Roadmap to Referrals: Episode #335 – Now and Then

Host: Stacey Brown Randall
Release Date: November 12, 2024
Duration: Approximately 30 minutes
Podcast Description:
"Roadmap to Referrals" is dedicated to helping professionals grow their businesses through natural and consistent referrals, without resorting to manipulation, incentives, or direct asking. Hosted by Stacey Brown Randall, the podcast offers practical strategies for experts across various fields to build a referable business while maintaining their professional integrity.

Episode Overview

In Episode #335, titled "Now and Then," Stacey Brown Randall takes a reflective journey through the evolution of her podcast and business. Celebrating over eleven years of experience, she revisits the very first episode of "Roadmap to Referrals," comparing the advice and strategies she offered then with her current insights. This episode serves as both a nostalgic look back and a testament to her growth and the enduring principles that have sustained her success.

1. Introduction to the "Now and Then" Concept

Stacey opens the episode by announcing a departure from her usual format. Instead of delivering a new topic, she decides to revisit the foundational ideas from her first episode to illustrate how her business strategies have matured over time.

Notable Quote:

"We're going to do something a little bit different with this episode."
[00:01]

2. Revisiting Episode One: "7 Ways I Overcame a Business Failure"

Background Context:

• Original Episode Release: June 28, 2018
• Core Topic: Seven strategies Stacey employed to overcome a significant business failure and launch her second, successful venture.
• Purpose of Revisiting: To assess which strategies have withstood the test of time and to provide updated perspectives based on her decade-long experience.

Key Points Revisiting:

a. Working on the Mindset

Original Insight: Stacey emphasized the importance of maintaining a resilient mindset, shielding oneself from negative external opinions, and focusing on personal "why."

Notable Quote:

"I listened a little too much to what others thought about my business... I bought in hook, line and sinker."
[07:34]

Present-Day Reflection: Stacey confirms that the focus on mindset remains unchanged but has intensified over the years. She now incorporates a broader range of resources, including diverse literature that delves deeper into the psychology of success and personal growth.

Updated Insights:

• Enhanced Practices: Incorporating more books focused on mindset beyond just business strategies.
• Evolving "Why": While her core motivations remain family-centered, the peripheral aspects adapt as life progresses.

Notable Quote:

"Nothing's really changed. I talk about reading books, I talk about understanding my why..."
[10:40]

b. Having a Focused Sales Plan

Original Insight: Stacey discussed creating a structured sales plan with specific activities and a dashboard to track progress, emphasizing accountability and focused effort.

Notable Quote:

"What gets measured gets managed."
[15:19]

Present-Day Reflection: She acknowledges the effectiveness of her initial sales plan and describes its evolution. Stacey now categorizes her sales strategy into lead generation, nurturing, and conversion, moving away from traditional one-on-one networking towards a more streamlined, referral-centric approach.

Updated Insights:

• Shift in Strategy: Less reliance on networking events; more emphasis on cultivating referrals and leveraging social media for nurturing leads.
• Advanced Tools: Introduction of specialized frameworks and resources, such as those discussed in Episode #273, to refine her sales processes.

Notable Quote:

"I rarely do one on one networking. I don't actually go to networking events anymore."
[20:19]

c. Knowing Thy Numbers

Original Insight: Understanding and projecting business finances is crucial. Stacey highlighted the necessity of tracking not just revenue and expenses but also forecasting future financial needs.

Notable Quote:

"You have to know your numbers. You can't just guess and you can't just assume."
[25:05]

Present-Day Reflection: Stacey shares her adoption of the "Profit First" methodology by Mike Michalowicz, which revolutionized her financial management by prioritizing profit allocation before expenses. This shift has provided her business with greater financial stability and clarity.

Updated Insights:

• Implementation of Profit First: A systematic approach to managing finances, ensuring profitability is prioritized.
• Comprehensive Tracking: Maintaining detailed spreadsheets and leveraging professional services (bookkeepers and CPAs) to stay informed about financial health.

Notable Quote:

"Once I put profit first in the business, it really did shift everything about how I managed my money."
[27:53]

3. Resources and Tools Mentioned

Throughout the episode, Stacey references several resources to aid listeners in implementing the discussed strategies:

• Books for Mindset:

  • The Big Leap by Gay Hendricks
  • You Are a Badass at Making Money

• Financial Management:

  • Profit First by Mike Michalowicz

• Sales Planning Tools:

  • Downloadable dashboard templates available in the show notes (stacybrownrandall.com/335)

Notable Quote:

"How’s your mindset? When things get tough, how do you protect it?"
[09:46]

4. Personal Anecdotes and Updates

Stacey adds a personal touch by sharing updates about her family and life, such as mentioning her Maltese dog. These anecdotes humanize her journey and reinforce the importance of balancing personal life with business growth.

Notable Quote:

"We have like an almost 6 year old. She's still a puppy to me because she's like a little Maltese."
[20:19]

5. Episode Conclusion and Future Plans

As the episode progresses, Stacey realizes that covering all seven strategies within a single episode would extend the duration beyond her desired limit. Consequently, she decides to split the content into two parts, with the remaining four strategies to be discussed in the next episode.

Next Steps:

• Upcoming Episode: Continuation of the "Now and Then" series, delving into strategies 4 through 7.
• Encouragement to Listeners: Stacey invites listeners to revisit original episodes and utilize provided resources to deepen their understanding and application of referral strategies.

Notable Quote:

"We're going to cut this in two and I am going to be back next week and I'm going to talk to you about the other additional ways that I overcame a business failure."
[30:22]

Final Thoughts

Episode #335 of "Roadmap to Referrals" offers a valuable introspection into Stacey Brown Randall's entrepreneurial journey. By juxtaposing her initial strategies with her evolved practices, she provides listeners with a clear roadmap of sustainable business growth through natural referrals. This reflective approach not only underscores the timelessness of foundational business principles but also highlights the importance of adaptability and continuous learning in achieving long-term success.

Listeners are encouraged to revisit early episodes, leverage the shared resources, and stay tuned for the continuation of the "Now and Then" series to fully grasp the comprehensive strategies that have propelled Stacey's business forward.

Resources Mentioned:

• Episode One: 7 Ways I Overcame a Business Failure
• Episode #273: My Leads Framework
• Downloadable Dashboard Template
• The Big Leap by Gay Hendricks
• You Are a Badass at Making Money by Jen Sincero
• Profit First by Mike Michalowicz

For more insights and to access all resources mentioned, visit stacybrownrandall.com and navigate to Episode #335's show notes.