Listen to “#585 What Really Happened at Instagram After It Was Acquired by Facebook” on Spreaker.
On this episode of The Small Business Radio Show…
SEGMENT 1, starting at 0:00: Eight years ago, Facebook understood the power of Instagram when it purchased it for an outrageous amount of money at the time – $1B for the app and its 12 employees. Today it’s worth over $100B. Taking us inside this deal and what has happened since is my guest Sarah Frier, reporter for Bloomberg News and the author of the new book “NO FILTER: The Inside Story of Instagram”.
SEGMENT 2, starting at 17:30: Small business owners need help right now. Who better to bring in than Mike Michalowicz, author of “Profit First” and the new book “Fix This Next”? He’s here to share the formula for how to figure out what to fix next in your business.
SEGMENT 3, starting at 36:05: Many people avoid conflict, especially in times of stress like we are all going through right now in the corona-economy. But is there actually a benefit to having conflict in a small business? My next guests are the authors of “The Beauty of Conflict”, CrisMarie Campbell and Susan Clarke.
Sponsored by Nextiva
More on each segment below.
Segment 1: Sarah Frier is a reporter for Bloomberg News in San Francisco and the author of the new book “NO FILTER: The Inside Story of Instagram”.
1:00 – How did you get interested in writing about the story of Instagram?
3:00 – How did Mark Zuckerberg of Facebook get interested in buying Instagram? Did Kevin Systrom and Mark Zuckerberg have a history before this?
6:00 – You say in the book that Silicon Valley looked like it was run by geniuses, “but from the inside, it was clear that everyone was vulnerable, figuring it out as they went along.” This is true for a lot of us, isn’t it?
8:45 – Were the Instagram founders excited about this deal with Facebook or was it about the money?
10:15 – What went right with this deal between Facebook and Instagram?
12:15 – How did Kevin Systrom run Instagram his own way under the Facebook family? How well did this work?
14:45 – What should people take away from the book?
Segment 2: Mike Michalowicz leads two multi-million-dollar ventures, as he tests his latest business research for his books. He is a former small business columnist for The Wall Street Journal and business makeover specialist on MSNBC. Mike is a popular main stage keynote speaker on innovative entrepreneurial topics; and is the author of the new book “Fix This Next”, as well as “Clockwork”, “Profit First”, “Surge”, “The Pumpkin Plan” and “The Toilet Paper Entrepreneur”.
17:30 – How do we know what to fix next in our business?
19:30 – Change happens when you focus on what’s impactful versus what’s apparent.
20:45 – How is the “business hierarchy of needs” structured?
25:00 – Do small business owners tend to be stronger in one level more than others? How do you succeed in the levels you’re not strong in? Do the stages ever get easier?
29:00 – In what ways can an outside consultant help you address your business’s hierarchy of needs?
31:00 – How do you know when you’re ready to start working on the next fix?
32:00 – What’s your best advice for what small business owners should be thinking about now?
Segment 3: CrisMarie Campbell and Susan Clarke are the co-founders of Thrive! Inc. and the co-authors of “The Beauty of Conflict”. They’ve spent 20 years helping men, women, couples, and teams resolve difficult conflicts and create strong, thriving relationships. They live and work in Northwest Montana.
36:05 – How are stress and conflict affecting us all right now?
38:15 – Many people don’t believe there is a beneficial role of conflict in small business. What is it?
40:30 – If you’re a conflict avoider, how do you dive-into the messiness of conflict to derive its benefits?
43:00 – What should we do when our leaders aren’t good examples of conflict management?
44:45 – Why the highest-performing teams don’t rely on reaching consensus to make decisions.
45:30 – Why you don’t want to apologize during conflict (and what to do instead that will help build trust).
46:30 – How should you interact with someone who is aggressive in conflict?
51:00 – How do you deal with conflict with someone who is higher up in the organization than you?
Sponsored by Nextiva
