Donovan Bankhead and E.J. Dombrowski discuss their friendship and the impact of reaching out to each other. They talk about the challenges of running a music store, being resourceful, and staying competitive in the industry. They also touch on the importance of automation and delegation in order to focus on innovation and growth. The conversation highlights the constant need for adaptation and the role of competition in driving improvement. They share their experiences of starting and expanding their music stores, as well as the lessons they've learned along the way. Creating a culture where people can speak up and provide feedback is crucial for success. It is important to have a team of people who are willing to challenge and question decisions. Hiring people who are smarter and better than you at certain tasks is key. Trusting and empowering employees to make decisions and take ownership leads to their success and the success of the business. It is necessary to pitch ideas and gain buy-in from the team before implementing changes. Admitting when you're wrong and being open to feedback is essential for building a culture of trust and growth. In this conversation, Donovan Bankhead and EJ discuss the importance of industry relationships and friendships, as well as the value of using Crystal Reports for automation and data analysis in small businesses. They also share insights on hiring and managing employees, setting goals and benchmarks, and the challenges of running a small music store. The conversation highlights the benefits of learning from and sharing with other music store owners.
Chapters
00:00 Building Relationships and Friendships
03:02 Resourcefulness and Creativity in a Small Music Store
09:23 Automation and Delegation for Innovation and Growth
12:27 The Role of Competition in Driving Improvement
14:17 Adapting to the Constantly Changing Marketplace
16:07 The Importance of a Supportive Team and Confidants
27:12 Hiring the Right People for Success
28:30 Empowering Employees to Take Ownership
31:04 Pitching Ideas and Gaining Buy-In
34:43 Admitting When You're Wrong and Being Open to Feedback
57:45 Building Relationships and Friendships
01:05:14 Automating Business Processes with Crystal Reports
01:02:54 Setting Goals and Benchmarks
01:04:12 The Importance of a Strong Work Ethic in Managers
01:06:21 Sharing Insights and Ideas
01:16:07 Finding Inspiration and Learning Opportunities