Fund Proposal for COVID-19 Recovery

COVID-19 has created a health and economic environment unlike anything we have ever experienced. 
 
As the leadership of the mid-market, we are uniquely positioned with the knowledge and resources to ensure that our communities have jobs and a stable economy after this crisis is over. We need to join together to manage the challenges ahead.
 

What can we do?

As such, I am proposing that we set up a fund to help small and mid-market companies and their people get though COVID-19. I am envisioning a combination of the war bonds effort from World War II and the Farm Aid movement of the mid-80s to provide equity, debt, and/or convertible funding to small and mid-sized businesses.
 
We have had many discussions with business, academic, and government leaders.  CEO Connection member Scott Jackson, CEO of Global Impact, can set up the infrastructure for this project in a matter of days. Now it is time to act.
 
You do great things on your own … We can do even greater things together!

Can you help?

Join the Task Force

Share with your network

Share this announcment on your social media pages to spread the word about this proposal.

Announcement: A message about Coronavirus

A message from Kenneth Beck, CEO of CEOC

 

Like many of you, I have been closely monitoring the Coronavirus situation. The media coverage of the virus is creating fear and panic which is having a disproportionate and perhaps premature impact on businesses around the world.

Over the past several weeks, my team and I have been talking with CEO Connection members, government officials and industry experts regarding the potential impact of the Coronavirus on mid-market companies. We wanted to know how they are handling the situation and what we can do to help them – their response was been clear: help us gain access to insightful information and strategies, particularly from other mid-market CEOs to manage both the perceived and real challenges ahead.

As a result, we are taking a number of steps to support our members immediately.

To start, we are organizing small-group video meetings to create forums for CEOs to connect, share insights, and to strategize. Here’s an overview of this program:

  • Confidential, Small Group, Video Meetings. CEOC will convene a series of small, interactive, 60-minute video conference calls for our Premium members. Initially, we will host two sessions for eight CEOs each (CEOs only). This format will enable close, confidential conversation and meaningful dialogue. We will consider scaling this program to additional CEO members as well.
  • Focused Agenda. The agenda for each meeting will be focused on each CEO sharing what he/she is seeing and doing in four areas:
    • Individual Observations – Both in the U.S. and internationally (if applicable);
    • Financial/Business Impact – Impact to operations, supply chain and financials;
    • People strategy – Communication/morale/remote work strategies; and,
    • Forecast/Planning – Insights about what might happen next, ways to prepare, etc.
  • Facilitated Discussions – Joe Hart, CEO of Dale Carnegie and the Chair of our Talent Management Committee has agreed to co-facilitate these meetings. With 200 operations in 86 countries, Joe has been on the front lines of the Coronavirus situation with his team since the very beginning and can share first-hand insights and strategies.
  • Timing – The first two meetings will be on Thursday, March 12th at 3 pm Eastern and Monday, March 16th at 5:30 pm Eastern. If you are interested in participating, you can register by clicking here. We will take the first eight registrants for each meeting and then go to a waitlist.
  • Preparation – As preparation for these calls, here are two useful articles one from McKinsey and one from our very own George Bradt:

 

In addition to these small group meetings, CEOC is taking other steps to support our members:

 

  • Webinar – We will host a webinar for all Premium CEOC members on Monday, March 30th at 5:30 pm Eastern to review the types of strategies and insights from the small group meetings, as well as to discuss new developments. To register for that webinar, you can click on the link below.
  • Mid-Market Coronavirus Task Force – We are establishing a task force, which will: 1) Marshal the combined resources of the mid-market; 2) Share best practices; and 3) Implement any actions recommended by the membership. More to come on this shortly.
  • Mid-Market Coronavirus Hot Line – We will create a hotline for members who have specific issues they need to manage. More to come on this shortly.

 

Our country is at its best when faced with a common challenge. I have full faith that the government (both parties) and medical experts will put their differences aside and once again, as Americans have always done in the face of adversity, rise to the occasion to find a solution that will stop the spread of this disease.   In the meantime, we as the Mid-Market business community will join together to help each other manage the challenges ahead.

 

You do great things on your own … we can do even greater things together!

Access resources

We have compiled resources from our partners and members to aid businesses during this time.

Member and Partner Profile: Ollen Douglass

Ollen Douglass, Managing Director, Motley Fool Ventures Motley Fool Ventures is an early stage, technology-focused venture fund focused on Series A companies.Ollen Douglass, Managing Director, Motley Fool Ventures
Motley Fool Ventures is an early stage, technology-focused venture fund focused on Series A companies.

Motley Fool Ventures Logo

 

Prior to joining the Fund, Ollen was CFO of The Motley Fool Holdings, Inc. for 14 years. During that time, he was responsible for the overall financial health of The Fool and helped guide the company through periods of major growth, contraction, and market volatility. Ollen’s oversight duties included The Fool’s finance and accounting groups as well as legal, benefits, sales, business development, real estate, business intelligence, international and asset management. His financing experience spans the full spectrum from bank financing to venture financing. During Ollen’s management of the pilot program, Motley Venture Partners, he and the team compiled a portfolio of private companies that will be contributed to the Fund. Today, Ollen serves on the board of Eyrus, InHerSight, and Young Artists of America. He has been a recipient of the Motley Fool Founders’ award and Favorite Fool award. He was twice nominated for Greater Washington CFO of the Year and is a member of the 2019 class of Greater Washington Minority Business Leaders. Prior to joining The Fool, Ollen worked in mortgage banking, focusing on mortgage servicing, fair lending and risk management. He was also an auditor for KPMG and is a CPA (inactive). Ollen graduated from the University of Baltimore with a bachelor’s degree in accounting and lives in the Washington area with his wife and three sons.

CEOC: What recent success are you most proud of?
OD: I’m most proud of the launch of The Motley Fool’s inaugural venture fund. We made a conscious decision to turn the typical venture capital playbook upside down, and instead of courting large investments from a few institutions, we leveraged The Motley Fool community to raise relatively smaller amounts from a large number of retail investors. Launched in 2018, Motley Fool Ventures went on to raise $150 million from over 800 investors (or “Limited Partners”/”LPs”) in approximately eight months. The fund exceeded its $100M target by 50%, was over 80% larger than the median new fund in 2018, and was raised 40% faster than the average fund. We have LPs in 45 of 50 states and have close to 200 women LPs. Motley Fool Ventures is believed to be the largest debut fund ever that was led by an African American.

CEOC: What’s your motto?
OD: At The Motley Fool, we have six core values. The first five are the same for everyone: collaborative, innovative, fun, honest, and competitive. The last is “Motley,” and each employee is encouraged to choose their own as a way to personalize the core values. Mine is “purpose and profit.” I am energized by seeking to do good and do well, without compromising either.

CEOC: How do you keep your company in front of trends, customer needs, and your competitors?
OD: Motley Fool Ventures is a strong believer in community and interacts with our customers through regular digital communications, surveys, and live events. With a stakeholder approach, we focus on collaboration and building win-win relationships with our customers, employees, business partners, and shareholders. That approach exposes us to a wide spectrum of priorities and perspectives. We believe there is room for many in our space, which diffuses the need to focus on companies as competitors—there can be many winners.

CEOC: Is M&A part of your innovation plan?
OD: As a new and lean organization, Motley Fool Ventures is very open to an objective view on build versus buy decisions. We are more likely to acquire technologies to accelerate growth than to acquire fund assets. One of the many benefits of operating in the startup world is being surrounded by innovation, which makes the difficult seem doable and the “never been done” feel like the next logical step.

Join CEOs like Ollen at the 2020 Convention to discuss this and other pressing topics. 

Announcement: CEOC M&A Connection Network

Announcement: CEOC M&A Connection Network

Each step of the M&A process (planning, sourcing, assessing, and structuring to post acquisition operational and cultural integration) is complicated and requires expertise and resources that are not necessarily readily available. CEOC is in a unique position to connect its members to a vetted deal flow and pre-approved unique resources that they can not get on their own. 

One of the top actionable ideas that came out of the 2019 Mid-Market Convention was for CEOC to provide a matchmaking service for companies looking to expand through partnerships and acquisitions.

As a result, CEOC is proud to announce the creation of the:

 

CEOC M&A Connection Network

CEO Connection is in a unique position to connect our members on both sides of the M&A equation. With a hand selected group of resources focused on creating the best transaction, CEOC is here for each step in the process.

Buying or selling a company? Use our network of world-class, fully vetted resources to create the perfect deal. We have developed a complete full-cycle acquisition process for those looking to acquire a company – from initial deal evaluation, to funding the deal, through operational and cultural integration:

  • Curated Connecting
  • Assessing
  • Structuring
  • Funding
  • Integrating

Getting started is easy. Simply schedule a call today – buyorsell@ceoconnection.com or 800.244.4719 and we can discuss your action plan and how the M&A Connection Network can assist you. 

Member Highlight: Scott Jackson

“Every child—whether in the United States or in less developed countries—deserves to have a fighting chance in life. You have the choice to live your life in a way that will change another person’s life for the better … and maybe transform yours own along the way.”

Excerpt from Take Me with You, a book written by Scott Jackson

Scott Jackson's Book - Take me With You

In 2017, Scott Jackson, President and Chief Executive Officer of Global Impact, wrote Take Me with You as a call to action to help those in need, especially children. And nobody knows more about helping others than Jackson, whose personal philosophy involves living life in a way that improves the lives of others. 

 

“My purpose in writing the book and sharing my story was to hopefully inspire people to find the charity within, and to recognize the difference they can make in other people’s lives,” explains Jackson. “There are so many people in need around the world and so many wonderful organizations working tirelessly to improve conditions and contribute toward achieving the Sustainable Development Goals. I hope this book brings additional visibility to some of those organizations and is a call to action to everyone who reads it.”

And developing calls to action are what Jackson does best. 

A leader in global philanthropy, he is well known for his vision, leadership and compassion for others. At Global Impact, Jackson oversees all facets of the organization, which has raised more than $2 billion since inception to help the world’s most vulnerable and needy. 

A global development, fundraising and marketing veteran, Jackson has held leadership positions in the public, private and nonprofit sectors, including the global health and development nonprofits PATH and World Vision.

With Jackson’s personal background and professional expertise, it was no surprise that he delivered the 2019 Mid-Market Convention session Social Impact. 

In this session, he discussed the CEOC Wharton Social Impact (CSI) student-consulting program, which helps mid-market companies incorporate social impact programs into their corporate strategy. In addition, he shared valuable information on the best ways to combine innovation and scale in your CSI program, as well as how to successfully integrate social impact into your business strategy and measure the power of CSI activities.

For Jackson, helping others realize their full potential and contributing to a better, safer world is crucial:

“My goal is to offer a message of hope and encourage others to embark on their own journey to serve others and spark positive change – in whatever way they can – because every life matters and there are so many in need around the globe.”

Join CEOs like Scott at the 2020 Convention to discuss this and other pressing topics.