The Business of Business - Two Daughters & Their Dad
What do an insurance agent/nonprofit volunteer, a salon owner, and a financial advisor have in common? Well, they are all part of an entrepreneurial family that wants to help others turn their passion into business. The Business of Business podcast was created by an entrepreneurial family Staci, Jennifer & Jack Dempsey, just two daughters and their dad. Each week the focus is on the Business of Business. No matter what business you are in, or want to be in, the business of business is the same. Listen in for tips, tricks, and strategies for turning your passion into your business. The Business of Business podcast is sponsored by: Dempsey, Weiss & Associates (www.dempseyweiss.com), J. Faith Hair Studio (www.faithhairstudio.com) and Flying High Agility & Dog Training (www.flyinghighagility.com) Look for new episodes twice a month.
The Business of Business - Two Daughters & Their Dad
Strengthening Community Ties: The Impact and Influence of Local Businesses
•Staci, Jennifer & Jack Dempsey•Season 5•Episode 4
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00:00 | 28:57
Imagine your local coffee shop or bookstore, now think about how much more than caffeine and novels they provide. In our latest heartwarming discussion, Jen from the neighborhood salon joins us to chat about the intricate tapestry of support and kinship local businesses weave into the fabric of our communities. We'll reflect on the profound ways in which our enterprises, far beyond offering services, serve as pillars of camaraderie and genuine havens for those who walk through our doors. This episode is a tribute to the unsung heroes of the high street, where every transaction is laced with the potential to fortify the bonds of our localities.
Stitching together a tapestry of trust with our clientele and community doesn't end with a handshake or a sale; it's an ongoing commitment to influence and invest that truly molds our shared experiences. We'll explore the symbiotic relationship between businesses and their patrons, how meaningful outreach initiatives can elevate more than just our bottom lines, and the ways we can foster a workplace culture that echoes these community-centric ideals. From financial advice that changes lives to community drives that warm hearts, join us as we celebrate the power of influence in business and the lasting impact of spreading kindness, not only to our neighbors but also to ourselves.
Jennifer Faith Dempsey has been in the beauty industry for over 10 years. For the last 5m years, she has owned J. Faith Hair Studio. She brings her experience on how she balances entrepreneurship and motherhood. Check out Jen’s blog.
Staci Joy Dempsey is an insurance agent, a mom, and a busy non-profit volunteer. She truly understands what it means to be an entrepreneur. Staci serves as the podcast's host.
Jack Dempsey is the dad who heads up this busy family. He is a founding partner in Dempsey, Weiss & Associates, an Elmer, NJ-based insurance and investment firm that began more than 30 years ago.
Hi everybody and welcome back to the Business of Business podcast. Two daughters and their dad. I'm your host, Stacey J Dempsey, and I am here, like always, thankfully, once again with the other daughter and the one and only dad. Good morning to the both of you.
Jennifer Dempsey:
Good morning.
Jack Dempsey:
Good morning everybody. I like that one. I'd always makes my day One and only, One and only.
Staci J. Dempsey:
One and only that's right.
Staci J. Dempsey:
So here we are, we are kicking off and hopefully all of our listeners have started planning for their 2024. If you have it, it's okay, but it's time to kick it into gear. So kind of with that in mind, we wanted to talk a little bit today about the influence that your business can have on the community. And obviously on this podcast we talk often enough about goals and setting goals and systems and things like that. But sometimes I can kind of get what can get lost in those goals is really what the influence, the power of the influence that your business can have in your local community. And before we hit record today, dad was sharing a lot of great examples and so with that said dad, why don't you kind of kick us off here on what you wanted to share today?
Jack Dempsey:
Well, again, as you mentioned, Stacey, I think that we talk so much about systems and we even talk why. What is your, why? Why are you in business? But one of the things I've been reflecting on lately for our business is, quite frankly, what is the impact of our business on the community? And I think it's a great question for our listeners who are entrepreneurs or who are thinking about becoming an entrepreneur to ask themselves and that would be how will my business, or how would this business that I'm thinking about, have, how can it have an impact in my community? And how will it have an impact in my community? Because I think one of the important things for us to remember I often say the commodity of the day is influence. The more that we can influence people in our community, people that we do business with our team, the better satisfaction we're going to have in running a growing and successful business. And so, again, I just think it's important for us to stop sometimes and reflect on what is my true value or impact in the community, and certainly one of those, at first and foremost, is just the economic benefit that you bring the community. I mean, depending upon your business, if you're renting space or if you're buying your location, again you are providing an economic impact by renting, by buying, there's the economic impact of the vendors that you need to work with, whether it's again having things done to your location work done, I mean, because of your business. You're utilizing other people's businesses in the course of your business, which again is providing them business, providing their employees opportunities. So the more small businesses we have out there, the more value and economic benefit it's bringing to the community.
Jack Dempsey:
And then on top of that, you look at the jobs you're providing. What type of jobs? If it's a business that is utilizing a much younger workforce, maybe high school, college, again you're providing jobs to that group that are looking for part-time jobs to help with whatever financial needs they may have in that season of life. And then you look at businesses like Jen, I mean, which again a much more professional. You've got to be education, there's got to be licensing, but again she's providing opportunities for people to come out and utilize their training and their skills and to become better.
Jack Dempsey:
And the same goes for our business. We have the need for a highly trained staff. So we're providing good compensation, good employee benefit packages to attract and retain good people, because that's what we need. So, again, just by the pure economic benefit that you're bringing to your community, on top of the taxes we have to pay in our communities and the things like that in order to do business. But again, obviously our communities need a tax base too in order to operate too. So we're investing in all these things by opening up and becoming a business owner and an entrepreneur. So I'll let Jen talk about how she feels like her business can provide impact, because she can speak to that. I have my thoughts, but she can speak to it better than me.
Jennifer Dempsey:
Yeah, well, a few different, a few different thoughts on this topic. I mean, you know, I love that we talked about that and I know that our listeners really love when we talk about goal setting and systems and Because, again, as businesses, it's hard to figure all that out. But you know, in the midst of the, I guess, day-to-day craziness of being an entrepreneur, I think it's important to hold fast on to what kind of impact that you do make. And when I open my salon for the longest time, I used to say we're the community hair salon, right, because it was important that you know I'm in the heart of this town and it was just so important to me to really be the hairstylist of this town and and just give back in different ways. But I Say that to say something I keep in mind every single day is, obviously I'm in the beauty industry, right? So I I see a ton of different people every single day and my goal, you know, when I'm standing behind the chair, is to help people feel better about themselves, feel better leaving. Then they did when they walked into my business. And that doesn't necessarily mean looks right. Obviously they're gonna have much better hair, of course, but you know my salon is such a safe place for people to come to relax, to recharge, to, you know, be able to talk to me about what's going on in their life, vent, and so that's something I hold so dear to me that I I'm able to build relationships with my clients, especially that trust me to spend time with me and to share their lives with me. I mean, gosh, guys have been through you know so many different Finding out about you know someone having cancer and shaving someone's head, and divorces and marriages and new babies, and I just I think that that is what I hold so Dear to me being a hairstylist is that I truly get to be a part of People's lives and learn different things from them, and it's something I don't take for granted. So that's one way that we, you know, make an impact in our community.
Jennifer Dempsey:
I know I've talked about this before. I think another way of being really intentional, right, because sometimes we don't think about this. This might be the first time one of our listeners are actually thinking about this in a way of like, how can I Make an impact? And so there's just so many different ways to be able to do that.
Jennifer Dempsey:
One thing that has been really important to me is Having this annual book bag drive in my salon and being intentional about making a difference.
Jennifer Dempsey:
And so I just am very proud of that fundraiser, that because of my salon, because of my business, because of my clients, my family, our employees, we've been able to make an impact in our community directly for kids that are less fortunate, especially around the school time, and so it's just things like that that I, you know again, it's it can be a lot being in business and focusing on numbers and Employment and hiring and firing, all the things we have to deal with.
Jennifer Dempsey:
So there's these like wonderful, wonderful moments that we can really be intentional about and make a strong impact and, again, just showing our community that our business is valued. And without us being here, some of these things wouldn't have been done. So I know, if it wasn't for my business, we wouldn't have been able to give 800 book bags away. So it's just something that is really, really Special to me and kind of keeps me going in those dark times where it's like you question yourself, right, because we all, we all have insecurities, even when we have businesses like, what is the impact I'm making? Okay, now I have, I have all these things, and so I, so that can be a very beautiful way being an entrepreneur, being intentional about making sure that you are making an impact in your community.
Jack Dempsey:
Well, that's great because, you know, I just love what you, how you describe that and you know especially. You know, I mean, I just picture, you know, like you said, it's not about so much of looking beautiful, which you know it but it's how people feel, you know, and when you come in and you have, you know, such a great experience. You know, in the salon, you know, like you said, where people feel safe, they feel like they can talk, they can just get away from, you know, the day to day, moment by moment, pressures of life. So they're not only walking out, you know, with beautiful hair, but they're walking out refreshed and with a renewed confidence, you know, in in for them, in their life and so, and then that spills over in other ways. That probably spills over into their work, that spills over into the home, you know, and those kind of things that you know. That influence goes even far beyond what we can see, you know. So I think that's just.
Jack Dempsey:
You know, I just really been thinking a lot about, you know, these two words that invest in influence. And you know how can I invest back into my community through my clients, how can I invest in it in order to have more quality influence in their lives. And so, you know, I think the key is is and like you just said, jen, you know you're investing back into the community through you know the, you know your bookbag drive. I mean, again that's that's investing back. And so people see that. And when you, when people see you investing back into the community, then you know, then it's easy or for them to say I want to do business there because again, I feel like I'm being invested into and so I want to, I want to give a return to that investment. And that's one of the things that I've often, you know, thought about over the years in my working with my clients. I don't want them to see me just as someone who sold them something. I want them to see me as a person who, it gives, provides influence in their lives, their businesses. And the way that I attempt to do that is by, you know, being knowledgeable and highly competent, so that when I'm having client interactions, you know I'm looking beyond just you know the transaction, I'm looking, you know what. How can I invest back into you, my client, and provide you value?
Jack Dempsey:
Because what I found is the more value you bring, then the more return that comes from that, the return in terms of now, all of a sudden, there is something that I need to say okay, well, you know, here's a vulnerability in your financial plan. Here's a you know, here's a vulnerability in your the protection in your business. You know, and here's what I would recommend you do, you know, to mitigate those things. Well, you know, their response most times is gonna be okay or yes. Why? Because I've been investing in them, I've been bringing value to them, and so now I've earned the right, you know, to ask them to.
Jack Dempsey:
Now, you know, do something you know to, you know, buy additional coverage or to invest in a certain particular investment program that I think would benefit with them. I've earned that right to do that because I've invested in them. And I think, if you know, if you can think about your business from that perspective, no matter what it is, you know it really doesn't matter, I can I don't think there's any business out there. You know that you cannot if you think about it, really come up with ways that you can. You know you can invest back and influence people's lives. I really don't think there is. So, again, but that's the key is how you know, how are we influencing our community?
Jennifer Dempsey:
Yeah, I love that. You said that it is about building trust number one with your clients. And obviously, dad, that's what you do and I say this you know, when I have a first time client inside my business, I always like to say, like you don't have to trust me, let me prove myself to you. But once I do, then I expect you to trust me, and so they always kind of laugh at that and like that. So, as you're talking, it's making me think.
Jennifer Dempsey:
You know, even the ways that we invest back into our peers in our professions too, is huge, and I know that you do that, dad, and I'll let you speak to that. But you know, obviously, over the years of being in my industry, it's about being you know, giving back to the beauty schools and being involved and giving tons of free education and giving hairstylists an opportunity to have a safe place to work, to grow. It's I'm in the middle of this huge change in my business and, you know, even gaining the trust of your employees to say you know what I'm gonna. I found a better way. I think this is a better way. This is a different way. I'm gonna push the envelope and I want you guys to trust me and come along with me.
Jennifer Dempsey:
But having that influence over your peers, people that are doing the same things that you're doing, having a voice and giving back to them and being a leader of your industry, of standing up and saying you know, how can I serve you, how can I help you, how can I make your journey a little bit easier and maybe that's just sharing your story on how you got from A to B, because people love to hear that right. So not only you know, not only our clients, but obviously at the peers of the professionals that we work with, how can you make an impact into the professionals in your industry? How can you give back in that way too?
Jack Dempsey:
Stay singing.
Staci J. Dempsey:
Yes, I'm still here, y'all are just vibing, I know. I'm just going along for the vibe ride. I'm just this is me vibing over here. Okay, right in the dad and daughter train.
Jack Dempsey:
There you go. I like it Well, and I think you know the other aspect of this, you know for I think it would be helpful for our listeners is that you know you know this also we've talked about this before the importance of your culture, and you know this is something that should really permeate through your culture. Meaning that and Jen, you know you spoke to it is, you know, not only should I be as the entrepreneur, should I be investing and influencing my community, you know, by how we do business and how we interact with our customers, our clients, but also it should be the same for how we, you know how we work with our team. You know asking ourselves how am I investing and influencing the people on my team? Because you know, if I'm doing that and they're seeing that that is part of the culture, then that will also start to come through them to the clients, and that's really what you're looking for. You're looking for that to be a cultural norm, not just something that comes from the person at the top but flows all the way down.
Jack Dempsey:
And you know, when your customers and your clients see that, everybody on the team is looking for ways to invest back in them and influence their lives in a positive way, then everything you know starts to flow better. I mean again because now your clients are going to be more, when customers are going to be far more likely to refer people to you or to say, hey, you know, if you're in the food business, oh you got to go. You know you got to go check this place out. You know the atmosphere is great, it's relaxing. You know the service is great, the food is good. You know the whole thing, you know. And so you know it has to flow through your people for it to ultimately impact the community to the extent your business can truly have that impact. So so again, it has to flow down through your people and in your culture.
Staci J. Dempsey:
Well, I got something to say. Can I talk now? Well, I gave you.
Jack Dempsey:
I gave you like a nanosecond a minute ago and you didn't take it, so you almost got skipped again. That's right.
Staci J. Dempsey:
Well, I wanted to throw in there. I concur with everything you guys have said. But but yeah, you know, obviously I agree with everything that you guys said and you know to your point, dad, you know, I know there's things here in our office now that you know being for years being led by example, for especially around the holidays, you know you and Dave, you know always wanted to try to make an impact in the community to some regards and now you know that kind of. You know the staff now kind of carries that out nowadays where you know obviously you and Dave are still contributing. But you know now we have, you know, teammates that kind of take the ball and run with. You know organizing, you know getting gifts for a family and adopting children to get gifts for, and all of that you know.
Staci J. Dempsey:
When you talk about culture, all of that now happens without the prompting of, you know, the top and that comes from you know. I just give this example because originally it was the top, organizing and kind of making decisions, but now it's more of an internal. This is what we, this is just what we do this time of year. Like there's no, hey, do you guys want to buy it? This is just what we do this time of year and thankfully, you know, one of our teammates just takes, takes it over, takes the ball, organizes it, sends the emails, collects, you know, collects the money, really does everything from start to finish as far as organizing and delegating and making sure that things arrive on time. But it's just now a part of what we do, and there's there's several things throughout the year where you know something like that happens because it's just, it's just what we do. So when you talk about it being a part of the culture, I just felt like that was probably. You know, at least here in our office, that's kind of our example, that you know, this time of year we do X, y and Z. There's no if, ands or buts about it, and so you know, I think that for a lot of businesses that want to kind of have that same model, you know, like you said, dad, taking it from the top, doing it by example, you know, and a lot of us in the office are part of different organizations when it comes to helping the community. Of course I'm a part of Meals on Wheels, but you know a lot of the things that dad and Jennifer have talked about today in my mind when I, when you guys are talking, I kind of see like the domino effect. You know, you push one domino and a whole chain of reactions start to happen. And so, you know, in my world, when it's Meals on Wheels, yes, we have a volunteer that goes ahead and delivers a meal.
Staci J. Dempsey:
But that's not the only impact. A lot of times, especially in the nonprofit world, we talk about the financial impact that a nonprofit can have on taxpayers, on, you know, tax benefits to businesses, and all of that is important. But the domino effect that really happens, the impact that actually happens, is that we have volunteers that are scheduling out and blocking out time, you know, to make sure that they deliver this meal, and not just deliver this meal but to have a, you know, a welfare check. They see someone that is most of the time they don't see anyone else that day, and so they're like are you okay, is there anything else you need? And not only does that client who's receiving that meal get a hot meal, but a lot of times that's the only nutrition that they're getting in that day, but their nutrition allows them to stay in the house, which then the domino effect is that there's family members that are thankful that someone's, that their loved one, is being checked on, because maybe they physically can't do that every day, maybe they live far away. I can't tell you how many. You know, especially this time of year, the families that write us emails and letters saying it makes me I rest a little bit easier at night. I know that my mom's being checked on because I live two states away and I can only come visit, you know, a few times a month. I can't be there every single day and mom gets to stay in her house and mom is so much happier because I don't have to put her in a nursing house.
Staci J. Dempsey:
So it's all of these dominoes, domino effects that yes, there's a financial aspect to that, but there's a whole domino effect, that it's all of these additional lives that are being impacted, you know, within our community and it's really. It's a, as Jennifer mentioned earlier, it can be a real motivator. You know, when your organization, nonprofit or for-profit, is kind of hitting a bump in the road, you know, and from my perspective, sometimes being on the board when you have to, when you're filtering through decision-making, it's like all right, well, we got to remember why we're doing this, so we're doing it for this effect in the community and we have to filter our decisions through that feeling sometimes, and sometimes that means you got to make more difficult decisions, but if there's a greater good involved, I think that's where the real, that's where the real motivation can come from to keep on doing what you're doing, because you know you're having that domino effect on a lot of people's lives and so so, yeah, that's what I have to say today.
Jack Dempsey:
Well, and yeah, I mean there's nothing in the nonprofit world and, like you said, with, like the organization, like Meals on Wheels, you know the impact that you know that these nonprofits have, you know, in the community. I mean that's why, obviously, in most, most areas, united Way and places like that that, will you know, provide funding. I mean those are just critical things for communities, you know to, you know to help, again, make sure that everybody is cared for in some way, shape or form, and so, but the nonprofit world is so important. But again, I mean I just think that as we started this podcast, you know, I would just encourage everybody, as we go into 2024, yes, think about your goals and make sure you have them written down, make sure you have your process is thought through and how you're going to, what you need to do every day to reach those goals.
Jack Dempsey:
Because, remember, you know we don't rise to our goals, we fall to our system. You know. So we can have the biggest goals in the world, but if we don't have a good system to get us there, we're only going to produce what our system will allow. And so I would just encourage everybody to add to that now what you know am I having you know an influence in my community through my business. If I am, how can I enhance that? If I'm not, or at least not really thought about it, you know what would be a way I could influence more in my community with my business, and I think that again, you start to really feel the power of entrepreneurship when you bring that into the equation.
Staci J. Dempsey:
Boom. Well said, Dad. Influences yes, influence is, I think, a lot of times. Influence is also what draws people to us and allows them to trust us on many different levels, especially when we're doing business. That, when they see that you're spending your time and effort to have a positive influence, even if it doesn't directly affect them, it's something that I feel at least a lot of people that we seem to do business with are like yeah, that's the person I want to have around me, because I can see that they're doing their best to have a positive influence, even if I'm not necessarily a part of that equation, and that can be what it's all about. So well, we hope that you guys have enjoyed this topic and we hope that you guys are investing and influencing and looking over those goals and getting ready to get to it. So until we see you guys, be kind to each other and be kind to yourself. Bye-bye.
