This content was created by Alan Akina. This content was uploaded by Alan Akina. This is a YouTube video (KHON news morning segment) titled "101 Financial makes Inc. 500! - KHON news with Alan Akina" dated August 2, 2010. It is an on-air interview/conversation between host Jai and Alan Akina, founder and president of 101 Financial. The discussion announces 101 Financial making Inc. Magazine's top 500 fastest-growing private companies and covers the company's focus on financial education for middle-income families, reasons for growth (strong demand for financial literacy, hiring instructors from former clients, and a referral-driven service), common client financial problems, and how to contact the firm (101financial.com).
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Thank you, Kirk. Big news for a Hawaiʻi company based on Oʻahu's North Shore. 101 Financial is what it's called, and it's cracked the top 500 of the fastest-growing private companies in America. That's according to Inc. Magazine. The company was founded in 2002 by Alan Akina, who joins us this morning. First off, the magazine's not even on newsstands, but how does it feel to get this news, to be one of the fastest-growing companies in America?
You know, Jai, we're just so excited about being on the list. I got the magazine yesterday and just held it in my hand. I was like, wow, this is surreal. to be listed alongside past honorees like Microsoft, Intuit, Jamba Juice, and Under Armour. Some great companies previous on this list, and we're just honored.
101 Financial, you're based up on the North Shore?
Yes.
What is it? Sounds like a class.
It is. We're a financial educational company that specifically helps middle-income families to get their entire financial lives organized. get out of debt as quickly as they can, and then get on to becoming either a first-time homeowner or building for their future.
How is— we every day now we're doing stories about companies losing money. How are you gaining? How are you growing in these difficult financial times?
And I think there's 3 major reasons. Number one, there's just a huge need for financial education and financial literacy, especially for middle-income families. Secondly, I think we do an excellent job at Selecting the right people to come work for us as instructors. In fact, all of our instructors are our best clients, so we're like 100% organic, organically grown. And then thirdly, I think, is the service that we provide. We spend a lot of time with each of our clients. They love what we do, and so they send us referrals. We operate on 100% referrals.
What is the biggest thing What do families do wrong, or what's one of the most common problems you run into when you go in to help out these families?
Number one, they don't know where their starting line is. Most people have their finances just spread out all over. They bank at 2 or 3 different institutions, so they're not accountable for what they're spending. So we come in and help them clean up their entire financial mess, get them organized so they get a starting line. We help them to bring in their banking so they can be accountable for all the money that's coming in and going out. And then we help them manage their debt and put a plan together so they can pay off their highest interest debts first and work down with a specific plan to become debt-free in a very, very short period of time.
How do they get in touch with you? You say it's pretty much you're referred by the people you're helping, but is there a way for someone who's out there going, gosh, that sounds like something I could definitely use?
Yeah, absolutely. We have a website. It's just 101financial.com, and they can go there. There's a ton of great information. A lot of testimonials from existing clients, and I think they'll learn a lot while they visit our site.
Alan Akina, the founder and president of 101 Financial, one of the fastest-growing companies in America. Congratulations on that.
Thank you very much.
All right, Hawaii's Morning News will be back. When we come back at 6 o'clock, we'll have our top news headlines for you, let you know more about this weather that we're waking up to, this wet weather.
So they get a starting line. We help them to bring in their banking so they can be accountable for all the money that's coming in and going out. And then we help them manage their debt and put a plan together so they can pay off their highest interest debts first and work down with a specific plan to become debt-free in a very, very short period of time.
How do they get in touch with you? You say it's pretty much you're referred by the people you're helping, but is there a way for someone who's out there going, gosh, that sounds like something I could definitely use?
Yeah, absolutely. We have a website. It's just 101financial.com, and they can go there. There's a ton of great information. A lot of testimonials from existing clients, and I think they'll learn a lot while they visit our site.
Alan Akina, the founder and president of 101 Financial, one of the fastest-growing companies in America. Congratulations on that.
