Feb 21, 2023
Staying Grounded - Evan Welch - Leadership in Action- Episode #57
On this episode of Leadership in Action, we are joined by a financial mastermind and member of almost 10 years. He has 25 years of experience as an investment fiduciary and has been featured in The Wall Street Journal, Investor’s Business Daily, Bloomberg, and more. Starring on the show this week is Partner, Chief Investment Officer at Antaeus Wealth Advisors, LLC, Evan Welch. Mark and Evan take this opportunity to discuss what it means to be an effective leader, some of the challenges of being a wealth advisor, and how to get started coaching youth hockey.
* A common misconception about entrepreneurs is that they are selfish. A good leader puts their team and employees first.
* Making your employees feel appreciated is a key component of retaining your employees. Sustainable employee practices establish long term employee retention.
* How you treat your employees affects how customers enjoy the experience at your business. Your customers can often subconsciously pick up on if your employees are enjoying their job, and that association will affect your customers enjoyment.
* Many investment professionals have moved into the RIA space. RIA’s don’t work on commission, and are held to a legal liability. The combination of those factors make your clients feel more comfortable.
* Technical skills are not enough to run a business alone. Joining a network like EO can help teach you business skills to augment your current knowledge.
* A good leader needs to help their employees understand the why behind the business. Knowing the why will motivate your employees, and provide them with a better sense of direction.
* LinkedIn: https://www.linkedin.com/in/evanpwelch1/
* Website: http://www.antaeuswealth.com/
Quote of the Show
* “An entrepreneur can not do a good job if they don't have a good team behind them because you can't build a business all by yourself.” - Evan Welch
Ways to Tune In:
* Apple Podcast - https://podcasts.apple.com/us/podcast/leadership-in-action/id1585042233
* Spotify - https://open.spotify.com/show/2t4Ksk4TwmZ6MSfAHXGkJI
* Stitcher - https://www.stitcher.com/show/leadership-in-action
* Google Play - https://podcasts.google.com/feed/aHR0cHM6Ly93d3cubGVhZGVyc2hpcGluYWN0aW9uLmxpdmUvZmVlZC54bWw
* Amazon Music - https://music.amazon.com/podcasts/4263fd02-8c9b-495e-bd31-2e5aef21ff6b/leadership-in-action
* YouTube - https://youtu.be/MUtQY_l1aL4
Mark Stiles: Hey folks. Welcome back to Leadership In Action, your Boston chapter of EOS podcast. Today's guest, a financial mastermind. He has 25 years experience as an investment fiduciary. He has been featured in the Wall Street Journal Investors Business Daily and Bloomberg, just to name a. Partner, chief Investment Officer at NTAs Wealth Advisors L L C.
Please meet Evan Welch.
Evan Welch: Hi everybody. How you Ben? I'm great. I'm great. Well, I'm excited for 2023.
Mark Stiles: Awesome. You ready for the question? I'm ready. What is a common misconception about leadership running a business and or being an entrepreneur? Go
Evan Welch: so. I think a common misconception about leadership and business owners and entrepreneurs is that they are selfish.
Um, particularly among those who are not business owners or entrepreneurs. Um, I think that, you know, a good leader puts their team first, puts their employees first, and those are the firms that that really thrive because frankly, a good leader and a good business owner and an entrepreneur, Do a good job if they don't have a, a, a good team behind them because you can't build a business all by yourself.
It's pretty hard. And, you know, I think a good leader is curious and they help their employees understand the why behind the business. I know we've all heard about that with Apple and some other companies, not just, you know, here's what we do, but, you know, why do we do this? Like, what's the, what's the North Star?
Uh, and, and I think frankly, you know, the. The media is easy to beat up, but when you look at the larger companies out there, maybe you know, entrepreneur 2.0, you know, a lot of CEOs, right, are, are put in, are seen in the media as selfish, you know, stock options, their stock, their compensation as opposed to the company.
And you know, obviously a hundred thousand employee companies. A little bit different than most entrepreneurial businesses, but I think that that is a common misconception. Um, a lot of rank and file. Um, Feel or or believe, and I think it's, it's often incorrect.
Mark Stiles: Often incorrect, but it is correct in a lot of situations still here in the 2023.
Evan Welch: Yes. I mean, but I think there are, I think there are selfish people of all jobs. Right? Right. And, and there are certainly, you know, most entrepreneurs. Pretty motivated people or else they wouldn't take the risk. Um, they're, you know, they're going to be pretty self-motivated typically, and, and maybe a little bit self-focused.
Um, but the entrepreneurs that I've met through many, many years who are successful, are in amazing people. And, and, you know, yes, they're leaders and go get it. And, you know, they, they're, they're self-starters, if you will, but they're not selfish.
Mark Stiles: It, it's a really interesting conversation cuz it gets so deep.
Right? So, you know, we can go down the path of culture and the evolution of business and where people were in the 1980s and nineties. Where, where, what, what was the motivation? You know, what was the perception? What were you striving for as a business owner, right? Like there was a certain perception that you had to carry with.
the suit, the really expensive suit and shoes and expensive watch and you know, that perception was part of the job. It's, it's interesting when you see that gap kind of closing in a little bit too, right? Between ownership and contributors. Somebody on this podcast actually referred to as contributors and I was, I loved it.
You know, cuz I al I always hate that, you know, when someone's like, oh, he is my boss, or I work for, it's like, no, no, no. , we're in this together. You, we work with right. We work together for a common purpose and goal. But, um, but it wasn't that long ago that that was something that was almost being taught.
Evan Welch: Absolutely. Um, and, and, and I think, you know, part of that is probably the pandemic. You know, that's part of it. And, and as you mentioned, I mean, things seem to be. Slightly less formal, I guess. Um, and you know, I think, I think with what's happened also in the last couple years with the pandemic, I think a lot of business owners have realized how key their employees are.
Mm-hmm. not just having them on, you know, as a part of the team and, and, and participating and engaged, but, but actually having them. , right? When, when, obviously a lot of businesses are run predominantly virtual and online. Um, but I also think it's, it's, it's rec, it's helped people understand how important those interactions are with their team and how much their team really brings to the table.
Um, and of course then we have the, you know, the, the more. I guess global, national changes that we've seen with, you know, labor getting more involved and more active and, um, all of that as well. And, you know, I I, one of the things I heard that was great when we were, you know, I was talking, this was, this is totally from a financial background, I think I was talking to some of one of the big investment houses or BIT or banks and they said, well, COVID was a, was a turning point where the minimum wage worker who was doing 70 hours a week at Applebee's or.
you know, job like that said, I'm not doing this anymore. It's just not worth
Mark Stiles: it. It's not worth it and I'm not being appreciated enough. I went into a coffee shop, um, right around the holidays and, you know, everybody's in that spirit of giving and, and, and this, this coffee…