Pittsburgh Business Virgin
By Brad Hillbert
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Podcast Description
The Pittsburgh Business Virgin is a unique broadcast webshow featuring various business professionals from various walks of life sharing their experiences, triumphs and mistakes. By hosting the “Pittsburgh Business Virgin“, 3 Rivers Wealth Managment Group looks to provide insight for “Business Virgins” – those individuals who are interested in starting their own business for the first time – and seasoned buiness owners who are looking to take their business to the next level.
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CleanS2:EP9 – Bruce Freshwater, Sierra w/o Wires | Bruce Freshwater Sierra W/O Wires (www.sierraexperts.com) SEGMENT 1: Starting Up Senior level IT company started in 2003 – re-launched 2006. 32 states and 4 coutries. The IT company for IT companies. Started out in the Airforce, learning technologies. Began Freshwater Design, also owned Innovations Tech and then sold it to start Sierra Without Wires. Funding: All back pocket funding for Sierra. Tried bank funding for Innovations Tech in 2001, usually they are looking for being in the business for at least 6 months. Watch your finances, make sure you are billing customers correctly and that you have an accountant that is running your books correctly. Tracking system – designed inhouse – so we know exactly the steps each customer takes within the business. From the sales cycle, to service, to accounting. Allows review of processes and a customer experience. Hiring Employees: Monitor staff productivity. We are looking at 75%-85% productivity on our employees, to insure when there emergency situations we are prepared to handle it. When we see productivity levels going to 95%-100% or above we know it’s time to expand our staff. Keeping productivity at the 75/80% allow us to manage overtime and use our staff the most efficiently and effectively. SEGMENT 2: Advice and Surprises Understand the business model and changes – changes in marketing, targeting, adding staff, rebranding and monitoring are continuous. Market dictates some of business model and necessary changes. Competitors name themselves and their services in specific terminology, and we may need to adjust our branding to insure we are separating ourselves and the specificity of our services and products. Growing pains in product development – dealing with regulatory and compliance and understanding completely the customers end goal and figuring out a more efficient process to get there. Development team is growing and projects are getting bigger. What advice would you give to a new business owner who is reluctant to change their business model: “Just because you are ahead of the curve, doesn’t mean you have to run faster.” SEGMENT 3: Marketing & Growth Being proactive in recommending solutions. Many customer problems are repetitive across customers so that allows us to be more proactive. Referrals from existing customers are vital. Social Media: 2012 PA Technology Company of the year. Posting things like that on Facebook. Referrals help us to decrease our sales and marketing cycle. We utilize professional sports tickets to thank current clients for referrals. Projecting a 15% increase in revenue per year. 70-80% increase in revenue, through today. “Senior Level” – means CEO, CFO, CIO – we are not there to replace people in the IT departments, we are there to provide support to them and make their job easier. We are not there for day to day maintenance, we help to redesign systems. Make sure to identify a business model and stick to it. Don’t diversify too much – stick to what you are good at. If you bring in a business partner agrees with your business model and is willing to follow it. CONTACT OUR GUEST: (412) 722-0707 http://www.sierraexperts.com Sierra w/o Wires is a Pittsburgh-based Information Technology services provider specializing in remote systems monitoring, remote management, hosting and software development. Sierra is honored to be awarded 2012 Pennsylvania Technology Company of the Year – offering expertise to the industry. | 5/21/12 | Free | View In iTunes |
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CleanS2:EP8 – Denise DeSimone, C-Leveled | Denise DeSimone CEO C-Leveled (www.c-leveled.com) SEGMENT 1: Starting Up Denise’s Background – C-Leveled, is the 8th business Denise has started. - Mostly in the technology field. - Same principles to starting a business apply, regardless of the industry. What made you want to be a business owner, vs. a 9-5 employee? - Challenge - Market Opportunity - Being able to build and grow something from zero- finished What made you come to a conclusion with each business and start new? · Don’t ever start a business without knowing I am going to sell it SEGMENT 2: Merging Challenges Attributes to have in place on day one of opening your business – Getting Your First Million: - Have a written plan – business plan, marketing plan - Competitor Analysis - Break down your revenue per transaction – really understand how many customers do I need to sell, in what timeframe? - Don’t be overly optimistic, be realistic. - Have a sales strategy that includes networking, direct sales, cold calling – know what your sales strategy before starting Keys to Getting to the First Million: - Plan, Systems and Process - Consistency - Good Core Culture that everyone is a part of • Hire the Right People • Don’t Hire People That Are Just Going to Agree With You • Realize You Will Learn A Lot From Failure • Have a Collaborative Environment – It Engages People • Don’t Bring People On Board That Are Not In Line With Your Vision SEGMENT 3: Marketing & Growth - Legacy For Denise – It Is Meaningful - Core & Focus – To Help Start Ups and Small Business Owners within the community - Easy to make money when you have money, what is really tough are the first few dollars. - C-leveled helps smaller companies get their start • Team of people that are experts in their particular field • Cheaper than having to hire all of the experts individually or loosing Portal: - Gives starts up grant money, funded by the portal - Portal is designed to help a business from start up to exit • Can pull metrics on how your business is doing against your competitors in Pittsburgh • Can include size of your business and how long you’ve been in business • Helps you define where you are vs. your goals. • Virtual Coaching for Small Business Owners to help them navigate the land mines • How to engage C-Leveled, initial phone evaluation – will direct you to the right person at C-Leveled www.c-leveled.com CONTACT OUR GUEST: (412) 980-8875 http://www.c-leveled.com Passionate about helping small businesses to grow and profit. We help to benchmark a company's performance, lay out a strategy for improvement and track progress towards reaching their goals. At our business portal, businesses join a community, network with peers, blog, and access Knowledge Center. | 3/20/12 | Free | View In iTunes |
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CleanS2:EP7 – CJ Patrick, Quest Fore | CJ Patrick Owner Quest Fore (www.questfore.com) SEGMENT 1: Starting Up Started Own Company – Blue Fox Development, services marketing companies that needed more in depth web development technology work Joint Venture – between Blue Fox and Quest Fore Strategic Marketing. Quest Fore has been in business for 36 years. - Started with 3 people in 2010 and up to 48 employees in 2012 Difficulties: - When running a smaller company, there is not as much need for processes and you can be more adaptive and quickly responsive - Merging into a larger company, you need to take into account a previous culture and new processes, need to consider how decisions effect overall company - With smaller company decisions could be made on the spot looking at all the information, with a larger organization more factors need to be considered - Need to be cognizant of the different types of people you are working with – more technology minded vs. creative minded. SEGMENT 2: Merging Challenges If starting your own business, you need to find the product or service that people are looking for – there is already a need. - Surprises – there was a great need for web development, but I was wrong about who needed it. I thought I would be service customers directly, but I discovered that marketing firms were really the opportunity. They had the clients, but did not have the means to complete all the web development. - You can’t be an expert in everything, it is important to have a network of experts that you trust and can depend upon to get that type of work done. There are always a lot of competitors. One of our advantages is that we provide a full service of services to our customers – not just one piece of the business. We can design, implement and manage. We are small enough that we can do small pieces of business or all of their needs. Downside to merging with a bigger company? Actually got rid of some of the major hurdles of a new business. Being part of a bigger business gives you instant name recognition and customers more confidence you will remain in business in years to come. Finding the right partner is essential – you need to make sure you can work with the person you are merging with, you have the same vision and an effective means of communicating. SEGMENT 3: Marketing & Growth Absorbed a competitor who was closing. We found out that day. Interviewed 30 people in 3 hours on the day the company closed and hired 14 people. New employees came from a very different culture. Customers of old company were scrambling, was an opportunity to bring those customers over as well. Merged teams of new employees with current employees to try and get rid of the “us” vs “them” mentality. Best way for us to market is to get in front of someone. Getting the meeting and getting a front in the door - referrals, cold calling, banging on doors. Traditional media marketing is not effective for us as a marketing firm. We don’t advertise in traditional media because it has not produced results for us. We have an inside sales group that does our cold calling and introductions, second team goes to meetings to make the pitches and service existing clients. Very heavily commissioned based fee structure. Servicing clients – always be up front with clients, never surprise a client with a bill. One word that makes you different then your competitors: TRUST CONTACT OUR GUEST: (412) 697-4783 http://www.questfore.com Quest Fore is a strategic marketing firm located in Pittsburgh's Historic South Side with 36 years of serving Pittsburgh's largest companies across all industries. Quest Fore provides strategic marketing, graphic design, content creation, interactive development, video production and other services. | 3/5/12 | Free | View In iTunes |
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CleanS2:EP6 – Carol Briney, Work From Home | Carol A. Briney Owner Work From Home (www.carolbrineyworkfromhome.com) SEGMENT 1: Segment 1: Selecting a Home Based Business - Reliable Residual Income: how to get it. - Started out in corporate world and was downsized, wasn’t going to give someone that kind of power over my life. - Had a very successful catering company that took over my life. - Became a public speaker which also took over my life - Wanted a home based business, I got in like a lot of other people, I got in to a business on emotion. • Product was recommended by a physician, dad had a great experience • Very successful, top in Pittsburgh Area, but wasn’t making any money • Found out other people where getting hurt financially so left the company - Defined a new set of criteria of what you should look for when selecting a home based business - Free Ebook on web site that defines the criteria • What do you want from the company? - Do you want to just be around positive people? Do you want to sell products – in direct sales” - Do you want Reliable Residual Income or are you okay with not reliable income? • How long as the company been in business? Prelaunch, brand new – words to be weary of. Most multi-level marketing businesses fail, not because their products are not good, but because they are underfunded or understaffed. - Find out what their financials are? Are they debt free? That is very important! SEGMENT 2: Segment 2: More Criteria Criteria Continued: o Does the company have a unique product that is competitively priced? Many companies have great products that are great but not priced right. o How much inventory do you have to have on hand? Some companies have required minimum inventory that changes frequently. o Where did management come from? Did they come from Fortune 500 companies or other home based businesses? Look for someone with corporate experience. o Are you selling something that people really need and that is consumable? What is the reorder rate – MOST IMPORTANT for reliable residual income. o Who purchases the product? Most companies it is the person who is trying to make a living who is required to purchase products. If you have to purchase directly the majority of your product, RUN the other way. You should look for a company where the end user is purchasing at least 90% of the product, not you. o Look at the compensation plan. If it is confusing and your need a genius to figure out. - Run away from “Breakaway” Plans – as a salesman you work for a company and you have a quota. You meet the quota and then they place another salesman in your company and raise your quota. - If you don’t understand it, figure it out before you commit. o What is your buy in to get started? Is there a fee for you to just have the ability to promote the company? If so, you need to ask where the money is going. Promotional volume is not reliable residual income. The day your group stops enrolling people, is the day you stop making money. o Look at the growth of the company in the US. If they are not growing in the US, it means they are burning bridges in the US, RUN the other way. o Look at the attrition rate. Some companies have 90% attrition rate. Ask what it is, high attrition means something is wrong. o Reorder rate is key. The higher the better. o How much do you have to spend to get a paycheck? Some companies you need to sell $200-$400 to get a $7 paycheck. Make sure you understand how much you will have to spend or sell to get a paycheck. SEGMENT 3: Segment 3: Once You Select A Business How Do You Grow It & Make It Successful · If you found the right company, you need to be of service to your potential companies. If people enroll just to make you quiet, that’s not what you want. You want to be able to define what your company can do for each individual client. · Networking is key. · “Lifestyling” – always be listening to what people are saying and try and determine what they need. | 2/13/12 | Free | View In iTunes |
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CleanS2:EP5 – Atlantic Territories | Marc Schein Owner Atlantic Territories, LLC. (www.atlanticterritories.com) SEGMENT 1: Starting Up · Started in the Real Estate business, working for a local development firm. -We dictated terms to our clients, felt they were being underserved · Used downturn in the economy as an opportunity to start a business - Sounds counterproductive, but as the business slowed, it presented opportunity to spend more time starting own business · Took all the knowledge I learned as an employee to help tenants negotiate better leases · Long Process – getting Brokers License, dealing with the state and education requirements. If you have experience in the business it is easier. - Develop a business plan - Who did I want to help - 1-2 year process · Resources – commercial real estate is dominated by big firms in the Pittsburgh Market, even though competitors, we have a working relationship. - 8-10 years of experience was very helpful · Not a lot I would do differently starting out – before my business when I purchased real estate myself, I made a ton of mistakes. Those experiences helped me not make mistakes when I started my business · Know your industry. Be an expert before you start. · Be true to yourself. The biggest thing is to be good at what you do. What I wasn’t the best at is marketing. Every business owner is a salesman and a marketer. If you can’t market yourself, you can’t sell your product or your business. SEGMENT 2: Advice & Surprises · Advice to people starting their own business – Marketing. Have to decide how you are going to find your clients, especially in a small city like Pittsburgh where everyone know one another. You have to decide how to break “The Good Old Boys” network. · How do you market – cold calling, networking, referrals. Participate in things that will allow you to show how good you are at your business. For example I am on the zoning commission. Teach a class, host a seminar…do something that will allow you to show your skills. Serves a two-fold purpose, help your community and help your business. · A difficult thing to master is knowing when to turn a relationship from providing information to a sale from your business. SEGMENT 3: Marketing & Growth · How do you compete with the big firms in your industry, what separate you: Big firms are very good at what they do however Atlantic Territories is a strictly tenant representative firms. The bigger firms generate most of their revenue from landlords, so their allegiance lies more with the landlord then the tenant. Atlantic Territories centers their services on tenants so there is no conflict of interest. Personalized service is key. · Retain customer relationships given sales cycle is typically longer in this industry is important. A.T. maintains relationships with their clients throughout the entire time they hold the lease and will help in managing important dates and actions within the contract. If tenants have difficulties with landlords A.T. can be the intermediary between the tenant and landlord. · Growth for is determined by how much you want to invest in your business and how many more people do you need. The most important thing is hiring the right people. CONTACT OUR GUEST: 71 McMurray Road Suite 201 Pittsburgh, PA 15241 (412) 595-8047 http://www.atlanticterritories.com Atlantic Territories provides full service commercial real estate brokerage specializing in Tenant and Buyer Representation. We advocate for businesses and individuals interested in purchasing or leasing commercial real estate. | 1/23/12 | Free | View In iTunes |
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CleanS2:EP4 – Kevin Hickey, Online Stores, Inc. | Kevin Hickey Owner Online Stores, Inc. (www.onlinestores.com) SEGMENT 1: Starting Up SEGMENT 2: Advice & Surprises SEGMENT 3: Marketing & Growth CONTACT OUR GUEST: Online Stores, Inc. 1000 Westinghouse Dr., Suite 1 New Stanton, PA 15672 (877) 734-2458 http://www.onlinestores.com Niche online retailer selling flags, tea, British food, construction clothing, work boots, safety equipment and promotional products. | 1/4/12 | Free | View In iTunes |
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CleanS2:EP3 – Jason Saunders, Metal Photo Services, Inc. | Jason Saunders Owner Metal Photo Services, Inc. (www.mtlphoto.com) SEGMENT 1: Starting Up VIRGIN BUSINESS LISTENING POINTS: - Taking over someone else’s business: o Started out in the industry and gained experience. o Worked for the company as an employee, running the presses o Became the 3rd Owner – 2nd owner owned it for 20 years before selling it, worked together for 14 years. o Previous owner worked to educate about how to run the business, meeting the customers, etc. - How did you go from 9-5, to being a business owner? o Expressed an interest to current owner of purchasing business o Worked out an agreement to owner finance purchase of the business; worst case scenario, he gets the business back if payments cannot be made - One drawback or something you would change to purchasing business. o Bankers and loan officers were difficult – process took much longer than anticipated, almost a year. o Had to go to many different banks to get loan approved. o Even though established business, bankers look at it like you are a start up business. - What is Metal Photo Processing? o Printing anything on a metal surface – plaques, awards, industrial tags, Holiday Photo Ornaments. SEGMENT 2: Advice & Surprises VIRGIN BUSINESS LISTENING POINTS: - Form a good team of professionals o Accountant, Banker, Attorney – to serve as an advisory board o Have a mentor o Find your own team, don’t necessarily keep the same advisory board as previous owner o Find professionals that fit your needs and has a mutual timeframe - Biggest Surprises o Name of Businesses did not say what they did; Name had brand recognition after 54 years, did not want to change o Had to get out there, tell people what we do and who we are – get out and join the local chambers o Don’t be bashful – you have to take chances and accept invitations o Going from co-worker to boss – relationships change with employees SEGMENT 3: Marketing & Growth VIRGIN BUSINESS LISTENING POINTS: - Growth & Retention o Have not lost a client since taking over the business § Was involved with the business and clients before you take over o Growth has been tremendous § Networking and Web presence o Printing is centralized and a lot of competition – have to fight tooth and nail to get business o Metal Printing – niche market . Only one of 150 companies in the US that does it. Business is international. o Business to Business currently. Moving toward opening consumer side. Starting with Christmas ornaments with photos. CONTACT OUR GUEST: Metal Photo Services, Inc. 465 Wall Avenue Wall, PA 15148 Phone: 412-829-2992 Metal Photo Service is a full service printing company. MPS can print your business cards, letterhead, brochures, etc. MPS also does imaging on metal for plaques, awards and industrial tags. MPS does business all across the US as well as internationally. We pride ourselves on quality and service. | 12/12/11 | Free | View In iTunes |
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CleanS2:EP2 – Christopher Evans, True Fit | Christopher Evans Vice President True Fit Solutions (www.truefitsolutions.com) SEGMENT 1: Starting Out Entrepreneur – Taking A New Idea To Market VIRGIN BUSINESS LISTENING POINTS: o Starts with the Team. What are their skills? Do the... | 11/28/11 | Free | View In iTunes |
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CleanS2:EP1 – Ted Ford, Knepper Press | Ted Ford CEO Knepper Press (www.knepperpress.com) SEGMENT 1: (Starting out as an Entrepreneur, Challenges in Starting Out) VIRGIN BUSINESS LISTENING POINTS: • Transition a business – Knepper transitioned from a newspaper printing company to a multi-dimensional full print company • Ted Ford, CEO – 20 years at Knepper Press • Major Hurdle – One customer was half of the business. Presents a very dangerous situation, you lose one customer you lose half your business. Partners worked very hard to build customer base so no customer makes up more than 6% of revenue source. Diversify among, size, region, even distributing among salesman. • Expanding Employee Base – Knepper Press went from 20 employees to over 200. How did they do it? One step at a time. Build the customer base, build the infrastructure to support it, hire employees to maximize the use and efficiency. • Going from an employee of a large organization to running a small organization – there is a transition period. There is less support staff, go from wearing one hat to many SEGMENT 2: (Marketing & Growth) VIRGIN BUSINESS LISTENING POINTS: • Marketing – Use a combination of different things with cross media marketing campaign. Example of how Knepper Press markets their services using new technologies: - Week 1: Send out a direct mail postcard to entire mailing list with a PURL, customer responds to a small survey regarding a new product offer and have a chance to win an IPad, captures information - Week 2: A week later a follow up email is sent with same graphics and types of information - week 3: Send a newsletter regarding the same topic. New technology. - We have a 20% response rate with cross media campaign using multiple touches. Nice to be able to support the sales staff with • Find something that sets your apart – Knepper Press is ranked #1 in PA for using alternative energy, wind power. Use your differentiator in marketing pieces. • Retain your profits and reinvest in the company. Always have the latest technology – equipment, software and people training. Be a leader in your field. • Internet presence is so important, make sure use interface is easy to use. SEGMENT 3: (What Advice Would You Give Someone Leaving Corporate America to Become and Entrepreneur) VIRGIN BUSINESS LISTENING POINTS: • Be sure you have a nest egg of 2-3 years. • It will take longer than you think to produce the income you project. • Be financially conservative in your planning and execution of your business plan. • Advice on working with a friend. - Unique situation, lifelong friends, different interests. Underlying level of trust – there was never an issue of trust. If you cannot trust you partner implicitly if will not work. - Make sure your attributes compliment one another. One person is more mechanical & machinery and one person is marketing and sales based, but are still on the same page with direction of the company, strategy and decisions. • How do you keep good people – people want to be on a winning team. Treat people right. Communication is solid and honest. Reinvesting in the business helps retain people. You have to “be in there with them”- not just directing, doing. • What about the current economy worries you as a business owner – where will demand be next year? We spend a lot more time assuring that we are making the right decisions, that we are continually selling and finding new customers. You can’t “freeze up”. CONTACT OUR GUEST: Knepper Press 2251 Sweeney Drive Clinton, PA 15026 Phone: 724.899.4200 Commercial Printing, Catalogs, Magazines Direct Mailing Years in Business: 138 | 11/14/11 | Free | View In iTunes |
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CleanS1:E13 – Shea Murtaugh, Hoffmann Murtaugh | Shea Murtaugh President Hoffmann Murtaugh (www.hoffmannmurtaugh.com) VIRGIN BUSINESS LISTENING POINTS: • Put feelers out for new clients before opening your business • networking and referrals are extremely important • Have experience before you venture out on your own SEGMENT 1: SEGMENT 2: SEGMENT 3: SEGMENT 4: SEGMENT 5: RECIPE CONTACT OUR GUEST: Hoffmann Murtaugh Media in the Right Place at the Right Time. Phone: 412-458-0471 Email: info@hoffmannmurtaugh.com Shea has over 15 years of experience buying and selling media nationwide. A 1994 Duquesne University graduate, she majored in advertising with a minor in psychology. She sharpened her professional skills by selling advertisements for a local magazine and Gateway Newspapers, now owned by Trib Media. Later, Shea broke into radio media as an account executive at Clear Channel Radio, where she had tremendous success at achieving targeted results for her direct clients. With her diverse portfolio and media expertise in hand, Shea struck out on her own and launched Hoffmann Murtaugh Advertising in 2004. Today, this business venture has grown into one of the leading media buying agencies in the region. As president, Shea oversees the company’s day-to-day operations as well as developing its strategic direction and expanding its customer base. She is also the company’s lead Media Buyer. Born and raised in the Pittsburgh area, Shea remains connected to her region and greatly enjoys giving back to the community. She has been a board member for the Education Committee of the Media Association of Pittsburgh. As a current member of the Communications Board of the Pittsburgh Airport Area Chamber of Commerce, Shea is also serving on its 2009 Wine & Dine Event committee. Through her efforts as a team captain for the Pittsburgh Leukemia and Lymphoma Society's 2008 Light the Night Walk, Hoffmann Murtaugh was in the Top 20 Teams to raise money. Shea is now on the Executive Committee for the 2009 Light the Night Walk. In the fall of 2009, Shea will be on the planning committee for the 2010 Heart Ball. The Heart Ball is in its 21st year. In addition to providing an exciting night of glitz and glamour, the Heart Ball has become the Allegheny Division’s largest fundraising event. | 7/10/11 | Free | View In iTunes |
| Total: 10 Episodes |
