Transcript
Maya Shankar (0:05)
Pushkin. Hey, everyone. In honor of Small Business Month, I sat down with Ben Walter, the host of the Unshakeables podcast and the CEO of Chase for Business. Ben came to us for advice on how small business owners can improve their mental health and build resilience over the long run. And I wanted to hear in return the stories he's gathered over the years of small business owners who've had their own slight change of plans. I hope the takeaways from this conversation are helpful for anyone who's looking to cultivate a bit more resilience when it comes to the changes we all face at work. Thanks. Ben and I started by talking about some of the unique challenges that small business owners face.
Ben Walter (1:01)
The most important thing to keep in mind is that when you're a small business owner, you are the everything. You are the custodian, you are the CEO, you are the floor manager, you are the customer relations professional. If there's a hat you can wear, you wear it. You know, if you work for a big company and something comes up in your personal life, you can say, can someone cover that for me? And in this case, there's often no one to cover that for me. So that's one angle is just how broad your responsibilities are relative to a bigger business. And then the second way is the amount of accountability and responsibility you take for everything that happens in that business because it's yours. If you make a bad decision in a small business and it goes poorly, it can put that business out of business. And that's a worry that you carry all the time. I can't tell you how many small business owners I meet who feel. Who feel deeply, personally responsible for their employees livelihoods and how fundamental that obligation is to their personality and their character. And that doesn't mean that people like me who work for big companies don't take their job seriously and don't feel any level of stress or accountability in life. Of course they do. But if you think about the CEO of a public company, that CEO is responsible for a lot, but with a whole bunch of infrastructure to go along with it and shareholders and governance. And a lot of that just doesn't exist in a small business. It all ends, starts and ends with you.
Maya Shankar (2:32)
Sure. Ben, you host a podcast called the Unshakables where you actually talk to small business owners about how they have navigated some of the most difficult moments they faced when it came to building their businesses. Can you think of an example of someone who found a way through a difficult challenge, maybe related to one of the constraints you just mentioned.
Ben Walter (2:55)
On our very first episode, we had a coffee company who. Their entire warehouse burned down. Most of their inventory gone overnight. And they had to figure out what to do. They had built a strong support system that was not only the traditional centers of influence that a small business would have. An accountant, a lawyer, an insurance agent, all those kinds of things. They'd also built built deep connections into their coffee community, including with competitors. And it's not the way you would normally think that this would go, but because they had built such deep mutual respect, they were actually storing some of their coffee supplies with a competitor.
