Why 99% of Businesses FAIL (Harsh Truth)

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3M ago 30:56

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GUEST HOST:
Justin Shoemaker, CEO of Clearwave Water and Shoemaker Syndicate, recounts his journey from his Navy service to building a thriving career as an entrepreneur and sales leader. He reflects on his experiences in water treatment and solar sales, highlighting the vital impact of work ethic, mindset, and discipline in achieving success in sales.
EPISODE:
In this episode, Philip and Justin discuss key aspects of business management, including hiring, firing, and financial challenges. They reflect on past missteps, such as hastily filling positions without a solid grasp of the business side, which resulted in financial losses. They stress the importance of staying actively engaged in all areas of the business, balancing trust in employees with regular check-ins and feedback to ensure accountability.

Key points

Hiring & Firing: The speaker shares experiences with hiring too quickly and needing to let people go due to financial constraints or underperformance. They stress setting clear expectations from the start and making data-driven decisions when terminating employees.
Trust but Verify: While trusting employees is essential, regular checkups and feedback ensure tasks are being done correctly.
Employee Development: The speaker focuses on developing employees by aligning their roles with their interests and skills, creating buy-in and retention.
Financial Realities of Business: They discuss budgeting challenges, unexpected expenses, and the need to adjust pricing and sales volume as a business grows.
Small Business Struggles: Many small businesses struggle with pricing and competing with larger corporations that offer lower costs.

Overall, the conversation highlights the balance between delegation, financial management, and leadership in a growing business.
RESOURCES:
Justin Shoemaker
Facebook: https://www.facebook.com/DJShoez/
Linkedin: https://www.linkedin.com/in/justin-shoemaker-531aa312a
Philip
Instagram: https://www.instagram.com/iamphilipsessions/?hl=en
TikTok: https://www.tiktok.com/@philipsessions
Linkedin: https://www.linkedin.com/in/philip-sessions-b2986563/
Facebook: https://www.facebook.com/therealphilipsessions

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