November 24, 2023 • 33 mins
Ready to transform your business into a funding magnet? George Mayfield, a seasoned growth strategist consultant from Texas, joins us to share his wealth of expertise on creating fundability. Through his company, Frameworks Consortium, he assists businesses in identifying operational gaps, crafting strategies to fill them, and presenting themselves in an appealing light to potential lenders. He even shares an inspiring success story of how a client skyrocketed their fundability with the help of his team's guidance in implementing systems and processes.
Don't worry. This is not all about operational strategies; we delve into the realm of financial education and the importance of tracking Key Performance Indicators (KPIs). George highlights why having a bookkeeper who looks at your business from more than just a tax-centric perspective is a game-changer. He clarifies the difference between a CPA and a specialist, shedding light on the key measurements to monitor in your business and how his company can aid in securing funding.
But this isn't where we wrap up our enlightening conversation. George underlines the power of expert guidance in achieving business success. He outlines the aspects of a business that need attention and how a consultant can help pinpoint areas that can benefit from automation and other technologies. Lastly, George recommends his book, "Frameworks for Business Success," as a resource that business owners can use to fuel their understanding and development. Join us in this engaging discussion to unlock insights that can catapult your business to a new level of success and fundability.
A loan brokerage firm that acquires funding for business owners and real estate investors.
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.
If you need assistance in obtaining funding, email us at podcast@tdjequityfundinginsiders.net. Tell what the scope of funding is needed and the amount. A broker will contact you to discuss your funding needs. And remember, at TDJ Equity Funding, we do not force your funding needs into a lender's box but find a lender's box that fits you!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Intro (00:13):
Ready to get the inside scoop on equity funding?
Tune in to TDJ Equity FundingInsiders podcast for an in-depth
look at what it takes to accessfinancial capital and maximize
your investments, fromexperienced professionals,
including bankers, underwriters,loan officers and industry
(00:35):
experts, as they share theirunfiltered stories and valuable
lessons on securing funds.
Jacquelyn Jackson (00:47):
Hello everyone and thank you for
coming to our podcast.
This is TDJ Equity FundingPodcast Insiders podcast.
Sorry about that.
I am your host, jacquelineJackson, and today we're
actually going to have a reallygreat guest for you all to talk
to my guest host, so you all tolisten to.
He's bringing something that Ithink, as businesses, you need.
(01:10):
As some of you all are aware,the podcast that we have.
Because we're loan brokers, wesee some of the problems that a
lot of our businesses have whenthey come to us, some things
that we have to stop because wecan't help you because you don't
have certain things in place.
So what we're trying to do isnot only give you insights of
what you need to do for us getmoney, but we also want to help
(01:31):
you with your business so yourbusiness will be ready to
receive money.
So, with that said, I guessthat we have today is George
Mayfield, and he's actually astrategist growth consultant.
Okay, he's from Texas and sohe's coming to visit with us to
talk to how he can helpbusinesses.
So let's start out, let'swelcome him and for our show,
(01:52):
thank you for coming, george.
George Mayfield (01:54):
Thank you so much for having me.
This is great.
Jacquelyn Jackson (01:56):
I am excited we want to start off because,
like you know, you and I havetalked before about how
businesses are lacking theknowledge of what they need to
do to be successful, because alot of people, especially with
COVID, they started businessesand now, with a lot of strikes
and stuff going on, people arereally looking to start their
own business.
Yeah and one thing allbusinesses need is money.
But I think what people thinkthat getting money is a guessing
(02:19):
game.
And as a loan broker, we'rehere to tell you it's not a
guessing game either you'regonna get it or you're not,
based on how you look in thestory.
So, having you alone becausethey don't relate if they have a
growth strategist or somethingwhat you're gonna talk about
what we see is that it actuallyprepares them and make them more
fundable if they have that setup in their company.
(02:40):
So that's why it's important wewant you to come today so you
can talk to our listeners aboutwhat you do and how you help the
business qualify for loans.
George Mayfield (02:49):
Yeah, absolutely, and again thank you
for having me here and we've hadsome really good conversations
actually about that and just totalk to the listeners a little
bit more.
You know what we do is asFramers Consortium is.
We are a fractional C-suite ofadvisors that help the business
owner and help guide them anddirect them, and you know, the
(03:12):
first thing that we do when webring in a client is to look at
their company, where they'vebeen for the last you know three
years or so, where they are nowand where they want to go, and
a lot of times they can't reallyanswer those questions.
We kind of have to help themout, right, and that's fine.
But once we do that, we knowwhat they're, what the companies
are really good at and whatthey're not so good at, and then
we help them to fill in thosegaps, and so a lot of times what
(03:34):
happens is they need funding inorder to close in those gaps,
and so we try to help them tolook more attractive to banks
and different you know financialinstitutions.
You know whether they even begrants or whatever it is, so
that you know whoever they'reasking for money.
You can say you know, do youhave a plan for putting this
(03:56):
money in a place is actuallygoing to help your business grow
, and can we feel good aboutthat?
Is that going to make yourbusiness strong enough where you
can actually pay us back, youknow?
So it's very important to beable to enunciate what you know
exactly what you need, why youneed it and what it's going to
do to affect your business okay,so, exactly so.
Jacquelyn Jackson (04:17):
Basically, what you're saying is that you
give them some type of guidancegetting toward the money, but
you also give them guidanceafter they receive the money.
Absolutely right, and that'ssomething I think.
Again, I don't thinkentrepreneurs know this type of
service is really out herebecause it's so confusing.
So let's be honest, we all needto.
We all realize there's a lot ofstuff we've been here with on a
(04:38):
day-to-day basis, all kind ofnew stuff that's coming out and
we like, oh, here we go again.
So what happens?
I think we miss as businessowners, we may miss some things
that are really good for us todo for our business, because we
don't know or we're busy.
So what we're seeing here, thisis nothing that's new what he
does, but I think it's new topeople understanding, and I like
(04:59):
the way George and his team hasput it together to simplify
that, basically, whatever youneed, starting out with your
company, and whether you've beenin it for 10 years, you've been
working it for years, they area resource to come to, to keep
paying you out where you couldbe lucrative and, at the same
time, you can receive money.
So, with that said, give us anexample of where having what you
(05:22):
do has helped a person toactually wind up results of
getting money by having yourtype of business attached to
them.
George Mayfield (05:30):
Yeah, so we've worked with clients before and
that needed to implement somesort of systems and processes
that come from an operationsbackground, and that's kind of
where we started.
The company was frameworkconsulting and we really just
focused on you know operations,and so in doing that, a lot of
times we would work with thosebusinesses and find out that
they have other providers, andso those businesses have reached
(05:52):
out to you know bookkeepers oryou know HR people or whoever it
is, and we never really meetthose people and then.
So what we saw was that therewas a gap in that in ourselves.
So what we're able to do now isbring all of those companies in
together for that businessowner, and that really helps
them to stay more organized.
It helps them to understandwhat's going on in their company
(06:15):
.
It helps us to fully help them.
So imagine, you know, if you goto a doctor and you might have
some specialists, if you onlyever saw those specialists and
those specialists didn't talk toeach other, you know you'd be
spending a lot of money and andeach one of those specialists
may be recommending somethingthat they may not recommend if
they knew what that other doctorwas recommending.
So what we are is more of that.
(06:35):
You know sort of that generaldoctor that it comes in and, you
know, gives you the referralsto go out to these specialists,
Exactly, Exactly, and it reallyjust helps them to stay on top
of everything and it helps us tohelp them, you know, march
towards their main goals.
Jacquelyn Jackson (06:53):
Right, and that is a wonderful, great
analogy to look at it as youguys being a PCP, because I
think what we do as businessowners is that we don't even
know a connection need to bemade.
You know, and I hadn't realizedthat, like I said, we I've been
talking to you alone, with someothers and we're finding out
that connection is reallyimportant because even in our
company we do that, because whenyou do not talk to each other,
(07:17):
that's hand on parts of thebusiness, then there's going to
be a non-cohesive nips that'snot going to be there.
Intro (07:24):
Yeah, period.
Jacquelyn Jackson (07:25):
And we just think in business, we don't have
to do that Now.
This is what I want to say, andI know you probably agree with
it the way we did business 20 or10 years ago is not the way
it's being done today.
George Mayfield (07:33):
Yeah.
Jacquelyn Jackson (07:34):
So, when it comes to the technology and for,
as you, keeping the businesseswhere they can be a part of that
and still grow, how do you guyshelp them to navigate from
where they used to be to whatthey do now?
How do you do that?
George Mayfield (07:46):
Yeah, so getting them from what they used
to do to where they do now, youknow that's what our C-suite is
there for, right.
So we're all experts in our owndiscipline.
So our C-H-R-O, for instance,she is up on all of the HR laws,
like there's new laws, you know, because of COVID, all kinds of
laws you know that arehappening every year and you
(08:07):
know she's going to stay on topof that because that's what she
does, that's her expertise youknow, and as an operations
person, you know I knew when Iwas helping people before we
created Frameworks Consortium,you know I knew we needed job
descriptions right and I can sayyou know, we need a job
description in place.
It needs to look like thathere's some free templates from
the internet, but that C-H-R-Ois really going to know a lot of
(08:27):
what that company needs intheir place to make sure that
they have the right team.
Same could be said for theC-I-O.
They know what sort oftechnologies, what mixture of
technologies, is going to helpthis company in the best way.
Now, when we all work togetheras a team, we can come up with a
really good winning plan forthat company.
Now, a lot of times wheneverpeople are not talking so you
mentioned that we talked alittle bit about that before I
(08:50):
was actually talking to one ofmy client's bookkeepers for the
very first time the other dayand as an operations consultant,
we were helping them toimplement a system in their
company that talked to theirQuickBooks and would be able to
pull inventory items forprojects into this system so
they could see how much they'respending on equipment and labor
(09:13):
and all of these things, and wefinally had a we're able to have
a meeting with their bookkeeperand we found out that their
bookkeeper has already beentrying to clean up their chart
of accounts for the last year.
But their bookkeeper is comingat it purely from a tax oriented
perspective.
They want to get that chart ofaccounts set up so that whenever
they file taxes they make iteasy for them and makes it look
(09:37):
more attractive to thegovernment and I'm sure it makes
it more attractive to banks aswell.
But what's more attractive tobanks is to look at that
operational chart of accountsand to see sure you may be
filing your taxes this way andit helps you to get the best tax
rates.
But if you are able to look atyour books and see how you're
(09:57):
doing operationally, andespecially if you're doing well,
you're going to be a lot moreattractive to somebody that's
trying to lend you money.
Jacquelyn Jackson (10:05):
And that's true, because, as a loan broker,
that's what we look at.
We look at the financials andwe have to tell people.
Many times what you turn in fortaxes may be different, a
different view of what a lenderis going to look for.
And the only way you're goingto know that, if you bring
people in, they can guide you,and it's not.
You bring on a CPA and they'regoing to do everything that you
taught my doing.
So we definitely want you allto understand everything we're
(10:26):
talking about.
You need is not a CPA that cando all of that.
That's not what they do.
That's why it's important tomeet these guys.
Like I say, like your PCP, yourmain doctor you go to first and
then they'll get all thosespecialists and bring them into
you so you can make a tillageand choice of what you want to
do.
Now, I think that's what, likeI said, one thing I think that's
really good about with yourcompanies, because you look at
(10:48):
everything of going on with themand see that's what I don't
think a lot of our listeners andentrepreneurs know it's
available that they can come toyou and you could start that
plan for them so they don't haveto be out here by themselves.
Is that basically how you work?
So how does that relationshipgrow?
Or how is it with you and yourclients when it comes to helping
them do everything they need todo?
How does that work?
George Mayfield (11:10):
Yeah, so again, talking a lot about like a
doctor.
If you are just you and I, wemight go to the doctor once a
year, maybe even once just everycouple of years, and the first
thing we do when we go in andsee that doctor is they're going
to take our blood pressure,they're going to weigh us,
they're going to take a coupleof measurements on our body, but
(11:30):
we're not getting that doneevery day.
Right, we might be stepping ona scale ourselves, but maybe I
know I don't but if you're anathlete, if you're an athlete,
you've got that doctor coming toyou every single day.
They're taking your weight,they're looking at your muscle
mass, they're looking at all ofthese things.
Why do they do that?
It's because an athlete ismaking money with their body.
(11:53):
Right, it's very important tothem and it's very important to
whatever team that they'reworking for is that they are
able to perform in the best waythat they can, and your business
is an athlete.
You're there to perform, and soyou should be looking at these
measurements on a daily basis,on at least a monthly basis, and
what we do is we help them tomonitor those KPIs.
(12:14):
We're looking from all of thosedifferent perspectives, whether
we're looking at how satisfiedyour employees are, how often
they're dealing with IT issues,what your finances look like on
a monthly basis.
A lot of business ownersthey'll just look at their bank
account once a month, or maybeeven a daily.
You know like what is, what ismy revenue coming in, how much
money am I spending, and that'sthe only KPIs that they look at.
Jacquelyn Jackson (12:36):
Right.
George Mayfield (12:36):
And that's just not a good way to run a
business if you truly want toperform.
Jacquelyn Jackson (12:40):
Right and understand that KPIs are like
key performance indicators, andif we're mentioning anything to
you guys that you're notfamiliar with, that's indication
, you need to call.
You need to call them becausethese are things.
Whether you know it or not,they are needed in order you to
perform well in business andthat's what people have to
understand.
Whether you know what to do ornot, it's being done and it's
(13:03):
going to be judged whether youget a loan or not based on what
you've done.
So just because you don't knowthat I'm going to get a loan and
say, oh, you didn't know this,I'm going to get you a million
dollars.
That's not happening.
So it's best to get with someonelike George, his company, to
kind of guide you starting outon this, and you don't have to
know everything.
A lot of us in business wethink we have to know a certain
amount of stuff before we cantalk to anybody.
(13:25):
And no, you don't, that's whatyou all afford.
You're more comfortable.
So, when it comes to gettingfunding, I mean specifically,
how would having you on boardhelp them to get that funding
Exactly?
George Mayfield (13:37):
Well, you know, that's actually happened in
several cases with our clients,because a lot of times, like the
business owner doesn't evenknow how to talk to their banker
, they don't really know how totalk about.
You know what systems thatthey're putting in place.
You know, I'm putting in an ERP.
I don't even know what that is,you know, but we're able to
come in and say you know whatwe're going to do is we're going
(13:58):
to put in this system and it'sgoing to be able to help us to
understand what their inventorylooks like.
It's going to help us tounderstand, you know, what their
movement looks like.
It's going to be able to helpthe company make better
decisions on what they need tobuy from manufacturers because
they know they're going to sellit.
It helps them to identifytrends and things like that.
So we can help the banks, youknow, and the businesses by, you
(14:19):
know, just talking and walkingthem through what they need that
money for and how we expect thebanks are going to get their,
you know they ask thosequestions what are you using the
money for?
Absolutely Well a bank is abusiness, you know.
They're not just there to say,hey, I got money.
Just, you know, I just gotextra money, I'm going to give
out.
Right, they're a business,right, and, as you imagine, if
you're, you know, if you have ason or a daughter or even just
(14:41):
an employee that says, hey, youknow, I want, I want $100 to
invest in myself, you're goingto say, well, what are you going
to do with this $100?
Right, and they better have agood answer, or you're not going
to do it.
Jacquelyn Jackson (14:52):
Right, and that's how it is with the banks.
I think people don't think likeI have to tell folks.
The banks, the lenders, ask youquestions.
They pretty much already gotthe answers to.
They just want to see whatyou're going to say and how much
you know.
So when I said you didn't haveto know anything to reach out to
George, you don't, because he'sgoing to help you, he's going
to educate you.
But when you do it alone and gointo a bank or to a lender,
(15:12):
then you're going to have toknow your KPIs.
Okay, you're going to have toknow those numbers.
Now they may ask it in a waythat may not say KPI, but if
they say, well, let me see yourprofit and loss statement and
they go and look at youroperational expenses and what
you do it and how it's your net,they're figuring out already
what you look like.
So that's what I'm saying.
So it's important for you toknow what the banks know in
(15:34):
order for you to get the loan.
And that's where you guys comein, because you're educating
them on everything they need toknow in order to get the loan
what they need to look like andwhat you need to look like after
you get the loan, how you'regoing to pay the loan.
A lot of people will call us andyou know, the first day they
say I said well, how much moneyare you trying to get as much as
I can get?
Oh, that's not the way thatgoes, because what we have to do
(15:56):
is what you qualify for and Idon't think they realize.
That's why we said our teamsaid it was so important to get
you on our podcast becausepeople need to understand.
They need you in order to getthis money, to understand it and
get more.
Now you may get hold on.
Let me say this Some people get$20,000, $30,000.
But when you bring in I cally'all key performance guys you
(16:19):
bring in a growth consultant guythat works with you on your key
and growing your company, youcan get not only more money, but
you can get more money overtime as much as you need it,
because your business is goingto sustain it and show it Right.
So, that's what I think is agood point.
So what would be some, I guess,what would be one of your most
(16:40):
advice that you can givebusiness owners today when it
comes to funding?
George Mayfield (16:44):
And you know we've kind of already touched on
this, but the most importantadvice that I would give to any
business owner is that you arenot alone.
There are people like myselfthat are out there to help you,
and within my organization,we're always bringing in vetted
service providers that do thework.
You know, we're working withbookkeepers, we're working with
(17:05):
lawyers and just any servicethat a business might need.
And then not only are we just,you know, referring you to
somebody that we like you knowthat we like to have a beer with
you know this is, we'rereferring people in that their
mission and culture, theirvalues match our clients.
So there's many, many differentways to provide bookkeeping
(17:26):
services, for instance, but youknow, we match the ones that
match our clients the best sothat they hit the ground running
.
They speak the same language,they know what's going on, they
come in there and they yep weknow what's going on here, We've
seen this before and let's hitthe ground running.
And then we all work togetheras a team.
So the biggest, biggest advice Ican say is you know, don't have
(17:46):
the ego to think that you haveto do this all alone.
Just put yourself in a roomwith other people that have
better skills you, as a businessowner, are really good at
whatever it is you started yourbusiness to do Right, and you
know it's probably unlikely thatyou started a business that
helps other businesses, Right,so you know, and if it is, eat
(18:08):
your own dog food, right, Right.
Jacquelyn Jackson (18:10):
Right, that's a good way to look at that.
So we're basically what you'rebasically saying is just to get
help.
Don't sit there and don't getit, and I and I know what you're
saying when you talk about,like, people with different
needs, that they need and youall can give it to, which is a
custom.
I consider custom because, likeyou may have a client that have
and you correct me from wronglike they, they may have
(18:31):
technology issues.
In other words, they're doing alot of stuff that's manual, that
could be automated or how theygot it now with stuff is, I
guess, with rapid they'reconnecting with automation and
all that stuff, but I know youall bring that to companies
where it benefits and is moreprofitable for them to have.
So I guess what I'm saying toois you know, my takeaway that I
(18:51):
get from it that I think isimportant for them to know is
that you need to understand yourbusiness, and if you don't
understand your business, youneed to go and learn your
business.
And that's what you guys do,cause you work with those
different elements already.
You just partner them up withthe clients that need certain
things before them.
George Mayfield (19:12):
Right.
Jacquelyn Jackson (19:12):
So basically you're just a counselor that can
come talk to you and work thisthing out on everything their
business, on growing andeverything and in turn that
works for us because we're ableto give you money if you show
that you are set up like that.
Intro (19:25):
You know.
Jacquelyn Jackson (19:25):
So that's what's important, and remember
you all, we're all talking.
We're talking today mainly ofwhat you need to do with your
business in order for you to befundable.
You don't have to guess at itand pray for it, throw it on the
wall and hope something.
Stick with this application.
You don't have to do any ofthat.
All you have to do is get withsomeone that can help you set
(19:46):
your business up, or look atyour business and see what you
need and what you don't need.
Am I correct?
And that's how you all do?
Absolutely.
So how do they?
Any recommendations as far asfor our listeners for more
information about your industryand about you guys?
Like I said, definitely want totalk about your book.
George Mayfield (20:01):
It's what you want.
Jacquelyn Jackson (20:02):
So if you would give us some enlightening
on that a little bit, yeah.
George Mayfield (20:05):
So I wrote this .
Frameworks for business success.
This book is, you know, took meabout a year and a half to
write, but it was.
It was kind of a labor of love,because I really want to get
this message out to businessowners.
And you don't have to call me Idon't know how many consultants
was coming here and say thatyou don't have to call me, get
this book and just read it.
(20:26):
You could do it yourself, butyou're going to need help,
because that's what this is allabout is that you cannot do this
alone.
And even if you are a really,really good, you know I keep
using bookkeepers.
I like bookkeepers.
But you know, let's say you area really good bookkeeper and
you started a pool cleaningbusiness and you want to keep
doing your books.
So that's fine, that's fine.
But you know, like we talkedabout before, doing your taxes
(20:47):
is different than you knowfilling out paperwork for a bank
or being able to explain orlook at KPIs to your bank.
And if you are a really goodbookkeeper, are you also really
good with your IT?
Are you also good at makingsure that your emails that
you're sending out to potentialclients are making it to your
potential clients because youhave your email set up.
You know just all of thesedifferent things Are you good at
?
You know training up employeesright.
(21:08):
You can't be good at everythingright, so you just can't do it
alone.
And this book has, you know,several chapters in it,
basically on all the things thatI thought were the big
frameworks that a business needsto operate, and these are a lot
of things that you know.
Most business owners don't havean MBA.
You know a lot of businessowners haven't even worked for a
corporation or, if they have,they haven't seen.
(21:29):
You know all the differentdepartments and how it works,
and so I do have that backgroundand you know I come from a
background.
Also, you know, I grew up in asmall town, working, working
with you know entrepreneurs thatwere, you know, welders.
I had a cousin that cut horses,which doesn't mean what you
think it does.
Jacquelyn Jackson (21:47):
What does that mean?
We need to explain that.
George Mayfield (21:49):
Yeah, that's, it's like racing horses Okay,
like Texas racing, because.
Jacquelyn Jackson (21:53):
I like horses .
George Mayfield (21:56):
Yeah, so I've worked for small businesses
before.
I've, you know, was in themilitary, I saw how big
operations work.
And then went to college, gotmy MBA, learned, you know, from
books, from people like MichaelPorter and you know just all of
those, you know frameworks thatthey teach you and the MBA.
And then I started working forcorporations.
And then back to small businessagain, because that's really,
really where my heart is.
(22:16):
And then, when I startedconsulting with them, I thought
you know these, these businessowners have you know what I love
about small businesses?
It is the backbone of oureconomy.
It is, you know, and Ipredicted last, you know, about
two years ago, whenever COVIDwas was hitting.
My prediction was that thereare going to be a lot more
(22:37):
smaller business and smallbusinesses going to play even
more of a role in our economy,as corporations are no longer
relying on full time employees,full time departments.
They're starting to let go ofthese employees, let go of these
departments, outsource this,outsource that, and so who's
outsource?
Who are they outsourcing to?
Intro (22:56):
They're outsourcing to small business right.
George Mayfield (22:58):
And so if, if you're a small business and
you're a, you're an IT companyand and you're just working for
the mom and pop little shops andthat's fine, but you know these
corporations are looking tohire you Exactly you know.
And how can you scale from fromworking with residential to the
mom and pops, from scaling fromthe mom and pops to being able
to work with a corporation?
(23:20):
You're going to have to showthe corporation to how you're
operating and how you'reimproving and how you're going.
You know what your plans are toimprove your company so that
you can serve them better.
They're going to be looking atyour company just like they were
looking at their employeesseveral years ago.
Jacquelyn Jackson (23:34):
And a lot of that comes in a form of a RFP.
Now what RFP is basically aproposal for this?
If you have ever went, pleasejust go look on up.
Do one for the airport, anybody.
The RFP is so darn thick andtechnical.
If that don't tell you, youdon't know what you're doing.
Just read it.
It will tell you that.
But I'm just saying no, I'mjust playing.
(23:54):
So what I'm seeing is that youcan help them to prepare where
they can look good forcorporation because they are
beginning business off our helps.
And you're right.
A lot of more people are a lotof more people are getting into
the entrepreneurship andeverything right now, but with
their own.
Understand the technology andwhat's happening now.
In order for you to stay inbusiness and to be successful,
(24:17):
you're going to have to wind upa face in all this for your
prank work.
Whether they come to you or not, it's out there and you need to
.
We're giving you a resource tocome to where you can start to
help and we're talking about ifthey start off as a small
business.
You can still work with themand you're going to help them to
grow as they grow.
So he's not looking at youcoming with all these people.
(24:37):
Just come yourself and make thephone call, Email us.
You can definitely know that.
You know our email istdjequifundinginsiderspodcastnet
.
You can send us an email andreach out to us and we'll
definitely get you with Georgeso you all can kind of get with
them, because these are thingsthat you need if you come into
us for money.
Now let me say, if take a minuteto say on our side, when people
(25:00):
come to us, they have broughtus financials that are not
correct and when I talk to themabout it, they don't even know
how to correct.
So it gets to go back to theCPA, which we'll wind up
eventually getting some correctones.
But this is what I tell them.
I'm going to tell my owners youmust know your own numbers.
Okay, cpa is just there toprepare your Texas before it's
(25:24):
your strategy, how you're goingto save and what you're going to
do.
That's a different way to lookat that.
Okay, and this is where theycome in with and what I think I
love about their group that theyhave George has, where you're
not going to be paying extra forthe same thing or paying double
.
That's what I'm saying yes,because sometimes we're at
business on.
We're paying for stuff, that wealready paying for stuff.
(25:46):
Yes.
So he comes in and kind of helpyou and give you a guy and it's
any size business, am I correct?
Just get the phone call, justcall him, you know, so he can
kind of start helping you there.
And it helps us as loan brokersand all of us appreciate him
because he gets you togetherwhere we can go and get you
approved faster.
So that's why it's important wewant to bring him onto the show
(26:09):
to let you know this serviceand this entity is available and
it's out here You're not byyourself and that you can just
contact us or contact George.
Like I said, we have thisinformation as well for you guys
, so you all can kind of be incontact with him.
So to round up what we're doingtoday, is it any final words
you think that you would likethe listeners to know?
George Mayfield (26:30):
Well, you know, like you mentioned, like I,
have a heart for, for everybody,even if you're a solo, if
you're a stay at home mom andyou're a photographer, like
you're running a business juston the side.
Well, even if we're thinkingabout doing the business,
thinking about it, you know goto my website,
frameworksconsortiumcom, scrollall the way down to the bottom
and you'll see some tools.
(26:51):
So we've got different thingsthere.
If you're in Dallas, we'd loveto connect you with some
networking events.
I have a lot of different toolsthat I use, you know, for for
company promotion or to run yourbusiness.
Like.
These are the tools that welike to use, so we like to give
that information out to people.
So, even if you know we're nota good fit to come and work with
you, we do still like to, youknow, give you a resource and be
(27:14):
a resource, yeah.
Jacquelyn Jackson (27:16):
Okay, okay, good, all right.
So you're saying, no matterwhat, just give you a call just
to talk.
I mean, if you can help them,you help them.
If you can't hear directlywhere you can, and I like that.
I like that Georgia direct youwhere you can get help, instead
of oh, I can't help you and hangup.
I love that part about youbecause you do, you are
connected and you have a lot ofpartners that work within your
suite, but you also help peoplethat you can help by giving them
(27:39):
just information as well.
George Mayfield (27:40):
Absolutely.
Jacquelyn Jackson (27:40):
So see.
So you guys, we have no reasonfor us not to make the call.
We should make the call and wedefinitely want you to do that.
We do understand again.
What we brought into you allguys today was bringing in, uh,
Mr George to come in and talk toyou about getting that
appointment with him.
Hopefully it's not with him,with someone like him.
Okay, that can help you withyour business.
(28:01):
I just don't want you all tothink that you can continue to
do business off your hill.
You really need to getprofessional help, especially
when you start talking about themoney and stuff.
So we're looking at, like Isaid, the loans that we've done.
I mean people went from 300,000to 1.7 million, but people they
had their stuff together, youknow, and that's where that came
(28:21):
in.
A lot, A lot of them wasdealing with where they were
told they're going to get thismuch money and we show where
they can get more.
Because once they got withpeople like George, they were
able to add the value and helpthem get all their key
indicators in place that when wedid the financials and they did
all that, it looks so good thatthe lenders were like, yeah, we
can fund this one.
So that was a difference andthat's just my story of a
(28:43):
difference of not having yoursort to help with a client
compared to when they're bythemselves.
So it did make a differencebecause the client had some
indications that he'd alreadyworked with his consultant on
and had showed him the frameworkand that's why it was easy for
him to pull all this out of forhis hospital company.
That was awesome.
So that's why I know we areglad to have him on the show.
(29:06):
We want him on the show becausehe's bringing something that
business owners are notnaturally aware of, so we do
want to thank you for coming.
Thank you for having me here,hey anything else you think that
you would like to say to thelisteners.
I know you told them about yourwebsite and we're going to put
your website up right becauseyou gave us a website, so we'll
have that on where you guys canhave that as well.
(29:26):
And then the book.
We'll also put this they can goto your website and order the
book.
George Mayfield (29:31):
Yeah, my website.
It's on Amazon.
Barnes Noble, your localbookstore.
Let me support your localbusiness right.
So go to your local library andask them to stock it.
If you don't want to buy it, oh, you can do that.
Intro (29:43):
Oh right, you can do that yeah.
George Mayfield (29:45):
And I would recommend, even if you're going
to get a consultant that isn'tme, get this book, flip through
it, even if you're not going toread the whole thing.
I understand it's thick, right,I understand.
That's how much information Ifeel like business owners should
know.
But even just flip through it.
That way, if you do get anotherconsultant, you can say hey,
what about, what about thisRight?
And and you know, just to makesure that you can vet out your
(30:08):
own, your own help right, Causethere's a lot of people out
there that that are out.
You know, maybe they just boughtinto some franchise and they're
like you know they're going tocome in and coach you and
they're not really.
They don't really know reallywhat they're talking to.
Jacquelyn Jackson (30:21):
There's business in a box, just say it
yeah.
And they sell it to you.
George Mayfield (30:29):
That's what it is.
That's it, yeah, you know.
So just be careful.
I've seen business owners getinto that sort of thing and
they're and they're often somedirection that you know they're.
They're getting coached in somedirection because the person
who's telling them it hasn'tbeen where they are Exactly.
They haven't really looked attheir business.
They're trying to just sellthem this and they didn't dig
into your business.
You know, uh, you know, you,would, you?
You don't want to go to adoctor that doesn't check your
(30:52):
vitals, right, you know what?
Jacquelyn Jackson (30:52):
I mean.
So you basically said, likewell, this book, you got a
guideline.
That's what we're trying to say, absolutely Something to start
with, and I think that is great.
So it's fame rose, frameworksfor business success Okay, by
George Mayfield.
You wrote this book for real, Idid, okay.
He said for real, yeah, forreal, okay.
So I think you all need to goget the book.
It's a guideline of what'savailable for you as a business
(31:14):
period, and then they can alsoget in touch with you in here.
George Mayfield (31:17):
Yeah, I decided to want to get with you.
Yeah, my contact information ishere in the book as well.
Okay, great, oh, great, wellthat is great.
Jacquelyn Jackson (31:23):
Well, I can say I want to thank you again
for coming in.
I have enjoyed it.
I'm glad you came.
George Mayfield (31:26):
This has been a lot of fun.
Jacquelyn Jackson (31:27):
Thank you, and we would definitely want to
have you to come back, you know,in a year to go on.
The year to go back becausewe're going to actually make do
a little bit more with thegrowth strategy for businesses,
because we may have certainthings going on that we
definitely need you all to be apart of, and we're likely to be
there for a certain occasion.
George Mayfield (31:43):
Okay.
Jacquelyn Jackson (31:44):
Thank you so much again, and also we want to
thank you guys for tuning in tous today.
We also want to let you allknow that you can subscribe to
us on any of your favoritepodcast TDJ Equally Funding
Insiders.
Please subscribe so you can bein the know when we have some
new ones coming up and we aregoing to be talking about some
things that's really more intune of again continuing to more
(32:07):
of in tune of of you gettingfunding.
We're going to continue that.
Also, tune in to our YouTubechannel, which is TDJ equity
funding strategies, and that'son our YouTube, and definitely
go there, because we have a lotof videos and tapes that are
talking about this.
This one actually be there aswell, along with these, will
give you resources and toolsthat's located to help you
(32:29):
understand the funding world orhow to get money for your
business.
Again, I want to thank you guys.
Until next time you take care.
Ready to get the inside scoop on equity funding?
Tune in to TDJ Equity FundingInsiders podcast for an in-depth
look at what it takes to accessfinancial capital and maximize
your investments, fromexperienced professionals,
including bankers, underwriters,loan officers and industry
(00:35):
experts, as they share theirunfiltered stories and valuable
lessons on securing funds.
Jacquelyn Jackson (00:47):
Hello everyone and thank you for
coming to our podcast.
This is TDJ Equity FundingPodcast Insiders podcast.
Sorry about that.
I am your host, jacquelineJackson, and today we're
actually going to have a reallygreat guest for you all to talk
to my guest host, so you all tolisten to.
He's bringing something that Ithink, as businesses, you need.
(01:10):
As some of you all are aware,the podcast that we have.
Because we're loan brokers, wesee some of the problems that a
lot of our businesses have whenthey come to us, some things
that we have to stop because wecan't help you because you don't
have certain things in place.
So what we're trying to do isnot only give you insights of
what you need to do for us getmoney, but we also want to help
(01:31):
you with your business so yourbusiness will be ready to
receive money.
So, with that said, I guessthat we have today is George
Mayfield, and he's actually astrategist growth consultant.
Okay, he's from Texas and sohe's coming to visit with us to
talk to how he can helpbusinesses.
So let's start out, let'swelcome him and for our show,
(01:52):
thank you for coming, george.
George Mayfield (01:54):
Thank you so much for having me.
This is great.
Jacquelyn Jackson (01:56):
I am excited we want to start off because,
like you know, you and I havetalked before about how
businesses are lacking theknowledge of what they need to
do to be successful, because alot of people, especially with
COVID, they started businessesand now, with a lot of strikes
and stuff going on, people arereally looking to start their
own business.
Yeah and one thing allbusinesses need is money.
But I think what people thinkthat getting money is a guessing
(02:19):
game.
And as a loan broker, we'rehere to tell you it's not a
guessing game either you'regonna get it or you're not,
based on how you look in thestory.
So, having you alone becausethey don't relate if they have a
growth strategist or somethingwhat you're gonna talk about
what we see is that it actuallyprepares them and make them more
fundable if they have that setup in their company.
(02:40):
So that's why it's important wewant you to come today so you
can talk to our listeners aboutwhat you do and how you help the
business qualify for loans.
George Mayfield (02:49):
Yeah, absolutely, and again thank you
for having me here and we've hadsome really good conversations
actually about that and just totalk to the listeners a little
bit more.
You know what we do is asFramers Consortium is.
We are a fractional C-suite ofadvisors that help the business
owner and help guide them anddirect them, and you know, the
(03:12):
first thing that we do when webring in a client is to look at
their company, where they'vebeen for the last you know three
years or so, where they are nowand where they want to go, and
a lot of times they can't reallyanswer those questions.
We kind of have to help themout, right, and that's fine.
But once we do that, we knowwhat they're, what the companies
are really good at and whatthey're not so good at, and then
we help them to fill in thosegaps, and so a lot of times what
(03:34):
happens is they need funding inorder to close in those gaps,
and so we try to help them tolook more attractive to banks
and different you know financialinstitutions.
You know whether they even begrants or whatever it is, so
that you know whoever they'reasking for money.
You can say you know, do youhave a plan for putting this
(03:56):
money in a place is actuallygoing to help your business grow
, and can we feel good aboutthat?
Is that going to make yourbusiness strong enough where you
can actually pay us back, youknow?
So it's very important to beable to enunciate what you know
exactly what you need, why youneed it and what it's going to
do to affect your business okay,so, exactly so.
Jacquelyn Jackson (04:17):
Basically, what you're saying is that you
give them some type of guidancegetting toward the money, but
you also give them guidanceafter they receive the money.
Absolutely right, and that'ssomething I think.
Again, I don't thinkentrepreneurs know this type of
service is really out herebecause it's so confusing.
So let's be honest, we all needto.
We all realize there's a lot ofstuff we've been here with on a
(04:38):
day-to-day basis, all kind ofnew stuff that's coming out and
we like, oh, here we go again.
So what happens?
I think we miss as businessowners, we may miss some things
that are really good for us todo for our business, because we
don't know or we're busy.
So what we're seeing here, thisis nothing that's new what he
does, but I think it's new topeople understanding, and I like
(04:59):
the way George and his team hasput it together to simplify
that, basically, whatever youneed, starting out with your
company, and whether you've beenin it for 10 years, you've been
working it for years, they area resource to come to, to keep
paying you out where you couldbe lucrative and, at the same
time, you can receive money.
So, with that said, give us anexample of where having what you
(05:22):
do has helped a person toactually wind up results of
getting money by having yourtype of business attached to
them.
George Mayfield (05:30):
Yeah, so we've worked with clients before and
that needed to implement somesort of systems and processes
that come from an operationsbackground, and that's kind of
where we started.
The company was frameworkconsulting and we really just
focused on you know operations,and so in doing that, a lot of
times we would work with thosebusinesses and find out that
they have other providers, andso those businesses have reached
(05:52):
out to you know bookkeepers oryou know HR people or whoever it
is, and we never really meetthose people and then.
So what we saw was that therewas a gap in that in ourselves.
So what we're able to do now isbring all of those companies in
together for that businessowner, and that really helps
them to stay more organized.
It helps them to understandwhat's going on in their company
(06:15):
.
It helps us to fully help them.
So imagine, you know, if you goto a doctor and you might have
some specialists, if you onlyever saw those specialists and
those specialists didn't talk toeach other, you know you'd be
spending a lot of money and andeach one of those specialists
may be recommending somethingthat they may not recommend if
they knew what that other doctorwas recommending.
So what we are is more of that.
(06:35):
You know sort of that generaldoctor that it comes in and, you
know, gives you the referralsto go out to these specialists,
Exactly, Exactly, and it reallyjust helps them to stay on top
of everything and it helps us tohelp them, you know, march
towards their main goals.
Jacquelyn Jackson (06:53):
Right, and that is a wonderful, great
analogy to look at it as youguys being a PCP, because I
think what we do as businessowners is that we don't even
know a connection need to bemade.
You know, and I hadn't realizedthat, like I said, we I've been
talking to you alone, with someothers and we're finding out
that connection is reallyimportant because even in our
company we do that, because whenyou do not talk to each other,
(07:17):
that's hand on parts of thebusiness, then there's going to
be a non-cohesive nips that'snot going to be there.
Intro (07:24):
Yeah, period.
Jacquelyn Jackson (07:25):
And we just think in business, we don't have
to do that Now.
This is what I want to say, andI know you probably agree with
it the way we did business 20 or10 years ago is not the way
it's being done today.
George Mayfield (07:33):
Yeah.
Jacquelyn Jackson (07:34):
So, when it comes to the technology and for,
as you, keeping the businesseswhere they can be a part of that
and still grow, how do you guyshelp them to navigate from
where they used to be to whatthey do now?
How do you do that?
George Mayfield (07:46):
Yeah, so getting them from what they used
to do to where they do now, youknow that's what our C-suite is
there for, right.
So we're all experts in our owndiscipline.
So our C-H-R-O, for instance,she is up on all of the HR laws,
like there's new laws, you know, because of COVID, all kinds of
laws you know that arehappening every year and you
(08:07):
know she's going to stay on topof that because that's what she
does, that's her expertise youknow, and as an operations
person, you know I knew when Iwas helping people before we
created Frameworks Consortium,you know I knew we needed job
descriptions right and I can sayyou know, we need a job
description in place.
It needs to look like thathere's some free templates from
the internet, but that C-H-R-Ois really going to know a lot of
(08:27):
what that company needs intheir place to make sure that
they have the right team.
Same could be said for theC-I-O.
They know what sort oftechnologies, what mixture of
technologies, is going to helpthis company in the best way.
Now, when we all work togetheras a team, we can come up with a
really good winning plan forthat company.
Now, a lot of times wheneverpeople are not talking so you
mentioned that we talked alittle bit about that before I
(08:50):
was actually talking to one ofmy client's bookkeepers for the
very first time the other dayand as an operations consultant,
we were helping them toimplement a system in their
company that talked to theirQuickBooks and would be able to
pull inventory items forprojects into this system so
they could see how much they'respending on equipment and labor
(09:13):
and all of these things, and wefinally had a we're able to have
a meeting with their bookkeeperand we found out that their
bookkeeper has already beentrying to clean up their chart
of accounts for the last year.
But their bookkeeper is comingat it purely from a tax oriented
perspective.
They want to get that chart ofaccounts set up so that whenever
they file taxes they make iteasy for them and makes it look
(09:37):
more attractive to thegovernment and I'm sure it makes
it more attractive to banks aswell.
But what's more attractive tobanks is to look at that
operational chart of accountsand to see sure you may be
filing your taxes this way andit helps you to get the best tax
rates.
But if you are able to look atyour books and see how you're
(09:57):
doing operationally, andespecially if you're doing well,
you're going to be a lot moreattractive to somebody that's
trying to lend you money.
Jacquelyn Jackson (10:05):
And that's true, because, as a loan broker,
that's what we look at.
We look at the financials andwe have to tell people.
Many times what you turn in fortaxes may be different, a
different view of what a lenderis going to look for.
And the only way you're goingto know that, if you bring
people in, they can guide you,and it's not.
You bring on a CPA and they'regoing to do everything that you
taught my doing.
So we definitely want you allto understand everything we're
(10:26):
talking about.
You need is not a CPA that cando all of that.
That's not what they do.
That's why it's important tomeet these guys.
Like I say, like your PCP, yourmain doctor you go to first and
then they'll get all thosespecialists and bring them into
you so you can make a tillageand choice of what you want to
do.
Now, I think that's what, likeI said, one thing I think that's
really good about with yourcompanies, because you look at
(10:48):
everything of going on with themand see that's what I don't
think a lot of our listeners andentrepreneurs know it's
available that they can come toyou and you could start that
plan for them so they don't haveto be out here by themselves.
Is that basically how you work?
So how does that relationshipgrow?
Or how is it with you and yourclients when it comes to helping
them do everything they need todo?
How does that work?
George Mayfield (11:10):
Yeah, so again, talking a lot about like a
doctor.
If you are just you and I, wemight go to the doctor once a
year, maybe even once just everycouple of years, and the first
thing we do when we go in andsee that doctor is they're going
to take our blood pressure,they're going to weigh us,
they're going to take a coupleof measurements on our body, but
(11:30):
we're not getting that doneevery day.
Right, we might be stepping ona scale ourselves, but maybe I
know I don't but if you're anathlete, if you're an athlete,
you've got that doctor coming toyou every single day.
They're taking your weight,they're looking at your muscle
mass, they're looking at all ofthese things.
Why do they do that?
It's because an athlete ismaking money with their body.
(11:53):
Right, it's very important tothem and it's very important to
whatever team that they'reworking for is that they are
able to perform in the best waythat they can, and your business
is an athlete.
You're there to perform, and soyou should be looking at these
measurements on a daily basis,on at least a monthly basis, and
what we do is we help them tomonitor those KPIs.
(12:14):
We're looking from all of thosedifferent perspectives, whether
we're looking at how satisfiedyour employees are, how often
they're dealing with IT issues,what your finances look like on
a monthly basis.
A lot of business ownersthey'll just look at their bank
account once a month, or maybeeven a daily.
You know like what is, what ismy revenue coming in, how much
money am I spending, and that'sthe only KPIs that they look at.
Jacquelyn Jackson (12:36):
Right.
George Mayfield (12:36):
And that's just not a good way to run a
business if you truly want toperform.
Jacquelyn Jackson (12:40):
Right and understand that KPIs are like
key performance indicators, andif we're mentioning anything to
you guys that you're notfamiliar with, that's indication
, you need to call.
You need to call them becausethese are things.
Whether you know it or not,they are needed in order you to
perform well in business andthat's what people have to
understand.
Whether you know what to do ornot, it's being done and it's
(13:03):
going to be judged whether youget a loan or not based on what
you've done.
So just because you don't knowthat I'm going to get a loan and
say, oh, you didn't know this,I'm going to get you a million
dollars.
That's not happening.
So it's best to get with someonelike George, his company, to
kind of guide you starting outon this, and you don't have to
know everything.
A lot of us in business wethink we have to know a certain
amount of stuff before we cantalk to anybody.
(13:25):
And no, you don't, that's whatyou all afford.
You're more comfortable.
So, when it comes to gettingfunding, I mean specifically,
how would having you on boardhelp them to get that funding
Exactly?
George Mayfield (13:37):
Well, you know, that's actually happened in
several cases with our clients,because a lot of times, like the
business owner doesn't evenknow how to talk to their banker
, they don't really know how totalk about.
You know what systems thatthey're putting in place.
You know, I'm putting in an ERP.
I don't even know what that is,you know, but we're able to
come in and say you know whatwe're going to do is we're going
(13:58):
to put in this system and it'sgoing to be able to help us to
understand what their inventorylooks like.
It's going to help us tounderstand, you know, what their
movement looks like.
It's going to be able to helpthe company make better
decisions on what they need tobuy from manufacturers because
they know they're going to sellit.
It helps them to identifytrends and things like that.
So we can help the banks, youknow, and the businesses by, you
(14:19):
know, just talking and walkingthem through what they need that
money for and how we expect thebanks are going to get their,
you know they ask thosequestions what are you using the
money for?
Absolutely Well a bank is abusiness, you know.
They're not just there to say,hey, I got money.
Just, you know, I just gotextra money, I'm going to give
out.
Right, they're a business,right, and, as you imagine, if
you're, you know, if you have ason or a daughter or even just
(14:41):
an employee that says, hey, youknow, I want, I want $100 to
invest in myself, you're goingto say, well, what are you going
to do with this $100?
Right, and they better have agood answer, or you're not going
to do it.
Jacquelyn Jackson (14:52):
Right, and that's how it is with the banks.
I think people don't think likeI have to tell folks.
The banks, the lenders, ask youquestions.
They pretty much already gotthe answers to.
They just want to see whatyou're going to say and how much
you know.
So when I said you didn't haveto know anything to reach out to
George, you don't, because he'sgoing to help you, he's going
to educate you.
But when you do it alone and gointo a bank or to a lender,
(15:12):
then you're going to have toknow your KPIs.
Okay, you're going to have toknow those numbers.
Now they may ask it in a waythat may not say KPI, but if
they say, well, let me see yourprofit and loss statement and
they go and look at youroperational expenses and what
you do it and how it's your net,they're figuring out already
what you look like.
So that's what I'm saying.
So it's important for you toknow what the banks know in
(15:34):
order for you to get the loan.
And that's where you guys comein, because you're educating
them on everything they need toknow in order to get the loan
what they need to look like andwhat you need to look like after
you get the loan, how you'regoing to pay the loan.
A lot of people will call us andyou know, the first day they
say I said well, how much moneyare you trying to get as much as
I can get?
Oh, that's not the way thatgoes, because what we have to do
(15:56):
is what you qualify for and Idon't think they realize.
That's why we said our teamsaid it was so important to get
you on our podcast becausepeople need to understand.
They need you in order to getthis money, to understand it and
get more.
Now you may get hold on.
Let me say this Some people get$20,000, $30,000.
But when you bring in I cally'all key performance guys you
(16:19):
bring in a growth consultant guythat works with you on your key
and growing your company, youcan get not only more money, but
you can get more money overtime as much as you need it,
because your business is goingto sustain it and show it Right.
So, that's what I think is agood point.
So what would be some, I guess,what would be one of your most
(16:40):
advice that you can givebusiness owners today when it
comes to funding?
George Mayfield (16:44):
And you know we've kind of already touched on
this, but the most importantadvice that I would give to any
business owner is that you arenot alone.
There are people like myselfthat are out there to help you,
and within my organization,we're always bringing in vetted
service providers that do thework.
You know, we're working withbookkeepers, we're working with
(17:05):
lawyers and just any servicethat a business might need.
And then not only are we just,you know, referring you to
somebody that we like you knowthat we like to have a beer with
you know this is, we'rereferring people in that their
mission and culture, theirvalues match our clients.
So there's many, many differentways to provide bookkeeping
(17:26):
services, for instance, but youknow, we match the ones that
match our clients the best sothat they hit the ground running
.
They speak the same language,they know what's going on, they
come in there and they yep weknow what's going on here, We've
seen this before and let's hitthe ground running.
And then we all work togetheras a team.
So the biggest, biggest advice Ican say is you know, don't have
(17:46):
the ego to think that you haveto do this all alone.
Just put yourself in a roomwith other people that have
better skills you, as a businessowner, are really good at
whatever it is you started yourbusiness to do Right, and you
know it's probably unlikely thatyou started a business that
helps other businesses, Right,so you know, and if it is, eat
(18:08):
your own dog food, right, Right.
Jacquelyn Jackson (18:10):
Right, that's a good way to look at that.
So we're basically what you'rebasically saying is just to get
help.
Don't sit there and don't getit, and I and I know what you're
saying when you talk about,like, people with different
needs, that they need and youall can give it to, which is a
custom.
I consider custom because, likeyou may have a client that have
and you correct me from wronglike they, they may have
(18:31):
technology issues.
In other words, they're doing alot of stuff that's manual, that
could be automated or how theygot it now with stuff is, I
guess, with rapid they'reconnecting with automation and
all that stuff, but I know youall bring that to companies
where it benefits and is moreprofitable for them to have.
So I guess what I'm saying toois you know, my takeaway that I
(18:51):
get from it that I think isimportant for them to know is
that you need to understand yourbusiness, and if you don't
understand your business, youneed to go and learn your
business.
And that's what you guys do,cause you work with those
different elements already.
You just partner them up withthe clients that need certain
things before them.
George Mayfield (19:12):
Right.
Jacquelyn Jackson (19:12):
So basically you're just a counselor that can
come talk to you and work thisthing out on everything their
business, on growing andeverything and in turn that
works for us because we're ableto give you money if you show
that you are set up like that.
Intro (19:25):
You know.
Jacquelyn Jackson (19:25):
So that's what's important, and remember
you all, we're all talking.
We're talking today mainly ofwhat you need to do with your
business in order for you to befundable.
You don't have to guess at itand pray for it, throw it on the
wall and hope something.
Stick with this application.
You don't have to do any ofthat.
All you have to do is get withsomeone that can help you set
(19:46):
your business up, or look atyour business and see what you
need and what you don't need.
Am I correct?
And that's how you all do?
Absolutely.
So how do they?
Any recommendations as far asfor our listeners for more
information about your industryand about you guys?
Like I said, definitely want totalk about your book.
George Mayfield (20:01):
It's what you want.
Jacquelyn Jackson (20:02):
So if you would give us some enlightening
on that a little bit, yeah.
George Mayfield (20:05):
So I wrote this .
Frameworks for business success.
This book is, you know, took meabout a year and a half to
write, but it was.
It was kind of a labor of love,because I really want to get
this message out to businessowners.
And you don't have to call me Idon't know how many consultants
was coming here and say thatyou don't have to call me, get
this book and just read it.
(20:26):
You could do it yourself, butyou're going to need help,
because that's what this is allabout is that you cannot do this
alone.
And even if you are a really,really good, you know I keep
using bookkeepers.
I like bookkeepers.
But you know, let's say you area really good bookkeeper and
you started a pool cleaningbusiness and you want to keep
doing your books.
So that's fine, that's fine.
But you know, like we talkedabout before, doing your taxes
(20:47):
is different than you knowfilling out paperwork for a bank
or being able to explain orlook at KPIs to your bank.
And if you are a really goodbookkeeper, are you also really
good with your IT?
Are you also good at makingsure that your emails that
you're sending out to potentialclients are making it to your
potential clients because youhave your email set up.
You know just all of thesedifferent things Are you good at
?
You know training up employeesright.
(21:08):
You can't be good at everythingright, so you just can't do it
alone.
And this book has, you know,several chapters in it,
basically on all the things thatI thought were the big
frameworks that a business needsto operate, and these are a lot
of things that you know.
Most business owners don't havean MBA.
You know a lot of businessowners haven't even worked for a
corporation or, if they have,they haven't seen.
(21:29):
You know all the differentdepartments and how it works,
and so I do have that backgroundand you know I come from a
background.
Also, you know, I grew up in asmall town, working, working
with you know entrepreneurs thatwere, you know, welders.
I had a cousin that cut horses,which doesn't mean what you
think it does.
Jacquelyn Jackson (21:47):
What does that mean?
We need to explain that.
George Mayfield (21:49):
Yeah, that's, it's like racing horses Okay,
like Texas racing, because.
Jacquelyn Jackson (21:53):
I like horses .
George Mayfield (21:56):
Yeah, so I've worked for small businesses
before.
I've, you know, was in themilitary, I saw how big
operations work.
And then went to college, gotmy MBA, learned, you know, from
books, from people like MichaelPorter and you know just all of
those, you know frameworks thatthey teach you and the MBA.
And then I started working forcorporations.
And then back to small businessagain, because that's really,
really where my heart is.
(22:16):
And then, when I startedconsulting with them, I thought
you know these, these businessowners have you know what I love
about small businesses?
It is the backbone of oureconomy.
It is, you know, and Ipredicted last, you know, about
two years ago, whenever COVIDwas was hitting.
My prediction was that thereare going to be a lot more
(22:37):
smaller business and smallbusinesses going to play even
more of a role in our economy,as corporations are no longer
relying on full time employees,full time departments.
They're starting to let go ofthese employees, let go of these
departments, outsource this,outsource that, and so who's
outsource?
Who are they outsourcing to?
Intro (22:56):
They're outsourcing to small business right.
George Mayfield (22:58):
And so if, if you're a small business and
you're a, you're an IT companyand and you're just working for
the mom and pop little shops andthat's fine, but you know these
corporations are looking tohire you Exactly you know.
And how can you scale from fromworking with residential to the
mom and pops, from scaling fromthe mom and pops to being able
to work with a corporation?
(23:20):
You're going to have to showthe corporation to how you're
operating and how you'reimproving and how you're going.
You know what your plans are toimprove your company so that
you can serve them better.
They're going to be looking atyour company just like they were
looking at their employeesseveral years ago.
Jacquelyn Jackson (23:34):
And a lot of that comes in a form of a RFP.
Now what RFP is basically aproposal for this?
If you have ever went, pleasejust go look on up.
Do one for the airport, anybody.
The RFP is so darn thick andtechnical.
If that don't tell you, youdon't know what you're doing.
Just read it.
It will tell you that.
But I'm just saying no, I'mjust playing.
(23:54):
So what I'm seeing is that youcan help them to prepare where
they can look good forcorporation because they are
beginning business off our helps.
And you're right.
A lot of more people are a lotof more people are getting into
the entrepreneurship andeverything right now, but with
their own.
Understand the technology andwhat's happening now.
In order for you to stay inbusiness and to be successful,
(24:17):
you're going to have to wind upa face in all this for your
prank work.
Whether they come to you or not, it's out there and you need to
.
We're giving you a resource tocome to where you can start to
help and we're talking about ifthey start off as a small
business.
You can still work with themand you're going to help them to
grow as they grow.
So he's not looking at youcoming with all these people.
(24:37):
Just come yourself and make thephone call, Email us.
You can definitely know that.
You know our email istdjequifundinginsiderspodcastnet
.
You can send us an email andreach out to us and we'll
definitely get you with Georgeso you all can kind of get with
them, because these are thingsthat you need if you come into
us for money.
Now let me say, if take a minuteto say on our side, when people
(25:00):
come to us, they have broughtus financials that are not
correct and when I talk to themabout it, they don't even know
how to correct.
So it gets to go back to theCPA, which we'll wind up
eventually getting some correctones.
But this is what I tell them.
I'm going to tell my owners youmust know your own numbers.
Okay, cpa is just there toprepare your Texas before it's
(25:24):
your strategy, how you're goingto save and what you're going to
do.
That's a different way to lookat that.
Okay, and this is where theycome in with and what I think I
love about their group that theyhave George has, where you're
not going to be paying extra forthe same thing or paying double
.
That's what I'm saying yes,because sometimes we're at
business on.
We're paying for stuff, that wealready paying for stuff.
(25:46):
Yes.
So he comes in and kind of helpyou and give you a guy and it's
any size business, am I correct?
Just get the phone call, justcall him, you know, so he can
kind of start helping you there.
And it helps us as loan brokersand all of us appreciate him
because he gets you togetherwhere we can go and get you
approved faster.
So that's why it's important wewant to bring him onto the show
(26:09):
to let you know this serviceand this entity is available and
it's out here You're not byyourself and that you can just
contact us or contact George.
Like I said, we have thisinformation as well for you guys
, so you all can kind of be incontact with him.
So to round up what we're doingtoday, is it any final words
you think that you would likethe listeners to know?
George Mayfield (26:30):
Well, you know, like you mentioned, like I,
have a heart for, for everybody,even if you're a solo, if
you're a stay at home mom andyou're a photographer, like
you're running a business juston the side.
Well, even if we're thinkingabout doing the business,
thinking about it, you know goto my website,
frameworksconsortiumcom, scrollall the way down to the bottom
and you'll see some tools.
(26:51):
So we've got different thingsthere.
If you're in Dallas, we'd loveto connect you with some
networking events.
I have a lot of different toolsthat I use, you know, for for
company promotion or to run yourbusiness.
Like.
These are the tools that welike to use, so we like to give
that information out to people.
So, even if you know we're nota good fit to come and work with
you, we do still like to, youknow, give you a resource and be
(27:14):
a resource, yeah.
Jacquelyn Jackson (27:16):
Okay, okay, good, all right.
So you're saying, no matterwhat, just give you a call just
to talk.
I mean, if you can help them,you help them.
If you can't hear directlywhere you can, and I like that.
I like that Georgia direct youwhere you can get help, instead
of oh, I can't help you and hangup.
I love that part about youbecause you do, you are
connected and you have a lot ofpartners that work within your
suite, but you also help peoplethat you can help by giving them
(27:39):
just information as well.
George Mayfield (27:40):
Absolutely.
Jacquelyn Jackson (27:40):
So see.
So you guys, we have no reasonfor us not to make the call.
We should make the call and wedefinitely want you to do that.
We do understand again.
What we brought into you allguys today was bringing in, uh,
Mr George to come in and talk toyou about getting that
appointment with him.
Hopefully it's not with him,with someone like him.
Okay, that can help you withyour business.
(28:01):
I just don't want you all tothink that you can continue to
do business off your hill.
You really need to getprofessional help, especially
when you start talking about themoney and stuff.
So we're looking at, like Isaid, the loans that we've done.
I mean people went from 300,000to 1.7 million, but people they
had their stuff together, youknow, and that's where that came
(28:21):
in.
A lot, A lot of them wasdealing with where they were
told they're going to get thismuch money and we show where
they can get more.
Because once they got withpeople like George, they were
able to add the value and helpthem get all their key
indicators in place that when wedid the financials and they did
all that, it looks so good thatthe lenders were like, yeah, we
can fund this one.
So that was a difference andthat's just my story of a
(28:43):
difference of not having yoursort to help with a client
compared to when they're bythemselves.
So it did make a differencebecause the client had some
indications that he'd alreadyworked with his consultant on
and had showed him the frameworkand that's why it was easy for
him to pull all this out of forhis hospital company.
That was awesome.
So that's why I know we areglad to have him on the show.
(29:06):
We want him on the show becausehe's bringing something that
business owners are notnaturally aware of, so we do
want to thank you for coming.
Thank you for having me here,hey anything else you think that
you would like to say to thelisteners.
I know you told them about yourwebsite and we're going to put
your website up right becauseyou gave us a website, so we'll
have that on where you guys canhave that as well.
(29:26):
And then the book.
We'll also put this they can goto your website and order the
book.
George Mayfield (29:31):
Yeah, my website.
It's on Amazon.
Barnes Noble, your localbookstore.
Let me support your localbusiness right.
So go to your local library andask them to stock it.
If you don't want to buy it, oh, you can do that.
Intro (29:43):
Oh right, you can do that yeah.
George Mayfield (29:45):
And I would recommend, even if you're going
to get a consultant that isn'tme, get this book, flip through
it, even if you're not going toread the whole thing.
I understand it's thick, right,I understand.
That's how much information Ifeel like business owners should
know.
But even just flip through it.
That way, if you do get anotherconsultant, you can say hey,
what about, what about thisRight?
And and you know, just to makesure that you can vet out your
(30:08):
own, your own help right, Causethere's a lot of people out
there that that are out.
You know, maybe they just boughtinto some franchise and they're
like you know they're going tocome in and coach you and
they're not really.
They don't really know reallywhat they're talking to.
Jacquelyn Jackson (30:21):
There's business in a box, just say it
yeah.
And they sell it to you.
George Mayfield (30:29):
That's what it is.
That's it, yeah, you know.
So just be careful.
I've seen business owners getinto that sort of thing and
they're and they're often somedirection that you know they're.
They're getting coached in somedirection because the person
who's telling them it hasn'tbeen where they are Exactly.
They haven't really looked attheir business.
They're trying to just sellthem this and they didn't dig
into your business.
You know, uh, you know, you,would, you?
You don't want to go to adoctor that doesn't check your
(30:52):
vitals, right, you know what?
Jacquelyn Jackson (30:52):
I mean.
So you basically said, likewell, this book, you got a
guideline.
That's what we're trying to say, absolutely Something to start
with, and I think that is great.
So it's fame rose, frameworksfor business success Okay, by
George Mayfield.
You wrote this book for real, Idid, okay.
He said for real, yeah, forreal, okay.
So I think you all need to goget the book.
It's a guideline of what'savailable for you as a business
(31:14):
period, and then they can alsoget in touch with you in here.
George Mayfield (31:17):
Yeah, I decided to want to get with you.
Yeah, my contact information ishere in the book as well.
Okay, great, oh, great, wellthat is great.
Jacquelyn Jackson (31:23):
Well, I can say I want to thank you again
for coming in.
I have enjoyed it.
I'm glad you came.
George Mayfield (31:26):
This has been a lot of fun.
Jacquelyn Jackson (31:27):
Thank you, and we would definitely want to
have you to come back, you know,in a year to go on.
The year to go back becausewe're going to actually make do
a little bit more with thegrowth strategy for businesses,
because we may have certainthings going on that we
definitely need you all to be apart of, and we're likely to be
there for a certain occasion.
George Mayfield (31:43):
Okay.
Jacquelyn Jackson (31:44):
Thank you so much again, and also we want to
thank you guys for tuning in tous today.
We also want to let you allknow that you can subscribe to
us on any of your favoritepodcast TDJ Equally Funding
Insiders.
Please subscribe so you can bein the know when we have some
new ones coming up and we aregoing to be talking about some
things that's really more intune of again continuing to more
(32:07):
of in tune of of you gettingfunding.
We're going to continue that.
Also, tune in to our YouTubechannel, which is TDJ equity
funding strategies, and that'son our YouTube, and definitely
go there, because we have a lotof videos and tapes that are
talking about this.
This one actually be there aswell, along with these, will
give you resources and toolsthat's located to help you
(32:29):
understand the funding world orhow to get money for your
business.
Again, I want to thank you guys.
Until next time you take care.
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