TEACHING & LEARNING
Acquiring
Knowledge, Acquiring Companies
OUTREACH
Heart
and Sole
Faces of Wharton Entrepreneurship
RESEARCH
Compete
or Cooperate?
Jennifer
P. Bernstein
There’s a method to her entrepreneurial madness. Jennifer Bernstein’s marketing analytics company prides itself on methodology but the company is a wild ride for the self-described “stats geek.” Yet one she is glad to have taken.
Title: Principal
Personal
Information
Company name: Investics
Company
description:
Investics is a marketing strategy consultancy which specializes in
calculating the returns on its clients’ marketing investments
in various activities, including, but not limited to, advertising,
sales force, product promotion and distribution. Investics uses statistical
analysis combined with a financial approach to assess marketing spending
effectiveness. Our methodology aids clients in allocating future marketing
resources efficiently.
Education: University of Pennsylvania
(B.A. in History, 1994); Wharton (MBA in Entrepreneurial Management,
2003)
Primary place of residence: Philadelphia,
PA
It would surprise people that I….: am
a full-fledged “stats geek!” Offering a service that relies
heavily on statistics and quantitative models has made me become conversant
in a language that is Greek to many people.
P.O.V.
(Point of View)
I
became an entrepreneur because…:
My business partner, Thibaut de Cours (WG’03), and I share a similar
philosophy—we wanted to control our own occupational destinies.
We became entrepreneurs because we wanted to be our own bosses, but more
than that, wanted to feel the pride in starting and growing something
on our own, even though we knew we’d probably work more hours than
if we were employed by someone else.
Best way to respond to criticism and doubters…: It’s
necessary to hear them out at first. Criticism and doubt can be helpful
in moving you forward by challenging you and making you re-think and
refine your business plan, which we did. After that, if doubters or critics
continue to make themselves heard, our advice is to just prove them wrong
and never lose sight of why one became an entrepreneur in the first place.
Best definition of a successful entrepreneur: Someone who
does it for more than just money. Sure, we hope to be rewarded financially
through our efforts. But our reasons go beyond that. Having the drive
and ambition to execute one’s plan is a key to success.
Most challenging part of your job: Riding the roller-coaster!
Ups and downs can happen in a single day, often multiple times. Not getting
too discouraged (or too confident for that matter) is important. Maintaining
discipline is also a challenge. Fortunately, Thibaut and I have each
other to report to, providing a little healthy competition and thus the
motivation for a strong work ethic.
Biggest impact of the Wharton School: There’s not enough
room in this profile to describe Wharton’s impact. We use knowledge
from our coursework every day. We have an academic advisory board on
which a Wharton professor sits. Client leads come from our Wharton network.
The impact can be as large as one chooses to make it.
Best memory of your Wharton days: The Studio 54 party at Pub?
Seriously, the best part of Wharton was being surrounded by some of the
most interesting, intelligent, successful and cultured people I have
ever met. Thibaut and I met at Wharton and our business would be nowhere
without the support of the student and faculty friends we made at school.
Close
calls
How
you started your business: An independent
study project during our second year was an inexpensive way to conduct
R&D. Under the auspices of our advisor, marketing professor Dave
Reibstein, we had enough learning and a research project with a blue-chip
company under our belt to commercialize our work.
Pivotal moment in growing your business: Good old-fashioned
luck. We landed our first client providing us with the working capital
and morale to go forward.
Most interesting non-entrepreneurial job offer you've declined:
I guess if they were interesting enough, I might not have declined!
Nothing beats entrepreneurship.
Biggest surprise you encountered growing your business: We
took on an international focus very quickly. In the middle of our independent
study project, we were flown to London by a company interested in our
concept. Things will turn on a dime and it’s amazing how quickly
one has to react.
Most difficult decision you're glad you
made: Turning down a job in Equity Research to join Thibaut
in this entrepreneurial pursuit. Security and skills were tempting but
I wouldn’t change this for the world.
Entrepreneur
to Entrepreneur
Favorite
Web site:
www.google.com; I couldn’t do business without it.
Book
that most influenced your thinking: The negotiations
book Bargaining for Advantage. Before taking Negotiations at Wharton,
I thought negotiating skills were inherent but the book really helps
one get inside an opponent’s head and prepare for meetings.
Favorite activity outside of business: Traveling to a great
city to catch up with great friends over a great meal.
Goal still pursuing: Building our business into a profitable,
global enterprise.
Person most influential to your success: My parents. They
have provided opportunities throughout my life without which I could
not enjoy where I am today.
Person you most admire: My business partner. He’s shown
me what it means to put the business before self-interest and has helped
me realize my own potential and the potential of our company.
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