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Research shows that although four out of five entrepreneurs believe they have a good — if not certain — chance of success, 74 percent of new start-up businesses fail, most often due to overconfidence and loss aversion.
Further, decision-makers tend to escalate their commitment even when knowing they’re in a failing course of action. This speaks to the inherent optimism and confidence of most entrepreneurs.
These same characteristics — overconfidence and fear of loss — also tend to foster an irrational escalation of commitment (EoC) when an entrepreneurial enterprise begins to fail.
Several theories regarding EoC behaviors offer insights into why entrepreneurs choose to escalate their efforts despite signs showing the project is failing.
Dr. Vincent deFilippo offers a detailed look at why we often get swallowed up in EOC scenarios and how we can avoid them.
Tune in to hear Dr. deFilippo’s thoughts on:
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We get it – entrepreneurs didn’t embark on their journey to be accountants.
As businesses flourish and demands multiply, Kira Wissman steps in with her valuable expertise, lightening the load and providing much-needed support to make the journey smoother and more successful.
Tune in to hear Kira’s thoughts on:
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Let’s explore how affordable e-commerce solutions are shaping the digital marketplace, making it accessible to businesses of all sizes. Discover the pivotal role accessibility plays in the future of online retail.
Tune in to hear Sahil Jitesh’s thoughts on:
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Everyone knows that change is never-ending. Media continues to tell us that change is HARD. It’s a lie. We are constantly adapting. Our role as leaders is to demonstrate how people can take everyday adaptation and apply it to their work to drive higher levels of resilience. A step-by-step approach is required.
It’s too easy to get caught up in action and lose sight of the one aspect that has the greatest influence on the success or failure of leading change: The potential for resistance. Resistance is one side of the coin called emotional energy. Harnessing it effectively enables change leaders to get returns on their projects FAST.
Jeff Skipper has been coaching organizations and leaders on successful transformations for over 25 years. He shares six critical tips every leader needs to know to get fast returns from the constancy of change, including how to:
> Create motivational narrative around a singular goal.
> Predict the most probable point of resistance.
> Communicate for action over objection.
> Convert reluctance to resilience.
> Leverage leader capital and self-interest to align interests.
> Sustain change when the going gets tough.
Tune in to hear Jeff Skipper’s thoughts on:
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What if finding profit to 2x (or 10x) your business was only a few clicks away?
Marketing expert Nicole Schmied shares how your next best business decision is waiting for you in your customer and prospect data.
With a single dashboard, she’s helping clients check on their marketing channels in a blink – what’s working, which campaigns are “leaking” money, and which efforts are secretly bringing in the most profits.
Learn how she’s helping her private clients leverage their data to see what’s ahead long before their competitors. And how just by tweaking 2 – 3 important metrics for your market can create your best year yet.
Best part: Nicole is giving all the insights and even a free sneak peek of her latest workshop in today’s episode.
Tune in to hear Nicole Schmied’s thoughts on:
Invitation From Our Guest:
Free sneak peek of the workshop mentioned in the episode. smartcookiemedia.co/profit-
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As you know, the onset of the pandemic exposed operational vulnerabilities for many.
Suddenly, supply chain disruptions became front-page news.
The time is ripe for exploring topics like operational excellence, business infrastructure, and process improvement.
Tune in to hear Alicia Butler Pierre’s thoughts on:
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There is a lot of competition in ecommerce. But the one thing that can set you apart from others is client experience.
Join us and learn why focusing on the client experience is the best way to keep your funnel packed and your business rocking.
Tune in to hear Samuel Moses’ thoughts on:
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With 2.7+ million podcasts on the air today, hosts around the world are seeking to interview experts like you.
Your mission is to get media ready, media savvy, and on message to serve them, while inspiring their listeners to take their best next steps in your direction to do more business.
Since 2001, Nancy Juetten has worked with leading banks, prestigious chocolate companies, luminaries, and stars on the rise to prepare and share their stories to get known and get paid in the media that matter for their messages.
She’s also guided hundreds of students to welcome the same or even better results for themselves without hiring an expensive booking agency.
Tune in to hear Nancy Juetten’s thoughts on:
If you have more money than time and want a done for you solution to get media ready fast, check this out!
https://getknowngetpaid.com/
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Ocean View Stables understands the courage, sacrifice, and resilience of our nation’s military veterans.
Co-owner, Zachary Leyden, is a war veteran who, after returning from service in Afghanistan, faced his own battles on home soil. As he grappled with the realities of post-traumatic stress disorder (PTSD), he rediscovered a source of healing – horses.
In the company of these noble animals, Zachary found solace, connection, and therapy. The quiet strength of the horses, their unwavering loyalty, and their intuitive response to human emotions helped him navigate his journey to recovery. The transformation was profound and life-affirming. It was a kind of therapy that transcended words – a healing bond formed in the tranquility of the stables and the freedom of the open trail.
Having experienced the therapeutic wonders of horsemanship first-hand, he made a decision. He wanted to extend this opportunity to his brothers and sisters who had also served. And so, the Veterans Ride Free program was born.
At Ocean View Stables, all veterans ride for free. It is their way of giving back to those who have given so much for our country.
Tune in to hear Zachary Leyden’s thoughts on:
Invitation from Guest:
Free Rides for Veterans
www.Oceanviewstables.com
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From coaching his sons’ basketball teams to his career in the Royal Canadian air force, Scott Clancy’s entire career has focused on leading people well.
His upcoming book, Developing Coaching Leaders: The Fundamentals and Techniques that Make Leaders Extraordinary, focuses on getting rid of leadership baggage to truly motivate your team.
From trashing impersonal and cheesy team-building techniques to establishing genuine trust, inspiring innovation through belonging, and highlighting creative individual strengths, Scott’s strategies are perfect for sports coaches and business leaders alike.
Tune in to hear Scott Clancy’s thoughts on:
Invitation from Guest:
Hone your skills with Scott’s free guide to time management and tools on how to thoughtfully prepare.
EVs Are Essential. But Are Visionaries in the Driver’s Seat? With Ken Boyer
Elon Musk may make the most noise, but he’s not the only one shaping the future of EVs. Along with the CEO of American stalwart GM and the leaders of Ceer and Monolith is a restless billionaire who may be the Vietnamese version of Musk. Their breakthroughs and struggles are the focus of a new […]
Evaluating Any Tech Org—No Coding Required | Insights from a Veteran Leader, With Douglas Squirrel
Do your tech advisors – everyone involved in delivering a technical solution, including developers, data scientists, product managers, testers, and the like – grasp the needs of your organization or one you might consider acquiring or investing in? Where is your tech strategy strong? Where does it need improvement? Is your investment in salaries and […]
Mastering Financial Strategy: Cash Flow, Profitability, and Growth, With Ahuva Gruen
In this episode, we’re joined by Ahuva Gruen, a seasoned Fractional CFO and CPA with over 20 years of experience in financial strategy. Ahuva will share her expertise on maximizing profitability through profit analysis, effective cash flow management, and strategic growth planning. She’ll provide actionable advice on how business leaders can optimize their finances, make […]
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