Glen Wakeman has left his mark on the business world, and it certainly is extraordinary. Glen embarked on his path to greatness at the University of Scranton in Pennsylvania. He received his Bachelor of Science degree in Economics and Finance at that institution in 1981. His next step was to enter the University of Chicago in 1991. There, he earned his Master of Business Administration degree. His time spent on these two campuses helped show him that the only place he wanted to be was in the world of business.
Glen’s MBA gave him the opportunity to begin a 20-year career with General Electric that has led to several exciting adventures. He had the chance to live in South America, Asia, and Europe for 15 years where he started at the bottom and gained a considerable amount of experience in jobs that gave him an increasing amount of responsibility. He had positions in regional management, country management, general management, business development, technology, and operations.
While with GE, Glen moved to London, England, where he became the General Director of GE Capital, Global Insurance Ventures. While there, he was in charge of setting the strategy that several businesses used to increase their net income from $2 million to $3 billion in assets. He was also the Chief Operations Officer for a GE-owned company called “Consolidated Financial Insurance Group” and Director of Business Development for GE Money.
The last job that Glen held for GE was as the CEO of GE Money Latin America. In this position, he was charged with building a nine-country operation from the very beginning to the top. At the end, this entity’s assets were equal to $12 billion with $100 million in revenue a year. The company had also grown to include 17,000 employees.
While he was with the company, it grew to include more than 1,000 branches. Glen also was involved in the production of several of the company’s products, and he played a role in signing several partnerships.
Over the years, Glen Wakeman has learned what it takes to become the leader of a successful business, and he has become a mentor to young entrepreneurs who want to do what he has done. The desire to help these entrepreneurs led him to co-found LaunchPad Holdings (https://www.crunchbase.com/organization/launchpad-holdings-llc).
Glen had been hearing what he believed were several good ideas from people who wanted to make those ideas come alive. He started to wonder why businesses were failing at such a high rate, and he set out to discover the reason. He found that although the ideas were good, they didn’t have any structure around them. Glen believed that in order to make these ideas work, the entrepreneurs needed a plan. That’s when he got the idea of creating software that would help entrepreneurs build the plan that they desperately needed.
The Five Elements
New businesses need to have a financial plan, and Glen has eagerly provided it with several tools that his company produces. New entrepreneurs also receive what is known as “The Elements.”
The first element is “Leadership.” The first thing that Glen Wakeman does is help entrepreneurs become better leaders. After they are comfortable with their own personal styles of leadership, they can learn how to take their employees through the changes that are inevitable. The second element is “Human Capital.” Here, entrepreneurs must learn how to put their employees’ strengths to good use.
The third element is “Execution.” This is when the leadership brings about positive changes that lead to the company’s success. The fourth element is “Risk Management.” The leadership must ensure that any possible negative outcomes that are brought about by the changes do not cause the process to be disrupted. The fifth element is “Governance.” This is when people in the company feel comfortable with expressing themselves because the environment encourages that expression.
With the five elements in place, Glen had a foundation for his system that can be used by anyone in any area of business. It was important for the system to be easy, and many people have stated that they are surprised that the application appears to have everything. Entrepreneurs are never left guessing because the system has an answer for every problem that comes up. As Glen was creating his software, he wanted to ensure that it would be affordable for everyone and that it shouldn’t take a huge amount of money to purchase because every company needs to keep costs down.
On top of creating software that aids people in their entrepreneurial pursuits, he also works as a consultant. Glen has a talent for taking a look at a company and discerning what it needs to do to improve its performance. It all depends on his above-mentioned five elements.
Glen is also aware that success in business requires that an entrepreneur believe in his or her ability to succeed. He requires that these people prove that they are capable of leading others by taking the risks themselves before they try to convince other people to follow them. If they are unable to make decisions and live with them, Glen doesn’t believe that they will be able to move forward in a business sense. That’s why one of the things that Glen encourages his students to do is take on tasks that make them uncomfortable early on in their careers as entrepreneurs.
Glen teaches his students that they must risk making mistakes in the beginning when they will be able to learn from them. If they wait until after they have achieved a level of success, the mistakes that they make at that time may be potentially devastating. True leaders can know that there are risks in business, but they move forward with their plans anyway, and they have an advocate in Glen Wakeman who supports them in taking those risks.
Glen Wakeman is also an ardent blogger who shares his thoughts on several subjects, such as international fiscal matters, emerging markets, management, and administration.