Helping Businesses & Nonprofits Reduce Operating Expenses with Andy Charles and Russ Lindmark | Live with Bottleneck
On this episode of Live with Bottleneck, our guests Andy Charles and Russ Lindmark have a conversation on how businesses and nonprofit organizations can tackle the issue of reducing operating expenses.
Andy Charles worked in senior manufacturing management roles before buying and operating an iconic Maine chocolate company. He now focuses on helping organizations grow through expense reduction through his company, Central Avenue Advisors.
Russ Lindmark is the Founder of Optimally, which focuses on expenses management technology for the past dozen years and has saved businesses over $150M through the development and deployment of benchmarking and Big Data tech.
So if you want to learn more how you can reduce operating expenses but still run your business optimally, stay tuned to this episode.
Who is Andy Charles?
The conversation starts off with Andy explaining his expertise as an Expense Reduction Advisor.
“The focus of an Expense Reduction Advisor is on helping businesses and organizations grow through expense reduction, generating new streams of revenue, or streamlining processes to make it more efficient.” – Andy Charles
Andy mentions that what Russ’ and Jaime’s business do are somewhat similar, but takes different approaches to achieve it. That is why he is very excited when he was introduced to Russ’ company (Optimally) by a mutual colleague.
Who is Russ Lindmark?
Andy Charles then does the introductions for Russ Lindmark and his company, Optimally. Andy is also amazed at what optimally can do, particularly for smaller to medium-sized businesses.
“What Optimally is doing is something that small and medium-sized businesses have never had access to before. If you were going to buy a house you’d go to Zillow. Or if you’re going to buy a car, you’d go to Autotrader or Edmonds. You do so because all the data is there. If you operate a business, you don’t have access to the same kind of resources. Or at least you didn’t until now.” – Andy Charles
The beauty of which is that Russ and Optimally can even help non-profit organization with the service that they offer, as you won’t go broke hiring consultants who demand premium prices.
Expense Reduction
Russ explains that a lot of businesses that are aiming for growth, particularly during the start or a sudden boom of the business, don’t really pay much attention to expenses. Russ and Optimally have found a way to help quantify and compare those values, so you can check if you are getting the proper returns or overreaching, so to speak.
“We’ve started working on technology about a dozen years ago focused mostly on shipping expenses. That’s where we discovered the power of benchmarking technology that allows you to compare your own expenses to the expenses of thousands of like businesses. We sold that business in 2018. But I’ve always had this idea that I wanted to try to do it more broadly than just one expense category.” – Russ Lindmark
So Russ got to work with expanding and streamlining his idea, and after 9 months of beta testing, they moved into the operational phase. Russ was blown away by the results, and the impact it could do for small businesses and the like.
To hear more from Andy Charles and Russ Lindmark on how to reduce operating expenses optimally, continue watching this episode.
Bio
After studying engineering and serving in the Navy Submarine Service, Andy Charles worked in senior manufacturing management roles before buying and operating an iconic Maine chocolate company. He now focuses on helping organizations grow through expense reduction.
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Russ Lindmark is the Founder of Optimally, Russ has focused on expenses management technology for the past dozen years and has saved businesses over $150M through the development and deployment of benchmarking and Big Data tech.
Throughout his career, Russ has founded multiple software start-ups, with highlights including 3 separate companies reaching $20m in revenue each, and 4 exits with an enterprise value of over $250M. Russ has spent the last 25 viewing problems through the lens of opportunity. Surrounding himself with really talented people is the key to everything he builds.
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About Jaime Jay
Meet Jaime Jay – a man who wears many hats, and wears them all admirably. He's a master connector, an entrepreneur extraordinaire, and a published author who knows how to get things done.
Before he found his way to the business world, Jaime served his country as a brave paratrooper in the U.S. Army. But that's just the beginning of his many accomplishments.
He's the founder of the renowned Bottleneck Distant Assistant Services firm, and his book "Quit Repeating Yourself" has become a must-read for entrepreneurs everywhere.
When he's not busy building his empire, you can find him on his beloved Harley Davidson, cruising through the countryside and taking in the invigorating effects of Uitwaaien – a Dutch practice that involves facing the wind to boost health and relieve stress.
He enjoys spending his free time outside building stuff with his wife, Nikita the dog and their two kittens (for now at least) Tommy and Tater.
He is ‘over-the-moon’ happily married to his wonderful wife Sara, his amazing daughter, Jessica, who is serving our country as a United States Army soldier. Jaime and Sara are the proud grand parents of two beautiful little girls.
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Quit Repeating Yourself provides guidance for entrepreneurs, business leaders, and managers to help prevent unknown challenges from ruining their business.
