MainStreetChamber Mini-Mag, July 2013
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Transcript of MainStreetChamber Mini-Mag, July 2013
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6:30 MSC Overview & reCOGNitiON
6:50 SMaLL BuSiNeSS reSOurCeS
7:00 DOOr prizeS
7:15 SpeeD NetwOrkiNG
8:00 wrap-up
evening program
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Grant Sadler
Keep a positive attitude. No matter what challenges you face and you will face
challenges, stay positive. Grant Sadler
Attitude is a little thing that makes a big difference. Winston Churchill
For success, attitude is equally as important as ability. Walter Scott
Following the success at Quality Systems, Incorporated, (QSI), which went
public in 1982 and currently has a market cap of over one billion dollars, I
set out to try my hand at another business venture. In 1995, I decided that I
wanted to consolidate several large dental groups, put them together around
the country and create a “mega group.” In those days the largest group was two
dental practices worth a few million dollars, so I thought I would build 100
locations producing $200+ million in revenue. So I went back to two of the
larger dental groups in California that I knew and offered to buy their practice,
give them a bunch of cash for liquidity, offered the owners a job and to give
them stock in a company that would go public.
So I put this plan together and set out to find an investment bank to acquire the
funding. I met a young man at Dean Witter in the Newport Beach, California
office and asked him if he handled investment banking and he said “Kind of
…” and I told him that I wanted to take my company public and he said “Good,
tell me about your company.” I said, “Well it doesn’t exist yet, but here’s my
plan …” and he said “Well, that’s going to be very difficult. We are going to have
to create a company first and …,” and I said, “Yeah, I know, and when can we
start?” Then he said, “No, no, no, I don’t think we can do it. You got to back up
Keep a Positive Attitude!
COntInuEdOnnExtPagE
Grant Sadler, PresidentgrOuPManagEMEntSErvICES
and create the company, like you did with Quality Systems,” and I said, “Yeah,
yeah, I’m going to do that by consolidating these groups, and then boom we
will have a company.” The guy then said, “That’s awfully hard, that’s awfully
difficult…,” I said, “Yeah I know it is, can we start this afternoon?” He said,
“You’re not listening to me, hear what I’m saying …,” and I responded, “You
have some other people here that can help us work this out, you’ve got an
analyst here, let’s get your analyst together and we’ll start analyzing my plan.”
The banker said, “I don’t know that we can do this …”
Some kid was walking by and I grabbed him and asked “Are you an analyst?
Come in and give us a hand.” So I just kept on pushing and even as I walking
out the door that day, the banker was saying, “You’ve really thought this
through and you’ve got this real aggressive plan, but the company has to exist
first …,” my response was “Yeah I know, can we meet tomorrow at 9?” I just
kept that up and finally the whole Dean Witter’s Newport Beach Capital
Market Group came together and said, you really do have a good plan if you
could execute on this, it would be great, but we really need to start with
something. I told them that I needed about $30 Million and asked if they
had it. Their response was that they didn’t have it laying around in a drawer
somewhere, but they could put a private placement together to raise the
capital. I said, “Now we are talking, you guys finally heard me.”
Dean Witter was 100% on board because of my
implementing the PUSH Principle (Push Until
Something Positive Happens). We ended up going
to four venture capitalists groups who invested
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$21 Million and acquired an acquisitions credit facility loan for $10 million.
Now we had the money. Then to make things more difficult, the original
two dental group acquisition candidates backed out of the deal. That was a
dark day in my life; it rained all day that day in my mind.
I rallied five other dental groups and spent two weekends putting letters of
intent together and traveling all over the country to close this deal. Then
I called the lead venture capital partner in the investment on Super Bowl
Sunday, at half-time, her name was Kathy. I asked her if she was watching
the Super Bowl and if her team was winning, she said her team “was not
winning.” I told her that her other team was winning, her GMS team that
is. I then told her about the other two groups pulling out and how I’d
resolved the issue by bringing in five smaller groups that together made
an even larger consolidated group than the original two - then waited for
her reply. There was a pregnant pause and she said “You know what, that’s
probably even better because they are easier to deal with; those big guys
were kind of difficult.” We closed the deal and built that company into
$350 million in revenue in four years.
Deciding early on in the game that having anything other than a positive
attitude is not a part of your plan, will take you far on the road to success.
When the challenges come, remember the PUSH Principle (Push Until
Something Positive Happens)! Next month we will talk about Number
Four in my Take Away Points for Small Business Success, Develop a fearless
tenacity! Don’t let anything pull you off point. Until then - keep smilin’!
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continued
Keep a Positive Attitude!
Grant Sadler
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Bertrand McHenry
So here you area once again mid year, goals set, plans still in place,
still somewhat raring to go. Like thousands of other well meaning,
seemingly motivated entrepreneurs you have spent time setting
goals, aligning them with your most congruent values, given yourself
timelines, and made them all measurable…but didn’t you do all of
this last year? That’s right you forgot about that didn’t you? All
kidding aside (for a minute anyway)…let’s talk about why you you
find yourself at the half way point without reaching most if not all of
those goals.
We’ve been told most of our professional lives that setting goals is the
key and so we set goals before we ever take a step. The real issue is
that after we set the goals…we still don’t take that critical next step.
Look, let me remind you of one of the laws of physics we learned in
grade school…”An object at rest tends to stay at rest”. That’s right,
the missing ingredient is ACTION! Simple huh? Lack of execution is
where most of us fail. Actually it’s the simplest step to take because
all of the planning has been done and that’s the ironic part of this.
You set aside time to plan, brainstorm, inspect your values, and do all
of that major work and then you set that body of work on the shelf,
as if you’re done. Yep, you’ve set your goals and you feel some sort of
momentum and accomplishment…as if it’s going to magically take off.
The True Elixr of Life… Bold Action!
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BertrandMcHenryPresident/Owner
referralInstituteHouston
Please don’t be offended, I’ve been there many times! I’ve
been there so often that I have even experienced the major
disappointment from realizing I have allowed my goals to just
disappear, until... Until I discovered the value of simply taking
Insanely Bold Action as soon as I set a goal. It imprints Positive
Inertia into the DNA of the goal setting / accomplishing adventure.
Contrary to what seems intuitive for most of us….sitting, thinking
until we are blessed with clarity does not work. Clarity or
enlightenment around a goal or direction ONLY comes via action.
In fact, people who employ sitting and waiting as a trigger for
finding exactly the right direction or strategy get old doing so.
Conversely those who attack the present with the Bold Enthusiastic
Action of a 6 year old get more done sooner, remain positive,
resourceful and remain younger longer.
We are created to move, take action and accomplish which is hard
to do sitting and waiting for inspiration. So, it’s July, 2013 and I’m
sure you still have a great idea or at least one goal…what are you
waiting on? Run out the door NOW and take some Bold Massive
Action on it…and when you’re done expending all that effort you
can even skip the smoothie shop because you’ve
already been drinking the True Elixr!
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dirk CuMMinS
We all know that to be able to build a successful business, we must take
action. The question is … What Action?
Before we take action we need to know where we want to take our
business. Hmmm … sounds a lot like I have to go through the dreaded
goal setting exercise that has never makes me any money! Well you’re
half right! Most goal setting exercises don’t make you any money
because they are more philosophical than actionable. I have found a
way to set goals that is simple and actionable.
Set SMART goals; Specific, Measurable, Achievable, Relevant, and
Time-based. This system can be used for long term goals, short term
goals, as well as daily goals. Let’s take a look at how to use the SMART
system. By the way, this system does not cost you a dime.
1 year SMART GOAL
Step 1 » SPECIFIC: $200,000 in revenues
Step 2 » MEASURABLE: Yes
Step 3 » ACHIEVABLE: Yes, this 25% higher than last year
Step 4 » RELEVANT: Yes, this fits into my long term wealth building
Step 5 » TIME-BASED: Yes, 1 year
1 month SMART GOAL
Step 1 » SPECIFIC: $16,666 in revenues
Step 2 » MEASURABLE: Yes
Step 3 » ACHIEVABLE: Yes,
Action!
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Step 4 » RELEVANT: Yes, this fits into my one year goal
Step 5 » TIME-BASED: Yes, 1 month (20 days)
Daily SMART GOAL
Step 1 » SPECIFIC: $833 in revenues
Step 2 » MEASURABLE: Yes
Step 3 » ACHIEVABLE: Yes
Step 4 » RELEVANT: Yes, this fits my 1 month goal
Step 5 » TIME-BASED: Yes, daily
Here is how you chart your actionable items. In my business I
know I must reach out and touch 10 new people every day to
generate $833 per day.
Actions
Step 1 » SPECIFIC: 40 phone calls or 15 in-person visits
Step 2 » MEASURABLE: Yes
Step 3 » ACHIEVABLE: Yes, if I block the time and make it
priority number one
Step 4 » RELEVANT: Yes and absolutely must be done
Step 5 » TIME-BASED: Yes, TODAY
Have fun and get excited! You will accomplish your goals and make
your dreams come true.
dirkCummins, President of MainStreetChamber
Dirk is an advocate of the MainStreetChamber philosophy of “Give First and Expect Nothing In Return”. Dirk, a serial entrepreneur, reaches out to small businesses every day to help them grow their business by creating revenue where none existed before.
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MSC SUGARLAND
Rod “The Storyteller” White, President
(281) 673-7954
www.mainstreetchamber.org/chapters/sugarland
MSC HoUSToN
Russ Johns, President
(206) 930-7440
www.mainstreetchamber.org/chapters/houston
MSC HoUSToN BAy
Bertrand McHenry, President
(281) 401-9852
www.mainstreetchamber.org/chapters/houstonbay
