When I think about where we came from, two events stand out as clear but unlikely influences.
Today we have helped to position a public company in its core market. We have been responsible for introducing key relationships
that led to 80% of the company's revenue, and we have helped to position it to be a market leader (and perhaps soon to
be THE market leader) in its field.
KRS Technologies draws its origins from two interesting and unlikely influences....Financial/Estate Planning
and a Radio Show. In 2002, the financial markets were rocked by the scandalous collapse of corporate giants such as
ENRON and WorldCom. Not only did 2 major companies disappear from the map, but also one of the top accounting firms,
Arthur Andersen, who was responsible for the "aggressive accounting practices" that led to the companies' untimely
demise. The aftermath of the fallout from these two firms created increased scrutiny of public companies and culminated
in the monumental piece of legislation known as Sarbanes-Oxley. Sarbanes-Oxley (SARBOX) called for a thorough audit
of public companies' records and instituted detailed reporting regimens in an effort to reform the system. This
was not a particularly good time to hold the title, Chief Executive Officer, due to the backlash of public criticism and outrage.
CEOs might as well have had targets painted on their heads for all of the negative press that they received taking shots at
everything from operating procedures to perhaps most importantly, executive compensation, a hotbed of controversy.
Around 2004, Sal Salvo, co-founder and Principal
of Summit Financial Resources and an innovator in his field came up with a new way to market the services of his firm and
get closer to reaching his "ideal" client. Sal started the radio show, "From Success to Significance"
(Later renamed The Road to Significance to avoid copyright entanglements), which aired on WMTR (1250/1170 AM), the
largest AM radio station in New Jersey. The show was targeted to CEOs, Chairmen, and high-net worth professionals where
each of these guests were given an opportunity to tell their story of how they became successful and how they used that success
to give back. Sal also highlighted guests' charities or the causes that they cared about and asked each the same
poignant question: why would someone who had been so successful and done so much good in life voluntarily leave up to 50%
of their net worth to the government when they could leave it to their children or the causes that they cared about?"
Guests had varying responses but the most common was that these individuals probably did not have the right education in this
area.
Sal and Ron Praught
had been partners together for many years building the practice. I began working for them; assisting Ron with plan preparation,
asset allocation, and retirement runs. After awhile, I longed to see what (I referred to as) the "people"
side of the business was all about and spoke with Sal. In exchange for the right to participate in interviewing guests,
I became Executive Producer of the show. I will never forget my first day. I went from having a disk filled with
paper and a computer screen to a clean desk, a pad of paper, a phone, and the NJ BIZ Book of Lists. I began to book
guests for the show and through the help of some special people who caught the vision, the show took off. My duties
increased from booking guests, writing scripts, and producing shows to pitching sponsorships, securing copyrights, managing
the relationship with the studio including accounts payable, to working long nights building a comprehensive website with
our web designer. One day, we were thinking about how we could maximize value for the guests on our show and created
a networking group. At the first meeting, one of the guests spoke about a new integrated video, voice, data communication
platform that was multi-point, global, and fully hosted online. The meeting ended and I inquired about the new technology.
I have always loved and been drawn to technology even from the age of 5 where I used to make non-stop requests of my father
and uncles to draw me plugs and gas-lamps. I met with the CEO of this company and his investment banker. The meeting
went well but was uneventful and I do not think that either of the gentlemen with whom I met expected to hear from me.
As chance would have it, I received an opportunity
to go with Sal to Mass Mutual's Home Office in Massachusetts. Sal was invited to present on the Donor Motivation
Program, a Planned Giving initiative, that he had used with great success. Sal gave me the opportunity to present on
the Radio Show. We went through our presentations which were well received, however there had been a slight issue with
the collaboration technology that was used that day. This gave us an opportunity to step in and offer an alternative
solution. I immediately got on the phone and called the CEO. I am sure that he was never expecting to hear: "What
will you give us if we give you Mass Mutual?"
With that, we were in business and Sal, Ron, and I formed KRS Technologies. Since that day,
we have met with many people and taken on projects large and small, one even involving a sensitive technology with significant
military applications and the ability to revolutionize the RFID landscape. We are proud of where we have come but always
remember our roots. Our passion is and will always remain seeking creative ways to help our clients link with innovative
technologies to own their respective markets and serve their clients in the best way possible. We hope that you will
enjoy your visit on our website and look forward to the opportunity to serve you.
Sincerely,
Karl
Karl
G. Schlegel III
Managing Partner
