Category Archives: Outsourced CMO

WIMS Client Spotlight: Industrial Strength Industries

Industrial Strength Industries was founded to address the needs of First Responders, Law Enforcement, and Industrial clients in New York State who seek to include small businesses in their Supply Chain. They are a woman-owned small business with over 25 years of experience. Industrial Strength Industries can assist you in meeting your diversity and small business goals. Their services include expert sourcing and on-time shipping from their network of Search & Rescue, SCUBA, Tactical, and Industrial manufacturers and distributors. Their objective is to service their client-base with excellence.

Past Performance Includes:

– US Air Force
– US Army
– US Marshals Service
– US Coast Guard
– US Navy
– US Department of Homeland Security
– US Department of Alcohol, Tobacco & Firearms
– US Department of Veteran’s Affairs
– US Bureau of Land Management
– US Customs & Border Protection
– US Drug Enforcement Agency
– US Department of Defense
– NOAA
– FEMA

Reach out to them by visiting their website https://industrialstrengthsupply.com/ . They are sure to get back to you in a prompt fashion to address your Search & Rescue, SCUBA, Tactical, Safety, and Industrial needs.

WIMS Client Spotlight: Elevate Lifestyle

Elevate Lifestyle recently launched a new website and platform highlighting Charlotte’s popping spots of old and new, upcoming events, and entertainment news. They are committed to helping reinvigorate the hospitality industry and bring the Charlotte area back to life in 2021 and beyond!

Elevate Lifestyle is the leading source in Charlotte for entertainment and lifestyle information and is a proven way to reach a highly desirable demographic. These savvy consumers are brand literate, known for choosing quality merchandise, and are heavy spenders in fashion, lifestyle products, entertainment, and nightlife. This valuable demographic can help brands both invent and re-invent themselves.

Elevate Lifestyle targets the upwardly social, active, and affluent professionals who possess the means for comfort and luxury. Elevate Lifestyle readers are trendsetters between the ages of 25 and 44, who stay on top of the latest information on culture, dining, entertainment, fashion, fitness, lifestyle, and nightlife. They attend the city’s hottest social and sporting events. Elevate Lifestyle readers are the ones to impress.

Some features of Elevate Lifestyle include the “Best of the City” winners, the Top 30 Under 30 Future Leaders of Charlotte, and city guides that dissect areas of Charlotte.

Visit their website at https://elevatelifestyle.com/ to see all Charlotte has to offer and to inquire about possible advertisement, events, and sponsorships.

WIMS Client Spotlight: Stephanie Higgins Fit

Stephanie Higgins Fit provides professional, certified fitness and nutrition programs designed to help you reach and maintain your health and fitness goals. There is no one size fits all dietary approach. That’s why she is here to give you the plan that’s meant for you. She will help you set your goals up for success!

Stephanie Higgins Fit has customized plans for all women and even has specific plans designed for pregnant women ranging from the prenatal to postpartum stages. She offers Premier, Platinum, Prenatal, and Postpartum plans that are sure to get you on the right track physically and mentally. She is based out of South Carolina but has the ability to work with you virtually no matter where you are located!

Check out her website at https://www.stephaniehigginsfit.com/ to see how you can get on track to becoming your best self.

WIMS Client Spotlight: Greater Charlotte Hospitality and Tourism Alliance

The Greater Charlotte Hospitality & Tourism Alliance (HTA) has been the premier voice of our region’s hospitality & tourism industry since it was established by the leaders of the industry in 1994. Over the years, the HTA’s leadership has been vital in efforts that have made our region a premier destination.

They are proud to have been a major part of developing the Charlotte Convention Center, Spectrum Arena, the NASCAR Hall of Fame, $200 million Arts & Cultural Complex, the Carolinas Aviation Museum, the Charlotte Knights Baseball Stadium, the development of the $42M Matthews Regional Sportsplex, the renovation of Mecklenburg County’s Aquatic Center, the Carolina Panthers’ (Bank of America) stadium upgrade, the planned $35 million renovation of Memorial Stadium and many other initiatives which have made the Charlotte region a great travel, event, and convention destination.

Looking ahead, the HTA will be assisting with bringing the 2022 NFL Draft, 2023 ACC Basketball Tournament, 2024 Democratic National Convention, 2024-2030 CIAA Tournament, 2025 PGA Championship, and 2026 Super Bowl to Charlotte.

The top priorities of the HTA are to help members grow their business, encourage tourism and economic development projects, and support community and region-wide initiatives. With the goal of creating the best informational and networking events in the Charlotte area, HTA’s relationship building meetings and events have annually included:

  • Quarterly General Meetings
  • HTA’s Annual Dinner & Gala Event
  • HTA’s Annual Business Showcase
  • Annual Candidate’s Reception
  • Spring, Summer, and Autumn Golf Tournaments

The HTA is proud to have served a large variety of businesses in the Charlotte area for more than two decades, proud of their vast accomplishments, and honored to have the most active members as indicated by their remarkably well attended and successful events. Their members’ active involvement is a reward for the work done on their behalf and a testament to the value of an HTA membership.

If you are interested in joining a business development organization whose mission is to “help its members grow their business,” check out their newly designed website by visiting www.charlottehta.com or call the HTA office directly at (704) 331-0079.

WIMS Client Spotlight: TRUROOF

At TRUROOF, they are trusted because they work in responsible ways to fulfill what they understand to be each customer’s desire for their home or business. TRUSTED, RESPONSIBLE AND UNDERSTANDING are more than words, they are standards that TRUROOF demonstrates every day.

  • They are trusted because they provide the professional, visual, and technical evidence necessary for you to understand your roof’s condition and the process that makes it possible to obtain a new roof through the insurance restoration process.
  • They are responsible for your entire roof replacement from start to finish. Their team of professionals shoulders the burden of identifying your roof’s condition, working with your insurance company to get you the roof you deserve, installing your new roof and providing the warranty that will protect you for years to come.
  • They understand what you want because they listen. This is not a simple transaction. It is a relationship that gives them the opportunity to serve you with their professional 5-star service to provide value and protection for your home or business.

They begin with the initial 100% complimentary no obligation roof inspection and property damage assessment, bringing your roof down to you with inspection photos and video, filing the claim together, meeting with insurance adjuster to ensure you receive everything you deserve, shouldering the burden and taking full responsibility for the insurance claims process, reviewing and choosing your specific roofing products and color, and fulfilling the most important stage of the process…the installation of your new roof.

They do not believe in pressure or sales tactics. They practice what they communicate…the details matter. Being proactive to protect your investment with a 100% no obligation roof inspection allows them the opportunity to serve you and your family with the details that matter for you.

To set up a roof inspection or property damage assessment, visit their website at https://www.truroof.com/ or give them a call at +1 803.TRU.ROOF.

WIMS Client Spotlight: Let It Ride

Let It Ride is a new DFS (Daily Fantasy Sports) app and website launching soon that was created behind the efforts of former Panthers receiver and North Carolina native Brenton Bersin. It is soon to hit the app store.

Let It Ride is an easy to use sports gaming platform for everyone. The platform focuses on the most exciting sports games: including player prop parlays, along with other picking pool competitions. With a competitive spirit, gamers can compete against the house or other users.

Their main game is Let It Ride, where users (you) pick from multiple player prop over/unders in an effort to get 3 correct, 5 correct, or 7 correct. If you choose any incorrectly, you lose your wager. If you get them all correct, you win. If you correctly pick 3, you have the option to cash out and end your ride, or let it ride in an effort to get 2 more correct to get to a parlay of 5. You then have the option again to cash out and end your ride at 5, or try and get to 7 correct. The longer the ride, the higher the payout.

Other games include:

  • DA$H is LIR’s spin on a lottery type game. DA$H is a pool type game where the the 1st user to get 20 picks in a row correct without getting one wrong, wins the jackpot.
  • OUTLA$T is our spin on a survivor pool. Located within the LIR app. Users will join pools of all different sizes and parameters. Competing head-to-head against other users. Each pool  offers different styles and reward.
  • PUR$E is LIR’s golf focused game. Choose by pool size or entry fee amount. In all pools, the user picks 10 golfers to make their lineup. Unlike other DFS apps, there is no salary cap, so the user can choose whoever they want. If they want the 10 best golfers in the tournament by World Ranking, they can pick them. This makes this game easy for all people to play.

Visit their website https://www.letitride.app/ to subscribe to to the wait list to receive early offers and follow the journey from the ground up. They are also launching a funding round shortly to continue growing and scaling, more details to come, send an email here if you’re interested in learning more about it, or you can visit this link as well.

They are also seeking early adopters to act as affiliates who will receive commission and other income opportunities. If you are interested in applying, click here.

WIMS Client Spotlight: The Christmas Team

The Christmas Team and their decorating elves are a commercial and residential Christmas light installation company. Voted “The Charlotte’s Premier Holiday Light Installation Company” by The Charlotte Business Group.

They pride themselves on impeccable customer service, custom-tailored design suited perfectly for your building, and their decorating elves. They do not only provide a luxury festive service; they create a Disney-like experience that your family and community will absolutely love!

Their offerings include lighting for commercial properties, residential properties, Christmas light shows, weddings, and event lighting.

Their all-inclusive service provides:

  • Lights – LED, Energy-Efficient, 5x Brighter than retail, Commercial grade lights.
  • Design Consultations – Custom Suited for your home or building.
  • Installation – Goodbye to long hours of unboxing, detangling, or setting up.
  • Removal – Bringing down and putting away will be a thing of the past.
  • Service-Calls – Keep your building fully lit all season long.
  • Storage Year-Round – No heavy lifting, untangling, or finding places to store.
  • Real Elves – Only company in the world that provides uniformed decorating elves.

They take the risk and hassle out of decorating for the season so you don’t have to worry about a thing during the hustle and bustle of the holidays! Visit their website http://thechristmasteam.com/ to check prices and book now!

The Christmas Team was started by Tim Guercio, who was named one of Charlotte’s “Top 30 Under 30 Future Leaders of Charlotte” by Elevate Lifestyle. He also is the CEO of Turf Pros Solutions Charlotte and Leads Digital Marketing.

Q4 2020 WIMS Consulting

Q4 2020: FINISH LIKE A SAVAGE & PREPARE FOR 2021 DOMINATION!

There’s something about Q4 that is always exhilarating to me. Knowing that “the game” is coming to an end, each and every play is more significant, there’s less margin for error. Perform well during this time and you can make up for a lot of previous mistakes and setbacks along the way. Let up or fumble the ball, and you can destroy all the momentum you made thus far. No pressure, right?

All of this is going on while simultaneously a new game is going to begin soon thereafter. Endings are always thrilling, but so are new beginnings after all. The new year coming up is especially enticing given the chaos of the current one. Whether it was a rough year, or an incredible one, you have to just keep looking forward and continue to get better.

Despite the hectic grind I’ve been on lately (pretty perpetual at this point), I wanted to take a little time to revisit and write up a quick/updated “Q4 Manifesto” which is mostly for myself, but then I decided to add a few extra tips for you too, primarily applicable to both your business and professional life.

  • Don’t wait for January 1st to start your New Year’s Resolutions, now’s as good a time as any. It’s a misguided practice that usually doesn’t end well anyway. You don’t need an arbitrary start date to work on self-improvement, that should be a daily practice as it is. Why not start right now?
  • Get AGGRESSIVE – Close out ALL of those pending dream deals that have been lingering. Do much more outreach and lead generation. Don’t dwell on whether you’re annoying people or assume that they already have an expert helping them that does what you do. Push harder!
  • Think about and plan out ways you can continue to streamline your business & professional operations. This can include CRM, automations, revisiting your tech stack, delegating more tasks, etc.
  • Try not to eat and drink everything in sight just because it’s the holidays. Maintain (or in some cases start) your workout routine consistently and only indulge occasionally. It’s especially tough given all the parties and networking events, but some balance now will spare you later.
  • Enjoy time with my family and friends and BE PRESENT. Don’t spend that precious time distracted with your head in the clouds and worrying about things that are out of your control.
  • Debrief/Reflect on the past year. What worked, what didn’t, what do you need to improve upon? Lay it all out objectively and identify opportunities to get better. While this may seem obvious, it’s crucial.
  • Strategize for 2021 (and beyond) now. Spend an appropriate amount of time writing out specific goals, sketching out project plans, and dreaming big. From there be mindful, thoughtful, deliberate, and thorough enough to also make your plan realistic while still stretching yourself. Once this exercise is completed, start working on implementing that strategy ASAP to carry some momentum with you.
  • Add appointments to your 2021 calendar (monthly/quarterly, etc.) now to make sure you schedule the time to reflect on your progress and measure where you’re at along the way to ensure you continuously improve.

A few specifically for you:

  • Get and implement a CRM already! Seriously, how many times do I have to say it? If you need to spend some time asking a few questions on how to get started, reach out to me, that part is, and always will be, on the house.
  • Start a blog, a podcastvideo/webinar series, whatever. Leverage content marketing to develop and enhance your brand and get your business’ name out there.
  • Finally start that business you’ve been day dreaming about for years now.
  • Or at least start working on that side hustle you’ve been planning.
  • Identify an organization you’re interested in and get involved in the community. This could be philanthropic or civic, doesn’t matter as much as simply taking action and giving back.

There are plenty of others I’m forgetting. And I will likely revisit this some more over the next few months to continue tweaking it.

What are some of your Q4 goals? What about your 2021 goals? How can we help you achieve them? Please let me know, would love to hear from you!

5 Ways Family Offices Can Optimize for the Present & Future

Over the past 50 years, the amount of family offices has grown to an estimated 3,500-5,000 as ultra-high-net-worth (UHNW) investors have increasingly used this approach to leverage and manage their wealth. Whether it be through Single-Family Offices (SFO’s), Multi-Family Offices (MFO’s), or a combination of both through syndication, wealthy families have seen the advantages of customized structures that meet specific needs and go much more in-depth than just financial investments.

With family offices varying in size, scope, purpose, and operation, it’s impossible to define the specific actions family offices should take, but it is possible to highlight key themes and challenges that most family offices face and offer advice on how to deal with common situations that arise. The increased level of sophistication for these investors has created a need for constant communication and transparency to ensure everyone involved in deals is on the same page and held accountable to achieve the desired results.

 

Vision – Clearly Communicate Goals to Foster Alignment

Family offices need to communicate their goals and alignment to all players involved, from their internal teams to management at their portfolio companies and everyone in between. With varying scopes of family offices, the common goals tend to surround income, total assets, and legacy. There is a varying degree to which these topics are discussed and articulated among family offices. Mapping out priorities that articulate the desired purpose and direction for the family’s wealth will encourage proper decision making and the right strategy. The proper structure of the family office can then ensure that governance framework, operating processes, teams, and advisors are set up in a way to support the family office’s purpose and values to achieve specific goals. Further, it will help identify the right KPIs/metrics to track and measure against as well.

 

Operations – Set up the Proper Delegation of Duties

Once everyone knows and embraces their role, family offices can then fill in the gaps where they need help, making the whole process much simpler and clearer. These gaps can be filled through streamlining operations via outsourcing. Outsourcing to specialized agencies not only provides expertise and more eyes on what matters, but it also allows family office executives to focus on the areas they’re passionate about.

 

Deal Flow – The More Opportunities That Come Your Way the Better (if it is manageable)

The best deals typically come through referrals, but there are also plenty of solid opportunities that come in via cold calls, emails, pitch events, or online databases stacked with potential investments. No matter the source, access to these deals is paramount to succeeding in the private investing world. A few sources we have found useful are AngelList, PitchBook, LinkedIn, CrunchBase, etc.

In more of a nontraditional move, family offices can also find deals and collaborate through equity crowdfunding. A capital raise can start as Reg CF and later convert a round to Reg A. Start-ups are increasingly seeing the value in crowdfunding to raise initial capital as it helps to validate their business model and market fit. With less regulation than private equity, investors can also benefit from getting involved and take more ownership of great ideas at an early stage.

 

Syndicate Investments to Reduce Risk, Increase Upside, and Achieve Economies of Scale

Most family offices already co-invest through syndication with other family offices. Yet this only increases the need for transparency from all firms involved: the family offices, their teams, portfolio companies, and any outsourced agencies that are involved in establishing a smoother operation. Syndicating deals allows you to reduce the downside by committing less capital, it increases the amount of relationships/resources that the target company can leverage, and it also enables each family office/fund to be able to split expenses when appropriate.

Finding and deploying the right consulting firm is a key example of this, due to the essential need for trust and objective parties when dealing with a large amount of wealth from a small number of sources. If family offices do choose to outsource certain operational functions (like marketing, sales, finance, etc.), a firm that provides constant communication and quick action to resolve issues is necessary. With the right external agency, family offices can concentrate on the roles that align with their purpose and passion with respect to running a successful operation. Not to mention, they save even more capital by not having to hire full-time positions to do what these outsourced specialists have been doing well for years.

 

Succession Planning – Always Keep an Eye on the Future

Succession is one event that family offices must have even though it can be uncomfortable. Having a contingency plan in place allows for smooth transitions and operational stability across the board when the time comes. This could mean planning for the transition from one generation of principal(s) to the next, or from one family office executive to the next. CEO’s tend to be in their position for an average of approximately 5 years. For family offices, managing directors and executives tend to hold these offices for 10 years as they have established a rapport with the investor families. This means that much more of the operations are in the hands of the family office executives than in traditional businesses.

When succession occurs with these individuals, it can be tough for the family office to stay on course if objectives and procedures have not been communicated. Understanding the role of the family, the family office, the portfolio companies, and any external firms in the event of succession is key in mitigating risks and obstacles that can cause disruption. With less regulation and oversight regarding practices of family offices, a lot more is done on an informal basis, leading to the possibility of overlooking key operations. With a clear and defined plan, it provides an easier transition when any type of succession inevitably occurs.

 

Conclusion

As you look to scale your operations, investments, and grow, there are clearly a variety of routes to take. The key is determining the route that best fits your family office’s vision, the portfolio companies you want to invest in, and then ensuring that all parties involved, whether in-house or external, all understand and are committed to executing it.

Written By: Mike Simmons and Evan Shirreffs.

 

THE PRIMARY MISSION OF WIMS CONSULTING IS TO HELP YOUR FUND AND ITS PORTFOLIO COMPANIES GENERATE A HIGHER ROI NOT ONLY INTERNALLY, BUT ON BEHALF OF YOUR INVESTORS AS WELL. WE CAN ASSIST WITH SCALING YOUR INVESTMENTS TO HELP INCREASE VALUATIONS IN ADVANCE OF ADDITIONAL FUNDING ROUNDS, LIQUIDITY EVENTS, EXITS, OR IPOs. WE CAN PROVIDE A LOT OF DIFFERENT SERVICES, CREATE AND IMPLEMENT A ROBUST STRATEGY, AND EXECUTE EACH TACTIC, BUT EVERYTHING THAT WE DO TRULY BOILS DOWN TO THAT ONE SINGLE OBJECTIVE OF ADDING MORE VALUE TO YOUR FIRM.

3 Ways Restaurants and Breweries Can Boost Marketing During COVID-19

3 Ways Restaurants and Breweries Can Boost Marketing During COVID-19

The restaurant and brewery industries are ones that COVID-19 has hit hardest as customers have literally been ordered to stay away from these establishments for months now. However, this does not mean that it is impossible to find ways to profit. Here are 3 ways to boost your restaurant and brewery marketing during COVID-19.

Update Your Online Assets

Your customers still want to eat your food and by now, they are most likely tired of cooking from home. They’re wondering whether you’re open and how they might benefit from one of your meals. Let your audience know how they can order from you by updating the following assets:

  • Website
  • Social media platforms
  • Google My Business

We have seen various methods of still serving customers, including curbside pickup, carryout, and home delivery. Update your website so it’s immediately clear that you’re open and offering one of these solutions. Provide your new hours and any specials that may be offered to help families in need during the pandemic.

Social media accounts can help highlight any new specials that you may be offering. Provide encouraging stories that point followers to the easiest way to get your food. In the “About” tab, make sure to reflect these added specials, new hours, and delivery methods.

Update these same changes on your Google My Business page so anyone looking you up online or in Google Maps discovers your new ways of doing business.

Be Empathetic About COVID-19

You know where every single one of your customers is right now. You know what each person is thinking because you are going through the same thing. You understand their fears and concerns about the future. Provide them empathy and comfort by personifying your business as much more than a business, but as people too. Marketing is not simply advertising; it is sharing your story with customers about why you are a business they should align themselves with.

You may fear that you’re taking advantage of a negative situation, but if you show value, customers will come. If you do it correctly, then you can become a shining light of hope for you customers.

Help customers understand that it’s acceptable to celebrate even during a pandemic. They simply should do so safely by social distancing. Help them understand that you’re here to provide comfort food and celebratory food to brighten their day a bit.

Offer Something Other Than Food & Beverages

We already know that margins are small in the food and beverage, so focus efforts on developing other avenues for revenue. Get creative and ask yourself what else you can offer. For example, how can you use gift cards or merchandise to increase overall profit during COVID-19?

Offer incentives for customers to purchase gift cards to give away to friends and family. It helps increase your revenue immediately and gets more awareness into the community that you’re open for business. In addition to giftcards, you can sell merchandise via an online store on your website.

There’s no need to see your restaurant or brewery suffer during COVID-19 if you get creative and proactive about your marketing. Don’t go on the defensive. Get on offense and become an inspiration for your local community.