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Sanjay shares how to run a successful franchise by following brand processes and adjusting to the shift towards digital, loyalty-driven operations. He also discusses the value of enterprise risk management, compliance, and consistency. Welcome to Elevating Brick and Mortar. A podcast about how operations and facilities drive brand performance.On today's episode, we talk with Sanjay Jain, the Chairman of the National DCP Board of Directors and independent franchise business owner. NDCP brings global expertise in strategic sourcing, distribution, restaurant solutions, business services, and supply chain to serve Dunkin', one of the world's leading restaurant brands.Guest Bio:Sanjay Jain serves as the Chairman of the National DCP Board of Directors. He brings 35 years of Accounting, Finance, and Information Technology experience with Fortune 500 companies to the supply chain management cooperative.Jain joined the NDCP Board in 2016, representing Series C. Prior to becoming Board Chairman, Jain served as the Treasurer, co-chaired the Sourcing Committee, and spearheaded the Internal Audit function at NDCP through his role on the Finance/Audit Committee. He currently owns a large network of Dunkin'/Baskin Robbins stores in Queens and Long Island, New York. As an elected District Advisory Co-Chair franchisee from Queens, he is actively involved with the Development Committee, Compliance, NY Sales Taxes and the Wage Group. In his capacity as a member of Dunkin's Brand Advisory Committee, he works with the Menu Management and Development Advisory Sub-Committees.Jain's work as a financial executive and certified public accountant in the retail, food and supply chain industry has included an emphasis on internal controls, financial reporting, tax, and risk management. As the Executive Vice President and Chief Internal Auditor of Abovenet Inc., Jain helped turn the Company from bankruptcy into a publicly traded company on the New York Stock Exchange by working closely with the Audit Committee and the Board of Directors. He developed their annual strategy, conducted risk analysis, and developed corporate plans for both domestic and foreign entities.He also has ten years of public accounting and consulting experience. In his role as Audit Director at Ernst & Young and BDO Seidman in the Metro New York area, Jain helped clients streamline both their operations and control processes, managing and leading groups of professional auditors worldwide that saved his clients millions of dollars. He has been actively involved as a Board member with the Institute of Internal Auditors and has presented at the American Institute of Certified Public Accountants forum.Jain has a Management Information Systems degree from the University of Hartford, a Master of Business Administration degree from Dallas Baptist University and a Master of Commerce degree from the University of Rajasthan in India. Timestamps:13:45 - About NDCP05:17 - Sanjay's venture into franchise ownership08:53 - Following brand guidelines10:24 - Handling consumer expectations20:31 - How do you ensure consistency? 28:35 - Dealing with scarce human capital33:49 - The consumer of the future39:35 - Advice for franchisees41:13 - Where to find SanjaySPONSOR:ServiceChannel brings you peace of mind through peak facilities performance.Rest easy knowing your locations are:Offering the best possible guest experienceLiving up to brand standardsOperating with minimal downtimeServiceChannel partners with more than 500 leading brands globally to provide visibility across operations, the flexibility to grow and adapt to consumer expectations, and accelerated performance from their asset fleet and service providers.Links:Connect with Sanjay on LinkedInConnect with Sid Shetty on LinkedinCheck out the ServiceChannel Website
As attorneys, we don't always think of our practice as a business but it is, in fact, the most valuable asset we have. It is important to understand the value of a practice and the right way to exit your business if you feel it is time for a change. In this episode we discuss: Creating enterprise value while planning an exit strategy What is enterprise goodwill How it’s all about cash flow The three ways to exit a business How a business is valued The importance of mindset The retirement income gap Financial tools for estimating the worth of your business Capturing growth and investing it for the future Security in knowing you can create more The importance of Buy-Sell Agreements Bio: Michael’s mission is to help associations, business owners, executives and their families make prudent financial decisions to avoid financial failure. Michael coaches his clients on the academics of investing, based upon Nobel Prize economist’s investment strategies and theories. During the exit planning process, Michael help his business owner clients discover their exit objectives. These objectives include identifying how much money they need to receive from the sale of their business to maintain their lifestyle during retirement, identify the most effective way to transfer their business and to whom do they wish to transfer the business. Michael joined Strategies for Wealth in 2004, after personally experiencing their uncommon planning process as a client since 2000. Prior to Strategies for Wealth, he was a partner with Let’s Talk Business Network, an entrepreneurial support community. He began his professional career at Deloitte & Touche and BDO Seidman. Michael received is Bachelors’ of Science in Accounting from State University at Albany and his Masters of Business Administration at New York University Stern School of Business. Michael has been a board member of Marlboro Jewish Center, Special Strides Riding Academy and NIPD/NJ (National Institute for People with Disabilities of New Jersey. Michael and his family work closely with 3Hearts4Paws, a dog rescue in Marlboro, NJ. They have fostered over 100 dogs over the last few years and have 6 rescue dogs of their own. Snip-Its 00:20:11 - (Michael Ringel) How much is your portion of that business worth? And will that be enough money? Plus your personal balance sheet to be able to produce the cash flow for you in retirement, to enjoy the lifestyle that you worked so hard to achieve? And if it is, that's great to know and that gives you the ability to leave at any time. And if you don't, then you need to do one of two things, you need to save more money. You really need to grow the business to produce that enterprise value such that when you sell your portion of the business that is going to fulfill the gap or you have to reduce the amount of money that you're going to require in retirement. 00:31:37 (Allison) And I wanted the same thing that just about every small law firm owner that I know wanted. I wanted security. I wanted I'm going to I'm going to grind it out for a little while and then I'm going to land at having arrived and it will be easy. And that's the myth that we all reach for. Right. So I had to outgrow that myth. And that only came through working with coaches to really get into my head space and say, wait a minute, you know, the security doesn't come from money in the bank. The security comes from the ability to generate more money when you need it as you need it. And so that is what we ultimately help lawyers to create. And that that, you know, getting out of that that pattern of thinking, you know, X dollars is going to create safety for me is empowering so that they can create that economic safety, that safety net. But recognizing that if that safety net goes away, you're still secure because you can create more. 00:40:04 (Allison) The power is in the plan that comes before the fall because there is always going to be the shit happens moment. And we don't know that it's going to be in the dissolution of the partnership. But much more often than not, partnerships dissolve. So all of you that hear that stat of businesses fail within the first five years in professional practices, it's not often that the lawyer that owns the firm is suddenly not able to own the firm anymore. It's often that there is a business dissolution.
Small businesses are important to the nation’s economy. Over 80% of our gross national product is produced by employers with less than 100 employees and the failure rate is 76% to 90% in the first one to two years. Harry Lay, trusted advisor to CEOs and owner and president of Lay Professional Services, provides services primarily to small businesses to help them accomplish things they can’t seem to accomplish without somebody’s help. Harry says there are lots of companies that are underperforming, and he looks for the willingness and the ability of people to change what and how they do things. In order for them to move from where they are to where they want to be, he offers them the skillsets that they need but don’t have. Harry shares how he leveraged his skill as a CPA into starting his own consulting firm and becoming the trusted advisor to CEOs and business leaders worldwide. — Watch the episode here: Listen to the podcast: The Trusted Advisor: Learning From The Voice Of Experience Harry Lay We’re incredibly fortunate to have (https://www.laypsi.com/) , he’s the owner and president of Lay Professional Services, and he’s a good fishing buddy of mine. Harry, thanks for taking the time. It’s a pleasure to be with you, as always. Tell us a little bit about your business and who you serve. Lay Professional Services Inc. (https://www.laypsi.com/index.cfm) is headquartered in Tulsa. We provide services primarily to small businesses. The Chamber of Commerce, define small businesses, employers with 100 employees or less. I work with early stage mature small businesses and I help them accomplish things they can’t seem to accomplish without somebody’s help, Folks go, “I’m that small business and I probably need some help.” Why should Harry be qualified? They don’t know your history and I do. Let’s dig in a little bit and talk about your journey prior to professional services. Most people, when there’s something they want to change in their business, they want more income, and they want more sales or more profits. When I talk about I help companies change whatever it is in their company they want to change. That’s a pretty broad statement. I’ve had a pretty broad range of experience by education and training. I’m a CPA, at this stage of my career I’m a reforming CPA. I spent nineteen years in the profession, first of all with Arthur Andersen’s company as an auditor. After a few years there, two of their tax partners and I left. We formed our own firm in Tulsa and after almost ten years we grew to be one of the larger local firms. We were merged with or acquired by BDO Seidman (https://www.bdo.com/) . I was a senior audit partner with them for two more years before I got an incredible opportunity. In the CPA world, I worked in virtually every industry that specialized in construction type clients, both in commercial and residential real estate, real estate development. My favorite client was Weyerhaeuser (https://www.weyerhaeuser.com/) , the forestry company. You’ve heard some stories about that. An architecture firm contacted me in Tulsa about 1988 and asked if I would become their president and chief financial officer. I was a single parent with a thirteen-year-old daughter at the time, so I’m not sure why I took that job. I don’t remember what motivated me to do that. It might’ve been my concern about the SEC and their crack down on publicly held companies, but I did take the job. I realized pretty quickly I didn’t know what I was doing. I didn’t know that much about business. That may sound odd for a nineteen-year CPA veteran. I knew how to audit companies. I knew how to work with companies that somebody else had generated. I knew how to account for transactions. However, how to motivate people and how to attract clients and retain
Ebong Eka is a CPA who has built a successful small-business consulting and technology toolkit during the last 12 years. He has worked with several of the largest professional services firms, in-cluding PricewaterhouseCoopers, Deloitte & Touche, and BDO Seidman. Ebong is also an executive with Levyti Consulting, LLC, an advisory firm in the Washington, DC area. Ebong is a tax and small business expert who regularly appears on MSNBC, Fox News, Fox Business Channel, NBC, HuffPost Live, and CNN, and is a regular blog contributor for the Huffington Post Business Section. He lives in the Washington, DC area. • •
A panel of professionals and executives offer advices on accounting careers at the JobSmart Career Hour, the Executives On Campus Program. The Speakers include Jeffery Agranoff, the Human Resources and Recruiting Director at Friedman LLP, Monique Kasmari, the College Relations Manager for the northeast region for BDO Seidman, and Gene Ozgar, a Partner with KPMG. The event takes place on December 2, 2008, at the Baruch College Vertical Campus, Room 14-245.
Chip Joans, National College Relations Manager, BDO Seidman and Ayanna Stephens, Diversity Lateral Recruiting, Lehman Brothers, talk about interview tips at the Executives On Campus Program's JobSmart Career Hour. Topics include: preparing for various types of interviews, such as a first interview, a follow-up interview, group interviews, and a telephone interview; research and preparations for interviews; dress code for interviews; interviewers' favorite interview questions; questions students may ask; Dos & Don'ts during the interview; and thank you letters, etc. A Q & A session follows. The event takes place on April 1, 2008, at the Baruch College Vertical Campus, Room 14-235, moderated by Baruch student Roseliny Genao.
A panel of professionals and executives offer advices on accounting careers at the JobSmart Career Hour, the Executives On Campus Program. The Speakers include Jeffery Agranoff, the Human Resources and Recruiting Director at Friedman LLP, Monique Kasmari, the College Relations Manager for the northeast region for BDO Seidman, and Gene Ozgar, a Partner with KPMG. The event takes place on December 2, 2008, at the Baruch College Vertical Campus, Room 14-245.
A panel of professionals and executives offer advices on accounting careers at the JobSmart Career Hour, the Executives On Campus Program. The Speakers include Jeffery Agranoff, the Human Resources and Recruiting Director at Friedman LLP, Monique Kasmari, the College Relations Manager for the northeast region for BDO Seidman, and Gene Ozgar, a Partner with KPMG. The event takes place on December 2, 2008, at the Baruch College Vertical Campus, Room 14-245.
Chip Joans, National College Relations Manager, BDO Seidman and Ayanna Stephens, Diversity Lateral Recruiting, Lehman Brothers, talk about interview tips at the Executives On Campus Program's JobSmart Career Hour. Topics include: preparing for various types of interviews, such as a first interview, a follow-up interview, group interviews, and a telephone interview; research and preparations for interviews; dress code for interviews; interviewers' favorite interview questions; questions students may ask; Dos & Don'ts during the interview; and thank you letters, etc. A Q & A session follows. The event takes place on April 1, 2008, at the Baruch College Vertical Campus, Room 14-235, moderated by Baruch student Roseliny Genao.
A panel of professionals and executives offer advices on accounting careers at the JobSmart Career Hour, the Executives On Campus Program. The Speakers include Jeffery Agranoff, the Human Resources and Recruiting Director at Friedman LLP, Monique Kasmari, the College Relations Manager for the northeast region for BDO Seidman, and Gene Ozgar, a Partner with KPMG. The event takes place on December 2, 2008, at the Baruch College Vertical Campus, Room 14-245.
Please click on the POD button to listen to the latest Atlanta Business Radio show podcast broadcasting live each Wednesday at 10am EDT from the Business Radio X studio in Atlanta, GA, USA. Here's how to listen to the podcast of our show. First click on the title of the show you are interested in. Then there should be a player in the upper right hand corner of the screen. Now just press play and the show you chose should start playing. You can also download the show to listen on your mp3 player. We are now available on iTunes, click this link and you can find all our past shows. Press SUBSCRIBE and you will automatically get the latest show when you sync your iPod to your computer.We opened the show with Michael Moore, Cost Segregation Expert with BDO Seidman LLP. Micheal explained how his department helps clients lessen their Federal tax bill through an IRS authorized method of accelerating portions of real property to shorter depreciation lives. But remember you must be profitable to take advantage of this opportunity. The recent Economic Stimulus bills have opened up a lot of opportunity business owners if they know where to look and Michael explained that BDO Seidman has been helping their clients grow for over 100 years. To learn more please go to www.bdo.comNext up we had Jonathan Rosen, CEO of Entaire Global Companies. Entaire is the leader in the rapidly expanding field of Financed Planning, which is a new approach to wealth building for business owners, physicians and other entrepreneurs. Through its affiliations with world-class insurance and annuity carriers, Entaire provides innovative retirement funding solutions while offering an advantage in tax efficiency. To learn more contact Jonathan through his website www.entaire.comNext David M. Walker, Business Attorney explained The Business Owner Movement (BOM) he is helping start in Atlanta. The BOM is a new program for entrepreneurs who want to start or expand their business but need guidance and advice. David offers yearly membership which includes weekly classes and networking opportunities. The BOM offers new members a chance to receive a Georgia limited liability company and federal tax ID as well as assitance with opening a small business bank account. To learn more please go to www.thebom.bizAnd we closed the show with Andrew Freeman owner of Cherries Divine. Cherries Divine is the place to go for elegantly packaged long stem chocolate covered cherries. You won't find a more delicious corporate gift idea than a box of Andrew's chocolate covered cherries. He explained that his family recipe has been delighting all who have tasted these cherries. All of the guests at the studio today could not stop munching on these tasty treats. So if you are looking for a unique client gift that will have them talking about you long after you leave then check these guys out. Affordable, elegant and delicious. You won't go wrong with Cherries Divine. Please go to their website www.cherriesdivine.com And if you ahve a retail store or gift shop you should seriously think about carrying these. Also if you know of a business in Atlanta that we should know about please email Amy Otto at Amy @ atlantabusinessradio.com and we will try and get them on the show