Episode 203 - High Risk, Higher Returns: Are You Playing It Too Safe?

SHIFT with Elena Agar

Today, we're diving deep into the intricacies of decision-making, risk, and career development with our esteemed guest, Steve Mann. With an impressive track record in finance and a bold entrepreneurial spirit, Steve shares invaluable insights from his career journey—from commercial banking in Baltimore to strategic roles at Microsoft, and now, venturing into disruptive innovations and startups. In this episode, Steve and Elena unpack the art of risk assessment, the importance of achieving clarity before making decisions, and how over-analysis can hinder opportunities. Steve's approach to financial analysis, focusing on income statements and balance sheets over CEO reports, offers a fresh perspective for aspiring professionals. We also explore the significance of mentorship, personal development, and the delicate balance between technical expertise and effective management. Steve’s reflections on his career shifts, decision-making processes, and passion for innovation provide a roadmap for anyone looking to navigate the complex world of tech and finance. So, whether you're aiming to grow in your career, embrace entrepreneurial challenges, or simply understand the dynamics of effective decision-making, this episode promises to deliver crucial takeaways and thought-provoking discussions. Tune in to learn from Steve’s experiences and get inspired to make your own impactful decisions. Time Stamps: 00:00 Banking career: commercial lending, GE Capital, MCG 04:56 Shift from Microsoft to personal entrepreneurial pursuits. 07:45 Intimidated by analytical finance skills, lacking creativity. 13:19 Assessing credit risk involves uncertainties and assumptions. 15:24 Entrepreneurial upbringing fostered risk-taking mentality. 17:56 Desire for decision-making and entrepreneurial involvement. 21:26 I just want to create, not be CEO. 25:04 Companies struggle with talent after 50 employees. 30:32 CEOs' decisions impacted by unexpected inflation trends. 34:15 Tech sector favors generalists over specialists. 35:41 Develop diverse mentorships: broaden perspectives, expand opportunities. 40:55 Assess impacts of acting and not acting. 42:09 Tim Ferriss's the cost of inaction approach Connect with Steve: https://www.linkedin.com/in/swmann/ Follow Elena: LinkedIn: https://www.linkedin.com/in/elenaagaragimova/ Instagram: https://www.instagram.com/elenaagaragimova/ Listen on: Apple: https://podcasts.apple.com/us/podcast/shift-with-elena-agar/id1530850914 Spotify: https://open.spotify.com/show/5UKh6dWcuQwJlmAOqD8wij