What was the first job you had out of college? What was the most important lesson you learned there that has stuck with you for your entire professional career? I worked for Phillips Petroleum as a “Vanguard Manager” in charge of several retail operations in the Denver area. Providing great customer service was a very important element of the Phillips brand and I’ve adopted that as part of my everyday interactions with customers, clients, and professional associations.
What drew you to working with A Neumann and Associates (ANA)? I enjoyed a successful, 23-year career in the telecommunications industry and a long history of working in real estate, including owning my own brokerage company, but wasn’t ready to retire. ANA was growing and wanted to expand operations into Connecticut where my two adult children live. After exploring the opportunity we decided it was a great fit for both ANA and me.
What counties and states do you represent? I am the Managing Director for all of Connecticut and Springfield, Massachusetts.
What do you feel makes your region unique compared to others? There are many positives to doing business in CT – here are six reasons CT is a great place for businesses:
- Connecticut’s big name institutions are a big attraction for businesses looking to set up shop or relocate.
- Connecticut’s talented labor pool keeps employers globally competitive.
- Connecticut’s the kind of place where the living’s easy.
- Connecticut’s prime locale provides companies with a globally strategic location.
- A rich ecosystem of support for businesses has developed in Connecticut, providing easy access to capital to help both new and existing businesses grow.
- Bright ideas are nothing new to the Nutmeg State.
What do you find is the biggest challenge in Connecticut compared to other states? According to a recent CBIA survey, businesses in CT are facing some tough challenges, namely profitability and growth (31% of respondents); government regulations, mandates, and other policy decisions (21%); and the cost of doing business/taxes (20%). The biggest minuses to doing business in Connecticut are taxes, a poor business climate, and high business costs, generally. This means we, as business brokers, need to be involved at all levels of community and state policy decision-making.
What do you find is the biggest advantage working in Connecticut compared to others? The biggest plus to doing business here is location (proximity to customers, vendors, family, other businesses in the supply chain, and major metropolitan centers), followed by quality of life.
What do you think is the most underrated opportunity in the Connecticut Region? Given the challenges discussed earlier, Connecticut business could greatly benefit from our turn-around advisory services, in essence, putting a company onto “firm ground” first before considering a business transfer.
What is the most rewarding experience you’ve had working in the Connecticut/Massachusetts Region? I really enjoy meeting business executives and learning about their businesses and discovering how ANA can help them. I’ve found that once I’m in front of a business owner, we find lots of common ground and opportunities for mutual benefits.
Best advice for someone considering selling a business in Connecticut or buying a business in Connecticut? The obvious answer is to give us a call. We will work with business owners to develop the right exit strategy, determine at the right price and terms, and do so in the shortest amount of time possible. Same for buyers and investors – call us. We will help you find the business that is the best fit for you – one that meets your investment objectives and then work with you to successfully acquire that business.