BILT215

Tom Knox has been an illustrious leader and pioneer in Philadelphia for over 50 years. He grew up in public housing in Philadelphia, worked through high school, and entered the Navy at 16 where he eventually attained his GED. In the mid 1980s, he worked with Preferred Benefits, & Preferred Care under the Thomas Knox Consulting umbrella. He also served as the CEO of Fidelity Mutual, and in the early 2000s, as CEO of UnitedHealthcare in Pennsylvania. He also built up his political career over the years, serving as Deputy Mayor under Ed Rendell, in the 1990s, and again in 2008 in his bid for governor, and in 2015 for mayor. Tom's most recent venture is Homestead Smart Health Plans, which operates on a unique model that is disrupting the industry. Tune in to find out more about Tom's achievements, how he made it all happen, and his advice for leaders today.

Key Takeaways:

[:02] Kevin does a speed round with Tom. [2:12] What is Tom's background? [4:29] Kevin gives a brief overview of Tom's career. [5:59] How did Tom stumble into the banking and insurance industries? [8:39] Some of the work Tom did in his career was around fixing broken companies and things. How did he get into that? [10:52] Tom shares some of his experience with Preferred Benefits and Preferred Care under the Tom Knox Consulting umbrella. [16:23] Ultimately, Preferred Benefits was sold to Ocwen. [17:47] Tom explains how the healthcare arm of his business, Preferred Care, expanded and evolved over time. [23:05] What was Tom's experience with Crusader Bank? [25:02] How did Tom grow his bank from $29 million in assets to $500 million in assets over 6 years? [29:19] Royal Bank eventually bought over Crusader Bank. What caused Tom to sell at that time? [30:36] Tom served as Deputy Mayor under Ed Rendell. What was his position, and what did he do? [35:30] Tom explains how he was able to make so many changes in such a short amount of time. [36:13] Kevin and Tom discuss what happened with Fidelity Mutual. [40:35] 1999, Tom bought Maryland Fidelity, which was eventually bought by United Healthcare. [44:47] Tom eventually chose to leave United Healthcare to join the mayoral race. What attracted him about the mayoral race? [47:23] Tom announced his decision to run for governor in 2008. [48:36] How did Tom get involved in the rubber gaskets industry in China in 2011? [49:56] In 2017, Tom launched Homestead Smart Health Plans where he now serves Founder and Chairman. He explains more about the different components of the health plans. [54:49] What is stop loss? [57:28] What is the typical profile of a company or employer that uses these plans? [58:41] Who are some competitors to Tom's model? [59:40] How much effort has Tom had to put into educating the market? [1:00:42] What impact could a single payer system have on Tom's company, and is it likely to happen? [1:02:02] What are Tom's biggest fears and greatest hopes for the benefits industry? [1:03:45] What is Tom's leadership style? [1:05:57] Who were some big influences in Tom's life? [1:07:58] Who are some leaders that Tom admires today? [1:09:27] If Tom were mayor, what would he change about the city immediately? [1:11:45] What advice would Tom give his younger self?

Links:

Tom Knox on LinkedIn Preferred Benefits Group Ed Rendell Fidelity Mutual Fidelity Insurance UnitedHealthcare of Pennsylvania Homestead Smart Health Plans Ocwen Sunrise Banks Progress Bank Ron Kaplan

Steve Cloetingh is the Co-Founder of Signal Holdings LLC, a provider of wireless handset protection programs and repair services, and CEO of Military Veteran Partners (MVP). Steve shares his journey of entrepreneurship, from founding a startup with his brother to growing it to a $500 million enterprise with 2,000 employees and multiple locations across the country. He reveals more about his working relationship with his brother, what it took to scale the company and how he managed the exit and eventual sale of Signal Holdings. Today, Steve is actively involved in addressing unemployment and underemployment among Veterans through Military Veteran Partners. He explains why this is a cause he is passionate about and why Veterans are an untapped resource he hopes to introduce to society.

Key Takeaways:

[1:17] Kevin introduces his guest for this episode - Steve Cloetingh. [3.00] Kevin does a speed round with Steve Cloetingh. [4:35] Steve shares a little about his background. [5:59] Kevin and Steve discuss some props, and dive into the history of wireless mobile communications. [9:38] What was the crazy idea that Steve and his brother, Tom, had? [12:27] What were the first five years of business like for Steve, and how did he grow the business? [16:33] How did consumers interact with Signal Holdings? [20:35] What was the competition like for Signal Holdings? [22:18] How did Steve manage the risk and filing requirements of being in the insurance business? [23:40] What are Steve's thoughts on whether entrepreneurs are born or made? [25:23] Steve's company grew from just him and his brother into a company with 2,000 employees and locations across the country. What was Steve's role in the scaling of the company? [27:42] How did Steve manage conflict and friction with his brother when it came to leading the company? [29:56] Why did Steve decide to take outside money? How did the partnership with Stone Point Capital come about? [32:54] Five years after this partnership, Signal Holdings was sold to Assurant. Steve shares more about this strategic acquisition. [34:36] Steve and Kevin discuss how the 2008 crash affected Signal Holdings. [37:12] What was Steve's experience as an employee? [39:13] What attracted Steve to Jerry Flanagan and the business opportunity he presented in 2014? [43:21] What is the focus for Military Veteran Partners (MVP)? [45:57] What are some of the underlying causes for Veteran unemployment and underemployment? [48:47] Steve shares more about the board of MVP. [53:44] What does Steve see for the future of MVP? [56:09] What is the current climate for Veterans to start and build businesses and re-enter society? [58:20] What advice would Steve give his younger self?

Links:

Steve Cloetingh on LinkedIn

Signal Holdings LLC

Martin Cooper

Motorola

Blackberry

Palm Treo

Nokia

AT&T

Asurion

Stone Point Capital

Assurant

Jerry Flanagan

JDog

I'm not a military Veteran, but getting them hired has become my life's mission, by Steve Cloetingh on LinkedIn

Military Veterans Partner MVP Advisors Dyson

David Adelman is the CEO of Campus Apartments, and Vice Chairman of FS Investments. David's family friend, Alan Horowitz, founded Campus Apartments in the 1960s, and when David graduated from Ohio State University, he joined Alan and quickly became the CEO at only 25. David formed the first public-private partnership in the country with the University of Pennsylvania, a model replicated by many other schools nationwide. Mr. Adelman has parlayed his success into Darco Capital, his family office that invests in early stage companies.

Key Takeaways:

[1:19] Kevin introduces his guest for this episode — David Adelman.

[4:07] Kevin does a speed round with David.

[7:05] Kevin and David discuss the inception of Campus Apartments. What did it look like when Alan first started it, and then when David took the helm?

[12:45] How did David pioneer the establishment of the country's first public-private partnership with the University of Pennsylvania in the 1990s?

[14:24] David shares more about his relationship with Alan and how that benefited him in his entrepreneurial journey.

[17:37] In 2006, things started heating up in the real estate space, yet David did not want to take his company public. What was his mindset in that decision-making process?

[19:24] Why did Singapore have an interest in student housing that led them to invest in Campus Apartments? Kevin and David discuss some of the other investors in this space.

[21:37] One of the people on David's leadership team for a long time is Dan Bernstein. What are his strengths and how do Dan and David complement one another?

[23:05] David dives into CCHP and how he raised $400 million, and how he's continuing to raise capital in this space.

[26:29] What are some of David's favorite projects that he's working on right now?

[29:17] What does David see as the greatest opportunities and challenges in the student housing industry?

[30:28] What is the culture at Campus Apartments and how has David been able to keep that culture as he's grown?

[31:42] What was the background story of how David got started with Franklin Square Investments?

[33:46] What was David's first offering, and why?

[35:51] What was growth like for FS in the past ten years?

[39:27] Michael Forman is a crucial part of David's team at FS. What does David admire about Michael, and how has he been influential in growing the business?

[42:13] What advice does David have now for his younger self?

[42:26] David's entrepreneurial journey seems very easy from the outside. He reveals some of the challenges he has encountered.

[45:24] When you deal with business in an industry that is highly regulated, you always have to see how regulation can affect your business.

[46:20] Darco Capital is the family office investment vehicle for David. What are some of the companies he is investing in? How did this come about and where does David see it going?

[51:58] How does the pre-revenue vs post-revenue status of a company factor in David's decision process to invest?

[54:49] David and Kevin discuss some of his investments different companies.

[59:00] Which of David's investments does he feel the most excited by?

[1:00:45] David's latest venture is a fintech company. He explains more about what it is.

[1:03:10] What does David love about the Philadelphia region, and what would he change if he were mayor?

Links:

David Adelman

Campus Apartments

Franklin Square Investments

Alan Horwitz

Ohio State University

University of Pennsylvania

Michael Rubin

Michael Forman

Dan Bernstein

Vanguard

Blackstone

KKR

Darco Capital

Wheels Up

Cary Toner is the former CEO of The Toner Organization which his father started in 1966 with a focus on high risk or impaired risk life insurance. Cary joined the organization in 1979 and soon, new areas of opportunity were presenting themselves in term insurance and annuities. Cary eventually bought the company from his father and from 1986 to 2001, he grew the agency into one of the top 10 in the country with 5000 brokers nationwide and revenues approaching $35 million. He eventually sold the company in 2001, and shifted his focus to his side project that he'd started in 1996 — iPipeline. A truly visionary company, iPipeline focused on reducing the time to underwrite life insurance policies by harnessing the power of the internet. iPipeline was eventually sold in 2015 for $380 million. Cary recounts his business journey, and how he managed the changing landscape of the insurance industry through the years.

Key Takeaways:

[1:18] Kevin introduces his guest for this episode — Cary Toner.

[3:14] Kevin asks Cary five speed questions.

[5:50] What was Cary's path in joining his father's organization, The Toner Organization (TTO)?

[7:40] The original business model for TTO was high risk, impaired risk insurance. What were some changes in the 1970s that made the business model less viable?

[00:09:35] What exactly were high risk or impaired risk cases?

[10:15] Kevin and Cary discuss the customer base for TTO and how the business functioned.

[11:29] What were some of the new products that were coming out at that time that were making the existing business less lucrative?

[16:15] How was the new product, term insurance, received in the market by traditional, old-school life insurance salespeople?

[17:56] How did TTO morph to adapt to these new products?

[19:17] Cary and his father started having differences in their vision for TTO. How did that play out?

[24:03] From 1986 to 2001, Cary focused on building the company. He shares some of what he learned in that time.

[27:45] Who were the 20 salespeople in Cary's company and who were they selling to?

[31:01] Kevin and Cary discuss how big the organization was in 2001, and what kind of metrics the company who bought them over was looking at.

[35:32] Cary had a 2-year contract with BSYS that ended in 1.5 years. What happened?

[39:12] In 1996, Cary undertook the project of simplifying the underwriting of polices through iPipeline. How did he see the need for this project and come up with the solution to solve this problem?

[44:54] What was the revenue model for iPipeline?

[49:24] How was Cary financing iPipeline?

[51:57] What was the turning point that made Cary decide to seek external funding for iPipeline, and what was his process?

[55:36] What was Cary's role in iPipeline after he sold it to NewSpring?

[57:09] Kevin and Cary discuss how TCV's investment impacted the growth trajectory of iPipeline.

[59:04] Looking back, what would Cary have done differently?

[1:00:23] What applications does Cary see with regards to machine learning and artificial intelligence to the insurance industry?

[1:05:37] Does Cary believe that entrepreneurs are born or made? What is next for Cary in terms of business opportunities?

[1:09:13] Cary shares more about his philanthropic activities and involvement in non-profit organizations.

Links:

Cary Toner

The Toner Organization

Saint Joseph's University

BISYS

iPipeline

EMyth, by Michael E. Gerber

Traction, by Gino Wickman

EOS

CitiGroup

NewSpring Capital

Tim Wallace

How Our Robots Ran 30 Million Illustrations in 24 Hours, by Bill Atlee

MapMyRun

Notre Dame Academy

Cardinal O'Hara High School

Josh Cartagenova is the Co-Founder and CEO of Therapy Source Staffing Solutions, a national staffing agency based in Fort Washington. In 2000, after getting laid off from a marketing job, Josh and his wife stumbled into a business opportunity to employ therapists. Since then Therapy Source has carved out a very intentional niche, filling the need for specialized therapists for public and charter schools nationwide. Josh shares more about his business journey and how he has grown his company to over $30mil in revenue, employing 55 people locally and 2500 therapists in over 40 states. Tune in to find out more about Josh's challenges and obstacles as he manages running a fast-growing business while working with historically slow school administrations with tight budgets.

Key Takeaways:

[1:18] Kevin introduces his guest for this episode — Josh Cartagenova.

[3:09] Kevin does a speed round with Josh.

[8:41] Josh shares a little about his background.

[11:04] Josh and Kevin discuss how the advertising world has changed since 1993.

[12:56] Josh went through four jobs in seven years. He reveals more about his early years of finding himself and where he fit in.

[18:07] In 2000, Josh started an online, high-end product business. What was his experience?

[21:16] What was the early inspiration for Therapy Source?

[24:36] What is in the Therapy Source database?

[26:15] Josh and Kevin discuss how the costs work out for schools and the savings they make by working with Therapy Source.

[27:43] When Josh first started out, how much client education did he have to do, and how has that changed over the years?

[33:33] Online vs. in-person — Which manner of service delivery does Josh prefer or is better? Why?

[37:52] There has been an evolution and growth of online learning in recent years.

[40:19] How big is Josh's market and what is the competition like?

[43:24] What are the threats to Josh's industry in relation to healthcare?

[45:46] What are Josh's greatest hopes and fears for the next five years?

[48:50] What was Josh's experience growing the company with no external investment or partnerships?

[50:43] Looking back at the first 5-10 years, what was Josh's revenue stream like?

[53:34] What does Josh's sales process look like?

[55:31] What are some drivers of growth and revenue in Josh's industry?

[56:49] How do staffing agencies such as Therapy Source get valued?

[58:35] Josh and Kevin discuss some aspects of the hiring and on-boarding process for his employees.

[1:04:47] How does Josh balance his relationship with his wife who also works at the company?

[1:06:28] Who were some of the influencers in Josh's life in the course of his business journey?

[1:11:24] Josh made a shift in his business from 1099 to W2. What was that process like and what impact has it had on his business?

[1:17:00] Josh is moving into staffing solutions in a new industry — the cannabis industry. He shares more about that process.

[1:22:10] Which niche is Josh focusing on in staffing the cannabis industry?

[1:23:43] What are Josh's predictions for the cannabis industry?

[1:26:22] What has been the hardest thing thus far with Josh's new venture?

[1:28:13] What do the next 10 years look like for Josh?

Links:

John Cartagenova

Therapy Source Staffing Solutions

Clean Catch Nail System

Hofstra University

Harmelin Media

Bala Cynwyd's dying main street: Will $100 million save it?, The Inquirer

TheraWeb

ASHA

Khan Academy

Jackson Healthcare

EBSHealthcare

Innovo Staffing

Parents Gone Wild: High Drama Inside D.C.'s Most Elite Private School, The Atlantic

DiSC

Wonderlic Test

Predictive Index

Vistage

Steve Jobs

Gary Vaynerchuk

American Management Association

Michael Maher is a serial entrepreneur who started Benjamin's Desk, a mid-Atlantic coworking operator, as well as Bunker Labs which is a veteran-focused incubator, and most recently, Houwzer, the startup whose mission is to disrupt the $80-billion a year real estate agency model. Michael attended the Naval Academy and spent two years deployed across the world, and this has influenced his perspective and mission-driven manner of leadership and management. Kevin and Michael dive into his various ventures, the inspiration that led to their formation, and the opportunities and challenges that he has encountered in his entrepreneurial journey. Michael also shares more about how his focus on people and relationships has contributed to his success, as well as how he hopes to make Houwzer the next great real estate company. Tune in to find out more.

Key Takeaways:

[1:18] Kevin introduces his guest for this episode — Michael Maher.

[2:49] Kevin does a speed round with Michael.

[6:30] Michael shares a little about his background in leadership positions.

[9:27] Michael graduated in 2005 and served in the Navy as a ship driver. He explains what that means, as well more about his experience in the Navy.

[13:24] How did Michael learn about sales in the Navy?

[16:05] Kevin and Michael discuss his first experience with coworking.

[18:46] What was the inspiration for Benjamin's Desk?

[21:43] Kevin and Michael discuss whether there will be consolidation and scaling in the coworking space.

[27:48] Kevin and Michael dive into the financial aspect of Benjamin's Desk and the consolidation with 1776.

[33:06] Michael shares more about his first business plan for Houwzer which relied on Transaction Tracking Technology (T3).

[38:32] What was business plan #2 like?

[43:50] What is the revenue model and the sources of revenue in Michael's business?

[51:28] Michael and Kevin take a look at the real estate market.

[53:26] What are Michael's greatest fears and hopes for Houwzer?

[1:01:32] What is the financial incentive for Michael's salaried employees to "upsell" to the client?

[1:03:56] Michael shares more about his fundraising activities for his business.

[1:11:38] Michael recounts the story of meeting Ira Lubert in a barber shop.

[1:15:24] Michael contributes a certain percentage of the company's profits to charities, volunteering and employee ownership. How did he decide to set his company up as such, and how does he expect that to change in the future?

[1:25:55] Kevin shares some closing thoughts.

Links:

Michael Maher houwzer

Benjamin's Desk

Bunker Labs

Houwzer

1776

Naval Academy

Redfin

Zillow

Compass

Zig Ziglar

Achiever Global

Villanova University

The Hub

Entrepreneur Magazine

The Makery in Brooklyn, NY

Tony Hsieh, founder of Zappos

The Wing

Indy Hall

Spaces

Regus

WeWork

Uber

Lyft

UberEats

Amazon

Tesla

Airbnb

Kevin Baird, co-founder of Houwzer

Josh Kopleman

Nick Bayer

Saxbys

Chris Cera

Arcweb

Warren Buffet

Berkshire-Hathaway

Alexa

LLFunds

OfferPad

Spencer Rascoff

Richard Barton

Expedia

Rupert Murdoch

United Wholesale Mortgage

David Gustave

David Robinson

Patagonia

Chris Cera, is the CEO of Arcweb Technologies, a consulting company serving the bespoke needs of its financial and healthcare customers, founded in 2011. This is his fourth startup — his first venture was Vuzit. Chris shares more about the rise and fall of Vuzit over its 8-year lifespan as well as his two other ventures that did not become viable businesses. Chris and Kevin discuss his latest venture, Arcweb — how it is serving the marketplace and some of the challenges he faces in the industry, as well as the unique company culture that sets it apart. As the founder of Philly Startup Leaders whose mission is to develop Philadelphia as a place where everyone can achieve their entrepreneurial potential, Chris reveals some of his hopes for Philadelphia in the future. Tune in to find out more!

Key Takeaways:

[1:19] Kevin introduces his guest for this episode — Chris Cera.

[4:00] Kevin and Chris go through a speed round of five quick questions.

[5:52] What do the letters A, R, C mean in Arcweb? Chris explains more about the name and brand of his company.

[8:44] What is Arcweb and where does it fit in the market?

[10:21] Kevin and Chris discuss the importance of considering the user when it comes to UX.

[13:42] Chris shares a real world case study to illustrate Arcweb's 4D process with Penn Medicine.

[22:52] In the medical industry, faxes are seen as more secure than digital alternatives. What have been Chris' challenges on that front?

[25:47] Chris has "founded" four companies, but only two became viable businesses. What happened to the other two?

[30:02] Chris and Kevin discuss if entrepreneurs are born or made.

[33:46] When did Chris change the name of his business to Vuzit?

[35:05] The two products that made up Vuzit were online document viewer and document security system. How did Chris market these products?

[38:22] How did Chris come up with the idea for Vuzit to begin with?

[44:16] Chris reveals some of his naivety in starting Vuzit that didn't take into consideration how to generate revenue.

[47:00] What caused Vuzit to ultimately fail?

[52:27] How did Chris cope with the "dark days" of his business?

[58:59] When Chris started Arcweb, he decided to run his company without partners, without external money. Has he stayed that course?

[1:08:25] How did Chris leverage his network with the Philly Startup Leaders and Indy Hall?

[1:12:04] How did Chris get vendors in the beginning?

[1:13:14] What are some of the unique aspects of Arcweb's company culture?

[1:23:23] Chris and Kevin discuss some of the challenges that having a whistle blower policy helps address.

[1:26:17] How does Chris guard his time and say 'yes' to the right things?

[1:31:19] What are two things Chris would change in the next 100 days if he were made mayor?

Links:

Chris Cera on LinkedIn

Arcweb Technologies

Vuzit

Philly Startup Leaders

UX is like a joke. If you have to explain it, it isn't that good.

Penn Medicine Case Study

We're All Born Entrepreneurs, by Steve Welch

GSK

Dropbox

Box

Adobe Acrobat Viewer

The Hard Thing About Hard Things, by Ben Horowitz

37signals / Basecamp

Paul Graham, Y Combinator

Ben Franklin Technology Partners

Robin Hood Ventures

Coley Brown

MeetUp

Indy Hall

Wharton

EOS

EMyth Revisited, by Michael E. Gerber

Traction, by Gino Wickman

Toodledo App

Pitch Anything, by Oren Klaff

Essentialism, by Greg McKeown

Tim Ferriss Show: Greg McKeown — How to Master Essentialism (#355)

Chamber of Commerce, Philadelphia

City of Philadelphia

Michael Cardone III is the Executive Chairman at Cardone Industries, a leading provider of new and remanufactured aftermarket auto parts and products. Cardone Industries is one of the largest private employers in the commonwealth of Pennsylvania and currently employs 5,500 employees worldwide. As a family run business, Michael is the third generation to oversee the day-to-day operation and growth of Cardone Industries. In this insightful interview, Michael provides his thoughts on what we can realistically expect from autonomous vehicles, why the incorporation of pastors in his facilities has dramatically reduced turn over, and candidly shares some challenges the company has experienced by opening up facilities in Mexico.

Key Takeaways:

[1:18] Kevin introduces his guest for this episode — Michael Cardone III.

[6:30] Michael shares a bit about Cardone Industries history and talks about his grandfather — the man who started it all.

[11:45] Michael's grandfather had to start all over at the age of 55 in 1970. What was the first 10-15 years of the Cardone business like?

[13:25] In the mid-80's, Michael Cardone Sr. was in his 30s when he began taking on more leadership responsibilities for the business.

[17:30] How has the quality of American-made car parts changed over the years?

[19:18] Looking back, what are Michael's thoughts on the dark period of the automotive industry and the types of mistakes the industry made?

[21:01] Why is there a 'chicken tax' on new pickup trucks?

[22:45] What are the differences between remanufactured parts vs. rebuilt/reused?

[25:26] How does Cardone source, build, and distribute their products?

[29:02] How does the tagging process work for their units and do they track where that part might go?

[33:25] What happens to the dead or broken car part after it gets replaced?

[36:25] Michael explains how they account for old inventory from previous car models vs. brand new inventory for cars coming out this year.

[38:55] How has competition changed over the last 40 years?

[40:14] What does innovation look like at Cardone?

[45:35] With facilities all over the world, what kind of challenges does Cardone face on an international level?

[51:58] Logistically, it doesn't make sense to establish facilities in China.

[52:56] Michael shares the challenges the company has faced with trade agreements between the U.S. and Mexico.

[55:40] Their union in Mexico had a strike in February against the government. The strike was deemed illegal, but it still interrupted business for about a week.

[58:34] Michael shares his thoughts on autonomous cars and how they might impact the industry.

[1:06:51] How has the company grown to 5,500 employees while still maintaining its culture and values?

[1:13:55] Has Michael seen a big disruption in their workforce due to the evolving changes the company has undergone throughout the decades?

[1:15:44] Who has been Michael's biggest influences throughout his career?

[1:19:00] How has Philadelphia been as a business climate?

[1:21:04] Are entrepreneurs born or made?

Links:

Cardone

Cardone Foundation.com

World Serve

Oral Roberts University

Thunderbird School of Global Management

Tredici Enoteca

Squires Golf Club

Automotive Hall of Fame - Michael Cardone, Sr. Roto Master.com

Bill Daggett, Jr. is the Chairman of Kistler Tiffany Benefits, a private employee benefits firm with revenues of $60+mil. The company operates out of six offices throughout Pennsylvania, Delaware and New Jersey and has more than 140 employees. Bill began his career with Kistler Tiffany in 1962 in a part-time role, but eventually founded and served as CEO of Kistler Tiffany (KT) Companies for 17 years, and subsequently held the position of Managing Partner and Co-Owner. Currently, he's on the board of several for-profit companies, is actively involved in Ursinus Collrgr,his alma mater, and also gives back to the community through Kistler Tiffany Foundation. On this illuminating interview, Bill shares more about the changes in the insurance industry over his 50 years at KT, as well as the challenges and opportunities he has seen in his career. Bill offers up advice from his years of experience on leadership, entrepreneurship and success, as well as his thoughts on why business owners should be giving back to their communities. Tune in to find out more.

Key Takeaways:

[1:19] Kevin introduces his guest for this episode — Bill Daggett, Jr.

[4:47] Kevin celebrates the fact that Bill has worked for the same company for over 50 years, and has been married to his wife for over 50 years.

[6:15] What has happened in the insurance industry over the years? Bill summarizes some of the major characteristics of the past 4-5 decades.

[10:02] What was Bill's process for getting clients in the early days before email, texting, and fax?

[12:06] The key to Bill's success has been doing one thing, and doing it well.

[12:55] In the 90s, what were some changes in the industry from the healthcare or legislative standpoint that presented major opportunities or hurdles?

[15:08] Kevin and Bill discuss the changes in IBX.

[16:20] What the difference between the different carriers?

[17:47] Bill shares more about the different roles the 140 employees play at his company.

[18:49] How different is the magnitude of complexity over the past 50 years?

[20:58] Bill shares more about the call centers that he owns.

[22:37] How did Bill decide to employ seniors to work in the call centers?

[25:21] What was Bill's first sale?

[27:26] At some point, Bill lifted out of the KT umbrella. What happened there?

[28:46] What are the greatest opportunities and threats in the benefits business today, and in the next 10 years?

[32:56] If a single payer system doesn't become a reality, what are the opportunities?

[35:22] What is C2? Bill shares more about its history and how it has evolved.

[40:10] What is his leadership style?

[42:38] How did Bill groom Shawn Orenstein and Joe Dowd to become CEO and President of the company?

[44:35] Who were some big influences over the course of Bill's career?

[45:44] Bill has retained many of his employees over decades. What were some of the key influencing factors in that?

[50:56] What are Bill's thoughts on whether entrepreneurs are born or made?

[52:29] When Bill has faced losses, what was the main reason?

[55:15] Kevin and Bill discuss his involvement and investment in different deals and opportunities over the years.

[57:42] Bill elaborates more on his experience with Kirk Wycoff and the banks.

[1:00:17] Apart from Kistler Tiffany Foundation, what are some things Bill is involved in that are part of his legacy?

[1:02:07] Bill believes that it is a "necessary responsibility" for a business owner to give back to the community.

[1:02:49] What advice does Bill have for young people starting their career today?

[1:07:21] What are Bill's thoughts around the Philadelphia region as a place to do business?

Links:

Cross Properties

Bill Daggett, Jr.

Kistler Tiffany Benefits

Kistler Tiffany Foundation

Ursinus College

Applebrook Golf Club, Malvern

Dilworthtown Inn

BILT215 Episode 001: Tony Nichols — Chairman Emeritus of Brandywine Realty Trust

Good to Great, by Jim Collins

Independence Blue Cross (IBX)

Horizon

Highmark Health

Capital Health

UPMC Health Plan

Kaiser

AmeriHealth

Aetna

UnitedHealthcare

Shawn Orenstein, CEO of Kistler Tiffany

Joe Dowd, President of Kistler Tiffany

NewSpring Ventures

Kirk Wycoff

Tony Nichols, is the Senior Chairman Emeritus of Brandywine Realty Trust, a firm that grew out of a company Tony founded in 1982. He is one of the founding members of Applebrook Golf Club, has served on the board of Fox Chase Bank, St. Joseph's University and currently serves on the West Catholic Board, his alma mater. On this episode, Tony shares more about his 50 year career, the challenges and obstacles he faced along the way and how he overcame them. From his first job to the Chesco-Nichols Group to Brandywine, Tony shares the lessons he's learned and the insights he has gleaned over the years. Tune in to find out more.

Key Takeaways:

[1:31] Kevin introduces his guest for this episode — Tony Nichols.

[2:09] Kevin does a speed round with Tony.

[2:43] Tony shares a little bit more about his time at West Catholic.

[4:04] Tony discusses his experience with going to college as night school.

[5:45] Tony's first job was with Philadelphia Savings Fund Society (PSFS), and he also spent some time with the Marines.

[7:32] What prompted Tony's move from PSFS to Colonial Mortgage Company?

[9:32] What was the market like in the '70s?

[15:24] How important was Colonial to PNB?

[16:44] Tony explains how he and Bob Chesco got together to start their company.

[26:02] How closely did Tony follow his business plan?

[30:26] How did Chesco-Nichols evolve through the years, over time?

[35:00] What was Tony's interaction with Pete Musser from Safeguard Scientific?

[37:25] What brought about the next stage in Tony's business journey to go public?

[41:20] Tony talks about some of the other key players in his business journey.

[46:35] What was the scale of the projects Tony took on at that time?

[47:11] What was the state of the industry when Tony went public?

[51:34] What was the strategy at Brandywine?

[55:11] Tony and Kevin discuss some of the big projects from Brandywine right now.

[1:05:22] Did Tony have any regrets about going public?

[1:08:13] What kind of leader is Tony? He shares more about his leadership style and how it had changed over the years.

[1:13:33] Who were some major influences in Tony's life?

[1:20:39] What is Tony's opinion on whether entrepreneurs are born or made?

Links:

Cross Properties

Tony Nichols

Brandywine Realty Trust

The Nichols Company

Applebrook Golf Club

Fox Chase Bank

St. Joseph's University

West Catholic Preparatory High School

Jefferson University

Philadelphia Savings Fund Society (PSFS)

Safeguard Scientifics

Liberty Property Trust