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Just The Tips, with James P. Friel and Dean Holland - Turning Things Around, With Greg Spillane, Ep 163

Turning Things Around, With Greg Spillane, Ep 163

08/27/20 • 57 min

Just The Tips, with James P. Friel and Dean Holland

A lot of businesses had to close their doors in the year 2020, and for some, those doors will never re-open. Even outside of this year’s events, plenty of companies close up shop because things go south, and they have no idea how to fix it.

Sometimes throwing in the towel is the answer, but most of the time, a solution is out there, if only the business owner was aware of it. Most of the time, your problem isn’t a lack of resources, it’s a lack of resourcefulness (even in times like these).

To help you see for yourself that closing up shop isn’t your only option, James and Dean welcome Greg Spillane, aka The Turnaround Guy.

As his nickname suggests, Greg specializes in helping companies on the brink turn things around.

Greg will show you exactly where to start if your business is on the rocks, how to identify and use the resources you DO have, and ways you can think outside the box and keep the doors open.

Even if your company’s thriving right now, make sure you tune in for what Greg has to say. You may need these strategies at some point in your business journey. Plus, several of them apply even if your company’s not on the rocks. Apply them and watch your profits get even higher.

Outline of This Episode
  • Where to start turning things around [5:15]
  • Why you need to be a survivor (and what that means) [11:00]
  • Lack of company culture = death of your company [19:00]
  • The characteristics to look for in people you hire [27:00]
  • How and where to get capital [31:00]
3 major points discussed
  • Identify your assets. If you were stranded on a desert island, the first thing to do is focus on what you DO have. What’s available to you? What do you have to work with? Turning your business around works the same way. Look at the assets you do have, like a raving fanbase, your product, your employees--anything you can use. A lot of people want to focus on what they can create, and that’s important, but what you already have is equally important.
  • Create and clarify your company culture. Company culture may sound like foo-foo, but if so, it’s because you’ve got the wrong idea about it. True company culture gets everybody aligned with the company vision, mission, and values. When your team isn’t aligned in those areas, when they don’t believe in the same things, and aren’t working toward the same goals, it leads to drama, dysfunction, backstabbing, and poor productivity. Having a team who’s only there for the paycheck, and doesn’t care about your mission, makes it VERY difficult to be successful.
  • Investment opportunities are everywhere. The right investor(s) can help plug the leaks in your sinking ship. And investing in other businesses can create additional revenue and take some pressure off. If either of those options leave you feeling squeamish, don’t rule it out without listening to Greg’s take on this. There’s a lot of opportunities to acquire capital now that there didn’t used to be. Greg will share several of his favorites, including what he’s used to help his clients turn their companies around.
Resources & People Mentioned
  • Fancy.com
  • Twitter: @greg_spillane
  • LinkedIn: https://www.linkedin.com/in/spillane/

Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

Dean Holland:

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

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A lot of businesses had to close their doors in the year 2020, and for some, those doors will never re-open. Even outside of this year’s events, plenty of companies close up shop because things go south, and they have no idea how to fix it.

Sometimes throwing in the towel is the answer, but most of the time, a solution is out there, if only the business owner was aware of it. Most of the time, your problem isn’t a lack of resources, it’s a lack of resourcefulness (even in times like these).

To help you see for yourself that closing up shop isn’t your only option, James and Dean welcome Greg Spillane, aka The Turnaround Guy.

As his nickname suggests, Greg specializes in helping companies on the brink turn things around.

Greg will show you exactly where to start if your business is on the rocks, how to identify and use the resources you DO have, and ways you can think outside the box and keep the doors open.

Even if your company’s thriving right now, make sure you tune in for what Greg has to say. You may need these strategies at some point in your business journey. Plus, several of them apply even if your company’s not on the rocks. Apply them and watch your profits get even higher.

Outline of This Episode
  • Where to start turning things around [5:15]
  • Why you need to be a survivor (and what that means) [11:00]
  • Lack of company culture = death of your company [19:00]
  • The characteristics to look for in people you hire [27:00]
  • How and where to get capital [31:00]
3 major points discussed
  • Identify your assets. If you were stranded on a desert island, the first thing to do is focus on what you DO have. What’s available to you? What do you have to work with? Turning your business around works the same way. Look at the assets you do have, like a raving fanbase, your product, your employees--anything you can use. A lot of people want to focus on what they can create, and that’s important, but what you already have is equally important.
  • Create and clarify your company culture. Company culture may sound like foo-foo, but if so, it’s because you’ve got the wrong idea about it. True company culture gets everybody aligned with the company vision, mission, and values. When your team isn’t aligned in those areas, when they don’t believe in the same things, and aren’t working toward the same goals, it leads to drama, dysfunction, backstabbing, and poor productivity. Having a team who’s only there for the paycheck, and doesn’t care about your mission, makes it VERY difficult to be successful.
  • Investment opportunities are everywhere. The right investor(s) can help plug the leaks in your sinking ship. And investing in other businesses can create additional revenue and take some pressure off. If either of those options leave you feeling squeamish, don’t rule it out without listening to Greg’s take on this. There’s a lot of opportunities to acquire capital now that there didn’t used to be. Greg will share several of his favorites, including what he’s used to help his clients turn their companies around.
Resources & People Mentioned
  • Fancy.com
  • Twitter: @greg_spillane
  • LinkedIn: https://www.linkedin.com/in/spillane/

Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

Dean Holland:

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

Previous Episode

undefined - Identifying Profitable Business Ideas, With Dr. Adam J. Bock, Ep 162

Identifying Profitable Business Ideas, With Dr. Adam J. Bock, Ep 162

When it comes to new ideas, entrepreneurs are like machine guns. We can spit them out as rapidly as a machine gun sprays bullets.

But when we get so excited about an idea that we don’t properly put it through its paces, we end up wasting exorbitant amounts of time and money trying to fulfill an idea that’s never going to happen.

Then we blame our customers for not seeing the value, leap to the next “sure thing,” and repeat the process again.

This exact cycle is one of the top reasons 90% of startups fail, and why even established businesses can waste hundreds of thousands of dollars on “sure thing” business ideas.

Instead of letting idea excitement run the show, tune into this episode of Just The Tips with guest Dr. Adam J. Bock to learn what to do (and what NOT to do) once you’ve got a new business or product idea.

Adam is a serial entrepreneur and academic researcher who’s mastered the ability to structure sustainable business models that give you a competitive advantage.

Adam’s not only started multiple companies, he’s also sold multiple companies, in the venture capital space, for eight figures. When it comes to profitable, sustainable business models, he knows what he’s doing!

Adam will reveal the most costly mistakes entrepreneurs the world over make with their business ideas; plus show you how to identify when you actually DO have a winner.

Outline of This Episode
  • What is a business model, REALLY? [10:20]
  • Cool ideas are the start, not the finish [16:50]
  • Avoid this expensive problem-solution blunder [23:00]
  • Choosing who to ask (and who not to ask) about your idea [39:30]
  • Don’t confuse valuable with profitable [48:02]
3 major points discussed
  • When lighting strikes, give it space. Yes, entrepreneurs have to take risks in order to get anywhere. But there’s a big difference between taking a risk and allowing idea excitement to blind you. When your latest big idea strikes, document it, but give yourself space to get beyond that initial burst of excitement. That way you can evaluate your idea with a level head (and potentially save yourself years of wasted time and money).
  • It’s not your customers’ fault. When you test the waters with your product and don’t get the response you’re hoping for, it’s all too easy to decide you don’t have the right customers. Or that they’re clueless for not seeing the value in what you offer. Educating people who don’t yet understand the value in your idea is possible, but it works a LOT less frequently than most people think. If your solution isn’t a solution in their minds, no amount of educating them will change that.
  • Keep it lean when you test the waters. Instead of cannonballing into the water with your new idea, dip your toe in, especially when you’re gauging customer interest. Just because someone says they want it, doesn’t always make it so. It depends on who you’re asking, and whether you’re actually solving their problem, or just solving a problem you think they have. Keeping this phase lean is critical to stopping new idea excitement from running away with your time and money.
Resources & People Mentioned
  • https://www.bizmodelbook.com/
  • The Business Model Book: Design, Build and Adapt Business Ideas That Drive Business Growth, by Adam J. Bock and Gerard George (available on Amazon)

Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

Connect With James and Dean

James P. Friel:

Dean Holland:

JTT Facebook Page - https://www.facebook.com/justthetipsshow/

Next Episode

undefined - Find Your Flow, with Mike Liep, Ep 164

Find Your Flow, with Mike Liep, Ep 164

Productivity and accomplishment--the double edged swords of entrepreneurship. Setting and hitting goals are an absolute must to build and grow a successful business. So is being productive.

Yet it’s SO easy to become so focused on goals and being productive, you end up anxious and miserable, because you’re always thinking about “What’s next.” It doesn’t leave room for the happiness and freedom you expected when you started your business. You end up feeling more like a robot than like a person.

But what if there was a way to make more and faster progress on your goals, AND feel satisfied as you go?

That’s what this week’s episode guest, Mike Liep, is going to reveal.

Mike fought his way back from Lyme disease, a traumatic brain injury, cancer, and panic and depression, and in the process, mastered the development of systems to help you get more done in less time, and actually feel GREAT doing it. Mike even developed the popular Panda Planner, a planner scientifically designed to help you become happier and more productive.

So whether you’re accomplishing a lot but NEVER feel satisfied, or whether you’re just looking to become more productive, and improve your day to day, check out this episode for the secrets to finding your flow.

Outline of This Episode
  • From brain injury to breakthrough [4:10]
  • The dark side of goals [7:30]
  • The battle for your attention [18:00]
  • End goals vs. process goals [22:15]
  • Non-negotiable habits for business owners [28:00]
3 major points discussed
  • I’ll be happy “when.” Ever catch yourself thinking you’ll be happy and satisfied when you hit that next big goal, except when you get there, you aren’t? Instead, you kick the happiness can down the road in favor of achieving that next big goal. Hitting our goals rarely lives up to our expectations in terms of how good we feel getting there. Listen to this episode for the secret to being happy and fulfilled NOW, while still propelling yourself toward goal achievement.
  • Develop your focus. There’s SO much competing for your attention these days. Ads are everywhere. Plus we’ve got email, apps, notifications, and the people in your life. Let’s face it--the Internet trains you to be incredibly lazy while feeling incredibly busy. You sit on your ass, move one finger, and presto, your mind’s consumed. If you’re an entrepreneur, you’ve got the added dynamic of a zillion trainings, products, and services all competing for your belief that they’re the next business success silver bullet. Mike’s going to help you cut through all that noise, so you get traction instead of distraction.
  • Two tips for business owners. One reason we struggle with distractions is because an idea or to-do pops into our head, and we believe that if we don’t handle it right then, we’ll forget. Tune in to hear Mike’s tips for managing those moments without sacrificing your focus. Plus he’s got super simple productivity tips, and even a super simple morning routine framework you can quickly and easily implement to start the day off right.
Resources & People Mentioned

Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License

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