Latest / The Steve Harvey Morning Show / Making A Difference: She discusses how companies can adapt and thrive in uncertain environments.

Transcript

Making A Difference: She discusses how companies can adapt and thrive in uncertain environments. · The Steve Harvey Morning Show

0:05
Speaker 1: Welcome to the show.
0:06
Speaker 2: I am Rashan McDonald, the host of Money Making Conversations Masterclass,
0:10
Speaker 2: where we encourage people to stop reading other people's success
0:13
Speaker 2: stories and.
0:14
Speaker 1: Start planning their own.
0:16
Speaker 2: Listen up as I interview entrepreneurs from around the country,
0:19
Speaker 2: talk to celebrities and ask them how they are running
0:22
Speaker 2: their companies, and speak with nod profits who are making.
0:25
Speaker 1: A difference in their local communities. Now, sit back and
0:28
Speaker 1: listen as we unlock the secrets to their success on.
0:31
Speaker 2: Money Making Conversations Masterclass. Hello, I am Rashan McDonald, our
0:36
Speaker 2: host is weekly Money Making Conversation Master Class show. The
0:39
Speaker 2: interviews and information that this show provides are for everyone.
0:42
Speaker 2: It's time to stop reading other people's success stories and
0:46
Speaker 2: start living your own. I'm here to help you reach
0:48
Speaker 2: your American dream. Just keep listening. My guest today really
0:53
Speaker 2: is a high growth strategy specialist, bestselling author, executive advisor
0:58
Speaker 2: and consultant sure at the London Business School. Please welcome
1:02
Speaker 2: to Money Making Conversation Master Class, Doctor Rebecca Humpkiss.
1:06
Speaker 1: How you doing, my friend, I am excellent.
1:09
Speaker 3: Thank you so much for having me.
1:10
Speaker 2: Well, thank you where you're right now? I know London
1:13
Speaker 2: Business School?
1:13
Speaker 3: Yes, So I live in San Francisco, Miami, in London.
1:18
Speaker 3: So I live in three cities. But today I am
1:19
Speaker 3: joining you from London, England.
1:21
Speaker 2: Oh great, fantastic reason I brought on the show because
1:25
Speaker 2: we're kind of like in political volatile times and as
1:28
Speaker 2: business or people who are in the business of trying
1:31
Speaker 2: small entrepreneurs, it affects us. It can affect how we
1:34
Speaker 2: do strategy, how we hire people, and sometimes we can
1:38
Speaker 2: get frozen. And that's not a good thing because you
1:42
Speaker 2: want people still want their pay checks, people still want
1:44
Speaker 2: their products, and people still want your business be active.
1:47
Speaker 2: So why we talk about economic and business decisions? What
1:53
Speaker 2: should not be delayed or should we delay at all
1:55
Speaker 2: doing this little window prior to the election.
1:58
Speaker 3: Yeah, and we go back to you. People want their paychecks,
2:01
Speaker 3: but they also want to work for organizations that are
2:04
Speaker 3: moving forward, right, and we are as leaders going to
2:08
Speaker 3: be constantly running organizations through uncertain times. You know, tell me, Rashan,
2:12
Speaker 3: the last time you run a business through certain times,
2:14
Speaker 3: like when you had perfect predictability of what was going
2:17
Speaker 3: to happen next. So while we have more geopltical uncertainty now,
2:21
Speaker 3: we need to distinguish that from the key decisions that
2:24
Speaker 3: we have to make, and if we don't do that,
2:26
Speaker 3: we end up putting our organizations in these constant holding patterns,
2:29
Speaker 3: you know, always waiting for another few months, tell me
2:32
Speaker 3: no more, always waiting for another few months, and tell
2:34
Speaker 3: me more more, and then we've actually fallen behind everybody else.
2:37
Speaker 3: You've got to be very purposeful and only wait when
2:40
Speaker 3: that's the right thing to do. Now, there might be
2:43
Speaker 3: a few decisions. If you're a manufacturing company deciding your
2:46
Speaker 3: new site location, you might want to wait until after
2:48
Speaker 3: the election, but the majority of our strategic decisions can
2:51
Speaker 3: proceed as planned as long as you're ready for the
2:54
Speaker 3: as long as you're very clear on your beliefs. So
2:57
Speaker 3: we're saying, you know, we have this belief as an organization.
3:01
Speaker 3: Because of this belief, this is the decision that we're
3:03
Speaker 3: going to make. But I'm going to incrementally so kind
3:06
Speaker 3: of peace by piece, invest in that decision as I
3:10
Speaker 3: am testing my beliefs. So we can keep moving and
3:13
Speaker 3: acting if we make decisions based on beliefs. But we've
3:16
Speaker 3: got to keep testing those beliefs as we're executing.
3:19
Speaker 2: Now, I'm a minority company, Rebecca, Yeah, and so there's
3:23
Speaker 2: some diversity, diversity, equity inclusion. THEI fact, there's a movie
3:27
Speaker 2: I right now that's anti DEI, and so certain companies
3:31
Speaker 2: have set aside and we know that that the political
3:35
Speaker 2: one political size of anti DEI saying yeah, in fact,
3:38
Speaker 2: they've said.
3:38
Speaker 1: That the VP is a DEI. Yeah, that's how she
3:42
Speaker 1: got a position.
3:43
Speaker 2: And so as a person who deals with companies like that,
3:46
Speaker 2: then I'm I'm not saying the word fearful, but it
3:49
Speaker 2: does make me wonder about opportunities that may not exist
3:54
Speaker 2: if one side wins versus the democratic side wins, DEI
3:58
Speaker 2: will probably prosper. Yeah, how should I view that and
4:01
Speaker 2: how should deal with that?
4:04
Speaker 3: It's a great question. Look, and we are in very
4:08
Speaker 3: divisive times, right. We are very bifurcated as a country
4:11
Speaker 3: between one side or another, and there's many of these
4:14
Speaker 3: social topics are very clearly falling into one line or
4:16
Speaker 3: the other. Now, my first challenge is always Now, there
4:20
Speaker 3: will be a difference perhaps in regulation, like and what
4:22
Speaker 3: is actually regulated, what is mandated, what is forced, But
4:25
Speaker 3: that's not why most companies are doing their deb strategy.
4:28
Speaker 3: They're doing it because it's part of their organizational purpose.
4:30
Speaker 3: They're doing it because that's what their talent and employees
4:33
Speaker 3: say that they want and say that they appreciate, and
4:35
Speaker 3: so all of those things, as long as it's still
4:37
Speaker 3: part of your organizational purpose, it's still Cordier strategy. We
4:40
Speaker 3: should continue going forward with that. Now, again, we could
4:43
Speaker 3: say that might affect some of the talent that I get,
4:45
Speaker 3: It could affect some of the funding that I might
4:47
Speaker 3: have access to, But as far as making those decisions,
4:50
Speaker 3: think about my organization, my beliefs, my purpose, right then
4:54
Speaker 3: I would still be making those same decisions along the way. Now,
4:58
Speaker 3: one thing we could do burn strategy, we have different options.
5:02
Speaker 3: We have an action to take action to get results.
5:04
Speaker 3: We can also do something called acting to shape, where
5:07
Speaker 3: we take purposeful action in the market, not to get
5:10
Speaker 3: immediate results from my business now, but to shape the
5:13
Speaker 3: environment in my favor. And so in strategy, especially growth strategies,
5:17
Speaker 3: we've got to make sure we're taking advantage of all
5:19
Speaker 3: of our stances, which include not just acting for results,
5:22
Speaker 3: but acting to shape and acting to learn. So this
5:25
Speaker 3: might be an instance where your organization needs to do
5:28
Speaker 3: some shaping strategy as well, right.
5:30
Speaker 1: And that's why I asked that question.
5:32
Speaker 2: Sometimes these questions are personal, doctor River, So yes, that
5:36
Speaker 2: was a personal question.
5:37
Speaker 3: Ask me anything, asking individuals who are.
5:39
Speaker 2: Listening to my show now, because we are all leaders,
5:42
Speaker 2: and when you are a leader, you're always talking about
5:45
Speaker 2: developing practical strategy. Yes, and I always say that because
5:50
Speaker 2: these are uncertain times. You know, the interest rate went down,
5:53
Speaker 2: gas princes are dropping, that may affect home mortgages, that
5:57
Speaker 2: may affect inflation. They say it's a stable or that's
6:01
Speaker 2: why they was able to drop the interest rate.
6:04
Speaker 1: These are uncertain times.
6:05
Speaker 2: What are the practical strategies for small businesses and entrepreneurs?
6:09
Speaker 2: We're not talking about the big corporation.
6:10
Speaker 3: Yeah, I want I want to talk to you. I
6:14
Speaker 3: want to talk to people like you who are running
6:16
Speaker 3: small businesses, which of course are the backbone of the
6:18
Speaker 3: American economy. Now, before we can talk about practical strategies, though,
6:22
Speaker 3: I want to talk about the word uncertainty. Okay, And
6:25
Speaker 3: here's how I want you to define it. A serious
6:27
Speaker 3: of future events which may or may not occur. Whether
6:30
Speaker 3: or not those events are good or bad depends on
6:33
Speaker 3: what we're trying to do and how we're set up.
6:36
Speaker 3: So that's your job as an entrepreneur figure out what
6:38
Speaker 3: you're trying to do and then set your business up
6:40
Speaker 3: to succeed regardless of that situation in front of you.
6:43
Speaker 3: So that's the first very critical step, and the second
6:47
Speaker 3: one is setting your beliefs. We talked about this a
6:50
Speaker 3: bit on DEI and B, but you know all of
6:53
Speaker 3: these trends, you know, elections, interest rates, geopolitical instability, immigration policies.
6:59
Speaker 3: These are trends, right. We don't actually do any strategy
7:02
Speaker 3: by listing trends. Sit down with your team and say
7:05
Speaker 3: what's our beliefs, what's our stance, and how these things
7:07
Speaker 3: will go forward? And it's this sentence, I'm seeing X,
7:12
Speaker 3: and we believe why, which means Z for us. And
7:16
Speaker 3: if you just keep completing that sentence, we're seeing this
7:19
Speaker 3: trend and we take this belief for the midterm, which
7:22
Speaker 3: means this implication for us, then you're building yourself this
7:26
Speaker 3: framework that you know which choices you're making based on
7:29
Speaker 3: what beliefs. As those beliefs are affirmed, we're going to
7:32
Speaker 3: invest more in those in those activities. As those beliefs
7:35
Speaker 3: are not, we might start pausing and even stopping some
7:38
Speaker 3: activities and replacing them with those where our beliefs are
7:42
Speaker 3: still affirming.
7:43
Speaker 1: We know.
7:43
Speaker 2: It's really what basically what you're saying is that stay
7:46
Speaker 2: strong in your beliefs, have a plan of action. Yeah,
7:48
Speaker 2: you know, you know this is kind of like different.
7:50
Speaker 2: You know, we always talk about budget. We always talking
7:52
Speaker 2: about financial planning. That we're talking about structure planning. Yes,
7:56
Speaker 2: the strategy being practical, that's what we're talking about right now.
7:59
Speaker 3: Yes, Because here's the thing. Here's the thing, Kretie. As
8:02
Speaker 3: we sit down to review strategies, we tend to start
8:05
Speaker 3: these meetings with the question. We tend to start the
8:08
Speaker 3: meetings with the question are we on track to plan? Right?
8:12
Speaker 3: We love to ask our team if we're on track
8:14
Speaker 3: to plan. I'm going to challenge you. I want you
8:16
Speaker 3: to ask your team a different question at the beginning
8:18
Speaker 3: of the review meeting. Instead, ask the question, has the
8:22
Speaker 3: situation changed?
8:23
Speaker 4: Please don't go anywhere. We'll be right back with more
8:27
Speaker 4: Money Making Conversations Masterclass. Welcome back to the Money Making
8:36
Speaker 4: Conversations Masterclass hosted by Rashaan McDonald.
8:40
Speaker 3: Right has the situation changed? Because see, sometimes being on
8:45
Speaker 3: track to plan is not a good thing if the
8:47
Speaker 3: situation's change, and asking that question takes the assumption there
8:51
Speaker 3: was only one track and we got it right the
8:53
Speaker 3: first time. So I like to start my review meetings
8:56
Speaker 3: with the question has a situation changed? Are our beliefs
9:00
Speaker 3: still tracking? If so, our strategy should be two. If
9:03
Speaker 3: our beliefs aren't track, here not affirm we might need
9:05
Speaker 3: to replace something we're doing, because here's the cool thing
9:08
Speaker 3: about strategy. It can and should change as we're executing,
9:13
Speaker 3: as we're learning and bringing new information in.
9:17
Speaker 2: Okay, Now here's something that's interesting. Team building? Yes, okay,
9:22
Speaker 2: I hear that a lot. I'm in fact that as
9:24
Speaker 2: a small company, I'm about to help my first team
9:27
Speaker 2: building all right, event you know, I'm a ward winding cook,
9:30
Speaker 2: so I always cook at the office.
9:31
Speaker 3: But oh I'm jealous and make score an insight to
9:34
Speaker 3: the steam building thing.
9:35
Speaker 2: Now, yes, and so, so tell me the value of
9:40
Speaker 2: team building within the company.
9:44
Speaker 3: Human beings crave connectivity, and as much as we speak
9:48
Speaker 3: about you know, fully remote offices and AI replacing human beings,
9:52
Speaker 3: I'm not yet convinced that human beings don't crave connectivity
9:56
Speaker 3: with others and wanting to work for an organization where
9:58
Speaker 3: they have aligned per with others. Right, and are striving
10:01
Speaker 3: towards the same event, and so there's a higher level, right,
10:05
Speaker 3: which is that there's also a more execution level. Why
10:08
Speaker 3: these team building things matter is because one of the
10:12
Speaker 3: biggest differentiators of organizations from super small to super large
10:18
Speaker 3: do really well in external uncertainty, which we've been speaking about,
10:22
Speaker 3: is they build something called internal predictability. And it's a
10:26
Speaker 3: little bit non sexy phrase, I know, but this is
10:28
Speaker 3: what sets companies apart who do really well when the
10:31
Speaker 3: world around them is changing, is they build something called
10:34
Speaker 3: internal predictability. And it comes to show when you can
10:37
Speaker 3: answer yes to four questions. Okay, and I won't ask
10:40
Speaker 3: you to say if you can say yes, but I
10:41
Speaker 3: want you to think about your team. Here's the four questions.
10:44
Speaker 3: Can everyone on your teams say yes too. I know
10:47
Speaker 3: what we're trying to achieve and why it matters. That's
10:50
Speaker 3: question one. I know we're trying to achieve and why
10:52
Speaker 3: it matters. Question two, I know where critical decisions take place.
10:57
Speaker 3: Question three, I can rely on other to do what
11:00
Speaker 3: they say they will do. In question four, when I
11:04
Speaker 3: do adapt, it's recognized and rewarded. How do you do
11:08
Speaker 3: on the four questions of internal predictability.
11:10
Speaker 2: Well, I think that two and four yeah, superstar, all right,
11:16
Speaker 2: one in three shakey, Okay.
11:20
Speaker 3: So here's here's the bad news. You need all four
11:23
Speaker 3: to build this element. And that goes back to why
11:25
Speaker 3: team building is so important, because these things about the
11:28
Speaker 3: reliability are so much easier when we know the people
11:31
Speaker 3: on the other side of that commitment. The decision making
11:33
Speaker 3: so much easier to route the decisions to the right place.
11:37
Speaker 3: But tell me more on how you did well.
11:39
Speaker 2: I meant tell you if you know, just overall, because
11:42
Speaker 2: this is a good conversation regards to I hope people
11:44
Speaker 2: who are listening to taking all this in because it's
11:47
Speaker 2: about honesty. You know what I've done in the last
11:50
Speaker 2: I say year and a half, doctor Rebecca, is.
11:52
Speaker 1: That I have been honest about my flaws.
11:56
Speaker 2: And in other words, I reset my company in April
12:00
Speaker 2: twenty twenty three, and I've looked back and I went
12:02
Speaker 2: the employees I have now and employees I have previously.
12:06
Speaker 2: The ployeres I have previously can't even work for me now.
12:09
Speaker 2: So I had to make that honest reset. And I
12:11
Speaker 2: think that when I go through these courses one through four,
12:15
Speaker 2: I evaluate them based on the fact that I'm in
12:18
Speaker 2: the process of maturing as a leader. I also being
12:23
Speaker 2: more open to like I said, I'm doing a team
12:25
Speaker 2: building event. I always felt that, you know, snacks at
12:29
Speaker 2: the office, come in, you got a cake waiting, and
12:32
Speaker 2: then we'll share a cake and then go to work
12:35
Speaker 2: where I'm actually actually setting aside in the moment shutting
12:39
Speaker 2: down activity.
12:40
Speaker 1: We finished the event, go home.
12:42
Speaker 2: And so I have built my whole career as an individual,
12:46
Speaker 2: and as an individual, translating that to a company has
12:51
Speaker 2: been difficult because I've been winning by myself, and so
12:55
Speaker 2: that's been the term for me when I go through
12:57
Speaker 2: these questions, because understand.
13:00
Speaker 1: That as a solo artist, oh you're all star.
13:04
Speaker 2: You run at a company, you have to value other
13:07
Speaker 2: people's feelings. I tell you some things like because I
13:11
Speaker 2: get to work on time. And so I had to
13:13
Speaker 2: understand sit down with my hr Sa Rashaan, give people
13:16
Speaker 2: a little window, you know, don't don't you know they
13:19
Speaker 2: might be eight oh five, eight oh six, don't hold
13:23
Speaker 2: them to that same brand that you're hell holding yourself to.
13:28
Speaker 2: Because other people have traffic, they come from different loans,
13:30
Speaker 2: they might have a flat tie, all these different things
13:32
Speaker 2: and put into perspective. So these questions that you asked
13:36
Speaker 2: me are working for me now. But if you'd asked
13:39
Speaker 2: me a year ago, I'd have been a failure on
13:42
Speaker 2: all four.
13:43
Speaker 3: And that again, this internal predictability. That's the secret sauce.
13:47
Speaker 3: We could talk about all the external uncertainty, but doing
13:50
Speaker 3: well on it it's building this internal predictability because you
13:53
Speaker 3: just said it. Look, growth is a team sport, right,
13:55
Speaker 3: it's not an individual one. We're playing football, not tennis
13:58
Speaker 3: when we're trying to grow urban ISAs. And that's why
14:01
Speaker 3: it's so hard. Now doable, very doable. Don't want to
14:04
Speaker 3: make it sound to any listener like it's not doable.
14:06
Speaker 3: But you've got to commit to having a gross strategy
14:09
Speaker 3: because it's not just about having the strategy, it's about
14:11
Speaker 3: committing to building the capability of growth with your team.
14:15
Speaker 3: But you use the critical word there, use the word reset,
14:18
Speaker 3: and that I love hearing that word because reset is
14:21
Speaker 3: the power move. You know, it's very easy to say,
14:23
Speaker 3: you know, don't just survive, thrive, right, But organizations and
14:27
Speaker 3: entrepreneurs who are willing to go through these purposeful resets,
14:30
Speaker 3: that's a power booth. Being able to thrive through different
14:33
Speaker 3: changing external conditions.
14:36
Speaker 2: Well your bore reset, okay, capital, I'm.
14:43
Speaker 3: Trying the power of the reset, the power of the reset.
14:45
Speaker 1: Power to reset, you know. But we needs uncertainy times.
14:48
Speaker 2: And that's why when I saw an opportunity to bring in,
14:50
Speaker 2: I wanted to reset my audience because we all ain't
14:54
Speaker 2: on certain times. And when this election happens, you're still
14:56
Speaker 2: going to be under certain time. Yes, because yes, a
14:58
Speaker 2: lot of things are done political, you know, and I
15:02
Speaker 2: think kind of convenient. The gas prices are dropping and
15:04
Speaker 2: we yeah, election times coming up, and interest rates dropping,
15:08
Speaker 2: the election drop, ye, when the election happens, and how
15:14
Speaker 2: the party wins, are they going to go back up?
15:16
Speaker 2: You know, that type of volatility. But I'm gonna talk
15:18
Speaker 2: about I'm gon going a little deeper. When I hear
15:20
Speaker 2: people talking about immigration, trade and offshore exploration and fracking
15:25
Speaker 2: and all that stuff as they small business, we're hitting
15:28
Speaker 2: things because immigration can affect everybody.
15:31
Speaker 1: Yes, sorry, it does affect everybody.
15:34
Speaker 2: How do we look at these things when we're watching TV,
15:36
Speaker 2: watching these people making decisions and voting, and half the
15:40
Speaker 2: country is this side of the table, and half the
15:42
Speaker 2: country is this side of the table. How is a
15:44
Speaker 2: gross from a gross strategy standpoint, how do we react?
15:49
Speaker 3: Well, I'm not being silly when I say take a breath.
15:52
Speaker 3: Sometimes right in the American news cycle, take a breath
15:55
Speaker 3: and go back to there's this very simple question I
15:59
Speaker 3: am and we've already said this question. I am seeing
16:02
Speaker 3: X and I believe why, which means Z for us.
16:06
Speaker 3: And you know we're seeing these things in immigration, Well,
16:08
Speaker 3: what's our belief How is it going to pan out
16:10
Speaker 3: over the next two to three years and what would
16:12
Speaker 3: that mean for us? And here's what I found with Sean.
16:15
Speaker 3: If you force your team and force sounds bad, but
16:17
Speaker 3: you know, if you work with your team to go
16:19
Speaker 3: through these you realize a lot of these trends won't
16:22
Speaker 3: really have an impact on your strategy. They're noise. A
16:25
Speaker 3: lot of trends are noise. Only a few will truly
16:29
Speaker 3: impact our choices. So here's what I like to do.
16:31
Speaker 3: I like to take all of those trends we're talking
16:33
Speaker 3: about and complete that sentence I'm seeing X and we
16:36
Speaker 3: believe why, which means Z for us. And then I
16:39
Speaker 3: want you to rank them. You know, in the Office
16:41
Speaker 3: of Virtual get out that classic two by two and
16:44
Speaker 3: rank them by impact to our industry and criticality to
16:48
Speaker 3: our choices, and you'll see that a lot of things
16:51
Speaker 3: are really moving the macro environment our industry, but they're
16:55
Speaker 3: not really going to impact our choices. You know, we're
16:57
Speaker 3: already there, or we've got plenty of time. Others might
16:59
Speaker 3: be super critical to us. And then just focus your
17:02
Speaker 3: time on those choices and those trends that meet both
17:05
Speaker 3: of those things. But I've got something else. One of
17:07
Speaker 3: my favorite exercises to do when I've got all of
17:10
Speaker 3: these big trends is here's what I do with Sean
17:13
Speaker 3: I cast. I tell my team, look, let's stop asking
17:16
Speaker 3: what could happen, because here's the bad news slash good news.
17:19
Speaker 3: I can't predict the future, and I don't think you
17:21
Speaker 3: can predict the future, right. But what I want to
17:25
Speaker 3: do with my team is get great at making good
17:27
Speaker 3: decisions even though I can't make great predictions. So I
17:30
Speaker 3: challenge teams stop spending more and more time trying to
17:33
Speaker 3: predict the future, trying to do scenario planning, trying to
17:36
Speaker 3: do trend setting. Instead, we're building the capability and making
17:39
Speaker 3: great decisions even though we can't make great predictions. So
17:43
Speaker 3: I change the question instead of asking what could happen?
17:46
Speaker 3: Ask what could make us and what could break us.
17:50
Speaker 3: Most things that happen, even with you know, a Trump presidency,
17:54
Speaker 3: are still going to fall under the bell curve, which
17:56
Speaker 3: means roughly within the realm of profitability. But there's going
17:59
Speaker 3: to be some tales, some outside events that are big
18:02
Speaker 3: risks and are big opportunities. Most people, even entrepreneurs, are
18:07
Speaker 3: great at answering what could kill us. They're terrible about
18:11
Speaker 3: saying like what could make us? And go to call
18:13
Speaker 3: them kickers and killers? What could make us and what
18:16
Speaker 3: could break us? And you sit down with your team
18:18
Speaker 3: and you say, okay, here's the trends for each of
18:20
Speaker 3: these trends. What are five kickers? What are five ways
18:24
Speaker 3: this trend could be a growth opportunity for us? And
18:26
Speaker 3: you've got to train your brain. You've got to start
18:29
Speaker 3: with the kickers. Because every team I work with, and
18:32
Speaker 3: I'm not being hyperbolic, every team I work with can
18:35
Speaker 3: give me twenty killers in five minutes. Every team takes
18:39
Speaker 3: a long time to get down to five kickers. We
18:42
Speaker 3: have not trained our brains to see big, uncertain things
18:46
Speaker 3: as growth opportunities. So you've got to build that capability.
18:50
Speaker 3: So again, you sit with your team and I'm going
18:51
Speaker 3: to check for your homework on this. When you're Sean,
18:53
Speaker 3: You're going to ask them what could make us and
18:55
Speaker 3: what could break us? And what I like to do
18:58
Speaker 3: is say you've got to do ten kickers before he
19:00
Speaker 3: can do any killers, because this is how we're going
19:03
Speaker 3: to start building our brains as a team. That all
19:06
Speaker 3: of these trends contain an opportunity for those who are
19:09
Speaker 3: willing to look for it and then shape or learn
19:11
Speaker 3: to grab it.
19:13
Speaker 2: You know, this is so cool because of the fact
19:16
Speaker 2: that you know when you when you out there, trusted yourself.
19:21
Speaker 2: I'm gonna tell you something about me, Dr Rebecca. I've
19:26
Speaker 2: always had people around me that have known me for
19:30
Speaker 2: a long time working for me, and I will be
19:32
Speaker 2: honest with you that tended that turned out to be
19:35
Speaker 2: a flaw in my business model because people they think
19:40
Speaker 2: they know you, they have stereotypes they've developed about you,
19:45
Speaker 2: and then all of a sudden, so they function a
19:47
Speaker 2: way instead of being an active thinking peryer. Well, Rashan,
19:51
Speaker 2: you know he's gonna do that anyway. Rashaan's going to
19:54
Speaker 2: do that anyway. So I've learned this might be a
19:56
Speaker 2: recommendation of other people out there when they hear these
19:58
Speaker 2: things coming to my office, that hire the right person
20:01
Speaker 2: for the position. Anybody you hire, I don't care if
20:04
Speaker 2: your sister or brother make them feel out an application.
20:07
Speaker 2: Everybody you hire should have a resume. They shouldn't just
20:10
Speaker 2: be somebody you know. Their skill sets should have value,
20:14
Speaker 2: not just value to that one, but the value to
20:18
Speaker 2: several things within your company. Because you're a small business,
20:20
Speaker 2: and so the people I have working for me now
20:24
Speaker 2: don't know me. I hire them on what they could
20:27
Speaker 2: do for me. And previously, prior to the reset, I
20:33
Speaker 2: hire people who knew me and didn't really take in
20:37
Speaker 2: strong consideration about their work history, about their resume, and
20:43
Speaker 2: about what they can do for me five or ten
20:45
Speaker 2: years from now. And that's when the growth strategy that
20:48
Speaker 2: you're talking about is so important.
20:49
Speaker 3: Correct, Yes, absolutely, Yeah. You want to bring a team
20:53
Speaker 3: around you who is going to share this commitment to growth.
20:57
Speaker 3: And while there's comfort around working with people who know us,
21:00
Speaker 3: you leads into a tramp if they make these implicit assumptions,
21:04
Speaker 3: you know, they just assume they know what you're gonna do.
21:06
Speaker 3: They just assume you know where we're going to go
21:08
Speaker 3: and so we're going away from that making great decisions
21:11
Speaker 3: even though we can't make great predictions. Right. So you
21:13
Speaker 3: can build it with people you know, but you've got
21:15
Speaker 3: to be very purposeful about it. Right. But I like
21:17
Speaker 3: to be very clear talent coming in, do we have
21:20
Speaker 3: this very clear role that we know that they're playing
21:23
Speaker 3: for us. Or here's I like to divide it. Because
21:25
Speaker 3: you're a small business. You can't just hire anybody, right, right,
21:28
Speaker 3: It split all of your hires into two right, Either
21:31
Speaker 3: what I call a tour of duty, as in I
21:33
Speaker 3: have one very specific thing, like maybe I need to
21:37
Speaker 3: build a CRM system for the first time and integrate
21:40
Speaker 3: it with my old systems. Maybe I want to open
21:43
Speaker 3: a new product line or go into a new state. Right,
21:46
Speaker 3: So a very specific tour of duty. But you know
21:48
Speaker 3: when you make that hire, when this is completed, I
21:51
Speaker 3: might not need this individual anymore. But you're being very
21:53
Speaker 3: purposeful about this. You're gonna hire the perfect person for
21:55
Speaker 3: that job. Or you hire for what I call repurposability,
22:00
Speaker 3: which I made up that word to be clear, which
22:02
Speaker 3: means this person has this skill set as I constantly
22:05
Speaker 3: reset my business, this individual has a skill set that
22:08
Speaker 3: can constantly repurpose for value creation. And I like to
22:12
Speaker 3: just put everyone in two streams because we tend to
22:14
Speaker 3: overhire for kind of a jack of all trades. You know, well,
22:17
Speaker 3: this person can do this and that and that, but
22:20
Speaker 3: if you really force yourself, no, as a small business,
22:23
Speaker 3: every hire has to be very purposeful. This is a
22:26
Speaker 3: tour of duty or repurposability for value creation.
22:30
Speaker 2: We know as we wrap up this interview, Yah, I've
22:33
Speaker 2: used the word reset a lot.
22:35
Speaker 3: Yeah, and I love it, and I love it you're
22:36
Speaker 3: speaking my love language by using the word reset y because.
22:39
Speaker 1: I didn't want to bring that up early.
22:40
Speaker 2: On because that's your book, Survive, Reset, Rive, because I
22:43
Speaker 2: wanted to personalize it and let you understand that one
22:47
Speaker 2: of the things that motivated me for this interview. Because
22:50
Speaker 2: I'm doing that and more importantly, give us a brief
22:53
Speaker 2: overview of your book and encourage us to and motivate
22:57
Speaker 2: us because it is Survive, Reset and thrive, leading breakthrough
23:01
Speaker 2: growth strategy in bottatal times.
23:04
Speaker 3: Lois Yes, thank you. And the notion is growth is
23:07
Speaker 3: a loop, not aligned. Is that if we really want
23:10
Speaker 3: to constantly grow our businesses regardless of the environment around us,
23:14
Speaker 3: we need to embrace this loop thinking, and it's constantly
23:17
Speaker 3: going through this loop of survive or stabilize when the
23:20
Speaker 3: market throws a shock at us, reset or change when
23:23
Speaker 3: the situation around us changes, then go back to being
23:26
Speaker 3: a thriving organization. And as an entrepreneur, it's the movement
23:30
Speaker 3: across these three modes that are just as powerful as
23:34
Speaker 3: a place within each one. And in the book I
23:36
Speaker 3: Guide Entrepreneurs of how can you be better at surviving
23:39
Speaker 3: and move out of that phase faster? How can you
23:41
Speaker 3: do a really good reset? Then what does it take
23:44
Speaker 3: to be one of these thriving organizations that can grow
23:47
Speaker 3: through any market circumstances?
23:49
Speaker 1: Wow, thank you for coming on my show, Money.
23:52
Speaker 3: Made No Thank you so much for having me. It
23:54
Speaker 3: was that an absolute pleasure.
23:55
Speaker 2: Well, you know it's really great because you know, I
23:58
Speaker 2: got personal, which is it's unusual for my show, but
24:02
Speaker 2: I felt that this is what had to be an
24:04
Speaker 2: honest show. When you talk about resetting and you're starting challenging,
24:07
Speaker 2: I'm living these same volatile times that my listeners are,
24:11
Speaker 2: and so I'm that same entrepreneur, I'm that same person
24:14
Speaker 2: dealing with DEI. I'm that same person who has to
24:17
Speaker 2: cast a vote, and that vote will make a difference
24:20
Speaker 2: in this country and we're gonna have to deal with
24:22
Speaker 2: it for four years. What you've allowed by coming on
24:25
Speaker 2: this show today, Doctor Rebecca, is that Humpkins. Is that
24:29
Speaker 2: you allowed me to say, Rushan, don't be comparalyzed by
24:33
Speaker 2: the situation. Continue to move forward, continue to have growth strategy,
24:38
Speaker 2: continue to have team team building events. Understand your employees
24:43
Speaker 2: have a voice, Acknowledge their voice. Implement some of the
24:46
Speaker 2: things that work within your company. This is what I
24:49
Speaker 2: might take away and hopefully take away from the people
24:51
Speaker 2: who enjoy this interview. Thank you again for coming on
24:54
Speaker 2: Money Making Conversation Masterclass.
24:56
Speaker 3: Thank you my pleasure.
24:58
Speaker 2: This has been another edition of Money Making Conversation Masterclass
25:01
Speaker 2: hosted by me Rushaun McDonald. Thank you to our guests
25:04
Speaker 2: on the show today, and thank you for listening to
25:07
Speaker 2: audience now. If you want to listen to any episode
25:09
Speaker 2: I want to be a guest on the show, visit
25:12
Speaker 2: Moneymakingconversations dot com.
25:14
Speaker 1: Our social media handle is money Making Conversation.
25:17
Speaker 2: Join us next week and remember to always leave with
25:19
Speaker 2: your gifts.
25:20
Speaker 1: Keep winning