Risk & Business Magazine Knight Archer Insurance Fall 2015 | Page 6

Q&A with Jason Drummond An Entrepreneur and Successful Businessman Shares His Insights BY: JOEL SOPP, KNIGHT ARCHER INSURANCE [email protected] J ason Drummond is President of the Drummond Group of Companies, currently serves as Managing Director of both York Plains Investment Corp and DGC Investments. Over the years, he has been involved in numerous startup companies in a variety of industries, including the agriculture, food and beverage, real estate, oil and gas exploration, production, and processing. Jason holds a Bachelor of Business Administration degree from the University of Regina. Jason plays an integral role in a fundraiser on his family’s farm just outside Regina called Hawg-A-Rama. The event raises money for local charities and sport. Jason and his wife Kelly have six children. Joel: Jason, thank you very much to agreeing to share some of your insights into your corporate world, from both an entrepreneur and a successful businessman’s perspective. Joel: What is the important thing to remember when starting a business for the first time? Jason: When starting a business it’s important to remember that you will face many challenges. Some you will have been aware of but many will surprise you or will be tougher then you had anticipated. It’s good to know that everyone faces challenges on a regular basis. So be prepared to put the necessary time and effort into working through them and you’ll enjoy your success moments that much more. Joel: Great advice, Jason. Speaking of working through challenges, in the past year, what is the smallest change you have made that has had the biggest positive result? Jason: I started to regularly schedule face to face meetings with partners and key people with no agenda other then to blue sky ideas and brainstorm. Whether it’s walking down the street for an hour long meeting or travelling to another city for a couple days to brainstorm, it’s worth the time and effort. Majority of the time you come away with an actionable item or open up doors that otherwise wouldn’t have existed had you remained firmly planted in your office. Joel: You mentioned brainstorming with your partners. Being in business with others can be interesting to say the least. How do protections like a Buy/Sell Agreement, supported by life insurance, ensure the smooth running of your corporations? 6 RISK & BUSINESS MAGAZINETM FALL 2015 Jason: It gives the group peace of mind. Running a business can be a struggle as it is. Having structures in place that keeps things streamlined, simple, and clear can only have a positive effect on the business should unfortunate or complicating matters arise. Joel: How important is it to have a team of Advisors you can trust for legal, accounting, insurance, etc. matters? Jason: You want to be focused as much as you can on operating the business. By having qualified professionals manage the other areas of the business, it frees up time to grow your business or spend more time on your personal life. Of course it takes time to build those types of relationships but it’s certainly worth it and those people can truly add value. Joel: People often reference their successes in business, but are hesitant to discuss times when they weren’t as successful. If