In this insightful episode of the Grow Business Podcast, hosts Cory Mosley and Lon Graham dive into the critical role of innovation in driving business success. They explore how outdated technology, shifting customer expectations, and stagnant growth signal the need for change—and why failing to evolve can leave businesses behind. The discussion covers real-world examples, including the decline of brands like Sears and Kmart, to highlight the dangers of ignoring innovation. The hosts break down the five pillars of business growth—mindset, sales, marketing, operations, and people—and how strategic innovation in these areas can propel companies forward. They also tackle the impact of technology on customer and employee experience, emphasizing how outdated systems, like dot matrix printers, create inefficiencies that hurt satisfaction and productivity. Employee engagement is another focal point, as they reveal how high turnover and low motivation often indicate deeper business issues. To help businesses navigate innovation effectively, they introduce the concept of an "innovation filter"—a checklist to evaluate new ideas and ensure they align with long-term goals. The episode wraps up with actionable insights on how to embrace innovation strategically, avoid chasing trends without purpose, and create a sustainable competitive advantage. Main Takeaways: Outdated technology and legacy systems can bottleneck customer and employee experience. Business growth depends on balancing internal innovation with competitive awareness. Employee engagement and retention are key indicators of business health. Chasing trends without strategy can waste resources—use an “innovation filter” instead. Smart innovation is intentional, solving real business challenges rather than just following fads.

In this insightful episode of the Grow Business Podcast, hosts Cory Mosley and Lon Graham tackle the challenges of cost-cutting while maintaining business growth and stability. They discuss the risks of slashing marketing budgets, laying off key employees, and delaying technology upgrades—all of which can have long-term negative impacts. The conversation also explores how a business’s physical appearance affects customer perception, using real-world examples like a run-down Wendy’s to highlight the importance of timely renovations. Cory and Lon share practical strategies for smart cost-cutting, such as eliminating unnecessary expenses, leveraging automation, renegotiating vendor contracts, optimizing space, and refining product offerings to focus on what drives profitability. They wrap up with actionable insights to help business owners make strategic spending decisions that support long-term success, even in uncertain economic conditions. Main Takeaways: Cutting marketing and sales budgets can stifle business growth—invest wisely instead. Laying off key employees can lead to a loss of expertise and operational inefficiencies. A neglected physical appearance can harm customer perception and revenue. Smart cost-cutting involves eliminating wasteful spending while investing in high-ROI strategies. Regular cost audits help businesses align expenses with growth goals.