In this episode of Capitalist Sage, Karl and Rico sit down with Betsy Corley Pickren, an executive leadership coach. They talk about the importance of investing in leadership, no matter the size or shape of the business, and how to develop structures that promote leadership development in all employees in the business. Betsy shares that developing leadership skills can come in many different forms, whether through one on one coaching, meeting with a group of like-minded entrepreneurs, or finding someone to hold you accountable.
Christ Church Players
Transcript of the podcast:
Karl [00:00 ]: 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!
Rico [00:17 ]: Hey Karl.
Karl [00:18 ]: How you doing today?
Rico [00:19 ]: Good. It’s been a great day so far.
Karl [00:20 ]: Oh, fabulous. I know we’ve got a lot of exciting stuff to talk about today, but why don’t we start with our sponsors for today’s podcast?
Rico [00:28 ]: Sure. Our biggest sponsor – our new sponsor actually – is GMC primary care Specialty Centers. They just opened a few weeks ago. They’re an offshoot of Guinnett Medical Center, and it’s a great facility. I toured the facility along with a bunch of other people during their grand opening. Let me tell you, they have imaging center right there and can do all sorts of new things that you normally would have to send out to other facilities for. And it’s brand new. And it used to be the – for those of you who know Peachtree Corners – it used to be the old Apolitos restaurant. You would never know. Absolutely gutted out – it’s beautiful.
Karl [01:04 ]: Right at the intersection of 141 and Peachtree Corners Circle.
Rico [01:09 ]: Just at the QT store. Almost next door to let’s say – Planet Smoothie. Where I go get my smoothie.
Karl [01:19 ]: Oh, fabulous. I’m glad to have them here. How about some of our other sponsors?
Rico [01:23 ]: Sure. So Prototype Prime, which is now under Curiosity Lab Peachtree Corners. It’s a sponsor to a lot of podcasts there. And they’re going to be – well, Curiosity Lab in Peachtree Corners is a big thing right now because of autonomous vehicles, the 1.7 mile track that we have and the local stuff that we do in there. And they’re gonna be an off-site demo. A demo off-site from the Smart City Atlanta Expo that’s happening in the city of Atlanta. And this is an offshoot – the first North American expo of the sort. It’s based out of Barcelona, and it’s gonna be a neat thing. It’s going to be anything you think that with Smart City, and bring it to people.
Karl [02:04 ]: Internet of things, how they use data, help enhance quality of life, how cities are becoming smarter. It’s gonna be a showcase of all those companies and technologies.
Rico [02:17 ]: Absolutely. And that’s happening September 11, 12 and 13th. You can find out more by going to our website at LivinginPeachtreeCorners.com. You’ll see a place where you can go right to that and get information and buy tickets to it if you want. So they’re one sponsor. Atlanta Tech Park – we’re doing our podcast here. So this is a great facility – they let us do this twice a month, and along with other things. And well those are the three main – we are Peachtree Corners Magazine and media sponsor for the Smart City Expo Atlanta, so.
Karl [02:48 ]: Oh, fabulous, fabulous. Well, lots of things going on, but today I want to talk to our guest – Betsy Corley Pickren, who is the president and leader of Woodfire Leadership. And she specializes in help developing and training leaders. Offering executive coaching services, training, but today, we want to talk a little about how it impacts investing in leadership can impact small business owners in the business community here in Peachtree Corners and beyond. So first, I want to maybe start this – Betsy can you introduce yourself?
Betsy [03:26 ]: Hi! I am Betsy Corley Pickren as you said, and I have had my own business for, hmm, twenty years? A good long time. And I really have a passion about leadership because leadership – leaders have so much impact on people who are around them. And they can make people’s lives hell or heaven. And so, I’d like to have a little more heaven.
Karl [03:57 ]: Oh, that’s fabulous. So I’m curious, what got you interested in focusing on this and building a business around creating and building leaders?
Betsy [04:06 ]: That’s a really good question. I – I’ll talk more about my dad later, but he – I saw him as a leader. And I kind of always got put into leadership positions, whether I wanted to or not. And then I was lucky enough to begin working with a company that really set the bar on leadership development. And just fell in love. So –
Karl [04:40 ]: Wow, fabulous. So when you see folks – I know that I talk to a lot of business leaders. And when they’re talking about their business, I’m surprised in all the things they invest in. They’ll spend in marketing, they’ll spend in inventory, they’ll spend in technology. But when I ask them how much they spend in investing in themselves and the leaders in the company, you wouldn’t be surprised to hear that they don’t spend as much time and money resources in that. Why do you think that is, and what are some of the things that can help be better business leaders if they were to make those investments?
Betsy [05:16 ]: Why, what a great question. Why don’t they? So, Dee Hock, who was the leader of Visa for a number of years, said that leaders need to spend at least 40% of their time on themselves. And I think maybe not enough leaders have read that or heard that. And sometimes, leaders are there to – because of the power. And that’s not what it’s about. I mean I really believe that leaders exist to magnify their own strengths, the strengths of those around them, and the strengths of the enterprise they serve for a common goal. And so, it’s – there’s a why. There’s a why behind why you’re a leader. And we were talking earlier about Simon Sinek. And he wrote the book, “Start with Why”, and I actually want to read a quote from him. He says, “Imagine a world when the vast majority of us wake up inspired, feel safe at work, and return home fulfilled at the end of the day, feeling as though we are contributing towards something greater than ourselves.” How does that sound?
Rico [06:37 ]: That sounds great to me.
Betsy [06:39 ]: Me too, me too.
Rico [06:41 ]: You want to feel like you’re contributing to society, to family, to a common good.
Betsy [06:49 ]: Yea. Not just a cog in the wheel that nobody pays attention to.
Karl [06:53 ]: When you think about organization businesses in general, how many times have you gone to a place of service – it could be a restaurant, it could be anything. And the folks there don’t feel like they’re terribly engaged. And they seem like they just got in there, they’re forced there. But then you counter that when you go somewhere with a great experience. They’re excited to see you. They welcome you. They’re asking you. They’re engaged. It makes a huge difference where you choose to spend your money and time and invest in business. But how is that culture created? What role does a leader have in creating that culture?
Betsy [07:26 ]: Well, the leader really – being a leader isn’t about charisma. Being a leader is about having values that you know about yourself, having a vision. Not only what you want to do, but how you want to go about it. What are your values, and what do you want other people to do in terms of those values. I worked for a company, and this was a training and development company that got me super hooked on leadership, and we had some great salespeople, we had some great, you know, production people, and they would get called out as much for their behavior toward other people as anybody else would for, say, not performing up to standard. And so – the leader just needs to have those things. A vision, a personal leadership philosophy that keeps them focused and moving in the right direction. And it’s about – a leader is somebody that somebody chooses to follow. And if people don’t choose to follow you, then you can call yourself a leader all day long – you’re not one.
Karl [08:48 ]: It’s interesting if you think about how you peel that back – I know a lot of big companies spend time investing in leadership for their management. But I think of a small company – and there’s maybe 12 employees. There’s a shift manager and and a couple of other folks in there. They bring in people and they don’t have those kind of resources to maybe invest in like a big company. What are specific things can a local business owner do with his crew of ten people to help them develop leadership there as well?
Betsy [09:25]: What can – well, we’ll just go back for a minute. I said I wanted to talk about my dad a little bit more. And he owned a tractor dealership, and he was great. I mean – that’s where I thought – I learned I thought sales and service was one word. Because it was corely sales and service. And he was great at that. My mother was the bookkeeper or CFO, so to speak. Well, you’ve got to know what people are good at doing. And bring out those strengths. If my father had been the bookkeeper, the business might have lasted for forty days instead of forty years. Because one time, I know he traded some tractor parts for a dog for me. And how you put that on the spreadsheet – I don’t know. So the first thing is to know the talents that you’ve got. And then, also, there are a lot of other small business people out there who can fill in so you’ve got contract CFOs, you’ve got leadership development people like me, coaches like me, you’ve got just a number of other people who can be kind of extended family that you bring in to make sure that everything you do has got a really good person doing it.
Karl [10:53 ]: So I wanted to pinpoint on – you’ve already said to Rico, like, are leaders born? Or are they made? I’m curious where you stand on that, and for folks – somebody that thinks, you know what I’m not a leader, I can’t be a leader, or I’m not a leader. What would you say to folks who feel they don’t have that talent?
Betsy [11:14 ]: Hmm. Well, I happen to believe that leadership happens at every level. If you’re a dad, if you’re a mom, if you’re a janitor, if you’re anybody can be an example to other people. And that is what one of the aspects of leadership. So, everybody is a leader in some way, shape or form. And some of us are probably born with more of a wish to lead. But just look at all the situations where people who’ve never wanted to have leadership, and a crisis happens, and they are right up there. And everybody’s following them.
Rico [12:00 ]: That’s funny. I’m reading “Leadership in the Time of Turbulence”. Great book, good presidents. Started with Teddy, Lincoln – Teddy Roosevelt, FDR and Johnson. All of them, different points of their lives they were not leaders. But there were parts of their lives when they had to become leaders. Obviously, those four presidents had challenges – from the Civil War to World War 2, and the struggles during the 60s, right? But I think you’re right in a way that everyone has a certain amount of leadership. It just depends where they apply it. And what they can apply it to. And I think the biggest thing is also persistence.
Betsy [12:42 ]: It is. We can all do – certainly have to have certain physical attributes, you have to have certain mental attributes. But if we really want to do something, we can. And yet it’s so much better if we do what we are kind of wired to do. And that’s one of the things that I tell my clients. It’s – I look for leaders who aspire to be good, great leaders as part of their career. That it’s not leadership just to move up, it’s not leadership for power, it can be leadership for influence. But it’s about, “I want to create other leaders. I want to really make a difference.”
Karl [13:33 ]: I always found people have these amazing different talents. It could be a sport, some people are sprinters, some people can run and they can go so fast. Through training, through coaching, through feedback and through practice, they can maximize. You and I will never be Michael Phelps, but imagine someone with his talents and dedication applying that over year over year. Remember they talked about the 10,000 hours of Malcolm Gladwell in practice. Are there things people can do to maximize their leadership? If you were to break it down to a few simple things that they could focus on to practice leadership? Any advice on where they can start?
Betsy [14:18 ]: Well, it all starts with awareness. There’s no way to change anything without awareness. And there are lots of ways to get there. You can ask people for feedback, you can take assessments – I have assessments out the wazoo that I help connect people with. And the – there’s a behavior shift model. And once you have the awareness, then it’s about deciding – okay. I want to do something about that. I want to get better at these things I’m really good at. And I want to get either better at the things I’m not so good at, or find somebody else to do them for me. And so I began to focus myself. And then, it is about repetition and – in coaching we call them structures. And I was coaching somebody yesterday, and he’s going to put something on his calendar every time he has a meeting to remind himself how he wants to be – be seen. How he wants to be in that meeting. And so, it really helps to have a coach, I have to say. Because you’ve got somebody to walk along with you. And I see myself as a coach as, like, a GPS. So Karl – you might say, you know, I want to go to New York. I say, okay, set me to New York, but on the way, you look over at Charleston and say, that’s kind of interesting. So we stop. But my job is to remind you that you want to go to New York. You can change your destination at any time. But that – it’s knowing where you’re going, being aware, making a choice, practicing getting feedback. It’s just like riding a bike, I guess.
Rico [16:19 ]: Yeah, it’s funny. You can have leadership, but if you don’t have goals, then what’s the point? So you’re setting the goals, you’re focused on the goal, and you need to get there. And you’re helping them keep on the track, not hitting the guardrails and not getting off that road.
Betsy [16:37 ]: Yeah, unless we stop and smell the roses along the way.
Rico [16:42 ]: And that’s always good anyway because you want to reenergize, right?
Betsy [16:45 ]: I know. Exactly.
Karl [16:47 ]: I remember years ago, I knew some folks that went to West Point, and West Point – some of the military academies pride themselves on developing leadership. But he described the model of how they develop leaders there. So, I don’t know if you’ve heard it before, but freshmen come in, and they’ve got a name for them, plebs or something. But they’re fully 100% dependent. they don’t know what to do, they don’t know how to put on their clothes, they don’t know how to make their beds, they don’t know what to do. And their job is to learn how to follow and listen to the older students so that, that listening – they have to perfect or master following before they can move up the leadership ladder. The second they become sophomores, they’re now independent. So they’re not – they don’t need to be told what to do for anything, but they need to become self-sufficient and learn how to lead themselves, develop themselves. When they get to their junior year, they emphasize leading. The juniors have to teach the freshmen how to do the structures. So now they’re getting their first taste of leading others and directing others and teach. And guess what happens in their senior year? What do you think happens in their senior year? Now they’re looking broader vision – they’re setting the direction, the strategy, the vision. They’re sort of – I said, they’re doing this in high schools, and then colleges, to help develop in a structured way. So when you said that part about structure somewhat, it’s interesting how folks like military academies – the military – have built this kind of structure. But I see folks can apply that into a small business. Someone starts in that first six months, they’re plebs. You teach them how to do everything, you teach them how to run the register, how to make every dish, how to do every – all the basic tasks. You help them learn how to learn from others. Maybe the next 6 months, the next year, they’re independent. And you’re getting a lot of value. Now they’re trained. That’s that part where you’re – I don’t want to train somebody. Now they’re actually productive. But then, giving them a path where you invest in them, you get them into training, you get them into other things so they can learn how to lead the next new person. And when they get far enough, they might be general manager – and for the business owner, this could be the hardest part. They could be part of that kitchen cabinet and circle that helps you figure out how to beat the competition, how to expand, how to make the business even more valuable if they build that structure in. But you don’t need 100 people to do that. You could do that with 10 people, the same type of structure.
Betsy [19:19 ]: Yeah, and what happens often is that, later, when they get to become a senior – and there’s something called 4 stages of contribution that follows that. But what happens often in the business world is, when a person gets to that third and fourth rung on that ladder, they get uncomfortable because they don’t know how to do that. Like, they know how to set the table and bus the table. They know how to do that and they’re comfortable. So they go back and work in the business, not on the business, and then wonder what happened to their business.
Rico [19:59 ]: And that’s where a coach probably comes in. Be able to analyze what they’re doing and really talk – is a life coach and business coach the same?
Betsy [20:07 ]: Uh, yeah. I’m a – I – when I started out, I called myself a life and leadership coach. And I think that’s probably still what I am, although it sounds better to say I’m an executive leadership coach. You know, it sounds – but – everything somebody does is about their life. You can’t say, okay so now you’re going to be a business person, and now you’re gonna be a regular person. I mean, you’re all the same person.
Rico [20:39 ]: It’s in the same philosophy of how you treat your family – your friends. It’s supposed to be almost the same way you treat your business.
Betsy [20:46 ]: I believe in congruity and authenticity. There are people who say, “Well I’m not like that at home.” And I think, “Well? Hmm. So who are you as a human being?” You know? So I think – certainly, our behaviors are somewhat different. I mean, I get that. But our philosophy of life and leadership and who we are – it’s a lifelong learning thing. But I don’t know how to split.
Rico [21:19 ]: Yeah, I can’t see how you can divorce them from each other. I mean, if you feel someone’s authentic and you trust what they’re doing in the company, you gain their respect. And that owner, that boss needs to discipline for some reason, that’s also a form of respect, right? Yeah. I don’t see how you can divorce the two. I mean, you have to be able to be who you are, and people will follow that. No one wants to follow a leader where they know, “He’s not doing the same thing. Or why is she probably doing – “
Karl [21:50 ]: Yeah. People can detect that immediately. It’s not consistent. And they see it as being fake and then you lose – you lose that. So, you know, when you – when we talk to business leaders and saw them and say, they made the decision they want to become better leaders. What are some of the things they can do to get started on that journey?
Betsy [22:10 ]: Hire a coach. You can always read a book, but knowledge is only awareness. There are some people who can say – okay, now I’m gonna work. They have that much will and, you know, self-control and all that. I’m not one of those people. I mean, I have a coach. And have for many years. And I was part of – you may have heard – Vistage. I was part of that for a while, where I’m with other people who are helping keep me on track. So I’m no different from anybody else.
Karl [22:47 ]: I – you know, I’ve established relationships that go back 30 plus years. People that will call and check in if I’m making important decisions in my career. So I’ll get feedback and learning and even there’s some that we’ll get together in a group and talk through different leadership. But also I think – just going out there. There are classes you can take and things you can go to that have – tell me a little about Mastermind Groups and what role they can serve business leaders.
Betsy [23:24 ]: Sure. Could I just comment on what you said first? That – yes. Training – I teach at Kennesaw State, I teach coaching skills for leaders, which by the way is a critical – a key piece for leaders now. Now I forgot what I was going to say. Okay. That’s not a good thing. Oh I know why – cause this is how you and I met, really. If you’re going to do some sort of training, make sure that you have some sort of follow-up. You have groups of people who get together after the training and talk about what we’ve done and hold each other accountable, because otherwise, it’s just like reading a book. You’re going to finish it, you’re going to close it, and it’s – so, make sure, if you’re learning, that you build in application for that learning in some sort of way. So I’m sorry – I got you off track. What was your other?
Karl [24:31 ]: No, no no. That’s absolutely key. If folks take classes in leadership and think they can go for two days and they walk out and go, it’s not gonna stick. I think, just like the athletes do, it’s about the practice. It’s about the application. And I always think of the coach for the lead athlete – there’s no way to lead an athlete without a coach. Mike Tyson had a coach, Mohammad Ali had a coach – they were great at what they were doing, but someone had to provide them with feedback. “Hey, you know what, you said you wanted to do this, or your time was six minutes, and so I’m giving you that feedback because you wanted to get the five and a half minutes.” And we drill and we train and we adapt and we learn as part of that collective. But I know people who say, “I don’t have time for that.”
Rico [25:21 ]: Accountability, right? So I know a lot of people who say they want to exercise, they want to do a mile run, they want to do their thing, but some of them, if they can afford to, really it’s not that expensive, you get a personal trainer who will show up three days a week. You know they’re coming at 8 o’clock. You know you have to get up and go do that.
Karl [25:41 ]: I fully endorse. That accountability and what those folks will do for people. But we started talking about – business owners is a lonely world. They’re at the top of their business, and they’re leading their business and often it can be really lonely. How do they get that level of accountability? They’re a leader.
Betsy [26:03 ]: Well, you mentioned earlier Masterminds, before I got you to backtrack. Group coaching, or mastermind groups, are fabulous. I mean, Henry Ford was in one, Think and Grow Rich, the follow that Napoleon Hill wrote about. Those – he interviewed these mega-billionaires, and they just did it on their own. They got to know each other, they would meet on a Saturday, and they would talk about their goals, and they would get advice from each other. And they kind of became their own personal board of directors. And so when you have a mastermind or group, they’re people with similar in some ways, but not competitors, and they are invested in each other’s success as much as they are in their own success. And they learn from each other. And they give to each other. It’s a give and take. Gotta be able to accept from others, positive feedback.
Rico [27:23 ]: Opportunities for improvement.
Betsy [27:28 ]: Opportunities for development feedback. And ideas. You don’t need to do the ideas, you do need to listen to them. And I just think that, the other thing that that does for a small business owner is, it makes them take the time. I don’t think small business owners have the time not to do something like that. I mean, I look at myself – I can get very distracted by this, that and the other. And if I didn’t have somebody to say, “Well I thought you wanted to focus on this.” Then, I – you know, there’s so much in life to be excited about and interested in. But if w’ere gonna go someplace, we have to kind of, go there. And so, I love that kind of idea.
Karl [28:21 ]: That’s fabulous. To create that environment here where folks can come together and do that. I know next week, I’m heading out to Charlotte for a day to meet with the mastermind group for us. There are other people who do the same thing that I do from the Southeast, and we all meet together and talk about things that are common and we’ll learn from each other. And we do that about once a quarter to get together and figure out ways to serve our clients better, how to become better, challenge ourselves. But we have people that are walking the walk that we’re walking in different ways. The best people to keep you accountable are folks that really know what you’re doing every day and can relate that.
Betsy [29:03 ]: That’s like the coaching circle that I’m a part of. We coach each other so that we always have a coach. And we rotate. And then we bring in other coaches. I’ve been a coach for almost 20 years. So I can say, you know, I’m really good. Well – yes and it’s easy to slip. And it’s easy to get stale. So we get feedback from other coaches on our coaching. And I think that really helps keep me at the top of our game.
Karl [29:40 ]: That’s fabulous. Well, I’ll tell you – when it comes to leadership, it’s always something we can talk to – talk about forever because it’s an important topic, and we definitely want to continue this dialogue. But, I wanted to at least ask, what do you have going on? What do you have going on in the next weeks and months that might be of interest to folks?
Betsy [30:03 ]: Okay. Well in addition to managing my one on one executive coaching business with larger companies, I’m also teaching a course in applied managerial coaching at – through Kennesaw State University Executive Education. And you can go online there and find out about it. And I believe this one’s going to be held in Sandy Springs. You don’t have to go all the way to Kennesaw for that. So that’s one thing. I’m really – we were talking about Masterminds, and I’m really excited about two that I’m starting this fall. One is for brand new, baby business owners. And to start out right. And to really be able to get the excitement about the business but also the direction with another group of people. And then also one for people who’ve been in business a little bit longer and maybe have more employees. And so that will start in this fall. It’s six months, at the end of that we’ll decide if we want to keep going or what we want to do with it. And in addition to that, they all get this wonderful back room kind of information about marketing and all the stuff that you have to do to keep your business moving and growing. And it’s fabulous. So that’s just and added attraction.
Karl [31:43 ]: So that’s starting out this fall?
Betsy [31:45 ]: It is.
Rico [31:47 ]: Did you want to give a link to a website? We’ll put this in the notes – in the podcast show notes. But if you want to – I think if you go on LinkedIn and search for Betsy Corvey, we’ll find you. Is there another website – somewhere else, or a phone number we can reach you at?
Betsy [32:05 ]: My office number is 770-263-7736. And my email is email@example.com. Keep it as simple as possible.
Karl [32:20 ]: Excellent. And is there another – you’ve got one of those for baby entrepreneurs. Do you have another group that’s forming as well?
Betsy [32:29 ]: Yeah. One is for new business owners and one is for people who’ve been in business for longer.
Karl [32:34 ]: Perfect, perfect, perfect.
Betsy [32:36 ]: I do have one other thing. Do we have time? This is just personal. So I dabble in acting a little bit, and I’ll be playing Ms. Murble on the radio show called “On the Air” by Christ Church Players. This Saturday at 7 pm – that’s August 24th. And it’s a hoot.
Karl [32:59 ]: Oh, fabulous. Where is the church located?
Betsy [33:01 ]: It’s on 400 Holcomb Bridge Rd. in Norcross. And you may still be able to buy tickets for $10 a piece by calling the office, Beth Holland, at 770-447-1166.
Karl [33:20 ]: Fabulous.
Betsy [33:21 ]: Or ordering from the website, which is www.CCNorcross.org. And we have such a good time putting this on, and you’ll see the Andrew sisters, and you’ll see – you’ll see the ladies from the Beauty Barn.
Karl [33:39 ]: Fabulous. Well it’s something to do for this weekend for folks that want to check out a cool play and community theatre and small theater here locally. I want to thank you very much for being a guest today and sharing some of your insights about leadership. I know it’s something that I emphasize to business owners to – not to focus on the marketing and so on. But when I go in there and I get a sense of the culture, when they talk about the value of a business, for instance – that matters. We want to buy well trained leaders, they retain people, they help with retention and so on. And that’s really important for folks to focus on. I want to thank Atlanta Tech Park for hosting the Capitalist Sage podcast. It’s a great place to check out here in Peachtree Corners. Atlanta Tech Park – if you’re starting a business, this environment allows you to access other people. So if you want to get feedback, it brings together a lot of different business leaders, so just in the hallways you’ll bump into other people. And that’s fabulous. So, Rico, what about you? Any other events coming up?
Rico [34:50 ]: Well, we’re going to a fundraiser tonight for the Peachtree Business Corners Association. They’re doing the Castaway, raising money for three different –
Karl [34:58 ]: At Prototype Prime, which is just down the road here. That’s tonight. 5:30 tonight.
Rico [35:04 ]: I’ve been doing silent auction. People keep trying to beat me out there on top of these five projects. But I’ve been doing a bit of that right now, just trying to help out a good cause I think. Because they’re raising money for Duke and for Norcross Proper ministries, and –
Karl [35:27 ]: That’s right, those three.
Rico [35:30 ]: You know, if you want to reach out to me for what I do sometimes, we have creative services for a group of newspapers and publisher of Peachtree Corners Magazine. I do social media marketing content, videography – just finished some product videos recently, working on website graphics now for a management firm. So you can visit MightyRockets.com or find Rico Figliolini, if you can spell that out, on LinkedIn and just let me know that you’ve heard this and I’ll accept a connection. Because otherwise –
Karl [36:05 ]: Fabulous. And I’m Karl Barham with Transworld Business Advisors. We help consult with business owners, and we’re just trying to help maximize the value of their business, become better business leaders out there, and when they’re ready to do something else, we can help them with that too. So, I can be reached at KBarham@tworld.com. Or you can go to www.tworld.com/atlantapeachtree. If you want to become a business owner or business leader, lots of opportunities available to you there. Give us a call, and we’d be glad to help you out with that. But thank you very much, Betsy, for joining us today.
Betsy [36:40 ]: And thank you for having me. I really enjoyed it. It was a very stimulating conversation.
Karl [36:44 ]: Fabulous. We’ve got more coming up in the weeks to come, so stay tuned to the Capitalist Sage.
Rico [36:50 ]: And find more stuff on LivinginPeachtreeCorners.com
Karl [36:54 ]: And we’d like to thank our director, Kinsey.
Rico [36:59 ]: Kinsey Figliolini.
Karl [37:02 ]: For doing a fabulous job in helping us with podcast every week. Thank you. Alright, thank you everyone, and have a great day.
CPA Firm Celebrates Opening of its new Peachtree Corners Office
–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
Capitalist Sage: Building a Brick n Mortar Retail Business Based on Healthy Living [Podcast]
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.
“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
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.
Best Business Tools and Tips Gathered from 12 Capitalist Sage Episodes [Podcast]
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
Lines are linked to the individual episodes
[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
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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- CPA Firm Celebrates Opening of its new Peachtree Corners Office
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- City Receives ARC Green Communities Certification
- Rabbi Yossi Lerman, talking about Chabad of Gwinnett, Community Outreach and his New Book
- Watch for U.S. Census Invitation in the Mail