Today we’d like to introduce you to Scott Woods.
Scott, we appreciate you taking the time to share your story with us today. Where does your story begin?
My career has had several catalytic events caused (or forced) a move. I had been a CFO/COO for over 20 years when my current employer asked me to commit a financial crime and when I refused, they fired me. I had worked there for 7 years and was their 2nd VP in 104 year history. I truly believed I would retire from this firm, but God had another idea. Despite a great resume and network, I struggled to find a new job. After sending out 1,200 resumes and countless online applications, I was at the end of my rope and threw my hands up. I remember the day vividly, as I stood in our bedroom looking at the ceiling (because as you know, that is where God is) and saying, I’m done. I am not sending out another resume. You said you would take care of me and wouldn’t leave me, so this is on you. After waiting a second to see if I was going to get hit by lightning, I just stopped all my efforts. As my wife and I were talking about what was next after 6 months of $0 coming in, we knew it would take some divine intervention. Two days later, I got a call saying “we saw your resume on CareerBuilder and would like you to come to Charlotte for an interview”. I drove 9.5 hours and had my interview and had the job by the time I got back to NJ. That was 2005.
Fast forward 10 years and I am the CFO of a management company in South Charlotte. I received a call from my sister in law that my younger brother was in the hospital experiencing chest pains. He was 30 at the time and had just started his own business. I took some time off and when to help him with his business and after recreating the infrastructure and advising him on a few leadership principals that had worked for me, his business started to thrive. As I was getting prepared to leave, he said to me “why aren’t you doing this full time? There are tons for business owners who feel they are in the middle of storm every day. You helped me see beyond the storm. You should do this every day.”
I had always dreamed of being my own boss, but honestly, I was too scared to make the leap. But this was another one of the catalytic events that catapulted me out of complacency and into the most exciting journey yet. My entrepreneurial journey started in 2016.
Today, I own Advocatus Consulting (advocatus is Latin for come to the aid of as a friend or helper) where I help business owners scale their profits and business value. I am also Partner in Silverback Ventures which seeks to amplify the voice and multiply the impact of purpose driven businesses. Within both organizations, the primary goal is to educate, enable and encourage owners to grow their businesses and impact in the community.
Can you talk to us a bit about the challenges and lessons you’ve learned along the way. Looking back would you say it’s been easy or smooth in retrospect?
Other than parenting, owning your own business is the scariest yet most exciting thing you can do. Part of that excitement (and fear) is the uncertainty that comes with it.
One of the biggest struggles is the balance between doing the work and finding the work. As a small professional services firm, we are totally invested in the success of the client. We become part of the team – it is no longer us and them but a we. The downside of that model is it leaves little time for business development.
The other challenge is being willing to turn away business if it isn’t a fit. This is especially hard when every dollar matters. Knowing your core values and being willing to turn away business if there is a mismatch of values is a key.
Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
As a consultant/strategic advisor, I have the privilege of working with amazing people in a wide variety of industries. I found very early on, every business is impacted by the 3Ps – people, process, and profitability. These issues are universal and industry agnostic. I and my team work very hard to be able to address these 3Ps for our clients.
What is most exciting is being able to work with businesses that are not only interested in profits BUT ALSO IN IMPACTING THEIR COMMUNITY. All businesses are created to address or solve a problem. Those companies that recognize this principal and emphasize purpose before profit are my favorite clients. If you chase after impact, the money will find you; however if you chase after money, you may miss out on leaving a lasting impact. Life is short. I don’t want to miss out on leaving a lasting impact.
What sets us apart – purpose and commitment. What starts as a project quickly becomes a partnership. We become part of the executive team to help our clients maximize and scale. We don’t advise and then walk away. We are implementers as well; providing solutions and helping those solutions become part of the company’s ecosystem. If your company recognizes the pathway to lasting change is living a life of purpose on purpose and using the vehicle of business to leave a lasting, positive impact in the community, let’s talk. As I said, our desire is to amplify the voice and multiply the impact of purpose driven businesses. Your business can change the world (no matter how small or how mired down in hierarchy). Let us help you do just that.
Are there any books, apps, podcasts or blogs that help you do your best?
Tools:
Remarkable – digital notebook has been a game changer for client meetings and focused planning
Mobilo Card – digital business card – tons of designs and you can update the content any time you want, and you no longer have to reprint every time you run out or rebrand or tweak a tag line
Books:
So many books have provided insight in my career, but there are a few I reference all the time:
7 Habits of Highly Affective People – Covey – older but an excellent roadmap for success
Start with Why – Sinek – game changer for those looking to scale their impact and for employee retention
Creativity Inc – Catmul – great book about leading creative teams from the CEO of Pixar
The Carpenter – Gordon – leadership allegory
Good to Great – Collins – a classic for a reason
Podcasts:
The Changemakers Collective – this is shameless plug for our podcast that focuses on helping impact businesses and entrepreneurs thrive
Contact Info:
- Website: www.advocatusconsulting.com or www.silverbackventures.org
- LinkedIn: https://www.linkedin.com/in/scott-woods-9689b21/
- Youtube: https://www.youtube.com/@SilverbackVentures
