Peter Faser Archives - Business RadioX ®

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

00:00 /

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.

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.

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.

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.

Challenges in Exiting a Business, with Peter Faser, The Profitability Coach

May 28, 2024 by John Ray

North Fulton Studio

Challenges in Exiting a Business, with Peter Faser, The Profitability Coach

00:00 /

Challenges in Exiting a Business, with Peter Faser, The Profitability Coach

Peter Faser: I think, the first challenge you always run into is valuation expectations. Having a good understanding of what recent trades are in a specific industry is vital to understanding what your company is worth.

I think a tendency of business owners, because they live it day to day and because they’re emotionally attached to it, is to always think that it is worth X. Like anything, it is worth what someone is willing to pay for it, and especially in businesses, it is worth whether you’re running a discounted cash flow analysis or you’re running an enterprise value based on an EBITDA number.

Where I think I can be most helpful is I’ve spent a lot of time in my career helping clients get to the point where they are ready to sell. But also on the flip side, running due diligence, I worked for two years for an investment bank out of Birmingham, Alabama. And I led the due diligence team because they wanted to expand their line of business.

They wanted to bring a company into the fold, into the holding company. And getting into the weeds of what you look for, the interviews that you’re conducting, the questions you’re asking, and getting into the war room, if you will, of what are the financials really telling you. about the institution that wants to be acquired.

And when you’re on the flip side, I think having worked both sides of the trade, I think I can be very instrumental in helping business owners think through, okay, what is that going to look like for me?

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

Peter Faser, The Profitability Coach

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.

Mark Beal, Instead of Flowers, Peter Faser, The Profitability Coach, and Andrew Henry, Childs Company

March 18, 2024 by John Ray

North Fulton Studio

Mark Beal, Instead of Flowers, Peter Faser, The Profitability Coach, and Andrew Henry, Childs Company

00:00 /

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.

Website | Facebook | Twitter | Instagram | LinkedIn

Peter Faser, The Profitability Coach

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.

Website | LinkedIn | Facebook

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

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. The show is presented by McDermott Financial Solutions. McDermott Financial helps business owners improve cash flow and profitability, find financing, break through barriers to expansion, and financially prepare to exit their business. The show archive can be found at profitsenseradio.com.

Bill McDermott, “The Profitability Coach,” is the Founder and CEO of McDermott Financial Solutions. 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.

Connect with Bill on LinkedIn and Instagram, and follow McDermott Financial Solutions on LinkedIn.