Staff Writer
Leerie Jenkins Jr. knows it’s tough to grow a business.
The chair and CEO of RS&H, also known as Reynolds, Smith & Hills, has ridden the highs and lows of business development.
He shared his experiences as chief executive of the facilities and infrastructure consulting firm with almost 40 second-stage business owners as part of the Jacksonville Regional Chamber of Commerce’s latest CEO Nexus Forum.
“I understand where you come from,” said Jenkins.
The quarterly forums bring together second-stage business owners with many of Northeast Florida’s most successful business leaders to garner advice on how to grow their own organizations.
Second-stage businesses are defined as established, homegrown busineses with about $1 million to $50 million in annual revenues and the desire and potential to grow.
Jenkins had a broad range of advice for the group, including the need for business owners to protect their personal and company integrity, to hire great – not mediocre – people and to deal with difficult people rapidly.
“They’ll suck the life out of you,” he warned.
But, above all, Jenkins had one piece of advice for the second stagers: pay attention to their cash.
“Cash is king,” he said.
Jenkins said he receives a cash report daily and the company “bills everyday” instead of on a standard monthly receivables process.
The business owners also heard from Jenkins about last November’s shooting by a former employee at RS&H’s Orlando offices that left one person dead and five injured.
Jenkins said it was a disturbing, random act that galvanized the company’s leadership team into crisis management.
Media management and response, said Jenkins, was handled well and additional security measures were put into place in all RS&H offices.
“You need to think about security,” he said. “You can’t think it won’t happen to you.”
Before Jenkins’ story and advice, the group heard words of encouragement in their efforts to grow.
“You are the job creators,” said Steve Quello, CEO Nexus founder and president. “You are what is going to grow the economy.”
While the recession is technically over, there will still be lingering difficulties for owners like those of second-stage businesses, said Candace Moody, WorkSource vice president.
“We do know the recovery is coming, (but) you’re going to be feeling the most pain when it gets better,” she said.
The pain, she said, will be due to employees who seek other employment once companies begin to grow again.
“But, there is a lot of talent out there,” she said.
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