Walker Center for Global Entrepreneurship Blog

Mr. Scott Walker, the Thunderbird Alumni and one of the founders of the Walker Center at Thunderbird had invited us to his Winery at Napa valley. It was a beautiful ride and very scenic. At the vinery we were hustled into a cave, where in the midst of barrels of wine, we had our meeting table set-up.

Mr. Walker, is one of the amazing personality I have met in my life. After Thunderbird in 1981, he focused mainly in finance and worked with GE Capital and Lloyds bank. After 1991, he did suffer a setback in his life where in he was forced to change his career paths. Also he had to handle some personal emotional moments. After a suffering, he had decided that he will not give up, he will never compromise on anything and if he survives his bad patch, he will give back to the society.

Later, he went on to become financial consultant for many companies, one of the major one being Telepay, in which he entirely restructured the department and made it profitable. He has been partnering with his good friend, Mr. William. Here is another lesson we learnt. Till date, he and Bill (as he calls him), had several disagreements but was only for constructive purposes and there has been no thought of mistrust. BillMatrix the company which was formed as a result, is one of the most successful companies in the recent times.

In the recent times Mr. Walker also has been involving himself in aviation fuel industry. He told us a very interesting comment when it came to international business he is doing in China. It seems he was teaching some of his Chinese counterparts on how to drink wine. He says “Teach me how to drink tea and I will teach you how to drink wine”. I see a very profound meaning in this statement. This is a very statement that global businessmen should have in sharing the knowledge across borders.

After a sumptuous lunch, we were hosted by Mr. Walker for wine tasting. He is very passionate about wine industry; he was the founder of the Wine Club at Thunderbird. I was very happy that we ended the winterim on a high note.

I thank my friends in the winterim who have helped me during travel and stay. Also on behalf of all the students, I thank Prof. Stralser, for conducting this winterim which has been a fun-filled trip across California and a very valuable one in my Thunderbird experience.

Ramkumar Ganesan (1460530)

MBA Candidate, 2013

Innovation centers have always sounded the most attractive place to work at. A few places are there where you get appreciation for your creativity. Ideo center is one such place. Located in a very beautiful location in San Jose, the ambience of the place will speak for itself and the work it does. We were hosted by a couple of the Ideo employees, who took as for tour of the whole center. Ideo has two operations. Ideo as a profit oriented company and Ideo.org as a non-profit organization.

The whole center was filled by the examples of creativity and ideas that has been generated in the past years, such as a very simple electric bike, innovative trolley carts and toys. We also saw the different stages of the Palmtop and the Microsoft Mouse.

The business of Ideo mainly comes from clients wanting some new solutions for their processes. So a team is selected within the Ideo. The employees will be of who are interested in the project. They come up with a solution which matches the client requirements. Ideo.org usually deals with social works and projects for the society. It is a dream job to work in companies like this where your inspirations, innovations, ideas can be implemented.

Ramkumar Ganesan (1460530)

MBA Candidate, 2013

On the 3^rd day at San Francisco, the hub of Silicon Valley, we met at a very unique place, the University club of San Francisco. We were meeting Mr. Paul Rosenfeld and Tracy Grover, founders of Fanminder. The clients of the company are mainly the small business ventures, who would like to market their products and services through modern tools, such as texting, social networking sites and email. These companies will not be having the expertise to do marketing.

Mr. Paul was involved in many startups in his early life, which ended up in being labeled as failures. Although his business plans and marketing skills were par excellence the environment was not conducive enough to establish the companies. Ms. Tracy also was involved in 5 entrepreneurial ventures, with the sixth on the way. Finally they ended up in establishing Fanminder.

They acknowledge the fact that they have complementary skills which is quite useful in running the company. Mr. Paul deals with finance and marketing, while Ms. Tracy takes care of technology administration.  They went to mention about how important choosing your investor is. Also it is highly imperative that the team we choose for the company should be of high quality. You cannot fill the position just for the sake of it. The candidate should have adequate knowledge about the product.

To the young aspiring entrepreneurs, his statements were very inspiring. He said, you should have the guts to go ahead and start you company. Every success entrepreneur has left his cushy corporate job to start of his venture. Yes, although faced with initial failures, most of them have struck gold. Never be intimidated by initial failures and pressure. But we should go ahead and establish ourselves.

Ramkumar Ganesan (1460530)

MBA Candidate, 2013

Recycling and Processing industries is just what the world needs. It not just helps in maintaining the environment process, but the products obtained from it help in cutting down budgets of big industries as well. We met with Mr. Farook Afsari, a Thunderbird alumnus, CEO of eCullet. The company mainly deals with reprocessing of glass and selling it to the manufacturing centers.

Mr. Farook explained the various functions in the process. The company associates with management companies in collecting broken glass. They have a patented technology for separating out the broken glass pieces according to color. They then reprocess it and sell it to the industries which require it. The company has made profit. Also the clients who buy this glass, say this is far more profitable than the glass they have to buy from others.

Having a technical background in his early days, Mr. Farook says managing the technology and the company has been easy. But, he also says that as an entrepreneur, looking for investors and venture capitalists, he faced a lot of problems, such as interference in daily activities and control of the company held by someone who many not be the best person to do the job.

He also mentioned about how as entrepreneurs we should look out for the correct investors and how they can collaborate in the business venture and make the company a successful one.

Ramkumar Ganesan (1460530)

MBA Candidate, 2013

We headed to TechShop in downtown SanFrancisco.  Techshop was started as a unique platform for individual to come and design their prototypes which will be useful for their ventures. Anyone can join this techshop and use their training, tools and machineries to design their new ideas and gadgets. Techshop houses some very expensive machinery and also they provide assistance in designing and operating the tools.

This is very useful for individuals who have an idea and would like to experiment. There are some interesting projects that have taken place in this TechShop, such as DODOcase for iPAD.  We had a complete tour of the whole TechShop. The place is planned properly and well-managed. Some of the functions of the tools were interesting. Also we could now imagine how different gadgets are made. They also have a small designing center for textile.

On questions being asked about the profitability of the venture, they replied in the affirmative and also they are looking forward to implement some new plans. Hopefully they will continue to do its good work and be a platform for many innovative projects.

Ramkumar Ganesan (1460530)

MBA Candidate. 2013

We headed to ReelFx studios, which specializes in production and post-production special effects in movies (including animation). We were first given a tour of the studio and its infrastructure by Mr. Chuck and then they screened some of their special effects work (in 3-d) they have done in their movies and also some clippings of their new production. The whole experience was amazing.

ReelFX was started by Chuck Peil and his friends. Mr. Chuck was on the creative edge. He liked designing and making ideas. Thus with some technical experts in gadgets and software, they were able to start of this venture. They have partnered with many huge production houses in making well known movies.

On being asked about their struggles before this success, Mr. Chuck and Ms. Amy was humble enough to tell that they did not have the clientele initially to boast, and also talked about how many other production houses were trying to take over them and how they refused to give in to the pressure. But today after their good work shown on screen, movie makers are constantly working with them to incorporate special effects.

We were also given insight about the whole movie business and how it works. On their expansion plans, they mentioned they have another studio at Texas. Also they are partnering with some movie makers from other countries as well.

Ramkumar Ganesan ( 1460530 )

MBA Candidate, 2013

We were meeting at the Milken institute with Mr. Ross DeVol and Mr. Paul H. Irving, who head the operations in research and marketing respectively. They gave us an overview of their functions. Milken Institute was started as a mission to establish research activities, in improving the world we live, which could not be conducted by the individual himself. The organization has a unique group of economists, scientists, fellow research scholars and students who have contributed in conducting many research projects in avenues like Science, Economics and Bio-Medical.

The speakers informed as about the lack of assistance offered to research students (both domestic and international) and how they wish there were subtle changes in the system. They encourage students to continue with research by partnering with the universities and try to fund these projects. They have a team to analyze and support these projects. Their main focus right now is in the Bio-Medical research.

We also had a chance to meet with Mr. Milken, who is regarded as a bright financial expert. He talked about the Big American dream and how many students are not able to live it. He also talked about the globalization and how Milken Institute is partnering with some research institutes across the world and also how it is in collaboration in working with some corporate.

Ramkumar Ganesan ( 1460530 )

MBA Candiate, 2013

Pink’s Hot Dogs, one of the landmarks in Hollywood, and one  of the oldest Hot Dog centers, still has the unique ambience which many other fast food restaurants seems to have lost. We had a chance to meet Mr. Richard Pink and his wife Ms. Gloria Pink at their restaurant in Los Angeles a couple of days before. They hosted a wonderful dinner for us. And they even had a special hot dog for Thunderbird. I first thank them for that amazing evening we had at Pink’s.

Talking to Mr. Pink was perhaps one of the best opportunities to know about a person, who is so successful in his business and still has been a very honest person with his opinions and principles. Pink’s hotdogs was started in 1939 by his parents. It was a small place to begin with, but slowly caught up to the attraction of the clients in Los Angeles and also with some major celebrities of Hollywood.

Mr. Richard Pink himself was initially involved in real estate business. But when he was selected to succeed his father in running the business, (apparently at Pink’s the family decides who will succeed the administrative responsibilities.) he brought some innovative ideas along with him, but did not harm the continuum. They still maintained the signature snap in their Hotdogs, and Mr. Richard himself added new varieties in the menu. The ambience has not changed much, and customers still wait in the line for hours to get the hotdog. The service by the employees has been very good, which has effected in customer satisfaction. The compassion that they have shown on their employees has been amazing. Both Mr. Ricahard Pink and Ms. Gloria Pink know the employees very well. The staffs get weekly bonuses, something unheard of in other places. They also get to retain the income made by recycling. Mr. Pink says this is an incentive to keep the place clean.

On being asked about expansion, Mr. Pink mentions although they have franchises opened up in some locations, they have not ventured into setting up branches, as they feel they will lose the uniqueness. He was still being skeptical and conservative when it came to establish Pink’s as a chain of restaurants. The pricing of this unique Hotdogs is also affordable. They have not brought much change in the prices and they have added some unique confectionaries to go along with the hot dogs. Mr. Pink also gives high credit to his wife, Ms. Gloria Pink for the cause of branding. She has worked hard and done some good travelling to make this brand so popular in Los Angeles and amongst the Hollywood celebrities.

We Tbirds wish them the best of luck in their in their business and it will remain as unique as it is. It was great to know about Mr. Pink and to learn the way a restaurant is to be run.

Ramkumar Ganesan (1460530)

MBA Candidate, 2013

Ms. Kimberly Fowler of Yoga and Spinning is an example of how successful women entrepreneurs have been in starting their own venture, leaving behind a successful career. Ms. Kimberly, was a COO  and a lawyer and was quite contended with her profession. Due to mishap, she had to be in rest for 6 months after which she recuperated. It was at that point that she decided to do something she was attracted to- Yoga. Although there was not much encouragement given to her by her family and friends, she and her friend had planned and started the center. It was really surprising that the place she chose to start was not a great location. She admits that they wanted a place within the budget. But, they renovated the center, and by sheer branding, marketing and hard-work, they managed to reach out to customers. She recalled her marketing techniques when she used to have fliers at car parking lots in the neighborhood.

Also the unique style of Yoga she is offering was also a part of the strategy. “No Om” Yoga as she calls it, deals with more of breathing exercises and also there is modern physical training associated with it. Along with the Yoga training she also runs Spinning sessions. On being asked, if she did not try to expand into other form of exercises, she replied that she wanted to focus. Also she advertised her method of Yoga for athletes thus defining a category of customers herself. This also made the customers self-pick themselves and use this training for a fitness regime. She does not believe in the advertising by attracting customers to discounts and Groupons. She says if a customer is walking to the center on discounts, probably he may not turn up next time.

At the end of the session, she and her friend asked us on how to use the social media, to expand her business. We students of Thunderbird, offered some good suggestions on how she should go about it. Some students also took a rejuvenating session of Yoga after the meeting.

Ramkumar Ganesan (1460530)

MBA Candidate, 2013

Today we were able to meet at a unique place, Tony P’s at Marina Del Rey in Los Angeles. We had Mr. Richard Merkin as our speaker for the day. Mr. Merkin, an MD, is currently a director at FasterCures, which mainly intends to treat the patient at an accelerated pace and optimize the solutions for treatment. We started with an interactive session on healthcare industry that is prevalent in the U.S. and how the system has harmed the well being of the population in general. The healthcare system is run virtually by the insurance companies and medical practitioners. Also Mr. Merkin points out that there is a certain group of under-performing doctors who have constantly been charging more to their patients and not giving the cure immediately, as compared to the doctors who are committed. We need a better system where the patients get healed immediately and at the lowest cost. Also the patient’s   co-operation is required in these cases. We also discussed about the “Medical Tourism”, which is quite common these days for the insurance companies to make the patient fly to other countries for treatment which will turn out to be cheaper.

Mr. Merkin has been recruiting doctors, who clearly have a mission to serve the community. He feels that there should be a benefit given to these doctors who have been able to provide expert medication at a lower cost to the patients. And for each patient, there will be a flexible system which will be the best method for the treatment. Also he feels that there should be subtle changes in the system to cater to the well-being of the society.

Ramkumar Ganesan (1460530)

MBA Candidate, 2013