Smith Sense

“I’m now 40 copies deep —buying for myself and my clients—and I’m sure that’ll 10x over the next year.” —Craig Ballantyne“The section on overcoming social anxiety… alone was worth the entire book —for anyone.” —Craig Ballantyne I sat down with my friend Craig Ballantyne to talk about The Preparation —what it is, who it’s for, and why it’s a better fourth path than college/trade school/military for...

Many of you have heard about the book we’re working on and, more importantly, my Son’s experience over the last couple of years as our beta-tester. Maxim is 19 now. He’s been working the program for two years. At some point, not long ago, I couldn’t help but notice - he’d changed. He’s learned a lot of skills. He’s become more knowledgeable about all topics - history, philosophy, and science. He’s...

Entrepreneurs tend to focus on product and marketing. The real opportunity is in distribution. Listen to the Podcast:  —  iTunes.  —  Stitcher.  —  Spotify.  —  Overcast.  —  Download. Show summary This week Antony and I discuss a topic that’s too often overlooked by entrepreneurs: distribution. Whether you’re selling beef jerky or digital services, getting your product in front of your customers...

At a time when we badly need innovation, less regulation — not more — is the answer. Listen to the Podcast:  —  iTunes.  —  Stitcher.  —  Spotify.  —  Overcast.  —  Download. The economic fallout from COVID-19 is highlighting one challenge that entrepreneurs face all time: regulation stifles innovation. Entrenched interests You don’t have to look farther than the recipient list of Paycheck Protect...

As the world crumbles, Doug Casey watches on his widescreen from Uruguay. Podcast:  —  iTunes.  —  Stitcher.  —  Spotify.  —  Overcast.  —  Download. My good friend and mentor Doug Casey joins me on the podcast again to discuss world events, politics, U.S. monetary policy, and why Fedcoin isn’t as far-fetched of an idea as it sounds. We pick up on topics we discussed in our first conversation, “ T...

Are you innovating or performing? On this week’s episode of the Smith Sense Podcast , we discuss a fascinating academic research paper that concludes the cottage industry around entrepreneurship is failing us. The paper articulates many of the fears I have about mistakes entrepreneurs might be making in their journeys. Subscribe to the Smith Sense Podcast:  —  iTunes.  —  Stitcher.  —  Spotify.  —...

If you want to influence others, you need to have a strong, well-reasoned “Frame”. My business partner and friend Gary Young joined me on the podcast to discuss “frame,” a term we use to describe someone’s point of view on the world. We discuss how entrepreneurs can hone their frame to influence and sell, and why the best salespeople tend to be introverts. Subscribe to the Smith Sense Podcast:  — ...

Royalty Exchange cofounder Gary Young joins the podcast to discuss how self-limiting ideas — our own and those of others — shape our daily reality. Subscribe to the Smith Sense Podcast:  —  iTunes.  —  Stitcher.  —  Spotify.  —  Overcast.  —  Download. How do ideas that were once unthinkable become accepted policy? In this conversation with Royalty Exchange cofounder Gary Young , we discuss the Ov...

To play an infinite game, start by defining what you stand for Subscribe to the Smith Sense Podcast:  —  iTunes.  —  Stitcher.  —  Spotify.  —  Overcast.  —  Download. In his best-selling book The Infinite Game , Simon Sinek writes that there are fundamentally two ways of interacting with the world.  In one view — the one traditionally taught in business school — the world is finite in size. In or...

How to attract talent, pick the right candidates, retain star employees and say goodbye Subscribe to the Smith Sense Podcast:   —  iTunes.  —  Stitcher.  —  Spotify.  —  Overcast.  —  Download. People are a business’s biggest asset and the thing most companies spend the vast majority of their budget on. So the question is: How do you get — and keep — the best people on the boat, when the boat is c...

Removing roadblocks where it matters is key to profitability Subscribe to the Smith Sense Podcast:  —  iTunes.  —  Stitcher.  —  Spotify.  —  Overcast.  —  Download. In a previous episode we discussed market friction, which I described as the heart of all entrepreneurial opportunity. This week we’ll discuss operational friction , which is central to profitability. Theory of constraints In the clas...

To scale a business, you need the ability to manage teams. But what is the best management system? Why are some managers better than others? And, what’s wrong with simply modeling google’s OKRs or applying Netflix’s Culture to your business? Subscribe to the Smith Sense Podcast:   —  iTunes.  —  Stitcher.  —  Spotify.  —  Overcast.  —  Download. Your management style will evolve over time, and you...

Market friction is at the heart of all entrepreneurial opportunity Subscribe to the Smith Sense Podcast:  —  iTunes.  —  Stitcher.  —  Spotify.  —  Overcast.  —  Download. Market friction is at the heart of all entrepreneurial opportunity. When you’re looking for a business idea, consider the things that keep people from doing what they want to do. The current product or service might be too time...

Get as close to your customer as possible—and create value Subscribe to the Smith Sense Podcast: — iTunes. — Stitcher. — Spotify. — Overcast. — Download. As with any business, a side hustle boils down to creating recognized value for others. When you create obvious value for someone else, you can get paid. The more value you create, the more you can make. When thinking about a new business or side...

Subscribe to the Smith Sense Podcast: — iTunes. — Stitcher. — Spotify. — Overcast. — Download. In this conversation with my friend and mentor, Doug Casey, we discuss the money system, it's history, and how it's set up to the detriment of most Americans. We talk about how the prospects for real war have increased dramatically over the last few months. And we talk about what Doug Casey's investing i...

Look closely at just about any successful enterprise and you’ll see gambits they made along the way — small bets on an unclear future that, however unlikely, would produce outsized gains if they paid off. Gambit comes from the Italian gambetto , “tripping up.” It’s a device, action or opening remark, usually with some risk, that’s calculated to gain a future advantage. When you make an opening mov...

hh Ancient philosophy stands the test of time because it works Subscribe: — iTunes. — Stitcher. — Spotify. — Overcast. — Download. The ancient Greek philosophy of Stoicism has enjoyed a resurgence in recent years, particularly among entrepreneurs, that’s only increased in the wake of a global pandemic. (The Times reports that sales spiked recently for works of two of the great Stoic philosophers,...

PR can be a great driver of new business and help you recruit talented staff — In this episode of the Smith Sense Podcast, we discuss how to make PR work for your business. Subscribe: — iTunes. — Stitcher. — Spotify. — Overcast. — Download. My views on PR have changed as I’ve learned to use it strategically for my business. Antony Bruno , our director of communications at Royalty Exchange and my c...

Entrepreneurs need to understand the mental traps —their own and that of those around them—that expose them to great risk. Subscribe: — iTunes. — Stitcher. — Spotify. — Overcast. — Download. As we’re seeing with the Covid-19 crisis, assessing risk and responding when things go wrong are critical skills for entrepreneurs. The problem is, this is very hard for us to do. We’re wired to think tomorrow...

By keeping some powder dry and building extra capacity, you’ll weather storms, make better decisions, and capitalize on opportunities  Subscribe: — iTunes. — Stitcher. — Spotify. — Overcast. — Download. One of the most irresponsible things you can do as an entrepreneur is fail to have a substantial cash buffer to withstand changes. That’s exactly the situation small businesses—and households, for...

Risks and opportunities for entrepreneurs in a Covid era Subscribe: — iTunes. — Stitcher. — Spotify. — Overcast. — Download. A lot of entrepreneurs are pondering what the “new normal” will look like when we emerge from the health crisis. They’re wondering where the opportunities may be. Just as important, they should think about the risks ahead. To gain a clearer picture of where we might be heade...

Forget trying to “Control the Narrative”.  Leading through a crisis is about taking ownership, clear communication, and talking to people like they’re adults. Subscribe: — iTunes. — Stitcher. — Spotify. — Overcast. — Download. If you look at current events, communication is being substituted for leadership. PR professionals have gotten ingrained in organizations and are muddling down messages. Whe...

As the COVID-19 crisis unfolds, a lot of businesses find themselves in a tough spot. Studies and surveys tell us that a significant number of small businesses—as many as half—have less than a month of cash on hand. It’s frightening to think that if things don’t go right for 30 days, most businesses are in serious trouble. People’s instinct is to think: “It’s too late now. There’s nothing I can do....