The Finance Bible
The Finance Bible podcast is your ultimate resource for financial freedom, personal growth, and business success. Hosted by Zeke Guenthroth and Oscar Don, this podcast is designed to help you achieve your goals through actionable insights, expert advice, and practical strategies.
Each week, we bring you fresh episodes packed with valuable tips on a wide range of topics, including investing, property investment, saving, budgeting, shares, cryptocurrency, inflation, interest rates, wealth building, and debt management. But that’s not all—we also dive deep into personal growth strategies and business success tips, helping you develop the mindset and skills needed to thrive in every area of your life.
Whether you’re just starting your financial journey, working to grow your business, or striving to improve personally, The Finance Bible equips you with the tools to create lasting success. It’s more than a podcast—it’s your guide to building a better future.
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The information provided in this podcast is general in nature and does not constitute personal financial advice. It does not take into account your individual objectives, financial situation, or needs. Always consider whether the information is appropriate to your circumstances and seek advice from a qualified professional if needed.
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The Finance Bible
#88 Workplace Red Flags - Part 3
Are outdated business practices holding your company back? Discover how to break free from the past and embrace the future with cutting-edge communication tools and strategies. In this episode of the Finance Bible Podcast, we explore the necessity of modernising business methods to stay competitive, highlighting the pitfalls of relying on antiquated technologies like fax machines. Learn how adopting tools like email, Google Chat, and social media platforms can revolutionise your marketing and customer engagement efforts. We also emphasise the importance of having an up-to-date website to boost your SEO rankings and leave a stellar impression on potential clients. Plus, get invaluable tips on asking insightful questions during job interviews to gauge a company's adaptability, especially in the wake of challenges like COVID-19.
Ever wondered if micromanagement is harming your workplace? This episode sheds light on the damaging effects of micromanagement and how to identify toxic managerial behaviours. From scenarios where employees are forced to do their manager's work to the unnecessary scrutiny over minor delays, we break down why such practices are counterproductive, particularly in roles that thrive on autonomy like sales and administrative jobs. We discuss the misplaced acceptance of micromanagement in data-driven environments like call centres and argue for a more trusting approach. Tune in to learn why daily recap emails might be stifling your team's efficiency and discover strategies to foster a more trusting, productive workplace environment.
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The advice shared on The Finance Bible is general in nature and does not consider your individual circumstances. The Finance Bible exists purely for educational / entertainment purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs.
Welcome back to another episode of the Finance Bible Podcast. Zeke here and your co-host, oscar. But before we get into it, please note that nothing in this podcast should ever be considered as personal financial advice. Of course, if that is what you are seeking, reach out. We'll get you in touch with the correct professionals. Get the job done properly, sit back, relax and enjoy the show. Let's get into it. Yeah, that is true.
Speaker 1:If you're going into a business and they're in the dinosaur age and they're still, you know, everything's paper, only no digital, like, oh, who was it? I'm trying to think there was a. Um, well, there was a company, was it? Yeah, there was a huge company, like international company, one of the biggest, like everyone. Oh, what was it? And the bloke who was running it, up until literally like a couple of years ago, still would only communicate by facts. Really, yeah, if you wanted anything from him, it was facts and that's it. Yeah, oh, I'm trying to think what it was now. Yeah, if you're, if you're, stuck in a company like that, then that's a bit of chaos. Oh, that's trouble, especially if you're like a marketing, if you're hired as a marketing consultant there or in the marketing team, like you're trying to like you're. You're young girl, so you, you know what's good and what needs to work, but your boss is just not allowing it. So it's like, well, you're not the right place, because if you're not getting heard or listened and getting what you're paid to do and they're not listening to you, what's the point? No point at all, yeah, and how's the business going to progress? And how are you, as an employee, going to progress in in that sort of situation? You just won't Like. Yeah, emails now, and Calendly even. Or having communication things like Skype and Slack, or even just Google Chat Google Chat, I do like Google Chat. Things like that are literally essential to business. Now, facebook Instagram yeah, facebook Instagram, especially for running ads yeah, that is like the main. Instagram. Yeah, Facebook Instagram, especially for running ads yeah, that is like the main Even TikTok for some, depending on what your business is.
Speaker 1:Yeah, a lot of people still don't even have websites. Yeah, the websites is a big factor. Even if you do have a website, but it's so dated you've got to update it because your competitors are getting new, modern websites with 20, 30 plus different pages, which is rigs seo, yeah, so if people are trying to, you know, let's just type in for us, for example, like property investment, into google and your website's not up to date, well then, your name's not going to pop up in the first 50. Yeah, 50 searches not going to pop up in the first 50. Yeah, 50 searches not going to pop up, yeah. And then you've got like with that.
Speaker 1:We're at the age now in the world where everyone just looks at everything. If you do any form of business, I guarantee you if a client's going to come on board, they're looking you up. They're looking at what you've got available, what resources you've got, looking at your LinkedIn to see how long you've been in the role for what your competitors have. And if they go on one website and go, oh wow, this is a nice website. And they go on yours and they go what the heck? Or you don't have one, yeah. Or even just as simple as like they're trying to get in touch with you and you don't have a team, or you know it takes you five days to get back through email. Or imagine the limitation if they're trying to get in touch and you say facts. Only I've never said facts, I don't even know. No, I don't even know that. But yeah, no, that's just evolve with the times. It's not hard, it's not hard. And if you don't know where to start, I'm sure you've got a young family member or a niece, nephew, grandkids, um, or even friends who you can just ask because they're on their phone literally 23 to 24 hours a day, non-stop, just scrolling on tiktok, instagram, snapchat, just everything, and they'd be getting thousands of ads served to them every day as well. Yeah, without them even realizing so far.
Speaker 1:If you're a uh, an employee in a company and any of these make sense and you're going, wow, I might not be where I want to be. Or you're going for a job and the interview process is bad, or you might be asking these questions in the interview. How are we good to ask these questions? Have you adapted in the last? You know, since COVID, what's changed in the business? And they're going to love you asking that question. By the way, you love getting asked that, wouldn't you? If I'm a business owner and I'm well, if I'm interviewing someone and they hit me up with oh mate, how is your business adapted, like through COVID, and things like what changes have you implemented, then you're going to be like, wow, this person's actually got a brain. You know they're not just here for the robotic interview process, they're actually thinking and like asking questions. That's another thing.
Speaker 1:Back to the interview. Sorry to go back when they ask you if you have any questions and this is just a tip for interview process, like it shouldn't even be in this podcast but when they ask you do you have any questions, don't just go no, or when will I hear back? Always have a couple of questions. Yeah, what's the pay is the worst one? Yeah, just hit them up with like just simple questions that you actually would know or that would benefit you in making decisions of if you want to work there, or that even might give you an upper hand in the thing.
Speaker 1:For example, asking about what, what adaptive changes have had to make since covid or during covid or as recent enough. You can even just ask how did you guys go during covid? You know, was there a downturn? What's happened with the staff? Or like just something that makes you like stand out from the rest or seem to care about the business, because, yeah, a lot of other applicants will probably just ask for the pay, work hours, and then all say no, no other questions. In about 60 interviews I've had zero people ask anything about the actual business. That's shocking, it's's crazy, it's not good. But yeah, other red flags. Well, I mean, we've talked about management in terms of communication, but I want to talk about management in terms of actual capability of getting the job done.
Speaker 1:But if you find yourself always having to do the work for the manager or explain to the manager what's going on or or something, that it's probably a clear indication that they should not be in that position. Or even if you know you're yeah, let's just say let's do more of a physical job. Like you might be in the trades, you might be in the mines, you might be even like a PT or something, and you know one of the. You're an employee, you're dealing with a client, or you're dealing with a job, or you're dealing with a task and there's a complication, like you know, if it's physical, it might be that the angle of something's not going to work due to some kind of reason. Or it might be that if you dig out this certain thing, then you know it's going to cause issues over here because the pressure will change, or whatever. Or even in teaching it might be.
Speaker 1:You know that you need to explain something, a certain way to help get the point across, because the class aren't understanding the way you're doing it. You need to do it another way. But you've obviously got to ask about changing it and how you're going to get away with it and all of these things. You're doing them and talking to the manager about them. They're just kind of dumbfounded, like what do you, what are you saying or what do you mean, or whatever, and they just give you like a cookie-cutter answer.
Speaker 1:At that point in time I'd be getting out of there straight away, I bet. Nah, this person should not be doing what they're doing. If they're in that position, then what hope do I have, literally? But if you actually, before I go on to that, do you have have any more red flags to bring up? No, I think I jotted them all down like micromanaging oh, micromanaging, that's a big one. That's probably the last one I want to throw out.
Speaker 1:Yes, let's talk about micromanaging. Micromanaging is an absolute joke. If you're getting micromanaged in any workplace or any job you've had, that is the ultimate toxic red flag, I think Like the ultimate toxic red flag. I think Like if you get micromanaged leave, we've been in a workplace and the director's actually told someone he's micromanaging them, like he's actually said to them I'm micromanaging you. On Monday, going forward, and he brings out a book and says the micromanaging book. It's funny looking back. But, geez, get out of there. You can't be micromanaged. It's an absolute joke.
Speaker 1:Yeah, and it's a hard one as well, because there's some like micromanagement in some roles is like semi-acceptable but it needs to be like to an extent, right. So micromanagement in like, let's just say micromanagement, core sector, they are micromanagement like everything. Yeah, everything is done, so like bang bang, bang. That the micromanagement there is sort of acceptable because it is actually statistical and numbers based and it makes sense like you got to do this, you got to do that. But where it becomes unacceptable there is if you're 30 seconds or one minute or two minutes or three minutes delayed on something and then you're getting warnings about it. That's where micromanagement there is not acceptable.
Speaker 1:The micromanagement that we're talking about is more just in your role that's like a salary sales job, yeah, yeah, just any other job where it's not like the the call center is the exception. There's probably other jobs like it where it's so data driven that it has to be micromanaged. But we're talking roles that are more like, um, you know, maybe even just admin. You just got a few emails to get through. You got to do this, got to do that. You got to take calls and your boss or your manager or someone is coming over. Oh, what have you got done today? What emails have you sent? Doing that every couple of hours yeah, what are you working on? What's going on here? What are you working on? Yeah, what's that phone call about? Yeah, who are you speaking to? Yeah, who are you speaking to?
Speaker 1:Like, things like that is when it's out of hand and that's proper micromanagement. And the minute that starts happening, get out of there because that's not okay. It's not okay. Yeah, such a funny one to talk about, such a strange concept that it's actually a thing in today's day and age. It is, it's weird, it's just bizarre, especially as a manager or a business owner.
Speaker 1:Like doing that to a staff member like you, just feel I'd feel awkward and embarrassed. Slash, you don't really want to know. Yeah, like you, put your trust in them to do the job. You don't need to find out what's happening every hour. Yeah, if they're getting the job done, they're getting the job done. Yeah. And if they're not getting the job done. You'll find out sooner rather than later with the, with the results. Yeah, and you can. You can manage in a way that's still managing, but it's just not so micro. Another one's like getting asked to after every single day, before you go home, to write a recap of what you've completed throughout the day and send it to the manager. Yeah, places still do that. Yeah, so today, tuesday the 14th, I completed dot dot, dot, dot dot. Tomorrow I will do dot, dot, dot, dot dot.
Speaker 1:It's like what, yes, what, unless that's something you're doing for yourself in terms of so you know what you've done and what you need to do, like kind of keeping a checklist. Like you and I, we, we don't micromanage each other, but we, we check in with each other quite a bit. It's different, though, because we're both running the same business. Yeah, if we had staff members, it'd be. We wouldn't be micromanaging them. Yeah, and micromanage in a way where you don't micromanage actively.
Speaker 1:It's not hard as a company to set up a meeting to talk about what's being done, have a meeting with a checklist of points that need to get done. Hey guys, we've got to work on this. Where's this up to? How are we going on this? Who's taking care of it and stuff like that, sort of like a pipeline process, pipelines, great, great meetings, yeah. Micromanaging is so unnecessary and if that's happening, you know, is it from your perspective as an employee.
Speaker 1:You also need to kind of go. Well, is this guy or chick or whatever manager just a twat and like rude and like obnoxious? Or do they actually just think I'm hopeless? Yeah, and then think about it, like, if you're not getting valued and you don't, if people don't respect you and think you're actually good at your job, well then, that's another good indicator. Just to jump ship and leave, yeah, absolutely, because what's the? Well then, that's a another good indicator. Just to jump ship and leave, yeah, absolutely, because what's the point of being there if no one respects you? Yeah. And then the if we're done with points now of red flags, which is plenty of which we just discovered, how do you get out of that? How do you get out of that situation? Well, I think you've just got to. You've just got to make, make the leap and just decide that you're better than that. You deserve, you deserve more, you deserve respect.
Speaker 1:A place which actually, you know, doesn't market, manage you, a place which actually respects and takes your work to the to the highest point, yeah, or help you get to your goals, or, yeah, somewhere which can actually give you guidance and even like mentorship, because, end of the day, if you're, you're working in a in a certain industry because you love that industry and one day you may want to have your own company in that industry. So if a manager in that job can help you get to where you want to be, at the end of the day, that's a lot different to a manager who's checking in 10 times a day what you're doing and not going to help you overall. Yeah, you literally need to just go and turn your workplace from a negative to a positive. As Mr Worldwide would say. Those are your favourites. A quick stat to throw out there, actually, just on, you know, taking that risk getting out of there, going and doing whatever you want, whether it be, you know, starting your own company or working for a different company. Taking that risk getting out of there, going and doing whatever you want, whether it be, you know, starting your own company or working for a different company, changing industries, while you've got a family, you know you're worried. You've got to take care of this. You've got to take care of that.
Speaker 1:One of the, as Ali G says, one of the greatest chefs in the world Colonel himself. How many times do you think his recipe got turned down before he created Kentucky 50.? I learned from Pitbull the other day 1,007. Really, it took 1,007 no's for him to finally get authorised. And now look, and now look, yeah, so Just take a risk. So many good stories out there like that. That's crazy. I love those stories. That's actually crazy. Yeah, 1,007. Getting told no once hurts. Yeah, 1,007 times, 1,006 times. Yeah, literally. So, yeah, just take a risk. Go. Yeah, you got to take a risk At the time a bit scary, jumping ship and leaving a job.
Speaker 1:But I guarantee the day you do it you will feel so light and fresh. I still remember the first day we did it and the morning of it was just like, ah, a bit scary, don't have a job, or maybe find a job while you're thinking about quitting so you can move straight away. If you're in a position where you've got a family, like taking that risk is a risk, or if you've got a very different this and that and the other, but you just, you know, get job interviews when you're at home or on the weekends if you're still in a role you don't want to be in right now, or call in sick while you do the interview. Yeah, just do something. You might have to screw the employer a little bit to get it done. By screw the employer, I mean stuff them over, not literally. What are you going to say? What are you on about? Oh, no, but yeah, no, just take that risk. The biggest risk you ever take is the one you don't take. No, that's my favorite quote. We'll just leave it at that. We'll leave it at that.
Speaker 1:Go back to the, the risk-taking podcast. Um, have a listen to that in the show notes a while ago. And, yeah, we'll have a good morning afternoon all night. We'll catch you all next time. Ciao, we hope you enjoyed the episode. As always, you know exactly what to do. Hit that follow button, subscribe whatever platform you listen to this podcast on. Also share it to friends, families, co-workers, whoever you think may benefit from it. But uh, unfortunately it's the end and we'll see you next week.
