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Capitalist Sage: Creating A Solid Foundation in the Beauty Industry [Podcast]

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Frost Salon, beauty business

Working and owning a Beauty Industry Business has its challenges and its own ups and downs. Geoffrey Frost, our guest on today’s episode of the Capitalist Sage, has gained wisdom through his experience in this trade. Join Karl and Rico as they chat with Geoffrey about what it takes to have a good team, manage your business, and ultimately keep your clients happy.’

Resources:
Frost Salon
(770) 680-4549
FrostSalon@gmail.com

Social Media
Instagram: Frost.Salon
Facebook: https://www.facebook.com/frosthairsalon/

“I’ve heard this before for many people and it’s really true. Culture in a business happens in any work environment whether you like it or not. So you better take an active role in shaping that culture otherwise, you know, your culture could be defined by disgruntled employees in your back room.

So you just have to be really mindful of that. We knew obviously there’s all the logistics of contracting and financing, and certainly we’ll talk more about that. But we knew we’d have to build a solid team where everybody’s got a nice shared vision together and you’re all working to a common goal.”

Geoffrey Frost

Karl: [1:11]  Welcome to the Capitalist Sage Podcast. We’re here to bring you advice and tips from seasoned pros and experts to help you improve your business. I’m Karl Barham with TransWorld Business Advisors. And my co-host is Rico Figliolini with Mighty Rockets Digital Marketing and the publisher of the Peachtree Corners Magazine. How’re you doing today Rico?

Rico: [1:30] Hey Karl great week. This is a good time to be podcasting.

Karl: [1:33] Oh, absolutely. Lots of fun things happening. Why don’t we start off by introducing some of our sponsors today?

Rico: [1:40] Sure. I want to let everyone know where we are first. We are at Atlanta Tech Park in Tech Park. in the city of Peachtree Corners. It’s a great space that you can come to. If you’ a midsize or its startup company or a company going through the acceleration phase. Robin Beinfait who started this company, this place actually, is a workshare place with a lot of bells and whistles including being able to meet venture capitalists learn from other startups and such and also for those people that want to come here and use the space as event space, also. This is a great place for that. So let’s take part. This is their podcast studio I want to thank them for that. 

Karl: [2:23] Absolutely. Just a couple cool events that are that are coming up. Asian Film Festival is starting off on October 11. They’re also going to have several events in November that’s also coming up on the schedule. Look forward to North Atlanta Technology showcase and a couple other cool events. Check out their website if you want to see some of the events that’s happening at Atlanta Tech Park. The North Atlanta Tech showcase going to be on November 14th, actually. So another place to see the new technology companies that are happening here.

Rico: [2:59] It’s amazing how this place has been used, the Atlanta Asian film festival is the largest in the Southeast that’s being done. It’s going down right here. Our next sponsor is Gwinnett Medical Center they’ve just opened up about three-four months ago and they have opened the GMC Primary Care and Specialty Center so you can go there and see a primary care doctor and also get your mammography done and your X-ray done right on site and recently Northside Hospital just bought them up. So they’re part of that hospital system as well there. And they’re on Peachtree Parkway, you can find more information at Gwinnett MedicalCenter.org/ptc

Karl: [3:43] Fabulous. Well, I’d like to introduce today’s guest; Geoffrey Frost who is owner and stylist of Frost Salon located right here locally and Peachtree Corners inside of the Ingle’s Shopping Plaza. So if you ever go by Ingles, you could see the salon there. We’re going to talk today about growing and starting a small Salon Beauty business in particular. Just learn some insights around that. How are you doing today Geoffrey?

Geoffrey: [4:12] Doing great. Thanks for having me. 

Karl: [4:13] Oh, thank you for coming and joining us. A lot of times, people talk about large technology business and so on but people would be surprised to know that one of the biggest industries, especially when it comes to small businesses, are in Beauty care. Whether it’s hair salons, nails, eyebrows, waxing. It’s one of the largest segments of the market especially dominated by small businesses. We thought it’d be great to talk a little bit about what it’s like to start up a business like that and some of those things. But why don’t we start off with you introducing yourself to us a little bit, tell us a little bit about yourself.

Geoffrey: [4:50] So I’m originally from Atlanta, Georgia. I was born and raised here. One of the natives. Yeah, how many Georgia peaches are around here. Everybody’s a transplant it seems. But yeah having lived here my whole life watching the city just blossom and grow and get bigger and bigger. I met my wife not in Atlanta, I actually met my wife we can get more into that later, but I met her in London, England and we did a long distance before she came here and together we live in Peachtree Corners. We’ve lived here since we’ve been married we’re about to celebrate our 10-year anniversary. So Jen is a very talented stylist and just an even better person and then together we have four children. We have two boys and two girls and so we’re very much ingrained in the community. Our kids are in the local elementary school. We have our younger two in the local preschool and between church and sports and just socializing and we’re definitely a family full and on the go for sure.

Karl: [5:54] And tell me a little bit about starting up your business.

Geoffrey: [6:00] Yeah. So like I said my wife and I met through the hair industry, so I used to work as an educator for a hair product company and to give you a little more background, my father was a hairdresser. He owns a salon. His salon is in Dunwoody and I used to work with him for years before we opened our salon here in Peachtree Corners. But doing education for a hair product company and what that entails is going to trade shows or even in Salon classes and sharing inspiration, whether it be hair cutting, hair color and just kind of keeping your finger on the pulse of what are the new trends and what are the foundational principles that always need to be hammered home. But through that process it was interesting. I got a chance to go into some really cool salons, you know some not so cool salons. So you get a chance to see some really nice working environments and you can, you know start to sow that seed. What kind of salon would I want to have when the time comes to do it? But obviously I gained an incredible amount of confidence being able to share that vision, that dream with my wife, so it’s not just on my shoulders it’s on hers. So it’s nice if you’re an entrepreneur to have somebody really close you can trust.

Karl: [7:12] Absolutely. I know when couples are in the same industry, they can understand and empathize with you know, things that are going on at work and so on and going on with the business, so that must be a huge. How did she help you with the business?

Geoffrey: [7:28] Yeah. So we always had an idea of what we wanted to do and it’s nice to have that check and balance by somebody who really knows the industry. And so we knew how important it would be. I mean there’s the financial component of course, but we knew how important it would be if we’re going to do this because obviously you can make a great living being a hairdresser working for someone else, not be an independent stylist, and rent your chair and you can make a great living that way. But we knew if we were going to do the salon ownership and build a team that we had to really just have our ducks in a row on what kind of, what kind of employees do we want? What kind of bosses do we want to be? I’ve heard this before for many people and it’s really true. Culture in a business happens whether you, any work environment, whether you like it or not. You know, so you better take an active role in shaping that culture otherwise, you know, your culture could be defined by disgruntled employees in your back room. So you just have to be really mindful of that. So we knew obviously there’s all the logistics of contracting and financing, and certainly we’ll talk more about that. But we knew we’d have to build a solid team where everybody’s got a nice shared vision together and you’re all working to a common goal.

Rico: [8:54] You know it’s interesting to me, it’s the way you were describing. I keep thinking of the restaurateurs I know. Yeah, and they’re all like, they’re looking at other businesses before they start their own. And they’re trying to figure out, “Oh, do I want to be like that, or do I want to be like this.”

Geoffrey: [9:08] A lot of blueprints on napkins.

Rico: [9:10] That’s right. Yeah, and not only that, you’re talking about culture. In a restaurant there’s the front and the back end, right? The kitchen side and then you get the service side and sometimes they compete with each other. But in a hair salon you’re all up front. There’s no backside for that. So I can see how a culture could be taken over by employees, of their disgruntled, or if the team leaders are not strong enough to do that, but it’s cool that you’re working with your wife like that.

Geoffrey: [9:36] Exactly. We love it. We work well together.

Karl: [9:38] If you think about it, so in the restaurant like you mentioned in this. In principle, you’re providing a service. And to provide this service, this is one of the industries that I’m going to safely say might be Amazon proof. I don’t think that they can dominate that industry from the staff delivering that kind of service.

Rico: [9:58] They can’t drone delivery.

Karl: [9:59] They can’t drone delivery their hair. But the nature of it, people are so attached to their stylist. They tend not to jump around, they tend to kind of follow someone. If their stylist move, they move so finding the right people and keeping them motivated and happy. It seems to be really an important part of that industry. Anything that you’ve seen in the industry that’s shifted and how you attract and retain stylists? Because that seems to be an area where, especially in a low unemployment time like we’re in now, that seems to be a challenge.

Rico: [10:37] No, attracting a strong stylist and building a strong staff is really, I mean if you ask salon owners and I would imagine across generally beauty business or other service industries. Staffing can be one of the biggest challenges just finding those right people that fit that culture and what we’re talking about. And it’s always up to, where to find good people, what can I do? But I think you’ve got to almost start with the client in mind and one thing that we’ve done is we’ve essentially tried to identify who is our ideal client. You know, they’re all not going to be the same but just a range. So what is the age range? Do you want to specialize in, do you want to be known as the person who does great color? Do you want to work with women between a certain age? Just knowing exactly who that perfect client is for you and then shaping your staff around, can they meet that need? So one of the biggest things that people in our industry specifically do is, is where’s the education for stylists happening? It’s happening in hair schools. And so you’ve got to get your foot in the door. You’ve got to go in and offer yourself that you’ll do a free class and we’re always looking for people to come in and do that and you can start to sow that seed that you might be a cool place to work and you might have something more to offer than just a chair.

Rico: [12:04] So I wonder for stylists what are some of the things that help the more successful stylist really earn a great income? Is it technical skills? Is it people skills? What have you seen is the thing that helps folks that stand out? The ones that you’ve seen that just stood out?

Geoffrey: [12:23] That’s a good question because there’s a lot of different answers for it. And I’ve seen some people who have the ability to make amazing connections with individuals so much so they almost feel like family, the closeness. And there’s been times I’ve seen really I would say mediocre hair being done by that person. And it’s amazing how much somebody’s willing to look over from a skill standpoint because they’ve made that connection with people. I’m sure you guys have bought something from the salesperson because you really like them and you maybe look back and think I probably didn’t need that product, but boy they sure were great. But with that said, the… I think when you look at the actual aspect of doing hair or doing anything that is of a trade because let’s be honest. We get our license from the state of Georgia, the same place an electrician or a plumber gets their license, same office. So it’s very much a trade and that is kind of a hot topic right now in discussion circles, but there’s an artistic component and there’s a technical component. And to be artistic you have to be technical. Some people choose to stay in that technical zone, but there is no way that somebody can be a successful hairstylist without some nice balance and combination of technical foundations and then expanding on just personal artistry. But at the end of the day the big black eye with our industry has always been are we professional? Do we present ourselves professionally? Are we on time? Are we reliable? And I think for a truly successful person or industry, they’ve got to be able to start with that as a foundation, then build the technical foundation of hair cutting or hair color, whatever service they like to provide And then let the artistry kind of bloom after that.

That’s when you really see somebody kind of have it and that’s more innate.

Rico: [14:24] Do you find more, you were saying about teaching and schools, and that makes sense to me because then you’re finding talent that’s young. That’s already not out there, maybe biased for some reason. 

Geoffrey: [14:37] Yeah. Or bad habits already.

Rico: [14:41] So you find someone that’s maybe talented you could see that talent then and then you just have to bring them up. Is that a better choice?

Geoffrey: [14:48] Yeah, there’s no doubt. There’s many people in my industry that have said and written really inspirational things. But one of those was build a star not find the star and it goes back to the culture thing. You bring somebody in, they could have a little bit of a skewed view from somewhere they worked or like Karl said, they may be using techniques that don’t really aligned with end results that you’d like. And it’s a lot easier to build somebody from the beginning than it is to deconstruct and reconstruct, you know.

Karl: [15:21] So I got, I’m curious then why do most business owners avoid that building, recruiting. That so many love to you know, get folks to switch over and that. But that building, what did it take for a good salon owner to be able to build somebody. Give us some examples.

Geoffrey: [15:46] It’s a good question. I think it’s intimidating to bring somebody in. I think sometimes for a lot of business owners there’s a little bit of fear. Then maybe that person has got some experience might, may not look up to them with revering eyes as much as a new person. They may come in with their own attitudes, but we’ve always thought if we found the right person. Now, the term would be like a senior stylist, somebody who you could really trust to do good work that does not want to manage administrative costs and overhead and things like that. Somebody who justs want to do some good hair, kind of clock in and clock out, and build those relationships and just like I said do a good job. I think a lot of businesses struggle with that because I think they could be a little threatened by it. But it really does take the right person. I mean our industry, the hair industry’s got some characters in it for sure. As you could imagine, you know, there’s many times where somebody says, “Oh you like working in the hair industry?” I’ll be talking to like a male client and, “Oh I used to date this hairdresser. She was crazy” You know? So there are some stereotypes that need to be broken, I think. But yeah, you’re attracting a group of people that generally are very social. They’re very creative so they could be a little bit out there and from an artistic standpoint. And I think it’s almost a requirement that you have ADD like it’s, everybody’s got this energy. I’ll be honest. A lot of hairdressers are typically, were not great students because they prefer to learn in a more hands-on way. And their connection to the world is much more artistic and social. Not so much the you know, sit down, read the book without any distractions. You know, crank out math equations. Those people belong in an engineering program or something like that, but you don’t want your hairdresser to have that personality. You wanted them to be funny.

Rico: [17:32] If I had hair. I’ve wanted someone that would, when they put their hands in my hair and it’s like they’re molding it almost, right? You think of clay and stuff like that, you’d want that beauty to be able to come out. 

Karl: [17:46] I wonder if the model would be more like in the music industries and artistic. So if you’re managing a group of stylists that are talented. They’ve got these A and R guys in music that develop artists they take them and they’ve got some, they could sing a little bit but then they craft them. They send them to the training school, teach them the dance steps put them into school with different producers and they treat artists in a different way, manage them to be successful. I wonder if some salon owners treat stylist less like artists, more like, you know, maybe a group of accountants and that’s what creates these toxic cultures that sees that turnover spinning. You know, have you seen that? 

Geoffrey: [18:34] Yeah, no, I think that’s a really cool comparison. I’ve never thought about it as it relates to the music industry. We used to go get lunch. We did a hair show and a group of us might break away from model prep and go to a restaurant and get lunch and you know, the hostess would be like, alright, you guys are either in a band or you’re hanging out, I don’t know. We do hair. Well, okay, that makes sense, kind of a motley crew of sorts. But, I think that’s a really good comparison. I think that does make a lot of sense with the music comparison because you know, if you get too stuck on policies and creating the structure, then you’re kind of the antithesis of who you say you’re attracting. You want to attract, kind of free thinking artistic people, and just let them know, “Hey, we’re going to take care of some of the boring stuff. The accounting, payroll kind of stuff, you know, but you make the connections. You create art. And we just, you know, require this much professionalism.”

Karl: [19:30] And yeah and to dismiss the myth that stylists maybe can’t be professional or artists can’t be professional. You ever look at any of these documentaries on these musicians, how they train for a show. They have to show up on time to train for… It’s not about the ability to do it. It’s creating an environment that artists can thrive. So they’ll bring the structure and the dedication and professionalism. But what I think it is, is figuring out the stuff that stifles their creativity and removing that and allowing that to be able to be there.

Rico: [20:05] Isn’t it a bit of a fine line too, because obviously you’re renting a chair to some degree, right? They’re independent contractors. So you..

Geoffrey: [20:13] It’s either that or commission.

Rico: [20:15] Or commission. In either way, though they’re still based on the revenue that they generate. Yeah, right. So there’s a little play that you have to have in there you and the whole team cohesion of a company and then the fact that they’re individual players to some degree.

Yes, right. So, how’s that work with the balancing of that?

Geoffrey: [20:35] No, that’s an interesting take. There is a balancing act because I think the establishment of you know, you’re on time, you’re prepared. We do a couple of things with our staff and we strive to be perfect at it and it’s something that we harp on quite a bit but we try to be really diligent note takers. And so, you know, if you come in and you get a service done, we want some good notes on that. What if that person ends up in a different person’s chair? What if they walk in? How embarrassing to walk up to the front and be like, “Hey are you know, hey, are you with me? I’m Geoffrey, I think I’m supposed to cut your hair today.” It’s like, “Yeah, I’m that guy whose hair you cut like six weeks ago.” You’re like, “Oh no. I remember you. I remember you.” And you’re trying to look for some clue where you can get, like a glimpse, where you can jog your memory. If you have some notes if you say this person’s married with a couple kids and maybe you have a child in the same class together. The second you read that you’re going to remember your whole conversation with them. And so I think creating little procedural things that the whole staff is doing, it creates some consistency in cohesion. But then you know, I was talking about, you want your hairdresser to be enthusiastic or funny or energetic. I referenced my dad earlier. My dad has been doing hair for over 40 years. He’s as talented as any hair stylist anywhere and he is very calm. He’s very soft-spoken. He has six sons so he’s very patient but he has this disposition about himself. Well, the people that sit in his chair, they like that. That’s what they expect and that probably is why they keep coming back because you know, maybe their hyped up hairdresser in the 80s was just too much and they found Robert and he’s so calm and it’s like, oh that’s a relaxing time. I get to go get my hair done. So, you know, it takes all different personalities. So you’re not bound. Yes, you’re bound by some of the procedural things but no one’s telling you how to behave or the line of conversations you’re supposed to have. You get a lot of leeway in making the connections how you want to make them and when people keep coming back to your chair, then you know that you’re being authentic to who you are for sure.

Karl: [22:51] I wonder around the question is you asked around the different ways of compensating stylists. So there’s the… If you could explain for folks, there’s booth rental. There’s commission, there’s salary. What are the different ways and what do you see trends happening in that and why people choose one versus another?

Geoffrey: [23:08]  Yeah, Clayton Christensen wrote the book Disruptive Innovation. I’m sure everybody listening to this has either heard of that or read it, as well as you guys. But the disruptive movement in our industry is the emergence of Salon Studios. So you rent an individual room similar to the office environment that we’re in here, which is you know, very state-of-the-art looks really cool and modern. Stylists don’t have to worry about the overhead. They can just go right into that. But you know that may be good I think for individual people and it may really work for certain people situations. In the long run, I don’t know how good it’s going to be because it creates a much more individual mindset and there’s a lot of strength in numbers. And so that’s one thing that’s really changed a lot. That’s a big change. But when it comes to compensation in a traditional salon where you have multiple chairs in there. Booth rent would create a, our independent contractor, independent stylists, would create a rate typically a weekly or monthly rate for how much the chair is and then they’re responsible for scheduling and providing their own products. But in a commission structure it goes back to what we’re trying to build at Frost Salon. More cohesion with the team, sharing supplies, you know, doing large orders and there is power that comes with that. You can leverage some better rates. You can do different things when you’re ordering large amounts, you can share education and I mean that’s really the gateway to staying fresh. There is a burnout rate for people in our industry and I don’t think people burn out of doing hair. I think they just work too much and it’s just too monotonous. And so I don’t think you hit a magical point where I’ve done so many haircuts my head’s going to explode if it’s the same thing over and over again. So when you are buying as a team you can get an education from color manufacturers, manufacturers who make scissors, things like that. I mean they’re looking to push their product and they do it through education. That’s how my wife and I met working for a product company doing education. And when you’re an independent stylist, you really have to be on top of that. You have to really fight the… It seems like a lot of people that go independent. They kind of flat line. They don’t grow or continue to grow which is fine that may be enough compensation that they need. But really the real growth happens, I think with the team. 

Karl: [25:41] I notice some salon owners choose to reduce the hours for you know, again, think of that artist mentality. They might work for days instead of five days or have schedules so they have more flexibility in their schedules. They’re not working to limit the burnout for folks. The other part what we’ve seen in the salon lofts is folks go into it for a while and they tend to go out because you know who backs you up when you want to go on vacation if something happens, there is no support system in it. So it’s good from overhead. You have independent control of things. But your challenge could be, if there’s any disruption, anything happens there’s no support behind you to take care of your clients. And the second a client tries someone else you risk, they might choose to switch.

Rico: [26:36] An opportunity. There’s an opportunity for loss or gain, it just depends on the person who just walks in.

Karl: [26:42] So if someone were to bet on it, you know going into this industry instead. There’s a lot of folks that come to us and their investors are looking to start in the industry.  Any advice you’d give to someone that’s thinking of whether starting fresh or acquiring into a salon that they should consider?

Geoffrey: [27:03] There’s a few things. I mean getting to know the individual stylists that are in a salon. Like I said, they can be kind of eccentric. So that’s that’s a big factor, but I think too, having a knowledge of the actual technicians in the hair industry. There’s a shortage of hair stylists. So there is, there are not enough hair stylists to meet the demand that is out there. And to be honest that’s evident by the fact that some salons charge quite a bit of money and the results are okay. They may be good but not great, you know. And it’s a supply and demand thing, you know. It’s not that people are daring you to say, we’ll go somewhere else and get something better. But unfortunately they look like there are a lot of salons out there but a lot of salons are not fully staffed and if you go to hair schools, a lot of people that go to hair school, they don’t always end up staying in the industry for a long time. There’s a big misconception in our industry. Sometimes you may have a kid that says to the parents. I think I want to do hair. You know, I’m not sure what I want to do. And you know, I’ve heard things like, “Well you know, but you’re really smart you could go to college.” You know, and it’s like this misconception that you don’t have to be an intelligent person to do it. I think trades are are amazing alternatives to colleges. You look at college debt that people incur with, you know, getting degrees that are don’t necessarily translate to well-paying jobs. But I mean just set that record straight hair dressers can make great money. They have an incredible amount of control over their career. Like you said, the flexible hours. My wife, like we said, we have four children. She’s able to juggle a busy part time career as a salon owner and as a stylist behind the chair, but then also has that flexibility to kind of schedule her appointments and come and go. Most career paths don’t allow for that flexibility with that same rate of return. So it’s one of those things you can make great money in a trade. You can make great money in being a hairdresser. You can have a great sense of accomplishment and a creative outlet but there’s a lot of misconceptions about that. I think a lot of a lot of people talk a big game when they say, oh, you know, why not explore something outside of the college realm, but you know, maybe hairdressers perceived a rung too low for their own child or something.

Karl: [29:27] Well, that’s a good point. Well, thank you very much for sharing some of your experience locally. Geoffrey, why don’t you tell us a little bit what you might have, you know going on and how can people reach you and find out more about you and Frost Salon.

Geoffrey: [29:45] Yeah. So Frost Salon like you said in the beginning we are in the Ingles

Shopping Center, right at East Jones Bridge and Peachtree Parkway and the salon’s number (770) 680-4549. Our email is FrostSalon@gmail.com. Pretty straightforward but most people find us we look at our analytics, most people hop on Google. Search us and press the call button so you can ignore the phone number and the email. As well as our Instagram, is Frost Salon as well as Facebook. I think there’s some underscores or a dot somewhere in there but…

Rico: [30:18] Your Instagram is actually Frost.Salon. 

Geoffrey: [30:21] There’s a couple there. It’s funny, there’s a couple other Frost Salons in America. But I venture to guess they thought it sounded cool. Yeah, even if I wasn’t first, it’s actually my name. So I would like to think that I get dibs on it, but.

Karl: [30:34] Absolutely. Well we want to thank Geoffrey Frost for joining us here. He’s a local citizen and lives here in Peachtree Corners and operates a small business and we really appreciate you coming in and chatting with us a little bit about the beauty. We learned some interesting stuff about, you know, if you think about it, it’s really a people business at the end of the day. And being able to attract and build that culture that stylists would appreciate it really what probably drives the business in the long term. So thank you for that. 

Rico: [31:10] Thank you Geoffrey.

Karl: [31:11] We’d also like to thank Atlanta Tech Park for hosting the Capitalist Podcast. Great space for folks, entrepreneurs to come and build their business and network with folks and use some of the facilities here. So we appreciate them for being our host. Rico what else we got going on over the next?

Rico: [31:32] Peachtree Corners magazine is out already. So in the mailboxes by now.

Karl: [31:41] Great job.

Rico: [31:42] Yes, thank you. And it’s been fun putting it out, this issue, but it’s already gone from some places. I was at a place this morning, they had one copy left and I was at a few other places yet. And it’s already gone, which is a good thing. But now I have to restock those places. But the next issue we’re working on is 18 under 18. So 18 kids under 18 years of age that have done great stuff in their lives so far. I want to share that story in the next issue. So that’s the december-january issue.

Karl: [32:10]  What are some of the topics in this issue that you feature?

Rico: [32:13] Well, the cover story is Pets and Their People. That was part of a giveaway that we did and it had a lot of participation. We gave away Lazy Dog Restaurant gift cards and stuff. We also did Voices of Football. So we covered the announcers at Norcross and Leslie in football. We also did Great Spaces. So if you’re looking for a holiday or corporate space for your party there’s 14 of them that’s profiled in the magazine. And online at Living in PeachtreeCorners.com is going to be a full version for each one of those places.

Karl: [32:45] I would also say check out the article about Technology Park and there’s a shuttle if you drive down Technology Parkway called Ali that you can take a ride on and and it is a driverless shuttle that is now operating daily.

Rico: [33:06] From 10:00am to 6:00pm, Monday through Friday. There’s six or seven stops and they’re using I think six of the Quinnett Transit stops as the stops. So you’ll see a little Ali sign and a little QR code. Take your phone, scan the QR code you’re going to end up signing a waiver on your phone before you get onto the shuttle. But once you’ve done that then you can go on that shuttle anytime after that.

Karl: [33:31] Fabulous. So interesting things that are going on in Peachtree Corners and you know, just keep up with the Peachtree Corners magazine. You could also go find us somewhere on the web I believe.

Rico: [33:46] Well if you go to LivingInPeachtreeCorners.com you’ll find the magazine, you’ll find the podcasts for Capitalist Sage and also for Peachtree Corners Life. And one other that sort of is going to be run back up again. It’s called the Ed Hour, it’s about education. So then we do have another major article and that was technology in schools. This issue’s really packed with stuff. What about you? What’s going on with Karl?

Karl: [34:10] Well Transworld, we own and operate another local business here Transworld Business Advisors. We help people with their exit strategies from business. Whether they’re looking to sell, get a value on their business, whether they’re looking to buy or expand through and grow through franchising and it’s been a busy time. We’re adding members on the team and it’s an exciting time lots of opportunities out there, especially as folks are starting to transition out of corporate. The one thing that we’ve been running a theme around is you know legacy. When people always say I always wanted to do something. I always wanted to start a business. So we love to have those conversations with folks and help find them the right place. So you can reach me at kbarham@Tworld.com or online at www.tworld.com at Atlanta Peachtree. And reach out and we’ll help you figure out what’s next. So with that we want to thank everybody for joining us on the Capitalist Sage podcast. In the upcoming months we have some more fabulous guests we’re going to talk with folks about the entertainment industry. We’re going to talk to folks about micro businesses, small businesses, startups, ways for people to create their own small businesses and communities around Metro Atlanta and a lot more fun conversations.

More tech guys are on the slate. So really, really, having fun doing this and we look forward. You could share, find us on iTunes, on the web, on YouTube…

Rico: [35:54] IHeartRadio, Spotify, Stitcher, SoundCloud, Youtube. A bunch of places.

Karl: [36:00] So if you want to follow us on any one of those, feel free to leave a review,  give us some comments and follow us and you’ll get a notification every time we post a new episode. So, thank you everybody. Have a good week.

Rico: [36:12] Thank You.

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CPA Firm Celebrates Opening of its new Peachtree Corners Office

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Hancock Askew

Over 75 well-wishers joined Hancock Askew’s partners, staff and city leaders recently to celebrate the opening of its new Peachtree Corners office with a reception and ribbon-cutting event.

The accounting and CPA firm relocated into a 13,000 square-feet remodeled office on Davinci Court from another Peachtree Corners office when it outgrew that space. The new office accommodates the firm’s 60 employees and has room for 30 additional workers as the company expands, said Hancock Askew partner Russell Reece.

Mayor Mike Mason, Councilmembers Phil Sadd, Eric Christ, Lorri Christopher and Weare Gratwick were on hand for the celebration along with members of the Peachtree Corners Business Association and Hancock Askew partners and business supporters.

Just before the ribbon was cut, Mayor Mike Mason addressed the Hancock Askew team saying: “Your decision to remain in Peachtree Corners when there are plenty of other locations from which to choose is not lost on us,” he said. “The city council and I are delighted that you have again chosen Peachtree Corners for your business location. It speaks volumes to our efforts as a business-friendly city.”

Founded in 1910, Hancock Askew & Co. LLP has six locations:  Peachtree Corners, Atlanta, Augusta, Savannah and two in Florida, in the cities of Miami and Tampa. The company’s first office was established in Savannah. Through a series of mergers and expansions, its most recent, Miami, 2016 and Tampa, 2018, the century-old business has 14 partners and 140+ highly skilled professionals. Its expansion into Florida allows the business to expand into international markets.

The company provides audit, tax, accounting, internal audit and other services to individuals, small businesses, mid-size and public companies. The Peachtree Corners office is located at 3740 Davinci Court, Suite 400; telephone: 770-246-0793, website: www.hancock.askew.com

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Capitalist Sage: Building a Brick n Mortar Retail Business Based on Healthy Living [Podcast]

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Press Blend Squeeze

You may not think much of eating your fruits and vegetables, but Matt Scott, CEO of Press, Blend, Squeeze and our guest on this episode of the Capitalist Sage has something to say about eating healthy. After prolonging his father’s life through diet and nutrition, he went on to open up his health food business to keep his community healthy too. Join Karl, Rico, and Matt
as they discuss just exactly how he has worked his way into the health food business.

Social Media:
http://instagram.com/pressblendsqueeze
https://twitter.com/PBSjuice
Website: https://www.pressblendsqueeze.com/
Email: Info@PressBlendSqueeze.com

“As much as people know or don’t know you could really change the way that you feel, not only physically, emotionally. And so we changed his diet and instead of the five month diagnosis we had him for over five years through food. So literally from that, I felt a calling to put together a strategic business plan on how can we change and save lives through food. So that’s literally our mission at Press, Blend, Squeeze, that’s to save lives through food.”

Matthew Scott

Podcast Transcript:

Karl: [00:00:30] Welcome to the Capitalist Sage Podcast. We’re here to bring you advice and tips from seasoned pros and experts to help you improve your business. I’m Karl Barham with Transworld Business Advisors, and my cohost is Rico Figliolini with Mighty Rockets Digital Marketing, and the publisher of the Peachtree Corners Magazine. Hey Rico, how’re you doing today?

Rico: [00:00:48] Good. Good.

Karl: [00:00:49] Any sponsors today for the podcast?

Rico: [00:00:53] Well, Atlanta Tech Park is a major sponsor. We’re in their podcast studio, so Atlanta Tech Park here in the city of Peachtree Corners in Tech Park. It’s an accelerator just down the block from and right on the road of Curiosity Lab at Peachtree Corners. So this is one and a half mile autonomous vehicle track. For those that don’t know, it’s the only one of its kind in the Southeast and to some degree, the only open live living at lab, if you will, in North America or other States in the United States. So lots of things going on, and I’m looking forward to doing this episode.

Karl: [00:01:30] Absolutely. One of the other nice things is it is powered by 5g, Sprint’s 5g system here, so that if you have a company that wants to be on that higher speed internet mobility, internet system, you can work out of Atlanta at their park or others. Do test here. Run that. So just a great hub of technology right here in Peachtree Corners. Today we’d like to introduce our guest Matthew Scott, founder and CEO of Press, Blend, Squeeze Cafe and Juice Bar. I guess it’s a, it’s a local juice cafe, juice bar that opened up in the forum. There’s a couple of them here in the Metro Atlanta area, and we’re going to talk about starting and building a retail business focused on the healthy food movement. We know that everyone has been trying to get healthy and we see folks trying different types of diets, trying different types of alternative to the traditional fast food. And we found really interesting your approach and taking a look at this market and being an entrepreneur and trying to build one. So we want to talk a little bit about your journey in doing that. Matt, why don’t you tell us a little bit about yourself?

Matt: [00:02:50] No, absolutely. And guys, thanks very much for having me. I really appreciate it. You know, before two years ago, I was not in this business. So I was in corporate America for about 15 years, both from significant leadership roles in fortune 500 companies down to startup companies and taking them public all in high growth areas. And I saw an opportunity here and you know, it’s kinda like how most people get brought to changing their diets. It’s when you get punched in the face. And so myself, my dad looked at me and he was given five months to live. From the doctor told me that he had stage four esophageal cancer. And he was my best friend. And I’m sure like I did, like the rest of us would do and say, well, what can we do about that? What, what, you know what, what options do we have? And, you know, so diet is an extremely. Strong portion of influence into everyone’s life. As much as people know or don’t know you could really change the way that you feel, not only physically, emotionally and so we changed his diet and instead of the five month diagnosis we had him for over five years through food. So

literally from that, I felt a calling to put together a strategic business plan on how can we change and save lives through food. So that’s literally our mission at Press, Blend, Squeeze, that’s to save lives through food. And we do that multiple ways and we could get into that a little bit on, on, on that as we go forward. But that’s what we’re trying to do. We had the opportunity, I’m glad that you noted that, It’s just starting out here, down here in Atlanta. We had the opportunity, we were living in Chicago when we started this business, and we could have put this anywhere in the United States that we wanted to put it. Because we moved back to Atlanta to put it here. We saw a significant void in the Atlanta market in comparison to other areas of the country from a quick service, healthy restaurant and juice bar. If you’re driving around Peachtree Corners, there’s not that many options that you’re going to be able to get to. And people thank me each day for opening up and we’re truly seeing the snowball going downhill right now. From people, you know, grabbing on, we actually took over an old juice bar there, but people, it was out and closed for I think almost a year. And so we took it over. And so people are just beginning to realize that we’re back in there and, and they’re very thankful for it.

Karl: [00:05:52] So I can ask the question around you know, your background. Did you have a food background when you started thinking about nutrition background? Tell me a little bit about your background and, and how it helped you, you know, come up with the concept.

Matt: [00:06:07] Yeah, sure. So food background and if you call it this when I was putting myself in high school through college, I had the privilege of going to work for a quick service restaurant. That was the first location of then soon to be broadly franchised restaurant. So I was a hard worker. They brought me in and they allowed me to be one of their lead trainers and opener of new locations. So I got some good experience on how to take a model and replicate it and open it you know in, in a new location and to train the staff. In addition from a food customer service aspect, I worked in restaurants going through college to make Money. So I, I dealt with customers, delivered customer service, was able to take orders attentively and, and give that customer level of customer service in the food industry. But as far as you know being knowledgeable in the space, I was I consider myself a relatively healthy eater. I was always an active in sports physical working out and exercise. And, and so I would eat healthy, but my knowledge increased via doing my due diligence over the web and talking to industry professionals, doctors, nutritionists, et cetera. Once I started looking into it for my dad.

Karl: [00:07:46] So what, what, what most people don’t really understand about the food choices they make and how are you able to, to help modify your dad’s diet. What were some of the changes that you saw really have an impact?

Matt: [00:08:00] Sure. So after my father passed the, I, I was a little bit anxious. I said, doc, you know, my dad was 67. I got two young kids like this, you know, help me out here. And he said, you know, your father’s cancer was not genetic. It was not hereditary. Because there’s three things proven to fight cancer, and that’s eating clean, eating green, and exercise. So, you know, reality is, is that a majority of Americans, I would voucher to say that the majority of people in the world don’t eat enough green vegetables. Green vegetables that basic biology, it has

chlorophyll and photosynthesis, and that’s what gives your cells energy. It also allows your cells to reproduce, gives them the strength to reproduce at a high level. And so cancer feeds on deficient cells. So if you’re in, and this is, this is part of what extent am I, my dad’s life is by having cells that are strong and can defend themselves. Cancer got nowhere to live. I’m sure we’ve all heard stories of people being able to overcome cancer and become cancer free. And some of that’s through killing, you know, radiation and killing all those cancer cells. But that kills all the good with the bad. So if you do some research people have become cancer free through diets. And so greens are that prominent thing.

Karl: [00:09:42] And you know one question along that. Why don’t people eat more green? It’s here, here in the U.S., here in Georgia. What’s, what’s holding us back?

Matt: [00:09:49] Okay. So let’s be real. It is accessibility. It is convenience. Our lives are not going to get any slower. Our lives are not gonna get any less busy. and the food that we have at our disposal. Is a convenience factor. And it’s gotten to the place where the food industry is a business rather than a need. So you know, when we were all, go back 200 years in the United States and we’re farmers and gatherers and everything we ate to survive. Now, people, the food is a business. They’re trying to make it. What do you do in a business? If you’re not going to grow from a volume standpoint, you’re going to try to make it less expensive. And so the majority of food choices at our disposal are from large businesses that are trying to make food cost-effectively.

Karl: [00:10:56] So is this part of the movement that makes like Whole Foods, Sprouts, these types of places? Cause you know, on one hand you see these, these places that are popping up everywhere. So the, there is, for those that they can access it. They’re still not making the choice whether the, you are, you’re in a supermarket, they’re not building diets around fruits and vegetables and increasing the amount of greens in there.

Matt: [00:11:23] Well I would, I would be careful because the fastest growing segment of the supermarket is organic vegetables. If you’re looking at all the areas.

Rico: [00:11:33] I mean, I can see when I go to H Mark, for example, and you go to an Asian supermarket, you will see a big area of vegetables. When you go to a Walmart, only recently have they increased it a little bit and only in those areas where they’re competing with an H Mart or something along those lines. So Americans still are not consuming. You’ll find South Americans use farm communities that are first generation, maybe American. They’re still consuming that. But as they get further away from that generation they’re going back to the processed stuff, they’re going back to the easy stuff.

Karl: [00:12:09] I mean, when you think about it and growing up in New York, how many fruit stands you would go to fresh if you’re in Brooklyn picking avenues. And the city…

Rico: [00:12:23] Tomato, tomato is the big one over there.

Karl: [00:12:23] All of these places that, that had that. And so yeah, accessibility made it easier for people to get fresh, good quality, healthy, healthy food choices. And, and so as part of that, the shifted in parts of the country where, where that tradition wasn’t there and it was more based on supermarkets, they were, where they can control. What people are selecting is, is impacting that.

Matt: [00:12:51] Yeah, I agree. It’s so, it’s accessibility. It’s knowledge. So you know, people say, Oh yeah, I like to eat healthy, but they don’t necessarily know what that means. So like it’s, it’s being able to, to truly understand, you know, even my father, you know, he would even joke to me and be like, Oh, I’m eating an organic banana. And I’m like, well, you don’t have to eat an organic banana. The skin on the banana protects the banana, like so, so like it’s the knowledge of you know how to do it. But it’s also, there is so much of an emotional, psychological, it’s almost reactive because we’re so busy. So all of a sudden instead of it, you know, you being conscious about what you’re eating, your brain goes, Oh, I’m hungry. And. The reality is, is studies show that sugar is eight times more addictive than cocaine. And what you can find is in majority of that quick service food that you have an emotional reaction that says, I’ve waited so long, I’m starving. Now I need to go get something to eat. Let me pull over into this drive through. I’m almost certain than almost any option that you choose there has sugar in it, high fructose corn syrup in it. And, and, and so your body reacts. And there’s, there’s a, an emotional receptiveness that goes off in your brain, that says that.

Rico: [00:14:18] You brought something up that really, and I haven’t seen this, and then it doesn’t make sense to me now that you’re talking about this, is that you have Starbucks, you have Dunkin donuts. The majority of what they sell is true through that drive through. You’ll never see a Starbucks without, without a drive through. But there was one that I remember, there was located somewhere and they asked and they got a rezoning, so then they were able to have a drive through through that one because that was the only way to save that store. And I have yet to see it think a drive through juicing bar. And it doesn’t take long to, to create it. It’s just as long to critical lotta. I think in a, in a Dunkin, not sure. So I haven’t seen that and that we talk about how easy, if that was easy, if I could drive through that, I probably would get that over something else.

Matt: [00:15:06] I’m sure. People ask for it all the time. It’s, it’s absolutely on the radar as far as like convenience. Now what I would say is that it because a lot of times you’re making it to order. It’s not going to be necessarily the speed of others. But you know.

Rico: [00:15:28] I’d wait there for a minute. I mean, it doesn’t take long for, depends on the process.

Matt: [00:15:33] Yeah, no, it’s, it’s absolutely on the radar. We’ve, we’ve discussed it. We’ve looked at locations. We’re not there yet as far as, you know, but it is on the radar. And I’ve had a lot of people bring up the convenience factor. So it goes back to three things. It goes back to

convenience. It goes back to knowledge, and it goes back to emotional, kind of reactions and, and, and addictions to sugar. And, and I even go to people, the, the, the misunderstanding that healthy can’t taste good. So a lot of people kind of coined. I used to have people come into our Dunwoody location and the, the wife and the kids would order something and the husband was there and I said, Hey, you know, can I get you something? He goes, I don’t eat healthy. And I said, well, hold on. Like, what? What, what does that mean? I was like I was like, you don’t like guacamole? No, no. I like guacamole. And I go, well, hold on. Can we get you some, a Turkey wrap with some, some hummus and some roasted peppers and some, you know balsamic glaze on it, man, it sounds really good. And then, you know, I’d say, well how about PB and J smoothie tastes like a peanut butter and jelly sandwich but doesn’t have any sugar in it, but it’s really good. Oh, I like PB and Js. Avocado toast, soup. Like they’re like, Oh man. And then they eat it and then they go, man, this is really good. I go, I guess you eat healthy. Like, so it’s that coined a misconception of it’s true, healthy can taste good.

Rico: [00:17:14] And you also have food though, right?

Matt: [00:17:15] Oh, we do. Yeah.

Rico: [00:17:16] See now that didn’t, and I know that vaguely you have food there, I haven’t been into the store yet. But I would not realize that. I think if I was passing by would think juice point. I wouldn’t think food just that. But you do have a menu though?

Matt: [00:17:30] Absolutely. We do about 50% of our business in food, we do a ton of catering. One of our biggest growth pillars is in corporate catering. You know, when I was in corporate America eating the same, we would cater probably three to four times a week for lunch. And it was kind of from a rotation. And, you know, I’d get a pizza. I could tell you I’m probably going to get pizza. I can tell you, I might get a fried chicken sandwich for breakfast. And you know, I might get Mexican or some type of Southwestern and majority of those after I ate them I was ready for my couch. And corporations are realizing this and, and they’re actually like. You know, some of the large corporations and the reasons why we chose these locations are strategically positioned to align with those corporations. So like Newell Rubbermaid further snack attack on a quarterly basis caters 600 as eyeballs from us IHG regularly for their executives. I’m actually in February, I’m going down and meeting with the CEO’s executive assistant, and she has 14 people that report up to her, that schedule for hundreds of people, but we’re giving them a tasting of our lunch. I mean, so we have these large corporations that are not only providing lunch for their employees, but they’re being more conscious of what they’re providing because it’s actually leading to productivity. Like they, they, you know, they’re, they’re going back and not trying to, you know, relax at their desk.

Karl: [00:19:19] No, I was going to say, I remember doing meetings and corporate training around the world for, for years, and we’d have four or five days of, you know, catered and meals and so on. And we would always, I would actually ask for certain menus on certain days because what happens right after lunch and they come back in and that energy drop.

So we would actually specifically pick activities and exercise right after lunch, which had movement. Kind of wake people up because those heavy lunches, they’d come in with pasta and folks would be ready to go to snooze town and, but, but even having options that gave energy boost you. The afternoon snack break would have muffins and donuts and cakes and cookies. And we started shifting to nuts and try and start a team that shift. But that was my two choices there. There wasn’t a menu of stuff that people could do on that break time. that helps boost that productivity that, that you were mentioning. So, so, so I think that’s, that’s, that’s something that’s seeing, that’s happening in the market.

Rico: [00:20:27] Also, we were talking a little bit before the show before you showed up, and we were talking about how it’s Amazon proof almost. You can’t ship, you can’t ship certain things. You still gotta eat, you still can’t go out that way. But how, how do you find the challenge of doing, you opened a brick and mortar store? You didn’t have to build it, obviously it was built out and you’re there.

Matt: [00:20:49] We build out our last one, our first one. Yeah.

Rico: [00:20:51] So how do you find that? How do you in a world where people are shifting away to Amazon ordering, like I said, over Amazon proof. Or Uber, Ubereats, Dash, Door Dash and stuff like that. How do you find that? How did you find it opening up a place like that? That’s not a franchise essentially.

Karl: [00:21:12] You chose brick and mortar and retail location to deliver this concept. What were you thinking? How do you, how do you, how do you make that decision?

Matt: [00:21:22] So when I experienced the benefits of what we provided, like, and I would encourage anybody that listens to this podcast, I’d encourage you guys go in and grab a juice, go grab a roots and fruits, which is a juice that has some beets in it and has a little bit of orange and ginger. Tell me how you feel in 30 minutes. Dynamically different than anything that you’ve ever eaten or drinking or drank from any other place. So, you know, the reason or how I did that is said, man, this is amazing, you know?

Rico: [00:22:07] But, but how did you find, how did you develop the idea into a business? I mean, how you, you had to open a brick and mortar. What did you fit. You know, buying equipment, the ingredients. How, what’s the actionable side of that?

Karl: [00:22:22] The rest of their business. Often the products, the product and the need is clear and you’re matching those two up, but you’re running a business, right. And it takes, it takes a bunch of things coming together.

Rico: [00:22:33] And this is the second location, right? That you have. So you’re working towards either a chain of them or franchising at some point? How is that working? Doing that?

Matt: [00:22:41] So, so again, I go back to my experience. I was part of a startup. When, when, when we’re, when I was at a startup, we wear many hats. I got recruited actually I should say when I was part of Rubbermaid and my initial job was for a division that started around 30 million. And I got put into at a young age, I’m blessed. And, and believed in by a president and a mentor that gave me significant responsibility to take that 30 million of vision, gave me a significant amount of budget. The ability to strategically put the Strat plan together and grow that business within four years to 150 million globally. I got tapped out of Rubbermaid and recruited out of Rubbermaid to go be part of the largest office products company in the world. And then they brought me in with a pipeline funnel of zero, and they said, we brought you in here because your skillset is different and in the need of nothing that we have internally. And they tap me. And within two years we had a sales funnel of over 150 million in the pipeline. And I had a team of eight, you know, rolling up to me. And so I wrote those trap plans. I built those trap lines. So the way that I did this was I treated this, I said, Hey, there’s an opportunity. Let me, let me develop this business as I would develop any other business. So I went and sourced out partners. I went and did my research on how other competitors were running. I identified machinery that we needed. I put together the menu. I oversaw all the marketing. And I mean, like we, we’ve had wildly success in two years. That, that I like feel so good about, I mean, and blessed honestly, we get like almost 9,000 unique people that have come into our store and given us their telephone number and said, Hey, we are okay with you contacting us, here’s our telephone number. We want to be part of your membership program. Like, I don’t see businesses that are like national brands even, you know, doing that in, in single locations and stuff. So, so we’ve been putting the right strategy around the business to, to have a performance or whether I have experience or not, I treated it like any other business or any other product line and I was about to grow and, and put the…

Rico: [00:25:26] Any challenges that you’d like to share that you’ve overcome?

Matt: [00:25:28] Yeah, I mean, we all got challenges. But I would say, you folks that are entrepreneurs is, be careful of your blind spots. We all have, we all, we all have things that we overlook. You know, one of the biggest hurdles is going from one to two. So as an entrepreneur, you’re at that location. You’re there, you’re, you’re, you’re a part of that location. Yeah, you can’t cut yourself in half. So you know, I would say you know, put the process in place, you know, and just because, you know, the process, operational efficiency and, and that’s something that we had to build out. And, and it’s, you know, a continuous work in progress.

Karl: [00:26:29] So I, I would, I think, I think what you’re describing though is. You know, a theme across big corporations or small business, and it’s the question of scaling. I’m doing it once. It could have been lucky. Right time, right place. Stars align. A thousand reasons why you’re able to achieve success. And sometimes it’s brilliance and hard work. But to replicate it in another location. What are some of the things that would, you know, knowing what you know now, you would, you would advise someone going, thinking of doing, you know, multiple, like what would be things they can put in place that would ease that transition, right? To grow?

Matt: [00:27:13] I probably, we say to people to create a network, right? Because we’re all good at something and we’re all not good at everything. So by having a network of, a sounding board or afforded a trusted board of advisors, it allows you to be stronger in areas that you’re weak. So it allows individuals that might be able to be stronger in certain areas to help you strengthen, sharpen, or have a visible blind spot.

Karl: [00:27:54] I think, I think you’re hitting on something. If you’ve seen many successful people and they talk about this success, there’s usually a network of advisors they have. Even if you look at a large corporation, they’ve got a board of directors, nonprofit governing boards. There are these folks that serve multiple functions. One is to hold a mirror up to you and say, Hey, you know, I know what you’re saying and seeing, but here’s what I’m seeing and here’s things you may not notice. May, may help with the blind spot. They have wisdom and advice to give in the area that you may have the expertise to be able to do that. Third, they can help hold you accountable if you said you were going to do something, if you’re the boss who’s gonna, who’s gonna challenge you, if you decide, ah, we’ll do that next month. But, but, but if you have that advisory group, they, they can be in a position to hold, hold you accountable for them. And the last one is some of the networks that that affords you. they know people that might help you be more successful. And it’s one of the things we often see entrepreneurs struggling with. They eventually build it. We were talking earlier about these groups that do that. But they may have got 15 years of pain in before they realize, man, if I only knew someone that knew about payroll and what can happen if I mess that up.

Rico: [00:29:15] It’s like anything else in life. If you’re a writer or you’re a sports person. Everyone thinks you’re an overnight success, but it took you those years of pain to be able to get there. And most people don’t want that. They want to be able to see success. And maybe you get that advice from that successful person or that team of people to help you get there.

Karl: [00:29:35] Absolutely.

Matt: [00:29:35] Yeah. I’ve been, I’ve been really fortunate and blessed for the people in that have come into my life and, and you know what? A lot of times people have the desire to help people, you know? Sometimes you just have to ask for it. Other times you just, you have to go look for it. But, but people want to help people. And, and so you know, entrepreneurs often like to think they have to do everything themselves. And, and that’s something that an additional piece of advice I would give to entrepreneurs is, you’re no good to anyone if you’re burnt out. So give yourself some space and give your team some trust.

Karl: [00:30:24] No, I agree. I said, the one thing you can’t manufacture and create more is time. And so there’s only so much time that an individual has, and as you grow a business, it actually requires more time very often. And if you don’t build a team to support, it supports you to be able to do that. It makes that a, a challenge. So tell me a little bit about what you got going on next. What’s next for the company and for you?

Matt: [00:30:50] So for a, happy new year to you guys, 2020, it’s going to be a great year. We are gangbusters into new year’s cleanse programs. So it is the best way to reset your palate, control your addiction to sugar, get you jump started into your nutritional needs. It’s amazing the results that we see. We’ve been doing this for over two years. People come back re-energized, they sleep better, their skin’s better. And this is in three days. They, last time I did a cleanse, I lost eight pounds. I hear that over and over again. But you’re refreshed, you’re rejuvenated, and then crazy enough you might think, Oh yeah, I’m you know, after three days I’ll be ready to eat a cheeseburger. You know what? You’re not like, you’re ready to go down the road of, you know having that healthy palate, that healthy diet, and it’s, it’s crazy what it does for you. So that’s, that’s number one. Number two, I would ask any business within this kind of Metro Atlanta area to give us a chance at catering. Everybody has a need one time or another, probably in the next couple of weeks. I’m sure every single business has one lunch that they’re going to be looking to serve to multiple people. Give us a chance, put us in there. And, and, and I think you’re going to love it. I think you’re gonna enjoy it. And I want to be talking to you about your second order. So give us a catering opportunity because it’s a, it’s, it’s totally an awesome experience. And we got resoundingly reviews and feedback from it. So we’d love to work with people.

Karl: [00:32:34] Awesome. I’m glad. Well, located in the Forum your first location is where…

Matt: [00:32:41] It’s in Dunwoody Village. So where the Fresh Market is, or if you know where Village Burger is, or if you know where the post office is down there, so it’s in Dunwoody village, which is getting rejuvenated as well. So that’s kind of exciting.

Karl: [00:32:55] How can folks reach, you learn more online. social media.

Matt: [00:32:59] So we got thousands of followers on Instagram and which is @PressBlendSqueeze. The location here has Press, Blend, Squeeze at Peachtree Corners. Facebook Press, Blend Squeeze. If anybody wants to shoot me an email, if they have questions about a cleanse Info@PressBlendSqueeze.com comes directly to me. I see them all. I’d love to do a group cleanse. We’re doing it with a lot of gyms. So we had, last week, we had like 70 days of cleanses go out. And, and so this next week we’re partnering with another gym here in this area. And, and we have a couple more on the radars. So it’s, it’s time. Do it for yourself. Do it for your family. Do it for your energy, but do it to feel better. So it’s, it’s pretty cool.

Karl: [00:33:56] Well, I want to thank you very much for being our guest today. Our guest, Matt Scott, CEO of Press, Blend, Squeeze, for your time today and sharing part of your journey and, and inspiring others that may be thinking about making a change in their career and their life. And finding ways to do it in a way that’s aligned to something that you’re passionate about. Being healthy and how to, how to solve this problem where folks can’t find it as convenient to get nutritional greens into their, into their bodies that they can. So we really appreciate your joining us for that. We also wanna thank Atlanta Tech Park for hosting us every time we have one of our episodes here to Capitalist Sage Podcast. If you’re starting a business and looking

for a great environment to come and work and be around people that are going on this entrepreneurial journey along the way with you, it’s a great way to build network. Entrepreneurs sometimes can be a very lonely endeavor. So having other founders and makers and, and business leaders to collaborate with is, is really, is really powerful. I’m Karl Barham with Transworld Business Advisors of Atlanta Peachtree. Our business advisors are available to consult on your business, whether you’re looking to improve or grow the business, or you’re looking to exit or start a business. You can contact any one of our agents to be able to help you with that are available at ​www.TransworldBusinessAdvisors.com/AtlantaPeachtree​. And Rico, why don’t you tell us a little bit about what you’ve got going on and going to the next couple of weeks.

Rico: [00:35:32] Sure, so I run Mighty Rockets. We’re a social media online company. We provide content branding and whether it’s on LinkedIn or Instagram and soon to be Tick-Tock, cause there is a market out there and believe it or not, in the United States, it’s like 24 million users and tick tock and 40% of them are between 18 and 24. So that age. Voter age, if they felt maybe so, I do that. That’s MightyRockets.com. But I also published Peachtree Corners Magazine and you could find, you could go to LivingInPeachtreeCorners.com and find our website. We talked about what’s going on in the city. We’re doing several podcasts upcoming in with Peter Coin, his life with some interesting guests. Also Prime Lunchtime with the City Manager is coming up Thursday. After the fourth Tuesday, we’ll be discussing what’s going on in the city of this month and let’s what the city is planning over the next few months. A lot of new stuff happening out there and we’re working on the next issue of Peachtree Corners Magazine and the cover story, I believe that comes the story we’re working on right now, and it should be, the cover is innovative and innovative companies and organizations in Peachtree Corners. I will be doing some podcasts as well for that to complement that. So this is just a lot of stuff going on. So if you’re looking for any either trends to reach the audience here on Peachtree Corners through the family podcast, or you need someone to work with you online or branding, that’s what I do.

Karl: [00:37:03] Oh, fabulous. Well, you know, I really look forward to the next edition of the magazine and folks, if you go around and take a look and read through it, just knowing what’s going on here in the local community, whether it’s business, whether it’s what’s happening in the political team, what’s happening with, with, with various organizations. It’s just a good way to keep up with events and activities and in the area. So one of the thank you for that. That’s all we have for today. Look forward to talking to you some more and having some more great guests like Matt Scott that came to visit us today. Thank you everyone.

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Best Business Tools and Tips Gathered from 12 Capitalist Sage Episodes [Podcast]

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Capitalist Sage

Summary:
2019 is over and 2020 is coming fast! Join Rico Figliolini and Karl Barham as they sum up all of the greatest hits from this last year of the Capitalist Sage Podcast. Gather all of the tools you need to make 2020 the best year in business.

“If there’s one thing that we tried to do in 2019 with the Capitalist Sage was bringing you people that are in the trenches doing this every day. We learned from people’s failures. We’ve learned from people’s success. But our goal is to share this information with as many people as we can and just get you thinking there’s plenty of people out there that can help you with your business.”

Karl Barham

Time Stamp:

Lines are linked to the individual episodes

[00:00:30] Intro
[00:04:21] Social Media Branding for Lead Generation with Bonnie Mauldin
[00:07:29] Wendy Kinney talking shop on effective networking
[00:10:53] What Comes After Becoming a Franchise Owner, with guest Gary Birnberg
[00:14:20] How Business Mentorship Empowers Entrepreneurs, with Erin Igleheart
[00:17:49] Cliff Bramble on How to Thrive in the Restaurant Business
[00:20:38] Top Three Mistakes People Make When Starting Their Business
[00:24:13] Going into 2020
[00:26:38] The Legal Pitfalls of Buying and Selling a Business
[00:27:28] Preparing Your Business for Exit
[00:29:26] Entrepreneurs Creating Mobile Food Events
[00:29:53] The Business Of Organic Farming
[00:30:40] Laron Walker Scaling iOT Technology from Education to Commercial
[00:31:22] Beth B Moore discussing entertainment law, emerging trends, the film and music industry

Podcast Transcript

Karl [00:00:30]: Welcome to the Capitalist Sage Podcast. We’re here to bring you advice and tips from seasoned pros and experts to help you improve your business. I’m Karl Barham with Transworld Business Advisors. My co-host is Rico Figliolini with Mighty Rockets Digital Marketing and the publisher of the Peachtree Corners Magazine. Hey Rico, how’re you doing today?

Rico [00:00:47]: Good Karl.

Karl [00:00:49]: Well today, we’re having a bonus episode where we’re getting to talk about some of the sage advice we learned over the 20, 26 plus episodes in 2019. All the guests that came by and shared some of their knowledge that’s helping business owners. So we just wanted to give, just discuss some of those that we thought were particularly impactful and talk a little bit about how they impacted our businesses and how they can impact your business in 2020. Before we get started, why don’t we talk about our sponsors for today.

Rico [00:01:29]: Right. We are here at Atlanta Tech Park in the City of Peachtree Corners. It’s an accelerator. It’s a huge place. It’s where you, because where you start off at after you’re at an incubator. Small businesses, think we-work-share hits Silicon Valley. It’s that type of atmosphere where you can meet Venture capitalists, learn from others, network, the variety of things going on here. And we’re on this road in Technology Park that’s called Curiosity Lab at Peachtree Corners, which is the autonomous vehicle track, the only one of its kind really in the United States. That I can say to us about where you can come as a company. That’s either an IOT or the does anything with autonomous vehicles that need to 5G with Sprint 5G is in this whole area of technology park, right? So anything that you want to test out on the mobile track or within the environment of Curiosity Lab so it doesn’t have to be necessary in a vehicle to be on a light post to be on someone walking to be a bicycle riding can do anything where technology needs to talk to each other to everything. It’s an atmosphere where the city of History Corners is providing it essentially free to companies that meet certain requirements to be able to come here and do business and check out there to work their real projects.

Karl [00:02:55]: It’s one of the great things about the Investments that are being made in Gwinnett County. In Peachtree Corners in particular and the whole general Southwest Gwinnett that’s bringing companies, technologies, to make this vibrant environment where businesses can thrive. And that’s a little bit why we thought it’d be great to talk about some of the guests at help shared some of their expertise and insight and experiences on how they created small businesses and how they help support small businesses being successful. So Rico and l will talk about a couple of episodes and what we learned about them and share that with you and you can of course go and check out any of these episodes on any one of our streaming platforms.

Rico [00:03:43]: Whether it’s iTunes or iHeart Radio, just look up Capitalist Sage on any of those and you should be able to find us.

Karl [00:3:49]: And if you want to keep up with some of the great episodes we’re going to do in 2020, definitely follow them, subscribe to them and please leave a comment and then we’d love to hear back from what people are thinking and give us an idea of the future guests.

Rico [00:04:03]: And if you want to watch the Facebook live stream or tell your friends, you could just like our Peachtree Corners Life page and it will be notified when we go live. In this year, one of the goals is to be able to put us on to do some limited LinkedIn live feeds and also to be on YouTube live as well.

Karl [00:04:21]: Fabulous. So we’re going to start off, when we started one of our first guests we had was Bonnie Mauldin from The Mauldin Group who talked to us about how small business owners can use social media marketing as part of their overall marketing and sales strategy in their in their business. And she shared a lot of great tips. One in particular that I know that I found interesting was the different platforms whether you’re on LinkedIn or Facebook or YouTube, Instagram, Pinterest and others all serve different functions. They target a different audience and they have different features about them and knowing and understanding the right platform for your business is one of the key things.

Rico [00:05:10]: If you’re doing business to business, obviously at that one of her things were was LinkedIn with was the place to be. And if you doing consumer, Facebook, Instagram. I think we talked a little bit even about, maybe not Tick Tock, but some of the other software online social platforms out there. But every business has a demographic and market.

Karl [00:05:34]: Absolutely. And the other thing we took away from it where in the past you might have think it was an option for your small business. It’s no longer an option. If you know of anyone that has a mobile device, they’re probably communicating and getting information from their social media platform. And so it becomes really important to have really compelling stories being told through those platforms. So instead of advertising and promoting a product, we talked a lot about storytelling on information you’re sharing about problems or things that your customers want to know that would lead them to your site. They’re going to know it’s you when they come and visit it but really telling them about the problems and the choices they’re making and being more educational and teaching them is a key attribute of really good successful social media strategies.

Rico [00:06:30]: Right. Whether you’re using it as a behind-the-scenes tool where you showing what’s going on in your office or something. Or whether you’re giving tips on how to use a certain product, those were the things.

Karl [00:06:43]: Absolutely. And the last thing to note on that is definitely include a call to action. Once you get those people looking at your site and following you and you’re sharing information. They want to know what to do next. How to get more information. How to reach you, even how to make a purchase. So including a call to action on all your social media. Now some of you may be able to do this yourselves if you have the time, but if you don’t its really important that
you have a discussion with someone and seek out professionals that can help you with your social media strategy in your business and it’s really imperative for people that are looking to grow their business in 2020 to develop some strategy and invested social media,

Rico [00:07:23]: And be consistent in it and make sure you’re there. because if you’re not there your competition will be there.

Karl: [00:07:28] Absolutely.

Rico: [00:07:29] The next one in line was Wendy Kinney she talked about how referrals are different from sales.

Karl [00:07:36]: Absolutely. Effective networking, many people probably have the experience, I know I have, of going to networking meeting. It could be a local chamber. It could be a non-profit group, an industry group and passing out a lot of business cards in wondering why you’re not getting more business and referrals from them. And what was really great that Wendy was able to share, she’s a relationship marketing expert, she told us about the differences between a sales approach and how referrals are generated. And one of those differences is started with the timelines between the two being different. A sale is typically between someone selling and someone buying and it’s a direct line of communication and pretty often the impact of that is immediate either; Yes, they’re going to buy what you’re selling or no, they’re not. Referrals have a different timeline. They happen through a third person. So the sale that typically happen doesn’t happen until first a connection is made between the person that’s selling and the person that’s referring and you do that’s built around credibility that’s established getting to know the person and trusting with the person and really understanding what they’re doing. But that second person, the person that’s making referral, then is approaching their contact base. And when they give a referral to how you can help them by you educating that individual on what you do and how you do it and how you’re doing it differently. They have the ability to identify that need in other people and therefore pass on a referral that’s extremely credible because they know you and therefore would lead back to business for the originator.

Rico [00:09:21]: You know know what I liked out of that conversation was really clear to me that you don’t have to be going to BNI necessarily or any of the other networking groups, but you should be going to somewhere. To some organization whether it’s a Business Association, a chamber, a professional association. The whole idea is we go back to consistency like social media you have to be consistent same thing with that right, you have to be at those meetings on a regular basis.

Karl [00:09:48]: We recommend three types of associations. There’s over 21 different from anywhere from alumni groups from your colleges. It could be team sport. But in any one of the things that’s being consistent and establishing and getting to learn about the people that you’re referring so that you can refer them with confidence and understand what it is that they do that can help your clients. And the last thing that she mentioned that I thought was extremely
insightful that changes the way you think about it, is the first one that speaks about price wins. In most traditional sales approaches, you’re taught to talk about value first and price later. But in referral It’s important that the person the intermediary the person that’s, that you’re talking to that’s generating referral. We call them gate openers that they have to understand what your cost structure is. They have to understand the price so they could set the expectation with the client. So lots of great, great insights from Wendy and talking about effective relationship marketing through networking.

Rico [00:10:52]: Excellent Episode.

Karl [00:10:53]: The third one was Gary Birnberg and Gary had an interesting journey in this career from working in Corporate America to franchise ownership, so he told us a little bit about how he got into franchising and was able to develop that.

Rico [00:11:10]: He went to, he originally thought well while he was in college, he thought he could do this right. He thought he went to Subway has he thought that was great. It was great franchise. He needed an investment. He and everyone told him you were going to college. What are you going to do? And he thought no, no I can handle it. Don’t worry about it, but Subways was what he thought he wanted to do essentially a franchise of that nature systematic the process was what he was interested in. So then he ended up as he got older and did some other things he ended up going back to that idea.

Karl [00:11:44]: Absolutely. And later on he invested in another sandwich franchise Which Wich and what was interesting in his story is how he started with just one and he was able to build and acquire up to seven of them at a time. And most of that time he was actually working.

Rico [00:12:01] Actually eight stores.

Karl [00:12:02] Eight stores. He was actually working for the first four before he left Corporate America and went full time into that.

Rico [00:12:11]: Right so working, he was actually working in Corporate America for, till they got the fourth store because that was the agreement he made with his wife who was his partner also I understand. Because they want to make sure that health insurance and what they’re also be risk averse. Yeah, so imagine working for corporate America and owning four of these stores now by the time we got to that fourth one, he was like I think we’re ready.

Karl [00:12:37]: Yep and be able to jump off and he followed the full journey till it’s, till its end where he successfully was able to exit all eight of the stores.

Rico [00:12:48]: Yeah, and he ended up actually when he when they got to the end of the fourth store, they opened the other four stores within seven to nine months after.

Karl [00:13:00]: And we learned when you’re looking into any business especially ones that are franchise, driving processes was really the key of the way he was able to scale so quickly so quickly. Learning how to acquire stores, learning how to run stores, learning how to manage personnel, staff, budgets, payroll. He learned all of that, that help them be very successful.

Rico [00:13:21]: Yeah, and the process allowed him a cash flow and he expanded those extra four stores at the Talon out of the eight through cash flow.

Karl [00:13:28]: Yeah he did not have to take additional loans to do that.

Rico [00:13:31]: Now and he paid off his loans also as he went because the other ones were spare loans for those stores and it was a process.

Karl [00:13:37]: Absolutely. So it shows that it can be done with a really good plan and being able to drive and follow a process. If you’re going down that path of Entrepreneurship, you don’t have to start from scratch. There’s franchises out there that can help people be their own boss, but have a support of a network. Of the business model that it’s already been proven to work.

Rico [00:14:02]: The fun part for me was when I first met him was with his first store at The Forum here in Peachtree Corners. It was the only store he had and his plan was to open one a year until he had like 10 almost and he worked his plan. I mean that was he was systematic and he worked it.

Karl [00:14:20]: Absolutely. We also had the pleasure to talk to some folks that work in the nonprofit sector over the past year. And one of our guests that we’re so thankful for was Erin Igleheart who is a program manager with the Start Me Program Atlanta associated with Emory University and several other partners whose goal and focus was bringing entrepreneurship to underserved areas of Metro Atlanta. And the being associated with the university, they had some very smart people investigating what are some of the challenges a small micro business has faced to start and be successful. And they summed it into three main components of their finding which they’ve addressed through a startup bootcamp that the program does. The first one is access to Capital. That may seem obvious, getting Capital to start a business is really important but being prepared to get that Capital whether it’s through developing a sound business plan, which they also address through delivering knowledge to these entrepreneurs. Helping them with the business plan, who to talk to, how to understand the financials of their business, is a key knowledge area that they found was a challenge. But the thing that I thought that might have been under appreciated for a lot of small business owners was the aspect of networking. The mentors that they bring to bear with the entrepreneurs creates this powerful networks. It’s not only each cohort that comes through the program. They’ve had over 200 entrepreneurs launch through the program. They’ve established a huge network between them and the mentors that continually help them grow and improve their business over time. They can boast over 75% success rate with businesses that have gone through the program, which is much higher than the average for most small businesses.

Rico [00:16:27 ]: Oh my god yeah, most small businesses failed during the first three, four years and then the majority of them do that.

Karl [00:16:34]: And when you look back as to why they probably didn’t get the right mentorship. They didn’t have people that have gone down the path and made the mistakes that they’re making to help advise them. But also those mentors help hold them accountable if they say they’re going to do something, having a sit-down with somebody who has your best interest at heart and check in on you is a powerful tool that they use as part of this Start Me Program.

Rico [00:16:58]: And you know what I like, before we got on we were reviewing what we were going to be discussing and I remembered you saying it was a bit like Shark Tank. Right because you have networking available as well. You know, and in Shark Tank, you know, all of them had money it wasn’t the money. It was really the network, the people they had, the contacts.

Karl [00:17:19]: The knowledge and the connections that they could make to the community. So a really good reminder of finding mentors that you can work with that help guide you when you’re starting up and growing your business.

Rico [00:17:34]: I say shark tank, but it really is a much more friendlier route.

Karl [00:17:40]: Yeah, absolutely and we were blessed to have some of those entrepreneurs on other episodes as well. So that was great.

Rico [00:17:49]: So the next one that we had, a guest from the restaurant industry, food industry Cliff Bramble owner of Noble Fin and Hungry Hospitality. Which is a consulting company for restaurants. And I don’t know, to me you know, there were several things. I learned quite a few things actually. Cliff is very much into the food industry, but he always he through the conversations we had over that hour we discussed how it is a business regardless. Forget about the food part of it, business is a business is a business. And what drives business what’s the biggest thing in business is labor. Is those surprises that you get so labor was a big part that he discussed on how we handle the front and the back of the house.

Karl [00:18:37]: Understanding the numbers in the business, understanding sales and marketing and how that integrates to build your Revenue stream for the business is extremely important. But a lot of people want to go into the restaurant business it’s probably the number one request that we see from buyers. They want to do restaurant. But really it’s a tough business tough industry. You can be wildly successful, but you have to be able to run it like a business know your numbers know your input costs and really know how to Market, figure out who your customer is and how to how to do a good job satisfying them.

Rico [00:19:16]: Right and he even talked about like down to the nitty-gritty, the weeds of if you’re going to buy a restaurant. You know, what’s the important part? Well to him the important
part was the amount of covers how many people actually come in. Not necessarily the sales but how much turnover of those tables. That and also discussed a little bit about retention. How do you retain employees in that environment?

Karl [00:19:39]: Absolutely. High turnover industry, but driving a culture and training and having really good systems in place to train and develop people is one of the success factors that he identify for anybody out there that’s in the restaurant or thinking of being in the restaurant industry.

Rico [00:19:55]: And even more than when it comes to you know, if you’re a manufacturer of product if the products bad you can return it right? Food, if food is bad, you can’t quite return it the same way. You either get sick maybe. And so, you know, we discussed a little bit about the romaine lettuce callbacks ever happened through all of last year.

Karl [00:20:14]: And how do you react and how do you adapt to that to the menu items and really understand your supply base to support your business?

Rico [00:20:22]: And then the last thing I think also was for competition. Different from other places because restaurants, you would think it would be other restaurants competing into somebody. But he was also saying No, no, no, I compete against also Netflix, people want to stay home.

Karl [00:20:38]: You know gaming anything that draws entertainment time away and disposable income is a competitor to you know, a restaurant especially in the fine dining space. Our next guest or episode we wanted to talk about was the Small Business Development Center SBDC associated with University of Georgia and Glenn Kruse who came by and was sharing a valuable resource to the business community that exists here. The Small Business Development Center has offices all over Georgia. They’re affiliated with the university. So Georgia State University of Georgia, Kennesaw University and many others and they provide guidance and coaching to people looking to start business inclusive of developing a plan it. So really quickly some of the lessons that we shared, the first one being around having a plan. And the number one thing that he found that people that struggled with being successful in business was a failure to plan. They did not take the time to develop one a business plan that’s inclusive of a financial plan, a sales plan. And you would think why do I need this piece of paper what I’m going out there to run a business, but it’s really the process of planning that helps you identify some of the gaps. When are you going to need cash? How much cash are you going to need to be able to run the business successfully. Also there’s a lot that goes into understanding your competitors and the SBDC has tools available to them to help you understand your demographics of an area, the market, the competition so you can build a robust plan for not only the lenders that you might need to start your business, but also potential investors.

Rico [00:22:30]: Or even involving the idea that you had because now with those armed with that information I realized wow, maybe this isn’t quite where I need to be you may be able to adjust.

Karl [00:22:40]: Absolutely. Pivoting and knowing when to pivot in your business is another critical factor of success. But if you’re not constantly scanning the environment and understanding the threats, you may miss the opportunity to make a change before it’s too late for your business. But the last point that he mentioned was all about people. Hiring the right people onboarding them and developing them. Many businesses struggle and fail when they’re not able to find and keep and retain really good, especially if you’re in a service business, if you don’t understand if you’re in a service business, it’s about the people that you probably can’t be successful in it. And really exploring in your plans how are you going to attract and retain people from a compensation standpoint, from recruiting the right people, how do you identify what those people are? But all of those things are things that anybody in business start thinking about starting a business can get help with with the SBDC that’s located. You can go online and look up the Small Business Development Center in your area and schedule a time with any one of the Consultants. The number one thing you should know about them free service for people here. It’s paid by your tax dollars and the SBA grants from the SBA the Small Business Association for a part of the US government to help provide this to drive economic developments in communities. So free service to reach out to them and get that Consulting help if you need it.

Rico [00:24:13]: So where we’re at, close to the end of our time together, but I think we wanted to hit on certainly going into 2020 what we’ve learned.

Karl [00:24:23]: Absolutely. Absolutely.

Rico [00:24:25]: So I know what I’ve learned, but do you want to start?

Karl [00:24:28]: Sure thing. One of the things that I know that I took from last year was this emergence of social media and social media marketing and incorporating into your business. And I work in a traditional industry that helps business owners exit their business and a lot of the traditional marketing methods were, you know, meeting people face-to-face and people marketing and so on. But integrating Social media into that, posting on the right platform, forming relationships with your clients and prospects. I found to be really really effective way and I can say that throughout the year seen really great success and return on that investment in time and money into building out a social media strategy. For anyone that’s thinking about dabbling in it. You can absolutely do it yourself. You could get courses on it and learn and educate yourself, but if you don’t feel you have time to do that reach out to some of the many experts in that, that’s out there including Rico who can help many people with that and just have a conversation about how they could be more effective in bringing social media into their marketing mix.

Rico [00:25:44]: So even I’ve learned a bit from our guests because you always pick up these tidbits about social media, but because I’m in that business, I’d rather skew to something else I learned that I really, you know, I sort of knew but, you know getting to know Karl better, through the show, through this past year and doing these shows and offline. I learned a little bit more about what you want to do with your business? And that everyone, you know, you start a business is you’re passionate about you want to do it. Where are you going to go with it? How you going to expand it? Those are all good things to think about but then no one really thinks about the end result. Let’s not call it the end. But where do you want to take it at some point? What’s your exit plan? Do you want to retire? Do you want to get out of it do you want to downsize a little bit from what you’re doing? And I learned from Karl quite a bit about what I should be thinking about ahead of time and also from a recent guest that we had on as well. We had Corrie Thrasher that taught us a bit about the pitfalls of selling and buying a business. So what I learned from that was pretty much, you know positioning your company because different companies that do handle differently, right? And if you’re a small business like own a family restaurant or you have a small business of consulting and you’re the person that’s running it. It’s a different value and that value extend further when you sell it if you have a magazine like I do that magazine has it that with this an asset that but if you’re doing freelance work, which is also what I do. How’s that freelance work, that gig economy if you will, how is that value as a business? If I’m gone does that mean that business goes? So I Learned a lot between you and Corrie and a few other guests.

Karl [00:27:28]: Absolutely. David Wood came in and talked about financing and how to get your financial statements in there. And if there’s one thing going into 2020 that everyone should treat themselves to is to just think about their, take a step back, get an advisor or coach or someone that’s not working for you ideally, because you want someone that can give you honest feedback. And take a critical look at your business. Look at the financials see what other people would think about. Get evaluation done for your business and find out those gaps and weaknesses sooner than later when you are planning to exit the business or when you have time to do something and make those corrections and fixes sooner on.

Rico [00:28:14]: Like anything else in life, if you don’t plan ahead you’re going to get hurt later. So selling a business does not come, oh I want to sell it in a month. It doesn’t work that way. You need to plan this out a year or two years ahead to make sure that what your business is showing. And the way it’s budgeted and all that increases the value of your business. And that’s the value I find in when I speak to Karl about things like this. He points things out that I haven’t thought about now because my mind’s not there and certainly I may not have thought about even if my mind ended up there. But you do need to clean these things out and it’s more than a month or two. We really need to look at it forever.

Karl [00:28:52]: If there’s one thing that we tried to do in 2019 with the Capitalist Sage was bringing you people that are in the trenches doing this every day. We learned from people’s failures. We’ve learned from people’s success. But our goal is to share this information with as many people as we can and just get you thinking there’s plenty of people out there that can help
you with your business. But we want to make sure you at least get some information to help you think differently about your business so you can drive those improvements in 2020.

Rico [00:29:26]: You know, and you should also look at go back to our episodes and look forward to 2020 because we have really interesting guests that we didn’t cover here necessarily. Like Lentz Pean of Food Trucks Unlimited, just talking to him and just knowing about how other businesses operate to me is exciting because you sort of pick up little things that might help you in your business. And Micole and Musa, organic farming.

Karl [00:29:53]: The organic farming, zero chemical organic farming right here in the Metro, Atlanta. How scientists, two science educated individuals built the business using proven techniques to produce higher yields of organic vegetables using non, without using chemicals or any additives to their foods and they’re building a business for the family from that.

Rico [00:30:23]: So you think of organic farming but we were able to get into the weeds, so to speak, and to the Entomology and bug aspect of it and learned quite a bit about it. Which you know, I think went beyond just knowing about organic farming also understanding people’s passions in business.

Karl [00:30:40]: And how they were able to merge that. We’ve seen that in quite a few people, Laron Walker and technology and stem education, merging that with building IOT Technologies and teaching the high schooler’s how to code and program this stuff to fill the pipeline of technical talent we’re going to need over the next 20-30 years to do this. And so many great talented people here in the community that we were able to talk to. But in 2020 we’re going to continue our journey and we’re going to continue to find and bring you more great guests that come in and talk. One of the areas that I know I’m excited to get more into is the entertainment business. We had Beth Moore an entertainment attorney attorney that came and talked to us about protecting your creative content that you create. Whether it’s music, it could be stuff that you do on YouTube, even those crazy cat videos is content that you can have copyrighted and you can get paid if you join the right association with that. And as Georgia continues to explode with film, music, even advertising industry is becoming really large here. Lots of opportunity for business people, creative people to become smarter business people and build a business around it.

Rico [00:32:02]: All the peripheral businesses that come I mean, that’s why Walking Dead that’s when we became the Hollywood East of the industry. Because you have electricians, woodworkers, prop makers.

Karl [00:32:15]: Costume designers, artists that are there. But it’s really important to figure out how to protect your content so that you can you can monetize it. So 2020 one of the things that I want to explore more and going to find more business owners that are in this entertainment. I hear I know gaming is on my list of finding some folks that are in Esport businesses that are
growing in popularity. Everything from artistic, music, creative producers. All of these businesses are just absolutely fascinating to understand the business side of that industry.

Rico [00:32:54]: So that’s one and that’s a big part of a thing I’m interested totally in that and learning a bit more about the entertainment industry. But also I think we’re going to be looking at makers as well. That’s a word phrase that’s being used for people that create, Artisans that create product within their own backyard if you will or garage or basement as it might be. And they’re creating products that are being sold on places like Etsy, online e-commerce sites, Amazon, a variety of places. It’s taking the gig economy on Acceleration because you could be making quite a bit of money and being a neighborhood that no one’s even aware that you’re there.

Karl [00:33:36]: Absolutely. I love how things come full circle from mass production assembly line and things are now becoming popular where people are building and using their talents to build things as home based businesses, but with the immersion of e-commerce and shipping and logistics, someone could make a business from their home and be quite profitable and successful. It’s one of the most popular businesses we get requests for people looking to buy business are home base e-commerce businesses. And if your maker and you’re able to make things, find creative ways to make things extremely great industry to be in and in the future. So we’re going to look to talk to some more people that are doing that as well.

Rico [00:34:21]: And if you have any suggestions, you know, feel free to first off if you’re listening to this on iTunes or any of the podcast sites, leave a review give us whatever that review might be two stars, five stars any review is a good review because this way people will be more easily find out. But feel free to suggest topics or companies or individuals that might be interesting that we could get good sage advice and be able to share that with our listeners and viewers.

Karl [00:34:53]: So as 2020 is starting off this year. We just want to thank all of our guests that have joined us on this journey and shared their wisdom. There’s more to come in 2020. We’re really excited to be able to host a podcast here at Atlanta Tech Park, a great location for not only just podcasting but just interacting with the economic engine for this part of the county Peachtree Corners from technology, to Beauty, to food all of these different types of businesses is what form this community. And so we’re just blessed to have the support of the local business Community here. All the Chamber of the Southwest Chamber of Commerce the Peachtree Corners Business Association and many others have been great partners and guests on our podcast. And we want to make sure that we are responsive to the business Community that’s here and that they have information that’s targeted for them and that can help them improve their business. So with that I’m Karl Barham with TransWorld Business Advisors of Atlanta Peachtree. Our business advisors are available to consult with you on your business, help you figure out strategies to grow, increase the value of the business. And at this time of year when you start making goals and so on, it’s a great time to chat with someone about what your plan is for your business, your exit plan, how you want to increase the value. We consult with our
business owners in the community and help them with that and if they’re ready to sell the business or ready to buy we can help them with that as well. So I can be reached at www.TWorld.com/AtlantaPeachtree or you can email me at KBarham@T world.com if we could ever help.

Rico [00:36:49]: And my name is Rico Figliolini, I do several things. I’m the publisher of Peachtree Corners magazine. Feel free to find that publication in print anywhere in the City and if you live in the city you should be getting it in your mailbox. We hit every household. Otherwise, feel free to go online at LivingInPeachtreeCorners.com and you can find our digital Edition there along with weekly postings, daily postings of things going on in this city. You’ll also find our podcast listings there, both for Capitalist Sage, Peachtree Corners Life and Prime Lunchtime with the City Manager, along with the Ed Hour which is an educational podcast that we do. And you can go MightyRockets.com, I do video projects, social media content work, anything along the digital and online area that needs to be done in a consistent fashion. I can help you there.

Karl [00:37:43]: Okay, well, I just want to thank everybody again and have a Happy New Year for everybody and thank you for joining us on this bonus episode. Thank you, of the Capitalist Sage.

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