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Creating connections is essential to building a community. It’s even more important when the people you’re trying to connect with aren’t in the same location. Businesses and companies have always found geographic distance to be a challenge to building a really great community-oriented culture. At Empowered Ventures, the same challenge holds true, which is why we decided to start Empowered Owners, the podcast that takes you inside Empowered Ventures.
In each episode, CEO Chris Fredericks will have a discussion with one of our employees to discover and highlight their distinct personalities, perspectives, and skills while also keeping you in the loop with exclusive news, updates on company performance, and a glimpse into the future plans of Empowered Ventures. Not only is this an opportunity for Chris to learn more about our amazing employee-owners, but it’s also an opportunity for you to hear regularly from Chris and others from within Empowered Ventures.
00;00;00;11 - 00;00;24;22
Chris Fredericks
Hello everybody, and welcome to another episode of Empowered Owners, the community Building Podcast by and for the employee owners of Empowered Ventures. Join us as we take you inside the world of employee ownership, discovering the stories, insights, and sometimes surprising adventures in a family of businesses where everyone's an owner. Now let's dive in. Ted Callahan, welcome back to Empowered Owners.
00;00;24;25 - 00;00;26;12
Tad Calahan
Yeah. Thanks, Chris. Thanks for having me.
00;00;26;14 - 00;00;42;08
Chris Fredericks
Yeah. Always fun. We are pretty much doing that annual every every year. We kind of check back and see how things are going at TVF. I'm so appreciate you joining again this year. Why don't you just start off with a little bit of, overview? Just how have things gone for TVF in this past year or so?
00;00;42;11 - 00;01;02;20
Tad Calahan
Yeah, yeah. Thanks, Chris. Good question. The last year has been positive. We made some good progress internally in how we're improving the business. And obviously tariffs have been a big story. So also some headwinds and some challenges that we've had to work through in terms of the tariff situation. But as a business as a whole we've made good strides and a lot of different areas.
00;01;02;20 - 00;01;07;26
Tad Calahan
So all in all was a good year of progress. And, and helping us move forward as a business.
00;01;07;29 - 00;01;13;08
Chris Fredericks
Yeah. What you what types of things did TVF work on over this past year?
00;01;13;11 - 00;01;32;12
Tad Calahan
Yeah, a lot of it had to do around evolving and maturing our systems, our data, our process. Really, we're focused on how to be more scalable as an organization, how to serve our customer more efficiently, more effectively, and a way to to add more value and, and really try to build a partnership with our customers. So that's a lot of the work that we've done.
00;01;32;12 - 00;01;47;06
Tad Calahan
And going back to the early part of the the year, last year, we did a lot around kind of refreshing our core values, thinking more about the purpose of TVF, why do we do what we do? And a lot of that came out of wanting to be a trusted partner to our customer. How do we help be an extension of their business?
00;01;47;06 - 00;01;57;29
Tad Calahan
Those kinds of things that have really helped create that, I guess North Star, that directional on why we're doing what we're doing and the things we're trying to do to make the business better, to to serve our customer to the best of our ability.
00;01;58;01 - 00;02;11;28
Chris Fredericks
Yeah, that makes a lot of sense. I think last year we talked about, you know, TVs in the middle of like embracing some new systems like CRM and stuff, and that that effort would continue, you know, probably long into the future. How's that going at this point for TVF?
00;02;12;00 - 00;02;28;20
Tad Calahan
Yeah, it's going well over the last year. A lot of that progress I just spoke of has been around our systems, especially our CRM being a new thing for us. And it is something that I think historically businesses can't be challenged with. So yeah, we're going through a lot of that, those same growing pains and I think a lot of other companies experience.
00;02;28;22 - 00;02;47;06
Tad Calahan
But we've done well in terms of a team coming together, seeking to understand each other and focusing on like the outcomes, the what are the things we're trying to accomplish. How we do those things may have to change. We may have to adapt and do hard things, but ultimately ensuring that we're all aligned on the outcomes that we're after and then working as a team to get there.
00;02;47;06 - 00;03;09;23
Tad Calahan
And and we've done a lot of work around data visibility, system maturity because CRM is a new a new system for us. And so building those new habits and disciplines has been a little bit of a stretch for the team. And, for us as a business. But I think it's been a good way to stretch the organization and make sure that we're evolving and focusing on the right things to make the business better so we can serve our customer more optimally.
00;03;09;25 - 00;03;20;12
Chris Fredericks
Yeah. That's awesome. You mentioned tariffs earlier for those that maybe everyone's heard the word tariffs. But like how how has the tariff situation impacted TVF this past year.
00;03;20;14 - 00;03;41;22
Tad Calahan
Yeah its impact is to a quite a great deal. We do import a fair amount of our product from across the globe. And so, you know, with all of the the changes in one day, it's one thing, one day it's the next. And trying to navigate that one to manage our own costs so we can get clear on that, but also how we communicate that to the customer.
00;03;41;24 - 00;04;01;12
Tad Calahan
How do we stay true to what we want to be to our customer, which is that trusted partner? And so managing that, communicating as clearly and as confidently as we can. And then of course, things change and evolve. And then you got to kind of reset your expectations and reset our approach and kind of go to that whole flywheel again, as things have have evolved.
00;04;01;14 - 00;04;18;13
Tad Calahan
But we're all dealing with it across the whole industry. And so it's been something that we're all in together and just trying to do the best we can to manage it for ourselves and and negotiate what that means in terms of the impact for TVF. But also how we manage, you know, pricing and how we manage those relationships with our customer.
00;04;18;15 - 00;04;41;04
Tad Calahan
It's not been easy, especially for a lot of our team. Obviously, we dealt with tariffs when in 2018 ish timeframe, I think it was, but not nearly to the extent that the last year has created for us. So it's been a challenge. But with for me, for every challenge that you incur, there's always opportunity. And I think that's ultimately how I'm trying to help the team see this as an opportunity for us to understand how we can make the business better.
00;04;41;07 - 00;04;56;21
Tad Calahan
So when these kinds of shifts and changes happen, we can respond to them and adapt. And the way that we can to be agile and try to do the best thing for not only us but for our customer, because when these things do happen, they reach out to us and want to know how are we addressing? How are we dealing with a, which can't?
00;04;56;26 - 00;05;19;01
Tad Calahan
Sometimes it's easy and straightforward, but a lot of times, with as much changes, there has become with the different tariff rates, different countries, it's been really hard to navigate. But I've been really proud of our team and the experts we have on our team that really have stayed super close to this and helped advise everyone across the company on what we're doing, how we're doing it, the trade offs, all of the nitty gritty stuff.
00;05;19;03 - 00;05;26;09
Tad Calahan
So we've we've navigated it actually pretty well relative to what impact it could have on our business and our customer.
00;05;26;12 - 00;05;50;27
Chris Fredericks
Yeah. That's awesome. And I think, you know, it's in the news currently that maybe the tariffs might they've been declared, you know, not not actually allowed under the the rules of what they were declared under that there may be some sort of refund process or something. What are your thoughts on on what you're hearing and then news currently on on the possibility of the tariff actually an actual refund potentially coming?
00;05;50;29 - 00;06;15;04
Tad Calahan
Yeah, it's an evolving situation. We're certainly staying close to it. You know, I wish I had a crystal ball, I'd have maybe a little more confidence. But I do think that this is going to be a long process still probably some type of appeal. Or as we've seen, they're starting different tariffs under different sections and doing what they can to continue to meet the goals and objectives that this administration has.
00;06;15;04 - 00;06;34;12
Tad Calahan
And so understanding where we actually end up might take some time in terms of refunds. Certainly we want to do the right thing whenever the time comes. But we also need to have better confidence and clarity on what that looks like. So internally, we're taking all of the precautions and steps to ensure that, you know, we're getting in line like everyone else should the day come.
00;06;34;12 - 00;07;00;22
Tad Calahan
The refunds and and this whole kind of wind down of tariffs could potentially happen. And when it does we're starting to talk through what that looks like, how we communicate to the customer, our approach, and ultimately, you know, handle it how the best that we can. It's certainly a very challenging situation, I think, for all the companies that are in the space and trying to do the right thing, but also making sure you're protecting your business, your customer, and just so much of it's just still unknown.
00;07;00;22 - 00;07;10;15
Tad Calahan
Even though there has been the ruling that came down from the Supreme Court, there's still a lot to be known and be clear and confident about before we really make any final decisions on any actions to take.
00;07;10;17 - 00;07;34;03
Chris Fredericks
Yeah, that makes a lot of sense. So it's been a year of a fair amount just continuing with the change process that had started previously, making some real progress on that front, turning some corners, even with some of the technology stuff, dealing with the tariffs. And what have you experienced in just the general market, you know, TVs, customers, and how has the general market felt and kind of performed this year?
00;07;34;06 - 00;07;53;12
Tad Calahan
Yeah, I think it depends on the market. We serve quite a few. So there's I think the general sense is everyone's just, I think getting tired of the inflation and the price pressures and then the tariffs. And it's just seems to be over the last, probably the last several years has been a real challenge in this last year.
00;07;53;12 - 00;08;11;28
Tad Calahan
Cautious. Yeah. There's just been a lot of I think 25 has been similar to a few of the the years before. It just a little bit more of a magnitude because tariffs have kind of poured on more the cost sensitivity and of course demands a little soft. So ultimately I think we're all just trying to muddle through it.
00;08;11;28 - 00;08;30;07
Tad Calahan
Understand you know, how can we work on the things that we can control as a business, both for us and across industry, and looking for better days ahead where there's more confidence, more certainty and more demand, so we can all kind of get back to really the fun and exciting action I think we're all in this for.
00;08;30;09 - 00;08;39;15
Chris Fredericks
Yeah. That makes sense. So with all that said like how TVs how is TVs doing this. We're about to wrap up our fiscal year soon. So how is TV doing this year.
00;08;39;17 - 00;08;59;22
Tad Calahan
Yeah relatively. Well considering everything that we've been through. You know there's some areas that obviously are a little bit below expectations. But certainly the team internally has done a great job managing the Controllables and the things that we can control to make sure that ultimately the year is going to finish, you know, relatively where we would expect it to based on where we started the year.
00;08;59;22 - 00;09;15;02
Tad Calahan
And considering and reflecting between the tariffs and all the things that we've been challenged with, ultimately the outcome, and obviously we've still got 2 or 3 weeks left here. But ultimately I think we have a good chance of meeting most of our expectations for the year, which I think is is pretty good.
00;09;15;04 - 00;09;34;29
Chris Fredericks
Yeah, that sounds like quite a win. In the last couple of weeks finish out, as you said. But yet that's impressive. Yeah. So just generally then like, what else are you when you look back on the year, like anything else you'd highlight in terms of stuff you're proud of or just celebrating, you know what the what the company has achieved this year?
00;09;35;01 - 00;10;01;02
Tad Calahan
Yeah, I'd say along with all the stuff we've already talked about, we're also going through some infusion of talent. So we've we've hired several key people in key areas across the business already. We've got some new folks starting, and we've got a few open roles that we're working on bringing into the company that I think will really bolster some of our team in certain areas that I think is really exciting to see what that will do in terms of giving the company a boost in certain areas into the future.
00;10;01;02 - 00;10;19;10
Tad Calahan
So I'd say that's one thing certainly I'm proud of. And adding good talent is always a challenging thing, especially the labor market, the way things have been probably over the last six months. So that's been a highlight. And I think we're starting to prepare for kind of the the next generation of of people that are going to carry TVA forward for many more years.
00;10;19;10 - 00;10;34;21
Tad Calahan
And, and that's really exciting to think about the opportunity that's in front of us to, to not only manage the business the way that we have today, but also the opportunity that exists to continue to grow and scale and create a better business, better company for our customer. Ultimately.
00;10;34;23 - 00;10;55;21
Chris Fredericks
That's great. So that makes me think of and I'm curious, you know, the employee ownership TVs are kind of old hat at the at this now being 16 years employee owned. So sometimes I think it's easy for us to even forget, you know, that, like, oh, yeah, we're also employee owned and on top of everything else. But I think it has had a big impact for TVF this year.
00;10;55;21 - 00;11;24;22
Chris Fredericks
And from what I've gathered and the two things for me that come to mind, and I'm curious if this resonates with you or if you see other ways, but like in those hiring like I want, I'm wondering if being employee owned might have helped some with some of the some of the hiring this year and also just kind of people staying committed and and engaged during challenges with tariffs, with technology changes and stuff like how do you think being employee owned has in a way kind of bolstered or supported the company to to navigate this past year?
00;11;24;24 - 00;11;29;21
Chris Fredericks
In these couple of the ideas or anything else that comes to mind for you?
00;11;29;23 - 00;11;47;20
Tad Calahan
Yeah, for sure. I think that's certainly part of it being employee owned. Now for, as you said, 16 years has create a lot of ownership and a lot of passion and investment, like a lot of skin in the game, I guess. Yeah, for a lot of the people that have been here from, especially from the beginning, and even folks that have been here even 5 or 10 years.
00;11;47;23 - 00;12;06;10
Tad Calahan
Yeah, it's a really cool thing to be a part of. And I do know it has had an impact for those that are joint that have joined recently, but also for a lot of our folks that have been here a long time, primarily in terms of making sure that we're been good stewards of the business and and looking out for its best interests, especially when times are hard.
00;12;06;10 - 00;12;31;07
Tad Calahan
We we always use the the term resilient and at TVF and about how resilient our people are, the businesses and how we can perform in, you know, good conditions and even, you know, harder conditions, maybe more headwinds like we've had in the last year. And while maybe we aren't growing, you know, like gangbusters, we can still manage to get through and have successful years, even when maybe it feels a much harder and it takes a lot more effort.
00;12;31;09 - 00;12;44;09
Tad Calahan
Relative to, you know, maybe a business that's not employee owned, where people may be feeling a little bit more down, or maybe not as motivated to keep going. And so having that jump ship or jump ship. Yeah. Yeah.
00;12;44;09 - 00;12;44;22
Chris Fredericks
Totally.
00;12;44;22 - 00;13;06;00
Tad Calahan
Yeah. Grass is greener. You know, certainly those things can happen. And we don't see that as often a TVF for, for a lot of these reasons. But certainly the team and even the new folks, they're always curious to understand it. And they hear a lot about it, an interview process and the potential and the opportunity that exists. And so I've heard from several people that we've hired here recently that it was a it was a factor.
00;13;06;00 - 00;13;17;22
Tad Calahan
And we're certainly glad to have them and, welcome them into the employee ownership and make sure that they get the proper rewards of being part of what we're trying to build in terms of adding more value and creating more valuable business.
00;13;17;24 - 00;13;23;14
Chris Fredericks
That's awesome. Okay. So looking forward, what excites you about the coming year or so?
00;13;23;16 - 00;13;48;06
Tad Calahan
Yeah. Good question. I think the opportunity kind of a little bit of what we've already talked about with all the foundation that we're setting in terms of trying to make TVF a more scalable, I think that's really going to help us, you know, evolve, serve our customer better. And, you know, expecting that the economy will start to settle down and and get to a place where there's more confidence within the economy to to increase demand and make stronger business decisions.
00;13;48;06 - 00;14;10;20
Tad Calahan
And I think that'll benefit us and the market in general. And that's when the fun happens. And I think right now, having the opportunity to build for those moments is going to be exciting. And over the next year, year and a half, I think you know, as things hopefully turn the corner and we have an opportunity to really take advantage, and I know that's what me and the team are preparing for and excited for that challenge.
00;14;10;22 - 00;14;31;26
Chris Fredericks
That's awesome. Well it's been great. Update on TVF what about let's finish up with a fun thing. We sometimes do a mount Rushmore for tend our and our episodes. So this year we just had the Winter Olympics recently I know you're you're you know some many may know that you you participate in some winter sports from time to time.
00;14;31;29 - 00;14;35;18
Chris Fredericks
So what Mount Rushmore would you like to answer? Tad?
00;14;35;20 - 00;14;43;25
Tad Calahan
Let's do a Winter Olympics. Okay. Sports that I guess we, we would compete in or that we enjoy. I don't know how we want to say.
00;14;43;28 - 00;14;49;29
Chris Fredericks
Your top four, let's say Winter Olympic sports that you personally would want to compete in if you could.
00;14;49;29 - 00;14;51;05
Tad Calahan
Let's do that. Yeah. Okay.
00;14;51;10 - 00;14;52;17
Chris Fredericks
Well hit us.
00;14;52;19 - 00;15;00;21
Tad Calahan
Okay. I think the first one for me is the biathlon. So that's the one where there's cross-country skiing. And they got the rifle on their back and they got a stop.
00;15;00;21 - 00;15;01;11
Chris Fredericks
And that's awesome.
00;15;01;11 - 00;15;26;08
Tad Calahan
Do shooting. And then just do the skiing again. I don't know that I could actually train and be a decent cross-country skier. I'm not really an endurance sport kind of guy, but I think the intensity and the stamina combined into one sport where you have to have accuracy, stamina, strength, all that. Just I it's one of those like obscure sports that I really enjoy and, and really, honestly only watch when the Olympics come around.
00;15;26;11 - 00;15;43;05
Tad Calahan
But it's just so fascinating. And if you miss a target, you got to do that, like the penalty lap and the like. The whole thing is just really fascinating to me. And it'd be a neat thing to be really good at. I think. I think like Scandinavian times and doing cross-country skiing and out there and like, you know, a bear or something rolls up on it's just it's such a.
00;15;43;05 - 00;15;46;17
Chris Fredericks
Wild to be able to choose. Yeah. That's right. Yeah.
00;15;46;20 - 00;15;47;25
Tad Calahan
What about you, Chris?
00;15;47;27 - 00;15;54;05
Chris Fredericks
Oh, I was not going to cover any of. Oh, okay. My, this is your okay for Ted. Okay? I'm gonna let you run with it.
00;15;54;07 - 00;16;18;19
Tad Calahan
All right. Well, I think my second one would be the skeleton, which is basically like the luge, but they go headfirst, for those that know me, I'm kind of a speed guy. I like speed, I like I love it, so. Yeah. Yeah. It's dangerous. It's fun. I don't know that I could actually do it. You know, they do what, like 80 some miles an hour and your shins like an inch from the from the, the track.
00;16;18;19 - 00;16;23;19
Tad Calahan
But it sounds fascinating. And I'm sure it's an adrenaline rush that I'd really enjoy.
00;16;23;21 - 00;16;24;16
Chris Fredericks
Absolutely.
00;16;24;18 - 00;16;41;02
Tad Calahan
I'll save the obvious one for last. I think the other one would be curling. Like, I had this conversation with some friends who were like, okay, what's what's the one Olympic sport you think that you could just, like without training or anything, just go out there and like be good at, which is hilarious because I mean, can't really be good at any of this stuff, just, you know, out of the blue.
00;16;41;02 - 00;16;46;23
Tad Calahan
But curling seems like that one thing. It's it's like you could just kind of have fun with your buddies, have a couple.
00;16;46;23 - 00;16;48;16
Chris Fredericks
Extra hang out. It's the hangout.
00;16;48;18 - 00;17;20;12
Tad Calahan
It's a hangout. Yeah. Oh, yeah. Yeah. It's like the winter version of what is it, like, bocce ball or whatever, you know, you see it like the the retirement centers or whatever. And then the last one obviously is, is ice hockey playing hockey for as long as I did. And obviously coming off the gold medal game, that was just so exciting and so fun to watch, and certainly something that I always dreamt of as a kid to to play hockey at a high level and, and playing this play in the Olympics and growing up in the 80s, you know, the the miracle game of 1980 and stuff was was really fresh and something that
00;17;20;12 - 00;17;30;03
Tad Calahan
I remember how that kind of impacted even youth hockey at the time. So I would love to obviously have a chance to experience all that. That would be such a lifelong dream and such a fun thing to do.
00;17;30;05 - 00;17;40;05
Chris Fredericks
Love it. Those are all great answers. I honestly couldn't top them even if I were participating. So yeah, that's a great list. Todd. Thanks for coming on and part owners.
00;17;40;08 - 00;17;41;18
Tad Calahan
Yeah. Thanks, Chris. Thanks for having me.