Independent Banker - July 2020 - 53

Carrie Morey's
goods vary from
savory cheese
crisps and crispy
ham biscuits to the
sweet, such as iced
blueberry biscuits
and cocoa and
cream cookies.
relationship. I feel very strongly that this is such an
important part of being an entrepreneur. "
Seven years ago, Smoak advised Morey to buy a building
instead of leasing it, which has turned out to be a great
investment for Callie's Hot Little Biscuit.
" All growth involves money, so I go to her and say, 'Can
I afford this? Should I do this? Should I do it this way?'
And she always comes up with a different perspective. She
thinks of it from a different angle. She takes the emotion
from it, " Morey says. " I ask a question, and it's rare that the
answer is no. If the answer's no, it's, 'No, we can't do that,
but we can do this.' It's powerful and comforting at the
same time, especially right now. "
The COVID-19 pandemic hasn't been easy on Morey's
business. " I've had to lay off over 40 people, " she says.
" We've shut down all four of our retail locations, I've laid
off six salaried managers [and] about 30 hourly people.
I still have about 25 on payroll because I have an online
shipping and wholesale division that ships to grocery
stores. They're staying afloat, so we are able to keep part of
the company open, but three-fourths of our team has been
Photos: Kelley Raye, Jason Stemple
" Coming from someone who has banked
with big institutions versus small community
banks, I just think it's a no-brainer. It's part
of your armor that you need to protect
yourself. That lets me sleep at night. "
-Carrie Morey, Callie's Hot Little Biscuit
laid off. And that's not good. At all. "
But Smoak has provided her a sense of calm. " I think it's
imperative, as a female entrepreneur, to make sure that
you protect yourself and that you surround yourself with
experts, " Morey says. " Coming from someone who has
banked with big institutions versus small community banks,
I just think it's a no-brainer. It's part of your armor that you
need to protect yourself. That lets me sleep at night. "
independentbanker.org Q 53

http://www.independentbanker.org

Independent Banker - July 2020

Table of Contents for the Digital Edition of Independent Banker - July 2020

Table of Contents
Independent Banker - July 2020 - Intro
Independent Banker - July 2020 - Cover1
Independent Banker - July 2020 - Cover2
Independent Banker - July 2020 - Table of Contents
Independent Banker - July 2020 - 2
Independent Banker - July 2020 - 3
Independent Banker - July 2020 - 4
Independent Banker - July 2020 - 5
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Independent Banker - July 2020 - Cover3
Independent Banker - July 2020 - Cover4
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