For Immediate Release
PINNACLE V, LEADING INTERIOR PLANTSCAPING
PEER GROUP AND BRAND LAUNCHED
KANSAS CITY, MO, April 7th, 2015 – Five industry-leading Interior Plantscape companies have recently formed an executive level Peer Group focused on being “Innovative Green Industry Leaders”. The Group, named Pinnacle V, have launched a new logo and website alongside their formation.
Responding to the desire to ever-changing business networking opportunities, the five business owners met in Fort Lauderdale, FL earlier this year to discuss the potential of forming a group based on integrity, relationship, communication, collaboration and cohesiveness. The birth of Pinnacle V was the result of that three-day, intensive retreat focused on transparency in business.
The five companies that comprise Pinnacle V are:
The Groups current focus is on nationwide career recruitment and training, sharing marketing best practices, financial benchmarking, human resources collaboration, developing client pipelines, and volume pricing among industry and non-industry vendors.
Pinnacle V has issued the following as their Mission and Values Statement:
Pinnacle V is a combination of like-minded, forward-thinking, professional, passionate, driven and dedicated entrepreneurs.
Via collaboration of best-practices, our group invests in personal, professional and financial growth of our lives and our businesses.
Our core values are Vulnerability, Trust, Relationships, Honesty, Transparency, Encouragement, Collaboration, Confidentiality And Commitment.
Jason Cupp, Kolbe Certified Growth Consultant, with Kincaide, LTD, of Kansas City, MO, has been retained to facilitate and represent the group, as well as serve as Management Consultant to each individual company in their everyday business strategy.
“We knew from the first minute of our first meeting that this group would create something amazing, focused on the longstanding relationships that we all have had for many, many years,” Cupp stated, “With five of the most innovative, award-winning, and growth-focused companies in the Interior Plantscaping world, we are quickly working towards the most impactful group of industry peers I have ever witnessed.”
Cupp currently Chairs the Interiorscape Industry Coalition (IIC) and is a frequent speaker at events across North America for the Interior Industry.
All member companies are proud members of the National Association of Landscape Professionals, and recently attended Student Career Days at North Carolina State University in Raleigh, NC. Pinnacle V was the Lead Sponsor of the two industry events: Interior Plant ID and Interior Design. Additionally, Pinnacle V hosted its own booth at the Career Fair, and interacted with hundreds of students interested in careers in the interior industry. Chris Raimondi, Pinnacle V member, is the current Chair of the National Association of Landscape Professional’s Interior Specialty Group and Cupp serves as a member.
Pinnacle V’s next face-to-face retreat will be held in early June on Balboa Island in Orange County, California.
The editor of Lawn & Landscape Magazine, Chuck Bowen, and I do a regular radio interview on business topics that affect not only the landscape industry, but any business. Here is the latest episode we recorded last month on Human Resources and what to do when an employee asks you to fire them and commit fraud in the process, amongst other nuggets. Check it out, there might be something in there for you!
If you struggle with HR issues, I have resources that can help, including “HR In A Box” where our staff HR guru solves your HR concerns, and he knows the laws in all 50 states as well as Canada… Listen and learn! And let me know if you have any questions!
Hey friends, join me in a fun and impactful endeavor for the next week. I started this morning and already amazed by the grateful responses I’ve got. Here it is: Wherever you go, whatever you do, whoever you interact with, whatever phone call you’re on, or email or text you receive – end it with “Have a wonderful Thanksgiving” or “I really hope you have an amazing holiday”
People today are used to being overlooked, under-appreciated, and generally talked down to. This morning, I’ve said this to the lady in the elevator at the hotel, the Starbucks barista, the flight attendant, and the person who just held the door open among others, and the look on their face, and the tone in their voice is one of surprise.
So, make impact on those around you – show the true nature of the Thanksgiving holiday by letting your actions and words, to those you know and to complete strangers, emphasize your care for people and the relationships around you.
Feel free to share this, make maximum impact, and most of all, have an amazing Thanksgiving week!
Anymore, I sure don’t understand how Facebook targets advertising, but for the last week, I’ve seen “sponsored” ads for a company called Fundbox. Essentially, they allow you margin (aka BORROW) against your Accounts Receivables to increase cash flows.
A quick Google search brings up many who challenge the company, as these type of services are usually VERY expensive. Granted, I didn’t do a full-blown search on the costs, but did find several reliable sources that say the fee to borrow against your receivables is somewhere between 1% and 6% of the invoice total. SO, if you have an invoice for $1,000 out there and want your cash faster than your client pays you, you’ll pay $10 to $60 for that convenience. For a great blog entry on Fundbox, check out this well written and surmised post by GirlmeetsGeek here. I’m also quite impressed with the reply from their CEO Eyal Shinar. Well said.
This post really isn’t about Fundbox or other short-term margin companies that allow you to borrow against your receivables… It’s really about receivable management to being with. I speak often about the topic, and honestly, if you have to borrow against your receivables, and are NOT in a highly seasonal business, the problem might lie in your business model, the way you write your contracts, the way you report your receivables, and the way you allow your clients to pay you.
Trust me, I know.
At one point in my career, my company had a $4M Line Of Credit and it was TAPPED. I lost sleep at night. And we were only paying 5% at the time. Think about that for a second. When our LOC was fully drawn on, we were paying almost $17,000/month in interest. Given our business model that was about 4-5 months of that type of balance. So, we would pay $70,000 or so in interest. IF we used Fundbox (and I doubt we could have given the size of our A/R) and we were charged the maximum 6%, we would have paid $240,000 in “fees” for the same convenience. At the lowest fee, in their defense, we would have paid $40,000. BUT, it would have been much more than that because although our LOC was tapped at $4M, we borrowed, paid it down, reborrowed, and paid it down. So, we might have borrowed a total of $6-8M over those months, so at the lowest fee, we would have still paid the same amount. You get what I’m saying.
All that said, you don’t need to. Think about this: When was the last time you put gas in your car? I would guess it was in the last few weeks, right? Did you agree to pay the gas station later? No, you sure didn’t. You either paid cash, put it on a debit or credit card, or drove away from the pump. You see, the gas station got their money AS SOON AS THEY provided you with the product. And most companies just simply don’t work that way.
The lesson to be learned here is that there are ways to invoice on demand, get paid almost immediately, and reverse your cash flows. Most of my clients today do that, and their cash flows have changed dramatically, sometimes 3-4x what they were previously… and it all comes down to understanding your financials, your cash flows, your processes and making it easy for your clients to do business with you.
Did I strike a chord? If so, say hi and lets chat. If not, consider yourself lucky – most business owners that reach out to me have a cash flow problem, and it is so much fun to watch those numbers reverse themselves relatively quickly. Until then, have an incredible week. :)