Meet Ronay Hershey

We caught up with the brilliant and insightful Ronay Hershey a few weeks ago and have shared our conversation below.

Ronay, we’re thrilled to have you on our platform and we think there is so much folks can learn from you and your story. Something that matters deeply to us is living a life and leading a career filled with purpose and so let’s start by chatting about how you found your purpose.

I believe I developed purpose from witnessing my fathers entrepreneurial endeavors throughout my life. He taught me the value of resilience and independence which are the building blocks in finding and pursuing ones own purpose.

I Grew up with divorced parents and observed the challenges and triumphs of my father’s entrepreneurship. This fostered a strong sense of adaptability, ultimately helping me navigate and thrive in various situations. This same spirit demonstrated the importance of hard work, determination and persistence.

I was obsessed with my father since a young age as I didn’t get to see him often so he became such an inspiration to me. As a teenager, I became a small part of him achieving his goals and embraced that experience. He involved me in his approaches to challenges and problem solving as what seemed as a purposeful endeavor to educate and train me about life. He taught me to be innovative and take calculated risks. These experiences encouraged met to be bold in my pursuits in all areas of my life which ultimately lead me to being an entrepreneur myself and a 3 time World Champion Masters Olympic weightlifter.

Great, so let’s take a few minutes and cover your story. What should folks know about you and what you do?

I am the founder of Quantum Accounting Associates and Budding Accounting Solutions, My passion is helping companies figure out what’s holding them back.

I’ve been giving advice in business and accounting for almost 3 decades and have assisted in the growth of companies from the driver’s seat. I started my own business to help other businesses get a clear picture of how they work, figure out what needs to change, and see where improvements can be made so they can achieve their vision.

When we work with small or medium-sized businesses, we make sure their bookkeeping matches with how their business actually runs. By digging into the numbers and important metrics, we can pinpoint and help to fix their issues. Our goal is to give our clients the information they need so they can make informed choices.

When I’m not working, I love hanging out with my husband and dogs, hitting the gym, and doing Olympic weightlifting.

My passion project is the National Alliance on Mental Illness (NAMI). NAMI is the largest grassroots mental health organization across the country. I sit on the board of directors for our local chapter in York, PA. Together with both our state office, NAMI Keystone, and our national office, NAMI York Adams Counties PA provides advocacy, education, support and public awareness so that all individuals and families affected by mental illness can build better lives within our community.

Looking back, what do you think were the three qualities, skills, or areas of knowledge that were most impactful in your journey? What advice do you have for folks who are early in their journey in terms of how they can best develop or improve on these?

Between being an athlete all my life and following my father’s entrepreneurial spirit, the most impactful qualities, skills, and areas of knowledge below were developed.
Qualities:
1. Discipline and Commitment:
– Consistency and dedication in training and performance as an athlete can translate into a strong work ethic in business. My father taught me that discipline is discipleship.

2. Resilience and Perseverance:
– Overcoming setbacks and maintaining focus under pressure are crucial in both sports and entrepreneurship. Everyday we are in training. In training we fail, evaluate and figure out recovery. This directly translates not only to business but to life.

3. Goal-Oriented Mindset:
– Setting and achieving goals is a fundamental part of an athlete’s life, and this can be applied effectively in business planning and strategy. Incremental improvements move the needle.

4. Leadership and Teamwork:
– Leading by example and working well with others are essential qualities that benefit both team sports and business environments.

Essential Skills:
1. Strategic Thinking and Planning:
– Developing and executing long-term strategies is vital for business growth and sustainability.

2. Communication and Networking:
– Building strong relationships, negotiating deals, and effectively conveying ideas are key skills in business.

3. Financial Literacy:
– Understanding financial statements, budgeting, and financial planning are foundational skills for managing a business.

Areas of Knowledge:
1. Business Fundamentals:
– Basic knowledge of business operations, management, marketing, and sales is essential for running a successful enterprise.

2. Technology and Innovation:
– Staying abreast of technological advancements and how they can be leveraged in your business can provide a competitive edge.

3. Customer Service and Relationship Management:
– Developing skills in customer service and maintaining strong relationships with clients and stakeholders can drive loyalty and repeat business.

Leveraging these qualities, skills, and areas of knowledge, led me to effectively transition into entrepreneurship, using my unique experiences and mindset to build and grow a successful business.

What would you advise – going all in on your strengths or investing on areas where you aren’t as strong to be more well-rounded?

The decision to go all in on your strengths versus becoming more well-rounded by improving weaker areas is a nuanced one, and it often depends on the context and individual goals. Here’s a breakdown of the considerations for each approach:

Focusing on Strengths:
Pros:
1. Maximizing Potential: By honing your strengths, you can achieve excellence and stand out in your field. Great is being good consistently!
2. Increased Motivation and Confidence: Working on what you are good at tends to be more enjoyable, boosting motivation and confidence.
3. Higher Efficiency: Leveraging strengths often leads to faster and more effective results. You master your strength.

Cons:
1. Skill Gaps: Ignoring weaknesses can leave you with critical skill gaps that may hinder overall effectiveness.
2. Limited Adaptability: Relying solely on strengths might make it harder to adapt to new roles or unexpected challenges. You limit your potential when you limit your experience. Don’t put blinders on!

Becoming More Well-Rounded:
Pros:
1. Versatility and Adaptability: Being proficient in a broader range of skills makes you more adaptable to different situations and roles. Change is constant. The question is are you allowing yourself to evolve from the experience of change?
2. Comprehensive Problem-Solving: A wider skill set allows you to approach problems from various angles and find more holistic solutions. Allow yourself to grow by putting yourself in unfamiliar situations. Be comfortable with being uncomfortable!
3. Balanced Development: Addressing weaknesses can lead to more balanced personal and professional growth.

Cons:
1. Diluted Focus: Spreading efforts across many areas can dilute focus, potentially leading to mediocrity rather than excellence.
2. Lower Motivation: Working on weaker areas might be less enjoyable and more frustrating, potentially decreasing motivation. You don’t have to spend a lot of time in your weakness, just learn and understand it. Ultimately you want to surround yourself with people that backfill your weakness.

My Perspective:
I believe a hybrid approach is often the most effective. Here’s why:

1. Play to Your Strengths, but Don’t Ignore Weaknesses: Focus primarily on your strengths to excel and differentiate yourself, but also invest time in improving critical weaknesses that might hold you back. This approach ensures you maximize your potential while also addressing essential areas of growth. It also helps you recognize the skills you are looking for in someone else who has your weakness as their strength.

2. Strategic Delegation and Collaboration: In a team setting, leverage your strengths and delegate tasks that align with others’ strengths. This not only boosts team efficiency but also allows you to focus on what you do best while learning from others. You + them = unstoppable!

Examples:
Consider the story of Steve Jobs. He was renowned for his strengths in design and vision but lacked technical engineering skills. Instead of trying to become an engineer, he partnered with Steve Wozniak, whose technical expertise complemented Jobs’ strengths. This collaboration was crucial to the success of Apple.

I have used this as an example in my own business. I surround myself with those that have strengths where I am weak.

While it’s beneficial to focus on your strengths to achieve excellence, it’s also important to address key weaknesses that could hinder your progress. A balanced approach that leverages strengths while strategically improving critical weak areas often leads to the most sustainable and fulfilling success.

Contact Info:

• Website: https://qaaleap.com
• Instagram: https://www.instagram.com/quantumaccountingassociates/
• Facebook: https://www.facebook.com/QAALEAP
• Linkedin: https://www.linkedin.com/company/98560191/admin/page-posts/published/

Image Credits

Mary Williams Photography