Jay Russ, Business Development Director at Doeren Mayhew, has been an AM&AA member since January 2023. He joined just prior to the St. Pete Winter Conference and was approached to help start the Detroit Chapter which was created this year. Jay is currently on the Executive Committee for the Detroit Chapter as well as the National Membership Committee of AM&AA.
When asked what drives his commitment to his craft and industry, Jay replied:
Being a trusted resource and partner is what drives me to continue in this industry. I pride myself on being ethical, available and consistent in my interactions with my clients, coworkers and prospects. I truly believe when we provide value for others without the expectation of a return, this solidifies us as trusted partners and the successes materialize.
What are some insights or at least one piece of advice you wish you would have known when you first started in the industry?
If there is one piece of advice I can share with new people in the industry (or any industry for that matter) it’s that relationships and relationship building are the key to success. However, this is not something that occurs quickly or that you can see immediate success in. Many times it takes months or years of building a trusted relationship before it returns business in your favor. But, if you keep being that trusted and valuable resource you will be the person others look for and want to work with.
What is top of mind for you in your business right now?
Despite the slowdown in certain sectors, my main goal remains expanding our client base. I want to reach a wider audience and focus on deals that highlight our expertise. I’m committed to actively growing our clientele, concentrating on transactions that showcase our unique strengths. This approach aligns with our adaptability, making us more resilient in the current business landscape. By diversifying our engagements, we’re not only navigating challenges but also seizing opportunities from various sectors.
How has being a member of a trade association resulted in business growth for you?
Becoming a member of trade associations, particularly large national groups like AM&AA, has been a game-changer for expanding my professional network beyond local boundaries. Historically, many confined their networking efforts to their immediate surroundings for the sake of convenience and relationship development. However, I feel the post-Covid era prompted a paradigm shift, leading most to recognize the myriad opportunities in joining professional networks on a national scale. As a result of this, I feel I’ve been able to participate much more often in the passing back and forth of referrals across a variety of networks. Most recently, we were engaged by a client to assist with pre-sale accounting preparation and services. This is a family-owned business that had issues connecting with service providers in their region that took an interest in their goals or were available to assist with their needs. It is worth noting that this referral came through three degrees of contacts gained from the St. Pete AM&AA conference, providing tangible proof that networking extends far beyond the initial handshake at the conference, permeating into their extended network as well.
What legacy industry impact would you most desire to be known for?
I aspire to be known for building connections grounded in trust, transparency, and shared values, leaving a mark as a professional who not only orchestrates strategic transactions but also contributes to the long-term prosperity of the entities & individuals involved. This legacy emphasizes the significance of ethical relationship building in the M&A landscape, setting a standard for collaborative and sustainable business endeavors.
