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Pedram Afshar, Amaka

June 8, 2022 by John Ray

Amaka
North Fulton Business Radio
Pedram Afshar, Amaka
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Amaka

Pedram Afshar, Amaka (North Fulton Business Radio, Episode 464)

Pedram Afshar joined host John Ray to discuss the automation and artificial intelligence technology Amaka employs to serve small business owners and their advisors. Pedram discussed how automation and AI can be used to improve customer service for a business, the tools Amaka offers to give businesses a better, faster look at their financial picture, why their tools enable advisors to better serve their small business clients, and much more.

North Fulton Business Radio is broadcast from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta.

Amaka

Amaka is a business automation platform, that leverages APIs to bring business and accounting automation for small and medium-sized businesses.

It is for accountants, bookkeepers, and business owners with the need to automate their data entry. You can save tens of hours by automating the data aggregation process between POS, online stores, and accounting softwares.

Company Website |LinkedIn | Facebook | Twitter

Pedram Afshar, Co-Founder and CEO, Amaka

Pedram Afshar, Co-Founder and CEO, Amaka
Pedram is a serial tech entrepreneur from Australia. He has built global technology solutions, mainly focused on the B2B market. He is currently the CEO of Amaka and is focused on business and accounting automation, leveraging APIs. He has a passion for small and medium-sized businesses, which he regards as the engine room for any economy.
Pedram is from Australia and moved to Atlanta in 2021.

LinkedIn

Questions and Topics in this Interview:

  • Automation and the future of SMBs
  • Automation and Artificial Intelligence (AI) and the impact on employment more generally
  • Process improvement in SMBs, and how to improve profit margins
  • What is your tech stack, and how do you leverage technology, to provide the most amount of value to customers
  • Startup journey and what skills founders need to succeed
  • Customer service as a differentiation

North Fulton Business Radio is hosted by John Ray and broadcast and produced from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta. You can find the full archive of shows by following this link. The show is available on all the major podcast apps, including Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, Stitcher, TuneIn, and others.

RenasantBank

 

Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has grown to become one of the Southeast’s strongest financial institutions with over $13 billion in assets and more than 190 banking, lending, wealth management and financial services offices in Mississippi, Alabama, Tennessee, Georgia and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.

 

Special thanks to A&S Culinary Concepts for their support of this edition of North Fulton Business Radio. A&S Culinary Concepts, based in Johns Creek, is an award-winning culinary studio, celebrated for corporate catering, corporate team building, Big Green Egg Boot Camps, and private group events. They also provide oven-ready, cooked from scratch meals to go they call “Let Us Cook for You.” To see their menus and events, go to their website or call 678-336-9196.

Tagged With: A&S Culinary Concepts, accounting app, AI, AI technology, Amaka, artificial intelligence, automation, bookkeepers, North Fulton Business Radio, Pedram Afshar, pos, QBO, renasant bank, SMBs

LIVE from RISKWORLD 2022: Stephen Weinstein, Business Development Agency Bermuda, and John Huff, Association of Bermuda Insurers & Reinsurers 

June 8, 2022 by John Ray

Bermuda
Minneapolis St. Paul Studio
LIVE from RISKWORLD 2022: Stephen Weinstein, Business Development Agency Bermuda, and John Huff, Association of Bermuda Insurers & Reinsurers 
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Bermuda

LIVE from RISKWORLD 2022: Stephen Weinstein, Business Development Agency Bermuda, and John Huff, Association of Bermuda Insurers & Reinsurers

Stephen Weinstein with Bermuda’s Business Development Agency, and John Huff, CEO of ABIR, shared with Jamie Gassmann the history and resiliency of Bermuda that has helped it become the world’s center of risk capital. They discussed the unique benefits Bermuda offers those who choose to do business there, including the new residency option, a Digital Nomad Certificate, and more.

Workplace MVP is underwritten and presented by R3 Continuum and produced by the Minneapolis-St.Paul Studio of Business RadioX®.

This show was originally broadcast from the RIMS 2022 RISKWORLD Conference held at the Moscone Center in San Francisco, California.

Stephen Weinstein, Chairman of the Board, Business Development Agency Bermuda

Stephen Weinstein, Chairman of the Board, Business Development Agency Bermuda

Bermuda’s Business Development Agency (BDA) connects you to industry professionals, regulatory officials, and key contacts in Bermuda. Our history has created a highly respected and successful financial centre recognized for worldwide standards of compliance, regulation, transparency, and infrastructure.

Explore the five unique advantages of doing business in an international hub for industries, where lifestyle, stability and a business-friendly climate delivers growth.

Stephen Weinstein holds a J.D. from Harvard Law School. He has been Chairman of the Board for the Bermuda Business Development Agency since 2016.

Company website | Stephen Weinstein LinkedIn

John Huff, CEO, Association of Bermuda Insurers & Reinsurers (ABIR)

John Huff, CEO, Assoc of Bermuda Insurers & Reinsurers (ABIR)

The Association of Bermuda Insurers and Reinsurers (ABIR) represents the public policy interests of Bermuda’s international insurers and reinsurers that protect consumers around the world. With headquarters and operations in Bermuda and with operating subsidiaries in the United States, United Kingdom and Europe, these carriers do business in more than 150 countries.

Since 1993, ABIR’s advocacy and achievements have helped raise the global profile of Bermuda as a whole, underscoring the jurisdiction’s reputation as a top-tier international financial center. Strategically deploying capital to underwrite and manage global risk for over 30 years, Bermuda insurers have built what can only be called the World’s Risk Capital – a reference to the innovation, entrepreneurialism and leadership of Bermuda re/insurers and the Bermuda government that has fostered the growth of this industry. Energized by innovation and fueled by grit and determination after Hurricane Andrew, risk pioneers in Bermuda planted the seeds for an insurance market that would ultimately be known globally for its reliable, responsible, highly-regulated and well-resourced approach to risk management. These pioneers joined forces as a collective voice by forming the ABIR.

John Huff is CEO of ABIR. He holds a law degree from Washington University in St. Louis School of Law.
Company website | John Huff LinkedIn

About Workplace MVP

Every day, around the world, organizations of all sizes face disruptive events and situations. Within those workplaces are everyday heroes in human resources, risk management, security, business continuity, and the C-suite. They don’t call themselves heroes though. On the contrary, they simply show up every day, laboring for the well-being of employees in their care, readying the workplace for and planning responses to disruption. This show, Workplace MVP, confers on these heroes the designation they deserve, Workplace MVP (Most Valuable Professionals), and gives them the forum to tell their story. As you hear their experiences, you will learn first-hand, real-life approaches to readying the workplace, responses to crisis situations, and overcoming challenges of disruption. Visit our show archive here.

Workplace MVP Host Jamie Gassmann

Jamie Gassmann, Host, “Workplace MVP”

In addition to serving as the host to the Workplace MVP podcast, Jamie Gassmann is the Director of Marketing at R3 Continuum (R3c). Collectively, she has more than fourteen years of marketing experience. Across her tenure, she has experience working in and with various industries including banking, real estate, retail, crisis management, insurance, business continuity, and more. She holds a Bachelor of Science Degree in Mass Communications with special interest in Advertising and Public Relations and a Master of Business Administration from Paseka School of Business, Minnesota State University.

R3 Continuum

R3 Continuum is a global leader in workplace behavioral health and security solutions. R3c helps ensure the psychological and physical safety of organizations and their people in today’s ever-changing and often unpredictable world. Through their continuum of tailored solutions, including evaluations, crisis response, executive optimization, protective services, and more, they help organizations maintain and cultivate a workplace of wellbeing so that their people can thrive. Learn more about R3c at www.r3c.com.

Company website | LinkedIn | Facebook | Twitter

TRANSCRIPT

Intro: [00:00:03] Broadcasting live from Riskworld 2022 at the Moscone Center in San Francisco, it’s time for Workplace MVP. Brought to you by R3 Continuum, a global leader in helping workplaces thrive during disruptive times. Now, here’s your host.

Jamie Gassmann: [00:00:22] Hi, everyone. You’re host, Jamie Gassmann, here, coming to you from our sponsor, R3 Continuum’s Booth at Riskworld 2022. And joining me are John Huff and Steve Weinstein from Bermuda Insurance or reinsurance.

Steve Weinstein: [00:00:37] It’s great to be here with you.

Jamie Gassmann: [00:00:38] Yeah. Thank you so much for being on the show. I’m excited to chat with you both. Yeah.

John Huff: [00:00:42] Our pleasure. I’m with the Association of Bermuda Insurers and Reinsurers. Our acronym is ABIR.

Jamie Gassmann: [00:00:48] Great. Okay. So, you know, and I goofed that up at the intro. I could just assume I bucketed you both underneath the same topic, so, or titles. So, that’s awesome. So, tell me a little bit about what you both do. So, Steve, you’re with Bermuda, so share with us a little bit about what Bermuda does.

Steve Weinstein: [00:01:04] So, I am the chair of the Bermuda Business Development Agency, a joint venture, a not-for-profit between the government and Bermuda’s private sector to promote Bermuda’s sustainable and equitable prosperity. The principle why we do that is by recruiting jobs, companies and capitals to come to Bermuda, to invest in our platform and to invest in Bermuda and to take the Bermuda story on the road to come to venues like RIMS and reach out to our friends and partners and make new ones and explain what we can do together to help grow U.S. risk markets to alleviate problems and to have fun while we’re doing it.

Jamie Gassmann: [00:01:34] Wonderful. And so, you were sharing with me, and I think it’s kind of fun to capture. You were sharing with me a little bit of like history about Bermuda. You want to share that on our show because it’s very intriguing.

Steve Weinstein: [00:01:47] So, Bermuda, its history dates back to 1609 when a rescue mission from the United Kingdom on its way to save Jamestown crashed into Bermuda’s coral reef. And from that modest beginning, Bermuda has become a true paradise, a subtropical paradise, the world’s risk capital, a great place to live and to work, and a really unique ecosystem. There’s no fresh water in Bermuda to drink and do laundry. We capture rainwater off our roofs, store it in tanks and keep reusing it.

Steve Weinstein: [00:02:18] Bermuda is extremely storm-exposed. The first settlers landed and build houses based upon Midlands English architecture a hurricane rolled through and knocked them all down and they immediately got to work to build storm-resilient housing out of stone using simple techniques. That’s also something that Bermuda can bring to the world as we confront this rising climate-driven trend for a greater risk. Bermuda learned to build a resilient community with no power tools. And if we all work together, we can be safer from the inevitable rise whether it’s storms or floods and wildfire. We just have to be sensible.

Jamie Gassmann: [00:02:50] Yeah. No. I just thought that was such an interesting story and sharing that. And I love, you know, hearing kind of some background around the areas that people are from. And, I know you’re an exhibitor here at the conference. So, what are some of the things you’re sharing with your attendees that are coming by? John, do you want to speak to that?

John Huff: [00:03:07] Sure. So if you fast forward from 1609 to the last 35 or 40 years, Bermuda now represents about a third of the global property and casualty reinsurance. I like to say we were climate before it was cool. So, we’ve dealt with natural catastrophes all over the world and represent a large segment, but also captive insurance was started in Bermuda. So, really, any innovation in the insurance or reinsurance industry has happened in Bermuda in that last period of time.

Jamie Gassmann: [00:03:37] Great. So, here at the show, you’re hoping to bring more business to Bermuda, is that correct?

John Huff: [00:03:42] That’s right. And also to write more business globally. So, our companies in Bermuda do business in about 150 countries. So, we’re guests in those countries as we provide insurance and reinsurance protection.

Jamie Gassmann: [00:03:54] Awesome. And so, is there – if you were going to tell somebody, you know, kind of a selling point of something super special about what Bermuda brings and gives to either an organization or somebody looking to maybe relocate, what is that like? What would you share? The charm of Bermuda.

John Huff: [00:04:13] So in the insurance sector, it’s innovation and agility. So, being able to respond. So, because we responded to natural disasters, natural catastrophes, and that’s really been our bread and butter business, we’ve been very responsive in that market and that’s what we’ve been known for, is immediate response when there’s a crisis, whether you’re making a family or a community whole after a very disruptive event, and to have the capital behind it to make sure you can make good on your promises.

Steve Weinstein: [00:04:44] I’ll touch on two things. Bermuda really stands out uniquely in respect of its ecology and culture and architecture for innovation. And there are so many needs and they’re so complicated to be able to move quickly in an architecture that’s compliant and blue chip and respected worldwide. But also faster is getting new solutions to market quickly is really unique about Bermuda.

Steve Weinstein: [00:05:05] On a human level, it really is a subtropical paradise. There’s nearly no better place to live, work, and play. And whether you come to join one of the members of companies in John’s organization or want to come by yourself, Bermuda pioneered in the pandemic a new residency status, what we call the Digital Nomad Certificate. But if you can work remotely, consider working remotely from paradise for a year.

Jamie Gassmann: [00:05:26] Yeah. Amazing. So now, Steve, you mentioned you are doing a presentation of [inaudible] here at RIMS. You want to share a little bit about that?

Steve Weinstein: [00:05:34] The most important thing for us in some respects to be at RIMS is to see old friends, make new ones and share our story. So, we’re here at the Bermuda booth, which I encourage you to visit if you’re here, come by and see us, come by our event, but we’ll reach out. But we also want to be in a dialogue and hear from this community. What are your challenges, what are your issues and how can we collaborate together to make them better? So, we’re both presenting, but we’re also listening.

Jamie Gassmann: [00:05:57] Yeah. So, you’re presenting within your booth itself and kind of sharing that message. Got it. Okay. That’s fascinating. And, I’m definitely going to have to stop by and take a look at some of the architecture you’ve built. You have the only house in the Expo Hall, something very unique.

Steve Weinstein: [00:06:13] The traditional vernacular architecture, which is aesthetically pleasing but also storm-resilient, is modeled here by our booth. So, we’re the only two-story structure and you can pretend that you’re riding out a hurricane. By the way, another traditional aspect of riding out a hurricane in Bermuda is to have your supplies, your water, your edible snacks, but also the national drink, the dark and stormy. And if we see you socially across this week, we’ll treat you a dark and stormy or two.

Jamie Gassmann: [00:06:40] That’s fantastic. Well, thank you so much for sharing with us the charm and the lure of Bermuda and why an organization should consider that for a business opportunity.

Steve Weinstein: [00:06:49] Thank you for being here, and thank you for promoting workplace empathy and safety and forward-thinking. It’s so important to our members. The most important capital is human capital and we are pleased to make this connection to be here with you today.

Jamie Gassmann: [00:07:01] Wonderful. Thanks.

John Huff: [00:07:02] Thank you very much.

Jamie Gassmann: [00:07:03] Yeah. Thank you both for being on the show.

Outro: [00:07:09] Thank you for joining us on Workplace MVP. R3 Continuum is a proud sponsor of this show and is delighted to celebrate most valuable professionals who work diligently to secure safe workplaces where employees can thrive.

 

Tagged With: ABIR, Assoc of Bermuda Insurers & Reinsurers, Bermuda, Business Development Agency Bermuda, Jamie Gassmann, John Huff, R3 Continuum, RIMS, RISKWORLD 2022, Stephen Weinstein, World's Risk Capital

LIVE from WORKBENCHcon 2022: Woodshop Mike, and Curtis from Hangtime

June 8, 2022 by John Ray

Woodshop Mike
North Fulton Studio
LIVE from WORKBENCHcon 2022: Woodshop Mike, and Curtis from Hangtime
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Woodshop Mike

LIVE from WORKBENCHcon 2022: Woodshop Mike, and Curtis from Hangtime (Organization Conversation, Episode 25)

Woodshop Mike, along with Curtis from Hangtime, were Richard Grove’s guests live at WORKBENCHcon 2022. Mike says he got his start in high school when he wanted to make a guitar and studied with a luthier. Curtis described the sticker wall partnership between Wall Control and Hangtime, the contest, Woodshop Mike’s work, and more.

Organization Conversation is produced by the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta.

Woodshop Mike

Woodshop Mike

Woodshop Mike is an information rich blog of all things woodworking with a vision to provide readers with an honest and transparent source for Shop Projects, Furniture, Home DIY, and Tool Reviews!  It’s our hope that readers may gain from our experiences and be inspired by our energetic approach that’s safety-driven, light-hearted, and succinct.

When he failed to make varsity soccer in high school, Mike instead turned his attention to woodworking and took on an apprenticeship with a local luthier for class credits.  He learned the craft of building guitars by hand, gaining a deep appreciation for reading grain patterns, attention to detail, and the use of hand tools.  He began building his own custom guitars, won a few awards along the way, and ignited a passion for building.

During his collegiate career, Mike continued his study of luthiery and branched off into different avenues of woodworking.  In the woodshop there, he had almost unlimited access to machining and woodworking equipment.  During these years, he began his exploration of woodturning along with building a few pieces of furniture.

Mike decided to start his own woodworking blog in 2013 as a way to give back to the woodworking community.  Since then, he’s grown from a part-time blogger into a full-time content creator and fine custom woodworker.  He thrives on designing and building new pieces, helping other woodworkers refine their craft, and being the main voice behind WoodshopMike.com.

If Mike’s not in the shop, you’ll find him either cranking out custom build plans for other woodworkers, editing videos for his latest builds, or cramming his face full of chips and salsa.

Connect with Woodshop Mike:  Website |Instagram | Facebook | YouTube

About Organization Conversation

Organization Conversation features interviews with movers and shakers in storage and organization, from professional organizers to the creative and talented Brand Ambassadors who use Wall Control products every day. You’ll hear tips, tricks, and how-tos for storage and organization, as well as receive first access to Wall Control promotions. We talk with our suppliers and partners to give you a look behind the scenes at how we operate, what makes our family-owned and operated brand tick, and some of the fun and interesting insights that go into making our business run. We love our guests, as they are engaging and entertaining with interesting experiences to share. By focusing on those guests and the amazing stories they tell, we hope you will be enriched and find your time listening to the Organization Conversation podcast as time well spent.

Organization Conversation is hosted by Richard Grove and broadcast and produced from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta. You can find the full archive of shows by following this link. The show is available on all the major podcast apps, including Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, and others.

About Richard Grove

Richard Grove, Host, Organization Conversation

Richard Grove‘s background is in engineering but what he enjoys most is brand building through relationships and creative marketing. Richard began his career with the Department of Defense as an engineer on the C-5 Galaxy Engineering Team based out of Warner Robins. While Richard found this experience both rewarding and fulfilling, he always knew deep down that he wanted to return to the small family business that originally triggered his interest in engineering.

Richard came to work for the family business, Dekalb Tool & Die, in 2008 as a Mechanical Engineer. At the time Wall Control was little more than a small ‘side hustle’ for Dekalb Tool & Die to try to produce some incremental income. There were no “Wall Control” employees, just a small warehouse with a single tool and die maker that would double as an “order fulfillment associate” on the occasion that the original WallControl.com website, which Richard’s grandmother built, pulled in an order.

In 2008, it became apparent that for the family business to survive they were going to have to produce their own branded product at scale to ensure jobs remained in-house and for the business to continue to move forward. Richard then turned his attention from tool and die to Wall Control to attempt this necessary pivot and his story with Wall Control began. Since that time, Richard has led Wall Control to significant growth while navigating two recessions.

Connect with Richard:

Instagram | Twitter | LinkedIn

About Wall Control

The Wall Control story began in 1968 in a small tool & die shop just outside Atlanta, Georgia. The first of three generations began their work in building a family-based US manufacturer with little more than hard work and the American Dream.

Over the past 50+ years, this family business has continued to grow and expand from what was once a small tool & die shop into an award-winning US manufacturer of products ranging from automobile components to satellite panels and now, the best wall-mounted tool storage system available today, Wall Control.

The Wall Control brand launched in 2003 and is a family-owned and operated business that not only produces a high-quality American Made product but sees the entire design, production, and distribution process happen under their own roof in Tucker, Georgia. Under that same roof, three generations of American Manufacturing are still hard at work creating the best tool storage products available today.

Connect with Wall Control:

Company website | Facebook | Instagram

Tagged With: Curtis Schmidt, Hangtime, Organization Conversation, Richard Grove, sticker wall, Woodshop Mike, woodworking, WORKBENCHcon 2022

Ohio Women’s Coalition with Rachel Winder

June 7, 2022 by John Ray

Rachel-Winder-Ohio-Womens-Coalition-Inspiring-Women
Inspiring Women PodCast with Betty Collins
Ohio Women's Coalition with Rachel Winder
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Ohio Women’s Coalition with Rachel Winder (Inspiring Women, Episode 47)

On this edition of Inspiring Women, host Betty Collins interviews Executive Director Rachel Winder on the advocacy work the Ohio Women’s Coalition performs on behalf of women throughout the state.

The host of Inspiring Women is Betty Collins and the show is presented by Brady Ware & Company.

Betty’s Show Notes

My guest is Rachel Winder, Executive Director at the Ohio Women’s Coalition.

What is the Ohio Women’s Coalition?

“The Ohio Women’s Coalition is a diverse, non-partisan alliance of women in business, women leaders, women business owners, and men that support the mission across Ohio who are coming together to improve the economic position for all women in our state. The OWC was created to amplify the voice of women in Ohio and to help draw attention to the unique challenges that women encounter, especially underserved women of color and women who live in underserved areas of the state, to gain access to economic opportunities in order to achieve financial stability and prosperity.”

In a very short time, the OWC continues to increase the awareness of women small business owners, and help them find funding and support that is usually elusive to them. Rachel goes in-depth about the exciting initiatives the OWC has accomplished, and what is on the horizon.

Here’s an overview of what we talk about…

Accomplishments on behalf of Women-Owned Businesses in Ohio
• Created a statutory definition of “microbusiness” in the Ohio Revised Code (2016)
• Created a Women’s Business Enterprise (WBE) program in the State of Ohio (2020)
• Successfully advocated for $10 million in state-backed women-owned business loans at 3% interest rate (2021)
• Successfully advocated for $10 million in state-backed women and minority owned business microloans at 0% interest rate (2021)

Results
• As of May 2022, $2,297,012 in Women’s Business Enterprise Loans have been approved for 11 companies, and $1,490,511 Ohio Micro-Loans have been approved for 39 companies. Nearly $3 million remains available in both loan programs with an additional $5 million available next fiscal year for each program.
• There are nearly as many WBE’s certified in Ohio as MBE’s, which is a program that was established more than 40 years ago. The OWC is committed to equality and lifting everybody up!
• The State of Ohio is literally making room for Ohio women-owned businesses. Recently, members of the Minority Development Financing Advisory Board voluntarily stepped away in recognition of the lack of women-owned businesses represented. Because of our advocacy, the work of this Board has been mostly focused on women-owned business loans, and they recognized women-owned businesses were not represented equally on the Board.
• For the first time in Ohio history, in 2022, each state agency is being asked to predict how many contracts will be going to women-owned businesses during the next fiscal year.

Also, don’t miss your chance to attend this year’s Women’s Leadership Conference.

WHEN: June 24, 2022, 7:30 a.m. to 5 p.m.
WHERE: Renaissance Columbus Downtown Hotel

Gain insights and connections with your Columbus professionals during this full-day event featuring:

Networking opportunities to make friends, business contacts, and
build relationships to grow your career and business!

More than 300 professionals in attendance

Customize your day with choices from 15 breakout speakers

A powerful breakfast speaker

A luncheon keynote

More than 30 exhibitors

This is THE podcast that advances women toward economic, social, and political achievement. Hosted by Betty Collins, CPA, and Director at Brady Ware and Company. Betty also serves as the Committee Chair for Empowering Women, and Director of the Brady Ware Women Initiative. Each episode is presented by Brady Ware and Company, committed to empowering women to go their distance in the workplace and at home.

For more information, go to the Resources page at Brady Ware and Company.

Remember to follow this podcast on Apple Podcasts and Google Podcasts.  And forward our podcast along to other Inspiring Women in your life.

TRANSCRIPT

[00:00:00] Betty Collins
So today is a is a great topic and it’s a topic that I really wanted to have a great conversation with a great woman who I’ve known for some years. And it’s all on advocacy. And it’s it’s not politics. It’s advocacy, although that includes politicians. Right. So I’m really fortunate because in central Ohio is where the government is for a higher rate. And so you have a little bit more access, a little bit more easier. And so there’s a lot more lobbyists here. There’s people who you can connect yourself with. But I really didn’t know much about advocacy until I was in the National Association of Women Business Owners Columbus chapter, and they are known for advocacy. It’s kind of they’re different characteristics compared to other groups in town. And so I started seeing that, hey, we’re going to go talk to this senator or we’re going to try to get to the governor’s office, or we’re going to do these things because we want to tell our story or we want to communicate what’s important to us. And I really didn’t really think much about it until in 2019 I started I was going to become the president of the that Columbus chapter in July of 19. So I went to an annual neighbor’s annual training in D.C. but it’s also really their advocacy day. So the presidents and the incoming presidents and the past presidents all meet for a day about NAWBO and training. And then we have a day or so on advocacy. And we actually in the year that I went in 19, we actually get to get in these big black SUVs. They went in a parade over to the White House grounds. And if you know the White House, you’re not walking in the front door, but there’s other buildings on that ground.

[00:01:46] Betty Collins
So we went to the Eisenhower building and we met with at that time the Trump administration officials all all morning long. But it was the coolest experience. And it was invigorating because I saw everyday people who wanted to serve their country, not what you see on the news that want to make noise. These were everyday people that wanted to hear from you. And then from there we got back in the cars and we got to go over to the hill and we met with our different various senators on both sides of the aisle. We met with the National Chamber of Commerce and heard where they were. And it was all geared to women, women owned businesses, women’s capital access, you name it. The topic was there, and the more I was there that day, the more I said, These are some everyday people who want to make a difference and they’re the influencers. And it dawned on me, advocacy is where I want to hang my hat and the rest of my career as I. I’m a CPA first, but I really am involved with women groups in town. So today I want to talk about a very, very amazing organization called the Ohio Women’s Coalition and the executive director. It’s the first executive director she’s going to tell the story of of this. But it’s Rachel Winder and she has an amazing story. I’m going to let her talk first about what she does for she’s like me. She has an everyday living and then she really advocates for women. So Rachel welcomed today. And just give us, you know, tell us a little bit about you, the law firm you work with and and what you you know, what your passion is.

[00:03:23] Rachel Winder
Yeah. Thank you so much. Thanks for having me. I really appreciate it. Great to be here. So as Betty said, I’m Rachel Winder. I am. I’m a lobbyist by trade. It’s not a dirty word. We do a lot of important work.

[00:03:36] Betty Collins
It’s a good thing.

[00:03:36] Rachel Winder
It is a good thing. And I’ve spent the last 30 years working in and around the state house for various entities, and I came to Benesch Law, which is where I am now in 2013, and I started my own practice inside. It’s it’s not a legal practice. It’s a government relations practice. And I was so lucky to have been introduced to the National Association of Women Business Owners early, early on in my trajectory at Benesch, maybe in 2014, 13 and 13, 14, and I was fortunate enough to become their public policy advisor. So and their first first public policy advisor. And they, you know, including Betty, they are filled with really passionate women that understood that they needed a bigger voice.

Right.

[00:04:28] Rachel Winder
And I learned a lot through that experience. I’m not even sure like we knew and maybe we still don’t even know exactly what we need, but we knew we needed more.

[00:04:37] Betty Collins
Right? Right.

[00:04:39] Rachel Winder
Whatever that was. And so we just started picking away at things that were lacking when it came when it came to women owned businesses and public policy. And it sort of has become my passion to examine and figure out the intersection of public policy and women owned businesses.

[00:04:58] Betty Collins
Correct.

[00:04:59] Rachel Winder
So. And above Columbus. We they accomplished a lot. We did a lot with with the issues that they wanted to tackle. And one was they we created a definite Mary McCarthy brought it to us and she said we need a definition of a micro-business because a small business is defined as anywhere to 400 to 500 employees.

[00:05:21] Betty Collins
And that’s a very small number of companies in the country have that many employees. This is not that’s not a representation.

[00:05:30] Rachel Winder
It’s not a true representation. And especially for women owned businesses, a lot of our the members of NAWBO and others or were solopreneur. Right. Right. So we created a definition of a micro-business in the Ohio revised code. And it means know a company that has fewer than 20 employees, which is just close to the majority of businesses in the city.

[00:05:48] Betty Collins
See it all the time.

[00:05:49] Rachel Winder
97% of all businesses have are micro-businesses. And so now we have that definition in the revised code and we can steer programs that way that are there to benefit micro-businesses, large sized businesses.

[00:06:01] Betty Collins
Right.

[00:06:02] Rachel Winder
And then we created this amazing program, the Women’s Business Enterprise Certification Program in Ohio. And the goal of that program really is just to increase contracts to women owned businesses, not just government contracts, but private businesses. And so we created this this certification program, and it was brought to us by some great NAWBO employees, you know, Mary Korn and Sean Skinner and Jeannie Goetsch and all the names that I know, you know. And they’re so passionate and they were experiencing an issue because they wanted to compete for contracts in other states. Right. So Indiana is an example. They went to Indiana. They have a really robust woman business enterprise certification program, which means they steer contracts specifically to WBS. And our our friends Sean and Jeanie and Mary and others wanted to be certified by that program so they can compete fairly with other women on businesses that were certified. And they were told, you can’t be certified in Indiana, you have to be certified in your home state. Well, Ohio doesn’t have a certification program, so there’s absolutely no way that we can compete fairly with these other women owned businesses in those states without a program. So we put one in place, right? Nobody said we could.

[00:07:17] Betty Collins
But we.

[00:07:17] Rachel Winder
Did. It’s one of our priorities, you know. Yes, it is one of our proudest accomplishments. And now we have this WB program in Ohio. And I’ll talk a little bit more about sort of what that’s meant for Ohio. But so through my experience with NAWBO, I just learned that women needed so much more, right?

You know, and hopefully you and the audience will will think, well, I’m not certified. Well, I’m not I don’t want to get certified. I don’t need to be certified or this doesn’t apply to me. If you understand two things from this today is that there’s a lot of issues that still need advocated for women and women owned businesses. We focus mostly in the business area, but access to capital is is one of the crucial things. And so you would be surprised. So don’t don’t shut your mind down. But knowing who your representation is and especially the environment we’re in right now is crucial. And so I’ve watched and worked along this side of Rachel, and I wanted to talk about something really that I’m totally passionate about, which is this Ohio Women’s Coalition. So one day I get a call from Rachel and she said, you know, we have this thing going on called COVID and it’s March of 2020. And guess what? I’m going to let her go into it a little bit more. But tell us a little bit about the Ohio Women’s Coalition, because it’s the it is the hottest thing in Ohio women. So if you’re not a member or you’re not, you don’t know what it is. We want to make sure you do today. So tell us about it.

[00:08:52] Speaker2
Oh, I’d love to. So the Ohio Women’s Coalition started out very organically back in March of 2020, in the middle of COVID had just started. And and those of you who are in Ohio, it was it was right during the time when Governor DeWine and Amy Acton were Dr. Acton from the Department of Health were coming on our televisions every day at 2:00 and talking about everything that was happening and with COVID. And after they shut the economy down and they created this this advisory council or a panel of businesses, they they called the Economic Recovery Advisory Council, which was businesses from across the state. Well, we got I was the public policy advisor for Nabil at the time, and we got a call from some other amazing women business or women or women’s organizations around Columbus and around the state. And they were concerned that this advisory organization did not have enough representation of women, did not have enough representation of minorities, and did not have a single micro-business on on the panel. And these are the people that are making decisions on how. We’re going to open back up the economy in Ohio.

[00:10:02] Speaker1
Because it was just going to be a couple of weeks. It was just going to.

[00:10:06] Speaker2
That’s right. They’re getting ready to open it up back in April, early April of 2020. And so they all these women’s organizations across Ohio were going to join together and write a letter either to the governor or to the media or to the editor, just expressing their concern about why this organization, why this advisory committee was not representative. And they came to nab Columbus and they said, will you sign on to this? And leadership at NAB Columbus was that you were were you?

[00:10:35] Speaker1
That was myself and Michele Kasper.

[00:10:37] Speaker2
At that time. Yes. So you and others brought it to me and said, is this something that we should sign on to? And I read and I looked at it and I you know, I know the governor, you know, and I know he’s doing the best that he can do. And I know that he’s focused on trying to put this back together. And I said, let’s just see if we can get a seat at the table. Maybe we can find a spot for us, or maybe we can talk with his office and make sure that they are considering our thoughts. And so I suggested that, you know, give me an opportunity to reach out to the governor’s office and see if we can get somebody to talk with us.

[00:11:10] Speaker1
Right.

[00:11:11] Speaker2
Lo and behold. Zoom, I had never I think I had maybe been on one zoom call in my life.

[00:11:16] Speaker1
All of us had only been on one zoom call. So we get it.

[00:11:20] Speaker2
So we were able to get the governor’s advisor to the Economic Advisory Committee and all of these women’s organizations, which, in my my mind was the coolest part of this. Forget the governor’s office. This was so cool that we had all of these women’s organizations. We’re talking NABA, Columbus, NABA, Cleveland, the Women’s Fund, Weld.

[00:11:40] Speaker1
The SBA, the.

[00:11:42] Speaker2
Sba, the Dress for Success, the Asian Pacific score of Thrive. I mean, all of these people on this call and and the governor’s office, you know, he was great. He listened to us. He you know, he maybe got off after 30 minutes or so. And the rest of us stayed on. And we just talked about the issues that we’re dealing with and what we’re, you know, like. And it was just really inspiring. And so we all agreed, let’s do it again. Let’s do it again next week.

[00:12:09] Speaker1
Yep.

And so I was like, okay, well, let’s bring let’s invite somebody else. You know, let’s, let’s have a guest, but also continue talking amongst ourselves. So I, we called and I think the next week we had a woman who was sitting on that advisory committee up in the Cleveland area, and we got her to join our call and talk with her about what her experience is like and if she could help make sure that our voices are being heard. And and then the fall. And then we had another great conversation. Right then the following week, I invited a staffer from the Department of Development and they instead bumped it up to the director and they said the director would want to be on this call. And instead we got, you know, so I always joke like I usually get bumped down.

[00:12:50] Speaker1
Right, right. You got bumped up to the top.

[00:12:52] Speaker2
I got bumped up to the top because this is an audience that they want to talk with. Right. So it sort of work both ways. So long story short, we incorporated and we became the Ohio Women’s Coalition. And Betty, as you know, didn’t hesitate to jump on our board.

[00:13:07] Speaker1
Oh, absolutely. By the way, I’m the treasurer. Imagine that she’s the chair.

[00:13:11] Speaker2
Poor thing. So we got great financial advice and but.

[00:13:16] Speaker1
What the audience needs to hear of what she just talked about was. She saw something geared to women, women, business owners. It triggered something within her that said and even though she knows the governor, not all of us do. Obviously, something triggered her to go. We have to do something. We’re in that environment a lot today, but you got to do something in a way that works, right? You got to have a voice that people can hear so that then they can listen. And that was the lesson I learned in the early days. We were nothing more than every Friday at 11:00. You know, and there were some times there might have been 75 to 100 women. Hopefully I’m not inflating that. But it was like, this is what I’m going through. This is what we need. And and the traction of this group took to new levels. So then we’re like, okay, it’s not over. It’s not going to be over. It’s lasting much longer than we all thought. Right. And we said, what do we want to do? Which is that. And and I was the one who said, well, we’re just a coalition of voices, you know. And then we started thinking, how do we do that? But why did it become Ohio? You know, let’s go that it’s not just the Columbus area. Why did we go Ohio?

[00:14:33] Speaker2
Well, yeah. So I mean, we had had a lot of success with Nabil Columbus and you had said it’s a local chapter, right. But we created a statewide program, the WB, that’s for the entire state of Ohio. But what I was learning when I was talking to legislators and we were having legislative events and we were at advocating and lobbying, legislators are asking, do you have my constituents in your organization? You know, are my constituents going to be at your legislative event? And I was like, only if you’re in Columbus because we’re the Columbus chapter and those are our members. Right? But the president of the Senate and the speaker of the House are both from Lima, Ohio. They want to hear from their constituents. So so where are the women businesses in Lima? And the chairman of the Finance Committee in the Senate is from Cleveland, Ohio, and the chairman of the House Finance Committee is from Akron. And they need to hear from their constituents. And I knew we needed a statewide voice. And this just became an opportunity to be able to have the voices from every corner of the state.

[00:15:36] Speaker1
And and that’s what also, again, when you’re thinking about, I don’t know, my senator, I don’t know my rep. And yet we have people in Cleveland who are in powerful positions or in what you said in Lima. It’s not just Columbus. So. So making sure that you’re at these table with influencers and is crucial, it’s just important. And that’s why I’m all in with Ohio, the Women’s Coalition, because it is we’re just everyday people trying to get little things done. Because one thing we saw during Coban, I don’t want this to be a covered topic, but everybody had access to PPE. If you were an employer and you had employees, there was no how long have you been in business? You know, we need all your tax returns for three years and we need this and we need this and we need it was how can we help you and how can we empower you? And so we wanted to take that concept. Absolutely. Along with the Ohio Women’s Coalition. So when you look at this, you’re looking at this, you’re trying to have an intersection of policy and then the success of women business and pulling that all together. What have you helped accomplish for women business owners in Ohio so far? The coalition? What have we.

[00:16:51] Speaker2
Done? Yeah, so. Oh, my gosh, we’ve had we’ve had a lot of success. We have we’ve more to do. But, you know, I mentioned the micro-business definition. I mentioned the WB, which we created. But what, what was so crazy is the MWC. We started informally having these calls every Friday and one of our calls we invited the governor’s chief of staff. And, you know, and I ask our members and everyone on the calls, what do you need? What do you want? Access to capital. Access to capital. Access to capital. We don’t need a lot. We need 5000. It would change our businesses, you know, but we can’t get it because we don’t have we haven’t been in business long enough. And they only really all these different reasons why it’s just so hard to obtain. So we talked to the governor’s office and she invited the director of development back on our call again. And the two of them just listen to us. Two wonderful women, by the way.

[00:17:43] Speaker1
Right.

That’s Governor DeWine. They happened. Yes, he does. He’s got a great cabinet full of women. So they listened. They understood. They heard us. And out of the the budget of the state of Ohio, you know, it’s 40 plus billion dollars was introduced maybe January, February of 2021, and it included two $10 Million loan funds, one just for women owned businesses and one for minority and women.

[00:18:12] Speaker1
Microloans, right.

[00:18:13] Speaker2
$20 million. It’s crazy, you know, that that is was part of the statute we immediately went to. Work. We started, we testified in committee. We had the most pieces of written testimony of any issue in the committee that day. I testified in person and we fought to keep those dollars in the budget and they stayed. And we have these loan programs now in the state of Ohio first, first ever.

[00:18:40] Speaker1
Write.

[00:18:41] Speaker2
In the history of the state of Ohio what were women owned? Businesses were even mentioned in the Ohio revised code.

[00:18:46] Speaker1
Right. I mean, I hope you heard that first ever mentioned. I mean, that’s amazing to me. But as when we got and I honestly, I thought we’ll never get 10 million over two years or we’ll know. And it was like, wow. And you know what the really the key was? We asked. Yeah. And not only did we ask, we were ready to ask and we and you were you’ve got enough people around you again, the influencers, that’s who you needed to ask. And we did it. And so if you’re a women owned business and you’re not asking and you’re not pushing with data and with all of the things that, you know, you’re probably not going to get anything if you don’t. Right? So so when we got the 20 million or I should say really, Rachel and the Ohio High Women Coalition, there was a lot of people that were involved with that. They just all did the part that they could. We then said, we’ve got 20 million reasons to tell our story, you know?
And so we became but we’re known in Ohio, especially in the I mean, it’s a known no maybe not to the general public as much, but it certainly is within the influencer groups. So what other things, though? I know you have a minority financing advisory board. Let’s go through some of those things that has really been impactful.

[00:19:59] Speaker2
So, you know, we mentioned the WB that was created and we’re seeing we’re starting to see these ancillary impacts from the work that we’re doing that is like it literally these these kinds of things give me chills, you know.

[00:20:11] Speaker1
Right.

[00:20:12] Speaker2
But there is because this loan program is becoming so popular and women businesses are are stepping up to the table and they’re asking and they’re getting these loans they’ve given away here somewhere. They’ve been away almost three, almost 5 million so far. And we’ve got another 15 million to go. So get your loans, you know, get your loan applications in.

[00:20:35] Speaker1
Yes.

[00:20:36] Speaker2
But part of the process with the loans is the very last thing that you do is you go before this this organization called the Minority Minority Financing Advisory Board, and it has members appointed, I believe, by just the Department of Development, director of Department of Development. They might have some governor appointments, but they all have to give a thumbs up and sign off to the money that’s being.

[00:20:56] Speaker1
Which is good. That’s good accountability.

[00:20:58] Speaker2
That’s good. Right? You like that?

[00:21:00] Speaker1
Yes.

And I started attending these meetings because I want to see what’s happening with these dollars that we have advocated for. I want to know what they’re doing with them. And I look around the table and it’s it’s all men, which is fine. I mean, it’s fine. And they’re all very diverse. Right. But they’re giving away they’re interviewing these women and these women owned businesses. Where are the women? Right. And so what’s happened is they’ve recognized it that they need to be more diverse. Obviously, they need women businesses on this. You know, they do. And so they they have a gentleman who’s stepping aside to make room very good. So they’re literally making room at the table for women owned businesses, like like we talk about and, you know, sort of a imagine way. And here it is like happening, right? And there’s another open seat that they’re making sure is filled by, you know, so they’re making room for us. So that’s just been amazing. The other thing that we learned recently is the WB program is only a year old. They had we passed the bill maybe at the end of 2020 and then they had to write the rules and they had to go in and it went into effect and it’s not even been around for that long. There are nearly as many women owned businesses or women certified as women business enterprises, as minority business enterprises, which is so interesting to me because the MBA program has been around for 40 years.

[00:22:22] Speaker1
Wow.

[00:22:23] Speaker2
We’re 100 businesses off from having the same number as they do, which is just incredible to me. Like, why have we not had a voice before?

[00:22:32] Speaker1
Right.

[00:22:33] Speaker2
So that’s crazy to me. And again, like, we want to lift everybody up, you know, we’re not competing with anybody. We just want equality and everything that that is happening at the state level, public policy and everywhere else.

[00:22:45] Speaker1
Absolutely. And you know, when I look at what my mom, you know, and she my mom was a very she was interesting because she she was your typical I got married when I was not 1819 and we had kids and my dad was the patriarch he was till they were 85 until he died when he was 83. And and she will she sat my sister and I down when we were a teenager saying, you’re not going to do this now. Today, she’s like, This has just gone too far. But in her mind, she got her daughters to be educated and self independent. I’m still going. We still have things because you can’t believe that men and men aren’t bad, are making decisions on women. Right. But they’re making decisions on women owned businesses. And it’s like, where is the. So we just still have things to advocate for. That’s my point. We still have to push these things. But if you don’t ask, it won’t get done. And if you don’t say, I want to be at that table, you will never be there. You just.

[00:23:44] Speaker2
Won’t. I just want to mention one other thing that adds to my chills. You know, so we just learned from the Department of Development that they have asked every agency in the state to predict how many contracts will be going to women owned businesses for the first time in the history of Ohio. So now every single state agency that contracts for anything, and you’d be surprised how many things they contract with the prisons, contract with yoga instructors. You know, there’s there’s a lot of opportunity out there for folks that don’t think they might want to look into being certified or work with contracts. But so they, at every single state agency now has to make a deliberate choice of writing down the number of contracts that they expect to go to women businesses. So it’s no longer an afterthought. It’s a deliberate idea of where these contracts should go.

[00:24:32] Speaker1
And that’s the success of Indiana. So when you look at a state like Indiana, they have benchmarking, which everyone always kind of hates benchmarking and maybe affirmative action type things. But it’s like if you don’t start there, it’s all just really good rhetoric, you know? So there has to be some accountability to it, you know, that, hey, this is is this is something that we have to achieve. So that’s, in my mind, is a great start.

[00:24:57] Speaker2
Start. It’s a great.

[00:24:58] Speaker1
Start. Hey, we’re asking the question, are we making sure we’re doing that? And that’s that’s that is chilling. I mean, that really is that definitely is. So and what’s interesting about how women’s coalition I do want to make this clear. It’s very bipartisan because I don’t really I’m kind of a conservative by nature in many respects. So I’m kind of the sometimes the outlier in the room. But I don’t care if I’m with an independent or a liberal or a moderate Democrat or a right winger or whatever you want to call everybody, if they understand the passion behind the women’s coalition, we’re going we want them to hear us. You know, we want to have our voice with them because you just never know who’s going to be the one that you that that influence is going to go. I might be over here. I might be over here, but I can I get it? I get what you’re saying. And so we’re very bipartisan. I want to make sure people understand that. But you’ve accomplished a lot. I mean, it’s really amazing what you, the board and how our members are growing. Our sponsors are stepping up. But what’s next? What’s next for the IWC? What do we got coming.

Oh goodness.

[00:26:05] Speaker1
So because you can’t top that year I think, but I shouldn’t.

[00:26:08] Speaker2
Say I don’t know. Well, well so we have to protect our our 20 million. We have a, we have a budget every two years. We got to make sure that and maybe it should be more.

[00:26:16] Speaker1
Well, I want to put this out there. The Ohio Women’s Coalition is in its infancy stage and has accomplished this much. It’s in a very embassy stage for a non profit. So to go and say, yeah, we influenced and got $20 million in the budget for a state in like year one, maybe a little bit. I mean, you’re like, wow, so what’s but what’s next? Yeah.

[00:26:38] Speaker2
By the way, because we’re in our infancy, we’re growing. We need members. We need board members. So if you’re listening to this and you want to be a part of it, you can be you can help us figure this out because we’re still young, very, very young.

[00:26:52] Speaker1
We’re any treasures out there, any CPAs out there? I’ll move over to something else.

[00:26:56] Speaker2
Yeah. Yeah, well, we have a great treasure. So what’s next? So you talked about metrics in Indiana, right? So they’re sometimes referred to as like set asides or goals, right? So they set aside a certain percentage of contracts and those set asides go to whatever preference program, whether it’s minorities or women or and then there’s goals, right? Which is they don’t it’s not a mandatory, but agencies need to aspire. Right, to hit a number of those many contracts going into women businesses. And in Ohio, we have four different preference programs. We have a minority business enterprise program that has a 15% set aside. So 15% of contracts go to minority certified companies. We have an EDGE certification, which is economically disadvantaged companies. If you get certified there, there’s a 5% goal. So agencies are try to aspire to give 5% of their contracts and it can be a subcontract to you can be a sub on a prime contract. So 5% goal, veteran business enterprise certification, certified companies have an extra point. So when they put a bid in their score, they get one extra point if they’re a certified veteran and then the WB, the women’s business, they have nothing. So we don’t we don’t have a goal. We don’t have a set aside. We don’t have a and.

[00:28:11] Speaker1
All these other things.

[00:28:11] Speaker2
Do all these other things do. Right. So we do know that there’s the whole system needs to maybe be revamped and looked at. So that’s certainly something that we’re. Advocating. We’re talking to the powers that be about that. That doesn’t really work. Maybe we need to take a step back, have an umbrella type program where everybody fits under it or something that makes sense. But before you even know what it should look like, you need to understand the data. And so and you need something in place called a disparity study. And that has to be a statewide state sponsored study that courts can use if these programs ever get challenged. So if you’re a minority or a woman business and you win a contract and somebody who lost the contract is upset about it, files a lawsuit over this, these programs. You need that disparity to defend yourself. And there hasn’t been the state of Ohio does and there hasn’t been one done. I couldn’t find one, actually. I did research. It’s at least 20, I think more like 30 or 40 years that one has been done, if it’s ever been done. So we are advocating for the state to fund a statewide disparity study.

[00:29:14] Speaker1
And what would be in that for anyone who maybe they don’t know what I mean? I never understood that the power of data until I have been involved with it. So what would be in a disparity study?

[00:29:25] Speaker2
So, you know, I don’t know if you were I’m sure you recall we met with Governor DeWine. A bunch of us sat around the table. We met with Governor DeWine. And we said to him at the time, hey, we need goals for women and businesses. We need we need to require your agencies to give us contracts. And he goes, How do I know that you have the capacity in the state to respond to? I’m going to put an arbitrary number on my agencies and tell them that they have to hire these. But I don’t even know if we have these specific businesses that are owned by women. Women. So how do we.

[00:29:53] Speaker1
Right.

[00:29:54] Speaker2
And so that’s what you’ll find out. Like you’ll find out not only what how is the state been doing in the way that they contract? Are they contracting fairly equally or is there a disparity, a proven disparity with using data? The city of Columbus just did one. They found that there were disparities. They found that there were underutilized companies and they found in some instances there were not disparities. So that’s what we hope to learn. But on a statewide basis and then also the capacity of the of the companies in the state. Right. And then they they will have recommendations on how to even out whatever they find. And maybe, you know, maybe we’re doing great. I doubt it. But maybe.

But we don’t know.

[00:30:31] Speaker2
What we don’t know. Right. And so even even legislators that are by nature do not support these preference programs. And I understand it, it’s certainly not they’re terrible. I mean, to get certified as a burden, you know, so that’s something else we’re doing is trying to ease that certification process so it’s more streamlined. Right. But we just want to we just want to see what’s out there. And we want recommendations put in place by you utilizing the data so we can just change the way that things are done in Ohio for the better.

[00:31:00] Speaker1
And studies make so much sense. I mean, like with Nabil, there’s a person she owns Measurement Resources, Sheri Chaney Jones, and she’s great because she can come up with not just women. It’s not fair. It’s like, by the way, here are how many women owned businesses owners we have. Here’s how many are under this revenue. So here’s how here’s how women are paid versus because she’s gone out and she’s gotten real data. Yeah. And again, when you put that in front of your influencer, it’s it’s huge. So a disparity study would be great. What other things do you feel like you’re going to what’s next? What’s on the agenda?

[00:31:37] Speaker2
Oh, well, I mean, so so we’re starting to we talk about government contracts a lot, but the private industry, the private sector, also, these especially the larger businesses they contract all the time to and and supplier diversity is the buzzword of the day. Right. And these companies, a lot of times don’t know where to find the where are these diverse suppliers. Right. So we’ve recognized that the Ohio Women’s Coalition is an opportunity for suppliers to get in front of hundreds of women businesses who want to work for these companies, hundreds of hubs in the state. So as an example, we have a we have a guest coming at the end of June. I don’t know when this is going to be heard the end of June, June 17th or so. If it’s already passed, you call us, we’ll tell you about it. But the national supplier diversity director from Intel is going to be joining the Ohio Women’s Coalition, and they have $500 million set aside for women owned businesses. So we’re going to talk with the the head of that that initiative. Right. And we’re going to she’s going to tell if she wants. She was excited to get in front of us. So we’ll learn about that. And we also have some interest from Ohio Health. We have some interest from Wright State. And so we’re trying to connect, be a connector for these women and the supplier diversity folks. And then I mentioned, you know, we got to replenish the loan program and we got to streamline the WB certification process and all the certification processes. So those are a few things.

[00:33:09] Speaker1
People do get really wrapped up in the certification, all the paperwork, and I got to hire a consultant to get it because I can’t keep getting denied or they keep sending it back. And so that streamlining. Would be huge, but we got to keep the budget now going. But that’s exciting about meeting with Intel again. We just you know, Rachel was really triggered by a committee that she saw that was not representing the business community, which is a lot of women owned business are are the ones who keep starting them. And so now here we are. We’re going to be in front of this large, large change to the region called Intel. And we’re going to be at the table.
Yeah, you know, just started out with we got to make a difference. And but you also have to make a difference. You’ve got to be prepared. Nothing is easy, but you can make it easier. I mean, that’s, you know, so in the certification process, you know, for me, I am a shareholder at Brady where but I’m not I don’t have enough. I mean, there’s 21 of us. So it doesn’t really apply to me, right? I mean, it can in some ways. But but for you that are in the audience going, that’s not me and we’re not advocate. There’s so many women’s issues we could be advocating for, by the way, that we said we’re going to narrow this and keep it focused, but maybe one day you’ll have a staff of 20 and we’ll get to do all this.

[00:34:21] Speaker2
Right. Well, just real quick, you just reminded me that the WB these loan these loan programs they put in place, they put the parameters around what you have to do in order to be eligible for the loans and they’re requiring in the micro loan program that you are WB or MHB certified right so even if you don’t do government contracting, you can get access to these 3% loans. And then the WB loan program, which is a larger loan program, they’re not requiring that you’re certified. And so if you’re not certified, you’re and you do win a loan or you know was the.

[00:34:56] Speaker1
Yeah, well yeah. You’ve won the lottery. Yeah. No you get the loan.

[00:34:59] Speaker2
If you get the loan you’re eligible for the loan. It’s a, it’s a 3% interest rate but if you are WB certified, it’s a 1.5% interest rate and I said 3% on the NBB it’s not I’m sorry it’s 0% in the micro loans. So these are the loans that we’ve created is that we’re going to replenish in this next budget. Right.

[00:35:19] Speaker1
So what I would tell you is get educated about what these things mean instead of making an assumption this doesn’t apply to me. I mean, really dive in. And as women in this audience, in key women in management or players in organizations or you own your own business, this is the moment to grab, right? Oh, and the RWC. So tell us your five and ten year plan and hey, you’re going to retire as the executive director of the Women’s Coalition, right?

Oh, my gosh. I mean, I don’t you know, when I think ahead five or ten years, I honestly I mean, I just I think there’s just no stopping us. I don’t know. I just we just need to grow. Where are we going to be in 5 to 10 years? I look at us like I want to be the like an Ohio Chamber or like a NFIB, which is the National Federation of Independent Businesses. I want to be big and powerful, and I want people to continue to listen to us. And I want people so what? We just need support. We need members, we need sponsors. We need people who are passionate about what we’re doing. It’s really cheap to be a member. You know, we try to make it affordable.
It’s 100 bucks, $135. I think for the year we really tried to make it affordable, but we want lots of lots of people to come join with us.

[00:36:33] Speaker1
You know, one of the things that why the coalition took off so much was those Friday calls had, you know, 50, 70, 100 people on them. And you’re your influence, your senators, you’re representing your directors in the government, the governor’s office. They saw the power and number. They’re like, this is like a lot of people. So, okay, so so that’s a reason to really join. And you also are supporting other women business owners, you know, and it’s again, it’s we’re not going to get you with all these fees and all we’re going to be really reasonable and how we’re going to get you involved. So so why though beyond hey the influencers and and we’re making change and we had a we had an I mean, amazing basically about 18 months, two years and made so much progress. I can see 5 to 10 years you’re accomplishing this. Right, but what are the reasons would you support or join the WC beyond that? I mean, I love the camaraderie of it all, I can tell you.

[00:37:35] Speaker2
Yeah, well, I mean, it is great. You know, we just we some of my favorite moments were when our special guest and we’ve had the lieutenant governor, we’ve had the secretary of state twice. We’ve had director of development a couple of times. You know, we our legislators, you know, we’ve had the editor of The Dispatch joined us. I mean, yes, we’re bringing these amazing people to the table. So you get sort of a firsthand view of of of these folks and what they do. And you sort of have a front row seat. I mean, and we do zoom it just to make it convenient. We’ve done a couple of in-person events. We have a great event coming up.

[00:38:09] Speaker1
Let’s talk a little about that. Just why you joined. Because this is this is real stuff.

[00:38:13] Speaker2
So, you know, Betty is passionate about advocacy. Right. And that’s what we’re trying to do. We are an advocacy organization. And that’s why we exist. We’re not necessarily a networking organization, but you need to network with your legislators. You need to network with the influencers and the people, and you need to know them. So when you when you need to ask for something, you already know them. So the upcoming Women’s Leadership Conference, which Brady Wares is helping to sponsor along with the SBA. And I think the better.

[00:38:41] Speaker1
Business, the Better Business Bureau. Yes. Yeah, we started this conference already. We we started this conference in 2014. And so this is our ninth year. And what I wanted to do this year was include a lot more advocacy with it, because last year we were virtual, which was not my preference, but we still had 164 people registered and we had 102 to 110 people were there on it all day. But at noon, Governor DeWine came in and zoomed in. And people, you don’t have to like him. You can love him. But it was the governor of Ohio was there. And so we’re going to have some really cool stuff throughout the day at this conference on June 24th. You really definitely want to check it out. It’s on Brady Wares website, but it’s the Women’s Leadership Conference. And so tell us about what your firm is a sponsor. Yes. And we’re going to have some fun with I know we can’t tell who’s going to be there yet because a lot of times they can’t commit till it gets out. But tell us a little bit about how advocacy in your firm is going to play a role in it?

[00:39:40] Speaker2
Oh, well, we definitely so we have some invitations out to some high level folks. We did get confirmation that the director of the Department of Development, Lydia Mihalic, is going to be speaking to us at lunch, which is amazing. And she is the person she just inherited all of these preference programs. So she’s trying to learn about them and she’s in a position to change them, you know, and and so she’s really passionate about what we’re doing. She also controls the loans. I mean, it’s her agency that’s giving up. So so she is. And she’s the one who’s asking other agencies, how many contracts are you going to give to women businesses? So she is just a huge supporter. You know, when I sent her an email, when I saw these these dollars in the budget and I said, oh, my gosh, thank you, thank you, thank you. And she responded to me with one sentence. We heard you. I mean, I like it’s crazy. It’s like, wow, you know, advocacy really does matter. So Lydia’s going to be there. And then at the end of the day, we’re going to have a really fun, relaxing reception right in the hotel, the same area. And we’re inviting policymakers and public officials and candidates. And you’re going to be in the room mingling with folks that are going to be making decisions about things that impact you on a daily basis, not just in your business, but your personal life, wherever. And and so we’re really excited about that. It’s important. And that’s going to be, I think, what, 330 or 4:00?

[00:40:59] Speaker1
Yeah. So the conference is is an all day conference. But if you just can only come to advocacy, you can come. The only downside is you have to pay for your own drinks and the cocktails. If you attend the conference, you actually we have five women who have stepped up right now to pay for the cocktails for that for that hour and a half, it’ll go 330 to 5. But we’re going to have players in the room. So why wouldn’t you want to be there, right? Why wouldn’t you want to come to it? But last year, Rachel was so supportive in her company, Benesch was so supportive in sponsoring this. And they’re doing it again this year. And then this year we’re going to bring a lot more players and we have some other surprises, maybe hopefully for that, but that will be there that day. But it was really, really it’s going to be impactful. So you want to be there.

Let me just tell you that Mary McCarthy and Betty Collins know how to put on a conference. They know how to put it’s it’ll you will leave inspired you will be interested throughout the entire day. There’s actually too much on the agenda I want to do more than right. The time even allows for us to do right, but they’re always great.

[00:42:00] Speaker1
Because we’ll kick off with a really great breakfast speaker. She’s she just wrote a book. It’s on it’s doing really well on Amazon. And and then we’ll have a national speaker, Cindy Solomon, at lunch. We’ll have 15 breakout sessions. So you can choose through the day. There’s exhibitor tables if you even want to do that. And in in 2019, we had probably I’m going to say 250 people there all day, and we had another 70, probably 50 to 70 for lunch. I mean, it’s well attended to have to have 2020 where I had to just cancel it. It wasn’t appropriate with health and everything and the uncertainty of that time. And then for 21 to still have that many people because we just had great speakers. So at the end of this podcast we’ll get you actually where you can register and be a part of it. So make no mistake about Benesch law. Rachel Winder we’re going to have really good influencers in the room throughout the day. And you you don’t want to miss that part of it. But I really appreciate you coming on today. And if you want to know more about the Ohio Women’s Coalition and yourself, where can the audience find you?

[00:43:06] Speaker2
So definitely check out our website. It’s WW Ohio Women’s Coalition. All one word dot org org and I actually bet you’ll be proud of me. I’ve upgraded the website I’ve been. I figured out how to do that. We’re still in our infancy. We also need some website design. If you do website design, check us.

[00:43:27] Speaker1
Out. Yep.

[00:43:28] Speaker2
But w w w dot Ohio Women’s Coalition dot org. Please join us if you can. And all my contact information is on there, including my cell phone. Call me.

[00:43:37] Speaker1
Yep.

[00:43:38] Speaker2
I’d love to talk with you. Join us if.

[00:43:39] Speaker1
You want to talk more about some of these topics, whether it be certification or how do I get involved with these loans or those I mean, the WC is going to be able to give you that. They’re going to get the information. So today we didn’t talk about politics and we we try not to talk about CO but as little as possible. But we did talk about the importance of influencing and Ohio’s women coalition is doing that and we as women whether we’re in business or not or we’re key players or just we just want to help women. We want to help further things along and empowerment, make sure you’re in the right room with the right people. O How? W w is what we call the High Women’s Coalition can get you there, but I appreciate you listening today and I appreciate that I have this opportunity to hopefully inspire you in some manner. And this is Betty Collins. Have a great day.

Automated transcription by Sonix www.sonix.ai

Tagged With: Betty Collins, Ohio Women's Coalition

Chelle Hartzer, 360 Pest and Food Safety Consulting, and Olivia Garza, Acton Academy Alpharetta

June 7, 2022 by John Ray

Acton Academy Alpharetta
Family Business Radio
Chelle Hartzer, 360 Pest and Food Safety Consulting, and Olivia Garza, Acton Academy Alpharetta
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Acton Academy Alpharetta

Chelle Hartzer, 360 Pest and Food Safety Consulting, and Olivia Garza, Acton Academy Alpharetta (Family Business Radio, Episode 32)

Host Anthony Chen welcomed two outstanding guests, Chelle Hartzer and Oliva Garza, to this episode of Family Business Radio. Chelle, a self-described “bug geek,” is an entomologist with her own consulting practice, 360 Pest and Food Safety Consulting. Chelle discussed how she works with small to medium-sized pest control companies as a fractional trainer and consultant, her work with museums, zoos, and other organizations with special bug-related issues, why successful pest control is more preventative than treated related and much more.

Olivia Garza, Owner of Acton Academy Alpharetta, discussed the unique, learner-driven model of the school, why she started Acton Academy, what makes the school unique, the focus on subject mastery, and much more.

In Anthony’s closing comments, he spoke on why planning for the passions of your children is such a vital aspect of financial planning.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network.

360 Pest and Food Safety Consulting

360 Pest and Food Safety Consulting works with companies to solve their pest problems faster. As an independent assessment of the issues, their programs, and their services, 360 PFSC can get to the root of the issues, improve pest control programs, and put preventative measures in place to avoid pest problems in the future.

 Website | LinkedIn |  Facebook

Chelle Hartzer, Owner/Entomologist, 360 Pest and Food Safety Consulting

Chelle Hartzer, Owner/Entomologist, 360 Pest and Food Safety Consulting
Chelle Hartzer is the consulting entomologist at 360PFSC and has been working with the pest management industry for over a decade. She helps small and mid-sized pest control companies by providing them with expert troubleshooting, the most up-to-date technical information, quality training, and much more.
By solving pest problems faster and more effectively, companies reduce call-backs and increase customer and employee retention.
Chelle holds a BS in Entomology with a wildlife conservation concentration from the University of Delaware and an MS in Entomology from Kansas State University as well as being a Board Certified Entomologist in Urban and Structural Entomology.
She is also a Preventative Controls Qualified Individual (PCQI) and earned her Lean Six Sigma Green Belt.
LinkedIn

Acton Academy Alpharetta

Acton Academy Alpharetta is an affiliate of the Acton network founded in Austin, TX 12 years ago by Jeff and Laura Sandefer.

Acton Academy is dedicated to inspiring each child to see life as a Hero’s Journey, where someone with curiosity and character can find a ‘calling’, using his or her most precious gifts, in a way that brings great joy, to solve a deep burning need in the world.

At Acton, they believe each child who enters Acton Academy will find a calling that changes the world. Their Heroes are independent learners who find great joy in learning, in a tight-knit community that upholds the highest standards of excellence.

Website | Facebook

Olivia Garza, Owner, Acton Academy Alpharetta

Olivia Garza, Owner, Acton Academy Alpharetta

Olivia Garza, the founder of Acton Academy Alpharetta, is a mom on a mission to bring a new wave of educational reform to the community.

As a mom of two kids, balancing homeschooling and long-term corporate roles in I.T. and digital marketing, she wanted more than just the traditional educational model and curriculum for her children and decided to open an Acton Academy serving the Alpharetta/Milton/Cumming area in 2020.

Currently, there are around 300 Acton Academies across the world.

LinkedIn

Anthony Chen, Host of Family Business Radio

Anthony Chen, Lighthouse Financial, and Host of “Family Business Radio”

This show is sponsored and brought to you by Anthony Chen with Lighthouse Financial Network. Securities and advisory services offered through Royal Alliance Associates, Inc. (RAA), member FINRA/SIPC. RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA. The main office address is 575 Broadhollow Rd. Melville, NY 11747. You can reach Anthony at 631-465-9090 ext 5075 or by email at anthonychen@lfnllc.com.

Anthony Chen started his career in financial services with MetLife in Buffalo, NY in 2008. Born and raised in Elmhurst, Queens, he considers himself a full-blooded New Yorker while now enjoying his Atlanta, GA home. Specializing in family businesses and their owners, Anthony works to protect what is most important to them. From preserving to creating wealth, Anthony partners with CPAs and attorneys to help address all the concerns and help clients achieve their goals. By using a combination of financial products ranging from life, disability, and long-term care insurance to many investment options through Royal Alliance. Anthony looks to be the eyes and ears for his client’s financial foundation. In his spare time, Anthony is an avid long-distance runner.

The complete show archive of “Family Business Radio” can be found at familybusinessradioshow.com.

Tagged With: 360 Pest and Food Safety Consulting, Acton Academy Alpharetta, Anthony Chen, Chelle Hartzer, food safety, Lighthouse Financial Network, Olivia Garza, PCQI, pest management

The Financial Side of a Professional Services Firm: An Interview with Profitability Coach Bill McDermott

June 7, 2022 by John Ray

Profitability Coach Bill McDermott
North Fulton Studio
The Financial Side of a Professional Services Firm: An Interview with Profitability Coach Bill McDermott
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The Profitability Coach

The Financial Side of a Professional Services Firm: An Interview with Profitability Coach Bill McDermott

Profitability Coach Bill McDermott, who works with law firms, engineering firms, consulting firms, and other professional services practices, joined host John Ray to discuss the financial side of a professional services firm. Bill discussed why he started his practice and how it has developed, when to take on debt, the biggest financial mistakes he sees, buying hard assets such as real estate, planning for an exit, and much more.

The Price and Value Journey is presented by John Ray and produced by the North Fulton studio of Business RadioX®.

 Bill McDermott, The Profitability Coach

Bill McDermott, The Profitability Coach

Bill has worked with hundreds of business owners. They are good people with their hearts in the right place. What they don’t have is the perspective to see the blind spots in their business. Knowing which levers to pull and when to pull them can lead to a thriving and profitable business.

He loves to help business owners have the business they want by becoming better financial managers.

Bill McDermott graduated from Wake Forest University and launched a career in banking that spanned 32 years. He first started out as the “repo man” as part of Wachovia Bank’s management training program before locating to Atlanta to work for Peachtree Bank, which later became SunTrust. There, he distinguished himself as a great producer of loans and deposits for the bank, climbing the ranks to ultimately become a Group Vice President in the Commercial Banking division. In 2001, Bill’s group won the SunTrust Cup for being the highest performing commercial banking group in the company.

Over the next 8 years, Bill worked in community banking, becoming a top producer for IronStone Bank and later helping to double Embassy National Bank’s initial capital in loan production within 15 months. However, in early 2009 as the Great Recession was rapidly altering the economy, Bill’s position as Chief Commercial Lender was eliminated.

As Bill searched for what was “next”, he realized that he had a desire to share the treasure trove of knowledge of banking and financial acumen he had built. Bill combined his sales success from his banking/insurance experience with his deep financial/analytical skills and launched McDermott Financial Solutions in April 2009. His purpose quickly became “making business owners better financial managers”. Over the past 11 years, he has served over 200 clients by delivering results-oriented insights, helping to take them from financial confusion to financial clarity.

Bill currently sits on the board of directors for Pinnacle Bank. He also hosts a monthly podcast, ProfitSense, which features stories of successful business owners and the professionals that advise them. When Bill is not working, you can find him on the golf course, gardening, spending time with his family, and leading a small group at his local church.

Website | LinkedIn | Instagram

 

TRANSCRIPT

John Ray: [00:00:00] And hello again. I’m John Ray on the Price and Value Journey. And I want to welcome Bill McDermott to the show. Bill is here to chat about the financial side of a professional services firm.

John Ray: [00:00:13] Just a little background on Bill. Bill is the founder and CEO of McDermott Financial Solutions. He serves as a profitability coach to his clients, which include a lot of professional services firms. When business owners want to increase their profitability and they don’t have the expertise to know where to start or what to do, Bill leverages his talents, his knowledge, and his relationships from 32 years as a banker – somehow he made 32 years. I’m going to have to ask him how he did that – to identify the hurdles that get in the way, and create a plan to deliver profitability that his clients never thought possible.

John Ray: [00:00:57] Bill also serves as a treasurer for the Atlanta Executive Forum. He’s previously held positions as a board member for the Kennesaw State University Entrepreneurship Center and the Gwinnett Habitat for Humanity Chapter. And he has been treasurer for CEO Netweavers. He’s a graduate of Wake Forest University – go, Demon Deacons. And he and his wife, Martha, are just about to celebrate anniversary number 45. Congratulations on that, Bill. And I have to plug his podcast, ProfitSense with Bill McDermott, coming up on three years, right, Bill?

Bill McDermott: [00:01:36] It is. And it’s a pleasure to be here, John. Thanks so much for having me.

John Ray: [00:01:40] Absolutely. So, I want to give a little background on you. You spent three decades as a banker, how –

Bill McDermott: [00:01:54] How did I survive?

John Ray: [00:01:55] Well, you could certainly answer that question. But, I guess, how did you come to the choice of the practice that you started?

Bill McDermott: [00:02:05] Yeah. That’s a great question. I’ll give you the short version of a longer story. So, it was April of 2009, we had just entered The Great Recession, we were in a banking crisis. And the CEO of the bank that I was working for at the time walked in my office – it was actually on my wife’s birthday – and he said, “Bill, you’re doing a great job, but we’ve got to cut cost. You were the last one in, so you’re the first one out. We’re eliminating your position.” And I was done.

Bill McDermott: [00:02:36] And so, we had two daughters in college. I had to figure out a way to earn an income. So, first thing I did was pray. And I said, “Okay. You’ve closed the door. Open a window, and would you mind putting a little neon around it for me so I can see it?” But all kidding aside, in 32 years of banking, I saw that business owners were usually great salespeople or great operations people. Where they struggled was in the area of financial management. They didn’t learn it in school. And when you’re the owner of the business, there’s no on-the-job training because the buck stops with you.

Bill McDermott: [00:03:16] So, part of my why is, because I saw business owners struggle with financial management, I said, “Can I launch a business leveraging my expertise and knowledge in banking and help business owners become better financial managers?” So, the business started with that in mind. And my goal is to really, hopefully, leave a legacy of making business owners better financial managers in their business.

John Ray: [00:03:41] And you just celebrated a business anniversary, speaking of anniversary.

Bill McDermott: [00:03:45] Yeah. So, April was 13 years, and still going strong.

John Ray: [00:03:51] Congratulations.

Bill McDermott: [00:03:53] Yeah. Thank you so much.

John Ray: [00:03:54] That’s awesome. I think a lot of professional services practitioners, they get into business and then they pivot along the way, not pandemic related pivot, but their business morphs naturally. Yours has morphed along the way. Why don’t you explain that and kind of the decision points around that.

Bill McDermott: [00:04:17] Yeah. So, when you’re in the middle of a banking crisis, a lot of businesses are losing money. And so, I actually started negotiating workout plans on behalf of the business owner with their bank. You know, who better to negotiate a problem loan? A banker with another banker.

Bill McDermott: [00:04:37] And so, I successfully did that for several years. I had one client that I actually worked with for three years. We started with $16 million in debt, worked that down to a million. And, actually, the bank drew a line in the sand and said we’re not renewing anymore. Forced us into bankruptcy. And the bank eventually settled for $0.10 on the dollar, so we got $1,000,000 for $100,000 and, basically, negotiated out. So, that’s really how I started.

Bill McDermott: [00:05:10] When you negotiate a problem for a business owner, you become on the team because you two have been through it together. And so, what then happened is I had business owners asking me to come out and sit with them and go through their monthly financials. Well, I’m not the sharpest tool in the shed, but pretty soon I figured out, you know, a monthly meeting going over financial performance with the business owner, I’m coaching them how to be better.

Bill McDermott: [00:05:45] And so, what morphed is, is doing workout loans, actually became a practice where I’m coaching business owners on how to be better financial managers. And then, probably sandwiched between that is I have some of my clients want to leverage my banking expertise, and so I would help them find financing if they were buying a building, if they were getting a large piece of equipment, maybe that business owner who thinks they need a line of credit.

Bill McDermott: [00:06:12] By the way, best time to borrow money from a bank is when you don’t need it. Anyway, that’s maybe even another podcast for another day. We’ll go there.

John Ray: [00:06:20] When you don’t need to hire Bill McDermott, right? I mean, you get the folks that really need that financing, right?

Bill McDermott: [00:06:28] Yeah, exactly. And so, from workouts to financing, and then to the profitability coach. And that’s kind of been my path.

John Ray: [00:06:38] Wow. So, let’s describe for folks that don’t know what does a profitability coach do. You say you look at financials every month, but there’s more to it than that.

Bill McDermott: [00:06:47] Yeah. There really is. So, I’m going to start by saying that a profitability coach, first, speaks the language of business. Warren Buffett was quoted as saying, “Accounting is the language of business. And you, as a business owner, not only need to learn how to speak it, but how to become fluent.” And that language actually comes out in the form of reports, balance sheet, profit and loss statement, cash flow statement.

Bill McDermott: [00:07:17] Where I help a business owner is, most business owners understand their profit and loss statement. They generally don’t look at their balance sheet. And they hardly ever look at their cash flow statement. And so, what a profitability coach does is analyzes the trends in the business, helping that business owner see those trends, asking questions about what might be driving those trends, and then helping them make decisions.

Bill McDermott: [00:07:43] But probably the biggest thing, John, is, if you own your own business, you’re not accountable to anybody. And so, part of what a profitability coach really does, or any business coach for that matter, is holds that business owner accountable for, not only the dreams that they have, because those dreams usually convert to goals and those goals convert to plans, but somewhere along the way – it’s kind of like, you know, all of us want to lose weight January 1. And so, the gyms and the exercise places fill up for about two weeks. But after about the first two weeks they’re done. Well, nobody’s holding them accountable – part of what a profitability coach does is, not only help them become better financial managers, but holds them accountable to what their dreams and their plans and their goals are.

John Ray: [00:08:31] So, really, it sounds like your knowledge of the financials, how to read the financials, and the business owners knowledge of the business, and what’s going on day-to-day meet, essentially, right?

Bill McDermott: [00:08:44] That’s exactly right. Because, you know, part of that three decades in banking, I literally looked at thousands of financial statements because I had to look at financial statements to determine whether that business owner could borrow money or not. And so, the ability to interpret those financials helped me become trained in helping that business owner.

Bill McDermott: [00:09:05] So, you’re absolutely right. Generally, if a business wants to improve, there are really about five things that they need to look at. There’s either a people aspect of their business, there’s a strategy aspect, there’s an execution issue, there’s a process issue, or there’s a money issue. And so, people, process, strategy, execution, and cash are usually things that business owners need to pay attention to in order to be successful.

John Ray: [00:09:37] So, for those that don’t know, what’s the difference between a profitability coach and a fractional CFO? And when do you bring these different roles in? Or are they different?

Bill McDermott: [00:09:51] They’re absolutely different. So, right now, I have a very successful client who has basically managed the financial aspect of their business for 30 years. He still wants to keep me as a coach, but he doesn’t want to do financial management anymore, so he has hired a part time CFO to come in and run the business.

Bill McDermott: [00:10:15] Because having someone fulltime, first, it’s not that big a job and he doesn’t want to pay $200,000 a year, whatever a CFO gets these days. So, you want to hire a part time CFO if you just don’t want to have to be involved in the financial management of the business. You want a part-time CFO. Or if you want to do that yourself, you can. But, again, you better be able to speak the language.

Bill McDermott: [00:10:45] Now, actually, I will tell you, I coach a lot of business owners that have a part-time CFO and, primarily, a lot of that CFO role is about accounting. They make sure that they have all the debits and credits entered into QuickBooks or whatever accounting software is used. They’re able to generate the reports. But, generally, everything that that part-time CFO does is really about the past, because accounting is accounting for the past. It doesn’t really have much to do with the present or the future.

Bill McDermott: [00:11:18] So, kind of where they leave off is where I pick up. And we start talking about what are your goals for this year or this quarter, and where are you in relation to getting those goals accomplished. And, basically, working together with them, holding them accountable to what they want to do for the future, not necessarily focusing on the past.

Bill McDermott: [00:11:42] So, you can have both, but there is a difference. Most of the time, the part-time CFO is directly responsible, involved with financial management. But that CFO doesn’t really hold the business owner accountable to what their goals and dreams are. And so, that’s really what I’ve been doing as a profitability coach, helping them achieve their goals and dreams and become more profitable.

John Ray: [00:12:04] Do you find you can be in those cases a little more, maybe direct is the word, with the business owner, more of their mother-in-law -maybe that’s a bad metaphor – but you can be a little tougher when needed?

Bill McDermott: [00:12:20] I think part of it. And you said direct. I’ve had a few clients call me blunt, which I can be more than direct at times, and I’m working on that. But, no. I think, yeah, if someone is paying you to give advice then, by golly, they should take it.

Bill McDermott: [00:12:45] And I did give a lot of free advice when I was in banking because as I was looking at the financial statement, especially if I had to decline someone, I said, “Look, you, as the business owner, made $100,000 in profit, but you took out 75,000 in distributions. So, you only have a fourth of what you made available to handle the growth of the firm and pay back a loan if you choose to borrow.” And so, just little things like that are the things that I’ve done. But, yeah, sometimes you do have to be direct. And, again, if I’m holding someone accountable by being nice, I’m not really helping them.

John Ray: [00:13:28] Yeah, for sure. So, this show is designed for solo, small firm, to some degree, medium sized firm professional services providers, let’s talk about the needs here. I mean, at what point do you think a solo firm, a solopreneur, needs to hire a profitability coach?

Bill McDermott: [00:13:56] That’s a great question. And I want to be respectful, there are a lot of people out there that believe in doing it themselves. That is a totally valid way. But it’s interesting, there’s a guy by the name of Doug Tatum, Tatum CFO, who wrote a book titled No Man’s Land. And that book was really about his experience as being a CFO where growing companies fail. And he talks about the five M’s.

Bill McDermott: [00:14:27] John, so to your question, when do you feel like you should hire a profitability coach, one of the M’s that he mentioned is momentum. If your business has lost momentum, if your rate of sales is either decreasing, flat, or not increasing in proportion to what you’re expecting, you might want to hire a coach.

Bill McDermott: [00:14:47] Another thing is marketing. Marketing is the number one weakness in a growing firm. And so, if you’re not properly identifying your brand, to your point, about value, if you’re not sure of your value in the marketplace, you might need some help there. So, momentum marketing, management. Growing firms, growth, it makes businesses more complex. And so, you may have management issues that you need to address.

Bill McDermott: [00:15:21] Fourth, M is money. You know, when you’re growing, as you know, growth always requires cash. And if you have this big crazy number in accounts receivable and you’re complaining about a low bank account, well, by golly, then get on the phone and collect some of those past dues.

Bill McDermott: [00:15:38] So, marketing, momentum, management, money – I’m trying to remember what the fifth one was and it escapes me right now. But, in essence, I would think that you would hire a coach if you find yourself not hitting on all cylinders in some of those things.

John Ray: [00:15:54] Right. Right. So, I’m curious, it sounds like – you just answered the question I was about to ask – the biggest mistake solopreneurs make is not hiring outside help fast enough.

Bill McDermott: [00:16:12] Yeah. And so, part of my questions, because I want to be sure that the particular person that I’m talking to is really interested, and so I might ask them, “Look, if you’re in your car and you’re lost, do you keep driving or do you stop and ask for directions?” And the people that are probably going to keep driving kind of identify themselves as “I’m kind of a do it yourself-er. By golly, I don’t really need to stop and ask for help.” But those that ask for help, I want to help them.

Bill McDermott: [00:16:51] So, I worked with a professional services practice for about three years. When I started with that practice, a lot of their receivables were reimbursements from insurance companies. And what I saw was a huge amount of accounts receivable, and a lot of them were 60 or 90 days outstanding. Insurance companies are horrible at paying claims. You know, they’re paid to hold on to their money, not pay it back to the service providers. And so, we were able to devise a plan where she had a person in her practice that was accountable for making sure those receivables were collected.

Bill McDermott: [00:17:34] Well, then this practice also had a scheduler, and this firm had three locations, had 27 professional providers, but they weren’t maximizing their schedule. And so, there was a lot of holes, a lot of time that was billable time that was lost. And so, together we kind of crafted a scheme that, not only helped collections, but also helped increase appointments.

Bill McDermott: [00:18:03] And by the way, also talking about can we increase rates for reimbursements to the insurance companies, and the answer is yes, because a one percent increase in your price is about an eight to a ten percent increase in your bottom line. So, talking about Price Value Journey, a lot of that is just learning that raising prices is an immediate direct hit to your bottom line.

Bill McDermott: [00:18:29] But long story short, we were able to increase the revenue over a two year period of time in this professional practice 64 percent, so it’s about 32 percent a year. And we took about $100,000 out of the accounts receivable, put that into cash. So, not only did they have more profit, but they also had more cash to boot. So, this firm had been limping along for a year. I was introduced to them by their CPA. We were able to come in and help them. And they’re continuing to thrive to this day.

John Ray: [00:19:05] So, you brought up pricing, so forgive me but I can’t help going down that road. Let’s do that. I mean, my contention is, is that the biggest problem financial or professional services providers have is their pricing. Do you agree with that?

Bill McDermott: [00:19:27] A hundred percent. And I’ll tell a personal story. When I started my business 13 years ago, I’m figuring what do I charge. And, of course, when you first start, you’re not even sure you know what your value proposition is. And so, I said, “Okay. I’m going to start at this rate.” And by the way, it was an hourly rate. And so, by setting an hourly rate, I unintentionally got to the point where I was perceived as a commodity because I’m paid by the hour. There’s no value there.

Bill McDermott: [00:20:04] And by the way, my experience is, I, actually, in the first three years, tripled my hourly rate because the first rate that I thought it was worth was woefully low. And so, I had to work to the point where I had to find somebody to tell me that my rates were too high before I knew that I was right where I should be to begin with.

Bill McDermott: [00:20:31] But the other thing is, I read a really good book that, basically, introduced me to the concept of value-based pricing. So, to kind of use that example of the professional services practice I talked about, I mean, the amount of money that that firm paid me was probably about, I’m going to say, half of the profit that I delivered. So, essentially, if you think about it, they covered their cost and I gave them 100 percent return on their investment.

Bill McDermott: [00:21:15] So, the whole concept of value-based pricing was a total shift for me, John. And believe me, I have not arrived on this journey. I’m still learning. But switching from an hourly rate to a fixed fee, and doing that pricing in relation to the value that you’re delivering to your client makes sense. I can think of another story.

John Ray: [00:21:44] Yeah. Please.

Bill McDermott: [00:21:45] So, early on, I was involved in a loan negotiation with the bank, and it was a big loan. And so, I want to say the loan was about $2 million. And so, I said, “Okay. If I can deliver a discount of 20 percent, $400,000, what amount would you be willing to pay?” “Five percent.” So, $20,000. So, we got into the negotiation with the bank, it took me an-hour-and-a-half. And I successfully negotiated $20,000 of fees for 90 minutes worth of work. So, I don’t know what that comes out to for an hourly rate. But I delivered the value and got paid a percentage.

Bill McDermott: [00:22:41] And so, the concept in my practice that I’ve implemented, but I’m still figuring out is, price based on the value that you’re creating for your client. Don’t price on an hourly rate, if you can. Now, there are some practices that are comfortable with hourly pricing, and I’m not saying they shouldn’t do that, but they might be leaving money on the table that could be theirs instead of someone else’s.

John Ray: [00:23:11] You said when you were talking about that first example that when you were pricing hourly, you were regarded as a commodity. Explain more on that. Say more on that.

Bill McDermott: [00:23:26] Yeah. So, I think I’m going to use an analogy and, hopefully, explain in the meantime. Everybody shops at Walmart. Walmart struggles with customer service because they’re so big. But you know that you can go into Walmart and you can get the lowest price. And if there’s no supply chain disruption, they’ll have it in stock. But, still, Walmart doesn’t really add value because there’s no one there to help you. And if you wait in the checkout line, you’re probably going to wait a long time.

Bill McDermott: [00:24:09] Versus Ace Hardware. I go into Ace Hardware. Ace Hardware has everything. And when you walk in the front door, there’s someone there at the door that’s going to greet you and says, “Sir, what can I help you with?” And I say, “I need a 20 pound bag of birdseed.” Takes me right to the aisle right where the birdseed is and say, “Look. You got three choices. These are the prices. Clients ask for this one the most.” And I get service. There’s value. Because I don’t want to wander the aisles of Ace Hardware trying to find it. I want to be created by someone who knows where it is, knows what they’re talking about. And I can get through the checkout line quickly. So, there’s value in going to Ace Hardware that I don’t think you get at Walmart, in my personal opinion.

Bill McDermott: [00:25:00] So, what I had to figure out is if I couldn’t describe my value to someone – and believe me, describing my value, that’s on me – if I can’t accurately describe the value that I’m delivering to my clients, I default to a commodity. Because if I’m not Ace Hardware, they’re going to see me as Walmart. And they’re going to say, “Well, this is his price. Is it worth it to me to pay that?” It’s the difference between looking at it as a cost versus an investment, too, John.

John Ray: [00:25:35] Yeah. No, that makes sense. And just to be clear – and I probably should have let folks know this at the top of the show – so the professional services can be a big category, but you work with engineering firms, architectural firms, psychiatric related firms.

Bill McDermott: [00:25:59] Marketing agencies.

John Ray: [00:26:03] Attorneys, legal practices, what are some of the others? Have I mentioned most of them there?

Bill McDermott: [00:26:08] Most of them. I’ve got, certainly, a different aspects. I have, actually, three engineering firms. One is mechanical engineering, one of them is civil engineering, and then I also have one that’s environmental engineering. Several different attorney firms, some that work in the employee benefits arena, some of that are litigators. I’ve worked with a few CPA practices. I’ve worked with a couple of marketing agencies. I’ve done work with one of the top interior designers in the southeast. And so, yeah, professional services, generally, those professional services providers are great technicians at their craft, but they really struggle with the business aspect.

Bill McDermott: [00:27:03] But my practice is I’ve worked with solopreneur. I’ve worked with firms that are anywhere from ten people to, I’d say, 50 people. Probably, the largest firm I’ve worked with is a large contracting firm in Northwest Atlanta that has about 400 people. But, yeah, I really love professional services firms because, generally, they’re great technicians, they’re great at their craft. But when they were going to school, nobody taught them business. You know, business is not an undergraduate requirement to get your degree. And, certainly, if you don’t learn it in school, then you either got to learn it somewhere along the way or have a coach to come in and help you learn it.

John Ray: [00:27:55] Now, you’ve talked quite extensively here about the importance of pricing. And we both know that professional services firms, they don’t have inventory, they don’t have a lot of the same kind of capital expenditures, maybe any, that a lot of other firms have. When you talk to your clients, are you focused mostly around pricing or are there other aspects of the income statement that you hone in on?

Bill McDermott: [00:28:29] So, we’re focusing almost entirely on revenue because revenue is the largest number. And so, any percentage increase in revenue creates the biggest change. And so, one of the things that I would say, if you’re a solopreneur out there or look at what I call a revenue multiplier, some people call it a labor multiplier – so an architectural practice that I’m working with right now, they have a bill rate but then they also have a pay rate for engineering work that needs to be done.

Bill McDermott: [00:29:07] And so, that bill rate, of course, incorporates that engineering cost associated with it. But the gross profit is basically what’s left. And so, the higher that you can charge your bill rate against that pay rate that you’re paying out the engineering costs, the higher your gross profit is going to be.

Bill McDermott: [00:29:28] So, what we focus on, if you have an engineering cost for an architect that’s maybe $100, and you can bill that client $150, then your revenue or your labor multiplier is 1.5, if I’m doing the math right, because 150 divided by 100 is 1.5. And so, can you drive that multiplier up? Can you get it to 1.6 or can you get it to 2?

Bill McDermott: [00:29:55] And so, for this particular architectural firm, we’ve actually gone from about a 2.3 revenue multiplier in two years. Right now, we’re north of 3. And so, what that means in terms of gross profit is their gross profit was running probably in the mid-60s. It’s now up into the mid-80s, John. So, the incremental gross profit is falling right down to their bottom line. They’re well on their way through April of making probably two-thirds of the profit that they made last year.

John Ray: [00:30:32] Wow. Now, there’s some value right there that you deliver. Wow. What a great story. So, we talked about solopreneurs, now let’s talk about small, medium-sized professional services firms. They get to a certain size, what are some of the financial mistakes that you see that firms like this make that are common?

Bill McDermott: [00:30:58] Gosh. Let me think about that a minute. I think, first, customer concentrations can be a little bit risky. I do have a particular firm that I work with that is heavily concentrated in one particular client, makes up about 30 percent of their business. My rule of thumb, going back to my banking days, is probably to the extent that you can, limit your concentrations to maybe 15 percent of your total revenue to any one client. So, certainly, revenue concentrations.

Bill McDermott: [00:31:37] Other mistakes would be probably some mindset issues. A lot of business owners are willing to accept mediocre performance. When in reality, they have some self-limiting beliefs that are holding them back. And so, I can certainly expand on that.

Bill McDermott: [00:32:04] But, you know, a quick story is I had a client that I worked with who was in the engineering practice business. He didn’t really feel that he could deliver the value that he really did. And we got through that to the point where he was willing to, first, educate himself on the benefits of value-based pricing, implement it, and then reap the results. So, probably some of it is self-inflicted.

Bill McDermott: [00:32:39] You know, when I started my business, I didn’t know how much to charge. I had some self-limiting beliefs about what I was worth. And so, I would say that would be an item.

Bill McDermott: [00:32:49] And then, I would say, growing a business is really all about people and processes. And so, where I think some solopreneurs or small to medium-sized firms make some mistakes is they either have the wrong people. And when I say wrong, I’m talking about people that don’t really share the company’s core values or core focus, or that person is in the wrong seat. They’re not playing to that person’s strength.

Bill McDermott: [00:33:21] Probably the other thing, in addition to that wrong people, is documented processes. If you want to be an effective and an efficient organization, you’ve got to have documented processes. Because if you have 15 people in your billing department and each of those 15 people has a different way that they do billing, you got problems. And so, documented processes. And if they are documented, you need to inspect what you expect, which means making sure that the processes are being followed. So, those would be the three things that really stick out.

John Ray: [00:34:01] Let’s talk about debt. I mean, when should a firm as they grow start to take on debt? You say it’s when they don’t need it. Say more on that and what you counsel business owners.

Bill McDermott: [00:34:17] So, get a line of credit. There are people who basically believe that I don’t want to have any personal debt in my consumer, in my personal household, the way they run their household. But running a business and running a household are two different things. So, for a line of credit, I would say one month’s revenue is a good rule of thumb. So, if you’ve got a $3 million company that’s a $250,000 line of credit. Don’t base it based on last year’s revenue. Base it on this year’s revenue. So, that would be one thing.

Bill McDermott: [00:35:00] And, generally, year-end financials are in by January or February. Most banks are going to want to see a full fiscal year and then the most recent interim in order to approve a line.

Bill McDermott: [00:35:16] But I would say that I have another business that I work with that does steel fabrication for construction. They have done a great job of purchasing equipment that has technology associated with it that reduces their overall labor costs. They still have people working in their plant, but they have invested in equipment and technology to improve their operating performance. And so, borrowing for a piece of equipment where you find that you can increase your profit margin because of efficiency doing that.

Bill McDermott: [00:35:58] Right now, I’ve got three clients that are either building a building or buying a building. Rent is pretty expensive. A lot of times, depending on the requirements that you have on your building, you might need special electrical requirements. You might have special ceiling requirements, zoning requirements, things like that. But, you know, borrowing money to buy your own building versus paying rent every month is valid.

Bill McDermott: [00:36:31] Probably the most interesting thing right now is us, baby boomers, we’re getting ready to retire. And I’ve got three clients that I’m working with right now that are in various stages of exiting. And, of course, on my last podcast, we had a gentleman who is in the process of ownership transition. We had a banker who came on and spoke about financing those transactions. So, finding a financing source for your business to sell it or buy it is something that is very much top of mind for business owners right now, especially if you’re a baby boomer.

John Ray: [00:37:13] Yeah, for sure. So, if you’re a professional services firm, does having hard assets, like real estate, owning your own building, the building you’re operating in, or any other building for that matter, that’s maybe an investment, I mean, is that a good way to use excess cash flow?

Bill McDermott: [00:37:34] So, that’s a great question. I’ll try to answer it in a concise way. So, I have a client who, just on the operating performance of his business alone, earns a 22 percent net income. I’m going to say that real estate on an annual basis does not increase 22 percent. So, does it make sense for him to invest in an asset that is maybe going to appreciate even though he’s building equity in it versus investing in his business?

Bill McDermott: [00:38:09] So, investing in real estate might be a good diversification play because that way he or she doesn’t have all of their eggs in their company basket. So, it’s a little bit personal choice in my view, John. And I’m a big believer in diversifying your assets. And, generally, the stock of the closely held business that that solopreneur or small to medium-sized business owner has is the 800 pound gorilla on their personal financial statement. So, diversifying away from that and buying a building certainly makes sense.

Bill McDermott: [00:38:49] But if you’re looking at it strictly from numbers, rates of return, providing cash flow, you know, we went through a real estate crisis in 2009, real estate values dropped 30 percent. But on the flip side, real estate has been a great asset to own for a long, long period of time.

John Ray: [00:39:09] So, as we wind down here – Bill, this has been great – I want to get to exit planning, because you’ve started to do some exit planning work for clients. And we could do a whole show on exit planning for professional services firms. But give us the CliffsNotes version, if you will. I mean, folks that are thinking about exiting their firm, what are some of the things that they need to do to prepare their professional services practice for a change, for an exit?

Bill McDermott: [00:39:44] Yeah. So, for the solopreneur, it is a challenge primarily because, generally, a business owner buyer is not willing to pay for what is between that solopreneur’s ears. And so, it is commonly said that in exit planning, the value of a business is the value minus the business owner’s contribution to that value. So, if I were a solopreneur and, basically, all of the intellectual property was in my head, it’s going to be very, very hard to transfer that value to a potential purchaser. It can be done but there are some challenges.

Bill McDermott: [00:40:31] But building transferable value is important. That transferable value is basically having a solid management team that can take the business after the business owner exits. Having reliable financial statements because they’re paying a multiple of what the value of the business is based on those financial statements. So, having reliable financial statements is important.

Bill McDermott: [00:40:58] Back to an earlier comment, making sure that your revenue is not concentrated in any one or two places. So, frankly, it’s all about building transferable value. It’s also about having a growth plan that a business owner purchaser could buy into. So, those would be the aspects, primarily.

John Ray: [00:41:19] Got it. Well, Bill, this has been great. And I can’t imagine there aren’t some folks listening to this conversation wouldn’t want to get in touch, so let’s tell them how they can do that.

Bill McDermott: [00:41:32] Yeah. Well, first, it’s been a delight to be with you. This has been a great opportunity for me as well. And so, thanks for having me. They can reach me at bill@theprofitabilitycoach.net. Or they can call me on my mobile number, which is 770-597-3136. And our website is theprofitabilitycoach.net.

John Ray: [00:41:55] That’s easy to remember, folks. Terrific. Bill McDermott, thanks so much again for coming on the show.

Bill McDermott: [00:42:01] Thanks for having me, John.

John Ray: [00:42:02] Absolutely. Hey, folks, just a quick reminder, if you want to see past episodes of this series or check them out, you can go to pricevaluejourney.com. We would be honored – I’d be honored – if you would subscribe to the show on your favorite podcast app and you won’t miss an episode that way. If you’d like to get in touch with me directly, ask questions, or give some suggestions on topics that we ought to cover here, feel free. My email is john@johnray.co. Thank you for joining us.

 

 

About The Price and Value Journey

The title of this show describes the journey all professional services providers are on:  building a services practice by seeking to convince the world of the value we offer, helping clients achieve the outcomes they desire, and trying to do all that at pricing which reflects the value we deliver.

If you feel like you’re working too hard for too little money in your solo or small firm practice, this show is for you. Even if you’re reasonably happy with your practice, you’ll hear ways to improve both your bottom line as well as the mindset you bring to your business.

The show is produced by the North Fulton studio of Business RadioX® and can be found on all the major podcast apps. The complete show archive is here.

John Ray, Host of The Price and Value Journey

John Ray The Price and Value Journey
John Ray, Host of “The Price and Value Journey”

John Ray is the host of The Price and Value Journey.

John owns Ray Business Advisors, a business advisory practice. John’s services include advising solopreneur and small professional services firms on their pricing. John is passionate about the power of pricing for business owners, as changing pricing is the fastest way to change the profitability of a business. His clients are professionals who are selling their “grey matter,” such as attorneys, CPAs, accountants and bookkeepers, consultants, marketing professionals, and other professional services practitioners.

In his other business, John a Studio Owner, Producer, and Show Host with Business RadioX®, and works with business owners who want to do their own podcast. As a veteran B2B services provider, John’s special sauce is coaching B2B professionals to use a podcast to build relationships in a non-salesy way which translate into revenue.

John is the host of North Fulton Business Radio, Minneapolis-St. Paul Business Radio, Nashville Business Radio, Alpharetta Tech Talk, and Business Leaders Radio. house shows that feature a wide range of business leaders and companies. John has hosted and/or produced over 1,100 podcast episodes.

Connect with John Ray:

Website | LinkedIn | Twitter

Business RadioX®:  LinkedIn | Twitter | Facebook | Instagram

Tagged With: banking, Bill McDermott, business coaching, John Ray, Price and Value Journey, pricing, professional services, professional services firm, professional services providers, solopreneurs, The Price and Value Journey, The Profitability Coach, value, value pricing

LIVE from RISKWORLD 2022: Camille Graham, Floodproofing.com

June 7, 2022 by John Ray

Floodproofing.com
Minneapolis St. Paul Studio
LIVE from RISKWORLD 2022: Camille Graham, Floodproofing.com
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Floodproofing.com

LIVE from RISKWORLD 2022: Camille Graham, Floodproofing.com

Attending the first RISKWORLD for herself and her company, Camille Graham, National Project Manager for Floodproofing.com shared with host Jamie Gassmann how rewarding the conference was for building new relationships. She talked about the comprehensive services provided by Floodproofing.com, the increase in flooding across the country, the need to consider flood mitigation services regardless of one’s location, and much more.

Workplace MVP is underwritten and presented by R3 Continuum and produced by the Minneapolis-St.Paul Studio of Business RadioX®.

This show was originally broadcast from the RIMS 2022 RISKWORLD Conference held at the Moscone Center in San Francisco, California.

Camille Graham, National Project Manager, Floodproofing.com

Camille Graham, National Project Manager, Floodproofing.com

Since 2001, Floodproofing.com has been providing global floodproofing product options and education to design professionals, municipalities, and property owners. Their goal is to provide the best mitigation solutions through complementary project design analysis.

Floodproofing.com is built upon the legacy and expertise gained from the development of Smart Vent Products Inc., which has propelled the company into an industry leader. A team of Certified Floodplain Managers and Flood Mitigation Specialists provides the industry with a portfolio of innovative dry and wet floodproofing systems.

Camille Graham joined Floodproofing.com in 2019.

Company website | Camille Graham LinkedIn

About Workplace MVP

Every day, around the world, organizations of all sizes face disruptive events and situations. Within those workplaces are everyday heroes in human resources, risk management, security, business continuity, and the C-suite. They don’t call themselves heroes though. On the contrary, they simply show up every day, laboring for the well-being of employees in their care, readying the workplace for and planning responses to disruption. This show, Workplace MVP, confers on these heroes the designation they deserve, Workplace MVP (Most Valuable Professionals), and gives them the forum to tell their story. As you hear their experiences, you will learn first-hand, real-life approaches to readying the workplace, responses to crisis situations, and overcoming challenges of disruption. Visit our show archive here.

Workplace MVP Host Jamie Gassmann

Jamie Gassmann, Host, “Workplace MVP”

In addition to serving as the host to the Workplace MVP podcast, Jamie Gassmann is the Director of Marketing at R3 Continuum (R3c). Collectively, she has more than fourteen years of marketing experience. Across her tenure, she has experience working in and with various industries including banking, real estate, retail, crisis management, insurance, business continuity, and more. She holds a Bachelor of Science Degree in Mass Communications with special interest in Advertising and Public Relations and a Master of Business Administration from Paseka School of Business, Minnesota State University.

R3 Continuum

R3 Continuum is a global leader in workplace behavioral health and security solutions. R3c helps ensure the psychological and physical safety of organizations and their people in today’s ever-changing and often unpredictable world. Through their continuum of tailored solutions, including evaluations, crisis response, executive optimization, protective services, and more, they help organizations maintain and cultivate a workplace of wellbeing so that their people can thrive. Learn more about R3c at www.r3c.com.

Company website | LinkedIn | Facebook | Twitter

TRANSCRIPT

Intro: [00:00:02] Broadcasting live from Riskworld 2022 at the Moscone Center in San Francisco, it’s time for Workplace MVP. Brought to you by R3 Continuum, a global leader in helping workplaces thrive during disruptive times. Now, here’s your host.

Jamie Gassmann: [00:00:22] Hi, everyone. Jamie Gassmann here with Workplace MVP and we are broadcasting from Riskworld 2022 Expo Hall in R3 Continuum’s booth. And joining me is Camille Graham.

Camille Graham: [00:00:22] Hello.

Jamie Gassmann: [00:00:37] Hello. From Floodproofing. Talk to me about your company and tell me a little bit about your background.

Camille Graham: [00:00:42] Yes. Thanks for having me, Jamie. We are Floodproofing.com. We are all the way from New Jersey. It’s our first time out here in San Francisco, for me personally ever. And it’s our first time that our company is doing this conference. We do all things flood mitigation. So, we provide flood panels, flood events, and even flood glass, deployable systems and passive systems to prevent flood water from entering into a building. We also have flood vents that let water through to alleviate the pressure on a building. And we have an insurance agency risk reduction plus group that helps to pass on the insurance savings that you should see from having proper flood mitigation through to your insurance premium. We are a one-stop shop for all things flood mitigation.

Jamie Gassmann: [00:01:28] Very interesting. And so, you mentioned this is your first time expo-ing at RIMS.

Camille Graham: [00:01:33] Yes, it is.

Jamie Gassmann: [00:01:33] So, talk to me about, you know, what were some of the things that made you decide that this was where you needed to be for sharing your business and what you guys do.

Camille Graham: [00:01:42] So, we actually – one of our partners that we work really closely with, Tiger Dam, is also here and they told us that this is the most beneficial conference that they come to every year because they meet people that have an immediate need for what we do. They have an immediate problem that they need to solve with flooding and they’re looking for solutions. And so, it’s cool. We usually go to conferences where we work with a lot of architects and engineers, which is incredible because we get specced early on in the design phase. But there’s also a huge need for property managers, risk managers, people that have buildings now that need solutions, and we’re here to provide them.

Jamie Gassmann: [00:02:23] And so, I mean, we’re at the end of day one. And so, talk to me. How have your conversations been going so far with, you know, the traffic that’s been coming through?

Camille Graham: [00:02:32] It’s been awesome. We have had some of the most incredible conversations with people that have experienced flooding or they know that they’re in a flood zone. And with the changing climate and with the increased risk that’s posed by flooding all over the country, people know that this is an issue that they need to solve. They’re looking for solutions and it’s top of mind more today than ever before. So people are coming eager to find a solution to that problem. And it’s just been the most progressive conversations that we’ve had at a conference.

Jamie Gassmann: [00:03:06] That’s fantastic. And so, looking at flooding, just out of pure curiosity, are there areas within like the North, obviously, America, I think you’re kind of more in the U.S. for your services? Are there some areas that are more prone to flooding that doesn’t have this protection in place than others? Talk to us a little bit about that.

Camille Graham: [00:03:27] Yeah. So, I will say that a lot of people, when they think about flooding, they assume coastal. They think oceans, they think beach towns, they think Florida. But actually, all over the country, you know, this risk is present. A lot of flooding that happens is flash flooding from rainstorms. So, yes. Do we do a ton of work in coastal communities like Florida, like New Jersey, like New York City, and Hoboken? We do. But we also do a ton of work in places that probably would not be top of mind when you think about flooding because this issue is all over the country these days.

Jamie Gassmann: [00:04:04] Yeah, absolutely. And so what – so, you mentioned flash flooding, but what are some other natural or even none, like maybe manmade situations that are causing flooding within the country that businesses should be aware of?

Camille Graham: [00:04:17] Yeah. So, we have – sometimes in your drainage system so you might have an area where that sees a lot of rainfall and then the system is completely overwhelmed and it can’t handle the amount of rain that you saw so it can kind of backflow and cause flooding all through the streets, which causes a horrible issue that might not have been expected.

Camille Graham: [00:04:37] During Hurricane Ida in the northeast, you know, this storm was hitting Louisiana and we knew that it was going to cause a huge issue down there. And then, the next thing we knew, up north in Philadelphia and in New York City, there was, I mean, life loss because of flash flooding and flooding that happened that we did not expect. We didn’t expect it to come. It was actually considered to be like a 500-year flood event. Vine Street through Philadelphia was completely flooded to a point that nobody had ever seen before, nobody would ever expect. And one thing that I want to say is that when a storm like that happens, it might be considered a 100 or 500-year flood event but that doesn’t mean that if it happened yesterday, it can’t happen again tomorrow. These things can happen more than once within that 500-year frame, and they probably will as time goes on when we start to see these things happening more frequently.

Jamie Gassmann: [00:05:38] Yeah. And so if there’s a business out there that, let’s just say, they’re not in a prominent flood area, maybe they’re not in a floodplain, it’s not anything that’s really on their radar from a location perspective, what is some advice that you would give to them in terms of how they should be looking at this as part of their overall risk mitigation?

Camille Graham: [00:05:57] Yeah. I always say don’t just think about today and don’t just look at necessarily the history of flooding in an area but think about the future and really just consider the resiliency of your business or your building where you’re at. Whether it be flood insurance or a flood mitigation system in place, if there is an event, having something in place is just going to allow you to open your doors, you know, sooner than if, obviously, you had a flood event. So it’s something that we say, always consider, never think that you’re not vulnerable to something like this, and protect yourself, not just for today, but for the future.

Jamie Gassmann: [00:06:37] Yeah. Great advice. And thank you so much for joining us. If somebody wanted to reach out to you to get more information or to learn a little bit more, how would they go about doing that?

Camille Graham: [00:06:46] Yes. They can go to floodproofing.com. Our website is an awesome resource. You can find everything that we have to offer and you can reach out to us on that website.

Jamie Gassmann: [00:06:57] Yeah. Very interesting information. Thank you again. It’s been great to chat with you.

Outro: [00:07:06] Thank you for joining us on Workplace MVP. R3 Continuum is a proud sponsor of this show and is delighted to celebrate most valuable professionals who work diligently to secure safe workplaces where employees can thrive.

 

Tagged With: Camille Graham, flood insurance, flood mitigation, floodplain, floodproofing systems, Floodproofing.com, Jamie Gassmann, R3 Continuum, RIMS, RISKWORLD 2022, Workplace MVP

Should a Business Owner Pursue Profitability Over Profit? – with Bill McDermott, Host of ProfitSense

June 6, 2022 by John Ray

Profitability
North Fulton Studio
Should a Business Owner Pursue Profitability Over Profit? - with Bill McDermott, Host of ProfitSense
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Profitability

Should a Business Owner Pursue Profitability Over Profit? – with Bill McDermott, Host of ProfitSense

In this commentary from a recent episode of ProfitSense, Bill demonstrates the crucial differences between profitability and profit and why it should matter to a business owner.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Bill’s commentary was taken from this episode of ProfitSense.

About ProfitSense and Your Host, Bill McDermott

Bill McDermott
Bill McDermott

ProfitSense with Bill McDermott dives into the stories behind some of Atlanta’s successful businesses and owners and the professionals that advise them. This show helps local business leaders get the word out about the important work they’re doing to serve their market, their community, and their profession. The show is presented by McDermott Financial Solutions. McDermott Financial helps business owners improve cash flow and profitability, find financing, break through barriers to expansion and financially prepare to exit their business. The show archive can be found at profitsenseradio.com.

Bill McDermott is the Founder and CEO of McDermott Financial Solutions. When business owners want to increase their profitability, they don’t have the expertise to know where to start or what to do. Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability they never thought possible.

Bill currently serves as Treasurer for the Atlanta Executive Forum and has held previous positions as a board member for the Kennesaw State University Entrepreneurship Center and Gwinnett Habitat for Humanity and Treasurer for CEO NetWeavers. Bill is a graduate of Wake Forest University and he and his wife, Martha have called Atlanta home for over 40 years. Outside of work, Bill enjoys golf, traveling, and gardening.

Connect with Bill on LinkedIn and Twitter and follow McDermott Financial Solutions on LinkedIn.

Tagged With: Bill McDermott, Business Owners, profits, profits vs. profitability, ProfitSense, The Profitability Coach

HBS Legal Trends: Christopher Grosso, Conner Strong & Buckelew, and Jeffrey Daitz, Hall, Booth, Smith, PC

June 6, 2022 by John Ray

Christopher Grosso and Jeffrey Daitz
Hall Booth Smith Podcast Network
HBS Legal Trends: Christopher Grosso, Conner Strong & Buckelew, and Jeffrey Daitz, Hall, Booth, Smith, PC
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Conner Strong

HBS Legal Trends: Christopher Grosso, Conner Strong & Buckelew, and Jeffrey Daitz, Hall, Booth, Smith, PC

On this edition of HBS Legal Trends, Chris Grosso, Connor Strong, and Jeff Daitz, Hall Booth Smith, discussed how they use their respective expertise in insurance brokerage and employment law to help organizations limit potential claims exposure. Chris and Jeff discussed how they work together, the nature and severity of claims arising from the pandemic and a remote work environment, the value of employment practices audits, the application process for employment practices liability, and much more.

HBS Legal Trends is sponsored by Hall, Booth, Smith, PC and is produced by the North Fulton studio of Business RadioX®.

Conner Strong & Buckelew

Conner Strong & Buckelew is among America’s largest and most admired insurance brokerage, employee benefits, and risk management consulting firms. Its roots trace back to 1959. They have offices all along the East Coast and they serve clients worldwide.

They are also an industry leader in providing high-risk businesses with comprehensive solutions to prevent losses, manage claims and drive growth. Whether providing risk and insurance services to industries ranging from construction to life science or offering employee benefits services ranging from health and wellness programs to strategic advisory consulting, they are intensely focused on getting results for your business.

Conner Strong is proud to be a founding member of BrokerTech Ventures, the first program specifically for investors and innovators building the next generation of tech solutions for insurance agencies and brokerages. For more information, visit brokertechventures.com

Most of all, they are recognized as a passionate community contributor, volunteering thousands of hours and donating to hundreds of organizations every year. With the Norcross Foundation, they have worked to improve youth education, fund disease research, support the arts and culture and lend a hand to the disadvantaged.

Company Website |LinkedIn | Facebook | Twitter

Christopher Grosso, Partner, National Claim Advocacy & Consulting Leader, Conner Strong & Buckelew

Christopher Grosso, Partner, National Claim Advocacy & Consulting Leader, Conner Strong & Buckelew

Christopher assists clients with all aspects of the claim process. He is responsible for receiving, analyzing, and submitting claims to the insurance carrier, and acting as a liaison for our Select market of business across all lines of insurance.

Although his specialty is property, he has experience handling all lines of business. He provides coverage analysis, advice, and direction, and assists in negotiations with the insurance carrier and monitoring of open claims. He works closely with the client to ensure the carrier’s claim representative delivers prompt, fair claims handling and also assists clients with their internal claim management efforts, including conducting comprehensive claim reviews and training. He also acts as the client’s advocate in dispute resolution.

Grosso has held a producer’s license for 17 years and is licensed throughout the country. Prior to his position at Conner Strong & Buckelew in 2004, he was with Hartford Steam Boiler Insurance, an AIG company, for four years. He served as an Underwriting Assistant, before moving into a role as a Senior Technical Claims adjuster, handling commercial property claims.

Christopher has a Bachelor’s from Pennsylvania State University.

LinkedIn

Hall Booth Smith, P.C.

Established in 1989, Hall Booth Smith, P.C. (HBS) is a full-service law firm with six regional offices strategically located throughout Georgia, as well as offices in Birmingham, AL; Little Rock and Rogers, AR; Denver, CO; Jacksonville, Miami, St. Petersburg, Tallahassee, Tampa, and West Palm Beach, FL; Missoula, MT; Asheville and Charlotte, NC; Saddle Brook, NJ; New York, NY; Oklahoma City, OK; Charleston, SC; and Memphis and Nashville, TN.

Experienced across a wide range of legal disciplines, HBS prides itself on providing knowledgeable, proactive, client-specific counsel to individuals, domestic and international corporations, state and federal agencies, and nonprofit organizations.

At HBS they possess the legal knowledge, skill, and experience to meet our clients’ needs wherever they do business. HBS maintains the highest commitment to serve clients ethically and professionally by providing the highest quality legal representation.

Company Website | LinkedIn | Facebook

Jeffrey Daitz, Partner, Hall Booth Smith, P.C.

Jeffrey Daitz, Partner, Hall Booth Smith, P.C.

Jeffrey Daitz is a Partner in the Saddle Brook, New Jersey office, Co-Chair of the Labor and Employment Law Group, as well as Co-Director of the Employment Practices Liability Insurance Defense Department.

He has more than two decades of experience in employment law, labor-management relations, and alternative dispute resolution. Jeffrey’s nationwide practice is focused on defending employers in Employment Practices Liability Insurance (EPLI) matters and Directors & Officers (D&O) claims, and he also monitors claims on behalf of carriers. He is often brought in to coordinate local and co-counsel in multiparty and multi-jurisdiction litigation.

Jeffrey specializes in mediating and litigating all types of employment discrimination claims including sexual harassment, hostile work environment, whistle-blowing, retaliation, wrongful discharge, defamation, misappropriation, and a variety of other employment-related cases in federal and state courts, through appeals and in alternative dispute resolution (ADR) forums. He also defends clients in administrative proceedings before the Equal Employment Opportunity Commission (EEOC) and other federal, state, and local employment practice agencies, as well as wage/hour audits and other regulatory compliance investigations before the federal and state Departments of Labor (DOL), Office of Federal Contract Compliance Programs (OFCCP), Department of Health (DOH), and Office of Inspector General (OIG). Jeffrey also represents employers in labor-management disputes, including collective bargaining negotiations.

Clients routinely engage Jeffrey for day-to-day management counseling on issues such as employment policies, contracts, discipline, terminations, leaves of absence, accommodations, complaints, internal investigations, benefits, proprietary information, restrictive covenants, reorganizations, and executive compensation. Jeffrey is a frequent lecturer and guest speaker throughout the country on ever-changing employment laws and best practices.  He also provides advice on risk management and loss control, such as comprehensive employment practices audits and sexual harassment and other internal investigations, in addition to providing training and prevention counsel on topics such as best workplace practices and EEO compliance training for human resources, management personnel and in-house counsel.

Jeffrey’s clients include employers in for-profit and not-for-profit industries including healthcare, construction, financial services, property management, insurance, technology, transportation, building services, hotel and hospitality, retail, manufacturing, power and energy and pharmaceutical.

Jeffrey earned a Juris Doctorate from Seton Hall University School of Law. He holds a Bachelor of Arts degree from Temple University where he majored in Accounting, Finance, and Economics.

Jeffrey has been selected for inclusion in the list of New Jersey’s Super Lawyers for the past 6 years, 2013-2018, honoring the top 2% of lawyers in New Jersey.

LinkedIn

Tagged With: Christopher Grosso, claims, claims exposure, Conner Strong & Buckelew, employee claims, employment law, Hall Booth and Smith, insurance broker, Jeffrey Daitz

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