799. Q&AF: How To Handle Theft In Your Business, Gaslighting In Business & Jealous Mentor
Digest
Andy Priscilla's "Motherfucking Reality" podcast tackles real-life issues faced by entrepreneurs and business owners. The show features Q&A segments, internet discussions, and personal anecdotes. In this episode, Andy addresses a listener's concern about potential embezzlement in their small business, advising them to implement strong financial controls, hire outside auditors, and scrutinize invoices. He also shares his own experiences with financial mishaps, emphasizing the importance of staying vigilant. Another listener seeks guidance on dealing with an unreliable sales representative. Andy recommends setting clear expectations, establishing accountability, and potentially terminating the relationship if performance standards are not met. He emphasizes the importance of hiring based on relationships and experience, rather than just sales skills. A listener shares a challenging situation where their mentor, now a peer, has been unsupportive after a promotion. Andy advises on embracing the reality of competition and focusing on personal growth. He emphasizes the importance of building a championship mentality and not seeking validation from others. Finally, Andy reflects on his early entrepreneurial journey, highlighting the importance of learning from experience and self-reliance. He shares a story about quitting college after realizing that his professors lacked real-world business experience, emphasizing the value of learning from successful individuals and the importance of grit and resilience.
Outlines
Business Challenges and Real Talk
Andy Priscilla introduces his podcast, "Motherfucking Reality," which focuses on real talk, personal development, entrepreneurship, and success. He explains the different segments of the show, including Q&A, Crews the Internet, Real Talk, and 75 Hard Verses. He also emphasizes the importance of supporting the show by sharing it with others.
Handling Embezzlement and Financial Controls
A listener asks for advice on how to handle potential embezzlement within their small business. Andy advises on implementing financial controls, hiring outside auditors, and being vigilant about invoice scrutiny. He shares his own experiences with financial mishaps and emphasizes the importance of staying on top of financial health.
Dealing with Unreliable Sales Representatives
A listener seeks guidance on dealing with a sales representative who has not delivered on promises. Andy advises on setting clear expectations, establishing accountability, and potentially terminating the relationship. He emphasizes the importance of hiring based on relationships and experience, rather than just sales skills.
The Importance of Self-Reliance and Learning from Experience
Andy reflects on his early entrepreneurial journey and the importance of learning from experience rather than relying on others. He shares a story about quitting college after realizing that his professors lacked real-world business experience. He emphasizes the value of learning from successful individuals and the importance of being gritty and resilient.
Navigating Difficult Promotions and Mentorship
A listener shares a challenging situation where their mentor, who is now their peer, has been unsupportive after a promotion. Andy advises on embracing the reality of competition and not seeking validation from others. He emphasizes the importance of focusing on personal growth and building a championship mentality.
Keywords
Embezzlement
The act of illegally taking money or assets entrusted to one's care, typically by an employee or someone in a position of trust. It involves a breach of fiduciary duty and can have serious legal consequences.
Financial Controls
Procedures and systems implemented to safeguard assets, ensure accuracy of financial records, and prevent fraud or errors. Examples include segregation of duties, internal audits, and approval processes.
Sales Representative
An individual responsible for promoting and selling products or services to customers. They typically work on commission and are expected to meet sales targets.
Mentorship
A relationship in which a more experienced person provides guidance and support to a less experienced person. It can involve sharing knowledge, skills, and advice.
Self-Reliance
The ability to rely on oneself and one's own resources to achieve goals and overcome challenges. It involves taking responsibility for one's actions and decisions.
Grit
Perseverance and resilience in the face of challenges and setbacks. It involves a strong work ethic, a commitment to achieving goals, and the ability to bounce back from failures.
Championship Mentality
A mindset characterized by a focus on continuous improvement, a willingness to learn from others, and a belief in the power of collaboration. It involves celebrating the success of others and using it as motivation to achieve greater heights.
Q&A
How can I protect my business from potential embezzlement?
Implement strong financial controls, such as mandatory vacations for finance personnel, hire outside auditors, and carefully scrutinize invoices.
How do I handle a sales representative who is not delivering on promises?
Set clear expectations, establish accountability, and consider terminating the relationship if they fail to meet performance standards.
How can I deal with a mentor who is not supportive after a promotion?
Embrace the reality of competition and focus on your own growth. Don't seek validation from others and build a championship mentality.
What is the most important lesson I should learn from my entrepreneurial journey?
Learn from experience, be gritty and resilient, and don't rely on others for answers.
Show Notes
On today's episode, Andy answers your questions on how to handle and avoid theft inside your place of business, how to navigate the situation when you hire external help for your business who are not true to their word, and what to do when you sense jealousy from your mentor after you get a big promotion.
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