Douglas Castle 101: The Business Of Life

NEW BOOK

noreply@blogger.com (Douglas Castle) — Thu, 01 Nov 2018 05:06:00 +0000

https://ShatteredResistance.blogspot.com. New book of poetry offers insight into Bipolar illness. Available on Amazon either in paperback or in Kindle. Fabulous, timely poetic verse. Controversial and disturbing.

5 Things Which Can Destroy Any Early-Stage Venture

noreply@blogger.com (Douglas Castle) — Wed, 10 Jan 2018 03:35:00 +0000

There are five things (aside from the lack of adequate capitalization) which can [and will] destroy any early-stage venture, and I think it useful to cite them here:

1) A constant, persistent state and mindset of crisis management instead of organized planning and execution;

2) Micromanagement of all functions, emanating from the top down - an utter failure to delegate any responsibility;

3) A complete concentration of ultimate power in any one individual for all business decisions, with no checks, balances, offsets or process for appeals;

4) A complete reliance upon legal counsel to review and ultimately make all business decisions; and,

5) A failure to act in furtherance of decisions and good-faith promises already made.

If you are invited to work for a nascent enterprise which exhibits any of these characteristics, it is probably best to decline the invitation in the interest of keeping your samity intact and to allow yourself the freedom to pursue other potential opportunities which are not similarly doomed to failure.

I could have written an elaborate and verbose essay about these "things", but thought that I would be more effective if I just rolled them out in a direct, bulletized format. I hope that I have succeeded.

Thank you, as always, for reading me. - Douglas Castle

4 Key Geopolitical Trends For 2018 - Be Aware

noreply@blogger.com (Douglas Castle) — Sat, 30 Dec 2017 03:13:00 +0000

The following information was reproduced from a newsletter emailed to me from Stratfor WORLDVIEW (an excellent publication, which I highly recommend). I feel strongly that this information is critical to be studied as we rapidly approach the new year. While I am inclined to agree with most of what is set forth in the way of prognostication here, I do not certify the accuracy of the information as presented. I am also pleased to point out that bitcoin and cryptocurrencies are not the "hot feature" of this piece of writing. - Douglas Castle

“SORRY” Has Become A Four-Letter Word

noreply@blogger.com (Douglas Castle) — Sun, 17 Dec 2017 15:03:00 +0000

“SORRY” Has Become A Four-Letter Word

A profound and prolific apology after a colossal foul-up or political disaster has become an actual perfunctory insult to the offended or wronged parties. It sounds insincere, feels weak and needy, invites other questions (and other concessions) and makes you look foolish. No one says this better than author and success coach, Oren Klaff of “Pitch Anything”. The idea is to just work right past the error or gaffe and move forward, selling more strongly than ever. The text that follows comes from an email sent to me in 2016 (but it's still timely!) by Oren [I've left all of his grammatical and syntax errors intact, for which I make no apologies, and I've left his not-altogether-too-subtle sales pitches for his products as they appeared in the original text. Oren has some wonderful ideas and insights, except he desperately needs a proofreader... perhaps someone from Fiverr...]:

“Funny things pop out of my mouth from time to time. No preparation. No planning. It just happens. For example, a few weeks ago during a presentation to a group of financial analysts I said, “Guys, I
can’t sugar coat this for you ... I’m not #@%! WILLY WONKA.”

Although, I thought that was HILARIOUS at the time ... no one laughed. There was just some
uncomfortable coughing and a few chairs shuffled.

My first reaction was to apologize, so my mind starting forming the words,“ ... uhh, sorry about
that ..."

But my training kicked in, and I told myself: Keep moving forward, don’t explain yourself, do not act ‘needy’ or seek validation.

Ok, sure, I know that apologizing is necessary when we’ve clearly hurt someone else, violated a rule, or done something we know to be wrong. And saying sorry is a necessary step in some situations to repair the social fabric that keeps us connected to other people.

But in business, a gushing apology can be exactly the wrong move.

For example, WE ALL want to keep our clients happy, so it can be tempting to say “sorry” for things that get off track —
- but It’s important to recognize that apologizing unnecessarily can actually undercut your professionalism by displaying neediness and diminishing others’ confidence in you.

It reminds me of the other day when a CEO called and asked if he could see me. He had a serious problem, so we booked a meeting.

That’s how every week starts for me. Like an episode of SUITS, at 9am Monday, some kind of trouble walks through the door and I have 24 hours to save the client’s company or The Senior Partners Will Be Very Mad.

This client shuffled his way into my waiting room, downcast and dejected.

His shoulders slumped. He was in big trouble. When a guy looks like that, it’s either a woman problem or a money problem and given my track record, people usually don’t want my advice on women.

He told me what had happened at his company. His servers had crashed during a live event. Customers lost money.

“I have to go on the road and give my largest customers a personal apology,” he said, “or I’m going to lose a lot of business.”

“Tell me what you plan to say,” I said. ”Let me hear your pitch.”

And then came the El Niño of Bad Ideas:

He was going to apologize for a flaw that made the servers crash;
He was going to give discounts; and refunds.
And he planned to use the history of his relationship with the client, like Sal Tessio in The Godfather.
Sal Tessio: Can you get me off the hook, Tom? For old times' sake?
Tom Hagen: [shakes his head] Can't do it, Sally.
[Tom watches sadly as Sal is led to a waiting car]

Obviously, Sal was killed in that scene; as my client would get killed if he pleaded for forgiveness.
So, when he was done pouring his heart out, I poured him a cup of something strong and let him sip it slowly, preparing him for what I would say next:

There will be No Discounts. No Refunds. No Sob Story. “In fact,” I said, “you’re going to visit the customers, give them ONE quick and sincere ‘sorry’ and then upsell them to a higher level of service.”

His eyes opened wide.

I told him, when you highlight and dwell your own mistakes you trigger theRecency Effect — the
tendency to blow things that have just happened out of proportion.
In the business world, apologies, explanations, not to mention sappy pleas for mercy do nothing but stir up emotions and anger. My client needed to focus on the future.

First, I told this this CEO to read my book, PITCH ANYTHING. On page 157 I show that offering discounts and acting needy will actually harm a business relationship more than it helps.

Look, even your toughest clients will agree, the past is a done deal. It’s gone. Dust. They will accept that now is the time to turn over the Etch-a-Sketch and give it shake, wipe the slate clean.

Why You Should Only Give a Single Brief Word of Sorry After a High-Profile Mistake

No matter how sincere, your mea culpas can come off sounding empty. Only by taking the right action can you repair your broken reputation.

Consider for a moment, what do Charlie Sheen, Anthony Weiner and Tiger Woods all have in common?

They all apologized right after a major personal crisis.

I believe, in the US, this type of apology has become so cliché, it's lost all its credibility, because In short, we don't buy post-crises apologies anymore.

Here’s my four-point plan for cleaning up after any mistake:

1. Write a one-paragraph Big Idea nods to the mistake, but talks about the future. Then memorize it. Here’s an example:

Today’s servers are the most complex devices man has ever invented. They move terabytes of data in microseconds, and we humans have come to rely on them. Or perhaps the word is OVERRELY, for they are machines and they can fail. In fact, these failures are a right-of-passage for any fast growing company, letting them know, it’s time to upgrade, improve and invest in more infrastructure than ever before ...

2. No one expects you to be perfect. Accurately describe what new systems or procedures you're installing as soon as possible and sell the client that new level of service.

3. Pitch the client like you would a new account. Don’t count on their goodwill, just their desire to buy great service at a fair price from a good company. Give a CLEAR description your new improved level of service. If you need best pitch your industry has ever seen, jump over to Pitch Mastery, I’ll make sure you get it done.

4. Get professional help. If you find yourself in a “situation” where you’ve really messed up and first three steps above aren't enough to tamp-down the crisis, enlist the support of a credible third-party professional who knows how to build a script to handle this kind of situation. The president has a script writer, so do Fortune 500 CEO’s and franchise athletes ... you’re no less important and you should have one too.

Whatever you do, best not expect a gushing apology to work. We live in a jaded, cynical society that has had its fill of sketchy executives, politicians, celebrities and athletes. So truly, a modern crisis means never having to say you're sorry. It means MORE than that: fixing your act, communicating the fixes as they're done and then quickly reestablishing your reputation.

Don’t wait to learn how to handle yourself until you’re in a tight situation. If you haven’t already, buy PITCH ANYTHING now. And do sign up for a free trial of Pitch Mastery.

Forward this email to anyone you think might benefit from it, so they can get on our mailing list.

I have to run, another client just walked in the door, he’s wearing thick glasses and has a large computer. I’m not sure what the problem is here, but I'll bet it's hard to pronounce.

See you next week when I cover the right way to start off any presentation (things I learned the hard way).

-Oren”

=> The Takeaway: Don't apologize unless you've truly hurt someone personally, lest you appear weak and incompetent. Take a lesson from the universally disliked (but desperately envied and admired) Donald Trump. Don't get caught in the quicksand of an apology. Don't make it into an issue. Don't spend time falling into the trap of back peddling.

Thank you, as always, for reading me. - Douglas Castle

NO NEWS IS BAD NEWS - Leadership Requires Communication!

noreply@blogger.com (Douglas Castle) — Sun, 10 Dec 2017 00:35:00 +0000

NO NEWS IS BAD NEWS

In Silence, People Tend To Think The Worst

In Management And Leadership, Frequent Communication Is Essential

During prolonged periods of silence, people are left to wonder; that wondering leads to visualization of negative possibilities and potentials (generally speaking, and in accord with the basic insecurities of Human Beings). The longer and more absolute the silence, the more these negative thoughts tend to propagate. If you are a leader, manager or commander and you are silent, any one or several of the following assumptions will likely be made regarding your lack of communication – ironically, your lack of communication speaks volumes:

~ You are overwhelmed by your workload, and you are not competent to handle the enormous responsibilities of leadership;

~ You are either ignoring your responsibilities and/or are searching for another role to play in another organization;

~ You have received devastatingly negative news that you are afraid to confront or announce;

~ You are disappointed in the work being performed by your subordinates, and you are either too disgusted with them to communicate with them or you are passively/aggressively punishing those guilty parties by depriving them of your attention;

~ You have lost your impetus and momentum as a driver, and are not accomplishing anything – therefore, you've nothing about which to converse.

Any of the above suppositions, all of which are common in cases of a lack of top-down communication, are bad for your personal brand, effectiveness, and relationship with your troops (or employees). You will be rendered less of a standard-bearer and more of a bag of ballast – and those who report to you will think 1) that the ship may be sinking on your watch, or 2) that they are failing you significantly enough to be rendered unworthy of your attention.

Communication, powerful and frequent, is one of the hallmarks of a truly good leader. Those whom you are charged with the responsibility of leading must know your status as well as their own in order for the enterprise not to fall prey to the ever-disabling rumor mill. Good leadership requires good communication skills as well as charisma and all of the other personality and management-style attributes I've discussed so many times before in other posts and articles.

If you need a quick reminder (in the style of the late lawyer Johnny Cochran), “If you don't converse, things will get worse.”

Whether the news is good or bad – don't ever let your troops, employees or teammates think that you are a cagey introvert (although you may well be one) or an escapist. Intensely introspective, quiet personalities may make for fine actuaries, but they generally make for poor leaders.

Thank you, as always, for reading me. - Douglas Castle

Some Tags, Labels, Keywords, Search Terms And Categories For This Article:

leadership, communication, introversion, extroversion, management style, morale, industrial psychology, leadership qualities, news, transparency, personal brand, Douglas Castle.

Funding Startups Through Joint Ventures

noreply@blogger.com (Douglas Castle) — Fri, 01 Dec 2017 11:24:00 +0000

Funding Startups Through Joint Ventures

Why It Might Be Smart To Form A Partnership With An Established Business

Entrepreneurs with brand-new pre-revenue companies, developmental-stage enterprises (DSEs) and fledgling companies having won their first client contracts are, generally speaking, desperately in need of capital. And, generally speaking, most funding sources shy away from companies with limited operating histories and limited tangible collateral assets. Yet these intrepid (but naive) newcomers insist on shopping the capital markets in search of either an investor or lender who will make them the “special exception” and grant them free rein and total discretion with a pile of money. Shopping in this marketplace is all too often a waste of time.

A more viable alternative for any one of these entities in need of cash might be to form a joint venture with an established and synergistic (or complementary) company. Not only do some of these existing companies have capital and credit lines of their own, but in many cases their management teams [at the senior level] have business acumen, contacts and other non-financial resources that can be leveraged by their younger counterpart in the joint venture relationship.

The key, of course, is in finding the right joint venture partner. In order to insure a productive, long-lasting (and non-traumatizing), entrepreneurs might give serious thought to utilizing the services of an outside management consulting firm or agency to facilitate the matchmaking process and to advise and assist in negotiating terms. In the immediate term, this may cost a bit of money, but in the near-term and the longer term, engaging the services of an independent third-party professional firm may save you the costs of a meandering, time-consuming, trial-and-error process.

Give some sincere thought to either financing your startup though a joint venture, or, if you are a well-established organization, to seeking out fresh, new co-venturing and licensing opportunities through an impartial, experienced consultant. In a well-crafted joint venture, all parties win.

If you have questions or thoughts regarding this brief article, please contact me via email at douglas.castle@yahoo.com .

As always, thank you for reading me. - Douglas Castle

Tags, Labels And Key Terms For This Article:

startups, joint ventures, funding, finance, venture capital, credit, incubators, accelerators, Douglas Castle, entrepreneur,

Leadership: Delegate Or Die!

noreply@blogger.com (Douglas Castle) — Sun, 26 Nov 2017 16:57:00 +0000

Leadership: Delegate Or Die

One Of the Most Important Responsibilities Of A Leader Is To Delegate Responsibility

By: Douglas Castle

To be a leader and to maintain a position of leadership, you must be a competent and efficient delegator. By the act of delegating, you are not reliquishing control – you are actually expanding the realm and scope of your control. The larger the responsibilities and the larger the organization, the more proficient you must be at delegation.

In the military, “delegation” is defined as the action by which a commander assigns part of his or her authority commensurate with the assigned task to a subordinate commander. While ultimate responsibility cannot be relinquished, delegation of authority carries with it the imposition of a measure of responsibility. The extent of the authority delegated must be clearly stated.

Your success at delegation will determine the strength and length of your reign as a leader and commander. The most significant insights and skills which are required in successful delegation are listed below. They are worth studying:

=> If you are obsessive-compulsive by your nature, do all that you can to rationally counterbalance this dangerous impediment to effective delegation. You cannot micromanage and be a leader. You cannot be the servant of your subordinates because you are insistent about things being done exactly as you would have them done;

=> You must constantly keep the big picture and the broader focus in mind. If you are a perfectionist and overly detail-oriented, you will never be able to attain your organizational objectives while mired in minutiae [this is a sophisticated alliteration -- wouldn't you agree?];

=> Understand all of your responsibilities, and itemize or componentize each of them. You'll find that each individual component can be delegated (as it must) to someone in your organization whom you can select. If the right individual is not among your inventory of Human Assets, then you must either replace some of your people, or your must acquire some new members with the requisite skill sets. The objective is to export as many of your responsibilities as possible, while retaining the central responsibility of organizational stewardship, oversight and goal attainment;

=> When you delegate responsibility for the accomplishment of a task or function, also remember to grant the requisite authority and to impose the necessary accountability upon the person to whom you've charged with the job. Responsibility without authority is a recipe for managerial impotence and non-performance. Responsibility without accountability is a recipe for waste, abuse and failure;

=> Since you, as a leader, are ultimately responsible for the successful and efficient attainment of your organization's most important goals, you must constantly monitor the performance of those to whom you've delegated, without being drawn in to correcting their mistakes yourself. Observe, measure, suggest, monitor and determine whether the subject task has been assigned to the right individual; sometimes a change may be warranted.

=> Where you observe leadership potential in some of those persons to whom you've delegated tasks, you may find it wise to increase their roster or responsibilities, but to also grant them greater authority to sub-delegate to others who are subordinate to them. Remember that the greatest leaders know how to identify and cultivate leadership within their organizations. Be aggressive and bold about identifying and leveraging the leadership talents of other leaders wihin your organization. Encourage leadership and acceptance of increased responsibility. Reward it and give it appropriate recognition. Empowering other leaders liberates you to be a greater leader yourself.

=> As you develop leaders and assign them to their respective specialty areas (not unlike fiefdoms within a kingdom), clearly identify where each one's territory begins and ends. Clearly define their responsibilities with minimal overlap. Keep your subordinate leaders separated from each other (unless you are present and orchestrating or conducting a meeting or hearing reports) – fiefdoms should not compete, but neither should their feudal lords unite, lest they undermine the king's leadership. In brief, don't permit your subordinates to take you over. Delegate, but do so without ever permitting your absolute command from being undermined. Keep your emerging leaders separated from each other, and even instill a competitive spirit amongst them to 'fight' for your approval.

The Take-Away: To expand the scope of your control, power and productivity, you must learn to delegate. Also, another important skill (but not the subject of this article) is the recruitment and mentoring of talent for the accelerated expansion of your corporate or military kingdom.

As always, thank you for reading me.

- Douglas Castle

Labels, Tags, Keywords, Categories And Search Terms For This Article:

Douglas Castle, leadership, management, delegation, responsibility, authority, taking command, grooming leaders, accountability, business, career advancement, self-promotion, personal power, organization.

Managing The Virtual Enterprise

noreply@blogger.com (Douglas Castle) — Mon, 20 Nov 2017 13:28:00 +0000

Managing The Virtual Business Enterprise

Being A Virtual Virtuoso

Managing Employees And Contractors Over Space And Time

The Unique Interpersonal Skills Required Of A Team Leader Or Project Manager Who Works Virtually

An aerial view of a virtual employee, stock photo style, which employee who could easily win the intergalactic prize for the neatest, most stereotypical and technologically incongruous desk of all time. [There - I’ve actually said it and we all feel better!]

Introduction

With virtual enterprises being on the rise, the issue of how to direct and coordinate the efforts of a group of people working remotely is crucial. Certain management directives, as well as the deployment of certain technology will be essential to the success of the virtual enterprise. This article breaks this topic into two sections, one being “Communications Protocol” and the other being “Useful Technologies”. The bold assumptions here are that the enterprise at issue is completely virtual, that employees or contractors working from home offices each have a specific area of responsibility and corresponding accountability (and are fully aware of what is expected of them), and that it is your role, gentle reader, to manage their work efforts and their ultimate work product.

In the growing world of the virtual organization, the best natural or trained communicators and charismatic commanders will rise to the top as successes, whereas the more technically-oriented individuals taking the narrower view of business, i.e., those who manage processes and projects instead of managing people, will tend to lag behind in their ability to bring out the best in the employees and contractors as a group.

Communications Protocol

Contact every employee or contractor at least once daily via telephone or Skype -- preferably via Skype due to its video feature, and simply inquire as to: A) what that individual is working on, B) does he or she require assistance or additional resources, C) whether or not he or she been in communication with any of the other team members, D) what his or her expectation is in terms of meeting his or her budget and performance deadlines, E) whether you might just have a look (either via email, screenshare or through collaboration tools) at what he or she has produced so far.

Hold a weekly meeting of all employees and contractors in order to build the sensation of team, to allow for intelligence-sharing and brainstorming and to encourage open communications amongst all members of the group.

Schedule meetings, as necessary, via telephone or Skype [Skype video is much better than mere telephone conversation because you have the additional dimension of body language to enhance the efficacy of interaction], with twosomes or other small groups of employees and contractors who may have dependent or overlapping responsibilities, or who may be at odds with each other for any number of reasons.

Communication should be frequent (short bursts), intensive and highly-focused. As the manager or project coordinator, you must also keep the entire team apprised of any changes in budgeted resources, expected timeframes, engagement scope, and the like. You must monitor their performance with great vigilance and you must foster a spirit of “team” and of “teammates”. You are the conductor of an orchestra with remote instrumentalists… and you are responsible not only for getting the best performance out of each virtuoso, but you must get the best performance out of the entire virtual orchestra, which requires providing frequent feedback and input.

Useful Technologies

Aside from the telephone and Skype, the following are all helpful collaboration, communication and cooperation tools which can be used by the manager to keep the virtual business tightly together and performing as a whole. Google has a suite of tools which are almost “made to order” for virtual teams needing to accomplish great and meaningful things.

GOOGLE DOCS - A great tool for sharing documents and for the cooperative authorship of documents such as reports, plans, etcetera. Certainly far more efficient than sending documents back and forth to groups of people as attachments to email correspondence. This is one of my favorites.

VIBER - A smartphone application which allows free international voice calling.

ALL OF THE OTHERS - A host of other contemporary (as of the date of this writing) tools is available to supplement the above. These are discussed in some detail in an article recently published by Time Doctor™. Just click on the link below for a wealth of information on these gizmos and gadgets:

https://biz30.timedoctor.com/online-collaboration-tools/

Some Other Thoughts Regarding This Topic

If your team is international, or if time zones may be an issue (even between New York and California), give very careful consideration to the times at which you contact individuals and arrange group meetings. For group meetings you might want to shift the weekly scheduled time (after giving very ample notice to all of your employees and contractors) to accommodate different people in different geographies.

Use as many visual aids as possible to be clear and effective over time and distance.

Be rapidly responsive when employees and contractors contact you; this might mean working an extended schedule to get the job done right.

Don’t ever forget to offer praise and encouragement (and don’t be robotic - your team members will be more responsive to a Human than to a cheap science-fiction cyborg or automaton) -- these are part of sound management.

As the manager of your virtual team, you are expected to A) know how to use each of the best collaboration tools, and B) to be ready, willing and able to remotely train your employees and contractors in the use of each of them. Waxing philosophical for a brief moment, in this life you must be a great student and a great teacher in order to truly be successful.

Lastly, remember that while a modicum of patience is critical in managing people, too much patience and empathy can make for poor leadership. And you can be certain that managing a virtual team requires emotional intelligence and people skills well beyond those required to manage a real-time, physically-grounded enterprise.

Thank you, as always, for reading me. - Douglas Castle

4IR: The Fourth Industrial Revolution Is Here.

noreply@blogger.com (Douglas Castle) — Tue, 14 Nov 2017 01:30:00 +0000

4IR: The Fourth Industrial Revolution Is Here

What Is It?

How Does One Prepare For It?

Are You Prepared For It?

Is it just me, or does this remind you just a bit of the movie “ET”?

The Fourth Industrial Revolution, or 4IR (it has become very hip to speak in alphanumeric acronyms, although this is quite exclusionist, and creates communication problems between heterogeneous groups engaged in either conversation or combat…), is the fourth major industrial era since the initial Industrial Revolution of the 18th century.

The Fourth Industrial Revolution, which is upon us right now (OMG!) has been described by some self-professed and oftimes pompous multidisciplinary pundits as a “range of new technologies that are fusing the physical, digital and biological worlds, and impacting all disciplines, economies and industries.” Klaus Schwab, noteworthy Founder of the World Economic Forum, has associated it with the "second machine age" in terms of the effects of digitization and AI (“artificial intelligence”) on the economy, but added a broader role for advances in biological technologies.

Schwab sees as part of this revolution "emerging technology breakthroughs" in fields such as artificial intelligence, robotics, the Internet of Things (IoT), autonomous vehicles (accident-free driving, until driving automation systems are hacked, after which I can sense a bumper car jamboree!), 3D printing, quantum computing and nanotechnology. Schwab, in all of his wisdom, has neglected to include machine learning (different from AI) and stem cell technologies in his assessment and definition.

How do we prepare for this wave that is washing over us? I believe that the answer is in doing as much research and reading on every top news topic (the serious ones, and not the ones about celebrity misconduct or “discoveries” from the front pages of tabloids) that emerges. Education has now become our primary survival tool. It is a manual and arduous process (which is oddly ironic, especially in this age of automation and instantaneity), but it is what is required.

Lamentably, this revolution is going to open a wider gap between the few super-wealthy elites and the ever-growing ranks of the working poor. This situation, if it continues could actually foment a Fifth Industrial Revolution (i.e., 5IR) which could either lead to the end of history (in the most adverse sense of the expression), or to a frightening new form of total slavery, such as the world has never witnessed. I hope that I am proven wrong.

Thank you, as always, for reading me. - Douglas

Expectation Management: Crucial To Your Survival!

noreply@blogger.com (Douglas Castle) — Wed, 08 Nov 2017 00:37:00 +0000

Expectation Management: Crucial To Your Survival

*If You Fail To Successfully Manage Expectations, You’ll Lose Your Business, Your Career And Your Friends

*Expectation Management Requires Clear And Frequent Communication

*It’s Very Difficult To Restore Trust, Once It Has Been Violated

Most people don’t really enjoy most types of surprises. We live, and plan our lives, upon certain expectations; they provide a modicum of stability in a changing, too often chaotic world. When these expectations turn out to fall short of the ultimate reality we experience, we get angry. That is, for better or for worse, Human Nature.

We are conflicted and caught between two cliches: One of them is “Always under-promise and over-deliver”. The other is (and I’m laughing while I write this) “It’s far better to beg forgiveness than to ask permission”. The first one is applicable in all but a few unusual and desperate circumstances.

In expectation management, the idea is to set realistic, achievable goals and to communicate through the entire step-by-step process with your customer or client. If a process step is going more slowly than expected, get in front of it and advise your customer or client of the anticipated delay -- and explain the reasons for it. Be candid - people will appreciate and respect you for it; you might not make them happy, but they won’t come running after you with a blowgun and a quiver of poison darts, either.

When you are going to have a prospect sign a contract, never, ever, just send it to him ‘cold’. He’s liable to misunderstand it, or suffer ‘sticker shock’ and reject your offer (no matter how generous it might be) because it was sprung upon him to suddenly. The general rule here is to discuss beforehand with the customer or client what he can expect to see in the contract -- this gives you an opportunity to break it all down into small pieces and explain it thoroughly. It’s easier to digest small pieces than to eat the whole moose in one go. And if your customer or client raises objections to certain parts, you can deal with each one of them conversationally, instead of in the heat of your customer’s or client’s consternation and anger.

In particular, people are intimidated by what they see in writing, but not as much by what they hear conversationally… especially if there is casual, spontaneous give and take. Disarm the written bomb (people view written agreements as if they were grand jury subpoenas, or draft notices) with conversation to satisfy expectation. The recipients of these mighty missives expect trickery and shenanigans. Their fears must be allayed in advance.

Nothing is better than speaking with a customer or client to whom you’ve just handed a written agreement and saying, “Here it is, exactly as we had discussed. Would you like to go over it again briefly, paragraph by paragraph?”

If you’ve done a masterful preparatory job, the customer or client might just say, “No. Let’s just sign this thing. I’m tired of talking about it. Let’s do it.”

As always, thank you for reading me. - Douglas

Remote Working: Here To Stay!

noreply@blogger.com (Douglas Castle) — Fri, 03 Nov 2017 19:59:00 +0000

REMOTE WORKING: HERE TO STAY

“Telecommutation is still sweeping the nation.” - Douglas Castle

I recently noted a discussion on LinkedIn regarding IBM’s move to minimize remote working and to call its employees, from near and far, back to the office. This was what I read:

Why remote working will die.

IBM's recent move to call its remote workers back into the office has thrown into question whether telecommuting is more or less productive than being at one's desk. Studies on the topic have come out mixed but the Atlantic argues that with fast-paced technological change, and the complex problems that arise from it, workers may increasingly be chained to their desks • What are your thoughts on working from home? Join the conversation.

---------------

Nope. It’ll survive and thrive. Sorry Folks.

I beg to differ. The following factors will virtually [no pun intended here] ensure the survival (and even the expansion!) of remote working in the industrialized nations, and in particular, the United States, from which I am currently (remotely, via telecommute) working:

The rise and growth of the Gig Economy. Many displaced employees and solopreneurs have become members of the ever-expanding Gig Economy, where an individual sells a specialized service (usually at a relatively low price per unit of service) via internet to clients (usually other individuals, entrepreneurs or small businesses). Platforms such as UpWork and Fiverr provide a medium for matching up providers and demanders of ‘job work’ of all different types.

The increase in the retention of independent contractors by employers, in lieu of traditional full-time hiring. Employers are trying to limit their exposure and expense associated with taxes and providing insurance benefits for regular employees. This has led to an increase in the hiring of independent contractors and more courageous forays into the Gig Economy for employers. It has also increased outsourcing and offshoring activity.

The Globalization of business - the prevalence of international business relationships even amongst small to medium-sized businesses. An increasing percentage of business communications are taking place via Skype, WhatsApp, Viber, FaceTime and other remote media. And business is being conducted at all hours of the night and morning for many firms and individuals.

Time efficiencies. Commutation to a physical location may cost several otherwise productive hours out of the day. Telecommuting (i.e., remote working) eliminates that wasted time and makes it available for productive use, or for valuable time with families in an overworked culture.

Technological innovations. Holographic projections, anyone? As technology improves and provides ever-better means of communicating over distances, remote work will become more efficient and a great deal more effective.

While it is indeed true that there are greater opportunities for synergy, breakthroughs, interpersonal connection (i.e., body language, nonverbal communication) and spontaneity when people work together on-site, the factors in favor of remote working greatly outweigh the factors weighing against it. And you can expect the trend and tendency to continue.

And here is an interesting Google return for the search on Remote Working Statistics 2017. [CLICK ME]

Thank you, as always, for reading me. - Douglas

Cybersecurity Update: Dangerous Technological Dependencies

noreply@blogger.com (Douglas Castle) — Wed, 25 Oct 2017 18:44:00 +0000

UPDATE: CYBER THREATS AND CYBERSECURITY

“Into the breach we must go!” - Douglas Castle

“This ain’t no party/ This ain’t no disco…” - from Life During Wartime by The Talking Heads

In terms of data breaches, identity theft, computer-originated financial fraud, ransomware, viruses, trojan horses and backdoor invasions (and commandeering of systems), I believe that no one and no organization is truly safe or exempt. No matter how much we, as the public, hear about breaches and their purported impact, there is a whole alternate universe of companies who have experienced breaches that they are not forthcoming enough to disclose.

The more dependent we as a society become on computers, devices, the cloud and other dangerous dependencies (I’m a bit of a Luddite and a technophobe myself), the more we are at risk of loss. It seems that there is a definite tradeoff here: convenience versus security. And more and more, the default choice is convenience as technology becomes further ingrained into our collective psyche and into our day-to-day operations in virtually every aspect of our existence.

Short of eliminating the use of these magical methodologies, we should take steps to temper our activities with a modicum of caution. Here are a few suggestions, coming from my alternate life as a Global Futurist . Some are practical, while others involve an element of behavior modification and wishful thinking:

Print out and store documents and critical information in hard copy form to the greatest extent possible. If your drive becomes wiped or the information becomes infected or compromised, you’ll have your important records secure;

Increase your percentage of Human-To-Human communications and transactions. Personalize, Recognize and Humanize;

For computer and data security, use the most effective anti-virus, anti-malware, anti-hacker attempt (yep. That’s a real feature) software, downloaded or otherwise obtained from a highly-trusted source;

Don’t share your screen or documents (i.e., Google Docs, etc.) with anyone, if you can avoid it;

Keep passcodes and other access information off of your computer, and on a separate manual record. Keep that record well-hidden, but accessible to you. Keep it under lock and key, but don’t bother using a computer-activated lock -- that would defeat the whole purpose;

I’m also a big fan of multiple biometric device security in combination with ever-changing, encrypted passwords or “sayings of the day”-type passwords to make direct access to your machine or device extremely difficult in a full frontal attempt to breach your system security. As you’d guess, I’m highly paranoid with respect to the cloud -- I believe that what goes up, will come down -- but it might come down to someone else’s system. I have sweating, shaking nightmares about the cloud being hacked, or satellites being hacked, or public utilities being hacked…

The problem of vulnerability grows as we enter, head first, into the Era Of Complacent And Complete CyberDomination, where the inventions which were supposed to make our lives simpler and safer are now rapidly and quietly becoming our lives' masters. Laziness makes for a lack of vigilance.

Let’s truly make November “Computer Security Month”. Now let’s look at what the pundits have to say, for a full-blown Halloween scare-a-thon.

Oh, and thank you, as always, for reading me. - Douglas

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Let’s start with some frightening statistics and projections from 2017 to up to five years hence. This information was excerpted from CSO Online...

“These top level numbers summarize the cybersecurity industry over the past year and indicate what's in store for the next five years.

1. Cyber crime damage costs to hit $6 trillion annually by 2021. It all begins and ends with cyber crime. Without it, there's nothing to cyber-defend. The cybersecurity community and major media have largely concurred on the prediction that cyber crime damages will cost the world $6 trillion annually by 2021, up from $3 trillion just a year ago. This represents the greatest transfer of economic wealth in history, risks the incentives for innovation and investment, and will be more profitable than the global trade of all major illegal drugs combined.

2. Cybersecurity spending to exceed $1 trillion from 2017 to 2021. The rising tide of cyber crime has pushed information security (a subset of cybersecurity) spending to more than $86.4 billion in 2017, according to Gartner. That doesn't include an accounting of Internet of Things (IoT), Industrial IoT, and Industrial Control Systems (ICS) security, automotive security, and other cybersecurity categories. Global spending on cybersecurity products and services are predicted to exceed $1 trillion over the next five years, from 2017 to 2021.

3. Cyber crime will more than triple the number of unfilled cybersecurity jobs, which is predicted to reach 3.5 million by 2021. Every IT position is also a cybersecurity position now. Every IT worker, every technology worker, needs to be involved with protecting and defending apps, data, devices, infrastructure and people. The cybersecurity workforce shortage is even worse than what the jobs numbers suggest. As a result, the cybersecurity unemployment rate has dropped to zero percent.

4. Human attack surface to reach 6 billion people by 2022. As the world goes digital, humans have moved ahead of machines as the top target for cyber criminals. There are 3.8 billion internet users in 2017 (51 percent of the world’s population of 7 billion), up from 2 billion in 2015. Cybersecurity Ventures predicts there will be 6 billion internet users by 2022 (75 percent of the projected world population of 8 billion) — and more than 7.5 billion internet users by 2030 (90 percent of the projected world population of 8.5 million, 6 years of age and older). The hackers smell blood now, not silicon.

5. Global ransomware damage costs are predicted to exceed $5 billion in 2017. That's up from $325 million in 2015—a 15X increase in two years, and expected to worsen. Ransomware attacks on healthcare organizations—the No. 1 cyber-attacked industry—will quadruple by 2020. Cybersecurity Ventures predicts that a business will fall victim to a ransomware attack every 14 seconds by 2019.

What does it all mean? In 2015, Ginni Rometty, IBM's chairman, president and CEO, said, "Cyber crime is the greatest threat to every company in the world."

And she was right. During the next five years, cybercrime might become the greatest threat to every person, place and thing in the world.”

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October 13, 2017 - Excerpted From American Express OPEN FORUM

October is National Cyber Security Awareness Month

While the annual campaign is designed to raise awareness about cybersecurity breaches, as a business owner you're probably well aware of the growing threat.

The mounting number of company computer and data system breaches illustrates that it's no longer a question of if your company's sensitive data will be hacked, but when. Data analytics researcher Juniper Research predicts that data breach costs will reach $2.1 trillion throughout the world by 2019.

“It's important to realize that your company is at risk, which makes vigilance critical," says Gary S. Miliefsky, executive producer of Cyber Defense Magazine. “Many owners of small to medium-sized businesses don't think they're targets of hackers or cyber crime, but the fact is that most breaches are smaller now. To stay under the radar of the FBI and Secret Service, cyber criminals steal a small number of records, monetize those records and then hit again."

“This 'Wild West' phase of learning to anticipate and work against cyber threats goes deeper than surviving a breach and picking up the pieces afterwards," says Rob Arnold, founder and CEO of the cyber risk management company Threat Sketch and author of Cybersecurity: A Business Solution

“History is repeating itself," Arnold continues. “The future will play out just like it has with the advent of the internet. Businesses that embraced technology at a strategic level left their brick-and-mortar peers in the dust. In the same respect, those companies that learn to effectively manage cybersecurity threats will be the ones that are still in business 25 years from now."

New Cybersecurity Features

In order to thrive amidst the perpetual threat of cyberattacks, it helps to familiarize yourself with the latest arsenal of cybersecurity prevention tools available. Consider possibly incorporating the following new innovations into your company:

Automatic Classification of Cybersecurity Threats

“The problem in cybersecurity today is not a lack of tools," says Avi Chesla, CEO of the cybersecurity company empow

. “The question is how to 'read' the huge amount of data these tools generate and to understand the potential impact, such as a malicious attacker's intent."

A hack often starts with a spear-phishing attack where an employee clicks a link or opens an attachment in an email that appears to come from someone they trust.

—Gary S. Miliefsky, executive producer, Cyber Defense Magazine

According to Chesla, there are new cybersecurity capabilities that use Natural Language Processing algorithms. These collect and interpret system information and classify that information by intent. Knowing intent helps companies proactively respond to advanced threats.

Intelligent Cyber Threat Hunting

“With system breaches becoming more common, it's more important than ever for cybersecurity systems to have the capability to hunt and locate compromised hosts within systems," says Chesla.

“New intelligent hunters include a technology that can identify host-related anomaly behavior, collect and analyze evidence," he continues, "such as unexpected processes and applications that run on the host, and create new IOC [indicator of compromise] signatures accordingly." Detected IOC signatures indicate the presence of a security breach, such as malware. They are used to create new IOC signature files that are uploaded to scan systems in order to detect additional threats.

New Methods of Handling Vulnerable Data

“One of the biggest revolutions in cybersecurity is the idea that companies can attain the verified data they need without having to hold or manage personally identifiable information (PII) in one place," says David Thomas, CEO of Evident, a company that offers an Application Programming Interface that eliminates the need to collect, hold and protect personal data.

“Traditionally, any data that a business receives from a customer or employee is held in one potentially vulnerable database," says Thomas. “This means that if/when a breach occurs, hackers can get everything they want in one fell swoop. Companies are getting smarter about not only clarifying the data they need to ensure safety and security, but also how they need to handle that data to mitigate risk and liability."

The Use of Behavioral Biometrics

Ensuring identity is a common practice in cybersecurity protocol. Behavioral biometrics is the newest addition to this practice.

“Behavioral biometrics identifies people by how they do what they do, rather than by what they are (e.g., fingerprint, face), what they know (e.g. secret question, password) or what they have (e.g. token, SMS one-time code)," says Frances Zelazny, Vice President of BioCatch, a cybersecurity company offering behavioral biometrics to banks and other businesses.

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Labels, Tags And Keywords For This Article: cybersecurity, data, breach, biometric, security, hacking, malware, viruses, computers, dependencies, planning, systems, passwords, safety, humanizing, personalizing, cloud, protection, Equifax, Douglas Castle

Purchase Order Financing - Fuel For Business Growth

noreply@blogger.com (Douglas Castle) — Mon, 23 Oct 2017 11:54:00 +0000

PURCHASE ORDER FINANCING – AN OVERVIEW

Summary: Purchase Order Financing ("PO Financing") is frequently used when more complex financial instruments, like letters or credit, are unavailable, or prove too complex. It is a method of trade financing where your company has a supplier willing to sell you a product for, say $50,000.00, and you have a buyer who has given you a firm committed purchase order to buy that same product for $100,000.00. The issues are that 1) the supplier won’t give you credit, and 2) the buyer does not wish to pay in advance for a product which has not yet been delivered. PO Financing is a means of getting sufficient capital or guarantees (in lieu of capital) to pay the supplier the $50,000 so that you may complete the trade and make a profit.

All businesses should understand the basics of purchase order financing, its potential benefits and pitfalls, and who might use it. Simply put, it’s a way to purchase finished goods or raw materials that will be turned into products that are resold and shipped, usually within a relatively short time frame. It is based on having a verifiable purchase order. Typically, the financing is issued, completed and repaid in less than two months.

What kinds of companies use PO financing?

PO financing is appropriate for many businesses: from smaller start-ups with sales orders coming in but without necessary capital to fulfill; to larger, more established businesses with unusually large orders or for a big new customer. Wholesalers, drop shippers and resellers frequently avail themselves of this option. PO financing provides the capital needed so supplies can be bought, product produced, and finished goods shipped.

It’s a great way to put your company on the map, or launch to the next level. More to the point, you can avoid turning down a deal for lack of access to funding.

What is the biggest potential negative to purchase order financing?

The single biggest stumbling point is also the reason purchase order funding is possible in the first place: approval is based on the credit, track record and trustworthiness of your customer. The financiers are in essence gambling on you, your suppliers, and your buyer holding up their end of the bargain - if anything falls through, they take the hit. So be sure that your trust in your customer is well placed.

Finally, partnering with a purchase order finance company needs to make good business sense for your organization. Consider:

 Fees and interest rates; the purchase order finance company takes a cut of your profits - not much, but you need to decide that it’s equitable;

 Underwriting requirements, including minimum loan amount (it may be more than you actually need);
 Delivery time, billing schedule and other timeline demands (international transit times can be particularly troublesome here).

A BRIEF NOTE ABOUT CREDIT INSURANCE

If your customer's credit is weak or questionable, it may be wise to purchase a credit insurance policy from a specialized broker. This insurance provides payment in the event that your customer or client fails to pay when the subject invoice comes due. These specialized policies can substantially increase the likelihood of your company being able to obtain purchase order financing (and often at better rates and terms).

Thank you, as always, for reading me. - Douglas
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Regulatory Updates For Exporters And International Investors

noreply@blogger.com (Douglas Castle) — Fri, 20 Oct 2017 01:58:00 +0000

REGULATORY UPDATES FOR EXPORTERS AND INTERNATIONAL INVESTORS

EXIM, CFIUS, FATCA, and FCPA

EXIM Bank recently published its updated Country Limitation Schedule; if you’re an exporter, trading company, or a multinational (on a small scale), this information is of critical importance, so I would suggest you review it, together with its attachments, very carefully and thoroughly -- especially in light of the current federal administration.

Also, for those of you involved in international investing and transnational projects, this might just be a good time to refresh your understanding of some key regulations which will affect your every major move. The most important of these regulations are synopsized in the paragraphs which follow prior to the EXIM Bulletin. For your review:

CFIUS (or occasionally CFUS) - DEFINITION of 'Committee on Foreign Investment in the United States - CFIUS' An interagency committee of the United States government that reviews financial transactions to determine if they will result in a foreign person controlling a U.S. business. CFIUS specifically focuses on transactions where foreign control will result in a threat to national security. It is chaired by the U.S. Treasury Department, and draws members from notable agencies such as the Department of State and Department of Defense.

FATCA - FATCA stands for the Foreign Account Tax Compliance Act. • FATCA is a United States (“US”) legislation that primarily aims to prevent tax evasion by US taxpayers by using non-US financial institutions and offshore investment instruments. FATCA is a tax law that compels US citizens at home and abroad to file annual reports on any foreign account holdings. The Foreign Account Tax Compliance Act (FATCA) was endorsed in 2010 as part of the HIRE Act in order to promote transparency in the global financial services sector.

FCPA - DEFINITION of 'Foreign Corrupt Practices Act' A United States law passed in 1977 which prohibits U.S. firms and individuals from paying bribes to foreign officials in furtherance of a business deal and against the foreign official's duties. The FCPA places no minimum amount for a punishment of a bribery payment. While the act requires corrupt intent, it is better to err on the side of caution when dealing with a foreign official for business matters. Punishments allowable under the act include fines of up to double the amount of the benefit expected to be received from the bribery. In addition, the individuals involved can face imprisonment for up to five years

Dear Readers: The bottom line is to BE DILIGENT!

And now, back to EXIM…

Thank you, as always, for reading me. - Douglas

Country Limitation Schedule Update

Export-Import Bank of the United States sent this bulletin at 10/19/2017 04:41 PM EDT

You are subscribed to Country Limitation Schedule (CLS) for Export-Import Bank of the United States. This information has recently been updated, and is now available.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

The Country Limitation Schedule (CLS) issued by the Export-Import Bank of the United States (EXIM Bank) has been updated. The new CLS is effective October 25, 2017.

The new CLS may be accessed on-line on October 25, 2017 at: http://www.exim.gov/tools-for-exporters/country-limitation-schedule. The CLS and Cover Letter are also attached as PDF files below.

The CLS indicates where EXIM Bank is "open for cover" and where EXIM Bank is "off-cover." The "open for cover" designation refers to the possibility, rather than the certainty of EXIM Bank support in particular cases. Where the CLS presents an X mark, EXIM Bank is "off-cover," and is therefore not willing to consider approval of routine transactions. These "off-cover" determinations are due to economic and/or political risks associated with the country.

Where the CLS indicates support is not available, EXIM Bank can still consider financing arrangements that eliminate or externalize country risks. Potentially acceptable transactions include structured transactions that earn revenues offshore in a country with no CLS restrictions and are held in a bank or trust account acceptable to EXIM Bank; third-party support from creditworthy entities in countries with no CLS restriction; and asset-backed lease and financing structures involving equipment such as aircraft.

It should be noted that these exceptions do not apply in countries where EXIM Bank is legally prohibited from operating.

For more information on the EXIM Bank, please visit our website at http://www.exim.gov.

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IS YOUR PROJECT OR BUSINESS UNFUNDABLE?

noreply@blogger.com (Douglas Castle) — Tue, 17 Oct 2017 13:21:00 +0000

Why Your “Project” May Be Unfundable

Generally Speaking, Nobody Wants To “Put You Into Business”.

Funds Are Won By Businesses And Not By “Exciting Possibilities”.

Do You Have A Dedicated Management Team In Place To Operate Your Business Or Project?

Would You Like To Know What It Takes To Make Your Business Or Project FUNDABLE?

Were You Aware That Putting Words Into Quotes Implies A Kind Of “Sarcasm,” And Does Not Add Emphasis?

...Taking Steps To Make It Fundable

By: Douglas Castle

Most projects and nascent enterprises are inventions without sponsorship, dream careers which no company has yet been formed to provide, or are segregated outgrowths of existing businesses which are laden with bills (liabilities ) from the failed operation that ventured out a bit too far – and would like to have a third party (read: “patsy”) reimburse or otherwise cover those expenses to keep them from being acknowledged as sunk costs or losses.

In short, the majority of projects and startup companies are not structured and assembled as true businesses in search of capital; they are more like hobbies, options, dreams or gambles. And true project finance sources and venture capital investors are hesitant to deploy capital into hobbies, options, dreams or gambles – they prefer to invest in an organized business or project with a clear plan, a committed sponsorship, a management team in place (or in contract to be hired), and some progress already made toward meeting its objectives.

Here's a checklist of informational items which will serve you well if you are in search of project funding or venture capital. It is fairly safe to assume (and for me to say) that the more of these items which you address and the better that you handle them, the more likely it is that will succeed in winning that ever-elusive infusion of capital. The items on this checklist are in no particular order of importance or priority, and the list itself is geared toward either startup entrepreneurial enterprises or early-stage (but having great growth potential) companies.

Some of the items may not be applicable to your specific business, so use your best judgment. Also - a number of the items are redundant or will contain redundant pieces of information - don’t be a minimalist - be redundant (and repetitious, if necessary) with any of the items on the list which apply to your company or project are applicable.

There are numerous ways to get your point across, and it’s best to utilize all of them. Yes, overkill is advised, And before you issue the Plan to anyone for his or her consideration, have them execute a Non-Disclosure, Non-Circumvention And Confidentiality Agreement - this will let them know that you are serious, and that you have something of value to protect. Here’s the list:

Comprehensive Business Plan¹;
Executive Summary;
“Deck” Or Short Video About The Company [Virtually Everybody Loves The Movies];
Amount Of Investment (Capital) In The Business By Principal Officers And/Or Members Of The Management Team
Biographies (Resumes) And Responsibilities Of Principal Officers Or Management Team And Any Letters Of Intent Regarding Employment Or Engagement;
Proper Name Of Business, Domicile, Office Address, Registered Agent Address;
Analysis Of The Competitive Landscape;
Recital Of The Features And Benefits Which Will Make Your Company’s Product Or Service Different From (And Superior To) That Of The Competition, Whom You Intend To Disrupt And Displace;
Federal Taxpayer EIN [Employer Tax Identification Number];
Certificate And Articles Of Incorporation, Articles Of Formation, Or Articles Of Organization, As Appropriate;
Company By-Laws, As Appropriate;
Shareholder Agreement, Or Operating Agreement, Or Partnership Agreement, As Applicable;
DUNS # Of Business [Register Your Business With Dun & Bradstreet And Other Similar Business Information And Listing Services];
Most Recent Balance Sheet;
Most Recent Income Statement;
Pro Forma Balance Sheet;
Copy Of Most Recent Bank Statement;
Income and Cash Flow Forecast (First Quarter Shown Month-By-Month -- Second, Third And Fourth Quarters Shown Quarter-By-Quarter -- Second, Third, Fourth And Fifth Year Shown Year-By-Year);
Information About Key Vendors And Suppliers;
Information About Key Distributors, Dealers, Agents, Representatives, Etc.;
Sample Of Purchase Order From Vendor;
Website/Blog Coordinates For Company [You MUST Have A Website (Even If It Is Merely A PDF Document) Or Blog;
Anticipated Timing (Demand) And Application Of Proceeds Required;
Copies Of All Licenses, Permits And Insurance Policies Necessary To Conducting Your Business Or Undertaking And Executing Your Project;
Copies Of All Other Pertinent Agreements, Research Studies (Validating Your Concept) And Other Documents.

NOTE 1: The Comprehensive Business Plan should generally include all of the popular and commonly written chapters (http://bit.ly/TheBPLAN), plus, you should incorporate the following features and special touches to make it more powerful, serious and urgent:

A SWOT Analysis;
A LEGAL NOTICE AND DISCLAIMER (A Sample Follows For Purposes Of Illustration. Sadly, It’s Best To Craft One And To Then Have Your Lawyer Review And Edit It Before You Put It On The Cover Of Your Business Plan). It Makes Your Plan Look More Like A Serious Offering Document, Even If No Offering Is Involved;
A Detailed TABLE OF CONTENTS (Replete With Page Numbers And Roman Numerals For Each Section);
A GLOSSARY Of Technical Terms And Acronyms [Never Use An Acronym Without Defining It In Words];
An EXIT STRATEGY Section, Even If You Intend To Stay And Build The Business Forever - Always Show A Prospective Investor The (Ahem) Door To Capital Recoupment And A Heady Gain;
A VALUATION Model Section - How Valuable Is Your Business Now, And How Valuable Will It Become? How Is This Valuation Justified?
An INDUSTRY ANALYSIS Section.

NOTE 1A: Here’s a sample of the LEGAL NOTICE AND DISCLAIMER, as promised earlier:

NOTE: THIS DOCUMENT CONTAINS INFORMATION WHICH IS HIGHLY CONFIDENTIAL AND PROPRIETARY TO DOUGLAS CASTLE, COPYRIGHT© 2017, WITH ALL RIGHTS RESERVED. THIS DOCUMENT DOES NOT CONTAIN AND SHOULD NOT BE CONSTRUED AS CONTAINING LEGAL, FINANCIAL, TAX, INVESTMENT, ACCOUNTING, SCIENTIFIC, TECHNICAL OR ECONOMIC ADVICE. THIS DOCUMENT DOES NOT CONTAIN AN OFFER FOR THE SALE OF SECURITIES OF ANY TYPE IN ANY ENTITY, NOR DOES IT CONTAIN A SOLICITATION OF INVESTOR INTEREST IN THE PURCHASE OR SALE OF SECURITIES OF ANY TYPE IN ANY ENTITY. THIS DOCUMENT MAY NOT BE REPRODUCED OR DISTRIBUTED IN WHOLE OR PART WITHOUT THE PRIOR WRITTEN PERMISSION OF DOUGLAS CASTLE; ANY OTHER REPRODUCTION OR DISTRIBUTION OF THIS DOCUMENT, IN WHOLE OR PART, IS UNAUTHORIZED AND MAY BE UNLAWFUL. FINANCIAL INFORMATION CONTAINED WITHIN THIS DOCUMENT IS FORWARD-LOOKING, UNAUDITED, FOR ILLUSTRATIVE PURPOSES ONLY AND IS BASED UPON ASSUMPTIONS AND ESTIMATES DEEMED REASONABLE BY DOUGLAS CASTLE. THERE CAN, HOWEVER, BE NO GUARANTEE THAT ANY PROJECTED FINANCIAL OR OTHER OBJECTIVES OR RESULTS CAN OR WILL BE ATTAINED RELATING TO THE SUBJECT MATTER HEREOF, AND ACCORDINGLY, NO GUARANTEE OF THE ATTAINMENT OF ANY PROJECTED FINANCIAL OR OTHER OBJECTIVES OR RESULTS IS GIVEN OR MADE HEREBY.

There it is. Build your own Legal Notice And Disclaimer, and have your attorney review and edit it before you use it. Hoohah!

Incidentally, never just send a business plan or any other information or files to a prospective benefactor or financier. Any information sent to anybody important to your future warrants a well-written (also edited and carefully proofread) letter of transmittal and a phone call in advance of any emails or snail mail submissions.

But enough of this! It’s time to get to work on making your business or project fundable.

I wish you the best of luck.

Thank you, as always, for reading me. - Douglas

p.s. If you have any questions or comments regarding this article, you may reach me directly at douglas.castle@yahoo.com. Please be certain to place the words “Question Or Comment About An Article” in the subject line of your email. While I try to answer most of my email, I cannot guarantee a response, and I cannot guarantee timeliness.

ENTREPRENEURS: YOUR CONTRARIAN ADVANTAGE

noreply@blogger.com (Douglas Castle) — Sun, 15 Oct 2017 15:43:00 +0000

ENTREPRENEURS: FIRE-UP YOUR CONTRARIAN ADVANTAGE

As an entrepreneur (or even in an established business with a growth-oriented mindset regarding a new product or service), you must focus on your contrarian advantage rather than following the herd and being lost in a sea of competitive noise. If you spend capital and energy to do what everyone else is doing, you will be competing against impossible odds; if you focus on what you do best (i.e., your “contrarian advantage”), and those few powerful things that differentiate you from all others, you will stand out and have a better chance at attracting and converting more prospective customers and clients. Creativity is king, just as original content is.

You will not be the best at social media – so why try? Just do what you need to do to be in “standard maintenance” mode. You will never have the greatest offering or the most comprehensive variety of products and services – so why try? Specialize in what you provide with the greatest level of competence, experience and excellence. Don't follow the herd for your success – ride against the herd to stand out and be noticed. And if you do this, it will strengthen your brand, your name recognition and your revenue line.

Fight on your own playing field with your own rules of customer and client engagement. Be interesting. Be original. Avoid competition – you'll only blend in – be your own brand, with your own features, your own presentation (originality always wins), your own benefits, your own customer referral programs, loyalty programs and your own uniquely-shaped message. Stop blending in. Start standing out. This is something worth doing in a big way.

As always, thank you for reading me. - Douglas

5 Characteristics Of The Most Successful Entrepreneurs

noreply@blogger.com (Douglas Castle) — Wed, 11 Oct 2017 13:46:00 +0000

Successful entrepreneurs are the exception, rather than the general rule, and there are five major characteristics which all of the most accomplished and victorious visionaries and startup artists seem to have in common.

These special traits, which differentiate and elevate these exceptional entrepreneurs from the vast and almost overwhelming masses of 'wannabes', sobered failures, and disillusioned souls, can be condensed into the following short list:

1) PASSION - These upstarts are driven by all-encompassing and deeply emotional passion for their subject matter and projects. They believe in the merits of what they are doing as well as in their commercial and financial potential, which are actually secondary. These individuals are true believers in every sense of that expression, and they love to talk about and promote what they are so deeply driven about. This passion has an almost obsessive quality to it, and that only imbues it with greater intensity and believability;

2) TENACITY - These select individuals dedicate every spare moment to furthering their knowledge and accomplishment with respect to their projects and ideas. They are not easily discouraged and are emotionally bound to their dreams and ambitions. And, once again, these dreams and ambitions are invariably about actualization and accomplishment first, with money a distant secondary consideration. If they fail, they learn quickly from their tactical or strategic errors, and they get right back to work without obsessing over their wounded spirits and bruised egos;

3) SINCERITY - A true believer is invariably a sincere individual, with those qualities of integrity and candor an integral part of his or her personality and communications. These special people speak about their projects, passions and experiences without politics, posturing or pretension. They are creatures of artisitic and intellectual integrity;

4) CONNECTIVITY* - Winners love to connect with others who share their passions or are receptive to their ideas, and they tend to network excessively with virtually anybody who shares their interest, or who is willing to listen and offer either valuable information or simple feedback. They are constant and chronic communicators, often spending hours upon hours daily in conversations with others about what they love and want. They will very seldom turn down an invitation to engage in meaningful conversation with anyone who will hold still long enough to listen. They enjoy having their views confirmed or endorsed, but they are open to constructive criticism and theyemploy it to refine their methods and plans. And no, this has nothing to do with computer connectivity or any other sort of connectivity in the technological realm -- this has to do with a great number of person-to-person interactions;

5) INFOLUST** - Diehard and dedicated entrepreneurs consume vast amounts of information regarding their interests and projects. They usually cannot seem to get enough information on a topic which they find to be of interest and importance. When they are not networking and connecting, or working directly on their projects and fledgeling enterprises, they are conducting intensive and extensive research. They are true info hounds, with limitless energy for exploring and learning.

Find a successful entrepreneur, and you will certainly also find the above five characteristics to be existent in great quantity.

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* This is an ordinary word used in an extraordinary way. We refer to this type of use by the lingovation "wildwordery".

** This is a lingovation which simply means a "lust for information". What could be more logical?

Thank you, as always, for reading me.

- Douglas

NOTHING MUCH... BUT WHERE DO I SIGN?

noreply@blogger.com (Douglas Castle) — Thu, 05 Oct 2017 22:46:00 +0000

Just testing out my signature, folks. No need to be concerned. Put your torches away and go back down the mountain to your homes! Sleep well.

Incidentally... I had originally hosted my signature on Photobucket, only to find that after my signature was up for one day, they took it down and demanded a $365.00 "ransom" to continue to host my signature (!). I found a great substitute called CubeUpload, and those folks (the salt of the Earth, every one of them) are now hosting my nifty, customized signature. Hoohah!

Douglas

TEST

noreply@blogger.com (Douglas Castle) — Tue, 03 Oct 2017 21:35:00 +0000

This is simply a test of the Feedburner function. Sorry for the intrusion. You may now go back and resume your normal activities. Thank you for your patience!