On episode 328 of Business Insanity Talk Radio, we first discuss what Bill Gates, Steve Jobs, and Andy Grove have in common and what lessons we can learn from them. Next, we talk about what it takes to lead a small business these days – GRIT. Do you have it? Also, we’ll reveal the five tools every small business should be using and which software platforms work best. Finally, we’ll show you the most common reason business owners get into legal trouble and how to prevent it.

Listen and enjoy:

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Segment 1: David Yoffie is the Max and Doris Starr Professor of International Business Administration at Harvard Business School. He has been a member of the HBS faculty since 1981. He is the author of the new book Strategy Rules: Five Timeless Lessons from Bill Gates, Andy Grove, and Steve Jobs.

1:49 – What special qualities did Gates, Grove, and Jobs have in common that made them uniquely suited to running such successful companies?

2:38 – What are the Five Timeless Lessons we can learn from this storied group of business leaders? What does the first lesson, “look forward, reason back”, mean?

3:38 – How to make big bets without betting the company.

4:55 – Why you need to build platforms and ecosystems, not just products.

5:50 – How to exploit leverage and power by playing judo and sumo.

7:19 – What are you best at? Shape the organization around your personal anchor.

8:43 – One of the greatest challenges of superstar CEOs is how to replace them. How can you prepare an organization for succession?

Segment 2: Laurie Sudbrink is president and founder of Unlimited Coaching Solutions, which specializes in improving workplace performance. She has over twenty years of corporate experience in human relations, management, sales, marketing and training. She is the author of the new book Leading with Grit.

15:35 – Laurie uses GRIT as an acronym: GRIT®: Generosity, Respect, Integrity, and Truth. Why these 4 words?

16:20 – How Laurie developed the concept of GRIT®?

17:11 – Laurie explains that in order to change, we must first be aware of our choices, so we can decide if we want to make different ones.  How do we create this awareness?

18:48 – Laurie’s advice for leaders who feel like an impostor in their roles.

20:18 – Communicating with GRIT® is essential for success. How can people adapt their message to others’ communication styles?

21:37 – Why generosity is the “G” in GRIT®.

23:04 – Why are both formal and informal leaders important to a small business?

Segment 3: David Waring is the co-founder and editor at FitSmallBusiness.com, a site that helps small business owners choose the right software and services for their businesses. Before starting FitSmallBusiness.com, David played a senior role in growing a company from 9 to over 700 employees.

31:05 – David’s recommendations for tools every small business owner should be using (almost all of them are free!)

32:08 –  David’s recommendation for customer relationship management software.

33:32 – Over half of small businesses still don’t have a website. David recommends free website builders.

34:35 – The best document sharing system for small businesses.

35:10 – David’s recommendation for email platforms.

35:45 – Why small business owners should track their time at least once per month.

39:55 – Segment 4: How to Get Unstuck

41:00 – Do any of these sound familiar? If so, you may be stuck.

42:01 – How you can start getting unstuck today.

45:59 – Special offer code.

Segment 5: Elizabeth Potts Weinstein is a lawyer, writer, mom, and explorer. As a small business attorney, she helps entrepreneurs, artists, coaches, and consultants get the legal stuff out of their way so they can get back to helping their clients and changing the world.

49:52 -What are the biggest legal problems for small business owners?

50:47 – How to prevent difficulties and misunderstandings with customers.

51:16 – Why you should not jump into lawsuits.

52:21 – What is the difference between a trademark and a copyright?

Sponsored by SageNextiva and CorpNet.