We were lucky to catch up with Dr. Burgundi Herring recently and have shared our conversation below.

Hi Dr. Herring, thanks for joining us today. Was there a defining moment in your professional career? A moment that changed the trajectory of your career?

Absolutely, there was a pivotal moment that shaped the trajectory of my career. During a holiday season, my job at the time had a policy where you could only choose which holiday to take off every other year. It was a stark reminder of how little control I had over my time. Another significant instance was when my younger son had a special event at school, and I realized I couldn’t attend because my job wouldn’t grant me the time off. Telling him I couldn’t be there was tough, but it also made me reflect deeply on the kind of life I wanted to live.

That was the moment I decided to take a leap of faith and embark on my entrepreneurial journey. I wanted to build a career that not only brought professional fulfillment but also gave me the flexibility to be present. This experience taught me the crucial importance of aligning my work with my personal values and priorities. It was about creating a balance that allowed for both career success and precious family moments.

Starting my own business has been one of the best decisions I’ve ever made. It has given me the freedom to live a life that truly reflects who I am. It’s a journey I’m incredibly grateful for every day, and it serves as a powerful reminder that sometimes the most challenging moments can lead to the most rewarding opportunities.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.

Thank you for asking! I’m excited to share a bit about my journey and the work I do. I’m a Registered Nurse by trade, and I come from a family of true entrepreneurs, which has greatly influenced my career path. Over the years, I’ve been fortunate to establish multiple successful businesses, including an allied health training school, a healthcare staffing agency, consulting firms, and real estate investment companies.

The anchor of my entrepreneurial ventures is Focal Point Medical Staffing, which I founded to address a critical need in the healthcare industry. We provide healthcare facilities, such as hospitals and nursing homes, with qualified nurses to ensure they are adequately staffed. This industry can be challenging, especially as an African American woman in a space largely dominated by Caucasian males. However, I thoroughly researched the existing pain points for clients working with other staffing agencies and developed a plan to offer effective solutions.

In all my ventures, whether in healthcare, consulting, or real estate, my core philosophy is to identify the problem or “pain point” and create a solution. This approach has been central to my success. Recently, I launched Chadas Consulting, a company close to my heart. This firm helps others find their passion and launch their dreams, providing guidance and support along the way. We’ve recently launched the 5-3-1 Workbook, which follows the methods I’ve used to launch several high-yielding businesses. This was a very exciting project to undertake, as it gives aspiring entrepreneurs the initial guidance to launch their very own successful business.

What sets me apart from others is my ability to balance professionalism with authenticity. I don’t take myself too seriously and know when to switch gears from being a business leader to enjoying life and wearing my “Burgundi hat.” It’s important to me to enjoy the journey and not just chase money or goals.

Overall, I’m proud of the positive impact my businesses have had and continue to have on our clients and the communities we serve. My goal is always to bring value and solutions, helping others achieve their dreams and thrive.

We often hear about learning lessons – but just as important is unlearning lessons. Have you ever had to unlearn a lesson?

One of the most important lessons I’ve had to unlearn is taking everything personally in business. In the beginning, I found myself getting caught up in the emotions of situations, especially when people were upset or speaking aggressively. I used to feel like their frustrations were directed at me personally. However, I realized that in most cases, their frustration had little to do with me and everything to do with the situation at hand. I was simply the placeholder for their emotions at that moment.

This understanding has been crucial for my growth and success. It ties back to a principle I often share with my colleagues and team: the “60-second rule.” You have 60 seconds to process and feel any emotions related to business. After that, it’s time to move on and focus on the solution. As my late father, Billie Herring, wisely said, “A warm heart is a broken pocket.” This means that if you get too emotional and take things personally in business, you’re more likely to make poor decisions and miss out on opportunities.

Learning to maintain this perspective has allowed me to navigate challenging situations with a clear head and a focus on finding solutions. It’s an essential mindset shift that I believe is key to achieving long-term success in any business.

Conversations about M&A are often focused on multibillion dollar transactions – but M&A can be an important part of a small or medium business owner’s journey. We’d love to hear about your experience with selling businesses.

Yes, I sold a business back in 2018. Reflecting on that experience, I have several insights that might be useful for entrepreneurs considering selling their businesses.

First and foremost, it’s crucial to get a professional valuation of your business. This gives you a realistic expectation of its market value and ensures you don’t undersell your company. A proper valuation takes into account various factors, including financial performance, market conditions, and growth potential, providing a clear picture of what your business is worth.

Another key point is to ensure that the buyer is knowledgeable about the industry or has access to the necessary resources to continue running the business successfully. Unfortunately, I didn’t follow my own advice in this regard. I sold my business to someone who lacked the qualifications and understanding of the operations. As a result, the business, which had been thriving, faced challenges and even negative publicity under the new ownership.

It’s also vital to sell your business when it’s performing well, rather than when it’s trending down. A thriving business is much more attractive to buyers and allows you to command a better price. Additionally, it’s easier to demonstrate profitability and potential for growth when the business is on an upward trajectory. Selling during a downturn can make it challenging to convince potential buyers of the business’s value, especially if there’s no clear end in sight to the decline.

Contact Info:

• Website: https://www.chadasconsulting.com
• Instagram: bk_the_ceo
• Linkedin: https://www.linkedin.com/in/burgundi-herring