GMB Episode #126: Pulling the Wisdom From Jeff Bezos’ Investor Letters With Steve Anderson

 

It’s an undeniable fact that Jeff Bezos did some exceptional work to develop Amazon into the e-commerce giant it is today. What if you could discover Amazon’s secrets and translate them into your business? Our guest today took on the task of analyzing every investor letter addressed by Jeff Bezos to Amazon shareholders dating back to 1997. Steve Anderson, Co-Founder & CEO at Catalyit™, and the author of the international bestseller, The Bezos Letters, joins us to dive into the 14 principles that created the Amazon that we know today.

 

 

Show Notes

[02:52] Summary of Letters – Steve starts the conversation with a synopsis of the letters, as well as what we can take away from them as we manage our own businesses.

[05:08] Beginning of Amazon – Steve explains Jeff Bezos’s background, how his childhood inspired him, and how he ended up launching Amazon.

[11:14] Becoming a Tech Giant – Steve dives into the growth of Amazon from its IPO in 1997 to current day.

[24:38] Four categories– Steve discusses the four categories mentioned in his book, and provides an excellent explanation of the 14 principles.

[31:44] High-Velocity Decisions – Steve explains how Jeff Bezos used a unique decision-making process to accelerate Amazon’s growth.

[45:56] Amazon’s Culture – Steve expresses his thoughts on Amazon’s culture.

[54:40] Steve’s Background – Steve shares his background, his career as an entrepreneur, and how he came to produce his phenomenal work.

 

Resources

GMB Ep #124: Managing Burnout As An Entrepreneur With Bunny Young

 

As an entrepreneur, wearing too many hats can quickly lead to burnout. This week on Grow Money Business, we talk about how and why it is so important for entrepreneurs to monitor their mental health and wellbeing. Bunny Young, a business consultant, former therapist, and third-generation entrepreneur joins us today to discuss what burnout it, how to prevent it, and some valuable lessons she has learned along the way.

 

 

Show Notes

[02:40] Levels of Burnout – We start the conversation with different levels of burnout and how to cope.

[05:38] PTSD –Bunny shares some signs that suggest we might be experiencing post-traumatic stress disorder.

[10:17] Burnout & PTSD – Bunny compares the signs & symptoms of burnout against that of PTSD and shares how businesses can help their staff approach mental health in a positive way.

[14:00] Preventing Big Burnout – Bunny shares her thoughts on how we can prevent a small burnout from snowballing into a big burnout.

[18:00] Workweek Patterns – Bunny gives her thoughts on why our centuries-old 40-hour workweek is no longer efficient and how entrepreneurs can make it better.

[26:00] Making Good Decisions – Bunny shares her advice for making objective and logical decisions while experiencing burnout.

[31:28] Business Background – Bunny is a third-generation entrepreneur. We talk about the businesses her parents and grandparents developed.

[38:31] Bunny’s Journey – Bunny shares her own entrepreneurial journey, and some of the career pivots she made along the way.

[53:15] Consulting – Bunny talks about her consulting firm and how they help family-centric small business owners spend more time with their loved ones.

 

Resources

Estate Planning for Small Business Owners

Building a business is all about taking risk. You put your belief in yourself, your money, time, and more on the line to create something that can grow and succeed. But whether your business will fund your retirement plan, or you hope to create a multi-generational family enterprise, there’s one area of risk you shouldn’t be taking.

If you own a business, you need an estate plan. And not just any plan. It needs to cover your wealth and safeguard your family. It also needs to ensure that the business can carry on or that there is an orderly plan for a sale or wind-down.

You’ll most likely need to consult with a financial advisor, a trust and estates attorney, and a tax accountant to get a comprehensive plan in place.

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GMB Ep #113: Leveraging Mindset to Build & Sell Businesses With Dominic Rubino

 

Regardless of what profession or industry we’re in, our mindset is a crucial factor that defines growth. Today’s podcast deviates slightly from the norm in terms of technical content and delves deeper into the philosophical domain. Our guest, Dominic Rubino, is an entrepreneur with a unique background. Dominic has worked in various enterprises and is now a coach, supporting employees in the construction industry in developing a positive attitude and increasing profits. Throughout the episode, he shares his expertise and experience on aligning your business activities with your personal life and creating the life you desire through your business operations. 

 

 

Show Notes

[02:55] Dominic’s Background – Dominic explains his background, his current endeavors, and how he got to where he is today.  

[05:58] Mindset – Dominic discusses how our success or failure is determined by unique perspective, and the lens through which we view the world.  

[10:35] Business Coach – Dominic discusses the importance and role of a business coach.  

[12:47] Success – Dominic shares his thoughts on defining success and suggests ways for individuals to plan strategically toward it.  

[17:49] Circle of Friends – Dominic emphasizes the importance of having a supportive community of friends. 

[20:42] Strategic Planning Process – Dominic discusses the strategic planning process, and highlights simple exercises and reading material to help you along the way.  

[26:21] Personal Experience – Dominic shares personal experience gained from his entrepreneurial endeavors. 

[38:21] Mindset in Coaching Business – Dominic discusses how he maintains his mindset as a coach. 

[41:28] Dominic’s Podcast – Dominic talks about his podcasts and what inspired him to start them. 

 

 

Resources

Connect with Dominic: 

LinkedIn: linkedin.com/in/dominicrubino 

Website: profittoolbelt.com/ 

 

Mentioned in the episode: 

Traction: 

goodreads.com/book/show/8549192-traction?from_search=true&from_srp=true&qid=L77ID7gyYk&rank=2 

Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Growing Firm: 

goodreads.com/book/show/16120.Mastering_the_Rockefeller_Habits?from_search=true&from_srp=true&qid=wctFOxvrHH&rank=1 

The Ultimate Playbook On Building A Profitable Construction Business: 

constructionmillionairesecrets.com/ 

GMB Ep #108: Launching a Business in the Second Half of Life With Rick Terrien

 

There is a common misconception that successful entrepreneurship exists only for younger individuals. This week on the podcast, Rick Terrien shares why we should challenge that thought process. Rick, a long-term entrepreneur and author, shares how he has dedicated his time to assisting others with launching a business in their second half of life. Throughout the episode, we dive deep into the essentials of entrepreneurship and crucial information that will give you inspiration and guidance along the way.

 

 

Show Notes

[02:29] Rick’s Journey – Rick talks about his work and the latest events in his life.

[09: 56] Age and Entrepreneurship – Rick shares his views on the correlation between age and business.

[11:47] Initial Steps – Rick discusses how to think about the initial steps of organizing a business.

[12:59] Important Facts – Rick explains a few essential facts that need to be considered in entrepreneurship, especially when you’re considering starting a new business venture in the second half of your life.

[17:43] Non-Profit Work – Rick shares the non-profit work he currently engages in.

[31:20] Impact of Covid – Covid has changed a lot in people’s lives. Rick expresses his thoughts about how it has affected various occupations.

[33:48] Ageless Startup – Rick talks about his recently published book, Ageless Startup: Start a Business at Any Age.

[40:34] Common Mistakes – Rick highlights several critical mistakes many entrepreneurs make in their business ventures and how to avoid them.

Resources

Connect with Rick:

LinkedIn: linkedin.com/in/rickterrien/

Websites:

The Center for Ageless Entrepreneurs: agelessentrepreneurs.org

Ageless Startup: Start a Business at Any Age: ageless-startup.com

Mentioned in the Episode:

Ageless Startup: Start a Business at Any Age: goodreads.com/book/show/53714833-ageless-startup?from_search=true&from_srp=true&qid=LtUd8Tuz3z&rank=1

GMB Ep #106: Business Exit Planning With Scott Snider

 

Many business owners eventually come to the point where they will be moving on from the business they passionately built over the years, and having a good exit strategy will help them navigate this important and intimate event in their journey of entrepreneurship. This week on Grow Money Business, we have a distinguished guest, Scott Snider, the President and the co-owner of the Exit Planning Institute (EPI)Scott is an industry leader, growth expert, and entrepreneur. Throughout the episode, he discusses how he assists company owners in developing substantial businesses while also aligning their own financial objectives and personal purposes. He also explains several vital factors that every business owner should consider when exiting their company. 

 

 

Show Notes

[03:26] Current Role – Scott talks about his current role and how he helps with business exit planning. 

[06:40] Perfect Exit – Scott shares his insights about the perfect exit to a business owner who is about to do so in a few years. 

[10:23] Emotional Hurdles – Scott expresses his thoughts on managing psychology and people’s emotional hurdles along the business exit process. 

[14:12] CEPA – CEPA is an acronym for Certified Exit Planning Advisor. Scott gives a brief explanation for the entire CEPA process. 

[18:54] Exit Strategy for Young Entrepreneurs – Scott leaves a message to all the young business owners out there. 

[20:21] Scott’s Story- Scott emphasizes the significance of not letting your business define you while sharing his story and takeaways from his past experience. 

[29:35] Family Business – Explaining the nature of the family business, Scott shares how he and his father work together in their family business. 

[41:43] Vision – CEPA is suitable for any advisor who wants to learn how to help an owner position their company for a successful and significant exit. Scott broadly talks about the vision of the Exit Planning Institute. 

[47:43] Future Plans – Having explained the concept of the wealth gap, Scott explains the future plans for his business. 

[53:33] Research Findings -Scott shares details about one of his recent researches and exciting factors they discovered through it. 

Resources

Connect With Scott: 

LinkedIn: linkedin.com/in/scott-snider-epi/ 

Website: exit-planning-institute.org 

Facebook : facebook.com/exitplanninginstitute/ 

Instagram: instagram.com/exitplanninginstitute/ 

 

 

Mentioned in the Episode:  

Certified Exit Planning Advisor: exit-planning-institute.org/program/certified-exit-planning-advisor/ 

Owner Readiness: exit-planning-institute.org/state-of-owner-readiness/ 

Every Family’s Business by Tom Deans: https://everyfamiliesbusiness.com/book/ 

Traction by Gino Wickman: https://www.audible.com/pd/Traction-Audiobook/B00A9ZO7T6