In this week’s Thought Sparks Podcast episode, Rita McGrath, a Columbia University Business School Professor, C-Suite strategist, business founder and best-selling author, speaks with Karla Trotman, CEO of ElectroSoft, Inc, the largest Black- and woman-owned electronics contract manufacturer in the United States, and author of “Dark, Dirty, Dangerous”. They shed light on the unique challenges that family business face and how Karla broke barriers in the manufacturing industry to lead true innovation. 00:00 Meet Karla Trotman: Manufacturing CEO & Author of "Dark, Dirty, Dangerous" 01:16 From Kitchen Table to Corporate Empire: An Accidental Manufacturing Dynasty 02:20 Why Smart Kids Reject Family Businesses (And How One Changed Her Mind) 03:20 The E-Commerce Pivot That Led Back Home: When Amazon Changed Everything 04:44 Family Business Drama: When Three Siblings Want the Same Company 08:07 The Brutal Honesty That Saved a Family Legacy 09:56 Presidential Training Wheels: Learning to Lead Alongside Your Predecessor 12:13 Breaking Into the Boys' Club: A Woman of Color's Manufacturing Journey 15:46 Busting the Manufacturing Myth: It's Not Dark, Dirty, or Dangerous Anymore 16:36 The Great American Manufacturing Mistake: How We Made Other Countries Rich 20:02 The $70K High School Graduate: When Welding Beats Wall Street 20:38 Why Parents Are Finally Coming to Their Senses About College vs. Trades 22:16 Building Submarines and Changing Lives: The Military's Manufacturing Campaign 40:09 From Windows XP to AI: The Digital Transformation That Almost Broke the Bank 43:01 You Have to Be Crazy to Be an Entrepreneur: Why Everything is a Bet 46:57 The Light Fixture Philosophy: Investing in People, Not Waste 49:02 The DEI Backlash: Why Treating People Equally Became Controversial 51:17 The Blind Spot Solution: Why Diverse Teams Win (Despite Feeling Worse) 55:31 The Wrestling Match: What It's Really Like Being the Only One in the Room 1:00:48 The Conference That Saved Her Company: Why Leaders Must Leave Their Desks 1:01:57 Doing President vs. Being President: The Real Work of Leadership Thought Sparks are the brainchild of Rita McGrath. They are insightful actions, strategic ideas, actionable suggestions and innovative approaches that help organizations and leaders master the future with less fear and more confidence. New episodes of the Thought Sparks Podcast are released every other Tuesday at 11am Eastern. Want to learn more about Rita’s ideas and hear more of her conversations with business leaders and innovators? Listen to more Thought Sparks Podcast episodes on Apple Podcasts and Spotify.Watch Thought Sparks episodes on YouTubeFollow Rita on LinkedIn, Instagram, X and Blue Sky.Connect with Rita on TikTokSign up for her Thought Sparks Newsletter on Substack. Learn more about Rita, her books and ideas at RitaMcGrath.com

In this week’s Thought Sparks Podcast episode, Rita McGrath, a Columbia University Business School Professor, C-Suite strategist, business founder and best-selling author, speaks with Sharon Price John, CEO of Build-A-Bear Workshop and author of “Stories and Heart: Unlock the Power of Personal Stories to Create a Life You Love”. This special live episode was taped at Columbia Business School, where Sharon Price John delivered a keynote as part of Columbia Women in Business’s Women’s History Month celebration. They discuss confidence, and how lack of confidence can hamper both personal and professional growth. They identify the 3 reasons for the lack of confidence – fear of failure, pursuit of perfectionism, and negative self talk – and give actionable strategies for how to overcome low self esteem. How striking the balance between confidence and competence is key to success. Thought Sparks are the brainchild of Rita McGrath. They are insightful actions, strategic ideas, actionable suggestions and innovative approaches that help organizations and leaders master the future with less fear and more confidence. New episodes of the Thought Sparks Podcast are released every other Tuesday at 11am Eastern. Want to learn more about Rita’s ideas and hear more of her conversations with business leaders and innovators? Listen to more Thought Sparks Podcast episodes on ⁠Apple Podcasts⁠ and ⁠Spotify⁠.Watch Thought Sparks episodes on ⁠YouTube⁠Follow Rita on ⁠LinkedIn⁠, ⁠Instagram⁠, ⁠X⁠ and ⁠Blue Sky⁠.Connect with Rita on ⁠TikTok⁠Sign up for her Thought Sparks Newsletter on ⁠Substack⁠. Learn more about Rita, her books and ideas at RitaMcGrath.com

In this week’s Thought Sparks Podcast episode, Rita McGrath, a Columbia University Business School Professor, C-Suite strategist, business founder and best-selling author, speaks with Lori Rosenkopf, Vice Dean of Entrepreneurship at the Wharton School of the University of Pennsylvania, and author of “Unstoppable Entrepreneurs: 7 Paths for Unleashing Successful Startups and Creating Value through Innovation”. Their conversation covers how to succeed and persist as an entrepreneur and what it takes to bring innovation to fruition, including case studies from Madison Reed, Nokia, and Square.

Key Takeaways: (Add description and time codes)

0:00 Meet Lori Rosenkopf: Author of Unstoppable Entrepreneurs

00:59 Columbia to Wharton: Two Scholars' Parallel Journeys

3:31 The Six R's That Make Entrepreneurs Truly Unstoppable

4:12 Passionate vs. Pragmatic Entrepreneurs: Two Different Paths to Success

6:55 Recombination: Why Most Successful Innovations Are 90% Familiar, 10% New

8:20 "Unstoppable" vs. "Resilient" – The Psychology Behind Entrepreneurial Persistence

10:29 Madison Reed: Disrupting the Hair Color Industry

13:38 The Bootstrapper's Advantage: Why 80% of Enterprises Avoid Outside Funding

15:36 The Shocking Truth: Only 0.5% of Businesses Take Venture Funding

19:23 Intrapreneurship: How Jackie Reese Built a Bank Inside Square

22:06 The Innovation Arms Race: How Entrepreneurs Drive Corporate Change

23:21 Nokia's Surprising Pivot: Life Beyond Consumer Phones

24:52 From Bell Labs to Co-Working Space: The Evolution of Corporate Innovation

26:28 GenHERation: How COVID Transformed a Bus Tour Into a Thriving EdTech Platform

28:48 Beyond Profit: The Cultural Value Entrepreneurs Create for Society

32:49 Technology Commercialization: Bringing Life-Changing Ideas to Market

35:41 Harlem Capital: Transforming VC Funding for Underrepresented Entrepreneurs

38:31 Search Funds: The Little-Known Path to Business Ownership

40:24 From Funeral Homes to Tech: Unexpected Acquisition Opportunities

43:46 The Real Age of Successful Founders: Why Most Entrepreneurs Aren’t 22-Year-Olds

44:48 Inside Wharton’s VentureLab: Building the Next Generation of Entrepreneurs

49:43 AI’s Impact on Jobs: Why Entrepreneurial Thinking Is More Important Than Ever

53:47 How Top Entrepreneurs Navigate Innovation: Risk Is Not an R

54:47 The Madison Reed COVID Pivot: From 12 Stores to 100+ Through Contrarian Thinking

56:09 The Next Chapter: Promoting Unstoppable Entrepreneurs and Its Message

57:52 Breaking Free: Why Entrepreneurship Can Be More Stable Than Corporate Life

Thought Sparks are the brainchild of Rita McGrath. They are insightful actions, strategic ideas, actionable suggestions and innovative approaches that help organizations and leaders master the future with less fear and more confidence.

New episodes of the Thought Sparks Podcast are released every other Tuesday at 11am Eastern.

Want to learn more about Rita’s ideas and hear more of her conversations with business leaders and innovators?

• Listen to more Thought Sparks Podcast episodes on Apple Podcasts and Spotify.

• Watch Thought Sparks episodes on YouTube

• Follow Rita on LinkedIn, Instagram, X and Blue Sky.

• Connect with Rita on TikTok

• Sign up for her Thought Sparks Newsletter on Substack.

• Learn more about Rita, her books and ideas at RitaMcGrath.com

In this week’s Thought Sparks Podcast episode, Rita McGrath, a Columbia University Business School Professor, C-Suite strategist, business founder and best-selling author, speaks with Garry Ridge, the former CEO of WD-40, and author of “Any Dumb-Ass Can Do It: Learning Moments from an Everyday CEO of a Multi-Billion-Dollar Company”. They share lessons from Garry’s 25-year tenure at WD-40 on how leaders can foster a supportive, positive workplace, and create cultures of belonging.

Key Takeaways:

00:00 Meet Garry Ridge: WD-40 Chairman Emeritus & "Dean of Dumbassery"

01:19 Business as a Force for Good: Creating Cultures Where People Go Home Happy

02:29 “Smart Alec” the Doll: Identifying Soul-Sucking Leadership Behaviors

03:19 The Tribal Concept: Why "Belonging" Is the Foundation of Great Organizations

06:56 The Maniac Pledge: Eliminating the Finger-Pointing Disease in Organizations

11:26 "I Hate the Word Manager": Why Coaching Beats Management Every Time

13:53 Learning Moments vs. Failures: Building Psychological Safety in Your Team

18:13 WD-40's Origin Story: How 39 Failed Attempts Led to a Global Brand

19:59 Beyond Squeaks: Why Your Product Isn't Your Purpose

22:32 Values as Decision-Making Tools: How Hierarchical Values Empower Employees

24:41 The $4 Million Decision: How Values Protected WD-40 from a Toxic Opportunity

30:36 Market Research in China: How Curiosity Transformed a Failed Product Launch

33:41 "Don't Understand? Get Curious!": How to Identify Your Customers' Real Needs

36:09 From CEO to "Refirement": Planning Your Leadership Exit with Purpose

40:33 Leading Through Uncertainty: Six Principles for Navigating Crisis

43:31 The Leadership Risk: Why Absorbing Uncertainty Is Your Most Important Job

49:47 The Remote Work Dilemma: Why In-Person Connection Drives Innovation

55:06 "97% of My Assets Drive Out the Gate": Treating People as Your Greatest Value

Thought Sparks are the brainchild of Rita McGrath. They are insightful actions, strategic ideas, actionable suggestions and innovative approaches that help organizations and leaders master the future with less fear and more confidence.

New episodes of the Thought Sparks Podcast are released every other Tuesday at 11am Eastern. Want to learn more about Rita’s ideas and hear more of her conversations with business leaders and innovators?

Listen to more Thought Sparks Podcast episodes on Apple Podcasts and Spotify.

Watch Thought Sparks episodes on YouTubeFollow Rita on LinkedIn, Instagram, X and Blue Sky.

Connect with Rita on TikTokSign up for her Thought Sparks Newsletter on Substack.

Learn more about Rita, her books and ideas at RitaMcGrath.com

In this week’s Thought Sparks Podcast episode, Rita McGrath, a Columbia University Business School Professor, C-Suite strategist, business founder and best-selling author, speaks with Steve Mandell, founder of party goods retail giant Party City.

With recent headlines about Party City’s bankruptcy after nearly 40 years in business, they discuss Steve’s journey to founding the company, including the passion, hard work, and attention to detail that established Party City as a powerhouse. They discuss the future of retail, as online shopping continues to dominate over brick-and-mortar stores, and the impact of US tariffs remains to be seen.

Key Takeaways: (Add description and time codes)

00:00 Meet Steve Mandell: Party City Founder & Serial Entrepreneur

00:55 The Birth of Party City: One Store and a Simple Dream

02:59 From Brooklyn Street Corner to Retail Empire: Steve's Entrepreneurial Roots

04:09 Retail is Detail: The Obsession That Built an Empire

06:10 Listening to the Customer: The Secret to Party City's Evolution

08:30 The Revolutionary Picture Wall That Experts Called 'Crazy'

11:31 Accidental Franchising: The Surprise Visitor That Changed Everything

13:14 Three Times the Expected Sales: The First Day That Proved the Concept

15:40 The Entrepreneur's Mindset: 'What Are We Going to Do for an Encore?'

19:56 The Vendor Connection: Creating a Retail Category Together

21:17 Culture Through Mentorship: The Sam and Joe Story

23:55 The Secret Hiring Formula: Three Traits of Exceptional Performers

28:11 Culture of Caring: The Human Touch Behind Business Success

30:16 When Success Turns to Crisis: The Audit That Changed Everything

34:29 'Don't Run the Business for Wall Street': The Advice That Guided Party City

35:14 The Model That Couldn't Be Killed: Party City's Lasting Legacy

38:19 Reinvention: From Party Stores to Online Costume Empire

41:54 Hurricane Sandy and the Warehouse Under Water: When Nature Forces Change

43:20 The Entrepreneur's Idea Inventory: How Opportunities Take Shape

45:05 The Cookie Wall: Bringing Retail Innovation to E-Commerce

48:59 Solving the Hard Problems: Why Difficult Industries Create Opportunities

51:03 'I Don't Like It, I LOVE It': Passion as the Ultimate Driver

51:58 No Free Rides: Advice for Young Entrepreneurs

56:13 The Mandell Formula for Success: Luck, Luck, and Getting Off the Couch

57:38 Incrediblecookies.com: The Next Chapter of Retail Innovation

Thought Sparks are the brainchild of Rita McGrath. They are insightful actions, strategic ideas, actionable suggestions and innovative approaches that help organizations and leaders master the future with less fear and more confidence.

New episodes of the Thought Sparks Podcast are released every other Tuesday at 11am Eastern.

Want to learn more about Rita’s ideas and hear more of her conversations with business leaders and innovators?

• Listen to more Thought Sparks Podcast episodes on Apple Podcasts and Spotify.

• Watch Thought Sparks episodes on YouTube

• Follow Rita on LinkedIn, Instagram, X and Blue Sky.

• Connect with Rita on TikTok

• Sign up for her Thought Sparks Newsletter on Substack.

• Learn more about Rita, her books and ideas at RitaMcGrath.com

When should you stay the course in life, and when should you shift with changing tides? This week, we bring you case studies from the world of business to explore the science of inflection points — changes that dramatically transform the course of events. Researcher Rita McGrath of Columbia University explains why we fail to see impending moments of upheaval, and what we can do to be more adept at spotting them.

What you’ll learn from this week’s episode:

• The definition of an inflection point, and how to identify it in your own professional or personal life.
• The four stages of inflection points, and how to take advantage of them.
• The warning signs that an inflection point might be passing you by.

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  Originally published by Hidden Brain https://hiddenbrain.org/podcast/when-to-pivot/