For this Florida law firm CFO, competition takes many forms
3/11/21 REUTERS LEGAL 19:52:59
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Chinekwu Osakwe
REUTERS LEGAL
March 11, 2021
Jun 20, 2020; Punkin Center, Colorado, USA; U.S. Olympic hopeful Renee Tomlin rides during the USA Triathlon CO - COVID Ride Across Colorado at Colorado Highways. Mandatory Credit: Isaiah J. Downing-USA TODAY Sports
(Reuters) - It's been a busy year for Heath Eskalyo, a partner and chief financial officer at Florida-based midsize law firm Kelley Kronenberg. Eskalyo, who helps lead the firm as one of three principal partners, presided over an expansion of the firm's office footprint, revenue and headcount, all while creating a side business tied to his other calling: triathlons.
Eskalyo has been competing in triathlons for about three decades. This month he launched an app called CREDO Tri, whose promotional materials say it will "revolutionize triathlon preparation." The app helps prepare triathletes for races and contains motivational quotes and training tips delivered by pro athletes.
CREDO Tri, which Eskalyo co-founded with sports marketer Lou Cantin, also has another aim: helping athletes monetize their abilities. Triathletes often have to pay for all of their travel logistics, Eskalyo said, and they often lose money competing.
Athletes whose videos and other contributions are used in the app will be paid based on the number of subscribers, Eskalyo said, adding that the return on investment for the minimal time required could be "very handsome."
"They're such talented, skilled athletes, but yet their compensation does not rise to the level of their credentials," he said.
Eskalyo has steadily risen through the ranks in his 25 years at Kelley Kronenberg, as the firm grew from about 10 lawyers to over 175 today.
Last year the firm added 38 lawyers and four new locations in Daytona Beach, Naples, New Orleans and New York City, for 14 U.S. offices overall.
In addition to new offices and more attorneys, Kelley Kronenberg added a new plaintiffs-side practice to the firm in January 2020, dubbed Justice for Kids, that provides legal services to defend and protect abused and at-risk children.
"We were strictly insurance and business litigation: bankruptcy, construction employment, basically representing any business or entrepreneur who needs our services. We never did any plaintiffs work," said Eskalyo.
Eskalyo credits the firm's diverse practice areas for helping it achieve close to 18% revenue growth in 2020. He said Florida's history of hurricanes left the firm prepared to make the switch to working from home.
In the midst of coping with the pandemic and growing the firm, Eskalyo spent late nights and early mornings working on the CREDO Tri app, enlisting athletes he met through his business partner and other professional relationships. They gave their time in order to try and tap into what Eskalyo says is a $3 billion industry.
"My colleagues here, they love it," Eskalyo of the lawyers at staff at Kelley Kronenberg. "They're all supportive of it, they've downloaded it. You know, they know I'm a triathlete. Many of them got into the sport and participate in it, whether it's a full distance or they do it via relay."
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