Mitten Money

Tri-Star Trust

Small businesses are the backbone of the American economy and, in fact, make up 99% of all businesses in the United States. Yet only 50% of them will survive their fifth year in business. Mitten Money host William Zank will focus on helping Michigan-based business owners find answers to the tough questions that will help them succeed. How do I expand my business? What options do I have for retirement? How do I move forward when I feel stuck? Having worked with small business owners throughout his career, William Zank of Tri-Star Trust uses his strong analytical skills to unearth answers to these questions and more on Mitten Money. Listen on Apple Podcasts, Spotify, Google Podcasts or Amazon read less
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Episodes

Meet the New CEO of Tri-Star Trust with Pavel Konecny
Jan 23 2024
Meet the New CEO of Tri-Star Trust with Pavel Konecny
Will interviews the president & CEO of Tri-Star, Pavel Konency, about himself and his new position. Pavel grew up in the Czech Republic where he was going to school for engineering. Pavel also played tennis and was learning English at the time, which ended up leading him to Northwood University in Midland, MI. He ended up going for Business Management while playing tennis for the school in 1992. Pavel originally didn’t have a plan to go into banking and finance, but he had a knack for numbers. He had a long career at Chemical Bank where the possibility of becoming CFO was tossed around. Some changes took place, and his path didn’t become as clear as it once was. The co-founders of Tri-Star eventually reached out to talk about a potential plan for him to lead within five years.As a leader, Pavel makes it a point to invest in younger employees. He claims a rewarding part of his job is to watch someone grow while sharing wisdom and knowledge and giving them opportunities. When looking for potential employees, Pavel looks for soft skills along with technical skills, which a lot of younger employees proved to have. While Tri-Star is growing, Pavel comments they made it a point to expand in areas that attract people to downtown development. With locations such as the Saginaw and Midland office, there is opportunity to grab lunch at a small sandwich place or shop at local boutiques. Pavel also helps make sure the office environment is somewhere employees want to be rather than working from home. In his new position, Pavel is looking forward to continuing community involvement, creating value, and investing in futures while teaching about financial health.Connect with Pavel here:https://www.tristartrust.com/
Building Bodies & Business with Anna Bebow, Soul Fit
Jan 9 2024
Building Bodies & Business with Anna Bebow, Soul Fit
Will had the opportunity to sit down with Anna Bebow, Owner of Soul Fit in Bay City. Anna not only opened up Soul Fit to connect people to each other and their mind and soul, but she also runs her own wedding photography business. Anna had opened up Soul Fit when she realized there wasn’t a lot of places that connect movement and the soul. Soul Fit is known to empower women through classes like Pilates, dance class, yoga and more, but is also available to men as well. Soul Fit is a studio rather than a gym, making the atmosphere more inviting with diffusers, low lights, and fewer equipment. The goal behind the studio is to make it more relaxing and not as intimidating as other fitness centers. Anna is open to trying new fitness trends in the studio. She recently added a dance class to Soul Fit, incorporating dance moves with core and lower-body exercises. The studio has plenty of instructors for all different classes to suit each client’s tastes. Because of this, she has been open to the idea of offering virtual classes. Anna says the best marketing for her businesses is word of mouth. Most clients come with their friends or family to Soul Fit after hearing about it from someone else. On top of word of mouth, Anna turns to social media such as Instagram to post Reels of different classes. Besides typical exercise classes, Soul Fit offers hiking trips outside of Bay City for those who want to connect more with other people and with nature. Anna hopes to continue these trips quarterly, one for each season!While Anna owns Soul Fit, she also manages her photography business. She recognizes that one person may not be able to do it all, such as running multiple businesses, so she learns and grows from her weaknesses. Putting trust in instructors that are passionate for Soul Fit has made balancing her other business much easier.Connect with Anna here:https://soulfitmi.com/https://creativegraceco.com/
Exploring International Markets with Tim Newburn, Brandes Investment Partners
Dec 12 2023
Exploring International Markets with Tim Newburn, Brandes Investment Partners
Will joins Tim, Director, Institutional Group at Brandes Investment Partners, to discuss his journey from northern Ontario to working for a Southern California-based firm, Brandes. He started his career in the early '90s in banking and retail advisory, transitioning to asset management. Tim joined Brandes when they sought to establish a Canadian subsidiary, attracted by their commitment to value investing and the opportunity to work with former colleagues.Tim explains that investors often exhibit a home bias, preferring to invest in familiar domestic companies. This bias is particularly evident in well-developed and diversified markets like the US, where investors feel more comfortable with companies they recognize, possibly due to personal connections or local presence. Tim warns against the drawbacks of home biases, emphasizing the need for diversification to mitigate concentration risk, underscoring the importance of international investing.Tim shares that people often seek active exposure to non-US securities. While some clients adopt a passive US approach, others blend it with active international strategies or even active US strategies to address concentration risk. There are various ways to build a portfolio and according to Tim, some popular biases are towards active management. For new investors, Tim touches on a few key points such as distinguishing between investing and speculation, delegating to professionals, taking a long-term view, and the power of compounding.You can reach Tim here:Brandes Investment Partners | WebsiteTim Newburn | LinkedIn
Work Harder & Smarter with Sharon Krumm, 4U, Inc.
Nov 21 2023
Work Harder & Smarter with Sharon Krumm, 4U, Inc.
Will had the opportunity to have a conversation with Sharon Krumm, President and Owner of 4U, Inc., a consulting firm. Sharon's journey began with a passion for math, leading her to pursue accounting in college. However, she discovered a broader interest in finance, especially during globe-trotting M&A deals.Throughout her career, Sharon navigated challenges. As a woman in predominantly male environments, she faced unique challenges but lived by the mantra of “work harder and smarter.” Sharon emphasizes the importance of early and honest identification of value drivers in mergers and acquisitions, highlighting the need for a strategic integration plan and a team focused on preserving those drivers. She points out the significance of cultural fit in retaining talent and achieving long-term success. Transitioning from her successful corporate career, Sharon started her consulting firm, inspired by an empowered accountability culture, aiming to create a similar environment in her own company.In solving complex business problems, her method involves a top-down and bottom-up approach, understanding strategic goals and learning from details. She highlights active listening to connect the dots and identify challenges, ensuring buy-in and trust. Sharon advises individuals to prioritize what truly matters to them and understand their genuine interests. Despite external pressures, the importance of aligning personal values with career decisions is crucial. For Sharon, her family always came first, guiding her choices. She encourages defining success individually, as there is no one-size-fits-all path.
Bonding Over Interest with Aimee Korch, Breckinridge Capital Advisors
Nov 7 2023
Bonding Over Interest with Aimee Korch, Breckinridge Capital Advisors
Aimee Korch, Director of Relationship Management at Breckinridge Capital Advisors, joins Will today to discuss fixed income.Aimee says fixed income is the “most interesting” area of work for her. According to Aimee, there are so many ways the financial system can create debt, which fuels the economy. There are a lot of conversations on stocks, but not fixed income, so it tends to not come to mind for most people. Public stocks also tend to be more straightforward, whereas bonds work more inversely. Individual bonds or bond mutual funds? Aimee says owning individual bonds is an interest to investors who have unique guidelines and want customizations. Mutual funds are more of “what you see is what you get.” Breckinridge invests in investment-grade bonds and doesn't venture into high-yield or junk bonds. High-yield bonds generally offer higher returns due to their riskier nature, as they have lower credit ratings and weaker balance sheets. This increased risk could lead to a higher chance of default. The suitability of high-yield bonds depends on an investor's risk tolerance and financial profile.The decision to invest in a single segment or multiple segments within fixed income is subjective and depends on the client's objectives and portfolio context. There's no one-size-fits-all answer. Generally, diversifying across multiple segments is beneficial as it spreads risk, but the choice ultimately depends on the client's specific goals and preferences.Find Aimee here:Breckinridge Capital Advisors | Website
Military, Muscle, and Making Moves with Matt Smith
Oct 17 2023
Military, Muscle, and Making Moves with Matt Smith
Today, Will sits down the Matt Smith, a jack of all trades. Matt has experience in the military, owning his own gym, and becoming a realtor. How did he decide to go from one thing to the next?Right out of high school, Matt knew college wasn’t the route he wanted to go on. He was drawn to the army, since his father and grandfather had served. Around his time in service circa 1993, he was deployed to Mogadishu, Somalia. In the army, he didn’t have the luxury of Facetiming family members. He had to write and receive letters. Matt reminisces on how different his time in the military was compared to today’s service members. Matt had always exercised through high school and found that this continued for him in the army. He transitioned from the military to joining the gym once his service was over and realized he loved interacting with other gym-goers. Matt eventually opened up Smitty’s Iron Works. His “internal drive” was to pave his own path, and this began with opening his own gym. Matt’s gym has merged with another organization and had taught them how he ran his personal training business. During this time, it solidified his love of working independently and opened the door for “What’s next?” Matt had always had a love for the outdoors and took classes for habitat development. In these classes, Matt learned people made a living by showing people hunting land, which led him to real estate. He currently owns and runs Matt Smith Outdoors, a small realty business. He utilizes social media to build his brand, everything from a home walkthrough to deciphering generators. Connect with Matt here:Matt Smith Outdoors | FacebookMatt Smith | LinkedIn
Behind the Curtain with Cameron Massey
Oct 3 2023
Behind the Curtain with Cameron Massey
Will had the opportunity to interview Cameron Massey, Executive Director of the Saginaw Bay Symphony Orchestra, before the beginning of their season! Cameron got started at the Saginaw Bay Symphony Orchestra after volunteering while running his own marketing firm. Eventually, his role at the Orchestra turned into a marketing position, and eventually Executive Director. He has always had an interest in instruments, as he plays piano, guitar, bass, and much more. But his passion lies on the stage.When a new season comes around, Cameron and his team take into consideration things their audience would want to see and hear. Whether you want to hear the same classical piece over and over again or want to experience a movie with live music, this season of the Saginaw Bay Symphony Orchestra has got you covered. They also take into consideration the Saginaw community and how to get them involved. The Saginaw Bay Symphony Orchestra is growing and growing. The goal is to always bring the most music possible to the area – this is one of the Symphony’s biggest budgets thus far. Cameron doesn’t consider other orchestras as competition. Instead, he thinks of them as all working together to keep classical music alive. The season begins October 7th and  includes numerous exciting programs that they haven’t done before. Connect with Cameron and the Symphony here:Saginaw Bay Symphony Orchestra | WebsiteSaginaw Bay Symphony Orchestra | Facebook
Scooping Success: The Business of Ice Cream in Michigan with Cream & Sugar, Love's, and Moomer's
Jul 18 2023
Scooping Success: The Business of Ice Cream in Michigan with Cream & Sugar, Love's, and Moomer's
Did you know July is National Ice Cream month? In this episode, Will sits down with three ice cream connoisseurs of Michigan to discuss how they make their business as sweet as can be.Tim Mangan of Michigan Cream & Sugar Ice Cream Company in Bay City discusses moving from creating menus at Horizons Conference Center to managing their new ice cream shop in the midst of the pandemic. Cream & Sugar is known for sourcing Michigan ingredients, ranging from sugar made by Michigan Sugar Company to carrots for a carrot cake flavor from Cherry Capital Foods in Traverse City. During Tim’s off-season, he spends his time crafting recipes for the upcoming season and training new staff. His secret to making his business so well-liked is keeping his staff happy, which in turn makes the guests happy. Cream & Sugar recently received a grant to open a second location in Old Town Saginaw!Chris McKellar of Love’s Ice Cream & Chocolate in Grand Rapids tells his tale of starting as a performer to e-commerce to finding a passion in cooking and recipe-development. When this “love” sparked, he sold his e-commerce company to a competitor and opened Love’s. It started small, but eventually became big enough to ship their products internationally. Love’s also offers gluten and dairy free options to reach a broader range of ice cream lovers. Jon Plummer of Moomer’s Homemade Ice Cream in Traverse City tells how Moomer’s operates an 80-acre dairy farm right next to their ice cream parlor - you can see the cows that potentially made the milk in your ice cream. Moomer’s likes to experiment with flavors and products, ranging from eggnog in July to asparagus ice cream (which didn’t get as much buzz as eggnog). Back in 2008, Good Morning America had a “Best Scoop Shop” competition in which Moomer’s was voted the best shop in the nation! They celebrated by inviting customers to come out for free ice cream early in the morning for the GMA taping!Connect with these sweet businesses here or by stopping in:Michigan Cream & Sugar Ice Cream CompanyLove's Ice Cream & ChocolateLove's Ice Cream & Chocolate | FacebookMoomer's Homemade Ice Cream
Mastering Resumes and Interview Strategies with Elizabeth (Lizzi) Hubble-Radosa, Assistant Director of Career Services, Saginaw Valley State University
Jun 6 2023
Mastering Resumes and Interview Strategies with Elizabeth (Lizzi) Hubble-Radosa, Assistant Director of Career Services, Saginaw Valley State University
In this episode, Lizzi shares her personal story of returning to Michigan and seeking opportunities for work. Lizzi reached out to her alma mater, Saginaw Valley State University, and eventually found herself working in their Career Services office. The Career Services office at SVSU goes beyond providing support solely during the college years; they offer lifelong services to alumni.Lizzi explains that the office has noticed an increase in alumni returning for assistance in tweaking their resumes and navigating career transitions, particularly in the wake of the COVID-19 pandemic. On a day-to-day basis, Lizzi engages with students, collaborating closely with faculty members to ensure that students have a job lined up when they walk across the graduation stage.When it comes to making a career switch or finding your first job, Career Services takes a comprehensive approach to help individuals explore their options. They administer a questionnaire consisting of over 200 questions designed to delve into an individual's interests and passions. Along with this, they partner with over 20 employers to gain insight about the do’s and don’ts of resumes and interviews. Lizzi highlights important tips to master your career skills, whether it be straight out of school or 15+ years into your career. With helpful insight from her time at Career Services, Lizzi hopes these tricks will be useful in your searching process.  Connect with Lizzi here:Elizabeth Hubble-Radosa | LinkedInSVSU Website
Navigating Personal Growth with Wendy Groll, Vice President of Operations & Certified Master Trainer, and Dan Handley, Regional President & CEO, Dale Carnegie Training of Mid-Northern Michigan
May 23 2023
Navigating Personal Growth with Wendy Groll, Vice President of Operations & Certified Master Trainer, and Dan Handley, Regional President & CEO, Dale Carnegie Training of Mid-Northern Michigan
On today’s episode, we sit down to chat with Wendy Groll and Dan Handley from Dale Carnegie Training of Mid-Northern Michigan. Wendy got her start in Dale Carnegie after emerging into a leadership role of her previous job, and Dan followed his family in the business after graduating college, working alongside his father. Dale Carnegie offers educational courses to enhance your leadership skills to use in the workplace and your personal life. Training at Dale Carnegie is very accessible, with over 9 million graduates to date. Many graduates of Dale Carnegie speak of their experience to others, which result in more graduates to come.The training Dale Carnegie offers is applicable to a multitude of people because of their commitment to growth. People’s ability to create change and opportunity drives training. In today’s world, growth is a skill that continually needs to be mastered. Most people’s calendar is spent convincing others to do things – friends, family, coworkers. Learning the “sales skills” Dale Carnegie provides helps create action. Dale Carnegie training is about the ability to connect and bounce around ideas and skills that someone may not utilize personally. Dale Carnegie provides live online training as well as face to face, which are both highly interactive. Every participant will leave with a specific action plan that resulted from various activities and lessons that will help add to their skillset. With every skill learned, it opens up the question of what else someone can learn.It is crucial to continue your education throughout your careers. If you aren’t growing, others around you are, and so are your competitors. Certain skills get you to an opportunity but growing them will keep you there. Today if you sit back, life will pass you by. Growth is fun! Connect with Wendy and Dan here:Dale Carnegie Training of Mid-Northern Michigan
Sharky Waters: The Story of ActionGlow with Founders Dakota and Garret Porter
Apr 11 2023
Sharky Waters: The Story of ActionGlow with Founders Dakota and Garret Porter
Dakota and Garret Porter started ActionGlow over 10 years ago. The idea began when they were snowboarding on a dark ski slope and had the idea to tink around with their gear to include LED lights. It originally didn’t start as a business venture until other boarders were interested in the product. The brothers built up inventory and sold out within 48 hours. Around this time is when Shark Tank producers reached out to have them apply to the show. ActionGlow at that point was too new, but they tried to get on the show on three separate occasions. Garret applied a fourth time without consulting Dakota, and the rest is history. On the show, the two needed something to break the ice, so cracking a few jokes was the route they decided to take. The pitch took about 45 minutes but boiled down to 8 minutes on TV. Since the show, the brand has been sold out. The Porter brothers added that having a Shark on their side “opens doors.” According to the brothers, it took about 2 years to actually come out with a product to withstand action sports. Action sport equipment tends to get roughened up; ActionGlow is 100% waterproof and can be submerged up to 10 meters. The LED lights were toughened up to not tear under pressure. Constant revisions of ActionGlow are always undergoing.Now, the boys are planning a bus tour as a “grassroots way of selling.” As for the future of ActionGlow, they are lasered in on the action sport market for now. Connect with Dakota and Garret here:Dakota Porter | LinkedInGarret Porter | LinkedInActionGlow WebsiteActionGlow Instagram