Roie Ratsies is the co-founder and chief marketing officer of Fast Capital 360. His passion for small businesses developed in his previous role as the vice president of a wealth management firm. That’s where the mission for Fast Capital 360 was born: to create a simpler, easier way for business owners to acquire financing.
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Table of Contents
We are thrilled to have you join us today, welcome to Valiant CEO Magazine’s exclusive interview! Let’s start with a little introduction. Tell our readers a bit about yourself and your company.
Roie Ratsies: I believe everyone is born for a reason. Luckily for me, I’ve found mine. Business development and business financing are two of my greatest passions. My goal is to not just make it simpler and easier for business owners to find the resources they need to thrive, but to help the people I work with grow and succeed. Through my business, I can achieve these goals. My wife Barb and I created Fast Capital 360 as an online lending marketplace to help business owners secure fast funding at the best terms.
Who has been the most influential person(s) in your life and how did they impact you? How did that lead to where you are today?
Roie Ratsies: It must be true that behind every great man is a great woman. I would not be where I am now without my wife. She has been my supporter from day one. She is the source of my strength and the light to life’s dark tunnel. And as our children come along, I persevere to be more. As cliche as it may sound, if you are a father, you would want to create a better world for your children to live in.
2020 was a challenging year for all of us, particularly for businesses. How did the pandemic impact your business? Please list some of the problems that you faced, and how you handled them.
Roie Ratsies: No doubt 2020 was one for the books. Shortcomings revealed themselves in communication, collaboration conflicts, network connection issues, and work distractions. We had our daily huddles and established in-house policies for the remote setup that made everything possible. All I can say is that it is still a work in progress, but we are getting there.
The pandemic led to a myriad of cultural side effects, including one that was quite unexpected that is informally known as “The Great Resignation”. Did this widespread trend affect you in any way?
Roie Ratsies: Our industry was not spared from “The Great Resignation” trend that affected thousands of companies. We understand some of our employees are leaving us for a reason and that it could make their lives better. Who are we to stop that? But most stayed with us during this crisis and we are thankful. To show our gratitude, we give them the best opportunities we could offer.
According to the U.S. Bureau of Labor Statistics, 4 million Americans quit their jobs in July 2021. How do you feel about this trend? Explain.
Roie Ratsies: It’s no secret the pandemic changed the way we live. In this new normal, people have more ambition, drive, and passion for what they want. It’s OK to quit if the job doesn’t suit you or you can’t see yourself excelling in your career. But, I believe it’s important that managers should take time to understand how it came to that point.
According to a study by Harvard Business Review, Employees between 30 and 45 years old have had the greatest increase in resignation rates, with an average increase of more than 20% between 2020 and 2021. That can be quite an alarming rate. What advice would you share to increase employee retention?
Roie Ratsies: As a CMO, I was given a role to lead rather than dictate — and that is exactly how it should be. We need to improve on how we are listening to the ideas and opinions of every single employee. When employees are heard (and they should be heard), they realize how important their contributions to the company are — and that makes them want to be even better at what they do.
According to a Nature Human behavior study, In 2020, 80% of US workers reported feeling that they have too many things to do and not enough time to do them – a phenomenon known as “time poverty”. What is your take on the work-life balance? Explain.
Roie Ratsies: Work-life balance isn’t perceived the same way among every individual. It depends on your status, choice of lifestyle, work efficiency, and a lot of other factors. But, I believe as long as you know how to set your priorities, it will work out, as it should.
A more recent survey by Joblist asked about 3,000 respondents if they’re actively thinking about leaving their job. That survey found that 73% of 2,099 respondents who answered this question on their employment plans are considering quitting. How are you preparing for the future to counter this potentially persistent problem?
Roie Ratsies: We are a growing company. At the moment, we are focused on building a great company culture where we provide career development opportunities to our employees and make sure work-life balance is observed.
Thank you for all that, our readers are grateful for your insightful comments! Now, if the Great Resignation isn’t your greatest concern, what is the #1 most pressing challenge you’re trying to solve in your business right now?
Roie Ratsies: Whether pre- or post-pandemic, the greatest challenge is attracting the right type of customers, retention, and most importantly, taking care of our people.
Before we finish things off, we do have one last question. If you had 10 Million Dollars to spend in one day, what would you spend it on?
Roie Ratsies: I’d use it for investments but, of course, I would not put all the eggs in one basket.
Jed Morley, VIP Contributor to ValiantCEO and the host of this interview would like to thank Roie Ratsies for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Roie Ratsies or his company, you can do it through his – Linkedin Page
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