“We will never go back to where we were.”

Quint Studer is no stranger to the worlds of business, leadership and community. With his involvement in businesses of varying industries (including a minor league baseball team, a nonprofit organization, a coffee shop, office space, retail operation—to name a few), Quint not only strives to keep an eye on opportunity for his ventures, but for the community of Pensacola as a whole.

What can business leaders take away from his experience navigating the impact COVID-19 has had on his businesses, as well as his personal leadership style?

In this episode of The Wrap, Quint continues the conversation with our hosts for part two of two to delve further into the importance of collaboration, the value in supporting employees, and the impact that an eye for opportunity can create.

Helpful resources from this episode’s discussion:

• The Busy Leader’s Handbook
• Fort Walton Beach Quality of Life Survey
• Why We Should Say “I Don’t Know” More Often

“We’ve got to up our game, no matter what business we’re in.”

Quint Studer is a lifelong businessman, entrepreneur, student of leadership and a prominent presence in the business arena and community of Pensacola, Florida.

He’s the founder of the Studer Group (a healthcare consulting company, ultimately sold in 2015), the founder of the Studer Community Institute (a not-for-profit organization), an author of multiple books, a co-owner of a Minor League Baseball team, orator at George Washington University and Cornell, and the wearer of many more hats in addition to the few listed here.

With so many irons in the fire, how does a figure like Quint, and his many ventures, respond to a global pandemic that has threatened the continuity of organizations everywhere?

In this episode of The Wrap, Quint joins our hosts for part one of two conversations to describe his involvement, his organizations’ missions and operations and the ways they have pivoted to find creative solutions that not only benefit the organizations and their respective employees, but how they’ve impacted the community of Pensacola.

Helpful resources from this episode’s discussion:

• Brain Bags
• Airbnb at the Wahoo Stadium
• Golf at the Wahoo Stadium
• EntreCon – business and leadership conference
• The Spring Entrepreneur Asset Map
• CivicCon – Cedric Alexandre
• Downtime Assessment Audit
• Building a Vibrant Community

Babypalooza got its start as a magazine that founder Cecilia Pearson managed as a creative outlet. Fast forward to 2020, Babypalooza is a growing company and community platform that thrives through large in-person events, now faced with navigating a global pandemic.

In this episode of The Wrap, our hosts welcome Cecilia to talk about how her company grew from a hobby to a business to an organization that’s withstanding the challenges of COVID-19. Drew Honeycutt, the CEO of Innovation Depot—an incubation center for Cecilia and other entrepreneurs like her who are looking to accelerate company growth—and Warren Averett’s own business advisor Hanny Akl, also weigh in on how Babypalooza’s experience reflects that of other companies who are seeking to adapt in today’s environment.

“Be creative. Be flexible and nimble. Be strategic, and be steadfast. Stakeholders in your business—whether it’s investors, employees, customers or vendors—are going to expect that from you and need that from you.  And, it’s easy to say, very hard to do.”

“It has been breathtaking to see how, overnight, the scale of our activity has just shifted totally.”

While most businesses have been forced to adapt at a blistering pace, when you’re a nonprofit organization that distributes meals to assist those suffering from hunger and food insecurity, a global pandemic brings an especially unique set of challenges.

Kyle Waide, President and CEO of the Atlanta Community Food Bank, tells the story of how this nonprofit adapted while continuing to advance its mission amid a pandemic in this episode of The Wrap.

Waide joins our podcast hosts, along with Warren Averett Member and nonprofit advisor Megan Randolph, CPA, to discuss what nonprofits everywhere can glean from the story of how the Atlanta Community Food Bank has navigated (and continues to navigate) the unfamiliar territory of COVID-19, its impact on nonprofit funding, food supply, service need, volunteer efforts and more.

“A pandemic was not on my radar.”

Most of us would probably agree with Faris Malki, the owner and operator of a bicycle repair and service shop in Birmingham, Alabama called Cahaba Cycles.

The reality is that, even though very few of us—if any—would have predicted the COVID-19 outbreak this time last year, many businesses have made sharp and fast changes to adapt to the rapidly evolving business environment we’ve seen so far in 2020.

For Cahaba Cycles, that meant discerning whether or not the company was “essential,” facing a massive influx of business, pivoting to offer curbside service, navigating complicated supply chain factors and more.

In this episode of The Wrap, Malki and Warren Averett Asset Management’s own Josh Reidinger join our podcast hosts to share how Cahaba Cycles responded to and adapted in light of the COVID-19 pandemic, how their story compares to that of the larger retail industry, and how other businesses can learn from their experiences.

COVID-19 has created many questions for investors, retirement plan sponsors and anyone looking to maintain financial stability. What does COVID-19 mean for long-term and immediate financial success for individuals? What does it mean for business owners who are charged with guiding their organizations as a trusted employer? How can you best move forward with financial planning when the future is so uncertain?

In this special edition episode of The Wrap, Joseph McNair, CFP®, JD, CPA and Jonathan Osborne, QKA join our hosts to discuss which financial planning and retirement plan considerations should be top of mind for businesses and individuals to create financial stability in this turbulent season.

Discussion within this podcast episode includes:

• Responding to volatility in the economy
• How COVID-19 and related legislation impacts retirement plan sponsors
• Precautions employers should take when it comes to retirement plan provisions in recent legislation
• Steps employers and individuals can take to position themselves for financial success

This episode reflects our views at the time this podcast episode was released and should be used as reference only. We recommend that you talk to your Warren Averett advisor, or another business advisor, for the most current information or for guidance specific to your organization.

As many companies begin to receive funding as part of the Paycheck Protection Program, businesses are turning their attention from navigating the application process to allocating their own use of the funds and understanding loan forgiveness.

In this episode of The Wrap, Adam West, CPA and David Crabtree, CPA join our hosts to discuss what companies can do to gain an accurate understanding of the provisions in the PPP and the steps to take to maximize their loan forgiveness.

Discussion in this podcast episode includes:

• Which expenses are eligible for loan forgiveness and which aren’t
• Tips for keeping records so that you have the right documentation for loan forgiveness
• Guidance for financial statements and what loan forgiveness means for you company’s taxes
• How loan forgiveness will be calculated

Click here to read more about Accounting for PPP Loan Activity

This episode reflects our views at the time this podcast episode was released and should be used as reference only. We recommend that you talk to your Warren Averett advisor, or another business advisor, for the most current information or for guidance specific to your organization.

Companies are facing a wide array of challenges in the COVID-19 pandemic, especially when it comes to employee matters. Some are considering reducing their workforces, while others are striving to increase them.

In this special edition episode of The Wrap, David Salters, CSP, TSC, Director of Sales and Operations for Warren Averett Staffing & Recruiting, and Kelly Cochran, Warren Averett’s Director of Human Resources, join our hosts to discuss how companies can best make decisions impacting their team members and the most important things to consider when it comes to their employees.

This podcast episode includes discussion about:

• Options for employers to minimize the impact of reducing pay or schedules
• Tips for communicating difficult news about furloughs or layoffs to your employees
• Considerations for employers seeking to maintain benefits for employees who aren’t working or who are working on a reduced schedule
• Things to keep in mind when you company begins to re-recruit and rehire after furloughs or layoffs
• Considerations for companies looking to retain and reward essential employees during the COVID-19 pandemic

This episode reflects our views at the time this podcast episode was released and should be used as reference only. We recommend that you talk to your Warren Averett advisor, or another business advisor, for the most current information or for guidance specific to your organization.

In this special edition episode of The Wrap, Hanny Akl CPA, CFE, CEPA, CVGA, a Member of Warren Averett and the Firm’s Transaction Advisory Services Practice Leader, and Roger Spain, CPA, CFA, a Principal in Warren Averett’s Outsourced CFO practice, re-join our hosts to discuss how businesses can contain costs in this financially stressful season. Our guests bring actionable ideas and advice for reducing spending and discuss important considerations for businesses looking to cut costs.

This podcast episode features discussion about:

• How companies should approach cost containment during the COVID-19 pandemic
• Considerations for slowing your business’s cash burn rate
• How to best evaluate where your business can cut costs
• Considerations for reducing spending, including reducing labor costs
• Adapting your approach to your revenue stream

Click here to download Rolling Cash Flow Calculator and Waste Audit Worksheet as additional helpful tools when reviewing cost containment

This episode reflects our views at the time this podcast episode was released and should be used as reference only. We recommend that you talk to your Warren Averett advisor, or another business advisor, for the most current information or for guidance specific to your organization.