Equal Potential, Unequal Paths: Explaining the Gender Gap in Entrepreneurial Success

October 23, 2015, 2:44 pm

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By Yuri Soares and Shoshana Grossman-Crist



Yuri Soares is chief of development effectiveness at the Multilateral Investment Fund. He holds a PhD in economics from Michigan State University and a Master's degree in agricultural economics from the University of Florida. He has worked in the United States and Brazil.

At the annual summit of the Global Banking Alliance for Women (GBA), it is was evident that we've learned much over the past few years on how to fashion effective approaches to help women entrepreneurs. GBA is a group of financial institutions, including some of the world's main banks, dedicated to expanding access to financial services for women, with an emphasis on targeting women-led enterprises. Its member banks are experimenting with innovative--and profitable--approaches.

But the discussions at the summit--held in São Paulo, Brazil, September 29 to October 1--also revealed a disconnect between our understanding of the causes of gaps between men and women entrepreneurs, and the innovative development models being fielded to address these gaps. We seem to have advanced our understanding that targeting women with financial services is not about products, but about the way financial institutions market and provide services to women, and how this differs from the approach for men. However, we appear to have a more limited understanding of how men and women entrepreneurs differ in their motivations, tolerance of risk, aspirations, and capabilities.

There is little agreement in the specialized economic literature regarding the causes of gaps between men and women entrepreneurs. What are the main differences between businesses led by men and by women, and which of these differences matter for business success? Are differences in skills, capabilities, or risk tolerance important? What are the roles of family considerations and social norms? Some patterns appear across studies in different countries. For example, many of the observed differences in business performance between men and women are driven by the fact that women start businesses in slower-growing sectors and industries. But as is clear in a recent review of the existing literature by Luisa De Vita, Michela Mari, and Sara Pogessi, our understanding is still very limited.


Entrepreneurial Finance Lab

Two recent papers commissioned by the Inter-American Development Bank (IDB) provide insights on the differences between male and female entrepreneurs that actually matter for business performance, using data from Banco ProCredit in Ecuador and the Entrepreneurial Finance Lab (EFL). The EFL data, in particular, takes advantage of a combination of demographic, financial, economic, and psychological data on more than 18,000 entrepreneurs who were applying for business loans at eight financial institutions across the globe. By looking in detail at these data, the studies find that although men and women differ in several aspects, both achieve success, but by taking somewhat different paths:

Men and women entrepreneurs are both successful, but you have to look a little deeper. Male entrepreneurs are running businesses that are significantly (29%) larger--they have larger business assets, revenues, and profits. Yet, when other variables are taken into account, women-led firms grow just as fast, and stay in business just as long.

Nevertheless, women are starting types of businesses that are inherently smaller. Women-led businesses are 17% more likely to operate in the retail sector. In contrast, men are significantly more likely to operate in sectors with higher revenues and profit margins, such as business selling to other businesses. This turns out to be one of the most important explanations of the gender differences in entrepreneurial success.

Differences in business type are further compounded by women requesting smaller loans. In EFL's sample, women-led businesses are requesting loans that are 51 percent smaller than loans requested by their male counterparts. EFL saw this difference in financing requests even when comparing women and men with similar psychological, demographic, and socioeconomic traits, and women and men with similar types and sizes of business.

Differences in psychological profiles are not in play. Yes, men and women have different psychological traits, as measured by psychometric tests, but these do not seem to be important for business performance. The EFL data includes variables related to entrepreneurial creativity, opportunism, proactivity, and vision, as well as IQ and a number of other psychological traits among the entrepreneurs.

The differences between men's and women's entrepreneurial success therefore come down not to having different potential--which in fact appears to be the same--but to men and women making different choices about the type of business to start, and requesting different levels of financing.

So where do we go from here?

This takes us back to public and private organizations--like GBA--that are discussing these issues, and insisting on the importance of collecting and properly analyzing data to expand access to financial services to women-led entrepreneurs. Evidence such as that uncovered by the EFL and ProCredit studies is critical to dispel myths regarding gender differences. Differences in aptitude, potential, and even risk tolerance are often used to justify strategic business and policy choices, but they turn out to be relatively unimportant. On the other hand, there are significant gender differences that suggest that women entrepreneurs achieve success in somewhat different ways than men, and that they face hurdles that men do not--such as low participation in capital-intensive sectors, and smaller requests for credit. These findings tell us that successful approaches to the women-led market should focus on these first-order differences and hurdles.

Shoshana Grossman-Crist
Shoshana Grossman-Crist has worked on issues of knowledge management, development effectiveness, and microinsurance at the Multilateral Investment Fund. She holds a Master's degree in public policy and management from Carnegie Mellon University.

From the Multilateral Investment Fund Trends blog.

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How to Write Both Fast & Well, Part 5: An Ancient Lesson in Three Acts

October 23, 2015, 2:48 pm

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Last time, I showed you how to give your writing some shape by using the Inverted Pyramid format. As I said, this shape works well for news, because the reader finds more important material closer to the top. This has a downside, though: the farther you go into the piece, the less interesting it's likely to be. So it doesn't work too well when you want to build interest, such as in a story or a blog post.

To meet that challenge we can use another kind of shape, this one derived from ancient principles of drama.

In his Poetics, Aristotle defined the three-act structure of a well-written play: "A whole is what has a beginning and middle and end."

At first blush, that seems crashingly obvious: of course there's a beginning, a middle and an end! But the power of this model lies in the function of each of its three parts:

1. The beginning is a situation of relative stability, which contains the potential of what's to come.
2. The middle features tension or conflict.
3. The end is a new state of stability: a resolution that integrates the beginning with discoveries made in the middle.

The three-act structure is still in widespread use, including in nearly every Hollywood movie.* It apparently resonates at a deep level of our minds, which show a strong bias in favor of threes. Think of the syllogism, basic to logic: if A and B, then C. Or rhythm: almost all of our natural and musical rhythms are built on groupings of either two or three.

We can apply the three-act structure to the "Anytown Stadium" example we used last time. For example, at the top of the story we might set up this situation:

For 10 years now, the block of 1st Street between Adams and Coolidge has been a wasteland of boarded-up shops, broken asphalt, and weeds.

In the middle, we could introduce and explore conflict:

But when Anytown Hornets owner John Johnson looked at that block, he didn't see a wasteland -- he saw a palace of sports and entertainment.

There might follow struggles between Johnson and whoever or whatever stood in his way, such as interest groups or zoning laws. Then, at the end, a resolution:

Some passersby -- those who have lived here for a while -- may feel there's something familiar about the architect's rendering of the controversial new stadium's 1st Street façade. Those irregular arches flanking the main entrance? They follow the rooflines of old 1st Street. It's the picture, Johnson swears, of a newly thriving downtown.

This format probably feels familiar, from any number of magazine-style feature stories, which explore meaning and texture as opposed to hard news.

It can also be used for opinion pieces: the beginning introduces an argument, the middle engages with conflicting arguments, and the end resolves with a deeper understanding of the original argument.

Bear in mind that "three acts" doesn't imply a timeline of one thing after another. Skilled writers will feel free to range across time and space, touching on matters large and small. For a masterful example, relevant to our previous discussions, see John McPhee's recent New Yorker essay "Omission: Choosing What to Leave Out".

Even there, though, once you reach that intricate piece's delightful end, you'll find that McPhee got you got there via a beginning and a middle.

*In Hollywood the three-act structure is often broken down into five parts, by giving more detail about the middle: Exposition (beginning), Rising Action (beginning of the conflict), Climax (high point of the conflict), Falling Action (end of the conflict), Denouement (end).

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The Last Generation of People Who Hate Their Jobs

October 23, 2015, 3:20 pm

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My memory is pretty bad, but there are a few things etched in my mind: when I first laid eyes on my wife. The moment the doors opened at the back of the church and she turned the corner to walk down the aisle. The birth of my daughter.

But, I also won't forget this random day in February when I was 12 years old.

I spent many Saturdays going into my dad's office while he caught up on work. My sister and I would play on the phones -- calling each other from room to room, pretending we were on important calls. I would sit at the desks and write on my dad's letterhead. I would gaze with big eyes at the walls of filing cabinets. To me, this lending office outside of Portland, Oregon was a kingdom and my dad, as manager, was the king.



Every night I would hear the garage door open and I'd run down the stairs, slide around the corner in my socks, and greet him at the door. "How was your day at work?" He'd talk about his meetings, deals he had closed and new people he hired.

Then, the next day, he would go back to work. The end of the day would come, the garage door would open, and I'd come running down to meet him again.

This repeated day after day, year after year, until Valentine's Day when I was 12 years old.

He went to work. The end of the day came. The garage door opened and I came sliding in to meet him. But something was different this day. I could see it on his face.

He was holding a box with all his things in it. When I say those words, you know exactly what happened. But, to a 12-year-old kid, I didn't understand.

How could they fire him? Didn't they know about the awards he had won year after year -- "best in the company." Didn't they know how much money he had brought in for the company? Didn't they know that his branch was consistently top in the state? Didn't they know how hard he worked? Didn't they know how he pushed himself, set higher bars, and managed his team to do the same?

That moment is etched in my mind because it didn't make sense. Unfortunately, I would come to find out that it was called "business." Over the next 16 years, I would learn that the expression, "it's just business," let you treat people poorly and get away with it. "It's just business" was a get-out-of-jail-free card that meant you didn't have to think about an employee's family, health, or happiness.

The workplace taught me that people are expendable and that profit is the most important thing. People are cogs in machines -- get as much out of them as you can. I learned that weekends were when you could do things you were passionate about, but the workplace was where you did things someone else was passionate about.

It all seemed so wrong. What happened to that wonder I used to have for "work?" Was work and business really this bad?

But then something amazing happened. I started to see companies pop up that were saying and doing things completely different, like:

"We encourage all employees to take the time they need for vacation, to pursue their own interests, to stay healthy, and to spend time with friends and family." -- Automattic

"Show gratitude. Choose positivity and happiness. Do the right thing." -- Buffer

They believe things like:

"This company is yours to steer -- toward opportunities and away from risks. You have the power to green-light projects. You have the power to ship products." --Valve

"We want to make sure you're emotionally and physically healthy. If you need anything, just ask someone and we'll make sure you're taken care of. We want you to thrive." -- Simple

"We believe in having a full life outside of the office." -- MeetEdgar

"We acknowledge that we have room to grow, and we push ourselves to actively elevate those who might otherwise be suppressed. We are all about people. You'll notice that we value trust, honesty, and empathy." -- Braintree

It wasn't about the "perks" like free food at work or a loose vacation policy. Those are things that only large companies with funding can afford. No. These companies were set apart by the way they cared about people.

People are humans, not cogs in machines. There are finally companies that champion these values. They care more about the health, growth, and happiness of their people than they do about just making a profit.

The number one thing I hear from my thousands of Sumry users is that it's really, really hard to find a job at a company that will care about you.

That is sad. It shouldn't be that way. It should be hard to find a job at a company that treats you like a machine, not the other way around. I'm tired of people telling me this is impossible.

We can get there.

It takes not setting for the status quo. That means founders and CEOs deciding that their people is all they have -- that treating them well is the best thing they can do for their company's growth.

It takes individuals refusing to apply at companies that treat people like machines. It's not hopeless. You can find a company that cares about you as a person. My team is building tools that make it easier to find these companies.

I want "it's just business" to be an expression we use to talk about the ways a company made it possibly for a father to attend his son's tee-ball practices. I want that expression to be used to talk about companies that insist on emotional and physical rest for their employees.

"It's just business" doesn't have to be an excuse to treat people poorly. It should be a war cry for a new way to work: where people are treated like humans. Where families are valued and having a healthy life is the goal. Where growing and getting better professionally and personally is encouraged.

It's just business.

It's business that we can be excited about. It's work with a purpose.

You see, that day my dad walked through the door is forever etched in my memory. I'll never forget it.

I never want my daughter to see me walk through the door with a box full of my dashed hopes and dreams. I never want to put my trust in a company that doesn't care about me.

That day in February when I was 12 changed my life. My dad would go on to start his own business and prove that he truly was the king I always thought he was. He pays his employees more than most in his industry. When one of his employees needed a car, he gave them one of his own.

That day completely changed my perspective on work. I've joined my dad in a revolt against the status quo.

Do you hear that? It's the sound of the garage door opening.

What side of "it's just business" will you be on?

Nate Hanson is the founder of WorkDifferent.com -- a movement focused on companies that focus on the health, growth, and happiness of their people.

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40+ and Unhappy at Work? Listen to These 5 Podcasts to Jumpstart Your Inspiration

October 23, 2015, 3:22 pm

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There are millions of people who, just like you, are unhappy at work.

The global statistics only tell part of the story. What I can tell you from my experience and from the stories I hear and read on a daily basis, the vast majority of workers over 40 years old are not only disengaged and unhappy with their job, they're dissatisfied with their career and dream about doing something different.

But they're afraid. They fear change. They believe it's too late for them to do something different.

They're afraid that it's over.

What's over is job security, the 20+ year career with one company, the early retirement package, and everything else you and I grew up believing that would lead to success and happiness.

Today's reality features contract positions with no benefits, underemployment, and age discrimination. These are just a few of the many challenges that workers over 40 are facing in today's job market.

Here's what isn't over.

You have an opportunity to choose a different path, regardless of your age.

Right about now, you're probably thinking that finding work you love or leaving the corporate life to become a midlife entrepreneur is not realistic. But despite what you've been led to believe, there has never been a better opportunity to change careers or become a first-time entrepreneur.

Yes, it will not be easy. It will require you to put in extra work, take risks, and break the career and life mold that you're feeling stuck in right now. Fortunately, there are some people already blazing a trail that will help show you the way.

Ready to jumpstart your inspiration?

STEP ONE

Subscribe and listen to these five podcasts which will open your eyes to new opportunities and ways of thinking.

1. Dream. Think. Do. by Mitch Matthews

Mitch uses his personal experience and insight along with that of his guests to inspire and motivate you to dream and think big. His interviews are entertaining and most importantly provide tactical steps that will motivate you to take action and go after your dreams.

2. How Did You Get Into That? by Grant Baldwin

When I lost my job last year, this was one of the first podcasts I discovered, and I've been a listener ever since. Grant goes one-on-one with his guests and finds out exactly how they went from wanting more in their career to doing work they love. You'll hear stories from every industry you can think of, and a few you would have never imagined it was possible to earn a living from.

3. Life on Purpose by Gregory Berg

If you're searching for more meaning and purpose in your life, this podcast will open your eyes to what it means to live your life with intention. Greg interviews bring out practical insights and takeaways that you can use to create more happiness and fulfillment in your daily life. And you'll hear from unique and engaging guests who you won't find on other podcasts.

4. The Midlife Launch by Kingsley Grant

This podcast is specifically targeted at men in midlife who want to reinvent themselves. Kingsley knows firsthand the challenges this entails because, after a 20+ year career, he reinvented himself. Now he's helping others do the same. In each interview, Kingsley goes in-depth with his guests who have gone through their own midlife reinvention, revealing the real-life struggles and practical strategies they use as they pursue a life of significance.

5. Relaunch by Joel Boggess and Dr. Pei

This podcast promises to help you start over with confidence, clarity, and direction, and Joel and Dr. Pei deliver on that promise. Each interview is 30 minutes or less and features inspiring stories from many amazing guests who have relaunched their lives and careers. You'll hear about the challenges they've overcome and learn practical steps you can use to start your relaunch.

STEP 2

Create a plan of action. Its time to stop putting in all of the long hours and energy into a job that you hate and settling for a life of unfulfilled dreams and regret.

Use these podcasts and other resources to help you figure out what's most important and to discover what inspires you.

And then act on it.

It's not going to be easy. It won't be without risks. But I can tell you that if you take action, it will be one of the most fulfilling and rewarding steps you've taken in your life.

Today is the day for you to start thinking bigger about who you are, and what you have to offer to yourself, your family, and the world.

Make this the day your journey begins.

Photo Credit: warrengoldswain / 123RF Stock Photo

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Weekend Roundup: Advent of the Third Industrial Revolution

October 23, 2015, 4:12 pm

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The WorldPost strives every day to chronicle the ongoing contest between two competing futures. One future is a world coming together through the convergence of new technologies that promise ecological stability, the empowerment of diversity and opportunity for all. The other is a world falling apart through bitter partisanship, religious warfare and the return of geopolitical blocs.

This week we begin a new series that takes sides. Futurist Jeremy Rifkin lays out a vision of "the Third Industrial Revolution" that, through digital connectivity, clean energy and smart transportation all tied together through the "Internet of Things," can lead to breakthrough instead of breakdown. In an introduction to the series, Arianna Huffington invites us to join the conversation on climate change, technology and the growing global movement toward solutions that can provide a unifying purpose to all our connectivity.

In a related post, IMF Managing Director Christine Lagarde and World Bank President Jim Yong Kim explain how carbon pricing can lead to the first generation of investments that will "build a competitive future without the dangerous levels of carbon dioxide emissions that are now driving global warming." Mohamed El-Erian warns the path ahead won't be easy. "Western political and economic structures are, in some ways, specifically designed to resist deep and rapid change," he writes. "When major structural and secular challenges arise, as is the case today, the advanced countries' institutional architecture acts as a major obstacle to effective action." Taking a view from the bottom up, World Reporter Charlotte Alfred writes about the solar entrepreneurs emerging from the rural cellphone revolution in Kenya and one innovation that could save countless lives.

Where does China fit in? Tom Doctoroff asks whether China's capacity for innovation is a promise or a pipe dream. Writing from Shanghai, Jonathan Woetzel and Jeongmin Seong of the McKinsey Global Institute argue that China's strengths in innovation are formidable. From Beijing, He Yafei looks to "the New Silk Road" as a source of global growth while Wu Sike fears that the proposed Trans-Pacific Partnership on trade will become "an economic NATO" because China is excluded. Writing during President Xi's visit this week, David Mepham says Britain should stand up to Beijing on human rights. WorldPost China Correspondent Matt Sheehan takes us to a remote Tibetan village that has just now been hooked up to the electric grid for the first time.

In an interview, Turkish Nobel laureate Orhan Pamuk discusses his new novel, "A Strangeness in My Mind," that, through the personal experience of his characters, explores urban migration as the epic story of our time. Pussy Riot activist Nadya Tolokonnikova spells out her manifesto as a nomad who lives without borders or a defined identity. Michael Skafidas profiles this year's Nobel laureate for literature, Svetlana Alexievich, and calls her "the voice of modern Russia."

Writing from Toronto, Stephen Marche notes the decisive generational shift in this week's Canadian elections. "Voters woke up on Tuesday morning," he reports, "to find that the most powerful people in their government were all under 45."

In separate articles, World Reporter Nick Robins-Early and Charles Lister focus on the assault this week by Russian-backed Syrian forces near Aleppo. For the "Forgotten Fact," Robins-Early reports how Putin's strikes are assisting Assad in his push toward Syria's largest city. Lister scores Russian intervention in Syria as further prolonging the civil war. "If we think the refugee flows from Syria into Europe were shocking in 2015, we haven't seen anything yet. Russian bombing emptied two entire towns in Idlib on 12 October alone, while as many as 70,000 civilians are now fleeing rural Aleppo amid regime advances and Russian bombing." Raghida Dergham lays out what she sees as Russia's roadmap for a political solution to end the war in Syria.

Writing from Abu Dhabi, Elizabeth Dickinson describes the growing desperation of the 10 million Syrians living in the diaspora since the war began. Basil Chaballout tells the story of how his whole Syrian family has become refugees.

In a remarkable report entitled "A Thousand Miles In Their Shoes," WorldPost Middle East Correspondent Sophia Jones takes us step by step on a trek with refugees headed from Turkey to Germany. She also reports on a Syrian man who saved a French journalist in the war zone, but is now not wanted in Europe where he is seeking asylum. Alex Gorlach anticipates that the backlash against the refugee influx in Germany will likely topple Chancellor Angela Merkel.

As tensions continue to mount, Daoud Kuttab writes from Amman that Palestinians now feel terrorized in Jerusalem. From Tel Aviv, Mya Guarnieri tells us what the Israelis really want. Foreign Affairs Reporter Jessica Schulberg examines the causes behind the new round of violence in Jerusalem while Charlotte Alfred highlights the struggle of nonviolent activists to be heard.

The Tunisian-British writer Soumaya Ghannoushi traces the factional wars within Islam to the vacuum of religious authority. " In order to absorb the great tensions seething deep within Sunni Islam's guts," she writes, " .... it is crucial to redeem the status and function of the traditional scholar not as the sole player in the arena or as the conscience of Sunni Islam, but as an intellectual authority of great moral influence and presence across Muslim society." A photo essay portrays stories of coping and resilience in Yemen.

Husain Haqqani writes that Pakistan's intelligence and security services have sacrificed social progress "in their pursuit of military parity with India."

This week, Dominique Mosbergen finishes her series on LGBT life in Southeast Asia, taking us to Myanmar, Vietnam, Laos and Thailand.

Fusion displays 3-D art that illustrates the crisis of affordable housing in New York City. In our Singularity series we talk to scientists who see the future not as humans versus robots, but "humans plus machines." Finally, we look at some amazing panoramic photos from around the world.

WHO WE ARE

EDITORS: Nathan Gardels, Senior Advisor to the Berggruen Institute on Governance and the long-time editor of NPQ and the Global Viewpoint Network of the Los Angeles Times Syndicate/Tribune Media, is the Editor-in-Chief of The WorldPost. Farah Mohamed is the Managing Editor of The WorldPost. Kathleen Miles is the Senior Editor of The WorldPost. Alex Gardels and Peter Mellgard are the Associate Editors of The WorldPost. Katie Nelson is the National Editor at the Huffington Post, overseeing The WorldPost and HuffPost's editorial coverage. Eline Gordts is HuffPost's Senior World Editor. Charlotte Alfred and Nick Robins-Early are World Reporters. Rowaida Abdelaziz is Social Media Editor.

CORRESPONDENTS: Sophia Jones in Istanbul; Matt Sheehan in Beijing.

EDITORIAL BOARD: Nicolas Berggruen, Nathan Gardels, Arianna Huffington, Eric Schmidt (Google Inc.), Pierre Omidyar (First Look Media) Juan Luis Cebrian (El Pais/PRISA), Walter Isaacson (Aspen Institute/TIME-CNN), John Elkann (Corriere della Sera, La Stampa), Wadah Khanfar (Al Jazeera), Dileep Padgaonkar (Times of India) and Yoichi Funabashi (Asahi Shimbun).

VICE PRESIDENT OF OPERATIONS: Dawn Nakagawa.

CONTRIBUTING EDITORS: Moises Naim (former editor of Foreign Policy), Nayan Chanda (Yale/Global; Far Eastern Economic Review) and Katherine Keating (One-On-One). Sergio Munoz Bata and Parag Khanna are Contributing Editors-At-Large.

The Asia Society and its ChinaFile, edited by Orville Schell, is our primary partner on Asia coverage. Eric X. Li and the Chunqiu Institute/Fudan University in Shanghai and Guancha.cn also provide first person voices from China. We also draw on the content of China Digital Times. Seung-yoon Lee is The WorldPost link in South Korea.

Jared Cohen of Google Ideas provides regular commentary from young thinkers, leaders and activists around the globe. Bruce Mau provides regular columns from MassiveChangeNetwork.com on the "whole mind" way of thinking. Patrick Soon-Shiong is Contributing Editor for Health and Medicine.

ADVISORY COUNCIL: Members of the Berggruen Institute's 21st Century Council and Council for the Future of Europe serve as the Advisory Council -- as well as regular contributors -- to the site. These include, Jacques Attali, Shaukat Aziz, Gordon Brown, Fernando Henrique Cardoso, Juan Luis Cebrian, Jack Dorsey, Mohamed El-Erian, Francis Fukuyama, Felipe Gonzalez, John Gray, Reid Hoffman, Fred Hu, Mo Ibrahim, Alexei Kudrin, Pascal Lamy, Kishore Mahbubani, Alain Minc, Dambisa Moyo, Laura Tyson, Elon Musk, Pierre Omidyar, Raghuram Rajan, Nouriel Roubini, Nicolas Sarkozy, Eric Schmidt, Gerhard Schroeder, Peter Schwartz, Amartya Sen, Jeff Skoll, Michael Spence, Joe Stiglitz, Larry Summers, Wu Jianmin, George Yeo, Fareed Zakaria, Ernesto Zedillo, Ahmed Zewail, and Zheng Bijian.

From the Europe group, these include: Marek Belka, Tony Blair, Jacques Delors, Niall Ferguson, Anthony Giddens, Otmar Issing, Mario Monti, Robert Mundell, Peter Sutherland and Guy Verhofstadt.

MISSION STATEMENT

The WorldPost is a global media bridge that seeks to connect the world and connect the dots. Gathering together top editors and first person contributors from all corners of the planet, we aspire to be the one publication where the whole world meets.

We not only deliver breaking news from the best sources with original reportage on the ground and user-generated content; we bring the best minds and most authoritative as well as fresh and new voices together to make sense of events from a global perspective looking around, not a national perspective looking out.

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

How You Can Manage Email Like a Millionaire (5 Simple Rules)

October 24, 2015, 9:42 am

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How can you cut the time spent on emails in half? How can you get to "inbox zero" every single day?

I recently interviewed over 200 millionaires, entrepreneurs and highly successful solopreneurs for my new book, 15 Secrets Highly Successful People Know About Time Management. I learned that ultra-productive people don't react to email the way most of us do. They don't react, at all. They treat email processing as they would any other task; it's an activity to be scheduled, and to complete in as little time as possible.

While not all ultra-productive people follow the exact same system, I discovered that most had habits that reflect the following rules and instead of "checking" email constantly, they "processed" emails in a manner that I call "The 321Zero System."

Rule #1, unsubscribe from email newsletters. Do you really need to subscribe to all those flash deal-of-the-day offers? Those viral clickbait "news" headlines? Don't give companies permission to intrude on your day. If you really want those newsletters, use a secondary email address for them, and schedule time off-hours to read them all at once. For now, go to www.Unroll.me and you can easily unsubscribe from the newsletters you want to trash, and then it will consolidate the newsletters you want to keep into one big daily email.

Rule #2, turn off all email notifications. Email is not intended to be an urgent form of communication, so getting email notifications is a sin. Notifications interrupt your concentration, your work sprints, and your ability to be present and mindful during meetings and conversations. Whether you have an audible ding, a phone vibration, or a little window that pops up with every new email--turn it off.

Rule #3, think twice before you forward, cc, or bcc. As reported in the Wall Street Journal, London-based International Power reduced total email traffic by 54 percent just by encouraging their top executives to "think twice" before they forwarded an email or added anyone to the cc: line. If you send less email, you'll also receive less email.

Rule #4, keep emails short--really short. Think of emails more like text messages than business letters. Realize that being brief isn't rude; it's a sign of respect for the other person's time. In an interview for my book, HootSuite CEO Ryan Holmes told me,

Keep emails short and sweet. Over the years, I've trained myself to write three-sentence emails, leaving out the fluff and keeping only the most essential points. It saves my time and it saves the reader's time.

Rule #5, process email with the 4 D's. Every time you open an email, you should ask:

• Can I Delete this email? These days, with virtually unlimited storage space, it's easy to just hit the Archive button on most things, knowing that you can use the search function to get it back again in the future. Or, similarly, just "file it" by moving it into a folder or giving it a

• Can I Delegate this to someone else? If yes, immediately forward the message.

• Can I Do it in less than five minutes? If you can take care of an email in less than five minutes, you should do it right away. Then delete/archive it.

• Can I Defer it? The remaining choice will be an email that you have to personally respond to, but it will take longer than five minutes. In this case you will want to immediately schedule time on your calendar to respond to it (i.e., defer it).

Finally, ultra-productive people don't respond to email through constant check-ins. Instead, they process email in scheduled work sprints.

Jonah Berger is a marketing professor at the Wharton School at the University of Pennsylvania and the author ofContagious. In an interview for my book he said,

Meetings, phone calls, and emails can break up your entire day if you let them, leaving you little time to get any big thinking done...only check email a few times a day.

Using the "The 321Zero System" will keep your inbox at inbox zero. How's it work?

1) Schedule three times a day to process your email (morning, noon, night).

2) Set the timer on your phone for 21 minutes.

3) Try to get to inbox zero in that time.

Make a game out of it. 21 minutes is intentionally not enough time, but it will keep you focused, ensure that your responses are short, and that you don't start clicking links out into the wonderful world of internet distractions.

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Kevin is the author of15 Secrets Successful People Know About Time Management: The Productivity Habits of 7 Billionaires, 13 Olympic Athletes, 29 Straight-A Students and 239 Enterpreneurs.

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

8 Ways Sleep Can Help (or Hinder) Your Work Performance

October 25, 2015, 7:02 am

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Americans have a sleep problem, and that means we have a work problem. We're getting less and less sleep (especially on work nights), to the point that the CDC has declared sleep deprivation a public health epidemic.

Entrepreneurs are particularly susceptible to sleep deprivation given the pressures and massive workloads that are common for business owners of all stripes. But insufficient sleep will cost you in just about every way -- physically, mentally, financially, and on the job.

In contrast, high-quality sleep can up your game and give you a competitive edge over the caffeine-addicted zombies wandering the office hallways. Here's a run-down of the many ways that sleep can help (and harm) productivity.



How Sleep Helps

If anything remotely like a panacea for all problems exists, then sleep might be the closest thing to it. Here's just a sampling of the ways that getting enough sleep can improve work performance.

1. It repairs our brains. Sleep is critical for repairing the neural pathways in our brains, a process that's necessary for maintaining memory functions and learning new skills. In short, the only way to keep growing and improving at work is to consistently get a good night's sleep.

2. It keeps us firing on all cylinders. Sleeping well on a regular basis keeps us sharp by improving logical thinking, heightening our sensory perceptions, and enhancing our abilities to problem solve, pay attention, be creative, and make good decisions. In other words? Sleep is a vital component of pretty much all the characteristics that make for an exceptional leader at work.

3. It prevents burnout. Getting enough sleep reduces stress, rejuvenates our bodies and brains, and promotes long-term job satisfaction so we remain productive for the long haul.

4. You'll be a better coworker. Adequate sleep improves our mood and decreases the chances that we'll be chronically irritable or impatient. Sleeping well also helps us regulate our emotions and behavior so we don't lash out at coworkers or clients.



How Sleep Deprivation Hurts

Some experts posit that even mild sleep deprivation is so damaging to productivity that it's worse than not eating for days. Not convinced? Here are just some of the ways that not getting enough sleep can wreak havoc on our performance at work.

1. It reduces our cognitive capacity. When we aren't sleeping enough, our brains lose their ability to process learning that takes place during the day, and our short-term memory goes down the tubes. This means that sleep deprivation makes us less able to consolidate information, process tasks, and concentrate at work, and it increases the chances of making a mistake on the job.

2. It decreases engagement. Sleep deprivation can cause us to feel less invested in our work, thereby reducing work performance. It's also been linked to decreased quality of life at work--meaning tired people aren't just less interested in doing their jobs well; they also feel miserable while working.

3. It costs us money. Harvard researchers have found that the average worker loses 11 days of productivity every year because of insomnia. That amounts to $2,280 per worker per year, or a whopping $63.2 billion annually.

4. It makes us sick. Not sleeping enough (or well enough) puts us at risk for a variety of physical and mental health conditions, including depression, anxiety, heart disease, kidney disease, high blood pressure, diabetes, stroke, and immune system deficiencies. Whether mild or severe, these health problems can severely inhibit our ability to be productive workers.

Need one more reason to make sleep a priority? All the top performers are doing it. Increasingly, research is finding that great performers make a point of getting enough sleep (at least eight hours a day), and companies are starting to take notice. More and more, top companies are enlisting sleep experts to weigh in on office culture and encouraging employees to get the rest they need--even if that means taking naps in the office.

Make sleep a priority in your own life by advocating for your personal sleep needs, practicing good sleep habits (e.g. not using electronics in bed and keeping the bedroom dark and cool), and enlisting the help of sleep supplements if necessary. Your body, mind, coworkers, and business will thank you.

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

What Drivers Need to Know About Deer Season and Car Insurance

October 26, 2015, 9:43 am

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Deer-car accidents can cause injuries, damage and even death, and are more likely to happen in late fall, when hunters are out and animals are on the move. In addition to endangering your health and property, an accident involving a deer can cost you thousands of dollars out of pocket if you don't have the right kind of car insurance.

About 1.5 million deer, elk and moose are struck each year, causing more than $1 billion in insured losses and affecting about one in 169 drivers, according to the National Association of Insurance Commissioners and State Farm. Collisions peak in November, the height of hunting and mating season. The average cost per insurance claim is $4,135, according to State Farm.

The insurance company also noted that animal collisions caused 191 driver or passenger deaths in 2013, the latest year for which data was available.

If you do strike an animal, damage to your car will be covered only if you have comprehensive coverage. If you lease your vehicle or have a car loan, your lender likely requires you to have this type of coverage. Comprehensive coverage is strongly recommended for all drivers, unless your car has very little value.

[How much does comprehensive coverage cost? Compare rates with NerdWallet's car insurance comparison tool.]

Collision coverage (which generally is sold as a package with comprehensive) won't pay for damage caused by hitting an animal. However, collision could apply if you swerve to miss an animal and hit something else instead, such as a fence.

Lori Vance, a State Farm agent in Morgantown, West Virginia, says drivers too often buy just the minimum auto insurance required in the state. In West Virginia, the minimum is liability and uninsured motorist coverage. That puts many West Virginia drivers at risk, especially because they face a 1 in 44 chance of striking a deer, elk or moose, the highest rate in any state.

West Virginia topped State Farm's list of states for collisions with deer, elk and moose for a ninth year in row in 2015, based on claims data, animal population levels and other factors.

"People are in the mindset that 'nothing will ever happen to me.' They don't want to pay for something they think they'll never need," Vance says.

Comprehensive coverage generally adds $160 to $300 to annual car insurance premiums in her area, she says. You can lower the cost of coverage by choosing a higher deductible, which is the amount you will be responsible for on any claim.

The trouble spots


Even though West Virginia is No. 1 for deer, elk or moose crashes, the risk for drivers there has decreased from last year's 1 in 39 chance, according to State Farm. Here are the five states where you are most likely to have a collision with a deer, elk or moose, according to State Farm:

Top five states for collisions with deer, elk and moose
Rank	State	2015 chance	2014 chance	Change
1	West Virginia	1 in 44	1 in 39	11.4% less likely
2	Montana	1 in 63	1 in 75	19% more likely
3	Iowa	1 in 68	1 in 77	13.2% more likely
4	Pennsylvania	1 in 70	1 in 71	1.4% more likely
5	South Dakota	1 in 73	1 in 82	12.3% more likely
Source: State Farm

(Want to know where your state ranks for deer-car collisions? Click on the map at this State Farm link.)

It's not unusual for deer-accident rates to change every year. Factors that affect the odds include deer population levels, winter weather, and new or improved roads with higher speed limits.

While November is the peak month for collisions, you're also more than twice as likely to hit a deer in October, November or December than in other months of the year, according to State Farm. These months are breeding season, which means males are traveling widely in search of females. Some herds also migrate during this time.

How to improve your odds


You're more likely to hit a deer in the hours from dusk until dawn, when the animals are most active. Improve your safety with these tips:
• Be extra careful when driving in areas known to have many deer.
• Deer often move in groups, so if you see one animal, slow down and look for others.
• Use high beams at night unless there is oncoming traffic.
• Do not swerve if you see a deer. Doing so could send you off the road or into oncoming traffic.

If the worst happens


Sometimes an accident is inevitable no matter how careful you are. Deer can dash out from cover with no warning, giving you no chance to stop.

If you hit a deer:
• Move your vehicle off the road and turn on your hazard lights. Call the police. If possible, take pictures of the scene and any injuries to passengers or damage to the vehicle, for insurance purposes.
• If the animal runs away after the accident, get a picture of hair or blood on the car to show that a deer was involved. Use this evidence to have the accident processed under comprehensive coverage.
• Get contact information from any witnesses, especially if the animal runs off. If witnesses are able to wait, ask them to report what they saw to the police.
• Even if you think the damage is minimal, check to be sure your vehicle is safe to drive. Look for tire damage, broken lights, fluid leaks or loose parts. You may need to call a tow truck.
• Do not approach the deer, even if you think it's dead. A wounded animal could injure you.

All of us are at some risk for hitting deer because they can be found just about anywhere, even in Manhattan. The right insurance policy plus defensive driving skills can greatly reduce your chances of injury and uncompensated expense.

How much would comprehensive coverage cost you? Find out with NerdWallet's car insurance comparison tool.

Donna Freedman is a contributing writer at NerdWallet, a personal finance website.


More from NerdWallet:
• 7 Surprising Factors That Can Affect Your Car Insurance Rates
• How Umbrella Coverage Can Supercharge Your Car Insurance Policy
• How a Ticket for Texting Can Affect Your Car Insurance Rates

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Sharpening the Saw: How to Take Time Off Without Losing Momentum (Or Your Mind)

October 26, 2015, 9:46 am

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There's one quality that virtually all entrepreneurs share: the desire to become their best selves. They aren't interested in seeing how much downtime they can steal away. Instead, they want to discover just how high their smarts and inner drive can take them.

When aspiring entrepreneurs are working full-time jobs while building new businesses, they typically use their "free time" working, learning, and making connections that can bring their ideas to life. And established business owners usually spend any down time trying to make their current projects better, or concocting the next big plans.

But this attribute can also lead to some, well, (to be blunt) stupid behavior. They'll work to the point of burnout. They'll see their groggy minds and dark circles under their eyes as badges of pride. It's proof of their dedication, rather than something that needs to be fixed.

You might be able to maintain that nonstop pace for a while. Months, even. But it's just not sustainable.

Occasionally, you're going to need to step away and take some time off.

But since you're an entrepreneur, you need to do it strategically. Here's how you can take a vacation, never allow your business to miss a beat, actually enjoy yourself, and come back with the energy and insight you need to crush it.

1) Prepare For A Business Without You

Here's the funny thing about taking a vacation as an entrepreneur. If you're a workaholic, you might fear that taking a little R&R makes you weak or lazy. But in reality, it's one of the best tests of your entrepreneurial skills.

Being a business owner who needs to constantly be there for their business is like being a clockmaker who needs to turn a crank to make their clocks work. The point isn't to create something that requires your constant input. The point is to make something that functions independently of you. After all, the more you can let go, the more your business can scale.

There are two ways to make a you-free business run well.

Delegate

Flex those managerial muscles. Think about everything you're responsible for in your day-to-day work. Who is responsible for what in your absence? Weeks in advance of your vacation, get crystal clear about what your business without your presence looks like.

Schedule Your Vacation Time Strategically

Startups tend to ebb and flow. Your operation might be hopelessly crazy for a few weeks and then relatively relaxed for a few weeks afterward. Schedule your vacation for a time when there are few meetings, no conferences, and little risk of encountering problems.

2) Only Respond To Emails At A Certain Time Each Day

You'll find plenty of entrepreneur vacation advice that says "unplug, throw your phone in the ocean, and just get away from it all!"

I'm not going to patronize you like that. If you're the kind of person who's able to completely disconnect from your business operations, more power to you. I say, go for it.

But if you're like most early-stage entrepreneurs I know, then you get queasy at the thought of being 100% disconnected from how your business is running. You're not going to cut off all lines of communication just because some guy on the Internet said it was a good idea.

What I am going tell you is this: turn off email push notifications on your phone. You don't need to react to every single email the second it hits your inbox. Instead, commit to a certain time each day when you'll glance at your emails. For example, commit to taking a peek at 6 p.m. every evening. And set up an away notification alerting people that you're not going to be instantly responsive. After you see your messages and you are satisfied, close your email app and don't look at it again until the next day.

You'll feel comfortable knowing how things are running, so it will be easier to just let go and indulge in your time off.

3) Set Emergency Triggers

"What if something happens while I'm gone?"

Most business owners are paranoid that a minor issue will snowball into a major problem, simply because they are away and out of touch. Even while hiking, enjoying an exotic meal, or taking in art at a museum, their thoughts drift to "What if my business is imploding right now, and I'm here doing this."

For those incidents that require your immediate attention, you can establish emergency triggers. When disaster strikes, you can make it so that you're notified.

Here are a few common emergencies you can plan for.

Your Website Goes Down

Every online business owner's worst nightmare is for a database problem, DDoS attack, or other snafu to knock their site out of commission. But you can get updated when this happens immediately through the help of Uptime Robot. This is a free service that monitors your site every five minutes. If it notices that your site is down, it will immediately send you an SMS message or other alert.

A VIP Needs To Get In Touch With You

There are some people you just can't ignore. And don't want to ignore. But unfortunately, important, powerful people tend to set the schedule, contacting you whenever they feel it's best. And if they email you, you don't want to make them wait half a day or more until you get back them. You want to know immediately.

You can easily be alerted by using IFTTT. This is an app that sets up triggers to certain events.

Let's pretend you're waiting on an email from a big shot investor, who may or may not email you this week with exciting news. You want him or her to pierce through your email blackout if they decide to get in touch with you. So you use IFTTT to send you a text message that says "KA CHING" when you receive an email.



Easy. Now only the most crucial emails can get through, and the rest can wait until you're done unwinding for the day.

A Partner Or Manager Needs Your Immediate Attention

You should, of course, also discuss with your colleagues the situations that would warrant an interrupted vacation.

What you deem to warrant an emergency contact is specific to your business. But for the sake of your vacation, and your health, please only limit these to genuine emergencies, the kind that can't be ignored. Or the kind that would make you kick yourself if you ignored them.

When you have these triggers in place, you can finally relax and stop feeling guilty about your time off. If you aren't getting the notifications you set up, you'll know that everything is running as intended.

No news is good news.

4) Know That You Are Preparing For Your Best Work

This is perhaps the most important, and the most difficult to grasp, piece of advice.

Don't see your vacation as a distraction from your work. See it as part of your work. You need occasional, significant breaks from the challenges of running a business if you want to be your best self. Going full throttle all the time, and never allowing yourself a few days to just relax and reflect on your life is like driving a race car every day without ever changing the oil. Eventually, something is going to break down on you.

If you're the type who always gives your best, then give your best to your time off. Enjoy leisurely, meandering days, just like you used to do when you were a kid. You won't just be de-stressing, you'll also allow the lessons you've learned as an entrepreneur sink in.

A strategic holiday might be the savviest business decision you make. When you do so much nothing that you get sick of it, you'll come charging back to your business with more creativity and inner drive than ever before.

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

The Rise of Coworking

October 26, 2015, 9:50 am

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The 2020 Intuit report starts with: "imagine a world where companies motivate and manage employees who never set foot in their corporate office." This is a distinct possibility in coming years. Technology is empowering an increasingly mobile workforce. It's not just employees who are mobile -- the makeup of workers in the U.S. (and beyond) is changing. Statistics today suggest that 33% of the workforce is currently independent or freelance, and as the infographic below suggests, this number is projected to be 40% by 2020.



Although many in the U.S. still have not heard of coworking, it will be a critical part of the evolving workforce. Starbucks coined the term "third space," which became an alternative to a home office, or a place to escape the office when you wanted to get work done. So if home is the "first space," work is the "second space," and coffee shops are the "third space," then perhaps coworking is the "fourth space" for the evolving workforce.

Although there is some argument about when coworking officially started, this timeline will give you details you didn't know you'd need. This map of Chicago provided by Jamie Russo of Enerspace Coworking shows that in the Chicago metro area alone over 40 spaces have opened in just the past three to four years. WeWork, the largest shared space provider in the US, states as their mission: "To create a world where people make a life, not just a living." This simple statement rings true, and many coworking spaces likely long to steal this mission statement as their own, as creating a place people love to work seems to be a common thread among these types of spaces. Clearly, WeWork is on to something: it was just valued at 10 billion dollars after less than five years in business, and valuations like this are bringing more visibility to this emerging category.

Who is using these coworking facilities?

1. The Freelancer- One of the main target audiences are the freelancers, again, projected to be 40% of the workforce by 2020. There are many unexpected challenges to going out on your own. Nicole Greene with NextSpace in Chicago explains, "Going freelance, workers lose their infrastructure, including social infrastructure, physical infrastructure, and health insurance. That [infrastructure] needs to be replaced. As society shifts and loses that infrastructure, we provide a net." Many of these spaces provide more than just social outlets; they offer other benefits such as group healthcare plans, payroll, benefits, legal, healthcare, web services, and even yoga. Benjamin Dyett with Grind in New York/Chicago describes it as, "Our job is to make their lives easier; to take away distractions so that they can focus on work. We are just the stage."

2. The Startup- Many startups or small businesses are beyond the point where they can work in their home, but are not ready to sign that lease yet. Coworking spaces offer them a professional office where they can work, meet with clients, and make connections to grow and run their business. Rahul Prakash, a partner of Hatch Today in San Francisco shares this example: "People from different backgrounds, who have different ideas, can cross-pollinate. A couple of years ago two people were sitting next to one another at our space. 18 months later they merged companies and raised 18M in financing. They wouldn't have known each other if they hadn't come to Hatch Today."

3. The Corporation- Although most would estimate corporate users to be less than 10% of users of Coworking spaces today, use by this group does seem to be growing. Liz Elam of Link Coworking in Austin says, "Corporate America has a problem. They have lots of corporate real estate and uninspired people. So, what do you do? Send them home. Now they are even less inspired." According to the above mentioned Intuit Report, more than 80% of corporations are planning to increase their use of the flexible workforce in coming years. Russo says, "Corporations are exploring coworking spaces to cut down commute times and explore innovations. Coke now has a coworking space. One of their objectives is to bring outside people in, so it is open to the public. Right now there are more tactical reasons for them to look at coworking spaces. Everyone is trying to figure out this serendipitous interaction piece. How does that work and how do you make sure that's actually happening?" Similarly, Verizon just announced a new development in partnership with Grind which they cite as a "center for new innovation and collaboration. "

4. Niche audiences- As the Coworking movement evolves, more niche explorations are popping up. Many of these facilities are solely focused on tech startups or some could be referred to as "entrepreneurial incubators" for a specific sector, but other niches are being explored as well. Prakash shared this example: Bespoke, a coworking facility inside the Westfield Mall in San Francisco, recently opened as a coworking and event space catering to retail. This allows brands to work, learn, and grow with exposure to 20 million annual shoppers.

But as anyone who has worked in a coworking space can tell you, it's so much more than a place. As Rebecca Brian Pan of Covo Coworking in San Francisco says, "You come for the space, but you stay for the community." Many of the founders of various coworking spaces around the country came from wildly different fields. There are many variations on stories like Pan's, "I got into coworking because I am the ideal user. I am not completely useless when I am by myself, but if I work at home for more than one day a week I lose all productivity. I realized that there are so many people just like me that think working from home and coffee shops will be awesome. They are leaving a traditional work environment, but upon actually trying it, after a few months, it's hard to be your most productive, happiest and most fulfilled self in that environment. Coworking solves all of that, it's almost magical."

Community was perhaps the most important -- and recurrent -- word in the interviews for this article. Dyett says, "In the future, coworking will become mainstream. New workers don't want to work for a company, they want to be a part of a community. I never got good business advice from my dog... that's why people pay the money to be part of a coworking community."

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

How to Turn Your Failing Business Around

October 26, 2015, 9:59 am

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They say embrace it but many of us hate it... FAILURE. Failure is viewed as a lesson to learn from but who really likes to fail with a business idea that they worked so hard to establish?

No one! And I don't care how you try to spin it as something to be proud of because you tried and learned in the process. Failure just doesn't feel good, especially if there are financial consequences for your failure, which can be painful.

The failure rate for small businesses is 80% within the first 18 months. That is an insane percentage of businesses, and far too large when a healthy economy is dependent on successful small businesses.

The common reason for small business failure is running out of cash. But this issue points to a bigger problem that is within most small businesses. The problem is that most people in business don't even know how to operate a business.

This lack of knowledge about business operations leads people to not being able to handle the many aspects of business ownership. Just because you "own" a business doesn't mean you actually have a business. A real business is a system of activities that support valuable products/ services, which have an active customer base.

When it comes to failing businesses, their process can be lacking within different sections of the above statement, which defined what is a real business. Failing businesses could be failing at the supporting system of activities, failing at providing valuable products/ services, failing at having an active consumer base or absolutely failing at all three.

The breakdown in understanding of these three basic business functions is what leads to the vast number of small business failures.

But it doesn't have to be this way. Yes, small business is a challenge but that doesn't mean that challenges should lead to failure. And I will tell you why that is the case with these 3 steps that will help any struggling business avoid failure.

1. Examine the Existing Problems
Failure typically occurs because business owners do not address the issues which are plaguing their business. Instead, they ignore whatever problems are occurring, hoping that doing so will make them just go away. The unwillingness to address problems only encourages them to grow, rather than become non-existent.

A successful business relies on you being truthful about every aspect of your business. If your marketing brings in people but you don't have a high rate of acquiring new clients, there is a breakdown in your sales. An issue like this must be analyzed because it exposes a major weakness in your business process. Businesses must know exactly how their issues effect business, why they are occurring and determine how they will be immediately addressed.

2. Implement Solutions Instead of Answers
Answers are just short-term band aids that have no major affect. Solutions are effective corrections, that provide long-term positive results. The majority of small business owners don't know the difference between the two.

When effective solutions are implemented to correct current operational errors, a business is positioning itself to sustain longevity in the marketplace. This is where accountability becomes a major factor in a business's ability to avoid failure, by implementing the effective actions which help your business to operate in order to attract success. Solutions mean completely eliminating bad habits that have put your business in a weak position.

3. Profits Over Revenue
There are far too many businesses that know how to bring money in but do not know how to keep even a small percentage of that money. Basic business lesson:

Revenue =total amount of money received for product and service sales
Profit = money left over after cost of doing business

You may hear of businesses that had millions of dollar in revenue but still failed. It is because their expenses were equal to or outweighed their revenue. A million dollars means nothing if it is gone as soon as it is made. A business should focus on keeping as much money as it can, so that it can be built up to rely upon during tough times. Most importantly, the more money left over after expenses, is money that can be invested back into your business.

The true reality is that some businesses will fail because they have far too many issues that make any solutions difficult to implement. But for those businesses that can be corrected and effectively turned around, I am willing to help through this blog and beyond.

Don't idly sit by and just let your business fail and say you learned from its failing. That's bull and you know it's bull.

This article was originally published on Entrepreneurial Ambitions.

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10 Interview Mistakes That Could Cost You Your Next Job

October 26, 2015, 9:59 am

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By Caroline Banton, Contributor

Knowing what to do in an interview -- and what not to do -- can make or break your job hunt. Apart from the more obvious interview mistakes, such as a poor appearance, limp handshake or lack of eye content, some mistakes might not immediately come to mind. Kevin Robson, a London-based recruitment consultant with Capable Consultants Limited, said, "Candidate mistakes can reflect a lack of respect, a lack of desire or both."

Visit GOBankingRates for updates on job seeking tips >>>


Respect during an interview is paramount. "One of my personal favorites was when a candidate came into the office with 'Eye of the Tiger' playing on their smartphone," said Val Matta, vice president of business development at CareerShift. "I understand the intention -- to show excitement about the job ... however, it doesn't really say anything about what kind of employee the young man was going to be."

Here are 10 more interview mistakes you'll want to avoid at all costs.

Learn: 11 Tough Interview Questions That Top Companies Always Ask

Mistake No. 1: Arriving Late or Not at All

If you're running late, call and inform the company. If you will be more than 10 minutes late, call and ask if the interviewers would rather reschedule. Kevin Crane, a retired U.S. Special Agent and author of "Access Granted," told GOBankingRates, "The candidate should have called and explained that they were running late and ascertain if it was still OK to come in for the interview. There may have been other candidates lined up for timely interviews already."

According to Crane, never miss an interview and then attempt to call days later to reschedule. "The candidate should have canceled as soon as possible and then rescheduled at that time."

Mistake No. 2: Inadequate Research and Preparation

Adequate research should provide ideas for insightful questions. Common interview mistakes include uninspired questions or no questions at all, which can reflect a lack of interest or initiative.

According to Barry Maher, motivational speaker and author, "One applicant I know went far beyond checking out the company's website and online articles about the company and actually called a number of employees who held the type of position she was applying for as well as several of their managers."

Maher explains that in responding to the interviewer questions, "the candidate was able to show her understanding of the specific issues these employees faced and the ways the company wanted to deal with those issues." Now, that's going above and beyond and will surely help your chances when trying to secure a position.

Mistake No. 3: Criticizing a Former Employer

Negativity of any form in an interview can be construed as bitterness, particularly when it is aimed at a former employer. If you must describe a negative experience such as a lay-off or a conflict, do so by stressing the positive.

Tim Toterhi is an executive coach and author of "The Introvert's Guide to Job Hunting." According to Toterhi, "Instead of venting, take the time to briefly note what you learned, what you accomplished and how this opportunity is the logical progression of your career. If pressed for why similar growth is not available in your current company, stay positive and offer a logical reason such as company size, newness of next level management or your desire to broaden your experience by switching industries."

Mistake No. 4: Stumbling Over Predictable Questions

Some questions are practically guaranteed to come up in an interview and not having a well-rehearsed, well thought-out answer will be disappointing to any interviewer. You need an answer that will either resonate with them or make them remember you.

For example, "Where do you see yourself in five years?" is not inviting the response, "To be married and living in a big house." When asked about your weaknesses, recount a previous experience and explain what you learned. For example, "It taught me that my reaction to a problem is more important than the problem itself."

According to Toterhi, "Sometimes you simply don't have the required experience or a specific skill spelled out in the job description or sought by the interviewer. Instead, demonstrate your integrity by acknowledging the gap ... then note a relevant trait you have that has yet to be explored. For example, maybe your volunteer experience can make up for a shortfall in formal education ... In the end, you both want the role to work."

Related: 5 Reasons You're Still Unemployed

Mistake No. 5: Using "I" Rather Than "We"

When describing your achievements, it's natural to use the first person "I." However, using "we" or referring to "the team" can show an interviewer that you encourage growth from other employees and appreciate the contributions of others.

"In a world of self-promoters, it's refreshing to find a candidate who acknowledges the efforts of others," said Toterhi. "That said, it's important not to inadvertently dilute your contributions. Be specific about your role in the accomplishment and detail exactly how you achieved it by noting the situation you faced, the action you took and the results you achieved."

Robson suggests including words such as "colleagues," "support" and "advice" in your responses as well. These keywords can help relay that you're a real team player and respect the support and hard work of those around you.

Mistake No. 6: Failing to Interview the Interviewers

An employer wants to feel certain that you will stay in the job for the long haul. One way to assure the employer that you are the right person is to collect as much information from the interviewers as they do from you so that you can make an informed decision if you receive an offer.

According to Monique Honaman, CEO of ISHR Group, "Candidates make a big mistake when they spend the entire interview selling themselves and no time interviewing the prospective employer. This should be a two-way discussion. We have coached many clients who jumped at a new role only to realize that they did not do their due diligence on the company and found out they didn't 'fit' with the culture."

So, always ask questions and interview your interviewer. This can also extend your interview, which can be helpful for you. Robson suggests that the length of your interview is a good indicator of your success.

"If you're in for a minimum of 45 minutes, you're 75 percent of the way there," he said. "Every additional minute implies another 1 percent certainty of good performance, so 46 minutes equals 76 percent and 47 minutes equals 77 percent. The way to extend the interview is to ask questions and build on interview minutes."

Mistake No. 7: Asking About Vacation or Daily Hours

Inquiring about a typical day is acceptable interview etiquette, but asking about typical hours is not. Although a practical question, it can show more of a concern for what the company can do for you rather than what you can offer the company.

"I was involved in an interview recently where the first three questions from the applicant were, in order, 'How much vacation time do I get?', 'How long do I have to be here before I'm eligible for a vacation?' and 'How long before I start to accrue additional weeks of vacation?'" said Maher. "What had looked like a great applicant, now looked like someone who couldn't wait to get out of work."

Maher continued, "The best questions show not just an interest in the job, but an interest in helping the company accomplish its goals. 'What would the perfect employee for this job look like for you?', 'In the best of all possible worlds, what would you like me to accomplish for you in three months? In a year? In five years?" Keep these positive questions in mind for your next interview, and skip asking about hours and vacation time.

Mistake No. 8: Disclosing Your Current Salary

Mark Grimm, a speaker and communications coach, said, "Telling the prospective employer what you make is a mistake for so many reasons. It gives them leverage when you get to salary. It may lead to them thinking less about your skills in circumstances where you were underpaid. It can create an artificial starting point that otherwise would have been higher. Just say, 'That's proprietary information,' if asked."

Some employers insist that you provide a ballpark figure for your desired salary. This gives you the opportunity to avoid a disappointing offer that you would be inclined to refuse by never disclosing your current salary. Give them the salary range you're expecting, not the salary you're making at your current job.

Mistake No. 9: Making Assumptions on Gender

Don't assume an interviewer's gender based on their name. Elle Kaplan is the CEO of LexION Capital Management, one of the only women-owned and run wealth management firms in the nation.

Kaplan said, "I see many make the mistake of assuming I'm a man during phone interviews. Nothing can ruin an interview quicker than hearing someone request 'Mr. Kaplan' or being asked to be transferred to the CEO. Not only does this show a lack of research, but also makes a rude assumption about gender in the industry."

Remember: Do your research, and know your interviewer. "I'd highly recommend all potential employees do their due diligence and avoid assuming anything before stepping into an interview or picking up the phone," is Kaplan's sage advice.

Mistake No. 10: Giving Up

John Hersin is a former Google executive and CEO of the technology recruiting software company Connectifier. He sees candidates who try to redirect questions and seem to give up too easily.

Hersin's advice is: "Don't ever give up. It's becoming more common for candidates to face questions about hypothetical situations or questions that require some analysis to come to an answer. Many people are so fearful of struggling with such questions that they try to redirect the conversation, or they just give up in hopes of moving on to something they are better about."

"If the interviewer asks you something, they often care as much about how you approach the question and that you keep pushing yourself in the face of a challenge," Hersin said. "No employer wants you to give up when things get hard on the job, so don't do that in an interview either."

Keep Reading: 8 Jobs That Will Become Extinct by 2030



This article, 10 Interview Mistakes That Could Cost You Your Next Job, originally appeared on GOBankingRates.com.

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-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

The Rise of the Internet of Things and the Race to a Zero Marginal Cost Society

October 26, 2015, 10:00 am

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This essay is the second in a four-part series on the theme, "The Third Industrial Revolution." An introduction by Arianna Huffington is available here. Part one is available here. Stay tuned for the next chapters and responses from leading global figures and technologists.

The bulk of the energy we use to heat our homes and run our appliances, power our businesses, drive our vehicles and operate every part of the global economy will be generated at near zero marginal cost and be nearly free in the coming decades. That's already the case for several million early adopters in the European Union who have transformed their homes and businesses into micro power plants to harvest renewable energy onsite. Currently, around 25 percent of the electricity powering Germany comes from renewable energies. By 2020, the country aims to increase that to 35 percent.

The quickening pace of renewable energy deployment is due, in large part, to the plunging cost of solar and wind energy harvesting technologies. The fixed costs of solar and wind harvesting technologies have been on exponential curves for more than 20 years, not unlike the exponential curve in computing. In 1977, the cost of generating a single watt of solar electricity was more than $76. By the last quarter of 2012, the cost of generating a watt had fallen to $0.50, and by 2017 the cost is projected to fall to $0.36 per watt. After the fixed costs for the installation of solar and wind are paid back -- often in as little as 2 to 8 years -- the marginal cost of the harvested energy is nearly free. Unlike fossil fuels and uranium for nuclear power, in which the commodity itself always costs something, the sun collected on rooftops and the wind traveling up the side of buildings are free. In some regions of Europe and America, solar and wind energy is already as cheap, or cheaper, than fossil fuel or nuclear generated energy.

The impact on society of near zero marginal cost solar and wind energy is all the more pronounced when we consider the enormous potential of these energy sources. The sun beams 470 exajoules of energy to Earth every 88 minutes -- equaling the amount of energy human beings use in a year. If we could grab hold of one-tenth of 1 percent of the sun's energy that reaches Earth, it would give us six times the energy we now use across the global economy. Like solar radiation, wind is ubiquitous and blows everywhere in the world -- although its strength and frequency varies. A Stanford University study on global wind capacity concluded that if 20 percent of the world's available wind was harvested, it would generate more than seven times more electricity than we currently use to run the entire global economy. The Internet of Things will enable businesses and prosumers to monitor their electricity usage in their buildings, optimize their energy efficiency and share surplus green electricity generated on-site with others across nations and continents.

The Energy Internet is comprised of five foundational pillars, all of which have to be phased in simultaneously for the system to operate efficiently.

1. Buildings and other infrastructure will need to be refurbished and retrofitted to make them more energy-efficient so that renewable energy technologies -- solar, wind, etc. -- can be installed to generate power for immediate use or for delivery back to the electricity grid for compensation.

2. Ambitious targets must be set to replace fossil fuels and nuclear power with renewable energy sources. To achieve this goal, feed-in tariffs need to be introduced to encourage early adopters to transform buildings and property sites into micro power generation facilities. The feed-in tariffs guarantee a premium price above market value for renewable energies generated locally and sent back to the electricity grid.

3. Storage technologies including hydrogen fuel cells, batteries, water pumping, etc., will need to be embedded at local generation sites and across the electricity grid to manage both the flow of intermittent green electricity and the stabilization of peak and base loads.

4. Advanced meters and other digital technologies will need to be installed in every building to transform the electricity grid from servo-mechanical to digital connectivity in order to manage multiple sources of energy flowing to the grid from local generators. The distributed smart electricity infrastructure will enable passive consumers of electricity to become active producers of their own green electricity, which they can then use off-grid to manage their facilitates or sell back to the Energy Internet.

5. Every parking space will need to be equipped with a charging station to allow electric and fuel cell vehicles to secure power from the Energy Internet, as well as sell power back to the electricity grid. Millions of electric and fuel cell vehicles connected to the Energy Internet also provide a massive backup storage system that can send electricity to the grid during peak demand, when the price of electricity has spiked, allowing vehicle owners to be appropriately compensated for contributing their electricity to the network.

The phase-in and the integration of the above five pillars transforms the electricity grid from a centralized to a distributed electricity system, and from fossil fuel and nuclear generation to renewable energy. In the new system, every business, neighborhood and homeowner becomes the producer of electricity, sharing his or her surplus with others on a smart Energy Internet that is beginning to stretch across national and continental landmasses.

An electric car charging station in Maine. (Whitney Hayward/Portland Press Herald via Getty Images)

The democratization of energy is forcing electricity companies to rethink their business practices. A decade ago, four giant vertically integrated electricity-generating companies -- E.ON, RWE, EnBW and Vattenfall -- produced much of the electricity powering Germany. Today, these companies are no longer the exclusive arbiters of power generation. In recent years, farmers, urban dwellers and small and medium-sized enterprises established electricity cooperatives across Germany. Virtually all of the electricity cooperatives were successful in securing low-interest loans from banks to install solar, wind and other renewable energies onsite. The banks were more than happy to provide the loans, assured that the funds would be paid back by the premium price the cooperatives would receive -- via feed-in tariffs -- from selling the new green electricity back to the grid. Today, the majority of the green electricity powering Germany is being generated by small players in electricity cooperatives.

While these traditional vertically integrated power companies proved quite successful in generating relatively cheap electricity from traditional fossil fuels and nuclear power, they have not been able to effectively compete with local electricity cooperatives whose laterally scaled operations are better at managing energy harnessed by thousands of small players in broad collaborative networks. Peter Terium, CEO of RWE, the German energy company, told Reuters that a massive shift is taking place in Germany from centralized to distributed power, and said that the bigger power and utility companies "have to adjust to the fact that, in the longer term, earning capacity in conventional electricity generation will be markedly below what we've seen in recent years."

A growing number of electricity-generating companies are coming to grips with the new reality of democratized energy and are changing their business models to accommodate the new Energy Internet. In the future, their income will increasingly rely on erecting and operating the Energy Internet managing their customers' energy use. The electricity companies will mine Big Data across each of their clients' value chains and use analytics to create algorithms and applications to increase their aggregate energy efficiency and productivity, and reduce their marginal cost. Their clients, in turn, will share the efficiency and productivity gains back with the electricity companies in what are called "performance contracts." In short, power companies will profit more from managing energy use more efficiently and selling less rather than more electricity.

The Automated, GPS-Guided Transportation and Logistics Internet

The meshing of the Communication Internet and the Energy Internet makes possible the build-out and scale-up of the automated Transportation and Logistics Internet. The convergence of these three Internets comprise the kernel of the Internet of Things platform for managing, powering and transporting goods in a Third Industrial Revolution economy. The automated Transportation and Logistics Internet is made up of four foundational pillars, which, like the Energy Internet, have to be phased-in simultaneously for the system to operate efficiently.

1. As mentioned previously, charging stations will need to be installed ubiquitously across land masses, allowing cars, buses, trucks and trains to power up or send back electricity to the grid.

2. Sensors need to be embedded in devices across logistics networks to allow factories, warehouses, wholesalers, retailers and end users to have up-to-the-moment data on logistical flows that affect their value chain.

3. The storage and transit of all physical goods will need to be standardized so that they can be efficiently passed off to any node and sent along any passageway, operating across the logistics system in the same way that information flows effortlessly and efficiently across the World Wide Web.

4. All of the operators along the logistics corridors need to aggregate into collaborative networks to bring all of their assets into a shared logistical space to optimize the shipment of goods, taking advantage of lateral economies of scale. For example, thousands of warehouses and distribution centers might establish cooperatives to share unused spaces, allowing carriers to drop off and pick up shipments using the most efficient path on route to their destination.

Container ship Josco View of Hong Kong, and Panama's container ship Mol Earnest sail through a port in Yokohama, southwest of Tokyo. (AP Photo/Koji Sasahara)

The Internet of Things platform will provide real-time logistical data on pick-up and delivery schedules, weather conditions, traffic flows and up-to-the-moment information on warehouse storage capacities en route. Automated dispatching will use big data and analytics to create algorithms and applications to ensure the optimization of aggregate efficiencies along the logistical routes and, by so doing, dramatically increase productivity while reducing the marginal cost of every shipment.

By 2025, at least some of the shipments on roads, railways and water will likely be carried out by driverless electric and fuel cell transport, powered by near zero marginal cost renewable energies, and operated by increasingly sophisticated analytics and algorithms. Driverless transport will accelerate productivity and reduce the marginal labor cost of shipping goods toward near zero on a smart automated Transportation and Logistics Internet.

The erection of the automated Transportation and Logistics Internet also transforms the very way we view mobility. Today's youth are using mobile communication technology and GPS guidance on an incipient automated Transportation and Logistics Internet to connect with willing drivers in car-sharing services. Young people prefer "access to mobility" over ownership of vehicles. Future generations will likely never own vehicles again in a smart, automated mobility era. Larry Burns, the former executive vice president of General Motors and now a professor at the University of Michigan, did a study of mobility patterns in Ann Arbor, a mid-sized American city, and found that car-sharing services can reduce the cost of traveling a mile by 80 percent compared to privately owned vehicles. He also found that a "shared fleet provides almost instantaneous access to a vehicle with a fleet of only 15 percent of the number of privately owned vehicles that would have been used for these trips."

A traffic jam in heavy smog, Beijing. (ChinaFotoPress via Getty Images)

There are currently at least a billion cars, buses and trucks crawling along around the world. Gasoline-powered internal combustion vehicles were the centerpiece of the Second Industrial Revolution. The mass production of these vehicles devoured vast amounts of the Earth's natural resources. Cars, buses and trucks also burn massive amounts of oil and are a major contributor to global warming gas emissions. Burns' study suggest a large number of vehicles currently on the road are likely to be eliminated with widespread adoption of car-sharing services over the course of the next generation. Those that remain will be electric and fuel cell transport, powered by near zero marginal cost renewable energy. Those shared vehicles, in turn, will be driverless and running on automated, smart road systems.

The long-term transition from ownership of vehicles to access to mobility in driverless vehicles on smart road systems will fundamentally alter the business model for the transportation industry. While the big auto manufacturers around the world will produce fewer vehicles over the course of the next 30 years, they will likely increasingly reposition themselves as aggregators of the global automated Transportation and Logistics Internet, managing mobility services and logistics.

The convergence of the Communication Internet, renewable Energy Internet, and automated Transportation and Logistics Internet in an operating kernel becomes the global brain for an Internet of Things cognitive infrastructure. This new digital platform fundamentally changes the way we manage, power and move economic activity across the numerous value chains and networks that make up the global economy. The digitalized Internet of Things platform is the core of the Third Industrial Revolution.

Distributed Manufacturing

Virtually every industry will be transformed by the Internet of Things platform and the ushering in of a Third Industrial Revolution. For example, a new generation of micro-manufacturers are beginning to plug in to the incipient Internet of Things and dramatically increasing their productivity while reducing their marginal costs, enabling them to outcompete the formerly invincible global manufacturing firms, which are organized around vertically integrated economies of scale. It's called 3-D printing, and it is the manufacturing model that accompanies an Internet of Things economy.

In 3-D printing, software directs molten feedstock inside a printer to build up a physical product layer by layer, creating a fully formed object, even with movable parts, which then pops out of the printer. Like the replicator in the Star Trek television series, the printer can be programmed to produce an infinite variety of products. Printers are already producing products from jewelry and airplane parts to human prostheses, and even parts of cars and buildings. And cheap printers are being purchased by hobbyists interested in printing out their own parts and products. The consumer is beginning to give way to the prosumer as increasing numbers of people become both the producer and consumer of their own products.

Three-dimensional printing differs from conventional centralized manufacturing in several important ways. To begin with, there is little human involvement aside from creating the software. The software does all the work, which is why it's more appropriate to think of the process as "infofacture" rather than "manufacture."

Visitors tour 3-D-printed houses at Suzhou Industrial Park in China. (ChinaFotoPress via Getty Images)

The early practitioners of 3-D printing have made strides to ensure that the software used to program and print physical products remains open source, allowing prosumers to share new ideas with one another in do-it-yourself hobbyist networks. The open design concept conceives of the production of goods as a dynamic process in which thousands -- even millions -- of players learn from one another by making things together. The elimination of intellectual property protection also significantly reduces the cost of printing products, giving the 3-D printing enterprise an edge over traditional manufacturing enterprises, which must factor in the cost of myriad patents. The open-source production model has encouraged exponential growth.

The 3-D printing production process is organized completely differently than the manufacturing process of the First and Second Industrial Revolutions. Traditional factory manufacturing is a subtractive process. Raw materials are cut down and winnowed and then assembled to manufacture the final product. In the process, a significant amount of the material is wasted and never finds its way into the end product. Three-dimensional printing, by contrast, is additive infofacturing. Software is directing the molten material to add layer upon layer, creating the product as a whole piece. Additive infofacturing uses one-tenth of the material of subtractive manufacturing, giving the 3-D printer a dramatic leg up in efficiency and productivity. 3-D printing is projected to grow at a blistering rate in the future.

3-D printers can print their own spare parts without having to invest in expensive retooling and the time delays that go with it. With 3-D printers, products can also be customized to create a single product or small batches designed to order, at minimum cost. Centralized factories, with their capital-intensive economies of scale and expensive fixed production lines designed for mass production, lack the agility to compete with a 3-D production process that can create a single customized product at virtually the same unit cost as producing 100,000 copies of the same item.

Making 3-D printing a truly local, self-sufficient process requires that the feedstock used to create the filament is abundant and locally available. Staples -- the office supply company -- has introduced a 3-D printer, manufactured by Mcor Technologies in its store in Almere, in the Netherlands, that uses cheap paper as feedstock. The process, called selective deposition lamination, prints out hard 3-D objects in full color with the consistency of wood. The 3-D printers are used to "infofacture" craft products, architectural designs and even surgical models for facial reconstruction. The paper feedstock costs a mere 5 percent of previous feedstocks. Other 3-D printers are using recycled plastic, paper and metal objects as feedstock at near zero marginal cost.

Someone with a 3-D printer can also power his or her fabrication lab with green electricity harvested from renewable energy onsite or generated by local producer cooperatives. Small and medium-sized enterprises in Europe and elsewhere are already beginning to collaborate in regional green electricity cooperatives to take advantage of lateral scaling. With the cost of centralized fossil fuels and nuclear power constantly increasing, the advantage skews to small and medium-sized enterprises that can power their factories with renewable energies whose marginal cost is nearly free.

Marketing costs also plummet in an Internet of Things economy. The high cost of centralized communications in both the First and Second Industrial Revolutions -- in the form of magazines, newspapers, radio and television -- meant that only the bigger manufacturing firms with integrated national operations could afford advertising across national and global markets, greatly limiting the market reach of smaller manufacturing enterprises. In the Third Industrial Revolution, a small 3-D printing operation anywhere in the world can advertise infofactured products on the growing number of global Internet marketing sites at nearly zero marginal cost.

A 3-D-printed prosthetic arm is fitted to a potential user in Okayama, Japan. (Trevor Williams/Getty Images)

Plugging into an Internet of Things infrastructure at the local level gives the small infofacturers one final, critical advantage over the vertically integrated, centralized enterprises of the 19th and 20th centuries: they can power their vehicles with renewable energy whose marginal cost is nearly free, significantly reducing their logistics costs along the supply chain and in the delivery of their finished products to users.

The new 3-D printing revolution is an example of "extreme productivity." The distributed nature of manufacturing means that anyone and eventually everyone can access the means of production, making the question of who should own and control the means of production increasingly irrelevant for a growing number of goods.

Many of Europe's global manufacturing enterprises will continue to flourish, but will be fundamentally transformed by the democratization of manufacturing, which favors a high-tech renaissance for small and medium-sized enterprises. Europe's manufacturing giants will increasingly partner with a new generation of 3-D-printing, small and medium-sized enterprises in collaborative networks. While much of the manufacturing will be done by SMEs that can take advantage of the increased efficiencies and productivity gains of lateral economies of scale, the giant enterprises will increasingly find value in aggregating, integrating and managing the marketing and distributing of products.

The peer-to-peer nature of the Internet of Things platform allows millions of disparate players -- small and medium-sized businesses, social enterprises and individuals -- to come together and produce and exchange goods and services directly with one another, eliminating the remaining middle men that kept marginal costs high in the Second Industrial Revolution. This fundamental technological transformation in the way economic activity is organized and scaled portends a great shift in the flow of economic power from the few to the multitudes -- the democratization of economic life.

It is important to emphasize that the transition from the Second to the Third Industrial Revolution will not occur overnight, but, rather, take place of over 30 to 40 years. Many of today's global corporations will successfully manage the transition by adopting the new distributed and collaborative business models of the Third Industrial Revolution while continuing their traditional Second Industrial Revolution business practices. In the coming years, capitalist enterprises will likely find more value in aggregating and managing laterally scaled networks than in selling discrete products and services in vertically integrated markets.

Jeremy Rifkin is the author of "The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism." Rifkin is an advisor to the European Union and to heads of state around the world, and is the president of the Foundation on Economic Trends in Washington, D.C. For more information, please visit The Zero Marginal Cost Society.

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The 5 Perspectives That Make Smart People Smart (10.1)

October 26, 2015, 10:23 am

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"The more you become nobody, the more you can become anybody. The more you become anybody, the more you become everybody."

A sign of cognitive development is your ability to see systems. As you become more intelligent you make sense of reality as a web of interconnected events in time and space, a coherent whole that fits together. Things don't just "happen." They "follow," naturally and logically, from the structure of the system and how it shapes its components' behaviors.

Another sign of cognitive development is your ability to take multiple perspectives. As you become wiser you make sense of human experience as a complex web of interconnected meanings, a multi-faceted jewel that shows up different to different points of view. Things don't just "are." They "appear to be" to a particular subject, with a particular mental model.

Different subjects, with different mental models will experience different realities. And the more you can liberate yourself from the illusion that things appear to you as they "really are," the more you will be able to experience reality from other points of view.

In other words, the more you become nobody, the more you can become anybody. And the more you become anybody, the more you become everybody.

In the following video, I introduce five essential perspectives that you can use to develop your wisdom and your compassion. In the next five posts, I will explore each one of them in more detail.

10.1 The 5 Perspectives That Make Smart People Smart from Fred Kofman

Should you have any trouble viewing the video, please click here to view on Fred's slideshare page.

Readers: How does looking at reality from these five points of view help you see something you didn't see before?



Fred Kofman is Vice President at Linkedin. This post is part 9.1 of Linkedin's Conscious Business Program. To find the introduction and full structure of this program visit Conscious Business Academy. To stay connected and get updates please and join our Conscious Business Friends group. Follow Fred Kofman on LinkedIn here.

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

Knowing Carly: From Corporate America to Political Ambitions

October 26, 2015, 10:23 am

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From my time at AT&T and Lucent, it seems that the public persona of Carly Fiorina is an accurate depiction. As people first observe, Carly is very intelligent, articulate and tough. I'd say, even steely. From my perspective of knowing her at both companies, I can safely say that Carly is also bold and brash -- as much so as any executive I've known.

Frankly, she'd probably even agree that she has, well, balls. But rather than literally being made of her husband's rolled up socks, as they were back in our Lucent days, by the time she launched the proxy fight for HP's merger with Compaq, we observed that they were made of nothing less than solid brass. She'd come a long way from somewhat more conformist days as part of the AT&T family.

With the rough ending of a rather dramatic tenure at HP, getting a new large-cap CEOship was not going to be easy. Carly dusted herself off, as I knew she would, and set her sights on something new -- politics -- the ultimate platform.

To be sure, she is certainly not afraid of the outcome of this election cycle. Any of Carly's fears or failures have motivated her to strive even further. I fully expect her to honor the concluding words in her Stanford commencement address: "Let your fear motivate you, not inhibit you." As we've seen, her Senate defeat didn't deter her. In fact, it motivated her to set the bar even higher.

Acoustically, Carly is very soft spoken, and she's calm under almost any circumstance. As a small example of her demeanor, upon the Lucent IPO roadshow, three management teams traveled the globe meeting with investors; red, blue and green teams. At one regional airfield, I believe it was Denver, without her team's scheduled ground transportation, she took command of a beat-up loaner car, normally borrowed by pilots, to take the group to their hotel. The problem was solved, and the investment bankers sent a picture. That's pretty hands on.

After the spin-off from AT&T was complete, Lucent had several years of good results. So much so, that financial analysts often felt we were "sandbagging" our expectations so that we could handily beat them. Helping to boost revenue growth, the company built an advanced telecom network for the Kingdom of Saudi Arabia and both manufactured and sold equipment in China.

As the stock price increased, we executed two stock splits, which kept the shares affordable for retail shareholders. Stock splits are generally viewed by investors as management having confidence in the future. Unfortunately, they also often coincide with stock price plateaus.

Around Lucent's pinnacle, the company announced its largest acquisition, Ascend Communications, for about 10-times its revenue. At the time the announcement was made, Lucent's share price was $107-7/8.

As Carly recounted the announcement of Ascend in Tough Choices:

I took center stage, turned my back to the audience, unbuttoned my jacket and slowly dropped it to the floor. When I was quite sure I had everyone's attention, I turned back around to face them. The bulge in my pants from [my husband] Frank's borrowed socks was obvious to anyone in that very big ballroom. 'And our balls are as big as anyone's in this room.' Rich [McGinn, Lucent's CEO] literally fell off his chair screaming with laughter... I'd made my point.

In celebration of the deal closing, Lucent's PR chief ultimately launched a colorful hot-air balloon.

Just a few weeks prior, we traveled to Atlanta together on one of the Gulfstreams to the annual SuperComm tradeshow. The plane was packed with executives and Carly was the highest ranking officer on the flight. She made some calls, and later rolled up her sleeves to open the plastic food trays that had been stowed for the flight, tearing off the cellophane. Here was the soon-to-be named CEO of HP serving everyone.

With air travel probably not at the top of her favorite-things-to-do list, serving us likely took her mind off the flight. It was a nice human moment where we shared M&Ms and all joked about being "captains of industry." Lucent also had a helicopter, for more local trips, and it was pretty well known amongst staffers that Carly would not take the helicopter.

Following the SuperComm show, Carly exited Lucent for HP -- and it was brilliantly timed. In hindsight, prominent short-seller Jim Chanos couldn't have had much better timing at calling the top himself. It was akin to a graceful chip shot onto the 18th hole center green, and course exit, while a fierce thunderstorm was on the horizon. Carly was able to leverage her spot on the cover of Fortune with her #1 rank on its Most Powerful Women In American Business list into the CEOship of HP. She would soon undertake the most controversial merger in tech history.

Around the time she left Lucent, the company was stretching to meet its financial goals, and it would ultimately miss them many times after her departure. The company had gone astray of its conservative Western Electric & Bell Labs pedigree under E. Wayne Weeks Sr. who drove a four-wheel-drive truck to work daily before his retirement. Lucent's first earnings miss was a huge shock and disappointment to Wall Street. I was with CEO Rich McGinn in his office when we called three of our largest shareholders to explain. As I read the phone numbers to McGinn, he punched them into his phone and paced the room tossing a football. He and optical exec Harry Bosco had to explain the issues with Lucent's optical networking division and why the company suffered its first earnings miss. It was a tense time and my suggestion to call a fourth shareholder was met with a scolding for being "tenatious."

The acquisition of Ascend was done to fill a product void, as Lucent had a minuscule presence in carrier data networking gear. Lucent's Bell Labs originally thought data gear was unreliable junk and never focused much on it. With the rise of the Internet, Lucent got left behind. But Ascend was a misguided bet on ATM technology at the peak of its lifecycle. Data focused rival Cisco was focused on IP, and was disciplined at never making large acquisitions. Ascend became a noose around Lucent's neck as growth went negative.

In irony, months prior to the first earnings miss, our CFO's house was literally stuck by lightening. But there could be no lightening rod installed to protect Lucent. In just a few years, annual revenues plummeted from $29 billion to $12 billion. In one year, it lost even more money than it took in. Ultimately, the company's stock would dip below $1 forcing tens of thousands of layoffs along the way.

The once thriving Bell Labs site of 4,000-plus employees in Holmdel, NJ that I first joined fell into disrepair and was ultimately shuttered. Many locations suffered the same fate. Layoffs were a continuous process, very far from "one and done." It was a painful and was no way to boost morale for remaining employees. Frankly, corporate disclosure seemed inadequate as the company even decided against having an annual analyst meeting. At one point during the downturn, the Lucent corporate PR team literally played the theme song from Annie, according to a former colleague who remained.

It's easy to blame an industry downturn for Lucent's troubles. But it wasn't just an industry downturn. Lucent was the first to start missing estimates, in part because of strategy decisions. It didn't produce an OC-192 optical system, leading to arch-rival Nortel garnering $5 billion in revenue from that product alone, until the market for it began to plummet. Optical networking was an important part of the service provider group that Carly had managed before leaving. And AT&T, a large customer, was rapidly diversifying its optical and wireless purchases to others.

In her book, Tough Choices, Carly was critical of CEO McGinn for not taking down the corporate guidance. But I doubt that McGinn wanted to lower the bar when rival Nortel was achieving similar results. The guidance was reasonable in the context of what Nortel was delivering, but not in the context of what Lucent was executing on, including Carly's former product units. Carly ran the largest division of Lucent, the service provider group, representing the majority of corporate revenue.

While there is more than enough blame to go around, those product units didn't deliver. In hindsight, there were aggressive sales practices leading to a "revenue recognition issue" related to stuffing distribution channels with product that ultimately needed to be returned, sales discounts as quarters came to a close, and selling "software rollups," whatever that involved, as well as a "whistleblower" lawsuit filed against the company by its head of North American service provider sales.

One large customer was even upset at the "craziest phone calls" toward the end of every quarter because he felt they were no way for Lucent to run a healthy business. It even became the norm to finance the working capital needs of upstart customers, financing more than 100 percent of purchases (think office furniture and payroll). Nortel went bankrupt and Lucent wasn't in great shape when rival Alcatel essentially bought it.

The proxy fight for Compaq clearly required balls of brass. And Carly proved that she had them. The HP-Compaq merger strikes me that it was so bold of a move, that pushing for it so forcefully simply went too far, taking on Walter Hewlett himself in a heated proxy battle. Proxy fights are usually launched by outsiders seeking management reforms, such as those by prominent activist investor Carl Icahn.

As son of a co-founder, and a major shareholder, Hewlett strongly opposed the deal. Some of his public comments during the proxy fight called for new leadership, specifically, "...I believe we will look for a current CEO with a track record for creating shareholder value and not get a CEO who again is learning on the job." The collective 18 percent stake of HP held by the Hewlett and Packard descendants were against the merger with Compaq. At the end of the day, Carly went toe-to-toe, and her efforts ultimately prevailed. Regardless of winning the battle for Compaq, the board later terminated her employment. In that sense, she kind of won the battle and lost the war.

This was not a woman who chose the easy road or who sought consensus for her life's choices. It was nothing short of a "damn the torpedoes" stance which could be particularly concerning if applied to military matters as commander in chief. This is the presidency we're talking about and each candidate, from Ben Carson to Carly, and Bernie Sanders to Hillary, must each be looked at carefully, as the Presidency sets the direction for the executive branch of our federal government.

In my interactions, as a midlevel former staffer at AT&T and Lucent, I felt that Carly seemed less open to opinions than some other officers were. Dialogue just didn't seem to flow both ways.

Though to be sure, having a woman somewhere on the Republican ticket would counter an opposing one with Hilary on it. As we look to the primaries, Carly will need to demonstrate the qualities of a consensus builder, one effective at establishing broad support for initiatives, rather than divisiveness.

The presidency is not a corporate CEOship where authority is checked only by the board and internal political foes. Being skilled at compromise and diplomacy are essential qualities to be effective. Meeting our foreign policy challenges -- including those of ISIL, al Qaeda, Iran, Syria, Russia and an increasingly confrontational and militarized China -- are clearly too numerous to be met with internal divisiveness. We must be aligned to meet these global threats, and to get our nation's economy on firm footing.

However this all plays out, I admire Carly for her tenacity; as she has demonstrated great balls. We just have to collectively decide if they belong in the White House.

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Follow me on Twitter @ TomLauria and www.TheFallOfTelecom.com

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Trans Hacking Startup Land: Gender Performance and Deception

October 26, 2015, 10:26 am

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"Oh I'm trans." There's that moment when you're chatting and the words sink in, the sudden lull in conversation, the blink between confusion and comprehension, when they realize that the person they perceive to be a woman was assigned male at birth. How people react, says a lot.

Early-stage fundraising is 20 percent fact and 80 percent spectacle, a magic show performed to convince, seduce, entice to follow a game changing vision and world changing riches. As someone who is non-binary and transgender, I learnt to dress and act neutrally, to sustain the magic circle of enchantment. I bound my budding breasts and wore baggy black clothing in sweltering summer heat, fabric layers as hot and oppressive as the identity performed. This magic circle was sustained, but narrowly. Always on the horizon edge, was the potential of a breakdown.

It's an additional weight, being a founder. The founding team is a crucial component in the startup narrative, which must be represented in heroic, epic and relatable terms. "I can be tricked by anyone who looks like Mark Zuckerberg," said Y Combinator founder Paul Graham in an interview by NYT, and that's the crux of the problem. Appearances matter, and it's hard to fundraise or get any sort of exposure while trying to change your name, gender and pronouns. Before I was visibly trans, I had connections with people in one gender, one name that was different than my current one. When I met them in person, the charming startup narrative disintegrated.

It's easier to pitch, to tell a story and present your product with one clear personal identity. My nebulous genderfluid and non-binary trans identity was difficult for people to understand, much less empathize and relate with. Besides, how else can you tell a 30 sec elevator pitch? The entire format, the magic show, is based on distilled soundbites made simple with helpful stereotypes. The hardest part was the transition period, the (git)merging of identities conflicting online and in person into a single, easily swallowable story. Still, there's an awkward air when friends and acquaintances from separate life-spheres collide into a combustion of pregnant pauses, long silences and no eye contact.

Even though investors and other connections were more receptive now, there was still the problem of appearances, and being relatable. It was a structural problem, where the top tier investors tended to invest in those like them, and as such, this homogeneity restricted the flow of capital to a larger, more diverse community of entrepreneurs. After all, there's only so many people who can look like you, talk like you, go to the same school and work in the same few companies that "everyone" goes to. As you move down the capital stream to smaller funds, you can see more diverse funding sources open up.

My co-founder and I did our best to find like-minded individuals, angels or venture funds.

After I moved away from being gender ambiguous, I unbound myself and started presenting as a queer woman. I reached out to many LGBTQ* startup allegiances for help with fundraising. That was where I met more hostility than ever before.

Every community has an extremist cell. Unfortunately for lesbians, whom I identify with, one loud vocal minority known as Trans Exclusive Radical Feminists (TERFs) overwhelm the 99.8 percent that are amazing people.

Ideologically, TERFs believe in the classic gender binary, female and male. They don't accept transgender or any non-binary gender identity. They are particularly hostile towards transgender women for what they believe is appropriation and exaggeration of the feminine. They've fought hard to re-define femininity away from this stereotype and see trans women as reinforcing it.

To some degree it's understandable, since newly self-realized trans women tend to go towards an extreme form of femininity to "pass" as women. This performance of hyperfemininity can be read wrongly especially in a delicate situation. At the same time, trans women need to adopt feminine signifiers to blend in and lead a normal life, else they risk being questioned, harassed, threatened in their daily lives. Trans women tend to be disproportionately targeted by hate groups, and they would feel despair and terrified if they can't "pass" in general society.

There's so much micro-aggression against being trans that it's hard to recall specifics. One incident sticks to my mind, and that was my first lesbian tech meetup. I remember how excited I was, discovering meetups dedicated to lesbians and queer people, whom I identified with, their front page proclaiming how this was a new type of tech meetup, one that was open and embracing diversity, a safe space and alternative way to the typical Silicon Valley "bro-sphere."

The evening started great. I met other startup founders, and exchanged stories with them. It felt good to be able to express myself, and talk about the startup and product without worrying. One investor seemed especially interested. She was connected to a large funding network, she said, one of the LGBTQ* friendly ones.

The questions started simple. Who we were, what was our space, what was our product and how it fit the market. I was prepared for those. Then it started getting personal, more strange. You've accomplished a lot, she said, how did you do all that as a woman? She scanned my clothing, from boots to shorts to tunic t-shirt and stopped at my breasts. I wanted to cross my arms, or put on a jacket. I wanted to hide. I told her some of issues I had at different workplaces, but didn't mention the trans part. I didn't think it was important.

I guess she did think it was important. I guess I should've mentioned it sooner. I guess she was shocked, or angry. I guess she felt cheated, that I had "fooled" her. I wouldn't know, because she never connected back to me. Nothing. 5 emails, 3 LinkedIn connect requests, 2 tweets, 2 Angelist requests and 1 warm introduction from another angel group later, still nothing. Just absolute silence.

Such silence, while hurtful, wouldn't matter as much if it didn't affect a large number of entrepreneurs. TERFs partially control many LGBTQ* startup funding groups, such as the investor I met at the lesbian and queer tech meetup. When I met them or some cases video-chat across the country with them, they read me as cis-lesbian. However, when the conversation continued or due diligence started and we went into our personal backgrounds, they'll inevitably discover the trans part. Instantly, the conversation stops. No more meetings. No more emails. I've gone through this process before, but never so abruptly and unprofessionally from anyone else. Even the most tech bro-iest of bros, and that's saying a lot!

We like to believe that one kind of openness begets another, and that one call for diversity, creates more willingness to explore new possibilities with different types of entrepreneurship. Unfortunately, this isn't the case. Top tier funds are now more exclusive than ever, since there are now other dedicated funds for diversity. The logic goes: if someone else is being diverse, then I don't need to be. I can stay in my own enclave. It's now someone else's responsibility. And this echo chamber effect downstreams, where each community becomes less risk-opportunistic, less open and less willing to engage with anyone who doesn't fit their narrow definition. The echo chamber of Silicon Valley has expanded into an echo labyrinth.

I don't know if there's a solution to this, or if human behavior can ever be truly 'disrupted.' All I can do is keep pushing forward, keep improving our product, keep pitching and smiling and hope that one day, we can make the future we dream of, magically, beautifully, openly, real.

Also on HuffPost:

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How Science Can Inform Good Leadership

October 26, 2015, 10:42 am

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We've all had "those days" at work where nearly everything seems to go awry. From that traffic jam delaying your first meeting to opening an inbox full of bad news, our patience and well-being are tested more often than we'd like.

For managers and leaders, reactions to these challenges can set the tone for the rest of the workplace. Add on to this the slew of distractions we face, which are estimated to cost U.S. workplaces billions of dollars each year, and it's amazing we get anything done!

As a neuroscientist who studies people of all ages and walks of life, I've gathered insights over the decades that can alleviate distraction, dissatisfaction and suffering, especially for people at work, including executives and leaders. It's become clear the workplace deeply shapes our well-being -- it's the place many of us spend the majority of our days and lives.

So how can we take insights from science to inform well-being in the workplace, particularly for leaders? This is the exact topic New York Times reporter and author David Gelles and workplace mindfulness expert Golbie Kamarei and I plan to tackle during a free webcast at this year's Mindful Leadership Summit.

To begin, here are three strategies for leaders and managers to consider:

Focus and Presence

I gave a talk recently where a member of the audience asked how we can avoid feeling overwhelmed by the inundation of information and data in our personal and professional lives -- a great question I know psychology and science can begin to shed light on. The reality, I answered, is that technology is neither going away nor slowing down any time soon. Information will continue to overwhelm us, likely in record amounts we've never seen before. But how we relate to it, mentally and physically, matters greatly.

For instance, the moment we feel our phones vibrate inside our pockets, our impulse often drives us to take it out immediately and to interrupt the task at hand. Of course, this may be necessary if you're waiting to hear from someone or are on call; however, for the vast majority of us, especially at work, research shows it can take people up to 23 minutes to rebound from distractions -- for the person to truly dive back into what he or she was originally focused on.

From neuroscience research, we know that simple exercises such as mindfulness meditation and focusing on the breath can increase focus and strengthen connections in the brain related to executive function and goal-directed behavior (aka dedicating that deep focus needed to wrap up that project). We also know that multitasking is a myth, so closing your email and silencing notifications while dedicating yourself to the task at hand will pay off and can enable you to be more focused and to think more clearly about important decisions for your team.

Listening

The most common challenge I hear about from companies participating in our workplace curriculum is how leaders -- and any employee for that matter -- can be physically present, but mentally absent from the conversation or task at hand. This can be especially dangerous for leaders, who set the tone for interactions and group gatherings.

If leaders are bent over their smart phones rather than paying attention to an employee presenting in front of them, how can they possibly make the most informed decision about the topic being discussed? How can they expect their employees to feel heard or valued? But even less overt forms of distraction, such as seeming to pay attention but having your mind on the next meeting, will be felt by those around you.

Being truly present -- feeling yourself in your seat, noticing your breath, being aware of emotions as they arise and focusing on listening and the body cues of those around you -- can improve quality interactions in the workplace.

I would argue to take this a step further and consider not only listening, but listening with compassion. We're just beginning to understand how the brain works, but there's early evidence suggesting that you can train yourself to become more compassionate, and that such training alters activity in the brain and your ability to behave altruistically toward others. This centers around the idea that everyone shares the wish to be happy and avoid suffering. I've seen compassionate leaders in action, and there's a noticeable difference in how members of their teams engage with one another.

Emotionally-Balanced Decision Making

At an interpersonal level, office politics and leadership dynamics can affect our stress and well-being. You're likely aware of the negative effects of stress, but it's also been known to shape the brain in key areas, including the amygdala (important for negative emotions such as anger and fear) and the prefrontal cortex (influencing self control and decision-making). When our brains are in "reactive" mode or are on the defense, our interactions with others are at risk of coming from a place of anger.

Studies, including one from our lab, are beginning to unearth how these relationships work, but what we know so far points to a relationship between activation of the prefrontal cortex and emotion regulation. Creating distance between yourself and your emotions by noticing them can help with this and can be achieved through mindful awareness and practice.

Taking time to partake in stress-reducing practices such as physical exercise, stretching, meditation and journaling (to name a few) can help create the space needed to make decisions that are not only thought through, but also respectful and coming from a place of emotional balance.

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The 3 Core Ways to Build a Personal Brand

October 26, 2015, 10:43 am

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Amidst an era where social media has dominated the ways in which we receive, interpret, and communicate information, personal branding has become a crucial part of our expression, and a key factor of how we are absorbed and understood by others. There are three key elements we can work on in order to develop our personal brand: publishing content, getting press, and handling interviews.

1. Publishing Content

Adrienne Monson, well-known novelist, travel writer, and author who covers topics from fantasy, to urban fantasy, to paranormal romance, strongly advises the importance of publishing content to build a personal brand. The ability to create content and make the content easily and readily available to viewers plays a significant role in creating and maintaining an image. It is an excellent way to connect with your customers, and to provide them value.

Down the road, one of the ways to brand yourself as an industry expert is by publishing books, which is the main ways Monson has built her image today. Building a website that houses your work is an effective way to communicate with your clients and prospective customers. Thus, novels and websites work together to reach a large audience. We should take from Monson the importance of releasing content - books, articles, blogs, videos -- anything that will draw the attention of others.

2. Getting Press

When building personal brand, it is critical that other people see it. To do this, press is necessary. Adam Torkildson, owner of Tork Media, is an expert on helping businesses use press to turn turn their ideas into revenue. Statistics show that getting press can result in increases in sales and productivity for a company. So how do you go about getting press?

The best tools to to help you get press include PR outlets, Amazon, and sourcing outlets. Depending on your audience, you can decide which forms of digital media, articles, or other forms of press are most effective.

3. How to handle interviews

The manner in which you present yourself in an interview if often just as important (if not more important) than the content you present. Melissa Thompson demonstrates that content isn't enough; it is necessary to have the skills to communicate and articulate this content. Properly displaying your message, one of the items in her media training boot camp, teach people how to best handle media

Personal branding is all about how well you can present yourself, and how well you can articulate your idea and convince an audience to stand behind you. Everyone has good ideas and a good message. In fact, there is so much content out there that it is often hard for people to form preferences and strong opinions to differentiate products, events, and, in Thompson's work, candidates. Distinguishing yourself as a candidate is not merely about working on your resume. With a workshop, coaching, and practice, one can achieve the skills necessary to execute a cogent interview.


When it comes to personal branding, appearance is as important as message. Being a multi-faceted project, personal branding has no quick-fix. However, by focusing on elements like press, and even building a personal website, one can gain traction towards securing the personal brand they desire. Digital media is especially important when it comes to branding, which is why it is necessary to give sufficient attention to your social media profile. The first step? Understanding yourself. From there you can establish the goals of your personal brand, and begin to start creating it.

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When Image Is Everything, Brands Need Timely, Authentic Creative

October 26, 2015, 11:14 am

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Visual storytelling has historically been confined to the images that media and entertainment companies place on front pages, magazine covers and TV screens. That's no longer the case, though. An entire generation has grown up with a combination of camera and computer in their pockets, giving them the power to share their personal stories through original or repurposed visual content. The rise of social platforms like Facebook, Instagram and Snapchat has only made it easier for consumers to simultaneously experience and broadcast life's moments.

This kind of visual storytelling is not a trend, but an evolution in how consumers communicate with one another. Naturally, brands need to keep pace if they want to be part of these consumers' lives. Yet the opportunities to appear in a feed are fleeting, often so short that brands must make an immediate impact or else go ignored. To fully take advantage of this new paradigm, brands must embrace a combination of authenticity, emotion, and experimentation.

Remain Authentic
Within these new channels, the creative itself is the star and must be optimized around the consumer's mindset. Brands have to appear authentic to both themselves and the delivery channel. In other words, their message can't look or feel like advertising.

Achieving this authenticity requires brands to be more humble than they've perhaps been in the past. Rather than push their message, they must be unobtrusive. One emerging technique is for a brand to collaborate with a photographer with a large following on a visual channel like Instagram, subtly working the brand into the photographer's images. This may require advertisers to cede some control of how their brand is represented, but the goal is to fit into the channel. Authenticity is only achieved when the brand's presence makes sense.

Emphasize Emotion
When a brand feels authentic, it can then earn a strong emotional response from the consumer. With such a small window of opportunity, achieving this immediate connection is far more important than it has been in the past.

It's crucial to consider how people arrive at emotions, and how that translates across the country and around the world. A single visual can't tell a brand's story the whole world over, and an image that elicits an emotional response in England may not achieve the same result in the U.S. or Germany. It's the company's and the communicator's job to find creative that delivers the desired reaction in each relevant market.

Experiment Regularly
Of course, the landscape will change over time as well. Working with established Instagram photographers may be massively popular right now, but that's no indicator of success in six months.

These visual platforms evolve constantly, as do the devices consumers use to access them. Improved camera resolution, increased creative controls and emerging apps will all change how consumers communicate. Therein lies the need to constantly experiment with new avenues of communicating, embracing emerging channels and new ways of reaching their audience. They key is to meet consumers where they are, rather than getting caught up trying to replicate old media style messaging.

Above all else, brands need to remember that visual storytelling is now the norm. By embracing authenticity and cultivating emotional connections, brands can play a role in consumers' lives.

This article is a part of a series exploring communications and media trends in honor of the second annual Communications Week, a week-long series of events celebrating the communications industry, held from October 19-23, 2015. Follow @CommsWeekNY

Post by Greg Bayer, GM, Offset by Shutterstock. You can follow Offset by Shutterstock on Twitter at @offsetimages

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Disney on VICE

October 26, 2015, 11:30 am

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I'd like to share a news story.

New York Post

Adweek

An important news story from the U.S. that will soon affect the world...in fact, already does....

Hailed by the media, analysts and assorted expert pundits...yet is a powerfully explosive proof point of the way digibabble limits our thinking and clouds our reasoning.

News that is exciting, and as a longtime and passionate fan, news that I consider to be critical to those who are into myth busting and true innovation.

I refer to the story that Disney will be investing in VICE Media's TV initiative.

TV? Must be wrong -- not VICE Media -- the once-free bad-boy magazine from Canada that morphed itself into bad-boy digital news and content -- launching a TV network? Cable, no less?

Say it ain't so!

TV?

But my hero Shane Smith gets it -- CONTENT, folks -- and make it easy to see (drive broad distribution). Don't get caught up in the digibabble of TV being dead -- what does that mean, anyway?

They have proved it on HBO (yes, HBO) and no doubt when A&E launches and VICE has clear and unobstructed access to some 26 million households in the U.S., they will kill it -- as their audience expands and as their news show on HBO delivers buzz and new audience demand.

And, no slouch he, they are also expanding their online destinations, as I will bet that the cross-platform feed will be exponential -- not just incremental.

Bottom line... while others pontificate that TV doesn't exist anymore; sermonize on the "fact" that young people don't watch TV... which doesn't exist anyway; posture about how to use channels as if content is irrelevant -- VICE is nailing it.

Let's be clear and limit the knee jerking: streaming obvious, mobile obvious Snapchat and everything else obvious...whatever-is-the-next-fad obvious...

But folks, people need and want great content no matter what age they are, and they will follow that content -- particularly if it's made easy to find and watch.

Why do some continue to believe that everything not of this morning is dead and gone?

The digibabblists are hard at work belittling whatever they view as old, while twisting themselves into knots trying to justify all the new that doesn't work...work meaning driving business as opposed to just ephemeral audience.

The message isn't that old is better or that new isn't good. Do me a favor and drop kick that knee jerk...

Look, I could be cynical and pull up all of Shane's quotes denigrating TV and everything associated with it. You can find them yourselves.

My view is that true innovators who want to make an impact, who really want to change the world and innovate themselves -- they pivot from the simplistic, siloed, partisan views they or others began with, and realize that in order to create revolution, you need deep and serious engagement, big audiences and simple access. Apple building on Microsoft and then Microsoft emulating Apple is a great example in my book, and I hope you will share others as well.

But to understand VICE and what the real opportunity is here, listen to Shane:

I never thought we had a chance of impacting anything. I am just starting to realize that we can change things -- not just VICE, but all of us. In fact, we have to.

-- Shane Smith

And there you have it.

I don't mean for this to be a shill piece for VICE, as much as I like them, and I know them from the start.

It's that I do believe, in my heart of hearts, that this story is a metaphor for how we need to approach the world. WE CAN CHANGE THINGS, but not if we trade one set of limiting prejudices for another.

What do you think?

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