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Posted by on Feb 11, 2013 in Food For Thought, Managing People | 4 comments

How Dentists Can Help You Become a Better Manager

How Dentists Can Help You Become a Better Manager

Managers often complain that no matter what they do their teams always find something to complain about. The interesting, and strange, thing I noticed is that team problems seem to pop-up out of nowhere and they have momentum. A lot of focus is placed on urgent and tangible things (i.e. get the targets), but things that are important are left ignored until they become urgent problems.

Dentists can help us understand this better.

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Posted by on Feb 4, 2013 in Food For Thought, Quotes | 0 comments

Career Advice From 21 of The World’s Most Successful People

Career Advice From 21 of The World’s Most Successful People

Great career advice from 21 successful icons who reached the peak of their domain. They include Jeff Bezos, Oprah Winfrey, Richard Branson, Muhammad Ali, Michael Jordan, Micheal Dell, Michael Bloomberg, Dr. Jane Goodall, Adriana Huffington, T Boone Pickens, Sheryl Sandberg, Jeff Weiner, Eric Schmidt, Indra Nooyi, George Clooney, Seth Godin, Ginni Rometty, Tony Hsieh, Steve jobs, Meg Whitman, and Guy Kawasaki.

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Posted by on Jan 21, 2013 in Food For Thought, Key Skills, Managing People | 0 comments

10 Tips To Evolve Your Team To Greatness

10 Tips To Evolve Your Team To Greatness

  So you hired the right people and you are managing them like a champ. Now you want to take the team to the next level. You want to develop the team to be better than it was the year before. Here are 10 tips to to help you along the way: 1- Curate and Orchestrate: Attract people that compliment each other to achieve great things. How you ask. LinkedIn CEO Jeff Weiner gives five tools (or skills or abilities… whatever rocks your boat): (1) Vision to see what the future will have (2) Product sensibility to devise a solution for customers that works (3) Business acumen to build a business model that works (4) Leadership to communicate the plan and attract the right people (5) Resourcefulness to get things done Take a look at your team, including yourself, to ensure your have these five abilities. Add or train people to fill in missing abilities. Orchestrate your team so each can deliver his/her ability effectively (i.e. unleash people who get stuff done on execution, visionary people...

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Posted by on Dec 26, 2012 in Food For Thought | 0 comments

Find The Hidden Waste Stealing Your Company Profits

Find The Hidden Waste Stealing Your Company Profits

  As a business owner, you are constantly working to use the limited resources you have to achieve the best results and highest possible returns. You have to be effective (i.e. get things done) and efficient (i.e. get things done with the least resources). It’s an ongoing effort rather than a one time “mission” to accomplish. The Japanese concept of “Kaizen”, which stands for constant improvement, allowed Japanese companies to add incredible operational innovation to the world. When business owners and managers are faced with tough times (e.g. economic crisis or lagging profits), they naturally take a closer look at their company to see where they can cut the fat to ensure the company’s longterm survival. The Plot Lets imagine you run a company that sells two products. Each of Product A and Product B sells for $100 with $50 cost of material. Now after years of being in business, your company is breaking-even (i.e. zero profit) while competitors are profitable. That’s annoying because your quality and sales are...

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Posted by on Dec 17, 2012 in Food For Thought, Key Skills | 0 comments

4 Personality Types To Look For When Recruiting Your Team

4 Personality Types To Look For When Recruiting Your Team

  The people you will surround yourself with will either make or break your company. You might have the privilege of picking your partners and employees and you might have to inherit others. When hiring people or picking partners, most focus on the other person’s technical abilities and track record. When it comes to personality, most of us go only as far as evaluating how likeable the person is or how well we think we will get along with him/her. There is a better way to pick the right personality. Let’s start by defining personality. The American Psychological Association defines personality as the individual differences in characteristic patterns of thinking, feeling and behaving. There is a branch of psychology dedicated to personality and plenty of attempts that apply theories to the workplace to help companies be more effective. In general, most of these theories will present four personality types at work using different labels: 1- Thinkers: They are intellectuals that value exploring new concepts, breaking the status quo, and charting new directions...

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Posted by on Dec 2, 2012 in Food For Thought | 0 comments

Crowdfunding: Funding On Steroids

Crowdfunding: Funding On Steroids

A lot of buzz has come out recently about crowdfunding (it’s also called peer-to-peer funding). I expect it will get even more in the coming year as new laws go into effect and more success stories emerge. Now, before I go into explaining what Crowdfunding is, let me wet your appetite by telling you that a few companies so far have raised over $1 million through crowdfunding. A media darling example is the 26 year old Eric Migicovsky who had an idea to make a smartwatch that works with smartphones (i.e. iPhone and Android). Working out of his apartment, he was running out of money and investors were turning him away. He put up a campaign on kickstarter.com to raise $100,000 for the Pebble smartwatch, which eventually raised $10.2 million from 69,000 people. There are other success stories. I included at the end of this post a two-minute video that explains crowdsourcing using whiteboard animation. In a nutshell, crowdfunding is when someone raises money from multiple people through a single campaign (i.e. 1-to-many). This...

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Posted by on Nov 23, 2012 in Business Plan, Food For Thought | 3 comments

Infographic: Financing Sources vs. Company Growth Stages vs. Type of Financing

Infographic: Financing Sources vs. Company Growth Stages vs. Type of Financing

In a previous post, I talked in length about the financing sources available for startups and small businesses. I discussed the type of financing (debt vs. equity), the typical stages of growth the company goes through (idea, start-up, early-stage, expansion, and maturity), and the options available for financing (founders’ savings, family & friends, loans, credit lines, credit cards, crowdfunding, incubators/accelerators, angel investors, special programs and competitions, and venture capital). I discussed the advantages and disadvantages of each option with a brief summary of when it makes sense. Here I want to add an infographic that summarizes how the three dimensions work together. So it becomes clearer which financing options fit at which stage and whether the financing will come in the form of equity, debt, or both. Enjoy!...

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