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Payrollin'
Payrollin' episodes
- How To Craft Your Marketing Strategy for Selling Season and Beyond | Karen Altman | Episode #22
In this episode, Matt chats with Karen Altman about year-end marketing strategies. Karen is the Director of Marketing at guHRoo and she oversees all marketing initiatives. In this episode, Matt and Karen discuss the following and more:
- The goals and marketing strategies for the 4th quarter of 2021
- Marketing successes and failures
- Potential marketing obstacles and opportunities during selling season
- How to earn trust by providing superior value
Three Takeaways
- It takes seven hours of interaction with a prospect on average to win a new deal. Using automation and content allows you to create trust and value without having to talk to all of your prospects for seven hours.
- Ensuring we're in front of our current clients and meeting their needs is just as important as trying to attract new clients. Client retention and referrals can be your biggest revenue drivers.
- The more you give, the more opportunities you will create. If you consistently give out valuable information, you'll earn trust, and your brand will become known for being more than simply a commodity.
Subscribe Now!
Apple | Google | Spotify
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
Enjoying the show?
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve.
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
About the Guest
Karen Altman is the Marketing Director at guHRoo. She develops the marketing strategy and executes all marketing initiatives to increase inbound leads and grow the payroll and HR outsourcing business.
Karen has been with guHRoo for close to three years and has nearly 10 years of marketing experience.
Resources
Marketing Case Study - How we 10x’ed Our Inbound Leads
Three Keys to Expand Your Payroll Business
Selling in a Virtual World
59 min - Growing Through Acquisition - When does it make sense to acquire payroll companies?
In this episode, Matt chats with Matt Morley about acquiring payroll companies or payroll books of business. Matt is the Chief Investment Officer at Pendleton Street Business Advisors. His responsibilities include business analysis, investment research, and coordinating work-product for client engagements. In this episode, Matt and Matt (Matt squared) discuss the following and more:
- Should you grow organically or via acquisition?
- The challenges of growing via acquisition
- How to evaluate and finance deals
Subscribe Now!
Apple | Google | Spotify
Three Takeaways
- Acquisitions allow you to grow faster than organic growth and provide built-in infrastructure and opportunities for operational improvement.
- Don’t ignore the obvious downsides of a deal. The light will shine on all aspects of a deal before it closes.
- Deals are not as hard to finance as you think. The SBA programs are not only good financing mechanisms but also help to evaluate the deal itself.
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
Enjoying the show?
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve.
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
About the Guest
Matt has an eye for numbers, a head for strategy and a keen ability to marry clients’ future goals with current business reality. At Pendleton Street Business Advisors, he lends his analytical gifts and thoughtful processes to all aspects of clients’ personal and company finances. As the firm’s Chief Investment Officer, his responsibilities include business analysis, investment research, and coordinating work-product for client engagements.
Prior to co-founding Pendleton Street Business Advisors with John Barnes in 2013, Matt served as the Chief Investment Officer of WHM Capital Advisors, LLC. A graduate of the University of South Carolina, he is a Certified Valuation Analyst, Certified Exit Planning Advisor, and he has completed the FINRA Series 65 Uniform Investment Adviser Law Exam in order to register as an investment adviser representative.
Resources
Marketing Case Study - How we 10x’ed Our Inbound Leads
Three Keys to Expand Your Payroll Business
Selling in a Virtual World
57 min - The Value of Niching Down | How Mike Ritzema Grew a Niche Payroll Company
In this episode, Matt chats with Mike Ritzema about niching down and focusing on one industry. Mike Ritzema is the President and founder of Superior Trucking Payroll Service. In this episode, Matt and Mike discuss the following and more:
- "The riches are in the niches" - how to stay focused on one industry.
- Should you create your own software? Pros and cons of programming your own software.
- Anyone who is an expert in everything, is an expert in nothing. Stay in your lane.
- How to get traction in a niche.
Three Takeaways
- You have a larger addressable market by niching to an industry vs. going local. Mike could never sell to all the trucking companies. Don't have a scarcity mindset.
- When you focus on one industry or niche, you create *positive* forced constraints. You are marketing, serving, and speaking directly to your target audience at all times.
- There is less competition when you are focused on one industry. You differentiate naturally and can better serve your target market. It is easier to acquire customers, hire, and grow.
Subscribe Now!
Apple | Google | Spotify
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
Enjoying the show?
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve.
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
About the Guest
Mike is the President of Superior Trucking Payroll Service. Superior Trucking Payroll service helps trucking companies save money on their payroll through constantly researching best practices in the trucking industry. We serve clients nationwide.
http://www.truckingpayroll.comResources
Marketing Case Study - How we 10x’ed Our Inbound Leads
Three Keys to Expand Your Payroll Business
Selling in a Virtual World
1 hr 2 min - How to Improve Your Implementation Process | Jason Gullett | Episode #19
In this episode, Matt chats with Jason Gullett about all things implementation. Jason is the Director of Client Success at guHRoo and oversees new client onboarding. In this episode, Matt and Jason discuss the following and more:
- The implementation process - front to back
- Mistakes we have made when setting up new clients and how we fixed them
- How we learn what to improve and how we execute those improvements
Three Takeaways
- Client onboarding is the most important part of the relationship. You can control the success of the relationship by having a great process in place.
- Your onboarding process is never “done”. You can constantly improve and you can never do too much to improve the experience for your clients.
- Managing and creating expectations is critical. Offering a “you are here” throughout implementation is very helpful for clients.
Subscribe Now!
Apple | Google | Spotify
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
Enjoying the show?
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve.
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
About the Guest
Jason Gullett is the Director of Client Success at guHRoo. He leads the Account Management team for all clients and works diligently to ensure that projects and timelines are on track.
Jason is passionate about making sure that the customer experience is one to be desired and that the relationships built during the implementation process continue to grow.
Jason has been a member of the guHRoo team for nearly two years and has a deep history of consulting, implementation, and project management.
Resources
Marketing Case Study - How we 10x’ed Our Inbound Leads
Three Keys to Expand Your Payroll Business
Selling in a Virtual World
55 min - LinkedIn: Why You Need to Focus on the Platform and How to Grow Your Audience | Episode #18
In this episode, Matt shares "how to do LinkedIn". He covers the below and more!
- Why should you be active on LinkedIn?
- What is your niche?
- What should you talk about?
- Who am I talking to?
- How to optimize your profile
- How to grow your community
- Why and how to engage with others content
- How to create engaging content
- Repurposing content
____________________________
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
____________________________
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve. It only takes five seconds. Do it!
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
____________________________
About Matt
Find Matt on LinkedIn here: https://www.linkedin.com/in/mattvaadi/
41 min - Cheryl Whelan, IPPA - How to Differentiate Your Payroll Business, the Value of Associations
Today Matt chats with Cheryl Whelan, the Executive Director of the Independent Payroll Providers Association (IPPA). They talked about the value of membership in IPPA and what it takes to create a successful payroll business. Here are a few things they covered:
- How do you become a trusted advisor for your clients?
- Ways that you can differentiate your payroll company
- How the IPPA provides content for every role in your company.
- In-person vs virtual events. The future of IPPA events.
- Learning from your peers. Why sharing is caring.
- Why should you join the IPPA?
____________________________
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
____________________________
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve. It only takes five seconds. Do it!
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
____________________________
About Cheryl:
Since joining the IPPA team in 2006, Cheryl has gained experience working on membership drives, conference planning and vendor management. In her current role as Executive Director, she is responsible for overseeing all aspects of the association, driving innovative ways to support the membership and hitting financial targets.
Cheryl reports directly to the board, bringing IPPA’s mission to strengthening relationships, sharing best practices, providing education, and driving compliance awareness to life. When not in the office, she enjoys cheering on her alma mater, the University of Missouri, and traveling with her husband and seven-year-old son.
42 min - How do you become a trusted advisor for your clients?
- Why Clarity Matters in Growing Your Payroll Company | How to Achieve Your Vision
In today’s episode, Matt chats with Jeff Garrison from Results on Purpose. Jeff coaches payroll bureau owners and leadership teams. They covered a wide range of topics including effective strategy, leadership, operations, how to align your team with the vision, and more.
During this insightful episode, Matt and Jeff cover the following topics:
- The importance of leaning into your strengths.
- The significance of having clarity of vision.
- The right mindset to achieve your goals.
- What a leader's perspective should be.
- How strategy affects the outcome.
____________________________
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
____________________________
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve.
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
____________________________
More about Jeff:
Results On Purpose was created to help entrepreneurs and their leadership teams imagine their future and then to make it true. It is the reason our company exists.
Jeff is passionate about using the Results On Purpose approach for entrepreneurs, which is combined with CliftonStrengths, to help entrepreneurs and leadership teams increase profit, accountability, and enjoyment in their enterprises. The system is made up of tried-and-true ideas and tools that provide any firm the foundation it needs to grow in sales, profit, and greatness.
More importantly, business owners and their leadership teams become great leaders, inspire loyalty and commitment from both their employees and their customers, and have a positive impact on the lives of their people and their community. Results On Purpose is dedicated to helping entrepreneurs and business leaders perform at peak levels individually and in teams to make a positive impact on the lives of their employees, customers, and community.
1 hr - The Difference Between Growing and Scaling | Driving Up Your Valuation
Today on the podcast, Matt sits down for a chat with guest Matt Morley. Matt has an eye for numbers, a head for strategy, and a keen ability to marry clients’ future goals with current business reality. At Pendleton Street Business Advisors, he lends his analytical gifts and thoughtful processes to all aspects of clients’ personal and company finances. As the firm’s Chief Investment Officer, his responsibilities include business analysis, investment research, and coordinating work-product for client engagements.
____________________________
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
____________________________
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve.
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
____________________________
Show Notes:
0:37 What are some of the things that business owners do that devalue their business?
2:43 When is the right time to start adding services for your business?
4:54 "I think the bigger challenge is cutting something lose that is not working because we all want to be right..." - Matt Morley
6:46 What's the difference between growth and scale?
6:49 "In order to scale you have to grow but just because you're growing doesn't mean you are scaling." - Matt Morley
12:58 Is there any inflection point from headcount or maturity perspective we start to see less reliance on ownership or key players?
15:42 Why is it important for business owners to know their own numbers?
23:36 "If you're growing your business's value intentionally by addressing risk and opportunities that can add value a lot of times a buyer you never expected will come around" - Matt Morley
27:39 What niche are people not actually talking about enough?
33:35 Will it increases the value of your business or will it be a distraction?
38:35 "There are a million right answers. You just have to pick one and run with it." - Matt Vaadi
45:29 Business value is not just about dollars.
Who is Matt Morley?
Matthew Morley is a financial advisor based out of Columbia, South Carolina, who has been in the financial industry for 12 years. Morley is an advisor for Pendleton Street Advisors, LLC. During their career, Morley has held roles at Whm Capital Advisors, LLC and Pendleton Street Advisors, LLC. Morley has a Series 65 license, which qualifies them as an investment advisor representative, and can work in North Carolina, South Carolina, and Virginia.
Prior to co-founding Pendleton Street Business Advisors with John Barnes in 2013, Matt served as the Chief Investment Officer of WHM Capital Advisors, LLC. A graduate of the University of South Carolina, he is a Certified Valuation Analyst, Certified Exit Planning Advisor, and he has completed the FINRA Series 65 Uniform Investment Adviser Law Exam in o
57 min - How Matt Lovitz Onboards Hundreds of New HCM Deals Every Year
In this episode, Matt chats with Matt Lovitz, a Business Consultant at BerganKDV. On a day-to-day basis, Matt helps companies manage their business risk and solve operational, technology, and fiscal challenges they might face. He works at a fast pace and is able to win clients and prospects over by how he operates — focusing on the consequences of not moving from the status quo.
____________________________
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
____________________________
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve.
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
____________________________
Show Notes:
00:41 Matt talks about how he became a master of efficiency
03:59 What is a COI or Center of Influence? How to grow your referral channels
10:34 Matt's use of the CRM
16:04 Why it is important to have a Sales Process
20:45 “Go work on folks that might actually be a good partner for your business instead of trying to chase down deals that are just not a good fit” - Matt Vaadi
23:54 Local as a Value Prop
28:33 “But when you lose it’s also equally as important as the one you win to find out why” - Matt Lovitz
31:35 Why asking the best questions means everything
42:55 Getting time with people and cultivating relationships are part of the Sales Process
More about Matt Lovitz
Matt graduated cum laude with a degree in economics from St. Cloud State University, is the president of the St. Cloud Sertoma Club and is co-founder of the Veteran Valor Farm.
BerganKDV is a leading professional services firm with a contagious culture; where growth is fostered and making a difference means something. Our values drive our decisions and our passion is empowering people and creating wow experiences for our clients.
Matt Lovitz was recently named 2018 Sertoman of the Year by the St. Cloud Area Sertoma Club. Lovitz works in BerganKDV’s St. Cloud office, where he is the market sales leader.
“Matt is known as a go-getter and he uses those talents to serve his community,” said St. Cloud Market Leader Russ Sand, “Matt is in charge of fundraising for the Sertoma organization, and not surprisingly, the organization recently had its most successful fundraiser ever, with more than $21,000 raised in one evening.”
Resources:
Email: [email protected]
LinkedIn: Matt Lovitz - Business Consultant, Nonprofit Leader, Veteran
Phone: 320 229-6134
Bergankdv.com
Veteranvalorfarm.org
54 min - How a Shorter Work Week Improved Fivable's Productivity
In this episode, Matt talks with Bryan Murdaugh at Fivable about going to a 4 day work week. Fivable adopted a rotating 4-day work week as an experiment back in May 2020.
In February 2020, Fivable was 100% co-located in their Irmo, SC office. After the 4 day work week implementation, in August 2020 Fivable was located in 4 states, 3 time zones, and just one or two members of their team will find their way into the office during the day.
Fivable’s 4 day work week experiment worked well enough that they are still on that same schedule today. Fivable saw productivity increase, employees needing less PTO, and an overall happier environment.
Listen as Matt and Bryan discuss what the 4 day work week looks like and how Fivable implemented the change while balancing the needs of their clients.
Here are some topics that are covered.
- The initial results seen in productivity when Fivable made the 4 day work week switch.
- How The Fivable 4 day work week was structured in order to still meet client needs.
- Tools to make remote work successful
- What would Bryan change about the process of going to a 4 day work week?
- What Are Some Simple Automations To Fix Dull Mundane Tasks
____________________________
Ways we can help you:
-> Want to grow your payroll company? Click here.
-> Looking for easy-to-use White Label HR Software? Click here.
-> Want to sell your payroll business or make a partial exit? Click here.
-> Want to grow your personal brand on LinkedIn? Click here.
____________________________
*Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve.
*Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message
*Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters
____________________________
About the Guest Bryan Murdaugh
Bryan is a web nerd. He started Fivable in March 2010 to make the web a more beautiful place. That appreciation for beauty has shaped the web into a more useful place. Bryan helps businesses to reach more people, improve the way their business moves data, or tell their business story with eloquence.
Fivable has been particularly successful with innovative hardware startups, service companies, and non-profits afraid they're limiting growth by using paper-based systems, frustrated that their teams depend on multiple systems that don't talk to each other or have a great idea to make their product connect to cloud-based data capture systems. At the end of the day, Fivable creates well-fitting web software systems that help their clients save time, minimize frustration, and maximize profitability.
59 min
About Payrollin'
From the publisher's feed
The nationals are coming for your clients. Consolidation is crushing margins. And if you're not keeping up with the latest in the payroll and HR industry, you're going to get left behind.
Welcome to Payrollin'. The no-BS podcast for independent payroll bureau owners and leaders who are done getting squeezed by ADP, Paychex, and the private equity machines swallowing up the industry.
Hosted by Matt Vaadi, founder of guHRoo (a PEO) and Outsourced Scale (offshore staffing for payroll providers), this show delivers the strategies you need to survive — and thrive — while the middle collapses around you.
Every week, you'll get:
→ Industry intel on the billion-dollar deals reshaping payroll
→ Proven tactics to scale past the 7-figure barrier
→ Real talk on margins, pricing, and profitability
→ Strategies to compete without killing your bottom line
→ Guests who've sold, scaled, or disrupted the status quo
Whether you're fighting margin compression, exploring industry partnerships, or figuring out how to scale without sacrificing service, this podcast cuts through the corporate speak and gives you actionable pathways forward.
Because if you're not specializing in a niche or adding serious value beyond commoditized payroll, you're racing to the bottom.
Subscribe to Payrollin' and join 1,000+ payroll industry professionals who get the Wednesday newsletter breaking down what's happening in the industry — and what it means for your business.