The Second Stage: Recent Episodes
Brendan Anderson and Jeffrey Kadlic
The Second Stage serves as an entrepreneurial forum to exchange ideas and best practices amongst peers. While each business is unique, most companies face the same obstacles on their path to success. The topics and trends addressed within this community of like-minded individuals will include financials and reporting, valuation and value creation, succession planning, human resources, technology, insurance and benefits, as well as many others. The show will be delivered from the perspective of the hosts who view opportunities from both an entrepreneurial and institutional private investor perspective. The Second Stage also shines a light on the significant impact that entrepreneurs and their growing companies have on creating a vibrant economic base.
With 2016 winding down, we feel it’s a great time for small business owners to reflect on their successes and failures (or better stated, growth opportunities) in the past year, and then begin developing new strategies that build on these experiences in the year to come. In keeping with the spirit of this show, cultivating cultures of continuous learning, we’d like to share not only our own reflections and experiences over the past year, but those of some of our post popular guests in this two part series. We have had the opportunity to speak with a wide range of incredibly talented individuals, all of whom offered their time, talents and perspectives to help entrepreneurs create the ideal environment for a thriving business. We hope, as in all of our episodes, to provide a few key takeaways to help guide you on your journey as you plan, grow and prepare for an eventual—and prosperous—exit from your business.
With 2016 winding down, we feel it’s a great time for small business owners to reflect on their successes and failures (or better stated, growth opportunities) in the past year, and then begin developing new strategies that build on these experiences in the year to come. In keeping with the spirit of this show, cultivating cultures of continuous learning, we’d like to share not only our own reflections and experiences over the past year, but those of some of our post popular guests in this two part series. We have had the opportunity to speak with a wide range of incredibly talented individuals, all of whom offered their time, talents and perspectives to help entrepreneurs create the ideal environment for a thriving business. We hope, as in all of our episodes, to provide a few key takeaways to help guide you on your journey as you plan, grow and prepare for an eventual—and prosperous—exit from your business.
On today’s episode of The Second Stage we welcome Bill Hubbard, Owner and Founder of Hubbard Business Counsel, to shed light on the newest of the crowdfunding options for both business owners and investors, Reg CF or Title III. In effect as of May sixteenth of this year, Title III allows businesses to raise equity capital online from non-accredited investors, unlike the previous forms of crowdfunding. We will discuss both the opportunities and challenges investment crowdfunding poses for business owners, as well as resources and internal steps to prepare your business, should you decide investment crowdfunding is right for you. Join us to learn more!
We are thrilled to welcome Joan Crain, Global Family Wealth Strategist, BNY Mellon Wealth Management, this week to The Second Stage. Joan works closely with wealthy families and their advisors to provide comprehensive and customized wealth planning solutions. We will speak with Ms. Crain about steps one can take to ensure a successful navigation of the transition from an active owner/operator to a business investor, post exit. Ms. Crain notes that it is extremely important for a business owner to carefully consider both lifestyle and psychological changes that accompany the transition from entrepreneur to investor. She will touch on the significance of having a good team of advisors in place, who the team should consist of, and the role each plays. Join us to learn more!
We talk often about the importance of great financial metrics and reporting as you establish and grow your organization. And it doesn’t stop with just having solid financial practices in place, but must be accompanied with a culture of transparency and accountability to empower your employees for better decision making. Today’s guest however takes the concept of being financially sound one step further, as he shares the importance of teaching your employees how to manage their own personal finances and the impact to not only their own life, but that of the organization. Mr. Clint Greenleaf, founder and CEO of Greenleaf Groups and founder of Greenleaf Book Group, speaks passionately about entrepreneurship and personal finances. He shares his own experiences working with employees and how implementing a brown bag lunch series, Personal Finance 101, was just the beginning of what became an ongoing education and modified version of open book management. Join us to hear the results.
At a certain point in the lifecycle of every business, there comes an awkward phase of organizational development where the complexity of a business is overcoming its team’s capabilities as leaders and the systems they created. Too big to be small, and too small to be big, this wilderness phase is what Doug Tatum’s bestseller refers to as “No Man’s Land,” a critical transitional stage in the metamorphosis of a growing company. And just as every teenager thinks they’re the only one struggling with fear, doubt, and the pressure to grow up faster, so every business owner needs to understand that this phase is normal and in fact manageable. A serial entrepreneur and 20 year member of the Entrepreneurs’ Organization, we are excited to welcome back Rich Manders to discuss how leaders can identify that their business is at this pivotal point, where complexity is growing at an exponential rate, and more importantly, how to overcome the transition.
As business owners grow their organizations, attracting AND retaining the right talent is crucial. Without the right team in place with everyone understanding their individual and team roles and how they fit into the organization, it is hard to reach desired company goals. So where does one begin when it comes to ensuring employee success? Does it start with employee onboarding or before? Who is responsible for onboarding? How do you measure the effectiveness of acclimating new hires? These are just a few of the questions we will answer on today’s episode of The Second Stage with our guest, human resource expert and President of Organizational Architecture, Mark Fiala. Investing in talent is a significant undertaking for any company, especially small businesses. So join us on today’s episode to learn best practices when it comes to employee retention – it starts even before an individual’s hire date.
A journey every business owner MUST take, exiting your business can either be the most rewarding or the most deflating. The part of an entrepreneur’s journey not often highlighted, the question is, what defines a great exit and how can it be planned for so that the entrepreneur leaves on his or her own terms (with satisfaction and a sense of accomplishment) and not by happenstance (with remorse). Here to join us is author Bo Burlingham, his new book “Finish Big” focused on this very subject. During our discussion we will walk through what Bo defines as the four phases of exit (Exploratory, Strategic, Execution and Transition), including what each of these phases entails. There is a process every entrepreneur can take to ensure that the factors important to them personally and professionally are dealt with in the best possible manner. And these factors can include everything from company culture to simply the involvement or lack thereof of the entrepreneur upon exit.
Growing your small business is a challenge, no matter the size or industry, with many owners identifying access to capital as one of the biggest hurdles in achieving their goals. But typically access alone is not the stumbling point. Knowing how to identify the right kind of capital, along with finding the best capital partner to fit your needs rank high in the hurdles category. To help us address these points, along with how and where to start on this journey, is Founder and CEO of Star Mountain Capital, Brett Hickey. During today’s discussion we will touch on the importance of timing, planning and knowing your long term goals -both professional and personal- before setting sail. Join us to learn more!
Kim Ferenchak, Practice Leader of Executive Risk at Oswald Companies, joins us on today’s episode of “The Second Stage” to discuss privacy and data security risks and how to ensure your business is prepared as well as protected. Business practices have evolved as we move further and further into the digital world, making it easier to not only start a business, but conduct business on a day to day basis – think better customer experience and data access - however with this comes strategic risks over cyberattacks. Ms. Ferenchak will help us understand exactly what private information is, the primary exposures that may cause harm to a business or business owner, and what elements of a cyber risk management program are imperative to ensure protection. In addition to knowing what to look for when identifying ways to get ahead of cybercrime, Ms. Ferenchak will also address what, if any, insurance solutions may be available to protect your business and its customers.
As you plan to sell your business, remember (1) you can never start too early and (2) don’t go it alone. Finding the right professional (s) to help you through the process is essential. Here to join us for today’s discussion on selling your business is the co-founder of Divestopdia, John Carvalho. Sharing his knowledge and expertise as a seasoned M&A professional, we will speak with John about some of the more difficult issues he frequently sees during the sale process and ways to possibly avoid these common pitfalls. We will also discuss not only why identifying the right advisor is so crucial , but tips and resources for finding the advisor or partner that best fits your needs as you go through this important phase in your business’s life cycle.
An important element of a great business many overlook is assembling a diverse advisory board, committed to developing your organization and exchanging knowledge. The right people bring innovative ideas, create opportunities and help a company move forward faster toward its stated objectives (or ones they didn’t even think possible). In fact, having the right people involved can be more important than having capital, because good ideas and good companies can attract low-cost capital. And it is important to note that an advisory board is different than a board of directors, focused solely on governance. The advisory members bring experience and views not found within the business, who are prepared to challenge the expectations, capabilities and vision of the organization. We are thrilled to welcome back Jeff DeGraff, the Dean of Innovation, to help us explore this topic in depth, providing suggestions for attracting those individuals that will push your organization to new heights.
Can intentional and “attention”al networking have a meaningful impact on your business and life? Global Leading Authority on Networking and Relationship Capital, Itzik Amiel, joins us on The Second Stage to share how to utilize ATTENTION to not only find the RIGHT people to connect with, but how to create both exciting and authentic connections to grow your business. The small act of giving genuine attention to others creates opportunity, through referrals and leads, having not only an impact on your bottom line, but enhancing your personal life too. Join us to learn more about Mr. Amiel’s own attention giving story, which ultimately saved his life!
On today’s episode of The Second Stage we welcome Bill Hubbard, Owner and Founder of Hubbard Business Counsel, to shed light on the newest of the crowdfunding options for both business owners and investors, Reg CF or Title III. In effect as of May sixteenth of this year, Title III allows businesses to raise equity capital online from non-accredited investors, unlike the previous forms of crowdfunding. We will discuss both the opportunities and challenges investment crowdfunding poses for business owners, as well as resources and internal steps to prepare your business, should you decide investment crowdfunding is right for you. Join us to learn more!
It’s your weekly management meeting and everyone is late, there is no agenda and mentally most in attendance are off somewhere else “working” on their laptop or smartphone just waiting for their turn to do a “data dump” of information to the team on their efforts. Sound familiar? One of the most common frustrations for business owners and their management teams are unproductive meetings. Join The Second Stage to learn how a simple and consistent agenda and a set of meeting rules can turn those dreaded weekly meetings into perhaps the most productive and energizing time spent during your week. Mr. Rene Boer, Certified Entrepreneurial Operating System (EOS) Implementer, defines a “Level 10 Meeting” and how it is a great place to begin simplifying your business, eliminating those circular conversations that occur during most leadership meetings. The benefits are well worth the time. Experience better communication, increased accountability and over all improved team health.
Whether you are a seasoned entrepreneur or new to business ownership, the law can be confusing when it comes to protecting your assets, limiting your liabilities or just creating your company’s operating agreement. On today’s episode of The Second Stage our hosts will be joined by legal expert, Michael Marhofer, Partner at Calfee, Halter & Griswold LLP, to address some of the common pitfalls for business owners from a legal perspective. The hosts will discuss many topics when it comes to forming your organization, including what your entity choices are, where you should form your entity and the necessary documents. Don’t miss this important episode covering many of the basic legal points essential to not only getting your small business started, but planning for the future.
Are you contemplating selling your business, but unsure where to start? On today’s episode of The Second Stage our guest, Founder of EdgePoint Capital Advisors, offers his expertise on how and when a business owner should begin preparing their business for sale. While there are many factors as to why a business owner may be motivated to sell their organization, under all circumstances, one must understand the value of their business to set expectations and potentially improve the value should time allow. It is also important that business owners have a well-defined wealth plan to ensure they can comfortably enjoy the next stage of their lives, whatever that may be. Tune in Monday at 5:00pmEST / 2:00pm PST to learn how to create an effective exit plan as well as how a trusted advisor, such as an investment bank, can help during this process.
Whether you are a seasoned entrepreneur or starting a business for the first time, the world of insurance, including the terminology, can be overwhelming. And in this case, what you don’t know, really can hurt you. So on today’s episode, the hosts of The Second Stage will be joined by insurance expert, Jeffrey Schwab, M&A Practice Leader with Oswald Companies, to boil down the basics when it comes to business insurance. He will address practical questions every business owner should ask themself not only as they start, but as they grow and expand their business. Mr. Schwab will discuss the various types of insurance, including property and casualty, liability and errors and omissions. Walk away with good rules of thumb as you work to protect your business (and future) against predictable and unpredictable risks.
As demonstrated by the name of our show, Second Stage Companies are our passion. In broad terms, these are established businesses with typically 10-99 employees, a local or regional reputation, and most importantly, establishments consistently adding jobs. While many think of start-ups or large corporations as being the job generators, companies demonstrating ‘sustained growth’ turn out to be the heroes. So what does ‘sustained growth’ look like? Here to discuss the characteristics of these companies and why he considers ‘sustained growth’ an important measure of company health is Dr. Gary Kunkle, the founder of Outlier LLC and Research Fellow at Business Dynamics Research Consortium. Through his extensive research, Dr. Kunkle demonstrates that growth is actually a learning curve. No matter the industry, he states, “all companies face the same set of challenges and decisions each time they expand. And the more frequently they grow, the better they get at making these decisions.”
We are thrilled to welcome Spencer Williams, President and Owner of West Paw Design, a US manufacturer of eco-friendly pet toys and beds for cats and dogs, to The Second Stage. As an honoree on the 2016 Forbes’ list of America’s Best Small Companies, Mr. Williams will share his entrepreneurial journey, why the decision to implement Open-Book Management, and the impact it has had on his organization’s success.
Introduced through the Small Giants Community, we are thrilled to welcome leadership advisor and strategist, Anese Cavanaugh, to The Second Stage. Anese sites that 93% of our impact is in how we “show up,” leaving only 7% of our impact to the words we actually say. During our conversation with Ms. Cavanaugh we will talk about what she describes as the five steps for creating intentional impact, including knowing the outcomes you want to get out of any and every interaction and/or meeting. Ms. Cavanaugh will also share with us her leadership methodology, Intentional Energetic Presence®, and how to create a “Contagious Culture,” the title of her new book. As a business owner and the leader of your organization, you hold the power to influence and create the culture around you, so why not make it positive and impactful!
We are excited to welcome investment banker and author of “Pitch Anything: An Innovative Method for Presenting, Persuading and Winning the Deal,” Mr. Oren Klaff, to The Second Stage. During our time with Mr. Klaff we will discuss his S.T.R.O.N.G. Methodology and why establishing a high status position matters. As a leader or business owner pitching a potential investor or large client, join us to learn the most common pitching flaws and how to gain frame control. Don’t be afraid to make the buyer qualify him or herself back to you. Be direct, have the confidence to ask why you should do business together, and create curiosity to make the buyer listen.
Back by popular listener demand, we are thrilled to welcome back Greg Crabtree, financial expert and author of “Simple Numbers, Straight Talk, Big Profits!,” to The Second Stage. On today’s show Mr. Crabtree will share with us the seven key numbers that every entrepreneur should monitor to create a sustainable, profitable business. Identifying these metrics through his work with entrepreneurs all over the country and across numerous industries, the first identified is profitability, which Greg will explain is the biggest driver of cash flow. Tune in to hear the remaining six key numbers in every business to not only measure, but monitor, and how it will help create success (and build wealth) in your growing business.
At a certain point in the lifecycle of every business, there comes an awkward phase of organizational development where the complexity of a business is overcoming its team’s capabilities as leaders and the systems they created. Too big to be small, and too small to be big, this wilderness phase is what Doug Tatum’s bestseller refers to as “No Man’s Land,” a critical transitional stage in the metamorphosis of a growing company. And just as every teenager thinks they’re the only one struggling with fear, doubt, and the pressure to grow up faster, so every business owner needs to understand that this phase is normal and in fact manageable. A serial entrepreneur and 20 year member of the Entrepreneurs’ Organization, we are excited to welcome back Rich Manders to discuss how leaders can identify that their business is at this pivotal point, where complexity is growing at an exponential rate, and more importantly, how to overcome the transition.
On today’s episode of The Second Stage we will be joined by business leader, engineer, Harvard Senior Fellow, and lifelong entrepreneur, Dr. Paul Hsu. Arriving in the US in 1976 with only $500 to his name, he grabbed hold of the American dream and never let it go. Today Dr. Hsu owns several very successful companies, achieving annual revenues in the millions and continues to give back as a dedicated public servant and a member of the National Minority Business Advisory Board. Reflecting on his journey, Dr. Hsu recently authored Guardians of the Dream: The Enduring Legacy of America’s Immigrants recounting his personal inspiring journey as a Taiwanese immigrant arriving in the United States with little more than his hopes of achieving the American dream. Don’t miss this episode as the co-hosts discuss with Dr. Hsu challenges entrepreneurs face today, advice he would offer to hopeful entrepreneurs, and the future of entrepreneurship in the United States.
We are excited to welcome Performance of a Lifetime CEO, Cathy Salit, to today’s episode of The Second Stage. As a singer and actor, Ms. Salit offers a unique approach to organizational change and leadership development, using what she calls “The Becoming Principle (SM),” defining as learning who you are not…yet. The Performance of a Lifetime methodology, which combines techniques from theatrical performance and performative psychology, has been embraced by and shaped leaders and organizations, such as Microsoft and Coca-Cola. Now, Ms. Salit shares her methodology in her new book, “Performance Breakthrough: A Radical Approach to Success at Work.” In it, she offers case studies and practical exercises to help you hone your listening, communication skills; recognize and act on opportunities; build healthy working relationships; and grow as a leader. Join our discussion to learn how this might help your small business thrive and evolve!
As a leader and business owner, your ability to think strategically is perhaps one of the most important skills you can share with your team and organization. To address this point, we have invited Author and CEO of Outthinker LLC, Kaihan Krippendorff, to discuss a proven set of tools outlined in his most recent book, “Outthink the Competition.” Mr. Krippendorff has worked with more than 300 clients to create innovative growth ideas, as well as increase revenue and profit. Having completed extensive research studying the patterns that allow companies to achieve breakthrough performance, he has identified these businesses seek disruptive innovation across eight dimensions. Learn more about the eight dimensions as well as the type of innovation that can allow your business to stand out from the crowd.
As an entrepreneur, looking for creative ways to expand your business, is for most, intuitive, but certainly not easy! Finding that next big customer is most likely on your radar on a daily basis, but have you ever wondered what might happen if you put as much effort into finding the right strategic partnership as you do into sales? You just might crush your competition, according to strategic business development (BD) expert and co-founder of TrueCar Inc., Mr. Bernie Brenner. Rather than a singular focus on “closing” deals, an emphasis on creating a BD strategy, in addition to sales, may just “open” the door to the perfect strategic partnership, completely changing the trajectory of your business. To find out how you can take your business to the next level, gaining dominance over your competition, join the hosts of The Second Stage as they talk BD strategy with expert Bernie Brenner, author of “The Sumo Advantage.”
In today’s customer-focused world, most businesses want happy customers to spread the viral word and increase brand reputation, but overall customer experience ratings are dropping. In fact, the founder of Frank Reactions podcast, Tema Frank, notes in her latest book, PeopleShock: The Path To Profits When Customers Rule, “sixty-one percent of consumers say they have switched service providers in the past year due to a bad service experience. Interestingly, 82 percent said that the previous provider could have done something to keep them from switching.” Why is this occurring and how do businesses evolve to meet these increased customer standards and expectations? To help us explore this topic further, we have asked Ms. Frank to join us to share her insights, having over three decades of experience in marketing strategy and customer experience improvement. We will also touch on the higher expectations of employees today, and how this factors into the customer experience.
The topic of business valuation (or fair market value assessment) is a common theme among business owners, often questioning the “value.” To address some of the common questions surrounding this subject, the hosts of The Second Stage invited Western Reserve Valuation Services’ Managing Director, Robert Stutz. During this episode Mr. Stutz will outline the importance of this practice to a private business and its owner(s) as well as circumstances under which a valuation is recommended and sometimes even required. He will also speak to the various methodologies for conducting a valuation, along with common factors that can have an effect, both positive and negative, on the outcome. Tune in to learn best practices for staying in touch with the value of what is typically a business owner’s largest investment, their company!
We are thrilled to welcome valuation expert and author Dr. Carl Sheeler, to today’s episode of The Second Stage. In his new book, ‘Equity Value Enhancement: A Tool to Leverage Human and Financial Capital While Managing Risk,’ Dr. Sheeler addresses the transformation of an entrepreneur from being overwhelmed, working in their business, to thriving, working ON their greatest investment. Leveraging 25 years of experience, including 1,200 advisory engagements, he distills best practices of trusted advisors and their entrepreneurial clients, on what successful value creation means to the business and its owner. In the end, it comes down to leveraging human (knowledge and relationships) and financial capital. We will also discuss the importance of an exit plan in the value creation process. Dr. Sheller notes that some of the most successful owners had a transition plan on day one. It’s never too early to begin planning.
Relationship building is the key for most successful entrepreneurs and business leaders as they establish and achieve both business and personal goals. The ability to instinctively engage, respond and create trust with employees, customers, vendors and investors is crucial in building a lasting brand. To discuss this in depth, we are excited to welcome Telecommunications Industry Veteran and Author of “The RiVal,” Benjamin Von Seeger, to The Second Stage. On today’s episode, Mr. Von Seeger will share with us the importance of focusing on the practical soft skills, when it comes to driving new business and creating a successful culture. In his book, Benjamin outlines some of what he believes are the essential elements of business leadership, based on his 20-year professional career, including emotional and relational intelligence, relationship-building and brand development. Join us to learn more!
After a near-death experience, today’s guest and author of “Thank God It’s Wednesday!,” Mark Langford, made it his mission to help individuals and organizations uncover and define their purpose. Purpose and passion are topics we discuss often here on The Second Stage, so we were intrigued by Mr. Langford’s approach to identifying professional passion, using one’s talents and abilities to their fullest. As entrepreneurs, we are by nature a passionate group, but should not underestimate the challenge of pinpointing our individual or organization’s purpose and the power it holds once acknowledged. Join us as we discuss Mark’s experiences, his approach for helping us find our purpose, and even broach the age old dilemma for entrepreneurs, finding work-life balance.
Many entrepreneurs feel that if they put enough hours and hustle into their business, they will be successful. And while many certainly are and should be congratulated, vision and value creation might go unfulfilled. Implementing a business operating system or methodology can offer the answer. It provides an organization (especially a small, growing business) a clear process for achieving its vision, including tools for decision making and ensuring one has the right people in the right seats. The result is a clear plan with a culture of transparency and accountability by which to transform a business. On today’s show we are lucky enough to have one of our own partner company leaders, Mike Vea, the President of Lewellyn Technology, speak with us about what implementing an operating system, in particular, Gino Wickman’s Entrepreneurial Operating System ™, has meant to his business as it has transitioned from a lifestyle business to a growing, scalable organization.
What does it mean to be a conscious leader? The first step may simply to become more self-aware, albeit not an easy task. However, if achieved, not only is becoming a conscious leader good for one’s spirit, it’s good for business too. Joining us on today’s episode of The Second Stage is entrepreneur, author and founder of Three Creative, Tim Brown. We will speak with Mr. Brown about his own experiences (both personal and professional) that ultimately prompted him to share his story in “Jumping Into The Parade.” And now, through Three Creative, Mr. Brown serves fellow entrepreneurs and professionals delivering his belief that for true success, one must reframe their life to live and lead from the inside out. Join us to learn more!
We are thrilled to welcome Joan Crain, Global Family Wealth Strategist, BNY Mellon Wealth Management, this week to The Second Stage. Joan works closely with wealthy families and their advisors to provide comprehensive and customized wealth planning solutions. We will speak with Ms. Crain about steps one can take to ensure a successful navigation of the transition from an active owner/operator to a business investor, post exit. Ms. Crain notes that it is extremely important for a business owner to carefully consider both lifestyle and psychological changes that accompany the transition from entrepreneur to investor. She will touch on the significance of having a good team of advisors in place, who the team should consist of, and the role each plays. Join us to learn more!
Last week our guest noted startling statistics on the small number of businesses built that are ever sold (20-30%) and the wealth creation that never occurs. On today’s episode, our guest, Sean Hutchinson, CEO of Strategic Value Advisors, will speak to actions owners can take today to buck this trend, create true value, and ultimately wealth, for not only themselves, but generations to come. One such action Mr. Hutchinson will discuss in a value creation strategy is employee engagement. Join us to learn why employee engagement matters, how a business owner can get started, and importantly, telltale signs that a culture of value creation is emerging.
The hosts of The Second Stage are thrilled to welcome Allie Harding, Partner at Orange Kiwi, a firm providing assessment tools, training and consulting to advisors and owners in understanding and leveraging the psychology of exits for bottom-line success. Today’s episode will focus on helping business owners understand their own entrepreneurial strengths and how those very same strengths resist the traditional exit process. According to Tom West (Business Reference Guide) 70-80% of all businesses never get sold. Instead, lifetimes of wealth and legacy are destroyed. Of those that are sold, 78% (PwC) of the owners report being dissatisfied with their exit within 12 months of the close. In addition, many of the businesses that are sold are not adequately prepared for the sale leaving vast amounts of value unrealized. Join the discussion to find out how certain identified behaviors can predict how well the business owner is likely to exit, and what to do now to improve the odds.
With 75 original episodes behind us, we would like to thank our listeners and guests for helping us create an entrepreneurial forum, which has gone well above our expectations. We will continue to shine the light on the significant impact that Second Stage Companies have on creating a vibrant economy, sharing business best practices, resources and actionable advice. As the hosts, we have had the pleasure of learning from and being inspired by the fellow entrepreneurs and experts that have joined us on The Second Stage. And to celebrate, on today’s show we will reflect on some of our past episodes and guests, including small business financial expert Greg Crabtree, Dr. Jeff DeGraff, the Dean of Innovation, and many more! We will also revisit building a foundation for sustained growth with The Five Pillars of Business Freedom, consisting of great Financials; a shared Plan; the attraction and retention of the right People; a culture of Transparency, and a culture of Accountability.
On this episode of The Second Stage, hosts Brendan Anderson and Jeffrey Kadlic will be joined by serial entrepreneur, Rich Manders. Rich will share his experiences as the founder of iAutomation and how continuously driving toward identifying the ideal customer truly transformed his organization. Rich will share actionable advice on how to identify those clients or customers that will allow you to grow your small business, not just in size and revenue, but in profitability. Join the hosts as they discuss the process iAutomation went through to become so successful at defining the ideal customer profile and reaching their target audience. While it does not happen overnight, one can begin the process with one simple question in mind. Who are the customers that you love, make you smile and wish you simply had more of?
Today’s successful small business culture thrives on learning. Consider the idea that you, the business owner, are the lead educational cultivator among your employees. Under your leadership, you possess a tremendous opportunity to assist your team in expanding their skill sets and improving their productivity. How does this help? The answer is simple: a learning culture makes for stronger employees, organization and ultimately, an enormously positive work environment. And getting it organized and implemented is a lot simpler than you may think. A great example comes from today’s guest, Arnie Malham, the founder and president of cj Advertising, who was always in the practice of learning. He was an avid business book reader, and with a proud collection amassed, Arnie brought his books to work for others to borrow and study, ultimately leading to the founding of BetterBookClub.com, an organization designed for those who share his passion for creating a learning culture.
As demonstrated by the name of our show, Second Stage Companies are our passion. In broad terms, these are established businesses with typically 10-99 employees, a local or regional reputation, and most importantly, establishments consistently adding jobs. While many think of start-ups or large corporations as being the job generators, companies demonstrating ‘sustained growth’ turn out to be the heroes. So what does ‘sustained growth’ look like? Here to discuss the characteristics of these companies and why he considers ‘sustained growth’ an important measure of company health is Dr. Gary Kunkle, the founder of Outlier LLC and Research Fellow at Business Dynamics Research Consortium. Through his extensive research, Dr. Kunkle demonstrates that growth is actually a learning curve. No matter the industry, he states, “all companies face the same set of challenges and decisions each time they expand. And the more frequently they grow, the better they get at making these decisions.”
With cyber crime on the rise and a very real threat to small business, we have invited cyber security expert, Vikas Bhatia, Founder and CEO of Kalki Consulting, to discuss what makes small businesses so vulnerable to cyber incidents. Astonishingly, 20% of cyber attacks are on small businesses with less than 250 employees. Overwhelmed? So are we. Join us as we identify with our guest a good place to start if you have no experience handling incidents and review how to begin preparing an incident response plan before you find your business in the thick of a cyber attack. And should you find yourself in the unfortunate situation of experiencing an incident prior to putting a plan in place, we will also discuss where business owners can turn for immediate help.
On today’s episode of The Second Stage we are thrilled to speak with the co-owners of Squeeze In, Misty Young and Shila Morris. Misty and Shila are a mother/daughter TEAM (in all aspects of the word) that have embraced The American Dream and embody entrepreneurial spirit. A true family affair, not only have they created a successful business and inspiring culture for family, friends and employees, they are dedicated to helping other business owners grow and prosper. In Misty’s book, “Rags to Restaurants,” she unveils her success code with the world, ‘The Five Irrefutable Laws of Restaurant Success,’ and how, if wholeheartedly embraced, it can transform any business. Here to share their story - successes, failures, lessons learned and best practices – this duo emanate why a company’s “why” is so much more important and powerful than its what or how, as Shila discusses in her recent TEDx Talk. Join us as we learn from with this inspirational and growth oriented pair of entrepreneurs.
When it comes to describing an entrepreneur, it would be hard to imagine that description not including the word “passion,” as passion and drive is typically what not only gets he or she started, but what keeps their internal flame burning. Fast forward the entrepreneurial journey to a successful, established business with people to transfer that passion to [employees and customers], all while entering the next phase of growth. It can become a bit overwhelming. Here to address not only the importance of transferring that passion to those within the organization at all levels, but the results when successful, is nationally recognized speaker and author, Mike Goldman. In his book, ‘Performance Breakthrough: The 4 Secrets of Passionate Organizations,’ Mr. Goldman describes four elements for creating a more passionate, productive, and profitable organization. Tune in to learn more!
Many entrepreneurs feel that if they put enough hours and hustle into their business, they will be successful. And while many certainly are and should be congratulated, vision and value creation might go unfulfilled. Implementing a business operating system or methodology can offer the answer. It provides an organization (especially a small, growing business) a clear process for achieving its vision, including tools for decision making and ensuring one has the right people in the right seats. The result is a clear plan with a culture of transparency and accountability by which to transform a business. On today’s show we are lucky enough to have one of our own partner company leaders, Mike Vea, the President of Lewellyn Technology, speak with us about what implementing an operating system, in particular, Gino Wickman’s Entrepreneurial Operating System ™, has meant to his business as it has transitioned from a lifestyle business to a growing, scalable organization.
Typically avid learners with a great deal of passion, entrepreneurs, especially new entrepreneurs, see the world as their oyster, full of opportunity. And while risk and hard work are synonymous with entrepreneurship, most welcome it, as the rewards can be tremendous, matching the entrepreneur’s incredible aspirations. But one area that can become overwhelming as one begins their entrepreneurial journey, as well as when success is obtained, is separating one’s life, business and financial goals. Is it necessary to separate or do entrepreneurs just need to purposely plan with the understanding that their goals will be intertwined? Is achieving work-life balance out of reach for entrepreneurs or can balance actually be created? On today’s episode of The Second Stage the hosts have invited first-generation wealth manager and founder of Gerber LLC, Randy Gerber, to discuss these questions and more.
The Second Stage is joined by guest Stephen Gurgovits, Managing Partner at F.N.B. Capital Partners, to discuss mezzanine funding as an alternative source of capital for established and growing businesses. Mr. Gurgovits will not only define exactly what mezzanine capital or debt is, but how it differs from bank debt, acting as either a supplement or alternative to. The hosts will also discuss with their guest specific situations where a business owner would benefit from mezzanine, such as in a management buyout, and the company characteristics mezzanine providers typically look for when partnering. Acting as a bridge between senior debt and equity, there are pros and cons that will be highlighted during the discussion. Mezzanine providers tend to be more aligned with a business and its goals versus a traditional bank, as their focus is on a company’s cash flow and potential versus merely its collateral and asset value. To learn more, join The Second Stage discussion at 5:00pm EST.
Introduced through the Small Giants Community, we are thrilled to welcome leadership advisor and strategist, Anese Cavanaugh, to The Second Stage. Anese sites that 93% of our impact is in how we “show up,” leaving only 7% of our impact to the words we actually say. During our conversation with Ms. Cavanaugh we will talk about what she describes as the five steps for creating intentional impact, including knowing the outcomes you want to get out of any and every interaction and/or meeting. Ms. Cavanaugh will also share with us her leadership methodology, Intentional Energetic Presence®, and how to create a “Contagious Culture,” the title of her new book. As a business owner and the leader of your organization, you hold the power to influence and create the culture around you, so why not make it positive and impactful!
We talk often about the importance of great financial metrics and reporting as you establish and grow your organization. And it doesn’t stop with just having solid financial practices in place, but must be accompanied with a culture of transparency and accountability to empower your employees for better decision making. Today’s guest however takes the concept of being financially sound one step further, as he shares the importance of teaching your employees how to manage their own personal finances and the impact to not only their own life, but that of the organization. Mr. Clint Greenleaf, founder and CEO of Greenleaf Groups and founder of Greenleaf Book Group, speaks passionately about entrepreneurship and personal finances. He shares his own experiences working with employees and how implementing a brown bag lunch series, Personal Finance 101, was just the beginning of what became an ongoing education and modified version of open book management. Join us to hear the results.
We had the pleasure of working with serial entrepreneur and co-founder of Leeza Distribution Inc., Jack McDonald, over the past several years; and are thrilled to have him as a guest on The Second Stage to share with you his insights and reflections after successfully exiting his business. We will discuss the importance a back-to-basics approach, focusing on cash flow and internal alignment, as well as the role an objective third party assessment played in Mr. McDonald’s success. We cannot over emphasize how important it is for business owners and entrepreneurs to plan for a successful exit. Self-reflection and focus on vision, strategy, culture and financial metrics can make all the difference between an exit on your terms versus that of others. Everyone will someday exit his or her business, so why not plan for it? Done right, the exit can be as exciting and satisfying as starting the business. Done wrong however, and the result can be devastating.
We are thrilled to welcome valuation expert and author Dr. Carl Sheeler, to today’s episode of The Second Stage. In his new book, ‘Equity Value Enhancement: A Tool to Leverage Human and Financial Capital While Managing Risk,’ Dr. Sheeler addresses the transformation of an entrepreneur from being overwhelmed, working in their business, to thriving, working ON their greatest investment. Leveraging 25 years of experience, including 1,200 advisory engagements, he distills best practices of trusted advisors and their entrepreneurial clients, on what successful value creation means to the business and its owner. In the end, it comes down to leveraging human (knowledge and relationships) and financial capital. We will also discuss the importance of an exit plan in the value creation process. Dr. Sheller notes that some of the most successful owners had a transition plan on day one. It’s never too early to begin planning.
While recent national reports state that there has been an overall decline in entrepreneurship in the US, there are some regions where entrepreneurship is trending up. In fact, there are areas in the US where entrepreneurship is in fact alive and thriving. How are these regions bucking the trend? Today’s guest, Mr. Ray Leach, Founding CEO of Jumpstart, Inc., a nationally recognized nonprofit accelerating the success of diverse entrepreneurs and the ecosystems supporting them, joins The Second Stage to address this very question. Mr. Leach will share with hosts Jeffrey Kadlic and Brendan Anderson five specific areas where regions can jumpstart their entrepreneurial ecosystem.
An important element of a great business many overlook is assembling a diverse advisory board, committed to developing your organization and exchanging knowledge. The right people bring innovative ideas, create opportunities and help a company move forward faster toward its stated objectives (or ones they didn’t even think possible). In fact, having the right people involved can be more important than having capital, because good ideas and good companies can attract low-cost capital. And it is important to note that an advisory board is different than a board of directors, focused solely on governance. The advisory members bring experience and views not found within the business, who are prepared to challenge the expectations, capabilities and vision of the organization. We are thrilled to welcome back Jeff DeGraff, the Dean of Innovation, to help us explore this topic in depth, providing suggestions for attracting those individuals that will push your organization to new heights.
After a near-death experience, today’s guest and author of “Thank God It’s Wednesday!,” Mark Langford, made it his mission to help individuals and organizations uncover and define their purpose. Purpose and passion are topics we discuss often here on The Second Stage, so we were intrigued by Mr. Langford’s approach to identifying professional passion, using one’s talents and abilities to their fullest. As entrepreneurs, we are by nature a passionate group, but should not underestimate the challenge of pinpointing our individual or organization’s purpose and the power it holds once acknowledged. Join us as we discuss Mark’s experiences, his approach for helping us find our purpose, and even broach the age old dilemma for entrepreneurs, finding work-life balance.
Back by popular listener demand, we are thrilled to welcome back Greg Crabtree, financial expert and author of “Simple Numbers, Straight Talk, Big Profits!,” to The Second Stage. On today’s show Mr. Crabtree will share with us the seven key numbers that every entrepreneur should monitor to create a sustainable, profitable business. Identifying these metrics through his work with entrepreneurs all over the country and across numerous industries, the first identified is profitability, which Greg will explain is the biggest driver of cash flow. Tune in to hear the remaining six key numbers in every business to not only measure, but monitor, and how it will help create success (and build wealth) in your growing business.
When it comes to describing an entrepreneur, it would be hard to imagine that description not including the word “passion,” as passion and drive is typically what not only gets he or she started, but what keeps their internal flame burning. Fast forward the entrepreneurial journey to a successful, established business with people to transfer that passion to [employees and customers], all while entering the next phase of growth. It can become a bit overwhelming. Here to address not only the importance of transferring that passion to those within the organization at all levels, but the results when successful, is nationally recognized speaker and author, Mike Goldman. In his book, ‘Performance Breakthrough: The 4 Secrets of Passionate Organizations,’ Mr. Goldman describes four elements for creating a more passionate, productive, and profitable organization. Tune in to learn more!
In a world crowded with good [and bad] content and ideas, how do you break through the clutter and stand out as a thought leader? And if successful, is there any “real” value? As an entrepreneur you have many unique attributes, but finding a way to not only create, but differentiate your personal brand may seem impossible. Today’s guest, branding expert and Author of ‘Stand Out,’ Dorie Clark, may not argue with the difficulty, but she would argue that it is possible and even valuable. Valuable in reputation and revenue. Join us on The Second Stage to hear from Ms. Clark and learn how to identify your breakthrough idea to distinguish you as, dare we say it, a thought leader, and build a valued community! As one of our favorite thought leaders, Jim Collins, states, “Fire Bullets, Then Cannonballs.” And may the BEST idea win!
On today’s episode of The Second Stage hosts Jeffrey Kadlic and Brendan Anderson discuss the importance of continuous learning, both personal and professional, with their guest, founder and CEO of BigSpeak Inc, Jonathan Wygant. And as the leader of your business, it is vital to not only invest in the development of your team, but in yourself as well. Creating a culture that promotes and supports growth and development can be the key to the success of an organization. No matter the size of your business, creative methods can be found to develop the abilities of your team, from professional training to seminars to merely reading, discussing and acting on a book embraced by the team. Tune in to this episode to learn more on how to unlock the potential of your people and ultimately business when you create and embrace a culture of continuous learning.
Whether you are a seasoned entrepreneur or new to business ownership, the law can be confusing when it comes to protecting your assets, limiting your liabilities or just creating your company’s operating agreement. On today’s episode of The Second Stage our hosts will be joined by legal expert, Michael Marhofer, Partner at Calfee, Halter & Griswold LLP, to address some of the common pitfalls for business owners from a legal perspective. The hosts will discuss many topics when it comes to forming your organization, including what your entity choices are, where you should form your entity and the necessary documents. Don’t miss this important episode covering many of the basic legal points essential to not only getting your small business started, but planning for the future.
We talk often about the importance of great financial metrics and reporting as you establish and grow your organization. And it doesn’t stop with just having solid financial practices in place, but must be accompanied with a culture of transparency and accountability to empower your employees for better decision making. Today’s guest however takes the concept of being financially sound one step further, as he shares the importance of teaching your employees how to manage their own personal finances and the impact to not only their own life, but that of the organization. Mr. Clint Greenleaf, founder and CEO of Greenleaf Groups and founder of Greenleaf Book Group, speaks passionately about entrepreneurship and personal finances. He shares his own experiences working with employees and how implementing a brown bag lunch series, Personal Finance 101, was just the beginning of what became an ongoing education and modified version of open book management. Join us to hear the results.
Today’s guest on The Second Stage, Chirag Kulkarni, serial entrepreneur and Co-Founder of Insightfully, shares his experiences in not only attracting talent, but creating a culture for retention. People, the biggest asset of any company, are key in both establishing and growing your business. As Author Patrick Lencioni states in his book, “The Five Dysfuctions of a Team,” If you could get all the people in an organization rowing in the same direction, you could dominate any industry, in any market, against any competition, at any time. On this episode we will discuss the importance of establishing company values even before hiring your first team member. In his work advising entrepreneurs, Mr. Kulkarni often discusses one of the biggest mistakes entrepreneurs make when it comes to hiring is that they don’t hire based on values, but hire based on short terms skills. Join us to learn more about creating a retention based culture, allowing your people and business to flourish.
Leadership, while a subjective topic, it is one that can have a tremendous impact when it comes to establishing and growing your business. So what does it mean to be a strong leader? There are a multitude of characteristics that many use to define a leader, but perhaps the ability to inspire and influence are most important. No one knows this better than today’s guest, Navy and Air Force decorated aviator and officer, Dave Moore. As the founder of Moore Motivated, Dave shares his incredible story of survival, determination and drive to demonstrate the importance of teamwork and leadership. Taking a disruptive approach in building teams and developing leaders, Moore describes leadership as setting boundaries and then affording your team the opportunity to find and perform at their best. To hear Mr. Moore’s inspirational journey and actions for developing effective leaders and team members, don’t miss this episode.
Purpose, a topic often visited here on The Second Stage, is something we believe has a real impact when it comes to establishing, executing and growing your business. When an organization defines its reason for being, clearly communicating from its employees to its customers, results follow. There is even a practical business value in communicating both the obstacles and successes on the road to achieving your company’s mission or purpose. When employees trust their leadership, they’re willing to work harder for them, and when customers trust a company or brand, loyalty reigns high. On today’s show, guest, Ken Burningham, Founder & Host of Business Buff Entrepreneurs, shares with us his entrepreneurial journey, and what brought him to his latest venture with the purpose of inspiring fellow entrepreneurs to get “buff” and give back. Hear how he is creating a community of entrepreneurs sharing their successes, failures and best practices to improve and inspire others.
The reason most businesses fail to achieve the desired levels of success is not because of the product, price, promotion, or even the initiative or passion of the entrepreneur, but rather a failure to produce detailed and timely financial statements, goals (or a plan), and key performance indicators that align to the plan to reach “success.” In this episode we will tackle the second of five pillars key to building a foundation for scale and experiencing business freedom, having a plan! Now that you have the data to see where you currently are (pillar 1, great financials), what is the next step to get you to where want to go? Begin with the end in mind. While the plan to getting there may change from time to time (and expect it to), having a plan and sticking to it is essential. If you don’t know where you are going, how do you get there?
You’ve worked hard to create a successful business and have made the life changing decision to sell. Don’t overlook the magnitude of not only the sale agreement, but the employment, shareholder and operating agreements as well. On today’s episode the hosts will again be joined by legal expert, Michael Marhofer, Partner at Calfee, Halter & Griswold LLP to continue the discussion around the importance of putting well-documented agreements in place. On this final episode of our three-part legal series, we will explore in detail shareholder, operating and employment agreements and their key provisions. Learn more by joining this legal series on preparing your business for sale.
You’ve worked hard to create a successful business and have made the life changing decision to sell. Don’t overlook the magnitude of not only the sale agreement, but the employment, partnership and operating agreements as well. On today’s episode the hosts will be joined by legal expert, Michael Marhofer, Partner at Calfee, Halter & Griswold LLP to discuss the importance of putting well-documented agreements in place, beginning with the sale or purchase agreement. It outlines the terms of the sale to avoid misunderstanding now and in the future. On the first of this three-part series, Mr. Marhofer will review the types of sale, asset versus ownership, and the various sections of the purchase agreement, their significance and meaning. For both sides of the transaction, it is crucial to understand the details (Definitions, Representations and Warranties, Indemnifications, etc…) to be able to negotiate. Learn more during this legal series on preparing your business for sale.
As you plan to sell your business, remember (1) you can never start too early and (2) don’t go it alone. Finding the right professional (s) to help you through the process is essential. Here to join us for today’s discussion on selling your business is the co-founder of Divestopdia, John Carvalho. Sharing his knowledge and expertise as a seasoned M&A professional, we will speak with John about some of the more difficult issues he frequently sees during the sale process and ways to possibly avoid these common pitfalls. We will also discuss not only why identifying the right advisor is so crucial , but tips and resources for finding the advisor or partner that best fits your needs as you go through this important phase in your business’s life cycle.
The reason most businesses fail to achieve the desired levels of success is not because of the product, price, promotion, or even the initiative or passion of the entrepreneur, but rather a failure to produce detailed and timely financial statements, goals (or a plan), and key performance indicators that align to the plan to reach “success.” In this episode we will tackle the first of five pillars key to building a foundation for scale, great financials. Having detailed and reliable financials is the #1 pillar all businesses owners should embrace. Great financials allow for transparency into your business. Where are you making money? What does your cash flow look like? Accurate financials provide the data and metrics on which to make sound business decisions. You will have a clear picture as to where your business currently is and what you will need to do to take it to the next level. If you don’t know where you are today, how do you ever get to where you want to be?
On today’s episode of The Second Stage we are thrilled to speak with the co-owners of Squeeze In, Misty Young and Shila Morris. Misty and Shila are a mother/daughter TEAM (in all aspects of the word) that have embraced The American Dream and embody entrepreneurial spirit. A true family affair, not only have they created a successful business and inspiring culture for family, friends and employees, they are dedicated to helping other business owners grow and prosper. In Misty’s book, “Rags to Restaurants,” she unveils her success code with the world, ‘The Five Irrefutable Laws of Restaurant Success,’ and how, if wholeheartedly embraced, it can transform any business. Here to share their story - successes, failures, lessons learned and best practices – this duo emanate why a company’s “why” is so much more important and powerful than its what or how, as Shila discusses in her recent TEDx Talk. Join us as we learn from with this inspirational and growth oriented pair of entrepreneurs.
A journey every business owner MUST take, exiting your business can either be the most rewarding or the most deflating. The part of an entrepreneur’s journey not often highlighted, the question is, what defines a great exit and how can it be planned for so that the entrepreneur leaves on his or her own terms (with satisfaction and a sense of accomplishment) and not by happenstance (with remorse). Here to join us is author Bo Burlingham, his new book “Finish Big” focused on this very subject. During our discussion we will walk through what Bo defines as the four phases of exit (Exploratory, Strategic, Execution and Transition), including what each of these phases entails. There is a process every entrepreneur can take to ensure that the factors important to them personally and professionally are dealt with in the best possible manner. And these factors can include everything from company culture to simply the involvement or lack thereof of the entrepreneur upon exit.
Join hosts Jeffrey Kadlic and Brendan Anderson as they speak with the author of Second Stage Entrepreneurship: Ten Proven Strategies for Driving Aggressive Growth, Daniel Weinfurter. Having many consistencies with Evolution’s 5 Pillars of Business Freedom discussed on previous episodes, Mr. Weinfurter shares his ten proven strategies for driving aggressive growth. Select drivers include a capital infusion, which one must support with a detailed plan and strong skill set and track record; hiring the “right” talent, strive to hire people smarter than you; and having strong sales management systems and processes in, along with true sales “leaders.” He will also discuss case studies of notable companies, each having their own unique attributes, but their strategies for growth having consistent principles that apply to all businesses. Join us as the hosts discuss with Mr. Weinfurter the steps to become a continually growing business.
Has your organization defined its core values? If you have, you know the tremendous power they play in shaping your company and its culture, both internally and externally. You have a well-defined culture that that not only guides your organization’s behavior, but allows for focused and clear decision-making. If you have not, the hosts of The Second Stage, Jeffrey Kadlic and Brendan Anderson, encourage you to jump in with both feet and enjoy the amazing benefits. Your core values are probably already there just waiting to be formally defined. As a business owner or entrepreneur, don’t underestimate the power of defining, writing, communicating and ultimately running your organization by them. To paint the picture of the tremendous impact core values can have on a business, today’s guest, Bud Brian, Founder and CEO of Budco Finanical Services, discusses how core values have helped shape, grow and differentiate his organization.
Today’s successful small business culture thrives on learning. Consider the idea that you, the business owner, are the lead educational cultivator among your employees. Under your leadership, you possess a tremendous opportunity to assist your team in expanding their skill sets and improving their productivity. How does this help? The answer is simple: a learning culture makes for stronger employees, organization and ultimately, an enormously positive work environment. And getting it organized and implemented is a lot simpler than you may think. A great example comes from today’s guest, Arnie Malham, the founder and president of cj Advertising, who was always in the practice of learning. He was an avid business book reader, and with a proud collection amassed, Arnie brought his books to work for others to borrow and study, ultimately leading to the founding of BetterBookClub.com, an organization designed for those who share his passion for creating a learning culture.
With cyber crime on the rise and a very real threat to small business, we have invited cyber security expert, Vikas Bhatia, Founder and CEO of Kalki Consulting, to discuss what makes small businesses so vulnerable to cyber incidents. Astonishingly, 20% of cyber attacks are on small businesses with less than 250 employees. Overwhelmed? So are we. Join us as we identify with our guest a good place to start if you have no experience handling incidents and review how to begin preparing an incident response plan before you find your business in the thick of a cyber attack. And should you find yourself in the unfortunate situation of experiencing an incident prior to putting a plan in place, we will also discuss where business owners can turn for immediate help.
Whatever the term used - Conscious Capitalism, Purpose-Driven Companies or Stakeholder-Based Businesses – these all describe business models centered and aligned around a higher societal purpose, focused on creating value for ALL stakeholders. And while one may typically identify this description with non-profit organizations, there are tremendous performance and impact results for-profit companies have when truly embracing this culture driven approach. Think of companies like Whole Foods and Southwest Airlines who typically outperform most companies in their category. Profits are a natural result of alignment among employees, customers and vendors as well as great strategy execution. To learn more about how small business owners can implement this culture-based approach and the tremendous rewards that can result, join the hosts of The Second Stage and their guest, William Vogelgesang, co-founder of Candlewood Partners, for today’s discussion
Are you an entrepreneur eager to take your idea or product out to the marketplace? Are you wondering where you can turn and perhaps if a startup Accelerator may be the answer? Then don’t miss today’s episode of The Second Stage to learn if partnering with an Accelerator is right for you and your ideas! On this episode, hosts Jeffrey Kadlic and Brendan Anderson will be joined by seasoned Entrepreneur and the Founder of Mighty Wise Academy, Eric Wagner, to outline not only what you can expect, but what can truly be achieved if you go in with the right expectations and your eyes wide open. If capital is ALL you are looking for, then partnering with an Accelerator may not be the answer, but if you are prepared to learn how to create a business that CAN attract capital, then it may be exactly what you are looking for.
As a founder or CEO, have you made the decision to borrow money to get your business through tough times, bridging the capital gap? Now business has bounced back and executing a plan to again become debt free seems impossible. You are not alone. Hindsight being 20 20, perhaps a simple plan to cut back expenses would have made better business sense. But it is hard to recognize this as expenses and debt accumulate and scaling back seems counter intuitive. While not easy to change one’s mindset, it is possible. Regardless of how your company’s finances got to where they are today, as the head of the organization, it is crucial that you take a step back, evaluate the situation, and note what makes the most sense for the health of the company. A restart can be achieved with dedication and commitment to a plan. To address why companies fail and how they can potentially start over, we have invited turnaround expert, Patrick Rettig, to join today’s discussion on The Second Stage.
As an entrepreneur, looking for creative ways to expand your business, is for most, intuitive, but certainly not easy! Finding that next big customer is most likely on your radar on a daily basis, but have you ever wondered what might happen if you put as much effort into finding the right strategic partnership as you do into sales? You just might crush your competition, according to strategic business development (BD) expert and co-founder of TrueCar Inc., Mr. Bernie Brenner. Rather than a singular focus on “closing” deals, an emphasis on creating a BD strategy, in addition to sales, may just “open” the door to the perfect strategic partnership, completely changing the trajectory of your business. To find out how you can take your business to the next level, gaining dominance over your competition, join the hosts of The Second Stage as they talk BD strategy with expert Bernie Brenner, author of “The Sumo Advantage.”
In his book, “Small Giants: Companies That Choose to be Great Instead of Big,” author and entrepreneurial advocate, Bo Burlingham, describes six common characteristics observed in the extraordinary companies researched for his work – which he subsequently designates as “business mojo.” On today’s episode of The Second Stage hosts Brendan Anderson and Jeffrey Kadlic are honored to speak with Mr. Burlingham about these identified characteristics - Leadership, Community, Relationships, Culture, Passion and Profit – to learn more on how entrepreneurs and their companies can benefit from understanding and truly embracing these attributes. Join the hosts and their guest at 5:00pm EST / 2:00pm PST as they discuss just what it takes to gain “business mojo” and see if becoming a “Small Giant” fits the vision you have for your business.
As a leader and business owner, your ability to think strategically is perhaps one of the most important skills you can share with your team and organization. To address this point, we have invited Author and CEO of Outthinker LLC, Kaihan Krippendorff, to discuss a proven set of tools outlined in his most recent book, “Outthink the Competition.” Mr. Krippendorff has worked with more than 300 clients to create innovative growth ideas, as well as increase revenue and profit. Having completed extensive research studying the patterns that allow companies to achieve breakthrough performance, he has identified these businesses seek disruptive innovation across eight dimensions. Learn more about the eight dimensions as well as the type of innovation that can allow your business to stand out from the crowd.
With the recent change in Congress, what can the small business community expect? To address both opportunities and challenges that may lie ahead for small business, we have invited Brett Palmer, the President of the Small Business Investor Alliance (SBIA) to The Second Stage to share his insights as to what business owners can expect in 2015 and beyond. Is change really in the air? Or should business owners be prepared for more talk and no immediate action? Will Obamacare be affected? Will there be change to taxes? In addition to these questions, Mr. Palmer will also speak to the financial marketplace, from both the bank and private equity perspective, and what small businesses can expect when it comes to accessing capital, as well as what small businesses can do to make themselves attractive for outside investors and lenders.
Bestselling author of ‘Built to Sell’ and the founder of The Sellability Score, John Warrillow, joins the hosts of The Second Stage to discuss business factors owners can address today in order to make their companies more sellable in the future. Whether the decision to sell (planned or not) is one, two or ten years away, Mr. Warrillow shares steps every business owner can take to migrate their company from a founder dependent, lifestyle business to one that is founder independent with true value in the marketplace. An important point he will address with the hosts is that potential buyers will always focus more on the future of the company. While past performance is obviously imperative to display a solid foundation has been built, most buyers will want to ensure that the business is healthy and viable for continued growth once the current owner has exited. To hear more on the factors that will make your business sellable, don’t miss this episode of The Second Stage.
On today’s episode of The Second Stage the hosts are joined by Audit Director and Partner at McGladrey, Roger Prough. Roger will offer insight into common accounting errors he and his team uncover when auditing small business financials as well as suggestions for rectifying. A few of these common and easily correctable mistakes include: improper cutoff of revenue transactions and lack of segregation of duties. During today’s discussion you will hear how simple internal controls can prevent a much bigger issue such as fraud. Don’t miss this episode to learn more on how you can recognize and benefit from identifying these common financial errors in your business.
On today’s episode of The Second Stage hosts Jeffrey Kadlic and Brendan Anderson discuss the importance of continuous learning, both personal and professional, with their guest, founder and CEO of BigSpeak Inc, Jonathan Wygant. And as the leader of your business, it is vital to not only invest in the development of your team, but in yourself as well. Creating a culture that promotes and supports growth and development can be the key to the success of an organization. No matter the size of your business, creative methods can be found to develop the abilities of your team, from professional training to seminars to merely reading, discussing and acting on a book embraced by the team. Tune in to this episode to learn more on how to unlock the potential of your people and ultimately business when you create and embrace a culture of continuous learning.
For over twenty years, co-founders of Harvest Earnings and authors of “Low-Hanging Fruit, 77 Eye-Opening Ways to Improve Productivity and Profits,” have assisted organizations of all sizes to increase profits and productivity by harvesting their low-hanging fruit. On today’s episode of The Second Stage Jeremy Eden and Terri Long will share their experiences and expertise when it comes to uncovering opportunities for improvement using those closest to the work. Often times companies overlook utilizing their biggest and best asset, their people, to not only come up with ideas, but to execute on those ideas as well. Mr. Eden and Ms. Long will share actionable advice on how business owners can identify their low-hanging fruit, including “Put a Price Tag on Everything to Stop the Waste” and “Ask Your New Hires and Your Vendors.” By implementing these best practices, not only will your company’s profits increase, but so will your employee morale and performance.
Entrepreneurship has found its way on to many higher-education campuses as they work to inspire their students and prepare them to thrive in today’s economic environment. In fact an organization dedicated to education and entrepreneurship, The Ewing Marion Kauffman Foundation, launched a program, the Kauffman Campuses Initiative (KCI), to encourage new, interdisciplinary entrepreneurship education programs throughout American colleges and universities. And while not everyone defines entrepreneurship in the exact same way, it does beg the question as to if entrepreneurship must be in one’s DNA or if it can in fact be taught. Here to share his thoughts and expertise on this question and many more when it comes to academia and entrepreneurship is the Director of the Institute for Entrepreneurship at Miami University, Brett Smith. Miami University has a long history with entrepreneurship and continues to be one of the leading undergraduate entrepreneurship programs in the U.S
Typically avid learners with a great deal of passion, entrepreneurs, especially new entrepreneurs, see the world as their oyster, full of opportunity. And while risk and hard work are synonymous with entrepreneurship, most welcome it, as the rewards can be tremendous, matching the entrepreneur’s incredible aspirations. But one area that can become overwhelming as one begins their entrepreneurial journey, as well as when success is obtained, is separating one’s life, business and financial goals. Is it necessary to separate or do entrepreneurs just need to purposely plan with the understanding that their goals will be intertwined? Is achieving work-life balance out of reach for entrepreneurs or can balance actually be created? On today’s episode of The Second Stage the hosts have invited first-generation wealth manager and founder of Gerber LLC, Randy Gerber, to discuss these questions and more.
You’ve worked hard to create a successful business and have made the life changing decision to sell. Don’t overlook the magnitude of not only the sale agreement, but the employment, shareholder and operating agreements as well. On today’s episode the hosts will again be joined by legal expert, Michael Marhofer, Partner at Calfee, Halter & Griswold LLP to continue the discussion around the importance of putting well-documented agreements in place. On this final episode of our three-part legal series, we will explore in detail shareholder, operating and employment agreements and their key provisions. Learn more by joining this legal series on preparing your business for sale.
You’ve worked hard to create a successful business and have made the life changing decision to sell. Don’t overlook the magnitude of not only the sale agreement, but the employment, shareholder and operating agreements as well. On today’s episode the hosts will again be joined by legal expert, Michael Marhofer, Partner at Calfee, Halter & Griswold LLP to continue the discussion around the importance of putting well-documented agreements in place, beginning with the purchase agreement. On the second of this three-part legal series, we will review transaction structures, asset versus stock sale, and the various sections of the purchase agreement, their significance and meaning. For both sides of the transaction it is crucial to understand the unique segments including: Definitions, Purchase Price, Representations and Warranties, Closing Conditions, Covenants and Indemnifications. Learn more by joining this legal series on preparing your business for sale.
You’ve worked hard to create a successful business and have made the life changing decision to sell. Don’t overlook the magnitude of not only the sale agreement, but the employment, partnership and operating agreements as well. On today’s episode the hosts will be joined by legal expert, Michael Marhofer, Partner at Calfee, Halter & Griswold LLP to discuss the importance of putting well-documented agreements in place, beginning with the sale or purchase agreement. It outlines the terms of the sale to avoid misunderstanding now and in the future. On the first of this three-part series, Mr. Marhofer will review the types of sale, asset versus ownership, and the various sections of the purchase agreement, their significance and meaning. For both sides of the transaction, it is crucial to understand the details (Definitions, Representations and Warranties, Indemnifications, etc…) to be able to negotiate. Learn more during this legal series on preparing your business for sale.
Did you ever wonder what makes for a successful entrepreneur? What characteristics must one have to not only jump in to entrepreneurship with both feet, but actually execute their vision? On today’s episode of The Second Stage hosts Jeffrey Kadlic and Brendan Anderson are joined by serial entrepreneur and founder of MOVABLE, Blake Squires, to dissect these very questions. Having successfully founded four companies, Mr. Squires will share his definition of the entrepreneurial mindset as well as business tactics for getting started. While coming up with a unique product or service is by no means easy, taking that giant leap to actually bringing it to life, creating a true business, can be even harder. Don’t miss this episode to learn if you have the entrepreneurial mindset and how you can begin acting on your passion to create something larger than yourself.
While recent national reports state that there has been an overall decline in entrepreneurship in the US, there are some regions where entrepreneurship is trending up. In fact, there are areas in the US where entrepreneurship is in fact alive and thriving. How are these regions bucking the trend? Today’s guest, Mr. Ray Leach, Founding CEO of Jumpstart, Inc., a nationally recognized nonprofit accelerating the success of diverse entrepreneurs and the ecosystems supporting them, joins The Second Stage to address this very question. Mr. Leach will share with hosts Jeffrey Kadlic and Brendan Anderson five specific areas where regions can jumpstart their entrepreneurial ecosystem.
Are you an entrepreneur eager to take your idea or product out to the marketplace? Are you wondering where you can turn and perhaps if a startup Accelerator may be the answer? Then don’t miss today’s episode of The Second Stage to learn if partnering with an Accelerator is right for you and your ideas! On this episode, hosts Jeffrey Kadlic and Brendan Anderson will be joined by seasoned Entrepreneur and the Founder of Mighty Wise Academy, Eric Wagner, to outline not only what you can expect, but what can truly be achieved if you go in with the right expectations and your eyes wide open. If capital is ALL you are looking for, then partnering with an Accelerator may not be the answer, but if you are prepared to learn how to create a business that CAN attract capital, then it may be exactly what you are looking for.
Does it take more than a founder’s vision to move a growing organization forward? As a business expands, more people are added, and there are commitments abound, the entrepreneurial founder or “Visionary,” as labeled by the Entrepreneurial Operating System (EOS), typically needs a complimentary leader, or “Integrator,” to implement regimen and consistency for the company to achieve its next level of success. This is not to say that an entrepreneurial founder cannot fill both of these roles, but if most are honest, the role of the integrator, one which thrives on process and procedure, is not where the founder’s passion nor strengths lie. As in most good relationships, opposites typically attract, so is true in business. Join us on this week’s episode of The Second Stage with our guest and Certified EOS Implementer, Mark Winters, to learn more on identifying the need as well as when it makes sense for a founder to add these complementary skill-sets to his leadership roster.
As entrepreneurs work hard to build their company, development of their leadership team and its skill set may not fall high on the priority list, but as the business begins to blossom and grow, investing in key people (including the business owners themselves) is imperative. If one truly wants their business to take that next leap forward, having an effective management team creates a more efficient and capable business. It is the leadership abilities of the management team, along with attracting and retaining the right mix of people to complement them, which guides the business into the future. Join this week’s episode of The Second Stage to learn more about how an investment in the development of a company’s most valuable asset, its people, can have a tremendous impact on the bottom line! Leadership skill development ranges from setting meaningful and measurable goals to improving communication throughout the organization.
The topic of business valuation (or fair market value assessment) is a common theme among business owners, often questioning the “value.” To address some of the common questions surrounding this subject, the hosts of The Second Stage invited Western Reserve Valuation Services’ Managing Director, Robert Stutz. During this episode Mr. Stutz will outline the importance of this practice to a private business and its owner(s) as well as circumstances under which a valuation is recommended and sometimes even required. He will also speak to the various methodologies for conducting a valuation, along with common factors that can have an effect, both positive and negative, on the outcome. Tune in to learn best practices for staying in touch with the value of what is typically a business owner’s largest investment, their company!
Entrepreneurship and Innovation typically go hand in hand as one creates a product or service, but can sometimes get lost as one establishes and then begins to grow their business. To uncover how a business can be re-energized through innovation, the hosts of The Second Stage are pleased to welcome today’s guest, Dr. Jeff DeGraff, dubbed the “Dean of Innovation” through his work as both a Professor of Management and Organization at the University of Michigan over the past 25 years as well as advisor to many of the world’s leading corporations. During this episode, learn what business owners can do to jumpstart innovation in their established organizations using four simple steps outlined in his most recent book, “Making Stone Soup.” The hosts will also discuss with Dr. DeGraff how momentum plays a role as well as the role innovation and creativity have when it comes to an organization’s sustained growth.
Whatever the term used - Conscious Capitalism, Purpose-Driven Companies or Stakeholder-Based Businesses – these all describe business models centered and aligned around a higher societal purpose, focused on creating value for ALL stakeholders. And while one may typically identify this description with non-profit organizations, there are tremendous performance and impact results for-profit companies have when truly embracing this culture driven approach. Think of companies like Whole Foods and Southwest Airlines who typically outperform most companies in their category. Profits are a natural result of alignment among employees, customers and vendors as well as great strategy execution. To learn more about how small business owners can implement this culture-based approach and the tremendous rewards that can result, join the hosts of The Second Stage and their guest, William Vogelgesang, co-founder of Candlewood Partners, for today’s discussion
As a follow up to our episode on the Affordable Care Act (ACA) in October 2013, The Second Stage has invited back insurance experts Robert Edmonds and Andrea Esselstein from Oswald, one of the nation’s largest independent, employee-owned insurance brokerage firms, to provide an update on changes since their last visit. The hosts will discuss with their guests changes and benefits employers have experienced in 2014 as well as what they should expect to see for the remainder of this year and beyond, including the new IRS reporting requirements. Don’t miss this episode on what business owners should know as well as expect next when it comes to the ACA in the New Year.
Owning a business is both exciting and overwhelming all at the same time. On this episode of The Second Stage the hosts will discuss the benefits of entrepreneurial peer groups with their guest Rob Dube, owner of Image One. Rob will share his experiences as a member of several peer groups and how he has benefitted both professionally and personally. Learn best practices, be held accountable to a respected group of peers and surround yourself with that entrepreneurial spirit that got you to where you are today. Why recreate the wheel if a solution has already been developed and more importantly proven. Join the hosts as they talk about what to expect when joining a peer group, identifying the right one for you and a list of respected and established groups to investigate.
Are entrepreneurship and early stage companies on the rise or decline? A topic which seems to have many nuances and is getting attention by both by the media and institutions focused on entrepreneurship will be the emphasis of the this week’s discussion on The Second Stage. Entrenched in the early stage ecosystem and working closely with growing companies, angel investors, venture capitalists and private equity firms, the hosts will be joined by Mr. John Hoesley, Managing Director with Silicon Valley Bank to share his observations. Mr. Hoesley will provide insight into what Silicon Valley Bank is seeing across the various industries it services and whether early stage funding appears to be on the rise, decline or remaining status quo. The hosts will also discuss how Silicon Valley Bank services this unique entrepreneurial sector and even highlight some of the innovative financing solutions they provide to their clients. To learn more, join The Second Stage discussion at 5:00pm EST.
Whether you are a seasoned entrepreneur or starting a business for the first time, the world of insurance, including the terminology, can be overwhelming. And in this case, what you don’t know, really can hurt you. So on today’s episode, the hosts of The Second Stage will be joined by insurance expert, Jeffrey Schwab, M&A Practice Leader with Oswald Companies, to boil down the basics when it comes to business insurance. He will address practical questions every business owner should ask themself not only as they start, but as they grow and expand their business. Mr. Schwab will discuss the various types of insurance, including property and casualty, liability and errors and omissions. Walk away with good rules of thumb as you work to protect your business (and future) against predictable and unpredictable risks.
With the ever growing popularity of crowdfunding and the Securities and Exchange Commission approval of the JOBS Act this past year, the hosts of The Second Stage, Jeffrey Kadlic and Brendan Anderson, would like to break down the facts with their guest and legal expert Bob Rapp, Partner at Calfee. They will discuss how this landmark legislation within the JOBS Act has changed the fundraising landscape possibly forever as well as what it means for business owners and entrepreneurs looking to raise equity. Pros and cons will be weighed and questions addressed such as when crowdfunding is a viable option and when is it best to investigate other alternatives?
In his book, “Small Giants: Companies That Choose to be Great Instead of Big,” author and entrepreneurial advocate, Bo Burlingham, describes six common characteristics observed in the extraordinary companies researched for his work – which he subsequently designates as “business mojo.” On today’s episode of The Second Stage hosts Brendan Anderson and Jeffrey Kadlic are honored to speak with Mr. Burlingham about these identified characteristics - Leadership, Community, Relationships, Culture, Passion and Profit – to learn more on how entrepreneurs and their companies can benefit from understanding and truly embracing these attributes. Join the hosts and their guest at 5:00pm EST / 2:00pm PST as they discuss just what it takes to gain “business mojo” and see if becoming a “Small Giant” fits the vision you have for your business.
The Second Stage is joined by guest Stephen Gurgovits, Managing Partner at F.N.B. Capital Partners, to discuss mezzanine funding as an alternative source of capital for established and growing businesses. Mr. Gurgovits will not only define exactly what mezzanine capital or debt is, but how it differs from bank debt, acting as either a supplement or alternative to. The hosts will also discuss with their guest specific situations where a business owner would benefit from mezzanine, such as in a management buyout, and the company characteristics mezzanine providers typically look for when partnering. Acting as a bridge between senior debt and equity, there are pros and cons that will be highlighted during the discussion. Mezzanine providers tend to be more aligned with a business and its goals versus a traditional bank, as their focus is on a company’s cash flow and potential versus merely its collateral and asset value. To learn more, join The Second Stage discussion at 5:00pm EST.
When it comes to growing a business, there are many common challenges, including the entrepreneur wearing multiple hats. And while this is necessary and even works in most cases as one starts and even begins to establish their business, as the company continues down the growth path, being the owner, president and head of sales and operations typically has its limitations. On today’s episode of The Second Stage the co-hosts, Jeffrey Kadlic and Brendan Anderson, will explore these common challenges faced by private companies with growth strategist Andy Birol. Helping more than 450 business owners to run, fix and grow their established organizations, Mr. Birol will share how an entrepreneur can identify his or her strengths and where their time and energies are the most valuable as well as “valued.” In addition, through this discovery process, it then becomes apparent where new hires or external partners can be of most help to the business in lending their expertise.
For over twenty years, co-founders of Harvest Earnings and authors of “Low-Hanging Fruit, 77 Eye-Opening Ways to Improve Productivity and Profits,” have assisted organizations of all sizes to increase profits and productivity by harvesting their low-hanging fruit. On today’s episode of The Second Stage Jeremy Eden and Terri Long will share their experiences and expertise when it comes to uncovering opportunities for improvement using those closest to the work. Often times companies overlook utilizing their biggest and best asset, their people, to not only come up with ideas, but to execute on those ideas as well. Mr. Eden and Ms. Long will share actionable advice on how business owners can identify their low-hanging fruit, including “Put a Price Tag on Everything to Stop the Waste” and “Ask Your New Hires and Your Vendors.” By implementing these best practices, not only will your company’s profits increase, but so will your employee morale and performance.
On today’s episode of The Second Stage we have invited architect and design expert, James Horman of Progressive AE, to discuss how architecture can truly impact a business’s overall performance. Architecture and design investments in your business are just that – INVESTMENTS – so shouldn’t you expect some type of return? Mr. Horman will share how when approached with results (performance, productivity, people and profits) in mind, creating the right space for your organization can have a tremendous effect on your business. Metrics can be identified and measurable outcomes tracked. To learn more on how your business can make the most of its environment, join our co-hosts, Jeffrey Kadlic and Brendan Anderson, along with their guest on today’s episode of The Second Stage.
On today’s episode of The Second Stage we will be joined by business leader, engineer, Harvard Senior Fellow, and lifelong entrepreneur, Dr. Paul Hsu. Arriving in the US in 1976 with only $500 to his name, he grabbed hold of the American dream and never let it go. Today Dr. Hsu owns several very successful companies, achieving annual revenues in the millions and continues to give back as a dedicated public servant and a member of the National Minority Business Advisory Board. Reflecting on his journey, Dr. Hsu recently authored Guardians of the Dream: The Enduring Legacy of America’s Immigrants recounting his personal inspiring journey as a Taiwanese immigrant arriving in the United States with little more than his hopes of achieving the American dream. Don’t miss this episode as the co-hosts discuss with Dr. Hsu challenges entrepreneurs face today, advice he would offer to hopeful entrepreneurs, and the future of entrepreneurship in the United States.
This week on The Second Stage entrepreneurs Michelle Tomallo and Micki Tubbs, Co-Founders of FIT Technologies, join us to share their story as a family and women-owned business. Ms. Tomallo and Ms. Tubbs discuss the challenges of not only getting started, but growing, in spite of the economic ups and downs since beginning in 1999. Evolving from a web based software development firm focused on the education market to a provider of customized IT Solutions across many industries, they have built an extraordinary company focused on culture, high performance and putting their customers first. Recognized as Ernst & Young Entrepreneurs of the Year, don’t miss this week’s episode to learn more on what sets their organization apart and how they have accomplished the well-deserved success for their company, employees and customers.
Big or small, it is inevitable that a crisis of some kind will happen within every business. And the days of playing ostrich are virtually gone in today’s world of 24/7 “news” (professional and amateur) and social media. So how does a company prepare for and manage a crisis? To address this topic, we have invited communication expert, Graham Hearns, Managing Director of Global Marketing & Communications at The Riverside Company. Any crisis, no matter the magnitude, is stressful, so having a pre-determined plan is crucial to responding in a timely and appropriate manner. And while making a crisis magically disappear is impossible, addressing it head on in a truthful manner can make its impact much less and get the focus of your daily business activities back on track more quickly. To learn how your business can best prepare for an unforeseen event, join us on this week’s episode of The Second Stage.
Bestselling author of ‘Built to Sell’ and the founder of The Sellability Score, John Warrillow, joins the hosts of The Second Stage to discuss business factors owners can address today in order to make their companies more sellable in the future. Whether the decision to sell (planned or not) is one, two or ten years away, Mr. Warrillow shares steps every business owner can take to migrate their company from a founder dependent, lifestyle business to one that is founder independent with true value in the marketplace. An important point he will address with the hosts is that potential buyers will always focus more on the future of the company. While past performance is obviously imperative to display a solid foundation has been built, most buyers will want to ensure that the business is healthy and viable for continued growth once the current owner has exited. To hear more on the factors that will make your business sellable, don’t miss this episode of The Second Stage.
Are you contemplating selling your business, but unsure where to start? On today’s episode of The Second Stage our guest, Founder of EdgePoint Capital Advisors, offers his expertise on how and when a business owner should begin preparing their business for sale. While there are many factors as to why a business owner may be motivated to sell their organization, under all circumstances, one must understand the value of their business to set expectations and potentially improve the value should time allow. It is also important that business owners have a well-defined wealth plan to ensure they can comfortably enjoy the next stage of their lives, whatever that may be. Tune in Monday at 5:00pmEST / 2:00pm PST to learn how to create an effective exit plan as well as how a trusted advisor, such as an investment bank, can help during this process.
It’s your weekly management meeting and everyone is late, there is no agenda and mentally most in attendance are off somewhere else “working” on their laptop or smartphone just waiting for their turn to do a “data dump” of information to the team on their efforts. Sound familiar? One of the most common frustrations for business owners and their management teams are unproductive meetings. Join The Second Stage to learn how a simple and consistent agenda and a set of meeting rules can turn those dreaded weekly meetings into perhaps the most productive and energizing time spent during your week. Mr. Rene Boer, Certified Entrepreneurial Operating System (EOS) Implementer, defines a “Level 10 Meeting” and how it is a great place to begin simplifying your business, eliminating those circular conversations that occur during most leadership meetings. The benefits are well worth the time. Experience better communication, increased accountability and over all improved team health.
Are you a business owner looking to lease professional office space for the first time? Or perhaps you have even outgrown your current office space and are looking to upgrade? In either situation you need to understand the real estate market trends in your region as well as the needs of your existing small business. Is it better to negotiate with your existing landlord or is there opportunity to survey the real estate landscape around you for a better fit? On today’s episode of The Second Stage the hosts will be joined by commercial real estate expert, Mr. Andrew Coleman, Senior Vice President at Jones Lang Lasalle, to address these questions and more. Mr. Coleman will provide insight as to when the appropriate time is to evaluate your office space needs, factors to keep in mind when assessing your office budget as well as how flexible and alternative office space solutions may be the right match for start-up business or to fill a temporary need.
The world of business telecommunications has had to virtually transform itself with the advancements in technology over the past 20 years. And with this industry shift, the business users themselves have become more sophisticated, putting increased demands for better communication services on their providers to match. So how do small businesses take advantage of these changes and advancements? Join today’s episode of The Second Stage as guest and telecommunications veteran, Tony Rehak, President of DCT Telecom Group, explains just how business owners can benefit from these many changes with the opportunity to better their business’ telecom service and end-user experience.
The topic of business valuation (or fair market value assessment) is a common theme among business owners, often questioning the “value.” To address some of the common questions surrounding this subject, the hosts of The Second Stage invited Western Reserve Valuation Services’ Managing Director, Robert Stutz. During this episode Mr. Stutz will outline the importance of this practice to a private business and its owner(s) as well as circumstances under which a valuation is recommended and sometimes even required. He will also speak to the various methodologies for conducting a valuation, along with common factors that can have an effect, both positive and negative, on the outcome. Tune in to learn best practices for staying in touch with the value of what is typically a business owner’s largest investment, their company!
Small business owners often do not realize just how vulnerable their companies are to cyber threats. But the reality is that any business (no matter the size) using or supporting any kind of technology is a real target. Those making cyber attacks today are very sophisticated and prey on “easy targets,” such as small businesses. On this episode of The Second Stage, hosts Jeffrey Kadlic and Brendan Anderson are joined by Founder and CEO of Kalki Consulting, a cyber security firm focusing on small and medium size businesses, to discuss how business owners can begin protecting their organizations, employees and clients. When it comes to malicious cyber criminals, any data housed anywhere is fair game. Don’t let a malicious attack cost you what you have worked so hard to build.
Did you ever wonder what makes for a successful entrepreneur? What characteristics must one have to not only jump in to entrepreneurship with both feet, but actually execute their vision? On today’s episode of The Second Stage hosts Jeffrey Kadlic and Brendan Anderson are joined by serial entrepreneur and founder of MOVABLE, Blake Squires, to dissect these very questions. Having successfully founded four companies, Mr. Squires will share his definition of the entrepreneurial mindset as well as business tactics for getting started. While coming up with a unique product or service is by no means easy, taking that giant leap to actually bringing it to life, creating a true business, can be even harder. Don’t miss this episode to learn if you have the entrepreneurial mindset and how you can begin acting on your passion to create something larger than yourself.
As business owners grow their organizations, attracting AND retaining the right talent is crucial. Without the right team in place with everyone understanding their individual and team roles and how they fit into the organization, it is hard to reach desired company goals. So where does one begin when it comes to ensuring employee success? Does it start with employee onboarding or before? Who is responsible for onboarding? How do you measure the effectiveness of acclimating new hires? These are just a few of the questions we will answer on today’s episode of The Second Stage with our guest, human resource expert and President of Organizational Architecture, Mark Fiala. Investing in talent is a significant undertaking for any company, especially small businesses. So join us on today’s episode to learn best practices when it comes to employee retention – it starts even before an individual’s hire date.
On today’s episode of The Second Stage the hosts are joined by Audit Director and Partner at McGladrey, Roger Prough. Roger will offer insight into common accounting errors he and his team uncover when auditing small business financials as well as suggestions for rectifying. A few of these common and easily correctable mistakes include: improper cutoff of revenue transactions and lack of segregation of duties. During today’s discussion you will hear how simple internal controls can prevent a much bigger issue such as fraud. Don’t miss this episode to learn more on how you can recognize and benefit from identifying these common financial errors in your business.
Healthcare benefits have always been a topic of discussion for small business owners and in light of all the recent changes with the Affordable Care Act, there seems to be more questions than ever before. As an employer, how do you get started to ensure you are offering your employees a good policy, balancing costs for both you and the employee? On today’s episode of The Second Stage the hosts will be joined by employee benefits expert Mark Samar, Founder and President of The Indemnity Group. Mark will address the advantages to employers offering employee benefits and what they should look for in a plan? Offering a good medical plan to your employees can actually save you money in the long run when it comes to employee satisfaction and retention. He will also provide insight into the next big thing to hit the insurance marketplace. Tune in Monday at 5pm to join the discussion.
When it comes to employee discipline and discharge, entrepreneurs probably have more questions than they care to admit. As you work hard to establish and grow your business, human nature is to believe in your employees and trust they are there to support the organization. Unfortunately this is not always the reality and can lead to stressful situations for both the business owner and employee. And if termination is necessary, legal ramifications are real. To help shed some light on this important topic, the hosts of The Second Stage have invited labor and employment law expert, Todd Palmer, Partner at Calfee, to join today’s discussion. Todd will provide practical advice to questions such as: What laws do I need to be mindful of?; Should I have a policy outlining my disciplinary process?; How should I document warnings?; and When should a legal advisor be consulted? Walk away with rules of thumb when it comes to documenting disciplinary actions and terminating employees.
Whether you are a seasoned entrepreneur or starting a business for the first time, the world of insurance, including the terminology, can be overwhelming. And in this case, what you don’t know, really can hurt you. So on today’s episode, the hosts of The Second Stage will be joined by insurance expert, Jeffrey Schwab, M&A Practice Leader with Oswald Companies, to boil down the basics when it comes to business insurance. He will address practical questions every business owner should ask themself not only as they start, but as they grow and expand their business. Mr. Schwab will discuss the various types of insurance, including property and casualty, liability and errors and omissions. Walk away with good rules of thumb as you work to protect your business (and future) against predictable and unpredictable risks.
A company’s core purpose can be defined as the reason your company exists or its “why.” It’s bigger than profits, as profits are simply the results of your purpose! And while a company’s product or service may change over the years, its purpose should remain constant. On today’s episode of The Second Stage hosts Brendan Anderson and Jeffrey Kadlic will be joined by Fathom CEO, Scot Lowry, to discuss his experience in defining his company’s purpose and how it has transformed his organization. Scot will discuss how purpose allows an organization to attract the right leadership and employees enabling the business to grow to its true potential. And perhaps even more important, a company’s purpose can truly motivate its entire organization, making everyone feel a part of something bigger than themselves. So how do you get started in defining your organization’s purpose? Join The Second Stage to learn more.
With the ever growing popularity of crowdfunding and the Securities and Exchange Commission approval of the JOBS Act this past year, the hosts of The Second Stage, Jeffrey Kadlic and Brendan Anderson, would like to break down the facts with their guest and legal expert Bob Rapp, Partner at Calfee. They will discuss how this landmark legislation within the JOBS Act has changed the fundraising landscape possibly forever as well as what it means for business owners and entrepreneurs looking to raise equity. Pros and cons will be weighed and questions addressed such as when crowdfunding is a viable option and when is it best to investigate other alternatives?
Whether you are a seasoned entrepreneur or new to business ownership, the law can be confusing when it comes to protecting your assets, limiting your liabilities or just creating your company’s operating agreement. On today’s episode of The Second Stage our hosts will be joined by legal expert, Michael Marhofer, Partner at Calfee, Halter & Griswold LLP, to address some of the common pitfalls for business owners from a legal perspective. The hosts will discuss many topics when it comes to forming your organization, including what your entity choices are, where you should form your entity and the necessary documents. Don’t miss this important episode covering many of the basic legal points essential to not only getting your small business started, but planning for the future.
On this episode of The Second Stage, hosts Brendan Anderson and Jeffrey Kadlic will be joined by serial entrepreneur, Rich Manders. Rich will share his experiences as the founder of iAutomation and how continuously driving toward identifying the ideal customer truly transformed his organization. Rich will share actionable advice on how to identify those clients or customers that will allow you to grow your small business, not just in size and revenue, but in profitability. Join the hosts as they discuss the process iAutomation went through to become so successful at defining the ideal customer profile and reaching their target audience. While it does not happen overnight, one can begin the process with one simple question in mind. Who are the customers that you love, make you smile and wish you simply had more of?
Online marketing (in all its forms) encompasses many things and can be overwhelming to an experienced or novice business owner alike. But in today’s world, how can one afford NOT to be online? The Second Stage hosts will be joined by online marketing expert and founder of Blue Fountain Media, Gabriel Shaoolian. On this episode Gabriel will share his experience as both an expert and the founder of a growing business. He will address how business owners should evaluate their online marketing strategies, including identifying metrics and quantifying their ROI, as well as how to get started. With online marketing an affordable and targeted approach, the opportunity to reach the right customers is real.
Has your organization defined its core values? If you have, you know the tremendous power they play in shaping your company and its culture, both internally and externally. You have a well-defined culture that that not only guides your organization’s behavior, but allows for focused and clear decision-making. If you have not, the hosts of The Second Stage, Jeffrey Kadlic and Brendan Anderson, encourage you to jump in with both feet and enjoy the amazing benefits. Your core values are probably already there just waiting to be formally defined. As a business owner or entrepreneur, don’t underestimate the power of defining, writing, communicating and ultimately running your organization by them. To paint the picture of the tremendous impact core values can have on a business, today’s guest, Bud Brian, Founder and CEO of Budco Finanical Services, discusses how core values have helped shape, grow and differentiate his organization.
We have invited experts from Oswald, one of the nation’s largest independent, employee-owned insurance brokerage firms, to give us the skinny on the Affordable Care Act. In 2014, new exchanges and the individual health insurance mandate widened the spectrum of opportunities and risk exposures for employers striving to provide coverage to employees and families. As a result, business owners must proactively plan, rather than respond, to evolving financial and administrative implications of the Affordable Care Act. In simple terms, we will discuss what small business owners need to know today to navigate the waters.
Join hosts Jeffrey Kadlic and Brendan Anderson as they speak with the author of Second Stage Entrepreneurship: Ten Proven Strategies for Driving Aggressive Growth, Daniel Weinfurter. Having many consistencies with Evolution’s 5 Pillars of Business Freedom discussed on previous episodes, Mr. Weinfurter shares his ten proven strategies for driving aggressive growth. Select drivers include a capital infusion, which one must support with a detailed plan and strong skill set and track record; hiring the “right” talent, strive to hire people smarter than you; and having strong sales management systems and processes in, along with true sales “leaders.” He will also discuss case studies of notable companies, each having their own unique attributes, but their strategies for growth having consistent principles that apply to all businesses. Join us as the hosts discuss with Mr. Weinfurter the steps to become a continually growing business.
Owning a business is both exciting and overwhelming all at the same time. On this episode of The Second Stage the hosts will discuss the benefits of entrepreneurial peer groups with their guest Rob Dube, owner of Image One. Rob will share his experiences as a member of several peer groups and how he has benefitted both professionally and personally. Learn best practices, be held accountable to a respected group of peers and surround yourself with that entrepreneurial spirit that got you to where you are today. Why recreate the wheel if a solution has already been developed and more importantly proven. Join the hosts as they talk about what to expect when joining a peer group, identifying the right one for you and a list of respected and established groups to investigate.
As we close out 2013 and business owners prepare for another tax season, hosts of The Second Stage, Jeffrey Kadlic and Brendan Anderson, are joined by McGladrey Tax expert, Bruce McAuliffe. During this episode Mr. McAuliffe will share strategies for tax planning and important items entrepreneurs should keep top of mind. We will address questions around tax law changes for 2013, commonly overlooked tax savings as well as ideal timing for year-end tax preparation and planning.
As a business owner, it can be confusing where to start when it comes to Intellectual Property or IP as it is more commonly known. Even the technical definition does not provide a whole lot of clarity: a work or invention that is the result of creativity to which one has rights and for which one may apply for a patent, copyright, trademark, etc. On this episode of The Second Stage we will discuss what IP is and how you determine if you need to protect it. Is your logo your IP? How about that phrase or tagline you commonly associate with your business? And once you determine “what” your IP is, the type of protection you need is the next question. Do you need a copyright, patent or trademark? IP can be a crucial part of your business; join us as we discuss what, how and when you should begin thinking about it.
We have invited experts from Oswald, one of the nation’s largest independent, employee-owned insurance brokerage firms, to give us the skinny on the Affordable Care Act. In 2014, new exchanges and the individual health insurance mandate widened the spectrum of opportunities and risk exposures for employers striving to provide coverage to employees and families. As a result, business owners must proactively plan, rather than respond, to evolving financial and administrative implications of the Affordable Care Act. In simple terms, we will discuss what small business owners need to know today to navigate the waters.
The reason most businesses fail to achieve the desired levels of success is not because of the product, price, promotion, or even the initiative or passion of the entrepreneur, but rather a failure to produce detailed and timely financial statements, goals (or a plan), and key performance indicators that align to the plan to reach “success.” In this episode we will tackle the first of five pillars key to building a foundation for scale, great financials. Having detailed and reliable financials is the #1 pillar all businesses owners should embrace. Great financials allow for transparency into your business. Where are you making money? What does your cash flow look like? Accurate financials provide the data and metrics on which to make sound business decisions. You will have a clear picture as to where your business currently is and what you will need to do to take it to the next level. If you don’t know where you are today, how do you ever get to where you want to be?
If a business owner focuses on five fundamental pillars, unlimited potential is unleashed. The business will have a foundation for scale, and the business owner will begin to free up his or her time to finally start working ON their business, instead of IN it. The entrepreneur will have the freedom to focus on the big picture and dream about what their business could be if they had unlimited time and unlimited capital. In this episode we will discuss the fifth and final pillar, accountability. As with transparency, holding everyone accountable helps to create alignment and an understanding of how what each individual is doing supports the overall vision and mission of the company. Holding people accountable, including yourself, as the leader of the organization, is key to reaching your organizational goals.
If a business owner focuses on five fundamental pillars, unlimited potential is unleashed. The business will have a foundation for scale, and the business owner will begin to free up his or her time to finally start working ON their business, instead of IN it. The entrepreneur will have the freedom to focus on the big picture and dream about what their business could be if they had unlimited time and unlimited capital. In this episode we will discuss the fourth of these five pillars, transparency. With total transparency, your entire team knows where you are and where you want to go. Seeing the big picture and status to getting there creates alignment. It helps paint the picture of how every employee is supporting the end goal. With detailed and accurate financials in place, key metrics can be tracked and communicated through daily dashboards, weekly and monthly calls and quarterly strategic meetings. A company cannot thrive if everyone is on a different page.
If a business owner focuses on five fundamental pillars, unlimited potential is unleashed. The business will have a foundation for scale, and the business owner will begin to free up his or her time to finally start working ON their business, instead of IN it. The entrepreneur will have the freedom to focus on the big picture and dream about what their business could be if they had unlimited time and unlimited capital. In this episode we will discuss the third of these five pillars, your people or team. While cliché, people really are your biggest and best asset. Think Big. People you might not be able to attract today are much more interested and intrigued when a compelling environment and vision are apparent. With great financials and a detailed plan in place the ideal team is possible.
The reason most businesses fail to achieve the desired levels of success is not because of the product, price, promotion, or even the initiative or passion of the entrepreneur, but rather a failure to produce detailed and timely financial statements, goals (or a plan), and key performance indicators that align to the plan to reach “success.” In this episode we will tackle the second of five pillars key to building a foundation for scale and experiencing business freedom, having a plan! Now that you have the data to see where you currently are (pillar 1, great financials), what is the next step to get you to where want to go? Begin with the end in mind. While the plan to getting there may change from time to time (and expect it to), having a plan and sticking to it is essential. If you don’t know where you are going, how do you get there?
The reason most businesses fail to achieve the desired levels of success is not because of the product, price, promotion, or even the initiative or passion of the entrepreneur, but rather a failure to produce detailed and timely financial statements, goals (or a plan), and key performance indicators that align to the plan to reach “success.” In this episode we will tackle the first of five pillars key to building a foundation for scale, great financials. Having detailed and reliable financials is the #1 pillar all businesses owners should embrace. Great financials allow for transparency into your business. Where are you making money? What does your cash flow look like? Accurate financials provide the data and metrics on which to make sound business decisions. You will have a clear picture as to where your business currently is and what you will need to do to take it to the next level. If you don’t know where you are today, how do you ever get to where you want to be?
An introduction to The Second Stage, an entrepreneurial forum to exchange ideas and best practices among peers. During this inaugural episode, we will discuss the importance of entrepreneurship in America, define Second Stage and highlight topics to be discussed on future shows such as financials and reporting, the importance of strategic planning, valuation and value creation, human resources and many others. We will also discuss your hosts backgrounds and passion for this space. Over the past 20 years if there is one thing we have learned, it is that there is no better resource for entrepreneurs than other entrepreneurs. Each week we will strive to leave you with actionable advice and want to hear from you about what works, what does not and dialogue about what could be done differently to implement change and achieve growth within your organization.