Many entrepreneurs have trouble building a culture that enables them to build a scalable company.
In this episode, Garry Ridge, the CEO of WD-40 Company, joins me on the show. WD-40 is a product found in 8 out of 10 American households and sold in more than 176 countries around the world. In this interview, Garry and host Meny Hoffman discuss the approach WD-40 took throughout the years to turn one product into a billion-dollar company, the qualities that make a good leader, and how to build a culture that truly allows you to scale your company.
I’m excited to introduce our guest this week, and my long-time friend, Zacharia Waxler. As Co-Managing Partner at Roth & Co, Zacharia understands that leading a business is just as much about financial health as it is about building a culture of excellence that cultivates growth and makes employees love coming to work.
In this episode, Zacharia drills down into no-nonsense business advice. Zacharia discusses the importance of knowing your data to the success of your business, demystifies the roles of accountant, bookkeeper, controller, and CFO, and shares the number one way to prevent cash flow issues. All in all, an ultra-practical, jam-packed interview!
Listen and enjoy.
With winter fast approaching, I’ve heard from many business owners that they’re planning to attend trade shows and conferences. So I thought I’d tell you a story.
I’ll never forget our first trade show. We were so excited about connecting with some great prospects. After the show, we got back to the office, and someone asked, “Who’s got the bag with the business cards?” (Mind you, this was back in the pre-digital age.) After a heart-wrenching search, we realized that the hard-won cards had been completely misplaced, probably still attending the trade show under a forgotten table.
I took my family on a trip to an amusement park a few weeks ago, and like most parents, I had a vivid picture in my mind of how the day would go. I saw the smiles and laughter on my kids’ faces. I heard their happy squeals as they went on the rides. I felt the good vibes from the amusement park staff as they helped my kids onto the rides.
So you could imagine the disappointment I felt when, as we waited in line for the park’s most thrilling rollercoaster, I noticed that the attendant, a young man in his late teens, was helping kids get on and off with a look of total and utter boredom and indifference—even a little resentment. For someone whose job it is to give kids a good time, he showed zero signs of enthusiasm.
A business owner once told me she had to let go of an employee for creating a toxic work environment. This employee had been sharing personal complaints about the owner with coworkers, rather than bringing them up directly with her. It soon became popular to talk behind the owner’s back, and before long, the circulating negativity caused a rift between her and the team. Obviously, morale and productivity suffered greatly.
Was this employee a liability? Definitely. But there’s also more to the picture. It’s possible that this business owner created an environment that discouraged people from speaking their mind productively.
Do you believe admitting you’re wrong is a sign of weakness or a sign of strength?
Do you think apologizing hurts your credibility or enhances it?
How hard is it for you to apologize to someone you may have hurt?
We all know that a good team can make or break a business. But do you ever wish you could simply clone yourself and create a team of people just as motivated, knowledgeable, and passionate about your business as you are? Ira Zlotowitz, the founder and president of Eastern Union Funding, knows a thing or two about building and sustaining high-performing teams; he grew his own business from a four-person office to a company of over 100 people, closing roughly $5 billion in national loan volume in 2019 alone. In this practical, no-nonsense interview, we discuss how to cultivate a culture of excellence (starting from the very first interview); how to hire the right people; how to master the skill of delegation; and how to make your current employees more valuable to your company.
Has this happened to you?
You’re walking down the street with your morning coffee, feeling great. Your family, your work, your health—all great. You’re happy, optimistic, and ready to take on the day.