[00:00:00] Speaker A: Foreign.
[00:00:23] Speaker B: Hey, folks, welcome back to another episode of Biz Talk. My name is Rick Gutierrez, and I am your host and your biz business advocate. We always have a great time here on the show because we bring business owners, business professionals that have been in business for quite some time. They educate us, we have great conversations. We dive in, into their journey in the business world, and they can tell us, you know, tell us and showcase, you know, some of their expertise, you know, what they've been there, what they've done in the past, and how they jump through some of those hurdles that sometimes business, you know, has for us along the way. And it's a great pleasure to have someone today that has been in business for quite some time. My good friend Cliff is on the show for the first time. Welcome to the show, Cliff.
[00:01:09] Speaker C: Pleasure to be here.
[00:01:10] Speaker B: Absolutely. It's always a great time having folks just like you here on the show because we learn so much. I'm like a sponge, like, basically going to the library because I get to interview so many great professionals like you and then just ask them questions, and that's where I gain my knowledge. And so I appreciate you being here and being here for our audience as well. So one of the things that we like to do, Cliff, is basically give everyone the platform for you to showcase who you are, your company name, what it is that you do, why you do what you do, so that our audience knows who's on the show here today. So I'll give it to you so you can introduce yourself.
[00:01:45] Speaker C: Hi, my name is Cliff Gardner. I'm a partner at an M&A firm, Mergers Acquisition Firm in Dallas, Texas. A our firm name is ECP Ventures. We're a Christian firm, and we're very proud of that. I had a long, successful corporate career as a division CFO. I worked for several companies, 5 billion and above. And I'm literally at a point where this is my opportunity to give back. I've always had a lot of experience in mergers and acquisition. And I saw in the marketplace there are a lot of business owners that weren't properly prepared to sell or didn't have effective representation. And so it's really enriching and fulfilling for me to help those business owners to make sure that they get the value that they deserve. Many of these business owners have spent years or decades building value for their company, and they need assistance with a transaction, and our firm is here to help them with that.
[00:02:37] Speaker B: Absolutely. So, so many great things that you mentioned, Cliff. I mean, a Christian organization, something to be really proud of. We appreciate, you know, being that Christian based business. And then two, what you said something about, you know, making sure that every single one of your clients, you bring value to them, which is something that unfortunately a lot of business owners forget. The number one key element when business is our clients. Right. We want to make sure that we bring value to them so that they know that we're here for them to help them and support them in every single way. So, Cliff, one of the great topics of conversation here today is getting people to the point of being able to sell their business when they are ready to get out of business or maybe transition into another business. And maybe they just want to start talking to someone like you about getting their business ready to sell. So there is so many things and so many ways that we can go with this conversation. But for today there are, you know, when people are trying to sell their business is, is there's a smart way and then there is another way that, you know, a lot of people are facing problems in and possibly maybe in the audience, right. That want to sell their business, but they don't know where to start. And often it feels like it's an ongoing missing an opportunity or missing, you know, something up throughout the process. So let's talk about that a little bit and first and foremost, you know, educate us on, on what are the very first things a business owner should do if they are thinking and, or want to sell.
[00:04:16] Speaker C: Okay. Well, I would suggest the very first thing they should do is determine why they want to sell. And once they've determined why they want to sell, have they done everything for good preparation and planning? Most, most small businesses don't have a succession plan. All of a sudden they lose control of it because of bad health or fatigue or aging and they have an urgenc. But it should be much better planned and they should determine other opportunities within their family for succession planning. We never encourage selling in the open market. If there's a succession plan within their family or with their employees. A lot of high quality business owners want to transition to their employees. If those aren't an option, then they should go to the open market. When they go to the open market, they should really strive to get really high quality representation. We highly recommend that they get an M and A advisor and not a business broker. And the distinction is if they want to have control throughout the entire transaction, an M and A advisor is a high end technical professional that will give them leadance, that will lead their transaction for them and give them guidance and direction. Whereas a business broker will treat their business as a commodity and simply put it out there in the market as a commodity and not strive to maximize the value for it. And then once they've decided to do that and they've got representation, they should determine what their objectives are. And their objectives for a good business owner are quantitative and qualitative. Certainly there's quantitative standards that need to be achieved for a successful exit. But many business owners are very focused on their employees, their vendors, their patients, their community, their legacy. And all those facets should be considered as well when, when they're making a decision. And then before they start, they should agree with their advisor on a minimum price so there are no surprises. So any expectation gap can be negotiated and concluded before they commence an offering.
[00:06:16] Speaker B: Yeah, absolutely. Thank you so much for, you know, everything that you said is pretty amazing. And for those that are seeking that information, I mean, we've got an expert right here. But one of the things that kind of stood out for me or my takeaway from that, Cliff, was that there that a lot of people don't understand and don't know the differences between a business broker and an M and a advisor. And so I'm glad that you discovered and went through that and look at it from that perspective.
A mergers and acquisition advisor is going to look at your business, you know, the way it should be versus a business broker. Again, as Cliff said, a commodity is going to post it up and, you know, hopefully to gain a buyer sometime in the nearest near future. Similar to what a residential or commercial real estate agent would do. Right?
[00:07:03] Speaker C: Exactly. Yes, exactly.
[00:07:05] Speaker B: But mergers and acquisition advisors is definitely the way to go. So Cliff, I know that cleaning your numbers and tightening business operations actually make the business worth more. But how in depth should that business owner go into cleaning their operations and tightening up their numbers and all that? I mean, is it just a superficial thing or do they need to dive in and get those things nailed down pretty good?
[00:07:34] Speaker C: They need to do a very deep dive. And part of the reason is because they're not prepared for a transaction. I wouldn't say they've been trained wrong, but other training up until this point in time has been a minimize taxation. And so I like to give this example that, that a lot of times business owners will be guided by their cpa and their CPA will say, spend some more money, run personal expenses through, do whatever you need to do to lower your earnings number. And so if they put 100,000 of expenses through their financials in their 30% incremental tax bracket, they save $30,000. The problem is when they go to sell, if they didn't have that 100,000 of expenses in there and they're selling for a multiple of six times earnings, that 100,000 now costs them 600,000 of purchase price. So there is a process called sellers adjustments, discretionary adjustment, earnings adjustments where you go through and you restate the numbers. You don't restate the historical numbers, you don't restate the historical tax filings, but you go through a spreadsheet exercise with your advisor and you look through your entire financials for the three historical years being presented and you find any adjustments or add backs as they're called. And a lot of people think they're just personal expenses, but they're not just personal expenses. They can be one time expenses, they can be redundant expenses. They can be subjective expenses that have been run through the financials. A buyer is going to ask 500 questions realistically, but they only want one answer. They want to understand what that business is going to be worth to them the day after they close. What transfer, transferable value is there for them when they're the owner the next day. And that's the whole role of a really good M and a advisor is to do a value conveyance to showcase the company and share that value so that buyer can make a fully informed decision.
[00:09:26] Speaker B: Yeah, absolutely. I mean, we can't stress it enough. I mean it's all about transparency, right? You want to make sure that all of those numbers are, you have made a really good dive in cleaning up all those numbers and business, business operations, it's crucial and it could potentially end up bringing you more money with, you know, after the, the sale or the merger of the business. And so it's a, we can't stress it enough. So Cliff, I know that we're coming to the end of the segment now, but is it's something that we're going to pick up on our next, you know, coming back from commercial. But I do have additional questions for you in terms of, you know, mergers and acquisitions and things like that. But I think for now, let me go ahead and take a commercial break and we'll come back and continue the conversation. What do you say?
[00:10:12] Speaker C: Great. Sounds good.
[00:10:13] Speaker B: Absolutely. All right, folks, stay right there. We'll be right back after this. Commercial.
[00:10:29] Speaker A: Foreign.
[00:10:37] Speaker B: Hey folks, thank you for sticking with us. Welcome back to Biz Talk. If you just now tuning in, my name is Rick Gutierrez. I'm your host and your business advocate and we're continuing a conversation, a great business conversation with Cliff Gardner, who is here to help us understand a little bit more as to what all it takes to get a business right ready to be sold and, or for a merger and or acquisition. Cliff, welcome back to the show. We're going to continue the conversation because I think this is a topic that a lot of people are very interested in knowing more about and, you know, getting to know you a little bit more and learning more about your expertise. So, Cliff, there are so many red flags that could potentially happen in a mergers acquisitions, right? So what are some of those, you know, most prominent red flags that makes buyers nervous or walk away from a deal?
[00:11:29] Speaker C: Well, a buyer really wants to understand the value of a company. So they're looking for clear, concise communication and they're really looking for high quality information off of their due diligence list and so forth. And so a key is, we recommend for our clients total transparency. And the total transparency really starts with the dialogue with us. We ask our clients to tell us the good, the bad and the ugly about their company. Every company has some things they'd probably rather not broadcast in public, but it's full disclosure when you go through a transaction. So you want to share all aspects of your business operation with your advisor. And then once the process starts, the fastest way to scare away a buyer is to not show transparency, to not be candid with them and give them open books and records, access to your information. They want to know that you're being forthright and candid and truthful with them. They're doing an integrity evaluation of you as a seller to determine if you are an integrity based company to start with because otherwise that'll scare them away. And it's important we also got our clients that you are doing an offering, you're not selling, so you do not try to sell to a buyer. The buyers are very sophisticated. What they're looking for is for you to give them high quality information so that they can make a fully informed decision. When that dialogue works both ways, back and forth, it's a great relationship. Trust is built, confidence is earned, and the process can proceed very effectively.
[00:13:04] Speaker B: No, I totally agree. I mean, my model, my philosophy is having the most open, honest and transparent conversations. Right? That's the only way to move forward with things. Otherwise there's going to be tons of red flags. And having your books in order, for example, having operational manuals or guidelines or things like that for the business is probably crucial. Just as well to keep the conversations moving forward and not have a potential buyer walk away because they Just felt like it was not the best fit for them or maybe there was a lack of information, lack of data from the business where they can make a well informed decision. So Cliff, we've been talking a lot about on the seller side from business operations and how important it is to have that, you know, tightened up as well as numbers and then also wondering what could potentially be red flags for the buyers. But let's talk about from the buyer standpoint, looking into a business. What are the one, maybe two things that are the highest, most important things that a buyer should be looking for when looking at buying a business or a merger?
[00:14:14] Speaker C: Well, the most important words right now to buyers is recurring revenue. They're really fixated on that. Is there a book of business there that'll be sustainable on the other side after a transaction? So they really want to see there's recurring revenues or know that there's value. Other things that they get concerned about. Is the current owner too integral in the operations? Is there going to be a huge void if the current owner steps out of the role or is the business transferable? And then the buyers also want to get really good timely information. They want to understand how the product or service is priced. They really want to take a good look at margin analysis and see what type of sustainable earnings there are with this business. It's basically a economic and mathematical proving of the company. But if it's done well, it should be uneventful. It shouldn't be stressful for the buyer or the seller. It's really a matter of the seller being open and candid with everything and giving full access to every bit of information about their company and keeping all emotion out of it. That's probably another big aspect that's a red flag is if, if the buyers get in, I mean, if the sellers get indignant or emotional, you want to maintain a level of total objectivity, start to finish.
[00:15:33] Speaker B: Absolutely. Because we have many business owners who's, you know, run their family business for a very long time and it's time for them to move on. And so there's a lot of emotion that goes in, a lot of things that are attached to just, you know, that business itself. So it needs to be looked at as a sole business transaction and nothing other than that so that everyone can move forward which with every role they're going to move into.
But Cliff, there's a, a buyer out there who is looking to buy a business right now as we speak. And they're probably looking at, you know, from financials to all of the data as to who the owners are, would you advise or do you see it as a good practice or is it advisable for there to be a transition period to where the seller stays on board for an X amount of time for that transition period so that the members and or the clients for that business feel comfortable within the transition?
[00:16:35] Speaker C: Oh, absolutely. We want to go back to one of the first points about establishing the objectives for the seller. The objectives for the seller's transition is critically important. Some sellers only want to stay three months or six months. Some are willing to stay as long as it takes. Some are willing to be a senior advisor on the other side. It really depends on what the sophistication level of the buyer is. If it's a large company or an equity holding, they may have a lot of sophistication and not need the learning curve from the seller for long term. If it's a smaller or less sophisticated buyer, they really want to, or I wouldn't say partner, but they want to collaborate with the seller after the transaction. So a lot of times we will do a one year agreement, a consulting agreement. Sometimes it's renewable for another year or two. Sometimes our sellers, literally just three months, they want to throw the keys in the counter and go away. So it's a negotiation. A lot of times we spend a lot of time when we conduct a transaction negotiating the post closing roles not only for the seller that's departing, but for the key management team as well to make sure that there's a really good transition and the start of an effective assimilation on the other side.
[00:17:52] Speaker B: Right. So it just really depends. It's a negotiation, right? I mean some sellers, some buyers, I mean, my apologies, some sellers are ready to just do the three months and be done and over with and be completely out. Others are willing to stay.
There is a one particular scenario that I like to paint. Cliff. This past weekend I was, I went to a brunch. It was a restaurant that we had been to many, many times over the years. Always great service, always great food and whatnot. But this weekend we went and we realized something has changed in the restaurant. We noticed it just in the first, on that one sit down. In that restaurant, we noticed that there was new staff. We noticed that there was a photographer walking around taking pictures of everyone, you know, eating their meal. And then we also noticed that there was a new manager in the restaurant and a new apparently owner of the restaurant. And so I happened to ask because we had been there for many times, many, many years. And so I Asked, was this under new management or something? And one of the waiters said, yes, we are under new management. And I'm like, it's interesting because it's not just about there being presence or signs of new management, but there is also difference in the food. And so my question to you, Cliff, is like, when a buyer comes in and takes over a new business, how important or how not important is it to start changing things of the services or the products that the business has been providing for many years?
Is it something that is within the business world in mergers and acquisitions for them to revamp the menu or is it not. Not necessary to revamp the venue? How far would you take it?
[00:19:40] Speaker C: That's a very good question, Rick. And it really starts with, as a firm, we strive to get our sellers a minimum of five qualified. Lois. We want them to have choices so they can evaluate each buyer to see who's going to be a good fit and who's not going to be a good fit. One of the big surprises that came to me when I left the Fortune 500 setting that came into the lower middle market was probably half of our clients don't take the highest price. It's because they're focused on qualitative aspects, including their employees and their legacy and everything. But there's also another critical determinant, and that seller wants to evaluate the probability of success for the buyer. They just don't want to sell it for a pile of cash and watch somebody drive it into the ground in the first three or six months afterwards. They want to really feel in their stomach that that buyer is going to be successful and they're willing to help them on their side to be successful. A good buyer should typically come in and not make any changes for the first 180 days. They should come in and learn everything they can possibly learn and absorb about that company, especially the culture, just like the example you're giving there. It sounds like they already radiated a change in culture and condition within weeks of taking over. That. That's a. That's a path to destruction where it's just starting to alienate customers and employees and everything else. I mean, it's a major change to conduct a transaction for the employees and everybody on both sides to start with. But then when you start disrupting the culture that was prevailing, usually that's an adverse condition.
[00:21:16] Speaker B: Yeah, I couldn't agree more. I mean, it made us question whether we want to go back to that restaurant or not and not. Not only because, you know, the food was not the same of the same quality. But we also noticed that there was a new menu with new pricing as well. And so not only that, they revamped the menu just in food aspect, but also in pricing. And so we were like, we don't know that this is, you know, the, the best place. And we know that this happened because just about a month ago, we were in that restaurant and it was still the same old, you know, ownership, and so same menu for many years.
And now these folks came in and they just changed everything within one month. And it's just, I don't know if it's going to be a good thing for them, but sometimes it does work. I'm not saying it doesn't, but a lot of times, especially in the food industry, if you have a. Basically a book of business, your clients that you count on, they come in very frequently. You might want to keep things the same a little bit longer than just 30 days, like you mentioned. Clip.
So it's.
[00:22:16] Speaker C: Well, some, some buyers come in, Rick. They come in with a sense of arrogance, and they know better than the people that were already there, and that alienates everybody.
[00:22:25] Speaker B: Yeah.
[00:22:25] Speaker C: So that's, that's why we like our. Our clients to have choices, because they're going to pick the one that's most compatible with them culturally.
[00:22:32] Speaker B: Yep. Absolutely. Well, Cliff, we are coming in to the end of this segment as well, and so I want to thank you. I mean, we've done two segments with you, and I feel like we've learned so much by just having you on the show this one time. And you're provided tons of information and showed your expertise and mergers and acquisitions. So we want to thank you for being on the show and hopefully this is not the last time we see you on the show.
[00:22:55] Speaker C: That sounds great. Thank you so much for having me. It was a real privilege.
[00:22:58] Speaker B: Absolutely. A privilege was all ours. It was mine. And so thank you again. All right, folks, we are going to go into a quick commercial break. We are going to be back with another subject matter expert. So stay right there. We'll be right back.
Hey, folks, welcome back to Biz Talk. My name is Rick Gutierrez. I am your host and your business advocate. And just like any other week, we are having another great week this week with amazing guests that are going to be on the show. We are bringing you the top talent from business owners, business professionals that have been there and done that. And so the reason why they are here is to teach us, educate us, and we can learn from them. Right. We could potentially learn what they have done right and what they have done wrong so that we don't make the same mistakes and so on and so on. And so I am excited for this week's show because we've got great talent, as I mentioned, great business owners, great just overall business education for everyone, viewing and listening. And this week I'm excited to bring on board someone who I just met, Ms. Kimberly diamond with K Diamond Consulting. She has been helping teams create amazing teams. I mean, she's been helping companies create amazing teams and she is the expert in that. So we want to have this conversation. So, Kimberly, welcome to the show. We're happy to have you.
[00:24:29] Speaker A: Thanks, Rick. I appreciate it. I'm really glad to be here today. Thank you so much.
[00:24:32] Speaker B: Absolutely. We're excited to have you. I know we're going to have a great conversation and it all revolves around building a winning team. And if every single business owner was to have a winning team from day one, they would say they would have the perfect day. Right. But sometimes it doesn't happen that way. Right. So that is what we're going to be talking about today. And you know, there are several problems that business owners face while building a team and whatnot. There are some growing pains. There are some, you know, education that we get to learn ourselves from hiring the right people and also hiring not so great people. And so let's have a conversation about that, Kimberly, because I think our audience are, you know, wanting to know more about building a great team. So, Kimberly, from before we even get started, I think it's important that our viewers and our listeners have a great understanding more to hear from you as to what it is that you do, your company and, you know, why you do what you do. So let our audience know who you are.
[00:25:41] Speaker C: Great.
[00:25:42] Speaker A: Thank you. Well, as you know, I'm Kim diamond with K Diamond Consulting. I have been in the recruiting industry for 18 years. I've worked at corporations and staff, staffing organizations. I've worked for Fortune 500s private equity startups. And what, what I stepped out to do at K Diamond Consulting was to be the person that someone could come to with those types of questions when they're trying to hire new talent, when they're looking at new processes with respect to hiring people, resources, tools. So I would, you know, I'm opening my doors to those individuals to come to me and ask those types of questions. How do I get started? How do I use these tools? You know, what kind of a budget can I expect to, to have to look at? How do I interview? Those are the Types of areas that I like to share my expertise with, help those types of, you know, the small businesses get those resources and be able to move forward and scale their companies up as they need to. And so that's why I started K Diamond Consulting. So it wouldn't be just a recruiter. I'd be here to help with the other areas that are very, very important when it comes to hiring.
[00:26:50] Speaker B: Absolutely. And as you know, I am a business owner myself. And so while building a team, you know, some of the things that we go through, the hiring process is so many questions come up, right. I mean, who are we looking for? What are the traits that they're looking for? So Kimberly, why is having a strong hiring plan so important for small businesses that want to grow?
[00:27:15] Speaker A: Well, first off, if you have a strong hiring plan, it allows you for scalability when you need it. Okay. If you, if you have it set, you are filling positions as needed without delays. So without that, you know, you can, you can be struggling at times.
It also provides efficiency when it comes to streamlining your recruitment process. If you reducing the time to find individuals and get them on board, then your core teams are able to look and work towards their core, the core operations and not just constantly spending their time in the recruiting space. There's also strategic budgeting that comes with this. If you have a strong hiring plan, it helps you budget for salaries and training and help hopefully helps you keep from overspending when it comes to personnel. And I think also included in that should be adaptability, looking for individuals who can adapt to different roles so as your business evolves, they can move into those roles. It's not necessarily hiring function to function, but they can learn the other functionalities as well. As you know, that helps them grow. So if you do that, then I think that supports your immediate staffing needs, but it also aligns with your long term business objectives and the fostering the sustainability of growth. So those are some key points I would, would look at when you're looking to do this. The hiring plan.
[00:28:26] Speaker B: Yeah, I think, you know, with strategic plans to growth, to grow, it's. It's your hiring process, your plan, your strategy, your strategy. It plays a very big role if you want to hire the right people in order to get where you want to go as quickly as possible. So it's highly important. So Kimberly, another thing that came up to mind as some of the first steps a small business owner can take to ensure they hire not just a team, but the right team. What are some of those things that business owners are needing to do to ensure that it's the right team from day one.
[00:29:09] Speaker A: Well, one of the key things, in my opinion, is to make sure that you have proper job descriptions and an engaging job postings. So you want to make sure that you walk through what the skill sets are needed, make sure that that's properly advertised. A lot of people tend to just try to potentially find a canned job description and use it. You really need to tailor it to what your organization needs as well as creating an engaging post to draw their attention.
Another thing would be develop a hiring strategy like we talked about. Be ahead of the game, don't be reactionary. Be prepared, and have a hiring process set out and aligned. And when you do that, I would suggest involving your team, making sure your team knows exactly what the process is for the candidate. So it will help with the experience with the individuals involved in interviewing as well as the candidate. And you also want to implement proper screening questions and processes for the individuals. Very important that the candidate has a strong, healthy experience through the process. Plus it helps your hiring team and then preparing those proper interview questions around the skills and capabilities that you're looking for. Prepare those in advance. You know, try not to be just overly, you know, conversation is great. You want to get to know the candidate, but you want to also make sure you target those key skills and capabilities through those interview questions. Some of these resources are very accessible today and quickly accessible through AI. So if you need assistance with creating those, AI is a great resource for helping you create job descriptions, screening questions, interview questions, behavioral interview questions, things of that nature. So those are, I think, the key steps in the beginning of your process to start making sure that you're getting the right individuals and you're keeping them through a process as well. Because that's another thing.
[00:30:56] Speaker B: Very good. So in a previous life, I've had my fair share of being interviewed for, you know, many roles. And I always wondered, you know, where do they come up with the questions, the interviewing questions? Right. And I'm sitting there wondering how and. Or why. But would you say that the reason why certain questions are built is a certain way is to kind of just illustrate where the prospect could potentially where to see where their culture is, to see how it meshes well with the company culture. Would that be a fair assessment?
[00:31:31] Speaker A: Absolutely.
[00:31:32] Speaker B: Okay.
[00:31:33] Speaker A: You would look at your company culture and there's ways to identify questions that will help you understand how they would align. It's absolutely doable. Again, AI is a great resource for that in today's world.
[00:31:46] Speaker B: Yeah. Back in the day before AI was available, I remember a lot of these questions. I would wonder how they come up with all these questions. Because the person being interviewed, could they potentially be blindsided because they don't know the company culture just yet. Right. They're only a prospect interviewing for a job. Right. So they want to see how they would answer these questions. But I always felt that the questions were more in lines of the company ownership or the people interviewing wanted to know the prospect's points of view, but the prospect wasn't really aware as to what the company culture was. So would you say that that was fair to the prospect?
[00:32:29] Speaker A: It is a challenge to the prospect. But then, you know, I always would implore a prospect to do their homework on the organization. Google, Yelp, go to the various social media outlets to see what people are saying. So you can possibly gleam a little bit about the culture. Usually some people will have their mission statement, their value statement, they'll have some videos of their individuals, and you can gleam a little bit about what their culture is like and do some homework in advance. And that is a key component to interviewing anymore, is the cultural fit. Yes. Skills and capabilities are also of utmost importance. But when it's not a fit for either, it generally does not last.
[00:33:14] Speaker B: Right. So it's got to be a great complement between everything. I mean, you're talking about not only culture, but it's everything that the company was built on. Right. It's. And not only that, I mean, the new prospect that could potentially turn into an employee that is someone that is going to go out into the world and, or speak to clients, customers on behalf of the company. So you have to make sure it's the right people.
Let me ask you this question.
How can a small business compete with bigger companies, especially when there's the obvious budget difference when it comes to hiring great talent?
[00:33:54] Speaker A: Well, it can be a challenge, but people have done it. And one of the areas that I've seen people be successful is emphasizing their unique strengths and what they bring to the table for the, for the candidates. So in other words, do they have a flexible schedule? Do they promote organizational growth?
Do they have, And I know compensation is, you know, something some people try to steer away from. But in today's world, transparency on compensation is very important because if you are competitive, you want to talk about, and you want to express that, you also want to showcase stories of your candidates or your, excuse me, your employees. Because if you're, if they can see that your employees have had success within an organization through the various social media platforms, LinkedIn, Instagram, Facebook, they will become engaged and they will see that there is potential. So if you have those things to share, doesn't cost a lot of money to do these things. They are things that just should be of a communication nature that you're getting out there. And it can be done in, you know, various aspects right now in social media. So emphasizing your values, your strengths are important, so don't hide them. You know, if you feel like you have a flexible schedule and you feel like you really promote growth within an organization or your product stands out per se, say you're, you're now an innovator and you're coming to the market with a new product or service that makes you stand out. You want to promote that, that's going to excite a candidate or an individual to be in the forefront of a new, of a new organization or service or product.
[00:35:27] Speaker B: Okay, fantastic. Kimberly. This conversation, I think can go on and on just because there's tons there, right? There's a lot of information out there for everyone that's watching and listening. But I'd like to continue the conversation, honestly, because I think it's important and we can continue it as soon as we come back from a quick short commercial break that we're going to take. So folks, don't stick around. There's a lot more to learn here from Kimberly. So we'll be right back after these commercials.
Hey, folks, welcome back to Biz Talk. In case you are just now tuning in, my name is Rick Gutierrez. I'm your host and your business advocate. And we are continuing a conversation with Kimberly diamond with K. Dimon Consulting, who is here educating us on anything that everything that has to do with hiring the right team from the get go. We're continuing this conversation and just a little while ago we were talking about, you know, the right prospect for the right team. It all has to do with company culture and things like that. I think one of the things that we kind of want to pick up from there, Kim, is, you know, there are, there's a trend right now. There's a lot of companies and, you know, prospects that are looking for to land a job.
They're having a challenge, you know, and their final challenge, finding the right fit, finding the right company with the right culture and all those good things. The question is, why is there such a challenge right now?
[00:37:06] Speaker A: Well, we have a lot of people who are, and I know it doesn't sound like it when you see it on the media that, you know, but there's a lot of people looking for jobs. Even though that says unemployment rates very low.
There are a lot of people that are out there that are highly skilled, highly educated, you know, everyone included, looking for opportunities and trying to, to work through the processes. Now we have got a lot of technology involved. So it's become, some organizations are leaning much more towards technology when it comes to identifying a quality candidate versus relying on the human side of it, which is people like myself, you know, really having those one on one conversations. They're, you know, they're using technology. AI is one of them, but there's many others and they've been around for a long time. It's not all, all new, but it's a matter of people trying to understand how do I get through that algorithm and how do I get their attention. And it is a challenge and there's no quick answer for that. I do not have the solution to how to do that other than when you are looking at opportunities and you see them pay very close attention to what they're discussing as far as what they're looking for. And I know a lot of people say, well, you know, I don't necessarily have that skill, but I should apply.
In today's world, that's a challenge for a recruiter. If you're missing a key skill set, okay then it's generally not going to make it through their system, but it's going to get bypassed. I hate to say that, but we can only see so many resumes. So people need to be conscious of what they're applying to understand it, adjust the resume accordingly. Only if you have the skills, but there are things you can do and there's plenty of things you can Google and you can use AI to help you with that. And then as far as organizations go, I think they need to use their proper technology, but they don't need to rely solely on that when it comes to filtering resumes. I really think that you need to have a human eye on some of these or you need to find a way to incorporate the two in order to really see everything on a, you know, when a person is applying to an opportunity. So I think we're, everybody's struggling with how to that balance, you know, that balance of technology and human humanity that we, you know, to keep the people engaged and not feel like they're just another number and then the business to not feel overwhelmed because they don't have the people to look at the resumes and they really need a more efficient way to do it. So I think we're still trying to find our way through all of that. And I think that's a company and a candidate right now.
[00:39:42] Speaker B: Yeah, I think having AI nowadays plays a big role as to what that trend can be. I personally have seen to where AI could potentially produce a really great resume, which could potentially, I guess, elaborate a little bit more on the skill set that one might have. And then when you actually are hired and you're asked to prove dues or, you know, do the job, you actually. You don't have the skills. Right, right. I mean, have you seen a lot of that happen?
[00:40:16] Speaker A: Well, that would be a good example of getting that per. That. That great resume done by AI and then sending it in, and then the organization saying, oh, this looks like a great candidate. And then they bring the candidate in.
[00:40:27] Speaker B: And it's not a match.
[00:40:29] Speaker A: They can't get through the interview. It's not a match. Can't get through the interview process or the questions, or not answering the questions the way they would have expected them to answer the questions.
[00:40:37] Speaker B: Yeah, yeah. So as we know, AI is great for helping us. Not doing the job for us, not.
[00:40:44] Speaker A: Doing the job for us. That's why people like recruiters are very important, or individuals, whoever you want to, you know, to. To utilize, to screen those individuals up front. Once they identify, they look good on paper, they want to really have a proper screening process. And some people use assessments, and that's fine. It just depends on the. On the position. But ultimately, I think you need to have a conversation and if it's one, before they get in front of a hiring manager. Just to be clear that we're talking to someone who actually has done a similar job or, you know, appropriate job, then I think that that's a step you don't want to miss.
[00:41:20] Speaker B: Yeah, absolutely. I mean, I can emphasize on that as much as I can. I can emphasize on that forever. But AI is there to help us, not to do the job for us. So in other words, if you have a great resume, you might want to have AI just take a look at it to see where there's areas for improvement, but do not allow AI to build it for you. And it may do. It may do a great job, but it may add things that you actually don't have the skill set for, and that could provide you with some really great challenges at the time of the interview. So.
[00:41:55] Speaker A: Exactly. So be conscious of what AI does provide to you. Look through it. Don't just take it for verbatim necessarily. You know, you really. Some people just go oh, that copy, paste and then. And haven't even read it.
Assume it's good.
[00:42:10] Speaker B: I was about to say do not just copy and paste and send it to the recruiter.
[00:42:16] Speaker A: So, Kim, we'll find out really quickly. I know.
[00:42:19] Speaker B: I mean, and you've seen that quite a bit. So you reading the resume, you could potentially tell whether it was AI written or it's an actual individual that. That wrote it, right?
[00:42:29] Speaker A: In some cases, yes, you can. The more technical ones are probably a little bit more challenging to identify that because they generally are a technical person by nature. So they would write technically.
But there are some. I mean, you can tell within a few minutes of conversing with someone sometimes whether or not they used AI for, you know, like, okay, yes, you can. People stumble.
[00:42:51] Speaker B: Yeah, yeah. So in your field, I mean, you obviously are a recruiter and you're helping companies find the right talent and whatnot. What industries do you see having great success in finding talent? And what industries are you finding that are having more challenge finding the right talent?
Is there one or another?
[00:43:20] Speaker A: I know that they struggle some. I've got a medical recruiter, so that's not an area of expertise for me. I know that they struggle in the medical industry right now. Just individuals just not going to school for those certain skills.
Engineers are still doing, I would say doing fine.
What it's really, what. It's difficult to find individuals who are starting out like, not over like skilled trades, things of that nature, because there's a lot of options for skilled trade people. So we struggle because everybody needs that skilled labored worker. Okay. You only have so many people that need a controller or a vice president of pricing. You know what I mean? It's, you know, you have multiples of the other roles where you have one role.
So I think it's more role or functionality specific than it is industry specific.
[00:44:12] Speaker B: Gotcha.
[00:44:13] Speaker A: Right now the IT has. Has had its turns, but that's just because the technology is ever turning. So their environment is definitely one that's volatile right now with the individuals and what they've focused on, whether they focused in system administration or, you know, you know, everybody's now switching gears to AI, right. So. And having to become the expert in AI.
So technology would be one. There, there's. They've been seeing some shifts in IT and medical. I think they struggle just because they don't have as many individuals as they need that are interested in getting into that. Into that space, you know, like nursing and, you know, support care, that sort of thing.
[00:44:49] Speaker B: Yeah, I figure out everybody else's question because it's important to know whether it was industry or maybe just role specific. Where there were there are, you know, there were there more challenges. Well, Kim, they're telling me that I need to wrap it up, even though I want to continue this conversation because I think it's important and there's a lot to talk about here. But I sure hope that you come back and visit us here at BizTalk and continue the conversation and continue to educate folks that are out there watching and listening. So I want to thank you for being on the show. It's really been amazing to have you.
[00:45:18] Speaker A: Well, thank you so much. It's been amazing to be here as well. Thanks so much, Rick. I appreciate it. You have a great day. And if you need to find me, I'
[email protected] awesome.
[00:45:26] Speaker B: Thank you so much, Kim. We'll talk to you soon.
[00:45:28] Speaker A: Thanks.
[00:45:29] Speaker B: All right, folks, we have come to the end of the show. We are going to see you next week with a whole new lineup of business owners, business professionals. We have been having a great week and next week is just going to be just as great. So until next time, take care of each other.
Hey, folks, thank you for staying tuned in. My name is Rick Gutierrez in case you are just now tuning in. I am your host and your business advocate. Thank you again for being here and listening to all of our guests that have been on the show, all those business owners, business professionals that have taught us so many things throughout their time here on the show. This segment here is a little bit different than what we have done in the past. I'm going to introduce a very special person that is here in the studio with me today. And the reason for that is because it's come to an end. Everything's got a shelf life and everything comes to an end. I've had the honor of hosting this show for the past year and now it is turn to, you know, turn over the baton to someone who is going to take the show further than what it has been. And it is a great pleasure to not only introduce her as Ms. Leadership, but she's a very dear friend of mine and a business partner. So we want to welcome and say hello to Ms. Emily Galinda who will be guiding you as we continue to move forward. So thank you for being here. Hi.
[00:46:58] Speaker D: Thanks. I'm excited to be here. I love you said I miss leadership. I absolutely love business ownership. I think that it's an amazing thing and it's not an easy thing. And not enough people know how to do it. And so super excited to be here and having really amazing conversations with other business professionals.
[00:47:16] Speaker B: Absolutely. So one of the reasons why we love business and we love small business, medium business, large business, it's because that is what drives the economy, right? It drives the economy. And a lot of people are doing a lot of great things, providing great services, great products for a lot of people. A lot of people are benefiting, but as well as those business owners. And so it has been a great honor to be on the show, to be your host. And, you know, maybe I'll pop in every once in a while, you know, to say hello and, you know, maybe take over for Emily for a little bit. Everybody, time that she's not able to be here. But it is now up to Emily to take this show and take it to be better and greater than what it has been. And we do have some things in store for the show and some things that Emily's gonna bring her flair to. So tell us a little bit about that, Emily. I mean, I know that you're looking forward to being the host of the show, but it. Every time that we. I host a show, I tell folks it's like going into a library, because I'm like a sponge. I get to interview all kinds of business owners, business professionals, and I just get to learn from all of them. So tell us what you are looking forward to the most.
[00:48:23] Speaker D: I mean, that's one of them. I've been doing business consulting for the last 10 years from a marketing space, from a leadership development space.
And that's the best part of the entire experience, is getting to learn from everybody a little bit about every single industry, which I feel like makes me a better person and a better consultant.
And so I'm really looking forward to learning more from. From all the people who are here contributing to the show. I also am really looking forward to helping to make an impact on people. Like, it is not. It's not easy to be a business owner.
[00:48:56] Speaker B: Right.
[00:48:56] Speaker D: You and I know that. These guys all know that. And I think that if we can bestow any kind of knowledge or help to anybody who's going through being a business owner and helping them make that a little bit easier and not as difficult, because going into business is not. Not only is operating it not easy doing, making that leap is not easy. And.
And I. It's people's dreams. It's how they feed their families. It's how they contribute to the economy. And if we can make that just a little bit easier. I'm really looking forward to being able to help that make that impact.
[00:49:29] Speaker B: I think what inspires me the most is business owners passion for their vision and their mission to take their products and our services and bring them to many. And you know, there are times in business to where there are hurdles and there are challenges just by being a business owner in itself and watching all business owners, you know, continue to push forward and does not matter what gets in between or gets in the way, you're continuing to move forward. I was just talking to one of our good friends that was here recording a little while ago and this is not her favorite day of the month because this is when you get to do payroll. Right. Which is one of the things that we love because we have great talent and we have great teams. But at the same time we see a lot of cash flow going out the window, not out the window to good employees, to good help. And so it's one of those things that, you know, the receipts resilience, the grit, the working late hours, all of those things. It's what drives us and motivates us to continue to do this and to continue to support these business owners.
[00:50:33] Speaker D: Yes, absolutely. And like you said, we're all here to make a difference and whether that's with your product and service or whether that's on another business owner, that's what we're here to do at BizTalk. So I'm excited to be here.
[00:50:46] Speaker B: Awesome. We're excited that you're taking over the show. We could not find someone who could be a better fit for this show. She's going to be amazing. She's going to bring tons of knowledge, expertise, sales and marketing. You've got what over?
[00:51:00] Speaker D: I've got 15 years in sales and marketing.
[00:51:02] Speaker B: 15 years in sales and marketing alone, which is something that's helping our members in our organization as well. Well folks, we have come to the end of the segment. As I mentioned earlier, this was going to be a little bit of a different segment and it has been and it's going to be a short one as well because. Because this is where I get to say see you soon is what I like to say. I don't like to say goodbye or anything like that, but I will see you soon, hopefully in a segment. So take care of each other.
[00:51:28] Speaker C: This has been a NOW Media Network's feature presentation. All rights reserved.
