Prism Of Value Prism of Value

Sometimes we have to step back to step forward. That was something that advertising executive and entrepreneur Cary Hatch did when she decided after several successful decades to merge her firm MDB Communications with Toledo-based Hart. In this episode of the Prism of Value podcast, Cary discusses the challenges and opportunities of the merger, her own evolution as a leader to take this important step and some of the practical things she did to communicate and facilitate culture building at the expanded firm.

It is well recognized that in order to understand the value of something, one must first understand both its strengths and limitations. In order to do this, one needs to go through specific steps. The same holds true for ourselves and our business. If we want to understand the genuine worth of our businesses and ourselves, we must undergo these tests. Some people overlook some of the process's preliminary steps. Starting at the beginning is still the greatest course of action because we can see all of the inefficiencies and difficulties along the way. In today's episode, we have Cary Hatch, CEO of MDB Communications and a communicator extraordinaire, having 30 years of experience in the advertising and marketing field. She emphasizes the importance of building a valuable company and how she gains partnerships with other businesses. She also shares some advice on how to proceed in unfavorable situations and still establish high value of herself and her company.

Key Takeaways

The Guest’s background and her company
How to build a valuable company and getting partnerships
Navigating uncomfortable circumstances and establishing values along the process
Takeaways and advices for our audience

Quotes

"Humility is key to success, and I also think you must have a mentioned objectivity." - Cary

"You constantly have to be evolving. You have that responsibility for your people, your clients, and honestly, for yourself." - Cary

"Give yourself permission to start at the beginning. It's not starting at the bottom. It's starting at the beginning." - Cary

Featured in this Episode

Cary Hatch
CEO and Brand Advocate, MDB Communications
Linkedin: https://www.linkedin.com/in/caryhatch
Profile: https://www.mdbcomm.com/cary-hatch
Company Website: https://www.mdbcomm.com

Chapters

00:00 Episode and guest intro
02:05 Cary’s company and what is all about
03:05 Building the company and getting partnerships
09:53 Navigating through discomfort situations
15:49 Going into process and establishing values
19:49 Piece of advices for the audience
22:47 Maintaining the proper perspective
24:47 Challenges of the future and opportunities
30:06 Final Thoughts

Maintaining a dynamic and vibrant organizational culture has never been more important or difficult. For leaders like Phillippe Lanier, who oversees all activities for EastBanc Tech, a 600-person global real estate, retail,  and technology company, building and empowering his team is a central focus and that involves letting go and an emphasis on being of service.  In this episode of Prism of Value, Phillippe discusses his approach and philosophy managing this family-owned company, navigating through the pandemic and laying the foundation for the future.  

Key Takeaways:
0:00 Intro
1:32 Philippe talks a little bit about his company, how it came to be and what it does 
2:43 Philippe talks about communication in a family ran company and how it impacts the company 
3:33 Philippe talks about how having a mix of businesses in the company reinforce each other 
5:33 Philippe talks about the number of employees that they have in total in their company 
6:36 Philippe talks about how they maintain connectivity in all of their employees so that they understand the company and family values to do business
7:27 Philippe talks about how the pandemic has impacted their business and what they are doing to cope with the situation 
9:39 Philippe talks about some of the things that they are doing to keep the positive energy and connectivity to manage the pandemic situation 
13:46 Philippe shares some of the things that they have learned through the pandemic that will guide them through and some of the challenges they faced and are still facing
16:50 Philippe talks about the importance of good communication in a company and some of the challenges that he faced as a leader during the pandemic 
20:23 Philippe shares his advice to leaders, someone starting a company or someone who is moving to a leadership role 
22:40 Philippe talks about how the people that he works with are important to his brand and how, in a sense, they are the brand 
26:12 Philippe talks about some of the things that give him hope and optimism these days 

Shows Mentioned:
Whack-a-Mole
https://home.treasury.gov/policy-issues/coronavirus/assistance-for-small-businesses/paycheck-protection-program 
https://www.netflix.com/ 

Quotes Mentioned: 
“When you build something new that you want to keep, you try to build it well.”
“You should enjoy your work, you're better at it when you enjoy it.”
“We’re in such a disruptive and dynamic world, and if you don't have an infrastructure that can adapt rapidly, then you're constantly chasing bad decisions.”
“Part of good decision making is listening as much as speaking.”
“The good leaders were the ones that recognized that they were born into servitude.”
“You have to run your company acknowledging that there is more risk ahead, and not the other way around.”
“The company starts with a team.”
“Everybody is human.”

Guests Social Media Links:
Website: https://eastbanc.com/ 
LinkedIn: https://www.linkedin.com/in/philippe-lanier-735814/ 
Email: planier@eastbanc.com 
Twitter: https://twitter.com/pmlanier 

Whether we are a business or a not-for-profit, it is vital that our stakeholders understand and appreciate our value.  Mark Stiving, who helms a company called Impact Pricing, has spent a career studying value and how it translates into favorable pricing both for the seller and buyer.  In this edition of Prism of Value, we discuss the complex mathematical and psychological factors that affect how our customers, clients and donors make decisions on what they will buy and how much they will pay for it.

Key Takeaways: 
0:00 Intro
1:50 Mark defines what value based pricing means
3:05 Mark talks about how solopreneurs can truly find out what someone is willing to pay
5:55 Mark talks about how you diminish your value when people ask for a lower price and you accept it
8:00 Mark talks about his perspective on value and how you should translate your product in features to get people to care
10:47 Mark explains how you have to think about the problems your feature has so that you can truly set an accurate value for yourself
14:17 Mark explains RFP's (request for proposals) and why to avoid them
17:53 Mark explains attitude plays a big role in pricing things and how you have to accept "no's"
19:31 Mark talks about the two halves of pricing, value and psychological
25:07 Mark talks about his approach to a clients webpage, and how he would view it as a customer and then approaches the changes from there
27:47 Mark explains to Liz how communications companies like her own can use his approaches to measure their success

 

Resources Mentioned:

Proctor & Gamble - The Procter & Gamble Company is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio, founded in 1837 by William Procter and James Gamble.

Cisco - Cisco Systems, Inc. is an American multinational technology conglomerate corporation headquartered in San Jose, California. Integral to the growth of Silicon Valley, Cisco develops, manufactures and sells networking hardware, software, telecommunications equipment and other high-technology services and products.

CrowdStrike - CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Sunnyvale, California. It provides cloud workload and endpoint security, threat intelligence, and cyberattack response services

Predictably Irrational: The Hidden Forces That Shape Our Decisions - https://www.amazon.com/Predictably-Irrational-Hidden-Forces-Decisions/dp/006135323X/ref=asc_df_006135323X/?tag=hyprod-20&linkCode=df0&hvadid=334204344421&hvpos=&hvnetw=g&hvrand=14889700127184455880&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9008165&hvtargid=pla-662733339546&psc=1

Win Keep Grow: How to Price and Package to Accelerate Your Subscription Business - https://www.amazon.com/gp/product/B097MY328L/ref=dbs_a_def_rwt_bibl_vppi_i0

 

Impact Pricing: Your Blueprint for Driving Profits - https://www.amazon.com/gp/product/B005DIBA4O/ref=dbs_a_def_rwt_bibl_vppi_i1

 

Guests Social Media Links: 
Website: https://impactpricing.com/about-us/
LinkedIn: https://www.linkedin.com/in/stiving/
Twitter: https://twitter.com/MarkStiving?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

Terri Lee Freeman is a tireless advocate for justice, equity, and inclusion and for making sure that voices that have often been marginalized are heard. In her current role as Executive Director of the Reginald F. Lewis Museum of Maryland African American History and Culture and former post as President of the National Civil Rights Museum, Terri works to bring  people together for dialogue and fuller understanding of history. In this podcast, Terri discusses the challenge of keeping cultural institutions viable during the pandemic and providing a safe space for connection,  important conversations about race, and  inclusive path forward.

Key Takeaways: 
0:00 Intro
1:23 Terri shares a little bit of history about Reginald Lewis Museum and why she is excited about leading it 
5:24 Terri talks about the role that museum plays in bringing people together, have conversations and just connect 
8:47 Terri talks about some examples of how she has made people come together and be able to talk about difficult topics like race, equity, and inclusion at these museums 
12:34 Terri talks about the features that museums bring to the table that facilitates conversations of race, equity, and inclusion 
15:23 Terri talks about where she gets the energy to keep on advocating for these difficult conversations to happen for so long even when people don’t want to have them 
22:01 Terri talks about some of the ways in which she has been navigating through the pandemic especially as a leader
28:59 Terri talks about how they had to pivot to digital and virtual programming in the museum due to the pandemic 
30:29 Terri talks about the things that give her optimism that other leaders could use to their benefit too

Books Mentioned: 
Inclusive Museum Leader: https://www.goodreads.com/book/show/57344518-the-inclusive-museum-leader 

Shows Mentioned:
National Civil Rights Museum: https://www.civilrightsmuseum.org/ 
Greater Washington Community Foundation: https://www.thecommunityfoundation.org/ 
Black Lives Matter: https://blacklivesmatter.com/ 
Putting Race on the Table: https://www.puttingracismonthetable.org/ 
RACE, Are We So Different: https://www.americananthro.org/LearnAndTeach/Content.aspx?ItemNumber=2062 

Quotes Mentioned:
“The whole reason for people to come to a museum is not just to take, but also to give.”
“All museums now are trying to figure out how do I better engage the audience?”
“All labor had dignity.”
“If we can’t talk about race here, we can’t talk about it anywhere.”
“Different doesn’t mean bad.”
“We have to acknowledge the past and we have to acknowledge those differences and understand each other’s truths.”
“You can’t exclude more than 50% of the population.”
“You have to put things out there and you have to put it out as the truth.”
“Once we get beyond our issues with race, then we’ll be able to really function as a powerful society.”
“Every day that babies are born, there’s going to be a future.”
“Some things have to be broken for us to fix the situation.”

Guests Social Media Links: 
Website: https://www.lewismuseum.org/ 
LinkedIn: https://www.linkedin.com/in/terri-freeman-8879754/ 
Twitter: a href="https://twitter.com"...

Lidia Soto-Harmon is a connector, and the pandemic didn’t slow down her efforts as CEO of the Girls Scouts Nation’s Capital (the largest chapter in the country to bring the thousands of girls and troop leaders together for meaningful and important connection.  Full of optimism, inspiration and practicality, Soto-Harmon and her team successfully pivoted to virtual events and communication. And as we all continue to deal with uncertainty, Soto-Harmon offers some valuable lessons and insights for all of us about staying connected and engaged in this edition of Prism of Value: Navigating the Pandemic.

Key Takeaways: 
0:00 Intro
0:56 Lidia shares a little bit of history about Girl Scouts in Nation's Capital and also what they do 
2:40 Lidia talks about how she was able to put up a Camp CEO in the Women’s Advisory Board during the pandemic and made it meaningful both to mentors and those girls 
4:45 Lidia talks about how they pivoted internally during the pandemic and how they were communicating out to the people on what they were doing to the girls 
7:48 Lidia talks about the advice that she provided to the troop leaders to keep the girls socially engaged since at the age they are in, it’s hard for them not to be social 
10:59 Lidia talks about the things that she is proud of that they did during the pandemic in terms of empowering young women and building a community 
13:56 Lidia talks about the lessons that she learned during the pandemic and also things she now knows that she wishes she had known before the pandemic 
16:45 Lidia talks about how being in the pandemic has changed her as a leader and what it is that has changed 
19:31 Lidia talks about how she shifted and able to evaluate that work was being done in the right way given that everything was now virtual 
21:54 Lidia also talks about the exciting things that she is really looking forward to when everything reopens after the pandemic 
23:27 Lidia talks about how the pandemic in terms of the lockdown has taught people not to be taking people and relationships for granted and being intentional about everything 
25:30 Lidia talks about the different Girls Scout cookies that they have and also talks about what her favorite cookie is and why 
28:18 Lidia talks about Camp CEO of this year and what it will be all about and also talks about mental health and why we need to give ourselves space to breath 

Shows Mentioned:
The Syrian Women’s Advisory Board (WAB) was established by the Office of the Special Envoy in January 2016, in partnership with UN Women and with the support of the UN Department of Political Affairs. The core idea behind the WAB is to ensure diverse women’s perspectives and the gender equality agenda are considered throughout the political process and at key junctures including when peace talks are convened in Geneva. 

Camp CEO is a weekend leadership retreat that connects high school Girl Scouts with accomplished female professionals through teambuilding and skill sharing in a relaxed camp setting. Girls will have the opportunity to learn leadership and life lessons while the women mentor and inspire the young leaders of tomorrow.

Zoom Cloud Meetings is a proprietary video teleconferencing software program developed by Zoom Video Communications. The free plan allows up to 100 concurrent participants, with a 40-minute time restriction. Users have the option to upgrade by subscribing to a paid plan. 

Samoa Girls Scout cookies are crisp cookies with caramel, coconut, and dark chocolaty stripes.

Quotes Mentioned:
“In times when there's a crisis, you need to over-communicate.”
“We have to all sort of learn to have grace.”
“Uncertainty is very anxiety-producing.”
“Give yourself a little more grace in times of uncertainty.”
“Organizations that haven't learned that lesson and are not willing to be...

Gina Shaefer, who operates 13 Ace hardware stores throughout the Washington, DC region is an optimist through and through.  Her positivity and commitment to doing business that does good for her employees and community has enabled her to come through challenging times of the pandemic stronger than ever.  In this episode, Gina shares her secrets of staying power and success: hint listen to everyone carefully and be prepared to communicate often and in different ways. And signs of optimism: sales of flower pots are up.