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How to Build A Family Business Succession Plan with Stephen Shortt Ep. 82
Episode 8216th August 2022 • Fascinating Entrepreneurs • Natasha Miller
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Stephen is the Managing Director of ETC Consult and Distributed Training. Stephen is involved in different industries including leadership development and psychometric selection as well as international education and training; inward tourism in Ireland and more recently online and blended learning.

Stephen has delivered seminars and workshops; moderated panel discussions and acted as the MC for a range of international events on the topics of entrepreneurship; international communication; leadership; social media marketing; audio visual marketing and more.

Stephen has worked with individuals and teams around the world with their strategy planning and goal setting to help them to get a clear vision of where the want to be and how to get there.

Stephen spent many years fine tuning his own "why" or core purpose to help him get more clarity around what he wants to do with his life and it boils down to two words - Aspire & Flourish (www.aspireandflourish.com) where Stephen wants to help individuals and teams Aspire to a better future and Flourish through training, education and coaching.

Stephen is honoured to act on a number of advisory boards; as a coach for accelerator companies scaling up their businesses; as an angel investor and as a mentor to emerging entrepreneurs in Ireland and internationally.

Stephen is the former global chair of the Global Student Entrepreneur Awards which supports student entrepreneurs around the world and served on the global committee for the Entrepreneurs Organization Accelerator Programme.

Stephen and his Spanish wife have two bilingual daughters and try to spend as much holiday time in Spain as possible.

Where to find Stephen Shortt

Website: successfulsuccession.com

SPONSOR

This episode is sponsored by Entire Productions- Creating events (both in-person and virtual) that don't suck! and Entire Productions Marketing- carefully curated premium gifting and branded promo items. 

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Transcripts

Stephen Shortt:

So we've built a piece of software.

Stephen Shortt:

Where at the moment it's targeted from 16 to kind of 24 years of age.

Stephen Shortt:

So high school and early in college, we can give you a series of

Stephen Shortt:

assessments, aptitudes, your verbal numerical, and abstract reasoning,

Stephen Shortt:

and then an intra inventory.

Stephen Shortt:

So a group of psychometric assessments, then we will be able to give you

Stephen Shortt:

a report, which gives you 16, very targeted careers, very specific careers.

Stephen Shortt:

That you are gonna be good at, and you're gonna enjoy doing a description of

Stephen Shortt:

what's actually involved in that career.

Stephen Shortt:

And then what kind of courses lead to becoming that.

Natasha Miller:

Welcome to FASCINATING ENTREPRENEURS.

Natasha Miller:

How do people end up becoming an entrepreneur?

Natasha Miller:

How do they scale and grow their businesses?

Natasha Miller:

How do they plan for profit?

Natasha Miller:

Are they in it for life or are they building to exit these and a myriad

Natasha Miller:

of other topics will be discussed to pull back the veil on the wizardry of

Natasha Miller:

successful and FASCINATING ENTREPRENEURS.

Natasha Miller:

My book RELENTLESS is now available.

Natasha Miller:

Everywhere books can be bought online, including Amazon and BarnesAndNoble.com.

Natasha Miller:

Try your local indie bookstore too.

Natasha Miller:

And if they don't have it, they can order it.

Natasha Miller:

Just ask them the reviews are streaming in.

Natasha Miller:

And I'm so thankful for the positive feedback, as well as

Natasha Miller:

hearing from people that my memoir has impacted them positively.

Natasha Miller:

It is not enough to be resilient.

Natasha Miller:

You have to be RELENTLESS.

Natasha Miller:

You can go to TheRelentlessBook.com for more information.

Natasha Miller:

Thank you so much.

Natasha Miller:

Steven Short is involved in different industries, including leadership

Natasha Miller:

development and psychometric selection, as well as international education

Natasha Miller:

and training he's delivered seminars and workshops, moderated panel

Natasha Miller:

discussions, and acted as the MC for a range of international events

Natasha Miller:

on the topics of entrepreneurship, international communication leadership.

Natasha Miller:

Social media marketing, audio visual marketing, and more to date, we talk

Natasha Miller:

about an assessment he's developed for young adults to match them with a career.

Natasha Miller:

Also the global student entrepreneurship awards and the culture of

Natasha Miller:

entrepreneurship in Ireland.

Natasha Miller:

Now let's get right into it.

Stephen Shortt:

So psychometric tests, it's a collective term for anything that

Stephen Shortt:

measures human personality, ability, interests, anything that psychoanalyze, so

Stephen Shortt:

psychos to do with the mind and thoughts.

Stephen Shortt:

So psychometric tests are tests that assess your abilities in your

Stephen Shortt:

interests and your personality.

Natasha Miller:

And do you use these tests in your business?

Natasha Miller:

Do you use various tests like Colby and culture index?

Natasha Miller:

And is there a specific one that you use?

Stephen Shortt:

So we are distributors for Hogan assessments in Ireland.

Stephen Shortt:

So Hogan looks at like a 360 of you, they call the day to day, which is the bright.

Stephen Shortt:

Then there's the dark side.

Stephen Shortt:

So at times of high stress, and then there's the inside, which is

Stephen Shortt:

your motor's values and preferences.

Stephen Shortt:

So I'm familiar with culture index in Colby and Myers, Briggs,

Stephen Shortt:

and Disk, and all of these.

Stephen Shortt:

But Hogan is the one that we use more often than any of the others.

Natasha Miller:

Interesting.

Natasha Miller:

I had not heard of that.

Natasha Miller:

Is it very specific to Ireland?

Stephen Shortt:

No, it's actually in Tulsa, Oklahoma, Bob and

Stephen Shortt:

Joyce Hogan live out there.

Stephen Shortt:

They have a fantastic office have been out there and it's worldwide

Stephen Shortt:

is used by, I think something like 97% of the fortune 500 companies.

Stephen Shortt:

And obviously many many companies underneath it.

Natasha Miller:

Amazing.

Natasha Miller:

You learn something incredibly new every day, and I'm not surprised I'm

Natasha Miller:

learning something new from you, but I am feeling a little bit like I should have

Natasha Miller:

known about it before, but it's okay.

Natasha Miller:

We all have our paths.

Stephen Shortt:

That's alright.

Stephen Shortt:

We, we all have secrets that are uncovered from time to time.

Natasha Miller:

So is this a franchise and are you a franchise owner?

Stephen Shortt:

So no, we have our own business.

Stephen Shortt:

So we do career guidance for individuals.

Stephen Shortt:

We do selection for companies.

Stephen Shortt:

We do workshops and training for individuals and for companies, again, team

Stephen Shortt:

development, coaching, this kind of stuff.

Stephen Shortt:

And we are distributors for a number of publishers in Ireland.

Stephen Shortt:

So we are distributors for Pearson, for MHS, for PAR, Hogan is one of 'em as.

Stephen Shortt:

Got it.

Natasha Miller:

I was just introduced to culture index.

Natasha Miller:

And it's interesting to see what you can learn from each of these assessments.

Natasha Miller:

And of course, I don't know, I'm a very gullible and somewhat naive person

Natasha Miller:

in addition to being street smart.

Natasha Miller:

Like doesn't make any sense, but I always wonder.

Natasha Miller:

Is this really a thing I was learning also about strengths finders, right?

Natasha Miller:

What's your top five strengths.

Natasha Miller:

And I thought, well, if I took this, when I was 10 versus 20

Natasha Miller:

versus 51, versus in 10 years, would the answers be much different?

Natasha Miller:

And I'm told by most of the people that.

Natasha Miller:

You should test pretty much right on, no matter how old you are.

Natasha Miller:

Do you agree with that?

Stephen Shortt:

No, because, so, like, I'm not a psychologist, but I do workshops

Stephen Shortt:

in basic psychology and things like that.

Stephen Shortt:

So if I was to ask you, okay, how would you define personality?

Stephen Shortt:

Most people would, they'd be reaching for something academic.

Stephen Shortt:

And there are very, very lengthy academic descriptions, depending on whether

Stephen Shortt:

you're talking about psychosis or whether you're talking about normal, not normal.

Stephen Shortt:

Sorry, whether you're talking about everyday's behavior of people, basically.

Stephen Shortt:

Your personality is simply your predictable behavior, whatever

Stephen Shortt:

other people can observe of you and how you are likely to behave.

Stephen Shortt:

Our behavior is determined by what's called our internal frame of reference.

Stephen Shortt:

So our beliefs are values our perspectives and our habits.

Stephen Shortt:

Ultimately, those are the things which control our behavior,

Stephen Shortt:

which in turn controls ourself.

Stephen Shortt:

If somebody were to say to you, I'm an introvert.

Stephen Shortt:

I don't like talking to people.

Stephen Shortt:

You go to a party or you go to a networking event, you don't recognize

Stephen Shortt:

anybody and you physically take a half a step back and then you

Stephen Shortt:

take another step back.

Stephen Shortt:

And then a second later, you're at the wall.

Stephen Shortt:

You're back at the wall.

Stephen Shortt:

Nobody's talking to you whip out your phone, which puts a barrier

Stephen Shortt:

between you and the other person.

Stephen Shortt:

Still nobody's talking to me.

Stephen Shortt:

They're not very friendly here.

Stephen Shortt:

I'll go.

Stephen Shortt:

That's your behavior, your habits and your perspectives.

Stephen Shortt:

If we were to force you then to go to the next event, and instead of taking that

Stephen Shortt:

half a step back, you stumble forward and you start talking to the group of people.

Stephen Shortt:

You are gonna feel like such an idiot.

Stephen Shortt:

Your foot is gonna be in your mouth.

Stephen Shortt:

You're gonna stumble over your words.

Stephen Shortt:

This is all gonna be completely new to you.

Stephen Shortt:

But you'll get over it.

Stephen Shortt:

And if you do it again and again and again, and then that little trigger, that

Stephen Shortt:

little habit that you form when you walk in to step forward, fast forward a year,

Stephen Shortt:

and somebody else sees you at the same networking event, they're going, wow.

Stephen Shortt:

That person is the next expert because you've changed your habits.

Stephen Shortt:

You've changed your beliefs and your perspectives.

Stephen Shortt:

So your personality has changed and our personality evolves over time.

Stephen Shortt:

What was interesting for me 10 years ago, maybe 15 years

Stephen Shortt:

ago before my kids were born.

Stephen Shortt:

And what's interesting for me now, what I like doing now.

Stephen Shortt:

So my interest changed what I want changes.

Stephen Shortt:

You wouldn't necessarily see somebody going massive swings from one end

Stephen Shortt:

of a spectrum to another, unless there has been a life altering event.

Natasha Miller:

Right.

Natasha Miller:

Right.

Stephen Shortt:

But generally we evolve and we move over time.

Natasha Miller:

Great.

Natasha Miller:

Thank you for clarifying that.

Stephen Shortt:

If I was still the same person I was, when I was 16,

Stephen Shortt:

nobody would want to talk to me.

Natasha Miller:

I'm not sure that's true.

Natasha Miller:

I'd wanna talk to you, but then I'd probably wanna switch

Natasha Miller:

back to the, you now quickly.

Natasha Miller:

Describe your team who works with you.

Natasha Miller:

How do you get work done?

Stephen Shortt:

So I actually, I have a really small team now.

Stephen Shortt:

So I had an English language school here in Dublin.

Stephen Shortt:

We sold that right before COVID.

Stephen Shortt:

So we on my last day was the same day.

Natasha Miller:

Congratulations!

Stephen Shortt:

Wuhan announced that COVID was a thing.

Stephen Shortt:

So I'm never playing the lottery because I won it that day.

Stephen Shortt:

But so now I have a team of basically four people plus my folks.

Stephen Shortt:

So we all work together in a small team.

Stephen Shortt:

We're growing it at the moment.

Stephen Shortt:

Now, once we've come outta COVID.

Natasha Miller:

You just said plus you're folks.

Natasha Miller:

And I'm going to assume you met your parents.

Stephen Shortt:

My parents.

Stephen Shortt:

Yes.

Natasha Miller:

Yeah, which-

Stephen Shortt:

So both businesses are family.

Stephen Shortt:

So family business, both of them, the language school, and the psychometrics

Stephen Shortt:

business, both family businesses.

Stephen Shortt:

I bought my parents out of both of the businesses.

Stephen Shortt:

So that's why one of the army, what we do now is actually fun.

Stephen Shortt:

And family businesses, succession plan.

Stephen Shortt:

So I have a keynote which is build a killer family business without

Stephen Shortt:

killing your family based on a lot of the stuff that I learned at

Stephen Shortt:

the time of taking over two family businesses and selling one of them.

Natasha Miller:

Well, that was a brilliant segue to what I wanted to talk to you

Natasha Miller:

about next was your keynote speaking and emceeing how did you come to know that you

Natasha Miller:

were a speaker or wanted to be a speaker?

Natasha Miller:

And I mean, keynote are, you have to spend a lot of time.

Natasha Miller:

Working out the kinks and making sure it's so great.

Natasha Miller:

Emceeing is more of a personality and ability to communicate and stage presence.

Natasha Miller:

I'm not saying it doesn't take work, but they're two separate things.

Natasha Miller:

Not all keynote speakers can be good Emcees and vice versa, but you do both.

Natasha Miller:

So just talk to us about everything about both sides.

Stephen Shortt:

You're asking in an Irish moment with a microphone

Stephen Shortt:

to talk to you about everything.

Stephen Shortt:

And you said you wanted to be short-

Natasha Miller:

Regarding emceeing and keynote speaking very specifically.

Stephen Shortt:

So before I was in EO, I had done a couple of wedding speeches,

Stephen Shortt:

best man speeches, and I've done a best man speech in English, Swedish and

Stephen Shortt:

Finish and a wedding speech in Spanish as well because my wife is Spanish.

Natasha Miller:

Do you speak all those languages fluently?

Stephen Shortt:

I speak Spanish a little bit, but I had to get the Swedish and the

Stephen Shortt:

Finish translated and Swedish was okay.

Stephen Shortt:

Finish.

Stephen Shortt:

Oh my God.

Stephen Shortt:

Anyway, so I had not done a lot of public speaking.

Stephen Shortt:

I hadn't really done any.

Stephen Shortt:

Professional speaking.

Stephen Shortt:

I didn't give presentations at work and marketing presentations and

Stephen Shortt:

pitches and things like that, but that's a different, cut of Phish.

Stephen Shortt:

Then I was lucky enough to get involved in EO and the global student entrepreneur

Stephen Shortt:

awards, the GSCA competition, which is still my favorite program in EO.

Stephen Shortt:

And we were having a European event.

Stephen Shortt:

And the European event, we were putting it on because we didn't

Stephen Shortt:

have many applicants in Europe.

Stephen Shortt:

So we did a big thing where we had lots of countries come to an event

Stephen Shortt:

in Germany and Miranda Barrett.

Stephen Shortt:

Who's a staff member who you may remember still very good friends with her.

Stephen Shortt:

She's no longer with you.

Stephen Shortt:

She just said about a week before.

Stephen Shortt:

Oh, Steven, you like talking, youm see this.

Stephen Shortt:

And that was the very first time I CEED an event.

Stephen Shortt:

And then I went on and I've, CEED the American final for the GSA.

Stephen Shortt:

I've done a couple of the global finals.

Stephen Shortt:

I was lucky enough to do a president's meeting in Europe,

Stephen Shortt:

which I was terrified about because-

Natasha Miller:

Speaking for your peers is a whole nother level of terrifying.

Natasha Miller:

I would rather speak to 40,000 people.

Natasha Miller:

I have never met before in my life and will never see

Natasha Miller:

again than my own EO chapter.

Natasha Miller:

And for those of you listening to this podcast, if you don't know what EO

Natasha Miller:

is, it's entrepreneurs, organization.

Natasha Miller:

It's amazing.

Natasha Miller:

You can DM me for more information or just look it up, continue.

Stephen Shortt:

So then fast forward a couple years later, and I've been involved

Stephen Shortt:

in do workshops in EO, in Entrepreneurs Organization for strategic planning.

Stephen Shortt:

I do workshops for a leadership academy and I was asked by a very dear friend

Stephen Shortt:

of mine, Miranda Niman in EO, Tanzania, who I think you're familiar with.

Stephen Shortt:

She was a she's Global Learning Chair.

Stephen Shortt:

She was in head of GLC X the year that we went virtual in 2020.

Stephen Shortt:

And she said, "Would you be interested in doing a talk?"

Stephen Shortt:

And I said, "sure" what do I do?

Stephen Shortt:

What do I talk about?

Stephen Shortt:

And then I sat down with some people and I'd been working on some talks on

Stephen Shortt:

kind of leadership and on psychometrics and leadership and personality.

Stephen Shortt:

And I developed a couple of these, but there was nothing unique about it.

Stephen Shortt:

And then I started toying with the idea of succession planning because

Stephen Shortt:

I'm in two family businesses sold one just before the world fell

Stephen Shortt:

apart, a building the other one.

Stephen Shortt:

So that's where we came up with.

Stephen Shortt:

So there's a whole arm of the business now called successful success.

Stephen Shortt:

Where we do workshops and we do consulting.

Stephen Shortt:

We do coaching, but we don't do so much coaching, but we do consulting

Stephen Shortt:

and we do, a workshops for people.

Stephen Shortt:

And now this is where the keynote came out of.

Natasha Miller:

So, are you making money doing keynote speaking, or are

Natasha Miller:

you really focusing on generating leads or is it a hybrid of both?

Stephen Shortt:

It's a hybrid of both, but I know the argument of, do you make

Stephen Shortt:

money for the talk or from the talk?

Stephen Shortt:

So I don't really have too much downstream yet, so we have, I can do some workshops

Stephen Shortt:

and I can do some other stuff, but I don't have a pipeline built up.

Stephen Shortt:

So really it's for me to talk to people who are interested.

Stephen Shortt:

People who can maybe learn something or get a little nugget

Stephen Shortt:

from some of my experience who are going through the similar things.

Stephen Shortt:

And I've had conversations one on one with people who are going through very

Stephen Shortt:

similar things that I went through when I nearly left the family business years

Stephen Shortt:

ago, because I figured we wouldn't be able to be in the same room together.

Stephen Shortt:

My parents will never see their grandkids because we can never speak to each other.

Stephen Shortt:

I mean, I've gone through a lot of the ups and downs of that.

Stephen Shortt:

Really, what I'm trying to do is help people in a similar situation

Stephen Shortt:

and put good into the world.

Stephen Shortt:

But at the same time, I do want to get paid for taking

Stephen Shortt:

time away from the business.

Stephen Shortt:

And then if I put all this stuff down in a book and try and

Stephen Shortt:

sell the book and all the rest.

Natasha Miller:

Yeah, well sharing that.

Stephen Shortt:

I think I might know some people who can do some,

Stephen Shortt:

help me with the book stuff.

Natasha Miller:

You will, we can talk later.

Stephen Shortt:

Yeah.

Natasha Miller:

Have you ever thought that you should write a book that you should

Natasha Miller:

write the story of your life to help other people learn from your experience?

Natasha Miller:

Please go to MemoirSherpa.com and learn how I can help you write, figure out your

Natasha Miller:

publishing path and market your story, your memoir to a best seller status.

Natasha Miller:

We're gonna move on to GSEA, which we need to tell the

Natasha Miller:

listeners what that stands for.

Natasha Miller:

And I'd like you to talk about own the room.

Stephen Shortt:

So yeah, GSEA is the Global Student Entrepreneur Awards.

Stephen Shortt:

This is a program run by entrepreneurs organization, and

Stephen Shortt:

it's a competition globally.

Stephen Shortt:

We're in about 52, 53 countries around the world, probably run national competitions

Stephen Shortt:

where we are targeting university level students, third level students.

Stephen Shortt:

Who own and operate their own business to try and show them, yes, you can

Stephen Shortt:

do what you're studying and you can study some amazing things, but

Stephen Shortt:

you can also be an entrepreneur.

Stephen Shortt:

And entrepreneurship is a viable alternative instead of going out and

Stephen Shortt:

in inverted com is getting a real job.

Stephen Shortt:

So we get these amazing, passionate idea driven, very eager university

Stephen Shortt:

students from around the world.

Stephen Shortt:

And for a lot of them, this is their first time really interacting with

Stephen Shortt:

other people like them because.

Stephen Shortt:

Like a lot of entrepreneurs operating in kind of silos and going, am

Stephen Shortt:

I weird for wanting to build it?

Stephen Shortt:

Like everyone else is wanting to get a safe job?

Stephen Shortt:

Am I, is there something wrong with me?

Stephen Shortt:

Like what's going on.

Stephen Shortt:

And when they meet these other people who have completely different

Stephen Shortt:

businesses, but they're still going through the same stuff, how do I

Stephen Shortt:

market, how do I set up my business?

Stephen Shortt:

How do I get a chief operating officer?

Stephen Shortt:

Or how do I do this?

Stephen Shortt:

Or how do I get an investor or a mentor, all this kind of stuff.

Stephen Shortt:

And it is absolutely mesmerizing to see the benefit that these students get.

Stephen Shortt:

And I just love being around.

Stephen Shortt:

The university, these students and the energy and the insights, and really you

Stephen Shortt:

get a feel for what's coming in 10 years time, like we were looking at virtual

Stephen Shortt:

reality heads up displays in Germany.

Stephen Shortt:

And that very first thing that I was talking about, for example,

Stephen Shortt:

and AI and machine learning.

Stephen Shortt:

And it was really ahead of anything that would be involved

Stephen Shortt:

in my professional world.

Stephen Shortt:

So I was able to get a heads up on a lot of that.

Stephen Shortt:

So I really love the program and then Own The Room.

Stephen Shortt:

So Own The Room is a documentary that is on Disney plus, which is why actually,

Stephen Shortt:

if you look at my LinkedIn profile on the headline of my LinkedIn profile, I

Stephen Shortt:

actually say that I am a Disney princess and I am happy to defend that title so,

Stephen Shortt:

because I am on Disney plus, so this is a documentary that was done by, I can't.

Stephen Shortt:

Just slipping on the name of the company, two brilliant documentary makers, it, a

Stephen Shortt:

team of about three or four people came out to Macau and we had a great time.

Stephen Shortt:

They were really involved.

Stephen Shortt:

They really got to know the students and they followed five of the students

Stephen Shortt:

of the 50 that we had in Macau.

Stephen Shortt:

And it's amazing.

Stephen Shortt:

The five they picked, I genuinely I've said to people, they were

Stephen Shortt:

the five people that they picked.

Stephen Shortt:

They didn't like interview everybody and just pick those five it's,

Stephen Shortt:

they interviewed everybody and they picked five to follow because that's

Stephen Shortt:

all they could afford to follow, like for the funding that they had.

Stephen Shortt:

And I mean, they pick.

Stephen Shortt:

The winner, the winner of two different awards and another one who,

Stephen Shortt:

I mean, his story is just phenomenal.

Natasha Miller:

Even they didn't have the advantage of being followed.

Stephen Shortt:

That's not why they won.

Stephen Shortt:

Right.

Stephen Shortt:

There's no way that that could have

Stephen Shortt:

no, absolutely not.

Stephen Shortt:

Because nobody knew, like, I don't think people knew the extent of what

Stephen Shortt:

the documentary was going to do.

Stephen Shortt:

I think they might have thought, oh, GSEA or documented this.

Stephen Shortt:

No, it was a professional documentary team that had asked us, can they use

Stephen Shortt:

our backdrop as part of the story?

Stephen Shortt:

So it wasn't commissioned by us.

Stephen Shortt:

It was commissioned actually by shop.

Natasha Miller:

Jenny Feterovich involved in that at all?

Stephen Shortt:

No, she wasn't

Stephen Shortt:

- Natasha Miller: In Detroit.

Stephen Shortt:

Yeah, she wasn't-

Natasha Miller:

Sounds like something she could be interested in or

Natasha Miller:

involved in, in the kind of her jam.

Stephen Shortt:

So the people who did this documentary, they did one,

Stephen Shortt:

a couple of years before that called Science Fair, where they followed

Stephen Shortt:

a couple of kids on an American.

Stephen Shortt:

It was an American focused Science Fair documentary about some student

Stephen Shortt:

and the ins and outs of that.

Stephen Shortt:

And then they wanted to do it on student entrepreneurship and GSEA

Stephen Shortt:

was the perfect backdrop for.

Natasha Miller:

That's amazing.

Natasha Miller:

I haven't seen it yet.

Natasha Miller:

I'm going to watch it this week.

Stephen Shortt:

Amazing.

Stephen Shortt:

So a little inside story that you won't see in the documentary, but

Stephen Shortt:

there's a little easier to notice.

Stephen Shortt:

So Adrian Palmer, former global board member of globally, of, EO amazing,

Stephen Shortt:

amazing entrepreneur in EO member.

Stephen Shortt:

She was the head of the American GSCA competition.

Stephen Shortt:

And when they picked Daniella Blanco to represent America, They wanted her mother

Stephen Shortt:

to come from South America to Macau.

Stephen Shortt:

The story was amazing.

Stephen Shortt:

We were on board calls.

Stephen Shortt:

Like I was the chair of the competition.

Stephen Shortt:

I was the EMC of the competition.

Stephen Shortt:

So I was the chair of the whole committee.

Stephen Shortt:

So we were on calls and she was really pushing, going, look, we

Stephen Shortt:

gotta get this woman to Macau.

Stephen Shortt:

And I'm looking at her going, we have so much to do.

Stephen Shortt:

Like, why do we want to add more?

Stephen Shortt:

We have 52 students from around the world to get.

Stephen Shortt:

Why are we doing this?

Stephen Shortt:

And she just said, no, okay.

Stephen Shortt:

I'll do it.

Stephen Shortt:

And she moved mountains to get her to Macau, to get visas, to

Stephen Shortt:

get tickets, to get the hole on.

Stephen Shortt:

And she got it and she got it over the line.

Stephen Shortt:

And the whole time I remember I met Danielle and I met them

Stephen Shortt:

on, they were lovely people and everything else was fine.

Stephen Shortt:

And then I watched her on stage and I sent, I mean, Daniella hadn't

Stephen Shortt:

even finished her pitch and I sent Adrian a message on my WhatsApp.

Stephen Shortt:

Cause I could see her in the audience with his mother and I

Stephen Shortt:

was like, wow, you were right.

Stephen Shortt:

This is amazing, so it's an amazing story and what Daniella's done

Stephen Shortt:

and how the relationship with the mother, it was just phenomenal.

Stephen Shortt:

It is shown a little bit in the documentary, but Adrian just genuinely

Stephen Shortt:

moved mountains to make sure that her.

Stephen Shortt:

That's cool.

Natasha Miller:

Thank you for that behind the scenes.

Natasha Miller:

Look, I'd like to talk about the entrepreneurial mindset in Ireland.

Natasha Miller:

I do know that through Babson college, I was asked to mentor a group of

Natasha Miller:

Scottish entrepreneurs and the idea of entrepreneurship and taking risks.

Natasha Miller:

It's not culturally, really, this was a few years ago, really honored.

Natasha Miller:

What is it like in Ireland these days?

Stephen Shortt:

In Ireland is very different.

Stephen Shortt:

It is very, we are a very entrepreneurial country in general.

Stephen Shortt:

So we are known kind of throughout the world, I suppose, as being

Stephen Shortt:

the European headquarters for the likes of Facebook and Google.

Stephen Shortt:

And yeah,

Natasha Miller:

I saw that when I was in Dublin, all these places, I

Natasha Miller:

was like, "oh, am I in San Francisco?

Natasha Miller:

Or is this Dublin?"

Natasha Miller:

Yeah.

Stephen Shortt:

So, even though we are the location for all of those headquarters,

Stephen Shortt:

something like, I think it's 80% of the Irish economy is made up by small

Stephen Shortt:

businesses like EO level and accelerator level businesses, all the pubs,

Natasha Miller:

including yeah, the pubs, yeah.

Stephen Shortt:

Yeah.

Stephen Shortt:

The pubs, the shops now there's chains.

Stephen Shortt:

I mean, there's chains of shops and chains of stores, but a lot of the stores, a

Stephen Shortt:

lot of the businesses are these one off small companies kind of doing their thing.

Stephen Shortt:

Selling into the market.

Stephen Shortt:

So entrepreneurship is very much alive and always has been because even when

Stephen Shortt:

we became a Republic, we didn't have the benefit of the massive engine of England.

Stephen Shortt:

For example, having factories and having big companies and having

Stephen Shortt:

like one company could have like 300 locations around the country.

Stephen Shortt:

We didn't have that for our size for everything else.

Stephen Shortt:

So there has been this real embedding in our DNA, I suppose, of small family

Stephen Shortt:

businesses, bakeries, restaurants, pubs shops, horse riding ledger, whatever.

Natasha Miller:

Yeah.

Stephen Shortt:

So there are a lot, a lot of family ES it's

Stephen Shortt:

actually one of the reasons there's so much kind of investment.

Stephen Shortt:

There's so many accelerator programs.

Stephen Shortt:

There's so many support programs.

Stephen Shortt:

It's actually one of the reasons that we find it difficult to get people

Stephen Shortt:

onto the EO accelerator program, because there are so many out there

Stephen Shortt:

that people just go, oh, and they don't pay attention to any of them because

Stephen Shortt:

they think they're all the same.

Stephen Shortt:

Even though the EO one is obviously very different.

Natasha Miller:

Is entrepreneurship brought up at all in the

Natasha Miller:

upper high school level.

Natasha Miller:

I'm not sure what you call that level in Ireland.

Stephen Shortt:

Secondary school, not.

Stephen Shortt:

So we do have this thing called the Young Scientist Award where kind of two

Stephen Shortt:

years before you finish high school.

Stephen Shortt:

So I think it's about the time you go from middle school to high school,

Stephen Shortt:

that kind of 15, 16 years of age.

Stephen Shortt:

So there are competitions, but it's not a core subject.

Stephen Shortt:

It's not something that everybody learns about, but there are competitions for

Stephen Shortt:

science and for businesses and for build your own business kind of thing.

Stephen Shortt:

But even in the business curriculum for people who do the national

Stephen Shortt:

curriculum coming up to their leaving cert business is still a bit generic.

Natasha Miller:

They're talking about you working at somebody

Natasha Miller:

else's business, right?

Stephen Shortt:

Maybe you working at someone else's business or you

Stephen Shortt:

working for yourself, but it's more about, this is what marketing is.

Stephen Shortt:

This is about finance business is what, so it's an understanding of the

Stephen Shortt:

functions of business, as opposed to actually going out there and grabbing

Stephen Shortt:

the world by the end of the year.

Natasha Miller:

What is the challenge that you're focusing on or dealing with or

Natasha Miller:

mitigating right now in your own business?

Stephen Shortt:

So we spent COVID rebuilding a program that we had

Stephen Shortt:

developed and we rebuilt from the ground up with a completely new algorithm.

Stephen Shortt:

So we've built a piece of software where if you are 16 years of age.

Stephen Shortt:

So at the moment it's targeted from 16 to kind of 24 years of age.

Stephen Shortt:

So high school and early in college, we can give you a series of

Stephen Shortt:

assessments, aptitudes, your verbal numerical, and abstract reasoning,

Stephen Shortt:

and then an interest inventory.

Stephen Shortt:

So a group of psychometric assessments, then we will be able to give you

Stephen Shortt:

a report, which gives you 16, very targeted careers, very specific careers.

Stephen Shortt:

That you are gonna be good at, and you're gonna enjoy doing a description of

Stephen Shortt:

what's actually involved in that career.

Stephen Shortt:

And then what kind of courses lead to becoming that career?

Stephen Shortt:

Very, very targeted.

Stephen Shortt:

Nothing really like it in the world.

Stephen Shortt:

So we launched it last September.

Stephen Shortt:

So we go, academic year because it's targeting into schools.

Stephen Shortt:

We got amazing feedback.

Stephen Shortt:

We've tweaked a couple things, a bit of the UI, a bit of the all based

Stephen Shortt:

on like, everybody has a strategy until they get punched in the face.

Stephen Shortt:

I think it was Mike Tyson said that.

Stephen Shortt:

So it went out into the market.

Stephen Shortt:

We go, this is perfect.

Stephen Shortt:

And then people were like, oh, why is that button there or this?

Stephen Shortt:

Anyway, so now what we're doing, we're spending the summer

Stephen Shortt:

tweaking the bits that are Irish specific to make it international.

Stephen Shortt:

And then we're launching into the UK.

Stephen Shortt:

Next year.

Stephen Shortt:

So in September, I had some meetings with people in Malta.

Stephen Shortt:

I was on holiday last week, but I'm an entrepreneur.

Stephen Shortt:

So I had meetings while I was on holiday.

Stephen Shortt:

Then we'll probably be going either to Australia, New Zealand or to Canada,

Stephen Shortt:

because there are national things when the states is kind of our last port,

Stephen Shortt:

because we have to go state by state.

Stephen Shortt:

So that's what we're focusing on right now and just getting the I that part.

Natasha Miller:

I love that and do you, is your target market schools

Natasha Miller:

and counselors, or is it individuals.

Stephen Shortt:

So at schools and we've built a way for these

Stephen Shortt:

counselors to have a dashboard so they can upload all their students.

Stephen Shortt:

They can manage all of their students and see the individual reports and

Stephen Shortt:

message the individual students.

Stephen Shortt:

So basically we do all of the heavy lifting for the counselors.

Stephen Shortt:

So when the counselor gets the report, the other thing that we do, that's

Stephen Shortt:

different, a lot of places will do norm based charts where they'll go.

Stephen Shortt:

Okay.

Stephen Shortt:

Well, in relation to the rest of the population of America, you are in

Stephen Shortt:

the 66 percentile , doesn't actually tell you a huge amount as to how well

Stephen Shortt:

they're gonna do in a particular job.

Stephen Shortt:

We also do selection.

Stephen Shortt:

We know what it takes to do well in all of these careers.

Stephen Shortt:

So we are criterion referenced.

Stephen Shortt:

So we actually match the career to you as opposed to you to the career.

Stephen Shortt:

So all of that lifting is done for the counselor or for the parents or

Stephen Shortt:

for anybody else of kids of that age that are not sure what they wanna do.

Stephen Shortt:

And they can sit down and read the highly targeted careers and then they

Stephen Shortt:

can have really in depth conversations.

Stephen Shortt:

So what is it that appeals to you about that?

Stephen Shortt:

What doesn't appeal to you about that?

Stephen Shortt:

We might have things like you might get a kid might get real estate, a real

Stephen Shortt:

estate agent as one of their careers.

Stephen Shortt:

And they might say, "oh, my parents are real estate agents."

Stephen Shortt:

I hate going to open houses or whatever it is.

Stephen Shortt:

First of all, you're never gonna get that from an assessment.

Stephen Shortt:

Right.

Stephen Shortt:

But it does actually show that even though they might hate the

Stephen Shortt:

idea of working with their parents, actually they'd be good at it.

Stephen Shortt:

If they have experience, they enjoy aspects of it.

Stephen Shortt:

And their personality obviously leans towards being able to engage

Stephen Shortt:

with people on that kind of a level.

Stephen Shortt:

So that's where the counselors and the parents can have much

Stephen Shortt:

more in depth conversations about the real aspects of what the job.

Stephen Shortt:

So that's who we're working on right now.

Natasha Miller:

I love this idea so much.

Natasha Miller:

And there's such a need for it.

Natasha Miller:

There may be other tools out there that I'm not aware of, but I can

Natasha Miller:

tell you this, my counselors didn't have that, anything like that.

Natasha Miller:

And also they looked at me and actually they didn't look at me.

Natasha Miller:

I was invisible.

Natasha Miller:

I didn't even.

Natasha Miller:

Have a counselor because I was not their typical student.

Natasha Miller:

And they thought that I wasn't going to go to any kind of school.

Natasha Miller:

Yeah.

Stephen Shortt:

So the couple of things that I really noticed when people who

Stephen Shortt:

have been through it, when they give me feedback on this, first of all,

Stephen Shortt:

if I was to sit down with you and say, "Okay, for the next three hours,

Stephen Shortt:

we're gonna sit down and you're gonna list every career that you can think.

Stephen Shortt:

How many do you think you could give?"

Natasha Miller:

Right, right, right.

Natasha Miller:

There's a bunch, I don't know.

Stephen Shortt:

Most people say between 250 to 300 careers.

Stephen Shortt:

Most people would say that if I was to say, okay, well then how

Stephen Shortt:

many of those could you explain?

Stephen Shortt:

Most people cut that in half.

Stephen Shortt:

And then I said, okay, do you know what it takes to do well in each of those careers?

Stephen Shortt:

Most people will cut that down to even less than half to understand what it takes

Stephen Shortt:

to do well from an aptitude point of view.

Stephen Shortt:

So career guidance answers are teachers are people who are

Stephen Shortt:

not properly trained in this.

Stephen Shortt:

It's not their day to day.

Stephen Shortt:

They're trying to do a lot of other things.

Stephen Shortt:

They don't have the time to research all of these careers.

Stephen Shortt:

So that's why a lot of people in Ireland, for example, go,

Stephen Shortt:

"oh, you should into business."

Stephen Shortt:

"You should be a nurse.", "You should be a lawyer."

Stephen Shortt:

Like there's a couple of the big careers that they just tell people that it fits.

Stephen Shortt:

We have a database of 1000, 270 careers with the description for each how to go

Stephen Shortt:

back, getting into each of those and what it takes to do well in each of those.

Stephen Shortt:

So we match those careers very specifically to students.

Stephen Shortt:

For example, if you have an interest in numerical careers, for example,

Stephen Shortt:

you might be told, oh, you should go off and be an accountant.

Stephen Shortt:

But actually if you've got really good verbal skills and really good

Stephen Shortt:

abstract reasoning skills, you might not make a good accountant.

Stephen Shortt:

You could be a really good CFO.

Stephen Shortt:

Because you're not good at actually crunching the numbers, but you're very

Stephen Shortt:

good at articulating and visualizing the numbers, or you might be very good

Stephen Shortt:

verbally, but actually you don't have an interest in being in front of the camera.

Stephen Shortt:

So you might get journalist instead of TV producer, for example.

Stephen Shortt:

So there's a lot of that stuff.

Stephen Shortt:

And that whole algorithm was really fun to argue each of these conversations.

Natasha Miller:

I mean, it sounds like so much work.

Natasha Miller:

I, I can't even imagine what kind of lift that took.

Natasha Miller:

That's a big number and those are really deep things that you are

Natasha Miller:

considering within all of those careers.

Natasha Miller:

And I was wondering, I'm assuming that.

Natasha Miller:

There are careers that these people have never heard of before.

Natasha Miller:

So if they haven't heard of them, they haven't considered them.

Natasha Miller:

And wow, what a mind opening project?

Stephen Shortt:

So my wife, when we were doing this, my wife is a teacher.

Stephen Shortt:

She's a secondary school teacher, high school teacher.

Stephen Shortt:

And when we were, obviously we were testing this out for the year and we

Stephen Shortt:

all did it multiple times where we did answer different questions but when she

Stephen Shortt:

did it for the first time, one of the career, she didn't get teachers a career.

Stephen Shortt:

Because most people, when you talk to teachers who are not really happy with

Stephen Shortt:

teaching it's because they have this romanticized version of what teaching is

Stephen Shortt:

not actually, you're gonna spend most of your time teaching kids, how to learn,

Stephen Shortt:

learn, to read, and write and do maths.

Natasha Miller:

And behavior situations.

Natasha Miller:

Right?

Natasha Miller:

That's

Natasha Miller:

- Stephen Shortt: So we have a much

Natasha Miller:

takes to be a teacher and what interested it is to be a teacher.

Natasha Miller:

She got a career that she had never heard of.

Natasha Miller:

Like she read it and she went, I didn't know that this was an options.

Natasha Miller:

So it was, hospital play specialist.

Natasha Miller:

So all of the games, all of the development, all of the nurturing for

Natasha Miller:

kids who are in hospital long term, acute care, all this kind of stuff,

Natasha Miller:

but they still need support and care.

Natasha Miller:

And there are people who do that.

Natasha Miller:

And she was like, this is exactly.

Natasha Miller:

I mean, I would love to do this job.

Natasha Miller:

Now.

Natasha Miller:

My kids are in the school that she teaches in.

Natasha Miller:

So we have an agreement on fees.

Natasha Miller:

So she's not allowed to change her career for a couple years.

Natasha Miller:

Right.

Natasha Miller:

She's stuck with it for a minute.

Stephen Shortt:

Yeah.

Stephen Shortt:

But as soon as my youngest graduates, I think she's gonna be looking at

Stephen Shortt:

that career change, amazing career, but it's exactly you say she never

Stephen Shortt:

even knew that it was a thing.

Natasha Miller:

Right.

Natasha Miller:

What career did you get matched with?

Stephen Shortt:

I mean, I got a lot of the things that I've grown

Stephen Shortt:

up with psychometrics, and I've grown up with personality profiling

Stephen Shortt:

because it's my family business.

Stephen Shortt:

So I've done these from a young age.

Stephen Shortt:

So it has always kind of pushed me into marketing, entrepreneurship,

Stephen Shortt:

public speaking, and like doing stuff for other people.

Natasha Miller:

Because you know about these assessments and such.

Natasha Miller:

Do you think that actually a genuinely good subject to take

Natasha Miller:

the assessments because you kind of know what they're looking for?

Stephen Shortt:

Yes and no, but I mean, all of these assessments

Stephen Shortt:

are all self-reporting anyway.

Stephen Shortt:

So whether you know, or not, you're still saying what you believe about yourself.

Stephen Shortt:

So it's one of the things with Hogan.

Stephen Shortt:

For example, the one that we talked about, it's actually a fake 360.

Stephen Shortt:

It's not really, it doesn't care about your identity.

Stephen Shortt:

It cares about your reputation, but that's a whole different conversation.

Natasha Miller:

For more information, go to the show notes for you

Natasha Miller:

listening to this podcast cast.

Natasha Miller:

Wanna know more about me go to my website, OfficialNatashaMiller.com.

Natasha Miller:

Thank you so much for listening.

Natasha Miller:

I hope you loved the show.

Natasha Miller:

If you did, please subscribe also, if you haven't done so yet,

Natasha Miller:

please leave a review where you're listening to this podcast now.

Natasha Miller:

I'm Natasha Miller and you've been listening to FASCINATING ENTREPRENEURS.

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