of 7 Automatic Zoom Actual Size Page Fit Page Width 50% 75% 100% 125% 150% 200% 300% 400% SCI Emily InterviewEmily: [00:00:00] Hey, I'm Emily McIntyre. I'm a founder and the CEO of Catalyst Trade. We are a boutique Ethiopian importing company that is majority Ethiopian-owned and boots-on-the-ground, super focused on traceability and processing, and also really bought into the concept of doing good with our company and spreading increased benefit throughout the supply chain from producers all the way through to consumers.Alexandra: [00:00:30] This is great, because I think that you're going to have a lot to say about what we're going to talk about today, which is vision, mission, values, and why that's important in a business. So our big idea is that business goes beyond simply working inthe business, that without a clear understanding of why you're doing what you're doing and a long-term vision for your company, you'll have a harder time being successful. Have you seen this in your own business ventures? Emily: [00:00:54] Absolutely. I think that I can pinpoint 2017 as the year that I began to really understand that. Prior to that, my various business ventures were successful in some ways, but alsostruggled in the sense that we would ally with people who weren't really the best for our business, or ultimately not synced up with our core values, which weren't really well-stated. And we were interestingly, always very value-driven. We were always coming at this from an incredibly intentional and ethical and passionate angle, but we hadn't formalized our core values, and we hadn't found a way to incorporate that into our business. And it was really showing for us. We were just bumping into barrier after barrier, after barrier, and a friend got us thinking about this, and I ended up systematizing our core values in a unique way, which I've built on for the last few years.And I can absolutely pinpoint that as the time -the point where, not only did we start seeing really strong, forward momentum with our businesses, but we also began to really attract the right kind of partner for us and, you know, fast forward a few years, it's hugely integrated into our business now -core values, mission. Every decision we make is run through that and I'm happy to share about some of the ways that I've tried to systematize that. But not only that, we also, named our product lines after our core values, and, the more we align that way, we find the more we see success and we also see success in those core values being implemented in a practical way.And I believe that if you can't see your core values implemented in a daily way, There's not really much satisfaction in your work. And so, I find myself increasingly... everyday I wake up and I'm excited because what I do is I'm creating a world where the core values that I seek, they become more and more pervasive and exert more and more influence. That is something worth fighting for in business.Alexandra: [00:02:57] Wow. That's amazing. I love that. Yeah. I would really like to hear... that's actually the next question I was going to ask you, like, what do those systems look like for you? So we have different kinds of things that we talk about is finance, hiring operations, customers, and you talked about decisions. So you don't have to get to all of those, but those are kind of what we focus on. Emily: [00:03:17] Okay! Well, first of all, as a business owner or manager, there are a lot of yes/no decisions that have to be made. Do we partner with this person? Do we take this contract? Do we expand here? Do we take this loan? Do we, you know... there's tons of decisions where you simply have to decide you're going to go one direction or another, and you can get in the weeds about those decisions.So what I did in 2017 and have used dozens of times since is I actually created a template, a sheet of paper, that was divided into three columns. And at the top of each column were, you know, one of our core values. For Catalyst Trade, that is: sustainability, excellence, and innovation. And then I had a couple of, kind of open-ended questions to ask myself that I put below those.And then I use that as a place to notate with my business partners when I make a decision. So for example, if I need to decide whether to expand in a certain direction, you know, you do all your research, you gather as much as you can, and then you still have to make the decision. And you need some kind of a rationale or a rubric to make a decision or else you're just going on, like, gut calls, which are no good with business. You have to have a reason, for making any kind of decision. And I believe that those reasons should be informed by core values if you're going to run a cohesive business. So at that point, once we have all that information, what we do is we sit down and we'll ask ourselves those questions. So for sustainability the question might be, what does this decision look like 10 years from now?Best I can tell. Reverse engineer it, you know, what does that mean for now? And also does this promote longterm success for all of our stakeholders, not just ourselves at this moment, but also the producers that we are allied with and the different stakeholders along the way. That's the sustainability piece.Moving over to the column for excellence, we would ask, does this promote excellence?Are we getting better with this or worse? And it actually is a good question to ask, because sometimes you have the chance to speed up your processes. That's excellent.But then, maybe it's incorporating less quality. That's not excellent. Unless you decide that your higher excellence is having better systems, in which case go for it. So you can ask yourself those questions and kind of narrow it down.And on the innovation piece, one of the questions is actually, is there another way to approach this? Are we missing something? Are we blind here?And that's where I like to call in counsel from people I trust. "Hey, you know, here's the scenario? Am I missing something? Do you see something I don't?" And once I've done all of that, usually the decision is very clear to make. So there's that on decision-making. You asked about hiring. I think that's a really cool thing to talk about with core values, because we all know thatthe coffee industry is often not very cohesively run with hiring and HR is sort of an afterthought. That causes so many problems and I see that as a basic respect problem. If we don't respect our employees enough to treat them seriously and create systemsthat will allow them to have high quality of life while working for us and grow and become the kind of people that they want to be while they're working for us, then we're failing in our roles as employers. So for hiring, I think that it's important to approach this with core values front and center. Not just communicating core values and what they mean to potential employees, but also letting those drive the onboarding process and the continual management process, as well as any kind of reviews that happen.I also have developed an incredibly detailed rubric that I use to try to assess some of the softer skills and personality aspects of potential employees in a way where I assign them kind of a numerical value based on what we are looking for. And when I have maybe 40 or 70 different line items in this sort of ranking system, it allows me to clearly see people's strengths and weaknesses and how they stack out against what we need.Of course, you know, part of excellence is judging people on their potential, but also seeing where they currently are and where that might mesh with where we're going. Alexandra: [00:07:28] Right. Emily: [00:07:29] I can go into any more detail you like, but, feel free to move us along to another topic. Alexandra: [00:07:34] So, okay. That's cool. So you mentioned decisions and hiring and... what would you tell someone ---so like for probably like you pre-2017, like someone who wants to go into the coffee business, coffee shops, whatever that looks like, and they want to move forward without that clarity, what would you tell that person? Emily: [00:07:55] Don't do it. You're setting yourself up for failure. The world is littered with business people who got into business sort of in a haphazard way. I was one of those and I'm lucky because my business partners and I have learned really hard and really fast and sometimes the hard way, how to systematize things and approach it from a more methodical angle. We have to be methodical about the way we structure our businesses, both from an ethical and core value standpoint, and also from the systems, to deliver the product that we want in such a way that our customers will want to take it.So, yeah, I would say. Just get clear on everything, as much as you can, knowing that this will all change as soon as rubber hits the road, as soon as your business gets engaged. Yeah, you're going to immediately find that you were totally off-base about some things, but if you have some kind of a framework in place, then you actually can make modifications instead of just having to scrap it all and start over, which is chaos and costs a lot of money when you have a working business.Alexandra: [00:09:00] We also wanted to talk about something more like what's going on right now with COVID. And do you think that businesses, with that clarity -maybe even you've experienced this in your own business -would fare better during COVID or at least have a better chance?Emily: [00:09:18] 100%. 110%. I would just say -and I have no data to back this up, this is just me saying this, you know, estimation -I would venture a guess that those companies right now, during COVID, which are run through mission value and constantly improving. You know, the coming to center so that the mission and value and the actions are more and more increasing, increasingly resonating together, thatkind of company, I th