Mark Beal, Instead of Flowers, Peter Faser, The Profitability Coach, and Andrew Henry, Childs Company (ProfitSense with Bill McDermott, Episode 56)
This episode of Profit Sense with host Bill McDermott featured insightful conversations with three outstanding business leaders, focusing on the importance of memorable gifting, better advisory services for business owners, and meticulous planning for business exits. Mark Beal, CEO of Instead of Flowers, shared his experience in the gourmet meal delivery sector, emphasizing the transformative power of meaningful corporate and individual gifting. Peter Faser has just joined Bill at The Profitability Coach, and he discussed why business owners need better advisory relationships in order to improve their profitability. Andrew Henry from Childs Company delved into the critical aspects of exit planning for business owners, underscoring the importance of early preparation, diversification of assets post-exit, and strategic tax planning to maximize the proceeds from a sale.
ProfitSense with Bill McDermott is produced and broadcast by John Ray and the North Fulton Studio of Business RadioX® in Alpharetta.
Mark Beal, CEO, Instead of Flowers
Mark Beal is the CEO and co-owner of Instead of Flowers. He leads the company in its 25th year, working to grow an established and respected company to serve more households and new markets.
Mark started as a customer of Instead of Flowers, having sent gourmet meals as gifts countless times as a financial advisor. He brings that level of service and relationships to the company and its team.
Instead of Flowers
Instead of Flowers is your go-to source for homemade, chef-inspired meals to send to anyone on any occasion to show your appreciation, support, and love. Instead of Flowers reinvents how we all show care. We replace the fleeting beauty of flowers with restaurant-quality meals you can share with family or friends to create a unique experience. We come together by eating together. Instead of Flowers serves that need by providing quality meals at exactly the right time—whether that’s for a birthday, after a baby, after fighting an illness, or remembering a life. It’s an experience—a meal that’s talked about, shared, and savored as something both delicious and memorable.
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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.
Andrew Henry, CPA, CFP®, Partner, Childs Company
Andrew joined Childs Company in 2014 after beginning his career at Ernst & Young, LLP, which is one of the four largest international professional services firms. Ultimately serving as a Senior Accountant in the Assurance practice, his experience includes working with the initial public offering (IPO) for a Fortune Global 100 company, encompassing debt and equity offerings. Additionally, he gained experience performing analytical procedures and extensive financial analysis for client financial statements.
Andrew is a Certified Public Accountant (CPA) and a Certified Financial Planner™ professional. He focuses on the firm’s strategic growth through business development and client satisfaction. Andrew is also responsible for leading the financial planning and business retirement plan advisory practices at Childs Company.
Andrew is a Registered Representative with Kestra Investment Services, LLC and an Investment Advisor Representative with Kestra Advisory Services, LLC.
Andrew graduated from the University of Georgia with a Masters in Accountancy. Andrew actively supports Camp Horizon, a non-profit organization that serves foster care children in metro Atlanta. He lives in Peachtree Corners with his wife and two young sons, and enjoys golf, exercising and spending time outside with his family.
Childs Company
Childs Company is a boutique private wealth management practice. They leverage their 40+ years of business experience and financial expertise to provide comprehensive financial planning and investment strategies to business owners, executives, retirees and young professionals.
Childs Company takes great pride in their fiduciary approach to serving their clients. As fiduciaries, they are obligated to put our clients’ interests above our own. They do not sell or provide proprietary products, and they do not receive undisclosed fees or commissions from any third parties.
Their clients share their values, appreciate their approach and rely on Childs Company to help them make the best financial decisions throughout their lives.
Topics Discussed in this Episode
00:00 Welcome to ProfitSense
01:06 Spotlight on Instead of Flowers: Revolutionizing Corporate Gifting
12:48 Peter Faser: Banking Evolution and the Profitability Coach
25:24 Andrew Henry: Mastering Exit Strategies and Financial Planning
35:20 Bill McDermott comments on the Four Best Ways to Develop Leaders in Your Organization
37:25 Wrapping Up
