Name a better UCF love story than Jim and Debbie Balaschak. I’ll wait.
When Jim Balaschak ’86, ’92 met Debbie Balaschak ’88 at the laundry room of their UCF residence hall, they probably didn’t realize it was the beginning of a life-long partnership. Since their graduations, the Balaschaks have remained heavily involved with the UCF community and have become an integral part of the College of Business culture of engagement.
While the two are frequent attendees of a variety of College of Business events, Jim Balaschak’s true passion lies in entrepreneurship and student startup companies. Jim is a long time supporter and judge of the Joust New Venture Competition, an event that celebrates the entrepreneurial efforts of student starters across UCF by introducing them to community leaders, and providing key resources to help launch their ventures. He is also a member of the UCF College of Business Hall of Fame and a member of the Dean’s Advisory Board.
About Your Connection to UCF
Why did you choose to attend UCF?
Jim: I liked that UCF was a smaller school at the time and felt that I would not just be another of the masses. I also liked the vibe of the school.
Debbie: The feel of the campus, its location within the state, the way I felt while on the campus – I could picture myself being a student at this university.
What is your favorite UCF memory?
Jim: Having joined a fraternity and being active in the Greek system gave me plenty of social and intramural sport opportunities. Greek Week was always a friendly but intense competition and winning it my senior year after we thought we had lost was the sweetest victory. Taking an Economics class and enjoying it led me to change my major from Computer Science to Business Finance. I remember being frustrated that I got a C on a Graduate school paper I wrote about being innovative. However, doing the research impacted me to really look at how to innovate which led me to start my business.
Debbie: I have two strong favorite times – Greek Week (I joined a sorority my third semester) and my first two years living at Brevard Hall in the Libra Community.
What drives you to support UCF and the College of Business as an alumnus?
Jim: Cameron Ford and Dean Jarley have encouraged risk taking, provided resources and a culture to support an entrepreneurial environment for students.
Debbie: I have been raised to be charitable in word and deed. My support will assist another person who should then pass their support along and keep the pay it forward momentum going. I support UCF because I feel loyal to support my alma matter & because of the experiences I had while on campus. For the College of Business, I’m driven by being informed and participating. I am a UCF Alumna, and a College of Business graduate’s spouse. By participating in the college’s functions, I have met several exceptional instructors, learned from researchers and met creative, energetic, students who have ambition and motivation. These are students who get out of their comfort zone and try a program the college offers. Bottom line is that there is a leadership that promotes engagement with and for students and alumni.
What advice would you give alumni who want to re-engage with UCF?
Jim: There are many ways. Attend the Dean’s Speaker’s Series to hear what different professors are researching. Become a mentor for a student. Attend the Hall of Fame, attend the Joust to learn and see what business ideas students are working on, and so much more.
Debbie: Attend a sporting event, or the arts events at the Dr. Philips Center. Visit the campus and talk with students. Check out the department where you had classes and see what’s happening. For me, I did things with my husband who is twice a College of Business graduate. Listen to Dean Jarley’s podcast, attend a college event or take a walk through the buildings that comprise the College of Business – it is a village. There are activities and opportunities constantly being promoted, monitors display rotating announcements of who to contact or what room to visit for things happening. It is exciting to be a student in the College of Business and as an alumnus, I would want to be a part of the excitement. If someone wants to get involved, they will see or read something that will appeal to them.
About Your Career
What do you do?
Jim: Currently I am an investor. I invest in public companies in the stock market and trade options and futures as well. I also spend a lot of time looking at start up companies. I have invested in over 100 start up companies the past 6 years and review dozens of companies each month. My first career was in apartment community management. After 6 years, in 1993 I decided to start a tenant screening company to provide better information and tools to screen prospective renters. We developed the first Windows software and our own proprietary databases which were our competitive edge. I sold the company in 2003 to a publicly traded company which has allowed me become an investor and volunteer.
Debbie: Since retiring from the multi-family industry, I have kept myself busy with being a volunteer, helping my husband and taking care of our kids. I have been involved with schools, my sorority, HOAs and church. I enjoy various personal fitness classes and most recently playing pickelball!
How did you find your passion for entrepreneurship?
Jim: I started my first business in high school when I figured I could make more money being my own boss. I also had a part time one in college. My passion really became after selling my business and realizing there were many others with good business ideas and many could use some guidance as well as funding to help them. These were both resources I did not know where to find these types of resources when starting my business.
Debbie: My husband has the passion for entrepreneurship. I struggled to accept the risks of not working for a corporation like my father worked at. Once our first child was born, I went to work full time for our business. I learned quickly of the advantages of being your own boss; although I was not ready for my husband’s brain to never shut off. He was constantly thinking of ways to be more efficient or having a competitive advantage, which would then lead to us talking about the business when we could have been in “off” mode.
In your opinion, how will COVID-19 affect the landscape for startups and small businesses?
Jim: Working remotely really has not impacted most start ups as they are all pretty tech savvy and have been using tools like Zoom for years. Most of what I consider are B to B companies. Some companies have had to pivot – one that I am invested did promotions primarily for colleges, and had to go to virtual and other venues. Others this could be a big opportunity. One I invested in earlier this year Viewstub, has increased opportunity as more events go virtual. Caribu decided to make their remote reading ap free and got hundreds of thousand users which hopefully the can begin to monetize. Most companies have had to get leaner and cut expense as funding is not as easy to come by so they want to slow down to burn. Angels like me have scaled back as well as funds and venture capitalist. Also, valuations at early stage have come down a bit. However, thing have improved since March and April along with the stock market. There is a pretty good correlation. Unfortunately, some may not make it if they were focused on business that are severely impacted by COVID-19 like leisure and hospitality. Startups are risky, so I have a diversified portfolio of sectors and stages of companies.