Stephen M. Hicks is the founder and CEO of Southridge, a group of companies that helps to manage business development and plan execution. His educational background includes a B.S. in Business Administration from King’s College in New York and and MBA from Fordham University. Hicks founded Southridge Capital in 1996, bringing some 30 years of financial, risk management, and investment experience.
In his position at Southridge, he manages the strategic direction of the entire group of companies under their direction, helping to set the course for planning and development. He and his highly skilled team of colleagues bring together a wide breadth of experience and knowledge to help businesses plan for profitable development and expansion.
We recently sat down with Stephen Hicks for a brief interview where we discuss Southridge, his strategy for success, some of his best career moments, and more.
What does a day-in-the-life of Stephen Hicks look like?
I don’t really have a typical routine that I run through each day, but there are things that I do to keep myself focused and to ensure that I get done everything that needs to be done. Generally, my morning starts with a review of our portfolio, as well as creating a list of tasks that need to be accomplished that day – both for myself and the staff.
My day is generally spent focusing on two main tasks: making sure that our investments are on track and performing as expected, and looking for new opportunities for investments for the future.
What makes you successful?
As an entrepreneur, there are a wide set of skills necessary for success in what is a very competitive field. But what is most important is focus and organization. Having a daily list of tasks that need to be accomplished is incredibly valuable to me. I focus on cash proceeds from our portfolios to ensure that we are maximizing our investments.
Can you tell us about a failure you experienced in your career?
There was a company called Petals that we pumped a lot of money into and it failed despite our best efforts. It was a big hit financially. The only solution for us after a hit like that was to stay liquid enough with what we had left that we could earn our way out of the hole and we ultimately did.
How did you come up with the idea for Southridge Capital?
It was really a matter of luck and circumstance. I was working at a hedge fund in New York when the principal partner announced he was returning to Australia. Basically, this gave us about a year to wind down and get everything in order for the closure of the company. I decided that this was a good opportunity to try to go at it alone with my own hedge fund, so I started Southridge while still assisting in the closure process.
Are there any trends for the future that you are excited about?
To put it bluntly: cryptocurrency and pot.
Do you have any business advice you are willing to give away?
Get in on the cryptocurrency trend. It is an exciting new development and it looks like there is a lot of potential for the future. New coin continues to be introduced and there are tons of ideas and innovations that people are willing to share. Starting a channel or a podcast where you discuss trends and new currencies with the experts and developers is sure to be a hit.
Is there any software you use to enhance your productivity?
I mostly rely on a number of information and data sources for market information. My go-to sources are the Wall Street Journal online, OTC markets, and Quotestream.