A Program That Pays
PEI’s Young Executives Program prepares the next generation of industry leaders.
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| Proof that Young Executives are all in the same boat. The group took a scenic cruise during the 2008 conference in Cancun. |
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If spending a weekend in Cancun, Mexico, Clearwater Beach, Florida, or San Jose, Costa Rica, with a group of 21- to 45-year-olds sounds more like spring break than business, you’re probably not familiar with PEI’s Young Executives Program.
Currently made up of 95 members who represent 67 PEI member companies in three countries, the Young Executives Program has been preparing industry leaders to take on leadership roles in member companies since its creation in 1997. The Young Executives meet twice annually: at the Winter Conference in February and in the fall for the Young Executives Roundtable and Reception at the PEI/NACS Show.
The PEI Journal talked to 17 Young Executives, some who are new to the Program and some who’ve been enjoying the perks since the Program’s inception. As the Young Executives explain, membership in the Program has inspired innovative business ideas, enhanced bottom lines, led to big sales and formed close working relationships. But besides the networking, which members describe as “invaluable,” and the educational seminars (“amazing industry insights”), members of the Young Executives Program told us about the Program’s most valuable benefits, that go far beyond their expectations.
Top 10 Reasons to Join the Young Executives Program |
- Hot Topic Discussions
- Presentations by Nationally Recognized Speakers
- Educational Seminars
- Business Contacts That Turn into Friends
- Meet PEI Staff
- Innovative Business Ideas
- Guilt-Free, Learning Time Away from the Office
- Young Executive Reception and Roundtable at PEI Convention
- International Networking
- The 2009 Winter Conference in Costa Rica
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Membership Pays for Itself
While members of the Young Executives Program report that membership has enhanced their companies’ overall profitability, the financial return is sometimes more apparent—and immediate. For Jeff Schmidt, territory manager at Walsh, Long & Co. (Wayland, MI), the reward for his attendance at the 2008 Winter Conference in Cancun, Mexico, was literally waiting for him back at home. “At the conference, I talked with another Young Executive about a project he’d been working on,” says Schmidt. “We got comfortable with each other, and when I arrived home, I found that he’d already placed an order for $6,000 worth of tank gauges.”
Mickey Meyer, vice president of M&M Service Station Equipment (Silver Grove, KY), explains how creating contacts through the Program has expanded business. “We often get referrals from other Young Executive member companies,” he says. “When you have a personal relationship with someone at another company, you feel confident giving a referral.”
Learning new business practices, or how to improve old ones, can also boost the profit margin, something Jim Kerth, sales manager at Kubat Equipment & Service Co. (Denver, CO), knows firsthand. “At one of the last conferences, I talked to another Young Executive about dewatering tank-hole excavations,” says Kerth. “His company had been doing it for years. He convinced me to try it, and it’s really improved the way we bid construction projects, saving both time and money.”
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| At the annual Winter Conference, networking takes many forms. Young Executives prepare to kayak at the 2006 conference in Cabo San Lucas, Mexico. |
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Young Executives Are Better Firemen
For PEI member companies, especially those that specialize in service, reacting to problems as they occur is included in the job description. “Being in the service business, you can’t plan on a whole lot,” says Matt Baird, service manager at Baird Petroleum Equipment (Richmond, VA). “We’re responding to service calls at a moment’s notice, and we just have to go with whatever the day brings.” But as the Young Executives learned last February in Cancun, planning ahead and being proactive can not only increase the efficiency of your business, but can also reduce the stress that comes from being a “fireman,” constantly putting out fires on the job.
In “Seven Irrefutable Rules of Business Growth,” speaker Steven S. Little explained how to create an infrastructure and make changes before issues arise. Says Matt Koziel, project manager at Oscar W. Larson Company (Clarkston, MI), “Even as a service company, we learned that it’s possible to plan ahead, so that business isn’t quite the ‘fire drill’ that it typically would be.”
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“I’ve been part of the business since I was 12, when my official title was ‘gopher.’ The other Young Executives know what it’s like to grow up in the industry.” |
| – Kristen Waddle, RDM Industrial Electronics |
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The Focus Group Is Built In
Nobody knows the industry better than those on the inside. So when Young Executive members want to implement new software, start bar code scanning or install GPS, the members of the Program provide a “ready-made focus group” of industry professionals who know from experience what works and what doesn’t. “My company was tossing around the idea of using GPS in our service vehicles,” says Mani Sundaram, vice president of operations, Double Check Company (Kansas City, MO). “I talked to the members who were already using GPS and weighed the pros and cons,” says Sundaram, whose company eventually decided to install GPS devices. “Talking to my peers was the best way to do research.”
According to Sherrie Keller, business manager at M&M Service Station Equipment, input from the other Young Executives influenced her company’s decision to implement inventory barcoding. “Barcoding was something we talked about at one of the conferences,” says Keller. “The feedback helped us get to the next level with our inventory.”
Patrick Reese, chief financial officer at Guardian Fueling Technologies (Jacksonville, FL), considers the Program an opportunity to compare and contrast business performance with other executives. He says, “Networking functions are a chance for me and my company to grasp the overall measures that determine business health, and then improve our performance accordingly.”
For Lee Geurts, marketing manager at Krueger Sentry Gauge Co. (Green Bay, WI), sharing ideas with other Young Executives provides some much-needed perspective. “As marketing manager, it’s easy to think only in those terms,” says Geurts. “Talking to other executives helps me step outside the marketing world and learn about other aspects of the industry.”
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| “Any time I can call up a manufacturer with a problem and talk to someone I know on a personal level, it gives me and my company a huge advantage. Everything just seems to go a bit smoother.” |
| – Bryan Newcomb, Petroleum Marketers Equipment Co. |
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Young Executives Get to See the Future
Like changes in the weather pattern, economic trends tend to strike different parts of the country at different times. When management at the Oscar W. Larson Company began to notice a decline in the retail side of the industry in early 2000, the Michigan-based distributor began to expand its operations into construction, car wash installations and government work. “The recession seemed to hit Michigan first,” says Project Manager Matt Koziel. “So I was able to bring some information to the group about expanding into those different markets long before other states faced the same issues with retail.”
Alan Betts, sales director for Veeder-Root (Grand Haven, MI), credits the Program’s diverse membership base as a valuable indicator of industry trends. “Changes in the industry affect every company in different ways,” says Betts. “From talking to other members, I’ve learned that the way we deal with each individual distributor cannot be generic.”
For J. Benjamin Hieber, operations manager at PWI Inc. (New Oxford, PA), the opportunity to learn about industry trends doesn’t stop at Young Executive events. “I speak with at least a dozen Young Executives on a regular basis to see what’s going in their areas,” says Hieber, “to see where the industry is headed.”
How Do I Join? |
To qualify for membership in PEI's Young Executives program, you must be a full-time employee of a PEI member company between the ages of 21 and 45, inclusive, and be currently serving, or expect to serve, in a management or executive position in the industry.
Membership in the Young Executives Program is $100 a year.
Visit www.pei.org for more information. |
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“Friendly Competition” Is Not an Oxymoron
According to members, networking among the Young Executives is about more than simply padding the company Rolodex. Young Executive members refer to one another as “allies,” “friends you can lean on,” and even “friendly competition.” And in an industry that’s built on relationships, those connections go a long way.
For Brian Travis, regional sales manager at Eaton Sales & Service (Denver, CO), the friendships formed in the Young Executives Program make other industry events more valuable. “When I walk around at the PEI/NACS Show, I know a lot of people from the Program,” says Travis. “So I can expand my network even further.”
“Sometimes we have competitors in the Program,” says Susan Maples, corporate secretary at RBM Company (Knoxville, TN). “But all the Young Executives are there to learn from each other, regardless. At conferences, we’re all on even ground.”
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| “The educational seminars help Young Executives make smooth transitions into leadership positions when the time comes.” |
| – Susan Maples, RBM Company |
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Young Executives Can “Relate”
“Unless you’re in a family-owned business, you can’t appreciate how difficult it can be,” says Baird Petroleum Equipment’s Matt Baird. Because many Young Executives are, or will become, second-generation business owners, they can relate to the everyday challenges unique to family businesses. As Bryan Newcomb, construction manager at Petroleum Marketers Equipment Co. (Oklahoma City, OK), puts it, “It’s a whole different ballgame when you’re working for your dad!”
Geared toward employees of family-owned companies, seminars about the struggles within family businesses, including the transition of ownership from one generation to the next, are a key component of Young Executive membership.
Young Executives Understand the Software Struggle
PEI members know that choosing software to run their businesses is no easy task. But as Young Executives explain, the process feels less like an uphill battle when they are surrounded by peers who know the struggle.
“I was searching for something that could tie our five offices together administratively,” says Matt Baird. “I bounced some ideas off everyone at the 2008 Conference and decided on SAP.” Jodi McDonald of Oil Equipment Co. (Madison, WI) had a similar experience. “We use MAS 200, and it’s extremely beneficial to talk to Young Executives who use the same software.”
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“It felt like Steven Little was describing my life when he was talking about all the problems that arise in family businesses. I wanted to kick myself for not joining the Program sooner.” |
– Matt Baird, Baird Petroleum Equipment |
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Young Executives Can Boost Company IQs
After attending the 2008 Winter Conference in Cancun, Kristen Waddle, marketing director and web manager at RDM Industrial Electronics (Nebo, NC), brought home a smart new idea to improve RDM’s hiring process. “We started requiring mandatory Wonderlic tests for prospective hires,” says Waddle. The Wonderlic Personnel Test is a 12-minute, 50-question intelligence test used to assess the aptitude of prospective employees for learning and problem-solving. Says Waddle, “It’s already saved us money.”
Liz Bonelli, sales & applications engineer at OMNTEC Mfg. (Ronkonkoma, NY), has had similar success with the development of an employee handbook. “The idea was brought up at a seminar about management, and it was a huge step for us in helping to better manage our employees.”
Members Leave Conferences with New Perspective and Pride
“Just like PEI membership, the Young Executives Program is a tool,” says RBM’s Susan Maples. “And anyone who attends a Young Executives Conference leaves with a new perspective and a sense of accomplishment and pride in what we face every day in the industry. It’s truly the greatest program I have ever been a part of.”
Need another reason to become a Young Executive? The next Winter Conference is scheduled for February 4-6, 2009, in San Jose, Costa Rica. Be a part of the networking, industry insight and new business ideas. Can you afford NOT to attend?
Costa Rica To Host 2009 Conference |
PEI’s two-day 2009 Young Executives Winter Conference will be held in San Jose, Costa Rica.
Scheduled for February 4-6, 2009, the Winter Conference will address the obstacles and challenges of the demanding petroleum equipment industry.
Steve McClatchy, an international speaker, trainer, consultant, writer and entrepreneur, will deliver the keynote presentation. In “Three Levels of Leadership,” McClatchy will discuss personal leadership, team leadership and interpersonal leadership, and help attendees improve the quality and productivity of their respective organizations. The ideas presented will be facilitated with interaction and real-world examples.
During the conference, members and their guests can explore beautiful Costa Rica while networking with other industry professionals. Attendees will enjoy a traditional night in Costa Rica with dinner and a show, as well as optional tours of the Centenario Rum House, the city of San Jose, a local coffee plantation and ziplining.
Voted as one of the top 10 hotels in Mexico and Central America by Condé Nast, the Marriott Costa Rica features a colonial hacienda set on a 30-acre coffee plantation. Room rates at the Marriott Costa Rica are $210 for single or double occupancy. Registrations and all rooms must be booked no later than December 12, 2008. Reservations may be made by calling 011-506-2298-0844 or emailing reservas.costarica@marriotthotels.com.
The Winter Conference registration fee for PEI Young Executives is $375 through December 12. Registrations received after December 12 is $575. To register for the conference, visit www.pei.org/ye or call PEI at 918-494-9696.
PEI’s Young Executives Program has been offered for 11 years and is open to full-time employees of PEI member companies who are between the ages of 21 and 45 (after age 45, members can be grandfathered into the program) and are currently serving, or expect to serve, in a management or executive position in the industry. The cost for membership in the Young Executives Program is $100 per year, which offsets the difference in member and non-member registration fees for events like the Winter Conference.
Members of the program also receive the YE Spotlight, an electronic newsletter that focuses on timely topics in the industry. |
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