What Tech Companies Can Learn From Small Businesses And Vice Versa (S11E7)

What you’ll see this episode

Get ready for an adrenaline-packed episode featuring night 4's Blox-Off and day 5's challenge all rolled into one thrilling event! It's the contestants' final opportunity to shine as they dive deep into Merging Small Business & Startup Philosophy. Who will rise to the occasion and secure their spot in the ultimate Blox-Off showdown? With tensions soaring, keep your eyes glued to the screen because you won't want to miss a single electrifying moment!

You can feel the nerves

The Blox-Off challenge shakes things up with an even deeper dive into systems and playbooks, and rapid fire quiz to test their knowledge. Without any red jerseys on stage, it's a golden opportunity for someone new to take the lead. The rankings are announced, and it's tighter than ever. The next morning, we get to know more about last night’s pod winners over breakfast. And behind the scenes, our host gears up for an epic final day by receiving a mobile IV from one of our contestants—because hydration is definitely important for all entrepreneurs!

Then, it's off to today's lesson: Merging Small Business & Startup Philosophy. The season's final challenge is revealed, a three-part intensive task where Bloxers outline their plans to scale their businesses. After their final pitches, consultations fine-tune our Bloxers' strategies. Pay close attention because there's a lot to learn from this! As night falls, tensions rise for the final Blox-Off. We see new faces, red jerseys, and everything in between. Who will emerge victorious? Well, you'll have to tune in to the final episode to find out!

What Tech Companies Can Learn From Small Businesses And Vice Versa

Today's lesson underscores the distinct strengths and weaknesses of both startups and small businesses in various operational aspects. Startups excel in branding, scalability, technology adoption, and visionary thinking, while small businesses often struggle with crafting compelling narratives, establishing robust public identities beyond the founder, and maintaining strategic foresight amid daily tasks. Small businesses can address these challenges by dedicating regular time for strategic reflection, implementing technology and outsourcing to free up resources for higher-level decision-making, and embracing incremental time-saving measures. Additionally, the importance of playbooks, processes, and SOPs (Standard Operating Procedures) in scaling businesses is highlighted, emphasizing the need to delegate day-to-day tasks to focus on growth-oriented activities. The concept of customer success and its funnel approach is discussed, emphasizing the value of post-purchase engagement in boosting retention and customer lifetime value. The session concludes with group discussions on practical examples of technology, processes, and external support that optimize business efficiency and effectiveness. 

Key Takeaways:

  1. Take a certain amount of time out of your week to step back and view your business from a distance. Similarly to how a sculptor would step back from her work to gain a new perspective before stepping back in to mold it. If you’ve constantly got your hands on your business you can’t see it from all the angles.
  2. Playbooks and systems allow us to scale our human capital. It allows us to replicate the quality of tasks in faster amounts of time. And it allows us to clone ourselves in the form of employees and contractors that do the work for us.
  3. Customer success is the funnel the customer should be going through after spending their first dollar with you. It’s designed to increase retention. 
  4. Proper retention equates to a higher lifetime value per customer, and overall a much lower requirement of sales and marketing because we need less total customers.
  5. Concierge MVP allows a startup to begin/progress/launch without needing a whole product.

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Meet The Judges

Andrea Furtick
Andrea Furtick
Founder & CEO of AGC Toys Inc.

Andrea Furtick is a multifaceted creative force, renowned as a published author, fine artist, and toy designer. As the CEO of AGC Toys Inc., she pioneers innovative concepts in the realm of toy design, captivating audiences with her distinctive vision and craftsmanship. With a passion for storytelling and divination, Andrea is the creator of the Afro Goddess Divination Collection, a series celebrated for its spiritual depth and artistic beauty. Her work has garnered widespread acclaim, culminating in a contract with U.S. Games Systems Inc. in 2022, a testament to her enduring influence in the industry. In addition to her creative endeavors, Andrea is a dynamic keynote speaker, captivating audiences with her insights on art, spirituality, and entrepreneurship. Her engaging presentations have graced prestigious events such as The International Divination Event 2022 and the Northwestern Tarot Symposium 2022, solidifying her reputation as a thought leader in her field.

Brad Ellison
Brad Ellison
Owner of Ellison Painting, LLC

Brad Ellison is the owner of Ellison Painting, LLC, known as Michigan’s Most Professional Painting Contractor. With a history as a former Blox competition winner, Brad is dedicated to elevating Bloxers’ business with his valuable insights.

Chris Kovac
Chris Kovac
Founder of kovac.ai

Chris started his adventure in digital marketing in 1996 when he and a college buddy started their first company, Merlin-Enterprises.com (long story…). The focus was on building websites and ranking high in the new search engines (aka search engine optimization). Unfortunately, but not surprisingly, that company did not set the world on fire. Since then, Chris has worked with some of the most well-known brands in the world (Hallmark, Sprint, Microsoft, 3M, others) as well as early-stage businesses and challenger brands. Over the last 15 years, Chris has had the opportunity to speak nationally on digital marketing and social media best practices. Speaking engagements include national marketing conferences, universities (KU, UMKC, NMS), Gallup’s AIM Institute, American Marketing Association, Business Marketing Association and many others.

Emily Keyes
Emily Keyes
Founder & CEO at The Talent Boom Group

Emily Keyes is a powerhouse in the global recruitment industry, renowned as a top-tier career matchmaker for executive-level creative, entertainment, and digital talent. As the founder of The Talent Boom Group, Emily bootstrapped the business in 2012, expanding its reach across three continents. Under her leadership, the company has achieved remarkable success, pulling in millions of dollars in profit annually while maintaining its status as a bootstrapped yet top-quality boutique recruitment firm. Emily's expertise lies in matching elite talent with the world's largest brands, advertising agencies, Fortune 500 companies, and scaling startups on a global scale. With a personal background spanning three continents, she is particularly passionate about assisting expat hires and nurturing expat talent. Based in Miami, Florida, Emily is not only a career matchmaker but also a dedicated business coach and mentor. Through The Global Business Coach, she helps business owners strategize their ventures and break free from emotional barriers to achieve success. Furthermore, Emily's role as a TV business judge and coach for over 300 start-ups and small businesses across the US has solidified her reputation as a trusted advisor in the entrepreneurial community.

Jordan Bell
Jordan Bell
Founder & CEO of Agency Bell

Jordan Daniel Bell is a sought-after advisor, consultant, speaker, educator, and expert contributor in the areas of digital marketing, technology, automation, and startup management. Jordan is the CEO of Agency Bell, a Digital Advertising Agency that leverages Machine Learning to build competitive advantages for high-budget digital brands. He has founded and launched several successful companies, consulted or advised startups in numerous industries, and has managed hundreds of millions of dollars in digital campaigns for Fortune level companies. Jordan was featured as an Executive Coach on Seasons 4 and 11 of "The Blox" (a Reality Competition for Entrepreneurs). Jordan is an expert on advertising, digital agencies, automation, and entrepreneurship. He is a proud husband, father, and an avid musician.

Lily Benitez
Lily Benitez
Owner & Founder of Blade Craft Barber Academy

Lilly Benitez, the owner and founder of Blade Craft Barber Academy has mastered her craft of barbering and customer service over the last 10 years in the salon industry. Bilingual in English and Spanish, she is committed to establishing BCBA as a staple in the industry. She has been searching the last few years for the right opportunity to target male-specific barbering education. After years of research and investigation across the country, Lilly has decided to build it herself. While the future could bring various locations nationally for Lilly's concept, she focused the start of her business in Dallas, Texas with the dream to create an elite level of barber training, and hopes to expand to provide many opportunities outside of Dallas. She wants to help share her wealth of knowledge with other like-minded entrepreneurs by offering coaching and consulting around business, barbershop and salon businesses, and shop education. Barbering and education are Lilly's passions, and she is committed to providing the best of both to her clients, students, and community.

Nemanja "Neman" Golubovic
Nemanja "Neman" Golubovic
Founder, CEO of Kale My Name

Nemanja Golubovic, an entrepreneur from Montenegro, is the CEO and Founder of Kale My Name, one of America’s most successful vegan restaurants. Upon its launch, his mission has been to transform how people eat by providing plant-based meals that contribute to human health and look after our planet. With few resources and opportunities available to him when he first arrived in the United States from Montenegro, Golubovic has worked hard to become a successful business owner and provide healthy options for those who want them.

Rich McCoy
Rich McCoy
Founder & CEO at Rivus Energy Consulting

Rich McCoy is the Founder and CEO of Rivus Energy Consulting, a leading authority in solar sales and renewable energy solutions. With a focus on empowering professionals in the field, Rich provides expert training in solar appointment setting, objection handling, and sales strategy development. Through Rivus Energy, he drives business growth with sales training, lead generation, and strategic partnerships, contributing to a more sustainable future.

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