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Episode 74: How A Family Business Can Pivot to Survive

In this episode of "The Family Business Show," host Michael Palumbos introduces us to Marcy Tunapi from Giuseppe's Bakery in Rochester, New York. Marcy shares the compelling journey of her family's business, which has been a staple in their community for generations. Starting with her great-grandparents, the business has been passed down through the family, evolving and adapting over the years.

Marcy details how her father transitioned from construction to running the bakery, bringing his own touch to the family legacy. Despite the challenges faced, including the recent pandemic, Marcy emphasizes the resilience and adaptability that have been the hallmark of their business. She recounts how they've navigated through tough times, drawing inspiration from past generations who overcame their own set of challenges.

The conversation also touches on the importance of family and community in their business. Marcy highlights how the sense of ownership and responsibility to their heritage and employees drives them forward. The narrative of Giuseppe's Bakery is a testament to the enduring strength of family businesses and their pivotal role in their communities.

Michael and Marcy discuss the balance of maintaining tradition while embracing change to ensure the bakery's continued success. They delve into the bakery's expansion into wholesale, illustrating the strategic shifts that have enabled growth and sustainability.

This episode not only showcases the journey of Giuseppe's Bakery but also serves as an inspiration for other family businesses facing their own challenges. It's a story of passion, perseverance, and the enduring bond of family, echoing the sentiment that with dedication and adaptability, family businesses can thrive across generations.

Watch the entire episode!

Episode 74 Transcript


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Michael Palumbos ChFC, CBEC: Welcome everybody to the family business show. I am your host, Michael Columbus, with family wealth and legacy, and Rochester, New York, and today we are excited to Introduce everybody to Marcy Tunapi



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Michael Palumbos ChFC, CBEC: at Chesapeake's Bakery in Rochester, New York. in the gates area to be specific welcome. Mercy thanks for having us



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Michael Palumbos ChFC, CBEC: great. If you could. You know one of the traditions that we have on the show is kinda walk us through your journey to becoming a part of the family business.



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Michael Palumbos ChFC, CBEC: some people, it's, you know. I've been doing this since I was a little kid, and of course that's all I was ever going to do, and other people were like, I'm never getting into the family business, and then they come back. Well tell us about your journey.



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iPhone (4) sure. So started off. I mean, obviously, when we were little, that the business has always been in our family



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iPhone (4) growing up. it was in my dad's family growing up. His mother did it her father did it.



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iPhone (4) My father didn't take ownership of the business until the eighties mid eighties late eighties



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iPhone (4) Prior to that, his mother and her sisters and brothers ran the business



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iPhone (4) my father was actually in construction, and



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iPhone (4) he don't know painting company, but always kind of during slow times, came back to the business to help his mother out, being my grandmother. you know, anywhere they needed them on bread, you know, making bread, making sauce lasagne is all that kind of stuff.



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iPhone (4) he had the opportunity, it it being in construction during slow times. You know the winter months. Things like that. He knew that



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iPhone (4) there was more of a



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iPhone (4) a better way to make a good living I mean a hard living still, but at the same time he could make money year around in the restaurant



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iPhone (4) food industry.



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iPhone (4) that being said, he took it over with his brother in the late Eightys, and



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iPhone (4) they



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iPhone (4) they love the business. I mean to the point where they they knew that it was. It was more, you know, a more consistent income, and they took it over, so that being said, my brother and I, we were my brothers and I actually there. I have 2 brothers that were originally involved in the business with my father.



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iPhone (4) in our early teens. We would kind of go in with them. Make the break



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iPhone (4) with them, you know. Get there 3, 4 o'clock in the morning. and it took my my younger brother myself are actually still involved.



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iPhone (4) but something about it I mean the smells, the sounds like we we really love



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iPhone (4) You know we'd love going in there when we were little, just visiting my father. And when we had the opportunity to to you know, see the pride that went into it every day. it just something about it stuck for my brother, my younger brother, and myself. my older brother



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iPhone (4) still helps out on it on occasion. again it's it's when it's ingrained in your family for so for so long, almost a 100 years, you you kind of just you're drawn back.



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iPhone (4) And yeah, I mean, it's just again a labor of



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iPhone (4) We've made it this far. So you think of the catastrophes and everything that this business has gone through in the last 100 years.



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iPhone (4) and I mean, we come motivated every single day for some reason or another.



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iPhone (4) i'm sorry, Michael and i'm losing the audio here.



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Michael Palumbos ChFC, CBEC: Nope, I I said, good for you. I appreciate you sharing all of that.



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Michael Palumbos ChFC, CBEC: what you just said. You know one of the key words: I love hearing the stories about the obstacles, and I think that our listeners do, because



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Michael Palumbos ChFC, CBEC: it's usually in the obstacles it's in the it's in. The I don't want to call them failures, but in learning the ways not to do something



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Michael Palumbos ChFC, CBEC: that we get stronger, and that's kind of, you know. Some of those stories help, so, you know, go back and and hit some of the big ones that you guys have been through the years, and then talk about what you know. What were the stories, and how did they? How did the family overcome them?



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iPhone (4) Sure, I mean, obviously the most recent, which i'll get into eventually. But I look back, and and you know the most



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iPhone (4) recent pandemic that my father and my brother myself have gone through. I mean, i'm sure you know it's like being a dead horse talking about this thing. Yeah, just because we have to again, you know, coming through motivation, and one of the things that was we were able to motivate. I stay motivated through. That was.



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iPhone (4) We. We talked a lot about on a daily basis.



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iPhone (4) Imagine what you know we would say things like. Imagine what



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iPhone (4) you know, I would say to my father, Dad, Imagine what your grandfather went through during prohibition. When they said he couldn't sell alcohol. imagine what he went through during



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iPhone (4) World War 2 you know all these things that really I mean the gas crisis that that you know it. We were gonna feel sorry for ourselves, you know, and and and



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iPhone (4) a lot of sadly a lot of people have in the last, you know, 3 or 4 years. They felt I mean, you know. And there's there's really No, I i'm not judging, because there's been a lot of good friends that have lost their businesses, and and you know they've had to. You know, shudder things that have been your business that I've been around for 100 years. But



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iPhone (4) you look at those strong old companies, especially in Rochester, that have gone through so much over the last 100 years. I mean, we still have a lot of businesses.



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iPhone (4) you know. And and again we weren't gonna feel sorry for ourselves. We were gonna, you know. Come in. If my father my cell phone like we didn't miss, and I like I I don't wanna we. We hang our hat on this, you know, and and 50 years when i'm talking to my grandkids, i'm gonna feel proud that I said I did not miss one day of work



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iPhone (4) in. You know the 3 years, you know, and I, and and again it's like



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iPhone (4) the people before us. My grandmother, her brother. They didn't miss it either.



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iPhone (4) you know it's just, and that's where like that's our foundation. This, you know. Brad, is our foundation. But



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iPhone (4) you know that's what we always say. The dough is what started this whole thing but just just



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iPhone (4) We're going to hang our hat on. The fact that we just kind of trudged through and and got through it. You know



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Michael Palumbos ChFC, CBEC: that's awesome. And it it the the the Duncan Don. It's as soon as you said what you were saying, the Duncan Don. It's commercial from years ago. Time to make the doughnuts time to make the bread we just do. You know it's this is what this is what we do. We chose this life. We want to do it. Let's make it happen.



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Michael Palumbos ChFC, CBEC: Come back, or I water good for you



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iPhone (4) in the business today. Let's it's you and your brother mostly. Who else? Who else is there on a regular basis? My my dad is here so much, I mean, there's that old saying from the good fellows movie. He's there so much he could be a chair. My dad is here every single okay. So today's Monday.



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iPhone (4) it Mondays and Tuesday is our retail operations close, so I I try not to come in on like a Monday or Tuesday, just to really get like a nice day away, where I can do things at the house. But my father is here, and has been here 7 days a week



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iPhone (4) every day since I was a child, I mean granted he missed the day here, and that you know we got a letter here. We got away, but and and it makes it difficult for my brother and I to



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iPhone (4) to justify a day off. Both of us are involved in daily day to day operations. My mother, Jenny, is



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iPhone (4) is a saint as well. She was involved in the in in a local school district and food service industry, for i'm sorry in the Food Service section of a a a section of one of the



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iPhone (4) that the schools in our area, and she retired



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iPhone (4) 5 years ago, and now she heads up all of our catering. So she does. All the calls you know, takes care of all the customers. We still cook all the food we can't give her a comment and help. But she she without her I mean



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iPhone (4) it. It it's we, she She handles an an insane amount of of calls every day. So



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iPhone (4) that's great to put it into perspective for those listening. How old is Mom and Dad? How old are you got? You and you and your brother. Yeah, My My father turned 71 this year. My mother is 70. I'm 40. I turn 42 this year. My brother Joey, Jr. Turns 41 this year, so



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Michael Palumbos ChFC, CBEC: got it. Okay, that that just helps. And do you have? Do you and Joey have kids?



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iPhone (4) that is off pursuing his dreams of of playing hockey. He lives in Boston, so we miss him very much.



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iPhone (4) I have a 16 year old daughter who is here, you know, 3 or 4 days a week helping at the calendar, taking care of tables, and that I have a a 11 year old and 8 year old.



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iPhone (4) Joey, Jr. Has a 2 year old son, and then a a baby grow on the way. So oh, congrats, that's that's nice, you know, and it's nice. You, you, you know. Some of the kids come in and they're doing their thing and helping out.



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Michael Palumbos ChFC, CBEC: Yeah, I



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Michael Palumbos ChFC, CBEC: so many times, and there's there's no right or wrong



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Michael Palumbos ChFC, CBEC: about family business. It just is, and and and and I think you know one of the things is, if we get too inflexible about. Of course you're coming into the family business that causes problems. And if you get to, you know



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Michael Palumbos ChFC, CBEC: non too flexible. And don't even talk about the option that we would love to have you in the family business. That's an you know. So there's that dichotomy of how you hold.



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Michael Palumbos ChFC, CBEC: You know this person that you love dearly in your heart to say, Don't, follow my dreams, follow your dreams. If your dream and my dream happen to align, then awesome. You know it's it's it's pretty unique.



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iPhone (4) and it and it's hard for some people to do that. Yeah, along those lines, Michael, what I so i'm at personally, i'm at at a a a a bit of a crossroads for that. My son was home for the holidays, and he was relied on.



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iPhone (4) probably a little bit too much. He loves it, though he he would call me in the morning, even if I didn't have him scheduled to come in, and he would constantly ask if I needed help. I don't know if that's because he needed to take some cash home with him back to Boston, but he was here, and he really did an unbelievable job. But again



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iPhone (4) and and I love this even from when I was a child, and he loves it. I don't know it, and I don't want him like you said to feel obligated



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iPhone (4) you know I I we we're covered when he's not here, but when he is here he the doors open. He can come in whatever. Yeah.



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Michael Palumbos ChFC, CBEC: that's nice. That's nice.



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Michael Palumbos ChFC, CBEC: Talk about. You know the



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Michael Palumbos ChFC, CBEC: the business from it, from the from the standpoint of through through history.



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iPhone (4) How did the business make money? And what do you do differently today in terms of survival making money. And you know those kinds of things.



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iPhone (4) So so in the when they, when my great grandfather and his wife and kids started this company, they were.



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iPhone (4) they made Italian bread.



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iPhone (4) They made pizza, which



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iPhone (4) I put it in my bio. If anybody takes a P. We are we, if not the first we were the first family to serve Pizza and Rochester. yeah. So Again he didn't start. He started making bread, and his wife said, let's make the pizza like we get at home.



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iPhone (4) that you know, being back back in Italy, and we'll see if people want it.



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iPhone (4) they so that was one. They added that, and then my grandmother had a really good sauce recipe, so



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iPhone (4) you know, let's make yakis. Let's start selling up. So we got bread, pizza and Yaki's kind of a weird comb, a lot of cars, but it, you know. And then you know, my grandfather would say, oh, do you remember they used to make the the spoil. It's a Italian pastry.



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iPhone (4) They started making that so it's one thing after another again, not making enough money in one section adding something else to the point. Now where, Michael, we that this company we constantly say it is, could be 4 or 5 companies



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iPhone (4) all you know you can. You can branch off and do a sandwich shop out of this place. You could do a pizzeria. You could do a catering company. You could do a full service restaurant, you could do a full service Wholesale bread company.



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iPhone (4) we didn't, I mean, we. We didn't realize how much we were actually doing. We just came in and did it before the pandemic.



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iPhone (4) you know, when the help issue kind of happened. Now you're like, oh, my God, we do so much, and I do. I mean, we're cleaning Romaine, you know, for salads, for for our dining room.



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iPhone (4) and we were 7 days a week at that point the cleaning and at the in the same kitchen across the way



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iPhone (4) making sub roles for a Deli up the street.



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iPhone (4) you know. So i'm having, you know, we had 40,



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iPhone (4) fifth by 52 employees.



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iPhone (4) and and everybody kind of did their thing. you know this guy is doing this. This guy is doing that. but again



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iPhone (4) 5, 6 different companies.



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iPhone (4) Now our pivot now currently is so. During the pandemic we



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iPhone (4) again. This is such a it's gotten so old that bringing it up. But



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iPhone (4) the the pandemic itself changed the way so many people do things with their in their own business and their walls.



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iPhone (4) We I apologize for bringing that up. The pandemic was a game changer. It's one of the biggest things that we've seen in our generation.



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Michael Palumbos ChFC, CBEC: and had to live through and figure out what we're gonna do. So anything that you're talking about right now is somebody else is going through something and said, oh, I didn't think of that one. You know what I'm going to grab that. So I appreciate you talking about it, Marcy so kinda I want so. my dad, and



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iPhone (4) you know we said



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iPhone (4) we have to do something to make this business run a little bit smarter with less hands.



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iPhone (4) you know, and less help.



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iPhone (4) We were fortunate enough that a couple of bakeries in our areas. They they were some of those like I just talked about some of those that that are gone. you know a lot of good people, a lot of hard workers, but it just they couldn't make it work, and I think we were able to make it work just because of our diversity. in the business.



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iPhone (4) i'm sorry



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iPhone (4) and i'm sorry I just have to decline this call. My son's actually calling you talking about him. The the universe connected. You guys.



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iPhone (4) My.



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iPhone (4) I'm: so sorry. Okay, I'm: sorry.



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iPhone (4) That's what everything is for. Yeah.



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iPhone (4) and he's 18, and I still have to be his dad, even though he's 500 miles away. All right.



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iPhone (4) so kind of back



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iPhone (4) we so anyways, we were blessed with the fact that



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iPhone (4) the phone started ringing



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iPhone (4) for for product



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iPhone (4) in 2,019,



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iPhone (4) along with our just giant thing that was happening, we decided to expand our bakery



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iPhone (4) just based on it really was a lot of speculation we were hoping to kind of go that route anyways.



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iPhone (4) you know, to expand our bakery and kind of focus on that, just because



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iPhone (4) again, it was our foundation, the bread and the dough, and we kind of wanted to my brother myself and my father.



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iPhone (4) We wanted to kinda



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iPhone (4) expand, but simplify at the same time.



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iPhone (4) you know. So we're not cleaning the domain, and we're not doing this, which we still do today, but just in a way smaller scale.



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iPhone (4) But put all of our focus into our bread.



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iPhone (4) we went, we we when we did that in 2,019 we had around 20 accounts, wholesale accounts, the dollies, the grocery stores, the restaurants.



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iPhone (4) and it Once we put this equipment in place in 2,019. The business started.



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iPhone (4) Well, I mean. We went from 30 accounts, you know, 1520 accounts to 40 in the matter of a week, and then we went from 40 wholesale accounts to 80 in the matter of 2 months.



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iPhone (4) When the pandemic hit and those companies went, we we we service around 300 wholesale accounts on a daily basis.



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iPhone (4) we have 2 2 vehicles and and 4 runs that we manage on our own, and then we deal with around 6 to 7 third party distributors. They they're called Brad men in our area where they come in with their cube vans, and they pick up, you know.



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iPhone (4) 30 stops, or you know, and and



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iPhone (4) and that's kind of where that when I brought the pivot in that's that pivot that we kind of made because we had to, but we also got lucky.



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iPhone (4) and it's been really, really, really good going that way. So



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Michael Palumbos ChFC, CBEC: let me see if I make sure I understand that. So before. You know, you were mostly a retail business, the restaurant, the bakery.



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Michael Palumbos ChFC, CBEC: you know. If somebody wanted to sub, they could probably stop in and get a sub or pizza whatever, right? And then back in 2,019. You've got some wholesale places with about 20 of them, and you



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Michael Palumbos ChFC, CBEC: to really go deep into into the wholesale world. And what do let me catch this. The what they're called breadmen is that what you do?



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iPhone (4) That's what they're called. Yeah, yeah.



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Michael Palumbos ChFC, CBEC: yeah, Great, whether it's a man or a woman driving the van. And it's the bread man. And



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Michael Palumbos ChFC, CBEC: you started working with them. Did you work with them pre pandemic.



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iPhone (4) We did so. We had one. We had one



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iPhone (4) account one bread man that came in who had 2 vehicles, and this is actually a cousin of ours Who's Great Grant, whose grandfather



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iPhone (4) this is this is gonna get a little little little weird but his grandfather and my great-grandfather were brothers and then my yeah. So so that man it. His name is Nick Petrillo.



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iPhone (4) and my great-grandfather he's a patrol; also his grandfather and him were partners at a bakery.



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iPhone (4) It's for those bakery, as my was my great grandfather's brother. I know I need to tell you a story before anything. I was doing a summer job for the county in Monroe.



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Michael Palumbos ChFC, CBEC: and one of the guys in my truck loved Petrillos. We would. We would each go in at like 7 in the morning, and we would stop the truck when we were in that area, go in, grab a loaf of bread, and that would be our breakfast, because it was



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iPhone (4) right. Now, you know, it's so good. State Street. Yeah, yeah, They they were good at it. They really did so anyways, his yeah, their grant, their their their grandson and I were doing business, and my father. We were doing business. He was



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iPhone (4) our he he was the only guy he would show up at 3 o'clock in the morning. Take our stuff, and we didn't know where it was going, and just took it.



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iPhone (4) and and that word spread from him. You know he would be at a bakery picking up pies, and they would see our stuff on his truck and say, where'd you get that



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iPhone (4) I got it from Jesspes. It's my cousin over across town, call them they'll that you can, You know you can pick up there for in the morning, and that's and that just kind of exploded. And now we have, you know, 6 or 7 of those guys are are here every morning at 3, 4 o'clock in the morning to to take the product out. So yeah.



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Michael Palumbos ChFC, CBEC: good for you. That's it. Just brilliant and thinking about that, that you know



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Michael Palumbos ChFC, CBEC: sustain business be open to opportunities because you don't know which ones are going to be the ones that



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iPhone (4) to do it for you. So what percentage of your business is retail or is retail today versus wholesale.



00:21:31.510 --> 00:21:34.300

iPhone (4) Yeah. So like you said, I mean, you said.



00:21:34.580 --> 00:21:45.700

iPhone (4) you know, in the past could people come in for a sub. People in. Come right now. We're open Wednesday through Sunday for retail and we our Our dining room is still open.



00:21:45.800 --> 00:21:52.630

iPhone (4) We do lunches from 11 o'clock until 4 o'clock Wednesday, through Saturday, and that's just me



00:21:53.850 --> 00:21:59.009

iPhone (4) i'm a glutton for punishment. But at the same time I I love the lunch crowd.



00:21:59.180 --> 00:22:00.140

iPhone (4) Okay.



00:22:00.240 --> 00:22:07.119

iPhone (4) So right now, we're about half and half between retail and wholesale. So 50% retail, 50% wholesale.



00:22:07.170 --> 00:22:20.070

iPhone (4) again that 50 wholesale, and that 50% retail could be their own business. You know a a family could sustain on on one or the other of those. But again.



00:22:20.490 --> 00:22:26.790

iPhone (4) the way my family is glutton for punishment if it is, or just a passion for people and service.



00:22:26.820 --> 00:22:31.230

iPhone (4) we do both, and we love it. So yeah, currently, currently. Yeah.



00:22:31.850 --> 00:22:37.040

Michael Palumbos ChFC, CBEC: So in you know, working in a family business from your perspective.



00:22:37.340 --> 00:22:45.909

Michael Palumbos ChFC, CBEC: what are the what are your favorite parts about being part of the family business that we that are they just for you, just resonate



00:22:46.110 --> 00:22:49.299

iPhone (4) I mean a lot a lot



00:22:49.390 --> 00:22:51.179

iPhone (4) every morning when I get up.



00:22:53.010 --> 00:22:55.280

iPhone (4) there's a passion for it.



00:22:56.460 --> 00:22:59.999

iPhone (4) I love our employees. I really do



00:23:00.080 --> 00:23:04.129

iPhone (4) especially now like you don't realize how



00:23:04.550 --> 00:23:07.719

iPhone (4) I i'm sorry. So now I realize it. But



00:23:07.760 --> 00:23:19.060

iPhone (4) you know, years ago, you you kind of not that you took them for granted the people that work for you for granted because they're there, you know you. I I've always had a passion for people. Now I really



00:23:19.150 --> 00:23:20.820

iPhone (4) personally enjoy



00:23:20.990 --> 00:23:28.020

iPhone (4) each one of them for their own reasons, you know, is one of them, maybe a little bit slower at this than that. Yes, but



00:23:28.160 --> 00:23:30.049

iPhone (4) they come here every day.



00:23:30.230 --> 00:23:36.359

iPhone (4) we have, you know we're we're. We're at about 30 employees right now. But these people



00:23:36.520 --> 00:23:46.119

iPhone (4) they work so hard. And I I think there's a kind of a Renaissance coming back to family owned and independently owned businesses.



00:23:46.250 --> 00:23:50.679

iPhone (4) and and the main reason I can, I can say that is so right now.



00:23:50.950 --> 00:23:52.420

iPhone (4) Our head baker



00:23:53.000 --> 00:24:06.289

iPhone (4) was an employee of of a a another bakery in ta. So so I have 3 guys all in our bakery that have all worked for other Bakery's family owned bakeries that you know a couple of them are gone.



00:24:07.480 --> 00:24:10.370

iPhone (4) They just they draw to the family



00:24:10.580 --> 00:24:13.060

iPhone (4) the family atmosphere, I guess you know.



00:24:13.340 --> 00:24:14.180

iPhone (4) Bye



00:24:14.810 --> 00:24:21.960

iPhone (4) it I mean it's it's short and simple. I like just the the personalities, you know, are really real.



00:24:22.220 --> 00:24:22.950

iPhone (4) I



00:24:23.340 --> 00:24:30.490

iPhone (4) it's really what draws me here every day. again I love service. I love people



00:24:30.660 --> 00:24:44.229

iPhone (4) again kind of a Renaissance. So I have somebody working up in our bakery that was working for me When she was 15 years old she left for a few years. She came back because that service, you know, taking pride, and



00:24:44.460 --> 00:24:46.790

iPhone (4) you know, putting



00:24:47.110 --> 00:24:55.360

iPhone (4) 40 restaurants or $40 worth of food, you know. Bread on a truck every day. It feels good, you know, watching that truck leave, and



00:24:55.660 --> 00:25:01.700

iPhone (4) walking in a grocery store and seeing your product something that you physically handled



00:25:02.140 --> 00:25:04.910

iPhone (4) at a grocery store 40 miles away.



00:25:05.070 --> 00:25:10.010

iPhone (4) is it? You know, and i'll get a text from from some of our employees, hey? I'm in Geneva



00:25:10.080 --> 00:25:15.600

iPhone (4) the bread that we made. This I'm: looking at the bread that we made it. It's it's beautiful, you know. It really is a good feeling.



00:25:16.920 --> 00:25:17.670

iPhone (4) yeah.



00:25:19.740 --> 00:25:23.380

Michael Palumbos ChFC, CBEC: Aside from business



00:25:24.250 --> 00:25:29.520

iPhone (4) my mom's beef cotlets at the holidays we



00:25:29.570 --> 00:25:37.150

iPhone (4) again. The holidays are rough. December is rough, but on Christmas Eve and Christmas morning



00:25:37.540 --> 00:25:45.629

iPhone (4) walking in and not having to worry about making food because my mother took care of it. You know catal of sauce or that's that that. And



00:25:45.680 --> 00:25:56.000

iPhone (4) a on a personal level with my immediate family, my kids Once the holidays are over, that that waking up and cnn is beautiful, you know.



00:25:56.170 --> 00:25:56.850

iPhone (4) Yeah.



00:25:57.130 --> 00:26:02.350

Michael Palumbos ChFC, CBEC: agree as you're looking at your business



00:26:03.640 --> 00:26:11.040

Michael Palumbos ChFC, CBEC: 10 years from now, 20 years from now, what it you know, or or even right this moment. What are you seeing is like your biggest



00:26:11.430 --> 00:26:29.600

iPhone (4) priorities? Yeah, let's start with that. What right now for looking just on the 3 years. What's the what are your biggest priorities for the next 3 years? Yup Again, constantly pivoting, constantly putting our energy and our resources back into the business the way we have the last 30 years. our next



00:26:29.760 --> 00:26:35.599

iPhone (4) our next priority. we we own a piece of property up the street. We'd love to



00:26:35.720 --> 00:26:51.930

iPhone (4) kind of put our business in that. We've been running for the last 18 years. we really want to get get house the business and our own piece of property this way in, you know, 30 40 years when my brother and I are ready to kind of hang it up or do whatever we'll have



00:26:52.030 --> 00:27:07.690

iPhone (4) a really nice portfolio with, with our own property to kinda either pass on to our the next generation. The fifth the fifth generation, or you know just again making that the best financial decisions is going to be our our, our our main goal, so



00:27:07.880 --> 00:27:08.630

Michael Palumbos ChFC, CBEC: great.



00:27:08.690 --> 00:27:17.520

Michael Palumbos ChFC, CBEC: What you see is your the the the pains for you? What! What keeps you up at night? What are the obstacles right now?



00:27:17.700 --> 00:27:22.879

iPhone (4) I mean just constant food cost. You know the food that the issues of food cost.



00:27:22.920 --> 00:27:31.889

iPhone (4) the the uncertainty of God God forbid something! You know a catastrophe were to happen again.



00:27:31.910 --> 00:27:38.170

iPhone (4) I mean, we'll get through it. We all we have, like. I told you before all those different things that this business has gotten through



00:27:38.210 --> 00:27:42.700

iPhone (4) right now. I feel like we're stronger than ever.



00:27:42.910 --> 00:27:46.350

iPhone (4) helps. Good. I honestly like



00:27:46.580 --> 00:27:54.570

iPhone (4) when you're on your own business. It's you. You know what I mean. So you know, and that's what I you know. I try to convey that to the people that work for us.



00:27:54.600 --> 00:27:58.259

iPhone (4) and I mean, not selfishly, but you know



00:27:58.800 --> 00:28:12.509

iPhone (4) it's on us. So we're gonna do what we have to do, my my brother, myself, and and and my father to to to to let we'll stress out. But there's really we feel good right now, really do. Yeah, we're we're heading the right way.



00:28:13.040 --> 00:28:15.349

Michael Palumbos ChFC, CBEC: Are you? Are you a reader at all.



00:28:15.380 --> 00:28:16.859

iPhone (4) I am. I love to read.



00:28:17.020 --> 00:28:24.430

iPhone (4) Have you read the book? So I have something for you that I I try to impart little pieces that you know you. You're giving us your time.



00:28:24.620 --> 00:28:29.300

Michael Palumbos ChFC, CBEC: finished up reading a book called Extreme Ownership by.



00:28:29.440 --> 00:28:32.429

iPhone (4) Have you read that, Jaco? Well, Nick, you said



00:28:32.610 --> 00:28:36.009

Michael Palumbos ChFC, CBEC: Willick. He's in. He's a former navy seal.



00:28:36.190 --> 00:28:46.139

Michael Palumbos ChFC, CBEC: and he it. He does a great job of helping owners understand leadership.



00:28:46.450 --> 00:28:53.169

Michael Palumbos ChFC, CBEC: and that you know, up and down the chain. So it's like a 100%. It's always on you



00:28:53.230 --> 00:29:02.660

Michael Palumbos ChFC, CBEC: and a 100%. It's always on everybody else on the team and figuring out how to to transition to that period at that time.



00:29:02.670 --> 00:29:16.149

Michael Palumbos ChFC, CBEC: and that that you know to have that fully functioning team up and down the chain is a is a really helpful. It just makes you unstoppable. I just wrote it down. I'm gonna read it. And actually you said that guy's name.



00:29:16.160 --> 00:29:33.519

iPhone (4) He is on probably your biggest competitor, podcast on spotify that I have. Listen to an interview with him. So, you guys are far off from that podcast. I don't think so. But i'll i'll have to check out. Jaco. Yeah, trying to think. Let's see what else



00:29:38.420 --> 00:29:43.300

Michael Palumbos ChFC, CBEC: we talked about family in and out of the business.



00:29:43.680 --> 00:29:50.170

Michael Palumbos ChFC, CBEC: it it! You're a reader. So what are you favorite books that you've read in the last year or so?



00:29:50.230 --> 00:29:53.430

iPhone (4) Yup, so I love



00:29:53.490 --> 00:30:09.230

iPhone (4) The outliers is really an awesome book. Malcolm Gladwell did an unbelievable job, and so we're a hockey family. So there was constant hockey references back to that. that that book was amazing. i'm trying to think



00:30:09.240 --> 00:30:17.929

iPhone (4) I mean. I usually read it once a year, but one flew over the cuckoo's nest. I love Jack Nicholson in the movie, but that book is is unbelievable.



00:30:18.030 --> 00:30:25.970

iPhone (4) I love Bios. I love business. Bios i'm a big music guy. So i'd say



00:30:26.380 --> 00:30:36.560

iPhone (4) anything with like Jerry Garcia the grateful that just again that was us a a business engine that kind of took place, and they didn't even want it to happen, and they just got.



00:30:36.680 --> 00:30:55.960

iPhone (4) and they still make money. They still make money. Now, I mean you could. you know they're still working hard to make. I I see everything with the grateful dead, you know. Symbol on it, you know they're just. They're constantly trying to it's just a it's an engine that they just kind of keep going. Yeah.



00:30:57.440 --> 00:30:59.350

Michael Palumbos ChFC, CBEC: I got it.



00:30:59.670 --> 00:31:03.639

Michael Palumbos ChFC, CBEC: If you're talking to another family business that was just



00:31:03.670 --> 00:31:19.959

iPhone (4) going through some tough times, or just looking for advice. They they they're getting together. What is your advice to other family businesses.



00:31:20.120 --> 00:31:21.490

iPhone (4) but you know.



00:31:21.580 --> 00:31:31.429

iPhone (4) and and this is no nothing against these companies that make this work. But you drive by a fast food restaurant. You see a line, you know a line of cars waiting there.



00:31:33.000 --> 00:31:43.589

iPhone (4) My advice to people is really push the fact that you are a family business, whatever, not not saying that you're looking for you know.



00:31:43.800 --> 00:31:47.940

iPhone (4) you know, hand out, or or you know, people to feel sorry for. Yeah.



00:31:49.010 --> 00:31:57.419

iPhone (4) really, let people know that there's and, like I mentioned earlier with our our staff that takes takes pride in seeing our the product that they handled



00:31:57.660 --> 00:32:06.060

iPhone (4) at a store 40 miles away. Really, let people know that you're a family that hands on family, and you're



00:32:06.250 --> 00:32:19.020

iPhone (4) I mean, whatever you could do to convey that to your, to your to your customers that I mean we try our best at it. But I you know my dad, myself, and my brother. We're here every day, so we're shaking people's hands. We're talking to people



00:32:19.150 --> 00:32:26.889

iPhone (4) it th that's something that's gonna be missed if it's, if it's gone, you know. And and



00:32:27.000 --> 00:32:28.209

iPhone (4) I don't know if that's



00:32:28.300 --> 00:32:43.589

Michael Palumbos ChFC, CBEC: I mean. Let me add to that. No, no, this is great. So 2 things one. There's a company out the company out there, Edelman, it They they They put a document out there called the Edelman Trust



00:32:43.600 --> 00:32:51.210

Michael Palumbos ChFC, CBEC: Factor, or something like that. And they basically family owned businesses have like a 40% more. Trust



00:32:51.290 --> 00:33:10.100

Michael Palumbos ChFC, CBEC: 20% more. Trust. I don't remember what the numbers, but significant amount more trust inherently from both their their their team members, the employees and from their customers than than a privately or than a non privately held company or a You know, a publicly owned company.



00:33:10.110 --> 00:33:18.579

Michael Palumbos ChFC, CBEC: They're just different, you know, and they people get that. So the fact that you're putting family on down there I would even take it a little step further.



00:33:18.600 --> 00:33:20.640

Michael Palumbos ChFC, CBEC: Tell the stories.



00:33:21.370 --> 00:33:34.759

Michael Palumbos ChFC, CBEC: you know, especially, you know, on your packaging on things so that people get that. I just was at a friend's house on Friday night over the weekend, and he hands me a beer a Sierra Nevada Brewing Company beer.



00:33:34.800 --> 00:33:43.490

Michael Palumbos ChFC, CBEC: I don't know if you've ever had one of those. But at the top of the can. It says family owned and operated and argued over.



00:33:43.500 --> 00:33:56.919

Michael Palumbos ChFC, CBEC: I snapped a picture of it, and I throw down my You know my linkedin pro, you know, platform, and it just kind of took off over the weekend. How many people really liked, you know that idea so



00:33:58.090 --> 00:34:10.960

Michael Palumbos ChFC, CBEC: shine shine a light on that. Make it proud. Tell the stories. You know your great great grandfather, your grandfather. They've gone through, and they've done things in your grandmother and into your grandmother's.



00:34:10.969 --> 00:34:26.119

Michael Palumbos ChFC, CBEC: you know, secret sauce that they decided that they're gonna bring in. And then, you know, let people know those stories I've seen in places where, like on the menu they talk about. Why, this you know



00:34:26.130 --> 00:34:55.240

Michael Palumbos ChFC, CBEC: you know it's this isn't just yonki. This is our grandmother's who did ABC. And her name was this, and she was from here, and that that really helps people an awful lot. Stories. I'm. I'm a big fan of that. I've learned telling stories. This is why I do the podcast. I want your story to be out there, because I want people to know. You know who's just at these bakery and their family own. It's for a generation today, and hoping to go to the fifth generation. And



00:34:55.510 --> 00:35:13.309

Michael Palumbos ChFC, CBEC: you know, like to your point. You know, family business is the economic engine of upstate New York that can engine across the world more, you know. There's more family on businesses out there than anything else. It's like 68 or 70% of all businesses are family owned at some level.



00:35:13.500 --> 00:35:26.620

Michael Palumbos ChFC, CBEC: But in upstate New York, I think, you know, with everything that we've been through through the years between losing Kodak and xerox not being as big. And you know I all of that stuff. We used to be this big blue collar, you know



00:35:26.630 --> 00:35:56.089

Michael Palumbos ChFC, CBEC: community, and we're not anymore. But it's that family businesses that have stepped up and got innovative and thought about things differently. That is really made a difference. So I hats off to you and your family for everything that you've been doing for the community. Those you know, the jobs that you have through the years. Think about how many people were employed through the years, not just this year right now, but for the 100 years that you guys have been doing this stuff, whether it was just your family or others. That's a lot of help



00:35:56.100 --> 00:35:57.270

to this community.



00:35:57.370 --> 00:36:03.349

iPhone (4) Yeah, that's beautiful, Mike. That that's a a a great way of putting it a great way to think about it.



00:36:03.610 --> 00:36:14.760

Michael Palumbos ChFC, CBEC: just talking this podcast. I might open the store up today. We're closed officially, but i'm going to. I'm glad



00:36:14.780 --> 00:36:16.509

Michael Palumbos ChFC, CBEC: I You know I



00:36:16.620 --> 00:36:20.619

Michael Palumbos ChFC, CBEC: I really. I think we covered everything you're doing doing a great job.



00:36:20.630 --> 00:36:36.879

Michael Palumbos ChFC, CBEC: I, you know, continue being the dad do it, being the husband, doing the things that you do, and running the business. And you know don't be afraid, in my opinion, to turn it into, you know, 10 times a 100 times what you're doing today.



00:36:36.890 --> 00:36:44.239

Michael Palumbos ChFC, CBEC: but that book, you know extreme ownership will help you to to juggle some of that stuff.



00:36:44.320 --> 00:37:03.780

Michael Palumbos ChFC, CBEC: And there's, if if ever you know one of the things that you know, I tell all of our guests is that once you're an alumni of the show, you have the the resources of our business at your disposal anytime that you need it. We're here to help you guys and i'm one of those gotten you know i'm i'm i'm a



00:37:03.790 --> 00:37:13.940

Michael Palumbos ChFC, CBEC: self-proclaimed geek about business. I love everything about it and so I probably read



00:37:15.400 --> 00:37:26.559

Michael Palumbos ChFC, CBEC: not a book a week, but you know i'm probably every 2 to 3 weeks reading a book. and my my intern, who started with me like late November early December.



00:37:26.620 --> 00:37:29.530

Michael Palumbos ChFC, CBEC: He's like since I've been here. You've



00:37:29.740 --> 00:37:44.820

Michael Palumbos ChFC, CBEC: read for books, and are telling me all these ideas from those books, and what you're learning from them he goes. You ever stop. I'm like so like you, you know you want to open up the restaurant. I'm like I want to come in and help. I'm gonna put on that, you know. Put me with you, and



00:37:46.680 --> 00:37:48.949

Michael Palumbos ChFC, CBEC: it's fun, and my my wife is like



00:37:48.980 --> 00:37:51.919

Michael Palumbos ChFC, CBEC: I can't believe how much you enjoy



00:37:52.000 --> 00:37:59.579

Michael Palumbos ChFC, CBEC: serving these people, and and and and and learning about business, and trying to help these people do what they're doing. I'm like



00:37:59.780 --> 00:38:19.610

iPhone (4) part of it. So I might that that that that that that that that that that that that that that that passion that's for sure I tell my wife every day. It's it's the old saying. But like if you love what you do, she'll say, how was work today? I didn't work today, you know.



00:38:19.720 --> 00:38:28.530

iPhone (4) Corny, and all. But literally, I don't feel like I worked, you know I just I I don't know I still have the passion. I love it. You do too clearly you do a great job. So



00:38:28.800 --> 00:38:34.939

Michael Palumbos ChFC, CBEC: alright. Well, well, thank you, Marcy, Appreciate you joining us today.



00:38:34.980 --> 00:38:52.180

Michael Palumbos ChFC, CBEC: so again it was Marcy, with Giuseppe's bakery in Gates New York, please everybody, you know. If you get a chance you're driving through there, just go stop it and grab something. Go to go to launch it Wednesday to Saturday.



00:38:52.190 --> 00:38:58.679

Michael Palumbos ChFC, CBEC: really good, good, good, good stuff. I, My wife and I will be out to to check it out for sure.



00:38:58.720 --> 00:39:06.539

Michael Palumbos ChFC, CBEC: My name is Michael Columbus. this is with family wealth and legacy, and Rochester, New York. And this has been the family. This show



00:39:06.720 --> 00:39:21.800

Michael Palumbos ChFC, CBEC: tune into next. You know the next episode, everybody we love sharing these stories, and if you know somebody that should be on the show, you know if you've got a family business that you know you know and love, and they they should be sharing their story. Please tell them to get in touch with us.



00:39:21.870 --> 00:39:24.630

Michael Palumbos ChFC, CBEC: Thank you, everybody, and have a great day.



00:39:24.670 --> 00:39:25.569

iPhone (4) Hey, Michael.

If you’re a family business or a family business consultant and want to be on the show, share your story and help other family businesses, send us an email to or fill out a contact form here!

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Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy, LLC is not an affiliate of Lincoln Financial Advisors Corp. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.