Guide to becoming your own boss

Author Guy Raz shared some of the lessons he’s learned from company founders and how to build a business during an economic downturn.
3:44 | 09/16/20

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Transcript for Guide to becoming your own boss
Starting a new business during a recession might sound like a crazy idea, but some experts say an economic downturn may actually be one of the best times to take that leap. My next guest, host of the highly acclaimed how I built this podcast, is out with a new book "How I built this." Guy Raz, the author joins me now. Guy, thanks for being with us. You've been doing your very successful podcast since 2016. For those who aren't familiar with it, tell us about it. You know, Amy, it's not a business show, it's a storytelling show, and it's a show about human drama. It's told through the prism of business, and you know it's very much influenced by this concept of the hero's journey, you see it in epic stories like the odyssey and the bible and the Harry potter, she's a hero, a bit of an oddball, has a crazy idea. She has to leave the village to pursue the crazy ideas. She can come along challenges. So we try and tell these heroes' journe but through the prism of business founders. You got your podcast, tell us about this book, is it different from the podcast? Yeah, a lot of our listeners tell us what stops pursuing a business is fear. I understand that. I'm sure you understand that. We all have that fear -- the fear of rejection or failure, but this book is really designed for that very person, the person who has doubts and worries, and it's a guide on how to bring your ideas to life, but all told through stories, through narratives of some of the greatest entrepreneurs in the world and, you know, these people like Howard Schultz of Starbucks, they're really just like you and me, but the difference is that they went into the phone booth and put on the cape and in a sense this book is designed to be the phone booth. I love that. For people who are watching, thinking about starting their dream business during a global pandemic, what would you say is the key to growing a successful business at any time? You know, it seems counterintuitive. But a lot of amazing companies have started their businesses in the middle of crises, slack, Microsoft, airbnb Hewlett Packard started in the middle of the great depression. There are huge opportunities now. Things to remember -- first, you got to find a problem that you have and that other people have. And a problem that you can figure out how to solve, that's essentially what a business is. It's offering a product or a service that makes life easier for you and for other people. I would say that the second thing is you got to be really resourceful with what you have right now. You don't want to spend a whole lot of money, you want to go lean. Moments like these force you to be careful with what you prioritize and you have to prioritize very methodically, and if you have a day job right now, don't quit your day job, keep your day job, but focus your energy on your side hustle, on the weekends, at night. A lot of amazing companies like Sam Adams beer started out that way, they started out as a side hustle. So you want to slowly build the confidence to turn it into something bigger until you gain, lift off and then you reach cruising altitudes. Guy Raz, congratulations on the book and the podcast. Thank you so much for being with us. Thank you, Amy.

This transcript has been automatically generated and may not be 100% accurate.

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