Season 1,

57: How to Lose Money by Doing a Great Job with Stephanie Chung

June 06, 2017

Is it possible that being good at your job isn’t always enough? In this episode, Stephanie tells a different kind of “How to Lose Money” story…

Based in Dallas, Stephanie Chung and Associates offer sales training, executive coaching, and small business mentorship services nationwide. Among her products is the “High Ticket Selling Made Simple” course, designed to help small business owners sell more and make more. As a former sales executive in the aviation and private jet industry, Stephanie has mastered the art of high ticket selling and has mentored, coached and developed some of the highest paid, most elite, sales professionals in the country.

Serving business leaders, entrepreneurs, and sales professionals, Stephanie Chung uses her proven executive coaching and sales training expertise to get the job done. Chung is an executive coach, trainer and advisor backed by more than 25 years of team management, business development, and sales leadership experience. Chung is also a public speaker, a contributor on ABC, CBS, NBC and author of “Profit Like a Girl: A Woman’s Guide to Kicking Butt in Sales and Leadership” and “Embrace the Suck: How to Grow and Succeed in Business”.

Time Stamped Show Notes:

[4:19] Embrace the suck is knowing that when you have a problem, you have to deal with it knowing it’s going to get better.

[6:00] Back in 2013, being a VP of Sales at a private jet industry and after the recession, the company was thriving as the numbers were going up again.

[7:25] Parent company, made bad decisions wanting to make a brand new jet. Didn’t work out and had to sell divisions, one of them being the one where Stephanie was.

[8:45] Even though her division was headed in the right direction, the parent company was cutting expenses everywhere to preserve cash.

[10:34] Word was that a competitor wanted to purchase the company, which led Stephanie to start asking if she should be looking for another job. She was told to not worry.

[12:30] Loving the job and her colleagues, having her resume updated wasn’t a priority before and during the rumors of the company being sold.

[13:55] On November 11, 2013, while driving to work and after a day of being at the cancer center, she got to her CEO who said that effective immediately her position was eliminated from the company.

[16:38] After a couple of weeks feeling hurt and betrayed, Stephanie realized that what she did was defining who she was.

[18:34] “The moment that you allow your job to define who you are, your identity is really in trouble.”

[19:33] During that time going through the suck made Stephanie stronger and allowed herself to heal and to know who she is.

[22:23] Failing Forward Segment

  • What is the bottom line reason of this failure? – “I see that as positive. I believe it happened to me because of where I’m at now and was able to take all those skillsets that I have to work with leaders.”
  • What is the single most important lesson they and you learned from this? – “You got two choices: get bitter or get better. Learn the experience, lick my wounds, get back up.”
  • What are the major ways you protect yourself from future failures? – “Be aware of the entire situation and surrounding. Pay a lot of attention to the numbers.”
  • Who do you turn to when you need help? – “I’m a woman of faith so I turn to God. I also have great support from my husband, my daughter and my parents.”
  • What advice would you give to someone in a similar position? – “Know it’s not the end of your life and dig deep as part of the healing process, be selfish to figure out what you want to do next.”

[33:19] In Stephanie’s book Profit Like a Girl you’ll to learn how to break out on your own or breaking through to the next level. And in Embrace the Suck you can learn to know yourself and know that there are going to be bad moments that are there to make you stronger.

[37:15] Stephanie’s final thought: “The real growth is when you’re in the valley, between the rocks and the grind.”

To hear this episode and many more like it on your mobile device, you can subscribe to How To Lose Money via iTunes or Stitcher.

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