#48 The Art of Analogies in Business with Nancy Stiedl

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In this episode of She Is Unstoppable, host Deanna Hinsz welcomes Nancy, an international business consultant and CEO of The Business Mission. Nancy discusses her upcoming book, “The Art of Analogies in Business,” which aims to simplify complex business concepts through relatable analogies. This episode is packed with insights on how analogies can transform your understanding of business and help you navigate the entrepreneurial journey with ease.

Key Insights from the Episode

[00:00:04.080] Introduction

Deanna Hinsz introduces Nancy, expressing excitement about discussing Nancy’s new book and the power of analogies in simplifying complex business concepts.

“I love analogies because it does really simplify. It changes the way you think.”

[00:00:40.140] Nancy’s Background

Nancy shares her extensive background, including her role as CEO of The Business Mission, her expertise in AI and big data, and her journey in writing “The Art of Analogies in Business.”

“My real aim with this book is that it will give entrepreneurs a very easy understanding of how to start a business.”

[00:02:19.190] Favorite Analogy

Nancy discusses her favorite analogy from the book, comparing starting a business to having a child. She emphasizes the importance of patience and gradual growth in both scenarios.

“Starting a business is a bit like having a child. You cannot expect that this baby’s going to walk right away.”

[00:04:44.030] Managing Expectations

Deanna and Nancy discuss the unrealistic expectations many new business owners have, such as immediate success, and the importance of understanding the gradual process of building a business.

“People buy people. They don’t buy the product right away.”

[00:07:19.150] Family and Friends Support

They talk about the misconception that family and friends will be the primary supporters of a new business, likening it to assuming they will babysit your child.

“It’s your responsibility. You have to get it off the ground.”

[00:08:23.790] Planting Seeds

Nancy shares an exercise she does with her clients, making them grow a plant to understand the gradual process of business growth.

“As we are building the business, I tell them, as you put effort into your business plan, you need to water the plant.”

[00:09:26.380] Be More Like Bamboo

Nancy introduces the analogy of bamboo, which builds roots for eight years before growing 6 feet in a short time, highlighting the importance of laying a strong foundation.

“Bamboo stays in the ground and builds roots for eight years.”

[00:10:47.190] Unique Business Journeys

Nancy advises against comparing your business journey to others, emphasizing that each business grows at its own pace.

“What you can’t do is compare yourself to one business to the other.”

[00:12:41.320] Decision-Making in Business

Nancy provides an analogy to simplify decision-making in business, comparing it to watering a plant to help it grow.

“You need to trust your intuition and believe that a business is a separate entity to a business owner.”

[00:15:59.790] Business as a Separate Entity

Nancy explains the importance of viewing your business as a separate entity, guiding it rather than imposing personal expectations.

“It’s important to be connected and not attached to your business.”

[00:17:45.320] Using Analogies with Clients

Nancy shares her long-standing practice of using analogies to help clients understand complex business strategies, which inspired her to write her book.

“When I give an analogy to somebody and then they have that light bulb moment, they go, oh, that totally makes sense.”

[00:19:06.810] Working Silently

Nancy emphasizes the importance of building your business silently and steadily, likening it to constructing a house.

“You just need to work silently and scarcely in your structure.”

[00:23:41.110] Avoiding Comparisons

Deanna and Nancy discuss the pressures of social media and the importance of focusing on your own business journey.

“If you look at what your competitor’s doing in the other lane, then you’re not going to win the race.”

[00:24:27.160] How to Get Nancy’s Book

Nancy shares how listeners can preorder her book, “The Art of Analogies in Business,” on her website before its full launch in December.

“Do one thing and perfect it before you go to the next one.”

Nancy’s analogies offer a fresh perspective on understanding and managing a business. Her insights remind us of the importance of patience, steady growth, and focusing on our unique journey.

For more insights and to preorder Nancy’s book, visit her website. Stay connected with us on Instagram at @deannahinsz and @wearesheiscollective. Remember to subscribe, leave a review, and join us next week for more empowering stories and strategies. Keep striving, and stay unstoppable!