GreenSky earns, hand over fist, with novel revenue model

GreenSky Credit is one of the more innovative companies to have come out of the fintech industry over the last few years. Although the company has followed a very conservative business model, only going after prime borrowers in markets where there is demonstrated value creation taking place, GreenSky has pioneered a new business model, the likes of which have never been seen before.

Big bets on a sure thing

GreenSky Credit’s revenue model is so unique and the business itself so novel that the company’s founder and CEO, David Zalik, found himself having a great deal of difficulty in convincing bankers to help him finance it. Back in 2005, Zalik went on the road to pitch the idea of GreenSky to bankers and other investors across the country. But the entire business model was so unique that he couldn’t find any bank that was willing to back him. He was eventually forced to liquidate his more than $12 million real estate empire and completely fund the new business himself. This would turn out to be a huge net positive for both Zalik and GreenSky.

The problem that the bankers could not overlook was that Zalik was claiming that he could get both his lending partners and his retail partners to pay GreenSky for originating instant loans while also avoiding taking on any lending risk. The bankers and prospective investors wanted to know why on Earth any lender would pay someone to originate a loan if that party was already receiving a large amount of compensation for their services from a third party, and they had no intention of taking on any downside risk at all relating to the possible non-performance of the loans. Zalik had one answer: money. And it turned out that the company was able to generate lots of it.

The secret behind the company’s ability to get its retail partners to pay 6 percent while getting its lending partners to pay a 1 percent annual carrying fee on every dollar loaned is that all of these parties are getting additional high-quality business that they never would have otherwise had.
https://www.marketwatch.com/story/greensky-ipo-5-things-to-know-about-the-company-seeking-to-end-fintech-ipo-lull-2018-05-21

Michael Burwell Is Top In A Fascinating Business Model

 

The leading global advisory team known as Willis Towers Watson has awarded the Chief Financial Officer position to Mike Burwell. He will take over for Roger Millay when he stepped down from his position.

Mike Burwell has more than 31 years within the finance bracket and carries professional services experience within PwC. He carries his leadership roles with him from over the last decade that includes the Head of Global Transformation as well as the Chief Financial Officer within the United States. He carries more than 12 years in the audit experience division as well as with 12 years of history within the transaction service advisory excellence which included trying to help various companies that were pre-merger.

John Haley, the CEO of Willis Towers Watson, went on to discuss how important it is for Mike to join the company. He discusses how Mike leads and drives results from his teams of leaders and that he understands how to manage properly. He focuses on the clients and is confident in how he leads in finance as well as transactions.

Mike Burwell graduated with his undergrads degree from the University of Michigan that has also worked to gain his training in CPA. He carries over 30 years of experience within the industry through a large variety of roles within high end companies and holding onto various crucial roles.

When Michael Burwell was asked where he finds his brilliant ideas from, he is open and honest about the places that he gets his wonderful ideas at, others within the company. He speaks about how everyone in the company has a task to perform and many of them are to find new and exciting ways to make the business bigger and better. Once he has the ideas, it is his job to come up with a way to make the idea work and function.

Mike was asked about how he can stay on top of everything that he is assigned to do. His answer is simple. The way he stays on top of everything is to do more with less. So by coming up with ideas that are more engaging, more feasible, you perform that task with less than you would any other way.

 

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Learn more about Burwell on https://www.crunchbase.com/person/michael-burwell

OSI Industries Growth in the Last Century

Starting from very humble beginnings as a butcher shop in Chicago, OSI industries has risen to be one of the greatest food manufacturers of the present times. From humble beginnings to being one of the largest corporate industries in the sector has been a journey of resilience, determination and certainly, lots of decisions to make.

Having been launched in the early 20th century by Otto Kolschowsky, an immigrant to the USA, the company has grown steadily over the years. Initially, Otto Kolschowsky opened a butcher shop and named it Otto and Sons. After its launch, the company grew in bounds, and by the time the 1st world war began, the company was already expanding to new butcher shops in town. When McDonald’s restraint was opened, Otto & Sons were given the responsibility to supply beef. While McDonald was doing all they could to expand, Otto on the other side was following very closely. Surprisingly, Otto has since been able to overtake McDonald and is presently the largest food manufacturing company in the world. One of the factors that have pushed OSI industries into the giant they are today is the fact that they are the sole provider of meat in every single branch operated by McDonalds around the world. This partnership has been crucial in assisting the company exploit new markets.

OSI industries transformation from a family-based enterprise has taken about two decades. One of their secrets has been providing each restaurant with a product that is consistent. This translates to having each customer get a consistent product. The company has been quick to move along with technology. One of the ways by which the company is using technology to become better by the day is by using flash freezing by use of liquefied nitrogen. This is certainly one way by which the company has been able to cut costs greatly.

OSI industries has grown over the years and has taken every step of the way with the seriousness it deserves. In the late seventies when the family members managing the enterprise realized they were almost retiring they invited a consultant. This must have been the turning point for the company since it would no longer be managed as a family affair but as a large corporate company.

OSI has been expanding by increasing their production lines. Presently, the company is also producing poultry products and has been increasing their partnerships with many more food outlets around the world. The 1990s and early 2000s are the years OSI industries made entry into the Indian markets.

Michael Burwell Hopes To Take Willis Towers Watson To The Next Level

Financial advisor, Michael Burwell ended his 31-year career with Pricewaterhouse Coopers, LLC, in October of 2017, when he joined Willis Towers Watson as the new Chief Financial Officer. The decision to bring in Michael Burwell was a result of the voluntary retirement of longtime Chief Financial Officer, Roger Millay. A graduate of Michigan State University, where he garnered a Bachelors of the Arts Degree in Business Administration, Michael Burwell has exhibited considerable leadership skills over the course of his career, which was deemed a prime factor in his consideration for the position with Willis Towers Watson.

 

During his time with PwC, Mr. Burwell held a number of senior leadership positions, including Head of Global Transformation, as well as Chief Operating Officer and Chief Financial Officer of the United States headquarters. His experience with assessing valuation in companies prior to mergers was also viewed as a desirable trait by Willis Towers Watson.

 

Recently, Michael Burwell participated in a brief Q&A session with inspirey.com, in which he discussed a variety of issues concerning his continued success, as well as a few projections for the near future. Beginning his day at 5 am, Michael Burwell generally starts with a small accomplishment, such as making his bed, which he views as an essential victory that sets the tone for the day’s trajectory. He often utilizes budding technology in order to remain productive throughout the course of his day, which, according to him, helps to “streamline” their operations. Taking advantage of the cutting-edge tools provided to him continues to give him a significant advantage.

 

With his profile and client base consistently growing, Michael Burwell is often asked for advice by his associates and contemporaries, often choosing to stress the importance of “networking and developing relationships.” This mantra coincides with his team-first attitude, which founded on and strengthened by, communication, as well as intently listening to the opinions of his team members, allowing him to give back advice that is both, relevant and actionable. With over 40,000 employees under the Willis Towers Watson umbrella, Mr. Burwell continues to actively utilize the special traits and expertise that he has garnered over his three-decade career.

 

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