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- [00:00]
A
Jason, would you like to vent?
- [00:02]
B
I don't get angry often, but this pisses me off. ATMs that charge you money to get money. You know where you have to pay a fee to get your own money. I hate that.
- [00:12]
A
Ugh. I hate that too.
- [00:14]
B
I travel a lot. I also live in a neighborhood with a lot of these ATMs. I am constantly getting hit with fees until now because now there's Chime.
- [00:24]
A
Wait, Chime can help you avoid those fees. Tell me more.
- [00:28]
B
When you bank with Chime, you are never far from a free ATM. That's because they have over 47,000 fee free ATMs in Target CVS 7 11s all across the country. That's more than the top three national banks combined. And that's not all Chime does. Chime understands that every dollar counts. So when you set up a direct deposit through Chime, you get access to fee free features like free free overdraft coverage, getting paid up to two days early with direct deposit and more.
- [00:59]
A
Chime is not just smarter banking. It is the most rewarding way to bank. Join the millions who are already banking fee free today. It just takes a few minutes to sign up. Head to chime.comhelp wanted that is chime.comhelpwanted
- [01:16]
C
Chime is a financial technology company, not a bank. Banking services A secured Chime Visa credit card and MyPay line of credit provided by the Bancor Bank NA or Stride Bank NA. MyPay eligibility requirements apply and credit limit ranges $20 to $500. Optional products may have fees or charges. See chime.com feesinfo advertised annual percentage yield with Chime plus status only. Otherwise 1.00% APY applies. No min balance required. Chime card on time payment history may have a positive impact on your credit score. Results may vary. See chime.com for details and applicable terms.
- [01:36]
A
We've had some big wins at my company this year. The kind of wins that mean it's time to expand. Bringing new people onto the team isn't something I take lightly. These people are going to help shape the content that goes out into the world with my brand and my name attached to it. So when I'm hiring I to make sure my job listing lands in front of the best possible people. Not just good, the best. Which means this is a job for indeed Sponsored Jobs spend less time searching and more time actually interviewing candidates who check all your boxes. Less stress, less time, more results when you need the right person to cut through the chaos. This is a job for indeed sponsored jobs and listeners of this show will get a $75 sponsored job cred credit to help get your job the premium status it deserves@ Indeed.com podcast just go to Indeed.com podcast right now and support our show by saying you heard about Indeed on this podcast. Indeed.com podcast terms and conditions apply. This isn't your job. This is a job for Indeed.
- [02:54]
B
Sponsored Jobs I started my business as a sole proprietorship and at the time that made sense. I was just trying to get moving, but looking back I realized if I had known what I know now, I probably would have structured it as an S corp at the start. Instead I had to switch later, which was a pain. And you know that is true of many things. There are small decisions that we would have approached differently if only we had known. But you don't have to learn from your mistakes like I did. You can do it right the first time. Under the guidance of today's sponsor, Northwest Registered Agent has been helping small business owners and entrepreneurs launch and grow businesses for nearly 30 years. They are the largest registered agent and LLC service in the US with over 1500 corporate guides who are real people who know your local laws and can help you and your business every step of the way. Northwest gives you access to thousands of free guides, tools and attorney drafted documents to help you run your business with confidence. No upsells, no selling your data. Northwest makes life easy for business owners. They don't just help you form your business, they give you all the free tools that you need after you form like operating agreements, meeting minutes and thousands of guides that explain all the ins and outs of running a business. Don't pay hundreds or thousands of dollars for what you can get from Northwest for free. Visit northwestregisteredagent.com help wanted free and start using free resources to build something amazing. Get more with Northwest Registered Agent at. Again, here's the website northwestregisteredagent.com helpwanted free. This is Help Wanted, the show that makes your work work for you. I'm Jason Pfeiffer, Editor in Chief of
- [04:56]
A
Entrepreneur Magazine and I'm money expert Nicole Lapin. On Tuesdays, Jason and I answer the helpline and help callers solve their work problems.
- [05:03]
B
And on Thursdays, I give you one way to improve your work and build a career or company you love.
- [05:08]
A
And it starts now.
- [05:11]
B
When things go wrong. Here is a question to ask yourself. Did I just run an accidental experiment? The answer might be yes and once you realize this, you are going to feel a lot better because here's the thing mistakes suck. They make us feel empty, like there's a vacuum where there should have been a victory. But the accidental experiment idea completely reframes the experience. It gives you something to ponder and explore and learn from. I stumbled into this idea recently after something went wrong for me and it helped me immensely. I think it can help you too. So today I will share why it works, starting with my own big mistake. Alright, so about a month or so ago, I hosted a workshop for this newsletter community that I host. And the stakes felt really high because I wanted my members, my members who pay money to be part of this community. I wanted my members to be happy. And my friend Rochelle Devoe, she's a consumer psychology expert. Rachelle was doing me a huge favor by hosting this session with me. So got a lot of people, they're paying a lot of money, they have expectations, and I have a friend coming in and doing me a favor. That's the stakes. The call took place on Zoom, which is where I usually host these community calls. But when we all joined, Zoom told me that the call would be capped at 4:40 minutes. It said that right over the top, the 40 minute call, which was not good because I had scheduled this call for 60 minutes. I don't even know where the 40 minute thing came from. I'd never seen that before. I felt a panic. Why would this be, I wondered. Zoom's free accounts, I quickly learned, have a 40 minute cutoff. But that didn't make sense. I'm not on a free account. I'm on a paid account. But the group had to go. Things were moving. So Rochelle was speaking to the group and I was scrambling to solve this problem. I thought I had succeeded. I thought it was like a login issue or. And I told everybody that it was fixed, no problem. Everybody fix the 40 minute thing. We're all good. But then at 40 minutes, the call abruptly cut off. All my hard work, weeks of preparation, dozens of people, people who are paying to be there, and Rochelle, who had set aside time to do me a favor. All of it, poof, gone. Just gone. I felt a larger panic at that point. And then I did the only thing that I could think of, which was that I just re entered the Zoom room and to my relief, so did 90% of the group. They all just came back, even though I hadn't told them to. And then the call just carried on. After the call was done, I called Rachelle and I apologized for this whole mess. As I would later learn, the credit card that was on file at Zoom had expired and needed replacing, and that's the reason why it had defaulted back to a free account anyway. But Rachelle, when I called her to apologize, she said, no, no. She saw a great lesson in was like an accidental experiment. She told me when the call got cut off, you got to see how many people were truly engaged and willing to come back, and almost all of them did. That is very high retention. Rachelle Rochelle said, I laughed because it's true. I mean, I'm laughing now because it's true. And then I thought, oh, my God, what a brilliant way to learn from mistakes. Think about an accidental experiment like this. When something goes wrong, you get to see the results of something you would not have normally done. For example, let's say that I wanted to know how engaged people were on my Zoom calls. That's a hard thing to test because I don't know. I can think of three ways to do it. Number one, I could track how long they stay on the call, but also, I don't know if they're just bored and checking their email and I'm just seeing their face, but I don't know if they're engaged. So option number one, not great. Option number two, I could survey them after every call, but that's tedious and prone to error. So option number two, not great. Option number three, I could literally cut off the call in the middle and see who comes back. But no, I'm not going to do that. That's a terrible user experience. Oh, wait a second. It just happened. That sucks. But now I get to see the results. This actually is how some great scientific discoveries are made, by waiting for things to accidentally happen because we can't or ethically won't set them in motion ourselves. We don't harm people just to see how we can heal them, for example. But when mistakes are made and people are harmed, we have an opportunity to study our bodies and discover new cures. And here's an interesting thought that I found from a scientist ready if we do not test our own ideas to destruction, someone else will. That comes from a meteorologist named Mike Lockwood, who was writing to his fellow scientists in the journal Frontiers in Astronomy and Space Sciences. He wants his peers to embrace errors because progress is nothing but the process of trial and error. He writes more. He writes, mistakes often bring to your attention new areas, techniques and theories that you had not realized were relevant and so drive lateral thinking and serendipitous discovery. Pretty interesting. And, you know, opportunities like this, they're all around you, for example. My friend Lauren King is starting a bagel business. It's called Cloud 9 Bagels. After making bagels at home for a while, she rented a space at a fancy commercial kitchen to see if she could increase her production. And on the first day there, she spent $145 making eight dozen bagels. Seemed good for a moment. And then she realized, wait a second. If she sold those bagels for normal bagel prices, she would earn about $145, which is exactly what she spent to make them. So with that, she put her kitchen membership on hold. My contentment about this startles me. She texted me when she told me about this, I should be more upset, right? And I responded, I actually think that this is excellent. It cost you $145 to see if the economics of this new arrangement worked. Better to do that now than spend thousands of dollars to discover the same lesson later. It was, I realized, an accidental experiment and money well spent. So much can go wrong. Our efforts can fail, our relationships can fracture, our time can be wasted, our egos can be bruised. But in each case, as we face the new challenges of the moment, it is worth asking, if this was an experiment, what is being tested and what was discovered? Because I'm telling you, something is being tested and some result was just found. Maybe you were laid off or a relationship fell apart. Maybe a product didn't work or a conversation didn't go well, or an idea didn't land. You had a hypothesis, something else happened instead. Now you are in uncharted territory, learning the things you didn't set out to learn. But those may be the best lessons of them all. As the scientists said, if we do not test our own ideas to destruction, someone else will. Let's be the first ones to fail to know what's on the other side of it. To learn the lesson quicker, to react to it faster, to have a solution to it sooner. To test our own resilience and the strength and commitment of others, to know what we're dealing with, to create what we want. That is an experiment worth running. And as you may know if you listen to Help Wanted. That was from my newsletter. It's called One Thing Better each Week. One way to be more successful and satisfied at work and build a career or company that you love. You can subscribe to it at onethingbetter Email. That's a web address. One thingbetter Email and. Or just stay tuned here to Help Wanted. Because I read these a few weeks after they come out right here on the podcast. All right, well, I guess my experiment now is to see if you like this, and we'll learn something together. Help Wanted is a production of Money News Network. Help Wanted is hosted by me, Jason
- [13:41]
A
Pfeiffer, and me, Nicole Lapin. Our executive producer is Morgan Lavoy. Do you want some help? Email our helpline@helpwantedoneynewsnetwork.com for the chance to have some of your questions answered on the show. And follow us on Instagram @moneynews and TikTok @moneynewsnetwork for exclusive content and to see our beautiful faces and maybe be a little dance.
- [14:02]
B
Oh, I didn't sign up for that.
- [14:03]
A
All right, well, talk to you soon.