the relationship between the COO and CFO

097: Operating Like the Fortune 500 with Jon Reid

Jon Reid’s exposure to operations, auditing, and finance began during his tenure at General Electric. That experience serves as the cornerstone of his longevity as a C-suite executive and advisor. In this episode, Jon draws from his experience working with various Fortune 500 companies to give small business owners an operational model to aspire to. He explains why introverts make great COOs, why you should surround yourself with people smarter than you, and why small businesses must be creative when expanding since they can’t always access lines of credit the way larger enterprises can.

Special Guest: Jon Reid, Executive Managing Partner – K.L. Scott & Associates; Founder – Allen Reid Enterprises, LLC

Location:  Atlanta, GA  USA

Show Notes:

Jon’s List of Metrics Measured & Monitored by Most Fortune 500 (good for tracking on a one-page dashboard): 

  1. Net Profit
  2. Progress Toward Targets
  3. Revenues & Revenue Growth Rate
  4. Expenses
  5. Revenue Per Employee*
  6. Employee Engagement
  7. Profit Per Customer
  8. Order Fulfillment Cycle
  9. Project Completion Rate
  10. Downtime

*Not to be confused with employees as an expense.  This metric is similar to a Return on Investment (ROI) metric.

Related Episodes:

  • Episode 032: Running Your Business By the Numbers with Charles H. Green
  • Episode 035: Positioning Front Line Leadership for Success with Victoria Rodgers
  • Episode 050: Sparking Innovation & Sales Via Intrapreneurship with Carl E. Reid
  • Episode 096: Using Customer Intelligence to Improve Operations with Adam Hayes

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More About Guest, Jon Reid:
Jon Reid is the owner of Allen Reid Enterprises, LLC – a management consulting firm that specializes in corporate leadership, diversity training, skill and team building, small business development, and entrepreneur workshops. He is responsible for the daily operation of the business, which involves interacting closely with entrepreneurs and real estate investors.

Jon is also an Executive Partner at K.L. Scott & Associates and has over 25 years of combined corporate experience in the areas of business operations, regulatory compliance, Sarbanes-Oxley, project management, real estate, internal auditing and control systems, training, international procurement, and accounting.  He holds an MBA from Xavier University (Cincinnati, OH) and is a certified Project Management Professional (PMP).

 

More About Host, Alicia Butler Pierre:
Alicia Butler Pierre is the Founder & CEO of Equilibria, Inc. – a 15-year-old operations management consulting firm. Her career in operations began over 20 years ago while working in various chemical plants and oil refineries. She invented the Kasennu framework for business infrastructure and authored, Behind the Façade: How to Structure Company Operations for Sustainable Success.  It is the world’s first published book on business infrastructure for small businesses. Alicia hosts the weekly Business Infrastructure podcast with a global audience across 35 countries.

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096: Using Customer Intelligence to Improve Operations with Adam Hayes

“If you don’t have customers, you don’t have a business,” and this is why “You have to always think about continuous improvement.” Wise words from Adam Hayes, a civil engineer who now consults and serves as an operations advisor across various industries. In this episode, Adam reveals the three types of customers every business should consider as well as internal questions you should ask yourself as a guide to meet customer expectations, measure what matters, and ultimately increase profitability.

Special Guest: Adam Hayes, Independent COO & Founding Principal – Next Mesa, LLC

Location:  Roswell, GA  USA

Show Notes:

  • Hubspot: a marketing, sales, and service software designed to streamline and automate the customer relationship process.
  • Klipfolio: a cloud-based app for creating dashboards, reports, and performing visual analysis by retrieving data from over 100 sources it integrates with.  “Klipfolio helps you stay in control of your business by giving you visibility into your most important data and metrics.”
  • Strategyzer:  an app that allows you to rapidly sketch out business ideas with the Business Model & Value Proposition Canvas.  Design, test, and share business models and value propositions with your team in real-time to determine if an idea is worth pursuing before making further investments.
  • Business Model & Value Proposition Canvas:  a website where you can download these FREE templates.  The “Business Model Canvas is a strategic management and entrepreneurial tool.  it allows you to describe, design, challenge, invent, and pivot your business model.”  The “Value Proposition Canvas helps you tackle the core challenges of every business – creating compelling products and services customers want to buy.”
  • Alexander Osterwalder:  a compilation of articles provided by this contributor to the Strategyzer blog.  Topics include innovation, strategy, and visual business models.
  • Fishbowl: the top manufacturing and inventory management add-on software for Quickbooks.  It also integrates with a number of other services including Xero, Salesforce, WooCommerce, and Amazon among others.
  • NetSuite: a leading cloud-based Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and e-commerce business software suite by Oracle. NetSuite manages business finances, operations, and customer relations.

Related Episodes:

  • Episode 073: Wes Graham’s Primer on Process Improvement
  • Episode 092: Preparing for the Unexpected in Daily Operations with Joseph Powell
  • Episode 094: Retooling Operations for Customer Success with David Ellin

Like What You Heard? Please Leave a Review on Apple Podcasts

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More About Guest, Adam Hayes:
Adam Hayes is an experienced business leader and senior engineer with extensive business and technical experience in real estate, sustainability, waste minimization, compliance, business operations, manufacturing, capital planning, and remediation planning. His experience covers a broad range of sectors including industrial, food manufacturing, office, retail, hospitality, energy, telecommunication, healthcare, education, and housing. He provides an exceptional combination of business acumen, communication abilities, and analytical expertise together with an adaptable and disciplined leadership and mentoring approach.

More About Host, Alicia Butler Pierre:
Alicia Butler Pierre is the Founder & CEO of Equilibria, Inc. – a 15-year-old operations management consulting firm. Her career in operations began over 20 years ago while working in various chemical plants and oil refineries. She invented the Kasennu framework for business infrastructure and authored, Behind the Façade: How to Structure Company Operations for Sustainable Success.  It is the world’s first published book on business infrastructure for small businesses. Alicia hosts the weekly Business Infrastructure podcast with a global audience across 35 countries.

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