Tag: ITB Partners

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Selecting the Right D & I Lead – A Guide for the Small to Mid-sized CEO

David Daniels, Daniels Consulting

As the CEO of a small or mid-sized organization, you understand the urgent need to take a significant step forward in your DEI (Diversity, Equity, and Inclusion) efforts.  You want to take the right approach, but resources are tight.  Your instinct is to proceed slowly and thoughtfully.  This critical decision revolves around selecting the right person to lead your efforts.  In my first blog, I offered several tips on how to go about this critical decision.

So, let us dig into this selection process even further.  The person that you select and their title, yes, their title, will send a message within the company on how sincere you are along with your personal commitment level. For example, I recently worked with a new President of a large gaming company who was sincerely committed to taking the right steps forward.  He truly wanted his business unit to lead this multi-business organization in the Diversity and Inclusion (D & I) arena.

Unfortunately, many in his employee base came to a quick determination that his actions were a token not to be taken seriously.  Why??  He hired a wonderfully dedicated woman but brought her in at a “Manager’s” level.  While she had a strong passion and desire to succeed, her background, skillset, and experience reflected this entry-level title.  To make matters worse, she was faced with a matrix reporting relationship which created total confusion.  Predictably, the results have been minimal and frustration levels are high.

Here is the moral of this story.  This very large and financially successful conglomerate could only muster a “Director” level as the company’s D & I lead.  Now, here you sit as a small to mid-sized CEO trying to chart a course back to financial viability.  Your organization’s resources are stretched, especially in these turbulent times.  So, what is the answer??

My strong advice is to find a highly qualified person, inside or outside of the organization, while being cost-conscious.   Seems like an oxymoron, doesn’t it?  This strategic move is no different than any other that you have or will make in the future. Throwing money, money you do not have, at this strategic imperative is not the answer.  As I have mentioned before, a well thought out strategic plan that integrates with your current strategic plan is the way to go.  So many organizations of all sizes often take a very tactical approach that focuses on entry-level employee training versus a more strategic top-down plan.

My next blog will provide recommendations on how to focus on the right steps for your organization, once you have selected the correct person who can provide real and sustainable results for the organization, now and in the future.  If you have this person who can absorb this role internally, you are very fortunate.  Most likely, you will have to look outside.  Consultants are a dime a dozen; a sunset “Fractional” CDO (Chief Diversity Officer) may meet the qualifications and cost criteria.  Feel free to reach out to find out how this can work for you.

Thank you for visiting our Blog!

 

Jim Weber – Managing Partner, ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

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How to Provide Financial Support Without “Writing a Check”

Are you affiliated with educational and professional associations?  This includes colleges and their related fraternities and sororities, as well as our state and national professional organizations. These organizations promote our success, past, and future.  We continue our affiliated out of gratitude and, in some cases, for the continuing professional and personal opportunities they provide.

Our better natures compel us to “give back” to those who help us achieve the success we enjoy today. Typically, we can give our own time and money.  However, occasionally we are called on to “solicit” support from other people.  Many of us heed the call, but few of us actually like asking for donations.

What if there were a solution that could raise SIGNIFICANT DONATIONS, not just on a single fund-raising drive, but year-round?  And, what if that solution was “free” to the association and the donor?  This solution exists and can be realized through engaging Retail Benefits, Inc. as part of your fundraising strategy.

Associations that regularly communicate to 10,000 or more people are great candidates for Retail Benefits.  This includes most colleges, universities, and their affiliated fraternities and sororities.  When Retail Benefits cashback shopping is engaged as an element of fundraising, the following advantages will be realized:

    • Year-Round Fund Raising – Cashback giving is automatic and on-going. Once the donor signs up and downloads the shopping app, everything happens automatically.
    • No out-of-pocket expense for donors – Cashback donations are from the money that has always been spent shopping. Therefore, no new donor expenditures are required
    • Reduce/Eliminate the cost of membership – Association can apply cashback to reduce or eliminate dues making it easier for members to join and/or stay affiliated
    • Drive engagement – A portion of cashback can be directed to the donor as “donor bucks” to purchase special offers and merchandise (such as hats, shirts, pins, etc.)
    • Designated donations to multiple purposes – Donations can be subdivided to support annual dues, the building fund, and/or special causes
    • Messaging – Communicate directly to participants via the app on association business
Phillip Davis

To learn more about cashback shopping and its potential for your association, contact Philip A. Davis at pdavishr@comcast.net or

678-977-5578.

 

The October 16, 2020 ITB Partners Meeting via ZOOM.

Photo Doug Reifschneider

Doug Reifschneider is our Keynote speaker for our October 16, Meeting.  The title of his presentation is “Growth Gears”

Dave Daniels is our Spotlight Speaker.

Photo Doug Reifschneider
Doug Reifschneider

Doug Reifschneider is a dynamic marketing leader with 30+ years of experience in the restaurant industry. He has a  history of driving growth through the creation and delivery of unique, creative brand strategies enhancing customer affinity and market position. While at Firehouse Subs, Mr. Reifschneider helped achieve a 4X increase in locations, to 1,030 restaurants generating $684M in revenues and 19.4% average annual sales.

During his foodservice career, he navigated the ever-changing marketing/advertising environment. The advertising menu proliferated from a relatively short list of tactics (TV, radio, print [direct mail, magazines, newspaper, etc. ], OOH, POP, and direct selling) 20 years ago to thousands of online options which included but was not limited to display, native, SEO, SEM/PPC, web sites, landing pages, mobile and others. Doug has experience with all of it and is always looking for new technologies to exploit such as Blockchain.

Join Zoom Meeting

https://us02web.zoom.us/j/988485706?pwd=M1RKQ1QxM1RpZXkrUWpGS2wvL2VpQT09

Meeting ID: 988 485 706

Passcode: 002770

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Diversity and Inclusion Strategy – Key Questions to Resolve

David Daniels, Daniels Consulting

Diversity and Inclusion (D & I) is on just about every business leader’s radar these days.  But even more important is business continuity due to COVID 19.  No industry has been sparred, while some businesses have fared better than others.  As a CEO, how do you assess what needs to be done in the D & I space and how do you find the time and money when business resources are being stretched to the max?  What is the right answer for my business?

The truth is that every business is different.  The culture is different.  Values are different.  The size of the organization makes a significant difference.  The industry is a key factor.  And, how do I afford this investment, especially now? There is no “one size fits all” solution.  Many CEOs delegate this key business factor to the HR lead in the organization expecting this person to “get it done.”

The problem with this approach is that many HR leads are overloaded with current responsibilities, and often, they have limited experience in this area.  ‘D & I’ has recently added an “E,” DEI into the descriptors of this area.  The “E” is equity, and the HR lead is generally in a good place to handle this part of the equation through annual salary structure reviews along with advocating for Equity in promotions.

However, most internal attempts hit the wrong mark and are driven by tactics vs a strategy.  Any attempts at D & I should start with an assessment and gap analysis with the leadership of the company.  Once effectively diagnosed, your company needs to create executive alignment on priorities and pace of the process.  And, the D & I strategy needs to be embedded into your current culture and strategic plans vs a stand-alone strategy.

A vast majority of the time, the answer is seeking an outside perspective.  Easy to say, but finding the right person is critical.  It will require the CEO’s direct involvement with this selection process.  Hopefully, I have provided you with some key questions to ask.  The most important part of the selection decision is to find a solution that provides a bridge tailored to your culture and is cost-effective.  A “sunset” Fractional CDO (Chief Diversity Officer) approach could be your answer to optimizing this decision.

About the Author

Dave Daniels is an accomplished Senior Business and Human Resource executive with a proven track record of developing, implementing, and delivering upon both short and long-term results.  He has held management and executive-level positions with companies large and small throughout the United States. Dave has managed his career in a way that provides him with an exceptional breadth of experience and capacity to contribute to improving brand and financial results for his employer in every capacity he has served.

Thank you for visiting our Blog!

 

Jim Weber – Managing Partner, ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

 

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6 Months From The Low – Market Commentary – 9/25/20

On March 23, 2020, the S&P 500 Index closed down 2.9% for the day, bringing its total loss from its all-time high to 33.9%. The index was in the midst of its fastest bear market ever. A day earlier, New York Governor Andrew Cuomo had ordered the statewide closure of all non-essential businesses in an effort to slow the spread of the COVID-19 virus, following California’s example and kickstarting a wave of similar lockdowns across states that would ultimately bring the unemployment rate to more than 14%. Although nobody knew it at the time, that day marked the low for the closely watched stock market barometer, and it began a V-shaped recovery. The S&P 500 eclipsed its previous high by mid-August and rose 60% from the March 23 bottom through its most recent high point on September 2.

Having a large allocation to technology and growth companies whose businesses have been more insulated from the negative impacts of the virus certainly has helped the S&P 500, however, all 11 sectors have gained at least 30% from the low. In addition, the Russell 2000 Index, which measures the performance of small-cap companies in the United States, was among the worst-hit during the February-March bear market, but it has actually outperformed the S&P 500 since the market bottom.

History tells us that the gains may not necessarily be over either. While the S&P 500 has already made new all-time highs this month, other key indexes remain well below all-time highs, potentially leaving plenty of room for upside if the economy continues to recover.

Perhaps most importantly, I do not view the recent pullback in stock prices as investors reassessing the durability of the recovery. Since September 2, credit spreads have remained contained, Treasury yields have held steady, and more economically sensitive areas of the market such as industrials, financials, and even real estate have outperformed large-cap growth and the information technology sector. This is the exact opposite of what we saw in February and March. Back in early April when we were just starting to rebound, I told you that based on some reasonable assumptions that I could see the market rebounding to around 3150. While we have seen a significant market decline in September, I am raising my year-end fair value target for the S&P 500 to 3,350-3,400, implying a little upside still to come through the remainder of 2020.

Integrated Financial Group

Kevin Garrett – Integrated Financial Group

My firm specializes in working with people that experience what we call “Sudden Income.” Typically the income came from one of these events:

1) Accessing and Managing Retirement Assets

2) A Performance Contract (Typically a Sports or Entertainment Contract)

3) Divorce Settlement

4) Inheritance or Insurance Payout

5) Sale of a Business or Stock Options

6) A Personal Injury Settlement

I believe the unique nature of these events requires specialized professional experience, empathy, and communication to deal with both the financial changes and the life changes that inevitably come with them.

My clients value my ability to simplify complex strategies into an actionable plan. They also appreciate that I am open, non-judging, and easy to talk to about their dreams and fears. Each client defines financial success differently and my goal is to guide them from where they are now to where they want to be. As my client’s advisor, my goal is to provide them with a lifetime income stream, improving returns, protecting their funds, and managing taxes.

Firm Specialties:

    • Retirement Planning For Business Owners & Executives
    • Woman’s Unique Financial Planning Needs
    • Professional Athletes
    • Investment/Asset Allocation Advice
    • Estate Planning
    • Risk Management
    • Strategic Planning

Kevin was listed in The Wall Street Journal as “One of the Financial Advisors In The Southeast That You Need To Know”

Kevin was listed in Forbes Magazine’s Annual Financial Edition as a Five Star Financial Advisor

Kevin has been awarded the Five Star Professional Wealth Manager in Atlanta Magazine in 2012, 2014, 2015, 2016, 2017,2018, and 2019.

Award based on 10 objective criteria associated with providing quality services to clients such as credentials, experience, and assets under management among other factors. Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers.

KEVIN GARRETT, AWMA, CFS

Integrated Financial Group

200 Ashford Center North, Ste. 400 | Atlanta, GA 30338

Phone | 770.353.6311

Email | kgarrett@intfingroup.com

Website | kevingarrettifg.com

 

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When You Hear: “Hey, I Want to Buy Your Business”

Have you gotten this phone call, regardless of where you are in your exit planning? During challenging, tumultuous times, this call comes from many corners. Some are legitimately interested, some are fishing, some are trying to take advantage. It may or may not be the right timing for your exit planning.

Over the last few months, we have heard from several business owners asking for help because they received “the call“.

When this question comes at you, it can be interesting, even exciting. How do you respond?

The best response is to ask for some basic information and let them know you will get back to them. Whether they say they are the potential buyer or representing the potential buyer, ask for their name, phone number, email address, and website. If you can’t get that, politely end the conversation. If they say they are representing another party, ask for the name of that person or company. They may not share this initially but ask. Getting some basic information will help you do some digging.  It may be something like “I have buyers that are interested in your business.” If you hear that, consider ending the conversation!  In any case, do NOT share any information, financial or otherwise, on this first call. Step back and consider your exit plan.

Even if they are legitimate, remember that they are representing the seller. This is a complex transaction, probably the most complicated one you will ever consider. It will impact your life, retirement, family, and employees for the long-term. Succession planning takes some time.

As I discussed in my last blog (Sell My Business Now? Wait for the Economy?), you need to consider so many factors when deciding if this is the right time for you to sell. It may very well be. Even then, you need experienced professionals who provide transaction services to help guide you through this most important decision and avoid the expensive pitfalls of trying to go it alone.

If you are ready to sell, get professional representation to help manage the process. A business sale is always complicated, even more so under current conditions. If you are not ready yet, start with an estimate of value and some advice on preparing your exit plan – whether your target is one year or 10 years. If you do have time, focus on getting through COVID-19 and building business value: Rebuilding Post-Crisis.

Call if we can help you think through your specific situation. Always happy to have a conversation to provide some guidance!

Stay Healthy & Safe!

David Shavzin

David Shavzin, CMC
Exit Strategist – Value Growth, Exit Planning, Succession Planning, Transactions

Founder and President,
 The Value Track, Atlanta, Georgia
Co-Founder and President, 
Recent Blogs:

During & Post-Crisis: Preserving, Rebuilding & Growing Business Value

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Sell My Business Now? Wait for the Economy?

Get on the Value Track

Yes, for most businesses, this is probably the toughest year over the last few decades. The recession 12 years ago was devastating but 2020 has been a catastrophe in many more ways.

 Coming up with an exit plan is more important than ever.

“Should I sell my business now?” We have been fielding this question almost daily since COVID-19 started. In good times it seems that we field that question a bit less. Generally, that should be the reverse. Like with the stock market, business owners too often ride the wave up and assume it will keep rising until they reach the exact moment – and value – that they want. That isn’t going to happen for the vast majority.

Of course, the answer at any given moment depends on so many factors:

    • YOUR personal situation
    • Family considerations (See: Family Business Succession)
    • The overall economy
    • The health of your industry
    • Perhaps most importantly the state – and transferrable VALUE – of your Business

 Should I sell? Should I wait? When? Price? The answers are different for every one of you reading this article. Our current clients (mid-COVID) range from $0 in revenue to having their best year ever. What is the same for every business, however, is the series of questions and considerations for designing an exit plan.

If the value of your business is down during COVID-19, but still reasonable for your needs, consider selling. Get over the emotion of it being worth more at the beginning of 2020 and don’t gamble on the future. If you cannot jump out at the current value, get hyper-focused now on comprehensive, realistic exit planning. Call if we can help you think through your specific situation.

 Whatever your situation, these 5 Action Items Apply:

  1.  Get absolute clarity from your CPA or tax advisor and HR consultant on your obligations regarding employment laws under COVID-19 and loan uses / forgiveness. Do what you need to do to have your 2020 financial statements in order shortly after December 31st.
  2. Request an estimate of value based on your best forecast for 2020. This is not an exact science (it never is) but a mid-COVID estimate will give you a baseline for decision-making. Get this done now, you can quickly update it when your numbers are final.
  3. Set out a preliminary goal (target date and value) for the sale of your business.
  4. Design a plan to get from today’s value to your target value by your exit date. Your exit planning should consider: What is working, what needs work, how to get creative…in these 8 areas:

 

    • Brand / Marketing / Business Development
    • Your Customers’ Experience
    • Operations & Key Business Processes
    • Human Capital and Human Resources
    • Profit Improvement, Accounting/Reporting, Cash Flow
    • Risk Management to include Disaster Recovery & Business Continuity
    • Technology
    • Your Personal Finances and long-term plan

 

  1. Make sure that all your advisors are communicating and coordinating as a team on your behalf! If anyone is not doing so, kick them to the curb!

Always happy to have a conversation to provide some guidance!

Stay Healthy & Safe!

 

David Shavzin

David Shavzin, CMC
Exit Strategist – Value Growth, Exit Planning, Succession Planning, Transactions

******************************************

Founder and President, The Value Track, Atlanta, Georgia
Co-Founder and President, Exit Planning Exchange Atlanta

 

770-329-5224 david@GetOnTheValueTrack.com
Our BLOG // LinkedIn // www.GetOnTheValueTrack.com

 

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A Crisis Averted

Jim Weber – Managing Partner, ITB Partners

Andy called me early Monday morning.  He had a crisis to resolve.  It was not a life and death crisis, but a potential blow to his professional credibility and confidence.  He was facing the complete failure of a new venture. This series of events began for me on Friday.

Friday, Andy told me that he had been asked to lead the renewal of a successful networking program organized around a “book club” format.  The originator of this concept is no longer able to lead the program, but it is a well-established brand with further potential.  It is a great honor for Andy to be asked to revive this concept.  Unfortunately, Andy did not have much time to plan the first event as the speaker is publishing a new book at the end of September.  By supporting the book launch even on short notice, Andy created a win-win situation.  His plan was to offer a ZOOM event the following Wednesday and he asked if I could promote it to my network.  I agreed, of course.  Over the weekend, however, Andy’s promotional plans were dashed.  That was the genesis of his Monday morning call.

Monday morning, he explained that he was unable to promote his event as his Internet Service Provider (ISP) suspended his account.  He had exceeded his allowed email volume.  Unable to advertise he faced a stillborn event.  He asked if I could help.

I could relate to his predicament as I had the same experience many years ago.  It was the catalyst that led to a subscription with an Email Marketing Service (EMS).  This EMS reinforced my brand image and improved the effectiveness of my messaging.    I have not had a problem with my email campaigns since.  Also, I can leverage the utility of my website and social media accounts by integrating them with my EMS.  It is one of the best decisions I ever made.

Problem Solved.

I reminded Andy that one of the benefits of membership with ITB Partners is access to our EMS.  He had forgotten that, but he was not familiar with the concept anyway. I explained the value of using an Email Marketing Service and answered his questions; How many emails could we send? How often?  How many people could we engage at one time?  When his questions were answered, he realized his crisis had been averted.

I went to work on his project.  Using his copy, I created an email that will become the template for future campaigns.  It represents his brand well and the message is clear.  He provided me with three email lists that I uploaded into separate folders to be used for his projects only.  Finally, I scheduled the emails to be sent daily, leading to Wednesday’s event.  By midday Monday, Andy was back in business.

Build your business or career.

You need not be a major corporation or an online retailer to enjoy the benefits of your address book.  It is one of your most valuable assets.  I learned this early in my Executive Search Career.  I began sending group mailings to demonstrate my vitality. It was a powerful business development tactic.  I announced new assignments, which generated interest from prospective candidates.  When I announced the completion of a search, prospective clients called me to assist their recruiting for similar positions.  Doubtless, this concept will work for anyone.

Personalize your email campaign.

The smart people in transition create a mailing list from their address book.  They know that their network wants to hear from them and to help if they can.  They use email to keep their contacts up to date on their situation.  They understand that their outreach can be even more interesting if they share their thoughts, ideas, and experience in each post.  This technique has become an effective way to shorten one’s time in a job search.

Build brand equity.

Back to Andy.  Yes, his event was a success.  There were the typical first-time logistical problems associated with a ZOOM meeting, but those issues will diminish over time. The presentation was insightful and well-executed.  Those who attended the meeting were riveted.  Andy did not achieve his attendance goal, but he was not far off.  Word will get out. As the quality of his promotional efforts improves, attendance will follow. I am looking forward to working with Andy to help rebuild this brand.

Your address book is valuable!  USE IT!  If your mailing list is large enough, consider an EMS.

Thank you for visiting our blog.

Jim Weber – Managing Partner, ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

 

 

 

Posted on

Provide Financial Support Without “Writing a Check”

Phillip Davis

Are you affiliated with educational and professional associations?  This includes colleges and their related fraternities and sororities, as well as our state and national professional organizations. These organizations promote our success, past, and future.  We continue our affiliated out of gratitude and, in some cases, for the continuing professional and personal opportunities they provide.

 

Our better natures compel us to “give back” to those who help us achieve the success we enjoy today. Typically, we can give our own time and our money.  However, occasionally we are called on to “solicit” support from other people.  Many of us heed the call, but few of us actually like asking for donations.

What if there were a solution that could raise SIGNIFICANT DONATIONS, not just on a single fund-raising drive, but year-round?  And, what if that solution was “free” to the association and the donor?  This solution exists and can be realized through engaging Retail Benefits, Inc. as part of your fundraising strategy.

Associations that regularly communicate to 10,000 or more people are great candidates for Retail Benefits.  This includes most colleges, universities, and their affiliated fraternities and sororities.  When Retail Benefits cashback shopping is engaged as an element of fundraising, the following advantages will be realized:

  • Year-Round Fund Raising – Cashback giving is automatic and on-going. Once the donor signs up and downloads the shopping app, everything happens automatically.
  • No out-of-pocket expense for donors – Cashback donations are from the money that has always been spent shopping. Therefore, no new donor expenditures are required
  • Reduce/Eliminate the cost of membership – Association can apply cashback to reduce or eliminate dues making it easier for members to join and/or stay affiliated
  • Drive engagement – A portion of cashback can be directed to the donor as “donor bucks” to purchase special offers and merchandise (such as hats, shirts, pins, etc.)
  • Designated donations to multiple purposes – Donations can be subdivided to support annual dues, the building fund, and/or special causes
  • Messaging – Communicate directly to participants via the app on association business

To learn more about cashback shopping and its potential for your association, contact Philip A. Davis at pdavishr@comcast.net or 678-977-5578.

Great Careers – BENG Atlanta Chapter October ZOOM Meeting

Paula Fowler to present: Why People Leave

Why People Leave is a conversation about the four factors of employee engagement – Job, Manager, Team and Culture and how they impact productivity. PI’s motto is Better Work, Better World and the premise is that by understanding human needs and behaviors, we can select a job and company that “fits” our natural tendencies and be happier at work, manage people more successfully and drive company success.

Paula Fowler

Paula Fowler is a strategic leader with a proven ability to create a company-wide vision and drive business results. She has a passion for working directly with entrepreneurs to implement strategies for growth and profitability. Paula has over two decades of management and consulting experience in small to mid-sized businesses across a broad range of functional areas, including sales, marketing, finance, accounting, operations, human resources, customer support, and business development.

She is skilled at analyzing existing operations and implementing strategies, processes, and technology to improve company performance. She believes that entrepreneurs often know what to do – but lack the time or internal expertise to accomplish the task at hand. Paula will deftly tackle the project and drive it to completion.

Paula is also a certified Six Disciplines Coach, a management system for purpose-driven leaders of small to mid-sized companies.  Six Disciplines combines on-site business coaching, workshops, and collaborative software to close the gap between the future vision of a company and today’s reality – by engaging the hearts and minds of every employee in the organization and aligning actions.

Join Zoom Meeting

https://us02web.zoom.us/j/89872287874?pwd=bTBncGVJOU1yT2l3amlML0lIRlF6UT09

Meeting ID: 898 7228 7874

Passcode: 479214