Recap: Managing Risk and Strategic Growth
Last week, nearly 100 guests attended Managing Risk and Strategic Growth, an event hosted by Upstate Capital and The Center for Economic Growth, on Thursday April 26, 2018. Startups and growth-oriented companies attended the event to explore best practices and lessons learned in managing risk through startup, launch and scaling for established companies.
“Hope is not a strategy” according to Jim Lozano of CFO for Hire, as he set the tone for company executives, business leaders and entrepreneurs who gathered to discuss a variety of topics including, “Recruiting and Managing a Great Team”, “Growth after $1M”, “Insuring Success” and “The Investor Perspective” at WMHT Studio, a television station in the Capital District.
Panelists discussed how venture funds mitigate risks. Karthik Bala, from Velan Ventures spoke about the significance of “having a close relationship with the entrepreneurs”. Karthik added that the quality of your relationship with these individuals really means a lot in the long run. Todd Tidgewell from Nixon Peabody talked about why syndication is a great way for investors to mitigate risks.
Building a Great TeamMiriam Dushane of Linium Staffing talked about the importance of deciding on a process and being consistent with who you hire once you build a team. Paul Gilkerson from Hobbs & Towne said, “It’s always important for employers to be opportunistic when hiring. It’s very helpful to work with a recruiter who is familiar with the market.”
Growth after $1M
Mike Stamas from GreyCastle explained how significant it is for leaders to understand the difference between sales, revenues and other financial information necessary to grow. April Urlich from KeyBank added “It takes a lot of time to raise equity and it is pertinent to keep clean financials, diversify your client base and know your strategic plan.”
The Four Must-HavesA key message came from Eric Leander, a corporate and securities law attorney at Wagoner Law Firm.“The four must-have experts on your team include an attorney, an accountant, an insurance advisor and an HR consultant.”
The keynote presentation was given by Roselle Safran, President of the Rosint Labs and Entrepreneur-In-Residence with Lytical Ventures in Brooklyn, NY. Roselle was previously the Cybersecurity Operations Branch Chief at the Executive Office of the President where she managed the 24x7 security operations center that protected and defended the White House’s network.
Photography for the event was provided by Laura Kozlowski Photography. Photos can be accessed and viewed here.
Thank you to our Gold Sponsors, Nixon Peabody, KeyBank, Genius NY, NY Ventures, NYSERDA, and The Bonadio Group. We also want to thank our event sponsors and partners, Marshall & Sterling Insurance, Rensselaer County Chamber of Commerce, EVE, EFPR Group, and SCPP. Thanks to everyone who attended and for being a part of the success of this event that brought together business leaders and entrepreneurs in Upstate New York.
A special congratulations to Willie Crowder, Founder and CEO of MyBackStory. Willie won the charity drawing, and a $100 donation was made to the charity of his choice: The Autism Society of the Greater Capital Region, a not-for profit organization that serves people living with Autism in the Greater Capital District and their families.