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Sunday, Oct 6, 2024

A Discussion: Generations Debunk Stereotypical ‘Gap’

One might assume there’s a ‘generation gap’ between professionals in their 20s and 30s and those in the 50 and up category. This may be true in some cases. But when it comes to succeeding in business, the two share a surprisingly large number of similarities. This was evidenced in a series of telephone conversations with Jeremy Barbakow, senior VP of NAI Capital and Tracey Rosen, president and CEO of Productivity Public Relations. Both are Business Journal 40 Under 40 honorees. A Business Journal reporter also chatted with Jack Feldman, president and CEO of First Commerce Bank, and Mel Kohn of Kirsch, Kohn & Bridge accounting firm to get the view of an older generation. Is education, such as having an advanced degree, critical for success? “The most important part of education is less what was learned than the doors the degrees opened for me,” said Feldman, adding while he studied economics in college he never imagined he would end up in banking. “Banking was one of those industries I had no interest in.” But right before graduating a friend approached him about interviewing with a bank, and Feldman accepted. He never looked back. Feldman eventually obtained his MBA, but for personal reasons rather than professional development and advancement. Barbakow had a similar experience. He obtained a degree in molecular biology and ended up in commercial real estate. “I don’t think any education qualifies you to do a job,” he said, “but it means you’re a higher achiever and have the ability to think critically.” How important is technology in the workplace? “When I started in public relations, everything was still snail mail and faxing, but now technology is every minute of every day,” said Rosen. All of the agency’s clients prefer using social media such as Twitter and Facebook. And digital technology has allowed the firm to work with more international clients. Rosen still gets on the telephone for some old school story pitching to the media. But the firm recently launched its own Facebook page and some reporters proactively approach her now. Kohn admits he’s not the most technology savvy guy and relies on the younger generation to keep the firm up-to-date. “Technology was at a much different level when I was getting started; we had an adding machine,” he said. But he said staying current is a must, because accounting software has greatly boosted efficiency. However, one should not rely solely on a computer program for complex transactions such as commercial real estate. Feldman was one of the first to install an online/real time banking system in the industry. “Technology plays an exceedingly important role,” he said. “It always has and it always will because it increases productivity and the quality of customer service.” What role did mentoring play in launching your career? Newbies to commercial real estate are typically teamed with a mentor, said Barbakow, but the programs are often not very structured. In fact, Barbakow said he was teamed with the worst possible people to teach him the business. “If I had the right team I would have benefitted greatly,” he said. “It’s important to have somebody who can give you an overall picture of the industry.” Regardless, Barbakow persevered and carved a successful niche in the business. Kohn also made it without a formal mentor. Instead, he formed management of accounting practice discussion groups early in his career. This allowed him to still learn from others. “I believe it’s important to communicate with your peers,” said Kohn. Feldman didn’t have a mentor, but had a lot of great bosses. “My objective was to get my boss promoted, because you can draft behind,” he said, adding he has personally mentored many people and gotten great satisfaction watching them grow professionally. How do you gain respect in the business community? Rosen said she has an incredibly young looking face, and constantly battles people assuming she’s fresh into the public relations field. “At least one in 10 ask me if I just graduated college.” She attends a lot of trade shows and meets face to face with clients and prospective clients. This gives her a chance to explain her experience and prove herself. Rosen also does pro bono work for local charities to widen her network of contacts. Kohn spent most of his career networking within the CPA Society. In the 1990s he decided it was important to get involved in the larger business and charitable community. Joining the Valley Industry and Commerce Association was one such pursuit. “It’s important for the firm to be known in the community, because you meet people and it projects who you are,” said Kohn. “And I’m pro CPAs becoming board chairs because I think we bring something important to the table.” Feldman said the key to gaining respect is to follow the rules, not be selfish and always give great customer service. Barbakow agrees. “I’m a big believer that being respected comes from doing a good job,” he said.

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