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Episode #109 - How To Run A Business (In Any Type Of Climate!)
Episode 1137th May 2024 • Speaking From The Heart • Joshua D. Smith
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There are a variety of different strategies that you can employ to have a competitive edge over the competition. Whether you consider it for personal or professional gain, there are a number of strategies that can help to get a short term gain. Are a series of short term gains really a good strategy, particularly if you are planning for your future, often considered the long term? Today’s episode examines not only what is needed to strategize effectively, but talks about a universal concept that all ideologies embrace in order to be successful. Not only does this change everything that you should be thinking about, but how you will be able to tolerate “get rich quick” schemes in the future.

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Intro/Outro By: Michael Dugan, Podcast Host: Voice4Chefs

Transcripts

Intro:

Welcome to the podcast where relationships, confidence, and

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determination all converge into

an amazing, heartfelt experience.

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This is Speaking From The Heart.

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Joshua: Welcome back to episode number

109 of Speaking from the Heart, and

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today, we're going to go back to a

concept that we talked all the way

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back in episode number three, in which

we're going to now examine it in the

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sense of our businesses, and how we

can succeed in any type of climate.

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Now, before you even say anything about

the fact that this episode seems to be

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a little caveat to the fact that we're

going through quite a economic hardship

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all across the world, especially here

in the United States when it comes to

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even struggling to survive, whether

it's for your business or individually,

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I want you to understand that it's

not just about what the short term is,

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it's about the long term, and the long

term is really what's more important

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than anything else, especially if we're

going to be able to work on ourselves.

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That's why I even stress in my

business, Your Speaking Voice, LLC,

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about understanding what the long term

implications, or the goals that you set,

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are in order to be able to understand

and adapt to all the different types of

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competition that exist, and, even with

all that said, I know that for many

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coaches, goals are just an amazing thing

to work on, and I'm a little bit cliché

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when it comes to understanding that

goals might not always be the best way in

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which we can move forward, but understand

for a moment that goals are really the

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underpinning to the bigger expansions

of time and space that we can ultimately

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achieve, whether it's through the things

that we want to achieve economically,

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whether we want to achieve physical

assets or even other opportunities,

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it's about living in the moment of a

mindset of understanding how you can

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run yourself into a great opportunity.

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Although today I'm going to focus

more on my business folks, for those

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that are not in business, keep in

mind that maybe these attitudes,

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these different perceptions that we're

going to discuss, might be related to

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even you personally for that matter.

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Now there's a variety of different

strategies out there that have existed for

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more than half century to over a century.

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Let's face it.

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Businesses have existed for a very,

very long time, even dating back to the

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early era of humans, human civilization

for that matter, and even when we think

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about the fact that we have to be able

to overcome some of the struggles that

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were existing right now, whether we're

trying to feed ourselves, whether we're

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trying to clothe ourselves, whatever

that circumstance is, we are ultimately

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looking at the fact that we need to have

these gains in order to keep evolving.

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That's why we have things like the

New York Stock Exchange, having the

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things in which we can trade for

commodities and different values of

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stock in order to grow our portfolio.

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If you think about it, we each have

our own portfolio of different types

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of growth that we want to have, whether

we want to work on a new skill, a

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new ability, or have the thirst for

knowledge of learning from something

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in the past, present, or even future.

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Having the things that we have

available to us in our portfolio

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allow us to succeed in the long run.

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We often look at this in the

business world as our business plan.

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Where are we going to segment

our business in order for us

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to grow and what backs us up?

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What really makes us qualified to

do it, but more importantly, how

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are you going to continue to be

qualified to be able to help others?

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It's really about not only the short term

goals that we're trying to achieve, but

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it's about how we can plan for the future.

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What is our long term strategy

in order to achieve what we

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ultimately are setting out for?

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That's why the mission or even the

vision, or even the values of our

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businesses, make such a big difference.

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A lot of times, even for businesses for

that matter, having the right strategy

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in which you're communicating those to

your stakeholders or even the people of

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interest that want to be part of your

business, oftentimes means examining what

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is truly important for you to grow, to be

able to understand that maybe those things

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that you're doing today aren't necessarily

going to work in the future, so when we

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look at what we have to do, we also have

to look at what that means when we move

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those chess pieces on the chess board.

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Now, a couple of things to think

about when you're strategizing.

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A coach can always make such a big

difference in doing that, and I will

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always, always, always recommend that

if you have a certain stage of your

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business that you're working at, whether

you're a small business, turning into a

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medium sized business, or even a medium

sized business, turning into a large

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business or a large business, becoming

an enterprise, regardless of what it

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is, get the right person that will help

you align with your values, and when

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I say person in this context, I don't

necessarily mean hiring the one individual

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that will help you take it there.

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It could be a number of different people.

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It could be even a huge entity of

itself, working across all kinds of

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different spectrums: accounting, legal,

procurement, wherever those sections are

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that will allow you to be able to run

your business into that new frontier.

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Even when you have all those aspects

considered, the universal thing

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that you have to think about is all

these different ideologies that we

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all have that we need to embrace.

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Change can be difficult.

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What was a very small business, now

turning into something that you did

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not see before, can be very depressing.

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It might not have been what you exactly

wanted, and yet, trying to be able to

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engage and create that value for everybody

else, means that you have to examine a

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little bit more of what's involved with

not only understanding what's important

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for those people that are working

with you to be aligned with, but also

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understanding that the strategies that

they are employing, also have to align

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with what you expect, so having the right

expectation model will allow you to be

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able to grow into those new heights, and

that is something that is really important

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and most people don't understand.

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They feel that they take the advice

of somebody that is helping you, but

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yet, you're thinking that maybe this

isn't exactly the way to go, and

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before it's too late, you could say

something, but you don't, therefore,

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you're walking yourself into a disaster,

and trust me, have I only seen so many

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disasters when I've been working not

only for government, but also have seen

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personally with many of my friends and

family that have engaged themselves

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into this communication plateau.

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They are not working on not only

understanding what they're getting

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themselves into, but also asking the right

questions, and you have to ask the right

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questions if you're ever going to be able

to achieve success, so, first strategy,

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work on somebody or a group of people that

will help you get to where you need to be.

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The other thing that you have to think

about when it comes to even understanding

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how to run your business is to know

what you're doing now and whether

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you're really good at it or not, in

other words, is your branding on par,

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and it's so sad sometimes that I see

businesses open, they have no image or

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no soul for that matter, and it's only

a matter of time in which they close up.

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Some of the most successful businesses

that have even been challenged by the

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COVID 19 pandemic and been able to make it

to the other side have not only understood

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what their brand destination is, but

they also been able to create that value

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within their clients, within the customers

that they serve all kinds of different

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segments of the population, in order

for them to have that consistency; to

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have brand loyalty, which is usually the

ultimate goal of being able to do anything

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that you want to set out to achieve.

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Having that goal, having that opportunity

in mind, allows us to grow into a variety

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of different areas and even one of my

clients right now is exploring that

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opportunity of a lifetime, being able to

share not only the things that they're

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doing really good with right now, but

experimenting in some other areas that

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will allow them to expand beyond what

they ultimately never thought possible,

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but when you think about this universal

concept of understanding what things

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are, going back to our last conversation

piece, it's about understanding how

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you can use that to your advantage.

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If you don't have the right idea

or the right people behind you

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and they're misrepresenting the

brand that you're creating, then

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how is this all going to work?

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How are you ever going to be able to

achieve the best version of yourself,

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especially in the business world?

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Understand not only your competition,

which we talked about literally in

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episode 107, but we're talking about

now what's really more important than

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anything else: what you want to represent.

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Oh yes.

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If those two strategies don't resonate

with you, let's talk about the very last

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one, the most important of them all.

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If I were to put this on a

pedestal, being that it's number

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one, I would do so, and get ready.

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You ready for it?

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This is what it's all about.

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What I've been waiting to share

with you this whole entire episode.

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It is, if you're ever going to work

on your business and your climate,

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having the right relationship.

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That's right.

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Your relationships with everyone else

are really what ultimately drive you

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to success in any type of climate.

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I often think of times in my life,

personally, where I have let so many

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people down to the point that they walked

away from me, and even now, I know that

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there are things that I do wrong because

I'm not perfect, and I don't ever claim

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to be perfect, nor if the day that I do

become perfect, even in episode 502, I

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hope that I am corrected because I am

not that perfect person, and I hope that

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episode 109 will be shown to me again

because maybe I will long forget that

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I recorded this, but that's what I want

you to remember: to not be forgotten,

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because when you are forgotten, with

that relationship that you have with

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somebody else, it will never work.

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Whatever idea that you have as great

in mind will never be able to succeed.

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In other words, If you do not take care

of your people, if you do not take care

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of the relationships that you have with

your bookkeeper, your social media person,

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regardless of who it is, your partner

in crime, when doing your business for

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that matter, even your own loving wife

or husband, this will never work for you.

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You will never have a successful

business, because, if you think

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about it, your business depends on

everybody else's business helping you.

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You have to identify what is the most

important thing that you can provide

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to so many people across this planet,

whether it's in a small geographical

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area, or in a big wide expanse, because

all the way back in episode number three,

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which if you thought I would forget; I

did not, we talked about what it meant

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to create the best relationships for

your well being, and in that episode,

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not only did we discuss the importance

of why those relationships are really

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helpful, especially when we're building

our business or building ourselves, but

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it's not just about giving and taking.

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It's about the foundation that we

create with our ability to not only

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create comfort, but to be able to

interact, because the famous Aristotle

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would even say, and I've even quoted

on this very podcast, his importance

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about us being political animals;

political being social in his time.

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Friends, if you haven't thought about it

yet, there's really a lot of connections.

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There are a lot of things that we're able

to do, and whether we are working with

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someone individually or a big company to

help build our businesses, whether we have

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the right branding, it all doesn't give a

crap, or even hold a candle, to the fact

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that if we don't have the right people

that we're having a relationship with

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that is positive in nature, forget it.

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You might as well walk away.

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Get your money back.

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Take your losses.

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Whatever you have now,

don't dig any deeper.

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If you look at some of the most successful

companies, whether they're Apple or even

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Toyota, they thought about the long game,

and even then, Apple in itself might not

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have been always the most revolutionary

company, they stayed stagnant for

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many years before that, before they

realized that maybe they needed to be

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a little bit more of a risky adventure.

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Who would have ever thought that we

would be walking around with iPhones,

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even smartphones for that matter, that

allow them to be our personal assistants.

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Who would have ever thought that

even some of the things that we take

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advantage of today, were thought about

in the:

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most famous shows that talked about

space exploration, the opportunity

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to see new frontiers, regardless of

what it is, all of those built on

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one vast, big concept: relationships.

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Today, I want you to revisit some of

those relationships that you've had.

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Did they really end on a good note, and

if they didn't end on a good note, why?

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Can you fix it?

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Is there something that you can do to

change the status quo of what's ahead?

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Can you really help yourself to be able

to stay consistent, to be on that same

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plateau, or maybe get off that plateau

once and for all and be able to shoot

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for the space, to shoot into space for

that matter, of all the things that you

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have available, because let's face it.

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As much as I want you to be successful

in the things that you're doing, not

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only from an accounting, a procurement,

from a legal, from all the other

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social media perspectives, those are

all great things, but you need to have

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the best relationships with people

if you're ever going to be able to

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get not just the short term gains,

but the long term gains as well.

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Let's ask the question: are you really

trying you're very hardest to build

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those relationships, and I don't

necessarily mean always going to the

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networking events at your local chamber.

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I'm not even talking about the vendor

events in which you set up a table,

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interact with your local community.

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I'm talking about meaningful, one on one

conversations where you might not even get

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paid a dime, but you're there to listen,

because those are the people that will

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remember you, and they're going to help

you run your business regardless of any

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type of climate that you're existing in.

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You have to strategize to be

able to even do that, so set

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up your communication plan.

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Think about what you'll

do in the next 30 days.

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Will you be able to talk

to 10 people; maybe even 5?

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Hey, if you're even afraid of doing 5

or 10, can you talk to just one person?

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One person that will help you to see

that overall difference in your life.

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Instead of just worrying about the

next dollar that you're making, maybe

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you should start worrying about the

next friendship, the next relationship

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in your business, that will help

you to create that best value.

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Let's face it.

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The voice that we have in this ever

changing world will continue to change,

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but the one thing that doesn't have

to change are the people that we

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associate with, unless they're really

bad for us, which, that's a whole

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other discussion for another episode.

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It's about understanding

who we can connect with.

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If you can connect with someone today

that can help you move yourself forward,

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regardless of whether that is for a

business, whether that is for your

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personal development, whether it's

even for your professional development.

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Maybe you can help yourself create that

opportunity of a lifetime, instead of just

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worrying about what is going to happen

the next 30 days, 60 days, or 90 days,

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maybe you can worry about what's going

to happen in the next 10, 20, 30 years,

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or if you don't have that much time left

on this earth, which I think you will

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anyway, I think that you've got a lot of

inspiration to offer, even if it's the

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next one to five years, so start thinking

about what your long term plan is.

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Let's think about what your relationships

are, because your relationships are

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worth so much more in gold, or any

sort of monetary value for that matter,

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and maybe, if you think about it,

those relationships, they'll be there

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regardless of how much you have to pay.

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Maybe you don't have to pay one cent

for the people that will want to

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help you, and that can be the most

rewarding thing in any type of climate.

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Thanks for listening to episode

number 109 of Speaking from the

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Heart, and I look forward to

hearing from your heart, very soon.

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Outro: Thanks for listening.

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For more information about our podcast

and future shows, search for Speaking From

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The Heart to subscribe and be notified

wherever you listen to your podcasts.

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Visit us at www.yourspeakingvoice.biz

for more information about potential

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services that can help you create

the best version of yourself.

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See you next time.

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