#429 Morality and Ethics: Eden Collinsworth Discusses the New Morality in Politics and Business, and Adam Yore Shares the Business Repercussions of Behaving Unethically in Your Personal Life

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Introduction

On this episode of Business Insanity Talk Radio, we first talk about the relevance of morality in business these days. Then, every small business owners has to understand that their personal and professional lives are not separable; we’ll show you how ethically questionable off-the-job behavior has consequences for your company. Plus, we explore the history of entrepreneurship and the mistakes entrepreneurs have made since the beginning of time. Also, we’ll show you what holds many small business owners back from retirement and what to do about it. Finally, we’ll show you how to pitch a venture capitalist in 60 seconds.

Listen

Segment 1: Eden Collinsworth is the author of a new book “Behaving Badly: The New Morality in Politics, Sex and Business”.

1:30 – What is the relevance of morality today?

3:45 – How do small business owners define morality for themselves?

6:00 – The conflict small business owners encounter between morality and money.

9:30 – Advice to living your best life.

Segment 2: Adam Yore‘s research focuses on corporate governance and he is currently conducting studies in executive compensation, board structure, corporate investment, political corruption, and managerial integrity. He has published his research in top peer-reviewed scholarly journals such as the Journal of Financial Economics, the Journal of Empirical Finance, The Financial Review, and the Journal of Corporate Finance.

15:30 – Managers’ personal and professional lives are not separable!

17:00 – Research shows that ethically questionable off-the-job behavior has consequences for the companies they run.

19:00 – How does your brand affect the consequences of behaving unethically?

20:45 – Advice for small business owners for how to merge their personal and professional lives, so that neither damages their business.

Segment 3: Joe Carlen is the co-founder of Value Guards, LLC and a practitioner of business valuation, patent valuation, and market assessment. His newest book is “A Brief History of Entrepreneurship: The Pioneers, Profiteers, and Racketeers Who Shaped Our World”.

31:15 – Why is it imperative that business leaders understand the history of entrepreneurship?

32:45 – Little-known entrepreneurs who shaped the business world we know today.

33:45 – Mistakes entrepreneurs have made since the beginning of time.

34:45 – The future of entrepreneurship: what we can expect to see over the next 20 years.

Segment 4: Al Levi is the author of The 7-Power Contractor, the book that distills his over 25+ years’ experience owning seven businesses, including a 3rd generation family contracting business on Long Island. Determined to retire at age 48, he documented every job within his company—from the reception desk to the service techs—into operating manuals. It took him two years and $156,000 to complete this task. Those manuals enabled his business to run without him, and within two years, he had a total return on his investment. He met his retirement goal.

41:15 – The Big Idea: Gain the power over your business, or the business will have power over you.

42:15 – What prevents owners from setting up processes so the businesses can run without them?

44:00 – Where do we start in setting up these processes?

45:30 – The 7 Power Concepts to set up the processes you need in your business.

Segment 5: Bradley Miles is the author of #BreakIntoVC, a simple and approachable guide to thinking like a venture capitalist. He is also an investor at Stripes Group, a leading late-stage venture capital firm that makes $10-150 million investments in Internet, Software, Healthcare IT and Branded Consumer Products businesses. He is quickly becoming known as “The Accessible VC”. You can reach him at his e-mail: Bradley@breakintovc.com

49:30 – What to say if you only have 60 seconds with an investor.

51:00 – The terms you need to know to “speak VC” and win your pitch.

52:00 – Why it’s important for entrepreneurs to think like investors.

Sponsored by Nextiva, Alibaba, and BloomThat.


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