Listen to “#586 Burn Your Boat: Why You Need to Pivot Your Business Right Now” on Spreaker.
On this episode of The Small Business Radio Show…
SEGMENT 1, starting at 0:00: What is going on with the economy in America, and especially with small businesses, is nothing short of a disaster. How can you best navigate the COVID-19 disaster and pivot your business during these tough times? Here to help is Dr. Gleb Tsipursky, a cognitive neuroscientist and the CEO of Disaster Avoidance Experts.
SEGMENT 2, starting at 18:00: So many of us shy away from negotiation because we see it as negative conflict, but this is not the case! In business, you HAVE TO be able to negotiate in order to secure work with customers, employees and vendors. What are the best techniques to negotiate so you can achieve a win-win? Here to help is Alexandra Carter, author of “ASK FOR MORE: Ten Questions to Negotiate Anything”.
SEGMENT 3, starting at 34:00: There seems to be some hesitancy and confusion among small business owners around this question: Do they just wait until the coronavirus goes away or do they need to make wholesale changes to their business model since their market will never be the same? Here to guide small business owners on that decision process is Ryan Cantor, Vice President of Product & Marketing at Thryv.
More on each segment below.
Segment 1: Dr. Gleb Tsipursky is a cognitive neuroscientist and expert on behavioral economics and decision making. As CEO of Disaster Avoidance Experts, he has consulted and coached hundreds of clients worldwide, including Aflac, IBM, Honda, and Wells Fargo. His new book is “Never Go With Your Gut: How Pioneering Leaders Make the Best Decisions and Avoid Business Disasters.” https://www.businessinsider.com/disaster-expert-companies-should-face-coronavirus-with-pessimism-2020-3
1:30 – You say that companies are dealing with coronavirus all wrong. Why?
5:00 – Small business owners tend towards optimism, but pessimism will help you get ahead in major disruptions like the coronavirus.
7:30 – Why you need to pivot your business right now.
10:00 – What internal processes should small business owners adjust NOW in order to weather this disaster?
15:00 – What happens if you have a business that requires people to enter your business, like a bowling alley?
Segment 2: Alexandra Carter is Director of the Mediation Clinic at Columbia Law School, where she is also as an award-winning professor, and a world-renowned negotiation trainer for the United Nations. Alex is the author of “ASK FOR MORE: Ten Questions to Negotiate Anything”.
18:00 – What’s the best way to negotiate with the people in your household so you don’t have conflict while sheltering in place? E.g. who should get the home office?
20:30 – Negotiation always starts with you. How so?
23:00 – The first question you should ask in every negotiation scenario.
24:45 – How can you close a negotiation in a way that makes both parties happy?
26:00 – What negotiation technique should you use when the other party has more power?
28:00 – How can we overcome the two emotions that routinely derail negotiations: fear and guilt?
Segment 3: Ryan Cantor is Vice President of Product & Marketing at Thryv, driving ever-evolving innovations for SMBs throughout the United States. He has amassed more than 15 years of business leadership experience, including earlier stints with technology leaders Apple and AOL.
34:00 – We are in the middle of the largest and quickest shift in consumer behavior mankind has ever experienced. Why is that?
38:30 – How does this shift in consumer behavior compare to other shifts that have happened – like using ATMs and credit cards?
40:15 – We are creatures of habit, but the coronavirus has shaken that up. What kinds of things have we discovered?
41:30 – Stop waiting, start adapting. What changes do small business have to make now or risk getting left behind?
44:45 – What changes will businesses like bowling alleys and movie theaters have to make to survive?
46:00 – What role does technology play for a small business wanting to make changes? Where should they start?
49:30 – What is Thryv doing to help small business owners adopt the right technology for their business?
