Episode 18: Lessons in Entrepreneurship, Leadership, and Burnout

In episode 18 of the “Grow Your Damn Business” podcast, Scott Goodrich interviews Scott Anderson, a seasoned entrepreneur with a wealth of experience in guiding small to medium-sized businesses. Here’s a summary of their engaging conversation.

Episode Highlights

[0:00] Intro

[1:14] Brief background on Scott Anderson

[2:56] The power and value of coaching for entrepreneurs

[7:40] People issues as the root cause of organizational problems

[10:43] Using assessment tools to avoid interview bias and  having a consistent hiring process

[13:20] What led Scott to entrepreneurship

[15:59] Learning from past failures in entrepreneurship

[17:18] Challenges and emotions in running a family business

[20:38] Turning the business around and implementing employee ownership

[24:08] Listening, delegation, and finding the right people for the job

[27:11] Thinking bigger and trusting the process of delegation

[29:49] Current focus on non-profit work and coaching entrepreneurs

[32:25] Rapid-fire questions

[36:24] Outro

The Journey of an Entrepreneur:

Scott Anderson shares his experience as a serial entrepreneur, having led or launched ten companies primarily in the small to medium-sized business sector. He acknowledges the non-linear path of business growth and emphasizes the importance of learning from the scars and setbacks encountered along the way.

The Power of Coaching:

Anderson discusses his transformational experience with coaching, which helped him break through business plateaus and significantly advance his entrepreneurial endeavors. He advocates for the value of coaching in providing new perspectives, accelerating growth, and helping entrepreneurs focus on their strengths while delegating weaknesses.

People and Talent:

A recurring theme in Anderson’s narrative is the critical role of people and talent in an organization. He highlights the challenges entrepreneurs face in hiring and managing teams, especially avoiding interview bias and the tendency to hire individuals similar to themselves. Anderson stresses the importance of using assessment tools and having a consistent hiring process to ensure the right fit.

Family Business Dynamics:

Drawing from his experience in running a family business, Anderson discusses the emotional complexities and conflicts that often arise. He advises against getting involved in family businesses if possible and emphasizes the importance of controlling equity and clear communication among family members.

Leadership and Delegation:

Anderson reflects on his journey of understanding what it means to be a leader. He emphasizes the importance of listening, delegating effectively, and spending the majority of time on activities that add significant value to the business. He warns against the entrepreneurial trap of trying to do everything oneself, which can hinder business growth and personal well-being.

The Impact of Burnout:

Anderson expresses concern about the prevalence of burnout among entrepreneurs and the workforce in general. He advocates for clinically proven practices to prevent and recover from burnout, emphasizing the importance of letting go of certain responsibilities and focusing on one’s health and relationships.

Current Focus:

Today, Anderson is dedicated to his non-profit work, helping military families recover from post-traumatic stress disorder and expanding support to women recovering from domestic violence and sexual assault. He continues to coach entrepreneurs, focusing on technical burnout and helping them grow their businesses effectively.

Key Takeaways:

  1. Coaching is a powerful tool for entrepreneurs seeking to break through plateaus and focus on their strengths.
  2. Hiring the right people is crucial, and entrepreneurs should use assessment tools and processes to avoid bias.
  3. Running a family business comes with emotional complexities, and it’s essential to manage equity and relationships carefully.
  4. Effective leadership involves listening, delegating, and focusing on high-impact activities.
  5. Preventing and addressing burnout is critical for entrepreneurs’ health, relationships, and business success.

In conclusion, episode 18 provides a deep dive into the experiences and lessons learned by a seasoned entrepreneur. Scott Anderson’s insights offer valuable guidance for those navigating the challenges and opportunities of running and growing a business.

Connect with Scott

LinkedIn: https://www.linkedin.com/in/scottandersonms/

Website: http://doubledareyou.us/

Free Burnout Masterclass: https://watch.burnoutbreakthrough.com/s/aInmIb

AT EASE USA (Non-profit organization): https://ateaseusa.org/

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Meet our Host

Scott has an entrepreneurial spirit that’s been burning since his teenage years. Back then, he was mowing lawns, managing paper routes, and selling greeting cards door to door – always finding different ways to put some cash in his pocket! After graduating college, Scott had a successful career in sales and operations leadership, but his desire to be a business owner was never far from his heart. Seven years ago, he and his wife, Jenn, took the plunge and started their own business. Like many others, they spent all their time on the struggle bus – dealing with cash flow, payroll, and questioning whether their doors could even stay open. Ultimately, they persevered and learned some incredibly valuable lessons along the way.

Now, Scott is dedicated to helping others avoid the pitfalls he faced, fulfilling his purpose as a coach, and helping owners and teams achieve their dreams. When he’s not guiding businesses toward success, Scott can be found hitting the gym, on the golf course, or racking up miles on his Peloton.

As an EOS Implementer, Scott is passionate about helping business owners build a solid foundation and clear vision, empowering them to achieve growth, balance, and financial freedom – all while enjoying the ride.

Scott Goodrich