Let Me Speak To A Manager

Summary

In this conversation, Ian and Frank discuss the topic of changing your manager's mind. They share their personal experiences and insights on navigating the dynamics between managers and employees. They explore why managers often fall in love with their ideas and the challenges of convincing them otherwise. They also discuss the importance of trust, competence, and taking ownership in building a persuasive case. The conversation highlights the need to understand the manager's perspective and the impact of decisions on their roles and responsibilities. The conversation discusses five methods to change the mind of a manager. These methods include bringing new information to the table, explaining the unintended consequences, using facts and data, building a posse of supporters, and changing the environment. The hosts provide examples and insights on how to implement these methods effectively. They emphasize the importance of removing ego and being open-minded to new ideas. The conversation also highlights the significance of storytelling, seeking feedback, and maintaining conviction when persuading a manager.

Chapters

00:00   Introduction and Personal Experiences

03:02   Managers Falling in Love with Their Own Ideas

06:09   Taking Ownership and Making a Big Impact

08:07   Managers Making Decisions for Frontline Employees

13:20   The Role of Trust and Fear in Persuasion

21:18   Proving Competence and Taking on More Responsibility

23:14   Good Managers Harnessing and Empowering Employees

23:32   Bringing New Information

26:51   Explaining Unintended Consequences

30:08   Using Facts and Data

37:08   Building a Posse

44:42   Changing the Environment

Are you burned out? You're not alone. Burnout feels inevitable in this age. But you don't have to roll over and give up. Frank and Ian outline several steps to help you get your mojo back.

Takeaways

• Consistency and daily practice are key to achieving success in any endeavor.
• The Seinfeld method, or creating a streak of positive habits, can help build momentum and lead to long-term results.
• Writing every day can help establish credibility and build a following.
• Distinguishing between fads and trends is important in setting sustainable goals and habits. Streaks can gamify habits and make them more enjoyable and motivating.
• Consistency and daily habits are crucial for success in personal and business endeavors.
• Lead generation and marketing should be daily habits in order to grow a business.
• Streaks can lead to significant long-term rewards and success.
• Streaks can also have negative consequences, such as burnout.
• Starting and maintaining streaks can have a compounding effect over time.

Chapters

07:36

Introducing the Seinfeld Method

14:45

The Power of Consistency and Daily Practice

27:31

The Role of Daily Lead Generation and Marketing in Business

34:37

The Uninterrupted Streak of Breathing

43:56

Starting and Maintaining Streaks for Success

In this conversation, Ian and Frank discuss their experiences raising capital for their businesses and investing in different markets. They explore factors influencing a small business owner's decision to seek capital, such as market conditions and personal financial goals. They also delve into the advantages of investing in Richmond, Virginia, including lower costs compared to other markets and the ability to leverage their knowledge and contacts. The conversation highlights two investment structures they have used: a portfolio of single-family homes and the renovation of commercial buildings. Overall, they emphasize the importance of understanding the market and building a solid team when seeking capital and investing in real estate. Frank and Ian discuss their previous real estate deals and their current investment opportunity. They highlight each deal's different structures and returns, emphasizing the importance of having multiple exit strategies and considering market conditions. They also discuss the benefits of private funding over traditional bank loans and the security of investing in real estate-backed bonds. 

01:38 The Market in 2024: Hunting for Capital

06:05 Richmond's Market and Potential

08:38 Richmond's Metropolitan Statistical Area

10:31 Considering Other Markets: Fort Lauderdale, California, and DC

13:03 Entering the Richmond Market

14:00 Why Continue Investing in Richmond?

15:42 Challenges of Entering a New Market

20:04 Different Investment Structures: Single-Family Homes and Commercial Buildings

22:56 Structuring the Investments: Portfolio of Single-Family Homes

23:26 Structuring the Investments: Renovation of Commercial Buildings

23:52 Different Deal Structures

30:48 Investing in Identical Assets

35:25 Real Estate-Backed Bonds for Cash Flow

41:08 Private Funding vs. Traditional Bank Loans

44:28 Diversifying Investment Portfolios

45:16 Market Conditions and Team Strength

Frank and Ian discuss the challenges of restarting after taking a break in this conversation. They share personal experiences and insights on overcoming inertia and embracing discomfort when starting something new. They emphasize the importance of commitment, setting goals, finding leverage, and seeking support to hold oneself accountable. They also highlight the benefits of taking breaks to recharge and gain fresh perspectives. They encourage listeners to take control of their decisions and make intentional choices when restarting or pursuing new endeavors.

Takeaways:

Restarting after a break can be challenging, but it is possible with the right mindset and strategies.

Embrace discomfort and lean into the change process to overcome inertia and create new habits.

Set specific goals, find leverage, and seek support to hold yourself accountable. Taking breaks can provide opportunities for recharging, gaining fresh perspectives, and avoiding burnout.

00:00 Introduction and Catching Up

02:15 Taking a Break from Podcasting

05:30 The Challenges of Restarting

09:01 The Importance of Commitment and Change

11:08 Embracing Discomfort and Overcoming Inertia

20:32 Setting Goals and Finding Leverage

26:33 The Benefits of Taking Breaks

30:06 Accountability and Recharging

35:37 Seeking Support and Holding Yourself Accountable

Coach "Prime" is disrupting the landscape of college football recruiting. Assuming a roster that won only one game in 2022, Deion Sanders is wasting no time upgrading the roster but at what cost? In this episode, we talk about the pros and cons of building a team versus buying one (along with the short and long-term repercussions).

Screw Vegas; real men take boys trips to Omaha! Thinking of going to see Warren and Charlie next year at the biggest investor event of the year? Frank and Ian give you an inside look at what you can expect from travel, accommodations, restaurants, tickets, finding a seat, and of course, where to find a decent casino.

North Carolina has introduced a bill to eliminate participation trophies. We debate the merits of continuous versus intermittent feedback and how demonizing encouragement for beginners might not be the best answer. When is it appropriate to cheer participation, and when is it hurtful? We look at the parallels of youth sports with managing a corporate team.

Too many people major in minor things. Anyone who responds with “busy” every time you ask them how they’re doing is likely not a productive asset to their company. Why are people busy? It’s typically an inability to prioritize, a refusal to delegate, and an unwillingness to tackle the hardest tasks. So they fill their day moving paper around and responding to emails while the wealthy focus on a few big things and ruthlessly cut everything out of their schedule.

In this episode, we dive into the psychological barriers involved with “busy” people and talk about how you can switch your focus.

Bud Light became the subject of future business school case studies when it alienated a significant portion of its core customer base. By some estimates, the mistake could cost the king of beers up to $5,000,000,000. With one decision, Bud Light handed millions of cases of beer over to Miller Lite and Coors Lite.

In this episode, we offer free advice on what Bud Light should do in response to this all-time bomb of a campaign, and we also look at the moves its competitors should focus on.

Most new managers try to "fix" every poor performer. This is part ego and part naivety that everyone can be "fixed." But these employees suck up your time as a manager and keep you from spending time with your best performers. And when these managers are finally forced to fire their first employee, they rarely look back and think it was too fast.

So how do you know when it is time to cut someone loose? We dive into this topic using our personal experiences as managers and executives.

The Ostrich Effect explains the peculiar phenomenon where people stick their heads in the sand during lousy times, ignoring troubling information easily accessible to them. Put differently, FOFO (fear of finding out) can be more dangerous than FOMO (fear of missing out).

Whether you are new to an office, leading a new team, or working in sales, connecting with people is critical. And most people are doing it all wrong.

In this episode, we bust out a cheat code to help you build a relationship with anyone in five minutes or less.

The dominos are falling, and it's starting to feel a lot like 2008 again. With SVB, Signature, and Credit Suisse making news for the wrong reasons, Frank and Ian look to lessons from the past and talk about how the latest banking crisis is informing their investment decisions.

*Disclosure: Frank and Ian are knuckleheads, not financial advisors. These are opinions and should not be mistaken for advice. You also shouldn't take fantasy football or dieting advice from our hosts either.

We built a bracket of 64 all-time party anthems and decided on a winner.

The Criteria:

• It could be any genre (rock, country, hip-hop, R&B, pop)
• It could be any kind of party (rager, backyard bbq, wedding, tailgate)

**Please note that our list is light on pop music from the past 15 years and highly biased.

***This episode has nothing to do with business, investing, careers, sales/marketing, markets, real estate, or anything remotely intelligent. But it does answer our show's guiding star question, "Is it fun?"

We brought in Indiana's #1 realtor, Jeff Paxson, to help us with the best responses to the most common sales objections. In a March Madness-style bracket, we pit objections against each other, moving on to those that we consider the most difficult to handle. We debate the best responses to "Your fees are too high," "Can you call me back next month," "I had a bad experience with your company before," "Your online reviews are terrible," and more!

Behind every inspirational story at the Super Bowl was a long list of personal failures, setbacks, and losses. The top names in the biggest game rose to prominence by building off each failure. In this episode, we look at how failure can be used as a fuel rather than a black mark on your career.

"I either win, or I learn. But I never lose."

~Jalen Hurts, quarterback of the Philadelphia Eagles (losers of Super Bowl LVII)

The future looked bright for one highly recruited high school football contract. And then he made history with the largest licensing deal offered to a recruit before signing with the University of Florida. As soon as he took the money, things fell apart. In this episode, we look at the pressure and expectations of landing life-changing money.

Chick-fil-A is among the most profitable restaurant chains in history. It routinely ranks #1 in customer service, and individual franchises boast profit margins unfathomable amongst their peers.

Frank recently attended a conference with Chick-fil-A Chairman Dan Cathy. This episode summarizes Cathy's masterclass on building a high-performing culture, hiring and retaining great people, and scaling a world-class profit machine.

"Be fearful when others are greedy, and greedy when others are fearful."

~Warren Buffet (and Frank Cava)

The market swung violently from pessimism to "full bull mode" in January. Rates came in, stocks were up, and bidding wars are flaring back up in real estate and trading cards. Is risk back on, or is this economy setting itself up for an even bigger collapse? We break it down from a fundamental perspective. Get your popcorn!

In this episode, we look at several high profile examples where individuals passed on life-changing money in the short term to build even more wealth in the future.

Frank is never afraid to pour profits back into investments in himself. In this episode, Frank walks us through his decision to cut a massive check to the success guru, Tony Robbins, and takes us into this week-long Business Mastery course for an inside glance at what it was like to attend.

Prevailing wisdom extolls the virtues of diversification. Spread your effort and investments so that no venture can bring you down. But how much do you know about anything with so little time invested in each? Look at the richest individuals in history, and you'll find very few who did it by diversifying. Most took big bets on themselves, burned the boats, and pushed all their chips onto the table. We debate the merits of both strategies in this episode.

Negativity bias is a cognitive bias that explains why negative events or feelings typically have a more significant impact on our psychological state than positive events or feelings, even when they are of equal proportion. In this episode, we look at how this bias can help or hurt our decision-making in our careers, investing, and leading people.

So you nailed the job interview, congratulations. Now what? We've got you covered in this episode and our conclusion might surprise you.

Bull markets are like great parties. Everyone has a blast, they go on forever, and no one wants the night to end. The global economy has been raging for a decade and now we're straight into the after-party. But how are we funding this late-night extension? Debt. Lots of debt.

With consumer debt now at levels twice as high as the last debt crisis, it feels like we are headed for one hell of a hangover.

Does it feel like more people are cheating? Whether it is chess, walleye fishing tournaments, poker, or CEOs of cryptocurrency exchanges, the news is filled with liars, scammers, and frauds. In this episode, we examine the cheater's mindset and what can be done about it.

In this episode, we discuss the process of raising private capital for a technology startup in 2022. Frank interviews Ian about the recently closed funding round for Keep, an early-stage tech company focused on car security and monitoring. Ian shares how he chose who to pitch, their concerns, and the unique challenges of doing this during an economic downturn.

Crypto crashes, consumer debt hitting record levels, the stock market is crashing, Musk is firing half of Twitter ... are these signs of a bottom, or are we just getting started? Frank and Ian dig into these juicy morsels like they were eating double bacon cheeseburgers.

1. The coming bloodbath of layoffs in January 2023
2. Elon Musk is taking a chainsaw to Twitter
3. Google's CEO is completely unprepared to manage during a recession
4. Housing is likely to see price drops of 25-50% in 2023
5. Joe Biden demonizes the oil industry
6. New York's salary transparency law goes into effect
7. The cornhole cheating scandal sweeping the globe

The Let Me Speak To A Manger podcast predicted this recession months ago, and now the only question left is how deep it will get. In this episode, we talk about steps we are taking in our businesses and with our investments as we head into a highly uncertain 2023.

Would you rather own a single-family rental property or a 1952 Topps Mickey Mantle baseball card? Depending on where you live, the latter might be a much better investment (and definitely sounds cooler at a cocktail party). In this episode, we dive into our childhood hobby and compare the similarities of investing in trading cards, stocks, and real estate.

This is the second part of our ongoing series on interviewing. We dive into why a hiring manager should ask these questions and what they should look for in an answer. We also offer advice to candidates on how to answer these questions to get the job.

If you like this episode, check out Episode 50 for Part 1.

Frank and Ian dive into compelling stories driving the news cycle.

How much of a role does luck play in a career? When we study the uber-successful, do they leave clues or are they a product of an impossible combination of fortunate events? 

If given the choice, remote work is incredibly appealing. No commute, more flexibility to manage personal responsibilities, more snack breaks, etc. But the long-term financial ramifications of working from home have yet to be determined. Are remote workers more at-risk during a lay-off? Do office workers get preferential treatment for promotions and pay increases? And what does choosing to work remotely say about your drive and commitment? We look at the pros and cons of choosing to work from home in this episode.

Quiet Quitting is a viral TikTok concept that is working its way into the mainstream. In a nutshell, "quiet quitting" is about rejecting the notion that work has to take over one's life, and that employees should ever go above and beyond what their job descriptions entail. According to Metro, this can take many forms – including turning down projects based on interest, refusing to answer work messages outside of working hours, or simply feeling less invested in the role. In this episode, we look at this catchy term for an old problem – low employee engagement by watching several hot takes on TikTok and breaking them down from a fundamental perspective. Does this term have merit and if not, what is a disengaged employee to do instead?

The PGA golf tour is facing an existential threat from an incredibly wealthy competitor. The LIV golf tour out of Saudi Arabia is shaking up the world of golf with massive payouts, new rules, and an aggressive approach. We look at the PGA's initial response and explain how it is doomed to fail unless they innovate. We also look at other classic business wars like Pepsi vs. Coke, Apple vs. Samsung, and of course, professional wrestling as analogs for any business. When faced with a competitive threat, do you become more creative or do you whine and give up?

The world of sports recently lost one of the greatest play-by-play announcers of all time. Over a career that spanned nearly 70 years, Vin Scully built a brand as the go-to voice for must-see sporting events like the World Series, NFL playoffs, NCAA tournament, and of course, LA Dodgers baseball. In this episode, we look at what made Vin Scully so beloved by fans and the lessons anyone could apply in their own careers.

Frank and Ian compare their fantasy football league to the world of business. Fortunately for Frank, he is much better at execution with his business than he is with his fantasy roster.

In late July, Unilever broke the internet by announcing the discontinuation of one of America's most iconic treats, the Choco Taco. Frank and Ian were devastated and spent the next 48 hours scouring convenience stores to pile up stock.

Then our energy quickly turned to the miracle story of one man pitching his boss on a new product that would ultimately generate more than 1,000,000,000 units sold. That man is Alan Drazen and he joined us to share his founder's journey from concept, prototype, first sales, viral marketing, landing Taco Bell, and growing the business over four decades.

Alan Drazen is a dreamer who created something lasting value from scratch. His story will inspire you to reach higher than you thought you were capable of.

From the time we are kids, we are taught that anxiety is dangerous and that the solution to its pain is to eradicate it like we do any disease—prevent it, avoid it, and stamp it out at all costs. Yet cutting-edge therapies, hundreds of self-help books, and medications have failed to keep anxiety at bay. A third of us will struggle with anxiety disorders in our lifetime and rates in children and adults continue to skyrocket.

But are we thinking about anxiety all wrong? Dr. Tracy Dennis-Tiwary thinks so and joins us for a wide-ranging discussion on how anxiety can become a superpower in one's career. In this episode, we dive into her brilliant book, "Future Tense: Why Anxiety Is Good For You (Even Thought It Feels Bad)." If you struggle with anxiety in a professional setting, in your relationships, or even in parenting your kids, this episode will help you think differently about stress. The only thing you should do faster than listen to this episode is head to Amazon to buy her book with more "aha moments" than Frank's time learning from Ian's greatness at NVR.

Buy the book here: https://www.amazon.com/gp/product/B09GRLT7ZY/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0

Pay inequality is a fact of life. A manager gets paid more than her subordinates, her manager gets paid more than her, and her manager's boss gets paid even more. Everyone wonders how much their manager makes, and we are equally keen to learn about the difference in pay with our co-workers. In this episode, we look at recent research done regarding the impact of knowing the difference in pay of our peers and managers (and how much it impacts our quality and volume of work).

Do people work harder when they learn that their boss makes more than they expected? And does it have an opposite effect when we learn about peers who make more than we thought? What should this data tell us about how much transparency companies should strive for with pay? Would Ian work so hard on this podcast if he thought Frank was making more for significantly less work?

Are you looking to move up in your company? Tired of watching less talented peers get promoted while feeling stuck? This episode is for you. Most decisions to be promoted are made well in advance of the position opening. If you're waiting for an invitation to interview, you might be sorely disappointed. In this episode, we talk about how you can start positioning yourself as someone who should move up within the organization, and how your behaviors should change before you even get the chance to interview.

On the 50th anniversary of the infamous Watergate scandal, Frank and Ian dive deep into the lessons from this ugly moment in American history. 

"Yeah, I'm gonna need you to go ahead and come into the office this weekend."

~Lumbergh, Office Space

7 in 10 people report feeling micromanaged at work, yet only 3 in 10 managers self-report micromanagement tendencies. Of course, everyone hates working for a micromanager but inevitably, most fall into the same controlling tendencies as their former managers.

In this episode, Frank and Ian dive into tangible steps you can take if your boss is sucking the life out of you at work. Next, we examine why managers take this overbearing approach and how you might be part of the problem. Finally, we offer an approach you can take with your manager that gets them to ease up on the reigns and let you do your job with more autonomy.

Stocks, bonds, and crypto have folded like cheap suits in 2022. Yet residential real estate prices march higher even with mortgage rates doubling in the first six months of this year. As housing affordability indexes approach obscene levels, Frank and Ian look at what comes next in residential real estate.

In this episode, we dive into a concept made popular by the book, "Multipliers," by Liz Wiseman. In this book, she looks at two distinctly different types of managers and the impact they have on teams. Multipliers get more from teams by giving away power, while Diminishers requires ever more resources with their controlling ways. Frank and Ian reflect on the multipliers and diminishers they've worked with throughout their careers and what set them apart.

In early Spring, we felt as if an old game had ended and a new one started. No longer were Frank and Ian guessing where we were in the last cycle. Something new and much less forgiving was beginning. In this episode, our hosts talk about the phases of a recession and how the dominoes tend to fall. How can you prepare and what actions can you take to end up stronger on the other side of this ugly economic cycle?

Steve Trang runs a seven-figure coaching business helping real estate businesses improve their sales approach. But after graduating with a master's degree in mechanical engineering from UC San Diego, that path was anything but certain. Steve's first role out of college was at Intel, designing the USB interface and hard drive in cell phones. But he left that safe career to pursue real estate at the worst possible time in 2007. After several hard years, Steve's resilience paid off and he grew from an individual realtor to building a real estate office that led to his training business today.

We talk to Steve about his fascinating career and the mental fortitude required for entrepreneurship. We touch on finding his first deals as a realtor during the financial crisis, the pressure on his marriage of starting a business with no money, following the money, and starting a business that leverages his best talents. This episode has a little bit of everything from an incredible person with lofty goals.