One of our organization’s mantras, if not obsession, is our desire to implement systems within our client’s operations to allow for streamlined operations. A beautiful thing occurs when an entrepreneur is not bogged down by administrative muck: he or she is able to dream. When an American small business owner dreams, special things happen. Expansion plans, acquisitions, diversification of product lines: a business owner must have the peace of mind to think in bold macro terms.
This is part of the American historical mindset. Some of the greatest transformative acts in our history came with much resistance. Let us look at several bold, transformative decisions and that decision maker’s ambivalence towards the vehement opposition resulting therefrom.
Acquisition of The Louisiana Territory was a long-term goal of President Thomas Jefferson. Seeking control of the vital Mississippi River port of New Orleans, Jefferson...
The story of Milton Snavely Hershey comprises the classic mathematical formula of the American dream: Adversity + Hard Work + Resilience + Giving Back to Your Community = Successful Life and Legacy. Today’s story will also include two small doses of “borrowing”.
Hershey failed twice in business before opening the Lancaster Caramel Company in 1886. Miserably. Though the third try did end up being the proverbial charm, the company came close to completely failing. Hershey was plagued with bad credit after these prior failures. A bank cashier came to the rescue by co-signing the loan himself, giving Hershey the liquidity, he needed for a batch of raw ingredients that would keep the company going.
Perspiration also needs a bit of inspiration. In 1893, Hershey had gone to the World’s Columbian Exposition in Chicago and attended a demonstration of a German chocolatier. This demo included machinery that streamlined the entire chocolate-making process....
In this video, we will talk about how we're eliminating all credit card processing fees across the boards for all merchants.
This is the tale of a couple of small-town German brothers, Adolf and Rudolf Dassler, from the rural town of Herzogenaurach, at the turn of the last century. Rudolf, the 3rd born, and Adolf, 4th born, humbly assisted their Mom Pauline with her laundry service by delivering the cleaned linens and clothing to their neighbors.
Upon completion of his high school education, fulfilling a promise to his father, Adolf began an apprenticeship as a baker. However, his true interests revolved around sports, so he occupied his free time playing athletic competitions in track and field, soccer, boxing, ice-hockey, javelin, as well as skiing and ski jumping. After finishing his apprenticeship, ‘Adi’ pursued these other interests.
Adi soon becomes an accomplished athlete, and more relevantly to my lesson today, a careful observer. He recognized the athletes of each discipline he participated in...
How Forgetting One’s Wallet Affected the Contents of Every Wallet Thereafter.
In 1949, businessman Frank X. McNamara forgot his wallet while dining out at a New York City restaurant. Cheeky trick. Fortunately, his wife rescued him and paid the tab. It was an embarrassment he resolved never to face again. Legend has it this was the true start of the feminist movement.
One year later, February 1950: McNamara returned to Major’s Cabin Grill with his partner and trusted attorney, Ralph Schneider. When the bill arrived this time, McNamara paid with a small cardboard card, known today as a Diners Club Card. This event was hailed as the “First Supper,” paving the way for the world’s first multipurpose charge card. Diners Club made its mark on history becoming the world’s first independent credit card company. ( A charge card as distinguished from a credit card, as it requires paying off your full balance once a month.)
In its first year of...
One Doesn't Go to a Shoemaker to Hem One’s Trousers.
Many small business owners started their companies to pursue their passions: designing jewelry, helping care for people, opening a restaurant, even starting an online store or manufacturing company. Then they start wearing numerous hats: CEO, marketing, product development, supply chain, and sales. Who has time for all this? Moreover, in this current environment, who has the tolerance for in-person, sit-down meetings where an hourglass is turned?
Advisors now, more than ever, need to take a personalized approach to supporting small business owners solve unique problems that hinder growth. Blanket solutions that feign to cure all ails are no longer viable. A bespoke, customized solution is essential.
Shield Advisory Group is keenly positioned to address these varied concerns as they arise.
Shield Advisory Group specializes in getting our clients access to credit and capital at the best rates and terms available.