Managing and Improving Your Business in a Downturn
Entrepreneurial companies today face one of the most challenging environments in recent history with falling revenues, rising costs, bankrupt customers and suppliers, and defaulting loan covenants all becoming more commonplace. Many firms today are making crucial decisions about where to invest increasingly limited resources, when to cut back on personnel and other expenditures, potentially which bills to pay, or whether or not to divest of their businesses completely.
This panel will discuss some of the major decisions facing small firms and startups in this tight economy and will provide guidance and assistance from both industry experts and experienced entrepreneurs on how to make some of these critical managerial and strategic decisions.
Moderator: Craig Bradley, Lecturer of Business Law, Kellogg School of Management
Panelists:
- Nelson B. Head '87, Owner, SAFCO LLC
- Joycelynn M. Stone '97, Founding Member, J. Stone & Associates LLC
- Travis Gaylord '99, Owner, Reliable Distribution Group
- Colleen Lowmiller '99, Director, Bridge Associates LLC
|
 |
Nelson B. Head '87
SAFCO LLC
Owner
Nelson Head is a seasoned entrepreneurial executive with over 21 years of management experience founding and running middle market organizations. Mr. Head recently acquired SAFCO LLC, a manufacturer of custom designed low voltage power solutions, accessories and cord sets sold to OEMs specializing in commercial/industrial electronic devices used in mobile, remote environments.
Prior to acquiring SAFCO, Mr. Head was president of IMS Companies, LLC, a holding company overseeing business units manufacturing robotically machined gears, wire harnesses, custom cables, stamped metal components and sheet metal enclosures. Mr. Head also co-founded Parson Group, a start-up finance and accounting consulting firm. In 2000, Parson Group was named the #1 Fastest Growing Private Company by Inc. magazine. Before starting Parson Group, Mr. Head served as vice president at The Hirsh Company, a leading manufacturer of consumer shelving and wood storage products. In addition, he identified, negotiated, and acquired middle market manufacturing companies at Code, Hennessy & Simmons, and spent three years as a relationship officer for Mellon Bank.
Mr. Head received his undergraduate engineering degree from Vanderbilt University and holds a Masters of Management degree in finance and accounting from the J.L. Kellogg Graduate School of Management at Northwestern University.
|
|
 |
Joycelynn Stone '97
Founding Member
J. Stone & Associates LLC
J. Stone & Associates LLC (JSA) provides CFO and Controller services such as financial planning and budgeting, business plan development, lending relationship management and accounting services to small and emerging businesses up to $10M in sales and up to 100 employees. In addition, the firm provides Benefits consulting and administration for the same businesses. Examples of such businesses include a public relations firm, several charter schools and a wholesale food service and retail company.
Joycelynn Stone, CPA, current President and founding member, started JSA in June of 2001 after a 6 year career at Ernst & Young and after 4 years at the Strategic Services Group of CSC Consulting. At Ernst & Young, Ms. Stone she rose through ranks to Tax Manager where she managed audit, tax compliance and tax consulting services for several entrepreneurial clients with revenues ranging from $100M to $500M. At CSC, Ms. Stone led the development of technology and business processes re-design strategic plans for several industries, including government, internet B2C initiatives and for a major restaurant corporation. Ms. Stone received her Master's of Management degree in Finance, Marketing and Economics from the J.L. Kellogg Graduate School of Management at Northwestern University and a BS in Accounting from Purdue University. She is also a graduate of the Chicago Urban League's nextOne Program which provides services and counseling to emerging small businesses in the Chicago area.
|
|
 |
Travis Gaylord '99
Owner
Reliable Distribution Group
Travis Gaylord is the co-owner of Reliable Distribution Group LLC, (RDG) a distributor of maintenance, repair, operations, and production (MRO-P) supplies to industrial and commercial facilities in the Chicago area. In 2004, Mr. Gaylord and his business partner formed RDG to acquire the assets of Serson Supply, a third-generation family-owned distributor founded in 1907. At RDG, Mr. Gaylord is responsible for all commercial issues, including sales force management, vendor relationships, pricing strategy, and marketing support.
Prior to founding RDG, Mr. Gaylord held several positions in the corporate world. As a Manager for Deloitte Consulting in their Strategy and Operations practice, Mr. Gaylord consulted several large manufacturing companies in a variety of industry sectors, including automotive, aerospace, and technology. His duties for Deloitte Consulting included corporate strategy, market research, operational improvement and financial modeling.
Before joining Deloitte Consulting, Mr. Gaylord was an Automation Sales Engineer with GE Fanuc, a joint venture between General Electric and Fanuc LTD of Japan. In this role, Mr. Gaylord was responsible for selling factory automation equipment and software to manufacturing facilities throughout Northern California and Western Nevada. During his tenure, Mr. Gaylord received several corporate awards for sales performance and teamwork.
Mr. Gaylord earned a MBA in Marketing, Finance, and Strategy from the Kellogg School of Management at Northwestern University and a B.S. in Mechanical Engineering from the University of Virginia. A native of Fort Washington, Maryland, Mr. Gaylord currently resides in Chicago with his wife and 2 sons. |
|
 |
Colleen Lowmiller '99
Director
Bridge Associates LLC
Colleen Lowmiller is a Director in the Chicago office of Bridge Associates LLC, joining the firm in 2007. Ms. Lowmiller has over 17 years of business experience in the areas of corporate turnarounds and bankruptcies, lender workouts, capital raising and various interim management positions. Her industry experience includes oil and gas, retail, van line/relocation, for-profit education, airline, vending/food service, manufacturing and healthcare. Prior to joining Bridge, Ms. Lowmiller represented debtors, unsecured creditors and bank groups in formal bankruptcies and out-of-court restructurings at FTI Consulting, Inc.. In addition, Ms. Lowmiller has performed due diligence and transaction assistance on behalf of lenders and sponsors in multiple industries. Prior to FTI Consulting, Ms. Lowmiller worked for William Blair & Company, LLC in Chicago in its investment banking practice where she worked on private and public equity offerings, merger and acquisition transactions, and fairness opinions. Prior to William Blair & Company, LLC, she spent five years at Arthur Andersen LLP in Chicago performing audit and financial consulting services.
Ms. Lowmiller’s clients have included: Rule 706 Expert in the bankruptcy of Calpine Corporation, interim CFO of flexible packaging manufacturer, CRO of oil and gas company, Section 1114 Official Retirees Committee of United Airline Corporation (UAUA); the bank group of Mississippi Chemical Corporation; the unsecured creditors' committees of Factory Card Outlet (FCPO), HA-LO Industries, and Brill Media Company LLC; the debtor in Clark Retail Enterprises, Inc. and non Chapter 11 consultation to The Apollo Group (APOL), SIRVA, Inc. (SIR) and Vanguard Car Rental USA, Inc. (National and Alamo car rental)
Ms. Lowmiller has earned the following certifications: Certified Public Accountant (CPA), Certified Insolvency and Reorganization Advisor (CIRA), Certified Turnaround Professional (CTP) and NASD Series 7 and 63 (inactive). She is also co-chair of the Turnaround Management Association Continuing Education Committee and an active member in the AIRA and ABI. She is also holds various volunteer positions with the Latin School of Chicago and the Rehabilitation Institute of Chicago. |
|
Business opportunities in out-of-favor industries
Even though today's financial malaise has touched all sectors of our economy, certain industries have been hit harder than others. Banking, retail, media, restaurants, insurance, and other sectors have all experienced dramatically reduced valuations, bankruptcies, business failures, and other turmoil. Any good entrepreneur knows, though, that crisis often creates opportunity.
During this panel, listen to entrepreneurs who recently started restaurants, new print magazines, retail stores, and banks in a market where the mass media considers such pursuits something other than “sure things”. Find out about opportunities for entrepreneurs to acquire businesses in these industries, learn what business models might increase the odds for success, and understand what potential investors are looking for in these sectors.
Moderator: William Sutter, Lecturer of Entrepreneurship and Innovation, Kellogg School of Management
Panelists:
- Julian Posada '97, Founder and President, Café Media LLC (Media)
- Steve Sherman '01, Co-Founder and COO, GreenChoice Bank (Banking)
- Marc Brooks '97,Chairman and CEO, MKMB Corporation (Restaurants)
- Mary Liz Lehman '06, Owner, Perchance Boutique (Retail)
|
 |
Julian Posada '97
Founder & President
Café Media LLC
As a Founder and President of Café Media, Julian oversees the vision and strategy of his fast growing media company that targets 2nd and 3rd generation Hispanics through a combination of print, event, e-newsletters and web platforms.
Julian previously served as General Manager for Tribune's Hoy Newspaper, Chicago's only Spanish Daily Newspaper. Julian was responsible for the day to day activities of Hoy Chicago which include Editorial, Sales, Finance, Marketing, Circulation and Production of the daily newspaper. Julian was responsible for setting the tone and guide the newspaper to be relevant to its readers as well a vehicle for advertisers. He was part of the team responsible for launching Hoy in Chicago as well as Los Angeles where he was responsible for National Sales and Marketing.
Prior to these roles Julian has also held senior level positions at Citibank in Colombia SA, was a Principal at the J.C. Williams Consulting group, and Director of Business Development at Querico.com part of Ethnicgrocer.com.
Julian currently serves on the board of the Academy for Urban School Leadership (AUSL) , the American Red Cross of Greater Chicago, Public Allies, The Taproot Foundation, The Metropolitan YMCA and a Trustee of National Louis University among various other boards and committees within the Hispanic community in Chicago.
Julian holds an MBA from the J.L. Kellogg Graduate School of Management and a BS from Michigan State University. He is a McCormick Tribune Media Fellow, winner of Presstime's 20 under 40 as well as selected by Chicago United as a Business Leader of Color and a recipient of the Cook County State's Attorney's Arnold Mireles Community Empowerment Award.
|
|
 |
Steve Sherman '01
Co-Founder and COO
GreenChoice Bank
Mr. Sherman is a co-founder and the Chief Operating Officer of GreenChoice Bank (in organization). In that role, he is helping to develop the systems and processes behind the Midwest's first green community bank, including locations in green buildings, operations that reduce waste and paper through an emphasis on electronic document distribution, a strong focus on supporting the local and sustainable business communities, and a suite of advantaged loan and deposit products that provide incentives to businesses and consumers who embrace sustainability. Prior to GreenChoice, Sherman worked at LaSalle Bank in commercial lending and most recently as a strategic advisor to the bank's President and CEO Larry Richman, as well as in strategy development at Baxter Healthcare and consulting at The Cambridge Group. Sherman received his BA in Economics and Music from Stanford University and his MBA from Kellogg (Class of 2001).
|
|
 |
Marc Brooks '97
Chairman and CEO
MKMB Corporation
A native Chicagoan, Marc B. Brooks enrolled at Northwestern University in 1986 where he played Big Ten basketball and obtained his B.A. in Economics in 1990. After working in corporate America for five years, Marc opted to go back to school to pursue his MBA. He graduated with a degree in Management and Marketing from Northwestern University’s Kellogg School of Management in 1997.
Today, Marc is the Managing Partner of MKMB Corporation, an investment company with capital placed in a variety of industries including: restaurants, hotels, telecommunications and private equity.
In addition to his responsibilities with MKMB Corporation, Marc serves as Managing Partner of a restaurant in Chicago’s historic “Hyde Park” neighborhood, where he oversees the new casual dining restaurant PARK 52. Throughout his career Marc has received vast recognition and numerous awards.
Marc currently serves on the boards of: Brooks Food Group, MKMB Restaurants and is a member of the Museum of Contemporary Art’s (MCA) Audience Development and Diversity Committee. Marc resides in Chicago with his family. |
|
 |
Mary Liz Lehman '06
Owner
Perchance Boutique
Mary Liz Lehman is the founder and President of PERCHANCE Boutique, Inc. Opened in 2007 and recently recognized by the New York Times as one of the top women’s boutiques in Chicago, PERCHANCE Boutique offers a well-edited and collection of women’s clothing, shoes and accessories. The boutique occupies a 1,750 square foot space in the chic Southport Corridor shopping district. PERCHANCE Boutique is known for superior customer service, an inviting “vintage glam” décor and presenting modern day stamps on classically flattering picks from designers such as Diane Von Furstenberg, Alice + Olivia, Rafe, Shoshanna, Bettye Muller, Delman and Cynthia Steffe. Online shopping was recently launched in 2009 at www.perchanceboutique.com
Prior to opening PERCHANCE Boutique, Ms. Lehman worked for Visa USA managing the association’s relationship with its third largest issuer and partner, U.S. Bank. In her 5 years with Visa, Ms. Lehman helped U.S. Bank become one of the leading small business card issuers and contributed to achieving double digit growth of their consumer credit portfolio. Ms. Lehman joined the Visa USA team after serving Visa as a consultant while working for C-bridge, an internet solutions firm based in Boston. At C-bridge, Ms. Lehman consulted for clients throughout Europe and North America including Volkswagon, Motorola, Seagate and Economical Insurance Group in Canada.
Ms. Lehman earned her M.B.A. from Northwestern University’s Kellogg School of Management in 2006 with a focus on Management & Strategy, Marketing and Entrepreneurship. Ms. Lehman graduated from Saint Mary’s College in 1999 with a B.A. in Mass Communications and Political Science. As a passionate champion of education and women’s empowerment in underserved areas in particular, Ms. Lehman contributes time and financial support to several great entities dedicated to such endeavors including the Young Women’s Leadership School, Teach For America, LEAP School in South Africa, Dress for Success and many local community schools. Ms. Lehman lives in Chicago with her husband, Peter, and daughter, Madeleine. |
|
High Growth Investment Areas
A number of business sectors are poised to see significant growth and investment focus in the next few years. Things like renewable energy and green business, health care, social networking, and other industry segments will be significant growth drivers for both the overall economy and for the entrepreneurial enterprises poised to exploit them. Additionally, government spending, particularly related to the recently-passed stimulus package is also expected to drive a number of significant business opportunities in the near future.
In this panel, listen to industry experts and entrepreneurs in green technology, health care, social networking, and government-related opportunities speak about the opportunities available in the short and long terms in these high-growth potential sectors and understand where the best opportunities are for current and would-be entrepreneurs.
Moderator: Derrick Collins, Professor of Finance, Kellogg School of Management
Panelists:
- Patrick C. Eilers '99, Managing Director, Madison Dearborn Partners (Green Energy)
- Gregory J. Kapust '99, President and Chief Executive Officer, Breathe Technologies (Health Care)
- Matt Summy, Co-Founder and Senior VP, ISTC (Government and Stimulus Package Related)
- Mike Samson '04, Co-Founder, crowdSPRING (Web and Social Networking)
|
 |
Patrick C. Eilers '99
Managing Director
Madison Dearborn Partners
B.S., University of Notre Dame; M.B.A., Northwestern University J.L. Kellogg Graduate School of Management. Prior to joining MDP, Mr. Eilers was with Jordan Industries, Inc. and IAI Venture Capital, Inc. and played professional football with the Chicago Bears, Washington Redskins, and Minnesota Vikings. Mr. Eilers concentrates on investments in the energy and power sector and currently serves on the Board of Directors of First Wind Partners, LLC, Magellan GP, LLC, Magellan Midstream Holdings GP, LLC, and US Power Generating Company. Mr. Eilers is also a member of the University of Notre Dame College of Engineering Advisory Council; and serves on the Board of Trustees of Hales Franciscan High School and Cristo Rey Jesuit High School".
|
|
 |
Gregory J. Kapust '99
President and Chief Executive Officer
Breathe Technologies
Greg is co-founder of Breathe Technologies and has served as President and Chief Executive Officer since its inception in 2005. Greg is a medical device industry veteran and has held key management positions at three successful early-stage medical device companies that were acquired for a combined value of over $850 million dollars. Among his previous positions, Greg was President and CEO of Advanced Stent Technologies, a start-up company that was acquired by Boston Scientific Corporation for $120M.
Additionally, Greg was Sr. Director of Global Franchise Management at Edwards Lifesciences and Manager of Business Development at Ethicon Endo-Surgery / Johnson and Johnson. As Global Product Manager at Heart Technology and Progressive Angioplasty Systems, Greg facilitated their growth and acquisitions by Boston Scientific Corporation and United States Surgical for $600M and $150M, respectively. Greg also was a top performer in sales and marketing at SpaceLabs Medical. Greg received his M.B.A. from the Kellogg School of Management at Northwestern University, and his B.A. in Economics from the University of Washington. |
|
 |
Matthew Summy
Co-Founder and Senior VP
Illinois Science and Technology Coalition (ISTC)
Matthew Summy is the co-founder and Senior Vice President of the Illinois Science & Technology Coalition (ISTC). The ISTC seeks to advance the Illinois economy by attracting resources for research and development initiatives, fostering public / private partnerships and promoting Illinois as a global leader in science and technology. Previously, Mr. Summy served as the Deputy Chief of Staff for Policy for the Governor of Illinois. In this role, he led a team that developed and implemented program and legislative strategies in diverse areas from mortgage foreclosure prevention to micro-finance to mass transit funding. He also served as the Deputy Director of the Illinois Department of Commerce and Economic Opportunity where he launched an initiative to provide seed capital and growth equity to technology-driven businesses; as a Vice President with CH Johnson Consulting, a Chicago-based economics and management consulting firm, and; as an aide in both the Office of the Mayor for the City of New York and in the United States Senate. Mr. Summy is also active in Chicago-area arts organizations, including the Bucktown Arts Fest and the Steppenwolf Theatre Auxiliary Council. He holds an MPA from New York University and a BA from the University of Iowa.
|
|
 |
Mike Samson '04
Co-Founder
crowdSPRING
Mike Samson is the co-founder of crowdSPRING and resides firmly at the bottom of the company's ping-pong totem pole. Prior to starting crowdSPRING, Samson was an Emmy Award® nominated Producer and Production Manager with more than 20 years of experience as a senior manager in the film and television production industry. He has worked on dozens of feature film and television projects including "Wall Street," "Bull Durham," "Steven King's The Stand" (miniseries), and "Men in Black II." In prime-time dramatic television, he supervised on TV series such as "New York Undercover" and "Third Watch." Mike has received numerous honors individually and as a team member, including an Emmy Award nomination, DGA awards, and a George Foster Peabody Award. He is a member of the Directors Guild of America and the Academy of Television Arts & Sciences.
Samson has a BA in Mass Media from the University of Illinois and a MBA from Northwestern University's Kellogg Graduate School of Management.
|
|
Recession-Proof Business Models
Despite the common media accounts, many businesses are actually growing and thriving in today's environment. Understanding how an industry reacts to a recession and choosing new opportunities and partners in industries that either perform well in down cycles or that are counter to your own industry's cycle can be critical success components for an entrepreneurial enterprise.
In this panel learn about the industries and businesses that are bucking the current trends by growing and thriving: Who are they? What industries are they in? What strategies from these companies can you leverage for your own opportunities? How can you partner with them or obtain them as customers?
Moderator: Cheryl Mayberry-McKissack, Lecturer of Entrepreneurship and Innovation, Kellogg School of Management
Panelists:
- Thom Disch '83, Serial Entrepreneur
- Paul Darley '03, President and COO, W.S. Darley & Co.
- Linda McGill Boasmond, Owner and President, Cedar Concepts Corporation
- Atlee Valentine Pope '86, President and Co-Founder, Blue Canyon Partners, Inc.
|
 |
Thom Disch '83
Serial Entrepreneur
Thom is a serial entrepreneur having started or worked with several successful new ventures over the past thirty years. The companies that Thom currently owns and manages include:
Handi-Ramp is the premier manufacturer of handicapped access ramping products. The company has also expanded into material handling and safety products. The company's newest product-line, Handi-Treads™, are being introduced into the retail market this year.
Internet-Engine, an internet marketing strategy firm, was also founded by Thom. Web properties created and managed by Internet-Engine have generated over $1 Billion Dollars of revenue for its clients. The company recently released the results of its three year long research project: Retail Search Presence Study, which discusses the successes and failures of retail on the Internet. The Broker Dynamix™ Lead Generation System was launched earlier this year and has received many favorable reviews.
Thom is a Kellogg Grad and is often a guest speaker at Kellogg, U of C and AMA events. He has also been on the faculty of DePaul University's Graduate School of Business teaching the marketing strategy curriculum. Thom and his companies have been discussed in articles in The New York Times, Chicago Tribune, Inc Magazine, CNBC, WGN and WBBM Radio and Forbes.com. Thom has also been a consultant for many brand name companies including General Electric, Ford, Chrysler, Baird & Warner and Underwriters Laboratories.
|
|
 |
Paul Darley '03
President and COO
W.S. Darley & Co.
Paul Darley was elected President and Chief Operating Officer of W.S. Darley & Co. in July of 1998. Under his leadership, sales have increased over 300% in less than 10 years to over $100 million in 2009. Prior to that appointment, he served as Vice President - Sales & Marketing for the Fire Pump Division of W.S. Darley & Co. since 1990.
Founded in 1908, W.S. Darley & Co is a third generation family business, led by Paul and an executive team that has transformed this 101 year old company into a world leader in the fire fighting industry with ISO 9001 certification and an electronic catalog of more than 10,000 items. The company has recently been awarded major Department of Defense Contracts.
He is Past President of the Fire Apparatus Manufacturers Association after serving on its board for the past 5 years. Paul is the youngest person to ever serve as president of this 58-year-old organization. He also served on the Board of Directors of FEMSA (Fire & Emergency Manufacturers & Services Association) for seven years.
Paul has traveled to over 65 countries in his 25-year tenor, and has made over 100 industry speaking engagements.
Paul graduated with honors from St. Ignatius College Prep in Chicago and he holds a BS Degree in Marketing and Finance from Marquette University. He earned his MBA from Northwestern University's Kellogg School of Management in 2003.
Paul is involved with numerous charitable organizations and currently serves as Chapter Chair of the Windy City Chapter of YPO (Young Presidents' Organization).
Paul is married to his high school sweetheart and together they are raising three daughters in Elmhurst.
|
|
 |
Linda McGill Boasmond
Owner and President
Cedar Concepts Corporation
Linda McGill Boasmond is owner and president of Chicago-based Cedar Concepts Corporation. CCC processes raw materials for use in a wide variety of personal-care, household, industrial, and agricultural products marketed under many brand names familiar to both consumers and businesses.
Linda worked for global manufacturers before joining CCC in 1998 as operations manager. She bought the small Southwest Side Chicago company in 2004 and has guided it to over $15 million in sales, nearly 40 employees and more than 50 million pounds of product shipped annually to many Fortune 500 corporations. She is the country's only African American, woman-owned chemical manufacturer.
In April 2009, Chicago United selected Linda as one of their Business Leaders of Color, while Crain's Small Business Forum featured her as a speaker for its "Women Business Owners Tell All" forum. In 2008, she received the Women's Business Development Center Entrepreneurial Woman of the Year "Rising Star" Award and was selected for the Chicago Urban League's nextONE intensive, nine-month business-acceleration program.
Linda has appeared in several recent broadcast programs, including nextTV spotlights that began airing on FOX-Chicago in early 2009, Black Enterprise Magazine's nationally televised "Business Report" and Harry Porterfield's ABC/7 News segment "Someone You Should Know." She has also shared her business expertise with Sky Radio and in an online interview for the Powerful Women Web site. She and her employees frequently host or visit education and training institutes to interest students in science careers and "demystify" chemistry in particular.
|
|
 |
Atlee Valentine Pope '86
President and Co-Founder
Blue Canyon Partners, Inc.
Atlee Valentine Pope co-founded Blue Canyon Partners, Inc. in 1998. Blue Canyon is a Chicago-based strategy consulting firm that helps industry-leading global Fortune 500 business-to-business clients grow. Applying a proprietary research-based methodology developed by Atlee and her co-founder, Blue Canyon’s team of seasoned consultants deliver actionable answers to growth challenges such as commoditization pressures, new business entry opportunities, acquisition strategies, major customer pressures, and strategies in a weak economy. She has co-authored over 40 papers on related business-to-business growth topics, including the most recent entitled How to Sustain and Grow Your Business in a Weak Economy.
Atlee has built Blue Canyon into a unique 20-consultant firm whose engagements span multiple industries in over 30 countries around the globe from Argentina to Zambia. In 2000, she was instrumental in setting up Blue Canyon China, headquartered in Beijing, which operates in partnership with the Tianjin Economic and Technology Development Area (TEDA). Atlee’s background includes senior positions within the consulting industry at Baker & Company’s Business-to-Business Consulting Practice (now part of J.D. Power and Associates) and with Highfield Associates, Ltd., a U.K. consulting company. She began her career in the financial services industry where she held a variety of corporate finance and international finance responsibilities as a Vice President with First Chicago (now JPMorganChase).
Atlee holds a B.A. from the University of the South, Sewanee, TN and earned an M.B.A. from Northwestern University’s Kellogg School of Management. She has contributed research, authored articles and has been a guest speaker at the Institute for the Study of Business Markets [ISBM] and the Strategic Accounts Management Association [SAMA]. Atlee lives in Evanston with her husband and two teenage children. |
|
Financing
One of the biggest hurdles for entrepreneurs in today's market is obtaining financing for growth opportunities. The slowdown in the debt markets and the drop in public and private equity valuations has placed significant pressure on both entrepreneurs seeking funding for new business ideas and existing businesses in need of capital to expand and grow their businesses.
This panel of financiers from across various aspects of the business financing spectrum will discuss the sources of financing that are available in today's market, how those financing requirements have changed after the recent financial crisis, and the best strategies for entrepreneurs seeking debt and equity capital in today's market environment.
Moderator: Mitchell Petersen, Professor of Finance, Kellogg School of Management
Panelists:
- Scott Dickes '96, Founder, Hadley Capital (Private Equity)
- Tipu Chauhdary, Ridgestone Bank (SBA Lender)
- Karen Buckner '98, MK Capital (Venture Capital)
- Bob Okabe, Co-founder, RPX Group (Angel Investor)
|
 |
Scott Dickes '96
Founder
Hadley Capital
Scott Dickes founded Hadley Capital in 1998 with the objective of bringing institutional private equity investing to the small deal marketplace. Since that time Hadley Capital and its affiliates have completed approximately ten control transactions. With a recently closed second fund of committed capital, Hadley Capital is actively seeking new investment opportunities.
Prior to starting Hadley Capital, Mr. Dickes was a VP at Recovery Equity Partners, a turn-around private equity firm in California managing $220 million. He has also worked for Waud Capital, a Chicago-based private equity firm, and he began his career with LaSalle Partners and Continental Bank in Chicago. Mr. Dickes has an MBA from the Kellogg School of Management at Northwestern University and a BA from Duke University.
Mr. Dickes currently serves as a board member at the following portfolio companies: Kelatron, Custom Label and Decal, JRI Industries, Harris Seeds, Packaging Specialists, and i-deal Optics. In addition, Mr. Dickes also serves as a Trustee of the Hadley School for the Blind (no affiliation) in Winnetka, IL.
Please visit www.hadleycapital.com to learn more about Hadley Capital.
|
|
 |
Tipu Chauhdary
Assistant Vice President
Ridgestone Bank
Tipu Chauhdary is currently Assistant Vice President for Government Lending at Ridgestone Bank - a privately held bank out of Brookfield, WI. The bank maintains two offices - located in Brookfield, WI and Schaumburg, IL. Ridgetsone bank has a niche in Business lending utilizing government guaranteed programs (SBA & USDA) and is currently one of the leading SBA lenders in the state of IL.
Under his current role, Tipu has a focus in small business finance in the Midwest. He has financed deals for a wide array of industries including manufacturing, childcare, hospitality and petroleum to name a few. His projects have included franchise financing, acquisition of real estate and business assets, financing of equipment, providing working capital needs as well as business expansion funds.
Prior to assuming his current position, Tipu co-founded the commercial lending division for a boutique Chicago commercial mortgage brokerage firm - JFG Capital. During his tenure with JFG his primary focus was debt financing for various clients. He worked in conjunction with institutions such as Banks, Wall Street firms, Private Equity Firms as well as Private Investors to consummate financing.
Tipu is widely traveled and has had the pleasure of living and working in South Asia, Europe and most recently the US since 2002. He holds a masters degree in Supply Chain Management from the University of Antwerp, Belgium and an undergraduate degree in Engineering from Pakistan. He presently resides in Wilmette, IL with his wife and three daughters. |
|
 |
Karen Buckner '98
Co-Founder
MK Capital
Ms. Buckner co-founded MK Capital. Prior to joining MK Capital, Ms. Buckner served as the Vice President - Operations at I-Works, a start-up outsourced business services company, from 2000-2001. From 1994-2000, she was a research analyst at First Analysis Corporation focused on customer relationship management and call center software. From 1990-1994, she held various financial roles at Heller Financial. Ms. Buckner focuses on the Education Technology sector.
Ms. Buckner currently serves on the boards of the following MK Capital portfolio companies: Apex Learning, EnhanceScape, Retention Education and Smoothstone. Ms. Buckner also serves as a board observer for PECO Pallet.
Ms. Buckner received her M.B.A. from the Kellogg Graduate School of Management at Northwestern University and her Bachelors of Business Administration from the University of Michigan. |
|
.jpg) |
Bob Okabe
Angel Investor
Robert Okabe is a Managing Director of RPX Group where he leads the firm’s efforts to assist universities, research institutions, and corporations create startups from their innovative technologies. RPX Group’s clients include the University of Chicago, Argonne National Laboratory, University of Illinois, venture capital firms, and S&P 500 companies.
An accomplished teacher, Bob has been a lead instructor for the Power of Angel Investing seminar series developed by the Kauffman Foundation for the last three years, and currently serves on the Board of Directors of the Angel Capital Education Foundation as chair of the Education Committee.
He has made twelve investments in startups as an angel investor with one major liquidity event and three other positive returns of capital. Bob is often actively involved with his portfolio companies, having served on advisory boards, management teams, and boards of directors.
His corporate career includes twelve years as an investment banker, participating in dozens of debt, equity, M&A, and advisory assignments while a Managing Director and group head at BancAmerica Robertson Stephens, a Senior Vice President at Lehman Brothers and a Vice President at Kidder, Peabody & Co.
Bob began his business career spending nearly six years in financial management at General Electric. After leaving GE, he was a senior bond analyst for Moody’s Investors Service for two years.
Among other notable consulting clients include the World Bank, the OECD, and the Resolution Trust Corporation.
Bob Okabe was awarded his Bachelor of Science in Finance and Organizational Behavior from Boston University’s School of Management.
|
|
|
|
|
|
|
|
|
For more information, please contact the Larry and Carol Levy Institute for Entrepreneurial Practice at