Episode Transcript
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Tammy Hershberger (00:01):
Welcome to
the Light Up your Business
podcast, the show where we divedeep into the world of small
businesses.
I'm your host, tammyHershberger, and each episode
will bring you inspiring stories, expert insights and practical
tips to help your small businessthrive.
Whether you're an entrepreneurjust starting out or a seasoned
business owner, this podcast isyour go-to source for success in
(00:21):
the small business world.
Let's get started.
Two sorts for success in thesmall business world.
Let's get started.
Hi everyone, I want to welcomeyou back to another episode of
Let Up your Business podcast.
I'm Tammy Hershberger and todayI want to talk to you about how
to navigate those harddecisions in business.
Every entrepreneur faces thosecrossroads where it's moments
where a single decision canalter the course of your
(00:43):
business.
In this episode, we're going todive into some of the most
challenging yet essential partsof entrepreneurship, which is
making those tough decisions.
So, whether you're dealing withfinancial pressure, you have to
fire someone on your team.
You have to pivot your wholebusiness.
Maybe you and your businesspartner are having issues.
Who knows?
There's so many things thatcould be going wrong.
(01:04):
Those are tough calls that youhave to make, and it's usually
part of the journey.
So I want to break down thedecision-making process from you
know, anything from identifyingthe core issues to executing
that final call, managing theconsequences that come with
those decisions.
I want you to kind of walk awaytoday with practical tools,
kind of a mindset shift, andthen I'll give you some examples
(01:26):
of my own experiences to helpyou lead your business with
clarity and courage in thoseuncertain times.
So if it's financial pressure,team dynamics, you know, shift
in strategy, whatever it is, weall hit those crossroads.
Everyone has to figure out whatto do right, and I kind of want
you to think about, like whatis the step-by-step processes
(01:46):
that it's going to take tonavigate that, and then I'll
give you some of my own examples.
So tough decisions aren't asign that something's gone wrong
.
They're just a part of runninga business.
It's reality.
You're going to have upsetcustomers.
Sometimes You're going to haveemployees that don't get along.
You're going to have employeesthat don't show up for work.
You're going to havepartnerships problems.
Sometimes You're going to havethings that happen in business.
Sometimes you run out of money.
(02:07):
You need cash flow, you needlines of credit.
Whatever it is, we've all beenthere.
The best part about thosemoments is, even though nobody
wants to go through them, theydo test your clarity, they test
your leadership and they testyour ability to move forward
even when the path isn't clear.
Avoiding them, which I've seenpeople do tends to create bigger
(02:27):
problems.
So the goal isn't to escape themoment.
It's more about handling themand handling them correctly.
So you want to clarify theproblem right.
So before you're just like, hey, here's a solution, you need to
take time to sit back, talk tothe people involved, talk to
your business partner, talk towhoever you need to, to find out
what is the issue that you'reexperiencing.
(02:48):
Sometimes it's a people issue,where maybe a system could be
going bad and it's not workingright.
Maybe money's the problem.
And so when you look at that,and if it's a people issue, you
want to get to the root of it,right?
Why is Jimmy and Joe notgetting along?
Why is my customer and myemployee not getting along?
(03:09):
What decision needs to be madeto clarify those things?
If it's a money issue, is thebudget out of whack?
Is it something that you knowthe product is?
We've had that where we'vecreated a new product, right,
and we've kind of set a price ofwhat we were going to shoot for
.
Then I did the job costing andI'm like this chicken coop or
this dog shelter, horse shelter,dog kennel, whatever it is is
(03:31):
overpriced, it's not going towork, and so then we have to
readjust, right.
And then you kind of need tolook at like, if it's a business
partner problem, is thissomething that we can work out a
solution for?
Do you need to buy them out?
Does someone need to get out?
Wherever you are, there'salways a solution.
But you got to dig into what isthe problem, because we think
these surface level issues andthey're never surface level
(03:53):
there's something deeper, right?
Maybe Joe said something toJimmy that Jimmy just it
irritated him and he's nevergotten over it, and maybe you
just need to sit down with themand say, okay, what is the
problem?
Let's apologize, let's move on.
Maybe it's like you're flat ona money We've gone over the
budget too much and now we haveto cut back that budget.
(04:14):
We need to cut expenses.
Maybe you need to go look for aline of credit, because maybe
you need to just get by, becauseit's the slow season.
There's all these differentthings.
So the next thing you need to dothen is, once you've kind of
figured out what is the issue.
You need to set a goal.
So it helps to ask, like what'sthe outcome I'm hoping for?
Well, like I said with Jimmyand Joe, they need to get along,
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they need to work together as ateam.
So then the goal would be tofigure out what is the issue.
How do we get them workingtogether?
Again, if it's I need $50,000for a new building or whatever
you're trying to do, then youneed to figure out how do I put
that kind of money in the budget?
How much sales do we have tohit to get that kind of revenue
right?
For me it was figuring out thecost of that, that new chicken
(04:56):
coop we're going to build.
So it's like I went through, Ifigured out all the job costing,
I figured out how much it'sgoing to cost me, and then I
went back to my designer and Isaid, ok, here's the deal, what
do we have to change, what do wehave to fix?
And then we need to repricethat thing, because it's not
going to make any money the wayit was.
And then we also learned thesecond, third, fourth, fifth
that we build is going to getbetter, because we're going to
(05:16):
get faster building it becauseit was a brand new design.
I need to look into where can Iget material cheaper, right?
Do I need to buy in bulk?
Do I need to find a differentvendor?
Like what is it that we need todo?
So, set that goal, have itclear, because then, when you
have a clear goal, it reducesyour stress, it cuts costs, your
(05:37):
business can grow in differentdirections, you can maintain
your team culture and I'mtelling you, team culture is
huge.
If your team doesn't get along,if they're not on the same page
, if some work hard and somedon't, you are going to destroy
your business because your teamwon't get along.
You're going to get lazy peoplein there who are going to annoy
the really good team players,right?
So you've got to kind of lookat all this as a compass when
(05:58):
evaluating your options.
Without a target, it's easy tomake decisions that are kind of
reactive instead of strategic,and then from there you need to
gather the facts kind ofreactive instead of strategic,
and then from there, you need togather the facts.
Once the problem is clear, it'stime to pull the facts together,
right, which is kind of what Iwas just talking about.
But you need to look at thedata.
Is it in the financials?
Look at your profit loss.
Look at your expenses, look atyour future expenses.
(06:21):
Do a rolling budget.
You know, maybe we're finetoday, but in six months we're
going to be in a problem.
Well, if you know that, thenyou know you can start, you know
cutting costs.
You can start cutting back onbenefits or you can start
pushing the salesman to sellmore or find new revenue streams
or whatever it is.
That way, when you get thesix-month mark, you're not in a
big problem because you don'thave the money.
(06:43):
If it's team performance, right.
You want to get clear data.
So talk to everybody involved,get everybody in.
You know, if I know what'sgoing on.
Talk to your managers, yourproduction managers, whoever it
is.
You want to get customerfeedback.
Maybe it's that new chickencoop we're going to put out.
Well, as we start to show it,we're going to get feedback on
that, right.
And so we want someone my salesteam to tell me feedback.
(07:04):
Like the chicken coop's tooexpensive, it's too small.
We don to tell me feedback likethe chicken coop's too
expensive, it's too small.
We don't like this, we don'tlike that.
Well then, we can take thatinformation and we can modify
that chicken coop to try to makeit more relevant for more
people, right?
Or maybe it's in the wrongbudget range and we got to get
lower costs, so then we have toshrink it or cut back on some of
the accessories or whatever itis, and then all of that helps
(07:25):
you to make a good decision.
In reality of like this is real.
This is how we can move forward.
Now, remember, I know somepeople analysis paralysis
happens.
So they get all the data, theyare looking at it and then they
just get lost.
There's like so muchinformation they can't make a
decision because they need toomuch time.
I have a friend of mine that isvery much like that, like they
(07:47):
just get stuck because there'stoo much information.
I'm kind of the opposite.
I see basics and I move, andsometimes that's not good, but
you always want to make sure youdon't need every little detail,
but you need enough to make agood decision.
Okay, then you're going toexplore your options, lay out
every possible option.
So, if it's financial, maybeit's line of credit, maybe it's
(08:09):
a credit card, maybe it's youknow, just talking to God and
praying and believing that youneed more sales.
Maybe it's talking to the bankand figuring out you know, can I
get a loan on some equipment?
Do I need a loan to getequipment?
There's different strategiesyou can do there.
Maybe it's investors.
I don't know what yoursituation is, but you want to
find out.
What are my options.
Look at the risky ones, look atthe unconventional and then
(08:33):
look at the safe, like to seewhat your options are.
For me it's like when I boughta camera for doing this podcast,
like I looked online.
I looked at reviews.
I saw the different options,like budgets you know all that's
or the pricing, so I could seeif it was in my budget.
That'll help me make a decision.
Sometimes the best solutionsare the ones that don't seem the
most obvious.
(08:54):
This stage is about beingcurious and open.
Don't judge the options tooquickly, but allow room for
creative thinking.
Then you want to assess riskand the reward.
Look at each option and askyourself what's the potential?
What's the upside?
What's the upside, what's therisk right?
(09:15):
You need to see that.
Be honest about what could gowrong and consider whether the
reward is worth the risk.
Sometimes it is.
Sometimes it's not Plan aheadfor what could go sideways.
This doesn't mean you're beingnegative, it just means you're
being prepared.
So, worst case scenario, if I'mtrying to think of an example I
don't know chicken coop, forexample, if I put it out there
(09:35):
and it doesn't sell, well, I'vemade one of those, so one, we
just don't do it again or wemake it smaller.
You know, when you're buyinginventory, maybe you're going to
do a new product.
You might only want to get 10or 20 or whatever of that one.
You maybe don't want to buy5000 because000, because 5,000
might not sell, and then yourmoney's all tied up in 5,000
(09:56):
that you're going to have todiscount so bad to get rid of
them.
Then you're going to look intointuition and God's guidance.
This is always my favoritetopic anytime I get to bring God
into a conversation.
If you look beyond the logic andthe data, there's a deeper
layer to decision making that'smore spiritual.
In those moments where clarityis hard to find, it's not just
trusting your gut, it's aboutturning to God and seeking his
wisdom.
Prayer is huge, so you want tolay out your options and ask for
(10:21):
peace and direction on thoseand then wait on the Holy Spirit
to tell you which way to go.
Get in the word of God.
Get into ways that, like youknow research and then talk to
the Lord.
And if you're looking to bringmore people on, talk to the Lord
and ask him to bring the rightcandidates for you.
If you're looking to go intobusiness with a business partner
, pray about it.
Make sure it's the right thing.
If you need loans, talk to theLord.
Maybe it's not that I need aloan, maybe I just need to trust
(10:43):
more.
I have been there more.
I have been there.
Sometimes that answer doesn'tcome right away, and that's okay
.
But trust God means having thatpatience and the faith that
he's leading you in to what youneed to do next.
Faith is not.
I heard someone recently sayabout faith how you can't build
more faith.
You don't need more faith.
Faith is faith.
You need to get in the word ofGod and find out.
(11:04):
What does that say about whoGod is and what he wants for you
and how he will prosper youMore than enough.
Abundant overflow.
And if something feels off,sometimes I call it my gut
instinct, but usually that'skind of a way to say God telling
me like kid that's not the pathyou should go down.
That's not the way I want youto do that.
And then you need to pause.
You need to ask God is thisreally God's best for me or is
(11:27):
it just a good idea?
Need to pause.
You need to ask God is thisreally God's best for me or is
it just a good idea?
Because I get myself onpassword.
I'm like I got the answer, I'mgoing to find the solution, and
then I realized like, wow, thatcost me more money than I should
have.
That loan was a terrible idea.
I tried it my way and I gotdenied, or whatever happens.
So make sure you wait on God'speace, because it's powerful.
If you're stepping into adecision and you're sensing that
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I don't have peace on it, I'mtelling you don't move yet.
Okay, now, I'm not sayingeverything has to fall on your
lap to do something, but if youknow inside in your heart, in
your Holy Spirit, that that isnot maybe what I should be doing
, you need to wait.
Then maybe get a second opinion, Talk it through with someone
that you trust another businessowner, a mentor, your husband,
(12:15):
business partner for sure, anadvisor, a coach, someone who's
been through something similar.
I think, and this is my opinion.
But, for example, if you'remarried and you're struggling in
your marriage.
I don't think you want to gotalk to someone who's single,
never been married, because theydon't know what it's like to be
in a marriage.
They don't know what it's liketo struggle.
They don't know what it's liketo have to commit and work
together and you know sometimesyou have to give up so your
spouse can have what they needin the same way, right?
(12:36):
And so I think you have to becareful.
It's hard to talk to someoneabout business who's never owned
a business.
They don't know what it's liketo go home and not leave
business at after 5 pm, and so anon-business owner is not going
to understand that Me as aparent, I can't give advice to
parents.
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I can have an opinion.
I can't give advice because I'mnot a parent.
I don't know what it's like tohave to raise these little kids.
So for me probably don't ask mefor advice.
I can give you my opinion, butI can't give you sound advice
because I've never done it.
(13:17):
Sometimes an outside voice canhelp spot blind spots or confirm
what you've already feel deepdown.
They say you can't see theforest or the trees, and that
just means that when you're in amess or in a situation or in a
struggle, you don't see pastthat struggle, right.
And so someone on the outsidecan be like, hey, you're being
too hard on that person oryou're not being fair to the
situation, or you're notthinking about God in the
situation, and they see thingsthat we don't see.
So just be sure to seek someinput, but don't seek validation
(13:39):
.
You still have to make thefinal decision.
Then you get to the point whereyou make the final call.
At some point you have todecide.
Some people just can't makedecisions, and then nothing
happens, nothing changes.
And once that call is made, youcommit to it.
It's not about being 100%certain.
It's about being clear enoughto lead confidently, right.
And your team?
(14:00):
If you have a team of peopleand you're making decisions,
they have to be behind you, theyhave to be sure that their
leader is confident, or they'regoing to be in fear, they're
going to be unsure, they'remaybe not going to be able to
make this thing happen.
And then just remember, youhave to communicate the
decisions that matter right tothe people that matter.
So it's not just about you,because maybe it's going to
(14:21):
affect your team, maybe it'sgoing to affect your clients.
Be honest with them, be human,right People.
We're all human.
We all know that we struggle.
We have these issues and thingsgo awry and things happen.
And then share your why behind,why we're changing or why we're
replacing Jimmy, or why we'regoing to have to let go of
people, or why we're going tohave to cut back on expenses,
because then people can getbehind you and understand that
(14:43):
you're not just making decisionsthat affect them.
And then, importantly, you haveto manage the aftermath of that
decision.
Some decisions lead to winsright.
Others lead to lessons.
If it goes well, you celebratethat right.
You had clarity, you hadcourage and you took it and you
made it happen.
If it doesn't go well, you stepback, you reflect and you
adjust, and just don't haveshame about it, because shame
(15:06):
will destroy you.
One decision rarely definesyour business, but how you
respond to the outcomeabsolutely can, building
resilience.
I have to tell you stories aboutthis.
Big decisions can take a hugetoll on us, so it's important
that you check in with yourself.
You have to rest, you have toprocess, you have to talk to
(15:29):
someone.
You just have to take a deepbreath before you jump into new
challenges.
You got to stay grounded inyour purpose and give yourself
space to recover, because thatlong I can never say this word
longevity it doesn't sound right, as a leader is going to happen
right.
So for me, I've experienced, youknow, with my business.
I had to let it go and it aboutdestroyed me, but it didn't.
(15:51):
I got back up.
I mean, every time the devil'sthrown something at me, it
knocks me down.
I take a beating sometimes, butI get back up.
There's one thing that is aboutme I don't give up.
I don't care what you throw atme, I don't care what you say to
me.
I don't care.
I'm going to come back.
I'm not going to just lay downand die, and I think too many
people do that.
Business failed, marriagefailed, friendship failed, I
don't have enough money, I wentbroke, I went this, that,
(16:13):
whatever, and they just quit andthey lay on the couch and cry
and then just give up.
That is not the person God madeyou to be.
You are giving too much powerto the failure.
That is not how it works.
You got to get up.
You got to do it again.
Show your wife, your kids, yourfriends, your family, someone
else that's looking at you.
You can do it, you can get backup, you can do it, you can get
back up, you can make it again.
(16:34):
So I'm trying to think, um, do Ihave any other examples I could
give you?
I mean, I've done businessesthat didn't always do great and
they, they did okay and I wasable to eventually move past
them and close them and I didn'town money and we didn't
bankrupt them, but they justweren't the right fit, they
weren't my purpose, um, and Ijust keep going.
I mean, they were lessons.
Everything I've ever done, evenif it was really tough, I
(17:00):
learned a great lesson.
So it's kind of like it's agreat education I made, met some
great people.
I, you know, sometimes mademoney, sometimes didn't, but I
always learned something andwhen you learn something it's
not waste.
Always remember you're not alone.
I've been there too.
I've had to make choices that.
Remember you're not alone.
I've been there too.
I've had to make choices that Iwould never thought I'd have to
(17:20):
make, and I did and I keptgoing and people stood beside me
and people that I thought thatmaybe wouldn't didn't, but they
may come back.
I mean, so you just, you neverknow how it's going to go.
But just know you're not byyourself and just keep growing,
keep doing it.
So, to recap this journeythrough the tough decision
making process, just rememberunderstand the issue, weigh the
options, trust your gut and thenmake the bold decision right
(17:42):
and take action.
I encourage you to reflect onyour decisions you've been
putting off, consider how thatyou might be able to move
forward on something that you'vebeen kind of pushing off
because you don't want to makethe decision and then just do it
with clarity and confidence.
I thank you so much for joiningme on this episode.
I hope it's given you a goodroadmap, kind of, to navigate
those tough calls as you face.
(18:03):
You know business decisions andmaking those tough calls.
When you lead with clarity,when you seek God's direction
and you lean on the strategiesthat we talked about today, I
believe you'll be equipped toface uncertainty with confidence
and make decisions that moveyour business towards lasting
growth.
If this episode encouraged you,share with a fellow business
(18:23):
owner who might need to hear it,share with anyone that you can
think of, that might help.
It doesn't have to be abusiness owner, and I'd love to
hear from you.
Send me a message or commentwith one tough decision that
you've had to make and whatyou've learned from it.
Let's keep growing, let's keepleading with purpose.
Let's keep doing it together.
Remember that tough decisionsare not just part of business.
They're part of becoming aleader.
(18:43):
They're part of being a husband, a wife, a church member.
These things are going tohappen.
These decisions will have to bemade.
I thank you for listening.
I ask you to like, share,subscribe, comment and send me
episode ideas.
You can email me atlightupyourbusinessllc at
gmailcom.
I thank you all for listeningand I will see you on the next
one.
And remember, in the world ofbusiness, every success story
(19:09):
begins with a passionate dreamand ends with a strategic
billion dollar handshake.
Stay ambitious, stay innovativeand keep making those deals
that reshape tomorrow.
Thank you all for tuning in anduntil next time, remember.
Proverbs 3.3 says let love andfaithfulness never leave you.
Bind them around your neck,write them on the tablet of your
(19:30):
heart.
That way you will win favor anda good name in the sight of God
and man.
And remember.
If you like what you heardtoday, click the follow button
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