Archive for July, 2014

Dan Candura is Running Out of Time. What About You?

Monday, July 28th, 2014

Following a powerful, moving piece from @skinnerliz @newsfromIN, “When Time Runs Out,” the story of how Dan Candura @pennytree is dealing with his recent diagnosis of inoperable prostate cancer, Corey Kupfer offers nine steps to develop a business continuity plan.  It’s tough not to be moved by Dan’s story.  ”Knowing Dan, he doesn’t want sympathy; he wants a call to action.  It’s the least we could do for someone who gives so much to the profession,” says Brian Hamburger.

Read more.

Lyft President John Zimmer on the Company’s New York Debut, Regulation, and the Taxi Industry

Sunday, July 27th, 2014

My final disruption series post of the day is a New York Magazine interview with Lyft President, John Zimmer:  http://nymag.com/daily/intelligencer/2014/07/lyft-ceo-john-zimmer-interview.html.  It highlights the challenges of entrepreneurs who are often creating innovative business models and disrupting industries much more quickly than the laws evolve to keep up with them.  Disruptive companies like airbnb, Uber, Tesla and others are currently dealing with these challenges in a more or less confronting manner with regulators and entrenched powerful players such as the taxi industry, hotel industry and automobile dealer network.  The balance of appropriate legal protection versus unnecessary regulation that unduly impedes entrepreneurship is something that many of our clients in financial services and other industries deal with every day.

Malcolm Gladwell on Why Entrepreneurs Should Be Troublemakers

Sunday, July 27th, 2014

This is the second of my disruption trio of posts today:  http://www.inc.com/graham-winfrey/malcolm-gladwell-on-why-entrepreneurs-should-be-troublemakers.html.

As per this Inc. Magazine article, Malcolm Gladwell explains why entrepreneurs should not seek the approval of their peers–but instead should do just the opposite and are successful when they do.  “They are not people who require the social approval of their peers to go forward with an idea, and that’s a very rare trait. Very few people are truly disagreeable, but if you look at the really great disruptive innovators, they’re often vilified at a certain point,” says Gladwell.  To hear more about the traits that make a great disruptive entrepreneur, and parallels to the David and Goliath story which is the premise of Gladwell’s latest book, watch the embedded videos.

Disrupt Or Be Disrupted – It Is Inevitable. The Disruptive Workplace Is Here.

Sunday, July 27th, 2014

According to this LinkedIn post by Philip Thomas https://www.linkedin.com/today/post/article/20140723010242-1127749-disrupt-or-be-disrupted-it-is-inevitable-the-disruptive-workplace-is-here?trk=nus-cha-roll-art-title&_mSplash=1, “In the digital globalized economy disruption is all around us – like it or not it is inevitable that the workplace that we are currently we are in going to be disrupted sooner or later.”

This is the first of three posts that I will be sharing today about disruption and how truly innovative and successful businesses disrupt their industries.

The post goes on to discuss list the characteristic what the author refers to as the untethered workplace of the future and asks a question that every entrepreneur should consider:

Untethered – Workplace is not where you go and not when you produce

Evolving – Organisation evolves to be agile problem solvers and solution creators

Inventive – New business models are being introduced to meet customer point of thirst & pain

Digital – Rapid advancement of technology leveraged to use our skills and our smarts

Are you ready for a disruptive – untethered workplace of the future?”

Hamburger on Whether Advisers Should Charge Upon Termination with @WSJ

Friday, July 25th, 2014

Brian discusses fiduciary vs. suitability standards with Jason Zweig (@jasonzweigwsj) and whether advisers should charge their clients after they are terminated.

Brian Hamburger, president of MarketCounsel, a consulting firm in Englewood, N.J., that helps investment advisers comply with financial regulations, says advisers are increasingly insisting that clients give them 30 to 90 days of advance notice of a termination.  In some cases, that might enable advisers to unwind complex or illiquid securities without hastily depressing their prices. But often, says Mr. Hamburger, it simply enables advisers to keep earning fees from clients who have already said they don’t even want to work with them anymore.

Read more.

Are you a manager or a leader?

Friday, July 25th, 2014

This post http://www.vehicleservicepros.com/article/10262340/are-you-a-manager-or-a-leader contains some good distinctions regarding the difference between leaders and managers.  “A manager’s job is to plan, organize and coordinate. A leader’s job is to inspire and motivate.”  It also details 5 key traits of successful leaders: Integrity, Curiosity, Optimism, Compassion and Humility.  The quote of the epitaph on Jackie Robinson’s tombstone is great as well: “A life is not important except in the impact it has on other lives.”

The Psychological Price of Entrepreneurship

Thursday, July 24th, 2014

This re-issuance of an Inc. Magazine article from last year is very compelling. http://www.inc.com/magazine/201309/jessica-bruder/psychological-price-of-entrepreneurship.html/3?utm_source=Founder+Weekly+Newsletter  Here is the challenge the author issues: “No one said building a company was easy. But it’s time to be honest about how brutal it really is–and the price so many founders secretly pay.”

Hamburger Law Firm Partner, Corey Kupfer’s experience of being an entrepreneur since the age of 15, representing entrepreneurs through the good and the bad for almost 30 years and as Entrepreneurs’ Organization of New York President, has this article ring true for him.  “While the far majority of entrepreneurs in the far majority of times are the most optimistic, positive, engaged and energetic people I know, I have also known many who at given times have suffered from significant stress, depression and hardship.  This was, certainly, true at a much greater scale during the great recession of 2008 – 2010.”

VC: Here’s Why We Are Funding More Women Startup Founders

Sunday, July 20th, 2014

It is great to see that, according to this Business Insider article, more female-owned startups are getting funding.  There is an interesting reference (although no specific citing) to a study that found that women-run private tech companies are more capital-efficient and bring in a 35% higher return on investment (and 12% higher when venture backed).  Read more at http://www.businessinsider.com/vc-we-are-funding-more-women-founders-2014-7#ixzz382Xc0ijK

How the Democratization of Funding is Changing the Venture Capital Landscape

Friday, July 18th, 2014

This interesting Washington Post article http://m.washingtonpost.com/blogs/innovations/wp/2014/07/18/how-the-democratization-of-funding-is-changing-the-venture-capital-landscape/ lists 9 ”new entrants” into the funding game.  However, the first 7 have been around in various forms since at least the 1980s and in many cases long before.  The last two (8. Crowdfunding Platforms and 9. Global Money), however, in our view, are significant.  Although Global Money is also not totally new, the extent of the global economy and access to global capital beyond the age-old access of the uber-wealthy is a game-changer.

5 Reasons Now Is The Best Time To Become An Entrepreneur

Friday, July 18th, 2014

This Ryan Jenkins LinkedIn post https://www.linkedin.com/today/post/article/20140717215313-6305797-5-reasons-now-is-the-best-time-to-become-an-entrepreneur?trk=tod-home-art-list-large_0&_mSplash=1 asserts: “The barriers that discouraged previous generations’ entrepreneurial aspirations have all but crumbled for today’s entrepreneur. The only viable excuse for not starting a business today is simply that you do not desire to do so.  Do you agree?