Transcript
Dr. Gina Anderson (0:00)
This episode is brought to you by Chase for Business.
Josh Christensen (0:04)
Hi, I'm Josh Christensen, executive producer of Inc. Podcasts. And today we have another edition of Expert Exchange presented by Principal. Today you'll hear Another conversation between Dr. Gina Anderson, the CEO and co founder of Luma Brighter Learning, and Marissa Murgatroyd, the founder of Live youe Message. Today they talk about learning how to separate yourself from your business, evolve your strategy and give your company what it really needs to thrive. Okay, here's that conversation. Enjoy.
Dr. Gina Anderson (0:33)
Every single person has a million dollar skill set within them, but they need to A, discover what that is and B, learn the other million dollar skill set, which is how to grow a phenomenal business.
Marissa Murgatroyd (0:48)
I know that you've worked with a lot of entrepreneurs over many decades, so can you tell me what you've seen as like maybe the biggest hurdles or challenges or failures that you've seen entrepreneurs make and then maybe some recommendations you could give for overcoming those hurdles and challenges?
Dr. Gina Anderson (1:04)
Yeah, I mean I think a lot of it comes from finding that message market match right away and finding the fit. I think some people either go too broad and they're not able to micro niche far enough where they can own a particular market. And then the other people that I see have something that works and they assume that it's always going to work, so they're not evolving that message market match in that niche over time as things change. So I think when you get too attached to the way you do things right, that's a problem. And also when you don't get specific enough and I think brought to you.
Josh Christensen (1:40)
By principle, you're the expert in what you do. Let our expertise round out yours. Retirement benefits, investments.
Dr. Gina Anderson (1:50)
That the most of the initial iterations of a company are obvious.
Marissa Murgatroyd (1:55)
Yeah.
Dr. Gina Anderson (1:55)
And it's when you go beyond the obvious that you can find these little micro pivots. You know, the same product with a slightly different market could be 10x the level of profit. So I call those looking for the 15 degree pivots because I think sometimes when entrepreneurs, there's something that's not working in the business, they're like, oh, it's all just messed up, right? Get rid of it all. I need a new business versus saying well, if we just pivot 15 degrees over here, we take this solution into this market. Winner, winner, chicken dinner. You know, all of a sudden that same thing could be so much more valued. And I think that's another big mistake. People is that they love what they do, but they don't love business in marketing. So you have to learn how to love business in marketing as much as you love your topic. And you have to be willing to get good and do the foundational things that are what the business needs. So the other thing about that is I think people can start to conflate their own identity with their business, especially when it comes from you as the founder. You are not your business. Your business is an expression of who you are. It passes through you. But you need to give your business what it needs to survive. Like you need air and water and sleep and food. Your business needs money, it needs resources. There's things that your systems that your business needs that you don't necessarily need. So understanding how to give your business what it needs and then also how do you get what you need? That a lot of entrepreneurs, because they self identify with their business, expect the business to give them everything, to give them all of their purpose, to give them all of their adrenaline junkie tendencies, whatever it happens to be. And I think because of that, many entrepreneurs go and make crazy in their business.