Greetings, Kim here, one of your co-hosts for the MIDJersey Chamber of Commerce Business Hour, Sundays at 10 a.m. on 107.7 The Bronc and www.1077TheBronc.com. This week the business crew were joined by a special guest, Professor Edwards Adams, who is a stock broker, business owner, and an adjunct faculty member at Rider University simultaneously, and who has passed through an expansive array of businesses in his career, some self-owned and others top tier like Wall Street. He lent us his insights, experiences, and advice all derived from his expertise.
There is a synergy present between Professor Adam’s co-existing professions, where being a professor maintains a consistent basis to remain updated within his field of teaching due to shifts in the curriculum and evolution in the subject matter, while he is able to directly translate his business experience into the context of lessons. His entire pool of experiences and procedures contribute to enhance the performance in either position.
Throughout his professional career, Professor Adams has opened many businesses and he shares some of those successes and failures. Immediately after completing his academic studies as a young adult, he built a bar and a restaurant. The biggest mistake he made initially was not for accounting for deviations from standards or setbacks like theft, employee-fights, etc. All of these reduce profitability, especially since these were corporate scenarios his knowledge base was not trained to anticipate, strategically mitigate or work around, nor compensate for. On the other hand, successes manifested in the form of creating a client base to perform tax services when local commercialized tax services couldn’t keep up with the demand.
As a stock broker and CPA, Professor Adams expresses the differences between accounting services and financial, where accounting advisory can include strategy and maximizing a firm’s assets and profits through past and current data, and where investments require analysis of a market, quantified surmises, and the maintenance of a portfolio, and gains on commission.
Our show with Professor Adams might be one of our best yet. Don’t miss it. And don’t forget to tune in every Sunday at 10 a.m. to find out what interesting topics we will be discussing next. Remember, you can always listen to the MIDJersey Chamber of Commerce Business Hour online atwww.1077TheBronc.com and via our free Android and iOS apps. If you’d like to be a guest on the show please email any of our three student hosts: Kim Gordon, Angel Reyes or Timia Thomas and we’ll be happy to talk about your area of expertise and business.