Finding Red Flags in Business

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Red flags are signs of potential issues in business or wherever. However, most of the time, the red flags are found after the damage has been done.

So, how do we reduce the risk of mistakes and point our business in the direction of success? The first crucial step would be to identify the obvious red flags and address them.

Today, we have Walter Hill, Jr. — Chairman of the Board and CEO of Icon Blue, Inc. and author of Think Red Flags. He gives us a peek into his experience in business and how he became successful through red-flagging.

Avoid irreparable errors, and make sure your business is right on the track it needs to be. Hit that play
button and let’s dive in.

What’s Discussed In This Episode:

0:00 Opportunity Analysis

1:54 Welcome to the podcast

2:15 Walter shares his success story

10:03 Red-flagging and its benefits in addressing potential issues in your business

12:22 Planning around red flags when starting a new business

18:57 Red-flagging in project management to reduce and avoid irreparable errors

23:09 How designing trajectories for your business produces the same outcome as red-flagging

27:52 How the elements of your business play out in your success

28:46 Matrix vs Process

33:58 Why learning from another person’s experience is still a great way to learn

38:48 How bad business culture became a red flag in Matt’s company

45:09 When to apply the “hire for attitude, not for experience” principle

48:51 The magic formula to success

About The Guest:

Walter Hill, Jr. has been devouring the fundamentals of business creation since he was 9 years old. He has worked on contracts for Paramount Pictures, CBS, NBC, and Coca Cola, among others. In his book, Think Red Flags, Walter offers proven techniques and strategies in running a successful business.

Resources:

Connect with Walter Hill Jr:

  • Socials: @officialwalterhilljr

Books Mentioned in This Episode:

• Think Red Flags by Walter Hill, Jr. (https://amzn.to/2XzpnAG)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to The Site Shed: You can also listen to The Site Shed on Apple Podcasts, Spotify, and
Stitcher.

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