Business By The Bay: Recent Episodes
Ajay Saini
San Francisco Bay Area has given the world some of the greatest business success stories. Business By The Bay is established to share the wisdom and experience of the business leaders. The purpose is to talk about challenges and possible solutions that will help business owners to get better. The show is sponsored by Payroll Vault. Payroll Vault is a boutique-style local payroll service provider for small businesses. Payroll Vault fully handles the payroll tasks and take over complex payroll activity from the business owners so that they can focus on what they do the best – running their companies.
Arnav and Vallabh, two high school students, have been dedicated to community service from a young age. Through their experiences, they discovered that helping others brings out the best in you. Motivated by this realization, they founded the non-profit organization "Open Arms Refugee" to address the harsh realities refugees face daily.
The journey was challenging, as reaching out to refugees proved difficult. Many are hesitant to meet strangers, struggle with English, and lack access to technology. Instead of simply providing short-term aid like food and supplies, Arnav and Vallabh focused on empowering refugees with education and resources for long-term impact. To better understand and assist refugees who have endured trauma, both earned certifications in emergency services and trauma care. They also partnered with other organizations to amplify their impact and raise awareness.
During our conversation, Arnav and Vallabh shared valuable lessons they've learned along the way: understand your audience, offer meaningful support, build partnerships within the community, step out of your comfort zone, and experience the joy of serving others.
Organizations strive to position themselves as trusted partners, aiming to attract and engage their ideal clients. Leveraging the power of storytelling through captivating videos is an effective way to stand out from the competition and showcase core values. Creating high-quality videos is very beneficial; however a well-planned marketing strategy is also crucial to maximize their impact and achieve the best results.
Stephanie emphasizes the importance of a solid process in producing compelling videos that feel natural and authentic. She dedicates significant time to preparation before filming to ensure every video aligns with this vision.
Caleb has worked with many businesses and he says that time is a challenge for business owners as they have too many things to look at. Having the right team to support the management makes it easier. In the initial phase, founders cannot afford an in-house HR person because there is not enough work. At the same time, when you are hiring your first employee or converting contractors to employees or moving beyond the initial core team, it is important to have HR support. Getting outsourced HR help is usually a good solution. For example, hundreds of employees at OneDigital are helping their clients with a variety of tasks like talent acquisition, onboarding, offboarding, being part of leadership meetings to make sure HR is in sync, management coaching, HR platform support, compliance, benchmarking of compensation & benefits, etc. Caleb believes that in order to be successful, it is better to keep messages simple and have conversations keeping in mind what is in it for the other party.
Vladmir built a 'get the job done and client first' culture from the time he started his outsourced IT company. He mentioned that many small business owners think that 'we are not at risk and one of us can handle our IT environment because we are good enough in using the technology or even have a friend who can help us'. Vladmir says that the important question a business should ask is that what would happen if their data is lost or compromised. If the answer is that it will be a big disaster and they are not confident in securing it internally, it is critical to hire an outsourced IT company.
Aman believes that there is a CRM available for every business owner. A professional integration consultant can help pick the right one because he or she will have experience of working with multiple CRM solutions. He thinks two common reasons CRM implementations fail are lack of standard operating process and top management not using the system themselves. He also sees that many struggling business owners are self employed and micro-manage most of the tasks. So they don't own businesses in a true sense. He suggests that to be successful and scale, it is better to macro manage.
Maile Collmer, president of northern California chapter of the National Speakers Association (NSA) was an introvert growing up and today she is an in-demand speaker and helping people become master networkers and generate a lot of referrals. She encourages people to hang around those who can inspire us to become better. NSA provides great environment for people to become better speakers. NSA hosts various events, podcasts and has an academy to provide excellent support to people who want to maximize their speaking potential.
One may contact Maile at https://contracosta.asentiv.com/our-team/
Business owners don't know what they don't know. Small business owners try to wear too many hats and there are areas where they are not good at. For example, financial literacy or tax laws are typically not the focus areas of business owners as most of the energy goes into the products or services they are offering. A conversation with an accounting professional is a must at the start because establishing the right business entity will have a significant financial impact. A good accounting professional should act as a trusted advisor, be truthful and should be willing to connect with the right experts in areas where he or she doesn't specialize in, and should also be a good communicator. Joe loves to discuss the possibilities of Section 1202 and R&D credits with his clients because these are great for eligible businesses. He believes that business owners should focus on doing themselves what they are good at. For rest of the things, hiring the right partners will add lots of value to the business.
When businesses grow fast, many times they don't have a good HR infrastructure in place. People start a business because they love their products or services they are offering, not because they love HR. So things like a good job description, employee handbook, onboarding, performance management, etc. may get neglected. Companies should look into if they are ignoring key HR tasks and even the ones they are doing, are they spending too much of their valuable time on those tasks or not. Outsourcing certain tasks to good HR professionals may save companies lots of problems and can also help employees feel that the management values them. Stacey believes that tenacity, perseverance, consistency and looking for ways to get better help businesses succeed.
Jeff Katz explained various senior living options for the elderly population. Multiple challenges like physical or mental health issues, loneliness or financial costs may make it difficult for seniors to stay in their homes. Independent senior living, assisted living or memory care communities can be good options and it is not easy for seniors or their families to find the right community. A good senior living coach can help through this process. Jeff believes that for a senior living coach or for that matter any business owner to be effective, it is very important to be a good listener and continuously look for building long term relationships.
Rene discussed various aspects of HR. Small and mid-size companies struggle to attract the best talent because they don't have deep pockets to compete with the big companies. Then keeping the employees engaged and retaining them can also be very challenging. Rene suggests that looking for soft skills can widen the candidates pool and then specialized skills can be taught. She suggests that for 100 employees, a company should have a dedicated HR person. For less than that a part-time HR person can be engaged, either in-house or an outsourced professional. It is important to have the right personality as an HR professional who can connect with both the management and the employees. Rene believes that having a mindset of coming up with a creative solution is very important in business because there is always a way to get the job done.
Neil explained that the majority of the seniors fall in bedrooms and bathrooms. Some of the available solutions provide wearable devices that the seniors don't wear in the bedroom and bathroom. Camera based solutions are also not practical because of the privacy issues. Neil's connected home solution offers the following:
- Radar based sensors that are installed on the walls or the ceilings and have no cameras to maintain privacy.
- AI based learning that notices any change in pattern. Then make use of the remote care coordinators to proactively check upon the well being of the seniors.
- Use a bed sensor to issue an alert for people who get out of the bed when their health doesn't allow them to walk without supervision.
Neil says that having mentors and the ability to listen actively are big factors that have contributed to his success.
Bryan was a product manager in the tech industry and while recovering from a serious injury, he realized that eating healthy is not easy if you are eating out. Bryan started a restaurant business because he believes that you can be your best self if you are healthy and you can give all the gifts that you have to others if you are healthy physically, mentally and emotionally. Food is the foundation for being healthy and so his restaurant offers hearty meals without using gluten, soy, dairy, peanuts, refined sugar and seed oils. He offered some great suggestions for people who are planning to enter the business world. He said that first think about why you are starting one and when the business would be successful, what your life would be like and is that actually what you want. Secondly, figure out as quickly as possible the most important assumptions if your idea would be successful or not. He also experienced that systems and processes that worked initially may not work when you see a good growth. So having the right leadership with clearly defined roles and outcome is very important.
CPA Chetan Shah says that most of the businesses come to him because they struggle because of not maintaining clean records. They are good at what they do in terms of products or services, but not necessarily in accounting. Not having the right advisory team, especially in the beginning when they are very cost conscious creates a challenging situation. He suggests that it is important to hire an accounting firm that has experience in dealing with in the areas you need help. As an example, a CPA focusing on individual tax returns may not be a right fit to support business accounting. He emphasized that it is critical to plan and know where you want to go.
Debbie Harris mentioned that convenience and marketing of unhealthy food are two big reasons people gain weight. As we are over scheduled, it is natural for us to pick the food that is easily available and unfortunately junk food is marketed well and is very easy to buy. Debbie explained that she got wonderful results for herself and her clients by balancing the hormones. It helps not only getting rid of the weight, but also ensures maintaining the ideal weight. Being aware of the food that works for us and having an accountability partner or mentor help people to stay on track. Debbie believes that her love for people and maintaining balance in life are two big factors that helped her achieve success in life.
Most business owners don't know the health of the business because they are not maintaining and monitoring the financial statements in a timely manner. It is hard to 'do it yourself'' because most of the time is spent on running the business. So it is better to have a good accounting professional helping the business. It is also important to find an accounting professional you can trust and it happens if the values are aligned. Shamal also suggested that it is important to hire well, both in-house and outsourced.
Joanthan Pop spoke about how from having a Music and Education major in college, he became a wealth management advisor. He sees that many of the successful business owners need help when it comes to retention of key employees and tax optimization strategies. He mentioned that if a business owner is looking for a good financial advisor, it is important to make sure the advisor acts as a fiduciary, is in the same space (for example specializes in working with businesses and not just focusing on investments) and is a good connector who has a solid partner network because one person or a team of advisors cannot be experts in every field. He also highlighted that having a written business plan is critical in making sure there are no blind spots and the business can continue to grow in the right direction.
Deborah Finestone spoke about her journey from being a journalist to starting her social media marketing company. She talked about her group training program, which is to help small business owners and non-profits who are not in a position to hire an expensive marketing agency. She says that quite often such organizations assign the social media marketing role to a young employee thinking that he or she has been active on personal social media and is comfortable with the various platforms. Being an active social media user doesn't mean that the person is also good at marketing strategies. As an example, one has to know the expectations from the social media marketing efforts - brand awareness, coming across as an expert, providing information, becoming likeable to the target market by sharing personal stories, etc. She suggested thinking about what the target market likes and creating content accordingly. Then analyze what types of posts are gaining traction and then consistently engage with your followers.
Creating compelling visual narratives can feel like a difficult skill to master. Mark Bullock shared his experiences and how he being an introvert with no desire to be in front of a camera has created thousands of videos. Following are some of the valuable suggestions he made:
- Willingness to learn and coming out of the comfort zone can produce incredible results.
- We don't need to become a TV news reader. Learn to be yourself because people like authentic people having real conversations.
- Willingness to be vulnerable can make you authentic. Remember you don't need to be perfect in every video because if you forget to make a point in one video, you can always create another one.
- 4.If you are willing to learn, share and express yourself, feel free to visit https://videosocials.net/ and click on 'Be Our Free Guest'.
JJ spoke about retirement solutions available to small business owners. He said that the California state mandate requires businesses with five or more employees to offer a retirement plan, else they will be fined. However, in spite of being a cost in terms of time and/or money, it also allows businesses to attract talent because offering good benefits to employees shows that they care about the employees. Also, there is a Federal credit available for the first three years to compensate for the cost incurred in setting up a new retirement plan. JJ suggests that there are many options available and it is important for the business owners to give time to come on a quick call and evaluate the benefits of going with a private company like Human Interest and compare it with the CalSavers state plan.
Al Arias outlined various strategies for saving on taxes, emphasizing an integrated approach to tax planning. This involves creating multiple business entities to enable business owners to minimize their effective federal income tax, typically falling within the 12 to 20 percent range. Through the strategic use of trusts and the structuring of business entities, business owners can achieve federal income tax free exit. For instance, Al loves separating the marketing function of a business into a distinct entity, say a C-Corporation. When properly configured, this separation helps avoid the affiliated ownership rules and leads to significant tax savings.
COBRA compliance: Yvonne described the COBRA compliance requirements and also the best practices for the employers. Do you have 20+ employees with group health plans? If yes, then Yvonne mentioned that there are federal and state penalties for non-compliance. Beyond the fines, non-compliance can lead to civil penalties that may make your company liable for medical payments, legal fees, and more. She suggests that the best time to discuss implementation of COBRA plan is at the time of setting up a group health plan because waiting till a qualifying event happens would result in panic for the business.
Are you struggling to keep up with the growth that is taking place in your company? Are you closing your books within 7 days or are you really behind with your accounting? Brit Summerill made some very good suggestions regarding best accounting practices and he recommends small businesses to operate with an exit in mind.
Dr. Shree Nanguneri explains his method to remove or reduce the 3 Ds - defects, delays and deviations from organizations. His team uses the socratic approach to not only fix the problems of his clients, but also train them how to handle issues on their own. They convert defects into delights, delays into 'just in time' and deviations into dollars. Dr. Nanguneri says that one of his keys to success has been having the right mentors.
Hiring the best talent is challenging, especially in industries where supply is less than the demand. Jason suggested that an employer needs to feed the hiring funnel and then have an efficient process to screen, interview and hire the right candidates. An employer needs to generate interest among job seekers, validate the opening, convince the candidates that the company is a great place to work and then close it.
Doug Kennedy emphasized on the importance of keeping an end goal in mind when we are starting the business journey. He said that businesses either grow or shrink. The tools and the people that achieved initial success may not be enough to continue on the growth path. Getting the right help becomes critical and Doug said that the 2GO advisory group offers solutions for executives for all lines of management.
Whether your organization is growing or finding it difficult to grow, Belle provided some great suggestions to make your company function smoothly. Some of the things she highlighted are as follows:
- Create roles, assign ownership, and build a system of well-defined processes.
- If there is friction, get to the root of the problem. For example, you may ask 5 whys.
- Make sure the role of your key performers are defined in a manner that is sustainable, reasonable, and logical. Else, it could become very painful to find a replacement if any of the key employees leave for any reasons.
Want to start a business? Rick Morgin says that so many people have mentioned to him that they wish they had known him when they were planning to begin their business journey. A good business or a franchise consultant can help people navigate through so many options out there, instead of following a hit and trial method. Once you open a business, it is extremely important to hire the right team and ensure marketing never stops. Rick shared his personal experiences and he believes some of the reasons behind his success are -
- Persistence
- Knowledge, being an expert in his field.
- Asking the right questions.
As a small business owner, have you ever wondered that the competition is tough and there are many people offering similar products or services? Realtor Yun Tong shared her business journey and explained what has made her very successful. Some of the useful tips she gave are -
- Be open to learn - take certifications and specialize in your field. Read! For example she learnt the truth and lies about why we buy from reading the book Buyology.
- Rather than looking for sales, look for ways to serve others and business will come to you.
- Network - we all have so many needs and if as a business owner you know good like minded professionals, you can help others and gain trust.
HR compliance can be tricky and ignorance is not an excuse. Attorney Robert Nuddleman explained some very important things which every employer should be aware of. For example, some of the common mistakes employers make are not addressing any issue when it shows up first or paying a salary when it should be hourly with overtime. Lack of communication and making the employees feel that they are not being treated fairly result in troubles for employers. To avoid problems, employers need to treat employees fairly and should also be aware of the employment laws by being proactive in educating themselves and their employees.
Bill Knowland explained the power of video marketing. A picture paints a thousand words and a video shows thousands of pictures. However, at times when businesses are on a tight budget, it is natural for the return on investment question to come. There are tools and metrics available that provide the impact of videos. He also mentioned the different types of videos an organization can create to reach its target audience - marketing videos, training videos, customer testimonial videos, how to videos, meet the owner videos, thought leadership videos, inspirational videos, interactive videos, etc.
Peter Niles explained the benefits of owning a franchise and also mentioned some of the disadvantages of owning a franchise. He shared his views on what makes a good franchise owner and also spoke about some of the businesses that have flourished in the last couple of years.
Trustegrity - building relationships, which results in the sharing of ideas, solutions, and opportunities. Laurie Pearce provided an overview of Trustegrity and how its members benefit from this networking and mastermind group. Laurie suggests that never give up because when the going gets tough, you may actually be very close to success.
Choosing a retirement plan can be tricky for a small business owner. Many states have mandated businesses to have a plan in place. Taylor and Parker provided good information regarding the options businesses have. 401K plans provide a lot more flexibility in comparison to a state Roth IRA plan. They believe that some of the reasons Farther has seen a good growth are that they listen to their clients, are able to offer the right solutions and have great communication.
We all know that health is wealth, but still for many people it is difficult to eat right and exercise well. Rebecca Walker said that there are various factors like availability of junk food, marketing and what is going on in our bodies that makes us develop unhealthy eating habits. There is so much advanced testing available today that under the guidance of a professional, one can overcome health challenges and maintain optimal health. She provided great tips regarding proper sleep and recommended getting morning sun and avoiding drinking tea or coffee for at least one hour after waking up. Healthy business people have more energy and it helps them work more effectively. Rebecca hires people who are passionate about their work and she says that having people in the right place results in optimal output.
Grow your network of diverse people to grow your business. Maile says that effective networking is a learnable skill. When we team up with other people, opportunities are exponential compared to trying to do things alone. She explains that when we are interested in others and understand them really well, we become unusually very successful. Maile says that networking with people is not taught in school. So people make basic mistakes like entering a room of business people to sell to the room, rather than through the room. Follow the law of reciprocity - give to others, work together and reap the rewards.
Vivek highlights the importance of getting the accounting under control. He says that when a business owner is looking at the accounting at 2 AM, then it is a clear sign to outsource the accounting function.
Patricia Snowden talks about the role Stay Pleasant Hill plays in promoting visitors to the city and region. The tourism industry was severely affected by the pandemic. Patricia provided some insight on how to look into the available data to update your marketing strategy. She believes that being a good listener and listening to a diverse group of people help a leader to lead successfully.
Mony Nop talks about leadership and what made him succeed against all odds. He explained his love for Livermore, why he is running to be a mayor and what all he plans to do.
Learning is a treasure. When students and industries collaborate, a win-win situation is created, and true development takes place. Dr. Dyrell Foster discusses some of the wonderful things Las Positas College is doing in Livermore, CA.
A small business owner has a lot on his or her plate. Judith Feuer provides an overview of the value a right financial advisor brings. She also talks about what are some of the common things business owners do that make them financially successful.
Plan to succeed as a successful business requires knowing where things stand and what needs to be done to achieve the goals. Joel Smith explains that rather than looking at accounting as a cost, small business owners need to look at outsourced CFO services as the help that can ensure the business is healthy and cash rich.
Kathy talks about how the Tri-Valley Nonprofit Alliance is harnessing the power of collaboration and creating a big impact by bringing in talented and passionate people together to share great ideas.
Candice suggests not to ignore your books, put yourself out there to network with the right people, and keep your business in a healthy state by being proactive.
Deborah Finestone talks about being yourself, creating a plan and creating content to reach more people and stop wasting time on social media.
Lorna Van Ackeren talks about how getting the right help makes it easier for people to go through a very difficult phase. When organizations believe in their mission statements and practice it every day, they are able to provide an excellent quality of service.
Sara Subbiondo talks about how the non-profit organizations she is working with are creating opportunities for the people in the community by teaching them the right skills.
Mony Nop talks about his inspiring life journey and factors that contributed to his success. He found solutions to numerous challenges life threw at him at an early age. Mony is grateful for his achievements and believes in giving back to the community.
Content is king. Priscilla Parra talks about building the brand by storytelling that leads people to action.
Business coach Paul Wildrick suggests business owners to work with a mindset that puts their companies in the best possible position to be sold for maximum cash. He talks about common mistakes business leaders make and things required to be highly successful.
Bookkeeping and accounting services can be tricky for small business owners if they try to do it on their own. CPA Steve Kau explains the approach one can take - do it in-house or outsource it, keeping in mind the budget available for business services.
Efficient organizations try to continuously improve the quality of their offerings, monitor costs, and add more value for their clients. A small percentage reduction in payment processing will result in significant savings for high volume businesses. Jessica Casto provides an excellent overview of the payment processing industry.
Marketing Advertising Specialist Michel Knutzman talks about how she gets referrals by asking her clients the right questions. She helps her clients by understanding their needs and connecting them with other businesses. The relational capital built by connecting professionals creates value for all.
Cold calling is tiring and conversion is poor, in spite of non-stop chasing the leads. Rick Silva suggests there is a superior way - let people chase you to buy your products and services. Listen to find out how.
Any employer with 5 or more employees in California will be required to offer a retirement plan by 30 June, 2022. Mike Schifferle made some valuable suggestions on how to plan it and the options that employers have. CalSavers is not the only option and may not be the best option.
Business has two main functions — marketing and innovation. Steve Koel talks about how to advertise effectively and generate the required demand for small businesses to grow.
Business and estate planning attorney Ralph T. Kokka talks about different types of business entities and the importance of building a strong foundation.
Jack Harrington, the owner of Franklin Management Systems, Inc., suggests small business leaders keep an eye on three key areas to ensure the business stays healthy - managing employees, managing costs, and managing cash flow.
Small business insurance coverage gets tricky for owners because they don't want to be underinsured and at the same time, want to keep the insurance costs reasonable. Bill Evans has been in the insurance industry for 21 years and owns his agency in Pleasanton, California. He talked about all things insurance here and gave some excellent suggestions on how to keep the right coverage.
Christine Sevier, the owner of Creating New Hope, shared factors that have contributed to her tremendous success as a trusted senior advisor. No matter how challenging the business environment is, Christine suggests that good communication, being proactive, and staying updated (continuous education) go a long way towards achieving success.
45% of new businesses fail within the first 5 years. Business coach Lisa Nichols, a two-time bestselling author, explains the reasons and what the owners can do to succeed.
Rain or shine, irrespective of the business environment, the Hope team continues to do what it has been doing for 41 years - helping the East Bay community by running some wonderful programs. Listen to Jennifer Hansen, CEO of Hope Hospice, and Marc Rovetti, Director of Philanthropy, as they provide an overview of what they are doing and also how Hope has done so well, in spite of the challenges thrown by the pandemic.
Maile Collmer, a professional speaker and business consultant, talks about growing your business by building a network of strong strategic partners that consistently brings quality referrals.
Is marketing a form of communication? Michael Liebowitz, CEO of Magnetic Mind Studio, tells us that people buy when their mind says, "you are like me". The key for businesses is to communicate meaningfully to attract more of their ideal customers.
HR for Small Businesses: What are the best HR practices? Kira Feick, owner of Ignite HR Solutions shared key insights on the following topics: Companies with HR issues, California HR laws, correct & best HR practices, HR employee relations, the importance of HR for startups, which HR solution is best for you, HR challenges and solutions, HR mistakes small businesses tend to make and how to overcome the critical HR challenges.
ERTC is a very important topic for small and medium sized businesses. Tricia Petteys, Co-Founder and COO of Payroll Vault shared some great insights regarding challenges companies are facing during the pandemic and how successful companies are utilizing the available help. Listen to what she has to say here if you want to find the money that the government is rewarding you for keeping your employees during the pandemic.
Attorney Lynne Hampton, a startup specialist, explained the huge risks small business owners take when they ignore compliance and don't maintain proper documentation. It is a lot easier and cost-effective to do it right from the beginning, rather than fixing it later.
Gil Rodrigues, Founder and CEO of White Rabbit Business Solutions, talks about the importance of networking in building relational capital, why many are not able to do it and how to become good at it.
Listen to business coach Dr. Steven Kirch founder of Business Culture Advantage making valuable suggestions to avoid common traps and do what it takes to become successful.
Manoj Singh, CEO of Acuva Technologies explains why and how he introduced Solarix, a high-quality UV-LED portable disinfection device, during the pandemic. He suggested that if you have a great idea, implement it and even if you fail, fail fast and your perseverance will deliver success.
Ashutosh Garg, CEO & Co-Founder of Eightfold explains how to hire on the basis of potential in an unbiased manner. In today's competitive world, using deep-learning AI can provide massive help to companies in picking the right talent.
CircleUp President & CEO Nick Talwar suggests that as the world goes increasingly digital, it is important for companies to develop processes or mechanisms for accumulating, tracking, and analyzing data. He provides an overview of how they are using data and AI to remove reliance on inefficient and manual processes, and eliminate bias from the decision-making process to provide merit-based funding.
On January 16, 2021, we will be on air at 10:00 a.m. (GMT-8) on 1640 AM KDIA Radio.
The first “Business By the Bay" talk show will focus on how to find the money for your business. You don’t want to miss it because you will hear some great actionable pointers. Be sure to tune in.