Today we’d like to introduce you to Sherry Deutschmann.
Hi Sherry, so excited to have you with us today. What can you tell us about your story?
As a single mom with only a high school education, I was a maid – and worked with my sister to clean gas station bathrooms before moving to Nashville to pursue a career as a singer. My first few years in Nashville were brutal – often having to go without electricity for several days at a time because I couldn’t afford the daycare bill AND the light bill. Eventually, I developed a career in sales, first selling cars – and then portable toilet service – and finally to selling services in the medical field. That led me to working for a company in the healthcare revenue cycle industry – a job where I was making great money but was not appreciated or respected. The way I was treated there inspired me to start my own company…competing with them. I bet on myself and on my belief that my employees would give of themselves fully if I took care of them FIRST. And so I met with prospective clients (large hospital groups) and told them: “I absolutely want your business but you must know that I don’t believe the customer comes first. My employees come first. But I take such good care of them that they are happy and focused at work and they’ll give you the best service you’ve ever had…and you’ll never want to leave us.”. They believed me…and became loyal customers for years!
Our employee-first culture became the catalyst for so much more than I expected. The NY Times wrote about us – that we helped employees buy their first home; that we let them bring their kids and pets to work when they wanted/needed; that we paid 100% of their health insurance….AND that we gave them 10 % of the profit monthly (split evenly so that the CFO got the same amount that the receptionist got!). That article brought us to the attention of Tom Perez, then US Secretary of Labor – who then spent a day with us, experiencing our empathic culture for himself. That culminated in me being asked to address Congress…and being named a White House Champion of Change by President Barack Obama.
Together, our team built that company, debt-free, to $40Million per year. Having a successful small business enabled me to build wealth, but more importantly, it helped me build influence. When I sold that company (LetterLogic) to a PE firm in 2016, I then turned my attention to helping other women do the same. The work I’m doing now with BrainTrust is the most important, soul-satisfying work of my life.
Can you talk to us a bit about the challenges and lessons you’ve learned along the way. Looking back would you say it’s been easy or smooth in retrospect?
It’s never smooth-sailing for an entrepreneur! The first big struggle was running out of money about 18 months in. I didn’t understand that we could grow so fast that we’d outgrow our working capital…but we did. Fortunately, my banker at Pinnacle Financial Partners introduced me to a man who respected what I’d built., and invested in our growth. He was the only investor we ever needed!
The most persistent and consistent mistakes I’ve made have been with people. Hanging on to employees for too long because they were good humans, and just hoping they’d be able to grow as the company grew…but they didn’t. And, on multiple occasions, I’ve “over-titled” employees who turned out not to be able to perform the work the title encompassed – and later had to give them a lesser title – only to lose them. It’s a stunning study of human nature that titles mean so much to some people! Hopefully, I’ve learned that lesson for good!
Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
BrainTrust is a peer-advisory to ensure women business owners build financial independence, wealth, and influence through entrepreneurship. Being an entrepreneur is lonely – especially for women who are the primary caretakers of children, aging parents AND running a company. BrainTrust provides a community for accountability and knowledge sharing that really makes a difference.
What makes BrainTrust different is that it is not a networking group – nor is it a social club or a support group. Is is a highly-structured process that has women pushing one another – and holding one another accountable to the changes they need to make to achieve their loftiest goals. The process works! In the US, less than 2% of women business owners ever reach $1M in annual revenue. But in the BrainTrust community…25% have hit that mark and they aren’t slowing down! The power of women helping other women is pure magic!
The magic comes from carefully curated groups of 5-7 women who meet monthly to help each other through their biggest challenges and opportunities. Instead of giving advice, they share their own lived experiences in dealing with a similar issue – both the good the disastrous outcomes – so their peers can avoid common pitfalls, reaching and exceeding their goals quicker.
What I’m most proud of with BrainTrust is the sisterhood that has been created. A sisterhood that has a culture in which women boldly ask for help and GET IT. Recently, one of our members needed a significant sum of money and posted the need on our member portal, including the terms of the loan she sought and her specific plan to repay it. Within 24 hours, she secured the loan from another BrainTrust member in another state – a woman whom she’d never met! Amazingly, this was the third time that a member has gotten short-term financial needs resolved through another member…in less than a day.
How do you think about happiness?
Shining a light on others makes me happy. There’s a basic human need to be seen. To be heard. And in todays world, only a smattering of us get that. When I get to see others in the spotlight – to put them in a place where they can shine….THAT makes me happy. And when BrainTrust can make a critical connection for someone – a connection that provides resource she wouldn’t get otherwise, I’m over the moon.
On a daily basis, with BrainTrust we get to put the spotlight on women-owned businesses to help them grow and scale. The beauty is in the way these woman are unselfishly supporting and promoting one another – and holding each other accountable to the changes needed to make their companies more profitable. The process works!
Nationally, less than 2% of women business owners ever reach $1Million in annual revenue…but in BrainTrust, more than 25% of our members have broken that barrier! What we’re doing really matters to the women, to their families, to their communities…and to the economy.
Pricing:
- Women with companies generating under $1M in annual revenue pay $249 month.
- Women with companies generating over $1M in annual revenue pay $349 per month.
Contact Info:
- Website: https://www.ourbraintrust.org
- Instagram: ourbraintrust_
- LinkedIn: https://www.linkedin.com/in/sherrystewartd/
