RISE25 - February 2022

RISE25 - February 2022

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PROFITABLE CONNECTIONS

February 2022

Did You Know Failure Makes Your Podcast Stronger? How Stories of Failure Empower Some of Our Most Successful Clients

Sometimes esteemed clients with numerous accolades approach us and tell us their honest feelings: They’re afraid of starting a podcast because they don’t know if people want to hear what they have to say.

Incredibly, Alexi didn’t allow this experience to make her bitter toward her employees. Instead, she learned important lessons that made her team and business stronger. Additionally, while her protective instincts toward the company’s weaknesses were sharpened, she also found ways to rely on the tremendous support around her — and picked up the ability to “forgive [herself].” She says, “I think that’s been a tremendously important piece of my journey.” With new protocols in place and greater wisdom gained, this devastating blow that took out years of the company’s growth wasn’t wasted. It raised Alexi’s business savvy, and sharing her story continues to grow her credibility within her podcast and beyond.

In response, we say: That’s not true! And it might surprise you why.

Your success story is very valuable, but so are your failures. In fact, our clients with incredible stories about failure have some of the most successful podcasts. Why? Because those failures empower their careers and podcasts to this day. Time and time again, we hear the message that failure is an essential part of business. That’s because failure is critical to building wisdom and insight as an entrepreneur — and those are timeless qualities your peers and listeners want to learn more about. During John’s interview with one of our clients, Alexi Cashen, she shared a story about how her startup business catapulted in growth and sales in 2015. With nearly $10 million in revenue, her company began hiring very quickly — “almost too quickly.” During this time, she hired a very likable employee who would, over two years, steal more than $1.8 million from her company. Like many small businesses, Alexi’s work culture was tight- knit — but without any new processes to accommodate the growth of the company, it left them unprotected. “I have very personal, meaningful relationships with my employees, some of them even friendships,” Alexi shared. “In many ways, I [had] my guard down, because that’s the type of culture I was intentionally trying to and continue to try to cultivate.” It took a while for her trust to fall out completely; she didn’t discover the missing $1.8 million of embezzlement until 2017.

Many of the other awesome episodes we’ve hosted have contained similar lessons about recovering from failure.

Our interview with Ian Garlic is one such example. With a childhood that plunged from crazy riches (such as living in mansions and riding in limos) to homelessness, Ian has learned valuable lessons from both the highs and the lows. In terms of his business, this experience taught him that when you invest in the right people, they invest in you, too. That’s why we tell new clients the same thing: The best part of starting a podcast is that you don’t have to do it alone. From fellow podcasters (like us!), to the experts you sit down with to interview, everyone has some wisdom to share — and a lot of the time that expertise was born out of failure. So, don’t be afraid to fail. Even if you do hit a pitfall in your business or podcasting journey, it will likely become a valuable story in the future.

–Dr. Jeremy Weisz & John Corcoran

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How to Harness 2021’s B2B Marketing Trends in 2022 YES, IT WAS TRENDY — BUT DID IT WORK?

2. Advertising on Podcasts Apple Podcasts crossed the one million show mark in April 2021, and in 2020, 37% of Americans ages 12 and up listened to at least one podcast each month. These factors made podcast advertising a major trend in 2021, especially for B2B marketers aiming to reach a younger audience. 3. Automating Everything COVID-19 forced us all to reevaluate how we spend our time, and it turns out many of us don’t want to put those minutes toward sending texts and emails! Still, text and email marketing are both vital B2B channels. The trendy way to get the best of both worlds in 2021 was through automation. Within those messages, Odden called out a trend for a “greater focus on storytelling, personalization, and more informal content versus explicit sales offers.” 4. Leveraging AI The importance of artificial intelligence (AI) for B2B marketing became crystal clear recently when a Salesforce study reported that 80% of business buyers expect the companies they reach out to will talk to them “in real time,” regardless of the hour. This statistic highlights how important chatbots and other AI solutions are for customer conversion. 5. Reaching Customers With Content Content marketing through blog posts and newsletters was touted as a vital piece of every B2B brand’s marketing puzzle this year. Statistics gathered by Convince & Convert found 71% of B2B respondents reviewed a blog during their buying journey, 65% of them prioritized credible content from industry influencers more than the previous year, and content marketing cost 41% less than paid search and generated three times more leads per dollar than other channels. All five of these B2B marketing strategies were hot in 2021, and if you had a positive experience with one or more of them, do yourself a favor and keep that strategy in place for 2022. Do the same with any other trends that

What do

you think of

when you hear the word “trend”? Depending on your age, it

could be anything from big hair to avocado toast. The word itself has more definitions than you might think, including these four from Merriam‑Webster:

1. A prevailing tendency or inclination 2. A general movement

3. A current style or preference

4. A line of development

When people say something is “trendy,” they usually mean the third definition. But trends aren’t always fleeting. Sometimes, as you can see from definitions 1, 2, and 4, they’re useful predictors of what’s to come. If something trendy is truly awesome, it sticks around and becomes part of the culture. At one time, people thought cellphones, texting, and computers were just trendy, but decades later, they’re still here because they made our lives better! Trends in marketing are the same way. Sometimes a fresh marketing strategy will pop up, everyone will try it, and it will disappear. But if a marketing trend works, it sticks around and becomes a mainstay. With that in mind, as you plan your B2B marketing strategy for 2022, you shouldn’t throw out your 2021 playbook. The tactics you tried this year might not be on the 2022 trend lists that are starting to pop up on marketing websites, but that doesn’t matter. If the marketing strategy successfully worked for you in any capacity, roll it into your 2022 plan.

Not sure what 2021 B2B marketing trends means? Here are just a few called out by B2B marketing expert Lee Odden.

worked for you, and you’ll have a head start on next year’s playbook.

1. Using Influencers Due to the COVID-19 pandemic, people are spending, on average, 30% more time on smartphone apps this year than they did in 2019. Early statistics lead to the 2021 trend of marketing through influencers on Instagram and TikTok. A TopRank Marketing survey found most B2B marketers believe this strategy changes minds, improves the brand experience, and yields better campaign results.

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How to Save Hundreds of Hours a Month Using Top ProductivityTools WithAdi Klevit of Business Success Consulting Group This Month’s Featured ‘Inspired Insider’ Podcasts

Most Valuable Advice When Selling Your Agency With Todd Taskey of Potomac Business Capital Todd Taskey is an M&A Advisor at Potomac Business Capital. He has more than 20 years of experience as an entrepreneur, business owner, investment banker, and business finance advisor. In addition to this, Todd has been a founding investor, board member, or part of the management team of several business ventures. He helps CEOs and entrepreneurs develop successful exit

Adi Klevit is the founder and CEO of Business Success Consulting Group, an organization that

provides businesses with the infrastructure, processes, and systems they need to thrive. Adi and her team help companies

scale up, transfer knowledge, and prepare for succession. She has over 25 years of experience as a trained industrial engineer, management consultant, and business executive. Additionally, Adi is the host of the “Systems Simplified” podcast. Tune in to this episode of “Inspired Insider” as Dr. Jeremy Weisz chats with Adi Klevit about productivity tools that can help you save hundreds of hours a month and take your business to the next level. Adi shares the top tools for email management, note- taking strategies, process documentation, internal communications, and more.

strategies by understanding the mid-market investment banking process. Listen to this episode of the “Inspired Insider” podcast with Dr. Jeremy Weisz featuring M&A Advisor Todd Taskey. They discuss the most

valuable thing an agency should know when selling their company, how to determine what your business can sell for, and why some acquisition deals fall through. Stay tuned.

Special Shoutouts:

Special Shoutouts:

A notable person on Todd’s journey is Chris Voss.

A notable person on Adi’s journey is Owen McGab Enaohwo. Scan the QR code or visit the link to listen to the full episode.

Scan the QR code or visit the link to listen to the full episode.

www.InspiredInsider.com/ todd-taskey-interview

www.InspiredInsider.com/ adi-klevit-interview

This Month’s Featured ‘Smart Business Revolution’ Podcasts

Scott Empringham | Scaling an Agency to Over $10M, Losing It All, and Rebounding in 14 Months

David Anderson | From Fraternity President to the White House to Worldwide Advocate for Entrepreneurs David Anderson is the founder of Off Madison Ave, a company that uses behavior design to transform how people engage with brands. He is a seasoned entrepreneur, author, and current chair of the global board of directors for Entrepreneurs’ Organization (EO). David is also the Founder of LighthousePE, a mobile

Scott Empringham is the owner and CEO of Empringham Media Group. For more than 21 years, his passion has been helping Fortune 50 companies break through the clutter by using digital marketing and social media in areas that matter most: customer retention and

marketing platform-as-a-service that connects consumers’ digital and physical worlds through hyper-targeted content. In this episode of the “Smart Business Revolution” podcast, John Corcoran is joined by David Anderson to discuss his

acquisition. Scott’s mission is to empower companies to drive new business, retain current customers, and conquer the competition. Scott is also a member of Entrepreneurs’ Organization (EO) Orange County. In this episode of the “Smart Business Revolution” podcast, John Corcoran interviews Scott Empringham about how he scaled his digital agency to over $10 million, the moment he lost it all, and his journey to recovery. Scott also explains how his EO forum members, family, and friends helped him rebound and shares the lessons he learned from the experience. Stay tuned.

experience working as an advance representative for a U.S. president before going into entrepreneurship. David talks about removing himself from his company’s daily operations and shares his advice on being a charismatic leader and finding the right business partner. Stay tuned.

Special Shoutouts:

Special Shoutouts: A few notable people on Scott’s journey include David Meltzer and Keith Fiscus. Scan the QR code or visit the link to listen to the full episode. www.SmartBusinessRevolution.com/ scott-empringham

A few notable people on David’s journey include Roger Hurni, Gary Bushkin, and Former Chief of Staff Andrew Card.

Scan the QR code or visit the link to listen to the full episode. www.SmartBusinessRevolution.com/ david-anderson

Rise25 Podcast Spotlight

If you were an immigrant who just arrived to New York City in the 1880s and had at least 10 cents, you could rent a pushcart and become a business owner. For more than 50 years, pushcart markets in New York City offered immigrants immediate access to an $828 million industry (in today’s money) that sold competitively priced goods like groceries, household items, and clothing. However, those who were wealthy and in anti-pushcart movements complained primarily about poor sanitation in these markets. So, in 1938, Mayor La Guardia proclaimed in The New York Times that “peddling on the streets of this city is a thing of the past.” To ease opposition, La Guardia opened indoor markets, which required pushcart sellers to apply for limited A Big NYC Attraction Becomes Illegal

Cornerstone Unplugged JP Cavaliere Featuring: Founders, CEOs, and executives across the country The Leading Edge Thomas A. Stewart Featuring: Next-level enterprise leaders

Legends Behind the Craft Drew Hendricks Featuring: Top leaders in the wine and craft beverage industry Amazing Exits Kellianne Fedio/Paul Miller Featuring: Successful Amazon entrepreneurs Top Business Leaders Show - SpotOn Series Rise25/SpotOn Featuring: Founders, leaders, and innovators in the restaurant industry

Digital Madvertising Chris Clark

Featuring: Brand managers and C-suite executives in the digital marketing and technology space

spots and pay higher fees. Thousands of pushcart sellers lost their jobs afterward, and some brick- and-mortar stores lost as much as 60% of their business with the decrease in nearby foot traffic.

Go subscribe on iTunes!

To this day, pushcart selling is still illegal.

3 STEPS TO IDENTIFY YOUR VALUE Feel Confident in Business!

We've all been taught that bragging is annoying, but when you’re afraid to identify your worth, it can really hurt your confidence and success in business. To prevent that from happening, here are three tips to make it easy to name your price! No. 1: Get to know your value. How do we figure out our value? Specifically, how do we come up with a quantifiable method to reach an exact, irrefutable number? Well, we don’t. The best place to start is deciding who you want to be in your business and industry and building from there. With a solid mission statement and concrete affirmations that support your value in the business, you’ll gain more confidence in arriving at a price point. No. 2: Be open to receiving — and giving — love. Accepting compliments can be tough, but in business, compliments can be powerful catapults to your continued success. When you take time to notice all the people you’ve helped, the accomplishments you’ve achieved, and the difference you’ve made, the motivation it fosters is monumental. Keep your happy emails, texts, and reviews from clients and create an easy reference for instant, uplifting support. If a client seems happy, never be afraid to ask for a testimonial. Many people simply need to be asked, and they’ll be happy to provide one.

In the same stride, consider the people who help you and your business every day and find ways to show appreciation. Passing that love around can make a huge difference in energizing the way you perceive your value. No. 3: Make the final game plan. After considering what your offerings are likely worth, whom you’re looking to serve, and what they’d be willing to pay, you can name your final price. After all, prices don’t fall from the sky. Without obsessing over it, look at what kind of value your competitors have set for themselves. That’ll give you a great starting point. Take good care of yourself, friends — and don’t forget that a confident price tag is a great way to do just that in your business.

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Inside This Edition

1. 2.

How Stories of Failure Make Podcasts Stronger

Make 2021’s B2B Marketing Trends Work in 2022

3.

Why This NYC Attraction Became Illegal

3 Steps to Identify Your Business Value

4.

How Mary Barra Helped GM

From ‘Car Girl’ to CEO of GM Meet Mary Barra

According to an interview with Stanford Magazine, Mary Barra is a self-proclaimed red convertible "car girl.” Her eyes gleamed as she talked about the day she first saw her cousin’s Chevy Camaro convertible, a late ‘60s vintage model. At that moment Barra knew she’d love cars forever, so she worked on cars as soon as she could. In fact, she was only 18 years old when she started working for General Motors (GM). She worked her way up while earning a couple of college degrees, and she held multiple engineering and administrative positions at GM, including managing the massive Detroit/Hamtramck assembly plant. By 2014, Barra became the CEO of GM and was the first female head of a “Big Three” automaker in the United States. It was a dream come true — her appointment even earned her a spot on Time’s 100 Most Influential People in the World of 2014. However, during her first

year as CEO, GM faced one of the worst scandals in the U.S. auto industry: the GM ignition switch scandal. Faulty switches resulted in 124 deaths and 275 injuries, which prompted the Senate to conduct an investigation. Barra’s court appearances led to a public outcry against GM, forcing the company to recall nearly 30 million cars due to their defective ignition switches. Although no federal charges were pressed against Barra or the GM executives, the company paid $120 million in settlement claims and offered $595 million to victims and families affected by the scandal.

to the defective ignition switches. Additionally, she initiated GM’s shift toward electric-powered cars, including the Chevrolet Bolt EV, which became the first electric car with a range of 200 miles priced under $40,000, a milestone that warranted significant coverage. According to GM executives, a major reason for Barra’s corporate and entrepreneurial success is not only her passion for cars, but also her skill to listen and communicate well with others. Her “consensus approach” involves conducting town hall meetings to seek input from the majority of people, not just top management.

Barra’s subsequent actions became key. She fired 15 employees, including eight executives, for failing to respond quickly

This allows every employee to be heard, and that

inclusive environment remains a crucial part of GM’s ability to thrive far beyond its darkest days.

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