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President’s Message – January 2023

Happy New Year, EFBC. See a special message from EFBC President, Andy Sanghani!

January is a special month for many reasons. As the beginning of the new year, we have an opportunity to hit the reset button and start with a clean slate. The gyms are packed with those focused on improving their physical health. Businesses are implementing new plans to boost performance. The excitement of NFL playoffs is upon us. Last but not least, I am fortunate to call it my birthday month :). January 29th to be exact. That makes me an Aquarius. I don’t know what that means but my girlfriend Tina reminds me of it all the time.

I’m not sure how you all are in those days leading up to your birthday, but my mind gets filled with so many thoughts, mostly of reflection. At 42 years old, I’ve made more than my fair share of mistakes and poor choices. What has gotten me through each of those has been my family. My strongest feelings these days are those of unconditional love for my family. I’m happily in love with my partner in life (and lifetimes prior), Tina. Blessed father of two children, Ava and Ayaan. Spoiled baby brother of two sisters, Nisha and Grishma. Son of the most generous parents, Govind and Nalini.

With each of these relationships I’ve learned countless lessons. My children teach me everyday the importance of patience. Tina has taught me the growth that comes through feeling uncomfortable. My sisters have always provided mentorship – even when I didn’t care for it. Finally, my parents have shown me what it means to truly sacrifice and persevere.

As an owner of a 2nd generation family business, it all starts with family. I’m excited to celebrate my 42nd birthday with them and my other passion, pizza.

Andy Sanghani
EFBC President 2022-2023

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Meet Jodi Behrendt, President of Advantage Trailer

Get to know Jodi, a new member of the EFBC, who joined us in 2022.

Advantage Trailer
Founded: 1989
Location: Carol Stream, IL
Forum: Nirvana

Tell us about your career leading up to where you are now.
I was 17, when my family started Advantage Trailer so I did not have much of a career then but I did work at the business from day one until I graduated college. I left Advantage after college to take a job in the teaching field but soon returned back to Advantage. I left Advantage again, to raise my 2 boys but came back after they started school. The last time I left Advantage, during the great Recession on 2008 to teach again but Advantage kept pulling me back. I always new our business was special and the draw to work in the family business was to strong so I came back in 2015 and I am here to stay.

What do you like most about what you do?
Working with family, most the time. Proud of providing honest, value based service and products. Solving customer needs by providing answers to their companies needs and seeing our hard work pay off.

How did you hear about the EFBC?
I heard about EFBC from Rick Rasmussen, a member of EFBC, at a business brokers and intermediaries event. I was feeling very out of place and I happen to be sitting next to Rick and he invited me to an EFBC event. Liz then reached out to me and visited our business and I shared somethings with her and she gave me a contact to another EFBC member. That member and I went out to breakfast and talked for hours. After that I was hooked.

Why did you join, and what do you hope to gain from your membership?
I joined the EFBC because the people were so different from other business groups I attended, they were down to earth, they made me feel comfortable from the first event I came to. I loved that there are family connections with all the businesses and that there were woman involved with EFBC. I hope to gain some close friendships, some confidents and learn as well with the EFBC.

Join us in welcoming Jodi to the EFBC community.

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New Year, Same Shared Experience

We asked members what shared experience they received last year that they plan to carry into the new year!

New year, new you! Right? All of us are most likely welcoming the start of 2023 with a list of things we want to improve on. Maybe you want to take up a new hobby, like cooking or painting or you’ve vowed to be more active. This new year brings the opportunity to start fresh and create change to be your best self in your personal life and in your business. But that doesn’t mean we can’t carry over the valuable lessons we learned in 2022!

One of the most invaluable benefits of being a member of the Entrepreneur and Family Business Council is the community of peer support that surrounds each member. At the heart of that community of peer support is our practice of shared experience. Unlike giving advice, shared experience removes all judgement and allows you to make decisions and formulate solutions on your own accord.

When part of EFBC, our members are never alone in the obstacles they face in their business. They cherish the shared experiences they receive from other members who have been where they’re at and use it to devise their own solutions. We asked some of our members to recount a shared experience they received that they plan to continue using in 2022 to improve their business or personal life! See what they said below.

A few years ago, we attended an EFBC event that covered a business framework by the name of EOS (Entrepreneurial Operating System). We were intrigued and decided to reach out to other EFBC members to inquire about their experience with similar systems – and we learned a lot. We ended up moving forward with EOS due to its strong cultural fit and it has been transformative to 2XL. Even now, and throughout 2023, we will be continuing to strengthen our focus, discipline, and accountability – all pillars of EOS, and all brought about by EFBC’s learning series. In our experience, these events cover a wide array of topics, and can turbocharge your firm and knowledge – helping to clarify and simplify the business to achieve your goals.

-Robert Giammanco, CEO, 2XL Corporation

It’s difficult to share only one experience that’s helped me through difficult times, but most important to me are the experiences that have been shared that remind me mindset, plans and expectations at times in our lives need to be adjusted. I’ve learned that plan B can be just as rewarding AND successful as plan A. I consider my biggest personal growth coming from the success of plan B and not beating myself up over the original plan not working out like I expected.

-Sara Poss, Broker, @properties

Our members are grateful for the valuable insights they receive through EFBC and we’re grateful for them! Ready to learn more about how EFBC helps you learn and grow? Hear straight from the voices who make up our community in this short video!

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Happy Holidays from EFBC

Our team wanted to put a little something together for our community to show a little gratitude and portray our feelings this holiday season. It is a wonderful time to spend with loved ones and recharge as we head into the new year. To you and yours, happy holidays EFBC!

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Members Share Their Flex Forum Experiences

It’s been several months since we introduced our new Flex Forum option, so we caught up with two members who have participated in Flex Forum and asked them to share their experiences.

First, we talked with Kornel Grygo, CEO of Tasty Catering. Here’s what Kornel had to say.

Kornel, can you give us a little bit of background on your involvement with EFBC to date?

Tasty Catering has been a member of EFBC for about 12 years. We are family owned and very culture-driven. We believe in networking and finding opportunities to grow personally and professionally. EFBC gives us that opportunity. I’ve been attending events like the sales round tables for 5 to 7 years now but 2022 is my first year as a full member.

Was this your first Forum experience?

I’ve attended Community in Forum before. I believe that Forums are extremely important both professionally and personally. They allow you to align yourself with other businesses that have similar values. Since the pandemic, our industry took a big hit and we are trying to recover. Labor shortages are the biggest struggle that we are finding. A lot of other businesses that I talk to are as well.

What attracted me to the Flex Forum is that word, Flex. We do a lot of deliveries, corporate events, picnics, galas, weddings, etc. For me to make a monthly commitment to Full Forum is really difficult because our business changes day to day. Especially now trying to build up our staffing roster it is tough for us to make that time commitment.

Flex Forum is a really nice addition to the membership benefits because you have the flexibility that you participate as you are able. I didn’t want to go into a Full Forum and keep canceling, its not fair to the group and it goes against protocols.

What protocols did you observe at the Flex Forum?

The confidentiality amongst the group. Sometimes you are talking about sensitive things, not always business, some are personal. Sometimes they are intertwined. I liked the vulnerability.

In the Flex Forum I attended no one knew each other before that. It’s hard being vulnerable with people we know, much less people we don’t. The protocols do a great job of building that safety net and making sure that everyone is engaged and focused.

The no phone rule, while hard at first, forces you to really engage and makes you listen and focus on what is being said instead of checking your email. It also brings more respect to the presenter.

You are there to hear shared experiences and ask for input. You know that what you talk about is going to stay in that small circle. You can share whatever you want.

Liz was there to moderate and hold us accountable to procedures and protocols. As we were new to Forum it was good to have her there with reminders not to make suggestions but offer up shared experiences.

Will you continue to attend flex if your schedule allows?

Of course, it gives you a great platform to help others and to network.

We are busy in our business and our lives. And sometimes as leaders, we feel like we are the only ones going through things, which is not true. It’s good to share those experiences and put those problems out there. And also hear from others what they went through that might be able to help you with the challenges you are facing.

It’s the combination of seeking some of that help and being able to provide that help to others. It stimulates your mind to think about some things you are doing.

Would you ever consider going to Full Forum?

If something changes with the business in the next few years and the labor market stabilizes and we can get more staff onboard. If I have more time to commit, I will consider Full Forum. But for now I’m really happy that I have the Flex Forum option.

The Flex Forum option helps remove some of the stress of committing to Full Forum and not being able to attend the scheduled meeting.

With Flex Forum you can still feel like you are giving it your all, but you are not letting down your peers.

Would you recommend Flex Forum to others?

Definitely! We all hunger for continuing education personally and professionally. Sometimes you think about the Forum is all business growth. But it’s not. It’s personal too. Having like-minded people who you can bounce ideas off and share what they have been through. Can help you cope or figure out a way to solve some of your issues.

Flex Forum is a great platform where people can help you and hold you accountable too. Sometimes you leave from meetings saying you are going to do something and time passes, and you don’t. But with Flex Forum, if you see those people again, they are going to ask you about it. You said you were going to do this; how did it go?

Next up is Sara Poss of @properties. Sara has been a member of EFBC for 15 years and during that time has been part of two different Full Forum groups. Recently, Sara shared an update on a personal issue and discussed it with her Full Forum group. Sara had the opportunity to present on that same issue to the Flex Forum. Here’s what Sara had to say.

Can you compare your experience of sharing your update with your Full Forum and presenting on the same topic at the Flex Forum?

I presented a family issue related to the upcoming holiday; which was surprising to the Flex Forum.

The Flex Forum gave me shared experiences that was very different from my Full Forum. The Flex group’s shared experiences were to be patient and let things work themselves out. My Full Forum group on the other had presented shared experiences that were more action-oriented.

So, have you resolved the issue?

I took to heart what the Flex Forum shared and decided to be patient. I’m usually very action-oriented and a doer so it was very hard for me.

But, I felt it was best for me to take a backseat in this scenario and let this ride out.

Before Flex Forum I was taking action and not seeing any results. After presenting to the Flex Forum I stepped back a bit. And that is working very well.

Is there anything else about the Flex Forum experience that you want to share?

Because you don’t go to lunch or dinner we spent the last hour asking questions about the updates that the Flex Forum participants gave at the beginning of the meeting. I really liked that. It gave me an opportunity to learn more about others’ businesses that I have not had experience with.

There were no drinks or food so everyone was very focused on the questions and interactions.

Also, it gave me an opportunity to meet different members. In fact, I met someone that has become a friend and we’ve attended other EFBC events together.

Would you recommend others in a Full Forum to present at Flex Forum?

Yes! I didn’t know what to expect but my experience was great with the Flex Forum. Sometimes the people that don’t know you as well give shared experiences that can really resonate with you.

I wouldn’t give up my Full Forum, but I would present at Flex again to get additional shared experiences.

I also think that Flex Forum would be great if members have an employee that they want to get activated in EFBC. It’s a good way to get them started.

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Appreciation

The season of giving thanks is upon us. Many of us are in preparation mode doing our final grocery shopping for Thanksgiving dinner. Others such as myself will procrastinate until the very last moment and probably make several trips to Trader Joe’s within the same hour on Wednesday evening where I will appreciate the small and efficient footprint of their stores. Either way, there will be much reflecting back on the past year to think about what we are most thankful for.

I’ve been thinking quite a bit about this specific President’s letter and what I want to share with you all on what I am thankful for. I’ll spare you my list of family, friends, coworkers, colleagues, clients, vendors, etc. There are many people that I am beyond thankful for having in my life.

There is a word that is synonymous with “thanksgiving” that we are all very familiar with that kept popping up in my head and in my daily life: appreciation. I can’t recall that word being a part of my daily vocabulary prior to joining EFBC nearly 10 years ago and joining my forum. As we all know, showing appreciation to the presenter as well as appreciating our forum is something we do at each forum meeting. Those are our parting words to each other. It is part of forum protocol.

The beautiful thing is how much the word “appreciation” has become part of my life outside of my own forum. I’ve been visiting forums throughout EFBC and each one has appreciated me for coming by. On a recent vacation with Tina and a few our closest friends, we spent hours at each of our dinners appreciating everything we possibly could. Each round followed by finger snaps. What started out as a joke turned into daily appreciations and words of encouragement on a WhatsApp group chat. Last night, my kids appreciated me, with some coaching from Tina, on my offer to take them to a Bulls game which they turned down. The showering of appreciation has me feeling warm and fuzzy all over.

I appreciate each of you and your commitment to EFBC, your forum, and in being a leader. Thank you for allowing me the opportunity to serve on the board.

Finally, I’d like to appreciate Joe Hogel, a.k.a. MegaPros Joe, who recently passed away. I only had the privilege of meeting Joe on a couple of occasions, and it was a quick handshake and hello. Joe was a found member of EFBC and spent nearly three decades giving back to our community. In reading his obituary and listening to kind words spoken about him by other EFBC members it is more than apparent the impact he has had on many individuals. He will be missed.

To you and your loved ones, Happy Thanksgiving.

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We Got Wired for A Purpose!

As we head into the holiday season and say goodbye to the amazing Fall weather Chicago experienced, we want to reflect briefly on another successful program we hosted. Thursday, November 3rd, 105 guests gathered to support budding entrepreneurs at the Chicago History Museum.

From the onset, our programming goals were to raise money for DePaul University Coleman Entrepreneurship Center’s Annual Purpose Pitch Competition. Each year, the Coleman Entrepreneurship Center spotlights purpose-driven business ideas that focus on doing good rather than the bottom line. The Purpose Pitch Competition is a unique pitch session where Chicago startups pitch their greater purpose and how they plan to fulfill that purpose through their business objectives. Student and alumni groups compete to pitch their unique business goals and objectives to hopefully win dollars to fund their unique startups.

To hopefully draw in guests and appeal to a wide range of potential audience members, our program committee came together and voted on a keynote speaker from one of the worlds leading magazines on all thing’s tech, WIRED magazine. Greg Williams, UK Editor, gave a riveting talk on disruptive technology that spoke both to the students as well as our community of entrepreneurs and business owners.

Our silent auction had 37 items, from various sources, including some donations from our members. As a result of the generosity of our event attendees, we were able to successfully raise $9,000 to directly benefit the winners of the 2023 Purpose Pitch Competition. Our initial goal, as an organization was to raise $2,500 and our members went above and beyond our expectations and goals. The EFBC team and the Coleman Entrepreneurship staff really came together for a great event.

Our silent auction could not have been successful without the help of our amazing sponsors who donated. Big thanks again to all of them.

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Discover Your Gifts and Transform Your Team: The Promise of Working Genius

Building a successful team is one of the most important roles you have as a leader. And understanding your teams’ talents is a critical aspect of ensuring that success. EFBC member and Bisco, Inc. EVP Julie Suh shares her experience with Working Genius, a new tool that helps individuals understand their talents, transform their work and be a part of better functioning teams. And we all know better performing teams are indeed Genius!

How did you learn about Working Genius?

Patrick Lencioni, the founder of Working Genius, was a speaker at a conference I attended earlier this year. He talked about the concept of Working Genius, and it piqued my interest. The conference also gave out a code for a complimentary assessment which I took. That led to me listening to the Working Genius podcast which in turn led to me enrolling in their certification course that provided me with materials and access to videos to help me implement the assessment at Bisco.

Can you describe Working Genius?

Working Genius is a model to help people discover what they are naturally good at to help them thrive in the workplace and in their life in general.

The model involves six stages of work: Wonder, Invention, Discernment, Galvanizing, Enablement, and Tenacity (W.I.D.G.E.T.). The premise of Working Genius is that two of the stages bring you energy and joy (referred to as Working Genius), two drain you of energy and joy (referred to as Working Frustration) and the other two you are good at but they don’t energize you (referred to as Working Competency).

Working Genius is different from other tools as it is more about productivity than personality.

How did you implement Working Genius with your team?

I first rolled it out to our leadership team. They took the assessment individually, and we reviewed the results at an offsite leadership meeting and discussed what we did and didn’t agree with the assessments.

A team map was generated as part of the assessment to illustrate everyone’s Genius and Frustrations. That allowed us to look as a team to see if there was a stage we were lacking or if we were skewed in any specific areas. On a well-rounded team, each of the stages should be represented as a Working Genius. After a good response from the leadership team, we rolled it out to the mangers and then our marketing and sales staff.

Has knowing the Working Geniuses of your team changed how you approach work at BISCO? 

We develop new products, and a lot of our activity is focused around product development and project teams. The assessments lend themselves well to determining project teams and understanding where individuals’ tendencies lie. Depending on the stage of work we are at, knowing the team’s Geniuses helps us better understand and evaluate each other’s responses and actions as well as our own. I now also use Working Genius to pull different people into certain types of meetings to get a more balanced group.

Is taking the assessment a long process?

It’s less cumbersome than some of the other assessment tools, like DISC. It only takes about 10 minutes to complete.

What was the most beneficial aspect of conducting the Working Genius assessment with your team?

It was hugely beneficial to understand our leadership team and where our pitfalls and tendencies might be. And knowing that from time to time we might need to “borrow” people to supplement a particular Genius. For overall career development of our BISCO employees, it provides an opportunity to look at their results and see how it aligns with the work they are doing.

Working Genius can also apply outside of work. It can apply to home life, volunteering, etc. and has actually helped some members of the team understand some family dynamics.

What are your Working Geniuses?

I am Discernment (The natural gift of intuitively and instinctively evaluating ideas and situations) and Enablement (The natural gift of providing encouragement and assistance for an idea or project).

In keeping with her Enablement Genius, Julie would be happy to answer any additional questions you have about her experience with Working Genius. Email Liz at liz@myefbc.com to get in touch with Julie.

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Diwali: The Festival of Lights

As many of us are gearing up for Halloween and the upcoming holiday season, my family and others of Indian decent all over the world are celebrating Diwali, a five day celebration commonly referred to as the “festival of lights.” This year it started on October 22nd with the biggest day being October 24th. Diwali celebrations involve fireworks displays, lighting of candles we call “diyas”, decorating with rangoli (colorful art with dyed powder, sand, rice, etc.), large gatherings with friends and family, exchanging of gifts and sweets, and much more. While Diwali is a religious holiday with Hindu mythological significance, there is an even larger and very simple message behind it: the triumph of light over darkness, good over evil.

As a child of Indian immigrants, at times I shied away from publicly associating myself with my cultural roots. It was hard enough to explain to my non-Indian classmates what I ate for dinner. There was also the name calling – curry head, dot heat, Gandhi, and so on. I think back now on some of those names intended to hurt my feelings and they seem so silly. Kids would say I smelled like curry powder. Years later I learned that curry powder isn’t even from India! It is a blend of spices created by the British to evoke the essence of Indian 1 deposit casino nz.com. My parents taught my sisters and I that sticks and stones could break my bones but names could never hurt us. But the names did effect many of us in some way. We just wanted to belong in our community so we celebrated at home amongst ourselves.

Now that I have children of my own, I want them to know our culture is something we shouldn’t shy away from. There should not be a sense of embarrassment or resentment towards it. Culture is a beautiful thing and diversity is what makes America the melting pot it is today. It isn’t meant to be celebrated only amongst our family at home. It brings me joy to see large US corporations like McDonald’s and Target partake in the festivities. At Systematics, we decorate our office with festive Indian décor. It is difficult for me not to be involved and bringing my peers into the celebration.

As I light diyas this Diwali, I think of my fellow EFBC colleagues and the joy you bring to my life. An occasion to celebrate victory over defeat, light over darkness, awareness over ignorance. An occasion to celebrate life. May this Diwali fill your lives with new hopes for the future and new dreams for tomorrow. Happy Diwali!

Andy Sanghani
EFBC President 2022-2023

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Health Insurance Renewals: What You Need To Know

A blog post written by Strategic Partner, Marcus Newman, RHU.

It is that time of year again.  The broker is calling, presentations are being made, costs are going up, plans are changing, meetings are happening, paperwork is flying, and what is the result … besides chaos?

Our office is seeing an average increase of approximately 6%.  OF COURSE, that means that half of them are bigger than that and half are smaller, as that is the nature of “average.” The most useful question you can ask is, “What can be done to control cost?”

If you ask that question, you may get a little frustrated with the answer.  Once upon a time, an employer could tinker with the nature of the insurance plan and reduce the cost – the theory was that if we increased the deductible then the cost would come down more than the new risk.  This makes sense, PAY LESS every month and if you get sick you will have to pay more … but the more wasn’t as much as the less.  So, it was a win.

Now, in the ACA Era, this is no longer a sound strategy.  The reason is that small changes do not move the needle on premiums any more … you can increase the deductible, but you only save approx. 1% in premium and … what is the point of that? To save 5% or more on premium the deductibles need to double or even triple.  The premium needle just doesn’t move without wholesale changes to the plan design.  This type of move ALWAYS puts more financial exposure on the employees than premium dollars saved and that is NOT a win, ever.

Where should an employer focus their efforts if plan design is not going to win the day? First, a full shopping of the market is in order.  Have you heard of Cigna-Oscar? Why not?

Next, examine your cost sharing with your employees. Are you too generous relative to the market?  Are you not generous enough to attract and retain quality employees? Have you seen any benchmarking data? Why not?

If ever a wholistic approach to health insurance and employee benefits was in order, it is now.  We are facing a national staffing crisis. Your employee benefits can help you to manage but you must make sure that your strategy is in line.  Beware of unintended consequences.

The post-pandemic ACA influenced benefits environment (call it the PPACAIBE … just kidding) is like a corn maze … you can get through, it will probably be frustrating, you can get stuck and have to retrace your steps, but you will get through … let the people who made it through guide you.