Capital Club

Ellen Paik cultivates relationships with New Story’s partners and builders to ensure they have a transparent, world-class experience. Prior to joining New Story, she was an investment banking associate at Goldman Sachs, where she was a finalist in the 2018 Goldman Sachs Give Analyst Impact Fund. 

She enjoys exercising, exploring the outdoors, and hanging out with family and friends in Korea and Hawaii.  

[00:01 – 04:54] Opening Segment

• I welcome our guest for the episode, Ellen Paik
• Ellen talks about her background
• The culture of Investment and Banking

[04:55 – 14:26] Driving Innovation within Affordable Housing

• The Issue on Chronic Homelessness and Lack of Access of Adequate Shelters 
• Founding story of the topic and how they address the problem 
• 2014 Earthquake in Haiti
• The solutions made to address the problem 
• Building International partnerships for project innovations 
• Sharing the learnings to others by Open-sourcing

[14:27 – 22:11] The Goal of Innovating Affordable Housing for Homeless

• Impact of having homes to individuals
• The crisis in accessing affordable housing
• Lack of innovation and lack of prioritization of innovating affordable housing
• Advantage of Non-profit Organization 
• The 10-year goal of New Story
• Building partnerships to existing, new groups, and some governments 

[22:12 – 26:50] Closing Segment

• What are the lessons learned during this pandemic?
• Connect with Ellen. See Links Below.
• Final words

Tweetable Quotes:

“Sharing what we learn with the world because it benefits nobody for us to keep the learnings to ourselves.” - Ellen Paik

“I think if we do inspire a lot of people to realize that we have really advanced technology out there, what does it look like to apply it to affordable housing and those who need it the most, I think right by inspiring that question and inspiring others to think about such topics hopefully that kind of, again builds momentum around what we’re able to create with the new affordable housing sector.” - Ellen Paik 

Resources Mentioned: 

• AppleTV  (Docu-Series - Home)
• New Story 

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Follow Ellen on LinkedIn and visit their website at https://newstorycharity.org/.  

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

YouTube

Connect with me:

LinkedIn

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Jake Wiley is an entrepreneur, CPA, a former CFO, and heads client relationships in multiple regions at PWC. He has nearly 2 decades of professional experience building businesses, solving problems, and implementing solutions. Prior to PwC, he was the founder of Solar Inverted LLC, which was later acquired by Palmetto Group, where he led strategic initiatives until late 2018.

Jake Wiley has also been investing in both active and passive Real Estate for the past 15 years, raising private funds for strategic value-add investments and long-term holds. 

[00:01 – 08:12] Opening Segment

• I welcome our guest for the episode, Jake Wiley
• Jake talks about his background
• He also talks about the time he sold his previous company

[08:13 – 12:23] Being an Entrepreneur/Owner and Employee

• What it is like being the Entrepreneur and Owner to being an employee
• Getting the vision and alignment in the discussion with the new owners 

[12:24 – 39:03] The Podcast and its focus

• The Podcast format and where it is focused
• Building and empowering the team with your vision
• Learn by experience, ask and talk to people
• Lessons from starting adventures in building and growing the enterprise
• Personal branding to make a connection with people
• Content of conversations with people in the Podcast 
• Ask for help and focus on empowering people

[39:04 –  43:16] Closing Segment

• Jake’s advice to people going through difficult times
• Look at everything that is causing trouble and find a way to get through it
• Connect with Jake. See Links Below.
• Final words

Tweetable Quotes:

“If you can get the vision, and the alignment early, you’re gonna be in such a better position to move forward.” - Jake Wiley

“Don’t muscle these things out by yourself. There are times where you find yourself in a leadership position and you feel like you’ve gotta figure it out, you’ve got to have the answers. Just ask. Be open. Be vulnerable.” - Jake Wiley

“Try to find a way to spend your time doing what you love because that’s the thing that is gonna wake you up in the morning.” - Jake Wiley  

Resources Mentioned: 

• Jake Wiley 
• Wiley on Business Podcast 
• PwC

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Connect with Jake on LinkedIn.

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

YouTube

Connect with me:

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Winston Justice is an Investment Manager at Alliance Bernstein and a Co-Founder of Electro Coffee Shops. He was a former National Football League Player – the League’s 2010 Walter Payton Man of the Year and has now recruited as financial advisor of Bernstein Private Wealth Management. 

Winston started Wealth Management in 2015 at Wells Fargo Securities in Southwest Florida. He earned a Bachelor's Degree in Public Policy from the University of Southern California and had his MBA Degree from George Washington University.

[00:01 – 07:07] Opening Segment

• I welcome our guest for the episode, Winston Justice
• Winston talks about his background
• Pivoting successfully in the business from being a National Football Player

[07:08 – 18:24] Making an Identity from an Athlete to Corporate Office

• Dealing with career transition
• Athlete’s mindset in building their platforms and creating their network
• Catching up in a Big Corporate World
• Wells Fargo Securities
• Earning Degrees and Certifications from University
• Making the Post-Career Plan
• Surrounding with the best people
• Separating identity as a Player vs being an associate in the office

[18:25 – 30:24] Moving with Career and Passion  

• What happens next being at Wells Fargo
• Financial Manager
• Portfolio Manager
• Difference between going to a big wirehouse to a boutique shop
• The adjustments in moving from Southern California to Middle Tennessee 
•  Becoming a Christian and going in Mission Trips
• Launching Coffee Shops
• Venture capital fund and finance

[30:25 – 37:06] Closing Segment

• What does success look like for Winston Justice?
• Where does he spend most of his time?
• Does he still keep up and watch the game? 
• Connect with Winston. See Links Below.
• Final words

Tweetable Quotes:

“If you surround yourself with the right type of people, when a problem does arise, a biz issue or you have something you want to pursue, you do pull in and ask those questions to get this knowledge and to make a more educated choice.” – Winston Justice

“People would rather talk with a current player that’s actually playing, than one that hasn’t.” – Winston Justice

“Real value is actually roll-up your sleeves and being part of the process of expanding the revenue and not just making investment and hoping it works out.” – Winston Justice

Resources Mentioned: 

• Alliance Bernstein

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Connect with Winston! Visit their website at https://www.bernstein.com/ and send him an e-mail at [email protected] 

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

YouTube

Connect with me:

Haley Zapolski is the Renew Nashville Program Manager for Nashville Entrepreneur Center. She finished her degree in Economics and a Minor in Sustainability and Urban Studies from the University of Michigan.

[00:01 – 05:01] Opening Segment

• I welcome our guest for the episode, Haley Zapolski
• Haley talks about her background
• Her role at Nashville Entrepreneur Center

[05:02 –  19:51] The Entrepreneur Center

• What is The Entrepreneur Center?
• Their purpose to help grow the entrepreneurial landscape in Nashville
• Navigating COVID throughout 2020
• The surge of the Tech industry during COVID
• The opportunities you can find with EC

[19:52 –  25:23] STARTUPS

• What it takes to turn a small idea into a business venture
• Developing a mindset to go against the traditional thinking of how to build wealth
• Red flags for people to watch out for when getting started on a venture

[25:24 –  31:52] Leadership and Management at EC

• Leadership and general work ecosystem at EC
• The future plans of EC for the next 12 months

[31:53 –  35:36] Closing Segment

• Her goal of helping non-traditional founders get in the game of entrepreneurship
• Connect with Haley. See Links Below.
• Final words

Tweetable Quotes:

“Entrepreneurship is a radical act in today’s day and age. It’s a very special thing to get involved with.” - Haley Zapolski

“You can read a million books about how to start a company and it’ll never answer your questions, it’ll never make you feel better. Sometimes, it’s just having a conversation with someone who’s been there, done that, or is going through the same thing.” - Haley Zapolski

“Entrepreneurship is definitely non-traditional thinking, it’s not what they teach you in school. They don’t teach you how to start a company, they teach you to probably work for someone else.” - Haley Zapolski

Resources Mentioned: 

• Nashville Entrepreneur Center

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Connect with Haley on Linkedin, send her an email at [email protected] 

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

YouTube

Connect with me:

LinkedIn

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Eller Mallchok is the Managing Director at Jumpstart Foundry. She oversees the strategic direction of each annual fund, leads fundraising efforts, and serves as the point of contact for all portfolio company founders. After earning a B.S. in Biology from Dickinson College, she made her way back home to Tennessee, where she has been deeply involved in the entrepreneurial and investment ecosystem.

[00:01 – 07:47] Getting to Know Eller

• I welcome our guest for the episode, Eller Mallchok
• Eller talks about her background
• Her role at Jumpstart
• What encouraged her to become part of Jumpstart Foundry
• Investing with female founders and healthcare start-ups

[07:48 –  17:25] Venture Capital Industry

• Eller’s experience as a woman in the industry
• Women representation in the venture capital industry
• Significance of the ‘Black Lives Matter’ and ‘Me Too movement’ in the investment world

[17:26 –  32:51] Jumpstart Foundry

• The difference of Jumpstart Foundry from a Traditional VC Fund
• Typical volume of applications they receive
• Helping the majority of companies achieve “base hits” rather than one company to hit a homerun
• The power of the network they have at Jumpstart Foundry
• Healthcare industry in Nashville

[32:52 –  42:51] Closing Segment

• Themes in management teams that prove successful
• Common things that result to startups failure
• If you were speaking to a student, a recent graduate, or a woman who wants to get into the Venture Capital Industry. What advice would you give?
• Connect with Eller. See Links Below.
• Final words

Tweetable Quotes:

 “I think women inherently have more experience and more exposure to healthcare decisions. They are typically the ones making the most health care decisions in their family unit. So they are acutely aware and understand healthcare.” -  Eller Mallchok

“Two of the things that most often results in startups failing are: no market need and running out of money. So if you can address both of those potential points of failure, then you’re much better positioned for success.” - Eller Mallchok

“the power of your network early on is very very real. Getting even just connected to people in this space is important, and doing whatever you can to bring value to them.” - Eller Mallchok 

Resources Mentioned: 

• Jumpstart Foundry
• Dickinson College

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Connect with Eller, follow her on Linkedin, send her an email at [email protected]. Visit https://jsf.co/ 

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

YouTube

Connect with me:

Hello, and welcome to the conversation on Colloquium. Today I’m excited to have Shawn Goheen of the Goheen Companies with me. Shawn is nationally recognized throughout the country specializing in premium finance life insurance. He is a 28 year veteran in the insurance industry and his reputation has been solely built on relationships and his ethical doings.

[00:01 – 11:31] Shawn Goheen and Goheen Companies

• I welcome our guest for the episode, Shawn Goheen
• Shawn talks about his background
• How he got into the life insurance business
• Premium finance life insurance
• Goheen Companies clientele
• What sets them apart from others in the same space
• Having a service team around you
• The right time to get premium insurance involved in the process
• Collaterals their clients use to structure transactions

[11:32 –  21:08] MSO and Premium Finance

• Effect of rising rates of interest to their business and deals
• Why it makes sense to overfund a high-value life insurance policy
• Management service organizations(MSO)
• Estate planning
• life insurance benefits
• Shawn’s advice to clients in terms of premium finance insurance
• Lessons learned from Shawn’s career in the premium finance business
• The best time they can best serve their clients

[21:09 - 23:20] Closing Segment

• Connect with our guest. See Links Below.
• Final words

Tweetable Quotes:

 “For individuals looking to get into this space, you have to have the banking relationships, clients that want to get into it, and know the pitfalls of it.” - Shawn Goheen

Resources Mentioned: 

• Goheen Companies

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Connect with Shawn on Linkedin or send him an email at [email protected] or [email protected]  

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

YouTube

Connect with me:

LinkedIn

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Welcome to the conversation on Colloquium. Today I’m excited to have someone I met through the pandemic, virtually, Tim Pawul. He is the President of the Minerals & Royalties Council.

[00:01 – 15:04] Tim and The Minerals and Royalties Council

• I welcome our guest for the episode, Tim Pawul
• Tim talks about his background
• His role in The Minerals and Royalties Council
• The Energy Council
• His pivot towards the Mineral space
• Launching the Minerals & Royalties podcast
• Educating the industry about Minerals & Royalties
• Tim talks about mineral rights royalty

[15:05 –  36:14] Royalties and Minerals Market

• Options for individuals to invest in the Royalties and Minerals market
• Growing trends in the market
• Educating groups on the potential of the space
• The purpose of the minerals space
• Having due diligence and taking the time to understand the trends and flow of the market
• Tim’s thoughts on the energy markets
• Resources to educate yourself in the mineral space
• Check out the Minerals and Royalties Council

[36:15 –  43:32] Investment Advice from Tim

• Tim’s advice for investors in response to the Biden Administration’s plan in the market
• Ideal states to be investing in with regards to oil and gas markets
• The right way to get started investing in the oil and gas markets

[43:33 - 45:25] Closing Segment

• Connect with Tim. See Links Below.
• Final words

Tweetable Quotes:

 “It doesn’t matter where we go moving forward. It’s so incredibly important that cheap reliable energy is produced, because it’s the fabric of society for anything we do.” - Tim Pawul

“Do your homework. Meet with lots of different teams. Try to get a tasting menu of what’s out there, what strategies. Then pick something you like, and give it a go.” - Tim Pawul

Resources Mentioned: 

• Minerals & Royalties Council | Energy Council
• Energy Council Podcasts

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Connect with Tim on Linkedin. Send him an email at [email protected]. You can also visit https://energycouncil.com/, to learn more.

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

YouTube

Connect with me:

LinkedIn

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For this episode, we’re joined by Chris Cerrone. He is a Partner at Akre Capital Management. Prior to joining Akre in 2012, Chris served as an equity research analyst for Goldman Sachs & Co. in New York from 2010 to 2012. In that position, he covered restaurant and retail companies.

He began his investment management career in 2007 as a junior equity research analyst with Century Capital Management in Boston. Chris graduated Summa Cum Laude with a B.A. in Economics from Tufts University.

[00:01 – 07:13] Chris and Akre Capital

• I welcome our guest for the episode, Chris Cerrone
• Chris talks about his background and Akre Capital
• Been a partner for 9 years
• Founded in 1989
• The 3 legged stool of Akre
• The focus of Akre
• Building a portfolio of high-quality businesses
• Sector alignments

[07:14 –  26:20] The Art of Not Selling

• The Art of Not Selling
• Impact of Politics, Economy, and Valuation on their Portfolio
• Focusing on businesses that are not as sensitive to political regime changes
• Selling businesses not based on Valuation
• The Enemies of Compounding
• An illustrative riddle that shows the power of compounding
• Building and maintaining relationships with the right people in the industry
• One of the biggest mistakes Chris made

[26:21 –  32:35] Investment Advice from Chris

• How to train ourselves to be better disciplined and hold long term
• Achieve deep understanding
• Simplifying everything
• Chris’ thoughts on the “Robin Hood’s” of the Market and the whole GameStop situation

[32:36 – 41:04] Quick Hitting Questions with Chris

• Chris’ view on the trajectory of the Stock Market for the rest of the year
• Tests to base their decisions in their stock investments
• Recommendations from Chris

[41:05 - 43:15] Closing Segment

• Connect with Chris. See Links Below.
• Final words

Tweetable Quotes:

 “We don’t sell businesses on the basis of valuation.” - Chris Cerrone

“There’s nothing worse than underestimating your management teams, moving on from the business and watching them do terrific things, and you are not there to participate.” - Chris Cerrone

“Compound Interest is the 8th wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” - Albert Einstein

“The simpler ideas tend to do better in time. Simplicity to me is one of my guiding principles, and I think it really does help.” - Chris Cerrone

Resources Mentioned: 

• Akre Capital Management
• The Art of (Not) Selling - Chris Cerrone

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Connect with Chris, visit https://www.akrecapital.com/ 

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

For this episode, we’re joined by Chris Cerrone. He is a Partner at Akre Capital Management. Prior to joining Akre in 2012, Chris served as an equity research analyst for Goldman Sachs & Co. in New York from 2010 to 2012. In that position, he covered restaurant and retail companies.

He began his investment management career in 2007 as a junior equity research analyst with Century Capital Management in Boston. Chris graduated Summa Cum Laude with a B.A. in Economics from Tufts University.

[00:01 – 07:13] Chris and Akre Capital

• I welcome our guest for the episode, Chris Cerrone
• Chris talks about his background and Akre Capital
• Been a partner for 9 years
• Founded in 1989
• The 3 legged stool of Akre
• The focus of Akre
• Building a portfolio of high-quality businesses
• Sector alignments

[07:14 –  26:20] The Art of Not Selling

• The Art of Not Selling
• Impact of Politics, Economy, and Valuation on their Portfolio
• Focusing on businesses that are not as sensitive to political regime changes
• Selling businesses not based on Valuation
• The Enemies of Compounding
• An illustrative riddle that shows the power of compounding
• Building and maintaining relationships with the right people in the industry
• One of the biggest mistakes Chris made

[26:21 –  32:35] Investment Advice from Chris

• How to train ourselves to be better disciplined and hold long term
• Achieve deep understanding
• Simplifying everything
• Chris’ thoughts on the “Robin Hood’s” of the Market and the whole GameStop situation

[32:36 – 41:04] Quick Hitting Questions with Chris

• Chris’ view on the trajectory of the Stock Market for the rest of the year
• Tests to base their decisions in their stock investments
• Recommendations from Chris

[41:05 - 43:15] Closing Segment

• Connect with Chris. See Links Below.
• Final words

Tweetable Quotes:

 “We don’t sell businesses on the basis of valuation.” - Chris Cerrone

“There’s nothing worse than underestimating your management teams, moving on from the business and watching them do terrific things, and you are not there to participate.” - Chris Cerrone

“Compound Interest is the 8th wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” - Albert Einstein

“The simpler ideas tend to do better in time. Simplicity to me is one of my guiding principles, and I think it really does help.” - Chris Cerrone

Resources Mentioned: 

• Akre Capital Management
• The Art of (Not) Selling - Chris Cerrone

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Connect with Chris, visit https://www.akrecapital.com/ 

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

YouTube

Connect with me:

LinkedIn

LIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON!

Hosted on Acast. See acast.com/privacy for more information.

Ron has been recognized with many awards for the success of Source Security & Investigations and his leadership within the company, including BDC Young Entrepreneur Award, five times Atlantic Business Magazine’s Top 50 CEO Award, Junior Chamber International Outstanding Young Person Award, Remy Martin Bold Five under 35 and Ernst and Young Entrepreneur of the Year finalist. 

Ron Lovett is an entrepreneur and leader with a passion for change. He builds brands that challenge and disrupt their industries. Ron loves going back to the drawing board by creating companies with a purpose.

[00:01 – 07:23 ] Opening Segment

• I welcome our guest for the episode, Ron Lovett
• Ron talks about his background
• how he came into real estate business
• Source Security & Investigations

[07:24 – 16:33] Creating Community 

• Workforce Housing and Affordable Housing
• Problems today in Workforce Housing
• How the branding fits to the solution

[16:34 - 38:19] Adding Value to People’s Lives

• The Business Plan to scale the business
• Building relationships with community 
• How they pick for the right people coming on board
• Creating trust between tenants and landlords
• Double bottom-line business where you are doing good and doing well
• How does this business make money 
• Accuracy assets and liquidity event

[38:20 - 43:10] Closing Segment

• Connect with Ron. See Links Below.
• Final words
• lessons he learned from past business
• how he applies it to entrepreneurial business

Tweetable Quotes:

“I believe, through my experience that a lot of businesses like Workforce Housing, the customers there have untapped potential that we are not tapping into. And so, as  unorthodox it sounds, I wanted to tap into that in, as tenants, not just as employees as I’ve done in the past.” - Ron Lovett

“When you sell, when you actually sell an asset, then you crystalized what you’ve done.” - Ron Lovett

Resources Mentioned: 

• VIDA living
• Scaling Culture Podcast

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Connect with Ron, follow him on LinkedIn. Check out his website at http://ronlovett.ca/ 

Connect with Excelsior GP:

Excelsior GP Website

LinkedIn

YouTube

Connect with me:

LinkedIn

LIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON!