Business Management US

Sebastien International - Episode 6 � San Francisco

Thu, 17 Feb 2011 10:40:00 PST

In October 2010, Australian entrepreneur Sebastien Eckersley-Maslin embarked on a bold business challenge: become the Smallest Multinational in the World. Follow Sebastien's whirlwind journey around the world as he attempts to prove that with the right entrepreneurial spirit, you don't need to be big to be big. Sebastien International tells the inspiring story of a unique business adventure.

Episode 6 - San Francisco

Sebastien's journey ends appropriately in the venture capitalist capital of the world. Has he done enough so far to convince potential investors, or will he return to Sydney Australia with much still to be done?

HOW TO WRITE A BUSINESS SYSTEM (AND WRITE YOURSELF OUT OF A JOB)

It is always my goal or aim in my startups to build the business to a point where it can be sold to someone else - hopefully at a large profit which makes the journey to get there all the more worthwhile!

One of the best things any business can do to improve the value at the point of sale is to systemise all aspects of the business. An organisation that is well documented and does not require the specific talent(s) of the founder will sell more easily (and for a higher price) than one that the founder has all the corporate IP in their head.

Whilst you could wait until you're thinking of selling to start documenting, it is far more efficient to begin writing processes and systems from the day you start. The bonus from this is you get to experience much higher efficiency and be in control even when you're on the other side of the world working remotely!

The franchise model

If I haven't convinced you, and you think you can't afford to spend the time documenting your processes think about fast food chains (or any successful franchise for that matter).

McDonalds isn't in the business of selling hamburgers - they (the corporate) sell franchises - highly systemised businesses that are so well documented that 16 year old employees can run them.

So start thinking of your business as a franchise. How can you document every aspect of your business so someone can pick it up and run it with almost the same efficiency as you.

How can you write yourself out of a Job?

Writing a system

The first step is to have a system for writing systems. This may seem a little silly, but it will ensure you have a consistent approach to documenting your processes - and it will enable you to get your staff (if you have any) to contribute by writing systems on their jobs too.

I teach a Systems course as part of a NSW Government Program and go in to much more detail but here's a basic guide for getting started.

Each system should be broken down into four sections:

• What is the system?
A paragraph or two explaining what this system is
• Why do this system?
A paragraph or two explaining why you would implement this system and what benefit it provides the organisation. If you're struggling to answer this section you might want to reconsider if you need this system at all!
• When do you use this system?
When would you break out this system, how does it fit in with other systems and where does it sit in your workflow.
• Process
A step by step guide or checklist with very easy to follow steps of how to go about this system.

Keep your systems in an easily accessible place, preferably an online secure location (such as dropbox) but you can use a private wiki or a specific systemisation too.

I actually wrote a web-based software application to manage systems and manage people working through them, but even a simple text file in a shared drive is a good start.

Finally you should have a step in your system to somehow capture the results and provide a feedback loop so you or your staff can tweek and improve it as you learn more and work through the processes.

Sebastien International - Episode 5 � New York

Wed, 19 Jan 2011 07:03:00 PST

Episode 5 - New York

It's the toughest city in the world to crack and New York first-timer Sebastien certainly has his work cut out. But a meeting with a contact Sebastien describes as "like someone from The Godfather" is promising, and an encounter with a celebrity mentor soon have Seb on top of the world in the Big Apple.

The business idea - one for one for a better world

There's nothing like arriving in a city of 8.2 million people to remind you that you're a very small fish in a global pool of movers and shakers. That's why, as an entrepreneur trying to get noticed in New York, it's important to have a strong support network - either business or personal - that can help open doors.

But don't be fooled by the warm welcome at the door. If you don't have a mighty powerful business proposition, the door won't open twice.

Fortunately, the ‘one for one' model has already been proven by a handful of entrepreneurs around the world - another key to getting serious airtime in New York, and critical for me when I had only a matter of weeks to put together a business plan and take it around the world.

So what does a One-for-one business do?

The idea is simple but powerful: Every time you buy something, a one-for-one business donates the same item to someone in need.

It's charity as part of everyday life and it empowers you to make a difference, one transaction at a time.

The revenue model is that of a ‘for profit' business, proving you can have a charitable aspect and still be profitable. Where it makes money is through selling one-for-one branded products - from FMCG to financial services products. The criteria is that they have either a very low cost-per-sale, so a donation with every purchase does not significantly affect the bottom line, or, the commercial platform is a scalable online service that requires minimal resources to operate.

Currently, the model is providing shoes, spectacles and condoms to the underprivileged in African and Asia, and it's no surprise that the philosophy has been embraced in New York - a place where generosity is as much a sign of success as profitability. But it will take significant interest from the global business community before ‘one for one' marketed products become synonymous with supporting third world communities.

Until then, the one for one business platform will remain the domain of that handful of dedicated entrepreneurs. Without wishing myself out of a job, I sincerely hope the landscape changes soon.

Find previous episodes here...

ep 1, ep 2, ep 3, ep 4

Sebastien International - Episode 4 � Paris

Tue, 04 Jan 2011 02:29:00 PST

Episode 4 - Paris

Nothing is going right in France for Sebastien. His hotel room is double booked and he's failed to secure any meetings. Will he be down and out in Paris, or can Sebastien pull something out of the entrepreneurial bag?

OVERCOMING OBSTACLES

We face them all the time. It doesn't matter if you're an entrepreneur, a business person, a writer*, an athlete or an entire country. These are the complications that hinder the progression of your goals. However, I find, with the right balance of strategic thinking and a good dose of persistence, obstacles can actually turn into prime motivators. *I particularly suffer from writers' block!

Map it out

The proverbial has hit the fan. The first thing I do is pick myself off the ground and try to work out what happened, why it happened and where I was going. Map this out. Not only will this process create a path of logic, it may help identify new obstacles you can avoid. I personally use butcher paper and whiteboards as I find they promote brevity and keep things nice and visual, but use any process that works for you.

Test what you know

Don't ever underestimate the value of past experiences and how they can apply now - empirical methodology is where scientists start when they enter unexplored territory and you can use some of this in your own problem solving. Take some time out, think about how you have dealt with major obstacles in the past and what the resolution involved. You might pull out a forgotten tactic, an emotional response, or a resource that can help you push through. This might also be a good time to hit up your contacts on LinkedIn and see what you can learn from their experiences. (As it's always better to learn from someone else's mistakes!)

Return to your vision

Sometimes the most confronting thing you can be asked when you're starting out is "why" you're doing it. As the diary becomes full and the business plan stretches in different directions, it's easy to let your vision sit unnoticed in the background and that's when issues arise. Before they threaten your business confidence, dig out the original vision and remind yourself of why. If what you're doing doesn't align itself with your primary goal and original vision then you should ask yourself "why you are not" doing it.

Go to lunch

Lunch could be a sandwich in the park with the sunglasses on and the headphones in, it could be 3 courses and wine with a trusted friend, or it could be a metaphor for simply making some space in your head. Whatever it is for you, make sure you do it to clear your mind. In Paris I had a few issues with the direction of the business, I took a lunch break (aka gastronomic adventure) in the Eiffel Tower and came back refreshed, clear minded and scored a meeting within minutes of returning to the office. (Evidenced in the Paris video above)

Whilst it's desirable to have everything go your way, the truth is something will not quite work out. Stepping away calmly and asking the right questions of yourself and others are the best things you can possibly do when things don't go to plan.

Sebastien Eckersley-Maslin

Catch episode 1 here

Catch episode 2 here

Catch episode 3 here

Sebastien International - Episode 3 � London

Thu, 16 Dec 2010 02:26:00 PST

Sebastien International - The Web Series

Episode 3 - London

Sebastien has just two days to strike a deal in London and a tube strike has brought the city to a stand still. It's far from ideal for the young man who is trying to become the world's smallest multinational, but as every successful entrepreneur knows - it's about how you adapt and overcome.

Top apps when you're on the road

If there is anything that my last business trip to London taught me, it's to make sure you've got your apps in order before you go.

With the right technology you can be prepared for anything, even a tube strike the day you've got a major presentation, an interview and a networking event.

Here are some of the apps I rely on to stay productive - on the road and in the back of a London cab:

Todo
- a very powerful to do list designed for both the iPhone and iPad. You can create projects and checklists and even get a little help in ‘Getting Things Done' GTD. More about Todo

Cisco Mobile
With this app I can make ‘local' calls from any office number in my virtual network and make calls over a Wi-Fi network to save on roaming charges. This app only works as part of an enterprise buy, but anyone connected to Servcorp Online can benefit from it. More about Cisco Mobile

Dropbox
A great cloud computing app, dropbox let's you access your files from anywhere, syncs from multiple computers so you'll always have the latest version of the file, and it lets you share files with others via a private URL - it's simple and beautiful and a great timesaver. More about Dropbox

Servcorp Meetings
Book a meeting room anywhere in the world, arrange lunch, tea and coffee, request a white board for a presentation or make sure a personal assistant is on hand to translate. The meetings app highlights what's truly unique about Servcorp's Virtual Office packages. More about Servcorp Meetings

Flight Track
This app allows you to stay on top of last minute changes to your travel schedule. Check the times and status of flights anywhere in the world, view boarding gate numbers, baggage claim numbers, temperature in destination cities and much more. More about Flight Track

LinkedIn
All the contacts of the world via a very intuitive application. Don't underestimate the power of LinkedIn, particularly when you're on the road. The portal is a constant source of inspiration and can put you within reach of business opportunities in an instant. More about LinkedIn app

Of the 300,000 or so apps now available for iOS, there must be a few more that Business Management readers can add to this list.

Sebastien Eckersley-Maslin

To see episode 1 click here.

To see episode 2 click here.

To see episode 4 click here.

Borders Disastrous Third Quarter, Loses $74 Million

Fri, 10 Dec 2010 00:51:00 PST

Borders, the Ann Arbor-based bookseller, has failed to turn around a poor 2010 with revenue falling 17.6 percent in the third quarter, to $470.9 million. The loss from continuing operations was $74.4 million compared to a loss of $37.7 million a year ago.

The losses impacted the share price, with the chain losing $1.03 a share in the three months up to the end of October. Sales on Borders.com fell 8.6% to $12.5 million in the third quarter. It reduced its inventory by $233.7 million in the quarter. But it signed up more than 580,000 customers for its rewards plus program, bringing in $11 million in revenue.

Borders Group President Mike Edwards said during a conference call with analysts that a new strategic plan had not been in place long enough to improve results.

"We have a comprehensive, executable plan in place that supports our goal of transforming the iconic Borders brand into a profitable economic model over time," Edwards said on the call.

Borders faces a number of challenges ongoing challenges. It is competing directly as a walk in store with store giants like Walmart and Barnes & Noble, and online against the likes of Amazon.

"With Google, Amazon and Walmart, you have three 800-pound gorillas in the room. And you are a 98-pound competitor," Dalto said of Borders.

"If you go four years with all these losses, the core of your strategy is not working," Dalto said. "It is faulty. This just shows it."

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California's High-Speed Rail Network

Fri, 10 Dec 2010 00:51:00 PST

Below is a video outlining California's potential high-speed rail network (HSR), which, if everything goes to plan, will begin construction in 2012, with the main line, linking San Francisco and Los Angeles completed by 2015.

Currently, there are 500 million travellers' trips between the states different regions, which analysts estimate will increase to one billion travellers by 2030. California's HSR will service 10 percent of those commuters.

The track will run for 800 miles, and incorporate San Francisco, San Jose, Merced, Sacremento, Fresno, Bakersfield, Palmdale, Los Angeles, Anaheim and San Diego. The train is projected to run at 220 miles-per-hour which would halve the travel time for travellers.

As an environmental option, the HSR is three times more efficient than air travel and five times more efficient than cars - a key component in the US' turn towards reducing its carbon footprint. In total, the HSR should reduce California's oil use by 12.7 million barrels annually.

With construction of the HSR beginning in 2012, 650,000 contracting construction jobs will be created, along with 450,000 permanent positions - which will constitute the largest public works on US soil in 50 years.

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Hackers Crash Mastercard Site, Claim Cyberwar

Wed, 08 Dec 2010 07:15:00 PST

WikiLeaks has hailed a ‘cyberwar' after hackers have illegally brought down Mastercard's official website mastercard.com, after the credit card company stopped donations going to the whistle-blowing website.

The hackers, dubbing themselves Anonymous, launched ‘Operation: Payback' following Mastercard's halting of donations by overloading the Mastercard website, making it unavailable at around lunchtime (and still unavailable at the time of writing).

A message on Twitter from @Anon_Operation, read: 'WE ARE GLAD TO TELL YOU THAT http://www.mastercard.com/ is DOWN AND IT'S CONFIRMED! '#ddos #wikileaks Operation:Payback(is a b****!) #PAYBACK'

Another, from AnonyWatcher, added - in a play on MasterCard's advertising: 'There are some things Wikileaks can't do. For everything else, there's Operation Payback.'

WikiLeaks Europe - also on Twitter - declared it was 'cyberwar'. The organisation said: 'Group That Took Down Swiss Bank Site Have Now Taken Down Mastercard.com.'

Mastercard said Monday that it was blocking payments because WikiLeaks was engaging in illegal activity, and soon after Visa followed suit as did other US organisations embarrassed by the site continues to embarrass the US political elite by publishing leaked diplomatic cables.

In a statement today, Mastercard confirmed it is "experiencing heavy traffic on its external corporate website" but claims it "remains accessible" and that "there is no impact whatsoever on our cardholders' ability to use their card for secure transactions."

The boycott has angered DataCell, the Iceland-based firm that enables Wikileaks to accept card payments. In a statement, DataCell CEO Andreas Fink confirmed that DataCell has "decided to take up immediate legal actions to make donations possible again."

Fink goes on: "The suspension of payments towards Wikileaks is a violation of the agreements with their customers. Visa users have explicitly expressed their will to send their donations to Wikileaks and Visa is not fulfilling this wish. It will probably hurt their brand much much more to block payments towards Wikileaks than to have them occur. Visa customers are contacting us in masses to confirm that they really donate and they are not happy about Visa rejecting them. It is obvious that Visa is under political pressure to close us down."

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Sebastien International - Episode 2 - Tokyo

Tue, 07 Dec 2010 02:26:00 PST

Sebastien International - The Web Series

Episode 2 - Tokyo

In February 2010, Sebastien Eckersley Maslin left the Australian Navy and became an Entrepreneur. Shortly after, he started a successful business in seven days with just AU$500. And now, he's taking on his biggest challenge ever: become the Smallest Multinational in the World. In episode 2, we join Sebastien in Tokyo.

Doing business in Japan is like a lesson in fine art. While the pace of Tokyo can make your head spin at street level, step inside the cool calm of any highrise and the attention to time honoured traditions is as detailed as an 18th century block print.

You'll also find that being skilled in these customs is powerful currency. The Japanese are extremely polite and place significance on respect and social rank. From ceremonial rituals like the exchange of business cards, to the importance of attire and the formality of meetings, etiquette is to be observed with reverence. Here are some tips that will help you make a good first impression and build a lasting relationship with your Japanese partners.

1. Exchanging business cards
The exchange of business cards during a meeting is a ceremony in itself. Always present your business card to the most senior member at the meeting first. Always bow when presenting or receiving a business card and handle with both hands. Always treat the business card with respect, take the time to read it carefully, never write on it or play with it. A symbol of your name and your credibility, business cards are very important in Japanese business culture.

2. What to wear
Business attire must be formal. Wear a dark suit with a white shirt and subdued tie, but steer clear of a black suit and tie worn with a white shirt, as this is traditional Japanese funeral attire. A red tie is traditionally the colour of someone heroic. The combination of red and white (tie and shirt) is also a symbol for auspicious or happy occasions (business meetings). Men in power - like the Presidents of the United States - are often seen sporting dark power suits with white shirts and a red tie.

3. Business meetings
Punctuality is a must in Japan. Arrive 10 minutes early and plan a detailed agenda. Wait to be seated in the meeting room, as it is customary for the most important or senior associate to sit the furthest away from the door. Business meetings are about relationship building and decisions are rarely made on the spot. Meetings may feel a bit slow and key details are often discussed in a round-about way - but don't mistake indirectness as non-commitment. Be patient, it will pay off. Silence is also a virtue, if things go quiet during a meeting do not panic, reflection is taking place.

4. Language
Another important aspect to consider is language. If you don't speak Japanese, your meetings will be done through an interpreter. Documents, presentations and even business cards need to be translated. It's important to find yourself a trusted partner on the ground in Japan to help you with these services and anticipate your needs if you visit regularly. This is where the services of a virtual office provider like Servcorp can be invaluable.

5. The Experience
The natural partner to a Tokyo business trip is a stay in a capsule hotel. You might choose a regular city hotel or even the more traditional Ryokan for the majority of your stay, but if you have a sense of adventure it's an experience not to be missed. Once inside, the capsules are larger than they appear, but still definitely not for the claustrophobic. Or those particularly sensitive to hospital style robes, communal showers and smoking. Sometimes all at once!

They might seem like small things, but the few pointers above can make all the difference to a trip to Japan for business. Take some time to consider them before you go and you'll be glad you did your homework.

Sebastien Eckersley-Maslin

Catch Episode 1 here.

And episode 3 here.

And episode 4 here.

Ian Read to Replace Jeffrey Kindler as Pfizer CEO

Mon, 06 Dec 2010 05:46:00 PST

Pfizer, the world's largest pharmaceutical company has announced that CEO Jeffrey Kindler has retired, paving the way for global biopharmaceutical operations, Ian Read, as his successor.

Jeffrey Kindler cited his retirement was due to the "extremely demanding" role and the effects it had on him personally.

"The combination of meeting the requirements of our many stakeholders around the world and the 24/7 nature of my responsibilities has made this period extremely demanding on me personally," said Kindler in a prepared statement released late Sunday. "I am excited at the opportunity to recharge my batteries, spend some rare time with my family, and prepare for the next challenge in my career."

Ian Read will inherit a company who has reduced its workforce by 6000 employees, and its shares fall by 35 percent to $16.73, as of Dec. 3 in New York Stock Exchange trading. Pfizer will also lose patent protection in the U.S. next year for Lipitor, which had $11.4 billion in sales last year. While the drugmaker moved to make up for the loss by paying $68 billion last year to acquire Wyeth, adding the Enbrel arthritis treatment and Prevnar pneumonia vaccine, it also has had four setbacks this year in developing its research pipeline.

Pfizer also said yesterday it was creating a $75 million fund and new compliance panel to settle shareholders' lawsuits that charge top company officials failed to stop illegal marketing of drugs. Pfizer last year paid $2.3 billion to settle US claims it marketed treatments for unapproved purposes.

"It is in the best interests of the company and our shareholders to reach an agreement that allows us to put this matter behind us on favorable terms," Pfizer's Kerins said in an e-mail to Bloomberg. "Subject to court approval, the agreement includes measures that reinforce and build on existing provisions of our compliance program and that formalize actions the directors and officers undertook in connection with matters at issue."

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Samsung Galaxy Tab Hits 1 Million Sales

Mon, 06 Dec 2010 01:58:00 PST

It may not have sold with the speed of its rival iPad, but the recently available Samsung Galaxy tablet has reached the one million sales plateau after only two months on the market.

The mark is a positive result for Samsung, who had come under scrutiny from Apple's Steve Jobs about the size of the Galaxy screen. At Apple's quarterly review, Job's claimed that a 10-inch screen was "the minimum required to create great tablet apps." He also expressed that 7-inch tablets like the Galaxy would be "DOA, dead on arrival and manufacturers will realize they're too small and abandon them next year. They'll then increase the size, abandoning the customers and developers who bought into the smaller format."

Despite a successful result for the Galaxy, the tablet still took a month longer to sell the same number of units as the iPad, however the result is still positive for Samsung and Google Android, the tablets operating system.

Samsung's success could be attributed to the popularity of its Galaxy S smartphones, which is sold by the majority of US carriers. According to a ComScore survey, 24.2 percent of the 3000 surveyed said they were using a Samsung phone or a similar Samsung device.

iPad have now estimated to have sold eight million tablets since hitting the market earlier this year, with fourth quarter sales peaking at four million.

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Google Comes Under Scrutiny from EU

Wed, 01 Dec 2010 07:06:00 PST

The European Commission has launched an investigation against Google Inc. in light of claims that the company has abused its dominant position by penalising the search results of competing services.

Ciao.de, Foundem.co.uk, and Ejustice.fr prompted the antitrust investigation after making allegations that Google manipulates its search results to promote its own services above those offered by competitors. Foundem said in its complaint filed against Google in February 2010, "Google is exploiting its dominance of search in ways that stifle innovation, suppress competition, and erode consumer choice."

Should the allegations be proven that Google has abused a dominant position in online search, this would be in violation of European Union rules. However, the European Commission stresses that the launch of the investigation does not imply that it has any proof of infringements and states, "It only signifies that the Commission will conduct an in-depth investigation of the case as a matter of priority."

The Commission will probe whether Google has decreased the ranking of unpaid search results of competitors' services in favor of its own. It will also look into whether the ‘Quality Score' was lowered by Google, which influences the amount paid by advertisers to have their ad displayed with the search result.

Google denies deliberately lowering the ranking of competitors. In the case of Foundem, Google ascertains that the poor page ranking is due to that fact that the website duplicates a majority of its content from other sites.

However, the search engine giant has agreed to work with the EC. "Since we started Google we have worked hard to do the right thing by our users and our industry," Google stated, "But there's always going to be room for improvement, and so we'll be working with the Commission to address any concerns."

It is predicted to take six months for the EC to arrive at a conclusion over the investigation. In the worst-case scenario for Google, they could be fined up to $2.4 billion by the EC, although this is unlikely. To date, the largest fine raised in a similar case was against Intel for £930 million.

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JPMorgan Staff to Trial iPad

Wed, 01 Dec 2010 06:57:00 PST

According to Bloomberg, JP Morgan is to issue its investment banking staff with iPad tablets as part of a six-month trial.

"We believe there are real benefits in our working environment that can be realised using this device - as well as the personal productivity and enjoyment that come as part of the package," two managing directors at New York-based JPMorgan said in an e-mail obtained by Bloomberg News.

Depending on its success we will evaluate if we should repeat this one time initiative and/or expand it to others," they are quoted as saying.

JPMorgan outlined that the trial will allow associates to access e-mails, contacts, calendar and attachments via the iPad, as well as have the ability to mark-up and annotate confidential documents and make client presentations, says Bloomberg.

"There are a variety of ways to leverage the iPad. Some work off-the-shelf whilst others rely on JPMorgan software/security tools," the managing directors wrote in the e-mail. "Depending on its success we will evaluate if we should repeat this one time initiative and/or expand it to others.

Shift away from RIM

With JPMorgan staff utilizing the iPad, competitors like Research in Motion (RIM) will have its work cut out to reconnect with financial institutions - RIM specifically have been the mobile of choice for Wall Street financiers, according to Finextra. In response, RIM has announced its plans to launch a tablet computer in Q1 of 2011. But it may be too late, as big ticket banks - including JPMorgan, BNP Paribas, Morgan Stanley and Credit Suisse - roll out client applications for the iPad.

The shake-up of the corporate smartphone market was demonstrated last month when it emerged that Bank of America and Citi are the latest financial services giants to consider letting their staff use iPhones and Google Android-based handsets as an alternative to BlackBerrys for corporate e-mail, following in the footsteps of JP Morgan Chase and Standard Chartered.

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Sebastien International - Episode 1 � Sydney

Wed, 01 Dec 2010 02:27:00 PST

Sebastien International - The Web Series

Episode 1 - Sydney

So Sebastein, tell BM what you're doing right now.

Basically I'm in the middle of a round the world trip to become the world's smallest multi-national. It's a bit of a challenge. I'm also going do it in record time - two weeks. That's the end objective.

I'm no stranger to challenges. I've done a few of these business challenges in the past. One was a start-up in 7 days for under $500.00, a business which is still going today quite successfully. This is all just basically a way of inspiring other people and pushing the boundaries of what can be achieved in really just demonstrating that someone doesn't really have to be big to be big.

Tell us a bit more about Sebastien International. Sebastian International is the global organization. It's just a name. It's a branding exercise. The real business itself is called One for One, and it's basically an organization that for every product that you purchase through us, we donate a like product to someone of need.

It's just a really good way of increasing social conscience in consumers. I found through a lot of research that charities are fantastic and do a lot of good in the world, but people sometimes get a little disenfranchised about the whole charity concept.

They can't really see exactly what their donations actually do because charities work on a much larger scale. What One for One does is it gives people a direct understanding of exactly what their contribution is doing. So, for example, with a bottled water product, you buy a bottled water through One for One and we donate clean drinking water to a child in South Africa for a month. It's a very clear understanding of exactly what their purchases have done.

So talk us through the business model

Firstly, the One for One organization will promote other businesses in this space that currently do this, and there are others out there that already use this concept. We've got them on board already.

Secondly, we really want to show with One for One is that businesses can still have a charitable aspect and be profitable at the same time, and going to show that by having our own product line. So that's really where the actual business sense is.

So the One for One group is more of the marketing and PR aspect to the organization. We'll make our revenue in business in the actual One for One product line.

So why philanthropy?

Well for two reasons. One, I was heavily involved in the Club Kidpreneur Program in Australia, which is a not-for-profit organization that teaches our primary school children basic leader skills. I helped write the curriculum for that. I felt really good about doing that and I wanted to continue down that path.

Secondly, because this challenge is over a very short amount of time I needed a product or an idea that people would jump on and support. One for One is something people will get really excited about because they can see that you're doing good in the world.

It seemed like a really natural fit for this opportunity to go around the world and make a global organization, and also change the way people think and perceive products and consumerism.

Biggest challenges?

There have been a few challenges, some of which we've managed to overcome on the way. The biggest challenge is time. I'm doing this in a very short amount of time, but things are going well and the support of the virtual office provider, Servcorp, just made it so much easier because I had the staff, systems and office space I could call my own.

The other real challenge is that large organizations have long lead times. They'll only meet businesses who want to sell them something in certain time periods and if you're not in that one week period they won't even talk to you. So it's a bit of a challenge to get around that. Calling lots of personal favors, using LinkedIn to identify the exact individual I want to talk to and leveraging my network and going through agents is my way around that.

Catch episode 2 here.

And episode 3 here.

Ad episode 4 here.

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Google Could Buy Groupon Deals Site

Wed, 01 Dec 2010 01:28:00 PST

Google, the internet giant is in talks to buy Groupon for $6 billion, according to sources from the Wall Street Journal and The New York Times.

The move would solidify Google's move into the local advertising space, adding a welcome addition to its multibillion-dollar online advertising business. The purchase would also extend Google's dominance against surging competition from Facebook, which has rolled out its own deals initiative last month.

If the deal is completed, it would be Google's biggest acquisition ever, easily surpassing the $3.1 billion it spent for online display advertising firm DoubleClick in 2007 and the $1.6 billion for YouTube in 2006.

"I give it a 70-30 chance of going through," says Martin Tobias, CEO and founder of Groupon rival Tippr. "It's something that Google needs to do."

Groupon has seen a meteoric rise since it began only two years ago. In just two years, Groupon has staked claims in more than 300 markets worldwide and has more than 33 million subscribers, making it one of the fastest-growing companies in history. The local advertising market is extremely lucrative, and according to BIA/Kelsey, a consulting firm, total spending will reach $133 billion in the US this year. According to analysts Groupon's customers will spend $500 million through the website this year.

The possible buy-out is not without risk for Google, as Groupon has stiff competitors, yet Lou Kerner, a social media analyst at Wedbush Securities, said he's betting that Groupon has staying power.

"What we've seen is new businesses on the Internet can emerge and be immensely valuable. Quite often, the first company in these kinds of new and emerging fields on the Internet gain market share and continue to be the leaders," he said. "There's every reason to believe that Groupon will continue to grow and continue to command significant market share."

"Google's got the cash to spend, and Groupon is one of the few properties worth hunting. If Google buys Groupon, we will have to wait and see if it's worth the premium Google has to pay," BGC Partners analyst Colin Gillis said.

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Walmart Buying 51 Percent Stake in Massmart

Mon, 29 Nov 2010 01:34:00 PST

Walmart - the biggest retailer in the world - has made a formal bid for the South African Massmart, a deal that would help Walmart's move into the fast-growing African market.

"South Africa possesses attractive market dynamics, favorable demographic trends and a growing economy," executive vice president Andy Bond said in a statement.

According to Reuters the offer is 148 rand a share, or 15.2 billion rand ($2.13 billion) which would account for a 51 percent stake, meaning Walmart would have the majority share. In September Walmart confirmed it was looking to purchase all of the South African retailer, but scaled back its bid to 51 percent in order to keep the retailer listed in Johannesburg - something that was critical in gaining regulatory approval.

Massmart, with 290 stores in 13 countries in Africa, is the continent's third-largest distributor of consumer goods, the leading retailer of general merchandise, liquor and home improvement equipment and supplies, and it is the leading wholesaler of basic foods.

"The more we learn about South Africa and the surrounding countries the more we are convinced that this is an important region with attractive growth characteristics," said Doug McMillon, president and chief executive of Wal-Mart International. "This combination fits perfectly with our strategy to enter high-growth markets in which we can apply our global expertise and generate strong returns."

Walmart were quick to reiterate that it will honor all existing contracts with organized labor bodies after labor unions spoke out against the proposed tie-up, accusing Walmart of poor labor relations and arguing its arrival in South Africa will hurt suppliers.

Walmart's overseas business now accounts for 25 percent of its total revenue.

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Lego Lays Building Blocks for New Business Model

Fri, 26 Nov 2010 07:14:00 PST

Traditionally a family run business, Lego Group has made drastic changes within its business strategy bringing on Jorgen Vig Knudstorp as CEO.

From its humble beginnings in 1932, Lego has gone from strength to strength and has grown to be a global enterprise and a household name; it is now the fifth-largest toy manufacturer globally.

However, after decades of success, the toy giant began to lose footing in 1998, and by 2003 had made record losses. Kjelf Kirk Kristiansen, grandson of Lego's founder, put a substantial sum of his own money into the company, but it soon became apparent that a more dramatic change was needed. In 2004, the decision was made for 36-year-old Jorgen Vig Knudstorp to replace Kristiansen as CEO. This marked a significant transformation in Lego's business model, as, for the first time, the company would be run by someone removed from the Kristiansen family.

Although he had only been with the company for three years, Knudstorp had the advantage of being able to offer a unique perspective as an outsider to the company. After graduating from the University of Aarhus, Denmark, with a BA in Economics and PhD in Business Economics, Knudstorp began his career as an Engagement Consultant at McKinsey & Company before joining Lego Group as Director of Strategic Development in 2001.

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Since taking up the position of CEO, Knudstorp has driven the design of Lego's new business model and system around the question ‘why do we exist'? Instead of diversifying the business further into new areas, he encouraged the concept of ‘rediscovering Lego' and focusing on what made Lego unique as a company. "So, that was the question; getting back to the simple thing that makes you really unique, and then everything else evolves from that question," he tells MeetTheBoss.tv.

Knudstorp believes that Lego's diversification strategy in the 1990s was too ambitious and fast moving, "I think it's a golden rule in business that most companies don't die from starvation; they die from indigestion because there is so much opportunity if you open your eyes to it," he explains. "One rule I stick to is that you can only really build an adjacency to your core business every three to five years because it is such a major undertaking in terms of culture and capabilities. That's what we did wrong in the past: rather than doing it every three to five years, we did three to five adjacencies every year. That is what nearly killed us."

Focus returned to Lego's most successful and traditional favourites - its building system for children - and abandoned products such as Legoland, which had become a distraction from the company's main product line. Emphasis was placed on the quality of the moulding and the precision of the manufacturing process.

Under Jorgen's leadership, Lego's profits have again skyrocketed from a €259 million net loss in 2004, to making an astonishing €181.5 million net profit in 2008. The future is once again looking bright for the Danish toy company.

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Johnson & Johnson Recalls Benadryl Allergy Tablets

Wed, 24 Nov 2010 06:31:00 PST

Johnson & Johnson has recalled four million packages of Children's Benadryl allergy tablets and 800,000 bottles of junior-strength Motrin caplets. The news is a setback for the world's largest healthcare manufacturer, as it is still reeling from a number of recent high-profile recalls.

Although J&J didn't confirm particulars about the recall, it did state that the products were safe and were still useable, citing that there were "insufficiencies in the development of the manufacturing process."

"There is no indication that the recalled products do not meet quality standards," the company said in a notice posted last week on the individual websites of the drugs, "and this recall is not being undertaken on the basis of adverse effects."

The recalls were made at in Fort Washington, after a review of manufacturing procedures at McNeil Consumer Healthcare, a subsidiary based there. The review was launched back in April after a FDA inspection uncovered several deficiencies. McNeil also ordered the recall of 146 million bottles of children's medication made at the facility, including liquid Tylenol, Motrin, and Benadryl. The plant remains closed.

Specifically, children's Benadryl allergy Fastmelt tablets, in cherry and grape flavours, and junior-strength Motrin caplets, 24 count were recalled. The medicines have a wide circulation, including distribution in the United States, Canada, Puerto Rico, Belize, Barbados, St. Martin, and St. Thomas.

The recall adds further pressure on J&J, who recalled thousands of vials of anti-cancer drug Velcade following reports of white particles floating in the medicine. The recalls were carried initiated in January and June in Europe, Japan, Malaysia and the US. Europe was the most affected, with 195,000 vials requested back.

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The Turn Back to Globalization in HR

Wed, 24 Nov 2010 02:51:00 PST

Globalization across workforces has seen exponential growth in the last two decades, and after a dip during the most recent recession, is now emerging again within HR, creating challenges as well as opportunities, and tremendous uncertainty.

In a new major study by the IBM Institute for Business Value, more than 700 chief HR officers and senior executives from 61 countries and 31 industries worldwide found that China and India are leading the way by increasingly hiring in North America and Europe. In fact, the study found 45 percent of companies in India and 33 percent of companies in China plan to increase their head count in North America alone.

The study outlines the new global workforce that is emerging as companies start to deploy talent globally once again in order to achieve their corporate objectives.

In the past, North America has always been perceived as a fertile state for workers from the east, however there is a distinct change today, as North American companies' struggle to stop top talent from seeking better opportunities in the east.

"Western companies used to be able to attract workers from India or China, for example, because of the quality of life they could have here. But the economies there are growing fast, and the quality of life and lifestyle available to people from those countries in their home country is quickly becoming similar to that in North America. The bright people of the world may want to stay where they were or go back home," says Ian Cook, director, research & learning at the B.C. Human Resources Management Association.

The market for skilled workers is back to being global and highly competitive. "You can't think of it in any other terms and therefore it is expensive to play in it because you've got relocation costs, all the costs of managing talent and competing for it across the globe," Mr. Cook says.

Many of the world's top HR executives will be at the HR Summit to discuss globalization issues, as well as important HR topics including creating a corporate culture of health, developing an integrated talent management strategy, CHRO challenges for 2011, the importance of effective compensation plans and methods for businesses keen to retain their top talent.

Those on hand will include: David Fairhurst, VP People, McDonald's; Ceree Eberly, Chief People Officer, The Coca-Cola Company; Desiree Dancy, Chief Diversity Officer and VP Corporate Human Resources, The New York Times Company; Michele Golden, VP Talent Management, Time Warner; Shannon Brown, CHRO, FedEx and Felicia Fields, Group VP HR and Corporate Services, Ford Motor Company.

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PayPal to Introduce Online Purchasing on TV?

Tue, 23 Nov 2010 07:46:00 PST

PayPal is working with a US cable TV consortium to develop a new 'T-commerce' initiative in which consumers can pay for goods and services on their television.

The prototype service is being created at Canoe Ventures Innovation Lab, according to reports it is a 'test bed' environment created by the cable collective. Canoe's members include Bright House Networks, Cablevision Systems, Charter Communications, Comcast, Cox Communications, and Time Warner Cable.

The consortium has invited Catalina Marketing, Delivery Agent, FourthWall Media, icueTV, and PayPal to address the use of RFI and T-commerce in interactive television.

Osama Bedier, vice president of platform, mobile and new ventures at PayPal explains the concept on the company blog:

"Today, I'm happy to say we're one step closer to equipping every living room in America with T-commerce powered by PayPal. We're working with Canoe Ventures, which was founded by the country's leading cable operators to create interactive products and services, to make this a reality. Other major players that have joined us include Catalina Marketing, Delivery Agent, FourthWall Media and icueTV. Canoe's "test bed" is Canoe Ventures Innovation Lab, where work is already underway.

"Together, we are pushing forward the very future of television as an interactive shopping experience that harnesses the ease and safety of PayPal. Imagine this: lounging on your couch and channel surfing, then finding that perfect birthday present. A few clicks of your remote, and you've purchased the gift via your PayPal account. Pretty cool, right?!

"We at PayPal believe that the wallet should live and will live "in the cloud." Internet-connected devices will be the very fabric of the digital lifestyle. And as televisions increasingly become Internet enabled, they open up whole new avenues for new ways to connect and sell to consumers directly. We are proud to support our developers as they push forward with this vision."

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The Daily - Murdoch�s Exclusive Tablet Alternative

Tue, 23 Nov 2010 01:13:00 PST

Rupert Murdoch, the News Corp. CEO is planning on an iPad newspaper, according to reports. ‘The Daily', as it will be called, will have 100+ staff and break stories like similar news outlets.

Unlike Reuters and other online news resources, ‘The Daily' won't be free, with initial costs around $.99 a week. ‘The Daily' will not have foreign correspondents or any staff in Washington D.C.

"There are three managing editors," reports John Koblin of WWD Media. "Mike Nizza, a veteran of The New York Times, AOL News and The Atlantic; Steve Alperin, a producer at ABC News, and Pete Picton, an online editor at The Sun in the U.K. Alperin's TV experience gives a hint to a valuable part of the newsroom: In addition to journalists, there will be plenty of people producing videos. Also, there will be lots of design staff."

‘The Daily' will be exclusive to the iPad and other tablets, meaning it will not be available on normal desktops, or printed as a hard copy. According to reports, "It will be produced into the evening, and then a button will be pushed and it will be ‘printed' for the next morning. There will be updates - the number of which is still under discussion - but not at the velocity or with the urgency of a news website."

Murdoch is outlaying $30 million for the news outlet.

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