Ep. 69 — Million Dollar Embezzlement to Rebuilding Her Empire with Cheryl Obermiller

Welcome to the "Show Me The Way" podcast with David Seitter

In this episode of "Show Me the Way," Dave and Cheryl Obermiller, President of Obermiller Construction Company, Inc. This episode shines a light on her remarkable journey dealing with embezzlement, financial fraud prevention, and her resilience to build a multi-million dollar business. Cheryl’s story is not just about her successful venture into the construction industry but also a testimony to her resilience in the face of significant adversity.

Ep. 69 — Million Dollar Embezzlement to Rebuilding Her Empire with Cheryl Obermiller

Cheryl Obermiller's journey is not a typical one. Born in Grandview, Missouri, Cheryl’s eclectic career path began in the world of modeling. She shares candidly about her experiences with promotional modeling work, which primarily involved engaging with various cosmetics companies and working at bridal shows. However, she explains that despite the glamor often associated with the modeling world, the job was rooted in humility and reality – balancing between appearing elegant while tackling mundane life chores.

The Unexpected Leap into Business

Cheryl’s foray into entrepreneurship came almost by accident. Initially assisting her husband with bookkeeping tasks in his engineering office, she inevitably stepped into the construction business. The aim was simple: to build a small part-time venture from various inspections and testing that her husband could not accommodate under his engineering license. However, Cheryl proved more adept at business than anticipated, transforming the side hustle into a thriving operation. Within seven years, the business burgeoned into a multi-million dollar enterprise.

Rising Above Financial Turmoil

Cheryl's journey wasn't without its setbacks. She recounts a harrowing experience of falling victim to embezzlement, leading to nearly a million-dollar loss. Her diligence and commitment prevailed as she sent her accountant to federal penitentiary, fought through severe financial and emotional turmoil, and emerged stronger. Cheryl wrote "Fraud Points," a guide for small business owners to detect and prevent financial fraud.

Lessons in Overcoming Adversity

The publication of "Fraud Points" not only served as a cathartic release but also turned Cheryl into a beacon of knowledge for those battling similar issues. Her book fills a crucial gap by laying down practical strategies for small business owners to safeguard against fraud, emphasizing that understanding the nuances of financial systems is critical for survival.

 

Cheryl candidly shares essential advice for business owners:

1. Get Your Own Mail: To avoid unchecked financial discrepancies.
2. Secure Financial Instruments: Have sole control over checks and credit cards.
3. Daily Financial Vigilance: Regularly review online bank and credit card statements to thwart potential fraud.

A Journey of Grit and Resilience

Cheryl’s story encapsulates the indomitable spirit required to navigate the peaks and troughs of business ownership. Her survival and eventual success pivoted on her ignorance of industry absolutes – she simply didn’t know small businesses weren't supposed to bounce back from such devastating losses, so she did it anyway.

Reflections and Forward Momentum

Reflecting on her journey, Cheryl embodies perseverance and resilience. Her business now boasts revenue significantly higher than its humble beginnings, and her approach to managing it has transformed. Today, every penny is meticulously monitored under her scrutiny, ensuring her business's fortified defense against any kind of financial fraud.

Final Words of Wisdom

For business owners, Cheryl offers two cardinal pieces of advice:

• Dismiss Discrimination Perceptions: Focus on goals rather than perceived slights, knowing one’s worth and capability.
• Give Generously: The joy of contribution enriches one's journey far beyond the accumulation of monetary wealth.

 

Cheryl’s narrative is a testament to overcoming adversity with grit and an unwavering belief in oneself. Her spirit continues to inspire others, making her story not only one of professional success but personal resilience. It’s this enduring optimism and fortitude that serve as the foremost lesson for us all: that with determination, any obstacle can be surmounted.

 

 

To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at dseitter4@gmail.com

 

Disclosure

This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.