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To Your Health With Dr. Jim Morrow: Episode 31, Telemedicine and Georgia Opens Up

April 23, 2020 by John Ray

telehealth
North Fulton Studio
To Your Health With Dr. Jim Morrow: Episode 31, Telemedicine and Georgia Opens Up
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Dr. Jim Morrow, Host of “To Your Health”

To Your Health With Dr. Jim Morrow: Episode 31:  Telemedicine and Georgia Opens Up

Dr. Morrow offers his thoughts on Gov. Brian Kemp’s “opening” of Georgia, as well as a thorough discussion of telemedicine, its pros and cons, and how he is using telemedicine currently to treat patients at Morrow Family Medicine.  As always, Dr. Morrow responds to listener emails and feedback, including one from a disgruntled tinnitus sufferer. “To Your Health” is brought to you by Morrow Family Medicine, which brings the CARE back to healthcare.

About Morrow Family Medicine and Dr. Jim Morrow

Morrow Family Medicine is an award-winning, state-of-the-art family practice with offices in Cumming and Milton, Georgia. The practice combines healthcare information technology with old-fashioned care to provide the type of care that many are in search of today. Two physicians, three physician assistants and two nurse practitioners are supported by a knowledgeable and friendly staff to make your visit to Morrow Family Medicine one that will remind you of the way healthcare should be.  At Morrow Family Medicine, we like to say we are “bringing the care back to healthcare!”  Morrow Family Medicine has been named the “Best of Forsyth” in Family Medicine in all five years of the award, is a three-time consecutive winner of the “Best of North Atlanta” by readers of Appen Media, and the 2019 winner of “Best of Life” in North Fulton County.

Dr. Jim Morrow, Morrow Family Medicine, and Host of “To Your Health With Dr. Jim Morrow”

Dr. Jim Morrow is the founder and CEO of Morrow Family Medicine. He has been a trailblazer and evangelist in the area of healthcare information technology, was named Physician IT Leader of the Year by HIMSS, a HIMSS Davies Award Winner, the Cumming-Forsyth Chamber of Commerce Steve Bloom Award Winner as Entrepreneur of the Year and he received a Phoenix Award as Community Leader of the Year from the Metro Atlanta Chamber of Commerce.  He is married to Peggie Morrow and together they founded the Forsyth BYOT Benefit, a charity in Forsyth County to support students in need of technology and devices. They have two Goldendoodles, a gaggle of grandchildren and enjoy life on and around Lake Lanier.

Facebook: https://www.facebook.com/MorrowFamMed/

LinkedIn: https://www.linkedin.com/company/7788088/admin/

Twitter: https://twitter.com/toyourhealthMD

The complete show archive of “To Your Health with Dr. Jim Morrow” addresses a wide range of health and wellness topics, and can be found at www.toyourhealthradio.com.

telemedicine

 

Dr. Morrow’s Show Notes

Coronavirus Update

 

Worldwide cases: 2,561,915

Total Deaths: 177,200

Total Recovered: 679,819

Total Hospitalized in the US: 120,268

Hospitalized in Georgia: 3,779

Incidence rate: 198.89 per 100,000 persons

Antibody test not yet generally available and the tests have a cross reactivity with some of the common cold CVs.

The average number of people who become infected by an infectious person is declining in every state. See this at rt.live.

 

Telemedicine Facts

  • According to Healthcare Business & Technology,
    • Almost 75% of all doctor, urgent care, and ER visits “are either unnecessary or could be handled safely and effectively over the phone or video,”
  • MedCity Newsreports that 90% of healthcare executives say their organizations are developing or already have a telehealth application.
  • The majority of healthcare organizations are increasing or maintaining their telehealth investments this year.
  • According to the American Hospital Association, about 20% of Americans live in rural areas without easy access to primary care or specialist medical services.
  • A survey conducted by American Well found that 65% of consumers want to use telehealth
  • According to the American Hospital Association, more than three-fourths of hospitals are currently using or implementing telehealth.

Pre-Pandemic Situation

 Limited Medicare coverage impeded the expansion of telehealth services.

    • Current statute restricts most telehealth services to patients located in
      • rural areas and
      • in specific settings (such as a hospital or physician office),
      • covers only a limited number of services, and
      • allows only real-time, two-way video conference capabilities.
  • Changes needed include:
    • widespread elimination of geographic and setting locations requirements so patients outside of rural areas can benefit from telehealth;
    • expanding the types of technology that can be used, including remote monitoring; and
    • covering all services that are safe to provide, rather than a small list of approved services.
  • Additional research is needed to evaluate telehealth.
    • Research and experience under the Medicare program suggest that policymakers’ concerns about increased access to telehealth leading to increased spending may be overstated,
      • particularly when weighed against the potential benefits in quality, patient experience and efficiency.
      • However, there are insufficient studies on the cost-benefits of telehealth outside of a limited number of services.
    • Federal programs to expand broadband need to be simplified.
      • According to the FCC, 34 million Americans still lack access to adequate broadband.
      • And, there is a large digital divide, with almost 40 percent of those living in rural areas lacking access.
        • The FCC has a program that supports broadband adoption, but it is administratively burdensome and provides an insufficient level of subsidy for remote health care providers.
          • While the FCC has taken positive steps by increasing the subsidy, we need even greater federal investment in broadband access, particularly in rural areas.
        • More and better research is needed for other conditions and newer technologies, such as remote monitoring of patients.
      • Telehealth connects patients to vital health care services through
        • videoconferencing,
        • remote monitoring,
        • electronic consults
        • and wireless communications.
        • By increasing access to physicians and specialists,
          • telehealth helps ensure patients receive
            • the right care,
            • at the right place,
            • at the right time.
          • Currently, 76 percent of U.S. hospitals connect with patients and consulting practitioners at a distance through the use of video and other technology.
            • Almost every state Medicaid program has some form of coverage for telehealth services,
              • and private payers are embracing coverage for many telehealth services.
              • However, there are barriers to wide adoption of telehealth.
              • Medicare generally still limits coverage and payment for many telehealth services, lagging behind other payers.
              • The Medicare program recently expanded coverage for telehealth services for stroke patients and substance use treatment in response to statutory changes.
              • Medicare also expanded payments to clinicians for virtual check-ins.
                • While promising,
                  • these incremental steps are not sufficient.
                • In addition, limited access to adequate broadband services hampers the ability of some rural facilities to deploy telehealth.
                • The challenge of cross-state licensure also looms as a major issue.
                • Other policy and operational issues include credentialing and privileging,
                  • online prescribing,
                  • privacy and security
                  • and fraud and abuse.
                • The federal government needs to do more to increase the use of telehealth.

Telemedicine and Covid-19

  • Healthcare is seeing a surge of direct-to-consumer telemedicine providers
    • operating at a large scale
    • helping to provide care to patients who might be wondering if they need care after exhibiting potential symptoms associated with the novel coronavirus.
  • Simultaneously we’re also seeing a rapidly increasing need for on-demand acute care via telemedicine.
    • This includes ICU programs offering intensive care for the most critical patients.
      • However, tele-triage is exploding in terms of the number of use-cases that involves determining when a patient presents in the emergency department whether they need to be issued a bed or if they can be seen in another area within the hospital in order to keep the patient safe and to reduce potential exposures.
    • This helps to limit providers’ exposure to the virus and other infectious diseases.
  • If a hospital worker is exposed without adequate protection, they’d be put into self-quarantine for 14 days
    • Using acute telemedicine for tele-triage is helping keep staff in a low-risk category for infection
      • by completely eliminating exposure for those doctors or other hospital staff.
  • Unfortunately, providers and policymakers are playing catch-up with telehealth technologies right now
    • and are just beginning to recognize that they are essential solutions for keeping potentially infected individuals out of hospitals and doctors’ offices
    • As this public health crisis continues to escalate, however,
      • telemedicine is quickly gaining recognition as a critical tool to slow the spread of COVID-19
    • There are three primary roles for telehealth technologies during this crisis
      • The first:
        • to screen patients remotely rather than having them visit the practice or hospital.
        • They can be used to triage patients with cold and flu-like symptoms and to remotely care for those who don’t need medical intervention or could receive care at home.
        • By keeping potentially infected individuals out of hospitals and doctors’ offices, the healthcare system can lower the risk of transmission to other patients and healthcare staff.
      • Second:
        • To help provide routine care for patients with chronic diseases who are at high risk if exposed to the virus
      • And third:
        • Providers and their staff are not immune to infection and are at increased risk for contracting COVID-19 due to their continuous exposure to infected patients
          • Once tested and confirmed, these providers will be quarantined and become unavailable to the healthcare system just when it needs them most.

Limitations of Telehealth

  • Inability for most clinicians to fully examine a patient
    • The hardware exists to do this but it is expensive and has limitations
  • Limitations in broadband and device access
  • Laboratory testing not possible
  • In cases where patients are using on-demand telemedicine services that connect them with a random healthcare provider, care continuity suffers.
  • A patient’s primary care provider may not have access to records from those other visits and end up with an incomplete history for the patient.
    • Service provider shuffling increases the risk that a doctor won’t know a patient’s history or have notes about care routines.
  • Healthcare laws, reimbursement policies, and privacy protection rules struggle to keep up with this fast-growing industry.
    • As a healthcare provider, you want to promote best practices when approaching telemedicine.
  • While major developments have been made to telehealth reimbursement over the past couple years, it still remains a common stumbling block for providers interested in telemedicine.

The Bottom Line

  • Telehealth helps increase health care value and affordability.
    • Virtual care technology saves patients time and money,
      • reduces patient transfers,
      • emergency department and urgent care center visits,
      • and delivers savings to payers.
    • In addition, telehealth helps address physician burnout by reducing clinicians’ drive times and allowing more time for patients.

Tagged With: Dr. Jim Morrow, Gov. Brian Kemp, Jim Morrow, Morrow Family Medicine, teleHealth, telemedicine, tinnitus, To Your Health, To Your Health With Dr. Jim Morrow

Decision Vision Episode 62: Should We Sell the Family Business? – An Interview with Gaia Marchisio, Cox Family Enterprise Center at Kennesaw State University

April 23, 2020 by John Ray

sell the family business
Decision Vision
Decision Vision Episode 62: Should We Sell the Family Business? - An Interview with Gaia Marchisio, Cox Family Enterprise Center at Kennesaw State University
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Mike Blake and Dr. Gaia Marchisio

Decision Vision Episode 62: Should We Sell the Family Business? – An Interview with Dr. Gaia Marchisio, Cox Family Enterprise Center at Kennesaw State University

How do you recognize when it’s the best decision to sell the family business? Can a dysfunctional family operate a functional and successful business? Dr. Gaia Marchiso of the Cox Family Enterprise Center at Kennesaw State University joins the show to answer these questions and much more. The host of “Decision Vision” is Mike Blake and the series is presented by Brady Ware & Company.

Dr. Gaia Marchisio, Cox Family Enterprise Center at Kennesaw State University

The family enterprise field shares a common experience:  navigating the space where family relationships and professional demands coexist. Family members, non-family executives, external advisors and students all traverse this unique sphere, mutually working through the complexity in pursuit of success.

The mission of the Cox Family Enterprise Center (CFEC) is to act as an intellectual and practical hub for this community. With specialized programming, events and services tailored to the needs of each segment of our community, we focus on creating growth opportunities that empower individuals and organizations. We are proud to be a gathering place of learning, facilitating new skills, richer capacities, and sustainable relationships.

sell the family business
Dr. Gaia Marchisio

Dr. Gaia Marchisio is the Executive Director of the Cox Family Enterprise Center at Kennesaw State University. As a tenured Associate Professor of Management at Kennesaw State University’s Coles College of Business Gaia developed several curricula for family business classes, and teaches undergraduate and MBA courses on family business, management and behavioral sciences, and consulting services. She has been a visiting faculty under numerous Family Business Centers in Latin America, Asia, Europe, and New Zealand.

Gaia’s academic experience allows her to be rigorous and up-to-date in dealing with family business topics. She has been participating in research projects with international partners from Academic and Professional environments (including McKinsey & Company and the Italian Stock Exchange); and has strong global experience in collaborating with financial institutions and associations working with family firms, such as International Finance Corporation (IFC – World Bank Group), Inter-America Investment Corporation (IIC – Member of the IDB Group), Credit Suisse, UBS, and Australia and New Zealand (ANZ) Banking Group, to name few. In particular, Gaia has experience working with financial institutions, both consulting with them on family business related topics, and training their clients and/or associates.

In 2013/14, Gaia spent her sabbatical leave, during which she served as the Chief Learning Officer for FBN Academy, an initiative by the Family Business Network in Asia. Gaia is an active international speaker and family business advisor. She regularly presents and/or advises families on various topics in family business management around the world, including facilitating some of the owners meetings. These families are from around the world including Europe, North and Latin America, the Caribbean, Asia, Australia and New Zealand. Gaia brings a unique combination of knowledge and experience from the fields of management and entrepreneurship to her work with family businesses, combined with a growing expertise in family dynamics and communication.

Gaia was raised as a 4th generation successor in her family’s business. This experience helped her understand the emotional challenges and responsibilities of being a young member of an entrepreneurial family. After finishing her BBA, she joined the SDA Bocconi School of Management where she served as Assistant Director of the full-time MBA Program; as Coordinator of the first Chair in Strategic Management in Family Business; and as a Coordinator of Entrepreneurship Entrepreneurs’ Research Center. Gaia earned her Doctorate in Business Administration in Family Business. She moved to Atlanta, Georgia, USA in 2006.

For more information on the research and services offered by the Cox Family Enterprise Center, you can visit their website or email directly.

Michael Blake, Brady Ware & Company

Mike Blake, Host of “Decision Vision”

Michael Blake is Host of the “Decision Vision” podcast series and a Director of Brady Ware & Company. Mike specializes in the valuation of intellectual property-driven firms, such as software firms, aerospace firms and professional services firms, most frequently in the capacity as a transaction advisor, helping clients obtain great outcomes from complex transaction opportunities. He is also a specialist in the appraisal of intellectual properties as stand-alone assets, such as software, trade secrets, and patents.

Mike has been a full-time business appraiser for 13 years with public accounting firms, boutique business appraisal firms, and an owner of his own firm. Prior to that, he spent 8 years in venture capital and investment banking, including transactions in the U.S., Israel, Russia, Ukraine, and Belarus.

Brady Ware & Company

Brady Ware & Company is a regional full-service accounting and advisory firm which helps businesses and entrepreneurs make visions a reality. Brady Ware services clients nationally from its offices in Alpharetta, GA; Columbus and Dayton, OH; and Richmond, IN. The firm is growth minded, committed to the regions in which they operate, and most importantly, they make significant investments in their people and service offerings to meet the changing financial needs of those they are privileged to serve. The firm is dedicated to providing results that make a difference for its clients.

Decision Vision Podcast Series

sell the family business“Decision Vision” is a podcast covering topics and issues facing small business owners and connecting them with solutions from leading experts. This series is presented by Brady Ware & Company. If you are a decision maker for a small business, we’d love to hear from you. Contact us at decisionvision@bradyware.com and make sure to listen to every Thursday to the “Decision Vision” podcast. Past episodes of “Decision Vision” can be found here. “Decision Vision” is produced and broadcast by the North Fulton studio of Business RadioX®.

Visit Brady Ware & Company on social media:

LinkedIn:  https://www.linkedin.com/company/brady-ware/

Facebook: https://www.facebook.com/bradywareCPAs/

Twitter: https://twitter.com/BradyWare

Instagram: https://www.instagram.com/bradywarecompany/

Show Transcript

Intro: [00:00:01] Welcome to Decision Vision, a podcast series focusing on critical business decisions, brought to you by Brady Ware & Company. Brady Ware is a regional, full-service accounting and advisory firm that helps businesses and entrepreneurs make visions a reality.

Mike Blake: [00:00:20] And welcome to Decision Vision, a podcast giving you, the listener, clear vision to make great decisions. In each episode, we discuss the process of decision making on a different topic from the business owner’s or executive’s perspective. We aren’t necessarily telling you what to do, but we can put you in a position to make an informed decision on your own and understand when you might need help along the way.

Mike Blake: [00:00:39] My name is Mike Blake, and I’m your host for today’s program. I’m a director at Brady Ware & Company, a full-service accounting firm based in Dayton, Ohio, with offices in Dayton; Columbus, Ohio; Richmond, Indiana; and Alpharetta, Georgia, which is where we are recording today. Brady Ware is sponsoring this podcast. If you like this podcast, please subscribe to your favorite podcast aggregator, and please consider leaving a review of the podcast as well.

Mike Blake: [00:01:03] So, today we’re going to talk about whether you should sell the family business. And this is something that I’ve had a chance to get up close and personal with. As it happened the last couple of years, I’ve been asked to help some pretty high net worth families with the third comma and helped them with something that’s called a family charter, which is basically the constitution of how a family decides it’s going to govern itself, usually over multiple generations.

Mike Blake: [00:01:34] And over that time, I’ve had an opportunity to study family businesses in a way that I really had not before. Those of you who have listened to this podcast before know that I’m more of a tech guy. And tech companies, generally speaking, measure themselves in years or even months, but not generations. Family businesses, on the other hand, very much can measure themselves in generations. And there are family businesses that go back centuries. The Rothschilds investment banking empire can date itself to the early 18th century and Bavaria. The Kikkoman Soy Sauce company is actually a Japanese family business. Actually, an amalgamation of eight families in Japan that date back in to the 17th century. Many of the bit of the great a time museums, in fact, are legacies of the Milanese merchant bankers that date back to the Renaissance.

Mike Blake: [00:02:38] And so, we can see that some family imprints actually last for half a millennia or longer. And so, I’ve become very interested in family businesses because they offer a dynamic that you don’t see anywhere else. So, over the course of the last couple of years, I’ve managed to become, I’m not going to say expert but, at least, reasonably well read. And as is the habit with our podcast, when I know that I’m not an expert, I bring in somebody who is.

Mike Blake: [00:03:09] And so, joining us today is my new friend, Dr. Gaia Marchisio, CEO, who is Executive Director of the Cox Family Enterprise Center at Kennesaw State University, which is a university that’s about 25 miles north and west of downtown Atlanta, maybe 30 miles for those of you who are not from the Atlanta area, where she is also an Associate Professor of Management. She holds a doctorate from the University of di Pavia in Italy. I hope I’m pronouncing that correctly. And her research interests include family businesses, business strategy and business communication.

Mike Blake: [00:03:42] Some of her publications include Game Theory and Family Business Succession, Narcissism in Organizational Context – I’ve got to read that one – The OOIDA Loop: A New Strategic Management Approach for Family Business; From Burning Out to Being On Fire: A Conceptual Model of Burnout in the Family Business. Corporate Venturing in Family Business – it’s a topic that’s near and dear to my heart – The Effects on the Family and Its Members. And she’s also the author of several chapters in other books as as well. And on the the list of hits goes on and on and on.

Mike Blake: [00:04:16] The Cox Family Enterprise Center is the oldest of its kind in the world, founded in 1987, holistically supporting business families by creating comprehensive education tailored to their needs. And by the way, again, for those of you who are not in the Atlanta area, the Cox family themselves are a family business. They are on – Guy will correct me – but either the second or third generation. They are telecommunications and internet data magnates, media magnates here in the Atlanta area.

Mike Blake: [00:04:48] For those working within family enterprises, the Cox Family Enterprise Center offers programs designed to foster greater strength and services intended to create degenerates synergy in both family and business contexts. For those working as advisors to business families, the Cox Family Enterprise Center has designed education to deepen their perspectives and equips them with the necessary skills for working in their field. Both getting these efforts, they engage in industry-shaping research and undergraduate and graduate educations for the Coles College of Business at Kennesaw State University. At the core of these efforts perpetually remains their commitment to education as a crucial tool for enhancing the wealth and success of the entire community. Professor Marchisio, thanks for coming in today.

Dr. Gaia Marchisio: [00:05:29] Thank you for having me.

Mike Blake: [00:05:31] So, let’s start because it may not necessarily be obvious, what makes a business a family business? At what point does a business evolve from just sort of being something or somebody started up, and then we classify it as a family business?

Dr. Gaia Marchisio: [00:05:46] Sure. I can give you the traditional description. And then, I would like to add some of the more recent thoughts that I think we have to think about. So, typically, we have an entrepreneur, as you mentioned, that start the business. And at some point, he or she can have the family joining in the ownership structure. And that’s number one. Now, there is some debate around whether should the family have the majority to be classified as a family business. Typically, we say that they need to have enough control to have decision making power on strategic decisions. Then, there is another component. Do they need to have the family working in the company of not to be a family business? And that’s another layer. And do they need to have the intention to pass the company to the next generation?

Dr. Gaia Marchisio: [00:06:38] One thing I think it’s very important to really define whether family is a family business or not is that, do they have the mindset? Do they think as a we as a family or are they do everything they can with the tools they have from their ownership perspective to maintain their control in one person? Because that would still be an entrepreneurial family with just a little bit larger pool of owners, as opposed to start thinking as we, as a family, as a multitude of people that as owners have to make the key important decisions.

Mike Blake: [00:07:14] And is there a particular point that kind of prompts that conversion from being a family that happens to own a business to then being a family business? Is there a typical point at which that is restart? Does each family get there differently?

Dr. Gaia Marchisio: [00:07:30] I think a little bit of both.

Mike Blake: [00:07:30] Got it.

Dr. Gaia Marchisio: [00:07:33] So, some is the life event. They may bring them there. So, it can be a challenge and an opportunity at the same time. And other families become more intentional in doing so. So, they are mindful they want that to happen. And so, they start working to get ready to be able to make those decisions together, because that’s the biggest difference is how the whole decision making process in the ownership or in the daily operation change when it’s not more one person making the whole decision, but you have to share and create alignment around the key most important.

Mike Blake: [00:08:09] Now, what what are things that make family businesses different from, I guess, a non-family business, if you will?

Dr. Gaia Marchisio: [00:08:18] Several. The most well known probably is what you mentioned before, these orientation to longevity to think about across generations. They call it patient capital. I think for what I see through both research and practice, there are other factors that we have to take into consideration. One has to do with the goal setting of their company. Typically, there is a way to think about the business of the business is business. And so, having a heavy goal around making money, which is great, don’t get me wrong, and creating a different perspective, which is money becomes a tool instead of the end goal. And they allow for a variety of other reasons why to be in business. From just being with you … not just. From being with my family, creating more job opportunities, have any impact on the community, create some good. So, it can be really different from every family, but it has a lot of to do with, why are we in business, and what’s the purpose of what we do?

Mike Blake: [00:09:22] I think that patient capital point is extremely important. One of the things I’ve learned as I’ve had to give myself a crash course on family businesses, I think one of the things that makes them unusual, and we’ll talk about, extraordinarily successful is the fact they are patient capital.

Dr. Gaia Marchisio: [00:09:41] Yeah.

Mike Blake: [00:09:41] Right? So many businesses, even private ones, measure themselves by the monthly P&L, the quarterly P&L, even the annual P&L. And in some cases that’s appropriate. But on the other hand, it leads to a short-term thinking that leaves longer term opportunities on the table, I think. And when you are thinking in terms of multi-generational investing, where the time horizon is almost taken off the table, it kind of opens different opportunities, doesn’t it?

Dr. Gaia Marchisio: [00:10:12] Right, absolutely. And I want to stress these. We’re not saying that orientation to the short term shouldn’t be there. So, it’s a short and long term. The difference I think is that in non-family business, the short is the everything; while I think that family has a capacity to absorb some sacrifice in the short to invest and to have other consideration, like what kind of quality do … Is profit at any cost? What does it cost not only for the company, but for the shareholders, but also for the employees? How does that change the relationship with them? How does it change the quality of what we give to the clients?

Dr. Gaia Marchisio: [00:10:54] You mentioned some companies who went through generations. Some of them had to make very difficult decisions around quantity of their product that if they weren’t at the quality that they wanted to, they decide to withdraw them from the market, absorb a huge loss, but maintaining that long-term relationship and trust with the clients, which is a very important piece to be able to stay in business for so long. So, I think that shift a little bit the whole idea around corporate social responsibility, that often  is a mistakenly taken as a giving away some money to reduce stocks, and having a true deep understanding of all the different stakeholders, and how can I create long-term relationship which each of them, so that I can survive over time and thrive, not just survive.

Mike Blake: [00:11:51] So, what led to your interests in family businesses? Why have you devoted your life to researching this phenomenon?

Dr. Gaia Marchisio: [00:12:03] I was once. I was raised as a next gen. I had no idea there was a whole community of people like us. I saw … I’m dating myself. That was over 30 years ago when the whole thing kind of hit me. I was in college. I saw that there were professors who were talking about things were happening in my family without knowing my family. They were describing me and all of us in a way that nobody else we’re able to capture. And when my family came to the decision of closing the business, at that point, I realized that what if we had the help that we needed at the time? And because it didn’t work for me. I thought, well, maybe we can learn some of the pain and the mistakes that have been made. How about turning that in a great opportunity to help other families?

Dr. Gaia Marchisio: [00:12:54] And then, I was very fortunate to have a great mentor back then, my professor, who is a leading authority in the field in Europe. And from there, I started intentionally learning more and making sure that my story was important enough to inspire the motivation but not condition the way I was looking at other families. So, to not have a lens that pre-determined a way of looking at these companies.

Mike Blake: [00:13:22] So, what are you researching now that is interesting? And why do you think that research is important?

Dr. Gaia Marchisio: [00:13:30] So, all my life I devoted my research mainly to next generation with the idea of it’s important to understand before getting to the business. And then, I realized that, really, what’s the biggest challenge and the biggest opportunity is once you’re entering the company; and hence, the topic you’re mentioning about entrepreneurship and how can you be an entrepreneur in an already existing company? What’s the effect? We talk about burnout. What’s the effect on the emotional attachment?

Dr. Gaia Marchisio: [00:14:01] More recently, I realized that family enterprises exists in a bigger ecosystem. And there is a huge overlook at the advisors that serve families. I commend what you said before that you have started reading and putting yourself in a place of as a learner of family. Not just because we work with client, that makes us experts. And what I realized before in the last five years is there is a huge need and huge opportunities in that community to create more awareness around what is that you need to learn before being able to work with this client.

Dr. Gaia Marchisio: [00:14:44] And so, the research with my team at Kennesaw we are putting together, it’s a survey and it’s aimed to better understand how advisor – being attorneys, being accountants, financial planners, so everyone that lives in this space, which is very much needed, where are they? What are their way of working with families? And there is not enough understanding of what is an effective way of working with clients that is not just anecdotal. And I don’t think we can dare to try without some reasonable support from research. As always, it has to be the relevance that comes from practice, but the rigor that come from research.

Mike Blake: [00:15:31] So, we’re talking about facts and talking about research. One of the things that I’ve learned that surprised me is that data, now, seems pretty consistent and pretty clearly indicate that family-owned businesses not only generate higher returns than their non-family counterparts but, also, at lower risk. Have you seen similar data? And if so, what do you think are the reasons for that?

Dr. Gaia Marchisio: [00:15:59] Well, I’ve seen the similar data. I have to be careful, I’m pausing because I want to be mindful and not reduce what I’ve seen, what’s my experience, which is long, but it’s not the whole thing. So, I don’t want to jump on something. What could be the-

Mike Blake: [00:16:23] The problem is it’s hard, right, because it’s hard enough to observe even how family businesses perform.

Dr. Gaia Marchisio: [00:16:28] Right.

Mike Blake: [00:16:29] But then, collecting the data to really run the analytics to find out why.

Dr. Gaia Marchisio: [00:16:33] Exactly.

Mike Blake: [00:16:34] It’s difficult to do it from a fact-based perspective.

Dr. Gaia Marchisio: [00:16:37] Absolutely. So, that’s why I was pausing because before expressing an opinion on something that is so important. It was because I have kind of a skewed perspective because when they come to me is because they are in trouble. Because I’m in the line of business of helping those families to get to be the one performing better. So, I think that the biggest shift, that’s what I feel comfortable saying, the big shift is when they become intentional. So, when they they realize that there is some work that needs to be done. And the fact that their family doesn’t prevent them from … so, yes, you know each other, but it’s a profound shift in to thinking, what is that we need to do, not just in reaction to opportunities that comes, which is a great way of growing above all in the first stages of a company, but at some point, what are the things that we need to do in the family, in the ownership, and in the business setting.

Mike Blake: [00:17:36] So, I would speculate. I’m not an academic. But if I were to undertake an academic study, one hypothesis I would explore would be this long-term time horizon because there’s there’s been a lot of data. And Warren Buffett’s a big proponent of this, that long-term sort of buy and hold over time as a return maximizing strategy, especially on a risk adjusted basis, I think families are very good at that. You touched upon something that I wonder if this is the case as well, and that’ll be a hypothesis I’ll explore is family businesses have a mission beyond making money? They realize they have to make money to sustain themselves, but I’m a huge fan of Simon Sinek. Simon, if you’re listening, come on the podcast. We’s love to have you on.

Dr. Gaia Marchisio: [00:17:36] I adore him. I adore him.

Mike Blake: [00:18:29] So, I just finished his book, The Infinite Game. And there’s no better example in the real world of the infinite game than the multi-generational family business.

Dr. Gaia Marchisio: [00:18:39] Absolutely.

Mike Blake: [00:18:39] So, the hypothesis I would explore would be is the fact that family businesses play that infinite game, a driver behind their their outsized success relative to their peer group.

Dr. Gaia Marchisio: [00:18:52] Absolutely. I was looking forward to that book. I think it’s a very important kind of approach. And this is what I actually suggest families in my daily work with them. And in fact, I think, that it’s one of the key success factors. Those might create a mindset that are about continuous learning and continuous improvement. And reducing the competition and the confronting themselves with others. They’re all internally. I think that internal competition is really not ideal within families, but it’s more about how can we keep getting better with that perspective of the long-term impacting more stakeholders.

Mike Blake: [00:19:35] And an area of research or an area of study that I think overlaps, but it’s not entirely the same thing, are hundred-year business phenomena. Some businesses do last a hundred years, but they change ownership. Others, of course, may stay within the family. And I suspect there’s a lot of overlap there. And one of the things you talked about, that how does a business last a hundred years in any form? They must be in a learning mode. And they must be willing, at some point, to disrupt themselves because technology taste must change over a century period or longer, right? How does how does Ford remain relevant a hundred years later?

Dr. Gaia Marchisio: [00:20:22] And then, I think that we didn’t do a good job as as academics and advisors for a long time, because the whole field … And I get that it’s part of the evolution and it’s a learning process for the field itself, but the whole point is around successions. As if that’s the only moment in time where family needs to look at themselves and their businesses. While I always make the example, what is that you own anything from a car to a dishwasher that leaves longer than a year that you don’t put maintenance, that you don’t want intentional work?

Dr. Gaia Marchisio: [00:20:59] Even on the relationship, right? So, the only thing we know is that everything constantly change. And the huge mistake is to look at these every 20-30 years when succession happens because imagine what has even happened in these last two days in this world and how that has been completely disruptive. So, now, without thinking such an extreme example, but individuals in the family keep changing. Family has great event to minor event that keep changing perspective needs, desire. The company keeps changing.

Dr. Gaia Marchisio: [00:21:33] So, it’s crazy not to keep an eye on. And not just monitor but becoming, again, intentional around what are the things that we want to change, and keeping the communication open. Because people always ask me about communication in family business. It’s not just the quality of the communication, that’s a whole chapter in itself, but it’s also the quantity. How often do we have communication? And do we even finish our communication? Do we finish the conversation that we start?

Dr. Gaia Marchisio: [00:22:06] My colleague, Marj Blum, she’s a psychologist, and we work together with the rest of the team. she is huge on this point around making sure that we finish the communication because we start so many topics, but we never end up. And so, we have the illusion of communication. And when you have to keep changing, that’s one of the most important tool that we have.

Mike Blake: [00:22:30] So, one of the things forces that is always there that’s going to press for a family business to end is a desire for liquidity. The name of the game now – I think, really more so now than a generation ago – is every company must be built to sell. And you’re not really successful until a private equity firm buys you, your IPO, or something happens, and you have a big pile of cash that you can then distribute to your family members. And I think that does, sometimes, drive both the desire for the family business. I think it, also, is harmful to the family fortune. Liquidity is not always the best thing in the world for everybody. If a family business is feeling the pressure to become more liquid, are there alternatives they can consider other than simply selling out in order to satisfy whatever the cash needs or wants of the family are, so they can have the cash, but keep the engine that generates the cash as well?

Dr. Gaia Marchisio: [00:23:34] I’m a huge fan of why people do what they do or they don’t do what they don’t do, which is another reason why I like Simon Sinek so much. And so, I think that what’s very important for each family to consider is why to sell the company, but also why to keep the company because I think they’re related but they’re different. And so many times I see struggle in the family or struggle in the business, but I want to focus on the struggle in the family, and how many times family think, “If we didn’t have the business, this wouldn’t be the case.” And they’re are strongly invited or recommended to sell the company thinking that, “If I don’t have a company anymore, I won’t have those issues.” And rest assured that they sell the company, and there are different levels of engagement in that decisions. And people can look back and be very frustrated because they probably gave away something that they loved.

Dr. Gaia Marchisio: [00:24:35] And so, thinking why things are a struggle, where do they originate, and what’s the right decision to fix the root cause of the trouble, not the symptoms? Because being unease in the relationship, it’s normal. It’s not necessarily symptoms that something is wrong, but it’s more of the fact that it’s difficult to stay in relationship, and live together, work together, making and sharing decisions. It requires work. And so, why to sell? What are the real reason? And on the other hand, give the family, and above all, the next generation a purpose to keep that company because it’s a different thing. And it has to be a higher reason because of the work that is required prior to that.

Mike Blake: [00:25:24] So, one of the challenges I think many family businesses face, if they’re going to keep the family businesses, who’s the next person who’s going to run it? And sometimes, I know the Mars family, for example, they are notorious or they’re famous for the fact that, basically, cradle to grave, they groom you to run that business. You work in there as a toddler, which is interesting for a candy business. But  in other cases, things don’t work out where there’s necessarily an obvious successor, right? You may not have children. You may have children, but they’re not business people. Can a family hang onto a business or maintain control of a business in that scenario? And if so, how do they go about it?

Dr. Gaia Marchisio: [00:26:07] So, choosing to not run the business, I think, is one of the toughest. And I remember years ago, I was in China, I was giving a lecture there, and there was a 20-year-old boy who start crying as I was picking. And I immediately thought, “Oh, my gosh. Did I say anything wrong?” So, end of the class. I went there, I talked to him, and he explained to me that those tears were of joy. And I was like, “What do you mean?” And he said, “Well, all my life, I was raised with the expectation I was supposed to be the next one. And as much as I loved my family and the business, I don’t see myself being there. And so, hearing that you don’t cease to be a family business if you don’t operate the business is a huge relief. And now, we have to talk about that.”

Dr. Gaia Marchisio: [00:26:55] So, for sure, it’s not a simple decision. It’s almost a make or buy kind of decisions. What competence can you find on the market? And it opens a conversation around, what kind of person do you want? What kind of governance mechanism between the owners and the management you want to have? How to navigate boundaries? You want to make sure that the person don’t miss the importance of the culture and the values that the family want to have. So, it requires a lot of coordination, but it will also open two great opportunities for growth.

Dr. Gaia Marchisio: [00:27:33] And here’s the other thing. We, historically, are used to think about the family business as one family, one business. And I think that some of the shift that has been happening is to think about entrepreneurs … enterprising families, sorry, where it could be that you can generate an abundance of opportunities if you use your human capital, intellectual capital as a family to start even more than a company, and then to choose to have someone who helps to run. And that creates an opportunity to scale without losing who you are.

Mike Blake: [00:28:10] And sometimes, family businesses evolve into multi-family businesses, right?

Dr. Gaia Marchisio: [00:28:13] Absolutely.

Mike Blake: [00:28:13] I think La Roche, the Swedish … I’m sorry, Swiss pharmaceutical company, I can;t remember now. There’s another family name that’s associated with it but, over time, they became intertwined with a second family that provided new blood and expertise. So, they can evolve that way. And then, there are the Mercks that have been around in Germany since the early 19th Century. And their family weaves in and out of direct management. They have a separate board. So, there are models around there. Even if you think there’s no way the family can do that, you can still hang onto it.

Dr. Gaia Marchisio: [00:28:46] Yes. And they are way more common than we think about. Now, of course, it’s really complex to have one family running one business. And so, for sure, finding the right partners. As every partnership, you need to have trust and you have to have a similar values because if you have these two conditions, some that you create, some that you need since the beginning. And again, it’s the evolution. It’s managing how they both grow. And it’s more complexity, for sure, but I do believe strongly that this can be a great opportunity for growth.

Mike Blake: [00:29:28] Now, we know, and you hinted at this, that families sometimes are highly functional and some families are not as highly functional. And in America, we have this holiday called Thanksgiving where we devote one day to making sure that families are as dysfunctional as we can possibly make them. Can a dysfunctional family have a functional family business?

Dr. Gaia Marchisio: [00:29:53] So, sometimes, I think that we use the term dysfunction easily. And I think that it’s important to have people that are experts in that field to use that appropriately. I think that what often is described as dysfunctional is more a family who has to learn how to navigate through some of the dynamics that are very normal given the age and the stage , both of the individual and the family combined. If you think about that, one thing that everyone has is a family. Nobody teaches us about that. Nobody teaches how a family function. Nobody teach us what is normal. We have classes of how to run a business. We don’t have a minute spent to learn how to run interaction. We expect that because we are family, we know each other. And probably, the last time you had a conversation with your children is before they left for college and think how much they changed. And we all grow.

Dr. Gaia Marchisio: [00:29:53] And so, first point is not everything that looks dysfunctional is actually dysfunctional. And second point is when it’s really becoming dysfunctional because, unfortunately, there are those situations that are extremely painful – and so, have a huge respect for that – again, it’s a matter of choice.  Do I want to put the work there to make that better? What can I do to protect the business? Because their system, their open system, there are spillovers when bad things happen in the family that end up being in the company as well. It depends to the extent. So, I think that it’s important to create mechanisms that can prevent and protect the company.

Dr. Gaia Marchisio: [00:31:44] Is that for sure 100% proof? Probably at the cost of some individual expenses  both emotionally and physically. So, it is possible. I have in mind a few examples. Would I strongly recommend to not take care of your family dynamics because in any case, you can have a profitable business? Again, it’s what you want for your life. And I think that the other big mistake that has been shared is that it’s okay to separate family and business because to be professional, you need to pretend the family is not there. That’s a huge lie. We can’t pretend that the family is not there. We can’t pretend that emotions are not there. We don’t have to act emotionally and reactively in the business setting, but we have to respect and work with what we have in the family.

Mike Blake: [00:32:42] So, are there particular tools and techniques that that you’ve observed that are successful in helping them manage that dynamic?

Dr. Gaia Marchisio: [00:32:51] Yes, I think that talking about that is number one, right?

Mike Blake: [00:32:56] Yeah.

Dr. Gaia Marchisio: [00:32:56] And I put that as the number one because my biggest fear around tools is that we are culture-oriented to a solution, which is great. We don’t want to drag up problems. But I don’t think that we spend enough time understanding what is it that we’re really trying to solve. And because there are a bunch of tools in the market ready to be used and promise an easy fix, I don’t believe in easy fix above all when it comes to family and when it comes to family and businesses together.

Dr. Gaia Marchisio: [00:33:27] So, yes, can you put in place governance? Governance is excellent tool. Different kind of governance, different way of implementing. But expecting that governance is the panacea for everything happening is very wrong. Trusts are great tools. But again, it’s a tool. Applying a trust to every family to protect it, it cannot be the right thing. It’s like the difference between a screwdriver and a pot. Can you cook with a screwdriver? No. Is a screwdriver a great tool? Yes. It depends on what you need. So, I urge advisors, as well as families, to be very mindful. Not one tool fits every situation, which is unfortunately way more the case that I see happening.

Mike Blake: [00:34:15] Well, that’s the reason for your family enterprise center, right, is you explore those things and each family is going to probably need a different set of tools and even at different times, I’m guessing.

Dr. Gaia Marchisio: [00:34:26] Absolutely. I think that what family needs is to be empowered to learn and understand what they need. They will always need advisors. That’s the beauty of that interdependent relationship. But I think that what’s very important is to teach these families what they need and how to problem solve together, how to identify the challenge that they have, so that they can be more intentional and proactive in choosing it. Because at the end of the day, advisors, we are they are, even the longer relationship, but at some point, we leave and they have to stay and live with the consequences of the choices that they make.

Dr. Gaia Marchisio: [00:35:03] So, the biggest favor if you are a family business owner listening is to really invest in understanding enough to be able to have a more educated conversation. It is scary to me when I have family, and I can tell you how many that they have trusts and documents in place that they signed because they blindly trust their advisor, which is great trust in someone. But I heard people say, “That the document so complicated. It must be good, so I signed it.” And it’s not just once that has happened. And it comes from people that I know that are very business savvy. So, it’s never allowing the … I mean, it’s understanding that you don’t have to give up on understanding, and growing, and improving your capacity as as a family and as owners.

Mike Blake: [00:36:00] So, I’m going to ask you right now the toughest question of the interview.

Dr. Gaia Marchisio: [00:36:04] All right.

Mike Blake: [00:36:05] And that question is, I know you’re a big fan of family businesses, as am I, but not every family business is gonna work out, right? In your case, you said – I did not know this – that you come from a family business that ultimately was sold. How do you recognize where you’ve got problems that are so deep that it really is the best thing to sell the business and kind of get a clean slate or it’s just not going to be recoverable?

Dr. Gaia Marchisio: [00:36:45] I don’t want to answer that question.

Mike Blake: [00:36:47] I didn’t think you would.

Dr. Gaia Marchisio: [00:36:47] No, no, no, no. But let me let me say why and how. So, I’m a a huge, passionate person of medical doctors in that field. And I think that we can learn so much from there. I think it’s a big issue around boundaries. What’s our job as someone who helps families there? And what I’m going with this is I do believe that it’s mainly an educated choice for the people in the situation. I’ve seen families who chose to stay in incredibly difficult situations, and they had their own reasons. So, I think that it’s about respecting that it’s our responsibility and our job to help them think about what’s recoverable and what’s not.

Dr. Gaia Marchisio: [00:37:42] What I know is that the more people wait to raise difficult conversations, which I’m not saying go home now and talk about the elephant in the room that has been there for 30 years in your family, but if things are-.

Mike Blake: [00:37:56] That’s what’s Thanksgiving’s for.

Dr. Gaia Marchisio: [00:37:57] Exactly, exactly. And even without wanting that just to happen. But my point is the fact that we don’t talk about difficult things, it doesn’t make them go away. Just make them grow even stronger. So, those families that I saw that they came to the conclusion that it’s better to go separate ways, there is a way to get there where exiting the company doesn’t mean exiting the family. There is a way to even get there, which is actually a great decision for the good of the family and the good of the business. So, I think that as much as the family can provide value to the business and the business can provide value – and I’m not just talking about financial value – it’s worth trying. Where that threshold is, it’s all about the family.

Dr. Gaia Marchisio: [00:38:44] That’s why I was talking about boundaries. I’ve seen so much biases on behalf of advisors that really push for people to leave and to go away because of their own choices or preferences. I think that our job is, really, to help families think through why it’s worth to keep it. why is that worth to give you the way and to think at the same time, which is the most difficult thing because we live in a culture where it’s either or. Is that the family or the business more important? I’m a huge believer that both has to be important for the individual, and the family, and the business. And in that tiny word ‘and,’ that lies all the complexity of how can you manage three systems to be able to coexist in the long term?

Mike Blake: [00:39:42] Aside from Cox, because I know there’s a special interest in relationship there, what is an example of a family business that is successful? Who’s really doing it well that you can talk about?

Dr. Gaia Marchisio: [00:39:56] I’m always resistant to give names. I think those families that are great at learning, and keep learning and learning from their mistakes, that they see every situation, and keep trying, and put a lot of work, and they don’t allow for a difficult moment to become their life’s work. Become a learning family. And when I talk about becoming a learning family, I’m not saying that everyone needs to go in and sign up for an educational class. That’s a piece of that. But a learning family is the infinite game we’re talking before. It’s this idea of how can I … okay, so last week, and I quote this woman, the company is CI², they were one of the honorees. We have a yearly honoration, which is as the word says, honoring and celebrating companies.

Dr. Gaia Marchisio: [00:40:52] And one of the six finalists, we had is Mrs. Andrella. And she’s the founder of CI². They manage an incredible number of controlled-towering airports in the US and the Caribbean. And her mantra is she wakes up every morning, and her pray is, “Let be today better than yesterday.”So, I commend and I love her intention as an individual, as a businesswoman, and as a business owner to wake up with intention of, how can I make today better than yesterday? I think that if a family is able to do something like that, even the mistake that we all make to have become something totally different and an opportunity for growth.

Mike Blake: [00:41:46] We are out of and and past time, but we could easily make this a three-part series or longer but unfortunately, can’t. If somebody is looking at a family business and is thinking about these issues, how can they contact you to learn more?

Dr. Gaia Marchisio: [00:42:02] So, we have our website. And otherwise, we have a relatively easy e-mail address. Am I allowed to plug it?

Mike Blake: [00:42:11] Yes, please. Yeah.

Dr. Gaia Marchisio: [00:42:12] Okay. It’s cfec@kennesaw.edu. cfec@kennesaw.edu. And we are happy to have a conversation with whomever wants to learn more. And I really want to thank you for being one of those people that really are into learning and getting better. It is refreshing to meet people like you, and it’s very meaningful. So, thank you.

Mike Blake: [00:42:37] Well, when you get to know me, you won’t think so highly of me. But that’s going to wrap it up for today’s program. I’d like to thank Dr. Gaia Marchisio so much for joining us and sharing her expertise with us today.

Mike Blake: [00:42:47] We’ll be exploring a new topic each week. So, please tune in, so that when you’re faced with your next executive decision, you have clearer vision when making it. If you enjoy this podcast, please consider leaving your review with your favorite podcast aggregator. It helps people find us, so that we can help them. Once again, this is Mike Blake. Our sponsor is Brady Ware & Company. And this has been the Decision Vision Podcast.

Tagged With: Brady Ware, Brady Ware & Company, Cox Family Enterprise Center, Family Business, family business owners, family business transition, Gaia Marchisio, Kennesaw State University, KSU Coles College of Business, Michael Blake, Mike Blake, patient capital, sell the family business, selling a family business

Top Tips for LinkedIn Job Search Success, with Gregg Burkhalter, “The LinkedIn Guy”

April 21, 2020 by John Ray

LinkedIn job search
North Fulton Business Radio
Top Tips for LinkedIn Job Search Success, with Gregg Burkhalter, "The LinkedIn Guy"
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LinkedIn job search
Gregg Burkhalter

Top Tips for LinkedIn Job Search Success, with Gregg Burkhalter, “The LinkedIn Guy” (North Fulton Business Radio, Episode 221)

LinkedIn and personal branding authority Gregg Burkhalter joins “North Fulton Business Radio” to give job seekers guidance and tips on how to leverage LinkedIn for their job search. The host of “North Fulton Business Radio” is John Ray and the show is produced virtually by the North Fulton studio of Business RadioX® in Alpharetta.

Gregg Burkhalter, “The LinkedIn Guy” and Personal Branding Authority

Gregg Burkhalter is a recognized authority on Personal Branding and LinkedIn. He has helped countless professionals in the U.S. and abroad define and grow their Personal Brand using LinkedIn.

Gregg spent the first part of his professional career behind the microphone at radio stations in Savannah, Jacksonville, Charleston, and Atlanta. Following his radio years, Gregg worked in national music marketing and distribution.

Today, Gregg is known by many as “The LinkedIn Guy”. He provides Personal Branding Coaching and LinkedIn Training via one-on-one and group training sessions, corporate presentations and webinars.

To learn more, visit Gregg’s website. You can also connect with Gregg on LinkedIn, or call him at 770-313-2385.

Questions and Topics in this Interview:

  • improving your LinkedIn profile
  • the value of LinkedIn in a job search
  • how a recruiter evaluates job seekers on LinkedIn
  • the importance of networking on LinkedIn
  • searching for job openings on LinkedIn
  • should a job seeker use the paid version of LinkedIn?
  • increased activity, vs. lower engagement, on LinkedIn
  • how and what to post on LinkedIn if you’re a job seeker
LinkedIn job search

North Fulton Business Radio” is produced virtually from the North Fulton studio of Business RadioX® 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, iHeart Radio, Stitcher, TuneIn, and others.

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.

Tagged With: gregg burkhalter, John Ray, linkedin guy, LinkedIn job search, networking on LinkedIn, North Fulton Business Radio, recruiter, searching for job openings on LinkedIn, the linkedin guy

Dawn Smith, Smith & Lake

April 20, 2020 by John Ray

Smith & Lake
North Fulton Business Radio
Dawn Smith, Smith & Lake
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Dawn Smith, Smith & Lake
Dawn Smith, Smith & Lake

Dawn Smith, Smith & Lake  (North Fulton Business Radio, Episode 220)

Smith & Lake partner Dawn Smith joined “North Fulton Business Radio” to discuss the unique issues involved in co-parenting in a pandemic, planning for a divorce, and much more. The host of “North Fulton Business Radio” is John Ray and the show is produced virtually by the North Fulton studio of Business RadioX® in Alpharetta.

Dawn Smith, Partner, Smith & Lake

Smith & Lake is a law firm dedicated to assisting individuals and children obtain fair and favorable results in family law matters. Our lawyers have extensive experience working with and for judges and bring this unique perspective to each client’s case. They are seasoned and successful litigators, negotiators, and guardian ad litems. This breadth of experience and perspective allow Smith & Lake to craft and achieve smart solutions that fit each client’s situation. Our experience as Georgia attorneys has allowed us the opportunity to represent spouses, partners, mothers and fathers facing issues from divorce to child custody to domestic violence. We understand the enormity of the decisions you face and welcome the opportunity to discuss your personal situation in greater detail to help you understand how Georgia laws apply to you and your best course of action.

Dawn Smith is a partner at Smith & Lake, LLC where she practices family and education law. She has represented children and families for over 28 years. Immediately prior to joining the firm, Dawn was a partner at one of Atlanta’s most prestigious family law firms. She also served as Deputy Director of Atlanta Volunteer Lawyers Foundation where she was responsible for administration of the city’s largest pro bono family law program. In this role, Dawn worked in partnership with the Judges of the Fulton County Family Court to provide trained Guardian ad Litems in contested custody matters. She has trained Guardian ad Litems throughout the state and has lectured on their role nationally. Dawn is frequently appointed by Courts to serve as Guardian ad Litem in family law cases. She also is a certified arbitrator and mediates family law cases. Dawn is one of 40 fellows of the Georgia Chapter of the American Academy of Matrimonial Lawyers, a highly respected organization comprised of the top family law practitioners in the State. In 2017 and 2018 she was named to the Super Lawyers® list of Top 50 Women in Georgia, in addition to being named Top 100 Super Lawyers in Georgia.

In addition to her expertise in family law, Dawn is recognized as one of the leading advocates for the civil and educational rights of children with disabilities. She is the past President of the Board of Directors of the Council of Parent Attorneys and Advocates, the national membership organization for special education attorneys and advocates. She has pursued actions on behalf of children in state and federal trial courts as well as in the 11th Circuit Court of Appeals and the United States Supreme Court. Dawn is a frequent lecturer both nationally and locally on the rights of children. At the firm, Dawn provides quality legal services on behalf of children and lends her expertise in this area to all of our family law endeavors.

To learn more, visit the Smith &. Lake website or call 404-909-8300.

Questions and Topics in this Interview:

  • co-parenting
  • More from Dawn on co-parenting in the unique circumstances of Covid-19 can be found here:  https://www.smithlakelaw.com/blogs/co-parenting-and-the-unique-circumstances-presented-by-covid-19/
  • protecting children in a divorce
  • planning for a divorce
  • More from Dawn on planning for a divorce during Covid-19:  https://www.smithlakelaw.com/blogs/divorce-during-covid-19/
  • are family law courts operating?
  • how does unemployment or a business slowdown affect spousal and child support?
Smith & Lake

North Fulton Business Radio” is produced virtually from the North Fulton studio of Business RadioX® 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, iHeart Radio, Stitcher, TuneIn, and others.

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.

Tagged With: arbitrator, co-parenting, Dawn Smith, divorce, Divorce Attorney, Family Law, Guardian ad Litems, protecting children in a divorce, rights of children, Smith & Lake, spousal and child support

“Should I Quit Selling in this Chaotic Business Climate?,” an Interview with Scott Siegel, Beacon Sales Advisors

April 17, 2020 by John Ray

should I quit selling
North Fulton Business Radio
"Should I Quit Selling in this Chaotic Business Climate?," an Interview with Scott Siegel, Beacon Sales Advisors
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should I quit selling
Scott Siegel, Beacon Sales Advisors

“Should I Quit Selling in this Chaotic Business Climate?” – Scott Siegel, Beacon Sales Advisors (North Fulton Business Radio, Episode 219)

Sales authority Scott Siegel joins us to discuss the number one question he’s fielding from clients right now:  “should I quit selling in this chaotic business climate?” It’s a must-listen show for business owners and sales managers concerned on how to manage sales in this Covid-19 world.  The host of “North Fulton Business Radio” is John Ray and the show is produced virtually from the North Fulton studio of Business RadioX® in Alpharetta.

Scott Siegel, Founder, Beacon Sales Advisors

should I quit selling
Scott Siegel ,Beacon Sales Advisors (picture taken in a previous studio visit)

Scott Siegel is the founder of Beacon Sales Advisors. He is an outsourced, fractional Vice President of Sales, who focuses on helping small and mid-size companies optimize their sales strategy, process, and execution. Scott helps companies with hiring and developing the sales force, transforming company sales culture, implementing new sales processes and procedures, and instilling best practices. He focuses not only at the strategic level but also at the tactical level; all to help companies achieve record-breaking sales.

Scott earned his bachelor’s from West Virginia Wesleyan and an MBA from the University of New Haven. He started his career with Frito-Lay and worked for Welch’s, Keurig Green Mountain and good2grow leading sales organizations ranging from $25 million to $3 billion. Scott’s held broad cross-functional leadership roles in national sales, field sales, operations, marketing and corporate strategy.
To learn more, go to the Beacon Sales Advisors website, email Scott, or call directly: 978-881-4069.

Questions and Topics in this Interview:

  • Should I quit selling in this terrible economic climate?
  • sales prospecting
  • pivoting your business
  • what works in sales right now
  • sales basics
  • building relationships
  • evaluating the sales pipeline
  • managing a sales team now
  • “trust the process”

North Fulton Business Radio” is produced virtually from the North Fulton studio of Business RadioX® 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, iHeart Radio, Stitcher, TuneIn, and others.

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.

 

Tagged With: Beacon Sales Advisors, building relationships, John Ray, managing a sales team, North Fulton Business Radio, pivoting your business, relationships, Sales, sales basics, sales pipeline, sales prospecting, Scott Siegel, trust the process, what works in sales

Decision Vision Episode 61, “How Do I Manage My Business Real Estate in a COVID-19 World?” – An Interview with Brooks Morris and Andy Roberts, Cresa Atlanta

April 16, 2020 by John Ray

Cresa Atlanta
Decision Vision
Decision Vision Episode 61, "How Do I Manage My Business Real Estate in a COVID-19 World?" - An Interview with Brooks Morris and Andy Roberts, Cresa Atlanta
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Cresa Atlanta
Clockwise from Upper Left: Brooks Morris, Andy Roberts, and Mike Blake

Decision Vision Episode 61, “How Do I Manage My Business Real Estate in a COVID-19 World?” – An Interview with Brooks Morris and Andy Roberts, Cresa Atlanta

The COVID-19 economic crisis has injected a new dynamic between commercial real estate landlords and their business clients, as questions around rent abatement are coming up. Brooks Morris and Andy Roberts of Cresa Atlanta join “Decision Vision” to discuss this issue and much more. “Decision Vision” is brought to you by Brady Ware & Company.

Brooks Morris, Senior Vice President, Cresa Atlanta

Cresa Atlanta
Brooks Morris, Cresa Atlanta

Brooks Morris, Senior Vice President of Cresa Atlanta, has over 16 years of executive experience. Prior to starting his real estate career, Brooks was with Enterprise Holdings, a $17 billion global transportation company. Brooks is known for recruiting, developing, leading and motivating teams to achieve targeted customer service, sales, operational growth, and profit goals. Brooks was rapidly promoted 4 times to executive positions in different markets with responsibilities overseeing multiple businesses and brands.

Joining Cresa in 2015, Brooks has a mission to deploy his years of experience through client advisement. His unique perspective from multiple angles of real estate transactions allow him to take a holistic approach while consulting on each of his clients needs. His proven results assure the focus will always be to use real estate as a platform to support employee engagement, customer satisfaction, brand recognition, growth, and profitability.

Brooks’ multiple years of experience as a Vice President and Officer at Enterprise Holdings include executing market analysis, site selection, lease negotiations, contract negotiations, P&L management, sales, budgeting, cost control, strategy, project management, and lease administration.

Andy Roberts, Senior Vice President, Cresa Atlanta

Cresa Atlanta
Andy Roberts, Cresa Atlanta

Andy Roberts began his career in commercial real estate at Wells Real Estate Funds by raising capital for various REIT portfolios that are now traded on the NYSE. During his tenure at Wells, Andy developed a passion for counseling clients on the dynamics of investing in commercial real estate.

Following his tenure with REITs, Andy joined Cresa in the summer of 2014 to help clients navigate their real estate decisions in a market where a growing percentage of properties are institutionally owned. Andy enjoys educating clients on the manner their real estate decisions impact not only their financial bottom line but their culture and labor force dynamics as well.

Cresa Atlanta

Cresa is the world’s largest tenant-only commercial real estate firm. In representing tenants exclusively—no landlords or developers—Cresa provides unbiased, conflict-free advice. Its integrated services cover every aspect of a real estate assignment, including strategic planning, employee demographics, workplace strategy, site selection, incentives negotiation, market research, transaction management, project financing, project management, portfolio management, and relocation services. Cresa offers clients customized solutions worldwide through more than 60 global offices.

To find out more on Cresa Atlanta, go to their website.

Michael Blake, Brady Ware & Company

Michael Blake is Host of the “Decision Vision” podcast series and a Director of Brady Ware & Company. Mike specializes in the valuation of intellectual property-driven firms, such as software firms, aerospace firms and professional services firms, most frequently in the capacity as a transaction advisor, helping clients obtain great outcomes from complex transaction opportunities. He is also a specialist in the appraisal of intellectual properties as stand-alone assets, such as software, trade secrets, and patents.

Mike has been a full-time business appraiser for 13 years with public accounting firms, boutique business appraisal firms, and an owner of his own firm. Prior to that, he spent 8 years in venture capital and investment banking, including transactions in the U.S., Israel, Russia, Ukraine, and Belarus.

Brady Ware & Company

Brady Ware & Company is a regional full-service accounting and advisory firm which helps businesses and entrepreneurs make visions a reality. Brady Ware services clients nationally from its offices in Alpharetta, GA; Columbus and Dayton, OH; and Richmond, IN. The firm is growth minded, committed to the regions in which they operate, and most importantly, they make significant investments in their people and service offerings to meet the changing financial needs of those they are privileged to serve. The firm is dedicated to providing results that make a difference for its clients.

Decision Vision Podcast Series

“Decision Vision” is a podcast covering topics and issues facing small business owners and connecting them with solutions from leading experts. This series is presented by Brady Ware & Company. If you are a decision maker for a small business, we’d love to hear from you. Contact us at decisionvision@bradyware.com and make sure to listen to every Thursday to the “Decision Vision” podcast. Past episodes of “Decision Vision” can be found here. “Decision Vision” is produced and broadcast by the North Fulton studio of Business RadioX®.

Visit Brady Ware & Company on social media:

LinkedIn:  https://www.linkedin.com/company/brady-ware/

Facebook: https://www.facebook.com/bradywareCPAs/

Twitter: https://twitter.com/BradyWare

Instagram: https://www.instagram.com/bradywarecompany/

Show Transcript

Intro: [00:00:06] Welcome to Decision Vision, a podcast series focusing on critical business decisions. Brought to you by Brady Ware & Company. Brady Ware is a regional, full-service accounting and advisory firm that helps businesses and entrepreneurs make visions a reality.

Mike Blake: [00:00:26] Welcome to Decision Vision, a podcast giving you, the listener, clear vision to make great decisions. In each episode, we discuss the process of decision making on a different topic from the business owners’ or executives’ perspective. We aren’t necessarily telling you what to do, but we can put you in a position to make an informed decision on your own and understand when you might need help along the way.

Mike Blake: [00:00:44] My name is Mike Blake, and I’m your host for today’s program. I’m a Director at Brady Ware & Company, a full-service accounting firm based in Dayton, Ohio, with offices in Dayton; Columbus, Ohio; Richmond, Indiana; and Alpharetta, Georgia. Brady Ware is sponsoring this podcast, which is being recorded in Atlanta per social distancing protocols. If you like this podcast, please subscribe on your favorite podcast aggregator and please consider leaving a review of the podcast.

Mike Blake: [00:01:11] This is the fourth in a subseries of topics regarding how to address the coronavirus crisis. And as everybody knows by now, we are faced with an unprecedented environment in our economy. And as one of our guests quipped before we started the show, basically, the way that he is helping save the world is by watching Netflix, but I will not out him and reveal what the nature of the show is. He can choose to out himself if he wants to, but I’m not going to do it for him.

Mike Blake: [00:01:48] But that is sort of the world that we’re living in, right? The best way we can help people is to do as little as we possibly can. And as a result of that, we are seeing an unprecedented rebalancing of the economy. We have whole industries such as restaurants that are shutting down en masse. We have other industries that are now booming and considered vital industries such as anything supply chain, grocery stores, drugstores, Amazon.com, and so forth. And we’re even now seeing companies that are stopping the businesses in which they’re normally engaged, so they can manufacture other things. Heinz is supposedly gearing up to manufacture these N95 virus protection masks. And Tesla and Ford are gearing up in partnership with General Electric to produce ventilators. We just haven’t seen anything like this before, certainly not since World War II. And even then, it’s sort of a thing tacked on.

Mike Blake: [00:03:09] So, if you’re like me and most other people who are thrashing around for some kind of guidance on how to address the issues that are now facing all of our businesses, frankly, whether we own the business, we’re an executive, or even an employee trying to help keep the lights on. And today, we’re going to talk about managing real estate assets and obligations in a shutdown world. And real estate is kind of funny. It’s one of those things that you don’t appreciate, I think, until it’s gone, in spite of the fact that we have a president who sort of made his claim to fame initially in real estate. But real estate, no pun intended, is a real issue. It’s no longer being used, and have been under some pressure anyway, particularly on the retail side, but it’s no longer being used.

Mike Blake: [00:04:11] In some cases, it’s being repurposed. We’re seeing hotels in Manhattan that are being commandeered now to serve effectively as field hospitals. That is perhaps an extreme case, but I think that’s going to come to other cities, including Atlanta. And real estate that has been—office areas that have been previously bustling with activity and have been a home away from home, frankly, for millions of employees are now shut down, locked down, basically ghost towns. And this provides a whole unique set of problems, and challenges, and maybe some opportunities too that we need to understand how to address, because just because we’re not working there, that doesn’t mean the real estate and the obligations that go with it suddenly disappear. Those have not shut them.

Mike Blake: [00:05:12] And joining us to help us understand this question are my longtime friends, Brooks Morris and Andy Roberts of Cresa. Now, you may remember, we had another person from Cresa on Jason Jones, who you used to fly navigation and ordinance and A6 intruders. It’s a fly off aircraft carriers. And he came on to help us understand the benefits of hiring veterans. But now, we’re bringing in a couple of people on from Cresa to actually talk about real estate. And Cresa is an international commercial real estate firm headquartered in Washington, DC. And they represent tenants and provide real estate services, including corporate service, strategic planning, transaction management, project management, facilities management, workforce and location planning, portfolio and lease administration, capital markets, supply chain management, sustainability, and sublease, and distribution. Formed in 1993, Cressa now has more than 60 offices and 900 employees.

Mike Blake: [00:06:14] Brooks Morris is a Senior Vice President of Cresa Atlanta with over 20 years of executive experience. Prior to starting his real estate career, Brooks is with Enterprise Holdings, a $17 billion global transportation company. Brooks is known for recruiting, developing, leading and motivating teams to achieve targeted customer service, sales, operational growth and profit goals. He was rapidly promoted four times to executive positions in different markets with responsibilities overseeing multiple businesses and brands.

Mike Blake: [00:06:45] Joining Cresa in 2015 – well, its that long already – and Brooks has a mission to deploy his years of experience to client advisement. His unique perspective from multiple angles of real estate transactions allows him to take a holistic approach while consulting on each of his clients’ needs. His proven results assure focus will always be to use real estate as a platform to support recruiting and retaining talent, brand enhancement, growth and profitability.

Mike Blake: [00:07:14] Brooks grew up in Los Angeles and played baseball for and graduated from the University of California Santa Barbara. I did not know that. He loves spending time with family, reading, golf, sports, water skiing and working in the yard. He and I have to talk about that. I hate working in the yards. Maybe we can make a trade. He and his wife and two children live in the Buckhead neighborhood of Atlanta.

Mike Blake: [00:07:37] Andy Roberts began his commercial real estate career by raising capital for various real estate investment trust portfolios that are now traded on the New York Stock Exchange. Through this experience, Andy developed a passion for consulting clients in the various dynamics of real estate. Andy joined Cresa in mid 2014 to help clients navigate their real estate decisions in a market where a growing percentage of properties are institutionally owned. Andy enjoys educating clients on the idea that their real estate decisions impact not only the financial bottom line but one’s cultural and labor dynamics as well. Andy and his wife, Jill, live in Atlanta with their four young children, where they enjoy spending time together with family and friends. And God knows, they’re getting ample opportunity to do that. Brooks and Andy, thank you so much for joining us on the program.

Brooks Morris: [00:08:25] Thank you, Mike.

Andy Roberts: [00:08:25] Thank you for having us.

Brooks Morris: [00:08:25] Good to be here.

Mike Blake: [00:08:28] So, to I want to start with something that is tangential to the topic, but I think it’s important for people to understand exactly what you do and how you do it because that will help people understand the nature of your informed perspective when we’re talking about today. And that is, what is exactly a tenant representative? It’s not a household name like a fireman, or a doctor, or a lawyer. So, maybe you can explain to our audience what a tenant representative does.

Andy Roberts: [00:09:03] Sure. So, we at Cresa and just in general, a tenant representative exclusively represents tenants. And let me back up. You have a number of commercial real estate firms. Majority of the commercial real estate firms receive a majority of the revenue from landlord representation. A tenant representative focuses on representing tenants, i.e. occupiers or companies. In general, that’s how tenant representative is defined. Now, what’s unique about Cresa, what we do is we exclusively represent tenants, i.e. occupiers. So, we are not representing any landlords, i.e. rich institutional owners. And we do that to remove all conflicts of interest, so that we are completely free to focus on the needs of our clients, the occupiers. We’re free to think beyond space and negotiate as hard as is required on behalf of our clients. So, in general, that’s what a tenant representative does. And that’s what’s unique about Cresa in that we are the largest global firm that exclusively represents tenants or as we define it, occupiers.

Brooks Morris: [00:10:20] And that’s well said. That’s well said by Andy. I’ll add one thing to that to simplify. It’s like in the residential market, you have someone selling a house, and you have a seller’s agent and a buyer’s agent. And we are the buyer’s agent in the commercial space, whether you’re buying real estate or leasing real estate.

Mike Blake: [00:10:49] And on the leasing side, I don’t know this about the buying side, so you can educate me, but at least on the leasing side, even though you’re the buyer’s agent, you make your fee from the seller or the lessor. Correct?

Brooks Morris: [00:11:03] That is correct. Just like in residential commercial real estate, it’s set up in a way that the landlords pay their broker a portion of the fee and the tenant’s broker a portion of the fee.

Mike Blake: [00:11:19] So, let’s wind the clock back to happier or more predictable times. Let’s go back to, say, February 1st. What was the commercial real estate market in Atlanta like at that point?

Brooks Morris: [00:11:36] First of all, February 1st feels like a year or two ago.

Mike Blake: [00:11:41] I know. It does.

Brooks Morris: [00:11:43] Right? It was a landlord’s market. The development around the US and very much so in Atlanta of new office space was accelerating, lots of projects, and it was a very healthy market. Tenant incentives had been reducing. Large blocks of space were competitively being pursued by multiple tenants. In some cases, for one or two large blocks of space. So, very much a landlord’s market and very much a situation where tenant had to be not just thoughtful and advance with strategy, but ready to execute when they found the right property because properties and spaces were moving quickly.

Andy Roberts: [00:12:45] And the great analysis I’d add to that was, I think, February 1st and during this pre-COVID season, we’re seeing, unlike any time before, certainly for a number of decades, labor influencing commercial real estate more than ever in the sense that the focus was on the investments need to be made to maintain a workforce and recruit a desirable workforce because we were continuing to enjoy such a long economic bull run, and if that investment was made via real estate, so be it. And you had that as well on the construction costs. Labor was so tight that the cost of construction was one of the main drivers of an increasingly more expensive market; thus, a landlord market.

Brooks Morris: [00:13:45] I’ll give one statistic. Piedmont Center in Buckhead is a group of about 15 building. And in 2016, the rental rate on those buildings was about $18 a square foot. And fast forward to February 1st of 2020, those buildings are quoting, in some cases, just over $30 dollars per square foot.

Mike Blake: [00:14:12] Wow. And I know that space too, and the space as as far as it goes. But also, I’ve never been lost in any parking lot or complex more frequently than I’ve been lost in that complex. I mean, I’ve probably inadvertently parked about three quarters of a mile away from where my meeting is supposed to be. And-.

Brooks Morris: [00:14:35] You are not alone.

Mike Blake: [00:14:37] Yeah. I’m glad to hear that because I feel like a horse’s ass, but that’s meaningful when it’s an August Atlanta day, and you’re wearing a suit and tie, and then you show to the meeting. I basically look like LeBron James at the foul line with fourth quarter of a game, just sweat pouring down my face. But even, if they’re able to raise rents that much that quickly, that shows you a pretty hot market for sure.

Mike Blake: [00:15:17] And now the commercial real estate market, I guess, sort of the question is, is there a commercial real estate market? Have you guys pretty much frozen in place now? Is there anything going on right now? What is the market or the industry look like today?

Andy Roberts: [00:15:41] To be perfectly candid, I think we’re still in the fog of war, if you will. I think there’s going to be some clarity that obviously comes with time. But just the initial impression is — I mean, just from personally, clients and deals that were already in motion that were pretty close to getting done, those have continued to move forward. New deals and most of the clients that I’m personally working with, and it seems to be the case for a number of colleagues, are saying, “Hey, let’s just put this on pause.” So, that’s one dynamic.

Andy Roberts: [00:16:21] The second dynamic is you have, obviously, across the board, companies trying to figure out, holding on to every dollar cost cutting initiatives, reaching out to their landlord, saying, “Hey, what can we do? Can we abate rent for three months? Four months?” At the same time, you have those very same landlords having the same conversation with their lenders. And it’s all across the board. I mean, candidly, very large household institutions, there’s been one that everyone would recognize that has come out and said, “Hey, three months abated. No questions asked. We want to work with you,” to another household, prominent lender that has just said, “We’re not budging. We’re not giving any grace, any mercy, period.” And so, obviously, those landlords are in a tight spot. They’ve got to turn around. They don’t want to say the same thing to their tenants, but they don’t know if they can afford not to. And so, it’s really interesting. You don’t have a consensus other than those conversations are being had, a lot of probably wait and see, but it’s really interesting because the responses are all over the map.

Brooks Morris: [00:17:40] Yeah. I say, to Andy’s point, Andy said it very well, There’s three buckets. There’s the bucket of industries. We all know retail, some transportation, hospitality, event companies that are just getting clobbered. And you’ve got the middle bucket of a lot of professional services firms and some other industries that are feeling it, but there’s a cut in revenue, but they’re doing okay. They’re just having to be diligent about making some cuts here and there within their business. And then, there’s another bucket. And a lot of this falls into the industrial space category of businesses that are actually doing as well or better.

Brooks Morris: [00:18:25] And so, depending upon who you’re working with is going to drive what you need to do in the real estate market right now for those different groups. And to Andy’s point, a lot of what I was already working on that was close to being done, if there’s any sort of certainty in their business and an expiration coming off of their lease, we are moving forward and taking action. Anything that was an expansion, because everybody has gone remote for this period of time, most of those projects have been put on pause, and it’s a wait and see. And as soon as we have more clarity, then we’ll decide on what to do moving forward.

Mike Blake: [00:19:07] It occurs to me that there’s a signaling dynamic going on here, a signaling process. When a bank or a landlord tells their borrower or their tenants respectively what they’re prepared to do in terms of flexibility, and forgiveness, and forbearance I think tells you a lot about how they think this movie ends, right? I think that if they take a soft line, they’re telling you that this movie doesn’t necessarily have a very happy ending. It may be okay, but what they’re really telling you is that we want to keep you in place. We don’t think there’s necessarily another awesome bar or another awesome tenant that’s walking around the corner. So, we’re going to go with the devil we know. We’re gonna hang on to what we have and ride it out. And if we take a haircut, we take a haircut. But we’d rather get 80 cents on the dollar than zero.

Mike Blake: [00:20:12] Whereas, I think the hard liners are basically saying, you know what, at some point, whether it’s Memorial Day, whether it’s 4th of July, Labor Day, gotta help us on that one. But there’s going to be a reboot, basically, and somebody pushes a big red button somewhere that throws a lever that’s supposed to restart the economy. And they think there’s a basically a rubber band effect, that everything’s going to go back to normal. And if you default, and if you have to default, then we’re happy to take your property because we think they’ll be a ready market, or we’re happy to declare you in default because we think that there going to be six tenants waiting around the corner. I think that’s an interesting signaling effect that economists and economics geeks like me want to maybe look at to understand what the market sentiment is going forward.

Andy Roberts: [00:21:11] That’s a great point, Bill.

Brooks Morris: [00:21:13] Yeah, it’s a great point. I think—go ahead.

Mike Blake: [00:21:16] No. You said it was a great point. I want to hear more about my great point.

Brooks Morris: [00:21:20] Well, the signal, you’re correct. It does send a signal. But, also, anytime there is change that happens or there’s challenge in a challenging environment we’re all navigating through, sometimes, it also sends the signal on with the philosophical approach of a business owner or ownership group. And sometimes, that has nothing to do with the economy moving forward and their feelings on that but just how they approach business. And are they looking at a tenant as a long-term partner and somebody that they want to share success with, or are they looking at it in a transactional way? And we’re learning right now who are the partners and who are transactional.

Mike Blake: [00:22:10] Yeah, I think that’s a great point. And you really do find out who your friends are in crisis. And maybe there’s a psychological element to it as well. I think this whole coronavirus crisis scenario in which we find ourselves has put us into a collective state of grief. And the first stage is denial. And just as I think there have been many people who’ve been in denial that I think that number is rapidly diminishing, but you can see they’re the ones going out to spring break, and they’re still getting together in large groups, and I guess coughing on each other just to see what’ll happen. But there’s probably some of that. There’s probably some of that psychology in the business market too where it’s a scenario that can go so sideways and so horrifically that I think some people and businesses psychologically just go to a place of denial because they’re just not emotionally ready to embrace the potential reality.

Brooks Morris: [00:23:24] Agreed.

Andy Roberts: [00:23:25] To your point, Michael, on an economic point, I think Brooks did it really well and made some great points. And I think what’s so unique about this scenario is it’s going to be interesting to see how the legislation plays out because historically, when it comes to real estate as a broad brush, legislation is first seen in the residential arena for. And I think probably because politicians score more points that way. For example, a number of states have already come out and said, “Hey, there can be no foreclosures on any residential homes for X number of weeks or months.”

Andy Roberts: [00:24:11] The commercial real estate arena, the legislation, if it happens, happens much further down the road. It’s going to be interesting to see if that legislation does take place in a commercial arena. So, for example,if you have tenants defaulting, to what degree can the landlords—what retribution do they have. And if they’re prevented legislatively from doing so, and I think what may drive that in this arena is, historically, defaults have been from financial reasons. So, for example, ’08-’09, there was too much debt involved and irresponsible underwriting of the debt. No one in who’s alive today has seen this type of scenario where the driver is a medical health dynamic where sadly, tragically, a thousand Americans are dying a day.

Andy Roberts: [00:25:12] And so, there’s this kind of this social element overlying this that I think is so unique where it’s not your typical debt problem. It’s just kind of a war with an invisible enemy that it’s almost like for someone to come out and foreclose, there’s kind of the level of evilness to it that I think there’s this social pervasiveness that’s unprecedented. And it’s going to be really interesting to see how it plays out. I think that could drive greater legislation in the commercial arena. For example, not allowing landlords to penalize a tenant for defaulting. Well, time will tell, but that’ll be interesting ’cause usually that legislation stops in the residential arena.

Mike Blake: [00:26:04] So, a lot of offices are empty. Ours is largely empty, although a few people are coming in, but a fraction, most of us are are working from home. If you’ve got an office that is basically empty, empty assets are scary.I remember when I was a kid, and this probably explains a lot about me, when there is an abandoned house or a house in our neighborhood that had construction that was paused for a while, we would go into that house, and we would find pieces of wood, and hack them at each other. And we’d find pieces of copper tubing and whack each other with them, basically. And it’s illustrative of what can happen if you have real estate that is not sort of being looked after. And if I’ve got an office that is now basically empty, is there something that I need to be doing as a tenant to be looking after my real estate or my space even though I don’t own it, it’s still important. It’s still an asset. Is there something I need to be doing to look after it or take care of it during this down period?

Brooks Morris: [00:27:21] It depends on the position of the real estate. So, if you’re an owner, you’re going to be looking at this differently. If you’re a tenant of a full-service office, you’re really not going to need to do anything per se because the landlord, through the full-service structure of the building or the lease contract, is gonna be responsible for everything. And I would say if there’s anything that is that you’re responsible for be within those four walls, maybe it phones, internet that you probably have already moved to remote and cloud. There may be some opportunities to make sure that your expense is being allocated appropriately.

Brooks Morris: [00:28:18] If you’re in an industrial user, and you’re on a triple net lease, and you are leasing a building that you’re the only tenant in, there lies some opportunity and operating expenses that you’re responsible for as a tenant that you can take a look at and, say, go dark in a building, basically turn certain things off so you’re not paying for them while you’re not using them. Those would be the only things that you would be really looking at doing while you’re not using their real estate, and it really pertains to industrial spaces. But those particular businesses right now, most of them are in business and, in some cases, thriving.

Mike Blake: [00:29:00] Yeah.

Andy Roberts: [00:29:00] Brooks makes a great point. I think it would be interesting or it’s worthy to note, let’s say, for example, an office building, a classy office building, there’s multiple tenants – and Brooks is right – it’s on the landlord’s onus to run that building. And so, I think every tenant in their lease is going to have typically passthrough of operating expenses and the increase in operating expenses they’re going to be responsible for paying in the next calendar year. And so I do think it’s responsible for tenants currently being communication with their landlord on what are they doing to mitigate expenses while the buildings are vacant, so the tenants can be able to enjoy those savings.

Andy Roberts: [00:29:47] And then, also, keep in touch on what are the potential increase expenses that are around the corner. So, likely there’s going to be new janitorial dynamics. There’s also, likely, when America gets back to work, if you will, you’re hearing a lot of sentiment towards kind of not everyone just goes back on Monday. It’s kind of you’re phasing in and almost to the point where you have longer hours, certain departments working in the morning, certain departments working in the evening. And you have kind of maybe an overlap of one or two just to help respect social distancing as we start phasing back in.

Andy Roberts: [00:30:30] So, then you get into an office building, the HVAC act, for example. I mean, you know, hopefully this is happening late spring and summer. Well, HVAC expenses are at their highest at that point. And typically, a building will say, “Okay, we’re going to be running back from, say, 8:00 to 6:00.” Well, now, if you’re running it from 7:00 to 8:00 or 9:00 at night, you’re going to have higher expenses. So, tenants need to be aware of how are those expenses gonna be passed on to them, and what’s going to be their cap that they have in their lease on what the expense increase will be next year. So, I do think there’s currently some planning that can take place on the tenants’ behalf that’ll serve that well.

Mike Blake: [00:31:14] Let me jump on that.

Brooks Morris: [00:31:14] Mike.

Mike Blake: [00:31:15]  Go ahead.

Brooks Morris: [00:31:16] Mike, one thing I just thought of, I should have already mentioned as it pertains to your question and what you can do while you’re not in your space right now, as it pertains to any metropolitan building that charges for parking, in most cases, right now, because you’re not using that parking, you can negotiate with your landlord to not pay for that parking potentially. We’ve done that within ours. So, that’s something, for sure, to look at.

Mike Blake: [00:31:43] Okay. Yeah, that’s good advice. That’s an actionable thing people can, if they haven’t done already, they can do right away. So, we touched upon this a little bit, but I want to make sure to address this explicitly. There’s a provision in the CARES Act, and as you mentioned, several states as well that are basically freezing home real estate obligations, but that’s not really impacting the commercial sector, right? Unless you’ve negotiated something, if you’re a business tenant, you still have to pay your rent, right?

Brooks Morris: [00:32:18] Correct.

Andy Roberts: [00:32:20] Correct. What is interesting is a number of landlords, when tenants have requested to defer rent for a number of, say, three months to please the common average, a number of landlords are saying, “Hey, noted your request. Let’s pursue these avenues with the CARES Act and let’s circle back end of April. Then, say, mid-May.” And understandably so, they’d like to see these tenants be able to receive the provisions through the CARES Act, so that, obviously, the landlords don’t have to further rent, which is understandable. But that to your point, that’s a common conversation taking place in the industry.

Mike Blake: [00:33:02] So, the unfortunate reality is that not every business is going to come back from this, but the lease obligation may still remain. So, if in fact your business is not going to survive this, but the only thing that may survive is your lease obligation, what are your options to try to get out from under or mitigate that obligation?

Brooks Morris: [00:33:34] Well, the first thing you want to do is pull out your lease, get with your commercial real estate advisor, whether that’s us or someone else, and your attorney, and make sure you understand every single component of that lease and what your options are pertaining to that contract. Usually, there’s going to be a sublease provision that allows you to sublease as an option. So, you want to understand what that looks like and what that exit might realistically look like. In some cases, some companies have negotiated termination options. So, that could be that could be an option. There could be an option to restructure your lease. Maybe there’s an option to downsize and use certain-.

Brooks Morris: [00:34:22] And communication is key here. You want to engage with your landlord after you understand what your options are. You want to know what the landlord’s position is because they may have different things happening within their building with their existing tenants. And as business comes back, depending upon how well that building’s doing, they may want that space back or need that space depending on the size. And that’s a low percentage opportunity, but it’s one that should be explored. Andy, any other thoughts that I’m missing?

Andy Roberts: [00:34:53] No, those are all great points. You’re nailing it. And, certainly, typically, a lease will spell out a termination, if you have a termination clause and/or if it’s essentially what those costs would be. I think for a tenant to be fully aware what the landlord’s costs to structure this lease, and largely the build out, what have you, to understand how the landlord is going to be viewing this financially will be advantageous for a tenant. It may be you’re having to come out of pocket for a termination agreement or clause, but just knowing eyes wide up on what that number will be, will be helpful.

Brooks Morris: [00:35:37] And my advice, the biggest thing is just to be proactive, not wait around to get with your advisors, to build a strategy quickly that you can execute quickly if that’s the direction things are going because there will be other subleases coming to the market and you want to be in front of it.

Mike Blake: [00:35:56] We’re talking with Andy Roberts and Brooks Morris of Cresa about managing your real estate obligations and assets in a pandemic world. I want to interject here. I’ve interrupted them a couple of times inadvertently, and I apologize for that. One of the challenges of doing this remotely and not in the studios, you don’t normally have the visual cues where I can tell accurately if people are done talking or not. So, I’m not on speed or anything like that. This is sort of me learning about how to conduct interviews, also, in a coronavirus world.

Mike Blake: [00:36:35] But getting back to this, I want to touch now then on something that you said because I want to drill down a little bit. And that is the reaction or the posture of the landlord does vary from landlord to landlord. And that may be driven, ultimately, by how their bank is treating this. But generally, are you finding more often than not that landlords do want to work with their tenants in some way to accommodate them? Or do you find that, still, right now, they’re more likely to take a hard line? Or is it, in fact, 50/50 as far as you’re seeing?

Andy Roberts: [00:37:15] Yeah, future-.

Brooks Morris: [00:37:16] I don’t want-.

Andy Roberts: [00:37:16] Go ahead. Go ahead, Brooks.

Brooks Morris: [00:37:18] I wouldn’t say it’s 50. It’s hard to say right now because I would say the majority are taking the approach that we want to help. There is a percentage, which is a smaller percentage, that’s basically saying yes, and taking action immediately, and saying we will help, get us this information, and we’re gonna go ahead and accommodate your requests. The larger percentage is we want to help, but we can’t. We want to make sure you really need the help. So, these are the things we need to see from you and let us process this. And I say there’s another there’s a small percentage that are taking the hard line. So, I think the lion’s share wants to help. It’s just they are taking a very thoughtful approach on what requirements need to be met in order for them to actually execute on giving that help.

Andy Roberts: [00:38:15] Yeah, I think Brooks is absolutely right. I think your question, Michael, the answer is yes, and that landlords genuinely want to help. I’m yet to encounter any landlord that’s kind of this evil villain laughing that they don’t want to help. I think, from their perspective, to be to be empathetic to their world, they’re internally discussing, okay, we have this tenant that’s been a great tenant. They’re asking for a rent deferment. We generally want to help them. And so, then, (A), what are our lenders willing to do? And (B), depending on how they’re structured financially, it’s commonly a question of, okay, well, what will the implications be to our investors?

Andy Roberts: [00:39:03] And so, a lot of times they’re kind of stuck between a rock and a hard place. You don’t want to have a very difficult conversation with either. And I think the answer in this unique health pandemic is everyone to be transparent as best you can. And I think the reality is both sides are going to have to essentially kind of receive a burden, part of the cost for us as a society to get this behind us and move on. And I think there’s a sentiment of goodwill that’ll carry that to some degree. And yet, whether it’s the investors carrying a bit of a cost, I mean, it’s not like a landlord’s quick to say no. If they do say no to a tenant because they they don’t want to say no to a new investor. For example, they don’t want to tell them that, hey, with this unprecedented economy, your dividends about to go down, and you primarily invest in our fund because of the dividend dynamic.

Andy Roberts: [00:40:06] So, they are in a tough position. And yet I think both sides, to get through this efficiently, are just gonna have to recognize and transparently have the conversation. There’s a cost to care and agree we can kind of split that amiably and move forward.

Brooks Morris: [00:40:22] And in an effort to give a tenant, who may be listening, or business owner and executive who may be listening to this, an actionable item or set expectations, to Andy’s point, these landlords either have a lender to pay themselves, and they’re not getting forgiveness for this at this point in time, or they have investors they’re paying. And so, the tenant needs to understand, they’re asking for help. And so, in order for that to work, it’s got to work for both parties. And if the landlord’s gonna help, and you really need it, there are ways in which you can structure that help where the landlord can get something maybe towards the end of the lease that’s beneficial to them, but it allows the tenant to receive relief today. So, the tenant needs to understand what they have to offer that would benefit the landlord, which makes the landlord still a lot better about giving them the relief.

Andy Roberts: [00:41:25] Yeah, Brooks makes a great point. And we’re typically seeing that take place one of two ways. One being, hey, defer three months of rent now, and you can add it on the end of the term that I’m obligated to, lease-wise, or three months of deferment now, and then that delta that you deferred amortizing that over the remaining term. Those are typically one of the two paths that we’re seeing landlords are open to having.

Mike Blake: [00:41:53] So, let’s look at another scenario, a somewhat happier scenario. Maybe when you return to work, there’s going to be a company to which to return to work, but maybe you decide that your office needs are going to be different. You decide for us, for example, in our Alpharetta office, we’ve seen a marked increase in productivity with remote working vs. being in the office. I don’t know if we’re exceptional or not, right? But other firms may decide that, for whatever reason, they kind of like this remote working kind of scenario, but they’re going to keep their office, they may have or there may be other reasons to keep it. What are other options to generate value from their leased space if they’re not necessarily going to have a full office of employees anymore, but they still want to get value out of the space that they’re already paying for it and have invested in? How much do you redeploy that space to be value added?

Brooks Morris: [00:43:06] I think it’s case by case, Mike. I mean, it really depends upon what type of business is it. Do they have clients that come into that space? Do they not have clients come into that space? Their business is gonna dictate how they can best redeploy that space. Before I get into that a little bit, I would say that it is going to be a very interesting time moving forward. I think what’s happening with this forced remote work situation is it’s really heightening the awareness of the types of jobs that are okay to do remote and the types of jobs that are not okay to do remote or shouldn’t be remote. And so, I think you’re going to see that sort of become a big topic before you understand how are you going to redeploy your space.

Brooks Morris: [00:44:13] I can also see the conversation’s accelerating around, well, if this is a job that needs to be in the office, we maybe would be okay with four days a week in the office and one day remote, and creating some more flexibility around, what does it look like? What does a work week look like for different types of positions? So, I think that’s the first thing that companies are going to need to get their hands around because you have to understand that first before you start the space program around how to use that space.

Brooks Morris: [00:44:49] But then, if you get into redeploying space and once you understand those things, you’re going to start looking at, okay, so what are the areas of our office space that could be used for hoteling and not having a desk specifically for a person or an office specifically for a person? But it starts to be shared, which is something that’s been happening. I could see that accelerating a bit, but I could also see where we’re realizing how much we like to be around people. We love connectivity. Energy is created from when you’re around people. Ideas come from serendipity that happens in water cooler discussions.

Brooks Morris: [00:45:32] And Starbucks wouldn’t have been doing so well with people that worked remote if they just stayed at home or worked by themselves. Starbucks is full of people that are remote workers because they like to be around other people. So, I think you can see office space being redeployed that replicates, to a degree, restaurant in coffee shop environments that draw their people in to that environment to work and have the energy of being around people.

Mike Blake: [00:46:02] That’s really-

Andy Roberts: [00:46:06] Yeah, I completely agree.

Mike Blake: [00:46:06] Sorry, go ahead.

Andy Roberts: [00:46:07] Well, I think Brooks makes a lot of great points. And this will continue to affirm and accelerate a trend we’ve already been witnessing in the sense that office setting and a work setting transitioning from an industrial economy to an idea-driven economy. I mean, even 10 years ago, even 5 years ago, teh degree is still pre-COVID, the degree to which the number of businesses still kind of operated with this mentality of, “Well, this is my desk. It’s just where I go stress it.” I mean, that that really kind of originated out of an industrial revolution mindset, which was you had to be there for the specific function. And yet, as we’ve obviously moved to an idea-driven economy, that no longer makes sense.

Andy Roberts: [00:47:03] And so, it doesn’t mean, obviously, it would go away with office space, what have you. It just looks dramatically different. The same sense, an idea-driven economy looks different from an industrial-driven economy. The office space will reflect it. And I think some of the things we do certainly know is, one, flexibility will continue to rise. And two, I do think you’ve had some of this degree in some place, but think about, for example, the health care industry and the financial services industry, if you’re in either of those, a main theme is going to be working with your attorney to really get buttoned up on remote security in the sense of FCC regulations and HIPAA regulations. And you’ve had a lot of that discussion from within your office, and to some degree some laptop protocol, what have you. But knowing that a flexible, remote workforce that’s not going away, some of this is going to be certainly higher post-COVID than was pre, that’s just going to continue to put more focus on what does that look like on those specific industries that are highly regulated.

Mike Blake: [00:48:13] You touched upon something I want to jump on just a little bit; although we’re running out of time, unfortunately, but it bears discussion. And that is that the bulk of what I see being written right now is that we’re never going back to the old way of doing things. People are going to work remotely a lot more. And I’m not entirely sure that’s true. I mean, I’ve been working from home for the bulk of the last 10 years or so. But I think I’m a little bit of an outlier. I’ve joked before, my wife’s biggest fear about me is not that I’m going to cheat on her but that I’m going to try to get accepted into the Mars mission as long as they start accepting overweight, middle-aged man because I’m going to jump at the opportunity isolated for 24 months. But for somebody like she who is an extrovert, it’s really tough.

Mike Blake: [00:49:12] And I think there is going to be a a demand, a pent-up demand for that socialization. And Brooks, that idea of sort of having a virtual coffee shop within the office, I actually took a note. Maybe that,  in some way, will actually redeploy our space. Can we replicate the Starbucks kind of environment if people just sort of need to change the environment to feel more productive, more creative, more free? I think it’s going to unleash some creativity in terms of how better to use space to promote that socialization.

Brooks Morris: [00:49:51] Yeah, Mike. And it was already happening. So, in the technology industry, anybody that’s been competing for developers, these companies have had to find creative ways already to attract not only through pay but just through culture and what is the office space? Is it a fun office space to come to? And I’m not talking about ping pong tables but this coffee shop/restaurant idea and having diner booth in the break room, great views with bars looking out over the city where you can sit and work, this has been happening. And I see this accelerating for that reason. And it’s really what employees have shown that they want.

Brooks Morris: [00:49:51] I’ll say I know we’re running out of time here, but I was talking to John Ray a little bit about this before the call, but I’ve got a quote from Steve Jobs because I was reading Walter Isaacson. I’m in the middle of his book on the biography of Steve Jobs. And we all know he’s not only a founder of the respected brand Apple but also Pixar. And he was avid about their office space and including at Pixar. And he is not only a denizen of the digital world, but he knew all too well the isolated potential of technology and he was a big believer of face-to-face meetings. And he said there’s a temptation in our networked age to think that an idea can be developed by email or iChat. He says that’s crazy. Creativity comes from spontaneous meetings and from random discussions. And I think there’s a lot of truth in that. I just think there’s a balance that has to be found between flexibility and how technology can allow us to be remote and flexible. But, also, when and how often should we be face-to-face and  what do those environments look like now moving forward?

Andy Roberts: [00:52:10] That’s a great point.

Mike Blake: [00:52:12] So, one last question I want to touch upon is the return-to-work scenario. I believe, and you can tell me if I’m wrong, of course, but I believe that how we—and you touched upon it actually, but how we work is going to change, and I think there’s going to be some negotiations between tenants and landlords, and how to accommodate that. For example, even professional services moved to shift work, basically, right? And is the climate control now going to be kept on and who pays for that? I think that one janitorial visit per day is not going to cut it, right? You’re going to need to sterilize the office, I think, multiple times a day. I’m certainly advocating that for our firm. And other kind of logistical issues. Employee access, do you have to put toilet paper in safe, which sounds absurd, but it’s not, right? Is  it worth thinking now about what the return-to-work scenario looks like? And are these things that you ought to be talking to your landlord about now about what that looks like, so you can agree in terms of, basically, who’s responsible for what and how?

Brooks Morris: [00:53:42] Yeah, I think before-

Andy Roberts: [00:53:42] Absolutely.

Brooks Morris: [00:53:42] Yeah. Before you have that conversation with your landlord, with your advisors and your executive team, and asking questions among all your employees, you want to understand what is your need at the company first. What your plan to address this? Because you don’t want to go get out in front of this with the landlord before you know what you’re really asking for and why because you wanted to support your long-term business needs and short-term with addressing and making sure that you’re getting the janitorial services that you need.

Brooks Morris: [00:54:18] Once you establish what the need is, then you go engage in a proactive conversation with your landlord to address those things. But I think, depending upon how long this lasts, there is an opportunity to be in a better position as a tenant with more leverage in the cycle that we may be entering into. So, this could be an opportunity for tenants to, eventually, not right away, certainly if you have a lease expiration coming up, to restructure leases. Well, there’s gonna be a lot more subleases on the market, which is going to be competitive with the direct lease options for landlords. So, I think that there’s going to be an opportunity to push some of the responsibility for additional expenses onto the landlord and have more incentives that the landlords are offering.

Andy Roberts: [00:55:19] Those are great points. And I think one noteworthy point to consider for those working primarily in an office setting who are leading a company, it’s very possible that landlords, for a season of time as we start to get back, may have kind of revised density requirements that the tenants are going to want to be aware of. And again, it’s not that landlords are looking to be difficult. We just don’t know what conversations they’re having with lenders. And primarily, that’s probably their insurance brokers in the sense of to mitigate any outbreak, it’s very possible you don’t want to kind of have an internal planning session come up with a plan and then find out it’s not compatible with what the landlord will allow. I don’t think it’s gonna last forever, but I could very well see a scenario where, hey, the ban is lifted and set in for the next 30 days, or 45, or 60 days. There’s kind of a revised density issue that landlords are asking/mandating their tenants adhere to.

Brooks Morris: [00:56:24] Yeah, I think Andy brings up a great point. Historically, square footage of use per person has been 300 square feet or higher. And over the last several years, that’s gotten down sub-200. So, you could see where there’s not as many people that need to be in the office, but they still need almost as many square feet because it’s been mandated that it’s not allowed to be that dense anymore, and you have to have more square feet per person. I could see that potentially happening.

Mike Blake: [00:57:01] Yes, certainly places like California, New York, you may very well see them. I hadn’t thought of that. I think it’s a great observation. Guys, this has been great. We’re already over time, and I want to be as I try to be uber respectful of your time. If people have other questions that we weren’t able to cover today, how can people contact you?

Andy Roberts: [00:57:23] Sure. Obviously, if you go online and Google Cresa, this is Andy Roberts and Brooks Morris. We’re both in the Atlanta office. Obviously, our website is a great resource to learn about our firm. And then, you can specifically visit the Atlanta link, as well as Brooks has a personalized bio page. I, myself, have  a personalized bio page on LinkedIn. Please feel free. We’ve got a lot of great thought leadership resources on our website. That’s probably the easiest direct place to go to. Again, www.cresa.com. And happy to be a resource specifically and/or just kind of general questions. We’re always looking to receive feedback from the frontlines, if you will. So, welcome those conversations.

Mike Blake: [00:58:17] Well, that’s going to wrap it up for today’s program. I’d like to thank Brooks Morris and Andy Roberts of Cresa so much for joining us and sharing their expertise with us. We’ll be exploring a new topic each week. So, please tune in, so that when you’re facing your next executive decision, you have clear vision when making it. If you enjoy this podcast. please consider leaving a review with your favorite podcast aggregator. That helps people find us, so that we can help them. Once again, this is Mike Blake. Our sponsor is Brady Ware & Company. And this has been the Decision Vision Podcast.

Tagged With: Andy Roberts, Brady Ware, Brady Ware & Company, Brooks Morris, commercial real estate, corporate office tenant representation, CRESA, Cresa Atlanta, Michael Blake, Mike Blake, office space, office space rental, tenant representation

Ford Stokes and Brandy Seats, Active Wealth Management; Morgan Reynolds, Colliers International

April 15, 2020 by John Ray

North Fulton Business Radio
North Fulton Business Radio
Ford Stokes and Brandy Seats, Active Wealth Management; Morgan Reynolds, Colliers International
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Clockwise, from upper left: Ford Stokes, Brandy Seats, and Morgan Reynolds

“North Fulton Business Radio,” Episode 218: Ford Stokes and Brandy Seats, Active Wealth Management and Morgan Reynolds, Colliers International

Investing for future college tuition payments, 401-Ks, commercial real estate, and COVID-19 impacts were just a few of the topics discussed in this insight-rich show, as Ford Stokes and Brandy Seats, Active Wealth Management and Morgan Reynolds, Colliers International, were our guests. The host of “North Fulton Business Radio” is John Ray and the show is produced virtually from the North Fulton studio of Business RadioX® in Alpharetta.

Ford Stokes, Founder and President, Active Wealth Management

Active Wealth Management
Ford Stokes, Active Wealth Management

Prior to founding Active Wealth Management, Ford Stokes exponentially grew over a dozen companies as a Chief Marketing Officer, he’s passionate about growing our client’s wealth and has over ten years experience in the financial industry. Ford also helped successfully grow a $3 Billion Registered Investment Adviser (RIA) and a $2 Billion Independent Marketing Organization (IMO) from start-up phase to mature and significant profitability as a minority owner in both companies.

He holds an undergraduate business degree and an MBA with a dual concentration in Finance and Economics. He’s published articles on FoxBusiness.com and hosts The Active Wealth Radio Show on WGKA 920 AM on Saturdays 12:00-1:00 PM in Atlanta. He educates clients to help them invest and retire successfully.

Ford is a native Atlantan who plays ALTA Tennis, Golf and cheers on his hometown Braves, Falcons, Hawks and Atlanta United with his family. Ford and his wife, Diana, have a great time supporting their twin girls at their cheer competitions throughout the Southeast.

Find out more at the Active Wealth Management website. You can reach Ford by phone at  770- 685-1777 or email.

Brandy Seats, Sr. Vice President, Active Wealth Management

Active Wealth Management
Brandy Seats, Active Wealth Management

As Senior Vice President with Active Wealth, Brandy Seats provides a wide range of retirement planning services to clients, including complex life insurance case design as an investment vehicle.

Prior to joining Active Wealth, Seats was the Founder and President of Avalon Financial. In late 2019, Active Wealth acquired Avalon Financial, placing Seats in her current role. Before entering the financial industry, Seats worked in the healthcare industry for more than a decade working as Director of Sales and Marketing for several multi-billion-dollar clients.

Seats’ diverse work experiences allow her to take a unique, holistic approach when helping her clients’ plan for the future. Brandy holds a Series 65 Securities License and a Life and Heath License with the State of Georgia. In addition, Seats is passionate about her clients’ financial education and works to share the impact that smart money planning can have on their finances.

In her spare time, Seats enjoys volunteering and running her 501(C)(3) RAOK, Inc. (Random Acts of Kindness). RAOK brings value to the Atlanta community through projects like animal advocacy and financial literacy education.

Find out more at the Active Wealth Management website. You can reach Brandy by email or call 770- 685-1777..

Morgan Reynolds, Office Tenant Rep Broker, Colliers International

Morgan Reynolds, Colliers International

Colliers International is a leading global real estate services and investment management company. With operations in 68 countries, our more than 15,000 enterprising people work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors.

Morgan Reynolds is an Associate with Colliers International Office Services Group, specializing in tenant representation. She joins a team of four partners with a combined total of 100+ years of industry experience. Building upon the strength of her intense work ethic as a former student-athlete, Morgan takes a holistic approach to delivering real estate solutions that align with her clients’ business objectives.

She draws on her team’s experience, world class research of Colliers International, and market expertise to deliver winning outcomes for clients ranging from Fortune 500 companies to growth stage startups.

To get in touch with Morgan, you can email her directly or call her at 770-231-4503.

 

North Fulton Business Radio” is produced virtually from the North Fulton studio of Business RadioX® 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, iHeart Radio, Stitcher, TuneIn, and others.

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.

 

Tagged With: 401-K, Active Wealth Management, Brandy Seats, Colliers International, commercial real estate, corporate office tenant representation, Ford Stokes, investments, John Ray, Morgan Reynolds, North Fulton Business Radio, tenant representation

Inspiring Women, Episode 20: Becoming The Authentic Leader You Envision

April 15, 2020 by John Ray

Inspiring Women with Betty Collins album cover
Inspiring Women PodCast with Betty Collins
Inspiring Women, Episode 20: Becoming The Authentic Leader You Envision
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Inspiring Women, Episode 20: Becoming The Authentic Leader You Envision

There’s almost a crying desire for leadership in our society which is genuine. In this episode of “Inspiring Women,” host Betty Collins discusses the characteristics of authentic leadership. “Inspiring Women” is presented by Brady Ware & Company.

Betty’s Show Notes

It’s everywhere; books, coaches, seminars on the why, the what, the who, and the how.

It’s really, in my mind, almost overkill. But the sad truth is, with all of that help, we are desperately looking for leadership that is authentic.

In our society, in politics, to corporate America, to education systems, within our homes, within professional organizations, authentic leadership is really tough to find.

Authentic leadership works on the principle that leaders can prove their legitimacy, their credibility, by nurturing sincere relationships with whomever they’re leading. Notice I did not say “I am the leader, follow me!” It isn’t about the title. It really is nurturing sincere relationships.

How do you do that?

An authentic leader encourages their followers to be more open. They appreciate their support in the success of the organization. When you want to be an authentic leader, it’s pretty tough. It’s a pretty high standard, and it takes a while to do.

This is something you have to be pretty intentional about. If you are a true authentic leader, you’ll have certain characteristics. You probably can’t have all 10 that I’ve come up with, but you’ve got to have some of these, or you’ve got to be working on them.

  • Self-awareness
  • Integrity
  • Vision
  • Focus On Long-term Results
  • Listening Skills
  • Speaking Carefully
  • Transparency
  • Consistency
  • Drawing On Experience
  • Sharing Success With Your Team

Betty Collins, CPA, Brady Ware & Company and Host of the “Inspiring Women” Podcast

Betty Collins, Brady Ware & Company

Betty Collins is the Office Lead for Brady Ware’s Columbus office and a Shareholder in the firm. Betty joined Brady Ware & Company in 2012 through a merger with Nipps, Brown, Collins & Associates. She started her career in public accounting in 1988. Betty is co-leader of the Long Term Care service team, which helps providers of services to Individuals with Intellectual and Developmental Disabilities and nursing centers establish effective operational models that also maximize available funding. She consults with other small businesses, helping them prosper with advice on general operations management, cash flow optimization, and tax minimization strategies.

In addition, Betty serves on the Board of Directors for Brady Ware and Company. She leads Brady Ware’s Women’s Initiative, a program designed to empower female employees, allowing them to tap into unique resources and unleash their full potential.  Betty helps her colleagues create a work/life balance while inspiring them to set and reach personal and professional goals. The Women’s Initiative promotes women-to-women business relationships for clients and holds an annual conference that supports women business owners, women leaders, and other women who want to succeed. Betty actively participates in women-oriented conferences through speaking engagements and board activity.

Betty is a member of the National Association of Women Business Owners (NAWBO) and she is the President-elect for the Columbus Chapter. Brady Ware also partners with the Women’s Small Business Accelerator (WSBA), an organization designed to help female business owners develop and implement a strong business strategy through education and mentorship, and Betty participates in their mentor match program. She is passionate about WSBA because she believes in their acceleration program and matching women with the right advisors to help them achieve their business ownership goals. Betty supports the WSBA and NAWBO because these organizations deliver resources that help other women-owned and managed businesses thrive.

Betty is a graduate of Mount Vernon Nazarene College, a member of the American Institute of Certified Public Accountants, and a member of the Ohio Society of Certified Public Accountants. Betty is also the Board Chairwoman for the Gahanna Area Chamber of Commerce, and she serves on the Board of the Community Improvement Corporation of Gahanna as Treasurer.

“Inspiring Women” Podcast Series

“Inspiring Women” is THE podcast that advances women toward economic, social and political achievement. The show is hosted by Betty Collins, CPA, and presented by Brady Ware and Company. Brady Ware is committed to empowering women to go their distance in the workplace and at home. Other episodes of “Inspiring Women” can be found here.

Show Transcript

[00:00:00] Becoming the authentic leader that you envision and making sure you can build that team … Authentic leaders, being an authentic leader, the 10 steps of all of it … It’s everywhere; books, coaches, seminars on the why, the what, the who, and the how. It’s really, in my mind, almost overkill, but the sad truth is, with all of that help, and with all of those things, and with all that can be thrown at you, we are desperately looking for leadership that is authentic, in all aspects. From our society, from politics, to corporate America, to education systems, within our homes, within professional organizations, authentic leadership is really tough to find.

[00:00:46]  Part of it is because it’s hard to be an authentic leader. Authentic leadership works on the principle that leaders can prove their legitimacy, their credibility, by nurturing sincere relationships with whoever they’re leading. Notice I did not say I am the leader, follow me! It isn’t about the title you finally got. “Get over it. Do as I say.” It really is nurturing sincere relationships. How do you do that?

[00:01:19]   The word authentic also is way overused everywhere, but an authentic leader encourages their followers to be more open. They appreciate their support in the success of the organization, so they really want to hear from them. It doesn’t just promote them as the leader, or it doesn’t just promote individuals. It’s a team performance.

[00:01:41]   When you want to be an authentic leader, it’s pretty tough. It’s a pretty high standard, and it takes a while to do. You’re not going to do that because you got your MBA, or something, or you’re just getting out of college, or even if you have years of experience. This is something you have to be pretty intentional about. If you are a true authentic leader, you’ll probably have certain characteristics. You probably can’t have all 10 that I’ve come up with, but you’ve got to have some of these, or you’ve got to be working on them.

[00:02:09]   Who is the person in your life, at your company, in your career, in your past, maybe in your local government? In the professional organization, when you’re thinking authentic leader, who comes to your mind immediately? And then, I have to ask this – do you think you are an authentic leader? But, probably, the real question is do others see you as that?

[00:02:34]   I want to talk about how do we get there, and what does it mean to be an authentic leader? These are just some basic ideas that I came across, and read about, and looked … I think I narrowed it down to 10 because I don’t know how you could do all 10 of these but let me go through them.

[00:02:50]   Self-awareness. An authentic leader reflects upon their actions and some of their decisions, and they examine; all along their career, they’re examining how they’re doing those things, so they can try to not be biased, and, again, being open. You lead with your heart. You focus on the long-term results, integrity. That could be an entire podcast. You’ve got to lead with vision. You’ve got to listen, and carefully speak. Of course, transparency and consistency. Those are some things that I think have to be there for you to get the title – authentic leader.

[00:03:30]   Let’s start with the first one – self-awareness. You’re reflecting on your actions, your decisions. You’re examining your own strengths and weaknesses. Then, you put a lot of effort to overcome the fears around … The people who fear maybe those things that are not going well, and you use your strengths to maximize. Self-awareness is not obsession with every aspect of your life so it’s all perfect, and it is not constantly analyzing yourself and then asking everyone’s opinion about it. Again, it’s really reflection; examination. I don’t know that you have to do it every day, but authentic leaders don’t really hide behind their flaws. They talk about them, and they acknowledge them. A lot of times they get people around them that can maybe fill in where they are not that way.

[00:04:24]   Being an authentic leader is hard work and it takes years of experience, and you’re going to fail. But everyone behaves inauthentically – is that a word? – at times, and they say things and do things they regret. So, the key is to have self-awareness; to recognize those times where you listen, and you listen to your colleagues, and wherever you’re leading as this authentic leader, who can point them out to you, and you can go, “Okay, I get that.”

[00:04:54]   If you’re going to be an authentic leader, you’ve got to lead with your heart. Probably not afraid to dig deep. Those people that can go, “Let’s just get to the core of it.” They lead their team with courage. There’s a lot of empathy, because if you’re going to really lead from the heart and listen, it takes empathy. I’m not always an empathetic person. It’s a skill that I really have to work on. Being all heart also doesn’t mean you just lead with your emotions, or you feel good, therefore, that must be coming from the heart; or you feel bad, and that’s really coming from the core.

[00:05:31]   Two situations. One, I had someone … We always had kind of a flex time in one of the companies that I worked with. One of those things was as long as you got your eight-hour day in, you were good. This was well before everybody now has flex time or works out of your house. We had somebody who really loved flex time, because they wanted to eat breakfast with their kids every morning and take them to school. The problem with his authentic leadership, though, was when it came 5:00, and he still had two more hours, he didn’t hesitate to go into someone’s office at 3:00, 4:00, or 5:00, and sit there and talk and even follow them to their car. He really wasn’t authentic. Liked it for himself. Didn’t let others do it.

[00:06:18]   I will say, of course, I’m either very egotistical, or very insecure, but I will say this with as much humbleness as I can … The success of the women’s initiative at Brady Ware, my CEO directly said this to me from the beginning; he said, “You are a leader for this because you wear the emotions on your sleeve. Your passion is there for everybody to see, and it comes out at the very core, and that’s why the Brady Ware women’s initiative is successful.” For me to have a legacy and to pass this on to someone, I’ve got to find someone with that same thing. You lead with the heart. We’ve had some success with that. It was a very nice compliment, for sure, and I’ve tried to use that in other areas, if I have that much passion. When I don’t have that kind of, where I can lead from the heart, I kind of question should I be doing this?

[00:07:14]   You’ve got to focus on long-term results, when you are an authentic leader. You don’t waste a whole lot of time worrying about maybe temporary setbacks or things that just didn’t go well. You cannot always have a stellar month. You cannot always have a stellar year. You’ve got to look long term. You know this is the right thing. It takes patience, and it takes hard work, but you can yield some rich results in the long run. So, looking forward by learning from the past generally results in good. But, again, everything can’t be stellar and huge all the time.

[00:07:50]   I hope you get the correlation; I’m going to try to describe this … I ran in a 5K only one time. It was time to get my health in order, and the book I was reading at the time said, “Find the exercise you like, and you exercise.” I said, okay, I’m going to run. I’m going to be a runner. I prepped for the 5K, somewhat, and I loved more buying the shoes, and the matching gear, and being part of the big day more. It was a community thing. At the end of the day, the race was kind of tough, but I kept my focus because I did know – when I was tired – it’s like everyone else is doing this. We can get there. There is a finish line. I met the goal. I was part of the community. It’s all really good. I finished about mid-pack, which I didn’t think was bad because I was in my 50s. I wasn’t in first place. It wasn’t this big result, but it was all part of my health plan.

[00:08:51]   So, instead of going, “Well, that didn’t work,” I just moved on to something that maybe did work. It led me to the next part of my physical health, which was really just getting a trainer. I lost, over four, or five months’ time, about 19 pounds, 13 inches. Now, those habits are really in place. I wasn’t about what I was going to look like, when I worked out at the gym with her, or whatever it was. So, I took that and learned from my past; didn’t get buried down in that one more thing didn’t work about weight. Instead, I said I’m going to look at this long term.

[00:09:25]   I prep now; I focus; I’m more patient. If I would have just said, “No more 5ks. I’m done,” I wouldn’t have the amazing results I have right now. I didn’t waste time focusing on what I didn’t accomplish in that race. Instead, I found another way to move forward and applied that somewhat to how I lead in business. It’s okay that something didn’t work. If it doesn’t, don’t keep doing it over. I wasn’t going to keep running races that I wasn’t prepared for, but I am going to, day by day, deal with my health. So, focus on the long-term results.

[00:09:58]   Integrity … Just not there today. I had a great book back in the day about President Ronald Reagan, “When Character was King,” and it was all about integrity. I would still vote for him today. That would be who I’d write in on the ballot. He was authentic to me. He wasn’t perfect, but integrity mattered to him. Of course, I’m a pretty conservative person, so, of course, I’m going to be drawn to him, but integrity was key. He just didn’t say things to say them. Generally, hat he said he meant. I kind of look that way with Barack Obama, as well. President Obama was a progressive left; he said that. He also said, “This is what I believe, and this is what I’m going to do.” There wasn’t any- What’s the word I want? There wasn’t any delusion about it. They both had different ways about their character, and integrity, because they were doing what they believed, and what they said, they meant. They were respected, yet two very, very different men.

[00:10:59]   Chances are, two people can say the same thing. The one who’s listened to probably has integrity and probably has some credibility, especially with the world we have today. If you really step back and go, “I want to understand more about integrity. I’ve got to figure that out, and character, that matters in my character …” you will be a leader, far past a lot of people.

[00:11:26]   You have to lead with vision. Authentic leaders lead with purpose and vision. Chances are, they’re going to add value to the people that they interact with, the team, and they’re going to help people also be part of the vision. They are not just the vision. That’s why I say- that’s only five, and I’m exhausted thinking about all the things I have to do to be the leader. We’ve got five more … We’ll finish up.

[00:11:50]   Listening skills and carefully speaking. What a mess we are in today with the ability to not listen and the ability to say whatever we think, and we call that freedom. Well, I look at it as a good leader … As we are making decisions right now about a next president, a good authentic leader is a good listener. Even when they don’t like your views, or you don’t like theirs, there’s listening involved.

[00:12:22]   Authentic leaders also monitor their words. They’re very careful to how they say things to the audience. Not because of political correctness, which has gone beyond, they do it because maybe they’re sensitive to the person who’s going to hear those; the impact, the actions. They’re not just messaging the right talking points. People can read right through that. Too much of today, and not just in politics, but our culture, in general, is we don’t listen, and we speak way too quickly. You want to be a better leader? People will gravitate to you, if you have listening skills and carefully speak. It’s definitely part of being that authentic leader.

[00:13:09]   Transparency … Authentic leaders obviously believe in open communication and combine their directness with empathy. I hope you heard that. They combine their directness with empathy. Transparency doesn’t mean, “Well, I told you, and I spilled my guts, and now everyone knows everything.” That might be transparency. It also might be maybe a little stupidity. “What you see is what you get” – that can be dangerous. “Well, this is just who I am!” Those things are not transparency.

[00:13:37]   We had somebody who, years ago, they were my client and always talked about his faith; always talked about transparency, and open, and honesty. Yet everyone knew he was having an affair with the administrative assistant. Everyone knew it. He didn’t know that everyone knew it … So, his transparency, no matter what, wasn’t there. It just wasn’t there. We really need it today. Transparency is about open communication; being direct with some empathy; and not just saying what you think needs to be said. People see who you are, most of the time, or they at least have some idea.

[00:14:18]   Consistency … Consistent people in your life. I want you to be thinking, who is that, and why do you go to that person on your team? It’s because they’re consistent, and you can count on them. Well, they need the same thing from you as a leader. They’re not probably going to be allured into things and allow things that just don’t … They’re not with the plan. They’re not with the steps. They’re not with what needs to happen. Consistency is a huge important thing. Sometimes, you need to divert; sometimes, you need to take another fork in the road. I get that, but, generally, in business and when you’re leading, and you want a team to follow, you can’t live in too much ‘let’s just shoot from the hip and go over here.’ You’ve got to stay with some things, and consistency is part of that.

[00:14:57]   Probably the hardest things for leaders, especially authentic, but this is one you could really just say, “I’m going to make an effort on this,” is sharing your success with your team. Everybody wants to take the credit for it. Really, when you build the team around you, and give credit, and you do it as a team, you have so much- so much more different results.

[00:15:17]   Drawing on experience … I’m 56, and I have a lot to say, and I probably have a lot of good stories to tell you. It doesn’t mean, because I tell them, and I learned the hard way, it makes me authentic. But stellar leadership will absolutely share their experiences and really have compassion that you don’t experience that. Or they might have compassion for you to experience it because you need to.

[00:15:39]   Rhett Ricart is a common name in Columbus. Of course, they have Ricart Ford, which is a- many years, it’s been number one in the country. It’s a huge, huge organization. He’s a great speaker, and he does a great presentation on his 13 mistakes. He takes that experience, and he throws it out there and says, “This is what I did.”

[00:16:02]   One of the ones I loved, he talked about ‘Don’t teach your employees to steal.’ I’m like, wow … He said, because, you know, if you were a Ricart, you could fill up your gas tank and get your tires changed, and no one ever paid for any of that. You just ate lunch on the … All the different things you do as an owner. Then, when your employees start doing that, you’re kind of mad, because you’re like, “What are you doing?” “Well, you guys do it. You’re employees here. Okay, you’re owners, but …” He just talked very, very openly about, “These are the things I didn’t do well, and I don’t want you to do that.” He’s very authentic about it. He doesn’t talk about he was perfect the whole way and that’s why they’re number one.

[00:16:40]   Authentic leadership – I’ll end with this. Your team deserves it. It’s next to impossible to do all 10 of these, but I would certainly look at the ones where you’re struggling in and make an effort to put some change there; to get your mindset differently and to really get some open, honest communication about it because your team deserves it. They need you to strive towards becoming the authentic leader. Then, one day, you’ll probably create authentic leaders around you. I’m Betty Collins. Thank you for listening today.

 

Tagged With: authentic leadership, Betty Collins, Brady Ware, Brady Ware & Company, compassion, Inspiring Women, Inspiring Women podcast, Inspiring Women with Betty Collins, integrity, lack of transparency, Leadership, listening, self-awareness, Transparency, vision

Deborah Schwartz Griffin, Creative Connector

April 14, 2020 by John Ray

Deborah Schwartz Griffin
North Fulton Business Radio
Deborah Schwartz Griffin, Creative Connector
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Deborah Schwartz Griffin, Creative Connector

“North Fulton Business Radio,” Episode 217 : Deborah Schwartz Griffin, Creative Connector

Deborah Schwartz Griffin loves to tell the stories of her clients and make connections which build their business. She joined “North Fulton Business Radio” to discuss the work she does as a “creative connector” and some of her success stories. The host of “North Fulton Business Radio” is John Ray and the show is produced virtually by the North Fulton studio of Business RadioX® in Alpharetta.

Deborah Schwartz Griffin, President and Founder, Creative Connector

Deborah Schwartz is a proven strategic business development and consultative sales leader with more than 25 years of experience generating revenue and fueling growth for companies and organizations. Known as The Creative Connector™, Deborah brings a wide range of skills to the table, including the ability to build trusted relationships and alliances, identify clients’ needs and develop quantifiable results.

Deborah engages with and serves clients as a consultant and coach through the business she founded in 2001, DSG & Associates LLC. Within each engagement, she works with the client organization as its vice president of strategic business development. In this role, she takes a holistic approach with clients — uncovering their pain points and priorities, as well as the impact those factors have on their business, and helping them develop a plan that drives business revenue and growth and generates a return on investment for all. With that approach, Deborah helps her clients continue to build and enhance their organization’s brand, and access a new network of strategic connections and alliances that furthers their strategic business goals and helps them reach the tipping point in their business success.

Her subject-matter expertise includes the following industries and business sectors: restaurants and franchises; foodservice equipment and supplies; hospitality; business advisory accounting, with a focus on finance and operations; trade associations; nonprofits; event production; print, graphic design and social media; and broadcast sales, television news and production.

Deborah’s list of client success stories includes helping a Savannah, Georgia-based print, graphic design and social media company, Creative Approach, open its second location in Atlanta. She created a business development, sales and marketing plan and executed it, along with a strategic networking process that significantly strengthened the company’s overall presence and generated new customers in the Atlanta market.

Working with the Women’s Foodservice Forum, Deborah retained existing partnerships and generated new and incremental business resulting in more than $100K in revenue during a five-month assignment. While helping an accounting advisory and solutions firm, Trusted CFO Solutions, she created and implemented a sales and marketing strategy and action plan that helped gain a prominent multi-unit restaurant client, which led to gaining more clients in the restaurant and hospitality sectors. In another capacity, she helped the largest dealer of foodservice equipment and supplies in the Southeast, Atlanta Fixture & Sales Company, increase its revenue by 20 percent.

During the six years that she worked with the Georgia Restaurant Association, Deborah started as an independent contractor to develop a strategy for growth and to recruit and retain restaurant, allied and corporate sponsor members. Soon after, she was hired full time and later promoted to vice president of membership and sponsorship sales, where she led business development and sales efforts with her team that doubled revenue during her tenure and grew membership tenfold. She also worked for the leading television station in the Southeast, WSB-TV, for 12 years. Through roles in broadcast sales and as business development/co-op/vendor specialist, she helped pioneer cooperative marketing campaigns that generated over $4 million in new business and nontraditional media revenue from clients in the higher education, homebuilding, associations, health care and retail industries.

Accolades received over the years include an Appreciation Award from the YWCA of Greater Atlanta for her dedication as board member from 2003-2010; a spot on the Women Looking Ahead, 100s list; a Special Recognition Award from the Atlanta Women’s Network, where she previously served as president; a Broadcast Sales Excellence Award and a “Woman Who Made a Difference Award” from WSB-TV; and a Women in Communications Clarion Award for her work as producer on a five-part television series while in Cleveland, Ohio, at WJKW-TV.

As a thought leader, Deborah enjoys speaking to business and nonprofit audiences about strategic business development, relationship selling and more. She also has made guest appearances on numerous TV broadcasts and radio shows and at business leadership conferences.

A passionate volunteer, Deborah currently serves on the board of directors of the nonprofit Star-C and is an active member of the Georgia Restaurant Association, the Metro Atlanta Chamber of Commerce, the Atlanta Convention and Visitors Bureau, OnBoard and the United Way of Greater Atlanta’s Cole Society. Previously she served on the board of directors of the Northside Hospital Foundation and the Greater Atlanta Homebuilders Association Sales and Marketing Council. Volunteering at the Atlanta Community Food Bank, The Giving Kitchen and the Atlanta Classical Academy is also a priority for her.

Deborah earned a bachelor’s degree in broadcast journalism at The Ohio State University. She starts her mornings with focus, discipline and persistence, running 15 to 20 miles per week and lifting weights. She also competes throughout the year in 5K and 10K races, and in 2016 competed in her first Publix Half Marathon. Deborah lives in Atlanta with her husband Jim.

Find out more at the Creative Connector website or call Deborah directly at 404-630-5535.

*DSG & Associates, LLC d/b/a Creative Connector.

North Fulton Business Radio” is produced virtually from the North Fulton studio of Business RadioX® 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, iHeart Radio, Stitcher, TuneIn, and others.

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.

Tagged With: connections, creative connector, dealmaking, deborah schwartz griffin, DSG & Associates, networking

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