Business
Learn how to maximize company health benefits while minimizing cost [Podcast]
Published
3 years agoon
Health Insurance, for small business owners as well as individuals, can be difficult to navigate. There are tons of options in the market and outside of it, so where do you start? Our guest on this episode of the Capitalist Sage, is Erica Dumpel, founder of CDA, Inc., an insurance solution provider that helps both individuals and small businesses. She’s got over 40 years of experience in the healthcare insurance industry and she’s here to share some tips and information on how to make better decisions and start asking the right questions of your insurance providers.
With you hosts Karl Barham and Rico Figliolini
Resources:
CDA Inc. Website: http://cdainc.net
Erica’s Email: Erica@CDAINC.net
Business Phone: (770) 449-7369
Timestamp:
[00:00:30] – Intro
[00:02:11] – About Erica and Her Business
[00:02:58] – Group Coverage and How It Changes
[00:09:48] – Differences in Coverage Across the Country
[00:11:29] – The Affordable Care Act
[00:14:18] – How Employers are Handling Insurance
[00:17:18] – HMO vs. PPO
[00:19:15] – Physicians Outside of Networks
“If you sit down with a coffee cup on a Saturday morning and a yellow pad, and you go back and say, okay, last year, what did we use? What did we do? Pull up whatever checkbooks, credit cards, EOBs, whatever you have. Go back a year earlier, if it was different. Look forward. And I’ve told everybody, please ask your doctor what is on the horizon… We are saving people all kinds of money with a little bit of homework.”
Erica Dumpel
Podcast Transcript
[00:00:30] Karl: Welcome to the Capitalist Sage Podcast. We’re here to bring you advice and tips from seasoned pros and experts to help you improve your business. I’m Karl Barham with Transworld Business Advisors, and my co-host is Rico Figliolini with Mighty Rockets, Digital Marketing, and the publisher of the Peachtree Corners Magazine. Hey Rico, how are you doing today?
[00:00:47] Rico: Good Karl. I hope you’re well.
[00:00:49] Karl: I’m doing very well. We’ve got a rainy day out there today. It’s fall, it’s finally here. And why don’t you introduce our sponsor for today?
[00:00:59] Rico: Sure. Peachtree Corners Magazine, which we just put out our latest issue, is the sponsor of this podcast. Along with Peachtree Corners Life and Prime Lunchtime with the City Manager. So you can check us out on LivinginPeachtreeCorners.com or check out the Capitalist Sage website at TheCapitalistSage.com as well.
[00:01:18] Karl: Excellent. Well, today we are going to talk about health insurance and various options, especially for small business owners and individuals that are trying to navigate all these options in the market or with other plans. Today’s guest is Erica Dumpel. She is the founder of CDA, Inc., an insurance solution provider that helps both individuals and small businesses. She’s got over 40 years of experience in the healthcare insurance industry. And she’s here today to share some tips and information so that people that have to make decisions over the next you know, 90 odd days are informed with various options and at least start to asking the right questions of your insurance providers and the folks that help you with that. Hi Erica, how are you doing today?
[00:02:08] Erica: I am doing great. Thank you so much for inviting me.
[00:02:11] Karl: Oh, it’s my pleasure, my pleasure. Why don’t we jump right in and you share a little bit about yourself and what you do, and tell us a little bit about your business?
[00:02:19] Erica: We are a small business in Norcross, Georgia. We are a party of six, with a couple of dogs as extras, our security crew. Since 1975, we have had an agency that focuses on small companies, individuals, and seniors. So we work primarily with companies of less than 50 employees. Where sometimes individual products are appropriate, sometimes the group products are appropriate. And then we layer in there, all of the issues related to Medicare, because we have an increasing senior population that is continuing to work. So that has become an extra layer of conversation.
[00:02:58] Karl: Oh wow. I know that everyone this past 18 plus months, everyone’s health has become a critical point of discussion in family. And there are people that may not have had health insurance before, or had less health insurance, that are probably looking at the future differently than they have in the past. And so why don’t we start off with just talking about when you see individuals and small businesses, just high level, what are some of the options they have if they want to get better health insurance and healthcare?
[00:03:30] Erica: Let’s start with the groups, okay? So whether you are two people or 49 people, you are in a specific category called small group. You can do the guaranteed issue, affordable care act plans, which means they are cookie cutter. They are predetermined. The rates are the same, whether you are healthy or sick, whatever industry you are in. It’s a great starting point. Especially if someone has some medical issues in their group. If on the other hand, that same group of people can answer medical questions positively. There is an improvement in rates by going into medically underwritten coverage. The next level beyond that is, if you can do that and you can qualify for one of the programs that gives you an opportunity to get back any claims dollars that you haven’t used, that becomes even more attractive. And then there’s some other layers beyond that. But what we are finding now, and we have found it, the pendulum swings back and forth. What happens is, a couple of years ago, group rates were significantly less expensive than individual rates. Well, the pendulum has swung. And in the state of Georgia, individual rates are swinging more and more cost-effectively away from group. So all of a sudden we are talking to our employers, whether they are 49 or whether they are two and saying, does it make sense to unbundle the group product and look at an individual coverage, HRA? An ICHRA, you may have heard of that, or a QSEHRA is another one that’s out there. Does that make sense? Number one. Number two, does that get you away from some of the compliance issues? You put in a medical group plan and you have responsibilities that someone may not tell you about, or you may not be aware of how important this is. The penalties can be $110 a day times the number of employees, times the number of days since the infraction. These are real numbers. So we look at it from that side, then with some of our clients where some of the incomes are lower, and we’re talking the nonprofits and some of the nursery schools. What if we look at completely unbundling it? What happens if we help these people look at marketplace policies? Where suddenly now we have subsidies, which means we are able to reduce premiums based on income. If the incomes are low enough, you get that plus you get an improvement to a lower deductible, a lower out of pocket. And the employer rather than funding, or having to fund a portion of it, simply steps away. And says, Erica and her crew or whoever the broker is, is going to come in is going to do the guidance. Is going to do the education, is going to help with the enrollment. We are getting out of the group business right now because it is more cost-effective, it is better coverage for our employees. So that in a nutshell is what’s going on right now. And it is a busy time.
[00:06:22] Karl: Let me ask you some questions to see if I understand this correctly. If I’m an employer that have, maybe relatively low earning employees in my plan, and I want to offer some form of health coverage for them. Can you describe the name of that? The last one that you mentioned. And am I understanding it right where they can opt in? I can offer the plan, but I’m not required to contribute into it?
[00:06:50] Erica: You are not offering the plan, you are stepping away. You’re saying I have historically paid X dollars. I paid 200, $300 a month for everybody’s coverage. We either cannot afford to do that anymore. With COVID that has been a very common comment. Or we find that it’s not as cost effective. We have in particular a daycare center, the employee premium is going from four 40 to $480 a month for a $6,700 deductible. Okay? These folks are making very low income. If we take the employer out of the picture and say, we are dismantling the group. Okay, you are not going to pay anything. You are simply going to do steerage. We take the employees to the marketplace and determine as an example, Rico, you’ve got this age, this zip code, these doctors, these drugs, these family members. These plans make the most sense for you. Karl, you’re in a different zip code. You’ve got different needs. Everybody picks what they want. And it may be, Rico, you need a high deductible health plan. You don’t use this stuff much. Karl, you may have young kids running around. You may need co-pays. I don’t know. But you can finally fit the right product to the person instead of, and I’ve said for years, if I do my job right on a group product, everybody’s unhappy because I have to find the average. So here we finally have the opportunity to get the right fit for the employee.
[00:08:14] Karl: What changed to make that happen?
[00:08:16] Erica: It was the marketplace subsidies many years ago. Then those became less attractive. And now with the COVID, especially in the Atlanta market, we have more people looking for individual health coverage. We have carriers who’ve been here now, six carriers who have been here for a couple of years with good numbers. Good results. Four more carriers are coming into town and these are not small carriers. Aetna is coming in under the CVS banner. United Healthcare is coming in. Friday Health Plans is coming in from Colorado, they’re a good player. And Bright Health Plans is coming in, they’re already in North Carolina. So there’s an expansion of opportunity. But the biggest thing, so we focus on premiums, obviously the cost. We focus on the benefits, because if I can get you a lower deductible for the same or less money than you were paying before, you win. But the biggest change this year has been, these plans started as skinny HMO’s. So the reimbursement rate through the providers was very low. So doctors said, we’re not playing this game. We can’t afford to do that. So each of the plans had one or two hospital networks. So all of a sudden, I don’t know if you’ve noticed, but a lot of doctor practices are selling out to hospital groups. The Laureate Group is now owned by someone else. So everybody’s being bought and the Piedmont Clinic is expanding and magically those are all now participating providers under the hospital system. So our network has blossomed. That’s been our concern, is if I can’t find you the right doctor, then everything else is meaningless.
[00:09:48] Rico: Doesn’t it get a little, I remember when the ACA came through. There were, I think only three, insurance companies in the state of Georgia at one point. Because they didn’t want to participate. They actually left. I forget if it was United Health Care, one of them decided, that’s it I’m not doing it anymore. So now you’re saying that, I mean, most people that are, have gone through the system, north of 50 years old, figured that group insurance would be cheaper. Because you’re taking advantage and leveraging people. But what you’re saying is that’s not the case anymore. That I can go out, buy my own individual insurance. Yes, customize it to me, but it would still be competitive in the marketplace. Even if I don’t have a group behind it.
[00:10:33] Erica: It depends where you are in the country. And I found this wonderful map that goes from dark blue to dark brown. And the dark blue is where the group products are more competitive. And the dark brown is where the individual is. So if you’re in Texas, it’s this shade of blue behind me, okay. Don’t go looking for individual contracts there. The Savannah area, Macon and south, is a dark tan. The Atlanta market is a gray going into a nice shade of tan telling us that right now, this is the place to be. You’ve got to be fleet of foot. You guys are paying health insurance premiums, this stuff is heinously expensive. You know, we spend more time pricing our groceries than we do our health insurance. And how much does this stuff cost us to use? That’s the other part. It’s great, I have a $6,700 deduction. That’s like having no insurance for most of America. That’s a problem.
[00:11:22] Rico: Yeah. And especially if you don’t have copay or you’re paying per doctor visit and stuff like that. Yeah. I could see that.
[00:11:29] Karl: So I’m going to take this moment to re-introduce Erica Dumpel with CDA Inc. Health Insurance. Helping people find health insurance solutions. I want to kind of start back and maybe you could help me with the history. When Obamacare, which the marketplace, these terms we’re using them interchangeably. When that became available early on, I know there were fewer options of insurance. People were unsure about it. And they also, to be able to participate, there were certain requirements that had to be met to qualify for a marketplace plan. Are you saying now that the marketplace, there’s more plans available in the marketplace and you can customize them to yourself, but they still meet those initial requirements?
[00:12:17] Erica: I’ve done this for 46 years. So we were back to the hospital surgical days, before there even were PPOs and networks. What happened when the Affordable Care Act came in was, a bunch of companies got very excited and said, oh, this is a great opportunity. And so they came into the market. The Humanas, the Aetnas, the United Healthcare. They all jumped in. The Affordable Care Act, qualified plans had to meet certain requirements. They had to have the federally mandated wellness and preventive guidelines. So there are all kinds of little things that were required. What happened was, you could qualify for a marketplace plan or you could qualify for an ACA plan, period. I mean, you were buying a cookie cutter plan from originally 6, 7, 8 companies. You would qualify for a subsidy based on income. So they look at the family size, they look at the income and they say that your premium cannot exceed X percentage of your income. If you are between 250 and 400% of the federal poverty level. There were different buy downs on and on. Fast forward to the COVID issue. The government realized we had a whole bunch of people running around with no insurance because they couldn’t afford it. So not only did there appear or does there appear to have been an increase in the subsidy amount that people are getting, but where everything seemed to stop at 400% of the federal poverty level, now it’s going beyond that. If you are above 400%, you are not going to have as big a help. But you’re still going to have some help, if the premiums exceed a certain percentage of your income. So it’s an effort by the government, in my opinion, to get as many people covered as possible. The more people we have who are not showing up at emergency rooms or at hospitals without a negotiated network, the less the rest of us are going to be paying for their costs that are being written off and passed onto the rest of us.
[00:14:18] Karl: Got it. So in the scenario that you described where employers don’t offer group plans, is it the idea that they can offer them some kind of cash bonus credit or something as they choose their own to help them offset their costs? What do you see employers doing? Or are they just stepping away from it completely?
[00:14:37] Erica: Many employers, I suspect are just going to step away completely. Our clients are not like that. Our clients are taking those dollars and saying, okay, rainy day. Because in two years, this all may shift the other way. So let’s kind of bank that for the moment. But let’s look at things that individuals cannot purchase cost effectively. Dental, vision, disability products. You cannot buy a cost-effective disability product. But on a group basis, it’s pennies. Life insurance, cancer, accident. All of those workplace products become an uninteresting thing. In some cases, some of our employers are saying we are not allowed to pay for the health insurance, but we can bump. This guy has been with me for 15 years, I’d like to give him $300 a month. This fellow is brand new, I’d like to give him a hundred dollars a month. I’m just going to raise the salary, and make it clear to them that it is because of this. At some point, we may need to take this money back, if we go back into the group business. Please don’t forget why you’re getting this money. Because that’s very easy to forget, unfortunately. A lot of companies right now are fighting to attract and retain their employees. So anything that improves a situation, maybe saves a little money for the employer for a rainy day. Maybe allows, I don’t know, a bigger Thanksgiving dinner or whatever. I don’t know. There are all kinds of things that can be done with those dollars.
[00:16:02] Rico: There’s a friend of mine. His company provides group insurance. But he’s also told his individual employees, if you don’t want to be on this group insurance, this agent that I use, this company to use, can provide options for other insurance that you can purchase separately. Now he’s not bumping salaries per se to cover that, but he’s giving options. Because he’s saying you may be able on your own to get it cheaper than what I’m able to give to you as a group. Because like you said, everyone’s a little different, right? It could be a 25 year old working for him versus a 40 year old with two kids.
[00:16:39] Erica: The thing to be careful of is, when the employer says, go work with this broker and go get a subsidy. Okay? So we have to be very careful. One of the kick outs is if you are eligible for coverage under a group plan through your employer or any other employer, to whom you are affiliated, spouse as an example, you cannot have a subsidy. And what’s happened is that people were not told that or are gaming the system. At some point, they’re going to get caught on that. And there will be certainly a return of that money. Certainly there’ll be some kind of penalty. Right now, not. But in the future, there’s going to be some kind of penalty for that.
[00:17:18] Karl: So I’ve got another question about the, in Georgia locally here, the options in the marketplace, ACA. Most of them in 2020, I remember seeing something. Over the last several years, they’ve mostly been HMO options. I don’t know if there was many PPOs and then there might’ve been a few HSA, high deductible HSA plans. In this coming, do you have any insight of is there any change in options for folks? And just generally your thoughts on the pros and cons of HMOs versus PPOs when people are trying to select what’s right for their particular situation.
[00:17:52] Erica: Everything on the individual market is an HMO. So that simply means that unless you have a life or limb threatening emergency, you need to stay in your network. And generally it is a hospital driven network because a carrier will have a relationship or a contract with North Side and Emory, as an example. So we do not have PPOs in this market and we have not in a very long time. There were point of service plans for awhile. They do not exist on the individual side right now. I don’t see them coming back. The big risk with the point of service that people, I don’t think really understand, is if I go to a non-participating provider. Yes, I have a separate deductible and yes, I have a higher co-insurance amount. I see that. What I don’t see is, what the accepted rate, the usual and customary, the negotiated, whatever you want to call it is. So if I go to a non-participating provider and that doctor runs up a thousand dollar bill, and my plan is going to pay 60% and I’m going to pay 40%. It’s not necessarily of that thousand dollars. If a participating provider would have accepted $150, I will get 60% of the 150. The rest of it is all on me. So that’s the big concern with the point of service plans.
[00:19:15] Rico: Is that because when you get explanation of benefits, the doctor’s bill is $1,500, but the contracted or agreed upon by the insurance could be a thousand dollars. And by the way, we’ll pay 60% of that. And you’re responsible for the other 40 of that discounted rates.
[00:19:31] Erica: That’s if you’re in network. If you go out of network, you now get a $10,000 bill negotiated down. And the in network would have paid, would have negotiated a thousand, but you’re getting 600 on a $10,000 bill. That’s the trick. And that’s where people get caught.
[00:19:49] Rico: Yeah. My daughter was in Berry college. She got hurt. She fell off a horse, equestrian rider. Had to go to Rome’s emergency hospital room out of network. I mean, had to go. That was the only hospital in the whole place. And then we get a bill like a month later, I think it was. And it was just horrendous. I mean, nothing happened with her. She just needed a scan to make sure everything was okay. But yeah, it was not good.
[00:20:13] Erica: But it should have been in network because it was life or limb threatening. So was it coded properly? I just joyfully walk into the Rome hospital cause I happened to be there, versus I just fell off a horse. That’s a whole different feeling, so that should have been treated in network, but that brings us to a whole different issue. There are, in the participating hospitals, physicians primarily radiologist, pathologist, and anesthesiologists, who are not participating. And those are the surprise bills. You may have had a surprise bill. That’s what all the legislation is discussing now, because what are you supposed to do? You can’t ask? I don’t know who’s the anesthesiologist, you know, when I’m getting my head cut open. I don’t know. So that’s going to be a real interesting discussion
[00:21:02] Rico: Because they’re individual like subcontract. This is the way I looked it. The hospitals, the shell, they like the hair salons. They have a chair and they need to make money. And that’s what they’re doing. And you’re right. And I think that was part of that issue was the, it was that part of it that really got us.
[00:21:17] Karl: If I could ask you then, what do people do about that? If you need to go for a procedure for something, are you supposed to ask? What’s best practice? Ask, is everybody that’s providing medical care to you during your surgery and post-surgery in this plan? Or how do ordinary people avoid getting those surprises?
[00:21:39] Erica: Most of it when you pre-certify a surgery, and if it’s an emergency obviously it’s a whole different story. But if I pre-certify a surgery, I’m going to the insurance company and saying, I’m having this done. And checking is the surgeon in, is the assistant surgeon? Because that’s where the problem is, the assistant surgeon. Is the hospital? You can’t really check the anesthesiologist. So that’s a big problem. But I have one client who delivered a baby. And it was about a month or so after a friend of hers that delivered a baby. And the husband took it upon himself to not have the same mistake that their friends had. He stood at the door, the entry to her room, and everybody who walked in, he asked, are you a participating provider? Because his, their friends had gotten hosed. Because every time a doctor sticks his or her head in, cha-ching, there’s a bill. So that’s the extreme, but they were so proud of themselves because they had no surprise bills.
[00:22:33] Karl: That’s fabulous. I could see someone making a shirt for that as they come in and have people sign in. I’m pretty sure that’s not how healthcare is supposed to be for most people. That’s the world that we live in. If I can come back to when you look at the options, you had mentioned new providers coming in? I don’t remember who was in last year, but there were, maybe there were more than the year before. Are there more options coming in this, do you have any insight into that yet?
[00:23:02] Erica: We had the core six, which was Ambetter, CareSource, Anthem Blue Cross, Kaiser. I’m blanking out. Oscar and somebody else. This year being added in, oh, Allied. This year, being added in are United Healthcare, Aetna as CVS. I don’t know who bought who, but they’re under CVS now. Bright Health Plans, and Friday Health Plans.
[00:23:24] Karl: Now, can I ask a question? How do people navigate, they change jobs or they move or change. They have a doctor that they like that’s in one plan. The kids have another doctor in another plan. Everyone has doctors. Either they’re dealing with chronic stuff or things that have been going on for awhile, and then they have to change insurance providers with different groups of these groups. How do people, how do you suggest people navigate that?
[00:23:54] Erica: It’s a difficult thing, especially when we have, call it skinny networks or call it limited doctors lists. In the old days, if you went from an employer plan with Aetna to an employer plan with Humana. Yeah, it was the same doctors. It was no big deal. What we’re finding now is if I’m in a plan that has a Piedmont base, it’s going to be a different set of doctors than a North Side base. So you have to be oh so careful. If someone is in the middle of something, very extensive cancer, heart condition, whatever. Many of the plans will allow that particular problem to finish with the existing doctor, as long as there’s notification. But then you do have to switch from one provider to another. And that’s a problem. So this year I’m with this pediatric group and the next year I’m with that pediatric group. And the lock-in to a doctor is a real problem. I got lucky. I found a doctor who takes everything and it’s just an incredibly wonderful old fashioned doctor. But when you’re in these practices that sell to or sell out to a hospital chain, they’re only going to be in one hospital. It’s a system. That is going to be a big problem.
[00:25:01] Karl: Got it. The other thing is in, when they’re looking at it, the different levels, gold and platinum and silver and blue and all the different levels that people have. Any thoughts on, differences between? Is it just about the dollars? Are they really worth that being distinct from each other?
[00:25:19] Erica: It depends on very specifically on what your needs are going to be for the next year. So a gold plan is going to have a higher reimbursement on your expenses than a silver or bronze or whatever. So those actuarial levels were all calculated. If you qualify for subsidy, start by looking in the silver plans. Because that’s where you may get your best bang for your buck. If you are below a certain level of the poverty level, you get that improvement in benefits, is what I call it. They have some other term, but your premium comes down. You’re out of pocket comes down, potentially. If you are very young and you never use this stuff, and there’s a young woman who called me and we’re working on her stuff right now as a Guinea pig, we have the opportunity to put in a catastrophic policy. And the thing is going to have an $8,500 deductible. This child is 26 years old, but she’ll have all of her preventative stuff covered and three primary care office visits. She doesn’t have anything. This is perfect. And the premium is $206 a month. She can afford that at that age. If I have a bunch of kids running around with antibiotics and tubes in their ears and constant this and that, I’m going to need to get a richer plan. But if you sit down with a coffee cup on a Saturday morning and a yellow pad, and you go back and say, okay, last year, what did we use? What did we do? Pull up whatever checkbooks, credit cards, EOBs, whatever you have. Lineup all the people in your family and figure out who did what. Go back a year earlier, if it was different. Look forward. And I’ve told everybody, please ask your doctor what is on the horizon. Sometimes people are just in denial, but if I’m carrying a lot of weight and I have blood pressure problems and I’m having trouble losing that weight, I’d better be aware that there’s something on the horizon for me. If I have diabetes and I don’t have it under control, what is the next level of insulin I’m going to? What does that cost? Nevermind, what can I do to push the time backwards? Bring it down to scale, but you need to be aware of how much you use it. The advantage is every year you can make a change. We are no longer medically underwritten. So the fact that you do get sick, next year, go ahead and change. And same thing with the Medicare folks, with their drug plans, oh my gosh. They need to every single year, look at their drug list and compare it in terms of what their plan is this year to what it could be next year. We are saving people all kinds of money with a little bit of homework.
[00:27:46] Rico: I mean, some insurance companies don’t want to cover certain medications. They might cover the generic. They might decide to cover the brand, but not the generic. I’ve seen that. I’m an individual business owner, right? Just me. I don’t have, I have 1099 employees, if you will. They’re subcontractors, freelancers and stuff. I would be looking at an individual policy then, versus a company policy or group policy, because there’s just me. So no different than anyone else that would be looking for themselves, pretty much. The way it used to be.
[00:28:16] Karl: What about outside of the marketplace? Who would you recommend look outside the marketplace? I understand if you have pre-existing conditions and so on, but when is that a good option for individuals, small business owners?
[00:28:31] Erica: The marketplace has all 10 carriers. In the Atlanta market, okay? Has a series of products with a pricing structure. If you are going to look for a subsidy, you have to enroll through that and get your subsidy there. On the other hand, if an employer is putting in an ICHRA, in individual coverage HRA, where they are more involved and they’re saying no, no, we still want to manage this. We just want everybody to have their own choice. There we have to be careful because standing alongside the 10 carrier marketplace plans, are 10 carrier non marketplace plans. So they’re going to be usually a little bit richer, a little bit less expensive because you can’t get the subsidy on it. But the trick now is if I put in an ICHRA, and I want my employees to be able to pre-tax their portion of the premium because now I’m paying a part of it, I have to make sure that the decisions and choices are made off the non marketplace policies. A lot of people don’t know that I’m just waiting to see what blows up next year on this, because they’re going to say Johnny went over to the marketplace and they signed up and it looks the same as off marketplace. Different coding, different rules. So it’s a little bit more complex than people realize, but the difference between the two is marginal. But it could be that the non marketplace plans could be a little richer and a little less expensive. They were this year for some carriers.
[00:29:56] Karl: So if you could share some of the dates that are coming up, I know enrollment periods are starting. Can you highlight some of the key dates people should pay attention to?
[00:30:04] Erica: Medicare open enrollment, which is for Medicare Part D Drug Plans and Medicare C, Medicare Advantage Plans, October 15th through December 7th. Unless you have a qualifying event, which means you’ve lost coverage or something else, that is your only window for a January one effective date. And you are locked in for 12 months, essentially. There are some parameters, but consider you are locked in for 12 months. The individual marketplace starts November one, next Monday. And for everybody who enrolls between Monday and the 15th of December, they will have a January one effective date. And that’s where it stopped last year. This year, the government is expanding it an extra 30 days going to January 15 for a February one effective date.
[00:30:51] Karl: Got it. Got it.
[00:30:51] Erica: Those are your key things. For many people who have group plans that seem to enroll, or it seemed to renew January one, which is a large proportion of the United States. Right about now is when everybody’s being handed their open enrollment packets and being told, make your decisions. So again, doing the little exercise, getting the yellow pads, sitting down and figuring out how do we use this stuff? In the past, you would want to get the richest plan you possibly could, because if you got sick, you could not make a change. Those days are gone. So now, what size shoe do I need this year? What size shoe do I need next year? And what size shoe did I have last year? So we really need to start paying attention to how we spend our money, premium wise and claims wise.
[00:31:36] Karl: Wow. Those dates are coming up quickly. But that’s some good tips as far as starting to look at your past spend and asking the questions of what your future spend may look like depending on your family situation, there’s pregnancies or dealing with knee surgeries or back surgeries and things of that nature. It’s the right time to make those decisions. I know there’s a lot more we can cover and talk about. And I’d love to have you back again and we can talk some more about different changes as things evolve. But if someone wanted to reach out to contact you, what’s the best way to reach Erica?
[00:32:11] Erica: Easiest, probably is my email. It’s Erica, Erica@CDAINC.net. And the office phone number is (770) 449-7369. There are six of us here, support staff and sales reps. Anybody can get the conversation started, whether it’s group or individual or Medicare, it doesn’t matter. We’re happy to help any way we can.
[00:32:37] Karl: Well, excellent. Well, it’s the fall season and going to fourth quarter, which I could imagine is a, busy time for you. Do you have anything coming up? What do you got keeping you busy this next few months?
[00:32:47] Erica: Exactly what I just discussed. Seeing a lot of clients and a number of folks who have been referred to us are coming with questions. Because there’s a lot to digest this year. More than in prior years, there are a lot of options. People really need to take a peek at what their options are because this stuff is incredibly expensive.
[00:33:08] Karl: I’d also like to add a shout out to the Southwest Gwinnett Chamber Friday coffees. You come there, you’ll meet folks like Erica. Several other folks that can help you through insurance issues and other issues for your business or for your individual self. Stop by on a Friday at 8:30 in the morning for Friday coffees with the Southwest. And Erica, I know you’re often there and that’s a good way to meet her and some of the other folks that work in this space. I want to thank you so much for joining us today and just helping with tips and helping people become more aware and every time Rico, we do this right, we learn something else.
[00:33:44] Rico: This was great. Thank you, Erica.
[00:33:46] Erica: You’re very welcome.
[00:33:46] Karl: We’re all just a little bit smarter about, just the options and the decisions that we have to face. Open enrollment is starting up soon. I think November 1st for most people. Do those exercises, talk with your families, talk with your employers about some of the plans that are outside the marketplace. And just try to do the best thing for your family. If anything, we learned over this last year is taking care of your health is really important. And you can’t plan for when you’re going to need health insurance and deal with it. All the people that got COVID, whether they have to get well at home or go out and go to a hospital. And there’s going to be some time before people recover from the health costs that were incurred. The costs to their livelihoods, their employers and so on. So it’s a smart time to think about what choices you’re making for next year. And Erica, thank you so much for helping us through that. Today we had Erica Dumpel with CDA Inc. Just sharing some of those insights on the healthcare options for folks that are out there. I’m Karl Barham with Transworld Business Advisors of Atlanta Peachtree. Our business advisors are available to help you consult on your business. Whether you’re looking to improve your business, to grow your business, or when you’re ready to exit your business. You can contact and schedule a consultation with us. My email is KBarham@TWorld.com. Or you can visit our website at www.TWorld.com/AtlantaPeachtree. Our goal is to help support the local business community in any way we can. Even if it is connecting them to experts in different areas that can help them with their business or when they’re ready to exit or sell their business, we can help them with that as well. Rico, why don’t you tell us about what you’ve got going on?
[00:35:31] Rico: Sure. We’re working on the next issue for Peachtree Corners Magazine. That actually comes out in December. But we just started working on editorial now. Lots of good stuff we’re planning on. And the latest issue is out now. You can go to LivinginPeachtreeCorners.com to check out the digital version of that. And doing the normal things that I always do. Mighty Rockets is my company. So if you’re looking for branding, marketing, social media, online management of your presence there. Just contact us and we’ll be more than happy to help you with managing your social media, video production, and podcasts even. So check us out at MightyRockets.com. So all good. It’s a great day. It stopped raining too I think.
[00:36:14] Karl: Yeah, it did. Well, thank you everybody for joining us on the Capitalist Sage Podcast, we’re going to continue to bring you local experts and business owners and just continue the conversation. So everyone have a great rest of the week. And for those get ready for Halloween this weekend. Be safe out there and watch out for the kids. Take care of everyone.
[00:36:33] Rico: Take care.
Related
Business
Expanding Horizons: How KGM Technologies Balances Defense, Medical, and Precision Manufacturing
Published
7 days agoon
March 27, 2025Kyle Grob on innovation, diversification, and the future of skilled trades
In this episode of UrbanEBB, host Rico Figliolini speaks with Kyle Grob, CEO and founder of Peachtree Corners-based KGM Technologies, a precision manufacturing company specializing in firearm suppressors and expanding into medical device production. Kyle shares insights on growing a business during COVID-19, navigating ATF regulations, and how Georgia fosters innovation in manufacturing.
The conversation also explores the future of skilled trades, the challenges of hiring motivated workers, and KGM’s commitment to workforce development through partnerships with vocational schools. Whether you’re interested in business growth, advanced manufacturing, or the evolving job market, this episode is packed with valuable insights.
Key Takeaways & Highlights:
- Adapting to Change – How KGM transitioned from automotive and defense contracts to firearm suppressor manufacturing and medical devices.
- The Impact of ATF Regulations – Digital processing has drastically reduced wait times for suppressor purchases.
- Workforce Challenges – The decline of skilled trades and the difficulty of hiring motivated employees in manufacturing.
- Medical Technology Expansion – KGM’s role in producing stroke rehabilitation devices and scaling medical manufacturing.
- Networking & Diversification – The importance of industry connections in finding new opportunities.
- The Value of Trade Schools – How partnerships with Maxwell High School and other vocational programs are shaping the next generation of skilled workers.
- Patents & Innovation – KGM’s goal of filing at least one new patent every year.
- The Role of Suppressors – Their use in law enforcement, hunting, and protecting hearing health.
Transcript:
00:00:01 – Rico Figliolini
Hi, everyone. This is Rico Figliolini, host of Urban Ebb here in the city of Peachtree Corners, just north of Atlanta. I appreciate you joining us. We have a great guest today, a Peachtree Corners-based business, very different and unique industry, Kyle Grob. Appreciate you being with me, Kyle.
00:00:18 – Kyle Grob
Oh, thank you for having me. Glad to be here.
00:00:19 – Rico Figliolini
It’s going to be a good discussion on a bit of company, a bit of work, and manpower, the lack of. But before we get into that, I just want to say thank you to two of our sponsors, EV Remodeling, Inc., and the owner, Eli, who lives here in Peachtree Corners also. His family does. And he does great work from design to build. Whole house renovation, or if you need an extension on the house, he’s the guy to look for. They’ve done over 260 such renovation work. So check them out, evremodelinginc.com. And then also Vox Pop Uli also family owned, also in Peachtree Corners. And they’re a company that if you have a brand and if you’re a business and you need to bring that brand to life, pretty much you can do it. 1,600 vehicle wraps I think this past year anything you can want, imprinted, embroidered, silk screen, whatever it is. If you have a logo and you want it on an object of any sort, challenge them. I can’t tell you how many different things they’ve put logos on. So all great stuff. Check them out, voxpopuli.com, where you can find them. So, now that I’ve taken care of the sponsors who support us for our journalism and podcasts. Kyle is the founder and currently CEO of KGM Technology. Yeah. So, based in Peachtree Corners, tell us just quickly a little bit about what the company is.
00:01:42 – Kyle Grob
So, the company started in 2012 as a kind of a fabrication, job shop, machining fabrication. And we kind of evolved out of the automotive space and got into the defense world and slowly grew over years. And then we moved into this building in 2019 and have been growing ever since.
00:02:03 – Rico Figliolini
2019, COVID.
00:02:05 – Kyle Grob
Yeah, so COVID was actually very good for us. It was wide open, running multiple shifts. While many businesses were shut down, we couldn’t hire enough people, we couldn’t build enough products.
00:02:17 – Rico Figliolini
We’ll get into that because it may be a bit of what you’re going on now. So your business is military suppressors, which is the biggest part. You told me once at one point when I took a tour earlier, a week ago, you said we’re precision manufacturers.
00:02:34 – Kyle Grob
Yeah, so the back end, the wholeness of the company is precision manufacturing. Our forward-facing product is suppressors. That’s mainly what we sell to commercial, law enforcement, military, overseas, all kinds of stuff like that. But we’re in all kinds of stuff. Contract manufacturing, medical device manufacturing and supply, all the way down to machining and research and development. And it’s just a little bit of everything. But again, forward facing is the product line, yes.
00:03:02 – Rico Figliolini
Sure. And you’ve done this since 2019, right? Actually before that.
00:03:07 – Kyle Grob
Well, no, no. Yeah. So we started suppressors in 2015, 2016. And then, but it was kind of a side product to what we were doing. Really grew in 2019. And then really kind of just kept growing through COVID. And this is kind of where we are now.
00:03:22 – Rico Figliolini
Interesting. So your family is steeped in military? In all branches, I guess?
00:03:25 – Kyle Grob
Yeah. Army and Navy.
00:03:27 – Rico Figliolini
Army and Navy. And you hire veterans?
00:03:29 – Kyle Grob
We hire a lot of veterans. We have a lot of veterans that work for us. I try to hire as many as we can. They make very good employees. But, you know, it could probably be a whole nother podcast in itself, what happens to veterans when they come back from service. And so we try to search them out and give people a chance.
00:03:34 – Rico Figliolini
Getting involved in this type of market since, you know, you started, has it changed in the way you do business?
00:04:03 – Kyle Grob
Yeah, because we are so highly regulated from, you know, the ATF regulates us pretty heavily. The ability for consumers to essentially purchase the product and all the paperwork and background check that goes in it has evolved since we started. It used to be nine months, 12, 15 months to get a product. So you buy it, wait for your paperwork for a year or more. You’d almost forget about the product. And then all of a sudden it’d pop up one day. Well, last year, everything went digital. And so now everything’s digital. You go from months or years wait time to days, hours, weeks.
00:04:38 – Rico Figliolini
So you can order this stuff online and get it shipped to you?
00:04:41 – Kyle Grob
No, so you can’t really ship it to your house. So you still have to go to a dealer or go like that. You’re still submitting fingerprints. You’re still submitting your photos. But the process is now all digitized. There’s no manual entry on the ATF side. Everything goes through much faster. And again, we’ve seen, you know, three hour wait times. Where you fill out your paperwork, go to a long lunch and all of a sudden your suppressor is approved.
00:05:04 – Rico Figliolini
So if you have a gun permit or a carry permit, does that make it easy?
00:05:08 – Kyle Grob
It doesn’t really because it’s a completely separate background check. So this, every suppressor you purchase is its own background check. So you treat it like a firearm purchase every single time, except it goes through a kind of a different, it goes through the FBI on the NIC side, which is their background check service. But it goes through separate checking on the ATF side as well. So it is a little bit more involved process than buying a handgun or a rifle or something like that. But similar agencies touch it, I guess.
00:05:38 – Rico Figliolini
Okay. This being the state of Georgia, other states have different ways of doing things. You’ve been to trade shows. You’re involved in the industry a bit. Do you see Georgia being a good place to do business here in this market?
00:05:52 – Kyle Grob
Georgia is a very friendly state. And even just manufacturing in general, you’ve seen all the companies that have moved here. You have, you know, most major automotive companies are either building or about to build here. You got SK batteries. You have some big companies that are moving to Georgia. And then film. I mean, film is massive here now with all the tax breaks. And so you see a lot of stuff coming to Georgia from an industry standpoint, but it’s also very firearms friendly. There’s a lot of big companies here in Georgia. You have Glock here in Georgia. You have Daniel Defense. You have a lot of really big companies. I think Remington’s got a place here. So it is very, you know, Georgia, Alabama, Tennessee, South Carolina. There’s a lot of very friendly states when it comes to manufacturing and firearms.
00:06:35 – Rico Figliolini
So how do you go about selling your product then? I mean, if you go to trade shows, RFPs?
00:06:40 – Kyle Grob
So on the military side, it’s more RFPs, it’s more contract basis. We partner with a lot of firearms companies because a lot of submissions for weapons systems require, you know, we’re viewed as kind of an add-on to a weapon system. Yeah, it’s an accessory. And then on the law enforcement side, we go demos, we have dealers. And then on the commercial side, we have distributors that distribute to dealers. And then we have dealers that essentially are walk-in brick and mortar stores. And we sell directly to them as well.
00:07:07 – Rico Figliolini
So for most people that may not know, why would someone want a suppressor on the gun? Why would a police officer, let’s say a SWAT team, want to suppress it? What makes it?
00:07:17 – Kyle Grob
Really the biggest one is health and safety. It’s the biggest one. So from an officer-involved shooting, or say if he shoots without ear protection, every shot is permanent hearing damage. So if he shoots one in his entire career, he’s permanent hearing damage, he’s on disability from an auditory standpoint. You look at, you know, what you could do, and then you look at, you know, God forbid all the school shootings we’ve had and school resource. When you shoot inside of a building, it’s even magnified. So it’s very, very loud in general, and then you put it inside of a building and it gets worse. So there’s been cases where you’ve seen lawsuits where, you know, a SWAT team or someone’s gone into a house or a building and essentially, you know, saved someone, but they discharged their short barrel rifle inside the house. And then everyone that’s not wearing ear protection, i.e. the family, they’re all deaf or hearing damage, and they end up suing the city. And we see it a lot. And so from a health and safety standpoint, there’s that. You could look at accuracy. And then you look at, on the hunting side of being more courteous to neighbors. It allows you to hunt closer to, you know, other people and stuff like that. Yeah, so there’s so many things that add to it. And then you add, you know, on the military side, it helps with being able to, you know, hide your location and just be more effective. Suppress flash and stuff like that. So a myriad of uses, but really the bigger one is the health and safety side of things.
00:08:40 – Rico Figliolini
I was speaking to a person today that on his old farm he used to shoot his rifle and stuff. And he told me he said, this ear? Pretty much gone. He says now hearing aid. Because he didn’t think that he needed a, you know plugs or anything. A suppressor probably would have helped him. Well at least the plugs might have helped a little bit. But no one thinks about that.
00:08:59 – Kyle Grob
You don’t, you don’t. And you look at the law enforcement side and kind of the heat of moment, you don’t think about it. It’s not something, you’re either fighting for your life or, you know, your split moment decision. Like you don’t think about putting your plug on or throwing a plug in or something like that. It’s a split second decision. So with suppressors, you can really mitigate a lot of that risk. Now, does it make it the Hollywood movie side? No. The only thing that gets even close to that is 22. And it’s because the subsonic is very quiet like that. Any centerfire rifle cartridge you’re never going to get away from supersonic crack. It’s only so quiet you can get it. It is a suppressor, not a silencer. And that’s a probably a very heated topic. It’s a movie thing, yes. But in practical application they do a lot of work for the size of the product and what you use it for.
00:09:50 – Rico Figliolini
So now going from suppressors to the medical industry. You know when you showed me around and you talked to me about mechanical therapeutic systems for a company you’re doing work for inside the perimeter. That you almost had to double the size of your floor space, essentially.
00:10:07 – Kyle Grob
Yeah, so it’s kind of an interesting story. We go back to, we’re a precision manufacturing company. We make contract stuff. We do defense. We do a little bit of everything. And it was kind of a friend of a friend. Their business was scaling and really needed help scaling the manufacturing side of their product. And it was really a right place, right time. It kind of fit in our warehouse. While it’s not exactly what we make, precision assembly, scaling, manufacturing, supply chain, logistics, all that stuff. That’s what we do every day. So I’m just building something a little different versus what I have been building. So it was a great opportunity. Again, the right side of the perimeter is Atlanta company. And it was just a really good right place, right time. Good fit for what they were looking for. Good fit for us on the diversification side. So it’s just it really worked and we’re growing weekly. Yeah, we’re blowing walls down and yeah we’ve tripled the space twice now since we yarded in like October of last year. So it’s very very quick.
00:11:07 – Rico Figliolini
When I walked through and you gave me the tour, I mean there were quite a few people just in that place doing the assemblage. I think you even told me, you said well, how far down can you? Millionth of an inch? Precision?
00:11:21 – Kyle Grob
Yeah, so it’s like our EDMs and some of our stuff, we calculate microns, millionth of an inch.
00:11:27 – Rico Figliolini
So that’s an industry, obviously, you want to get more into.
00:11:30 – Kyle Grob
Yeah, it is. It was interesting. I had kind of heard about the medical manufacturing side, and the more we dug into it, the more I realized how many companies like the company we’re helping are out there. And they have a great idea, a great concept, but they’re either doctors or they’re pcs or biomedical. You know they’ve developed great product but they don’t know the manufacturing side or they don’t know how to scale the logistics. Yes, scaling. So it’s, there’s so many good ideas that maybe never ever come to market or never could reach the potential they could because they don’t know the back end. They don’t know the manufacturing, they don’t know how to. Make five of something is very different than making 500, is very different than making 5,000. And it’s just a different skill set. It’s a different knowledge base. And we’re very good at it. And it was a really, really good fit. And it’s something we believe in. We believe in the medical stuff as much as we believe in the defense. Every day we’re building something to help someone else.
00:12:29 – Rico Figliolini
And to get people to understand a little bit, this particular thing was a therapeutic.
00:12:34 – Kyle Grob
Yeah it’s a, without going into too much detail, it’s a stroke therapy device. It’s used for rehab of stroke patients so that they can actually rehab at home versus having to go into a therapy office. And so it’s just grown immensely and that’s, the product’s done well.
00:12:50 – Rico Figliolini
So how do you go after that market? You know, so if another business person, you know, when you, when you diversify, it’s not easy, right? You’re all set in one way. You have 100% of the direction going one way. How do you do that? If another company was listening to this, how would they be able to diversify? So what challenges did you see?
00:13:10 – Kyle Grob
The challenges, like I said, we very much stumbled into this one. Not saying we weren’t looking, and that’s kind of how we did it, but honestly, it was network. And the guy that owns this company, owns another company and he’s an investment group with another other. So a lot of it is networking and being open and willing to take on a challenge that you may not. Be like, oh I have no business in that, well if you’re good at what you do over here and you can see you can cross the lines you can compare, you’d be surprised what you can do. And then you go to the trade shows. Like there are medical device trade shows. Go to those and walk around and say, hey I’m a manufacturer, or I’m this, I’m looking at getting into this market. Do you have a need for X, what I do? Putting yourself out there and going like, look, this is out of my market, but I’m good at this. I would like to try this and just be open and willing to, A, to fail because you’re going to fail more than you succeed, but be willing to try. And that’s the big thing was the leap. Like we took a leap to do this. I had a good feeling that we could do it. But at the end of the day, like you still have to take the leap.
00:14:17 – Rico Figliolini
You’re a CEO now and you were a founder, but you were on the board. You were chairman of the board?
00:14:22 – Kyle Grob
No, no, not chair on the board. I was more on the technical side. So as we were growing the business, I was CTO. And so we were heading kind of down a different path and it was just a the board kind of wanted to see a different change in the way the company was run. And again, my background, why I said, I wasn’t running the day to day, most more on the manufacturing side and technology and patents and stuff like that. And so, board made a shift and I took back over the company. You know, I go from running it many years ago, to running again. Which happens a lot in small companies. And it was a, we wanted to head down the manufacturing path and that’s what I know. So we made a change and I stepped back in last year and been riding the train ever since.
00:15:11 – Rico Figliolini
Good, good. It’s great to have a company expanding and doing well in Peachtree Corners.
00:15:13 – Kyle Grob
Yeah, yeah. Happy to be here.
00:15:17 – Rico Figliolini
Being an employer of veterans, being steeped in family military and stuff, you do outreach, you do community fundraising in that field, in that area.
00:15:29 – Kyle Grob
Yeah, we do, again, more in the defense space, but we do some charity work with several organizations. And again, we donate product. We do stuff for raffles and fundraisers, and we do a lot of stuff like that. Because I really do believe in giving back to the market and giving back to those people. So it’s something we do a decent amount of. I would like to do more this year. That’s kind of what we’re trying to find some other organizations that do stuff with. But we try to do as much as we can. There’s one group, and I’ll be happy to say the name, but Guardian Group. And it’s Guardian Long Range. And they have a precision rifle series. It’s a shooting competition, but it’s for fun. And they have four or five stops all around the U.S. And we outfitted all their rifles that they let people use for trials and stuff like that. We outfitted all the suppressors. So maybe their first competition experience is with a suppressed rifle. So we do stuff with them every year. A guy named Gary is the one that founded that. So great group. But he has a lot of, most of his stuff is for foster kids. He’s a foster kid himself, and he does, every single dime of that goes right into helping foster kids, helping place foster kids, and stuff like that.
00:16:41 – Rico Figliolini
Wow, that is neat. That is cool. I didn’t think about that. So, you know, leadership, company, what comes to mind when you’re, you know, when you’re looking ahead for the next few years?
00:16:55 – Kyle Grob
Really, my biggest push is diversification. Is trying to grow the medical side for sure, grow my contract manufacturing, and really try to build some stable streams around. Everyone knows the firearms industry goes up and down. It’s always cyclical. And so trying to build a larger company where I can have some overlying pathways and diversify and stuff like that so that I can clip the waves and be able to grow the business without relying as much on a very cyclical market. So that’s really the big try. We’re pushing a lot of technology. We’re trying for a patent a year, or a patent every two years. Yeah, we’re four deep already, with two more applied. So we do a lot on the patent side, a lot on the testing and development side. But yeah, growing the medical is really the big one I’m focusing on in the next year or so.
00:17:45 – Rico Figliolini
Yeah, one of the things you have in the house is a firearm range. You told me, and you can put a .50 caliber?
00:17:52 – Kyle Grob
Yeah, so we shoot up to .50 caliber indoors. Yeah, so we have a, it’s a lab as much as it is a range where we can do all of our instrumentation and we develop based on data. So we use it. We shoot it in almost every single day. We’re doing testing and development. We do, you know, demos for customers and stuff like that. But yeah, we’ve, pretty extensive room back there.
00:17:54 – Rico Figliolini
Yes, it’s amazing. Small. Smaller than this conference room.
00:17:58 – Kyle Grob
Yeah, yeah. It’s not, it’s not very big. It’s not a big long range, but it’s heavily instrumented.
00:18:22 – Rico Figliolini
I can’t even imagine shooting a 50 caliber in there, how that would sound.
00:18:25 – Kyle Grob
Oh it, unsuppressed it’ll lift the ceiling tiles. It’ll pressurize the room, yeah so.
00:18:31 – Rico Figliolini
So lots of work yeah expanding you’re looking towards the future and stuff. One of the biggest problems I guess, and we’re going to go right into that is finding employees. Finding skilled employees or motivated employees. Maybe not even skilled, maybe motivated. How does that?
00:18:49 – Kyle Grob
I’ll trade motivation for skill. I’ll trade because what we do is kind of unique. Even on the manufacturing side, we have very nice machines. We do things to a very, very high tolerance. And even with machining background, we’ve found that some people have either preconceived notions or bad habits or stuff like that. We’re getting to the point now where I would rather have someone that has a little bit of mechanical aptitude, some basic knowledge, or someone out of trade school, and I’d rather just teach them. And finding someone that’s willing, even on the medical side, I’d rather have someone come in that wants to just come in and work every single day, take pride in the product they put out. You don’t have to even be that knowledgeable about what we do. I’ll train you and do whatever we need to do, but someone to actually come in and do it is one of the biggest struggles we find. We’ve had you know, multiple staffing agencies and all stuff like that. And we have people, we had some people the other day that came in for four hours, just left during lunch, never came back. And yeah, just it’s, the workforce is, it’s been disappointing, I guess. And seeing, especially on the technical side, I mean, the craves, the trades, the crafts, like a lot of that stuff is dying. Like people are not, you look in the like tool and dye. Oh, that’s enough. That’s no, so most people don’t know how injection mold stuff works and like that. The craftsmen that build those tools, that is a dying art. There’s only one or two schools in the U.S. that do it. I don’t know any of those guys that make less than six figures. None of them. And, you know, you look at plumbers and electricians and welders. I come from a welding background. I knew plenty of welders in the nuclear field that have multiple houses in multiple states. They never wanted for money. They always had plenty of money because it’s such a very small niche thing and there’s not many people that go into it. And so what we found with the growing, we’ve had to do a lot of automation because we cannot get the people. So we’re putting robotics in, we’re putting automation system in just because I have a certain number of parts that I have to make a day and we’re not hitting the numbers with the people we have. And it’s really hard to find people that want to come in and work. And we have a climate control facility, the nicest machines, our oldest machine, CNC machine is from 2018. It’s the oldest machine we have in the whole building. Most stuff is within two years old. So we work highest machines, highest quality product this, and just having someone come in every single day and want to work. It’s been very difficult to find. And that’s it. It’s been. I guess upsetting a little bit of how hard it’s been.
00:21:25 – Rico Figliolini
I think we talked a little bit about that when I was here last time. And you’re on the board of Maxwell High School Technical, I think?
00:21:33 – Kyle Grob
Yeah, so Maxwell High School, it’s a vocational high school, essentially. It’s a trade high school. They’re over in Lawrenceville, I think. So high school kids in Gwinnett County, if they want to go to that program, I want to say it’s junior and senior year. If they are heading down that path, they essentially will get bused to Maxwell for half their day and come back. And they have machining and welding, hvac, nursing, culinary, carpentry, all kinds of stuff. And you can get some vocational certificates in high school over there. And so I sit on the board over there and I help advise of curriculum of what do kids need to learn if they want to head down this path? They want to head down, I don’t care if it’s machining or engineering or anything like that. Like what are basic skills. I mean we have people that come in their 20s that don’t know what a screwdriver is. I mean, it’s like, that sounds crazy, but until you meet people and you know, I don’t think the school systems are doing people favors. And so I’ve been really trying to help where I can and you know, try to like, look, let’s try to teach people young. I didn’t have that when I was in school. Like I had to learn everything the hard way.
00:22:42 – Rico Figliolini
Yeah. And you were talking about this. You started at 15, I think.
00:22:46 – Kyle Grob
Yeah. So I started machining in, you know, high school. I started welding at 12. I grew up on a farm.
00:22:51 – Rico Figliolini
12.
00:22:52 – Kyle Grob
And so it’s one of those that, you know, I had a very good upbringing. Like I was shown, my great grandfather was a master carpenter. Great uncle was a master machinist. Like I grew up in a trade family. And so like, I got exposed to that stuff very, very young. I was very lucky. A lot of people aren’t like that. Most of their parents are maybe in IT or finance, and they want to go be a machinist or be a welder or something like that. So there’s no, you know, maybe the parents don’t know how to get into that. And so the kids find out at a later date. Well, what if they could start finding out in high school? They start learning, you know, your STEM schools, your vocational schools, that kind of stuff.
00:23:31 – Rico Figliolini
I think like Paul Duke STEM, for example, they’re a hybrid school, right? So it’s, you have kids that are technically STEM kids, but then you also have other kids who are learning CAD and 3D printing and stuff like that. So more of technical stuff that they can actually leave the high school knowing that stuff and then find the job doing it. So that’s the only place I know that’s like that, short of the Gwinnett Science and Technology High School. I forget where that is now. But when I grew up, I mean, granted this, you know, my high school was 50 years ago. Half a century. That’s horrible. Okay. But when I grew up, we had shop classes. So metal class, printing class. In fact, I took printing. I should have taken the auto class because that really works now. But I took printing. And when I was going to college, I worked at the print shop right around the corner. So I made good cash because there weren’t that many people that knew it. And I literally could run two or three presses at the same time. They were small presses. But there were even people back then that would be like, well, what are you in a rush for? Why are you doing what you’re doing? And I’m like, because I’m getting bored running this long run in this one press. I could do this other one while this is going. So it is to some degree motivation, some degree technical knowledge.
00:24:50 – Kyle Grob
Yeah, but a lot of it still drive. Strive.
00:24:53 – Rico Figliolini
Yes. For sure. To be able to make that money. I mean, most parents think, well, I don’t know about most parents. What I think is people got into this four-year college degree thing. Which is way more expensive now than it used to be. And you’re looking at people, who was it, the head of OpenAI, was essentially saying you don’t have to go, the head of NVIDIA was. It was like you used to want to be able to send your kid to do computer programming. And he’s essentially saying, you know, you don’t need to be doing that anymore because it can be done in plain english on OpenAI, essentially. So where are they going?
00:25:36 – Kyle Grob
Good question.
00:25:37 – Rico Figliolini
I see signing bonuses for 10 grand on HVAC here in the metro area sometimes. How do you solve that? I mean, you’re on the board of the high school, but how do you?
00:25:48 – Kyle Grob
Yeah, but it’s one high school. And it’s one high school in a state. And I know there’s other vocational schools in other states. A lot of it just seems to be the state has to look at it holistically in the whole state. And go like, look, this is worth putting money into. This is not football. This is not baseball. This is not your support sports like that. It is an alternative path that is not your commonplace. So it really has to come. And I’ll give the state of Georgia and even Gwinnett County very, very good accolades of, you know, taking the leap on that school and funding that program and pushing it and keeping to push it and grow it. And so, but it has to start at a state level. The state has to be able to go,this is worth putting money into to future. Because you have to do it now for the kids that are coming up. You know if you want to get, if you want that kid that’s in elementary school right now to look at that that program, it already has to be in place so that he will know about he or she will know about it by the time they get into middle school and then by the time they get in high school they can apply for it.
00:26:50 – Rico Figliolini
I think the stigma, but the stigma needs to go away also, right? Because there’s a stigma of like, you’re not going to college?
00:26:57 – Kyle Grob
Yeah. You’re not going to amount to anything if you don’t go to get a four-year degree.
00:27:02 – Rico Figliolini
And it used to be okay if you knew computer engineering and programming. You’d come out of school. Some people, some leaders in that industry would say, don’t waste the four years. We’ll train you during the four years.
00:27:13 – Kyle Grob
Come work for me now.
00:27:15 – Rico Figliolini
Yeah, yeah. I mean, Google used to do that. Some of these other companies started doing away with four-year degree minimums to be able to do that because they weren’t finding what they needed. But now they’re finding it in a different way. But I agree with you. Funding that type of stuff makes a whole lot of sense but it’s taking that stigma away to say, you know.
00:27:33 – Kyle Grob
It’s okay to be a plumber. It’s okay to be a carpenter. It’s okay to, you know wash cars. Because I have a friend of mine who started washing cars then he managed a car wash. Now he owns six of them.
00:27:46 – Rico Figliolini
Yeah again, it’s a bit of drive.
00:27:50 – Kyle Grob
Yeah, but he had the drive and he knew that he had to start somewhere. And I think a lot of people are scared of starting at the bottom of something. And but, it’s one of those that like they’re all these crafts all these trades are very inviting they want people. They’re begging for people to come work.
00:28:06 – Rico Figliolini
You know what? You don’t you don’t need to drive as much. You need to be able to, I think take pride in what you do. You don’t need to go into something and say, well, I want to start my own business because some people don’t want to. They want to do a nine-to-five. That’s fine. They can make lots of money doing nine-to-five.
00:28:22 – Kyle Grob
They can make good money doing nine-to-five, yeah.
00:28:25 – Rico Figliolini
Check out the company. Alright, so we’ve sort of come to the end of our interview. Is there anything I’ve left out that we haven’t talked about that do you think you should mention?
00:28:37 – Kyle Grob
No, I said I can go on for days about the labor and trade schools and stuff like that. But no, I said this. It’s kind of a little bit of my story and kind of where we’ve come from, where we’re heading and what I’m passionate about individually and what I want to do for the community.
00:28:52 – Rico Figliolini
Excellent. So if you all want to find out about the company, check out the website. I’ll have the, actually, what is the website?
00:28:58 – Kyle Grob
It’s kgm-tech.com.
00:29:01 – Rico Figliolini
I’ll have the link in the show notes as well. If you have any questions for Kyle, just email him off the website. Or leave your comments in the, you know, depending if you’re watching this on Facebook or Twitter or YouTube, or if you’re watching this on audio podcast, just send the comments to me and I’ll forward it to Kyle. So, but thank you everyone. Thank you to our sponsors as well, to Vox Pop Uli and to EV Remodeling Inc. Appreciate you all being with us. Share this UrbanEbb podcast with your friends. And if you look, if you know anyone that’s looking to get into the technical field, Kyle could be a good mentor probably. I would think. Thank you Kyle.
00:29:41 – Kyle Grob
Yeah. Thank you sir.
00:29:41 – Rico Figliolini
I appreciate it. Thank you guys
Related
Business
Why Patient Experience Matters: A Conversation with Dr. Aristo Shyn
Published
2 weeks agoon
March 23, 2025On this episode of Peachtree Corners Life, host Rico Figliolini sits down with Dr. Aristo Shyn, owner of Link Dental Care, to discuss his journey from corporate dentistry to running a thriving private practice. Dr. Shyn shares insights on the challenges of entrepreneurship, how he built a patient-centric practice, and how technology is transforming modern dentistry.
They also dive into Link Dental Care’s community involvement, the role of social media in business growth, and the importance of creating an exceptional patient experience. Whether you’re interested in dentistry, business ownership, or local community impact, this conversation offers valuable takeaways.
Key Takeaways & Highlights:
- From Corporate to Private Practice – Why Dr. Shyn left corporate dentistry to build his own patient-focused practice.
- The Power of Technology in Dentistry – How 3D imaging, digital scans, and upcoming Botox treatments improve patient care.
- Growing a Business – The challenges of launching and expanding a dental office without prior business experience.
- Community Involvement – Supporting local schools, charities, and offering free dental makeovers.
- Navigating Insurance & Patient Care – Why transparency in billing is crucial in healthcare.
- The Role of Social Media – How Link Dental Care’s Instagram skits helped grow their brand and even go viral.
- Balancing Work & Family – Juggling a growing business while raising two kids.
- Future Plans – Potential expansion, but always staying patient-centered under one roof.
Listen in to learn how Dr. Shyn built a thriving dental practice while prioritizing technology, patient experience, and community engagement!
Transcript:
00:00:32 – Rico Figliolini
Hey, everyone. This is Rico of Figliolini, host of Peachtree Corners Life here in the city of Peachtree Corners, Gwinnett County, just north of Atlanta. We have a great guest here today, Dr. Aristo Shyn, who owns Link Dental Care. Thank you for allowing us to do the podcast with you today.
00:00:48 – Aristo Shyn
Thank you for having us. I’ve been calling you our very own Joe Rogan for years now, so it’s an honor.
00:00:54 – Rico Figliolini
I’ve done over 250 episodes. I feel like I could be Joe Rogan. I get the head for it. Before we get into the show, though, let me say thanks to our sponsors. We have two. EV Remodeling, Inc., and Eli, who owns it, that lives here in Peachtree Corners. Great family. They do great work. They do design to build, whole house renovation, or your bathroom, your kitchen, or an addition to the house, whatever you need. They’ve done over 260 homes throughout the metro area. I think you should check them out. EVRemodelingInc.com is where you can find that. Vox Pop Uli, our second sponsor, is also here in Peachtree Corners, also family owned. So they take your brand and they bring it to life. So think about it. You have a brand, you have a car, vehicle. They do, I think this past year, they did over 1,600 vehicle wraps alone. You go to trade shows, they’ll put up a whole setup for you. You need shirts, they’ll do that for you. You need just one or you need 1,000, they’ll do all that for you. If you have a logo and you want to imprint it on an object, bring it to them. Challenge them. It’s amazing what they’ve done. So check them out. Vox Pop Uli is the company, and we appreciate the sponsorship of these podcasts, the magazines, and our journalism. Now that we’ve done the sponsors, I appreciate the conversation we’re going to have today. Aristo’s been, Dr. Shyn has been our family dentist for quite a while for all my kids and my wife and myself. So seeing you guys grow from a very small office that was probably big enough for you when you started.
00:03:06 – Aristo Shyn
Yeah, you’ve been with us since the beginning. Yeah, very humble beginnings.
00:03:09 – Rico Figliolini
So just moving from that, I saw you know you guys were getting more and more patients. The place was getting filled and now you’re in a larger location, a very beautiful place here right on Jimmy Carter Boulevard, Holcomb Bridge Road here. So tell us a little bit about your origins, where you started.
00:03:28 – Aristo Shyn
How far back do you want me to go?
00:03:30 – Rico Figliolini
Where were you born?
00:03:33 – Aristo Shyn
So I was born in Kansas City, Missouri, next to UMKC, which is where my dad went to dental school. And then moved to Alaska afterwards. Stayed in Alaska from ages 2 to 14. And then I moved to Florida, pursued a golf career, and then naturally transitioned to dentistry after that.
00:03:57 – Rico Figliolini
Naturally.
00:03:58 – Aristo Shyn
Yes. And then I’ve been in Georgia since 2012.
00:04:01 – Rico Figliolini
That’s amazing. You went from Missouri, where I’ve never been. I’m a Brooklyn kid. Kid. No longer a kid, but from Brooklyn. So I don’t know that place. Alaska, which is, for me, you know, grizzly bears is what I think of. So you went, right? From grizzly bears, snowstorms, to Florida, alligators, rocks, and hurricanes. And now Atlanta, of which you find almost none of that, actually.
00:04:25 – Aristo Shyn
It’s nice.
00:04:27 – Rico Figliolini
Yeah, it must be different, right? But you went to start with a golf career. When did that even take hold?
00:04:40 – Aristo Shyn
In Alaska, of all places. Yeah, I was pretty good at it. Again, we moved to Florida to pursue that, but I think dentistry was my true calling, and I think I made the right choice.
00:04:55 – Rico Figliolini
Well, and you were kind of young too, I think, when you got your dental degree?
00:05:00 – Aristo Shyn
Yes. I try not to talk about that too much, but I was 23 when I graduated.
00:05:07 – Rico Figliolini
I saw that. I was like, that’s amazing. And so you’ve been practicing since then, obviously.
00:05:10 – Aristo Shyn
Mm-hmm.
00:05:13 – Rico Figliolini
Yeah. So you’re in Atlanta. You moved here in 2012. You decided to start your business in less than a year of moving here.
00:05:23 – Aristo Shyn
Yeah, I think my first job in Atlanta was a corporate job. It wasn’t for me, to say the least. I think I lasted about seven months before saying, I got to do this. I got to do something else. I got to do this on my own. And that’s how I came to Peachtree Corners.
00:05:45 – Rico Figliolini
So just to be clear for people to know, it’s corporate dentistry is what you were working at. So corporate environment with multiple offices and stuff is a whole different business model, I think. Isn’t it?
00:06:02 – Aristo Shyn
Yes, to say the least.
00:06:08 – Rico Figliolini
Yes. You might not want to say it, but I’ll say it. Corporate dentistry is not that great. When you don’t have an owner that owns the business and doing the work that’s passionate about his patients and his community, it’s way different than dealing with someone that’s billing out of Texas let’s say or they have multiple 20, 30, or 90 offices throughout the country. And they sound like they’re local because they sort of keep the name of the place so they sound local but they’re really not. And so they’re driven by money because they have a big nut to pay.
00:06:36 – Aristo Shyn
Yeah, you’re just trying to get me into trouble right now.
00:06:39 – No, no, I’m saying it so it’s okay.
00:06:42 – Aristo Shyn
Listen, I would, in general, and this is from my own experience and what my colleagues have experienced as well, it’s just a lot of, and I think there are good dentists there, but unfortunately they don’t have the autonomy or the control over the whole operation. So I would say a lot of corporate offices, a lot of chain offices, are profit and production driven versus being patient-centric.
00:07:02 – Rico Figliolini
Yeah, I can’t argue with that.
00:07:05 – Aristo Shyn
Yeah, I mean, for example, and this you’ll find often in the industry, when you have your morning huddles, a lot of times at those offices, you’re looking at the schedule for that day. And if there’s not enough production on the schedule, you have to find crowns or implants somehow. And I’ll let our audience use their own imagination for that one. But when we have our meetings, we don’t really talk about that. And we talk about how to streamline logistics and how to improve the patient experience. And these days, fortunately or unfortunately, we’ve been doing some Instagram skits. I’ve been putting my staff through a whole other level of stress.
00:07:58 – Rico Figliolini
You all have to visit the Instagram channel that he has. He comes up with all the skits himself. Some of them are really cool. They’re all pretty good. I mean, some of them are hilarious.
00:08:09 – Aristo Shyn
Yeah, we really, you would expect, you know, before and after photos or us selling something. But I think we’re just trying to have fun there. I really don’t know what we’re selling, but it’s fun. I think it still gives us exposure in a different way. We have a live follower counter there. We’re trying to get that up right now. So follow us, please.
00:08:27 – Rico Figliolini
What is the Instagram? It’s Link Dental Care.
00:08:30 – Aristo Shyn
It’s @LinkDentalCare.
00:08:32 – There you go. So follow them. They want to hit 1,000, like, you know, soon. But no, I think that’s a great team building to be able to do that. There’s a lot of pressure sometimes in doing work and such, and every day is different. I think we would talk before a little bit about how you, you know, you go from one patient speaking English, let’s say, to another patient and speaking Spanish or maybe Korean. So multiple languages here in the office, and multiple challenges, dental challenges, right?
00:09:06 – Aristo Shyn
Yeah. I mean, due to the range of services that we offer from fillings, crowns, to root canals, implant surgeries, sinus surgeries, we get quite the variety of cases here. And then there are days where in one room I’m speaking obviously English, and then next room, I’m speaking Spanish. The other room, I’m speaking Korean. And I think we did a count earlier. We speak a total of nine different languages in this office.
00:09:38 – Rico Figliolini
It’s amazing that you speak three languages, at least.
00:09:43 – Aristo Shyn
Two and a half. We’ll call it three.
00:09:43 – Rico Figliolini
Okay. You get by on it. That’s good. So busy, busy work. Technology, though, drives a lot of dental practices now, too. So tell us a little bit about some of the technological improvements you’ve made here. Some of the technology you’ve brought in.
00:10:01 – Aristo Shyn
Well, everything’s new here. So it’s all digital. All new x-ray units, we have our 3D cone beam imaging machine, we have a 3D scanner, we’re doing really cool stuff with digital photography not just for before and after cases but also to communicate with our lab. We’re doing botox and dermal fillers soon. Busy.
00:10:29 – Rico Figliolini
Yeah, that’s amazing. Botox. How does that work in dental?
00:10:34 – Aristo Shyn
I think it’s been requested quite a bit. We haven’t started it yet. We will very soon. It’s not just for, I don’t think it’s just for cosmetics, but it can do a lot with TMJ and related issues.
00:10:51 – Rico Figliolini
Now, when you started on Peachtree Park, it was just you. I think your mom was helping at the front desk.
00:10:55 – Aristo Shyn
No, she wasn’t there at the time.
00:10:57 – Rico Figliolini
She wasn’t there. She came later, maybe.
00:11:01 – Aristo Shyn
Yeah. It was, I think it was a thousand square feet. I don’t think anything was digital at the time. And I had, it was me, one and a half hygienists, one assistant, and one person in the front. Yeah, I still remember I could actually stand in the middle of the office, and if I did a 360, I could see everything. The front office, the four chairs, the lab.
00:11:23 – Rico Figliolini
Yes, I was just thinking the same thing. That’s how small this place was. How many square feet is this place?
00:11:33 – Aristo Shyn
I think it’s just over 3,000.
00:11:38 – Rico Figliolini
And you took on a new, also an additional practitioner with you as well?
00:11:41 – Aristo Shyn
Oh, yeah. New staff, front offices, expanded assistants, hygienists. Another doctor. I mean, she’s been terrific.
00:11:42 – Rico Figliolini
Dr. K?.
00:11:51 – Aristo Shyn
Yep. Dr. K.
00:11:52 – Rico Figliolini
So business has been going well. So that’s good, no?
00:11:54 – Aristo Shyn
It’s been busy. It’s been busy.
00:12:00 – Rico Figliolini
Can’t complain. And there are challenges, right? So let’s go back a little bit. Challenges of opening a business. What would you say to an entrepreneur, to another dentist that wanted to do the same thing? What challenges did you have to overcome when you did that?
00:12:16 – Aristo Shyn
When we first started everything I mean, I was still learning. I had no business experience, I had no HR experience. I mean, I was still learning dentistry at the time so you know the normal course for I’d say acquiring a dental office is, you know you’re usually out in the field for a few years and then you kind of pick up on things and you know slowly transition. But everything happened at once for me so I don’t recommend you do that because it’s quite the learning curve. But going back to everyday challenges, though, I would say half of my stress is just due to my staff, which I love very much, who I love very much. I think we have the best staff ever right now, but you’ve got to deal with staff every single day. So there’s always something. And then beyond that, it’s insurance. Insurance is an issue for, I think, everyone involved in the insurance game. And then after that, it’s just dealing with a wide range of patients and cases that we have coming in, which is also fun for me. But there’s also some focus and stress, and we’re always on our toes. So there’s that aspect to it.
00:13:35 – Rico Figliolini
I think part of that stress probably is because you’re, of your concern for your patients and stuff. I mean you’re sharing that stress with them right? Because some of them, because like you said insurance can be an issue. You know they come in they have to do certain things insurance may or may not cover it or you know, yeah. I mean so, has that changed in the state of Georgia a lot over the past decade?
00:14:01 – Aristo Shyn
I don’t know, insurance is kind of like a foreign language to me. We try our very best to be transparent with everything, I mean not just in my communication with our patients but also you know with our front desk communicating you know regarding finances and numbers. But you know, we try our best, that’s all I can say.
00:14:19 – Rico Figliolini
No that’s good. That you know, I mean that’s the toughest part I think when it comes to medical.
00:14:23 – Aristo Shyn
And our front desk goes to bat for patients if there’s any issues with insurance we don’t just give up and you know tell them that it’s on them so yeah. I know my front desk works very hard.
00:14:36 – Rico Figliolini
Okay cool. You know, the care that you show into the community as well, right? You’re involved with the community. So let’s cover that a little bit as well. What do you like doing in the community? What have you done? Where has Link Dental Care been involved in when it comes to community organizations, events and stuff?
00:14:55 – Aristo Shyn
Well, it’s very different now than when I first started. And I’m very happy and proud of where we are today. For example, I mean, even last year we were able to sponsor the Norcross High School Marching Band, local photography club. I’ve worked closely with Norcross Co-op for quite some years. And it’s, you know, when we interview for dental school, you know, one thing that we’re always saying is we want to be part of the community. We want to be involved in the community. And, you know, that wasn’t the case when we first started. Now that we’re here. Yeah, I plan on staying here and being more involved as time goes on.
00:15:37 – Rico Figliolini
That’s cool. You know, I mean, the biggest thing that we do at the magazine and stuff is that we like to be a cheerleader for businesses that are giving back to the community, doing things with the community, especially if you’re pulling from this community. You know, your patients, your customers, and all that. So being involved makes sense.
00:15:57 – Aristo Shyn
Yeah. And I think we’ve done quite a bit of charity over the years. We don’t advertise it or we don’t really post a whole lot of it on social media. But outside of working at volunteer clinics, we try to take on at least one patient a year and give them a makeover, which they wouldn’t have been able to get otherwise. That’s something I’ve been doing.
00:16:21 – Rico Figliolini
That’s cool. That’s great that you’re able to do that. When the business gets to a certain point, and you’re facing these everyday challenges, right? At the end of the day, what do you do to release that stress, that pressure? I mean, what do you do outside of the office? You’re not playing golf anymore.
00:16:53 – Aristo Shyn
No, it takes too much time.
00:16:54 – Rico Figliolini
Do you get out of the office? What time do you close up?
00:16:57 – Aristo Shyn
Well, it’s a good thing I still like what I’m doing. But yeah, life’s gotten busy. So the way I see it, I mean, I do have a few hobbies, but really it’s been work and my kids right now. So when I’m working, the way I see it, it’s overtime in a football, basketball scene. And then when I’m with my kids, it’s game seven, triple overtime. So that’s where all my focus has been after work.
00:17:28 – Rico Figliolini
Sure, sure. You have two kids, I think? Two kids. Good-looking kids. So, you know, you’re expanding. You’ve done your expansion. But there’s a future, right? I know you want to stay here. You want to expand. What does the future look like for Link Dental Care? For you?
00:17:44 – Aristo Shyn
We just moved in here. We’re talking about expansion again.
00:17:47 – Rico Figliolini
Are you really? You just moved in here. How long has it been? It’s been a few years. Can’t you stop?
00:17:58 – Aristo Shyn
I mean, a few. I mean, patients and staff have asked me in the past, what do I plan to do? Do I plan on opening multiple offices or another location? And to answer one part of that question, I think when a dentist branches out to two, three, four offices, there comes a point where you’ve got to stop being a dentist and become more of a businessman. And I still like what I’m doing a lot. And I really want to keep our practice patient-centric and really emphasize that we are a people business, not a tooth-cutting business or a production business. But, you know, I definitely plan on staying in Peachtree Corners. We’re not leaving. I mean, if there ever is another expansion, you can rest assured it’ll still be under one roof. That’s been always important to me. And I mean, going forward though, I think we’re just, we’re going to continue doing what we’ve been doing. We’re going to continue to stay up with technology, continue to reinvest in the office and the community.
00:19:19 – Rico Figliolini
Okay. Yeah. Sounds good. This is a great place. People want to take the tour. I mean, 3,000 square feet is a lot of space. I think you have plenty of space to expand in. What should people know about you maybe that they don’t know? Is there anything interesting that you want to share?
00:19:41 – Aristo Shyn
I can share what our dental practice focuses on. I think a lot of times patients and dentists alike, they emphasize, they put their emphasis a lot on good dental care. And that is absolutely important. But, you know, to us, you know, good dental care alone doesn’t really, it doesn’t always equate to a good patient experience. And I care a lot about the patient experience. So that means the patient experience starts from the first time you call into our office, from the time you walk through our doors the first time. From the way you’re greeted from the front office, from the way, you know, our assistants or hygienists take you back to the clinical area. So, you know, bedside manners and having clear communication. So, you know, when you’ve put in all those factors, you know, the receiving good dental care, although quite important, it’s not the only piece to the puzzle. So that’s been my focus.
00:20:48 – Rico Figliolini
Cool. Patient-centric, essentially. Well, we’ve been speaking to Dr. Aristo Shyn. It’s a great practice, you guys have. I’m glad that he’s my dentist also, my family dentist. He has been doing a great job. So I appreciate you giving us some time and telling us a bit about your business.
00:21:06 – Aristo Shyn
Thank you.
00:21:07 – Rico Figliolini
Thank you. Everyone, if you have any questions, you can actually check out the website, which is?
00:21:13 – Aristo Shyn
LinkDentalCare.com. There you go.
00:21:15 – Rico Figliolini
And Instagram, it’s the same handle, @LinkDentalCare, right? Anything else you want to share? Count is 455, so we need to get that up to 1,000 apparently.
00:21:25 – Aristo Shyn
It was 200 a few months ago. I’ll tell you one more thing about Instagram before we end this. Within a couple months of us actually trying on Instagram, we actually went viral on one video. We got 1.3 million views.
00:21:41 – Rico Figliolini
Damn, which video was that one?
00:21:43 – Aristo Shyn
That was last year. It was the one about our 3D scanner. So I thought I figured it out and I was almost ready not to come into work the next day. And then here I am doing a podcast with Rico.
00:21:57 – Rico Figliolini
Sorry, it’s not a YouTube content or TikTok creator yet, but he’ll get there soon. Thanks everyone. If you have any questions, leave them in the comments. Of course, we’ll have links in the show note and you can always find Dr. Aristo Shyn here at Link Dental Care. So thanks again, everyone. Take care.
Related
Business
Burn The Ships: Alex Wright on Committing to Success & Helping Businesses Thrive
Published
2 weeks agoon
March 21, 2025Discover how Alex Wright, a former U.S. Naval officer, founding member of the City of Peachtree corners, and corporate finance veteran, made the bold decision to “burn the ships” and launch his own fractional CFO firm. Burn the Ships Financial embodies Wright’s philosophy of unwavering dedication to success. Wright explains how fractional CFO services can help entrepreneurs navigate their financial journey, from basic accounting setup to high-level strategic guidance.
Resources:
Burn The Ships Website: https://burntheshipsfinancial.com/
Key Takeaways:
- Burn the Ships Mentality – Why Alex embraced total commitment when leaving corporate America to start his own business.
- Solving Business Challenges – How a fractional CFO helps entrepreneurs manage cash flow, optimize processes, and grow sustainably.
- Financial Storytelling – The power of translating financial data into actionable insights for business owners.
- City Leadership & Business Strategy – Lessons learned from helping launch Peachtree Corners as a smart city and how that applies to business growth.
- The Role of Technology in Finance – How tools like QuickBooks and Power BI can improve financial planning—if used correctly.
- Long-Term Business Planning – Why forecasting, budgeting, and understanding financial trends are crucial for sustained success.
Listen in as Alex Wright shares his journey from the military to corporate finance and now to empowering small businesses with Burn The Ships Financial!
Timestamp:
00:00:02 – Interview with Alex Wright
00:02:27 – From Naval Officer to City Leader, Alex’s Remarkable Journey
00:06:45 – Burning the Ships, Commitment to the Mission
00:10:39 – Solving Business Problems as a Fractional CFO
00:13:59 – Optimizing Business Efficiency Through Financial Analysis
00:18:14 – Guiding Entrepreneurs to Financial Clarity
00:21:30 – Providing Financial Guidance and Structuring for Growing Businesses
00:25:46 – Translating Financial Data into Actionable Insights
00:31:19 – Leveraging City Startup Experience for Business
00:37:43 – Helping Others Succeed From Military to Coaching to Entrepreneurship
00:42:14 – Expanding Startup with Passionate Partners
00:45:31 – Connecting with Burn The Ships Financial
Transcript:
00:00:34 – Rico Figliolini
Hi, everyone. This is Rico Figliolini, host of Peachtree Corners Life. I have a great guest today, this morning, Alex Wright. Hey, Alex. Thanks for joining me.
00:00:43 – Alex Wright
Hey, Rico. It’s good to see you again. Thanks for the invite.
00:00:46 – Rico Figliolini
Sure. We’re going to have exciting things to talk about. But before we get into that, I just want to say thank you to our two sponsors, EV Remodeling Inc. and Eli and his family who live here in Peachtree Corners and the company is based here. Provide a sponsorship to us for supporting our podcast and our magazines. And EV Remodeling Inc. is a company that does design to build. You need a whole house remodeled or you just need your bath remodeled or your kitchen, they’re the people to do it. They’ve done over 260 large projects over the past few years. And you should check them out. Great supporter of ours. Great people. Nice guy. EVRemodelingInc.com is where you can find them. Our second sponsor, Vox Pop Uli, is also based here on Peachtree Corners. Family owned, they are a company, if you have a brand and you want to bring that brand to life, Vox Pop Uli is the people to do it. They do, think about the truck wraps, car wraps that you see traveling around, trade show booths, signage, anything you need imprinted on any object imprinting. They’re the people to do it. You need a backdrop for you, 20 feet by 10 feet tall, they can do it. Any of those things that will bring your brand to life is what they’re doing. Challenge them, and they’ll come back and surprise you. They’re right here in Peachtree Corners and Norcross. So check them out, Vox Pop Uli, and the link will be in the show notes. But if you search them, V-O-X, P-O-P, U-L-I, you’ll find them. Thanks again for your support. So now we have Alex. So let me introduce Alex a little bit. He has a great background. He served in U.S. Naval, as a U .S. Naval officer back during the 90s. He was the founding member of the City of Peachtree Corners City Council and has been a city councilman here in leadership here since 2012 when he was first elected. He was also the guy that originated the idea of Curiosity Lab that set our path on being a smart city and on so many foundational parts that the Curiosity Lab has been involved in including autonomous vehicle, 5G technology, and all that. So without him, I don’t know where we’d be when it comes to that. Georgia Institute of Technology grad, so much more. He’s also a board member of the Peachtree Corners Veterans Monument Association, if you’re familiar with that and the monument that we have at Town Center. So now that I’ve given a really good background, I think, of you, Alex, why don’t you tell us just a little bit more about what what you’ve been up to and where where we’re going?
00:03:33 – Alex Wright
Yes, that was a great introduction. I wish my wife could have heard how great you made me sound she would’ve found that entertaining. Yeah so I, after I got out of the navy, you know I went to the graduate school and then basically the next 25 years was at various companies in corporate finance. Some big ones, Glaxo Welcome, which I guess that was GlaxoSmithKline, Home Depot, Equifax. And then the last 11 years was at a big consumer products company in a divisional CFO role. That was here in Atlanta. And about three, I guess it’s probably November, I made a decision to transition out of corporate America and with some colleagues of mine that I used to work with, formed a fractional CFO company. Some people refer to it as business advisory firm. And it’s called Burn the Ships. That’s the name of the company. And so, yeah, we’re in the process of just getting engaged in the community, you know, looking for companies that could use our services.
00:04:56 – Rico Figliolini
So tell me, I understand the burn the ships part, but really what inspired you to name burn the ships financial?
00:05:04 – Alex Wright
So, you know, when I was making the decision to leave corporate America and, you know, that’s kind of all you know, it’s, you get comfortable with that and to make that, you know, giant career change you know it’s, it can be kind of scary. And I happened to be reading a book at you know during this time when I was trying to figure out and do I want to do this and the name of the book was called actually burn the boats. And the book is about it’s written, I can’t remember the guy’s name, but he’s an entrepreneur serial entrepreneur and the gist of the book is not to have a plan b. And you can apply that concept to really anything, whether it be your marriage or training for an athletic event or starting a business, that something that’s going to be challenging and require your full effort in order to succeed, you can’t have that thought of, well, if this doesn’t work out, I’ll just go back to that. It has to be a total commitment. So that phrase is a metaphor for total commitment. You know, there’s a, not to go into much of the history, but, you know, the phrase comes from, not to go into a lot of history, but of Cortes when he was exploring the coast of Mexico. He had been tasked with that. And he gets there and discovers that, you know, there’s the Aztec Empire is there and decides, hey, I want to go into the bowels of Mexico and see what’s going on there. He just had a few hundred men with him. These guys that he had with them were apprehensive, obviously, because he wants to march into the jungle, the unknown. Plus, their orders were to just explore the coast. Well, his solution to that was, I’m going to eliminate the plan B. And the way he did that was he literally burned all the ships. There was now no way to go back. It was succeed or, in their case, die. So that phrase is about total commitment to the mission. And it really, at that time, it rang, just struck a chord with me as I was trying to make this decision because that’s a big change in a lot of different ways. And so I really just loved the story, that idea of total commitment. And so that’s the brief background or as brief as I could make it, where that phrase came from, because I just loved that story about the, you know, the commitment. Those other, not to go on a lot of my other, you know, kind of pursuits that I’ve got in my life, but, you know, different, whether it be especially like athletic things or projects, some of the things we’ve done with the city where it’s only going to succeed, you know, totally buy into, you know, what we’re trying to accomplish, the total commitment. So that’s the, that’s the name. And you know another, some of the advice I got was you need to make the name evocative so when someone hears that name, I think what does that mean? You know versus opposed to a right CFO services.
00:08:27 – Rico Figliolini
Yeah, no I totally agree with that branding is key to to a lot of what we do and get people remembering. And I can appreciate what you’re saying too because having, I mean I have not worked in corporate environment except for a couple of years. And I’ve been on and off a business owner and then working for a company and stuff. So I’ve been on both sides of that so it’s a little different. But you’ve, your whole career has been with corporate large companies, so I can appreciate that jumping off the ship almost and not going back is really scary, I’m sure. So your experience has been as a divisional CFO at least for the past decade or so, I guess. How do you think that that’s going to, how does that shape the services that you’re offering through Burn the Ships Financial?
00:09:23 – Alex Wright
So in this role I had, when people say, I worked in corporate finance, that can mean a whole lot of different things because in larger companies, the finance department’s quite large. So the role I had, in this business, and this company had probably 15 businesses, and as a divisional CFO, you’d be embedded in the business. And what that means is you’re at the table with the decision makers actually helping run the business. From generating sales to making, say, manufacturing more efficient to how can we ship more efficiently to negotiating with vendors for better terms, you name it. You had exposure to that. So the relevance of that is you’ve seen, now granted, maybe it’s a bigger scale, bigger numbers, but the challenges of making a business successful, you’ve had exposure to a full P&L balance sheet, just like for a small company. And so that allows you, the reason that’s translatable is ultimately what, when companies hire someone. As a fractional CFO, really what they’re looking for is I’ve got a problem. I’ve got a pain point and I need someone to help alleviate that pain to make that, help take that problem away. So it’s really about problem solving. So running a business in the finance role is ultimately about solving problems as well. So I feel like the skill set is very translated because that’s what I did for 10 years, which was solve problems to make the, our business more financially successful.
00:11:13 – Rico Figliolini
In the practical way, can you give us an example, without sharing the company you worked with I guess or you know particularly, but is there an example that you can give of how that translates in an actual real life story?
00:11:30 – Alex Wright
Yes. So now you know at a larger company it’s especially when it’s publicly traded, you know, it’s all about how do we get our earnings per share up? You know, the company is normally pretty stable. And like, say, a smaller company, they might, in some cases, might be fighting for survival in some instances. So a little bit different scenario, but ultimately it’s about how do we make the company more profitable, whether it be small or big. And so an example of something we did at this larger company is, we were in a market where there wasn’t a lot of growth on the top because it was an industry that was actually kind of shrinking. So how do you grow profit if your top line is stagnant at best or maybe just growing through price increases, very low single digits? So one of the things that you could look at is, let’s look at our product, the actual composition of the product. So we are actually a manufacturer. Are there ways that we can make the product that we’re producing less costly, but hopefully in the process also make it more effective? And so in this instance, the product in this case was grass seed. You’re thinking, well, what can you possibly do to grass seed? But in today’s world, they actually take the grass seed and they put a biostimulant around it so that when the seed goes out, it has a much higher probability of germinating. So what you would look at is, what can we do with the stimulant to change the makeup of it, change the composition where it’s, maybe the germination is even higher, but we’ve substituted some type of material that costs less. So in those instances, you’re working with an R&D department, you’re marketing people. And so in this instance, we did that over a series of five years, switched all of our, you know, changed the composition of our products. And so the ultimate takeaway for that was we increased the margins for the business by about a thousand basis points. So what that means is let’s say your margin was 30%, now it’s 40%. So that’s, and that drops straight to the bottom line through that. Something is, it wasn’t simple, but you know, instead of saying, well, there’s nothing we can do because we’re not growing is to basically look at everything on the pan out. What are, you know, areas that we could look at? I mean, you could apply that to your own personal life. I’m trying to cut back on spending and you go through and look at every expense and explore it. And maybe we don’t need the 1G, you know, internet. Maybe we just need the 500 megabytes and, you know, no stone uncovered. That’s the way we had to operate and I think that’s very translatable skill for smaller businesses because most likely they’re going to be even more cost conscious than you know a bigger company that’s got you know, more resources at their disposal.
00:14:45 – Rico Figliolini
So it’s really looking closely not just at the books but at the process of what companies do, right?
00:14:52 – Alex Wright
That’s exactly right. So one of the things when I’m, and this is before I transitioned, you know people would say well you know what does finance do? It’s just kind of this broad term and I would always describe it as in three pieces and it’s very simplistic, the first the most basic part is the gathering of of information. And that could be billing AR, AP like in a big company that’s completely automated, smaller company it might not even really exist. The next level is you’re taking that information, you’re analyzing it, you’re putting it into a reporting format. At a bigger company, not completely automated, but mostly automated. At a really small company, especially like reporting, the small business owner, his financials might be his bank statement. That might be the limit of what he’s got. And the third part, and this is really where finance differs from, say, accounting, is. You are going to the decision maker and you’re saying, hey, if you pull this lever, this will happen over here. You’re giving them actionable data, advice, if you will, on how to drive the company, whatever the company’s financial goals are, giving them suggestions how to do that.
00:16:17 – Rico Figliolini
So it’s also, I guess. You know, if I look at it from what I do a little bit, from my business and stuff, every business is somewhat the same to the degree there’s peaks and valleys. You might not always have the same trend line of revenue coming in and stuff. So it’s finding how to maximize the use of the money that’s coming in and the money flowing out. Maybe it’s the manufacturing or the service side and how that’s being done. Whether that’s parts being delivered or how it’s being ordered and such. So you’re looking beyond just the numbers on the books. You’re trying to optimize the way a company’s doing business behind the scenes.
00:16:59 – Alex Wright
That’s right. And that’s the thing I was talking about being embedded in the business, being part of the decision-making is, again, looking at the full P&L. You’re not just reporting the news you’re trying to influence what’s going on. So you might be looking at in the course of a day okay how do we make our you know logistics more efficient. You might be looking at hey what’s the ROI on this marketing spend. You know any anything you can do to you know drive profitability. And that you know I guess that’s one of the upsides of a publicly traded company when you’ve got that pressure that quarterly pressure if we got to make earnings you know you’re looking at anything and everything all the time. Now there’s downsides to it because sometimes to make the numbers look a certain way things will be done that maybe aren’t super logical but you still have that relentless pressure to become more efficient to drive costs down as much as possible.
00:18:02 – Rico Figliolini
I think with certain types of business, like you said, the private business, smaller businesses, the owners tend to, the job keeps going, right? Three years will pass before you know it. Maybe they’re not optimizing their cash flow properly. Maybe they’re doing the work, if you will, and not really looking at everything because money’s coming in. Everything seems fine. They may not see even the trend of how things are going where maybe it’s going bad, but they’re not seeing it yet because maybe they have the revenue there. The cash flow is there. They might not see it for the next three months. And all of a sudden, they start realizing, whoa, this is bad. We’re beyond, why didn’t I see this before? So how does the aspect of what you do as a fractional CFO, let’s say, how will you give that foundation to these businesses? What’s the process, if you will?
00:19:01 – Alex Wright
Well, I think that obviously each company is different, right? You have to go in and see what, if any, processes they have. But I think if you make the assumption that they don’t, kind of your point, they’re just, you know, you’ve got this entrepreneur. They’re really good at making pencils. And that’s what their total focus is, selling those pencils, just growing, growing, growing. You know, they don’t really have a whole lot of time to, you know focus on the finances other than making sure they got enough money to meet payroll or buy anything. I think the key thing when you go in, in a situation like that is, you know, to talk to the owner or the founder, you know, understanding what is it that, you know, what are your, you know, try to define the goals besides just staying afloat, you know, kind of help them sit down. Okay. Let’s put this pen to paper. What is it you’re, I’m going to make something up, okay you’re doing 500,000, million in revenue and you want to get to a million and a half in two years. Again I’m just making this up. You know in the larger company it would be you know to be a budget or they’d call it a you know five-year plan it’d be some kind of structure you know a guide post if you will. I think that’s the, I mean you could apply that to your personal life. Like okay I’m trying to you know, retire at age 65 or I’m trying to lose 20 pounds or whatever it might be, whatever that you’re trying to accomplish. You’ve got the saying about if I fail to plan, I plan to fail. So I think that’s the key thing is to understand from that owner what it is you’re trying to accomplish. And then once, because ultimately it’s their business, you’re there to help them be successful. So once they’ve articulated what those goals are, then one of our jobs would be, okay, let’s lay out a plan to see if we can get to that. Because in some cases, you know, my experience has been people that are entrepreneurs, when it comes to forecasting financially, they’re not always the most realistic because they’re normally going to be really optimistic. I can conquer the world, which is you need that to be an entrepreneur. But one of the jobs of finance is to kind of poke holes in arguments, not to discourage people, but to make people think realistically, okay, can we grow from a million to a million and a half in two years? Understanding, you know, what is there a path to do that that’s realistic? And having those conversations with, you know, with these guys, because in some cases you’re bringing up things that maybe they haven’t thought about because they’re so focused on the here and now versus looking a year or two out that that’s just not really what they’re focused on because, again, they’re trying to grow the business.
00:22:08 – Rico Figliolini
So when you come into a firm, for example, you know, obviously people, you know, you want to build that foundation without the cost of a full-time CFO. I mean, that’s the idea, right? So work with me for a minute. In an ideal world, you would come in for a few hours or whatever that first month and then how would the rest of it work like is there a maintenance level that you provide? Quarterly stuff you provide? So give me in brief what that would look like to someone.
00:22:45 – Alex Wright
Right. So again, each company is going to be different but really kind of two levels, and I’m simplifying this, but really two levels of service. And you can pick one or the other or both. So let’s assume we’re talking about a company that we used an example earlier of the finances are literally the bank statement. I know how much cash I got. That’s kind of an extreme example. So we use that one as our example. So in that case, they don’t have a P&L or balance sheet. They don’t really know what’s going on other than, you know, how much cash they got in the bank and maybe in their head, they’ve got kind of a gut instinct of what’s going on. So in that instance, you know, you’re going to have to come in and create a structure that will allow you to build a P&L, which is, you know, the foundation of any type of forecasting or budgeting. You’ve got to have that initial document. And to get to that, you’ve got to go in and take basically all their transactions that, you know, are in their bank statement and create what’s called a trial balance, which is going to have a chart of accounts. Basically, all that is coding where, you know, okay, this is travel and this is, you know, sales and it’s basically, you know, accounting 101, right? And so that base level of service would be something like that plus reporting that goes with it. And that reporting you would get through programs like Microsoft power BI that can do you know anything at the like that but you’ve got to have the you know the numbers formatted. So that would be a basic level of service and the first time that initial transition that would be time consuming because you’ve got to you create something, a structure that’s not there before. But then after you’ve created a structure you know each month you’re just really just updating, you know the results putting them into a P&L format. And if we think back when I was talking about the three levels of finance that’s really like the first two levels combined. So that’d be like a fixed fee you know for that service almost like a subscription. The second level of service it’s more like what that kind of like that third level I was talking about before where you’re sitting down with the decision maker and you’re telling them hey, this is what’s going on with your business. And depending on if they wanted to have, layout objectives, then you talk about the progress each month of how are we progressing versus these objectives that we’ve laid out. And if we’re off course, what things can we change to get you back on course? And so that would be an in-person review where, the analogy I use is that movie, The Matrix, if you remember, they’ve got all the data that’s doing this, right? You can’t read it. And so if you’re not in finance, often people struggle to, you can give them 20 reports, but if they’re not a finance person, they’re often going to be like, I don’t really understand what this is telling me. That second level is, it’s really about storytelling, where you’re taking the information and you’re telling the owner a story, you know, not in a fictional way, but this is what’s going on with your business, but you’re translating it in a way that is easy for them to understand, versus if you’re just talking about debits and credits, they’re going to be lost with that.
00:26:21 – Rico Figliolini
So if they already have QuickBooks online, for example, they’re already getting reports, you’re at that stage already, but you’re able to tell them more than that, what the reports give them in numbers, because you’re looking at all of it, right? Holistically almost.
00:26:38 – Alex Wright
That’s correct. So you know a lot of companies will have you know they’ll have a controller, bookkeeper, you know maybe both of them. And so in my you know previous life I had plenty of accountants that worked for me and really what their job, and I’m simplifying and this isn’t to say anything negative about accountants, like I said I’ve worked in accounting. But their job really is to tell you okay this is the number and this number is correct. But if you ask them well okay that number is that’s a number ten, last year it was a five, why did it go from a five to a ten? That’s really not what their role is in most cases. So they’re challenged to you know explain the why part of it right? And so that’s where, that’s really where finance comes in to explain what is going on. And not just report.
00:27:36 – Rico Figliolini
And not just explain it. I would imagine if, from my point of view, you might explain why that went from a five to a ten, but you should probably be able to give me advice on, you know, where can we take that from now? You know, why is this? I know the difference is there. I knew it grew. Maybe it grew for this reason, but you might be able to tell me how we can adjust that, right? I mean, the whole idea is, for you to provide guidance. So almost like a, what do you call it? A person that, the accountability partner, if you will, in this.
00:28:15 – Alex Wright
Yeah. Well, that’s the great thing about, you know, having a budget is that you’ve, again, we were using examples earlier, but you could apply it to different parts of your, you know, personal life, but having that objective. If you don’t have that objective, then you don’t really know. It’s like driving a car. You’re trying to get somewhere, but you don’t have a map. You’re going to struggle without that map to point you in the direction you’re trying to get to.
00:28:45 – Rico Figliolini
So now we’ve got here, does technology play a part in what you do as well in financial advisory or in this type of field?
00:28:59 – Alex Wright
So the, remember when earlier I was talking about the kind of the three levels of not services but you know what finance does, and what’s occurred over the last 20 or more than 25 years is that systems like say SAP or Hyperion or for these large ERPs is they have really kind of flattened the work structure of companies because what they’ve allowed is it’s really like an early form of AI. Is they automated you know tons and tons of functions that before there would have been literally like armies of people you know just doing kind of mindless work almost and so technology, now some of these small companies you know they’re not going to have an SAP or Hyperion but when we were talking earlier about power where that’s like Quickbooks but on steroids the kind of things that can do. But the reality is, whether it be QuickBooks or Power BI, if you don’t have that basic level of the information formatted, the magic can’t happen without that. So ultimately, at the smaller companies, there is some manual aspect of, I’ve got to code this expense correctly, input it. So the technology, at a smaller company, you know, that doesn’t have an SAP or Hyperion or Oracle is really more in the, you know, the reporting phase, the things it can do once the numbers are formatted correctly. It’s almost mind boggling now that the danger there is you can have too many reports. I can produce 30, 40 reports, but it’d be too much, you know, information. And that’s the, so when people talk about, well, I got QuickBooks. or even got Power BI, if you don’t have someone there to interpret it for you, to say, well, this is actually what this is telling you, it’s a very limited value. Like we were, again, using the Matrix example of it’s great, but if I can’t take any actions based off of it, then I don’t really want to do it.
00:31:15 – Rico Figliolini
Right. And I can see that in a world where a company might have two, three, or four different credit lines using them for a variety of reasons. Well, the financial planner might come in and say, why do we have these two where your APR, your interest rate is this high, you’re actually utilizing the wrong credit line or, you know, there could be a variety of things there, right? Let’s look a little bit at experience. As a founding member of Peachtree Corners, the city of Peachtree Corners since 2012, how has the involvement in local government influenced your business perspective? Has that influenced it at all? And where does that go?
00:31:57 – Alex Wright
The thing that I, kind of a, not a comparison, but an analogy is, I was talking to someone about this the other day where we started the city. There was an election to whether to have a city, and then there was an election to elect a council. So we had seven people who, for the most part, didn’t know each other. And I mean that was the city, there was no city staff there was no anything. So the reason that’s relevant it’s almost like a startup where we’re like okay we need to find someone, it’s like you don’t know what you don’t know. You had to go find people to kind of help us get started and then there’s those growing pains of whether it be the relationships amongst the council or you know finding the right people from a staff standpoint to be part of a city startup because if you think about all the cities in the country, very few new cities. That idea of a new city, it’s not unique to Georgia but you know prior to say like 2005 that wasn’t something that was happening here. So it’s that, there’s only certain people that want to take that risk. I guess it was kind of like going from a big corporation to a startup, it’s you got to have the right you know mindset and you know kind of fire in your belly to do it so it’s being part of something and seeing it grow from you know literally the seven of us in a room one day like meeting each other to you know what there is now. It’s what I envision starting a company would would be like. And you know maybe the the comparisons aren’t you know the correlation not completely you know accurate but I would think for sure there’s some you know similarities those same kind of decisions we had to make about bringing the right people in at the right time and you know just being able to get along. Because at a smaller company I would think those relationships are, the importance of them are more pronounced because there’s fewer people. Versus at a larger corporation not that the relationships aren’t important but you know the success or the failure of say like working at the home depot headquarters is it going to be based on you know just a you know my relationship with somebody because there’s 400,000 people that work there.
00:34:17 – Rico Figliolini
Yeah, I think part of it too is you’re starting, you know, the city started with just, you know, with a certain amount of revenue because it took over some of that revenue being a city, franchise taxes, business licenses, but you also grew into a budget. And then as the city grew financially, I know it’s not a business, but you all treated it to some degree as a business, right? You didn’t spend money you didn’t have, or if you did there was a reason you knew where the revenue might come in from whether it was a grant or a loan or whatever it was. I’ve got to say that the city has overall done it responsibly. So has any of that informed the way you know or have you used your experience there you know working with that type of finance too?
00:35:08 – Alex Wright
So, you know the analogy I use sometimes with people is like the city council relationship, say, to the city manager is similar to in a company, a board of directors to a CEO. So that, you know, being a role, you know, because I was never on a board of directors at a company, you’ve got to be way up or probably older than me normally, you know, to be in that role of coming up with policies and then entrusting someone to execute those, you know, definitely gives you a different perspective. You know, running an organization because my career had been on the implementing people’s policy, you know, taking that directive from on high and implementing it and, you know, bringing it to some results. So to have that perspective from the other side has been, I think, good because, you know, I sit there and think about not too many people get that opportunity to be on the other side of the, you know, the table, if you will, to come up with policies. And trust other people, find the right people to enact those and make them successful.
00:36:20 – Rico Figliolini
Going from other experiences, your military service as a naval officer, has that also provided any experience that you’ve drawn on? Excuse my black cat.
00:36:34 – Alex Wright
No, you’re okay. That was a little more tricky. I think the thing that, where that part comes in, and this was really more about, you know, the why of, you know, I wanted to get into this type of work. Because when I was making the decision to leave corporate America, you know, I was in a position from a career standpoint, financial standpoint, a personal standpoint, you know, kids rolling off the payroll. There’s an opportunity here to do something different. And I did a, I don’t know if you know what a SWOT analysis is, but strengths, weaknesses, opportunities, threats, did like a SWOT analysis of myself and thought, what is it that, you know, now in this situation where I don’t have as much responsibility as far as taking care of other people, like what really brings me, you know, satisfaction, fulfillment, besides just, you know, helping a company get that EPS each quarter. And, you know, the common theme as I looked at all these different things I’ve been involved in. I looked at my military experience, looked at serving on the city council. I looked at the 20 years I coached kids sports. All three of those things are thinking, how the heck are those three related to each other? But the common theme, because each one of those brought me satisfaction in different ways, was that you’re helping other people in each of those instances. You’re serving other people. You’re making other people either successful or in the case of, you know, the military is really about, you know, serving the nation, but it was doing stuff for other people. Again, differently. And I thought, how do I take these skills that I’ve built up over 25 years and do that in a way where I can help other people be successful? Because one of the things I would constantly hear from small business owners is, we were kind of talking about it before where they’re really good at you know that making the pencils or whatever it is but they struggle with finance because that’s not what their you know expertise is. And in a lot of instances can’t afford you know to bring somebody in or they don’t they don’t need someone full-time. And as I learned more about that industry I thought this could really fill that that impulse, if you will, you know, I’ve got about how can I help other people be successful? And in a way where you go in, you take this person’s got their whole life’s work tied up in this business. Their heart and soul in it. And to be able to go in and help them eliminate or alleviate some of their pain points that are preventing them from being successful. That really appealed to me much more than, well, I’m just going to go back into I’m going to call it the matrix of corporate america life we’re just going to you know get that EPS up three cents. You get to a certain point in life where like I’d really like to a bit of focus more on giving back. Just like with the you know city council it pays eight thousand dollars a year an occasional free t-shirt but you just have a great sense of satisfaction when you go out to the Town Center and you see like the the playgrounds and stuff we’ve built out there and you see all those people enjoying themselves you think you know I had a some small part of you know bringing that you know joy to these other people so it’s that same you know you want to do the same thing but in this different you know industry.
00:40:16 – Rico Figliolini
Now and I can see that. I mean you brought a lot, you’re passionate about the things you do. We were talking about a little bit about the industries that you’re passionate in, the areas of like CrossFit and stuff. So, you know, a person that’s driven that way and that’s sharing. I mean, you’re doing the Memorial Day Challenge for kids on Fort Payne, which is our obstacle course. That’s probably one of the best in the city, if not the best. So I can see that. I mean, giving back to the community and all that. And working with entrepreneurs, startup businesses, or even just businesses that have been around for a while, providing them with information. And you’re right. Some people, number one, either they think they can’t afford it, but they really can’t ignore it, right? Because if they’re going to grow their business, they really need to know what those numbers mean. And, you know, I mean, you’re right. Bank statement or even a QuickBook report. I mean, fine, so you can see your business is growing, you can see its profitability, but you may not see the things that are coming, which those numbers can tell you. It’s almost like being a futurist with it, right? Or being able to tell the future with numbers, if you will. And those numbers don’t lie to a degree. So giving back to the community as a business leader, as a political leader, I mean, I know that’s part of what you do. The relationships you’re building with Burn the Ships Financial, I mean, you just started out. This is your first few months in business. And you want to be able to give the feedback that you can to them. So tell me what, you know, what do you look ahead? What’s your company’s long-term goals? We’re towards the end of our interview here. So I just want to know where you think you’re going, where you want to be in a couple of years. What type of clients, what industry maybe. What do you want to be? Tell me.
00:42:24 – Alex Wright
So one of the things that I’ve done you know as I was learning about other companies that play in this space you know some of their you know limitations whether it be bandwidth or skill set. One of the things I did is I reached out to a lot of former colleagues and said hey would you be interested in going on this journey with me? Like hey, don’t quit your job but you know would you like to you know partner with me on this? And literally every person I reached out to was like, yes, I would love to do this with you. They were very excited about it. The reason that’s relevant is, it gives us a scope of skills and bandwidth that I would argue most of these other companies just don’t have because they don’t have access to these people that have worked in companies. The reason I mentioned that to your question is, some of these folks that are really you know fired up about you know doing the business initially, I was just, I’m just going to do it myself and take on four or five six customers you know that have compelling stories but as these other folks really wanted to get involved you know I’ve been rethinking that just see how things go but you know it could be that things take off and we’re able to some of these folks come on board we might you know make it a bigger plan. I just wasn’t expecting the level of response I got about how excited people wanted to do this as well. So that’s TBD, obviously. We’ll just see how that goes. But money is a very personal thing, whether it be our personal money or a business’s money. It’s really about trust. And obviously, you’ve got to build that over time. I’m anticipating, you know, it’s going to take several months where, hey, you got to inform people they have moved into this space and you’re spending a whole lot of time meeting with people and just telling them what I’m doing and, you know, getting the word out that I’m here to, you know, get involved to help people be successful. So we’re just, we’re going to have to wait and see how that goes. See what kind of growth opportunities there are. But, you know, Peachtree Corners, that’s over, I want to say about 2,500 businesses. They’re not all in the space that I’m looking to get involved in, but it’s a great location to be in, in terms of this industry.
00:44:51 – Rico Figliolini
For sure. We’re a growing city, so it’s never-ending. We’ve been speaking to Alex Wright with Burn the Ships Financial. Just started a startup of his own. A city councilman with City of Peachtree Corners here as well. Alex, I appreciate you being with us. Can you tell people where they can find more information about you, your website, your contact info?
00:45:15 – Alex Wright
Yes. So website is just like the company name, Burn the Ships Financial. We got that up a few weeks ago. And that’s probably the best place to go. It’s got my contact info and some of my partner’s contact info on there. Yeah, that’s going to have all my info. I was going to say you could go to the city website, but at this point, everything you would need would be on the company website.
00:45:46 – Rico Figliolini
In fact, on the homepage, there’s a phone number, email address, and a schedule a consultation button. So it is burntheshipsfinancial.com that you should all visit. And check out Alex Wright and his team and the services they provide. Hang with me for a second, Alex, but everyone else, thank you for joining us. Appreciate your support. Appreciate the support of evremodelinginc.com and Vox Pop Uli as well for supporting our podcast as well as the magazines and the digital work that we do, newsletters and all that, and the journalism that we produce. So thanks again to everyone. Alex, appreciate you being here. And if you all have any comments, leave it in the comment box, depending where you are. YouTube, Facebook, or just email Alex and he’ll be able to answer your questions.
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