GreenSky Credit is an a typical finance company headquartered in Atlanta that provides loans for housing and home-improvement projects and is doing extremely well. Its CEO, David Zalik, co-founded the company in 2006 and, since then, has stood out for not only his success but also for – unlike many other financial startups – having no difficulties working with big banks. Among other things, GreenSky Credit generates and services loans for major banks and earns tidy profits as a result.
The company is known for being “frictionless.” In fact, clients can apply for a loan on their cell phone and get a decision within seconds. While GreenSky Credit rarely offers loans over $65,000, they do a tremendous volume of business, and they farm out some of their services to contractors to reduce overhead.
Zalik has become a billionaire through his company, but he’s not the type to toot his own horn; in fact, he rarely gives interviews or speaks with the press. Nevertheless, Zalik is drawing headlines in the financial press by taking the first steps towards making GreenSky Credit public, and an IPO to the tune of five billion is being forecast. Because of Zalik’s comfort in both the corporate and startup communities, the Wall Street debut of his GreenSky Credit is something savvy investors are looking forward to.
While running a highly innovative company, Zalik is known for his old-fashioned financial conservatism. The culture at GreenSky Credit isn’t like the go-go image that many startups present. There are no ping-pong tables at the office or catered concerts by rock stars for employees. Like Warren Buffet, Zalik doesn’t waste a penny no matter how successful he becomes. Perhaps this attitude comes from the company’s humble origins; for the first eight years of its history, Zalik relied on a mere 10 million, raised with his own real estate as collateral, to keep the operation going.
There is a growing trend in corporate America. This trend is the realization that giving to charity can pay off in a business sense. Many companies are realizing that by donating more charity its helps people realize that they as a company care about their fellow humans. Supporting communities is also a good move in that it allows individuals to get assistance that they would otherwise be able to get. In realizing the financial benefits to the shrines many corporations are creating charitable arms of their businesses. These charitable branches are able to focus 100% of their attention on finding the best charity for their company’s money. By giving at this type of attention they are able to ensure that they are helping out the best calls available.
Stream energy was one is the first companies to realize the benefit of supporting their community. Stream energy created separate friends called stream cares. This branch focuses on helping out where they can. Stream energy believes that it is beneficial to give back. Stream cares focuses on many different projects. One of these projects that they are very proud of is their support of children in need. Stream cares focuses on providing assistance for homeless children. This assistance comes in the form of financial health as well as help with getting basic necessities. They also bring homeless children to a water park for the day. While this may sound shortsighted this generosity provides a once-in-a-lifetime opportunity to its beneficiaries.
Another benefit of having a dedicated charitable arm of the business means that they are able to act quicker and more decisively. For instance, when hurricane Harvey devastated Houston Texas stream energy was able to act quickly. The company responded immediately to the needs of the citizens of Houston Texas. Floodwaters rose over night destroying many homes and trapping thousands in their homes. The devastation also has long-term effects on many people. It left more vulnerable individuals without home or source of income. This loss can easily put people in situations of homelessness for years after the initial disaster. Luckily organizations like stream cares were available to help people get back on their feet.
Few people can parallel Chris Linkas’ expertise in financial affairs in the county. Chris has been supervising a team of experts that has been dealing with identification of investment opportunities from various parts of Europe. He is, therefore, highly experienced in financial matters and any advice from him on this topic is worth listening to and implementing. Chris advises all people irrespective of their ages.
In all his talks, it is difficult for him to evade advice on investments. This is because he believes investing is the way to gain wealth. His concern about young people is that they are highly reluctant to invest, especially in the stock trading markets. Chris advises that the age of the youth should not be an excuse for not investing. He advises that they should be vigilant in financial matters as early as possible.
The following are some of the tips that Chris offers to young people concerning investing in stocks:
- Reinvesting dividends
Many young people are unaware of the benefits of reinvesting in stocks. This is one of the surest ways earning money without having to worry about the current stock price. Reinvesting enables one to earn money through two means easily. One of them is through earning of interest. This interest is usually compounded on the new figure. Therefore, your investment keeps growing and ultimately you’ll have enough to enjoy in the retirement days.
- Risk at a young age
Chris argues that young people are best placed to risk their capital as they have limited uses. This urge to gamble declines with age when more responsibility is added. It is, therefore, good to try out new ventures at a young age. Some of the most successful businesses today were started at a time when nobody dared to start. Today, they are profitable firms earning millions of dollars for the owners.
- Learn from past mistakes.
Young people are prone to making mistakes due to their aggression when investing. Chris Linkas advises that errors are part of the trade. However, he says that the most crucial bit is learning from them and building on lessons learned.