Financial planners Cat Toone and Dan Zech wanted to give back to small businesses. They found their avenue in Oakland Thrive.
“They’re a fantastic nonprofit,” says Cat. “If you’re an Oakland County emerging small business, they match you with consultants like us who give you free advice. Oakland Thrive pays us an hourly stipend – you pay nothing.”
Cat and Dan are co-founders of Stalt Financial (staltfinancial.com), a client-centered practice that strategically designs financial plans to meet both short- and long-term goals, including exit strategies. Oakland Thrive's nonprofit mission fulfills their passion for helping others.
Cat explains Oakland Thrive’s mission: “They strengthen the community by strengthening small-business viability. A ‘silver tsunami’ is coming: business owners 55 and older are exiting their businesses in droves, and the next generation doesn’t want to be involved in the business. So they’re either getting bought up or they’re shuttering. And that’s a loss to communities, of a service, of jobs. Making small businesses and emerging startups strong is vital, I think, to the fabric of a community, and that’s what excited us about being involved with Oakland Thrive.”
Oakland Thrive COO Laura Dodd says Stalt Financial “brings immense value to our small business clients; they’re caring and knowledgeable.”
Through Oakland Thrive, Dan and Cat provide business owners up to two hours of free advice and insight, and a plan to manifest their vision.
“In two hours,” Dan says, “we can get a feeling and understanding of who you are, what your business is about, where you’re trying to go, and create a roadmap to level up your business.”
“Roadmap is a really good way to put it,” Cat adds. "A synopsis of the conversation and a list of action points, simple steps: ‘In one to two years, you'll want to look at this and this; here are the professionals you may need.'”
“We always come at it from an educational standpoint,” Dan notes. “I’ll get through a point and say, ‘Does that make sense?’ I come from a family of educators and I want someone to walk away feeling like, ‘I see. I’ve got it now.’ I love that feeling.”
If Dan and Cat don’t have expertise in areas they discover you need, they’ll recommend other Oakland Thrive providers – and business owners get up to two hours of time with those providers as well. “We can tell them exactly who they need to go to, and what to ask,” Dan offers.
“Most of the time,” Cat continues, “business owners just need a starting point and a little bit of direction, a little boost to make sure that they're doing the right things. So we're providing this structure of what to keep in mind as they build this business, including the fact that someday they may want to exit.”
If you’re part of the silver tsunami, Stalt has information that can benefit you.
“Business owners who may be five to seven years from exiting their business, who may have no idea how to even start that process – reach out to Oakland Thrive,” Cat suggests. “Hopefully they’ll put you in touch with us.”
It’s November; I ask Cat and Dan what they’re thankful for.
“I’ll be honest: our time is limited – it’s scarce at best,” Dan responds. “But it’s rewarding to do right by these folks.”
“To give somebody that feeling of being secure in moving forward with their life plans because of the work we've done,” Cat adds, “is so immensely satisfying, in a way that 20-year-old me would never have imagined. We’re thankful we have the ability to give back to small business owners and share our experience,”
Reach Cat or Dan at (248) 733-4344.
"Business owners just need a starting point and a little bit of direction.”