CEO Profile: John Carrico
Twelve-year-old John Carrico started washing dishes in his father’s family restaurant in Martinsville, Virginia. This is where he learned the value of hard work and the importance of working with others to achieve a common goal. After graduating from UVA with a B.S. in Commerce, and later an MBA from the Darden School with an emphasis in marketing, he worked as a CPA and an audit supervisor for Coopers & Lybrand, and then for Signet Bank where he had achieved the title Vice-President of Installment Lending by 1997—the year he was recruited by Jim Ukrop.
Ukrop’s Dress Express was spun off from Ukrop’s Supermarket in 1998 to focus on designing, manufacturing, and marketing uniforms to supermarkets and other businesses. Among its clients today Ukrop’s Dress Express counts more than 50 food store chains—and more Top 75 supermarkets than any other uniform vendor—in addition to other major corporations, with over 1,000 uniform apparel and promotional product accounts across the country.
John is married to his high school sweetheart, Sheri, and they have two sports-minded teenage sons, Tyler and Drew. Tyler recently signed a scholarship offer to play baseball for UVA next year. John is an active spectator and coach for his son’s baseball teams, and is involved with his church and Noah’s Children, the area’s only palliative and hospice care program solely for children.
How do you define success?
Lifting others to achieve more—which, in turn, lifts the business to new levels.
In your opinion, what are the most important characteristics of a good leader?
A good leader leads by example, has passion and courage to act, has vision and sees around the corner, and is fair and consistent.
What is your biggest challenge as a CEO?
Tactically, the ability to manage the risk of world source production in an overseas climate that seems to be in constant turmoil and upheaval. Strategically, preventing complacency within your organization once you have achieved some levels of success.
Three words that describe me as a CEO are…
Driven, passionate, prepared.
Something surprising about my job is…
There’s a creative sense of style in what could be a “boring” uniform industry.
Best Virginia business dinner
Boar’s Head Inn
Recently read
The Last Lecture, by Randy Pausch and Jeffrey Zaslow
You’re hosting a dinner party for three famous people – current or historical. Who would they be and why?
Thomas Jefferson—he drafted the principles that laid the foundation of our country, and was an amazing statesman and visionary (and he designed a pretty awesome University in his hometown).
Walt Disney—he was the greatest creative genius ever, and it all started with a mouse.
Cal Ripken, Jr.—he is the total definition of persistence, drive, and hard work to achieve amazing success.
What is the best business advice you’ve received?
“The harder you work, the luckier you get,” from Jim Ukrop.
What motivates you?
Building teams to facilitate the achievement of sustainable success.
What makes your company unique?
We design and manufacture very good, custom uniform apparel products, and we provide great service to our customers—all by having a remarkable group of passionate associates driven to serve.
I can’t get through the day without…
My iPhone!
Guilty pleasure
Trips to DisneyWorld (more than I want to admit!)
Favorite websites
cnn.com, wsj.com, virginiasports.com, espn.com
Music to work by
Classic rock, like The Eagles
Volunteerism
Noah’s Children—Central Virginia’s only children’s hospice and palliative care program, Huguenot Little League (youth baseball coach),BonAirUnitedMethodistChurch
CEOs Share Optimism in Quarterly Survey
CEOs in central Virginia anticipate increases in capital spending and hiring during the next six months, but expect sales to remain relatively level due to concerns about slow growth and continued economic uncertainty, the 1st quarter 2012 CEO Economic Outlook survey reveals.
Top executives of small and mid-sized companies participating in the survey plan to hire more staff, and some 71 percent predict increased sales during the next two quarters, an increase from 68 percent last quarter. The results also show that slow growth is currently the most significant business issue CEOs face. While economic uncertainty is still a concern, it is no longer the most significant one, as in previous surveys, showing a 7 percent drop.
The Virginia Council of CEOs and University of Richmond’s Robins School of Business jointly conduct the quarterly survey, which helps central Virginia companies anticipate business decisions and plan for growth.
“We see in these data a continued trend of increased optimism (Outlook index of 94.10 relative to 88.63 in Q4 2011) that started in Q2 of 2011,” said Jeff Pollack, assistant professor of management at the Robins School, who calculated the results. “We see more CEOs predicting increases in capital spending and employment over the next 6 months. Economic uncertainty, slow growth, and staffing remain the primary areas of concerns noted by the current sample of CEOs.”
Pollack adapted the survey from the Business Roundtable, an association of CEOs of American companies that conducts a similar survey nationally.
The council and the Robins School collected responses from 93 business owners and CEOs in central Virginia. The average annual revenue year-to-date for CEOs responding was $9.7 million. The data were compared to the 4th quarter 2011 of 88 participants. Multiple industries are represented in the sample (for example, construction, manufacturing, finance and insurance, and retail).
“I am pleased to see the numbers this quarter,” said Scot McRoberts, executive director of the council. “Nearly 60 percent say that they will increase hiring. I think that is a very good sign in an environment where business owners are still reluctant to hire unless absolutely necessary. We have strung together three consecutive increases in the economic outlook index. That trend highlights the growing optimism I hear from area CEOs.”
The results also provide an overall economic outlook index, which is based on businesses’ projected six-month sales, spending and employment figures.
Economic Outlook Index
|
Survey Date |
CEO Economic Outlook Index
|
|
Q1 2012 |
94.10 |
|
Q4 2011 |
88.63 |
|
Q3 2011 |
81.17 |
|
Q2 2011 |
74.17 |
|
Q1 2011 |
85.63 |
|
Q4 2010 |
92.27 |
|
Q3 2010 |
94.47 |
|
Q2 2010 |
81.33 |
The council continues to expand the survey beyond its members, offering any area business owners whose companies gross at least $1 million in annual revenue the opportunity to participate. If enough businesses participate, the council will provide survey results by industry. Participation is free, and all participants will receive copies of the survey data.
Business owners and CEOs who would like to participate in the next survey should contact McRoberts at smcroberts@vaceos.org.
The Virginia Council of CEOs is a nonprofit organization, whose mission is to connect the CEOs of second-stage companies so they can learn from each other and grow their businesses. Learn more at www.vaceos.org.
The Robins School of Business is the only fully accredited, top-ranked undergraduate business school that also is part of a top-ranked liberal arts university. Bloomberg Businessweek ranks both the Robins School’s undergraduate and part-time MBA programs among the top 20 in the country in their respective categories. The school’s executive education division offers open enrollment courses and customized leadership development programs for individuals and businesses.
Verne, NPS, and 2 Cool Things
If you aren’t subscribed to Verne Harnish’s weekly email, do it now. He routinely shares compelling stories from fast growing companies (Gazelles), and shares the strategies, tools and tactics they use to be great.
Cool thing #1. This week’s edition discusses Net Promoter Score and a Gazelles online seminar that I plan to attend — after I hear Amy Case’s presentation “NPS Demystified” at our CEO Retreat on April 26. We have tracked our NPS for several years, but have not implemented an NPS strategy.
Cool thing #2. Larry Weinberg, the CEO of BOWA, the construction firm he highlights in this issue, is a high school classmate of mine. I haven’t seen him in thirty years, but I had the misfortune of being in his weight class in wrestling. Think muscle-bound, wrestler-tough guy vs. very skinny boy scout. Anyway, his firm BOWA is averaging an NPS of 97 in 2012, after booking a 93 for 2011. This is simply unheard of. Most companies score below 50, and the 80s are for the very few, like Apple.
By the way, NPS for the VA Council of CEOs, measured just this month, is 79. Not too shabby. But … Larry is still beating the crap out of me!
CEOs to focus on “The Top Line”
This year’s CEO Retreat addresses “The Top Line.” After several years of getting lean and mean, top line opportunities are there for smart, focused business owners and CEOs. Keynote presenters will include sales guru Jack Daly, Net Promoter Score expert Amy Case, and economist Alan Beaulieu. As always, the CEO Retreat will offer equal time in small groups for peer exchange and learning.
More than 100 VA Council of CEOs members are expected at the annual gathering, April 25-27 at Kingsmill Resort in Williamsburg. See more details here.
CEO Profile: Edward D. Barlow II
Born and raised in Richmond, Edward D. Barlow II is President and CEO of Atlantic Corrugated Box Co., Inc. He attended Mills Godwin High School and received his undergraduate degree in Marketing Management from Virginia Tech in 1990. As a boy, Edward spent summers and extended holidays working for the family business learning the art and science of creating quality corrugated products. After graduating from Virginia Tech, he joined the firm full time and, in 1991, began purchasing the operation from his family. In 1992, Edward succeeded his father as President and CEO of the company. Today Edward owns the business, which is located in the City of Richmond, employs 25 people, and specializes in the manufacture of corrugated packaging and display products for a wide array of industries.
What makes your company unique?
Flexibility. Our employees recognize that every business is different. We develop a true understanding of our client’s businesses, and this allows our team to provide product and service catered to their particular needs. Our philosophy is simple: Quality products and extraordinary service — every customer, every time.
In your opinion, what are the most important characteristics of a good leader?
Integrity and accountability. Integrity is the basic building block for any good leader. It allows a good leader to remain accountable for his or her actions and decisions. It promotes fairness and consistency, and encourages an individual to lead by example. Integrity is essential in maintaining trust among your employees and your clients, and supports growth and prosperity within your organization.
What’s the best business advice you’ve received?
I credit my father with offering long-lasting advice and instilling core values I use to guide the business today. My father taught me not only to only make commitments I could keep, but to have the wherewithal to deliver on those commitments with extraordinary service. He also encouraged me to run a debt-free business, which has proven to be essential in tough economic times.
I can’t get through the day without…
Exercise or some type of activity that relieves me from the daily grind.
Best Virginia business dinner
Old Original Bookbinders
Guilty pleasure
Pizza
Name 3 things that made you happy this week
A close friend of mine was recognized and honored by the Valentine Richmond History Center. Not only did it make me happy, it inspired me.
I had a great workout yesterday — then ruined it by eating a pizza from Pie in the fan. Enjoyed every moment!
Our business was awarded a significant contract this week in the tobacco/packaging industry that will have long-lasting implications for our employees and associates. We are truly blessed.
Tell us about a rewarding on-the-job experience or moment.
I recently had a client request the development of a counter top display to both structurally and graphically enhance and sell his product in a retail setting. This client had significant experience with typical packaging products used for shipping purposes, but had no history or experience with point-of-purchase displays. Despite our daily communication, the client became increasingly agitated and dissatisfied with the amount of time it took to develop each phase of the product. He showed clear signs he was losing faith in the project and in our ability to deliver on our commitment. When the finished product delivered to his facility on time, he immediately opened the units to inspect his counter top displays. He and his entire staff were so thrilled with the final product that he took the time to call and leave a message praising our team on a job well done — along with an apology for doubting our abilities. His message was articulated so well, I saved it. I know there will be an occasion when I need to rejuvenate my team, and this message will be the perfect antidote. And though his voicemail was reward enough, as it happens, we’re designing his floor display now. Icing on the cake!
What’s your biggest challenge as a CEO?
It goes without saying that tough economic times are challenging to most CEOs, myself included. Today, I consider that to be my biggest challenge. In better economic times, I become stagnant and forget to challenge myself — especially in the area of accepting or embracing change. Occasionally I face challenges in dealing with personality conflicts among employees. This is a challenge I wish I could do without entirely.
How do you define success?
Balance. Striking a healthy balance between business, family, and community affords an individual the ability to deliver his or her best. Ultimately, this will provide success in whatever it is that’s being measured.
There’s a front page story about you — what’s the headline?
I would prefer not to be on the front page, but tucked away in the business section being recognized for an achievement in business or community involvement. If I had to be on the front page, maybe it would say, “Ed sold the business and moved to Italy, even though he never learned the language.”
Daily reads
Richmond Times Dispatch
RichmondBizSense.com
Snack craving
Apples and bananas
First job
Dishwasher at L’Italia Restaurant