When you change your perspective you can change business for the better. Join us on Goizueta Effect to hear from leading faculty at the Goizueta Business School on the latest trends, research, and innovations in business, and find out how you can achieve more, do more, and create more in today’s ever-changing marketplace.
Shop Small, Shop Local: Unwrapping the Impact of Micro-business
Dive into the fascinating world of micro-businesses and explore their remarkable impact on local economies and communities. Discover how these micro-businesses drive innovation, create employment opportunities, racial equity, and contribute to the overall economic landscape. Our guests Brian Goebel, Managing Director of The Business & Society Institute at Emory University’s Goizueta Business School and Mercedes Uzuegbunam, Heart Mercedes Founder share their insights into the stories and strategies behind microbusiness. Join us as we discuss the impact of these small but mighty enterprises, rethink intentionality in our shopping behaviors, and gain a deeper understanding of why small business is truly big.
The Importance of Microbusinesses
Brian Goebel discusses how microbusinesses go beyond economic contributions to influence communities. They tailor products and services to the specific needs of their communities, creating a unique and personalized experience. They add cultural richness to communities. Despite their small size individually, their collective impact is significant. They play a crucial role in creating jobs, both directly and indirectly, and contribute to building wealth within communities. Professor Peter Roberts has additional research on microbusiness impact. Additionally, the Association for Enterprise Opportunity (AEO) Bigger Than You Think Report provides helpful insights.
Start:ME: Supporting Microbusinesses
Brian discusses Start:ME, a micro-business accelerator program, operating in underserved communities across metro Atlanta that has served nearly 400 micro-businesses over the last 10 years. The program focuses on supporting businesses to start, grow, and thrive. Follow @StartMeATL on Instagram. Brian and Mercedes also share more about the work of other entrepreneur support organizations in Atlanta including Goodie Nation, Village Micro Fund, The Village Market, Russell Innovation Center for Entrepreneurs, and Women’s Entrepreneurship Initiative (WEI).
Journey to Heart Mercedes
Mercedes Uzuegbunam, Start:ME alum and coordinator discusses her journey to launch Heart Mercedes, a statement jewelry line for the whole family. She discusses how it evolved organically, driven by her passion for art and a desire to give back to the community. She shares how Start:ME played a crucial role in her transition from artist to a business owner and her decision to support other entrepreneurs.
Mercedes emphasizes the importance of authenticity in her brand and how her values show up in her business. She engages the community in “random acts of kindness” such as organizing pop-up art classes in schools, contributing to creative expression in children and enhancing community well-being. Follow @HeartMercedes on Instagram.
Addressing Poverty and Racial Equity
Brian sheds light on how micro-businesses play a role in providing pathways for families to exit poverty, however he cautions that poverty is a systemic issue that entrepreneurship alone cannot solve. Micro-businesses contribute significantly to household income and offer flexibility to entrepreneurs, enabling them to leverage their passions and skills. In reference to economic equity, Brian highlights the racial wealth gap and emphasizes the need for intentional support, ensuring entrepreneurs from underserved communities have access to knowledge, networks, and capital. He also advocates for policy considerations as crucial aspects in creating an equitable environment. Brian highlights several thought leaders and organizations doing great work in the Atlanta area on this topic and references the Atlanta Wealth Building Initiative (AWBI) along with the Partnership for Southern Equity (PSE) as a great starting point to understand the dynamics of Atlanta.
Reference: The Atlanta Wealth Building Initiative (AWBI) Building a Beloved Economy
Spending with Intention
Mercedes and Brian highlight the significance of researching where to spend y
Making The Jump To Entrepreneurship
Do you have a secret desire to venture into entrepreneurship? In this episode, we unveil stories and strategies on making the jump into entrepreneurship. Our guests Brian Cayce, Managing Director of The Roberto C. Goizueta Center for Entrepreneurship & Innovation and Andrew Rodbell, co-founder of Post Meridiem, the first line of cocktails disrupting the alcoholic ready-to-drink market in the US, share their personal insights on the process. We explore the mindset shifts required to transition from the corporate environment to the unpredictable world of startups. Get ready to uncover techniques for identifying business opportunities, building your network, and acquiring the essential skills needed to succeed as an entrepreneur.
Transitioning from Corporate to EntrepreneurshipAndrew Rodbell's journey from corporate America to entrepreneurship unfolds in this podcast episode. His post-MBA career in brand management at Coca-Cola equipped him with valuable skills, setting the stage for his entrepreneurial venture. In 2017, driven by growth potential, Andrew and a friend disrupted the ready-to-drink alcoholic category.
Mindset Shifts in EntrepreneurshipExploring the shift in mindset when moving from corporate to entrepreneurship, Andrew emphasizes newfound autonomy. He navigated decision-making independently, embraced hands-on learning, and acknowledged the emotional rollercoaster that entrepreneurship entails.
Challenges in EntrepreneurshipBrian Cayce, Director of the Center for Entrepreneurship and Innovation, discusses common challenges aspiring entrepreneurs face. Financial hurdles, including debt and the salary vs. startup income trade-off, are primary concerns. Brian recommends budgeting for a trial period and factoring in externalities like mental health and personal well-being. Brian and Andrew then go on to differentiate between high-growth and lifestyle businesses.
Key Skills for Entrepreneurial SuccessBrian elaborates on essential skills for prospective entrepreneurs. A willingness to adapt, embrace diverse tasks, and maintain a growth mindset are crucial attributes. He stresses the importance of a strong work ethic, open-mindedness, and adaptability.
Explore Funding StrategiesAndrew and Brian stress the significance of exploring diverse funding avenues for startups. Brian draws from his venture capitalist background to outline the downsides of traditional venture capital, characterized by high expectations and pressures. They advocate for various capital sources with different return profiles that align with the business vision. Andrew recounts his experience of self-funding, emphasizing the importance of de-risking investments through successful pilot phases.
Evaluating OpportunitiesAndrew and Brian underscore the importance of differentiation when evaluating business opportunities. A unique product or service can be a competitive advantage. They discuss the value of prototyping and gathering feedback from distributors, retailers, and consumers. Brian emphasizes identifying the right wave of opportunity and learning from others, even from younger generations.
Embracing FailureThe conversation shifts to the topic of failure in entrepreneurship. Brian reflects on his venture capital experience, acknowledging that most startups do fail. However, he highlights the importance of learning from these failures and establishing feedback mechanisms for continuous improvement.
Building a Network of Support and ResourcesBoth Andrew and Brian emphasize the value of networking within the startup ecosystem. Mentors, advisors, and peers can provide essential guidance and support. They encourage proactive networking and mentorship-seeking. Brian discusses the role of the Center for Entrepreneurship at Goizueta Business School in supporting students and alumni interested in entrepreneurship.
Handling Risk Aversion from Loved Ones & NaysayersAndrew addresses concerns from friends and family regarding entrepreneurship's risks. He ad
Secrets To Career Switching And Success In The Job Market
Switching careers is a pivotal journey that many professionals undertake. It's more intricate than simply landing a new job—it's a transformative process that demands strategic navigation. In this episode we uncover the secrets to career switching success with our guests, Danielle Rubenstein and Chantal McMahon. They shed light on this transformative process from different perspectives. Danielle, a senior director of career management, brings her expertise, while Chantal, a finance leader at Intuitive Surgical, shares her firsthand experiences of navigating career transitions. Together, we unveil the challenges, strategies, and invaluable insights that empower listeners to forge new career paths.
Challenges of Career Switching & The Intentional PivotThe journey of career switching is multifaceted, requiring understanding of aspirations and experience building in new domains. Self-awareness, adaptability, and deliberate intentionality are paramount. The focus lies on intentional pivots, grounded in self-assessment rather than idealized notions, fostering success.
Success Story: Chantal's Career Switching JourneyChantal's inspirational journey spans R&D and medical technologies to finance leadership. Networking, mentorship, and active exploration play pivotal roles. Embracing uncertainty, strength assessment, and continuous exploration form the bedrock of her advice.
The Power of Redefined “Networking”The mystique of networking is unveiled, redefined as relationship-building and knowledge-sharing. Overcoming being perceived as disingenuousness and fears of approaching strangers is addressed. Beyond immediate job gains, networking offers profound benefits. Practical tips and resources for enhancing networking skills are provided.
Building Resilience - Reframing Rejection and SetbacksThe emotional toll of rejection and setbacks is acknowledged yet reframed. Danielle emphasizes that rejection doesn't define an individual's worth. Chantal's journey underscores the importance of persistence and learning from rejections. The emphasis is on focusing on one's true strengths and value, while maintaining objectivity.
Leveraging Self-Reflection and Skill EvaluationChantal encourages listeners to assess their past experiences. Understanding what energizes and drains them facilitates informed career decisions. The value of deliberate self-reflection is highlighted.
Personal Branding's Complex DynamicsPersonal branding's dual nature is discussed while emphasizing the importance of conveying value and skills that align with the target role. Both guests emphasize refining one's narrative through practice and adapting the "talk track" based on feedback.
Thank you for joining us in this enlightening episode. As you navigate the intricate path of career switching, remember that each challenge is a stepping stone to growth and learning. For more insights and success stories that equip you with the tools and perspectives to flourish in your career journey, subscribe to our podcast.
Innovation in a Climate-Smart World
Last year alone, 10 climate-related disasters displaced millions of people with damages exceeding $3B. The time to act is now. Goizueta’s Wes Longhofer and Danni Dong join to discuss the role of business and innovation in a climate-smart world.
The past eight years have been the warmest on record, with sea levels are rising twice as fast as they were three decades ago. Often, when we think of innovation we think too narrowly - new technologies, products, or services. However, in tackling a problem as pervasive and complex as climate change, our approach in the business world needs to be broader, more holistic. We’ll talk today about the three pillars of business innovation in a climate-smart world:
business models, and
Wesley Longhofer is an associate professor of organization and management and the Executive Academic Director of Goizueta’s Business & Society Institute. His work on climate change has been funded by the National Science Foundation and featured in the Washington Post and Nature. His most recent co-authored book, Super Polluters: Targeting the World’s Largest Sites of Climate Disrupting Emissions, was published by Columbia University Press in 2020. Wes is also a member of the recently launched Emory Climate Research Initiative.
Danni Dong is a dual degree graduate student at Emory pursuing her MBA and MSPH at Goizueta Business School and Rollins School of Public Health. Danni is a passionate activist working to tackle climate challenge through public private partnerships. She has worked with several governmental agencies including the Atlanta Housing Authority, Environmental Protection Agency, and Centers for Disease Control and Prevention. Danni recently attended the United Nations Climate Conference in Egypt as a student ambassador with Emory Climate Talks.
This episode of the Goizueta Effect podcast was co-created in partnership with Goizueta MBA students and ClimateCAP delegates including Danni Dong, Nikhil Mathur, Jimmy John, and Peter Danis. A delegation of 11 MBA students from Goizueta Business School recently attended the ClimateCAP Global Summit. Along with hundreds of leading students and professionals from across the nation, they explored the enormous influence and responsibility business leaders hold in driving toward a climate-smart world. Want more insights? Check out #GoizuetaClimateSmart.
What is the Circular Economy?
The concept of a circular economy came about as an alternative to the traditional “take-make-waste” model. The circular economy involves designing products and systems that are efficient, durable, and easy to repair, refurbish, or recycle.
Companies like Patagonia and FairPhone have successfully implemented circular strategies, incorporating buyback programs, refurbished goods, and modular products that can be partially upgraded to lengthen their useful life. These strategies not only benefit the planet, but also create customer loyalty and competitive advantage.
First It Was Shareholder vs. Stakeholder Capitalism. Now There Are “Multi-Stakeholders”?
A newer way of thinking has come about recently, focusing on the importance of the multi-stakeholder approach in business. Central to this concept is considering the interests of all parties affected by a company's actions, including employees, customers, suppliers, communities, and the environment. Communities are demanding that companies create more value for society than they extract, and the environment is also considered a stakeholder due to the impact of climate change on businesses.
By considering multi-stakeholders, the true cost of climate change is clearer. From recent flooding in Pakistan to the longest recorded drought in Eastern Africa, it is apparent that the environment is a key stakeholder that needs to be considered. Natural disasters triggered by climate change have resulted in $3 trillion worth of economic losses between 2010 and 2020. Co
In Corporate Valuation, Customers are King
From investors to managers, business leaders need to understand the true value of companies, but many of the traditional methods are outdated and incomplete. Emory University Goizueta Business School's Professor Dan McCarthy joins to discuss customer-based corporate valuation, including the critical role customer lifetime value plays in driving a company’s success.
Ready for Career Growth? Advocates are Key!
Career advocates are critical to career growth. In fact, employees with advocates are 23% more likely to advance at work. Emory University Goizueta Business School's Professor Renée Dye joins to discuss how you can cultivate and attract influential players to meet your goals.
Some of the world’s best business minds
Can’t wait to hear from some of my faculty favorites!