Data Driven Innovation

Few ever live in the present, we are forever anticipating what has gone........Emmanuel Sodipo

Executives should take broader approach to finding the best markets for their business.

They need to combine available data and forecasts with a thorough qualitative analysis that looks at the live operation of their products and the operating environment of each market.

As the conventional products become increasingly smart and connected, relationships with customers are becoming ever more service-based and open ended.

Thus, digital leaders must effectively change the interaction model with customers from the infrequent and random encounters in the analog world to targeted digital business "moment exploitation"  For instance; A store customer meets a sales rep with no knowledge of prior purchases or the information collection process to an online customer who receives personal and updated offers or service that take online interactions, previous purchases and digital product usage into considerations

Companies today are on a journey of improved digitisation; this means advancing from simply overlaying digital functionality on existing offerings to learning the customer context via connected products and services and adapting them to meet customer needs.

As companies begins to transition from just collecting data on their products for future modification to "in context" data exchange. It is time to drive Innovation across different industry verticals.

Here are Great Examples:

Cars in the Cloud- Having access to data from cars on the road can begin to initiate repairs, software updates and self driving functionalities. check out Ford(Sync), GM(Onstar), Ford(OpenXC), Android(Auto), Apple(CarPlay) 

Digital Homes- Smart gadgets can begin to learn home dweller's living habits for optimum home convenience thermostat can adjust heating and air-conditioning, when it sense smoke in a room it can switch on the camera for insurance purposes and send a message to the fire service.
Check out Nest(Brillo), Apple(HomeKit) and Amazon(Echo)  

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Case Study: Selling Philosophy

Exceeding expectations—a phrase that resonates with ambition and drive. When we surpass the anticipated, when we stretch our limits, we dance on the edge of possibility. It’s in those moments that we redefine what’s achievable, reaching for the stars with outstretched arms.

The Container Store tries to astonish customers by exceeding their expectations.

Below is the Container Store’s selling philosophy.

“Imagine a man lost in the desert. He’s been wandering for weeks. He “stumbles across an oasis, where he’s offered a glass of water, because surely, he must be thirsty. But if you stop to think about what he’s experienced and what his needs really are, you know that he needs more than just water. He needs food, a comfortable place to sleep, a phone to call his wife and family, maybe a pair of shoes and a hat to screen the sun’s rays.

When a customer comes to the store looking for shoe storage, for example, we equate her to a “Man in a Desert, “ ” in desperate need of a complete solution (not just a drink of water). We start asking questions about what her needs are. “How many shoes do you have? “How many shoes do you have? “If shoes “are a big problem for you, how does the rest of the closet function?” By anticipating her needs, we know that she needs an organization plan – a complete solution - for her entire closet.

In the realm of business, it’s the startup that disrupts entire industries, the underdog that topples giants. It’s the leader who inspires not just compliance, but unwavering loyalty. It’s the product that not only solves a problem but becomes indispensable—a seamless fusion of form and function.

Most retailers are pleased with helping her find a shoe rack – that glass of water - but not with the Great Retailer. They don’t just stop with the obvious they provide a complete solution.

The Man in the Desert selling philosophy has been key to achieving one of the main goals of having customers happy in their organized closet, pantry, home office, etc., because they are so delighted and thrilled with the complete solution provided to them.”

But no matter how cleverly you articulate your values, vision, and mission, the absolute number-one thing you must do is repeat, repeat and repeat the message until every employee can voice, deliver and own the company’s values, vision, and mission.

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Strategic Persuasion

Together we can win.......................

Persuasion, the art of weaving words into a tapestry of influence, dances at the crossroads of reason and emotion. It beckons us to sway with its rhythm, to sway others toward our vision

When it comes persuasion and social media, today’s CEOs have made a remarkable transition over the past five years. A recent analysis by Weber Shandwick, found that 80% of the chief executive officers of the world’s 50 largest companies are engaged online and on social media. CEO sociability has doubled since they began tracking the social activities of chief executives in 2010, when only 36% of CEOs were social.

Persuasion—the compass that guides teams through tempests. A leader’s words ripple through the ranks, shaping culture, sparking innovation. It’s not just directives; it’s the art of igniting purpose, of kindling flames in weary hearts.

CEOs are considered “social” if he or she does at least one of the following: has a public and verifiable social network account on Facebook, Twitter, LinkedIn or Mixi; engages on the company website through messages, pictures, or video; appears in a video on the company YouTube or YouKu channel; or authors an external blog.

It is also important to be strategic about how and where you apply your persuasion techniques. You may need to create powermaps, which identifies who the relevant decision maker was on an issue, who they listened to for advice, and how close you are to those advisers.

The goal is to create an “echo chamber” effect, in which – even if you couldn’t reach the target directly – you could ensure that they would hear about your proposition favorably and from a variety of sources.

Power-mapping is a highly targeted form of influence that can enable you to bypass objections on any subject.

Finally Creating original content is the single most effective way to develop a strategic persuasive reputation. In just an hour or two a week/month, you can begin to demonstrate how you think about the issues facing your field and sharing your unique point of view. Your content creation sparks a virtuous circle: because independent reporters are likely to reinforcing your expert reputation with third-party validation.

Persuasion is the architect’s blueprint, the blueprint that transforms a hesitant customer into an enthusiastic advocate. It’s the marketer’s brushstroke, the stroke that paints desire across billboards and screens. It’s the CEO’s symphony, the symphony that harmonizes stakeholders’ interests into a crescendo of success.

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Artificial Intelligence in Business

I will go anywhere as long as it is forward. – David Livingston

The mining of digitized information has become more effective and powerful as more info is "tagged" and as analytics engines have gotten smarter and capable of learning, we can now analyze "unstructured" data, such as text and video, to pick up information on cusumer sentiment. For example, companies can now use analytics to decide which sales representatives should get which leads, what time of day to contact a customer, and whether they should e-mail them, text them, or call them.

Global Financial Services Leader at The Watson Group have 45 innovative companies /clients working mostly on three applications:

(1) digital virtual agent; that enables banks and insurance companies to engage their customers in a new, personalized way,

(2) wealth advisor; that enables financial planning and wealth management, either for self-service or in combination with a financial advisor

(3) risk and compliance management.

The Enhanced Virtual Assistant, or Eva, enables you do 200 transactions by just talking, including transferring money and paying bills.

Adding more intelligence into business processes and applications

What does it all mean for the future of Artificial Intelligence?

As AI permeates our lives, ethical considerations loom large. We grapple with questions of bias, transparency, and accountability.

Human-AI Collaboration- Imagine a symphony where humans and algorithms plan a family holiday together.

AI Ethics- We navigate the moral compass, ensuring AI serves humanity without veering into treacherous waters.

The future of AI isn’t etched in stone; it’s painted on the canvas of imagination. It’s the algorithm that dreams, the neural network that yearns for discovery. So, let us step boldly into the unknown, our binary hearts beating in sync with the pulse of progress. For the future of AI is not merely code—it’s the poetry of possibility, waiting to be written.

Facts behind Successful Business

"Get your facts first, then you can distort them as you please." - Mark Twain

Data is a strategy – and we need to start thinking about it as one. It should adhere to the same competitive standards as other business strategies. Data monopolists’ like Google ability to block competitors from entering the market is not markedly different from that of the oil monopolist Standard Oil or the technollogist monopolist Intel.

Bezos periodically leaves one seat open at a conference table and informs all attendees that they should consider that seat occupied by their customer, 'the most important person in the room.'" In his efforts to build such a customer-centric company, you might not be surprised to find that Bezos expects all employees to be able to interact with customers.

Your bio as a marketing tool for your business and for your career. If you speak, link to your booking page. If you offer an online course, link to that too. It would be a waste to have someone read your bio and not become a potential customer. Not more than two calls to action on your bio or it would be a hard sell. You also want to save the calls for the most important clicks.

Change the structure of the meeting from individuals reporting their own performance and successes to collaborative problem solving, where the leader or a member of the team brings a topic for group discussion. The importance of this exercise is that team members begin to see their peers as a rich source of advice — one that they might not have gone to before. This type of collaborative problem solving usually yields better decisions

What can a network do for you? It can keep you informed. Teach you new things. Make you more innovative. Give you a sounding board to flesh out your ideas. When it comes to stepping up to leadership, your network is a tool for identifying new strategic opportunities and attracting the best people to them. It protects you from being clueless about the political dynamics and offers you the best way to change your environment. Your network is also what puts you on the radar screen of people who control your next assignment. In a nutshell your network is your Net Worth.

• Your exit strategy; while Coke stock price has only appreciated 2% annually since 1998, Buffett could care less. He continues to "hold" on to his 400 million shares of Coke for one reason...It generates $122 million dollars in dividend income for his firm each quarter. This was his "exit strategy" for this investment all along: Perpetual dividend income. His cost basis for those shares (bought between 1988 – 1994) is $1.29 billion dollars. which means he currently earns a 37.5% cash flow return on this investment, year after year.

With these FACTs I hope to see YOU at the TOP

Business Transformation

My challenge for 2015 is to read a new book every other week with an emphasis on cultures, beliefs, histories and technologies----Mark Zuckerberg

The truth is that just being a member of an organization is a political act. And we must influence people at work all the time. In healthy organizations, we "get" power, or we are granted power, by virtue of our ability to inspire and provide vision.

That brings us to "change" versus "transformation."

Many executives don’t realize that the two are not the same;
"Change management" means implementing finite initiatives, which may or may not cut across the organization. The focus is on executing a well-defined shift in the way things work.

Transformation unlike change management focuses on a portfolio of initiatives, which are interdependent or intersecting. More importantly, the overall goal of transformation is not just to execute a defined change — but to reinvent the organization and discover a new or revised business model based on a vision for the future.

Transformation is much more unpredictable, iterative, and experimental. It entails much higher risk. And even if successful change management leads to the execution of certain initiatives within the transformation portfolio, the overall transformation could still fail.

Steve Jobs was successful with the transformation of Apple to be the most valuable company while Tim Cook has been a great custodian of change management (just look at the unprecedented figures last quarter of 2014 - 18billions dollars)

That brings us to "C-level" versus "Executive"

When looking to hire a new CEO, corporate boards of directors are increasingly bypassing C-level and appointing less seasoned leaders.
Boards are seeking Executives who understand signals in today’s unpredictable environment. All too often, C-levels are overly focused on internal issues and opt to invest in familiar opportunities rather than taking bold risks.

Executives who embrace disruptive technologies and digital media;

Proven record of innovation

Confident global citizens,

Ability to operate in developed, emerging, and frontier markets and lead across diverse cultures

An acute understanding of shifting demographics in their customer base

Adaptive leadership traits, such as exceptional curiosity, open-mindedness, and the courage to act.
The board also continues to ensure the success of the executive by establishing a clear transition process for the assuming CEO role. A fast-track CEO succession should be the product of a deliberate strategy and not of desperation.

But quite frankly anyone who understands the dynamics of unfamiliar regulatory pressures, industry consolidation, complex emerging technologies, or changing consumer behavior deserves a shot at the title

Boards should still look for chiefs with the traditional attributes of intelligence, integrity, and stamina—traits that have defined great executives for decades.

The Grooming of a Business Leader

"Focusing your life solely on making a buck shows a certain poverty of ambition. It asks too little of yourself. Because it’s only when you hitch your wagon to something larger than yourself that you realize your true potential." --------- Barack Obama

"One is too small to achieve greatness, as the challenge escalates there is need for Team work--- John Maxwell.

Leadership carries a lot of responsibily not just for me but also for my staff, our employees livelihoods are dependent my decisions and any bad strategy on my part can affect a lot of lives.
In my company there are four key results areas as a leader:
Planning, staffing, delegating and measuring

Planning- Our company can grow in either of these three ways; increasing no of customers,
increasing the value of each product or increasing the number of repeat business.
By planning I grow the business each year by increasing the number of customers 20%, increasing our backend by 20% and adding 20% value to our existing products.

With proper planning I organise my thinking, identify my weakness, save on time and focus my strenghts and budget on the three core objectives.
  
Staffing- when recruiting I seek employees that suit the business style which makes management a lot easier. I often seek creative people, because creative people rarely need to be motivated; they have an inner drive that refuses to be stopped, they refuse to be complacent, they take risk which is what the business needs to be competent and successful.

Delegating- Pareto principle states the 80-20 rule. 20 % of what I do account for 80% of the result I get. I delegate anything that I find boring or where my performance score is less than the
best in any area of the business, often times what I find boring is a pleasure to others and over
time become more proficient at performing those task.

Measuring- I believe assumption is a sign of laziness, I measure everything, from marketing results,
to staff performance, to customers satisfaction and even to the most profitable products.

Quantifying these results is the only way I can optimize assets and improve performance.

Excerpt from my forthcoming book " The Leaders Mask"

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Have a Productive Holiday

Wishing You Continued Success 

Talent plays a crucial role in determining an individual’s success. When we consider why some people achieve more than others, two main factors come into play: talent and effort.

Talent encompasses a person’s abilities, skills, and expertise—the inherent qualities that define what they can do. It’s the raw material that forms the foundation for success1. While Effort refers to how much a person deploys their talents. It’s the dedication, hard work, and persistence they invest in honing their abilities and achieving their goals1.

The 10 talents of successful entrepreneurs are:

• Business Focus: You make decisions based on observed or anticipated effect on profit.
• Confidence: You accurately know yourself and understand others.
• Creative Thinker: You exhibit creativity in taking an existing idea or product and turning it into something better.
• Delegator: You recognize that you cannot do everything and are willing to contemplate a shift in style and control.
• Determination: You persevere through difficult, even seemingly insurmountable, obstacles.
• Independent: You are prepared to do whatever needs to be done to build a successful venture.
• Knowledge-Seeker: You constantly search for information that is relevant to growing your business.
• Promoter: You are the best spokesperson for the business.
• Relationship-Builder: You have high social awareness and an ability to build relationships that are beneficial for the firm's survival and growth.
• Risk-Taker: You instinctively know how to manage high-risk situations

In organizations, talent management is critical for overall performance. Effective talent management correlates with better organizational outcomes and can even provide a competitive advantage. By prioritizing talent, companies can align their workforce with their mission, vision, and goals, ultimately driving Success. 

Whether it’s in personal endeavors or professional pursuits, nurturing both talent and effort is key to unlocking success.

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Impotence from Knowledge

"I never learned anything while I was talking." --Larry King

Data insights refer to the deep understanding gained from analyzing information on a specific issue. These insights go beyond surface-level observations and help organizations make better decisions based on evidence rather than relying solely on intuition.

Raw data is collected directly from the source and typically requires transformation (data integration) to become business-ready information. The goal of analytics is to answer specific questions, discover new insights, and make data-driven decisions. Insights occur when an analyst or business user discovers a pattern or relationship in data that was previously unknown.

Practically every retail Big Data and analytics case study over the past decade explicitly referenced Tesco as "best practice." With the notable exception of Amazon, no global chain was thought to have demonstrably keener data-driven insight into customer loyalty and behavior.

Tesco was transformed into the market leader in the UK—with more than 30pc market share—by being able to respond to the demands of its customers.

Tesco’s decline presents a clear and unambiguous warning that analytics capabilities cannot ward off the competitive advantage of lower prices and a simpler shopping experience.

Data insights empower organizations to make informed decisions by going beyond raw data and traditional analytics.

There’s nothing new or unusual in a one-time business strength turning into an organizational weakness or an industrial irrelevance. But Big Data, predictive analytics, and customer insight aren’t a substitute for business competitiveness.

Sometimes we all have to go back to the fundamentals...........

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Sales Beyond Meetings

Business is a performance art and not just about good ideas, the biggest impact is aligning actual selling behaviors with the required sales tasks. Value is created or destroyed in the marketplace with customers and not in meetings.

Many companies do not have a sales strategy. They confuse their vision or mission statement with a strategy. Strategy involves explicit choices about where, who and how to play in a market, and this must be explicit because it is difficult for your team to execute a strategy that they do not understand.

Here is a sale strategy.

To sell high-quality cell phones at low price, Xiaomi keeps each model on the market far longer than other phone companies. On average, a new version of a phone is launched every 265 days in the industry. But Xiaomi does not renew its product for 830days. Then, rather than charge high prices to cover the high cost of components, Xiaomi prices the phone just a little higher than the total cost of all its components.

As component costs drop over the two-year period by more than 90%, Xiaomi maintains its original price, and pockets the difference.

Essentially its profit formula is opposite to most companies, who collects their highest profits with the introduction of each model and needs to come up with new model every few months to keep those margins up.

Employees share the relentless pursuit of perfection, constantly refining products to create exceptional user experiences. Xiaomi fosters a flat, open, and innovative work environment. Employees participate in friendly competitions and events. 

The “MI” in Xiaomi’s logo stands for “Mobile Internet.” It reflects the company’s core focus on creating innovative technology accessible to everyone.

Xiaomi Corporation, founded in April 2010, has rapidly become a global technology powerhouse.

It faced seemingly impossible challenges in its early days, but it persevered and continuously pursued high-quality user experiences and operational efficiency.

With a healthy profit and market share, Xiaomi is a success story.

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Espoinage on Business Trips

He who has never learned to obey cannot be a good commander. —Aristotle

While traveling for business, a professional carry a set of goals to expand to new markets, close out promising sales, or open up new opportunity with foreign partners. To obtain the data needed to support such efforts, a business professional typically travels with a device that includes contacts, presentations, and data sheets. While such information is valuable to the business professional and his or her organization, it is much more valuable to a competing organization, or authoritarian government, that would like to close the gap on research and development.

Case Studies:

Consider the customer of a security products company on a trip Abroad. The traveler brought with him his Android smartphone and, as a precaution, noted the version of the operating system that the device was running before leaving. When he woke up in his accommodations on site, he noticed that the version of the operating system had been changed due to an unauthorized update that had been pushed over the air. Such an unauthorized update could allow the device to be used as a microphone, listening in on conversations in any room the device was located. Such a compromised device could also siphon off data including emails, texts, and stored files.

An executive at a security technology company cleared the data on his phone before heading overseas and used the clean phone for voice calls only. Upon returning home, the device would not boot properly and needed the firmware loaded from scratch. Forensics were performed on the device to determine the root cause- which could only come from an unlikely, invisible update from the device manufacturer- or an attack against the device aimed at compromising it.

Many different types of devices can be the target of such attacks. Think of all the different devices you might take with you when you travel, whether for business or vacation:

·         Laptop

·         Smartphone

·         Tablet

·         Digital camera

·         Camcorder

·         Audio player

·         Flash drives

·         Memory cards

Each of the above devices contains some form of data or code that runs on the device. If the device has WiFi, mobile access, or active Bluetooth, there is a possibility of it being compromised through one of those wireless interfaces. If a device is left behind in a hotel room or other unsecured location, it could be tampered with, duplicated, or stolen.

There are several methods to secure, minimize, or even hide data. These methods include using encryption, making backups, traveling with reduced information- or “clean device” that has no data.

Other solutions include data that is only sent or made available remotely once the traveler has arrived and then revoked when returning. While these methods are geared toward border crossings that may subject the travel to additional scrutiny, they work equally well against espionage performed by competitors or authoritarian governments.

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Habits of Business Tycoons

Only those who dare to fail greatly can ever achieve greatly. –-Robert F. Kennedy

Any idea what they ALL have in common?

Barry Diller - owner of Ask.com

David Geffen - co-founder of DreamWorks

Henry Ford - founder of Ford Motor Company

John D. Rockefeller Sr., - founder of Standard Oil

Kirk Kerkorian - owner of MGM movie studio

Larry Ellison - co-founder of Oracle software company.

Richard Branson, founder of Virgin

Steve Wozniak - co-founder of Apple

Successful tycoons, or business magnates, often share certain habits and traits 

that have contributed to their achievements. While individual approaches may vary, 

here are some common habits of tycoons:

Visionary Thinking: Tycoons tend to have a clear vision of what they want to achieve 

and where they want their businesses to go. They set ambitious long-term goals and 

work consistently toward them.

Resilience: They are resilient in the face of challenges and setbacks. Tycoons 

understand that failures are part of the entrepreneurial journey and use them as 

learning opportunities.

Continuous Learning: Successful tycoons are avid learners. They stay informed about 

industry trends, emerging technologies, and market dynamics. They read extensively 

and often seek out mentors and advisors.

Answer the following questions, use the knowledge and you will be the next Business Tycoon

It's important to note that not all tycoons exhibit these habits in the same way, and there 

are exceptions. Success is influenced by a combination of factors, including individual 

personality, circumstances, and opportunities. However, adopting some of these habits and 

principles can be valuable for anyone looking to achieve success in business and beyond.

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The Intel Trinity

The Intel Trinity must be considered one of the most successful teams in business history, yet it seems to violate all the laws of successful teams.

Intel Corporation, headquartered in Santa Clara, California, is a global technology company and one of the world’s largest semiconductor chip manufacturers. 

The founders of Intel were just such a diverse, volatile team, composed of three of the greatest business and scientific talents of the century.

It was a machine that just moved forward, slowly grinding away to gain market share and ever-greater dominance over the semiconductor industry, the electronics industry, the U.S. economy, and eventually the global economy. Intel microprocessor business enjoyed the highest market value of any manufacturing company in the world, and Andy Grove was declared Time’s "Man of the Year".

In the late 1970s, Intel Corp along with a very young Apple Computer were one of the hottest companies on the planet. Not very liked, Intel then: too arrogant, too confidant of its engineering prowess and both humorless and relentless. The place was a pressure cooker, accompanied with stress and occasional heart attacks at the required Sunday morning meetings.

The three founders:

Gordon Moore, soft-spoken, affable but distant, the most empirical human being imaginable — and, thanks to his " Moore’s Law ", a man who likely would be remembered for centuries after Silicon Valley is gone.

Robert Noyce, warm and engaging, the most charismatic figure in Valley history (including Steve Jobs) — a man with one of history’s greatest inventions (the integrated circuit) on his resume and one of the greatest entrepreneurs of his time.

Andy Grove, fiery and relentless, a small man with a gigantic personality, who could never endure losing, and who may have been the greatest CEO of the second half of the twentieth century.

They filled in each other’s blanks. Noyce, for example, wanted to be loved and couldn’t bear to fire even the worst employee. Grove by comparison did it with relish. Grove the made sure Intel operated at peak performance, but it was Noyce the risk-taker who propelled it forward. Moore kept the company grounded to the harsh reality of the numbers.

Intel, probably made more mistakes than any company in tech history and that is because it took more risks than any other company. It’s also because – the source of its success – Intel is better than any company in high-tech history at learning from its mistakes; at picking itself up, dusting itself off, and diving back into the fight.

Core Business Areas:

Semiconductors- Intel supplies microprocessors, chipsets, and other related computing units to computer system manufacturers worldwide.

Computer Hardware- Intel develops central processing units (CPUs), integrated graphics processing units (iGPUs), and other hardware components.

Autonomous Cars- Intel is involved in developing technologies for autonomous vehicles.

Artificial Intelligence- The company contributes to AI advancements through its products and research.

Networking and Communications- Intel manufactures network interface controllers, modems, and other communication-related devices.

Solid-State Drives- Intel produces storage solutions like solid-state drives (SSDs).

Flash Memory- The company is a player in the flash memory market.

Graphics Processing Units (GPUs)- Intel’s Arc series of GPUs competes in the high-performance PC and gaming market.

Esports Sponsorship- Intel sponsors the Intel Extreme Masters, a series of international esports tournaments.

Intel’s impact extends beyond hardware, it hosts open-source projects, supports technology advancements, and continues to shape the tech industry

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The Lottery of Greed

Face famous, money rich, inspiring powerful entrepreneur is a selfish flatter coated in greed......Emmanuel Sodipo

The grandest goal seems to acquire and to own as much as you can and sit on it;

• To own Patents that turn ideas into property, even though the idea has been around for a long time in a different form.
• To own Real estate location that converts fresh air into property.
• To own copyright to many books, when the books are really store houses of borrowed ideas.

These Properties are, acquired, hoarded and seldom shared but often displayed in a museum for the greedy to attest to their power of purchase.

If you play the lottery then you must win .........but the odds are against you, only 2% chance of winning.

What is new?

Partnerships by large and successful companies/entrepreneur with start-ups for joint incubation of innovative business ideas.

Despite all their resources in patents and real estate, large companies realize they cannot tackle the challenges of the eco system alone.

They need to tap into young, entrepreneurial companies filled with restless minds, and passionate innovators.

These start-ups in return benefit from their resources, customer relationships, expertise, and scale of the established companies.

GE has created GE Ventures, a group in Silicon Valley that spends their time not just investing ($150 million annually), but also forming technical and commercial collaborations with startups in energy, health, software, and advanced manufacturing.


Win/Win............No losers

We Love to Hate Big Business

"It is possible to start a business in almost any industry without capital. It would be really useful to have £500, but not essential. A phone and a brain are pretty much the only pre-requisites."– Jeremy Harbour

Love or Hate Big; we are desperate for Entrepreneur's.

The customer comes first. Having a pile of orders to fulfill is a lovely problem to have. 61 percent of small business owners surveyed reported that more than half of their annual revenue came from repeat customers rather than new customers, and that a repeat customer spends 67 percent more than a new customer.

Go get some clients first, then start your business.

Whatever the reason, older and larger businesses are doing better relative to younger and smaller ones and for most venture-backed companies, the ultimate exit plan is for sale of the firm to an existing behemoth, not continued independent operations.

In pharmaceuticals, the largest company, Pfizer, is the result of decades of mergers. The current corporate entity is comprised of firms that used to be called: King Pharmaceuticals, Wyeth, American Cyanamid, Lederle, Pharmacia, Upjohn, Searle, SUGEN, Warner-Lambert, Parke-Davis and others.

More than half of Britain’s online retail spend goes to Amazon, working out at £70 for every man, woman, and child in the country.

Why does Amazon succeed:

Higher Customer Lifetime Value (CLTV)- Repeat customers tend to have a higher CLTV compared to new customers. With each purchase, a loyal customer spends more money. Trust plays a significant role here—the more trust a customer has in your brand, the less hesitation they have to buy from you. Promoting new products to repeat buyers requires less effort than convincing new customers.

Increased Spending- Not only do repeat customers buy your products more frequently, but they also have a higher average order value. The number of previous purchases and the duration of their engagement with your services directly impact how much a repeat customer spends.

Word-of-Mouth Advertising: Positive referrals happen more naturally when customers have experienced excellent service. For instance, after 10 purchases, shoppers refer as many as 50% more people than one-time buyers.

Customer retention is more cost-effective than customer acquisition. Investing in retention strategies—such as improving customer service or implementing loyalty programs—can help you win and retain loyal customers. So, nurture those repeat relationships—they are the backbone of sustainable growth and big business.

It really does not matter anymore if you are a large or small business, as long as you can develop an eco-system of competitive pricing and happy customers you are game for massive success.

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Be the CEO

As sure as taxes, the CEO pays less.........

"Just taught my kids about taxes by eating 38% of their ice cream." - Conan O'Brien

If the Top Players pay less, the question is how do we get to the top and fast?

 "FastWorks."

• It’s a framework for entrepreneurs, building on "The Lean Startup" by Eric Ries. The Lean Startup is an approach to developing new products that came out of "Agile" software development, with "sprints" (quick deliverables) and fast learning.

Agile methodology is a project management framework that breaks projects down into several dynamic phases, commonly known as sprints. 

What Is Agile Methodology?

• Agile methodology is an iterative approach to project management.
• After every sprint (a short development cycle), teams reflect and look back to identify areas for improvement.
• Agile allows for continuous improvement by adjusting strategies based on feedback.

It’s not limited to software project management—teams across various domains have found success with this dynamic methodology. some common frameworks are, Scrum, Kanban, Extreme Programming (XP), Scaled Agile Framework (SAFe).

By aligning more with customers, you will reduce the risk of building something you can’t sell.

Here is a good Tip; Apply "fastworks" to the following scenario:

Graphene: The strongest material on earth

• A Korean research lab have made the leap from theoretical to practical with the development of a new way to synthesize graphene on a commercial scale.

• The perfect atomic lattice with attractive properties, meaning it has the potential to be used in several industries for a huge range of purposes.

• Super-strong, 20 times stronger than diamond, 200 stronger than steel and six times lighter

• Remarkably conductive, both electrically and thermally, perfectly transparent and impermeable to gas with alterable properties

The methodology promotes flexibility, customer collaboration, and iterative progress. Choose the right framework based on your team’s needs.

See You at the Top.......

The Winning Spirit

"Look up, laugh loud, talk big, keep the color in your cheek and the fire in your eye, adorn your person, maintain your health, your beauty and your animal spirits." — William Hazlitt

Winners keep winning for several reasons the "Matthew effect" as described by the sociologist Robert K. Merton;

They may just be better on quality.
Those with a reputation for past success tend to get disproportionate credit for future wins.
Winners from the past tend to be in the right place to make things happen in the future.
They have the connections and resources to make good on those opportunities.
Success more often hinges on activating and coordinating dynamic ecosystems. Demonstrating a clear strategic direction attracts these partners, enabling powerful alliances to be built. A policy of transparency also fosters trust with not only collaborators, but customers, investors, and other stakeholders, who value open communication and transparent business practices. And thanks to advances in technology, it’s easier than ever before to share mutually beneficial information securely and in real time.

Some people tend to be unrealistically optimistic, a view that sometimes makes itself come true in business leadership:

1. The economy is recovering, and the future looks brighter for start-ups than the past.

2. If price, quality & service are similar, social impact will decide customer loyalty

3. Collaboration, not competition is the key to lasting success.

For instance, do you use social media to acquire customers? Then that’s reducing cost of customer acquisition. Or do you use them to increase your lifetime value? That’s repeat business. Or do you use it to interface with them to find out their needs, wants and opportunities? That's increase profitability with backend products.

Remember, optimizing opportunities involves a combination of skills, mindset, and proactive actions. Keep learning, adapting, and seizing chances for growth.

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The Era of Start-Ups

A billion dollars in revenue for 30 startups around USA, China and UK is not shabby by any standard while a 19-billion-dollar acquisition of WhatsApp by Facebook signifies a commanding era for startups.

Apple took five years to become largest music retailer, Google in 18months became the dominant search engine while Alibaba in 7 months became the largest in money market lending out 16billion dollars.

Alliances, joint ventures and acquisitions are effective strategies across all industries, but the secret is to develop solutions that enhances the social and commercial lives of customers.

The slowest way to get funding is to go try to play a game where you are trying to convince VCs you have what they want. Just go out and build a great business and they will find you. There is a great way to get funding. It’s called build a product that customers want and get them to pay you for it. And then guess what? You have some money. Once you get that money, you the validation to raise more funds from other people.

For instance, a quarter of traditional banking revenue comes from payment transactions, but this has been highly contested but gives PayPal business validation, PayPal is dominant with online payment, it is no surprise that Tmobile, Google and Walmart got the validation to encroach into that space by introducing plastic debit card to their customers.

The banking sector much like other industries needs disruptive technology around the social and commercial lives of their customer base.

The startup mindset should not be limited to just entrepreneurs but to project it in government, in academic institutions, in large and medium-sized organizations, in faith-based organizations or nonprofits and even in their personal lives.

Overall Prioritize self-care and avoid burnout. A balanced life enhances productivity and overall well-being. Acknowledge achievements, no matter how small. Celebrating milestones boosts motivation and morale.

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Conception of the Mind

Thoughts are nothing more than signals of energy.

Your thoughts extend beyond your physical body, they affect everything you do and the results you get.

Warren Buffett was for a time the richest man in America, not by working hard, but by investing smart. Starting with very little capital, he compounded his investment over many years at yearly rates far above stock market averages. He achieved this with a limited degree of analysis but consistently applying a few insightful thoughts.


William Levitt, was the master builder of Levittown, In the 1950s, he was the king. No detail was too small for his attention. He would personally pick stray nails and extra chips of wood from construction sites to make sure his construction team maximised all available resources. He sold his company in 1956 to ITT for $100 million, which is equivalent to a few billions today.

Then he was distracted.
He retired.
He married the wrong woman.
He moved to the south of France and lived on his new boat with his new wife.

William Levitt, went back into business. And he proceeded to go bankrupt. He was out of the business for twenty years, he came back, and he was not the same.

No matter how accomplished you are as a leader,
No matter how successful you are in business,

You have to remain vigilant about the details of your industry. You can not be competent based on experience alone. To stay ahead of the game you need to be retrained regularly, to apply the current technology and the latest research procedures.

Your Thoughts is something you have to work at to maintain your lead.

"The only thing that separates any one of us from excellence is fear, and the opposite of fear is faith.  I am careful not to confuse excellence with perfection. Excellence I can reach for, perfection is God´s business." -- Michael J. Fox

Excerpts from book Believe the Dream

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2014 Business Opportunities

Learn Investment and Business Skills, within the next decade 50% of all current jobs will be lost to the Cloud and Automation.

Historically, companies sought “first-mover advantage” for the benefits it offered such as building a technological lead, establishing early brand recognition and loyalty, securing control of resources and channels, and raising switching costs or entry barriers. But the dynamics is shifting. Thanks to more accessible customer adoption data, diminishing brand loyalty, lower switching costs, and shortening product launch times, being first creates less significant advantages. Instead, letting others test the market and technology, and being ready to leap ahead of them with a better approach.

Here are the Top Opportunities for 2014:

• 3D Printing
• 3D Virtual Reality
• Croud Funding
• Digital Currencies
• Tech Companies with Real Solutions
• Software as a Service
• Gold

Prioritize tasks, set deadlines, and use tools like to-do lists or scheduling apps. Evaluate how you spend your time and adjust your schedule to align with your goals.

Ways to Optimize these Opportunities.

Mindfulness and Meditation:

Practice mindfulness and meditation to calm the mind, reduce distractions, 

and allow creative ideas to emerge naturally.

Collaborate and Brainstorm:

Engage in brainstorming sessions with others. Collaboration can lead to a synergy 

of ideas and fresh perspectives.

Take Breaks:

Give your mind periodic breaks to rest and recharge. Sometimes, stepping away 

from a problem or project can lead to breakthrough insights when you return.

Explore Different Perspectives:

Try to see problems or situations from multiple angles and viewpoints. This can 

help you come up with creative solutions that consider various factors.

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Online Training

Online courses, also known as e-learning or distance learning, have become increasingly popular for acquiring new knowledge and skills. They offer flexibility, accessibility, and a wide range of topics to choose from. 

Here is a guide that outlines the process of creating an online course:

• Decide on the course topic.
• Create a course storyboard.
• Write the script.
• Make the course using an authoring tool (with customizable templates).
• Add assessments.
• Publish and share the course.
• Collect feedback at every stage.

Here's a guide to help you make the most of online courses:

1. Identify Your Goals:

Determine why you want to take an online course. Are you looking to acquire a new skill, earn a certification, advance in your career, or simply pursue a personal interest?  Having clear goals will help you choose the right courses.

2. Choose a Reputable Platform:

There are numerous online course platforms available, each offering a variety of courses. Some well-known platforms include Coursera, edX, Udemy, LinkedIn Learning, Khan Academy, and many universities and colleges also offer online courses. Research and choose a platform that aligns with your goals and offers high-quality content.

3. Select the Right Course:

Browse the course catalog and select courses that match your interests and goals. Pay attention to course descriptions, prerequisites, and reviews from other learners.

4. Consider Course Format:

Online courses come in various formats, including video lectures, text-based modules, quizzes, assignments, and discussion forums. Choose a format that suits your learning style and preferences.

Online courses can be a valuable resource for personal and professional development. By approaching them with dedication, organization, and an active learning mindset, you can make the most of your online learning journey and achieve your goals.

The list of courses is here: ocw.mit.edu/courses/index.htm.
Something everyone should know and use.

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The Creative Obtacle

Creativity is the ability to generate novel and valuable ideas, solutions, or expressions. It's a fundamental human trait that can be cultivated and harnessed in various aspects of life, from artistic endeavors to problem-solving in business and everyday situations. 

Here are some tips for enhancing and nurturing creativity:

1. Embrace Curiosity:

Cultivate a curious mindset. Ask questions, seek new information, and explore unfamiliar topics or experiences. Curiosity is the foundation of creativity.

2. Divergent Thinking:

Practice divergent thinking, which involves generating multiple ideas or solutions, even if they initially seem unrelated or unconventional.

3. Create a Creative Environment:

Surround yourself with inspiration. Arrange your workspace or living area in a way that encourages creativity, whether it's through colors, artwork, or natural elements.

4 Keep a Journal:

Maintain a journal or notebook to jot down ideas, thoughts, sketches, or observations. Reviewing past entries can spark new creative insights.

Remember that creativity is a skill that can be developed and refined over time. It's not limited to artists or innovators but can be harnessed by anyone willing to explore and nurture their creative potential. Stay patient and persistent in your creative pursuits, and you'll continue to grow as a creative thinker.

• Accept the things you can't and change the things you can.
• Surround yourself with creative minds.
• Always move forward strategically
• Never miss anything.

While nonconformity is associated with creativity, many creative individuals lead ordinary lives, expressing their autonomy mainly through their ideas and work.

In summary, creativity involves turning new and imaginative ideas into reality. It’s characterized by perceiving the world differently, finding hidden patterns, making connections, and generating solutions. So, embrace your unique perspective and let your creativity flourish.

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Christmas Shopping

So, December’s here. How’s your Christmas shopping going?

Zibbet has over 6,000 shops selling exclusively hand-made items and offering various membership options ranging from the free basic package to the $79-a-year premium package (all on a no-contract basis). For that you get your own personal domain, unlimited storage and bandwidth, training materials, Zibbet’s customer service and support, secure Verisign and PayPal checkouts, and access to the Zibbet community hub.

Handmadeology exists for the purpose of teaching artists how to successfully sell their handmade and digital goods online, and to feature the newest handmade, vintage, digital and supply items found around the web.

Their marketplace is a blog/resource for sellers that see over 5,000 readers every day. With 20,000+ fans on Facebook and over 100,000 followers on Twitter, Handmadeology has the reach to help sellers get the exposure they need.’

Have Fun shopping and learn some new words:
The Oxford English Dictionary has named their word of the year. It is "selfie". They released a
list of new words that had been added this year. Some of the recently recognized words
are:

Rizz (noun, slang)- Romantic appeal or charm.

Zhuzh (noun/verb)- A small improvement, adjustment, or addition that enhances the overall look, taste, etc. of something.

Doggo (noun, slang)- Referring to a dog.

Padawan (noun, informal)- A young person, especially when regarded as naïve or inexperienced.

Simp (verb, informal)- To show excessive devotion to or longing for someone or something.

Goated (adjective, slang)- Considered to be the greatest of all time.

Bussin (adjective, African American English slang)- Extremely good or excellent, especially when describing something delicious or tasty.

Cromulent (adjective, informal + humorous)- Acceptable or satisfactory.

Mid (adjective, informal)- Neither very good nor very bad; so-so.

bitcoin, buzzworthy, chandelier earring, digital detox, click and collect, double denim,
food baby, geek chic, grats, internet of things, phablet, space tourism, street food, twerk,
and unlike.

Merry Xmas and Have a Perfect Holiday 

The Invisible Government

When the president signs this act [Federal Reserve Act of 1913] the invisible government by the Monetary Power will be legalized" — Charles A Lindbergh Sr. U.S Senator, Minnesota

Charles statement still holds a lot of truth even after a century; cashflow is still king for many companies and government. The MBA Oath, now invoked at graduation includes a provision about being a good steward of entrusted resources.

However, great leadership and good management should be about the visible government and it is a series of well thought-through actions including phases, communications, checkpoints, customer-impact-testing, metrics, contingencies, and feedback loops, designed to produce specified results on time and on budget, based on known circumstances. Where circumstances are unknown, as with innovations, then good management proceeds with a flat organizational structures that encourages series of pilot tests, rehearsals and rapid prototypes.

The visible government is practical as well as visionary and cares about efficiency. The leaders might not be the ones to roll up their sleeves for the tasks of execution, but they know what to ask of those who do and they grow with experience.

China seems to have borrowed a lot from this concepts and it should not be hard to see why. When a country’s governance is structured in such a way that incentives for the political elite are aligned with the economic interests of the country, the country is likely to grow rapidly and in a healthy way, and with minimal political disruption. When they are misaligned, however, there are likely to be significant strains and pressures that resolve themselves through political conflict.

China makes massive change possible; from one child policy to the state owned enterprises while the government is willing to partner and learn from other governments and businesses.

We can also learn a great deal from China while we maintain an exposing pressure on the negetive aspect of corruption, human rights and intellectual property violation.

For instance; When you introduce yourself in the West, you say "Hi, my name is Mike Stuart, CEO of Nike, from Boston, United States." In China, you would say "Hi, I’m from China, Shanghai. I’m Nike’s CEO, Mike Stuart." That speaks volumes on the importance of the collective versus the individual.

Here is a big dream worthy of our attention, from China's, Alibaba, CEO

The company [Alibaba] will remain a ‘start-up’ no matter how long it has been in existence. Whatever has been stable, I will disrupt that stability. The company needs to continue to innovate and grow. I want the employees to believe that we are a small company, no matter how big we get. I believe we can create a system and culture to perpetuate this culture of entrepreneurial and start-up spirit.

Follow your Dream

 

If you advance confidently in the direction of your dreams, you will meet with uncommon success in common hours..............Emmanuel Sodipo

Dreams and visions are fascinating phenomena that provide us with unique insights into the workings of our mindset. While they both involve the generation of images and information within our consciousness, they are adopted differently.

The great minds do something special. The great minds combine, in an artful way, logic with intuition. Great insights are made by people who combine deduction with feel, structure with improvisation and sciences with the arts..............

I think the Japanese term “ikigai” sums it up best. Ikigai is the intersection of what you love, what you are good at, what the world needs, and what you can be paid for. The reality is that most people don’t have a job that hits those four things. Many people don’t even get two. I had some great experiences with this. I consistently dabbled in something creative, but my heart was always elsewhere. I loved tech and I loved writing and didn’t believe I could make a living writing. I certainly didn’t know I could combine both of those worlds. 

The idea is to find a balance and overlap among these four elements. When a person aligns their passion, vocation, mission, and profession, they are said to have found their ikigai—a sense of purpose and fulfillment in their daily life. The concept encourages individuals to explore the deeper meaning and satisfaction that comes from living a life that integrates these aspects.

Ikigai is often depicted as a Venn diagram, with the overlapping area at the center representing one's ikigai. This visual representation helps people reflect on their lives and make decisions that lead to a more purposeful and harmonious existence.

It's important to note that ikigai is a personal and subjective concept, and it may evolve over time. It encourages self-awareness and the pursuit of a meaningful and fulfilling life dream that goes beyond mere financial or career success.

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Follow with Ideas

 

The lack of innovation is not sudden, obvious or dramatic. It does not make headlines, you do not see or feel the dangers on a daily basis, It develops slowly over time, you become aware of them only when you realize you are stuck in an unprofitable business.

　

                       

The fact is that good — and even great — ideas aren’t always accepted with open arms. In fact, new ideas are often met with fear, and sometimes anger. What is there to say? We like comfort and control. Risk, even if calculated, is not our thing

Follow with Innovative Ideas; Use the following 3 strategies

Convergence Thinking. A process by which the boundaries across industries, businesses, markets, geographies, customer experiences is pooled for ideas, resulting in new business opportunities and customer value.By leveraging on technology, competition and customer you can provide leadership and design a future for your industry.

Orthodox Overturn. By learning new tools, techniques, and methods, you can Identify old organizational labits and legacy systems that serves as bottlenecks to innovation and growth. These allows for breakthroughs in applications and management.

Challenging orthodoxies can provide clarity needed to improve your business model, products, services, processes, customer experience, or brand. Starbuck has this one checked

Frugal Thinking. Scarcity of time and resources is the primary driver for frugallity that forces individuals and companies to be highly creative. It is not about being cheap, it is about the origin of successful start ups.

Even large companies can be successful corporate innovators by tapping into the right internal and external resources. You dont need a big budget R&D to be innovative.

Teach and practice these skills to keep your innovation pipeline full.

Twitter StatisticsTwitter Advertising Revenue 2013 (Projected)     $399,500,000
Twitter Stock Market Valuation (Projected)          $20 billion
Total number of registered Twitter users              554,750,000
Number of active Twitter users every month      115 million
Number of new users signing up everyday          135,000
Unique Twitter site visitors every month             190 million
Number of tweets that happen every second     9,100
Average number of tweets per day                       58 million
Twitter search engine queries every day              2.1 billion
Percent of users who use their phone to tweet  43 %
Number of people employed by Twitter              2,500

Great entrepreneurs, innovators, marketers, you name it, know that a good idea won’t stand alone on its own merits; it needs to be accompanied by an argument of equal or greater value.

The Global Top Brands

 

Apple just ended Coca Cola 13 years dominance as the most valuable brand.

What did Apple and Google Do Right?

Customer Experience:

Positive interactions and experiences with a brand contribute to a favorable brand image.

Customer service, responsiveness, and post-purchase support impact perception.

Brand Consistency:

Maintaining a consistent brand image across all touchpoints (online and offline) reinforces brand identity.

Reputation:

Public perception of a brand based on reviews, word-of-mouth, and media coverage.

The brand's behavior in social, environmental, and ethical contexts can affect reputation.

Brand Personality:

Human-like characteristics attributed to a brand, influencing how consumers relate to it.

For example, a brand may be perceived as friendly, innovative, or trustworthy.

What to learn from effective branding:

In situations with insufficient information to make a good decision, you must minimize the 

impact of making a bad one. To do so, you must create an environment that simplifies reversals and course corrections in response to new context. This “iterative governance” 

is antithetical to how our institutions run today.

 “Admire talent but cherish character.”

Rely too much on experience and you close yourself off to the new. 

Rely too much on understanding and you lose a risk tolerance that brings big upside, whether investing or otherwise. 

Rely too much on gut and you are shooting in the dark. 

So somehow, you navigate the balance, hopefully better and better, and that’s the process of improving. 

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Innovation Culture

 

"He has achieved success who has lived well, laughed often and loved much; ...who has filled his niche and accomplished his task; who has left the world better than he found it; ... who has never lacked appreciation; ...who has always looked for the best in others and given them the best he had..." ~Ann Landers

70% of successful entrepreneurs got their business idea while working for a previous employer. Innovators can transform an organization more quickly and effectively than others because they are self-motivated free thinkers. They are not always your top talent or the obvious rebels.

You can spot them, and they can help you build your next business.

Here is how............Innovators are.

Strategic - highly engaged on strategic projects privately.

Motivated - motivated by freedom and not necessary money

Pivotal - courageous to make a shift from the norm.

Authentic - believes in integrity and honesty.

The unfair reality of today's business world is that success hates the weak, despises the meek and ignores the uninformed. Successful companies must learn to build their own innovation engines by grasping how to find, develop, and retain innovators.

Jeff Bezos the CEO of Amazon recommends these three books to his top executives.
Bezos was kind enough to share the titles.

• The Effective Executive by Peter Drucker
• The Innovator's Solution by Clayton Christensen
• The Goal by Eliyahu Goldratt

If you are trapped in failed leadership, you can begin your entrepreneurial journey.

Here are some project management tools:

Activecollab - open-source project management tool

Zohoproject - full featured tool including Gantt chart.

Producteev - works well with Gmail or google apps to create task from emails.

ActiveInbox - free plugin to managing your inbox.

Smartsheet - online spreadsheet that can allocate task to a specific row.

Liquid Planner - advanced project management tool with the ability to analyze the ripple effect of a change on multiple projects on a Gantt chart.

Web based process mapping tools include: Bubble.us, Griffy, Creately, Lucid Chart, Smart Draw and MindJet

"The five essential entrepreneurial skills for success: Concentration,
Discrimination, Organization, Innovation and Communication."

-- Harold S. Geneen

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