The Red-Bearded Risk Guy

Another episode of the Red-Bearded Podcast is live!!! Episode 12: Understanding Your Duties as a Retirement Plan Sponsor with @CHARLES WARREN, AIF®, C(k)P, CPFA

When this guest isn’t enjoying the breeze on his Harley Davidson, he’s helping business owners navigate the pitfalls of regulation and compliance while maximizing the success of their company retirement plans. 

Listen in as Charles Warren, a plan consultant with @Multnomah Group, Inc. draws on his extensive background to share some of the Dos and Don’ts of being a plan sponsor.

Get insights on how we should define a successful retirement plan such as:

• It’s must be optimized for the employees’ successful retirement
• 1-on-1 meetings with employees with employees contribute to the success of a plan.
• Are participants saving at a meaningful rate, or just checking a box and matching their employer's contribution?
• The importance of clearly defined processes and a documented plan that is being followed in order to stay compliant. 
• Documentation! Documentation! Documentation!

If you have questions connect with @CHARLES on LinkedIn, or reach out to me for an intro! 

#redbeardedriskguy #ERISA #compliance #riskmanagement #retirementplans #401k #humanresources #savings #commercialinsurance #fiduciaryduty

This guest grew up in a multi-generation insurance family and was an agent himself for years. Then he recognized a common industry headache. One that plagues both the insurance buyer and their agents.

I'm  guilty of complaining about this problem far too often: The Commercial insurance world is WAY behind in terms of technology! Especially when it comes to the customer experience.

Peter MacDonald, started Wunderite for precisely that reason.

In this discussion, Peter gives great advice for anybody looking to start a company, especially if the solution you're developing involves technology, or other skills you don't have yourself.

He also shares how Wunderite is a great tool for eliminating paperwork headaches and saving time for insurance agents AND for their insurance clients. The best B2B tech solutions don't just make life easier for their business clients. They empower a business to give their own customers a better experience. Wunderite helps with both.

 

You can find Peter on LinkedIn here. Or email him at [email protected]

You can learn more about Wunderite here.

We’re back with part 2! In this episode we shift our focus more to some of the personal challenges faced by entrepreneurs and delve into how overcoming these challenges helps them have better businesses AND better lives. 

We start the conversation by talking about P.U.R.P.O.S.E, which stands for:

P-rinciples

U-unique capabilities

R-elationships

P-rofession

O-utcome

S-tory

E-ffort

We go deep on principles and Keith shares insights on how “walking your talk” while having genuine relationships with your people can improve company culture and performance. 

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Killing The Contract: POS Peace of Mind for Business Owners W/ @Keith Sconiers, Founder and CEO of PaySuite(1 of 2)

What do you do when the industry standard is to tie business owners down with a contract, hand them an 800-number and never speak to them again? Leaving business owners with costly business interruptions and/or the inability to collect payment.

Learn how this guest helps business owners that are normally locked into contracts with companies whose lack of service and empathy for their clients is borderline criminal. Hear how he broke the mold by taking a customer-focused approach in the merchant services industry.

He shares his personal story of trying 17 different careers before carving his niche in the business world, eventually growing his company and becoming a mentor to other professionals.

Keith has some excellent insights on managing risk related to POS systems. I was impressed with his knowledge of the cyberrisk aspect of his industry!

I think it's worth mentioning that Keith is an ULTRA NETWORKER!

He is also the host of the Purpose Podcast, and he runs Catalyst Training + Development. We will shift gears on the next episode to more about that so keep an eye out for that!

 
Learn more about Keith here on his site, or his LinkedIn Profile

After scaling and selling a family manufacturing business, Shane set his sights on the next thing.

Then, while spending some time in Baja, camping out on the beach in an old van he'd converted, he got an idea.

He knew Oregon's wine country well, having grown up on a hazelnut farm in Aurora. He also knew just how versatile these van conversions could be. 

The Good Vibes Tour was born. Shane now helps happy travelers explore the Pacific Northwest with specially curated tour experiences that include Oregon's wine country, our amazing breweries and distilleries and other seasonal fun (think zoo lights in style).

There's something for everybody on this episode. We start out talking about what it's like to successfully start, grow and exit a manufacturing company.

Then we jump right into talking about the ups and downs of starting a tour business in Oregon. Shane share's insights on everything from marketing, to managing risk with passengers on the road. 

If you have a great client, or amazing staff you want to recognize, or simply want to do some fun team building, be sure to check the good vibes tour.  Follow them on Instagram! Check out their Facebook page!

This was also my first in person interview! Stay tuned for the video when it goes live! 

Is your company vision on track? Do you have the “right people in the right seats” to get you there? How do you measure progress toward that vision?

Today’s The Red-Bearded Risk Guy podcast interview is with Craig Wigginton, a Professional EOS Implementer who specializes in answering those questions and more! He has been involved in the successful growth, scaling and exit of multiple businesses before starting his own coaching company.

He describes how he helps Founders and Leaders get clear on “Vision, TractionⓇ, and Healthy” and elaborates on the importance of clarity in 2 major areas - 1) Getting clear on core values in order to shape your company culture, 2) Getting clear on core focuses that are going to drive the day-to-day decisions you make in your business. 

Craig runs us through the EOS Model, sharing great insights on its 6 key components! This expert guest gives an excellent overview of Vision, People, Data, Issues, Processes and how all these come together to get TractionⓇ- all based on Gino Wickman’s system and books. 

Tune in with your host, the Red-Bearded Risk Guy as we learn a ton from this impressive entrepreneur!

Reach out to me- or contact Craig on LinkedIn to schedule your 90-minute session, or to ask any EOS questions you may have. 

If you learn something from this conversation, share it with a friend or colleague that will enjoy it! Be sure to subscribe and leave a review on whatever podcast platform you're using.

If you’re anything like the average business owner, 80-90% of your net-worth is tied up in your business. How do you plan on funding your exit strategy?

You also  have key employees or executives that are crucial to your business. What strategies are there to make sure your top talent is less likely to entertain headhunter offers? 

Do the terms of your buy/sell agreement tailored specifically for your business? Is that properly financed?

How do you become your own bank/insurer in order to cover losses your insurance policies aren't designed to cover? 

How do you keep your warranty program from killing your cash flow? 

Today, we sat down with a Creative Corporate Finance expert, Zebadiah Wade to talk about some clever ways to solve these problems - and more! 

Zeb has several years of experience in corporate risk management, commercial insurance and finance. 

When done right, the unique strategies Zeb covers in this episode are a game changer when it comes to helping business owners and executives plan for the future. 

He’s also one of my newest colleagues here at Laporte Insurance in Oregon. 

It’s also worth mentioning the non-profit where Zeb serves CFO for Anchors Outdoor Adventures. If you love the outdoors, action sports and serving disadvantaged youth, you need to check them out. (Shout out to Isaiah).

If you enjoy this episode of The Red-Bearded Risk Guy, be sure to subscribe, review, share using your favorite podcatcher i.e. Spotify, Apple, Google, etc. 

As of 1/1, you and your employees started paying a new tax!

If you didn't explore an "Equivalent Plan" with your broker, it's not too late!

You can still get quotes!

And if you find something better, you have until 5/31 to notify the state. This will allow you to stop paying the tax until you start paying premiums on your own plan... 

because companies with the state plan are essentially paying for nothing right now.

Unless, of course, your broker helped you secure an Equivalent Plan and gave you the info you needed to submit to the state! Equivalent plans don't always make sense, but we've helped dozens of Oregon companies find savings.

I just sat down with Candace Bennett, The Benefits Manager at Laporte Insurance In Portland to record a quick conversation on the state of PLO in OR. She has helped a LOT of companies with this and shares her insights, bringing 13+ years of benefits experience to the table.  

In 2019 this guest’s leadership was recognized as one of the Pacific Northwest’s  "40 Under 40" and one of Portland Business Journal’s “People on the Move.” 

Get ready for an exciting new episode of "The Red-Bearded Risk Guy" podcast, hosted by Joshua Keene, AKA the Red-Bearded Risk Guy! In this episode, Joshua sits down with special guest, Stanley Walker, President of NQ Industries, a fast growing steel manufacturer based in Portland, OR.

Stanley is a seasoned leader in the steel industry, with a wealth of experience in scaling businesses and navigating challenges. He shares insights, drawing from his experience as the former President of Oregon Metal Services, a steel supplier/manufacturer that was recently acquired. He talks about the strategies he implemented to drive business growth, problem-solving techniques. He shared great insights on both buying and selling a business. 

After a successful sale at Oregon Metal Services, Stanley and his management team shifted to start up mode! They have already grown NQ industries to over 15 employees in about 5 months!  They’ve taken a unique approach to insulate themselves from fluctuating steel prices by pivoting from steel supply, to selling a complete/almost complete product. Stanley shares valuable lessons learned from this journey and provides actionable advice for business owners, HR managers, safety managers, CFOs, or anyone running a business.

If you're looking for valuable insights on business growth, strategy, and risk management, then this episode is a must-listen! Join Joshua Keene and Stanley Walker as they dive deep into the world of steel industry leadership and share practical tips for staying ahead of the curve.

Tune in to "The Red-Bearded Risk Guy" podcast and be inspired by Stanley Walker's success story. Don't miss this engaging and informative episode, available now on your favorite podcast platform. Subscribe today to stay updated with the latest trends and strategies for protecting your people, profits, and public relations. Join the conversation and unlock the secrets to business success with "The Red-Bearded Risk Guy"!

Are you a business owner or manager looking to save tens to hundreds of thousands of dollars on workers' comp? Then tune in to the latest episode of the Red-Bearded Risk Guy Podcast, where Joshua Keene, AKA The Red-Bearded Risk Guy, talks to Dan Petrillo, a shareholder at Laporte Insurance in Portland, Oregon, and an expert in helping businesses navigate the tricky world of workers' comp.

Dan draws on his 8 years of experience doing loss control at SAIF Corporation, Oregon's main workers' compensation carrier, to reveal behind-the-curtain strategies that can help you reduce costs and increase revenue. He explains how Oregon's unique workers' comp structure can lead to businesses leaving money on the table, and how there are many things you can control to prevent injuries and control the costs of claims when they occur.

Dan covers a range of topics, including the true costs of workers' comp risk, the importance of injury prevention and building a safety culture, and strategies for controlling claims, including return-to-work programs, established relationships with medical clinics, and clear processes for reporting and seeking medical attention. He also explains how all of these factors factor into your "X-Mod" or Experience Modification Rating, and how a poor mod can disqualify construction companies from certain opportunities.

The key takeaway from this episode is that your workers' comp program is your most controllable cost of risk, and how it's managed can have a big impact on profitability, for better or worse. This information will be valuable to business owners, HR managers, safety managers, CFOs, or anybody running a business with 50+ employees. Don't miss out on this valuable conversation with Dan Petrillo on the Red-Bearded Risk Guy Podcast.