The Good Advice Podcast: Do Business Better with Blake Binns

We sit down with Carey Lingenfelter, Chief Engagement Officer and managing partner of HomeInstead Senior Care here in NWA. Carey is a highly visible and involved professional in the NWA area, which has led him to being tremendously sought after for his value system that combines high performance, personal accountability, and authenticity. As a serial entrepreneur and experienced leader, he continues to make a significant impact in both the for profit and non profit world. 

With rumors swirling that Itunes is on its death knell as Apple decides to move on, Blake explains how even the largest companies make mistakes, and how we shouldn't be discouraged by our own mistakes along the way. By passing the "Mom test", developing a high margin business, and keeping customers first, Blake explains how every entrepreneur can guarantee a level of success in their own journeys. Get on our Weekly Newsletter or subscribe at GoodAdviceCoaching.com.

Blake talks about a story in the news this week about an Instagram Influencer with over 2.6 million followers and her new clothing line. Should this guarantee traction for her business? You'd be surprised. We break down the problem with using Social Media for sales and how a multitude of business owners are missing the mark. 

Episodes referenced: #15 - Creating 1000 Raving Screaming Fans

Blake talks through the core of your business and how every successful entrepreneur is laser focused on their offer. If you want to start a business that works, you'll need absolute clarity on what's the "what" before you spend any energy on the "how". 

Getting this backwards is why 42% of businesses fail -- they offer something no one wants. Worse, if you chase the "how" before figuring out the "what", you'll break the bank trying to force it to work. 

This episode references Episode #1 - What's Crucial for Starting a Business.

Quick podcast update from GERMANY – learning a little about the work culture here and especially about the founder of BOSCH, Herbert Bosch. We talk briefly about the question of pay stemmed from Bosch’s quote: “I’m rich not because I pay my workers so little. I’m rich because I pay my workers so much.”

Joshua Ayres is an expert in the entrepreneur and startup space, building off his lengthy career in the supply chain industry up into his transition as CEO of his own startup, Cart Delivered. He is currently the CEO of Symbient Product Solutions and continues to be a credible voice in the startup space on various topics including innovation, the importance of agility, effective culture, and product strategy. This episode was recorded in Puritan Coffee House, a local NWA hotspot.

Connect with Joshua: joshua.ayres@symbientps.com

Relevant Timestamps:

5:05 – The Problem with Big Businesses and Why They’re Slow

20:35 – Culture & Why Chick-Fil-A is So Good

33:05 – Rewards and The Challenges of Accountability

42:32 – How Leaders Can Avoid Being Slow & Disconnected

48:52 – The Relationship Between Simplicity & Success

52:06 – Startup Dysfunctions and Knowing When to Pivot

1:09:06 – Why Timing Can Matter More Than Strategy

1:24:30 – Why “Follow Your Dreams” is Bad Advice

1:42:24 – Lessons Learned from “Cart Delivered”

Blake explains the need to evaluate, and re-evaluate, your business model, even if you’ve experienced success in the past. How your business operates – which compares how you make money vs. the money you spent to make it – will determine the space you have to create, innovate, and indulge in new opportunities your business may need to stay competitive.

Dmitri Love, CEO of Bundil, talks through some of his life’s biggest moments, from a crushing athletic injury that got him into coding to the launch of his tech company – Bundil – and its impact on the cryptocurrency space. Bundil’s userbase catapulted after Dmitri was invited onto Shark Tank, where he was eventually offered a $100,000 deal from Kevin O’Leary. Currently, Dmitri resides in Dallas is a meaningful voice in the startup, tech, and entrepreneurial world. Connect with Dmitri on Instagram: @DmitriLoveBrah Follow Bundil: @BundilApp

Relevant Timestamps:

06:24 - Cryptocurrency, Competition, and Bundil

22:07 - Shark Tank and “The Offer”

33:04 - Why Entrepreneurship Looks So Good

39:05 - The Power of Self-Building and Surrounding Yourself with Positive People

45:38 - When You Grow Too Fast and the Launch of Bundil 2.0

51:09 - Rethinking MVP and Beating Out Competition

In this episode, Blake explains the power of Identity and how to overcome the circumstances you face.

In this episode, Stephanie tackles her approach to leadership in business and the non-profit world. Starting nearly a decade ago as the only local RMHC employee, she has built a $1M+ organization with a staff of nearly 30. She is a trusted member of the NWA community and is in expert in management, culture, and impact. Connect with Stephanie: stephanie@rmhcarkhoma.org

Relevant Timestamps:

10:45 - Starting a Non-Profit or Business

16:45 - The Fear Cure

24:18 - Why Non-Profits Struggle with a Business Mentality

43:05 - Hire Slow, Fire Fast and Why Culture is the Secret Sauce for Successful Businesses

49:15 - (Continued) Letting People Go With Dignity, and Why You Have to Invest in Front Line People

59:48 - Why Ronald McDonald House Revamped Around Recognition

1:25:41 - Imposter Syndrome and How to Own Your Power