Episode 27: Eric Child: Part 1 of 2 - Shark Tank & Consumer-Product Success

Eric Child, CEO of Spark Innovation, talks about the difficulties of succeeding in the consumer-product world without marketing and manufacturing resources. Child shares four product success stories and how some of those successes started with ABC's Shark Tank.

Show Notes:

• Spark Innovation's four most successful products, including FiberFix [01:09]
• Eric Child talks about the marketing side of their business, beyond invention [03:41]
• "Retailers are not looking for products, they're looking for programs." [09:18]
• "If you bring them a really cool product but you haven't really thought through how it's going to make them successful, it doesn't matter." [11:31]
• Learning from Derek Sivers' example of "Service First" [13:07]
• Screenmend: An Overview [16:57]

References:

• SparkInnovation.net
• FiberFix
• Product PowerUp
• Screenmend
• Kickstarter
• YouTube: Screenmend Pitch on Shark Tank
• YouTube: Illumibowl on Shark Tank
• TED Talk: How to start a movement by Derek Sivers
• Wired Article: Derek Sivers Sold CD Baby for $22 Million, Giving Most of It Away

Randy Garn, Partner at Skipio.com, shares his experience with business from the perspective of a mentor and at the beginning, as a mentee. Garn's advice on how to have difficult conversations, how to make and keep lasting partnerships and friendships, and why he says great leaders will stretch you.

Show Notes:

• Someone who made Randy Garn want to become a better version of himself [01:05]
• Learning from Harvey Mackay [02:03]
• "Who knows you and what they think about you is what matters most in your life." [03:14]
• Brandon Steiner, Steiner Sports [05:08]
• "It's building those deep, meaningful relationships that drive value." [06:30] … "If you can drive value for one another and help support one another, then that's a business partnership and a friendship." [06:41]
• Great leaders… "will stretch you and they will push you, and they will not be easy on you." [08:32]
• Being In The Flow, "If you're growing in skills and challenges at the same time -- then you're in the best state of happiness." [10:27]
• "It's just as easy to think small as it is to think big." [11:40]
• "'No, step back. Let them do it.' But, even if they fail, it's going to be a better learning lesson than if you step in and do it for them." [15:31]
• "You have to think about the long-game and you have to be a really good mentor for your people." [17:10]
• "Part of being a really good leader is being willing and able to do the hard things." [20:25]
• When you're a leader and you know that something has to be done, "the longer you wait, the harder it is and the worse it gets." [24:56]

References:

• Skipio
• Swim with the Sharks Without Being Eaten Alive by Harvey B. Mackay
• Entrepreneur America by Rob Ryan
• The One Minute Manager by Ken Blanchard and Spencer Johnson Crucial Conversations by Kerry Patterson, Joseph Grenny, Ron McMillan, and Al Switzler

Randy Garn, Partner at Skipio.com, shares his experience with business from the beginning, highlighting the importance of communication, explaining what drives his investments, and why he says you have to prioritize people in order to make any company successful.

Show Notes:

• Background and explainer behind the book, Prosper [01:17]
• Overview: Skipio, A mobile marketing company [02:38]
• Law of Reciprocity: The more people I help to succeed, the more successful the whole company will be. [06:24]
• Prioritizing People: Just one of the Four "P's" [08:32]
• When you think about some of your favorite leaders, they don't want the credit [10:00]
• Compensation & Employee Profit Sharing [13:03]
• Sales as an "individual sport" vs. game-ifying for teamwork, increased revenue [18:43]
• Mark Eaton: Quit thinking about yourselves. "The more you give, the more you're going to get." [22:37]

In this episode, we learn from Scott Johnson of impeccable skills in creating a scalable business that is consistent from leadership, to sales, to customer.

Show Notes:

• How to take what you know from book learning and create greater knowledge with real life learning [03:42]
• Two principles to keep you from losing control as your company begins to scale [06:32]
• The importance of having a point of view of the world and being able to articulate why you're doing what you're doing [06:59]
• Enhancing company identity by hiring within your company values [07:17]
• Using company values to inspire customer satisfaction [12:59]
• Realizing the strategic role that HR leaders can have in their organizations and allowing them to take hold of their company's shape [14:45]
• Strategic action being lead by HR [18:00]
• Using people analytics to describe the emotional health of an organization [20:10]
• Overcoming the status quo with "the three b's" [21:17]

References:

• The 4-Hour Work Week by Timothy Ferriss
• Forbes

In this episode, we learn from Motivosity's founder and CEO and chairman of Workfront, Scott Johnson on how he created a business rooted in meaningful actions and gained success through placing value on workplace appreciate and company communication.

Show Notes:

• How Motivosity achieves their mission in making employees happier being at work [01:33]
• How Scott used personal experiences and realizations to highlight the hardships within the workplace that businesses are missing [05:12]
• Learning from a bad boss and making your own [09:15]
• Recognizing the value of learning from other leaders [11:11]
• Defining 'enterprise work management' [15:08]
• Determining what is really important and how to gain success through reflection [18:01]

References:

• None of Note

In this episode we hear from CEO and President of DUOVenues, Jill Krishnamurthy. Jill talks about staying grounded in both her interactions and day-to-day processes.

Show Notes:

• Innovation for the sake of the customer, not for the sake of innovation alone. [05:50]
• Tracking and understanding metrics is critical in understanding the customer. [08:00]
• Processes will become best practices when you trust suggestions from your team. [10:32]
• Surround yourself with people that will keep you humble and make you feel confident. [14:31]
• The importance of keeping yourself grounded. [16:46]

References:

• The Obstacle Is The Way: The Timeless Art of Turning Trials into Triumph by Ryan Holiday

In this episode we here from CEO and President of DUOVenues, Jill Krishnamurthy. Jill guides us to success through growing a business catered to clients and how relationship building has been and can be an essential part of client experience.  

Show Notes:

• How DUO evolved from Noah's Event Venue to what it is now [00:44]
• Jill's concept of acquiring [01:42]
• The importance of office community [06:44]
• How to stay connected to an individual when your skill set puts your circumstantial knowledge above theirs [10:15]
• Having a relationship and an enriching client experience simultaneously [12:24]

References: 

• None of Note

In this episode Dave Rutter, CEO and president of Costa Vida discusses the importance of individual and business mission statements. And how continued business growth comes from continual learning.

Show Notes:

• How Corporate Alliance put them in touch with the right person for the right job [00:52]
• "Your mission and your vision is what is talked about in the halls. Not necessary what is written on the walls" [04:35]
• Staying on course with individual mission statement and self correction [09:03]
• How to stay focused on our ultimate goals with continued learning and reading [12:22]
• Being open to change, as to not hinder growth [14:57]
• Abandoning ego to work together as a team: ten heads are better than even two [20:04]

References:

Who Moved My Cheese by Spencer Johnson

In this episode CEO and President of Costa Vida, Dave Rutter shares what makes Costa Vida special. Rutter tells of his two mentors who, although very different, taught him the importance of working hard to do the job right, and focusing on those things of greater importance; people.

Show Notes:

• The difference that makes Costa Vida stand out from other restaurants is in quality food that makes you feel good [00:49]
• Learning the importance of near perfection from his father in law [04:28]
• A mentor whose business was second to his desire to serve the community [07:50]
• How to inspire young men and women who do not view the job as a career [12:30]
• Ways to stay in touch with your stores and employees and to beware of boardroom decisions [17:17]
• Taking the time to meet with leaders from different industries leads to greater idea sharing, less wasted time and more business connections [21:01]

In this episode Carla Meine expounds on the need to hire great people and how to use measuring, proper management systems and technology to help them succeed. She explains how letting people go was a favor to them and the company, as well as the hiring process she used to find those who had not only the education but the skills, beliefs and heart necessary.

Show Notes:

• How networking and surrounding yourself with the right people can provide support and learning opportunities [01:18]
• The ways that social media platforms can better connect customers to you and each other [04:54]
• Becoming a 'customer obsessed company' [07:36]
• Measuring success in ourselves and employees [09:34]
• Why shooting the 'dogs' at the bottom and unleashing the tigers at the top, encourages the herd to move forward [13:34]
• What it takes to make it as a small business: vision and great people [14:52]
• Let go! Set your priorities and then allow other skilled employees to take the lead [18:25]
• Techniques to sift through those who know how to interview, to find those who really have what it takes [20:34]
• Systems for managers to be accountable for their teams while mentoring individuals for success [22:26]
• An attractive company for potential buyers goes beyond the money. It needs excited employees, great technology and expertise [23:55]