Peer-to-Peer Coaching by FSBDC at UCF’s CEO XChange Empowers Transformational Business Decisions
April 17, 2019
FOR IMMEDIATE RELEASE
Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or firstname.lastname@example.org
Orlando, FL – Owning and running a small business isn’t easy. Certainly there are perks: you are your own boss, you reap the rewards of your work directly, you chart the course for your business and your future. But offsetting those benefits is the responsibility on your shoulders for your business, your customers, your employees and more. You have to make decisions, often with limited information and no one to advise you. It’s no wonder they say “it’s lonely at the top.”
Finding a solution to the feeling of isolation that can come with being a small business owner was the challenge that Phil Medina, President and owner of KeyCom Technologies, needed to pursue. It was within the Florida SBDC at UCF (FSBDC at UCF) and its CEO XChange program that he found the answers and support he had been seeking. CEO XChange is an executive roundtable program that offers a confidential setting for business leaders to discuss vital issues, opportunities and trends with a group of peers.
KeyCom Technologies is a full-service design, installation, and support organization for a wide spectrum of technologies tied to carrier services, phone systems, access control, surveillance, data networks, Wi-Fi, and infrastructure utilizing fiber optics in the ground and data cables in the walls. They have been particularly strong outfitting assisted living facilities, schools, and auto dealerships, but have worked in almost all environments. At the helm of a 35 year old, fast-moving technology firm having served 5,000+ business customers, Medina has a lot on his plate.
“Originally we were a pure telecom company, doing old-fashioned phone systems,” recalls Medina. “Over the years we began casting a much wider technology net, but back in 2008-9 when the world was falling apart economically, there were different decisions to be made that required more than just tech innovation.”
“I tried other CEO groups, names you’d recognize, but they were expensive and didn’t have what I wanted,” continued Medina. “Then I discovered the FSBDC’s CEO XChange. It’s a group of business leaders who’ve been there, done that. They provide feedback loops and insight into all kinds of skin-your-knee experiences without you having to go through them yourself.”
“Since we started with the CEO XChange almost 9 years ago, KeyCom is much healthier, much happier, and seeing consistent annual growth in the areas pursued,” Medina went on. “But that almost misses the point. Although we’ve seen solid top-line growth, the really big change is our business model. We’ve transitioned from a transactional sales model to a recurring revenue model. That required a full commitment to the long-game we feared undertaking, but we gained considerable courage by bouncing the plan off of my peer group at CEO XChange.”
“The CEO XChange is a safe environment with smart people who listen to your issues, offer you feedback, and leave you with action items you can execute,” concluded Medina. “It’s been a very, very good return on my investment in terms of time, money, and outcomes. Without the CEO XChange, it probably would have taken twice as long to implement this transition that has opened the door to a much brighter future for my company.”
For information about KeyCom Technologies, please visit www.keycom.net.
— FSBDC —
About the FSBDC at UCF
Hosted by the University of Central Florida (UCF), and with its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the Florida SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Partnership & Innovation and the Florida SBDC Network.
The Florida SBDC at UCF provides aspiring and existing small businesses with no-cost consulting, low-cost training, and access to business data and research resources. In addition to its core service offering, the Florida SBDC at UCF also offers specialized services to qualifying companies, including capital access, market growth, government contracting, international trade, business continuation, cybersecurity, disaster planning and recovery, and more. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.
In 2017, the FSBDC at UCF served over 2,450 entrepreneurs in Central Florida with consulting services, resulting in more than 5,600 jobs created, retained or saved; $623 million in sales growth; $23 million in capital formation; $32 million in government contract awards; and 71 new businesses started.
About the Florida SBDC Network
For over forty years, the Florida SBDC Network, the state’s principal provider of business assistance [Fl. Stat. 288.001], has nourished a statewide partnership between higher education and economic development to provide existing and emerging small and medium-sized business owners with management and knowledge resources that enable overall growth, increased profitability, and economic prosperity for Florida’s economy.
In 2017, Florida SBDCs have provided professional business consulting to 11,750 client businesses, resulting in more than 28,800 jobs impacted; $3.2 billion in sales generated; $145.6 million in government contracts acquired; $135.4 million in capital accessed; and 335 new businesses started.
A statewide network of over 40 offices, the Florida SBDC is funded in part by the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network, headquartered at the University of West Florida, is nationally accredited by the Association of SBDCs and is a 2016 recipient of the President’s E Award for Export Service. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for individuals with limited English proficiency. For more information, please visit www.FloridaSBDC.org.