Rory Brown

Always take money off the table, there is always another opportunity.

 

Rory Brown is a Managing Partner of Nicklaus Brown & Co. and the Chairman of the Board of Directors of Ad Genius, Armada Cloud, Goods & Services, and Nearshore Technology Company. Brown works with the leader of each organization on strategic initiatives, capital planning, sales and marketing, and technology initiatives focuses on improving the client experience and maximizing operational efficiency. Brown’s committed approach to working with management allows each company to focus on creating value for all stakeholders.

An innovator and entrepreneur, Brown launched one of the first Internet banking companies. As a founder and Chairman of VirtualBank, Brown’s decision to use Windows 2000 as the platform allowed consumers to access their financial accounts and transactions online through a single integrated interface. VirtualBank has garnered him a reputation as an entrepreneur and innovator and featured by Microsoft at events and in the media.

Brown was named Financial Services Entrepreneur of the Year by Ernst & Young in 2002. Brown has been featured in several known industry publications including Money Magazine, INC 500, and The Economist.

Brown received an MBA from the University of Charleston and is a Certified Public Accountant.

Where did the idea for your company come from?

We were interested in building a platform that enabled entrepreneurs to bring ideas to market rapidly.

What does your typical day look like and how do you make it productive? How do you bring ideas to life?

Very casual meetings focused on helping our leaders capitalize on opportunities and solve problems.

What’s one trend that really excites you?

Programmatic marketing – the ability to deploy technology to increase sales.

What is one habit of yours that makes you more productive as an entrepreneur?

Making a short list each morning of the things I want to accomplish that day.

What advice would you give your younger self?

Always take money off the table, there is always another opportunity.

Tell us something that’s true that almost nobody agrees with you on.

Starbucks should have focused on their Mobil payments platform.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

Be realistic on financial projections – there is not a penalty for exceeding them.

What is one strategy that has helped you grow your business?

Focusing on the contribution margin of each product or service before fixed costs. If you don’t have a positive contribution margin per unit, it is hard to make it up with volume.

What is one failure you had as an entrepreneur, and how did you overcome it?

If you haven’t failed, more than likely you are not playing. The real challenge is rallying after the setback.

What is the best $100 you recently spent? What and why?

Buying my wife Roses, and her mentioning that I should stop for a moment and smell them.

What software and web services do you use? What do you love about them?

The Apple Health App. Very simple. Makes sense to be around and enjoy life.

What is the one book that you recommend our community should read and why?

“10,000 Hours” by Phyllis Lane. It makes sense that with effort and discipline you can achieve anything.