Scott Kallick and I, are fortunate to be SOBs: Sons of Bosses! Although we never worked for our dads, his and mine—were business partners.

In 1962, Scott's dad Harvey and my dad Irv—when they were in their 30s—began a small accounting firm in Chicago, Blackman Kallick or BK. With their talent and leadership, BK grew. Significantly!

Once you got past the "Big Four"—(a quartet of giant accounting firms), BK became the 7th or 11th  overall—largest accounting, tax and consulting firm in Chicago. Inside Public Accounting consistently named Blackman Kallick for multiple years, as a Best of the Best firm.

In 2012, after 50 years of being an independent accounting firm, BK merged with Plante Moran. The combined firm, had revenue of $375 million.

This issue of The Results Report, personifies the old adage, "The apple(s) don't fall far from the tree(s)."

If you're a regular reader of The Results Report, you know the impact my dad had on my life and career. We were very close. He was the best mentor, a little boy or an adult son could ever have. We shared clients. Appeared as speakers on the same programs. Were contributing columnists to the same magazines and newspapers. And most important, played on the same softball team! Dad behind the plate, me at shortstop.

Scott's dad, was also a major influence on his life and achievements. Scott was an extremely successful entrepreneur. Now, he shares his wisdom and experience—as an investor, advisor, speaker and coach.

Whether you're beginning your career or are already a savvy business pro, Scott will share valuable lessons about life, business, clarity, choices, mistakes, failures, revenue and profits.

Jeff Blackman: How do you help business people challenge their mindsets.

Scott Kallick: I listen very carefully. It's important to be brutally honest with what I'm hearing and seeing, but still be respectful. I see what's really holding someone back, then reflect it back. I find a piece of what they're saying, focus on it, understand it, and get them to understand their self-limiting beliefs.

Then, we dig into their numbers. Many have never read their P&Ls. They don't know their gross or net margins. This is a turning-point, it gives folks new focus and perspective.

JB: What strategies help any individual or business grow and prosper?

SK: It begins with understanding one's long-term vision for their life and business. Without it, one is rudderless. In twenty-five years of running my business, I cut some corners, but always knew with clarity, what the end looked like.

JB: Tell us about your coin laundry business. How'd it happen and how'd it grow from 2,200 machines to 19,000? And swell in revenue from $500,000 to $12 million?

SK: My dad, who you knew since childhood, had a client in the route laundry business. He was, (still is), a brilliant businessman, who acquired a national laundry route. He got in a cash-flow situation and needed to free-up some equity to satisfy his lenders. He asked if I had interest in acquiring a small route. The plan, buy and operate it in Pittsburgh. Run it for five years, pay down borrowed debt ($750,000), sell it back to him, then move back home to Chicago.

I was 29, newly married, and never been to Pittsburgh. My then wife had experience in corporate training and management. I had sales experience.

It quickly struck me, I was a builder, and moved to acquire other routes about the same size as ours. This meant more debt, and extending my commitment to Pittsburgh.

Nine years later, my mom got cancer. It was time to sell the business and move back to Chicago, to spend time with mom. Multiple misses on selling the business, kept me in Pittsburgh. Then, after mom passed away in 2000, I recommitted myself to growing the company.

We became a target acquisition for the large national companies. Another "almost" sale, had me really drill-down on our P&L numbers, to get top-dollar when we'd sell.

Then, my wife and business partner—separated, and eventually divorced. Yet we still ran the business together. This became challenging and unsustainable.

Finally, the timing was right and we received a "too-good-to-pass" offer and sold.

JB: How many contracts have you signed? What are crucial tips to becoming a more effective negotiator?

SK: About 5,000! The reason I signed so many, is because initially, I was a flawed negotiator. The key to any sale or negotiation, is to be a good listener. Ask open-ended questions. Repeat back what you think you heard. This makes others feel important and keeps them engaged.

Next, be transparent with your desired goals, and ask the other party, for their expectations. If you plan to get a contract signed, say so. If they tell you they want to learn more—adjust your expectations and change the meeting's purpose.

Also, know it isn't about price. Unless you're a commodity and want to be commoditized. Let others know, you're not the low-cost provider. And if they're only looking for lowest-cost, you'll happily introduce them to others. This strategy, helps create your value. While also eliminating their initial perceived desire for low-cost.

JB: There are lots of ways to drive profits: pricing, upselling, cross-selling, re-selling, recurring income…where should one start?

SK: Great question! The starting point, is drilling into one's costs and pricing. Once a business-owner, leader or sales pro sees the big picture, it feeds their hunger to mold the company to clearly defined needs and expectations. When profits are understood, it's easier to focus on value, market dominance, key differentiators and how to best communicate them.

JB: What profit metrics must be understood by all; owner, sales person, team member, etc.?

SK: Some owners fear—opening their books to employees may generate envy, mistrust and misunderstanding. Yet, certain metrics-sharing, leads to team building. For instance, gift cards can be a profit center, since non-use is high. Setting gift cards goals and bonuses for these sales—can incent an entire team in a positive direction.

Furniture and appliance stores have been successful, by being transparent about landed costs of each item, and paying commissions on these sales. Setting comprehensive bonuses for profit-markers can be a powerful motivator.

JB: Your coaching clients say, you've helped them turn sleepless nights and anxiety—into ease and freedom. How'd you do it?

SK: It's important to have others understand their value: as a parent, child, employer, supplier and citizen. Help them understand the importance of their leadership and roles. Next, I help them get clarity around their vision and to take it seriously. Next, we get a clear picture of where they're at in their journey. If they're: losing money or not paying back loans or paying vendors' bills or working too many hours—what changes will they make?

I can't wave a magic wand. They must be ready for change and do the work. I'll only work with business leaders who want something better for themselves and others.

JB: What prevents individuals and teams from executing with excellence?

SK: We stand in our own way. Getting out of one's way, means focusing on others. Serving and caring deeply. We understand our value and others' value. Most employees don't leave a company, because of money. They leave because they don't feel understood, recognized and valued. Getting an organization, its leaders and people on the same page, creates the right culture—to create the right results.

JB: What's most important to clients, customers and prospects today?

SK: Nobody wants to feel "taken". Make your offer easy to understand, upfront. Have your onboarding process streamlined. Make sure when you send your proposal or contract, it's free of typos, plus all terms and conditions are correct. Communicate. Show concern. Answer all questions, to everyone's satisfaction. Be human!

JB: How did you handle mistakes or failures?

SK: I learned how human I was. Daily, I was doing or dealing with ten to twelve things at a time. I made lots of mistakes. So I hired an assistant and told her I was prone to error. I simply urged her to, "Clean up my mistakes." She did!

I took full responsibility and accountability for my mistakes. And I'd call my customers, if I made a mistake, before they discovered I did. I always tried to make it right for them.

Once, I transposed numbers on a state bid. It cost us a six-figure annual contract. My assistant typed them incorrectly. But I failed to thoroughly proofread the bid. My first inclination, fire her! Yet, I quickly realized, the real responsibility for the mistake, was mine! I learned to acknowledge a mistake and not make it again. And to forgive myself.

JB: What lessons did you learn from your dad?

SK: Wow! You saved the best question for last. Many, here's a start:

• Integrity: Dad operated with a high degree of honor and dealt in such a deeply truthful way. I've spent my life trying to emulate these traits.

• Urgency: Dad lived every day with intensity. He had incredible wanderlust and traveled to the far ends of the Earth—to understand people's differences and cultures. He got things done, because he saw life's fragility.

• Evolution: I remember walking into his office once and seeing a literal mountain of paperwork on his desk. He needed a shovel and dumpster to get rid of it! The next time I walked into his office, there wasn't one piece of paper on his desk. He kept it like that for the rest of his career and life.

• Starkness: Bud Grant, the great long-time head football coach of the Minnesota Vikings, had a "stranglehold on reality". The same could be said of dad. He recognized and accepted things as they were—to create a baseline for change.

• Humor: Because he had a unique perspective, he could laugh about things and find whimsy in almost everything.

• Curiosity: His sense of wonder was boundless. He'd question almost everything—from a desire to understand and learn more.

To help you better understand and learn more from Scott, please take a peek at his website: ScottKallick

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