Life & Work with Sherry Stewart Deutschmann

Today we’d like to introduce you to Sherry Stewart Deutschmann.

Hi Sherry, can you start by introducing yourself? We’d love to learn more about how you got to where you are today?
As a single mom with only a high school education – with toilet scrubbing as my primary talent and experience, I started a company in my basement and grew it to $40M annually, debt-free.

We were named to the INC 5000 list for 10 straight years. the key to our success: A culture in which the employees came first, not the customers or shareholders. It worked. Our employee benefits were legendary.

I sold LetterLogic to private equity in 2016 and started BrainTrust in 2019. BrainTrust is a peer-to-peer membership to help women grow their businesses. Nationally, only 2% of women-owned businesses ever reach $1M in annual revenue, but in their first 24 months in BrainTrust, more than 10% of our members plowed right through that hurdle! The process works!

My business philosophy has led me to be featured in the New York Times and quoted in INC, Entrepreneurs, Forbes, Fortune, etc; address Congress, and be named a White House Champion of Change by President Barack Obama.

Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
So many! Not knowing what I didn’t know – not having a foundation when it comes to basic business practices like how to read a P&L and Balance Sheet.

Access to capital – not being “bankable” which forced me to sell all my personal belongings and cash in my 401K to fund my startup. Later, after getting to $1.5 Million in 18 months, still did not qualify for a bank loan.

Starting the business as a partnership. NOT GOOD.

Hiring friends and family.

Keeping poor-fitting employees for too long.

Thanks – so what else should our readers know about your work and what you’re currently focused on?
Empathy. It’s what guides me (to a fault) and what has led to my success.

Indeed, I think it is the most undervalued leadership quality.

But it led me to create benefits that really helped and supported employees, making them know they were valued: Fair living wage; help with buying their first house; bring kids and pets to work any time; help if you wanted to start your own business.

100% of medical and dental insurance paid by the company; a unique profit-sharing plan that on a monthly basis, gave 10% to the employees, SPLIT EVENLY, so that the custodian got the same $ as the CFO.

Networking and finding a mentor can have such a positive impact on one’s life and career. Any advice?
Most networking is a waste of time. And good mentors are hard to find. My advice is to be hyper-specific about your need and then to seek those with real experience in that regard. Be prepared.

Do your homework. DO NOT ASK FOR OR ACCEPT MEETINGS WITH PEOPLE WHO WANT TO “PICK YOUR BRAIN”. Do your homework!

Pricing:

• $249 Month – BrainTrust dues.

Contact Info:

• Website: https://ourbraintrust.org
• Instagram: https://instagram.com/sherry.stewart.d/
• Facebook: https://facebook.com/@ourbraintrust.org

Image Credits:
Nathan Morgan and Judith Hill