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Why Great Leaders Set Boundaries

Sandi Krakowski, Entrepreneur

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D. Sharon Pruitt / Flickr

It takes less than two seconds to send a tweet and just a few quick minutes to send an email. Our digital world has not only caused our output at work to increase and become easier, with so many mobile-device options, but it’s also caused many business owners to forget some basic rules of good business.
I currently reach more than 650,000 people through my social-media connections. As a consultant and thought leader, people turn to me every day for motivation, insights, strategies and more. In the middle of the hustle to create great content, making sure we’re being consistent, producing new products, running masterminds, hearing what our customers are saying, giving our best service and working to grow our client base by thousands of people per day, it is very easy to lose sight of the fact that we don’t need to be working 24/7 to be a success.

Boundaries and good company policies are not only a sign of good business management but they are also an act of faith. If I’m burnt out, stressed out and not making money, assessing my current marketing plan is critical. But so is reviewing where my time is going in a world that can suck away hours quickly through something as small as a smartphone. This is where faith comes in. If you think this will be easy, you’re kidding yourself. It will take discipline, hard work and a lot of belief in yourself and your company. Learning to love your customers while simultaneously ignoring your critics takes a lot of courage and conviction.

To serve customers in this generation requires that you are not only good at what you do and can manage people and your time well, but it also requires that you understand how to do so in a global digital space, where anyone and everyone can voice their opinion and get a hold of you 24/7.

Here are a few key pointers to setting up good business practices that ensure good, old fashioned customer service, while also setting the boundaries necessary in our mobile, fast-paced culture:

Just because anyone can get a hold of you 24/7 doesn’t mean you have to answer. On a tele-class I recently did with 2,800 students, I asked coaches from various industries what their biggest challenges were. I also asked this same question on social media a day later. Having boundaries was in the top-three listed concerns. How to keep people from invading their personal life was a pain point many brought up. This overlapped with how to stop working all day and night, seven days per week.

Even in an online world we need to have posted hours, policies and processes we follow. This is not so much to cover our backside as it is to make our workplace enjoyable for our clients and ourselves. No one can work 24/7 and live a happy life. Quit kidding yourself. Set up regular office hours and then abide by them. Just because someone can tweet you any time of the day doesn’t mean you have to answer them in real time. Email doesn’t have to be answered every time something comes in. By stopping the habit of attempting to answer everyone anytime they write, ask a question or present a need we not only will protect our sanity as a business owner, we’ll model for our clients what good business is. Be on top of your game when you are at work. Quit wasting hours talking to friends all day on Facebook. Work hard and play hard.  This is good business.

Take responsibility. If people are calling you all day long, it’s your fault.  Go back to square one and ask yourself why they have the access to do so.  Remember that just because your phone number is posted on your website doesn’t mean you have to answer the phone 24/7. In addition, if you listed your cell phone number on your website or in your emails as the preferred mode of communication, then it’s your own fault if your phone is buzzing at all hours of the day.

People are predictable. They will call at odd hours. Stop getting so upset. Truth be told, we’re acting unprofessionally if we give everyone the phone number of the device we carry on our body all day long.

Use a business phone service that goes to an answering service and routes calls to you during normal business hours. Send them to voicemail during your off hours. There are many options when it comes to a virtual switchboard. Even if you’re the only person in the office or your company, use a tool like this to set yourself up for success. Get an assistant as well. A person who is available for anyone at any time isn’t giving good service or over-delivering. Rather, they are over-extending and probably not really as much of an expert as they say they are. Experts aren’t available all day long. They also take responsibility for their time.  In business, time is money.

Quit giving away your services free. If I pay you for your expertise but a schmoozy email from a friend can cause you to just give away your services at the drop of the hat, not only is this unprofessional, it’s unethical. Far too many business owners give away their time and then wonder why people won’t pay them their service fees. You paid to get to where you are in your professional skill level, so stop getting sucked into two-hour ‘let’s just have a cup of coffee’ meetings with people who say they want to pick your brain. This isn’t good prospecting. It’s actually an act of desperation and is rooted in fear.

Read more: http://www.entrepreneur.com/article/231050#ixzz2rjWDnJXa

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Under the Radar Hidden Gems in Business Educationhttp://www.internationalbusinessguide.org/business-education/

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NEWS RELEASE

FlashStock Inc. Closes Seed Round; Develops Stock Photography Platform for Branded Content

FlashStock Inc. is the first-ever platform to provide brands with their own affordable and scalable library of customized images built by a growing network of consumer photographers.

NEW YORK, NY / TORONTO, ON (January 21, 2014) – FlashStock Inc. completes seed stage round of financing to continue development of its on-demand stock photography platform.

FlashStock provides brands a steady stream of customized, on-brand images sourced from a growing global network of consumer photographers in real time via smartphones.  The service provides simple, safe and easy to understand rights management, helping to reduce legal and ethical risks associated with the use of social media images in marketing campaigns.

Different from other stock photography services, the FlashStock model allows brands to co-create authentic online and traditional marketing campaigns using on-brand images gleaned from the collections of a select group of photographers called the FlashStock Flasharazzi.  The Flasharazzi consists of consumer photographers from around the world who capture brands and/or moments that suit a brand’s described concept.  This on-demand service saves brands time and money they would otherwise spend sifting through large photo collections or directing expensive photo shoots.  Images are quickly vetted for quality and uploaded to the FlashStock image library, ready for immediate use by client brands.

FlashStock’s platform and incentive program offers photographers the opportunity to be part of a community where they can learn from one another, gain visibility for their work in advertising, and earn between $10 and $200 per month in addition to credit-based incentives. Prospective photographers may apply to join the Flasharazzi by submitting portfolios to www.flashstock.com or flasharazzi@flashstock.com.  Portfolios are reviewed and evaluated based on creative merit, quality of work, and geographic location.

Brands can subscribe to FlashStock with fees starting at $1,250 USD per month.

FlashStock’s Board of Directors include:

Tom Arrix, former Vice President of Global Marketing Solutions (North America) at Facebook
Chris Burggraeve, former Chief Marketing Officer of Anheuser-Busch InBev; Founder, Vicomte LLC
William Campbell, former Senior Advisor at JPMorgan Chase & Co and Chief Executive Officer of Global at Citibank
Michael Scissons, Chief Executive Officer of Grid Ventures, Executive Chairman of FlashStock
Grant Munro, Chief Executive Officer of FlashStock
Additional advisors and investors of FlashStock include Kevin Colleran, Ryan Holmes, Jonathan Carson, Shane Steele, Steven Gerbsman, Simon Mansell, Mike Parker and Jonathan Lister among others.

“Marketers around the world are struggling to access high quality, customized images at a reasonable price,” says Michael Scissons, Executive Chairman of FlashStock.  “FlashStock offers companies  a network of consumer photographers that creates the ability to build customized content catalogues based on their marketing needs.”

“In my time at Facebook it became clear that high quality images (content) drove the best results,” stated Tom Arrix, FlashStock board member and former Vice President of Global Marketing Solutions (North America) at Facebook. “Brands and agencies continue to struggle to deliver consistent, great content, at scale. Cost or lack of budgets to produce the content has always slowed things down.  FlashStock is a platform that provides the ability to change this and I’m excited to see its impact on revolutionizing the industry.”

“Far too many companies and agencies assume that it’s okay to use unpaid photos shared via social media without requiring the photographer’s and/or model’s consent,” opined Grant Munro, Chief Executive Officer of FlashStock.  “In 2013 we saw a wave of litigation that continued to set precedents on these issues.  Among FlashStock’s key commitments, we strive to make rights management easy and safe for companies of all sizes.”

FlashStock is currently accessible through an invite-only or closed beta platform. Companies/brands and photographers can request an invitation by visiting http://www.flashstock.com or by emailing info@flashstock.com.  An official public launch will follow later this year.

About FlashStock Inc.
FlashStock Inc. is a provider of customized on-demand visual content to brand-based clients and agencies in North America and the United Kingdom.  Working with its global network of consumer photographers, FlashStock adds thousands of client-briefed photographs to its collection each week.

The company’s sales and marketing is headquartered in New York City with development based in Toronto, Canada. The company was founded by Grid Ventures, a New York-based internet advisory and investment firm.

For further information and contact details, please visit www.flashstock.com and connect with us on Twitter, Facebook and LinkedIn.

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Please take time to review this video   http://www.youtube.com/v/AgYLr_LfhLo?version=3&hl=en_US&rel=0

Always remember and never forget – “Freedom is NOT Free”

Also, say “thank you” to a “Soldier and Veteran” today, for they SERVED

with Honor & Respect

Steve Gerbsman

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San Francisco, January, 2014
The Black Swan Pushes Events to the Tipping Point-Maximizing Enterprise Value in the upcoming Crisis
This article was published by Steven R. Gerbsman and Robert Tillman in May, 2007.

Please read, enjoy and “be prepared”.

Best regards,
Steve Gerbsman

We are currently in one of the best economic times in our country’s history. The stock market is at all time highs, unemployment is at all-time lows, interest rates are low, money is plentiful and deal valuations are high and getting higher. There are, of course, many worrisome trends: terrorism, excessive government spending, trade deficits, high oil prices, immigration and over the longer term, such issues as an aging population and (possibly) global warming. Although problems and worries always exist, in historical terms, times are very good indeed.

The big questions for us as specialists in maximizing enterprise value are:

Will it end?

Yes. Of course. Even fundamentally healthy economies experience frequent and often violent corrections. The current world economy has evolved in many ways over the past decade. All large businesses are international. The primary economies of the world are very tightly linked together. Money is far more liquid and moves around the world with far less “friction” than it did in the past. The pace of technical change continues to increase. Nevertheless, we do not believe that the laws of history, and especially, the laws of human nature, have been repealed.

As always, “The more things change, the more that they remain the same.”

When will it end?

Unfortunately, no one knows the answer to this question. In historical terms, the current economic expansion has continued for a very long time and has survived numerous shocks, including war, a doubling of energy prices, natural disasters and localized economic downturns, such as the bursting of the sub-prime mortgage bubble. It appears to be “ripe” for a downturn. On the other hand, inherently unstable situations often persist for far longer than anyone could believe possible. During the 2000 Internet bubble, it seemed to us for quite some that the old rules of business no longer applied and that 25 year-old CEOs knew something us old guys did not know. When the crash occurred, we were relieved to find out that we were not so obsolete after all.

We did, however, underestimate the staying power of technically insolvent companies with broken or non-existent business models. Many of these companies had significant cash on the balance sheet (offset, of course, by significant liabilities) and investors who continued to infuse more cash far beyond the point of reason. Today, there exist immense pools of uncommitted cash, much of it in the hands of entities, such as private equity funds and hedge funds that are subject to minim al regulatory scrutiny and whose operations are obscured from the public view. In addition, the weakness of the dollar against both the Euro and the Pound Sterling makes U.S. assets a relative bargain. These factors tend to mitigate against an economic downturn. For how much longer they will continue to do so we do not know (and if we did know, we would certainly would not tell).

How will it end?

Fast, hard and unexpectedly. Two recent books shed a great deal of light on the process:

The first book, The Tipping Point by Malcolm Gladwell describes how human behavior causes events to cascade rapidly once a certain critical mass (the “Tipping Point”) has been achieved. Examples in the business world include periodic economic “panics” and the spread of certain technologies and products, such as personal computers, iPods, cell phones, etc. It is very difficult to predict in advance when the “tipping point” in any situation will be reached, but history has shown that, once it has been reached, events proceed very quickly.

The second book, The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb describes how highly improbable, and hence unpredictable, events periodically create massive change. The title of the book derives from the observation that the existence of even a single black swan disproves the assertion that all swans are white. Historical examples include the Fall of France at the beginning of World War II, the rise of the Internet and 9/11.

There are many obvious candidates for a “black swan” event that pushes the world economy over “the tipping point” into a downturn – a war with Iran, a nuclear terrorist attack or a worldwide bird flu or small pox epidemic, but generally, it is what you do not see that gets you. We are fundamentally optimists about the long-term prospects of the world economy. In many highly measurable ways, the wor ld really is improving, driven by technological innovation, a lowering of barriers to trade and increasing economic integration. Nevertheless, we are old enough to have lived through many “bumps” along the road and know that such discontinuities will always occur. We believe that we will see a significant economic event sometime over the next 12-18 months, either localized to a particular sector or geographic region or globally.

Our Advice?

Before such an event occurs:

As a board member, investor or stakeholder:

1.  Implement tight cash flow, receivables and inventory reporting so that you are alerted to problems early.
2.  Focus on the control, preservation and forecasting of CASH on a weekly, monthly and quarterly basis.
3.  Require “bottoms up” forecasting for all aspects of revenue and expense. Have the CEO and CFO defend ALL numbers.
4.. Hold the CEO responsible and accountable for Performance. If you are off the business plan/forecast, re-forecast based on the reality of “what is” today.
5.  Communicate frequently with all parties at interest. Check that the CEO is providing leadership, motivation and morale to the management team and employees.
6.  Review all companies in your portfolio. Identify and define action plans to fix weaknesses now.
7.  Utilize professional resources to assist in maximizing enterprise value, when appropriate.
When such an event occurs:

Face up to reality and act quickly. When things are going bad, waiting seldom improves them. We have never seen a board of directors act too quickly when faced with a crisis. We have all too frequently seen a board act slowly or not at all.
Call for assistance early. The earlier professionals can get involv ed in the process, the better the potential outcome in maximizing enterprise value. Many times boards request assistance only after a company has run out of cash. Many more options exist to maximize enterprise value if a company has some running room.
About Gerbsman Partners

Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in under-performing, under-capitalized and under-valued companies and their Intellectual Property. Since 2001, Gerbsman Partners has been involved in maximizing value for 79 technology, medical device, life science, digital marketing/social commerce and solar companies and their Intellectual Property and has restructured/terminated over $810 million of real estate executory contracts and equipment lease/sub-debt obligations. Since inception, Gerbsman Partners has been involved in over $ 2.3 billion of financings, restructurings and M&A transactions.

Gerbsman Partners has offices and strategic alliances in San Francisco, New York, Boston, Orange County, VA/DC, Europe and Israel.

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GERBSMAN PARTNERS
Phone: Cell: +1 415 505 4991
Email: steve@gerbsmanpartners.com
Web: www.gerbsmanpartners.com
BLOG of Intellectual Capital: blog.gerbsmanpartners.com

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