Paula Fowler Presents to The BENG, October 13, 2020
Decoding the Engagement Challenge or Why People Leave is a conversation about the four factors of employee engagement – Job, Manager, Team, and Culture and how they impact productivity. PI’s motto is Better Work, Better World and the premise is that by understanding human needs and behaviors, we can select a job and company that “fits” our natural tendencies and be happier at work, manage people more successfully and drive company success.
Paula Fowler
Paula Fowler is a strategic leader with a proven ability to create a company-wide vision and drive business results. She has a passion for working directly with entrepreneurs to implement strategies for growth and profitability. Paula has over two decades of management and consulting experience in small to mid-sized businesses across a broad range of functional areas, including sales, marketing, finance, accounting, operations, human resources, customer support, and business development.
She is skilled at analyzing existing operations and implementing strategies, processes, and technology to improve company performance. She believes that entrepreneurs often know what to do – but lack the time or internal expertise to accomplish the task at hand. Paula will deftly tackle the project and drive it to completion.
Paula is also a certified Six Disciplines Coach, a management system for purpose-driven leaders of small to mid-sized companies. Six Disciplines combines on-site business coaching, workshops, and collaborative software to close the gap between the future vision of a company and today’s reality – by engaging the hearts and minds of every employee in the organization and aligning actions.
HR trends and best practices for business owners and management.
Distress in the workplace lately? You’re not alone. Flex HR consultants often get asked to come to speak to businesses in various industries regarding the vital HR functions to keep their businesses sustained properly. Thus, Flex HR offers a Human Resources Bootcamp for business owners and managers.
Recently, Flex HR hosted a Human Resources Trends Bootcamp in Denver, CO. This discussion focused specifically on Veterinary Practice initiatives essential to HR that owners and managers must comprehend to stay compliant with labor and IRS laws.
This presentation took a deep dive into HR best practices, current HR trends, clarifying policy, laws, handbook communications, managing millennials, HR operations, onboarding & termination, and of course the impacts from COVID-19. Jim summarized tangible situations and how the repercussions can cost tens of thousands of dollars to your organization. He also outlined the “Risk Factor” of actions that are critical for managing the human side of an organization’s enterprise providing examples on how to get the most out of your human capital, along with tools to take back and implement in your practice. It’s imperative for businesses of all sizes to protect and grow their assets, but lack the HR knowledge to do so. Consequently, nearly 85% of organizations outsource at least some HR functions.*
Jim Cichanski – CEO FlexHR
Jim Cichanski was the presenter. He is the founder and CEO of Flex HR, Inc. and a Preferred Partner of VSG. Jim also spent 26 years in the Army National Guard achieving the rank of Colonel, was inducted into the Officer Candidate School Hall of Fame, and received numerous awards including the Legion of Merit. Jim holds a BA in Applied Behavioral Sciences, is a graduate of the Department of Defense Equal Opportunity Institute, has served on the board of HealthSource of Georgia, and was an inside board member of 17 companies. He is an active member of many HR professional organizations. He recently served on the Board of Directors for HomeStretch and is an Angel investor in several Human Resources related ventures.
FlexHR
Flex HR, Inc. is among the top HR outsourcing and consulting firms, based out of the Atlanta, GA area. They were selected Best of Johns Creek Award in the Business Human Resources Consultantcategory by the Johns Creek Award Program last year, and this year was inducted into the Johns Creek Business Hall of Fame. The Atlanta Journal-Constitution awarded Flex HR “Best of Atlanta Business Profiles” while Outsourcing Gazette magazine listed Flex HR as the “Top Most Promising HR & Staffing Service Vendors.” For 3 years INC Magazine recognized Flex HR as an Inc 5000 “Fastest Growing Privately Held Companies in America”. Jim was also recognized by the North Fulton Chamber of Commerce as the “Small Businessperson of the Year.” Catalyst Magazine acknowledged Flex HR as 1 of 18 Companies CEO’s in Atlanta would like to own.
Visit our Coronavirus pandemic page or more information on how businesses are managing their HR assets during the continued consequences of COVID-19.
Do you need an HR Bootcamp for your business or more information? CONTACT US NOW
On March 23, 2020, the S&P 500 Index closed down 2.9% for the day, bringing its total loss from its all-time high to 33.9%. The index was in the midst of its fastest bear market ever. A day earlier, New York Governor Andrew Cuomo had ordered the statewide closure of all non-essential businesses in an effort to slow the spread of the COVID-19 virus, following California’s example and kickstarting a wave of similar lockdowns across states that would ultimately bring the unemployment rate to more than 14%. Although nobody knew it at the time, that day marked the low for the closely watched stock market barometer, and it began a V-shaped recovery. The S&P 500 eclipsed its previous high by mid-August and rose 60% from the March 23 bottom through its most recent high point on September 2.
Having a large allocation to technology and growth companies whose businesses have been more insulated from the negative impacts of the virus certainly has helped the S&P 500, however, all 11 sectors have gained at least 30% from the low. In addition, the Russell 2000 Index, which measures the performance of small-cap companies in the United States, was among the worst-hit during the February-March bear market, but it has actually outperformed the S&P 500 since the market bottom.
History tells us that the gains may not necessarily be over either. While the S&P 500 has already made new all-time highs this month, other key indexes remain well below all-time highs, potentially leaving plenty of room for upside if the economy continues to recover.
Perhaps most importantly, I do not view the recent pullback in stock prices as investors reassessing the durability of the recovery. Since September 2, credit spreads have remained contained, Treasury yields have held steady, and more economically sensitive areas of the market such as industrials, financials, and even real estate have outperformed large-cap growth and the information technology sector. This is the exact opposite of what we saw in February and March. Back in early April when we were just starting to rebound, I told you that based on some reasonable assumptions that I could see the market rebounding to around 3150. While we have seen a significant market decline in September, I am raising my year-end fair value target for the S&P 500 to 3,350-3,400, implying a little upside still to come through the remainder of 2020.
Integrated Financial Group
Kevin Garrett – Integrated Financial Group
My firm specializes in working with people that experience what we call “Sudden Income.” Typically the income came from one of these events:
1) Accessing and Managing Retirement Assets
2) A Performance Contract (Typically a Sports or Entertainment Contract)
3) Divorce Settlement
4) Inheritance or Insurance Payout
5) Sale of a Business or Stock Options
6) A Personal Injury Settlement
I believe the unique nature of these events requires specialized professional experience, empathy, and communication to deal with both the financial changes and the life changes that inevitably come with them.
My clients value my ability to simplify complex strategies into an actionable plan. They also appreciate that I am open, non-judging, and easy to talk to about their dreams and fears. Each client defines financial success differently and my goal is to guide them from where they are now to where they want to be. As my client’s advisor, my goal is to provide them with a lifetime income stream, improving returns, protecting their funds, and managing taxes.
Firm Specialties:
Retirement Planning For Business Owners & Executives
Woman’s Unique Financial Planning Needs
Professional Athletes
Investment/Asset Allocation Advice
Estate Planning
Risk Management
Strategic Planning
Kevin was listed in The Wall Street Journal as “One of the Financial Advisors In The Southeast That You Need To Know”
Kevin was listed in Forbes Magazine’s Annual Financial Edition as a Five Star Financial Advisor
Kevin has been awarded the Five Star Professional Wealth Manager in Atlanta Magazine in 2012, 2014, 2015, 2016, 2017,2018, and 2019.
Award based on 10 objective criteria associated with providing quality services to clients such as credentials, experience, and assets under management among other factors. Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers.
KEVIN GARRETT, AWMA, CFS
Integrated Financial Group
200 Ashford Center North, Ste. 400 | Atlanta, GA 30338
Have you gotten this phone call, regardless of where you are in your exit planning? During challenging, tumultuous times, this call comes from many corners. Some are legitimately interested, some are fishing, some are trying to take advantage. It may or may not be the right timing for your exit planning.
Over the last few months, we have heard from several business owners asking for help because they received “the call“.
When this question comes at you, it can be interesting, even exciting. How do you respond?
The best response is to ask for some basic information and let them know you will get back to them. Whether they say they are the potential buyer or representing the potential buyer, ask for their name, phone number, email address, and website. If you can’t get that, politely end the conversation. If they say they are representing another party, ask for the name of that person or company. They may not share this initially but ask. Getting some basic information will help you do some digging. It may be something like “I have buyers that are interested in your business.” If you hear that, consider ending the conversation! In any case, do NOT share any information, financial or otherwise, on this first call. Step back and consider your exit plan.
Even if they are legitimate, remember that they are representing the seller. This is a complex transaction, probably the most complicated one you will ever consider. It will impact your life, retirement, family, and employees for the long-term. Succession planning takes some time.
As I discussed in my last blog (Sell My Business Now? Wait for the Economy?), you need to consider so many factors when deciding if this is the right time for you to sell. It may very well be. Even then, you need experienced professionals who provide transaction services to help guide you through this most important decision and avoid the expensive pitfalls of trying to go it alone.
If you are ready to sell, get professional representation to help manage the process. A business sale is always complicated, even more so under current conditions. If you are not ready yet, start with an estimate of value and some advice on preparing your exit plan – whether your target is one year or 10 years. If you do have time, focus on getting through COVID-19 and building business value: Rebuilding Post-Crisis.
Call if we can help you think through your specific situation. Always happy to have a conversation to provide some guidance!
Stay Healthy & Safe!
David Shavzin
David Shavzin, CMC Exit Strategist – Value Growth, Exit Planning, Succession Planning, Transactions
Yes, for most businesses, this is probably the toughest year over the last few decades. The recession 12 years ago was devastating but 2020 has been a catastrophe in many more ways.
Coming up with an exit plan is more important than ever.
“Should I sell my business now?” We have been fielding this question almost daily since COVID-19 started. In good times it seems that we field that question a bit less. Generally, that should be the reverse. Like with the stock market, business owners too often ride the wave up and assume it will keep rising until they reach the exact moment – and value – that they want. That isn’t going to happen for the vast majority.
Of course, the answer at any given moment depends on so many factors:
Perhaps most importantly the state – and transferrable VALUE – of your Business
Should I sell? Should I wait? When? Price? The answers are different for every one of you reading this article. Our current clients (mid-COVID) range from $0 in revenue to having their best year ever. What is the same for every business, however, is the series of questions and considerations for designing an exit plan.
If the value of your business is down during COVID-19, but still reasonable for your needs, consider selling. Get over the emotion of it being worth more at the beginning of 2020 and don’t gamble on the future. If you cannot jump out at the current value, get hyper-focused now on comprehensive, realistic exit planning. Call if we can help you think through your specific situation.
Whatever your situation, these 5 Action Items Apply:
Get absolute clarity from your CPA or tax advisor and HR consultant on your obligations regarding employment laws under COVID-19 and loan uses / forgiveness. Do what you need to do to have your 2020 financial statements in order shortly after December 31st.
Request an estimate of value based on your best forecast for 2020. This is not an exact science (it never is) but a mid-COVID estimate will give you a baseline for decision-making. Get this done now, you can quickly update it when your numbers are final.
Set out a preliminary goal (target date and value) for the sale of your business.
Design a plan to get from today’s value to your target value by your exit date. Your exit planning should consider: What is working, what needs work, how to get creative…in these 8 areas:
Are you affiliated with educational and professional associations? This includes colleges and their related fraternities and sororities, as well as our state and national professional organizations. These organizations promote our success, past, and future. We continue our affiliated out of gratitude and, in some cases, for the continuing professional and personal opportunities they provide.
Our better natures compel us to “give back” to those who help us achieve the success we enjoy today. Typically, we can give our own time and our money. However, occasionally we are called on to “solicit” support from other people. Many of us heed the call, but few of us actually like asking for donations.
What if there were a solution that could raise SIGNIFICANT DONATIONS, not just on a single fund-raising drive, but year-round? And, what if that solution was “free” to the association and the donor? This solution exists and can be realized through engaging Retail Benefits, Inc. as part of your fundraising strategy.
Associations that regularly communicate to 10,000 or more people are great candidates for Retail Benefits. This includes most colleges, universities, and their affiliated fraternities and sororities. When Retail Benefits cashback shopping is engaged as an element of fundraising, the following advantages will be realized:
Year-Round Fund Raising – Cashback giving is automatic and on-going. Once the donor signs up and downloads the shopping app, everything happens automatically.
No out-of-pocket expense for donors – Cashback donations are from the money that has always been spent shopping. Therefore, no new donor expenditures are required
Reduce/Eliminate the cost of membership – Association can apply cashback to reduce or eliminate dues making it easier for members to join and/or stay affiliated
Drive engagement – A portion of cashback can be directed to the donor as “donor bucks” to purchase special offers and merchandise (such as hats, shirts, pins, etc.)
Designated donations to multiple purposes – Donations can be subdivided to support annual dues, the building fund, and/or special causes
Messaging – Communicate directly to participants via the app on association business
To learn more about cashback shopping and its potential for your association, contact Philip A. Davis at pdavishr@comcast.net or 678-977-5578.
Is it possible for Target to make money from purchases made on-line at Walmart? The astounding answer is YES!
Four Thousand plus (4,000+) on-line retailers offer cashback to shoppers to entice purchases through their websites, including Target and Walmart. If your online store is a cashback provider, there is now a way to make money on purchases made at all the other online retailers offering cashback. Your store makes money on every purchase from all other participating retailers AND in the process creates an incentive for future purchases at your store.
How It Works?
In our Target example, this giant retailer could offer its on-line shoppers the “Target Cash Back Shopping App” with the headline, “Earn cashback from all your online purchases at Target and all other participating retailers, and leverage it for great buys at Target.” Using this approach, the cashback from purchases made at Target and all other retailers is held for future on-line purchases at Target.
Key Advantages?
A retailer that adopts the “cashback shopping app” will realize the following advantages:
Grow revenue – Retain a portion of shopper cashback to enhance profitability
Earn money – Every time your customers shop on-line with other retailers
Gather competitive information
Know what and when shoppers are buying at other retailers, and
How much they are spending by item and in total
Craft offerings – Based on shopper and competitive insights
Message – Communicate directly to shoppers via the app on special offers, etc.
Next Steps?
Every Retailer has unique branding and messaging. My firm works with your marketing and IT professionals to customize our app to the look and feel of your online presence. The app itself is built for an easy download on to your shopper’s mobile and desktop devices. The Retailer provides advertising to entice shoppers to join the program. Money is earned when on-line purchases are made through the app.
Phillip Davis
To learn more about the cash back shopping app. and the business opportunity it represents, contact Philip A. Davis at pdavishr@comcast.net or 678-977-5578.
Late last week the government reported that the U.S. economy created 1.763 million new jobs last month. The expectations had been for 1.48 million. It’s good to see the numbers going in the right direction.
These are huge gains in employment, but it comes after even larger losses. To be sure, the economy is a long way from where it was just six months ago. The unemployment rate is down to 10.2%. We’ve had recessions that peaked with lower unemployment rates. The number of unemployed people dropped by 1.4 million to 16.3 million. The labor-force participation rate is 61.4%, which isn’t as bad as I had expected.
Let’s look at leisure and hospitality, which is a crucial sector for the economy. Leisure and hospitality added 592,000 jobs in July. In May and June, the sector added 3.4 million jobs. That sounds impressive, but leisure and hospitality lost over 8.3 million jobs in March and April.
We had more good news for the jobs market on Thursday, when the jobless-claims report finally fell below one million. The number of folks filing for jobless benefits fell to 963,000. That’s the first time in 20 weeks it came in under one million. Economists had been expecting 1.1 million.
While the jobs market is better, there’s still a long, long way to go. We also saw strong CPI numbers, which surprised me a bit as the increases were the largest in years. Something to continue to watch.
We’re also seeing another move towards cyclical stocks. By this, I mean stocks whose fortunes are closely tied to the broader economy. When cyclicals do well, that’s often though, not always an early sign of an improving economy. Perhaps Wall Street is sensing that the economy will reopen sooner than expected.
An Important Message For Parents Of College-Aged Kids
For those of you like me who are sending their children back to college, there is an important step to take now more than ever as we live through this health crisis and want to protect our kids as much as possible even as they are moving away to a college campus.
For my readers in Georgia, the law states that a person who is 18-years or older is considered an adult. At this point, parents cannot legally access their medical or financial matters. To help make sure that parents can continue protecting their children while they’re away at college, it is a good idea to create two essential estate planning documents: a financial power of attorney and an advance directive for health care. For my readers in other states and other countries, it would be wise to check your state’s laws.
Financial Power of Attorney
A financial power of attorney is someone who is legally authorized to act on another person’s behalf. A financial power of attorney can help with money, real estate, or legal matters. If the student gets sick or becomes incapacitated, the parent with the financial power of attorney can make sure that any bills are paid, and any legal issues are handled appropriately.
If a student becomes incapacitated and they have not named a financial power of attorney, the court will likely appoint a guardian or a conservator to help with any financial or legal issues. That court-appointed individual may not necessarily be the student’s parent.
Advance Directive for Health Care
An advance directive for health care is a legal document in which a person lists their health care and treatment preferences. It puts their doctors on notice about medical decisions if they are otherwise able to communicate those wishes due to an injury or illness. Within the advance directive, a person can designate their medical power of attorney. If a college student designates their mother or father as their medical power of attorney, that parent can speak to their child’s doctor, look at any health care records, and make decisions about their child’s medical treatment.
If a student gets hurt or seriously ill without having an advance directive in place, there could be delays in making urgent health care decisions. If the parent is not named the medical power of attorney, he or she might have to petition the court in order to act on their child’s behalf.
While I don’t practice law, I have a great group of legal experts in my network to help answer your questions. If you want to discuss this further, feel free to contact me and I will do my best to help!
Kevin Garrett – Integrated Financial Group
My firm specializes in working with people that experience what we call “Sudden Income.” Typically the income came from one of these events:
1) Accessing and Managing Retirement Assets
2) A Performance Contract (Typically a Sports or Entertainment Contract)
3) Divorce Settlement
4) Inheritance or Insurance Payout
5) Sale of a Business or Stock Options
6) A Personal Injury Settlement
I believe the unique nature of these events requires specialized professional experience, empathy, and communication to deal with both the financial changes and the life changes that inevitably come with them.
My clients value my ability to simplify complex strategies into an actionable plan. They also appreciate that I am open, non-judging and easy to talk to about their dreams and fears. Each client defines financial success differently and my goal is to guide them from where they are now to where they want to be. As my client’s advisor, my goal is to provide them with a lifetime income stream, improving returns, protecting their funds and managing taxes.
Firm Specialties:
Retirement Planning For Business Owners & Executives
Woman’s Unique Financial Planning Needs
Professional Athletes
Investment/Asset Allocation Advice
Estate Planning
Risk Management
Strategic Planning
Kevin was listed in The Wall Street Journal as “One of the Financial Advisors In The Southeast That You Need To Know”
Kevin was listed in Forbes Magazine’s Annual Financial Edition as a Five Star Financial Advisor
Kevin has been awarded the FIVE Star Professional Wealth Manager in in Atlanta Magazine in 2012, 2014, 2015, 2016, 2017,2018 and 2019.
Award based on 10 objective criteria associated with providing quality services to clients such as credentials, experience, and assets under management among other factors. Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers.
KEVIN GARRETT, AWMA, CFS
Integrated Financial Group
200 Ashford Center North, Ste. 400 | Atlanta, GA 30338
Longtime community leader brings four decades of management experience, including in the hospitality industry.
Barry Flink
Barry Flink, executive vice president and partner of Flex HR, Inc., has been named to the advisory board of Departures Magazine. The publication is a source for high-end travel, restaurants, hotels, and fashion, shopping, art, and culture.
Flink has 40 years of management experience in multiple industries. His favorite jobs have always been in the hospitality industry. He has held senior-level management positions in Westin Hotels & Resorts, InterContinental Hotels, Service America Corporation, the Greyhound Corporation, and the Peasant Restaurants, Inc., based in Atlanta. He began his career in the hospitality industry as the Hyatt Hotel Corporation’s first national management trainee.
Flink is also an executive in residence at Kennesaw State University and has served on the board of directors of Georgia Tech’s College of Management as well as KSU’s Coles College of Business. He has also served on the President’s Advisory Board of Oglethorpe University.
He has been a visiting lecturer at Cornell University, Washington State University, Florida State University, Georgia Tech, Georgia State University, Emory University, and the University of Guelph and Ryerson University in Canada. He also wrote a chapter for a college textbook, “Business Acumen II.”
Flink was board chair of the Edge Connection and has served on the Small Business Council of the Metro Atlanta Chamber of Commerce, the board of directors of the American-Israel Chamber of Commerce, and an advisory board of Saint Joseph’s Hospital.
Ron Weinstock of Weinstock Marketing and ITB Partners lands New Client, Disinfect Group.
Disinfect Group USA, offers a variety of systems to allow retailers, offices, venues to reopen safely. Total flexibility of units depending on the size needed. All manufacturing is in the USA. Disinfect Group USA’s product has the ability to:
Disinfect people and their belongings safely – 99.9999% effective
Take thermal temperatures
Count capacity in/out
On product branding
Offer LED sponsorship opportunities
Disinfect Group – Sanitation Tunnels
SANITIZING TUNNELS
Dry Fog is an innovative new product that creates an invisible “haze” in our tunnels which are completely safe and approved for use on humans against viruses and bacteria. It works using electrolyzed water technology.
Available with 1 to 5 tunnels and comes as a fogger or a misting sprayer.
SANITIZING FOG
Each visitor and worker pass through a completely safe dry fog before
gaining access to your facility.
THERMAL IMAGING SCANNER
Screens for elevated body temperature at a safe distance for employees and guests entering your facility. Alerts staff when a high temperature is detected.
DIGITAL CAPACITY COUNTER
Add a Body counting camera that helps you know exactly how many people are in your venue or facility at all times.
NO-TOUCH SANITIZER DISPENSER
Automatic hand sanitizer dispensers allow everyone to disinfect their hands helping stop the spread of viruses.
STAY CLEAN. STAY SAFE. RETURN TO WORK.
Contact Ron Weinstock for more information.
(310) 663-7669 | ron@weinstockmarketing.com
Ronald D. Weinstock
Ron Weinstock is an experienced restaurant and retail industry executive, consultant, and entrepreneur.
Over thirty-plus years of successfully launching, building, and revitalizing national and regional brands have positioned Ron Weinstock as a business and marketing leader in industries that include restaurants, financial, health, entertainment, and retailing. Ron is a business and marketing executive with a proven track record and a passion for team building, which/that includes leading cohesive & purpose-driven teams that consistently deliver exceptional results.
