Bill McDermott Archives - Business RadioX ®

Vickey Evans, CORG Management Group, and Victor Salmeron, Hi Tech Utility Construction

January 13, 2025 by John Ray

North Fulton Studio

Vickey Evans, CORG Management Group, and Victor Salmeron, Hi Tech Utility Construction

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Vickey Evans, CORG Management Group, and Victor Salmeron, Hi Tech Utility Construction (ProfitSense with Bill McDermott, Episode 65)

In this episode of ProfitSense, hosted by Bill McDermott, two esteemed guests share their entrepreneurial journeys and valuable insights. Vickey Evans of CORG Management Group delves into her transition from a corporate network engineer to a successful real estate broker and entrepreneur, highlighting challenges like capital access and work-life balance. Victor Salmeron, founder and president of Hi Tech Utility Construction, recounts his inspiring story from humble beginnings in El Salvador to leading a thriving telecommunications company in the U.S. Both guests emphasize the importance of discipline, consistency, mentorship, and strategic focus in overcoming business obstacles and achieving growth.

Bill concludes the episode with a personal reflection from the host about financial clarity and strategic planning for sustained business success.

ProfitSense with Bill McDermott is sponsored and presented by Bill McDermott, The Profitability Coach, and the show is produced by John Ray and the North Fulton affiliate of Business RadioX® in Alpharetta.

Vickey Evans, CORG Management Group

Ms. Vickey Evans is a natural leader with over twenty years of progressive experience in developing, managing, and enhancing programs. Her career started in the telecommunications industry, where she held positions to include network engineer and project manager and later advanced to administrative and facilities management. Under her leadership, CORG Management Group LLC has expanded its services to include base operations support, construction management, and logistics support. Her vision and passion for growing the company have expanded services throughout the southeast region as well as internationally. Ms. Evans obtained her undergraduate Bachelor’s degree in Business Operations from DeVry Institute of Technology and her Master’s degree in Business Administration with a concentration in Contracts from Kennesaw State University, and obtained her Construction Business Management Institute (CBMI) Certification Certificate in Atlanta, GA.

While Ms. Evans’s academic training and professional background have allowed her to develop strong organization and performance skills, she believes that passion, purpose, and preparation are the cornerstones to her success. Ms. Evans is well respected by her peers and has developed invaluable working relationships with other professionals in the industry. As a member of the National Association of Black Women in Construction (NABWIC), the National Contract Management Association (NCMA), the Society of American Military Engineers (SAME), and a graduate of the Goldman Sachs 10k Small Business Certificate of Entrepreneurs Program, Ms. Evans strives to be an effective industry leader. Trust and integrity built upon a firm commitment to service have set a solid foundation for her career. She understands that each individual customer has specific needs.

CORG Management Group is comprised of seasoned, diverse professionals to include military, government and commercial backgrounds. Together we have the ability to manage multiple projects and adapt to constant changes in market conditions. Whether we are providing services to commercial clients or the federal government, our vision is to deliver turn-key solutions that exceed the expectations of our clients. We provide quality services, measurable results, and competitive pricing that allows our clients the capacity to meet their goals and objectives that are critical to accomplishing a successful project.

Website | LinkedIn | Facebook | Vickey’s LinkedIn

Victor Salmeron, Hi Tech Utility Construction

Victor Salmeron, the founder and President of Hi Tech Utility Construction, exemplifies visionary leadership in his role. Mr. Salmeron’s approach to leadership transcends traditional executive responsibilities, focusing on driving organizational excellence and fostering personal growth among employees. He views his position as a platform to catalyze individual development and community enhancement.

Under his strategic guidance, Hi Tech Utility Construction prioritizes employee empowerment and success as key drivers of business growth. Mr. Salmeron’s leadership style is rooted in a strong ethical framework, combining professional acumen with personal values to create a positive and productive work environment that supports both corporate objectives and individual potential.

Hi Tech Utility Construction, Inc. is a turn-key utility construction company based in Monroe, Georgia. The company offers full-service construction and consultation services. These services include directional drilling, fiber pulling and blowing, private locating services, job surveys, traffic management services, inside plant construction and maintenance, and large project management services.

They are an experienced contractor working in the Atlanta, Georgia, market with several high-profile projects on their resume. Hi Tech is a quality-driven company with a customer-first attitude. They consistently exceed their customers’ expectations with their experience in the underground construction industry, specifically in the Atlanta market.

The company is growing into other areas cautiously as they plan to maintain their high quality and safety standards.

Website | LinkedIn | Victor’s LinkedIn

Topics Discussed in this Episode

00:00 Introduction to ProfitSense
01:11 Guest Interview: Vickey Evans’ Entrepreneurial Journey
03:37 Challenges and Successes in Entrepreneurship
05:42 Balancing Long-Term Vision and Daily Operations
06:45 Mentorship and Networking Insights
08:38 Common Misconceptions About Entrepreneurship
10:24 Advice for Aspiring Entrepreneurs
12:40 Guest Interview: Victor Salmeron’s Inspirational Story
17:31 Overcoming Challenges and Building Success
22:56 Hi Tech Utility Construction’s Unique Approach
25:34 Advice for New Business Owners
29:34 Conclusion and Financial Clarity Tips

About ProfitSense and Your Host, Bill McDermott

ProfitSense with Bill McDermott dives into the stories behind some of Atlanta’s successful businesses and business owners and the professionals that advise them. This show helps local business leaders get the word out about the important work they’re doing to serve their market, their community, and their profession.

Follow this link to find the show archive.

The show is presented by The Profitability Coach. The Profitability Coach helps business owners improve cash flow and profitability, find financing, break through barriers to expansion, and financially prepare to exit their business.

Bill McDermott is the Founder and CEO of The Profitability Coach. When business owners want to increase their profitability, they don’t have the expertise to know where to start or what to do. Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability they never thought possible.

Bill currently serves as Treasurer for the Atlanta Executive Forum and has held previous positions as a board member for the Kennesaw State University Entrepreneurship Center, Gwinnett Habitat for Humanity, and Treasurer for CEO NetWeavers. Bill is a graduate of Wake Forest University, and he and his wife, Martha, have called Atlanta home for over 40 years. Outside of work, Bill enjoys golf, traveling, and gardening.

Connect with Bill on LinkedIn and Instagram and follow The Profitability Coach on LinkedIn.

Unlock Hidden Profits, with Bill McDermott, Host of ProfitSense

January 10, 2025 by John Ray

Unlock Hidden Profits, with Bill McDermott, The Profitability Coach

North Fulton Studio

Unlock Hidden Profits, with Bill McDermott, Host of ProfitSense

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Unlock Hidden Profits, with Bill McDermott, Host of ProfitSense

In a commentary from a recent episode of ProfitSense, Bill McDermott, The Profitability Coach, discusses several ways to unlock hidden profits in your business.

Bill’s commentary was taken from this episode of ProfitSense.

ProfitSense with Bill McDermott is produced by John Ray and the North Fulton affiliate of Business RadioX® in Alpharetta.

Transcript

I want to take a moment today to share some simple strategies to unlock hidden profit in your business. Where do you start? Remember, profit isn’t just a result; it’s a choice. Achieving financial success doesn’t require an overhaul, just targeted strategies to make your business more resilient and profitable.

First, streamline your operations. Look for inefficiencies in your processes, like outdated scheduling or equipment downtime, and fix them to save time and money. Second, identify overlooked expenses. Could you negotiate better rates for raw materials or supplies? Good enough prices aren’t set in stone.

Third, realign your pricing strategy. Are you charging what you’re worth? Make sure your prices reflect the true value you bring to your customers. Finally, empower your team. Invite employees to suggest cost-saving or efficiency ideas, and reward those that work. Engaged employees can transform your business’s profitability.

Every business has hidden profit potential waiting to be discovered. With the right guidance and strategic adjustments, you can unlock that potential and achieve lasting success. If you’re ready to take your business to the next level, let’s talk.

About ProfitSense and Your Host, Bill McDermott

Follow this link to find the show archive.

Connect with Bill on LinkedIn and Instagram and follow The Profitability Coach on LinkedIn.

Being Charitable and Profitable at the Same Time, with Jason Etheridge, Logic Speak

December 9, 2024 by John Ray

Being Both Charitable and Profitable at the Same Time, with Jason Etheridge, Logic Speak, as heard on ProfitSense with host Bill McDermott

North Fulton Studio

Being Charitable and Profitable at the Same Time, with Jason Etheridge, Logic Speak

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Being Charitable and Profitable at the Same Time, with Jason Etheridge, Logic Speak (One Minute Interview, Episode 129)

Jason Etheridge: I do think it’s possible to be both charitable and profitable.

But you have to decide that first. You can’t be profitable first and then decide to be charitable. Because we all know the more we get, the more we feel like we have to hold on to it. Being charitable for us is like opening our hands and recognizing that not everything we have is for our use and for our benefit.

And that was one of the reasons that we added to the community in our mission statement is that we wanted to recognize that we always are out for. Helping and serving other people including our community so in order to be profitable and charitable, you have to decide first you have to put the big rock in first Secondly, you have to recognize that maybe you don’t want that Ferrari that you thought you wanted when you were young You can still be profitable and healthy and give back as well.

At the end of my days, when I’m up at the front of a church in a casket, I don’t know that the cars that I drove or the really nice things that I have are going to be what I’m remembered for, or at least I hope not. It should be, what I did and how I impacted other people.

Those are some of the ways that, that we think about being charitable and profitable.

Listen to Jason’s full ProfitSense with Bill McDermott interview here.

Jason Etheridge, Logic Speak

Jason Etheridge is the Founder and President of Logic Speak

Logic Speak works with local Atlanta businesses to provide proactive technology strategy, support and security. Since 2004, Logic Speak has focused on making a positive impact on organizations to leverage technology better.

IT Strategy: A well-defined technology strategy is essential for aligning IT initiatives with business goals. It involves identifying the right technologies that can drive innovation, enhance productivity, and improve operational efficiency. By developing a clear roadmap, you can ensure that your technology investments are strategic and yield long-term benefits.

Support: Effective technology support is crucial for maintaining a productive workforce. It involves providing timely assistance and troubleshooting for IT-related issues. This can range from software and hardware support to network and infrastructure management. By ensuring that employees have access to reliable support services, you can minimize downtime and maximize productivity.

Security: Security is paramount in today’s digital world, especially with the rise of cyber threats. A strong security strategy involves implementing measures to protect sensitive data and systems from unauthorized access, breaches, and other security risks. This includes deploying firewalls, encryption, multi-factor authentication, and regular security audits.

Find out more at www.logicspeak.com or send an email to hello@logicspeak.com

Website | LinkedIn | Jason’s LinkedIn | Instagram | Facebook

The “One Minute Interview” series is produced by John Ray and the North Fulton studio of Business RadioX® in Alpharetta. You can find the full archive of shows by following this link.

Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has grown to become one of the Southeast’s strongest financial institutions, with over $13 billion in assets and more than 190 banking, lending, wealth management, and financial services offices in Mississippi, Alabama, Tennessee, Georgia, and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.

Yuquan Holloway, Holloway Consulting Group, and Lee Heisman, Exit Stage Left Advisors

December 3, 2024 by John Ray

North Fulton Studio

Yuquan Holloway, Holloway Consulting Group, and Lee Heisman, Exit Stage Left Advisors

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Yuquan Holloway, Holloway Consulting Group, and Lee Heisman, Exit Stage Left Advisors (ProfitSense with Bill McDermott, Episode 64)

In this episode of ProfitSense, host Bill McDermott interviews Yuquan Holloway from Holloway Consulting Group and Lee Heisman from Exit Stage Left Advisors. Yuquan shares her journey from corporate America to becoming an “accidental entrepreneur,” providing insights into how she helps large corporations solve complex challenges through project management and training. Lee discusses his path from physical therapy to entrepreneurship and the importance of professional guidance in business sales. Both guests emphasize the significance of pipeline maintenance and adaptability in entrepreneurship.

Bill concludes the show with ideas on strategies to unlock hidden profit in businesses.

This episode offers valuable lessons for business owners looking to thrive and optimize their operations.

Yuquan Holloway, Holloway Consulting Group

Yuquan Holloway is a leader in the fields of business and IT. She is the Principal Consultant of Holloway Consulting Group, a consulting practice that focuses on helping corporate teams deliver IT and transformation projects, resolve systemic process issues, and train and coach associates on project management and Lean Six Sigma principles.

Yuquan graduated from Georgia Institute of Technology with a Bachelor of Civil Engineering and holds an MBA from Georgia State University. With over 20 years of experience in leading large cross-functional initiatives, Yuquan has a track record of driving successful change.

Through her work, she strives to demystify project management, create a culture of standard work and repeatable processes, stabilize and simplify core applications, and reduce critical incidents.

Holloway Consulting Group

Corporate technology teams are Holloway Consulting’s specialty; they assist clients in goal-setting, plan-making, and problem-solving.

With well over 20 years of experience leading projects and programs for Fortune 100 organizations, they are passionate about helping businesses achieve their strategic goals.

Their team of experts leverages proven methodologies like Lean Six Sigma and Business Process Re-engineering to assess challenges and provide sound solutions and improvements.

Website| LinkedIn | Facebook

Lee Heisman, Exit Stage Left Advisors

Lee Heisman is a nationally recognized M&A negotiator and a serial entrepreneur. Lee has advised and negotiated on more than 1 billion dollars of deal value as well as personally built and sold four businesses, all in different verticals. Lee’s multi-disciplinary background allows him a unique perspective to build and construct deals at maximum enterprise value for other business owners.

Lee has a Masters Degree from Rutgers University, is a founding board member of the KSU Entrepreneurship Program, and has a nationally syndicated TV show, The Roadmap.

Lee is an avid health and wellness enthusiast.

Exit Stage Left Advisors

Exit Stage Left Advisors is a premier exit consulting firm dedicated to assisting small and medium-sized business owners in selling their companies. The team, composed of seasoned entrepreneurs who have successfully exited multiple ventures, understands the challenges and complexities involved in the sale process. With a proven track record of selling over five businesses, they leverage their expertise to guide entrepreneurs, alleviate their concerns, and enhance the value of their businesses through strategic representation.

Website | LinkedIn | Instagram | YouTube

Topics Discussed in this Episode

00:00 Introduction to ProfitSense
01:11 Meet Yuquan Holloway: From Corporate to Entrepreneur
04:46 Challenges and Lessons Learned in Entrepreneurship
06:54 Future Plans and Strategies for 2025
10:36 Working In vs. On the Business
13:42 Project Management Challenges and Solutions
17:22 Contact Information and Closing Remarks
18:49 Introduction to Lee Heisman
31:55 Embracing the Struggle for Growth
32:19 The Importance of Humility and Learning
33:18 Balancing EQ and IQ in Business
34:08 Learning from Mistakes and Moving Forward
35:29 Maintaining Relationships in Business
36:39 The Art of Saying No Gracefully
38:33 The Value of Professional Representation
42:05 Understanding Business Valuation and Sales
53:46 Unlocking Hidden Profit in Your Business

About ProfitSense and Your Host, Bill McDermott

Follow this link to find the show archive.

Connect with Bill on LinkedIn and Instagram and follow The Profitability Coach on LinkedIn.

The Fundamental Breakdown Between Sales and Marketing, with Sean Shannon, Strategic Growth Design

December 2, 2024 by John Ray

North Fulton Studio

The Fundamental Breakdown Between Sales and Marketing, with Sean Shannon, Strategic Growth Design

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The Fundamental Breakdown Between Sales and Marketing, with Sean Shannon, Strategic Growth Design (One Minute Interview, Episode 128)

Sean Shannon: The fundamental breakdown between sales and marketing, as I have seen it in my time, is an understanding of the ideal customer profile.

In other words, marketing oftentimes is providing leads to the sales team that are of no use to them because marketing doesn’t understand what the sales ideal client profile is. And sales is guilty in that because they have not fed to marketing what that looks like. Peter Drucker’s famous for saying that the vast majority of businesses have no idea what their customers are buying.

They know what they’re selling to them, but they don’t know why the customers are buying it and for what use. And so I like to approach my, my, when I start to talk about value proposition with sales and marketing teams, I like to talk about the idea that we don’t necessarily buy products and services as much as we hire them to do jobs for us in our lives.

And if we can untangle what that job is, that whatever product or service we’re selling is that the customer’s hiring it to do for them in their business, we’re going to end up with an alignment between sales and marketing of both understand what that job is.

Listen to Sean’s full ProfitSense with Bill McDermott interview here.

Sean Shannon, Strategic Growth Design

Sean Shannon is the President of Strategic Growth Design.

Strategic Growth Design helps small and medium-sized businesses and start-ups chart a path to sustainable growth through thoughtful strategy and disciplined processes. Sales is the engine that drives growth, and yet little thought is given to the infrastructure that’s necessary to create repeatable success.

SGD offers business owners and CEOs the opportunity to engage on a project basis or as fractional sales leadership, all driven by the needs of the organization. Some simply need the processes; others need the leadership only years of experience can bring on an interim basis. The pros at Strategic Growth Design are ready to roll their sleeves up and get to work driving revenue north and mental anguish south.

Website | LinkedIn

The “One Minute Interview” series is produced by John Ray and the North Fulton studio of Business RadioX® in Alpharetta. You can find the full archive of shows by following this link.

What’s the Difference Between a Profitability Coach and a Part-Time CFO?, with Bill McDermott, Host of ProfitSense

November 19, 2024 by John Ray

North Fulton Studio

What's the Difference Between a Profitability Coach and a Part-Time CFO?, with Bill McDermott, Host of ProfitSense

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What’s the Difference Between a Profitability Coach and a Part-Time CFO?, with Bill McDermott, Host of ProfitSense

In a commentary from a recent episode of ProfitSense, Bill McDermott, The Profitability Coach, outlines the difference between a profitability coach and a part-time CFO, and the circumstances that necessitate hiring one or the other.

Bill’s commentary was taken from this episode of ProfitSense.

ProfitSense with Bill McDermott is produced by John Ray and the North Fulton affiliate of Business RadioX® in Alpharetta.

Transcript

What’s the difference between a profitability coach and a part-time CFO? We get that question a lot. Business owners often struggle with financial management, making external help crucial. Two common options are hiring a part-time CFO or a business profitability coach. Here are some main differences between the two to help you determine which one best fits your needs.

A part-time CFO specializes in financial management, such as budgeting, reporting, cash flow management, and strategic financial planning. They typically provide high-level financial insights and help with long-term financial strategy.

Meanwhile, a business profitability coach focuses on improving overall business profitability by optimizing processes, increasing sales, reducing costs, and enhancing operational efficiency. They focus on practical, actionable steps to improve day-to-day operations and drive immediate profitability gains.

Of course, there are differences in the engagement duration for each, as well as the cost. Part-time CFOs are often engaged on an ongoing basis to provide continuous financial oversight and strategic planning. They’re generally more expensive due to their specialized expertise and the comprehensive nature of their responsibilities.

Business profitability coaches are typically hired for projects to address specific profitability issues and implement improvement plans quickly. They are usually more affordable, focusing on immediate practical strategies.

If you’re struggling to manage the financial side of your business, get help today for more insight. Check out theprofitabilitycoach.net.

About ProfitSense and Your Host, Bill McDermott

Follow this link to find the show archive.

Connect with Bill on LinkedIn and Instagram and follow The Profitability Coach on LinkedIn.

Katie Taylor, K.B. Taylor Marketing, Bruce Burkholder, Robins, Eskew, Smith & Jordan CPAs, Peter Faser, The Profitability Coach

October 14, 2024 by John Ray

North Fulton Studio

Katie Taylor, K.B. Taylor Marketing, Bruce Burkholder, Robins, Eskew, Smith & Jordan CPAs, Peter Faser, The Profitability Coach

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Katie Taylor, K.B. Taylor Marketing, Bruce Burkholder, Robins, Eskew, Smith & Jordan CPAs, Peter Faser, The Profitability Coach (ProfitSense with Bill McDermott, Episode 63)

This episode of ProfitSense, hosted by Bill McDermott, explores crucial elements for business success, featuring insights from Katie Taylor of K.B. Taylor Marketing, Bruce Burkholder from Robins, Eskew, Smith & Jordan CPAs, and Peter Faser with The Profitability Coach. The session delves into marketing strategies for small to medium-sized businesses, emphasizing the importance of comprehensive plans and brand understanding. It also discusses challenges in accounting, including the shortage of accountants, and the significance of a strong CPA relationship. Additionally, key areas for sustainable profitability and preparations for a business sale are outlined, targeting business owners’ financial acumen enhancement. This episode offers a multifaceted perspective on overcoming current business challenges and optimizing future growth.

Bill McDermott concludes the show by explaining the difference between a profitability coach and a part-time CFO.

Katie Taylor, K.B. Taylor Marketing

Katie provides strategic marketing communications and brand consulting for small to mid-sized service-based businesses and nonprofits, particularly those that do not have the need or budget for a full-time marketing director.

With more than three decades of marketing and communications experience, she helps businesses develop and implement marketing strategies that achieve results.

Katie offers a range of solutions that include marketing planning; branding and messaging; logo and visual identity development; website development and online marketing; sales material development; social media; email marketing; content development; advertising; and public relations.

Website | LinkedIn

Bruce Burkholder, Robins, Eskew, Smith & Jordan CPAs

Bruce Burkholder is an audit and client services manager and works in the McDonough and Duluth offices of Robins, Eskew, Smith & Jordan.

Prior to joining Robins, Eskew, Smith & Jordan in 2019, Bruce worked with a big four firm and a large Atlanta firm. His expertise includes audits, reviews, business consulting and financial statement services. He leads the 401(k) audit practice, works closely with nonprofits to provide audits and financial statement preparation, and services for-profit clients in industries that include manufacturing, distribution and construction.

Robins, Eskew, Smith & Jordan is a full-service accounting firm that strives to be a single-source provider of accounting, audit, tax and business advisory services for our clients. They accomplish this goal by first getting to know each client’s unique situation and financial objectives, and then devising sound strategies that you can rely on.

Website | Company LinkedIn | Bruce’s LinkedIn

Peter Faser, The Profitability Coach

Peter Faser has over 25-years of commercial, corporate and investment banking experience. His passion has always been helping his clients get to a better place financially, whether they are a small business or a publicly traded company. He began his career with Trust Company Bank in Atlanta, managing a portfolio of middle-market clients and guiding them in appropriate balance sheet management and income statement efficiencies.

Peter then pivoted to specializing in the banking of other financial institutions, and for the next 17 years, Peter assisted his clients with debt and equity capital solutions to promote growth, along with providing startup capital solutions for de novo institutions. Additionally, Peter and his team ran due diligence on potential acquisition targets in the banking space and assisted in getting his clients ready to sell.

For seven years, Peter worked with Truist Securities, where he originated a new line of business designed to help corporate and investment banking clients recognize human capital efficiencies by increasing productivity, engagement and retention levels. Through this experience of working with over 500 clients across the country, Peter recognized that the level of advisory services offered to smaller clients was not as prevalent as it once was, and he found that most clients were so focused on running their businesses day to day that they were missing the sensitivity analysis required to move their business forward. He has now joined forces with his former teammate, Bill McDermott, to help fill this educational gap. He is excited to be working with The Profitability Coach and getting back to the fundamentals of helping small businesses discover the right path to profitability.

Topics Discussed in this Episode

00:00 Introduction to ProfitSense with Bill McDermott
01:03 Meet the Guests: Katie Taylor, Bruce Burkholder, and Peter Faser
01:27 Katie Taylor on Marketing Strategies for Small Businesses
04:53 Common Marketing Mistakes and Solutions
10:38 The Importance of Branding for Small Businesses
12:37 Online Marketing Essentials
16:27 Final Thoughts and Recommendations for Small Business Owners
19:34 Introducing Bruce Burkholder: Accounting Insights
24:27 Building Strong Client Relationships
24:57 Evaluating CPA Services
25:26 Importance of Proactive Solutions
25:51 Team-Based Approach in CPA Firms
26:32 Challenges in Accounting: Staffing Shortages
27:46 Addressing Client Needs Amid Staffing Issues
29:35 Strategies for Future Success
31:53 The People Business: Building Relationships
34:31 Introducing Peter Faser: The Profitability Coach
35:09 Peter Faser’s Journey and Expertise
38:27 Key Areas for Sustainable Profitability
41:37 Preparing to Sell Your Business
46:41 Bill McDermott’s Commentary on Differences Between a Profitability Coach and a Part-Time CFO
48:24 Conclusion and Contact Information

About ProfitSense and Your Host, Bill McDermott

Follow this link to find the show archive.

Connect with Bill on LinkedIn and Instagram and follow The Profitability Coach on LinkedIn.

Financial Planner vs. Business Exit Planner: What’s the Difference?, with Bill McDermott, Host of ProfitSense

October 14, 2024 by John Ray

North Fulton Studio

Financial Planner vs. Business Exit Planner: What's the Difference?, with Bill McDermott, Host of ProfitSense

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Financial Planner vs. Business Exit Planner: What’s the Difference?, with Bill McDermott, Host of ProfitSense

In a commentary from a recent episode of ProfitSense, Bill McDermott, The Profitability Coach, offers an insightful comparison between a financial planner and a business exit planner, emphasizing the significance of both for entrepreneurs.

Bill’s commentary was taken from this episode of ProfitSense.

ProfitSense with Bill McDermott is produced by John Ray and the North Fulton affiliate of Business RadioX® in Alpharetta.

Transcript

Financial planner versus business exit planner: what’s the difference? And why you need both? I want to talk a little bit about this. Imagine you’re the proud owner of a thriving business. You’ve spent years building it up from scratch, late nights, early mornings, and more coffee than any human should consume.

Now as you’re starting to think about the next chapter, you realize there’s more to this story than just putting your feet up on a tropical beach. Enter the financial planner and the business exit planner, two professionals who play very different roles in your entrepreneurial saga.

Your financial planner is like Dr. Watson, a Sherlock Holmes sidekick. Steady, reliable, and keeping everything in order while you solve the mysteries of your business. But when it’s time for a big complex sale like selling your business, you bring in the business exit planner. The Sherlock Holmes of the operation to crack the case and get you the best deal.

Here’s some positives and drawbacks for each. The financial planner, they see the big picture in all aspects of your financial life, not just the business. They help with your personal goals, everything from retirement to that dream vacation, and they’re with you for the long haul, adjusting your plan as life changes.

However, while they’re great with personal finance, they may not be as sharp on the business side. They have a wide range of knowledge and skills, but they may lack depth in complex areas like business exits. The Business Exit Planner. They know the ins and outs of selling a business, can maximize its value.

They have focused expertise, meaning they’re laser focused on your exit strategy and help keep you from leaving money on the table. They help you craft a plan tailored specifically to your business timing and goals. On the flip side, they have a more narrow scope, meaning they’re all about the business exit and less about your overall financial health.

Lastly, timing is key. A business exit planner is useful when you’re ready to exit, but not much help before that. It’s all about knowing when to call in the right expert. Your financial planner is essential for keeping your financial house in order throughout your business journey, but when it’s time to sell, the business exit planner ensures you leave on top.

In our story, using both advisors meant the business owner didn’t just retire to that tropical beach.

They bought it.

About ProfitSense and Your Host, Bill McDermott

Follow this link to find the show archive.

Connect with Bill on LinkedIn and Instagram and follow The Profitability Coach on LinkedIn.

Paul Zanardo, Zanardo Dezignz, Beau Billington, The Free Agent, and Mitesh Patel, Blue Sky Law

September 30, 2024 by John Ray

North Fulton Studio

Paul Zanardo, Zanardo Dezignz, Beau Billington, The Free Agent, and Mitesh Patel, Blue Sky Law

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Paul Zanardo, Zanardo Dezignz, Beau Billington, The Free Agent, and Mitesh Patel, Blue Sky Law (ProfitSense with Bill McDermott, Episode 62)

In this episode of ProfitSense, host Bill McDermott talks with three distinguished guests—Paul Zanardo, Beau Billington, and Mitesh Patel—about the strategies behind marketing, the value of fractional executives, and the essentials of business exits. Paul Zanardo, Zanardo Dezignz, discusses misconceptions in marketing and the importance of organic growth over paid ads. Beau Billington, The Free Agent, elaborates on the role and benefits of fractional executives in business. Mitesh Patel, Blue Sky Law, covers critical facets of preparing for a business exit, such as legal audits and maximizing company value.

Bill McDermott concludes the show with an insightful comparison between financial planners and business exit planners, emphasizing the significance of both for entrepreneurs.

Paul Zanardo, Zanardo Dezignz

Paul Zanardo is the CEO and Founder of Zanardo Dezignz.

Paul Zanardo’s background of over 25 years was in sales and marketing. He turned his attention to entrepreneurship in the early 2000’s. While studying website design and earning his degree in graphic design, he opened Zanardo Dezignz in the same year of 2015. Zanardo Dezignz has grown into an award-winning, nationwide marketing communications agency with locations in Alpharetta and Lawrenceville, GA.

Zanardo Dezignz exists to honor God by partnering with business service providers on website design, hosting services, SEO, graphic design, & digital marketing, achieving the highest reputations online.

Paul was named Solopreneur of the Year by the Greater North Fulton Chamber of Commerce in 2024.

Beau Billington, The Free Agent

Beau Billington is the Founder of The Free Agent.

The Free Agent helps companies hire above their weight class, helping them unlock that next level of growth by providing access to vetted and battle-tested experts. They deliver interim, fractional and strategic leadership to plan, scale, and grow your business.

The Free Agent provides access to a vetted bench of battle-tested experts that work directly with technology companies in hyper-growth. Their experts have backgrounds in sales, marketing, technology, product, operations, and finance and are available on a fractional, interim, or full-time basis. Simply put, they provide the right strategic expertise at precisely the right time in order to accelerate results.

Their Core Values:

Open and Honest (Transparent)
Own the Outcome, Either Positive or Negative (Accountable)
Clear and Quick Communication (Responsive)
Intimately Understand our Customers Needs (Inquisitive)
In the Trenches with Customers and Employees alike (Dependable)

Website | LinkedIn | Beau’s LinkedIn

Mitesh Patel, Blue Sky Law

Mitesh Patel is Founder and Principal of Blue Sky Law.

Blue Sky Law is a boutique law firm focused solely on middle-market, privately held companies. Blue Sky Law is armed with experienced attorneys from diverse work backgrounds, and its specialties include mergers & acquisitions, employment disputes and counseling, corporate law, business disputes, contract disputes, general litigation, and real estate transactions and disputes.

Blue Sky Law’s attorneys have decades of combined experience in handling legal business-related matters for their corporate clients, which matters include buying and selling of businesses, creating partnership agreements and contracts, buying and selling commercial real estate, filing and defending lawsuits on behalf of our corporate clients, including partnership disputes, noncompete and trade secret disputes, landlord and tenant disputes, and all types of breach of contract suits.

From entities to acquisitions to disputes, Blue Sky Law knows that the devil is in the details when it comes to navigating business law. They learn the intricacies of your business and offer flexible and individualized service. As former business owners themselves, Blue Sky Law’s attorneys understand that business owners face a complex, ever-changing legal landscape.

Topics Discussed in this Episode

00:00 Welcome to ProfitSense
00:44 Meet the Guests: Paul Zanardo, Beau Billington, and Mitesh Patel
01:00 Paul Zanardo on Marketing Misconceptions
02:17 The Importance of SEO and Online Reputation
06:37 Challenges with WordPress and Ethical Marketing
11:09 Introduction to Beau Billington and The Free Agent
11:24 Understanding Fractional Executives
12:38 The Origin Story of The Free Agent
14:22 Product Market Fit and Business Growth
16:31 When to Leverage Fractional vs. Full-Time Resources
19:44 Current Market Trends and Future Outlook
21:51 Introduction to Mitesh Patel and Blue Sky Law
22:17 Preparing for Business Exit: When and How
25:22 Maximizing Business Value: Key Strategies
26:59 Understanding Legal Audits for Businesses
33:36 Tax Credits and Deductions for Manufacturers
36:57 Finding the Right Attorney for Your Business
39:40 Bill McDermott’s Commentary: Financial Planner vs. Business Exit Planner
42:15 Conclusion and Final Thoughts