Podcasts about cfo

Share on
Share on Facebook
Share on Twitter
Share on Reddit
Copy link to clipboard

Corporate title

  • 4,245PODCASTS
  • 8,607EPISODES
  • 35mAVG DURATION
  • 5DAILY NEW EPISODES
  • Dec 3, 2021LATEST

POPULARITY

20112012201320142015201620172018201920202021


Best podcasts about cfo

Show all podcasts related to cfo

Latest podcast episodes about cfo

Acquired
Not Boring (with Packy McCormick)

Acquired

Play Episode Listen Later Dec 3, 2021 164:48


When does a creator become a company? Who says that media companies — or venture firms — have to be organizations? How high is the ceiling on one person + the internet? Acquired has the answers and they are... Not Boring.

Business RadioX ® Network
Hugh Glazer With WinterView Group

Business RadioX ® Network

Play Episode Listen Later Dec 2, 2021


Through the WinterView Group, Hugh Glazer has provided coaching and business operations consulting services to private companies with a focus on Business Operations as a consulting CFO and Coach to CEOs & CFOs. Hugh Glazer is a career CFO/COO experienced in building and leading finance and business operations teams in over ten organizations. He has […]

Ideas de Master Muñoz
EP 18| El vino ahora es un activo + ¿Qué pasó con el comercio electrónico?

Ideas de Master Muñoz

Play Episode Listen Later Dec 2, 2021 43:27


00:00 Introducción y noticias extraordinarias  1:00 Partida oficial de ricardo moreno de ajedrez  2:30 Variante de Omicron  6:00 ¿El vino es un activo?  12:00 Cartel del control de los precios el mercado de jarabe de maple  17:00 ¿Qué pasó con el comercio electrónico? 20:00  Ley Anti-hater en Australia  21:00 ¿Qué pasará con Muñoz en el 2025? 25:30 Market watch  28:00 Harry Dent predijo la caída del 2008  31:00 CEO más joven de la historia  33:00 ¿Cuál es el mejor momento para ser emprendedor? 35:30 Nueva sección del podcast “Lo que callamos los CFO´s” 39:00 Podcast en vivo 

The CFO Playbook
Leveraging Real-Time Data with Christian Lee, CFO of Transfix

The CFO Playbook

Play Episode Listen Later Dec 2, 2021 41:18


Christian Lee has had the unique position of CFO in two industries that have been particularly impacted by the pandemic, real estate and supply chain. Christian left WeWork in early 2021 for Transfix, a hyper-growth startup and leading freight marketplace connecting shippers to carriers. His proximity to these industries has underscored in him the need for CFOs to pay attention to the problems the pandemic has surfaced.While 2022 is indeed a new year, Christian stresses that finance professionals shouldn't overlook challenges in hopes of a ‘new normal.' At Transfix, he's taking a data-forward approach to solving the business problem of inefficiencies in the supply chain as well as leveraging automation on the finance side of the business. Christian emphasizes the importance of finance partnering with the data science team in order to best optimize and drive insights from the data gathered. He says the whole team should be on the same page by having equal access to real-time data, but it's not enough to simply be in the know: you have to use it as a jumping off point for asking the right questions to move the business forward.On this episode of The CFO Playbook, Christian talks about disrupting the supply chain industry in the midst of a pandemic, describes why automation is in his top three priorities for 2022, and underlines why Transfix places real-time data at the center of every decision they make.Connect with Christian on LinkedIn.Connect with our host Ross on LinkedIn.If you want a better way to track and control your team's spend, check out Soldo.com.

Cannabinoid Connect
#247: Matt Melander, LEVIA

Cannabinoid Connect

Play Episode Listen Later Dec 1, 2021 28:59


Matt Melander is the President and CFO of LEVIA, the company behind the #1 cannabis-infused seltzer in the country.

CFO Thought Leader
756: Start-ups, SPACs, and Street Fights | Michael Levine, CFO, Payoneer

CFO Thought Leader

Play Episode Listen Later Dec 1, 2021 48:03


Start early, stay late, be prepared, and don't shy away from the street-fight environments surrounding start-up companies. These methods have helped Michael Levine to bound up an unconventional leadership ladder en route to the CFO office of Payoneer, the global B2B digital commerce company that he helped to take public in June of this year via a special purpose acquisition company (SPAC). According to Levine, Payoneer's decision to go with a SPAC rather than a traditional IPO was influenced by his ability to share forecasts with prospective investors amid the pandemic's digital commerce boom. Levine followed an untraditional path to the CFO office, from his start as an investment banker to his swift rise up through the ranks in the commercial banking, telecommunications, and healthcare software sectors. Fresh from Wharton, Levine recalls, he would wait at the end of the line queued up outside the vice chairman's office each evening in hope of a brief audience. On occasion, he might eventually snag a precious few minutes after 8:00 p.m. to chat with the senior leader about his day and the investment bank itself. Now, a decade after joining Payoneer, Levine starts his work at [5:30] each morning with a breakfast of payments volumes, fee revenue, take rates, customer acquisition costs, and other KPIs. Thanks in part to his long days, rigorous preparation, and “beyond what?” focus on why the numbers are what they are, Payoneer has grown from 100 employees and $13 million in revenue in 2011 to approximately 2,600 employees and revenue north of $345 million today. Before each board meeting, Levine preps by asking and answering every question that the board might ask. His hard work lets him skate to where the puck is going to be, which his board appreciates: At times, they've asked Levine to help CFOs at their other companies to sharpen their board communications skills.

CFO at Home
73. Financial Anxiety

CFO at Home

Play Episode Listen Later Dec 1, 2021 43:51


Michele Paiva is a Licensed Psychotherapist, Recovery Coach, and Certified Finance Educator with 30 years of experience in helping others to see their true value in order to springboard into a full, rich life. On this episode of CFO at Home, Michelle and Vince discuss financial anxiety, spending habits, the impact of money stories on your financial behavior, and more. Key Takeaways Financial Anxiety - Having an anxious/dysfunctional relationship with money; Identifying money as a part of ourselves Financial anxiety can occur in any ethnic/socioeconomic class Marginalized individuals have specific challenges when it comes to money  Black men, Asian woman make 20% less than White males The well-to-do can struggle based on a unhealthy  relationship with money (can never have enough money, etc) Our spending habits are often shaped by a need to “fit in” in your neighborhood, social group, etc Your money story is often your emotional story - As you begin to understand your self-value, your net worth often starts to improve Understanding your partner's money story It's often easier to see your partner's money story than your own Be compassionate; if you're struggling with some of your partner's behavior that relates back to their money story, they could very easily be struggling with aspects of your behavior as well Resources TheFinanceTherapist.com TheFinanceTherapist.com/books/ Ways to contact/follow: PaivaPsych - Instagram PaivaPsych - Tik Tok PaivaPsych - Facebook Contact the Host - vince@thecfoathome.com

The Solarpreneur
The 1 Thing That Prevents Most People From Hitting Sales Goals

The Solarpreneur

Play Episode Listen Later Nov 30, 2021 19:55


DOWNLOAD SOLCIETY APP NOW!Speaker 1 (00:03):Welcome to the Solarpreneur podcast, where we teach you to take your solar business to the next level. My name is Taylor Armstrong and I went from $50 in my bank account and struggling for groceries to closing 150 deals in a year and cracking the code on why sales reps fail. I teach you to avoid the mistakes I made and bringing the top solar dogs, the industry to let you in on the secrets of generating more leads, falling up like a pro and closing more deals. What is a Solarpreneur you might ask a Solarpreneur is a new breed of solar pro that is willing to do whatever it takes to achieve mastery and you are about to become one.Speaker 2 (00:44):The 1 thing that prevents most solar salespeople from hitting their goals and closing deals. That's what we're going to be jamming on today. That and much more coming up on today's podcast. My name's Taylor Armstrong. I'm here to help you close more deals, generate more leads and referrals, and hopefully have a much better time in this great solar industry. Hope you had a happy Thanksgiving, good time with your family. Hope you took the day off. That would be a good day to go and knock. Some doors hit up some people, but I hope that you can take Thanksgiving and Christmas off at least from knocking doors, but a great Turkey day. Great time with friends and family. Hopefully you enjoyed it today. We're going to be talking about something a little bit different, and I love this topic because it's something that I have a lot to learn on. So I love hearing from experts on the topic and that is the topic of finances.Speaker 2 (01:43):Then I'm going to tie that into what that has to do with closing deals and hitting your goals. But it's actually been a big piece. That's helped me out tremendously to close more deals is thinking more about the financial side of things. And the reason we're talking about this a little bit more right now is because if you miss the big announcement we brought on our first ever sponsors of the show, and that is our friends over at Pi Syndicate. If you hadn't noticed, we brought Jerry, if you sell him the show and he started this financial mastermind basically to help people get their mind, right? When it comes to the money piece of the puzzle. So big thank you to them. And if you want to get, you know, your finances, right, definitely hit them up. Tell them you heard about them from the podcast and they're going to hook you up.Speaker 2 (02:37):They're going to take care of you. So go over to Pius in the get.com. We'll post their a website in the show notes of this, go check them out, let them know you appreciate them sponsoring the show and next up. So we're gonna actually hear from their CFO, his name's Austin. And he's going to share a little bit more about their vision and goal is with Pi Syndicate. But anyways, back to the topic at hand of the show today, and so something that prevents people from closing deals more than you think is they have no financial plan in place. And I've talked about this book a lot recently, a lot of podcasts, but closer survival guide by Grant Cardone. He lists this matter of fact is one of the top 10 reasons that closers fail is they don't have a financial plan in place. And we're going to get into what exactly is a financial plan, because I didn't even know what this was when I first read it.Speaker 2 (03:40):It's like, what is he talking about? Financial planning. What was that to do with closing deals? So I didn't expect it. Maybe you don't expect that either, but before we talked about what is a financial plan first, I just want to mention that you need to get your head right around money. If you're like, I don't know if anyone's like me, but I had an enormous scarcity mindset around money. And most you've heard my story. I was in college at Southern Utah university. I was donating plasma to pay my rent. And basically my summers, a pest control. Didn't go as well as I hoped. So I didn't even have money to pay my rent at the time as donating plasma. And I was that kid on campus that was going to every single club event, every single thing to try and get just some free food.Speaker 2 (04:36):If you've been on campuses, you know, they do those events all the time where they're handing out free pizza, where there might need to come check out the clubs. I wasted so many hours go to these events, listening to pointless meetings, just because I knew there was going to be a slice of pizza at the end. That's how desperate I was. I literally did not want us want to spend a dime out of my pocket. If I knew I'd go get free food somewhere. And that was just the tip of iceberg. I was the guy that our school had this discount card it's called disturbing student heard where every single restaurant in town, then a deal for college students was mostly like, buy one, get one free burgers. Or I don't know if some sort of like bonus you got with your meal.Speaker 2 (05:24):Every single day I went on in college. I refuse to go to any place that was not listed on this card. So I'm like, I'm not paying a dime over what I should. I'm going to get some type of deal. I'm going to get some type of discount or else I'm not going there. So that was me pretty sad. Right. And I didn't have money. So I mean, it was driven by that. That's not like, you know, that was kind of the factors when you're broke, you do pretty crazy stuff. And the craziest thing I probably did was we even went on a, we went on a trip with some buddies freshman year at college, we decided, Hey, we're going to go out to California. We're going to go to six flags. Knott's Berry farm. I dunno, a few different places. And we went there.Speaker 2 (06:13):I was so broke. I was literally finding leftover concessions on people's tables at six flags. I was going around if I saw a piece of pizza or some fries that looked like they hadn't been touched, I was snagging people's foods off tables, pretty nasty. Right? So I did some extreme stuff. I was broke and this caused me just like some crazy distress. And my head caused some crazy thoughts about money that I was never going to have money. I was always going to be short on money. I was always going to be strapped for cash. So just causes an enormous scarcity mindset. And they've seen it in a few of my friends. I didn't grow up. My parents weren't broke or anything. My dad's a dentist. So, you know, upper middle class, we always have money. We always, you know, never went hungry, nothing crazy like that, but I just never really had jobs.Speaker 2 (07:12):I was a music major. So I was always practicing my drums, my percussion. I didn't have time to go work. So if you're like me, if you had these, if you had these types of thoughts in your head, they're likely still carried over to this day. And that's part of what I struggle with now is I still find myself having these thoughts where I don't have money. I'm not going to be able to provide for my family. I'm going to be short on cash. Okay. And it's not an issue now, but they still creep up just because it was so ingrained in my head, back in my college days and back growing up that I didn't have money to, you know, buy what I wanted. Guess this is the first step before you create a financial plan, do you get your mindset right around money?Speaker 2 (08:05):It's a work in progress for me, but think how can you get your mindset right around cash. Someone that I look up to a lot that talks about this topic all the time is river Skinner. He was a guest on the podcast, but he has his whole abundance kind of movement. He calls it. He's always preaching about being more abundant. He's always going to gas stations and like cheering that he's paying four or five bucks a gallon for gas. Cause he's abundant. So think how can you be more abundant? How can you get rid of those scarcity mindset, feelings around money? Because we don't do it. It's going to be holding you back in your financial goals. It's going to make it tougher to close deals. It's going to make it tougher to have success in the solar industry. So be abundance, something that helped me is just actually having physical cash, handling it these days.Speaker 2 (09:05):Most people don't carry on physical cash. Most people don't even look at their dollar bills, right? It's all in Venmo. It's own PayPal. It's all in cash app, whatever, but they're not seeing the physical cash. So if you can't see it, how are you going to know you have the money, right? You go look at the bank account, but something that actually helped me tremendously go, don't go get a withdrawal of actual physical cash. And I kept in an envelope for a months. I shouldn't do this again would probably help now. But something I did for months, I would get, I had a hundred dollar bill, $50 bill, $200 bill, $10 bill. I would take them out and I would physically handle them every day. And I would just envision myself having extra cash. I would envision myself never being short on that money.Speaker 2 (10:00):I was handling in my hand and I was doing affirmations around it. So try that, go print out some physical data. Can you print it out, but go withdraw some physical cash, have it in an envelope and maybe get your mind, get your mind wrapped around that you have an abundance of cash. Is that step number one, make sure you get your mind right around money. And then step number two is get that financial plan in place. Ok, game Grant Cardone talks about this as one of the reasons why closers still, they don't have the plan in place. So if you have the book, it's step number seven, it's on page 66. He talks about this and go read the whole thing if you want. He just has a couple pages on it, but just to summarize it, he talks at the end, say most people correctly estimate their financial needs or never created a financial plan at all.Speaker 2 (11:04):Get a financial plan today and make sure it is going to do more than pay the bills, but also create financial freedom for you in your household, you will start closing more deals and you'll quit underestimating the amount of effort, energy, and enthusiasm. It takes to get a deal closed. The bottom line is this. If you underestimate what it takes to create real financial freedom, then it only makes sense that you will underestimate what it takes to close a deal. Mike drop right there. Right? And I can personally test to this. One of the recent best months of sales that I had recently is we were investing in this rental property. Is some of you that follow me over on Instagram. I talked about how we're getting a rental property for an Airbnb over in Utah. And that month I just had this excitement like, man, I want to go out and create this money so I can put it towards that property.Speaker 2 (12:03):In that month I had, I think it was 14 deals closed 13, 14, where the previous months I always had, I was closing, I don't know, 6, 7, 8, but I had that extra level of excitement that I was putting my money towards something that I was excited about towards an investment for my future can that's part of having a financial plan in place is your planning for how you're going to create extra income in your planning. Then miss Mintz, you're going to make with that extra income, you're planning your future with it. You're not just paying the bills. And you think of these companies that just cut costs, cut costs, cut costs, just strict budget that you'll also follow these people like Dave Ramsey, Susie Orman, who followed me into Cornell. And he bashed on them all the time because what do they talk about? They talk about just living by a super strict budget, cutting costs, cutting, chopping up your credit cards, right?Speaker 2 (13:01):And just, you know, live in his slim as you can. But I think it's super powerful, especially in sales, go out and close more deals to create your financial freedom, right? I want to live like a king and have extra money from my investments. And obviously, you know, there's a balance from it. You know, I'm going to go bolt insane amounts of money. You shouldn't be dropping thousands of dollars at the club every weekend, right? So within reason, but think how can you create that extra income to live, how you want to live and then have that extra money for your investments. So I think the first step in creating that financial plan is yes, figure out how much money you need to live. It. You do want to figure out what is your budget? What exactly you're going to do? You know, how much money do you need to live, right?Speaker 2 (13:57):And how much money do you need to fund future retirement plans, vacations children's education, all that, stuff like that. And then second Grant Cardone talks about this. Figure out how much money you actually need to bring in monthly in order to create solvency and get all that you want accomplished, which solvent seat is the ability of an entity to pay its debts with available cash. So your financial plan should include clearly state and monetary goals. Exactly how you're going to create surpluses of money, what to do with the surpluses and investments. So this is very important. Go and write down, have your financial plan written down. How much do you need to live? Hey, you should be doing that. If you haven't done that, go track, you know, figure out all your exact expenses, figuring out how much you need to live to put a week each month, but then figure out what is your surplus.Speaker 2 (14:55):So how much surplus do you want to have each month? What are you going to do with that? Write down your investments in this goes into why I think joining something like Pi Syndicates is a great idea because if you don't know, if you're like me, you don't know what 10 miss your money in it all. I'll be honest. I am not a financial group. I'm not good with investments. And that's why I never invested really in the past. That's why it still can meet, taken me until now to get my first rental properties, because I just thought, oh, I don't know where to look. I don't know. I don't know how to tell if this is a good deal or if it's going to cash flow. But if you can be around a group of people who know what they're doing, a mastermind style, like Pi Syndicate guys that have, you know, multi-multi millionaires that you know, have tons of different investments that are super successful.Speaker 2 (15:55):iThat's going to jumpstart the process. So that's why I decided to have them as the sponsor for the show is because so many people in this industry, they can make money, but what are they doing with it? And are they paying all the uncle, Sam, if that's the other thing, that's super powerful joining pipes. And they get, you're going to learn how to actually take that money. You would be given to uncle Sam and investing it and avoiding what you would probably paying taxes otherwise. So that's the two big steps of the day. And this is why a lot of people felt you don't have a financial plan. So today, wherever you are after your workout, after your ride out to area, wherever you're listening to this, sometime today, take out your notes app, take out a pad of paper, write down what is your financial plan?Speaker 2 (16:48):How much do you need to have the live every month? And then how much surplus are you going to have every month? What are you going to do with that? Write it out, get it in front of you, slap it on the mirror, put it on a vision board. If you're into that stuff, I think is super cool to have maybe print out a picture to go with it. And then that's how you're going to create this excitement. I guarantee you, if you do this, it's going to motivate you to push harder and deals than you were before. And something that I feel like I became a better closer when I had a kid actually just had my second kid. Now, when I'm in deals, I know, okay. I want to feed my kids. I want to know on for my kids' future. So it allows me to push harder to hang in deals longer than I would otherwise it's.Speaker 2 (17:40):So what's that motivation that you have? What stage you're in, how are we going to create that extra motivation to push hard in those deals? Yeah. You're not going to be pulling people's teeth, but you're going to stick in that deal and this is the way to do it. So that's the topic of today. Make sure you get your mind right around your buddy. And then step two, have that financial plan in place. It's going to change your game in solar. I promise you. So let me know what you think of this topic. Let me know if you like these financial topics. Next episode, we're going to have Austin on the show. He's going to dive in a little more. He's the expert on this stuff. So you're gonna hear from him. So don't miss out and get your finances, right? Close. Some deals deals this week and we will see you on the next episode. Peace.Speaker 3 (18:32):Hey, Solarpreneurs quick question. What if you could surround yourself with the industry's top performing sales pros, marketers, and CEOs, and learn from their experience and wisdom in less than 20 minutes a day. For the last three years, I've been placed in the fortunate position to interview dozens of elite level solar professionals and learn exactly what they do behind closed doors to build their solar careers to an all-star level. That's why I want to make a truly special announcement about the new learning community, exclusively for solar professionals to learn, compete, and win with top performers in the industry. And it's called the Solciety, this learning community with designed from the ground up to level the playing field to give solar pros access to proven members who want to give back to this community and help you or your team to be held accountable by the industry. Brightest minds four, are you ready for it? Less than $3 and 45 cents a day currently Solciety is open, launched, and ready to be enrolled. So go to Solciety.co To learn more and join the learning experience. Now this is exclusively for Solarpreneur listeners. So be sure to go to solciety.co and join. We'll see you on the inside. 

Taxgirl
73: How to Improve Company Culture Amid the Great Resignation

Taxgirl

Play Episode Listen Later Nov 30, 2021 35:12


When you hear the words “company culture,” what comes to mind? Workplace culture is a hot issue these days, especially as it relates to jobs and the so-called “Great Resignation.” What do employees really want: freedom, tangible perks, a more inviting company culture? CEO and Entrepreneur Jay Steinfeld shares his story of success and expertise when it comes to corporate culture.  “If you want to do things of consequence, if you want to build consequential things, I think you must first help people become consequential.” - Jay Steinfeld, on improving company culture. On today's episode of the Taxgirl podcast, Kelly is joined by Jay Steinfeld to chat about corporate culture and the impact it can have on a company's workforce. Jay was the founder and CEO of Global Custom Commerce, which operates the world's number one online window covering retailer, blinds.com. Jay bootstrapped the company in 1996 from his garage with just $3,000; Global Custom Commerce was acquired by The Home Depot in 2014. Jay remained the company's CEO, and later joined The Home Depot's Online Leadership Team.  After stepping away from these roles in early 2020, Jay has increased his involvement in numerous private company boards and serves as a Director of the public company, Masonite. He also teaches Entrepreneurship at Rice University's Jones Graduate School of Business, and supports numerous charities. Jay is an Ernst & Young Entrepreneur of the Year, and has earned a Lifetime Achievement Award from the Houston Technology Center.     Listen to Kelly and Jay talk about company culture and the Great Resignation:How did Jay start his business, how did it grow, and how did he make a name for himself in the booming world of tech and entrepreneurship? Jay says he frequently tells entrepreneurs to “experiment without fear of failure.” Experimentation is necessary and key to evolving and growing any venture. When he began his company in the 90's, it was before even Amazon was born. He built his business one step at a time, and gave himself permission to fail. The idea of failure can be terrifying for small businesses because of the heavy stakes on the line. How does Jay advise small or startup businesses to experiment and take risks with confidence? What does Jay wish he'd known before he started his business in the 90's?  How did Jay approach hiring decisions while growing his business? How can business owners know when to expand hiring, even when finances are tight?  Did dynamics change when Jay sold his business to Home Depot? Jay shares how the transition went: the CFO said they'd expected him to get tired of them and quit after 90 days, but Jay stayed on for 7 years after the acquisition.   Jay explains the idea of business “love languages” and how to find harmony with team members of different strengths, disciplines, and personalities.  When Jay's company reached significant milestones over the years, how did they impact the company (and the way Jay ran the company)? Jay details his definition of success and the way it informs his strategic choices in both workplace culture and business operations.  Kelly asks Jay to describe the moments when he “felt” successful along the journey of growing his business. He shares he felt many of those moments over the years, though sometimes the impact of his success came to him retroactively.  As the head of a growing business, Jay says he often felt he was seen as intimidating or scary, which greatly bothered him because he genuinely wanted everyone's voice and feedback.  How does Jay feel employee's thoughts on their superiors plays into today's Great Resignation? What advice does he have for companies to make their management teams more approachable and receptive? Jay says what people want most is autonomy. Why not give more generosity to employees? More traction, more upward mobility? More transparent conversations?

Becker’s Healthcare Podcast
Christian Pass, Chief Financial Officer at John Muir Health

Becker’s Healthcare Podcast

Play Episode Listen Later Nov 29, 2021 15:14


This episode features Christian Pass, Chief Financial Officer at John Muir Health. Here, he discusses how John Muir Health got its name, solving challenging problems, the powerful voice of a CFO, and more.

Between Two COO's with Michael Koenig
True Ventures COO, Jim Stewart, on Taking Four Companies Public, Venture Capital Firm Operations, Keeping a Cool Head, and Export Controls

Between Two COO's with Michael Koenig

Play Episode Listen Later Nov 29, 2021 26:21


True Ventures Chief Operating Officer, Jim Stewart, on what it's like to take four companies public, what goes into the operations to run a venture capital firm, how to take calculated risks, and what to do when you realize that you've just violated US government export controls when you're doing an IPO roadshow (don't panic).True Ventures is a venture capital firm with an astonishing track record of investing in the best companies like Peleton, Fitbit, Ring, Duo Security, Automattic, and Sweetgreen, which just went public on the New York Stock Exchange.Jim initially joined True Ventures as CFO in 2012 and now leads all operations as the firm's COO. He brings substantial operational and financial experience to venture-backed tech and biotech companies. Jim has held numerous operating and CFO positions, leading four companies through their IPO processes. When he is not focused on operations, he's doing all sorts of high-octane activities like racing his Yamaha R6 motorcycle.Ben Horowitz's Book, The Hard Thing About Hard Things - https://www.amazon.com/Hard-Thing-About-Things-Building/dp/0062273205True Ventures - https://trueventures.comJim Stewart - https://www.linkedin.com/in/james-stewart-b1b10320/Episode Webpage - https://betweentwocoos.com/jim-stewart-true-ventures-coo Episode Transcript - https://betweentwocoos.com/jim-stewart-true-ventures-coo /#transcriptMichael Koenig - https://linkedin.com/in/mkoenig514

Business Lunch
How to Decide Which Type of Business to Buy

Business Lunch

Play Episode Listen Later Nov 29, 2021 15:10


If you're thinking about acquiring a business, pass it through this set of filters first.    Roland Frasier has bought—and sold—a lot of businesses over the course of his career. He knows what to look for, and what to stay away from, and he shares his expertise in this snackable episode.   Listen in for 9 things to consider when looking to acquire a business.    #1: Buy a profitable business.    Don't buy one that's in trouble and needs a turnaround. That's a whole different skill set and a lot of extra work. There are plenty of profitable businesses out there that you can acquire.   #2: Know if you want to work in, on, or above the business.   There are three places you can work when it comes to a business. You can work in it where you're doing all the work. You can work on it where you're more of a CEO/manager. Or you can work above it—Roland's choice—where you're thinking more of the business as a product or an investment. Where do you want to fit in the hierarchy?    If you want to be above, then you need to look for a business that's not owner-operated. But owner-operated businesses are more affordable and readily available. If you do decide to buy one, you look first at the owner who's selling. Maybe they don't want to leave the business entirely. Maybe they still want to work there; they just don't want to own it and have all the responsibilities.    If the owner wants to leave, and you don't want to be the operator, there's a good chance that there's someone in a managing role in the business (the CFO, CMO, COO, or CRO) who would like to run it. That's a good person to think about interviewing, because they already have the experience.   If not them, then maybe a key employee who has been there 15-20 years would love to step up into the role. Even if they're not qualified to do everything, you can hire someone to support them.   If not them, look at consultants or contractors the company has hired in the past for key roles. They have a long history and knowledge of the company.    The next level is to query your network, to ask around. If that doesn't work, you can hire a recruiting company.    #3: Stay away from industries with a lot of regulations.   If you want simplicity, steer clear away from these. If it's in the health space, and you don't have experience/credentials in the industry, stay away from it.    #4: Think about industries where you already have experience.   This will be very helpful and will give you a head start in growing your business.   #5: Consider an industry where you already have contacts or connections.   Do you have people who could advise or consult with you or connect you with people who could help?   #6: Find a business in an industry that's growing.   One of the best ways to grow a business is to find one in an industry that's already on a growth trajectory. A rising tide raises all ships.   #7: Find a business that's likely to last.    Don't buy a business that's just a fad, like a Y2K business. That's a very ephemeral industry. It's fleeting. It's not going to last long.   #8: Find a business you love.   If you're passionate about it, it will be way easier. Just make sure all the other qualifications apply too (no regulations, in a growing industry, likely to last, etc.).   #9: Find a business that doesn't require a lot of capital investment to keep it going.   An audio/visual business, for example, has a lot of technical equipment that has to be constantly updated. You'll spend a lot of money on things that depreciate quickly. If you can find a business that's simpler, and doesn't require that capital expenditure, go for that one instead.    RESOURCES: ethicallyprofit.com getepicchallenge.com Scalable.Co The Ready to Lead podcast DigitalMarketer Podcast Perpetual Traffic podcast   OUR PARTNERS: Get a free proposal from Conversion Fanatics Get 3% cash back on your ad spend with AdCard Get Roland's book, Zero Down, FREE

The Modern Therapist's Survival Guide with Curt Widhalm and Katie Vernoy
How to Be Accessible Beyond the Sliding Scale

The Modern Therapist's Survival Guide with Curt Widhalm and Katie Vernoy

Play Episode Listen Later Nov 29, 2021 33:42


How to Be Accessible Beyond the Sliding Scale An interview with Lindsay Bryan-Podvin, LMSW, about how therapy can be accessible (and not just financially). Curt and Katie chat with Lindsay about capitalism versus money exchange, the social enterprise model, and how therapists can make a good living without feeling like greedy capitalists. We also explore the many different types of accessibility and the importance of setting your fees based on your needs and values rather than as a mechanism to single-handedly fix the broken system or to meet an artificial money goal.     It's time to reimagine therapy and what it means to be a therapist. To support you as a whole person and a therapist, your hosts, Curt Widhalm and Katie Vernoy talk about how to approach the role of therapist in the modern age. Interview with Lindsay Bryan-Podvin, LMSW, Mind Money Balance Lindsay Bryan-Podvin (she/her) is a biracial financial therapist, speaker, and author of the book "The Financial Anxiety Solution." In her therapy practice, Mind Money Balance, she uses shame-free financial therapy to help people get their minds and money in balance. She's expanded her services to help private practice therapists with their money mindset, sustainable pricing, and authentic marketing so they can include financial self-care in their work. She lives with her partner and their dog on the traditional land of the Fox, Peoria, Potawatomi, and Anishinabewaki peoples also known as Michigan. In this episode we talk about: How therapy can be more accessible (and not just monetarily) The money “shit” that gets in the way of us thinking about other options for accessibility Decreasing stigma and the notion that therapy is by and for white folks Are we making our practices accessible for all sorts of folks? ADA compliance, supporting neurodivergent and disabled folks Cultural competence, the ability to apply that in sessions with clients who are different than us Being embedded in our communities Taking therapy out of the shadows The challenges in getting out and having a larger voice How accessibility is intertwined with therapist visibility How to become part of your community in effective and impactful ways Financial ways to make your practice more accessible beyond sliding scale Social Enterprise Model: intersection of what you do well, what values you stand for, and what can you get paid well to do Feeling like a greedy capitalist What it means to be paid well How to think about setting your fees Fee-setting based on what you need to survive and thrive (not capitalist principles) The problem with “know your worth” The big cognitive shift required to move from community mental health pricing and work-life balance, fees Tying money to quality of life, not specific monetary goals Getting to “enough” not more and more Capitalism versus money exchange The wealth of knowledge we have as therapists (and how therapists take it for granted and/or devalue it) Sharing your knowledge as a mechanism of accessibility to your whole community To practice self-care, you have to be able to afford it Our Generous Sponsor: Trauma Therapist Network Trauma is highly prevalent in mental health client populations and people are looking for therapists with specialized training and experience in trauma, but they often don't know where to start. If you've ever looked for a trauma therapist, you know it can be hard to discern who knows what and whether or not they're the right fit for you. There are so many types of trauma and so many different ways to heal. That's why Laura Reagan, LCSW-C created Trauma Therapist Network.  Trauma Therapist Network is a new resource for anyone who wants to learn about trauma and how it shows up in our lives. This new site has articles, resources and podcasts for learning about trauma and its effects, as well as a directory exclusively for trauma therapists to let people know how they work and what they specialize in, so potential clients can find them. Trauma Therapist Network therapist profiles include the types of trauma specialized in, populations served and therapy methods used, making it easier for potential clients to find the right therapist who can help them.  The Network is more than a directory, though. It's a community. All members are invited to attend community meetings to connect, consult and network with colleagues around the country. Join our growing community of trauma therapists and get 20% off your first month using the promo code:  MTSG20 at www.traumatherapistnetwork.com.   Resources mentioned: We've pulled together resources mentioned in this episode and put together some handy-dandy links. Please note that some of the links below may be affiliate links, so if you purchase after clicking below, we may get a little bit of cash in our pockets. We thank you in advance! www.mindmoneybalance.com https://www.instagram.com/mindmoneybalance/ Lindsay's podcast: Mind Money Balance   Relevant Episodes: Lindsay's previous podcast episode: Financial Therapy Katie Read: Therapists Shaming Therapists Negotiating Sliding Scale Making Access More Affordable Asking for Money Reimagining Therapy Reimagined   Connect with us! Our Facebook Group – The Modern Therapists Group  Our consultation services: The Fifty-Minute Hour Who we are: Curt Widhalm is in private practice in the Los Angeles area. He is the cofounder of the Therapy Reimagined conference, an Adjunct Professor at Pepperdine University and CSUN, a former Subject Matter Expert for the California Board of Behavioral Sciences, former CFO of the California Association of Marriage and Family Therapists, and a loving husband and father. He is 1/2 great person, 1/2 provocateur, and 1/2 geek, in that order. He dabbles in the dark art of making "dad jokes" and usually has a half-empty cup of coffee somewhere nearby. Learn more at: www.curtwidhalm.com Katie Vernoy is a Licensed Marriage and Family Therapist, coach, and consultant supporting leaders, visionaries, executives, and helping professionals to create sustainable careers. Katie, with Curt, has developed workshops and a conference, Therapy Reimagined, to support therapists navigating through the modern challenges of this profession. Katie is also a former President of the California Association of Marriage and Family Therapists. In her spare time, Katie is secretly siphoning off Curt's youthful energy, so that she can take over the world. Learn more at: www.katievernoy.com A Quick Note: Our opinions are our own. We are only speaking for ourselves – except when we speak for each other, or over each other. We're working on it. Our guests are also only speaking for themselves and have their own opinions. We aren't trying to take their voice, and no one speaks for us either. Mostly because they don't want to, but hey.   Stay in Touch: www.mtsgpodcast.com www.therapyreimagined.com Our Facebook Group – The Modern Therapist's Group https://www.facebook.com/therapyreimagined/ https://twitter.com/therapymovement https://www.instagram.com/therapyreimagined/   Credits: Voice Over by DW McCann https://www.facebook.com/McCannDW/ Music by Crystal Grooms Mangano http://www.crystalmangano.com/   Transcript (Autogenerated)   Curt Widhalm  00:00 This episode is sponsored by trauma therapist network.   Katie Vernoy  00:04 Trauma therapist network is a new resource for anyone who wants to learn about trauma and how it shows up in our lives. This new site has articles, resources and podcasts for learning about trauma and its effects, as well as a directory exclusively for trauma therapists to let people know how they work, and what they specialize in so potential clients can find them. Visit traumatherapistnetwork.com to learn more,   Curt Widhalm  00:27 listen at the end of the episode for more about the trauma therapist network.   Announcer  00:31 You're listening to the Modern Therapist's Survival Guide, where therapists live, breed and practice as human beings to support you as a whole person and a therapist. Here are your hosts, Curt Widhalm and Katie Vernoy.   Curt Widhalm  00:47 Welcome back modern therapists. This is the modern therapist Survival Guide. I'm Curt Widhalm, with Katie Vernoy. And this is the podcast for therapists about things that we do things that we don't do things that maybe we should do. And both Katie and our guests today are looking at me like, where is this going? And honestly, this is just one of those rambling intros that we have. So rather than making this more awkward, we're joined once again by Lindsey Bryan Podvin. She's been a guest to the show before spoken at therapy reimagined with us, talking to us about money and ways that we could be looking at it for our practice. So thank you for joining us again.   Lindsay Bryan-Podvin  01:35 Oh, yeah, I'm really happy to be here. This is my favorite thing to chat about, and to be in community with you guys. Again, it's fun.   Katie Vernoy  01:43 Oh, we're so glad to have you back. And we'll definitely link to your previous episode in our show notes. But for folks who haven't heard from you for a while, or for our new listeners, tell us who you are and what you're putting out into the world.   Lindsay Bryan-Podvin  01:57 Yeah, so as Curt mentioned, my name is Lindsay Bryan-Podvin. I'm a social worker, and financial therapist, and I have kind of two arms of what I'm putting out there into the world, I have my clinical arm, and then I have my consulting arm. So in my clinical world, I'm doing financial therapy, which is helping clients with the emotional and psychological side of money, which spoiler alert is all of it, I think. And then, on the consulting side, I know you all know that therapists have money, shit, and we have a lot of hang ups about it. And so in my consulting arm, I help mostly other therapists, though, over the past year, I'll say that other kind of helping professionals have woven their way in, whether it's dietitians, acupuncturist, Reiki healers, because I think a lot of us get similar messaging about what money is and what it isn't. And so I help them work on their emotional and psychological relationship with money so they can have sustainable and profitable businesses. And I do, like outside of the the hands on work, or the zoom work, I suppose I have a podcast and Instagram, a pretty active blog and an email list that keeps me using my creative side of my brain.   Katie Vernoy  03:13 Nice. I love it.   Curt Widhalm  03:15 One of the big discussions that's been in the social justice aspects of our field, especially for private practitioners, and admittedly also here on our show, is talking about things like accessibility and being able to make our services go beyond just those top paying cash pay clients. Can you walk us through kind of what you hear in these discussions about accessibility for practices, and especially as it relates to some of these monetary issues?   Lindsay Bryan-Podvin  03:50 Yeah, I think as therapists we get really stuck on accessibility being only a monetary issue. So we think about solving for that problem by sliding our scale or by offering pro bono spaces. But we forget about all the other ways in which we can and should be accessible if that works in alignment with us. So as I think you guys were talking with Katie read about like the the the money talk that comes up on therapists forums and how there's so much guilt and shame and, and judgment about what people do or don't do, whether they do or don't take insurance, whether they do or don't slide their scale, but that's where most of us get stuck. And there are so many things beyond sliding our scale and the fee that we charge that can bring about accessibility for our practices and in our communities.   Katie Vernoy  04:45 What are some of the things that we can think about beyond sliding scale because I think I get stuck there as well with and maybe this is just our focus is that we're so focused on the monetary aspects and our own money shit as you described it, and We aren't thinking about what else isn't making us accessible.   Lindsay Bryan-Podvin  05:03 Yeah, I think taking a few steps back before a client even finds our website or finds us on a therapist directory, really thinking about how can we make our field more accessible by talking about what is therapy, I think in a lot of communities, we still have these stigmas that therapy is buy in for white people. And it's done on a couch with, you know, a person who's got reinforced elbows and they're smoking a pipe, right? You know, like, we have that imagery. And if we are not talking to our communities about what therapy is and who it is for, and how it can be helpful by not just talking about what it is, but also the stigma reduction, we don't even get people landing on our websites or knocking on our, you know, figurative door, right. So being in our communities and talking about what it is and who it's for, and how it can be helpful. And also talking about just the ins and outs of therapy, that it is confidential. I think in a lot of communities, there's a fear that if I go to a therapist, then you know, my mom's cousins going to find out about it, or that my employer will be told about it, or that my partner will be told about it. So I think there's some education that has to happen on the backend before people even get to our doors. And then in terms of other measures of accessibility outside of this scale. Let's get really granular on on what is accessibility? Do our clients see themselves reflected in the way that we practice therapy? Can clients who have disabilities, either neurodiversity or physical limitations, do they have actual access to our offices? Are they ADA compliant? Do we offer you know, nowadays, so many of us offer basically zoom therapy? Which makes it so much more accessible? Are we operating on bus routes and public transportation? Is there easy parking, like the literal accessibility piece? And then the cultural competency piece? Can they speak my language? If I don't speak English? Do I have somebody sitting across from me in the therapy room? Who gets what I'm talking about? When we talk about cultural competence? Not just thinking about, you know, whether or not you took a class on Southeast Asian Studies. But what does that mean? And how does that show up in our spaces, and being embedded in our community beyond just like, hiding in this little bubble, where we're kind of shrouded in mystery, I think, taking therapy out of the shadows and making it more commonplace in our communities, like we are healers in our communities. And we shouldn't be hiding behind the walls of like mystery what when there are community events, I would love to see more therapists out and they're out and about, as sponsors, as networkers and things like that, like, we also have to take ourselves out of the shadow. So there's, there's a lot of different ways we can talk about accessibility.   Curt Widhalm  07:59 So I love what you're saying, I completely agree with getting out there. There's some some stumbling steps that can happen in putting ourselves out there, because so much of our history is in being shrouded to the, you know, the shadows. And sometimes the responses that I hear from clinicians is, oh, that person went out and was talking about this, but didn't represent themselves. Well, it isn't representing the field. Well, do you have any advice as far as taking some of these steps? You know, look at you, and all of the things that you post in your newsletters and social media and this kind of stuff, money seems to be kind of like a fairly neutral ground as far as being able to talk about relationships with money. For those who are looking to maybe take some other steps as far as making this accessibility happen, that might be around more unique issues to communities. Do you have any suggestions on how people might find the confidence to be able to make those steps?   Lindsay Bryan-Podvin  09:03 Yeah, I really like this question. Because I think that accessibility and visibility are are intertwined. And visibility isn't just social media. So let's say you do want to be more accessible in your community and you do want to be more visible in your community, but you're talking about something that is more sensitive, like you know, sexual trauma, then yeah, maybe going on in doing an Instagram live about it isn't probably the most appropriate way because you don't know who's on the other side of it, you really can't create a container of people to make sure that it's safer or at least safer. So maybe in that instance, it's going to, you know, a high school and pulling a you know, having a group of 30 kids that you are talking to about this in like a speaking engagement setting or maybe it is going to the healthcare system and sitting down and talking to the medical social workers about what you know, or to the nurse midwives about what you know, right there. Different ways to get out and become a part of the community that don't involve these kind of one way one sided communication methods. Does that make sense?   Katie Vernoy  10:11 It does, I think this idea of making the whole profession more accessible to folks and all folks, and not just the kind of historical white people and the, the, the patches and the pipes. I think that to me is, it's really, really important. And I think it also is only a first step. Because when they get to our door is there still is I think, you know, financial accessibility concerns for a lot of folks. And so are there financial ways to be accessible that don't involve involves sliding your scale?   Lindsay Bryan-Podvin  10:48 Yeah, of course. So, undoubtedly, money is a real accessibility issue. I'm not just saying like, Oh, you know, just get out there. That's it sounds it? All. Right, exactly. Exactly. An email newsletter is not going to fix accessibility. But as you guys have also talked about on this podcast, it's not the responsibility of an individual therapist, to fix the broken medical system salute here. And at the same time, there are more creative ways to provide services to people in your community that are might be easier on their pocketbooks. So group therapy is also a really great option, because you as the clinician are still generating the revenue that you need to, and the people on the other side are usually paying you less dollars per session. Insurance, I know there's a big again, it's not your job to accept insurance if they don't reimburse you well, but accepting insurance is a measure of accessibility. And even if you aren't accepting insurance, helping your clients out, walking them through what a super bill is, you know, spending a little bit of time in session, making sure that they know what that means and how to actually get it done. That, to me is incredibly helpful. So providing a bit of space in the in the session to talk through how you can do that, particularly if they have anxiety, or they've got some ADHD, you know, they might need a little extra hand holding to get those things done. There are depending on your licensing board, I've seen some people do sponsored therapy spot. So it's a little bit different than a pro bono. It's Think of it like a scholarship for therapy. So the way that I've seen this work is for clients who pay a full fee, you essentially tell them look by you paying a full fee, a portion of your fee goes towards sponsoring somebody who would not be able to afford therapy with me. So you're still getting income, but you're also having the clients who are able to pay your fee, kind of some buy in that they are also kind of helping out other people in the community. So those are some different ways to be accessible, that don't involve sliding your scale doesn't mean you have to do all or any of them. It's just different ways to think about it.   Curt Widhalm  13:04 On of the things that you talked about in your presentation at the therapy reimagined conference, this social enterprise.   Lindsay Bryan-Podvin  13:12 Yes.   Curt Widhalm  13:14 Can you tell us more about that, what it means for people who maybe didn't attend the conference and what the social enterprise model is and how this might fit in for therapists?   Lindsay Bryan-Podvin  13:24 Yeah, I think so many therapists struggle with this idea of charging for services because we've internalized so many things about what money is or what it isn't. And the social enterprise model essentially says, look, there are three things to provide something that you can feel good about doing. And also know that you are being compensated fairly for it. And it exists at the intersection of these three things. One, what do you do well, what values do you stand for? And what can you be paid? Well to do, and as therapists I think, if we can think about ourselves at the intersection of that, of existing, and I do this really well, these are in alignment with my values, this type of therapeutic intervention is in alignment with my values, and I can be paid well to do that. You know, that you are contributing to the greater good of the community by making sure that you're not just wringing out your clients for the most dollars you can get right? I think so many of us think that if I charge money, then I'm a greedy capitalist, but it's also about am I being compensated for the skills that I offer and the transformations that I'm able to help facilitate in a meaningful way?   Katie Vernoy  14:41 I know that there are a lot of different perspectives on how you decide how much money to wring out of your client. And, and and you mentioned the episode with Katie Read and we've had other conversations as well, just about the shoulds. And you know, how I should set my fees and those types of things. Yeah, and to me, it feels like there's so much nuance. It's it's a wide open space, there's a lot of shit. So people feel like it's not wide open, but I feel like it really is. What advice do you have on on setting those fees? Because when we're in that space where I can be paid well for it, it's aligned with my values, and I can do it well, like, it can be hard to figure out like, and what does being paid? Well mean, that I can feel good about?   Lindsay Bryan-Podvin  15:30 Yeah. And I think that's such a good question. Because this idea of what does it mean to be paid? Well, is so skewed in our field, my first job, I was making $32,000, you know, with a master's degree, and I don't think that's an unfamiliar number or salary for people to hear. And so when a lot of people go into private practice, they hold themselves to that standard, oh, well, I was making 40k or 50k. I think that's a reasonable salary. I think that's what I'll try to make. So we haven't thought beyond what do we actually need to survive and thrive. And that's where doing things in alignment with your values can be really beneficial. So when it comes to fi setting, you're not just thinking about what are you charging your clients? You're also thinking about? Does that fee sustain me and allow me to practice financial self care? Which means Can I take care of my financial needs? Yes, but do Am I also able to support my mental, my emotional and my spiritual self. With that? I know, I was, I was loving your episode on burnout. And I love the modeling that the two of you did by saying, Look, we're going to hit pause on the therapy reimagine conference, we also have to build in time off and time for restoration, there is a study that says we need, I think, oh, shoot, I'm going to botch it. Now. I think it's eight or 10 consecutive days off in a row to actually unplug from work. So making sure that you have that built in to your time off. So making sure it covers your time off making sure it covers your health insurance. Unfortunately, we live in a society where your healthcare is tied with your employment. So when you're self employed, you have to make sure that you can cover your health insurance, you have to also make sure that you're thinking about your future self in traditional employment, we often have access to retirement plans or programs. And when we move into entrepreneurship, we are our own 401k or four, three B plan. So we have to make sure that all of those things are taken into account. And we don't want to be overworking ourselves. When we show up exhausted and burnt out and watching the clock, we are not being good clinicians we just aren't. And just taking stock of our own energy, my full pre pandemic was 18, I could comfortably see 18 clients a week that felt like a good fit for me, I wasn't burnt out, I wasn't presenting my clients, I had downtime to get the things done, I needed to do and I charged accordingly. Now, my max is 12. I have found that doing zoom therapy. While there are so many advantages of it, like I genuinely really like it, I find that literally the physicality of sitting still and staring at my screen and just what really watching so much harder for nuances through the screen takes so much more energy out of me and I can no longer comfortably and competently feel like I'm a good practitioner when I'm seeing 18 clients when I've had to scale that back to 12. And then what do I have to do to make up for that income? So that was a long answer of saying it depends. You have to figure out what money you need to be bringing in and you need to make sure that you're not just thinking about comparing it to what you use to earn an agency job because you were likely being underpaid there.   Katie Vernoy  18:47 It's hard not to feel like a greedy capitalist. With that it means you have to charge a premium fee mostly   Lindsay Bryan-Podvin  18:56 Yeah, yeah.   Curt Widhalm  18:59 Give me advice for people making that jump to those premium price because I'm sure that there's a lot of our listeners who might be considering leaving an agency job and being like, you know, I know you know my session value in this agency and this aligns maybe with my values but in going out and charging somebody three four or five times that fee in order to meet my money goals seems like it has a lot of opportunity to bring up some that imposter syndrome and really being able to balance that for those individuals you have any guidance on what to really look at hopefully beyond just kind of know your worth.   Lindsay Bryan-Podvin  19:43 Yeah. Oh my god. Thank you for saying that because also the Know your worth thing. That's a trope I used to find myself repeating. And then a friend of mine who's a behavioral economist, she shared with me Jaquette Timmons and she's goes Lindsay You have to stop saying that because we as humans We don't have a worth. So instead, she invited me to reframe it as charged the value of what your services are worth to give yourself a little bit of psychic distance there between like, I'm worth $300. Now it's like no, the value of my services are worth $300 an hour. So anyway, tangent aside, how can you come into charging fees for your services, I think there is a pendulum swing that I see happen when people try to get out of the mentality of sliding their scale as low as possible to charging premium fees. And so they go from being in spaces where being a good therapist means charging very little into spaces that are like, You need to be a six, seven figure business owner, and you need to be charging premium fees, which can be as we know, a big jump cognitively. And so I always invite people to come back to your values, your lifestyle needs, your unique financial goals. And I'm not about bashing the people who are saying, Oh, you need to make six figures or seven figures. My practice does generate six figures. But I don't think that is a magical goalposts where all your problems are suddenly solved. I think this chase this money charge, the premium fees, you have to work more can backfire. In that it forces us to work more meaning when you have that mentality of I have to work harder, I have to chase this x figure goal or this premium fee number. What happens often is you get into this space where I'll just use myself for an example that that 12 clients Oh, I saw 12 clients a week, I made enough money to hit my goals. I started to cultivate work life balance. But now what if I saw twice as many people, I could make twice as much money? What could I do it twice as much money. And then all of a sudden you forget about why you did it in the first place. So coming back to how much do I need? How much do I desire and is the money that I'm charging, allowing me to do things in alignment with my values, let's say family is like the most important value to me. And I want my 10 consecutive days off in a row with my family. And I want to go somewhere where I don't have to worry about you know, finding activities for us to do or cooking a bunch of food, I want to make sure that I have enough money to pay for that Airbnb to pay for takeout and that Airbnb is conveniently located to a lot of like outdoor activities. That's a goal that I can kind of reverse engineer my way. And to me, it's also modeling for your clients, you don't necessarily have to say to your client, like, Oh, my financial goal was this, this and this, and I was able to achieve it. But you're also modeling for your clients the importance of taking time off of adhering to your boundaries and practicing self care. So again, that's a tangent of an answer. But I guess the long and short of it is as you move towards charging premium fees come back to like, what your WHY IS, and when you feel that anxiety to work more and charge more and go harder, you actually may already have enough.   Katie Vernoy  23:02 I like that I think the piece that resonates for me is this, the letting go of I must get to this number, I must make more money. And I think for me, there's also this big push of like we must leverage we must, we must continue to grow and expand. And I think there's a point at which we have enough I mean, there, there may still be challenges that we need to do. But there's this, this freedom and not having to constantly grow and, and make my business bigger and make my business more successful. Like there's each person has to decide where they land or where they land for a time and you know, different seasons of what I need and what I want and what's most important to me, but it feels like it and this is kind of circling back to the the social enterprise model and kind of this idea of capitalism versus money exchange and, you know, clarifying all of that, but but it seems like when it's completely tied to values, what you're positing is that feels better than just making money for money's sake. And so, so tell us a little bit more about this. Because to me, I feel like I'm just starting to grasp the idea I was I was too caught up in the greedy capitalism, to understand kind of what what we were what we were starting to talk about with a social enterprise model.   Lindsay Bryan-Podvin  24:24 Yeah. So to bounce off of this idea of what is the difference between capitalism and money exchange? I think it's important to note that capitalism is a is a political economic system that we we know the dangers of right it is propped up by the unpaid and underpaid labor. So the person or people who are in charge, get the greatest amount of profit available. And as such, as we kind of touched on earlier, it's a system where we give all the praise to the people who Make a lot of money because they must have worked hard and simultaneously shamed the people who didn't make a lot of money because they must have not been hard workers. And we've we bought into that idea as a society so much so that you know, at the time that we're recording this, if you're on Twitter right now, you can see people rallying around Elon Musk saying like, yeah, he shouldn't have to pay taxes, he worked really hard. So we've got all these people saying, like, yeah, we save the billionaires instead of let's make sure we have a safety net that people can't fall through for the greater good of our society. So that's capitalism. And there's a lot of problems with it. And even if you disagree with it, unfortunately, we live in that society. Yeah. And money exchange, on the other hand has been around since the dawn of time, whether it was literal dollars or coins, there has always been an exchange of things for other things, or things or other services. And when we think about small business owners, which is most private practice owners, if we can think about ourselves as kind of the community farmstand, it helps to shift that mentality. So for example, if I go down to the farmers market, and I purchased a half a dozen eggs, I'm helping to support sustainable agriculture in my community, I get to know the person who grew my crew, my eggs, I don't think we're growing eggs, but you don't I mean, maybe if you're vegan, actually, you're growing your eggs. So you're growing your eggs substitutes? Got it? So we want to think about as therapists, how can we kind of fit into that model, where what we do in charging for services, and helping people in our community is a win win. Because when we have a healthier person in our community, because we are helping them with their mental health, what is that ripple effect on the community? And how can that be beneficial?   Curt Widhalm  26:57 It sounds like, you know, this is what a lot of practitioners do by going out into the community and sharing even some of the things that you were talking about at the top of the episode of just going and talking about mental health and about their practices and doing some, I guess, pro bono work and in the way of psychoeducation, or community education that helps to make that Win Win happen.   Lindsay Bryan-Podvin  27:25 Yeah. Yeah, absolutely. I think it's so so powerful. I think when we are in our spaces where we're surrounded by other mental health, folks, we forget what the baseline is of mental health knowledge. Oh, yeah, forget, just like what a wealth of information we have, like the other day, I did a presentation for non mental health care providers about what financial anxiety is, and tips to cope with it right. And for anybody in the therapy field, they'd be like, that's like, entry level CBT, maybe if you're lucky. But for this group of people, it wasn't that they don't, it's just we forget how much knowledge we have, and how valuable explaining some basics of how our minds and bodies and thoughts are connected, can be a huge value for other people in our community. So just don't take what your knowledge is for granted. Get out of your academic kind of echo chambers and go talk to people who aren't in the mental health care field. And that is really where you can offer a lot of wisdom and value in your community.   Curt Widhalm  28:33 So once again, echoing stop hanging out with therapists.   Lindsay Bryan-Podvin  28:41 That might be a theme. Yeah.   Katie Vernoy  28:44 Maybe it's stopped just hanging out with therapists   Lindsay Bryan-Podvin  28:47 That's a good reframe  Katie   Katie Vernoy  28:49 I know, I just it's really hard. I know, for me, and we've all spoken for therapists, we've all kind of done that thing. And I'm sure, just from the way you described it, Lindsay, you've got the thing. Like, that was a really nice reminder. And like, it is so dismissive. When a therapist comes up and says that to you, you're like, Yeah, but why did you need that reminder? You know, so I think it's that piece of when you start talking to folks who are not therapists, you recognize this is really important information. And it's not going to be discarded as Oh, I already knew that because it is this new piece that's coming in, that then allows, and this is, I guess, going to do accessibility thing. It allows this information to be disseminated more widely widely. It's something where they then are able to implement it, and maybe some people wouldn't need therapy if this information are readily available and was there first and so I think I'm putting the pieces together, Lindsay, I'm starting to see but it's it's really sharing the knowledge. It's making sure that you're available and that you've set up a fee system that makes sense for the folks that you're Working with but it's, it's this additional piece of you know, maybe you get creative and you do sponsorships or I mean there's people that have whole mechanisms for nonprofits to donate for, for scholarships for therapy. So I, there's, there's so much creativity that doesn't require an individual to slide their scale to an unsustainable fee. But this notion of just be accessible for all with all of these other pieces, I think is is hard to do. If you're not making enough money to survive, and you're seeing 40 clients a week,   Lindsay Bryan-Podvin  30:33 Ding ding ding that is exactly it. We cannot care for other people in our community when we don't take care of ourselves. And it's, you know, we hammer on this message as therapists but we forget that in order to practice self care, we need to be able to fucking afford it. Like we just do.   Katie Vernoy  30:48 Yeah, exactly.   Curt Widhalm  30:52 And it's not just kind of the big luxurious, affording things like yeah, you know, that eight to 10 days, go and do a vacation if that's your jam, but it's also being able to afford the consistent little things of and you know, it's going home at a decent time of night. It's being you know, not spending your your off hours catching up on notes, or it's having all of the other systems and everything else that we've talked about on this podcast of being able to have the convenience of being able to afford shutting off at each and every day.   Lindsay Bryan-Podvin  31:30 Yeah, absolutely in in those are the things that we know, make. The biggest difference is that consistency and that predictability, that predictability that you can power down the predictability that you can pay your bills that helps to give us that mental space to rest and to be safe.   Katie Vernoy  31:51 Where can people find you?   Lindsay Bryan-Podvin  31:53 My website is called Mind money balance. It's the same name as my practice. My podcast is of the same name. My Instagram handle is of the same name so people can find me on any of those places.   Curt Widhalm  32:08 And we'll include links to Lindsay's stuff in our show notes. You can find those over at MCSG podcast calm and also follow us on our social media and join our Facebook group, the modern therapist group. And until next time, I'm Curt Widhalm with Katie Vernoy And Lindsey Bryan-Podvin.   Katie Vernoy  32:26 Thanks again to our sponsor, trauma therapist network.   Curt Widhalm  32:30 If you've ever looked for a trauma therapist, you can know it can be hard to discern who knows what and whether or not they're the right fit for you. There's so many types of trauma and so many different ways to heal. That's why Laura Reagan LCSW WC created trauma therapist network. Trauma therapist network therapist profiles include the types of traumas specialized in population served therapy methods used, making it easier for potential clients to find the right therapist who can help them. Network is more than a directory though it's a community. All members are invited to attend community meetings to connect, consults, and network with colleagues around the country.   Katie Vernoy  33:07 Join the growing community of trauma therapists and get 20% off your first month using the promo code MTSG 20 at traumatherapistnetwork.com Once again that's capital MTS G the number 20 at Trauma therapist network.com   Announcer  33:23 Thank you for listening to the modern therapist Survival Guide. Learn more about who we are and what we do at mtsgpodcast.com. You can also join us on Facebook and Twitter. And please don't forget to subscribe so you don't miss any of our episodes.

Daily Crypto Report
"Tanzania plans CBDC" November 27, 2021

Daily Crypto Report

Play Episode Listen Later Nov 27, 2021 2:53


Today's blockchain and cryptocurrency news Brought to you by ungrocery.com Bitcoin is up .5% at $54,891 Ethereum is up .5% at $4,132 and Binance Coin is up 1% at $605 The Graph up 16% Render Token up 20% Ankr Network up 28% Celsius Network suspends employee — possibly CFO. Bank of Tanzania plans CBDC. Avocado Guild raises $18M.

CFO Bookshelf
Bolanle Williams-Olley is Far More Than a Superstar CFO

CFO Bookshelf

Play Episode Listen Later Nov 27, 2021 44:28


Bolanle (Bola) Williams-Olley took a circuitous route to her CFO position and also received much help along the way. Now she's doing what she can to help others in becoming the best version of themselves.Bola is also the author of Build Boldy where she tells the story of starting her accounting career with a math background in the architectural industry.Today, she is the CFO for the architectural design firm, Mancini Duffy where she is also a part-owner.

Screaming in the Cloud
The “Banksgiving” Special with Tim Banks

Screaming in the Cloud

Play Episode Listen Later Nov 25, 2021 34:54


About TimTim's tech career spans over 20 years through various sectors. Tim's initial journey into tech started as a US Marine. Later, he left government contracting for the private sector, working both in large corporate environments and in small startups. While working in the private sector, he honed his skills in systems administration and operations for large Unix-based datastores. Today, Tim leverages his years in operations, DevOps, and Site Reliability Engineering to advise and consult with clients in his current role. Tim is also a father of five children, as well as a competitive Brazilian Jiu-Jitsu practitioner. Currently, he is the reigning American National and 3-time Pan American Brazilian Jiu-Jitsu champion in his division.TranscriptCorey: Hello, and welcome to Screaming in the Cloud with your host, Chief cloud economist at The Duckbill Group, Corey Quinn. This weekly show features conversations with people doing interesting work in the world of cloud, thoughtful commentary on the state of the technical world, and ridiculous titles for which Corey refuses to apologize. This is Screaming in the Cloud.Corey: This episode is sponsored in part by our friends at Vultr. Spelled V-U-L-T-R because they're all about helping save money, including on things like, you know, vowels. So, what they do is they are a cloud provider that provides surprisingly high performance cloud compute at a price that—while sure they claim its better than AWS pricing—and when they say that they mean it is less money. Sure, I don't dispute that but what I find interesting is that it's predictable. They tell you in advance on a monthly basis what it's going to going to cost. They have a bunch of advanced networking features. They have nineteen global locations and scale things elastically. Not to be confused with openly, because apparently elastic and open can mean the same thing sometimes. They have had over a million users. Deployments take less that sixty seconds across twelve pre-selected operating systems. Or, if you're one of those nutters like me, you can bring your own ISO and install basically any operating system you want. Starting with pricing as low as $2.50 a month for Vultr cloud compute they have plans for developers and businesses of all sizes, except maybe Amazon, who stubbornly insists on having something to scale all on their own. Try Vultr today for free by visiting: vultr.com/screaming, and you'll receive a $100 in credit. Thats v-u-l-t-r.com slash screaming.Corey: This episode is sponsored in part by something new. Cloud Academy is a training platform built on two primary goals. Having the highest quality content in tech and cloud skills, and building a good community the is rich and full of IT and engineering professionals. You wouldn't think those things go together, but sometimes they do. Its both useful for individuals and large enterprises, but here's what makes it new. I don't use that term lightly. Cloud Academy invites you to showcase just how good your AWS skills are. For the next four weeks you'll have a chance to prove yourself. Compete in four unique lab challenges, where they'll be awarding more than $2000 in cash and prizes. I'm not kidding, first place is a thousand bucks. Pre-register for the first challenge now, one that I picked out myself on Amazon SNS image resizing, by visiting cloudacademy.com/corey. C-O-R-E-Y. That's cloudacademy.com/corey. We're gonna have some fun with this one!Corey: Welcome to Screaming in the Cloud. I am Cloud Economist Corey Quinn joined by Principal Cloud Economist here at The Duckbill Group Tim Banks. Tim, how are you?Tim: I'm doing great, Corey. How about yourself?Corey: I am tickled pink that we are able to record this not for the usual reasons you would expect, but because of the glorious pun in calling this our Banksgiving episode. I have a hard and fast rule of, I don't play pun games or make jokes about people's names because that can be an incredibly offensive thing. “And oh, you're making jokes about my name? I've never heard that one before.” It's not that I can't do it—I play games with language all the time—but it makes people feel crappy. So, when you suggested this out of the blue, it was yes, we're doing it. But I want to be clear, I did not inflict this on you. This is your own choice; arguably a poor one. We're going to find out.Tim: 1000% my idea.Corey: So, this is your show. It's a holiday week. So, what do you want to do with our Banksgiving episode?Tim: I want to give thanks for the folks who don't normally get acknowledged through the year. Like you know, we do a lot of thanking the rock stars, we do a lot of thanking the big names, right, we also do a lot of, you know, some snarky jabs at some folks. Deservingly—not folks, but groups and stuff like that; some folks deserve it, and we won't be giving them thanks—but some orgs and some groups and stuff like that. And I do think with that all said, we should acknowledge and thank the folks that we normally don't get to, folks who've done some great contributions this year, folks who have helped us, helped the industry, and help services that go unsung, I think a great one that you brought up, it's not the engineers, right? It's the people that make sure we get paid. Because I don't work for charity. And I don't know about you, Corey. I haven't seen the books yet, but I'm pretty sure none of us here do and so how do we get paid? Like I don't know.Corey: Oh, sure you have. We had a show on a somewhat simplified P&L during the all hands meeting because, you know, transparency matters. But you're right, those are numbers there and none of that is what we could have charged but didn't because we decided to do more volunteer work for AWS. If we were going to go down that path, we would just be Community Heroes and be done with it.Tim: That's true. But you know, it's like, I do my thing and then, you know, I get a paycheck every now and then. And so, as far as I know, I think most of that happens because of Dan.Corey: Dan is a perfect example. He's been a guest on this show, I don't know it has as aired at the time that this goes out because I don't have to think about that, which is kind of the point. Dan's our CFO and makes sure that a lot of the financial trains keep running on time. But let's also be clear, the fact that I can make predictions about what the business is going to be doing by a metric other than how much cash is in the bank account at this very moment really freed up some opportunity for us. It turned into adult supervision for folks who, when I started this place and then Mike joined, and it was very much not an area that either one of us was super familiar with. Which is odd given what we do here, but we learned quickly.The understanding not just how these things work—which we had an academic understanding of—but why it mattered and how that applies to real life. Finance is one of those great organizations that doesn't get a lot of attention or respect outside of finance itself. Because it's, “Oh, well they just control the money. How hard could it be?” Really, really hard.Tim: It really is. And when we dig into some of these things and some of the math that goes and some of what the concerns are that, you know, a lot of engineers don't really have a good grasp on, and it's eye opening to understand some of the concerns. At least some of the concerns at least from an engineering aspect. And I really don't give much consideration day to day about the things that go on behind the scenes to make sure that I get paid.But you look at this throughout the industry, like, how many of the folks that we work with, how many folks out there doing this great work for the industry, do they know who their payroll person is? Do they know who their accountant team is? Do they know who their CFO or the other people out there that are doing the work and making sure the lights stay on, that people get paid and all the other things that happen, right? You know, people take that for granted. And it's a huge work and those people really don't get the appreciation that I think they deserve. And I think it's about time we did that.Corey: It's often surprising to me how many people that I encounter, once they learn that there are 12 employees here, automatically assume that it's you, me, and maybe occasionally Mike doing all the work, and the other nine people just sort of sit here and clap when I tell a funny joke, and… well, yes, that is, of course, a job duty, but that's not the entire purpose of why people are here.Natalie in marketing is a great example. “Well, Corey, I thought you did the marketing. You go and post on Twitter and that's where business comes from.” Well, kind of. But let's be clear, when I do that, and people go to the website to figure out what the hell I'm talking about.Well, that website has words on it. I didn't put those words on that site. It directs people to contact us forms, and there are automations behind that that make sure they go to the proper place because back before I started this place and I was independent, people would email me asking for help with their bill and I would just never respond to them. It's the baseline adult supervision level of competence that I keep aspiring to. We have a sales team that does fantastic work.And that often is one of those things that'll get engineering hackles up, but they're not out there cold-calling people to bug them about AWS bills. It's when someone reaches out saying we have a problem with our AWS spend, can you help us? The answer is invariably, “Let's talk about that.” It's a consultative discussion about why do you care about the bill, what does success look like, how do you know this will be a success, et cetera, et cetera, et cetera, that make sure that we're aimed at the right part of the problem. That's incredibly challenging work and I am grateful beyond words, I don't have to be involved with the day-in, day-out of any of those things.Tim: I think even beyond just that handling, like, the contracts and the NDAs, and the various assets that have to be exchanged just to get us virtually on site, I've [unintelligible 00:06:46] a couple of these things, I'm glad it's not my job. It is, for me, overwhelmingly difficult for me to really get a grasp and all that kind of stuff. And I am grateful that we do have a staff that does that. You've heard me, you see me, you know, kind of like, sales need to do better, and a lot of times I do but I do want to make sure we are appreciating them for the work that they do to make sure that we have work to do. Their contribution cannot be underestimated.Corey: And I think that's something that we could all be a little more thankful for in the industry. And I see this on Twitter sometimes, and it's probably my least favorite genre of tweet, where someone will wind up screenshotting some naive recruiter outreach to them, and just start basically putting the poor person on blast. I assure you, I occasionally get notices like that. The most recent example of that was, I got an email to my work email address from an associate account exec at AWS asking what projects I have going on, how my work in the cloud is going, and I can talk to them about if I want to help with cost optimization of my AWS spend and the rest. And at first, it's one of those, I could ruin this person's entire month, but I don't want to be that person.And I did a little LinkedIn stalking and it turns out, this looks like this person's first job that they've been in for three months. And I've worked in jobs like that very early in my career; it is a numbers game. When you're trying to reach out to 1000 people a month or whatnot, you aren't sitting there googling what every one of them is, does, et cetera. It's something that I've learned, that is annoying, sure. But I'm in an incredibly privileged position here and dunking on someone who's doing what they are told by an existing sales apparatus and crapping on them is not fair.That is not the same thing as these passive-aggressive [shit-tier 00:08:38] drip campaigns of, “I feel like I'm starting to stalk you.” Then don't send the message, jackhole. It's about empathy and not crapping on people who are trying to find their own path in this ridiculous industry.Tim: I think you brought up recruiters, and, you know, we here at The Duckbill Group are currently recruiting for a senior cloud economist and we don't actually have a recruiter on staff. So, we're going through various ways to find this work and it has really made me appreciate the work that recruiters in the past that I've worked with have done. Some of the ones out there are doing really fantastic work, especially sourcing good candidates, vetting good candidates, making sure that the job descriptions are inclusive, making sure that the whole recruitment process is as smooth as it can be. And it can't always be. Having to deal with all the spinning plates of getting interviews with folks who have production workloads, it is pretty impressive to me to see how a lot of these folks get—pull it off and it just seems so smooth. Again, like having to actually wade through some of this stuff, it's given me a true appreciation for the work that good recruiters do.Corey: We don't have automated systems that disqualify folks based on keyword matches—I've never been a fan of that—but we do get applicants that are completely unsuitable. We've had a few come in that are actual economists who clearly did not read the job description; they're spraying their resume everywhere. And the answer is you smile, you decline it and you move on. That is the price you pay of attempting to hire people. You don't put them on blast, you don't go and yell at an entire ecosystem of people because looking for jobs sucks. It's hard work.Back when I was in my employee days, I worked harder finding new jobs than I often did in the jobs themselves. This may be related to why I get fired as much, but I had to be good at finding new work. I am, for better or worse, in a situation where I don't have to do that anymore because once again, we have people here who do the various moving parts. Plus, let's be clear here, if I'm out there interviewing at other companies for jobs, I feel like that sends a message to you and the rest of the team that isn't terrific.Tim: We might bring that up. [laugh].Corey: “Why are you interviewing for a job over there?” It's like, “Because they have free doughnuts in the office. Later, jackholes.” It—I don't think that is necessarily the culture we're building here.Tim: No, no, it's not. Specially—you know, we're more of a cinnamon roll culture anyways.Corey: No. In my case, it's one of those, “Corey, why are you interviewing for a job at AWS?” And the answer is, “Oh, it's going to be an amazing shitpost. Just wait and watch.”Tim: [laugh]. Now, speaking of AWS, I have to absolutely shout out to Emily Freeman over there who has done some fantastic work this year. It's great when you see a person get matched up with the right environment with the right team in the right role, and Emily has just been hitting out of the park ever since he got there, so I'm super, super happy to see her there.Corey: Every time I get to collaborate with her on something, I come away from the experience even more impressed. It's one of those phenomenal collaborations. I just—I love working with her. She's human, she's empathetic, she gets it. She remains, as of this recording, the only person who has ever given a talk that I have heard on ML Ops, and come away with a better impression of that space and thinking maybe it's not complete nonsense.And that is not just because it's Emily, so I—because—I'm predisposed to believe her, though I am, it's because of how she frames it, how she views these things, and let's be clear, the content that she says. And that in turn makes me question my preconceptions on this, and that is why she has that I will listen and pay attention when she speaks. So yeah, if Emily's going to try and make a point, there's always going to be something behind it. Her authenticity is unimpeachable.Tim: Absolutely. I do take my hat's off to everyone who's been doing DevRel and evangelism and those type of roles during pandemics. And we just, you know, as the past few months, I've started back to in-person events. But the folks who've been out there finding new way to do those jobs, finding a way to [crosstalk 00:12:50]—Corey: Oh, staff at re:Invent next week. Oh, my God.Tim: Yeah. Those folks, I don't know how they're being rewarded for their work, but I can assure you, they probably need to be [unintelligible 00:12:57] better than they are. So, if you are staff at re:Invent, and you see Corey and I, next week when we're there—if you're listening to this in time—we would love to shake your hand, elbow bump you, whatever it is you're comfortable with, and laud you for the work you're doing. Because it is not easy work under the best of circumstances, and we are certainly not under the best of circumstances.Corey: I also want to call out specific thanks to a group that might take some people aback. But that group is AWS marketing, which given how much grief I give them seems like an odd thing for me to say, but let's be clear, I don't have any giant companies whose ability to continue as a going concern is dependent upon my keeping systems up and running. AWS does. They have to market and tell stories to everyone because that is generally who their customers are: they round to everyone. And an awful lot of those companies have unofficial mottos of, “That's not funny.” I'm amazed that they can say anything at all, given how incredibly varied their customer base is, I could get away with saying whatever I want solely because I just don't care. They have to care.Tim: They do. And it's not only that they have to care, they're in a difficult situation. It's like, you know, they—every company that sizes is, you know, they are image conscious, and they have things that say what like, “Look, this is the deal. This is the scenario. This is how it went down, but you can still maintain your faith and confidence in us.” And people do when AWS services, they have problems, if anything comes out like that, it does make the news and the reason it doesn't make the news is because it is so rare. And when they can remind us of that in a very effective way, like, I appreciate that. You know, people say if anything happens to S3, everybody knows because everyone depends on it and that's for good reason.Corey: And let's not forget that I run The Duckbill Group. You know, the company we work for. I have the Last Week in AWS newsletter and blog. I have my aggressive shitposting Twitter feed. I host the AWS Morning Brief podcast, and I host this Screaming in the Cloud. And it's challenging for me to figure out how to message all of those things because when people ask what you do, they don't want to hear a litany that goes on for 25 seconds, they want a sentence.I feel like I've spread in too many directions and I want to narrow that down. And where do I drive people to and that was a bit of a marketing challenge that Natalie in our marketing department really cut through super well. Now, pretend I work in AWS. The way that I check this based upon a public list of parameters they stub into Systems Manager Parameter Store, there are right now 291 services that they offer. That is well beyond any one person's ability to keep in their head. I can talk incredibly convincingly now about AWS services that don't exist and people who work in AWS on messaging, marketing, engineering, et cetera, will not call me out on it because who can provably say that ‘AWS Strangle Pony' isn't a real service.Tim: I do want to call out the DevOps—shout out I should say, the DevOps term community for AWS Infinidash because that was just so well done, and AWS took that with just the right amount of tongue in cheek, and a wink and a nod and let us have our fun. And that was a good time. It was a great exercise in improv.Corey: That was Joe Nash out of Twilio who just absolutely nailed it with his tweet, “I am convinced that a small and dedicated group of Twitter devs could tweet hot takes about a completely made up AWS product—I don't know AWS Infinidash or something—and it would appear as a requirement on job specs within a week.” And he was right.Tim: [laugh]. Speaking of Twitter, I want to shout out Twitter as a company or whoever does a product management over there for Twitter Spaces. I remember when Twitter Spaces first came out, everyone was dubious of its effect, of it's impact. They were calling it, you know, a Periscope clone or whatever it was, and there was a lot of sneering and snarking at it. But Twitter Spaces has become very, very effective in having good conversations in the group and the community of folks that have just open questions, and then to speak to folks that they probably wouldn't only get to speak to about this questions and get answers, and have really helpful, uplifting and difficult conversations that you wouldn't otherwise really have a medium for. And I'm super, super happy that whoever that product manager was, hats off to you, my friend.Corey: One group you're never going to hear me say a negative word about is AWS support. Also, their training and certification group. I know that are technically different orgs, but it often doesn't feel that way. Their job is basically impossible. They have to teach people—even on the support side, you're still teaching people—how to use all of these different varied services in different ways, and you have to do it in the face of what can only really be described as abuse from a number of folks on Twitter.When someone is having trouble with an AWS service, they can turn into shitheads, I've got to be honest with you. And berating the poor schmuck who has to handle the AWS support Twitter feed, or answer your insulting ticket or whatnot, they are not empowered to actually fix the underlying problem with a service. They are effectively a traffic router to get the message to someone who can, in a format that is understood internally. And I want to be very clear that if you insult people who are in customer service roles and blame them for it, you're just being a jerk.Tim: No, it really is because I'm pretty sure a significant amount of your listeners and people initially started off working in tech support, or customer service, or help desk or something like that, and you really do become the dumping ground for the customers' frustrations because you are the only person they get to talk to. And you have to not only take that, but you have to try and do the emotional labor behind soothing them as well as fixing the actual problem. And it's really, really difficult. I feel like the people who have that in their background are some of the best consultants, some of the best DevRel folks, and the best at talking to people because they're used to being able to get some technical details out of folks who may not be very technical, who may be under emotional distress, and certainly in high stress situations. So yeah, AWS support, really anybody who has support, especially paid support—phone or chat otherwise—hats off again. That is a service that is thankless, it is a service that is almost always underpaid, and is almost always under appreciated.Corey: This episode is sponsored by our friends at Oracle HeatWave is a new high-performance accelerator for the Oracle MySQL Database Service. Although I insist on calling it “my squirrel.” While MySQL has long been the worlds most popular open source database, shifting from transacting to analytics required way too much overhead and, ya know, work. With HeatWave you can run your OLTP and OLAP, don't ask me to ever say those acronyms again, workloads directly from your MySQL database and eliminate the time consuming data movement and integration work, while also performing 1100X faster than Amazon Aurora, and 2.5X faster than Amazon Redshift, at a third of the cost. My thanks again to Oracle Cloud for sponsoring this ridiculous nonsense.Corey: I'll take another team that's similar to that respect: Commerce Platform. That is the team that runs all of AWS billing. And you would be surprised that I'm thanking them, but no, it's not the cynical approach of, “Thanks for making it so complicated so I could have a business.” No, I would love it if it were so simple that I had to go find something else to do because the problem was that easy for customers to solve. That is the ideal and I hope, sincerely, that we can get there.But everything that happens in AWS has to be metered and understood as far as who has done what, and charge people appropriately for it. It is also generally invisible; people don't understand anything approaching the scale of that, and what makes it worst of all, is that if suddenly what they were doing broke and customers weren't built for their usage, not a single one of them would complain about it because, “All right, I'll take it.” It's a thankless job that is incredibly key and central to making the cloud work at all, but it's a hard job.Tim: It really is. And is a lot of black magic and voodoo to really try and understand how this thing works. There's no simple way to explain it. I imagine if they were going to give you the index overview of how it works with a 10,000 feet, that alone would be, like, a 300 page document. It is a gigantic moving beast.And it is one of those things where scale will show all the flaws. And no one has scale I think like AWS does. So, the folks that have to work and maintain that are just really, again, they're under appreciated for all that they do. I also think that—you know, you talk about the same thing in other orgs, as we talked about the folks that handle the billing and stuff like that, but you mentioned AWS, and I was thinking the other day how it's really awesome that I've got my AWS driver. I have the same, like, group of three or four folks that do all my deliveries for AWS.And they have been inundated over this past year-and-a-half with more and more and more stuff. And yet, I've still managed—my stuff is always put down nicely on my doorstep. It's never thrown, it's not damaged. I'm not saying it's never been damaged, but it's not damaged, like, maybe FedEx I've [laugh] had or some other delivery services where it's just, kind of, carelessly done. They still maintain efficiency, they maintain professionalism [unintelligible 00:21:45] talking to folks.What they've had to do at their scale and at that the amount of stuff they've had to do for deliveries over this past year-and-a-half has just been incredible. So, I want to extend it also to, like, the folks who are working in the distribution centers. Like, a lot of us here talk about AWS as if that's Amazon, but in essence, it is those folks that are working those more thankless and invisible jobs in the warehouses and fulfillment centers, under really bad conditions sometimes, who's still plug away at it. I'm glad that Amazon is at least saying they're making efforts to improve the conditions there and improve the pay there, things like that, but those folks have enabled a lot of us to work during this pandemic with a lot of conveniences that they themselves would never be able to enjoy.Corey: Yeah. It's bad for society, but I'm glad it exists, obviously. The thing is, I would love it if things showed up a little more slowly if it meant that people could be treated humanely along the process. That said, I don't have any conception of what it takes to run a company with 1.2 million people.I have learned that as you start managing groups and managing managers of groups, it's counterintuitive, but so much of what you do is no longer you doing the actual work. It is solely through influence and delegation. You own all of the responsibility but no direct put-finger-on-problem capability of contributing to the fix. It takes time at that scale, which is why I think one of the dumbest series of questions from, again, another group that deserves a fair bit of credit which is journalists because this stuff is hard, but a naive question I hear a lot is, “Well, okay. It's been 100 days. What has Adam Selipsky slash Andy Jassy changed completely about the company?”It's, yeah, it's a $1.6 trillion company. They are not going to suddenly grab the steering wheel and yank. It's going to take years for shifts that they do to start manifesting in serious ways that are externally visible. That is how big companies work. You don't want to see a complete change in direction from large blue chip companies that run things. Like, again, everyone's production infrastructure. You want it to be predictable, you want it to be boring, and you want shifts to be gradual course corrections, not vast swings.Tim: I mean, Amazon is a company with a population of a medium to medium-large sized city and a market cap of the GDP of several countries. So, it is not a plucky startup; it is not this small little tech company. It is a vast enterprise that's distributed all over the world with a lot of folks doing a lot of different jobs. You cannot, as you said, steer that ship quickly.Corey: I grew up in Maine and Amazon has roughly the same number employees as live in Maine. It is hard to contextualize how all of that works. There are people who work there that even now don't always know who Andy Jassy is. Okay, fine, but I'm not talking about don't know him on site or whatever. I'm saying they do not recognize the name. That's a very big company.Tim: “Andy who?”Corey: Exactly. “Oh, is that the guy that Corey makes fun of all the time?” Like, there we go. That's what I tend to live for.Tim: I thought that was Werner.Corey: It's sort of every one, though I want to be clear, I make it a very key point. I do not make fun of people personally because it—even if they're crap, which I do not believe to be the case in any of the names we've mentioned so far, they have friends and family who love and care about them. You don't want someone to go on the internet and Google their parent's name or something, and then just see people crapping all over. That's got to hurt. Let people be people. And, on some level, when you become the CEO of a company of that scale, you're stepping out of reality and into the pages of legend slash history, at some point. 200 years from now, people will read about you in history books, that's a wild concept.Tim: It is I think you mentioned something important that we would be remiss—especially Duckbill Group—to mention is that we're very thankful for our families, partners, et cetera, for putting up with us, pets, everybody. As part of our jobs, we invite strangers from the internet into our homes virtually to see behind us what is going on, and for those of us that have kids, that involves a lot of patience on their part, a lot of patients on our partners' parts, and other folks that are doing those kind of nurturing roles. You know, our pets who want to play with us are sitting there and not able to. It has not been easy for all of us, even though we're a remote company, but to work under these conditions that we have been over the past year-and-a-half. And I think that goes for a lot of the folks in industry where now all of a sudden, you've been occupying a room in the house or space in the house for some 18-plus months, where before you're always at work or something like that. And that's been a hell of an adjustment. And so we talk about that for us folks that are here pontificating on podcasts, or banging out code, but the adjustments and the things our families have had to go through and do to tolerate us being there cannot be overstated how important that is.Corey: Anyone else that's on your list of people to thank? And this is the problem because you're always going to forget people. I mean, the podcast production crew: the folks that turn our ramblings into a podcast, the editing, the transcription, all of it; the folks that HumblePod are just amazing. The fact that I don't have to worry about any of this stuff as if by magic, means that you're sort of insulated from it. But it's amazing to watch that happen.Tim: You know, honestly, I super want to thank just all the folks that take the time to interact with us. We do this job and Corey shitposts, and I shitpost and we talk, but we really do this and rely on the folks that do take the time to DM us, or tweet us, or mention us in the thread, or reach out in any way to ask us questions, or have a discussion with us on something we said, those folks encourage us, they keep us accountable, and they give us opportunities to learn to be better. And so I'm grateful for that. It would be—this role, this job, the thing we do where we're viewable and seen by the public would be a lot less pleasant if it wasn't for y'all. So, it's too many to name, but I do appreciate you.Corey: Well, thank you, I do my best. I find this stuff to be so boring if you couldn't have fun with it. And so many people can't have fun with it, so it feels like I found a cheat code for making enterprise software solutions interesting. Which even saying that out loud sounds like I'm shitposting. But here we are.Tim: Here we are. And of course, my thanks to you, Corey, for reaching out to me one day and saying, “Hey, what are you doing? Would you want to come interview with us at The Duckbill Group?”Corey: And it was great because, like, “Well, I did leave AWS within the last 18 months, so there might be a non-compete issue.” Like, “Oh, please, I hope so. Oh, please, oh, please, oh, please. I would love to pick that fight publicly.” But sadly, no one is quite foolish enough to take me up on it.Don't worry. That's enough of a sappy episode, I think. I am convinced that our next encounter on this podcast will be our usual aggressive self. But every once in a while it's nice to break the act and express honest and heartfelt appreciation. I'm really looking forward to next week with all of the various announcements that are coming out.I know people have worked extremely hard on them, and I want them to know that despite the fact that I will be making fun of everything that they have done, there's a tremendous amount of respect that goes into it. The fact that I can make fun of the stuff that you've done without any fear that I'm punching down somehow because, you know it is at least above a baseline level of good speaks volumes. There are providers I absolutely do not have that confidence towards them.Tim: [laugh]. Yeah, AWS, as the enterprise level service provider is an easy target for a lot of stuff. The people that work there are not. They do great work. They've got amazing people in all kinds of roles there. And they're often unseen for the stuff they do. So yeah, for all the folks who have contributed to what we're going to partake in at re:Invent—and it's a lot and I understand from having worked there, the pressure that's put on you for this—I'm super stoked about it and I'm grateful.Corey: Same here. If I didn't like this company, I would not have devoted years to making fun of it. Because that requires a diagnosis, not a newsletter, podcast, or shitposting Twitter feed. Tim, thank you so much for, I guess, giving me the impetus and, of course, the amazing name of the show to wind up just saying thank you, which I think is something that we could all stand to do just a little bit more of.Tim: My pleasure, Corey. I'm glad we could run with this. I'm, as always, happy to be on Screaming in the Cloud with you. I think now I get a vest and a sleeve. Is that how that works now?Corey: Exactly. Once you get on five episodes, then you end up getting the dinner jacket, just, like, hosting SNL. Same story. More on that to come in the new year. Thanks, Tim. I appreciate it.Tim: Thank you, Corey.Corey: Tim Banks, principal cloud economist here at The Duckbill Group. I am, of course, Corey Quinn, and thank you for listening.Corey: If your AWS bill keeps rising and your blood pressure is doing the same, then you need The Duckbill Group. We help companies fix their AWS bill by making it smaller and less horrifying. The Duckbill Group works for you, not AWS. We tailor recommendations to your business and we get to the point. Visit duckbillgroup.com to get started.Announcer: This has been a HumblePod production. Stay humble.

Keep What You Earn
Are You Ready for a CFO? with Caitlynn Eldridge

Keep What You Earn

Play Episode Listen Later Nov 25, 2021 46:42


This week we are going to be talking with Caitlynn Eldridge. I'm really excited to introduce Caitlynn to you. She is a fellow CPA, CEO, and she's working with many female small business owners online. You'll notice that she and I have a very similar background and we definitely have a similar ethos when it comes to our love for accounting and taxes but also our love for helping small business owners. She has so many tips and tricks to share with you, along with her perspective on "Do you really need a CFO? What is a CFO? And what are certain stigmas associated with that name?". >>> Find Caitlynn on Instagram @caitlynneldridge   >>> CPA Hour Link: http://caitlynneldridge.com/cpahour/   >>> Text me!: https://my.community.com/shannonweinsteincpa   >>> Fitnancial Solutions Accounting Suite: https://www.fitnancialsolutions.com/accounting   >>> Find me on IG @shannonweinstein: https://www.instagram.com/shannonkweinstein   >>> Catch me in-person on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ   >>> Join my Keep What You Earn: Financial Empowerment for Entrepreneurs group: https://www.facebook.com/groups/fitnancial   >>> Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html   >>> Chat About This Episode in the Keep What You Earn Community: https://www.facebook.com/groups/fitnancial   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Garage Heroes In Training
GHIT 0263: Justin Barbry - Track Night In America

Garage Heroes In Training

Play Episode Listen Later Nov 25, 2021 68:00


Do you know anyone who always wanted to drive on track but didn't think it was possible? Do you talk to people about driving on track and they don't understand but you know they would? Do you want a bigger racing budget?  Perhaps the CFO of the house isn't involved in our sport (yet).   Vicki and Bill have attended several Track Night In America events and had a blast.  It is a great way to see if you or someone you know would like driving on track without a lot of prep, money, or time required.  We have often said that autocross was the gateway drug to high performance driving, but what if you don't have a vendetta (yet) against small orange cones?  This may be the best alternative we have found without jumping in with both feet to a full track weekend etc. We will need to have Justin on again to talk about his driving and racing exploits and hopefully subject him to our F&F Storytime segment.   A link to the episode is: https://tinyurl.com/TNIAonGhit  If you would like to help grow our sport and this podcast: You can subscribe to our podcast on the podcast provider of your choice, including the Apple podcast app, Google music, Amazon, and YouTube etc. Also, if you could give our podcast a (5-star?) rating or even better, a podcast review, we would greatly appreciate it and it would help us to grow the passion and sport of high performance driving. For instance, leaving an Apple Podcast rating is very easy.  If you go to your podcast library, under shows and click on the podcast you can leave a (5?) star rating and enter your review.  We hope you enjoy this episode! PS  Please don't forget that if you are looking to add an Apex Pro to your driving telemetry system, don't forget to use our discount code for all Apex Pro systems you will receive a free Windshield Suction Cup Mount for the system, a savings of $40.  Just enter the code “ghitlikesapex!” when you order.  They are a great system and truly invaluable in safely increasing your speed on track and/or autocross etc.  The recently released second generation systems and app increases the capability of the system greatly. Best regards, Vicki, Jennifer, Alan, and Bill Hosts of the Garage Heroes In Training Podcast and Garage Heroes In Training racing team drivers Track Night In America:  https://www.tracknightinamerica.com/  SCCA:  https://www.scca.com/  SPECIAL OFFER LINK: https://www.tracknightinamerica.com/products/27326-holiday-special-2021-track-night-gift-certificate-t-shirt

The CFO Playbook
Top Automation Lessons from Finance Leaders

The CFO Playbook

Play Episode Listen Later Nov 25, 2021 14:46


On this episode of The CFO Playbook, we share some of the best advice on technology and automation that we've received from recent guests.Lessons we cover in this episode:It's key to build a structural foundation for finance upon automation and technology: Hyper growth companies view technology as the ‘engine room' of growth and a critical foundation for scale. The days of thinking that automation is a “nice to have” are over. Building automation can be far more rewarding for teams than following a well-trodden playbook. Once you've laid the groundwork, with the right technology for your company: Be deliberate in determining which technology tools to invest in and why. Start by identifying your pain points. Automation increases efficiency and creates more time to harness strategic thinking. If done well, technology beats throwing headcount at a problem. Hiring and managing for automation is vital: Automation can be great for employee retention, but you have to hire the right employees to leverage the technology. Great managers should take advantage of the extra time automation allows to challenge and engage their finance team with creative, mission-critical problems. Over time, the skills and requirements of a finance team are shifting to meet the demands of technology-enabled businesses. The need for and benefits of automation aren't going away anytime soon: Automation can help CFOs directly. Sharper forecasting, real-time cost controls, and fewer processes can create space for CFOs to focus on company strategy. With the CFO's responsibilities increasing rapidly over time, automation allows for far more effective partnering with the CEO and the rest of the executive team.  Tune into the full episode to get all the best insights on leveraging technology and automation in finance.Connect with our host Ross on LinkedIn.If you want a better way to track and control your team's spend, check out Soldo.com.

Our Two Cents Podcast
#115 - Wharton School of Business vs. Portland State University

Our Two Cents Podcast

Play Episode Listen Later Nov 25, 2021 46:33


David J. Reibstein is the William S. Woodside Professor and Professor of Marketing at the Wharton School of the University of Pennsylvania, where he is a world-renowned expert on branding, marketing metrics, product line decisions, and competitive marketing strategy. For several years he served as the Vice Dean of The Wharton School. Professor Reibstein is a dynamic, award-winning teacher who has been honored with more than 30 teaching awards. He also received the John S. Day Distinguished Alumni Academic Service Award of Purdue University's Krannert School of Management, an honor given to a graduate whose service within the academic community reflects the spirit and service of former Krannert Dean John Day. His teaching interests include Marketing Strategy in the MBA Program, as well as teaching Competitive Marketing Strategy, Marketing Metrics, Pricing Strategies, and various other programs for Wharton's Executive Education Program. Professor Reibstein received his PhD from Purdue University and his BS and BA degrees from the University of Kansas. John Eckroth has over 30 years of tax and accounting experience, working in the tax department of PricewaterhouseCoopers, LLP, as a Partner in a small CPA firm in Claremont, California and later as CFO of a U.S. based subsidiary of the Spanish banking firm BBVA. After leaving the firm in 2002, John has continued as a Consultant for BBVA's U.S. operations, working with its Houston based subsidiaries in the areas of financial reporting and analysis, internal controls and regulatory compliance. Shannon and Kyle have a lively debate with Professor Reibstein and Senior Instructor John Eckroth with no topic off limits. They dive into the economic impact of college and the overall investment of time before there is a clear return of investment. They lay out the clear benefits of college beyond job market research and the major tech companies that are no longer requiring a college degree. LEARN MORE ABOUT DAVID REIBSTEIN: Website: https://marketing.wharton.upenn.edu/profile/reibstei/ www.measuredthoughts.com Email: reibstein@wharton.upenn.edu YouTube: www.youtube.com/user/MeasuredThoughts LinkedIn: @DavidReibstein LEARN MORE ABOUT JOHN ECKROTH: Website: www.pdx.edu/profile/john-eckroth Email: jeckroth@pdx.edu LinkedIn: @JohnEckroth    

CFO at Home
72. The Dumbest Thing I've Ever Done with Money

CFO at Home

Play Episode Listen Later Nov 25, 2021 21:39


For this week's episode we're doing something a little different. Vince was recently a guest on his friend and former CFO at Home guest Suzanne Johnson's show “Lessons Learned: The Dumbest Thing I've Ever Done with Money”. On that show he shared a personal story from his past involving the dumbest thing he's ever done with money as the CFO of his home. This episode is the audio from that conversation. Episodes of “Lessons Learned: The Dumbest Thing I've Ever Done with Money” Grace Financial Coaching - YouTube Contact the Host - vince@thecfoathome.com

The Ryan Pineda Show
HE OWNS 300 RENTAL UNITS! Meet Pace Morby | Triple Digit Flip

The Ryan Pineda Show

Play Episode Listen Later Nov 24, 2021 69:31


In today's podcast I had my friend Pace Morby out of Arizona. Pace is doing so many crazy things! He's done hundreds of creative finance deals, but on top of that, all the success has lead him to a best viewed show on A&E called Triple Digit Flip! It is a number one show right now and it is amazing! We go over how his career has blossomed from just being a contractor and doing everything on his own to getting into a home investors franchise, to leaving it - almost going bankrupt from a bunch of contractors and other flippers screwing him over! And now he is ultra successful in multiple businesses, on social media, and everything he touches. You guys don't want to miss out, its a great show!Check out https://futureflipper.com to see how I can help grow your business! Head over to https://pinedacapital.com to invest with me! Watch the Ryan and Mindy Show with the link below!https://youtu.be/haObLtul_JsFollow Pace on social media!YouTube  @Pace Morby  Instagram  @pacemorbyTikTok @pacemorby Watch season one of Triple Digit Flip - https://www.aetv.com/shows/triple-digit-flip/season-1_____________________________________________________Download my book, RAISE+ Planner, real estate contracts, and newsletter for FREE. Also check out all my courses and programs. https://ryanpineda.comGo Subscribe to my main channel "Ryan Pineda". https://www.youtube.com/c/ryanpinedaText Me: 1-702-297-6328I communicate directly with you! Exclusive content and giveaways.Want to be coached by me? Apply at https://futureflipper.comLet my company make you passive income through Amazon Automation! Watch the case study at http://lunarecom.comWant to invest in real estate but don't have the time to find deals? Invest through Fundrise!https://fundrise.com/Need Tax and Accounting help? Contact my CPA Firm! https://TrueBooksCPA.com/Are you a Realtor in Las Vegas, NV? Join my Brokerage! https://ForeverHomeLV.com/If you're just starting out and you want to market directly to sellers, I highly recommend using BatchLeads. We currently use them in our business to pull lists, stack lists, get phone numbers, text, and find property values. It is an amazing service that will help you get deals on any budget!Promo Code: HOMERUN for half off your first month. https://bit.ly/2E3LbtYOr you can get 500 texts and a 14 day free trial for $1. https://batchleads.io/homerun/Do you want to buy a real estate in Vegas? My team can help. https://www.ryanpineda.com/vegasFollow me on Social Media: https://www.instagram.com/ryanpinedashowhttps://www.tiktok.com/@ryanpineda______________________________________________________Pace and I start the podcast with his backstory. He comes from a a large, blue collar family, where his dad made more money as a contractor than a CFO! He became the second contractor that OpenDoor had hired and had started profiting millions of dollars every year! He found out the hard way how important for a business owner to diversify their portfolio, as the company decided to lower their renovation budget and no longer required his services.Real estate is so diverse that there are so many ways to succeed! Beginners can feel overwhelmed with all the possible routes to follow, but in reality, almost every route works! From house flipping, wholesaling, creativity financing, and many more, there's so much money to be made. We discuss social media, imposter syndrome, Pace's experience filming the TV show, and we talk about posting new discussing “the good, the bad, and the ugly.”We finish off the podcast talking about Pace's schedule, goals for his future, and the mindset that drives him.

Motoring Podcast - News Show
Hear the Sparrows Farting - 23 November 2021

Motoring Podcast - News Show

Play Episode Listen Later Nov 24, 2021 46:42


FOLLOW UP: VW SHOULD'VE PUBLISHED ENGINE PLANIn a test case brought by investors in Germany, Volkswagen is accused of failing to disclose the problem from back in 2008. The judge has stated that it is on the investors to prove VW or any of their staff withheld information, but it is up to VW to prove the board not telling investors from 2012 was not grossly negligent nor deliberate. To read more, click here for the Reuters article. FOLLOW UP: CONTINENTAL EX-CEO AND EX-CFO INVESTIGATED The ex-CEO, Dagenhart, and just sacked CFO, Wolfgang Schaefer, who held their roles for Continental, are being investigated by German prosecutors over their involvement in dieselgate, specifically regarding the 1.6 litre diesel engines. To read more on this story, click the Yahoo News article here. HAND HELD DEVICES TO BE ILLEGAL BEHIND THE WHEELThe Highway Code will be updated with changes to interacting with your mobile phone, whilst driving. The loopholes that allow playing games, filming or scrolling through playlists whilst holding the phone, will be illegal. However, if the device is in a cradle it can still be prodded as though it was a touchscreen infotainment system fitted to the car. To find out more, click here for the BBC News article. NATIONAL PARKS NOT CONSIDERING BANNING CARSStories started circulating that some National Parks were considering banning cars from some roads at certain times of the year, this is not the case. However, they are all looking at what they can do to reduce congestion and the effect so many visitors have travelling to these beauty spots. To read more, click the Autocar article here. PORTSMOUTH CAZ OPENS 29 NOVEMBERPortsmouth will be starting their Clean Air Zone (CAZ) initiative on 29 November. This will only affect HGVs, buses, vans, taxis and private hire vehicles as it is designated as a Class B CAZ, therefore private car drivers are not going to be saddled with extra costs to enter the city. To find out more, click here for the YesAuto article. VOLTA TRUCKS STARTS PRODUCTION IN COVENTRY Volta Trucks has started building their prototype all-electric Zero lorry, in Coventry. The vehicles comes with a range of 95-125 miles. 25 prototypes will be built in Coventry and once Volta are ready for full production they will be built in their Austrian factory. To find out more, click the Autocar Professional article here. MORGAN APPOINTS NEW HEAD OF EVSMorgan has made it clear that electrification is very much in their future, with the appointment of Matthew Hole as Chief Technical Officer, with Graham Chapman who moves up to Chief Operations Officer. To read more, click here for the Autocar article. MOTORWAY SERVICES EV CHARGING MONOPOLY LOOSENS Gridserve, who now own Ecotricity, has informed the Competition and Markets Authority (CMA) that they will not enforce the exclusivity clauses in their contracts with MOTO, Extra or Roadchef, after 2026, over EV charging stations. This will allow other operators to install their equipment and give consumers a choice on charging providers. To find out more, click the Electrifying article here. SMMT PUBLISHES MARKETING GUIDELINES FOR AUTOMATED TECHNOLOGYThe Society of Motor Manufacturers and Traders (SMMT), has worked with industry organisations, the Advertising Standards Agency, Thatcham Research and Government departments to come up with principles for advertising automated vehicle technology. To find out more, click here for the SMMT article. PRIVATE E-SCOOTERS NEED MORE RESEARCH BEFORE LEGALISATIONThe Parliamentary Advisory Council for Transport Safety has advised that more information is required before private e-scooters can be legalised as there appears to be a difference in behaviour between rental and privately ridden scooters. They wish to gather more data so that recommendation that allow for safe approval of the idea or rejection can be fully considered. To read more, click the Autocar article here. ——————————————————————————-If you like what we do, on this show, and think it is worth a £1.00, please consider supporting us via Patreon. Here is the link to that CLICK HERE TO SUPPORT THE PODCAST——————————————————————————-WRC: RALLY MONZASebastien Ogier rounded off his last full time season with a win, which meant he captured his eighth championship. He was pushed all the way by teammate Elfyn Evans and Dani Sordo, for Hyundai, rounded off the podium. Ogier will take part in only a small number of events next season. To find out more about what happened at Monza, click here for the DirtFish article. To read the What We Learned article, click the link here. To watch the DirtFish video showing Ogier's final full-time season, click the link here. To watch the chat the Team Principles have with each other, click the DirtFish video here. NEW NEW CAR NEWSHyundai Heritage Series GandeurIn recognition of the importance of the Grandeur, Hyundai have created a retro-modern reinterpretation of their flagship model which they originally released 35 years ago. Similar to the recent Pony concept car, there are some lovely modern touches but a retention of the original, recognisable, shape. To read more, click the YesAuto article here. Genesis G70 Shooting BrakeWhilst marketing calls this a shooting brake, it is an attractive estate with five doors. They will be fitting this European only car with the same V6 from the Stinger, plus letting the Germany development centre make sure the ride, handling and everything else is how we expect them to be in this market. PRices start at £35, 250. To find out more and look at the rather attractive shape, click the EVO article here. LUNCHTIME READ: THE CORBY ORBITAL NORTHERN ROAD This article explains why the Corby Orbital Northern Road took £10 million public funding but has never been completed and possibly who is now the owner of it. Intrigue, multiple owners at the same Channel Island address and more can be found in this excellent example of why local reporting is so very important. To read the article, click the Northamptonshire Telegraph link here. LIST OF THE WEEK: GORDON MURRAY'S TOP 10 CARSYou can watch a fascinating video from Goodwood Road&Racing where they propose the Top 10 cars designed by Gordon Murray. Don't forget to let Alan know if you agree with his choice and if not which you would pick as the number one car. To view the video, click the YouTube link here. AND FINALLY: TINY ENGINE THAT IS A WORK OF ARTA creator called Maker B has spent 1,000 hours creating a miniscule 4-stroke engine and condensed the process into a 15 minute video show ing the skill and artistry involved in making the engine and getting it running. To see this click the Hagerty link here.

Grow Money Business with Grant Bledsoe
Ep #104 - An Entrepreneurial Success Story With Lindsay Pinchuk

Grow Money Business with Grant Bledsoe

Play Episode Listen Later Nov 24, 2021 53:58


From developing an idea into a viable business to growing revenue, managing finances, and eventual exit and sale, the journey of entrepreneurship can be risky and fascinating. In the upcoming episodes of Grow Money Business, we will have individuals on the show sharing their exciting entrepreneurial stories. In today's episode, Lindsay Pinchuk, an award-winning entrepreneur, joins us today to share her story of growing Bump Club & Beyond, one of the premier parenting communities in the country. [03:36] Lindsay's Story – Lindsay shares how she got the idea of starting her business and the exciting entrepreneurial journey that came with it. [9.57] Structure – Lindsay explains how her previous work experience helped her in modeling her business structure. [10:38] Monetizing – Whatever the business is, monetizing plays a vital role. Lindsay broadly describes how she utilizes the power of community for monetization. [15:33] Taking the Shift – Lindsay talks about why she gave up her career for her business and what that transition looked like. [17.33] Financing – Lindsay shares how she embedded the financial aspects, such as bookkeeping and having an accountant, into her business as it grew. [20:00] Entity Structure – Lindsay shares with us some of the lessons she learned about setting up the right business structure and hiring the right kind of people for the business to flourish. [28:54] Outsourced CFO – Lindsay talks about the financial support she got by outsourcing the CFO position, especially when creating valuations for the business. [30.30] Acquisitions – Lindsay talks about how she received acquisition offers from three different entities for her business in 2018 and the process that followed. [33.13] Message to the Entrepreneurs - Lindsay shares some lessons she learned from her business journey. [42:30] Business & Personal Life – Lindsay shares her experience of managing personal finances and business as a mother.   Resources: Connect with Lindsay Website: lindsaypinchuk.com/ LinkedIn: linkedin.com/in/lindsaypinchuk/ For more tips to help you start and grow your business, follow Lindsay on Instagram: instagram.com/lindsaypinchuk/ You can also grab some of her free guides:  5 Tips + Tools for Starting Your Own Business: view.flodesk.com/pages/6192a54d3a0e5bcf6f542228 Six Super Simple Tips for Social Media Success:view.flodesk.com/pages/61929cab839edddd7aa02829   Make sure you check out her podcast Dear Found Her, coming in January. Subscribe on Apple, Spotify, or wherever you listen.: podcasts.apple.com/us/podcast/dear-foundher/id1591976277 For further discussion with other founders, join the Dear Found Her Facebook Group: facebook.com/groups/dearfoundher/

The Remarkable Leadership Podcast
Thursday is the New Friday with Joe Sanok

The Remarkable Leadership Podcast

Play Episode Listen Later Nov 24, 2021 42:14


How many hours do you work each week? How do you feel Friday afternoon? Who decided the norm was a 40-hour work week? Joe Sanok joins Kevin to discuss how we could work less hours and be more productive and more creative. Key Points Joe shares the origins of the 9-5 workday and why this plays into the “great resignation” we are seeing. The definition of an industrialist mentality and why we need to think about an evolutionary model. As we move toward post pandemic, we have the opportunity to make a case for the 4-day work week. Tips to start the 4-day conversation in your organization. Meet Joe Name: Joe Sanok His Story: Author of Thursday is the New Friday: How to work fewer hours, make more money, and spend time doing what you want. He is a keynote and TEDx speaker, business consultant, and podcaster. Worth Mentioning: Joe has the #1 podcast for counselors, The Practice of the Practice Podcast. Joe is also writer for PsychCentral, has been featured on the Huffington Post, Forbes, GOOD Magazine, Reader's Digest, Entrepreneur on Fire, Smart Passive Income Podcast, and Yahoo News. He is the author of five books and has been named the Therapist Resource top podcast, consultant, and blogger. www.joesanok.com http://thursdayisthenewfriday.com/ https://www.practiceofthepractice.com/ LinkedIn: https://www.linkedin.com/in/joseph-sanok-8b140023/ Twitter: https://twitter.com/joesanok Instagram: https://www.instagram.com/practiceofthepractice/ Facebook: https://www.facebook.com/PracticeOfThePractice This episode is brought to you by… Future of Work Newsletter, a free weekly e-newsletter. It's full of articles and resources to help you, your team and your organization be more successful in the ever-changing remote work environment. Quote Say you're the CEO and you're talking to your C suite. To be able to have conversations with the CFO and say what do you hate about your job. If you can't have that level of intimacy and discussion with your leadership, you're not a good leader. (Tweet This) Book Recommendations Thursday is the New Friday: How to Work Fewer Hours, Make More Money, and Spend Time Doing What You Want by Joe Sanok The Untethered Soul: The Journey Beyond Yourself by Michael Singer Related Podcast Episodes Leadership Productivity Principles with Maura Thomas. Leadership Whitespace with Juliet Funt. Wellbeing at Work with Jim Harter. Beating Burnout at Work with Paula Davis.

Circle City Success
146. November 2021 Recap with Jason & Drew

Circle City Success

Play Episode Listen Later Nov 24, 2021 34:31


In this episode, we recap some of the things that we learned from our four August guests who were: David Magley, former NBA player who is the President of an emerging pro basketball league named The Basketball League Joe Slater, COO & CFO of Gleaners Food Bank of Indiana Angel Henry, author of her book titled Dents in the Ceiling: Tools Women and Allies Need to Breakthrough and is the Sr. Director of the Transformation Value Management Office & DEI Vice-Chair at Genesys CCS Podcast Partners: Broad Ripple Magazine: https://townepost.com/broad-ripple/ Synergize: https://synergizeindy.com/   Episodes Discussed in This Recap: 143. Perspective & Basketball with David Magley https://circlecitysuccess.libsyn.com/143-perspective-basketball-with-david-magley 144. Gleaners Food Bank of Indiana with Joe Slater https://circlecitysuccess.libsyn.com/144-gleaners-food-bank-of-indiana-with-joe-slater 145. Dents in the Ceiling with Angel Henry https://circlecitysuccess.libsyn.com/145-dents-in-the-ceiling-with-angel-henry Connect with CCS: Connect with Jason: https://www.linkedin.com/in/jason-ulm-0919123/ ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/

The Jason & Scot Show - E-Commerce And Retail News
EP281 - Mark Mahaney, author and top internet analyst

The Jason & Scot Show - E-Commerce And Retail News

Play Episode Listen Later Nov 23, 2021 55:38


EP281 - Mark Mahaney, author and top internet analyst  Mark Mahaney is Senior Managing Director at Evercore ISI, Research Division, he's one of the original and longest lasting internet analysts on Wall Street. He recently published “Nothing but Net: 10 Timeless Stock-Picking Lessons from One of Wall Street's Top Tech Analysts.” We cover a variety of fun topics including the beginning of his career with with Mary Meeker. His initial evaluation of EBay. His long positions on Amazon, Netflix, and Priceline, and butting heads with Jim Cramer over Google. We also discuss what's next for Amazon, and where the best investments of the future might be. Episode 281 of the Jason & Scot show was recorded on Thursday, November 18th, 2021 http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:00] Welcome to the Jason and Scot show this is episode 281 being recorded on Thursday November 18 20 21. I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scott Wingo. Scot: [0:16] Hey Jason and welcome back Jason Scott show listeners. Jason as you and the listeners know I am a huge scene in b.c. junkie and you can't turn on CNBC Durning Earth during earning Seasons without seeing Mark mahaney he is one of the top internet analyst. He was actually on recently talking about the artist previously known as Facebook meta Mark has a new book out called quote-unquote Nothing But net and is joining us tonight give listeners an early peek of what is sure to be the best seller in the bookmark covers some of our favorite companies including Amazon Apple Facebook / meta Google Netflix Twitter and Uber Mark welcome to the show. Mark: [0:56] Thanks for having me on guys. Jason: [0:58] Mark we are thrilled the chat with you is you know Scott is a huge Amazon fan boy so I anytime he gets a chance to talk Amazon he's excited. And I'm super excited because after tonight show I'm going to be smart enough to get rich like you and Scott so that's pretty pretty exciting for me. But before we jump into all that we always like to give listeners a little bit of a feel for our guests background and in your case I know I think you're officially the the oldest analysts on Wall Street is that true. Mark: [1:29] Well that's the oldest and longest lasting internet analyst on Wall Street but I don't look the part so how about we do that yes I've been covering Internet stock since 1998 do a series of bank said I started, working with this tremendous analysts her name was Mary Meeker her name is Mary Meeker and started the first Friday I was on Wall Street I got a call from the CFO of this tiny little online auction company that sold Pez dispensers and was looking to see whether any banks would be interested in their IPO that company was eBay so I wasn't there at the beginning of the internet but I was there pretty close to the beginning of the commercial for the public market to internet and it's been a fascinating ride and I thought there were a lot of lessons I could draw both from the successes the market and failures in the market and my personal successes and failures as a stock picker. Scot: [2:20] Cool what's so name some of the firm's so in my recollection you've probably worked at six firms like how many firms have you worked out over or that career. Mark: [2:30] Yeah now I don't want you to think I you know I jump around too much but I started off at Morgan Stanley also worked at Citibank Royal Bank of Canada. A small boot wonderful Boutique called American Technology research and I'm currently at evercore isi but I've been doing nothing but net. Hence the title of the book that's been my email tagline or always online is one of those two it's been my email tagline for 25 years but nothing but net and that's just doing my best to try to stay ahead of these internet stocks the early ones the the eBay's the Amazons the Yahoo excite if you might remember them infoseek. And then and then AOL and then and then later on some of the more Dynamic ones came out ended up with names like uber including most recently one you talked about Warby Parker so it's been a fascinating span and arguably one of the most dynamic. Parts of Wall Street I guess if you were working as an analyst on Wall Street. Or portfolio manager portfolio manager if you could have picked two sectors to be a part of to track over the last 25 years one of them has to have been the internet just how explosive it's been a been plenty of – explosions in there but there's been some wonderful wealth creation the other sector would probably be software just just too wonderful Industries I got lucky I was I was part of the internet. Scot: [3:49] Yeah I'm glad you didn't pick Mall Focus treats that would have been a bad choice. So you know as Jason mentioned there's kind of this auspicious title that you have of the oldest I would say wisest and most longest lasting internet unless. Tell us about some of the as you reflect in the book is kind of got some really good stories and you've been kind of on the front row seat of a lot of cool stuff maybe tell us what was your worst pick and best pick in the span of the career there. Mark: [4:22] Well I had a sale on Google it close to its IPO I was brought on to CNBC show and told by none other than Jim Jim Cramer that I was an analyst with a three-egg omelette on my face because of my cell phone call he was right I was wrong so you know one doesn't pretend one doesn't tend to forget moments like that on public television being told that you know you're pretty much an ass. But it does happen you know there are axes and then there are you know others and so I made plenty of mistakes I had to buy on Blue Apron although the lessons from that turned out to be different than I thought I got the call wrong but the lessons were different than I thought I kind of dissect that a little bit in the book. So those are some of my some of my worst calls I think my to my three best calls have frankly been sticking with a buy on Amazon for pretty much the last 15 years Netflix for the last 12 years and Priceline and now now booking for. [5:18] For a solid 12 years both Netflix of all three of those were really decades-long S&P 500 Best in Class stocks for a variety of different reasons and in the book I try to call out what were those reasons what were the what's that what's the pattern recognition so that you know we as investors can find the next Netflix and the next Amazon doesn't mean and Amazon and Netflix can't perform well from here but what are the things you can see in common that can help you as a stock picker you know kind of see ahead what really kind of started a lot of the the insights the idea of the book was this wonderful book that was written in 1980 called that one up on wall by Peter Lynch kind of a Bible or primer for anybody really looking to invest invest in the market with some wonderful advice and I really had any wrote it based on some wonderful examples of successful stocks and companies of his generation and I thought somebody needed to write one about our generation and you know these phenomenal money-making we know wealth-creating stocks that have. [6:19] That have soared the charts top the charts over the last 20 10 5 and even two years that have been dramatic dramatic winners from the covid crisis to I try to keep it long term in duration and frankly that's one of the big lessons I have in my book is. Is you know long-term I've found stocks do follow fundamentals they just do companies get bigger more Revenue more profits their stocks go higher almost always that's the case if you're a patient long-term investor so you can make money just investing you don't need to day trade and I think that was the last thing that really inspired me to write this book there about 15 million new. [6:53] Trading accounts that have opened up over the last two years you know the mean Traders the Robin Hood accounts and I just wanted to step back and say look you can have very good returns in the markets by buying high quality companies especially Tech and growth companies you don't have to day trade you can sleep better at night I got plenty of examples of companies that created wonderful. Shareholder returns over time and their stories you can take your time and really understand and stick with and anyway that's it this is this book is a little bit of little bit of personal Memoir but really more of a history of the Great. Companies and the ones that failed and then what are the lessons you can draw to apply going forwards. Jason: [7:32] Got it so I know it's not in your coverage area but you would have a buy on GameStop is that what you're saying no. I Nostalgia requires me to ask though I am staring right now at a pets.com. Puppet still in the box that's like sort of a Memento I have on my on my desk like we're you covering like those guys at the at the. Dot-com boom. Mark: [8:00] No no I didn't but I refer to that in the book and I make this I draw the comparison you know pets.com and smoke you know pets.com went public with trailing 12 month month revenues of 5 million I don't know if you heard that right five million dollars. [8:16] Trailing 12 months they had been an operating company for under two years I mean how that thing got out you know in hindsight is is is pretty shocking but wait a second go you know go forward 15 years and what came out. To e.com chewy.com went public with 3 billion in trailing sales and you knows the same sort of basic value proposition to Consumers it's just that the market was a lot bigger it allowed for a lot more scale and a bunch of other things came out o like cell phones smartphones cloud computing which allowed companies to scale up at much lower costs and so the markets really were proved out at that you know the time of pets.com there were three unknowns is there really an internet Market are there really good management teams and other really good business models today the first question is emphatically yes they are huge Market opportunities and they've been proven in in the Internet space advertising retail entertainment a lot of different ways you can cut it and there's some business models have generated enormous amounts of free cash flow and then there are yes of course there's always a few select excellent management teams who find that right combination it can be it's proven to be a great path to making money in stocks and chewy has been a stock that I've really liked since its IPO even though it's the next pets.com and that's the cynicism that people be placed in front of it when they went public. This was a very different puppy. Jason: [9:39] Yeah it does it seems like timing it seems obvious but timing is such a big. Part of all that you referenced Peter Lynch and I know you know there's. There's all the old Netflix stuff I actually started my career at Blockbuster entertainment and so in my in my industry everyone makes fun of Blockbuster that we got Netflix stand and all those sorts of things and I always have to point out. You know we sold Blockbuster for 18 billion dollars in 1995 like five years before Netflix was invented. Then it was a good business with a good exit you know every every business has it it's it's moment and it's time and you know the the railroads aren't the investment that they once were either. Mark: [10:28] Netflix is a fascinating story so let me let me let me jump to it a little bit you know one of the things the punchline of I asked people if you're going to remember one thing for my book I hope you'll still buy it but if you're going to remember one thing from my book it's dhq it's not DQ That's Dairy Queen dhq is dislocated high-quality companies and. You know time you mentioned timing I was thinking in terms of stock timing I thought those were your going to take us I think it's very hard to the time stocks but you know you can clearly see when stocks are dislocated I either traded off twenty Thirty forty percent so that's usually you know time if you think it's high quality asset and it dislocates them they all dislocate from time to time even the best highest quality names. That's when you can kind of Step In add the positions by the stock knowing that you in a way mitigated some of the valuation risk as investors your tries an investor you're trying to do two things mitigate valuation risk and mitigate fundamentals risk you know the chance that Revenue falls off a cliff margins get crushed the way you mitigate that fundamentals. Risk is to focus on companies with large Tam's excellent management teams great product Innovation and superb customer value prop and Netflix screen so well for me on those four things I'll just take this off super quickly if you don't mind. [11:42] The industry Vision so let's see Reed Hastings invented or started Netflix back in 1997 Netflix the name itself sort of implies that somehow we're going to be doing some streaming thing and this is a 1997 when it would have taken you four hours to download the first five minutes of Terminator like there was no streaming Market there but yet. [12:02] That was the premise of the company in 10 years later you know you look at the first initial interviews with Reed Hastings I mean this is where he was going to take the company all along so I was just giving him kudos for industry vision and the fact that he was willing to cannibalize his existing DVD business first dreaming business very few entrepreneurs can do that so management you know checks My Box customer value proposition the best way to tell whether a customer a company has a great value proposition is do they have pricing power will do people love it so much that they'll pay more for starting in 2014 Netflix started increasing pricing just about every other year and there's some ads accelerated that's a compelling that's evidence of compelling value proposition third is this product Innovation and you know they just don't have a lot of things not just streaming but there's a lot of these little tweaks that the side like binge watching you know kudos to Netflix for just rolling out new series all at once I mean practically invented binge-watching and of course you know they sort of invented the streaming thing or the people who founded music really did that but but Reed comes in a close close second on that and then you know I'm finally in terms of Tam's large Tam's total addressable markets. [13:13] You can add it up a couple of different ways but you know home entertainment video consumption it's it's a couple of hundred billion dollars in total you know Market opportunity and then who knows these things come along like smartphones and all of a sudden the majority of usage is on smartphones that tells you that these markets could be a lot bigger than we traditionally thought just like Spotify blew out the market for what really could be music advertising revenue and music subscription Revenue Netflix is did the same thing with me with Video subscription Revenue they blew up the tan they made it a lot bigger so that's right you know I love that story about the stories about Netflix I gave him a tremendous amount of Kudos I think the sometimes people under appreciate just because it's kind of a singular company just you know video video streaming I think they I think they don't get enough credit for what they've done and what they could still do because I think there's still one more one more trick up Reed Hastings sleeve and I think it's gaming and he's reached they've received such so much skepticism about this pivot or missing expansion in the gaming but you know management team to figured out dvd-by-mail streaming original content International expansion mount give them the benefit of the doubt that they can figure out an Innovative new way. To deliver gaming and therefore further increase their value proposition you'd want to stick with a company like that I stick with the stock like that. Scot: [14:34] Ever kind of a random question let's say there was I'll pick something at random a company that was Reinventing Car Care and making it mobile and digital would you call that a dhq. Mark: [14:45] I think that yes yes absolutely. Scot: [14:51] All right leading the witness. I do have to give you Kudos because in the Netflix section you do have a Star Wars reference you talk about the Disney death star which is which is appropriate because they now own the Death Star it's got a part of there is one of their IPs. Mark: [15:09] But by the way that was you know there were a couple of Netflix there's a rocky stock Rocky stock here that's right that's a that's a rocky stock for you it's had there were two times they miss Subs because of uncertainty over the price increases and they got some pushback it was an obvious that they had pricing power but they proved it over time and then they've got this great competitor risk with Disney and I think what the market missed on that this is just kind of leaving aside the book of just talking about stock picks is you know people are going to sign up for multiple streaming services now not now not five six or seven but they'll sign up for two or three if there's original content and they have original content I mean there's some things you will you have to sign up for Disney Plus for if you if people are like use God and you know dramatic. [15:52] Star Wars fans of course you can sign up for Disney plus but you know there's because its original content if you want to watch squid game there's one and one only place you can go for that and you know there's going to be another squid game or you know another show that just kind of breaks through the site-geist and by the way that's where Netflix is so I'll leave Netflix aside but I'm so struck by is this company shapes the Zeitgeist whether they can cause a run on chess board sales worldwide with the Queens Gambit a year ago where they can cause more people start studying Korean on Duolingo a language app which I actually like is the stock because they can you know they've introduced this show squid games like when a company reaches the Zeitgeist when they when they become almost like a lucky lexicon like they become a verb like I'm gonna google that or you know it's the Uber of this that or that you know that's that's something special and those are usually stocks that have gotten very long runways. Scot: [16:44] Yeah and I'm here in North Carolina and we have all these MBA we have all these universities and I was actually speaking earlier this week at MBA class over at Duke. And you know I have this whole little joke track that I do where I talk about my first company was profitable and I learned I could never raise VC because get the TV season that's a your profit we don't invest in property companies so yeah I often joke that I've been doing it wrong and ever since then I haven't made a dime. And I kind of thought it was those funny because you kind of. The internet sector was kind of early before SAS where and you point this out where there's kind of you know what we learned is there is an investor that loves Revenue growth and in a way that the opposite side of that coin is it can actually hurt you if you start to make profits maybe share with listeners that that you know probably many of them come from traditional businesses where that sounds nonsensical maybe maybe explain kind of what happened there. Mark: [17:41] Well I want to be I want to be on to get nuanced here which is you know I that chapter that says the most important thing out there is revenue revenue revenue you know for tech stocks and growth stock. But of course earnings and free cash flow matter it's that sometimes the public market is a lot longer term focused than people give it credit for Netflix is a great example that also is Amazon. I mean those those businesses had if you look at near-term valuation PE metrics price to free cash flow there's no way you would have bought those stocks. But what I think long-term growth investors realized is there's this you know when these get these assets that can grow their Top Line twenty to thirty percent Plus. From scale for multiple years like that can that creates an enormous amount of value over time and it's so rare I came up with something of a 20% rule you know it's one to two percent of the S&P 500 that can consistently grow at from scale their Top Line 20% which is like five times faster or six times faster than Global GDP growth so it's rare for good reasons but those companies dramatically outperformed the market because they're rare and it's not like growth and scale solve everything but geez they solve a lot of things I've yet to see it's got you know you go way back on this I'm sure you had these comments like Amazon will never turn a profit my first year on the street. [19:04] There's a person who's not one of the most influential investors out there put his finger in my chest. And said you know Amazon will never be profitable and you know I guess he must have been writing he was so smart but he was wrong because he didn't realize just what how powerful Amazon could be as it's scaled over time I mean you generate billions and billions in revenue and you can you can run over a lot of your fixed costs as long as you're not selling dollars for 95 cents you know if you're you know if you're selling them for a dollar and two cents and then you get scale against your fixed cost yeah scale will solve just about anything and I look at what happened with Amazon and I've looked at more much more recently its bring it up to up to date to Uber Uber just printed its first free cash flow quarter ever even though it's Rideshare businesses like down 40% since Pre-K covid levels how the heck did they do that because it took a lot of costs out of the business and then they had this delivery business that really scaled so look earnings matter it's just that when we look at tech stocks and growth stocks you know especially early on is IPOs they rarely go public. As profitable businesses the question you have to answer yourself is can they be profitable long-term are there companies that are already you know similar business models that are already are that's one way or their segments of the business that are already profitable. [20:19] Is there a reason that scale can't drive profitability for the company and the fourth what I call profitability Action question that detail this in a book is yo Are there specific steps steps that the management team can take to bring the product the company to profitability so I've yet to see a company. [20:36] And I'm sure there are some but I've yet to see one that hit the public markets that couldn't scale itself to profitability now some blew up. Well you know that's because they couldn't hit the enough scale so that's that's kind of my answer to the question of yes of course earnings and free cash flow matter at the end of the day that's what they're going to be valued on but just watch these companies that they really execute well they can take what looks like really aggressive valuations and overtime those valuations can turn awfully awfully attractive and a lot of times the stock wealth creation goes from point A to point B it doesn't start at point B. Jason: [21:10] Yeah the you know it's you mentioned then the Netflix. Effect on the cultural zygous fun fun stat on Queen's gamut it drove the sale of millions of chessboard and caused hundreds of people to start playing chess. I do one of the things that comes out strongest in in the book to me and that you alluded to upfront is sort of the difference between trading and investing. You know I always have people come up to me and they're like hey you know a lot about these retail companies what's a good investment and I'm like. I have no idea can you can you talk a little bit about sort of what you mean by sort of fundamental investing versus trading. Mark: [21:56] Well I sum it all up in the pithy expression don't play quarters I find playing quarters is almost a Fool's game the number of times I get questions you know what should I buy for the quarter and for little sophisticated institutional investors that could be I've got a position in. [22:15] Amazon or Google or Twitter and you know do I should I be you know heading into the position prior to earnings or you know facing back and adding to it more afterwards okay that's a different setup but if you're just playing a company for that quarter pop the problem is quarterly earnings reactions there's two things that drive them. Fundamentals great get the fundamentals right that it's expectations so the quarter trades are really about expectations you may get the quarter right you may be right that Nvidia or Roblox are going to have super strong quarters because I see how many of my friends kids are all over Roblox you maybe well right on that but you have to know you know what the market is actually expecting and numbers can go Revenue can accelerate but if the bar is higher than that then you're going to see these stocks trade off it happens a lot so I just unless you're unless you're a pro less you're in day in and day out. You know working working these stocks and really have a sense of where the expectations are. I think it's just a Fool's game to play play stocks just four quarters instead you know you want to stick with stocks for the you know you want to find an asset that you think is going to be. [23:29] Materially bigger in two to three years down the road and you think it's high quality based on some of the screens I threw out then stick with that name and don't try to play around the quarters and it's in fact sometimes you can use weakness or strength around the quarter to adjust your position but don't use it too initiator close out a position at the then you fall trap to these expectations game that is very hard to participate in if you're just a regular you know retail investor and you can make just as much money just staying invested in some of these great assets. Jason: [23:59] That is great advice and it's I certainly resonate with the sticking with the Investments I am curious though on the other end of that on the really long Horizon you mentioned you've you've been had a buy on Amazon for like 15 years. Wait. Like are you going to have a buying them for the next 15 years is that how I mean like does there come a point when they achieve their potential and you have to start worrying about them getting on the other side of the Hill. Mark: [24:26] Yeah I think you can I think you can one look for the fundamental towel and so I'm going to I'm going to spin over to another stock I talked about in the book Priceline. Which is actually the single best performing S&P 500 stock for like a 10 year period 2005 to 2015 phenomenal stock travel name everybody knows it William Shatner excetera although they're real secret sauce with what they did in European markets but. But that's a company that you know sustained premium growth like they were growing their bookings in the revenue 40 percent year over year for years and years and years and years and that's what powered that that that stock and when it stopped materially ah performed Market was when the growth rate decelerate it below 20%. [25:10] And so I don't want to you know create a hard and fast rule but I do feel strongly about this twenty percent rule 20 percent you know we're close to it you know don't don't Nick me at 19.8% you know could close to twenty percent is unusual rare growth. [25:23] And the markets usually pay up for that and when you see a company over time either because of Miss execution it happens or Market maturity and their growth rates you know kind of slide below 20% then that's when you reconsider your position that's a simplistic rule as a lot of caveats to that when I see with Amazon here is despite the size of this business I think they're still growing 20% for the next five years so in that if that's the case. [25:48] You know the simple rule of thumb is companies that can grow like. They can I like to see stocks that can double in in three years in order to do that you kind of have to do you know 20 to 25 percent earnings growth that's what a Maps out too. And you know you can double a stock in 3 years your handily beating the market in almost all time periods. And so when I see what it'll change my opinion really on Amazon is if I believe that this company is going to go X growth it's going to go you know well below 20 percent Revenue growth I just don't see that in the next couple of years given how much growth they have in retail in NE ws and cloud computing and in some of these really newer areas that I'm really interested in whether they really can crack the code on groceries and they can that's a large opportunity and business supplies Industrial Supplies I think that's a very underappreciated part of Amazon's business so I don't see myself changing my opinion on Amazon although you don't want things that we talked about this earlier that I love to see your founder LED companies that's no longer the case with with Amazon so that's you know at some level I've got slightly less conviction than the in the by case but I'm going to stick with it as long as the numbers prove out right and long as I can see this path that's consistent 20% Revenue. Scot: [26:59] Yeah and this is kind of breaking out of the book thing but since you brought up Amazon it wouldn't be a Jason Scott show if we didn't kind of double click on that what did any thoughts on the Q2 and Q3 earnings feels like they're slowing down a bit and feeling some of the labor and see what we call Supply pain on the show are you are you getting nervous about it or you think it's just a little one of their little kind of investment phases. Mark: [27:23] I called the six billion dollar kitchen sink that's how much lower their guidance was for operating income in the December quarter then then what the street was looking for like she was looking for close to eight billion and they guided to billions six billion dollar kitchen sink and they threw it all in there wage inflation you know you right you drive that route 95 on the east coast and you'll see Amazon Amazon is hiring Billboards up and down the East Coast Seaboard I did it recently so yeah they're aggressively hiring at higher wages that's impacting their margins there still some covid related cost shipping they're just not able to a sufficiently source and bring in product and so they have to bring in product into the the ports that aren't optimized for their distribution Network so just a lot of. [28:14] Positive blowing up now the question you have to ask yourself as an investor is are those are those cost increases elective structural discretionary temporary it's kind of like which of those are they the more that you can make a determination that the cost bikes are temporary the more you stick with the name if you think there's something structurally changed about Amazon okay that's different I don't think there's anything structurally changed about Amazon and certainly not its competitive position and then the last thing what I really like to see. [28:44] Frankly is this company. I mean the level of investment this company is making its distribution Network you know you talked about Facebook earlier they're dumping 10 billion into the metaverse which I think there's a there there but I don't know Amazon is dumping billions and billions into its own Logistics Network like they're doubling down on their core competency you bet I'll stick with that and what they're going to what's going to come out of that is even faster and faster delivery and they're going to prove out this concept what I call shipping elasticity the faster you ship the more that people are going to use you in a more of their of the more of their wallet and per-share you're going to Amazon's going to get so we're going to actually going to Super up one day delivery and then they're going to Super up super same day delivery and I think they'll be able to just grab more and more and offer more and more products to people so I like those kind of investment initiatives so I think a lot of that margin pressure by the way it was really due to these kind of elective investments in the infrastructure they added more distribution capacity the last two years than Walmart has in its history. That's how aggressive Amazon is being an eye you know my guess is that third we're going to see dramatic market share gains from Amazon in the next 12 months so I like those companies that kind of really lean in bendin and the double down on our core competency that's what the Amazon is doing now. Scot: [30:00] Yeah. The Press is making a lot of noise around Shopify versus Amazon and Shopify is kind of amplifying that with they're arming the rebels and everything. Jason Connor makes our I won't say his thing but he's not a believer in that I think it's kind of interesting in there's definitely no love lost between the company's what what's your take on that is that a real battle or is that just kind of genda by to kind of raise awareness for Shopify. Mark: [30:26] You have a quick point of view on that Scott. Scot: [30:29] I think Shopify becomes a Marketplace adjacent thinks that's crazy Jason what do you what I'll let you state your own opinion. Jason: [30:38] Yeah I mean I think Shopify is a phenomenal company and a good executor so I'm not throwing rocks at Shopify. They're to me they're not a competitor to Amazon they don't acquire customers they have no traffic there there. Piece of infrastructure and a great valuable piece of infrastructure but a piece of infrastructure. Doesn't draw any customers in so I call these people that are like oh man they're like Amazon they have all this aggregated gmv and they could sell ads to it and they can you know recruit more sellers because they have this this audience and all these things will they don't have any of those things they don't have a single b2c marketer. In their company and I would argue that's that's been one of Amazon's Court competencies is they've they use the flywheel to build this this huge audience that they get to sell all the. Their goods and services to so I just I don't think. They compete in any in any meaningful way and I think if Shopify were to try to become a true b2c company like Amazon. It would just be a phenomenal pivot it would be you know. Can't you know obviously they have the resources to fund trying for it but I'm not sure that's the best move for them. Mark: [31:57] Yeah I don't so I Do cover Shopify I've been really impressed with them I don't know them as well as I know Amazon but I've been super impressed. With them and terms of the product development and they are just providing more and more services to small Merchants so I think there's an are now bigger than eBay in terms of GM vo but I can never there's not enough disclosure to figure out so where's that GM D coming because I think some of that probably does come through eBay so a little bit of double counting that goes on in there but it's really impressive what they've pulled together whether they can actually aggregate demand in a way that Amazon has I think that's I think that's unlikely I think that's a very hard thing to do it's possible they do have a shop app I just, yeah I guess that's the action question we often ask ourselves do you think you're going to use the shop app to shop. [32:45] I don't think so I don't think people are going to do that but you know if they can get enough people to do that boy they will have really they will have some really circled it that you know because they got the infrastructure okay they're talking about building out fulfillment and doing fulfillment for people and spending a billion dollars on it sorry my friends you're gonna have to spend a heck of a lot more than a billion if you if you really want to you know compete. Because the bar is getting higher it's not getting lower it's getting higher in terms of funeral the speed of delivery eBay learn this the hard way and so shockfights Memphis spend a lot more than that so anyway there's a lot of wonderful things about Shopify and I don't know whether if you listening to slammed on by if you think they can build up an aggregate an audience I don't think they can so does it make doesn't make it a slam dunk by it's it's you know it's a deep three point shot put it that way. And you're not Steph Curry. Jason: [33:41] I think we're going back to the basketball references in the book. Yeah it you know I tend to agree I'm not I don't think the shop app you know has attracted an audience that uses it for shopping yet it's a shipping trapping tracking app at the moment. But the it is funny like there are lots of companies that facilitate huge amounts of gmv so I think of like. Excuse me and Akamai is a. Is a CDN that's that used by almost every retailer to help help sell stuff right and so if you said well what's the CD the gmv of Akamai well it's bigger than Amazons. Um but that doesn't mean that Akamai can compete with Amazon so yeah I don't know. [34:28] I do want to go back to Amazon earnings just briefly because I you know I think a lot of the Slowdown is kind of a covid blip and I don't know if you ever think of it this way but. They're there their times in history when. It feels like the external factors aren't a big influence and and you know some companies perform really well and other companies struggle so you know there could be a year when you see Home Depot doing really well and lows struggling and you say. There's something special about Home Depot that I might be interested in investing in at the moment it feels like the external environment for retail is having a. [35:07] Sort of a consistent effect on everyone right and so you look at the industry average is you look at all of them is on Spears and they all have sort of the same shape of deceleration. That Amazon has so it's to me it's hard to attribute that to some. Some fundamental flaw in Amazon but there is one thing I noticed this quarter that it was interesting and I wanted to get your opinion about because I know as an investor you like seeing companies that have pricing power. And you know of course Amazon famously raise the price of prime a while back and seems like that was wildly successful this quarter. They've raised the price for grocery delivery there now charging ten dollar delivery fees even for Prime members. And then this week we saw that they made a pretty substantial increase to the cost of f ba which is you know the fundamental service used by almost all marketplace hours and they they just raise the price of that by like five percent and I'm curious do you look at that as a good sign that hey. They have pricing power and they're doing so well that they can command those prices or to me it's a potential warning sign because I feel like Amazon is so. Zealous an advocate of the flywheel in the flywheel is all about driving costs down to get scale up I just was surprised to see some of these like price increases in in you know. Especially grocery which isn't super mature yet. Mark: [36:33] Well I'm not sure really of the answer to your question Jason it's a it's a it's a really good thoughtful question on the on the groceries I think they raised it because the unit economics were just not working for them in terms of grocery delivery that's that's my guess they also you know yet to have that get to really crack the code on the grocery business and so I sort of see that as they tried it and it just can't right size the economics of they got to charge more for it so I read that kind of negatively what did the raising fees to sellers. But my guess is it's a mixture of things but it's largely driven that my guess is that this largely driven off of Just Rising. [37:17] You know Rising infrastructure costs have been rising shipping costs I mean Rising the two costs that they called out specifically on the earnings call my recall is correct is our steel costs because of all of that dish construction they're doing with their fulfillment centers and trucking services and so my guess is that they've they're doing is not necessarily the right size the economics is I think the economics are working but because they want to try to keep their unit economics relatively intact. And that's sort of the way I think they thought about the raising the price of prime it wasn't they did it because they could. It's they did because they sort of had to like the costs are rising it's just that what I found interesting in terms of pricing power is van acceleration in in Prime ads you know post that price increase like that and so does Netflix to me Netflix is essentially raise fees use the fees to you know generate more Revenue by more content is like a flywheel that they've worked with their make the service more bringing more users allows them to get a little bit raised money just a little bit more so it's not so much raising fees to extract excess profits it's raising fees to further accelerate growth and the value proposition is strong enough that they can do that and not lose customers that's that's that that there's this is subtle nuance and maybe it's too salty but but I think it's an important it's important difference it's not it's no it's raising pricing not to raise margins it's raising pricing to fuel growth. [38:46] And when you so either way it's good I happen to think you you want to the the better one is the latter one is a more impressive the latter one is more impressive because you're raising pricing just to Goose your margins you know you just put a Target on your back. Scot: [39:03] Reading the book made me nostalgic and maybe we'll do a little bit of a lightning round but one of the companies you wrote about that I kind of forgot about and those interesting was Zulily I remember when they came on the scene and we were all like. They were all blown away by how fast they could just get product up right they had this thing where they could. They could have most of those kids so they'd get like all these little kid models in there and throw some clothes on them take a picture and then like changed outfit take another so they could do something like you know thousand different products an hour or something. What's your recollection on Zulily. Mark: [39:40] She really is that was one of my calls that didn't work and. So I and I learned some lessons from that I think to me the lesson I drew a to do with value proposition they had wonderful cohort disclosure in their S1 when they went public I mean it was truly impressive. And you know the they also raise kind of an analytical question because the first it's not too dissimilar to stitch fix today the first three or four million customers were extremely happy the question is. Were there another three to four million customers that could be extremely happy and the problem that Zulily faced is that it customer value proposition had one major flaw which is that you couldn't return product if you didn't like it they didn't they didn't accept returns oh I'm sorry there were two problems and there was no Speedy Delivery you know you could get stuff in seven days and 20 days. That was good for the first day of the first three to four million customers who are fine with that you break into the mainstream and you mean I can't return something if I don't like it you mean I gotta wait how many days until I get something like that ended up. [40:45] And it was very hard being the survey you really had to go with gut instinct on that to realize in advance that they were going to hit a wall in their growth. Geez when you saw what happened to their growth rate when they went public it was Triple digits six quarters later they were doing 10 percent Revenue growth they hit the wall because the value proposition. Wasn't strong enough and then they end up going going private that to me was kind of a lesson which is you know the. [41:10] Growth was impressive but that value proposition if it's not if they hadn't they didn't have it nailed down and you knew from the beginning I knew from the beginning what the two Falls were I just I didn't know when it would hit them and hit them earlier than I thought so you know it gives us another reason to really focus on how compelling do you think this value proposition is how many you know will that can the can a customer base double given the existing value prop. And that's one of the big lessons if I spin it a little bit I mean that's to me is and Scott you look through this entire history like you know the first decade of the internet the king of online retail wasn't Amazon it was eBay and they had like six times seven times the market cap of Amazon that's completely changed and why is it change and I think in part it's because of the value prop I mean Amazon just beat him on price selection and convenience year in and year out and that really mattered but a more recent example in my book. [42:02] In literally and figuratively is doordash and GrubHub and that's example many people will will know but grub have that great business model wonderful investor Centric business model High margins and doordash had this you know generating tons of losses but they had the better value prop because they had more restaurants selection and the end of the day that they want and they were able to scale up and generate serve reasonable profits over time that was the case where my quick tag line is you know customer-centric companies. Beat investor Centric companies most of the time in market cap and market share Amazon versus eBay, GrubHub versus doordash those two examples really drilled that less than to me. Jason: [42:48] Yeah I've been fighting those companies because you know there. They're like increasingly overlapping with a lot of my Commerce clients and like you know a big. A big sort of disruption and commerce right now is all these ultra-fast delivery services and you know it seems pretty clear that doordash and Uber are both gonna want to play directly in that space so it seems like some of those those sectors are on a collision course to chase that Tam. Mark: [43:15] I think you're right Jason I also think Amazon I mean you're talking about logistics like that's Amazon's competency so whether you need to. Whether you're going to vertically integrate and do that or whether you going to do that virtually you know Foo you know a gig economy Network. I don't know which which is going to work better long-term but yeah and you know it's going to raise the bar and make it more and more expensive for anybody to operate in that in that segment I have a bias that Amazon in the end wins that but it's big enough of a market it's so early stage that you can have multiple winners for the next five years I don't know that you can have multiple winners for the next 10 years. Jason: [43:56] Yeah there was a funny question in the Amazon earnings call someone asked about ultra-fast delivery in the CFO kind of I thought brilliantly threw some shade on it he's like. He said something to the effect of we like where we are and ultrafast like we have one hour delivery on about 178,000 skews right now and we're you know we're going to continue to scale that and I don't know how many people follow this but all of the competitors in this space are are desperately trying to figure out how to do one hour delivery for like 7000 skus. So so like they're you know they definitely are gonna be able to leverage the infrastructure there and I'm sure they're making some big investments in that space too. Another area that's that's been kind of interesting lately and I know you've been following this little bit is obviously there are all these privacy changes and the depreciation of the third-party cookies and especially the IDF a you know mobile privacy changes. That Apple has instituted and that obviously had a pretty pronounced impact on the value of some companies like Snap recently A View you have a opinion there is that. Is that a blip or is that a systemic change. Mark: [45:08] I think it's a big pothole in the road. But it's not there but the but the it's a big pothole in the road but it's not a bridge that it's not a collapsed bridge that get that mountain out. Yeah so poor that hey yes. Yes it is yeah that's it that's pretty I mean that's a big pothole that idea Fay allowed Facebook to offer amazing attribution to millions and millions and millions of businesses and now that's gone and and and to their credit to Facebook's credit they warned about it for a year two snaps discredit they didn't warn about it ever and so that's why their stock went off you know 22 decline 25 percent whereas Facebook stock even the numbers came in weaker than expected you know kind of fell off to the 3% and by the way then is traded up above where it was at earnings time so what I mean very intrigued by is I think it will be a son of that idea of a. [46:12] You know child of idea say I like I think there's so much at stake here both from the advertising platforms like Facebook you know and Google's to some extent a little bit and Snapchat but also for you know the millions of marketers out there who you don't you were able to thank thanks to Facebook use of people's privacy data you know from right or wrong I mean that's what that's what they they did I mean this help Merchants really know which of their campaigns worked and allow them to you know run creative and that creative could be automatically you know a be tested abcdefgh like 8 times 8 different ways in which ever those creatives work best. You could actually beat successful one of them then you can just pivot all of the dollars behind that one campaign you know campaign h for campaign be your campaign e.e. and that's just a wonderful way to help these small businesses you know really succeed and that's been taken away now you know there's I think there's first a little bit of shock shoot I can't get the attribution I had I'm going to pull a my marketing dollars but marketers got a market. [47:13] And I think you're going to see those dollars come back and my guess is that Facebook and other companies are going to find some way to do. Better targeting they may not quite get to idea that a type of levels but they were going to be able to do some sort of audience targeting they also have a lot of first-party data but they'll be able to do it in a way that doesn't that you know respect people's privacy and yeah you'll see those dollars come back so that's why I referred to as a pothole I it's a big pothole it's but it's not that it's not a bridge that just collapsed you know you're going to be you can they can they got stuck in that pothole more than anybody else but you know the cranes there whatever they're getting a tow trucks they're they're getting out of it they got to do some nobody work they'll fix the car and it'll be back on the road in part because they've got the talent to do it but in part because there are millions of small businesses that are given to going to give them the incentive to do it because they'll get those marketing dollars back once they figure out some of the idea that a. Jason: [48:09] Yeah I always like to remind people that are like The Skys Falling on the advertising industry that you know. It wasn't very long ago that we had much worse targeting than than we have in digital even with idea of a I mean targeting used to be deciding which publication you were going to print your ad in. And they still got a lot of money in the advertising industry so like I kind of suspect that that marketers are going to figure out you know the best ways to invest their money even if it maybe isn't quite as. As real-time as people got used to for a short while. Mark: [48:42] I think you're right Jason. Scot: [48:45] So Mark you in the book you recap kind of this awesome 25-year career and you know one of the things I've learned is if you're in the game of making predictions you know that it's kind of humbling but then you kind of slowly but surely get better at it right you never get to kind of you know a hundred percent but over time you get better and like like for example you learned the lesson of. The companies that are customer focused to do better than investor focused think founder based in that kind of as you as you take those backward 25-year learnings and project them forward what are some of the things that you get excited about looking out the next five or ten years. Mark: [49:23] Well in terms of Trends even the next year or two I think whoever solves. Marketing attribution is going to be worth a lot more in two years than they are today just because there's so many businesses so many marketers that will pay for that. So I you know so that's that's kind of a debt that whoever whoever fills in the pothole that's going to be a very valuable company it's going to be a lot more valuable to years and it is today my guess is that there's gonna be Facebook so I'm interested in that then there's thing this thing called The Medic verse which I don't know this is just virtual reality just renamed do a Google Trends search on metaverse just watch that just spiked up in the last love so you know you kudos to the person who came up with that idea may be excited maybe Jason or Scott maybe was you I. Jason: [50:09] It's just a rebranded second life. Mark: [50:12] Okay and. But but you know the fact that it was two things that kind of struck me there's some pretty big companies throwing a lot of big money at metaverse you know Facebook Microsoft there's a bunch of others and then there's this Roblox generation people young people who are perfectly comfortable living in the meta verse in virtual reality and. [50:38] You know participating in concerts safely and you know and shopping and communicating and entertaining and learning. [50:49] And learning through the metaverse and so you know we knows 8 18 year olds you know get out into the real world you know they're going to be perfectly comfortable in the meadow verse maybe not the way you know not the way that we will naturally be but you know though they'll help us figure it out and so so I'm really intrigued by the metaverse I think it is going to take 5 to 10 years because that to really develop and I'm trying to trying to figure it out who the big winners are but but I'm very intrigued by that. [51:18] Yeah I'm also got one of those oculist you know I've gotten two different versions Generations the it's the iterations of the Oculus Rift and you know i-i've always it's kind of like when I first saw the Kindle you know the first Kindle I ever got was pretty darn kludgy but you know I just love the idea that you could just download any book on the your kludgy device will you know whenever you whenever you were in a Wi-Fi area and and I and you and you just saw how that device got better and better each iteration and so I just think about that with these with these virtual reality headsets I mean they're clumpy their clunky their kludgy it's kind of embarrassing to be have a picture of you taking them but you know just you can imagine already know how much they've improved over the last couple of years and just think ahead is it possible the next five to seven years it's going to be just it's going to be like putting on a pair of sunglasses I think that's what we should be thinking about if you can easily put on a pair of sunglasses and and enter the metaverse and have you know share a virtual you know in presence experience that sounds but that sounds odd or not but you can do that, I think a lot of people will do that and you know the education the work applications around that so I'm very intrigued by that. Jason: [52:28] So you're saying that that could be chewy.com to Google Glasses pets.com. Mark: [52:36] Yes yes I love that yes I hadn't thought about that way yeah and by the way I've got my Google Glass here you know I'm. Got that I got that early version I got the Amazon Fire Phone you know but just be the the early failures sometimes see these I mean they're kind of in the right direction I don't know exactly what there's a there's a backstory to Google Glass that we only partially know but anyway they have the concept is there and and you know the big iterations that these products do get better and as they get better easier cheaper lighter cooler you know like Main Street cooler not Silicon Valley cooler then then markets can appear. Scot: [53:17] I think that's something the three of us have in common I think the three of us are probably the only people that ordered and probably still own an Amazon Fire Phone. Jeff Ellis. Mark: [53:29] And I've Got My Socks.com puppet to it's in my office I put the hits I got it as a warning. Scot: [53:31] I have one of those too yeah we all I guess we all have one of those too. Jason: [53:36] That that puppet ended up being the most valuable asset from pets.com sidenote like I don't know if you followed it but there was there was there was a whole intellectual property fight with Triumph the comedy dog and all that stuff yeah. Unattended value unintended value creation. Scot: [53:53] Mark were you you know we've used up about an hour of your time we really appreciate you coming on the show to tell us about the book when's it come out where can people find it do you do you want them to order from that Seattle bookstore that we've been chatting about. Mark: [54:09] So yeah and thanks Scott Jason I've always enjoyed listening to your show I did tell you it beginning I your analysis recently all birds and Warby Parker I took the heart because I initiated Warby Parker as an analyst but I after after I've seen what your thoughts were on it. So thanks for having me on the show and to talk about the book nothing but Net 10 Timeless stock-picking lessons from one of wall Street's top Tech analyst I just like to nothing but net on a big Hoops fan. And my kids are hoops and that's been my email pack lines there's a lot of meaning for me in that that title it is available wherever fine literature is sold it is available on Amazon it's the it's a top bestseller now and in the business category so I've been I've been just it was just a it was a labor of love for me and throw like a chance to talk with both of you about it because you've lived through the sister just as much as I have and it's fascinating the lessons we can draw from. Jason: [55:01] Well Mark is been entirely our privilege and it's a great sign that you know just halfway through your career you had enough material for an amazing book so I can't wait to read the the sequel after the next half. Mark: [55:13] All right I will talk with will do it again in 25 years. Jason: [55:18] I'm booking it right now. Scot: [55:20] Bring our sock puppet are and pets.com puppets in our Amazon Fire Phone. Mark: [55:24] That's. Jason: [55:25] Yeah everyone else will be living in the metaverse at that point in no one's going to get it but it's cool. But Mark really appreciated your time and until next time happy commercing!

Venture Stories
Transforming Corporate Finance and Working with Investors with Joe Garafalo and Trevor Oelschig

Venture Stories

Play Episode Listen Later Nov 23, 2021 31:39


Joe Garafalo, co-founder of Mosaic, and Trevor Oelschig, managing director at General Catalyst, join Erik on this episode to discuss: - How Mosaic is building the future of tooling for modern finance teams and how it started from the team's time at Palantir.- Why finance has to be the connective tissue for the organization, given that they have a vantage point on the whole company.- Why a CFO needs to have a skillset in data science or computer science.- How to work with your investors effectively and what companies should expect from their venture firm.- Why to think of your relationship with investors as a marriage, the importance of transparency, and the concept of the “trust battery” that gets recharged or depleted as you work with someone.Thanks for listening — if you like what you hear, please review us on your favorite podcast platform. Check us out on the web at www.villageglobal.vc or get in touch with us on Twitter @villageglobal.Want to get updates from us? Subscribe to get a peek inside the Village. We'll send you reading recommendations, exclusive event invites, and commentary on the latest happenings in Silicon Valley. www.villageglobal.vc/signup

CFO Weekly
How to Attract and Retain the Best and Brightest Talent w/ Naveed Tejany

CFO Weekly

Play Episode Listen Later Nov 23, 2021 44:50


Engagement, transparency, trust, and communication. Do these values sound familiar to you? Many businesses claim them as part of their culture, but not many follow them. And at the end, they wonder why people leave. Attracting and retaining talent has become more than a simple technical process. To get the best, you need to go beyond the common. How to do that? Our guest today reveals some valuable insights. Naveed Tejany is the CFO at OJO Labs. As CFO, Naveed oversees financial reporting, financial planning, corporate development, and business operations. Over the years, he has recruited top talent and established critical financial and human resource systems. Under his leadership, the company has raised over 130 million dollars in venture capital from top-tier mission-aligned investors. They have also successfully acquired and integrated four companies. When looking for investment partners, Naveed understands that raising capital from the right partner is critical. In this episode, we discuss: - OJO's distinctive business model - How to hire the best talent for each role - Insights on how to retain talent - The contribution of engagement and transparency in retaining talent For more interviews from the CFO Weekly podcast, check us out on Apple, Spotify, or your favorite podcast player! Presented by Personiv https://insights.personiv.com/cfo-weekly

Thinking Outside The Bud
Matt Melander, President, CFO, LEVIA

Thinking Outside The Bud

Play Episode Listen Later Nov 23, 2021 31:13


Matt Melander, President, CFO, LEVIA Following a decades long career in the securities business, Matt came to LEVIA with a desire to be part of something from the very beginning. In early 2018 he met the Brosnans and Rogers through a former colleague and was quickly wrapped up into the ever changing world of recreational cannabis, and the vision of bringing superior cannabis infused beverages to Massachusetts. Born and raised in Acton Massachusetts, and now living in Marblehead, with his wife Beth Ann, daughter Elorie, identical twin sons Wells and Grey, and golden retriever Basin, Matts connections to the area run deep. He has tremendous pride in building a local business and its ability to support the community. Away from LEVIA, you can find Matt hanging at Higgins Beach in Maine, chasing a golf ball, or working with the Bruyette Family Foundation on a myriad of charitable causes. http://levia.buzz/ https://www.instagram.com/leviabrands/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Lemme Be Brief
Rick Wise: Senior Principal and Director of Architecture, Clark & Enersen

Lemme Be Brief

Play Episode Listen Later Nov 22, 2021 15:17


China Unscripted
#142 Behind the Curtain: China's Capture of the Michaels

China Unscripted

Play Episode Listen Later Nov 22, 2021 58:22


In December of 2018, Canadians Michael Spavor and Michael Kovrig were arrested in China, allegedly on spying charges. This happened days after Canada's detention of Huawei executive Meng Wanzhou at the request of the US. Meng was accused of lying to British bank HSBC about Huawei's affiliate Skycom and its connections to Iran, which put the bank afoul of US sanctions. Meng fought the US's extradition request, and in September 2021, the Biden administration worked out a deferred prosecution agreement with Meng in return for her admission that she misled HSBC about Huawei's relationship with Skycom. In this episode of China Unscripted, we are joined by Fen Hampson, the chancellor's professor at Carleton University and president of the World Refugee & Migration Council, and Mike Blanchfield, the international affairs writer for The Canadian Press. They are the authors of the book: The Two Michaels: Innocent Canadian Captives and High Stakes Espionage in the US-China Cyber War.

Inside the ICE House
Episode 271: LevelTen CFO Ross Trenary is Turning Renewables up to 11

Inside the ICE House

Play Episode Listen Later Nov 22, 2021 47:56


Ross Trenary is CFO of LevelTen Energy, a leading provider of transaction infrastructure for the renewable energy economy. In October, ICE joined in the company's Series C funding to broaden its reach into new markets. From punk rock to finance, Ross explains how complexity and chaos are connected & why it's important to be your authentic self. He discusses the trends affecting energy markets, in the role a CFO plays in shaping a company's growth, & how sustainable finance is reshaping how we power our lives.   Inside the ICE House: https://www.theice.com/insights/conversations/inside-the-ice-house

The Modern Therapist's Survival Guide with Curt Widhalm and Katie Vernoy

Peer Support Specialists An interview with Kemisha Fields, MSW, Amparo Ostojic, MPA, and Jeff Kashou, LMFT on what peer support specialists are and the value they bring to treatment teams, as well as the challenges and best practices in implementing these roles into clinical programs. Curt and Katie talk with Kemisha and Amparo about their experiences in these positions, exploring how their lived experiences created the successful integration of a more holistic approach to support clients. We also talked with Jeff about his journey in implementing one of these programs from scratch.   It's time to reimagine therapy and what it means to be a therapist. To support you as a whole person and a therapist, your hosts, Curt Widhalm and Katie Vernoy talk about how to approach the role of therapist in the modern age. Interview with Kemisha Fields, MSW, Amparo Ostojic, MPA, and Jeff Kashou, LMFT Kemisha Fields, MSW: Kemisha Fields was born and raised in South Los Angeles, CA. As a former foster youth, she has taken a professional interest in the commitment to serving the needs of children and families as a Children's Social Worker working in Dependency Investigations. She has studied many modalities to bring healing to those in need. Kemisha is a life, long learner inspired by the abundance of opportunities available to enrich the lives of the people she serves. She earned her Bachelor of Science Degree in Psychology from the University of Phoenix. She received her Master of Social Work degree from the University of Southern California. Currently, Kemisha is a Doctoral Student of Business Administration with an emphasis in organizational leadership. She has extensive experience working with children, families, and individuals as an agent of support and guidance. Kemisha has a strong background in case management for an array of populations inclusive to at-risk youth, individuals with intellectual disabilities, commercially sexual exploited children, victims of trauma, and families within the dependency system. As a lead Dependency Investigator with Los Angeles County Child and Family Services, she has direct practice with assessing for child abuse and neglect in hostile environments. Kemisha works directly with County Counsel to investigate and sustain infractions of the Child Welfare and Institutions Codes. Jeff Kashou, LMFT: Jeff Kashou, LMFT is a manager of clinical product and service design for a mental health tech company that provides telemedicine to those with serious mental illness. Previously, he ran a county mental health program where he helped develop the role fo peers for adolescent programs county-wide and collaborated with peers to create management practices to support their professional development. In this position, Jeff developed a practice guideline for the utilization of peers in behavioral health settings for the County of Orange. Jeff has also served on the Board of Directors for the California Association of Marriage and Family Therapists, where he helped lead the association to support the field of Marriage and Family Therapy and those with mental health issues. He consults as experts in mental health for television productions, to ensure the accurate and helpful portrayal of mental illness and treatment in the media. Most recently, Jeff and his wife Sheila wrote a children's book, The Proudest Color, that helps children of color cope with racism that will be on shelves this Fall. Amparo Ostojic, MPA: Amparo Ostojic is a mental health advocate with personal lived experience. After working for the federal government for ten years, she decided to pursue her passion in working as an advocate to help promote recovery in mental health.  She has worked as a peer specialist for a mental health clinic as well as volunteered leading peer support groups. Amparo has a close connection with the Latino Community and feels it is her duty to do everything possible to prevent and reduce the suffering of individuals living with a mental health condition. Amparo created a Spanish speaking support group in East Los Angeles to offer free peer support to members of her community. Amparo has a bachelor's in business administration and a Master of Public administration. Amparo is a certified personal medicine coach and is working on becoming a National Certified Peer Specialist (NCPS). In this episode we talk about: What a peer support specialist is, how they work What peers can uniquely bring The hiring process, qualifications, and what that means for individuals seeking these jobs The difference in perspective that peer and parent partners can bring to treatment teams The importance of lived experience Comparing holistic versus medical model treatment The medical model and the recovery model complement each other The importance of advocacy for individuals (with the support of the peer support specialist) How peer support specialists are best integrated into treatment teams and programs The potential problems when the peer support specialist role is not understood How someone can become a Peer Support Specialist Certification and standardization of the peer support specialist role SB803 – CA certification for Peer Support Specialists Legislation Ideal training for these professionals How best to collaborate with a peer support specialist What it is like to implement one of these programs The challenges of hiring a peer support specialist Exploring whether there are systems in place to support peer support specialists with their unique needs The recommendation for a tool kit and a consultant to support programs in implementing best practices The Recovery Model and peer support specialists in practice Multidisciplinary teams may have pre-existing bias and prejudice against folks with lived experience, the role of stigma in the interactions The shift that happens when peers become part of the team (specifically related to gallows humor and the separation of “patients” and “providers”) Demonstrating the value of this role and the use of the recovery model Prevention and Early Intervention How to be successful with peer support programs and the benefits at many different levels Our Generous Sponsor: Trauma Therapist Network Trauma is highly prevalent in mental health client populations and people are looking for therapists with specialized training and experience in trauma, but they often don't know where to start. If you've ever looked for a trauma therapist, you know it can be hard to discern who knows what and whether or not they're the right fit for you. There are so many types of trauma and so many different ways to heal. That's why Laura Reagan, LCSW-C created Trauma Therapist Network.  Trauma Therapist Network is a new resource for anyone who wants to learn about trauma and how it shows up in our lives. This new site has articles, resources and podcasts for learning about trauma and its effects, as well as a directory exclusively for trauma therapists to let people know how they work and what they specialize in, so potential clients can find them. Trauma Therapist Network therapist profiles include the types of trauma specialized in, populations served and therapy methods used, making it easier for potential clients to find the right therapist who can help them.  The Network is more than a directory, though. It's a community. All members are invited to attend community meetings to connect, consult and network with colleagues around the country. Join our growing community of trauma therapists and get 20% off your first month using the promo code:  MTSG20 at www.traumatherapistnetwork.com.   Resources mentioned: We've pulled together resources mentioned in this episode and put together some handy-dandy links. Please note that some of the links below may be affiliate links, so if you purchase after clicking below, we may get a little bit of cash in our pockets. We thank you in advance! RAND Report: How to Transform the US Mental Health System Los Angeles Times Op-Ed: Our mental health laws are failing Wise U Training for Peers Advocacy through Cal Voices ACCESS Program SB-803 National Certified Peer Specialist NCPS Excellent guides and toolkits on how to integrate peers in clinics: Association of Home Social Rehabilitation Agencies Meaningful Roles for Peer Providers in Integrated Healthcare Toolkit Philadelphia Peer Support Tool Kit   Relevant Episodes: Fixing Mental Healthcare in America Serious Mental Illness and Homelessness Psychiatric Crises in the Emergency Room Advocacy in the Wake of Looming Mental Healthcare Work Force Shortages   Connect with us! Our Facebook Group – The Modern Therapists Group  Our consultation services: The Fifty-Minute Hour Who we are: Curt Widhalm is in private practice in the Los Angeles area. He is the cofounder of the Therapy Reimagined conference, an Adjunct Professor at Pepperdine University and CSUN, a former Subject Matter Expert for the California Board of Behavioral Sciences, former CFO of the California Association of Marriage and Family Therapists, and a loving husband and father. He is 1/2 great person, 1/2 provocateur, and 1/2 geek, in that order. He dabbles in the dark art of making "dad jokes" and usually has a half-empty cup of coffee somewhere nearby. Learn more at: www.curtwidhalm.com Katie Vernoy is a Licensed Marriage and Family Therapist, coach, and consultant supporting leaders, visionaries, executives, and helping professionals to create sustainable careers. Katie, with Curt, has developed workshops and a conference, Therapy Reimagined, to support therapists navigating through the modern challenges of this profession. Katie is also a former President of the California Association of Marriage and Family Therapists. In her spare time, Katie is secretly siphoning off Curt's youthful energy, so that she can take over the world. Learn more at: www.katievernoy.com A Quick Note: Our opinions are our own. We are only speaking for ourselves – except when we speak for each other, or over each other. We're working on it. Our guests are also only speaking for themselves and have their own opinions. We aren't trying to take their voice, and no one speaks for us either. Mostly because they don't want to, but hey.   Stay in Touch: www.mtsgpodcast.com www.therapyreimagined.com Our Facebook Group – The Modern Therapist's Group https://www.facebook.com/therapyreimagined/ https://twitter.com/therapymovement https://www.instagram.com/therapyreimagined/   Credits: Voice Over by DW McCann https://www.facebook.com/McCannDW/ Music by Crystal Grooms Mangano http://www.crystalmangano.com/   Transcript (Autogenerated)   Curt Widhalm  00:00 This episode is sponsored by Trauma Therapist Network.   Katie Vernoy  00:04 Trauma therapist network is a new resource for anyone who wants to learn about trauma and how it shows up in our lives. This new site has articles, resources and podcasts for learning about trauma and its effects, as well as a directory exclusively for trauma therapists to let people know how they work, and what they specialize in so potential clients can find them. Visit traumatherapistnetwork.com To learn more,   Curt Widhalm  00:27 listen at the end of the episode for more about the trauma therapist network.   Announcer  00:31 You're listening to the Modern Therapist Survival Guide, where therapists live, breathe and practice as human beings to support you as a whole person and a therapist. Here are your hosts, Curt Widhalm and Katie Vernoy.   Curt Widhalm  00:47 Welcome back modern therapists. This is the modern therapist Survival Guide. I'm Curt Widhalm with Katie Vernoy. And this is part four of our special series of fixing mental health care in America. And today, we are shining a spotlight on peer support specialists and the role that they have in our behavioral health care system. And a lot of the advantages that these kinds of roles bring in, as well as some of the difficulties of getting peer support implemented despite a lot of very positive evidence in their role in treating mental and emotional disorders that happen in our world.   Katie Vernoy  01:27 I'm really excited about this particular episode, we've got two sections. The first one is we're joined by two folks who've worked in the peer support specialist role who are both still in social work and in advocacy. First off, we've got Kemisha Fields, who's a Master of Social Work who is was actually somebody I worked with, and she did a great job in one of the programs I was running. And then also person I was introduced to by one of our amazing friends of the show on Amparo Ostojic, who is an MPA and also someone who works in advocacy specifically about peer support specialists. So I'm really, really looking forward for all of you to listen to that and learn about what that role is. And we recognized also and I, I had a little bit of this, but Jeff Kashou LMFT is someone who has in the past actually implemented one of these programs, and he was able to talk with us about what it was like as a director, putting those things together. So take a listen.   Kemisha Fields  02:30 So my name is Kemisha Fields. I enter social services call for like 17 years ago, I took a entry level position at a homeless shelter. So that was my entry into social services. And from there, I've just kind of progress and work my way up. And I've worked with different populations. So I've worked with the homeless population. I've worked with individuals who are struggling with substance abuse. I worked in recidivism. I've worked in community mental health, and now I'm working in the child welfare system.   Amparo Ostojic  03:10 So my name is Amparo Ostojic. And I've been in mental health advocacy and peer support. For the last four years, I have worked to increase awareness about mental health, especially in the Latino community. And I worked as a peer support specialist for a mental health clinic for about seven months, I currently still do advocacy in the mental health space. And I work with individuals that want to know more about how to live, a quote unquote, normal life, even with my severe mental health condition.   Curt Widhalm  03:50 A lot of mental health clinicians, they may have heard of a peer specialist. I have found that a lot of my travels and talks in therapist communities that many people don't know what a peer specialist does, can you help us understand what a peer specialist does what their role is in the bigger part of the treatment systems.   Amparo Ostojic  04:13 So a peer specialist is basically a role model of positive recovery behaviors. So it's meant to give hope to someone living with a mental health condition and help them not feel as alone in this recovery process. So, in essence, a pure specialist will share their personal lived experience of mental health and oftentimes offer examples of what it's like to deal with a condition. And you know, what they've done to get better, such as tips or a really useful tool is, for example, the living successfully plan or the wrap plans, where you go over with a client what it is like to be in a healthy space, what it's like to see warning signs, and when it's time to call your psychiatrist or go to the hospital. So kind of teach them about themselves and guide them in their self determination of managing their their health condition.   Katie Vernoy  05:17 So you're really talking about from a place of your own experience and knowledge helping someone to plan for themselves,   Amparo Ostojic  05:26 right. And a lot of it is teaching them to self advocate for themselves, and put themselves in the driver's seat of their health condition. So for example, a lot of times, it's kind of directed from the top as if the psychiatrist or therapist is telling them what to do, or kind of teaching them what they should do. Whereas if your specialist is on the same level, and there's no sort of hierarchy of who knows more, there's a relationship of learning from each other, and really sharing what it's like to live through this. I was given the example where it's like, Is it someone that you want to work with, like someone that's like a biologist that knows about like the forest or something or someone that lives in the forest, because that personal lived experience is really key to understanding things that someone else that hasn't experienced them wouldn't really know, or perhaps hasn't dealt with.   Curt Widhalm  06:26 When you started in this, you started as a parent partner, how was that process of getting hired?   Kemisha Fields  06:34 So the qualification for a peer partner or parent partner would be a life experience in one of the systems of DCFS, Department of Children and Family Services, probation, and I believe education, like do individual education plan. And so my entry into being a parent partner was through my son's IEP, Individual Education Plan. And, you know, it just kind of happened by chance, a friend of mine recommended me for the position and I follow through with it, the interview process, or the application process, they I was asked what my qualification to being a parent partner, so I did have to disclose some important information regarding my own experiences with my son. And we just, I remember asking, like, anybody could have kind of said, like, oh, yeah, I have this child that has a special needs, like, how did they confirm that information? So I was looking for them to kind of want some sort of documentation from me, and they didn't. And so, at the time, the executive director says, usually confirmed based on the series of questions they asked me during the interview about different programs that may have been introduced to, to my son, which I found quite interesting, like, Okay,   Katie Vernoy  08:07 how was it for you to disclose personal things to get a job, because that seems like that would be a pretty vulnerable way to enter into a position.   Kemisha Fields  08:19 Very much so and because it's the opposite of what we've always been told, typically, in interviewing process, you don't share too much personal information, just your professional history. So it was a little different. But I always been transparent with my struggles with my son. So it was it was just a little different in I didn't know this person, but it was okay. I you know, I feel comfortable through the process. And I didn't, it was okay for me to, you know, share my experiences. Being a parent of a special needs child.   Curt Widhalm  09:01 I have to imagine, and this is prior to being hired in this position. Did you have somebody serving in that kind of a role for you, somebody that you relied on while you were going through your child's IEP process and all of the struggles that that usually entails?   Kemisha Fields  09:19 That is... I love that question. I absolutely love that question and Yes, but very informal. So I did not have a formal being like, Whoa, this is your parent partner, and she or he's going to help you through this process. What I have was professionals who kind of just stepped up I had one of the very first school psychologists who helped me through the process of my son's assessment, what to look for what questions that I should ask and she helped me not on a professional level but a personal level. She kind of walked me through that process. So I was grateful for that. So I've had a lot of support with my son, just from individuals who cared enough to show me what this looks like and what questions I should be asking. So I appreciate that.   Curt Widhalm  10:20 I have to imagine that working with the mental health systems, the people in those roles, there has to be some difficulties in getting integrated into the more professional sides of the organizations, what kinds of challenges to peer specialists end up having, trying to help clients be able to advocate for themselves and fit into this professional system as well.   Amparo Ostojic  10:45 The professionals, such a psychiatrist, therapist, they usually operate from the medical model, which is very top down, like I mentioned, and it kind of has this perspective that I no more in teaching the patient how to, you know, work with medications, or live with this condition, where as peer specialists work from the recovery model, that look at everything, the main four points are home, community health, and purpose, that's really important, like your reason to get up in the morning, right? That sometimes the recovery model is not taking us seriously, it's a more kind of holistic approach, looking at the person. And in the medical model, you're looking at the condition like it's a problem to be solved. And I'm looking at the person as the whole and how their whole life could be better. So my focus may be different than a psychiatrist, their focus may be to reduce the symptoms, and let's say get rid of hearing voices, things like that, or as my role is really to make that person as a whole better. So for example, I usually medications is a big thing must take medications, or as my role may not necessarily say that I typically never tell the client, you know, don't take medications, but I really allow the client to the side that and some other parts of the medical team may not like that. But also, my role may not be taken as seriously because, for example, in my experience working with a mental health clinic, they worked with people that were homeless, and I would say extreme cases. So as someone with bipolar disorder, they kind of put me in this category that, you know, I probably couldn't offer as much. And my perspective wasn't as valuable. So it was really hard. Working with therapists or psychiatrist that saw me as someone that was in the space of like, part of the problem. I don't know how to describe it. But it was really hard, because at the beginning, I definitely felt like I wasn't taking seriously. And it took a while to gain trust, and get there super for me clients. And those were one of the challenges,   Curt Widhalm  13:01 I have to imagine some of the providers are like, you're just completely undermining all of the treatment by using trust, none of this professional experience that we've learned. How did those conversations go? Because it seems like so much of a treatment plan would be developed from, you know, the scientific and medical model sorts of approaches. And then for somebody to come in with lived experience to be able to be like, maybe the medication thing is something that you want to talk to your doctor about.   Amparo Ostojic  13:33 Well, I take medication, and there was five years that I didn't from when I was 20 to 26. And I was fine. I think, you know, I used to run marathons, I was super fit. And there was a time that I didn't think I needed medication. But then having more episodes, I realized that it does benefit me. So I never really tell a client, don't take medication. But I'm not as I guess pushy into that they may need I needed something to happen for me to sort of learn my lesson and realize, you know, it's it's easier, my life is a little easier with medication. And that may not be the case for everybody. So I definitely don't think they see it as me undermining them. But the recovery model and the medical model are supposed to complement each other. And I think that's the hesitation at the beginning. There's no better treatment or a they say they're supposed to complement each other and offer a level of understanding and acceptance and validation that sometimes the professionals can't offer because they haven't lived through that. So for the most part, I'm never, you know, moving them away from medication or therapy and validating their experience but perhaps they may tell me, you know, I didn't like my psychiatrist. And this is what happened. And I will be honest and say I've had psychiatrist that didn't work with me and didn't work for me. And I had to find a different one. Or I had to advocate for myself and say, you know, this side effect is, is not working for me, you know, maybe this is working, like, the symptoms are, you know, improving. But, you know, it's, it's making me sleepy, and then I can't get to work on time, things that are important that sometimes I think clients are afraid to say, because, you know, like, the main symptom that they're after is maybe under control. But other aspects of your life have completely lost balance now.   Katie Vernoy  15:42 Yeah, I think for me, and I was that person at one point. So   Kemisha Fields  15:46 You were!   Katie Vernoy  15:48 But I think the thing that felt very powerful when I entered into that program, and saw how it was set up was that the team had set up this structure to make sure that each member at the table was heard that each person was allowed to share ideas. I had been in other programs where folks were subjected to that hierarchy, where the therapist or the psychiatrist got the most air time, they're the ones that were making the decisions. And to me, I think, whether it was making sure that the parent partners were supervised by the director, and or really having a culture of, we are all here supporting the family. And we all equally bring important things to the table, I think it was really effective. I think we just get worried because I did see even with programs that were and maybe it was because it was intense now that I'm thinking about it, because like less intense programs, sometimes folks were using either parent partners or bachelor level providers to do like, copying and filing. And it's like, no, no, these are mental health providers, these are people who are at the table. And so to me, I think when when people are able to integrate into the team, it can be really good.   Kemisha Fields  17:05 My personality type wouldn't have allow for that, if I'm honest. Like no. And I think when you come in and you kind of demand a level of respect, you get that level of respect. So I've never had a problem, I think, in my whole career of value, my experience as a parent partner, it laid the foundation for so much of the work that I do now. So I'm still connected to a lot of those colleagues, who at the time were clinicians and I, at that time, I wasn't even I had not completed my undergrad studies yet. And we're like the best of friends. So my experience as a parent partner is one that is really great. And had you know, a lot of good things have come out of that for me,   Curt Widhalm  17:59 I want to change the conversation here a little bit to talking about how people can become peer specialists and what the certification process is like. And I understand that that's quite different in many different parts of the country.   Amparo Ostojic  18:15 Yeah, and even within California, each county has different guidelines. So first of all, California just passed SB 803, which is going to allow pure support specialists to have a certification, which will hopefully increase the use of peer specialists in mental health clinics. So 48 states now have peer certification, including California. And the, the principles are pretty much the same. But how a peer support is used in different parts of a state or country is going to vary. So it's difficult if someone moves to another state or another county, and they try to use the same principles. It may not work as effectively. And it's basically it's not standardized right now. So it's hard for someone working in that field to have many options of going to different places, and even like a client that's moving from another county and experiencing pure services in a different way.   Katie Vernoy  19:26 So if someone were to want to jump into this, where it sounds like it's starting to become more regulated, there's certification in 48 states, that's great. What does it look like? How does someone become a peer support specialist?   Amparo Ostojic  19:39 There's a few organizations that are considered certified to train for peer support. And, for example, the training that I took was an 11 day course, where, you know, like 40 hours a week, and you learn the principles of peer support. And then To become a certified peer specialist, you need 3000 hours of supervised work or volunteer experience providing direct peer support. And you need a letter of recommendation from a professional and from supervisor that has overseen your peer support. And then there's an exam that you would take and pass. And that's how you would become national certified peer specialist. And on top of that, like I said, California is still in the process of creating their peer support guidelines. So in addition to that, you know, whatever guidelines that they'll come up with will be the California guidelines for certification in California,   Curt Widhalm  20:45 a lot of research gives you more credit than being a middleman, that when we look at outcomes for treatments, when we look at treatment, we see that peer counselors, we see that parent partners are more effective towards client outcomes than even just working directly with licensed professionals. And a lot of it is due to a lot of the problems that therapists just kind of face and being approachable themselves for the mental health system themselves that there is a down to earth Ness that having that lived experience really does embody that, yes, you can get through this. And I've got some experience to be able to say that not only do I actually demonstrate that I know what you're going through, but that you can get through it, there's a way through this, that there is a light at the end of the tunnel. How do you think that peer partners, peer counselors can be trained should be trained to best exemplify that part of treatment,   Kemisha Fields  21:51 I would say they should be trained the same way that any other team members trained in I know, from a clinical perspective, there's a different type of training that comes into play. But for our child and family team specialists that you know, we have trainings, usually agencies are sending you out to different trainings, and I I believe that parent partners should be a part of those trainings, if they are not already a part of those trainings. And that should and will help them in their role as a parent partner with the life experience on top of that,   Katie Vernoy  22:32 how can therapists psychiatrists, other people in mental health clinics, support peer specialists?   Amparo Ostojic  22:38 one of the most important parts is understanding and learning to see how we can be used. I think, once you collaborate with a peer specialist, and notice the different perspective that they offer, I think both psychiatrists and peers, and mental health professionals, other mental health professionals can learn from each other. And I really appreciated that with one of the psychiatrist that he like, I could see that he really learned from me, and that gave me a lot of confidence. And I learned a lot from him. And it didn't feel like a top down relationship. And it really felt like he valued my perspective as a professional. And that helped a lot because basically just have faith in in something even if you don't understand how it works. You want to try and see how you can work with this person and encourage them to do actual peer support. If at first you don't know what to do as far as how to work with them. There's really good guides. There's one that I really recommend, that is put out by Castro. And they are basically recovery organization. And they have it's called the meaningful roles for providers in an integrative healthcare. And they really break down the different positions that peer specialists could do the different roles so like a peer navigator peer advocate, wellbeing coach is sometimes what they call it. And it really spells out things that a peer specialists can do. And it helps both the pure and the professional because they will say, you know, they could serve as a bridge between the community based organization, they could help clients in enrolling with health insurance programs, they it really spells out things that a client can do with a pure specialist, and that helps both the pier and the clinic.   Katie Vernoy  24:53 How about letting us know a little bit about if someone's interested in this I think from many different angles I wanting to advocate for better utilization of peer support specialists within mental health programs advocating for swift implementation of SB 803. For California, you know, or even this advocacy for individuals who are navigating mental health concerns themselves or with their family members, and how they can advocate like, it seems like there's a lot of lot of potential calls to action for our listeners here. What resources would you recommend that they look into, and we'll put all of those in our show notes.   Amparo Ostojic  25:33 So definitely the I would guess, I guess, I would say, one of my favorite organizations that I worked with for the past two and a half years is Cal voices. And they have different programs, the advocacy space, is access. So access stands for advancing client and community empowerment through sustainable solutions. So they're kind of a systems change perspective. And they have really great e learning toolkits that give you tools on how you would advocate for yourself and for systems change within your community. One of the great resources that Cal voices has is their Ys program, which stands for workforce integration, support and education. And they have what they call the YZ University. And it's created by peers, it's taught by peers. And this is where I got my training for becoming a peer support specialist. And they basically provide a lot of support in what a peer does. And like they have wise Wednesdays, where they provide information about something related to peer support and learning about how to, you know, either be a peer specialist or work with a peer specialist. And that's everyone's they. And so, it's a great program, because like I said, it's peers that are teaching and creating the curriculum. And I think that's just wonderful because receiving that information for someone with the lived experience is very powerful.   Curt Widhalm  27:21 Switching gears here and talking about the implementation of peer support specialists, here's our interview with Jeff Kashou. We are joined by Jeff Kashou, a licensed Marriage and Family Therapist. He's a former Service chief who oversaw collaborative behavioral health program in Orange County, and had opportunities to oversee the implementations of peer counselors into some of the programs.   Jeff Kashou  27:51 Yeah, well, first off, thank you for having me on. And I'm very much appreciated that you guys have this podcast and give the opportunity for topics like this to be covered.   Katie Vernoy  27:59 The thing that I find very interesting about these roles that I know you and I both have hired these roles, but people have to claim lived experience in order to get these roles. And so it's it's a very interesting line to walk. There's there's very interesting things there. But what do you see as the difficulties that are associated with hiring peer counselors?   Jeff Kashou  28:20 Yeah, so I think, very specifically, what makes the role unique and special also makes it kind of a unique challenge in the interviewing process? How do you ask about one's lived experience as a direct, you know, in theory qualification to have that job is what makes it a unique role to a to an organization or an agency. So I would, you know, really encourage anybody who is looking to start a peer program to bring on a consultant who can really help you think the process all the way through and how to have those conversations without inadvertently walking into equal opportunity ramifications or accidently discriminating against someone while also being very mindful that you're bringing into the room into the interview room and process someone's vulnerabilities. And so being able to manage that very tactfully and professionally, while also ensuring that this person, you know, feels comfortable to share that as well. That's your first introduction to somebody and they're interviewing you in that, that process and they want to ensure that your program has really thought through how they're going to be not just added to their system of care, but how your entire system of care embraces and is made better by having peers on board. Oftentimes peers are looked at as very client facing but really in the best situations for them are those for the entire service model is made better by their presence.   Curt Widhalm  29:48 A lot of the talk that we've had on this show about how programs barely take care of their mental health professionals within the work systems. Is there any management that is actually being put towards looking after peer counselors in this way without infantilizing them. I mean, if we're not doing this with the brunt of the behavioral health health workforce, are there other implementation problems when it comes to ensuring this kind of stuff or incorporating them into treatment teams,   Jeff Kashou  30:19 when I created a practice guidelines of like best practices for the entire Orange County systems, and not just County, but the entire behavioral health system for how to conduct supervision with peers, I leaned very heavily on a toolkit that I found from the city of Philadelphia, that there Department of Behavioral Health and intellectual disability services put together on how to create a peer support system, from the first moment you decide you want to all the way through to supervising them to managing disciplinary things to supporting their growth. And looking at it even from you know, how is the entire system set up to support them, even the interactions that they have within the multidisciplinary team, you know, they face an additional layer of potentially of scrutiny or challenges by constantly having to explain who they are, why they have any authority to work with patients or clients. So there's, there's added stress to the question or the systems in place to actually take care of them. You know, I would really look at that toolkit that the city of Philadelphia put together as sort of a way to evaluate if your system is there, I'd say, it's certainly lacking just to be completely blunt, the county that I worked for, from the children's behavioral health side was not equipped at the time to take them on effectively. And it required a lot of having to build the plane while you fly it, which I think for some roles, it's okay. I think for peers, it can add additional stress. And it means, you know, workplace ambiguity is stressful enough. But when it comes to all the other challenges of integrating them and supporting them and explaining their role, and giving them the right training, and so on, and so on. There's just another level that needs to be thought all the way through.   Curt Widhalm  32:11 How are pure counselors implemented into treatment teams, and how are their voices in actual practice, kind of placed into the role where there's a bunch of other potential licensed professionals across a wide variety of interdisciplinary systems?   Jeff Kashou  32:30 Yeah, so I can speak to my experience, and then also kind of broadly to and the research that I've done on the topic. So it's often implemented as a top down approach, it's, you know, people in leadership, saying, we're gonna add this program to our larger organization, without ever really embracing maybe the full scope of what it means to engage in a recovery service model, which is really antithetical to the principles of the peer program, you know, which is meeting people where they're at. So a system of care, really understanding from the bottom up what's happening on the ground level, that's really where the entire program began with. But the ways that they're being implemented, we have that additive approach that systems of care will take. And from a very top down perspective, oftentimes, systems need a way to recoup revenue by bringing on this workforce and, you know, supporting the work that they do. And so when it comes to Medicaid, for example, it's involving them in the billing system. So it requires choosing a diagnosis for the person from the list that the other providers have diagnosed the individual with, which is sometimes very new and a bit challenging. I think, sometimes for peers who don't want to necessarily see someone as a diagnosis. But you know, our current system of billing practices and documentation practices requires that also, multidisciplinary teams really don't know about peers, and can have a lot of prejudice as they go in. So systems need to really be thoughtful and do a self assessment before they decide to bring on this very important role, you know, on are this system set up? Or what are the prejudices or preconceived notions that other providers on the team have of people that come in with lived experience? Right, you know, oftentimes, we have that sort of gallows humor as providers when we talk about our patients or whatever. But, you know, now you have to be very mindful of that, not just because you don't want to upset somebody, but due to having that internal shift of like, you know, I actually really maybe need to check myself when it comes to that, and why I engaged in something like that in the first place. So really thinking about decreasing the stigma and helping the rest of the team even before peers come on, understand what it is that they do, the value that they add, and how they're going to be just as important of a member of a treatment team. So really leading with the why through this process. They're often brought a board you know without much structure I Which, you know, leads to them being assigned a lot of admin tasks as well. One of the things that I learned a lot when working with pure forums was that peers are often assigned, you know, a lot of filing tasks or, you know, paperwork kind of tasks, because the program wasn't really trained or made to be aware of what appear is going to do. And so managers will get, you know, assigned X amount of peers and hire them on but not really know what to do or may not have the bandwidth to train them and think through that whole job requirement. Similarly, what I experienced was, sadly, even partway through the interview process, we found out that we were actually interviewing for peers, but the program was set up, they had to find a job title or job classification that they could fit these folks within, so that we can hire them in a timely manner. And so when we were hiring mental health workers were actually supposed to be hiring peers. And so we found out midway, that we were hiring peers, which meant as managers, then we had to shift and reevaluate what we were doing which we put a lot of emphasis and fervor and figuring out and making it a smooth process as much as we could. But it was by no means ideal. And the cohort that we hired, certainly struggled with a lot of the ambiguity and sometimes just having to sit around and wait while we figured things out for them.   Katie Vernoy  36:16 You've mentioned a couple of times the the money element of it, that oftentimes these are folks who are hired to do an important service that isn't always reimbursable. And it makes me think about the value. And this speaks to the prejudice as well. But it makes me think of the value that people hold for this role. You know, they're not generating revenue, typically, or not generating a lot of revenue. They're not seen as experts, although they're oftentimes more expert than the folks in the room that are doing the treatment planning. And so what are the ways that you have found whether it's best practices or what you were able to accomplish in your program, of integrating these folks more successfully into, you know, kind of explaining the role? Like, why is it so important? What is the value of this? Because I feel like, and maybe you've already said this, and maybe this isn't needed, but it does feel like there's a case for this role. There's an importance to this role. And I just feel like maybe we need to be more direct and saying it, I don't know.   Jeff Kashou  37:25 So yeah, so there's really two directions to think of when it comes to how do you demonstrate the value, there's two those who would be, you know, deciding to bring on this role, which would be those key stakeholders. And then you also have the provider teams as well. And then I guess, there might even be a third group, which are the patients or clientele that you would be serving. So when it comes to demonstrating the value, I think the message needs to be pretty clear all the way through, which is when you're working with, you know, with individuals with serious mental illness, or those with CO occurring disorders, some of these more serious conditions, we know we preach about prevention and early intervention. And this is the rule that really helps with that. And this is the rule that allows us to make that big shift towards a recovery model, and not just pay lip service to saying that, you know, we meet our patients where they're at, and, you know, we want to, you know, improve the quality of their lives and help them reach their full potential. Now, that's, you know, a bit more idealistic and trying to sell it maybe to those that population level into the stakeholder level, but to the provider team, it's also a matter of, you know, recognizing that they will complement the services that, say, a therapist or psychologist or psychiatrist provides as well. And so it's more of like a meshing of gears versus like, people running off into separate directions, you know, where we know that metod here, it's a very important thing. Medications is a very important aspect of treatment. And if individuals, you know, go to their psychiatrist and they prescribe them an antidepressant, we oftentimes know that adherence drops off very quickly, either because the person has some sort of side effects, or because they start to feel better, and they decide they don't want to take the medication anymore. What you know, for multitude of reasons, here, the peer can actually meet with that person, you know, right after they meet with a psychiatrist, or maybe even be in the room with them when they meet with a psychiatrist. And help them ask the questions that are there might be uncomfortable asking, or ensure that they're asking the questions they didn't think to ask, creating that plan afterwards with them for how they're going to fill the prescription, how they're going to, you know, lay out their medications for the week, how they're going to make sure they maintain their motivation to take it or communicate changes that they need with their medications. When it comes to treatment adherence, you know, we assign individuals journaling to do for example, but I don't know about you guys and how often we assign tasks to to patients to do in between sessions, it's extremely hit or miss. And then you end up spending your next session processing, why they didn't do it when you'd rather be processing what they did. And so it's not to say it's 100%. But a specialist can really help with complementing services in those ways. I think ideally, we know that there's attrition, oftentimes with this population. So here's how we keep people engaged in care. I think the other thing is we think about completing goals or completing treatment plans. But that's not really the case. Again, it's not like that broken leg where your leg gets mended, and you don't have to really do anything afterwards, you have to maintain those gains for the long term to allow you then to get to those next levels of functioning, or satisfaction or fulfillment, whatever they might be. And that's where the period specialists can help somebody in the sort of aftercare discharge planning or even long, long term support through their maintenance of their goals.   Katie Vernoy  40:56 I think another element for the treatment team, and this is something where, you know, we had the conversation with Kemisha about this, but they're also an expert on the lived experience. I mean, obviously, each person's experience is different. But there's so much that I think my treatment teams anyway, we're learning from our peers, because they just hadn't been in the situation themselves. And so I think there's, there's also incorporating in that way, like here is another member of the team who has really valuable and valid feedback that you need provider. Because I think it's I think it's hard, I think it's hard to understand this. And I think that we've hidden behind a hierarchy that clearly doesn't work, we need to have, we need to have a whole bunch of human beings working on this on a level playing field.   Jeff Kashou  41:47 Yeah, I'm really glad you brought that point up, Katie, I remember, and you guys probably had to do this in your grad programs as well, where we were assigned the task of attending a 12 step meeting to understand what the recovery community is like. And we can see what these you know, non therapeutic support systems are like, and it's a way to get that experience. But we were only assigned that at one point in time, and there is so much value that appear can add in terms of to use your your point expertise in these areas, you know, the approach, I think a lot of us take in the recovery systems, you know, I will get asked oftentimes, you know, well, are you in recovery yourself? And I think as a therapist, you make your own call in terms of self disclosure. And I would say the while I can tell you yes or no, it's more important for you to tell me what your experience is like, rather than me telling you all about what your experience is like. But I think there's a way we can sort of fast track that by having peer specialists add that level of detail to us upfront so that we're not always taxing individuals to have to educate us each and every time if that's not something that supports their care in the short term.   Katie Vernoy  42:52 Exactly.   Curt Widhalm  42:54 There seems to be a lot of mixed evidence on the effectiveness of pure counselor type programs, with the United States in particular lagging behind a lot of other countries when it comes to the implementation of this, some of which is highlighted by some of the funding stuff that you're talking about within things like Medicaid, and we even see some of this going on and private insurance type programs where this stuff can't be implemented. What do you see is the difference between a successful incorporation of pure counsellors versus the ones that kind of fizzle out,   Jeff Kashou  43:32 it's going about it with a systematic approach. And that's I'd really emphasize either, you know, utilizing one of those toolkits, like I mentioned, the city of Philadelphia created, which is extremely comprehensive, and very much focused on the existing org and not necessarily on what peers need to be doing. But I think in the absence of that, it's really identifying just like with any big change that you want to make for a business, it's identifying, you know, what, you know, doing your SWOT analysis, and then looking at what is your measure? What's your success metric going to be? And how will you know you got there and then be flexible, to iterate and improve upon things as you move forward? Again, to that authenticity point, it's just like how we work with our, you know, our clientele, it's, you know, we don't expect perfect, but, you know, let's talk about what didn't go well, and let's improve upon it, we need to be able to do that authentically, as well. I think, unfortunately, in healthcare, and especially behavioral health care systems, where we're kind of the afterthought in terms of funding and attention and resources, you know, we just have always learned to make do and stay the course. And then on top of it, you have folks in power, who don't necessarily understand what we do, and they just kind of keep adding more and more stipulations and regulations and so on. And so it's also a matter of like, can you cut through some of that maybe sometimes even through the side door, like in California, we have our mhsaa funding that peer programs are oftentimes Funded there, which is very nice, and that they don't have to be capturing revenue through Medi Cal. This is through funding that has less requirements to it. But it's also pushing back and saying, do they really need to do this level of documentation? You know, so I do think it's a matter of like, thinking things through from bottom to top, like doing that assessment and really assessing yourself like, can we take this on, and being very brutally honest with yourself as a system of care, it's an exciting program, it's an exciting idea. It's one that can bring a lot of benefit. But you have to really understand what it is that you're bringing on. There's other companies that I've worked for that have said, you know, hey, we're, you know, one day down the line, we'll have peers and that way our current clientele can engage and give back, it'll be kind of a lower level service line. I think if you're thinking about it from that perspective, only, and really seeing the dollar signs as part of that image. It's not to say that, you know, money isn't the driver here, but it can't be that upfront. Otherwise, what you're doing is you're commoditizing, a service provider who is designed really to add value simply by them being there and engaging with clientele in that way, without necessarily generating dollars by increasing retention by increasing engagement in services. We know outcomes improve, when systems can demonstrate improve outcomes. Oftentimes, they're the ones that get the next grant are the ones that get the renewed contract, sometimes even a larger contract. So it's really, you know, credenza question in a short way. It's, it's all about approaching it systematically. And not just Yeah, that sounds really exciting. Let's do this.   Katie Vernoy  46:43 I think it has to be baked in, it can't be like, let's add this on to the program. It's almost like you have to build it from the ground up, to have these truly integrated into whatever the treatment program is.   Jeff Kashou  46:56 Yeah, there's kind of three different approaches that that Philadelphia tool toolbox outlines, just like that additive approach that I discussed, there's that selective approach. And then it's really taking on the one that has the greatest level of success is what's called a transformative approach, which a lot of systems are understandably nervous to take on. But to make a program successful, you have to be willing to transform things, sometimes top to bottom to make it work.   Katie Vernoy  47:21 Yeah, it's interesting, because the the program that I had, it was, it was baked in, it was like, my agency decided to do a wraparound program. And at the time, it was called an FSP. Program. And so as, you know, maybe you move clinicians into it, but it was like, here is how you do it. And it was baked in. So it wasn't like, Oh, you're already doing services, let's add this on. Functionally, maybe it looked that way. Because we had clients who then you know, like, followed their therapist, and then got these other services added on. But the program itself was well defined by LA County. And so there was discrete roles, there was training that was required. And like, especially with wraparound, there was like, a week long training where you, everybody went, and there were people from all different roles, and you went when you just first started and all the managers had to go to, so I had to go to it as well. And we would sit there for a full week and interact with other people in our same roles or in the in the peer or the you know, the all the different specialists roles. And so to me, it was, it didn't feel as chaotic because it was like it was completely structured. And it was baked in.   Jeff Kashou  48:31 Yeah, and a wraparound program is oftentimes very much set up for that, you know, they traditionally will have either bachelor's level providers as PSCs, or personal service coordinators, which truthfully appear would be phenomenal at which it sounds like that was the role that you had at your program. And because   Katie Vernoy  48:47 No we had we had bachelor's level folks, we had peers, we had a facilitator, and we had a therapist, so there was four or five people on the team.   Jeff Kashou  48:56 That's a tremendous program. You know, and we're the approach, you know, you've probably experienced this as well, the approach of a wraparound program is like whatever it takes, you know, this is a child, an individual, a family in such a challenging situation that we have to throw everything at this person that they need, and and some to get them to the, you know, to a better place.   Katie Vernoy  49:17 Yeah, yeah. I think it just is a good way to think about it as if you actually create a program from the ground up that includes these roles. I think that is stronger. I'm really glad that we're that we did this episode that we're talking about this related to our fixing mental health care in America. I know that it was mentioned in the RAND report, but I also recognize that one of the elements of this is it has been viewed. I think we did this in one of our more recent advocacy and workforce episodes as a way that we take away work from licensed credentialed mental health professionals and I really see this as an important adjunct a positive step forward. And I think we were able to really see that in the conversations that we had with our three guests today.   Curt Widhalm  50:08 And I mentioned a couple of times in the show, both this episode and recently about how little using supporting roles, like peer support specialists is actually taught as part of therapists education.   Katie Vernoy  50:22 Yeah.   Curt Widhalm  50:23 And there's a lot of emphasis on therapists education that's on what we as individuals can do to help with clients, but don't help us to look at the overall workforce system. And I'm echoing your happiness of this episode. And being able to amplify that really good. Mental, behavioral, emotional health treatments, takes a village. And it does take people from a lot of different viewpoints to really help create healing. And especially those people who have that lived experience and have a really great way of helping to help our clients interact with the system to be able to navigate it in ways that makes sense for them. So continuing to emphasize this will be part of our ongoing role in bringing mental health advocacy to the world. And we encourage you to do so as well.   Katie Vernoy  51:24 And for folks who were really interested in this, there are a lot of links in the shownotes that will help you with some of the some of these concepts, we've got the the guides and those things both onpattro and Jeff sent stuff over that are very helpful for folks who either want to be a peer support specialist or who want to implement those programs. So definitely feel free to reach out to us if can't find it on our show notes. But those things are just the really amazing resources that we were able to put down there.   Curt Widhalm  51:55 You can find those show notes over at MCSG podcast.com. And check out our social media out give us a like or a follow and schrinner Facebook group modern therapist group to further these discussions. And until next time, I'm Kurt Wilhelm with Katie Vernoy.   Katie Vernoy  52:11 Thanks again to our sponsor, trauma therapist network.   Curt Widhalm  52:15 If you've ever looked for a trauma therapist, you know it can be hard to discern who knows what and whether or not they're the right fit for you. There's so many types of trauma and so many different ways to heal. That's why Laura Reagan LCSW WC created trauma therapist network. Trauma therapist network therapist profiles include the types of traumas specialized in population served therapy methods used, making it easier for potential clients to find the right therapist who can help them. Network is more than a directory though its community. All members are invited to attend community meetings to connect consults, and network with colleagues around the country.   Katie Vernoy  52:52 Join the growing community of trauma therapists and get 20% off your first month using the promo code Mt. SG 20 at Trauma therapist network.com Once again that's capital MTS G the number 20 at Trauma therapist network.com   Announcer  53:09 Thank you for listening to the Modern Therapist Survival Guide. Learn more about who we are and what we do at MTSGpodcast.com. You can also join us on Facebook and Twitter. And please don't forget to subscribe so you don't miss any of our episodes.

M&A Science
134. How To Negotiate And Structure NDAs

M&A Science

Play Episode Listen Later Nov 22, 2021 42:36


NDAs are often overlooked as people tend to fall into the trap of thinking they can be templated. In this episode of the M&A Science podcast, Kison interviews Mark Khavkin, CFO of Pantheon Platform about NDAs, how to negotiate them, and their structures. Here's what you'll learn: Why NDAs are not routine legal documents The fundamentals of NDAs Negotiating NDAs depending on the type of deal you have To join our network of M&A practitioners and sign up for our newsletter go to mascience.com.  

Data And Analytics in Business
E82 - Sigal Pilli - Uniting Finance & All Sides of Business with Data Analytics

Data And Analytics in Business

Play Episode Listen Later Nov 21, 2021 50:18


If communication is key to running a successful business, then why do the different departments in a business fail to communicate? How many people go about their work day without knowing a single thing about what their co-workers are doing? If communication really is key, then what can miscommunication do to a business? Meet Sigal Pilli Sigal's Role as a Finance Leader at Seer Medical Sigal Pilli is the Chief Financial Officer of Seer Medical, a creator of technology that revolutionises the diagnosis and management of neurological conditions. Their technology consists of wearable devices, a cloud platform and machine learning systems. These systems are at the core of their at-home video EEG monitoring and diagnostic service - the first of its kind. At Seer Medical, Sigal took part in structuring the financial department to integrate with other departments, merging data, finance and the diversity of views from around the table to ensure decisions are made well. As the CFO, Sigal's role was to shine a light on points not considered by marketing and product. Sigal's Past Experiences in Finance Sigal is also a Non-Executive Director at RateMyAgent Australia (ASX:RMY), Australia's No. 1 real estate agent ratings and statistics website. Previously, Sigal held CFO and COO positions at industry-leading organizations like John Deere, Envato, Assembly Payments, and New Aim. Sigal has decades of experience working in senior leadership roles in digital (e-commerce and SaaS), fintech, manufacturing, and engineering. Her expertise also includes acquisitions, integration, change management, and digital transformation. Over the years, she has built many large and complex financial and operational projects from scratch, including an effective, commercial and service-oriented finance function involving 40 professionals at Envato. Uniting Finance and All Sides of the Business with Data and Analytics In this exclusive analytics podcast episode, Sigal shares: About her volunteering experience and why she chose those organisations to volunteer for. How to avoid biases in hiring and managing female employees, especially for the STEM and tech industries. Her thoughts and experience in using data analytics in the areas of her work. Why making the most impact on an organisation with analytics is to focus on the revenue. Why finance is best suited for this work and how the overall organisation, including pricing, products and marketing department, can work with their finance team to make a sound decision that is forward-looking with a long term view. How to organise the financial department to work well with other departments in the organisation. If you're a CFO, and always intrigued about how you can move beyond financial control but modernise your department to play a bigger role in your organisation with your finance expertise, listening to Sigal and how she plays her roles in scaling and growing the company is highly recommended. Join our Dogecoin Giveaway! Start your cryptocurrency journey without the risk of losing money, without the anxiety over figuring out how to start, and without the hassle over choosing from the plethora of cryptocurrencies out there. Join our giveaway now to stand a chance to win 1,000 Dogecoin, free! --- Send in a voice message: https://anchor.fm/analyticsshow/message

Between Two COO's with Michael Koenig
Deepak Chopra Global COO, Rich Wallach, on synchrodestiny, managing through uncertainty, and remote operations

Between Two COO's with Michael Koenig

Play Episode Listen Later Nov 21, 2021 44:50


Rich Wallach, COO, and CFO of Deepak Chopra's Chopra Global, joins us to discuss:How a philosophy degree prepared him for everything and nothing at the same timeCredit Suisse's attempt to crush the humanity out of himCreating security, safety, and certainty for employeesOver-communicating without stressing people outHow processes can improve peopleGetting rid of the office and going fully remoteAnd lemurs. Yes, lemurs, the animals.Chopra Global: https://chopra.comChopra Global's Brand New Mobile App: https://chopra.com/appChopra Global's Upcoming Events: https://chopra.com/retreatsRich Wallach on LinkedIn: https://www.linkedin.com/in/wallachrEpisode website: https://www.betweentwocoos.com/deepak-chopra-global-coo-rich-wallachBetween Two COO's: https://www.linkedin.com/company/betweentwocoosMichael Koenig: https://linkedin.com/in/mkoenig514Running Remote: https://runningremote.comRunning Remote 30% Coupon Code: betweentwocoos

The Informed Life
Hans Krueger on the Cycle of Emotions

The Informed Life

Play Episode Listen Later Nov 21, 2021 34:33


Hans Krueger is co-founder of the international design consultancy MetaDesign. He also co-founded another design consultancy, FutureDraft, where we worked together for several years. In this conversation, we discuss Hans's trajectory and how ancient teachings have helped him better understand his emotions. Show notes Hans Krueger (LinkedIn) Now Partners Erik Spiekermann Uli Mayer-Johanssen MetaDesign Arnaud Maitland Nyingma school of Buddhism FutureDraft Walter Link The Cycle of Emotions - A guide to influencing reality by Jessica Fan Longchenpa Kindly Bent to Ease Us – Part One: Mind by Longchenpa Kindly Bent to Ease Us - Part Two: Meditation by Longchenpa Kindly Bent to Ease Us - Part Three: Wonderment by Longchenpa Some show notes may include Amazon affiliate links. I get a small commission for purchases made through these links. Read the transcript Jorge: Hans, welcome to the show. Hans: Thank you, Jorge! Jorge: I'll just say it, it's always a joy to see you. Hans: Pleasure is entirely mutual. Jorge: Well, folks, you might detect in the warm welcome that Hans and I have known each other for a while, and we've worked together. And I'm honored to say that I think of you as a good friend. But folks listening might not know who you are. So, for their benefit, would you please introduce yourself? About Hans Hans: Okay. I'll try to keep it brief. The problem at my age is the story is awfully long. So, obviously I'm from Germany, as you can hear with my accent. So, I think it's probably best to start... to take us to Berlin when the wall was falling, in the fall of 1989 and to a meeting where I met this guy, this funny typographer called Eric Spiekermann, and my friend Uli Mayer took me to meet him. And basically, out of that meeting came the creation of a company called MetaDesign. And for those who know the design scene in Europe, that's a fairly significant company and continues to be. I was the... basically I was running the company for the first 12 years of its existence. From, you know, building it from scratch to a few hundred people and multiple offices. And it was one hell of a ride! It coincided the emergence of a technical phenomenon called the internet. That happened simultaneously. We were in the middle of that, even though MetaDesign had its core competency... it came from typography and micro design, and therefore the term MetaDesign — design for design. But it quickly became like a multifaceted design firm, with a huge emphasis on the internet. So, it was fascinating and a long story, so I will not go too far into that, but basically just to add one more thing: we did things such as, just to give you an example, for VW built their first car configurator. It was one of the first online car configurators. In those days those were huge endeavors. All the code had to be created. And not only that, we managed to link that car configurator to the production database of VW so that the car configurator would automatically only show the options that were actually possible within a car, and the combinations that were possible. Because that's the huge complexity with these things. And these things change all the time. So, that was huge. Jorge: And this was in the 1990s? Hans: Yeah, absolutely — 1990s. So, it was awesome. And, those were like huge projects, you know? Like a year and a half and massive manpower and equivalent budgets. Very interesting. So, after 12 years, I was literally finished, because I had learned how to build a company in a way. Got fairly good at that. But I had not learned how to regenerate myself. When I left, I had... I don't know how many but like way more than a hundred unused vacation days. And I was absolutely depleted, you know? And so, I had not learned how to regenerate myself. I had always discounted that as a topic. That was a costly lesson and it led to a multi-year process of rebuilding that foundation, with the most important element of meeting the teacher that actually introduced me to the knowledge that I needed to do the rebuilding process. It was a dark time at times, I have to say. And his name is Arnaud Maitland, and he's now retired pretty much. But he is a Nyingma Buddhist. So, the interesting thing for me was less... you know, I was never a religious guy, so I did not... there was no interest on that level. But the knowledge of the human condition that these guys have, in these lineages, in these knowledge lineages, is just extraordinary. It's immeasurably deep. You know, in our life and the way we live, we can barely scratch the surface of that, even if we commit to a significant amount of study. So, that was important. After that, you and I started basically working together for a number of years in FutureDraft. It was a lot of fun, and from my perspective, really interesting in terms of the design process that we developed there, which was very much a collaborative design process. And from my perspective, and you might differ on that, but the extraordinary thing was that we started to design complex systems sort of from the inside out. So, that was a great chapter and then... it ran its course. The sort of work we were doing was increasingly hard to find, so we decided to go do something else and I had another big revelation. The second really big revelation in my life was when a mutual friend of ours introduced the notion and the clear distinction of extraction versus regeneration. And I started to think about that. That really hit home. So, it suddenly dawned on me the nature of our economic activity and what is going on there, and then sort of close the loop to to finding the mission for the second half of my life. And that's basically... it took me a little bit away from the design industry, but I'm now completely focused on bringing the logic of regeneration into companies and building an organization around that. So that's what I'm doing right now. And on a personal note, I've been married for a long time. I have one son. My son is already almost 30. And, I've also always been a musician, you know that about me. So I play drums in too many bands to mention. And, still love to do that. And, I also know fairly... I could still hit a fairly decent golf ball! That's another thing I know how to do fairly... fairly well. But, yeah! That's about it. Jorge: Oftentimes when I invite folks to be guests on the show, there's a topic that we agree on beforehand. And in your case, we're kind of going into this with many possible topics to explore, which is a challenge, right? And the thing that draws my attention, just in hearing you introduce yourself, is that there's this trajectory in your career where you helped build this organization, and helped grow it to a fairly large size, especially for the design world. Hans: Yeah. Coming out of the dark Jorge: And, as you said, you... I don't know if this is exactly what you said, but I got the sense that you kind of burned yourself out in the process of doing that? And the time when I met you, and when we worked together, it felt to me like you had overcome that and you had overcome it... I got the sense that you had overcome it in part through these teachings that you were talking about. And just in my knowing you and knowing your trajectory since then, it feels like those have been central to both the work that we were doing at FutureDraft and also the work that you're doing now in regeneration. And I was hoping that we could explore that a little bit here because it might be of value to folks listening in to hear more about how you came out of this kind of dark period of your life and how these ideas have influenced the trajectory since then. Hans: Oh, that's a loaded question, my goodness! How do you come out of a deep dark period? So... but, I can give you sort of a glimpse and it's very much an individual thing, you know? In the end, everybody has to find the path individually and it starts by becoming aware of what calls you. In my case, I had always felt, like, an affinity to the Tibetan Buddhists for some reason. I mean, that's also... and it started way earlier before it became fashionable, and the mountains and all of that. But what I experienced... so, the way I met my teacher, I was at a retreat in Brazil, invited by a very good friend of mine, Walter Link — who played a big role in my life and continues to — and he invited me. And part of that program in that retreat was a Buddhist teacher, teaching two days on the subject of time. And I thought, when I looked at the program, what is he going to talk about for two days on time? Time is a fairly straightforward topic. I went into this and after an hour, it dawned on me that I could study the subject of time for the rest of my life and would not even be able to scratch the surface. So, that was like a relief because at that moment, the realization was — and it's not... it wasn't as explicit as it is now when I look back on it — but this has happened in some shape or form was, the revelation was that there is knowledge that is so far greater than anything I have the idea off — that it exists. That I can actually take refuge in it. That I can rely on some basic things that others have really thought through carefully. And I have not found that before in my life. Certainly not in the church I grew up with in Germany. None of it. And I would describe it as knowledge of the human condition. And you could also say knowledge of our own operating system. And when you shine a light on what actually drives your patterns — your thought patterns — and they become visible, that's when the relief sets in. So what basically has power over you without you realizing it becomes visible. And that's in the end, the process. So, I know we've talked about the whole subject of emotions. Huge topic. What surprisingly few people realize is that there is like a real system behind this thing, this whole emotional complex. How they work, how they interact with each other, what leads to what, what you can do to actually cultivate your own emotional state. A state that allows you to perceive as clearly as possible what is real, versus what you imagine is real. Jorge: What do you mean by emotions? Like, what emotions are we talking about? Emotions Hans: Well, you can start anywhere but of course, classic emotion is fear, or anger, right? So these are very strong expressions. And if you talk about the system... if I shed like a little light on it, maybe? So each one of these, for example, fear or anger, they're connected to a whole complex of emotions. So, there's like a sequence. Fear is actually... and this might not be so intuitive, but I can tell you it's, for example, connected to apathy and aversion, right? And anger on the other hand, which surprisingly many people sort of think has a lot to do with fear, anger actually is connected to emotions such as attachment and desire, stuff like that. The interesting thing is that... so one of the core realizations is that each one of these emotions, for example, anger. Good example, anger. If your mind gets used to being angry, you will be angry all the time. So anger is actually something that... it's a pattern in the mind. And for example, if you are used to experiencing relief when you blow off steam, that's a pattern that when that happens, it's way more likely that it will happen again in the very near future. What that means is you can actually dry these things up. And why do you want to do that? You want to do that because when you're angry, for example, and you get to a real rage state... this is like when it becomes most obvious, you're completely disconnected from reality. You don't know anymore what's really happening in the world. And it goes as far as hurting yourself, you know? You might run with your head into the wall. Jorge: I'm hearing you describe this Hans, and thinking that that sounds like the business model for a lot of the social networks, right? Hans: Right! right. Well, I mean, they absolutely... they trigger these emotions and they play with it and it's actually like a drug. And what it does is it could completely disconnect you from reality. And the whole goal, as far as the Buddhists are and what they teach in terms of the human condition teachings, they say that your aspiration in life... a good, healthy aspiration in life is to be as clear in your perception of reality as possible, as often as possible. So, meaning that these emotions that basically take away that clarity or that connection to reality, are really detrimental and they lead to all sorts of actions that we might regret afterward, you know? And they also lead to actions where we destroy our own habitat. Greed, by the way, is one of these emotions, you know? So, if you're in the grasp of greed, you do damage and you don't realize because you're completely disconnected from reality. Jorge: Well, and I'm thinking another example might be when one gets angry at someone and you just let your mouth fly and say all sorts of hurtful things, right? Which you then regret. Hans: Of course. And you can go into physical altercations, you know? So absolutely. The structure of emotions Jorge: So, these ideas sound fairly intuitive. What is different or at least was different for me when I first heard it, was the way that they're structured. They're grouped in particular ways, right? And they relate to each other in particular ways, which I first heard of from you, and I was hoping that you would tell us a bit more about that because I think it's very intriguing. Hans: Happy to do that. So, I just basically try to describe how these emotions are grouped in clusters, right? That actually there's like a common core to them. There's like a common core. So the thing is, of course, there are also positive emotions. Emotions that actually help you to see the world as clearly as possible. Where you really like... you're breathing pure oxygen. Okay, that's not so healthy either. But you're like completely clear and connected to everything and you'll hear all the voices and you know exactly what's going on and what's needed at a particular moment, right? I'll give you an example of how this works together. So, when you love something, you care about it deeply, when you love something. This could be another human being, or it could be a beautiful flower, or the planet itself. Or it could be anything. There's like, there's… Jorge: The Beatles? Hans: The... who's that? He's pulling my leg, you know? So, anyway, that's another huge topic, don't get me started on that! But basically what happens is that when that love is pure, for example, you love another human being, it does not infringe on that other human beings "being," if that makes sense. So, it's actually... love is an emotion of freedom. And when that turns, and there's a shadow side to it, and that shadow side is attachment. Because now suddenly something that you love, you want it to be in a certain way. You take away its freedom to develop as it needs to develop because you want it to be in a certain way. So, now you're attached, right? And now there is a progression from attachment to anger, to rage... it's just one progression, you know? It's just a question of time. So how this systemically works is... this means there's a shadow side actually to those emotions that are actually beneficial for you. And the little trick is you cannot, when you have become angry, you cannot go back. First of all, if you consider what happens to most people is they become angry that they're angry, right? So now you have anger times two. Anger, layered on top of anger. And then actually, that continues to the third and fourth and fifth dimension. And so the anger gets thicker and thicker. Jorge: It's a positive feedback cycle, right? Hans: Yes. I don't know if it's positive. Jorge: Positive in the sense that it grows, right? Hans: I know. So, the trick here is you can only get rid of it with an antidote. And the antidote is actually... in the case of attachment and anger, which is very much about yourself, you want something to be in a certain way, right? That's like the common root of this, and you get angry because it's not like that, is compassion -is the cultivation of compassion. So, compassion means you take somebody else's wellbeing, or the wellbeing of the planet, or whatever, you take it on the same level of importance as your own. So, when you do that, anger can't exist anymore because it's not about you anymore. So I hope the logic gets clear, is sort of visible in that description of one of the quadrants. And the thing is there's like a whole circle of these. It goes around in a 360-degree circle. One thing leads to another, it's the antidote of another, and you cultivate that and that can go wrong again, and so this goes all the way around, which is too much in our format here, but that's the little secret. And what was the breakthrough for me was that I actually have the freedom to cultivate what I want to cultivate. To realize that I'm not the victim of whatever I'm in the grip of. That I can cultivate it myself. Jorge: That sounds incredibly liberating. I just want to point out because you hinted at the fact that there's a cyclical structure to this, and we don't have enough time to get into it here, but Jessica Fan has written up the model based on a presentation that you did, and I'm going to include a link to that article in the show notes for folks to check out. It is worth checking out. Hans: She's lovely. Yes, she did a great job on it. Jorge: This idea that through greater awareness of your emotional state, you can liberate yourself from being kind of driven by these things is incredibly powerful. And yet from experience, I know that it's hard, right? Like when you're in a rage, you're not thinking straight. Hans: No, that's right. Escaping emotional cycles Jorge: So, how do you overcome that? Like, how do you gain the ability to escape from these feedback cycles? Hans: Yeah. So a very good question, Jorge. So what I would say is... so the path — my path, and I always have to preface everything, that this is my path. So this is not... you cannot generalize it. But for me, the path was to... for a long period of time, and I do this still every day, I contemplate the system. Whenever I'm somewhere — and it runs like a background program — the first step is to really memorize the system, which takes surprisingly long, actually. That you have it completely in your mind; that it's ingrained in your mind. That it becomes part of your normal, interior structure. So, memorizing the system is the first step. The second thing is to actually start contemplating yourself, how these things interact. Because it's literally like you discover... I can tell you I've done this now for more than 15 years, I think? Every day, I discover new dimensions in this. How like little mechanisms, how they work. And then, the process is, in the end, is classic. So, usually what happens is you have like an episode during the day and you lie in your bed at night and you contemplate, "Geez! You know? There it was again.:" So, you become aware. So, the practice is, as it gets ingrained into your body, into your system, these intervals become shorter and shorter. So, you're... initially, you probably think about it at night in bed. Then you get closer and closer to the point where it actually occurs. And if you're a master, — I'm nowhere near — you actually catch it at the onset, when it's like the first tiny irritant in your body, you already got it. And you apply what I call the antidote. You immediately catch it. If there's like the tiniest amount of attachment, you already got it. That way, it never progresses. So, that's the path. It definitely starts by really memorizing the whole thing. You have to know it. That this leads to that, that leads to that, that leads to that. These are the different groups .... and you have to have it in your system. That took astonishingly long. I had like one that I was constantly missing. I could not remember it, you know? That, of course, points to other psychological phenomena; that you have a blind spot. Design and the cycle of emotions Jorge: Like you were saying, this stuff is so deep and vast. Like, there's a lot to explore here. Many of the folks listening to this show are probably interested in design. They have either a design background or are practicing designers. And I'm wondering if you can talk about the relationship between the framework — this cycle of emotions — and the design process… if there's any relationship there? Hans: Oh, there's a huge relationship! So, let's start by saying what happens to you on an individual level, happens to organizations on an organizational level. So, you can have angry organizations. You have arrogant organizations; organizations who think they know at all. You have all that, and if you know how this works, you can actually design according to what's needed. You can design for the antidote. And you can also completely miss it because you are not aware of it. So, if you apply the wrong antidote, there's not going to be any impact. So, that's like one huge thing. You can actually observe it. Do you know who really knows this stuff well? People who write movie scripts. Since I've been aware of this, I watch movies and I go like, "Ah, there it is." This is like a blueprint, how they operate with the system, you know? And I'm sure it's not, in many cases... I would be surprised if they actually explore it through Buddhist teachings, but these are all universal truths. This is not something that the Buddhist own or something. They just describe something that exists. So, it's inevitable that others come to the same conclusion because it's the truth. That's just how it works. And I see it in movie scripts all the time. But it definitely applies to organizations. It applies to teams, to design teams, you know? When you work in a team and you have a person who is in a particular state, if you have this knowledge, you can address it. The challenge is to actually apply this in an organizational context. And we even had that at FutureDraft because there's so much resistance. There's a lot of resistance to actually... which is really interesting, to making this stuff visible. Many people don't want this to become visible. They sense that there's sort of a complication for their life. They love their emotions, you know? Why would I start manipulating my emotions? Right? My anger is healthy. I hear those, but... yes, there is sometimes a place for anger, but from my perspective, the trap is to become caught up in it. Sometimes you just have to blow up. But how do you calibrate your own system afterward so that it does not linger in your system and block your ability to see clearly? Jorge: What I'm thinking in hearing you describe this is that in gaining greater awareness of the degree to which emotions are influencing your behavior, and gaining the ability to regulate that process, imparts upon you a certain degree of responsibility, right? Like, you can no longer point to your emotional state as the cause for these things. So, you were talking earlier about this victim mindset. It's like, well, you know, "I was angry, so that's the excuse!" Hans: Yep, exactly. Exactly. Very true. Yeah. The notion, in a way, is to take responsibility on that level. Take responsibility for the state you are in. That's actually, I think, one of the core requirements of a leader. You have to take responsibility for the state you're in. And we had some very clear examples of people who are completely oblivious to that in recent years. So, yeah, absolutely. Taking responsibility for the state you are in, also as an organization, by the way. This is really a big deal. Reading the emotional space Jorge: Right. And I don't know to what degree this is something that we are trained for. I think that as individuals, we have a sense for what it means to be angry, what it means to feel, I don't know, greed or what have you, but I would expect that it's harder to read the room when it comes to a group of people, whether it's your team or the organization, or what have you. Any pointers in that regard? Hans: Well, I mean, first of all, when you yourself are in a balanced state, you will be able to read the room. That what gets in the way is your own imbalance, right? If you had a fight at home in the morning and you walk into a meeting, that fight lingers in your system, if you don't know how to completely offset that emotion and you have a practice around it. You will bring this into the meeting. You will not see what's going on in the meeting and you will miss vital information. And information of course is communicated... only 5% or so is communicated verbally. The rest happens on completely different levels. You're missing all that because your system is blocked. It's clogged, literally, inside. Yeah, it's astonishing. I mean, I don't know if it comes across, but you really have it in your... when you become aware of that, of what it feels like to have a system that is clogged like that, and you know the difference between the two states, it's astonishing, you know? The level of information that you suddenly get because you're not clogged. Closing Jorge: Well, this all sounds really fascinating, and again, a lot of it is not new to me because we've talked about this in the past, but I'm very happy to be able to share it with folks here. I'm wondering where they might find out more about this particular framework. I mean, I've already mentioned, Jessica's post. Hans: Yeah. Jorge: But if there are any other resources? And then, where can folks follow up with you yourself, should they want to reach out? Hans: So, the second question is easy to answer. You find me on LinkedIn. I don't have... I'm not a big social networker, so, but on LinkedIn, you can find me. And if you put in Hans Krueger MetaDesign for example, that will lead you straight to me, I would imagine, because my name is fairly common, in Germany at least. So that's one thing. Also, if you're interested, take a look at a website called Now.Partners. That's actually the endeavor that I'm involved in currently, which is a decentralized global consultancy. We have not really talked about that — it's a fascinating topic — that, in service to regeneration of large multinational companies and family-owned businesses. So, Now.Partners, there's like 120 partners in there now. And you will find my portrait in there. I'm the CFO of that organization, so… Jorge: And you'll find me as well. Hans: Hey, you're also a partner? Fantastic. No, no, of course! Fantastic. Which is awesome. Yeah. So, you can also get in touch with me through that. So Yeah! The first part of your question, where to look for resources, that's not so easy to answer. So basically this thing, what I've just told you, you will find snippets of that in any Buddhist book. I'm not aware of a book that actually spells this out to the degree that it... how it would be applicable to our normal professional life. I'm not aware of that, really. There are various frameworks actually out there about, emotional frameworks, I should say, meaning frameworks that describe this whole system. I have to say, the knowledge that I've shared here a little bit comes out of a book that was written in the 15th century by a famous Buddhist teacher. 15th or 14th century. Incredible, when you read that. His name is Longchenpa. And the book has a beautiful title and I, say this slowly, Kindly Bent To Ease Us. What a title! Anyway, Kindly Bent To Ease Us. This is not the easiest thing to read, but it's all described in there. Fascinating! So, in the end, explore it where you can explore it if you're interested, and you will find the right place. Jorge: I am very grateful for you to come on the show and tell us about it, Hans. Hans: It was my pleasure, and, yeah! I hope it was interesting. Jorge: Thank you for being here. Hans: Thank you, Jorge. Thank you for having me.

Best Real Estate Investing Advice Ever
JF2626: Crooked Contractor on a $10M Project with Joe DiSanto #SituationSaturday

Best Real Estate Investing Advice Ever

Play Episode Listen Later Nov 20, 2021 42:36


Are the general practices of general contractors just unsavory? In Joe's experience, the contractor on his $10M project tried to take advantage every opportunity he could get and with hundreds of thousands of dollars being added, Joe had to find a way to make it work. Listen to Joe and Ash discuss enforcing a contract and penalties, working together with an enemy for a year, and how to get accurate references. Joe DiSanto Real Estate Background: Works part-time as a fractional CFO for 6 companies and 1 family office Portfolio consists of 11 residential rentals, 2 commercial buildings, and 1 piece of raw land Based in Providence, RI Say hi to him at: https://www.playlouder.com/   Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss

Becker’s Healthcare Podcast
Jim McManus, Senior Vice President & Chief Financial Officer at MultiCare Health System

Becker’s Healthcare Podcast

Play Episode Listen Later Nov 19, 2021 14:42


This episode features Jim McManus, Senior Vice President & Chief Financial Officer at MultiCare Health System. Here, he discusses his career journey, his pride in MultiCare, how the role of CFO has evolved, and more.

How Did They Do It? Real Estate
SA308| Exceptional Opportunities of Investing in Mobile Home Parks with Jeff Cook

How Did They Do It? Real Estate

Play Episode Listen Later Nov 19, 2021 24:57


Today, you'll hear another story from our guest, Jeff Cook, who'll make us realize that mobile home park investing is one of the best asset classes for people who want to invest passively in real estate. Join us to learn how this asset class stood out from the rest despite the global pandemic!Key Takeaways To Listen ForSingle-family vs. mobile homes parksHow to select a profitable market location for investmentMobile home parks: Marketing strategies, operating challenges, and market insightsRefresh renovations: What it is and how it worksImpacts of building a partnership in real estateOutstanding resources to strengthen your knowledge about real estateResources Mentioned In This EpisodeFree Apartment Syndication Due Diligence Checklist for Passive InvestorThe Mobile Home Park Mastery PodcastAbout Jeff CookJeff Cook is the Managing Member & CEO/CFO of Cook Properties NY.  He lives and breathes commercial real estate and can usually be found at the office. Jeff finds great fulfillment in the transformation of poorly performing properties, resulting in a very attractive product. Jeff graduated with high honors from Binghamton University with a Masters Degree in Public Administration. He started his career as a project manager for a market research company. He began purchasing multi-family properties in the City of Rochester in 1997. He purchased his first mobile home park in 2009.Connect with Jeff Website: Cook Property NYEmail: jeffcook@cookpropertiesny.comPhone: 585.233.4699To Connect With UsPlease visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!SponsorThinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GrowYourShow.com and Schedule a call with Adam A. Adams

DEEP DIVE INTO BUSINESSES
Liquid I.V. Marketing Hacks: Tips On Mitigating The Rise Of Ad Cost

DEEP DIVE INTO BUSINESSES

Play Episode Listen Later Nov 19, 2021 23:58


Every week we will take a deep dive into a business and share with you some of their marketing & business strategies that helped these businesses scale. (

Capital Gains Tax Solutions Podcast
Inside Secrets Of High Reward Option Trades with Gareth Soloway

Capital Gains Tax Solutions Podcast

Play Episode Listen Later Nov 19, 2021 31:14


Gareth Soloway is the Chief Market Strategist and CFO of www.InTheMoneyStocks.com. He has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial adviser, helping clients get their financial houses in order. While helping others gain financial independence, he continued to study the day trading and swing trading world, developing a unique market philosophy and proprietary methods. Following his work in the financial sector, Gareth went on to trade alongside professional traders on the institutional side of the business. Unable to tolerate the hype of Wall Street any longer and having an amazing ability to profit using his developed trading techniques, Gareth Soloway decided to partner with his friend and colleague, Nicholas Santiago to form InTheMoneyStocks.com in 2007.Gareth Soloway day trades and swing trade anything and everything. If it is moving, he is trading it. While being able to call tops and bottoms in large caps and the markets, he has a love and great talent for trading small caps. He is known in the trading world as the "Small Cap King."In our conversation, we discussed:Inside secrets of high reward stock tradingBiggest frustration and when it comes to Capital Gains Tax DeferralDiversify your holdings using CryptoConnect with Gareth Soloway:https://capitalgainstaxsolutions.com/inside-secrets-of-high-reward-option-trades-with-gareth-soloway/Love the show? Subscribe, rate, review, and share!Here's How »Join the Capital Gains Tax Solutions Community today:capitalgainstaxsolutions.comCapital Gains Tax Solutions FacebookCapital Gains Tax Solutions Twitter

The NFX Podcast
The Inside Story of Nextdoor with Sarah Friar

The NFX Podcast

Play Episode Listen Later Nov 18, 2021 48:08


Nextdoor, the social media app for neighborhoods, which is actively used in 1 in 3 households in the U.S., was recently valued at $4.3B and listed on the NYSE last week (November 8, 2021) under the ticker symbol "KIND." Today's episode is a glimpse into the thoughtful, humanist view of Sarah Friar, the CEO of Nextdoor, former CFO of Square, and board member of Slack. She cautions us not to disappear into the metaverse, and also encourages today's and tomorrow's Founders to cure gaps in the world — and do it with eyes wide open to consequences at scale. There's more tension than there is harmony between “offline vs. online,” and yet one company is uniquely positioned to bridge the two for the benefit of us all.

The CFO Playbook
Balancing Speed and Discipline when Scaling with Tony Russo, CFO of Imply

The CFO Playbook

Play Episode Listen Later Nov 18, 2021 36:03


Tony Russo took the helm as CFO at Imply in August of 2020 after having been a CFO or dual COO/CFO at over 10 companies in the last 25 years. With multiple successful M&A transactions under his belt, Tony takes a measured and strategic approach to evaluating opportunities, whether with the goal of benefitting the companies he works for or in determining which challenges to take on as a CFO.While assessing risk, upside, and diligence capabilities are all vital components of determining whether a new CFO opportunity is the right fit, Tony stresses the importance of making sure your values are aligned with the mission of the company and the executive team above all else. Believing in the company and getting along with your team go a long way in driving future success. For this reason, Tony also recommends prioritizing values and attitude when hiring for the finance team.  Though the right team members are key, Tony prefers to keep finance lean as the company scales. One way he accomplishes this is by leaning on technology to make a team more efficient rather than increasing headcount. It's a delicate balance and Tony believes a good CFO keeps an eye on operations to know when new technology isn't enough to manage workload and drive insights. On this episode of The CFO Playbook, Tony shares why company values play a pivotal role in evaluating new opportunities, emphasizes the importance of finance staying lean, and describes why operational discipline is so critical for success.Connect with Tony on LinkedIn.Connect with our host Ross on LinkedIn.If you want a better way to track and control your team's spend, check out Soldo.com.

CFO at Home
71. Real Estate Investing, Stock Investing

CFO at Home

Play Episode Listen Later Nov 17, 2021 45:06


Jonathan Heagle is President of Mountain Vista Wealth Management, a fee-only registered investment advisor that helps pre-retirees and real estate investors achieve time and financial freedom.. On this episode of CFO at Home Jonathan and Vince compare real estate and stock investing in terms of returns, liquidity, volatility, diversification, and more. Key Takeaways Returns   Long-term returns of the stock market are often quoted between 8-10%.  Since 1953 residential real estate prices have nominally increased 4-5% per year, but this does not factor in variables such as  Leverage: Properties are often purchased with a mortgage, reducing the capital invested Cashflow: Investors typically target properties that produce positive cashflow  (collected rental income is greater than all expenses and reserves) Amortization: The tenant is paying down your mortgage for you, increasing your equity in the property Inflation: Rent, in addition to the value of the property, should increase over time, while your debt service remains the same, assuming a fixed mortgage Liquidity The stock market, generally speaking, is very liquid. Single-family housing market is generally viewed as the most liquid segment of the real estate market; it still takes weeks, if not months, to convert a home to cash. While liquidity is generally viewed as a positive characteristic of an investment, it can also promote bad behavior Volatility The stock market experiences a correction of 10% or more, on average, every 1.87 years Since 1963, the median sales price of existing homes experienced a YoY decline of 10% or more on only two occasions Diversification Stocks - can easily be achieved by purchasing an ETF or index fund that owns a broad array of stocks and does not require a large amount of money Achieving diversification through rental properties is more difficult Money required for multiple down payments You would want your portfolio to be geographically diversified Publicly traded REITs or eREITs offered through crowdfunding platforms, that allow for investors to achieve diversified exposure to real estate, Time and Effort Stock investing can be active, but most people buy a few individual stocks and index funds, sit back and watch their account value change over time Despite the common perception that you will be fixing toilets at 2 a.m., owning a rental property can be very passive, particularly if you have the right team behind you. Resources MountainVistaWealth Ways to contact/follow: JonathanHeagle - LinkedIn Contact the Host - vince@thecfoathome.com

CFO Thought Leader
753: Time to Make the Coffee | Jim Calabrese, CFO, Finalsite

CFO Thought Leader

Play Episode Listen Later Nov 17, 2021 39:53


Jim Calabrese recalls that when he began to climb the corporate ladder early in his finance career, an executive mentor told him, “Never be afraid to make the coffee.” This curious advice caught Calabrese's attention, so the up-and-coming executive listened carefully as the mentor added: “As an executive, you need to be able to get dirty—to roll up your sleeves. You don't want to be the person who can't do a mundane task because you're in love with your title.” Today, as a CFO, Calabrese serves up his own bite-size mentoring verbiage in this way: “There's nothing more valuable when you're the CFO than understanding how the widgets are made—and being the person who's willing to take on the challenging projects.” Calabrese tells us that he reached the CFO office by aggressively pursuing projects outside the traditional finance realm while also signing up for long stretches on strategic planning teams, where he guided re-engineering projects in the energy and software sectors. His strategic work—along with his operational “grinding and tinkering”—positioned the CPA/MBA hybrid to thrive as a finance leader, especially in his current role as CFO of Finalsite, a private equity–backed SaaS developer serving the education sector.

Software Social
Using Jobs to Be Done to Build a Whiteboard That Does Math: A Conversation with Matt Wensing, Founder of Summit

Software Social

Play Episode Listen Later Nov 16, 2021 38:04


Every doctor is concerned about your vital signs, but a good doctor cares about your overall health. Your website deserves the same care, and Hey Check It is here to help- Hey Check It is a website performance monitoring and optimization tool- Goes beyond just core web vitals to give you a full picture on how to optimize your website to give your users an optimal, happy experience- Includes AI-generated SEO data, accessibility scanning and site speed checks with suggestions on how to optimize, spelling and grammar checking, custom sitemaps, and a number of various tools to help youStart a free trial today at heycheckit.comAUTOMATED TRANSCRIPTMichele Hansen  0:00  Hey, welcome back to software social, I am super excited to have a guest with me this week. It is Matt wensing, who is founder of Summit, which is a tool for financial modeling. Previously, he was founder of risk pulse, which was acquired in 2019, which was an enterprise SAS. I'm also the co host of out of beta. Matt, welcome. Thanks, Michelle.Matt Wensing  0:31  I'm really excited to be here, too. I'm a listener. And I just love it. So this is fun.Michele Hansen  0:37  So I have been wanting to talk to you for a really long time. And there is one tweet that you sent out in particular, that made me really want to talk to you. So in January, you tweeted out some notes you had taken from customer research that you did for Summit. And you were working with what the jobs to be done world calls the forces diagram, which is basically this diagram we use to show the different pushes and pulls and anxieties and habits people have around the tools they use, and why they might be looking for something new, but also why they might stay with what they're doing right now. And I am so curious to hear kind of like how this came about, and how you have been using customer research as you explore summits. So can you kind of like take us back in time to when you first started researching Summit?Matt Wensing  1:52  Yeah, absolutely. So it's funny that there's actually an overlap here between even knowing what jobs be done enforces progress is and that initial research. So I attend the business of software conference each year in the States, so there's one in Europe and the States, but every October, in Boston, folks get together, at least pretty COVID and cross fingers soon. And Bob molesta is a regular speaker there as well, who is not sure the godfather of the forces of progress framework in a lot of ways. And I just remember being this is probably Oh, man, time's flying, right. So let's just say five years ago, I wanted to say three and like now, it's not three, it's probably five years ago, I listened to him interview, an audience member, kind of a mock customer interview, live about purchasing a car. And the way that they were able to take a dialogue and really parse it into a framework that you could then take away from that, and then keep doing that with more and more conversation. It just was like, Okay, this is definitely a tool that I need to add to my tool belt like this is, this is amazing. What's interesting is then fast forward into Summit, like by that time in the history of my previous company, I was doing sales, enterprise sales, mostly it wasn't doing a lot of customer research, at least in terms of the early sort of genesis of the product. So I don't know that I got to use it a lot. Back then it was mostly just listening to like we did do enterprise deals where there were custom features involved. But really, I got to use it fresh, you know, when you're second time founder, a lot of times you're like, Oh, I'm gonna do this the right way, this time around and actually use more tools and framework things I've learned. And forces progress is one of those. So I wanted to build this tool to do financial modeling. But that is such an ambiguous target that I knew I needed to figure out the value proposition. What does that really mean? What do people want? So funny enough, I gave a talk at business a software as a lightning talk in 2019. And I kind of use that as a launching point. I didn't frame it as, hey, I'm selling a product. I didn't even have a product. I had a little prototype, basically. But I use that talk to share. Really, the problem, socialize the problem space, if you will talk about, hey, this is this is a challenge, isn't it? Like this is a pain. Here's a little tool I made to kind of deal with that pain. And I really tried to draw some business lessons out of it. But really, at that same time, I started to have conversations with potential customers and prospects. And as they talked to me, I started cataloger file their feedback into these different kind of buckets, right, kind of the tool that I had learned previously and yeah, I just kind of did that every you know a few months would kind of refresh my understanding of what they were saying and built up this. This list organized list of feedback which I guess I'll put a bow on it and say it really think helped me understand the product strategy, like what did the product strategy need to be, for me to go into this space that was otherwise very nebulous? Like, how do I have opinion? Like what should my opinions be about the tool and what it needs to do? Right?Michele Hansen  5:19  Mm hmm. It's really it's really interesting that you use basically that talk as sort of a, I guess, sort of, in a way, sort of what Patrick McKenzie would call a friend catcher, to attract people to you to talk about the problem. But then because you had that experience with the forces of progress and with seeing Bob Maestas speak who, by the way, his his book, demand side sales actually has real customer interviews in it that are all broken down by the forces. And it's like, it's so good, like it should be on everybody's shelf. And then, but you you were able to process that. And I think that's so important, because sometimes there can can feel like there's this gap between for people who are new to research of how do I go from talking to people to actually designing value? And how do I figure out okay, I've talked to these people, I know what these problems are, I know what I'm interested in. But then what is the product? And it sounds like you were able to bridge that? So I'm curious if you can kind of dive into when you went from this point of understanding the problem space socializing the problem space, you kind of had a prototype, but like, how did the prototype sort of snowball with that? And how did you figure out where it was valuable?Matt Wensing  6:48  Yeah, so to put a timeline on this, this was, what you're describing now is essentially the journey from late 20, October 2019, through probably April, May of this year, so you know, almost almost two years, essentially. And during that time, I've released multiple versions of the products, really knowing that this was not going to be it. Now I'm a developer, a full stack developer who can build full, I can build applications top to bottom, not as strong as they used to be on the front end, but like it works. And what I was essentially trying to do was understand, okay, so there are few risks of the business. And funnily enough, Patrick McKenzie was one of the first people I pinged about this idea, because was his work at stripe Atlas and stripe. And just in general, I knew that he would have interesting opinion. And his thoughts were okay, financial modeling is interesting. But it sounds like it could be transactional, like, somebody has a need, they do it. And then they're gone. And I knew I wanted to build a SAS. And so that was like, Okay, that's a great point. Because a lot of times, the use cases that would come up when I talked to people were, oh, yeah, I have this investor meeting, or Oh, yeah, I have this fundraiser. Oh, yeah, I need to figure this thing out. And it sounded like it had a pretty finite shelf life of utility. People come they use it, then they go away. I was like, okay, that's not a great recurring revenue business, you know, because it sounds like something you could just sell for $50 one time, and then people don't ever need to keep paying you anything. So I recognize that pretty early on that engagement was a key risk to the business being a sustaining recurring revenue model. And engagement is tricky, because as much as you want to do, you know, mock ups and kind of smoke tests and things that are not you don't want to over invest in engineering, it's very hard to de risk engagements with a paper mock up or a screenshot or a prototype, like, how do you know that they're gonna come back to it unless they actually get to use something. So I basically spent those 18 to 24 months, releasing, what I knew were really technically debt laden, let's put it that way versions of the product, where all I cared was that the front end was communicating what I wanted it to like, this is what this is, this is what this does for you. If you click this button, this happens, and it works, how it works less important. So I built a lot of basically throw away versions of the product, which was expensive, but I felt like it was the key to knowing would people actually come back and reuse it? And I guess let's pause there. That was my approach. And that was why I took that approach to de risking or, or getting more valuable feedback from people than just like, a conversation or interview right? And then I think I paired that with, do you use Excel to use sheets, you know, how do you do this today? But I learned, I just want to point out, I learned from both the usage of the early versions and the customer conversations.Michele Hansen  10:12  I love how you underscored there, how the customers intrinsic behavior and their intrinsic needs, drive usage of the product, like there's only so many sort of engagement hacks that you can do to make someone come back to a product. But like, if they only need to raise money every 18 months, then there's nothing that you can do that will make them come back daily or weekly, because their fundamental underlying need for the product is infrequent. And I'm reminded of the pain and frequency framework from Dez trainer, which, you know, he said, you know, that that most, you know, painful and frequent is sort of the best quadrant to be in, because people have an underlying need for something and they're annoyed by it. But infrequent and painful, can be kind of a danger zone, it can be a space for good products, you know, I think, you know, I sort of think of like buying a house and getting a mortgage is very expensive. And it's so complicated. And it's, you know, expensive to get it wrong, but it's very infrequent. But other things that are infrequent and painful, you know, can maybe not be a great business, which it sounds like you had some indications that the underlying need for this, what you were originally thinking would not be frequent and and therefore people would not have a subscription. And so rather than staying with that, and going down the path, and then a year from now being like oh my god, I have this churn problem. How do I keep people to stay around? You pivoted towards something that was more frequent.Matt Wensing  11:58  Yeah, that's exactly right. So I often use the metaphor for the first version as like, because I didn't know what else to build. So I just bought, I just built, I built the version that I knew people would use at least that first time, right? Because then I knew it was gonna fail. I felt like it was gonna fail. But I was like, okay, but I have to figure out the bridge from here to there. Like, I have to take a step. And so I'm going to give them at least gonna give them that initial thing and then just see, will they tell me like, you know, what else would be great is if, you know, like, what else could I learn by doing this? And so I built kind of that coin operated version, I call it like a vending machine for a financial forecast. Because my original thought was, yeah, people need a forecast. That was the value proposition, how fast can I get them a forecast that that works. And people use that. But then again, it was the churn problem, it was the going away, it was the it was hard to build, you know, that raving fan base, that you need to get something off the ground? Because it just wasn't sustainable. So I realized that to build a SAS in this space, I was going to have to figure out what did they do regularly? You know, like, Okay, if you only close your books once a month, or even your maybe you don't even do that, because you have a bookkeeper or accountant that does that for you. If you only raise money every 18 months, like what is it that you do? That's close to this that is more frequent? And that's really how I got drawn into more of the modeling space meaning like, Okay, but what, tell me about what you do regularly, and if you look at what these founders made, if I would just have them, show me what you made, show me what you made, I basically got into this thing of like, you are spending time somewhere. Where is that? What are you doing, right? And they would show me, the spreadsheets that they were making, that were very ephemeral, like they were very, they were throwaway products, if you will, they would make this like, I gotta figure out if I can afford this higher. And so they would just come into a G sheet G sheets, not new, right? Create a little spreadsheet and then use it for like a day, and then go away. But then it's like, well, how many of these do you have? Say, Oh, well, I mean, I probably do that, you know, once a once every other week, once a week, twice a month, like sometimes multiple times. And I'm like, wait a minute. So you don't build like a giant, you know, official forecast all the time. But you are using spreadsheets a lot. And you are doing things with money in spreadsheets a lot. Like Tell me about that. And that started to inform our strategy of Wait a minute, you know, there's really two customers here are two potential users. There's the CFO, if you will, or the analyst who builds those. That's the founder, even if it's a founder that's a hat they were where they do it like every once in a while I have to get serious about finance and do this proper thing. And then there's the non CFO founder, I just need something to solve my question or answer my question, person persona, who actually kind of does this work that they don't show to anyone else? They're really embarrassed. They know it's not, you know, they know it's not. Right, like with a capital R, right. But they're doing it a lot. Like they're doing this to make all the little decisions about pricing and metrics and goals. And how much can I afford to pay this person, like, I'm like, wait a minute. Turns out, you're actually doing a lot of modeling, you just don't talk about it. And you don't, you don't show it to anybody because you're embarrassed, right? It's this like dirty little secret almost that you have that you build these things and make decisions. Because of course, you use numbers, nobody doesn't use numbers, but like, you just don't call this some financial model. So that was a key insight, realizing that there were these two personas that were actually living within the same person. And they had compartmentalize those very cleanly, but I was much more interested suddenly in the other person, right.Michele Hansen  16:13  That's so interesting. Like, you know that what you just showed there is, I think it's such a key, a key point and activity based design, which is the idea that we're designing for activities that people do and not for a specific person. And so in my book, for example, I talk about, you know, everything is a process, and everything is an activity. And the activity of you know, for example, one person might both have a Carraig pod coffee machine, and have a French press. But they use the Carib pod coffee machine when they're trying to get the kids to school in the morning, and they're rushed, and they're doing a million other things. And they use the French press on the weekend when they have a friend over to chat. And to them. Those are two very different activities that they're doing. But they're being done by the same person. And so if you design for the person, that wouldn't make sense to you that they would own both, and would try to pigeonhole them into one. But really, they're a person who's doing many different activities with many different goals. And so you have this one activity where I need to create financial models for official purposes, to share them with other people, maybe for compliance reasons, maybe for sort of me in my official capacity reasons where other people are reviewing this. And then there's also this activity of, I need to make a decision that involves numbers. And it's basically this sort of like there's the official activity. And then there's the back of the envelopes activity, which is where this kind of I've heard people describe summit as like a whiteboard that does math. Yes. And that is also where that activity comes in. And that's more so replacing those those millions of spreadsheets and which other really fascinating about this is that so often is the core thing and jobs to be done. So often the competitors to a product is not actually another piece of software or another product product. It's somebody doing it. It's them making a spreadsheet. It's something in Google Docs, it's like them doing it by hand like that is as much a competitor as another piece of software. It's like, there's so many pieces. Yes, this is great.Matt Wensing  18:37  Oh, yeah. And that's why, you know, I try to explain, like, this is such a journey, because you, we joke within the company, like, gosh, we did you know, we were so dumb a week ago, like how we thought we were so smart, but we knew nothing. And when I started this journey, you know, you just so in the dark, and then you take these steps and you realize, wait a minute, wait a minute. And so it is kind of a weird thing that you have this perennial sort of optimism as a founder that there's something here and you can you want to figure out that if you're wrong, you're wrong, but at the same time, people are not telling you. You know, and this is the thing I think so key like this is a skill to develop is people are not what people don't say is as important as what they do say and like learning to find out that wait a minute, we were we were standing in this room, if you will, in your mind talking about financial modeling. And here I am thinking that this is where the gold is, you know, this is trying to get all my answers. And you're telling me next door you've got like 12 spreadsheets with numbers and money in them and you're you didn't tell me about like, how did I How was I so close but yet like you didn't you know, like if I had just if I had given up them right. I would have missed the room that actually had all the gold in it right? But it was literally connected but in their mind at what it was a different room. It's like oh, you're asking Give me about this. But, you know, you're not asking about that. And so that's what's so kind of vexing for like, in hindsight, I just laugh because stumbling across the actual value is is something that you, you partly luck part skill and getting people to. And really I'll cut my rambling short by saying I think observation is more powerful in those cases than just question and answer because the real key for me was when I said, Show me, show me what you have today. And they had to, you know, at that point, they couldn't say, like, Why have nothing. But they did have to say, Oh, well, let me open up the store over here and show you what I have today, because I haven't been through a fundraiser, and I haven't, whatever, but I've got something. And it's only when I said, Show me that I got to see like, wait a minute, there's this whole other room here, that is exactly where I want to be. So we pivoted our strategy towards that other space. And it's been very fruitful.Michele Hansen  21:12  And there's two really important skills for entrepreneurs there, that you just sort of, underscored without really stating them outright, that I want to, I want to hone in on for a second. The first one was basically thinking about how much of an idiot you were a week ago, and thinking about that, and not being embarrassed about it, but kind of being like, delighted that you have learned something, and that you have added to your understanding of customers. And, and kind of being able to like, not laugh at yourself, but almost sort of look at it with like this, this sort of it's almost a pride in a way of being like, man, I was such an idiot six months ago, like, and it's kind of delightful to have those moments of realizing how much you didn't know, but to be delighted by that, and not be embarrassed by that. And kind of as a company being able to say, like, Yeah, we had no idea we're doing. And now we six months from now, we're also gonna say we, you know, we don't know what we're doing. Right? Like, but you know, we are aware of that. And then also the curiosity, the combination of that approach to learning and being excited by learning and looking for surprises, and then allowing yourself to be curious when you talk to the customers, and not just accepting what they're saying at face value. But saying, Well, can you? What's what's in this closet over here, like, and just, but like, you can only get to that point if you have really built trust with them. Because as you said earlier, they were embarrassed by doing this back of the envelope math, they were embarrassed by their legions of spreadsheets of whether they can hire people because it wasn't real official forecasts done by a BI team, like maybe they they're so small, they don't even have a BI team. Right? Like, exactly. So. And so they don't want to show this anyway. But when you did the interviews, they trusted you enough, which tells me that the way you ran the interviews was when you ran them really well, because they were willing to let you in and poke into what you thought was a little closet. But it turned out they were like pulling out a books and a book. And then the whole bookcase like turns around. And it's like their secret lair full of spreadsheets.Matt Wensing  23:36  Exactly, exactly. Was that they had made like yesterday, and then this one from today and that one from a week ago. And I'm like, wait a minute, you're not just doing this, like once every you're doing this, like, this is enough, guys, this is enough, you know? And like, what if you actually enjoy doing this? Like, oh, wow, you know, and so then it was like the opportunity to switch that negative emotion to a positive one and say, let's change embarrassment to fun and joy and just, let's embrace the informality of it by letting you do it this way. But we're going to level you up like we're going to make it better and faster and take out the tedium. So that's where I went back into my forces of progress. And I said, Okay, for this non CFO founder, what are their thoughts? And you know, they say stuff like, I'm embarrassed by my spreadsheet. I'm not very good at this,Michele Hansen  24:29  right. Also, their spreadsheet, like they love playing in the spreadsheet. TheyMatt Wensing  24:33  do love to play exactly. So they like the act of playing with it, right? It's almost like a child who's like, I love to finger paint and create things. But then it's like the kid who's embarrassed to show his parents or teacher whomever like well, you know, this is just for me. And so it was a very, like private activity. And so I was like, wait a minute, so this is an opportunity to say, Don't worry, we've got your back. Like, we'll make sure the math is right. We'll run the team will do the tedious parts for you. We'll make it look really well designed without you having to do the work of making it look professional. And we'll even help you use smarter, you know, building blocks to do this work. So you might not, you still might not use it to do that fundraiser, get that for an evaluation or whatever, like, you're still gonna have to create a spreadsheet, perhaps, for all those little decisions. Like, that's where summit wants to start, like, we want to be your tool for that, right? And I think over time, we can grow into the, oh, hey, you're really, you're really skilled at Excel? Are you really good at G sheets, and you have total, you are like, really confident and proud of your work? We'll get to you, but like this, then give us that shape of adoption that that's okay. Like, there's enough people. And in fact, there's more people. It's a bigger market of people who are a little bit embarrassed, a little shy and a little inexperienced, frankly, with this stuff than the other one. And oh, gosh, guess what team? Like, the feature requirements are completely different. Like, instead of having to build the enterprise, incredible version, that's going to win people away who are like veterans, right? We get to start with, like, the people who need the simplest things, you know, like that was the other exciting part is that, wow, you're just doing addition, subtraction, multiplication, division, basically, right? Like, okay, great. You know, I don't have to like, cuz I will say, you know, I don't want to leave this part out, like there was a pivotal moment in those 18 months where I was, hadn't decided yet that this is where we were going to go. And I found myself torn, trying to build more and more sophisticated tools and analysis for that really confident diehard user. And they were so demanding, and so exacting, and I was just barely getting, like, I'd say a b plus, with them. And it was causing me to almost have to go, Okay, this is going to end up being a consulting business, if I'm not careful, because I'm going to end up having to do a lot of bespoke work a lot of custom work for them, I'm going to end up, you know, having to get into the models that mean, I have to become a data scientist, like it was just so intense, that I realized, okay, this is not the business I want to build either like, this is just a bad fit from a, you know, I want a high margin, self serve SAS business. And I might come back to y'all. But this is not where I'm going to start. I can't I can't start here, because there's only one of me. At that point, there was one of me so. So I made the decision, then, okay, we're going all in on the other side. And that also allowed us to say, wait a minute, you know, all these opinions, we were baking into the product, all these best practices, all these things, we kind of need to like, lower that not come across as so proper and formal and the right way to do things, you know, you can only do things the right way, right? We actually need to be more invited, it changed our whole brand, right? We went through a rebrand where we said, instead of being serious and professional and discipline looking like Wall Street kind of style branding, you know, traditional financial branding, we actually said, what if we were playful and inviting and inclusive, and, you know, just warm and friendly with our branding, that would actually resonate more with these people who treat this stuff as their playground, right, like you said, and so it didn't just affect your product strategy, you know, really changed our whole positioning and brand identity, once we realized that this was the this was the side of the person we wanted to go after. Right?Michele Hansen  28:48  Hmm. It's so interesting that there were multiple inflection points there. Were you really stopped to think like, is this the business we should build? Whether that's from a product perspective? Or from a, you know, like a business perspective? Like, is this the business I want to be in? And when those points came? In sounds like you were quite reflective about them. And, you know, you know what, when you're at that point where you realized, you know, that, you know, that people were not doing the modeling, you initially thought they were on the frequency that you hoped they would be. You could have been threatened by that discovery. And you could have decided to, you know, give up or dig your heels in on it. And you didn't, and I think that it's such an important mental shift that needs to happen in order to really do customer research well, is to be open to what you're going to hear and to follow it wherever it's going to take you. And so you initially thought You were building a serious financial modeling tool for, you know, say startups, CFOs, and founders that is polished and professional, and they can give it to their boards or whatever. Yep. And, and then it turns out, you're actually making this fun private playground for them to make decisions in, in a way that helps them do it faster, and maybe doesn't use all of the skills they have about, you know, you know, decision support systems they learned in business school, but instead, it's somewhere that's like, safe. And yeah, for them. That's a very different business than you thought you were building. And you allowed yourself to be, you know, sort of led by the customer, still applying your own, you know, analysis on top of that, still asking yourself, you know, of all of these different directions that customers leading me in, or I could allow them to lead me in, you know, are those businesses I want to be in? Are those products I want to build? Is that is that the future I want for myself and for this company? And you allow that answer to be No, right? You didn't just force yourself into it. But you said, No, and we're going to do something else. Because there's something else that's interesting here, like there's still something here. Yeah. And maybe that's not it, but there's something else, but allowing yourself to sort of just just sort of to go with it, but still be steering it at the same time. And I don't I don't know if I'm quite conceptualizing that very well.Matt Wensing  31:40  No, yeah, it describes, you know, basically describes, I would say, December of 2020, in January 2021, where we just realized that I realized that this was not the right segments, this is not the right value prop for the right, you know, hats that people were wearing. And we were able to charge more money, but it wasn't going to grow the way I wanted to. So we rebuilt the darn thing, again, for hopefully the last time in April, May and June of this year, and then release the beta version in July. And it's really exciting. Now we've had three months of growth, we've had three months of consecutive growth, which had never happened before. Right. So revenue up each month, and retention. So we've actually had negative net negative retention each month, which has never happened before, either. So it turns out these people love it, it's doing what they want to the prices, right? And there's a lot of them. So I'm like, This is great. You know, you know, we have that we have a business and I will come it's funny, full circle, we now have some of our users who are founders, saying, hey, one of them, it blew my mind, he shared a screenshot of a zoom call with his board, where he did show summit on the call, which he never would have done with the G sheet that he created. Right. But because it looks like rigor, it looks rigorous. It's actually doing justice to his thoughts. Like he's a super smart person. But I think the problem before was like a mismatch between, you know, the tools that he had to express his logic and his thinking and his, his conceptual gifts, right, like, very, very talented, but like, you put them in front of a spreadsheet, and he would, you know, that just wasn't his native tongue. Right. It wasn't where he wanted wasn't the right tool for him to express those thoughts. Now that he and they have that they are starting to share them more on tweets, and with board meetings and like, which is great for us. But I think it's a testament to the fact that they're proud of their work now. Right. And that's really exciting for us. So yeah, it's it's a journey.Michele Hansen  34:01  It sounds like it has been, I mean, an incredible journey so far. I'm I'm super excited to see where this takes you. i You know, I've had a little bit of experience with with you know, with working with analysts myself, because I used to work in sort of the the financial space and I definitely knew a lot of people who love their spreadsheets and, you know, like genuinely reveled in making discounted cash flows and excel and very proud of your macros. Yeah, thing. And, yeah, yeah. Like, just like, and I mean, I feel like I have a little bit of that where I like, you know, genuinely enjoy, like playing in a spreadsheet. Yeah. And it's been so cool to see everything that you're sharing about different kinds of things that you could do with it, but also people doing it for their own personal budgeting and like, you know, founders, like founder financial situations are always so like weird and different and like, figuring out whether, you know, can I? Can I do this? Can I send my kid to this school? Can I, you know, can I buy a house, you know, all of those sorts of different things. Um, really, really exciting stuff. And, and, you know, I noticed you tweeted recently that you feel like you're getting to that, that point where it's really, it's really starting to take off and have that. You know, you know, you feel like you have found the product, you have discovered the products, which is the hardest part, and that you're getting those rabid fans. And actually, I told you this already, but I was at a wedding a couple of weeks ago. And these table I was sitting at like the, you know, there are two guys who work in finance sitting across the table from me. And like one of them was like telling them like about summit and how awesome it was and how he had to get access to it and all this like stuff you've built with it, you know, and I was on the other side of this huge table, and I wasn't really part of that conversation. But I was like, What are they talking about what they think I think, you know, wow, like, Oh, my God, like the internet in real life happening at this table at wedding.Matt Wensing  36:12  Founders delight right there. Yeah, yeah.Michele Hansen  36:16  But I think there's, I think we're gonna be hearing a lot more of people using summit and stuff so you can do with it. It has been an absolute delight talking to you today. Thank you so much for giving us some insights into your customer research and product discovery process. I really appreciate.Matt Wensing  36:38  You're welcome. Thanks for having me, Michelle.Michele HansenThis episode was also brought to you by Tella.Tella is a browser-based screen recorder for videos that showcase your work and share your knowledge.You can capture your screen, camera, and present slides. You can also customise your videos with backgrounds, layouts, and other video clips.Tella makes it easy to record updates for your team mates, launch videos for your followers, and demos for your customers.Record your next product demo with Tella.Visit tella.tv/softwaresocial to get 30% off Tella Pro

Inside the ICE House
Episode 270: Chipotle CFO Jack Hartung: Integrity is on the Menu, But the Guac May Be Extra

Inside the ICE House

Play Episode Listen Later Nov 15, 2021 55:09


Jack Hartung, CFO of Chipotle Mexican Grill (NYSE: CMG), explains how Chipotle leverages its mission of providing fresh food with integrity to create value on the balance sheet. The result? Exceeding the expectations of its employees, partners, and customers. Jack and CEO Brian Niccol have the company poised to win in the digital economy through investment in innovations, from Chipotlanes to robots. Jack also talks about the state of the restaurant industry and using a brand to cultivate a better world.   Inside the ICE House: https://www.theice.com/insights/conversations/inside-the-ice-house

The Modern Therapist's Survival Guide with Curt Widhalm and Katie Vernoy
Is Your Practice Ready for Paid Digital Marketing?

The Modern Therapist's Survival Guide with Curt Widhalm and Katie Vernoy

Play Episode Listen Later Nov 15, 2021 34:02


Is Your Practice Ready for Paid Digital Marketing? An interview with John Sanders, owner of RevKey, about Google and Social Media Ads. Curt and Katie talk with John about the importance of a solid website, effective sales process, and metrics when considering paid digital advertising. We also explore what to expect when you create Google or Facebook Ads. We also talk about why you may want to outsource this and the financial risks for getting this marketing wrong.    It's time to reimagine therapy and what it means to be a therapist. To support you as a whole person and a therapist, your hosts, Curt Widhalm and Katie Vernoy talk about how to approach the role of therapist in the modern age. Interview with John Sanders, RevKey John is an expert in paid search, specifically, Google Ads (which used to be called Google AdWords). He holds a BBA and MBA, and he has put this education to work in a variety of positions in the marketing field, including inside sales, purchasing, E-Commerce, and marketing management. Once he found Google Ads, John was hooked. He enjoys helping businesses generate leads through Google Ads that will help their companies grow, and he has partnered with businesses in a range of professions, including medical offices, B2B companies, and national product brands. John can help your business achieve its full potential. In this episode we talk about: Google Ads and other digital advertising (social media for example) The mistakes folks make in purchasing digital ads, typical pitfalls Specific to Google Search Ads: why not to use smart or dynamic ads Keywords and negative keywords The importance of tracking your results and what results you're looking for The difference between social media and Google ads What a good ad looks like and what page it goes to What's needed on a website before starting Google Ads (sufficient, relevant content and pages) Service pages and the specificity of the search How social media ads work (e.g., Facebook and Instagram) Building an audience within social media to target with your ads The value of an ideal client or niche when using social media ads Social media is more of a branding exercise than Google Ads Facebook has a lot of specific rules for advertising What return on investment you should expect, the goal of placing ads How to assess what is not working Looking through the full sales cycle to determine where to improve efforts (including answering your phone) The technical savvy that is needed to run and assess these ads The usefulness of Google analytics Determining DIY versus hiring out advertising How to outsource paid digital advertising How to determine the average value of a client Advantage of paid digital advertising versus Search Engine Optimization (SEO) The potential to lose money if this is done wrong The benefit if it is set up properly Setting up a multitier marketing plan including Google Ads and SEO Our Generous Sponsor: Trauma Therapist Network Trauma is highly prevalent in mental health client populations and people are looking for therapists with specialized training and experience in trauma, but they often don't know where to start. If you've ever looked for a trauma therapist, you know it can be hard to discern who knows what and whether or not they're the right fit for you. There are so many types of trauma and so many different ways to heal. That's why Laura Reagan, LCSW-C created Trauma Therapist Network.  Trauma Therapist Network is a new resource for anyone who wants to learn about trauma and how it shows up in our lives. This new site has articles, resources and podcasts for learning about trauma and its effects, as well as a directory exclusively for trauma therapists to let people know how they work and what they specialize in, so potential clients can find them. Trauma Therapist Network therapist profiles include the types of trauma specialized in, populations served and therapy methods used, making it easier for potential clients to find the right therapist who can help them.  The Network is more than a directory, though. It's a community. All members are invited to attend community meetings to connect, consult and network with colleagues around the country. Join our growing community of trauma therapists and get 20% off your first month using the promo code:  MTSG20 at www.traumatherapistnetwork.com.   Resources mentioned: We've pulled together resources mentioned in this episode and put together some handy-dandy links. Please note that some of the links below may be affiliate links, so if you purchase after clicking below, we may get a little bit of cash in our pockets. We thank you in advance! RevKey.com   Relevant Episodes: Bad Marketing Decisions The Brand Called You Creating Relevant Ads Hostage Marketing SEO Guide for Therapists Marketing with Empathy Clinical Marketing Branding for Your Ideal Client Connect with us! Our Facebook Group – The Modern Therapists Group  Our consultation services: The Fifty-Minute Hour Who we are: Curt Widhalm is in private practice in the Los Angeles area. He is the cofounder of the Therapy Reimagined conference, an Adjunct Professor at Pepperdine University and CSUN, a former Subject Matter Expert for the California Board of Behavioral Sciences, former CFO of the California Association of Marriage and Family Therapists, and a loving husband and father. He is 1/2 great person, 1/2 provocateur, and 1/2 geek, in that order. He dabbles in the dark art of making "dad jokes" and usually has a half-empty cup of coffee somewhere nearby. Learn more at: www.curtwidhalm.com Katie Vernoy is a Licensed Marriage and Family Therapist, coach, and consultant supporting leaders, visionaries, executives, and helping professionals to create sustainable careers. Katie, with Curt, has developed workshops and a conference, Therapy Reimagined, to support therapists navigating through the modern challenges of this profession. Katie is also a former President of the California Association of Marriage and Family Therapists. In her spare time, Katie is secretly siphoning off Curt's youthful energy, so that she can take over the world. Learn more at: www.katievernoy.com A Quick Note: Our opinions are our own. We are only speaking for ourselves – except when we speak for each other, or over each other. We're working on it. Our guests are also only speaking for themselves and have their own opinions. We aren't trying to take their voice, and no one speaks for us either. Mostly because they don't want to, but hey.   Stay in Touch: www.mtsgpodcast.com www.therapyreimagined.com Our Facebook Group – The Modern Therapist's Group https://www.facebook.com/therapyreimagined/ https://twitter.com/therapymovement https://www.instagram.com/therapyreimagined/   Credits: Voice Over by DW McCann https://www.facebook.com/McCannDW/ Music by Crystal Grooms Mangano http://www.crystalmangano.com/   Transcript (Autogenerated)   Curt Widhalm  00:00 This episode is sponsored by Trauma Therapist Network.   Katie Vernoy  00:04 Trauma therapist network is a new resource for anyone who wants to learn about trauma and how it shows up in our lives. This new site has articles, resources and podcasts for learning about trauma and its effects, as well as a directory exclusively for trauma therapists to let people know how they work, and what they specialize in so potential clients can find them. Visit trauma therapist network.com To learn more, listen at the end of the episode for more about the trauma therapist network.   Announcer  00:31 You're listening to the Modern Therapist's Survival Guide, where therapists live, breed and practice as human beings to support you as a whole person and a therapist. Here are your hosts, Curt Widhalm and Katie Vernoy.   Katie Vernoy  00:47 Welcome back modern therapists This is the modern therapist Survival Guide. I'm Curt Widhalm with Katie Vernoy. And this is the podcast about all things that therapists face. Sometimes their business stuff, and today's episode is diving into the world of online digital advertising. Any of us who are working through the pandemic have our small businesses, needing to find ways to potentially reach new clients that we haven't had to in the past. I know for people like me, I've built my practice largely on in person networking and some of those relationships. But it's as I get asked by some of the listeners of like, I'm ready to start a practice now. How do I develop a practice like yours? And I say, I don't know, because we're not allowed to beat people during the pandemic. I don't know, maybe like find some Google ads or some Facebook ads. They're like, Well, what works for you. And I'm like, talk to our guest today. John Sanders from RevKey, this is something that he's going to be able to speak on way better than I am. John, thank you for joining us today.   John Sanders  01:54 Thanks for having me.   Katie Vernoy  01:56 We're excited to have you here I was so I don't know what the right word pleased. I'll just say pleased, I was so pleased when you reached out to connect related to the conference, actually, and I'm so excited that you're one of our conference sponsors. Thank you so much for your support. But just in talking with you and about RevKey and what your mission is, I am really excited to have you to talk with our audience about this area that I think a lot of folks just don't know anything about and can be a real great way for people to market their practices. So we'll dive right in with the question we ask all of our guests, which is who are you and what are you putting out to the world.   John Sanders  02:34 So I'm John Sanders. I'm the owner of RevKey. And I focus on Google ads for mental health professionals, probably 90% of my revenue is generated by therapists and counselors who are looking to increase the size their practice, and get new clients either for themselves or for therapists who are working for them. I started doing this I, I kind of got into this a little bit of a natural way, my wife opened her testing psychology practice. And so I started running Google ads for her while I was also running Google ads during the day doing a day job at a marketing agency. And over time, helping her started helping a couple of her friends. And then 2018, it just became my entire job. And I quit my marketing agency job. And I opened rev key and I haven't looked back since.   Katie Vernoy  03:28 Nice, I like it. There's a lot of mistakes to be made in buying digital ads, rather than going networking to a small community where people might be able to get to your physical office or that kind of stuff. Now you're potentially advertising to the whole world. What kind of mistakes do you see people making when they're first moving into some of these online ads that if we can save them a few dollars here and there to be able to be more effective with them? What kind of mistakes do you see that people could avoid?   John Sanders  04:02 Sure. So with Google ads, some of the most common mistakes are setting up what's called a smart advertising campaign where Google really does most of the work for you. But it really doesn't have a lot of options in terms of customizing different ads, and trying to avoid clicks that you don't necessarily want. So if you're going to use Google ads, and when we're talking about Google ads, we're talking very specifically about Google search ads. And those are the advertisements that appear on Google after somebody searches something, make sure you're using the full version of Google ads and not not a smart ad. I'm not a big fan of their dynamic ads that just scan your website, you can end up with all sorts of weird traffic based off of that. We want to be able to go and specifically say these are the keywords that we want to target and then we want to be able to look at the search terms what people are actually searching to come to your website, a couple of other things that that I commonly see when people come to me who are running their own Google ads is not having any what are called negative keywords. And those are words that you put into Google and say, if this word appears in the search, do not show my ad. And probably the most common one that I see is massage. So I'll see a bunch of people will say therapy near me, and they'll get a bunch of searches for massage therapy near me, which is what we absolutely don't want. And then probably the final thing is not really having a good way of tracking your results, not really knowing how many people are calling you, because your ads not knowing how many people are filling out forms. And so you don't really know if Google ads is working for you if you don't do those things. So all of a sudden, Google ads just becomes you know, a charge on your credit card every month that you're just not sure if you're getting anything out of it. So that measurement piece is super important.   Katie Vernoy  06:00 So there's different types of ads that I know that you work on. I know you do Google ads, but you also do social media ads. And to me, it seems like most of these platforms are cost per click or cost for per view, or the more people are responding to clicking into seeing your ad, the more you're going to pay. And so it seems like there's some nuance there that would be important for people to understand what they should use, which one is better for their practice that kind of stuff. So talk to us a little bit about. And maybe this is way too big of a question. But as far as like, what does a good Google Ad look like? Why should someone think about Google ads? And then also looking at the the social media ads, and when that is potentially the right choice, the better choice a good addition? You know, it's kind of like, what are we talking about here, when we're saying digital marketing, online, paid ads?   John Sanders  06:54 Well, let's start with social media ads. In this case, they are a very different animal from Google search ads in that if somebody searches you on Google, they are at least somewhat through their buying journey already to use a little marketing speak, they have already decided that they need a therapist, and so they type in something like therapist near me or counseling near me. And then you know, we want to show them an ad that really deals with what they're looking at. So for example, if somebody types in anxiety treatment near me, or anxiety treatment in their city, I want to show them an ad that talks very specifically about anxiety, I don't want a generalist ad, I don't want something that includes something about couples counseling, or anything that's not related to anxiety, I want then them to click onto my ad. And I want to take them to a page on a website that talks very specifically about anxiety treatment, I don't want to take them to a page that is a bullet point of services, or a homepage that has a whole bunch of other things that they're not looking for, I want to take them to a page specifically about anxiety. And ultimately, the goal is for them to either call you fill out a form or go to, you know, some sort of scheduling link. And that's really the process when you advertise on Google that you should think about as every time you're putting in a keyword thinking, What page is this going to? And how is this going to be successful. And that's really kind of how you should write your ads. And also be thinking about your website. You know, one of the things that we had talked about previously is that before you start Google ads, really getting a good website going is very key and having what we would call service pages, where you have a page very specifically for all of the specialties that that you do, instead of having that page of just bullet points, because that's not going to engage customers. Also, Google's constantly judging our ads. And they're not going to really see that as a high quality landing page. And so your ads are going to get judged by Google for that. So it's really good to have those pages in place before you start advertising both from a Google standpoint, and also from a potential user standpoint as well.   Katie Vernoy  09:12 Yeach you don't want to pay for something and send them to a website that then talks them out of working with you.   John Sanders  09:18 Right, or just doesn't have any information. And yeah, and I know that it's really easy to fall into that trap is, you know, if you're just starting out, you go on WordPress, and you put together your first website, to not include enough content out there. But really the it's it is very key to make sure that you have that content before you start trying to advertise,   Katie Vernoy  09:41 you know, you talked about kind of being a certain way through the the buying process or the or whatever when they're searching on Google for a therapist, but when we're looking at Facebook ads or Instagram ads or any of the social ads, like how do those work and what are those best use for   John Sanders  09:59 So Facebook and Instagram ads are both run out of the same platform. And the way that you target customers is by creating what's called an audience. And this is a combination of behaviors and demographics and interest that people have. So you can say, show my ads to people who have job titles similar to therapist or something along those lines. And you can put in several different ones. You can also do it based off of behavior have they come to your website before that is what's called remarketing, although that's going to get a little more difficult in the next year as kind of that cookie based remarketing that a lot of people have heard about is going to start to go away. So you can target people based off of their age based off of their location based off of particular interest they might have. And so it's really good to use social media ads, when you have a very specific idea of who your audience is, in terms of those demographics. If you're more of a general therapy practice, you're you're going on a little bit of a fishing expedition, because you're going to write kind of a general ad towards a general audience. And that's not necessarily a bad thing. But we can't measure it in a lot of the same ways as a Google search ad where they're already so far through the buying process, you could end up showing ads to people who don't think they need a therapist, or I've never even thought about getting a therapist. And so then it's much more of a multistage situation where you're trying to get them to come to your website, and then maybe you serve them some remarketing ads, or you send them an email or something along those lines. And so I really kind of warn people that when you're doing social media ads to not necessarily hold them to a the same standard as Google, but also to think about a little more as an exercise in branding than what I would call direct conversion.   Katie Vernoy  11:57 You're saying that direct conversion be more likely if they have a product or a book or or some sort of like an event like something that's very specific, that's going to be a better social media ad than, hey, do you happen to be ready for therapy right in this moment, and I've targeted you appropriately.   John Sanders  12:17 Right, exactly. And also, with social media ads, you have to be very careful about the wording you use. For instance, you know, if you try to use the word, you in a Facebook ad, your ad could get disapproved, because you're trying to talk directly to the customer, which Facebook does not like, and Facebook has a number of rules around, you know, the wording and usage it within within your ads, and probably more rules than Google has on that front.   Katie Vernoy  12:48 What makes a successful campaign, you're talking about getting better results here. How do you interpret whether or not what you're doing is successful?   John Sanders  12:55 You know, when we talk about it within Google ads, if we are getting 100 clicks for a customer, I want to see how many of those actually turned into phone calls, leads scheduled clicks. And look at that in terms of our percentage, generally, I want that percentage to be at least 5%. So if 100 people click on your ads, I want at least five of them to do something. And then we also have to look at how much you're spending for each of those leads. And then ultimately, the most important thing is, are those leads turning into customers and revenue for you. If you get into a situation where you're spending $500 a month on Google ads, you want to make sure that you are getting a good return for for that $500 ad spend. And that's where kind of tracking get with you know, your assistant to make sure that those people that are clicking on your ads are actually turning into clients is super important.   Katie Vernoy  13:54 When you're finding that people are not hitting like that 5% What do you see as often kind of contributing to that? Or what kinds of steps do you look at to evaluate where things aren't converting?   John Sanders  14:06 Sure. I think it depends on the, you know, where people are kind of dropping off in the process. You know, for instance, if you know, somebody comes to me, and shows me their Google Ads account, and they're saying, I'm not really getting anything off of this. And I find that you know, less than 1% of people are actually clicking on their ads, that's usually an indication that you have an ad problem, or your ads are being served on search terms that we don't want to go back to the massage therapy example. If you're advertising anxiety therapy and somebody types in massage therapy near me, your ads never kind of get clicked on. So that's that's one of the first things to to look at. If people are then you know if people are actually clicking on your ads that are relatively recent, right, which I would define as about at least two to 3% of the time. I know they're getting to your website. Are they spending enough time on your website? If you find find that your average time on your website is from people from your ads is 30 seconds, they're not spending very long on your website, and they're not seeing a particular bit of content that that they are looking for, kind of the measure that I have for that is I want to make sure people are spending at least 60 seconds on your website. And to go back to the previous example of the service page that just has bullet points. If you're running ads to that, typically people are going to look at that and go, and then they're going to click off under 30 seconds, and you're not going to end up converting that client.   Katie Vernoy  15:37 There's a lot of stuff you're talking about that sounds pretty technical, which is, you know, kind of monitoring the click rate monitoring, you know, and kind of what percentage are people clicking and what percentage of people are actually getting to the website, and how long they're spending on the website? That seems like a lot to first figure out how you can actually get that information. And then also a lot to try to sort through like for DIY errs Is it obvious if you're able to get a little bit technically savvy, how to get that data, so you can even look at it.   John Sanders  16:14 Google Ads has a lot of different menus in it. And so that can, especially if you don't know what you're looking for, can be a little difficult. In a lot of cases, you're having to pull information from another program called Google Analytics, which even if you're not running Google ads, you should definitely have Google Analytics installed on your website. So you can see how many clicks overall, you're getting, how long people are spending on your website, getting information about about those individual pages,   Katie Vernoy  16:42 it seems like people need to have at least some some knowledge and have installed at least Google Analytics to be able to see some of this data.   John Sanders  16:51 Right. And that's one of the first things that as a common mistake that when people will come to me and they're they've maybe they've been running their own Google ads, that they haven't installed Google Analytics, or they haven't put on those negative keywords that we've talked about. Or you don't really have any of that measurement, which is not necessarily obvious in Google ads. And in a lot of cases, you have to involve things like Google Analytics, or even third party programs, if you're looking to track some calls,   Katie Vernoy  17:18 as far as some of the time investment to figure this kind of stuff out. And I'm guessing the monetary mistakes to try some of these things out, see what's effective or not, is this worth a clinicians time to invest this kind of stuff? Or is this kind of one of those things where the best advice is, have people who are good at this pay for their services and let them do their thing, we don't want them treating suicidal clients, we want them to refer to us therapists is this honestly, just something where it's a better use of clinicians time to hire out these kinds of services,   John Sanders  17:58 I would say for the most part, this is something you want to hire out. Much like I hire out graphics design or accounting, I don't like to do accounting. That's why I have an accountant. And I could spend my time and try to figure all of this out. But I probably wouldn't end up doing that good of a job on it. As somebody who professionally does it day in and day out. That's not to say you can't I've had some very technically minded therapist, especially a couple of them that, you know, maybe used to work in it. And this is their their second job, those guys have been able to understand it fairly well. But for the most part, I would say most of the people who try this themselves, they fall into some of these traps that we've talked about. And they potentially end up wasting a lot of money on Google, that doesn't really lead to any clients.   Katie Vernoy  18:47 Yeah, I think to me, the financial downside of doing this wrong can be pretty high, especially if you set it and forget it. And to me, I feel like this is something that I cannot emphasize enough that if you can get it right. I mean, this is a way to have marketing just happening in the background all the time. And this is kind of what therapists desire, like I don't have to do anything and I get clients. And so it's interesting because I think a lot of people are worried to invest. How would somebody identify a good return on investment for outsourcing Google ads, outsourcing potentially other paid online marketing? And and kind of what that would look like? Like, let's just say a solo practitioner who's wanting to start or grow their caseload like, what should they expect as far as being able to get something like this set up? And then what would that return look like?   John Sanders  19:46 I think to answer that question, you have to start with, what the average value of your client is, what you're charging, how many sessions you're keeping them. And if you can, look at that. data you can figure out, well, I charge, let's say, $100 an hour, people tend to stay with me 20 to 30 sessions. So we have each customer being approximately worth two to $3,000. And then you have to think about how much would you be willing to pay for one of those customers. And so, you know, we go back to what we talked about earlier, where let's say you're spending $500 on Google a month, if you can get one client out of that, who's two to $3,000. In revenue, that's a pretty good when and if you get any more than that, it's enormous. If you can be getting four to $6,000, of revenue off of $500, in advertising spent. And you also do have to kind of keep in mind, especially if you're, if you're doing therapy, you have to kind of think about that long term return on investment of what that client is worth, you know, over their lifetime to you, as opposed to on a month to month basis. I think that that's a mistake that that some people make, they'll say, Well, you know, in month X, I'm only gonna make x on this. But you have to not necessarily think about month one, you have to be thinking about months 2345 and six,   Katie Vernoy  21:11 how long does it take to reasonably expect a return on is that it I hear clinicians who are like, Oh, I'm hitting a slowdown portion of my schedule, you know, summertime slowdown or something like that, now's the time that I should be investing in Google ads, are they going to see the kind of quick turnaround to fill up their practice with this kind of an investment? Or is this something that needs to be planned out even more ahead of time on something like this,   John Sanders  21:37 the advantage that Google ads and digital advertising in general has over I would say search engine optimization is that it is something that you can do, and get on the first page. Like if you're a solo practitioner, who's just gotten started, if you try to organically grow on Google, that can take six months to a year, for you to really start getting some clicks off of that the advantage Google Ads has is you go tell Google can show these ads for these particular keywords. And you can get on to that first page, really, really quickly. And really kind of that first 30 days for me is is the period of where I'm figuring out in a specific market, you know how much I'm going to pay for each of those clicks. And that's gonna vary greatly, depending on the market, and what you are trying to advertise. If you're trying to do couples therapy in New York, be prepared to pay eight to $10 per click. If you're trying to do general therapy out in a suburb, you might, you know, only pay three to $5 that click. And that is very much based off of who else is there who is trying to advertise? To get an idea of that what you need to be bidding on those keywords? And then also looking at those results. Are you are you seeing the results? Are people staying on your pages long enough? Are they calling YOU ARE THEY filling out your forms, and that's where you start to to make adjustments, and then over time, you will figure out, you know, I need to change the content on this page, or I need to not advertise in a specific neighborhood that maybe is too far from your practice. And that's kind of the optimization process. And then also looking at, and I would say that this is probably the most important thing for the DIY audience out there is to look at the search terms that are causing your ads to appear. And if most of them are good, you're probably going to do really well. But if you see a bunch of nonsensical therapies, and I see all sorts of different types of therapies that come up that we want to add to the negative keyword list, if you're spending a lot of money on things that aren't relevant to your business, it's going to be very hard for you to succeed with Google ads.   Katie Vernoy  23:53 One of the things that I'm hearing and correct me if I'm wrong is that there's the initial optimization process of making sure that your ad was reading properly, has the right keywords, has good negative keywords. And then it's driving traffic to a page that actually closes the business, so to speak, and gets people to sign up for consults or call the practice or whatever, and to become clients. So there's, there's a part that truly needs to be the therapist or the therapist with a marketing specialist on making sure the webpage that you're driving traffic to is going to convert and going to be targeting the right people. And then also potentially really looking at what is your intake process look like? What is your call look like? You know, do you have? Like, can you get all the way through the sales cycle, so to speak, but once you get that set up, once you have an optimized ad, you have your page is on fire. You you close the call, and you're getting clients, it almost feels like it could be a spigot that your turn off and on with Google ads, because you'll you know, I assume that there's going to be a job So with algorithms and that kind of stuff, so there's still a little bit of tweaking after that. But to me, it seems like once it's set up, then that process of the summer slowdown that Kurt's talking about would be like, Okay, well, we just need to in about two weeks before we want to get some more clients, we just turn on the Google ads. Am I Am I oversimplifying that too much.   John Sanders  25:19 I think it depends on the practice. I think if you're a solo practitioner, I think that that can definitely be the case, I have larger clients who, if they've got 10 therapists, and all of them get full, they go out and hire two more. And then so those Google Ads kind of continue on going. Or for more of your midsize practice that, you know, is four or five people and they hire a new therapist who is specialized in couples, then it's okay. For these couple of months, let's go ahead and run ads for couples and marriage and relationships and really focus on those pieces. So I think that that really depends on the size of the practice. But I think that you are right, in that for smaller practices, you can do that it's probably the number one reason I lose customers is because they get fault, which is a it's a high class problem to have. But it's still a problem.   Katie Vernoy  26:12 So you need more clients   John Sanders  26:14 Well and one of the things I'm also working on right now is is doing a search engine optimization product, because that is the sort of long term planning, and is also another complicated subject of being able to help build practices over the over the long term, like I said, that can take six to nine months for Google to really start recognizing your website with when they crawl it and saying that this is a high quality website and should appear higher up in the search results.   Katie Vernoy  26:42 I think that ends up being a good plan where you start with Google ads, and in the background, you're building the SEO. So it seems like it's a natural partnership, for sure.   John Sanders  26:50 Right   Katie Vernoy  26:51 What kind of tips do you have, you know, spending the last moments here of the podcast here of how those two things fit together? I mean, you're talking about outsourcing this, but for clinicians who are trying to picture okay, I've got the ads, what needs to go on to the website in order to keep people there who are engaged, do I just like, put a video that takes 45 seconds to load so that way, they're going to stay for a minute,   John Sanders  27:18 Google won't like that at all.   Katie Vernoy  27:21 And if the video doesn't load, I'm off that page in 10 seconds.   John Sanders  27:25 Absolutely. Google. And Google knows that. I mean, one of the things that when Google's judging a landing pages, not only is it judging, you know, the content, but it also like if you have images or videos that roll out really slow, Google is not going to show your ads as high up in terms of you know, some of the other things a writer I regularly work with, you know, recommends that you have, you know, four to 500 words on that page. Not only does that give Google enough keywords to grab a hold of and say okay, that this is high quality for an anxiety search. But also, it allows people who are actually looking at it to go yes, this is this is what I'm feeling this is, you know, this is what's happening with me, and to kind of get them nodding their head, and then you know, hopefully, getting them to take that next step of contacting you somehow.   Katie Vernoy  28:16 I think it's something where the hard truth for folks that want to get clients quickly, because I think I've definitely had consulting clients that are like, should I do Google ads, and I was like, let's look at your website first. And I think the hard truth is, sometimes there is quite a bit of work that needs to happen before you really can take this into, into your marketing strategy. Because if you're spending money to send them to a website, that does not reflect who your ideal clients are, does not connect with your ideal clients, and does not show you in the best light. It's it's just throwing money in a hole, and it's not actually getting you results. And it can be very discouraging. And so there may be some work to do ahead of time to get prepared for the calls to get prepared for the web traffic. But once you actually have that in place, it sounds like Google Ads can be a way that you can really, pretty quickly start building a caseload and the return on investment can be very high, especially if you if you have a fee and a length of treatment, typical length of treatment that makes each client worth 1000s of dollars. And you know, even if you're only getting one client a month, you know, that still ends up being a nice return on investment. And usually I'm hearing people get more than that. Do you have a sense of like, if you've got a really good, optimized ad, like you know, and a reasonable spend, you know, how many people are typically getting, how many clients people are typically getting?   John Sanders  29:48 Well, let's you know, take that 100 Click example. And you know, we talked about 5% Earlier, let's double that. Let's say let's say you're doing really well and you get you get 10 people who contact you, then it gets down to that, that that close process that that we talked about earlier, are you are you answering your phone is a common thing that I'll end up talking to clients about who I'll notice off of my call tracking software, they're not answering their phone, and they're getting a bunch of voicemail messages. But if you can take those 10 leads, and you know, you can turn six of those into clients, you know, all of a sudden, your your return on investment, if you're spending $500, you know, you could be looking at several $1,000, and potential long term revenue. That's huge. And, um, it is very hard to find a way to do that anywhere else. You had mentioned the work that goes up front, very often, when people contact me, they'll say, Hey, I'd like to run Google ads. And you know, I really have to tell them, Okay, go work with a content writer, go work with, you know, web designer, let's let's get your website in a good place before we try to run those ads. Because otherwise, I'm going to start running ads, you're not going to get the results and you're just going to get mad at me. And that's just no fun. I, I'd much rather do all of that upfront and delay working with a client for three months. And this happens on a fairly regular basis where I'll refer people out and then they come back three months later and say, okay, my website's ready. Let's go ahead and run those ads.   Katie Vernoy  31:14 Yeah. And I would add, make sure that you have a conversation with someone if your close rate isn't what you'd like it to be if you get a lot of calls, and nobody becomes clients. There's other folks to talk to about that as well.   John Sanders  31:26 And I think Google ads, especially once you put some of those tracking metrics on there, that makes it very obvious very quickly. For instance, I have some larger practices who will go through those call logs, and they will, you know, really scrutinize those and you know, potentially say, you know, why aren't these these people closing? If you're seeing a closed rate of only 30%? You know, you have to start asking those questions about what's going on with the intake process that's causing that drop off?   Katie Vernoy  31:54 Where can people find out more about you and your services.   John Sanders  31:57 Sure, if you want to know more about me and what I'm about, go to redsky.com, that's revkey.com. And feel free to fill out that form on the website. And I will get back with you really quickly because because this is what I preach to people all day. So you've you've got to follow up on those leads. So and then, you know, typically what I do is, you know, start with a conversation where we talk about their practice and how many people they have and you know what specialties they they want to run for. And then put together a proposal and send it over to him and hopefully start working with them.   Curt Widhalm  32:35 And we'll include links to that in our show notes. You can find those at MTSG podcast.com. And until next time I'm Curt Widhalm with Katie Vernoy and John Sanders.   Katie Vernoy  32:46 Thanks again to our sponsor, trauma therapist network.   Curt Widhalm  32:49   If you've ever looked for a trauma therapist, you can know it can be hard to discern who knows what and whether or not they're the right fit for you. There's so many types of trauma and so many different ways to heal. That's why Laura Reagan LCSW WC created trauma therapist network. Trauma therapist network therapist profiles include the types of traumas specialized in population served therapy methods used, making it easier for potential clients to find the right therapist who can help them. Network is more than a directory though its community. All members are invited to attend community meetings to connect consults, and network with colleagues around the country.   Katie Vernoy  33:26 Join the growing community of trauma therapists and get 20% off your first month using the promo code MTSG20 at Trauma therapist network.com Once again that's capital MTSG the number 20 at Trauma therapist network.com   Announcer  33:43 Thank you for listening to the Modern Therapist Survival Guide. Learn more about who we are and what we do at MTSGpodcast.com. You can also join us on Facebook and Twitter. And please don't forget to subscribe so you don't miss any of our episodes.