Traversing Entrepreneurship

In this episode we welcome Alex Repo, the newest member of the TreMonte team! Hear Alex's story about how he went from working in a factory, to eventually serving as Derek's caddy and ultimately joining the TreMonte family. We discuss the impact of NIL deals in college, highlighting the newfound opportunities for athletes to monetize their personal brand. We keep the conversation fun and lighthearted while we discuss the varying implications for athletes at different stages of their careers, from highly touted prospects to lesser-known talents.

"A lot of athletic departments have boosters, very wealthy people who donate money to an athletic department. Now they're forming these collectives." - Derek Dall'Olmo

This week on Traversing Entrepreneurship:

• Alex's background.
• What is NIL and what does it mean?
• What is the impact of NIL on the college athletics landscape?
• Looking at the female college athletes.
• Advice for college athletes who need financial help.
• Is there a runway for women's basketball?
• Derek's introduction.

Our Favorite Quotes:

• "They are forming these things called collectives and IO collectives, where they pool a bunch of money together for a specific school." - Derek Dall'Olmo
• "I guess in theory, NIL was supposed to give every school an equal chance at convincing an athlete to attend. In practice, the field is far from level." - Derek Dall'Olmo
• "One of the big names, LeBron James, his son is now going to be attending USC next fall. He has inked an NIL deal worth almost $7 million." - Derek Dall'Olmo
• "I got an instapot this weekend, haggled on the marketplace, threatened in front of everything. Hashtag his is 30" - Melissa

About TreMonte and Traversing Entrepreneurship Podcast:

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, co-hosts Derek Dall'Olmo and Melissa Niedzielski sit down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek and Melissa work together at TreMonte Financial Consultants, LLC and TreMonte TreMonte Tax Solutions, LLC (together referred to as "TreMonte"). TreMonte works with business owners and entrepreneurs to develop a proactive tax strategy that maximizes after-tax profits. It is TreMonte's goal to bridge the gap between Financial Advisors and Accountants by serving as CFO to their clients.

This show is for informational purposes only and should not be viewed as personalized financial, investment, tax, or legal advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.

Please email Derek Dall'Olmo at [email protected] with questions and comments or to schedule a one-on-one conversation.

TreMonte Facebook Page | Follow Derek on LinkedIn | Follow Melissa on LinkedIn

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If you enjoy the show, please leave a review on iTunes to help others discover the podcast.

Kellie Sergent is a realtor based in Northern Michigan. Before becoming a realtor, Kellie worked in parks and recreation where she found the opportunity to combine three of her passions: people, community, and making an impact. Today, as a realtor for CENTURY 21, Kellie remains passionate about creating community by helping people find their perfect home, dream vacation retreat, or business venture. She holds a Bachelor's degree in Parks and Recreation from Michigan State University and a Master's degree from Central Michigan University.

Kellie joins us today to share her passion for the real estate industry. She describes her professional background and how she pivoted from parks and recreation to real estate. She explains how she built her career in real estate after the 2008 financial crisis and highlights how being in a community of realty professionals helped her grow her business. Kellie also underscores why being humble and a good listener is essential to being a great realtor and offers advice to people who want to start a career in real estate.

"Remain level-headed and professional. Don't let other people's emotions influence how you represent them, because they're counting on you to be the intermediary looking out for their best interest." - Kellie Sergent

This week on Traversing Entrepreneurship:

• Kellie's background and career path to real estate
• Her process for real estate marketing
• Why Kellie decided that real estate was a great career path for her
• Building a business during an economic crisis
• How a network and community of real estate professionals helped Kellie's career
• The value of integrating 3D house plans, videography, and photography into a realty business
• Establishing concrete boundaries as a self-employed person
• My experience buying our first house
• How the real estate market has evolved over the years
• What keeps Kellie motivated to work in the real estate industry
• Kellie's fairy hair and how she manages her wellbeing amid the stresses of being in business
• Her advice to people who want to get into the real estate industry

Our Favorite Quotes:

• "All of us in business struggle with our egos to some degree." - Derek Dall'Olmo
• "For the last 12 plus years, my mantra has always been 'It's not about me. It's always about the client.' If you make it about the client, none of the other stuff matters." - Derek Dall'Olmo
• "Our industry is constantly evolving; stay up-to-date, committed, passionate, and show up every day." - Kellie Sergent

Connect with Kellie Sergent:

• Century 21
• Kellie Sergent | Century 21
• Kellie Sergent on LinkedIn
• Kellie Sergent on Facebook

About TreMonte and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, co-hosts Derek Dall'Olmo and Melissa Niedzielski sit down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek and Melissa work together at TreMonte Financial Consultants, LLC and TreMonte TreMonte Tax Solutions, LLC (together referred to as "TreMonte"). TreMonte works with business owners and entrepreneurs to develop a proactive tax strategy that maximizes after-tax profits. It is TreMonte's goal to bridge the gap between Financial Advisors and Accountants by serving as CFO to their clients.

This show is for informational purposes only and should not be viewed as personalized financial, investment, tax, or legal advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.

Please email Derek Dall'Olmo at [email protected] with questions and comments or to schedule a one-on-one conversation.

TreMonte Facebook Page | Follow Derek on LinkedIn | Follow Melissa on LinkedIn

Subscribe:

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If you enjoy the show, please leave a review on iTunes to help others discover the podcast.

John Smiddy is the founder and a managing partner of LeadPlan Marketing, a firm dedicated to guiding clients toward business success by helping them reach a larger audience. As a marketing consultant, John has helped market and scale over 200 companies in various industries over the past decade. He is the author of STOP Guessing, START Marketing and the creator of the 5 Pillars of Sales Conversions formula at LeadPlan Marketing. He is also the host of The Marketing Fundamentals Podcast and founder of NutraMarketers.

John joins us today to share his passion for marketing and outline LeadPlan Marketing's P5 Marketing Strategy. He differentiates marketing from strategy and reveals common misconceptions about them. He describes the customer's journey and why businesses need to put themselves in the minds of their target customers. He reveals the quickest way to lose money in marketing. John also explains why podcasts and books are powerful assets to build credibility and trust and highlights why doing a pre-launch is a powerful way to turn leads into customers.

"Most businesses don't have marketing plans. Be intentional, plan out your marketing, and stick to it." - John Smiddy

This week on Traversing Entrepreneurship:

• Common misconceptions about and struggles with marketing
• The four P's of marketing
• Strategies for calls-to-action and understanding the traditional buyer's journey
• Using effective keywords on ads to attract traffic to your website
• Common mistakes and weak points of businesses when it comes to marketing and advertising
• The important role of KPIs and plans in marketing
• LeadPlan Marketing's five pillars of marketing and marketing plans
• Building a connection with your target customers and creating a web landing page
• The art of brand scripting
• Selecting assets to build trust with customers and running retargeting ads
• Mapping out value ladders and limited time offers
• Using email lists as marketing tools
• Turning customers into advocates for your business
• Leveraging social media for marketing

Our Favorite Quotes:

• "Advertising is like putting the cart before the horse—you have to first come up with product, pricing, and placement." - Derek Dall'Olmo
• "Ordering is a skill a lot of people don't have." - Melissa Niedzielski
• "It's important to get your brand strategy in line before you get your marketing in line." - John Smiddy

Connect with John Smiddy :

• LeadPlan Marketing
• NutraMarketers
• P5Strategy
• Book: STOP Guessing START Marketing: The Simple 5-Step Formula to Highly Effective Marketing Strategy
• LeadPlan Marketing on LinkedIn
• LeadPlan Marketing on Instagram
• LeadPlan Marketing on Facebook
• LeadPlan Marketing on Twitter
• NutraMarketers on LinkedIn
• John Smiddy on LinkedIn

About TreMonte and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, co-hosts Derek Dall'Olmo and Melissa Niedzielski sit down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek and Melissa work together at TreMonte Financial Consultants, LLC and TreMonte TreMonte Tax Solutions, LLC (together referred to as "TreMonte"). TreMonte works with business owners and entrepreneurs to develop a proactive tax strategy that maximizes after-tax profits. It is TreMonte's goal to bridge the gap between Financial Advisors and Accountants by serving as CFO to their clients.

This show is for informational purposes only and should not be viewed as personalized financial, investment, tax, or legal advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.

Please email Derek Dall'Olmo at [email protected] with questions and comments or to schedule a one-on-one conversation.

TreMonte Facebook Page | Follow Derek on LinkedIn | Follow Melissa on LinkedIn

Subscribe:

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If you enjoy the show, please leave a review on iTunes to help others discover the podcast.

Matt Lesser joins us to discuss the ups and downs entrepreneurs can face and the importance of resilience and support when navigating the unpredictable world of business. Matt is the Founder/CEO of Uniquely Normal, LLC, which exists to equip leaders to build flourishing organizations through empathy. Prior to launching Uniquely Normal, Matt owned and operated businesses, and served in several C-Suite roles across various industries.

Our conversation takes a deep dive into Matt's entrepreneurial journey, detailing the challenges he faced when taking over his family's oil business. From discovering over a million dollars in unpaid trade debt to dealing with the EPA and IRS, Matt shares how these obstacles led him to a dark place, both personally and professionally. With support from his family and a local businessman, Matt was able to rebuild the company and eventually pivot into the heavy oil industry, finding success and growth along the way.

"It's okay to ask for help; nobody is meant to face everything alone." - Matt Lessor

This week on Traversing Entrepreneurship:

• What's the biggest contribution to GDP that family businesses make?
• Growing up in a family business and learning9 the business.
• The three biggest challenges Matt faced in his life.
• How business is different from business school.
• Working with leaders and developing healthy leaders.
• How do you build empathy, excellence, and excellence into the culture of your organization?
• What is it about family business that draws Matt to it?
• How do you create an environment where people can lean into what they're passionate about and contribute value?
• When you talk about flourishing, do you see any commonalities between people who thrive and those who don't?
• What's the difference between employee achievement vs employee development?

Our Favorite Quotes:

"You can't always control the hand you're dealt, but you can choose how to play it." - Matt Lessor

"Sometimes, the hardest decisions are the ones that lead to the most growth." - Matt Lessor

"My darkest moments eventually became the catalyst for my greatest achievements." - Matt Lessor

"Adapting to change is a key component of success in business and life." - Matt Lessor

"Don't be afraid to take a step back and reevaluate your goals and strategy." - Matt Lessor

"In entrepreneurship, resilience is often more important than the initial idea." - Derek Dall'Olmo

"There's a lesson to be learned in every failure, if we're willing to look for it." - Derek Dall'Olmo

Connect with Matt Lessor:

• Uniquely Normal Website
• Matt Lesser on LinkedIN
• Email: [email protected]

About TreMonte and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, co-hosts Derek Dall'Olmo and Melissa Niedzielski sit down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek and Melissa work together at TreMonte Financial Consultants, LLC and TreMonte TreMonte Tax Solutions, LLC (together referred to as "TreMonte"). TreMonte works with business owners and entrepreneurs to develop a proactive tax strategy that maximizes after-tax profits. It is TreMonte's goal to bridge the gap between Financial Advisors and Accountants by serving as CFO to their clients.

This show is for informational purposes only and should not be viewed as personalized financial, investment, tax, or legal advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.

Please email Derek Dall'Olmo at [email protected] with questions and comments or to schedule a one-on-one conversation.

TreMonte Facebook Page | Follow Derek on LinkedIn | Follow Melissa on LinkedIn

Subscribe:

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If you enjoy the show, please leave a review on iTunes to help others discover the podcast.

Stewart Townsend is the co-owner and Chief Revenue Officer of Podcast Hawk, a SaaS company created to automatically help people get booked as podcast guests. Stewart is also the founder of Channel as a Service, a consultancy firm that helps businesses accelerate B2B SaaS sales growth through every stage of the channel life-cycle. Before starting his career as an entrepreneur, Stewart worked in several tech and software development companies at varying capacities, including serving as the Director for Channel Development at ZenDesk and working with Oracle's EMEA Business Development & Startup Essentials. He holds a BSC Hons in Business & Information Systems and an MA in Social Media from the University of Salford.

Stewart joins us today to share his journey from working in the corporate world to being a start-up entrepreneur, as well as the lessons he learned from the successes and failures he encountered along the way. He describes the ethos he strives to instill in his business and explains why running a business unit in a company is simpler and easier than running your own business. He discusses the inner workings of Podcast Hawk and how it helps people get booked as podcast guests on autopilot. Stewart also highlights why it's important for guests to deliver value and insight to a podcast's audience and underscores what small businesses should focus on as they reach the million-dollar mark in revenue.

"Through growing up and being a human being, you learn by failing—that's how we're designed." - Stewart Townsend

This week on Traversing Entrepreneurship:

• What life was like for Stewart before PodcastHawk
• The challenges he faced in the corporate world that helped him get to where he is today
• Disconnecting from the grind and taking time out to think and evaluate your plans
• Stewart's beginnings as an entrepreneur and forays into investing
• Why it's difficult for British people to talk about challenges and failure
• Building Channel as a Service and what kept Stewart motivated despite previous investment failures
• What Podcast Hawk is and how it works
• Using Podcast Hawk to achieve your podcast guesting goals this 2023
• The importance of delivering value and insight to a podcast's audience
• Why it's critical to get to know someone personally before getting into business with them
• Building for contingency and other things small companies should focus on as they approach $1 million in revenue

Our Favorite Quotes:

• "Spend the time to get to know somebody you're going to get into business with personally; their personality is the one you're going to deal with not only in good but also tough times." - Derek Dall'Olmo
• "You have to be cognizant about who you're employing, how you're treating them, and what your competitors are looking for." - Derek Dall'Olmo
• "Ensure that you have tight operational procedures in place. It's all about operational processes, looking at the dependencies of your business, and de-risking it." - Stewart Townsend

Connect with Stewart Townsend:

• Stewart Townsend Website
• Podcast Hawk
• Channel as a Service
• Big Data Week
• Podcast Hawk on LinkedIn
• Podcast Hawk on Facebook
• Podcast Hawk on Twitter
• Stewart Townsend on LinkedIn
• Stewart Townsend on Twitter
• Email: [email protected]

About TreMonte and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, co-hosts Derek Dall'Olmo and Melissa Niedzielski sit down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek and Melissa work together at TreMonte Financial Consultants, LLC and TreMonte TreMonte Tax Solutions, LLC (together referred to as "TreMonte"). TreMonte works with business owners and entrepreneurs to develop a proactive tax strategy that maximizes after-tax profits. It is TreMonte's goal to bridge the gap between Financial Advisors and Accountants by serving as CFO to their clients.

This show is for informational purposes only and should not be viewed as personalized financial, investment, tax, or legal advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.

Please email Derek Dall'Olmo at [email protected] with questions and comments or to schedule a one-on-one conversation.

TreMonte Facebook Page | Follow Derek on LinkedIn | Follow Melissa on LinkedIn

Subscribe:

Apple Podcast | Google Podcasts | Amazon Podcasts | Stitcher | Spotify | Deezer | TuneIn

If you enjoy the show, please leave a review on iTunes to help others discover the podcast.

A lot of changes have been made to retirement plans in 2022 and 2023. Specifically, changes in rules and regulations have been made in the contribution limits to IRA and 401k. With these new revisions, it's more important than ever for business owners to be educated and empowered to make informed decisions about their retirement savings—ensuring they're maximizing the benefits available to them.

In this episode, we discuss the recent changes to the 401K and IRA contribution limits for 2023. We explore how business owners can take advantage of those changes and maximize their retirement savings. We dissect the different rules for people over the age of 50 and for married employees in 2023. We also offer tips on deciding which retirement plan to use and explain how working with professionals can help you choose a retirement plan that works best for you.

"If I were a fledgling business, I might look into a simple IRA first to get myself and my employees in the process. After a year or two of business growth, I may consider a 401k plan and profit sharing." - Derek Dall'Olmo

This week on Traversing Entrepreneurship:

• Contribution limits for 401k and other workplace retirement plans in 2023
• Max contribution limits for people over the age of 50
• 401k match and profit sharing strategy
• How having a retirement plan in place benefits business owners
• Utilizing retirement plans to lower taxable income
• What catch-up contribution limits are
• Simple IRA retirement plans and their catch-up contribution limit for employees over 50 years old
• Contribution limits for Roth and traditional IRAs
• Different rules for Active Participants in workplace retirement plans
• Roth IRA rules for married people in 2023
• Deciding what retirement plan to use

Resources Mentioned:

• IRS Notice 2022-55

Our Favorite Quotes:

• "Perhaps you can start with a simple IRA and once you're generating more revenue, a 401k can make more sense for you." - Melissa Niedzielski
• "Utilizing a retirement plan like a 401k is a great tool to lower taxable income and increase net worth at the same time" - Derek Dall'Olmo
• "You can get in more money than just the contribution limit, but anything above that limit has to come from the employer themselves." - Derek Dall'Olmo

About TreMonte and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, co-hosts Derek Dall'Olmo and Melissa Niedzielski sit down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek and Melissa work together at TreMonte Financial Consultants, LLC and TreMonte TreMonte Tax Solutions, LLC (together referred to as "TreMonte"). TreMonte works with business owners and entrepreneurs to develop a proactive tax strategy that maximizes after-tax profits. It is TreMonte's goal to bridge the gap between Financial Advisors and Accountants by serving as CFO to their clients.

This show is for informational purposes only and should not be viewed as personalized financial, investment, tax, or legal advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.

Please email Derek Dall'Olmo at [email protected] with questions and comments or to schedule a one-on-one conversation.

TreMonte Facebook Page | Follow Derek on LinkedIn | Follow Melissa on LinkedIn

Subscribe:

Apple Podcast | Google Podcasts | Amazon Podcasts | Stitcher | Spotify | Deezer | TuneIn

If you enjoy the show, please leave a review on iTunes to help others discover the podcast.

Join Derek Dall'Olmo and Melissa Niedzielski on the latest episode of the Traversing Entrepreneurship podcast as they delve into the reasons why businesses fail and provide practical advice to avoid common pitfalls. Discover the importance of market research, self-management, and leadership, as well as the benefits of having a solid business plan in place. They also explore the notion that starting a business doesn't necessarily require a pile of cash, as there are numerous businesses that can be started with little to no capital.

Join our hosts as they discuss the interplay between brains and effort, emphasizing that starting a business requires both in order to be successful. Don't miss out on this informative and insightful episode!

"Starting a business can be an exciting and rewarding endeavor, but it's important to be aware of the common pitfalls that can lead to failure." - Melissa Niedzielski

This week on Traversing Entrepreneurship:

• The most common reason businesses fail. 0:00
• There's never a vacuum of competition. 2:03
• What does it mean to have a business plan? 3:48
• How to get started with your business. 6:14
• The importance of mentoring your employees along the way. 8:01
• Do the right thing and it's going to pay off. 10:03
• How restaurants have had to adapt to the changes in the industry. 11:57
• How do you differentiate yourself from your competition? 14:09
• The key points of owning and operating a successful business. 15:46

Our Favorite Quotes:

• "Lack of market research is brains and effort, you have to put in the work to understand what your competition is and what you're doing differently." - Derek Dall'Olmo
• "If you're starting a business and you have an idea, there's already somebody else out there that knows your business and your customers, because they're already in the business more than you do." - Derek Dall'Olmo
• "Everybody thinks that you need a pile of cash to start a business, that's not true." - Derek Dall'Olmo

About TreMonte Tax Solutions and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan, and beyond. In each episode, host Derek Dall'Olmo sits down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek Dall'Olmo is the founder of TreMonte Tax Solutions, a tax planning firm that serves business owners and entrepreneurs. This show is for informational purposes only and should not be relied upon for investment decisions.

Email Derek Dall'Olmo at [email protected] with questions, comments, and to schedule a one-on-one conversation.

Follow Derek on LinkedIn.

Subscribe here:

Apple Podcasts

Google Podcasts

Amazon Music

Stitcher

Spotify

And, if you enjoy the show, please leave a review on iTunes to help others discover the podcast.

Geoffrey Harris is the Vice President of Medicare Sales at Michigan Planners, a full-service insurance agency specializing in employer group benefits. He graduated from Northern Michigan University with a degree in Business Administration and has been working in the insurance and financial services industry for over 40 years. Before joining Michigan Planners, Geoffrey worked as a financial representative for Northwestern Mutual for over 25 years. He went on to found Harris Insurance Agency and operated it before its merger with Michigan Planners.

Traci George is an individual specialist at Michigan Planners and has been with the agency since 2021. She serves as the Lead Agent for the firm's Individual Market team, under which she focuses on working with clients under 65. By going through their health profiles, lists of medications, household incomes, and budgets, Traci helps clients identify the best insurance for their needs.

Geoffrey and Traci join me today to answer some of the most frequently asked questions about personal and individual insurance and Medicare plans. They outline the enrollment periods and processes. They explain why it's important for individuals to pay attention to Medicare's enrollment window. They also offer advice on transitioning from employer-sponsored plans to Medicare and underscore the advantage of working with insurance specialists.

"With Boomers turning 65, there's a big need for information to the public so they can better understand what Medicare is and how they can transition to it." - Geoffrey Harris

This week on Traversing Entrepreneurship:

• Traci and Geoffrey's roles at Michigan Planners
• The main things to consider when enrolling for individual insurance for people under 65
• When to enroll for personal and individual insurance in 2023
• Enrollment periods and processes for Medicare plans in 2023
• Top reasons individuals make changes in their Medicare plans
• ACA, "non-qualified," and short-term insurance plans
• Deciding factors in selecting individual insurance options
• Deciding whether you should stay in an employer-sponsored plan
• The COBRA law and its notice requirement timeline
• Common mistakes in enrolling in individual and Medicare coverage
• The importance and advantage of working with insurance specialists
• Making changes in Medicare Advantage or traditional Medicare plans in 2023
• The Inflation Reduction Act and how it impacted Medicare
• The federal government's drug model and the expansion of eligibility for tax credits

Our Favorite Quotes:

• "I can't think of a disadvantage to talking to insurance specialists annually and going through your options with them." - Derek Dall'Olmo
• "Today, there are insurance specialists who are available at no costs to talk to about coverage and to go over the best options." - Derek Dall'Olmo
• "Your budget will decide your decision; it's important to talk to an insurance specialist and it's the benefit of a client to take their time." - Traci George

Connect with Michigan Planners:

• Michigan Planners
• Michigan Planners on LinkedIn

Connect with Geoffrey Harris:

• Geoffrey Harris on LinkedIn
• Email: [email protected]

Connect with Traci George:

• Email: [email protected]

About TreMonte Tax Solutions and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, host Derek Dall'Olmo sits down with local business ownerships and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek Dall'Olmo is the founder of TreMonte Tax Solutions, a tax planning firm that serves business owners and entrepreneurs. This show is for informational purposes only and should not be relied upon for investment decisions.

Email Derek Dall'Olmo at [email protected] with questions, comments, and to schedule a one-on-one conversation.

Follow Derek on LinkedIn.

Subscribe here:

Apple Podcasts

Google Podcasts

Amazon Music

Stitcher

Spotify

And, if you enjoy the show, please leave a review on iTunes to help others discover the podcast.

Jeffrey Libman is the General Manager of amical. Located in the heart of downtown Traverse City and overlooking the West Grand Traverse Bay, amical has been offering eclectic European cuisine since 1994. Jeffrey's love for the restaurant industry began when he was 14 working at a hotdog stand in Illinois. He later worked at Maggiano's, where he would manage the restaurant's Virginia and Washington D.C. locations and increase sales by 18.5%. Before moving to Traverse City with his family, Jeffrey worked at a Chicago restaurant group where he regularly served celebrities such as John Cusack and Michael Jordan.

Jeffrey joins me today to share an inside look at the restaurant industry. He describes his background and how he fell in love with the restaurant industry. He walks through his introduction to the Chicago restaurant scene and his journey from serving in big city restaurants to becoming the General Manager of amical at Traverse City. He explains how he helped amical staff become more efficient and serve customers from the big city without losing their small-town charm. He also reveals how COVID-19 highlighted the importance of a restaurant staff's well-being and underscores the passion and generosity of Traverse City's restaurant professionals.

"We're here for the guests—without them, we have no business. But without a well-rested, happy staff, we won't be here anyway. You have to do the best for your staff." - Jeffrey Libman

This week on Traversing Entrepreneurship:

• Jeffrey's background and how he fell in love with the restaurant industry
• His introduction to the Chicago restaurant scene
• Becoming amical's General Manager and Jeff's move to Traverse City
• Serving diverse customers without losing your identity
• How Jeff brought efficiency to amical's kitchen
• The difference between serving in big city and small-town restaurants
• How COVID-19 has changed the restaurant industry in Traverse City
• Jeff's advice to people who want to start a restaurant
• His thoughts on brunch service and why restaurants need to be consistent with their serving days and hours

Resources Mentioned:

• Book: Secrets of the Red Lantern: Stories and Vietnamese Recipes from the Heart by Pauline Nguyen

Our Favorite Quotes:

• "Do what you do best and forget the rest." - Derek Dall'Olmo
• "In a small town with dozens of top-tier restaurants, it has a lot to do with the people and not necessarily the product." - Derek Dall'Olmo
• "The life goal of people who work in restaurants is to take care of people. These people are humans—when you leave unhappy, it stays with them for days." - Jeffrey Libman

Connect with Jeffrey Libman:

• amical
• Email: info@amical
• amical on Instagram
• amical on Facebook
• amical on TikTok

About TreMonte Tax Solutions and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, host Derek Dall'Olmo sits down with local business ownerships and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek Dall'Olmo is the founder of TreMonte Tax Solutions, a tax planning firm that serves business owners and entrepreneurs. This show is for informational purposes only and should not be relied upon for investment decisions.

Email Derek Dall'Olmo at [email protected] with questions, comments, and to schedule a one-on-one conversation.

Follow Derek on LinkedIn.

Subscribe here:

Apple Podcasts

Google Podcasts

Amazon Music

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Frederic Heller is the President and owner of Northern Michigan Hospitality Management, a leading operator of destination, tourism, and transient properties. At the age of 25, Frederic became the General Manager of a hotel—he was an owner at 27. Under Frederic's leadership, Northern Michigan Hospitality Management has become a Marriott-approved company with several hotels under its management. Frederic holds a Bachelor of Arts degree in Hospitality & Tourism Management from Grand Valley State University.

Frederic joins us today to describe his journey as an entrepreneur in the hospitality industry. He explains how he became interested in hospitality and how he learned about the impact of management principles and culture on a business. He outlines what makes management companies successful and explains NMHM's "co-worker first" policy. He also highlights what it takes to create a healthy environment where employees feel happy to work and underscores the value of fair wages and paying workers above the market average.

"People aren't necessarily loyal to organizations—they're loyal to people. When people know that you care more than just their performance at work, that builds loyalty." - Frederic Heller

This week on Traversing Entrepreneurship:

• Frederic's background and journey in the hospitality industry
• The greatest thing about being an entrepreneur
• Eliminating middle management and why budgets should be a realistic working document
• Developing people from within and NMHM's "happy at home, happy at work" culture
• Creating a culture that makes people happy to be at work
• The divorce rates among restaurant and hospitality professionals
• How Frederic has grown as an entrepreneur over the years
• Line-level labor challenges in the current economic climate
• Why people should dive into entrepreneurship as early as they can

Our Favorite Quotes:

• "You're only as good as your worst employee." - Derek Dall'Olmo
• "Being friends with the employees is a relatively new train of thought. Other generations think there's a line you don't cross with your employees; work is work, life is life." - Melissa Niedzielski
• "Fair market wages are appropriate; trying to be cheap is the first way to unhappiness." - Frederic Heller

Connect with Frederic Heller:

• Northern Michigan Hospitality Management
• Northern Michigan Hospitality Management on LinkedIn
• Frederic Heller on LinkedIn

About TreMonte Tax Solutions and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, host Derek Dall'Olmo sits down with local business ownerships and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek Dall'Olmo is the founder of TreMonte Tax Solutions, a tax planning firm that serves business owners and entrepreneurs. This show is for informational purposes only and should not be relied upon for investment decisions.

Email Derek Dall'Olmo at [email protected] with questions, comments, and to schedule a one-on-one conversation.

Follow Derek on LinkedIn.

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