Episode 613 Strategic Business Coaching and the Entrepreneurial Mindset With Cary Prejean
Show Highlights
“The SDM Show with your host Rob Cairns,” where Cairns interviews guest Cary Prejean, a strategic business and ontological coach. The discussion centers on the challenges faced by entrepreneurs, highlighting the need for business owners to understand their financial statements and the common difficulty of entrepreneurs transitioning from visionary to effective manager. Prejean, who moved from accounting to coaching, explains that the mindset and personality traits that make one a successful entrepreneur often hinder their ability to be good managers. The conversation also explores the importance of clear vision, focused leadership, and established business processes for sustained growth, concluding with practical advice on financial health and personal well-being for business owners.
Show Notes
Episode Summary:
In this episode, Rob Cairns sits down with veteran Strategic Business Coach Cary Prejean. With over 40 years of experience, starting in the high-stakes world of “Big Eight” accounting, Cary shares his journey from reading financial statements to reading the minds of entrepreneurs.
Rob and Cary dive deep into the specific psychology that makes entrepreneurs successful founders but often difficult managers. They discuss the “Ontology of Language,” the dangers of “Shiny Object Syndrome,” and the critical importance of knowing your numbers. They also have a candid conversation about the physical toll of entrepreneurship, sharing personal stories about health scares, diabetes management, and the vital need for work-life balance.
Key Topics Covered:
- The Accountant to Coach Journey: How Cary realized that many business owners could sell their products but couldn’t read a financial statement to save their lives.
- The Entrepreneur vs. Manager Paradox: Why the skill set required to start a business is often the exact opposite of the skill set required to manage one.
- The Ontology of Language: Understanding how entrepreneurs and employees view the world through fundamentally different linguistic lenses, and how this causes friction in the workplace.
- Leadership Essentials: Cary identifies the top three traits of a good leader: Vision, the ability to “seduce” or enroll followers, and maintaining focus on the horizon.
- Shiny Object Syndrome: Why entrepreneurs get distracted easily and how to stay committed to the vision.
- Financial Health Check: A look at why Debt-to-Equity ratios matter and why you should prioritize paying off high-interest debt over expansion.
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- The Human Side of Business: A raw discussion on the toll business takes on marriages and physical health, including Rob’s personal experience with a health scare and the importance of self-care.
- AI and E-Commerce: Why you must adopt AI to survive and the benefits of the 24/7 sales cycle in e-commerce.
Memorable Quotes:
“You’re structurally designed to lose money at this… I kept showing him financial statements… but I didn’t have the vocabulary to point to him in layman’s terms and say, ‘This is what’s going on. This is going to destroy you.'” — Cary Prejean
“A good manager would not make a good entrepreneur… to the business, you’re way more valuable being a good entrepreneur.” — Cary Prejean
“Most entrepreneurs hate the numbers… If you don’t like doing it, find someone to do it. If you’re good at it and it makes you money, continue to do it.” — Rob Cairns“If you can’t take care of you, you can’t take care of the business.” — Cary Prejean
Would you like me to find the link for Alfredo’s book or provide more detail on any of the concepts he discussed, such as Psychological Capital?
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