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Ensuring your employees are aware of their value is more important than ever. On this episode of “The Heartbeat of Main Street,” Chris Brogan shares how small business owners can help inspire and motivate employees to increase retention.




“The Heartbeat of Main Street” delivers timely insights tailored to the needs of small business owners and entrepreneurs. Featuring a rotating line-up of small business experts and industry leaders – and covering a range of topics – each episode explores the trends that have an impact on revenue creation for small business owners.


The series is hosted by ForbesBooks, and more information can be accessed through a dedicated home page. New episodes will appear regularly on the Small Business Community podcast page. Be sure to check back often – so you don’t miss a beat.


Narrator:                    Welcome to “The Heartbeat of Main Street” with ForbesBooks at and Bank of America at And here's your host, Gregg Stebben.


Gregg Stebben:         Welcome to “The Heartbeat of Main Street” with ForbesBooks and Bank of America. I'm here with Chris Brogan. He's an author, keynote speaker and business advisor. He's also the president of Chris Brogan Media at offer business and marketing advisory help for mid-to-larger-size companies. If you're not a big company, Chris also has a company called Owner Media Group at Owner.Media. That's where he helps small business owners through classes and webinars. Chris, welcome.


Chris Brogan:             Thank you so much. Glad to be here.


Gregg Stebben:         Chris, I want to talk to you today about how to bring out the best in your employees. Before we go there, I want to point out that your upcoming book, you've written one book which is a New York Times bestseller — it's called Trust Agents— but your upcoming book, your 10th book, is called Dented: Retrofitting Humans for the Modern Digital Age. You also post a lot of posts on Twitter using #Dented. Your Twitter account is @chrisbrogan.


                                   I want to talk about how do we bring out the best in our employees. This is more important than it's ever been. Is this also a big focus of your upcoming book Dented?


Chris Brogan:             It is. One of the ways that I'm looking at modern business is that, at least in the west, and at least with the kinds of the companies that I've been working with, there's a lot of situation where unemployment's at a very, very low level right now. Retention is a lot more important than ever before. However, at the same time, there's a lot of stuff going on that's challenging to businesses.


                                   For instance, I'm seeing that there's a lot of trouble with presenteeism, meaning people disengaged. That's costing companies up to $550 billion a year. People come to work, they're doing their job, but they're also thinking about the fact that a family member is dealing with an addiction problem, or they're dealing with the mental health challenge of depression or something like that.


                                   My work in this space, what I'm trying to do is ... Some of this is coming from the hectic side of all this digital stuff coming at us. Some of it's just coming from work and life are not in balance, and they're not supposed to be, but there needs to be a new fit there. What I'm looking to do is, how do I help companies, employees, executives, everyone, how to help them figure out how to bring their whole self to the interactions that they need to have? What are we going to do to connect, interact, and belong at the level that we need to?


Gregg Stebben:         You're asking a lot of questions there. I'm hoping we can transition to the idea that you might have some tips to help us do that. What kinds of things should we be thinking about doing to inspire and motivate our employees?


Chris Brogan:            Well, I'll back it up a little. One thing I'd say is that humans in general have one great need more than any other. Stephen Covey talked about this a billion years ago in The Seven Habits of Highly Effective People. He said humankind's greatest need was the need to feel wanted.I would even go a layer easier than that, and say to feel seen and understood.


                                  I think that more so than ever before, there's so much distraction. I'm looking at how do companies work with their employees to develop them a little bit more. How do employers work with their teams to say, "I see you. I understand what's going on with you. Let's make this environment work best for what's going on in your world."


                                   Then in the meantime, I think that companies need to have five things that they're working on a lot more often, even if they hide this inside of other language, if they need to. Resilience. How much are people able to withstand a bad situation happening or a negative situation, and then get back on station, so to speak. How do they get back to work?


                                   Clarity. You'll have time to try to sort through stuff. The level of people who are expert communicators is much lower than the level of people who need to communicate these days. I think some skill there needs to happen.


                                  Systems. One thing we tend to do a lot as leaders and employers, we tend to believe that there's a whole bunch of knowledge inbred into the people that we've hired in. You should know that already…that anyone, blah, blah, blah. That's the sort of language that comes out, but those systems don't exist, or they're not as explicit as they need to be. We need to retouch on that.


                                  Confidence. It is amazing how many opportunities exist overall to have your confidence mashed down over and over again. So can we build in ways to work on people's confidence, develop their confidence, etc.?


                                  Then I talked a little bit about this when I said clarity, but communications in general, we need to really train everybody in that organization how to do things like give feedback, how to do things like do effective brainstorming when you're doing collaboration work and whatnot, and how to really make sure that we're speaking to the variety of humans that could be there. We tend to get a lot more homogenous in our view and talk to everyone, but the world doesn't really react to that well.


                                  Those five things, resilience, clarity, systems, confidence and communication, I think are part of a core operating system for helping leaders and their employees work better.


Gregg Stebben:         I think part of what you're saying here is that in today's world, where we have what many are calling a war for talent, employers need to be more aware than ever of the value of the employees they have, not lose them, that's retention, and also understand that making your employees feel valued will make it easier for you to attract more employees, including the friends and associates of the valued employees you already have. Am I summarizing that well?


Chris Brogan:            Oh, very well. There are stats like that. Employees who feel their voices are heard at work are 4.6 times more likely to feel empowered to perform their best work. By the way, I think this stat I'm going to read to you is the least shocking stat you could ever hear. Ninety-six percent of employees believe that showing empathy is an important way to advance employee retention. I'm wondering who the 4% were, but you know. That's something I read. Eighty-nine percent of workers at companies that support wellbeing initiatives are more likely to recommend that company as a good place to work.


                                  These numbers matter. There's math to this. There's money to this, but for so many years and still ongoing, we call this stuff the soft skills, which is silly. This is everything. There are almost no real factory jobs. There are almost no real, we don't care who sits in that chair, just pull the lever when the light turns blue. That doesn't exist anymore.


                                   I know that's a threat to some people, who would just rather people shut up and do their dumb job, but it's really not ... If you're going to make a company that's thriving, you're not going to get away with it using that methodology.


Gregg Stebben:         I want to ask you about one other type of employee, Chris. I'm talking with Chris Brogan. He's an author, keynote speaker and business advisor. He's at He's on Twitter @chrisbrogan. He's the author of nine books, including the New York Times bestseller Trust Agents. His 10th book is upcoming. It's called Dented, Retrofitting Humans for the Modern Digital Age.


                                  I'm coming back to Dented, because I want to ask you about one type of employee that I think every business owner has had. This is somebody who does a great job, but is shy or introverted, and you believe as a business owner that you could help them transform themselves, frankly, but also bring so much more to the company if you could help them bring themselves out of that introverted state. Do you have ideas for how we can encourage someone to become even greater at using the skills and experience and thoughts that they already have, when they're shy or introverted?


Chris Brogan:            I love the question, because I want to say at the front of it, one really difficult challenge for extroverted people is they think, "Well, actually, that's where you should be. You should be out like me."


Gregg Stebben:        Yeah, that's me. I'm the guy asking the question and that's me.


Chris Brogan:            Yeah. I hear you. The challenge there is that some people were born to be stage hands. Some people love painting the set, and hoisting the fake rainbow up and over the picture at the right moment during the school play. Other people, like my oldest son, love to wear glitter and sequins, and scream as loud as he can every line in his play.


                                   We need both. I would say that instead of how do we make an introvert more extroverted, the question is how do we mine those deep waters, because there's just so much value in there.


                                   To me, one way to do that is to encourage other means of communication and interaction. They're the kind of people you could say, "Hey. Can you write a little report?" or, "Hey. Are you up for sharing a quick five bullets every now and again?" There's always ways to get people a step or two into sharing what they know.


                                   One thing that helps really introverted people a lot are confidence building opportunities. I think that one missing piece of work that anybody who owns a business could learn something from those time wasting video games that I love so much, is that games have stages and levels and checkpoints. Work doesn't. I would say the one cool way to work with introverts is to say, "Here's what level one of interacting looks like." "Here's what level two looks like." "Can we get some more interaction here?" If I built this person's confidence, what would that look like? What would feel rewarding to that person for sharing? Then you start to see how you could design something.


                                  When I work with executives to design better ways to lead their people, or to tune up their leadership, one of the things I'm looking for is that. Are there more breaks that we can stick in, are there more checkpoints and systems? Specific to introverts, I think that's the method is get smaller bites, but get lots of those bites. Make it a nice tapas meal, and then you get their value.


Gregg Stebben:         I really like the analogies there, tapas meals, and to the levels or leveling up in gaming. He is Chris Brogan. His company is Chris Brogan Media at He's also the owner of Owner Media Group for small business owners, where they offer classes and webinars. Owner Media Group is at Owner.Media. You can also follow Chris on Twitter, like I do, @chrisbrogan. His New York Times bestselling book, Trust Agents was one of his nine books. His 10th book is coming. It's called Dented: Retrofitting Humans for the Modern Digital Age.


                                  Chris, in addition to your website, are there other places people can go to learn more about you, or are there things on your website you would point us to that can offer great value?


Chris Brogan:   works well. If you get there, there's a newsletter that will pop up and bother you. That's my best thing I do every single week. If you found this interesting, grab that newsletter. You can always hit reply to me directly from there, and we can chit chat.


Gregg Stebben:         That's great. For more great tips from Chris and other small business experts, check out Bank of America's online Small Business Community. It's at


                                   Chris, thanks so much for joining us.


Chris Brogan:             My pleasure. Thank you.


Narrator:                     Thanks for listening to “The Heartbeat of Main Street” with ForbesBooks at and Bank of America at


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A bank loan is a great way to help entrepreneurs start growing their own business. On this episode of “The Heartbeat of Main Street,” Steve Strauss shares six steps to successfully obtaining a small business loan.




“The Heartbeat of Main Street” delivers timely insights tailored to the needs of small business owners and entrepreneurs. Featuring a rotating line-up of small business experts and industry leaders – and covering a range of topics – each episode explores the trends that have an impact on revenue creation for small business owners.


The series is hosted by ForbesBooks, and more information can be accessed through a dedicated home page. New episodes will appear regularly on the Small Business Community podcast page. Be sure to check back often – so you don’t miss a beat.




Narrator:                    Welcome to “The Heartbeat of Main Street” with ForbesBooks at and Bank of America at Here’s your host, Gregg Stebben.


Gregg Stebben:         Welcome to “The Heartbeat of Main Street,” brought to you by ForbesBooks and Bank of America. Steve Strauss joins us to talk about six essential steps for getting a business loan. Steve is USA Today's small business columnist and also the author of 17 books, including the best-selling Small Business Bible. Steve, thank you for joining us.


Steve Strauss:           Gregg, great to be here. Thanks for having me.


Gregg Stebben:         This is obviously an essential topic, how to get a small business loan. You are, as I mentioned, USA Today's small business columnist. You're also a Small Business Community influencer for Bank of America, and you talk to a lot of small business owners and I suspect that questions about how to get a loan is often one of the things they ask you.


Steve Strauss:           You bet. In fact, a couple years ago I even wrote a book on this very subject called Get Your Business Funded, because the good news is there are really a lot of different ways to get the money that you need for your business.


                                  The best and most obvious is to get a bank loan, as we're going to talk about today, but there are others like crowdfunding and microfinance, even business-owned competitions that people aren't as aware of. But the good news is, there is money out there for you to start running and grow your business.


Gregg Stebben:         So, of these first six steps, what's number one?


Steve Strauss:           Number one is you want to create a relationship with your banker before you ever go get a loan. In fact, what I really want people to know is banks want to lend to you. They want to lend to you. That's their job. That's their business. That's their business model.


                                  So, your job is to make their job easier, and the first way to do that is as I said: create a relationship with your banker. So before you ever go into the bank with your loan package, instead go into the bank and meet your small business banker.



                                  For example, Bank of America, who I do a lot of work with, who you mentioned, a couple years ago hired more than 1,000 small business bankers, and they're there to help you understand the banking process, understand the loan process, and understand what your loan package needs to have and how your business needs to look in order for you to get the funding that you need.



Gregg Stebben:         I think what you said about it being the business of business banking to make loans is a really important point to make, because I think sometimes people feel like it takes luck to get a loan, but they're actually in the business of doing it, and that's an important thing to remember. So that's step number one. What's step number two?


Steve Strauss:           Step number two is to understand how much money you need realistically. It's kind of like Goldilocks' porridge. You don't want it to be too little because then you're going to end up with a capital crunch before you even start. You don't want it to be too much because the banker who is well-versed in finances and books and spreadsheets will understand that you're asking for too much money and that's not what you want to do.


                                  So you really need to think thoroughly through what it is you're trying to do, how much money you need to do what it is you want to do, and then go in with a loan package to ask for that proper amount.


Gregg Stebben:         So, I've done that. What is step number three?


Steve Strauss:           Number three is to get your personal credit in order. It going to be very unlikely that you're going to be able to go in and just on the basis of your business get a business loan, at least if you're fairly new to business. Often a bank is going to want to see a personal guarantee on the part of the principal, and so you want to make sure that your personal credit score is about 700, that your debt to income ratio isn't out of whack, that you have a great credit history, that you have a history of paying your debt back in time, on time, and in full.



                                   They're also going to want to know how long you've been in business and what your cash flow is like. But make sure that you get your personal credit in order so that if you need to give a personal guarantee or if you need to give collateral even you can do both of those things.


Gregg Stebben:         We're talking with Steve Strauss about the six steps to get a small business loan. Steve, what is step number four?


Steve Strauss:           Step number four is the one that we kind of talked about at the beginning. Now get your loan package ready. You've met with the banker, you know how much money you need, you have your credit in order, then you do number four, which is prepare your loan package.


                                  You have to include your financials, projections, a business plan, leases, contracts, personal financial information. You're going to put all of that together in a package that you're going to give to the bank.


Gregg Stebben:         Now, Steve, I'm really curious about steps five and six, because I would have thought we were done after number four when we got our loan package together. So, what's number five?


Steve Strauss:           Five is an easy one, which is, you know, you submit and you wait. You may wait a day. It just depends on what kind of loan you're trying to get. It may be that you have to wait for a couple weeks for underwriting to do their job. But you're going to submit and then see what happens.


Gregg Stebben:         I would imagine that if we did step number one correctly, which is create a relationship with our banker, then step number five, waiting, is a lot easier because we have someone we can go back to and check in with and say, "Is there anything else you need? How do you think we're doing? Do you think we're making the right kind of progress?"


Steve Strauss:           Bingo. So instead of going in blind and hoping for the best you're going in with your eyes open and expecting the best.


Gregg Stebben:         Yes, and having an advocate on our side.


Steve Strauss:           That's right.


Gregg Stebben:         Okay. So we're talking about how to get a business loan. We've now submitted our loan package, we're waiting to hear back from the bank. Let's just say because we did everything else correctly that we've now got our loan. What is step number six?


Steve Strauss:           Number six is to repay it in full and on time, and even better, early. I mean the secret to getting an even bigger and better loan next time, meaning better rates, better terms, that kind of thing, is to be a good borrower. So, that means paying it back early. It means that you've done everything that you're supposed to do.


                                   And if you do those kind of things, then you're going to have established yourself and your business as being credit worthy, and once that happens then the bank is going to want to work with you even more, and you're going to want to grow your business, and you're going to get another loan, and you're going to grow your business, and you will have created a great relationship and one that allows you to have the capital that you need accessible, and that's really is what makes a big difference for so many small businesses.


Gregg Stebben:         I love the sound of having a bank want to work with me even more.


Steve Strauss:           Right.


Gregg Stebben:         So, let's walk through those six steps again really quickly as a recap. Step number one, start creating a relationship with your banker right now before you're ready to apply for a loan. Step number two, figure out how much you need, not too much, not too little. You got to figure out what the right amount is, and of course, if you have a relationship with your banker you can get some help there I would imagine.


Steve Strauss:           Correct.


Gregg Stebben:         Step number three, get your personal credit in order because that's probably going to be a factor here. Step number four, prepare your loan package, which leads to number five, submit and wait. And step number six, probably the most important because we do want the bank to want to work with us again the future ... Step number six, repay the loan back in full, on time, even early, because that will make it clear that you are a great business to lend to next time.


                                   Steve, thanks for the great advice and steps for how to get a business loan. Where can our listeners go to find out more about you and get more of your great advice for small businesses?


Steve Strauss:           Sure. You can always find me at my personal website, which is You can find me at USA Today, and I would also suggest that you come over to the Bank of America Small Business Community. They have lots of great information, articles, videos, tips, other experts, and you can find a lot of great, great stuff right there.


Gregg Stebben:          As Steve mentioned, a great place to go for advice in addition to his website, USA Today, and of course checking out his best-selling book, The Small Business Bible. Visit the Bank of America Small Business Community. It's at


Announcer:                Thanks for listening to “The Heartbeat of Main Street” with ForbesBooks at and Bank of America at



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