October 1, 2008
Interview with Richard D. Smith
(First in Series of 5 Interviews)
New 'Wealth Creation' Plan for U.S.
(Follow-up to Plan to Create 2 Million New U.S. Jobs)
SUNNY: A solutions oriented voice we have grown to respect joins us from suburban, Washington, D.C., SMITH-TRG's CEO, Richard D. Smith. Richard you said, and I quote, "now is the time for America to do a business growth paradigm shift. A rethink of how it designs, finances, builds and grows market competitive U.S. based businesses."
RICHARD: That is correct. Sunny, there was a time, in our not to distant past, when American businesses were recognized globally as market leaders. Somehow, along the way, our competitive advantage across multiple industry sectors and market segments has been eroded. Given our current financial and business market dilemma we now have a choice. We can debate the cause of our past failings. Or, given today's environment, we can refocus on what it takes to be a highly competitive global market leader. My 'Wealth Creation' plan in many respects does that. It is 'future-world' focused.
SUNNY: Your plans mission is what then, to build a 21st century wealth-creation machine?
RICHARD: Yes. Like any machine -- a machine is comprised of its parts or components. The fully operational business machine I envision will have small to large enterprise component parts. These business parts will come from across our nation. The machines future value, as defined by economic contribution, will be driven by today's vision, leadership, best-of-breed innovation, strategy and results-driven executable tactics.
SUNNY: You have also said, and again I quote, "the 'Wealth Creation' plan can yield 2 million net new U.S. citizen jobs in twelve months". Given the nations existing credit liquidity crisis and overall market value decline of 20% to 25% is your original plan concept still viable?
RICHARD: Despite today's constantly changing market conditions I still believe 2 million jobs will be achievable. Obviously, the challenges we face are becoming more complex daily. However, this is a very important initiative. We need to do this to help America restore its global economic powerhouse position.
SUNNY: How do you plan on measuring success once this initiative is in place and scaling-up operational?
RICHARD: Under this 'Wealth Creation' plan everything we do will be profit driven. Every employee we hire will be well educated in the fundamentals of business -- we're all in this together, no revenues means no profits, no profits means no employees, customer satisfaction rules, taking and managing risks is rewarded, etc... Exceptional stewards of business is our intention. Constantly focused on delivering the highest value products to targeted end-user consumer. Our goal positive cash-flow -- self-fund growth when possible -- job creation with a career path emphasis. Bottom line, we're building a culture that respects and profitably services its customers both internal and external to the business.
SUNNY: You know what is so incredibly exciting and refreshing. Your passion. In your heart you believe in this project, its potential to help sustain our economic future. Interesting, very interesting. I've read about people like you, but I've never met someone like you.
RICHARD: Sunny, that is very kind of you. It's not just me, there are lots of Business Street and Main Street employed and unemployed people out there who share my passion for getting America back on track -- building businesses, delivering value, creating jobs and stimulating the economy. On their behalf, thank you for your complements.
SUNNY: Richard, don't worry I'm not going to hug you. Okay, it is time to get us back on topic. Richard, where do you start? What markets or industry segments do you go after? Who are your best candidates?
RICHARD: Basically, the candidate business field is wide open. Keep in mind, we're focused on net new job creation in segments typically labor -- skilled and knowledge worker -- intensive. So, hypothetically speaking -- this is only one of many potential examples --, a recently viable mid-sized company, $50 to $300 million in revenues, went into bankruptcy and laid off 500 people nation-wide. Should we get involved we would re-invent and re-position the company, bring out of bankruptcy and possibly re-hire 400 people. In this instance, the net gain would be 400 back into the U.S. based economy. Depending on company product or service offerings smaller and larger companies too would be candidates. Regardless of their financial situation, they must fit strategically into our view of a going forward marketplace.
SUNNY: Who would bring candidate at-risk business situations to your attention?
RICHARD: State Governors, City Mayors and/or their most senior Economic Development Officer or official. Any premature demise of a relatively large business or company division puts state and local government budgets at jeopardy. Other direct contact sources would be public company board chairman or major investor, business owners, and private equity firms.
SUNNY: Richard, this is very exciting and interesting stuff. I am incredibly pleased you agreed to share your activities with us on The SunnyIdiot Show. Unfortunately we are running out of time. Before you go, tell us what's going to be on the table in next weeks interview?
RICHARD: Next week, I'll briefly outline other at-risk targets of opportunity. Talk some more about why certain situations are attractive to us. Discuss strategic value to the country issues. If time allows, we'll start talking about 'Wealth Creation' funding options.
SUNNY: All right viewers -- Should you know of a business that is in jeopardy, might need to be part of 'Wealth Creation' plan, have owner e-mail, RDSmith@SMITH-TRG.com
|
|