Business
On today’s show, I’m talking with Allie Taylor, who shares how addressing our mental processes and our concept of self helps us be better business owners and operators—in terms of both lifestyle and budget. I’m so excited to have Allie back on the show today because she was one of my first guests ever. Her PhD in business psychology makes her a formidable advisor when you combine it with her business success—and her failures. An honest and thorough discussion on how to take control of your identity while giving up control of your business for a better enterprise value, this episode is a must-listen for anyone who wants to be top of their game. This is an incredibly important episode for business owners looking to double their enterprise value by loosening their control on their companies—and why this is the best scary thing you can do for yourself and your business. If you’re having trouble separating yourself from your business, you’ll need no more convincing than this episode with Allie Taylor. She has an actual PhD in business psychology which she applies to her business every day to help her clients achieve greater financial and personal freedom. Her tips on how to increase your enterprise value by 50% are powerful and simple, though require a bit of planning for follow-through. She also tackles common issues plaguing business owners like the sunk-cost fallacy and communication issues at the work place that result in decreased efficiencies. We need to learn how to access the people around us, and that’s not natural for most. As she says, you must seek to understand before you can be understood. That said, the first person you should seek to understand is yourself. Knowing if your identity is serving you or harming you cements the next steps you need to take for personal and business growth. If you find yourself feeling defensive when questioned with a fresh perspective, your identity isn’t serving you. Separating your identity from your role in the business lets you see things more clearly with a little distance to pivot both into stronger positions. What You Will Learn In Today's Podcast Interview How separating governance from management roles is vital to success. The five personality attributes business owners should know about: High-innovativeness; higher tolerance for ambiguity; high need for goal achievement; internal locus of control; and a higher propensity for prudent risk-taking. Why your identity can be either your superpower or kryptonite, which you can tell based on how you respond to being challenged. What generations get wrong in communication and how it leads to misunderstanding. How self-identity is often fused to role-identity and what to do about it. You can align your strategy and culture to improve your bottom line by 50%. How private equity destroys culture. That if you’re struggling today in your business, the next step is to make no decision except to start being curious. The sunk-cost fallacy and how to recognize the mindset. If you’re a dissenting voice, you need to have data to support your opinions before someone is going to be open to listening to you. How to capitalize on recalibration to get the future we want Are You Growing The Value of Your Business Take The 2-Minute Assessment To Get Your Intentional Growth Score™ And 1-Page Vision Board. Are you company's current initiatives intentionally designed to increase the value of the business? Do you know what you want from your business long term and why? Do you know what your company is worth? Do you know t