Wayne Schatzel helps small business owners take control of their businesses and life.
Why small business?
They often hear the phrase in business, “nothing personal, it’s just business.” However, the origins of that phrase is credited to Otto “Abbadabba” Berman who was an accountant for organized crime. Big business has adopted this same mindset and with it, they treat employees like numbers and their clients like transactions on a spreadsheet. Business should be personal.
The small business is the perfect David vs. Goliath underdog story. With a failure rate of 20% in the first year and only half making it to the 5-year mark and 30% making it to 10 years, the odds are against you.
The small business owner competes against a tremendous number of other small businesses, large corporations with seemingly unlimited resources, and governmental regulations and taxes that restrict revenue and opportunities. However, there is no better place to create the work and lifestyle that they want to spend their time doing. For him, it is personal. He help small business owners not only succeed but to flourish.
Business is about relationships, with your employees, vendors, and customers. It is creating a culture of success that everyone wants to be a part of. It is developing a strategy that matches your vision, creating processes that make running your business more efficient and delivering the products or services that your clients rave about. It’s not about him, it is about them and their business.
“I don’t do it for you, I do it with you.” – Wayne Schatzel
Connect with Wayne on LinkedIn.
What You’ll Learn In This Episode
- The difference between consulting and coaching
- Small business owners work in their business and not on their business
- It is important to work with a coach to get better awareness and manage their mindset
This transcript is machine transcribed by Sonix
Intro: [00:00:02] Broadcasting live from the Business RadioX Studios in Atlanta, Georgia. It’s time for Coach the Coach radio brought to you by the Business RadioX Ambassador Program, the no cost business development strategy for coaches who want to spend more time serving local business clients and less time selling them. Go to brxambassador.com To learn more. Now, here’s your host.
Lee Kantor: [00:00:32] Lee Kantor here, another episode of Coach the Coach Radio, and this is going to be a fun one today on the show, we have Wayne Schatzel and he is with BizDevone. Welcome, Wayne.
Wayne Schatzel: [00:00:43] Hi, Lee. Nice. Nice to be here. Thanks. Thanks for asking me to join you.
Lee Kantor: [00:00:50] Well, I’m excited to learn what you’re up to. Tell us a little bit about Biz Dev one. How you serving, folks?
Wayne Schatzel: [00:00:57] Well, Biz Dev one, I’m a life coach and business consultant. So Biz Dev one is I work with small businesses and I help them kind of reevaluate some of their goals or even just create goals and, you know, achieve this success that they’re looking for.
Lee Kantor: [00:01:16] And what was kind of the genesis of the idea? What’s your back story?
Wayne Schatzel: [00:01:20] Well, my backstory was I worked in a lot of different businesses. I worked in sales, I worked in I.T., so I’ve always been a big proponent of business. I love what businesses can do for people. And when I became a life coach, I wanted to work with business owners in general. I saw that business owners, you know, we’re under a lot of stress. They wore all the hats. So basically, I figured I could help the business owner. I help a lot of people that work for them, their vendors, their customers, all that. It’s a bigger ripple.
Lee Kantor: [00:01:54] And when you’re dealing with especially small business owners, are they kind of look at the world a little differently than maybe somebody who’s kind of working in a corporate environment?
Wayne Schatzel: [00:02:05] Oh, yeah, a business owner. I mean, they’re taking it all on their own. A lot of times what I find is the business owners are it’s their their brainchild, their baby, so to speak. So they want to really control what goes on in the business. They want to control basically their life, their lifestyle. A lot of times people come in there to plan their own business to basically run their own life. But with that comes a lot of other things. We talk about life and work balance, but really, it’s just kind of developing a harmony, right?
Lee Kantor: [00:02:42] And it’s one of those things where when you go and become self-employed, you think, Oh, I’m getting rid of my boss that I hate, and now you realize I got 100 bosses. Every one of my clients is now my boss.
Wayne Schatzel: [00:02:53] Yeah. You go from if you had a company that you could just take a month off and it runs itself, that’s really a company. But basically, you’re you’re taking on a self-proclaimed job.
Lee Kantor: [00:03:07] And is that kind of an awakening for a lot of people? They they didn’t they didn’t realize that that’s what they were going to do.
Wayne Schatzel: [00:03:13] Yeah, I think so. You know, if you’re like a great mechanic and, you know, great at fixing cars and you don’t want to work for somebody else’s schedule, you decide on, you know, go into business for myself and they don’t realize, Oh, well, I got to deal with, you know, hiring people, HR issues, payroll, marketing, things like that that they didn’t have the expertize in. And now all of a sudden, they’re there to try and do all those jobs, which because that’s not their skill set. It takes them longer than they probably need to take on those those issues.
Lee Kantor: [00:03:47] Now, in your practice, you do both consulting and coaching a lot of folks, you know, pick a lane. Why was it important for you to do both?
Wayne Schatzel: [00:03:58] Well, I found what the small business owner, you know how you are one way. You are an always right. So there is no differentiating between work in your life as a small business owner because you’ll work late, you’ll work on weekends. So a lot of times the business owner is so focused on their business that they’re not paying attention to things that are going on in their own mindset. So what I find is very valuable is I can be working on a specific subject matter in their business, but it’s their own personal limitations that may be getting in the way. So I just kind of switch hats and I coach them through that, you know, that obstacle is that limiting belief. And then we move on to the problem at hand with the business
Lee Kantor: [00:04:48] Now is that usually the point of entry is more of the coaching standpoint and then getting into the nuts and bolts of the business or does it go the opposite where they have a problem they’re trying to serve with their business? I mean, your your firm’s called biz dev ones. I assume business development is a component of this.
Wayne Schatzel: [00:05:04] Yeah, it’s funny because I started out, you know, as a coach, you would think performance was the way I started with. But it’s most business owners are focused on their business. They’re not really thinking about themselves. And, you know, people understand that they, you know, coaches are helpful, but they don’t realize how it’s affecting them. So when I’m able to do both, that seems to be the the secret sauce for for what I do for my clients, right?
Lee Kantor: [00:05:31] But is the point of entry kind of the kind of the frustrations or is it that I need to get more sales?
Wayne Schatzel: [00:05:37] Yeah, it’s usually the problem with the business that’s going on, whether it’s, you know, their marketing or they’re having some problems where their business isn’t doing as well as they think they’re not sure about what they’re delivering for their business, those type of things. It’s usually a business issue that starts the conversation now.
Lee Kantor: [00:05:57] Is there any advice you can give to the listener here? That is, a lot of our listeners are coaches trying to learn and be better from this standpoint. Is there any kind of advice you can give them that they can do on their own to kind of maybe alleviate some of the frustrations they might be dealing with?
Wayne Schatzel: [00:06:14] Well, I think if if you’re talking to the coach, keep it simple. I think sometimes we have a tendency to overcomplicate things and sometimes the simplest answers is, are the best ones, you know, don’t you don’t have to dig far. The client, the business owner with the right questions is going to tell you exactly where the issue is.
Lee Kantor: [00:06:38] And so it’s just a matter of maybe kind of asking yourself some basic questions and really get clear of those priorities that maybe when you started have kind of drifted a little and maybe get back to a true north.
Wayne Schatzel: [00:06:50] Yeah, a lot of times, you know, the business owner now is doing something that they really didn’t have the passion for. So it’s just sometimes it’s just a reevaluation or even a reframing of what that task is and how that’s going to get them to their end goal.
Lee Kantor: [00:07:09] And do you find that a lot of business owners have trouble delegating like and what happens is all of the kind of work that they are not passionate about, it’s taking up the majority of their time and they kind of lose the passion that they had because they’re not doing the work they love and they’re doing all these kind of administrative or operational tasks that they were. They didn’t sign up for it to begin with.
Wayne Schatzel: [00:07:32] Yeah, you’re right on point with that. I’ve had clients where they didn’t want to let go of either the finances, right? So that might not be their strong suit, but they they feel like that’s something that they don’t want to reveal or whatever the case may be in their mind, but sometimes just having a bookkeeper taking that task off your hands frees up your headspace.
Lee Kantor: [00:07:57] And then sometimes they’re kind of penny wise and pound foolish when it comes to investing in something like that.
Wayne Schatzel: [00:08:02] Yeah, especially if they are, they’re struggling with their business. So they’re they’re they’re really trying to hold tight onto the purse strings, which makes a lot of sense. But it just sometimes they need to have that 36000 foot view to see what what this really is going to mean to the business. And when you’re when you’re in that lack mentality, a lot of times you’re working in the business and not necessarily on the business.
Lee Kantor: [00:08:29] Now do you ever find that business owners kind of are neglecting the ecosystem that’s around them? They’re not kind of getting as much out of their employees, their vendors, even their customers as they could be if they just asked.
Wayne Schatzel: [00:08:45] Yeah, there’s plenty of that, especially in the employees. I mean, there’s been many instances where they’re looking outside of their own company and somebody within their company has some expertize that they can just tap on the shoulder to get them through a particular hurdle. Or even that person might want to move into that kind of a position that could help the company.
Lee Kantor: [00:09:07] Now is that when you’re working with folks, is that where you’re helping them kind of maybe see the forest for the trees like you’re getting in there and with fresh eyes to see maybe kind of even assess like, OK, do you have a lot of assets here that you’re not really leveraging? And there’s a lot of opportunity just right in front of you and a lot of people look outward instead of inward. And there might be kind of there’s a book called like acres of Gold in your backyard that may not you may not be paying attention to because you’re looking, you know, down the road.
Wayne Schatzel: [00:09:37] Well, what I usually find when working with a business owner, that’s kind of in distress. They are. Their head is down there grinding it out. And what I try to do is I come in and I try to really get into their vision of what they wanted for their business. I kind of get in the box with them for a little bit and to see what their initial goals were, what they’re trying to accomplish. And then I try to take them out of the box and give them that 36000 foot view so they could see the forest and then they could see the direction they want to take the, you know, in the forest when they back down among the trees. So usually that that usually helps them a lot because it gives them some clarity that they were missing
Lee Kantor: [00:10:23] And those fresh eyes that I mean, that’s a good exercise for anybody at any stage of their business is to have somebody with fresh eyes. Just look at things that might kind of open up your mind to to opportunities you may not have considered.
Wayne Schatzel: [00:10:36] Yeah, that’s definitely true. And then after that, it’s once you you see that path, then you start taking those action steps and then spend. A lot of accountability comes into play there, but you have to take some action to that’s different than what you’re doing. You know, I guess it’s Einstein’s theory of insanity, so you need to have a when you get that, you know, 36000 foot view, you come back down, OK, what’s the plan? And then you got to start doing it right?
Lee Kantor: [00:11:06] And then does that part of your role also, that accountability partner?
Wayne Schatzel: [00:11:10] Yeah, absolutely. I helped them with the strategies, the strategies at that point, thinking about whether it’s a marketing strategy or even just processes to improve what they’re currently doing to make them more efficient. And then we set up, you know, milestones and we work to make sure that we’re hitting hitting those targets in a timely manner.
Lee Kantor: [00:11:29] And then when you do things like that, it’s amazing what can be accomplished?
Wayne Schatzel: [00:11:35] Yeah, it’s there. Surprised a lot of times the business owner surprised that it wasn’t as difficult as they made it out to be. But I mean, I think we all kind of do that. We make we tell a story that’s not true. And, you know, we base all our actions on that, that false narrative, right? But once they see the truth of that, then it be it becomes a lot lighter. The workload becomes a lot lighter.
Lee Kantor: [00:11:58] Right. Because now there’s steps that can be followed. It’s not this kind of ambiguous thing that you just imagining. It’s like, OK, I do these six things, and let’s see what happens rather than, I don’t know it could be. There’s a lot of uncertainty now. Can you share a story? Don’t name any names, but like where somebody came to you with a certain type of problem and then you were able to help them work through it and get their business to a new level?
Wayne Schatzel: [00:12:26] See, yeah, this I can talk about. I work with one client in particular that they’re they’re relatively new and they were working in an industry with low voltage wiring, and they have a person, another company that could mentor them, that you offered to help them. But they weren’t utilizing some of his knowledge and they weren’t positioning themselves in the industry. So like we were talking about before, just a few questions. You know, I asked, Did you do a SWOT analysis? Did you look at your competition? What’s what’s what’s your your biggest competitor doing? Why aren’t you setting regular meetings with the mentor and sitting down with the mentor and looking at things that maybe gaps that he can help you with? And it’s amazing, just those certain questions within four weeks. They totally changed their trajectory.
Lee Kantor: [00:13:34] Yeah, it’s it can happen that quickly. The right relationship and the right contact or connection can just it’s almost I don’t want to say it’s like magic, but it can happen like magic, where all of a sudden the door opens and now all your problems kind of go away because this this this person or company filled a gap that you needed.
Wayne Schatzel: [00:13:56] Mm-hmm. Yeah, it could be as simple as that. It’s it’s surprising.
Lee Kantor: [00:14:02] Now what is the way you work with your clients? Is it is it direct one on one coaching group coaching? Do you do mastermind groups like how do you serve your clients? How do you how do they work with you?
Wayne Schatzel: [00:14:12] I do one on one coaching, mostly with the business owners because I need to. Sometimes I’ll work with them and a group of people within their company. We could do a group mastermind just with their company. I do also a mastermind group with other business owners. But when I’m working with a business owner, I like to be one on one.
Lee Kantor: [00:14:32] And then so that’s like kind of a regular rhythm where you’re checking in and giving them homework and checking progress and holding them accountable.
Wayne Schatzel: [00:14:40] Yeah, we’ll meet once a week for an hour or two. I’ll give them some tasks, some assignments, things that they should be looking at working on. And then, you know, they could check with me through text message or a phone call during week. And then we, you know, we reconvene back a week later.
Lee Kantor: [00:14:58] Now, when you started your practice, what was kind of the first clue that you were on to something that you had a good thing going here and that you could really help a lot of folks?
Wayne Schatzel: [00:15:08] Well, well, the first time I was called a life coach, I wasn’t a life coach. I was just helping a friend work through her stage fright, giving me a speech for the Boys and Girls Club of America and just talk her through that whole process. And she started claiming I was a life coach for her, and you didn’t even know what that was. I started looking into it. And that was about 13 years ago. And then I looked into being life coach and I got certified from there.
Lee Kantor: [00:15:43] So she gave you the credential before you had the credential.
Wayne Schatzel: [00:15:46] Yeah. And I was scared to be called the life coach to look into this.
Lee Kantor: [00:15:51] So if somebody wants to learn more, get on your calendar to have a conversation with you. What is the best way to do that? You have a website.
Wayne Schatzel: [00:15:58] Yeah, Biz Dev one and you could just email me at Wayne at one.
Lee Kantor: [00:16:06] Good stuff when. Well, thank you so much for sharing your story today. You’re doing such important work and we appreciate you. Thanks, Leigh. All right, this is Lee Kantor juicio next time on Coach the Coach radio.