Grace in Business Ep 575

In a candid discussion on maintaining professionalism in business, the host of the podcast emphasizes the economic benefits of grace and restraint. He shares personal experiences of how avoiding public disputes and offering constructive criticism has led to profitable deals, even with connections to adversaries. The host stresses the importance of separating ideas from individuals and handling disagreements without burning bridges, as future collaborations may arise. He also touches upon the human aspect of business, reminding listeners that both employees and business owners are fallible and that understanding and patience can lead to better outcomes and preserved reputations. The host concludes by advocating for positive engagement and support within the business community, as it fosters a more constructive environment for all involved.

• Keeping personal feelings in check can lead to profitable deals.
• Professional restraint often connects to success through indirect relationships.
• Disliking someone should not interfere with potential business opportunities.

"I cannot tell you the amount of times where biting my lip and not talking smack has made me a lot of money because of deals that I was able to make with people that were one degree connected from someone I did not like."

This quote emphasizes the financial benefits gained from exercising self-control and maintaining professionalism, even when dealing with people connected to those you may personally dislike.

• Wealthy individuals often view business strategically.
• Business is likened to a game by successful entrepreneurs.

"The wealthiest people in the world see business as a game."

The quote suggests that the most financially successful people approach business as a strategic challenge or competition, akin to a game.

• The podcast aims to share business growth lessons.
• The host aspires to help listeners expand their businesses and potentially collaborate with his company to reach significant financial milestones.

"This podcast, the game, is my attempt at documenting the lessons I've learned on my way to building acquisition.com into a billion dollar portfolio."

The quote outlines the podcast's objective to document and share the host's experiences and insights from building a successful business portfolio.

• The importance of grace and professionalism in business interactions.
• Avoiding public disputes and maintaining relationships can be beneficial.
• Criticizing ideas or methods should be done independently of personal feelings towards individuals.

"So one of the lessons that I've learned is to have grace in business, and not just because of the whole human element. We're going to put that on pause for a second, but just for business reasons."

The speaker highlights that grace in business is crucial not only for ethical reasons but also for pragmatic, business-centric considerations.

• Burning bridges is seen as a non-profitable action.
• It is possible to disagree or part ways without damaging relationships.
• Separating personal disagreements from business decisions is key.

"Because one thing that I've learned is that burning bridges makes you no more money. You cannot make any money from a bridge that's burnt."

This quote underlines the idea that destroying relationships in business serves no financial benefit and that maintaining connections, even when disagreements arise, is financially wiser.

• The speaker has faced public criticism and opposition in the past.
• Some detractors who have criticized the speaker have later sought business partnerships.
• The ability to remain professional and separate personal feelings from business interactions is crucial.

"I've had multiple of these people who have been publicly against me, right? Talking lots of shit. Now come ask if they can try and resell my products, right?"

This quote illustrates that individuals who have previously criticized the speaker have, despite their past opposition, recognized the value in his business offerings and sought to collaborate. It underscores the practicality of maintaining professional decorum.

• The manner in which one handles relationships and interactions is crucial.
• Grace in relationships doesn't equate to agreement but is about the approach and attitude.
• Human nature involves disagreement, but the way of managing these situations is significant.

"What happens now? What kind of position you put yourself in. Now, if you approach those types of relationships that you have in your life with grace, I'm not saying you're going to agree with everyone."

This quote emphasizes the importance of the manner in which one addresses relationships and conflicts. It suggests that while disagreements are natural, handling them with grace is key.

• The behavior of employees can significantly impact a customer's perception of a business.
• A negative experience with a staff member can lead to a poor overall review of the business.
• Businesses are imperfect due to the human nature of both employees and owners.

"And you sit down, and all of a sudden, your entire experience has been totally shifted by this first person, right? And now you leave and you're like, the food is okay. Staff is really crappy here. Like two star review."

This quote demonstrates how an employee's demeanor can negatively affect a customer's entire experience and perception of a business, leading to a bad review based on the staff's attitude rather than the quality of the product or service.

• Employees may not always adhere to the expected conduct, affecting the business image.
• Business owners cannot always oversee every aspect, leading to potential customer dissatisfaction.
• Imperfections in business operations are a reflection of the imperfections inherent in humans.

"Now we all have businesses, and we all have employees who don't follow the fucking script, right? You're like, smile, like, say hi. Pretend like you want to be here, right? And sometimes you as a business owner, aren't there. And so sometimes your business wrongs people because the employees that you have are human, and they will make mistakes."

This quote highlights the challenges business owners face when employees deviate from the desired customer service script, which can result in a negative customer experience. It acknowledges the inevitability of mistakes due to the human element in business.

• Personal recommendations and social media shares are vital for the growth of initiatives like podcasts.
• Word of mouth is a primary driver for expanding audience reach.

"About how you found this podcast, somebody probably tweeted it, told you about it, shared it on Instagram or something like that. The only way this grows is through word of mouth."

This quote points out that the podcast's audience likely expanded due to personal recommendations and social media, emphasizing the importance of word of mouth in increasing the visibility and reach of content.

• The podcast does not engage in traditional monetization strategies such as running ads, sponsorships, or selling products.
• The host's only request from listeners is to share the podcast with others in the same way they discovered it, promoting a culture of paying it forward.

And so I don't run ads. I don't do sponsorships. I don't sell anything. My only ask is that you continue to pay it forward to whoever showed you or however you found out about this podcast that you do the exact same thing.

This quote emphasizes the podcast's unique approach to growth, relying solely on listeners' word-of-mouth recommendations rather than commercial advertising or sponsorships.

• The host believes that most businesses do not intend to provide poor service; rather, they aim to do well but may fail in execution.
• Approaching business interactions with the understanding that businesses are run by humans who have personal lives and challenges can lead to more patience and grace.
• Recognizing the human element in business can prevent negative reactions and promote more constructive engagement.

And so I always like to have that perspective when doing business with anyone in general, because if I am wrong or I feel like the service that I received was poor, I think to myself, I wonder if the owner of this business had this intention.

This quote reflects the host's philosophy of giving businesses the benefit of the doubt, considering the possibility that poor service is not intentional but a result of human error or circumstances.

• Maintaining professionalism and refraining from negative public comments about others in business can lead to future opportunities.
• Personal grievances should be kept private to avoid damaging potential professional relationships.
• Being gracious, even towards those you may not like, can be economically beneficial in the long run.

I cannot tell you the amount of times where biting my lip and not talking smack has made me a lot of money because of deals that I was able to make with people that were one degree connected from someone I did not like.

This quote illustrates the tangible financial benefits of exercising restraint and professionalism in business interactions, as it can lead to profitable deals with connections of those you might have had issues with.

• Burning bridges in business can permanently damage future collaborations or assistance.
• It is important to consider the long-term consequences of one's actions in business dealings.
• The host advocates for keeping negative thoughts to oneself and questioning whether any offense was truly intentional.

And so it is the economical choice to have grace in business in general, because those people may come back to you, or you may come back to them and need something from them in the future. And if you burn that bridge, you cannot walk across it again.

This quote highlights the practical and economic rationale for maintaining positive business relationships, as they may prove beneficial in future interactions.

• Emphasizing the importance of empathy and understanding in business interactions.
• Recognizing the challenges that all business owners face, such as employee issues and demanding clients.
• Encouraging patience and perspective, especially from fellow business owners.

"And I think when you can do that and approach that with everyone's business, now, obviously, you as a business owner, you always want to correct that because no one's going to give you grace, right?"

This quote underscores the need for business owners to strive for understanding and patience, as they cannot expect leniency from others.

"Because every other business owners runs the same shit you are, right? Like employees dealing, doing stupid stuff."

The speaker is highlighting the commonality of issues faced by business owners, suggesting a shared understanding should foster mutual respect and better treatment.

• Discusses the long-lasting effect of negative comments and actions in a business context.
• Suggests that negative reputations are remembered more than the specifics of what was said.
• Advises against leaving harsh reviews and instead encourages constructive communication with business owners.

"And all that people ever remember, and you guys have probably heard this, is no one remembers what the negative person says or even who they're saying it about, but they just remember that what they are saying was negative."

This quote points out that negative commentary leaves a lasting impression of the speaker rather than the subject, potentially harming the speaker's reputation.

• Advocates for business owners to support each other through positive actions, like leaving constructive reviews.
• Suggests that understanding the struggles of business ownership should lead to better treatment of fellow business owners.
• Highlights the potential positive impact of leaving a helpful review instead of a damaging one.

"Imagine a business owner do that to you. You're probably pretty pumped about it."

The speaker is encouraging business owners to treat others as they would like to be treated, emphasizing the positive feelings that result from supportive actions.

• Stresses the value of maintaining good relationships in the business community.
• Advises against destructive behavior that could damage business relationships and reputations.
• Conveys the idea that doing the right thing in business is beneficial in the long run.

"So don't burn bridges. Do the right thing."

This quote is a succinct reminder of the speaker's overarching message: that maintaining positive relationships and acting with integrity are crucial in the business world.