Wisdom.MBA

For this episode, I try something a bit different by having two guests on the show. I interview fellow classmates from the Executive MBA program at Duke. Bailey Smith and Noah Smith (no relation) were both Navy Surface Warfare Officers (SWOs) with deployments in the Arabian Gulf and South China Sea. They both share their experiences from their time in the Navy and the challenges and similarities of managing sailors versus employees. 

Noah completed this undergraduate degree from Clemson University and is now a Product Manager at Corning Incorporated, one of the world’s leading innovators in materials science. Bailey graduated from Cornell University and is an Assistant Vice President of Global Technology and Operations at the Bank of America.

In addition to talking about life in the Navy, we have open and candid conversations about what it is like to balance work, family and school during COVID-19, transitioning to all online classes, and in Bailey’s case, having a child while in the program and doing classes from the hospital the day after giving birth. If you are a perspective student contemplating an Executive MBA, I would encourage you to take a look at the podcast show notes to skip ahead as needed to where we provide our advice on how best to manage the program and give tips for success.

Discussion Topics:

(2:02) Deployments and navigating ships at Sea. 
(9:22) Dealing with sleep deprivation.
(15:18) Naval officer portrayal in movies and literature.
(18:40) Traveling the world and favorite port calls.
(21:41) Earning trust and managing sailors versus employees.
(28:37) The decision to pursue an EMBA and why the format works.
(35:30) Adjusting to all online classes.
(42:55) Rapid fire questions on the pros and cons of an EMBA program.
(52:55) Time management advice for working parents doing an EMBA.
(1:04:01) #1 piece of advice for success in an EMBA program
(1:06:39) Having a child in the middle of term 2.

Joe Colopy is the founder and former CEO of Bronto software, a cloud-based provider of commerce marketing automation headquartered in Durham, North Carolina. Bronto grew its revenue from zero to $50 million dollars over fifteen years with a $200M exit in 2015, selling to NetSuite which was then acquired by Oracle. I’ve known Joe since 2006 when I started using the platform and have watched it grow and become an industry leader in omni-channel marketing. 

Recently, Joe launched Jurassic Capital which invests in B2B software companies throughout the Southeast, leveraging his experience to help growth-stage software companies scale. Two years ago, he also launched GrepBeat which covers tech news and views for Raleigh-Durham and the surrounding area. It’s like TechCrunch for the Research Triangle Park with a bit of Buzzfeed. It is a great resource for entrepreneurs in the area to help their voices be heard and put RTP on the map as an emerging and world-class business hub. 

Joe completed his undergraduate degree in Computer Science and Economics from Harvard University and has an MBA from the University of North Carolina at Chapel Hill. With an MBA and Computer Science degree, Joe and I get pretty technical and talk about what it takes to scale a software business, hire and recruit developers, and we discuss future trends in digital marketing. Joe also provides his insight into how best to leverage an MBA education and the relationships you build while at school.

Discussion Topics:

(2:43) The skills needed to start a business and then scale it.

(5:44) Keeping motivated when faced with failures and setbacks.

(8:40) Bootstrapping a business from the ground up with the right partner.

(12:45) Launching GrepBeat and helping entrepreneurs share their stories.

(18:04) Building company culture and recruiting and retaining software engineers.

(23:56) Community involvement and Joe’s experiences in the Peace Corps.

(29:35) Future trends in omni-channel digital marketing.

(38:11) Advice for putting an MBA education to best use in one’s career. 

Judy Toran Cousin is a business builder and strategist with over 20 years of experience in business development, marketing and management of large corporations, start-ups and non-profits, including Salick Health Care, Health Management Advisors, Reebok International and Procter and Gamble. Judy has an MBA from Harvard Business School and a Bachelor of Science in Business Administration from the University of Southern California. Judy and I worked together at Circle Graphics, which is the world's foremost producer of grand and large-format digital graphics. The company also produces business and transit signs and has developed disruptive and very innovative wall décor products.

Judy joined Circle Graphics in August 2012 as Chief Strategy Officer and General Manager of the Consumer Digital Printing division. From 2016 to 2020, she was the Chief Marketing and Innovation Officer, acting as the primary steward of the Circle Graphics brand across the company's multiple business units, with an emphasis on innovation and differentiation.

Judy and I take a deep dive into Intrapreneurship, acting like an entrepreneur while working within a large organization. She excels at building successful business units within a company, scaling them into sustainable and profitable divisions. She shares her insights and processes for growth and getting companies to adopt a culture of innovation, something that is particularly important for businesses having to adjust to COVID-19. Judy also shares some great insight for female executives and recent MBA grads.

Discussion Topics:
(2:57) Intrapreneurship & innovation.

(4:35) Overcoming resistance to change in an organization.

(5:20) Building a culture of innovation.

(10:07) Identifying industry trends for new product launches.

(13:02) Judy’s favorite product she has worked on.

(15:01) Motivating young employees with intrapreneurship opportunities.

(20:07) Using intrapreneurship to adjust during COVID-19.

(27:36) The Harvard MBA experience.

(29:02) Advice for female executives and recent MBA grads. 

Cate Gropper is a fellow classmate in the Executive MBA program at Duke University. Cate works as a Production Manager at NBC News' TODAY Show. Cate is the primary contact for NBC teams in the field, handling all the logistics for live-broadcasts, including managing all on-site crew, communicating with the Control Room and handling any location-specific challenges. Having worked on projects in Northern Alaska and Greenland with Al Roker, we discuss the struggles of filming in such remote locations. Cate also discusses her time working as an NBC Universal page, meeting Leonardo DiCaprio and adjusting to working in a newsroom during COVID-19.

Cate and I also discuss what it’s like to be MBA students with full-time jobs adjusting to online classes while under quarantine, and we provide advice for those about to start a program.

Discussion Topics:

(1:28) Cate discusses her role as a Production Manager at NBC.

(5:13) Working on “Al in the Arctic” with Al Roker in Northern Alaska.

(15:05) Filming “Climate in Crisis” in Greenland.

(19:50) Working as an NBC Page during Saturday Night Live’s 40th Anniversary special.

(23:53) Has Kenneth Parcell helped or hurt the page program at NBC?

(25:45) Working in NYC broadcasting during COVID-19 lock downs.

(32:15) Advice to students entering MBA programs during lock downs and quarantine

(38:15) Cate discusses why she selected an Executive MBA over a daytime program.

(44:01) Applying an MBA education to work.

Chidi Erike is a Client Partner at Facebook where he helps clients like Unilever, Peloton and Starbucks optimize their businesses across Facebook’s ad platforms. I met Chidi a few years back while I was attending a Facebook marketing summit. I was impressed with a presentation he gave on leveraging the platform for growth and taking an analytical approach to optimizing social media ad spend. Having worked at JPMorgan, Merrill Lynch and SocialCode, Chidi leverages his experience in banking and technology to identify opportunities and solve problems for large growth companies and help them reach their potential through strategy, marketing, and operations. Chidi also helped launch Facebook Elevate, a program designed for women and minority-owned businesses, providing them with customized workshops focused on business solutions and reaching new customers.

Chidi has a BS in Marketing and Finance from State University of New York at Albany. He completed his MBA from Duke in 2012 with a focus on Strategy and Finance. He was also a professional basketball player, so Duke fans, we also talk about one of my favorite topics – Duke Basketball.

Discussion Topics:

(1:43) Chidi’s roles at Facebook from ad auctions to client partnerships.

(5:45) Leveraging a background in Finance at Facebook.

(6:40) How best to improve one’s marketing on Facebook/Instagram.

(14:35) Optimizing creative for engagement.

(16:59) Instagram shopping.

(20:44) Spooky Instagram ads. Are you listening to my phone?

(25:56) COVID-19’s impact on advertising and businesses.

(32:45) Diversity & inclusion at Facebook Elevate.

(40:37) Why Chidi selected Duke over other schools.

(42:00) Playing professionally & thoughts on Duke Basketball.

Ted Baker is the co-founder of QALO (pronounced “kay-lo”), an active lifestyle company which was started in 2012. Their hero product, a functional silicone ring, has disrupted the multi-billion dollar wedding ring industry. In 2018, QALO was ranked #151 on Inc. Magazine’s fastest growing companies list. People like Lebron James, Dale Earnhardt Jr and Steph Curry now wear them. Ted’s story is a great example of how new innovative products can create a white space, unlocking unmet sources of customer value while capturing share in established markets. Ted shares his insights on the grit and tenacity it takes to bootstrap a company to phenomenal growth. Ted earned his MBA, with a focus in entrepreneurial and small business operations, from Loyola Marymount University. He currently serves as Board Chairman of www.qalo.com.

Discussion Topics:

(1:29) Backstory on how and why Ted started QALO.

(5:35) Launching without outside investment.

(7:35) Brand, culture and building an active lifestyle brand.

(14:30) Dealing with new competitors after explosive growth.

(17:26) Innovation and new product launches.

(22:57) Selling on Amazon and omni-channel marketing strategies.

(29:15) How to bootstrap a company for growth.

(35:40) Variable marketing and return on advertising spend (ROAS).

(40:45) Leveraging a business school education as an entrepreneur. 

Wisdom.MBA is a podcast where I interview business school students, professors and alums. We look to share wisdom, focusing on the hard-lessons learned through different career, school and business endeavors and share insights into how you can put a business school education to best use.

On this episode, I interview Ari Medoff who is a good friend and business advisor with a wealth of experience in search fund entrepreneurship, also known as Entrepreneurship Through Acquisition (ETA).  ETA is a challenging and at time lonely path, but if successful, it can be a great way to own equity in a business and become a CEO at a young age. If you’ve had dreams of owning your own business or are just interested in learning more about the search fund process, I think you’ll enjoy this podcast.

Ari earned an MBA/MPP from Harvard Business School and Kennedy School of Government. Before that, he worked as a Venture Capital/Merchant Banking Analyst at Lehman Brothers in New York where he was part of teams investing in consumer products, healthcare services, hotels, and enterprise software. Ari founded Arosa LLC in 2011 as a self-funded searcher and completed his acquisition of Nurse Care of North Carolina, a premier provider of in-home care services, where he serves as CEO.  Since that time, he has also completed numerous other acquisitions within the healthcare space. Ari teaches a seminar on Search Funds at HBS and is also a board member of a number of great organizations in North Carolina.

Discussion Topics:

(2:00) Venture Capital at Lehman Brothers.

(9:45) Being a good Operator/Investor.

(11:45) The mindset required to be a Search Fund Entrepreneur.

(16:23) Why search funds are growing in popularity.

(23:18) Tenacity, loneliness and the challenges of searching for a business.

(33:30) Post-acquisition and the transition phase.

(40:29) Building trust and setting a vision for your new business.

(44:29) The wisdom of long-term business focus.

(48:34) Pivoting a healthcare business during COVID-19.

(53:37) Volunteering in the community as a business leader.

Welcome to Wisdom.MBA a podcast where I interview business school students, professors and alums. We discuss economics, finance, entrepreneurship and more.

 But most importantly, we look to share wisdom, focusing on the hard lessons learned through different career, school and business endeavors and share insights into how you can put a business education to best use.

 Whether you are a prospective student considering an MBA or a fortune 500 CEO, hear advice from other professionals with diverse backgrounds and very unique stories.

 I am your host Gavin Jocius. I’ve spend 19 years working in eCommerce and technology and have helped sell a few companies along the way. I am also the founder of River Wise ventures where we look to invest in promising startups and acquire eCommerce businesses. Learn more about me at https://www.linkedin.com/in/gjocius/