Name: John Haycock
Title: President & CEO
Company: Haycock Petroleum Company
Location: Las Vegas
Type of Business: Wholesale and Retail Petroleum Marketing
Years in Nevada: 46
Years with Company: 22
Biggest Business Challenge:
The biggest challenge in managing a business is to constantly be aware of all the conditions that make up the current business environment, and make the necessary operational changes to continue to compete under those conditions.
Greatest Professional Accomplishment:
As a second generation business manager, the accomplishment I am the most proud of is succeeding my father as company president while maintaining an excellent relationship with him, in spite of the father/son business dynamic, which can be challenging.
Worst Failure:
I think my biggest mistakes in business, especially early on in my career, all relate to my propensity to misjudge character. Some of the people I have trusted the most, and have considered the most loyal, have turned out to be some of the most suspect business relationships I have had.
Most Valuable Lesson Learned:
You can delegate authority, but you cannot delegate responsibility.
Company Goals:
To provide security for the owners and employees of the company.
Best Business Advice:
Have your annual financial statements audited.
Name: Judi Woodyard, SIOR-CCIM
Title: Executive Vice President
Company: The Equity Group
Location: Las Vegas
Type of Business:
Commercial real estate services, including property asset management, development consulting, sales and leasing, tenant representation and overall marketing services.
Years in Nevada: 12
Years with Company: Founded 2001
Biggest Business Challenge:
Creating a sound, challenging, yet realistic strategic plan with consensus and enthusiasm from co-workers, producing a unified and productive team.
Greatest Professional Accomplishment:
Maintaining a clear vision of my business responsibilities and expectations through the most trying and debilitating illness.
Worst Failure:
I have a tendency to “over-expect” others’ performance, based upon my own expectations for myself.
Most Valuable Lesson Learned:
When all is said and done, the only thing you really have is your reputation. Never compromise yourself.
Company Goals:
Our goals are to have strong market presence and reputation, to have vested employees and colleagues, and to offer complete client services through exclusive and formal affiliate relationships.
Best Business Advice:
Set the example you expect others to follow. Know exactly where you want to go. Evaluate the resources needed, chart your course carefully, do not abandon your chosen path and do not lose sight of your original destination. Success is the only possible result.
Name: Charlie Abowd
Title: Owner and Head Chef
Company: Adele’s Restaurant & Lounge
Location: Carson City
Type of Business: Restaurant and lounge
Years in Nevada: 22
Years with Company : 22
Biggest Business Challenge:
Our biggest business challenges are keeping the restaurant in the forefront of the industry, and also keeping the staff motivated.
Greatest Professional Accomplishment:
We received the Wine Spectator Award of Excellence six years in a row. We received eight “Best of” awards in 2001, and we have received honors from our customers who have given us many, many full houses. Also, adding a veranda, which enticed the younger, upscale crowd to join us.
Worst Failure:
Probably my worst failure was deciding to go off premises to run a food and beverage operation at the Glenbrook Golf Course in Lake Tahoe.
Most Valuable Lesson Learned:
I have learned the importance of keeping my staff motivated. I try to keep them focused and instill in them that they are the most important part of our success.
Company Goals:
One of my goals is to achieve the DiRoNA (Distinguished Business Restaurants of North America) Food and Service Award. Another goal is to remain fresh, new and exciting. Next year is our 25th anniversary, and we are always looking to stay on the cutting edge with our food and to keep our furnishings and atmosphere updated.
Best Business Advice:
Stay focused. Keep your staff motivated (not scared) and don’t become complacent. You must constantly evaluate where you are and where you want to go, what’s working and what’s not.
Name: Patrick J. Everett
Title: Managing Director
Company: Northern Trust Bank
Location: Las Vegas
Type of Business: Asset management, trust administration and private banking
Years in Nevada: 6 months
Years with Company: 6
Biggest Business Challenge:
Although Northern Trust is one of America’s most respected financial institutions, we are not yet widely known in Nevada. Our challenge is to spread the word in Nevada so people learn about our standards of quality and expertise, our way of conducting business and our culture of becoming a partner in their success.
Greatest Professional Accomplishment:
It has been my great pleasure to serve the needs of multiple generations of a number of families. It means working with parents, children and grandchildren, catering to their personalities, differing investment requirements and specific needs. Seeing a family progress, preserving and compounding its resources and being a partner in its success stands out in my mind.
Worst Failure:
Several years ago, one of our clients had acquired valuable stock options in several public companies. We conducted an analysis and recommended liquidating a substantial portion of his holdings. However, being caught up in a strong market and wanting to sell “at the top,” he deferred his decision, and his options dropped substantially in value with the stock market adjustment. I think back to our meeting and how we could have made our recommendation more forcefully, so that he would have acted quickly and preserved his wealth.
Most Valuable Lesson Learned:
Always look at a proposed solution to a business problem from your client’s perspective. Long-term relationships are founded by putting the interests of your client first.
Company Goals:
To be the recognized leader in providing high quality asset management, trust and private banking services to the affluent individuals, non-profit institutions and tax-exempt organizations in Nevada.
Best Business Advice:
There are two things that contribute mightily to a business’s success: first, put your client’s interests ahead of your own; and second, create clearly-stated objectives and a realistic, definitive plan to achieve them.