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Mariateresa Romeo with Cometa Coaching

September 28, 2023 by angishields

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Mariateresa-RomeoMariateresa Romeo is an experienced executive coach and organizational behavior professional. She specializes in individual and team performance improvement, executive presence, effective business communication, leadership development, emotional intelligence, and intercultural fluency.

After achieving a Master’s degree in Science of Communication for Business and Organizations from the University of Rome “La Sapienza,” Mariateresa worked in the corporate world for over 20 years as a management consultant.

She has supported several leaders at European and US-based companies, managing strategic initiatives for operational effectiveness and organizational changes. Mariateresa is an ICF-certified Executive Coach (EEC – Milan, Italy), Emotional Intelligence Leadership Coach and Assessor (Six Seconds North America), and Neuro-Linguistic Master Practitioner (NLP University – California, USA). Cometa-Coaching-logo

Since 2015, she has coached clients in various occupations and organizational levels, including high-potential employees, entrepreneurs, and Executives.

Through her coaching and training programs, she helps them get clarity on who they are and what they want out of their life and careers. She also enhances their ability to connect, communicate, and inspire others, discover and use their talents best, and improve their wellbeing.

Mariateresa is originally Italian, and she lives in New York City. She is an art enthusiast, a cellist, and a lover of the sea.

Connect with Mariateresa on LinkedIn.

What You’ll Learn in This Episode

  • How coaching works
  • How do you know if coaching is good for you
  • The difference between coaching and therapy or counseling
  • How to choose the right coach

This transcript is machine transcribed by Sonix

TRANSCRIPT

Intro: Broadcasting live from the Business RadioX Studios in Atlanta, Georgia. It’s time for High Velocity Radio.

Stone Payton: Welcome to the High Velocity radio show where we celebrate top performers producing better results in less time. Stone Payton here with you this morning. Please join me in welcoming back to the Business RadioX microphone with Komeito Coaching LLC. Ms Mariateresa Romeo. Welcome back.

Mariateresa Romeo: Thank you, Stone. Thank you so much for having me again. Good morning, everybody.

Stone Payton: We’re delighted to have you back on the show. We wanted we had Maria Teresa on a on the coach the coach series. Go check out that interview if you haven’t heard that. But we wanted to get her back and kind of dive into some of the questions and considerations associated with engaging a professional coach. And of course, she is extremely well credentialed. She’s ICF certified and a bunch of other stuff that I’m sure she can she can share with us. Maybe a good place to start. This particular conversation would be just kind of a general overview of what coaching really is and maybe how it compares to therapy and counseling and consulting and all of that. And then we can kind of dive into how do we engage the the right coach for us. But how would you describe the the difference in what coaching really is?

Mariateresa Romeo: Yeah. I mean, this is the most common question actually, and it’s something that I usually clarify at the very beginning, very beginning of any coaching relationship with clients, because it’s absolutely important to set the stage and understand how we can work together. So the word coaching comes from coach and the the the word itself. You see, even in English, we use it to, to describe a means of transportation, right? We talk about the coach or the train, the coach with horses. So the reason why we use this word is because coaching means somebody who can help you go from one place that you don’t like it or there is no more in line with your needs, with your values. So situation you you don’t want for yourself anymore to a future say so. Another place that is more in line with what you want. So the coaching relationship is actually someone who drives you from one place to another place. And when I have to explain the differences between coaching and therapy, for example, because sometimes people get confused and they it happens that they ask me, I don’t know if if for this kind of problem I should go and hire a coach or I should go to therapy. So the first thing to clarify is that at in coaching, we have clients, we don’t have passion, right? So we do not substitute, we do not replace, you know, any mental health care. And most importantly, we base our work on the assumption that our client can be responsible for their choices.

Mariateresa Romeo: They can make decisions autonomously, so they can also project themselves in the future state and they don’t have any kind of mental issue. So we don’t try to solve trauma or addiction or mental disorder in general. And most importantly, coaching. The coaching process is usually focused on the present and the future. As I say before, I can help you move from a situation now that you don’t like to a future state. So it’s a very objective, goal oriented process. In therapy, you usually spend a lot of time also to digging in the past to understand the root causes. Yes, we can do some kind of exercise in coaching, but that’s not the main focus. Therapists are more focused on solving, you know, the root causes. So understand the past. For example, your family history, your relationship in the early stage of your life and try to fix them, to process them, to solve the present problems. So it’s a different kind of way of working. But as I say, the most important thing to understand is that, yeah, coaching, we deal with clients, we don’t have passion, so we do not prescribe, we do not we can suggest exercise of things to do. But again, the client is fully responsible. One of my coaching mentors gave me these examples here ago. And say it’s like a taxi. You you get you get in a taxi and say, okay, please, I want to go there. So you tell me where you want to go. I help you get there.

Stone Payton: How how do I know if and when I need a coach? Like, are there. Yeah. How do I. How do I know if I need one? And how do I know? Okay, yeah, I probably do from time to time. But when?

Mariateresa Romeo: Mm Yeah, that’s a very, it’s a very nice question. You know, usually, um, there is a, there is an approach actually there is a easy technique that I find very helpful in several situations. So, um, I will say the starting point is that you want something, you want to achieve something, whether it is in professional or personal life. So if you take a moment and think about what you want to achieve, the first question is to ask yourself, Is that clear to me? I really know exactly what I want when I want to achieve it. And if so, how do you think you you have a strategy or you are capable of defining your plan to get there? Do you think you have the resources? Do you think you can work on it? Um, the other question is do you feel you deserve. So what are some of the feelings around this specific goal specific situation? Do you feel you, you really are passionate or, you know, you feel some resistance, some self-doubt, other stuff that, you know, you might need clarify from an emotional standpoint. So if you try to really give an answer to those easy questions and if the question is yes, so you have a clear idea what you want when how you don’t have any particular you don’t see any particular obstacle for from an emotional standpoint, you feel motivated to get there most importantly so you know that you can do it. You can commit yourself to achieve this goal.

Mariateresa Romeo: Well, you don’t need a coach. You have already everything clear. You have the resources and you can manage it by yourself. But if you think the same situation and you start saying, for example, Oh, you know what, I don’t know how much I really want this, or maybe it’s not clear how. So I know what I want, but I know I don’t know how or yes, I want it, but I have some self-sabotage issues, for example, or deep inside I start working on it, but then I give up or I get back to the previous habit, whatever it is. So if you see any issue, that’s that’s the good way to say, okay, I need a coach because a coach is someone who can help you achieving your goal so it can help you clarify who you are, what you want out of your life, your career or in a specific situation can help you remove your emotional roadblocks, can help you work on the sabotage, can help you project yourself in the future and come up with a plan, you know, in retrospective. How you can get there can help you understand what are resources that you have right now, or what are the skill that you might need and can help you develop those skill, especially if we are talking about, you know, relationship or communication skills. So to me, this is the yeah, the universe or the landscape where a coach usually operates.

Stone Payton: It sounds like one of the most important foundational pieces of working with a coach is that is this clarity, right? Like getting very clear about what you want? Because I know for speaking for myself personally, sometimes I’m a little bit like a squirrel chasing down shiny objects, right? And so and I get very clear and intense on something for a little while and then maybe jump to something else. But it sounds like that that’s a very important early step in the process, this clarity, isn’t it?

Mariateresa Romeo: Yeah, yeah, absolutely. I mean, my approach and this is not only my approach, because this is something that ICF certified coach or at least, you know, coaches who have done a lot of training learn since the very beginning is that the initial part of the process is mainly focused to clarify the goals. So make it clear not only to the client but also to you as a coach, as you can really understand what is exactly where the client wants to go, essentially. And that initial part, I will say, if you do it very well, if you have the client, clarify very well what they want exactly and when and how you have done most of your work right, then the next step is to clear the road of any roadblocks or emotional things. But yeah, as I say before, I mean, if I get on a taxi and I don’t know where to go, I cannot complain with the taxi driver. No, right. Or I cannot complain with anybody. So that’s the thing. The first step is the is the goal. And the other thing that I always highlight in my initial conversation with clients is that we usually say no gap, no coach. What does it mean? It means that if you don’t think that if deep inside you feel or you think there is nothing, you have to change in your life. And at the end of the day, yes, you might come to me and complain about the situation and say, I don’t like it, I’m tired of my boss or I’m not satisfied with my career, whatever it is. But deep inside, at the end of the day, you are comfortable with it. You don’t want to change it. There is no gap. So there is no a future stay because you are not willing to change.

Mariateresa Romeo: At the end of the day you are just self complaining. So coaching in that case can also help you clarify. That is not so uncommon that people come to coaching saying, Oh yeah, I want to revamp my career or I want to have a better habit and be a management better my manager, my work life balance better. But at the end of the day, they enjoy what they are doing, even if there are some ups and downs and they are part of the life, it’s okay. They are okay with what they have. So one of the thing that really coaching can bring is clarity. It’s clarity. It’s clarity about what you want, it’s clarity about what you feel. And I think it’s important. It’s an important step and sometimes you need an external help. I know people might come and say, Oh, you know what? I can do this by myself. I can, you know, sit down and write down my thoughts or whatever. Meditate. Yeah, absolutely. All those kinds of stuff are extremely important. But the coach is also a professional, somebody who can help you with your neuroplasticity. So your ability to develop new neural networks, that means which means see situation from different perspective and most importantly, finding new way to solve your problem. That’s what we do at the end of the day, right behind the scene, the work that we do, that’s the thing. So that clarity can come from a real coaching process where you sit down with somebody, you talk to them, and most importantly, you engage yourself in that relationship because it’s a it’s not only having someone to talk to at the end of the day. It’s a process.

Stone Payton: What a great way to to frame all of this. One of the phrases that you mentioned was clear the road. Could you share like an example of what clearing the road might look like for someone?

Mariateresa Romeo: Yeah. So I’m I’m an emotional intelligence coach. Also. I’m certified in emotional intelligence. So most of the time. Oh, that’s a good example now that I’m thinking about it. You know, when you know that you have to do something like, for example, my doctor told me that I have to lose weight or even if I don’t have a doctor’s prescription, I would like to look thin. I would like to have a better a healthy life, whatever it is. And so you know exactly what to do. You know that you have to sleep more. You know that you have to drink more. You know that you have to exercise at least one hour a day. Maybe you can go to a doctor and get a better diet and say, okay, I have to eat more healthy food so you know what you want. And you say, okay, I don’t need a coach. Right? But the moment you start, you start doing it at the very beginning and everything is fine. You feel energized and then maybe after 1 or 2 weeks, you see, for example, I know that I should have my exercise now, but yeah, no, I’m going to stay on the couch and watch TV instead. Oh yeah. Yes. I really promised myself that I would never drink a lot. But you know what? Yeah. Let me get grab some drink. So whatever it is. So you get back to the previous previous habits or you are not consistent most of the times.

Mariateresa Romeo: And I don’t want to generalize things, but what happens is at least what I experienced in my, in my career as a coach is that there are some emotional roadblocks. So from a cognitive standpoint, from a rational standpoint, you are on it. You know what you want. You know how to how to get there, you’re fine. But from an emotional standpoint, there is some resistance. So, for example, you don’t feel joy, you feel a kind of sense of frustration. You are you know, you are you are having a moment in your life where everything is you have you have, you have, you must. But what is that you really want? So clearing the road for me is also working on those kind of underlying aspects that are not in the surface. Like, you know, like the iceberg. You see the top of it, but you know that below the water, under the water there is a lot. So the coach is someone who can help you get there. You can help you show. Okay. What are some of the feelings associated to this coach and how can you navigate those feelings in order to, of course, achieve your goals? But for example, at the same time, honoring other needs that might be on the way in this moment cannot help you to get there.

Stone Payton: So I know that there are quite a number of people in the coaching profession. I know that some are very well credentialed, others are not. Here in little old Woodstock, Georgia. There are a couple of coaches in some groups that I’m a part of. But how how can I increase the chances of choosing the right coach for me and what I’m trying to get done?

Mariateresa Romeo: Yeah, that’s a very good question. So first of all, I have to admit that the word coach is overused, right? People call themselves coach for everything. It’s user. And also not only in our professional coaching environment. You use the word coaching in the sports entertainment. You know, you have your acting coach if you want to do that kind of career. Um, so the to me, what I usually recommend the client is to first of all verify their credentials in terms of not only if they are certified but also the, the study, you know, their education, their certification, because as I say before, effective coaching is not something that you improvise. It’s not something it’s not just because you are good at talk to people or you are good at listening to people. You can be a coach. I mentioned before that we we really work on the way people behave and most importantly before that, we work on the way you see things that we work on, your languages. We essentially stimulate the neuroplasticity. So that’s the way to the first step to me is understand this person, where they come from, do they study and yes, what what type of study, what type of certification. And as I said, a very good coach is not somebody who just sit there and listen to you or give you some advice. That’s not it’s not it’s somebody who leverages some techniques, somebody who can really master what we call the powerful question that are those questions can can help the client having this kind of aha moment and shift perspective.

Mariateresa Romeo: So important thing really, one of the first thing is the education. The second thing is that it coach at the end of the day have his own specialty. Usually you can work on everything as long as it is in the area. In the space of the coaching, as I say, is not therapy. So but at the end of the day, for example, myself, I specialize in business and executive coach, but it is the result of my life. I’ve been in the working in the corporate environment for more than 20 years, so I don’t have to be an expert. That’s the thing to become a coach. So one of the most common mistake is that people say, Oh, have you done this in the past? Have you had this kind of situation in the past? No, I don’t have to. I don’t have I’m not a consultant, so I don’t have to be a subject matter expert in your specific problem. But what I found, at least for myself, that really helps is the fact that since I’ve been in the corporate environment for 20 years, years, I really can speak my clients languages. I don’t. I easily get what they are going through. I really understand the dynamics and then the even the wording they use, the way they frame things. So that can also help sometimes, you know, you might want to look for a coach who specialize in that specific topics or in the area if it is more a life coach, is a more a career coach or executive.

Mariateresa Romeo: Um, and the other most important thing is that the credentialing and most importantly the ICF, because I personally think that you need to have a code of ethics and this and you need to work according to a standard that are acknowledged and recognized internationally. I know that most of the coaches do not agree with me. In fact, there are a lot of coaches out there that are you know, they call themselves coach, but they do not adhere to any kind of professional association. But my own perspective is that you need that because the client needs to know what to expect from you, needs to know that you have a code of ethics, that also there is a kind of control over your practice in order to avoid fraud. Any kind of risk. And I think it’s important. So, yes, as a client, I will look at those kind of stuff. And the other thing and to be honest with you, I share this in full transparency and look at do a couple of sessions. If since the very beginning you really feel listened, you feel that this is the thing for you. You feel that you get out from that conversation and you feel comfortable, you feel empowered. Or even if you, you know, had some difficulties, you have that the feeling that this this person can help you.

Mariateresa Romeo: That. That’s the thing. I think that is also important. In fact, my personal approach with clients is that I don’t sell packages right away. I always give them one session to try. Yeah, you you pay me only for one session. After that session, you can decide if you can if you want to move forward and continue or not. Um, because, you know, at the end of the day, ICF defining coaching as partnering with clients. So it’s a real relationship and you might have a good coach in front of you, but from for some reason you might not feel this is the right person for you. It’s like dating somehow. Wow. So there is that kind of connection that needs to come out. And if you don’t have that, that’s absolutely fine. It doesn’t mean that was a this person was not a good coach. It means that it’s not a good one for you. It’s like dancing. You might want to have a good dancing partner where it is. There is this kind of vibe and, you know, so yeah, my suggestion, my recommendation is always to at least do 1 or 2 coaching sessions to try and see if you really feel that’s the right type of work, the type of communication, the relationship the you have with this person. This is what you what is in line with who you are at the end, you know, you feel comfortable with and then you can move forward.

Stone Payton: Yeah, no, that makes a lot of sense. Okay. Before we wrap the last topic I wanted to try to touch on is setting expectations for and measuring. And I guess in the final analysis, evaluating the return on investment that you’re getting from the coaching that you’ve engaged.

Mariateresa Romeo: Yeah. Yeah. This is a, um, actually a topic that goes back very often, especially when you work with a corporate environment. Because of course, if I have a private client, a private client, they can easily understand the return on investment because the relationship is just between me and you. We define the goal at the very beginning and then it’s easy for you to understand if you are achieving that goal. Yes or not, in the corporate environment, it’s a little bit difficult because you might need to work with several people at the same time and the company needs to evaluate the overall investment, right? They are paying, for example, a coach to do coaching on an entire team of people or on ten different employees within the firm. However, the the the principle behind is that since coaching is an objective driven process, again, if you define since the very beginning what is that you want to achieve but also what will make you say that it was successful because sometimes you can have a goal but it’s too, you know, not easy to define. And that’s the thing. You can work on that goal, but at the end of the day, you might get to a point and you can ask yourself, Am I doing what I really want? Or me as a coach, I might ask myself, Is the client getting what they want here? So what I do is usually define the goal in a very detailed really.

Mariateresa Romeo: And I usually ask my client this question What will make you say that this coaching process has been successful? And then during the process, the beginning of each session, I usually check in on that goal because it’s something that it might change for some reason, or the client might change idea, but we need to be on the same page on what you want to achieve. So it’s not just going there and talk to a coach and tell and tell them what happened to you this morning. It’s not that it’s a coaching session. Need to have a structure that is focused on achieving that goal and make it measurable, making giving the client the perception if they are achieving that goal, yes or not, in every single session. So that’s the other thing, because that’s one of the reasons why that you do not improvise coaching because it’s something that is very, um, you need to have a technique, you need to have a methodology behind. In this way, you always have the feeling and the perception if that you are achieving your goal, which means you are getting a return on your investment, you are spending your money well, at least for what you expected.

Stone Payton: This has been fantastic. Pure gold. I’m so glad that we set up the time to have this conversation and dive into this topic. Specifically, what is the best way for our listeners to reach out and have a conversation with you or someone on your team?

Mariateresa Romeo: Oh yeah, absolutely. It’s via my website that is w-w-w Kometa coaching.com. Actually in the website you can book a discovery call with me that is absolutely free. It’s just, you know, an open conversation to understand if I can help you, if I’m the right coach for you, etcetera. And also you can eventually book a coaching session at what I call the single laser focus session. Sometimes people do not need a process. They might have a specific situation, a very hard conversation or speaking engagement, something they need to solve right away. So they need a coach to prepare for that kind of engagement, for that kind of event. So I give the opportunity to people to reserve a slot for me. Maybe it can be 60 or 90 minutes to have a laser focus session on a specific topic and that’s it. There is no additional commitment. You can do this via my website and also you will also find a website, all my contact information in case you want to send an email, set up, a different appointment, whatever you need.

Stone Payton: Okay. And that website address one more time.

Mariateresa Romeo: W w w Coach the Coach dot com.

Stone Payton: Well, Maria Teresa, this has been marvelous. Thank you so much for investing the time with us. Keep up the good work. The work you’re doing is so important and we sincerely appreciate you.

Mariateresa Romeo: I really thank you for having me. It’s always a pleasure having a conversation with you. So thank you so much.

Stone Payton: Absolutely. My pleasure. All right. Until next time, this is Stone Payton for our guest today, Maria Teresa Romeo with Kometa Coaching LLC. And everyone here at the Business RadioX family saying we’ll see you in the fast lane.

 

Tagged With: Cometa Coaching

BRX Pro Tip: Ways Your Chamber of Commerce Can Leverage BRX

September 28, 2023 by angishields

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BRX Pro Tip: Ways Your Chamber of Commerce Can Leverage BRX

Stone Payton: [00:00:01] And we are back with BRX Pro Tips. Lee Kantor and Stone Payton here with you. Lee, let’s talk about some ways that your local Chamber of Commerce can leverage the Business RadioX platform.

Lee Kantor: [00:00:13] Yeah, the Business RadioX platform is really a gift for Chambers of Commerce because we get to tell the stories of a business that is happening in their community that they can, then, share to people thinking and moving here. It helps get the word out for their local members. It just really helps them kind of validate how good of a market it is in that city, or county, or region, or wherever that chamber is serving.

Lee Kantor: [00:00:41] So, we should be the best friends to Chamber of Commerce. I highly recommend building relationships with your Chamber of Commerce, and figuring out ways to work together. We add a lot of flavor to events and conferences they do by interviewing some of the participants. We add a lot of value to their members. We add a lot of value to their sponsors. And Chambers of Commerce are really good wingman for studio partners to help get in front of the people that they need to get in front of in order to sell shows and sponsorships. So, it’s a very symbiotic relationship. It’s win/win for everybody. So, I highly recommend getting to know your Chamber of Commerce and them getting to know you.

 

Anne Hamer with Taylor, Bean & Hamer

September 27, 2023 by angishields

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Anne-HamerAnne Hamer focuses her divorce practice on high asset, high conflict cases. She believes that divorce should be handled with professionalism and discretion, and works to diffuse destructive, expensive tactics from overly aggressive opposing counsel, always aiming to maintain the clients’ privacy while preserving assets for settlement. Anne draws from her extensive litigation experience, as well as her work as a trained mediator, to obtain results her clients can not only live with but live well.

Raising her two children as a single mother has taught her many life lessons that go beyond traditional legal services. When it comes to parenting, winning an argument or dispute is not always the most important goal. Serving a child’s best interest can require standing up for what is right or reaching a smart compromise. Either way, guiding parents through these mine fields is very rewarding. Anne works with her clients to develop parenting plans that allow the children to thrive in a new family structure.

A nationally recognized speaker for family lawyers, Anne was recently invited to present to the ABA Family Law Section Spring Conference. She has taught continuing education seminars for the Memphis Bar Association, American Bar Association and Tennessee Society of CPAs. Anne has successfully completed the prestigious ABA Family Law Trial Advocacy course at the National Institute of Trial Advocacy and was a member of the inaugural class of Tennessee Leadership.

She currently practices law in Memphis at Taylor, Bean & Hamer and in Nashville at Wicker, Smith, O’Hara, McCoy and Ford, PLLC. Anne co-founded and successfully grew the family law department at Wicker Smith in Nashville to a regionally recognized practice.

A leader in the legal community, Anne is a 2022 inductee to SuperLawyers. She served as chair of the Family Law Committee of the Memphis Bar Association in 2012. She is an active member of the American Bar Association, the Nashville Bar Association, the Memphis Bar Association and the Association of Women Attorneys. Taylor-Bean-Hamer-logo

Anne served as the Social Committee Co-Chair of the Memphis Bar Association in 2020 and on the Family Law CLE Committee of the Nashville Bar Association in 2019. Anne is active in her community as well, focusing on her children’s education and working to help provide quality public and private educational opportunities for children from all backgrounds.

She has served on the Diversity Committee and as a Family Liason for Hutchison School and as PTO Treasurer for the Germantown Municipal School District. In 2021, she chaired a congressional campaign for Tennessee’s 8th Congressional District. She served on the Committee to Re-elect Judge Robert Weiss in Memphis.

Anne firmly believes that financial contributions go hand in hand with volunteer responsibilities. Before becoming a family law attorney, Anne practiced with Bass, Berry & Sims, PLC in Nashville and Wolff Ardis, P.C. in Memphis, handling complex commercial and products liability litigation.

She graduated from New York University School of Law in 1996 and magna cum laude from the University of Tennessee in 1989, where she was a member of Phi Beta Kappa.

For fun, Anne travels with her two daughters, both of whom are adopted and Hispanic. They travel to Mexico annually to foster the girls’ relationships with their birth families, practice Spanish and experience the rich Mexican culture

Anne spends her free time driving to her girls’ athletic and social events and playing tennis. She loves Napa Valley, New York City and snow skiing anywhere. Her new favorite exercise is lifting barbells. She also enjoys golf and tennis.

This transcript is machine transcribed by Sonix

TRANSCRIPT

Intro: Broadcasting live from the Business RadioX Studios in Atlanta, Georgia. It’s time for High Velocity Radio.

Stone Payton: Welcome to the High Velocity radio show where we celebrate top performers producing better results in less time. Stone Payton here with you this afternoon and you guys are in for a real treat. Please join me in welcoming to the broadcast with Taylor, Bean and Hamer, the lady herself. Ms. Anne Hamer, how are you?

Anne Hamer: Hi, Stone. Thanks for having me.

Stone Payton: Oh, it is a delight to have you on the show. I’ve really been looking forward to this conversation. I have got a thousand questions. I know we’re not going to get to them all, but I think a good place to start would be if you could articulate for me and our listening audience, mission, purpose. What are you and your firm really out there trying to trying to do for folks?

Anne Hamer: Well, Stone, you know, I’m a family law attorney and that’s a nice way to put it. I’m a divorce lawyer, But of course, we do care about the whole family. It’s not just getting people divorced. There’s children involved oftentimes. And once people do divorce, they can still be issues that come up and we handle those. I would say that our firm purpose, obviously, is to help our clients get through the divorce, create the kind of life they want to see for themselves after the divorce, reestablish themselves financially career wise, create a new parenting paradigm that works for them. And that’s that’s what we do. We like to we like to think of ourselves as holistic divorce lawyers because we want all that to happen and we want to be as integral a part of that as we can because we have so much experience with it. My personal purpose, ever since I became divorced, is to help people through what I personally found was the most challenging experience I’ve ever had, literally the most challenging experience of my life. And once I went through it as a divorce lawyer, I changed my entire attitude about my clients, the way I practice law, my commitment to it. I just exponentially felt much more committed. And I do believe that it’s my life’s work to help people get through a divorce and get on to the new and great part of life that’s coming after.

Stone Payton: Well, you’ve touched on part of it already, but what is the full back story? How does one find themselves in a position of being an attorney and specializing in this particular arena? What was your path?

Anne Hamer: You know, I’m glad you asked me that because I was at a conference this weekend talking with a lot of different women, divorce lawyers in particular. I think women are drawn to the divorce law profession because it’s something that works well with a lot of other responsibilities. You’re not staying up all night at a big firm working on taking a company public. You’re not getting ready for trial every other day where you’re going to be in trial seven, eight weeks on some kind of SEC action class action lawsuit or something like that. And you can be the master of your own destiny. With regard to how many clients you take, how much you want to work, what what kind of complex complexity to to bring to your cases. If you want to do the high asset, high conflict divorces like I do, that’s an option. You certainly get remunerated very well for that. But if you want to take more of a small town low key approach, you can you can do that too. So it’s it’s been a great career for me as a as a woman. I think the men who go into it, you know, it’s very financially lucrative and you can build your practice to be as big as you want it or keep it as small as you want it and serve your clients in a in an easygoing manner. Or you can be a bulldog and, and make it super intense. So it gives you a lot of flexibility. And of course you can you can open up your own shop, be your own boss, and you don’t have to work in a big firm. And I think that for me is one of the big, big draws.

Stone Payton: So let’s dive into the work a little bit. I’m really interested to know about conversations or like the I’m from the training consulting world, so I would call it an engagement. It’s probably a different word for you, but like those first few conversations, like with the early part of your work with a client, how does it how do you start?

Anne Hamer: You know, it’s so hard. I had two initial consultations yesterday, and I can tell you both of them after I get done just listening. It really takes it out of me because when they come in, they’re so emotional. There’s always tears at men or women. People are just so disappointed with with the thing that’s happening to them, whether they’re the one who caused it or whether they’re the one who wants it or they don’t. It’s just even if, you know, you want to get out of a marriage, it’s. Still horrible for you to do so. So those initial conversations, I start by just listening and trying to understand the emotional framework behind what’s going on, and then I try to give them some peace of mind to what the process is going to look like. But it is very hard for people to take their whole life and shove it down the funnel of the law and have attorneys come get involved and dig into their personal finances and their their personal choices in life. It’s just it’s heart wrenching to watch it happen to them. I try to make it as painless as possible, but it’s like surgery.

Stone Payton: So on the other side of that coin, you’ve been at it a while. I can tell that you do have a passion for the work. I can see it in your eyes. I can hear it in your in your voice. What do you find at this point? What are you finding the most rewarding? Like what? What do you enjoy the most about the work at this point in your career?

Anne Hamer: I’d say there’s two things. I absolutely love it when I get someone divorced and they’re done and they’re happy and they know that they’ve got some financial backing to go forward and either recreate their life or start building a new. I love being able to push people into that next step. So yeah, that’s that would be one of the things. But I also really enjoy the strategy behind it. I love the strategy behind it. I love being able to meet with the clients, explain the law to them. Sometimes they don’t like what they have to hear, but we do have to work within that. The parameters of what’s legal, what courts have done, what courts will continue to do. And I do enjoy meeting with them and getting to discuss that with them. And we strategize about how to best use their resources because some people don’t want 120, 200, literally $500,000 trial. Some people do. And and working with them to figure out how much are they willing to fight, how much do they want me to negotiate so we don’t have to spend their resources that way? That to me is very rewarding as well. If I can get them the result they want that way, it’s super rewarding experience. The more money I can save for them, honestly, the better. I love to try a lawsuit. I love to be in front of a judge. I love to get ready for court. All that is is very appealing to me as part of my career. But looking at my clients in the eye to tell them you probably shouldn’t spend your money this way is something that I that I take very seriously as well.

Stone Payton: I got to believe that at least early in the client relationship, you run across probably pretty consistently some pretty widely held. I don’t know what the right word myths, misconceptions, you know, maybe it’s I can tell you this. Everything I know about the law is what I see on television, right? Like Perry Mason or Law and Order. Are there some kind of consistent prevailing misconceptions or things that people just that’s just not how it works, guys kind of thing?

Anne Hamer: I think so, yeah. I think and I think people make up their own as they go along, you know, while it’s just not fair that I have to pay that alimony, well, it’s not fair in your mind, but it is very fair to this judge who’s going to make you do it. It’s not fair that I’m going to have to drive carpool two days a week and he’s only going to have to drive it one day a month or whatever that is. They make those up in their own mind. And I do think. Our judges really encouraged the clients to come to court. I think it’s something they maybe have started recently teaching in Judge School, but if the clients would get into the courthouse and see how long we actually just sit around waiting for the hearing to start, how much money they’re spending to have me down there waiting for the judge to tell me. Well, Ms.. Hammer, you know, I don’t agree. So you can just go back and tell your client no. It’s very helpful for them to see that. It’s not like suits. Okay? It’s not all it’s not all fun and games.

Anne Hamer: A lot of it’s sitting around. You know, you have to get to know your judges. You have to get to know opposing counsel. I think one thing my clients always think is that I’m supposed to hate opposing counsel. It’s just not true. We all work together, right? So we see each other. It’s like Wiley Coyote and that sheepdog on the cartoon. Well, you’re down there in the courthouse day after day. We sit next to each other. We go up on different cases every day. So we don’t hate the other attorney. I’ve learned not to be super nice to him in front of my clients because the clients think you’re working behind their back, things like that. And that’s just not the case. But when I watch suits or when I watch Law and Order, you know, you see the DA and the public defender kind of squaring off and we do that in front of the judge. But the rest of the time it’s pretty low key, pretty low key. Not everybody now can get along, but most people do.

Stone Payton: So this might be a little tactical and too case specific, but I am curious because it represents a situation I could be in. I certainly hope not. But privately owned business. Like how do you divide something like that up or do you evaluate it and then give a cash alternative? Like how does that kind of stuff work?

Anne Hamer: It’s pretty tricky. You evaluate it and you get to a cash alternative. Now, sometimes we have husbands and wives who work together.

Stone Payton: Oh my.

Anne Hamer: And oh yeah, we do. And they can continue to work together. I’ve had I’ve had husbands and wives continue to work together in the business post-divorce without problem. It’s but but typically we go to an expert who will give you a valuation for the business. The hard part is when, when and I was working with a client on this yesterday, when I’ve got a client who needs a lot of cash resources to be able to run their business, they’ve got to have that cash flow and now they’re going to have to buy somebody out. Where does the money come from? And so we can kind of structure those over time. It’s a buyout over time because a lot of people do not have the cash just sitting around without selling their house or liquidating some other big asset a lot of people do. You’d be surprised. But yes, with a with a closely held business and there may have never been an appraisal done. There may have never been an offer made on that business. That person probably never had an intent to sell it or thought about what it was worth. Another thing people who own their own businesses need to think about is the kind of expenses you’re running through. Your business will come up. So I’ve had a client come in with nothing but the cell phone and his advertising running through the business. I love that guy. Right. Because he’s so on the up and up. But a lot of people are running their full on wardrobe or their mortgage or all sorts of things that go through that. I say, well, that’s going to come out. I mean, the opposing counsel is going to see it. So you do need to be a little careful about how you run, how you’re operating your business and who’s going to be looking at those documents if you find yourself in a divorce situation.

Stone Payton: So if you’re finding yourself in a divorce situation, and particularly if you’re in business, but I guess this would apply to anybody, is there some rule of thumb or what’s practical in terms of a set of financial goals related to the settlement or related to the divorce? Because I mean, I’d like to think that I just want everybody to win. And, you know, and let’s get through this. But should it be like, I don’t know.

Anne Hamer: Well, sure. So it just depends which side I’m on. If I’m representing the breadwinner, my goal is to keep them as as wealthy as I can, make sure they come out as close to 5050 as possible. This is assuming it’s a long term marriage and that all the assets are marital and set them up so that they aren’t strapped for cash in the future so they can rebuild, especially if they do own their own business because there’s child support to be considered too, on top of alimony if alimony is going to get paid or if there’s some long term payout that that was a part of the property division. Now, if I’ve got the non income earning spouse or the low income earning spouse, obviously I have a very different strategy, which is going to be let’s get her as much as we can and not to be sexist, but still in this day in America, that typically is the woman, not always any more. And women are driving divorce rates. Now, I think I just saw a statistic. Maybe 60 to 70% of divorces are instigated by women now, which they never were that high in the past because women are making their own money. So when you have a divorce where the parties are in economic parity, it could be either side, probably more likely the woman who’s going to initiate it. But my my goal, of course, we always think our goal is to get it done right. And 5050 is pretty close to right in most situations or maybe a little bit different depending on the earning potential and the earning power. But obviously my goal is to set everybody up for success when they get done.

Stone Payton: So how does the whole sales and marketing thing work for this profession and a practice like yours? Like do you find yourself or is there someone in in the firm that is going out and shaking the trees or is it all just referral based business or how does that work?

Anne Hamer: So it’s crazy. I mean, it’s to me being in the marketing and I’m the head of the marketing for our firm. It has changed so much. You know, my my law partner, Dan Taylor, has got 43 reported opinions at the Court of Appeals. He’s been doing this for 43 years. He’s had so many wins. His business all used to just come in off of his reputation. For younger lawyers like myself and my law partners, it’s a different deal nowadays. You’ve got to get your face out there. You have to be known. Your website has to be up to date. It cannot look old and fuddy duddy. You need to be getting in front of the public all the time talking about it, you know, and cities are so big and so diverse now that it’s it’s hard to just say, oh, I went up to the country club and I met a guy who’s getting divorced and he sent me, you know, his business. That’s just that still happens, but not the volume that it used to or in order to bring in the volume. You can’t practice law that way anymore. That’s how I’d put it. But the marketing is just crazy. I mean, you’re marketing yourself and the way we bill is by our time.

Anne Hamer: So if a client wants to hire me and they want me working on their case, that doesn’t mean my associate and that doesn’t mean my law partner and that doesn’t mean my legal assistant or my paralegal. They want access to me, but I only have 24 hours in a day. And some of those I sleep. So it’s kind of hard to to spread yourself around. And that’s where I see most with these sort of celebrity type. I call them celebrities because they’re such good lawyers and they’re and they’re so well known. But you do reach a saturation point where you just can’t give that attention to that many more clients. So the goal there is to build your firm to be giving the quality work that you would do yourself and give that to your clients. And your whole firm becomes known for doing quality work like that. And people feel very comfortable going to you knowing I might not get to talk to her, but once a week. But everybody else I’m going to have interactions with is somebody that I feel has my best interests at heart.

Stone Payton: Well, what’s coming into focus for me? I’m so glad I asked the question because I don’t think it really dawned on me, Well, you have to be really excellent at practicing your craft. Oh, by the way, you got to run this business, too. Yeah. Yeah.

Anne Hamer: And that’s a surprise for a lot of young lawyers when they go out on their own. I knew it was coming when I went on my own, and I wish I’d done it sooner. But at the same time, the startup is, you know, from from 0 to 60, you got to be ready to hit it hard with the websites and the and the constant information going out to the public on all the different ways you you market yourself. You can’t just go to the Rotary Club once a year and give a speech on updates on divorce. That’s just not it anymore. So yeah, it’s it’s intense. Running running your own law firm is very different from just getting to write the briefs and deal with the clients. It’s a whole different ballgame.

Stone Payton: Have you had. I’m sure the answer is yes. I guess I’d ask tell me a little bit about. But have you had the benefit of one or more mentors along this journey that kind of helped you navigate this terrain, especially early on?

Anne Hamer: I have I have I’ve had some really good mentors. I worked with Bob Walker at Bass Berry Sims when I first started out in the litigation department, and we had very, very high end litigation. I learned how to conduct myself with clients and with other fellow attorneys in a professional manner that I think gives clients a lot of confidence. And that was sort of an old school white shoe firm, and it was a great way to learn how to practice law in what I believe is the way it should be done. And after that, I went to work for a plaintiff’s attorney, Pat artist. And Pat was just nuts. You know, we were flying in private planes around the country trying to sue Ford Motor Company and and GM and all the big car companies. And that was a lot of aggression in in practice. And I like to learn in that side of it, too. So I would say yes to to be able to get those kind of mentors who were so good at what they did in very different types of litigation gave me a lot of understanding about how I would want to conduct myself when I had my own practice.

Stone Payton: And now that you do, you probably find yourself in some kind of mentoring relationships or at least filling that role to some degree now at being the mentor, right?

Anne Hamer: I do. I do. And I still have my own mentors because I work with two fabulous partners, Dan Taylor and John Bean. They’re both just such quality attorneys. And so for me, every day that I come in, I think I’ve got to live up to that caliber of practice. And and we do expect it from everybody in the firm. And I feel like everybody in the firm brings that to the table, whether it’s a legal assistant or a paralegal or another associate. I feel like they all understand that that’s how we practice here and that’s how it’s expected to be. And they they enjoy working that way.

Stone Payton: Before we wrap, I’m going to switch gears on you a little bit, if we could. I’m curious to know, and I don’t know where you would find the time and the energy, but I’m curious to know about what, if any, passions outside the scope of your work that my listeners know that I enjoyed. I enjoy hunting, fishing and traveling. That’s that’s that’s my thing. Is there anything you have a tendency to nerd out about that’s just well outside the scope of, of legal work?

Anne Hamer: I totally nerd out about golf. I’ve gotten so into it. I’ve got I’ve got all sorts of new clubs that I’m in love with. I’ve got a little four hybrid that is that I love and a new non-wood that’s teeny tiny. It’s so cute. And I’m killing it with that thing right now. So I’m in love with that. So golf is my nerd out and I do love to travel, but and I do find the time to do it. But it’s starting to get to be it’s going to be less and less time traveling, I’m afraid, unless I can come up with someplace to go where they’re also doing legal work.

Stone Payton: But I mean, it’s important, I think I think you would agree to I call it white space to those of us who own businesses and have that leadership role or just running just even a solo shop. I mean, you got to create a little white space and to be able to recharge and regain perspective, Right?

Anne Hamer: I agree. And if you don’t, you’re really going to burn out. I mean, I think people especially I’m 56, I see a lot of people around my age burning out. I had ten years that I took off in the middle when I was a stay at home mom. And I think I feel like that’s sort of the the Venus and Serena Williams tennis model. You know, they take some time off and do what they want to do. And then they were able to come back and have really successful careers later in in life later than any other woman tennis player ever was able to accomplish. So I do think the time off is key. And and you’ve got to do it or you’re not going to have the the bandwidth for your clients. Not in my not in my kind of practice. You’re just not.

Stone Payton: Was that a tough restart, like being out ten years and then coming back in that had to have some challenges associated with it.

Anne Hamer: It was it was really hard. And I will say it was very difficult, but I was so afraid if I didn’t go back that computers were just going to take over the whole thing and I wasn’t going to know how to use them. So I’m glad I did. You know, we’re so challenged now with AI coming up, how how is that going to affect our practice and what’s going to happen? I’ll just say we got to embrace it and learn it because it’s coming. You know, computers have definitely made the practice of law easier, but AI is coming and it’s going to change the whole game. So if you’re not in it now to win it and figure that stuff out, you’re going to be left behind. My thinking that’s the next big challenge our legal profession is going to face is how to harness that and use it the right way for our clients.

Stone Payton: I’m sure you’re right about that. I’d love to to leave our listeners with if we could. I call them Pro Tips, but what I’m after is just a couple practical, actionable things. Someone who may be in this situation or may be headed, you know, down this road, something to that. They should be reading, you know, some some some do’s, some don’ts or just anything even like for me, I don’t even know that I would even know what questions to ask an attorney I was considering engaging like I would be clueless. You know, any tips on any of that would be fantastic for me. Well, hopefully not for me, but.

Anne Hamer: Hopefully not for you. Yeah, sure. In fact, I’m glad you asked me that, because my. And this is true. This isn’t a setup. My book just came out this week on Amazon. It’s called I know, I know. I’m So excited. It’s called Fearless Freedom. And I wrote it for that very reason so that people could read it and understand the process of divorce before they go meet with their first divorce lawyer so they know what to pull together for the high income or, you know, the higher income earner and a family. If you’re miserable, go ahead and get out, because the longer you’re staying in that marriage, you’re just increasing the big Ole alimony target on your back. For the low income earner. I would say get your ducks in a row financially. Find out where the money is, find out how much there is. Figure out if you need to go get a job. I have people come to me and say, well, I’ve never worked and I know I’m going to get alimony. And I think my best friend told me I shouldn’t go get a job. I never encourage anybody not to work. It won’t matter. The judges are going to want to see you trying to do something. When I’m in court and I’m representing a woman who’s working 2 or 3 jobs just to make ends meet.

Anne Hamer: My judge is going to probably bend over backwards to get her whatever she needs. So I always encourage everybody, you know, go get what you need. Do you need to get finish your nursing degree? Do you need to get whatever skills you’re going to you’re going to need to move on with your life. Go ahead and do it while you’re married. And it’s getting paid for with marital money. If you’re really serious, you can make a plan to do it. If you read my book, you’ll know the financial information you need to pull together for your lawyer so they can look at your financial situation and give you some pretty good advice about that. But the other advice I’d give everybody know your finances don’t have a spouse who’s got a secret credit card you don’t know anything about. You need to know about that. Don’t let your spouse be taken out a lock on the house that you don’t know about you or don’t sign the tax return without reading it and looking at it and asking the accountant questions. You may not be ready for divorce, but you might be living in a marriage where your finances aren’t buttoned up. And the first thing you need to do is understand your 100% marital financial picture before you make any decisions about leaving. That would be my best advice.

Stone Payton: So what was the name of this book again?

Anne Hamer: It’s called Fearless Freedom. It’s called Fearless Freedom A Divorced Divorce Lawyers Guide to Divorce. So I kind of got divorced in there a lot. Maybe it’ll be an easy search term, but you can get it off my website. You can get it on Amazon. And and it literally just came out this week. I’m so proud and so excited. Well, I’m.

Stone Payton: Excited for you. So talk a little bit about the experience of writing a book. Did you find that some parts of it came together super easy, slam dunk and other parts like you struggled with a little bit?

Anne Hamer: Totally, Yes. The the parts that came easy to me were writing about the legal part of it. You know how to get your financial information, put together, how to meet with your attorney and talk to them about your goals, all that. That’s what I do, right? But the harder part was I did want it to be a self-help book because when I got divorced, several people brought me really good self-help books and I thought, I’d love to just put this all together and also have it be a normal self-help book and not goofy, not weird advice like go get a cat or do some gardening or stuff that I read that I thought, I’m not doing that. I might play more golf. So I, I want it to be both. And the self-help part is, is not natural to me to write or to research. So that that stuff took a little bit longer, like a list of things to remember to treat yourself better, stuff like that, that that was a little bit harder to do. But I hope it’s a great resource. I really think I really think it is. And I’ve had some fabulous attorneys review it for me and they loved it, so that made me feel really good about it. I hope it’s something that can make other people’s divorce situation better and easier.

Stone Payton: Well, it sounds like it’s a marvelous resource, and I want to make sure that our listeners are able to tap into your work and connect with you. I want them to have access to this book. I want them to be able, if they wanted to reach out and have a conversation with you or someone in the firm. So let’s leave them with with all of those coordinates, whatever you feel like is appropriate. Any of that contact info?

Anne Hamer: Okay, sure. I think the easiest way to get a hold of me is my website. It’s Ann Hammer law.com and it’s got links to to contact me. It’s got links to my firms and it will have a link to the book. So and it also has a lot of resources on the website as well as and when I say resources, I mean spreadsheets you can fill out that have your financial information on them. You can work on your monthly expenses. You can start coming up with your own division of property, things that let you really start thinking about what what your next steps are going to be if you do decide to go through a divorce.

Stone Payton: Fantastic. Well, and it has been an absolute delight having you on the show. Thank you for sharing your insight, your perspective. Keep up the good work. Don’t be a stranger. Keep us posted when you write your next book or whatever the next big thing is, or you you win that pro-am.

Anne Hamer: That’ll be the next thing.

Stone Payton: But this has been fantastic and we sincerely appreciate you.

Anne Hamer: Thank you, Stone. I really loved.

Stone Payton: It. My pleasure. All right. Until next time. This is Stone Payton for our guest today, Anne Hammer with Taylor Bean and Hammer. And everyone here at the Business RadioX family saying we’ll see you in the fast lane.

 

Tagged With: Taylor Bean & Hamer

The Wrap Podcast | Episode 063 | Seizing Opportunities in the Tech Industry | Warren Averett

September 27, 2023 by angishields

The Wrap
The Wrap
The Wrap Podcast | Episode 063 | Seizing Opportunities in the Tech Industry | Warren Averett
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Opportunities abound for technology companies, but in such a dynamic industry, how can business leaders navigate risk and plan for continued success?

In this episode of The Wrap, our hosts are joined by two of Warren Averett’s technology industry experts, Larry Pirkle, CPA, and Yogesh Patel, CPA, CFE, to discuss the challenges and opportunities affecting business leaders in the tech space. Listen in to learn more about raising capital and growing revenue, finding employees with up-to-date experience and protecting customer data.

In this episode, you’ll hear:

  • Discussion about raising capital and the impact rising interest rates are having on valuations
  • Advice for growing revenue and investing funds back into the business
  • Insight about the importance of product development for tech companies
  • How the advancements in AI are affecting the search for experienced developers
  • Information about SOC reports and whether they are a worthwhile expense

Resources for additional information:

  • Podcast: Episode 014 – Your Team’s Work Makes Your Dreams Work (Recruiting and Retaining Employees)
  • Podcast: Episode 039 – Why is SOC Reporting Important to Service Provider Businesses?
  • Blog: Every Financially Strong SaaS Business Model Embraces These 4 Vital Elements
  • Blog: Four Ways Technology Companies Can Weather a Recession or Economic Downturn
  • Blog: What is a SOC Report? (And Other Questions Answered About Your Internal Controls)
  • Blog: Five Key Considerations for Growth-Stage Fintechs
  • Blog: Guide for Software Companies Being Acquired by Private Equity
TRANSCRIPT

Commentators (0:02): You’re listening to The Wrap, a Warren Averett podcast for business leaders designed to help you access vital business information and trends when you need it. So, you can listen, learn and then get on with your day. Now, let’s get down to business.

Paul Perry (00:16): Everybody, welcome to another episode of The Wrap here at Warren Averett. We’re glad to have some of our friends with us today. I think this is Episode 63. Today, we’re going to be talking to folks in our Technology and Life Sciences Industry Group. They work with a lot of companies in that space, and we are so happy to have them here. Today, we also have with us a new co-host for The Wrap. I’m happy to have my friend Derek Johnson out of the Tampa office.

If you remember way back on Episode 14, we talked about recruiting and retaining talent. Derek, it is good to have you as a co-host today.

Derek Johnson (00:51): Paul, thanks for having me. I’m Derek Johnson out of the Tampa office. I’ve been here a little over nine years at the firm, spearheading the staffing and recruiting arm for our Florida operations. But enough about me, the stars of the show are both Larry Pirkle from our Birmingham office and Yogesh Patel from our Atlanta office. How about you to introduce yourselves for the show?

Yogesh Patel (01:16): Yeah, sure. Before I do that, I guess one thing I will bring up is… Larry, I think you and I share a big milestone here at Warren Averett. We’re 20 years in, so that’s exciting. It’s gone by fast. I think it’s a big milestone for us, and I’m excited that we’ve reached that. A lot of my time at Warren Averett is spent advising fast-growing companies, founders and CEOs from both early stage all the way to mature middle market that are typically acquiring or looking at some type of transaction on the horizon. A lot of the companies are backed by the growth equity firms or may even have a control investment by private equity. So that’s where I spend most of my time, Larry?

Larry Pirkle (02:00): You are correct, this is 20 years for me as well. It’s been fun, and it goes by quickly. But yeah, I also work with a lot of tech companies, emerging growth companies and private equity companies and their portfolio companies. I also have the privilege of leading our Technology and Life Sciences Industry Group.

Paul Perry (02:17): Gentlemen, sorry, but I’ll say it again. We’re really happy to have you all with us today and look forward to this discussion. So, let’s really jump right in. There are a lot of challenges and opportunities that these types of companies in this industry face that maybe others don’t. Today, we’re going to talk about some of those. I think one of the first ones we wanted to talk about—Larry, we’ll start with you—what challenges and opportunities are companies in the industry facing as it relates to raising capital?

Larry Pirkle (02:39): Yes, I think one thing that is facing the industry, particularly as it pertains to raising capital, could be the macroeconomics of interest rates increasing. If you look at the public markets as an indicator, we saw them decline significantly in 2022 last year, and then rebound considerably in 2023.

I think some are starting to wonder now if that rebound anticipated rates leveling means that they may start to come down sooner than they’re actually going to. It now appears that they’re going to come down. But I think as interest rates go, they have a direct impact on valuations and valuations can have a direct impact on raising capital.

Yogesh Patel (03:22): Yeah, I agree with you, Larry. I think raising capital in 2023 is a lot different than in 2021 and 2022. I think with a lot of our technology companies, a lot of technology is coming out there. What they saw was term sheets overnight in the last couple of years with high valuations in terms of growth equity firms and private equity firms willing to invest. We’ve seen that slow down a little bit right now.

Overall year over year, capital rates have gone down. Series A and Series B have gone down, and the valuations are becoming more realistic. I think that’s really part of the challenge right now. Then, you throw SVP and Signature Bank as well into the mix. I think access to capital continues to be somewhat of a challenge, since it’s more restricted right now than what we’ve seen the last couple of years. But on the flip side opportunity-wise, there’s still a lot of capital on the sideline.

For good, fast-growing companies, especially if you’re B2B or SaaS—high margins and high ARR—you’re going to be able to raise capital easily, I think. There are some higher valuations out there that are AR company-driven, but I think those are more outliers. For example, Series A raises roughly $2 to $4 million on average, valuing at $25 to $50 million. On the opportunity side, there’s still a lot of options out there in terms of meeting some suitors to raise capital.

Larry Pirkle (04:53): I think deals are still being completed. Maybe buyers are just being a little bit more cautious in this environment. At the end of the day, maybe the dial is just turned down a little bit, but it’s definitely not turned off.

Derek Johnson (05:07): That’s very interesting, guys. There are still some silver linings. There are some good things going on. In the meantime, what are these companies doing and what challenges are they facing trying to just grow their revenue and do good business?

Yogesh Patel (05:23): Growing revenue is—as Larry alluded to earlier on is at the top was just the macroeconomic conditions, right? I think if you are a B2B technology company selling to enterprise clients or any other type of business customers, the challenge in growing the revenue is: are you one of those application (like cloud apps) that are not necessary? It’s nice to have, but it’s not a must-have.

I think in these conditions that CEOs and CFOs are looking at probably 200 cloud apps, right? They have 20 of those that may need to be scrapped. So, ensuring that you’re not one of those 20 and that you’re continually developing the product and you have that must-have type of platform that your customers want.

Larry Pirkle (06:08): Yeah. I think revenues is something for companies in this industry to focus on historically. ARR (Annual Recurring Revenue) has been a significant factor in valuing these companies. So, it can be a great time to look to your customers, listen to their feedback and reinvest in some development of new features that meet their needs and really focus on revenues.

But at the same time, I think it’s also a good opportunity to focus on other things, such as your labor. It can be a challenging time right now to find qualified developers in this space. Inflation has affected salaries for the labor in this area. Then, there’s also the shift in more and more professionals in this industry working remote. That may be remote here domestically, but it may even mean that you’re working with developers across the globe.

Yogesh Patel (07:05): Larry, you just reminded me of something. In terms of growing revenues, Derek, you had mentioned that we see a lot of companies with a significant cash balance. I think it’s key to understanding, where do you invest that? As Larry mentioned, is it in development? Do you go out and look for a strategic target to acquire? There are different ways to grow those revenues, right? I think if you’ve got the cash or the ability to invest, making sure you make the investment in the right places is also key to growing the revenue.

Paul Perry (07:33): Yogesh, you mentioned product development. Let’s unpack that a little bit further, because I’m sure that’s another huge challenge and opportunity for folks in this industry that maybe other industries don’t have and don’t see. Can you go a little bit further on what those challenges around product development are that you haven’t already talked about and what they need to be thinking about?

Yogesh Patel (07:55): Yeah, sure. So, there’s Generative AI. Generative AI is a hot topic, right? I think product development-wise, it’s continuing to enhance the technology. It may not be Generative AI, but I think your customers continuously look for you to enhance your product and they expect that. So how do you do that? I think some of the things that we’re seeing is what Larry had alluded to as far as developers go.

You may have some great expertise in-house with the DevOps and with creating the platform and enhancing that platform, but you may not have anybody that has AI experience. Now, you’ve got to go out and find that talent, right? I think that’s one of the challenges that you see in terms of product development, making sure that you have the right resources in-house or whether you’re outsourcing as far as development goes and continuously looking for that as you grow the product.

Larry Pirkle (08:47): I think with product development, like Yogesh alluded to, new technologies are coming on the scene all the time. The big one that you referred to when Microsoft goes and invests in a ChatGPT, it gets on everyone’s radar. Suddenly, there’s a rush to AI. You see that in the public market valuations indicating the premiums that are being paid for that industry.

But technological change is the norm here in this industry. So, whether it’s AI right now or whatever the next thing is down the road in the future, this is a challenge. But also, an opportunity in this industry is managing the technology changes—not being caught by surprise—but embracing those, looking forward to what’s the next one and thinking about how you can leverage it and take advantage of that change.

Yogesh Patel (09:35): I think one good example is Bill.com. I think Bill.com has like a $12 billion market cap. They’ve been around for a while. Their technology’s been around for a while, but they still demand a high stock price. Why is that? They continuously enhance the product. So, if you go to Bill.com now, they’ve got some AI built in that technology and I think they’re going to continue to make investment in that AI.

QuickBooks is another one that’s continually enhancing the project product overall. These are just accounting and finance applications I’m giving examples of, but really, it’s across the board for any application for companies that use technology.

Larry Pirkle (10:17): Undergirding all this is that you’re trying to keep an eye on your competition by making sure your product stays current or ahead of what others in your space are doing. You see a lot of companies employing approaches where you try to get out a product quick to the market, some minimally viable products that you can get out quickly—either your initial product launch or even your subsequent development and enhancement, so that you can get out to market quickly and immediately start obtaining user feedback from your product that you then use to build the next upgrade to your product.

Commentators (10:57): Want to receive a monthly newsletter with Wrap topics? Then head on over to https://warrenaverett.com/thewrap, and subscribe to our email list to have it delivered right to your inbox. Now, back to the show.

Derek Johnson (11:09): Guys, talk about the constant change and development and redevelopment. You know, I just stretched back to episode 14 where Paul had me. You hear about retaining talent—Larry, you dipped your toe in that pool a minute ago—my staffing census started to hum in my head and all this development requires great talent. What are you guys seeing? What are your clients telling you? Larry, since you cracked that egg, why not go first and tell me, what are they seeing with the talent in their staffing situations? What are they up against?

Larry Pirkle (11:42): Yeah, I went through it quickly, but I think it is good to stop here, pivot and expand on it a little bit because I think it is important. At the end of the day, technology is all about those who are creating the technology. You’ve got to have the developers who are writing the code and developing the technology and like we mentioned, the labor market is tight in this area right now. So first, just finding good developers. I think companies are having to be creative about how they do that, whether it’s offshoring to other countries to obtain the right amount and the right skillset or a hybrid of U.S.-based and overseas, global-based developers. Also, that can have an impact on salaries.

You may get some salary benefit in other countries, but that’s another topic that has to be addressed and managed because salaries are increasing. As the demand for developers increases, the price for those developers is going up. Then, as you gain the benefits of more availability, maybe a little bit better pricing of salary level from going overseas, but then it creates its own challenges of managing remote workers.

You’ve got different time zones that must be managed. Even in the U.S., pretty much everyone went home for COVID. Companies are starting to reconsider that. Maybe it’s certain days of the week or a mandate to get more and more people back into the office. I think every company is having to think through: how do we manage our remote workers? Do they stay remote, or do they need to get back into the office?

Yogesh Patel (13:20): Derek, I’ll speak a little bit to what’s near and dear to your heart, which is finding the right candidate, right? In terms of aspects of a technology company that’s growing fast. A lot of times, it’s about asking the right questions when you find the right candidate. On paper, they have the right experience that you need, but it’s what are they really looking for? Because in a technology company, when you’re building the product as a $1 million company and building that technology is completely different from when you’ve built it and you’re now a $25 million to $50 million company.

What I mean by that is, the developer may be looking for a different experience. Maybe they already want a built product and that’s what they want to do in terms of moving forward, or they may want to build a product. I think it’s important to understand what they’re looking for to be able to make a good match. A lot of times, folks want to work at a startup, but what they really may be looking for is a Google or a Salesforce that has that work and play environment that’s already established versus a true startup where you’re just grinding it out, right? Trying to get to that 1 million ARR or 5 million ARR, it’s really a grind for companies to make it all the way up to that level when you’re first starting out.

Paul Perry (14:27): Larry, we’re talking about things that are specific to this industry. I know you and I have a lot of these conversations because of your clients, and you always talk to our group, Yogesh, as well. Every company in the world is quickly becoming a data company because we’re all holding information. But that’s at the core of what a technology company is, right? I’m sure that there are challenges that you see when you’re talking to your clients as it relates to how they verify and vouch the security of the data that they’re holding.

Again, everybody’s about to be in the space, but the technology industry really built this. We see a lot of things in the news about Google, Microsoft and GDPR over in the European Union. California’s got their privacy laws. So, what are the challenges you’re seeing with your clients as it relates to that verifying of the data that they hold?

Larry Pirkle (15:21): I think that cybersecurity and cyber-protection are very important, especially in the technology space. As you mentioned, you are holding your customers’ data on your systems and your networks. I think there’s at least two layers of defense. There’s the internal and the external from an internal standpoint. That can be everything from the applications and programs that you obtain to protect that data.

It can also be the people that you have, the security experts that you have in-house to make sure that you’ve got appropriate policies and protocols. I think more and more customers, while they may trust you, they’re being held responsible for verifying that trust. So, it’s not uncommon for a customer to call and say we need to see your SOC report. A SOC report is a report that a third party, such as an accounting firm, has said that your policies and procedures are in accordance with a particular framework or standard. It’s a written report that backs up and communicates to the third parties that are trusting in your company that you do have appropriate safeguards and controls in place.

Yogesh Patel (16:40): Paul, you and I just spoke last week, regarding a company that called because they formed a strategic partnership with a public company. Now, suddenly there are some requirements that they weren’t really prepared for or had anticipated. So, I think the key is just anticipating—especially when you’re growing fast—what those requirements may be. We’ve got a few examples of this. There was a fintech company that we worked with who got acquired by a strategic public company.

They were growing fast, and they landed a client they’d been wanting to land for quite some time. As that due diligence process played out, they had to get a SOC 1 report. There were no ifs, ands or buts. That had to be done for that contract to be signed. That was quite a bit of challenge to get through that process, in terms of making sure that contract could be executed. So really, the moral of the story is just anticipate what those requirements are.

It’s better to do that on your own timetable, versus being forced to comply and then going through that process. I think that’s really the key there when it comes to when you’re housing data and some of the potential compliance that may come with it.

Paul Perry (17:49): I think the key takeaway from that, Yogesh, is to anticipate it. You can’t overstate that enough. How many times do we get a phone call and it’s, “Hey, I need this in two weeks, two months.” You know, we’re talking 6-10 months before something like that can really be done well. So, anticipation is the key there.

Larry Pirkle (18:09): I would just add that when you’re a tech company and you’re trying to manage your cash, you’ve raised some capital and you’re really focused on your costs and making sure you really invest your cash in the most appropriate ways. It can be tempting to see security, particularly a third-party assessment of your controls and your security, as a cost. But then you get that one call from that prized new customer. They want that report and you’re caught off guard without it. That can be a dangerous situation as well.

Paul Perry (18:43): We sometimes refer to it as a revenue protector, right? If you don’t have that or have the good controls in place, your revenue is not going to be as protected as you want it to be.

Derek Johnson (18:55): It’s a lot to digest. We’ve got SOC reports and we’ve chatted about growing revenues, raising capital and the age-old topic of talent. We could probably go on for hours. What if we did a round two of this podcast? What would be on that potential laundry list of items we could talk about?

Larry Pirkle (19:16): I think to some extent, some of these are evergreen. We would talk about a number of these topics again: labor, capital and these sorts of things.

A couple of things that we might expand into I think would be that protecting your IP is important. We could delve into that a little bit further. I think we could expand on the cybersecurity that we talked about. I think another area that we haven’t spent much time about but we could dive in deeper a little bit into are some of the unique opportunities for technology companies from both an accounting and tax perspective.

There are unique issues that present themselves. All the spending on research and development can sometimes result in beneficial tax opportunities. Companies are doing mergers and acquisitions. So, while you could talk about the business side, that also creates certain accounting and tax situations. While it’s fun to talk about generating revenue, at the same time, it can result in significant revenue recognition issues because the contracts in this area tend to be complicated with a lot of elements all going into one contract.

There are some benefits that you can get a tax credit for and you can sometimes capitalize on your books. Sometimes, companies forget that you don’t have to expense all that right now. You can sort of say, “Hey, we’re investing for the future,” and reflect on your financial statements. A lot of these companies—because they’re short on cash—may reward employees to some extent with equity. We could talk about equity rewards. Again, one more area that has unique accounting ramifications. So, there could be an opportunity to talk about some of those topics and harmonize those with any impacts to their financial statements in their taxes.

Yogesh Patel (20:59): Yeah, I think those are all great and we could probably even do a third podcast if you were there to unpack some more of the areas. Like, for example, we talked about raising capital, right? With that, do you have the appropriate legal structure? What are the options or what makes you investor-friendly to take on the capital? That’s a whole separate discussion itself that we typically advise, as well as just-right sizing the business overall. Do you have the right accounting structure in place?

There are several areas that I think we typically see and that are hurdles, if you will, as you continue to grow as a tech company, that we would spend time talking more about if we had more time today.

Paul Perry (21:42): Good stuff, guys. So here on The Wrap, we like to wrap it up in 60 seconds or less. Yogesh, let’s start with you. What’s the one thing you want to leave the listeners in this industry with: either something we’ve already talked about or something new that wasn’t discussed?

Yogesh Patel (22:02): Thanks, Paul. I think one of the things that I would say that we didn’t really talk about is to make sure that you have a good CFO or VP of finance in place. In terms of, especially the macroeconomic conditions that Larry had outlined earlier, you need someone in that seat who’s actively tracking key metrics of the business, so you know where you’re going. What customers are you making money on? Which ones are you losing money on? Just things that can help you continue to grow and be profitable as a business. A lot of times we see growing tech companies invest more in their COO and sales side of the house. Sometimes, the finance is lacking. So, I think one of the things that I would want to reiterate is make sure you have a good finance leader in place to help you continue to grow and be successful. Larry?

Larry Pirkle (22:45): I think those are great points. You want to have your accounting records in order. It becomes important, not just for managing and understanding your business and making decisions, but also when it comes time to raise capital or perhaps sell the business, there’s going to be a significant amount of transaction due diligence and you may need assistance with that. A significant focus on that is going to be what we call the quality of your earnings, that there are not these spikes and unusual ups and downs in your numbers, but that there are predictable trends, which is one of the reasons that SAS has become so popular. Everyone wants that recurring revenue versus the old days when you’re selling a license every year, upgrading the maintenance or whatever. People want that recurring revenue because buyers are looking for that as they focus on purchasing companies. That brings me back to where I would leave it: just focus on growing your revenues, developing a customer-centric culture, listening to your customers and their feedback, great customer service and support. Also, that you’re incorporating and listening to your customers as you think about what’s most important in future product development.

Paul Perry (23:54): Gentlemen, this was an absolute pleasure. You clearly know your stuff. You clearly know this industry. Thank you for communicating that expertise to our listeners. Derek, it was an absolute pleasure to have you as a co-host. I look forward to future podcasts. Gentlemen, thank you all very much.

Yogesh Patel (24:12): Thanks for having us.

Commentators (24:14): And that’s a wrap. If you’re enjoying the podcast, please leave a review on your streaming platform. To check out more episodes, subscribe to the podcast series or make a suggestion of other topics you want to hear, visit us at https://warrenaverett.com/thewrap/.

BRX Pro Tip: Incremental Success

September 27, 2023 by angishields

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BRX Pro Tip: Incremental Success
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BRX Pro Tip: Incremental Success

Stone Payton: [00:00:00] Welcome back to Business RadioX Pro Tips. Stone Payton and Lee Kantor here with you. You know, Lee, sometimes success can sort of sneak up on you. Talk a little bit about looking out for identifying, or maybe even building, systems and processes for creating incremental success.

Lee Kantor: [00:00:21] Yeah. I think this is one of the things that when you’re doing your work and your heads down every day. You’re doing the work and you don’t realize how far you’ve come. You don’t really appreciate all that you have. And you’re focused on maybe the things you don’t have. And you’re not really understanding the value that you’ve been providing and the progress that you’ve made.

Lee Kantor: [00:00:45] So, I think that for most people, when you work really hard for a decent amount of time, you’ll get incrementally better and you’re not going to notice it. But what you’ll notice down the road is, all of a sudden, you’re having all this good fortune and all these opportunities are coming your way. And it’s hard for you to put your finger on it because it isn’t obvious. And I think what’s happening is that, now, you’re getting some of the benefits of all that compounding that we’ve talked about in the past. That, all that work, all those relationships you’ve helped, all the folks that you’ve kind of served are now kind of looking out for you. And, now, you’re starting to see the fruits of your labor.

Lee Kantor: [00:01:25] So, I think it’s important to periodically kind of assess where you’re at, and to take a snapshot, and to kind of compare where you are today versus where you were a quarter ago, or a year ago, or five years ago. Because you don’t see it while you’re doing it, but it’s happening in the background. It’s happening. And all those relationships, all those people out there that you’ve helped are looking to help you. And then, some of that stuff’s going to come your way down the road. So, just keep grinding and good things will happen.

Rome International Film Festival podcast with Seth Ingram from RIFF, and Randy Davidson with Georgia Entertainment News

September 26, 2023 by angishields

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Rome International Film Festival
Rome International Film Festival podcast with Seth Ingram from RIFF, and Randy Davidson with Georgia Entertainment News
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Tagged With: Broad Street, Georgia Entertainment News, Hardy on Broad, Hardy Realty, Hardy Realty Studio, Manco Logistics, Manco Logistics Corp., Randy Davidson, RIFF, Rome International Film Festival, Seth Ingram

Stephanie Diamond with Diamond Chick Consulting and Tommy Honrine with Ameris Bank

September 26, 2023 by angishields

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Stephanie Diamond with Diamond Chick Consulting and Tommy Honrine with Ameris Bank
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Today Brian Pruett welcomes Stephanie Diamond from Diamond Chick Consulting and Tommy Honrine with Ameris Bank. Stephanie shares her background in the nonprofit world, her experience at a community foundation, and her transition into the insurance industry. She also provides guidance on shopping for insurance, the role of insurance agents, and the advantages of community involvement for small businesses. Tommy shares the importance of community involvement and personalized banking services. He also discusses online banking security.

Stephanie-Diamond-headshotWith years of experience in health, life insurance and employee benefits, Stephanie Diamond, an expert in the industry, has helped countless clients find plans that fit their lifestyles and give them peace of mind.

Stephanie cares deeply about connecting relevant resources within the community and puts this into action by volunteering at Mostly Mutts Animal Shelter, BNI and making regular contributions to community projects.

Stephanie and her 2 KSU student children have lived in Cobb county 23 years. In her free time, you can find Stephanie doing Karaoke, walking dogs, playing with her 4 cats or riding rollercoasters with her Monkey.

Tommy-Honrine-headshotTommy Honrine is a Georgia native.  He graduated from Georgia Southern University with a degree in Business Management in 2003 and has been in banking in one form or another for 20 years.

Tommy started out in banking working for a consumer lending division of HSBC bank in 2003.  At HSBC his role was a loan officer.  He refinanced mortgages, did helocs, personal loans and auto loans.  After the 2008 housing crises, Tommy went to work for Wachovia.  He obtained his series 6, series 63 and Live and Variable insurance licenses.

Tommy was a Financial specialist with Wachovia until they were acquired by Wells Fargo in 2010.  He was a business banker and branch manager with Wells Fargo.  In 2013, he went to work for Fidelity Bank as a branch manager.  In 2019, Fidelity Bank merged with Ameris Bank.  Tommy has been with Ameris Bank/Fidelity Bank for over 10 years.

Tommy’s hobbies include Golf, barbequing, grilling, home improvements and playing guitar.  He lives in Acworth with his girlfriend Evanne and his corgi puppy Holly.

Tommy is passionate about banking.  His favorite aspect is educating customers on credit, building credit and how to keep boost their credit score.  He also likes seeing customers satisfied after switching to Ameris.  Many times, he sees they are not used to the level of customer service Ameris provides and are pleasantly surprised.

This transcript is machine transcribed by Sonix

TRANSCRIPT

Intro: Broadcasting live from the Business RadioX Studios in Atlanta. It’s time for Charitable Georgia. Brought to you by B’s Charitable Pursuits and Resources. We put the fun in fund raising. For more information, go to B’s Charitable Pursuits. Dot com. That’s B’s Charitable Pursuits dot com. Now here’s your host, Brian Pruett.

Brian Pruett: Good, fabulous Friday. It’s another fabulous Friday. And we’ve got two fabulous guests this morning. We were supposed to have three, but somebody had an emergency that couldn’t be here. So we’ll bring him back on. So it’s nice fall weather out there this morning. So looking forward to actually staying fall. So our first guest this morning. Well, first of all, this is your first time listening to Charitable Georgia. This is all about positive things happening in the community. And so we’ve got, as I mentioned, two fabulous guests. And our first guest this morning is Stephanie Diamond from Diamond Chick Consulting. Stephanie, thanks for being here this morning.

Stephanie Diamond: Thank you for having me. It’s a pleasure to be here. First day of.

Brian Pruett: Fall. There you go. So I like the the name of your business, obviously, with your name and stuff like that. But you and I sat down and talked and you have a passion for helping people in many different ways. But what caught my attention was being a volunteer at mostly Mutts for several, I guess, several years. You still do some of that right now? Absolutely, Yeah. So if you don’t mind, just share a little bit of your background, then we’ll talk about Diamond Consulting.

Stephanie Diamond: All right. Well, just to give you a little bit of background, I do have two children that are both at KSU right now, and I’m super proud of them. They’ve been doing Yeah, Go Owls. I I’m a military brat. My dad was in the military, so we traveled all around when I was growing up. We grew up primarily in Greer, South Carolina. I moved to Atlanta in 1999 to get married, and then we started having children. And then I graduated from college. College of Charleston was a theater major, went into the nonprofit world after college because theater is not where you make money, although nonprofit is not where you make money either. However, I used a lot of my skills that I learned from being in theater and arts management in the nonprofit world. So I worked for a community foundation for a few years and then had my children and then went back to work at a school for dyslexic children. For ten years, I worked in the admissions and outplacement department and what a fulfilling job that was. I mean, I was able to talk to the parents who were were just at their they had exhausted every resource. And I was able to provide comfort and solutions and resources. And that was a great position for me. Things change as we go down the road. And I needed to find something a little bit more lucrative because I was having to support my family on my own. So I went into the insurance world. Wow, what a sharp contrast. That was quite amazing. But what I realized is that the insurance world needed me because I brought humanity back into it. And I’m someone who is going to listen to what someone says and listen to what someone wants and really figure out what someone needs and not just put them in what I want them to be put in, which is what a lot of people do these days. So it’s been nice to be able to bring my non profit attitude to a for profit world.

Brian Pruett: So so share a little bit about more about the non profit. So the community theater stuff that you did, right? It was community theater.

Stephanie Diamond: It was Community Foundation.

Brian Pruett: Foundation, right. Can you share about that?

Stephanie Diamond: Yeah. So what I came in as the administrative administrator of assistant and absolutely loved the job. I love the people I worked with. I loved the waking up every morning knowing I was doing something really good for the community. A lot of what we did was go into other non-profits to make sure that they were doing all the things they were supposed to be doing and that the the people creating the endowments and providing those donations, their money was going to the right places. So we did a lot of I got to know a lot of the community. We had a lot of community events that brought in all kinds of people from different communities. And down in Charleston, South Carolina, that was that was quite a it was a very interesting eye opening experience because. There was a lot of people that I met that I never would have met if I had not been in that role. So and that’s really what my passion is, is just meeting brand new people almost every day. I’ve I try to I try to be as active and proactive in my networking and meeting people as I possibly can because you just never know what that person’s going to bring to your world.

Brian Pruett: Right. And that’s one thing I love about, you know, guys listening. If you don’t know that’s what I do, is community fundraising events. And that’s what I love about the events is the fact that you do get to meet a lot of people that even going out and networking that you wouldn’t meet because a lot of the folks don’t either know about networking, know how to network or scared to network or whatever. So it’s great to have and that can be a networking in itself. So. Right. Um, you currently still volunteer for mostly Mutts?

Stephanie Diamond: I do. I started volunteering, so back in 21 when everything was so exciting and wonderful in this world, I needed a pick me up and volunteering was the way I needed to do it because like I said, I came from a nonprofit background and I hadn’t been able to do that since being having this role. So I and I’m a huge animal lover and I walk dogs every Monday morning from 8 to 10. And it is the best way to start a week. What a great way to just get myself out of bed and start with a positive attitude. And it’s been incredible. And I’m going to be I’m having surgery on my knee next week. I’m having knee replacement. So I am having to step down from that role for about two months. But I’ll be doing other things too, to compensate for that because that organization needs help and I love working with them and I encourage other people to reach out to volunteer as well.

Brian Pruett: So you don’t want the dogs walking you when you’re after you have your surgery.

Stephanie Diamond: Exactly. And I have had dogs Walk me before.

Brian Pruett: So can you share a little bit about mostly mutts where they’re at and other things they do?

Stephanie Diamond: So mostly Mutts is a shelter in Kennesaw, Georgia, obviously. I guess we’re all here and they it’s off of Cherokee and Ben King Road. They bring it. They rescue animals from the different humane societies and really just remediate the animals, find homes for them. And the fostering program there is it’s it’s unbelievable. I’ve actually there are more dogs in foster than there are at the shelter, which is amazing because that’s where animals are going to do better when they’re in. Foster So again, I do any time I talk to anybody, I try to encourage them to somehow get involved in any way you can. But the other way, the other program that mostly Mutts just opened was their market, which is off of Bell’s Ferry in 92. And I’m going to tell you what, if you’re a thrift shopper, that’s the place to go. So I highly recommend they take donations and they they sell the things that people are donating. And it’s a but it’s all run by volunteers. So that’s why it’s so important for our community to to pitch in.

Brian Pruett: Do you know when the hours might be for that? They open certain.

Stephanie Diamond: Times. They’re open from, I believe, 10 to 4. I could be wrong and I should have written that down. I apologize. Thursday through Saturday. Okay. The market is the the shelter is open. Obviously, we are year round. But you can go and check out our cute little animals during the week. I believe it’s from 10 to 3 when you can go and and meet some new friends and there’s cats as well. It’s not just dogs and we had a goat and I think we’ve had some fish. So. Awesome. It’s mostly mutts.

Brian Pruett: There you go. There you go. All right. So let’s talk a little bit about being involved in the community. You’ve already mentioned about being in Charleston and stuff and you love being a part of the community. Why is it important to be part of the community?

Stephanie Diamond: Because we live in it. We want to know who’s who we’re living around. We want to know who’s making decisions. We want to know how those decisions are affecting people. I, I mean, I have I have just. Dived. Use the right term right tense into the community in Kennesaw. I’m going to tell you, I’ve lived there for two years and that is an amazing, amazing community right there. They welcome especially small businesses with open arms. Acworth the same way, Woodstock, all this area out west of Atlanta has just been unbelievable. So. Yeah. I don’t know if I answered your question.

Brian Pruett: Yeah, you did.

Stephanie Diamond: I can go off on tangents, so that’s fine.

Brian Pruett: Let’s talk about the networking piece too, because we always talk about networking is really part of the community as well. But there’s a lot of I mean, there are some negative to to networking, but mostly positive stuff. Yeah. And it’s very powerful as well. Can you share a positive testimonial for networking?

Stephanie Diamond: So can I share a little bit about. Definitely my big networking? Sure. So I am involved, heavily involved with the BNI and I actually just became an area director with this region up here, which I’m super excited about.

Brian Pruett: Congratulations.

Stephanie Diamond: Thank you. Thank you. I just finished up my year as president with my home chapter, and I’m going to tell you, it has been the the view that I have seen all year or that I’ve had all year to be able to see a group, a room of, of small businesses work together so intentionally to help build each other and and encourage each other and empower our each other even when we fall down and bump our knees. But we’re there to watch everybody pick everybody up has just been amazing. So networking, I think, has a connotation of you’re looking for business. For me, I’m looking for personal relationships, not personal relationships, but cultivating business relationships personally, if you will. So I’ve been able to really to be able to see that from my view, this past year has been so inspiring and to just to see how much has changed. I mean, our chapter went we had we had I mean, every every group has its issues. So it’s been great to to see everybody pitch in and work together.

Brian Pruett: So you talk about BNI and that’s for those who don’t know. Bni is a closed networking group. There are a lot of other groups out there that are free and open networking, and there are some folks that have maybe misnomers or don’t like the closed seats and everything like that. So can you maybe debunked anything about the closed networking?

Stephanie Diamond: So the closed networking to me is kind of where you go to learn how to network. I mean, it’s a place where there are so many tools and so many resources that are available with a membership. Through an organization like this, you’ve got you’ve got professional development, you’ve got podcasts, you’ve got presentations, you have I mean, there’s just there’s. It’s a it’s a well-oiled machine if you do it the right way. And I forgot what the question was because I had so maybe debunked.

Brian Pruett: Yes.

Stephanie Diamond: So if you are if you are someone who is. If you’re someone who’s been in business for a long time, you’ve done all the professional development. You’ve created your your, your book of business. That may not be the right place. Maybe it’s really for people who want to improve, not who want to stay still or just earn business. It’s for people who want to propel themselves into the next level. And I think that’s that’s what I have seen. And that’s where when people are excited about being I, that’s where they’re talking about. It’s how it took them to from here to there. And sometimes you don’t even see it until it’s a year or two and you look back and you’re like, Oh my gosh, look how far I’ve come. But when you can use the tools that you learn in that closed networking group to go out into the into the real world, it really just helps. It helps boost who you are and it makes people wonder where you learned how to do all that.

Brian Pruett: So can you maybe explain for those listening who may not know the difference between a closed networking and an open networking group?

Stephanie Diamond: So closed networking is you’ve got a group of people who there’s one person per industry in that room and that is your referral partner. You are you’re what you’re doing in that in those rooms are building relationships. So, you know, like and trust the people that they will represent you well and that you can represent them well. And you’re really intentionally looking for work. You’re you’re learning you’re kind of a sales team for your for your members. Open networking is where you go out and you again, talk about the people that you know in your chapter that could help people out there. So you go to networks and you ask, you hear you’re on the listen out for those trigger words that you’ve been you’ve been trained to listen for by your referral partners. So it’s referral partners versus networking. That’s that’s basically that’s that’s really the the the short of it.

Brian Pruett: Would you also agree maybe that there are certain industries that the close networking may not be as good for as versus some of the open networking? In my experience, I’ve found that some of the industries, especially some are even the smaller versus the even small businesses. It’s to me, some of the smaller the closed groups may not be the right platform, whereas starting out in an open networking and again, this is just my opinion, but starting out in an open networking group and then you build it that way, then eventually you could go to a small. But would you agree with that, that there are some industries that may not be as a good networking or as a good platform?

Stephanie Diamond: Do you have an industry in mind that you’re thinking of that may be?

Brian Pruett: Well, for instance, my my industry, right? I even though I need sponsorships for events. Some of the people may look at the upfront cost to join like a BNI group to that and say, well, I don’t have the money. And so it may not fit, but I’m just thinking there are um. I don’t know. I can’t think. I don’t know. There are. I just think some of the smaller industries that I mean obviously the service industries, the insurance, all of those bankers, that could be a good platform for BNI there. I just feel like there might be some others that are. Just very niche.

Stephanie Diamond: So I think one of the things that really stuck with me and why it worked well with me, it was because it was an investment. I put I mean, it’s not cheap, but I put in the I’m putting in the time, the effort and the money. I’m going to I’m going to really take this seriously. I’m going to I’m not going to, you know, just kind of go to the meetings and be done with it. I’m going to do all the little things that they tell me to do. I’m going to I’m going to take their advice. And I think that with businesses that are starting off that may not have that that that foundation, one, we have options. We have payment options to that may just be the thing that gets you over that hump and it may be the thing that gets you to to that next level. I think when you when you are part of an organization like this and you’ve never done networking before, it’s hard to go to those open networking events because it’s hard to know how to, one, read the body language or jump into a conversation with someone that you don’t know. If you’re a part of BNI, you’re kind of. You are. Yeah, you’re groomed to go into these and just to walk up and be able to start a conversation or get yourself involved with a conversation. I think that it’s I think there’s more value going from BNI to open networking than the opposite, just because you’re learning.

Brian Pruett: What about somebody who’s strictly a B2C versus a B2B?

Stephanie Diamond: I think that there it just depends on what you’re wanting to get out of it. If you’re wanting just business, if all you need is just business, then go to open networking. But if you’re wanting professional development, if you’re wanting to, to cultivate those relationships, BNI is where you go because it’s a weekly meeting, it’s a there’s accountability. There’s a lot of they’ve got. So yes.

Brian Pruett: And I would say, too, that even even the open networking, it’s still about establish a relationship don’t go in. Like I mentioned before, when I first started, I wanted to go and hand every single business card, get every business card, try to sell everybody. And you don’t want to do that. It’s all about learning and building that relationship well.

Stephanie Diamond: And that’s something that you learn in BNI and you learn how to strategically go and network and you learn not to go in and hand out your card and sell to everybody. And then the more you do, the better you get at it, the more comfortable it just it’s a it’s, it’s basically you’re practicing open network to me is practicing what I’ve learned in Barry. So.

Brian Pruett: All right. So let’s talk about Diamond consulting.

Stephanie Diamond: All right Stick with the plan.

Brian Pruett: Yeah. There you go. So share about what you do. I mean, you mentioned a little bit about the insurance, but share about what you do, who you’re working with.

Stephanie Diamond: So I am I was a captive agent. I’ve been an insurance agent for five years now. I was captive for about three of those years and realized I was turning away so much business because not everybody could was qualified for the the policies that I had. So I said, you know what? I got to get myself. I got appointed with all the main carriers and I got I’m doing okay. I pretty much anything I could sign up for and get appointed with I did, which is a good thing and also a bad thing. There’s a lot of stuff I don’t even know if I that I there’s a lot of things in my my toolbox I don’t even know I have yet. But when I do and I that that came to that because every conversation I have about insurance is different. There’s never the same conversation. It’s never a quote unquote lay down where it’s just you need insurance done. It’s not like car insurance. So what I what I bring to the table is I help. I’m not selling insurance. I’m helping people purchase their insurance. And I really am focusing on small businesses who have been around for about 2 to 3 years who have. But maybe they’ve been in the corporate world for their whole life and then during the pandemic, had to change everything up and they became their own bosses and they didn’t need.

Stephanie Diamond: Well, they might have purchased insurance for themselves and that kind of with their family and everything, but all of a sudden they’ve got a staff of people who they need benefits, they need something to keep their employees on on staff. If you want to if you want to attain and retain good employees, you need to be able to give them something. And it can be very overwhelming for a business owner to start shopping for insurance. I mean, it’s I don’t know if you’ve ever shopped for insurance, but it’s it’s it’s overwhelming. And they do that on purpose. So I would like I I’m strictly working or not strictly I am really focusing on those businesses that need someone to give them that push to say you need to do this. This is what I recommend and I’m recommending this because of this. It’s not set in stone, you know, just kind of calm their nerves and make sure that they understand that it’s not the end of the world. And you know, it is affordable. And again, it’s reinvesting in your in your business and in yourself and in your employees as well. So I try to bring that humanity side back to back to insurance. But yeah, so.

Brian Pruett: This is we’re talking about health insurance. Health insurance. Yes. You mentioned the word captive. You’re a captive. You said for a couple of years. Right, Right, right. Can you explain what that is?

Stephanie Diamond: So a captive agent is someone who works primarily or works just with one insurance company. So they can’t they can say that they can shop all the plans, but they really can’t. They can look at them. Anybody can look at most insurance. Now, private insurance is a little different. Private insurance is great for those that are actually people who live in prosperous areas who are not prosperous, actually do very well with marketplace insurance. However, if you are in a if you’re in a not so prosperous area and you’re one of the more prosperous people, your insurance rates are going to be out the roof. So it’s nice to know that there are options out there to bring that cost down. And, you know, again, just alleviating that anxiety and letting people know it’s not the I mean, things can change. We can talk about this in six months and we’ll you know, I’m here to make sure that you are that you’re covered. You know what you have. You know how to use it. And if I see something that might be better, I’m going to recommend it for you as well.

Brian Pruett: So and I think that’s important because even when you’re talking about somebody that’s in the property casualty type of insurance, you know, a good example of my when my parents and I moved here in 79, we had a guy that was with a particular agency and he passed away unexpectedly. And then we got a letter in the mail saying that he passed away and this is your new. But we’d never seen him. And that’s been 20 years ago. Yeah, right. So it’s nice to know that there are people out there in health insurance, other insurance groups that, you know, you can call and talk to and then are proactive and helping, you know, the clients as well.

Stephanie Diamond: And sometimes that’s all people want is someone to talk to when something has gone wrong with your insurance, whether it’s your commercial home and auto health, whatever, it’s usually a bad situation. So they really have a touch point and someone who’s going to pick up the phone and say, Dang, I’m really sorry that happened. Let me let me help you out with this. I may not be able to adjust all the claims, but I can at least hold your hand and help you get to the next to the next person that will be able to make that make those changes. So.

Brian Pruett: So if a business individual is listening, I’d like to give I’d like for you to give some a couple pieces of nuggets, if you don’t mind. So first of all. There are some people out there that think, well, you know, and this may be true, I don’t know, but it’s cheaper for me not to have insurance and just go pay out of pocket. But can you maybe give a benefit of why you should carry insurance?

Stephanie Diamond: So I actually agree with that. I think that most of our most of our health coverage, most of the health coverage people are worried about are your doctor visits. And that is not why you get insurance. You don’t get insurance for your car insurance. You don’t get insurance. So you can take it to get its oil changed or even the tires fixed or even a new air conditioner. You get it when there’s something major. If you shop for health insurance in that same way, the money you save generally is astronomical because cash pay is king. Cash is always king.

Brian Pruett: And when you’re gone.

Stephanie Diamond: Well, until it’s gone. But if you don’t have catastrophic, catastrophic is really where it’s at. That’s kind of what you want is insurance. So that if you go to the doctor and they find something, then you’ve got coverage. You don’t go to the doctor having, you know, your doctor visits free. They’re not free. You’re paying for them somewhere. There’s no such thing as a free lunch. Right? And you can’t take advantage of the system. The system is too smart. So what you can do is be smart and know how insurance should work. And it’s funny how when when I talk to some people who’ve never had insurance or haven’t been insured for a while, they start asking a lot of questions like, what is it? Does it cover this? Does it cover that? Can I go here? Can I go? I’m like, What have you been doing for the last ten years? Let’s think about this here, you know, so it’s yeah, so that that would be one of the things I would recommend. And if there are, there are a lot of. Advocacy groups out there now because of the state of our world and our society. People and because the cost of insurance has gone up, some people a lot of people have just said, forget it. I’m not paying for it. I’d rather just, you know, I’ll go bankrupt, whatever. There are programs out there that will help those that have that have outstanding medical bills if something major does happen. So that would.

Brian Pruett: And I think what you brought up too, about the catastrophic is important because people out there, while I’m healthy, I don’t I don’t go to the doctor that often. No, nothing’s promised. You’re just one second away from something. So.

Stephanie Diamond: And as soon as you say I’m healthy, nothing’s happened. You’re going to walk out the door and something’s going to happen. So be careful what you say. But no, it’s. Yeah, I think that a lot of us are overinsured and there are a lot of especially through Marketplace, those plans cover a lot of things that especially men, men aren’t even going to use half of it because a lot of it’s maternity. So you know look at what your what your plans include And again work with a professional who knows how to look at things and compare and can explain it to you. If you’re talking to someone who doesn’t know the difference between these one or this or that, that’s not the right person for you because that person’s probably looking to put you on something that’s lucrative for them, not for you.

Brian Pruett: So let’s give advice to a business owner who you mentioned working with business owners and being able to provide that for their employees. Yeah. So first of all, what size is a business would be that you would work with?

Stephanie Diamond: So a my ideal, my ideal size would be between 3 and 7. Okay.

Brian Pruett: So for that business owner who has never carried an insurance for employees, right? What does that look like? Do they pay for the insurance or do they walk through somebody who might be interested but say, my business can’t pay for that or whatever? What does that look like?

Stephanie Diamond: So there are several, several things we can do there. One, and I’ll go I’ll go ahead and just name one of the policies that I have is Aflac. I mean, Aflac is a great way to start offering benefits because it comes it comes out of payroll. So as a business owner, you’re not even seeing that expense because of the way that it’s, you know, all the taxes and stuff like that. So I would definitely recommend if you’re wanting to start there, Aflac is a great way to start. If you if you’re if your staff or employees want to have additional additional insurance or coverage, you can offer a 50% split, you can offer 100% reimbursement. It’s just really up to you what you as a business owner can afford and want to do. Now, the other thing is you can put them on a catastrophic plan. And if they want to add dental and vision or some other things, let that be an option to them. They can pay for it. But if you can, if a business owner can pay for the the meat of the insurance, that’s going to be what a great way to show your your employees that you care. And it saves your business, too. Because if something should happen to that employee, they’ve got coverage. I mean, it’s just there. It’s like I said, you don’t want to over insure and you don’t want to break the bank trying to give all these benefits, but you definitely want to make sure that your, your your peeps are covered, right? Yeah.

Brian Pruett: Yeah.

Stephanie Diamond: And you’re covered as a business owner, right? If you’re not covered, if you’re a business owner and you do not have insurance, we need to talk because big time we need to talk that and that’s that’s usually the people that need to talk the most but don’t have time to talk.

Brian Pruett: Well, you talked about this earlier that especially in today’s society, a lot of it’s it’s chaos out there. People are scared. They don’t know what to do. And so a lot of people just go without and thinking, well, that’s just the way to go. And it’s really, I don’t think the right thing to do.

Stephanie Diamond: Well, that’s why I like doing business face to face, or at least by Zoom so people can see who they’re talking to and they can understand that I’m you know, there’s a there’s a conversation there. And it’s not just it’s not a it’s it’s it’s not a quick transaction. It really isn’t. And if it is, then you’re not working with the right broker.

Brian Pruett: Right. So that’s a good question. Where are you all licensed? Where can you help people?

Stephanie Diamond: So I am licensed in Georgia, South Carolina, North Carolina, Tennessee, Alabama, Texas, Ohio and Michigan.

Brian Pruett: All right. All right. So a couple of things I’d like to ask you to give us some advice on. So you spent some time in the nonprofit world. If somebody is listening and thinking about starting a nonprofit, what advice would you give them?

Speaker4: Oh, gosh.

Stephanie Diamond: Um. Start spreading the word. I mean, you got to make sure people know that you’re out there. And that’s a really good question. I wasn’t expecting that one. I’m going to have to. I don’t know how to answer that.

Brian Pruett: Well, let’s think about it.

Stephanie Diamond: Make sure you have benefits.

Brian Pruett: There you go. All right. So if somebody is listening and thinking about starting their own business because you’ve done this well, give some advice to starting their own business.

Stephanie Diamond: Again, get yourself out there. You cannot start your own business by sitting behind a desk. You have to put in the hustle. I mean, it is if you’re not if you don’t like the hustle, then maybe starting maybe starting your own business is not the right thing for you. Because it’s not it is not a stationary job. And there’s going to be ups and downs and you’re going to have to stay consistent and. Just I stay consistent that that has been the biggest lesson I’ve learned over the last few years. And I’m consistently in inconsistent. That’s been my my thing. So I’ve had a really, really work on that piece. And the. There. It’s been amazing to see the process work.

Brian Pruett: So the others have some backbone? Yeah.

Stephanie Diamond: Yes. Very thick skin.

Brian Pruett: Yes. Um, all right. So I had another question for you, then I forgot. Oh, is there anything coming up that you know of event wise for either mostly mutts or anything that you’ve got going on that you want to share?

Stephanie Diamond: Yeah, there actually is. There’s a concert happening in Acworth on October the 8th. I think that’s a Sunday. It’s a it’s called shebang. It’s a four different Nashville singers coming together to sing and play some music. And it is going to help support mostly Mutts and two other rescue organizations around. So I highly recommend. And that’s in Acworth. And if you go to my website, w-w-w, Diamond consulting.com, I’ve actually got links to a whole bunch of different stuff. Go to the diamond verse tab and I’ve got links to different things that I’m involved with and mostly Mutts has a tab there as well.

Brian Pruett: All right. Well, I was going to ask you to share your website, but if somebody else wants, is that the best way for people to get Ahold of you if they need your services?

Stephanie Diamond: Yep. They can schedule an appointment through there. They can. All my contact information is there as well. So I encourage you to to visit and let me see how I can help you. I do offer policy reviews. If you want someone just to take a look at your stuff, tell you what you have. I don’t. I’m not again, I’m not here to sell you. I’m here to help. You know what you have. And if you need to purchase something else, I can be that person. But I encourage people to know what they have before going to the doctor. Just that’s a there you go. Another little.

Brian Pruett: Nugget. I wish I could go to that concert, but that’s the day my stepdaughter is getting married, so I guess I need to be at that. So nice.

Stephanie Diamond: Well, hopefully other people. Yeah.

Brian Pruett: Stephanie, thanks for coming and sharing. We’re not done, so don’t leave. I can’t let you leave anyway. So the door’s closed. So. All right, we’re going to move over to Tommy Honrine from Ameris Bank. Tommy, thanks for being here.

Tommy Honrine: Absolutely good to be here.

Brian Pruett: So I got to tell you, first of all, of all my networking days, I’ve I’ve known some commercial bankers, the network, and those are very far in between. But I’ve never known a personal banker to network. And Tommy, that’s where I met Tommy is Acworth connections and networking. And I also feel like Norm every time I walk into his branch because. Brian Absolutely. You know, so that’s, that’s pretty awesome. So we’ll get to, to the more of the bank here in just a second. But you you obviously have a passion for help people not only with their banking needs and stuff like that but you you play a role and being a caretaker as well. That’s right. Would you just mind sharing your background?

Tommy Honrine: Yeah, my background. So I’m a Georgia native, born and raised in Georgia, grew up in the Norcross Peachtree Corners area, went to school at Georgia Southern, and I’ve been in banking for, I guess a little over 20 years now in one form or another. I started out with HSBC Bank and consumer lending, so we did, you know, refinances home equity lines, auto loans, personal loans did that until 2008 when the whole housing crisis hit. And then at that point went to work for Wachovia and at that point got my series 663 Life and Variable Licenses, became a financial specialist with Wachovia that they merged with Wells Fargo. And and then I ended up going to work for a community bank, which was the best decision I ever did at that time. It was Fidelity Bank. Fidelity Bank merged with Ameris Bank in 2019, So I’ve been with Ameris for 11 years. But but yeah, my dad was in mortgage banking, so kind of out of college. My first interview was with HSBC, who he retired from, and I kind of didn’t know what I did, what I wanted to do. I majored in business management and he was like, You know, I can get you an interview. So I just kind of went into banking and never got out. And, you know, like I said, going going to work for a mayor and a community bank was really the best thing I ever did. It’s, you know, I mean, just being able to learn about small businesses, help small businesses. I love.

Brian Pruett: It. Well, so obviously, you have to be a people person when you’re in that industry as well. I mean, like Stephanie, you got to be a people person. So yeah, we talked we I mentioned that you’re a caretaker, so you spent a lot of time also taking care of your girlfriend.

Tommy Honrine: I do, yeah. Yeah. I love my girlfriend, Evan. And I live with her and my my dog Holly and. But yeah, Evan, she perfectly healthy. And then 2019, she was. Well, we didn’t know what it was. It was. They thought it was spinal stenosis. At first it didn’t. Present itself with symptoms of what she ultimately has as metastatic breast cancer with a really rare neurological disorder called Paraneoplastic syndrome. So yeah, we, you know, 2019, it kind of surfaced and, you know, almost started presenting itself in something kind of like Lou Gehrig’s disease, like ALS started dropping things, stuff like that. Went to emergency room a couple times. They’re like, oh, you’re you know, it’s probably just, you know, everything’s I mean, I think they’re just looking for a more immediate, you know, basically got the impression that they couldn’t find anything. And her speech was impacted probably 4 or 5 months after she started having these symptoms. Then they thought it was something called spinal stenosis. Turned out not to be that. And she even ended up having a surgery that apparently she didn’t need. I don’t know. And but ultimately went to Emory and they have a special diagnostic program. And they they basically did every test. It’s almost like the show House, if you’ve ever seen it. They basically, you know, ran every test under the sun and basically found out it was metastatic breast cancer and the the Paraneoplastic syndrome, basically the the cancer cells, I guess, create an antibody that attacks your central nervous system. So it kind of allows her where she can’t walk and doesn’t have good use of her hands and affects her speech and stuff like that. But yeah, you know, it’s when something like that happens, you just dive in and you know someone you love, you just take care of and and that’s what I do. So, yeah, you know, her parents come and take care of her during the day when I’m out at work. But then at night, as soon as I get home, I’m a caretaker.

Brian Pruett: Now, so obviously it’s in the name of your community bank. Yeah. And obviously what you just shared with your girlfriend and everything, but So why is it important for you to be part of the community?

Tommy Honrine: I think, you know, everything is is, you know, the community. You see business owners every day that are trying to grow their business, that are trying to, you know, get their name out there. They look to their bank to help them financially to help their business grow. So I think it’s important to be involved in the community with small businesses to help their businesses grow and being involved in the community in other ways. For instance, in October, in October, November, a marist does a canned food drive every year called Help Fight Hunger. And, you know, every branch participates. So, you know, stuff like that I think is really important to not only be involved in the community, you know, helping small businesses grow, but also to help the community for other needs as well.

Brian Pruett: So as I mentioned, I feel like, Norm, when I walk into your branch. So is that typical for all American banks?

Tommy Honrine: It is. It is. We’ve kind of got a slogan, you know, small enough to know you, but large enough to help you. Meaning that, you know, like the bigger banks, we offer all the same services, whether it’s online wires, you know, positive pay, whatever services you’d find at a larger bank we offer. But we really cherish our our community bank background and want to know our customers get out and see our customers when they come in, know know their name. And that’s that’s, you know, an important factor of our culture.

Brian Pruett: So another thing that I think is cool, as I mentioned, you got network, but you also take the time to actually, if you need to, they want to sign up with you, but they can’t get to your branch. You’ll go to them.

Tommy Honrine: Absolutely.

Brian Pruett: Yeah. So I mean, share about that because you don’t find typically bankers that will do that either.

Tommy Honrine: Absolutely. Yeah. You know, they kind of as a branch manager role at Ameris, it’s kind of a little different than some other banks where, you know, you’re in the branch 100% of the time. They kind of factor in being able to get out. They kind of want you to get out and, you know, network. And also, you know, if, like you said, if someone can’t get to us, get out there, learn about their business and any way we can, you know, help you as a small business, that’s what we want to do. And I love that aspect of it. Just getting out and, you know, whether it’s a factory and touring it and seeing how they, you know, how they do business and but yeah, absolutely we’ll. I’ll go out anywhere to. To meet with you if you can’t come see me.

Brian Pruett: He likes to eat too. So I’m a big eater. So the other thing I think is cool, too, is not many bankers do this either, is you’ll give your personal cell phone. So, you know, when I first started my business and I got my first check and they’re like, well, we’re going to have to hold this because and I’m like, What? You know? And then I was like, And by the time he’s like, Well, just tell him to call me. So we did. And I mean, it took care of it right there. So you don’t find that either. So it’s pretty awesome. Absolutely. You also come and supported and played golf in a golf tournament for fundraisers. So we appreciate that. So absolutely. I’d like to ask this on the banking side. So some of the bigger banks and I don’t know if the other community banks are doing this as well, but some of the bigger banks are getting rid of tellers. Right. It’s becoming almost all virtual or sort of self-serve and stuff like that. Or community banks, I hope are not going to that extreme, are they? No, I.

Tommy Honrine: Don’t think we you know, I think that’s that’s part of our culture is having someone in the bank that that can take care of you. And, you know, I hear I see customers coming over all the time from a lot of credit unions or larger banks where, you know, it’s a it’s a virtual teller or, you know, they don’t have anyone to talk to when they come in the bank. So, yeah, I mean, I don’t see that ever happening with a with a community bank.

Brian Pruett: All right. That’s good because it’s a little scary when it is. It is. I can remember this has been in several years. I mean, we’re talking early, 2000s. I have a buddy of mine that stopped going to a bank and went to the first one that was, I guess, ever online. I’m like, why would you even do that? You can’t see you can’t talk to anybody. You don’t even know if your money’s going.

Tommy Honrine: And if you deposit cash, I mean, it’s easy and and you don’t have anyone to advise you. I mean, I think that’s really important. From from the tellers to personal bankers to managers, you, you know, you have someone in there that can can tell you can advise you and and you don’t have that with with strictly online banking.

Brian Pruett: All right. So for a small business owner and they’re thinking about either not happy with their current bank or they need a bank, what all can you offer a small business for their banking needs?

Tommy Honrine: Well, we have you know, on the personal side, we have a checking account with no no monthly service fee or minimum balance requirement essentially on the business. We we don’t call it a free checking, but it is free. You get up to 200 transactions a month free, which almost all businesses don’t really exceed that. Even if you’re a restaurant and you do, you know, 500 transactions a day, you batch it out in 1 or 2 merchant service batches. So it’s only 1 or 2 transactions. So most businesses you have to or most banks, you have to keep a minimum balance. You have to meet certain criteria to avoid a monthly service fee. We don’t we make it easier for you. Also, like you said, I think just the personalized service, you know, my good clients or, you know, networking or anything, I give my cell phone to where they can reach out to me. Also, you know, all the services that we can offer, a small business that a larger bank does, we have that too positive pay, which is helps to combat fraud, basically allows the business owner to upload a file of checks they’ve written.

Tommy Honrine: And if we see something that comes across that isn’t that check number or that that amount, we reach out to the customer. We don’t pay it or reach out to the customer and they have it on their end where they can decline it. If it’s not on the list. Services like that, online wires makes it easy for the customer. And typically our fees are lower than, you know, than other banks. Lots, lots of of reasons to bank with emphasis on the business side. For attorneys, we actually have, you know, attorneys a lot of attorneys have to have iolta accounts, which is like an escrow account where it kind of holds. It’s really the client’s money. And we actually will can can use those balances to offset fees for attorneys, which most banks don’t do. So we really I think, you know, I think the fee structure, I think the the personalized service, just like you said, being able to go into a bank and talk to somebody and get to know somebody and having them know you, I think that’s really what we offer. Well.

Brian Pruett: And I think even though some of the bigger banks that you could still walk in, but you’re not going to get necessarily the branch manager to talk to you. Right. And you’re mostly always there. Yeah. You know, and your door’s always open unless you got a meeting or something. So that’s that’s incredible, too. You still have your great promotion with your credit card going on. Can you share about that?

Tommy Honrine: Yeah, absolutely. Yeah. It’s we have several different credit card products, but one of the one of the most popular, it’s on the personal or business side so you can do it in your name personally or you can do it in the name of the business. It’s 0% for 15 months. And that’s on not just balance transfers, but purchases. So we see a lot of customers that they have a home improvement coming up or they need to buy a new AC unit or, you know, or, you know, want to put in a sprinkler system or whatever the case may be 0% for 15 months on purchases. And you see that sometimes on balance transfers but not purchases.

Brian Pruett: So and that’s been huge for a small business for me as well because I had to get some stuff and I’ve been able to do that. So it helps on the cash flow too.

Tommy Honrine: Absolutely. Yep, sure.

Brian Pruett: Does. So let’s talk about the networking piece, too, because obviously, like you said, we met at networking. You go to networking, what positive? Testimony. Can you share about networking?

Tommy Honrine: I know. I know the group that we’re in, Acworth Connections. I love it. I mean, you know, that’s an open networking group and it kind of goes back to what you said, Stephanie. Like, I’ve been in closed in networking groups and I like them like master networks and stuff like that. And you’re right, know, I guess I’ve been in banking well for I’ve been in retail banking as far as a branch manager for about 11 years. And when you first start networking, you’re right, you’re handing your card out to everybody and trying to sell everything, you know. And I think it’s really, you know, the testimony I would have to our networking group is just building relationships, being there, I think every week, meeting. Meeting, you know, new people, growing the relationships you have with existing business owners or anybody that’s there. And that’s been huge for me. I think, you know, I know when I need a product or service first, you know, first thing I look to is people in my networking group to do that. And I think they do that with me. And I think, you know, it builds a trust. And I’ve gotten so many contacts that have gotten, you know, have grown to trust me and really, you know, trust sending their clients or referrals over to me. So that’s been huge.

Brian Pruett: The other thing I’ll say, too, is you also will let somebody know if if certain product or service isn’t best for them because, you know, some some of the people go into and talk to even at a bank, be like, you know, you need all this and then all the carriers that you’re there and the money’s there. But you you actually take the time to to talk to them and make sure that you’ve got the right thing.

Tommy Honrine: Absolutely. Absolutely. Yeah.

Brian Pruett: So, um, can you maybe give some advice, maybe personal and business wise, on banking of what things do you need to look for? You mentioned some things already, but like even, you know, fraud or whatever, what are some things that somebody can needs to look for in a personal and business side that can give some, I don’t know, either peace of mind or just some advice on somebody on the banking side.

Tommy Honrine: Just like as it pertains to fraud or.

Brian Pruett: Or, well, anything. So I mean, what’s something that they need to let’s go let’s do the fraud thing first. But then maybe if you could say something about, you know, about a particular service. I’m sure everybody’s different on the services and what they need, but this is something that they might, for instance, like on insurance, you know, every not everybody needs I don’t know what’s something that not everybody needs on a health insurance side, but prescription prescription coverage. There you go. But something on a bank side that, you know, just kind of give somebody of I don’t know where to begin type of thing.

Tommy Honrine: Okay. I would say, you know, on the fraud piece, I think establishing well, they kind of believe it or not, kind of goes in hand. Establishing credit is huge, I think, on the banking side. So I think at an early age, one of my clients just came in and I’ve known him for a long time and he brought his 18 year old grandson in to establish a credit card. And that’s huge for a couple of different reasons. It’s going to help you throughout. You know, when you buy a mortgage, they pull credit for everything, insurance, if you get a cell phone, anything. So I think establishing credit is huge and that’s something we can help you do. You know we have a college card where it’s, you know, most of the time they they start you out with a credit line small so that you can help to establish credit on a college credit card. Also, we have a secured card where it basically you put your money down to establish credit and you know basically you can do anywhere from like 300 to $5000. Just say you did 300. It would pull that from your account issue you a credit card with for $300 credit limit. And you’re basically using your own money to establish credit. But tying that in into fraud, for example, the biggest fraud, you know, cases of fraud that we see are debit card fraud.

Tommy Honrine: You know, someone gets your debit card number either through a skimmer that’s placed on an ATM somewhere or a server at a restaurant, gets your credit card information or not. To say that, you know, obviously the majority of people are not like that. But we see cases like that all the time. So, you know, you you have fraud on your debit card. You come into the bank. What we’re going to do is freeze the debit card issue, a new one. We’ll file a dispute and you’ll get your money back. Sometimes it’s three, seven, ten days before you get your money back. What I would recommend is using a credit card for anything and paying it off. Every month you do that, you don’t pay any interest, even if you don’t do like the 0% for 15 months. Find a good. Rewards credit card that pays rewards that you can use for cash back or, you know. Restaurant gift cards or whatever. But doing that if if someone if your credit card becomes compromised, your cash flow is not not affected. So, you know, with a debit card, if someone has 150 bucks in their account and someone got their debit card and there’s, you know, ten charges that brought them down to $1, they don’t have any money for 3 to 10 days until that money’s from the dispute is put back in their account if they use a credit card.

Tommy Honrine: And just it requires discipline just to pay it off every month. But if they do that and the credit card is compromised, the credit card company or, you know, the credit card division is going to dispute that just like we would. But you’re not out the money in your checking account, if that makes sense. So I think that’s that’s a big thing. And we see a lot of fraud now with checks, written checks stolen out of the mail and that, you know, when that happens, it’s a little bit more difficult than a debit card because you have to close the account down, open a new account, order new checks. So I reckon in today’s day and age, if you’re a business, I recommend to do positive pay or limit the amount of checks that you’re writing and sending in the mail. Anything you can do, like if you’re paying vendors, you know, anything you can do. Ach pay with a credit card. I would recommend that just to expose less exposure to your account number.

Brian Pruett: Can you explain positive pay? Yeah.

Tommy Honrine: So positive pay. The business owner or office manager will basically upload so it’s through the business online banking and they’ll upload a file every day and there’s a cut off time of checks they’ve written. And so when they the next day and also the bank if a if the teller is presented with a check say it’s check number 501. And that’s not on their list. The teller won’t won’t cash the check. So also the business owner can see from their end know what checks were presented and not, you know, not not pay those have us not pay those checks. So it really protects your account, especially if you’re a business that’s writing checks and you really you don’t have any other options to pay other than, you know, there’s really no options for ACH or credit cards. And you’re writing a lot of checks. It’s positive pay is roughly about 100 bucks a month. But for a business that that writes a lot of checks, it’s well worth it for sure.

Brian Pruett: So I’m sure it’s probably this day the way everything’s moving forward, that direct deposits probably almost everywhere now. But is that is that something you would recommend to having as well?

Tommy Honrine: Absolutely. Yeah. Direct deposit. I mean, it’s you know, you’re more likely if a company offers that and they they write you a check, you know, maybe they issue their checks on Friday and you got to go to the bank a lot of times the direct deposits available earlier. So yeah, I would definitely recommend direct deposit.

Brian Pruett: So so there’s a couple of things I wanted to just mention there and ask a question about. So I’m, I’m kind of old school, but I always thought it was weird that to build credit up, you had to get credit cards and go in debt, right? And then, you know, so at one point in time, I had all my credit cards paid off and my credit card dropped because I was out of debt. Um, can you just talk about why it’s, I mean, other than you mentioned for mortgage and stuff like that, somebody who’s thinking about it and doesn’t understand why is that important to continue?

Tommy Honrine: I think that, like I said, you really, you know, it requires a discipline to I think it’s, you know, the credit reporting agencies, TransUnion, Experian, Equifax, they have certain criteria they’re looking for and there’s certain things that will damage your credit. And some of those things are if you’re over 50% utilization. So if you have a total of all your credit line credit card balances is, say, $10,000 and you’re over the $5,000 mark, that kind of starts to bring down your score. Then if you’re over the 75%, the more the higher you go on the credit line utilization, it’s going to kind of bring down your score. So you want to ideally the best thing for your credit is if you have a credit card and just, you know, basically, you know, discipline yourself to to sort of correspond it with your checking account to where you’re. You’re not spending more than you have. If you can help it and just pay it off every month. So definitely wouldn’t recommend going into debt. But, you know, but to build your credit, just use it and pay it off. Some other things that can negatively impact your credit score is if you close accounts. So if you if you keep them open, you know, don’t have the urge to to use them. And you know, because I have that available, I’m going to go buy a new TV or or whatever. But but to really budget and just pay it off every month. That way you’re paying zero interest to the bank. You’re, you know, you’re you’re building your credit and, and and that’s how you get a good credit score.

Brian Pruett: I’m also in school. The fact that I don’t like and don’t have the Venmo and PayPal and Zelle and all that stuff. What are the advantages? And maybe one of the disadvantages of having those attached to your accounts?

Tommy Honrine: We don’t see we do see sometimes fraud with with those applications. A lot of times it’s people, you know, convince someone to give them their online banking credentials, which you should never do to anybody. But, you know, the bank goes through Zelle. So we you know, but but it’s you know, I mean, I don’t I don’t think there’s I mean, I guess I wouldn’t say I recommend it or not recommend it. I mean, I think it’s it’s something in the digital age where everybody’s going, you know, paying through Venmo or Zelle or Cash app. But I just say be careful and, you know, you know of scams and don’t give your online banking credentials to anybody.

Brian Pruett: So working at a bank and I’m sure this is just an opinion question or an answer for you. Do you see because I think we’re going this direction, but I hope we don’t get there. Ultimately, do you think we’re going cashless?

Tommy Honrine: I don’t think so. I mean, I think there are certain businesses that we still have businesses where cash is brought in every day. Gas stations. And, you know, I mean, just a ton of businesses where we still receive cash every day. So, I mean, you know, I can’t say that, you know, 50 years from now, 100 years from now, it’s not a possibility. But I don’t see it happening any time soon.

Brian Pruett: Awesome. Um, all right. So we’re all are American banks located?

Tommy Honrine: So we are on the retail banking side and we have around 170 branches or so. We’re in Georgia, Florida, Alabama and South Carolina, primarily in Georgia and Florida. We when they merged with Fidelity Bank, Fidelity was in Georgia and Florida and headquartered out of Buckhead, and they moved their headquarters from Jacksonville to Buckhead once we merged. But we’re all over the Atlanta area. Here in this area, we have two branches in Cartersville. We have a branch in Woodstock. My branch here in Acworth, Marietta has I think, 7 or 8 branches Bell’s Ferry, Barrett Parkway, Canton Road, old Piedmont area, East Cobb on Johnson’s Ferry. So we’re in Powers Ferry, Marietta Square. So we’re very strong presence in Cobb and and Bartow and and of course, Fulton and even south of Atlanta. We’re we’re all over.

Brian Pruett: So if somebody is traveling and they need to get cash out, how difficult is it if they’re not somewhere where you guys aren’t located to use and get an ATM? There’s a lot of fees for that.

Tommy Honrine: You know, with yeah, they could use any our debit card with any other banks ATM and you know there is fees associated with that. Usually the the bank the other bank is going to charge you, you know anywhere from $2 to $4 probably and then a Marisol charge you I think I think our fee is like $3. But we do have an account with depending on your relationship with us where if you have over 25,000 total and that could be loan balances combined with deposit balances. So if you had a HELOC with over 25,000, we have an account called an Advantage account and and that will not charge you fees on the American side and it will also pay the other bank’s fees. So if you go to a Wells Fargo, Wells Fargo charged you $4, it won’t cost you anything to access your account anywhere.

Brian Pruett: All right. So if somebody’s listening and wants to maybe visit a bank or even talk to you, how can people, first of all, find the bank and then how can people get Ahold of you?

Tommy Honrine: So, you know, just come in and see. My branch is located on 41 Cobb Parkway. It’s across from the new Racetrac gas station in Acworth, just south of Cedarcrest Road. So just come in, see me, see my staff. My email is a good way to get Ahold of me. It’s Tommy Horn. Ryan. That’s t o m m y dot h o n r. I n e at Ameris bank.com. And you know or call the branch 678905 2600. But yeah either one of those options you know come see us check us out and you know love to help you know businesses grow or or on the personal side you.

Brian Pruett: Mentioned already the things you do with the the canned, the foods and stuff like that. Is there anything else got you got coming up that you want to share you guys are doing.

Tommy Honrine: That’s that’s all I can think of in October we’ve got that the canned food drive and we also you don’t have to just you know you could bring cans to any branch. But also if your business wants to wants to, you know, participate, I’ll bring a box out to your business so that you and then at the end of the canned food drive come and pick it up. Awesome. So so that’s that’s the only thing that comes to mind that we have coming up.

Brian Pruett: You had something a long time ago where you gave people free hot dogs, anything like that.

Tommy Honrine: Yeah, yeah. We from time to time we do that, we’ll do either like a customer appreciation kind of thing and just, you know, grill some hot dogs and let’s me that’s one of my, you know, hobbies is grilling and smoking meats and stuff. So it kind of lets me do that too. Sometimes we’ll have like a, you know, we also provide merchant services, credit card processing. We partner with a company with Fiserv and they sell the I guess the biggest products they sell are clover machines, if you’ve ever seen those. So we’ll have like a clover demo day. Sometimes we don’t have one coming up. I probably should schedule one in the next few months where business owners can come in and, you know, look at the different whether it’s the clover go or, you know, different systems. And when we do that, we grill out hot dogs and stuff like that. So we’re overdue for that. I need to I need to.

Brian Pruett: I’d like a good hot dog so it soon. Absolutely. All right, Tommy, thanks for sharing a little bit of your story and what you guys do. So what I like to do before we wrap this up, I’ve got one other thing I’d like to ask both of you. I’d like to end this on you guys, sharing a positive quote, word or nugget for somebody listening that today and the rest of 2023 and beyond with. So, Stephanie, what you got?

Speaker4: Oh, man. All right.

Stephanie Diamond: You can’t make everyone happy. You’re not a taco.

Brian Pruett: Nice. That’s awesome. There you go. All right, Tommy.

Tommy Honrine: Man, you know, I can’t think of any other than, you know, I never give up. I think that’s, you know, with everything you mentioned, you know, everything going on with my girlfriend. And whether it’s that or whether it’s, you know, new business that you’re trying to, you know, to help or whatever, I’d say never give up.

Brian Pruett: The other thing I like to do is to thank you is a lost art these days. So, Stephanie, thank you for what you’re doing for the people and trying to assure them and get them the right coverage on their insurance and also everything you do for the non non profit world. And Tommy, thanks for what you do for the community as well as the business owners. Everybody out there listening. Let’s remember, let’s be positive. Let’s be charitable.

 

Tagged With: Ameris Bank, Diamond Chick Consulting

BRX Pro Tip: 3 Primary Drivers of Results in Life

September 26, 2023 by angishields

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BRX Pro Tip: 3 Primary Drivers of Results in Life
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BRX Pro Tip: 3 Primary Drivers of Results in Life

Stone Payton: [00:00:00] Welcome back to Business RadioX Pro Tips. Lee Kantor and Stone Payton here with you. Lee, let’s chat a little bit about the key drivers, the three primary drivers of results in life.

Lee Kantor: [00:00:15] Yeah. This is something that I got from James Clear. He wrote the book Atomic Habits. I think that this is one of the most important books you can read. I highly recommend this book, Atomic Habits by James Clear.

Lee Kantor: [00:00:27] He says that the three primary drivers of results in life are, number one, luck. Just pure, the randomness of luck, and just kind of the whims of the universe. Number two, your strategy. Your choices that you make. Number three are your actions. What are the habits that you’re doing over and over again? Only two of these things are under your control, your strategy and your actions. But if you master those two, then you’re going to improve the odds that luck is going to work for you rather than against you.

Lee Kantor: [00:01:10] So, spend time thinking about your strategy and choices. And remember that when you make the same mistake twice, that is not a mistake anymore. That’s not randomness. That’s a choice. So, that’s a decision you’ve made. If you’re making the same mistakes over and over again, this is not just bad luck. That is a choice you’re making. So, remember, be mindful on your strategy and your choices. Be mindful about the actions and processes and habits you have. And then, like magic, your luck’s going to get better.

The Rome Floyd Chamber Show – Molly Majestic with the City of Rome (Community Development Block Grant Coordinator)

September 25, 2023 by angishields

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Rome Business Radio
The Rome Floyd Chamber Show - Molly Majestic with the City of Rome (Community Development Block Grant Coordinator)
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Tagged With: Broad Street, CDBG, City of Rome, Community Development Block Grants, Hardy on Broad, Hardy Realty, Hardy Realty Studio, Karley Parker, Molly Majestic, Rome Floyd Chamber, Rome Floyd Chamber of Commerce, Rome Floyd County Business

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