Russ Yeomans & Andrew B. Kimbell
Russ Yeomans and Andrew B. Kimbell stopped by Jim Williams entrepreneurship class to talk to the student’s about business ventures.
Overview of Russ: Yeomans’ talk:
As a decade ago Georgia Southern graduate, Russ shared his learning experiences that he’ll never forget from his College of Business classes. He emphasized the importance of building relations (networking) with customers, bankers, suppliers and others in your own industry. Also he emphasized the importance of fully understanding the business your are in. Even though he is now president of a family owned company, he started in the field gradually working up to vice president of operations and in 2007 becoming president. He agreed that you have to ready and able to handle long days & nights in 7-day weeks with some regularity. The challenges of working with and through local, State and Federal agencies and their regulations will always be an entrepreneur’s to stay ahead of while having fun.
Overview of Andy Kimbell’s talk:
Andy became an entrepreneur by purchasing an existing business versus starting up a new company. He stressed that this is the time for the students to be looking into possible acquisitions of baby boomers’ businesses as they began to wish to retire. But in preparing for such a day/opportunity; Andy emphasized that everyone should already be setting aside monies on monthly basis and saving it. With that savings as ‘skin in the game’ you can negoiate from a better standpoint with a business seller. Another important item to him includes building your skills. In particular always use the Discounted Cash Flow analysis of any company you are considering purchasing as well as the art of Assessing Risks. He too emphasized networking in conjunction building long lasting relations.
Russ Yeomans
Russ had a brief stint with Ag South Farm Credit. Then he returned to the family business – Yeomans Wood & Timber, Inc. Russ worked as a field forester managing logging crews and procuring timber. In 2003 he became VP of operations and served in that capacity until 2007 when he became President of the company. Russ is a member of the GA Forestry Association’s Logging and Transportation Committee. He also serves by appointment of the Lt. Governor to the Altamaha Regional Water Council. He currently serves as treasurer of the Swainsboro/Emanuel County Chamber of Commerce Board and is an active member of FBC Swainsboro. He and his wife Stacy reside in Swainsboro.
Yeomans Wood and Timber : For all your Forestry Needs
Yeomans Wood and Timber maintains a philosophy of conservation and utilization directed toward safe and healthy management techniques to provide ongoing, and fundamentally positive influence for the timberland, the customers, vendors and contractors, and employee’s families. The company focuses its attention primarily on timber harvesting, timber management, site preparation, reforestation, and timberland sales. The company is well-staffed with three registered foresters and five forest technicians who are very capable of helping the customers with any of their forestry needs.
Andrew B. Kimbell
Advanced Veneer Technologies, Inc. (1995 – Present) Truax Veneer CO: Andrew, President and Owner, purchased and reopened a closed factory turning a formerly unprofitable operation into a profitable “best-in-class” producer of hardwood veneer products. Doubled productivity per hour and expanded markets into Canada, Mexico and the Western United States.
Truax Veneer Company is one of the premier manufacturers of hardwood rotary veneer cross-bands. Selling direct to America’s best furniture and millwork companies our veneers are used in; fine furniture, rotary die boards, curved plywood, architectural millwork, commercial fixtures and cabinetry.
Appalachian Veneer and Lumber, Inc. (2002 – 2009): As President and Owner Andrew financed and purchased a mill that had ceased operations. Revamped production systems and increased productivity by 15% and yield by 3%. Expanded into new markets allowing the mill to continue operating for an additional five years in a dramatically shrinking market.
History
Andrew Kimbell was a Lieutenant Commander and a Naval Aviator in the United States Army. He was an Internal Auditor for Cargill, Inc. from ’80 – ’82 in Minneapolis, Minnesota. Andrew got a BS in Accounting from St. John’s University in 1980. He joined the U.S. Navy where he received Advanced Strike/Fighter Pilot Training by 1985. In 1995 he achieved a MBA from Duke University. Andrew Kimbell is a member of the Southeastern Technical College Board, Vidalia Onion Festival Air Show Committee, Darby Bank Advisory Board and the Toombs County United Way Board.
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Posted in Guest Speakers