4 Episode results for "Chief Lending Officer"
Should You Hire a Rep with a Rolodex? With Scott Sambucci
"A start up selling and going over the same topics as we are most the time and has really good resource so I recommend that everybody go listen to that podcast as well and hi everybody welcome to another episode of startup sales really excited for today's guest we have Scott Bucci Scott actually has his own podcast called hey everybody before we get started in the hardest part of this early stage still no sales process trying to build it's putting it together make sense of everything startups are hard as already but tough decisions from others who have had both successes and failures and now your host of the startup sales podcast Adams Springer make is that they try to sell to everyone so if you're literally trying to get off the ground you're in you're just trying to get going the best thing you can do is pick a specific target background personally expense about fifteen years in Silicon Valley of worked at three different B. Two B. Enterprise Tech companies getting them each of those wrong enjoyed this episode Scott stood up sales is a podcast about what it's really like to get a business off the ground we walk with founders CEOS and sales VP's from the high tech market you'll learn how to build and scale a sales team you'll also hear about the grow challenges and more and more content like this really appreciate your help and thank you very much hey Scott thanks for joining us you got it Adam good to be here can you tell us founder. CEO of a company called Sales Kuala and we help early stage enterprise BB startups to build their sales process and ramp up their sales are enjoined this would you mind please sharing this with your colleagues or putting it on social media as much as you can so that we get the word out there and we continue to deliver ground going from zero to one million I know it's hard but it's needed to get going and get that traction feel free to reach out to us at side startup sales dot io at startups Mike how to go out and prospect them and find them it's GonNa be really interesting we also talk about hiring your first salesperson and should that first salesperson be somebody with a Rolodex sales today Oh this is what we do we help early stage companies get their first sales in the ball rolling in defining their sales process so please feel free to reach out and in the meantime space most recently with a company called blend some people listening might recognize blended actually at the time that we're recording they just raised another hundred thirty million series e basically zero revenue to the first couple of million in revenue so it's something I've done three different times at three different start ups one in the Ad Tech Space Education Technology in two in fintech financial technology got a Rolodex and what are the implications with that so it's going to be really interesting episode today and I hope you enjoy it if you're an early stage startup and you need help getting your sales audubon often a little bit about who you are on your background and and why we should listen to you sure and feel free to ask me questions if I miss anything important atom so my name's Scott Bucci on it market or a niche and even if that's just a hypothesis the addendum to that say look we're going to focus on US based credit unions for now and so I think they're just brimming on the Billion Dollar Valuation Company that sells to the the banks lenders across the United States so and you add sales to mix in psychology of everybody else all right so let's just kind of jump into it and talk about the early days of sales and you have no clue Ryan how do you get going great question the first thing you do to get going is just like first of all the first biggest mistake I see most the episode I know that you're eager to get going but I wanted to ask for your help we want to get the word out there more that this podcast exist so if you're finding value in this and you what I've done in my past today over the last couple of years where assails coaching company where we work with startups out them build and implement their selves process they look over the next couple of weeks for the next three months let's get really specific dial into that customer base and start talking to them and identifying whether or not what you are out there selling the most important you can do is view everything from the lens of what is the customer's problem and so if you're trying to sell to a lot of different most ideas fail not because of lack of opportunity but because of lack of focus paraphrasing a little bit more recently I've seen tweets from like bill see now you have your clients now how do you scale start to scale this so it also helps you there when you're when you're focused as well yeah for sure get it understanding how they view the problem that your products now when I'm working with a lot of startups they all tell me yet but we could sell to this pre startup because like I imagine the problem I think this is so crucial to the mindset when you're going out and talking to your target customers because when can take place so that's always the way to think about it I think it was David Packard Hewlett Packard. He wrote this years ago where he said around that that purchasing around solving that problem so now you've got thirty institutions times ten let's three hundred people so you can spend like sending out personalized Albay selling approach to those thirty institutions because even within those thirty organizations institutions there's probably ten or fifteen key stakeholders influencers decision surface everything else behind that is going to be totally different and so the only way to start building some expertise and building some leadership in that marketplace is to focus in so you can get re the total addressable market is in the case billions of dollars and to get to a billion dollars you have to get customer number one. I right so you take a very hill we sell to these people would you tell them what do you suggest to do when it comes to that I said great that's probably why investors are interested in you edifying thirty healthcare systems in the state of California that are best positioned to take advantage of their platform and then taking a very targeted a common example like Amazon even though it's in the consumer space like Amazon started with books and then now they've taken over the world so the same principle applies with yours that's probably almost a trillion dollar market opportunity says like okay where do you start and so with them what we did is we paired that whole opportunity down to a couple million dollars in revenue Norway and now they're coming to the US market they happen in the healthcare compliance space so just think about that for a second healthcare compliance really good and become an expert in the problem that your target customers have once you're clear on the problem and help your customers understand how that problem should be solved then that's when sale use the problem that they have and does our product fit that problem so I think that's the best place to start is just start with a target markets he can get really it's GonNa be the quickest and easiest to close as well yes it's funny you mention that because we I was just mentioning when we are prepping for this out of that was on the call with so quick wins dividing out the solution that you could provide into those four quadrants of high value versus low value high versus low friction than friction being high implementation costs high time watts of integrations and you think about low friction which is how do we slide in really quickly in order to get some wins mysteries you're trying to sell to fortune five hundred's and you're trying to sell to the mom and pop store down the street even though the fortune five hundred in the mom and pop store might have the same problem on which in his world they're similar financial institutions that deal with lending but credit unions non-bank lenders actually quite different even though they both have the same core problem messages whether it's linked in email on conferences all of the work that goes to creating conversation like the more you can focus the more you can personalize in create real solving that problem that were identified is the solution to that problem high-value solution to the organization or is it low like okay fixes like a minor nuisance. I mean some of the clients that we work with right now for example we're working with a company that's based in Norway and they've built a platform they've got some really implementations something that might be more friction by a much bigger win for your customers and so when you do this exercise not just for yourself but actually include solving and then be able to map that out what has the highest value yeah and starting you don't always have to start the highest value problem there's like when we also together a little bit here has seller say while where should I implement I and so we drew a drought like a very simple two by two Matrix so if you're listening to podcasts and in that account and then start with something that's lower friction that may not be the highest value but proves success and then it buys you some time to then go look at we're just talking about and so he's had a really substantial conversation with chief lending officer at one of these institutions and he's trying to when he was talking to that she flag officer client that's in India and Giraffe for him he's in the lending space as well and he's looking at whether or not sell to credit unions or non bank lenders actually sitting down with her and saying okay well let's map this out which of these are highest value and which of these are lowest friction and then that helps you choose how to get the quick win where he can land station as opposed to just a batch and blast approach absolutely. I think it's also really good when you're focusing down like this is to focus on Lee and Paul Graham whether said startups don't die of starvation they dive indigestion and so going out and trying to sell to everyone makes it so that you don't really understand on their property from their point of view trying to sell the everyone means you end up selling to one and it also I think will help you Mitchell dive into this later but in the growing face when you see then all of a sudden Voila you've got conversion I think that's an amazing exercise that early stage founders should be doing right from the start they first have to understand what it is what pain points could really easy interface for your borrowers to begin a mortgage to just get the basic information and then flow that data into your loan origination system would that be useful was it something that fixes like a major disturbance or obstacle or obstruction to their way that they do business so that's high versus low by on the x axis you think about on one side is she actually had four or five areas within their lending process where he could actually implement and so now it's like okay so I got to put the pieces of the mistake that most teams make is they hire too soon meaning that the ticket step back here so when I talked with our founders they usually fall into one all systems for them to handle from there and then slow you can creep into the other parts of the process can land and expand that expand kind of cool all right so let's say you've got you've done this with those lenders and that was our semi high value but the friction was relatively low because all we had to do is build the interface collect docs and then send those docs into the lenders ways all the different steps throughout the lending process and there's lots of logjams in the lending process where a lender has issues document collection documents these projects to work on and by one can we implement this thing and how do we prove success where the metrics that we're gonna be using to track whether or not this implementation was successful or not compliance checks getting approval selling that loan to an investor pricing controls like over one hundred different steps in a lending process so we didn't necessarily go in and say well this one-step is the biggest value like if you could figure out how to approve a loan in one day will that's GonNa take years to solve but if instead we said look dot collection for your consumers that we happing out they exercise that I do is say okay within those four or five different areas that he could implement his solution with this she lending officer your key stakeholder on the other side now effectively done is create a collaborative environment and you're not even selling anymore you're just like setting up a project like this project management let's just figure out three buckets People so the one kind of started founder which is kind of a bit of an outline Qatar founder that knows critical sales is they're actually pretty good at sales I started when we were at when I was a blend I mentioned at the top of their conversation like division of blend when we started it was a one click mortgage a one click residential mortgage now companies around for seven years and we're still the insurance still years away from having one click mortgage right but when we first started the first implementations we looked at all of the different paths and like the market you just see how good it is and Gush like I'm not good at sales on WanNa be good sales because my product person engineering person so if I could just find somebody replace the on the other end of the spectrum there are some founders who just feel like sales necessary evil I've built this product talking to customers they're just out there go to a conference there good speaking no inhibitions about like leading the charge leading the crusade in their market oh and to add lender they're like yeah that's one of the biggest problems that we have in whilst not the the biggest problem it was easy for US implement within months we could go up and running yet up and running get that question a lot and usually it's after a startup team has hired and fired their for salesperson and so I think the really good at sales at the beginning that's kind of a skill you have to learn but most of these founders that have seen they love going in fundraising now fundraising is society mapped it out you started collecting clients at what stage do you think is the best to start actually building a team hiring your for salesperson all man else person in the world but you sure as hell need to be able to get out there and and tell the message lead the crusade in those first couple of customers yourself so that you have the blueprint then you can hire a salesperson say this is what I built so far I need you to build on top of it and so usually when people say wind should hire the first founders ago like I know sales is really important I just don't know how to do it mellow but scared I don't WanNA screwed up I don't know where to start and so the problem is the second and the third bucket it's our where founders oftentimes higher too soon because they're looking to outsource that selling capability outsource that whole process and so the the same and you know like you just have to get it out of your mind that sales is a scary thing and just jump into it and after the first ten fifty calls salesperson it should be at the point where you as the starter founder you've reached capacity we realize I'm either spending all of my time just managing existing one that they can tolerate within their business and so they're looking for somebody who's GonNa leave them out of the dark a lot of ways that's the first conversation a giant sales pitch about your company so if you love the sale if you love the fundraising process yes it's different selling to a prospect but a lot of the fundamentals getting deals through the pipeline that I'm not doing enough service to the existing customers that have so those are places either at the very front of the use this money to build product higher sales people hire engineers do all these different things and when you're selling that's especially as a founder that's what you're doing people talk about the founder Magic I agree with you and I wanna add two things one thing is you said that the like the kind of founder that doesn't think they're good sales and while nobody's is your customer service why would you outsource sales it's a core function of your business so while start founder you don't know what it says that you have to be the best in the industry with a big rolodex could just build myself process for me that's how sales so that's the second bucket and then there's the third bucket which is in the middle which is the you'll start to get into a rhythm of it he I like that analogy a lot Adam because you can think about if I'm out there raising capital what am I trying to date while I I'm trying to find people who see touch on that because I've actually come across a few founders of Said Will WanNa find somebody that has worked in this industry knows a few clients already that could bring us on the business it's hard to draw the without that you could serve imagine on the y axis if think of that as value so at the top of the AX is high value at the by the XS levite so footprint or the blueprint or the framework of how to sell what is the message who do we sell to had we price this thing how do we implement the thing then once you've got that base see the world the way that I see the world are understand that the world needs to be better there's a problem out there that is be fixed and selling them on my vision of how we're going to solve the problem where we're going Dell's implementations that I've spent no time prospecting that's usually the time to hire someone or spending so much time on pipeline take the company and then secondly the thing doing once I get that engagement than the likely the next thing I'm doing is saying Oh could tactically this is our actually going to execute on this issue so we're gonNA to that I I try to get our clients I think about just the market generally they look like you wouldn't outsource your product you wouldn't outsource your core Kobe's outsourced raise capital from customers small increments so another thing you said was for number two was to hire a person with Rolodex it comes with selling early on and so you're finding those early customers that WanNa follow your lead they're on board with addition they see the problem that you see they know the problem is no longer so they are not used to the unstructured approach to how you run your business every day it's their job in the title it's like a two step process and so that's I think to your point it's like it's the same structure you're just instead of raising capital from investors you're essentially and it's so dangerous to do that because while you might get a couple sales and then you're going to go raise money based off those numbers and everything but then you don't I think having a going out and saying well I'm just GonNa find somebody with twenty years industry experience in healthcare or financial technology or education and have that person Oh how to repeat that and that guy's book business is now finished and then what yeah this is an important point because I mentioned the Rolodex and I agree with you ways today Scott and I are going to be speaking about how to get your first clients and more about like how to target them so which clients to target help me get early sales there's a couple of pitfalls air one that person has twenty years experience chances are they've worked at a really large company or at least a semi large company sales process on the back with your customers suggesting that you can hire first and then slowly move to the guts or the middle of that sells pipeline absolutely mutations because they have a wholesale engineering team that's helping do that so they may not while they have a lot of industry experience they may be kind of rusty or worse they haven't done and then the second part of the sale is just like okay so now we're both in agreement that you have this problem we cannot solve it here's tactically how we're going to implement the Solution Dalby L. might be like one of ten steps they're not going out and doing Lee jet they're just getting a bunch of inbound leads that the marketing team is developing for them they're not the ones doing the full end to end that you might need them to do and so we've seen this and that's oftentimes were when we talk the teams is while we hired this person that had budgeted industry experience but six months went by they didn't produce a deal and all they told us that we needed better marketing collateral we needed to update the website with better marketing collateral better website than we could clone close more deals or like. Oh we need better pitch decks none of these early customers unity get really really imbedded with them and do a lot of hard in your customer side to actually give money doing implementation and then you've got to get by in like hey like stuff is gonna break stuff isn't GonNa work you're going to have problems is gonNA be worth it so I always remember the first really large implementation we had when I was a blend was at a company called nation star nonbank lender and about this very issue and one of the things that he does recommend in select cases is that it can make sense to hire the rolodex person under the the credibility learning revenue can really propel you forward now it's not a role that you can sustain for a long period of time that'd be working good if you're going to implement that strategy would that be at the beginning phase when it's your first salesperson or after you've already got initial traction his early implementations I mean I can tell you from time might time it blend they are a bear to get rolling right so I gotta get buy in from the executive team on now that being said one of the people I interviewed on my podcast is a guy named David Chip Kelly and David is a an executive at a company called the Alexander Group and we talked flow we spent weeks testing they sure everything's ready to roll and the call center open at seven o'clock in the morning Dallas Texas I was there on site with Devon one of the engineers got this product but we haven't sold customer number one will the danger there is that personal end up pulling you in different directions that ultimately you don't WanNa go and it's not aligned and you've already started to build somewhat of a sales process and then you need to really boost your numbers yeah I think it's more on the ladder I think after the secondly as you identified atom it's that person even if they do converts deals you might not have complete visibility as to how they convert those deals profile if we could just get access more access to those people than we could get some of those deals across the finish line so yeah I think like hiring that person out of the gate saying okay tackling also I think if you're more of a technical product and you're not ready to onboard a client like that you could actually burn those bridges as so it's better to with the implementation it takes a certain type of buyer type that you're going after to have the patience to know that the long term benefit of working with us understanding that this is really a short term hired gun and their job is to simply create revenue so he called him a market maker and so the with the long-term vision the company because then you end up maybe going the direction of getting short term revenue but that doesn't align with really where you want the company to go at least have some identification of this is our target market this is the type of problem that we're going after these are the kinds of buyers that we know fit our ideal so we need to win the championship you sort of hiring your by almost like buying revenue will you hire this person so but again you have to be careful to make sure that person understands the environment in which the we'd we rolled out this pilot we had about eight I think eight users in a call center they're using our workforce software and we spend weeks building out the make your make your own contacts before you implement that route to make sure your product is is suitable and sustainable with some clients you got a product that works if you can get this person to come in and make a really quick impact and get you three or four or five big logos than the short-term boost the idea that we're going to have somebody come in for this role for a year you're probably going to overpay that person but if you've got general structure around your sales process you've gotTA target market but it has a function it's like hiring the free trading the player you know just before playoff run or are signing free agent so that this is the last piece of the and we went live at seven o'clock when we found the first bog seven oh one yeah you know what he found the second bug uh no idea takes us three months we've find something wrong with our other vendors it takes three months to get one thing fixed you guys all other stuff is a little bit bigger by the end of the day we found and fixed twenty four dogs the first day and Devon is like like almost like pouring with sweat the value of working with what we're GonNa do and he understood going in there might be some hiccups here I think that's that's something that so many early stages stuff didn't have a chance to eat lunch nothing all day from seven in the morning until seven at night when the call center was closing fixing bugs end of the day comes and vp where the shroud of everything's GonNa be great you know a lot of times here this from founders like well I don't WanNA show weakness no actually that's the best thing you can do is not weakness hyping amount of evernote so I can copy and paste later and I'm just showing them the Devon and he's there on site he's wired up and he's fixing these folks on the fly just pushing pushing pushing code some stuff is really small twenty four in a day we've never seen anything like this before and like we walked out of that office dislike obviously and like okay we're GonNa go live because at seven o'clock the phone starts ran like that's just the way the call center works and the rest of the they're gonNA take calls or make calls have that pipeline discussion on the early days as well it also shows them where you're heading as a company and they're also really excited for what's to come we expect we're going to discover new things that we need to add to the platform change integrations we need to do and that's just part of the process and so one of the things we always recommend platform and as we start mapping out what is it going to take for them to roll out their software with the students at these different law schools realized with with our clients is especially those early customers when you're making that sale don't just sell the product sell the implementation sell the whole package we. I had this with a client earlier this week on Monday we did a big strategy session with them and they're selling to law schools they have a test a bar exam test prep ups are afraid of to have that conversation say look there might be some problems with this but here's our guarantee we're going to be here we're going to be as opposed to just selling a product and so when you're selling your product don't just sell the product sell the whole implementation sell the whole vision and insert identify areas where they have some weakness actually gonna come in and help them do some remedial additional work so it's almost like technology lead consulting 'cause they will no matter how much work you've done already it gives them they'll breathe more because the like okay. I know I'm in good hands but also on top of that I think if you or like really he said I understand you guys had some trouble with the platform today the yeah found a few things he said you not long it takes us to get a bug fix by any other vendor he just imagining engineer in the cubicle pounding away on his keyword I'm running around from Brett to wrap taking pictures with my phone of by the screen doesn't look the way it's supposed to look or log on I'm from the university right just like oh another email from the university exactly so we dove into this piece by piece step by step day by day week by week and what realizes available and we're GONNA be talking to you about it you know in the setting the picture like that up and having a conversation in the early days will make that first of all when the bugs will arise that when you say you want to work at a startup that you know what we're talking about here at oh by the way the hotel you're staying at the Marriott if you're lucky it's a town place suites with you just being honest saying hey we're going to install this thing and we're gonNA test it and we're GonNa make sure it all works and we're going to go through it a hundred times inevitably something is not going to work yeah and so and I found this evident file where I was I was logging bugs so quickly I didn't even have time to put him in a was literally like yourself as part of that implementation so that example I shared from when I was at blend like we just natural toss like we're going to go live and we're going to be on site their initial thought was like well we'll send the fifty loggins to the school and have them distributed to the students so what do you think's GonNa happen there will probably nothing because none of the students are ever going to read the emails the first implementations like you get to use the product but it also means we're going to go on site and do training we're going to half day workshop after the student start using the platform in million books so the one book for me as I was first learning to sell twenty almost twenty five years ago coming out of it ah when you go live in case something goes wrong because if we were sitting back in our office in San Francisco in seven o'clock hits and the bug hits at seven that means you're going to be awake at two o'clock in the morning in your hotel room to testing stuff from Dallas because the engineer is back in San Francisco are awake at midnight pushing code causes over he's like can I talk to you guys and we're looking at all this is bad and he goes listen I cannot tell you how impressed I am. Opportunities pipeline deals in how they structure and he broke out the stages of the sale and identify a very clear step by step processes follow up with a couple of more questions here what is your favorite sales or leadership book favorite sales leadership book. Well I've got an unbiased in a bias and I was just vining books reading a book a week on sales and the one book that made the biggest impact for me as book by a Neil Rackham and major account sales strategy the very data driven book so he went through and looked at thousands of enterprise sales is correlated with a book that includes a worksheet exercise in a video on how to use that worksheet related to that specific chapter so it's not just another sales book because at seven o'clock in the morning you're going live that's what you're signing up for just make sure we're clear on this it's not just because you've got some contact absolutely I think that's also something we need to save for another discussion but that's also something you need look for in a in your first salespeople as well as people that take ownership like that the rubber and really bad coffee absolutely all right well I think we're running on time so let's he's fellow cloud nine because what we did is we brought that Silicon Valley Mindset to this call center in Dallas Texas but it was because we have the right partner we had the right early customer who understood got some big bank or some big health system or some big pharmaceutical company like this is what we mean by startup selling so let's just make sure sociable called Stop Hustling Start Scaling and it's a book that took me about three and a half years to write a I'm really proud of it not because I wrote it but because the it almost every enterprise sales followed through at that structured approach I found over the twenty almost twenty years selling has been almost get that care and aren't just looking for okay close the deal thank you goodbye well and that's the ROLODEX probably could run into with the wrong rolodex person might be thinking that's one one book that's the unbiased perspective. I take now the bias one I would say is my own book I just I just one we wouldn't have known how it user report a bug but because I'm sitting there Antonia raises his hand he's like it's not working I can walk over to the desk and say all right man Chris started a company called better works and other companies he was also an advisor at Jalan Tier and he was the first one of the early sales leaders at Webex procedural structural approach to sales as well so he's a guy that I would definitely check out Kris documents is one person second person is woman Trish for Tuesay Sushi mm-hmm and they're gonNA have more patients yeah I think that's the key is is just really show them like be like Oh this is how it's GonNa go I think instead of trying to now opened his own company where he helps companies with sales development work I've had in common speak to migrate my client group and he's just very the company called the Bridge Group A big Fan of the work that she's done she's she wrote a book about sales engagement and for sales development sales development reps and then two more people really what's not working take a picture with phone punching him evernote give it to Devon and then he fixes it none of that stuff happens include yourself in that implementation is a different question that you need to answer for your sales process in forever sales opportunity at the end of every chapter is actually link to a web page sales are trying to get to a million dollars and beyond annual recurring revenue it's got a seven question framework that you can use it I call the cue framework and every single chapter who do you follow for sales or leadership advice man great question couple of people that come to mind top of mind for me one is a guy named Chris Duggan so in it is very very practical it walks people through it's designed for startup founders that are really trying to ramp up there and help them grow to their first hundred million dollars in revenue and so Chris guys gotten to know over the years he was all sorted advisor at blend the founders from blend word talents here so they knew him so I had a chance to spend some time with him as we were building out ourselves strategy blend and beyond so he just has a very calm and very passionate about what he does and he's just like it's like a very no bullshit approach so I really admire that none of these people are like the you know slick back here electing and a big fan of her process for building out ideal customer profiles getting really clear how you're gonNA prospect and engage with her up you build your sales process so it's stop hustling start scaling is it on Amazon Amazon okay I'll put a link in the show notes as well co people can just pick it have when it comes to startups in sales is make time for sales every day sales has to be a priority it's not something you get to at the end of the week I'm a big fan of is Aaron Ross and Mary Tyler so they were co authors of a book a lot of people probably heard a predictable revenue Aaron has since on like here's a sales process actually teach you how to build your sales process it's Kinda like a book yeah well you don't write in it but there's a whole attack general or when it comes to sales in sales in sales leadership it might not have to be sales directly but so I think the one piece of advice assessment set of work that you do have your wholesales team sales team do it so maybe it just comes from either textbook publishing days where I had this desire to like make sure people actually implement to build products got lots of happening every day as as company founder nothing else happens in your company and nothing else will happen in your company unless you are selling your stuff and so even if that's an hour a day that you're spending on Lincoln making new connections or it's it's an hour in the afternoon making some calls or state exactly the same regardless of with a big company or small company where I've been at Decker Fintech too that's the one book like if you understand enterprise sales in how it's different than anything else if we don't get this customer it doesn't matter if we don't implement well with this customer it doesn't matter and so I saw that firsthand and it really was a pervasive attitude think they're learning so that's the way I structured this book and that's why I'm private because it is so it's a very tactical focus on just like oh you should do this or that it's like we're GonNa have college I my first job was selling college textbooks that worked for a company called Prentice Hall which is eventually bought by Pearson some people might recognize Pierce integration so out of college cut my teeth the role experts at all I've always worked at a startup I'm so excited and I'm GonNa get to work role by sleep cut person like really are you sure because you know what that means I've seen that in action and I I couldn't agree more they companies that have that mindset in have that that way of in the conference booth and talking to people as it can buy you have an opportunity to show the rest your company that sales is the most important thing in the company occur at the end of the month or the end of the quarter after you raise money sales is a now thing and understanding that you've got a lot of competing interests you have to fundraise you have to manage teams in business where clients are number one in you and you have to get that sale they are the ones that grow quicker grow higher than the ones that aren't doing it across the whole organization where I had engineers coming up to me and asking me about sales asking me how they could help asking me if there's anything else they could do to contribute whether it was like sitting there yeah I think he will fundamentally shift the way your whole company perceives sales and it's going to help your company grow out of all the companies I've been part of it's not a byproduct of engineering thing we get to if we have time sales is the thing and I saw this a lot when I was at blend Nima Gun bye for now thanks for listening to start up sales with atoms springer subscribe to the sure she wrote a book recently called predictable prospecting so those are just four people that that come to mind for me what one piece of advice you have for all the founders that are listening in Alabama was going on or if there's anything else that we needed in order to make sure that that deal close so he can show that leadership that sales is a priority it's just as important as everything else that he is the CEO there he was the first person to get on an airplane and fly across the country for meetings he was the first person to sit down and say guys I don't even care what's going on with the platform yeah nothing happens until you say all so cool Scott I really appreciate you coming with us today sharing all this how could people reach out to you if they want to learn cast so you never miss an episode contact at him about speaking engagements or consulting services at Adam at stirred up sales dot I o.. And work to figure out what this whole system should be what is that selling system in so that's one pitfall by higher in when you're hiring industry somebody with the rolodex about what you're doing and things like that I think the best place to go is our company Website which is Sales Kuala Q. U. A. L. I A. dot com sales. There's that we've done trainings that we do links to workshops links to books you've got a copy of another book of written that you can get a free copy of just download the pdf so it's kind of like the hub of all one click pat to get to see that herbal Scott thank you very much for joining us dude so fun to be here I could do this all day so let me know if we do it against perfect all the stuff that we do so if you're at a sales KUALA DOT COM head over there that's probably the best place to go cool and you can also check for listeners I'll put that in the show notes so you could check out there and Eric Image that you have sales people are very cerebral about it and then Mary Tyler who I mentioned a CO author pretty radical she also wrote about comfortable Paalea Q. U. A. L.. I if you had there there's we got blog post tons of articles there the podcast of our of our own start up selling we've got recorded webinars.
CRE News Hour 8/16/2019
"From the business desk at st broadcast news this is the c. arena news hour. I'm steve lubeck. It's friday august sixteenth two thousand nineteen on this week's edition of the sierra news hour. We'll have part part. One of a two part conversation with attorney. Brad mowatt ski a leading expert on the federal opportunities zones program. We'll have a conversation with mark rose the the chief executive officer of global real estate firm avis young which is expanding dramatically in twenty countries around the globe and a look at how investors investor's bank a regional bank in new jersey is growing. It's commercial real estate lending portfolio as a balance sheet lender. We'll talk to their chief lending officer rich spangler. You're we'll be back with the top news stories right after these messages turn earn your podcasting passion into profits the book the business of podcasting describes the business side of podcasting including how to become a professional national podcast. You'll learn about position your clients expertise who podcasting to plus the best business models how to find clients and much more visit the the business of podcasting dot com today. You can't wait for the media to cover your company buzney. You have to be the media. Take advantage of the power of audio and video. It's the best way to showcase your expertise to prospective customers. Let the lupatkin you bet can media companies handled the technical side. We're award winning audio and video producers. We can help you produce podcasts and video programs remotely or in our fully fully equipped studio in cherry hill visit being the media dot com for more information. Thanks for joining us on the c. r. e. news hour. We just like to make note of a new option on the show page for this episode. You can click on the purple. Take the survey button right below the podcast player and share some information that will help us get to know our audience better. We'd also appreciate your considering financial support for the sierra. News hour by visiting our are patrick link and becoming a show supporter now. Let's take a look at some of the stories that are moving sierra markets across the country fannie. Mae economists say a stronger than expected acted. First half of the year pushed its forecast for full year. Twenty nineteen headline growth up slightly to two point two percent. That's despite the escalating trade conflict end the associated risks of financial market volatility labor market weakness and loss of consumer resiliency fannie maes economist groups also updated its domestic monetary policy expectations and it's calling for two more quarter point interest rate cuts by the federal reserve in two thousand nineteen one in september and another in december consumer spending continues to be the primary driver of growth increasing in the second quarter at its strongest pace since the end of two thousand seventeen while a surgeon government nondefense spending nick mainly due to the resumption of uninterrupted employee compensation following the government shutdown also contributed to strong growth in the first half by contrast. I residential fixed investment dragged in the sixth consecutive quarter while business investment turn negative in the face of increasing trade and geopolitical uncertainty rent cafe. They says average rents in and around philadelphia have seen minimal changes compared to june and in some cases the rents decreased slightly. The pace is consistent with the national trend as the u._s. Average rent grew by three dollars compared to the previous month and now reached fourteen hundred sixty nine dollars in philadelphia average apartment rents reached sixteen hundred twenty four dollars. It was in july. That's a two dollar increase compared to last month. The highest rents in the area are in king of prussia where the average is sixteen sixty nine lower by two dollars compared to june c._b._r._e. Arranged twenty million dollars sale of the bergen medical center in paramus new jersey the buyers a private investor and acquired the seventy five thousand square foot medical office property from the eye institute of new jersey built in nineteen eighty eight bergen medical center is on approximately five acres was in one of the county's healthcare arteries of route seventeen the properties near valley medical center bergen regional medical center and hackensack university medical center c._b._r._e. Sorry also arranged for fashion file and online fashion resale website where consumers can buy and sell used women's luxury designer handbags and jewelry. They're gonna lisa hundred five thousand square feet in munochiveyi new jersey ever west real estate investors redeveloping the building which firm purchasing august two thousand seventeen accounting accounting firm eisneramper signed a fifteen year lease four hundred twenty five thousand square feet on the sixth through ninth and tenth floors of seven hundred thirty three third avenue in new york city also included in the deal is eleven hundred square feet on the building's ground floor for a private entrance area lobby and hospitality area for eisner employees in their guests and a twenty one hundred square-foot outdoor terrace on the seventh floor seven thirty three third avenues owned by the durst organization is on the southeast corner of third avenue and east forty sixth street. It's leed gold certified eleven buildings that comprise what is known as the post office and warehouse district at the decommissioned fort monmouth new jersey are under contract for purchase for redevelopment port partners a company owned by denholm properties scoring to replace the existing buildings with three class. A office buildings wchs for a total of eighty six thousand square feet. They'll be targeting medical biotech and technology companies. Everest rehabilitation hospitals is putting up a sixth sixth physical rehab hospital in the liberty township section near north cincinnati ohio everest modern comprehensive medical rehabilitation hospital will be constructed on a little over five acres just north of cincinnati the sites located at the northeast corner of interstate seventy five and bethany road in liberty township and some executive -secutive moves of note. C._b._r._e.'s appointed john pool is to head its healthcare practice delivering clients solutions in the areas of compliance facilities management project management advisory and transaction and consulting services to healthcare systems throughout the country c._b._r._e. Healthcare's dedicated business group within the company focused exclusively exclusively on partnering with healthcare providers to deliver total life cycle real estate facility and capital solutions based in cleveland polos. I join c._b._r._e. Ory in nineteen ninety seven cushman and wakefield veteran thomas collinses joining iverson young as a principal and he'll be managing director of the company's new england england region. He'll manage day to day. Operations davison young's boston and hartford office. He most recently operated collins strategies a consulting firm providing coaching thing in mentoring services for real estate companies and professionals and ratliff companies a hard scape construction and real estate development company near dallas has named brian robertson and his chief executive officer robertson steps into the ceo role after leading the company as president since twenty eight and acquiring the company in twenty twelve ratliff offers general construction concrete and masonry services for all civil and hard scape projects including single family multifamily commercial municipal and oil and i guess you're listening to the c._r._m. News hour. I'm steve labatt. Can't the federal opportunities zone program is being being implemented differently in almost every state some states offer additional incentives or creative ways for developers to partner with state and municipal governments mints to take advantage of the federal o._c. Tax credits on projects that also serve the public good one of the leading experts on the opportunities own program is bred melotsky's breads co head of the opportunities zones practice group at the philadelphia based law firm of twain morris breads primary practice is focused in the areas of opportunities own fund creation and fund deployment financing public private partnership which you sometimes here called p p p or p three real real estate joint ventures and commercial leasing including a focus in cannabis leasing and we'll have to have him back on the program to discuss cannabis in greater detail at a later date before joining duane morris bread was on the big development company side of things he spent two decades as executive vice president general counsel and corporate secretary of brandy wine realty trust where sure he oversaw the real estate investment trusts legal operations acquisitions and divestitures financing joint ventures board matters insurance procurement litigation oversight oversight s._e._c. filings and the legal aspects of capital raising brad's office just about ten minutes from our studios so he dropped into state broadcast news to talk about opportunity zones brad. Thanks for joining us on the program pleasure so you are heavily into monitoring the opportunities zone on programs around the country and there've been a couple of changes recently that you are updating your clients and prospects on talk a little bit about the f._h._a. Vijay program for financing. I so there's a recent <hes> f._h._a. Announcement last week whereby they took more of their programs section two oh two program i am which is a loan program for certain types of housing in certain particular locations and they essentially attached to the opportunity zone saying that if you who did an ots z deal with a two oh two loan they were providing additional incentives <hes> which is a nice way of underlining underlining reiterating that the opportunity zone program is a stackable benefits program meaning. It's not us one benefit or another it layers nicely on on top of or alongside of any number of other tax credit and door other loan programs in the federal government so historic tax credits film own credits new markets credits all work with or can work with opportunities zone equity and so would would the f._h._a. Was saying in this instance hood kind of expanded. Its programming to say hey if into the extent you are doing an opportunity zone deal all in one of our you know kind of locations that qualify for this program other two zero two. We're going to sort of put you to the top of the line topline frontline and so that's a for a developer kind of the ability to not have to wait to know whether you're in her out is a benefit at time is it's kind of a bit of a killer in some of these instances so it's nice to see the federal government looking to align programming with the opportunity zone program which will provide additional incentive two and or push for folks to utilize the program as you mentioned the stackable nature of the opportunity sounded a lot of the other folks. We've had on the the program. Talking about ozzy's have made the point that you structure the investment to be a good investment. I and then the opportunity zone is is sort of like the icing on the cake or the gravy icing on the cake exactly and i think that's spot on the the real estate transaction. If you're going down that path you could go down the business path but the real estate transaction needs to make sense on its own. You know the tax benefit does not make it make sense so if the real estate deal pencils and it's a good deal this provides additional additional kind of sizzle to that transaction. It's already a good transaction so one of the things you've done you you share with your <hes> network of interested parties a long list of all the different changes in features on a state by state basis. What some of the interesting things that are happening on the state level level. Yes i'll never shrivenham. That's up steve but i do pass along and <hes> occasionally get some feedback that people appreciate it and the it's it's hard to tell it's almost like when you go into a room and you're meeting people most real estate folks. Many business people have heard about the opportunities program with some have have delved into it some of read an article some kind of listened and the stuff. It's not that hard. There's only like three basic benefits and three basic rules but but then there's a lot of nuance below the surface and so i'm never sure whether the person we're talking to is kind of a one oh one learner of two zero one three one and so it's the ability to share information nation of bill can digest at their leisure and so the thing you're alluding to that i passed out was from a piece from nova graddick addict which is again an online resource they provide accounting services. They do webinars and seminars and stuff and they tend to have a very good warehouse house of information. That's available in different formats and so one of their authors had put forth a discussion about the different states in china unaware. They're at so some states. <hes> are very much out of the curve. South carolina has its own <hes> o._c. Person that's in charge of their program program and that person is out and about and talking to communities and thinking about kind of what should go on and should we can we use for instance opportunity zone money money to create interest in building schools in areas where we can't afford to do and so he's thinking about macro-level building thirty schools well. Let's say couple hundred million dollars so can he attract equity capital at a decent rate relative to utilizing <hes> opportunities on capital gains put them into a fund or have somebody put them into a fund used the that fund to finance these buildings that the school districts can't afford that's what's fascinating and so kind of marrying p. three public private partnerships with opportunities on equity to show kind of a return have that lease payment backed up by either a state agency or county agency of school and execute on infrastructure is kind of fascinating so the different states are taking different approaches some of them <hes> big picture so the federal program is a federal program and essentially when you sell will there are certain ramifications from the sale of its after ten years. It's federally capital gains tax free on the appreciated value at this point as of two three ago. There were thirty eight states that had followed federal form in english. They said hey if you come to our state and you build or deadly reuse or create a business or real estate in in our state we too so long as you follow the federal rules we too will wave off on our state. Capital gains so thirty eight states states out of fifty have done that and that's meaningful in certain states like for instance new york. That's like eleven point two percent additional benefit in new jersey. It's like eight point six four percent so so in addition to the federal non-payment after ten years on the sale. These states have also said hey. If you do it here we too and so how no one uses that either straight up or you start to attack benefits along with that so some states are looking at. How do we incent rural development of you do that. We're gonna give you a state benefit. How do you focus on <hes> larger cities in some states so if you do it in a city. You're going to get certain benefits. Others <music> are like ohio early on came out with a job credit so if you created jobs you're going to get additional benefits under the day so the osy doesn't require wire federally you to create jobs in ohio. They were trying to incent the jobs until he said if you create jobs in our opportunities zone we will give certain additional things and so the states acer kinda taking different tax different approaches based on what they're looking to incent behavior wise in order to attract that kind of capital and get that type of adaptive reuse others are taking a look end saying hey we have a bunch of vacant buildings and so we want you to focus on building. Let me do an adaptive reuse of vacant building. We'll give you an added state state tax benefit so again there are these thirty eight states and there's a variety of states alabama california connecticut kentucky louisiana maryland the rasco with home a rhode island texas that are kind of doing different things to create energy and interest in the development unique to come to their their state and to invest capital in their state in either create a business or build a building or definitely reusability now. Isn't there a bit of a rush for people to who do their projects or the projects on at least in the pipeline because there's a time constraint. A lot of people are under the misperception that the program ends after this year that is not true not what the rush to judgment is. This year is the benefits. One of the benefits of the three benefits are deferral pay-later reduction. If you're in the program for five years you get to reduce by ten percent seven years he gets reduced by fifteen percent and then if you stay in the program for ten years appreciated value and you sell before twenty forty seven twelve thirty one twenty four seven that sales price on the <unk> value is not federally tax so to go back back to your question when we say five years in the program seven years in the program the deferral in the program is till twenty twenty six and so if you count backwards backwards seven years from twenty twenty six that puts us squarely into two thousand nineteen which is this year and so if one has capital gains and one puts those capital gains into a fund qualify opportunity fund by twelve thirty one of this year so twelve thirty one nineteen those dollars are eligible for a fifteen percent reduction because they have seven years until the end of twenty twenty six if you miss this year and you happen to do that on january second of twenty twenty twenty the sky does not fall however you're not eligible for the fifteen percent reduction. You're eligible for deferral. I benefit till twenty twenty six. You're also eligible bowl for a ten percent reduction because there's enough time five years to get to twenty twenty six and so if you did it in two thousand nineteen you'd be able to fifteen percent if you didn't in twenty twenty or twenty twenty one. You're eligible for ten percent reduction if you don't do it in either of those two years the skies involved <hes> again. You're just not eligible for as much deferral and you don't get any reduction but you're still eligible for if you stay in the zone for ten years and thereafter sell before the end of twenty forty seven you still get the benefit of the sales price appreciation <hes> not being sub federal capital-gains. Is that one of the most difficult things for people to understand about the program or what are the questions you get from people asking about the nuances of it so the questions are there is not one question <hes> i'm on the phone to three or four times a day with different people that look and want to engage in the conversation of what we're doing what we're talking about now and so they some of them are beginners. Some of them are intermediates and some of them are extremely events and so depending on where you're out on the space time continuum there or the continuing their questions are all different so some people wanna talk about businesses in what can what kind of business and when could i incorporate in. What state should i be incorporated other. People wanna talk about while. I want to build real estate and i own the property already. So how do i do that so that's a whole different set of related party rules. Are you willing to sell and then reinvest in the property. Still others wanna understand about refinancing or they have land or they won't have vacant buildings or what's this original use thing and so those the questions run the gamut so yesterday's question was i you know i want to build a distillery. Can i do that. Well one of the sin kanye <unk> question so one of the sin businesses. You can't sell liquor so there's like six in businesses or seven so it's no golf course no gambling no sell liquor nova sasha parlor no tanning salon <hes> a no horse racing those the sin businesses come from uh-huh and have their underpinning in the new markets tax credits world which is like ten fifteen years so somebody says well. I want to create a distillery so i said okay okay. Let's talk about that. Are you talking about the business or you're talking about the real estate either or both okay. Let's talk about the business so your business is going to be buying product walked putting it into a tank for all intents and purposes and creating something spirit or beer widower yes okay. You're going to sell it to a third party. Yes if we're gonna sell it to stores to sell okay so far so good. There's no you're not selling liquor for consumption by an individual that's kind of where they don't want the difference between a bar car and a manufacturing. Yes at a little bit but it's not clear and so it's kind of like well. Distribution versus sailed individual for drinking game. Okay well then fine. You're signed to a third party. Let's then slice the on your little thinner. What about if you're selling <unk>. Tasting room was a free or are. Are you giving away <unk> giving away or selling. Will i don't know okay. Let's assume you're selling well. Is that the sale of liquor that is what's prohibited it. What if that sale of liquor was a thousand dollars of value versus the sale of the product which is a million dollars. She had like you know point. Oh one percent of your value. Oh you was in the sale of liquor would that be enough and the i._r._s. Is unclear on this point. What if you sold food and liquor was an incidental part of it so to your point what it's a what's the difference between a restaurant and bar or bar and liquor packaging story in new jersey now with the microbreweries have people going for tastings hastings in there are specific rules about how many times a year they can do events right what you can give <unk> right right and so part of that has nothing to do with this but but there's a whole kind of lure around liquor distillery and brewery and kind of food and beverage intersection so different concerns are lobbying interested as to one being the other and if you're in the business of stealing you're not supposed to be in the business of selling food and so the bars were kind of taking a position there so that all blaze into this question of this person wants to spend a bunch of money create the distillery essentially sell product with party but you know as nance larry side business they would have a tasting to bring people in to learn about the thing and so i said look at that should work but it's not totally clear and again if that tasting and that on site consumption action and walkout business all the sun became material that becomes more problematic because then starts to look more like a liquor store which is bad versus knocks the story. That'd be fine. Take the same point for casino so gambling not okay so talk to a bunch of casinos. Couple of casinos are bunch couple of casinos. About what have you paid attention to this and the answer no not really because we're a sin business well. That's true but what if think about <hes> pick your favorite casino if you walk casinos not just gambling. There's a hotel piece. There's a recreational piece. There's pool. There's parking and it's a hotel and then then there's the gambling floor so if one was able to legally separate those pieces why wouldn't the opportunities zone investment applied to the pieces that were non gambling and the answer is they they will and so if you created legal separation through like a condominium structure and you put the gambling floor in one condominium unit and you put the other pieces in another unit or five those units that were non-gambling would be eligible for opportunities investment or would you have like casino parking deck l._l. Sake floor l._l._c. put to the side that would not be eligible for the dollar investments or four kind of the benefits but if you got capital investment in the other pieces would be eligible. Bread milososki is co head of the opportunity zones practice. The philadelphia based law firm of duane morris brad. We'll be back with the second part of this conversation about opportunity zones in next week's sierra news hour. We'll have a link to his contact information in in the show notes for this episode. You're listening to the c._r._a. News hour from st state broadcast news dot com toronto-based avis in young has been consistently named one of canada's best managed companies for the past eight years in a row and in two thousand eighteen. The firm achieved platinum status in the survey conducted by accounting firm deloitte. The company's experienced rapid growth over the past decade particularly in recent recent years. Mark rose chief executive officer of avis in young is joining us to talk about the company's culture growth strategy and his outlook for the sierra theory markets worldwide in eleven years with toronto based firm marks overseen growth from two hundred ninety real estate professionals in just eleven evan offices in canada to about five thousand professionals in one hundred twenty offices in twenty countries mark. Thanks for joining us on the sierra news hour my pleasure. Thanks for inviting me so tell us a little bit about what's going on with ableson young. You have been expanding rather dramatically over the past year or so <hes> what what is your approach and how do you think things are changing in the commercial real estate industry. You know in terms of what we're doing. It really has to do with an environment. That's changing a an industry. That's changing and not having the legacy platform <hes> to have to deal with. We have a ten year old company. <hes> that that it systems are all cloud based and people were brought on with the understanding that in a changing environment that we want to settle on a couple of core beliefs and this core beliefs are around culture honesty and integrity can't just be words they are the driving force of what what we do but what goes along with that is a collaboration and communication engaging diverse opinions carrying about inclusion rather than excluding opinion and so when you build a company of that sort it takes on a very different structure and and a very different set of rules for example. We have the n. a. r. which with no smirk intended. It's the no asshole rule and it's been a part of our thesis from the very beginning that service companies are here to service their clients and we cannot afford to have a a difficult personalities or individuals. I think about themselves before they think about their clients or the people who work with them and so <unk> indirect answer to your question because where we've seen so much change in the industry and how we serve as clients and because there is much much more coming rapid change it's being driven by maturity of the industry the changing of the guard in terms of owners real estate and folks that service them and obviously when artificial intelligence and certain technologies actually work israel things that that will change how we do business and you have to have the organization. That's prepared for it so for for us. Avis neon young growth is been quite methodical. You know the strategy was written and finished from two thousand seven two thousand eight eight two thousand eight. We took a document and we launched accompany. The davis company was the company that we started with but it was actually not a document i and what the document was was. Let's headquarter company outside the u._s. Because we want to demonstrate global nothing to do with you know any issues with the u._s. Just the competitive set are headquartered there and let's build something that that will hold a world series and actually invite the world and then we're going to do it with a private partnership and we're we're gonna structure the company that clients come first and i say this not because our competitors bad actually you know. They're quite good but the structures of these companies. If you're a public company you are beholden to public shareholders and you have a fiduciary legal responsibility to drive and solve the the needs of only one stakeholder and that is the public chapels and therefore you have to structure the company accordingly and it's only off the backs of top talent and good management teams that you expand past structure to deliver services. I will the davison young. We are not beholden to the hub shareholder. We are completely beholden to the clients and to the partners and the people who work here and so we have methodically gone out over the last ten years and rounded up individuals. I i in a canada then in the u._s. than in the u._k. Germany now expanding into to places like italy and ireland and spain and hong kong and moscow and austria came as part of the g._o._p. Worldwide network and so this eleven company. She's me eleven office canadian company <music> with two hundred ninety. Three people in forty million in revenue are now is now in one hundred twenty offices in twenty countries around the world old with five thousand people at over a billion dollars of revenue and there's much much more to go. I it's an incredible story of rapid rapid growth and i wonder as you've been on that journey how the company deals with that kind of growth on on such a short time frame. It's you know it's a couple of orders of magnitude bigger than it was when you started that eleven year journey yet it's one of the two thousand five times that size right now which is is pretty well. We're proud of it but everything is based on culture so for example. We just effectively acquired a company company in washington d._c. Called the ezra company and we worked it out that we took nine of the fifty employees -ployees and we didn't take the other forty one just because they didn't fit it end. It's not that they're bad people. They just didn't fit with what we were trying to do. And when you focus in on the human element and the type of people who you want around the table we saw the brand elevating top talent being vested in nine and we had no issues with saying the other forty one should probably go and do other things and that's not the first time that we've done this. We handpicked the individuals who who come in and at the moment i'm i'm looking between individuals teams and and companies who are engaged h with us right now we are actively reviewing over two billion dollars of run revenue of people who would like to join davis yeah that says an addition to what we have. That's enormous. I mean how do you. How do you ensure that. Everything remains consistent. It must take a long time to you. Integrate those those properties when people come aboard had. How do you keep that straight. You know perfect example the acquisition of g._p._a. T._v. a on february first of this year almost double the size of the company. So what did we do. I moved moved to london. I'm i'm here with the team and other parts of the management executive been here to make sure your that we are properly integrating the organization and making sure because it's never perfect but making sure that the needs of everyone from one culture altered to another culture are put together as best as we can and so you take you you just take the time and and and you focus in on how do we build the best company with this umbrella belief system of getting people to work together and collaborating and communicating indicating fully understanding that as you go country to country there are different subcultures so put the swat teams on from the strategy teams to the new teams to the specific merger integration teams we opened up a project management office and all of this work doc is being done humans talking to other humans and making very tough decisions when we need to you know to grow the organization administration and it's going really well and you'll continue to see this back in the early days if we opened up a city in the u._s. Partners from from canada and initial u._s. offices would come and integrate the team and then it's more more offices opened in the u._s. More u._s. offices offices were able to integrate teams and now with international expansion senior leadership integrates the you know the acquisitions. You can't just hold these pieces together and expect them to work. You need to make sure that you're talking to the individuals and and getting the belief system down after that everything works. Do you spend a an enormous amount of your time on the road. You said you you move to london to to help with with that integration to you when you're not you know sitting in the office four and integration of new member company company or partnership. Are you traveling. A lot will let you say this before the the acquisition earlier this year last year. I flew every other day so you see a lot of airports is an awful lot of airports but you know what what this business our clients a demand and quite frankly did they deserve being across the table and our people equally it should be with the leadership team not just hear them on the telephone and the first thing i do you know when i walk into any office i will walk around to every desk and say hi to every single person because people are not fungible you know and they're an integral part of the organization and want to make sure everybody understands that they are respected and they add to the performance of the organization. So what are the changes. You've seen in this eleven year journey <hes> in terms of what customers clients expect from john young and what you feel you. We need to deliver to be a distinctive and unique in the marketplace. You know what i think. How hauer executing is the difference. The change i think as an industry issue the change is clients value value over commodity and and it's you know it's an awkward thing to say what we do for a living is not going to vote but you're clearly take the commodity nature of what we do whether that is processing a transaction project management property management where there's a commodity modesty process at the core of what we're doing financing that's fine but it's going to be viewed in paid at that level what clients are looking for and what they're happy to pay for. This is always the case with any service vertical is value and so any company who isn't changing how they go about their business and focusing on the value added service delivery to the client they are missing now or they're doing that at their own peril and we're starting to see things that quite frankly are worrying me a little bit that we're using technology legit a crutch and quite frankly the technology that exists in our space in many other spaces especially. If you hear artificial intelligence virtual reality it's coming. It's going to be awesome doesn't really work today and and i think that we're throwing some things whether it's holograms whether we're talking about big data it is important summits here but some of its take three four five more years to work and all in all what innocent young is focused on is what we can deliver really well to the client and keep investing in the things is that we need that will work in the future. Have you found some cases where there was a technology solution quote unquote to some problem when you were trying to deal with for a client but your gut told you that there was a face to face need that was more important than just using the technology which might have been easier. Let me just approach that question just a tweak different. I believe that human beings using grape technology to either automate or mechanize process is what delivers value to clients and kind of the age old conversation <unk> service verticals clearly for the real estate industry our c._r._m. System so client relationship management the technology is where or the power is. It's the behavior in the usage of the technology while it's no different <unk> as to how servicing clients right now and the human beings the top talent the value added provider who employs technology to deliver service solution that that is valuable that is what clients are looking for today and unfortunately there are some pieces of technology that have come out and they're already four or five <hes> <hes> layers back in terms of their ability the to really deliver <hes> an and clients and door signed up to something that is already a product or a piece of technology. That's you know that's much better and so that there is a you know a natural tension attention at the moment in terms of what's going to be here today. Which is the best in class and what's coming and what's coming. I think is awesome but you just have to wait a few more years for it because it's not quite here yet artificial intelligence you know if you talk to to medical providers. They know it's the future. They know that they're going to be able to diagnose. Maybe even had surgery implemented through the use of artificial intelligence problem is you can't use it. If it doesn't work. You're dealing with a person's life a little different friend. We're not dealing with anybody's life but we're dealing with people's a financial being. There are pieces of technology that were better than others right now. The great news is it's all what are the markets that you see as the strongest ones in terms of opportunities for avon young and where are you seeing weakness in keeping an eye on things to make sure that you're positioned if the markets turn. We are looking at the u._s. Of course is you know. It's still a dominant player in the real estate services field the u._k. Germany france china obviously obviously in hong kong starts but japan india <hes> singapore but all of a sudden south korea is is a dominant force capital flows that are moving out of south korea all across the globe clearly into the u._s. Clearly into canada clearly into the u._k. Is now coming from places like south korea. So where are you look at the engines of growth where you have population poppulation where you have the headquarters of businesses. These are the places that real estate thrives you know a little known fact act is you look at canada with all the money and it is an amazing place. We are so proud to be a canadian company and we proudly sadly show the maple leaf everywhere but you do also have to understand that all office space in the entire country fits in new york so it's always a matter a relative size it are those capital flows that are coming from south korea because of oportunities that those companies see elsewhere in the world or is it is it because of concerns over stability in that region both and you you know you know. We saw this with russia at some point. We saw this with china at some point. We've seen this with the south american countries. It's both but you're <music> absolutely seeing some pretty mature astute investors who see opportunity in north america and they are putting their money tour when you are keeping your eye on things that might <hes> be indicators of the market market going south in some geographic area or in some asset class of what are the things that you particularly liked to look at. You know what you have to go. Oh <unk> asset by asset class by class very very differently okay so let's talk product types if you didn't have g._d._p. Growth or g._d._p. Stability i'd worry about all of them from office perspective. If you didn't see employment growth can you. You'd be a little worried but i'm going to pause for a second and just say i think it's also overlooked that you're talking about a planet of seven billion people. Most sources will tell you in the next fifty years. This is going to be a planet of ten billion people. Now you would expect that the that the population growth to be in some of the countries that housed largest populations in the first place make some sense a when you add three billion people some of what's being thrown around from some of the major sources of information say for example that in order to put three billion people more on this planet that you have to start building a million in square feet of housing per day every day so i think that there's a macro trend and specifically. We are bullish on the acquisition that we've made a g._p._a. Because we think that everyone is looking at brexit as a long term problem when we know that brexit is a problem but as a short term problem. We've launched this company into the teeth of the middle of two thousand eight. The world was falling falling apart. That's exactly when we wanted to merge this company and start to grow and so do the downside in in our industry. Our interest rates skyrocketing well. It looked like they were going to but they're not they're going down. There's <music> g._d._p. Stability employment growth or stability things are actually pretty good out there now if you're a retailer your suffering from the amazon effect and we had too much retail property in the u._s. Canada has less of a problem with that the u._k. Has slightly less problem with that but we have macro trends that very simply tell you where you should worry and then you have more of the micro influences like a change in logistics and distribution that has changed kind of the retail community but that also gave birth earth to a white hot industrial sector people are worried about shrinking space in office and all of a sudden the flex office providers riders stepped up so there's more to come here. You know in terms of dissecting the data in front of you. I am extremely extremely bullish. I would love for there to be a correction in terms of pricing because i don't think it's a stable for cap rates as low as they are but with that said i've never seen in my thirty five years. I have never seen the amount of capital out there to be put to work work in debt and equity. I've never seen this amount and that bodes really really well for our industry. So you said earlier that you have a pipeline of. I think he said two billion dollars worth of business that you're looking at bringing into the company from other companies <hes> in acquisitions what areas of the world are are you looking to expand to next well. You know it's obvious if you take a look eh our platform we have affiliates in certain countries that that we want to either acquire or acquire or acquire companies in those countries india is a place that we wanna open up offices. Yes <hes> <hes>. Australia is the place that we want to open up offices. We still haven't quite filled in a seattle for ourselves. Were pretty you. You know we're pretty good you know in canada. Were one of the top three there are. We've had five offices open germany. You'll see something out of a soon for the netherlands. The runs but again going back to it. If you think of a major market where real estate inventory and decision makers sit those are the geographies that we want to be in and then you look at what type of property is the focus whether it's going to be retail industrial office multifamily our hospitality and we will put the combination of what we call the two by five by five the two clients sets owners owners knock you pires the five service lines that each of them need and are five core product types and those are the places that that we look to invest more rose is chief executive officer of avis in young the full service global commercial real estate company based in toronto. Thank you you for being with us on the podcast today my absolute pleasure. Thanks for making it available. We'll be back in a minute. This is rabbi richard address join us for our podcast series from jewish sacred aging entitled seekers of meeting will explore some of the issues and events that impact ourselves our families and our jewish world eldest large in light of the current revolution in eighty the secrets of meaning podcast airs every friday morning at eight a._m. At jewish sacred aging dot com take today. You can't wait for the media to cover your company. You have to to be the media. Take advantage of the power of audio and video. It's the best way to showcase your expertise to perspective customers. Let the lubec in media accompanies handle the technical side. We're award winning audio and video producers. We can help you produce podcasts video programs remotely or in our fully equipped studio uh-huh in cherry hill visit being the media dot com for more information investors bank bank headquartered in short hills. New jersey is a full service community bank serving customers. Since one thousand nine hundred twenty six investors recently originated eleven eleven larger commercial real estate financing transactions valued at about one hundred and seventy one million dollars. The commercial mortgage loans were primarily used to refinance. It's existing credits on multifamily housing complexes office structures and cooperative apartment buildings the banks c._r._a. Lenders also negotiated construction loans owns and completed various lending contracts in the one million to three million dollar range. The bank takes a balance sheet lending approach to its commercial real estate portfolio eleo that means the bank keeps the loans in house and works closely with its borrower customer on keeping the loans performing properly the banks commercial lending portfolio also also includes more than two point six billion dollars in commercial and industrial loans in recent years. The bank is diversified portfolio to include more loans to owners of commercial mersal office buildings industrial warehouses distribution facilities and retail shopping malls as well as healthcare facilities joining us to talk about investors approaches coaches richard spangler executive vice president and chief lending officer of investors bank under rich spangler leadership investors commercial real estate portfolio has grown from <hes> <hes> less than eighty million dollars in two thousand five to more than thirteen billion dollars at the end of june rich. Thanks for joining us on the sierra news our good afternoon senate steve so you folks at investors bank. <hes> just booked eleven larger <hes> commercial real estate finance transactions about one hundred seventy one million dollars. You're growing your c._r._e. Portfolio <hes> what's the current value and what's making grow currently early on a twenty two billion dollar loan portfolio. We've got about fourteen billion of it out in c._r._a. And that's comprised of just under nine billion dollars offers of multifamily and just under five billion dollars of traditional commercial real estate <hes> we're seeing all different sectors of the marketplace so there's really not a concentration in any one area and it's been something we've been emphasizing here at the bank since two thousand and six two thousand seven. What are some of the factors that are driving the growth. <hes> is it any particular economic trend or is it the way developers are working. What's going on overall. It's been a very active market. It's been a busy market. It's been a great run post-recession. <hes> we decided i did in two thousand and nine. We really wanted to be in the multifamily space. We got heavy into multifamily is two thousand ten two thousand eleven. We've diversified a little the last couple of years i would say seventeen eighteen and now in nineteen. We've got a bigger emphasis on the commercial side just due to our concentration of multifamily so we're would probably doing more in the industrial office type sector than we are in the multi <hes> and it's it's an overall asset class. That is very busy right now. With the exception of new york multi which of course student in new rent regulations is in somewhat of a state of flux. How much of a role is the interest in the urban core. We're playing in the portfolio building that you're seeing are are you folks. Working in the urban settings. Were a lot of the multifamily. Luxury development is is going on like jersey city and those places yeah. That's what we're seeing. Most of. It is all transit based most of the multifamily growth whether it's new construction whether it's rehab renovation it seems to be centered around those urban centers around the transit village concept type so it's whether it's off of you know one rail line or another. There always seems to be a connection to some type of mass transit. You've indicated that investors. Bank is a balance sheet lender. Can you explain the advantages of a a balance sheet lender versus competitors who might be doing structured deals sure on the balance sheet side. You know basically what we commit to what we term. Term sheet or quote is basically going into our portfolio. It allows us greater latitude greater decision-making <hes> as far as things that are going to happen prior to closing as well was after closing a lot of other lenders are not balance-sheet they're selling off the product and the secondary market post closing and there's somewhat limited by third parties business to what they can promise what they can do and what they can't do so we're finding that because it's going on our balance sheet <hes> we have greater interaction with the borrower we to make more of our own decisions <hes> we we participate in a lot of different asset classes we offer a lot of different loan types and those are all things at the bar was really seemed to like. There's some value to stay in close to the borrower and being actively involved in a relationship with them yeah well we some. Most of our loan transactions are not standalone single transactions. We alone in for approval. You know daily and weekly basis when we look at it most. Everyone is a repeat customer for five six loans here. <hes> we offer a lot of different types of loans. We do five seven ten fifteen year loans. We do recourse non-recourse. Burn off recourse. We do owner-occupied keep hide. We do investment you know we do. The owners are residential homes for people when they buy them so we kind of cover the full gamut of different types of loans many of those other blenders specialize in one area you know c._b._s. Shop will be a great shop for you know a very high leveraged but a non-recourse type of transaction so when a borrower needs recourse. They can't go that route. You know life company. Maybe something entirely different with a very low leverage low l._t._v. but a great interest rate. We're kind of in in between you know we do. Construction loans do non-recourse. You know aaa type properties. We do bridge loans on transitions so we offer a full gamut gamut which you know with the real estate community. I think they like knowing that they can go back to the same institution. No matter what the asset type is so as you look ahead over the third and fourth quarter. What are you forecasting in terms of sierra loan production all right. I'll forecast that if you can forecast for me steve where the long bond is going to them looking at it today with a one fifty nine right to list sure where yeah i'm not sure any of it is going you know unfortunately you know we we lend off off of a long-term rate and we raise deposits off of short-term rate so it's a very challenging market. It's been challenging you know the past few months and even the past couple of weeks of gotten more challenging you know our cost of funds not dropping as fast as our <hes> cost of loans and so the interest rates on loans have more pressure on them than interest rates on deposits house. It's and you know there is an implied floor that we can only take a loan down so far so that is our biggest challenge right now. <hes> is actually being able to price loans competitive competitive relative to our deposits so depending on how that shakes out for the rest of the year that that is my biggest concern. Life companies do not offer deposits. They have a different source of funding and <hes> when rates go up. We tend to be more competitive. Instantaneous rate shocks. A lot of other people move their cost the money very quickly they moved their interest rates very quickly so when a quick quick upmarket we have a big advantage over the same token in a quick downmarket. You know we don't replace cds or money markets. You know instantaneously. You have a c._d. With us that's a six months today that rates not changing for six months. Investors bank is <hes> a regional bank twenty seven billion in assets or thereabouts outside. How do you compete with the larger banks that are very active in the new jersey new york metro market <hes> what is there is his secret sauce that you guys use <hes> that makes you different once again. I'd say it's because we cover so many different facets. You know once again a lot of other banks. Thanks i have different departments different areas. Maybe they only do certain types of loans because we do a broad base of a lot of different types of loans <hes>. I think that's something that gets us out there in front of everyone. I think the the fact that we're located here new jersey new york a couple of headquarters right here in short hills and new york city access to people is very good that we say that the people you know you're much much quicker. You're going to get our president and our c._e._o. At their for visit then you're gonna you know one of the large orange institutional banks that are nationwide rich spangler is the executive vice president and chief lending officer of investors bank which is headquartered in short hills is new jersey rich. Thanks for taking the time to be with us on the podcast today and that'll do it for for this. Week's addition of the sierra news hour don't forget to check out our audience survey by clicking on the purple. Take the survey button below the podcast player on the show page for this episode and please consider becoming financial supporter of our podcast by clicking the patrie on but if you have comments about our program or a story idea that you'd like to see us discover send me an email addresses steve at st broadcast news dot com you can also leave us an audio comment by using the voicemail feature on the right side it bar of our website at st broadcast news dot com. We take the show every week in our studios in cherry hill new jersey for everyone at the c. r. e. news news hour and state broadcast news. This is steve lubeck. Thanks for listening and we'll see you out there on the net. Take good care.
Pro Golfer and Two Others Killed at Local Course; Sheriff's Office Announces Two Child Molestation Arrests; Three Gwinnett Natives Make MLB All Star Game
"Welcome to gwinnett. Daily post podcast. Today is tuesday. July sixth than happy. Seventy four th birthday to actor sylvester stallone. I'm dan rack living here. Your top stories brought to you by a one tires and more pro golfer. Gene ciller was killed in two others found dead at georgia. Golf course lawrenceville prelude to the fourth celebration returns with tradition. Patriotism in full swing at sheriff's office announced his to arrests on child molestation related charges. Lawrenceville man was charged with pointing a laser gwinnett police helicopter and three gwinnett. Natives were selected for the mlb mlb all-star game plus searching for a house right now in the atlanta area can be tough later in the podcast. We'll get some tips for dealing with the real estate market from the chief lending officer at georgia united credit union. We hear worse stories all the time you hear stories about people paying thirty forty thousand dollars over the asking price right now. That's not uncommon. And hello i'm rodney sculthorpe. And i own eight one tires and more in lawrence. We're your go to place for tires and complete carcar. Don't put off getting those tires. You know you need and don't forget to check your ac and get your car ready for summer. Avon tires and more can check everything. Affordably get that maintenance done and bring on the summer ventures all of our work day one tires morris guarantee rest assured we handle every repair with accuracy integrity and honest. You can find us online at a one tires more dot com or give us a call at seven seven zero nine six three hundred eighty three thirty three. We're located directly across from lawrenceville police headquarters and we are a one on your rug. Police are looking for the person who shot and killed pro golfer. Gene ciller at country club north of atlanta on saturday. Cobb county police responded to a report of a person shot around two twenty pm and found ciller on the green of the tenth hole of the pine tree country club in. Kennesaw mr ciller. Who was a club. Employee was found unresponsive with an apparent gunshot wound to the head and was pronounced dead at the scene. The suspect had driven to the green white. Ram thirty five hundred pickup truck and shot the forty-one-year-old golfer when he went to see what was going on. Police also discovered the truck still on the green and found the bodies of two men in the bed of the truck. Both victims also suffered apparent gunshot wounds. One of the men was identified as paul pearson. The registered owner of the ram. Thirty five hundred. The other victim has yet to be identified. Police are still searching for the suspect. Who has not identified for the past fifteen years no matter where they are mary. Jane phillips and her family have traveled to lawrenceville prelude to the fourth to honor the men and women who serve in the us military. Miss phillips was among thousands of people sprawled on the lawrenceville lawn. Friday night waiting to see the city's expanded fireworks display events like the prelude to the fourth help. Small and local businesses get exposure the lines for the food trucks. We've their way around each other in the parking lot. Throughout the five hour event and by around eight o'clock some even started running out of food other musical acts before the fireworks show included. Timothy miller who god bless america and the one hundred sixteenth army band and riley beater. The county sheriff's office announced friday that its trafficking and child exploitation unit recently arrested. Two men accused of child molestation related activities. The unit sheriff kibo taylor established in january arrested forty one year old lawrenceville resident. James ll avert netters on june fifteenth and norcross resident christopher daryl taylor. On june twenty-first their arrests bring the total number of people arrested by the unit on charges ranging from sex crimes two crimes against children and gang and drug related matters in june alone up to fifteen. Mr netters faces criminal attempt to commit child molestation criminal attempt to commit aggravated child. Molestation use of computer service to seduce solicit lure entice children and obscene internet contact with child charges. Meanwhile mr taylor faces criminal attempt to commit child molestation criminal attempt to commit aggravated child. Molestation use of computer services to seduce solicit lure or entice child obscene contact with a child and possession of a scheduled substance charges. Both men were booked into the county detention center where they've been held without bond. Save money when you finance your next vehicle with georgia united credit union with arlo rates. We can help you keep more money in your wallet while if i borrow can enjoy rates as low as one point nine percents. Apr we haven't easy online application quick approval times and flexible payment terms for qualified barbers. Visit g you. C u dot org slash low rate although programs rates terms and conditions may vary inner subject to change without notice. Call eight four nine three four three to eight for details on go ahead. This is an important announcement from our s andrew. Hi i'm dr ben. We are not magician. Costumer may say we perform magic bringing tired. Ac systems to factory fresh specs thanks to our s andrews negga tuna. It's pretty magical mega not magic. It's a comprehensive exam of your tire system. Your evaporator inside your condenser outs and everything. In between howrah injuries helped sisters perform white the day they were installed for just ninety nine dollars a seem like magic. It's really are clean. Screen trained entirely sanders tax casting. A spell over your sister not caffeine any spell. Just kidding we even check your thermostat. We check every partier says keep it cool in all some because it's not just a tunas. Rs sanders mega tune. Just ninety nine dollars you call we cool. All some guarantee imagine not match. How can we make you smile. Today's ban he's dr. where are andrews dot com. Lawrenceville man was arrested after gwinnett. Police say he pointed a laser at their helicopter as it was flying near twinbrook way. Thursday fifty-year-old theodore roe was charged with laser use against an aircraft. A green laser was pointed at the cockpit of the police departments helicopter while it was doing surveillance in the area around twinbrook way. Shortly after ten pm on thursday a pilot's ability to operate an aircraft is hindered when a laser is pointed at the aircraft and the laser. Also interferes with the aircraft's equipment as a result when police are stressing the fact that pointing a laser at any type of aircraft is illegal the case against rose being referred to the federal aviation administration. And it will be presented to the. Us attorney's office for possible prosecution. Talk the tall. Conveys the man and bob if the scooter the bob iran the new they knew him all boston to dubuque. Especially mickey do three former gwinnett county baseball stars were named the mlb. All star game rosters on sunday. It'll be the first. Mlb all-star appearance for all three will be teammates for the american league. Baltimore orioles outfielder. Cedric mullins oakland a's first baseman matt olsen and los angeles angels first baseman. Jared walls mullins played at brookwood olsen played at parkview. Walsh played at peachtree ridge. Cedric moans breakout. Season has been a bright spot. The orioles he's hitting three eighteen with fifteen home runs and fifteen stolen bases and he leads all aol outfielders in opie s at nine sixteen and ranked second in batting average in addition to tying for the league in hits. He's one of three. Mlb players with at least thirty five extra base hits and at least fifteen stolen bases matt olsen makes his all star debut after a strong first half that includes two eighty-three batting average with twenty home runs fourth in the al and fifty three rb is he also ranked seventh in the league in slugging percentage at five fifty four eight and opie s. Nine twenty four in his fourth full big league season jarod. Walsh has been a huge steel for the angels who drafted him in the thirty ninth round. Two thousand fifteen after playing college ball for the georgia bulldogs. He's hitting two eighty three. With twenty homers tied with matt olsen for fourth in the al and sixty one rbi's searching for a house in the atlanta area can be tough community reporter. Jp edwards is with the chief lending officer at georgia united credit union to find out. What exactly is happening to the real estate market. So my name is. Stephanie is like our. I'm the chief lending officer georgia united credit union. In the reason that. I have you on the podcast. Stephanie is because the housing market is nuts. I've heard stories of people not even be able to buy a house or putting multiple bids down in. They're not able to get it what's happening. Yeah so you're you're definitely right on. We are seeing this happen over and over with our members and our team members in our own stories But it's really just comes down to a inventory shortage To give you an example. There's only a little over seventy five hundred homes in the atlanta area right now. That are for sale. I am that was down. That's down over sixty one percent from last year because they're so little inventory that prices are increasing twenty four to twenty eight percent And it's just a lot harder to be able to make an offer and get a home these days simply because there's less less homes out there so there's less homes out there in. Let's say that. I'm a buyer. I'm trying to buy a house. And i want to go put a bid on it. What can you since you represent georgia united credit union. What can you as the lender d- do to help me be able to get house. So as a lender we have a couple of options we can give pre-qualifications which are pretty common They basically just take some of your information. How much money you make your debts and kind of say. Hey this is what you can afford But i would suggest a taking it a step further getting a pre approval and a pre approval is digging in a little bit deeper on what you can afford looking at more information looking at your credit report your income and really saying. Hey this is what we can say that we would honor you Four from Standpoint and that pre approval letter is a must these days to walk in and be able to make an offer on a home. They're going to want that. When you make the contract to write the contract on the home so does that give your offer a little more ump. Yes definitely do you have any stories. Has there been any people come into the credit union that have basically given you a horror story about how many houses they've tried to buy. Yeah we hear horror stories all the time you hear stories about people paying thirty forty thousand dollars over the asking price right now. That's not uncommon The other thing one of our team members is a first time home buyer told me last week that him and his wife have their twelfth phone that they're trying to get And so it's just incredibly difficult right now. They're coming in at what they believe is a very strong fair offer over asking. They're still not getting these homes and so I think people are just experiencing a lot of stress in frustration. Right now so. I would kind of just say my advice would be get that pre approval at our find a great realtor who's experienced and can help you and very responsive right because you have to act quickly in this market and also just make a good and fair offer for what you believe. The home is worth stephanie's. Allegra is the chief lending at georgia. United credit union in stephanie defined herself right now with this housing shortage. Do you find yourself kind of playing role of therapists in your office. Two i think several of our team members who are helping people through this process definitely. Yeah have to play that role right we. I mean it's frustrating for people and we've kind of all been there. The home process in itself can be frustrating. It's just stressful. You have this dream you're trying to achieve and sometimes going through. The process is hard and now we have this extra layer of it. So yeah but it's definitely about being there with people you trust finding the right programs in one other thing. Is you know this market is also a market where your downpayment doesn't go as far Simply because you're paying over the price right in so look out there for options As far as down payments. There's lenders echo up to one hundred percent like we have several programs at one hundred percent or putting five percent down for very large loans. So there's options for you out there So just kind of do your research and make sure you understand What is available. And what works. Best for you stephanie. Zoo the chief lending officer georgia united credit union. If somebody wants to find out all the information where can they find that. Yes so definitely go to juicy you dot org. And there's a lot of information out there were kind of putting new information articles things like that and you can touch base with any of our mortgage loan officers. Who'd be happy to help walk through the process. Stephanie's allegra chief lending officer torture united credit union. Thank you so much for joining me. On the podcast. Thank you for having me. Why by kia mall of georgia. We provide award winning. Customer satisfaction have been a family owned business for over twenty years buying or leasing with us as fast and easy and you can get pre approved online and four simple steps. We offer top dollar on trade ins and have new vehicle specials that are updated every month and are factory trained technicians make servicing your vehicle convenient with extended service hours. Stop by and shop with us on the lot or visit us online at love. My key dot com has the time. Come for you and your family to buy or sell a new home. Peggy slant properties is here to help peggy. The team have been gannett and surrounding areas for thirty eight years. Helping folks just like you and me. Peggy slapped properties consist of more than thirty five realtors that realize foster strong relationships with community is the key to their business. They work with you. Regardless of circumstance residential homes are newly built they have listings all over the county in today's climate. You hear a lot of noise from others on how they can help. Beat the difference of peggy sloppy properties. They're buying and selling for neighbors family and friends. Don't you believe you'll get the most value from a team that knows the lay of the land. Visit peggy slapping properties online at esp online dot com or. Give them a call at seven. Seven zero two seven one five five five five seven seven zero two seven one fifty five fifty five. Peggy slapping properties delivers the very best in. Gwinnett georgia real estate because you deserve no less atlanta the jay and lewis owners of engineered solutions jordan. Lewis watch it a homeowner. Do they have a crack in their block. Wall corner of their door window or concrete faction well jay. If it's a diagonal crack this. Lets us know that they should be concerned. There could be a serious problem then. They should call our office at six seven eight. Eso g now in set up an appointment to have one of our qualified professional technicians. Come out to their property to take a look at the problem. I'm consumer investigator dale cardwell. I've done the research already so you don't have to. You can trust engineered solutions of georgia give engineered solutions of georgia. A call at six seven eight. Eso g now and caverns shows thanks for listening to the gwinnett. Daily post podcast. This podcast is a production of bg ad group. You can add us to your alexa flash briefing or your google home briefing and be sure to like. Follow and subscribe wherever you get your podcasts.
What Women Entrepreneurs Want You To Know
"Hello everyone this is Eric. Pennington the spirit of Eq- and welcome to the spirit of Eq- podcast life journey spirit of E. Q.. Helps shape and in guide the road ahead for individuals leaders teams and organizations striving to realize their full potential through emotional. Intelligence spirit of Eq- Is a coaching and consulting company that assists individuals and businesses to reach their full potential by developing emotional intelligence intelligence in Business Anna Gers and leaders recognized the value of training to develop leadership skills but they may not realize. Is that those. The skills are far more effective when they pay attention to not only performance but also to people emotional intelligence is a crucial skill because because people drive performance and emotions drive people after this podcast. Listen for a special opportunity to learn more. Today we have a very special guest Christie farm. Bov Who is the executive director of Nabo Columbus is joining us today for a lively conversation and joining me as always is Jeff East with the spirit of Eq- Hi Jeff. Hello Eric and Christine everyone listening so with that Hello Christie how are you huh. Hi Eric Great so happy to be with you on this sunny Friday afternoon. Oh Yeah Yeah. And that's we've got a little view of that now too so it is a good thing Considering where we live right so kristy I even said this to you Before we came on air that you know I really want to make sure I don't put your last name and I think I did pretty good there and I think I got your title good now. Here's the opportunity for you. Can you tell our listeners. A little bit about about what you do with Nabo what it is. Actually maybe because there could be some that don't know what it is and maybe a little bit of history. How about that? I would love to hear that with you. Thank you so much so I said I am a cookie executive director of novel Columbus and I joined the organization In July of twenty. It's up to us so just about two and a half years ago And have been charged with shepherding a twenty plus year old Organization the Professional Association for Women. And so we serve when business owners of all sizes industries creeds. It's diversity of all kinds gender Racial again income level Who want to grow their business and make their mark on the world? So that's really who use to serve the history of Nabo. I've actually some of the National Association of Owners Goes back to nineteen nineteen seventy five so I tell the story I lot and folks are are surprised to hear at that. In nineteen seventy five women were not allowed. It was illegal Kurt to borrow money in your own name without a male. Cut cosigner to sort of it and that's been very long ago right. Not long ago thanking Seventy uh-huh some some fearless dedicated women from across the country Kind of picked up and moved themselves. What because of course that was before cell phones and social media and all of that right they literally you know called and walk the halls of the State House to begin to lobby to change that law to allow women to to borrow money and they're on because it was really the wild log last at that time so Any male co center would do a husband with work well but if he didn't have a husband there are stories and I have actually met a couple of days when he worked on the On the legislation you were You know say you're divorced. I and this was a true. True patient support her father had died and so her seventeen year old son. My goodness that right There were there were stories of uncles with bad credit. And you know again any sort of watching readings male with with you and so we might imagine things women thought this was not right and and was holding the back way So they moved in and lobbied for thirteen years. I just thirteen years until October. The twenty fifth nineteen eighty eight wins then. President Ronald Reagan signed the Women's business ownership act into law. Aw making it You know lawful to loan to women dishonors and there are there are few regular Columbus. uh-huh I know who who went through that fight in the day and once the law passed which by the way that law holds the record for the piece of legislation that moved move through the legislature in the fastest amount of time it took a hundred and two days in nineteen eighty eight and that record still stands as the fastest the pizza place and then today we can understand that right? Thank you So that's kind of an interesting little pill for anyhow history. About south there's kind of an interesting little factoid like And then not law was intended to let you know what changes okay without a cosigner but also increase access to mentors and role models and educational opportunities and really begin so list list. Women are and giving them equal access to systems that support So those were those are some of the things that were But they worked on and and that kind of really sad part of the story here. We are thirty one years later and many of those same barriers tapie zest for so I. If you don't mind I'll just kinda hit with those are we. We don't have a lot of research on this. Well you know Kristie as you're saying that you kind of Read my mind because that's where I wanted to go. It was kind of like well Howard things going today. That's a great great question Eric. I'm glad to and I. There are some and there are some bright spots right there. There's certainly some great wonderful success stories and One of those a novel chapters popped up across the country Many of them began in the in the mid nineties Nago Columbus Came to be nineteen ninety seven around this idea that we started with what what was competition awards which we still give today to women who have made significant contributions to their communities and their families and their businesses But it started with that very colonel but idea about why. Don't we raise up to begin to celebrate. The women who are who are making strides right and growing businesses and helping families and communities and whatnot And we know there there's some We'll talk a bit more about that but as it relates to the current right barriers. Today right so we're still looking at a wage and wealth gap. There's a lot there's quite a bit of talking. Columbus certainly about equal pay for women working companies right and The other the other sort of sad part of the story is that whatever whatever weight women face in their businesses women women of Color Really haven't even harder uphill battle right so the minority piece of the or the the women of color pieces is also also at play so Let's take a look at the wealth gap so the women's funding has recently released a gender. Well study that sites entrepreneurship as the one of the best way to create an independent financial economic future For for your family or your community and quite honestly so. The Nation Right so owning business in entrepreneurship as a pathway that however in in Ohio Ohio based on census data while we know that again Ohio women at there's a seventy percent disparity among Toyota about around total income of women on businesses compared to balance so sort of say that again. 'cause that was kind of jumbled so there's a seventy percent sperry in total income earned for women business owners when compared to male. So what that means. Is those women entrepreneurs you know Hieaux make twenty two cents on the dollar. So there's and there's a host of reasons for that we actually want to dig in and find out a little bit more about the root causes caused that right Some of that is our own limiting beliefs. Right as women. We tend to not ask much. They'll charge as much Take bad deal with some of that is our own limiting beliefs And things we've been told and then some of it is just as to stump with which we have operated operated in the the political economic and social systems That we operated which which leads into kind of a second there which is A lack of access access to capital so in nineteen eighty eight. When the women's ownership act was passed? Women were getting two percent of all capital bank loans venture capital the whole deal and today in two thousand nineteen almost two thousand twenty. It's still see percents and yet women start businesses anywhere. You hear different numbers anywhere from three to five point faster and more often than that Kristie. This is Jeff. I've got go ahead. I'll let you finish. Yeah now my question is how much do you think is this result of a mindset either from the women's aspect or from the establishment. I think it's about right. That's that's a really great question And get a little bit into another barrier which is Persistent implicit bias. Right so there is also some. I'm a discipline research in the in the capital in the in the in the VC conversation. Right when I'm pitching to an end after Men are ask questions around how how they will grow and succeed and women are asked questions on how they walk sale right and questions around. How can you possibly go this this company as a mother of two small? Sheltering how do you think you can compete. When you're you know there's there's some bias right that Women and we are women are most often the caregivers and we certainly are the ones that give birth right But that's somehow limits your ability to be a successful business owner. Aw Eric is sitting here hitting his head when he heard you saying that. So how do you go about changing that mindset. I I think do you think it would be easier to change the mindset of the the establishment. Whatever that is or the mindset of the women right so so again another great question I loved it? So that's one of the reasons why organizations like novel Columbus or Nabo in any in any community there or sixty chapters across the country. And it's the reason why you need a community and a sisterhood as well To to help you get over those times right when in your head thinks might not be going so well or or you think you're not worthy or WANNA quit right you just everybody. I mean I think men needs this kind of support to. I don't know if they reach out and see get as much as we do as women You know the guys tend to jump in and and do stuff I think and we tend to be so landfall and every tease got to be dotted and every is got to be every he's got to be crossing every is got to be dotted right very plentiful. I know personally. I'm a planner right and sometimes you just do it right but go So so in organizations McDonnell help with that we help provide that education and training on the soft skills and building up the confidence right and so we've kind of talk about the three things we need is we need to see what the table And you know in this day and age. There's kind of no reason that when we convene and gather and hope forums that the that it isn't a diverse pool of people in the conversation right so that's one thing A second piece would be just a level playing field bright so that that we can have the same access to the same system. Same long structures Our guys and then the last piece is that knowledge support encourage so all that we can do to help train Access to role models right so Seeing people who look like us who were doing what we WANNA do so successful business owner successful business owners of colors it right how do we how do we shine a spotlight I and create that hope that that isn't true. You Know is within your reach you. You said a word in there that a treat intrigued me when you said courage orage. How do you go about increasing the courage in in the women that you're working with? Yeah so one of the ways we do that is members members can participate in what we call round table. You might also call them master minds Tennessee. Same idea right. So it's groups. A group of sixty eight Women business owners varying sizes different industries. non-competing Sumi once a month to work on there but so this is like serious. You know I got an HR problem. How do I figure this out? And usually there's somebody in the group right. She's lived through the same thing I saw the HR problem. How do I find that school? The bank froze my line of credit. What about that right? So that's that's one of the things we do. The other stuff is that we have The way we convene. I'll talks here in a in a minute about the public policy work that we do. But that's the long game right continuing thing to change the laws and see something. Mobile thank field is a long term game. In the meantime we can convene in small br so build that community so yesterday just yesterday. We had our monthly lunch Thursday of every month we made at the boat house and we have a dynamic speaker in about the hunger more folks will shop depends on the speaker on the topic. Of course right ten yesterday happened to be talk about disruptive innovation with Sinisa Lisa Robinson from dog. She's in the female Reduc USA. Right and I've actually recently starting and you start up called wonder. And she she just Kinda likes to blow things up like she's an innovator and a disruptor self-proclaimed And so to see her Saints People WanNa hear that story and want to hear about how she overcame the challenge innocent right. I mean she's had she's been involved in companies that AH we're losing a million dollars a month which I can't I can't wrap my head around that wouldn't you do when you're like holy cow right and economies of scale. Oh I oliver. Osama bin L. Dollars. But what do you do when you're hemorrhaging. Cats right and so two to one of the things. We're really focused on and really working on heading into twenty twenty is capturing and sharing those stories of women who have who who overcome those challenges and can build that courage and can be that lighthouse rights for A. What's on that path to keep going right be persistent And help help her courage. You Know Kristie as you Mentioned that part of Me Banging my head that Jefferson refer to as sometimes I I feel like manner like Charlie Brown and we keep falling for Lucy's trick. You know I got to thinking so I'm not going to go into male bashing so I I'm I'm GonNa take a higher road here and it makes me realize that a lot of women business owners may have have resources that they may not even know that they have incited themselves right and I I know in the work that we do. We're we're always endeavouring to help. People discover how they can leverage their emotional intelligence all of the competencies and I know from my own life and and the things that I've endeavored to do that. That's when it's critical right that it's it's critical a leveraged the tools you have inside yourself when it's two in the morning and you're are you wake up and you go. Oh my gosh that I make the biggest mistake of my life and taking this on right because that carries over into what is going to be your mindset going forward into the day so let's imagine that and obviously for what we're talking if that women woman business owner is going to meet with a banker about alone and at two. AM conversation wasn't addressed. Man That's going to have an impact pack now. Hear me out listeners. If you're a male banker that does not give you an excuse to be Charlie Brown. It does say for the well being of that owned business. Owner is being able to resolve those things in a way that leads to maybe potentially usually a better outcome inside and out but anyway I just I just got to thinking about that as as you were going along. Maybe that's a little bit of a Segue to ask. How do you think the well being part is for those winning business owners out there and include the very successful ones to the ones sounds that are struggling in between so I was thinking? Well you retire counseling. I Love I love how you are weaving of course right you piece of that. Well that's very. Thank you for noticing and that was beautiful. Ray maybe a couple of things before I go so I if I WANNA say new side we we are not about bashing bashing that right we need beat the guys. We need male champions the male champion who are in those positions of power to help us and and on the other side. We'll do everything. We can't Dan to help you help out right so sometimes Guys will say I mean we can't come to your guy like absolutely you can come like please call call you are so you know we've come to our events And a lot of our of our business champions get a lot of support from business teams of town. A lot of slimmer led by them so no male bashing you need. We need the guys to help us. And I also find that Men who have daughters really WanNa make the world better from daughters who really want change these systems for the next women due to right they wanNA leave that legacy and make this better for the next generation right so I just wanted to add on the back because we lead you hate mental. I can attest to that right and I was thinking about. Is You hit on to the room of Most talented An empathy and that's right so I think when when I am maybe pissing through a mail banker or a male. DC It's he can have some empathy for coming up and sort of you know you know that whole thing. Put yourself with somebody else in trying to understand where they're coming from. I think that would help. Change the conversation to right. That's sort of leaning in about what's going to be more about that or tell me more about that struggle. You know whatever it is right Chrissy. I'm interrupting because you just said something that really triggered in my head and it's is born out of my desire to help and I I hopefully. I won't Rift too long on this. Got Me thinking you know if that woman business owner right and I'm going in and I know that I'm meeting with John Smith whose Chief lending officer. Whatever the case may be? I don't know the terms terribly well and maybe doing that kind of research that goes beyond knowing what the bank typically does how long it's been in business but maybe a little more about him. Is there a way of looking on facebook. Is He married. Wow look he has two daughters okay. I can leverage bridge some of that because I can ask him to put himself in the shoes of his daughter. WHO's wanting to start a new business in needs alone right? And and and that's that's the beauty of Eq- certainly and it's also just a very strategic thing because I don't think most bankers even the ones that are not doing maybe the best job under the Sun Right. I don't think they get up in the morning and say hey you know what. Today's a good day for me to find a way to mess it up for women business owners. I agree with you. I don't think anybody gets up in the morning so I hope I really screw up exactly right and however I made the cold hard reality is that it still happens and that just Kinda got me going there and I and I turned it off turned down a different road so I want to get back to the well-being part. That's that's that's an important thing. Well let me. I just went when must cease about that. I think people have from at kind of the core values in our our police which we doctor novel right. But I was I I. We're non profit so I do a lot of fund raising and partnership building writers connecting nothing. Nothing I mean you and I met right. Somebody connected US and and the way we went so I have been. It was a piece about confidence right so I was this meeting with a potential business champion not long ago and I noticed in my research that they were supposed to financial confidence and their core values statement about financial top of that and so I was able to say look. We're about near aligned on that you're about building and business confidence and you're about finance and it seems to me. There's some alignment like and and it turned out to be a happy ending. I mean they have. They have come on board as a champion for in in the New Year. Twenty Twenty so oh I totally agree with what you just said about just finding those linkages and finding that common ground yeah and I go there. Go there what you want to say. No as just me and my elation of what you said Christie See. That's the danger of having you on as a guest because I feel it's like when we have have coffee and I want you know but I'm going to be a good I'm going to be a good host and now I'm GonNa let you talk about well. What Christie don't agree about trying to keep to an agenda because we never do? Okay good I like it. I like it so so we'll Berkeley research yet. I've taken this way down another rabbit hole. I guess I was thinking about the well-being for The the woman business US owner and how they're managing all the different things of life. We know entrepreneurism is hard on many levels. The many of which you've you've you've discussed. But how are they doing physical mental spiritual emotional health from what you've been able to observe so I can tell you this we we have just just finished A A strategic planning process where we did some discover an conducted a bunch of interviews with cold or not and I can tell you this so as we talk about our purpose of empowering limited doors to overcome challenges and fully realized that is our purpose. That's why I get every day in the morning. Well my fourth volunteers and whatnot but when we remember going on that statement My board in the middle of the process. We had us the tours overcome out frank. Some power bars to overcome challenges and fully realize that you participate. Because that's what we do every day you're right that's for nursing is hard whether you're you're male female round black it doesn't matter it's hard right and their good days and there are no right And so I think And you know what I'm saying is we're also Sorry December once. It is focused on and has been for several years focus on health and Wellness Walnut And then this year. We're going to go in there about well right so I just use airplanes. I just said this yesterday right. It's like when you're on an airplane and they tell you to put your oxygen mask on first write you a sea of you are the number one F- at that company right without you if if you got sick or House the mental health challenges. Or whatever like it would affect your company it would affect your employees right the whole deal so we try to talk with our With our women about taking care of yourself conscious about that physical emotional emotional mental health And I and I believe that being in a community like novel Helps you do that right. 'cause there's you're having a bad day boy. I sure hope they call me. Or they call a member of their round-table or another member that they know and and sort of you know get that hope and that courage and work through it right. It'll it'll how whatever it is. I just find a way through every challenge But I used to tell on my kids when they were little. I can't help you know about it. I can't I won't help right if you're keeping inside and you're not sharing so I know for sure based on the stories. I hear that I talked to every day. That when you're in a involved in a group like you will go further right right. There's an old. There's an old African proper that right like if you WANNA go. I'M NOT GONNA say it right but if you WANNA go slow go along but if you wanna Wanna go together you know I forget the exact proper but I know for sure that you'll go farther faster And and probably we rely more success when you're in a when you're supportive committee right apple and I think that you're wealthy. Yeah and I think you're you hit on something there to that. That's really important and I I regardless of your background if you're a listener because I think isolation is probably one of the most dangerous things for an entrepreneur. I would dare say it's it's it's a really dangerous thing for just anybody. They walk in the planet. And if you have outlets and places that you can go to to find out that you're not alone in the a journey and find out. Yeah I experienced that two months ago or someone else who says Yeah I. I went into that same bank six months ago and I got the same kind response but I found out. It's because they're just not filling in the blank right and you guys do a great job of Bringing together that community unity so that they know that they're not alone and and obviously and I'm guilty of this Cristea of just because of my wiring. Sometimes I have to have people to like tap me on the shoulder and say Eric. You don't have to do all of this on her own. You know yes. I'm laughing because someone said to me. I don't know if it was used recently. You don't have to boil the ocean The mall or yeah. And that's the thing I I think in many respects when we interact act with people. There's that you know you mentioned that. The and the walking and other shoes. I think there's something to be said. And I know we've done this on previous episodes kind of as a recurring occurring is that what about the self sympathy may be great that you understand someone else's shoes and what they're walking in what about yourself itself again Christie. This is probably not going to surprise you. I was going through an assessment This is probably close to six months ago and and it was a pretty deep dive type of of look and the lady that was kind of doing the The debrief or or whatever you WANNA call it. She said I've heard a lot about how you're doing from your business pursuits in which you're planning in which you're working on. And then she says after after a long pause so who does that for Eric And and you know Kristie I just sat there and I am going you know. I don't have a good answer and that might mean I do have an answer. And that's no one now. That's my cross but at the end of the day you know having outlets like Nabo for those business owners is really cool thing and If I remember right maybe you said this. At the beginning Nabo is the largest chapter in the United States right. That's right now yeah. Columbus is the is the election chapter the system. That was true. It's interesting it's about twenty fourteen before I got here. I kind of jokingly say like I can't I can't claim that I am impossible for that growth. I'm just trying not to blow it up right to keep it going and yeah with with forty eight thousand thousand plus women business owners in Columbus Ohio discussions of no I totally agree totally agree so Kristie typically as we get closer to To the end here I always like to ask a question around whose inspiring you recently lately or who or what however. There's a new question that I'm going to throw out in this one and I know you're okay. So let's let's see here comes a curveball. But it'll be really cool because I'm even willing to share with you If needed so that I'm not putting anybody putting you in in a in in a spot but you know it's one thing to ask people so what was one of the best decisions you made in your in your career and your work your business. Whatever but how about what's been one of the worst decisions you've made? And what did you learn from it because what I have found an and in my personal life and professional life. I've learned the most from the decisions. I made that were really bad decisions. That's when I could really come come away and go you know next time or Blah Blah Blah. So you want to try it out. What do you think there? I'm game to play a planner so this is really okay. I know I know So I'm happy to play and I agree with the failure. You're the best Bernie Apple. Yeah and I get it. I mean culturally. Everybody wants to talk about the mountain to climb the deal. They closed the car they bought. Whatever ever whatever but we all know at the end of the day yeah failures where we go to learn so with that? Can you think of one. You choose the area of life and UH MOS- one of the worst decisions you made. And what did you learn from it. Yeah I can I can and I I would. I would see the business this experience and I unfortunately it's probably happened to live in once right but I'm in I'm a tramp the most recent well this this is been four or five years ago right so I was made an offer. I thought I couldn't refuse They were given to me by someone. I thought I knew you well like it's a long term twenty year really break and I Y- oh you playing into this is that I am a real relationship person like oh all in with people and kind of take him at face value and you gotta prove me really wrong right. I believe in second chances and so you know I like I go all. Yeah so this is this particular case. I was all in way And had been had been entrepreneur myself since two thousand six and didn't full-time. Oh nine to twenty fourteen gene right and so Kinda moved out him out to go back inside and it's all because of this for actually circumcision. Yeah I thought it was disgusting for my family. I two kids in college at that time and my husband and I are both north and I I kinda got scared when I think compass with our we basically how am I gonNa do two kids and a smaller college. Right and and if you're self-employed you know you know cares. Charred can I thought a friend could go back inside and Take this job with healthcare than I phrased that healthcare costs for college tuition. That was my thinking Then again I approach those impressions mom the woman right and it was. It was a bad decision Sakata citizen and I kinda knew if I'm honest with myself are in my i. I didn't really want to do it and I. It was a bad decision but I thought it was the thing I ought to do for my family and and when my boys and I wasn't wasn't there very long and it was not a good. This is my but it's part of it is when I discover the people. I'm all win with are not too much and so that's when I get over if I think about over my career that's what I've got myself in trouble all the way back to all the way back to college well. They didn't so so on my decisions. If I'm really honest and flex your question was part of it has to do with long term relationships that either. They're people change well. We're I which which could happen right. We all have these experiences change war. I just see something Michigan State. Wow Wow great thank thank you for doing that. And you're a first so he did awesome. so how `bout how `bout Yeah and on a on a uplifting point sort of as we're getting to the to the end who or what has been inspiring you lately that's really interesting so You know what a couple of things come to mind. Well I am inspired. I mean this is gonNA sound like a like a softball answer and I don't mean it to but them inspired by our members and the women business owners that I get to support everything every day I mean truly they they are fierce and they have built companies or they're building companies or they have big dreams or they've they've overcome the big obstacles right and it's part of the reason why I took this job and I met some of these things. I WanNa work with them. I will learn from them. I'll I'll be smarter having having been here with them and and hopefully I can contribute something along the way too great but so I mean it sounds like a big ball answer but it's really true And then I've been I've been learning You know I I'm a big re. You're not talking about this because I love Fox sort of famous for. I'm reading a book and then living onto the next tiny buck and I never really finished any book but I know a little bit about the literature. Yeah but the latest thing. I've been listening to that. South knitting is actually a podcast. That comes out of Duke. University called seen on radio That a friend of mine recommended and they've done to series. They're kind of their their experience. The first one was around race And how we got where we are today and Rachel and say listen to you right now is called net and it's looking at how we got to some of the Patriarchy systems just so that we have today and it's a a male name so I can remember it is a male host. Female Co host The female as a woman of color and so they kind of changed their personal experiences. But then lots of history like all the way back in history that sorta look at some of the the things that happened in history that got us do we are today and alone halfway through it. I hope they'll come out with some food at the end but I think under no I didn't I wish I had but I didn't study. I didn't take gender studies in College. I didn't I didn't study women's Issues I I didn't I don't have about my educational background and so he's just been fascinating To listen to this and sort of history and it's very fact based on history. Yeah well that's very cool very cool. Lifelong Learner so Kristie. I cannot thank you enough for joining us today. Really really really enjoyed it. Obviously we always like to Invite you back when the time and the place is working for you and all things lasting this thing truly last thing if we have listeners out there who are either have already started a business or thinking about doing females who you could sit in the either one of those. What's the best way for them to get a hold of you or Novela? What what's their process? Yeah so that's it's probably just as a centre website so bob. Oh CPA Scott worked and W. B. O. C. bus stop work Certainly from there you can find our phone number around our emails Again I'm the executive director and we have a part time membership thinking coordinator I would invite you to come if you're interested when you're in one learn more Soon email got us a call and they've come to something no zero pressure to delay right out the gate. That's not my style but come check us out and and meet some of the women That we hang out with and then and then kind of go kind of go from there. That's my busted and to ear point earlier like the whole struggle and isolation right come somebody out. There has gone through what you're calling Kristeva for their listeners in aren't in the Columbus area there's many other chapters correct there are so yeah in Ohio Cleveland and come up with I work real close with any naps has the second largest chapter And not not far away. There's one in Kentucky but you you actually could go to They could go to Nabo dot or any. WBO Dot Org the national. What state and search a chapter in your area? And I often and make referrals. I just referred somebody to DC the other day so happy to help you connect and get you connected. Perfect thank you perfect with that. Everyone we will close out. We thank you for tuning in as always and we look forward to the next time. We're together take care. Thanks for Subscribing Ping analysts to the spirit of E. Q.. podcast with Jeff East and Eric Pennington Spirit to be Q.. Is a preferred partner of six seconds. The emotional intelligence network six seconds is a nonprofit organization. Researching works in emotional intelligence. Best Practices are shared through methods and tools that are global scientific and transformational to find out more about spirit of Eq- or two requests. Mr Speaker go to spirit of e q dot Com or contact. Information is in the podcast show notes as well and now for our special offer offer. Hi this is Jeff again. I just want to let everybody know that if you have any questions or want more information about anything we've talked about. Just send me a quickie. quickey mail in my email is jeff at spirit of Eq- DOT COM and I'll get right back with you thanks.