• Ep 298 | Stakeholder vs. Shareholder

  • Jan 27 2025
  • Length: 2 hrs and 3 mins
  • Podcast

Ep 298 | Stakeholder vs. Shareholder

  • Summary


  • The team discussed the key highlights from the recent January training for RFG franchisees, including:

    • Spending ~2 hours on active listening and communication skills, using interactive games to demonstrate how often people get distracted or stop listening

    • Incorporating humor and personal stories into a presentation on the importance of providing detailed estimates, with the "Top 10 Worst Estimate Requests" being a hit

    • Conducting a "blind spot" exercise where franchisees interviewed close business partners to get feedback on areas for improvement

    The group explored the nuances of building a personal brand versus a business brand on social media. Key points included:

    • Avoiding oversharing personal financial details or victories, as that can backfire and distract from the core business message

    • Positioning oneself more as a spokesperson for the contracting.com brand, rather than the individual, to maintain authenticity and focus

    • Leveraging the team's expertise and stories to create valuable content, rather than just the founder's personal narrative

    • Recognizing that a smaller but highly engaged following is often more valuable than a large but disinterested audience

    The discussion shifted to the importance of cultivating a "stakeholder" mentality rather than just optimizing for shareholder metrics like follower count. Key insights included:

    • Viewing the audience as stakeholders in the contracting.com mission, rather than just passive consumers

    • Drawing parallels to Warren Buffett and Berkshire Hathaway, where the brand and mission have outlasted the individual

    • Recognizing that some followers may actually be detrimental if they don't align with the core values and vision

    • Focusing on building a cult-like following of true believers, rather than just maximizing vanity metrics

    The group explored the potential impact of contracting.com's mission to raise industry standards, including:

    • Short-term benefits to customers but potential long-term backlash from contractors if the bar is raised too quickly

    • Risks of a "race to the bottom" as contractors try to undercut each other, leading to consolidation and capital intensity

    • The need to carefully manage the pace of change to avoid alienating the existing contractor base while still driving progress

    The meeting concluded with a recap of the key takeaways and next steps, including:

    • Amer committing to position himself more as a spokesperson for the contracting.com brand rather than just a personal brand

    • Exploring ways to leverage the team's expertise and stories to create valuable content, rather than just the founder's narrative

    • Maintaining a stakeholder-focused mindset and cultivating a highly engaged, mission-aligned audience rather than just optimizing for vanity metrics

    • Carefully managing the pace of industry disruption to avoid alienating the existing contractor base while still driving progress


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