From submitted press releases Here’s a look at promotions, hirings, movers and newsmakers in the Memphis area business scene : Paula Jacobson has joined Trezevant as the senior living community’s interim executive director of the Trezevant Foundation. She has served the Memphis community in various fundraising and leadership roles, most recently as president of the Methodist Healthcare Foundation. She has been a member of the Trezevant Foundation board. Youth Villages recently announced the addition of Jamere Jackson to its national board of directors. He is currently the chief financial officer at AutoZone, which he joined in September 2020 becoming the first African American CFO in the company’s 41-year existence. Sugar Services , a manufacturer of top-quality sugar products in the South, announced David Turman as the new director of operations and Mathilde Crosby as the new chief financial officer. Turman will oversee the facility and operations in Downtown Memphis that manufacture and deliver sugar products within a 400-mile radius of Memphis and Houston, Texas. Crosby will direct and oversee the financial activities. Turman brings more than 20 years of production management experience to his new role, having previously worked with Smith & Nephew, The Hershey Company and Newly Weds […]

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P-MAINE MAKERS LOVELINE BASKETS_frame_7245.jpeg BOWDOINHAM (WGME) — A couple in Bowdoinham is creating hand-crafted baskets of high-quality rope and thread, hoping to offer a durable product and spread some love. "It is such a passion for me and now it’s my way to send this extra love that I have out into the universe, one basket at a time," says founder and co-owner Gallit Cavendish. Before this work became Loveline Baskets , it was a lifeline for Cavendish. "In the very beginning it helped in the beginning stages of grief," she says. Next month will mark eight years since their son passed away at just eight days old. "Losing someone that you love is, there’s no word for it, and it doesn’t go away," says Cavendish. "You just have to find a way to make it work for you in your life and incorporate and honor." The former professional cook has always been creative, doing pottery, painting, sewing and quilting, but she needed something new. Her sister saw an article about basket-making, tried it, and inspired Cavendish to do the same. A Maine couple is creating hand-crafted baskets of high-quality rope and thread, hoping to offer a durable product, […]

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HVAC Contracting News Business Management Guest Column Eduardo Pretell. (Courtesy of Jobber) Acquiring leads as an HVAC business owner is essentially playing the word-of-mouth game. Once you get a new HVAC lead that becomes a customer, you improve your chances of booking more work. With word-of-mouth trickling down with the right lead generation strategies, there’s opportunity to turn hundreds of strangers into potential customers. So, what are the best ways to get leads as an HVAC business owner? A combination of digital marketing , traditional advertising, and good old word-of-mouth. Make Online Booking Easy It’s key to begin by adding an online work request form to your HVAC website — this allows casual visitors to stick around and turn into leads. Customers should be able to request or inquire about new work on their own time through the website, without having to call or email. Added bonus: The information they submit makes it easy to create an estimate before even connecting with the customer. Here’s what will make an online request form most successful: Make your unique selling point clear on the homepage. That can include competitive pricing, lightning-fast emergency services, or showcasing years of experience. Add a booking […]

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Kane Carpenter is the Employer Branding and Growth Strategies Practice Lead at Daggerfinn , a boutique strategy consulting firm. getty Organizational culture is crucial to building a strong team of business development professionals. Without a shared set of values, teams face the risk of stagnation, inefficiency and poor results. But how does one create an organizational culture that fosters both growth and accountability? Using the right strategies, your business development team can become more efficient and productive—and more capable of developing innovative solutions to complex problems. I hope this article helps fellow leaders build an organizational culture that drives outstanding performance day after day. What is organizational culture? Organizational culture is illustrated by the shared values, beliefs and norms that guide how people interact with each other and their environment. These elements reflect the organization’s core values and can vary across departments or even office floors. They are crucial to defining how people work together and setting key behavioral expectations. Organizational culture is critical for business environments and especially for business development. A positive organizational culture should foster creativity, productivity, collaboration, loyalty and commitment among employees. By encouraging team members to think outside the box, a strong organizational culture […]

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getty We live in an age where business intelligence is more key to a company’s survival than ever. Yet too many entrepreneurs face this fact only when they scale beyond a certain point and are forced to recognize the ways in which business and financial intelligence are crucial to their success. With economic uncertainty looming, housing rates decreasing and new regulations coming out frequently, it’s important that businesses stay in front of the future. Business intelligence is built on a foundation of metrics and data-driven decisions that help the company understand past trends and begin to forecast the future. There are several problem still looming in businesses: poor communication, human error and cash flow management problems are some of the biggest offenders. Many entrepreneurs and even executives of multi-million dollar corporations are living off a profit and loss statement—and this is a dangerous place to stay. To this day, many internal processes are performed manually, and that results in lag times in data, unproductive employees and eventually, high turnover of employees. The solution to all of this is to ensure that you have the right business intelligence in play, as well as the right tech stack. For today’s company, […]

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Nick Chandi is the CEO of ForwardAI , which helps financial institutions and accountants access, monitor and manage business accounting data. getty Digital payments are an integral part of the global economy, with countless daily transactions. Paying digitally is done by individuals, businesses and governments worldwide and has become an essential part of many people’s everyday lives. Over the years, digital payment technology has evolved and improved with the introduction of new payment methods, such as debit cards, mobile payments and digital wallets. These advances have made it easier and more convenient for people to make and receive payments electronically. What Businesses Use Now As digital payment technology continues to evolve, we will likely see even more innovations and improvements in the future. Yet, despite the evolution we have seen in the past century, the last time U.S. banks adopted a new electronic payment rail on a large scale was during the establishment of the Automated Clearing House network—or the ACH network—back in the 1970s. To put things into perspective, it took nearly seven to 10 years until the ACH network took off due to the groundwork required, and almost 50 years later, the ACH payment rail is still […]

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Rob Huxtable is an entrepreneur in service of private equity. He is the founder of Falcon and co-founder of PE-cxo.com and The Crucible. getty Over the past two decades, private equity returns have outperformed public markets and venture capital. There are a host of reasons for this, including savvy investment professionals and effective utilization of leverage. However, I see the bedrock of private equity’s success as the uncompromising standard of excellence required from portfolio company leadership teams. The private equity scorecard is clear and uncompromising. Sponsors invest money on behalf of limited partner (LP) institutional investors such as pension funds, university endowments, sovereign wealth funds and insurance companies. These LP investors heavily rely on private equity firms to meet their obligations and overall investment goals. They measure private equity firms—and their portfolio company executives—with two key metrics: multiple of invested capital (MOIC) and internal rate of return (IRR). Elite private equity-backed executives have solid business acumen and sector expertise. But what I see differentiate these leaders are five behavioral traits that help drive their top quartile outcomes. Most leaders believe they possess these traits, and that is probably true. But elite PE leaders distinguish themselves by cultivating these traits […]

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Sampo Parkkinen is the CEO and Founder of Revieve® , a personalized digital brand experience company in beauty, skin, health and wellness. getty The beauty industry is getting back on its feet after some rough years as one of the most rapidly growing sectors. According to the latest numbers , the global beauty industry is projected to reach $571.1 billion in 2023. However, the past years have taught us that companies must stay agile to maintain relevance. We have experienced radical economic, cultural, environmental, technological and financial shifts that have forced this industry to step back and address new challenges. All these shifts have impacted beauty in ways that have impelled even the most established cosmetic businesses to reinvent their business playbooks overnight. As competition in the beauty business intensifies, brands and retailers must become more critical in considering what they should do next, think about what sets them apart and take action quickly. However, if beauty businesses can embrace the truths outlined below, they can build the foundation to succeed and scale their businesses for years to come. Many brands don’t prioritize their customer experience. The linear customer journey model used by myriads of marketers is obsolete today—the […]

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Founding partner of CEO Advisory Guru, LLC . Best-selling author of The Private Equity Playbook and The Exit-Strategy Playbook. getty Everywhere you look, the signs are there. Christmas lights have come down, those unrelenting holiday ads are a distant memory, and the Salvation Army’s bell ringers have packed up their red buckets for another year. It all adds up to one thing: The holidays are over, and the new year is well underway. But for many people—and small and medium-sized business (SMB) owners are no exception—shaking off the holiday cobwebs and figuring out how to move forward is often easier said than done. Indeed, this is the time of year that many SMB owners find themselves asking one all-important question: How can I set my business up for more growth and profitability in this first quarter and for the rest of the year? While multifaceted, the answer is simple: You need to learn to run your SMB like a large business. Specifically, that means getting clear on your cash flow, setting measurable and achievable goals for growth, and staying disciplined about doing whatever it takes to achieve those targets. 1. Get Clear On Cash Flow Most SMB owners, myself […]

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New innovations announced are empowering businesses to be more intelligent, connected, secure and responsible WATERLOO, ON, Feb. 16, 2023 /PRNewswire/ — Today OpenText ™ (NASDAQ: OTEX ), (TSX: OTEX), announced Cloud Editions 23.1 (CE 23.1), the latest technology innovations on its Project Titanium roadmap and the future of information management in the cloud. As the company’s next generation cloud platform, Project Titanium will help customers accelerate their cloud-based digital transformation and adopt future Artificial Intelligence (AI) based applications. With the innovations introduced in CE 23.1, businesses can now connect and collaborate seamlessly with customers, partners, and employees across their digital ecosystem, and work more responsibly by using technology that addresses new rules and regulations. "Every industry is digitally transforming. Customers are navigating new rules and regulations and information management is at the core of the transformation," said Mark J. Barrenechea, CEO & CTO, OpenText. "The OpenText Cloud, powered by Cloud Editions 23.1, is accelerating innovations in climate, security, supply chains and customer experiences. Cloud Editions 23.1 is a major milestone toward Project Titanium, providing Information Management in the public cloud." Coming out of the previous Cloud Editions 22.4 announced during OpenText World last fall, IDC remarked, "Project Titanium guides […]

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