Monday
TIME-OUT.
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Wednesday
The Game of Politics
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Saturday
*THE INTERNS DESK*
Initially, when I considered the prospects of interning at KPMG LLP’s headquarters in New York, I was a little hesitant. The accounting industry, while a respected and quite lucrative career path, wasn’t the most appealing job in my eyes. I wanted to go into corporate finance. Furthermore, outside of two introductory accounting courses, I had no understanding of what exactly a public accounting firm did. But the prospects of interning in the “City” and gaining overall exposure to the financial services industry proved to be opportunities that I couldn’t let pass. I received my internship through the Institute for Responsible Citizenship’s Career Program (http://www.i4rc.org/) and was selected as one of six sophomores to participate in the KPMG Summer Scholars Program. The program lasted eight weeks and offered three rotations through the firm’s three major lines of business (tax, audit, and advisory) in addition to a week of training. For each rotation, we were assigned to a senior partner, for whom we did various projects.
From the start, I was surprised by the depth of the projects that each of us were assigned. At the end of the first week, all six of us, presented a competitive gap analysis of the Big Four Accounting Firms to a panel of senior executives. At the time, we were all unaware of the level of seniority that we were working with, but we would learn quickly as the summer passed. My first rotation lasted only a week in which I worked in KPMG’s insurance advisory business. The partner I was assigned to there was extremely helpful in giving me feedback as I completed various projects for her. Throughout the week, my primary goal was to complete a SWAT analysis of the Big Four firms’ insurance advisory businesses. At the end of the week, I was to give a formal presentation, but as I would soon learn, plans change at the drop of a dime. Instead, I traveled to Dallas with her to attend a two-day partners meeting and had to deliver the presentation on the returning flight. The change of pace was exciting and the stay in a five-star hotel made it even more worthwhile!
My second rotation was in the audit sector. There, I was assigned to KPMG’s Pfizer engagement and as a result had to work from Pfizer’s nearby office. While not as entertaining as my last rotation, I learned the valuable importance of having enough resolve to work through grudge-work. Analyzing annual reports, editing roll-forwards, and organizing audit workbooks weren’t the most thrilling moments of my internship, but they allowed me to become more familiar with financial statements in addition to providing insight on how an audit team works.
My third and final rotation was in the tax sector where I worked under a partner in the Information, Communications, and Entertainment industry group (ICE). The first day I walked into the office, I was told to book a flight to Boston through the company’s travel services. There, I was expected to attend a Northeast tax partner’s leadership meeting. Again, I learned that I must always stay on my toes and be prepared to travel even at times when one doesn’t feel like it. Throughout the rest of the rotation, I conducted industry research reports, created revenue breakthrough reports, and attended various partner meetings.
At the end of the summer, my understanding of a Big Four accounting firm’s structure had improved tenfold. Additionally, I had made major connections with some of the most senior people in the firm. But perhaps the most beneficial thing that I learned from the summer was how important soft skills are in getting to the point where one is leading and managing people. Going into the summer, I had expected to learn tons of technical accounting standards. But watching how senior partners led and motivated some of the world’s brightest thinkers proved the greatest lesson of all. At the end of the summer, I had worked for one of the biggest accounting firms, received great pay, networked with some of New York’s most senior people, traveled, and most importantly, put myself in a great position for the next summer.
If anyone has any questions on the Institute for Responsible Citizenship or my summer, feel free to visit http://www.i4rc.org/ or e-mail me at pyles.warren@gmail.com.
Warren Pyles is currently a junior at the University of Pennsylvania.
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Tuesday
Use Your Words
Before attending the show, I of course did some background research. Urban Word is a nonprofit organization focused on uplifting young souls through spoken word. I discovered that I was being given a chance to look into the lives of teenagers from across New York City. All five boroughs were represented, as well as Long Island or "Strong Island" as DJ KaySlay the MC of the event referred to it. Afrika Bambaataa, the founder of the Zulu Nation, was in attendance and received an award for his groundbreaking work in and for Hip Hop.
On the night of the finale, we packed into Washington Irving with excitement in our hearts and minds to absorb the power of rhyme. By some random act of a power unknown, I was seated with Russell Simmons. Yes, Russell Simmons the hip hop pioneer and spoken word innovator. Why was he at an event such as this? Because he sponsored it of course. It was but the young version of def jam poetry and HBO was in clear presence documenting it.
A little past 8, the finale began and seemed to never end. It wasn't seemingly endless because the performances lacked entertaining value. On the contrary, it was seemingly endless because the poetry was so enthralling. Plain and simple, I didn't want the young poets to stop speaking. I wanted to hear more about this struggle we have come to love as life. I wanted to hear more vivid descriptions of sexual adventure and heart-wrenching tales of love gone wrong. I have always known words to be the most powerful asset available to any living creature, but I have never known words spoken by young minds to hit me so deeply. In a time in which technology has almost ruined the art of spoken conversation, this is quite outstanding.
After my Urban Word experience, I ask you to do me one favor: use your spoken word. Avoid our technological ways of avoiding direct conversations and speak freely. Use your words and you will have the power to change more than you can see.
Trust my words.
Jonna
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Sunday
Michael Kopko: Cleaning up in style.
Michael Kopko is a recent graduate of Harvard College. He is currently a student at Columbia Business School, class of 2009. He is the creative mind behind DormAid , an extraordinary company that enhances the lifestyle of the ordinary college student.
What is the name of your company and what is your position?
DormAid. Chief Executive Officer.
How did it get started? How long did it take to launch?
I started it my freshman year in my dorm room. It took about a year to actually form a company and have it approved by Harvard College.
What services does DormAid provide? Does it depend on your school location?
Services do vary by location. Currently we offer Laundry, Cleaning, Bedding, Water delivery, and Computer Back-up services. We are working on launching Appliances, Loans, and Testing services this year.
What are the main goals of DormAid?
I have always believed college students can engage in a higher sense of success and accomplishment, that they are limitless in their potential. I wanted to build a company that did that on the service and employment side.
How did you get the word out about your online business?
We have focused on getting a high ROI for the marketing dollars we spend, investing in our people as brand ambassadors, and focused on what messages we communicate. We have also been blessed with wonderful press www.dormaid.com/press .
Where do you see the company in the next five years? Do you plan to expand upon what you've already established?
DormAid will become the college brand for services that enable students to focus on two things- working hard and playing hard. Our goal is to get all the other stuff out of the way and let people focus on what is most important. We are expanding every semester and plowing everything we make back into improving our business.
What advice would you give to a college student who wants to start their own business?
Stay committed and don't quit. It isn't easy for a reason- life is about weeding out the really dedicated from those who think they can just get rich quickly. You have to be smart and work hard.
For further information or to utilize his services go to: www.DormAid.com
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Thursday
*THE INTERNS DESK*
Behind the music at...
Universal Music Group
Finding out by e-mail while studying abroad that I was offered an internship for the Summer of 2007 was a painless sigh of relief. Being given the opportunity to intern in the Publicity Department of Universal Music Classics Group was real and raw for me. Although I knew there would be those special, select days where I catered Cosi and Jamba Juice runs, I was thrilled to be within the inner workings of Public Relations and music. Anything involving music is incredible within itself but being able to combine that and a passion that I had long put on the backburner was my idea of perfection.
Of course to no surprise, my internship started off rocky but once I got the gist of manning the copy and fax machines, putting together artist’s press kits and communicating with the head honchos via instant messenger, I steadily approached my comfort level. I would begin the day around 10:00 AM and be met with an obscene number of press kits to be sent to journalists worldwide. But this surely was not your ordinary pre-addressed mail. I had to make copies of additional sheets that had to be placed inside the press kit and securely place the sample CD onto a little, round plastic circle, the most overwhelming experience ever. Then, I would place the kit within an envelope and address and UPS it. Sometimes CDs were watermarked and I had to match the address with the name on the CD, which took an extra two minutes per press kit. It all had to be done within the course of three hours.
Lunch would roll around and I would join my boss and her friends from upstairs at Def Jam or Island for lunch. Lunch was my time of relief because I was occupied with listening to ridiculous office gossip and black girl tribulations in the lives of twenty-four year old music industry assistants. But I loved every minute of it. Short there after, I'd find myself back in the office finishing up a mailing and if I was lucky, contributing to the editing of a press release for the Publicity Director. It's hard to find the joy in completing all the tasks that everyone passes off as the petty work but when you know it's placing you that much closer to where you aspire to be, it's glorious.
There were various perks to the job that were amazing. Whether having the beautiful experience of touching elbows with Jay Z on two of my elevator rides down to lunch or attending various Def Jam/ Island artists’ album listening sessions, I never took my experience for granted. Breaking into the music field is extremely difficult today, especially when you consider the deteriorating state of CD sales and music executives who rely on ringtone sales in order to make a significant profit. Public Relations is an area that I would definitely love to continue in just because I appreciate all the various fields that it taps into. It’s a combination of writing, editing, music, networking and strategizing, which is very similar to Publishing. My experience has helped me to realize what exactly I desire in an enjoyable career and the path that I’d like to take in order to get there. Honestly, right now at the age of 21, there are so many choices that fall between graduate school and the work world that it’s the perfect point to take time out in order to figure out what your idea of success is and where you want to be ten years from now.
Written by Caroline White, Wesleyan University '08
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THE INTERNS DESK™
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Sunday
Don't just stand on the street. OWN IT.
Who are the founders?
Debola Badejo
Stephanie Durden
Morènikè Mougni
Nicholas Jordan
Whitney Wilcher
How did it get started? How long did it take to launch it?
We created Get on the Street during the fall semester of 2007 after completing successful internships at five of the most prestigious financial firms on Wall Street: Barclays, Citigroup, Credit Suisse, Lehman Brothers and Merrill Lynch. During the internship-recruiting season, we realized the difficulty of securing these competitive internships and wished to improve the process for minority students by building relationships with firms and mentoring students. What initially started as a forum to exchange information from various investment banks turned into a mentoring, training, and networking program called ‘Get on the Street’ sponsored by many top financial companies as well as successful entrepreneurs.
Where are you based?
What are the goals of your project?
Get on the Street endeavors to:
Offer a platform for minority students to interact and network with alumni working
at financial institutions
Disseminate information about scholarship opportunities, internships and career development programs in the financial services industry
Provide mentors with relevant internship experience
Conduct resume critiques and mock-interviews in conjunction with the University Career Services
Partner with financial firms to support their existing diversity recruiting efforts
Do you feel that your project will be an inspiration to others?
We hope that our project will be an inspiration especially to financial services firms to expand their existing diversity recruiting efforts.
Do you plan to expand to other business ventures upon completion of this project?
We are graduating fourth years, but we all plan on working together to help sustain and grow this program, not only at The University of Virginia but also at other colleges and universities. Right now we do not have specific plans for future ventures but perhaps our paths will cross in the future and we will have the opportunity to start another project!
What inspires your entrepreneurial spirit?
Our entrepreneurial spirit was inspired by the opportunity to help our fellow students.
For more information check out http://www.getonthestreet.com/
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Saturday
You want more? I can do that.
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Labels: About Us
Thursday
What are YOU doing with your life?
This evening, I attended the annual dinner for Do Something, a non-profit organization focused on making young people active citizens. It is a an ever-growing movement that affects the lives of millions of young people across the nation. The event was held at E-Space right here in New York City. It gave specific recognition to finalists for the BR!CK Awards, which is a nationally televised event that rewards young social entrepreneurs with $10,000 in grants and scholarships. Of course there was a bit of star power in the room. I managed to grab a moment with a few of the celebrities that believe in “doing something”. They were a nice addition to a night already capped off by the power of young minds. Get up and dosomething.org
Nick Jensen, a force to be reckoned with on the Do Something team
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Labels: Events
Sunday
William Fikhman: Owning the Business of Online Business
William Fikham is a senior at California State University at Northridge. He is exploring the entrepreneurial world of online business with his recently established company, ISold It.
What is the name of your company and what is your position?
The name of my company is iSold It. I am the Owner, CFO and General Manager of my business, however as a small business owner you wear many hats and that makes the experience both enjoyable and rewarding. What makes it challenging is that you never know when you might need to put on a different hat, how long you will need to keep it on and when you might need to change hats at a moment's notice. My daily experiences in the business are diverse - I may be speaking to someone on line one as the CFO, then get another call on line two and speak to that person as the Marketing Manager or Advertising Agent. I may then need to return a call as a Customer Service Supervisor, hang up the phone and now as the Shipper make sure a package goes out urgently.
How did you come up with this idea? How long did it take to launch?
My brother, who is now also my business partner, came across the idea of an "eBay Drop Off Store" while reading Entrepreneur Magazine. We thought the idea was brilliant, made sense and was a business we could operate. We immediately started looking into purchasing a franchise because we wanted to be a part of large scale marketing and a national brand name. It took about a month to do our due diligence before buying into the franchise, six months to find a location, build our store and open for business. Where is it based? We currently have two stores in Tarzana, CA and Agoura Hilla, CA.
What are the goals of your company?
Our primary goals are to build the brand name and raise awareness for iSold It and the eBay drop off store industry in general. Our secondary and more personal goal is to open additional stores and build this business into a $5 million operation.
How did you market your company?
We have experimented with just about every form of marketing you could imagine or read about in marketing books. From TV to postcards, local coupon books to pay-per-click ads, we have explored a plethora of options. Today, we continue to market using cable TV, internet advertising, yellow pages, direct mail and direct sales (cold-calling and knocking on doors) to businesses. Word of mouth continues to grow as more consumers try our great service for the first time, then tell their friends and family once they get a check! People love it once they try it!
Where do you see the company in the next five years? Do you plan to expand upon what you've already established?
In the next five years, I see the awareness for iSold It and our industry growing tremendously. As this happens, I see us opening several more stores and perhaps warehouse locations to serve the surplus and liquidation side of our business. I think in today's world if you are not expanding, you are shrinking. Change and growth have to constantly happen in order to achieve success.
Any words of wisdom for other students who are pursuing their own business?
The best words I can offer you were told to me by a Domino's Pizza franchisee of 14 stores. She said, "Whatever you do, don't give up. You are going to have your good days and you are going to have your bad days, but don't give up." But I would also advise other student entrepreneurs to always keep learning. Read a lot. Read everything that relates to business and your industry - magazines, local and national papers and books that interest you. Also, I believe its critical to surround yourself with people who are smarter and better than you because that is how you learn. Everyday I keep learning and applying things to my business. Over a long period of time I can see how what I learned directly materialized into success and growth in my business.
For more information, check out http://www.i-soldit.com/
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