Since its founding 35 years ago, Creative Media Works has grown into a full-service graphics agency including designers, programmers, and digital print specialists.
“We quickly developed our niche as a valued partner to Life Sciences professionals due to our close proximity to New Jersey’s major pharmaceutical and biotech corridor,” shares Carly Ritter. Now CEO, Carly took over leadership of the company from her father several years ago after learning the business from the ground up for over two decades.
Known for their stringent standards, dedication to customer service and intense focus on delivering the highest quality results in a demanding environment, it shouldn’t be a surprise that she and her father, Richard Van Fleet, decided to start a SaaS company, Speakcore, to address the Speaker’s Bureau needs of the same markets.
“I have certainly had a lot of change during my entrepreneurial journey. I wasn’t a traditional entrepreneurial business owner. A decade ago, when my father and I decided that running the business was a part of my future, we knew that we needed to do something else. Coming into the role of CEO, I had a lot to learn.”
An Entrepreneur’s Evolution
When asked about the evolution that she has gone through as a businessperson and a leader during that process, she jumps right in.
“I have certainly had a lot of change during my entrepreneurial journey. I wasn’t a traditional entrepreneurial business owner. A decade ago, when my father and I decided that running the business was a part of my future, we knew that we needed to do something else. Coming into the role of CEO, I had a lot to learn.”
“At the time, Richard had gotten me to where he could get me. And he was straightforward. ‘I can’t teach you the things that I don’t know,’ he said. The question for him was, how are we going to prepare Carly to take over this company and give her the tools and resources and what kind of outside help does she need?”
Carly pauses, reflecting on her conversations with him.
“I knew I didn’t know everything too. My father had several consultants come in over the years to help him, including Old Horses, which is how I ended up meeting you,” she says to me.
“I was looking for a group, as well as an Executive Coach. I knew the business and how to deliver what our clients needed and how to manage our team. That’s why we’re still in business. But I didn’t have a strong financial background then and I need more to take over the business. I also didn’t have anyone to talk with. While I had producers and doers I didn’t have a management team. I really was just a team of one. Having peers to use as a sounding board was very appealing. Just knowing you’re not alone, that you’re not the only person crying in your soup is such a sanity check. And for a relationship-oriented person like me, having others around me has been a lifesaver.”
“The transition of the company definitely is easier as you learn more about the business-side, but I think it’s mostly personal, with a lot of personal introspection required.”
Transitioning to the Second Generation
That was almost ten years ago. Being curious, I asked how things have evolved for her.
“Initially when I joined CEO Think Tank® I felt a bit handcuffed. My dad was running the company still and I didn’t know how to implement broader change when I wasn’t fully in charge. I could implement the things I was learning on a smaller scale, in the Creative Department which I was running. And Rich was very encouraging of what I was learning which was very helpful.”
She also, like many second gens, found it difficult to come out from the daughter role at first. “Rich constantly encouraged me but it’s very grey when you’re dealing with families. The roles can be confusing. I was still his kid.”
When I asked what enabled her to step out of Rich’s shadow she pauses. “The transition of the company definitely is easier as you learn more about the business-side, but I think it’s mostly personal, with a lot of personal introspection required.”
Looking back, Carly acknowledges just how much she’s accomplished.
“Being a part of CEO Think Tank® has broadened my knowledge of business, including a better understanding of where I’m strong and the areas that need work. Initially I knew I needed help, but I wasn’t sure what that entailed. Now, I see the areas where I can use assistance. I can execute with confidence. I can’t do it all myself. I’m not afraid to spend money now to get help. I’m leveraging people for critical projects. I realize that things take time, and we all make mistakes,” she shares. “I’ve gone from having to be perfect to being willing to try things, even if something fails because I know we’ll learn stuff from those actions.”
“I formed an Advisory Board because I knew that I needed an outside perspective. I don’t have a C-Suite yet, nor are we using outside capital. We’re bootstrapping and it’s important to get things right.”
The Next Opportunity
The next few years feel like an amazing opportunity for Carly, and she’s discovering she relies on the relationships she’s formed even more to support and guide her.
“Given the amount of time that I’ve been in the Think Tank Roundtable group, my needs have changed of course. What’s most important from a business and personal standpoint shifts. The group itself has evolved but there are certain constants, like when people ask me about what I want to do with the company. It’s sort of a ridiculous question. Someday we’re all going to have to transition or just fold our businesses. So, building a more valuable company is critical. Getting through the roadblocks is critical.”
“Now, as we’re building Speakcore, a software as a service company, things have changed again. Just when you get used to something, it changes – but that’s life. The fundamentals of business are the same, I know a lot more, managing people – both employees and customers – is similar. But this business is very different from a project-based service business. There’s more pressure now because the model, the pricing, the product isn’t the same.”
“What I’m learning is that in some ways we’ve overcomplicated. I formed an Advisory Board because I knew that I needed an outside perspective. I don’t have a C-Suite yet, nor are we using outside capital. We’re bootstrapping and it’s important to get things right.” She pauses for a moment.
“What we do have with Speakcore is a proven product that we know is needed in the market, and we’ve been serving clients in this space since 2016. We’re positioning this year as an opportunity to establish operational excellence by creating stability in the business end of the business. Working on Standard Operating Procedures for sales, delivery, client relationship management along with hiring and building a team – purposely built so that we can scale the company but more importantly so that we continue to provide a valuable, relevant software solution for our clients that will last.”
“When you’re young, you think you’re better than you are. Then you learn and become humble, hopefully.”
Creating a Legacy
The Carly Ritter whom I know now speaks with confidence and clarity, as well as pride in her accomplishments and her ability to provide opportunities for her team, a part of the legacy that she has created over the past ten years.
“Second gen transitions certainly have their own unique issues. You need patience and understanding, and everyone needs to be involved. Family is difficult. When you’re young you think you’re better than you are. Then you learn and become humble, hopefully,” she adds with a smile. “And when you’re a daughter, it’s different than when you’re a son.”
As for her father, and the road that they’ve traveled together she shares, “Promising nothing made me work harder. Presenting the opportunity to me was invaluable. But saying, ‘You can do this!’ was life changing.”
