David Zalik is the CEO and co-founder of the incredibly successful GreenSky Credit, a lender specializing in business loans used to help companies grow and homeowner’s achieve their dreams. This powerhouse company was operating from David Zalik’s basement where it has grown to boast a $3.6 billion dollar valuation. Today, David still owns over half of GreenSky Credit, which has propelled him to incredible wealth.
A Unique Approach
One of the reasons why GreenSky Credit is so successful is because of their unique approach to business. They are able to harness the power of third parties to do all of the labor-intensive work, while they are able to cash in on the profits from the endeavor.
In many instances, GreenSky Credit enlists the help of home contractors to market the loan to the homeowners. GreenSky then obtains funding from any of their 14 different partnering banks. GreenSky makes a profit from a percentage of the loan amount and also is paid a percentage of the yearly balance of the loan through the funding bank. Essentially, GreenSky is paid to service and generate the loans for the banks. They are the middleman between the homeowner and the bank while working through the contractor.
GreenSky Credit has managed to capitalize on a niche they created and has generated 1.2 million customers with unsecured loans since the company began in 2012. Estimates of performance by market experts predicted that the company would see in excess of a 25% profit margin, which is partially based on their performance in the last 5 years.
David Zalik’s vision for his company and a groundbreaking approach to lending has created a healthy environment for his company to continue to prosper. He started from humble beginnings assembling computers in college to working his way up to becoming a business visionary with his sights set on the future.
What exactly does my child do all day in school? Although parent-teacher conferences can provide a picture of a child’s life in school the conference can be a very incomplete picture. A child’s teacher has a lot of students to keep tabs with, each with their own individual educational and behavioral challenges. Such conferences are very infrequent too, leaving gaps of time left uncovered and not discussed. Thankfully, there is a new communication platform that benefits parents, teachers, and children alike.
The ClassDojo is creating community where there was little before. Instead of being updated semi-annually on their child’s progress, parents can monitor their child’s work in real time. ClassDojo allows the child to scan their work into a database which the parent can access and view at their leisure. Whether it’s a story, a painting, or a math problem, a child can upload all of these with ease to their portfolio. And logging on is simple. There’s no need to remember login credentials, a child merely has to scan a code to access their portfolio.
With its powerful capabilities, ClassDojo is creating a positive culture with classrooms and schools. School is no longer a place of mystery for parents where they hope their children are getting the education they need. There is no need to rely on updates from children when all they want to do is play and relax when they get home from school.
ClassDojo has instituted a ground-up change in the way parents and children view progress. A child who is struggling in a subject can see more positive progress with ClassDojo than if the child judged his capabilities through test scores alone. Even if there is little improvement in the tests, the child and parent can observe other signs of improvement in the classwork the child uploaded to his portfolio. And little improvement is better than no improvement at all, providing a boost of confidence for the child.
Teachers, parents, and children all experience a revolution in communication and empowerment in the school world with ClassDojo. With ClassDojo the parent can feel like they are in the classroom with their child. Teachers can know that parents are seeing the material their child sees which can prompt productive conversation at the dinner table in terms of their child’s academic activity. Everybody wins with the ClassDojo-parents stay informed, kids show off their work, and teachers have a window into their classrooms. ClassDojo is the educational device of the decade.
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