How to persevere during rough markets with Nima Mohajeri

Show Notes: In this podcast episode, Anne and Nima discuss the economic challenges and strategies for tech companies during uncertain times. Nima, whose company is linked to Salesforce, talks about the impact of Salesforce's layoffs on his business and the broader tech industry. He shares how his company is adapting by focusing on business processes and valuing leads. The guest also reflects on his journey from solo entrepreneurship to leading a team, the importance of niching down, and the psychological shifts needed for growth. He dismisses luck in favor of hard work and clear goals, advising aspiring entrepreneurs to gain experience in key business areas. About Nima Mohajeri: Nima Mohajeri is the Company Owner, Chief Strategist, and Director of Strategic Operations of SM Innovations. Nima Mohajeri attended the University of Southern California and UC San Diego. Timestamps: Drinks and Introductions (00:00:05) The hosts discuss their drinks and make introductions. Impact of Salesforce Layoffs (00:00:51) The guest talks about the layoffs at Salesforce and the impact on his company, which is tied to Salesforce. Challenges Faced as a Salesforce Partner (00:02:01) The guest explains the challenges his company faces as a partner of Salesforce due to the layoffs. Effects of Economic Tightening (00:04:21) The guest discusses the impact of economic tightening on tech companies and their market strategies. Survival and Growth Strategies (00:08:24) The guest shares strategies for survival and growth during challenging times, emphasizing the opportunities hidden in fearful times. Business Origin Story and Entrepreneurship (00:11:13) The guest shares insights into the origin story of the company and discusses the entrepreneurial myth and business growth. Psychological Shift (00:14:54) Discussion on the psychological shift experienced while running a business and the responsibility of keeping the business afloat. Limiting Business Growth (00:15:58) The impact of trying to do everything in the business and hindering its growth by not bringing in experts. Business as a Living Organism (00:16:26) Analogies of a business as a living organism and the negative effects of overprotection and fear in business growth. Cost of Payroll (00:17:46) The fear and challenges associated with hiring employees and the impact of payroll on early-stage businesses. Advice for Starting a Business (00:18:36) Advice on not hiring until necessary and the potential limitations of freelancing in business growth. Transition from Freelancer to Company (00:19:14) The challenges and strategies involved in transitioning from a one-person show to a company with employees. Saying No to Clients (00:27:41) The challenges of saying no to clients outside of the business's niche and the impact on scaling the business. Business Processes and Automation (00:28:29) The importance of building processes, automation, and focusing on a niche market for business scalability and potential sale. The race to the bottom (00:29:33) Discussion on how focusing on expertise and value shifts the paradigm of pricing. Narrowing the focus (00:30:28) The importance of narrowing the business focus to build a brand and reputation. Valuation potential (00:30:55) Exploring the potential valuation of the business within the industry. The concept of luck (00:32:08) Debate on the role of luck in business success and personal background. Importance of clarity (00:39:13) The significance of clarity in achieving goals and overcoming conflicting ideas. Advice for the 20-year-old (00:41:08) Recommendations for aspiring entrepreneurs, emphasizing the value of learning and gaining sales experience. This podcast is produced by the team at Dillie: a marketing agency with a niche focus on beauty and personal care brands https://dilliecreative.com/

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