Page 1




publisher's note Unveiling our new world


ommunicating with my inner man is a way of unveiling my roots and creative potentials. It is a source of healing and a mirror of my vision. The results are usually positive, leading to power, strength, renewed focus, and a wind of freedom to soar like the eagle. Last weekend, in an effort to communicate with my inner man, my mind journeyed far and near, high and low; and finally on the true meaning of life, and about who we are as terrestrial beings. Is a man defined by a reflection of what he does? Maybe he isn’t. Is it more about where we are at the moment? Certainly not! Is it what we are capable of doing or the person we shall become if we gave it all? Maybe it is! As a business entity, we embarked on a search for our organizational archetype. This effort is synonymous to communicating with our inner man as an individual. Driven by customer satisfaction, we went back to the drawing board to redefine our target market and how best to satisfy its needs. The results of these months of true search and a vision into our new world has led to major changes in our organization and brand. Our publication has gone through a lot of changes over its four years of existence. These changes were warranted as we strove to be an industry leader. Journey with me to our new world. In an effort to keep our brand consistent as a global publication, we have changed the name of our publication from “Entrepreneurs Anchor” to “MOI (Masters of Industry) Magazine." We have redefined our editorial focus to reflect our mission to our stakeholders. Each issue of our publication shall focus on: success stories, empowerment of young entrepreneurs through profiling, tools and resources, road maps, how to’s, and industry highlights. As before, "MOI" will remain a bi-monthly publication. Get ready, as we bring nuggets of business minds and stories from our nation’s brightest minds to you on a monthly basis. A big thank you to our readers, fans, and advertisers; we owe our continued existence to you. This journey of new discovery is aimed at bringing America's finest entrepreneurs and business managers into focus. Our vision and mission are defined by what we are capable of doing and the organization we shall become if we gave it our all. Join us!

Editor-in-Chief Ethelbert Nwanegbo 4 - MOIJACKSONVILLE.COM JULY 2014


Kaela Amaral is from Cape Cod, Massachusetts. She graduated from Bridgewater State University in 2011 with a bachelor's degree in English. She served as editor-in-chief for TopKreyol Magazine, was a contributing writer to goodnewsguardian.com, and has executed other various freelance writing assignments as well. She now lives in New York City and plans to follow her dreams and continue writing.


Robert Kaye is an internationally published copywriter, blogger, editor, podcast producer/host and public relations manager. He's the recipient of several national, state and regional awards. Robert has been published over 400 times in a variety of electronic (Internet, radio,TV) and print media. As an editor/copywriter, he's supervised and contributed to the creation of numerous and diverse publications covering a wide range of topics.



4811 Beach Blvd, Suite107 Jacksonville, FL 32207 904-240-4292 moijacksonville.com info@thinktopgroup.com

Bruce A. Fouraker is a Jacksonville native and lifelong resident. He currently works in banking and has worked in the legal field. He's currently a member of many civic orgazizations and committees.

John Perry is the president and support expert at Amalfi IT, a consulting and technology management services company that focuses on implementing cost-effective, flexible solutions for growing companies.





20-25 Business MIND

meet moi's publisher

17-19 The Chestnut Law firm



40-42 featured Articles

Jack Ma: The Chinese MARK Zuckerberg


50-52. Starting a business: where to start? 58. Business tips

The Heavy Mettle of Duncan Bannatyne Tenacious Scottish Entrepreneur and Award-Winning Philanthropist


45-46. The new face of the market 26-27. Owning and controlling your


brand (s)


67. Is your technology house support in order?

EXECUTIVE CIRCLE 52-53. Ethelbert Nwanegbo


Savitri Jindal: Triumph through Tragedy



Aliko Dangote: Will he Soon be the Richest Man on Earth? 7 - MOIJACKSONVILLE.COM JULY 2014

President Atlantic Coast Bank


John K. Stephens By Staff


tlantic Coast Bank set sail for new horizons last September, when its Board of Directors announced that veteran John K. Stephens would be taking the helms of its Northeast Florida and Southeast Georgia operations as its President and Chief Executive Officer. Throughout his two-decade tenure in the banking and financial services industry, Stephens has been a key player in numerous aspects, advancing to virtually every critical position in a financial institution’s structure. Stephens received an MBA, with a concentration in corporate finance and capital markets, from the University of Notre Dame, Mendoza Graduate School of Business, and earned a Bachelor of Arts degree from the University of South Carolina. Stephens began his banking career in 1986 with Wachovia Bank, N.A., where he started as a regional banking officer, and later, as a relationship manager, was responsible for originating and managing senior debt and ancillary service relationships with corporate clients. Eventually, he was selected to launch and lead a leveraged finance group. From 2006 to 2011, Stephens served as Chief Lending Officer for the Central and North Florida affiliate banks of Fifth Third Bank, N.A., where he oversaw a loan portfolio of almost $2 billion and was responsible for strategic leadership for all wholesale banking activities. Most recently, Stephens served as President of Orlando, Florida-based Tower Bridge Capital, Inc. "MOI" had the opportunity to sit down with the bank’s new leader for an in-depth conversation. Masters of Industry: Please tell us about yourself. John K. Stephens: I’m a native Floridian, born in Tampa, but grew up moving throughout the Southeast US. I attended college in the Carolinas, and got my MBA from the University of Notre Dame. My wife and I have been married for 25 years, and we have two teenagers.


I joined Atlantic Coast Bank as its President and CEO in October 2013. I am a 23-year veteran of the banking and financial services industry, having held senior leadership positions in both a privately held investment firm and nationally chartered banks. I began my career as a trainee at Wachovia Bank, where I

eventually rose to hold numerous leadership roles in commercial banking and corporate finance. MOI: How did you discover your vision or what led you into this line of business/ career?

JKS: I was a liberal arts major in college, with no defined thoughts of post-education employment. During the summer before my senior year, I landed an internship at a bank in Northern Virginia. My mentor in that job taught me that commercial banking was a great place to learn about a variety of businesses. He also emphasized that successful bankers can have a wide array of skills, from quantitatively driven analysts, to sales people with strong interpersonal skills.

"Last fall, we raised $48 million to recapitalize our balance sheet and raise our capital ratios."

MOI: What’s the one thing you wish you’d known before you started in business? JKS: Education is important, but we can always teach people the skills required for most positions in business. What you can’t teach are passion, drive, enthusiasm, tenacity, dedication, and commitment — and those are the things that consistently separate top performers from the rest of the crowd.

sourcing, etc? JKS: I was recruited to Atlantic Coast Bank in late 2013 to develop and implement a corporate turnaround strategy. Last fall, we raised $48 million to recapitalize our balance sheet and raise our capital ratios. We then sold off a significant portion of our distressed loans, cleaning the balance sheet. We’re now putting in place the revenue engines that will drive our performance as one of the elite community banks in the Southeast US.

MOI: Describe your company, it’s services and/or products, and any other information you’d like to provide. JKS: Atlantic Coast Bank was formed in 1939 in Waycross, Georgia where we began as a credit union supporting CSX Railroad. Today, we are a full service community bank with over $700 million in assets, offering a suite of products with a level of customer service that consistently exceeds expectations. Our holding company is publicly traded on the NASDAQ exchange under the symbol “ACFC.” MOI: How did you get started? Your business plan, capital

MOI: Who are your customers? JKS: We are pleased to serve over 60,000 customers via a network of 12 branch offices located throughout Northeast Florida and Southeast Georgia. Our typical customer wants to know their banker and not feel as if they’re being sold a canned product. We differentiate ourselves from the big banks by providing unparalleled personal service, coupled with local decision-making. MOI: What is your value proposition? JKS: We strive to be the premier community bank in our markets,

helping our customers, team members, and shareholders succeed by: Offering financial solutions with a level of customer service that exceeds expectations Being a responsible partner in the communities we serve Committing to employee engagement and investing in our employees’ professional growth MOI: What are your most effective work habits? JKS: I’m a big fan of employee engagement. We all spend a significant portion of our waking hours in the workplace, so it’s important that people feel valued and enjoy the environment in which they work. I believe in empowering our team members to make decisions and take action if it’s in the bank’s and customers’ best interests. MOI: What is the most critical activity in your company? JKS: Customer service! Banking is a commoditized industry, that is, most products and services are relatively interchangeable between institutions. The only real differentiator is the client experience. Companies in our field that can deliver exemplary customer service are the ones that will win over time. MOI: What’s the best business decision you’ve ever made? JKS: Joining Atlantic Coast Bank in 2013. 9 - MOIJACKSONVILLE.COM JULY 2014

MOI: Conversely, what’s the biggest mistake you ever made in business? JKS: The biggest mistakes I’ve made in my career have almost always been personnel decisions. I’ve learned over time that a strong leader needs to establish and publicly promote his or her core values. These are the behavioural things that I think are important, and that I want my teammates to follow every day. The mistakes I’ve made have been when I let someone’s qualifications or previous experience sway me to ignore the fact that they don’t share our team’s core values.

entrepreneur? JKS: Reach out to as many people as possible for ideas and feedback. Virtually every problem or challenge you’ll face has been experienced by someone else before you. Secondly, never get so emotionally attached to an idea or a process that you can’t recognize a better alternative when it comes along. As a lender, I’ve seen countless businesses that continue to meander or suffer because their leaders refused to deviate from their original plans, despite a shifting economy or competitive landscape around them.

MOI: Share your number one sales MOI: How do you relax? What technique with us. do you enjoy the most — work, JKS: Listen! We don’t sell products. family, love, faith, etc.? We provide solutions that meet our customers’ financial needs. MOI: What’s your best tip for managing people? JKS: Most people don’t want to be managed. They want us to provide guidance and tools to accomplish their goals, and then get out of the way. I’ve always been a big fan of hiring bright, talented people and then giving them the resources necessary to do their jobs. MOI: How do you motivate your employees? JKS: First, we over-communicate. I believe it’s important to share our strategic initiatives and plans with all team members, to ensure we’re all working for the same common goals. And once we achieve them, it’s important to reward our teammates for their contributions and publicly celebrate our wins. MOI: What’s your advice for a young and upcoming 10 - MOIJACKSONVILLE.COM JULY 2014

"Listen! We don't sell products. We provide solutions that meet our customers' financial needs."

JKS: I’m single-mindedly dedicated to our employees and customers during the workweek, but my weekends are reserved for my family. I enjoy travelling, hiking, and following college sports. But it really doesn’t matter what we do as long as I’m spending time with the people I love. MOI: Is there something else about you or your business you’d like to share? JKS: I stepped into a truly extraordinary opportunity at Atlantic Coast Bank. We inherited a challenging set of circumstances, and have quickly established a foundation to turn it into something special for our team members, our shareholders, and the communities that we serve. Under the new stewardship of John K. Stephens, the Atlantic Coast Bank has chartered a new direction for itself. It’s expertly steered by Stephens’ dedication to providing exceptional customer service and solutions for their clients’ financial needs, as well as his belief in employee empowerment, and commitment to communicative teamwork. With Stephen’s visionary, yet pragmatic leadership style, Atlantic Coast Bank is now poised to achieve greater growth and recognition as the region’s leading community financial institution.




of the four new Chief

Executive Officers at Jacksonville’s six independent authorities is Nathaniel P. (Nat) Ford. Mr. Ford brings 30 years of experience in the transportation industry to Jacksonville. Based on his first nine months as CEO of the Jacksonville Transportation Authority (JTA), we can expect major improvements in Jacksonville’s mass transit system (writer’s opinion). Mr. Ford brings the experience of running two of the nation’s 10 largest transit agencies: the San Francisco Municipal Transportation Agency (SFMTA) and the Metropolitan Atlanta Rapid Transit Authority (MARTA). He has built his entire executive career being effective at organizational

Photo of Nathaniel P. Ford Courtesy of JTA

leadership, innovation and fiscal responsibility. In San Francisco, Mr. Ford was responsible for providing multifaceted transportation services to more than 200 million customers annually for SFMTA, which included bus and light rail transit, trolley coaches, the famous San Francisco cable cars, parking and traffic, bicycle paths and pedestrian amenities, as well as taxi regulatory 11 - MOIJACKSONVILLE.COM JULY 2014

oversight. Among the highlights of Mr. Ford’s accomplishments in San Francisco was the groundbreaking of a $1.6 billion Central Subway project, coordination between the existing commuter rail and proposed high speed rail, implementation of a new corporate vision, growth of revenues and grant awards, and an innovative parking management system that provided real-time information about parking availability. Mr. Ford brought financial stability to the agency by implementing a two-year budgeting process and by helping negotiate a landmark contract with transit operators that saved the agency (SFMTA) an estimated $41 million. Mr. Ford served at MARTA for eight years between 1997 and 2005, he spent his last five years there as General Manager and Chief Executive Officer. His responsibilities during his tenure included rail, bus, paratransit and law enforcement. This tenure showed his ability to leverage private/public transit projects known as Transit Oriented Developments (TODs). One of Mr. Ford’s noted accomplishments was launching the development of Lindbergh City Center, a multi-use project that linked office space, upscale multifamily housing and retail tenants to the Lindbergh Transit Station. This project was one of the first TODs in the nation. Being one to always embrace innovative measures in the improvement of transit authorities, Mr. Ford spearheaded MARTA’s conversion to the “BREEZE” SmartCard fare collection system. The program, which dramatically improved customer service and reduced fare evasion, made MARTA one of the first transit organizations in the country to implement this advanced technology. Under Mr. Ford’s leadership, the MARTA Police Department was recognized by the Commission on Accreditation for Law Enforcement Agencies (CALEA), an honor shared by only four other transit authorities. Mr. Ford received numerous awards for his ambitious programs and initiatives, including the Martin Luther King Civic Committee Distinguished Public Service Award, the Bay Area Achiever in Public Service Award, and the Thomas G. Neusom Founder’s Award. He has a history of involvement in professional organizations such as the American Public Transportation Association (APTA), the National Association of City Transportation Officials (NACTO) and the Conference of Minority Transportation Officials (COMTO). Mr. Ford is a graduate of Mercer University, where he earned a Bachelor’s degree in Organizational Leadership. Masters of Industry: Mr. Ford, you worked for transit agencies in New York, where you started on the ground level as a train conductor and worked your way up to top positions in Atlanta and San Francisco. What did you learn about transit systems and system patrons at the entry level? Nathaniel Ford: Working my way up the operational ladder from conductor to general manager and CEO enabled me to learn every facet of transit operations. I learned about best practices and the importance of providing excellent customer service. Transportation is in my blood, my father and siblings were in the transportation industry. During my 30-year career I have learned that transportation is about more than driving buses. It is about providing a valuable service that improves the quality of peoples’ lives by giving them access to work, health care and educational opportunities.


Mr. Ford received numerous awards for his ambitious programs and initiatives. MOI: The BART System in Oakland, the SFMTA System in San Francisco, and the MARTA System in Atlanta are Heavy Rail Systems that are considered successful, what ideas from these systems can be brought to Jacksonville in operating on a much smaller scale with a monorail system like the ASE? NF: Efficiency, sustainability and financial responsibility are imperative regardless of the size or the location of the system. Those are my guiding

principles regardless of the size of the transit agency. MOI: How did the performance of your particular portfolio/area/division improve while you were in Atlanta and San Francisco? NF: When I was at MARTA, I opened the Armour Yard Rail Services Facility to increase MARTA’s service and storage capacity. The project opened ahead of schedule and $10 million under budget, an accomplishment of which I am very proud. When I was at SFMTA, I helped the agency become financially stable by implementing a twoyear budgeting process, which was a first for the agency. I also saved the agency $41 million by negotiating a contract with transit operators that saved the agency money and was favorably received by workers. MOI: Moving forward to Jacksonville. At present our first question delves into small and medium businesses and how they can submit bids to do business with Jacksonville Transportation Authority (JTA)? NF: We have an open and transparent purchasing policy. The first thing any business interested in working with JTA should do is register as a vendor. This can be done on our website at www.jtafla. com. Then monitor the website from time to time to watch for requests for bids or proposals. It can all be found under “Working with JTA.” Second, if a business is a small or minority business, they need to be sure they are registered with our Disadvantaged Business Enterprise team. Just contact Ken Middleton at kmiddleton@jtafla.com and he will get them started. MOI: Can businesses receive discounts on bus passes as an employee benefit if they have multiple employees riding JTA’s bus system? How about discounts on Skyway parking if they utilize the system? NF: Businesses that have transit riders can provide benefits to their employees through the national Commuter Choice program. This program allows companies to purchase bus passes for employees and receive tax benefits. If they do not wish to purchase the pass for the employee, they can allow employees to purchase transportation or parking using pre-tax dollars. For more information contact

Mike Miller at mmiller@jtafla.com . MOI: What is JTA’s Mission Statement? NF: Our mission is to provide safe, efficient and reliable transportation services to customers while providing excellent customer service. Our vision is to improve Northeast Florida’s economy, environment, and quality of life by providing safe, reliable and efficient multimodal transportation services and facilities throughout the region. MOI: One of the first actions you took upon arriving in Jacksonville was to start an evaluation of the Bus System and how routes may be changed or time tables adjusted on routes that remain. What is status of the JTA’s evaluation? NF: The process is well underway. This month, the JTA kicks off an on-time transportation initiative called OTTO, which stands for On-Time Transit Operations. We looked at route schedules that had not been changed in years, despite the growth patterns in Jacksonville. We are also in the process of an extensive system assessment to develop a framework for revising all of the routes that need updating. This process will also involve extensive public involvement and outreach to key stakeholders. We plan to begin actual service changes beginning next summer. MOI: What changes are foreseen based on the evaluation as it stands now? NF: While we don’t have any preconceived notions as to what the changes would be, there are observations we can make about our system. For example, on some routes we have long trips that minimize the need for transfers. For some customers this is good, but the consequence is that trips tend to take a long time meandering through neighborhoods with many stops. Some other observations are that we have high headways (low frequency of service). We need to improve our amenities at stops and the access people have to information about our buses. Additionally, our on-time performance can be better. These are all things that are critical to attracting and retaining choice riders so the blueprint will be focused in these areas. MOI: There has been mention in several media outlets of tying more bus routes to the Automated Skyway Express (ASE). There is mention among those who are Downtown advocates of keeping as 13 - MOIJACKSONVILLE.COM JULY 2014

many buses as possible out of Downtown. What bus routes is JTA planning to utilize to intercept the ASE? NF: The results of this effort may look totally different than what is on the road today. We will look at the opportunities to better utilize the Skyway to support our fixed route buses. We really have three hubs Downtown but we tend to focus our service around Rosa Parks Transit Station. We definitely need to look at better use of the Kings Avenue and Convention Center Skyway. I think an overlooked benefit of the BRT [Bus Rapid Transit] program will be better connections at these locations.

"We will look at the opportunities to better utilize the Skyway to support our fixed route buses." MOI: In 1988 it was estimated that intercepting 90% of buses with the ASE and keeping them out of Downtown would save $2 million in (1988 dollars). Is there current estimate of cost savings in bus operations if this action was taken? NF: Without a firm plan to restructure routes to better use the Skyway it really is premature to put a number out there on this. We do know that without the Skyway, today we would have more buses running downtown and there would be a significant annual cost associated with that. MOI: How would this change ASE ridership and bus ridership? NF: If we do it right we can significantly improve ridership on Skyway. The key is to do so without adversely impacting our fixed route riders and potentially driving away customers. MOI: You have previously mentioned in speaking engagements that the ASE needs to have the cars and the command-and-control systems updated. Based on numbers that are estimates the cost would be around $25 million for the 10 cars and $5 million for the control system. Are these accurate estimates or has JTA come up with different numbers? 14 - MOIJACKSONVILLE.COM JULY 2014

NF: We are conducting a system plan and technology assessment that will give us better understanding of the future Skyway opportunities and technology challenges. We need to think about how to make the Skyway, work better by connecting employment, populations and activity centers that are really close to downtown. MOI: Does JTA intend to do these extensive upgrades before starting the bus intercept to minimize disruption of service? NF: Honestly, the Skyway is a longer-term discussion and the route restructuring is an immediate need and opportunity. Any time we make major upgrades to the Skyway the JTA will have a corresponding plan for maintaining operational effectiveness during improvements. MOI: While the ASE is down for the upgrades in equipment and software, will they look at adding a Y-switch to the guide way at Bay and Hogan streets to minimize disruption in the future? NF: These are the types of issues that will be addressed in the system plan and technology assessment. We will be looking at many options. At this point we really are not constraining ourselves by identifying what we will or will not do. MOI: The recently declined TIGER Grant would have allowed JTA to extend the ASE a few thousand feet and add a new station between the Sawyer Center and the Times-Union Performing Arts Center. Is there an alternate source of funding available? Are there plans to eventually extend the ASE to near Florida Blue (Blue Cross and Blue Shield)? NF: Our first step is to get with Federal Transit Administration (FTA) to determine whether we were competitive and what we need to do to be competitive in the future. The System Plan would help with that. The extension to Forest Street was in previous plans. Due to requirements of the Tiger Grant, we believed the shorter extension stood a better chance of getting funded and completed in the timeline they desired. We should discuss the extension further down Riverside. MOI: The developers at Hallmark have been opposed to the ASE extension. Has JTA been

A Possible Design for Jacksonville’s Future Commuter Rail System. From JTA’s 2008/09 Annual Report.

working to turn them around on the expansion or is JTA looking at property on the east side of Riverside Avenue for a possible station? NF: We have been talking with them and they really do want to see improved transit options. We need to figure out a win-win. They are really committed to the area and doing some great things that will drive transit ridership. I am very confident we are going to be partners with them as we move forward.

MOI: A group out of Greenville, SC is making electric buses that use inductive chargers (no plugs); these buses run 40 miles between charges and fully charge in five to ten minutes (during the driver's break). If Jacksonville Electric Authority would provide the chargers on your routes, would JTA consider purchasing electric buses (for routes where a speed over 65 mph is not required)? NF: We have looked at electric buses but, given the distance restrictions and the wide expanse of our service area, we have had some concerns. Right now, we are leaning more toward compressed natural gas (CNG). (Writer’s note: As of press time there are plans for JTA to purchase 100 CNG buses over five years.)

"I honestly think the community is better served if we use savings from efficiencies to improve service." MOI: Moving to the future, the area around Everbank Field has a potential 7.000 to 10,000 park-n-ride spaces during the weekdays, which are generally a time when events are not taking place. The City Council approved allowing the Charles F. Adams to dock across from the Maxwell House coffee plant, the city needs to tie the ship to hotels as well as tie the Hyatt to an expanded convention center and finally there is a new interest in developing the Shipyards. Based on these changes, is it now feasible to expand the ASE to Everbank Field with an end station at Parking Lot A? NF: Since we have available Park and Ride spaces at the Convention Center and Kings Avenue right now, I think it may be more driven by development along the Shipyards. This is one of several future potential extensions we need to take a serious look at.

MOI: If the electric (and CNG) bus service saved enough fuel, operation and maintenance costs to eliminate the need for the $10 million that we currently derive from bus route fares and special events, would JTA consider providing free bus service? NF: I honestly think the community is better served if we use savings from efficiencies to improve service. I’d rather see us trying to improve frequency of service and provide 15 - MOIJACKSONVILLE.COM JULY 2014

amenities that attract more riders. MOI: There has been discussion in a recent "Times Union" article on heavy rail using existing lines terminating in communities such as St. Augustine, Green Cove Springs, Macclenney and Hilliard. Does JTA have a timetable on such a service? NF: We are currently finalizing the corridor prioritization and it looks like the Southeast Corridor from Downtown to St. Augustine will be our first project. Since this would be funded as a FTA New Starts Project, our timeline will be driven a little by their process and availability of funding. With that in mind, we would like to see revenue service around 2021. MOI: The St. Johns River has always been an asset to our city. Back in 1975, a Canadian company

NF: There have been two water-borne transportation studies completed for Jacksonville. The most recent was in 2007. Both studies found water-borne transportation not feasible. The primary restriction is access to the river for stations or stops. However, we will continue to keep it in the mix. MOI: There is a move to make all transit systems regional and not local. Is JTA prepared to move into the role of serving all of Northeast Florida and possibly part of Southeast Georgia? NF: We expect to be an implementer for the newly created Regional Transportation Commission as it develops a regional transportation plan. In fact, we are already working with our neighbors in Baker, Clay, St. Johns and Nassau counties to provide regional services and better coordinate our local services on a regional scale.

"I honestly think the community is better served if we use savings from efficiencies to improve service." did a demonstration of a Hover-Ferry (the HMS II) for JTA. With many Riverfront attractions such as our world class zoo, Fort Caroline, Historic Mayport Village, Kingsley Plantation as well as many waterfront communities within 30 miles of Downtown, would JTA consider a Hover-Ferry Service?


MOI: Finally, the Jacksonville 2025 Report was just issued by JCCI. What do you foresee for JTA and more specifically, mass transit in Jacksonville in the year 2025? NF: In 2025, I see JTA as an even greater catalyst for economic growth in the city and the region. Maintaining and improving our economy and quality of life will depend on a well-connected, multi-modal transportation system. I see JTA as the implementer on the transportation projects and services that move us forward in the future.

Transportation in the Jacksonville area appears to have a bright future. Under Mr. Ford’s leadership, JTA is becoming more innovative and should be an integral part of transportation in The Northeast Florida and Southeast Georgia region.


The Chestnut Law Firm by Bruce A. Fouraker


Chestnut Firm specializes in litigation for the plaintiff involving automobile accidents with serious injuries, product defects, and trucking accidents. It also represents businesses in commercial disputes on a contingency fee basis and represents those who are injured in nursing homes. With offices in Jacksonville, Gainesville, Atlanta, Charlotte and Miami, the firm can litigate over a wide geographic area. Christopher M. Chestnut, Esquire the principal partner of the firm, has advice in all of these areas for individuals and small businesses. Auto Accidents: Regardless of whether or not you are at fault in an automobile accident, if you are injured, you should seek the help of a medical professional within two weeks of the accident. This can be a physician, a hospital emergency room (ER) or an acute care center such as Carespot (formerly Solantic). This does not include a chiropractor; you can go to the chiropractor after seeing the doctor. If you do not seek medical help within this time period, you lose the right to file with your personal injury protection (PIP), your uninsured motorist protection, the other party’s liability insurance (an off-set of $10,000) and your medical insurance. If you were not at fault you would then

Photo credit: The Chestnut Law Firm 17 - MOIJACKSONVILLE.COM JULY 2014


This means that if there is 5,000 attorney’s hours and you lose you do not pay lawyers’ fees."

have a claim against the at fault driver. If the at-fault driver has auto insurance with liability you can then file a claim. If an uninsured motorist does not have liability you possibly can make a claim for over the $10,000 PIP limit. In order to do this the policy needs to be stacked; this works with an individual who has multiple vehicles, for five to ten dollars per month you can stack the policy and increase your PIP for $10,000 per vehicle owned (two vehicles would be $20,000 and three vehicles would be $30,000). This is important because in addition to uninsured motorists, there are many underinsured motorists. From the standpoint of the possibility of being the at-fault motorist, Mr. Chestnut recommends at least $25,000 in liability (injury) insurance per person. You should also have a discussion with your agent as to how full coverage is defined. If the purchase

Photo credit: The Chestnut Law Firm

price on a new car or fair market price on an older car is not completely covered, the owner should purchase gap coverage as a part of the policy to cover the difference. Copyright and Intellectual Property Infringement: A small business will often have an idea, a slogan or a product that it developed (it may or may not copyrighted). This business makes a sales pitch to a large corporation which then takes this intellectual property and uses it without compensation. The large corporation figures the small business does not have the resources to sue them for the infringement. This is where The Chestnut Firm can help. It will litigate your case on a contingency basis. This means that even if there are 5000, attorney’s hours and you lose, you do not pay lawyers’ fees. There may be some costs associated with the case that you have to pay. However, these costs would pale in comparison to hourly charges that you would save in most of these cases. Surviving a Liability Case: Mr. Chestnut recommends that all small businesses should purchase at least one million dollars in general liability coverage. He also cautions any business with a fleet of vehicles should not confuse this with automobile coverage. Make sure that you have a separate commercial automobile policy as most general liability policies exclude 18 - MOIJACKSONVILLE.COM JULY 2014

automobile coverage. Another important recommendation is to review the policy with the agent to determine what is covered and what is excluded and to purchase the additional coverage in needed areas if possible. The insurance company is looking out for its interests; but, in doing so it may create a case where in going to trial because of an insurer’s refusal to settle, the defendant may have a judgment exceeding the liability coverage. It is possible that this judgment could even force the small business to close. It is important to hire an attorney to represent the interests of the small business. A plaintiff’s

firm such as The Chestnut Firm is ideally suited to represent the business’ interest in such a claim. It understands the plaintiff’s attorney’s tactics and the tactics of the insurance company and its counsel. It is important that your business’ interest is represented. Preventing Elder Abuse and Neglect: Mr. Chestnut emphasizes that with our aging population, elder care is a growing issue. The issue may be greater for small business owners who do not have time to care for their parents. He makes the following recommendations regarding nursing homes: • In the case of a nursing home, always check the ratings by the state agency (in Florida’s case, the Department of Families and Children). Ask the nursing home questions before agreeing to use their facility. If they have changed their name recently, that is a sign they may have been sued. Ask about the level of their liability coverage, is it enough to cover the cost of any issue that may arise? With nursing homes, the 80/20 rule applies. 20% of nursing homes are responsible for 80% of the liability issues. • In making certain that proper care is given, visit often at different times. Ask your parent questions about how they are treated. If they complain, pay attention to what they say. If they have suffered an injury or illness take them to the hospital. The ER staff will know if their condition is a result of abuse or neglect. If the situation is not resolved or if the illness, or injury is serious, you should involve an attorney. How to Contact Our Office: If any of the legal problems outlined above should arise, or you need a legal question answered please contact us. The Chestnut Firm can be reached at 855-5CHESTNUT (855-524-3786). You may also go to the website at chestnutfirm.com. Someone will respond within 24 hours. 19 - MOIJACKSONVILLE.COM JULY 2014


MIND meet moi's publisher

by Bruce A. Fouraker

Photograph by Jean E. Gustave


t this point you’ve either picked up a copy of “Masters of the Industry Magazine” (“MOI Magazine”) or are scrolling through the website. For those unfamiliar with “Entrepreneurs Anchor,” our previous publication, meet “MOI Magazine” publisher, Ethelbert (Eh-tell-bert) Nwanegbo (Nwan-egg-bo).

Mr. Nwanegbo was born in Nigeria. After earning his Bachelor’s Degree in Accounting with honors, he came to the United States 11 years ago. Since arriving, he has subsequently earned two masters degrees from the University of North Florida, as well as obtained numerous professional certifications.




This article discusses the two businesses Mr. Nwanegbo has created.

ThinkTop Media Group™ ThinkTop Media Group is divided into: • Masters of the Industry Awards • “MOI Magazine” (including “MOI Magazine Jacksonville”) • Website Design, Maintenance and Hosting • Marketing Planning & Services • Advertising These services are included in its marketing package: • • • •

Advertising Campaigns/Media Buying Print Marketing Campaigns Branding Research & Analytics

Likewise, our articles allow you to “meet the face behind the company.” We communicate the person’s story by providing a professional profile, highlight their relevant education, and importantly, describe how they built their business. Just as meeting someone face-to-face allows for establishing the trust to do business with them, in reading our profiles in “MOI Magazine,” you get to know the featured persons better. You gain knowledge about their business acumen and consequently, your level of trust regarding them is increased. Consequently, a possible future business relationship becomes easier to build. The

MOI concept is suited to most major metropolitan areas: In addition to publishing “MOI Magazine Jacksonville,” part of its rebranding plan is to franchise “MOI Magazine” in 50 cities within the next five years. We provide a full range of support services to our franchisees in other cities from our Jacksonville office. This first step was recently inaugurated with an agreement to franchise and manage “MOI Magazine Birmingham,” in Alabama.

"The purpose of MOI is to be the best of the best in business." "Masters of Industry magazine": ThinkTop Media Group publishes “MOI Magazine.” This past year, the decision was made to rebrand Think Top’s previous publication, “Entrepreneurs Anchor,” as “MOI Magazine” to directly tie the publication with Think Top’s highly successful, annual Masters of Industry Awards. "MOI magazine" spotlights those who are successful: The purpose of the Masters of the Industry Awards ceremony is to honor the very best in business; those exceptional individuals and organizations that have become “Masters of their Industry.” Similarly, within each issue, “MOI Magazine” provides detailed information on several dozen successful business people who give knowledgeable information and advice on how they reached their level of success. The articles are informative and insightful, so our readers get to know these entrepreneurs and business leaders more personally. Business relationships are built on an individual basis. You meet the person, get to know them, and build a working relationship on one-to-one basis.


MOI’s business model allows for a low startup cost: One of the keys of our magazine’s start-up model is that by using the franchise and management contracts, the actual start-up cost is about $30,000. This is in comparison to the usual magazine start-up costs of approximately $200,000. The advertising model (see the description elsewhere in “MOI Magazine”) allows the franchisee an average-per-issue revenue stream between $20,000 and $40,000. By the third or fourth issue, the franchisee is making a profit. Our

“MOI Magazine” franchise model is unique within the printing business. Our local circulation: The local circulation is in Jacksonville’s five-county Statistical Metropolitan Area (SMA). With a population of 1.4 million, it was decided to use 115 distribution points to distribute 15,000 magazines. The actual readership is much greater than 15,000, since our research has shown that each individual magazine is read, on average, by four or more people, giving us a readership of at least 60,000. MOI’s editorial focus is on providing the best and most up-to-date business advice: Our features are geared toward providing a learning experience, giving our readers better insights either as a business leaders, entrepreneurs or even employees. We provide this through: • Success Stories: Unveiling business icons and sharing information about their business success. • Empowerment: We empower and promote new entrepreneurs. • Tools and Resources: We give our readers the right tools and resources necessary to manage ongoing changes in the business landscape. • Road Maps: We keep or readers focused with articles that are actionable, timely, instructive and relevant. • How-To Guides: We give our readers tips and step-by-step guides in solving everyday business problems. • Industry Highlights: We keep our readers abreast of information necessary for making critical decisions that is industry specific.


PowerHouse Anchor, Inc.™ PowerHouse Anchor Consulting, Inc. isn’t just an accounting firm. It goes beyond completing taxes, accounting and handling payroll to offer: • Accounting & Financial Advisory Services • Tax Services & International Tax Consulting • Business Technology & Outsourcing Services • Management Consulting Services • Corporate & Business Licensing Services • Risk Management & Fraud Control Consulting Describing the above services in full requires more space than is available for this article. For more details regarding them, visit: http://phanchor.com/index.html; or call our office, 904-265-0765.

Our Mission: To take your business to new heights. Our Craft: Provide core solutions that drive measurable business results. Our Pride: Consistently deliver dependable, measurable and reliable business results.

Powerhouse Anchor serves small- and medium-sized businesses including medical practitioners, construction companies, rental companies, restaurants, and other professionals such as attorneys. Powerhouse Anchor’s Business Proposition is to take your business to the next level. We guarantee that our clients are satisfied with any and all the services we provide. Our customers aren’t just a number or a name on a list; we value them as family. Our goal is to ensure our clients’ needs are met and they’re satisfied with our service. Our client retention rate of 98% affirms our level of client satisfaction. Powerhouse’s most critical activity: Our first priority is to go through an assessment process to gain an understanding of our clients and their needs. By understanding our clients, we’re better able to advise them of the steps needed to reach the next level. This leads to our goal of helping our clients to become their very best. Without a thorough understanding of our clients, we could never achieve our high success rate in adding value to their businesses. On ensuring we delight our clients: We consistently achieve this by providing superior service and going above and beyond the norm. For example, most companies must file an annual report. We know some clients may be too busy to remember to file it; the late fee is $400. Before the filing deadline, we charge one of our employees to call our clients to remind them of the upcoming filing deadline. This may seem like a cost to our business and may not seem to add value at the time. However, when our clients need one of our services, they remember we look out for their best interests. Our sales technique is to provide clients with superior service: Making a sale goes beyond just signing a contract. By providing the best experience possible to our clients, we sell them on our services. Sixty percent of our new clients come through referrals from existing clients. Nothing closes sales better than ensuring our clients are 100% satisfied.


Expertise is built through doing the job: Mr. Nwanegbo has worked as a consultant for Fortune 500 companies, he’s served as Chief Financial Officer (CFO), and he has the experience of consulting with hundreds of companies, thus providing a high level of expertise to Powerhouse Anchor. He uses this when working directly with clients and in mentoring his staff that are assigned to our clients’ cases. The important take-away is that this “powerhouse of business expertise” is provided for all of our clients.

"Our client retention rate of 98% “speaks” to our level of client satisfaction."

On providing an excellent staff: We have the personnel, the experience, and the related level of expertise to help our clients. One of the great things about Powerhouse Anchor is our employees’ passion. Our staff is dedicated to doing what ever is necessary to satisfy the needs of our clients. It’s the dedication and expertise of our staff that is a large measure of our success.

On being a business technician: Writing a business plan is essential to having a successful business. The question is: “How does the business plan fit logically into the environment in which your business will operate? “ In order for a business to succeed, it must have synergistic components: • There must be the right product and/or service. • Consumers must want, need, be able to access, and afford the product and/or service. • Right staffing decisions must be made. • There must the proper level of efficiency in bringing your product or service to the customer/client. • The product/service must meet the customer’s/client’s needs. • The product/service must be effectively marketed. • The business must have the appropriate methodology in place to continuously reevaluate the process and to make changes in product, distribution, staffing and or marketing as needed. "MOI Magazine” is privileged to present its publisher, Ethelbert Nwanegbo, as its first Business Minds feature. Each month, we’ll present a different business leader and discuss the company they’ve created and/or lead.




BUSINEsS PROFILE Let’s Talk About It with

Pastor Jeff by Bruce A. Fouraker

Photography by Jean E. Gustave


astor Jeffery B. Valentine, who prefers to be called Pastor Jeff, and his wife Patricia (Trish) Valentine have a TV ministry called “Let’s Talk About It with Pastor Jeff” on CW17 on Sunday mornings at 5:30 a.m. The Pastor also has a radio program at LTAIRadio.net and a prison ministry. Pastor Jeff is a veteran of the First Gulf War and the recipient of two Bronze Stars. We at MOI applaud Pastor Jeff’s service. Pastor Jeff was born in Greenville, South Carolina. His parents divorced in 1974 and he moved to Jacksonville with his mother and siblings. They knew where his father was; but his father was not a part of their lives. (As an adult, Pastor Jeff has reconciled with father who has found Christ and sings in a church choir.) When Jeff turned 10 his mother was diagnosed with colon cancer. At the age of 16, when he was at Sandalwood High School, his Mother passed away from colon cancer. He said, “I remember that my mother said to me right before she passed away, ‘If you want to see me again, you must turn your life over to Christ’. I have never forgotten that.” On January 19, 1984, God called his Mom to glory. Jeff’s and his siblings were left on their own. At the time he and his older brother were homeless and living in cars. They were hungry and would sometimes break


into empty apartments to have a roof over their heads. They did not know where their next meal was coming from and would go for three or four days without a bath. Pastor Jeff states emphatically, “At the time I was angry with God for taking my mom and leaving me and my siblings with no sense of direction.” Pastor Jeff continues, “Eventually

heeded the advice that his mother had on her program and share my given him over 11 years earlier and testimony. She asked for me to surrendered his life to Christ. return and give more testimony on the following week.” Pastor Jeff gave his life over to the Lord in November of 1995. After giving Pastor Jeff started his television his life over to the Lord he became ministry on Cable Channel 99 active on the witnessing team and was and has now moved to CW17. involved in a prison ministry. At the He also has a radio show at time Pastor Jeff was trying to get grasp LTAIRadio.net. There are some on what it was to be Christian. He sat things the readers of "MOI" down under the leadership of Bishop can do to help the TV ministry. Virgil Calvin The items needed are two TV Jones Senior for quality cameras and a video eight years and board. Volunteers are welcome he believed that including a retired camera man God was calling or news producer to run the video him into the board (they hope to acquire) and ministry. Pastor direct the camera operators. Jeff stated, “At that time I did Pastor Jeff is currently looking not know what that was; but I started for a large house (it can be a fixer taking ministry classes.” upper) for the use of his prison ministry. When inmates are He continues: “Though I was released they always do better previously saved, I had not completely if there are family members surrendered my life to God’s will until and friends to provide a support May of 2005. My life underwent a network. For those who lack this transition on May 4, 2005. As a bit of support, Pastor Jeff wants to background, I have now been a driver build a halfway house. for UPS for 22 years. On that day in 2005, I almost lost life in a head-on Anyone in the community who accident with another tractor trailer. I need spiritual guidance, anyone realized that my life did not belong to who has property available, or me it belonged to Our Heavenly Father. has video equipment and is This incident finalized my decision to moved by the Spirit to help Pastor take advantage of my training and to Jeff, or anyone who wants more become a minister.” information about his ministries should contact: Pastor Jeff goes into how his ministry came about, “I was ordained on A JBV Ministries Project August 19, 2005. My ministry came "Let's Talk About It: Talk Show" about in this fashion; I was doing a lot CW17 Sunday at 5:30 a.m. of prison ministry under the Philippian Also Community Church. I was Downtown Comcast Sunday @ 5:30 p.m. at 1 o’clock on Saturday morning and met this chaplain. Her name was Chaplain Jaqueline P. Olds, at that time she had her own local TV show and she asked if I would come

“I went into the military and served in the First Gulf War." I went back to school and got my High School Diploma from Sandalwood High in 1985. I still was angry and had no sense of direction. About this time my oldest son was born. To make a long story short my three oldest children were born during my first marriage. I have since remarried and we have a total of six children. I did not know what I was doing and my life was a mess.” He goes on: “I went into the military and served in the First Gulf War, I went through things in Kuwait that you would not want your worst enemy to go through. I really believe this is the reason they gave me those two Bronze Stars. It was after serving over there that I realized I needed to make a change.” Pastor Jeff received his calling after returning to Jacksonville in August 1995. The more God was calling, the more he was running and fighting the call. He finally



By Robert Kaye


andwiched between fellow luminaries Mark Zukerburg, Cofounder, Chairman and CEO of Facebook; and David Thomson, Chairman, Thomas Reuters; is “Forbes” 24th wealthiest billionaire, entrepreneur, Aliko Dangote. He is now officially on record as being the richest man in Nigeria, his home country. Furthermore, Aliko Dangote is now the wealthiest person in all of Africa. And as if that wasn’t an admirable accomplishment, this past January, he surpassed Saudi-Ethiopian billionaire Mohammed Hussein Al by over $2.6 billion in 2013* to become the world's richest black man with an estimated new worth of $25 billion. Dangote was born in Kano, Nigeria in 1957 into a wealthy Muslim family. Dangote's grandfather, Alhaji Sanusi Dantata, made a fortune in the 1900s exporting peanuts to Europe. Even as a child, so the story goes, little Aliko was entrepreneurial-minded. Not content with setting up a typical youngster’s lemonade stand, he launched a business buying bulk candy and then successfully retailed it to his classmates for profit. In college, Dangote majored in business studies, graduating from the Al-Azhar University in Cairo, Egypt. Upon his return, he started trading cement, sugar and


Photo credit: http://www.fotopedia.com/items/flickr-5692830332

Nigeria Rising: Aliko Dangote

Will he Soon be the Richest Man on Earth?

He made a major amount of money with Dangote Cement Brazil, and expanded from there. flour commodities — this was to become his “triumvirate” — with a $5,000 loan from his powerful uncle, Alhaji Usman Dantata, who, like the family’s patriarch, Sanusi Dantata, was also skilled in business. Usman also secured a highly lucrative government contract to manufacture cement. With his powerful familial connections, Dangote was able to quickly procure the requisite licenses, which is sometimes problematic in Nigeria. Aliko inaugurated the Dangote Group in 1977 (and married that same year) and began to amass his fortune, raking in an average of N10,000 per day, in comparison to the cost of a shiny new Mercedes Benz 200, with its sticker price of N7,000. Propelled by Dangote’s visionary entrepreneurship, his company would continue to grow and expand at a noteworthy pace. Then, following the historical precedent set by Europeans centuries ago, he set his sights abroad. Dangote traversed the trade winds to South America, primarily Brazil, where he began to cement his fortunes. He made a major amount of money with Dangote Cement Brazil, and

expanded from there. He bought multiple properties around the world, including homes in the U.S. However, he ultimately decided to return to Nigeria to establish a business empire in his own country and elsewhere in the African continent, capitalizing on the emerging markets while concurrently creating many of his own ventures. Upon returning home, he used his financial clout to back the People's Democratic Party. After the PDP won the election, having shrewdly learned how to deal with the government through his tutelage from his grandfather and uncle, Dangote procured an agreement to build the largest cement factory in the world — with the caveat that the government would likewise limit Nigeria’s cement import trade. Upon sealing that agreement, Dangote had taken his internationally successful cement business, and became its only player in Nigeria, and it also became Dangote Cement’s launching point into the rest of Africa. He spent $1 billion building the mine and an airstrip/airport to service it. From its opening in 2008, the company’s profits skyrocketed.

visionary entrepreneur’s megacorporation, is headquartered in Lagos, Nigeria and operates in over 14 African countries, including Benin, Cameroon, Ghana, South Africa and Togo. Dangote’s success in his initial “trade triumvirate” — cement, sugar and flour — are noteworthy. As mentioned, his major player among the three is the publicly listed Dangote Cement, which operates throughout Africa, with a market cap of $24 billion, of which Dangote personally owns more than 90%. Similarly, the Dangote Group has evolved from its origins as a trading company to become the largest industrial group in Nigeria. For example, the Dangote Group dominates the sugar market in Nigeria (d.b.a. Dangote Sugar Refinery) as the major supplier to the country's soft drink firms, breweries and confectioners, with a market share of 70%. It’s the largest refinery in the entire continent and the third largest in the world, producing 800,000 tons of sugar annually. (That's a lot of chocolate!)

In the 1990s, Dangote asked the Central Bank of Nigeria to allow his transport company to manage their fleet of staff buses. Dangote continued to diversify his interests (no surprise there) into telecommunications and started building 14,000 kilometers of fiber optic cables to supply the entire country of Nigeria. As a result, Dangote was honored in January 2009 as the leading provider of Today the Dangote Group, the employment in the country’s 31 - MOIJACKSONVILLE.COM JULY 2014

This past April, Dangote announced he's investing in and creating a $9 billion oil refinery. construction industry. Along with its cement and sugar division, there is Dangote Flour and other major divisions. In July 2012, he approached the Nigerian Port Authority to lease an unused piece of land at the Apapa Port, whereupon he built new facilities for Dangote Flour. And he continues to expand his company’s already extensive portfolio to many other markets as well. The Dangote Group owns salt factories; it’s freight and transportation division imports fish, pasta, cement and fertilizer while exporting cotton, cashew nuts, cocoa, sesame seeds, and ginger to several countries. It also has major investments in real estate, banking, transport, textiles and gas. Dangote has astutely realized that Nigeria and Africa is a major source of resources needed throughout the world. One of the problems has been a less-than-ideal infrastructure to process these many commodities. By nearly single-handedly working to provide that infrastructure, Dangote will also be able to benefit from the cultivation, processing, distribution and sale of those resources as well. Currently, there are currently 18 subsidiary companies under the Dangote Group’s umbrella. Nonetheless, the indefatigable Dangote continues to expand his various ventures into other countries. Dangote Cement continues to evolve into new markets, slating $750 million for the creation of new plants. 32 - MOIJACKSONVILLE.COM JULY 2014

More significantly, Dangote has eyes on precious resources to build his considerable wealth, namely oil. This past April, Dangote announced he’s investing in and creating a $9 billion oil refinery, fertilizer and petrochemical complex in Nigeria. Skilled at dealing with the Nigerian government to forward his business ambitions, Dangote negotiated massive and unprecedented loans from Nigeria's banks, amassing over $3 billion in loan capital, at interest rates lower than what the government itself pays. Over the next five years, Dangote plans to use his considerable resources and acumen to revolutionize Nigeria's oil industry. While currently being the 13th largest producer of oil in the world, and the largest in Africa, the industry suffers from poor infrastructure and theft. Most of the government-operated refineries are rundown, inefficient, and often poorly managed. Hence, most of the oil Nigerians use is exported from oversees, a majority of it used for motor fuel. And, as the country’s wealth continues to expand (in a large part due to The Dangote Group’s numerous business ventures), automobiles are becoming more in demand. Dangote seeks to build a state-of-the- art, multi-billion dollar refining industry around Nigeria's most valuable sources of oil near Lagos. The refinery, upon completion, will provide hundreds of new jobs and will help to offset Nigeria’s dependence on oil imports. It will also significantly improve Nigeria’s growing economic standing. Sure, there’s been much speculation bandied about Russia and China emerging as oil and manufacturing superpowers. However, Dangote, with his ever-expanding ventures in cement, sugar, flour, telecommunications, sugar, salt, pasta, fertilizer, real estate, natural gas — and soon oil — is making a persuasive argument for Nigeria’s prospects in the “black gold” market. And, if successful, this venture would also elevate Dangote towards the pinnacle of being one of the world’s wealthiest businessmen. Primarily due to Dangote’s numerous business ventures, Nigeria has emerged as one of a handful of African countries that making a significant impact in the world of business and commerce today. Some have even gone so far as to describe

"The refinery will provide hundreds of new jobs ..."

it as an “economic superpower.” Not only has he almost single-handedly bolstered Nigeria’s economy via the expansive dealings of The Dangote Group, which now controls much of Nigeria's commodities trade, the altruistic entrepreneur is a firm believer in giving back to his country. Last March, he announced he was donating $1.2 billion to the foundation he established in 1994 foundation, mostly from his own cash reserves. He’ll also transfer shares from several of his listed companies to support initiatives in education, health and youth empowerment. Dangote’s Foundation also funds the construction of libraries for universities and hospitals across Nigeria. The Foundation also distributes very small grants, sometimes only $50-$80 to poor rural women and children with an entrepreneurial spirit. For someone living in Nigerian countryside, a start-up gift this small can help set up small business such as roadside catering, shoe repair, and similar cottage industry

businesses. In fact, Microsoft’s Bill Gates, who is close friends with Dangote, has joined hands with him on several projects to address poverty and disease in Africa. The Dangote Group is the largest industrial conglomerate in all of Africa. It has somewhere around 25,000 employees in Nigeria, as well as numerous and thousands of other personnel working throughout the continent. Over the years, Dangote has created so many new jobs in Nigeria alone, that he’s received multiple honors from Nigerian business associations as well as its government. In 2011, he was named the Grand Commander of the Order of the Niger, presented by the President of Nigeria. It’s the second-highest award that can be given to a Nigerian. *The Bloomberg index reported it as $9.2 billion.



Photo of Brian Taylor Courtesy of JAXPORT


BRIAN TAYLOR by Bruce A. Fouraker


As Mr. Taylor approaches his one-year anniversary at JAXPORT, some major goals have been accomplished."


rian aylor has recently taken over JAXPORT. Over the past three decades Mr. Taylor has shown excellence in stage of his career and his ability with numbers makes him an outstanding candidate for this position. JAXPORT has faced some rough going over the past five years; however, Masters of Industry believes that Brian Taylor is the man to lead JAXPORT forward into the Post Panamax era.

Brian W. Taylor joined JAXPORT as Chief Executive Officer (CEO) in July 2013. Mr. Taylor is a senior transportation leader with a track record of building high-performance teams and leading complex organizations. He began his maritime career with Sea-Land Service and went on to assume a variety of highprofile positions within the Horizon Lines network. Horizon Lines is one of the nation's leading domestic ocean shipping and integrated logistics companies. Most recently, Mr. Taylor was Senior Vice President of Sales and Operations for New Breed Logistics in High Point, North Carolina. Mr. Taylor has served around the world during his 30-year career and holds a Master of Business Administration in Economics and Financial Management from Concordia University in Montreal. Four weeks into his job as JAXPORT’s CEO Mr. Taylor said the port’s diverse business lines were a surprise to him and an asset that he would use to grow the ports business while pursuing deeper water. As Mr. Taylor approaches his one year anniversary at JAXPORT some major goals have been accomplished. The agency has sought federal funds to fix a navigational problem in its shipping channel and to deepen it from 40 feet to 47 feet to accommodate the larger Post-Panamax ships. The inclusion of both projects in the Federal Waterways Spending Bill and the groundbreaking for the Intermodal Transportation Center in New Berlin are major victories for the port. To use a military analogy, we have won some major skirmishes but have many more battles to go before the war is won. Mr. Taylor recently provided the JAXPORT board with following six principals that will guide the port’s development: 1. To develop near- and long-term plans that are operationally and financially compatible. “We don’t want to be spending money doing one thing today, than have to change when we get deep water five or six years from now,” he said. 2. Deliver a 47-foot shipping channel. Mr. Taylor said, “We need 47 feet in this port and we’ll do everything in our power to deliver that.” 3. Preserve the diversity of business scope. According to Mr. Taylor: “There are four lines of business


here [container, bulk, break-bulk and roll on/roll off (RO-RO) cargo]. Each of them contribute positively to the cash flow of this business and it is important that we maintain diversity in order to ensure that this business is successful." [Note: Containers are the metal boxes that you see stacked on the ships, hauled on semi-trailer trucks' chassis, or moving piggyback on railroad cars. Bulk is cargo such as sand, concrete, red clay, oil, natural gas or similarly shipped items. Break-bulk are items loaded by crane into the hold or onto the ship that are self-contained (a modular housing unit, a shipping crate or a locomotive might fit this category). Roll on/ roll off cargo is usually thought of as automobiles. For example, Crowley and some other lines actually load containers as RO-RO.] 4. Ensure that there plans for profitable business growth in the next three to five years. Mr. Taylor is emphatic that “we can’t sit here and wait for deep water. We have to grow this business today.” 5. Balance the interests of constituent groups. Connect with key initiatives focused on environmental stewardship. Mr. Taylor states, “We recognize the value of the river and the ocean. We also have to balance that with the commercial needs for growth in the region. We’ll be very careful about how we strike that balance.” 6. Operate in a fiscally responsible fashion and demand an equitable return on dollars we spend. Mr. Taylor says, "We are spending the public’s money; we have a responsibility to make sure that we spend those dollars responsibly.”

RO-RO cargo being unloaded/Photo from JAXPORT Website

MOI: What do you see as JAXPORT’s strengths and weaknesses? Brain Taylor: Certainly chief among our major strengths are our location, our premiere road and rail connections and the diversity of our business. If you consider that Jacksonville is located due south of Ohio making JAXPORT the most westerly port on the U.S. East Coast, you can see that a shipper wanting to move a product or part to or from a market anywhere in the southeast or mid-west can save transit time by using our port. And of course, time is money. As far as Florida is concerned, once a piece of cargo comes into JAXPORT it no longer has to travel north to travel west. Not all the ports in our vicinity can 36 - MOIJACKSONVILLE.COM JULY 2014

make that claim. When you add on the excellent interstate system and three railroads serving JAXPORT, you get the full package offering just what our industry demands: efficient and cost effective movement of cargo. We have other strengths worth mentioning: a deep and stable workforce, great partnerships with state and federal agencies such as the Florida Department of Transportation and the U.S. Army Corps of Engineers (USACE) as well as a supportive community. Our main challenge, one that we share with every port in the nation, is the huge cost of maintaining seaport facilities and equipment, And that’s just

maintaining the existing network ... Port growth projects, such as deepening the harbor or purchasing new cargo cranes, require additional capital. The return on investment in the port comes in the form of jobs and opportunities for the citizens, which we all need, so it is imperative we figure it out. MOI: Through your experience at Sea Land and Horizon, what specific improvements do you see that are needed for JAXPORT in handling containers? BT: The are a number of growth projects critical to our container handling business: Upgrading our docks, rail and equipment for the future; initiating a project to eliminate the navigational safety restriction at Mile Point and delivering a 47-foot shipping

MOI: Will these improvements provide 24 hour access to the JAXPORT? BT: Weather and other potential restrictions can always play a role in channel access, but it is our intention to deliver ship access 24 hours a day, each and every day. Eliminating the tidal restrictions, currently limiting large vessels to four-hour windows twice a day, will be a major improvement in efficiency and should help us immediately grow our volumes. MOI: What steps will be taken when JAXPORT dredges to 47 feet to make certain that Mile Point does not again become an issue for the larger ships? BT: Once the area has been reconfigured through the construction project, the restriction should be totally eliminated. Of course, proper maintenance dredging at the 47 foot depth will always be required but that is not related to the current Mile Point restriction.

"Business diversity is one of our strengths and we are committed to preserving this diversity. " channel so we can fully accommodate the new generation of container ships that are already calling on the East Coast. MOI: The terminal at Blount Island seems to have a lot potential container space taken up by automobiles; is there space further upstream for the automobile carriers to dock? Will there be any giant post Panamax Vehicle Carriers? BT: While we can never predict the future, the automobile-carrying ships - we call them RO-RO vessels. In port ling, that means "roll-on, roll off" cargo. Basically anything that has wheels and rolls on and off ships - do not need the depth that the larger container ships demand when they are fully loaded. Properly allocating use of our assets to maximize the benefits of each square inch, that’s what we will be doing with the road map set out in our soon-to-bereleased strategic master plan. As I mentioned earlier, business diversity is one of our strengths and we are committed to preserving this diversity and that means we must ensure that our Ro/Ro and container businesses have the space and resources needed to grow. MOI: What is the completion date set for jetty work and the dredging being done at Mile Point? BT: The target date for completion is 2015.

MOI: There is some controversy involved in dredging the St. Johns River; are you confident that the USACE Environmental Assessment studies were not rushed? BT: I have personally met with the U.S. Army Corps representatives engaged in the harbor deepening study and I find them to be dedicated and passionate professionals intent on delivering an unassailable work product. The president’s “We Can’t Wait” initiative has required that they streamline the process but that simply means taking some steps concurrently rather than consecutively. There’s always room in every process for improvement. Also, the Corps has proven to be quite flexible, extending the period for public comment whenever possible. I know they have pledged in good faith to allow full review and discussion of the study findings as is appropriate for a project of such importance. MOI: If there proves to more salinity upon completion of the dredging is JAXPORT prepared to take additional steps beyond the USACE’s recommendations to mitigate the additional salt water intrusion into the river? BT: The Corps is responsible for the design and implementation of any mitigation projects related to the deepening. Currently we understand that they are adding a monitoring component to the mitigation plan that will provide early alert of any variation from their modeling. If you have further questions on this, I certainly invite you to call on their environmental engineers for information. 37 - MOIJACKSONVILLE.COM JULY 2014

"There is a balance between environmental stewardship and the creation of economic good ... " I have stated before that all of us at the port care deeply about the health of the river. We all live here and enjoy the same activities--fishing, boating, and kayaking--that add so greatly to the quality of life in Northeast Florida. A vibrant river is essential to our success today and in the future. At the same time, JAXPORT has a mission chartered by the state, and that is to maximize the use of our public seaport facilities to create jobs and opportunity for the citizens. There is a balance between environmental stewardship and the creation of economic good and we are all smart enough in 2013 to strike that balance. MOI: The "Florida Times-Union" keeps mentioning a local financing amount of $384 million (give or take a few million, as they seem to change the number from day to day). In a recent talk to the Southside Businessmen’s Club, Lake Ray stated that of the $288 million that the State of Florida designated for ports in 2013/2014, an estimated $98 million is going to JAXPORT. Over the next five years do you see the state as providing a majority of the $384 million in local funds needed to reach the 47 foot goal? BT: In the last few years the governor and political leadership of the state have been incredibly supportive and visionary when it has come to funding port projects in Florida. I certainly believe the state will play an important role in helping us deliver a 47-foot shipping channel but funding such a large scale effort will take careful planning. JAXPORT received a major boost when the recent authorization of the Mile Point Project and the inclusion of dredging JAXPORT to 47 feet as a part of the Water Resource and Development Act passed both Chambers of Congress and was 38 - MOIJACKSONVILLE.COM JULY 2014

signed into law by President Obama. As we keep this project on track and moving forward, we now begin to concentrate on the state and local funding. MOI: A recent article in the Jacksonville Business Journal stated that the failure this year of the Congress to include the authorization for deepening JAXPORT to the 45- to 50-foot level means that Tra-Pac may have to divert ships elsewhere. The article implies that this could result in the closing of terminal with the resultant loss of jobs. What actions are needed to keep this terminal open and to ensure these jobs stay in Jacksonville? How can the readers of MOI help JAXPORT in this important issue? BT: With the inclusion of both Mile Point and the JAXPORT deepening in the Waterways Act, after this question was submitted, we have taken a major step forward. It is up to the members of the community to make certain that we do not lose this momentum. Now that these projects are authorized, we can continue to move forward using state and local funding. Please, contact your legislative representative and let them know the importance of funding and moving forward with these projects during 2014/2015. The Waterways Act has placed JAXPORT back on a level playing field with Savannah; we now need help from Florida’s legislature and the governor’s office to maintain this competitiveness. MOI: Our magazine caters to people who own small- and medium-sized businesses who wants to grow their business. Many could grow either through utilizing imports and/or exports. What types of seminars and workshops are available to guide the small business person through this process? BT: Many of our partner agencies such as the U.S. Commercial Service and Small Business Administration offer classes and workshops connecting small business owners with opportunities in importing/exporting. We do community outreach programs as well through the year, so I would send your readers to jaxport.com for more. MOI: The Jacksonville Community Council Incorporated just completed its 2013 Report on the vision and roadmap to reach JAX2025. Under the Hub of Smooth Transportation Section, is the question: "Are we growing as a logistics hub?" This question was measured by JAXPORT tonnage and JAXPORT containers.

Unfortunately the 2013 Report does not mention passengers. Where do you see JAXPORT in 2025 in terms of bulk tonnage, RO-RO cargo, containers (TEU’s) handled and finally, do you see a major passenger terminal? BT: Once we deliver a 47-foot channel, remove the navigational issue at Mile Point and complete our revitalization of docks, rail and equipment we will have created the opportunity to grow our container volumes exponentially. Becoming a bigger player in this segment also supports the growth of our diversified lines of business. Industry trends such as increased manufacturing in Southeast Asia, which has spurred increased use of the Suez Canal, as well as the opening of expanded locks at the Panama Canal, will increase the frequency of larger vessels calling on East Coast ports and this will increase of availability of cargo to attract through JAXPORT. Make no mistake though, it’s going to take aggressive marketing and follow through to ensure that the opportunity for Northeast Florida turns into reality.

" ... there are 65,000 direct and indirect jobs supported by port activities resulting in about $19 billion annual economic impact to the region." As far as a cruise passenger terminal, the return on investment will have to be there. Our strategic plan will address the ideal situations for investment in a new terminal and will help guide our decision making. MOI: Including all of the ports tenants, currently where does JAXPORT stand in terms of bulk, RO-RO, TEU’s and passengers? BT: Here’s a link to our 2012 annual report: http://www.jaxport.com/sites/default/files/docs/ anreport-2012.pdf

figures as soon as they're audited and complete. It looks like we're growing in some areas and holding steady in others. MOI: On the issue of passengers, most of the community feels that a terminal in Mayport is best and is a win/win for both JAXPORT and the Mayport Community; what is JAXPORT'S current stance on locating a terminal in Mayport? BT: JAXPORT has recently renewed our contract with Carnival Cruise Lines. We are glad to have the continued presence of Carnival. The major restriction in our cruise business is the 176-foot air draft created by the Dames Point Bridge and the JEA power lines. If the cruise business is allowed to continue with its natural growth we can expect about 975,000 passengers by the 2032/33. However, this is contingent on ships with taller air drafts gaining access. These issues are outlined in our strategic plan and will be addressed. [Writer’s note: The JEA lines can be raised at a cost of several million dollars or buried about 100 feet below the riverbed for about $75 million. Michael Brost, Vice President and General Manager at JEA, explained the reason for the high cost of going under the channel is that a substation would have to be built where the lines enter and exit the conduits.] MOI: What economic impact does JAXPORT currently have on Jacksonville and Northeast Florida? BT: The most recent economic impact study we have, completed in 2009, says that there are 65,000 direct and indirect jobs supported by port activities resulting in about $19 billion annual economic impact to the region. MOI: How will deepening the harbor to 47 feet to just west of Dames Point impact the economies of Jacksonville and Northeast Florida? BT: Deepening to 47 feet will offer us the opportunity to support tens of thousands of additional jobs within two decades and also the opportunity to generate additional business revenues every year following completion of the project. That additional revenue figure is projected to reach $840 million a year by 2035 and continue to grow after that.

Our 2013 fiscal year just ended on Sept. 30th aOur 2013 fiscal year just ended September 30th and we'll be putting out new volumes and



Jack Jack Ma:Ma: Chinese TheThe Chinese markZuckerberg markZuckerberg BY Kaela Amaral

Visionary Internet entrepreneur is nearly single-handedly responsible for bringing China online and creating its growing e-commerce


he story of Jack Ma, founder of the Chinese B2B e-commerce website Alibaba.com, is a truly remarkable one. He took a vision from his living room into a multi-billion dollar enterprise. As the title of this article points out, He is truly the Chinese Mark Zuckerberg, the founder of Facebook. Ma was born in Hangzhou, China in 1964. He was born into an average Chinese family and lived a normal Chinese life. His interest was sparked in learning English when he was about 12, and he began teaching himself the language. He rode his bike for miles every day to a hotel popular to foreign When China was tourists so that he could act as a free tour connected to the guide and practice his English. Talking with Internet for the first foreigners exposed Ma to other cultures and time, he invited friends began opening his mind to the world outside of China. over to his house He attended the Hangzhou Teacher’s to show them the University once he finally passed the entrance Internet. exam after failing it twice, and had hopes of becoming a high school English teacher. He taught English at a university for a short time, but then wanted to break into the job market. He applied for many jobs without success, but then one fateful day in 1995, the seed was planted for the vision of Ma’s future. Ma traveled to Seattle as an interpreter for a trade delegation, 40 - MOIJACKSONVILLE.COM JULY 2014


Photo credit: http://en.wikipedia.org/wiki/Jack_Ma

and a friend showed him the internet for the first time. Ma was blown away. He and his friend searched the word “beer” and “China” and found that there was no information for China. Borrowing $2,000 to start the company, he and his friend launched China Pages, an online Chinese translation and interpretation service. It gained traction quickly and after two years, Ma was offered $185,000 to team up with his biggest competitor in a joint venture. When this didn’t work out, he was offered a job to run a government group designed to promote e-commerce, sparking his vision of starting his own e-commerce site. While working for China’s Ministry of Foreign Trade and Economic Cooperation, Ma was assigned to take the Yahoo founder, Jerry Yang, for a tour. Little did Ma know, he would one day be shaking hands with Jerry Yang again. When China was connected to the internet for the first time, he invited friends over to his house to show them the internet. They waited 3 ½ hours for one half of a page to load, but nevertheless, he had proved that the Internet exists. In that very same living

room, Ma pitched his idea for a B2B e-commerce website to 18 people for two hours. At the end of his presentation, everyone threw their money on the table, giving Ma $60,000 to start Alibaba.com With those meager beginnings, Ma started Alibaba.com in 1999, a B2B portal connecting Chinese manufacturers with overseas buyers. Over the past decade and a half, Alibaba.com has become the Alibaba Group and now boasts not only a business-to-business portal, but also a C2C portal, similar to eBay; online retail and payment services, a shopping search engine, and data-centric cloud computing services. Alibaba.com also maintains a Chinese portal, 1688.com, which connects domestic manufacturers and buyers within China. Just last year, 1688.com launched a direct channel that hosted over $30 million in online transactions. Alibaba.com also offers a transaction-based retail website with allows smaller buyers to purchase small quantities of goods at wholesale prices. This section of Alibaba.com is called AliExpress.com. Taobao is the name of Alibaba’s C2C e-commerce platform. Last year it was the third most visited website 41 - MOIJACKSONVILLE.COM JULY 2014

in China. Taobao's growth was attributed to offering free registration and commission-free transactions using a free third-party payment platform. The most recent big news for Alibaba Group is that it has filed its initial public offering in the United States, which will most likely first debut in a couple years’ time. The company is estimated to be worth between $150 and $250 billion dollars, which puts it on the same level as Facebook, Oracle and IBM. This also makes Alibaba Group’s IPO in the U.S. potentially the largest in history. The very same Yahoo founder, Jerry Yang, who was given a tour by Jack Ma

interview with "Bloomberg Businessweek." “We want to build up a company in Chinese history that nobody has seen before.” Less eBay, more Amazon. In the first three months of the year, Ma has been extremely busy making deals on behalf of Alibab Group. Many of these deals, but not all, of them are aimed squarely at rival Tencent, currently considered Asia’s largest Internet company. Earlier this month, Alibaba announced it would spend $804 million to take a controlling stake in ChinaVision Media, a Hong Kong-listed company that, among other things, owns the Chinese rights for mobile TV broadcasts of English Premier League soccer. This deal is a very smart move for Ma and Alibaba Group for more reasons than one: It gives Alibaba a massive library of movies, TV shows, and sports broadcasts, while keeping that programming out of Tencent’s hands. Ma has also been investing in and developing gaming and instant messaging sectors of Alibaba. These two components of the site were not a part of Ma’s vision for Alibaba until last year. Ma has also announced plans to gain ownership of China’s biggest mobile mapping service. Auto-Navi, a Beijing-based company, is already 28.3% owned by Alibaba, and now the everambitious Jack Ma has offered to buy the rest of the company. Alibaba went from Ma’s living room to a multibillion dollar enterprise. Jack Ma has won many awards for his entrepreneurial success. World Economic Forum selected Ma for “Young Global Leader” in 2005, and in the year before he was named one of the “Top 10 Business Leaders in the World” by China Central Television and its viewers. In 2007, "Businessweek" named him “Business person of the Year,” making him a contender with Steve Jobs, Bill Gates, and Mark Zuckerberg for one of the most successful entrepreneurs in the technology industry. What distinguishes Ma from the other big names in his field is that he did not have any background in computers before he began his endeavors. He was simply blessed with a business mind, and when he was introduced to the internet, he seized the opportunity that he saw, truly making him the Chinese Mark Zukerberg.

"Despite creating his fortune and legacy through the internet, Jack Ma is actually not very tech savvy." before the days of Alibaba.com, invested $1 billion into Alibaba Group several years after that fateful first meeting with Jack Ma. Alibaba recently bought those shares back, and that investment proved lucrative and beneficial to both Yahoo and Alibaba Group. Despite creating his fortune and legacy through the internet, Jack Ma is actually not very tech savvy. He concedes that he knows little more than how to send and receive emails and doesn’t know how to code. Just because he doesn’t know how computers work doesn’t mean he can’t see the potential of the internet. In spite of his technological faults, Jack Ma is clearly learning the game quickly and is doing something right. Alibaba has done nothing but grow in the past few years. Jack Ma and his team are moving quickly and swiftly to solidify Alibaba’s position as a global industry leader with a broad reach in China’s growing entrepreneurial economy. “This company in the next five years will be totally different,” Ma said in a 2012




The New Face of the Market

BY Kaela Amaral


he invention of the Internet changed the face of commercial marketing forever. Never before has it ever been so easy to reach so many potential consumers. Likewise, though, never before has it been so easy to be drowned out by your competition.

On the Internet, a company is competing for monopoly on a global scale. No longer does business competition end at the county line. Now companies can battle each other for revenue from opposing hemispheres and time zones. The rapid expansion of the global market calls for certain qualities to be present in internet marketing if it is to be effective.


Internet marketing is advantageous over traditional advertising for multiple reasons" Internet marketing is advantageous over traditional advertising for multiple reasons. Advertising online is not limited by time and runs continuously. When taking this fact into consideration, it becomes generally cheaper than printed ads or prime-time TV ads. At any given time there is a much larger audience to online advertisements than any other kind. 45 - MOIJACKSONVILLE.COM JULY 2014

The most important thing to know about Internet marketing is that content is king. Nothing is more effective than good content in your advertisements. Consumers are bombarded with ads online screaming at them to “Buy Now!” and that “Supplies are limited!” and that they will “Save More!” It doesn’t take long for people to start automatically blocking out these types of advertisements and ignoring them all together. Consumers know that ads of this nature are usually fraudulent and therefore even when legitimate ads echo this marketing style they get ignored.

Making your product a top hit on a search engine site is one of the best ways to effectively advertise on the internet.

The message in an online ad needs to be focused on a specific audience. It is impractical to try and target the whole world as potential consumers of your product. A message aimed at everyone will usually reach no one. If you focus on your main target audience, then you will get a better response to your advertisements than if you try to target everyone. Then, if you sell a quality product or service, the new customers you gained through your effective internet marketing will become repeat customers, which is what makes or breaks any business. No company can survive off of first-time customers. You have to keep your patrons coming back. Before they start coming back though, they have to come the first time, which is where effective internet marketing can help you. Making your product a top hit on a search engine site is one of the best ways to effectively advertise on the internet. Users searching with keywords are actively looking for information. This fact alone means that your advertisement won’t immediately become just another nuisance in today’s buzzing world of mass media. Don’t hesitate to give your consumers lots of information on your product or service before they even begin the ordering process. A big part of advertising is gaining your audience’s trust. They need to believe that your message is genuine and that your product and service is of good quality. A good venue for internet marketing is social media. Consumers are more comfortable in the realms of Facebook, LinkedIn, Twitter and Instagram than out in the middle of nowhere on the open internet, so take advantage of your audience’s comfort zone. They are more likely to read your content with less skepticism, and also will feel more confident in their ability to spot fraudulence in a familiar environment. Businesses that are all about the sale don’t tend to stay in business for very long. Be sure your internet marketing sends a message that goes beyond “Buy Now!” and stands out against the crowd as a trustworthy source of a quality product built on ethics and good business, and you should do just fine in the world of online advertising.




Savitri Jindal became NonExecutive Chairperson of Jindal Steel & Power Limited and the richest woman in India."


ndia is both the country with the fastest growing economy and the country with the highest concentration of people living below the World Bank’s international poverty line. More than half of the children in the entire country are underweight, anemic and suffer from chronic malnutrition. The Indian states most plagued by these kinds of ailments are Madhya Pradesh, Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Jharkand, Karnataka, and Uttar Pradesh. Savitri Jindal, a woman in a position to help the poor people of India, has always taken a special interest in Haryana, serving in its government more than once, and currently serving as Cabinet Minister of the Haryana government after being sworn in October 29, 2013. As the result of a tragic helicopter crash in 2005 that killed her husband, Om Prakash Jindal, she became the NonExecutive Chairperson of Jindal Steel &

Savitri JIndal:

Photo credit: thenewstrack.com/top-10-richest-people-in-india-2014

By Kaela Amaral

Triumph Through Tragedy


Power Limited, and the richest woman in India. O.P. Jindal was the founder of the Jindal Group. As a mother of nine children with a net worth of over $4 billion, she also earns the distinction of having more children than any other female billionaire in the world. The steel baronness made her modest beginnings in Tinsukia, Assam, born to a conservative family in 1950. She lived the life of a traditional Indian woman, and in 1970, married Om Prakash Jindal. O.P. Jindal established the Jindal Group in 1969, and grew it into a steel and power conglomerate worth billions. O.P. Jindal was one of India’s greatest uninstructed engineers, according to his biographer Anil Dharker. He often would design most of the machines at his factories himself. It is this engineering acumen that helped him set up a vast industrial empire within a few years. Jindal set up factories across India, including Jindal Ferro Alloys in Visakhapatnam and an integrated steel project in Chhattisgarh (then Madhya Pradesh). Savitri Jindal is the epitome of a traditional Indian woman. When her husband was still alive, she never stepped out of the house, and didn’t even so much as ask how much money he made. She was completely content playing the role of wife and mother, taking care of the household and her family. “In our family, women do not venture out. We remain in charge of the house while the men take care of everything outside,” she says. She dresses modestly and traditionally, with a simple saree draped about her small frame most of the time. She seems happiest and most at ease when talking about her children and late husband. She never became absorbed in the wealth earned by her husband. Her glass and concrete home in Delhi bears none of the trappings of wealth. Since her husband’s death, though, Jindal has been thrust into the public eye and has had to deal directly with the outside world more than she ever has before. She inherited her husband’s shareholding within each company within the Jindal Group, and became Non-executive Chairperson of Jindal Steel & Power Limited over-night upon the death of her husband. Before his death though, O.P. Jindal devised a business structure in which his four sons, Prithviraj, Sajjan, Ratan and Naveen, would each hold one fifth of the promoter shareholding of each company in the Jindal Group, and he would hold another. This meant that each son would be in charge of his own slice of the empire, but would also have a share in his brothers’ 48 - MOIJACKSONVILLE.COM JULY 2014

"When her husband was still alive, she never stepped out of the house, and didn’t even so much as ask how much money he made." businesses as well. Today, this structure has held strong as the four sons are, in fact, the ones who run the businesses in practice while their mother is the matriarch and figure-head that binds the family together. "Jindal sahab had ensured that our sons had independent domains but stayed together as a family," Savitri Jindal says. "Even today they are independent and do not interfere in ... However, if one of them starts a new project or has a problem, the brothers sit together and talk about it." This same philosophy extended further to the home that O.P. Jindal built in Delhi, which consists of four separate quarters all connected with a shared common kitchen. The four sons and their families all live in the same house, but have their own separate quarters. Ms. Jindal has continued her husband’s legacy for caring for the communities around their business. She believes that business priorities should be aligned with meaningful social intervention. This creates sustained value around the plants and factories of the Jindal Group. She is quoted as saying, “We have a tradition that whenever we set up a factory, we set up a school and a hospital.” Her husband believed that factory employees should be treated like extended family, and Ms. Jindal has made sure to perpetuate this

idea. She once stated, “It is the basic philosophy of JSPL that the community in the periphery area of JSPL plants should grow along with us. I am sure the efforts taken up by JSPL will definitely help in improving quality of life of people in the periphery on a sustainable basis.” Ms. Jindal does more than just sit on the board of the Jindal Group, run by her four sons who also inherited assets in her husband’s death. She has served as chairperson for a number of organizations, and currently serves as Minister for Urban Development and Housing for the State of Haryana. Before taking on this role, she served as Minister of Power in the government of Haryana and is currently a member of the Haryana Vidhan Sebha, the legislative assembly. She upholds her and her late husband’s promises to take care of her community in more ways than one. One of the schools founded by the Jindal Group is the Vidya Devi Jindal School for Girls, established in 1984. It is a boarding school for young girls, and is known for catering to the

wealthy because of its private location and the many activities offered. They have established other schools as well that lend themselves to a wider demographic. In recent news, Savitri Jindal made an appearance this month to inaugurate the 810 MW Captive Power Plant. She dedicated the Savitri Jindal private airstrip to the service of the nation with one of her sons and grandson by her side. She announced how pleased she was that JSPL has adopted such environmentally friendly methods and that its Coal Gasification-DRI Route will be the first of its kind in the world. Savitri Jindal may have come into her fortune through tragedy, but she has carried the title of 80th richest person in the world with grace and poise nevertheless. And has successfully honored her late husband’s philanthropic philosophies surrounding his business practices, making her a truly remarkable member of the global community.


Starting a Business? By Kaela Amaral


tarting your own business is an exciting thing, which can also be terrifying and overwhelming. It starts with a great idea, which turns into a vision, which usually leads to a few questions that lead to a few more questions and pretty soon all you have are a bunch of questions that you don’t even know how to start answering. The world of the free market is a complicated and ruthless place, and if you go in unprepared, you won’t come out in good condition.

Financial Assessment The most critical component of starting a business resides in determining your budgetary needs before you open for business. Of course, you most likely won’t be able to estimate your exact budget to the dollar before you spend some time doing business, but creating a detailed hypothetical budget will help get you as close as possible to the real thing before it’s time to do real business.

The first thing you need to determine are your start-up costs. Estimating your costs for the first three months of business and ensuring that you have the funds for at least this amount of time should get you off to a stable start that can be sustained thereafter. Getting started is always the most expensive part of doing business. There will be a combination of one-time expenses that are unique to the first beginnings of your business and on-going expenses that will need to


begin before you open up but will be continuously a part of your working budget. One-time start-up costs might include equipment, furniture, renovations, and smaller details like printing logos, signs, menus, etc. There will also be fees for any and all licenses and registrations you need to obtain to legally run your business. You will also need to purchase all of the stock and inventory of any products you plan to sell. Once you start doing business, you will start producing revenue which will allow you to keep your inventory up, but at the beginning you need to The first thing you need spend that money before you earn it back. to determine are your

start-up costs.

Ongoing costs will be things like rent, utilities, inventory, and paying employees. These are costs that you will have the entire time you are in business, but of course, they start as soon as you open. Therefore you must make sure you start out with enough money in-hand to pay for all of this for at least the first three months. Creating an effective budget, especially one including start-up costs, will require that you do lots of research before opening for business. Determine all materials and supplies you will need, how much, and what it will cost. Round-up your estimates to be on the safe side, and leave yourself some extra room in the budget for unforeseen expenses. Market Research Once you have your start-up money secured, you can start researching what licenses and registrations you will need to legally run your business. These may vary depending on your city, county and state. You also need to find a suitable location if your business is not going to be solely online. Starting a business mostly consists of forethought and preparation. There are online resources to help those thinking of starting a business, and consulting services out there to help you start out on the right foot if you find it too overwhelming to do on your own. If you put your heart behind your work and dedicate your focus and attention on sustainable business, you can grow a lasting and successful business out of what was once just a “start-up.�


EXECUTIVE circle ETHELBERT Nwanegbo by Bruce A. Fouraker

photo credit: http://sabitia.net

In the future, this column will profile two Chief Executive Officers (CEOs) on a regular basis. The column will look at CEOs’ thoughts on business strategies and will give a brief glimpse at their lives outside their businesses. This month, however, it’s only featuring one CEO, "MOI Magazine Jacksonville" publisher, Ethelbert Nwanegbo. Masters of Industry: What work habits have contributed to your success? Ethelbert Nwanegbo: Knowing my schedule and when to come into the office is very important. Coming in before the other employees and taking that time to get things done crucial. Also, scheduling my day; making sure that I stick to things I plan to get done and getting them done is important. I like to check boxes. MOI: What was your biggest mistake in business and how did you fix it? EN: That would be becoming personally attached to my investments. I used to make investment decisions based on emotions. I quickly learned the pitfalls of being attached to an investment. If you let your feelings cloud your investment decisions, it can be the kind of move that will take you down financially and drain you emotionally. The most important lesson I learned was that in making an investment decision, you must be logical. It is important to do your “homework before investing” and to know when 52 - MOIJACKSONVILLE.COM JULY 2014

to invest and when to sell. Both of the decisions should be rational. MOI: How do you manage people? EN: First and foremost, I lead by example. I also take into consideration the cultural differences of my employees. Another factor is the individual. If I have two people who are from the same culture and are the same gender, there are still differences and these must be taken into account. You also need to know when to give people direction and when to allow them their space. If you micromanage people, you can destroy initiative and discourage the valuable feedback that employees can provide. MOI: How do you motivate your employees? EN: Financial reward is important; however, there are many other aspects to motivation that can matter more. It is important my employees understand the business plan and why their role on our team is important. It is important I share our companies’ vision(s). By communicating with our

staff, I am sharing information and letting them know they are important enough to be aware of the big picture and not just their assigned tasks. My employees are given a clear understanding that as our business grows, likewise their opportunities will grow along with it. MOI: What is your advice to young entrepreneurs just starting out? EN: Owning a business goes far beyond knowing a specific craft. It’s partially an art and partially a science. Before you venture out, you have to understand the dynamics of the business you’re going into. That includes knowing your customers, what products and

look at the fact America has over 300 million people, he truly beat the odds in becoming president. I also admire Nelson Mandela. He was willing to serve time in prison for trying to bring freedom to all South Africans. Later, as the president of South Africa, he spoke out in favor of freedom for everyone throughout the world. I admire Steve Jobs. It takes a lot to lead a corporation, to plan products, and give people what they need. This is particularly difficult in the area of software and electronics because people often do not realize they need the latest innovation. MOI: Who were some of your role models when you were growing up? EN: My aunt and my mother. My dad died when I was seven so I didn’t have him as a role model to look up to. My godfather served as my male role model. People that were instrumental in my success were my teachers who gave me faith to push on when I thought about quitting.

"The person I most admire is President Obama." services they buy, and knowing how they make that buying decision. Understand the product you’re trying to sell. Ask yourself, “Is there is a market for the product?” And “What creates the market for this product?” Knowing the economic dynamics that will affect the product in the future is very important. You must do your homework before you start. Take the time to research your type of business and be sure you have a clear understanding of the industry. After you understand the industry, you can then map out your business plan. MOI: Who is the person or people whom you admire most and why? EN: The person I most admire is President Obama. I admire him for his faith. I admire that he knew at a young age that he was going to become president and pursued his dream. He should be admired as being one of only 44 Americans who have been elected president since the Constitution was ratified. When you

MOI: What are your interests outside of work? EN: My life today is an embodiment of my family and faith. Faith is extremely important to me. I put my faith in God as number one, my family next, and then my business is a strong third. MOI: How do you relax? EN: I have interesting ways of relaxing. For fun, I like to bowl, run, play soccer, shoot pool and while I have not played golf in a while, I love to golf as well. I do love music and I love to sing in choir, though I haven’t done so in a while. I do love to relax, though I don’t spend as much time as I should doing it. While I try to lead a balanced life, I’m very passionate about my work and work very hard because of it. Writer’s Note: Mr. Nwanegbo is an example of someone who is living the American Dream. He came to the United States just over a decade ago. He now has a thriving consulting business and a growing publishing business with a plan to reach 50 markets within five years.




Duncan Bannatyne

Tenacious Scottish Entrepreneur and Award-Winning Philanthropist

By Robert Kaye

Photo credit: http://petedadds.com/i-portfolio

uncan Bannatyne hails from Scotland, where he was born in 1949; the UK and rest of Europe was still recovering from the devastation of WWII. Bannatyne came from humble beginnings, yet at an early age, demonstrated a proclivity towards entrepreneurism and a “go-for-it” instinct. Since his parents couldn’t afford to buy him a bicycle, he contacted the local newspaper, which replied it needed a list of 100 potential delivery customers. Bannatyne gave them the list; the newspaper gave him the bike.


While still in his mid-teens, in 1964 (the year the Beatles “invaded” America), Bannatyne joined the Royal Navy. He served in the force for 12 years but received a dishonorable discharge and even served time in military brig and civilian jail for threatening to throw an officer off ship. 55 - MOIJACKSONVILLE.COM JULY 2014

Following that altercation, during most of his 20s, Bannatyne had several different jobs, among them, an agricultural vehicle fitter where he repaired tractors in various parts of the country. He moved to the island of Jersey in’74, and obtained a Larger Goods Vehicle (LGV) license, which allowed to him drive the UK/European equivalent of our tractor-trailers. He also dabbled with being a deckchair attendant and hospital porter.

Bannatyne also invested and scored big in other areas such as bars and pubs (ever so popular in the UK), hotels, property, transportation, media and performing arts schools ...

Nearly ten years later, with not much to show for his vagabond-like business ventures, Bannatyne moved with his new wife from Jersey to Stockton-on-Tees in Northeast England. It was here he tasted his first real business success as an ice cream vendor. Bannatyne purchased an ice cream van for just £450, serving ice cream during the period of the not-so-smooth-as-vanilla Glasgow chain of health clubs currently operating in the UK. Ice Cream Wars. Like many other drivers, Bannatyne was injured and hospitalized while The entrepreneur-sighted Bannatyne also invested and scored big in other areas such as bars and pubs (ever so trying to make his rounds. popular in the UK), hotels, property, transportation, media and Nonetheless, his tenacity proved fortuitous. performing arts schools … just to name a few. He expanded his business, buying more vans, and eventually sold it for £28,000. Talk Despite being cited in his grammar school years as not being very good at English, excelling instead in arithmetic, Bannatyne, about getting your just deserts. became a monthly columnist for “Business Matters, which is From there, Bannatyne founded Quality Care one of the UK’s most well-read business publications.

Homes, which he later sold in 1996 for £26 million and in 1997, a children’s nursery Similarly, he also authored several books. “Anyone Can Do It” sold more than 200,000 copies. “Wake Up and Change Your chain, Just Learning for £22 million. Life,” and “How to be Smart with Your Money” both topped The ambitious and now wealthy Bannatyne the “Sunday Telegraph” best-selling book list. “How to Be then set his sights on building and acquiring Smart with Your Time,” discusses essential time-management health clubs seeking to create a successful techniques and tools. His fifth how-to book, “43 Mistakes chain of them throughout the UK. In 2006, Business Make,” also geared for business owners, explains Bannatyne added 26 more health clubs, how to eliminate and avoid errors and unintentional mistakes. purchasing them from Hilton Hotels for a £92 million. Able to throw his considerable business weight around, in 2008, despite the fact the UK was experiencing a credit crunch, Bannatyne opened a £12,000,000 Spa Hotel in Hastings. Two years later, he acquired and expanded the prestigious Charlton House Hotel and Spa, thus solidifying Bannatyne Fitness Chain as the largest independent 56 - MOIJACKSONVILLE.COM JULY 2014

From print, it was on to TV. As far as the being in the radiance of the limelight, Bannatyne is most famous for his appearances as a “business angel” investor on the hit BBC entrepreneurship program, “Dragon’s Den.” Now in its 10th season, Bannatyne has invested millions of pounds in new businesses since the show’s inception. For example, he’s personally invested in and helped create several companies featured on the program, including Bannatyne Music Limited, a UK-based artist development and recording company; Blinds in a Box,

which sells inexpensive, temporary blinds that are easy to install and require no tools; Chocbox, a patented covering to protect and insulate electrical connections; Kristy’s, which creates high quality, allergen-free meals and foodstuffs; and Razzamatazz Theatre Schools, which offers exceptional training in the performance arts for children. Bannatyne penned his sixth book centered on the series, entitled, “Dragon’s Den: Success From Pitch to Profit.” Bannatyne’s altruistic efforts have supported numerous causes, especially those for children, which eventually led to him being awarded the Order of the British Empire. For over a decade, his Bannatyne Foundation helped youngsters in Romania, most ostensibly with the creation of Casa Bannatyne, a hospice for orphans with HIV and AIDS in which he invested £80,000. In March 2008, he established the Bannatyne Charitable Foundation with a personal injection of £1,000,000. In fact, Bannatyne stated he intended to give away most of his then £300 million fortune to charity before he died. Just three months later, Bannatyne added his support to the launch of the House of Commons’ Geared for Giving Campaign, which encouraged UK business leaders to set up and promote a workplace donation program to benefit registered charities with tax effective donations through employees’ volunteer donations. He then helped to promote several UK banks’ marketing campaigns to promote the campaign via their ATMs. In addition to being a strong supporter of Comic Relief (where he serves as a trustee) and UNICEF, where he’s supported projects in Ethiopia, Malawi in Africa and in Columbia, South America and a project in Glasgow’s Easterhouse. In August 2010, he agreed to become Patron of PC David Rathband's Blue Lamp Foundation, a charity established by the Northumbria Police Constable David Rathband, who was irrevocably injured by gun blast wounds. Along with becoming OBE, Bannatyne was also awarded an honorary Doctorate of Science (D.Sc.) by Glasgow Caledonian University for services to business and charity. He was also awarded an honorary Doctorate of Business Administration (DBA) from Teesside University. Bannatyne’s once idyllic life began to unravel over the past four years or so. Consequently, his latest book is remarkably different from the six he penned in more advantageous times, back when

In March 2008, he established the Bannatyne Charitable Foundation with a personal injection of £1,000,000. the “Sunday Times” Rich List cited his net worth of £430 million in 2010. Following a costly, contentious divorce and becoming embroiled in a battle to pay off £122 million of debts in 2013, Bannatyne dropped off the Rich List. Entitled “Riding the Storm: My Journey to the Brink and Back,” Bannatyne candidly discusses his continued comeback from recent personal problems (his divorce and health issues) and several financial struggles. These include the impact of UK’s last recession, which caused a precipitous drop in property values in 2011 for Bannatyne Fitness, causing a £16.2 million loss after exceptional oneoff write downs, as well as the demand to pay off debts he once borrowed from the now-collapsed Anglo Irish Bank. Interesting factoid: Often described as having a fiery personality both off- and on-camera (his role on “Dragon’s Den” indicative of the latter), Bannatyne is a vehement anti-smoking campaigner, who even became the President of UK’s No Smoking Day initiative in 2008.



, ople e p ng f. wro he staf r e h t t fo with ion" on ooking k c l los stu s, ing zo exp ht hire e t b rig bo an en s. thm e m ation th calls a " ake the i r g o lg a z a n organi wasaki ime to mng out. b; not a M a n i t y e erse for a t Guy K , taking n't work e right jo y; o l bilit p is wo to wha lowly o are for th a n i s ta Em ing h n sus gy. ead to hire ople w perso h l l t a o n n t N a e r atio n strate ur z ch c n bette go of p the righ i i n h o w orga e ocea n for y ofte t." Let nding o s t i la fi lu ur fi n It apo ing a b ssion p ural about n yo i t e a d w n " is de ce lop ful ing bed l a na power on deve ng a suc m P -Hir e e y e g ic king is ntered lementi ld b dlin -to-da u e a o e h y d s at thin a ce mp and tine d osts h c S t rovative hen it is me by i t u d g i ro in w duc and part of -Inn cially w f the ga e b r , d s e o n is et esp head . ce a udg anning n b a a r n pl -Be nizatio erform you ow cenario p a n s g g k r o th. rk; ture s ines ovin oal. o r s w p u o w r b g fu ur -Im egic g is a harging e of n yo where t s s i a a l n h r t p e s )? T e and c exp ject culture m o e u r i h -P ter a tt i e s d Prem s for fre fit a s n o o r . a F p s m p (Free anc feature tures. ines cus on o s u C a i b o e d eemium s to bas y and fe n’t f as -Do t r li F es B e t- sidered ing acc unctionan. n rf giv er on s. tio I n t e you c nvolves to riche innova angelist v i -Ha el that access ngoing your ev o r d o mo ium f itted to ecome l. b m goa pre omm ers to . r c u o y s ead y h t a e -Sta your u s s t ove e it. and m n -Ge a n l n g eting p nce. titio mbrac e ti p e e e r k a mark et audi your comrketing, a M elop r targ hile a v am -De ne you hind w l medi . a e fi nies a -De ’t fall b se soci p m i n f co en. -Do ’t desp o s n kind s happ en. -Do e ” e g r p e th ke thin gs hap ened … Kotler r a in pp lip ma ere “Th e that atch th hat ha by Phi w s " w Tho e that onder ement s w ag Tho e that Man g s n o Th arketi -- "M 58 - MOIJACKSONVILLE.COM JULY 2014


SAY'S WHO 1. Whatever the mind of man can conceive and believe, it can achieve. Thoughts are things! And powerful things at that, when mixed with definiteness of purpose, and burning desire, can be translated into riches.

2. Capital isn’t scarce; vision is. 3. You have to trust in something – your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.

4. I have not failed. I’ve just found 10,000 ways that won’t work. 5. You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win.

6. Progress always involves risks. You can’t steal second base and keep your foot on first.

7. A successful man is one who can lay a firm foundation with the bricks others have thrown at him.

8. Success is walking from failure to failure with no loss of enthusiasm.

9. Courage is being scared to death, but saddling up anyway. 10. A business that makes nothing but money is a poor business.

11. A business has to be involving, it has to be fun, and it has to exercise your creative instincts.

12. Winning is not a sometime thing; it’s an all time thing. You don’t win once in a while, you don’t do things right once in a while, you do them right all the time. Winning is habit. Unfortunately, so is losing. 14. Take up one idea. Make that one idea your life – think of it, dream of it, live on that idea. Let the brain, muscles, nerves, every part of your body, be full of that idea, and just leave every other idea alone. This is the way to success. 15. All our dreams can come true if we have the courage to pursue them.


13. The essential question is not, “How busy are you?” but “What are you busy at?”



Richard Branson #______

Walt Disney #______

Oprah Winfrey #______

Thomas A. Edison #______

Frederick B Wilcox #______

John Wayne #______

Zig Ziglar #______

Winston Churchill #______

Steve Jobs #______

Vince Lombardi #______

Sam Walton #______

Henry Ford #______

David Brinkley #______

Napoleon Hill #______

Swami Vivekananda #______





Robert L.

From Mississippi by Kaela Amaral

J" ohnson also served on the board of directors for a vast array of companies."

Picture credit: bet.com 64 - MOIJACKSONVILLE.COM JULY 2014

Johnson to Millionaire "BET became the first blackcontrolled company listed on the New York Stock Exchange ..."


orn in Hickory, Mississippi to a school teacher and a farmer in 1946, Robert L. Johnson couldn’t have expected that one day he would be named "One of the 25 Most Influential Business Leaders in the Past 25 Years" by "USA Today," and the world’s first African-American billionaire. While still a child, Johnson’s parents moved the family up to Freeport, Illinois. Robert earned himself a spot on the honor roll at Freeport High School and went on to the University of Illinois after graduation. Here he earned a bachelor’s degree in social studies, and was also a member of the Kappa Alpha Psi fraternity. After attending the University of Illinois is when the Robert L. Johnson that we

know today began to take hold. Johnson attended the Woodrow Wilson School at Princeton University and graduated with a master’s degree in public affairs in 1972. With his master’s degree, he earned himself a post with the Corporation of Public Broadcasting in Washington, D.C. It was in this position that he was introduced to the world of television, and he saw for himself a great, big opportunity. Johnson remained in D.C., fulfilling a number of different roles, from director of communications of the Washington, D.C. office of the National Urban League, to press secretary for Congressman Walter E. Fauntroy, and finally Johnson became vice president of government relations at the National Cable and Television Association. In 1979, he left the NCTA to launch his own network, one we’ve all heard of, Black Entertainment Television (BET). BET was the first television network aimed specifically at African-Americans, and at its humble beginnings in 1980, only aired for two hours every Friday night. It wasn’t until 1985 the BET actually turned a profit, but ever since then, the success has just kept coming for Johnson. In 1991, BET became the first black-controlled company listed on the New York Stock Exchange, and in 1998, Johnson and Liberty Media bought all outstanding shares of the company, landing Johnson with 42% ownership. Two years later, Viacom bought BET for a reported $3 billion in 2000, and Robert L. Johnson stayed on as CEO of BET until 2006. Following the success of BET, Johnson founded the RLJ Companies, an innovative business network that provides strategic business investments in a variety of different companies. RLJ Companies hold interests in hotel real estate, private equity, financial services, asset management, and a number of other business categories. He also became the first African-American majority club owner of a major American sports league when he purchased the Charlotte Bobcats in 2002. Eight years later In 2010, Johnson sold his majority stake in the Bobcats to none other than Michael Jordan. Johnson also served on the board of directors for a vast array of companies. These include Lowe’s Companies, Inc., NBA Board of Governors, US Airways, Hilton Hotels, General Mills, the Smithsonian Institution’s National Museum of African American History and Culture, and the United Negro College Fund. From Hickory, Mississippi, to founder of BET,to a member of "USA Today" magazine's "One of the 25 Most Influential Business Leaders in the Past 25 Years."



W Is Your Technology Support “House” in Order? By John Perry

A business technology review now can help save you time and money later

hen you notice oil leaks underneath your parked car, it’s wise to see your mechanic before the car condition becomes worse. What about your office technology investments? The “leaks” here are not always easy to identify and only become transparent when disaster happens, the cost of support becomes unbearable or when staff fail to get the support needed to work. Your managed services coordinator can help you find and fix them, so it’s a good idea to have an annual or quarterly review. They can review your business operations based on new or existing technology investments, explaining how the details help or hurt your business overall. Then you can decide if you need to make those changes. Here are some key questions to ask your managed services coordinator: • WHO is covered by my support agreements? Am I limited to a just myself, my office or the entire organization? Perhaps you have multiple locations or your size shrinks and grows seasonally. • WHAT exactly does my “service level agreement” cover? Maybe it’s not what you thought, or maybe what you want and need have changed. You never want to “assume that was covered.” • WHEN does my service level agreement? When should I renew my agreements, or increase or decrease specific coverage areas? When can I start accessing these business benefits? • HOW do my business requirements affect my support needs? In the event of problems, how will my business receive support – phone, email or in person? It’s natural of us to not want to invest in the unknown, or the details of worse-case-scenarios. But the details are important to the success of your business operations. Go over them with a managed services coordinator now to avoid unwelcome surprises later.

For a business review, contact a managed services coordinator from Managed IT MD at 855-301-0505 or visit ManageITMD.com. 67 - MOIJACKSONVILLE.COM JULY 2014

OWNING AND CONTROLLING YOUR BRAND(S) by Howard A. Caplan Lewis, Longman & Walker, P.A.


ost company owners are aware that their company has one or more brands. Many, though, do not have a good understanding of what a brand really is nor how to best protect a brand. A brand can be as simple as a name, or as complex as a combination of word, graphical images, and sounds. This article will discuss what branding is, what laws apply to branding, and the benefits of proper protection. This article is an overview that will provide basic knowledge about brands and how brands can be protected. Like many aspects of business, the details are where many of the decision making processes lie. These details will include each company’s branding and branding strategies, business methods and models, and legal details inherent in protecting branding.


What is a Brand?

A brand is a distinctive name or symbol that identifies a company, a product [or service] line, or a product [or service]. Business writer Seth Godin, in 2009, defined “brand” as “the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.” What Seth describes is at its essence why branding is important. Done right, branding is what sets one company, product, or service apart from another: The competition. Your competition. Stated differently, a brand can be anything that identifies the source of the product of service. Branding starts with you and your company. The how and what you use to identify the product or service you provide to the public. Before your customers can have “expectations, memories, stories [or] relationships” you have to develop the brand and place it in the marketplace to be bought or used.

Photo credit: http://www.agencypost.com

The public presentation of your brand can be any word, design, color, sound, scent, other device, or combinations of them that serves as an identifier of the source of an item or service. When properly used, the aforementioned become a trademark, or in the case of services, a service mark. I will use trademark, or mark, to include service mark, as the applicable laws are essentially the same. Your company’s name, how it does business with the public [d/b/a] and any of its sales and marketing brands become a trademark upon use in the course of business. Consider General Mills, which is both the company name, and a provider of brands of cereals, flours, soups, yogurts, and more. The General Mills trademark is the words “General Mills” as well as the stylized “G.” Some of General Mills’ trademark brands are “Pillsbury,,” “Pillsbury”, and “Progresso” soups. Owens-Corning’s pink insulation is a color trademark. The musical tones at the end of many computer commercials is Intel’s sound trademark. All of these are recognizable, and recognized, and identify their respective brands apart from their competitors.


Trademarks are unique among the main areas of intellectual property because mere use of a trademark confers what are known as common law rights to the user. Under common law, an owner can prevent others from using confusingly similar marks on similar items or services in the same geographic areas in which the owner uses the mark. There existed so much confusion about the protection afforded a company name by filing articles of incorporation that in 2003 the Florida Legislature revised the business corporations law to clarify that name registration by formation did not confer registered trademark rights in the corporation’s name. And registration of a fictitious name is not trademark registration. Thus, absent actual trademark registration of the corporation’s name, only common law trademark rights apply. Common law rights, though, are poor cousins to the rights provided by registering a trademark with the appropriate governmental agency.

Registration–Statutory Protection 69 - MOIJACKSONVILLE.COM JULY 2014

Perhaps the greatest right of registration is the right to prevent others from the using the same or a confusingly similar mark for the same or similar goods or services. The right of prevention is dependent upon where the mark is registered: The U.S. and all of its territories if registered with the U.S. Patent and Trademark Office, or an entire state if registered with a state trademark office. Registration also provides for stronger and easier enforcement against infringement, for enhanced money damages for infringement, injunctive relief, impoundment, and recovery of attorney’s fees in certain cases. Trademarks are also unique because registration can be perpetual for as long as use continues. Registration is effected by filing an application for registration with the Florida Department of State or the U.S. Patent and Trademark Office. In order to be eligible to apply for a U.S. registration the applicant must be using or have a real intent to use the brand [trademark] in interstate commerce, meaning across state lines. Florida law requires the applicant to be using the brand in the State of Florida.

Trademark Law

Trademark law, whether common law or statutory, has numerous elements that apply in each situation. One of the most important elements is priority. In most cases the first party to use a mark in business has the right to require later users to cease infringing uses of that mark. Additionally, a senior user may have superior rights to register the mark. Perhaps the second most important aspect of trademark law is the strength of a mark and how that strength affects branding. Trademarks range in strength from fanciful being strongest [Google or Kodak] to merely descriptive [National Chamber, for the U.S. Chamber of Commerce]. In between the foregoing are the stronger arbitrary marks [words not related to the item or service], less strong suggestive marks [some relationship between the mark and the item or service, sort of an “aha” recognition], and weakest descriptive marks [describing a characteristic or quality of the item of service]. On rare occasions, a brand can become generic and lose all trademark protection. Aspirin used to be a registered trademark of the Bayer Company. This is why Xerox says you make a copy, not a xerox. For a brand to be successful it must be distinctive. It does not, though, need to be unique. There are many instances when the same or similar brand name can be used by different companies for different types of goods or services. For example there are U.S. trademark registrations for “Rally” by different companies, for car care products, pet supplies, car seats, and more. If the goods or services are sufficiently different from another user of a mark then the mark can serve as a brand because of the distinctions between the different goods or services.


Your company has at least one brand, its public trade name. How strong that brand is – and any other brands your company develops – depends upon the brand's uniqueness, distinctiveness, and use. Good marketing becomes ever more important to business success. Setting your company apart from your competitors is easier when your brand is distinctive and recognizable. Protection and enforcement of your brand, or brands, should be critical aspects of your business’s marketing strategies on the road to success.



Profile for MOI Jacksonville Magazine

MOI Jacksonville Magazine Business Mind Issue August 2014  

MOI Jacksonville Magazine Business Mind Issue August 2014