GreenSky CEO David Zalik makes novel business model work

Business, Businessman, CEO, Company, Entrepreneur, Founder, Home Repair, Investment, Investor, Technology

When entrepreneur David Zalik went on a roadshow back in 2005 to pitch his idea for a fintech company that would extend instant point-of-sale retail loans, he knew that he had stumbled across a gold mine. But the 32-year-old veteran of the business world had a tough row to hoe when trying to convince banks to loan him the capital that he needed to get his new business off the ground.

Zalik visited dozens of banks in the fall of that year, only to be rebuffed by skeptical looks and promises by bankers to talk to their bosses, meetings that somehow never seemed to materialize. Eventually, Zalik came to terms with the fact that it wasn’t so much the concept behind his new company, which would become known as GreenSky Credit. Instead, it was the revenue model that had bankers spooked. Quite simply, it was a business model that had no historic analogue.

All sides gladly pay when everyone wins

But Zalik would end up being proven right. After being rejected by so many banks, the determined businessman decided to liquidate his entire real estate portfolio and finance the company himself. This would turn out to be a good bet. But even Zalik had doubts in the beginning about whether he could really make the GreenSky revenue model work.

GreenSky would ultimately end up making money from all three of the parties to the transaction although it wouldn’t be advertised that the borrowers themselves are actually paying for some of it. The contractors and retailers who pitch GreenSky loans and with whom the GreenSky borrowers are actually purchasing goods and services pay the highest fee, 6 percent of the principal amount. But these entities are more than happy to pay that fee because the loans are going towards business that they almost certainly would never have otherwise had.

And the fact is that the 6 percent fee that the retailer pays is effectively rolled into the loan itself, meaning that it is really the customer who ends up paying it. But the customers or borrowers couldn’t be happier. That’s because they’re getting to complete projects that otherwise would have fallen through. And the banks themselves pay a 1 percent carrying fee on all loan balances originated by GreenSky.

http://greenskycredit.atsondemand.com/

Shervin Pishevar Warns Of Changes Coming To The American Economy

Business, CEO, Entrepreneur, Investment, Technology

There is something brewing in the United States that we have not seen in our lifetimes if you believe the words of Shervin Pishevar. He feels that we going through a transformative time in the country that is going to shape the way that we all move forward into the future.

As an early investor in Uber, Shervin Pishevar earned a name for himself by being one of the first to put his faith and his money into the company. He not only earned a good reputation for having done this, but he also earned himself a nice bit of money as well. He proved that he knew how to make a good financial prediction.

Twitter has been blessed by the likes of Shervin Pishevar. He has an account that he likes to use frequently in order to inform his readers of his thoughts on how things are going in the economy. He even recently took the opportunity to go on a “tweet storm”. This is a stretch of time during which a person uses their Twitter account to send out multiple messages on the same or similar topics.

The tweet storm from Shervin Pishevar would end up lasting a total of fifty tweets over a period of twenty-one hours. Thus, he was able to keep his followers hanging on his every word the whole time.

During that lengthy amount of time he tweeted about how he feels that the stock market is about to go into a correction. That is when the market corrects by at least twenty percent. That kind of thing is common enough, but the reasons why Shervin Pishevar believes that it is about to happen are something different.

He thinks that China and others are becoming the parts of the world where the newest startups are going to happen. Instead of great companies getting their start in America we will have to look abroad as other countries start to take away the biggest advantage that we used to have over them. He may or may not be right about this, but at least he has a strong track record of predictions from the past.

https://b612foundation.org/members/shervin-pishevar/

The Life and Career of Louis Chenevert

Business, Business Leader, Businessman, CEO, Entrepreneur, Entrepreneurs, Investor

The success of Louis Chenevert will forever be discussed. No one has been able to surpass his legacy in the industry. Many investors around the world are using his mechanisms of running a business. Louis Chenevert has always been a passionate investor. He studied Production Management in the university. A production manager is supposed to work and ensure that the company is maximizing their output, as they minimize their costs.

 

Louis Chenevert worked in UTC for eight years. Before this, he was working at General Motors. Despite being his first company, after school, he enjoyed several promotions, thanks to his hard work and diligence. He even got a chance to oversee the overall production of the firm. After 14 years of service to the firm, he decided to taste other waters, and he moved to the engine manufacturing company in 1993.

 

The Pratt & Whitney was a branch of UTC, at the moment. He took his passion with him to this company as well. As expected; the division he had been assigned began to show significant improvement, which led to his appointment as the President of Pratt & Whitney. When UTC saw the change that he was bringing in the firm; they gave him a bigger responsibility by making him the CEO of UTC. This was the best decision UTC ever made. It was the turning point of the firm.

 

Louis Chenevert joined UTC when the country was going through the recession period. Many firms were not focusing on making progress, all they wanted at this juncture is to remain in business. There were massive layoffs in the industry. However, Louis Chenevert decided to stick with his staff. He says that great plans without a solid team are useless. One needs a great team to evaluate the tasks of the company, and offer quality services.

 

The other thing that changed the fate of UTC is the acquisitions he made for the firm. To begin with, he bought the GTF engine from his former boss. He had seen the potential of the engine while he was working in the firm. His acquisitions helped UTC gain leverage in the industry.

 

The Usefulness of Social Media With Market America

Business, CEO, Entrepreneur, Financial

Social media has become one of the most common aspects of business. For one thing, it has become the internet version of life. People are always on social media posting about their activities. While some people are concerned about the negative effects of social media, Market America and internet marketers have seen the benefits of social media. Therefore, they make it a point to use it to their advantage. Even jobs are affected by social media. People can lose their jobs because of what has been posted about them on Facebook. However, entrepreneurs can thrive off of social media platforms.

One thing that Market America does with social media is connect with people through LinkedIn. One of the advantages of LinkedIn is that it gives people recognition as professionals. Of course, entrepreneurs do not have to limit themselves to LinkedIn. As a matter of fact, people who are trying to market for Market America are going to have a better time if they use some of the more leisure based social media platforms where people are less formal. They can hold conversations and talk with customers about the latest promotion. This can attract customers from the platform and bring in profits.

There are many different methods for Market America users when it comes to social media. The most recommended method for making money with the use of social media is engaging with the customers and slowly building the brand and the trust. Once enough trust is built, then the business owner can enjoy some of the greatest profits. The only thing that the person needs to do is make sure that he is reaching the group of people who like the product and similar products but does not have the particular product that is being marketed to them. In this case, it is a good idea to go for the newer products.

https://www.crunchbase.com/organization/market-america

Sahm Adrangi Issues Report on Pharma Company

Business, Business Leader, CEO, Financial, Financial Advice, Investment Advice, Investor

When you are looking to invest your personal capital, doing the right level of financial diligence is very important. While most people focus on reading reports about companies that discuss their future growth potential, other people and up researching companies that have potential for big losses.

When looking for opportunities that could result in a company losing stock value, you could end up making a lot of money through short selling and buying put options. One individual that continues to provide insight into companies that may have overvalued stocks is Sahm Adrangi, who is the principal of Kerrisdale Capital.

Over the past few years, Sahm Adrangi has issued a number of very insightful reports that discussed the financial condition of many different companies. While many of his views end up being disputed, he is often proven correct in his assessment. Over the past few weeks, Sahm Adrangi issued a report on the prospects of Proteostasis Therapeutics.

Overall, Sahm Adrangi gave a number of good reasons why he thinks the company will not continue to see a high stock price. Overall, the future prognosis of Proteostasis Therapeutics will hinge on the company’s ability to bring a new drug they are working on to the next stage of a clinical trial. The Proteostasis Therapeutics company was recently able to bring a drug used to treat cystic fibrosis through Stage 2 testing with the FDA. While this is a major accomplishment, there is still a lot more work that needs to be done in order for them to be able to bring it to market. While Proteostasis Therapeutics has seen a big increase in value due to the Stage 2 test, the company could suffer if it is not successful in bringing it through Stage 3.

According to Adrangi, there is plenty of reason to doubt that Proteostasis Therapeutics will be able to bring their next drug through the next stage of clinical trials. He also believes that the company has tried to stay compliant by producing interim reports, but he believes that a lot of the information provided has been swept under the rug.

http://www.businessinsider.com/meet-hedge-funder-sahm-adrangi-2013-10