This summary provides an overview of a document about a pilot program between UBS Wealth Management and the Clinton Foundation to help 10 small businesses grow.
1) UBS Wealth Management and the Clinton Foundation created teams of an entrepreneur, financial advisor, and mentor client to help 10 small businesses over 6 months with advice and resources to help them grow and create more jobs.
2) The article profiles 5 of the small business teams, including Rickshaw Dumpling Bar. Rickshaw Dumpling Bar is opening a new kiosk in Times Square with help from their advisor Peter Klein on issues like cash management.
3) The financial advisors provide their advice for free as part of UBS's initiative to stimulate
Learn from the top leaders of real estate finance, asset protection, property management and business with our FREE publication created to help our readers create wealth through passive income. This publication is published by Realty411(http://Realty411guide.com), your source for real estate wealth.
Learn from the top leaders of real estate finance, asset protection, property management and business with our FREE publication created to help our readers create wealth through passive income. This publication is published by Realty411(http://Realty411guide.com), your source for real estate wealth.
This webinar will address major bottlenecks in your Oracle database that can be solved by simply improving storage performance. The Pros and Cons of several different storage approaches will be addressed including caching, adding additional hard disk drives, and implementing solid state disk.
http://petrafisher.com Donderdag 14 juni 2012 vond in De Balie Amsterdam "LinkedIn LIVE" plaats. Een event met training in het strategisch inzetten van LinkedIn, Tips, Gastsprekers en een uitgebreide netwerk borrel.
This webinar will address major bottlenecks in your Oracle database that can be solved by simply improving storage performance. The Pros and Cons of several different storage approaches will be addressed including caching, adding additional hard disk drives, and implementing solid state disk.
http://petrafisher.com Donderdag 14 juni 2012 vond in De Balie Amsterdam "LinkedIn LIVE" plaats. Een event met training in het strategisch inzetten van LinkedIn, Tips, Gastsprekers en een uitgebreide netwerk borrel.
What's The big ideaL? by Colin Mitchell and John ShawNOEMÍ MEDINA
Idealism and commercialism are not polar opposites. In fact, as counterintuitive as it may seem, sustainable profits are supported by sustainable idealism. Brand owners should not have to choose between idealism and profit, and profits based on a degree of idealism are more likely to be strong and sustainable over time. Businesses have come to recognize this and want their objectives, and those of their brands, to be attractive and easily defensible. While the economic crisis has tested some companies' resolve, the fundamental factors that encourage them to espouse inspiring missions and defensible practices are unlikely to wane. Ogilvy has developed The big ideaL process to convey the ethos of the brand or company to people from different cultures and to employees and consumers alike.
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0 Finalist Succession at Berrett-Koehler VannaJoy20
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There is no right or wrong way to write a personal teaching philosophy. However, for the purpose of this assignment, please follow the assignment guidelines below to connect your beliefs, goals, and strategies into a coherent approach to help students learn and grow.
Assignment Guidelines
Philosophy Paper Requirements
·
3pages
· Use a first person narrative and present tense.
· Write sincerely, uniquely, and memorably. Avoid clichés, jargon, and technical terms.
· Include specific (not abstract) ideas, using 1–2 concrete examples, whether actual or anticipated experiences.
· Show humility and mention students enthusiastically.
· Include your conception of how learning occurs.
· Communicate your goals as an instructor.
· Include actual or anticipated teaching strategies and methods.
· Include justification for why you teach (or anticipate teaching) the way you do.
· Include a brief discussion of how your teaching (or anticipated teaching) facilitates student learning.
· Include a conclusion.
To assist you in developing your teaching philosophy, you may choose to include any or all of the following:
· Famous quotes
· Your personal experiences as a learner
· Your views of the educational system
· Your interest in new types of teaching and learning
· What you think students should expect from you as a teacher
· How you know your goals for students are being met
· How you create (or anticipate creating) an engaging or enriching learning environment, and specific activities or exercises to engage your students
· using the 7thedition of APA
...
Social entrepreneurs go mainstreamNever let a crisis go to was.docxjensgosney
Social entrepreneurs go mainstream
Never let a crisis go to waste. Social entrepreneurs take this economic upheaval to be a blessing, providing a chance for business to transition from an anonymous, complex system to one that is direct and transparent.
Andrew Tolve | March 2009 issue
Oxford’s Saïd Business School student Claire Williams co-founded Hope Runs in Kenya to use running to empower AIDS orphans. Social entrepreneurship is “about creating sustainable businesses that work for the benefit of both the social good and the bottom line,” she says.
Photo: J. Carrier
In the wake of the 2008 financial flameout, most business people are, to put it mildly, downbeat. Banks aren't lending, consumers aren't spending and the prospects for the rest of the year seem grim. All of which makes social entrepreneurs, well, intensely—even passionately—optimistic.
"This is a slam dunk," says Willy Foote, the founder of Root Capital, which provides loans to rural businesses in Latin America, Africa and Asia. "The Wall Street meltdown provides a chance to think about how we transition from a financial system that is complex, opaque and anonymous to one that is direct and transparent."
The world seems ready for such a change. In the middle of one of the farthest-reaching financial collapses in history, U.S. President Barack Obama came into office faced with the challenge of delivering on his promise of change. People are tired of business as usual. The exasperation is palpable, but so is the hope that this time, we can and will do things differently. Social entrepreneurs have always believed this, and for many, it's their moment to shine.
"In a world where change is escalating exponentially, the only way we'll make it is if everyone has the mindset of a social entrepreneur," says Bill Drayton, a pioneer in the field and founder ofAshoka, which sponsors international leaders in philanthropic business. "The current upheaval is a great opportunity to flip the switch. We need to make everyone a change-maker."
That will require a lot of change. According to Kevin Lynch and Julius Walls, Jr., authors of Mission Inc.: The Practitioner's Guide to Social Enterprise (see excerpt on following page), "A social enterprise is a business whose purpose is to change the world for the common good." That's a tall order, but those at the vanguard of the movement are well placed to make it happen.
The field is "a response to the failure of both business and government to deliver on their promise to society," says Lance Henderson, vice-president of programs and impact at the Skoll Foundation, which, like Ashoka, nurtures transformation around the world. "Social entrepreneurs are very good at innovation and integrating sustainability into society."
Consider reading glasses. People start to lose their eyesight around age 40. In the North, we fix the problem easily at the local drugstore. But in the South, where glasses are far more difficult to find or afford, the problem is.
It was the adoption of 'spreadsheet' computing, social-media (print) & reputation marketing (word of mouth) that fueled our mortgage banking growth. Prior to fax machines our 'mobile' strategy comprised the 'new startup' FedEx & an airline ticket. Oh what I could have done with 'digital assets' (an 'online' presence, a NXGen MobiApp & social media) back then! Find out what your digital assets are and how people 'see' you online.
Go Here: http://nxgendigitalmarketing.repgrader.com/socialcapitalreport
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
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3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
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1111 On Wall Street Article
1. Ideas and Insights for Wealth Managers Volume 21, No. 11 • November 2011
www.onwallstreet.com
th
anniversary
UBS Boosts Small
Business Owners
The Unfaithful Client p.11
REITs: The Best
Game in Town? p.34
Life Stories with
John Thiel p.64
Kenny Lao, owner of Rickshaw Dumpling
Bar, left, and his advisor, Peter J. Klein, right,
of UBS Wealth Management Americas
2. Cover Story
UBS And
The Small
Business
Owner
Challenge
UBS financial adviSorS take on
10 emerging entrepreneUrS
By lorie konish / photography by matt furman
R
ichelieu Dennis is in the eye of the hurricane.
That’s what Holly Hendrix thinks when she looks
at the recent growth of Dennis’ natural personal
care products company, Sundial Creations. “Don’t Sundial creations
micromanage it. Go with it,” Hendrix, a UBS founder and
ceo richelieu
financial advisor told Dennis, her client of only a few months. dennis (left)
and UBS Svp of
“Ride the wave. Try not to lose any important pieces along the investments and
Wealth advisor
path, and then at the end you’ll clean up the mess and you’ll be Holly Hendrix
wherever you are, which is bigger.”
3. top: Sinu founder
and chief technology
officer larry velez
(left) and UBS
managing director
and private Wealth
advisor Jason m. katz.
Bottom: rickshaw
dumpling Bar co-
founder kenny lao
(left) and UBS Svp of
investments peter
J. klein
4. Cover Story
Hendrix and Dennis began their professional relationship following “All of a sudden we got it and it was kind of like running at full speed.”
the July kick off of a six-month pilot program between UBS Wealth The new kiosk is scheduled to open on Broadway between 42nd and
Management Americas and the William J. Clinton Foundation. In this 43rd Streets this month. It will be a hybrid of Rickshaw Dumpling
philanthropic endeavor, UBS and the foundation have created 10 teams Bar’s two New York restaurants and four food trucks. “It’s literally
in the New York City area. Each team consists of an entrepreneur, an old shipping container that we bought from New Jersey, and we’re
a financial advisor and a mentor (who is also a UBS client) who are shoving a truck into that,” Lao says.
matched up by UBS and the Clinton Economic Opportunity Initia- Establishing a new relationship with UBS financial advisor Peter
tive (CEO), a group within the Clinton Foundation. The program is J. Klein, senior vice president of investments, and Klein’s client
aimed at providing the nascent businesses with more sophisticated Peter Furth, chief executive of FFF Associates Inc., a consulting
resources and advice than they could obtain on their own. By helping company for the food, spice and agri-chemical industries, came at
the companies grow, the program aims to help them create more jobs. just the right time, Lao says. “To have some help from these guys
And, the financial advisors give their advice for free. in thinking out the bigger issues and looking at the cash issues was
The project is one facet of UBS Wealth Management America’s really, really cool,” Lao says. Lao co-founded Rickshaw Dumpling
Revitalizing America initiative designed to foster strategies to Bar in 2005 after having worked as a special projects director for
stimulate the U.S. economy. “We wanted to have an opportunity high-end restaurants in New York that allowed him to sample the
to do something a bit more hands on,” Lori Feinsilver, head of the city’s finest restaurants.
CEO-UBS small business advisory program at UBS, says of the pilot The menu includes chicken and Thai basil dumplings with spicy
program. The firm’s meetings with the Clinton Foundation resulted peanut sate dip and vegetarian edamame dumplings with lemon-san-
in an instantaneous recognition of how UBS could “really put the sho dip (Editor’s note: They are delicious!) The recipes were created
great work our financial advisors were doing with their clients to with prominent New York chef Anita Lo.
use for the broader good,” she says. Lao’s inspiration for the business came from the dumpling dinner
The pilot program requires that the teams commit to working nights he enjoyed as a child. As the only child of a single mother, who
together for six months and check in with each other at least once a has since married, dumpling night was the one night another family
month. UBS hosts two workshops during that time on topics relevant would come over for dinner. “This is what it’s like to have dinner every
to all of the companies, including balance sheet management and night with a family,’” Lao says of the group dinners, which required
marketing. UBS has also provided the teams with a list of partners
in their home office that they can consult on various topics and areas
of expertise.
“The program has exceeded our expectations,” Feinsilver says.
“I think the small businesses are learning a lot, but I wouldn’t
underestimate how much the clients and our [financial advisors]
are learning.”
The pilot program will finish in February, and plans are already in
place for a national roll out starting in April in Chicago and California,
focusing on either Los Angeles or San Francisco. The next program
will include about the same number of teams, Feinsilver says, but
may narrow the current $2 million to $26 million-revenue range of
the participating companies. The ten participating companies had
$8.44 million in average annual revenue in 2010 and altogether had
400 employees as of the end of last year.
Including Sundial, the personal care products company, and
its advisors, On Wall Street sat down with five of the participating
teams, including a construction company, a dumpling restaurant, a
high-tech firm and an educational materials company to examine
how the partnerships are working out.
RICkShaw DUmpLInG BaR
When Rickshaw Dumpling Bar submitted an application to several
new kiosks in Times Square, co-founder Kenny Lao did not neces- from left, UBS Svp
of investments
sarily think his business would win. “We were like, ‘Let’s throw in peter J. klein,
rickshaw dumpling
Bar co-founder
this application and then figure it out,’” Lao says. kenny lao, and fff
associates ceo
peter furth
5. a lot of manpower to wrap and cook the dumplings. “It was so social
and so awesome, and I think a lot of memories aren’t just about the
food. It’s about the people you’re with and the environment and the
time in your life.”
But the path to growth has not always been as smooth, Lao says.
Rickshaw Dumpling Bar, which has funded itself through individual
investors, opened a large store in the New York University neighbor-
hood, following a “big fat” fundraise at the height of the market in
2006, Lao says. That location turned out to be too big for the business,
and they shuttered it.
“It cost a lot of money and almost took the company down and it
was really scary,” Lao says. In order to get his mind off that failure,
Lao started the food trucks.
Now, as the company prepares for growth again, Lao has learned
some lessons. As he eyes new markets, perhaps Boston or Washington,
D.C., Lao says he would introduce the brand with trucks first. And
to save money, Lao says he would love to open a commissary down
the road so that the company can save money by also manufacturing
their own dumplings.
Klein and Furth are working with Lao to help him work towards
those goals, including how to access capital the company will need.
Furth, whose business has been in his family for three generations, from left, UBS Svp
of investments
Holly Hendrix,
hopes to see Lao retain most of the ownership. “You want to have Sundial creations
founder and ceo
the rewards of saying, ‘This is my business,’” Furth says. “You don’t richelieu dennis,
and retired retail
want your investors turning on you, or saying ‘I want out,’ and then industry executive
and consultant
how are you going to buy them out?” carol greer
Klein compares the work they are doing to coming in and skiing flourish, and also consider how his relationship with his business
along Lao when he comes to a black diamond trail. The opportunity partners needs to evolve.
to candidly learn about Lao’s business and watch him grow has been Those realizations, Dennis says, would not have happened without
very rewarding, Klein says. “We’re going to be a triumvirate for many his participation in the program, as he typically focuses all of his
years to come. As [Lao] grows, there might be new challenges that time on all aspects of Sundial’s business, including filling orders for
come up,” Klein says. “But he can reach out to Peter and Peter and retailers such as Target, Walgreens and Whole Foods.
say, ‘Here’s what’s going on. How can you help me?’ We’ll always be “We end up making decisions in a vacuum that are reactionary
there for him.” to where the business is versus where it needs to be,” Dennis says.
“Just that in itself is a value that will help all of the people that are
participating in this make fewer mistakes.”
SUnDIaL CREaTIonS Sundial’s product line was inspired by the owner’s grandmother,
When you walk into Sundial, located in a former ambulance depot who used to make and sell her own products in Sierra Leone. When
in Amityville, N.Y., you’re immediately struck by the large yellow Dennis graduated from college in the United States and could not
sheets posted on the wall opposite Richelieu Dennis’s desk. The notes return to his native Liberia because a civil war had broken out, he
reflect Dennis’s initial efforts after four or five meetings and weekly began making similar products and selling them on city streets. Most
phone calls with Holly Hendrix, senior vice president of investments of Sundial’s natural skin and hair care products have some concentra-
at UBS, and her client, Carol Greer, who will serve as a mentor to tion of the shea butter Dennis’s grandmother first sold.
Dennis during the six-month program. Greer is a former department Though his relationships with Hendrix and Greer were established
store executive whose previous roles include having served president just recently, they already have a familial feel. “It’s not my business,
and chief executive of the specialty footwear and apparel division at it’s not [Greer’s] business,” Hendrix says, “but I have to say, sometimes
Foot Locker Inc., formerly Woolworth Co. when we’re talking to him, we’re talking to him like it is.”
“All of what you see on my wall there is what’s in my head,” Den- That extends to the entrepreneur’s real business family, which
nis says. “Now we are putting it into a form, and in the long run I includes his mother, sister and best friend, who have all been involved
think it will make everybody’s life a lot easier and it will take away with the company since it first started developing and selling the
a lot of complexities.” His work with Hendrix and Greer has helped products from Queens in 1992.
him set new goals to create a more stable culture for employees to Today, Sundial has about 35 employees. Dennis says he hopes
6. Cover Story
to grow the business to five times its current size. Since he teamed she hopes will be more robust than previous versions her company
up with Hendrix and Greer, Dennis has been hit with a series of offered. Like those other apps, this one will have photographic im-
positive events. The company has won back-to-back accolades for its ages for children to identify, while also adding different levels and a
products from Allure, Esquire and Natural Health magazines. The rewards system to encourage a child to progress.
momentum Dennis is experiencing in his business was more than That app is also aimed at generating more revenue than previous
Hendrix says she expected. Together, they plan to make sure Den- versions, which the company has mostly offered for free. The new
nis is prepared to fully capture current opportunities and establish app would first debut at $4.99 for the iPad and iPhone, while later,
a five-year business plan. simplified versions could go for $.99 to $1.99.
Eventually, Hendrix says, that could mean taking some kind of Different Roads to Learning has been able to draw on more ex-
outside funding. “[Dennis] is at a place where he really needs to sit pertise with this app, Azuma says, from various technology experts
back and strategically think through how he is going to prepare the at UBS, who have also recommended vendors, and Butte, whose
company for the growth he is about to have,” Greer says. “It takes company also has an app.
an awful lot of thinking, and it also takes a lot of understanding of Sager is also planning to help put together a five-year business
how his role is going to change.” plan for Different Roads to Learning, while also reaching out to
UBS departments that may provide concrete referrals to help the
company improve its sales. And, the lessons learned are not neces-
DIffEREnT RoaDS To LEaRnInG sarily one-sided.
The first few months of Different Roads to Learning founder and “As I’ve been looking at the marketing plan and the business plan
Chief Executive Julie Azuma’s work with UBS private wealth advisor overall, it makes me think, ‘Gee, maybe I should take a look at mine,’”
Sharon Sager and her client Amy Butte, founder and chief executive Sager says of her financial advisory business. “It’s absolutely been a
of financial education company TILE Financial Inc., have led to some wake-up call in terms of managing my practice.”
new lessons right away.
That includes narrowing the scope of what Azuma plans to do and
more thoroughly considering their financial consequences. mZm ConSTRUCTIon & manaGEmEnT
Azuma founded New York-based Different Roads to Learning 16 Marjorie Perry first realized that she wanted to be an entrepreneur
years ago, when here daughter first began showing developmental as a teenager when she traveled from her hometown, Newark, N.J. ,
issues. “Nobody knew what it was, and when they found out she had to cities including Atlanta, Chicago and Memphis as a power tumbler
these delays, they asked me to find certain materials and they were for various gymnastics teams and a public speaker for her church.
impossible to find,” Azuma says of the special kinds of blocks and In her role as president of Newark, N.J.-based construction and
images she was tasked with tracking down. “I hoped to create a place transportation company MZM Construction & Management, she
where parents could find these materials.” says her strong sales skills always shine through. “I could sell you
Today, Different Roads to Learning sells educational materials the Brooklyn Bridge and make you buy it again next week,” Perry
specifically targeted to autistic children. Its products include books, says with a laugh. “That’s the gift that I have.”
manuals and flash cards, all designed to help autistic children learn Perry co-founded MZM in 1992 through a three-way partnership.
through features like timers and rewards charts. The business, cur- In 1994, Perry bought those partners out. Today, the company, which
rently with four full-time employees, has expanded with about 12% focuses its work on Newark, N.J. and lower Manhattan, has a roster
growth per year. Most of the company’s business—about 85%—comes of completed projects including the New Meadowlands Stadium and
from schools, districts and agencies, mostly in the U.S. and some also New Jersey Performing Arts Center.
in Canada. Now, Perry is working with UBS private wealth advisor and senior
Azuma has already changed her thinking on how to prepare the portfolio manager Russell Rabito and his client and brother-in-law
company for the future growth she hopes to see. That comes after Walter Beal, general manager of Springline Corp., to strengthen
Butte, a former chief financial officer for the New York Stock Exchange other areas of her business.
turned entrepreneur, walked her through a return on investments That will include meeting together to go through how MZM man-
statement. Sager and Butte also provided her with lessons on when ages work and watches costs. Beal, whose talent is focusing on those
debt is necessary, and how to gauge the possible return on new numbers, will also demonstrate the system he uses to track operations
projects by weighing both costs and projected revenue. and administration for his business. Once MZM installs that system
“My staff, the people I work with, are always telling me that I should and is trained on it in the next six months, Beal says, the company
be more focused and more patient about wanting to do everything at can better track its costs. “Once we have our eye on exactly where
one time,” Azuma says. “And when Amy and Sharon said, ‘Can you that bottom line is, then I can project that better on the next set of
just focus on a couple of things? We could really do these targeted projects that I’m going to bring to the table,” Perry says.
things,’ I realized I was the one out of sync.” Getting that financial organization in place can also eventually
Now Azuma and her team are focusing on a new educational app lead to hiring more employees to its 15-person staff. Perry says that
7. MZM could definitely use three to four additional people to manage
the field, office and internal operations.
“The whole point is to get her margins up so she can actually
afford those people,” Beal says.
The program should also better enable MZM to take its financial
records to a bank and prove how they can get a return from an invest-
ment, according to Perry. But the ultimate goal is to get MZM to a
point where it is financing all of its own projects without relying on
a line of credit or term loan.
For that goal, she can turn to inspiration from Beal, who now
works with friends at Springline, a company formed in May that is
currently working on two hotel projects.
“Walter is great to talk to because he is no nonsense. He can
look at me or give me a sound like, ‘Okay, Marj, rethink that,’”
Perry says. “I go back to the drawing board quickly when I hang
out with Walter.”
SInU – ThE TECh fIRm
When Larry Velez decided to create a company in 2004 around a from left, Sinu
business plan he formed for an outsourced information technology founder and
cto larry velez;
Sinu principal
department for small businesses, he had already had a taste of work- david owen; paltalk
founder and ceo
ing for two startup companies. Jason katz; and UBS
managing director
That included video streaming website company Pseudo Pro- Jason m. katz
grams Inc., which closed in 2000, and another online video network So we didn’t have to have uncomfortable conversations, like how can
company Alltrue Networks Inc., which failed to find follow-on you give me a 20% discount?”
money after a 2001 fund raising event. “Pseudo was so crazy they Now as Velez is looking to push the business further, he has UBS
made a video documentary about it,” Velez says of the film “We advisor Jason M. Katz, founder and senior member of Katz Wealth
Live in Public,” which won a Grand Jury Prize for Documentary Management, and his client Jason Katz, founder and chief executive
at the 2009 Sundance Film Festival. Velez wanted to leave less up of Internet chat service provider Paltalk, to help him.
to chance with his new business. For that company, named Sinu, Katz and Katz, who are not related, both grew up in Great Neck,
that meant relying on a revenue model rather than turning to the N.Y. They connected in their hometown, where they shared similar
venture capital funding that those previous companies had fed on interests including basketball, and have extended that relationship
prior to the dot-com bust. as professionals. “We’re forever explaining the other Jason Katz,”
“Raising venture money is like strapping a rocket to your back,” Paltalk’s Katz says. (Katz of UBS made On Wall Street’s Top 40 Under
Velez says. “You will go somewhere. You might land where you want 40 ranking in 2009.)
to go, you might not. But you’re going somewhere.” Sinu’s growth plans include converting its hardware to a service
Sinu started out by taking space in an incubator called SoBRO in in addition to its overall information technology services. Ideally,
the South Bronx and taking a loan from a seed support organization Velez says, that would mean refreshing equipment like computers
to help it start generating operating revenue. and servers provided to customers every few years like cell phones.
Today, Manhattan-based Sinu provides outsourced technology “There’s clearly a very valuable proposition they bring to the table,”
services to small professional organizations in industries includ- UBS’s Katz says of Sinu’s plans. “Through a dialogue I had with
ing architecture and design, consulting, financial services, media, Jason the client and Larry, we realized it was more of a scalability
nonprofits and real estate. Sinu’s clients typically have between five issue.” To resolve that dilemma, UBS’s Katz plans to connect Sinu
to 250 employees. with UBS’s finance experts. Ultimately through the program, Velez
Sinu’s model works by charging its clients about $125 per employee hopes they can establish what the best way is for the company to buy
per month. With that, the businesses get email, security, data backup the quantity of gear they need and buy it responsibly.
and network gear. About 90% of the company’s revenue is recurring If successful, Paltalk’s Katz estimates that that plan could help
on a monthly basis. Sinu double or triple its business very quickly and create more jobs.
“When things were really, really tight a couple of years ago, when Velez has already seen some clients who signed up with 20 employees
the economy was collapsing, we shrank with our customers,” Velez grow to 200- to 300-person force within one or two years. “We help
says. “As they let people go, their IT budget automatically shrank. remove the friction of that growth,” Velez says. OWS