Failure Is An Excellent Learning Tool Says Philadelphia Manager
Alan Rihm is the CEO of Philly based cloud communications company CoreDial. A nine-year-old company, CoreDial is growing at an unprecedented rate and most of its hires will be engineers and software developers looking to add additional products and tools. Rihm is very optimistic about the future of the Philly Tech scene. He believes that Philadelphia has all the raw ingredients - world-class universities, talent, investors - to become a massive hub for tech and innovation.
What is your educational background?
"I graduated from Drexel University in Philadelphia, PA with a B.A. in Business Administration."
What is your background in management?
"I've been an entrepreneur since 1995. I was laid off my job in technical sales, and while I had multiple job offers within days, I choose to take a chance and seize the opportunity. I had the workings of a business plan and used the severance package timeframe to finalize the business plan, and submitted for Small Business Administration (SBA) funding. I received a $100,000 SBA loan, put my house on the line, and went for it. I guess you can say that I drove the boat up to the beach and burned it. In September of 1995, I started an internet service provider and never looked back. The company was ultimately invested in and then acquired by Verio. I assisted with several other acquisitions in the region, and then became GM for Verio Philadelphia, where all the acquired companies reported into my office in Horsham, PA. That was my boot camp for management. I went from being a first-time entrepreneur, with a curly head of hair, to assisting and managing the integration of four companies, cultures, networks and customer bases. Needless to say, I'm completely bald today. I went on to found and grow an application service provider, or ASP, and a software company. And in 2005 I founded CoreDial. Now, I'm applying all I've learned over the last 20 years to help CoreDial to maximize the opportunity."
How has your education fueled your management success?
"My education at Drexel University, combined with the co-op opportunities, helped me to learn how to learn, how to be independent, how to think outside the box, and how to be an advocate for change. I honestly don't know if it was the university, or that combined with all the life experiences that come from college, working at companies like Xerox, or from having business successes and failures. I suspect it's a combination of all of the above.
What advice would you give someone just starting out in your field?
"My advice to budding entrepreneurs is to think big and be willing to change the world, but surround yourself with people with experience who can be your mentors. Learn how to listen, really listen. Most entrepreneurs say they listen, but they've made their minds up before the advice is even given. At the end of the day you need to decide what to do with the advice, but if you don't truly listen and give careful consideration to your mentors and advisors, you are making a big mistake. They won't always be right, but often there are amazingly good nuggets of advice, or flat-out best practices, that you can leverage for your businesses success."
Christina Thompson is a freelance writer living in Philadelphia. Her work can be found at Examiner.com.