02
Nov 12

Why Private Equity Is Not All Bad | Inc. 5000

Mitt Romney’s presidential campaign has turned a negative spotlight on private equity. But PE is a much needed solution to a void in the marketplace.

Imagine starting a business, growing it successfully over 5, 10, 15 years, and then reaching the stage where you need a partner to provide capital and help the company continue to grow. You might want to get some well-earned liquidity yet still retain some equity in the business to stay invested in the future. Debt financing may not be practical for you, as banks often require personal guarantees from entrepreneurs. This common scenario is where private equity can play a vital role.

Private equity brings a huge amount of capital to businesses that otherwise might not have the resources to grow, or to a marketplace that otherwise might not be able to fulfill the objectives of shareholders. Businesses, whether distressed or growing, often reach an inflection point where additional capital can serve a crucial need to either save the business or take it to the next level.

via Why Private Equity Is Not All Bad | Inc. 5000.


01
Nov 12

Inc. – How a Marathon Business Keeps Its Customers Happy | Inc.com

Want to own your industry? Don’t think vertical integration; think participant continuum.

Participant what? I know, that’s what I thought. But stick with me–this is a cool business strategy.

Here’s another in my series in which I pick a topic and connect with someone a lot smarter than me. (Check out some previous installments at the end of the article.)

This time I talked to Scott Dickey, the CEO of Competitor Group, a privately-held sports marketing and management group that owns and operates running, cycling, and triathlon events (including the Rock ‘n’ Roll Marathon series) and magazines like Triathlete, VeloNews and Competitor. (Disclosure: I subscribe to VeloNews.)

From the outside looking in, you’ve created “synergy” (dislike the word but in this case it fits) between your various lines of business.
The events and the magazines/websites definitely feed off each other. We look at it as an ecosystem. We’re in the business of participant-based sports, not fan-based, so we see it as a participant continuum.

More of the Inc.com post from Jeff Haden


31
Oct 12

ZDNet – Why Amazon is within its rights to remove access to your Kindle books

There has been a fair amount of indignation directed towards Amazon over the last couple of days.

Amazon deleted Norwegian IT Consultant Linn Nygaard’s Amazon account and removed access to the Kindle books she had purchased.

Martin Bekkelund blogged how Amazon closed her account and wiped her Kindle. It offered no explanation as to why it had done so.

Although it smacks of poor customer service, Amazon is completely within its rights to do this. Its terms of service state:

All content included in or made available through any Amazon Service, such as text, graphics, logos, button icons, images, audio clips, digital downloads, and data compilations is the property of Amazon or its content suppliers and protected by United States and international copyright laws.

All the books on your Kindle are not yours. They belong to Amazon. All that cash you have paid was simply to access these books on your Kindle. You have not paid to own the books. If you want to own books, pay for physical printed books and get Amazon to send them to you by post.

ZDNet – Why Amazon is within its rights to remove access to your Kindle books


30
Oct 12

Marketing Technology Blog – Why Isn’t Your Sales Rep on Social?

At a recent conference, we found one of our clients skillfully networking and working the room. They were doing a fantastic job and garnering some good leads despite a luke warm attendee list at the conference. When Marty spoke with them, he noticed that they didn’t have any social information for him to connect with the sales people online. After returning, he wrote the business to let them know and they were honest and said their sales team wasn’t really that social.

You have to be kidding me.

While LinkedIn may seem like a chore, Facebook may seem like it’s for college kids and even the word tweeting may sound ridiculous, these are the biggest online conferences that you can find. There are billions of people online with hundreds looking for your products and services on any given day, asking about your company, and willing to engage online more than they would offline.

Industry groups on LinkedIn, Industry pages on Facebook, Tweetups, live Twitter sessions and hashtags on Twitter offer an incredible opportunity for your sales team to network, build credibility, and find prospects online. Why in the world you would spend thousands of dollars to build a booth and send your sales team to a conference… but ignore social media? That’s just plain nuts nowadays. Nuts.

Why Isn't Your Sales Rep on Social? | Marketing Technology Blog.


10
Oct 12

Afterlife exists says top brain surgeon – Telegraph

Dr Eben Alexander, a Harvard-educated neurosurgeon, fell into a coma for seven days in 2008 after contracting meningitis.

During his illness Dr Alexander says that the part of his brain which controls human thought and emotion “shut down” and that he then experienced “something so profound that it gave me a scientific reason to believe in consciousness after death.” In an essay for American magazine Newsweek, which he wrote to promote his book Proof of Heaven, Dr Alexander says he was met by a beautiful blue-eyed woman in a “place of clouds, big fluffy pink-white ones” and “shimmering beings”.

He continues: “Birds? Angels? These words registered later, when I was writing down my recollections. But neither of these words do justice to the beings themselves, which were quite simply different from anything I have known on this planet. They were more advanced. Higher forms.” The doctor adds that a “huge and booming like a glorious chant, came down from above, and I wondered if the winged beings were producing it. the sound was palpable and almost material, like a rain that you can feel on your skin but doesn’t get you wet.”

via Afterlife exists says top brain surgeon – Telegraph.


09
Aug 12

Why a Valuation Is Less Important Than You Think – Inc.com

Take a picture of your iPad. Then, drop your iPad off a 20-story building. Now, take another picture. That “before” picture doesn’t say much about the current value of your iPad.

Essentially, this is the problem with business valuations.

A business valuation is a detailed financial analysis that gives you an estimated range of what your company is worth. There are plenty of business appraisers out there. The reputable ones will be certified by the ASA (American Society of Appraisers), the NACVA (National Association of Certified Valuators and Analysts), or a similar organization. They’re not cheap. A professional valuation can set you back anywhere from $30,000 to $50,000.

via Why a Valuation Is Less Important Than You Think – Inc.com


08
Aug 12

The Case for Lying to Yourself – WSJ.com

Lying to yourself—or self-deception, as psychologists call it—can actually have benefits. And nearly everybody does it, based on a growing body of research using new experimental techniques.

Lying to yourself — or self-deception, as psychologists call it — actually has benefits sometimes. Based on a growing body of research using new experimental techniques to induce and analyze self-deception, researchers are finding that most people lie to themselves at least some of the time. Sue Shellenbarger explains on Lunch Break.

Self-deception isn’t just lying or faking, but is deeper and more complicated, says Del Paulhus, psychology professor at University of British Columbia and author of a widely used scale to measure self-deceptive tendencies. It involves strong psychological forces that keep us from acknowledging a threatening truth about ourselves, he says.

Believing we are more talented or intelligent than we really are can help us influence and win over others, says Robert Trivers, an anthropology professor at Rutgers University and author of “The Folly of Fools,” a 2011 book on the subject. An executive who talks himself into believing he is a great public speaker may not only feel better as he performs, but increase “how much he fools people, by having a confident style that persuades them that he’s good,” he says.

The Case for Lying to Yourself – WSJ.com


07
Aug 12

Gizmodo – Toilet Paper: A Brief and Sometimes Painful History

Seinfeld excelled at criticism of the everyday. A few months ago, in a fine essay in the NY Times, Sam Anderson suggested that Roland Barthes was the father of pop cultural criticism and that we are all now cultural critics in the Barthian vein, “decoding everything.” Perhaps. But if Barthes gave us serious criticism of popular culture, Seinfeld taught us to be ironic critics of the utterly mundane. Case in point: toilet paper.

via Gizmodo-Toilet Paper: A Brief and Sometimes Painful History


02
Aug 12

Marketing Tech Blog – Service Industry Marketing Must Include Angie’s List

Word of mouth plays a big role in creating a positive brand image and prompting prospects to make that final leap into making a purchase or patronizing a service. The web has a plethora of review sites… most of which are open to anonymous users that have become problematic due to trolling competitors and false reviews. These sites are overrun by competitors hoping to damage your reputation.

Businesses are surprised to find out how different our client, Angie’s List, is. On Angie’s List, your business account is free. Your reputation is built from a 1.5 million strong subscriber base, all of them registered and usually paid subscribers, eliminating the chances of bogus or biased reviews. Angie’s List even provides a mediation service to ensure issues are reported accurately. The service has become so popular to its users that people often search for Angie’s List + the service and city!

Angie’s List is the nation’s premier provider of trusted reviews on contractors and doctors in over 550 categories, like roofers, plumbers, house cleaners and dentists. More than 2 million members check Angie’s List to find the best local service providers and save on projects with exclusive member discounts

Marketing Tech Blog – Service Industry Marketing Must Include Angie's List


01
Aug 12

Entrepreneur.com – How to Train Your Creative Mind

As Louis Pasteur once famously said, “Chance favors only the prepared mind.” To be an innovative entrepreneur, you want to foster creativity in your daily life so that your mind is ready when opportunity arises.

“Creative ideas often come from unusual combinations,” explains Steven Smith, professor of cognitive psychology at Texas A&M University. “The best solution is not going to be the thing everyone thinks of. It’s going to be something unusual.”

These unusual combinations, called “remote associations,” are related ideas that may seem unrelated at first glance. They are the essence of creative thinking.

To cultivate creativity, you want to increase your chances of stumbling on an unexpected link. Here are four strategies you can use in your everyday life that will train your mind to be more creative in business:

1. Shake up your routine. To expand your creative horizons, surround yourself with a broad range of perspectives and experiences. A diverse workplace is helpful, but it isn’t enough. Outside work, seek variety in what you eat, where you hang out, the types of art you look at, the places you travel, or the books you read.

Entrepreneur.com – How to Train Your Creative Mind