O'Dell Enterprises Undergoes a Financial Management Overhaul

Two Entrepreneurial Brothers Make their Mark in Blair, Nebraska

Tim and Shawn O’Dell founded O’Dell Enterprises in 2005 with the intent to produce and market their very own line of salsas. Initially, they were unable to secure the tomato supply they needed to produce their salsa recipe to scale, so they pivoted to pepper spreads. From that early line of pepper spreads, their food operations have since expanded to include a wide range of products including sauces, spices, drink mixes, and salsas. 

Their brand, Chili Dawg’s Foods of Fire has grown in popularity and has become a trusted vendor of grills, smokers, and grilling accessories in addition to all the delicious food products they offer. Because the brand offers a wide variety of specialty food items, the Chili Dawg’s team has to stay on top of inventory and pricing in order to ensure profitability.

O’Dell Enterprises offers Exceptional Value Across All Business Ventures

O’Dell Enterprises is into more than just food. Under the O’Dell Enterprises umbrella, Tim and Shawn operate Ridgeview Construction, building residential homes in Blair, Nebraska. Thanks to their exceptional track record, Ridgeview Construction has become a preferred contractor for new home construction in Blair, delivering affordable homes built to high standards of workmanship and quality materials. 

As property markets and material costs fluctuate, Ridgeview Construction has to bid their projects carefully to remain profitable and competitive. They need to be able to anticipate major construction costs ahead of time and budget the labor hours needed to get each project done on time.

Tim and Shawn also manage a number of rental properties in Omaha. For tenants of these properties, O’Dell Enterprises offers quarterly rebates for property maintenance and upkeep. The majority of their renters take advantage of this program, keeping their properties in excellent condition. O’Dell Enterprises has to be able to budget for these quarterly rebates without knowing exactly how many tenants will take advantage of the program.

Unleashing O’Dell Enterprises’ Potential with Modern Financial Management

Before reaching out to Advantage Insights, Tim O’Dell managed all O’Dell Enterprises finances on internally-maintained spreadsheets. Financial management for O’Dell Enterprises is intricate, spanning multiple industries. From food products to building projects, their business challenges vary dramatically.

Tim decided he had too many complex spreadsheets and spreadsheet integrations to maintain. Having owned a successful tech company from 1985 until 2018, Tim knew that there were more comprehensive financial management systems he could utilize with the right expertise at his disposal.

Tim shared his financial management challenges with a trusted colleague who recommended he meet with Mary Ferry of Advantage Insights to explore service options that could meet his unique needs.

“From our first meeting I was very impressed with Mary and her approach. I didn’t feel the need to look for anyone else.”
-Tim O’Dell, Founder, O’Dell Enterprises

With his spreadsheets at the ready, Tim met with Mary to review their financial management processes and integrations. Mary devised a plan to organize everything within QuickBooks Online, which would give O’Dell Enterprises access to regular financial health reports for all their subordinate brands. It will also allow them to naturally integrate their inventory management and building project management systems into a categorized, overarching database.

The setup process has begun, and once it is complete, O’Dell Enterprises will have visibility of their finances like never before. All bank accounts and credit cards will be synced to QuickBooks Online, and O’Dell Enterprises staff have been given access to a program called DEXT, enabling them to capture and record receipts via a mobile application. Accounts Receivable and Accounts Payable will be similarly managed through QuickBooks Online, replacing their old system of manually-written checks.

A major aspect of the transition to cloud management solutions is training the O’Dell Enterprises staff. According to Tim, the Advantage Insights team has done a tremendous job communicating with his internal team. 

“The people who work at the store have embraced these new processes from day one. Mary and her team have been there to give them support, answer questions, and provide direction when needed.”
-Tim O’Dell, Founder, O’Dell Enterprises

O’Dell Enterprises Accesses Better Planning for a Brighter Future

Thanks to more thorough, modernized financial management processes, Tim O’Dell says everything is about to get better. Processes for inventory management will give them more advanced control over their food ingredient supplies. Their building project profit margins will be clearer than ever, improving their ability to bid them accurately.

Profitability breakdowns across all their products and services will play into every decision Tim and Shawn make going forward. And thanks to the continuing support Advantage Insights provides, they will have more time and energy to devote to O’Dell Enterprises. By the end of 2022, Tim expects to debut their 11th and 12th pepper spread flavors and double their new home constructions over 2021 totals.

Tim says he finds gratification in managing his growing business and working with his exceptional staff. With more potent financial management practices in place, he will be able to guide the business toward smart growth, sharing the benefits with his customers and dedicated team.

Because he has owned his own tech business, Tim O’Dell understands that there is nothing to fear when it comes to adopting new technologies that will improve day-to-day operations and long-term planning. For business owners who are unsure about updating their processes with modern technology, Tim says they may be hampering their own growth.

“Business owners can’t do it all themselves. If you find yourself in that position, you’re not going to grow.”
-Tim O’Dell, Founder, O’Dell Enterprises

Tim recommends finding people you are confident in and comfortable working with. For O’Dell Enterprises, that partner is Advantage Insights. With their expert guidance on his side, Tim can trust these new management systems will be designed, set up, optimized, and trained competently. 

Whatever your business does, financial management has a direct impact on your operational clarity. O’Dell Enterprises offers a range of compelling products and services across multiple industries, and financial management is relevant to every last part of what they do.

If you want to find out how updating your financial processes can provide added clarity and potential to your business operations, you can reach out for a free consultation.

Whatever your questions or concerns are, exploring professional financial management is worth your time and could potentially revolutionize your business. Contact us by email at info@youradvantageinsights.com or call 402-281-3785 to learn more.

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