KKD8973 Base to Mobile!
Peter Shaw, Partner B2B CFO
KKD 8973 base to mobile! Are you out there Cotton Pickin’ Pete? For most of my childhood those were the words I would use almost every day. Cotton Pickin’ Pete was my Dad; whose name was Jim Shaw. Cotton Pickin’ Pete was his CB Radio call name. We used CBs to dispatch our local cab company. At its peak, my Dad ran eight taxis from two different New Jersey towns. From the age of eight I was a dispatcher and pit crew after school for the taxis. I drove the cabs as soon as I had a license. It was life in a family owned business.
Dad was a serial entrepreneur. In the early 1960s, he had a vision of a future in transportation of children to and from school. It fit perfectly with traditional slow times of the day for taxi demand. At that time in New Jersey, the number of two family incomes was starting to increase. Additionally, many families did not have multiple cars. The need for school transportation was growing. At first Dad could fill the need with his cabs, but that was becoming a logistics nightmare. He started considering using buses so, all of the sudden he was in the school bus business. His vision was becoming a reality. At this point the families paid the costs of the school bus transportation, and with his reputation as the cab driver, volunteer fireman and active community member he had an advantage with the families. Success, as always leads to other interested parties. Dad was going to need to expand to survive in his new school bus business. The towns were now looking at providing this transportation and this meant competing through a bidding process. It also meant having a fleet of buses. Dad went to a successful individual in our community, whom he considered a friend. They were both volunteer firemen for years. Dad asked his friend, if he would be interested in investing in a new business or could refer him to someone else who might be interested. With no protection from confidentiality agreements and non-competes, Dad laid out his entire business plan, the pricing schemes he had developed, the approach to bidding and the deadlines. His friend said he was interested and wanted to consider it further. He did consider it and decided to cut Dad out. Dad had provided him everything he needed. Over 10 years later Dad and I were driving down the highway past the “Not to be Named” Bus Company, which now had an inventory of hundreds of buses. His friend went on to make millions in the business. Dad could not take his eyes off the vast parking lot of buses and I could see the tears in his eyes.
These events, and other situations where my Dad was burned by being a trusting soul, have shaped my life. I am still a trusting individual, but believe strongly in Trust, but Verify! I also have spent a career as a CFO trying to protect the business I have served from being burned in the transactions they engage in. Every deal must be thoroughly vetted for legal, business and financial aspects before we can move forward. Several months ago, I was introduced to B2B CFO® , a group of almost 250 experienced CFOs who share a common vision of serving private and family owned businesses, who need expert services to succeed. Jerry Mills, Managing Partner of B2B CFO® has spent 30 years providing these services. He has written books on how these privately and family owned businesses are exposed to more risks then their publicly owned competitors. His book, The Danger Zone, details these exposures in a format where business owners can easily understand and implement solutions to protect what they have built. “We improve the lives of business owners”, is how Jerry describes what we do! I hope that I can do that for a business owner like my Dad.
B2B CFO® focuses on privately held business that have successfully navigated the start-up phase and are entering the next risky phase of managing growth. We offer free initial assessments of a company’s current state versus its desired state. While there is no out of pocket cost, this is not a free lunch – we will want you to spend time with us so we can help you improve your life and your business. Visit me at PeterShaw@B2BCFO.com.