On this episode of Business Insanity Talk Radio, we first talk to a businessman on how he was able to break out of the rough neighborhood he came from to find success. Then, we’ll show you how you can have a strategy for your business and still remain agile. Next, we’ll hear from a 91 year old businessman who brought us the fax machine and what he has learned over the years. After, we’ll show you a simple way to forecast your cash flow. Finally, we’ll explore whether or not young millennial leaders are really any different from past generations.
Listen and enjoy:
Segment 1: Tom Nix is a pioneer of the check-cashing industry. Having built his company and traversed many challenges, he sold Nix Check Cashing for tens of millions of dollars. Recently, Tom has turned to public speaking and writing, including his memoir “Nixland: What Turned A Teen Street Fighter Into A Multimillionaire?”
1:45 – How did you begin to transform your life from a street-fighting teenager to a respectable businessman?
3:45 – The transformation that began to take place during college.
5:00 – What’s the first step in changing your life’s path?
6:30 – You get what you think about.
8:00 – What was the beginning of Nix Check Cashing?
Segment 2: Lisa Hillenbrand is the founder of Lisa Hillenbrand & Associates. She previously served as Global Marketing Director at Procter & Gamble. She specializes in marketing, strategy, and organization change interventions that return brands to growth, and led the team that “re-engineered” Procter & Gamble’s company-wide brand building approach. She is the author of the new book “Stragility: Excelling At Strategic Changes”.
15:30 – What is “stragility” and why is it critical to achieving organizational change?
16:15 – How are businesses strategic and agile at the same time?
16:45 – 70% of changes don’t stick. Why?
17:45 – How businesses can identify where their change process has derailed.
19:15 – What it takes to manage the politics that inevitably arise around any change effort.
20:25 – How do you get skeptics behind the change?
22:30 – How do you avoid “change fatigue”?
23:30 – How to build change fitness with every change your organization takes on.
Segment 3: Walter J. Scherr is 91 and the author of “WALTER’S WAY: How A Relief Kid Survived TB, Corporate Betrayal, Bankruptcy, Made Millions, And Touched The Lives of Billions.”
31:00 – Walter’s advice for entrepreneurs.
31:30 – Walter overcame a life-threatening illness to live an adventurous life as a globe-trotting executive. How did he find out about his illness?
32:30 – How Walter’s time in the sanatorium inspired him to succeed in business.
34:00 – How Walter helped introduced the first fax machine.
35:30 – The most important virtue’s for today’s businesspeople.
Segment 4: Colin Hewitt began working on Float after spending a lot of his time working on spreadsheets to model cash flow for his digital agency. Once he moved his accounting to the cloud, it became obvious that if he could populate the company’s forecast automatically, he could save a great deal of time. After selling his first business, Colin and his cofounder began building an initial prototype, and successfully completed a funding round in September 2013 and again in October 2015. Now Float has grown to a team of 11, has more than 1000 paying customers, and is integrated with QuickBooks Online, and Xero.
41:00 – Why are small business owners terrible at managing cash flow?
42:15 – How Float forecasts your business’s cash flow for you.
43:15 – What manual work is involved?
44:10 – The benefits of cash flow forecasting – you’ll know what will be in your bank account tomorrow.
44:45 – If you don’t use QuickBooks Online or Xero, how can you use Float?
Segment 5: Jason L. Ma serves as founder, CEO, and chief mentor of ThreeEQ®, a premier success coaching and consulting firm for high-end families, companies, and institutions worldwide. He is passionate about unleashing the full potential of next-generation leaders and is the author of “Young Leaders 3.0: Stories, Insights, and Tips for Next-Generation Achievers”.
50:00 – Do Millennial leaders have different motivations than past generations?
50:55 – Tips for employers in attracting and retaining Millennials as employees.
52:00 – What are some tips for young professionals making their way in the real world?
