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Ilya Bodner - ArticlesOver the course of the last 5 years as an entrepreneur I have successfully launched, managed, and sold off several businesses. Each organization started has added some value to my understanding of the business world today. My philosophy has been that 9 things out of 10 that I try will fail, but that golden one is always worth the battle. In my experience that has proven to be the case and my successful businesses still operate today under the management of those whom I have sold off to. The latest project is Initial Underwriting Group, a corporation comprised of two concepts: 1) business credit building and 2) business loan underwriting.
Specialties Leadership, Entrepreneurial Spirit and Mind, Management, negotiation skills, determination for success, understanding and willingness to work hard. Experience Owner Initial Underwriting Group (Privately Held; 1-10 employees; Financial Services industry) September 2003 - Present (4 years 6 months) Initial Underwriting Group (IUG) grew out of the financial side of working with small business owners. Our staff and executive team come from a background of debt settlement, debt restructuring, financing planning and investments. In the process we came to the realization that the average small business owner is forced to stretch to pay their consultants, and give the time that must be devoted. Making the leap to helping business owners was logical and bound to happen over time. We realized that the average small business owner knows little about business credit and often makes the mistake of mixing their personal credit/debt with their business credit/debt. We began working with customers - the small business owners, by showing them how to separate the two. IUG was formed because of this need. And our specially trained agents work one-on-one with small business owners. Co-Founder Insurance Consultants / Universal Resource Network (Privately Held; 1-10 employees; Financial Services industry) May 2002 - December 2006 (4 years 8 months) Universal Resource Network inhoused financial services such as long term planning, estate planning, life and key person insurance, business brokerage and other financial products. This business tailored to all consumer financial needs from personal assets to business liabilities. Reaching close to $2mil in premium collected and a dozen employees I have successfully sold off the business to the managing partners and co-founders. Co-Founder J I Financial (Privately Held; 11-50 employees; Consumer Services industry) May 2002 - December 2005 (3 years 8 months) Debt Settlement, Debt Consolidation, Debt Management and Debt Restructuring. Fully established an office to conduct over $5mil in debt-under-management with over 20 agents and thousands of customers. Upon a partnership with a local law firm and a realignment in the workflow the office has further expanded into more services for each individual customer. With the growth I have successfully negotiated the sale of the assets between a private company and the law office attorneys. The business still operated today with over 4,500 customers in and out. Turning an Idea Into Profit: Sergey Brin"As we go forward, I hope we're going to continue to use technology to make really big differences in how people live and work." - Sergey Brin, Google Co-founder
How many business owners know that Sergey Brin, and his cohort, Larry Page quit their college studies to start the infamous Google in a friend's garage? It's inspiring to know that a couple of college guys with the right idea can achieve that kind of success. Lesson #1 – Build Business Credit and Expand the Business Image! Financial Leadership and Collective ThinkingAs a business owner how many times have you experienced an increase in company profit followed by a sudden request for additional expenditures from one or more of your organizational divisions? The underlying reason for this is the people that staff your company will always tend toward spending every dollar that comes through the door. You may even have this tendency yourself. This is the biggest reason why small business owners are in need of financing at this time. It’s time to save America! California, Small Business Financing, Bailout, Citi, Auto Industry and MoreEverywhere you look people are talking about layoffs, bailouts, and the horrible economy that we are in. Is this going to stop? Winning the Ohio Lottery or Obtaining a Business Loan, What is Harder?Just last month the hottest search was Britney Spears, or some sort of a football game. It is evident that the mega millions are more important during the holiday season. What about our small business owners? Where do they turn to get financing for their business? Strike While the Iron is Hot; Using the Recession to Your AdvantageThese last few weeks of our economic downturn got everyone wound up. From business owners to CEO’s and back to the consumers – everyone is in a panic about the recession and the bailout plans. But what is a recession, really? How are the bailouts impacting your life? Iug Has Been Quoted by the Los Angeles Times for Having the Lenders, But No Clients to Redeem the Financing!Over the past 30 days our economy went on a series of “oohs” and “awhhs”. The media is to blame for this massive panic. Everyone is encouraged to turn off the TV and focus on their small business finances for the next quarter – Q1 of 2009 is rapidly approaching, are you going to have the finances to get into the groove? Choosing Among Financing OptionsYou have a million dollar idea for a small business, enough motivation and drive to launch an effective marketing and advertising campaign, and logistic channels established to get your product or service to the masses. Now the only thing missing is the funding to get your new company up and running through new business financing. If unsuccessful attempts to acquire a traditional bank loan have left you stranded, where do you go? How do you get the funding for your new venture? Michael Jordan's Advice for EntrepreneursWhen it comes to being successful, some people simply have what it takes. It seems no matter what they put their hands on, they succeed beyond their wildest dreams. Michael Jordan is one of those people. From the basketball court to the boardroom, it seems that everything he touches turns to gold. When the Going Gets Tough, the Tough Gets GoingEntrepreneurs are known to learn off mistakes, trial and error, and/or history lessons. Whichever teaching you’ve encountered, to me this proves that failure is necessary for success in business. As a small business owner myself I strongly urge everyone trying to make it out there to keep pushing forward. We are living in rough times, but every generation goes through its peaks and valleys – it is time to put your efforts to the test. Have an Idea? Start NowStart your act now on a business idea. Don’t wait around. Start now. Lack of inertia is the #1 killer of great ideas. According to a survey performed by Yahoo! Small Business, 66% of Americans over the age of 18 have considered starting a business, but many never take the leap.
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