Listen to ““Whatever”: The Most Dangerous Word in Small Business” on Spreaker.
On this episode of The Small Business Radio Show…
SEGMENT 1 with Richard Moran, starting at 0:00: Too many times in business, people respond with a single word: “whatever.” That should never be an appropriate response to a team that is trying to serve their customers and grow their business. Richard Moran shares how to steer clear of “whatever” (and its many forms) and keep it from hurting your company.
SEGMENT 2 with Marc Morgenstern, starting at 16:30: How does a professional deal-maker handle uncertain business and economic times? Marc Morgenstern is here to help you make a deal in your small business.
SEGMENT 3 with Nick Adler, starting at 36:00: One of the fastest growing areas of the workforce are the self-employed – people that work for themselves and mainly by themselves. What special challenges do these people face and what resources are out there to help?
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More on each segment below.
Segment 1: Richard Moran is a Silicon Valley-based business leader, workplace pundit, bestselling author, venture capitalist, former CEO and college president. He is best known for his series of humorous business books beginning with the bestselling, Never Confuse a Memo with Reality. He is the host of the CBS syndicated radio program, “In the Workplace.” He is the author of the new book Never Say Whatever: How Small Decisions Make a Big Difference.
- The word “whatever” (and its many forms) and why it’s a problem.
- Wherever there’s a “whatever”, there’s a decision to be made. Those decisions seem small but they are not.
- Studies show that people who are comfortable with decision-making are more successful in their careers and happier in their lives. Moran spoke with leaders in business, sports, and media to share their experiences with the word or attitude of “whatever,” and the resounding response is that it is a sign of shirked responsibility and carelessness.
- Rule of thumb: Action Follows Intent and what that means.
- Why the seemingly minor “whatever” in small businesses have a bigger impact when not addressed.
Segment 2: Marc Morgenstern is an out-of-the-box, uber-successful dealmaker, and rock aficionado. He is no ordinary business leader! His uncommon insights are powered by the confluence of 400+ successful deals, a lifetime of following the Grateful Dead, and selling encyclopedias door-to-door. He was there Day One of OfficeMax to co-founding digital healthcare software company Within3. Marc is the Managing Partner and founder of early-stage investor Blue Mesa Partners. He has been a member of the Board of Directors for the Rock and Roll Hall of Fame since 1983.
- You have one mouth and two ears; the ratio wasn’t an accident.
- Learn to listen like a musician, not a lawyer.
- Thinking of a deal as a circle
- An expectation unarticulated is a disappointment guaranteed.
- When the future is unclear, should you continue or pull the plug? Am I continuing out of stubbornness or out of perseverance?
- Be realistic about what your company is worth today
Segment 3: Nick Adler is the Chief Operating Officer at Found where he is helping build a modern financial platform for one of the largest, most underserved segments of the U.S. economy – the self-employed worker. His career spans multiple industries, including podcasts and restaurants.
- Approximately 60 million Americans are self-employed and by 2027, they’ll make up the majority of the workforce. The most common industries are professional services, construction, driving & delivery, retail, and beauty & barbers, but freelancers work across all industries.
- Research shows that most self-employed people cite a desire for increased flexibility as a key driver for becoming self-employed. Yet when you are your own boss, you are also on the hook for things that an employer would otherwise help with.
- Running a business when you’re self-employed often requires you to become your own accountant. You must navigate quarterly taxes, write-offs, and funding your healthcare benefits, in addition to running the business.
- One of the best steps you can take if you are just starting your own business is to completely separate your business and personal expenses. This will allow you to have a more accurate picture of your business and better track for tax deductions or other credits.
- Many self-employed individuals are now beginning to hire other contractors to support their businesses. This can allow more flexibility compared to bringing on a full-time employee, but it can also come with more paperwork.
