Last week, Rock Content CEO Michael DeMonte spoke with BusinessCast Entrepreneurs Podcast about managing rapid growth, breaking into new markets and why a series of natural disasters, elections and a Royal Wedding are good for business. BusinessCast is created and produced by Robert Gold of Bennett Gold LLP and Andrew Brown of Write On The Money. Their podcasts feature interviews with entrepreneurs of small and medium-sized businesses, who are quizzed on strategy, challenges and day-to-day business issues. Listen to the entire interview here. They asked DeMonte for three key pieces of business advice. His list:
1. Know when you should pay for something. Early on there were lots of people willing to give advice. Yet when we tried to pin them down and get a meeting, the interest level wasn’t really there. When we started to get a little bit of money, we got a different level of help and involvement. There’s not a lot of people out there that will help you for free.
2. Good legal counsel. When you start getting into partnerships agreements and investors, you need people you can call and get really good advice from. And keep your personal legal advice from the corporate so you’ve got both sides of the knife covered.
3. Always be ready to change. We thought offering a free product was going to be really good for our business, but at the end it wasn’t. So we shut that down and went to a free trial product instead. You have to have that ability to change directions and adapt really quickly.