Advice for Entrepreneurs Confronting a Pandemic Environment, with Mike Blake, Brady Ware & Company
John Ray: [00:00:00] And hello again, everyone. I’m John Ray with North Fulton Business Radio, North Fulton Business RadioX. I’m here with Mike Blake. Mike is the host of Decision Vision and a Director at Brady Ware & Company. And Mike, I asked you a question we’re asking everyone, what advice would you give entrepreneurs, business owners as they navigate today’s business crisis?
Mike Blake: [00:00:23] So, I’m going to share an observation that I gleaned from a podcast I just recorded that you haven’t put live yet. And since I’m stealing this idea, it’s from Shane Metcalf of 15Five out in Silicon Valley. And I think the smartest piece of advice that I’ve heard and I like is think about what the opportunity is that this disruption creates.
John Ray: [00:00:49] And this is a very Silicon Valley way of thinking of things any time things go weird, broken, awry, unexpected. And sometimes, Silicon Valley is the instigator that other times, some things just sort of fall off the rails. And the Silicon Valley way of thinking about this is, “How do I capitalize this? What is the opportunity? Is there a new business? Is there a new business model? Do you sharpen your tools in some other fashion?”
Mike Blake: [00:01:16] For example, I’ll give a sneak preview. One example Shane gave was we’re all going to get better at working with video chat, and I’ve resisted video chat. Even though I’m a tech guy, I’ve never really liked video chat. Podcasting is a great venue for me because you don’t have to look at me talk to you. So, I’ve never been a huge fan of video but there really is a great opportunity to sharpen your skills, and your tools, and your acumen in alternative media. But that’s part of a larger concept.
John Ray: [00:01:57] Think about the other side already. And the other benefit to that too is that it’s positive. This will end. I’m confident this is not an Armageddon moment. This is not one of the seven seals. This is not the plague of locusts, any of that stuff. We are going to come out on the other side. So, if you need kind of a pick-me-up, and I know that people are kind of down right now, but a great way to kind of turn lemons into lemonade is to think about what disruption is occurring right now that I can take advantage of.
John Ray: [00:02:32] You and I have spoken a little bit about a new business offering in terms of risk management that I want to launch through Brady Ware.
Mike Blake: [00:02:39] Yes.
Mike Blake: [00:02:40] Is there a is there a better time ever? I mean, I think even more than ’08 where people are now thinking more about risk management in our lifetime, basically, right?
John Ray: [00:02:40] True.
Mike Blake: [00:02:51] So, yes, there’s widespread suffering, and there is misery, and there is death, none of which I can control other than living outside of my basement, like all I do is go to Star Trek conventions. But what I can do is I can identify this market now and the sentiment that is having driven home like a railroad spike, how important risk management is, and that a sophisticated approach to risk management is something that is key to long-term business survival.
Mike Blake: [00:03:24] So, to sum up, think about the long game or Simon Sinek would write, think about the infinite game. And that infinite game means, what opportunities are going to be created for you, for your business to get better, to be better, to be different, so that on the other side that you are actually better for it, you actually do reflect that notion that what does not kill you makes you stronger.
John Ray: [00:03:48] Great advice, Mike. Thanks for giving us that perspective.
Mike Blake: [00:03:51] Any time.
Michael Blake, Brady Ware & Company
Michael Blake is Host of the “Decision Vision” podcast series and a Director of Brady Ware & Company. Mike specializes in the valuation of intellectual property-driven firms, such as software firms, aerospace firms and professional services firms, most frequently in the capacity as a transaction advisor, helping clients obtain great outcomes from complex transaction opportunities. He is also a specialist in the appraisal of intellectual properties as stand-alone assets, such as software, trade secrets, and patents.
Mike has been a full-time business appraiser for 13 years with public accounting firms, boutique business appraisal firms, and an owner of his own firm. Prior to that, he spent 8 years in venture capital and investment banking, including transactions in the U.S., Israel, Russia, Ukraine, and Belarus.
Mike is the host of “Decision Vision.” To find the show archive, go to DecisionVisionPodcast.com.
The “One Minute Interview” series is produced by John Ray and in the North Fulton studio of Business RadioX® in Alpharetta. You can find the full archive of shows by following this link.
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