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TalkShop Video:  Northern_Lights_Pizza

(DESCRIPTION)
Logo, U.S. Bank. A man stands near a store front window tossing pizza dough back and forth between his hands. Kerry Petersen, President and CEO of Northern Lights Pizza, U.S. Bank Customer.

(SPEECH)
[MUSIC PLAYING]

One of the hardest things is learning to be a better leader, instead of just a manager, and communicate vision to employees.

(DESCRIPTION)
He propels the pizza into the air over his head. On a work table, the words U.S. Bank Presents hashtag Talk Shop have been pushed through a layer of flour. A round of pizza dough flies across and wipes the words away.

(SPEECH)
My name is Kerry Petersen. I am the president, CEO, and founder of Northern Lights Pizza. And I am a U.S. Bank customer.

(DESCRIPTION)
Loads an insulated bag full of boxed pizzas.

(SPEECH)
When we got started, I had a little pizza place in a small town. And it did OK-- we sold enough pizza, it paid the bills and took a little bit of money home, but we didn't have financial controls in place. We didn't track sales. We didn't track costs. We just looked at the bank statement, and suddenly there was no money, and we didn't know why.

(DESCRIPTION)
Kerry examines a bottle of garlic butter sauce with a woman also wearing a Northern Lights shirt.

(SPEECH)
After that, we hired a CPA.

(DESCRIPTION)
Text, A CPA will help keep your finances on track.

(SPEECH)
It was a huge difference, just keeping track of everything. A good partner is going to be there when you need them and give you good advice. There are times when you are looking at needing to invest some serious capital to provide a growth opportunity.

Sometimes the risks that we have to take are bigger than we can face ourselves.

(DESCRIPTION)
Dough is pulled through a machine and tossed into the air. Bags of flour on the floor. Text, Find the right partner for the right need.

(SPEECH)
When we need money, we go to U.S. Bank for our loan needs. And we have lawyers for legal needs, and accountants for accounting needs.

(DESCRIPTION)
Bags of flour are dumped into larger mixers. Text, Be a leader by serving your employees.

(SPEECH)
The best leadership model that you can use is one that's servant leadership. When you understand that your role as the boss is really to serve your employees, who are serving the customer, who is really the boss. Everybody in your business can have a fancy title, but big boss belongs to the customer.

(DESCRIPTION)
Employees pat out crust on a table. Toppings are placed onto various pizzas. Cheese bubbles atop a pizza in the oven. Logo, U.S. Bank, the Power of Possible. Credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC

Leadership and partnership: Keys for business owners

Good leaders and good partners can make the difference in turning a business around and growing for the future. 

Tags: Best practices, Business loans, Cash flow, Equipment finance
Published: March 06, 2019

Kerry Petersen, founder of Northern Lights Pizza, learned the importance of having good partners who would be there when needed. Early on, managing cash flow was critical and hiring a CPA helped keep the business finances on track.

 

And when the time came to invest serious capital to provide a business growth opportunity, he realized the importance of having a trusted banking partner. Kerry says, “One of the hardest things is to be a better leader rather than just a good manager and communicate vision to employees.”

 

Answer this series of questions to identify the financing that may meet your business needs and get a business financing recommendation.