By Rich Daughtridge
The podcast currently has 20 episodes available.
If you have not heard the first part of this conversation with Nathan Cox and Brad Israel, you should hit pause and find it just before this episode in your podcast player. That first portion of the conversation builds the foundation for this second half, so you’ll want to go back and listen to it first!
Nathan is the founder and CEO of 68 Ventures. As CEO, he serves as the leader, visionary, and culture driver for the respective companies that fall under 68 Ventures’ umbrella. Brad is the chief leadership advisor. As chief leadership advisor, he speaks and consults with companies and teams on leadership development.
68 Ventures is a vertically integrated real estate company with an extensive portfolio of companies that work within every aspect of real estate “from trees to keys” along the Gulf Coast. Their focus is on development, construction, real estate, and related services within the region. This is a conversation about implementing competency modeling, some of 68 Ventures’ core values, and how to balance life and business in a season of tremendous growth. Listen in to this episode to hear what they have to say!
Highlights from this episodeIn part one of my interview with Nathan and Brad, we talked about where they both came from and how they grew up together attending the same grade schools. We talked about Nathan’s football abilities and his experience playing for Alabama. We chatted about Brad’s trajectory from the military to his career and then how he and Nathan began working together through 68 Ventures. If you haven’t yet listened to that episode, go back and listen to it first! This second half of the conversation is going to be all about implementing competency modeling and how you can balance life and business while in a season of tremendous business growth. Listen to hear practical steps for how you can balance your personal and professional life — you do not want to miss this conclusion!
Implementing Competency ModelingCompetency modeling gave me a paradigm shift around making sure that I can define what success looks like and giving an individual, pre or post-hiring, a framework for how success is measured. The truth is, people want clarity in their roles and responsibilities, and everybody wants feedback on how they’re doing. I know that modeling competency on a monthly and quarterly basis in the last couple of years has completely changed our organization. So I asked Nathan and Brad to speak to competency modeling and the impact it has had in their own business.
Nathan shared with me that it was painful at first to implement competency modeling because they were experiencing 30% growth year over year. It took a lot of patience and over-communication to get everyone to buy-in to the idea of slowing down to start a new performance evaluation system and implement new training on how to do things. However, it’s been completely worth it because now any new startup that joins the 68 Ventures portfolio, knows no different — it’s just the way they do things. Listen in to this episode to hear just how transformational competency modeling has been for 68 Ventures!
Balancing Life and Business as a Busy EntrepreneurAs entrepreneurs, it’s easy to get caught up in the daily grind of growing a business. So much so that one or more areas of our lives can begin to be neglected. I asked Nathan and Brad to share with me how they balanced their personal and professional lives during those rocky seasons of growing their business. The insight they both gave me was fantastic, but the bottom line is this: you can’t be all things to all people and you need to be in control of your schedule instead of letting it control you. Listen to this episode to hear their best practical advice for balancing both professional and family life!
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Imagine a vertically integrated real estate company with an extensive portfolio of companies that work within every aspect of real estate “from trees to keys.” That’s exactly what my two guests on this episode, Nathan and Brad, have built along the Gulf Coast.
Nathan Cox is the founder and CEO of 68 Ventures. As CEO, he serves as the leader, visionary, and culture driver for the respective companies that fall under 68 Ventures’ umbrella. Brad Israel is the chief leadership advisor. As chief leadership advisor, he speaks and consults with companies and teams on leadership development.
Their company, 68 Ventures, is focused on development, construction, real estate, and related services within the region. This is a conversation about all things culture, growth, what matters to them, and how they treat their employees and their team. Listen in to this episode to hear what they have to say!
Highlights from this episodeEffectively, 68 Ventures is a vertically integrated organization that’s centered around real estate and construction along the Gulf Coast. Their goal is to be able to simply explain how anything they’re involved in fits and ties into what they’re trying to accomplish. According to Nathan, it seems like they have a complex operation going, but when it boils down it’s very simplistic.
How did 68 Ventures come to be? Upon returning from his deployment, Nathan began as a real estate agent and grew from there to open up a one-man brokerage firm. One of his friends, Charlie Dodson, joined him there and they continued to grow over time into new arenas. They were able to grow into these new spaces because people either weren’t in the space already or people lacked the licenses to help them get something started and be able to springboard and grow in that area. Listen in to find out how they were able to scale their own business and how they do the same for other businesses now!
Culture Code and Core Values: Central Criteria for Partnering with CompaniesIt is important to make sure that companies are aligned with 68 Ventures’ culture code and core values before partnering with them. They want to bet on leaders who understand their values and are totally bought into their purpose, which is to see all they can do with all they’ve been given. Once they find leaders who fit their culture and align with their core values, they want to give them everything they need to succeed.
In Brad’s own words, “you get what you tolerate.” If you don’t set standards and put people in the position to be successful and provide them the training necessary through onboarding, there will be confusion. There is a reason the same core values and purpose statement is across all companies that they’ve partnered with — so that things can run as smoothly as possible across the network. Listen in to this episode to hear more about meeting company culture criteria before partnering — and the rewards they’ve reaped by doing so!
Using Insight Discovery Profiles Before Hiring SomeoneNathan mentioned to me that Brad administers Insight Discovery tests to everyone before hiring them. He said he would rather take his time to vet someone and see how they lead and manage and communicate as a team so that he can have proper expectations that are in alignment with who they are as a person. It is better to slow down and take the time before hiring someone that isn’t a good fit. It’s not only expensive to unwind and exit an ill-fitting partner, but it also creates emotional turmoil for everyone involved. Listen to hear exactly how you can avoid making this type of mistake!
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If you’ve not heard the first part of this conversation with Doug Ulman, you should hit pause and find it just before this episode in your podcast player. There were so many excellent nuggets of information in that portion of the conversation, you’ll want to go back and listen to it first!
Doug is responsible for overseeing the strategic vision and direction of Pelotonia and also serves as an advisor to The Ohio State University Comprehensive Cancer Center. Pelotonia is a community determined to see an end to cancer. Their mission is to engage, inspire, and challenge a community committed to changing the world by accelerating innovative cancer research. Since Pelotonia’s inception in 2008, over $218 million has been raised to fund cancer research, and 100% of those proceeds have been donated. It’s impressive and inspiring. Join us as we talk about creating engaged employees and making an impact on this episode of Relative Profitability!
Highlights from this episodeIn part one of my interview with Doug, we talked about coping with the entrepreneurial grind from a family perspective, and community-building as part of social entrepreneurship. If you haven’t yet listened to that episode, go back and listen to it first! This second half of the conversation is going to be about how to create engaged employees through an integrated approach instead of just a financial transaction between a business and an organization. Listen to hear how you can weave purpose and mission into your business — you do not want to miss this conclusion!
Thinking beyond transactionsHistorically, companies that wanted to participate in a cause thought that they had to do it a certain way, and most times it ended up being transactional. They would host a fundraising event or ask the employees to donate, and that’s not bad, but it doesn’t build a lasting culture of engagement. What Doug encourages people to do is think about what assets beyond financial that they have within their business that can be powerful and leveraged — maybe that’s human capital, maybe it’s knowledge and resources, maybe it’s a product. Whatever those assets are, it’s about building an integrated approach to engagement. After all, engaged employees are better employees. Listen to this episode to hear Doug give an excellent example of what it means to think beyond transactions and create a culture of engagement.
The Future of PelotoniaDoug shared with me that during 2020, because of the pandemic, he and his team stepped back and did a 5-year strategic plan. Since hosting in-person events during COVID was not possible, it gave them the time to step back and create this strategic plan because they weren’t doing all of their normal events and fundraising activities.
Doing this 5-year strategic plan has set Pelotonia on a course to grow significantly. They’ve got a plan to double their impact on an annual basis, not only with participation and fundraising but also with the impact of the research. Doug is hoping to have more clinical trials and more funding for scientists with big, bold, audacious ideas. He’s hoping for a geographical expansion beyond central Ohio as well. The idea is to get more people involved and connected to the cause and to extend the ability to participate to those who maybe care about cancer research but aren’t going to go to Ohio in August to ride a bike. Listen to this episode to hear more about the exciting things to come for Pelotonia!
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Do you remember those LIVESTRONG yellow bracelets everyone wore years ago to raise awareness for cancer? Of course you do, everyone remembers the 105 million yellow rubber bracelets that were sold. I talk with Doug Ulman, one of the founders of that organization, and now-CEO of Pelotonia, a non-profit organization that is raising money to aid in cancer research.
Pelotonia is a community determined to see an end to cancer. Their mission is to engage, inspire, and challenge a community committed to changing the world by accelerating innovative cancer research. Since Pelotonia’s inception in 2008, over $218 million has been raised to fund cancer research, and 100% of those proceeds have been donated. It’s impressive and inspiring.
Doug is responsible for overseeing the strategic vision and direction of Pelotonia and also serves as an advisor to The Ohio State University Comprehensive Cancer Center. Join us as we talk about social entrepreneurship and community-building on this week’s episode of Relative Profitability!
Highlights from this episodeAt the beginning of any startup, non-profit or not, we put in extra hours to try to get things off of the ground. I asked Doug how he balanced those long hours in the early days with Pelotonia and his family life. He told me that since he loves what he does, it’s hard to consider it “work,” which can absolutely blur the lines between home and work-life even further.
During some of the more stressful times, there were days where he’d come home from working 10, 12, 14 hour days and just lay down on the floor and let his kids crawl all over him which helped him to de-stress. He also mentioned that it’s essential to emphasize to his children why it’s important to do work that matters and he shared a story with me about how his daughter knew 2 years ago that he was doing very important work. Listen in to this episode to hear it!
Community-building as part of social entrepreneurshipIt’s human nature to want to be around other people. People want to share experiences and feel like they belong to a community. Our job as social entrepreneurs and community-builders is to provide a platform for people to do something important to them. So how can we give people the chance to do something special that they might not otherwise get the chance to do? How can we bring people together and align them with a common goal, especially in a world that is becoming increasingly fragmented and divided? Listen in to this episode to find out!
Thinking beyond transactionsHistorically, companies that wanted to participate in a cause thought that they had to do it a certain way, and most times it ended up being transactional. They would host a fundraising event or ask the employees to donate, and that’s not bad, but it doesn’t build a lasting culture of engagement. What Doug encourages people to do is think about what assets beyond financial that they have within their business that can be powerful and leveraged — maybe that’s human capital, maybe it’s knowledge and resources, maybe it’s a product. Whatever those assets are, it’s about building an integrated approach to engagement. After all, engaged employees are better employees. Listen to this episode to hear Doug give an excellent example of what it means to think beyond transactions and create a culture of engagement.
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Do you find yourself wanting to evaluate your team’s performance but not knowing where to start or how to do it? Are you lacking a system for helping your teammates grow both professionally and personally? If so, you’ll want to listen in to this week’s episode of Relative Profitability.
Scott Luberto is the co-founder and head of product at Atlas Navigator. His official title, however, is the Chief Enthusiasm Officer — aka CEO. I hired Scott’s firm a few months ago to help my company, improve upon our quarterly and annual reviews and to help us support our team members’ professional and personal growth. Join us on this episode of Relative Profitability as we talk about performance management systems!
Highlights from this episodeEssentially, a performance management system helps people have a good understanding of where they currently stand with their skills and where the business is trying to go, so they can know where they fit in. It’s also about having a good conversation and improving communication.
First, we must understand what skills are needed for each role in the business. What does success look like for any given job in the organization? Secondly, there will be a review process. Not only will there be a review from me, but there will also be a self-assessment and in some cases, a peer will assess them as well.
Once roles are understood, success has been clearly defined, and assessments have been done, we can then connect the dots by assigning action items to help team members get to where they need to be. Listen to this episode for more on the topic of performance management systems!
What does it mean to define excellence in your organization?According to Scott, defining excellence in your organization means establishing the rules everyone will be playing by. It’s asking yourself, “What does ‘great’ look like?” To take it a step further, what does “great” look like for beginners, for someone proficient, and for someone that is an expert?
To gauge competencies, everyone must know what is considered excellence, so they’ll know what to strive for and what to measure themselves up against. Basically, they won’t know what they don’t know. It’s not necessarily an easy process, but what is the alternative? The alternative is having team members that have different ideas of what they should be striving for — which is not good. Listen in to this episode to hear more about defining excellence when it comes to a performance measurement system.
From assessment to action: Helping team members get from where they’re at to where they need to be.Once excellence has been established, and competencies can now be measured, this is where the fun part comes in — in my opinion. As entrepreneurs, we have the opportunity to reframe the conversation of performance assessments. It doesn’t have to be a rigid assessment. We don’t have to hit our employees over the head with a hammer. Instead, to quote Scott, “If there's a hammer it's to build you up with, not to tear you down.” I couldn’t agree more. It’s all about the opportunity for growth and becoming a better person and professional. Ultimately, that’s what’s going to move the entire organization forward. The organization will move forward from getting team members the help, training, and resources that they need to develop themselves personally and fulfill their job role to a level of excellence. Check out this episode to hear more!
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Have you ever seen an astronomically priced domain name for sale and wondered if you could get it for a more reasonable price? If so, Keith Richter is your guy. Keith Richter is the co-founder and director of sales at Lumis, a digital asset brokerage and consulting agency. Lumis helps businesses and organizations acquire digital assets, including domain names.
When Keith was the vice president of one of the largest brokerage firms in the industry, Domain Holdings, he realized that the marketplace was incredibly difficult to interface with and that it is often done on purpose. He asked himself the question, “who is representing the end-user?” Finding no one, he put on his entrepreneurial hat and stepped up to fill that void in the marketplace and his company has seen tremendous growth because of it. Keith told me that since 2017, Lumis has negotiated between $30-40 million in brokerage and helped over 500 companies in 6 continents. He also told me that in 2020 Lumis was named number 2 in the world for the master of domains through escrow.com. Listen in to find out how you can protect your brand by acquiring digital assets (including a domain name) on this episode!
Highlights from this episodeEssentially, the purpose of determining the value of a domain is so the end-user can get a fair price for it — similar to the way that the housing market works. When it comes to buying a domain name and determining its value, Keith told me there are several factors involved. A domain name is valued on 3 very important things: its online appraisal, comparable sales, and who owns it. This is where strategy and knowing the marketplace comes into play. Join Keith and I as we talk about the process of domain valuation and acquisition from start to finish.
The importance of choosing the proper extensionI asked Keith about the significance of choosing the right extension for a domain name and he had quite a bit to share with me about it. He shared everything from how an extension can impact search engine optimization (SEO), to its impact on people’s perception of a brand’s legitimacy.
Keith also shared 5 of the top extensions today, which extension is considered antiquated and is currently being phased out, as well as the extension where he’s seen the most buyer’s remorse. You’ll have to listen in to find out what they are!
Protecting your brandEven though social media is a huge part of marketing strategy in this day and age, domains are still king. Domains can even help protect your brand, believe it or not. While it is important to acquire digital assets such as social media handles, they are not enough to protect your brand. Having a patent or a trademark isn’t enough to protect your brand either. I cannot stress the importance enough, it’s critical to secure the proper domain name. Keith gave me some specific examples of instances where having a domain name would protect a brand.
In his own words, “You really can't quantify the spend because, in the end, any marketing campaign that you run will never do as much for your company as the day that you acquire your domain.” Yes, it’s that important. Listen to hear exactly how your brand can be protected in such a way.
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As an entrepreneur, it’s easy to get caught up in the hustle and grind and just push through the hard things. I like to call it having “mental toughness,” but in doing so it’s possible to end up mentally fatigued. Join my sister Alyson and I as we talk about four strategies for combating mental fatigue as an entrepreneur in the age of COVID.
Alyson has a master’s degree in counseling, she’s a stay-at-home mom of three children (aka the CEO of the house), works part-time at a counseling and wellness center, and is the wife of a business owner. You’ll find her insight as a counseling professional and the wife of an entrepreneur so helpful. I urge you to listen and put these four strategies into effect in your life.
Highlights from this episodeAs an entrepreneur, it is incredibly tempting to just put my head down and push through the obstacles that I face. Is that honestly the answer though? Is sprinting harder really going to solve my business problems? Or will it eventually lead to burnout and mental fatigue?
When life and business feel too heavy, focusing on mindfulness can help ground us and bring us back to the here and now. My sister Alyson says it’s important to acknowledge your feelings, thoughts, and fears — the things that you’re struggling with in business. Whatever it is that is in your mind at that time, acknowledge those feelings and thoughts without judgment.
Developing the skill of mindfulness can help entrepreneurs reduce anxiety and stress because not stopping to acknowledge our feelings can lead to mental fatigue. Feelings and emotions can only be repressed for so long before they begin to bubble up and out. In this episode, Alyson and I talk about mindfulness as a strategy to combat mental fatigue and what it means to be more mindful.
Gratitude: hyped buzzword or effective strategy to flip your mindset?An effective way to combat mental fatigue, anxiety, and the overall hustle of the everyday that is especially draining right now during COVID is to start the day with gratitude. Alyson told me that focusing on what I’m thankful for can help flip my mindset. It doesn’t matter how exhausted and down I am, I should always be able to find something I’m grateful for. As an example, when business feels hard and is wearing me down, I can still be thankful that I’m providing for my family. The key is bringing attention to and focusing on what you’re grateful for, and that’s what can help turn your mindset around. Asking myself, “what’s most important?” can help refocus me too. Listen to find out other ways that you can help ground yourself and practice gratitude.
Self-care: What exactly is it and why is it so important for entrepreneurs?Self-care is critical to combat mental fatigue. Granted it doesn’t have to be an extravagant trip to the spa for an entire day or a fancy getaway. For me, it can be something as simple as working out consistently — even if I don’t enjoy doing it in the moment. For others, it may be eating healthy or stepping away for 20 minutes. It’s going to be different for everyone though, so it’s important to find what recharges your batteries and gives you that burst of energy to go on in your business.
Alyson points out that, “the important thing to remember with self-care is to not just do it when you're stressed. In the times where it feels kind of easy and life feels okay, keep that self-care going because that's what's going to sustain you later when the stress does come.” Wouldn’t you agree? Listen to hear it straight from Alyson’s lips and to get some ideas for self-care and how you can implement it regularly into your routine, in a way that works for you.
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How Strength Comes Out Of Difficulty with Jason Brezler Part 2, Ep #12
If you’ve not heard the first part of this conversation with Jason Brezler, you should hit pause and find it just before this episode in your podcast player. It sets the stage for the topics we discuss in this portion of the conversation.
The ongoing COVID situation has pushed all of us, leaders and non-leaders alike, into situations we never dreamed we’d face. For many, it’s taken a toll mentally as well as financially. Jason’s experience as a Marine coupled with his current experience as a New York City Fire Fighter and leader of Leadership Under Fire provides a rich perspective through which to view the circumstances of our day. He offers hope and sage advice during this conversation for leaders of both small and large organizations. Don’t miss it.
Highlights from this episodeAs Jason and I spoke about the effects of the COVID pandemic, we both recognized that the financial impact on many people was only part of the equation. While financial stress can produce emotional challenges, there’s also the loss of purpose many have experienced through furloughs, layoffs, and the like. But there’s’ more to it than even that. The language used to describe the situation has sent clear messages to many, messages that their job is “non-essential” and consequently, the feeling that they may be non-essential as well.
Jason is concerned about this unintended consequence of the pandemic response and is hopeful that progress with a vaccine and innovative approaches to business will provide the opportunity for many to get back to work and contribute in ways that feel meaningful to them. But he’s also encouraging people to find simple but valuable ways to be of benefit to others and tells a quick story of an opportunity he had to do exactly that.
Mission matters to everyday people, not just high-performing individualsWe all need to know that what we are doing in life is important. That doesn’t only have to do with our career or employment, it’s also about making a difference to other people. Leaders are in a unique position to provide such opportunities to the people they lead. Don’t try to make it earth-shattering or tremendously complex, just empower your people to do things to help them feel that they are doing something relevant and meaningful for others.
And keep encouraging those you lead. Why? Because it’s becoming evident that people are losing heart because of the slog the battle against COVID has been. We were told, with all the optimism in the world, that we would ex[erience a few months of inconvenience, and then we’d be back to normal. That simply hasn’t turned out to be the case. Naturally, hope deferred is a discouraging thing, so as a leader, make it your job to encourage your team daily.
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Jason Brezler is the Founder and President of Leadership Under Fire; a program that equips leaders and organizations with human-centric processes, practices, and skills needed to optimize human performance in high-risk settings.
Jason is also a New York City Lieutenant firefighter and a US Marine. He has been deployed overseas several times, and it is in these high-intensity situations that Jason developed the skills necessary for being able to lead under fire.
In part one of my interview with Jason, he shares his expertise on leadership in high-risk settings. Listen to his remarkable stories and advice on optimizing human performance and leading under pressure!
Highlights from this episodeJason told me that without question, one of the most formative experiences of his life professionally, and one of the most formidable challenges he’s ever navigated as a leader, was when he deployed to Fallujah, Iraq with an infantry battalion of Marines. It was at the height of the war there.
As he reflected post-deployment trying to make sense of what he had seen, experienced, witnessed firsthand, gotten right, and also gotten wrong in Iraq, he was able to contemplate with fellow marines that were also in the same position.
When he came back from that deployment, he realized that much of what he had learned while there was counterintuitive.
It was then that he and his marines made somewhat of an informal pledge to share those lessons with leaders and other high-risk or highly-competitive industries. That’s exactly what led to the creation of Leadership Under Fire.
Human performance optimization - what does that mean?I know that human performance optimization can sound like a mouthful, but it simply means preparing leaders and organizations for the moral, physical, and mental rigors critical to optimal performance and leadership in high-risk and highly-competitive settings. This is done by developing strength of mind, body, character, and critical thought.
The 3 keys to succeeding in high-risk settings:If I would have asked Jason what it was going to take to win in an incredibly lethal environment prior to his deployment, he would have said: weapons, technology, and the best intelligence available. Except, that deployment experience taught him that the three things that mattered most were in fact... Well, you’ll have to listen to find out!
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Lynda Ellis is the multiple award-winning Owner, President, and CEO of the Washington, D.C.-based Capitol Concierge. Under her leadership, the Capitol Concierge brand has become synonymous with best-in-class service and top-notch professionalism. Lynda was recently named one of the most admired CEOs in the DC area. In the last episode, we talked about the path leading up to her purchase of Capitol Concierge. In this episode, we continue the discussion with how she started Capitol Concierge and how she continues to grow it today. Join us to hear the fascinating conclusion to this interview with Lynda!
Highlights from this episodeWhen I asked Lynda to describe what Capitol Concierge did on a day to day basis, she described her employees as the happy people at the front desk — the “Debbie Cheerleader,” in Lynda’s own words. Her clients are property management companies that provide any number of services for the tenants in the building. In the past, Capitol Concierge has done anything from babysitting services to obtaining hard-to-get restaurant reservations to subcontracting for housecleaning and even renovation services! Debbie said the bottom line is that they do anything that makes their client’s lives less stressful by giving their time back to them. Listen to the podcast to hear all of the amazing ways they accomplish this feat!
Take care of your employeesLynda stressed the importance of caring for the people that work for your organization and said that without her employees she wouldn’t have a company. However, it goes even deeper than that. Lynda believes the people she hires are entrusting their livelihood to her. She takes it very seriously when someone chooses to work for her company and believes that her one job as CEO is to provide support to her people. Lynda said that if she expects her employees to provide 100 percent service and then she doesn’t provide that to her employees, she doesn’t know how she can keep expecting it. Her philosophy is to make sure that anyone who works for her company, no matter the length of their employment, leaves better for having worked there. Listen to the podcast to hear all of Lynda’s excellent views on the subject of her employees!
If it ain’t fun, don’t do itLynda has two pieces of advice for people wanting to go into business for themselves. The first? When somebody says you can’t do something, don’t believe them. If it’s important to you, you will figure out a way to do it. Her life and career path are full of examples of where it is possible to always find a way. And the second piece of advice? If it ain’t fun, don’t do it. Lynda expands on her views of this second piece of advice in our interview. Listen to hear why having fun in your business is so important!
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The podcast currently has 20 episodes available.