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Archives › December 2004
December 30, 2004
Iowa Has Plans to Improve Bad Economic "Grades"
Posted by at 9:43 AM
The Hawkeye State is taking a hawkish stance on improving its bad "grades" on this year's economic report card by luring in Bay-Area venture funds.
Acuity Ventures, a San Jose-based venture firm which focuses on young, Web-based software companies, has agreed to invest $10 million on technology businesses expanding or relocating to Iowa over the next five years. Experts say this is the first such move in the state's history. The move promises to create 300 jobs with an annual salary of at least $50,000 each, nudging the farm-focused economy a high-tech step in the right direction, and it couldn’t have come at a better time.
The Corporation for Enterprise Development gave the Iowa economy its annual "grades," showing the venture agreement reached days earlier was much needed.
The Hawkeye state's report card, though with some bright spots, is more worthy of detention than the honor roll. According to the report, the state received a "D" in business vitality, citing that Iowa "needs to find ways to increase its entrepreneurial energy," ranking next to last in the number of new companies formed, with South Dakota bringing up the dubious rear. The report recommended that the state "stop chasing big business jobs that may not last" and focus more on the neglected entrepreneurial economy. The report also listed Iowa as 38th out of 50 in the total number of tech jobs available and 33rd in job growth due to new business.
But the news wasn't all bad. The state received a "B" for the overall performance of the economy but received a "C" in the capacity for development. The report deduced that "though providing quality jobs, an equitable income distribution and clean air, the state spawned few new companies and those that already existed invested little in their future capacity."
With above-average high school test scores, a foundation of top-tier universities and a loud commitment from the state to invest money in venture-minded firms, Iowa is on the right track to improve. With bold moves coming from companies like Acuity the Iowa small-business economy may be looking up, but it will remain grounded until it improves those low economic grades.
December 29, 2004
New Year's Resolutions
Posted by Carole Matthews at 10:52 AM
Adam Hanft resolves to exercise more restraint when answering e-mails and to cultivate nimbleness in his business in this month's column. Inc. CEOs' pledge to be funnier fathers, strengthen their faith, and "stop cussing so much," in a resolution round-up with Inc. reporters Darren Dahl and Lora Kolodny. Personally, I resolve to become better organized in 2005.
What are your resolutions? Put them on the record here, and then bookmark this blog to keep tabs on whether you're living up to them in '05.
December 17, 2004
The Apprentice
The Apprentice - Finale Party
Posted by Nadine Heintz at 3:59 PM
Though I was disappointed in last night's season finale, I loved the wrap party at Roseland. But more on that later. Did anyone else think that the three hour episode was a tad much? I love Regis Philbin, but come on. As for the final showdown, it was pretty clear from the beginning that Jen was no match for Kelly. Frankly, I wasn't rooting for either of them. But I was hoping for more of a competition.
Jen really screwed up by delegating all of the important tasks, like dealing with the event sponsors, to other team members. Meanwhile, she stayed up all night printing out lousy signs. That was a total waste of time and energy. And what was with her outfit? I wouldn't dress like that to go to the grocery store. Jen and her entire team looked like bums. I understand they wanted to be sporty, but there must have been a classier way of pulling off the look. Kelly, on the other hand, always looks polished and projects a calm demeanor. I like the way he handled the dispute between Raj and Elizabeth. He nipped it in the bud before it got out of control. Still, I don't think he's so great as everyone was making him out to be. He's not a superhero. But I guess the best person doesn't always win in the business world, or, for that matter, on reality television. I would have loved to see Sandy and Kelly duke it out instead. Sandy lacks education, but she's learned from real life business experience, which no degree can buy.
While this season wasn't as exciting as the last one, the finale party was just as fabulous. Bobbie and I arrived on the red carpet just after 11. Roseland was transformed into a scene from New York City, complete with astro turf, park benches, street vendors, and even fake snow falling from the ceiling. It looked amazing. Not surprisingly, Omarosa held court on the dance floor for much of the night. She arrived in a fiery red ball gown, flanked on all sides by an entourage. I guess she forgave me for confronting her at last year's party, because she sauntered over to Bobbie and me on the dance floor. She was behaving rather well, actually. A few other favorites from last year were there, including Bill (looking kind of lost), Kwame (and his beautiful date), and Troy (charming as always). We talked to Nick's sister, who's sweet. Unfortunately, Moose was unable to attend this year. And, while Bobbie spotted Sugar Ray Leonard, Tony Danza never showed up. Needless to say, I was pretty disappointed about that.
Of course, Carolyn and George were there. Carolyn looked beautiful in a gold gown as she floated on the dance floor with Kwame. Raj wore his signature red pants and held court with the press and admirers all night. Bobbie and I talked to Sandy, and told her we thought she should have won. She was there with another bridal shop owner, who was rather fabulous. The Donald and Melania were there very briefly...so briefly I didn't even see them. But I must say he threw one heck of a party. Unfortunately, at 2 AM, the music stopped and it was time to go home. I must say I'm looking forward to next season. I heard some talk at the party that it's going to be Ivy Leaguers versus high school grads. That could add some life back to the show. I guess we'll find out soon enough!
December 16, 2004
Drives: Honda Accord V-6 Hybrid
Posted by at 3:05 PM
Drives by Patrick Sauer, and this installment by Allen Roberts, offers an Inc. view of the latest cars to hit the streets. To see more car reviews, check out the Drives archives.
Very few of us would say that weight gain is a good thing--especially if it's over 100 pounds. But the folks at Honda have shown that putting on an extra hundred can actually be a good thing.
The new Accord V-6 Hybrid--that's right, V-6 Hybrid--cruises out this winter and with it, a whole new way of looking at cars will follow in its wake. It used to be one or the other, V-6 power or four-banger mileage. But the super-geniuses at Honda have corralled an additional 15 horses under this Accord Hybrid's hood (up to 255 hp) for those who like having their six cylinders but are feeling the pain at the pumps -- by the way, this car will never, ever need to be plugged in. And here's the best part, with that main course of horsepower comes a free side of better mileage--up from 24 city and 34 highway in the standard V-6 to 30 and 37 in the Hybrid. That means 633 miles per tank, in the fast lane--talk about wallet weight gain, ka ching.
Besides the usuals: leather, power everything, seat warmers and coolers, the Hybrid also sports a six-disk CD changer with AM/FM and XM radio, standard. There are also some technological innovations that make the car very forward thinking. Honda has thought of everything with this car, from using lightweight metals in the engine and suspension to re-engineering the power steering to run electric while allowing the AC to work with either electric or combustion motors, both in an effort to save precious petrol. They even added pedestrian safety features, making the Hybrid the safest car in its class to get hit by--honest, I didn't make this up. There's also a feature called Integrated Motor Assist, which puts three of the six cylinders to sleep while the car is cruising and uses the electric motor as supplemental power (232 ft lbs of torque at 5,000 RPMs), just in case an 18-wheeler decides to change into your lane without checking with you first.
Another forward-thinking innovation is a feature that completely shuts the engine down when the car reaches speeds below 10mph. Honda has developed an electric motor with enough low-RPM torque to turn the engine over and get the wheels rolling before the gas comes back on--allowing the car to sip fuel on those gas-chugging, off-the-line starts (this took a little getting used to but performed well). And just for the record, the Hybrid goes 0-60 in 6.7 seconds, not bad for a granola-friendly car.
Most of the weight gain came from the Hybrid technology, i.e. heavy motors, batteries etc., but by slapping on an aluminum hood and cutting the usually standard moon roof and doughnut-style spare (which was replaced by a fix-a-flat goop system) the Hybrid was able to restrict the weight gain to just over 120 lbs.
Unfortunately, the sticker price couldn't pull off the same feat -- plumping up to around $30,000, a gain of more than $3,500 over the standard V-6 Accord, which is a lot of money for a car without a moon roof. But the trade off is that the Hybrid V-6 gets nearly 40 mpg, making owners feel a bit heavier--in the wallet that is.
December 15, 2004
At the Movies: The Aviator
Posted by at 1:03 PM
"Fasten your seatbelts and strap yourself in for The Aviator. This entrepreneurial epic soars!!!" -- Patrick J. Sauer, Inc.com
This is my Gene Shalit riff, a pathetic attempt at gushing my way onto a Miramax movie poster, but all hyperbole aside, it's not that far off from how I feel about The Aviator. It's a thoroughly entertaining movie, a rip-roaring paean to the ballsy life of the pre-total-insanity Howard Hughes and his all-encompassing obsession with owning the skies. The film opens with a brief scene from Hughes' childhood showing the origin of the germaphobia that would later cripple him, but then it jumps right into the whirling dervish approach Hughes took towards life, and lands on the set of Hell's Angels, the most expensive film ever made up to that point. It's clear that Hughes (Leonardo DiCaprio) answered to no one and threw his fortune around in his relentless pursuit of perfection. To that end, he moves the entire set from Southern California to Oakland because his handpicked weatherman guarantees clouds, and then later he re-shoots the entire picture because people want talkies.
The Aviator is at its best when Hughes wills his dreams to come true with a cocksure glint in his eye, be it setting a speed record of 352 mph in his self-designed H1 airplane or proving to the United States government that hell yes, the Spruce Goose can fly. It's a credit to screenwriter John Logan and director Martin Scorsese that neither Hughes' steady parade of Hollywood starlets, ill-fated love affair with Kate Hepburn (a marvelously off-kilter Cate Blanchett) or haunting obsessive-compulsive disorder overwhelm the main thread, that aviation became Hughes' life. The film lays bare the mano-a-mano battles Hughes fought with his company, TWA, against Juan Trippe (played with studious measure by Alec Baldwin) and his company, Pan Am, which had the backing of the federal government in the person of weasely Senator Owen Brewster (Alan Alda is a far-cry from the noble Hawkeye Pierce). Hughes relishes the riveting corporate war for the skies. It seems to be the only thing keeping his demons at bay.
Late in the film, there's a great scene where a naked, hairy Hughes teeters on the brink of total madness on one side of a door, while a composed Trippe taunts him on the other, which rallies Hughes to pull himself together for one last fight. Weighted down with the straightforward vengeance-is-mine role in Gangs of New York, DiCaprio opens it up as Hughes and lets it fly (Shalit #2). DiCaprio nails the charm, passion, loneliness and mental deterioration that simultaneously coursed through Hughes' veins (which would have been so much calmer if only he'd invented Zoloft.)
Few Inc. entrepreneurs will ever get the chance to revolutionize air travel while bedding glamorous move stars (although I've heard whispers of Richard Branson and Lindsay Lohan), but they will still recognize the go-for-broke drive it takes to change the world, or at least a small patch of it. Hughes had the same day-to-day issues as any business owner: bean counters, bureaucrats and naysayers, even if when he "went down in flames," it was both literally and figuratively. There are few movies made about the old-fashioned American entrepreneur, so be glad that Martin Scorsese has made a good one. And with apologies to Gene Shalit ...
"Howard Hughes himself would have been obsessed with The Aviator, it's the Spruce Goose of aviation-themed biopics!!!" -- Patrick J. Sauer, Inc.com
(I feel dirty and need to wash my hands. Just go see it.)
December 14, 2004
Branding
What Would You Do If?
Posted by Bobbie Gossage at 12:01 PM
I found this New York Times article about Sara Lee's Kiwi shoe polish pretty interesting. The company's new ad campaign is designed to get people to use more of the shoe polish they already own. It kind of reminds me of baking soda... remember when they told you to brush your teeth with it, put a box in the fridge and the freezer, and even pour it down the drain (to make it smell better)? Maybe Sara Lee needs to think of some new uses for shoe polish. What would you do if you were running Sara Lee's campaign?
December 10, 2004
The Apprentice
The Apprentice - Week 14
Posted by Nadine Heintz at 1:39 PM
Wow. Last night's showdown between Sandy and Jen was unbelievably intense. One minute, they're downloading chicken cutlet recipes, and the next, they're ripping each other apart in the boardroom. It was pretty shocking. In fact, I would go so far as to say that it was downright unprofessional. Jen, in particular, took it too far. I know that the Donald likes to see people defend themselves, but Jen's behavior was really distasteful. And her argument was lame. So what if she moved all the way to San Francisco by herself? Big deal! And I have a hard time believing that San Fransisco's legal community is tougher than New York's.
As for Sandy, she didn't hold up well in the boardroom. She looked like a deer in the headlights, and she couldn't get a word in edgewise. That said, I'm disappointed that the Donald chose Jen over Sandy, based on Jen's ability to handle "complex" issues. I'm sure that Sandy, as a business owner has to deal with complicated legal and financial matters. I think it came down to her lack of education, which is pretty sad. Also, she pretty much folded during the interview process. She just couldn't hack it.
I have to admit that I almost cried when Kevin was fired. I really liked that guy. And if the Donald is so big on education, why did he bash Kevin for having too many degrees? I think Kevin's biggest mistake was telling one of the interviewers that he didn't really want to be a lawyer. That made him seem indecisive. But still, he's just as smart as Jen, and he's a way better leader. I'll miss him.
Overall, I'm pretty blown away by Jen's performance last night. It's almost like she planned to fly under the radar for the first 13 episodes, only to swoop in at the last minute and secure a victory. I don't know if that was a strategy, or just dumb luck. Does anyone else have a theory on that?
Next week should be pretty exciting. I'm betting on Kelly. Jen has already alienated the client, so unless she pulls off an amazing event, I doubt she'll get a good review. Plus, I wouldn't be surprised if the speaker tells her to shove it after the way she screamed at his assistant. I guess we'll find out soon enough!
Managing Remote Workers
Posted by Carole Matthews at 12:00 PM
I recently spent the day in our NY offices. Generally, I work full-time from my home office north of Boston, but this past Wednesday, I flew in in the morning and headed back to Boston in the evening. I generally do this every two or three months to touch base with the people I work with. I find it's good to have a bit of face time. Besides, it provides me with some renewed energy for my work. I suspect it also mixes it up for my co-workers a bit, whether that's good or bad.
The trip actually got me thinking about the whole telecommuting arrangement and wondering how Inc.com business owners manage remote workers. The technology is there to support the regular flow of communication, but how is your "quality" of communication with your remote employees? I'm lucky to have a manager and co-workers who regularly keep me in touch with the work "culture," so I'm not so a much fish out of water when I do make my office visits, and I entirely feel like a member of team despite my remote location.
Are you just checking in to see that projects are done, or are you engaging your remote employees in conversations that help you get to know them better, as you might with internal employees? And how often do you require them to visit your office?
If managing remote workers is a challenge, or if you're considering offering telecommuting as an option, here are a few good articles on the topic:
Guide to Selecting the Best Virtual Workers
4 Keys to Effectively Manage Remote and Mobile Workers
December 7, 2004
Miss Management - Office Gift Giving
Posted by Nadine Heintz at 2:41 PM
Each week, Inc. staff writer Nadine Heintz (Miss Management) will help you tackle office etiquette problems both big and small.
Dear Miss Management,
I own a small business in Milwaukee. Last year, some of my employees exchanged presents during our holiday party, while others were left out. On one hand, I'd like to institute some kind of policy that will prevent this from happening again. But, on the other hand, I don't want to be a grinch. Help!
Worried in Wisconsin
Dear WIW,
There's nothing worse than being the only person at the office holiday party who didn't receive a present. I applaud your sensitivity to those employees who might have felt left out last year. Luckily, there are ways to promote holiday gift giving that will make your entire staff feel warm and fuzzy.
Personally, I'm not a big fan of grab bags. It all dates back to the fourth grade, when my teacher asked us each to bring a small present to the holiday party. She dumped all of the gifts into a giant black garbage bag and proceeded to pass it around the room. Being the tallest person in the class, I sat in the far, back corner of the room so nobody would be distracted by my giant head. When the grab bag finally got to me, the only thing left was a headless plastic Santa Claus filled with stale candies. Needless to say, I felt ripped off. I wasn't a materialistic or spoiled kid, but come on!
Rather than go the grab bag route, try a gift swap. Gift swaps add an element of mystery to the holidays (I wonder who has me?) and forces everyone to be nice to each other for at least a few days (I better not take her pen or she may stiff me!). It also raises the bar as far as gift quality, since the present giver's identity will be revealed eventually. In other words, there's less chance that a headless Santa will make it into the mix.
In case you've never done a gift swap, here's how it works: Have your employees put their names in a hat. Ask each one to select a name and purchase a gift for that person. It's just for fun, so set a price limit of, say $10 per gift. That will force you and your staff to get creative. (But not too creative!) Make it clear that the gifts are to be distributed at the holiday party to ensure that no one is left out. Then, give away.
Have a dilemma for Miss Management? Send her an e-mail with the subject line "Miss Management" and check back here Tuesdays for the answer.
Leadership
Giving Back with Jess McCuan
Posted by Jess McCuan at 11:02 AM
Inc. staff writer Jess McCuan shares stories and insight into socially responsible companies in her series, Giving Back.
Making Charitable Work a Company Priority
When Jon Dezelsky founded Dream Team Technologies in Denver in 1996, he knew he wanted the business to be community-oriented -- which at first seemed like a cinch. His original crew of seven employees was enthusiastic about contributing time and money to local charities, and after four years of steady donations, the employees agreed to a system that fully incorporated charitable giving into their compensation packages.
What they came up with was a company measure that evaluated employee contributions on three levels: individual performance, team performance, and company performance. Fifty percent of an employee's compensation is based on individual performance; 25% on team performance; and 25% on company performance. Inside the company performance, a quarter of that compensation is directly based on an employee's community involvement. "It affects people's pay on how well we do giving back to the community on a monthly basis," Dezelsky says. "[Giving back] could be financially, it could be volunteering, it could be creating an open house for the nine story building we're in--we have all different kinds of community projects that we do."
Dream Team Technologies' main business is designing websites for schools and government agencies. While the company's revenue has grown over the years, and cash donated to local charities has run into the tens of thousands, there have been some lean years where the wealth wasn't so easily spread. During 2001 and 2002, when the company, and many others, struggled, Dezelsky's company donated websites and tech support to non-profits who needed the work, and even shared office space with some. "Instead of outgoing cash we used our non-cash resources instead," says Dezelsky.
Dezelsky found that outside of hosting non-profits, donating their services to them encouraged his own staff to think creatively about the Web's possibilities.
The company receptionist, for example, offered to take charge of a site for a non-profit, which led her to embark on a self-directed crash course in website maintenance.
No matter which cause you commit your company to, Dezelsky says, it's important to check out the charity in advance, and to make sure you have the time and resources to deliver what the charity needs. He says he once signed up for a board position with a Denver-area non-profit that expected new board members to write hefty checks. Dezelsky only wanted to offer his time and opinions, and his holding out on the donation check turned out to be a wise move: The group went bankrupt six months after he joined. Dezelsky also once had an employee volunteer for a community service project through Dream Team Technologies, but then the employee became less enthused about actually doing extra work. When the project fizzled, it left a bad taste in the community group's mouth, and it didn't do much to bolster Dream Team's reputation.
If you'd like to start making a contribution to your local community but aren't sure how, here are some tips from Dream Team Technologies:
1. Get to know your neighbors. Dream Team Technologies has been working out of a new nine-story building in downtown Denver for eight months, and recently, they realized they didn't know their neighbors. In January, they're sponsoring a block party with food, wine and booths where other companies in the building can learn about non-profits. Dezelsky is hoping to be able to help his neighbors better understand which non-profits might need their help and educate them on how they might contribute their services to help the non-profits as Dream Team has done.
2. Talk to your employees about causes they might be interested in supporting. If anyone in their family has ever suffered from a disease or ailment, they may be interested in volunteering for local events that help raise money to prevent that disease. In early talks with his employees, Dezelsky says, he discovered that one of them was passionate about combating Multiple Sclerosis. Her sister had suffered from it, and she was interested in mobilizing other groups of employees to join the cause. "She brings that to the team, and next thing you know, we have a fire under us," says Dezelsky. "Without passion, why do it?"
December 3, 2004
Merry Making
Posted by Carole Matthews at 10:06 AM
Holiday parties and other special events are a great way to show employees you appreciate all of their hard work. Employees get a chance to socialize with one another without impending deadlines or numbers to meet. They also give the business owner a chance to interact with employees in a less formal atmosphere, one unemcumbered by the pressures of the day-to-day running of the business. But for all of the merry making, one thing should loom large in an employer's mind this time of year--liability, especially when it comes to alcohol consumption at holiday events.
I know firsthand about the liability of serving alcohol at company-sponsored events. My late father, Rudy Kadlec, was the CEO of a 75-person firm in the 80s and 90s. He was probably the most fun-loving CEO a company could have, and he regulary sponsored corporate shindigs to recognize major milestones the company met or celebrate the holidays. And, being "one of the guys" -- his employees never really felt he was their boss, more a team player -- he never thought twice about supplying alcohol at these events. Afterall, he thought, we're all responsible adults here. Unfortunately, that wasn't the case at one of the summer picnics the company sponsored.
One employee volunteered to bring a keg to the picnic, which my father didn't see a problem with. However, that same employee proceeded to drink heavily, and at the end of the party, she got behind the wheel of a car with her husband and step-daughter as passengers. Sometime along the way home, she dangerously tried to pass a line of cars, and sadly, had a head-on collision, killing her step-daughter.
The legal ramifications of this accident were long and arduous. For two years, the victims, including the employee and her relatives, placed blame on the company, and specifically my father. It was heartbreak enough for him to know someone lost her life, but to have his own family's home and savings threatened, as well as the company's reputation and its own financial survival in question was extremely difficult. In the end, the driver was found at fault, though the company did extend financial help to her and her family despite their ruinous efforts.
So the moral to this story: Be careful this holiday season. Holiday events don't have to be open bar. If your employees snicker at that thought of an "alcohol-free" event, just explain to them that your workplace substance abuse policy includes disallowing the use of alcoholic beverages at office social functions. The U.S. Department of Labor offers nine tips this holiday season to address the use of alcohol at office parties. Give them a read. They might help you decide how to handle the issue of serving alcohol at your event.
Have a safe holiday!
The Apprentice
The Apprentice - Week 13
Posted by Nadine Heintz at 10:04 AM
First of all, I'm really sorry about missing last week's episode. I assumed there wasn't going to be one on Thanksgiving, so I didn't tune in on Thursday or Saturday. I read NBC's recap, though, and saw the picture of Mosaic's crazy twisty bottle. Pretty lame! I also heard from a fellow Incer that Andy blew it by trying to form an alliance with Jen. Bad move, Andy! If anyone has anything to say about last week's episode, please do. I'd like to hear your thoughts.
As for last night's episode, I thought it was one of the most exciting ones in a long time. I loved how Jen and Sandy set their differences aside and transformed into the wonder twins. That was pure brilliance. Ever since the Donald flipped for the guys' matching bow ties during the ice cream challenge, it's been obvious that clever costumes are a big plus. And I really don't think Sandy and Jen went overboard. Last season, some ladies actually offered to kiss their customers. The wonder twins never crossed that line. Sure, they looked kind of cheesy, but they managed to sell the candy bars for $5 a pop while maintaining their dignity.
Granted, Ivana and her team didn't have much of a chance to beat those two at the sales game. But they could have, and should have, gained an advantage by producing more bars than the dynamic duo. They should have made at least 33 percent more, not just a few more. That was their first mistake. The second mistake was not coming up with a better sales gimmick. At the very least, they could have worn more colorful shirts and taken advantage of the Mars promotional van. They really didn't put much effort into it. The death knell rang when Kevin started to give up and decided to sell the bars for $1. I was really disappointed in him for doing that. Why would anyone buy a bar from Ivana for $2 when Kevin's selling them for half the price a few feet away?
One of the funniest parts of last night's episode is when that random passerby told Ivana that Sandy and Jen were selling their candy bars for $5 each. That was pretty hysterical when he said they weren't that great looking, but they seemed to be doing well with the candy. Haha. But the most bizarre moment of the entire season (and maybe last season, too) came when Ivana took her skirt off. That was really sad. Especially because she had to beg the guy to make her do it. He seemed kind of disturbed by the whole thing. And they said Stacie J was crazy?
The boardroom was rather interesting. I have to give credit to Ivana for staying loyal to Kevin, even if it was a bad business move. But I can't figure out why she would sacrifice herself for him. Maybe she just genuinely believed Kevin deserved the apprenticeship more than she did. Or perhaps there's a little romance between the two? That could explain it. Kevin, on the other hand, didn't waste much time before stabbing Ivana in the back. I know I said a couple of weeks ago that Kevin was one of my favorites because he seemed like a decent guy, but now I'm not so sure. And why did Ivana keep saying "look" even after Carolyn reprimanded her? She seemed really flustered.
Despite all the embarrassment and a bad performance in the boardroom, Ivana had a really graceful exit. I thought she seemed really upbeat in the taxi and had very gracious things to say about being on the show. Maria could learn a lesson or two from her. Now that it's getting down to the wire, the next couple of weeks are sure to be exciting. To be honest, I have no idea who's going to win. My guess is that it'll come down to Sandy and Kelly. I guess we'll find out on Dec. 16. Hopefully I can get an invite to the finale party again!
December 2, 2004
A Gross Abuse of 'Networking'
Posted by Keith Ferrazzi at 2:33 PM
Yes, yet another.
The front-and-center feature story of a recent WSJ Weekend Journal was entitled: "The Trophy Godparent: To get their kids an edge, some moms and dads are turning to A-list friends and acquaintances…"
As if the implications of choosing the spiritual guardian of your child on the basis of being "influential or wealthy, or at least in a position to give their child an edge," weren't bad enough, the practice is becoming so prevalent that some 'trophy godparents' are struggling to deal with overwhelming numbers of requests. The Journal rightly calls it an "offer some can't refuse" and tells of well-to-do people who have accepted up to two dozen of those offers!
First, there's nothing wrong with seeking to associate with people who are successful, powerful, intriguing, smart, etc., nor wanting to expose your children to such people. In fact, I encourage it. I consistently seek to fill my life first and foremost with the most interesting people possible, people who want to make a difference in this world. Also, it shouldn't be a surprise that I'm a proud godfather of two wonderful boys, yet it was based on their parents and me already having a deep, close personal relationship.
I had been emotionally present with the parents during the pregnancy, and they knew I'd take my role seriously as I continue to do. And if had a newborn child today, I suspect the godparents I'd choose would naturally be pretty interesting and perhaps influential, as many of my friends happen to be.
But when you're choosing godparents for a child, reaching out randomly for the top of the A-list and choosing someone for their usefulness to you should never be the FIRST move. If by the time you're expecting, they aren't already your dearest friends, then don't ask them. If you do, you'll only be signaling insincerity and shallowness. Making a godparent out of someone who's not already invested in you and your child isn't the way to business or career success anyway. However, if they're truly your friends, if they're the people you want giving your child the challenging, difficult, and perhaps contrarian advice that you might not offer as a parent (and probably taking the kid to Disneyland a few times), AND coincidentally, they're rich, powerful, and famous, then fine, go for it.
December 1, 2004
Drives: Stuck in the Middle With You
Posted by at 1:40 PM
I recently piloted the 2005 Chevy Equinox and the Cadillac Escalade ESV within a few weeks of each other and came to realize the reason the world needs middle management. Let's take the latter first, because it's big, bold and burled (in walnut inlay), an arrogant, aggressive, macho ride with "leadership" qualities, perfect for taking a spin to the nation's capital.
Cadillac Escalade (left); Chevy Equinox (right
The Escalade ESV more or less offers whatever you expect in a $63, 000 loaded vehicle (unless you expected heated and cooled cupholders, suede interior and 20-inch chrome wheels, in that case the Platinum Edition is the way to go.) The 345-hp V-8 Escalade hauls its 10-way seats, DVD player, 100 XM radio, Bose stereo, hands-free voice recognition, On Star, Bulgari clock and power everything and everywhere in smooth, roomy comfort. What can I say? The Escalade is a winner. It's muscular and strong and beloved by the muscular and strong, a la Shaq. It got six of us from NYC to DC in high-living, comfortable style, slurping up the petrol (13/17 mpg) as we went merrily, merrily, road-hogging all the way. The ESV -- especially the Platinum version -- is the unfiltered American id, with all the cocksure grandeur of Terrell Owens, Tom Cruise and Donald Rumsfeld.
The Chevy Equinox on the other hand, doesn't appear to offer much beyond its middling milquetoast "compact SUV" pedigree. Sure it gets the job done, meaning we were able to haul four people and a bunch of stuff, but in middling fashion. The 185hp V6 makes it prosaic, not dynamic, a tad tepid, the kind of car that's going to stand in the corner of the lot, waiting until someone calls on it rather than making its presence known. Granted, a horse-and-buggy or even a Chevy Chevette, would suffice when the roads less traveled twist along the empty, unencumbered, Gay Head cliffs of Martha's Vineyard during a stunning late September hurricane season reprise, so the Equinox served its purpose admirably. It's capable. It's middle management. It's also $22,700 for the standard model that has 69 cubic feet for cargo capacity and gets 19/25 mpg. And the Equinox handles smoothly and won't make waves, I mean one of its major selling points is the LATCH (Lower Anchors and Tethers for Children) system for toddler safety seats.
Are you an Escalade ESV or an Equinox type? Be honest. That's what I thought, but like the Stealers Wheel says, "Here I am stuck in the middle with you."
Inc. staff writer Patrick Sauer writes car reviews for Inc. magazine and regularly contributes more automotive insights on Inc.com.
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Diary of a Start-up
Diary of a Start-Up: Refocusing Efforts
Posted by Victoria Keddie at 12:15 PM
This is the fourth in an series of weblogs from one of the owners of redwagon, a business that makes and sells hand-crafted fashion accessories and clothing. Check back often for more from-the-trenches viewpoints on starting and building a business.
So here our company stands. Our partner in California has left due to geographical limitations and has started her own company sponsoring various designers, including Redwagon. It was definitely a sad parting, but the difficulties of maintaining a company where all but one are in the same city is a lot to manage.
As the holidays are approaching, we are making orders for some of the smaller boutiques and will be bringing out homemade earmuffs for the chilly winter season. Our jewelry line is improving with new quality materials pushing it into a higher-end costume genre. As our aesthetic is still for the fun and fancy free, we are making sure to balance the scales regarding our high quality status with materials that wont break the bank.
For the fall season, we somewhat lost focus, both financially and with our intended market. We chose all metallic leather skins, suede, and silk/satin for linings. Needless to say we were in over our heads, and without an industrial strength sewing machine, we had trouble in that end as well. Moving forward, we decided we like our metallic leather for our day to evening wear belts, but have nixed the pricey materials for bags and other attire, compensating with more animal friendly, pattern-printed materials. After all, we are not ready to invest in manufacturers at present and all have full-time jobs. We've learned to adjust both financially and in time management in effort to meet the demands of our accounts.
As the anniversary of Redwagon is approaching in the New Year, we are looking to do more business online. We are in the process of renewing our domain name and wondering if we should make the site more than an advertisement. Would Pay Pal and Web-based media/advertising be a more conducive way to both promote and stabilize sales revenue? Through using boutiques as way to promote and sell our merchandise, we are losing a significant portion of sales to consignment percentages. I find myself using the Web as a primary means of shopping, sourcing, etc., and would like to see the Redwagon website a more popular site for online shoppers. Afterall, that may be where most of our clientele is looking as well.
Read past diary entries: Making Sales, On the Road, Introducing Redwagon
Culture
Ken Jennings - The End of an Era
Posted by Nadine Heintz at 11:27 AM
Poor Ken Jennings. He finally went bust on Jeopardy last night, after answering final jeopardy incorrectly. The answer? Most of this firm's 70,000 seasonal white-collar employees work only four months a year. Ken said FedEx. Nancy Zerg, a real estate agent from Ventura, Calif., said H&R Block. She was right, he was wrong.
While I feel kind of bad for the sunny-faced Jennings, I'm sure he'll be just fine. That's because he'll always be a winner, even if he loses once in a while. Back in October, I wrote about Ken in How to Stay on a Winning Streak. What makes him such a winner is that he doesn't let mistakes get him down. That idea, which comes from a book called Confidence by Harvard's Rosabeth Moss Kanter, has really stuck with me. When trouble strikes, it's tempting to let the situation spiral out of control. The better idea is to have confidence that everything will turn out fine, just like Ken did every time he gave an incorrect question on Jeopardy, only to bounce back. I'm sure good old Ken isn't sitting at home in his underwear right now. He's probably on his way to his next triumph. You're the best, Ken!
Can You Take a Sick Day?
Posted by Carole Matthews at 10:05 AM
'Tis the season for flus, colds, bronchitis, and various other ailments. My "sick" season got off to a great start with my 5-month-old daughter coming down with a lower respiratory virus. After spending eight days nursing her back to health, I'm finally at my desk again for a full day's work.
It's not easy taking so much time off to tend to sick children, or even myself, but I'm not running the shop, so with or without me things do keep running. But what if I were a business owner? Would I have been schlepping my sick infant into work each day to ensure things were running smoothly? Or if I had been sick, would I have kept at it despite my miserableness? My guess is that I would have done far more than I should have.
What do you do when your sick? Do you feel like you can take a few unplanned days away from your company to take care of yourself or a sick child? Or is the pull of the office so much you continue working despite the clear need for you to "take a break"?
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