As an entrepreneur with a diverse portfolio that spans commercial real estate development and healthcare management, I often reflect on the roots of my journey. Looking back, it’s clear to me that my academic background in Economics and Finance from the University of Maryland, Baltimore County (UMBC) played a pivotal role in shaping my approach to business. While many may associate innovation and entrepreneurship with raw creativity or a specific industry expertise, I’ve come to realize that a solid educational foundation can be just as essential for success.
In this blog, I’ll share how my studies in Economics and Finance helped me build the strategic mindset that drives my ventures today, from real estate to healthcare, and why I believe that education—combined with practical experience—can unlock untapped potential in any entrepreneur.
The Foundation: Economics and Finance at UMBC
When I first enrolled at UMBC, I wasn’t entirely sure where my career path would lead. I knew I wanted to work in business, but I wasn’t sure in what capacity. What I did know was that I had a fascination with how markets work and how resources can be allocated efficiently. This curiosity led me to pursue a degree in Economics and Finance.
Economics, at its core, is about understanding how individuals, companies, and governments make decisions with limited resources. This insight proved invaluable in my career. Whether I was evaluating the financial viability of a commercial real estate project or assessing the operational efficiency of a healthcare facility, my ability to understand economic principles allowed me to make informed, data-driven decisions. It gave me the analytical tools to view situations from multiple angles, which has been critical in making strategic business decisions.
Finance, on the other hand, provided me with the practical skills needed to manage business resources effectively. Learning about capital budgeting, risk management, and financial forecasting allowed me to create solid business plans that are both visionary and grounded in reality. I could better understand how to raise capital for new projects, how to manage cash flow, and how to forecast long-term returns on investment. These are the skills that have empowered me to take on complex, high-stakes ventures in real estate and healthcare, two industries that demand careful financial management.
Connecting Theory with Practice
One of the things I appreciate most about my education at UMBC was how it encouraged me to think critically and apply theoretical knowledge to real-world scenarios. For example, during my coursework, we often worked on case studies that required us to apply economic theories to business challenges. These assignments were not just academic exercises—they were designed to simulate the kind of decision-making I would face in the real world.
For instance, when I first entered commercial real estate development, I used the concepts I had learned in my economics classes to evaluate market demand and supply dynamics in different locations. I looked at factors like population growth, local economic indicators, and even regulatory trends to determine where to invest. In a way, it was like applying an economic model to assess where resources (in this case, capital and property) would generate the highest return.
At the same time, finance taught me the importance of managing risk. Real estate development is inherently risky, but with the right financial strategies, it’s possible to mitigate some of that risk. The principles of portfolio diversification, for example, helped me approach my investments in a way that allowed me to balance risk and reward. These practical applications of theory made the connection between my academic studies and real-world business challenges crystal clear.
Innovation Through Strategic Thinking
One of the key things I’ve learned over the years is that innovation doesn’t always come from being radically different—it can also come from being strategically better. The ability to apply economic and financial thinking to business decisions has allowed me to innovate within the industries I work in, especially in healthcare.
As the COO of Vital Care Pharmacy’s advanced medical adult day care division, I’m constantly thinking about ways to improve efficiency, reduce costs, and enhance service delivery. Here, my background in economics plays a critical role. In healthcare, especially in a senior care setting, the allocation of resources is essential for optimizing both the patient experience and the business’s financial health. By applying concepts like cost-benefit analysis and understanding economies of scale, I’ve been able to streamline operations, reduce waste, and improve patient outcomes—all while maintaining profitability.
Additionally, the financial principles I learned in school have helped me understand how to manage cash flows in a way that supports long-term sustainability. Healthcare is an industry where margins can be tight, and having the ability to forecast financial trends has been key in planning for growth, investing in new technology, and expanding services in a sustainable manner.
The Power of Continued Learning
While my degree in Economics and Finance laid the foundation for my entrepreneurial journey, I’ve come to realize that the world of business is always evolving. To stay ahead, one must continually learn and adapt. In this way, my education wasn’t just a stepping stone—it set me up with the tools to continuously grow. I actively seek out new opportunities to expand my knowledge, whether through mentorship, industry conferences, or reading up on the latest market trends.
For me, the lessons I learned in school didn’t just apply to my first job or my first business venture—they continue to inform how I approach new opportunities. This commitment to lifelong learning is something I encourage others to embrace, especially entrepreneurs. It’s not about knowing everything at once but about being open to new ideas, staying curious, and using your educational background as a springboard for innovation.
Looking Back, Looking Forward
As I reflect on my journey, I can confidently say that my education in Economics and Finance was a critical component of my success. It gave me the ability to analyze complex situations, make informed decisions, and apply innovative strategies to a wide variety of challenges. Whether in real estate or healthcare, the lessons I learned during my time at UMBC continue to shape the way I approach business today.
For anyone looking to make their mark in the world of entrepreneurship, I highly recommend grounding yourself in a strong educational foundation. It’s not just about what you learn—it’s about how you apply that knowledge to solve problems and drive meaningful change. If you can connect theory with practice and stay adaptable, you’ll be well on your way to creating something truly innovative.