Jackie Zach
September 8, 2024
In her interview on the podcast, Erin Ogden, managing partner at Ogden Glazer + Schaefer, shares her entrepreneurial journey and the insights she’s gained along the way. Erin discusses the gradual decision to start her business, emphasizing the importance of flexibility and client-focused innovation. She highlights how adapting to new technologies and managing employee expectations have been key to the firm’s growth. Erin also underscores the value of coaching and continuous learning, noting that having external perspectives and accountability has been crucial for her personal and professional development.
Erin’s firm specializes in intellectual property and mergers and acquisitions, focusing on businesses that value intangible assets like brands and recipes. She stresses the importance of planning for business continuity and succession, ensuring that the firm can thrive even in her absence. Erin’s ideal clients are those who recognize the significance of these intangible assets and seek to empower themselves through informed decision-making.
Learn how Erin got started, challenges she faced and how coaching has helped her take her business to the next level.
Want to learn the opportunities available in your business? Take advantage of a complimentary business strategy session to discover the opportunities in your business! https://actioncoachwi.com/podcast-ask-a-question-complimentary-session/
Podcast Transcript:
Jackie Zach: Welcome to the Tough Love for Business podcast. I’m Jackie Zach, and I’m here with my co-host, Mike McKay. We’re thrilled to have one of our favorite guests on the show today: Erin Ogden. Erin is the managing partner at Ogden Glazer + Schaefer and is also one of our clients. Erin, we’re excited to have you here. Your expertise spans intellectual property, copyright, mergers and acquisitions, and various business needs. If anyone needs an attorney, Ogden Glazer + Schaefer should be their first stop. Welcome, Erin. Thanks for joining us. Let’s dive right in.
Erin Ogden: Let’s do it.
Jackie: What inspired you to start your business?
Erin: Like many entrepreneurs, it wasn’t a sudden decision. It was a process of contemplation over several years. We debated the timing and eventually concluded that there was no perfect moment. My husband and I reviewed our goals and decided that the time was right. We set guidelines to evaluate our success and risks, and thankfully, after seven years, it’s been working well.
Jackie: What kind of life were you hoping to create, and what were your visions for the business?
Erin: We aimed for flexibility and responsiveness to client needs. Many of our clients, being innovative, were asking for remote video meetings well before they became common. We wanted to accommodate these needs while also enjoying the flexibility to work from anywhere. Additionally, dealing with authority issues personally, starting a business meant I could be my own boss.
Jackie: So, how has your vision evolved since you started?
Erin: Initially, we anticipated a small setup—just us and maybe an assistant. However, as we gained more clients, we expanded. Flexibility was key, and during our early months, I even worked from Japan. Now, with our growth, I have the choice to work remotely or not, which is invaluable because it prevents feeling trapped.
Jackie: What has been the most stressful part of this journey?
Erin: Hiring and managing people has been challenging. There’s always a concern about financial stability and meeting employees’ needs. We want to scale intelligently and maintain the quality of service for our long-term clients. Balancing growth with client satisfaction while ensuring we don’t rely solely on me has been stressful.
Mike McKay: What strategies have helped you navigate these challenges?
Erin: Good food and beer certainly help! More importantly, I’m good at asking questions, listening, and dealing with awkward situations. We’ve also hired coaches and joined mastermind groups for guidance. Having outside perspectives and accountability is crucial for implementation and overcoming blind spots.
Mike: It’s great that you leverage diverse experiences. We also benefit from being part of a global coaching network, which provides access to a wide range of business insights.
Erin: Exactly. I prefer to learn from others’ experiences rather than making all the mistakes myself. This approach helps me avoid common pitfalls and advance more effectively.
Mike: It’s impressive that you start with the end in mind. How did you decide to do this?
Erin: Our experience with mergers and acquisitions taught us the importance of planning for the future. Understanding what makes businesses valuable and what successful exits look like guided our approach. I also wanted to avoid the fate of some business owners who work until the end, as my mother’s early retirement experience showed me the value of planning ahead.
Jackie: What’s next for your firm?
Erin: Our goal is to ensure the business can thrive independently of us. We’re focusing on building systems and processes that will continue to serve our clients well, even when we’re not directly involved. We aim to create a firm that can function smoothly, regardless of who is at the helm.
Mike: I respect that you’re guiding your clients through this process too. It’s rare to see such foresight.
Erin: It’s essential to plan with the future in mind. Our experience with mergers has shown us the benefits of preparing for an exit, even if it’s not immediate. This foresight allows us to make informed decisions and set up our business for long-term success.
Jackie: What’s the biggest tough love you’ve received, and how has it impacted you?
Erin: I’ve always been self-motivated and found myself in leadership roles. However, I learned that managing people requires more than just leadership. I needed to adapt to managing people who are different from myself to build a successful firm. Understanding what my employees need, rather than just working with people like me, has been a crucial lesson.
Jackie: Who is your ideal client?
Erin: Our ideal clients are businesses that understand the value of intangibles—like a brewery’s recipes and brand. They recognize that their true worth is not just in physical assets but in the intangible elements that drive their success. These clients value innovation and growth, which aligns with our approach.
Jackie: How can clients benefit from working with you and your firm?
Erin: We help clients understand and protect their intangible assets while navigating complex legal decisions. Our goal is to empower them to make confident decisions and avoid legal pitfalls, ensuring that their business continues to thrive.
Jackie: Thank you so much, Erin. We’re grateful to have had you as our first guest and believe our audience will greatly benefit from your insights. Until next time.