October 20, 2024 • 17 mins
Trudy Eshelman, our beloved CFO and my mother, takes us on a captivating journey through her transformative career with Wards Marine Electric. From her beginnings in the mid-80s as she shifted from teaching to part-time accounting, Trudy recounts her pivotal role in the company's evolution from general ledger books to computerization. Her insights into the creation of the first company catalog and the expansion of departments underscore the significant milestones in Wards Marine Electric's growth. We also reflect on the personal dynamics of working within a family business, where traditional communication methods play a crucial role in maintaining personal relationships.
Join us as we uncover the secrets to family business success and delve into the complexities of financial management, where balancing familial and professional roles is paramount. Trudy offers invaluable reflections on succession planning and family legacy, sharing her unexpected career path and how she found her place within the family company. This episode is rich with stories of adapting to industry demands and the importance of education and self-discovery. With genuine gratitude and optimism for the future, we express our confidence in the current leadership's vision for continued growth and success.
Wards Marine Electric
https://www.wardsmarine.com/
Wards Way YouTube Channel
https://www.youtube.com/@WardsWay75
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Kristina Hebert (00:06):
Welcome to the Wardsway Podcast.
Trudy Eshleman (00:29):
Well, welcome to the Wardsway Podcast Today.
I have this special guest withme today, trudy Eshelman, who is
our company's CFO, but also mymother.
So welcome, thank you.
And I thought it would be agreat idea, since we interviewed
Dad and Warty to find out howdid you get involved with the
company and when did you startwith Wards Marine Well, I
(00:53):
started in the mid-80s, I wouldguess, just as a part-time.
Kristina Hebert (00:57):
I was a teacher for 20 years, education,
English and guidance, and I knowwhen we started growing the
company we needed somebody tocover for vacations, for
accounting.
So that was my first experiencearound the mid-80s I couldn't
tell you what date and it wasvery foreign to me because this
is before computers and this is.
Trudy Eshleman (01:17):
General ledger books.
The big yellow books, ohgoodness, yes.
Kristina Hebert (01:20):
And everything was on a little pegboard, all
the customers and all the otherorders and everything like that.
So that was kind of a challenge.
And then shortly after that wedid go on the computer and I
believe you mentioned that andyou were in high school or
barely in high school.
Yeah, and that was that.
So that was my introduction andbut I was still working full
time as a teacher and thenfinally, in 1990, I believe it
(01:43):
was that's where we startedlooking for property for this
particular building that we'rein right now.
Yeah, and I was kind ofinstrumental in looking things
over and then somehow I stoppedthe teaching and I just became
involved in the company.
Ward wanted a catalog.
So our first catalog, I'llnever forget, was a big binder,
(02:05):
okay, and we had all thebrochures.
Trudy Eshleman (02:08):
Like with page protectors and stuff.
Kristina Hebert (02:09):
Yes, oh yeah, and we had one outside
salesperson, so he had onebinder.
It was one binder.
Trudy Eshleman (02:15):
We only had one binder.
Well, that was the catalog.
That was the catalog with onebinder.
Kristina Hebert (02:20):
Okay, so we've come a long way.
We have, we have, and then Iremember moving in after you
graduated from college.
That's when we shared thisparticular space.
Trudy Eshleman (02:30):
These were the new offices.
These were the executiveoffices.
This was ours right here, sure.
Kristina Hebert (02:36):
Yeah, 1993 or 4 was when we opened, I think you
came in 96.
And I just remember our firstcatalog because it was so
different, shall we say I had mylong yellow tablet page and I
would write all the informationand you had to put it into
PageMaker.
You kept saying you keepputting this paper longer and I
(02:57):
can't make it.
Trudy Eshleman (02:59):
Well, pagemaker, so it was.
It's an Adobe product and Iremember it took about what 27
floppy disks, if it gives us ourtiming to load the program.
But yes, we were planning onprinting an 8.5 by 11 normal
page size catalog and you wouldget these legal pads that would
be folded over on the bottom andjust well, it kind of looks
(03:19):
like it's 8.5 by 11, but therewas all this extra.
So, yeah, we would have to kindof rearrange and move and,
ironically, we're finishing acatalog right now, so it's and
it's.
Kristina Hebert (03:29):
It's that time, yes, and it's some.
Uh, this is we've come a longway.
And then after that I'm notcertain exactly when it happened
I believe it was pretty muchwhen we moved into 617 that ward
said he needed a CFO and heneeded somebody he could do all
the accounting system.
So I would be overseeing it,which I did, and I've learned a
(03:54):
lot.
I had no accounting background,but Ward was a very good
teacher too, and so it's justkind of taken off from there and
I've enjoyed it.
And now I'm kind of easing offthe other direction because it's
time to get close to retirement, but I'm still working remotely
(04:14):
and trying to get.
Trudy Eshleman (04:16):
So what else has changed?
What have you seen change withthe company?
Obviously, accounting toolshave changed since the 80s.
But I would say, what else haveyou noticed over the years?
Just, you know you traveled alot with Ward to various
seminars or to boat shows.
What have you noticed from thatperspective?
Just changes in the industryover the period of time.
Kristina Hebert (04:39):
Well, I think the computerization of
everything has definitelychanged a lot, I think, our
employees I can just see thegrowth.
Even when we moved into 617, Ithink we were probably maybe
half the size that we are today.
So I've seen a lot of growthand I've seen a lot of new
(05:00):
energy come in and all thedifferent things that we have
done.
I just think of our differentareas our engraving it used to
be one little office upstairshere and now we are.
We have six tables in there now.
Yes, sure, so that's grown alot.
Our inside service hasdefinitely grown a lot.
We've taken on a lot of biggerprojects with boat builders.
(05:23):
I mean, before we were I meanwe were always a repair, that's
how it started out with Granddad, I remember.
But we have just really grownwith the industry and a lot has
to do with the leadership andyou've grown it a lot more.
Trudy Eshleman (05:39):
Just, since you've taken over a lot of new.
Sure, hey, we're having apodcast.
Look at this, we're on apodcast, mom.
I mean, this doesn't get.
You know, we're pretty hip now.
Kristina Hebert (05:46):
Yeah, right, yes, definitely.
So I think we tried to keep upwith the times and I think we've
done a good job of it.
Trudy Eshleman (05:52):
So yeah, well, I definitely remember.
I know for me, and maybe youcan empathize with this too,
when I first started I was goingto go into law school and then
I was going to be a teacher orsomething else, and so this was
a part-time gig that I certainlywasn't going to stay at long,
and I think maybe you kind offelt the same way when you kind
(06:15):
of, and then it became.
I always say everything I neverknew, I always wanted, you know
, I got to work with all thedifferent departments and
immediately fell in love withthe company, so, and I wouldn't
trade it.
Kristina Hebert (06:27):
No, I wouldn't either.
It was.
It was a big leap to changefrom education to this to
private sector, and you know wethought we talked about a long
time and finally Ward says well,I really could use your help,
you know.
So I, I really have enjoyed thechallenge.
I mean sometimes it's not asmuch fun as it could be, but
(06:47):
most of the time.
I mean it's a learning curveand but I've enjoyed.
I'm more in the background, Iwould say I don't get to see as
many customers particularly, butI've gotten to know the
employees.
You know their accounts verywell, though.
I do know their accounts.
You know what they buy and howlong it takes them to pay.
Yes, I do, I'm the bad guy thatputs people on hold
occasionally, but for the mostpart, I think our customers are
(07:11):
great.
Oh, absolutely, and I can'tcomplain about it at all.
And we've been very fortunatethrough the years to acquire the
customers we have and thetalent we have working for us,
and I know that's something youand Ward talked about is it's
very hard to find nowadays?
Trudy Eshleman (07:26):
Sure, Any place you see the company growing that
you and Ward had talked about,that we never really actually
got around to it, or you guyswould like to see.
I asked Ward the same questionbut if there was a growth side
that you would like to see, Well, I think we're already seeing
(07:48):
we talked about we shouldn'tkeep it just so local.
Kristina Hebert (07:53):
You know we wanted to spread out across the
country and across all thenations.
Right now you're going to boatshows all over the world and
we're doing work for people allover the United States, at least
up and down the East Coastpretty much, and that was, I
think Ward always had in mind, acertain period of growth.
You know he took it very slowly, but I think you're continuing
(08:19):
that because you're spreading itout to the other countries.
I mean, and that's wonderfulthat people from around the
world know about us now, whereasbefore I think we were more
regional.
Trudy Eshleman (08:29):
Well, and I also feel like, in fairness, that's
one where technology and we'llget into technology but I think
technology made the world asmaller place so that, you know,
through Zoom, through Teams,through airfare, through
everything, we can just pop overto the other side of the world
in six, eight hours, probablyany day of the week, or we can
have a conference call, or wecan have a Zoom meeting with our
(08:50):
counterparts over there, and sowe're able to have these normal
conversations.
So now technology.
I know I've been speaking witha lot of guests about that as it
relates to what do you feelabout AI?
I've asked everybody thatquestion and so in some cases,
ai has been really helpful on amarketing side and, speaking
(09:12):
with people that do social media, they're really embracing it.
From a manufacturing side,being able to do some of the
calculations of manufacturingproducts, it seems like.
But I'm wondering, on thefinance side, as a CFO, do you
see AI being helpful ordangerous?
And there's no wrong answer.
Kristina Hebert (09:31):
Wow, I'm not certain I would want to turn
over the finances of the companyto AI.
Not yet, but that could be just.
Maybe I'm not aware enough.
I know they work on algorithmsand things like that, but I do
believe, customers, there's apersonal aspect to all of this
that AI can't realize.
It just doesn't know.
So I'm a little say, as far asaccounting right now, no, I'm
(09:56):
not quite ready to embrace it.
Well, and there's nothing wrongwith that.
Trudy Eshleman (09:59):
As far as accounting, right now, no, I'm
not quite ready to embrace it.
Well, and there's nothing wrongwith that.
I think I've been a bigproponent.
Sometimes we have to stay oldschool, so to speak, and we
talked about relationships.
We've talked about working withour clients, and sometimes how
do you keep those relationships?
It's not via email, it's notmailers.
It's picking up the phone, it'sseeing people at boat shows.
(10:19):
That's important, it's it'svisiting, it's going to their
business, it's shaking a hand.
So I think old school alsoapplies to finances.
You know, let's, let's, let'slook at the account, let's see
what they've been buying.
Let's let's evaluate if we needto raise, because we do a lot.
I don't know if a lot of peopleknow that we have a lot of
credit accounts too, which it'snot that we just take Visa,
(10:41):
mastercard, american Express orcash.
We provide 30-day term accountsyes, we do To a lot of
companies and a lot of othersuppliers that I mean a lot of
other contractors that we're asupplier to, and so you have to
help manage that and make surethat people stay within terms,
because we're the bank yes, yeah, we are we don't.
(11:02):
We don't usually charge ourfinance charges, so we tend to
write those off.
Usually 2025.
We're going to enforce them.
Okay, you heard it here, nowell, we try.
Kristina Hebert (11:11):
I mean, some of them are enforced and some
people pay them.
You know there's been someproblem as far as they didn't
get the bill, sure, but we dotry and pick up the phone.
I think that it does go a longway, and I think it does go a
long way, whether it be our,whether the salesperson or the
person who who me at times, orit does because they can.
(11:32):
They know they can call if theyhave a question too, and I
think that's one thing thatfrustrates me so much, when I'm
trying to get in touch with acompany and all I get is a phone
tree and it just dumps me intoa voicemail and you know, or you
sit on hold, and I think we arepretty people friendly, we try
to be, and I think that's alwaysbeen an asset, so I don't know.
(11:55):
But the 30-day accounts aregreat.
All they have to do is fill outa credit app, which is on our
website, and we just follow upwith it, and we've gotten a lot
of new customers because of that, with big projects.
Trudy Eshleman (12:07):
Well, and I think it helps the boat manage.
If it's a yacht managementcompany, it helps them manage
the project.
So it keeps their cash flowgoing too.
They can make monthly and Ialso think it helps other
contractors.
Like I said, if they're tryingto get a job, they can get a job
done, they can get paid, theycan be able to pay.
You know all businesses have acash flow.
(12:27):
I remember that being kind ofthe number one term.
I used to hear from you a lotand it is important your cash
flow to work on that as acompany.
That's how people get into, getinto trouble when you lose that
basic concept money in, moneyout.
Kristina Hebert (12:41):
Right, and that's always a balancing act.
I mean, that's something that Icheck every day to see the
income and the outgo and youknow I run the aging once a week
and things just to see ifpeople are in behind or if
there's something I have towrite off or whatever.
But yeah, it is very importantto keep the cash flow going.
Trudy Eshleman (13:04):
So how has it been with?
I know a lot of people I'll askyou the question, but a lot of
people have asked me aboutfamily.
I know that Ward and I havetalked about it a lot about a
family business.
Wardy and I talked about family.
I know that Ward and I havetalked about it a lot about a
family business.
Wardy and I talked about it.
How is it for you being part ofthe family and what is your
advice to give on a familybusiness to others?
Kristina Hebert (13:25):
Well, I've enjoyed working as a family very
much, whether it be with Wardor you or Wardy or whoever, and
advice I guess would be to justrespect each other and listen.
You know there may bedifferences of opinion on how
something should be handled, sothe best way to do it is you
(13:47):
know I believe in a united front, definitely.
You know the whole family kindof needs to present this front
and just be kind to one anothertoo.
Don't get upset, don't let yourtemper or whatever flare Well,
I've always said that sometimeswe have to forget our.
Trudy Eshleman (14:07):
We're always family first, but sometimes you
have to remember that we alsoare our work positions and
sometimes put the family asideand then other times we have to
put the family in front.
So I think it's just recognizingwhen those times are because,
um, sometimes it's we just haveto be our positions and we just
have to do our work.
And then, you know, other timesand it's funny, wardy and I one
(14:30):
thing that we talked about is Ihad a a hard time and I'm sure
you probably did too, but it'sdifferent.
But I'll ask it you know, wardis very different at work than
he was as a kid at home and Ithink, getting used to that and
I would say my children haveviewed me the same way You're
different at work than you areat home.
That was he the same at work asyou know, a CFO working with a
(14:55):
CEO when you worked together atthat level there's the ward at
work and the ward at home or washe a lot more similar?
I know as a parent, he'sdifferent at work than he was at
home.
Kristina Hebert (15:08):
You know, I think he's pretty much the same
at home and maybe we have theluxury of being able to talk
about things at home.
We're not sitting in an officeor not having to sit down to a
meeting or whatever like that.
So I think he's pretty muchsimilar and, having never worked
really for a business, this isreally the first business I've
ever worked for, other than theschool system, which is very
(15:31):
different.
I learned a lot from him and Ithink he learned a lot from his
dad.
He followed in his dad'sfootsteps a lot.
Who you know?
Just the customer, how tohandle customers.
I can honestly say he reallydoesn't lose his cool much.
No, I mean he doesn't.
(15:52):
He's pretty.
He wants to solve things asamicably and equitably as he can
.
I mean if there comes intosomething like that.
So I think I've learned a lotfrom him and I think he's about
the same at home.
Trudy Eshleman (16:07):
Well, any, any words of wisdom for the future,
any wishes or words of wisdom,or where you think we'll be.
Kristina Hebert (16:14):
For the future.
If I could have my wishesgranted, I would love for some
of our grandchildren to becomeinvolved in the company, and I'd
love to see it become still afamily business no pressure.
Trudy Eshleman (16:27):
In case any of you are listening, chase is part
of it.
Kristina Hebert (16:29):
Yes, chase is that's nice to see him involved
in it and he's starting from thebest part.
You know the counter and goingand then you just move up and
you have to learn all the parts.
Trudy Eshleman (16:40):
But I do have to say in defense, I was never
going to work for the familycompany and I think you guys
kept me from boat shows at a, atan age, because I don't
understand how I never knew thatthere were these crew positions
that I could have understand,how I never knew that there were
these crew positions that Icould have.
I mean, I would have learnedhow to cook at 16 years old and
jumped on board a yacht in fiveminutes.
So I don't know how you wereable to keep that from me, but I
(17:02):
was not going to be working forthe company.
And then you know, 28 yearslater, yes, look where I am, and
I wouldn't change a singleminute of it.
No, so you know there's,there's always still time.
You know I wouldn't change asingle minute of it.
So you know, there's alwaysstill time, you know, I think
kids just have to kind of gettheir education and find their
way.
But I agree.
Kristina Hebert (17:23):
I would like to see the company continue and
grow and you know careful growthand you know, just keep going
with the times and that's achallenge, but I think we have
the management and all to do it.
Trudy Eshleman (17:39):
Well, thank you for coming today.
Thank you, I appreciate it.
Thank you.
Welcome to the Wardsway Podcast.
Trudy Eshleman (00:29):
Well, welcome to the Wardsway Podcast Today.
I have this special guest withme today, trudy Eshelman, who is
our company's CFO, but also mymother.
So welcome, thank you.
And I thought it would be agreat idea, since we interviewed
Dad and Warty to find out howdid you get involved with the
company and when did you startwith Wards Marine Well, I
(00:53):
started in the mid-80s, I wouldguess, just as a part-time.
Kristina Hebert (00:57):
I was a teacher for 20 years, education,
English and guidance, and I knowwhen we started growing the
company we needed somebody tocover for vacations, for
accounting.
So that was my first experiencearound the mid-80s I couldn't
tell you what date and it wasvery foreign to me because this
is before computers and this is.
Trudy Eshleman (01:17):
General ledger books.
The big yellow books, ohgoodness, yes.
Kristina Hebert (01:20):
And everything was on a little pegboard, all
the customers and all the otherorders and everything like that.
So that was kind of a challenge.
And then shortly after that wedid go on the computer and I
believe you mentioned that andyou were in high school or
barely in high school.
Yeah, and that was that.
So that was my introduction andbut I was still working full
time as a teacher and thenfinally, in 1990, I believe it
(01:43):
was that's where we startedlooking for property for this
particular building that we'rein right now.
Yeah, and I was kind ofinstrumental in looking things
over and then somehow I stoppedthe teaching and I just became
involved in the company.
Ward wanted a catalog.
So our first catalog, I'llnever forget, was a big binder,
(02:05):
okay, and we had all thebrochures.
Trudy Eshleman (02:08):
Like with page protectors and stuff.
Kristina Hebert (02:09):
Yes, oh yeah, and we had one outside
salesperson, so he had onebinder.
It was one binder.
Trudy Eshleman (02:15):
We only had one binder.
Well, that was the catalog.
That was the catalog with onebinder.
Kristina Hebert (02:20):
Okay, so we've come a long way.
We have, we have, and then Iremember moving in after you
graduated from college.
That's when we shared thisparticular space.
Trudy Eshleman (02:30):
These were the new offices.
These were the executiveoffices.
This was ours right here, sure.
Kristina Hebert (02:36):
Yeah, 1993 or 4 was when we opened, I think you
came in 96.
And I just remember our firstcatalog because it was so
different, shall we say I had mylong yellow tablet page and I
would write all the informationand you had to put it into
PageMaker.
You kept saying you keepputting this paper longer and I
(02:57):
can't make it.
Trudy Eshleman (02:59):
Well, pagemaker, so it was.
It's an Adobe product and Iremember it took about what 27
floppy disks, if it gives us ourtiming to load the program.
But yes, we were planning onprinting an 8.5 by 11 normal
page size catalog and you wouldget these legal pads that would
be folded over on the bottom andjust well, it kind of looks
(03:19):
like it's 8.5 by 11, but therewas all this extra.
So, yeah, we would have to kindof rearrange and move and,
ironically, we're finishing acatalog right now, so it's and
it's.
Kristina Hebert (03:29):
It's that time, yes, and it's some.
Uh, this is we've come a longway.
And then after that I'm notcertain exactly when it happened
I believe it was pretty muchwhen we moved into 617 that ward
said he needed a CFO and heneeded somebody he could do all
the accounting system.
So I would be overseeing it,which I did, and I've learned a
(03:54):
lot.
I had no accounting background,but Ward was a very good
teacher too, and so it's justkind of taken off from there and
I've enjoyed it.
And now I'm kind of easing offthe other direction because it's
time to get close to retirement, but I'm still working remotely
(04:14):
and trying to get.
Trudy Eshleman (04:16):
So what else has changed?
What have you seen change withthe company?
Obviously, accounting toolshave changed since the 80s.
But I would say, what else haveyou noticed over the years?
Just, you know you traveled alot with Ward to various
seminars or to boat shows.
What have you noticed from thatperspective?
Just changes in the industryover the period of time.
Kristina Hebert (04:39):
Well, I think the computerization of
everything has definitelychanged a lot, I think, our
employees I can just see thegrowth.
Even when we moved into 617, Ithink we were probably maybe
half the size that we are today.
So I've seen a lot of growthand I've seen a lot of new
(05:00):
energy come in and all thedifferent things that we have
done.
I just think of our differentareas our engraving it used to
be one little office upstairshere and now we are.
We have six tables in there now.
Yes, sure, so that's grown alot.
Our inside service hasdefinitely grown a lot.
We've taken on a lot of biggerprojects with boat builders.
(05:23):
I mean, before we were I meanwe were always a repair, that's
how it started out with Granddad, I remember.
But we have just really grownwith the industry and a lot has
to do with the leadership andyou've grown it a lot more.
Trudy Eshleman (05:39):
Just, since you've taken over a lot of new.
Sure, hey, we're having apodcast.
Look at this, we're on apodcast, mom.
I mean, this doesn't get.
You know, we're pretty hip now.
Kristina Hebert (05:46):
Yeah, right, yes, definitely.
So I think we tried to keep upwith the times and I think we've
done a good job of it.
Trudy Eshleman (05:52):
So yeah, well, I definitely remember.
I know for me, and maybe youcan empathize with this too,
when I first started I was goingto go into law school and then
I was going to be a teacher orsomething else, and so this was
a part-time gig that I certainlywasn't going to stay at long,
and I think maybe you kind offelt the same way when you kind
(06:15):
of, and then it became.
I always say everything I neverknew, I always wanted, you know
, I got to work with all thedifferent departments and
immediately fell in love withthe company, so, and I wouldn't
trade it.
Kristina Hebert (06:27):
No, I wouldn't either.
It was.
It was a big leap to changefrom education to this to
private sector, and you know wethought we talked about a long
time and finally Ward says well,I really could use your help,
you know.
So I, I really have enjoyed thechallenge.
I mean sometimes it's not asmuch fun as it could be, but
(06:47):
most of the time.
I mean it's a learning curveand but I've enjoyed.
I'm more in the background, Iwould say I don't get to see as
many customers particularly, butI've gotten to know the
employees.
You know their accounts verywell, though.
I do know their accounts.
You know what they buy and howlong it takes them to pay.
Yes, I do, I'm the bad guy thatputs people on hold
occasionally, but for the mostpart, I think our customers are
(07:11):
great.
Oh, absolutely, and I can'tcomplain about it at all.
And we've been very fortunatethrough the years to acquire the
customers we have and thetalent we have working for us,
and I know that's something youand Ward talked about is it's
very hard to find nowadays?
Trudy Eshleman (07:26):
Sure, Any place you see the company growing that
you and Ward had talked about,that we never really actually
got around to it, or you guyswould like to see.
I asked Ward the same questionbut if there was a growth side
that you would like to see, Well, I think we're already seeing
(07:48):
we talked about we shouldn'tkeep it just so local.
Kristina Hebert (07:53):
You know we wanted to spread out across the
country and across all thenations.
Right now you're going to boatshows all over the world and
we're doing work for people allover the United States, at least
up and down the East Coastpretty much, and that was, I
think Ward always had in mind, acertain period of growth.
You know he took it very slowly, but I think you're continuing
(08:19):
that because you're spreading itout to the other countries.
I mean, and that's wonderfulthat people from around the
world know about us now, whereasbefore I think we were more
regional.
Trudy Eshleman (08:29):
Well, and I also feel like, in fairness, that's
one where technology and we'llget into technology but I think
technology made the world asmaller place so that, you know,
through Zoom, through Teams,through airfare, through
everything, we can just pop overto the other side of the world
in six, eight hours, probablyany day of the week, or we can
have a conference call, or wecan have a Zoom meeting with our
(08:50):
counterparts over there, and sowe're able to have these normal
conversations.
So now technology.
I know I've been speaking witha lot of guests about that as it
relates to what do you feelabout AI?
I've asked everybody thatquestion and so in some cases,
ai has been really helpful on amarketing side and, speaking
(09:12):
with people that do social media, they're really embracing it.
From a manufacturing side,being able to do some of the
calculations of manufacturingproducts, it seems like.
But I'm wondering, on thefinance side, as a CFO, do you
see AI being helpful ordangerous?
And there's no wrong answer.
Kristina Hebert (09:31):
Wow, I'm not certain I would want to turn
over the finances of the companyto AI.
Not yet, but that could be just.
Maybe I'm not aware enough.
I know they work on algorithmsand things like that, but I do
believe, customers, there's apersonal aspect to all of this
that AI can't realize.
It just doesn't know.
So I'm a little say, as far asaccounting right now, no, I'm
(09:56):
not quite ready to embrace it.
Well, and there's nothing wrongwith that.
Trudy Eshleman (09:59):
As far as accounting, right now, no, I'm
not quite ready to embrace it.
Well, and there's nothing wrongwith that.
I think I've been a bigproponent.
Sometimes we have to stay oldschool, so to speak, and we
talked about relationships.
We've talked about working withour clients, and sometimes how
do you keep those relationships?
It's not via email, it's notmailers.
It's picking up the phone, it'sseeing people at boat shows.
(10:19):
That's important, it's it'svisiting, it's going to their
business, it's shaking a hand.
So I think old school alsoapplies to finances.
You know, let's, let's, let'slook at the account, let's see
what they've been buying.
Let's let's evaluate if we needto raise, because we do a lot.
I don't know if a lot of peopleknow that we have a lot of
credit accounts too, which it'snot that we just take Visa,
(10:41):
mastercard, american Express orcash.
We provide 30-day term accountsyes, we do To a lot of
companies and a lot of othersuppliers that I mean a lot of
other contractors that we're asupplier to, and so you have to
help manage that and make surethat people stay within terms,
because we're the bank yes, yeah, we are we don't.
(11:02):
We don't usually charge ourfinance charges, so we tend to
write those off.
Usually 2025.
We're going to enforce them.
Okay, you heard it here, nowell, we try.
Kristina Hebert (11:11):
I mean, some of them are enforced and some
people pay them.
You know there's been someproblem as far as they didn't
get the bill, sure, but we dotry and pick up the phone.
I think that it does go a longway, and I think it does go a
long way, whether it be our,whether the salesperson or the
person who who me at times, orit does because they can.
(11:32):
They know they can call if theyhave a question too, and I
think that's one thing thatfrustrates me so much, when I'm
trying to get in touch with acompany and all I get is a phone
tree and it just dumps me intoa voicemail and you know, or you
sit on hold, and I think we arepretty people friendly, we try
to be, and I think that's alwaysbeen an asset, so I don't know.
(11:55):
But the 30-day accounts aregreat.
All they have to do is fill outa credit app, which is on our
website, and we just follow upwith it, and we've gotten a lot
of new customers because of that, with big projects.
Trudy Eshleman (12:07):
Well, and I think it helps the boat manage.
If it's a yacht managementcompany, it helps them manage
the project.
So it keeps their cash flowgoing too.
They can make monthly and Ialso think it helps other
contractors.
Like I said, if they're tryingto get a job, they can get a job
done, they can get paid, theycan be able to pay.
You know all businesses have acash flow.
(12:27):
I remember that being kind ofthe number one term.
I used to hear from you a lotand it is important your cash
flow to work on that as acompany.
That's how people get into, getinto trouble when you lose that
basic concept money in, moneyout.
Kristina Hebert (12:41):
Right, and that's always a balancing act.
I mean, that's something that Icheck every day to see the
income and the outgo and youknow I run the aging once a week
and things just to see ifpeople are in behind or if
there's something I have towrite off or whatever.
But yeah, it is very importantto keep the cash flow going.
Trudy Eshleman (13:04):
So how has it been with?
I know a lot of people I'll askyou the question, but a lot of
people have asked me aboutfamily.
I know that Ward and I havetalked about it a lot about a
family business.
Wardy and I talked about family.
I know that Ward and I havetalked about it a lot about a
family business.
Wardy and I talked about it.
How is it for you being part ofthe family and what is your
advice to give on a familybusiness to others?
Kristina Hebert (13:25):
Well, I've enjoyed working as a family very
much, whether it be with Wardor you or Wardy or whoever, and
advice I guess would be to justrespect each other and listen.
You know there may bedifferences of opinion on how
something should be handled, sothe best way to do it is you
(13:47):
know I believe in a united front, definitely.
You know the whole family kindof needs to present this front
and just be kind to one anothertoo.
Don't get upset, don't let yourtemper or whatever flare Well,
I've always said that sometimeswe have to forget our.
Trudy Eshleman (14:07):
We're always family first, but sometimes you
have to remember that we alsoare our work positions and
sometimes put the family asideand then other times we have to
put the family in front.
So I think it's just recognizingwhen those times are because,
um, sometimes it's we just haveto be our positions and we just
have to do our work.
And then, you know, other timesand it's funny, wardy and I one
(14:30):
thing that we talked about is Ihad a a hard time and I'm sure
you probably did too, but it'sdifferent.
But I'll ask it you know, wardis very different at work than
he was as a kid at home and Ithink, getting used to that and
I would say my children haveviewed me the same way You're
different at work than you areat home.
That was he the same at work asyou know, a CFO working with a
(14:55):
CEO when you worked together atthat level there's the ward at
work and the ward at home or washe a lot more similar?
I know as a parent, he'sdifferent at work than he was at
home.
Kristina Hebert (15:08):
You know, I think he's pretty much the same
at home and maybe we have theluxury of being able to talk
about things at home.
We're not sitting in an officeor not having to sit down to a
meeting or whatever like that.
So I think he's pretty muchsimilar and, having never worked
really for a business, this isreally the first business I've
ever worked for, other than theschool system, which is very
(15:31):
different.
I learned a lot from him and Ithink he learned a lot from his
dad.
He followed in his dad'sfootsteps a lot.
Who you know?
Just the customer, how tohandle customers.
I can honestly say he reallydoesn't lose his cool much.
No, I mean he doesn't.
(15:52):
He's pretty.
He wants to solve things asamicably and equitably as he can
.
I mean if there comes intosomething like that.
So I think I've learned a lotfrom him and I think he's about
the same at home.
Trudy Eshleman (16:07):
Well, any, any words of wisdom for the future,
any wishes or words of wisdom,or where you think we'll be.
Kristina Hebert (16:14):
For the future.
If I could have my wishesgranted, I would love for some
of our grandchildren to becomeinvolved in the company, and I'd
love to see it become still afamily business no pressure.
Trudy Eshleman (16:27):
In case any of you are listening, chase is part
of it.
Kristina Hebert (16:29):
Yes, chase is that's nice to see him involved
in it and he's starting from thebest part.
You know the counter and goingand then you just move up and
you have to learn all the parts.
Trudy Eshleman (16:40):
But I do have to say in defense, I was never
going to work for the familycompany and I think you guys
kept me from boat shows at a, atan age, because I don't
understand how I never knew thatthere were these crew positions
that I could have understand,how I never knew that there were
these crew positions that Icould have.
I mean, I would have learnedhow to cook at 16 years old and
jumped on board a yacht in fiveminutes.
So I don't know how you wereable to keep that from me, but I
(17:02):
was not going to be working forthe company.
And then you know, 28 yearslater, yes, look where I am, and
I wouldn't change a singleminute of it.
No, so you know there's,there's always still time.
You know I wouldn't change asingle minute of it.
So you know, there's alwaysstill time, you know, I think
kids just have to kind of gettheir education and find their
way.
But I agree.
Kristina Hebert (17:23):
I would like to see the company continue and
grow and you know careful growthand you know, just keep going
with the times and that's achallenge, but I think we have
the management and all to do it.
Trudy Eshleman (17:39):
Well, thank you for coming today.
Thank you, I appreciate it.
Thank you.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Ridiculous History
History is beautiful, brutal and, often, ridiculous. Join Ben Bowlin and Noel Brown as they dive into some of the weirdest stories from across the span of human civilization in Ridiculous History, a podcast by iHeartRadio.