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When Adversity Meets Resiliency with Kieran Lynch

On today’s episode, Dr. Sabrina, The Business Psychologist™, welcomes her guest, Kieran Lynch, back to the podcast. About a year ago in Episode 33, they discussed the power of culture and how that was helping him recruit as an electrical contractor in an industry where he was facing a lot of challenges around recruiting.

How different his circumstances are now! Kieran and his business faced an especially difficult challenge that he came through only to be impacted immediately after by the coronavirus. Kieran's strategic thinking and his resiliency are powerfully evident in this encouraging and inspiring conversation that you don’t want to miss.

Kieran has over 15 years of experience in the electrical industry and joined the Lynch Power family business part-time in 2004. First helping his father as an apprentice electrician on nights and weekends to becoming an integral part of the company’s growth and success as Principal of the company. Along the way, Kieran has held positions of electrical journeyman, foreman, and project manager. Kieran leads the finance, marketing & strategic planning departments of Lynch Power providing new-age guidance on significant decisions for the company. His broad experience, proven leadership, and hands-on approach ensures client satisfaction.

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

  • As Kieran relates, his business experienced their best year ever, then overnight it became their worst year ever because his largest client, with whom he was doing 80% of his business, went bankrupt.
  • Although there were rumors of trouble, he was being assured that everything was fine.
  • Looking back, these are the five steps he wish he had taken:
    1. Relax.
    2. Analyze and ask around.
    3. Create multiple plans.
    4. Forget the past. Learn from it and move forward.
    5. Understand and recognize that this made you stronger. It’s really a blessing in disguise.
  1. Dr. Sabrina shares the 80/20 principle, which is where 20% of clients are responsible for 80% of your revenue.
  • Kieran replays the date he broke the bad news to his employees and their reactions.
  • Kieran describes the strategies he implemented at this time to pull his team together. He took ownership that it was partially his fault for not seeing it sooner.
  • His business had just recovered from the financial hardship when the coronavirus hit. He did have to make employee cuts but assured them that his intention was to eventually bring them back in.
  • Kieran predicts that in 12 months, his business will be stronger than it has ever been. He shares some of his ideas on leveraging existing clients and partners.
  • Looking at his financials, he found a lot of “fluff” that he could cut.
  • Keep in mind that now is a great time to be on the lookout for A-players for when you’re able to start hiring again.
  • Gratitude is huge.

Links and Resources:

Taking care of yourself is important now more than ever. Are you ready to take your life back from your business?

The FIRST STEP is taking our Assessment at:

https://www.tapthepotential.com/assessment

NEXT, meet with our Success Team Lead to debrief your results.

THEN, join our Better Business, Better Life™ program!

Tap The Potential Strategy Session for Entrepreneurs Impacted by COVID-19

https://www.tapthepotential.com/strategy

Get the Book!! How to Hire the Best – Contractors Edition
www.TapThePotential.com/book

How to Hire the Best Toolkit

www.TapThePotential.com/Toolkit

Get Your 2020 Action Planner Now!

The Pumpkin Plan Action Planner 2020

https://www.tapthepotential.com/planner

Dr. Sabrina’s WEBSITE

Dr. Sabrina’s PODCAST – PLEASE RATE & REVIEW!

Profit by Design, a Tap the Potential production in collaboration with Small Business Consulting Group

For Resources & Tools from Sponsors – https://www.profitbydesignpodcast.com

Subscribe & Share Podcasts! – https://www.profitbydesignpodcast.com/podcasts/

Facebook Grouphttps://www.facebook.com/groups/ProfitByDesign/

The Q-Storming protocol is a useful tool that bypasses crisis-oriented tunnel vision. Current and past clients can request a FREE laser-coaching session. If you’ve never been a client, check out a 45-minute Q-Storming strategy session here: https://www.tapthepotential.com/strategy. It is a $250 investment.

Calm App

Are You Leading with Love or Know Another Entrepreneur Who Is Being a Gift from Their Gifts During This Time?

Please use hashtags #leadwithlove #beagift and we will be re-posting these social media posts!

Suggested Episode 33 with Kieran Lynch:

Creating Company Culture to Attract and Retain A-Players with Kieran Lynch

Connect with Kieran!

Kieran’s Website

Kierans’ LinkedIn

Mentioned Book:

Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink

About The Author

Dr. Sabrina Starling, The Business Psychologist and international best-selling author of the How to Hire the Best series and The 4 Week Vacation™, is the founder of Tap the Potential and host of the Profit by Design podcast. At Tap the Potential, we work to free business owners from the constant demands of a growing business.

We believe work supports life, not the other way around. Clients in our Better Business, Better Life coaching program have more time for what matters most and more money in their bank account than they’ve ever had. Next, we send them off on a 4 Week Vacation™ to celebrate their hard-earned journey to take their life back!

Dr. Sabrina and her team at Tap the Potential are on a mission to change the story of entrepreneurship from one of long hours, grinding it out, to one of sustainably profitable businesses that support and enhance life. The Tap the Potential Solution™ and our Tap the Potential Family of Business Owners are disrupting small business as usual. We are on our way to making the Tap the Potential Solution™ the mainstream model for growing business.

By 2023, 150 Tap the Potential clients will have taken 4 Week Vacations. These are the trailblazers, role modeling what’s possible for entrepreneurs. In many entrepreneurial circles, it is becoming more and more common for one entrepreneur to ask another, “Have you taken a 4 Week Vacation™?” (as opposed to asking “How many employees do you have?” or “What is your annual revenue?”). Taking a fully unplugged 4 Week Vacation is rapidly becoming the recognized symbol of entrepreneurial success.

Never one to accept the status quo or back down from a challenge, Dr. Sabrina’s How to Hire the Best series grew from her desire to solve the toughest hiring challenges interfering with her clients’ growth and profitability. What sprang from her experience working with entrepreneurs in rural areas catapulted her into becoming the world’s leading expert in attracting top talent in small businesses—no matter what hiring challenges those businesses are facing—and earned Tap the Potential’s reputation as the go-to resource for entrepreneurs committed to creating Great Places to Work with thriving coaching cultures and highly engaged team members working from strengths.

As The Business Psychologist, and with her years of driving profit in small businesses, Dr. Sabrina knows what it takes to find, keep, and motivate exceptional performance out of your biggest investment—team members.