Visionary strategist Michael J. Frank’s career is built upon a foundation of different roles, including board leader, advisor, mentor, and arbitrator. He has been instrumental in defining the future of the financial services sector, and he continues to shape the next generation of talent via his work with Baruch College and Columbia Business School, where he mentors and inspires MBA students to achieve new levels of creativity and performance. Driven by the desire to make meaningful, positive, lasting change with a global impact, he currently manages a fund that invests in brain health startups and, along the way, has created a new, niche market for investment and innovation. As Co-founder of Gildre, he guides startup executives on capital raising and scaling growth while providing a forum for collaboration among founders, innovators, executives, and industry experts.
If your business could have a mascot, what would it be and why?
Wolverines are known for their tenacity, strength, and resilience, which could help create a strong, fearless brand image. Wolverines are small but powerful and determined animals. This can symbolize a resilient, resourceful business, and unafraid of challenges. Wolverines are solitary creatures known for their independence and resourcefulness, qualities that could resonate with customers who value innovation, self-reliance, or fierce loyalty. Their ferocity and confidence suggest that your business is bold, unafraid to take risks to achieve its goals. The wolverine could represent a never-give-up attitude for businesses in tough industries or those offering solutions for difficult challenges.
What strategies do you employ to maintain a healthy work-life balance while running your own business?
Set specific work times and stick to them. Whether you work in a traditional office or from home, having a clear “start” and “end” time helps prevent burnout. Avoid trying to do everything yourself. Delegate tasks that others can handle or outsource to experts to free up time for strategic thinking. Schedule specific time blocks for tasks, meetings, and breaks. This will help you stay focused and reduce your tendency to work late. Use tools to automate routine business processes, freeing up your time for your personal life. Incorporate small breaks throughout the day to refresh and recharge. Even a 10-minute walk or meditation can help reset your focus. Taking time off might seem impossible, but avoiding burnout is crucial. Plan vacations and prepare your business to operate smoothly in your absence. Striving for perfection in every task can drain energy and time. Set realistic goals and deadlines and focus on progress rather than perfection. Break projects into smaller, manageable pieces to avoid overwhelming yourself. Physical activity can improve mood, reduce stress, and boost productivity. Practicing mindfulness or meditation can reduce stress and create a mental break between work and personal life. Tools like project management software and communication platforms help keep your business organized and running smoothly. As a business owner, opportunities and requests can constantly come your way. Learning to say no when necessary allows you to focus on what truly matters—both in business and your personal life. A business coach or mentor can provide guidance, helping you balance growth strategies with personal needs. Communicate openly with loved ones about your schedule and commitments so they understand and support your efforts. Prioritize activities that help you unwind, whether spending time with family, exercising, or pursuing hobbies. Scheduling these activities ensures you make time for yourself.
When faced with unexpected detours on your business path, how do you pivot with grace and resilience, showing fellow women entrepreneurs the way forward?
Approach challenges as opportunities for growth rather than setbacks. Focus on what you can control. Remain composed under pressure: Being calm, especially in stressful situations, sets the tone for your team. Prioritize and break it down: When faced with a detour, focus on the most urgent problems first. Breaking challenges into smaller steps makes them more manageable and less overwhelming. Seek advice and mentorship. Collaborate with your community. When you hit a roadblock, communicate openly with your team and key stakeholders about the situation and your plan. This shows strength in leadership and builds trust. Engage your team in the solution: Inviting your team to contribute ideas and solutions fosters collaboration and can lead to more innovative ways to pivot. Every detour is a chance to learn something new about your business, market, or yourself as a leader. Once you identify a new path or strategy, implement it swiftly and be open to further adjustments. Practice resilience and self-compassion. Understand that setbacks are part of the entrepreneurial journey. Resilience is not about never falling but getting up and trying again with renewed energy and insight. Don’t be afraid to try new approaches or enter new markets. Use setbacks as a chance to experiment, but ensure you’re making informed, calculated decisions. As you navigate detours, celebrate even the small victories along the way. Recognizing incremental progress keeps you motivated and reinforces a positive mindset for yourself and your team.
How do you measure the success of your business beyond financial metrics, such as customer satisfaction or community engagement?
Net Promoter Score (NPS): This metric asks customers how likely they are to recommend your business to others on a scale of 0 to 10. Customer Satisfaction Score (CSAT): Ask customers to rate their satisfaction after a service or product experience. Customer Retention Rate: How many customers are returning to your business? Customer Reviews and Testimonials: Track reviews, ratings, and testimonials across various platforms. Social Media Engagement: Monitor likes, shares, comments, and overall engagement on social media platforms. Employee Engagement Surveys: Regularly survey employees to measure their engagement, satisfaction, and motivation. Employee Retention and Turnover Rates: High retention rates often reflect strong company culture. Internal Promotions and Development: Track how often employees are promoted from within and how many participate in professional development programs. Conduct surveys or use tools to measure people’s awareness of your brand and whether it’s associated with positive attributes.
Can you share a memorable moment where you witnessed significant growth or transformation in your business, illustrating the impact of your services/products?
When I was trading proprietarily as market makers and specialists on the Philadelphia Stock Exchange and the American Stock Exchange, we would have to reconcile every trade from the day before for options and stocks, which usually consisted of thousands of trades from our traders and specialists. We used to have a team of six people show up at 7:00 in the morning to get ready before the 9:30 stock markets opening bell to ensure we’d entered all the trades correctly, on the correct side, with the proper quantity and price. We built a piece of software called Robo Clerk. This piece of software compared the database from our clearing agent, Goldman Sachs, to our own personal software, Gateway Trading Systems (GTS), and spit out the differences in quantity, price, or side. Because we built this Robo Clerk, we didn’t need six people anymore to check all the trades in the morning, only one or two to go over what we call the out trades. It allowed us to take all the others usually assigned to check trades and deploy them to other tasks needed.
What role do you believe mentorship plays in the success of small businesses, and how have mentors influenced your own entrepreneurial journey?
Mentors offer a wealth of experience and a fresh perspective that can be transformative, especially for small business owners who may not have the resources or networks of larger organizations. Mentors can help small business owners avoid common mistakes and pitfalls by sharing their experiences. Their real-world knowledge can help entrepreneurs make smarter decisions and sidestep issues they might not have foreseen. Mentors typically have extensive networks and can connect small business owners to potential partners, investors, suppliers, or customers. These connections can be game-changing for small businesses with limited reach. Mentors can help entrepreneurs develop essential leadership skills, including decision-making, communication, and people management, which are key to long-term success. Many successful mentors have experienced failure at some point in their journey. By sharing these stories, they help mentees understand that failure is not the end but rather a learning experience that can lead to future success. Mentors teach the importance of resilience and bouncing back from setbacks. Their guidance can help entrepreneurs cultivate a mindset that turns challenges into opportunities for growth. Mentorship has played a pivotal role in shaping my entrepreneurial path, helping me navigate the early stages, gain confidence, encourage growth and innovation, learn from their experience, and access networks and opportunities.
What’s your work all about, and how does it make a difference in the world?
My work at Gildre is all about empowering individuals and businesses by providing useful insights, guidance, and creative solutions. I assist in areas such as decision-making, problem-solving, and innovation. I aim to help people navigate challenges, unlock potential, and make informed choices. By helping people streamline their ideas, plan strategically, and engage with their goals, I hope to make a difference in how individuals and businesses, like the Gildre community, grow and impact the world. Whether fostering connections, providing support, or sparking inspiration, I aim to assist in meaningful ways that contribute to success and positive change.
