For Jeff Green, his online ad exchange company The Trade Desk is the culmination of a career spent trying to make media buying more efficient. Green started his Internet work experience while in college working for Microsoft to supply technical support — but soon was focused on with his vision of improving transparency and efficiency in online advertising.
In 2004, when everyone else in the online advertising industry doubted ad exchanges, Green founded AdECN, the first exchange for online advertising. He has since been constantly trying to improve processes to make them more efficient.
As the founder and CEO of The Trade Desk, and with his background in the industry and analytical ability, he brings his vision to reality — he can delve into what he describes as the “intricacies of online marketing” and successfully capitalize such a business opportunity.
He knows his vision and can sell it as a product to his customers and colleagues. In leading his team, Green knows the delicate balance between pushing his teammates for the best results and not micromanaging.
The Trade Desk has grown rapidly, including expanding from about 20 employees to the current number of 50 in one year. Not only is Green successful at obtaining more talented employees as his business grows, but he retains those already on board. Since the start of the company in 2009, only five people have left. More than 75 percent of employees acknowledge that working at The Trade Desk is the best job they have ever had.
Green is not only entrepreneurial; he is also community-minded and charitable. When his son’s private school had no other choice but to cut the school year short because of insufficient funds, Green volunteered to help solve the problem by using his online ad exchange platform to raise money. The school raised enough funds so it did not have to cut education time short.
How to reach: The Trade Desk, www.thetradedesk.com
A volunteer with the Sierra Madre Search and Rescue team who has contributed to the rescue of more than 90 lost or injured hikers, CEO Tim Cadogan finds the same joy in performing missions for OpenX.
The company first began in 1998 as an open source project in Europe, where its digital and mobile advertising technology became widely adopted. While it was a good basic product, there was no business model.
Coming on board as CEO in 2008, Cadogan had to start from scratch as the first U.S. employee, incorporating the company and defining a vision and strategy for a new kind of advertising technology platform business.
OpenX’s seeks to unleash the full economic potential of digital media companies. Its solutions provide a unique software as a service platform by combining ad serving, an ad exchange, a supply side platform and content valuation.
Cadogan began with building a high quality team with the right skills to deliver on a vision to create a comprehensive display-ad platform for publishers, an alternative to industry titans Google, Yahoo! and Microsoft.
This mission has remained constant, and OpenX now employs 282 people. The company has seen sustained profitability since the fourth quarter of 2011 and now powers a solution for thousands of customers globally.
At the heart of Cadogan’s approach is actionable innovation. OpenX was one of the pioneers of Real-Time Bidding in the digital ad exchange space, which continues to account for the largest and fastest growing portion of the company’s revenue. Additionally, its Open-SaaS ad server is, via its innovative application program interface design, a platform that allows its partners to innovate to match their own requirements.
In the past 12 months OpenX has created two industry firsts — the first ad serving solution to acquire and fully-integrate a supply-side platform, LiftDNA, and the first company in the ad technology space to add a content valuation solution, JumpTime.
Future plans include core innovation, scale, global expansion and multi-screen.
How to reach: OpenX, www.openx.com
When Jeff Stibel founded Dun & Bradstreet Credibility Corp., he wanted to assist businesses in establishing their reputation as credible enterprises.
Formerly the president and CEO of Web.com, Stibel saw there was a significant need for small businesses around “credibility.” He and his team founded a company around this need. Determined that it was critical to have a brand name in credibility, Stibel acquired the rights to certain assets from Dun & Bradstreet in 2010.
The business he acquired had a declining revenue base, but Stibel wanted the storied brand, ability to use the name and the ability to tap the data. He quickly shut down the existing business and reformed it to provide credibility analysis for businesses throughout the U.S. and Canada.
If you look at employment growth alone, you would conclude that he’s been a success. Starting with just eight employees, the company has now grown to more than 600 employees.
But that is not the only impressive attribute. Stibel has become well-known for his “failure wall” where employees write about their business mistakes and miscues. He believes that every failure is an opportunity to learn and grow. The principals of positive failure have even been incorporated into the company’s performance evaluations — employees are graded on failures and calculated risk-taking.
Stibel believes in the importance of creating an outstanding workplace environment for his team to thrive. In appreciation of his staff, he began an innovative education savings plan, which allows his employees to set aside a wage-deferred contribution that is company-matched. He then triple matches it by donating directly to the school district.
Additionally, Stibel rewards high-performing employees each year with an all-expense paid vacation. Not surprisingly, his company has a low turnover rate. In just three years, the company has grown into a business that is experiencing significant growth, and became profitable in 2012.
How to reach: Dun & Bradstreet Credibility Co., www.dandb.com
Rick Stollmeyer would not have been the only person to put a potentially life-altering business deal on hold in the fall of 2001.
The fact that this deal involved expanding his business to New York City, which was still grasping to find some sense of normalcy in the wake of the 9/11 terrorist attacks, only gave Stollmeyer more justification to hold off.
But as soon as the airports opened again, Stollmeyer dismissed the fears that many felt about flying so soon after the attacks and headed to New York to finish the deal for Mindbody, Inc. The client could not believe that Stollmeyer had made the trip, but ultimately signed off on the deal because he had made the trip. It got even better when Stollmeyer realized that a woman he had met on this leap-of-faith trip would eventually become the woman he would marry.
A strong work ethic, commitment to getting the job done, and the ability to remain focused and tune out distractions are traits that Stollmeyer took from his experience in the U.S. Navy. They each helped him build Mindbody into the largest cloud-based software provider in the health, wellness and beauty industries.
The business is run on a foundation of Stollmeyer’s personal leadership traits. One of his greatest successes is actually his inability to integrate into the typical corporate environment. He tried the more corporate approach but after witnessing the lack of compassion, drive and deeper meaning that came with it, he decided to unleash his own entrepreneurial spirit and hasn’t looked back since.
Stollmeyer expects a lot from his employees and values competence and character in every person who works for him. Compassion is the third of the three Cs that are important to him. He wants employees to care about their colleagues as much as they do themselves. The result is a vibrant and productive work environment, and a company that continues to grow.
How to reach: Mindbody, Inc., www.mindbodyonline.com
Mel Elias had a lot of worldly experience when he first got involved with The Coffee Bean & Tea Leaf. He had completed his military service in Singapore, graduated from the London School of Economics and practiced law in Singapore, before opening and operating a The Coffee Bean & Tea Leaf franchise in his native Malaysia.
He saw a lot of potential in the coffee retail chain and helped organize a buyout from the founding owners. Elias then moved to Los Angeles and helped transform The Coffee Bean & Tea Leaf from a family-run business to a structured enterprise.
When he became president and CEO in 2008, he battled through intense competition and limited external financing to extend the company’s brand across the U.S. and around the world in multiple channels and formats.
One thing that makes the company unique is the fact that it buys directly from coffee farms and tea estates, thus knowing where every bean and leaf comes from. Elias buys only the top 1 percent grade available in the world, ensuring quality in every cup.
He also was able to see the growth of at-home coffee consumption and develop the company’s own single-serve beverage system. The Coffee Bean & Tea Leaf conceived, created and implemented its own system in 10 months, including national distribution in more than 4,000 locations as well as a 10-country launch.
The innovation was achieved through third-party strategic alliances and employee engagement initiatives. It did not include any additional shareholder investments.
Through all the success that The Coffee Bean & Tea Leaf has had, the company also has been able to make a big difference in philanthropic causes. Elias wants employees to understand that they have a higher purpose than just making a profit; their goal should be to have a successful company that uses its success to make a positive difference in the world.
How to reach: The Coffee Bean & Tea Leaf, www.coffeebean.com
How Clarence Daniels Jr. brings well-known restaurant brands to airports through Concession Management ServicesWritten by SBN Staff
Smaller is better, according to Concession Management Services, Inc. Chairman and CEO Clarence Daniels Jr. It was because of CMS’ smaller size that brands such as Coffee Bean & Tea Leaf allowed Daniels to operate one of its stores at the Los Angeles International Airport.
Founded in 1992, CMS is an airport concession company that operates restaurants such as Panda Express, Coffee Bean, Carl’s Jr. and Cinnabon in airports in Los Angeles, Dallas-Fort Worth, San Diego, Las Vegas, Atlanta, Philadelphia, Washington, D.C., Houston and Tampa Bay.
Daniels admits that operating in airports is extremely difficult. There are many stakeholders who feel they own the airport concessions, such as the airport commissioner, airport staff and the airline station manager. There are also numerous regulations that govern everything from security to employee pay to the design of the store. These are all obstacles that Daniels constantly works to overcome.
CMS concessions such as Panda Express, Coffee Bean, Carl’s Jr. and Cinnabon are among the highest grossing restaurants in the country. Daniels attributes his success in customer service to being hungrier than the competition. His managers volunteer to open the restaurants earlier than the competition, or even open the stores 24 hours a day.
The company uses its knowledge of the industry to become a sought-after partner for national, regional and local restaurant brands that want to gain entry to the airport concessions industry. Because malls and neighborhoods are saturated with restaurants, airport real estate is highly sought after. However, most restaurant owners don’t want to invest the time to learn how to gain this entry, nor do they have the experience working with organized labor.
CMS has capitalized on these issues and developed an approach to licensing where the company pays restaurant owners attractive licensing fees to allow it to own and operate their concepts in airports. This approach has enabled CMS to bring numerous restaurant brands to airports around the country.
How to reach: Concession Management Services, Inc., www.cmsairports.com
How Jessica Firestone’s experience in secondary telecom equipment is growing Tempest Telecom SolutionsWritten by SBN Staff
Jessica Firestone founded Tempest Telecom Solutions, LLC in July 2005 because she felt a woman-owned business in the telecom network equipment sector could be successful given the growing attention to diversity at the leading Tier 1 operators. She also had a strong interest in reuniting a specific team of individuals who had all successfully worked together.
Tempest is a leading provider of telecom infrastructure equipment and related services, helping service providers and network operators build, expand and maintain their networks faster and more cost-effectively.
Firestone has extensive sales experience in the secondary equipment market. Her career evolved quickly in sales and sales leadership positions because of her energy and intuitive understanding of her customers. Tempest meets the need for cutting-edge technology support as well as repairing and supporting hardware that is no longer under manufacturer warranty.
An example is the current 2G/3G/4G cell phone trends, in which Tempest is involved in decommissioning 2G infrastructure, repairing and maintaining 3G infrastructure as it ages out of manufacturer’s warranty, and installing and expanding 4G networks nationwide, with a thorough understanding of various local and state security and emergency services response regulations.
Tempest’s positioning within the current 4G-conversion trend is unique, as the company is able to leverage experiences gained with larger nationwide and international cell carriers and translate those solutions into smaller-scale answers for its regional clients. Because of this positioning, Tempest is also able to anticipate the direction of the industry.
Within the repair and maintenance aspect of the business, the company strives to create replacement parts that meet or exceed the original equipment manufacturer component. Replacement parts are shipped with all cables and components in place, ready to use.
Tempest’s creativity and innovative nature helps to differentiate the company. Known for being flexible, customer centric, and always willing to go beyond normal obstacles to dig deeper and solve customer challenges, the company is poised for further success.
How to reach: Tempest Telecom Solutions, LLC, www.tempesttelecom.com
At age 32, James “Jamey” B. Edwards took a huge risk by giving up a highly lucrative career at Lehman Brothers as an investment banker to become the CEO of Emergent Medical Associates; he was a businessman with no medical background or experience with the health care industry.
That meant he had a huge learning curve and had a lot to prove to the physicians as well as the executives of the company. But he met the challenges head-on, implemented various programs and increased revenue by more than 268 percent since his 2006 arrival. With results like that, Edwards earned the respect and trust of the company and the physicians.
One of the key factors he believes is necessary to grow a business is to create a culture of which everyone wanted to be a part. Edwards worked hard to establish a reputation for EMA to be the fastest growing company of its kind, providing high-quality care, and being employer of choice for providers and group of choice for hospitals.
Edwards believes in assembling the right team with the right people and empowering them to make the right decisions. With a lot of emphasis and resources being placed on training, these result in corporate employees who may better assist the physicians who then are trained so they may better attend to their patients. If physicians and patients are happy, it leads to the success of the business.
Two leadership groups are involved in managing EMA: physician leadership and executive leadership. The two groups may have different goals and visions for the company at times, but Edwards has created a “Senior Counsel” to help establish a partnership between the providers and operations teams.
Since Edwards joined EMA, the company has grown its number of physicians from 60 to 329. The company plans to continue to grow by acquiring sites located in Salt Lake City, Phoenix and Las Vegas, and by organic growth.
How to reach: Emergent Medical Associates, www.ema.us
A North Carolina native, Janice Bryant Howroyd left her hometown in 1976 and got a temp job in California, which introduced her to the need for job placement services. Then her entrepreneurial spirit flared up. She launched Act 1 Personnel Services in 1978 and has since dedicated her efforts to building an organization committed to keeping the humanity in human resources.
Howroyd is an advocate for balanced education and entrepreneurship in the workforce. Her active industry involvement gives her an understanding of the challenges faced by global workers and business owners alike.
In addition, her expertise on workforce optimization and entrepreneurship has made her a much sought-after speaker. She is also the author of “The Art of Work: How to Make Work, Work for You!” in which she distills more than 30 years of experience into a work/life balance guide.
As the founder, chairman and CEO of one of the country’s largest workforce management firms, Howroyd provides customers scalable advantages to excel through advanced technology and other service offerings.
Her passion for establishing lifetime relationships with job seekers, client companies and professionals within the human capital industry has enabled her to turn a successful domestic business into a world-class global enterprise.
Today, The Act 1 Group, Inc. is a reflection of her vision. Through her commitment to market-leading innovation and identification of market needs, Howroyd is able to expand her business, remain as the chief decision-maker of a workforce management firm and to match job seekers with companies where there is opportunity.
During the recent economic downturn, companies generally were not hiring as many people as they had been, but Howroyd was able to help her business customers increase their efficiency by using the most proficient human resource strategies possible. By continuing to inspire employees to excel in a business model that is agile and forward thinking, she will keep the Act 1 Group growing financially despite future market challenges.
How to reach: The Act 1 Group, Inc., www.act1group.com
An additional insured endorsement is an amendment to the named insured’s policy, usually the general liability policy, that extends coverage under the terms of the policy to another entity.
“This is usually required in a contract where company A needs to provide insurance coverage to company B, so company B enjoys protection from a new risk that arises out of company A’s conduct or operations,” says Shantih M. Charlton, CIC, CISR, senior account executive at Momentous Insurance Brokerage, Inc.
Smart Business spoke with Charlton about why you need additional insured endorsements from the companies you work with, and why you may need to provide them.
What are some examples of when an additional insured endorsement is needed?
A building owner/landlord may require a tenant to name the owner/landlord as an additional insured on the tenant’s insurance policies. If there is an accident or loss on the rented premises, such as a slip, trip or fall, the tenant’s insurance coverage can respond to the claim.
Another example would be a general contractor requiring subcontractors to name it and the owner as additional insureds on the subcontractor’s policies. Then, the subcontractor’s insurance protects the general contractor and owner if someone sues based on an accident arising from the work of the subcontractor.
Also, product manufacturers may cover its sellers as additional insureds. In these cases, the retailers are better protected from claims arising from products they sell.
How is additional insured status provided?
A certificate and endorsement are both required to provide additional insured status. The carrier needs to issue the endorsement, which is part of the policy. If you receive a certificate stating that additional insured status applies but there is no endorsement attached, request a copy of the actual endorsement or policy wording.
What is the cost to add this endorsement?
It might already be included in the policy premium, or it could cost $100 to $500 extra. The cost of adding an additional insured to a liability insurance policy is generally low, as compared to the costs of the original premium.
If you get a certificate from someone with the additional insured endorsement, do you still need your own insurance?
Yes. Additional insured status doesn’t mean you don’t need insurance. It only means the company receiving the additional insured status has insurance for the other company’s negligence. So if company A is an additional insured on company B’s policy, it is covered if company B’s negligence causes a claim and company A is named in a resulting lawsuit. If that same claim was actually due to company A’s negligence, or if company B’s insurance limits were not adequate, company A would need its own policy to protect its interests.
Is an additional insured endorsement the same thing as a named insured?
No. A named insured is the person designated in the policy as the insured. Additional insured status does not give the same rights under the policy terms as a ‘named insured’ or ‘insured.’
What should you keep in mind when entering into an agreement with another business?
Whenever your business enters into an agreement with another business, follow these general principals:
• Never assume the other business has liability coverage. Obtain a certificate of insurance or copy of their policy.
• Review both the contract and endorsement with legal and insurance representatives. Each situation presents unique risks, and contract wording and policy forms can vary greatly.
• Understand what your additional insured coverage status covers. Consult with your insurance adviser to better understand how this affects your business.
Shantih M. Charlton, CIC, CISR, is a senior account executive at Momentous Insurance Brokerage, Inc. Reach her at (818) 933-9860 or email@example.com.
Blog: Get more information on this and other important insurance topics at the Momentous Insurance blog.
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