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Thought Leadership Strategies for Industry GrowthAs we prepare for 2017, eight Chicago-area thought leaders have shared key insights about their industries with Crain’s Custom Media to help you determine the right mix of professional services you need to succeed in the year ahead.

From emerging IT challenges facing corporate clients to small-business succession planning to securing the right corporate financing mix–and beyond–Industry Leaders 2017 is designed to answer some of your most pressing questions and give you a leg up.

BELA GANDHIFounder + President

Smart Dating Academybela@smartdatingacademy.com

312-404-1535

INDUSTRY LEADERS

2017

THOMAS E. JONESManaging Partner

Concord Financial Advisors, LLCtomjones concordfinancialadvisors.com

312-759-9900

FINANCIAL ADVISORS, LLC

MICHAEL CYRSWealth Transfer Advisor

Savant Wealth Managementmcyrs@savantcapital.com

815-227-0300

JOHN T. SHAVECEO-Strategist

XTRACOMjohn@xtracom.com

312-667-0804

MICHAEL CONLEYExecutive Vice President

Forsythe Hosting Solutionsinfo@forsythe.com

800-843-4488

PETER HULICK, MDMedical Director

NorthShore University HealthSystem Center for Personalized Medicine

Center for Personalized Medicine

CON

GRATU

LATION

S

Congratulations Erica Edwards, The Joffrey Ballet’s Director of Community Engagement, on being named one of Crain’s 40 under 40.

We salute your leadership, passion, and commitment to excellence that inspires and impacts the lives of Chicago’s youth.

joffrey.org

A S H L E Y W H E AT E RA RT I S T I C D I R E C T O R

G R E G C A M E R O N E X E C U T I V E D I R E C T O R

MATT SINGLEYCo-Founder + Managing Director

Pinnacle Furnished SuitesContact inquiries@pfsuites.com

312-313-1604

MICHAEL S. BROPHY, PHD, MFAPresident

Benedictine Universityben.edu

630-829-6000

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INFORMATION TECHNOLOGY

What are the major IT challenges businesses are facing?

In today’s business climate, market disruption is the norm. The Davids are beating the Goliaths. Fast fish eat big fish. Cyber attacks are damaging brands. Yet IT is fighting for relevance and budget as internal clients with heightened expectations increasingly go outside the company for IT services. Corporate IT typically spends 70 to 80 percent of its time on keeping the existing IT environment running effectively. Further complicating matters, there’s a significant skills gap in the industry, meaning it’s hard

to get the right people in-house. The companies that succeed will be those that can figure out how to optimize, modernize and innovate their technology—in spite of all this—to become the most agile, secure digital businesses.

What are the hallmarks of an agile, secure digital business?

Every business that gains or loses competitive advantage based on any or all of the following—its information systems, data and analytics, customer-facing portals and apps, supply chain and the interconnection of these elements—is or needs to be a digital business. The information that’s the flowing lifeblood of that business needs to be secured from attack and theft at all times, in all locations and while in motion. An agile business is one that can continually jump into new windows of opportunity, seize the market and deftly move onto the next opportunity using high-performance technologies that can scale and adapt quickly.

How can a business achieve this vision?

It’s never easy. And no one benefits from going it alone. The ever-increasing complexity and pace of innovation of technology has made today’s IT world one of partnerships. The “cloud” is not a place in the sky. It’s an approach that enables companies to focus on their innovation strategy by handing off more of the day-to-day management and technically complex execution to service providers, skilled technicians and consultants who have experience handling such challenges every day for multiple companies looking to solve similar problems. For example, our clients used to look to us just for technology consulting, selection, procurement and financing. We now also provide security, migration services, hosting solutions, managed services including backup as a service, and enterprise-class colocation—through Forsythe Data Centers, our Retail+ facility in Elk Grove Village—because clients increasingly want to hand off those elements of day-to-day IT operations.

How do IT partner relationships pay off?

It’s not unusual for companies to ultimately see a 20 to 30 percent cost savings when they engage with a managed hosting and managed services partner. Organizations frequently tell us they see a lower risk profile, higher staff morale and more stable IT environments—not to mention more time to focus on strategic innovation projects. Another cost-effective hand-off is in the area of backup and recovery. The lifeblood data mentioned earlier needs to be backed up securely every day for most businesses, but it’s not strategic work for their staff. In response to client demand, we developed several offerings this year to enable companies to put their backup and recovery in our hands. One, developed jointly with our partner Veritas, is specifically for companies who want to leave the management to us while keeping the equipment and the data on-site.

MICHAEL CONLEYExecutive Vice PresidentForsythe Hosting Solutionsforsythe.com

FAMILY BUSINESS SUCCESSION PLANNING

What’s the starting point when structuring a family business succession plan?

Assemble a team of advisors with multidisciplinary estate planning experience, who can focus on tax and non-tax issues alike. They’ll need to address complicated corporate and individual income tax issues, and model alternative scenarios. The synergies that result from such an arrangement benefit everyone, including the advisors. Collaboration enables them to vet ideas and solutions in a broader context. They can scrutinize strategies and solutions from a variety of legal, financial, tax and other viewpoints.

What role do transfer taxes play in the successful transfer of a family business?

It’s the most important factor affecting a successful business succession strategy. The federal estate and gift tax exemption is now $5.45 million per person, and the Illinois exemption is $4 million per person. These historically high levels provide an opportunity to transfer significant wealth to future generations without them having to incur significant estate tax liabilities. Note, however, that it’s still preferable to transfer business interests during lifetime rather than at death. Not only do such transfers avoid Illinois transfer tax, but they can be accomplished at significant valuation discounts. Transfers during lifetime also provide time to involve other generations in the family business while the first generation is still around to clear up any misunderstandings that may arise among family members.

Is it possible to retain control of the business assets while implementing a succession plan?

Yes. Important considerations are the timetable and method for retaining and then releasing control. Transfers can often simply be accomplished by re-characterizing stock, creating voting and non-voting interests, then transferring only the non-voting interests. Founding generations might also consider transferring the operating business, while maintaining building and equipment inside an LLC or similar entity and leasing those assets to the family business to preserve required income streams while still transferring the underlying assets.

Is it possible to design a business succession plan that instills future generations with your values?

Absolutely. You can create written legal instruments, such as succession plans and redemption or cross-purchase agreements, that provide direction regarding how you want your assets disposed. Many people, however, view their business and wealth as more than money and possessions. These individuals supplement their succession plans with strategies, provisions and directives that transfer what they believe to be “true valuables” – namely, their wisdom, guiding principles, spiritual beliefs and family heritage. They may want to consider asset protection trusts for children, education trusts for grandchildren, and charitable trusts to address philanthropic objectives.

Please see Important Disclosures at savantcapital.com

MIKE CYRSWealth Transfer AdvisorSavant Capital Managementsavantcapital.com

CORPORATE FINANCING

How important is it to use a corporate finance advisor to source debt financing for businesses?

The right advisor can save a company a significant amount of time and money. It also allows the organization to continue to focus on its business rather than the complexities of financing it.

What should companies seeking corporate financing look for in such an advisor?

The most important qualifications are deep relationships, a stellar reputation and unparalleled results in providing a wide spectrum of debt/capital solutions, including asset-based, cash flow, bridge,

SBA and others types of financing. Concord has more than 100 years of collective corporate finance experience, including long-term relationships with over 300 diversified capital providers throughout the United States. Since 2001, we’ve closed more than 150 transactions across a wide variety of B2B manufacturing, distribution and service businesses totaling over $1.3 billion. We’re especially proud of our more than 90 percent success rate in closing deals.

Another consideration is compensation and the flexibility to structure a fee arrangement that works for everyone. We use a “success fee” model, where we get paid most of our money when a deal closes. Our clients (companies, private equity and independent sponsors and family offices) tell us that we have the most competitive fees in the industry for the service and expertise we provide.

Finally, companies should check what the firm’s clients say about their relationship. A firm’s best spokespeople should be its clients.

What should companies expect as they work with a corporate finance advisor?

If they work with Concord, they get a one-stop approach, where we manage the transaction from beginning to close while they continue their business as usual. We begin with a no-cost assessment of the company and prescreening of potential capital providers. We then handle a long list of details including introducing lenders, sourcing and negotiating lender proposals, managing due diligence and ensuring that the deal closes.

What are the benefits of using a corporate finance advisor, even if a company has a CFO or an existing relationship with a bank?

Today’s credit environment is more challenging than ever, and finding the best capital provider can be complex and time-consuming. Lenders vary widely regarding things like approval processes, credit policies, loan preferences/structures, rates and fees. Concord can quickly identify lenders offering the most creative financial solution and transaction terms. We know the decision-makers at numerous capital providers and can leverage those relationships to obtain credit feedback and loan approvals faster than companies can do it themselves.

Furthermore, we understand how to structure a transaction to fit the lenders’ specific credit criteria and how to tell a client’s story in language that lenders understand.

Most importantly, we save our clients a significant amount of time and money as we run the entire financing process and negotiate every aspect of their transaction to ensure that their savings are maximized – savings that typically exceed fees paid to Concord.

THOMAS E. JONESManaging PartnerConcord Financial Advisors, LLCconcordfinancialadvisors.com

UNIFIED COMMUNICATIONS

What is unified communications and how can it benefit my business?

Unified communications (UC) integrates services such as VoIP, messaging (email, fax and voice), web conferencing, presence information and mobility features. It’s actually a set of products that provides a consistent user interface and consistent user experience across multiple devices and media types. Individuals can send a message on one medium and receive the communication on another. Businesses switching to UC reduce their operational costs by a minimum of 50 percent. They also gain new features and the latest models of phones, apps, routers,

Wi-Fi access points and more. As a provider of UC, TRACOM supplies everything so that clients get the latest features with no upfront cash outlay, and with a single payment each month.

Why is now the time to replace old phone systems with a hosted UC solution?

The phones and network switches most telecom providers supply are obsolete; four telecom providers in Chicago alone have this issue. Old office phones are expensive to maintain, and in most cases, you can’t get replacement parts. They’re not designed to meet today’s business communications demands, and you’re probably paying expensive, per-minute long distance charges. Obsolete switches put your business at risk, because a failure can interrupt your company’s Internet and communications. At TRACOM, we invest in the technologies that provide maximum security, and in multiple data centers to guarantee excellent call quality. We offer a feature-rich solution with no ties to the end-of-useful-life old-world telecom switching platforms. It’s a simple solution with a per-seat monthly fee, and no charges for local or long distance calls.

How should you select a UC provider, and what can you expect in the transition?

Look for one that employs local engineers and customer support, and that has leadership you can trust. Select a company that understands the nuances of your call flows, and takes the time to discuss how you can transition. Confirm that you’ll have post-installation engineering and support, since you’ll suddenly have many new features at your fingertips. Many providers ship “phones in a box” – a scenario that can lead to a disastrous transition to UC. Find a source that can include the new phones, routers and wireless access points onto a single invoice. A quality provider will offer cloud PB , broadband and managed Wi-Fi as part of the solution. One-off piecemeal solutions can create stress and challenges for your business. If you select the right UC provider, the transition will be seamless and can take as little as a week.

What excites you about the future for the UC industry?

Since I got into the field 24 years ago, UC has gone from early adoption to early mainstream. We’ve just barely tapped the $75 billion shift from outdated telecom technology to cloud-based communications. As a company, we’re well-positioned with world-class strategic investors and partners, and dedicated team members. We’ve invested in the latest technology and have a market-leading product portfolio. We have a fast-growing client list, and we’re saving them money every month. In the end, the excitement is in the execution, and taking care of the client.

JOHN T. SHAVECEO-Strategist

TRACOMxtracom.com

2017 Industry Leaders

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CORPORATE HOUSING

Tell us about Pinnacle Furnished Suites. What problems do you solve?

We established our company three years ago to fill a market need for corporate luxury, fully furnished housing available for a reasonable price in the downtown areas of Chicago. Corporate housing is defined as a stay of 30 or more days, and differs from “bed and breakfast,” “vacation rental,” or “nightly stays.” Anyone who desires fully furnished apartment accommodations while in the Windy City for work, or while waiting to purchase/renovate a home, or any other reason should consider the benefits we offer compared to a typical hotel extended stay. Full kitchens, spacious layouts, luxury amenities, and an “at home feel” await you! As a spin-off of

Chicagoland Property Group, a full-service residential brokerage, the necessary professional relationships and real estate knowledge were already in place at the onset.

With managing broker Collin Walker’s real estate knowledge, and my engineering background and technical training, we knew we could create something special in a market needing innovation. What we didn’t know at the time was just how efficient and successful the endeavor would become. In the short time since beginning operations we have grown from a few units to almost 150 suites we manage in downtown Chicago. Our full-service, digital approach, and proprietary pricing algorithms have promoted our growth into one of Chicago’s top corporate housing companies while maintaining lower than average pricing. Significant investments in HD photos, 3D walk-throughs, detailed listings, and our skilled and dedicated team allow us to do nearly 90 percent of our leases “personal sight-unseen,” which keeps costs down and quality higher.

What do you envision as your growth plan?

Our growth has been limited only by our ability to keep up with demand. We have a direct team of six employees now and several third-party services involved in our ongoing daily operations. Our focus on minimizing vacancy, and therefore pricing, keeps our clients coming back. By focusing on only the downtown market–River North, the Loop, West Loop, Gold Coast, Lincoln Park, the Fulton River District, and Streeterville–we can maintain efficiency within our geographic niche. As more folks learn what corporate housing offers compared to a traditional hotel, we see the market continuing to expand for our industry and Pinnacle Suites specifically. We believe we can comfortably manage 200-250 fully furnished apartments in the downtown Chicago market over the next few years. After we achieve this goal we will look toward regional and/or national expansion.

How is Pinnacle Furnished Suites changing the industry for the better?

Traditionally the real estate and corporate housing industries have lagged the overall market in technology and innovation. Our focus on transparency and creating a process both efficient and client-friendly allows us to be an innovator on the local and national stage. Our pricing algorithms promote minimizing vacancy, and in early 2017 we’re launching a platform allowing for instant bookings without human intervention. It’s an innovative undertaking for an industry currently having to rely on manual property management and bookings. We believe our unique approach will improve the entire corporate housing industry and promote mainstream adoption of this unique and efficient product. We intend to lead the charge in Chicago and beyond! As always, our sales manager and staff will be ready to assist with showings and in-person meetings for those clients who desire the personal touch which originally launched our success.

MATT SINGLEYCo-Founder and Managing PartnerPinnacle Furnished Suitespfsuites.com

PERSONALIZED MEDICINE

What is personalized medicine, and why is understanding our genomic makeup important?

Personalized medicine is a healthcare game changer. It uses a person’s unique genetic characteristics and family history to customize care and treatment. With a patient’s DNA, we can analyze that individual’s risk for developing a particular disease, whether it’s cancer or a cardiac or neurologic condition. We’ve always used family history to provide some of these clues, but by performing genetic testing, we can learn whether you’ve inherited the risk, and if so, can make alterations to your medical care.

What makes the NorthShore Center for Personalized Medicine unique?

NorthShore offers nine specialty clinics in personalized medicine: neurology, diabetes, cancer, genetics, urology, cardiology, high-risk breast, familial genetics and pharmacogenomics. We offer a range of genetic testing options, from single gene testing for an unusual rare gene to whole genome sequencing. NorthShore is one of a few health systems nationwide offering a genetic health panel testing 124 medically actionable genes—segments of your DNA associated with various inherited cancers, health-related conditions and other inherited disorders that could affect your health. If detected early, there are effective medical interventions or preventative measures for these inherited disorders.

And we’ve moved from a purely “reactive” mode of genetic testing—where a strong family history of cancer or personal diagnosis of cancer triggers a genetic assessment—to one that is more proactive.

MedClueRx™, our pharmacogenomics program, is one of the first of its kind nationwide. It assesses how patients’ DNA affects their reactions to medications. On average, most patients have three genetic variants that will likely impact how they will respond to medications.

How is NorthShore’s Center for Personalized Medicine leading the way in research and shaping the future of medicine?

NorthShore is a member of the Illinois Precision Medicine Consortium, a component of the Precision Medicine Initiative’s All of Us research program. We’re working with the University of Chicago and other organizations to advance genomic studies. NorthShore is being awarded over $1 million from the National Institutes of Health to enroll 9,000 patients into this unprecedented, nationwide initiative.

How can NorthShore patients in the Chicago area get involved with genetic research?

The Genomic Health Initiative is a major research initiative studying DNA samples for genomic variants that cause disease. We’re partnering with adult NorthShore patients to build a large database of 100,000 DNA samples. These samples will enable study of the widest range of genetic variants in DNA, aimed at identifying genetic risk factors for common disorders. The ultimate goals are to develop early diagnosis, prevention strategies and personalized treatment options to ensure optimal health for individual patients.

If you’re a NorthShore patient and would like to get involved in this exciting project, please visit northshore.org/ghi for more information. To learn more about the NorthShore Center for Personalized Medicine, visit northshore.org/genomics or call 847-570-GENE (4363).

PETER HULICK, MDMedical DirectorNorthShore University HealthSystem Center for Personalized Medicinenorthshore.org/genomics

DATING

What is Smart Dating Academy, and how has it changed the dating game?

Smart Dating Academy has a new approach to helping people find love, which has helped thousands of singles nationwide. The best way to think about us is that we’re personal trainers for peoples’ love lives. We help them get better results in the dating world than they get doing it on their own, while they enjoy more success and fun. We teach people how to consciously choose partners who make them happy, instead of repeating the same mistakes over and over on the “dating merry-go-round.” Our success rate is nearly 100 percent -- and we define those goals at the beginning of our process.

How does this approach drive success?

We have a clear process, which is both fun and simple. We develop a roadmap (called the “Marriage Map”) for our clients to find the kind of person that will make them happy, and it doesn’t resemble the standard checklist. We teach them how to avoid “red flags” – including meeting people “out and about,” getting great set-ups, and using technology the right way (yes, there’s a right way). We help people avoid bad dating patterns, and put them on the course to find happy love. In seven years, we’ve been to countless weddings and haven’t had a single divorce.

Why is this a good choice for Chicago singles?

There’s a clear process, and a lot of the work is handled for our clients: we take their photos, write their profile, teach them how to write emails, and more. It doesn’t require hours and hours; with the right goals, the right skills and a good dating plan, it can happen in around 30 minutes per day. We “teach clients how to fish” and keep them accountable, so that they’re getting the results they want – and meeting high quality singles. We work with men and women of all ages – and have seen love happen across the board.

Can online dating really work for successful professionals?

Yes. There are approximately 107 million singles in the United States, or 43 percent of the adult population. Statistics show that one in three marriages take place as a result of online connections. Think about online dating as the world’s largest cocktail party – and that’s a party you want to attend. For online dating to work, you’ve got to know which sites and apps are best for you, and you’ve got to have the right type of photos, profile text, search parameters and messages -- which we provide to our clients. We’ve had great success with our clients because we provide them with a customized strategy with the best tools. Each client has a coach working with them, keeping them feeling inspired and safe. They know they have a professional confidante throughout the process, without the need to rely on well-meaning friends or family.

BELA GANDHIFounder and PresidentSmart Dating Academysmartdatingacademy.com

CATHOLIC HIGHER EDUCATION

What curriculum advances do you see for Catholic higher education in 2017?

At Benedictine University, we seek to provide a transformative and integrative educational experience grounded in Benedictine values, helping students shape lives of meaning and purpose. We advocate for the academic freedom of faculty and students in inquiry and research, but also insist on ethical responsibility and an emphasis on research and activities that promote human betterment, peace, justice and the common good. These concepts are introduced to traditional undergraduates as freshmen

through two mandatory interdisciplinary seminars – Catholic and Benedictine Intellectual Traditions, and Human Dignity or the Common Good – and are reinforced throughout a student’s academic career, whether they are a traditional undergraduate, adult undergraduate or graduate student, by integrating Benedictine values in the curriculum.

What Catholic higher education programming do you see for 2017?

At Benedictine, we support the ongoing development of Catholic social teaching and the Catholic intellectual tradition through monthly informal roundtable discussions of topics useful to living the University mission. We hold forums which allow community members to discuss new programming, explore ways we can collaborate with each other and address the University community on how our mission is being supported. Our Visiting Scholar in Catholic Thought lecture series features distinguished scholars who work within the Catholic intellectual tradition. Students, faculty and staff can also practice their faith and serve others through local, national and international mission trips; retreats at which Church doctrine and teaching are presented and discussed; and Bible study and faith sharing groups.

What changes do you expect in the Catholic higher education workforce in 2017?

As the ranks of monks, priests and nuns have diminished, the responsibility of imparting a university’s Catholic identity has fallen to lay faculty and staff. At Benedictine, in order to strategically enhance our mission and Catholic and Benedictine identity, we have developed a Hiring and Orientation for Mission Program to better delineate expectations of all faculty and staff, regardless of religious orientation, to be knowledgeable of and support the Catholic mission of the University. The program includes a series of seminars and roundtable discussions designed to empower University employees with the tools necessary to engage, promote and live the University mission in their everyday work.

What will have the biggest impact in Catholic higher education in 2017?

Benedictine is proud of the fact that we are so strongly committed to our Catholic identity, but at the same time we are committed to serving students of all faiths, particularly Muslim students. Being Benedictine and being Catholic means welcoming everyone, regardless of their faith or belief system. The fact that we do that does not go unnoticed. Even people who visit us from abroad experience it. I think it says a lot about us as a community of educators and learners who are committed to seeking truth wherever we find it. Diversity is a part of our strength. I think that will become even more important in 2017.

MICHAEL S. BROPHY, PHD, MFAPresidentBenedictine Universityben.edu

2017 Industry Leaders