Episode 19 - The Impact of a Strong Company Culture with Frederic Heller

Traversing Entrepreneurship

Frederic Heller is the President and owner of Northern Michigan Hospitality Management, a leading operator of destination, tourism, and transient properties. At the age of 25, Frederic became the General Manager of a hotel—he was an owner at 27. Under Frederic’s leadership, Northern Michigan Hospitality Management has become a Marriott-approved company with several hotels under its management. Frederic holds a Bachelor of Arts degree in Hospitality & Tourism Management from Grand Valley State University.

Frederic joins us today to describe his journey as an entrepreneur in the hospitality industry. He explains how he became interested in hospitality and how he learned about the impact of management principles and culture on a business. He outlines what makes management companies successful and explains NMHM’s “co-worker first” policy. He also highlights what it takes to create a healthy environment where employees feel happy to work and underscores the value of fair wages and paying workers above the market average.

“People aren’t necessarily loyal to organizations—they’re loyal to people. When people know that you care more than just their performance at work, that builds loyalty.” - Frederic Heller

This week on Traversing Entrepreneurship:

• Frederic’s background and journey in the hospitality industry
• The greatest thing about being an entrepreneur
• Eliminating middle management and why budgets should be a realistic working document
• Developing people from within and NMHM’s “happy at home, happy at work” culture
• Creating a culture that makes people happy to be at work
• The divorce rates among restaurant and hospitality professionals
• How Frederic has grown as an entrepreneur over the years
• Line-level labor challenges in the current economic climate
• Why people should dive into entrepreneurship as early as they can

Our Favorite Quotes:

• “You’re only as good as your worst employee.” - Derek Dall’Olmo
• “Being friends with the employees is a relatively new train of thought. Other generations think there’s a line you don’t cross with your employees; work is work, life is life.” - Melissa Niedzielski
• “Fair market wages are appropriate; trying to be cheap is the first way to unhappiness.” - Frederic Heller

Connect with Frederic Heller:

• Northern Michigan Hospitality Management
• Northern Michigan Hospitality Management on LinkedIn
• Frederic Heller on LinkedIn

About TreMonte Tax Solutions and Traversing Entrepreneurship Podcast

Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, host Derek Dall’Olmo sits down with local business ownerships and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.

Derek Dall’Olmo is the founder of TreMonte Tax Solutions, a tax planning firm that serves business owners and entrepreneurs. This show is for informational purposes only and should not be relied upon for investment decisions.

Email Derek Dall’Olmo at [e-mail] with questions, comments, and to schedule a one-on-one conversation.

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