The Hybrid Entrepreneur

Seldom does a mortal exceed his own expectations, for each dead dream is a missing chapter in the annals of his greatness......Emmanuel Sodipo

The hybrid concept fundamentally changes the way we go about our lives and business. From our homes, our offices and to our cars, we can become more productive and efficient.

The hybrid entrepreneur maximizes his knowledge of cloud computing, uses the social media as a collaboration tool and adopts the bring your own device policy in his work environment. He is experienced enough to take the consumerization approach to new technology.

This quasi-technology/business executive is skilled in the language of business as much as the technology that feeds and drives profit. He is able to speak to the technology and to the marketing side without creative conflict about where to spend the dollars.

He operates a scalable but innovative digital ecosystem of organizations and individuals transacting across the globe in open transparent collaboration.

Hybrid entrepreneurship offers a pragmatic path—one that combines stability with entrepreneurial aspirations. It’s about building your dream while keeping your feet on solid ground.

Here are a few of such Entrepreneurs.
Born in Taiwan, Jerry Yang created the popular Yahoo! website in 1995 when he was a Stanford engineering graduate student. Forbes magazine estimates his net worth at $1.2 billion. Sergey Brin was born in Russia and earned degrees in mathematics and computer science in the U.S. In 1998, along with another Stanford University doctoral student, he launched the Google search engine. He is the fourth youngest billionaire in the world.

French-Iranian American entrepreneur Pierre Morad Omidyar came to the U.S. as a youngster. When he was 28 years old, he founded the prolific eBay Internet auction site. He is the 145th richest person in the world and 47th in the U.S. "I started eBay as an experiment, as a side hobby, while I had my day job."
What if we apply the hybrid concept to a Nation outside the U.S

As an entrepreneur in Chile, you have an incredible latitude to hire whomever you like, no matter their country of origin and those employees can apply for their passport within a year of their stay.

Chile is party to more free trade agreements than most countries in the world with one of the lowest unemployment rates.

Hybrid entrepreneurs derive income from multiple sources, including salaries or wages from their traditional employment and profits or revenues from their entrepreneurial activities. This diversification helps mitigate financial risks and provides stability.

The ultimate goal is to transition from traditional employment to full-time entrepreneurship once their business ventures become sustainable and profitable. The income and skills accumulated through hybrid entrepreneurship can facilitate this transition.

You are only limited by your imagination.

Socialize to Grow the Business

"Golf and Business can mix just fine if you remember why you’re really there. To have fun with your friends, treasure the golf, and enjoy the day.".... Stephen Rayfield

You won't be promoted because you have a graduate degree. You may get promoted because of what you applied from graduate school, which is very different - it requires a lot more insight and effort.

You can double your business insight and effort by socializing. Golf is only second to restaurants for generating the most effective business leads. In a digital and social age, People are your channel to success; you don't own them, you don't rent them, you can't control them. You can only serve and support them.

Here two effective methods:
Empower your customers to be brand advocates.

Treat your entire organization as your marketing team.

Encouraging social interactions within the workplace is vital for a strong business:

Efficiency Boost- Companies with happy employees are up to 20% more productive. Socializing fosters positive work environments.

Knowledge Sharing- When information is shared across teams, autonomy and growth improve.

Balance- Strive for a balance between fun and professionalism during workplace socializing.

Participating in community events, charitable activities, and local initiatives can enhance a business's reputation and social impact. By supporting causes that align with their values and interests, businesses can demonstrate their commitment to social responsibility and strengthen ties with the community.

Socializing with customers and clients is crucial for building strong relationships and fostering loyalty. Businesses can engage with customers through social media, email marketing, personalized communications, and customer feedback channels to listen to their needs, address concerns, and provide excellent service.

Socializing with people is made a lot easier by intensive use of technology and data — not only to automate but to analyze and personalize. Technology brings speed and scale to what previously was impractical or unaffordable.

Social media monitoring enables you to listen and respond on problems on a global scale and in real-time. Approximately 25% of Americans listen to podcasts regularly. Source: Arbitron.

Add your blog to sites that automatically generate a recording of the post in digital voice. Use SlideShare for professional content sharing community. 

Social media analytics tools provide businesses with valuable data and metrics to measure the performance of their social media efforts. By tracking key metrics such as engagement, reach, and conversion rates, businesses can assess the effectiveness of their strategies and make informed decisions to optimize their results.

"Socialize for business" refers to the process of using social interactions, networking, and relationship-building for professional purposes within the context of a business or organization.

Socialize to success 

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Social Risk and Private Reward

Both optimism and pessimism are two different forms of delusion and in business, the game is to treat Triumph and Disaster with the same level of caution.

We all know funding is critical for innovation and the survival of SMEs, A lot of the funds spent for upstream research can be channeled back to the business through downstream commercialization.

One form of funding that should not be ignored is the government:

Google’s algorithm was funded by the National Science Foundation, Iphone smart technologies were also funded by the U.S government; GPS, touchscreen display and Siri. Apple also benefited from early-stage finance from the U.S. government's Small Business Investment Company program.

Venture capitalist only got involved long after the proof of concept had been established, in other words the government took more risk to spark innovation in a strategic area. Once the business is running, the stock market can be an excellent source of funds for expansion, growth and wealth. The same way Apple became the most valuable company for a couple of years.

Government plays several essential roles in the business ecosystem:

Regulating markets- They establish rules and regulations to ensure fair competition, consumer protection, and environmental sustainability.

Providing infrastructure- Governments invest in infrastructure (roads, utilities, etc.) that businesses rely on for operations.

Fostering innovation- Through policies, funding, and research, they encourage technological advancements.

Stabilizing the economy- Governments manage monetary policy, fiscal stimulus, and economic stability.

Promoting social welfare- They address inequality, poverty, and social issues.

The balance between government intervention and free-market dynamics varies across countries and industries.

However, an efficient market prices things accurately. The more informed buyers and sellers who behave in a logical fashion, the more efficient a market becomes. The stock market is somewhat efficient, meaning it prices stocks at rational levels over the long term. But on any given day, the stock market is driven by alternating cycles of fear and greed which distort prices away from their fair value. Day traders are simply gamblers who are one trade from disaster and the market is more efficient with investors.

A smart way to innovate and grow your business is to spread the upstream investment risk with government for a triumphant downstream reward which should benefit all stakeholders. 

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Building a Business Footprint

"A business has to be involving, it has to be fun, and it has to exercise your creative instincts" - Sir Richard Branson – founder and chairman of Virgin Group

Poor innovation culture is simply poor leadership strategy, poor leadership is simply poor planning. While SMEs are better able to manage the tension between operating today's business and creating enabling environment for tomorrow's opportunities, traditional multinationals struggle.

The term "business footprint" typically refers to the overall impact of a business's activities on the environment, economy, and society. It encompasses various factors, including:

Environmental footprint: This includes the company's use of natural resources, energy consumption, waste generation, and greenhouse gas emissions. Assessing and reducing environmental impacts is essential for businesses to contribute to sustainability efforts and mitigate climate change.

Economic footprint: This refers to the financial influence of the business, such as its revenue, profits, taxes paid, investments made, and employment opportunities created. A positive economic footprint can contribute to local and global prosperity.

Social footprint: This involves the social consequences of a company's operations, including its impact on employees, communities, customers, and other stakeholders. Factors such as labor practices, community engagement, diversity and inclusion initiatives, and product safety and ethics contribute to the social footprint.

SMEs tend to gravitate away from the command-and-control systems built by expensive lawyers and consultants for giant corporations. By leveraging on group intelligence while keeping their businesses small and lean SMEs encourage greater awareness of value and cultural models across the global landscape.

The SMEs in emerging markets are getting more proficient at building on this model ........

However, in U.S. SMEs account for 97% of the total exporting firms creating less than 30% export value; this is far from optimal, even though SMEs are recognized for their vital role in creating jobs and supporting supply chains in the domestic market, there is still some distance to go in the global village.

In Europe over 90% of all businesses are SMEs creating two-thirds of all jobs in the domestic market

As the online cloud services takes a foothold, it becomes more beneficial to SMEs by allowing entrepreneurs to deploy new operational models, competitive and quality service. The SMEs becomes a micro multinational by keeping the costs of operating in new countries and emerging markets very low.

During moments of deep change and socioeconomic uncertainty, entrepreneurs that adapt quickly will see rapid growth. An astute leader knows that change is a constant; an adaptive leader bakes agility into the company at all levels to help it navigate global change.

To be a global player, you can even loan  out as little as $25
  

Your loan for as little as $25 can make a great impact on entrepreneurs in developing nations. Loans can go to families trying to support an agricultural business in El Salvador. Or groups purchasing additional products for their fruit market in Rwanda. Or a man who needs new tires on his van for his transportation company in Kenya.

Leave a Footprint 

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The Magnetism of Stupidity

It is better to light a candle than to curse the darkness - Chinese proverb.

Most executives rarely think that organizational inefficiencies start with their own management team’s stupidity.

The combination of intelligence in different people is more difficult than the combination of stupidity. This isn’t only because the power of stupidity is generally underestimated and its consequences often unpredictable. But,

“Stupidity is brainless; it doesn’t need to think, get organized, or plan ahead to generate a combined effect.......Giancarlo Livraghi.

When elements of the management team are dysfunctional, they soon start recruiting people with similar traits, the organization becomes polarized with massive pool of super stupid.

Teamwork is also stifled when management has not clearly communicated their vision and strategic plan to the organization as a whole.

This management inefficiencies soon runs the entire organization into extinction.

Look out for the following dysfunctional trait:

•         Super-human that does not need the help of anyone

•         He does his own thing without asking the advice or input of anyone

•         So smart that simple communication with anyone on the team is an absolute waste of their          time and energy

•         You just don’t know what their temperament will be.

•         Everything has got to go their way and cannot see beyond themselves

Coincidence can put wise words in anyone's mouth.........But the transfer of intelligence is a much more complex process.

What Is Intelligence? 

Intelligence, in the realm of psychology, encompasses various mental capacities:

Learning from experiences- The ability to acquire knowledge through exposure to different situations.

Adaptation- Adjusting to new environments and challenges.

Abstract thinking- Grasping complex ideas.

Problem-solving and critical thinking.

• Positive transfer, when learning in one situation facilitates learning in another (e.g., violin skills aiding piano learning).
• Negative transfer, learning one task makes another task harder (e.g., speaking Telugu hindering Malayalam learning).
• Zero transfer, learning one activity neither helps nor hinders another task (e.g., history knowledge and driving a car)

Psychologist Robert Sternberg aptly defined intelligence as “the mental abilities necessary for adaptation to, as well as shaping and selection of, any environmental context” 

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Global Dynamics

"Half of Google's revenue comes from selling text-based ads that are placed near search results and are related to the topic of the search. Another half of its revenues come from licensing its search technology to companies like Yahoo."----- Eric Schmidt, CEO of Google.

"Global dynamics" refers to the interconnected and constantly evolving interactions, relationships, and forces that shape the world on a global scale. These dynamics encompass a wide range of political, economic, social, environmental, and technological factors that influence the behavior and outcomes of countries, regions, and international actors. Here are some key aspects of global dynamics:

Geopolitical Shifts:

Global dynamics are influenced by geopolitical shifts, including changes in power dynamics, alliances, and rivalries among nations. Factors such as territorial disputes, military conflicts, and diplomatic relations shape the geopolitical landscape and influence global stability and security.

Economic Interdependence:

Economic globalization has led to increased interdependence among countries, with economic activities, trade flows, investment patterns, and supply chains spanning across borders. Global economic dynamics are shaped by factors such as economic growth, trade agreements, monetary policies, financial markets, and international trade tensions.

United States is still leading the global market in innovation and hence home country to the worlds most valuable companies. 

Lets look at some interesting results.

Apple 2011 financial results:
$108.25 billion in sales
$25.92 billion in profits

Microsoft 2011 financial results:
$69.94 billion in sales
$23.15 billion in profits

Google 2011 financial results:
$37.9 billion in sales
$11.7 billion in profits

These companies were started by ordinary people who discovered their purpose /passion early. Even without college degrees, they built global brands.

However, the global dynamics is changing;

The USA's share of World Gross Domestic Product has dropped from
31.8% in 2001 to just 21.6% (a drop of -32.3%) in 2011, while China's
share of global GDP grew by 153.6% in the same period.

Japan experienced a -35.2% drop and the UK lost -24.1%, while India
(+72%), Turkey (+81%), Brazil (+105%), Russia (+178%), and Australia
(+65.6%) saw their economies grow significantly in that period.

Global dynamics is inevitable, but it does not have to be at cost to the western world. A model that empowers and challenges every human resource in western nations must be found.

let's look at some empowering stories in the entertainment industry…

Bill Cosby shined shoes and sold produce when he was young.

Danny DeVito was a formally trained hair stylist .

Michael Douglas once worked as a gas station attendant.

Tom Hanks once worked as a hotel bellman and carried bags for a number of celebs.

Dan Akroyd was a mail sorter for Canada's national postal service.

Jennifer Aniston was both a telemarketer and waitress.

Alec Baldwin was once a bouncer.

Halle Berry worked at Higbee's Department store in the children's department.

Sandra Bullock worked as a bartender.

Simon Cowell was a mailroom clerk for EMI Music Publishing where his father worked.

Understanding and navigating global dynamics require a multidisciplinary approach, strategic foresight, and collaboration among governments, businesses, civil society organizations, and individuals to address complex challenges, seize opportunities, and build a more sustainable and equitable world. By recognizing the interconnectedness of global dynamics and working together to promote cooperation and solidarity, stakeholders can contribute to positive outcomes and shared prosperity in an increasingly interconnected and interdependent world.

Every human resource that discovers purpose is a global asset...............

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Developing a Model for Emerging Market

"Emerging markets often require business models that have a much broader scope," ----------- Josh Suskewicz

With established markets becoming saturated, multinational corporations (MNCs) have turned increasingly to emerging markets (EMs) in the developing world.

Such EM strategies have been targeted almost exclusively at the wealthy elite at the top of the economic pyramid. Recently, however, a number of MNCs have launched new initiatives that explore the untapped market potential at the base of the economic pyramid, the largest and fastest-growing segment of the world’s population at 4 billion people. Almost completely ignored until recently is a huge base of potential customers whose annual purchasing power parity (PPP) is less than $1500 per year.

And there are a lot more poor people in the world than rich people. To be a global business and to have a global market, you have to participate in all segments.

– Keki Dadiseth, Director, Hindustan Lever Limited (Unilever’s India subsidiary), discussing his company’s efforts to target the rural poor

The vast majority of the populations in emerging markets operate primarily in the large, but hidden, informal economies that are not recorded in official gross national product (GNP) or PPP statistics. Across the globe, it has been estimated that the informal sector includes more than $9 trillion in hidden (or unregistered) assets,

To succeed in Emerging markets, you have to Co-invent custom solutions:

•  Allow for user innovation and modification.
•  Product and business model design should co-evolve.
• Build local capacity.
• Recognize the value of existing local institutions.
• See gaps in local infrastructure or missing services as potential opportunities.

Emerging markets have to deal with scarcity in so many forms: lack of capital, inadequate infrastructure, and low levels of literacy, however, they do not have a scarcity of ingenuity and determination to succeed. .

I Wish You Great Success