Vann Group

It’s Time to Revitalize Your Company

michael — Fri, 03 Feb 2012 00:58:24 +0000

For some people, January 1 is a time of renewal and beginning, and thus is a clean slate that should be embraced. To a business owner it’s the complete opposite; it’s incredibly discouraging to realize that we have to start over because the calendar switched days. As such, the dawn of a new year has an incredibly unnerving ability to remind us all that the past is farther away than ever. Coming into year four or five of a major recession will also do the same, leaving us longing for the good old days of 2005--a time that, in hindsight, was a little simpler.

Of course, it’s been more than a dragged out recession that stresses us all out and leaves us longing for the optimism of the quixotic Bush administration days. Back then at least the enemy was clearly defined. In 2012 we have no idea who our enemy is; it could be a new era terror like Amazon, an old school behemoth like General Electric or it could be the next big thing that was created by a college kid in his dorm room. In today’s world, businesses have no idea where the next threat is coming from which makes preparing for the worst a near impossibility.

Making matters worse is that not only is this competition coming from out of nowhere, but it’s being accelerated by two conjoining forces: the adaption rates of technology and the negative business conditions of these recession years. In short, businesses of all types and sizes are under attack from all directions and are ill prepared to either defend their positions or to launch a counterattack. The only thing we know is that disruption to our status quo has either arrived or is loudly banging on the front door.

For any company to survive the disruption they are facing, they are going to need to revitalize their business and their business model. Doing so is easier said than done and for many companies it’s not going to just be tweaks to the way they do business, but it will mean fundamental changes that may leave their business unrecognizable when all is said and done.

The steps to revitalizing a company are as unique as a company itself, but there are some general guidelines that a business should keep in mind if it decides to undertake the exercise.

Start from the worst place possible – you need to assume that there is nothing right with your business and then prove to yourself otherwise. That means looking at every single activity and function of your business as well as everything you believe about your people, your industry and your reality. Everything must be challenged.

Think outside the box – there is a level of creativity required to look at your business in an entirely different light; as such, don’t throw out or discredit any idea, no matter how crazy it is until it has been fully vetted.

Make yourself uncomfortable – we all have comfort levels with our businesses and that is why they have been as successful as they have. However, in starting the process of revitalizing your business, you are making a tacit acknowledgement that the status quo is broken. Fixing it will likely require you to consider changes that will fundamentally change your status quo, and that needs to be embraced.

Nothing is sacred – every business has customers, employees, vendors, attitudes, and processes that have been a part of getting the company to the current point. Unfortunately, they may be holding you back and dragging down the business or they will prevent you from making changes you need to make. If they don’t add value you must be willing to make that break, no matter how personal a decision it is.

I know it sounds scary to do this, but it’s much better than the alternative and the result of becoming a renaissance company is that you will be better positioned to succeed in the competitive world of business. If you are really good, you may even be the one disrupting somebody else’s business. Wouldn’t that be a nice change!

Buying out the Boss

michael — Fri, 02 Sep 2011 12:27:33 +0000

Are you a key employee or the next generation in a family owned business? If so, you've likely thought about making the next step in your career, one where you can transition from the ranks of the employed to the fraternity of business owners. If you haven't thought much about, what are you waiting for?

Its a great time to be young and in business. In the coming years, millions of baby boomer business owners are going to transition their ownership to the next generation of business owners and they are going to be looking for younger risk takers willing to step up to the plate and take on the challenge of owning a business. Unfortunately, buying a business can be a challenging undertaking as there a host of complex personal and business issues that need to be addressed during the process.

To help future business owners and the owners who are thinking about selling to this next generation, we are pleased to announce an upcoming seminar "Buying out the Boss: How to Acquire the Business You Work For". Hosted by me, Michael Vann and Jeffrey Fialky of Bacon Wilson, P.C. this informative seminar will provide a wealth of information on topics such as:

Do you really want to own a business
Terminology you need to know
Determining value
Why price doesn’t necessarily mattet
Legal entities and the tax man
Bank financing realities
How to get creative when you don’t have any money
Employment Agreements, Consulting Contracts and other legal documents
How to get the deal to close

The event is going to be held September 22nd at the world famous Hu Ke Lau in Chicopee; cocktails begin at 5:30 and Jeff and I will present at 6 for about 45 minutes. After that more networking will occur. We hope you can join us for some learning and some egg rolls. Register by clicking here, or go directly to the site http://buyingouttheboss.eventbrite.com/

Marketing Assistant Needed

michael — Wed, 10 Aug 2011 11:59:40 +0000

The Vann Group is currently seeking a Marketing Assistant to handle marketing activities for its various operating companies. The ideal candidate will be proactive, detail oriented, able to easily multi-task and have exceptionally strong comprehension and writing skills. Primary job responsibilities include the following:

Develop, send and monitor weekly/monthly email newsletters for each of our companies, which will require writing for different audiences.
Utilize current and past content to develop, market and disseminate a broad range of marketing material that is both promotional and educational. This includes White Papers, handouts, PowerPoint Presentations, etc.
Assist with the development, marketing and schedule of podcasts, and webinars.
Maintain and update website content on an as-needed basis to ensure it reflects current activities and messaging.
Develop and maintain social media activities such as LinkedIn Groups, Facebook fan pages, Twitter accounts, etc.
Drive SEO by promoting content/events on SEO friendly sites like Digg, Scribd and create back links on relevant third party sites.
Identify concepts and related sources for blog, white paper and presentation topics and write blog posts on an as-needed basis.
Grow/maintain the general and company specific customer databases to ensure that all information is correct and permissions are maintained.
Provide reports on website analytics/metrics obtained from third party services and tools such as Google Analytics

The qualified candidate will have the following skills:

Excellent Writing and Editing Skills: Need to convey ideas effectively
Excellent Computer Skills: Very proficient in the use of Excel, Word and PowerPoint, and the Internet. Familiarity with WordPress and Adobe Photoshop is a plus.
Organized: Able to manage multiple projects.
Superior attention to detail.
Proactive: Can work independently when required and looks for ways to go beyond.
Strong Interpersonal Skills: Able to get along well with others and create productive working relationships.
A Bachelors Degree and/or related work experience is required.

If you or someone you know may be interested in this position, please email Michael Vann at michael.vann@vann-group.com or Brendan Brown at brendan.brown@vann-group.com

Analyzing Facebook Connections

michael — Sat, 16 Jul 2011 15:57:23 +0000

Sometimes I have a horrible time sleeping and find myself awake at odd hours of the night. Last night happened to be one of them, so I decided rather than try to fall back asleep that I would get up and do a little work. When I opened up email, I had a Facebook friend request from someone that I really had no idea who they were.

I’m not the type to use Facebook for anything particularly personal, so I generally accept all friend invitations; assuming that the person is a friend of someone I am a friend of. I’m now up to 328 friends. It being 3:30 in the morning and my attention span limited, I thought it would be an interesting exercise to graph out the nature of my Facebook relationships. In doing so, I categorized my “friends” in the following categories:

Family – this includes people like my wife and siblings as well as my wife’s cousins and my sister-in-law. I have 7 family members on Facebook.

Foxhole – these are people that I consider more than friends – they are like brothers and are the people I know I could call in a moment of crisis and they would be there. 4 of my foxhole guys are on Facebook.

Current Friends – these are people that I currently socialize with; they might be the spouse of a friend, my wife's friends or even my friends. But, generally these are people that we might invite over or that we are going to see if we go somewhere. 17 of my connections are current friends.

Old Friends – these are people that once upon a time I was close to but for whatever reason I don’t get to see or talk to as much anymore. These are the type of friend that if you ran into them, the friendship would pick up like you never missed a beat. I have 43 of these on Facebook.

Business Associates – these are people that I do business with, either via networking or who I happened to meet because of business. I have 31 Facebook friends that are business related.

Old Flames – yup, that means exactly what it means. These are old girlfriends and related romantic pursuits, serious or otherwise that I have connected with on Facebook. I was rather surprised to find that I had 12 of these connections.

Shared Circle – these are people that I probably hung around with at one time or another. Maybe it was a fraternity brother or some guys/girls who used to run in the same group in high school. These are generally shallow relationships but you could probably get through a 5 or 10-minute conversation before it went stale. I counted 113 of these relationships on Facebook.

Acquaintances – these are people that in high school or college that I probably said hello to in the hallway or had a brief conversation at a party with. These are the friend of a friend that you knew but there is no relationship or commonality to speak of. I am connected to 70 of these people on Facebook.

Name Rings a Bell – these are people who I am not exactly sure who they are, but the name sounds familiar or the picture looks like somebody I seem to recall. I’ve got 12 of these people on my connections.

And You Are – extremely self explanatory; I have no idea who these people are, but apparently some of my friends do. I’ve got 19 of these connections.

I think within the data what I was most surprised by was the number of business relationships on Facebook. Connecting with people I do business with is not something that I have actively sought out, as I do that with LinkedIn. However, it appears that others are beginning to see the utility of combining business with personal and blending the lines of the two.

I also looked at the connections in the context of the new social network, Path that limits you to 50 connections and I after analyzing my names I think I could get down to that pretty quickly. I’m not sure if Path is going to be successful because I think there is a fascination with being connected with your past, but if I was truly interested in deep sharing, I’m inclined to think I might check out Path.

Some other quick notes about my connections:

I am connected to 9 Amy’s, although one spells her name a little different than the others
I am connected to 4 Jamie’s and 3 of them are guys
Fourteen of my connections share my name; Michael is by far the most popular name of my connections.
Only 5 people don’t have a profile image; everyone else has some type of picture.
Of those pictures, 47% of them have another person in the picture; either a kid, a family or them with a kid/family member or friend.
10 people use cartoon characters as their image; in most cases its an improvement over their regular picture!
The most connections that any one friend has is 1,164 and the 2^nd most is 965. The lease amount of connections is 14.
56 friends like the Boston Red Sox, by far the most popular like out of my friends likes. 19 happen to like Victorias Secret while 13 like Coors Light; not sure what those 13 are thinking.
I've personally liked 82 different things; I don't remember liking most of them, but it says that I do so I must like them.

What it all means, I have no idea, but when you can’t sleep its amazing what you will do to keep yourself busy! Maybe next time I’ll tackle my LinkedIn profile but don’t hold your breath on learning about my twitter account. I have no idea who any of those people are!

Wonder Wheel, Where Are You?

michael — Sat, 09 Jul 2011 18:36:05 +0000

A big congratulatory shout out to the team at Social Turbine, for having their post "Google + and the Disappearance of the Wonder Wheel" featured on Social Media Today. Frankly, I had never heard of this Google feature but according to the guys at Social Turbine, its going to be sadly missed in the social mediasphere. Please be sure to check out the post and if you still haven't figured out what the Wonder Wheel is and why it will be missed, I suggest getting in touch with Social Turbine; they can provide you with everything you need to know about social media and if they do a good job, they will have you convinced that you should outsource your social media management to them.

And, I will close this post by stating the obvious - Social Turbine is the Vann Group's team of social media management guru's. Be sure to check them out. Also, don't forget to follow us on Twitter and like us on Facebook. You'll be happier if you do!

Technology Tools for The CEO

michael — Sat, 25 Jun 2011 12:37:17 +0000

I had the wonderful opportunity to present to CEO's of the Human Service Forum CEO Roundtable yesterday with Delcie Bean of Paragus IT. The presentation topic yesterday was Technology Tools for CEOs. I focused on tools that CEO's can utilize to make their lives a little more efficient and effective while Delcie's presentation focused on enterprise wide solutions that companies and non-profit organizations can utilize.

The presentation was a lot of fun and I really appreciate the feedback and interest from all the CEO's. This group clearly understands that technology is going to change the way the operate their businesses and deliver their services. Its great to see CEO's embrace the potential of technology. If your interested in getting the slides, just email me at michael.vann@vann-group.com

Entrepreneurial Genes

michael — Mon, 30 May 2011 14:22:49 +0000

Happy Memorial Day everyone. I would much prefer to be outside doing something, but in typical New England fashion, its is raining for the time being. While its not fun to be in the house, I had the opportunity to catch up on some reading this morning and came across a pretty interesting site - www.startupgenome.cc

The site conducted an analysis of what makes Silicon Valley start ups successful. While focused on technology start ups, I thought that the findings were easily applied to start ups in general. You'll have to go to the site and download the study, but the key takeaways I thought were interesting and could be applied to any start up are the following:

Those that learn are more successful; those that rely on mentors, track metrics and gain insights from thought leaders succeed more than those that don't.
Those that pivot raise more money; basically, a little failure is good because it allows you to change course and modify behavior and business model.
Investors generally invest 2-3 times more money than necessary.
Business heavy teams are 6.2 times more likely to scale than technical heavy teams
Most successful are driven by impact rather than experience or money.
Need 2-3 times longer to validate their business model than founders expect.

All in all, I thought these were some pretty good insights. Be sure to check out the study. And, if your doing a start up, you'll find the insight on the types of start ups really interesting. There is a test you can take to benchmark your company. I took it for Hire EQ, our recruitment process outsourcing solution for small/mid-size businesses and found it was a Type 3 - The Challenger. The description fit perfectly.

Event: Social Networking Media and the Workplace, June 16

Deanna — Wed, 13 Apr 2011 16:07:55 +0000

Social Networking Media and the Workplace: The Good, the Bad, and the Ugly. Please join Mike Vann & Amy Royal on June 16, 2011 in the NUVO Bank Community Room from 8:30-10:00 for the discussion. Registration starts at 8:15.

With a few clicks of a button, your job opening, via a social networking website, can reach thousands of active and passive job seekers. In fact, utilizing social media as a recruitment tool is an effective and inexpensive way to promote job openings and expand the pool of potentially qualified applicants. Social media is also an easy way to check into an applicant’s background since they are otherwise an unknown commodity. Often times, individuals are lax in what they post on their profiles on social networking websites. In accessing an applicant’s profile as part of your hiring process, you can gain valuable insight into an applicant’s general character and traits, their judgment and any undesirable behavior.

Looking into an applicant’s online profile, however, can spell trouble. On social media websites, users often times post information about their religion, sexual orientation, age or other information, which you otherwise would not have access to in the hiring process. Accessing such information can increase your risk for a discrimination claim or claim that you have invaded that individual’s privacy.

Join Amy B. Royal, Partner, Royal LLP, Michael Vann, of The Vann Group, on June 16, 2011 in the NUVO Bank Community Room as they discuss the benefits and the drawbacks of using Social Media during the hiring process and generally in the workplace. Registration is at 8:15 a.m. and the program runs from 8:30 a.m. – 10:00 a.m.

If you have any questions or concerns please feel free to contact us. We hope to see you there!

The Mind of the CEO

michael — Fri, 01 Apr 2011 08:47:48 +0000

I don't sleep much. Its not because I don't like to sleep or because my need for sleep isn't that great. In fact, I rather like to sleep (particularly when its cold) and I would love to get a solid 6-8 hours a night. And, its not because I'm an insomniac or some medical reason like that.

No, my sleep affliction is entirely self inflicted because sometime in my past I decided to become a CEO. At the time, it seemed glamorous - who in business doesn't want to be Steve Jobs or Jack Welch? The fame, the money, the power the accolades the sense of accomplishment that comes from being the boss - what's not to like? Turns out there is a lot..

Taking on CEO responsibilities means lots of things - most of which are good and exciting. But, there is a darker side, a burden so to speak about the role. Its the mental mind game that we play in our heads; it happens most frequently in the middle of the night when our families are sleeping but also happens when we are driving or even out for a beer or two with the boys. Really, it doesn't matter where we are because we are constantly engaged in mental gymnastics about the business. We second guess and over think every imaginable interaction and decision. To the dismay of our families and friends, we get lost in the mind of being the CEO.

Until I read this post today by Ben Horowitz, the subject of the psychology of the CEO had never been really discussed in public. As Horowitz indicates, CEO psychology is just like fight club - first rule is don't talk about it. This post does a great job of explaining why we don't sleep, why our sense of humor isn't what it once was, why we never seem to relax and why we can't seem to let work go. Its because we are playing a game of Chess against ourselves and its not easy to let go of it.

Now, I'm not blogging about this because I'm expecting or hoping for sympathy for the CEO/owner who lives like this. Quite the contrary - I embrace this fully because to be candid I don't really know what I would do without it. I'm assuming I would be quite lost if I didn't have this burden of a mixed blessing in my life. I love being lost in my head and over thinking the same situation over and over again. I also get a bit of an adrenaline rush of having 30 emails sent before 4:35 am; there is something strangely exhilarating and primordial about being ahead of the game at the start of the day.

So. the reason I'm sharing it is two fold. First, it brings to light a challenge those of us who own or run businesses with face constantly. We all joke about it, but never do anything to address it. Secondly, Horowitz provides two tools to help with it. The first - get a group of friends you can talk to about it. I've got a great group that I meet with on a monthly basis that understands and helps solve problems. The other solution he suggests is to think through the problems that keep you up by writing it down; I'm a big believer in working things out this way and I find it incredibly helpful. I strongly suggest both as a solution to help alleviate your mental mind games.

Oh, and to further illustrate my point, I'm completing this blog at 4:45 am. Good start to the day.

The Vann Group Announces Affinity Program Partnership with The Massachusetts Association of Realtors

Deanna — Tue, 19 Oct 2010 13:01:57 +0000

We are pleased to announce that The Vann Group is now The Massachusetts Association of Realtors' (MAR) Affinity Program provider of succession planning and transactional advisory services. This new relationship with MAR will allow The Vann Group to fulfill our mission while providing the knowledge and services surrounding succession planning and transactional advisory services that is needed in Massachusetts.

Our services include:

Succession Planning

The Vann Group’s Succession Planning Services are unique to each customer. We help identify candidates and provide guidance in positioning the agency to be attractive to potential buyers.

Agency Divestiture & Acquisition Services

• Valuation of Agency

• Identification and Contact of Targets

• Due Diligence Services

• Negotiation and Facilitation

• Development of Marketing Strategies

• Financing assistance-direct and indirect

• Deal Structuring for Tax, Financial and Operational Issues

Please feel free to contact us if you have any questions regarding succession planning or agency divestitures or acquisitions, 413.543.2776 info@vann-group.com

We are also participating in MAR’s Annual Tradeshow and Conference held in the DCU center in downton Worcester, MA from Tuesday, October 19 to Wednesday, October 20. If you happen to be attending the conference please stop by our booth, #412 to visit! We look forward to seeing you there!