LAUNCH_SUM2012
- 1. SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 1l a u n c h m a g . c o MICHAELCHESHIRE BRYANELLIOTT VIKASKHANNA CESARROSAS
- 2. 2 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o LAUNCH! LAUNCH! Magazine celebrates the creativity, dedication to responsible business practice and entrepreneurial spirit of students and alumni at Pepperdine University’s Graziadio School of Business and Management. These principles are fundamental to its values-centered mission, which the school and its faculty have embraced and actively advanced for more than 40 years. PUBLISHED BY GRAZIADIO SCHOOL OF BUSINESS AND MANAGEMENT © 2012 PEPPERDINE UNIVERSITY DEAN: LINDA A. LIVINGSTONE, PH.D. ENTREPRENEURSHIP PROGRAM: Larry Cox, Ph.D. PUBLISHING EDITOR: Dianne King EDITOR: F. Douglass Gore III EDITORIAL ASSISTANCE: Jaime Quigley PROFILES: Amy Biemiller Lightstream CONTRIBUTING PHOTOGRAPHY: Leroy Hamilton Ron Hall Shutterstock.com WHAT ANGELS WANT YOU TO KNOW ABOUT FINANCING YOUR BUSINESS ENTREPRENEURS MICHAEL CHESHIRE Jungo Toys VIKAS KHANNA Zoovee Ventures BRYAN ELLIOTT Linked Orange County CESAR ROSAS Primavera Capital MODALMINDS IMCOMPLI CONTENTS 4 6 10 8 3 12 17 16 THE SHORT LIST NICHOLAS STANKEVICH Founder, Aquatics Now Swim School 14 JENKINS CHARMS SPOTLIGHT FEATURES
- 3. SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 3l a u n c h m a g . c o SPOTLIGHT ModalMinds http://www.modalminds.com FOUNDERS Stefan Hofmeyer, Executive MBA 2012 Adam Signaigo FOUNDED 2011 COMPANY ADDRESS 201 Spear Street Ste 1100 San Francisco, CA 94105 United States INDUSTRY TYPE Consulting Services NUMBER OF EMPLOYEES Two AVERAGE ANNUAL REVENUE Confidential PROBLEM SET OUT TO SOLVE Organizations often struggle with the limited choice of utilizing high priced consulting teams, detached offshore vendors, or constrained internal resources to execute mission critical process and technology initiatives. BUSINESS IDEA/SOLUTION Provide oversight and execute mission critical process and projects leveraging integration and cloud technologies that deliver value within 90 days and establish efficiencies for internal teams and third party management success COMPANY MISSION To provide management, technology, and process leadership that enables businesses to realize investment goals effectively, efficiently, and ethically TARGET MARKET Midsize to fortune 500 companies completing enterprise process and technology initiatives, M&A activities, or project remediation In recent years, project and operational delivery models have dramatically changed. Two of the most important change factors have been the maturation of integrated offshore capabilities and the explosion of cloud based services. At modalminds, we continually evolve our advanced services to support innovation, modernization and core project execution to deliver dramatic results. We focus on high-impact, surgical engagements to enhance—not replace—offshore, on-premise and cloud based assets. Often times we see internal teams and third party consultants in a cycle of costly delays and sub-optimal delivery, leading to long term business inefficiencies and risks of business failure. Our business enablement services address these challenges by implement- ing innovative and critical programs tied to return on investment (ROI) capture in less than 90-days. For our clients, it is that simple. --------------------------- ModalMinds has two employees currently and services clients with 10+ affiliated consultants. In 2012 and moving forward the firm is looking to hire full time management and integration technologists as we build our business. Stefan Hofmeyer
- 4. 4 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o What Angels Want You To KnowAbout Financing Your Business An excerpt from the forthcoming LAUNCH! e-book Actionable Entrepreneurship A ngel investors are one of the oldest sources of capital for start-up entrepreneurs. These individuals provide financial backing to start-up companies to initiate or expand a business. They often fill the gap between capital secured from friends and relatives and venture capital you may hope to secure later in the life of your business. Typically, angel investors look for four things before providing capital to an entrepreneur. First, they want to see a potential for a return; they want to make money on their investment. Second, they expect to be involved in your business. Third, they want to see that you have taken specific steps to move the business along. Finally, because they will provide funding to start the business or get it to the next stage, they want to see a viable exit strategy that defines how they will reap a return. 4 | LAUNCH! MAGAZINE| ISSUE NO. 5 | SPRING 2012
- 5. SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 5l a u n c h m a g . c o direction. If you can’t realistically explain the numbers that define your business, angels will lose confidence in you. Because angels do not want to be involved in your business forever, they want to know both the plan and the timeline for a return on their investment. You must clearly show the opportunity for profit—whether that be a projected sale of shares to company principals, or a sale or merger of the business. Do not suggest an IPO as an exit strategy. IPOs are not only rare, but costly, and suggesting that as an exit strategy indicates that you do not have a realistic focus on your business. When it comes to commitment, angels are looking for more than just a commitment to the idea. If you are asking investors to help fund your idea, you need to show that you have a financial investment in your business. Expect to define where your current capital is coming from. If you are not willing and able to invest in your own business, angels will not consider yours a serious opportunity. What angels want you to do If you get the opportunity to pitch to a group of angels, remember that they want to get excited about your business idea. They want to invest in an opportunity to make more money. Your job, during the presentation, is to give them everything they need to feel confident about inviting you back to for further discussion. For the presentation, arm yourself with an executive summary and a 12-15 slide PowerPoint presentation. There should be one slide for each item that is most interesting to investors: the problem , your solution, the business model, the underlying magic or competitive advantage, the marketing and sales strategy, the competition, the management team, your financials, and the current status of the business. The PowerPoint should be created using 30-point font, which is large enough to be read from the back of a room and which provides only enough room for a quick read. Clearly, structuring a PowerPoint this way limits the number of words on each screen. That’s a good thing. Investors want to hear you expand on your idea. Your verbal presentation helps them gauge your passion. This is your opportunity to connect with them by presenting your idea in a clear and interesting way. They can read the screen – they want to hear the details from you. What angels want you to know about their decision-making process It all starts with your application for funding. In the application, you will describe yourself, your business, and your management team. Your application will be prescreened by a panel that has domain expertise in the area in which your business falls. They will determine if your business has merit for investment now, whether it may have merit but need more seasoning before they want to invest, or whether the idea is just not one that that group of angels is interested in funding. If your idea has merit, you will be invited to give a presentation. The presentation is usually short – somewhere between 15 and 30 minutes. This is your opportunity to engage the angels with the potential of your idea. No funding comes from the presentation. Rather it is your chance to prove the value of your idea and to demonstrate your competency, so they will invite you back for further discussion. Angels want you to know that they fund a very low percentage of business ideas that pass through the review and presentation stage— typically less than 5 percent. Of those they do fund, about 35 to 40 percent will never provide a return on the investment. Another 30 percent will typically return the money invested, but no more. About 15 percent will return four to five times the investment, while fewer still will be blockbusters. There is money to be made, but angels are very discriminat- ing in what they invest in. If they do invest in your idea, you can expect demanding terms, not only in the percentage of ownership in the company, but also in their actual involvement in the operation of the company. Angels are often entrepreneurs themselves, so they expect to not only provide funding, but to be actively involved in your business. What angels want you to know about their focus There are as many angels as there are different business interests. Some angels look for tech start-ups, some look for new entertainment enterprises, and others look for retail innovations. But no matter the type of the business focus, they all want to see two specific things from the entrepreneur: realism and commitment. When you project revenue, be hardline realistic. Projecting $500,000 in the first year and then $10 million by the fourth year is a red flag to potential investors that you do not have a reasonable business plan or
- 6. 6 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o ENTREPRENEUR MICHAEL CHESHIREJungo Toys W hen boyhood friends, Mike Cheshire (MBA ’11) and Tom Aiezza, set out to create something from nothing, they invented a new generation game from a classic pastime and called it Flickerz™, the world’s first flickable flying discs. The first and flagship product of Cheshire’s and Aiezza’s company, Jungo Toys, Flickerz have been described as a cross between Frisbee discs and “bottle caps on steroids.” They are less than two inches in diameter but can fly over 90 feet in the hands of a skilled user. “My business partner, Tom, and I grew up across the street from each other back in Farmington, CT,” Cheshire explains. “We were always big Frisbee players and enthusiastic fans of anything that could be tossed, flown, flicked, or otherwise flung into the air. We used to invent games and flick around different kinds of bottle caps, either at each other or at targets we made in our backyard.” Cheshire’s road to entrepreneurship began with a job layoff in the fall of 2008. He took the economic downturn as an opportunity to earn his MBA at Pepperdine, taking a concentration in Entrepreneurship with a SEER Certificate (SEER stands for Socially Environmentally and Ethically Responsible Business Strategy). 6 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012
- 7. SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 7l a u n c h m a g . c o MICHAEL CHESHIRE, MBA ‘11 COMPANY NAME: Jungo Toys COMPANY URL: http://www.jungo.com LOCATION: Los Angeles, CA PROBLEM SET OUT TO SOLVE: There were no products on the toy market that were actually meant to be flicked and could achieve the graceful flight of a much larger flying disc. BUSINESS IDEA: Create new toys from classic pastimes, such as bottle cap flicking and flying disc tossing. MISSION: Apply the concept of “Jungo” (Latin for “bring together”) to enrich life’s experiences and relationships by giving people fun ways to play and interact. TARGET CUSTOMER: There were no products on the toy market that were actually meant to be flicked and could achieve the graceful flight of a much larger flying disc. YEAR FOUNDED: 2011 AVG. ANNUAL REVENUE: Confidential NUMBER OF EMPLOYEES: Two “While in school, I had the opportunity to refine and craft my business idea, both in and out of the classroom. There were so many great resources available to me at Pepperdine, from an engaged faculty and staff to courses in business plan writing and events like the business plan competition. By the time I graduated, my business idea was starting to look like a real business. After that, there was no turning back.” In their entrepreneurial journey, Cheshire and Aiezza have lived a real-life example of a business process Cheshire learned at Pepperdine. “This has been a journey of what Professor Larry Cox would call ‘effectual reasoning,’” Cheshire says. “Most people approach problem solving with a specific goal and a given set of means for reaching it. Using this ‘effectual reasoning,’ we flip that process over and start with only a set of means and, in the process, our goals gradually emerge.” Taking on new and exciting tasks on a regular basis is the best part of entrepreneurship for Cheshire. “I love getting to learn something new each day,” Cheshire explains. “It is, in fact, the discovery process and the learning curves themselves that enable us to truly grasp and understand our surroundings and to know how to best navigate them in the future. Everything we do in this business requires us to try and fail at least once before succeeding. This constant learning and relearning and navigating through uncertainty is what I have loved most about being an entrepreneur.” On the other hand, knowing when and where to spend, and not to spend, their money has been the greatest challenge for the two. “We began this process with the goal of bootstrapping and spending as little money as possible,” Cheshire says. “There are some things that are really worth spending money on. Identifying these can be a tedious process. Ultimately, it comes down to knowing which business functions are best outsourced and which can be handled on your own.” Cheshire’s choice to be an entrepreneur was a natural outgrowth of his desire to challenge the status quo. “I like to think that just because something has never been done before doesn’t mean that it can’t be done,” Cheshire continues. “You have to have passion and a belief that you can succeed. If you are not willing to stand up for yourself and your ideas when people are telling you that you are crazy, then you should think carefully about whether entrepreneurship is right for you.” He advises Pepperdine students to, “first and foremost, take full advantage of all the wonderful resources that Pepperdine has to offer.” “Pitch your idea in class,” Cheshire says, “and get as much feedback as possible. Reach out to your alumni who are eager to help you succeed. Enter into the business plan competition; you will absolutely come out of it with a stronger and more feasible plan.” Jungo Toys co-founder Tom Aiezza demos Flickerz™.
- 8. 8 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o8 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 ENTREPRENEUR BRYAN ELLIOTTLinked Orange County S ometimes stunning success comes out of stunning desperation. That was the case for Bryan Elliott (BS ‘99), who left a 15-year career in brand marketing to go it alone in his own production company. He focused on creating original video content and consulted with businesses on creating marketing strategies and business plans. That move brought happiness and success—for a while. But then the economy fell apart and Elliott’s pipeline of clients dried up. “My fourth child had been born a month prior to the collapse and I started to panic,” he explains. “I felt desperate and afraid. Up to that point, I had been spoiled with clients coming to me.” What Elliott was lacking was a safety net and he learned a valuable lesson. “I had never made time to network because I had always been too busy,” he says. “Because I failed to keep my connections warm and stay in touch with people, I didn’t have a community to turn to for support when I needed it.” From that desperate time came an idea: harness social networks to make networking more efficient for entrepreneurs. “From this experience I can share an important lesson with other entrepreneurs,” says Elliott. “When you fail, quickly get back to work on your plan. Expect bad things to happen, but also expect good things to happen.” 8 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o
- 9. SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 9l a u n c h m a g . c ol a u n c h m a g . c o BRYAN ELLIOTT, BS ‘99 COMPANY NAME: Linked Orange County COMPANY URL: http://linkedoc.com LOCATION: Rancho Santa Margarita, CA PROBLEM SET OUT TO SOLVE: Find an easy and effective way to educate business people who are looking to find ways to run a successful business and create monthly in-person networking events. BUSINESS IDEA: Give business owners regular networking opportunities and educational exposure to world-class experts who can share expertise and insights to solving real-world entrepre- neurial problems. MISSION: Connecting. Business. People. TARGET CUSTOMER: Orange County businesses YEAR FOUNDED: 2009 AVG. ANNUAL REVENUE: Confidential NUMBER OF EMPLOYEES: One, plus 20 volunteers who help with administration and 10 contractors who help with web development, video production and more Good things did begin to happen when Elliott created Linked Orange County, an online business community representing the major industries in Orange County. Once launched, the community gained 500 members by the end of the first month. By the end of the first year, membership stood at 5,000. Elliott puts his whole being into the process, planning and hosting monthly events, bringing in industry experts, writing articles, posting informa- tion and news, writing a newsletter, monitoring thousands of membership requests, managing and commenting on discussion boards on multiple social networks, answering hundreds of daily emails, and meeting and connecting members. The result is that he has helped position the county as a hub for thought leadership, savvy new media implementation and a good place to do business. “Linked Orange County is where members form community and prosper,” he says. “Our goal is to be the leading community network of businesses in Orange County.” Elliott does not necessarily equate membership numbers with the success of the endeavor. Rather, success comes from the right mix of members, collaboration, and idea sharing. “While there is strength in numbers, we don’t measure value by how many members we have. We are not keeping score of our popularity or adding hundreds of new ‘friends’ we may never know,” he explains. “We’re interested in people who understand that the real value of social networking is when it translates into meaningful relationships of trust. This is meant to be a place where members form a community and help each other to prosper. It’s a place where innovation, creativity and collaboration thrive and where self-promotion takes a back seat to generosity.” Today there are over 12,000 members of Linked Orange County. Members market their products and services on the site. They meet at specially-coordinated networking events and have the opportunity to hear from celebrated experts like Seth Godin, entrepreneur and author who focuses on marketing and on analyzing the way ideas spread, and Gary Vaynerchuk, social media guru and author of The Thank You Economy. The impetus of Linked Orange County also provided a boost to Elliot’s production company, Behind the Brand (http://behindthebrand.tv). It renewed Elliott’s energy, enabling him to increase his location shoots and to create problem-solving content for small business owners and entrepreneurs. His interviews and profiles of A-list companies and innovators include Kawasaki Motors, JD Power and Associates, Wells Fargo, actor and entrepreneur Rainn Wilson, and pro surfer Bethany Hamilton. Episodes air on multiple channels locally and nationally including Cox Cable TV, Mashable.com, Entrepreneur.com, Apple TV, Roku Box and more. Through it all, Elliott maintains that the reason this venture is a success is that he learned from the failure of his first venture. “The difference between being a victim and a survivor is your perspective,” he says. “Survivors don’t let the unfortunate and often tragic things that happen stop their progression or take away their power.”
- 10. 10 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o ENTREPRENEUR VIKAS KHANNA Zoovee Ventures F or Vikas Khanna (Presidents and Key Executives MBA ’11), founder and managing director at Zoovee Ventures, life as an entrepreneur began at the age of 18. “I remember coming home one night from work at my first real job,” Khanna says, “and my father said to me, ‘Why do you want to work for someone else when you can work for yourself?’” Shortly thereafter, Khanna quit his job and started his first company. “My family emigrated from India in 1979. When they first arrived in the U.S., they held menial jobs to help get us settled. Eventually, through their hard work, they opened businesses that I was involved in. So I guess you could say that my entrepreneurial foundation originated through osmosis.” Khanna has held executive corporate positions as well. He was a founding team member of NextWeb, Inc., a VC (“venture capital”)-backed wireless Internet service provider. During his time there, the company grew to dominate its market segment, achieved national recognition as an Inc. 500 Company (#104 in 2005) and was acquired by Covad Communications in 2006. At Covad, Khanna was vice president of technology strategy, developing new products and services to drive revenue growth opportunities for the company. “First and foremost, I live in the world of ‘and’ not ‘or’ so I don’t have to choose between working for someone and being an entrepreneur. I’ve been fortunate to have done both and have learned much as a result,” says Khanna. “It doesn’t matter what role I play, but it does matter what work I do. I focus on the opportunity, my ability to give back as part of the process and whether the work will make a difference or not. When those three align, the role that I’m in becomes less relevant to me.” 10 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o
- 11. SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 11l a u n c h m a g . c o VIKAS KHANNA, PKE MBA ‘12 COMPANY NAME: Zoovee Ventures COMPANY URL: www.zooveeventures.com LOCATION: Silicon Valley, CA PROBLEM SET OUT TO SOLVE: Help people achieve their dreams through the free enterprise system. BUSINESS IDEA: Identify and work with people who have persistence and high ambitions, and who believe that creating is living—then, create something together. MISSION: Give back and make a difference. TARGET CUSTOMER: Technology and healthcare companies YEAR FOUNDED: 2010 AVG. ANNUAL REVENUE: Confidential NUMBER OF EMPLOYEES: Confidential Khanna’s current company, Zoovee Ventures, is a boutique investment and business-consulting firm based in the Silicon Valley. “It’s about passion and focusing on what you want,” Khanna says. “My company gets involved because we enjoy helping true ‘early stage’ businesses, mentoring young entrepreneurs and participating in the development of an emerging company.” Being an entrepreneur has been a tremendous education for Khanna, who has learned much about himself, the market, how to think, how to work with others and how to make a difference in the world. “I have been beaten up emotionally, physically and every way possible on the roller coaster known as ‘entrepreneurship,’” Khanna says. “I have celebrated success and witnessed utter failure—all valuable lessons that have helped shape who I am today. The most valuable aspect of this entire journey has been staying mindful of what’s really important in life and affirming my life’s mission: to give back and to make a difference. I believe that we are placed on this great world to serve and each one of us has a responsibility to ensure that we give back so that we can pay it forward. That is what the circle of life is all about.” Living in the “VC world” of Silicon Valley taught Khanna that having an MBA is an unspoken requirement of being in the venture business. That’s when he turned to Pepperdine’s Presidents and Key Executives (PKE) MBA program. “My time at Pepperdine was one of the best experiences in my life,” Khanna says. “The education, the opportunities and being surround- ed in a shared learning environment were invaluable. I was very fortunate to meet some great people in the program, some of whom where entrepreneurs, as well. I recall listening to the inspiring story of a fellow PKE student. It made me incredibly proud to know her and grateful to know that through entrepreneur- ship she is making a difference. Her vision for her industry and her company along with her goal to make America great again are simultaneously audacious and inspiring. She’s amazing and a great example of the lasting impact made when you align entrepreneurship with the right person.” His advice to new students and entrepreneurs is, “First, be fearless, be positive, and be brilliant. Second, find the right mentor(s) to help you. You not only are receiving their help but you are giving them the opportunity to make a differ- ence. Finally, don’t be afraid to try—the surest bet you will ever make is on yourself. William Shakespeare said it best in Measure for Measure, ‘Our doubts are traitors, and make us lose the good we oft might win by fearing to at- tempt.’” l a u n c h m a g . c o
- 12. 12 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o ENTREPRENEUR CESAR ROSAS Primavera Capital M aking a positive impact in the financial lives of Latino business owners and their families motivates executive- turned-entrepreneur César Rosas (MBA ’03) to follow his heart. Considered an industry leader in the micro-finance sector, Rosas saw a need to make financial products and services available to consumers who are un-banked and under-banked, particularly the immigrant and first-generation Latino population. In 2009, he started Primavera Capital, a specialized consult- ing and micro-finance consumer lending company in Southern California, to meet that need. “I thought I’d be a banker or an executive for a large corporation,” says Rosas. “But, working with people and understanding their challenges first-hand has afforded me an experience I will never forget.” These challenges presented themselves over the past 18 years as Rosas served clients in retail banking, micro-finance, capital raising, government and regulatory compliance and corporate finance. 12 | LAUNCH! MAGAZINE| ISSUE NO. 5 | SPRING 2012
- 13. SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 13l a u n c h m a g . c o CESAR ROSAS, MBA ‘03 COMPANY NAME: Primavera Capital COMPANY URL: http://www.prima-cap.com LOCATION: Irvine, CA PROBLEM SET OUT TO SOLVE: Latino business owners find it particularly difficult to secure funding and get necessary business guidance. BUSINESS IDEA: Improve the quality of life for the entrepre- neurial Latino lacking credit history by provid- ing functional financial services. MISSION: Provide affordable capital expeditiously to hard-working, responsible entrepreneurs and individuals who are un-banked and under- banked. TARGET CUSTOMER: Un-banked and under-banked business owner and consumer, particularly Latinos YEAR FOUNDED: 2009 AVG. ANNUAL REVENUE: Confidential NUMBER OF EMPLOYEES: Two In his role as Vice President and Senior Commercial Lending Officer for BBVA Bancomer U.S.A., he developed commercial business for the State of California. As Executive Vice President and Director of Emerging Bank Markets for Community Bank Ventures, LLC, Rosas developed new bank projects on behalf of clients in the un-banked and under-served Latino markets. He played a key role in the start-up and capital-raising for two De Novo Banks in Orange County, one of which was the first Latino-focused bank. He has also served as Consultant for DLC, Inc., a leading financial and accounting professional service firm in Costa Mesa, CA. “In all those experiences, I witnessed how the Latino business owner struggle to acquire fundamental financing options,” he explains. In 2007 he founded his first company, Toltec Financial, an innovative micro-finance company lending to the un-banked/under- served Latino segment. When he sold the company to Highland’s Premier in February 2009, he launched Primavera Capital. “I’ve been excited about the experience of becoming an entrepreneur,” says Rosas. “But positively impacting several small businesses has been even more significant to me. Most of my prior corporate jobs did not afford me the opportunity to serve these communities.” Part of what inspires Rosas on a day- to-day basis is the opportunity to meet and work with smart, dedicated people who have a good idea for a business, or who want to expand their established business . “We don’t just want to lend money to make business entities possible for our clients,” he continues. “We strive to educate our customers by encouraging smart borrowing.” Entrepreneurship has affected more than the communities Primavera Capital helps. “I have a naturally positive outlook on life, so I see more benefits than risks involved in being an entrepreneur,” he says. “Certainly one of the best personal gains for me is having more time to spend with my family.” Rosas credits his experiences at the Graziadio School of Business and Management as key to his decision to become an entrepreneur. “I really owe my success as an entrepreneur to my education at Pepperdine,” Rosas says. “I learned something from every professor, which has contributed to me being a leader today.” His advice for other Pepperdine students who are interested in entrepreneurship has become his mantra in life: “Follow your heart and never, ever give up!” SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 13l a u n c h m a g . c o
- 14. 14 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o Diane Jenkins Charms 2012 Pepperdine Business Plan Competition A fter winning Pepperdine’s Fast Pitch Competition at Entrepreneur’s Journey in January, Fully Employed MBA student Diane Jenkins’ Charm Alarm took first place in finals for the 2012 Pepperdine Business Plan Competition this spring. Business plans by full-time MBA students Monica Hwang and Rachel Siok, Mint Modernization, and law school student Isaac Agyeman, Cite Anything, were so good that judges awarded a tie for second-place to both, determin- ing to forego the traditional third-place runner-up category for the first time in the competition’s seven year history. “We were impressed with all the plans and the students’ thoroughness,” said Jason Nazar (MBA/JD ‘06), co-founder and CEO of Docstoc.com, who judged the competition alongside Soctt Alderton, founding partner of Stubbs, Alderton & Markiles; Brad Fornaciari, founder and CEO of Lighthouse Branding; George T. Hadjis, CEO of Oggi’s Pizza & Brewing Company; Scott Jarus, chairman and CEO of Ironclad Performance Wear Corp.; John Wan- der, CEO of CHNL, Inc. and David Wells, CFO of Sionix. The panel praised the students for the inventiveness of their ideas and skillful presentations.
- 15. SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 15l a u n c h m a g . c o With Charm Alarm, Diane Jenkins earned the competition’s $10,000 grand prize. Her award-winning venture offered a fashionable theft-prevention bracelet that sounds an alarm should you and your purse or wallet become separated by a few feet. The expert panel of judges agreed that Charm Alarm has a greater potential for growth than the presentation proposed. Marketer Brad Fornaciari said the business idea is bigger than jewelry and could easily translate into products addressing a variety of personal security issues. Judge Scott Alderton encouraged Jenkins to investigate how she might add a recurring revenue component to her plan. With Cite Anything, Isaac Agyeman placed second in January’s Fast Pitch Competition. He again presented a business plan for a software product that would allow customers to cite any source in a document accurately and automati- cally—perfect for lawyers writing a brief or students crafting research papers. Monica Hwang and Rachel Siok pitched Mint Modernization, a business plan that markets a line of “animal kingdom” scooping wands for getting at the remains in bottles such as lo- tions and other packaged goods. Cite Anything and Mint Modernization were each awarded $3,750, the remaining cash purse. The competition’s Socially Minded Entrepreneur Award was given to the team of Jason Locklin and Jason Orbison, students in the MBAJ and BSM programs respectively. Out of the 33 business plans that entered the competition, the pair’s venture Imcompli was singled out by the Graziadio School’s Values- Centered Leadership Lab, a student-run organization dedicated to furthering corporate social responsibility and ethics in business. Incompli is a storm water and erosion control company whose proprietary software dramatically reduces the carbon footprint and costs of environmental compliance for contrac- tors, builders, engineers, and municipalities. The Socially Minded Entrepreneur Award includes a $1,000 cash prize. The students each received additional gifts from sponsors Gaiam and Dun & Bradstreet Credibility Corp. The Pepperdine Business Plan Competition is held annually by the Graziadio School of Busi- ness and Management and The Palmer Center for Entrepreneurship and The Law at the School of Law. Dun & Bradstreet Credibility Corp., Gaiam, MyCorporation and Burton Morgan Foundation graciously contributed sponsorship. ISAAC AGYEMAN RACHEL SIOK AND MONICA HWANG
- 16. 16 | LAUNCH! MAGAZINE| ISSUE NO. 6 | SUMMER 2012 l a u n c h m a g . c o THE SHORT LIST American Love Affair AmericanLoveAffairOnline.com Denim and fashion apparel Noelle Nguyen, PKE MBA ’12 Anedot anedot.com Optimizing the way we give Paul Dietzel, MBA/MPP ’11 Aquatics Now www.aquaticsnow.net/ Swm school for your child Nicholas Stankevich, MBA ‘13 Artful Gentleman www.artfulgentleman.com Men’s fashion done better Jake Wall, MBA ‘08 Behind the Brand behindthebrand.tv Expert insight to grow your business Bryan Elliott, MBA ‘99 Beyond the Olive www.beyondtheolive.com Premium retail olive oil products Crystal and Chip Reibel, MBA ‘09 Bizible bizible.com/Small-Business- Marketing-SEO SaaS marketing for local businesses Aaron Bird, MBA Blindbid www.blindbid.com Bid for leads instead of share them Michael O’Hare, MBA ‘09 BlogcastFM.com Proven social media advice Srinivas Rao, MBA 09 Business Simply Put www.businesssimplyput.com Strategy and financial management Lori Williams, MBA ‘05 Capchure LLC www.capchuresystems.com Advertising Network for Tech Bloggers Aaron Moskowitz, MBA ‘07 EndPlay endplay.com Web content management solutions Christos M. Cotsakos, MBA ‘83 DeJant Group Corp. www.dejant.com Natural aphrodisiac drink Omid Semino, MBA Derivatas www.derivatas.com Business valuation software Dat Do, MBA ’11 and Geoffroy Dubuisson, MBA ’11 DermaShoppe www.dermashoppe.com High-end, physician-dispensed skin care products Jimmy Nguyen, MBA ‘09 and Patrick Leroy, MBA ‘09 DevDugal.com Business strategy advisor; The Redwood Bar & Thirsty Pockets founder Dev Dugal, MBA ‘04 Docstoc.com Online document warehouse Jason Nazar, M.B.A ’05, J.D. ‘06 FCearth www.fcearth.com Eco-friendly, culturally informative soccer gear and apparel Jeff Rozic, MBA ‘06 Global4PL www.global-4pl.com Supply chain solutions Sergio Retamal, MS ‘04 Global Wave globalwavegroup.com Financial technology company Zubin P. Mehta, MBA ‘06 identifiDesign identifidesign.com Taking brand communica- tions to the next level Nick Norris, MBA ‘09 Jobonomics.com Empowering job seekers Sameer Gupta, MBA ‘09 Jungo LLC jungotoys.com Flickerz - Flickable flying toy discs Michael Cheshire, MBA ‘11 Krav Maga Worldwide, Inc. kravmag-kids.com Youth self defense Matt Romond, MBA ‘12 Kensel & Co www.kenselandco.com Middle market investment services Brendon Kensel, MBA ‘00 Layla Singer/Songwriter/Fashionista; a music phenomenon Darlene Kiloglu, MBA ‘11 LearnItByEar.com MP3 audio course-oriented flashcards Brett Fisher, MBA ‘11 and Stephen Yeoh, MBA ‘11 Linked Orange County Networking and business con- nections Bryan Elliott, MBA ‘99 Locaxion www.airvuegolf.com GPS-enabled smart phone apps for golfers Pratish Shah, EMBA ‘10 Lolay, Inc. www.lolay.com Location-based mobile apps Bardia Dejban, MBA ‘10 LSR Lifestyle www.lsrlifestyle.com Wholesale cigar company Jordan Rockwell, MBA ‘10 Markex Global www.markexglobal.com Strategetic international trade Kasra Ferasat, MBA ‘10 MindFire Inc. www.mindfireinc.com Personalized cross-media marketing solutions David Rosendahl, BSM, ’05 Personal Care Physicians www.mypersonalcarephysi- can.com Troy Medley, MBA ‘03 Quantumsphere www.qsinano.com Nano catalysts and integrated catalytic solutions Kevin Maloney, MBA ‘02 SG Biofuels, Inc. www.sgbiofuel.com Jatropha as a low cost, sustainably produced oil Kirk Haney, MBA ‘95 Shadys www.shadys.com Custom branded canvas golf cart coverings Jaime E. Parker, MBA ’99 Shark Bite Scuba www.sharkbitescuba.com Maker of award-winning The Tank Dolly® Kimberly Isaac, MBA ‘10 SkoolofLife.com Personal Development Srinivas Rao, MBA 09 Smile Brands Inc. www.smilebrands.com Support services to general and multi-specialty dental groups Steve Bilt, PKE MBA ’01 Sohve www.solve.com Strategic consulting Nick Mitchell, EMBA ‘07 Superhero Enterprises www.superheroenterprises.com Character-based publishing and merchandising Davien L. Watkins, BSM ‘08 SwitchStream, LLC www.switchstream.com Management advisory services and venture investing Kyle C. Murphy, MBA ‘05 TrustyMax www.go2socket.com Maker of go2socket – grips bolts other sockets cannot Tim Kim, MBA ‘10 Vedanic www.vedanic.com Premium organic & natural skincare Varun Khanna, MBA ’12 Webventurous.com End-to-end web solutions Dhaval Doshi, MBA ‘09 BUY GRAZIADIO AND SUPPORT ENTREPRENEURS
- 17. SUMMER 2012 | ISSUE NO. 6 | LAUNCH! MAGAZINE | 17l a u n c h m a g . c o SUSUMMMMERER 22010122 || ISISSUSUEE NONO.. 66 || LALAUNUNCHCH!! MAMAGAGAZIZINENE || 1717l al a u nu n c hc h m am a g .g . c oc o SPOTLIGHT Incompli, Inc http://www.incompli.com FOUNDER Jason Locklin, Joint BSM/MBA 2012 FOUNDED 2012 COMPANY ADDRESS 23034 Lake Forest Drive. Suite B Laguna Hills, CA 92653 United States INDUSTRY TYPE Consulting Services NUMBER OF EMPLOYEES Six AVERAGE ANNUAL REVENUE Confidental PROBLEM SET OUT TO SOLVE Massive amounts of resources are used up trying to comply with strict environmental regulations. Laws are confusing and difficult to manage. Companies are spending and being fined billions of dollars as a result of these regulations. BUSINESS IDEA/SOLUTION Use technology and innovation to provide efficient solutions to the problem of complying with environ- mental regulations. With our solutions, companies can save time, money, and still maintain maximum compliance to protect the environment. COMPANY MISSION Simplifying Environmental Compliance TARGET MARKET Construction Firms, Municipalities, Large Gas Exploration Companies, Large Retailers, and any other business that must manage the burden of environmental compliance. Incompli is in the process of developing ground breaking cloud based software that will save the construction industry massive amounts of man-power while increasing their compliance.
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