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f22ea16619973c67f1d233ae7d53dd03 | https://www.forbes.com/sites/chasewithorn/2017/09/19/the-first-forbes-list-see-who-the-richest-americans-were-in-1918/ | From Rockefeller to Ford, See Forbes' 1918 Ranking Of The Richest People In America | From Rockefeller to Ford, See Forbes' 1918 Ranking Of The Richest People In America
John D. Rockefeller, America's first billionaire, enjoys a round of golf. Time Life Pictures/Mansell/The LIFE Picture Collection/Getty Images
Forbes began publishing its annual Forbes 400 list of the wealthiest Americans in 1982, but the magazine started tracking the subject all the way back in 1918. The first-ever Forbes rich list, compiled by B.C. himself, surveyed "the foremost bankers in the country" to find America's 30 greatest fortunes—staggering sums, even by today's standards.*
1. John D. Rockefeller (1839–1937)
Oil Net worth in 1918: $1.2 BIL Net worth in 2017: $21 BIL “Mr. Rockefeller’s wealth,” B.C. Forbes wrote, “if it could be turned into cash and distributed equally—which it couldn’t—would give every man, woman and child in the United States $10 each.” Rockefeller gave away more than $500 million during his lifetime (worth at least $8 billion today), but his heirs are still worth an estimated $11 billion.
2. Henry Clay Frick (1849–1919)
Coke, steel Net worth in 1918: $225 MIL Net worth in 2017: $3.9 BIL The Pittsburgher made a fortune selling coke to Andrew Carnegie—the raw material used in steelmaking, that is—and as a partner in Carnegie’s steel businesses.
3. Andrew Carnegie (1835–1919)
Steel Net worth in 1918: $200 MIL Net worth in 2017: $3.5 BIL Carnegie wrote The Gospel of Wealth—a precursor to Gates and Buffett’s Giving Pledge—preaching, “He who dies thus rich, dies disgraced.” He donated an estimated $350 million (worth at least $5 billion today) to charity during his life.
4. George F. Baker (1840–1931)
Banking Net worth in 1918: $150 MIL Net worth in 2017: $2.6 BIL Baker rose from bank teller to president of the First National Bank but remained fairly unknown away from Wall Street. “You have never once seen George F. Baker quoted in the newspapers,” B.C. Forbes noted. “His aversion to being interviewed is deeper than the Atlantic.” He took $5 million in 1924 (worth $72 million today) and single-handedly funded the creation of the Harvard Business School.
4. William Rockefeller (1841–1922)
Oil, railroads Net worth in 1918: $150 MIL Net worth in 2017: $2.6 BIL John D.’s younger brother worked as a bookkeeper then as a produce merchant before going into the oil business.
6. Edward S. Harkness (1874–1940)
Oil Net worth in 1918: $125 MIL Net worth in 2017: $2.2 BIL Inherited his millions from father Stephen, a Standard Oil partner, and brother Charles, who died childless in 1916.
6. J. Ogden Armour (1863–1927)
Packing Net worth in 1918: $125 MIL Net worth in 2017: $2.2 BIL He took over Chicago meatpacking firm Armour & Co. upon his father’s death in 1901 and grew sales from $182 million to more than $1 billion. A post-World War I slump, bad investments and really bad investments ($50 million worth of German marks) wiped out nearly all of Armour’s fortune by the time of his death.
8. Henry Ford (1863–1947)
Automobiles Net worth in 1918: $100 MIL Net worth in 2017: $1.8 BIL “Mr. Ford’s career is too well known to call for recapitulation,” B.C. Forbes wrote.
8. W.K. Vanderbilt (1849–1920)
Railroads Net worth in 1918: $100 MIL Net worth in 2017: $1.8 BIL Grandson of Commodore Vanderbilt, he became the family patriarch in 1899 upon the death of older brother Cornelius II.
8. Ed. H.R. Green (1868–1936)
Banking Net worth in 1918: $100 MIL Net worth in 2017: $1.8 BIL Son of “Witch of Wall Street” Hetty Green, he grew up in cheap boarding houses thanks to his miserly millionaire mother’s fear of kidnapping and refusal to pay property taxes. Green eventually inherited some of the fortune Hetty forged from frugal living and shrewd investments—and bought estates, yachts, automobiles and a private airport.
11. Mrs. E. H. Harriman (1851–1932)
Railroads Net worth in 1918: $80 MIL Net worth in 2017: $1.4 BIL Mary Williamson Averell Harriman inherited $69 million when her railroad tycoon husband died in 1909.
12. Vincent Astor (1891–1959)
Real estate Net worth in 1918: $75 MIL Net worth in 2017: $1.3 BIL Great-great grandson of John Jacob Astor, a fur trader considered America’s first multimillionaire. When Astor made B.C. Forbes’ rich list, he was overseas, fighting in World War I. Astor joined the Navy in 1917, despite his father going down with the Titanic, and loaned the government his yacht for use as a warship.
13. James Stillman (1850–1918)
Cotton, banking Net worth in 1918: $70 MIL Net worth in 2017: $1.2 BIL Son of a cotton merchant, Stillman abandoned a medical education to join the family business, where he made millions before turning to banking.
13. Thomas F. Ryan 20 (1851–1928)
Transit, tobacco Net worth in 1918: $70 MIL Net worth in 2017: $1.2 BIL A Wall Street financier who consolidated Manhattan streetcar lines into America’s first holding company; his tobacco interests were rolled into James Duke’s giant American Tobacco Co. The F stands, fittingly, for Fortune.
13. Daniel Guggenheim(1856–1930)
Mining, smelting Net worth in 1918: $70 MIL Net worth in 2017: $1.2 BIL He made a fortune buying mining properties in the late 19th century with his father, Meyer, and brothers. One of them, younger brother Solomon, founded the New York museum designed by Frank Lloyd Wright.
13. Charles M. Schwab(1862–1939)
Steel Net worth in 1918: $70 MIL Net worth in 2017: $1.2 BIL No relation to the other Charles Schwab, your broker. This Schwab rose from stake driver to president of Carnegie Steel, then U.S. Steel, then Bethlehem Steel. He lavished money on friends and family; died broke.
13. J.P. Morgan Jr. (1867–1943)
Banking Net worth in 1918: $70 MIL Net worth in 2017: $1.2 BIL Son and spitting image of the J.P. Morgan.
18. Mrs. Russell Sage (1828–1918)
Banking Net worth in 1918: $60 MIL Net worth in 2017: $1 BIL Margaret Olivia Slocum Sage inherited the $60 million when her husband, a notoriously close-fisted Wall Street financier, died in 1906; she spent the rest of her life giving the money to charity.
18. Cyrus H. McCormick II (1859–1936)
Farm machinery Net worth in 1918: $60 MIL Net worth in 2017: $1 BIL His father invented the reaper, transforming farming and helping drive the industrial revolution by freeing farm laborers to work in factories.
18. Joseph Widener (1872–1943)
Transit Net worth in 1918: $60 MIL Net worth in 2017: $1 BIL His father made a fortune in trolley cars; he, as owner of New York’s Belmont Park, was more into Thoroughbred racing.
18. Arthur Curtiss James (1867–1941)
Mining, railroads Net worth in 1918: $60 MIL Net worth in 2017: $1 BIL He inherited mining millions and built a rail empire covering a quarter of the U.S.
18. Nicholas F. Brady (1878–1930)
Transit Net worth in 1918: $60 MIL Net worth in 2017: $1 BIL His father amassed New York transit lines—and electric utilities that became part of Con Edison.
23. Jacob h. Schiff (1847–1920)
Banking Net worth in 1918: $50 MIL Net worth in 2017: $875 MIL A prominent investment banker, Schiff funded the railroad boom and the Japanese side of the Russo-Japanese War.
23. James B. Duke (1857–1925)
Tobacco Net worth in 1918: $50 MIL Net worth in 2017: $875 MIL With about 90% of the market, Duke’s American Tobacco Co. was the Standard Oil of cigarettes. His $100 million endowment ($1.4 billion in today’s dollars) created Duke University.
23. George Eastman (1854–1932)
Cameras Net worth in 1918: $50 MIL Net worth in 2017: $875 MIL The man who made Instagram possible, Eastman’s affordable Kodak cameras brought photography to the masses. Suffering from a spinal disease, Eastman committed suicide in 1932. His note: “My work is done. Why wait?”
23. Pierre S. du Pont II (1870–1954)
Powder Net worth in 1918: $50 MIL Net worth in 2017: $875 MIL Explosives made the Du Ponts rich, but he helped transform the business into a diversified chemical giant; served as president of GM.
23. Louis F. Swift (1861–1937)
Packing Net worth in 1918: $50 MIL Net worth in 2017: $875 MIL His father pioneered the use of the refrigerated railcar.
23. Julius Rosenwald (1862–1932)
Mail orders Net worth in 1918: $50 MIL Net worth in 2017: $875 MIL The mail-order millionaire bought into Sears & Roebuck in 1895 and grew it into what was once the world’s largest retailer.
23. Mrs. Lawrence Lewis (1895–1937)
Oil Net worth in 1918: $50 MIL Net worth in 2017: $875 MIL Louise Clisby Wise Lewis’ aunt was the widow of Standard Oil partner and Florida developer Henry Flagler. Wall Street speculators got it wrong: Lewis was not her aunt’s principal heir. Instead, she received some Florida property plus $200,000 a year until age 40 and then $5 million outright. Impressive for 1918 but a fraction of what B.C. Forbes estimated.
23. Henry Phipps (1839–1930)
Steel Net worth in 1918: $50 MIL Net worth in 2017: $875 MIL A partner and boyhood friend of Andrew Carnegie.
*Fortunes have been converted to 2017 dollars using CPI inflation adjustment; other methods—which apply a person's share of his or her day's economy to today's much, much larger economy—yield higher estimates, including as much as $340 billion for John D. Rockefeller.
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ed4d8225dd68673b945003c77df8ec70 | https://www.forbes.com/sites/chasewithorn/2019/04/16/how-bernie-sanders-earned-nearly-5-million-in-past-10-years/?sh=46060d174954 | Here's How Bernie Sanders Earned Nearly $5 Million In The Past 10 Years | Here's How Bernie Sanders Earned Nearly $5 Million In The Past 10 Years
Bernie Sanders has had a good decade. Since 2009, the socialist senator has pulled in nearly $5 million in income, according to a Forbes analysis of 10 years of Sanders’ tax returns.
For that, he can largely thank his 2016 presidential campaign—and the lucrative book deals that followed. Sanders and his wife, Jane, earned between $200,000 and $330,000 from 2009 through 2015, before his fiery bid for the White House. Then, around the time he conceded the Democratic nomination to Hillary Clinton, he inked two deals with publisher Macmillan.
The Sanders’ income, listed on tax returns they file jointly, increased dramatically. In 2016, they pulled in nearly $1.1 million—more than quadruple their previous year’s earnings of about $250,000. Around $800,000 of it came from the advance Sanders got for writing the hit Our Revolution: A Future to Believe In. Royalties from the bestseller flowed in 2017, and Sanders kept writing. He released a second book and signed a deal with Macmillan for a third, which helped push the couple’s earnings beyond the $1.1 million mark ($960,000 of it from the book deals). Last year, the couple made about $575,000, some $380,000 of it coming from Sanders’ side gig as an author.
“I wrote a best-selling book. If you write a best-selling book, you can be a millionaire, too,” Sanders recently told the New York Times.
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He has earned millions from the government as well. Between 2009 and 2018, Sanders and his wife took in around $2.1 million in wages, mostly from Sanders’ $174,000 congressional salary. The couple’s tax returns show they have also collected about $400,000 in Social Security over the past decade. Another $135,000 came from pensions and annuities, including a city pension from Sanders’ stint as mayor of Burlington, Vermont, in the 1980s. The couple has also collected some $60,000 in dividends, capital gains and other miscellaneous income.
While the sums might be modest relative to some of the wealthiest officials in Washington, they’re substantial in comparison to the average American. In fact, Sanders now appears to be a member of the 1%. “These tax returns show that our family has been fortunate,” Sanders said in a press release. “I am very grateful for that, as I grew up in a family that lived paycheck to paycheck and I know the stress of economic insecurity.”
Those days are long behind the senator, who Forbes estimates to have a net worth of $2.5 million. And more high-earning years look to be ahead for the Sanders family. As the press release notes, Jane Sanders is working on a book of her own.
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43a3e96bafbb707043c37e047f6739bb | https://www.forbes.com/sites/chasewithorn/2021/04/30/american-billionaires-have-gotten-12-trillion-richer-during-the-pandemic/ | How Much Money America’s Billionaires Have Made During The Covid-19 Pandemic | How Much Money America’s Billionaires Have Made During The Covid-19 Pandemic
Elon Musk at the Axel Springer Award ceremony in 2020. Hannibal Hanschke-Pool/Getty Images
“Twenty million Americans lost their job in the pandemic,” Joe Biden remarked in his Wednesday night address to Congress. “At the same time, roughly 650 billionaires in America saw their net worth increase by more than $1 trillion . . . and they’re now worth more than $4 trillion.”
That’s true, according to Forbes’ data—but the numbers are actually a bit richer. Total American billionaire wealth stands at $4.6 trillion as of the stock market close on April 28, by our count. That’s up 35% from $3.4 trillion when markets opened on January 1, 2020, just as Covid-19 was beginning to take the world by storm.
In other words, U.S. billionaires have gotten about $1.2 trillion richer during the pandemic.
Markets are surging, despite more than a year of lockdowns and a spike in unemployment, leading to a boost in the value of 401(k)s, IRAs and other investment accounts for Americans everywhere. The S&P 500 is up 29% since January 1, 2020, even with the March 2020 Covid crash; the Dow Jones Industrial Average is likewise up 19%. But many billionaires—who often have much of their wealth tied up in individual companies, or portfolios of investments in things like private equity and hedge funds that are not available to average Americans—are faring much better. Three quarters of America’s 722 billionaires are as rich, or richer, than they were before the pandemic—some by billions, tens of billions, or even more than one hundred billion dollars.
Just 20 big gainers account for more than half of the increase in all U.S. billionaires’ wealth. The biggest gainer of all, in dollar terms: Elon Musk, who has had an incredible run since the beginning of 2020. The Tesla and SpaceX chief’s net worth has skyrocketed an incredible 540%, from about $27 billion in early January 2020 to more than $170 billion today. For that he can thank Tesla stock—which is up more than 700% as enthusiasm for the electric vehicle maker has pushed shares into the stratosphere—plus hefty Tesla stock option awards and an $850 million funding round for SpaceX, which lifted the private spaceflight firm’s valuation to a reported $74 billion. In early January 2021, Musk spent a brief time as the world’s richest person, though he has since fallen back to No. 3.
Jeff Bezos, the world’s richest person, has also been a winner. Shares of Amazon are up by 87% over the past 15 months as quarantining shoppers have flocked to the e-commerce giant during the pandemic, helping drive an $86 billion increase in Bezos’ fortune since January 2020. Forbes estimates that Bezos is the first person in history worth more than $200 billion.
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Other big gainers include Google cofounders Larry Page and Sergey Brin, who are worth $102 billion and $99 billion, respectively—making them each more than $40 billion richer than before the pandemic. They’re two of 15 tech billionaires who are among the 25 biggest gainers since the pandemic began, as tech stocks have fared particularly well.
Billionaires aren’t just richer since the pandemic began, there are also more of them. A record 493 new faces joined Forbes’ World’s Billionaires list this year—roughly one new billionaire every 17 hours between March 2020 and March 2021—including 98 newcomers from the U.S. That includes famous faces like Kim Kardashian West, moviemaker Tyler Perry and Apple CEO Tim Cook. It also includes ten new billionaires who got rich riding the SPAC wave, like laser lidar mogul Austin Russell and serial SPAC sponsors Chamath Palihapitiya and Bill Foley. With cryptocurrencies soaring, nine new crypto billionaires emerged, including the Winklevoss twins, FTX exchange founder Sam Bankman-Fried and Silicon Valley investor Tim Draper.
Then there are those who have made a fortune fighting the Covid-19 virus, including August Troendle, whose Medpace helps pharmaceutical companies run clinical trials for Covid-19 drugs, and three American shareholders of Covid vaccine developer Moderna: Timothy Springer, Noubar Afeyan and Robert Langer.
Not that the entire .01% has seen their wallets fatten since the pandemic began. Oil moguls like Harold Hamm and George Kaiser are worth less than they were at the beginning of 2021, as the energy industry has been slow to recover. Many real estate tycoons are facing strong headwinds too, as brick-and-mortar retail struggles and demand for office space has dried up. That has dented the fortunes of billionaires like Jeff Sutton, Jerry Speyer and, yes, Donald Trump. Forbes estimates that the former president is worth $2.4 billion—down from $3.1 billion just before Covid struck.
Changing winds in Washington might spell more trouble for billionaires’ bank accounts. On Wednesday, President Biden detailed proposed increased taxes on the ultrawealthy, including raising the top income tax rate and the top long-term capital gains tax rate. “Sometimes I have arguments with my friends in the Democratic Party,” Biden said in his Wednesday address. “I think you should be able to become a billionaire and a millionaire, but pay your fair share.”
The S&P 500 climbed by 0.68% on Thursday, following the speech. American billionaire wealth, meanwhile, rose by nearly 5%—making the country’s billionaires a collective $200 billion richer in a single day.
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325d0f11709f071928a5b6fa61c923c8 | https://www.forbes.com/sites/chelseadavis/2018/11/30/omni-chefs-share-cookie-cocktail-recipes-and-the-inspiration-behind-them/ | Omni Chefs Share Cookie Cocktail Recipes And The Inspiration Behind Them | Omni Chefs Share Cookie Cocktail Recipes And The Inspiration Behind Them
Holiday cookies and cocktails Omni Hotels
The holiday season is upon us! As a kid, most of us had a favorite holiday cookie he or she looked forward to munching on every year. Or if you’re like me, maybe your favorite cookies were any freshly baked batch, paired with a glass of milk. Now that we’re adults, no doubt we still enjoy cookies, but how about cocktails inspired by our favorite holiday cookies? Game changer. Well luckily for us, Omni chefs nationwide are spreading the delicious joy of festive cookies, but in a slightly different way. Below, six chefs share with us their recipes for “childhood favorite” holiday-cookies-turned-nostalgic-cookie-cocktails, as a part of the brand’s month-long Omni Originals culinary series.
From the Cinnamon Churro Leche with Tres Generaciones Reposado Tequila and the Chocolate Crinkle Surprise with Jack Daniel’s Tennessee Whiskey to the Maple Pecan Old Fashioned with Elijah Craig Small Batch Bourbon and the Sparkling Kolaczki Bellini with Absolut Elyx, there are plenty of choices for everyone looking to get spirited this season.
While you can certainly enjoy them at home, they will be available across Omni Hotels and Resorts nationwide from Dec. 1 – 31.
Orange Spice Amaretto Shortbread
“These cookies were inspired by the ones my grandmother would make around the holidays. She always had some type of cookie ready when I would visit, and her shortbread ones were always my favorite. I didn’t realize it at the time, but she would be a big influence on me, and probably set me on this path. These rich light cookies are delightful, and the salty almond, paired with the spice of the pepper give them an added depth of flavor.”
Omni Corpus Christie, Chef Dean Sprague
Orange Spice Amaretto Cookie Cocktail Omni Hotels
Ingredients:
1 oz Mount Gay Black Barrel 0.5 oz Disaronno Amaretto 1.5oz orange juice 1 oz Monin Cookie Butter Syrup 0.75 Constant Comment Tea, concentrated 2 dashes Angostura Bitters Garnish: half moon orange with cloves, grated nutmeg and cinnamon stick
Directions:
Combine all ingredients in mixing tin and shake well. Double strain into iced Collins glass. Garnish and serve.
Cinnamon Churro Cookie
“My favorite childhood memory from growing up in Guadalajara was visiting the fair because I was able to eat one of my favorite foods, a churro. The churro would be fried until it was crispy on the outside and soft on the inside. They would coat it in cinnamon sugar and fill the inside with cajeta, vanilla cream or a chocolate hazelnut spread. To recreate this memory I have fashioned a crispy cinnamon cookie with a Nutella swirl topped with freshly made churro crumble. It brings me right back to my youth. To enhance the display we have paired it with a linzer date cookie in our iconic hibiscus shape.”
Omni San Diego Hotel, Chef Juan Barrios
Cinnamon Churro Cookie Cocktail Omni Hotels
Ingredients:
1.5 oz Tres Generaciones Reposado 0.75 oz Monin Vanilla Syrup 0.5 oz Monin Cinnamon Syrup 2 oz milk Garnish: sugar and cinnamon rim and dust
Prep: Wet outside rim of martini or coupe glass with simple syrup. Dip into cinnamon sugar mixture.
Directions:
Combine all ingredients in mixing tin and shake well. Double strain into sugar and cinnamon rimmed martini glass. Garnish and serve.
Holiday Chocolate Crinkle
“Like most people, I have always loved desserts. If given a choice, I would trade something chocolate for a gourmet meal. While I didn’t grow up with traditional American comfort food and desserts, I made up for it when I decided to become a pastry chef. I remember going to the library and borrowing a huge dessert cookbook. I made every recipe in the book and would even experiment with added flavors to make them my own. The first time I made classic crinkle cookies, I knew this was going to be one of my favorites. I remember how the scent of chocolate filled my kitchen as I waited for them to finish baking, my mouth watering in anticipation. And this recipe didn’t disappoint. The rich, fudgy chocolate inside and the crisp outside dusted with powdered sugar are the perfect combinations of texture and flavor. For the holidays, or anytime I want to really indulge, I add walnuts and cherries and the result is an incredibly decadent cookie that pairs deliciously with a bowl of vanilla ice cream. It’s also a great way to wow your friends and family!”
The Omni Homestead Resort, Chef Leen Kim
Chocolate Crinkle Cookie Cocktail Omni Hotels
Ingredients:
1.5 oz Jack Daniels Black Label 0.5 oz Hersheys Chocolate Syrup 0.5 oz Monin Toasted Almond Mocha Syrup 2 oz milk Dash powdered sugar Garnish rim: cocoa powder and sugar mixture sprinkled with powdered sugar and pirouette cookie (optional)
Prep: Wet the outside rim with simples syrup. Dip into a bowl mixture of the cocoa powder and sugar.
Directions:
Combine all ingredients in mixing tin and shake well. Strain into rimmed glass. Top with a mound of shaved chocolate and sprinkle with powdered sugar.
Maple Pecan Bourbon Cookie
“My holiday cookie gets its origin from where most great recipes come from, my family elders. Over the years as my baking skills bloomed and I realized I wanted to be a pastry chef, I never forgot about this one cookie tweaking it over and over again. During the holidays every year when I visit my nephew and niece, they always insist I make these awesome cookies. These days they call me in advance to make sure I will have everything so we can make them together during my annual holiday visit. As a result, when I think of a great holiday cookie, I think of family, passing it on, and of course an awesome holiday cookie!”
Omni Fort Worth Hotel, Chef Sabrina Pena-Morales
Maple Bourbon Pecan Cookie Cocktail Omni Hotels
Ingredients:
2 oz Elijah Craig Bourbon 0.25 Monin Butter Pecan Syrup 0.25 Monin Maple Spice Syrup 3 dashes Fee Bros. Black Walnut Bitters Garnish: caramel syrup swirl in glass and over top
Prep: Swirl Caramel along the inside of the glass and set aside.
Directions:
Combine all ingredients in a mixing glass and stir well. Strain into caramel-swirled Old Fashioned glass.
Peach Kolazcki Cookie
“As a young culinarian, my first Chef who is a mentor had a Polish grandmother who would make the cookies for him as a child. He would tell the same story every time as he handed them out to the staff for the holidays while singing Christmas songs. The cookies were always buttery and soft with the perfect amount of sweetness and accompanied by a chilled glass of eggnog. I would ask the Chef for his recipe but he would tell me its grannies secret, after a few years he gave in and told us how to create this wonderful treat. For the last 20 years or so I have been making them for my family telling his story with a slight twist.”
Omni Atlanta Hotel at CNN Hotel, Chef Desmond Queen
Sparkling Peach Cookie Cocktail Omni Hotels
Ingredients:
0.75 oz Absolut Elyx 0.25 oz St.Germain 0.75 oz peach puree 2 dashes orange bitters 3 oz Moet & Chandon Brut Garnish: Wet outside rim of the glass with real peach puree and dip into sugar
Prep: Wet outside rim of a champagne flute with peach puree. Dip into a bowl of white sugar and set aside.
Directions:
Combine all ingredients in mixing tin and shake well. Double strain into rimmed champagne flute.
Sugar Cookie
“This cookie is exactly how it was passed to me, exactly how I do it with my kiddos now. Traditions passed down. My mom cut this recipe from a magazine in the '80s. Finally one day it was mailed to me with this post it. My kids and I make these at Christmas, the shapes hold true, never gets tough, pull apart if you ball, so interactive and fun family time. While doing this today, I saw the same joy in cooks eyes learning as I see in my children.”
Omni Tucson National Resort, Chef Jonathan Stutzman
Sugar Cookie Cocktail Omni Hotels
Ingredients:
1.5 oz Captain Morgan Spiced Rum 0.5 oz Disaronno Amaretto 0.25 oz Monin Vanilla Syrup 0.5 oz Agave Syrup 1.5 oz milk Garnish: Green sprinkle rim and non-pareil colored swirl
Directions:
Combine all ingredients in mixing tin and shake well. Double strain into rimmed martini glass. Garnish and serve.
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227a547ac08a995aa2dbe487ea56db50 | https://www.forbes.com/sites/chelseadavis/2019/03/14/want-an-authentic-philly-cheesesteak-in-san-francisco-go-here-now/ | Want An Authentic Philly Cheesesteak In San Francisco? Go Here Now. | Want An Authentic Philly Cheesesteak In San Francisco? Go Here Now.
The Douglas Room bar The Tilden Hotel
The Tilden Hotel is a chic boutique property once known as the Mark Twain Hotel. Originally built in 1928, the reimagined property boasts a rotating art collection of local artists; Tilden Cafe which serves a selection of high quality coffee and tea drinks alongside SF-based JANE’s pastries; a lively lobby that doubles as a great workspace thanks to free Wi-Fi, charging areas, a hip vibe and communal spaces; and last, but certainly not least, The Douglas Room which is reason enough to stop by The Tilden.
Situated on the lobby floor of the hotel, The Douglas Room is a cozy, intimate bar space helmed by Mo Hodges and Brian Felley of the also popular Tenderloin watering hole Benjamin Cooper. While we could go on about the impressive selection of original cocktails such as the Tilden Highball with London dry gin, Bonal Gentiane-Quina, Golden State cider, cardamom, basil and soda water, we’re here to talk about one of this spot’s other major draws: chef Glen Schwartz’ classic Philly cheesesteak.
I’ve been to the City of Brotherly Love. And so I wasn’t quite sure what to expect when I was greatly encouraged to order the cheesesteak from SF-based chef Schwartz’ speakeasy menu. But one bite in and I was hooked. Dripping with savory, meaty flavor and oozy cheesy goodness, this sandwich is the real deal.
I decided to find out why. Read on to learn what makes a cheesesteak authentic, what ingredients you need to make it at home and why you need to try this one out for yourself.
What was the inspiration for the bites at The Douglas Room?
The bites all have a different story behind them. This might come from myself, or another member of our staff here at The Douglas Room. I can’t even remember why some of the bites are on the menu or how they ended up there, but they did, and they are well received. It is more important to me that the bites are loved by our guests and executed well by our staff than having a story behind each one, though that never hurts.
What makes the ultimate Philly Cheesesteak?
Balance. The right amount of meat to bread and grease to cheese ratio. Using proper bread also makes all the difference in the world. With the right bread it will soak up just enough of that juicy goodness yet still hold together and give you the support needed in a well put together cheesesteak.
What makes yours on par with the Philly Cheesesteak in Philly?
Putting us on par with Philly, eh? Not many will believe it if they haven’t been in to try one, so come check it out and you make the call. But to answer the question at hand, using quality ingredients, direct from Philly, and executing it traditionally rather than with a “twist.”
The Philly Cheesesteak and duck confit wings. Chelsea Davis
What's the key to making a good one at home?
Patience and sourcing the right ingredients. Don’t cut corners. If you want to throw a cheesesteak party do it right. Look for authentic Amoroso rolls which can even be found at your local cheesesteak shop. Chances are if they carry the bread, they will allow you to purchase it. But... if you want to be certain and stock some away in your freezer you can contact the Amoroso Bakery in Philly directly. They Ship practically everywhere you can think of. As far as meat goes, head to a butcher shop or if you have an awesome meat counter at your local market, they should be able to take proper care of you after you explain what you want. Next is the cheese. If you’re going Whiz then for the love of a good cheesesteak get actual cheese whiz. DO NOT get the cheese whiz dip or spread! Cheese Whiz sauce only. Heat it up slowly and whisk in a little water to thin it out until desired consistency. As far as the other cheese options go there are two others: White American and Provolone. Get a decent brand from your deli counter and don’t slice it too thick. Last but certainly not least are the onions. “Are you gonna have ‘wit or ‘wit out?” That’s the big question here. If you are having onions dice them small and thin. And don’t forget to pick up some mild and hot pickled cherry peppers to throw on your stellar homemade whiz, hopefully, ‘wit onions.
Do your Philly friends approve of your take on their iconic sandwich?
I, being the California kid that I am, had to pass a rigorous test from Mo Hodges of The Douglas Room who is from Pennsylvania. More importantly, I also gained approval from his father who goes by the nickname “Hoagie.” After all, “Hoagie” used to be paid by the pound for cutting onions in a sandwich shop and if that’s not enough validation then I don’t know what is.
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3696719c0ab2c21c2abf01079c44b1b9 | https://www.forbes.com/sites/chelseadavis/2019/03/31/this-company-is-using-blockchain-technology-to-eradicate-slavery-in-the-chocolate-industry/?mc_cid=c798c16ca4&mc_eid=d4dbeb56d1 | This Company Is Using Blockchain Technology to Eradicate Slavery In The Chocolate Industry | This Company Is Using Blockchain Technology to Eradicate Slavery In The Chocolate Industry
Next time you unwrap a candy bar, consider this: an estimated 2.3 million children work in the cocoa fields of Ghana and Côte d'Ivoire. A number of major chocolate companies such as Nestlé, Mars and Hershey are a part of this problem and moreover, have acknowledged their usage of child slavery in their chocolate production. Despite this fact, many of these big league chocolate companies have yet to take meaningful action against the practice.
On the other side of the spectrum, Amsterdam-based chocolate company Tony's Chocolonely wants to change the entire industry, one chocolate bar at a time. Their objective? To make chocolate 100% slave free, not only their own, but chocolate worldwide. The company has been fighting modern slavery within the chocolate industry for the past 13 years.
In a nutshell, the problem lies within the chocolate supply chain, which begins with cocoa farmers and ends with you enjoying your chocolate bar. Large chocolate companies want to make as much profit as possible which often times means that farmers are left at the short end of the stick not being able to make a living income from cocoa. Essentially farmers are not able to ‘price’ their beans, creating a poverty trap that in turn leads to child labor and modern slavery.
Four years ago Tony's Chocolonely decided to figure out a way to better trace the path of cocoa beans. They needed a system change and scalable solutions. What they did was create a shared value chain platform from bean to bar called the Beantracker which digitally logs the journey from bean to bar and includes a monitoring tool for all actors in the chain to see where the beans are at any particular moment in time.
The goal? For the Beantracker platform to be able to be the industry standard for the traceability of bean to bar. Moreover, for it to be a platform that all interested chocolate companies including big chocolate could use to join the fight against modern slavery in the industry.
Amongst others the world’s largest cocoa processor, Barry Callebaut, is currently inputting data on the platform enabling a full view from bean to chocolate for Tony’s Chocolonely to use this platform and help develop the value chain. Though Tony’s has been critical towards Callebaut from the beginning about their role concerning child labour and modern slavery, Tony’s Chocolonely believes that the best way to make change in the industry is to slowly get the major players on board with slave-free chocolate and developing a scalable supply chain model. And Callebaut has been a solid partner in that for many years now. If Tony’s can get large companies to follow their Beantracker protocol, the hope is that others won’t have an excuse not to.
Forbes chatted with Frans Pannekoek, Bean to Bartender, on technology’s vital role in traceability and scale, their collaboration with Accenture, blockchain and the future of slave-free chocolate around the world.
The mission of Tony's Chocolonely is to make chocolate 100 percent slave free; worldwide. Why did you decide to get into the chocolate business and what prompted you to put an end to modern slavery and exploitation in the cocoa industry? Clearly, it’s no easy task; one that isn’t something most chocolate companies are even talking about openly.
My true drive to work for Tony’s is having a real opportunity to change the system, in this case the chocolate industry even if for just a little bit. I was able to execute my vision on a shared value chain centered around the flow of information. And by designing an infrastructure, processes and IT systems (and a great team of people) build something that could be used by the largest players in the industry as well. So reducing barriers for the big choco companies to change for the good.
What are the major challenges stopping more chocolate companies from being 100 percent slave free?
Well, the answer should be ‘not that much’. Basically Tony’s has developed it’s five sourcing principles for others to join and apply in their own supply chains. Even if those others are the big chocolate companies in the world. The premium that would allow farmer families to reach a living income impacts the profit and loss of a chocolate company. It should result in analysis of the total value chain, including the miraculous escalation of margins in the supply chain, up to the (retail) selling prices and promotional activities companies are undertaking. Another one is traceability, it sounds so easy: consumers just want to know where the raw materials in their bar come from, but cocoa being a long and complex chain and chocolate being a processed product that turns out to be quite a challenge. Though a chocolate bar actually is made of only two raw materials; cocoa beans and sugar (and a drop of lecithin), the journey and processing steps make it quite complex to trace. We believe that having a direct relationship with farmers through traceability is key in taking responsibility. When you buying of a big pile of beans you might turn a blind eye to what is happening ‘on the other side’ of the pile. That doesn’t happen once you’ve met and worked together with the people in the value chain. So, of the five sourcing principles, the premium and the traceability are perhaps most divergent from common practices. Note that programs to increase quality and productivity have been around for decades, only without traceability they have seldom gained scale and impact beyond the program itself.
Talk about Beantracker and how the advent of blockchain technology has dramatically changed the potential of reliably managing traceability. Though Blockchain use for traceability is still in its early stages, how long until it becomes more mainstream?
One or two years ago Blockchain popped up everywhere. It was the hottest of exponential technologies around. And next to bitcoin its potential application in making (food) chains traceable was the key promise. We were asked to host a pilot with Accenture to explore the possibilities and first-hand experience working with this new technology. We were especially interested in what its performance would be compared to our cloud-based Beantracker. We learned a lot! Most elementary for technology is input equals output so getting the data onto a platform (whether this is the Beantracker of a blockchain) it the main challenge. And blockchain does nothing (more) to facilitate or improve that process any more than other technologies. And because it is still in its developing stages technology is still expensive and it requires time and resources to update and change. All in all the conclusion was, what blockchain holds the promise of being a platform for traceability anonymous transaction yet, for now, the tech was too early to move our business operations onto that platform. So the transition into the mainstream will definitely take a few more years and lots of pilots and learning to be made in all different kinds of (food) chains.
What are the main obstacles for Blockchain use for traceability?
The main obstacle for a traceability platform is uploading the data. Unlike bitcoin, which is a 100% virtual world, in the cocoa value chain, we deal with physical goods which easily can be misplaced. A bag of cocoa may be torn and disposed of, fallen off a truck or misplaced by putting it on the other side of chalk line in a dusty warehouse in the bush. If not all these (less than 100%) are logged the inflow of data determines the outcome of the dataset. So, creating complete inputs from different nodes along a long value chain is a challenge. Timely data is also a challenge because many of the cocoa locations are in regions with bad to no network coverage. Cooperatives managers need to travel for network connections and data to be uploaded on a platform. Tony’s has built strong partnerships in Africa along the value chain so with intensive training, follow-up and a good relationship we have been able to create very good data input for the Beantracker. But neither technologies Beantracker nor blockchain in itself improve data input/uploads. We do see a big role for (improvement of data upload) in using mobile devices. We are piloting that this season.
Explain your collaboration with Accenture. Were the results promising? Where do you see this going in 5-10 years?
Before the blockchain pilot we had no working relationship with Accenture. Accenture hosts ‘dragons den-like’ events for employees to pitch innovative purposeful projects. Accenture then funds the winning projects. Two young guys from Accenture pitched the plan to do a Blockchain pilot on traceability and invited Tony’s to be the value chain owner. Because we were monitoring this new technology and because we had Beantracker we were interested. So, together we designed the pilot, chose one cooperative and one local trader in Cote d’Ivoire (that were already doing well in data compliance in Beantracker) and trained them to input the Blockchain. During a period of two months we logged and monitored the cocoa bean flow. Altogether 63 Delegees and one cooperative Socoopacdi and one local trader Ocean participated. We tracked about 900K kg beans, around 400 transactions (registrations, movements and corrections), 35 shipments between cooperation and local trader (trucks) and 12 international shipments. Our conclusions based on the pilot: There is important potential in blockchain technology for traceability worth investigating, we anticipate it will take another three to five years for it to become business operations viable. We have a functional and operational traceability platform that performs the same service with a different technology. Together with ChainPoint our partner for Beantracker we will follow blockchain developments closely as well as other relevant technological developments like Artificial Intelligence (AI) and the Internet of Things (IoT). And when appropriate applications arise, or the eco-system readiness grows, we will integrate blockchain technology into Beantracker. We are open to other parties to further explore other technologies (AI) and the application for traceability. In short, the pilot was a great ride, we learned a great deal, had some fun along the way and realized the Beantracker was doing a fine job as our traceability platform.
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a985a3a05de66e9e81807e2a73b2ee77 | https://www.forbes.com/sites/chelseadavis/2019/05/25/why-japanese-wagyu-beef-is-so-coveted-according-to-a-beef-expert/?sh=56d3bb631f85 | Why Japanese Wagyu Beef Is So Coveted, According To A Beef Expert | Why Japanese Wagyu Beef Is So Coveted, According To A Beef Expert
Wagyu Kobe Beef Roka Akor
Have you ever sat down at a fancy restaurant, knowing that you’re in for a treat, but are simultaneously confused as to what why the Japanese Wagyu Beef selection on the menu you’re staring at is so high-priced? Don’t worry; you’re not alone.
San Francisco’s Roka Akor is known for its contemporary Robata Japanese cuisine, offering diners a diverse, thoughtful menu consisting of prime cuts of steak, seafood, sushi, sashimi, a personalized Omakase tasting menu and more. Further setting a dining experience at Roka Akor apart from other Robata-driven restaurants is its twelve-foot Robata grill that uses mesquite charcoal with flames that can rise up to 1,900 degrees. Each tier of the grill has a different purpose, whether searing, cooking or simply resting, and cooks the Japanese cuisine at varying speeds and temperatures over hot coals.
Shouldn’t come as a surprise that “Roka” means ‘gathering place around fire,’ right?
All else aside, the real reason a visit here is worth it is the chance to taste authenticated Japanese Kobe Beef. This is a rare strain of Wagyu Beef that originates from a Tajima-gyu breed of cattle which are only born and raised in the Hyogo prefecture of Japan, of which Kobe is the capital.
Wagyu Kobe Beef Roka Akor
Roka Akor is one of a select few restaurants in the United States where you can experience the melt-in-your-mouth, soft, tender goodness that is Kobe Beef. If this cut is a bit too rich for your blood, you can opt for any other of its selection of Japanese wagyu steaks such as the Japanese Grade A5+ Takamori Drunken Wagyu Beef from Yamaguchi Prefecture or Japanese Grade A5+ Kobe Wagyu Beef from Hyogo Prefecture. Though it won’t be cheap no matter what you decide.
To help demystify the world of Japanese wagyu, Forbes chatted with Executive Chef Roman Petry of Roka Akor on certification, popularity and whether or not it’s really worth the hype.
What is the process like to get a license to serve Kobe Beef and why is it so hard to do so?
There is no license to serve Japanese wagyu, any restaurant can purchase Japanese wagyu from a Japanese Wagyu Beef importer, with the exception of Certified Kobe Beef. To be able to serve Kobe Beef, which is the most renown kind of Japanese Wagyu Beef, you must apply with the Kobe Beef Association in Kobe, Japan. The application is not cheap and there is an annual fee for the license. It usually takes about 3 months for the Kobe Beef Association to verify that the specific restaurant is of a high enough caliber to serve true authentic Kobe Beef. Currently, the Kobe Beef Association doesn’t allow any more applications due to an ever increasing demand. This verification process was made necessary as the vast majority of restaurants serving “Kobe” are actually selling domestic lower grade Wagyu Beef.
Why has wagyu become so popular in the U.S.? What caused this boom and how are restaurants jumping on the trend?
Eating Japanese Wagyu Beef is truly a once in a lifetime experience and therefor there has always been a great interest in trying it. Additionally, our culture is becoming more and more aware about the quality of food we are enjoying, which inherently highlights Japanese Wagyu Beef as its such high quality. I see a trend of generally eating less meat, but paying much more attention of the quality of meat when we do indulge in a steak then I’ve seen in the past.
Explain what the “grades” of wagyu mean. What makes the beef more expensive and rarer?
All Japanese wagyu cows are graded and assessed by the Japan Meat Grading Association. The overall meat quality score of the Wagyu is determined according to four factors—beef marbling, meat color and brightness, firmness and texture of meat, and color, luster and quality of fat—each of which is graded from 1 to 5, with 5 being the highest score. The most common you see in the US is Japanese A5 Wagyu which is the top score. Generally, only A4 and A5 Wagyu are being exported to the US. Both are stunning and a bit different. To me A5 Wagyu is more of a special occasion Steak while A4 Wagyu is slightly less rich and often has a higher steak flavor which is something you can enjoy on a more regular basis.
Wagyu Flight Roka Akor
In your experience as a chef, is wagyu worth the money?
Having traveled to Japan many times and having visited the Wagyu Farms and Wagyu Auction in Tokyo, I absolutely believe that it’s worth the cost. The amount of care that goes into the production of Japanese Wagyu Beef is incredible. With that said we do have some amazing domestic Ranchers raising and producing some very fine domestic Wagyu as well, which in my opinion is far superior to most Prime Beef and can be more affordable then the Japanese Wagyu.
For those inexperienced with grilling with wagyu, what are three tips you have for them?
Because of the high degree of marbling in Japanese Wagyu, it is crucial to take the steaks out of the fridge at least 30 minutes before you want to grill them so that the steak can warm up a bit. Have your grill or frying pan hot but not too hot as Japanese Wagyu caramelizes very quickly. I also tend to grill it to just about rare and let it rest. Because of the high marbling, Japanese Wagyu tends to still cook a little bit once you take it off the heat so don’t cook it initially too far.
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2c3a1fbae96a708eaaf6d4b78f41e3f3 | https://www.forbes.com/sites/chelseadavis/2019/07/10/this-is-where-the-pia-colada-was-born/?sh=2f4d309a2957 | This Is Where The Piña Colada Was Born | This Is Where The Piña Colada Was Born
The Original Pina Colada Caribe Hilton
As if you ever really need an excuse to order a piña colada, today is National Piña Colada Day, so go ahead and order that creamy, sweet, cocktail-meets-dessert libation that is best served on a sunny, tropical beach somewhere exotic.
The piña colada hails from San Juan, Puerto Rico where it was created by bartender Ramón “Monchito” Marrero at the Caribe Hilton in 1954. He mixed up a fruity blend of rum, coconut cream and pineapple juice and boom. Everyone's favorite summer treat was created.
For the next 35 years, he would personally serve his cocktail while he bartended at the hotel. Come 1978, the piña colada was declared the official drink of Puerto Rico. To make things even more official, Caribe Hilton was presented with a proclamation signed by Puerto Rico’s Governor Sila María Calderón in 2004 in honor of the 50th anniversary of the beverage.
Ramon “Monchito” Marrero Caribe Hilton
“The Piña Colada is a key part of Caribe Hilton’s iconic history. We’re proud to be known as the place the recipe first originated and want our guests to feel like they’re a part of the story," says Pablo Torres, General Manager. "To keep them engaged, we continue to roll out new offerings related to the drink. Since the reopening, we’ve created two new recipes that showcase twists on the classic cocktail, Piña Colada French toast, and a piña colada drink at our on-site Starbucks. When guests try our Piña Colada, they know they’re in Puerto Rico.”
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To celebrate the classic piña colada we've rounded up some of our top recipes for you to make right at home!
Original Piña Colada Recipe by Caribe Hilton
Ingredients:
2 ounces white rum 1 ounce coconut cream 1 ounce heavy cream 6 ounces fresh pineapple juice ½ cup of crushed ice
Directions:
Add the rum, coconut cream, heavy cream and pineapple juice in a blender. Add the ice and blend until smooth for about 15 seconds. Serve in a 12-ounce glass. Garnish with a fresh pineapple wedge and a maraschino cherry.
Flor Piña Colada Flor de Cana
Flor Piña Colada by Charlotte Voisey
Ingredients:
2½ parts Flor de Caña 7 3 parts pineapple juice 1 part coconut cream
Directions:
Combine all ingredients in a blender. Add cup of crushed ice and blend on high until smooth. Pour into a tall glass and garnish with a pineapple wedge.
Malibu Pea'na Colada Malibu
Malibu Pea’na Colada
Ingredients:
1 ¼ part Malibu Original ¾ part Stoupakis Mastiha ½ part Coconut Milk ½ part Simple Syrup ¾ part Snap Pea Juice ½ part Lemon Pinch salt
Directions:
Whip with pebble ice, serve over pebble ice. Garnish with split pea and a lemon wheel.
Monkey Colada Monkey Shoulder
Monkey Colada by Vance Henderson
Ingredients:
1 part Monkey Shoulder 1½ parts fresh pineapple juice 1 part coconut purée ½ part coconut juice 1 part fresh lime juice 2 dashes angostura bitters 2 parts ice
Directions:
Add all ingredients in a blender. Blend until smooth.
I Like Pina Coladas Sailor Jerry
I Like Piña Coladas by Ashley Thomas
Ingredients:
1 part Sailor Jerry Spiced Rum ½ part coconut cream 1½ parts pineapple juice Fresh pineapple garnish
Directions:
Fill a shaker with ice cubes. Add all, shake vigorously and pour into a chilled highball glass filled with ice cubes. Garnish with fresh pineapple.
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7fe32e3d1041534b008afc3589f4ce6a | https://www.forbes.com/sites/chelseadavis/2019/07/24/15-healthyish-veggie-cocktails-to-celebrate-national-tequila-day/ | 15 Veggie Cocktails To Celebrate National Tequila Day | 15 Veggie Cocktails To Celebrate National Tequila Day
Who says all drinking has to be bad for you? From carrots and beets to bell peppers and kale, there are plenty of ways to incorporate vitamins and antioxidants into your next drink. With that said, here are 15 veggie-based cocktails perfect for celebrating National Tequila Day—cheers!
Carrot Ginger Sunrise
Carrot Apple Ginger & Cayenne Cocktail Sesión Tequila
“Carrot, apple and ginger is such a modern classic. The sweetness of the apples means you can add a little bit of heat with the pepper for a zesty pick-me-up," says Geraint Coles, Mixologist for Sesión. "Sesión Reposado works great in this, as the mellowing nature of resting the tequila in oak brings out all the warming flavors of the ginger and chilli without adding any extra heat. There are a wealth of health benefits from the vitamin A in the carrots, to the natural anti-inflammatory nature of the ginger—its a secret-weapon brunch cocktail for anyone looking for something other than a Bloody Mary”
Ingredients:
½ oz Sesión Reposado ½ oz Lime juice Bar spoon of honey Pinch of Cayenne pepper Top with 6 oz juice Garnish with smoked paprika salt rim, lime wheel, small chilli, carrot fronds
Directions:
Make juice by processing 3 green apples, 2 large carrots and a small piece of ginger (about the size of teaspoon) through a juicer. Fill glass with ice. Build drink in glass, adding 6 oz juice to remaining ingredients. Stir with bar spoon to chill and top with additional ice and juice, if desired. Garnish with smoked paprika salt rim, lime wheel, chili and carrot fronds.
The Good, The Bad & The Ugly
The Good, The Bad & The Ugly Cazadores
"I've worked in different bars and restaurants across the US and Mexico since the beginning of my bartending career," says Manny Hinojosa, Mixologist and Global Brand Ambassador, Tequila Cazadores. "I always like to bring the kitchen to the bars by using fresh ingredients, especially fresh seasonal vegetables and fruits that contribute a nice balance to the cocktail's flavor."
Ingredients:
1 1/2 Tequila Cazadores Blanco 1/2 oz Mezcal 1/2 oz Martini & Rossi Bitter 1/2 oz Lime juice 3/4 oz Bell pepper puree Lime and bell peppers for garnish Salt Rim (recommended: salt flavored with guajillo and pasilla chili peppers, hibiscus, sugar and lime)
MORE FOR YOUWhen Should A Band Start A Whiskey? Slipknot Knows
Directions:
Combine all ingredients in a double old fashion glass with ice. Shake and serve over ice. Garnish with slices of red bell pepper and lime, and rim with salt (optional).
Beetroot Bloody Mary
Beetroot Bloody Mary Cocktail Sesión Tequila
"This is a new take on a classic drink. Using juiced tomatoes (as ripe as possible) gives an extra health boost above using pre-made tomato juice which is reconstituted and often contains additives," says Geraint Coles, Mixologist for Sesión. "Tomatoes are also incredibly high in vitamin C, K, potassium, folate and lycopene—an antioxidant that has been linked to lower incidence of heart disease and cancer. The beetroot adds a sweetness and depth that along with adding gut health to the mix balances out with the spiciness of the Bloody Mary base, the herbs and spices of which add a range of anti-inflammatory and metabolic benefits."
Ingredients:
2 oz Sesión Blanco 1/3 oz Bloody Mary mix 1/2 oz Beetroot puree 4 oz Tomato juice (Roma tomato)
Directions:
Make Bloody Mary mix by combining 1 pint Worcestershire sauce, 2 oz soy sauce, 2 oz white wine vinegar, 1 tablespoon celery salt, 1 tablespoon crushed black pepper, 1 tablespoon horseradish, 1 teaspoon crushed chilies, 1 tablespoon smoked paprika, 2 cloves garlic, 1 handful of Thai basil, and 1 handful of cilantro. Add 1/3 oz of Bloody Mary mix and remaining ingredients to glass, add a few ice cubes and stir to chill. Top with additional ice and tomato juice to taste and garnish, if desired.
Avocado Dream
Avocado Dream Jasper’s Corner Tap & Kitchen
"Inspired by our neighbors to the south, the Avocado Dream is an homage to Mexican heritage. I started with two icons of Mexico culture: the avocado, that ancient Mesoamerican fruit, and mezcal, the original agave liquor," says Sergio Casas, Bartender, Jasper’s Corner Tap & Kitchen. "We puree the avocado in house, which adds a creamy texture that’s not too thick to overpower the mezcal. Smoky yet smooth with a slight kick of Serrano pepper, this drink evokes the spirit of Mexico."
Ingredients:
2 oz Fidencio Mezcal 1 oz Avocado Purée 1 oz Simple syrup Dashes of orange and ango bitters
Directions:
Shaken, double strained and poured over ice. Rim glass with Tajin and garnish with a lime wheel butterflied with a Serrano pepper wheel.
Mayahuel
Mayahuel Kevin Kramer
"What says summer more than sweet corn? Rum and tequila unite in this cocktail to pay homage to the Aztec Goddess Mayahuel creating a savory flavor profile with a little spice and a little sweetness," says Cody Webster of Popol Vuh. "With perfectly in-season corn, it’s just one more way to enjoy the bounty of the season.”
Ingredients:
1/4 oz Blanco tequila 1/4 oz Liquor 43 2 oz Rail white rum 1 1/4 oz Corn milk (juiced fresh sweet corn) 1/2 oz Lemon 1/4 oz Simple syrup 3-4 Basil leaves 2-3 Serrano pepper slices
Directions:
Shaken, strained into couple glass, garnish with smoked paprika.
Ottoman Cartel
Byblos Miami's Ottoman Cartel Byblos Miami
"The Ottoman Cartel was created for all tequila lovers that are looking to spice up their cocktail," says Melissa Reigle, Beverage Manager at Byblos Miami. "The spiced barberry reduction combined with beet soda will leave you with notes of sweet and heat to really freshen your palate with the guilt-free feeling of not drinking something filled with sugars and unhealthy additives.”
Ingredients:
3oz Beet soda 2oz Avion Silver Tequila
1oz Spiced Barberry syrup
1oz Fresh Lime juice
Directions:
Shake all ingredients together then strain into glass with regular ice. If you want to get fancy: garnish with a lime wheel and Marigold flowers.
Maria Verde
Maria Verde Milagro Tequila
“Milagro Tequila bridges the gap between old and new world Mexico, combining old traditions with new trends," says Jaime Salas, National Milagro Ambassador. "When creating the Maria Verde, I played off this by bringing in the unique flavor of tomatillo juice to highlight the freshness of Milagro’s flavor profile.”
Ingredients:
2 Parts Milagro Reposado 1 1/2 Parts jicama juice 1 Rib of celery 1 Part tomatillo juice 1/2 Part fresh lime juice 6 drops chipotle sauce (or to taste) A pinch of black salt
Directions:
Build in high ball glass with ice. Garnish with celery, cherry tomatoes and lime wedge.
El Altiplano Verde
Camarena's El Altiplano Verde Camarena's
“The combination of kale, cucumber, and spices can be found in modern cuisine around the world," says Chris Chamberlain, mixologist. "Using this combination within a cocktail perfectly complements the pronounced earthy green notes found within Camarena Silver, all while balancing its sour agave flavor profile with the fresh citrus flavors of both lime and lemon.”
Ingredients:
1.5 oz Camarena Silver Tequila 1 oz Fresh kale and cucumber juice 3/4 oz Fresh lime juice 1/2 oz Agave nectar Top with Q Sparkling Lemon
Directions:
Add ingredients (except Q Sparkling Lemon) into a cocktail shaker filled with ice, and shake together to combine/chill. Strain into a highball glass encrusted with Chipotle, and top with Q Sparkling Lemon.
The Arcadia
Arcadia Margarita CRUjiente Tacos
"The base of this cocktail is made with fresh cucumbers which is rich in nutrients and antioxidants including Vitamin K, promotes hydration and contains natural electrolytes," says Jason Morris, Co-founder and Beverage Director of CRUjiente Tacos. "The Arcadia is a refreshing, tequila sipper especially during the hot summers when you need to stay hydrated more and is well balanced with other vitamin-packed ingredients like cilantro, lime juice and jalapeño."
Ingredients:
2 oz 100% Blue Agave 3/4 oz Fresh lime juice 3/4 oz Agave simple syrup mix 5 Cilantro leaves 1/4 oz Fresh cucumber juice 2 Cucumber slices 1 Jalapeno slice
Directions:
Combine all ingredients, shake then pour.
Trust A Ginger
Trust A Ginger JAJA Blanco Tequila
"The cocktail contains both ginger and carrot, which are also a classic flavor pairing. They both have well-known healthy attributes," says Jim Kearns, Corporate Beverage Director, ACME, Golden Age Hospitality. "The flavors are bolstered by the earthy, spicy, herbaceous notes in the JAJA Blanco tequila."
Ingredients:
2 oz Jaja Blanco Tequila 1/2 Plantation OFTD 1 oz Carrot juice 3/4 oz Lemon juice 3/4 Ginger syrup 3 Spritzes of Reistetbauer Carrot
Directions:
Shake all ingredients, except Reistetbauer. Strain over Kold Draft in a rocks glass. Spritz Reistetbauer and garnish with a quartered carrot stick.
Doctors Orders
Doctors Orders Selina Highline Restaurant
"Hand selecting quality produce, like the carrots and pineapples, brings the freshness and balance to the cocktail, allowing the quality of the liquor to shine through," says Andrew Booth, Beverage Director Selina Highline Restaurant.
Ingredients:
2 parts Tres Agaves Reposado Tequila 1 part Spiced carrot cordial (freshly pressed carrot juice, chili salt, sugar) 1/2 part fresh pressed pineapple juice 3/4 part lemon juice
Directions:
Add all ingredients into a shaker. Salt half rim. Add ice, shake and strain. Add fresh ice. Use a small spray bottle to spritz mezcal over top and add garnish. Baby carrot garnish and Spiced Salted Rim (half tajin/half kosher salt).
Goin’ Green
Goin' Green The Westin Carlsbad Resort and Spa
"The blend of these fresh ingredients offer a refreshing, healthy combination of summer produce paired with the earthy spirit of Tequila," says Beverage Director Stephen George at 20|Twenty Grill at The Westin Carlsbad Resort and Spa.
Ingredients:
1 1/2 oz Azunia Blanco Tequila 2 Cucumbers 4 Slices fresh ginger 1 Golden beet 2 Yellow Tomatoes 1/2 Avocado Hand full of cilantro 2 oz Lime juice 2 oz Agave nectar Club soda
Directions:
Juice produce. Blend avocado, cilantro, lime and agave. Mix the two with tequila and top with club soda. Garnish with cucumber, an avocado slice and cilantro.
Cold Pressed Carrot and Peach Cocktail
Barrio Carrot Juice Morgan Scofes / DineAmic Hospitality
"Served every weekend, Barrio's brunch menu's three juices—Red Beet, Carrot and Kale—are created using the freshest ingredients with additional fruit and vegetable extracts for added health benefits and flavor. A popular combination is Barrio's Carrot juice and Casamigos tequila, achieving a healthyish, delicious tequila cocktail."
Ingredients:
2 Cups carrots roughly chopped 1 tbsp Wwhite peach juice 3/4 Cup ice cubes 2 Cups water 1 tsp Fresh ginger peeled 1 tsp Fennel
Directions:
Add all the ingredients into a juicer, then pour in 1.5 oz of Casamigos tequila.
La Playa Verde
La Playa Verde Popol Vuh
"This drink is perfect for any season, but especially the dog days of summer. It's bright, savory, deep, and refreshing," says Cody Webster of Popol Vuh. "It compliments any brunch dish or is easily a patio pounder. Fresh celery juice, the minty Chareau Aloe Liqueur, and lime balance out the depth of smoky mezcal and spicy black pepper. The La Playa Verde is a health drink in disguise!”
Ingredients:
1 1/2 oz Tequila 1/4 oz Chareau Aloe Liqueur 1 oz Fresh celery juice 1/2 oz Black pepper simple syrup 3/4 oz Lime juice
Directions:
Shake, strain into collins glass, mint sprig garnish
Good Morning, Jalisco
Good Morning, Jalisco Legacy Hospitality group
"I love using beet juice because not only is it still a surprisingly delicious treat for many people that would shy away (if not for a friendly nudge from your knowledgeable bartender!), it is also full of natural antioxidants," says Kim Riordan, beverage director for Legacy Hospitality group in Chicago. "Beet juice is great for your liver, your stamina, it lowers cholesterol.... I mean- who doesn’t want a reason to feel better about the boozy indulgence in which you are partaking?"
Ingredients:
2 oz blanco tequila 3/4 oz beet juice 1/2 oz house made Spicy Ginger shrub 1/2 oz freshly squeezed lime juice 1/2 oz Masala Chai spiced simple syrup
Directions:
Shake all ingredients and strain over crushed ice in a rocks glass. Garnish with a slivered beet oval.
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b564f0d8ba242f53215c13e9a87ad256 | https://www.forbes.com/sites/chelseadavis/2020/04/08/minibar-delivery-hits-all-time-sale-highs-while-helping-mom-and-pop-shops-amid-covid-19-pandemic/ | Minibar Delivery Hits All-Time Sale Highs While Helping Mom And Pop Shops Amid COVID-19 Pandemic | Minibar Delivery Hits All-Time Sale Highs While Helping Mom And Pop Shops Amid COVID-19 Pandemic
Minibar Delivery app Minibar Delivery
We’ve seen the quarantine memes about us all becoming alcoholics amid the COVID-19 pandemic, but joking aside, those looking to stay buzzed during the crisis couldn’t be luckier given the rise of on-demand alcohol delivery. While many restaurants and businesses are taking major losses during this time of uncertainty, alcohol delivery is thriving with companies such as Minibar Delivery seeing a 515% increase in new buyers since the pandemic began.
According to Lindsey Andrews, co-founder and CEO of Minibar Delivery, the on-demand liquor industry changed dramatically once quarantining became our new reality. Since March 11th, the day the news of the travel ban and NBA season cancellation hit the air, the company has seen an enormous increase in both overall sales and in average order size, making it clear that Americans are not simply buying more booze during the crisis, but buying at larger quantities. As of April 7, Minibar Delivery’s overall sales went up 139%, with an increase in average order size up 22%.
Lara Crystal (left) and Lindsey Andrews of Minibar Delivery Kimberly Mufferi
“While on-demand alcohol delivery had certainly gained attention and popularity over the past couple of years, this number is an indicator that it’s about to become more prevalent as new users continue to be introduced to its conveniences,” says Andrews.
Minibar Delivery is in a unique position to both capitalize on the market, but also play an impactful role in helping mom and pop liquor stores stay afloat during the pandemic. Given that the company’s partners are roughly 90% smaller businesses, they’ve been able to successfully increase their business and that of those who otherwise may be forced to fold.
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Alcohol delivered Minibar Delivery
We interviewed (via email of course!) Andrews on the start of the company; how the pandemic has effected business; their ability to help smaller businesses; national liquor trends and more. Here’s what she had to say.
How did Minibar Delivery start? What was the impetus and what pushed you to turn a mere idea into a profitable business?
The idea for Minibar Delivery was born one night during Takeout Tuesday. My co-founder, Lara Crystal, and I would meet at my apartment every Tuesday to brainstorm business ideas. One Tuesday… disaster, we ran out of white wine. We figured there must be an easy way to get wine delivered much like we had gotten our Thai food delivered. But to our surprise, there was no easy way to push a button and get your alcohol delivered.
While food delivery has been a staple of a consumer’s at-home routine, we quickly realized that this model had yet to be applied to the liquor industry, and it also happened to be an industry that hadn’t seen innovation in a long time due to its antiquated distribution model. We both were working in ecommerce at the time, Lara was at Rent the Runway and I was at Amazon subsidiary Quidsi, and both had an entrepreneurial mindset. We had seen first-hand what it took to build an ecommerce business, thus in 2013 we hit the ground running.
Since COVID-19 permeated U.S. conversation, has your business needed to adapt or change to meet demand?
The on-demand liquor industry pretty much changed overnight once COVID-19 became a reality here in the U.S. As the technology that connects liquor stores to local customers, we’ve needed to adapt to the unprecedented influx in business. This has required us to quickly add new stores to help with the soaring demand as well as to help independent liquor stores find consumers online as their foot traffic declines.
Additionally, customer service has always been top priority at Minibar Delivery, and that remains true during this unpredictable and unprecedented time. But with the increased volume, we’ve prioritized hiring new support staff as well as dedicating much of our tech resources to building new tools for our customer service team to help them manage the influx of requests.
Our team is working (remotely) around the clock to ensure that customers are aware of current inventory, delays in delivery times and tips on how to make deliveries as contactless as possible.
Obviously this has greatly impacted mom and pop liquor stores and smaller shops. How has Minibar Delivery helped them out?
Since we launched Minibar Delivery, at least 90% of our liquor store partners have been mom and pop shops and small businesses. We’ve been able to help those retailers during this time, since the increase in our business directly affects their business as well.
Since shelter-in-place and stay-at-home orders have affected major cities across the country, we’ve seen a 7x increase in inbound requests to join the Minibar Delivery platform - and 95% of those have been small or family owned businesses. We are working diligently to ensure that all of these requests are responded to and set up in a timely manner.
Right now, our team is able to turn around requests within 48 hours so we're able to get these mom and pop shops up and running on our platform as quickly as they're able to.
What have been the most popular items sold? What trends are you seeing?
Nationally, wine continues to be the most popular category for on-demand delivery, although we have noticed an upward trend within the hard liquor category. As virtual happy hours and get-togethers have become the norm, cocktails and mixology are growing in popularity. Top selling products include Oyster Bay Sauvignon Blanc, La Marca Prosecco, Tito’s Handmade Vodka, Lagunitas India Pale Ale, Bulleit, Johnnie Walker, Casamigos and of course, White Claw.
In terms of additional insights, we have seen some unique regional trends. For example, Washington D.C. seems to have a preference for the finer spirits, opting for more top-shelf offerings than other cities. For example, the top selling product within their wine category is Veuve Clicquot (over a traditional red or white) and the top scotch sold in the market is The Macallan (over the national top seller of Johnnie Walker). Those in Los Angeles have a more eclectic palate. The top two scotch brands ordered are Japanese in origin - Hibiki and Yamazaki.
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84f1b806e6dcc5b745e057edd8808aad | https://www.forbes.com/sites/chelseadavis/2020/04/15/helping-hands-the-bay-areas-grassroots-response-to-covid-19/ | Helping Hands: The Bay Area’s Grassroots Response To COVID-19 | Helping Hands: The Bay Area’s Grassroots Response To COVID-19
What do you get when a determined group of current and former employees of big tech companies such as Google, Facebook, Lyft, WhatsApp and Uber decide to team up to make a difference in local communities during the COVID-19 crisis? Helping Hands, a new non-profit created in response to the need for able-bodied, willing volunteers to help vulnerable individuals get groceries and other essentials during the pandemic.
A volunteer helping during the pandemic. NurPhoto via Getty Images
“Reaching people requires a combination of grassroots organizing at the local level, and a sophisticated technical product that connects people in the digital world to have impact in the physical world,” explains Jeff Miller, CEO of Helping Hands.
“We’re lucky in that much of the Helping Hands team — engineers, designers, marketers, and operations — are current or former employees of Uber, Facebook, Google and other tech companies that have solved similar problems at scale.”
The organization’s purpose is to help those struggling the most during a time when they can’t help themselves. Namely the elderly, at-risk, sick and immunocompromised.
Helping Hands officially launched two weeks ago and since launch, the non-profit has over a thousand volunteers sign up across the country, according to Miller. The organization has successfully helped individuals throughout the country, from San Francisco and Los Angeles, to Austin and Chicago, and all the way to Boston.
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“Like most marketplaces, it will improve with scale,” continues Miller. “As more people, both volunteers and those with needs, learn about and sign up for Helping Hands, the platform will get better and better at matching needs with volunteers.”
Helping Hands' website Helping Hands
We interviewed via email Miller on how Helping Hands is using current technology to come to the aid of a primarily offline demographic in need. Here’s what he had to say.
Was it difficult getting this non-profit off the ground?
As with any new concept or idea, aspects of getting Helping Hands off the ground have been challenging. There are both technical and tactical challenges that come with connecting people in-need with volunteers that are willing and able to help. Reaching people requires a combination of grassroots organizing at the local level, and a sophisticated technical product that connects people in the digital world to have impact in the physical world.
We’re lucky in that much of the Helping Hands team—engineers, designers, marketers, and operations—are current or former employees of Uber, Facebook, Google and other tech companies that have solved similar problems at scale.
What has the reception been like?
It’s been incredible to see how many people have reached out and expressed interest in joining hands in this effort. In just a few weeks, the core Helping Hands team has grown to more than 70 volunteers. It is a true multi-disciplinary team from around the world.
We’re also seeing an outpouring of support from local communities. Individuals from across the country have signed up to volunteer, and community members with acute needs are getting them met through the platform. We’ve heard from dozens of other nonprofit and for-profit businesses in the US and around the world in places like the UK, Ireland, Canada and South Africa who are already creating similar delivery services within their community and want to partner with Helping Hands as a way to supercharge their efforts.
How is Helping Hands leveraging technology in this day and age to help a largely offline demographic in need?
Helping those that may not be as familiar with technology is critical to us at Helping Hands. We tried to make our website as easy-to-use and clear as possible, so that those in-need who do use computers will be able to navigate our site on their own.
We’ve also added a special feature to our platform that allows loved ones to place orders on behalf of a friend, neighbor or relative. This will be one solution to ensuring that offline demographics can benefit from our platform, but we also know this is not enough.
We have a smart team that is spending quite a bit of time exploring new ways to serve offline communities, including over-the-phone request options, community partnerships and much more. We’re still at the beginning of this important journey.
Will Helping Hands continue as a non-profit after the pandemic?
The underlying technology we're building could be used for many use cases. At its core, we’re building a tech platform that connects people who need help with volunteers looking to give it. Locally. At scale. While we're fully focused on a response to the pandemic right now and will be for the foreseeable future, if and when COVID-19 is behind us we'll explore other ways to apply our technology for the greater good.
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507b1fd6d406d50be0cca496ab36f6f8 | https://www.forbes.com/sites/chelseadavis/2020/06/30/3-black-wine-experts-on-diversity-representation-and-inclusion-within-the-industry/ | Black Wine Experts On Diversity, Representation And Inclusion Within The Industry: Part One | Black Wine Experts On Diversity, Representation And Inclusion Within The Industry: Part One
AFP via Getty Images
Since the death of George Floyd, people have come together in solidarity protesting, campaigning, donating and more in the name of ending the systemic racism found within the fabric of our society. Seen and unseen, many industries are riddled with inequality, along with an evident lack of diversity. Beyond monetary transactions, a crucial way to support Black-owned businesses is to listen to the experts in their fields who are changing the status quo—leaders who seek ways to make sustained, meaningful change within their wheelhouse.
We spoke to three Black wine experts on their journeys within the industry. From confronting and overcoming social biases and racial injustice to amplifying Black voices on matters of race, representation and inclusion in every aspect of the wine world, here is what they had to say.
Theodora Lee, Owner and Vintner, Theopolis Vineyards Theopolis Vineyards
Theodora Lee, Owner and Vintner, Theopolis Vineyards
What initially got you interested in the wine industry and what was the catalyst in turning that into a career?
My interest in the wine industry began when I moved to California in the 1980s. When I began practicing law in the 80s, if I needed a law firm partner to review a legal document, I would drive it to that partner’s weekend home. While the partner reviewed the brief, I would be invited to stay for dinner, fine wine and could walk the vineyards. I envisioned owning my own vineyard, which would allow me to combine my love for farming and the outdoors, and become a grape farmer. I fell in love with the wine lifestyle—great wine, great food and being out in the vineyard.
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My dream of being a grape farmer came to reality in 2003 when I planted 5 acres of grapes. Initially, I sold my Petite Sirah to Carlisle Winery, Halcon Vineyards and a few other premium wineries. I was quite content simply being a grower. Then, in 2012, an ill-timed rain fell during harvest and I rushed to pick my grapes at 23 brix. The buyer at that time (no longer Carlisle) had contracted for grapes at 25 brix, so they rejected the entire lot.
Faced with no one willing to purchase fruit at a lower brix level at the last minute, I decided to have my fruit custom-crushed. I then bartered to get the wine produced. Specifically, I gave the winemaker half of my harvest for free, if, in turn, he would process the other half and make my wines. So, that 2012 vintage was bottled in 2014.
Fortunately, my 2012 Petite Sirah received a gold medal from Sunset Magazine and soon thereafter, Theopolis Vineyards was underway. Since then, we have consistently produced 90 + point, Best in Class, Double Gold and Gold Medal wines.
What types of barriers have you experienced due to race and how did you move past them? What’s your advice to others who may be experiencing the same things?
Well, unfortunately, racism exists in every facet of society, and the wine industry is no exception. The wine industry is a white male dominated one. I have faced barriers finding distributors and getting my wines in high end restaurants and wine bars. However, as a lawyer, I have been fortunate enough to overcome many of these barriers by having my law firm partners introduce me to restaurant and bar owners, and that introduction has facilitated me overcoming those hurdles.
I am happy to state that our wines are carried in some of the finest restaurants in the San Francisco Bay Area. I believe in hard work and grit and I never give up. My advice to others is that you must be persistent, persevere and keep going until you get what you deserve. Even though I produce award winning wines, distributors still reject doing business with me.
Recently, one distributor told me he questioned the marketability of one of my varietals. Despite consistent rejection, I keep pounding the pavement. Earlier this year, Southern Glazer's, a premier beverage distributor for world-class wines, picked up our wines for distribution in Florida thanks to the demands of a prominent Florida Restaurant Group. So, as mentioned above, you must be like a dog with a bone and keep pushing.
The number of Black winemakers, winery owners and professionals is comparatively low. What do you think wine companies can be doing better to raise awareness and amplify Black voices in the industry?
To compact racism in the industry, we need to build cultural bridges and have a candid conversation about race. We must confront passive racism, educate everyone about Black history and create diverse and inclusive environments that stand against racism. Wine companies, like every major company in America, need to revisit their anti-discrimination and harassment policies to reiterate a Zero tolerance, train employees, and establish a strategic diversity and inclusion initiative.
Currently, there has been an outpouring of support for Black winemakers, Black winery owners and Black wine professionals. Let’s hope this outpouring of support can be sustained, and is not just a moment, but a momentum. To raise awareness and amplify these Black voices, there must be continued exposure and financial support.
For example, Cooper's Hawk has established a Scholarship for Black American Wine Professionals. The scholarship is designed to assist Black Americans who are passionate about pursuing a career in the wine industry. Also, larger wineries and other wine businesses should support the Association of African American Vintners.
A major issue in the wine world is the lack of diversity. Beyond that, and perhaps more importantly, is that oftentimes even when diversity quotas are met the foundation and support system to help people of color isn’t sufficient enough to ensure lasting success in the industry. What needs to change?
I believe outreach is the key to diversity in the wine industry. Indeed, there are many highly qualified wine professionals available. However, what is the industry doing to uplift and connect with those highly qualified professionals? Perhaps, the industry should consider the Rooney Rule, which is a National Football League policy that requires league teams to interview ethnic-minority candidates for head coaching and senior football operation jobs. It is an example of affirmative action, even though there is no hiring quota or hiring preference given to minorities, only an interviewing quota.
When it comes to inclusivity in both tasting rooms and the industry side of things, Black people, particularly Black women, are marginalized. If there was one thing that you could set the record straight on, what would that be?
As a Black woman who owns her own winery, when I show up to trade shows or to restaurants or distributors to pitch my wines, most people assume I work for the winery. When I tell them I am Theodora Lee, the owner and vintner of Theopolis Vineyards, they are shocked. However, I persevere and the award winning wines speak for themselves.
To set the record straight, I want everyone to understand that Black women are the backbone of the Black community and were key contributors to the civil rights movement, and will be critical in creating a diverse and inclusive environment in this and every industry. We will not be denied. We are leaders and deserve a seat at the table.
Given America’s current state, people are looking more than ever to support Black businesses, wineries and restaurants. In what ways do you think owners and industry leaders could best contribute to this shift to ensure it remains a conscious effort in people’s minds going forward?
In light of the COVID-19 pandemic, the protests in the wake of the senseless death of George Floyd, and the growing momentum of the Black Lives Matter movement, I believe we have a watershed moment of change. Indeed, on Blackout Tuesday, there was an intense focus on not only Black lives, but Black businesses. As a result, wine sales for Theopolis Vineyards have skyrocketed. Indeed, there has been a massive increase in online sales as everyone is promoting Black businesses and urging support.
The question is whether this is a moment or a momentum. I am optimistic and hopeful. However, we need to stay in the limelight and have proper exposure to remain in the consciousness of everyone going forward. Social media has helped to push this focus on Black business, wineries and restaurants, and we need everyone to keep spotlighting these Black owned businesses, and then “put your money where your mouth is.” Without sustained economic support, Black businesses, like any other business, cannot survive.
Further, I believe industry leaders need to work with the Association of African American Vintners, and help our small wineries not only survive, but thrive through small business loans, partnerships, and the hiring and promotion of qualified Black wine professionals.
On the flip side, do you have advice to consumers who want to support Black-owned businesses, progression and inclusivity past monetary transactions?
I am happy to state that consumers have embraced Theopolis Vineyards, and have not only purchased our wines, but have taken to social media to support and endorse our brand. These are consumers from all walks of life and all ethnic groups. To create long-term and sustainable change for diversity and inclusion, we need consumers to continue buying our wines.
Additionally, we need consumers to introduce our wines to their friends and work colleagues. Until there is a vaccine for COVID-19, we need consumers to host virtual tastings featuring African American winemakers. We need consumers to look at themselves in the mirror and own their unconscious biases and work to overcome those biases.
We need consumers to see Black wine makers as producers of fine wine and not some affirmative action project. We need consumers to take us seriously, purchase our wine and support organizations that promote social justice and inclusion. We need consumers to tell retailers to carry our wines.
Brenae Royal, Ranch Leader, Monte Rosso Vineyard, E. & J. Gallo Winery E. & J. Gallo Winery
Brenae Royal, Ranch Leader, Monte Rosso Vineyard, E. & J. Gallo Winery
What initially got you interested in the wine industry and what was the catalyst in turning that into a career?
I became interested in wine by drinking it! In my last year of college, I started drinking Apothic Red and that immediately sparked my interest in learning how to farm it. I have a degree in Crops and Horticulture Science, and while I had never worked with grapevines, I had a strong foundation in farming and knew I could learn viticulture.
At the last career fair in my senior year, I stumbled upon E. & J. Gallo’s recruiting table and there was a magnum of Apothic on the table as a display. I ran up to them to hear about the internship opportunities. Not too long after that, I interviewed and was hired, just one week from graduation, as a vineyard operations intern. That lead me to where I am today.
What types of barriers have you experienced due to race and how did you move past them? What’s your advice to others who may be experiencing the same things?
I haven’t encountered barriers because of race per se, but it is well known that Black people are underrepresented in the field of agriculture. So, I guess it could be looked at as a barrier because there isn’t anyone on my immediate team that looks like me. And that can be daunting. I grew up being one of the few or the only person of color, whether that be when I was in FFA, band or sports.
Early on, I saw it as an advantage because I stood out. And even though I stood out, it wasn’t a negative thing. My advice for anyone who has a similar experience would be to find support with your colleagues. Even though I cannot relate with everything my coworkers do, I feel supported. Don’t let the notion of standing out hold you back.
The number of Black winemakers, winery owners and professionals is comparatively low. What do you think wine companies can be doing better to raise awareness and amplify Black voices in the industry?
I think the best way to amplify Black voices is to hire Black voices. Wine companies should look for and find opportunities to increase diversity in all areas of the business, including management. Create space and opportunities for more diversity in your organization and recognize the value you add by doing so. It’s not just a diversity and inclusion opportunity, but a business opportunity as well.
A major issue in the wine world is the lack of diversity. Beyond that, and perhaps more importantly, is that oftentimes even when diversity quotas are met the foundation and support system to help people of color isn’t sufficient enough to ensure lasting success in the industry. What needs to change?
More diversity is needed across many organizations and many industries. You need diverse talent in order to hire, retain and promote a diverse team. This also means offering critical trainings around unconscious bias, micro aggression, overt and covert racism… etc. Companies need to see the value of adding team members that do not look, think, or act like them. It’s very comfortable for people to work alongside others that have the same views, but the opportunities for growth personally and professionally are limited when doing that.
When it comes to inclusivity in both tasting rooms and the industry side of things, Black people, particularly Black women, are marginalized. If there was one thing that you could set the record straight on, what would that be?
I would use this as an opportunity to engage in a conversation about wine. Ask me questions, the same you would any wine drinker. Don’t judge me based on the color of my skin. Don’t assume I am uneducated about wine or like only sweet wine. Black women drink wine and if we don’t know about something, or want to learn something new, we ask.
Given America’s current state, people are looking more than ever to support Black businesses, wineries and restaurants. In what ways do you think owners and industry leaders could best contribute to this shift to ensure it remains a conscious effort in people’s minds going forward?
I think people need to support businesses because they are good, you want to be there, and there’s a great product being offered. Industry leaders that have major platforms can use this opportunity to promote these businesses with positive reviews and thoughtful attention. Move away from any stereotypes that may be associated with something being Black-owned and support it because it’s a legitimately good business and the services are great.
On the flip side, do you have advice to consumers who want to support Black-owned businesses, progression and inclusivity past monetary transactions?
Tell your friends, colleagues, and everyone about the experience you had. Recommend these businesses. Write reviews. Take your business meetings there. Word of mouth is one of the most effective ways you can a promote businesses you like and appreciate.
Marvina Robinson, Owner, Stuyvesant Champagne Stuyvesant Champagne
Marvina Robinson, Owner, Stuyvesant Champagne
What initially got you interested in the wine industry and what was the catalyst in turning that into a career?
I actually did not set out to be in the wine industry. I am opening a champagne bar (now on pause due to COVID), in which I wanted to have my own private label champagne. As I began the research and process I became more intrigued and made the decision to expand the brand to retail.
What types of barriers have you experienced due to race and how did you move past them? What’s your advice to others who may be experiencing the same things?
At some events I've attended, the room lacked diversity with only two to four Black professionals in the room in which I am sometimes the only Black female present. When I first started out, I was shunned here and there or I was told you cannot have your own champagne brand, it's not attainable (by one specific individual).
I literally looked at this person, with a straight face and sarcastically said, “OK” but in my head I was saying "you evidently do not know me." Comments like that further motivate me, I believe all goals are attainable some may have more obstacles and take a little longer but never give up.
The number of Black winemakers, winery owners and professionals is comparatively low. What do you think wine companies can be doing better to raise awareness and amplify Black voices in the industry?
I believe larger wine companies can use their platforms (in which some are doing now) to highlight Black winemakers, owners and professionals, help inform consumers who might not have known about the Black voices in the industry.
To be honest, sometimes it is the companies with the larger platforms to educate consumers. I personally reached out to certain companies about B. Stuyvesant Champagne and no response, only recently have I began to receive responses, write-ups and acknowledgement.
A major issue in the wine world is the lack of diversity. Beyond that, and perhaps more importantly, is that oftentimes even when diversity quotas are met the foundation and support system to help people of color isn’t sufficient enough to ensure lasting success in the industry. What needs to change?
I despise that the color of my skin puts me in a "quota" category. If it can exist, be color-blind, just embrace a fellow wine professional. I personally do not care what your ethnicity is. I just want swap knowledge, learn from others and share my views and knowledge on the industry. I'm open to partnerships, bridge the gap and help educate many on the wine industry.
When it comes to inclusivity in both tasting rooms and the industry side of things, Black people, particularly Black women, are marginalized. If there was one thing that you could set the record straight on, what would that be?
From a Black woman perspective, we are not insignificant, versus judging by one’s physical attributes take the time to have an open conversation and do not speak down to us as if we are not intelligent.
To share a personal experience, I attended a professional conference and was making my way around the room, I ended up in a conversation with two gentlemen. There are times that I am so excited and enthused about a topic that I stutter, the gentlemen made the poor decision in thinking I did not know how to pronounce a word and made a bad joke.
I quickly had to correct him, educate him professionally and highlight where he made the conversation condescending. There should be no pre-judgements and we are all in the same industry, learning and educating. Nobody knows everything.
Given America’s current state, people are looking more than ever to support Black businesses, wineries and restaurants. In what ways do you think owners and industry leaders could best contribute to this shift to ensure it remains a conscious effort in people’s minds going forward?
This is not a fad. Black businesses and wineries are not going anywhere. We have always existed and it would be great that industry leaders and consumers keep this same energy! In my opinion, it is harder for a Black business to open, remain open, eventually expand and succeed. So yes, support Black businesses and pertaining to the wine industry awareness of Black owned wineries just began, we are small but growing… we need to enhance the diversity of the wine industry.
On the flip side, do you have advice to consumers who want to support Black-owned businesses, progression and inclusivity past monetary transactions?
For consumers who want to support Black-owned businesses, like Nike's slogan "Just Do It". In addition to monetary support, talk about Black owned businesses, post pictures, articles, referrals, and leave a review. Stores such as Target, Amazon, Walmart, Costco, BJ's, Sam's Club (just to name a few) expand out and carry additional Black owned products.
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0e76fdcc35f5afc6809180c83024101b | https://www.forbes.com/sites/chelseadavis/2020/10/23/san-franciscos-la-mar-cebichera-peruana-staying-power-on-the-embarcadero-waterfront/?sh=6a4ae0a83c89 | La Mar Cebichería Peruana’s Staying Power On The San Francisco Waterfront | La Mar Cebichería Peruana’s Staying Power On The San Francisco Waterfront
A selection of dishes from La Mar. Nader Khouri
Peruvian restaurant La Mar Cebichería Peruana has been a mainstay on San Francisco’s Embarcadero waterfront for over 12 years now. As world-renowned Chef Gastón Acurio’s first La Mar outpost in the United States, it pays homage to what is known as one of the keystones of Peruvian cuisine: cebiche, and the environment created to enjoy it in, the cebichería.
Under the direction of Executive Chef Victoriano Lopez, Chef Acurio’s menu brings the flavors, textures and complexities of both traditional and authentic Peruvian food to life while incorporating his own Peruvian roots and heritage and expertise as a passionate chef.
Cebiche Clasico at La Mar. Nader Khouri
“La Mar is the perfect balance of traditional dishes and modern interpretations,” explains General Manager Thomas Medl. “The cebiche clasico, the lomo saltado will always be our go to traditional dishes, but we love to use local ingredients such as halibut, spiny lobster, Dungeness crab and mix them with Peruvian flavors. The food we serve is very versatile.”
Peruvian cuisine has been an emerging food trend for the past 7-8 years, explains Medl. La Mar opened in the city before it really became a trend and now Peruvian food has expanded across the Bay Area allowing diners to enjoy a Pisco sour with cebiche, for example, with relative ease.
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La Mar cocktails. La Mar
We chatted with La Mar Cebichería Peruana’s General Manager Thomas Medl on the restaurant’s 12th anniversary, menu and stand out dishes, COVID’s impact on the business and more. Here’s what he had to say.
You recently celebrated La Mar's 12 year anniversary on the Embarcadero—what are some things you attribute to the restaurants lasting success and impact in such a cut throat industry?
Our food never gets boring, we have a great chef with Gaston Acurio and we have great local chefs who support the restaurants and work with local purveyors and ingredients to keep it fresh and moving. The balance of traditional dishes and modern twists keeps us exciting and refreshing.
La Mar table spread. Nader Khouri
Moreover, our menu is expansive and you can come back over and over again and never eat the same food. Another compelling point is our location, 10 years ago, the Ferry Building wasn't what it is now, so we greatly benefit from the increased visitors to the Waterfront area. And who can pass up on our exciting happy hour with expertly made Pisco sours and empanadas?
What are the various influences on the menu and do you tend to lean more towards classic Peruvian cuisine or do your signature dishes have more of a modern twist to them?
You can have 5 different people with 5 different wishes coming to our restaurant and we will be able to fulfill them all. You want traditional Peruvian, check, you want modern Peruvian, check, you want raw seafood Japanese style, check, you want a Latin cebiche check, you want meat skewers or empanadas, check, you want vegan options check.
A variety of cebiches. Mistey Nguyen
Peru has 127 microclimates, from the Andes and grains and meats from high elevations to the jungle in the Amazon, to the dessert and to its 3000 miles of coastline, you can see that the variety is just abundant and that's what you see on our menu. People who like culinary arts are usually blown away by what we bring to the table and the flavors they experience here.
What are some standouts on the menu that people not familiar with Peruvian food must try?
Our cebiche clasico is most probably the most popular dish. The cubed, raw white fish (usually halibut or white seabass) is marinated in a citrusy mix and is bright with a nice kick from the habanero and the salt that we add balances these flavors. With the buttery fish, the citrus marinade provides the perfect balance and the sweet corn and roasted sweet potato are the perfect accompaniments. There is the Colita (tail) of either seabass or halibut, grilled and served with our chimichurri and pachikay (a pepper emulsion), garlic chips and chaufa rice (wok-fried rice) with an egg tortilla - the most decadent seafood dish you will ever have and perfect to share between a few friends.
Conchitas Picantes. Mistey Nguyen
The dish I currently get most excited by is our Wagyu skirt steak nigiri. The meat is laid on a bed of rice, torched with high heat for a short amount of time, then we use lomo juice and top it with a quail egg and citrusy onions. The richness of the dish just melts together. Unreal. And then you get a small bite from the citrusy onions, just heaven on earth.
How has La Mar had to pivot since COVID? Has there been any silver linings to how your restaurant has evolved since the pandemic?
Just like everyone else, we closed our doors for about 3 weeks to really figure out what was going on and we could see that we were going to be closed for a while so we began creating family dinners and very traditional meals for those that were hunkered down at home. We quickly realized that this is not who we are and we returned to the La Mar SF that we were known for and people really wanted. And then we started to try out home cooked meals, cocktails to go, large family meals.
La Mar Cebichería Peruana outdoor dining. Copyright © Velarde Photography. All rights reserved.
Ultimately what we really learned from this is that people did not want any other food than our own and it showed us to really stick to what we do best. So we brought back what we had and people reacted positively and brought us back on track. As we are located right on the water, we used our location and placed a stand with a grill right in front of our restaurant and started to become a street food vendor with great drinks to the folks who would come down to the Embarcadero to enjoy themselves.
I think it was really important that we never really closed our doors and evolved with the community together during this pandemic. We were there for them and they were there for us, we have made many new friends during this time and its great to see that we could develop such an extraordinary take out program, without Covid that would have not been possible.
You now offer at home catering. Talk about what's offered and why this is a new thing?
The home catering was something that was requested by our customers, so it came quite organically. We just reimagined our dishes into bigger portions and better packages. We also wanted to anticipate the reopening of the offices in the FiDi and be ready to cater to those office workers who are not quite ready yet to go outside but wouldn't mind sharing a meal amongst themselves. The idea really was that for $350, 10 people could share a box of cebiche, empanada, and more varied styles of Peruvian cuisine that don't break the bank and still receive sushi-grade fish and high-quality ingredients.
What can guests expect dining in and out at La Mar now?
First and foremost, the safety of our staff and customers is paramount. We have created rules and regulations for everyone to adhere to and we strictly enforce those. However, we still also want you to come here and enjoy yourself and escape the reality of what we are all living in right now. We want you to enjoy the great food and drinks with your friends and colleagues. We have daily and weekly specials and our SF Executive Chef Victoriano has been a fountain of creativity, so we are very excited about what we are offering and serving.
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470808fbecd8e48fdf271c0da808840e | https://www.forbes.com/sites/chelseadavis/2021/01/05/sees-candies-is-celebrating-100-years-and-wants-to-know-what-your-sweet-idea-is/?sh=5737d18a5895 | See’s Candies Is Celebrating 100 Years And Wants To Know What Your Sweet Idea Is | See’s Candies Is Celebrating 100 Years And Wants To Know What Your Sweet Idea Is
See’s Candies exterior. See’s Candies
As someone who grew up running to the local See’s Candies excitedly anticipating samples of my absolute favorite chocolates, I couldn’t be more excited to hear that See’s is celebrating its 100-year anniversary with the launch of “What’s Your Sweet Idea?” – a first-ever contest asking fans what they think See’s next candy piece should be.
Now through January 20th, fans can submit their ultimate candy creation online. See’s team of R&D experts will sort through submissions and pick the top candies for final voting which will be held from February 15 through March 1.
“We couldn’t think of a better way to kick off our Centennial year than by involving See’s great customers. They are the reason we are in business 100 years later, and we are excited to hear their ideas,” said Pat Egan, President & CEO, See’s Candies. “We will create the chosen candy by fans as our November piece, which is also the same month that Mary and Charles opened for business in 1921.”
See’s Candies See’s Candies
For those who haven’t tasted the deliciousness of See’s, here’s some background info. See’s started back in 1921 when Mary See and her son Charles, moved to Los Angeles. Charles had dreams of opening a chain of chocolate shops using his mother’s recipes and when they finally opened up their first shop at 135 Western Avenue North, it was an instant hit.
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Her original recipes are still being used today and include the classics Peanut Brittle, Chocolate Walnut Fudge, Victoria Toffee, Hand-Dipped Bon Bons, and Maple Walnut Creams.
See’s Candies See’s Candies
See’s quickly became known for its welcoming customer experience and continued to innovate as it grew in popularity. See’s began delivering candy by mail in 1922, long before e-commerce was a thing, and in 1928 See’s offered the first motorcycle delivery service in Los Angeles.
By 1958, the candy company made history as the first confectionary business to receive melted chocolate at their factories via tanker truck, a method still used today. One hundred years later and there are over 240+ iconic shops domestically and internationally.
We chatted with Pat Egan, President & CEO, See’s Candies on its Centennial Anniversary, celebrations, success and what’s in store for the company. Here’s what he had to say.
See's is celebrating 100 years this year! What are some of the top things you attribute this success to?
There are two things that we attribute See’s 100 years of success to: our team makes the best candy on planet. And we have dedicated customers. Since 1921, our motto has been Quality Without Compromise. All of our candies are made with the finest and best ingredients with no preservatives added. And of course we wouldn’t be here 100 years later if it weren’t for our customers.
See’s Candies See’s Candies
They are the reason we are so focused on making the highest quality candy, continue to innovate, and expand to new locations. We love being part of their traditions and seeing multi-generational families come into shops together. I’m always so thrilled to see the customer reaction to our product and the experience of shopping with See’s.
Is it tough remaining relevant in the chocolate industry for the past 100 years?
For See’s that isn’t really a tough question. Chocolate is always relevant, and excellent chocolate will always be in demand. I’m fortunate to be able to work with a fantastic team that is committed to both the best candy and the best service possible. See’s sets ourselves apart from the competition in two ways: first, we make the best candy you can find, much of it by hand. We don’t add preservatives, so our product is fresh like bread, and you can pronounce what is on the ingredients statement. Our product is made from ingredients you would use making candy from scratch, and we don’t include ingredients to extend the life of our product, so it always tastes great.
What separates See's from its competition?
Our connection with our customer is unmatched in candy and among the best in retail. We have store associates in almost every one of our stores that have worked for us for decades. They do it because they get joy out of serving the customer—and that joy comes back from the customer. We connect with our customers, and I don’t think any other retail candy shop of our size can make that statement.
See's Candies See's Candies
What are some new innovations in the works?
During See’s Candies Centennial year monthly new candies and collectible items will be launched. Each month See’s is launching a new Limited-Time Sweet available in Shops and online. Each piece will be made for that particular month, and the brand will see what the response is to determine if they add to their year-round offerings. To kick off the Centennial, the Dark Butterscotch Square launched on December 30. It’s a classic favorite coated in milk chocolate made with firm brown sugar, vanilla and heavy cream. Available for a limited time only, it is now generously coated in rich dark chocolatey goodness.
I’m also very proud that we rolled out our Click, Pick & Go service this year. Customers can order online and come to a store to pick up their order. We were considering this anyway, but having an option for contactless service made 2020 the perfect year to roll that out.
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df11cf34ed2a4b150fe2add43fb32333 | https://www.forbes.com/sites/chelseadavis/2021/02/08/san-franciscos-22500-square-foot-brewery-and-distillery-seven-stills-re-opens-for-drinking-and-dining/ | San Francisco’s 22,500 Square-Foot Brewery And Distillery Seven Stills Re-Opens For Drinking And Dining | San Francisco’s 22,500 Square-Foot Brewery And Distillery Seven Stills Re-Opens For Drinking And Dining
Seven Stills table spread. Seven Stills
Seven Stills in San Francisco’s Mission Bay is the city’s only local combined brewery and distillery. This massive 22,500 square foot imbibing hub is known for its unique and creative spirits and beer selection, but also recently stepped up its dining game with the pandemic addition of multi-Michelin starred chef Joseph Humphrey leading the kitchen. Seven Stills features relaxed, market-driven California cuisine with influences from his upbringing in the Gulf Coast and culinary training in New Orleans.
The team behind Seven Stills prides themselves on paying close attention to detail in everything they do. From the grains and hops they select for their beers that are distilled, to the street artists selected, to design their bottles. Though the focus is whiskeys distilled from craft beers, they have truly designed a noteworthy food program needed to match these standards.
Shrimp beignet Seven Stills
“We were lucky enough to find Michelin-starred chef, Joseph Humphrey amidst the pandemic, to come on board and really help elevate the food program,” explains Tim Obert, Owner/Co-Founder, Seven Stills. “The inspiration has always been “drinking food”. I.e. it’s not about getting a burger and fries and having a beer. It’s meant to be more tapas style to encourage guests to try the different offerings on our drinks menu while being able to also have something to snack on.
“Yes, the food program was always a huge focus as we developed the concept for the restaurant space at 100 Hooper,” echos Michael Huffman, General Manager, Seven Stills. “We wanted to create something that was both elevated and unpretentious, that showcases our fantastic products and delivers an amazing restaurant experience for our community.”
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Since Covid, Seven Still has had to understandably pivot. Hard. To this day, they have yet to produce anything from their massive new facility except for hand sanitizer.
“The facility wasn’t even commissioned to produce beer or spirits when the pandemic hit and we saw a massive need for hand sanitizer,” says Obert. “We found a way to make it work with the equipment we had, turned our dining room into a hand sanitizer packaging area, and were able to get over 30,000 bottles into the hands of Kaiser’s front line workers.”
Seven Stills dining Seven Stills
So how is Seven Stills faring now that outdoor dining is back up and running? We chatted with the team on whiskey and beer, Covid, the restaurant menu and more. Here’s what they had to say.
Seven Stills is the only brewery and distillery in SF—how did this massive 22,500 square foot endeavor come about?
Tim Obert: We were focused exclusively on spirits until 2017, when we began producing beer as well. The sheer volume of beer that the general public consumes (versus the volume of spirits) was way too big for the small distillery we had built in the Bayview so we decided it was time to expand to support our growth objectives.
Although the obvious choice for most growing breweries is to move outside of the city, seeing as it’s one of the most expensive cities to live in and run a business in the world, we decided that our brand was so integrated in San Francisco that we would only take on the expansion if we could stay here.
Secret Ingredient whisky Seven Stills
Talk about the distilling and brewing space. Is it tough to have both at the same facility?
Tim Obert: Yes, it’s very difficult to negotiate the technicalities around the alcohol production laws. For example, we use our brewhouse and all of our fermentation vessels to produce beer. We also use them to produce the beer we use for our whiskeys. This means they have to be licensed to produce both beer and spirits. However the stills are only licensed to produce spirits, while the cold box is only used to store beer. So essentially the diagram of our licensed premises ends up looking like a giant colorful maze with different areas designated for different things in accordance with the law.
Similarly our bar is licensed as a craft distillery retail area. This means that we can serve beer with a bona fide meal, including our own beer. However, because it is technically a “craft distillery” we can’t sell our beer to go (in cans or in a growler). So we extended a portion of our “brewery” premises to include a small refrigerator that we can sell our cans of beer to go from but growlers are completely out of the question because they are served from the bar.
Seven Stills vodka Seven Stills
What is its specialties? And what are some beverages people have to try when there? And food?
Tim Obert: Our specialties are our whiskeys distilled from craft beers. We offer whiskey flights of our spirits so people can come in and try a whiskey made from a stout next to a sour next to an IPA next to a imperial stout with vanilla and coconut. It’s really fun to taste how the base beer has such an impact on the finished flavor.
And none of our whiskeys are “flavored whiskeys”. They are all really well made and if you didn’t know they were made from an IPA or a stout you’d think they are just a great whiskey.
Michael Huffman: Our restaurant facility at 100 Hooper was designed to showcase the Seven Stills brand and all of the fantastic beer and spirits we produce. In that vein, we decided to include a craft cocktail program to highlight the spirits we produce like whiskey, vodka, gin, barrel aged gin, pisco, other experimental spirits and beer. Our opening menu highlights five of our core spirits in three different cocktails to showcase their versatility.
Each spirit is transformed into an amazing craft cocktail that is either stirred and spirituous, shaken and juicy or a riff on a classic cocktail. The aim here is to allow our guests to experience the same spirits in several different ways. We continue to build on this core menu with seasonal and specialty cocktails that celebrate new releases, and additional products.
What's the menu inspiration and are your beverages taken into account when the menu is being crafted?
Tim Obert: The menu was re-crafted during the pandemic so the impetus behind everything was making the dishes or drinks transport well. We still followed the “tapas” guidelines but beefed up some of the options like the cocktails to-go so guests could order a pouch that had 2-3 cocktails inside to share with their “circle” when enjoying in a public setting.
Michael Huffman: The food menu is designed to compliment the beverages and experience of visiting Seven Stills. When we were developing this concept a focus on local ingredients and fun exciting flavors seemed to fit right in with the existing brand. Dishes inspired by drinking food from around the world with an emphasis on local sustainable food sourcing as well as celebrating local purveyors and producers.
Since Covid, how have you had to pivot? What are some unforeseen challenges you had to overcome and how did you manage to do that?
Seven Stills burger Seven Stills
Tim Obert: Our shift to outdoor dining when we have a massive 500 seat restaurant and mezzanine has been difficult to do well while making sure our staff and customers were being kept safe. We majorly stepped up our safety policies, requiring staff to change out of street clothes before beginning work, adding on a changing area to accommodate this.
Additionally, the strict policies we’d enforce requiring customers to wear a mask before our staff would approach their table (yes, every time before they’d approach the table), led to a lot of unhappy customers and bad reviews, but it ultimately led to the safety of our staff and our customers which is something we’re proud of. Keeping our staff and customers safe has been and always will be the top priority.
Michael Huffman: We have had to pivot almost every facet of our operations. Most noticeably, we have had to build extensive outdoor seating areas at a huge financial cost that have remained empty for large periods of time due to the intermittent closing of outdoor dining in SF. We are more fortunate than some of our peers in having access to large outdoor areas, however the financial hit we have taken is extraordinary and our survival has been touch and go all year. We have overcome this with the support of our amazing staff and community.
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6ee35d7f51be0b68fe4ce8d894ddde99 | https://www.forbes.com/sites/chelseadavis/2021/02/25/building-bridges-wine-innovators-pave-the-way-for-future-generations/?sh=20bb1f501787 | Building Bridges: Wine Innovators Pave The Way For Future Generations | Building Bridges: Wine Innovators Pave The Way For Future Generations
Tasting in the Dark at Frank Family Vineyards Frank Family Vineyards
Wine is about bringing people together.
Just like with a good meal, wine is best savored with people you enjoy spending time with. Wine tasting is just as much about the quality time and conversation with your company as it is the overall experience of smelling, tasting, and enjoying the wine.
There are a multitude of growing regions and many techniques of producing amazing wine. Consider the number of wine grape varietals that exist—from Chardonnay and Pinot Noir to Cabernet Sauvignon to Sauvignon Blanc, etc. In fact, there are over 10,000 unique wine grape varietals that we know of today. Now, think of where they’re grown and the journey they must take to eventually produce the perfect bottle of wine. At its core, wine is humble. We often use wine as a catalyst or lens to create inclusive and memorable experiences with colleagues, friends, family, lovers, and more.
How different are humans? We don’t judge a wine for being white, rosé, or red. Why should we judge people? Wines, just like people, are inherently diverse. While it would be nice to imagine the world of wine as one that embraces differences, shuns elitism, all while encouraging inimitable experiences for newcomers and connoisseurs alike, the truth is it can be a tossup.
Diversity can have many interpretations. So, how do you best bring diversity into the wine industry? Let true advocates of change meet one another, exchange ideas and personal experiences, engage in meaningful discussion, and see how they run.
Co-Founder of Be the Change Philana Bouvier
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Philana Bouvier is a businesswoman, entrepreneur, mentor, current VP of Fine Wine, Supplier Business Development at Republic National Distributing Company, and Co-Founder of Be the Change. Be the Change is an equal opportunity initiative and virtual job fair committed to changing the status quo in the wine, spirits, and beer industries through action, policy, and establishing a just beverage industry via job placement with companies dedicated to creating real solutions with diversity, equity, training, and more.
Dr. Hoby Wedler is an American chemist, entrepreneur, visionary and educator who happens to be blind. This has caused him to follow his passions with more tenacity and drive than others. In 2016, he earned his Ph.D. in organic chemistry from UC Davis. In collaboration with the Francis Ford Coppola Winery, he founded Tasting in the Dark, a one-of-a-kind truly blindfolded wine experience. Today, Tasting in the Dark has expanded across numerous markets and industries around the globe.
As individuals, these two incredibly passionate people have worked tirelessly throughout their careers to enhance opportunities for everyone, specifically in the wine industry. While working to build bridges to success for all, they had the pleasure of meeting each other through the first Be the Change roundtable discussion preceding the inaugural Be the Change job fair in 2020. Bouvier moderated and Wedler spoke at the roundtable.
“We knew from the get-go that we would work together long in the future,” recalls Bouvier. “We quickly realized that our words hold weight, we’re always striving to learn more, and, perhaps most importantly, we always do our absolute best.”
American chemist, entrepreneur, visionary and educator Dr. Hoby Wedler
Bouvier and Wedler came together because they care deeply about equal opportunity, diversity and inclusion, hard work, and connecting people who need to know each other. They both believe deeply in mentoring others, raising the bar, and making a lasting change. They are also continuing their own journeys, learning from each other and their own experiences.
It’s important to note that these two professionals, although meeting through their shared passion and commitment to make positive change, didn’t start working together because they are from unique backgrounds. Rather, they came together to solve important problems as mentors, thought leaders, and relentlessly hard workers that just happen to come from very different backgrounds than most.
“We both get it. We have a sense of what needs to be done, where the industry and individuals need to go, and what they should do next,” says Wedler. “Stated more simply, we are both thoughtful mentors who believe in helping everyone around us get what they need to succeed.”
“Meeting Philana was a breath of fresh air; here is someone who shares my passion and work ethic to bring well-rounded thought leadership to the wine industry. Being diverse in the wine industry isn’t enough. It must come along with a willingness to work hard, to produce quality results, and to get along with everyone around you.”
Be the Change Job Fair Be the Change
A key tenant of their outlook on diversity? It’s not just about race, orientation, gender… etc. But rather, functionality. This isn't just a surface level thing. In today’s world of identity politics, functional diversity isn’t something that’s really discussed. But needs to be.
Enter Be the Change. Created last year in 2020, Be the Change is an initiative that is focused on job placement and education. Bouvier, along with co-founders, Lia Jones, Rania Zayyat and Cara Bertone aim to create an inclusive beverage industry that will set new standards for employers to empower inclusive hiring practices. This virtual job fair offers multiple job opportunities to hundreds of diverse candidates. The mission of Be the Change is to empower employers committed to diversity, equity, and inclusion to connect with diverse job candidates in the beverage industry.
Be the Change is a game changer as it utilizes the technology of Brazen, a leading virtual hiring event and online career platform, to connect candidates in real time with employers. Virtual recruiting allows candidates to engage with companies on a more personal level from anywhere. Exhibitors receive a virtual booth where participants enter and request meetings with the employer’s team of representatives.
Be the Change is an equal opportunity digital job fair open to all. It is also an incredible networking experience. As a result of the success of their inaugural event in December, Be the Change will host its second job fair on April 22nd, 2021. This second job fair will also include the beer and spirits industries.
“I have a deep-rooted zeal for learning, and am incredibly grateful to have met Lia, Rania and Cara. We opened each other’s worlds. You begin to have this understanding that to work together, we don’t have to come from the same place,” states Bouvier. “It has given me a solid foundation to educate and challenge myself on what true diversity is. When you are working with different leaders it is wonderful to see how much that can positively change your life, both personally and professionally.”
“What we are doing together as a team is extremely impactful and rewarding. When we hear from candidates who have received a job opportunity through Be the Change, it is an incredible feeling, and the result is we are opening doors for others,” she continues. “We are listening, and we are here to help.”
Dr. Hoby Wedler leading a blind tasting Frank Family Vineyards
Those who don’t possess certain disabilities will often overlook the ways brands or companies fail to be accessible across all brand touch points, or, how society as a whole marginalizes other differences that aren't as obvious as Black vs. White or male vs. female. That said, spend time with Wedler and you will quickly notice how much we miss out on because we are distracted by our eyesight.
A major part of inclusion is about creating impactful, unique, and memorable experiences for your audience, demographic, or industry. In advancing true inclusivity by introducing new experiences, Bouvier and Wedler are setting an example as visionaries in the wine industry.
Building relationships, finding the right people for the right positions, and allowing them to shine through hard work and humility is what building a culture of change necessitates.
“Diversity means bringing unique perspectives to the table in a meaningful way to solve problems,” says Wedler. “And we often forget that it is also about solving problems with innovative and creative viewpoints developed by multiple perspectives from multiple life experiences.”
“Inclusion is all about creating an inviting environment both for employees at a company and for customers that the company serves. This environment happens when stakeholders are more aware of their surroundings.”
As someone who was born blind, Wedler views the world differently than most people and therefore brings a type of functional diversity the wine industry lacks. Tasting in the Dark transforms blindness, what some might think of as a disadvantage, into an advantage.
A Tasting in the Dark event at Frank Family Vineyards
“This blind tasting added another level of focus, instead of being content to hit the dart board, you were able to laser in on the bullseye,” says Todd Graff, Winemaker and General Manager, Frank Family Vineyards. “As winemakers, we create concentrated wines; this tasting concentrates our attention and energy."
"Tasting while blindfolded allowed me to focus on the wines without the distraction of my surroundings and forced me to sharpen my senses of smell and taste,” continues Leslie Frank, Proprietor, Frank Family Vineyards after experiencing Tasting in the Dark with Wedler. “The exercise made me realize just how much our sense of sight can influence our perception of what we smell and taste in the glass."
According to Wedler, tasting wine is akin to looking at art. He developed Tasting in the Dark to offer people a special view of wine in the glass without the distraction of eyesight. “Eyesight” being a term he deliberately uses here as he frequently will make the astute observation, “We all have vision; some of us just lack eyesight.”
“If we solve a problem for one group, you will be surprised how many others that solution helps. Think of wheelchair ramps. These were installed around the country for people in wheelchairs,” explains Wedler. “But people in wheelchairs make up a fraction of those who use wheelchair ramps today. Think strollers, bicycles, shopping carts, etc. The same analogy applies to the wine industry. We need to adopt the abundance mindset around diversity and inclusion and realize that a more varied approach helps everyone.”
Tasting in the Dark at Frank Family Vineyards Frank Family Vineyards
Along similar lines, creating this culture involves creating well-rounded brands that are fully inclusive of their audience. Wedler also represents Tucker Creative, a renowned Australian and US based brand creative and marketing studio focusing on wine and spirits.
Working with the studio to build engaging branding and packaging with unique textures, weights, and more, Wedler adds to the appeal of products beyond visuals. Tucker Creative has worked with Wedler to create braille labels on products, soft touch printed labels, embossed labels, and more to create highly tactile, emotive, and engaging branding that appeals to everyone.
“Diversity to me is about depth of experience, bringing different voices together and opening doors for each other. It is also about vulnerability as it’s a strength, not a weakness,” says Bouvier. “We are all on our own journey, and, whether you are at the beginning or further along, we have to be patient and kind to each other.”
It’s clear from both visionaries that being a certain way alone doesn't make you extraordinary. What makes you extraordinary is your ability to work hard and be unwavering about it. Bouvier and Wedler understand that it’s important to bring your A-game to the table, sure, but then once you step up to the plate you need to stay there. To do that, you need to add value.
To Wedler, being successful is all about turning what might be considered disadvantages into huge advantages.
Blind tasting at Frank Family Vineyards Frank Family Vineyards
“If you’re deaf, you probably are very good visually and can read a room better than most. If you’re blind; bring what other people can’t bring to the table with their other senses and bring it well,” continues Wedler. “Always be your best and hold extraordinarily high expectations of yourself. Never lower the bar. Take responsibility for yourself and your actions. You are not always the victim. Step up, bring your absolute best, and don’t blame others if you don’t always get your way.”
“What's rewarding when you bring people of different backgrounds and expertise together, is it becomes about opening doors for each other,” explains Bouvier. “You have to open the door; the rest is up to the other person. Inspiring and educating the next generation, with the door open. That said, the person needs to walk through.”
“Our hope and desire is to build confidence with our communities that will motivate, build inclusive environments, and lead by example to do the hard work. I’m very proud of the impactful work my co-founders are leading through their own organizations, Lift Collective and Diversity in Food and Beverage. There are several groups inspiring change and the positive here is the entire industry is committed. “
“We think about exploring new opportunities and discovering new roles for people, providing that light that you can do anything you want if you believe in yourself and the community around you,” Bouvier continues. “Traditionally, people are waiting to be asked to sit at the table. But for me, why not generate the opportunity and create the table yourself? This is more powerful because you aren’t having to ask for permission or approval; it’s more about building the confidence that you belong.”
Diversity getty
So, what does the future of the wine industry look like? According to Wedler, the future of the wine industry will have more perspectives at high levels, more thoughtful and unique perspectives making change and solving problems, and a more eclectic group of people who think about the world differently than one another.
“People should feel completely welcome no matter what they look like and whatever their abilities. Include everyone in the wine industry, from employees to consumers,” Wedler says. “Consumers who feel less intimidated by the industry will buy more wine and become more loyal customers. The future of the wine industry will be more profitable when it further embraces diversity and inclusion. Customers and employees alike will feel more welcome.”
“The future of the wine business will involve marketing wines of all value to a wider community. Recruitment is vital, as our industry has to think outside of the box when it comes to attracting the best candidates to the job market,” continues Bouvier.
“The wine industry has to embrace diversity, equity, and inclusion across all levels of the business, to include marketing to consumers. Being genuine in your mission and vision is vital. Human resources departments also internally need to improve recruiting and be open to different ways to recruit and ensure retainment. Positive change will happen when we all work toward these goals.”
Frank Family Vineyards Frank Family Vineyards
The wine industry is changing. New perspectives and practices are shaping the industry. Most importantly, Bouvier and Wedler believe, motivate, and mentor each other on their journeys of helping others be their absolute best selves.
Visionaries are truly special, and can be tough to come by, but once they take hold of something they often manifest exceptional results. They are able to effectively assess a situation and subsequently take the necessary steps to make impactful present-day change, for a brighter future for all. And that is what this industry needs.
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8cb8917fae8dd4f5ee50aea9f6c73c7a | https://www.forbes.com/sites/chelseadavis/2021/03/08/the-best-outdoor-hotel-restaurant-patios-in-southern-california-according-to-the-founder-of-hotels-above-par/?sh=23ce953a1456 | The Best Outdoor Hotel Restaurant Patios In Southern California, According To The Founder Of Hotels Above Par | The Best Outdoor Hotel Restaurant Patios In Southern California, According To The Founder Of Hotels Above Par
When it comes to beautiful hotels and ways to elevate your travels to next level luxuriousness, Brandon Berkson is your man.
As we all know the pandemic rocked the travel industry and along with it many talented people’s jobs. Berkson was one of those people who was forced to pivot after becoming furloughed from his dream job in travel public relations. But like they say, the best rise to the occasion and he quickly took on the role of entrepreneur deciding to turn his passion for hotels into a career.
Brandon Berkson, CEO and Founder of Hotels Above Par Brandon Berkson
Berkson created Hotels Above Par, an expertly curated online guide of under-two-minute articles designed for the hip traveler who is short on time with an emphasis on high-end, design-forward boutique and independent hotels. Today he splits his time between running Hotels Above Par and his public relations job from which he has since returned to.
Hotels Above Par is unique in that its content is made for today’s social media driven world. It uses concise, around 300 word narratives written by travel journalists along with eye-catching photography, to create unparalleled wanderlust-inspiring content. Just what the world needs right now, especially as things slowly but surely start to open up again.
“When I was a kid, instead of being into sports, I was obsessed with hotels,” says Berkson, CEO and Founder of Hotels Above Par. “Even if we weren’t staying there, I would incessantly ask my parents to take me to different ones to walk around.”
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Since its April 2020 launch, @HotelsAbovePar has earned more than 56,000 followers on Instagram, and its online guide has expanded to include numerous round-ups, original stories, stand-alone hotel features, destination spotlights and more.
“When the pandemic started to decimate the travel industry, I was certain of one thing: I wanted to support hotels at a time when they needed love most,” says Berkson, Founder and CEO of @HotelsAbovePar.
“Hotels are what I know and love — from fond memories of visiting hotels as a kid with my parents and humble beginnings in hospitality working front desk operations at a San Francisco hotel to travel & hospitality roles with companies in Paris, London and New York City, and now creating Hotels Above Par.”
We chatted with Berkson to get his scoop on the best hotel patios for outdoor dining in Southern California. Here’s what this hospitality guru has to say.
San Diego
The Med at La Valencia Hotel The Med at La Valencia Hotel
The Med at La Valencia Hotel
“It’s no surprise that San Diego is home to many hotels with spectacular outdoor dining, from ocean views and rooftops to garden patios. One I grew up going to is La Valencia, located in the heart of the Village of La Jolla. It’s a historic Southern California staple built in 1926, painted in a soft pink and often referred to as ‘The Pink Lady.’ The property is a mélange between Mediterranean-style design and the first-half-of-last-century, Spanish-style architecture found in San Diego’s older neighborhoods. I’m an architecture nerd and could go on about design for days. At the hotel, they have a restaurant called The Med, which has an ocean view terrace that allows diners to observe the waves, palm trees, and curvaceous cliffs that make La Jolla one of the country’s most scenic coastlines. Trust me when I say this: The Ahi Poke Nachos are phenomenal and a must-try.”
Charles + Dinorah at The Pearl Hotel Josh Cho Photography
Charles + Dinorah at The Pearl Hotel
“I’m a huge lover of mid-century architecture and retro-like ambiances. The Pearl Hotel in San Diego’s seaside community of Point Loma is the archetype of this. Originally built as a mid-century California motel, this property was revamped and is now one of San Diego’s best kept secrets. Situated in the hotel’s courtyard, restaurant Charles + Dinorah is buzzy with its hip outdoor furnishings centered around an oyster-shaped pool. They have a projector casting classic movies on a huge screen for everyone dining — on Wednesdays they turn the sound on so guests can enjoy dinner and a movie. Whenever I’m here, I always get the Japanese Fried Chicken — it’s the perfect finger food before receiving a main course.”
Provisional Kitchen, Café & Mercantile at the Pendry San Diego Provisional Kitchen, Café & Mercantile at the Pendry San Diego
Provisional Kitchen, Café & Mercantile at the Pendry San Diego
“This hotel is one of San Diego’s hippest. It’s a great hangout spot if you’re looking to trade the laidback vibe of the beach for the energy of the city’s downtown area. I stand by the following statement: Brunch is the most important meal of the day. So, with that, I love their restaurant Provisional Kitchen’s brunch menu. I recommend heading there on a Sunday morning and having their Eggs Benedict and Breakfast Pizza. Local’s tip: Walk off your food coma and head to nearby Little Italy, which is my favorite San Diego neighborhood with its bevy of outdoor European-style cafes that are perfect for espresso sipping and people watching.”
Palm Springs
The Pink Cabana at the Sands Hotel & Spa Kamie Kowal
The Pink Cabana at the Sands Hotel & Spa
If you’re looking for both a nosh and the perfect Instagram shot, the Sands Hotel & Spa needs to be on your radar. The hotel is right outside of Palm Springs, in the high-end town of Indian Wells. Having used to be a 1950s-era hotel, Interior Designer Martin Lawrence Bullard brilliantly reimagined the space. It’s filled with desert pink hues and is meant to be a mix between Moroccan and mid-century architecture; the Palm Springs area is widely-known for the second style. The hotel is home to The Pink Cabana, which is led by Executive Chef Jason Niederkorn. The restaurant is brilliantly incorporated into the courtyard and is designed to be a modern take of the great Tennis and Racquet Clubs of the 1950s and 1960s that populated Palm Springs. The space opens up to a desert plant-abundant garden and centerpiece pool. When here, you have to get the Mezze Board — my favorite is the Hummus and Harissa option. As I said, the place is the perfect place for a nosh and an Instagram.
Norma’s at The Parker Palm Springs Norma’s at The Parker Palm Springs
Norma’s at The Parker Palm Springs
“A trip to the Coachella Valley is not complete until you visit The Parker Palm Springs. It encompasses a lively retro atmosphere that makes you feel like you entered a time machine and programmed it to take you back to the 1950s. Celebrities have frequented here for decades. Onsite restaurant Norma’s has a fantastic outdoor patio — not many people or places can pull off orange, however, they do this sun-kissed color justice by excellently pulling it through their outdoor furnishings. When here, you have to try Norma’s Super Blueberry Pancakes, which are served with a side of Devonshire Cream.”
Orange County
180 Blu at The Ritz-Carlton, Laguna Niguel 180 Blu at The Ritz-Carlton, Laguna Niguel
180 Blu at The Ritz-Carlton, Laguna Niguel
“This hotel is perched atop the cliffs of Southern Orange County’s Salt Creek Beach, in Dana Point. Needless to say, the hotel is elegant like all Ritz-Carltons. My dad, who helped fuel my passion for hotels as a kid by taking me to walk around them, brought me here for a quick pit stop during a day trip to Laguna Beach — I’ve always cherished that memory and this property is the first thing that comes to mind when I think of Orange County. My favorite part is the outdoor patio at their restaurant 180Blu, which has unmatched views of the Pacific Ocean, as well as the Laguna Beach and Newport Beach coastline. When sitting by the sea, eat from the sea: My favorite dish is the Piloncillo Shrimp with chayote slaw, candied pepita, morita chili pepper, and lime.”
Los Angeles
Cara Restaurant at The Cara Hotel ADAM SECORE
Cara Restaurant at The Cara Hotel
This hotel is one of my favorites in California. In fact, it’s new to my list as they opened in August 2020. I recently visited for the first time and fell in love with it. I can’t stop taking about it to my other hotel-obsessed friends. The Cara Hotel is truly a secluded haven within the hustle and bustle of Los Angeles. You would never guess you’re in the middle of a city that is notorious for its bumper-to-bumper traffic. The hotel’s courtyard is dotted with decades-old olive trees and palm trees, which surround a square water feature. The design is meant to embrace the beauty of California; you can tell that the architect had this in mind when designing the place, especially with its oat-like color palette that immediately calms you and exudes ‘California cool.’ While enjoying the tranquility of the courtyard, make sure to order the Charcoal Smoked Roast Chicken and Colcannon (a whipped Irish potato with shredded kale and cabbage).
Calabra at Santa Monica Proper Hotel Calabra at Santa Monica Proper Hotel
Calabra at Santa Monica Proper Hotel
“I love this Kelly Wearstler-decorated hotel — she’s an interior design genius. There’s no arguing that. She did a great job of taking cues, motifs, and hues from Santa Monica’s history and incorporating it into the space. The rooftop bistro and beach-inspired lounge Calabra is a great place to enjoy a meal with a panoramic view of, to one side, the beach, and the other side, Los Angeles cityscape. Lunch is served best with a view — definitely try their Hamachi Ceviche, which includes Lime Aguachile, Daikon Radish, Pickled Red Onion and Kernel of Truth Chips.”
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5f5b9ffb200e0a55bc338f6f8d38e5d4 | https://www.forbes.com/sites/chelseadavis/2021/04/08/treasure-island-hospitality-and-dining-with-attorney-and-hotelier-jeanette-secor/ | Treasure Island Hospitality And Dining With Attorney And Hotelier Jeanette Secor | Treasure Island Hospitality And Dining With Attorney And Hotelier Jeanette Secor
Attorney Jeanette Secor Jeanette Secor
Jeanette Secor holds a unique combined position as an attorney-at-law and hotelier. It may seem like two industries worlds apart, but she is an entrepreneur who has been able to bridge the gap between both industries.
Secor, ESQ, is a proud resident of Florida where she conducts all of her business. After graduating from the University of Utah and Cambridge University in England, she ventured out to the southern state. A scholarship to Stetson University College of Law led her to St. Petersburg, Florida. Here she fell in love with the warm water, swaying palm trees, powdery white sand and happy-go-lucky vibes.
When she opened up shop as a personal injury attorney, she wanted to keep her love for her community apart of her business motto. Her goal is to get her clients the best settlement and excellent medical treatment, as well as have cases completed as quickly as possible so people can move on with their lives.
“I provide aggressive representation, but treat my clients with a compassionate heart,” Secor says. “I don’t have a monthly quota to meet in my personal injury practice.”
Jeanette Secor and Torrie Jasuwan. Jeanette Secor
This level of customized care carries over to a fruitful second career in the hospitality industry. Previously as a law student, she would ride her bike to the beach because she couldn’t afford a car. She cruised past shorefront hotels and thought it would be fun to own one someday when she found success in the legal field.
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After her practice took off, she uses her profits to invest in multiple real estate ventures. The lawyer decided to make her youthful desires for a hotel a reality and purchased a 34-unit hotel knowing it needed to be renovated. Demonstrating patience and perseverance, she opened doors after the remodel of Oasis Palm Resort in 2008. Then almost a decade later she partnered with her friend Torrie Tiernan Jasuwan to open a second property called Two Mermaids Beach Resort.
The Treasure Island establishment is a laid-back vintage beach resort lovingly remodeled by the two businesswomen. At Two Mermaids they believe in the beauty in life and the adventure you find only when on vacation.
The stunning beaches and good food are two things that Secor loves to chat with guests about. “It’s all very tropical and hip here,” she says.
Surf & Turf Middle Grounds Grill
For a perfect dinner she recommends Middle Grounds Grill. Founded and run by a family with lifelong ties to the ocean, they offer the freshest and tastiest seafood with attention to detail. It’s casual, fun and family friendly with an upscale atmosphere, she explains.
Menu highlights include the Surf & Turf with Certified Angus Beef 6oz Filet Mignon paired with a 6 oz warm water lobster tail served with garlic mashed potatoes; Pacific Rim Scallops with Seared and drizzled with a Moscato wine glaze over a bed of coconut basmati rice; and Fresh Ahi. Live music plays as the sun sets and there are even nightly drink specials.
Seared ahi tuna Middle Grounds Grill
And for a breezy outdoor experience try The Hut Bar and Grill. Located along the historic John's Pass Boardwalk, they provide live music daily with gorgeous waterfront views. A 70-foot waterfront dock extends out into John's Pass. It provides a lovely location to enjoy specialty frozen cocktails in Madeira Beach.
Cocktails The Hut Bar and Grill
Signature food items include Cedar Key Clams; Key West Conch Fritters; Shrimp Quesadillas; Crab Cake Sandwich with Premium Claw and Super Lump Crab Meat; and Fried Lobster Po' Bo with Maine Lobster Claw & Knuckle Meat.
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ae0887c1453a68ad374b6eeee36c1975 | https://www.forbes.com/sites/chelseadavis/2021/04/11/little-original-joes-brings-unpretentious-italian-american-fare-to-san-franciscos-west-portal-neighborhood/ | Little Original Joe’s Brings Unpretentious Italian-American Fare To San Francisco’s West Portal Neighborhood | Little Original Joe’s Brings Unpretentious Italian-American Fare To San Francisco’s West Portal Neighborhood
Little Original Joe's spread of Italian food Emma K. Morris
Earlier this year John & Elena Duggan, the brother sister team behind Original Joe’s North Beach and Westlake, opened Little Original Joe’s, a takeout and delivery only concept in West Portal with a focus on what they do best: pizza, pasta, and parmigiana.
For people that don't know much about the history of Original Joe's, Original Joe’s first opened in 1937 at 144 Taylor Street in San Francisco. Even then it offered a similar, welcoming experience to what guests can expect today from any of their three locations —unpretentious Italian-American fare in a comfortable yet upscale atmosphere.
It was at this first location where the true hospitality and welcoming spirit synonymous with Original Joe’s was born. The restaurant flourished for decades, establishing itself as one of San Francisco’s most beloved spots.
Original Joe’s is a family-owned and operated business that has been passed from generation to generation. John and Elena Duggan operate Original Joe’s North Beach and Westlake, two locations that continue to flourish in their respective communities, along with the recently opened Little Original Joe’s. This is the first offshoot of the Original Joe’s brand located in San Francisco’s charming West Portal neighborhood.
Outside Little Original Joe's Little Original Joe’s
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Little Original Joe’s offers traditional Italian-American cuisine. Popular items include a selection of pizzas such as The Spicy Mike with olive oil, spicy soppressata, calabrian chili pepper, asiago, oregano; The Italian Job with tomato sauce, mozzarella, sweet italian sausage, ricotta, broccoli rabe, chili oil; Harry The Greek with tomato sauce, mozzarella, rotisserie chicken, feta, baby spinach, grilled artichoke, pepperoncini, kalamata olive, sundried tomato; and the California Dreamin’ with bbq sauce, mozzarella, smoked gouda, bbq rotisserie chicken, pickled jalapeño, red onion, cilantro.
The Spicy Mike with olive oil, spicy soppressata, calabrian chili pepper, asiago, oregano. Little Original Joe’s
Other mainstays include Spicy Rigatoni Vodka with marinara, cream, vodka, red pepper flakes; Joe’s House Made Ravioli classic meat sauce, parmesan; Spaghetti & Meatballs classic meat sauce, parmesan; and Baked Lasagna house made pasta, classic meat sauce, ricotta, mozzarella, parmesan.
Little Original Joe’s also features a charming Italian market with a selection of ready-to-cook, house made favorites from Original Joe’s; a variety of Italian, American, and locally made specialty items; and a selection of wine and beer.
We chatted with Elena Duggan, Co-Owner of Little Original Joe’s, on pandemic pivots, the menu; and Original Joe’s legacy and more. Here’s what she had to say.
Was the pandemic the catalyst in opening this location or was this always in the works? Are there plans to transition to a sit-down restaurant post-pandemic?
We had been working on Little Original Joe’s well before the pandemic hit and initially planned to operate a full-service restaurant in the space. Given the many challenges the pandemic presented, we ultimately decided to adapt the concept to meet the needs of our guests right now. We are focused on providing them the same comforting Italian-American food and warm hospitality that Original Joe’s is known for, but to be enjoyed at home.
Little Original Joe's marketplace Little Original Joe’s
As part of the pivot, we also introduced a marketplace stocked with ready-to-cook, house made favorites from Original Joe’s, a variety of Italian, American, and locally made specialty items, and a selection of wine and beer. The market seems to have been the missing element in this neighborhood, especially given the overwhelmingly positive response we have received so far. We are humbled by the community's support and do not plan to replace the market with dine-in service any time soon.
Talk about the menu. What are some standouts and specialties?
Like Original Joe’s, the culinary program focuses on traditional Italian-American cuisine with an emphasis on simple, comforting, and value-oriented dishes. The menu is centered around pizza, pasta, and parmigiana, featuring items like traditional American pizzas, which is exclusive to Little Original Joe’s, a selection of house made pastas, signature Original Joe’s parmigianas, and a variety of new staples, like Polenta Parmigiana, Garlic Parmesan Knots, and Chicken Wings.
The restaurant also serves Mary’s Free-Range Rotisserie Chicken from a premium open-flame Rotisol Rotisserie, as well as organic soft-serve ice cream from the North Bay’s Straus Family Creamery.
Chicken parmigiana Emma K. Morris
What was the inspiration for the market? What can guests expect when visiting?
The addition of the marketplace stemmed from the success of the small grab-and-go setup we created at Original Joe’s Westlake during the height of the pandemic. Our guests responded well to the concept, so we decided to expand it to Little Original Joe’s in the space that would have been for dining.
Little Original Joes’ robust marketplace is made up of various Italian-American specialty items, Original Joe’s favorites, and beloved Bay Area products. Consistent with the restaurant’s menu pillars, the market is centered around pizza, pasta, and parmigiana.
Eggplant parmigiana Little Original Joe’s
Items include fresh and frozen house made pastas and sauces, Original Joe’s soups, salad dressings, desserts, and grab-and-go entrees, and other prepared foods such as fresh cheeses, assorted cured meats, dried goods, condiments, sweets, and freshly bread from San Francisco’s Boudin Bakery and Acme Bread Company.
The pizza is out of this world! What makes it so special (the crust is so good!)
The secret to Little Original Joe’s pizza is the dough. Passed down from Sal Alioto, owner of Paradise Pizza which once occupied the space where Little Original Joe’s is now, the restaurant’s pizza program is centered around his legendary dough recipe. Since we grew up in the neighborhood and frequently visited Paradise Pizza as kids, we felt it was fitting to pay homage to Sal and continue his pizza legacy in the West Portal community.
PB&A with olive oil, mozzarella, prosciutto di parma, burrata, arugula, truffle oil. Emma K. Morris
How are the other Joe's locations doing and are there any other ways you've had to pivot because of Covid?
The pandemic has had an incredibly tough impact on our restaurants, which forced us to be nimble and adapt, ultimately leading to our decision to re-concept Little Original Joe’s. Despite the challenges and the continued uncertainty, it’s clear that people respond well to comfort foods and that is what we’re here to serve. We’re giving people something to look forward to—good food that feels familiar.
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923b0258f10866b67ada7ca9c16c37c8 | https://www.forbes.com/sites/chelseadavis/2021/04/19/miami-film-director-luis-corchons-top-caf-picks/ | Miami Film Director Luis Corchon’s Top Café Picks | Miami Film Director Luis Corchon’s Top Café Picks
Corchon at his favorite Miami cafe. Artem Shestakov
A picture is worth a thousand words, especially when it comes to the work of Luis Corchon. Known in the industry as simply ‘LC,’ the Argentine creator continues to expand his reel. After building a successful technology consulting firm in Washington, D.C., Corchon made a bold move to Miami to act on a lifelong dream to work behind the lens. His agency Corchon Creative specializes in story telling through cinematic short films for premium brands.
In 2020, Corchon settled into the Park West neighborhood in downtown Miami and sought to build a collective of creatives with whom to work on large productions. He is currently creating films using Miami’s resources of vibrant culture, arts and influencers.
Luis Corchon David Runyon
The diversity in his creative style combines a mixture of video, drone and still images. Each of his projects capture the rich environment that surrounds his creative eye. Corchon has been focused on growing his agency through strategic partnerships.
“The journey is often more important than the final destination,” Corchon states. “For every success you must stomach failures and for every image that is worthy to print there are dozens that don’t make the cut. There is no overnight success, only hard grueling work that one day may materialize if there is enough passion driving the process.”
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Upon arriving in Miami, Corchon began his search for the most authentic local cafe with good vibes to host meetings and plan his shoots. Just a few steps away from Corchon’s studio is Sagrado Cafe. The 3,200-square-foot space includes an open pastry kitchen, where the staff bakes sweet and savory items to the soundtrack of bossa nova tunes.
Sweets at Sagrado Cafe. Artem Shestakov
“Sagrado has a very special vibe,” says Corchon. “I felt right at home from day one. It’s the reason I am here every day.”
The cafe is located in the iconic Park West neighborhood of downtown Miami, which is home to Zaha Hadid’s 1000 Museum Residences, Perez Art Museum, Phillip Frost Museum of Science and the American Airlines Arena.
Sagrado’s large space features an excellent indoor and patio space, perfect for quick meetings or a long brunch feast. Chocolate has the starring role at Sagrado, and the Brigadeiro is its Brazilian definition.
A crunchy-crusted Pão de Queijo fresh from the oven and a handful of chocolate sprinkled Brigadeiros are a few indulgent Brazilian delights to enjoy with fresh coffee.
“Sagrado’s food and the details involved in cooking, baking and serving is a thing of
Sagrado Cafe. Artem Shestakov
beauty,” says Corchon, who has been working with the restaurant to film and photograph the preparation and presentation of its dishes, drinks and pastries.
The word Sagrado, is Portuguese for ‘sacred.’ “The name came to me in a dream,” shares Taciana Kalili, the restaurant’s owner. “The space and food is very picturesque and guests often film and photograph their experiences to share on social media.”
Kalili is the founder of the iconic confectioneries Brigadería, the café is one of six locations in Florida that offers a culinary voyage and homage to South American culture and ingredients that make up its hearty cuisine.
You can see the delicious things that Sagrado makes, as well as some of Corchon’s work for them here.
Another popular coffee destination? Vice City Bean which has one location in the Arts & Entertainment neighborhood of Miami and one coffee bar at the landmark the citadel food hall in little river. The coffee menu features tradition beverages in addition to single-origin nitro coffee; spro + tonic, which is espresso, East Imperial Tonic, vanilla and orange on ice; and an espresso milkshake made with locally churned vanilla bean ice cream by Frice Cream. They also offer a menu of treats including fresh berry pies.
Fresh berry pie. Vice City Bean
Over in the lively neighborhood of Wynwood, Panther Coffee offers up another great spot for high quality coffee. The Miami based specialty coffee company specializes in small-batch roasting of coffee beans and the preparation of coffee beverages. The staff can tell you everything you need to know about your cup of joe.
How it’s sourced, roasted and prepared… it’s an experience for the connoisseurs. Some specialties include the Man Eating Tiger Tumeric Latte tea, or a silky West Coast Espresso with options of mixing with sweet lemonade, malted chocolate, raspberry or Concord grape.
For more info on Luis Corchon and his work, click here.
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2d0e8a752d6fc385b13a77ace0724645 | https://www.forbes.com/sites/chelseadavis/2021/05/03/new-head-chef-at-batch-and-brine-takes-taco-tuesdays-to-a-new-level/ | New Head Chef At Batch And Brine Takes Taco Tuesdays To A New Level | New Head Chef At Batch And Brine Takes Taco Tuesdays To A New Level
Batch & Brine's new tacos. Mike Patterson & Alex Toro
Chef Nick Peters is the new head chef at Batch & Brine in Lafayette, California and with his arrival comes a brand new Taco Tuesdays menu—just in time for Cinco de Mayo! Former CIA alumnae Chef Peters previously worked as the Executive Chef at San Francisco’s Valencia street hotspots Tacolicious, Mosto and most recently Curio Restaurant & Bar.
Family-owned Batch & Brine prides itself on cuisine inspired by generations of closely-held family recipes. The menu features a range of delicious plates from juicy burgers and sandwiches to fresh salads and sharable plates, and of course, milkshakes.
The Blue. Chelsea Davis
Popular inventive items include the Merguez with Spiced Lamb Patty, Harissa Aioli, Roasted Red Pepper, Pickled Red Onion, Arugula, Marinated Red Cabbage on a Pretzel Roll; the Blue with Angus Chuck, Whipped Roquefort, Arugula, Fig Jam, Candied Bacon on a Pretzel Roll; Au Poivre with Peppercorn Crusted Angus Chuck, Buttered Onions, Seared Mushrooms, Swiss, Green Peppercorn Sauce; and the Duck Banh Mi with Garlic Aioli, Pickled Carrot & Daikon, Cilantro, Mint, Jalapeno, Cucumber, Banh Mi Sauce on a Torpedo Roll.
Batch & Brine also offer an indulgent weekend brunch that features innovative dishes such as the Southern Fried Chicken Benedict with Bacon, Hollandaise, Biscuit, Potatoes; Pastrami Hash with House Made Pastrami Hash, Fried Eggs, Rye Toast; and the Banana Pecan French Toast with Challah Bread, Pure Maple Syrup, Caramel, and Powdered Sugar.
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They also offer a selection of craft cocktails, beer and wine, as well as a selection of cocktails to-go and happy hour specials. Libations include the Lulu Melon with Rutte Gin, Cucumber Honeydew Shrub, Lime, Chipotle; Honey I'm Home with Barr Hill Gin, Lillet Blanc, Pineapple Citrus, Honey; and the Something With Vodka with Bergamot, Lychee, Cava, Citrus Smoke, Spice & Everything Nice-Mezcal, Mandarin, Lemon, Tradewinds Spiced Brandy.
Batch & Brine cocktails. Mike Patterson & Alex Toro
The newest addition is the Taco Tuesdays menu which includes chips and dips; $6 tacos (or 3/ $15 tacos); along with guajillo-braised short ribs that comes with onion and cilantro, tomatillo-avocado salsa and escabeche vegetables. The taco selection includes pollo borracho with ancho chile and tomato, braised in cerveza and tequila; and the carnitas tradicional with orange and oregano marinated manteca braised meat.
I sat down with Chef Nick Peters to chat about his new role, menu inspiration, things in the works and more. Here’s what he had to say!
You've recently begun working as the head chef at Batch! Congrats! How has the move been going and what changes, if any are you making to the food program?
So far the move has been great. There has been a lot of warm welcomes from other restaurants in the Lafayette community as well as the Chamber of Commerce. Really great neighborly feel all around. The East Bay in general has always been one of my favorite places. The family and I have been living in the Concord and Walnut Creek area since 2010 so it is great to be close to friends and family.
We have some killer things in the works for a new Summer menu that is going to be focused on elevated comfort classics and chef inspired burgers. Probably most excited about some new "shareable" snacks and bites to highlight our craft cocktail program. Still a couple of final touches to put on the menu as we get some seasonal ingredients on board. Stay tuned!
Cinco de Mayo is around the corner! What do you have going on for it?
We just launched a whole new Taco Tuesday program that went live this week. After being in San Francisco for so long I definitely fell in love with guisado style tacos and wanted to see more of them in the East Bay.
Tacos and dips. Mike Patterson & Alex Toro
These tacos are braised slowly in flavorful liquids that have various dried chiles, tomato, spices, and other herbs. In addition we have house made tortilla chips that we are serving with an assortment of dips. Fresh guacamole is a must, but we are also doing a summer tomato salsa that has hints of mint and a chile con queso that is liquid gold.
Tell us about the taco specials? What's good to pair with them?
So the tacos themselves come in three different ways.
Our first is a traditional carnitas that takes three days to make. The first day we trim the pork butts and render out all the extra fat to make a flavorful manteca or pork lard. We then marinate the pork overnight in sugar, salt, dried Mexican oregano, and orange juice. We cook it in its own fat the next day and let it cool for one more night in that same manteca. The final day is when we heat it up and finish it in small batches on the flat top.
Secondly we have our Pollo Borracho. Chicken thighs are braised with tomato, Ancho Chile, oregano, light beer and tequila. Hence the drunken chicken.
Last but not least; Guajillo Braised Short Ribs. We are braising Short Ribs with Guajillo Chile, Chipotle, Tomatillo, and Amber Beer.
All of the tacos are coming with house made escabeche vegetables and a tomatillo-avocado salsa.
The best thing to pair our new tacos with are definitely going to be our Micheladas and agave based spirit cocktails. My two favorites are new cocktails put together by our bar manager Casey Carr. They are the "Serrano mi Hermano" and "You can't Hibisc' With Us". The "Serrano mi Hermano" is tequila-based with serrano syrup, pineapple, lemon, basil, and black lava salt garnish. The "You can't Hibisc' with Us" is mezcal-based with a with a 36- hour house-made cucumber-jamaica cordial, chareau aloe liquer, and lime.
Batch & Brine cocktails. Mike Patterson & Alex Toro
The Micheladas are really great as well. We are going to be using Dust Bowl Brewing Company's Taco Truck Lager and serving them traditionally red, or a slightly different green. The Micheladas Verdes are made with Serrano, Jalapeno, Pineapple, Cucumber, and cumin. Both get garnished with a chili lime salt that we are making.
Will you guys be starting new specials?
I have a few ideas in the works for weekly events. We started out with the new Taco Tuesday and we are getting ready to start pushing some industry nights. Working out some of the details but we are going to make it super fun. Could be something where we circulate a password around the industry for secret items that change every week.
I think it is really important to do something for the people who have been in our industry going through this pandemic. It's been really hard for any of us to be able to make it out and do something besides quarantine and work. Besides that we are looking at the rest of our menu and new changes coming up, so really, everything is going to be special for a while.
What's the menu inspiration at the moment?
The menu is definitely focused with our chef inspired burgers. Batch & Brine was put together with a love and appreciation for craft cocktails which are often batched or barrel aged and brining our own pickles and meats. We are definitely going to keep that as the center of what we do but also look at the beautiful fresh California produce and products to create a place where you want to go several times a week.
New cocktails. Mike Patterson & Alex Toro
What else are you loving on the menu right now?
I grew up in New York and one of the most impressive things Batch & Brine has going on right now is their house made pastrami. There are no steps skipped on this beauty. From start to finish it takes a minimum of 15 days for it to be ready. All of the briskets are brined for 13 days, coated with spices, smoked, steam roasted, and then finally sliced up. We serve it on a sandwich dubbed the Lower East Side or L.E.S. as well as loaded up on hand cut fries with gruyere cheese sauce. Look forward to some other things with Pastrami soon.
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f8e7babd3400860cfbd2330eca45d68e | https://www.forbes.com/sites/chelseadavis/2021/05/04/three-unforgettable-culinary-experiences-in-puerto-vallarta-resorts/ | Three Unforgettable Culinary Experiences In Puerto Vallarta Resorts | Three Unforgettable Culinary Experiences In Puerto Vallarta Resorts
A sunset dining experience at the Marriott Puerto Vallarta Resort & Spa. Bronwyn Knight
For those that have yet to visit, Puerto Vallarta is a seaside gem that’s more than just your typical resort town. Located on Mexico’s Pacific coast, PV is situated alongside the Sierra Madre Mountains making for stunning landscapes that bring together epic, rugged mountains with beautiful, sparkling shores of the ocean. Widely recognized as of the friendliest cities to visit, PV has managed to stay true to its roots and remains a town filled with local culture, historic buildings, upheld traditions and artisanal arts and crafts.
From the popular Malecon boardwalk to the cosmopolitan Romantic Zone to the historic Old Town, it’s an authentically Mexican destination that has something unique for everyone. Gastronomy, art, nightlife and stunning natural beauty are just a few of the things that should entice you to come one day when you feel ready to travel.
For those specifically looking for unique, customizable dining options a number of resorts are offering unique culinary experiences worth the trip. The following three experiences are expertly curated by hospitality experts looking to make your stay as safe, clean and as enjoyable as possible.
A restaurant experience at the Marriott Puerto Vallarta Resort & Spa. Bronwyn Knight
“We're excited to put together these amazing gourmet moments for our guests where they have the opportunity to experience our rich culinary traditions and taste Mexican dishes that have been passed down through generations of families,” says Cristina Hernandez, Multi-Property Marketing Communications Manager. “Our well-trained staff is able to accommodate a wide array of customizations ranging from food restrictions to religious addendums, all while adhering to Marriott Puerto Vallarta Resort & Spa’s Commitment to Clean.”
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“Everyone has been locked up for so long that we're seeing a growing preference for private outdoor dining experiences,” she continues. “The Westin Resort & Spa Puerto Vallarta has plenty of open-air magical settings to welcome these occasions, from private pergolas to oceanside picnics, surrounded by 600 palm trees swaying to the Pacific breeze. Additionally, through May we will be offering daily grill nights under twinkle lights on the patio of Arrecifes, our beachside restaurant. “
From trips to the market to guided tequila tastings and everything in between, here are just a few examples of the type of culinary experiences that resorts in Puerto Vallarta are creating for guests!
Sunset Picnics at The Westin Resort & Spa Puerto Vallarta. Bronwyn Knight
Sunset Picnics at The Westin Resort & Spa Puerto Vallarta
A former palm tree plantation turned luxury wellness resort, The Westin Resort & Spa Puerto Vallarta is home to 14 lush, tranquil acres that exude relaxation. A few of the resort’s primary focuses include wellbeing and health. For guests that means experiences that provide serenity and calm which is easy to do at such a beautiful place. The resort features two sparkling swimming pools, restaurants with plenty of dietary options, private oceanfront pergolas, and the new sunset picnic experience.
Sunset Picnics at The Westin Resort & Spa Puerto Vallarta. Bronwyn Knight
With petates (woven straw mats) covering the sand, a rustic wooden table, comfortable pillows to sit on, and an overflowing traditional picnic basket this picturesque picnic is both romantic and relaxing. With its picture-perfect, mountains-meets-sparkling ocean landscape as the backdrop for dinner, this dining experience allows you to take in the best scenery while enjoying your meal alfresco.
Catered by Arrecifes restaurant, one of the resort's three on-property restaurants, this experience includes a gourmet selection of charcuterie, fruits, crudites, gourmet sandwiches and of course, bubbly, to accompany the majestic sunsets Puerto Vallarta’s bay is known for.
Tequila Tasting at the Marriott Puerto Vallarta Resort & Spa
The Marriott Puerto Vallarta Resort & Spa is located in the region of Jalisco, which is also the birthplace of tequila. This resort’s longtime Tequila Education Program was originally designed to help educate guests on the origins of tequila and has now expanded to include a culinary pairing experience with the resort’s house made brand of the spirit.
Tequila Tasting at the Marriott Puerto Vallarta Resort & Spa. Bronwyn Knight
The resort, which is just 90 miles from the town of Tequila, developed their own brand called CasaMagna Tequila in 2006. This resort is one of only a few resorts in the world with a proprietary brand of the famous Mexican spirit.
During a tasting experience, guests are invited to learn the art of sipping fine tequila or they can opt for a private session led by the resort’s own “Tequiler” (tequila sommelier), Audrey Formisano.
Tequila sommelier, Audrey Formisano. Bronwyn Knight
The private experience, which can be booked in Marriott’s charming outdoor Herb Garden, features dishes that pair well with the three varieties of CasaMagna: blanco, reposado and anjeo.
An example of dishes include Skirt Steak Brochette with peppers, chorizo, caramelized pineapple and dehydrated banana; Crab Enchiladas with marinaded corn tortillas filled with crab Veracruz style; and Lime Soup with chicken broth, lime essence, shredded chicken and crispy tortilla strips.
“The local flavors are even further elevated when paired with a tasting of the resort's own Casamagna tequila, led by our tequila expert, Audrey Formisano,” explains Hernandez. “It's truly a memorable way to enjoy sensational food, beautiful outdoor set ups, and service that makes you feel like you're at a home away from home with friends and family.”
Tequila Tasting at the Marriott Puerto Vallarta Resort & Spa. Bronwyn Knight
Meet Me at the Mercado: A Culinary Vacation Experience at the Marriott Puerto Vallarta Resort & Spa
Chef Hector Martinez of the Marriott Puerto Vallarta Resort & Spa. Bronwyn Knight
Marriott Puerto Vallarta Resort & Spa recently launched a new culinary experience inviting guests to savor all the flavors authentic to the state of Jalisco. The package gives guests an insider’s experience and in-depth look at the bustling mercado. Guests join the resort’s talented chefs on a trip to the nearby cobble-stoned streets of historic downtown Puerto Vallarta where they’ll select ingredients for the evening’s dinner.
From fresh vegetables, spices and chiles to chicken, seafood and more, the the local Mercado del Mar has it all. This open-air market is home to an abundance of fresh fish caught daily from the Banderas Bay and meat and produce grown by local farmers.
The authentic market trip is followed by an interactive cooking class with the resort chefs. Guests that have a passion for food will love incorporating the day’s fresh market finds into the festive dishes made from the recipes the chefs have grown up with. Think enchiladas served with fried tortillas and freshly made guacamole.
Tostadas at the Marriott Puerto Vallarta Resort & Spa. Bronwyn Knight
Guests will also partake in a Mexican Bites and Desserts cooking class, learning the art of sipping the resort's own proprietary brand of tequila with a tequila sommelier, as well as three dinners, including one paired with tequila and another with wine.
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358abb33ce4efdf295a2cb700dea4115 | https://www.forbes.com/sites/chelseadavis/2021/05/05/celebrity-tattoo-artist-jonboy-teams-up-with-patrn-to-bring-personalized-cinco-de-mayo-festivities-to-your-doorstep/ | Celebrity Tattoo Artist “JonBoy” Teams Up With PATRÓN To Bring Personalized Cinco De Mayo Festivities To Your Doorstep | Celebrity Tattoo Artist “JonBoy” Teams Up With PATRÓN To Bring Personalized Cinco De Mayo Festivities To Your Doorstep
PATRÓN x JonBoy Margarita Collection Kit PATRÓN
Celebrity tattoo artist Jonathan "JonBoy" Valena is known for pioneering the “tiny tattoo” movement. With clients that include G-Eazy, Travis Scott, Hailey Baldwin, Post Malone, Kendall & Kylie Jenner and Justin Bieber, he’s made quite a name for himself and continues to do so with high profile collaborations and more.
Celebrity tattoo artist, JonBoy PATRÓN
JONBOY got his start 20 years ago in traditional tattoo shops after leaving seminary college to pursue the marriage of tattooing and faith. JonBoy eventually took his career to NYC to bring his minimalistic tattoo style to the masses.
This Cinco de Mayo, he’s partnering with PATRÓN to bring the festivities to your house with the PATRÓN x JonBoy Margarita Collection Kit. Featuring PATRÓN tequila and exclusive, original artwork by JonBoy, this kit is inspired by the same personalization and craftsmanship that both tattooing and delicious margaritas have in common.
Consumers are invited to customize their cocktails through their choice of unique JonBoy-designed cocktail toppers that feature everything from an artistic new take on PATRÓN tequila's iconic be logo to JonBoy's signature script and more.
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“I have always been a big fan of PATRÓN and it is my go to choice for tequila so collaborating for margarita season was a no brainer,” says JonBoy “We both have a strong commitment to quality, craftsmanship and passion for our process so the partnership was a natural fit.”
The kit comes in "Classic" or "Deluxe," and are available for purchase for a limited time via Cocktail Courier.
PATRÓN x JonBoy Margarita Collection Kit PATRÓN
We chatted with JonBoy on his tattoo work, this special collaboration, Cinco de Mayo and more. Here’s what he had to say.
Do you see parallels between your tattoo work and crafting the perfect margarita? In what ways?
Yes there are a lot of similarities between tattoos, tequila production and crafting the perfect margarita. There is such a painstaking level of detail that goes into perfecting tattoos and perfecting tequila.
Personalization is what tattooing is all about and it is also a big part of how PATRÓN encourages people to enjoy their margaritas. The PATRÓN x JonBoy Margarita Collection Kit offers buyers with a unique way to customize their cocktails through my own designed cocktail toppers.
When did you get into tattooing? What got you started?
I got into tattooing over 20 years ago. I was intrigued at an early age as my grandfather carried a tattoo from his years in the Navy. Both the art and science of how something can be permanently drawn into your skin has always fascinated me.
I got my first tattoo when I was 19 and I applied my first tattoo over 20 years ago. Since then I’ve witnessed this sacred form of art evolve and I’m very grateful to be part of bringing my art into places I would have never thought.
PATRÓN x JonBoy Margarita Collection Kit PATRÓN
What's your favorite way to drink tequila? How will you be celebrating Cinco de Mayo?
I’m a big fan of PATRÓN and enjoy the different expressions, especially PATRÓN Reposado, which is very smooth and a great choice when wanting to sip neat. I do also really like experimenting with different cocktails, especially while at home, and have found that PATRÓN really elevates the drinking experience and pairs well with a lot of different cocktail choices. This year I’ll be celebrating by enjoying a PATRÓN margarita.
What do you enjoy paring food-wise with your tequila and margaritas?
I love pairing my PATRÓN margaritas with a good fish taco! Chips and guacamole are also an obvious choice!
What's exciting about the PATRÓN x JonBoy Margarita Collection Kit? What makes it special?
The designs created for this cocktail kit with PATRÓN were so fun to make and I really enjoyed combining both of our touches. I took a deep dive into the PATRÓN brand essence to gain a feel, and also really leaned into my own personal design touches. Combining PATRÓN’s history and transparency with my own detailed, minimalist design, a beautiful, simple portfolio of designs were created.
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5bdddb00dc81b5ae7d98ff4844e25197 | https://www.forbes.com/sites/cheriehu/2015/11/10/how-music-streaming-is-creating-a-new-type-of-superfan/ | How Music Streaming Is Creating A New Type Of Superfan | How Music Streaming Is Creating A New Type Of Superfan
The latest statistics on the behavior of streaming subscribers are upending conventional understandings of how and why we consume music.
Last week, media and technology analysis firm MIDiA Research released an infographic on streaming users’ listening habits. According to the graphic, 58% of streaming subscribers listen to an individual album or track only a few times, while 60% of subscribers engage in this behavior due to the desire to discover more new music. These numbers are significantly higher compared to the 30% and 27%, respectively, of overall music consumers with those attitudes, implying that paying subscribers tend to exhibit more casual listening behavior.
These findings put into question historical understandings of music fandom, and have particular urgency in today’s music landscape where streaming revenues are surpassing physical sales for the first time. Indeed, streaming is one of the fastest-growing music formats today: the 2014 Nielsen Music U.S. Report declared record levels of on-demand audio streaming in 2014 at 78.6 billion streams, a 60% increase from 2013. Spotify itself has over 20 million paying subscribers as of June 2015, a 100% increase from the previous year.
Furthermore, MIDiA’s findings are not the first to suggest that our music tastes are becoming both more widespread and more fleeting. Havas Media Group’s FANS.PASSIONS.BRANDS study from July 2015 claims that 59% of music fans ages 35 and older cite discovery as an important impetus for music consumption, while 56% of all music fans listen to 10 or more genres on a regular basis. The study even gives this phenomenon a title: the Shuffle Age.
In light of the correlation between the growth of streaming and the emergence of the Shuffle Age, it is crucial that artists and labels alike work toward a better understanding of the transformative role that streaming subscribers play in the industry. From the label’s perspective, how can one monetize on increasingly casual listening habits, which by definition may involve a lower willingness to pay? From the individual artist’s perspective, how can one reconcile the pursuit of a holistic, stable artistic vision with a potentially much more unstable fan base?
The prominence of streaming services is leading to the emergence of a new dichotomy of superfandom in music—the artist superfan versus the streaming superfan (a.k.a. the paying streaming subscriber). A standard framework for understanding the artist superfan is laid out in the film “Super Fans: The Future of the Music Industry.” Co-produced by direct-to-fan music platform PledgeMusic and online education company Lynda.com, the video defines superfans as those who are willing to pay the most to connect on a deeper level with artists, and provides action items for artists to maximize their superfans’ engagement. First, artists themselves need to work toward increasing their own exposure, “one fan at a time,” instead of relying on labels to do the job. Second, artists need to foster bidirectional conversation with their listeners and foster a personal relationship that extends beyond music.
The MIDiA findings show that a crucial difference between the artist superfan and the streaming superfan is the extent of engagement and conversation. As subscribers actively discover new music and spend less time with each individual album, their tastes are characterized by greater breadth at the expense of depth. They seem to consume music like the average internet user consumes news: as brief sound bites that expire within an increasingly short period of time before being engulfed by new content.
In fact, this more transient behavior could be generalized to all music consumers, not just paying subscribers. “We are now living in the attention economy, where people make investments in artists with their time, not necessarily with cold hard cash,” explains MIDiA founder Mark Mulligan. “Hence we see an increasing amount of competition for time—if you’re streaming an artist or album for free, it’s only one of a whole bunch of albums that are being pushed to you that same day or week. People inherently develop shallower relationships with artists in such an environment.”
The artist/streaming superfan dichotomy can be characterized not only by differences in engagement, but also by contrasting motivations. While artist superfans seek personal identification and connection with an artist, streaming superfans often seek a wider music knowledge base to strengthen their confidence in their own overall tastes, prioritizing expansion of musical and social capital over artist-fan relationships.
Spotify has recently rolled out several features that cater to these streaming superfans, encouraging users to act as tastemakers by giving them algorithmically-generated gateways to emerging artists. The Discover Weekly playlist is a weekly personalized curation of music, based both on one’s own listening history and on a collaborative-filtering mechanism that takes into account what other users with similar tastes are listening to and playlisting. Found Them First is another web app that calculates whether you were in the top 5% of streamers of a particular artist on Spotify. If their algorithm concludes that you did not “find” any artist “first,” the app announces, in a quintessentially eager manner: “You haven’t discovered any artists so far. But that’s about to change! It’s never too late to get ahead of the crowd.” A new playlist then pops into your Spotify account called “Find Them Next”—note that this is not just a title, but an actual command.
Although features like these demonstrate Spotify’s data-mining prowess and leverage streaming users’ predictive power of artist popularity, they do not effectively foster closer artist-fan relationships in tandem with their tastemaker cultivation. While the streaming superfan becomes stronger, the artist superfan becomes weaker. A Spotify user may take on the role of influencer and successfully expand the reach of this “Find Them Next” playlist to a further audience, only to lose interest and dive into a separate discovery cycle with another roster of emerging artists. In the crowded music-streaming world, the earliest customers are not necessarily the most devoted.
In addition, in an economy of attention and abundance, monetary investment is akin to personal and emotional investment. As subscribers are investing money in streaming services, therefore, it is these services, not the artists behind them, who may actually come to hold more emotional power in the industry. This leads to a critical gap where users find value in the opportunities for discovery and tastemaking that streaming platforms provide, but cannot go beyond those platforms to access the artists who are, in many cases, in more dire financial need.
Given the increasing popularity of paid streaming and the fleeting behavior of its users, how can we retain traditional superfan engagement and restore emotional power to creators? Below are three solutions which the mainstream music industry has tackled with mixed success, and must continue to pursue.
Increase opportunities for direct artist-fan engagement on streaming services. As previously stated, artist superfandom necessitates bidirectional conversation to foster more intimacy; by incorporating an artist-fan conversation platform into services like Spotify, the two forms of superfandom can coexist. Apple attempted to make this symbiosis a reality with its Connect feature on Apple Music, but has faced criticism for erring on the more one-directional side—artists seemed to be using the platform solely for concert or album promotion purposes, leaving little incentive or opportunity for engagement in the other direction. Enable listeners to subscribe directly to artists, not just to intermediary platforms. Investing a larger portion of money directly in artists would increase long-term emotional commitment on the part of fans, while maintaining the familiarity and convenient regularity of a subscription model as well as increasing artists’ financial empowerment. Examples of existing products in this space include Patreon (users pledge to pay a fixed amount of money for each product a given artist releases) and Drip (monthly subscriptions to select artists and artist collectives). Use streaming data intelligently to identify genuine artist superfans. In some ways, the vast influx of streaming data makes it easier to pinpoint outliers and true superfans who stream a particular artist or album much more than average, subsequently allowing services to deliver personalized advertising to these superfans. The Bandpage/Rhapsody partnership, whose targeted, timed push-notification messaging to fans has reported a 50% higher engagement rate, is a successful example of using insights from data to cater to a diverse range of streaming users.
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44b57ae03616df97614b69139d4099fa | https://www.forbes.com/sites/cheriehu/2015/12/23/what-spotifys-2015-year-in-music-says-about-shifting-priorities-in-streaming-culture/ | Spotify's 2015 Year In Music And The New 'Streaming Monoculture' | Spotify's 2015 Year In Music And The New 'Streaming Monoculture'
I remember coming across Spotify's annual Year in Music feature for the first time at the end of 2014. As a sporadic music forager, I found it relieving to see that someone (or some machine), somewhere, could map out large themes in my music listening history, from top genres to seasonal clusters of artists and albums. The Year in Music served as an educational experience for me in other senses, too; for instance, my favorite genre of the year turned out to be a hybrid I had never encountered before, called "dreamo" (short for dreamy emo).
All of the 2014 Year in Music stats are still intact in 2015, with some modifications. There are new categories of songs like "earworm" and "unknown," putting a quantitative spin on commonplace notions of "stuck in your head" and "hipster." There is also a new focus on growth—I now know that I listened to 10% more songs and 23% more artists in 2015 than in 2014, likely due to the addition of new features like Discover Weekly. With these new stats, I could see streaming turning into almost a game or competition, featuring a leaderboard of users who exhibited the most year-to-year growth (the way streaming is changing listening behavior in the aggregate makes this gamification an even stronger possibility).
The landing page for Spotify's 2015 Year in Music.
More importantly, however, the spotlight in the 2015 Year in Music seems to lean away from individual behaviors and toward collective tastes. After showing a user's personal streaming statistics, the website transitions to a series of playlists that map to larger music-industry trends and historical events. Topics featured on these playlists include the accomplishments of artist-tastemakers like Max Martin and D'Angelo, the incorporation of underground genres such as tropical house into the mainstream, and milestones like the legalization of gay marriage and the first-ever album recorded in space.
The message that Spotify sends in giving these playlists such a strong presence in the Year in Music is powerful, if not slightly unsettling: music not only can serve as a lens for understanding the world, but also can mobilize action and inspire new waves of pop culture. Furthermore, rather than serve as a differentiator of taste, outputting a personalized profile that users could compare with their friends, the Year in Music has more explicitly taken on the role of unifier, exposing users to shared experiences.
This shift in approach reminds me of one of the first longer-form journalistic pieces on Apple Music, which appeared in the New York Times in June 2015. A profile of influential British radio DJ Zane Lowe, who was recruited to anchor the LA station of Apple Music's Beats 1 internet radio service, the article also features a profound quote from award-winning musician and composer Trent Reznor, who was also on the Beats 1 launch team.
“I wondered if in today’s world there is still a place for monoculture," said Reznor. "Can that still exist?”
Monoculture? At first glance, the word seems strange, if not irrelevant, in today's music ecosystem—personalization and niche marketing are more likely buzzwords than monoculture or collective strategy. The origins of musical monoculture, however, can be found in terrestrial radio, which not only was (and still is) a historically powerful influencer of mainstream popularity, but also created live, communal audience experiences in which otherwise isolated people could tune in to the same songs at the same time.
Although the advent of CDs, mp3 players and streaming services may have reverted listeners' habits to a more isolated state, Apple Music's incorporation of live, 24/7 radio into its streaming service suggested that terrestrial radio's communal power could be replicated in an increasingly digitized, fragmented world of music consumption. No other streaming service has a live radio component, but the rise of playlists on Spotify, and the attention accrued to them in the 2015 Year in Music, are a similar salute to the legacy of human curation (for example, the #blacklivesmatter playlist is curated by Spotify's Global Programming Heads of R&B and Hip-Hop, Mjeema Pickett and Tuma Basa).
These trends suggest the emergence of a two-pronged "streaming monoculture," marked by homogeneity in content as well as in behavior. Artificial intelligence and machine learning, as implemented in features like Discover Weekly, drive the increasing breadth of individual listening, while human curation encourages and maintains a more collective approach to music consumption, highlighting music as both a reflection and a catalyst of a shared history. One wonders whether these two worlds will collide in the near future—in other words, whether vastly expanding swaths of data and ever-growing user bases can give streaming services like Spotify the power to engineer groupthink on a much more precise level.
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d97bae202092b9865d34be1c0522b6b8 | https://www.forbes.com/sites/cheriehu/2016/01/31/tech-companies-are-leading-the-rise-of-crowdsourced-ar/ | Tech Companies Are Leading The Rise Of Crowdsourced A&R | Tech Companies Are Leading The Rise Of Crowdsourced A&R
Music professionals have heard the eulogy all too many times: A&R (artists & repertoire, the division of record labels that oversees the artist development process) is dead.
I suggest a slight modification: A&R as we know it is dead, but as a whole it is very much alive—it just takes on vastly different forms from the past. In particular, we are seeing a slow but steady transition of power in the scouting and curation processes from labels to fans. A growing number of startups are exploring this new model of crowdsourced A&R, which aligns the interests of artists and fans by making consumer engagement a fundamental component of the artist development process.
TECHNOLOGY AND A&R: A BRIEF HISTORY
In previous decades, A&R executives guided their clients through every step in their careers, from discreet scouting at local venues to the final mass distribution of albums. Nowadays, with slashed budgets and the unrelenting pace of technology, labels need to allocate their time more efficiently and make smarter financial decisions about who they sign on. Hence, the responsibility for much of the initial development process—building a robust fan base, securing smaller gigs—has fallen onto the shoulders of the artists themselves, and is almost an unspoken prerequisite to signing any label contract.
An unfortunate side effect of this added responsibility is that there is an abundance of noise (in every sense of the word) on Facebook , Twitter , Soundcloud and other social media and streaming platforms. There is an extreme long tail on these services; there are approximately 4 million songs that have not been played once on Spotify, and as much as 95% of iTunes songs have fewer than 100 downloads. In addition, these platforms often create a false sense of engagement on the part of consumers, who can like as many posts as they want regardless of how much time they actually spend engaging with these posts. The unending rush to place content online plus the correspondingly haphazard actions of internet users have made more ambiguous the chances of breaking an artist successfully on the internet.
Accompanying this noisy content is noisy information about how to monetize on one's content effectively. In his book The Signal And The Noise, statistician and writer Nate Silver writes that the great paradox of the information age is that “the gap between what we know and what we think we know may be widening.” The music business is no exception to this rule. As the number of available creation and distribution channels increases, many musicians actually know less and less about the true workings of the industry, the most important connections to make, and the most accessible, artist-friendly resources.
Over the past decade, many music-tech companies were founded on the core mission of closing this gap and giving emerging artists better opportunities to break into the mainstream sphere. When Spotify first launched, it was praised as an equalizing platform for the music industry, giving artists at any career stage the opportunity to monetize their music easily and effectively. Since then, it has been revealed that major labels collectively own at least an 18% stake in Spotify, and have even reportedly been in talks to remove the streaming service’s free-tier option for certain artists' releases. For many, these moves only perpetuate the long-standing inequity between mainstream and independent music spheres, on a platform that was supposed to be leveling that playing field. Soundcloud’s recent licensing agreement with Universal Music Group, while allowing for a wider range of music to exist on the free service, poses a similar danger that already well-established artists will still come out on top in spaces that were initially intended for underground audiences.
A&R AS A VIRTUAL STOCK MARKET: TRADIIO
Tradiio is one of a handful of startups that are exploring the model of crowdsourced artist... [+] development. Photo credit to Tradiio.com
Miguel Leite was working as a label manager at Universal Music Group in Portugal when he realized how ineffectively the internet’s various forces were working to help emerging artists. He recognized the potential for technology to empower artists financially as well as socially. “The internet has democratized the way artists create and share music, but now we need to democratize their opportunities to make money,” says Leite.
With André Moniz and Alvaro Gomez, Leite co-founded Tradiio, an online streaming platform for emerging artists that touts itself as a crowdsourced artist accelerator. Unlike other crowdsourced music discovery applications, Tradiio implements a stock-market model: users invest virtual coins in their favorite tracks, develop their own portfolios of songs and artists, and earn or lose money based on how well their artists perform on the Tradiio “market.” The most successful artists gain access to a wide network of professional studios, contracts with major labels (including Universal Music Group) and festival gigs. Meanwhile, fans who earn enough coins with their investments can trade them in for albums, merchandise, festival tickets and other perks—for instance, one can receive a free copy of Kanye West's album Yeezus for 50,000 coins, or a three-month subscription to Vinyl Me, Please for 150,000 coins.
Through this dual reward system, Tradiio makes artistic gatekeeping more interactive and more reliant on fans. Furthermore, in contrast to the more free-for-all nature of social media, the stock-market model on Tradiio implies that "each user needs to make a careful, calculated decision about which artists to endorse,” explains Leite. “With millions of users making these careful decisions, you have the perfect curation process."
Tradiio's international reach (the company is based in Portugal and London, and its largest artist base is in the United States) means that aspiring artists from all over the world can network with each other on the platform, whether for mutual support or for future collaborations. Just this week, for instance, two of Tradiio’s top artists, Young Troubled Minds and Jae Khid, collaborated on a track called “A.T.O.D.” that is now available for streaming on on the site.
CLOUD COLLABORATION AND MONETIZATION: BLEND.IO
Blend.io, a cloud collaboration platform for musicians, rolled out its own crowdsourced label in October 2014. Through the label, the most up-voted tracks on Blend are considered for release either as a single or as part of an EP or compilation album. The label's second compilation album, Various Blends Vol. 2 ,will be released on February 19 and will feature songs produced by artists from Florida, Baltimore and Oregon in the US, as well as from Norway, UK, Bangladesh. The startup is also hosting a remix competition that will lead to a separate compilation release.
Blend's new crowdsourced label gives its most popular tracks opportunities for distribution to... [+] platforms like Spotify, iTunes, Beatport and Deezer. Photo credit to Blend.io
Blend has a slightly different backstory from Tradiio, as it was initially conceived as a tool for the creative process before venturing into monetization and distribution. Moreover, since cloud collaboration is naturally better-suited for electronic musicians, the releases on Blend have a relatively more consistent sound (namely electronic). Tradiio, meanwhile, hosts impressive artists of all genres, although the most successful ones do tend to align with the larger music trends of the time.
Many of the consumers on Blend are also creators who post their own work on the site, but the crowdsourced label concept is also aiming to engage its non-artist consumers, by providing a more interactive music distribution experience and eliminating any extraneous gatekeepers. “There remains a lot of opportunity in the music industry since it isn’t optimized for artists, or even for fans,” says Blend co-founder Alex Kolundzija. “We hope to improve the model with a focus on these two groups.”
The “crowdsourced” component of these new A&R models is actually nothing new in the music industry. Artists have crowdsourced finances for tours and albums for decades, more recently on platforms like Kickstarter, PledgeMusic and Patreon. On the other side, fans have crowdsourced knowledge about their favorite artists and songs on websites that are both more niche, like Genius and WhoSampled, and more general, such as Wikipedia. What is so game-changing about platforms like Tradiio and Blend is that they are crowdsourcing taste and sound, concepts that are arguably much more abstract and individualized than money or historical fact. The eclectic success stories that emerge from these models pose a challenge to how labels will continue to differentiate themselves from each other in the coming years.
CAN THE MAJOR LABELS BENEFIT?
Despite their changing role, major-label A&R divisions are still some of the most powerful forces in the industry today, due to their access to more mainstream distribution channels such as terrestrial radio airplay and placement on late-night TV. Nonetheless, crowdsourced approaches to talent scouting and curation cultivate more organic, more robust growth for artists that may also lead to more success at a major label. In fact, although the use of platforms like Tradiio and Blend has mostly been restricted to emerging artists, mainstream artists have a lot of potential value to gain from these platforms, too.
“Established artists and labels can engage in the data-driven discovery on Blend to find new producers, remixers or collaborators,” explains Kolundzija. “Leveraging each other's Blend networks also helps drive exposure and engagement around their music.” As previously mentioned, Universal Music Group has already been using Tradiio as an accelerated scouting platform, ensuring that the artists it signs from Tradiio already have a significant following online. The crowdsourcing of opinion allows for better-informed, more transparent decisions; this power of the crowd is not limited to music, as past research has shown the effectiveness of crowdsourcing as a tool for corporate innovation in all sectors.
Major labels can also learn from the interactive component of crowdsourced A&R, which is certainly scalable and in fact has been achieved at scale in the past. The popularity of video games like Guitar Hero and Rock Band have proven the effectiveness of more interactive, more visual and more unconventional fan engagement with music. The mainstream industry has only slowly begun to shift in accordance with this trend, with new developments in technology such as virtual reality.
A final lesson that everyone can learn from crowdsourced A&R is how exactly we should define genre in the future. It is no news that genre boundaries are blurring more with time (notable examples include Lady Gaga as the pop-queen-turned-jazz-crooner and Kendrick Lamar as the free-jazz rapper). What Tradiio and Blend teach us in particular is that genre is defined as much by the consumer as by the artist—as much by the people attending your concert as by your own musical style. As Kolundzija describes, crowdsourced artist development platforms give genres enormous potential for “reinvention by having people from different cultures around the world create and curate music together."
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ee5ea5bd44c87ce64fb37abcf5912b4b | https://www.forbes.com/sites/cheriehu/2016/07/05/are-algorithms-endangering-our-ability-to-fight-for-the-music-we-love/ | Are Algorithms Endangering Our Ability To Fight For The Music We Love? | Are Algorithms Endangering Our Ability To Fight For The Music We Love?
Jeff Smith, Head of Music, Radio 2 and 6 Music at BBC, speaks about his work at the Sónar+D... [+] conference in Barcelona in June. (Photo courtesy of Sónar+D)
On a sunny Thursday morning in Barcelona last month, dozens of professionals gathered under a wooden awning at the Sónar+D conference to hear prophecies from opposite ends of the music curation spectrum: algorithmic playlisting and old-school terrestrial radio. It was a jarring but much-needed juxtaposition, suggesting that curation as we know it is both more fruitful than ever and in danger of dying out.
The voices on the algorithmic side were Spotify’s Matthew Ogle and Ajay Kalia, the streaming service’s Product Owners for Discover Weekly and Taste Profiles, respectively. As many in the music industry are aware, playlisting is Spotify’s dominant currency—its 100+ million users have made over two billion playlists to date, an average of over 20 playlists per user and counting—and Spotify has used this currency not only to draw a detailed map of every user’s taste, but also to deliver high-quality, automated recommendation services.
One of its most popular recommendation features, Discover Weekly, analyzes the relationships between songs that result from playlisting activity in the aggregate (a feat of “collaborative filtering”), and creates a custom playlist for each user that refreshes every Monday morning. Since its launch last year, these automated playlists alone not only have accounted for five billion streams, but also have become an important force in some emerging artists’ streaming stats, with at least 8,000 artists receiving over half of their Spotify streams from Discover Weekly. Indeed, as Ogle and Kalia discussed in-depth, algorithmic playlists help both artists and listeners by connecting the right music with the right ears, all while centering on granular personalization—in Kalia's words, the operative motto is "it starts with you."
Does this mean machines are the best musical cartographers? Jeff Smith, Head of Music, Radio 2 and 6 Music at BBC, would suggest otherwise. He took the stage after Ogle and Kalia that morning and, among other topics, described a typical BBC radio playlist meeting to the audience (you may be thinking: people still hold meetings for playlists? Can’t we just let algorithms do the work?). Such meetings take place at a round table of 12 to 15 representatives from the station’s daytime and specialist music programs, and Smith has one deceptively simple request for each of them: champion the music they are playing over the air, without using any data analytics.
“I could sit around looking at plots,” said Smith, pointing to his phone, “or I could listen to what human beings around the table want to fight to get onto that playlist." He cited “Paranoid Android,” the lead single from Radiohead’s 1997 album OK Computer, as a key example: it was put straight to the radio’s A-List at the time due to sheer love for the song, but would not have been close to making the list with purely data-driven methods.
Smith’s words resonate strongly with me to this day, as I witness the unfolding of an increasingly tumultuous streaming world ridden with accusations, rumored acquisitions and what some have called “brand suicide.” We continually hear of streaming services rolling out “improved” discovery features, securing exclusive audio and video content at increasing costs and acquiring startups with a questionable shelf life. But what is this all for, and what impact do these developments have on our music culture on an emotional (and therefore fundamentally financial) level?
Before I continue, a disclaimer: I not only am an avid Spotify Premium user, but also listen to Discover Weekly religiously every week, at the same time every Monday. While the recommendations are hit or miss for me, the hits exceed my expectations and make it worth the weeks that are not as top-notch. What I appreciate the most about Discover Weekly is its constant, dependable evolution over time; playlists, after all, should not be static artifacts, but rather an expression of individuality with continuity.
Hence, the problem that I have with Discover Weekly and other forms of algorithmic playlisting is not about the “filter bubble” (relying so much on a personalized search algorithm that one becomes isolated in a world of pre-existing preferences without venturing outside one's comfort zone). Neither is it about the biases that come from practices like playola (major labels paying anywhere from $2,000 to $10,000 per song to be featured on playlists, echoing the “payola” practices within the terrestrial radio sector), which does not touch playlists like Discover Weekly anyway. It is about losing the ability, as Smith put it, to fight for the music that we love.
Streaming services are a small portion of what can be called the decision-reduction industry, in which humans leverage artificial intelligence to reduce the number of smaller-scale decisions they need to make on a daily basis. In this sense, what Spotify does for music discovery is the same as what Facebook’s “Trending” section does for journalism, or what Amazon’s recommendations do for online shopping.
In music, decision reduction works best when coupled with expanded listening opportunities. At Sónar+D, Kalia cited a humorous example of discovering through Spotify’s playlist analysis that 5% of users who listen regularly to funk legend James Brown also like rap-rock group Limp Bizkit—a correlation that would be ignored or dismissed as noise within the context of a terrestrial radio station. “If you think of a music service as an evolution of what came before on radio and in stores, those formats demanded that you take music and chop it up, categorize it and put it into the right box,” explained Kalia. In contrast, with Spotify’s Discover Weekly, "instead of asking you to sand away those jagged edges, now we can make the most of them."
Understandably, decision reduction also transforms the way we think. As computer scientist Jaron Lanier wrote in his book Who Owns The Future?, once people are used to having such a service at their disposal, "their cognitive style and capacity becomes molded by the availability of the service.” Lanier was referring more to social media platforms, which mold our cognitive style to being drawn toward artificial rewards such as likes and shares, but his framework applies to streaming services as well. Once we become regular customers of services like Spotify and Pandora, we adapt our daily activities around their promise to deliver highly targeted music on demand, and almost instantly turn away when they fail.
On the curators’ side, this shift in thinking implies that the practice of optimization is more valuable than the art of persuasion. As subscription on-demand models play a larger role in driving the music industry's long-delayed growth state—having finally surpassed digital download revenue decline in 2015 to account for around 15% of recorded music revenue—every online stream and view counts toward companies' bottom lines, which increasingly blurs the boundary between tastes and needs. Curators may have a certain taste in music, but may ultimately program the "tastes" that meet a certain threshold of streams; meanwhile, consumers increasingly listen to music not so much in accordance with their tastes, but rather as a background tool to facilitate other tasks such as working out, cooking or even sleeping. There is a bubbling ecosystem of startups reflecting this priority shift, specializing in areas such as playlist tracking and optimization (Feature.fm, Entertainment Intelligence) and context awareness (Geobeat, Prizm, NumberEight).
I have a theory that when we rely on machines to deliver our musical “needs," we are in danger of becoming less articulate about what we want, what we love and why. While I have discovered some of my favorite artists in recent months from my Discover Weekly playlists, I admittedly cannot pinpoint exactly how or why I came to view some of these artists as my favorites, other than uttering “an algorithm found it for me." Perhaps this is my own fault, but I don't think I am alone. Algorithms carry neither emotional weight nor genuine "taste," but rather present complex statistical correlations in an easily digestible manner, with which I think we are becoming more complacent (the fact that a Google search for the exact phrase “fight for an algorithm” yields zero results perhaps alludes to this complacency).
It is important to note that the backend technology behind algorithmic playlists is usually coded by music fans for music fans, and they are certainly not intending to “destroy culture” through its digitization, as some have argued. Furthermore, the passive, "lean-back" consumption habits on streaming services and the impassioned, contextual curation behind terrestrial radio stations are not antithetical. Smith himself was previously Director of Music Programming at Napster, and claimed during his talk at Sónar+D that streaming services can help radio stations gain more insight into their audiences, and vice versa. He even suggested that YouTube stars may be the DJs of the future, because they both are passionate about their content and worldviews and know how to engage closely with their digitally-native fans; this future is inseparable from data analytics, which is often an essential component of YouTube celebrities' success.
The way each of us discovers music, however, is like our own language, and we should be careful not to let algorithmic playlists (even constantly-evolving ones like Discover Weekly) put that language into stasis. We need to make sure that we can keep fighting for the music that we listen to; after all, artists' financial and emotional well-being across all career stages derives largely from the ability of superfans to deliver a human-centered argument for their worth in the world. In turn, superfans derive this ability not from algorithmic optimization, but rather from friction—which is where the original concept of discovery got its magic.
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c163e6c570b52fe22b1c8005b83c081e | https://www.forbes.com/sites/cheriehu/2016/07/07/why-audio-streams-just-surpassed-video-streams-for-the-first-time-in-u-s-music-history/ | Why Audio Streams Just Surpassed Video Streams For The First Time In U.S. Music History | Why Audio Streams Just Surpassed Video Streams For The First Time In U.S. Music History
Daniel Ek, CEO of Spotify, speaks to reporters at a news conference on May 20, 2015 in New York.... [+] (Photo credit: DON EMMERT/AFP/Getty Images)
The U.S. music industry just reached a milestone that really should have been true all along: Americans are now more likely to listen to music than watch it on YouTube—but that doesn't necessarily mean that musicians will make more money this year.
According to mid-year reports from leading media analytics firms Nielsen and BuzzAngle, audio has officially surpassed video as the leading on-demand music streaming format. Audio streaming volume saw year-over-year (YOY) growth as high as 108%, reaching 114 billion streams to date in 2016 and now taking up a record 54.6% share of the entire streaming market. In comparison, video streaming volume increased by 28% YOY, reaching 95.2 billion streams to date this year. As a whole, the on-demand music streaming market saw YOY growth of 58%—reaffirming a growing sentiment in the industry that streaming is here to stay, and that the music economy must adapt accordingly.
Why is audio in particular doing so well? The answer is not simply because there are more users. Spotify did manage to grow its paying subscriber base from 10 million in May 2014 to 35 million as of this month, but the total number of audio streams grew at a much faster rate over the same time period. While Apple Music has over 15 million subscribers, it also has a user churn rate of 6.4% each month—nearly three times that of Spotify, according to recent research by Cowen Group. Tidal, which has built its business model largely on high audio fidelity, currently has only 4.2 million paying subscribers, and acquisition rumors may dismantle its slow yet steady independent growth strategy. Pandora had just 3.9 million paying subscribers as of last quarter, a meager 4% YOY increase (it is worth noting that, as an internet radio service, Pandora falls out of the on-demand space that Nielsen and BuzzAngle are tracking).
The more appropriate answer is that existing users are now listening to even more music. In spite of their struggles to turn a profit, audio streaming services excel at designing incentives to keep users returning to their platforms. Apple Music and Tidal focus on securing high-profile content exclusives and unconventional curators such as Alexander Wang; Spotify rolls out new automated recommendation experiences such as Discover Weekly and Fresh Finds on a regular basis. Moreover, audio is fundamentally more portable and versatile than video—it is much easier to stream audio while jogging or cooking than it is to watch a video at the same time—and features such as Spotify Running are responding to this trend and expanding the number of mobile touch points for engaging with music.
Some have interpreted this news as a sign of video’s declining influence in the music industry, but that sector is still seeing impressive growth—dominated by YouTube and Vevo, and now joined even by Spotify, Tidal and Apple Music themselves as they venture into original video content. The launch of platforms like YouTube Red also points to this inevitable convergence between audio and video online. As a result, BuzzAngle CEO Jim Lidestri told Forbes that “the audio streaming sector most likely will not be able to replicate such impressive year-over-year growth in the future."
U.S. Recorded Music Revenues by Format | PrettyFamous
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The reports from Nielsen and BuzzAngle also reveal our increasingly bite-sized digital consumption habits, which both feed and derive fuel from streaming's rise. While sales across all digital formats continue to decline, digital album sales are actually decreasing at a faster rate with each calendar half-year (9.2% decline in the second half of 2015 and a 9.4% decline in the first half of 2016, according to BuzzAngle). Furthermore, revenue from digital song sales so far in 2016 still outnumbers digital album sales by nearly a 9-to-1 margin ($410.5 million versus $45.9 million, respectively).
As these music sales are plummeting, an even more pressing question looms ahead: what does the surge in streaming activity really mean for the financial future of the music business? The answer is unclear in part because neither Nielsen nor BuzzAngle provides a breakdown of streaming activity from paying subscribers versus from ad-supported free users. The Recording Industry Association of America (RIAA) usually provides this breakdown in its mid-year report, which has yet to come out for 2016.
According to the RIAA, 2015 was the first year ever when streaming singlehandedly drove overall revenue up by 0.9%, bringing the music business to its first growth state in over a decade. Any claim that this growth will continue into the future rests on several assumptions: that paid streams will outpace ad-supported streams, and that the volume of video streams and SoundExchange distributions (payouts of royalties from non-interactive digital services like Pandora and SiriusXM) will continue to rise, which is ambiguous amidst increasingly heavy competition from the on-demand streaming world.
Gallery: How Punk's 40 Greatest Albums Perform In The Digital Age 38 images View gallery
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85db22c23dfd832f38a6393d291b8589 | https://www.forbes.com/sites/cheriehu/2017/01/24/jake-schneider-agent-music-tech-edm/ | Powered Up: Inside EDM Agent Jake Schneider's Tech-Savvy Mind | Powered Up: Inside EDM Agent Jake Schneider's Tech-Savvy Mind
Jake Schneider (left) posing with DJs Wendy Darling and Bassnectar in front of a sold-out audience... [+] at Madison Square Garden. (Photo courtesy of Jake Schneider)
If you ask Jake Schneider about productivity apps, a river of startup names flows off his tongue like a fluent language.
“Spark, Boxy, MailButler, Wunderlist, Mobileday—those are some of my favorites,” he begins. “You should definitely let me know about any new email apps you're using. I have to check out them all.” He proceeds to list more tech blogs than I can count on my two hands, from mainstream publishers like Lifehacker and TechCrunch to lifestyle- and gear-focused publications like Cool Material and Wareable, as his favorite resources for discovering new products.
Schneider is not your typical tech nerd. He makes his living booking shows for musicians, most recently as Partner and Director of Agency Development at Madison House, where he counts rising electronic artists like Bassnectar and Keys N Krates among his clients. Having grown up with the digital music revolution—he started his freshman year at the University of Iowa one year after Napster was founded—Schneider has since devoted much of his career and free time to shattering stereotypes about technological literacy in the music business.
“In this day and age, agents have to be tastemakers,” he asserts. “For instance, there's been a recalibration in the electronic industry, in the sense that it's not all about the top 40 blockbuster DJs anymore. People are really excited by more alternative electronic styles. I think this focus on the fringes is inherently related to being well-versed in tech."
Representing a wide range of genres—from American Idol alums Kris Allen and David Cook to hip-hop groups Hilltop Hoods and Hieroglyphics, in addition to DJ-producers and jam bands—Madison House has recently expanded into Nashville and Ann Arbor, and was nominated for Independent Booking Agency of the Year at the 2016 Pollstar Awards. Amidst this growth, Schneider is constantly on the hunt for digital tools to make his packed schedule easier to handle, without sacrificing quality for quantity.
His three highest priorities when evaluating new technologies are communication, convenience and longevity. The first pillar stems from how, as with many other industries, music is a people-driven enterprise. "Contacts are the most important thing," he claims. "It’s all about relationships."
According to Schneider's estimates, agents receive anywhere from 500 to 1,500 emails a day, reinforcing the urgency for more efficient email clients that can handle rising deal volume across all music sectors. “We're at the biggest crossroads between what email currently is and what it needs to be, because of its value and volume for everyone across so many different industries,” he says.
His desire for efficiency extends beyond his office walls and into festival crowds, tour buses, and even his own home. "If I'm flying to London for a show, I can't be charging my headphones all the time," he says. "If I’m at a music festival or on a work trip, I don’t want to bring my laptop everywhere; I want to be able to pull up a show contract on my phone or tablet.”
Schneider's favorite devices for on-the-go convenience include the HooToo TripMate, a travel router and media server that doubles as a power bank, and goTenna, which enables text and GPS in regions with low cellphone reception. In addition, he's tested several wireless headphones such as the Beats Solo3, and always carries an extra iPhone battery pack in his pocket. His house doubles as a shrine to the Internet of Things, including but not limited to six Amazon Echo Dots and a handful of Flics, which outsource smartphone functions to wireless silicone buttons.
Yet, despite being such a tech-savvy music professional, Schneider seldom embraces music startups. When he attended the 2016 SF MusicTech Summit as a panelist on "Live Events: The Power of Tech," he noticed a crucial missing piece from the music-tech landscape that lay in front of him.
“All the companies that came to me that day were very much geared toward the general consumer," he recalls. "None of the products would directly make my life easier, or impact an larger agency like Madison House. There are only so many agents in the world, though, so it might not necessarily warrant someone developing an entirely new set of independent software.”
The one big exception: social media analytics. Schneider was one of the first beta-testers for Next Big Sound, a music analytics firm acquired by Pandora Media in May 2015. An alumnus of the nearby Techstars Accelerator in Boulder, Next Big Sound has proven invaluable for Schneider in narrowing down support acts for his clients' tours.
"We would narrow agents' submissions down to 10 acts, go onto Next Big Sound, plug them all in, and generate a comparison chart using social media and SoundScan data to see who's buzzing the most,” he describes. “I think something like Next Big Sound is valuable to promoters and agents, because I believe in social media and the importance of narrative and interaction in predicting success.”
A growing number of social media and playlist analytics startups are infiltrating the music industry today, such as French firms Soundcharts and My Band Market, whose customers include booking agents, managers and record labels. It remains nebulous, however, to what extent the supply of agent-focused entrepreneurship matches demand.
In an era when many agents prefer to conduct business using a pen and paper, evangelizing technical expertise is an uphill but nonetheless promising battle that requires action on the individual level. “Most agents want to keep things the way they like them, and don't want change because they’re focused on shredding through and booking shows, that’s their whole deal," says Schneider. "I strongly believe that if you want to see real technological change at booking agencies, the agents themselves have to take initiative."
Such a philosophy imbues the phrase "change agent" with an entirely new, provocative and hopefully prescient meaning.
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3384afd8e5c94d6ebb9972023028bff7 | https://www.forbes.com/sites/cheriehu/2019/01/11/music-video-tech-business-transform-2019/?utm_campaign=The%20Music%20Network&utm_medium=email&utm_source=Revue%20newsletter | Four Ways The Business Of Music Videos Will Transform In 2019 | Four Ways The Business Of Music Videos Will Transform In 2019
NEW YORK, NY - AUGUST 20: American Express and Ariana Grande present 'The Sweetener Sessions' at... [+] Irving Plaza on August 20, 2018 in New York City. (Photo by Kevin Mazur/Getty Images for American Express) Getty
Speaking at the Cardozo School of Law on December 5, 2018, YouTube’s Global Head of Music Lyor Cohen made an argument that initially seemed frivolous, but actually rings with a deeper truth:
“The music business used to be an audio business, and then it became an audiovisual business. Now, I think it’s going to become a visual audio business.”
Cohen didn't just switch around the words “audio” and “visual” for fun: the new economics of digital music and media arguably demand it.
During its heyday in the '90s, MTV provided a valuable channel for major labels to shape the visual appeal of its biggest stars, from Michael Jackson to Madonna, but nailing that video placement was always secondary to driving record sales. Overall, during the "golden age" of recorded music in the last two decades of the 20th century, videos and live tours were often treated as advertisements for albums—prioritizing the commercial performance of the audio over that of the visual.
Nowadays, it's the other way around. The margins on streaming are much lower than on physical purchases, and while major playlist placement can give featured tracks up to six figures of additional revenue, many in the industry have expressed disillusionment around the strategy's efficacy for long-term fan development. As a result, artists are increasingly incorporating video and other visuals not just into their creative processes, but also into their business models from the very beginning of a project, turning to captive audiences on the likes of Instagram, YouTube, TikTok and even Netflix for support.
“Even though there’s nothing like MTV now, videos today are more important than ever, because everyone’s holding a smartphone," Dre London, manager of Post Malone and founder of London Entertainment, told me. “Most people worldwide immediately go to YouTube as soon as they hear a song they like. Videos get to show artists in a different light from a live show. And you have to capture it right, or else you end up having the wrong look out on the internet forever.”
In fact, music plays a crucial role in convincing venture capitalists about video's potential for growing consumer businesses across the board. For instance, in a recent blog post about the future of consumer startups, Andrew Chen, General Partner at Andreessen Horowitz, writes that video is “the new technology at scale." To back up his point, he appropriately cites the fact that while it took the 2012 video for Psy’s “Gangnam Style” almost five years to reach three billion views, the 2017 video for Latin crossover hit “Despacito” accomplished the same feat in just one year.
As the video-tech landscape continues to evolve and scale in 2019, so will the creative benefits and challenges it offers to the music industry. Below are four ways that the business of music videos will change this year, along the axes of aesthetics, delivery and monetization—with specific examples of artists who are already moving the needle.
1. They will be livestreamed.
At its most powerful, music fosters shared, emotional connections—whether virtually between an artist and a fan on a streaming platform, or in person between a full stage production and tens of thousands of fans in a stadium. For many artists, live events also comprise a more profitable revenue source than recorded music, as it can take a song up to a few years to recoup on its expenses in a streaming-first landscape (if it does at all).
A-list artists are repeatedly making the case that their fans crave these shared events virtually as much as in person, especially if the artists themselves are in command of the execution. Kanye West used a relatively small live-streaming app called WAV to broadcast the release party for his album Ye, which catapulted WAV to the top of the Music charts in the iOS App Store. Ariana Grande attracted up to a record-breaking 829,000 simultaneous viewers to the live premiere of her music video for “thank u, next,” which she and her team orchestrated using YouTube's Premiere feature.
One of the biggest opportunities in live-streaming revolves around the derivative ecosystem of content that can come from a given broadcast. In his blog post, Chen emphasizes the potential of “video-native” products, which he defines as “any product that automatically generates video when users engage.” Minimizing the amount of friction to video creation can encourage “more video-sharing activity, thus more viral acquisition and engagement,” writes Chen.
Esports is a perfect example of a “video-native” product, in large part because of its vibrant livestreaming culture on platforms like Twitch and, increasingly, YouTube and Facebook. It’s no coincidence that a growing number of artists and record labels are partnering with esports companies to cash in on these naturally viral dynamics.
Of course, music videos are by default "video-native"—and, at their best, highly meme-able—yet they have intersected surprisingly little with livestreaming to date, perhaps because the business model around the format remains relatively unsettled for the long tail of artists. While brands seem comfortable with one-off sponsorship opportunities for livestreams of larger events like Coachella and California Roots, the market for dynamic advertising against livestreams from more emerging artists and personalities is still relatively more freeform, even on the biggest platforms like Twitch.
Aside from ads, another source of potential revenue in livestreaming involves direct contributions from users, in the form of pay-what-you-want donations or "tips"—a model that is already being normalized in some non-Western markets, and which is discussed in the next section.
2. They will enable more financial support directly from fans.
Crowdsourcing funds for music videos is nothing new. Platforms like Patreon allow artists to set up pay-what-you-want crowdfunding structures on a project-by-project basis, such that fans can contribute anywhere from $1 to $100 for each video an artist releases (see Amanda Palmer and Peter Hollens for key examples).
What is relatively newer in the music world is the concept of micropayments for videos, both during and after their release.
When Chinese music giant Tencent Music filed to go public on the New York Stock Exchange, the company's financial statements revealed a surprising alternative business model compared to that of a standard Western streaming platform. Tencent made over 70% of its music revenue in Q2 2018 not from audio streaming, but rather from “social entertainment services,” including in-app monetary “tips” and other virtual gifts that users could send to each other. Many digital influencers across Asia and around the world treat these micropayments as a core income stream, potentially earning as much as 50,000 yuan per month from tips alone.
On Western platforms, the micropayment economy is still young, and is often tied closely to live-streaming. Twitch viewers can purchase virtual gifts known as "Bits" for their favorite streamers, while select YouTube users can pay to highlight their messages during a given channel's livestreams (which includes the Premiere function that Ariana Grande used for "thank u, next") by purchasing "Super Chats."
WAV is also experimenting with in-app currencies named Beats and Diamonds that fans can either purchase immediately or earn over time through social participation, then gift to their favorite artists regardless of whether or not they are livestreaming (screencaps below). Importantly, several music magazines, including Mixmag and The FADER, also maintain their own video accounts on WAV, and can attract financial support through these same micropayment mechanisms—a model that could be potentially game-changing for the future of music journalism.
Screenshots of the mobile app for WAV Media, showcasing its native micropayment capabilities. Cherie Hu, courtesy of WAV
The world of in-app tipping for videos is still a can of worms when it comes to licensing, however, as some of the most popular apps that enable direct fan contributions—including Twitch and the myriad of music apps under Tencent—share little to none of that revenue with labels or publishers.
Perhaps this is why recorded-music rights holders are still investing more in more passive, backend micropayments through content ID and digital fingerprinting. Popularized by YouTube, content ID is becoming an increasingly widespread and lucrative reality across social media, in part thanks to landmark licensing deals that Facebook signed with all major labels and publishers over the last few years.
“A lot of artists don’t have any clue that they can be getting paid whenever fans use their songs on socials,” says London. “The communication around how to get that done also isn’t very clear. More people need to understand how Content ID works, because there are so many places where a video can be seen and your song can be heard.”
3. They will get shorter—and longer.
Video content of all lengths have thrived on the internet, but the types of videos that artists, labels and brands are willing to invest in seem to fall along two opposite ends of an increasingly polarized spectrum of length, price and attention spans.
Speaking at SXSW in 2018, GIPHY CEO Alex Chung predicted that the future of content would forge two opposite but complementary paths. On one end, “it's going to be expensive—if you’re Netflix, you can pay to be in primetime slots," said Chung. "But the rest of us need to start shrinking … We need to start going smaller, six seconds or less ... The average shot length in a movie is about four seconds. The average time a Facebook video is being watched is 10 seconds. If you want to follow where the money is, what’s actually being registered as a video view is just three seconds.”
When it comes to video, music marketing strategy does seems to be following this forked path. On one hand, many in the industry still argue with their dollars that short-form reigns supreme: Geffen Records deepened its Lens partnership with Snapchat, new hashtags and dance challenges continually pop up on TikTok, Dubsmash and Triller and Instagram Stories has become a must-have channel for music marketing and fan-engagement campaigns in recent years.
But many musicians are also unafraid to become more cinematic in their visual endeavors, not less—and, ironically, often use short-form media tools to help execute on their long-form goals.
For example, even if you listened to Tierra Whack’s debut project Whack World on Spotify thirty times in a row, you wouldn’t be able to understand the true aesthetic and context behind her lyrics or production, or how the songs might relate to each other, without watching her 15-minute YouTube video for the album. But users who don't want to sit through 15 minutes straight of content can also consume visuals piece-by-piece on the rapper's Instagram profile, where she posted 15 separate, 1-minute videos for each song on the album (screencap below).
Screenshot of Tierra Whack's Instagram profile, showing the 15 short videos the artist posted to... [+] promote her album "Whack World." Screenshot by Cherie Hu
At the major-label level, while overall budgets have declined since the '80s and '90s, the amount of creative effort and manual labor to construct high-quality videos has not. Andrew Listermann, CEO of Riveting Entertainment—a video production company that has worked with the likes of Tyga, Post Malone, G-Eazy and Lady Gaga—claims that it takes an average of 1,000 man hours to create each music video for a given client.
“The bulk of those hours is on the day of the shoot itself, for which we hire anywhere from 70 to 150 people on staff,” he told me. “Shoots typically last 14 to 18 hours, but there are certain instances, like with Lady Gaga’s 'G.U.Y.,' where the shoot lasted seven days. We also spend 20 to 40 hours with creative directors ahead of time to draft up video concepts to present to the artist, and obviously there’s all the editing, color-grading and other post-production work after the fact.”
From left: Riveting Entertainment CEO Andrew Listermann, rapper Post Malone and director Ryan... [+] Philippe on set Courtesy of Riveting Entertainment
Moreover, as label budgets for music videos decline, "a lot of artists not only are involved in the creative process of a video from start to finish, but are also contributing two to three times more money directly out of pocket to fund production than what the label is contributing,” says Listermann. “People don’t realize how much time, resources and mental focus it takes for these artists to really go big with their craft and give fans something to get excited about visually.”
4. They will be personalized, hyper-localized and context-aware.
The music video sector is increasingly set on drawing inspiration from Netflix when it comes to pushing the boundaries of personalization and localization.
Speaking at the Web Summit in November 2018, Netflix’s Chief Product Officer Greg Peters shared some interesting stats around the importance of content localization on the video platform.
For one, localized shows—those with “local realities plus universal themes,” in the words of Peters, and produced in a local native language aside from English—have high international viewership on Netflix. The Brazilian dystopian thriller 3% received over 50% of its viewing hours from subscribers outside Brazil, while the German-language series Dark received 90% of its viewing from outside of Germany and was a top-10 TV show in 136 countries a month outside of launch.
Secondly, dubbing—recording film/TV dialogue in a different language, superimposed over the original—is an underrated art form and science, and has a significant influence on viewing and completion rates on Netflix. According to Peters, 85% of U.S. subscribers watch international content in dubs, and are much more likely to finish in dubs. The video company currently dubs its content in 10 languages for adult content and in 26 languages for kids’ content, and is making it a priority to “improve the quality of the translations, to preserve the original intent of the creator through that localization process,” said Peters.
These efforts align with Netflix's wider mastery in personalization: the service has gone so far as to customize the cover art of all shows and movies on its homepage to each individual user. With its new interactive film Bandersnatch—released as part of the Black Mirror franchise—Netflix even hints at a potential future where users can choose their own soundtracks to their favorite flicks.
Some music streaming platforms like Spotify are already taking note of the importance of localization. For instance, Spotify has created bespoke pages for K-pop, Latin, Afro and Arab playlists to accompany the service’s expansion into more international markets across South America, Asia, Africa and the Middle East. The company also takes temporal context into account, automatically organizing user homepages by time of day (e.g. “Afternoon chill” playlists in the afternoon, “Coffeehouse” playlists in the morning).
But is it possible to translate this type of strategy from the wider platform level to the individual artist and label level?
In fact, certain genres like K-pop have already been experimenting with localization for years. The boy band EXO, which is currently a single group, used to be divided into the two subgroups of Exo-K and Exo-M, who would perform the exact same songs but in Korean and Mandarin, respectively. In 2016, one of K-pop’s biggest production companies SM Entertainment launched Neo Culture Technology (NCT), a experimental supergroup with several local “teams” around the world that can release different albums simultaneously in multiple languages. Inspired by these ideas, managers and labels in Western markets are also beginning to think about how to dub their artists’ music videos with international lyrics to cater to more diverse audiences.
But even if this localization doesn’t happen on the lyric level—the dubbing process is labor-intensive, particularly as the number of languages stacks up—another high growth area for music videos is visual localization, à la Netflix’s custom cover art.
For instance, throughout the second half of 2018, Universal Music Group released not one but six different vertical videos of Chantel Jeffries' single "Wait (featuring Offset & Vory)" on Spotify, each of which was tailored for a different playlist on the service (specifically skate, travel, Latino, pride, DJ and party playlists).
“Over the past few months, it’s become a mandate from our major-label clients to include vertical videos in our deliverables,” says Listermann. “90% of the time the client is looking to save costs by reusing footage, so we’ll just take our main, horizontal videos and reframe them such that they look good in a vertical frame. But sometimes if the label has a bigger budget, or a deal with Spotify where they know they’ll get great placement, they’ll invest in entirely new content and spend an extra $1,000 to $3,000 for us to come in with an entirely separate camera to shoot vertical video the day of.”
As Spotify tries to expand from being "just" a music company into providing other types of multimedia content for its users, including but not limited to videos, one can expect both major and indie music companies to jump on the bandwagon on visual as well as aural personalization. Such strategies dramatically expand the number of contexts in which a song can be heard (and seen) for the first time—creating more flexibility for listeners and fans, while staying to true to the creative vision, and growth ambitions, of the artist.
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f59438f5a255376d0178a6dd0f8d2447 | https://www.forbes.com/sites/cherisethreewitt/2020/08/17/anecdotal-information-moms-like-minivans/ | Anecdotal Information: Moms Like Minivans | Anecdotal Information: Moms Like Minivans
2020 Chrysler Pacifica Hybrid Cherise Threewitt
As a new mom, I’m starting to look at cars a little differently than I did before. I’ve always paid attention to convenience and safety features, for the purposes of providing thorough reviews as well as professional interest in the development of such technology. In my personal cars, though? Never really that big of a concern; in fact, in the past, I’ve owned cars that were blatantly inconvenient and that I was lucky I was never hit while driving. That’s simply the life of car ownership from an enthusiast perspective rather than that of a consumer, at least from what I’ve observed.
When I announced my pregnancy, a friend added me to a Facebook group for mothers in my area. I expected the petty bantering and bickering, the memes both funny and irritating, and the occasional useful question or discussion. I didn’t expect so many of those questions to revolve around cars. Granted, it’s the same couple of questions a lot of the time, most often, the best midsize crossover out of some seemingly random selection of the the usual candidates (Toyota Highlander, VW Atlas, Subaru Ascent, Kia Telluride, and Hyundai Palisade). And, increasingly (and surprisingly), these women ask an awful lot of questions about minivans.
I’ve written about minivans a lot, in terms of safety features, infotainment technology, reliability, and the like. I know that the Toyota Sienna was the only minivan with available all-wheel drive for quite some time, and that the Chrysler Pacifica will also offer it next year. I know that the Pacifica Hybrid is unique in the class for offering an efficient plug-in powertrain, and that this configuration is quite spendy, right up there with luxury crossovers. Yet perhaps because I don’t personally know anyone in my peer group who drives a minivan, and perhaps because crossovers are so popular, I’d just assumed that contemporary moms didn’t embrace the minivan. Clearly, I’m wrong.
In other words, a Facebook mom group actually provided me with an interesting and worthwhile insight that pertains to my job. Consider me humbled. I’ll definitely be learning and writing more about minivans and their features in the future, and I’m looking forward to it.
Is anything a mom likes automatically inherently uncool? Sure, there are few minivans on the market that can genuinely be considered attractive, but climb aboard and it’s a whole different story. Last month, I spent a week with the 2020 Chrysler Pacifica Hybrid, as seen in the photo at the top of the page, and came away enlightened. The interior is near-luxury quality and the features are fantastic. My husband liked it. My four-month-old son didn’t appear to have an opinion, but he quickly fell asleep and stayed that way for the duration of our road trip, and that’s good enough for me.
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Here’s the point: If you’re shopping for a midsize or large crossover to tote around your kids, I implore you to consider a minivan, too, with the same parameters: new or used, budget, key features, even brand, if that’s important to you. Even if you end up buying the crossover, at least you’ll know that it was truly the best option for you, by experience rather than assumption. At the very least, don’t rule out a minivan based on the outdated assumption that it’s uncool.
Stay tuned for my review of the 2020 Chrysler Pacifica Hybrid, which is coming later this week.
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2f2b64637287c628bbeb820b20b4ef0e | https://www.forbes.com/sites/cherryreynard/2020/02/10/the-amazing-shrinking-markets/ | The Amazing Shrinking Markets | The Amazing Shrinking Markets
Public markets are shrinking. The number of US listed companies stands at around half its level twenty five years ago. The rise and rise of private equity has played a role, plus US companies going to town on share buybacks. While it is more pronounced in the US, it is a global phenomenon. What are its long-term consequences?
This long-term trend of ‘de-equitisation’ has seen fewer companies becoming public and M&A activity and buybacks reducing the overall stock of equity. At the same time, there is plenty of capital flowing round private markets and companies have no longer had to subject themselves to the scrutiny of public markets to raise financing.
There are two main schools of thought on the phenomenon. One group fears the overvaluation in private markets. They point out that huge flows of capital have been directed towards private markets in search of higher returns. Prequin’s latest report shows the sector reaching $4 trillion in size. Private equity fundraising surpassed $500bn for the fourth consecutive year in 2019.
To this school, this is not an endorsement of private equity, but a clear sign of over-valuation. This has been self-reinforcing, as more capital has pushed up valuations, but at some point – they argue – the gravy train must end. There is too much money chasing too few deals and valuations looked stretched.
This view appears to be supported by the weak performance of a number high profile IPOs in 2019. Even where companies have a sound business model and strong growth, many have been unable to match their private valuation after listing: nine months on, Uber still trades below its listing price, Lyft at less than two-thirds of its launch price. WeWork shelved its IPO in the face of mounting criticism. Its IPO price was already around half of its private equity valuation.
Dr Paul Jourdan, chief executive officer at Amati Global Investors, believes listing provides a welcome ‘referee’: “In public markets, you can’t pull the wool over people’s eyes. If you don’t want the scrutiny, you don’t float. A reason to float is that customers will trust you.” He has seen the Aim market, a specialism for Amati, significantly improve in terms of the quality and maturity of the businesses. The weaker businesses are going elsewhere, often to crowd-funding.
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The concept of the 'referee' has been widely discussed by Michael Lewis, in his podcast. He cites research on NBA referees showing how unfair calls have increased in recent years. However, at the same time, hard evidence suggests referees have become better at making good calls. There is a broader mistrust of the referees, not just in sport, but in financial markets as well. He argues that this is a damaging trend.
The other school of thought is that the trend is a result of the weakness of public markets. There is the expense and administrative difficulty of getting a listing in the first place. While they can get funding in private markets, many CEOs believe that time and expense is better spent on the business. Just a few years ago, there simply wasn’t enough capital in private markets to support companies through to billion dollar valuations. Today, unicorns can happily sustain a valuation of $2-3bn and higher in private markets.
Another argument is that the company has less control of its valuation in public markets, which are subject to a messy array of factors – from risk sentiment, to geopolitics to short-sellers. Witness Elon Musk’s ongoing battle with short-sellers and his (unrealised) threats to take the company private. This problem has become particularly acute with the money that has headed for passive funds (which surpassed $10 trillion in 2019). The influence of passive hampers price discovery and favours the largest companies, many of whom have the least need for capital.
Public markets have become horribly short-term in nature, benchmarked to quarterly or half-yearly targets. This is inefficient, encouraging companies to neglect long-term planning in favour of short-term boosts to the share price. It binds the hands of management, who cannot realise real value for the company because they are always jostling to meet the next round of quarterly earnings.
Private market apologists say it is difficult incentivise senior management appropriately in public markets. They are subject to the vagaries of remuneration committees, scrutinised by their shareholders and boards. Even if lofty salaries pass that scrutiny, can senior management really influence the share price for these companies? It is far more likely that they will be scrambling to meet short-term targets. In private equity, the management team can drive performance.
Equally, the public markets don’t really like the ‘growth at any price’ mentality of some private-equity backed companies. They demand a path to profitability, control of costs. Companies that stay private can focus squarely on revenue growth. This may be good or bad, but there is no doubt that it suits some companies.
For investors' sake, it is to be hoped that this is not a permanent state and it is only a matter of time before the best models start becoming public. Private markets will eventually become more discriminating and investors will increasingly value the checks and balances they provide. There are signs that this is happening with the weak performance of recent IPOs. Private equity may become less tolerant of low profitability as a result.
This American LifeHoop Reams - This American Life
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1deb701d8a254ac380839f57d43cbdaf | https://www.forbes.com/sites/cherryreynard/2020/02/29/covid-19-have-markets-gone-too-far/ | Covid-19: Have Markets Gone Too Far? | Covid-19: Have Markets Gone Too Far?
A couple wears protective masks as a precaution against the spread of the new coronavirus at the ... [+] airport in Mexico City, Friday, Feb. 28, 2020. (AP Photo/Marco Ugarte) ASSOCIATED PRESS
The market response to Covid-19 has been swift and apocalyptic. All major indices have seen double digit falls in a matter of a few days. With over 3,000 deaths, the human cost of the virus is undoubtedly high, but are stock markets over-estimating the economic cost?
Markets have form in over-reacting to crises. The reaction to everything from SARS to tensions in the Gulf tends to be to sell-off first and ask questions later. There is no road-map for how the Covid-19 pandemic will develop, which gives rise to uncertainty. Markets aren’t keen on that.
But have they gone too far? Or could they still go lower? There is an argument that it is entirely rational for markets to sell off because the economic impact of efforts to curb the virus may be severe: people don’t want to travel, which hurts airlines and leisure industries; people may self-isolate which hurts productivity. In extremis, it may disrupt trading routes and supply chains.
T Rowe Price has made efforts to quantify this. It has looked at the effect of lost working days on overall production. It estimates that the current measures imposed by the Chinese government through early February have led to eight lost working days for the country as whole: “A reduction in one working day in Q1 leads to roughly a 0.4% loss in output, meaning the eight lost working days so far translate into a quarterly growth reduction of 3.2%. This number is 50% larger than the 2.1% growth impact measured during the SARS outbreak, and three times as large as the estimated 1% impact adjusted for external factors.” Extrapolate this to the rest of the world and it is plausible that the virus will tip the global economy into recession. The recovery was already fragile.
Jason Broomer, head of investment at Square Mile Investment Consulting and Research, says: "The economic implications of controlling the outbreak are severe. Supply chains will be disrupted as factories close, popular events are being cancelled and health services will come under increasing strain...The situation is very fluid and investors also need to be very alert to the possibility that markets will panic and overreact to the outbreak."
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"Key buying opportunity"
However, he argues that markets have now fallen to a level that provides a "a reasonable reflection of the economic costs of the outbreak." Some are arguing that the falls may already be overdone. Nigel Green, founder and CEO of deVere Group, says: “The worst global market sell-off since the 2008 crash will almost certainly become an important buying opportunity for many investors.
“With markets on the brink of correction territory, panic-selling, mis-pricing of high quality equities, and lower entry points, this could turn out to be one of the key buying opportunities in the last 10 years.”
Research by Schroders looks at the performance of stock markets at other times when the main gauge of volatility has hit high levels. it said: “The emotional response to such situations is to sell. Historically, however, this would have been the wrong thing to do.
“The current reading of over 40 puts the VIX in the top bracket of historical experience. However, rather than being an opportune time to sell, historically this has been when the best returns have been earned – for the brave hearted. On average, the S&P 500 has generated a return of over 25% in the 12 months after the VIX breached 32.9.”
Target 'at risk' sectors
If investors were to take advantage, where might the opportunities be? There are areas where the fall in the share price over-estimates the potential cost to the business. Daniel Morris, senior investment strategist at BNP Paribas, says he expects the transportation, tourism, leisure, and luxury good-related businesses to rebound most strongly. He points out that during the SARS outbreak many of these sectors saw earnings recovery within a few quarters.
Asia also looks to be a fruitful hunting ground, though this will depend on the reaction of governments to the crisis. They are likely to bring in easing measures, which will provide some support for companies and markets.
Investors need to ask themselves how they will feel when if all blows over? Will they look regretfully at having missed an opportunity to buy good companies at meaningful discounts? It may be time to start picking through the stock market rubble.
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a5916c1b5bdb237384c0b25c1c942756 | https://www.forbes.com/sites/cherylrobinson/2018/05/18/how-wife-of-former-nfl-star-successfully-manages-life-beyond-football/ | How Wife Of Former NFL Star Successfully Manages Life Beyond Football | How Wife Of Former NFL Star Successfully Manages Life Beyond Football
Markisha Hawkins, the wife of former Cleveland Browns wide receiver and current ESPN on-air talent, Andrew Hawkins, has not only cheered for him from the sidelines but has also played an intricate role in his transition from the playing field to corporate life. Being a wife of an NFL player comes with excitement, sacrifice, uncertainty and requires a strong sense of self. Hawkins embraced each pivot with open arms.
Former Cleveland Browns wide receiver Andrew Hawkins and wife Markisha Hawkins posing for a photo at... [+] the Uninterrupted Espys party in Los Angeles, Ca. Andrew Hawkins
In the summer of 2017, A. Hawkins announced his retirement. As he transitioned from NFL football player to businessman, M. Hawkins pivoted from NFL wife to businesswoman. “I’ve always wanted to create my own Children’s Imagination museum,” she stated. “So, without going into too many premature details, we’re creating an affordable environment where children can explore, express themselves, engage in dramatic play and have so much fun that they don’t even realize they are learning every step of the way.”
The path to the NFL isn’t always a straight line. A. Hawkins’ journey to the NFL involved living on a friend’s couch, working as a caddy and factory worker, an internship with the Detroit Lions, starring on SpikeTV’s reality competition 4th and Long and playing in the Canadian Football League.
M. Hawkins holds a degree in Early Childhood education. She had been teaching for three years prior to her husband signing with the NFL. “The year Andrew signed his contract, I was offered a significant promotion at the school I was teaching at. I had to turn it down because that would have meant a multi-year commitment, and essentially being away from Andrew the majority of the year.” At the time she was pregnant with their son, Austin. “I’ll never forget the amount of uncertainty and uneasiness we had going into that year, worrying about the ‘what-if,’” M. Hawkins expressed. “Our decision wasn’t made based on what was best for either of us. It was made based on what was best for our son, and we felt we wouldn’t be doing our jobs as parents if we weren’t both there for him every day.”
LOS ANGELES, CA - JULY 13: NFL player Andrew Hawkins (R), Markisha Thomas and guests attends... [+] Nickelodeon Kids' Choice Sports Awards 2017 at Pauley Pavilion on July 13, 2017 in Los Angeles, California. (Photo by Allen Berezovsky/Getty Images for Fashion Media)
M. Hawkins has been her husband’s rock from the beginning. It was important to them that once he made it, they would focus on maximizing his brand and making an impact on social justice issues, having a philanthropic angle and expanding their business ventures. “I get praise from time to time for some of the things I do or things I’ve accomplished,” A. Hawkins explains, “when in actuality most of the ideas or plans stem directly from my wife. We have a true partnership and we know that we’ve accomplished three times more together than either of us could have ever done apart.”
From the time A. Hawkins entered the NFL, they knew there was an end in sight. There had always been conversations around retirement, however, in 2014, retirement was closer than it had ever been before. They began developing a plan. “Andrew and I made a list of potential people and companies we could see him going to work for after retirement,” she advises. “We wrote it on a whiteboard. Also, we mapped out different scenarios and weighed the pros and cons of each. That included everything from re-location options to when and where it was best I would resume my career.”
Hawkins family portrait - from left to right: Autumn Hawkins, Markisha Hawkins, Aubree Hawkins,... [+] Andrew Hawkins, and Austin Hawkins Andrew Hawkins
M. Hawkins not only had to prepare herself for the transition, but she also had to prepare her children. “My children and I had to prepare for ‘daddy’ to not be a football player anymore,” she expresses.
All of our day-to-day processes changed. There would be no more offseason practices, no more around the clock training, no more late-night film sessions, no more away travel and no more games on Sundays. I was relieved that he could walk away from what he had been doing for so long without any regrets. Mentally, I knew it would be different, but I was never worried. As long as I’ve known Andrew, he's always had a plan. I knew this situation wasn’t any different. The Hawkins are busier now than ever. As M. Hawkins prepares to open her Children’s Museum, she continues to strategize and plan with her husband. He consults for two sports analytics companies, is in development for a television show and hosts the Uninterrupted podcast The ThomaHawk Show with Joe Thomas. In addition, he is authoring a book, is a studio host for ESPN's SportsCenter on Snapchat, and is the Director of Business Development for the digital media company Uninterrupted. “One of the major hurdles is how frequently he’s had to travel in his new roles,” she states. “We knew coming into retirement that things would be fluid and would change, but I don’t think either one of us anticipated him traveling 10 times as much as he did as a player. There was one week in the fall where he was in three countries and six different states!”
Markisha Hawkins enjoys a laugh with family on a flight to NYC Andrew Hawkins
The Hawkins embrace each pivot by:
Setting a goal. There is no direction without a destination. It’s important to set clear goals (long and short term) and to be honest about what you’re looking to get out them. Being specific about your goals helps shape the plan of action. Building a support system. Change is tough when you do it alone. Friends, family, and co-workers can be helpful when the uneasiness of pivoting settles in. Setting the action plan. With a goal in place, start putting together the blueprint. Putting a strategic plan together entails everything from networking with the right people to educating yourself on the next phase. Assess the current skills you can leverage, identify skills you need to acquire and have the self- awareness to determine if pivoting is the answer.
M. Hawkins keeps the goal in mind with everything she does. “With anything we’ve been successful at, there was always a period of difficulty. I keep it in perspective and count it as foreshadowing to us being a step closer to our goals.”
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5fa42b82c57b2fb62c5d9ff99bdc6f2b | https://www.forbes.com/sites/cherylrobinson/2018/07/10/musician-mandy-harvey-shares-how-to-gain-new-perspectives-after-life-changing-loss/ | Musician Mandy Harvey Shares How To Gain New Perspectives After Life Changing Loss | Musician Mandy Harvey Shares How To Gain New Perspectives After Life Changing Loss
Mandy Harvey, a professional musician, has turned a major life pivot into her biggest strength. By the age of 18, Harvey had completely lost her hearing. Not only could she no longer hear the world around her, but she could no longer hear herself. She relied on her experience as a singer with near perfect pitch to help catapult her to success and the ability to inspire others to embrace their pivot.
MEGYN KELLY TODAY -- Pictured: Mandy Harvey on Friday, October 6, 2017 -- (Photo by: Nathan... [+] Congleton/NBC/NBCU Photo Bank via Getty Images)
“If I take back any of the bumps, bruises or scrapes I’ve been through,” Harvey expresses, “I wouldn’t be the same person. I would tell my younger self, ‘this is going to be hard but you’re going to get through it and you’re going to be better for it. Just keep going.’”
Harvey began singing in her local choir at the age of four. It was a way for her to express herself. She had always been hard of hearing so the choir served as an outlet for her to understand all the words that were being spoken. “I had to get close to the piano to hear the pitch,” she explains. “Once people started singing I could no longer hear myself. You get used to trusting yourself a lot more.”
Until she attended college, her entire life was built on the idea that she was going to be a music teacher. However, in order to attend school for vocal music education, Harvey had to be able to hear. “It felt on several levels that I had died,” she expressed. “I made the mistake of pouring my entire identity into one single dream and convincing myself that I was not capable of anything else or creating any other dream. That was my biggest mistake in the whole experience.”
PASADENA, CA - FEBRUARY 01: 'America's Got Talent' finalist Mandy Harvey visits The HEAR Center In... [+] Pasadena at HEAR Center on February 1, 2018 in Pasadena, California. (Photo by Paul Archuleta/Getty Images)
Harvey kept a journal during the time she was losing her hearing. She’d describe what a certain sound sounded like. “After a certain point,” Harvey stated, “I realized there's no value in focusing on everything that I can't do. That mindset didn't start changing until I moved back home and started taking ASL [American Sign Language] classes and got involved with the deaf community. I found clear communication. It was the first time I was in a room full of people who were all communicating, and I understood what was happening around me. That gave me a lot of confidence to start reevaluating my life. I started to think there were different ways to enjoy it. I found my way back into music and realized that it's not that the music went away after losing my hearing, I just get the privilege of enjoying it and experiencing it differently.”
Harvey’s dad encouraged her to start singing again. “We sat down and I started watching him play the instrument. I started playing along with him. I began feeling the instrument.” Her father asked her to learn a song to sing. It entailed her sitting at a piano with a visual tuner going through the song in sheet music form, going over the song note by note. It took upwards of 10 hours to get through the song once without any mistakes. “By the end of the song,” she smiles, “he said ‘I had done it.’ I started testing those waters…and singing again without being able to hear myself, without being able to judge myself. It was such a freeing experience because it’s always been the thing that held me back so much. Now not being able to hear myself, not being able to judge myself, I found my voice in it.”
Fast forward ten years to the moment Harvey had an opportunity to audition on America’s Got Talent (AGT). “I went onto the stage with no expectations,” she humbly states. “I didn’t think I was going to get the golden buzzer. I just wanted to show up and prove to myself that I could stand on that stage. I wanted to encourage people around me to evaluate their lives and see where they are holding themselves back. I wanted them to dream again. For the golden buzzer to come from Simon [Cowell] meant a lot. He didn’t talk about my story. He didn’t talk about my situation. Yes, it’s a part of me and who I am, but it’s not the entirety of who I am. At the core, I’m a musician. I want people to value that part of me. He [Cowell] was judging my tone, my songwriting and pitch.”
WASHINGTON, DC - APRIL 18: Stage actor George Salazar, singer Mandy Harvey, and Olympic figure... [+] skater Adam Rippon make the deaf sign for 'love' on the red carpet at the 2018 Best-of-the-Best Awards Gala at the Washington Hilton on April 18, 2018 in Washington, DC. (Photo by Shannon Finney/Getty Images)
Harvey had been touring before her appearance on AGT where she finished in the top five. AGT elevated her full-time musical career. She is now working on her fourth album which is all original content. Her next tour begins the end of July 2018.
When facing a transition, Harvey advises:
Allow yourself to mourn. Allow yourself to be upset about the change. It’s ok to be upset that your life has changed. Just don’t get stuck there. Evaluate what you’re really upset about. You have two choices to make: you can sit there and be upset and let life pass you by or you can get back up off the ground and use this moment to push yourself forward. Then cheer yourself on. Be proud of what you have accomplished and what you will continue to accomplish.
“I have failed more times than I can count and I’m still young,” Harvey proclaims. “I’m going to fail a heck of a lot more. Every time I fail I learn something new about myself.”
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e65731b0fd4cb034e2f5cf5857c17e63 | https://www.forbes.com/sites/cherylrobinson/2019/01/21/kandi-burruss-kandikoated/?sh=47006a141770 | Why Kandi Burruss Is A True Lady Boss When It Comes To Entrepreneurship | Why Kandi Burruss Is A True Lady Boss When It Comes To Entrepreneurship
Kandi Burruss, Grammy-award winning singer and songwriter, T.V. personality and entrepreneur, has influenced people throughout multiple facets of life. Her tenacity, positive spirit and desire to succeed have made her a leading role model as a businesswoman.
Kandi Burruss, entrepreneur, on the Bedroom Kandi Convention 2018 MorrisDe Photography
Burruss’ business ventures include Bedroom Kandi, Kandi Koated Beauty, Old Lady Gang (a southern eatery established with her mother and aunts), Raising Ace and TAGS Boutique (luxury women’s apparel). In addition to operating multiple companies, the serial entrepreneur has an extensive music portfolio, which includes a Grammy win for the song No Scrubs performed by TLC and two ASCAP (American Society of Composers, Authors and Publishers) awards, first woman to win Rythm & Soul Music Award for Songwriter of the Year, and the Golden Note Award with her group Xscape. Over the years she has also has written hit songs for Pink, Whitney Houston, Destiny’s Child, ‘N Sync, Mariah Carey, Usher, Alicia Keys, Boys II Men and TLC.
With upwards of seven-plus ventures, Burruss understands what it means to embrace the pivot. From her days in the music industry to the Real Housewives of Atlanta to introducing her latest brand, Kandi Koated cosmetics, Burruss has learned how to capitalize on her brand’s influence. She also understands the importance of paying it forward. She has designed her one company, Bedroom Kandi, to offer individuals looking for consulting positions to join her team to sell the brand. Her company has 2,500 consultants across the country.
Kandi Burruss, Grammy award-winner, on the Xscape Tour Texas (summer 2018) Kandi Burruss
Burruss’ eclectic journey began at the age of 14 when she joined an R&B vocal quartet, Xscape, discovered by Jermaine Dupri. All three of their albums were certified platinum. “We started our group when I was in the ninth grade,” Burruss begins to share her story. “We got our record deal when I was in the 11th-grade. Our first single dropped the summer before my 12th-grade year and we immediately had a hit…One of the group members wanted to go solo. I felt like it was the end of the world…At that point, I had to figure out what I was going to do. I bought my first house at 19-years old. That's when I found out that one of the group members was going to have a solo career. I had to figure out how I was going to continue to take care of myself because I didn't have anybody who could afford my bills at that point.”
“I like to consider myself a problem solver,” she continues. “I don't like to spend a lot of time talking about the problem, stressing out or being dramatic about it. I like to try and figure out how I can fix it.” When the group finally dissolved Burruss was contemplating whether or not she should go solo as well. Eventually, she and her one group member, Tameka “Tiny” Cottle, decided to start their own project: demo songs to record labels. Their first manager introduced them to Kevin "She'kspere" Briggs, a record producer. “He was the one that Tiny and I ended up doing No Scrubs with,” Burruss smiles. “When we met She’kspere he played us this track. We asked him if we could take the track and re-write the song for it. We recorded the song and someone played it for L.A. Reid. We were told that he wanted this song for TLC. I met him at a party and he told me that he was going to make this the biggest hit of my career. I took for granted what he was saying. He was right, though. It ended up being the biggest song of my career. It was a blessing. It just kind of fell into my lap.”
Kandi Burruss, Grammy Award-winner, on Street 94.5 (Atlanta radio) interview Kandi Burruss
After experiencing major success in the music industry Burruss decided to transition over to the television side of the entertainment industry. Her exposure on the Real Housewives of Atlanta allowed her to capitalize on her stardom and start her first company. Once Bedroom Kandi became a success, she opened her second, third and fourth company. “Sometimes people start making a change with without making sure the first the first source of income sticks,” she states. “Before moving onto the next thing, make sure you continue to nurture the first thing. Get a good team around you because it's difficult to do multiple things on your own.”
Through all of her transitions, Burruss relies on the following ideas to help make her pivots successful:
Everything is about quality. At the end of the day, you're competing with people who have been doing this forever. You can't slack off. Make your brand desirable. Marketing is the main thing for every business. The only way people are going to know what you’re doing or what you’ve been up to is if you tell them. Finish what you start. Be a person of your word. If you say you're going to do something be consistent with it.
“Everything is a gamble,” Burruss shares. “Not everything can work out to the way you want it to. Sometimes you have to go back to the drawing board and figure out another way to make things work out. You learn from your mistakes and figure out how to fix what's wrong. Sometimes people tell themselves they can't do something before fully thinking their ideas through.”
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ad1ce24f43125447e2c6a504fe00c94f | https://www.forbes.com/sites/cherylrobinson/2019/03/01/mlb-diversity-and-inclusion-renee-tirado/ | How MLB's Chief Diversity And Inclusion Officer Champions Women In Baseball | How MLB's Chief Diversity And Inclusion Officer Champions Women In Baseball
Renee Tirado, Chief Diversity & Inclusion Officer for Major League Baseball (MLB), is taking on the challenge of not only making the league’s front office more diverse but also the playing field as well. Through the league’s Diversity Pipeline program, Take The Field, they are beginning the process of vetting and hiring diverse candidates for the baseball operations side including umpires, scouts and coaches.
Renee Tirado, Chief Diversity & Inclusion Officer at the MLB, at the Charity Auction press... [+] conference at the 2017 Winter Meetings on Monday December 11, 2017 in Orlando, Florida. Alex Trautwig/MLB Photos via Getty Images
Take The Field launched during the 2018 Winter Baseball Meetings, an annual event in which representatives of all 30 Major League Baseball teams and their 160 minor league baseball affiliates convene for four days to discuss league business. The program accepted 50 pre-selected women who are pursuing roles that traditionally are held by men. “The operations side is what you see on the field,” Tirado explains. “There was no real launch pad for the females to get the exposure. This came from me attending a program the NFL does to help females who want to become coaches. We tweaked it for baseball. We advertised to USA Softball, USA Baseball, all the women’s organizations, social media. The response was tremendous. We had breakout sessions for the women depending on what track they wanted to get into such as umpiring, etc. They got to network and a couple of women got jobs out of this.”
Women participating in baseball isn’t new. USA Baseball cites back to 1867 that the African American Dolly Vardens of Philadelphia became the first paid baseball team, two years before the first men's professional baseball club. Then in 1904, it was reported that Amanda Clement was the first woman to umpire a baseball game where she was paid between $15 to $25 dollars per game. The most recognized era for women in baseball occurred over 75-years ago during World War II. With the men fighting overseas, there was a shortage of manpower on the field. Back then, Chicago Cubs owner Philip Wrigley created the All-American Girls Professional Baseball League (AAGPBL). Over 600 women participated in the league from 1943-1954. These women were immortalized in the 1992 movie A League Of Their Own. Eventually, in 1988 they were inducted into the Baseball Hall Of Fame. Once the war ended and the men returned from the battlefield, the AAGPBL became less prominent in the world of baseball.
Now, under Tirado’s leadership, the league is beginning to once again be more inclusive in all areas of baseball and business operations. In addition to the Take The Field program, she initiated the Katie Feeney Leadership Symposium, a staple event within the league. "It's a professional development symposium," she explains, "where we partner with Stanford University for Women In Baseball. Fifty women from across the league are nominated by their organizations."
Renee Tirado, Chief Diversity & Inclusion Officer at the MLB, presenting at Jackie Robinson 100th... [+] birthday celebration on Thursday January 31, 2019. Alex Trautwig/MLB Photos via Getty Images
“If we get 10-to-15 percent of the people from the programs who are still in baseball in 5-10 years at a high-performance rate,” she states, “that’s where the truth lies. You can set up these programs, but if there’s no real intention and ongoing support to develop those people in those spaces and make sure they stay on those people’s radar, and if those people don’t continue to ascend in the organization, then what’s the point? It takes time. These are not things that happen overnight. It’s a team effort.”
Tirado’s journey began in the courtroom. “My foundation is as an attorney so I practiced law for many years,” she states. “I didn’t have the passion for it. I went into the public sector and worked for the city where I ended up working for the NBA Retired Players Association.”
She then pivoted from the association to the United States Tennis Association. “I started on this diversity and inclusion journey not knowing where it was going to take me, what it meant, and to be quite candid, I sold it like I knew,” she smiles. “This was the first big pivot for me. It was at the USTA where I actually had a mentor; I had champions for me developmentally.”
COMPTON, CA - MAY 26: Katelyn, Meagan, Lauren, Renée Tirado and Erica Sanchez pose for a picture... [+] after the Career Chat at the Softball Breakthrough Series at the MLB Youth Academy on May, 25, 2018 in Compton, California. Rob Leiter/MLB Photos via Getty Images
Then the gentleman who hired her left the USTA and went to AIG. “About a year later,” she continues, “he reached out to me to work with him again in diversity [and inclusion] for all of south-central America and eventually into all of the Americas. It changed my whole perspective on diversity and inclusion when you start to talk about it globally. It was an invaluable tool for me going forward. Forcing me to leave New York was the best thing that could've have happened because it forced me to leave my comfort zone.” This pivot proved to be the hardest for Tirado. Not only was it the first time professionally she moved out of the New York area, but her mother passed away shortly after the move.
“My mother was always a risk taker,” Tirado stated. “She told me that if I didn't try the AIG position, I’d regret it. I do believe that that experience prepared me for my transition into MLB.”
As Tirado evolves with the ever-changing landscape of diversity and inclusion she focuses on these steps to help her with her transitions:
Be sure you’re ready for the pivot. Don’t start the process if you’re not prepared to take the jump. Solidify your squad. No frenemies. Surround yourself with people who will be championing in your corner. Conduct research to understand what you’re getting into; to see if it’s really something you want to do.
“There’s a Spanish phrase pa’lante,” Tirado concludes, “it basically means forward. When I’m at a crossroad or experience a struggle I hear my mother saying pa’lante; just keep moving forward.”
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43db885a438fb13580b756b0ee771785 | https://www.forbes.com/sites/cherylrobinson/2019/08/25/courtney-hansen-the-ride-that-got-away/ | How This Car Show Host Went Full Throttle Into Executive Producing | How This Car Show Host Went Full Throttle Into Executive Producing
Courtney Hansen, a host and executive producer of History Channel’s The Ride That Got Away, is paving the way for other females who want to host and executive produce their own shows. Having raised roughly $3 million through investors and sponsors to produce the show, Hansen, along with cohost Troy Ladd, renowned car designer, are not only restoring old vehicles but creating new memories for drivers.
Courtney Hansen, co-host and executive producer of The Ride That Got Away. Jerry Smith
For every car lover, there's the one that got away. The one they grew up riding around in with their parents, the first car they ever bought or the dream ride they had to sell when they fell on hard times. Hansen and Ladd are on a mission to find these missing pieces of personal and family history-often veritable pieces of American history too-and get them back to their rightful owners who said goodbye to them long ago. “I decided to create my own show,” Hansen states. “I created the The Ride That Got Away, which was a longtime dream of mine, and partnered with an awesome designer and an amazing team of people on both sides of the camera…It's connecting that deserving person with their dream ride that they thought they were never going to see again.”
Hansen was able to parlay her love for the automotive industry into a career as a television host when she had the opportunity to audition for the role on TLC’s Overhaulin’ which also aired on Discovery. “Overhaulin’ was really monumental for me,” she smiles, “because that was my first big gig…It was the first car show really of its kind; it was the first time a woman was on a car show. That was really important for me in my career.”
After Overhaulin’ she then went on to host shows on SpikeTV and NBC Sports. She became intrigued by the process and production that went on behind the camera. That’s when she decided it was time for her to step into a producing role. “It is not easy,” Hansen explains. “I remember what the producer of Overhaulin’ said to me. ‘If you become a producer, it's the hardest you'll ever work. There aren't even words for how hard you will work.’”
Courtney Hansen, co-host and executive producer, filming on set, fixing up a car on her show ‘The ... [+] Ride That Got Away’”. Courtney Hansen
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When Hansen’s vision of The Ride That Got Away became reality, she had to raise money for the production, which was not an easy feat. Halfway through production, a significant donation fell through. “Everything that possibly could have gone wrong went wrong with this project,” she shares. “Nothing with the network but outside of that everything was like people not making their commitments and people not keeping their word. There were a lot of really interesting and unforeseen challenges along the way. I just had to keep plugging away…It was like, ‘nope, we got to get this done. We got to raise this money.’”
“It was harder to raise the money the second time around because it was a little bit like, ‘oh, is this really happening?’” she continues. “I raised a good chunk [of money], which I think is pretty substantial with no pilot and no sizzle reel even at that time. I made up the difference from investors.”
Through the show’s trials and tribulations, Hansen still was able to make deadlines with the launch of the show airing this past January with season two in production now. In addition, she’s working on publishing her second book.
Courtney Hansen, co-host and executive producer, filming on set, fixing up a car on her show ‘The ... [+] Ride That Got Away’”. Courtney Hansen
Hansen has focused on the following steps to guide her through all of her career pivots:
Make your vision clear. If you don’t know exactly what you want, how can others help you achieve your goal? Remain focused on what you want to achieve. Set small, achievable goals that are manageable. A lot of small goals lead to accomplishing the bigger goals. Practice being in the role you want; act as if you already have it. Speak the position’s lingo and network with those who are already doing what you want.
“I love everything about an automobile,” Hansen concludes. “I think that they kind of are reflective of a woman. They're curvy and sexy. When they're [cars] beautifully designed, I feel like it's the ultimate work of art. I'm drawn to the way that they look and how it feels to be behind the wheel and step on the gas. Every aspect of it is so visceral for me.”
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b32fad79e741af5b2fdc98128119e129 | https://www.forbes.com/sites/cherylrobinson/2020/12/17/how-vistajets-leona-qi-represents-the-future-of-female-leadership-in-aviation/?sh=479d62481a9a | How VistaJet’s Leona Qi Represents The Future Of Female Leadership In The Airline Industry | How VistaJet’s Leona Qi Represents The Future Of Female Leadership In The Airline Industry
Leona Qi, president of VistaJet U.S., initially started overseeing the Asia-Pacific market where she ... [+] tripled the consumer base VistaJet
Although the airline industry has made continuous efforts to employ more females in executive positions, FlightGlobal reports that it will still take the sector until the mid-2050s to reach gender equality. Its latest report states that there were 85 female incumbents in 2020 compared to 76 last year, meaning an increase of 12% versus a rise of 5.5% (four women) in 2019 and 11% (seven women) in 2018.
With only 3% of the world's top 100 airlines being led by females, the IATA (International Air Transport Association) initiated the voluntary 25by2025 campaign for member airlines to increase female representation by 25% or up to a minimum of 25% by 2025. Companies like VistaJet, a global business aviation company making private flying affordable and accessible, understand the value of appointing a woman as president.
Leona Qi, president of VistaJet U.S., is not only setting an example for the younger generations of female leaders but is making it possible for other women to be appointed into executive roles in the industry.
"When you fly someone," Qi states, "I always say that the job is exciting because every single flight is different, especially for the flights involving in the personal side, flying families. During COVID, we're flying families to their loved ones or to their safe places; you're very much involved in your customer's life. I'm raising that because I found that there's a similarity between that and managing my team because a lot of times, through the years, I became friends with my customers...When you come to negotiate the deal, there is a fine balance between I am friends, but at the same time, I'm negotiating a deal with you. They would negotiate and deal with me and then you need to be very professional to make sure that our business is profitable."
By trade, Qi trained as a financial engineer. After graduation, she worked on Wall Street in sales and trading. The products that she sold all had an underlying asset, including real estate, cars and aircrafts. She was stationed on the trading floor, covering hedge funds, mutual funds and some private equity firms. After 9/11, some of the major funds began to experience a cash shortage during the financial crisis.
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Two colleagues approached Qi, stating they were starting a firm that only financed private aircrafts and wanted to know if she would join them. With Wall Street primarily financing commercial airlines, there was an opportunity in the market for this type of firm.
"I knew them personally and professionally," Qi explains. "I also wanted to start my own company. I thought it was time. I always wanted to do something very entrepreneurial. So I said, 'I will help you raise the money.' That took us about two years. I was working my full-time job at the same time we were raising money."
Leona Qi, president of VistaJet U.S. VistaJet
A former Wall Street colleague who transitioned to CFO at VistaJet introduced Qi to the company in 2014. She liked the culture and how the founder listened to his employees. At the time, he was in the process of searching for someone to run the Asia-Pacific business for him. In 2016, Qi officially joined VistaJet and began commuting from New York City to Hong Kong.
"That was one of the best decisions I ever made for my career," she smiles. "I have a lot of autonomy to run my ideas."
As head of the Asia-Pacific market, Qi expanded her team from seven to 26 and tripled the customer base. In 2018, she pivoted to the president of the U.S. market. As the company continuously innovates new ways to engage with new customer bases, during Covid-19 it offered complimentary flights to the government to transport PPE and critical medical supplies throughout the country.
Additionally, VistaJet is committed to reducing its carbon footprint in a fast and efficient manner. Since introducing its Carbon Offset program to customers in January 2020, 80% of VistaJet members have opted-in to compensate for their fuel use-related emissions. The company has offset almost 100,000 tons of CO2 (tCO2) on behalf of its customers, equating to over 21,600 passenger vehicles driven for one year or over 12.7 billion smartphones charged.
As Qi pivoted in her career, she focused on the following essential steps:
Prepare for your next step. Success doesn't happen overnight. You have to be prepared for your next opportunity, which entails research and networking. Find your passion. As you transition to your next position, if it doesn't excite you, it's time for you to look elsewhere. Having a passion keeps you focused and determined to succeed. Focus on your strengths. Don't let imposter syndrome paralyze your progress. Let your skillset speak for itself and steer the narrative in your favor.
"Luck doesn't just happen," Qi concludes. "It happens to people that are prepared. We, as individuals, we always need to constantly learn and do the hard work and be prepared, so that when the opportunity presents itself, you can successfully do it."
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a319c87e32591485e78b33f55dcef098 | https://www.forbes.com/sites/cherylrobinson/2021/04/06/how-this-millennial-democracy-director-influences-the-political-landscape-especially-for-black-women/?sh=1035826a7e82 | How This Millennial Democracy Director Influences The Political Landscape, Especially For Black Women | How This Millennial Democracy Director Influences The Political Landscape, Especially For Black Women
Lauren Bealore, Democracy Director at State Innovation Exchange, champions reforms for an equitable, ... [+] inclusive, and participatory democracy, including identifying policy areas of interest to help legislators become experts on state democracy policies. KAT STEVENSON
With every new congressional election, the political landscape becomes less of a boy’s club and more of an equal opportunity institution. Women, especially Black women, have made significant strides than ever before in leveling the playing field. Rutgers Center For American Women And Politics reported that of the 141 women serving in the 117th U.S. Congress, 49, or 34.8%, are women of color, three in the Senate and 46 in the House. Additionally, of the 94 women serving in statewide elective executive offices, 18, or 19.1%, are women of color.
Lauren Bealore, democracy director for State Innovation Exchange and cofounder of Y.A.B. (Young, Ambitious and Beautiful), helps state legislators nationwide champion reforms for an equitable, inclusive and participatory democracy. She also assists in identifying policy areas of interest to help legislators become experts on state democracy policies.
“Millenials are now aging into roles of leadership in politics,” she states. “Within the past couple of years, we have been allotted the opportunity to be the change agents in many more spaces in politics. With more of a vocal push around race, equity and inclusion, we have recognized how intersectionality plays a role in politics. In past eras of politics, there was a much more monolithic grouping, both internally in staff roles and externally with voters. Not having diverse voices just as an assimilated seat at the table but creating the table limited the scope of the type of policy we saw pushed and legislation we saw passed. It is important to acknowledge notable leaders like Fannie Lou Hamer, Shirley Chisholm, and C. Delores Tucker, who paved the way. But millennials, especially millennial women, have operated with the mindset of the glass ceiling not only being shattered but going after ownership of the building that holds that glass as well.”
Bealore’s foray into politics began after she graduated college. She started canvassing the neighborhood going door-to-door, discussing clean energy policy issues. After that experience, she landed a fellowship with the Michigan Suburbs Alliance, where she worked with the local government to get more Millennials on boards and commissions. She became the first African American in this role. During the fellowship, she met a city council candidate who also was the daughter of a current state representative at the time. Bealore accepted a position as the assistant finance director of a Congressional campaign while also working as a branding and social media consultant on a State Senate Campaign.
“I was determined to continue the mindset of branding my career my way,” she states boldly. “I was determined to prove that you don’t need to take tiny, baby steps to have a thriving career in this field. Part of my pivot story is creating building blocks of experience on every level of government.”
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Lauren Bealore (bottom row) with fellow Crain's Twenty in their 20's 2017 honorees for awards ... [+] ceremony and panel on bridging the gap in the workplace. Aaron Eckels
Unfortunately, the congressional candidate and senate candidate she worked for lost during the primaries. However, that led her to secure a role as the finance director of a state representative race. After holding a few more positions within the political realm, she became the youngest city commissioner. Additionally, she served as a precinct delegate and became the first African American to hold the political director position for America Votes in Michigan.
Bealore cofounded Y.A.B., a venture conglomerate that houses startups owned by women of color to challenge the statistics of this demographic of women in business, with cofounders Brittany Colston and Courtney Griffin. The nonprofit challenges the socially constructed hierarchy of women of color in business by creating a Chamber of Commerce for businesses owned by Black women. It focuses on business, entrepreneurship, community engagement, mentorship and personal development. Bealore, specifically, acts as a pipeline of resources to women of color nationally by partnering with co-working spaces, funders and investment programming and national millennial women networks.
New organizations are being formed daily to change the narrative for the younger generations entering their political career. Many of these organizations are founded and operated by Millenials and Generation Z. Companies such as Vote Run Lead trains women to run for office and win. Also, there are organizing and membership opportunities on the local and state level through Alliance for Youth Action, Community Change Action and Planned Parenthood.
As Bealore continues to transition and evolve in politics, she focuses on the following essential steps:
Understand the overall landscape of the industry. Then identify roles or positions that best suit your skillset. Doing this will help you brand your career in a way that best markets the value you bring to the table. Gain ownership of your title. Titles do matter. Use them as a stepping stone to get to where you want to go. Be strategic in the roles you accept or create for yourself. Develop the mindset of a forever learner. You can never go wrong when investing in yourself and personal development. Not only will you expand on a skillset, but you open yourself up to network with like-minded individuals.
“Equity happens when there’s more diverse representation, and millennials are not afraid to ask questions of status quo standards in politics, regardless of partisanship,” Bealore concludes. “I have always stood firm in bridging gaps to truly have connectivity and community. That requires me to be very vocal in many rooms where I may be the only representation by race or gender. As a millennial Black woman in politics, I have found it important to engage on different government levels and push voter education to my peers.”
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7e6c5b6215bbc545cdcbba6549f19010 | https://www.forbes.com/sites/cherylrobinson/2021/04/13/how-wendy-day-broke-barriers-and-launched-careers-of-world-renowned-rappers-hip-hop-artists/ | How Wendy Day Broke Barriers And Launched Careers Of World Renowned Rappers, Hip-Hop Artists | How Wendy Day Broke Barriers And Launched Careers Of World Renowned Rappers, Hip-Hop Artists
Wendy Day, founder of Rap Coalition, with rapper Lil Donald at a Pandora event. Courtesy of Wendy Day/Shawna Reed
Before rap became commercially visible with The Sugarhill Gang’s 1979 release of Rapper’s Delight, it was best known that emcees would speak or rhyme over beats during neighborhood barbeques. The genre quickly gained traction after Kurtis Blow’s 1980 The Breaks became a Top 5 hit that eventually went gold. For over 40 years, rap and hip-hop have influenced society by even normalizing words like twerk and crunk. Statista reported that in 2018, hip-hop and rap music accounted for 21.7% of total music consumption in the United States, more than double the percentage of R&B music sales.
Wendy Day, founder of Rap Coalition, has helped shape the industry to what it is today by launching the careers of some of the most famous rappers in the world, including Master P and Eminem.
Rap Coalition is a not-for-profit artists advocacy organization to educate, inform and unify rap artists, producers and DJs. “In March 1992,” Day said, “I started Rap Coalition. For the first couple of years, I was introducing rappers to lawyers that could pull them out of bad deals. I shortly realized that just pulling somebody out of that deal wasn’t enough; I needed to be able to help them get into a good deal.”
Day’s interest in rap and hip-hop occurred while attending a college event with an opening performance by Grandmaster Flash and the Furious Five. A few years later, her love of the genre would turn into a business opportunity.
After graduating college, she began working in Montreal as the vice president of marketing at a liquor company. When the company sold to a larger organization, Day received a buyout package that enabled financial freedom. She decided to return to the U.S and eventually enrolled in a pop-music course at the New School taught by a gentleman who was an accountant to celebrities. The biggest takeaway: Artists were being exploited or shelved by the record labels with no one helping them.
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“That bothered me,” Day shared. “I decided to start Rap Coalition sitting in that classroom because I wanted to help artists when they had no place else to turn.”
Wendy Day, founder of Rap Coalition and PowerMoves, in the recording studio listening to a new song. Shawna Reed
She began attending industry events and clubs, meeting executives and artists. The more she explained what she was doing, the more people started introducing her to other artists. Before long, she was known throughout the industry. After operating Rap Coalition for a few years, she launched PowerMoves, a consulting company within the industry. The for-profit company was maintaining the not-for-profit organization. Her first major deal catapulted her popularity.
“I knew with the first deal, not that I knew that Master P would go on to be as big as he was, I knew that he’d be big because I could see the fan reaction,” she humbly shares. “Remember, I was a fan. I knew who had good music and who didn’t. I knew who was hot on the streets and who wasn’t. So I came to it from a very unique vantage point where I knew who to work with to experience success because I was part of the community.”
Although Day’s portfolio includes some of the world’s top artists, helping launch Eminem’s career is one of her proudest moments. She met him while at an industry event. He was rapping outside of the hotel. Instantaneously she recognized his talent. As she encountered pushback from labels because he was a white rapper, she created the Rap Olympics to showcase his talents.
“I was doing it, first of all, to bring attention to him [Eminem],” Day explains. “So he was on my team. But it was also because at that point in time, gangsta rap was growing. It felt like between Death Row and even Bad Boy Records, which Bad Boy was not really gangsta rap, but the artists that were successful at Bad Boy were rapping about flying around in helicopters and popping bottles of champagne. ... I could tell that the music was changing. It was going more to storylines than lyrics. People were focusing more on the visual side than the lyrical side. The second reason that I did Rap Olympics is I wanted to bring attention back to lyricism.”
ORLANDO, FL - AUGUST 05: (L-R) Don Diva Magazine CEO Tiffany Chiles, WQHT on-air personality Minya ... [+] Miss Info Oh, BET.com Executive Editor Kim Osorio, Rap Coalition CEO Wendy Day, E. Mason & Associates CEO Elora Mason, WEDR on-air personality Supa Cindy, and WPYO Program Director Jill Strada attend TJ's DJ's Tastemakers Annual Music Conference - Day 2 at the Ivanhoe Plaza Hotel August 05, 2006 in Orlando, Florida. (Photo by Ray Tamarra/Getty Images) Getty Images
Currently, Day is in the process of structuring an incubator for rappers and pop artists, Artist Centric, that will accelerate the business side of their music careers. Additionally, outside of the music realm, she is in the process of a new business venture that includes the development of two 40,000 square foot coworking spaces.
As Day continues to pivot, she focuses on the following essential steps:
Conduct as much research as possible. Make sure the pivot is realistic, necessary and makes sense financially. Develop self-confidence. Go after what you want; don’t sit on the sidelines wondering what-if. Measure the right data as you’re transitioning or pivoting. If something isn’t working, try something else or pivot your approach. Having metrics will help you decide which direction to go.
“When you run any company or organization, you have to fill a need,” Day concludes. “As those needs change, the organization or the company needs to change in order to fill the new need. I’ve always been good at that. I guess that’s kind of like my, if there is such a thing as a superpower, that’s my superpower. I’m able to see what artists need, and then I have the ability to go find it and bring it to them.”
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a3eeec84a3d4ff2e2eeb4c97b2aed4a6 | https://www.forbes.com/sites/cherylrobinson/2021/04/22/clear-cut-founder-shares-how-her-diamond-business-reached-1-million-in-sales-per-month/ | Clear Cut Founder Shares How Her Diamond Business Reached $1 Million In Sales Per Month | Clear Cut Founder Shares How Her Diamond Business Reached $1 Million In Sales Per Month
Olivia Landau, founder of The Clear Cut, a NY-based direct-to-consumer brand known for specializing ... [+] in diamond engagement rings and fine jewelry, inspects a diamond. Nathaly Sanguino
Weddings, even during the pandemic, still symbolize hope, joy and love. Everything from the perfect dress to the picturesque venue to the memorable engagement gives couples moments to remember. Although the wedding industry experienced a loss in 2020, The Knot reported that the 2020 national average cost of a wedding was $19,000, a drop from 2019’s average wedding cost of $28,000. Now, factor in the cost of the engagement ring. According to The Knot 2020 Jewelry and Engagement Study, the average cost of an engagement ring is currently $5,500. But it’s just not about the cost of the ring. It’s about the right cut of the diamond, the style and the size.
Olivia Landau, founder and CEO of The Clear Cut, a NY-based direct-to-consumer brand known for specializing in diamond engagement rings and fine jewelry, helps couples design their diamonds and educates them on the process.
“The diamond industry, in general, has always had a reputation for being a bit more opaque,” Landau states. “You don’t really know what the prices should be, or what qualities are, and a lot of information is held from the customer. That doesn’t cater to this generation, and it wouldn’t cater to me as a client. From the get-go, The Clear Cut in its name encompasses transparencies. It was always education first and putting out as much information and minute details as possible to give our consumers the power to feel like they’re making an informed decision.”
What started out as an informational diamond blog morphed into an Instagram ecommerce store; 70% of sales are done directly through Instagram. In 2019, the company tripled its sales and sold a $200,000 engagement ring. The brand had more sales in Q3 of 2020 than all of 2018 combined. Landau and her team also celebrated a milestone of reaching $1 million in sales a month.
As a fourth-generation jeweler, Landau grew up learning about the diamond industry. Although they had their own antique jewelry store, her father and mother advised her to never go into the industry because there was no future in it. She always had fun dressing up with the jewelry but never saw this as a career path.
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Landau attended New York University with the vision of working in media or fashion. Through various internships in fashion media, she realized that was not what she wanted to pursue. In search of continuing her education, she applied to the Gemological Institute of America (GIA), which is the industry standard for diamond grading. She started working at Tiffany & Co. in the engagement department while attending school.
Kyle Simon, cofounder of The Clear Cut, and Olivia Landau, founder and CEO of The Clear Cut, are on ... [+] a mission to educate their customers on the process of buying diamonds and designing engagement rings. Nathaly Sanguino
She met her now-husband and cofounder, Kyle Simon, who had founded a fair trade diamond mine in Africa. Due to the Ebola crisis, he returned home and attended graduate school. As his friends at school prepared to propose to their significant others, they would ask Simon about what type of diamonds to purchase. Simon referred them to Landau.
“I would educate them, walk them through how to pick their diamond and design their ring,” Landau shares. “From that, I realized that most people were super lost. They didn’t know the first thing about buying a diamond. That’s what led me to ultimately start The Clear Cut as an educational blog, mainly geared for just like our friends and Kyle’s classmates to read about the do’s and don’ts before coming to work with me.”
From the blog, she started the Instagram account to feature some of the rings she designed. As her audience’s interest grew, that’s when the business launched.
“At that time,” Landau smiles, “I was really focused on getting people to read the blog and educate themselves. I was interviewing other people in the industry. I had a full-time job at the time. I didn’t go into it with an entrepreneurial mindset that I would start a business. Naturally, people started following the account. Strangers started DMing me, asking if I could also make their rings. I started making things for people across the country as a side hustle.”
After two years of treating The Clear Cut as a side hustle, Landau realized that she wasn’t dedicating the appropriate amount of time to either her full-time job or her growing business. Simon became her cheerleader to focus solely on The Clear Cut. In 2018, Landau and Simon were accepted into an accelerator program through TechStars.
The Clear Cut custom designed rings. Clear Cut empowers a new generation of consumers to create ... [+] their perfect hand-crafted diamond engagement rings. Nathaly Sanguino
Over the past year, Landau made an effort to pioneer the diversity and inclusion efforts at her organization and within the industry. The company launched The Clear Cut Scholarship Fund, which sponsors the tuition for a BIPOC woman who has demonstrated desire to work in the industry to attend the GIA graduate diamond program each term. Additionally, the scholarship offers a six-month paid internship at The Clear Cut.
As Landau expands her company, she focuses on the following essential steps:
Lay the groundwork. Gain as much experience as possible before jumping in full-time. Make the first move. Don’t the fear hold you back; let your excitement and curiosity drive you to take that initial step. Understand that you may have to take a lower position than the one you’re at now. That’s ok. You’re in the growing phase of achieving your goals.
“Don’t underestimate yourself,” Landau concludes. “Know that everyone else feels like an imposter as well. Feel confident in whatever you’re building and that whatever skills you have. ... Now more than ever, it’s better to be a female entrepreneur. There are so many more resources, so many more mentorship programs and so many more networks.”
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6f475933265065c4561accd9660682de | https://www.forbes.com/sites/cherylsnappconner/2012/07/17/employees-really-do-waste-time-at-work/ | Employees Really Do Waste Time at Work | Employees Really Do Waste Time at Work
I've known Russ Warner, a consumate entrepreneur, through at least three prior large and small organizations including Altiris, Alianza, SageCreek Partners, and Novell. Currently, he is CEO of ContentWatch, the maker of Net Nanny and a client of our communications agency in Salt Lake.
Russ Warner, CEO of ContentWatch, points to evidence that employees are wasting company time
Today, however, I would like to share a guest post from Russ on a purely entrepreneurial subject - the topic of employees wasting their time (and their employers' money) at work. There's no doubt it happens, and access to social media at work makes the tendency worse. The critical questions are how to assess the degree of the challenge, and how to address the tricky subject of how employees manage themselves and their time during work. Here's what Russ had to say:
There are many activities employees do that waste time at work. Excessive meetings, co-worker interactions, office politics, and fixing mistakes are a few. According to a recent Salary.com survey, one of the biggest culprits is surfing the Internet.
According to the survey, a majority of employees regularly spend time surfing the Internet on websites unrelated to work. Because “time is money,” every hour wasted has a direct negative impact on the bottom line.
Specifically, the survey revealed 64 percent of employees visit non-work related websites every day at work. Of that group, 39 percent spend one hour or less per week, 29 percent spend 2 hours per week, 21 percent waste five hours per week, and only 3 percent said they waste 10 hours or more doing unrelated activities. (My experience as a CEO tells me these figures are probably underestimated.)
The survey also revealed which websites keep employees most off-task. Not surprisingly, socializing on Facebook occupied 41 percent, while 37 percent use LinkedIn, and 25 percent are shopping at Amazon. Other destinations include Yahoo and Google+ and to a lesser extent Twitter and Pinterest.
The younger, more tech-savvy worker demographic appeared to be the biggest group of recreational Web surfers. Of employees between the ages of 18 and 35, approximately 73 percent reported spending time inappropriately at work on a daily basis.
Respondents said the No. 1 reason for slacking at work was that they don’t feel challenged enough in their job. Other reasons include, (2) they work too many hours, (3) the company doesn't give sufficient incentive to work harder, (4) they are unsatisfied with their career, and (5) they're just bored.
These reasons in part also explain why 46 percent of workers look for a new job while at their current place of employment – LinkedIn is the website of choice for those trying to network.
There are many ways companies can combat the effect of wasted employee time within their organizations. For example, of the 3,200 respondents in the survey, 71 percent said short breaks throughout the day help them achieve higher levels of productivity.
As it relates to inappropriate web site browsing, companies can implement a web filtering tool such as our ContentProtect on company computers to block or track websites not related to work activities, and if you suspect excessive wasted time, the IT group can install an activity-monitoring software such SpectorSoft to follow all computer activity on a particular PC.
Realize, though, that technically savvy people know how to access their favorite websites through smartphones or proxy websites. In any case, it's good business practice for companies to create, publish, and enforce policies on personal Internet use at any company interested in achieving higher levels of productivity. Establishing and enforcing policies should improve productivity but can also increase the security of company information, the security of company technical assets (computers), and will potentially reduce the liability associated with issues related to sexual harassment or employee job performance.
Do you have a policy for personal internet use at your own business? As communicators, I and my team could give ample stories of the foolish things employees (and even business owners) have done with social media during work time access and the way it affected their companies' PR (let alone their employment). I welcome your thoughts.
Author: Cheryl Conner | Google+
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52df891f86eac672b77acc1c82c1b09a | https://www.forbes.com/sites/cherylsnappconner/2013/02/11/how-to-fund-commercialization-of-academic-research-crowdfunding-of-course/?sh=2c3863e56507 | How To Fund Commercialization of University Research? Crowdfunding, of Course! | How To Fund Commercialization of University Research? Crowdfunding, of Course!
Perhaps it was just a matter of time – but here’s a new development in the funding of academic research and technology commercialization. The University of Utah’s Technology Commercialization Office (TCO)—#1 in the country for startups launched by research organizations for three of the last five years—has spun off more than 150 companies in the past seven years.
Crowdfunding is an ideal alternative to help accelerate successful commercialization of academic... [+] research.
Recently the U’s TCO has launched a program to help build even more value in the startups they spin out. The office has entered an exclusive agreement with crowdfunding platform RocketHub of New York. Their plan is to bring crowdfunding forward for the funding of university technologies on a new web portal: the University Tech Vault.
The program began Jan. 1 with the launch of four university-specific crowdfunding campaigns (more about them below). This is the first program of its nature. Based on its success, the U hopes to use the University Tech Vault to launch many more companies. Better news still: the University Tech Vault is not exclusive to the University of Utah. Any university is invited to post its campaigns. According to Matthew H. Gardner, business development associate, approximately 10 additional universities have expressed an interest so far.
Why is the program so advantageous? There are several reasons, Gardner points out.
The purpose of any TCO (or Technology License Office, TLO, as some universities call them) is to create as much commercialization success as possible. Clearly our economy and our society needs innovation—especially the disruptive kind of innovation that can produce bioscience and technology breakthroughs—to spur economic development, and with that development, create expansive numbers of jobs.
But who decides which technologies will actually make it to the market? Bloomberg’s Robert E. Litan points out that one of the big disadvantages of the traditional TLO model is that the TLO exerts the entire control over which innovations reach the market, in what form, and how fast.
These offices – particularly one such as the University of Utah’s--have produced scores of successful ventures and have great experience in determining the idea, the management team, and helping secure the funding that gets a successful university-generated business off the ground. But why not let the consumer and investment community take a greater role? The immediate feedback and funding “lift” crowdfunding can provide for these new developments can do much to advance these businesses more quickly and with a greater level of precision than the TCO’s resources alone could provide.
“We help a great number of companies get to market, however, the money a company could raise through the University Tech Vault can be extremely helpful to new business ventures that might not otherwise attract funding,” Gardner says.
RocketHub’s co-founder Alon Hillel-Tuch expects big things from the collaboration with the University of Utah as well. “This partnership is helping to drive further crowdfunding innovation,” he says.
How will the programs evolve as true CrowdFund Investing (CFi) becomes formalized by the SEC later this year? “Until the criteria is set, none of us knows for certain what CFi will bring,” Gardner says. “That’s one of the reasons we chose to partner with RocketHub—they are at the forefront in these new developments, and their role in working closely with the SEC and with the investment and commercial sector in this process will help ensure the process goes well. If CFi goes well, it could augment or even replace the role these companies are currently dependent on angel investment to play.”
Here are the first crowdfunding campaigns the TCO is launching. At the time of this writing, all four companies are making good progress, and one of them, Active Desk, has nearly met its full campaign goal.
Technology from Axon Optics assists migraine sufferers.
Axon Optics, a startup company developing an improved version of its unique eyeglass lenses that can reduce the occurrence of migraines. The company wants to raise $15,000. The team is led by University of Utah researchers Brad Katz, M.D., Ph.D., of the Moran Eye Center, and Steve Blair, Ph.D., of the department of electrical engineering.
iStar plays to the strengths of autistic children.
iStar, an educational program dedicated to teaching kids with autism spectrum disorders how to use computers for 3D modeling. People with autism often have strong visual skills, and iStar is promoting that through their innovative program. The program wants to raise $25,000 to add staff and expand. The team is led by University of Utah researchers Cheryl Wright, Ph.D., of the department of family and consumer studies, andScott Wright, Ph.D., of the gerontology program at the College of Nursing.
Roll Control allows wheelchair control with shoulders and arms.
Roll Control, a startup company with a product that allows disabled people to operate an electric wheelchair using large muscle groups (like the shoulder) instead of small groups (like fingers). The team wants to raise $10,000 to develop a second-generation prototype. The company is led by Jerica Johnson and Jessica Mayer, of the School of Medicine.
Active Desk, is a startup company with a desk fitted with a stationary recumbent bicycle. The bike allows the user to pedal their way to better health without breaking a sweat or interfering with
ActiveDesk keeps you moving during long days at your desk.
their work. The company wants to raise $10,000 to develop software and other improvements. The team is led by researcher Jim Martin, Ph.D., of the department of exercise and sport science.
Would you like to learn more about the University Tech Vault? You can contact Nick Swisher at the Technology Commercialization Office, University of Utah, at Nick.Swisher@tco.utah.edu.
Additional reporting for this article was provided by Jeremy Kartchner, Partner at Snapp Conner PR. Disclosure: SnappConner has a working relationship with the U of U TCO.
Author: Cheryl Conner | Google+
Gallery: Best Research Universities 20 images View gallery
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8cda48c35a1eaf9ce02c5e9913753dbe | https://www.forbes.com/sites/cherylsnappconner/2013/05/24/new-research-social-media-trends-for-marketers-in-2013-daily-deal-sites-80-down/ | New Research: Social Media Trends For Marketers In 2013 (Daily Deal Sites 80% Down?) | New Research: Social Media Trends For Marketers In 2013 (Daily Deal Sites 80% Down?)
The newest research says 80% of marketers aren't planning to use Daily Deal sites in their upcoming... [+] campaigns
Social Media Examiner has just released its annual Social Media Marketing report. It reveals some interesting data about this year’s social media marketing trends. The entire report is available for download here, but I’d like to highlight some of the report’s most surprising and significant points. In a survey of 3,025 marketers, the study determined the following:
-The use of social bookmarking sites has plummeted from 26% of respondents in 2011 to just 10% in 2013. De.licio.us, DIGG, Friendfeed, etc., are rapidly falling in favor where marketers are concerned. (According to ebizMBA, the most popular bookmarking sites are currently Twitter, Pinterest, Reddit and StumbleUpon.)
-Forums (24% in 2011; 16% this year) and geo-location services such as Foursquare (17% in 2011; 11% this year) are also in decline.
-Respondents with more than 5 years experience are far more likely to use LinkedIn than the average respondent (92% vs. 70%).
-Marketers who spend more than 40 hours a week on social media are more heavily focused on Pinterest, Google +, Instagram and YouTube than those who spending 6 hours a week or less on social media marketing.
-Biz-to-Consumer marketers have adopted Facebook at a greater rate than Biz-to-Biz marketers; however, the opposite is true for LinkedIn. Although Facebook is the most important social platform for a strong majority (67%) of B2C marketers, Facebook and LinkedIn are tied among B2B marketers at 29% each.
-67% of marketers plan to increase their Twitter activities. This is a significant majority, but is down slightly from 69% last year and 73% in 2011. Younger marketers are much more likely to use photo sharing sites such as Instagram than their older counterparts.
-Here’s the biggest shocker, for me: the report says 80% of marketers have no plans to use daily deal sites, such as Groupon or LivingSocial in the near future.
About the Data: Of the 3025 marketing participants in the study, 56% primarily target consumers and 44% target businesses. 72% of the respondents are 30-59. Females represented 62% of the survey sample. 57% are in the U.S., with the U.K. (9%) being the next-most heavily represented country.
Some of the data is not surprising. The use of bookmarking sites and forums has never emerged as a mainstream tactic for marketing pros. In fact, as reported by fellow contributor David K. Williams, the most popular forums and bookmarking sites are most heavily skewed towards entertainment and ‘funny pictures’, current research maintains.
Reddit and Digg are the top social bookmarking sites that continue to have the most power remaining for marketing and managing traffic en masse. On the flip side, the most surprising finding in the new report is that 80% of marketers surveyed aren’t planning on using a daily deal site for their marketing efforts this year.Marketers' Dream Come True?
The decreased plans for daily deals is the finding that, for me, presents the biggest surprise. In my experience (and that of others I have interviewed recently), daily deal sites are highly beneficial to brand marketers and products because of the “no cost” efficiency the model presents.
For example, Mike McEwan, owner and CEO of Very Jane (a daily deal site for boutique fashion, jewelry and accessories), notes that many of his sellers depend on the marketing they do through his site as their primary source of income. Says McEwan: “I have personally seen many small, obscure sellers and brands get their start from a daily deal on our site that went viral.”
Thousands of sellers market boutique items on etsy, eBay, or Amazon. However, each seller is in charge of their own promotion in these platforms and are competing with hundreds of sellers with very similar items. For a new or emerging brand to gain access to an efficient marketing avenue that is already established and efficient with no upfront costs would appear for many to be a marketer’s dream come true.
Lifetime Value of a Customer
For marketers who work for an established brand, daily deal sites may seem like a lose/lose proposition, since the most common model splits revenues between the manufacturer and the site at a ratio of somewhere around 50/50. When you consider that the “deal” is generally at least 50% off retail price, the math doesn’t seem to leave room for a workable profit. However, the lifetime value of a customer is the piece of the equation many marketers are inclined to ignore. Here’s the equation for the LTV (Lifetime Value) of a customer (courtesy of Brad Sugars, Entrepreneur.com):
(Average Value of a Sale) X (Number of Repeat Transactions) X (Average Retention Time in Months or Years for a Typical Customer)
Now the equation looks different. According to Sugars, it’s the lifetime value of your customers, in the end, that will determine the ultimate success of your company. What are your own online marketing plans for the remainder of 2013? Do you agree with the study's results? I welcome your thoughts.
Disclosures: Very Jane, quoted, is an agency client of my company, Snapp Conner PR. Snapp Conner has no business relationship with Social Media Examiner nor with Brad Sugars, ActionCOACH chairman and founder, whose LVC formula appeared in his column for Entrepreneur. Author: Cheryl Conner | Google+
Gallery: 5 Steps to Making a Sale Through Social Media 6 images View gallery
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4b04d951afb159ae4fdc1700dc909fab | https://www.forbes.com/sites/cherylsnappconner/2013/10/30/online-reputation-new-methods-emerge-for-quashing-fake-defamatory-reviews/ | Online Reputation: New Methods Emerge For Quashing Fake, Defamatory Reviews | Online Reputation: New Methods Emerge For Quashing Fake, Defamatory Reviews
Reputation management is a $5 billion industry
Unemployment is climbing, but at least one sector is burgeoning: Online reputation management (ORM) has become a $5 billion industry, comprising hundreds of companies devoted to monitoring, repairing, improving and policing the reputation of individuals and businesses online.
Many of these providers are legitimate. Many more, however, are creating more harm than they solve through dishonest and even illegal practices such as flooding the web with phony news releases, accolades, awards and counterfeit customer reviews meant to falsely spur buyer confidence or to push negative information aside.
For better and worse the legal industry is increasingly getting involved in online reputation as well. I spoke this week with Internet defamation specialist Whitney C. Gibson, a partner the law firm Vorys, Sater, Seymour and Pease (www.InternetCrisisAttorneys.com). Founded in 1909, Vorys currently boasts 375 attorneys in 7 offices and a lengthy list of awards.
Over the past two years the firm has developed an entire division to address ORM and defamation issues, and Gibson estimates the company has anywhere from 20-30 cases in the works at any moment in time. Online defamation currently accounts for 65-70 percent of the work performed by the firm's Internet Crisis Group, he said.
Whitney Gibson is a partner in Vorys, Sater, Seymour and Pease, LLP
Why is online reputation becoming such a costly issue, and why are so many practitioners of every variety getting involved?
Reputation is big business. Knowing that 70 percent of people trust online reviews and only 14 percent believe online advertisements, scurrilous providers are openly—even brazenly—stuffing the online universe with phony product and service reviews. Conversely, Gibson also notes the rampant increase in efforts by individuals and companies to sink competitors or to harm their enemies by posting negative news and reviews.
“We’re seeing the increasing phenomena of posting by ‘ex’s’: ex-employees, ex-customers, ex-friends, spouses and romantic partners—who feel the need and believe they see the opportunity to get even by posting defamatory information and phony reviews,” he says.
Until recently, the web universe has appeared to be helpless against the floods of bad actors. In fact, research indicates that many of the biggest customers for fake reviews and spammy reputation repair postings are the victims of defamation themselves, or people who’ve experienced isolated episodes of bad press, who believed they had no other way to contend with the negative information and move on.
But thankfully, signs of hope are emerging:
In September, New York Attorney General Eric Scheiderman slapped 19 fake review companies with fines totaling $350,000. “Courts are finding fake reviews equivalent to doing false advertising,” Gibson says.
Yelp has recently sued two companies for allegedly selling and posting fake reviews.
Last week, Samsung was fined $340,300 for hiring people to criticize HTC’s products.
Review sites are getting increasingly sophisticated at detecting false reviews through software filters that detect issues such as reviewers whose opinions consistently run counter to the majority, or who create multiple reviews for the same company from a single IP address, or for multiple reviews that share the same phrases and typos.
The media is jumping into the act: Articles such as “Scrubbed” in NY Magazine are seeking out and exposing organizations who specialize in gathering excerpts from credible sites to create bogus news and obscure websites meant to shore up the image of high net worth clients who’ve suffered reputational hits.
For the first time, Google is taking a more visible role in online reputation management, as reported by Search Engine Journal on October 16. In a video shared by SEJ, Google’s head of Webspam Matt Cutts addresses Online Reputation Management (ORM) directly. Increasingly, Google is netting out and discounting the sneaky link-building tactics of ORM practitioners who are attempting to bury bad news, the video says.
Google Webspam expert Matt Cutts
What can businesses and consumers do? The good news, according to Gibson, is that reputation management attorneys are becoming more skilled at vetting out the information that is likely to meet the legal definition of defamation if tested in court and are increasingly efficient at getting the bad content removed from its source.
It is also getting easier to locate publishers of false information through their IP addresses (and some sites even publish the information directly). In the cases where a cluster of negative reviews appears suddenly, victims may often have an instinct or at least a fair idea of who is perpetrating the information, Gibson says, making it easier to locate the sources and get the activities stopped.
With this knowledge, even without a court order, the team is successful in getting sites and perpetrators to unpublish false information in many cases.
Sites such as RipOffReport.com, however, continue to present a uniquely difficult problem in that RipOffReport declares full ownership of all information posted. Under current law, this prevents attorneys from successfully getting defamatory information removed (although for a fee of thousands of dollars a company can participate in a “corporate advocacy program” that allows them to publish information above the negative item after agreeing to provide prompt reaction to customer complaints and a written commitment to exemplary customer service, according to a Forbes.com article by contributor Adam Tanner earlier this year).
In these cases, Gibson and his team work to obtain a court order of defamation they can use to persuade the primary search engines (Google, Yahoo and Bing), to “de-index” the items (a process that Google, in particular, is handling increasingly quickly). While a consumer could still find the information on RipOffReport.com, in this case, it will no longer be findable within an Internet search.
As to how Gibson advises clients to deal with RipOffReport information that is inflammatory but doesn’t necessarily meet the full criteria of defamation, how should the companies affected respond? Whether to post a response or not is an individual decision, he says, that depends on the nature of the situation at hand and the desire of the company. Regardless, however, clients can ease the situation to the greatest degree possible by engaging in genuine earned media placements and reviews.
What about people who have lost job opportunities due to their appearance for past transgressions on mugshot websites? The notorious sites such as MugShots.com, while definitely problematic for the people who appear on them, are not defamatory, Gibson notes. Legal efforts to close or restrict these sites are meeting with difficulty so far as journalists and citizens push to protect the rights of these sites to publish prior arrest information as a question of freedom of the press and as a First Amendment protection.
However, the practice of charging “extortion” fees for mugshot removal (particularly as the items quickly re-emerge on sister sites along with additional offers of removal in exchange for additional fees) is progressively shrinking the traffic and strength of these sites as payment providers such as PayPal, MasterCard, American Express and Discover find the business practices of these sites so abhorrent they are severing their payment services ties, as reported by the New York Times. (VISA has not entirely removed service as of yet but is urging merchant banks to examine the business practices of these sites closely before agreeing to provide payment service, the article says).
Google’s Matt Cutt provides input as well, advising merchants and individuals to produce fair and relevant content as the best strategy for pushing negative information down. He notes that if your company qualifies for a Wikipedia entry, for example, you should place one, as these entries contain credible information and naturally appear first in search engine results with no need for manipulation.
LinkedIn profiles rank highly as well (for both individuals and companies), providing yet another means of naturally placing positive and credible information at the top of the Google search result stack. Blogs, columns, and genuine news and press should receive high Google marks.
SEO Expert Mike Munter, MikeMunter.com
Says Portland-based SEO expert Mike Munter, who provides clients with services for online reputation repair:
"For firms like mine that do reputation management work for clients, it remains to be seen exactly what constitutes a 'spammy' link. (Some spam is obvious and Google has given examples of it here.) But if we set up a quality, unique profile for a client on brandyourself.com and then provide links within that profile site to their Twitter, Facebook, and Vimeo profiles, is this considered link spam? What if we then also create a new and unique client biography at about.me and include a link in that profile to the client's brandyourself.com page? I'd consider these strategies ethical, natural and just smart marketing. We won't know if Google feels differently, however, until they start providing more examples (or our clients lose rankings.) It's been more than 18 months since Google's initial assault on link spam, so any reputation management firm worth its salt should know that those schemes are short-lived. Quality firms should focus on creating great content for their clients and cross promote it on lots of other reputable sites. That's the only way - currently - to achieve long term ORM results."
As final advice, Google’s Cutts suggests in his video the greatest ORM protection of all: behaving in a way that is genuinely worthy of a good reputation. He vows that Google will continue aggressive efforts to find and discount the “black hat” methods of attempting to manipulate search engine results.
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16b04de3443d725430bc3a30f049ddfa | https://www.forbes.com/sites/cherylsnappconner/2013/12/06/how-to-become-mentally-strong-a-video-chat-with-amy-morin/ | How To Become Mentally Strong: A Video Chat With Amy Morin | How To Become Mentally Strong: A Video Chat With Amy Morin
Author Amy Morin (Image courtesy of AmyMorinLCSW.com)
A community of 55 million monthly visitors is an interesting phenomenon. Imagine the world’s biggest “test bed” for an interesting message. When an idea resonates (or doesn’t) in the Forbes community the reverberations echo all over the world. Author and social worker Amy Morin is a case in point. Her allegory of “mentally strong people” and list of the 13 things they avoid has resounded to the tune of 4.5 million readers so far.
As a Forbes contributor, I loved Amy's comparison of emotional maturity to physical muscles when I saw and cited her list in my Nov. 18 column and offered an interpretation of the items as a message to entrepreneurs. I expected 10-20,000 readers would love it as well.
I did not anticipate what happened next. Millions have read, thousands have shared and hundreds have commented on the ways they’ve been inspired and encouraged by the way Amy's list distilled a complex theme to its essence.
Today I had the chance to meet Amy in person, to hear about the people she teaches and counsels, and to talk about the life experiences that have inspired her thinking. I am grateful she was willing to travel to New York to participate in this video interview with Forbes.
Amy has also shared her thinking on the ways people can increase their mental strength in a Forbes guest post that is trending this week. I’m hoping the Forbes community will be hearing more from Morin in the future. (Rumor has it that the stars are also aligning for an upcoming book.) Regardless, as a professional communicator, I am delighted to participate in the phenomenon first hand: The Forbes community has launched and discovered a thought leadership star.
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0f14364bd8d3e5b127876ccd8466a056 | https://www.forbes.com/sites/cherylsnappconner/2014/04/28/linkedin-ruckus-redux-site-wide-moderation-policy-quietly-evolves/ | LinkedIn Ruckus Redux: Site-Wide Moderation Policy (Quietly) Evolves | LinkedIn Ruckus Redux: Site-Wide Moderation Policy (Quietly) Evolves
Let me begin this update to my February story on LinkedIn Site-Wide Automated Moderation (SWAM) by noting that I am a fan of LinkedIn. The pervasive platform is a boon to job seekers, hiring companies, and even a source of competitive intelligence for a growing number of companies as I have reported before.
I will also note that LinkedIn Groups (the most valued feature for 35% of users) are free. However, for users who’ve been “SWAM’d” the impact can be career and business changing.
What is SWAM? In short, the policy LinkedIn quietly enacted some 16-17 months ago imposed a permanent and site wide sanction on any user whose posts were flagged with <Blocked & Deleted> by any group owner or moderator for any reason—rightly, wrongly, maliciously or even by mistake. Even worse, the users affected receive no notification of the penalty or who has invoked it. Their only clue comes when their next posting doesn’t appear and they make the unhappy discovery that any post to any group in LinkedIn is now suspended to await moderation approval.
In many groups, suspended posts are automatically deleted or may be greatly delayed or never reviewed at all due to moderator workloads (as well as the inherent implication the posts in moderation are suspect). Meanwhile, many actual spammers simply assume new identities and continue to spam. For other victims, the only remedy is to approach the moderators of each group they participate in, one by one, (where possible) and ask to have their rights to post reinstated a group at a time.
At the time of my February article, LinkedIn representatives assured me that an update to the policy was imminent. No announcement has come, but several readers including Abed Khooli and David Filwood, Principle Consultant for Telesoft Systems in British Columbia, have pointed me to a new LinkedIn article that quietly appeared in the company’s Help Center on April 2, 2014. The article says the power to trigger “SWAM” is now being taken away from group management teams. Site-wide moderation still happens, but it is now triggered by undefined LinkedIn algorithms and through the collective opinions of group members who choose to flag a discussion or comment with <Flag as Promotion>, <Flag as Job>, or <Flag as Inappropriate>.
On the face of it, the quiet shift appears to be a step in the right direction. Also encouraging is this statement from the LinkedIn article: In reference to a “first moderation offense” the update states “You'll be subject to moderation for up to a week or two per occurrence” and “This can vary depending on the number of occurrences."
The article provides no clarity as to the actual limits associated with SWAM sanctions, nor whether the penalties are increased in the case of a second, third or fourth time a user’s post has been flagged, nor does the article indicate that any of the people who’ve been SWAM’d during the past 16 months will have their posting permissions restored. "If the sanction associated with a first SWAM offense is now deemed worthy of only 'up to a week or two' of moderation, then what is the rationale for leaving users SWAM’d over the prior 16 months in permanent suspension?" Filwood asks. “Injustice can be defined as two people being found guilty of committing precisely the same offense under precisely the same circumstances yet receiving very different sentences,” he says.
Gary Ellenbogen, founder of SWAM Support Groups on LinkedIn and Google+ adds “It is not at all apparent that LinkedIn has removed my moderation required status from groups I have been a member of during these past 16 months that I have been SWAM’d.” (Ironically, a member of his SWAM Support Group on LinkedIn today reported she accidentally "SWAM'd" herself when she flagged her own former posts as promotions in an attempt to move them them away from the front page of her group LOVE JAPAN. By flagging the posts, she's inadvertently sent her own user account to the site-wide penalty box with no current way of getting her posting privilege restored.)
Is this the extent of the update? When I inquired, a LinkedIn PR spokeswoman responded via email: “We have started to make changes to our current groups moderation tools based largely on feedback from our members over the past year. You can see those changes reflected in the help center content that we've added. As part of those changes, we have reduced the moderation period for members that have been recently placed under moderation and added new methods for members to identify content that is valuable to them. The team is continuing to evaluate these changes based on member feedback and will update the help center to reflect any additional changes.”
Here’s to that. In other LinkedIn news, consultant and coach Wayne Breitbarth has promised a 2014 update in the coming days to his prior research on LinkedIn user trends that I reported last year as an exclusive update to Forbes.com. Stay tuned.
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f0874c7ef99414557150a0e85558174b | https://www.forbes.com/sites/cherylsnappconner/2014/06/25/top-5-ted-talks-for-entrepreneurs/ | Top 5 TED Talks for Entrepreneurs | Top 5 TED Talks for Entrepreneurs
Those who know me know I’m rapidly becoming a fan of TED presentations, not only as the embodiment of “ideas worth sharing,” but as a format for presentation that would benefit every entrepreneur. Be sure to check out my prior article on fellow contributor Carmine Gallo and his book Talk like TED here.
On that note, I’d like to share a set of five top TED talks for entrepreneurs. It's not easy being an entrepreneur, but fortunately, these presentations provide experience from the people who’ve done it before you. Following their advice doesn't guarantee success, but it increases your chances. Here's a look at five of the very best TED Talks for entrepreneurs.
Dan Ariely: Are we in Control of our own Decisions?
In this talk, behavioral economist Dan Ariely says no matter how hard we try, we'll make bad decisions. Do you want to know why you upsize your meal at the burger joint, or why you always buy a bigger TV than you thought you needed? It turns out we're not really in control of our decision making as much as we think. Our thought processes are predictable and easy to manipulate. Once you see how your decisions are nearly inevitable, you can figure out how to make better choices. For entrepreneurs, this information is especially helpful. Seeing bad decisions before they happen can make a major impact on your success.
Alan Siegel: Let's Simplify Legal Jargon!
To put it mildly, formalities and jargon have made the legal system inaccessible, and fearsome. It’s important that individuals, and entrepreneurs, fully understand the legal system and be comfortable accessing it. The only way to ensure this happens, though, is to breakdown the first barrier of entry: the jargon. Many legal terms scare people, (and they especially scare entrepreneurs), yet in reality shouldn’t be intimidating. Alan Siegel’s TED talk is a start. Apparently lawyers like it too: Said Adam Zayed, founding partner of Zayed Law Offices in Illinois, "Alan Siegel's, 'Let’s simplify legal Jargon!' is right on the money. I would consider it a must, for any entrepreneur.”
Richard St. John: 8 Secrets of Success
How did successful people get to be that way? Luck? Intelligence? Good old-fashioned hard work? Turns out, it's none of those things. In this talk, Richard St. John shares information gleaned from conversations with 500 extraordinarily successful people. He asked what helped them succeed, and distilled from their responses eight traits that all of them had. Want to see success in your life? Follow their path.
Seth Godin provides thoughts on getting ideas to spread via TED (image courtesy of TED.com)
Seth Godin: How to Get Your Ideas to Spread
Being "good" at what you do is likely the worst path to success, at least according to Seth. In this talk, he tells us that "good" doesn't get you anywhere. It's the bold, the bizarre and the downright crazy ideas that flourish into something remarkable. People in today's world are busy, and an idea has to stand out to gain traction. It's not so much your idea that is vital as it is your ability to get your idea to spread. In this talk you'll learn how to do just that.
As an example: the idea to replace the air filters in your office to save money is a good one, but in and of itself, it’s as compelling as a trip to the dentist (with apologies to all of the great dentists I know). You need to get the idea to spread. So an air filter company in Sweden (Camfil) built a tool to calculate the comparative savings of all the filtering strategies available to them, ranging from disposable filters to full-on purchase of filtration machines. They spread the word through social media, and the message was suddenly compelling: companies could save as much as hundreds of millions of dollars a year in some cases by simply changing their filters. It was still a simple idea, but now the impact was huge.
Simon Sinek: How Great Leaders Inspire Action
Everyone knows the classic idiom, "do what I say, not what I do." In actuality, though, it's what you do that people respond to. Great leaders lead by action and inspire cooperation, trust and change among those that surround them. Based on Sinek’s famous "golden circle of motivation" theory, the question "Why?" has inspired leaders ranging from the Wright brothers to Martin Luther King Jr. An entrepreneur becomes successful when they can get people to follow them. Once you've inspired those around you, that is when you'll start to see real success. (It’s the secret behind many of today’s most successful social responsibility ventures.)
Do you like these presentations as much as I do? And as entrepreneurs, which TED talks have been most influential to you? I welcome your additions to this list in the comment section below.
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305b6514ee93ede42cdfc91b1819feea | https://www.forbes.com/sites/cherylsnappconner/2014/07/19/from-viral-article-to-viable-business-seth-adam-smith-marriage-is-not-for-you-shares-steps-to-success/ | From Viral Article To Viable Business: Seth Adam Smith 'Marriage Is Not For You' | From Viral Article To Viable Business: Seth Adam Smith 'Marriage Is Not For You'
I connected with 28-year-old author and entrepreneur Seth Adam Smith this week through an introduction. Does his name sound familiar? It should. Smith is the writer behind the wildly viral “Marriage Is Not For You” blog post last November that has achieved 30 million views, has been translated into 20 languages, and has landed him on media outlets including CNN, Today, GMA and Huffington Post.
I recall my son and daughter-in-law sharing his article on Facebook. His blog appeared on Nov. 2 of last year, 16 days prior to my own brush with viral article infamy when I published “Mentally Strong People: The 13 Things They Avoid” based on information from psychotherapist Amy Morin (now a fellow Forbes contributor) on November 18. That article has received more than 9.5M views and has been instrumental in taking Morin’s mental-strength message worldwide, resulting in a deal with Harper Collins for her upcoming book (go, Amy!) and has created a tremendous audience and following for us both.
Author Seth Adam Smith has translated his viral success into business, including the release of his... [+] book Your Life Isn't For You
But Seth’s article didn’t appear on a platform like Forbes.com with 55M-plus monthly views. It appeared on the blog ForwardWalking.com that he directed as editor-in-chief, averaging 200-300 visits a day and on a great day would perhaps reach 3,000. He anticipated perhaps 1,000 or so views.
Nine months later, Smith is an internet phenomenon with 110,000 email and Facebook subscribers to his blog at SethAdamSmith.com. His site receives 10,000 visits a day. He has multiple book contracts, an ongoing column on Huffington Post, national speaking engagements, and a TEDx talk in the works for October. I wasn’t nosey enough to ask his income, but Smith acknowledges that writing and speaking are the centerpiece of his entrepreneurial business and have now become his full time career.
In a world where traditional journalism careers are imploding and book authors are appearing by the thousands, how did Smith accomplish this breakthrough? With my son and writing collaborator Craig Snapp, we talked to Smith about how he succeeded in building an audience so quickly, and how entrepreneurs can convert viral attention into sustainable business. Smith's advice is as follows:
There is actually no such thing as “overnight success.” With apologies for disappointing, Smith breaks the news that the idea of overnight fame (at least the kind that can be most successfully translated into a long term business) seldom, if ever, exists. In actuality, he has been involved in social media for years. He’s been producing YouTube videos since 2005, and learned a great deal in the process. “When people say I achieved success overnight—actually, I didn’t. I’ve been working really hard at figuring out social media and publishing for a very long time,” he said. Likewise, there’s no such thing as cracking the “surefire formula” for a viral article. In fact, the more you consciously try to create a viral article, the more likely you’ll fail (and look ridiculously foolish in the public eye for the effort). The public decides what does and doesn’t whet their appetites for responding and sharing, and it is risky to attempt to consciously manipulate those feelings and needs. However, viral articles do contain common threads. The messages that are the most heartfelt and sincere, without any kind of conscious agenda, tend to be the ones that go viral. Likewise, an ironic principle or perhaps a concept that is shockingly ridiculous can sometimes cause a piece to go viral. For example, the surprising twist in Smith’s post that the statement “marriage isn’t for you” wasn’t the dismissal of personal responsibility you might expect from the title, but was in fact just the opposite, has likely contributed to the immediate draw. But, as Smith notes, the gratuitous “hey, hey, look at me” pieces will generally fall flat. A winning article can be a long time in the planning, but surprisingly easy to write. “When I wrote the marriage article, it was actually one of the quicker things I’d written,” Smith says. “I’d thought about the idea for a long time. Then, after a fight Kim and I had, everything clicked and I wrote it all down. A friend of mine, an editor, looked at it and recommended a couple of tweaks, and then I published it. The total effort took me maybe three hours." This was true of the “13 things” article as well—I had written it in the space of several hours as a means of sharing hard-won and heartfelt advice with other entrepreneurs. Amy Morin reports the same experience in her creation of the original list of the 13 items—the thoughts came to her as vital principles that she memorialized as quickly as she could get them typed up into print. Opposition is a hidden blessing. There will be the inevitable critics who feel the need to eviscerate a popular article by taking a contrarian view. For example, several writers jumped forward with “Here’s the deal, Smith is wrong,” articles in the wake of Smtith’s viral success. He rode them out, and the naysayers actually spurred the success of his original piece even more. “My own brother finally posted on Facebook, jokingly, ‘If I see your face on this article one more time, I think I’m probably going to lose it.’” The attention to Smith’s initial article has calmed down, but attention to his role as an author has picked up in a different way: “I’ve always wanted to publish books,” he says. “It’s been a lifelong dream—fiction, nonfiction, everything. I’ve written and submitted lots of things. The publishing companies weren’t interested because I didn’t have a name. But when you are showing movement, have a platform going and are doing monumental things—now I can go back to the publishers and demonstrate the way I am working with legions of people who are interested in these same things, and now they are willing to go forward.” When an article goes viral it creates opportunities. Play them well. I note the case of Drew Conrad, the content management lead for the Salt Lake Company ZAGG (they make the iphone and ipad screen covers we all see). Conrad says that of 100 blogs the company writes, perhaps one will go viral, but when it does, it creates so much opportunity it makes the entire 100 worthwhile. But a viral experience isn’t necessarily a ride to success. In another example, a regional mom and dad suddenly hit the news when photos of the dad teaching his daughter a modesty lesson by wearing a pair of “short shorts” into a restaurant went viral. The parents took the opportunity to adopt new careers as public speakers and may well succeed, but in truth, many find the effort to forge a career from a wildly viral experience is an uphill climb. "You keep hearing, ‘You can’t sustain yourself on writing—it’s not a career—just keep it as a hobby.’” Smith takes nothing for granted and the career success his viral experience has given him is hard-won. Be very clear about your message. “People wanted me to write books and give seminars about love and marriage,” Smith says, “but that was the wrong message for me. I’m not the expert of marriage. In fact, in my article, I wasn’t at all the hero of that story; the hero was Kim. It was about the lesson I learned from my dad and from Kim. Yet I was confronted with a huge influx of people who were interested in love and marriage topics, and I had to find a way to bridge that gap.” Smith thought his options through carefully and came to realize that the better message and mantra that would work for him as a public identity would be “Self Help in a Selfless Way.” It has worked. To yield to the pressure to base his career on the theme of his viral article, he realizes, would have been a mistake. Manage your media opportunities with care. “We had no publicity agent,” Smith says. “The media came to us. The Today Show was the first to call, then Good Morning America came over and asked if they could bring a crew and filmed us for 3–4 hours. Fox & Friends was the first big interview, but until we went over there, Kim didn’t realize it was a national television interview. She thought it was a local Sarasota affiliate. But one after another, the offers rolled in. The media outlets were all competing with each other and we had to decide what to do. Which offers should we take? If we do this, the other won’t be interested.” While professional agents might be helpful, it’s important to realize that public attention can be a fickle commodity and nobody is able to predict the right answers with 100% success. Smith and his wife have used their own instincts to manage their route, and it has been serving them well. Pattern your success by finding great role models. This does not apply only to internet marketing heroes and personalities such as Brian Tracy, et al. For Smith, one of his key heroes has been Frederick Douglass, the famous former slave and emancipation activist from the 1800s. Smith has been motivated by the speech Douglass presented multiple times in the mid-1800s about Self Made Men, and he particularly likes Douglass’ sentiments about the vital role of hard work: I am certain that there is nothing good, great or desirable which man can possess in this world, that does not come by some kind of labor of physical or mental, moral or spiritual. A man, at times, gets something for nothing, but it will, in his hands, amount to nothing. What is true in the world of matter, is equally true in the world of the mind. Without culture there can be no growth; without exertion, no acquisition; without friction, no polish; without labor, no knowledge; without action, no progress and without conflict, no victory. Having a platform opens the opportunity to accomplish big goals in addition to business. In addition to revenue, the ability to inspire and command attention allows an entrepreneur to rally attention to worthwhile causes. In Smith’s case, he has been very open about his longtime struggle with depression. (In fact he attempted to take his life at age 20 and has written about that experience openly.) Smith writes and speaks about depression frequently and it is one of the topics that has galvanized the interest of readers who are dealing with these issues as well. As an example, one of the initiatives Smith is currently calling attention to is the program started by Sean and Rebecca Covey in honor of their daughter, Rachel Covey, who suffered from depression and passed away in 2012, Bridle Up Hope (www.bridleuphope.org). This is an organization that provides horse riding lessons coupled with life enrichment support to girls age 12-25. (My daughter Nadia participates in the program and it is also my company’s philanthropic program of choice, which is one of the reasons the program’s executive director, Stefan Harlan, was keen on introducing me to Smith.)
Smith's platform allows him to speak out on behalf of programs such as BrudleUpHope.org (Image... [+] courtesy of sponsor Down East Outfitter)
As we wrapped up our conversation, it was clear that Smith is living the messages he writes about in his posts. He is on his way to speak to a youth group in North Carolina this week. He’s excited about the prospect, but notes with chagrin as a working author that “the wifi access is possibly ‘iffy’.” He has just come back from a visit to Russia where he met with a publisher interested in obtaining the Russian publishing rights to his newest book. Amazon shows several books available from Smith—his first, Marriage Isn’t for You, is available now, and the book he’s launching on September 10, is available for pre-order: Your Life Isn’t For You: A Selfish Person’s Guide to Being Selfless. A third book, You, Unstuck: You Are the Solution to Your Greatest Problem, is slated for January 2015.
“I never could have predicted this,” he says. “It’s amazing beyond anything I could have imagined. The article has become a springboard.”
It’s an entrepreneurial catalyst that began with a single post.
For those who would like to subscribe to Smith’s blogs or to connect with him further, you can find him on Facebook, can follow his Huffington Post columns, and can subscribe to his blog via his website at www.sethadamsmith.com.
Additional editing for this article has been provided by writer and editor W. Craig Snapp
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aacf730f638bb9134e368e094d5eef70 | https://www.forbes.com/sites/cherylsnappconner/2015/01/04/scot-ferrell-the-new-executive-code-to-business-behavior/ | Scot Ferrell: The New Executive Code To Business Behavior | Scot Ferrell: The New Executive Code To Business Behavior
He’s “Dr. Phil Meets Pearl Jam”–best-selling author, radio host, family and business strategist, and yes, a rock aficionado who’s releasing the new book Your Rulz, Your Resultz: The Executive Code For Business And Behavior, as a guide for successful business in 2015.
In December I had the chance to visit with Ferrell and his wife, Patricia (she’s an entrepreneur, too) about his observations on company culture and what it will take for companies to be successful in 2015. As he prepares for launch, Scot notes a few of his top observations about the state of companies and culture today:
Leaders Should Fix Themselves First
In a nutshell, Ferrell says, the majority of business owners are disconnected from reality today. For companies to become stronger, owners and leaders should fix themselves first. Every person in a business will mirror the values, the integrity and the strengths (or lack of strengths) the company’s leaders display.
"Leaders should fix themselves first," says Scot Ferrell, radio personality and author of "Your... [+] Rulz, Your Resultz" (Image courtesy of ScotFerrell.com)
“It’s just like a family,” he says. “You can’t be one person in business and another at home. Leaders set the tone.”
“In family management I always maintain that if you’ve met the parents, you’ve met the kids, and if you’ve met the kids, you’ve met the parents,” he maintains. “The principle holds true for leaders in business as well. If the CEO or leader takes shortcuts or lacks integrity, the employees take note. And as employees exhibit leadership’s characteristics, for good and for bad, customers will notice as well.”
Hire for Character and Desire
Character and desire count more than talent as a company considers new hires, Ferrell says. “You can’t ‘train away’ flawed character,” he maintains. “But you can train a person of character to do anything fairly well.”
"I suggest taking an employee with desire over an employee with talent anytime,” Ferrell says. “Explain to them ‘Why should I?’ ‘What’s in it for me?’ and they’ll come through every time.”
“Remember the strategies of your high school coaches. Look for the employee who knows how to be a team player and who knows how to work hard.”
Customers Need to Feel at Home in Your Business
If a parking lot is dirty and disorganized, it’s an indication the business is likely disorganized and haphazard as well, Ferrell says. “If you have a dirty parking lot, it’s a sign. Your business is also a mess.”
“But if you illustrate the right value system and discipline, and if you can make me feel at home and feel right, you make it easy for me to spend my money with you,” Ferrell says. “Don’t forget that your customers have ample choices.”
For example, Ferrell notes that he and his wife are happy to seek out the Trump Hotel because Donald Trump upholds a brand that stands for excellence, he says. But in contrast he recounts the frustrating experience of walking into a well-known restaurant chain every day for two weeks to ask for iced coffee as displayed on the menu, complete with photo, only to be told it didn’t exist or to be provided with a variety of unfamiliar and undesirable results. In this case, he knows he’s discovered a company that is haphazard in training and quality and is unable to provide its customers in even a simple instance with a promised result.
How did Ferrell become so tuned in to company cultures? In part, he notes that as a life and family consultant, company employees and frequently even complete strangers have opened up about not only their lives but their company cultures to him. He’s learned plenty. (As have they.) As an interesting side note, Ferrell has coached numerous individuals (employees, families and those who’ve gravitated to him by instinct) through a scientific approach he’s developed for recovering from severe depression and disorders such as bipolar disorder, anxiety disorder and ADD/ADHD.
Interview with entrepreneurs Patricia and Scot Ferrell, CEO Space December Forum, Las Vegas
As a self-described former "sex, drug and rock and roller” (in actuality he is strongly religious) Ferrell’s candor and untypical approach to new-world problems comes through strongly to his readers and fans. He’s funny, too, as viewers will note from his various appearances on video broadcast and TV. Readers can order the new book and can reach Ferrell directly at www.scotferrell.com. As a fun note, I’ve learned that as of this posting Ferrell has also completed the launch of a new and nationally syndicated radio show on all things family and business. The new show airs on USA Radio Network affiliated stations at 12:00 p.m. EDT on Monday through Friday each week.
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1f0d081dd763a60dfac14a549e50f3ab | https://www.forbes.com/sites/cherylsnappconner/2015/03/14/new-report-marketers-tastes-in-social-media-are-shifting/ | New Report: Marketers' Tastes In Social Media Are Changing | New Report: Marketers' Tastes In Social Media Are Changing
While some aspects of social media are shifting, over the past 24 months other strategies remain largely the same, according to the newest Leadtail Social Insights Report.
In the newest March 2015 study of 1,434 CMOs, created in conjunction with Neustar, the social media research and strategy firm notes the following trends:
Marketers’ interest in location-based check-in apps appears to be over. Only 5% of marketing leaders share check-in information from sites like Foursquare in the current survey as compared to 28% just 24 months ago. Meanwhile, their interest in LinkedIn as a source of sharable content is growing. Cross posting of LinkedIn content to Twitter is up 200% over the past 24 months. Visualize This: CMOs’ appetite for visual content is growing, along with their desire for materials that can shift between desktop and mobile environments with ease. CMOs get the majority of their material from a relatively small number of sources. As has been the case for all of the prior two years, mainstream media accounts for nearly half of all sharing, with Forbes continuing to hold the Number 1 position, followed by the New York Times (paid), Fast Company, WSJ and Inc. For industry reports (which account for 38% of all sharing) the leaders are once again Business Insider, Tech Crunch, Mashable, Adweek, Advertising Age, Venture Beat and Re/Code as in prior reports. Surprisingly, however, the Top 10 industry reports finish out with Mediapost, The Business Journals and Hubspot Blog, proving that it is possible for upstart brands to reach top of mind among CMO thought leaders. Social media influence is shifting. In one of the most promising developments since 2012, CMOs have moved strongly away from the goal of simply having a large audience to the more meaningful effort of obtaining a highly valuable audience, of whatever size it may be.
In short, social media sharing is more valuable and prominent than ever as an audience engagement, branding and content management trend. But for maximum success, forget the “here’s where I’m eating lunch today” Tweets and stick to compelling content from mainstream publications and industry reports. Or how about developing some interesting and useful posts of your own?
Beyond PR: An eBook From Forbes Old-fashioned PR is dead. Discover how to communicate with purpose and passion today.
For optimal marketing success in 2015, visual content is more valuable than ever, CMOs say, and quality over quantity of audience is finally ruling the day. For a copy of the complete report, readers can register to receive the full results via Leadtail here.
Gallery: 7 Retail Trends That Will Shape How You Shop In 2015 7 images View gallery
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7d1db1a8c81c1c2d2ac57af330280a6e | https://www.forbes.com/sites/cherylsnappconner/2015/04/28/top-tips-from-10x-expert-dan-sullivan-and-his-biggest-mistakes/ | Top Tips From '10x' Expert Dan Sullivan (And His Biggest Mistakes) | Top Tips From '10x' Expert Dan Sullivan (And His Biggest Mistakes)
What’s the biggest secret in business? According to Dan Sullivan, of Strategic Coach Inc.--now in its 26th year—it’s the ability to ask great questions.
It’s a skill he’s been practicing since he was 7 or 8.
“I really hit on the power of asking questions when I was a kid,” Dan recalls. “You don’t need a lot of knowledge to ask really good questions, and it gave me entry into the adult world.”
The principle also landed him a job at one of the world’s biggest ad agencies—BBDO—where he quickly learned as a fledgling writer that what you write is only as good as the questions you ask. His skill became even more useful when the agency that represented Kraft, Chrysler and other major national brands assembled its “smaller” clients into a single unit where Sullivan, as one of the firm’s newest writers, was assigned.
He was hooked. “What I noticed in working with these clients was that they were entrepreneurs, not corporate executives,” he said. “You can’t ask a mid-range executive the same kind of questions you can ask of an owner.”
Beyond PR: An eBook From Forbes Old-fashioned PR is dead. Discover how to communicate with purpose and passion today.
But Sullivan’s curiosity came at a price: He became more interested in the conversations around who the entrepreneurs were, where they were going and why they were doing what they were doing than he was in writing their ads. The die was cast and in 1974 he struck out on his own.
Sullivan provided great value to clients. But his own business faltered as he discovered “there was a whole backstage area to running a business that I didn’t know.” He endured a divorce and several bankruptcies.
“The receivables did me in,” he recalls. “I was getting stretched 60, 90 days and didn’t have enough staying power.”
Then Sullivan met his match in the form of business expert Babs Smith. As a partner in business (and a year later, in life), Smith took an interest in putting a business structure around Sullivan’s skills. In the next 3-4 years he increased his revenue 10-fold (thus the “10x” Marketing name). As an individual coach his best year of business had brought in $200K. But by multiplying his reach through workshops he eventually achieved $2M on his own.
In 1989 the Strategic Coach program was born and with 15 coaches providing four workshops a year to some 2,500 entrepreneurs and organizations (an estimated 16,000 in sum) the firm is now producing $28 million a year from its centers in Toronto, Chicago, Los Angeles and London.
With the right team, Sullivan mastered his business in an optimal way. But what are the biggest mistakes he sees among the entrepreneurs he serves?
“Entrepreneurs make massive mistakes,” he observes, “But in almost every case, they emerge from one reason.”
“They either don’t realize or they forget that the reason for becoming an entrepreneur was to expand their freedom,” he says. “All of your moves, improvements and strategies as an entrepreneur should answer the question of how they free you up as an individual, in your relationship with time, money, relationships, purpose and especially in your overall purpose.”
“If you get clear on this point you grow and grow,” he maintains. “But if you don’t, your life gets really complicated and you can make some serious mistakes.”
With this foundation in mind, the secrets to freeing yourself up are quite simple, Sullivan says. In his programs and in private coaching he suggests entrepreneurs do the following:
Find your Unique Ability. (Caps intentional, of course.) What are the things you are passionate about that you’ve been passionate about since childhood, perhaps, and will still be passionate about until the end of your life? Not your occupation—your passion. (For Sullivan, it’s asking questions—thus his role as a coach and a popular podcast host, he reveals.) Figure out who you want to be a hero to. Passion doesn’t matter unless it’s connected to who you want to serve and influence with the unique value you bring. Entrepreneurs with unlimited ambitions to grow are the targets Sullivan addresses. Surround yourself with people whose Unique Abilities are different from yours. Think about a theatrical performance, Sullivan suggests. Technicians, stagehands, sound experts and actors. When everybody is superbly good at what they do, an amazing outcome occurs. If not—you experience churning and chaos.
For example, Paul Hamilton, from the Strategic Coach team’s Toronto office, tells me that from the time he joined the company in 2000 he found himself continually fine tuning the areas of need he observed. As he saw opportunities to add value he became excited and passionate about learning and then applying his skills to the areas he observed to help them succeed. “I started in project management, and now I’m leading our marketing team,” he said.
Entrepreneurs who are interested in learning more about Sullivan’s philosophies can listen to the 10x Talks via iTunes or 10xTalks.com. He also provides an extensive set of materials at www.strategiccoach.com.
But in a nutshell, according to Sullivan, succeeding in business is simple: Ask good questions. Find your unique value. Determine who you want to be a hero to and then align yourself with others whose unique abilities are complementary, but different from yours. Most importantly, remember that everything you do as an entrepreneur should serve a core purpose: To bring more freedom to you.
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6b63629ff1f3f3e0ff3973204614825a | https://www.forbes.com/sites/cherylsnappconner/2015/07/17/why-selfies-should-be-part-of-your-marketing-plan-and-9-new-photo-apps/ | Why Selfies Should Be Part Of Your Marketing Plan (And 9 New Photo Apps) | Why Selfies Should Be Part Of Your Marketing Plan (And 9 New Photo Apps)
Selfies have been part of our English vernacular since 2004, but opinions on their value run the gamut from “mental disorder” to viral marketing tool (a la Ellen DeGeneres and the 2014 Oscars). A study from photo editing site PicMonkey reveals that 47% of adults admit to taking selfies at least some of the time. So love them or hate them, selfies are here to stay. For marketers, the phenomenon is a bonus, in fact, as the skilled use of selfies can serve as a helpful marketing tool.
What’s Your Message? Have a Selfie Contest. Have you noticed the degree to which social media and journalism coverage has gone visual? But as I’ve noted in prior coverage, 75% of articles now include visual content, but the majority of article pitches to journalists include none. And 68% of journalists are frustrated by marketers’ inability to provide them with the things that they need. Here’s your opportunity. Stories need photos. People have always loved the photos best that include people. So if your product or service lends itself to a visual of any kind, take a picture of yourself in front of the delectable entree, or in the ambiance of your store. It will create much more interest than the store or the entrée alone. Or consider a selfie contest for your customers. See what kind of creative results they can bring. Make sure they have agreed, of course, to have the photo posted if you should pick it, and then let their imaginations run. You’ll likely get better and more interesting content than you could have created alone.
Everybody's into selfiies: Starfish Foundation Scholars pose with Soledad O'Brien (C) at Soledad... [+] O'Brien & Brad Raymond Starfish Foundation Hosts Fifth Annual New Orleans To New York City Gala at Espace on July 16, 2015 in New York City. (Photo by Neilson Barnard/Getty Images for Starfish Foundation)
Learn to Snap a Great Pic. If you’re going to snap a selfie and put it in your marketing or even your personal social media locations, take the time to create an interesting pic. Remember that everything you post, anywhere, becomes a part of your business and personal brand. The two relate to each other, so be aware of this phenomenon to every degree possible and do your best to not end up posting or showing up in images you’ll later regret.
But when you’re snapping a selfie, realize first of all that the rear-facing feature on many smartphones gives you an immediate look at whether you’ve aimed a flattering shot. Don’t be afraid to snap several. Hold the camera at an angle higher than your face, which will produce the most flattering angle (and the most opportunity to include interesting background and context in your shot). Try where possible to have the content and the context of the pic flow together—make the reason for the pic really apparent (and interesting). Lighting can also make or break a picture, so be sure you’re standing or sitting in a place where the lighting doesn’t create odd shadows, and that you’re not shooting directly into the light.
Editing Can Surpass an Abundance of Sins. Most every smartphone comes with a plethora of editing options these days. Use them with skill. What’s the most interesting angle and crop for your photo? And as you play with the editing tools, does it look better if you make it a bit lighter or darker, warmer or cooler, more contrast, black and white, or if you use one of the camera’s special photo effects?
Let your creativity play out, and you will do your audience a favor by giving them something interesting or even untypical to see. On the other hand, try to avoid anything but light and natural application of Photoshop. The point of a selfie is that the subject is “real”. Hiding figure flaws, crows feet, or re-making a tiny waistline defeats the purpose of the medium (and generally leaves tell-tale signs behind as well, such as wavy window blinds behind the altered waistline, etc.) For most purposes, it is better to leave these alterations alone.
Try a New App. With approximately a million and a half apps to choose from at Apple’s iTunes store and much the same for Android users, now’s the time to consider upping your game with one of the newly introduced selfie apps. With the help of a few of my friends who are marketing pros, here’s a set of nine photo apps you may not have heard about yet:
1) WWW.BACKIES.COM
Ever posted a selfie and then had to answer the question “Where are you?” A Backie is the other side of a ‘selfie’ that lets you share both sides of your story. Take a selfie, immediately flip the camera and take the backie. The app combines both pictures into a split-framed shot that tells the whole story. You can add a filter to the picture, change fonts, colors and layouts. It’s very easy to share. The Backies app is currently free for the iPhone.
2) WWW.HEALTHYSELFIEAPP.COM
This new health-focused selfie app is the brainchild of a Hong Kong-based couple. A lot like Instagram, you snap, share, hashtag and comment on photos; you build your own online community by being followed and following other users. Selfies are used to motivate users to achieve their health and fitness goals and a ‘Fit Feed’ keeps you updated on everyone’s progress in your network. Users can create before and after shots. Knowing you have your next selfie coming up can prevent you falling off the wagon and allows you to visualize the changes. You can also create a photographic food diary to keep track of what you’re putting into your body. It’s being touted as a ‘real fitness journey online with real people.’ Within its first three weeks it had more than 5,000 downloads and 11,000 uploads. This is a free app currently only compatible with iPhone 5 and newer models.
3) WWW.SPOTTLY.COM
Spottly is a community passionate about finding, collecting and sharing the best places in the world. Whether it’s an old local favorite, a new travel find or somewhere that’s on your bucket list. While travel articles, magazine photography, travel guides and blogs inspire people to seek out new destinations; this app is about delivering the next step when it comes to researching travel destinations. Spottly compiles all your travel information in the one central spot. Whether it’s a cool bar in Hong Kong, a local ‘hole in the wall’ in Cambodia or a deserted beach in Mexico, users can add it to the app, which automatically pairs it with useful information like addresses and phone numbers. So far the feature has generated posts from more than 21000 places, 2600 cities and 125 countries. Spottly is available in 14 languages and is currently free on iPhones. An Android version will be launched in the third quarter of 2015.
4) WWW.BLINKBUGGY.COM
Blinkbuggy is an app that’s reinventing the baby book. A sort of digital scrapbook, since none of us has the time to scrapbook anymore. Not only can you upload photos, you can record your memories by uploading emails, written notes, quotes, artwork and milestones onto one cloud-based service. It’s a photo album meets post it note wall. Blinkbuggy was developed by former Google ad sales manager Emma Weisberg when she became a mum and wanted to collate the milestones but couldn’t find anything that did the job online. One of the key selling points for parents is privacy. Blinkbuggy lets you make your scrapbook completely private or add people on an email invite basis. Parents can also opt to print photos by ordering a photo book straight from the app. Blinkbuggy is currently a free iPhone app, with the Android app in the pipeline.
5) WWW.TRACEUP.COM
If you’re an avid surfer, skateboarder or skier, this app will catch data from every wave, turn, or trick, allowing you to compare your performance over time and against others. It will automatically edit your video highlights, keeping the good stuff, removing the boring stuff. It gathers data from a small sensor attaches to the bottom of your skateboard or the top of a surfboard (or even a helmet) and captures motion data using inertial sensors and GPS. Motion data is offloaded via Bluetooth and your smartphone’s connectivity to Trace’s servers for processing and then fed back to your Trace app as a visualized session sheet. The idea behind the hardware sensor rather than just relying on the sensors built in to a smartphone — is that it enables more sophisticated data to be captured. With a battery life that lasts seven hours, Trace is retailing for $199. The app is free on iPhone and Android.
6) WWW.FACETUNE.COM
If you’re into selfies why stop halfway? Facetune takes it to the next level by allowing you to Photoshop your selfie to perfection. It smoothes, whitens, erases and tones - all with the flick of a finger, or two. It can even change your face and body shape. There are also a variety of filters, lighting, textures, contrast, and frame options to choose from. Developed by five guys in Jerusalem – four of whom had PhDs in computer science, they spent months building an advanced visual processing engine for mobile platforms. Facetune was an add-on to run on top of it, to show the world what it could do. Today it’s the 11th best-selling paid app on iTunes and has been downloaded 3-million times. Last year Apple named it one of their best apps. Facetune retails between $2.99 and $3.99 and is currently an iPhone-only app.
7) WWW.GROOPIC.COM
This app solves the problem of the photographer inevitably missing from the group photo. With Groopic there’s no need to worry about photo timers, where to set the phone down to get the photo, or trying to flag down a stranger in the street for the job. The app works with three simple steps. First, you take a photo of someone or a group of people (making sure to leave space for yourself); second, switch with someone else who takes the next photo while you stand in your marked spot. The camera’s view-finder overlays the first picture, so the second photographer can align the shot correctly. Third, the app automatically merges the two incomplete photos into a complete group photo with both photographers. Developed by Pakistani startup Eyedeus Labs, Groopic was acquired up by Google. Groopic is free on iOS and Android.
8) WWW.SNAPTEE.CO
Want to take a photo on your phone and put it on a t-shirt? That’s what Snaptee does. A t-shirt designing app that plugs into your camera feed or Instagram account, it comes with a wide choice of fonts, colours, design templates and custom filters to inspire the designer in you. Share your creations online for others to buy and you’ll get a cut of the profits. Simply use the app to order and if you think other people will love your design as much as you, turn on the Publish and Sell button making it available for purchase. For every t-shirt ordered you earn a 10% commission. To date Snaptee has created over a million t-shirts in tens of thousands of designs to 55 countries. One Snaptee t-shirt is $19.99 plus $5 shipping anywhere in the world. The app is free for iOS and Android.
9) WWW.EVERNOTE.COM
Of course you’ve heard of Evernote, but if you tried the app before and weren’t sure what to do with it, there’s a compelling reason to try it again--their new business card scanner, which is part of the full, free app. Released in January, 2015, this new feature is enough reason to use Evernote even if you don’t take advantage of all its other functionality. Open the Evernote app, navigate to the business card scanner, take a photo of the card, and the app saves the card image, reads the text, gives you the option of connecting to the person on LinkedIn, and then gives you the option to save the person’s information to your contacts. It’s fast and easy and will quickly replace whatever system you had for tracking business cards. Evernote is available for both iOS and Android.
Cheryl Snapp Conner is author of the Forbes eBook Beyond PR: Communicate Like a Champ In The Digital World.
Gallery: 8 Marketing and Advertising Jobs with a Bright Future 9 images View gallery
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a1b349f90d1851297f1ee79b1d8f5dce | https://www.forbes.com/sites/cherylsnappconner/2015/07/26/the-4-resources-millennial-entrepreneurs-need-to-succeed/ | The 4 Resources Millennial Entrepreneurs Need To Succeed | The 4 Resources Millennial Entrepreneurs Need To Succeed
Optimism in entrepreneurship is up among millennials, with 18% starting companies in 2014, up from 14% in 2013 according to a recent global report. Even greater is the number of millennials who now identify themselves as entrepreneurial—a full 70% say they’d reject traditional business to become entrepreneurs according to The Deloitte Millennial Survey and 1 in 5 would be willing to quit their jobs to become entrepreneurs according to a separate study.
So why don’t they?
According to young entrepreneur Justin Lafazan, founder of Millennial Marketing Strategy (I became acquainted with him through CEO Space International), it’s the lack of needed resources that’s holding them back. At barely 19, Lafazan’s company has worked with SXSW, Morgan Stanley , USA Today and countless entrepreneurs. He’s spoken at TEDx, been accepted to Wharton, is releasing a book in October, 2015, and has founded a conference.
Justin Lafazan, age 19, making a TEDx presentation about the challenges that face today's young... [+] entrepreneurs
Millennials would be more entrepreneurial still, he maintains, with sufficient access to the following resources:
1. Social Capital.
Millennials need mentorship. As confident as they may be, they recognize the need for help to guide their personal and professional decisions from those who’ve gone before (both within and outside of their chosen industries). Peer-level mentors are often the voices that carry the most weight for millennial entrepreneurs, according to Lafazan, as they value the ability to see and learn from others’ mistakes and not just their successes, he says.
2. Education. The media and pop culture has made entrepreneurship sexy, Lafazan says. College students are compelled by visions of 21-year-old billionaires who started their ventures in dorm rooms, but they don’t know the process that lies between the dream and the successful venture. Education (specialized education, geared towards entrepreneurship) is vital to complete the gap between the napkin sketch and a full-fledged organization. Vital topics include personal and commercial branding, business strategy, scaling strategies, and, of course, the ability to master PR. Further challenging these entrepreneurs, only 25% of entrepreneurship can be taught in a classroom according to renowned entrepreneur Peter Thiel. The rest must come from other sources such as Silicon Valley’s Draper University (“DraperU”), the Young Entrepreneurs Council (YEC), New York’s TechStars and industry publications such as VentureBeat, Inc., Entrepreneur, Forbes.com (of course) and Under30CEO.com. As a side note, I became acquainted with Lafazan myself through the CEO Space International business growth conference where I serve as a member of faculty (a role that is unpaid).
3. Investment. On average, a millennial requires at least $30,000 in startup funding to launch a company (although Lafazan believes there are effective strategies for starting and growing with less). Many times the resources millennials could invest in a company is directed instead towards college and an MBA. The media does millennial entrepreneurs a disservice, Lafazan believes, in that it celebrates the stories of millennials who’ve raised millions of dollars through vehicles such as Kickstarter while ignoring the truths about legal compliance, the assessments about which kinds of funding are best for what purposes, and how much money the founder is actually required to raise.
4. Inspiration. This is the most important but also the most intangible resource a burgeoning entrepreneur requires, according to Lafazan. Ideal resources are required to spark creativity and passion (but not to create it, he believes). Millennials should be encouraged to be uncomfortable with the status-quo, to pursue their dreams, and to answer their needs to care more fully than any generation before about work satisfaction. “What is it that wakes you up in the morning?” says Lafazan. He notes that often, it is the opportunity to connect with likeminded entrepreneurs that provides this inspiration for him.
And to that end, he has joined with fellow entrepreneur Dylan Gambardella to create a conference specifically for fellow millennial entrepreneurs: The Next Gen Summit (NGSummit.com) which is premiering at the end of this week, July 31-Aug 2 at the Austin, Texas Hilton. The event boasts corporate sponsorships from Uber and Verizon and will be live streamed to four continents and countries including the U.S., China, Greece and South Africa.
Live demo pitches will vie for some $20 million in funding at the first-time conference, and the team has assembled a roster of 25 game-changing entrepreneurs, scientists, politicians and teachers (including Lafazan himself) who will present in a TED-style format. I acknowledge Lafazan and his team for this effort and along with many others, I look forward to reviewing the conference results.
Cheryl Snapp Conner is author of the Forbes eBook Beyond PR: Communicate Like a Champ In The Digital World.
Gallery: Startup Spending Do's And Don'ts 7 images View gallery
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fad45947c1ebee3b5eef10ed312d0013 | https://www.forbes.com/sites/cherylsnappconner/2015/09/14/he-set-a-guinness-world-record-for-pr-should-you/ | He Set A Guinness World Record For PR--Should You? | He Set A Guinness World Record For PR--Should You?
Many marketers looking to launch their companies onto the “radar” of customers adore the idea of setting a world record in…anything. But here’s the story of an executive who actually did, and how it worked out for his business.
Dave Farrow, a PR professional and entrepreneur, runs a boutique PR agency in upstate New York. Among his other ventures he owns a company that specializes in memory management. That company has an interesting genesis. Farrow developed his product to address his own severe battle with ADHD. He had refused to address his challenge with medication and chose to work with his tendencies instead. He mastered his focus and memory challenges and formulated his strategy into a product, The Farrow Memory Program. To promote the program Farrow set a Guinness World Record for memory twice, memorizing the exact order of 52 decks of cards to set his first record in 1996, and then broke the record again in 2007 by memorizing 59 decks of cards in one sighting—a total of 3,068 cards.
The secret is to make your own company "memorable" says memory expert Dave Farrow (Image courtesy of... [+] FarrowPR.com)
In 2008 he used his memory in a PR campaign for Sony that readers may remember, to promote their PRS-700 Sony Reader. As part of Sony’s Reader Revolution campaign, Farrow lived in a DataVision store window on Fifth Avenue, New York City for 30 days. In an effort to increase the awareness and engagement of consumers with digital reading. Sony promised that for each page Farrow read, the company would give 100 EBook classics to an education institution. During the campaign, Farrow read a total of 44,097 pages, equating to 102 books.
Sounds like a great route to global attention, yes? Jamie Antoniou, B2B Product Managing leader for Guinness World Records, as interviewed by MaccaPR, can tell you about the record-breaking attempts of numerous companies including the mother of all record setting events enacted on October 14, 2012 for Red Bull Stratos that broke multiple records (including largest audience for a live stream advertisement) when it spent $20 million to sponsor daredevil Felix Baumgartner’s free-fall from a helium balloon at 128,000 feet.
Other world records set for marketing purposes include the following:
Tang (largest donation of toys in 24 hours), Coca-Cola (longest drink pouring relay) Virgin Mobile (most people crammed into a Mini Cooper), POM Wonderful juice (longest airborne inflatable beach ball relay) Nissan (largest indoor illuminated advertising billboard) Priceline Pharmacy (world’s longest chain of selfies) Italy’s Piazzagrande (world’s largest tiramisu) Domino’s (most pizzas – 7,539 pies – made in 24 hours) British Airways (highest performance of the Harlem Shake) Weetabix Breakfast Drinks (world’s fastest milk float) De’Longhi (largest cup of coffee) Smirnoff vodka (largest anamorphic painting) Big League Chew (most people – 721 of them – blowing a bubble gum bubble simultaneously)
Record setting is open to everyone. In Salt Lake City, for example, Salt Lake Comic Con (disclosure: they have been a client of my agency in the past, but we are not involved in this event) is currently aiming to break a record for the world’s largest gathering of people dressed up as comic book characters this month. (Apparently 1,530 is the number to beat.)
Was it worth it? Here’s what Farrow said: “Going for the Guinness Record was one of the smartest things I ever did. But not because it immediately starts a business--it doesn't. There are a number of Guinness Record holders who are flipping burgers. It does not guarantee you will be rich overnight. What my Guinness Record did do was connect my name to something much larger than me. It gave me credibility the same way someone can walk into a room and say 'I'm a Harvard grad,' I can walk into a room and say 'I'm a Guinness World Record holder.'" It is important to note that a Guinness Record is not the only way to achieve this. There are other ways as well, such as charity work, or to become a YouTube video star. But for Farrow, the Guinness Record was an ideal fit.
"In my company I try to find something equivalent to that achievement for every client, that can make them unique or connect them to an organization or credential that is much bigger than them," Farrow adds. "In a way, PR is like a Guinness Record. It is doing something that links your name to something that is much bigger (like doing an interview on a pervasive news story or them on a radio show or on a major news station.)"
I note that in Farrow’s case he often does a visual pun on the word “Pharoah” (which equates to great knowledge and brilliance as part of his marketing around his memory program.) So in photos and keynote speeches he’s often pictured wearing a Pharoah headdress, and running an “Ask the Pharoah” routine. (He’s even done this on television, as he did, for example, when he appeared on Dr. Oz).
Farrow performed a "pharoah" routine for Dr. Oz (Image courtesy of FarrowPR.com)
As to Farrow’s additional wisdom on the ways entrepreneurs can best achieve great PR, he had the following wisdom to share:
Cheryl Connor: What are the greatest PR feats you’ve accomplished that might pose some ideas entrepreneurs could try and could be successful with?
Dave Farrow: The greatest PR feat I've personally accomplished is selling more than $170k product in a single radio interview and $250k in a single TV spot,” Farrow says. “Interviewing is an art. It is about story telling. Entrepreneurs often think they will get the most outcome from being interviewed on huge shows. This is not always true. It's about how you tell your story. For example, a memory competitor of mine (also a personal friend) went on the Martha Stewart Show at the exact same time I went on Regis and Kelly. These shows have exactly same viewership. I did $28k in sales and he did $350 in sales. He sent me an email afterwards saying 'I'm going back to speaking. Sales is not for me. How did you do this?’ The lesson to take away: It matter's how you tell your story. Live interview skills are an art.
Connor: Do you think entrepreneurs can succeed without an agency?
Farrow: There is a huge learning curve in doing your own PR. I learned from a series of mentors that did it before. They weren't an agency but these people are experts in PR and they took me under their wing. Unless you work with someone who is on the inside and who has done it before, you have very little chance of figuring it out through trial and error in one lifetime. Actually, I would consider it impossible to 'accidentally' figure out PR. It has to be something that you learn from someone who has done it. Nothing that can replace that experience.
Connor: What about setting a world record? Worth it? If you had it to do again would you do your own PR differently in any way (relative to the award)?
Farrow: I definitely made mistakes with my own PR. I read every self-publicity, marketing and PR book I could get my hands on. But some things I did right. (Part of it is the nature of my niche. I was able to make my name and my brand memorable.) I stumbled my way through, as anyone would the first time around. If I could go back and do things differently I definitely would. But I can be satisfied now in doing my very best for my clients.
Do you have additional questions for Dave? If so, feel free to “ask the Pharoah” via the comment section below.
Gallery: Google Vice-President of Knowledge Alan Eustace's Record-Breaking Near-Space Skydive 9 images View gallery
Cheryl Snapp Conner is author of the Forbes eBook Beyond PR: Communicate Like a Champ In The Digital World. Do you have a great entrepreneurial PR story that others could learn from? If you do, reach out to Cheryl Conner via Forbes with your thoughts.
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a6784820ffd9a569f9b7772aeaef6497 | https://www.forbes.com/sites/cherylsnappconner/2015/12/29/5-cant-miss-conferences-for-entrepreneurs-in-2016/ | 5 'Can't Miss' Conferences For Entrepreneurs In 2016 | 5 'Can't Miss' Conferences For Entrepreneurs In 2016
Where will entrepreneurs spend their networking and educational time in 2016? Today I’m following up on one of my most read columns of 2015 with an update to my list of recommended events in 2016 for entrepreneurs. I have selected these picks with an eye toward high networking and learning benefits for entrepreneurs who are looking for connections to top mentors, new funding and innovative ideas for PR.
This is an unofficial list I compiled on the basis of quality of attendees, avoidance of hard sell platforms, social responsibility missions, and positive results for those who’ve attended. I attended all but one of these events, the NextGen Summit, in 2015. As disclosure, I serve in an unpaid role as a faculty member for one of the events I’ve listed, CEO Space.
On that note, my choices are as follows:
1) CEO Space. Now in its 28th year, this event is billed as a business growth accelerator conference and touts itself as the world’s central catalyst for Cooperative Capitalism, which I have written about in this column before. It addresses entrepreneurs of all ages, including teens at its five annual week-long events in Lake Las Vegas, in Henderson, Nev.
Benefits of CEO Space include sessions on legal, tax, strategic planning sequencing, marketing, branding, social media and sales. The organization includes high-power advocates for crowdfund investing (several advisors are former members of the SEC) and provides high-level mentorship for participating members. The event is known for assisting entrepreneurs with traditional funding as well, with several billion dollars in successful funding occurring at the event itself over the years.
All faculty members are vetted for professionalism and accountability through a due diligence process led by Avent-Guard.com. In 2016, the program will include “strategy intensive” events between forums. Says attendee R. Perez, who attended the December 2015 event, "This is a must if you want to take your business to the next level.”
Says founder Berny Dohrmann: “When business owners get together to work in cooperation, business accelerates and it’s like nothing else in the world.”
2) Secret Knock. This event began in the living room of its founder, Greg Reid (also responsible for KeynoteSpeaker.tv). Now several years old, the bi-annual event is known forward-thinking presentations from high-profile presenters who’ve accomplished significant business outcomes and enacted wide-scale social change.
Key to these events are TED-style presentations from individuals who are pioneers of change and advocates of collaboration. For example, Dr. Frank Shankwitz, Founder of Make A Wish; Brian Smith, creator of UGG Australia and Ron Klein, inventor of the credit card mag strip have been recent presenters at these events where attendees learn directly from sources (as opposed to teachers, authors or professional speakers). Other recent instructors include
Gene Landrum (creator, Chuck E Cheese) Sharon Lechter (NY Times best selling authority on financial literacy) Sir Bruno Serato (CNN, Hero of the year) Undercover Boss - Dina Dwyer (Mr.Rooter, Glass Dr, etc) Judi Sheppard Missett (Founder, Jazzersize) Wayne Nelson (Little River Band) Dr. Gladys McGarey (Founder of Holistic Medicine) Gary Goldstein (Producer, Pretty Woman)
A part of this event is that space is limited and it is exclusive. Attendees must apply and be pre-screened and approved to attend in advance. “It’s the greatest event you (cannot) attend,” Reid says. His motto: “Success guaranteed, or your old life back.”
3) The Hero Club. I first learned of this program from my friend Randy Garn, a serial entrepreneur who serves as the president of the Hero Global Initiative of Hero Partners, the organization founded by legendary Ascend Communications Founder and CEO Rob Ryan as a joint venture between his Entrepreneur America company and the Hyde Norton Group. Members of this application-only series of events receive mentoring and presentations from executives including Ryan, Hero Partners Co-CEO Tyler Norton, and others. Participants associate between sessions through online activities and periodic events at the newly acquired Teton Springs facility in Victor, Idaho (near Jackson, Wyoming). For more information on these events readers can contact Garn and team at info@heropartners.com.
4) The NextGen Summit is a new event that premiered in 2015 for millennial entrepreneurs. With the help of corporate partners that included Uber and Verizon, NextGen Summit’s inaugural event in 2015 helped startups raise more than $1 million, produced dozens of partnerships, and addressed an estimated 17,000 in-person and live-stream attendees. Run by a team “that can't legally drink” the program is headed by Justin Lafazan, age 19, and his partner Dylan Gambardella, also 19. In 2016,the program promises Deans of Admissions to top-25 colleges, TIME 25 Most Influential inventors and activists, NYT best-selling authors and Forbes 30 Under 30 politicos.
“Our 2016 New York event is gearing up to be the best one yet,” says Lafazan, with a Shark Tank panel comprising over $100 MM of investable assets, a globally-acclaimed speaker panel including founders of billion dollar brands, and more. For more information, readers can visit NGSummit.com.
5) Digital Footprint – For entrepreneurs with e-commerce sites, the 3-day Digital Footprint events teach strategies for building web traffic and business. Digital Footprint is the creation of Ken and Kerri Courtright, co-founders of 3-time Inc. 500/5000 company IncomeStore/Today’s Growth Consultant, which buys, builds and sells “google authority” sites that help organizations to propel their online business growth. At Digital Footprint, attendees learn the strategies this team has used to build several hundred revenue generating sites that are now serving up business content to more than 100 million people worldwide and leave the event with a personalized step-by-step guide on their own iPad Mini to grow their own sites in a similar way when they return home.
Have I picked the right events for 2016? If you’ve attended any of these five, I would like to hear your experiences. I also welcome your additional suggestions below.
Gallery: 100 Best Websites for Entrepreneurs, 2015 100 images View gallery
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d46b3857db8caecfe27e9a818768cfda | https://www.forbes.com/sites/cherylsnappconner/2016/05/07/first-time-author-how-i-got-my-own-press-and-interviews-with-luminaries-like-general-petraeus/ | First Time Author: 'How I Got My Own Press And Interviews With Luminaries Like General Petraeus' | First Time Author: 'How I Got My Own Press And Interviews With Luminaries Like General Petraeus'
This first time author, Deep Patel, has just released his first book, A Paperboy’s Fable, and is at work on a second, The Gray Veil. At age 17 he’s already served as a script editor and creative consultant for a comedy (She Wants Me, produced in 2012 by Charlie Sheen). In his book and in the follow up press he has interviewed 15 industry luminaries and has gained PR traction with leaders such as Ariana Huffington, Mark Cuban and former CIA director General David Petraeus.
While the fact that he is 17 is certainly an attention getter, what interested me most in Patel’s case is that he didn’t use this facet as the winning angle in his PR success. The steps he took are the same steps every entrepreneur can follow to achieve great PR. Here’s what he did.
This first-time author achieved Tier-1 press and thought leadership success on his own (Image... [+] courtesy of Deep Patel)
How to Get Exclusive Interviews. Instinctively, Patel knew that if his goal was to interview 15 powerful business leaders and influencers, he would need to approach many more than 15. So he began by making a list of the top 100 leaders, professors and executives he admired. Next , he set up a profile on LinkedIn and connected with at least the few people in his circles that he already knew (about 100 connections).
You can’t connect with someone on LinkedIn if they’re out of your network, which means you need to insert their email in order to send a request. However, if you download the LinkedIn app, he discovered, you can get around this restriction and send a connection request to almost anyone at all on LinkedIn.
“Obviously you shouldn’t become an invitation spammer,” he says. “If you do, LinkedIn will block your account. But if you use this technique correctly it can be very productive.” In total, Patel requested interviews with nearly 80 people. Fifteen agreed. Of these targets, he was able to reach two-thirds through LinkedIn, including former CIA director David Petraeus. Key to Patel’s success: There were no mass emails or templates involved.
“I tailored my emails to each individual I contacted,” he says. “For example, in my email to General Petraeus I noted that his background as a soldier, professor and businessman was relevant to a principle in my book. This personal touch made it more likely that people would respond.”
Next Step: Getting Press. Patel finished writing A Paperboy’s Fable in June, 2015. Now it was time to start querying publishers and literary agents. After doing some research online, he learned he’d need to make a book proposal. As he put the proposal together, he made his way down to the “Marketing and Promotion” section. He was just 16 and didn’t have a million followers on Twitter or a built-in mass following. What to do?
“I thought to myself, what if I can get contributors for well-known sites to write about the book? I could leverage that on the book proposal.” So in a similar way to the method he’d used to secure his interviews, Patel made a list of high-profile media sites such as the Huffington Post, Entrepreneur Magazine and Forbes and reached out individually to about 50 journalists from each site.
“I heard back from Jeff Boss, who is a Forbes and Entrepreneur contributor,” he said. “He is also the author of Navigating Chaos and a former Navy SEAL. Working with him was pretty amazing because I admired his background and had been following his articles. He said he’d be happy to write an article for Entrepreneur about the book during the week of its release (June 7) and even agreed to provide a blurb for the book.”
“Similarly, I heard back from MeiMei Fox, a New York Times bestselling author and Huffington Post contributor, who also kindly provided a blurb and agreed to write about the book. LinkedIn served as a great resource for this endeavor as well.”
Patel notes that most journalists include their email address on their publication profile, website or Twitter. “One of the most important things to do, I discovered, is to target your pitches to the right person,” he says. “Sending mass emails to a group of journalists is less productive than pitching ten journalists who cover something that is up your alley. It’s not a coincidence that the two contributors who agreed to write about my book are also authors themselves.”
This was how he approached me, as well, for this column. As opposed to a blind pitch of “Hey, I’ve written a book, so how about it?” he took the time to read my columns, observed what I’ve written in the past and came to me with ideas for bringing additional value to the things I’ve already said. Nicely done.
People are interested in the story of why you did something, Patel notes, whether it’s starting a company or writing a book, so he recommends including that information in email pitches as well.
“My publisher told me that if I pitched journalists, they’d be more receptive to my message, from me, than if they were pitched by a publicist,” he notes. “That was good advice.”
Becoming a Thought Leader. Two weeks ago, Patel was able to interview Mark Cuban. He achieved this feat after he wrote about a company Cuban and Ashton Kutcher invested in, Slyde Handboards, and emailed Cuban a link to the piece along with his request for an interview. In this case, he found Cuban’s email with a simple Google search.
“What I’ve learned is to keep your emails concise, be respectful of the recipient’s time and follow up once, at most,” he says. “If someone doesn’t reply to your first two emails, they are more than likely not interested in what you’re pitching.”
He also reached out to Arianna Huffington’s chief of staff, and told him he was interested in writing for their site, pointing to his book as background and his ability to speak to the interests of the millennial audience in achieving outcomes beyond profit. Thanks to that request, he now writes for the Huffington Post, which has led to other writing opportunities including two guest posts he has authored for Forbes.com, here and here.
Gallery: The World's Top-Earning Authors 2015 17 images View gallery
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e623c866c176ea421ab48ffbe317073f | https://www.forbes.com/sites/cherylsnappconner/2016/11/19/10-new-linkedin-tips-to-propel-your-pr/ | 10 New LinkedIn Tips To Propel Your PR | 10 New LinkedIn Tips To Propel Your PR
This week I re-connected with Nancy Friedman, the St. Louis-based customer service expert who’s enjoyed some extreme PR hits and has maintained her sense of humor in the face of her misses. In this visit, we took a fresh look at LinkedIn. I’ve covered the biggest LinkedIn mistakes in the past and have offered my favorite off-brand fixes. But with thanks to Friedman, here are some easy and proactive things you can do to increase your PR and customer service success in 2017.
CEO Nancy Friedman (Image courtesy of TheTelephoneDoctor.com)
Never (as in ever) use the default invitation. Remember the saying, “If you always do what you’ve always done; you’ll get what you always got?” Why be bland? The default invitation to connect that comes with LinkedIn is at best just “okay.” Instead, use a short but customized note of your own. Address the individual by name and give the reason you’re sending the invite such as a referral, the same college, fraternity or sorority or group. Or note something you found interesting on their profile. But always personalize. It will help you stand out, and the chances of acceptance will increase substantially as well.
Use endorsements liberally. An endorsement is a compliment. When you endorse someone with good reason (although you don’t need a reason), you’re acknowledging them in a favorable way. Most everyone likes to be acknowledged and may also return the favor in some way, now or in the future. What about endorsing with no good reason? In Friedman’s opinion, that’s okay. “You don’t need to be in love or buddy-buddy with a person to provide an endorsement. It’s simply a check mark that makes somebody feel good.” Remember that you can only endorse someone you are connected with already. So you’ll need to decide how valuable that compliment may be to you and to the person you’re endorsing. The old saying, "the more you give, the more you get" stands true here. Also bear in mind that your picture will be on the endorsement, and sometimes others will click through to see who endorsed Bob Smith or Judy Jones. It’s another way to gain exposure.
Update your picture 2 –3 times a year. In Friedman’s theater past an actor wisely advised, “Nancy, grow old with your audience.” What he meant was that she needed to update her head shot photo at least every two or so years. We should avoid the mistake of actors who’ve been off the screen for awhile who then re-appear on awards shows or late night TV looking comparatively like “The Night of the Living Dead.” Take a clue from public figures like Helen Mirren and others who not only do what they can to age with grace, but keep their audience in synch with their advancing stages by keeping their photos updated.The same advice goes for posting a photo that is authentic. Flattering angles and clothing are helpful, but do not make the mistake of putting up a glamour shot that will cause your audience to not recognize you or to be startled when they see you on screen or in person. Periodic updates allow people to see you accurately and will help to increase their familiarity with you as well.
Be liberal with your “likes.” You can give a “like” to anyone. You do not need to be connected or even know the person to genuinely compliment them on something they’ve posted. But be sincere. The benefit here is that the person will become familiar enough with you to accept an invitation to connect, or they may even reach out for a connection to you. Remember that giving “likes” is not an endorsement. It simply expresses, “Hey, this is good.” A comment says a little more: “This is good and I agree” (or respectfully disagree). You create the start of a relationship when you leave a remark. Also remember that as with Facebook, LinkedIn allows you to remove a “like” if you later realize you’ve made a mistake (such as “liking” a piece you later realize was ultimately in conflict with your personal values or tastes.)
Yes, you can do a cold invite, but only if you have a reason. While it’s allowable to connect without a reason (simply because you see interests or connections in common), having a reason helps and expressing the reason to the person you’re approaching will help even more. Keep the invitation short and sweet. If the invitation is an important one, Friedman suggests writing it elsewhere to be sure it’s fully ready and that you’ve proofread thoroughly to prevent the risk of a premature “send”. Giving your reason also eases the concern of people who are afraid you are connecting in order to “spam” them with sales requests.
Common connections do not necessarily mean common ground. Don’t make the mistake of assuming that people who have connections in common are similarly aligned or that they even necessarily know the person within their connections. Some (even many) people make it a practice to accept every invitation that comes their way as a courtesy, or invite others to connect as a way to increase their “numbers.” While having a high connection base may be of value to a columnist or author in increasing their regular readers or subscribers, Friedman advises that having 7000-plus connections as a “vanity metric” is not really helpful, as LinkedIn will only designate that you are connected to 500 or more. But she advises that when you see a person with fewer than 20 connections, you should be aware that they are not engaged enough on the platform for their contact on LinkedIn to be of high value to you.
Be careful about asking for recommendations. Recommendations are reviews of you or on you. They are very important. Friedman advises applying her customer service tips to this category of making a call or sending an email before asking for recommendation. In the email, she suggests letting the person know you would value and appreciate a recommendation, and why, and to give them a heads up that you’ll be sending the invitation. Most people will give a recommendation freely if you’ve done a good job or if they know you are in the process of seeking a new position, etc. You should always thank the individual afterwards, and be sure to reciprocate where appropriate.
Acknowledge new connections with a note. It is a great step to acknowledge every new connection as quickly as possible with a short thank you message, and if appropriate an invitation to action (such as an invitation to subscribe to your blog or columns) or to ask a question or to make an offer of help. If you are the person accepting the invitation, a short thank you note is a great step as well, along with an offer of help when you see an opportunity for them.
Acknowledge birthdays and job anniversaries. We get notices about our connections for these that make it easy to acknowledge a job anniversary or a new position, especially, with at least a “like” or a “thumbs up.” For those who work with the press, these notices are also a great way to stay on top of moves and changes to a new publication that you may not have otherwise known. Friedman advises acknowledging birthdays as well and notes that close to 100% of recipients will send back a “thank you.” She notes that it’s yet another way of staying visible to these connections as well.
Don’t ignore any like or comment you get. It takes only 3-5 seconds to type “thank you, Bob” after someone makes a comment on one of your posts. The effort is worth it, Friedman maintains. It’s a way to start or increase engagement as well. Your response of, “Bob, thanks for the like. Made my day” will help to make his day as well and will strengthen the relationship and the regard that you share.
Do you agree? Disagree? We look forward to hearing your favorite ideas as well.
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91b0aab03d3fcb4cd5f52aa0564b75c7 | https://www.forbes.com/sites/cherylsnappconner/2017/01/22/how-to-prevent-brandslaughter/ | How To Prevent 'BrandSlaughter' | How To Prevent 'BrandSlaughter'
As entrepreneurs we put a great deal of focus on our visible company attributes such as logo, colors, name and website, reputation, and the esoteric traits of brand promise. But what is a brand, really? It is people’s “gut feelings” about a product, a service or an organization. A brand is not what you say it is. It’s what they (your customers, prospective customers and employees) say it is.
David Corbin and Anne Smith. spreading the message of authentic brand promise (Image credit Ken... [+] Rochon, Umbrella Syndicate)
“Your reputation precedes you,” is a sign of brand integrity and of excellence in delivering on “brand promise.” It is a sign that your company, employees and products successfully deliver on the commitments they make. The company’s job, then, is to ensure that all client engagements and interactions successfully follow through in upholding that promise.
“Your leadership is cocky,” is a brand characteristic as well. Perhaps cockiness is an intentional part of the company’s culture in an organization that wants to send a message of “we’re auditioning you to decide if you are good enough for us” to its customers. In that respect, it may represent brand integrity for messages such as “are you good enough to be driving a Mercedes?” or “Are you important enough be wearing a custom-made suit?” But the characteristic, even if it’s authentic, may or may not be desirable to the set of customers you are hoping to serve.
Then there’s the concept of BrandSlaughter. In his book, “Preventing BrandSlaughter,” marketing expert and author David M. Corbin examines the ways an authentic and consistent brand is essential to attracting, engaging and keeping top performers within an organization.
Brand integrity is what happens when the elements of the company’s mission are taken off the wall and put into daily action, Corbin says. You can observe and measure your own brand through “visits with ABI”—the Audit of Brand Integrity that answers the question, “Are we genuinely living our brand?” Inconsistency or failure to deliver on promises results in BrandSlaughter—the quick and painful or slow and insidious death of the organization’s essence, which is, as you probably guessed it, the company brand. According to Corbin:
The company’s genuine brand is sum of what happens in the hands of each employee and permeates its interactions with customers. In this respect, one bad apple really can spoil the entire company brand. If anyone decides that upholding a key characteristic of the brand is “not their job” (such as the 4 C’s of cleanliness, communication, caring and compassion in Corbin’s example), that client-facing or internal failure is devaluing the company brand. Consider and measure the way the company and its employees respond to a misstep or a customer complaint. The result is either brand building (which can happen even in the face of a mistake if it is handled well) or is abetting brandslaughter. Recognize that brand safety requires a no room for error commitment to quality, versus the perception by employees that what they do doesn’t matter and that no one will know. Brand protection includes preventative measures for avoiding mistakes such as unlocked doors, mishandling of sensitive data, and even the integrity the company uses in handling a breach or in protecting the use of its database against third party solicitation for sales. Avoidance of brandslaughter means eliminating employees who complain about the company and its leaders to clients and outsiders or who complain internally about the company’s customers, instead of taking positive actions to address their concerns. Brand protection depends on leaders who are embodiments of the company’s vision, not walking contradictions to the values the organization claims to uphold.
The solution to these issues and others, Corbin maintains, is a commitment to regular brand audits (visits from “ABI”) as a way to identify strengths and weaknesses in the integrity of the company’s brand. Just as a company measures culture and engagement and the security of its technology and database, doing regular brand integrity assessments results in a holistic approach to leadership. Whether you do the ABI assessments yourself or with the help of outsiders, the exercise will bring people, process and brand together in the creation and strengthening of a clear and authentic brand that will leave the organization poised for success.
Gallery: The World's Most Valuable Brands 2016 25 images View gallery
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711a9fc4d3785eaca9b6a82db52631fd | https://www.forbes.com/sites/cherylsnappconner/2017/10/02/the-8-great-ways-to-vet-pr-and-marketing-vendors/ | The '8 Great' Ways To Vet PR And Marketing Vendors | The '8 Great' Ways To Vet PR And Marketing Vendors
I talk frequently about how and when to engage outside resources for marketing and PR. But equally important to picking the right moments is the process of choosing them well.
This week I had a visit with my friend David R. Fox, founder of Salt Lake City-based Fox Marketing Advisors, a strategy firm that specializes in holding marketing accountable. A serial entrepreneur, Fox believes in a simplified approach to marketing. Like me, he advocates for cutting through the jargon and myths to hone in on the programs that drive measurable ROI and put profit in the customer’s pocket.
Outsourced partnerships are a powerful thing--except when they're not, according to marketing pro... [+] David Fox. David R. Fox
With that in mind, I’ve invited Fox to share in this post his best strategies for vetting the vendors that are a good fit and will produce a strong ROI.
1.Trust But Verify
These days, many marketing solutions are actually products and services sold by highly trained salespeople with slick presentations and strong closing skills, Fox says. But there’s a big difference between a great pitch and a company that’s capable of delivering on their promises.
“When salespeople start throwing out statistics and telling me about the important clients and big projects they have worked on, I ask questions,” he says. “This works best if you are casual and unassuming.”
For example:
What problems were you hired you to solve? Tell me about your approach? Who did you work with at the company? Tell me about your results? What was your budget? What kind of ROI were you able to get? Are you still working together (Have they hired you again?) Who can I chat with about their experiences with you?
“Recently I was talked to the owner of an advertising agency who told me he’d done numerous projects for a big industry-leading company and was their ‘go-to guy’,” Fox recalls. “As I casually asked questions, he started to stumble. When I asked about the specifics of his projects, he hummed and hawed, citing non-disclosure agreements and privacy as the reason he couldn’t answer my questions.”
After the meeting, Fox reached out to one of the executives he’d bragged about working with through LinkedIn and casually asked about his experience. The executive said he’d worked with the owner on a small project some time ago, but the results weren’t great and they hadn’t done anything since. A vastly different story than the “pitch.” It may go without saying, but you should avoid any partner who lies in a pitch or exaggerates their accomplishments.
2. Read Reviews
You can gain a wealth of knowledge by reading reviews, both good and bad, according to Fox. When vetting a vendor, keep in mind that some people are trolls and that no one is perfect (but legitimate bad reviews can be great for identifying potential issues and setting proper expectations). When Fox reads reviews he keeps an eye out for issues such as the following:
Deceptive sales tactics Problems meeting deadlines Horrible customer service High staff turnover
These types of problems suggest the company doesn’t have its game together. Once you hire them, chances are reasonably high you’ll have the same issues as well. Recently, Fox recalls helping a friend shop for a car and found a dealership that had incredible prices and many 5 star reviews. But by reading the negative reviews as well, he learned the dealership sold a lot of rebuilt cars that had undisclosed issues.
Here are examples of things Fox looks for in positive reviews:
Exceeded my expectations Sincere and ethical Enthusiastic about their work Responsive, adaptive and willing to work with us Happy employees and great culture
While Fox is skeptical of overly glowing and gushing reviews (which are often fake), consistent reviews citing things like “exceeded my expectations” or “sincere and ethical” is a good sign and something to watch for.
3. Check LinkedIn
LinkedIn can be a great source of information on a vendor, and specifically on the CEO and owners of the company. While lying on LinkedIn is perhaps considered less egregious than lying on a resume, the results can be just as severe. Recently Fox was vetting a digital marketing agency that a client wanted to work with and discovered the CEO had just graduated from college and his only other job before becoming “CEO” of the agency was at a pizza joint. The experience he’d sold Fox’s client on was actually from an unpaid summer internship!While most CEOs have impressive backgrounds and great experience, it’s important to do your homework and understand the people you are going to be doing business with and their ability to deliver on their promises.
4. Do an Image Search
When vetting a potential vendor, Fox will often run a quick Google image search on the CEO, the company and its location. On several occasions, these simple searches have produced mug shots which have led to arrest records and the discovery that the CEOs had previously been in prison for fraud. One of the two CEOs had been indicted on 22 counts of fraud over a 25-year period. When the client confronted the CEO, he said he was entirely innocent and was framed. (Yeah, right.)
In addition to uncovering a scurrilous history, image and web searches can uncover executives who show up in rapid succession in a number of roles, have outstanding lawsuits against them, have been outlawed in some states or have negative or failing BBB scores.
5. Ask For a Client List
With fake testimonials and paid references being an increasingly common practice, Fox rarely ask a vendor for formal references. Instead, he asks for a client list including the names of people they work with. He asks casually, “So who do you do business with that I would know? And who do you work with who’s there?”
Then he reaches out to those people on LinkedIn, or just cold-calls them on a Thursday or Friday afternoon and asks about their experiences. He keeps it causal and says something like, “Hey, I’m David Fox and I’m looking to hire a digital marketing agency. I heard you guys have worked with a lot of companies here and I was wondering if you’d be willing to share your experiences?”
When cold calling a vendor’s client, always ask if they have a minute to chat. Keep conversations short and thank people for their time.
Notice that Fox doesn’t mention the company he’s vetting by name. Typically, if you mention the name, he says, the walls go up and people get tight lipped. But if you ask them what their experiences have been with digital marketing agencies in general, chances are they’ll tell you the good, the bad and the ugly. If you mention the vendor later in the conversation, you are likely to receive a candid response.
Another strategy to consider is checking into the “pleased customer” quotes a vendor may include on their sites. A PR company I was recently vetting for an article included a glowing testimonial from a CEO who said he’d received spectacular results. Yet a Google search produced no PR results at all for either the CEO or his company. The testimonial was clearly a fake.
In another case, a digital agency startup included two glowing testimonials on its page, but on closer examination (via LinkedIn) it became clear the testimonials were the company’s two founders, describing their former entities as if they were customers. Another red flag.
6. Check Industry Expertise
Recently Fox discovered a client was spending $3,500 a month on SEO that was producing only a few leads a month and no sales. When he went to talk to the SEO company with the results in hand, the account manager told me the company specialized in the automotive industry and had an incredible track record getting results for car dealerships. They had recently expanded and started taking on all types of clients, but were struggling to get results for other types of businesses.
"Although the account rep agreed that they probably wouldn’t be able to do any better for my client, he pointed out my client had signed a 12-month contract with a $10,000 fine for breaking the agreement," Fox said. "The CEO of the agency said they would sue if my client canceled and failed to pay the fee." What an eye opener! Although the client wound up breaking the contract, paying the fee and hiring another SEO company that specialized in their industry, Fox says the experience left a bad taste in everyone’s mouth. When choosing a service provider, be sure they know how to get results in your industry. And If they don’t keep their promises, be sure you have a way out that doesn’t cost an arm and a leg.
7. Remember That Size Matters
Like many industry specialists, Fox has found that many agencies working primarily for large companies struggle to get results for small businesses (and vice versa). A few years ago a client asked Fox to work with a regional advertising agency they hired that had a list of impressive clients, a stunning portfolio and many raving fans. But his client was a much smaller company than the agency usually worked with. Even though the client was willing to spend the money, the agency struggled to deliver results.
There was also a disconnect in expectations, as the client wanted to increase its customer base, but the agency primarily did branding. While the agency was expert at getting the word out, they didn’t understand how to bring clients in. The client wound up with a large bill and a very low ROI. It was a painful lesson.
8. Start Small
Even after thoroughly vetting a service provider, it’s a good idea to start with a small project and see how the company performs before handing them your entire budget, Fox suggests. Your experience with a company can be the very best vetting tool. Starting with a 3-6 month project with very carefully defined deliverables is a good way to find out if a company can deliver on its promises. Fox tells clients to beware of long-term contracts or agreements that come with early termination fees and no suitable ways out in the case of non-performance.
“If a vendor isn’t willing to start out small or insists on a long-term contract, you should ask yourself why,” says Fox. “After all, it’s up to them to prove they are worthy of your business, not the other way around.”
As one of my own clients often says, bring your rifle first; then your cannonball. Begin your relationship with a $2-4,000 project (your rifle), and track the results. If the results are worthy, you can bring out the cannonballs with a much better knowledge that your ROI is assured.
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fd37331673d640f2ba6be1a0f660ab98 | https://www.forbes.com/sites/cherylsnappconner/2017/12/31/6-cant-miss-conferences-for-entrepreneurs-in-2018/ | 6 'Can't Miss' Conferences For Entrepreneurs In 2018 | 6 'Can't Miss' Conferences For Entrepreneurs In 2018
This is the fourth annual appearance of this column, which has ranked as one of my most popular postings in 2017, 2016 and 2015. Today I’m providing a list of “hidden gem” networking and educational events in 2018 for entrepreneurs. I’ve made these picks with an eye toward high networking and learning benefits for entrepreneurs who are seeking great mentors, new funding and innovative ideas for PR.
This is an unofficial list I’ve created on the basis of quality of attendees, avoidance of hard selling, social responsibility, and positive results for those who’ve attended. I have personally attended and spoken at CEO Space. As disclosure, I’ve served in an unpaid role as a faculty member in years past and joined the December event in 2017. I am slated to be a keynote at the C3 Conference on March 7-8 and for the first time, I plan to attend the Small Giants conference this year. I have not personally attended the Gathering of Games, the Forbes Under 30 Summit or No Longer Virtual (though I would like to attend NLV if possible in February of this year).
On these notes, my picks are as follows:
1. CEO Space. Now in its 30th year, this event is billed as a business growth accelerator conference. It addresses entrepreneurs of all ages at its five annual 5-day events, located from December 2017 forward at the Innisbrook Resort in Tampa, Fla. Traditionally, the benefits of CEO Space have included Total Capital Education on topics ranging from legal compliance to investor presentations, tax and strategic planning, marketing, branding, social media and sales. All presenting faculty members are vetted for verification as Subject Matter Experts through a due diligence process conducted by Avent-Guard.com. Moving into 2018, however, the organization is stepping up its game to another arena. In an interview with CEO September Dohrmann, she highlighted the following milestones for 2018:
CEO September Dohrmann and Founder Berny Dohrmann are the husband and wife team behind CEO Space... [+] International. Roxanne Morganti Photography
The institution of a new board and re-vamped club president and sales programs that the company anticipates will result in 400 percent community growth in 2018. A new online directory and Membership App increases members’ ability to network between forums. New members and initiatives in arenas that include cryptocurrency, nano-treated coal for clean energy, hydrogen energy, super water for better hydration and a spectrum of medical innovations. Additional financing sponsors and partners. Increasing strength as an advocate for entrepreneurs and small business to the Federal Government in support of crowdfunding, tax legislation and political cooperation towards business. An increasing faculty with new experts in branding, marketing, media, publishing and social media. As a networking forum for partnerships, steadily increasing representation from strong and profitable companies and faculty members who are at the top of their games.
Says founder Berny Dohrmann: “When business owners come together in cooperation, business accelerates like nothing else in the world.”
2. The Gathering of Games. In 2017, this practitioner-led conference drew some 700 participants together to learn and share best practices in open-book management. Topics include information sharing, business and financial literacy training, employee empowerment, leadership development and help in creating a culture of ownership. Attendees range from long-term practitioners to “tire kickers” looking to see if the management practice is a good fit for their business. “We make this event highly interactive, with lots of opportunities for networking and idea sharing,” said Conference Coordinator Kristi Stringer. Attendees are typically the owners, upper management and board members of the companies they represent, along with front-line employees and middle managers. Participating companies include grocery chain H-E-B, American Electric Power, Missouri Southern State University, VanBelle Nursery, Zingerman’s Community of Businesses, Greene County, Missouri, Kiolbassa Provision Company and Goodall Homes.
Sessions focus on skills such as
How to think and act like owners How to promote continuous learning at every level of the organization How to fire up employees’ competitive juices How to broaden the concept of leadership How to delegate responsibility for the business How to drive innovation and build value in the business How to improve financial results for the company and themselves
The 2018 program will be September 5-7 at the Hilton Anatole in Dallas. As to how the program has worked out for participants, here are some of the things 2017 attendees had to say:
“Seriously the best conference I have been to in a long time. So well organized and thoughtful, with useful content & an engaging community.” – Julie Poulos, Red Caffeine Marketing “Life changing! So much stuff to take home and to work.” – Simon Janhunen, Able Dental Group “Game Changer. Now I have a ‘why’.” – Jack Heekin, Pedal Wagon, LLC “It's unlike any other experience. So much fun, learning & passion.” – Carrie Reese, Advanced Piping Products “The energy and willingness to share is unlike any other conference I've attended.” Janet Livingston, Daryl Flood Relocation & Logistics “More small businesses would benefit from learning these practices and methods from some of the best doing it.” – Dallan Guzinski, NCEO
3. No Longer Virtual (NLV). In 2017 I mentioned this emerging program as an honorable mention as the pilot project of PR and Communications expert Sarah Elkins, from Helena, Montana. The premier event in February was an outstanding success, leading to near-full pre-registration for the February 2018 event (the program accommodates just 50 attendees).
“No Longer Virtual is about leveraging our online connections to improve our offline lives,” Elkins says. “It will not include keynote speakers. Instead, it's a cohesive curriculum of two-hour workshops co-facilitated by prominent LinkedIn voices, with intended outcomes and a plan for follow up after the conference.” Readers can learn more about the NLV event here.
The keys to the success of #NLV, according to Elkins, is no keynotes: “The people who attend have experience and knowledge to contribute, so we leverage the experience in the room to benefit everyone.” Participation is good, she notes, but contributing is powerful, with an agenda designed around the theme of leveraging your online network, as an entrepreneur, to improve your offline existence as well.
Sessions include topics such as strategies for connecting beyond the keyboard, engaging content, building your brand across multiple media and platforms, and tips, tools, and strategies for scaling your business.
The best parts of this conference are the spaces between and after events designed for meeting and connection time with other participants and speakers.
Especially key is the "After Conference Hangover"—the discussions, relationships and synergy that continue in the months that follow the actual event. “That's where the magic is,” says Elkins. “It’s in the nurturing and expansion of relationships that originated online into a powerful and life-changing offline network that results from the opportunity to simply meet face-to-face.”
4. The Forbes Under 30 Summit. As a Forbes contributor, many of the questions I get from young entrepreneurs surround what it takes to be considered for the Forbes 30 Under 30 lists.
My answer is always the same: regardless of my opinion, the best way for prospective nominees to prepare is to meet the current honorees and speak to the Forbes teams directly by attending the Under 30 Summit events.
This relatively new event premiered in 2014 and has grown in popularity each year since as a forum that brings in famous and successful young entrepreneurs worldwide. With more than 6,000 attendees in 2017, the event comprises multiple content tracks at locations such as Boston’s Faneuil Hall and MIT. The program includes a music festival, food festival, celebrity entertainment, investors, a day of service and startup competitions.
For a little more perspective I queried two of the 2017 30 Under 30 honorees about the event. Said Candice Galek, Founder of BikiniLuxe: “I attended my first ever Forbes 30 Under 30 conference in 2017 after making the list. It was in Boston, and I didn't really know what to expect. I attended by myself, with the goal of making new connections and friends along the way.”
“The first day I went to the Women at Forbes event, and found the speakers inspiring and relatable.”
Galek enjoyed speakers including Lindsey Vonn, Kendrick Lamar, John Sculley, Jake Paul, Bozoma Saint John, and Ray Dalio.
“I took the time to mentor a younger attendee and met so many other interesting people, and made friendships that have transcended the event. It's great to support each other, collaborate and bounce ideas off of other entrepreneurs at events like this. Would I go again? Definitely.”
Taylor Freeman, 2017 honoree and cofounder of Upload, Inc., agrees: “The connections there are invaluable. It's super inspiring to be surrounded by pioneers from so many industries. It helped us find some instrumental partners for our emerging VR/AR education platform. Forbes does an incredible job with their entire 30 under 30 initiative.”
5) Small Giants. Of all of the 2018 recommendations, I am particularly excited about this event and plan to attend this year’s proceedings May 15-18 in Detroit as well as the second annual Forbes-partnered event in New York in the Fall.
Authenticity is the theme of the 2018 Small Giants event. SmallGiants.org
This annual summit is a capstone event for the Small Giants program and rotates its location throughout the U.S. (although program coordinator Hamsa Daher notes the first event was in Germany). The audience includes attendees from the U.S. and abroad and includes high-value content and unique social experiences, with a focus on authentic relationship building.
“We provide practical sessions and experience ‘for practitioners by practitioners,’” Daher said. “These are all founders, cofounders and COOs sharing stories about their real experiences.”
One of the most highly-rated sessions at each Summit is a session called Think Tank. Entrepreneurs are pulled from the audience who are willing to take the stage and pitch a pivotal challenge they’re facing. The attendees “crowd source” their ideas for solutions. The conference follows these participants and publishes the news about how they are coming along in their progress.
This year—the program’s third—will be partnering with again with Forbes as a source of nominations for the Forbes list of Small Giant companies (if you qualify, be sure to submit your nomination for the award before the extended deadline of January 15, 2018). In addition to the Forbes awards and visibility, the conference has been sharing the stories of participating companies throughout the year through all of the companies channels, Daher said.
The 2018 winners will be announced at the May 15-18 conference in Detroit. As before, there will be a Forbes panel that will allow the audience to hear the companies’ tales from their founders.
The sessions at Small Giants are interactive and will include an assortment of “Long Story Shorts”—20 minute TED-style segments to present leadership stories and pivotal moments. The Small Giants program emphasizes the practical side of business with best practice recommendations, nuggets of wisdom, and new resources participants can take away from the show. Evenings are reserved for social events that focus on relationship building and reconnecting with friends.
Entrants can make speaker proposals (if they hurry), but at the time of this posting, the program is 80 percent in place, Daher says. The celebration will continue in New York in October, hosted by Forbes, in which original companies from the Small Giants book will attend along with the 2018 winners.
6. Honorable Mention–The C3 2018 Conference by Conductor, Inc. This relatively new marketing event is from content intelligence firm Conductor, Inc. in New York. The March 7-8 event will be the program’s second annual occurrence and expects to draw 700-800 marketing leaders who will hear from corporate marketing leads from Microsoft, American Eagle, Home Depot, Slack and others. Conductor is a cutting-edge provider of content strategies that are directly correlated to sales and revenue success. If you attend, my own presentation will cover “Influence: How to Get it and Use it for Business in 2018.”
Thanks to all who contributed to this year's entries. Have I included your favorite? If not, feel free to provide additional input in the comment section below.
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1f3d4e537c8229b600389b352ef9c5ca | https://www.forbes.com/sites/cherylsnappconner/2018/01/28/fake-followers-expose-on-devumi-spurs-backlash-on-social-medias-black-market/ | Fake Followers? Exposé On Devumi Spurs Backlash On Social Media's Black Market | Fake Followers? Exposé On Devumi Spurs Backlash On Social Media's Black Market
This morning a colleague forwarded a link to the New York Times article The Follower Factory—an exposé on an obscure American company called Devumi that sells Twitter followers and bots that automatically retweet celebrities, executives, social media “influencers” and anyone else who will pay.
My reaction: “Wow.”
The rules of social media are changing 123rf.com
Back in the day, (approximately 2012) the mystical number of 10,000 followers was the bar social media savvy executives aspired to. A well-known Utah CEO even joked about the phenomenon in a speech. In his brief sojourn after a highly-publicized exit, he noticed his contemporaries had 10,000 followers apiece, compared to his own 5,000.
“Then I realized they’d bought them,” he said. So he purchased 5,000 more of his own, to stay even. But then he noticed when he posted about issues that mattered to him in tweets such as “Read this article--insightful” that within 30 minutes or so, at least 500 people had read. Allowing for the fact that 50% of his followers were fake, he had managed to move 10% of his 5,000 legitimate followers to action in less than an hour. This was good, and described the growing power of social media influence, even in cases where the number of followers had been fudged.
But fast forward to 2018 and the floodgates have opened. Twitter’s records show 330 million active users posting 500 million tweets every day. The leaders this executive scoped in 2012 now have followings of 45-50,000 apiece. But for celebrities and professional influencers the sums are outrageous. @RealDonaldTrump has 47.5 million followers. @KimKardashianWest has 58.5 million.
Are those followers real? For Devumi’s 200,000 customers (including TED speakers, professional athletes, actors and executives) the majority are not, the New York Times article reports. Many are not even the product of Devumi, but the result of outsourced bots that have altered and impersonated the identities of legitimate users to post about products ranging from sundries to porn. The company’s Manhattan address is a fraud. The founder’s LinkedIn resume is largely fabricated as well, claiming advanced degrees from M.I.T. and Princeton that both universities have denied.
The fake followers phenomenon applies to Facebook as well. In November, the Times reports, Facebook disclosed to investors that as many as 60 million accounts—twice as many as previously estimated—are automated bot-generated accounts. What does this mean for individual and company social media campaigns? Thankfully, according to sources I’ve queried, the priorities are changing.
Must you have high followings? Yes, says an affiliate I queried on condition of anonymity. “Likes beget likes,” he said. The more followers an individual has, the faster their organic following rises. The initial set of followers is vital for priming the pump.
His suggestion: for a brand or individual getting started, purchase followers 10,000 at a time. Then wait several days and use a program like TwitterAudit.com to identify what percentage of the followers are fake and find and block as many as you can find that aren’t real.
Another more organic approach (one we've suggested and used with success for our clients) would be to use Twitter search to identify users that fit a desired profile—C-level executives, sports enthusiast, etc. Follow as many of them as possible (up to the Twitter-defined limit of 1,000 per day). While doing this, post compelling and relevant content several times per day. A good share of those you follow, seeing the relevance, will follow you back. Continue until you have achieved a “critical mass” of 2,000 followers or more, at which point your following should rise organically with more ease (particularly if you are commenting and sharing the content you consider valuable from the other users you see).
If desired, you can proceed manually or with the help of an automated tool such as Buffer to unfollow the users who have not followed you back within a number of days.
I also spoke, on the record, to Oliver Talamayan, a social media monetization expert I met through a prior client, City Summit 2017. Talamayan is a producer of the City Summit 2018 program, which will feature a keynote from Ashton Kutcher. Talamayan notes that in his experience, brands and businesses are being called to a higher level of integrity in PR and marketing now.
Consumers are increasingly more effective at identifying social media "fakes." OliverTalamayan.com
“Consumers are getting smarter by the day,” he said. “So many people have a huge following that it’s not such a big deal anymore. Consumers are becoming desensitized to the number of followers someone has.” So for business outcomes, amassing a following is no longer enough.
“Viewers don’t care about your followers; they care about the value you bring to their lives on a daily basis,” he said. “Do you enrich their lives or are you just another annoying thing popping up on their phones? Nowadays, consumers have stronger ‘authenticity’ radars, and can sniff that something is ‘off’,” Talamayan adds. “When you have a lot of followers but not a lot of engagement, It looks weird. Instead of a good first impression, you are starting the business relationship communicating that you can’t attract a real following, so you’ve bought fakes to boost your social status.”
To some degree, fake followers have produced revenue for influencers who make money by selling their posts and retweets. According to Captiv8, a company that matches influencers and brands, an influencer with 100,000 followers might score a sum of $2,000 for a promotional Tweet. But with a million followers, the price could rise to $20,000, currently. These prices could evaporate, however, as consumers grow more savvy to phony followings, Talamayan warns.
His advice: Instead of focusing on the number of followers, focus your efforts on being relevant and valuable to your target market. When you do, you’ll attract legitimate and high-quality followers who become fans that engage, remark, share your posts and buy your products, without being paid.
Fake followers won’t bring you revenue, Talamayan concludes. “All they bring is a temporary feeling of status and fame. On the other hand, real, loyal, and high-quality followers bring business, referrals and relevant feedback.”
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496862c7b5746cae0a2bf95f8b9d10d5 | https://www.forbes.com/sites/cherylsnappconner/2018/07/08/10-sure-tips-for-getting-into-the-press/ | 10 Sure Tips For Getting Into The Press | 10 Sure Tips For Getting Into The Press
Of all strategies growing businesses are interested in learning, skills for getting yourself and your company into the press is at the top of the list. To that end, today I’m outlining the basis steps every entrepreneur can take to achieve a solid level of PR exposure even without consultants or PR agency support.
"Be relevant, and be interesting." Steve Sims, author of "Bluefishing: The Art of Making Things... [+] Happen," CREDIT: Emily Berl for The New York Times
Research Your Target Publications. First on the list is to create a target list of the places that would be most appropriate or beneficial for your company to appear. Choose at least 10-20 key targets. At least some of your choices should be based on being the publications your customers most often read (or would respect) such as Associations in your field of service or niche industry publications. But you can choose some targets based on their credibility factor as well. Acing for top U.S. outlets such as the WSJ, New York Times and Forbes is fine to consider, but could take a great deal of creativity to conquer and be based on something other than a profile of your company itself, such as a write up on popular new cooking apps, or a feature on which industries fared best in the midst of an economic fright (like food storage), or unique ways founders have started a business. Then set aside at least a weekly time (if not daily) to read—scan the types and style of article your company would fit into and hone the reasons your pitch would be irresistible to their readers. Research the reporter(s) you’d like to pursue. If you participate in classical music performance, for example, who in the publication reviews this kind of events? Where else might you fit, such as ways to create greater appreciation for music in children, or hidden talents among community members, or entertainment opportunities the community may not realize it has? Note the storylines and the kind of tone and style and idea the various reporters use and get familiar the ones who seem to fit your area best. Get to know them by offering up shares and comments of their pieces on Twitter, while tagging their names. When you have an idea you think is fitting, send them an email or Tweet. Think value add. Before making a single pitch, train yourself to let go of self-interest and think purely about the aspects of your story that would be interesting and helpful to readers. Too many reporters are plied day after day with requests of “I started out homeless and now I own a company! I deserve to be profiled!” “How would this be of vital use to our readers?” the reporter will ask (or be thinking). “They should be inspired by what I’ve done,” is a terrible answer. Yes, you may deserve huge credit for what you've accomplished, but promoting you is the last thing a reporter would be willing or wanting to do. Where is a bleeding need you could answer or something really helpful or interesting the reporter’s audience can’t wait to read? This is the approach you should take in devising your pitch. Make you pitch short, sweet and to the point. This is an area where founders may have a giant advantage over PR professionals who tend to write lengthy pitches over wrought with detail, then mass pitch the impersonal (and non-fitting) entreaty to every reporter on the target list they’ve spent hours to define. Make your subject line interesting and specific, such as “Story idea: unusual approaches for creating a one-person business worth $1M or more.” Then quickly offer your idea and note, based on what the reporter has recently written, the reasons you believe the idea may be interesting for them, and offer up the kind of things you can provide them as help. Be sure to offer real help—more background you can send or questions you can answer via email or invite them to get briefly on the phone to provide additional info. Do not close with “can I set up a time for a phone interview with our CEO?” Remember, you are a virtual stranger and under the guise of help should not be giving a work assignment to an already busy and even overworked reporter who has no obligation to take his or her assignments from you. Let the reporter know how to reach you. If the writer doesn’t bite, you can perhaps Tweet to them, once, or can pick up the phone in a day or so to give them a call. Do not, at all costs, adopt the informal protocol among many PR professionals that makes it okay to “circle back” 2-3 more times to re-ask if they’ve considered your pitch. At most, perhaps one Tweet and one attempted phone call is sufficient. If they don’t respond, clearly the idea or timing isn’t right, so move on. Call at a time that’s convenient. While an email pitch is best first thing in the morning or at the end of the afternoon (or perhaps even the evening, when the reporter is away from the crush of dozens of inquiries and noise), a phone call is best timed for late morning, mid-afternoon or the final half hour of the day. Over time you will learn the working style of the various reporters. They will appreciate your mindfulness of these clues, such as “I reserve the final half hour of my day to review voicemails and respond to pitches,” or “We are actually too busy to ever respond to calls. Email is better.” If the reporter doesn’t pick up, leave only one message. And listen to their voicemail. If the reporter doesn’t pick up, listen to their voicemail message in full, as it will often yield valuable clues such as “my beat is now XXX. Coverage of music events is now covered by XXX.” Or they may say “please don’t leave a message on this line as I will not hear it,” or “I am travelling from July 1 – 15th. If this is an emergency, you can text my cellphone at XXX-XXX-XXXX.” If a reporter leaves a cell number, you should absolutely save it, but use it only in the case of an urgent situation in which you are sure they would welcome the text or the use of their cell. If you leave a message, you should leave only one, for the day, and should not attempt to call again every hour. When you speak, be productive. Some PR people I’ve known make a practice of “buttering a reporter up” with small talk when they call. I disagree. Clearly you called because you wanted something. You should do yourself and the reporter the favor of letting the first words out of your mouth let them know what it is—that you’re hoping your story idea may hold merit, and to see if they may agree. If it’s not a fit, what kind of idea would they welcome? Or is there another part of the publication that would be a more ideal fit? After you’ve discussed your idea, if the reporter is in the mood for a catch-up visit, by all means you should chat. At that point, it is clear your interest is genuine, as opposed to an effort to warm them up for an “ask.” Does the publication accept contributed materials? Particularly in the current crush of journalism needs and diminishing resources, perhaps there is an opportunity for you to participate by offering help in the form of a completed column or article. If this is a possibility, listen and read the publication’s guidelines carefully. Study other contributed articles on the site that fared well. Note that you will not see examples of self-promotion. Successful stories will teach a lesson or will have an interesting idea to share. You will be more successful if you are willing to share true information about your struggles (as opposed to only your successes), as it is far more interesting for readers to learn what you did to turn your hardest challenges into an eventual win, or to hear relatable ideas for strategies they could learn from as well. Don’t underestimate the lowly press release. Interestingly, some of the entrepreneurs I’ve encountered who’ve done the best job of getting themselves into stories have failed to complement those activities by publishing press releases as well. Press releases should be written in the same style as a compelling case study article (What happened? Why is it important, and what should we know and do as a result?) Think “evergreen” in developing a release that will be relevant and interesting over many seasons of time. For example, “How to lead like Steve Jobs” would be a far more interesting release than “Please come to our webinar on Wednesday” or “Our VP of Marketing has won a prestigious award.” Press releases, posted on a reliable wire service with both push and pull capability, are an opportunity to receive instant SEO traction in a piece in which you control every word. In the words of my friend Steve Sims, (the author of “Bluefishing: The Art of Making Things Happen”), be interesting. Early in his entrepreneurial career, Sims felt disingenuous when a Florida publication insisted they illustrate his success by having him pose in a tux next to a private plane. He winced at the resulting coverage. Not only did it run entirely contrary to his personal brand (a whiskey drinking biker), but he noted the person he saw in the photo didn’t come across to him as anyone he’d want to know. So he learned early that the press is a giant window of opportunity to be covered, but not unless he could be relevant and truly interesting for reasons such as how he landed his first big contract, or how he landed an illustrious banking position in Hong Kong (and then managed to lose the job within his first two days in the role). Who wouldn't want to know how he came to do multiple projects for Sir Elton John?
If you haven’t yet begun your PR efforts in earnest, these 10 steps will give you a foundation to start. If your first bid for a story doesn’t succeed, as long as you are respecting these principles, you should shore up your courage to try again and again, especially in your earliest stages. Before long, you’ll be achieving press like a pro.
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2b28d7314d7ded2488f2c57d585d60be | https://www.forbes.com/sites/cheryltiu/2014/12/29/madrid-fusion-2015-putting-philippine-cuisine-on-the-global-map/ | Madrid Fusion 2015: Putting Philippine Cuisine on the Global Map | Madrid Fusion 2015: Putting Philippine Cuisine on the Global Map
Madrid Fusion has always been one of the biggest culinary events in the world. Held yearly in the Spanish capital, it’s part conference and part trade show, where some of the world’s top chefs showcase new, cutting edge and avant-garde techniques, ingredients and recipes to create a different experience in food and dining. It has been described as “where chefs go to see the future.”
Madrid Fusion has always been a venue for the most influential chefs to share their techniques,... [+] recipes and ingredients, like the Roca brothers of the three Michelin starred and #2 in the World's 50 Best Restaurants, El Cellar de Can Roca (Photo courtesy of vererma.com)
Now on its 13th year, for the first time, it will be coming to Asia, in the Philippine capital of Manila from April 24 to 26, 2015. Why the Philippines? The event seeks to be a commemoration of the 370 years of common history between Spain and the Philippines—“a long period of cohabitation that has left its mark in Philippine cuisine and other diverse cultural manifestations of the country."
Madrid Fusión–Manila, organized by the Philippines’ Department of Tourism (DOT) and Spain’s Foro de Debate, S.L. and Arum Estrategias Internacionalización (Arum), will take place at the SMX Convention Center. It will have two major components. The Gastronomy Congress will include cooking demonstrations and food tasting, while the Trade Exhibition will feature table accessories and culinary equipment. There will also be a Festival of the Philippines, where for an entire month participating restaurants and hotels will be hosting celebrity chefs and mounting cultural events, food tours, tastings, roving food trucks, bar crawls for the entire month of April.
Eight Spanish chefs will be flying into the country for this occasion: Andoni Aduriz (Mugaritz), Elena Arzak (Arzak), Quique Dacosta (Alicante), Ramón Freixa (Ramón Freixa Madrid), Francis Paniego (Echaurren, El Portal de Echaurren), Paco Roncero (La Terraza del Casino), Mario Sandoval (Coque), Paco Torreblanca (Torreblanca Bombonerias y Pastelerias).
Andoni Aduriz, Elena Arzak, Quique Dacosta, Ramon Freixa (Photos courtesy of Madrid Fusion Manila)
Francis Paniego, Paco Roncero, Mario Sandoval, Paco Torreblanca (Photos courtesy of Madrid Fusion... [+] Manila)
Taiwanese chef Andre Chiang (Restaurant Andre and Burnt Ends in Singapore; Raw in Taiwan and Porte 12 in France) has also just confirmed his participation. "Demon Chef" Alvin Leung (Bo Innovation in Hong Kong) will also be in attendance.
Andre Chiang (Photo courtesy of Restaurant Andre)
From the Philippines, 10 chefs will be presenting Filipino cuisine on a global stage. They will be educating participants—fellow chefs, media and other food lovers—about the country’s food, culture and history. They are: Fernando Aracama (Aracama), Margarita Forés (Cibo, Grace Park, Lusso), J Gamboa (Milky Way, Azuthai, Cirkulo and Tsukiji), Jose Luis Gonzalez (Vask, Gallery Vask, Arrozeria), Pepe Lopez (Rambla), Rob Pengson (The Goose Station), Bruce Ricketts (Mecha Uma), Myrna Segismundo (Restaurant 9501), Claude Tayag (Bale Dutung) and Juan Carlos de Terry (Terry’s).
Fern Aracama, Margarita Fores, J Gamboa, Jose Luis Gonzalez, Pepe Lopez (Photo courtesy of Madrid... [+] Fusion Manila)
Rob Pengson, Bruce Ricketts, Myrna Segismundo, Claude Tayag, JC de Terry (Photo courtesy of Madrid... [+] Fusion Manila)
One of the topics that guests can expect at Madrid Fusion-Manila is the binulo—or cooking with bamboos culms—a traditional process of cooking food used by the Aetas. This will be conducted by Gallery Vask’s Jose Luis Gonzalez who spent some time with the indigenous group in northern Luzon. “They taught me how to cook kalibangbang leaves in bamboo, which is what they use to add the sour taste in Filipino dishes like the sinigang,” he explains. “It’s a beautiful story to tell where we can really showcase the purity of the Philippines.”
Guests at Madrid Fusion-Manila 2015 can expect to learn more about the binulo technique-- or cooking... [+] with bamboos. Here is a dish by Gallery Vask's Chef Jose Luis Gonzalez featuring the native kalibangbang leaf, which is often used to give the sour taste to the popular Filipino soup, sinigang, when cooked in this manner. (Photo courtesy of Gallery Vask)
“Madrid Fusion is one of the world’s most important culinary events because it brings together the brightest minds in the culinary world and provides a platform to showcase the latest trends and techniques for top chefs,” shares Singapore-based Evelyn Chen, Regional Academy Chair for South East Asia at The World's 50 Best and Asia's 50 Best Restaurants, “Now, it is coming to Asia, specifically Manila, for the first time. It’s an exciting time for Asia and even more thrilling for Manila which looks set to draw more foodie tourists. The move underscores the importance of Asia in the culinary world and indicates that more and more great chefs are looking to Asia as a source of inspiration and exchange.”
The chefs in the Philippines are likewise very excited. “It’s not just about new techniques anymore,” says Gonzalez. “It’s about sourcing ingredients that speak about the purity and natural abundance of the Philippines. For example, I think the [local lime] calamansi—which has an aroma and complexity in between a mandarin and a lime—can be used in kitchens around the world in two to three years.” Adds Forés, “The most remarkable thing is for Madrid to do it in Manila. It says a lot about where our cuisine is going, and where our country is going worldwide.”
SCHEDULE OF MADRID FUSION MANILA 2015 EVENTS:
Madrid Fusion Manila • April 24-26 • SMX CONVENTION CENTER
FRIDAY, APRIL 24
10 a.m. – 10:30 a.m.— Welcome remarks by Tourism Secretary Ramon J. Jimenez Jr.
10:30 a.m. – 11:30 a.m.— Spain: Center and Origin of Modern Occidental Cuisine by Juan Carlos de Terry (Terry´s Bistro-Philippines)
11:30 a.m. – 12:30 p.m. — A Thousand Faces of Rice by Quique Dacosta (Quique Dacosta –Spain)
12:30 p.m. – 1:30 p.m. — Base Ingredient: Sour Fruits by Fernando Aracama (Aracama - Philippines)
1:30 p.m. – 3:30 p.m. — Lunch
3:30 p.m. – 4:30 p.m. — Creativity, a cuisine open to the world by Elena Arzak (Arzak-Spain)
4:30 p.m. – 5:30 p.m. — Coconut, The Tree of Life by Myrna Segismundo (9501-Philippines)
5:30 p.m. – 6:30 p.m. — Textures of Olive Oil, Traditional and Avant-Garde by Paco Roncero (La Terraza del Casino-Spain)
6:30 p.m. – 7:30 p.m. — Tapas made in Spain: Cuisine in Miniature by Ramón Freixa (Ramón Freixa –Spain)
SATURDAY, APRIL 25
10:30 a.m. - 11:30 a.m. — Philippine Adobos by Claude Tayag (Bale Dutung-Philippines)
11:30 a.m. – 12:30 p.m. — Spanish Marinades and Offal of the 21st century by Francis Paniego – (Echaurren - Spain)
12:30 p.m. – 1:30 p.m. — Local Seasonal Ingredients by Bruce Ricketts (Mecha Uma-Philippines)
1:30 p.m. – 3:30 p.m. — Lunch
3:30 p.m. – 4:30 p.m. — What Gives Life by Margarita Forés – (Grace Park-Philippines)
4:30 p.m. – 5:30 p.m. — Open Creativity by Andoni Luis Aduriz - (Mugaritz-Spain)
5:30 p.m. – 6:30 p.m. — Mom, I want to be a “Churrero” when I Grow Up by Pepe López (Rambla-Philippines)
6:30 p.m. – 7:30 p.m. — Juices, Creativity and Fermentation by André Chiang (André -Singapore)
SUNDAY, APRIL 26
10:30 a.m. – 11:30 a.m. — The New Filipiniana Cuisine by Rob Pengson (The Goose Station-Philippines)
11:30 a. m. – 12:30 p.m. — The Science of Roasts, Modern Culinary Rituals by Mario Sandoval (Coque -Spain)
12:30 p.m. – 1:30 p.m. — Rediscovery and Reverence by José Luis Gonzalez (Gallery Vask-Philippines)
1:30 p.m. – 3:30 p.m. — Lunch
3:30 p.m. – 4:30 p.m. — It’s Fun to Cook “Xtreme Filipino” by Alvin Leung Jr. (Bo Innovation-Hong Kong)
4:30 p.m. – 5:30 p.m. — Sweet World, Happy Ending by Paco Torreblanca (Bombonerías Torreblanca - Spain)
5:30 p.m. – 6:30 p.m. — Nose-To-Tail Eating in the Filipino-Spanish Menu by J. Gamboa (Milky Way-Philippines)
6:30 p.m. – 7:30 p.m. — Closing Ceremonies
For more information, visit the Madrid Fusion Manila website.
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8cb18fc70a1b90f1643e5b2def2d4f11 | https://www.forbes.com/sites/cherylwinokurmunk/2020/07/01/bored-at-home-take-free-online-financial-classes/ | Bored At Home? Take Free Online Financial Classes | Bored At Home? Take Free Online Financial Classes
As the pandemic rages, consider free online financial courses. Getty
With millions out of work and craving activity, why not take advantage of free online courses designed to boost financial literacy?
A recent Forbes article highlighted several free digital resources for people of all ages to explore financial topics.
In addition to those resources, here are some options for online classes that are generally self-paced and can give you insight on a host of topics to improve your financial literacy. There are many online offerings choose from—these sites are only a sampling. The trick is to keep browsing around until you find the course or courses that interest you. And one word of caution: some sites offer a combination of free and paid courses, so just pay attention to what you’re signing up for.
One option to investigate is Alison, which offers an array of free financial class options. Enter your search terms or browse by category to find selections of interest. There are classes on financial literacy class, debt management, house-price negotiation techniques and more.
Another platform to check out is Clever Girl Finance. Topics include savings, organizing your finances, budgeting and building good credit.
Coursera also offers a selection of one financial planning and financial management courses, many of which can be taken for free. Browse around on the site to find a class that interests you. As a starting point, you could plug in the search term “personal finance” to see a few potential options.
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edX is another platform to explore for a selection of free online financial classes. Browse the online catalog to find options that suit your needs. You might start by entering the search term “finance” and clicking the “Available now” option within the Availability tab. You can also filter by program type, level and language, among other things.
Interactive Brokers IBKR offers several dozen free online, on-demand courses in its Traders' Academy. There are beginner, intermediate and advanced courses. Topics include stocks, bonds, exchange-traded funds, mutual funds, taxes and retirement, securities lending and borrowing and more.
Many people are familiar with Khan Academy as a supplement for their children’s education, but they may not realize the online site also offers free courses on economics and finance as well as as personal finance topics including saving and budgeting, interest and debt, paying for college and more.
Skillshare also offers free online classes in areas that include accounting, bitcoin, business, and investing. You can enter specific search terms or simply browse around. Just be sure to filter for free course offerings, unless you are willing to pay.
Beyond these platforms, several universities including Harvard, MIT and Yale provide open access to a selection of free courses, including some on financial-related topics.
Happy browsing!
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ce759e8c4ec5efa2d75755f4faae54c5 | https://www.forbes.com/sites/chetwade/2019/11/18/fedex-ceo-to-the-new-york-times-lets-take-this-outside/ | FedEx CEO To The New York Times: Let’s Take This Outside | FedEx CEO To The New York Times: Let’s Take This Outside
KRAKOW, POLAND - 2019/01/14: In this photo illustration, the FedEx logo is seen displayed on an ... [+] Android mobile phone. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images) LightRocket via Getty Images
FedEx Chairman and CEO Fred Smith is breaking one of the cardinal rules of public relations: Never get into an argument with someone who buys ink by the barrel.
Is it a rule that is made to be broken – at least this time? Or will Smith and FedEx find themselves washed over by more and more barrels of ink? Based on the initial reaction, it is likely to be the latter.
On Sunday, The New York Times published a story saying FedEx cut its federal tax bill from $1.5 billion in 2017 to zero (actually, less than zero) in 2018 thanks to tax cuts championed last year by President Trump. The article went on to say that rather than the increased investment promised by FedEx and other companies, much of the benefit from the tax cuts went to shareholders in the form of increased dividends and stock buybacks.
Smith and FedEx fired off a missive on Monday morning saying the story was “a deliberate distortion of our company’s actions before and after tax reform.” FedEx, in fact, did pay federal income tax in fiscal 2018, and invested “billions in capital items” following the tax change, gave employees raises and contributed to the pension fund.
FedEx statement on The New York Times article. FedEx
It was the Times that is not paying so much in taxes, Smith said. He concluded by challenging Times publisher A.G. Sulzberger and the “business section editor” to a public debate in Washington, D.C. with himself and the FedEx corporate vice president of tax. The topic is to be federal tax policy and the “relative societal benefits of business investments and the enormous intended benefits to the United States economy, especially lower and middle class wage earners.[sic]”
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Smith is not used to losing fights or money. A 75-year-old former Marine pilot who served in Vietnam, he reportedly came up with the idea of what is now FedEx while he was an undergrad at Yale. He is No. 207 on the Forbes list of richest people with a net worth estimated at $3.7 billion.
WASHINGTON, DC - FEBRUARY 01: FedEx Corporation Chairman, President and CEO Frederick Smith ... [+] testifies before the House Transportation and Infrastructure Committee about how infrastructure affects his business during a hearing in the Rayburn House Office Building on Capitol Hill February 1, 2017 in Washington, DC. Witnesses testified that deteriorating roads, railways, canals and other infrastructure has negatively impacted their industries and their ability to stay competative. (Photo by Chip Somodevilla/Getty Images) 2017 Getty Images
Smith is one tough, smart and interesting cookie. And, this time he is in for a fight.
First, it is The Times. Few entities buy as much “ink by the barrel,” although today’s reach is measured by much more than the print edition. Their initial public response was a shrug.
“FedEx’s colorful response does not challenge a single fact in our story. We’re confident in the accuracy of our reporting,” Times spokeswoman Danielle Rhoades Ha said in an email to media outlets. “FedEx’s invitation is clearly a stunt and an effort to distract from the findings of our story.”
The people at the Times are people. Does this cause them to do more digging? Will competitors and others see an opportunity to pile on by giving salacious tips about FedEx to other news outlets? Not impossible.
Next, the crux of the FedEx argument hinges on the understanding of accounting rules. This comes from their statement:
“The accelerated depreciation deductions are only temporary with higher depreciation and lower taxes early in the life of a new capital asset. This is then offset by lower depreciation and higher taxes later in that asset’s life.”
True, but run that by anyone who isn’t an accountant and their eyes may start to glaze over. What most people remember is FedEx paid no federal income tax last year.
The question the Times posed was, did FedEx invest more in the U.S. after the tax cuts than it would have without the tax cuts?
NEWARK, NJ - DECEMBER 16: Workers prepare to offload an incoming FedEx plane at a FedEx global hub, ... [+] one of only seven in the U.S., on December 16, 2014 in Newark, New Jersey. FedEx is expecting their busiest holiday season ever this year, with an estimated 290 million packages projected to be delievered between Thanksgiving and Christmas Eve. (Photo by Andrew Burton/Getty Images) 2014 Getty Images
FedEx doesn’t really say. It talks about “the $6 billion of capital that FedEx invested in the U.S. economy” in 2018 and “the $3 billion to significantly expand and modernize our Memphis and Indianapolis hubs through 2025.” Would they have done that anyway?
The other thing the FedEx/Smith statement brought was even more attention to the story – and other stories about FedEx. Web searches of FedEx spiked because of the spat.
By Monday afternoon, there were 8.2 million Google search results for “FedEx,” “New York Times” and “taxes.” Most of them since the FedEx/Smith response. Now, more people are reading about the Times’ findings in other publications than in the Times.
And, that is not the only FedEx story that received increased attention. Those looking only under the term “FedEx” also saw high in the search results, “‘I’m not sure FedEx is going above and beyond’ after Memphis hub death, attorney says” and “FEDEX GUY CAUGHT ON CAMERA THROWING A $1,500 LENS INSTEAD OF WALKING 10 FEET.”
Not the kind of publicity FedEx wants.
Standing up for oneself when you are wronged is a good thing. It’s also good to remember that rules were usually made for a reason.
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2a5970d703e1d63fa66ebfcaf086e542 | https://www.forbes.com/sites/chicceo/2013/05/27/how-to-resolve-conflict-like-a-pro/ | How To Resolve Conflict Like A Pro | How To Resolve Conflict Like A Pro
Conflict is inevitable whether you are running your own business or working for someone else. However, how you handle the conflict could be the difference between running a successful organization or getting run down by bad blood. I recently had the opportunity to ask an expert a few questions and wanted to share the feedback so you can apply it to your own situations.
Sondra R. Levine is a licensed attorney and a member of the bar in the states of California, Minnesota, and the District of Columbia. Sondra has experience litigating both single plaintiff and class-action lawsuits, and has handled a wide variety of disputes involving claims of product liability, breach of contract, unfair or unlawful business practices, professional negligence, and labor and employment claims. Sondra has been recognized and honored by her peers for her contributions and achievements.
Sondra received her Bachelor of Arts and Juris Doctor Degree from the University of San Diego. Sondra has also completed extensive training focusing on mediation and negotiation, including specific training on: conflict theory, negotiation, dynamics of the mediation process, the role of culture and gender in mediation and negotiations, managing party interaction, law and ethics of mediation, impasse strategies, philosophies of mediation, mediator styles, and the role of the mediator. Sondra has experience mediating disputes arising from landlord/tenant claims, merchant/consumer disputes, business disputes and dissolution, marital dissolution, breach of contract claims, personal injury matters, professional negligence, and employment claims.
Sondra is a frequent author and presenter on various legal issues. She has published articles in the Journal of Contemporary Legal Issues and the San Diego Daily Transcript, and has presented seminars on conflict resolution in the workplace at events such as the San Diego Society of Human Resource Management Law Day Conference. Sondra also conducts training for community organizations, businesses, and human resource professionals in conflict resolution and mediation skills, and conducts AB 1825 sexual harassment and discrimination training.
JG: What is the best way to deal with an employee or contractor who is not performing their duties up to par?
SL: Although the advice varies depending on who is having the conversation (i.e. a business owner with a contractor, a human resource manager with an employee, etc..) there are some principles that remain constant. The most successful methods for resolving conflict are: discussion and open communication. Avoidance will not resolve the conflict; at best, it will only delay conflict. An unresolved conflict festers underneath the surface and will bubble right back to the surface whenever enabled, and will also reappear always at the worst possible moment. For these reasons it’s best to address problems quickly and directly.
When dealing with an employee situation or a vendor/contractor relationship presumably the relationship is going to continue, therefore it’s extremely important for the employee and/or contractor to walk away from the conversation feeling like they were treated fairly and believing that they were heard, regardless of the outcome or the resolution reached. For this reason, I usually state the problem or scenario from which the conversation arises, and then take a learning approach to start these conversations by which I can explore the employee/contractor’s standpoint or perception of the situation. After listening without interruption (regardless of whether I agree with their perception of events), I usually paraphrase or summarize what I’ve heard to make sure that (1) I have an accurate understanding of where they are coming from and (2) they know that I’ve heard them. This then allows me to share my perspective of the problem without interruption and sets an informal set of rules for the structure of the conversation (civility, respect, etc…). This open discussion also reduces misinformation and misunderstandings. If it is appropriate, I might then ask the employee/contractor if they have any thoughts for how the situation might be resolved (i.e. is this something that could be addressed with some additional training, would a sit down with other parties involved be appropriate, etc…) being careful not to criticize any solution offered but use the situation as a brainstorming session to explore the range of solutions.
During this part of the conversation, I may ask questions to test the feasibility of the solutions proposed. It’s important to stick to facts and keep the discussion moving forward toward a resolution as opposed to rehashing old information on how the problem arose. Ideally, after some discussion you and the employee/contractor can agree on a course of action to resolve the problem and prevent future issues. It’s usually best to memorialize the solution in writing, although it does not need to be elaborate. Sometimes it may be appropriate to set a timeline for follow up to look at how things are going and if any modifications and/or changes to your plan need to be made.
JG: What is the best way to let a customer know that you'd like to part ways?
SL: In this situation is it important to prepare in advance and know exactly what it is you want to say. Begin the conversation with the end in mind-know where you are going and how you plan to get there so that you do not get sidetracked. Doing so will ensure that you don’t allow yourself to get caught up in the emotions of the conversation or talked into trying to “work it out”. You may also want to have an outline or some notes to keep you on track. One of the keys to managing difficult conversations is control. You need to control the meeting and how it progresses.
It is also important to stay neutral and remain calm no matter what the customer says. Avoid engaging in an emotionally heated discussion over whose fault the problem is. Since the goal is to end the relationship, there is no point in hashing out "the why" or discussing whose fault it is-you don’t intend to remedy the situation or continue the relationship so it really doesn’t matter. Stick to the facts. Be brief and be clear. State clearly to the customer the fact that you are severing the relationship, and if there are steps that need to be taken to “unwind” the relationship or finish up a project, lay out the next steps and the timeline for each. A best practice is: at the conclusion of your conversation, send a follow up correspondence (letter, email etc…) confirming the termination of the relationship, the next steps, and time timeline for concluding the relationship.
JG: How can you avoid a heated debate when you and your business partner do not agree?
SL: Conflict cannot be completely avoided but it can be mitigated. The key is to start early and be consistent in having open communications with your partner. When a problem does arise do not avoid it; instead engage in a discussion of the problem and work to learn the basis of each party’s position so that a solution can be crafted. A thorough discussion of the problem clears the air and helps to avoid misunderstandings so don’t attempt to minimize the problem, after all if the issue wasn’t complicated you wouldn’t be in the situation of having this difficult discussion.
Prepare, prepare, prepare. In advance of the discussion with your partner, analyze what the problem is and what points you want to make. You should also think about what your partner is likely to say and think about some solutions you can propose to reach a resolution. As you discuss the problem with your partner, additional solutions may come to mind and you can explore the viability of each as you discuss each other’s points and positions.
Practice the conversation in your head (or even out loud) in advance. Preparation will give you confidence and keep you from slipping into old habits of ineffective communications. It also helps to keep the goal in mind. In these repeat negotiation scenarios it isn’t about winning or losing, it’s about finding a solution everyone can live with. It is especially important to make the other party believe they got the best deal they could under the circumstances. If you turn it into a winner take all or zero-sum negotiation both sides are likely to become entrenched in their positions and close their minds to the full realm of possible solutions.
Finally, remember these basics (discussed above): be clear and concise in the message you want to convey, use neutral, controlled language, and stay calm keeping the emotions out of the discussion.
Jody Greene is the CMO and co-owner of Chic CEO – a free resource for female entrepreneurs. You can follow her and Chic CEO on twitter at @ChicCEO.
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0fe087ccf97e632b393cba9f66f78844 | https://www.forbes.com/sites/chicceo/2014/05/14/brands-are-like-people/ | Brands Are Like People | Brands Are Like People
3 Ways To Give Your Brand Personality
Recently I was at a conference and was fortunate enough to spend a session with Charlotte Beers, former CEO of Ogilvy & Mather. Fascinating woman, she said something about branding that I will never forget.
“A brand is created when a company EARNS the right to have a relationship with their customer.”
There are millions of people walking around, there are millions of businesses to choose from – however both of them must earn the right to have a relationship with you. In order to make an impression or capture mindshare, a relationship has to be created but permission has to be given.
Creating a brand isn’t an easy task – in fact – it’s as complex and exhilarating as having an actual relationship with another person.
After spending 5 years working for a branding agency, it was natural for me to move into creating a brand for my company, Chic CEO. I’ve always thought of branding as the personality of your business – the nuances, the quirks, the cool. Now I look at it as a marriage between a personality (the initial attraction) and creating a relationship (what keeps us in love).
We must infuse humanity into our businesses if we want to create a relationship. A brand must live and breathe on it’s own, and in order to do that – you must give it life. I’ve outlined 3 ways to help you breathe life into your business that put you on the path to creating a memorable brand.
1) People aren’t perfect, your brand isn’t either.
No one can relate to a perfect person. Just like no one can relate to a perfect brand. It’s unattainable, it’s ethereal, it’s no fun.
Today’s consumers crave transparency and nothing is more transparent than being yourself, flaws and all. Let your brand have some short-comings, some flaws, it can’t be all things to all people – but if your brand is real and honest, you can’t help but have brand evangelists.
Fast connection happens in “me too” moments. No one can have a “me too” moment with someone who is perfect (or let’s be honest, pretending to be perfect). Let your brand have some “me too’s” with your customer and watch the magic of connection. Having a bad day? Me too! Have a dog? Me too! Have an issue biting your nails? Me too! Your brand can have all of these things.
2) Lust is fun, love is forever.
It’s easy to attract a new lover – but it’s not so easy to get them to stick around. If your brand has been working out, got a new haircut and a spray tan – watch out! – you might get some customers. However, if your brand belches at dinner and forgets your birthday, love may not be in your future.
Creating a brand goes way beyond the fancy website and cool office. Your brand should be smart, relevant, creative, thoughtful, helpful and a myriad of other things that make people fall in love. You customer wants to be courted like the lady she is.
3) Create tradition.
Most great relationships have some tradition tied to them. Anniversaries, first dates, first kiss, etc. Traditions are ways to facilitate a bond between two people. Your brand can create tradition with customers too. At Chic CEO, we don’t high-five, we high-five million. Every time we chat with someone in our community, we give them a high-five million and now they are high five-millioning each other. Victoria Secret has the semi-annual sale. Sure it’s a sale, but it’s really a tradition for women to go out and purchase an obscene amount of undergarments with their friends.
Your business can incorporate the power of tradition in creating a relationship. Big or small, it doesn’t really matter – it works.
When treating your brand like it’s a person, it’s easy to pull out the small nuances that will create quick connection. You will begin to identify what attracts people to your brand and then build upon what makes them fall in love with you.
Creating a brand equals creating a relationship. Onward!
Stephanie Burns is an author, speaker and founder of Chic CEO - a free resource for female entrepreneurs looking to start a business. You can follow her on Twitter at @StephanieABurns or Chic CEO at @ChicCEO.
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eca5714b376bc6a0f2349a3159d33513 | https://www.forbes.com/sites/chicceo/2015/06/29/the-cannabusiness-oracle-starlight-mundy/?sh=11b5570072e6 | The Cannabusiness Oracle: Starlight Mundy | The Cannabusiness Oracle: Starlight Mundy
Cannabusiness. It's a complete sentence.
With all of the new state regulations, federal pushback and general widespread recreational and medicinal use - cannabis has never been more in the spotlight. Legalization is imminent and with that come new businesses ventures and a lot of uncertainty. Technology and ancillary businesses are starting to gear up for this explosion of opportunity, which is exciting to see. It's definitely a wild west landscape right now so I caught up with the woman who is determined to harness it.
Starlight Mundy, founder of Craft Mary Jane is a thought leader, writer, trend-spotter and speaker on the topic of cannabusiness and I was really excited to talk with her about this market and what she sees for its future. Starlight is determined to bring insight, innovation and clarity to entrepreneurs and existing businesses looking to make a leap forward in the cannabis arena.
Tell us about Craft Mary Jane.
Well, I started Craft Mary Jane because I believe that craft cannabis is the next craft industry, like craft beer. Marijuana is such a new landscape I realized it would take a significant amount of momentum to get the compass to point towards treating cannabis like an artisan craft - so I started Craft Mary Jane. Our goal is two-fold. First, we help build cannabis businesses who align with craft values to create cannabis brands that bloom with passionate consumers. Second, we want to create local communities of craft cannabusinesses who will thrive despite the inevitable wave of competition due to arrive after legalization.
While I was researching the newly legalized cannabis industry I realized that there was an opportunity to start my own company. I was trying to figure out where cannabusiness was headed after the tumult of legalization levels out. I wanted to find a path that would help preserve the community and culture of old-school cannabis, while supporting new players in the industry. I was looking for a solution that took into account the values of conscious consumers; local, sustainable, organic, diverse and dynamic. It didn't take a lot of digging to find examples on how the marijuana industry could emulate other successful models turning cannabis into the next craft industry.
The third reason I started Craft Mary Jane is more self-centered. The truth is I am the type of person who would have trekked across the United States to build a new life in the Wild West during the Gold Rush. Marijuana is the new Green Rush, and this new industry is truly a wild west of golden opportunities. I want to have an impact on how this new industry plays out, and I want to use what I know to help craft the future of cannabis.
Why do you believe the craft beer industry is one to be modeled?
The model of craft beer works particularly well for cannabis first because it is a widely experienced and understood model by most consumers. Second, the trajectory of craft beer has been growing consistently since it's community-rooted beginning in the 70's. Now, it's such a competitive niche that Budweiser went out of their way to disparage craft beer during the 2015 SuperBowl commercials. The irony being that Anheuser-Busch InBev had already acquired craft beer companies in order to maintain a market share. Craft beer has been an exploding industry for the last few years with breweries opening up at a rate of 1.5 per day in 2014.
Adopting a craft model is not a new idea. Oregon State considered the craft regulations for the beer industry when exploring how cannabis would be regulated after legalization was passed in November 2014. There is a similar measure which might be included on the California ballot for 2016 that indicates cannabis should be treated like craft beer. Craft is the future of cannabis, and I believe that we should start working toward that goal now rather than later.
There are reasons craft beer has been so successful; the consumers are passionate, loyal and adventurous enough to explore new products while paying top dollar. The values of the business are reflected by the community in which they reside. Local, sustainable, organic, artisanal quality, diverse offerings and limited quantities are all upsides in an industry where personal preferences reign supreme. Organizationally, the craft beer industry embraces community, with local brewers guilds found in every region of the country. These organizations are made up of smaller businesses that support each other, help influence law making, and share the abundance of their industry while continuing to grow competitively. It's a perfect model to imitate.
There is one critical piece missing - due to the risky nature of cannabis, growers have not grown brand recognition the same way brewers have, and at Craft Mary Jane, we aim to change that. Just like an IPA, nearly anyone can grow one but only a few have perfected it. Northern Lights, OG Kush - those are just strains of marijuana that don't tell me anything about it's quality, how it was grown, or why I would choose it over any other version of the same strain. Once cannabis becomes federally recognized as a legitimate industry, growers will be able to step out from behind the wall of secrecy and be recognized for their craft. We will be there to help them make a smooth transition.
What is the landscape of cannabusiness right now and how do you think it will change in the next 2 years?
Right now, there is a lot of focus on medicinal marijuana. Medical marijuana has kicked open the door of societies mindset about weed, and it is having a profound influence on where the industry is headed. Peoples lives are being changed as a result of the healing compounds found in cannabis. The model of supply and demand have been established with dispensaries at the center of distribution, and the innovations coming from biotech, medical research, alternative methods of cannabis consumption and application, along with technological leaps forward in cultivation.
What will change? I think 60-70% of what we're seeing in cannabis will change in the next 2-5 years. Medical marijuana is legal in 24 states and counting. Full legalization is slated to be on as many as 7 state ballots for the 2016 elections. The cannabis industry is just getting started. Big names and big money are getting into the game in whatever way possible. The Federal Government has lifted restrictions on medical research for cannabis, opening up huge opportunities. Innovations in the industry will come in a series of waves over the next 10 years. The opportunities and future of marijuana are wide open due to the legitimacy of a previously black market business coming of age.
On a more granular level, I think there is a lot of change that will happen in medical marijuana and the newly minted recreational markets. The result of legalized marijuana in Colorado and Washington have created new opportunities that medical marijuana doesn't have a need for. Medical marijuana regulation is changing as a result of scrutiny applied to the full legalization process in states like Oregon and Alaska. Washington State just decided to obliterate its medical program entirely. The dispensary centric model for recreational marijuana use will also be diminished, where retail shops, tours, and smoking clubs take their place as access points for consumers.
The one thing that is true about cannabis business today is that everything could change tomorrow.
What is the biggest trend you see in cannabusiness today?
The biggest trend and momentum around marijuana business right now is explosive growth. Cannabis has become much more than your friends dealer and a head shop. It is creating opportunities in technology, ancillary businesses, agriculture, construction, manufacturing and processing. Celebrity names in cannabis culture have already established personally branded companies. Willie Nelson is patenting his strains of cannabis and is creating a craft cannabis brand. Snoop Dogg has joined many other accredited investors to bring funding to the cannabis industry. Technology is being bolstered with apps like Leafly and WeedMaps, along with business incubators like Canopy Boulder and The ArcView Group. The industry as a whole is organizing to a point where cannabis organizations such as Americans for Safe Access, and Women Grow are lobbying congress on behalf of the industry.
The trend, if you can call it one, is cannabis catching up. Catching up in legitimacy, technology, accessibility, regulation, data, innovation and research. Legalized cannabis has been held back so long, that much of what is normal about other industries are totally new to marijuana. When you start to look at cannabusiness to identify trends, the leaps forward for the industry are so interesting and novel that the industry itself is the business trend.
What is the biggest challenge you see for cannabusiness currently?
Undoubtedly the biggest challenge to cannabusiness right now is the fact that marijuana is still a Schedule 1 Drug. It impacts everything from business banking, paying taxes, and claiming deductions. These businesses are forced to jump through preposterous hoops in order to operate in a legal grey area federally, despite state-level legalization. Most players in the industry are pretty optimistic that this will change in the near future, and once it does, I think the next biggest challenge for the cannabis industry will be the influx of competition.
I say influx because most of the smaller businesses in cannabis have been existing in a fishbowl competitively speaking, and overnight, that will change. The change from federally forbidden to "legitimate business" will have huge impacts on how successful cannabis businesses are defined. Some businesses are ready for this inevitable sea-change. Others will struggle, and a great many may not be able to make the leap.
"Business as usual" will be the most dangerous mindset for the smaller companies who have had great successes despite the government and unusually high risk business environment. This struggle has been illustrated by Washington State as the industry there has floundered in the aftermath of legalization without proper preparation. Legitimacy will mean banking, data collection, thoughtful advertising to adult markets, and operating a business that will have 1000x more competition than the industry has experienced thus far. Sure, cannabis sells itself. But when the risks are lowered, and everyone is getting into the industry, what will ensure success for the current players?
How can someone get involved in cannabusiness?
Most people have this idea that in order to be in cannabis, you either have to work at a headshop, or grow weed. The truth is, every job associated with normal business functions will be in some way or fashion added to the cannabis industry. Lawyers, accountants and real estate agents are the obvious, most pressing needs in cannabis, but over the next few years as the industry further reduces the risks associated with cannabis, everything that exists in other arenas are opportunities for cannabis.
My advice to people who want to find their place in cannabusiness is to start now. The playing field for cannabis will never again be as level as it is right now. Whatever you do or are passionate about, there will be some place for you in the cannabis industry. The key is to start now, begin researching the local laws where you would like to start your business. Find a local networking group, or join an activist organization - right now cannabis is still 98% community. Most of what you will learn and the contacts that you make now will help facilitate meeting face to face with the industry’s leaders. Get a lawyer to advise you on cannabis business because this is uncharted territory, complicated and hard. Start learning about cannabis and how your expertise can be an advantage. Become an expert on what you know on the industry and start doing it. Find someone you can help and help them. Listen to your customers and make sure you're meeting a need. Build that business you've always talked about starting. Make your plan. Start now.
Stephanie Burns is an author, speaker and founder of Chic CEO - a free resource for female entrepreneurs looking to start a business. You can follow her on Twitter at @StephanieABurns or Chic CEO at @ChicCEO.
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2906548d5a81ba053644cd7b135e03c3 | https://www.forbes.com/sites/china/2010/04/22/the-u-s-isnt-encouraging-chinese-investment/ | The U.S. Isn't Encouraging Chinese Investment | The U.S. Isn't Encouraging Chinese Investment
In China the corporate savings rate is over 50%, and the government is pushing for more outbound investment. Assets in the U.S. are at a low point in price cycles. It seems like the perfect time to buy.
The U.S. is by far the world's biggest consumer market; China the world's largest manufacturer. But for all their ability to cut costs, Chinese manufacturers are earning a fraction of the margin that U.S.-based marketers and retailers collect by selling Chinese-made goods. They just don’t know how to run a consumer marketing and retail machine. Given all this, should we expect Chinese capital to be chasing bargains, gaining market access or acheiving better margins?
Nope.
First, China is run top-down; government policy rules. Strategic necessities are the priority: commodities, energy and control of infrastructure. China needs iron ore and unobstructed energy imports a lot more than it needs drop-ship warehouses in Reno. Or cash.
Second, the U.S. is too much work. Media, government and regulatory restrictions can all kill a deal instantly. Worst of all: Chinese investors can't get visas.
It's nothing like the way China has treated Western investors. "Welcome to China, Leave Your Money Here" incentives like investment zones, Western-style housing compounds and a government-run concierge for recruitment, construction, water and power supply. China even grants tax holidays. It's an attractive place to invest.
African, Southeast Asian and Middle Eastern projects may not offer the glamor of an American division, but they roll out the red carpet for the Chinese.
The biggest help to Chinese companies when it comes to investing in the U.S. comes from organizations of their own. For one, the City of Shenzhen helps telecom-equipment maker Huawei, auto company BYD and their Pearl River Delta neighbors with their U.S. objectives.
The Chinese private sector is also working on it. Property giant Vantone is ramping up The China Center in New York City; Chinese i-bankers help find energy deals for their clients from Shandong province.
Otherwise, American business leaders who want to play a role in Chinese inbound investment engage in discussion groups using social media, or join an organization like mine, The China Business Network.
We need to get up to speed so we can get some dollars--and jobs--back. Getting deals packaged and offered properly to attract the money; and then convincing the Chinese to hire smart lawyers and accountants, to talk to the people through the press so there’s back-up when the dragon-slayers attack. It's a sizable cultural gap to span. Especially when a denied visa can send the whole thing into the bin.
Hear that crashing sound, Homeland Security? It' billions of yuan cascading into Australia.
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c53720b935a0ffce550ec96059a7f504 | https://www.forbes.com/sites/china/2010/04/27/how-procter-and-gamble-cultivates-customers-in-china/?sh=9867020470cb | How Procter And Gamble Cultivates Customers In China | How Procter And Gamble Cultivates Customers In China
"We’ve been in China since 1988. We're only in about 14 categories. We lead all of them but one. But the spending per capita in China is only $3 a year on Procter & Gamble products. That compares to the United States, where we are in over 25 categories, and the per capita spending a year is $100."
The above quote is excerpted from a recent interview with Procter & Gamble's CEO, Robert McDonald. McDonald's ambitious plans for P&G call for adding 1 billion new customers over the next five year--that’s 200 million customers each year--or 500,000 new customers EACH DAY for the next five years. The vast majority of these customers will come from emerging markets, especially in China and India.
One of the things that interests me about China's many markets and emerging markets in general is observing Western consumer goods companies take a proven product from overseas and introduce it in an emerging markets with no prior knowledge of the products' use or existence. I’m not talking about "reverse innovation" or "glocalization," I’m talking about taking a product and literally changing consumer behavior to create a market for it.
For example, let’s look at P&G's Pampers disposable diaper brand. P&G had a terrible time launching Pampers in China, because Chinese consumers simply did not see a need for disposable diapers. Between traditional cloth diapers and kaidangku, Chinese mothers felt that they had their babies covered. After P&G did some research to identify the winning qualities of a disposable diaper in China, they put their marketing machine to work:
“Pampers launched the "Golden Sleep" campaign in 2007, which included mass carnivals and in-store campaigns in China's biggest urban areas. A viral campaign on the Pampers Chinese website asked parents to upload photos of their sleeping babies to drive home the study's sleep message. The response was impressive: 200,000 photos, which P&G used to create a 660-square-meter photomontage at a retail store in Shanghai. The ad campaign boasted 'scientific' results, such as "Baby Sleeps with 50% Less Disruption' and 'Baby Falls Asleep 30% Faster.'"
Pampers now ranks No. 1 in a product category that barely existed just a few years ago.
Campbell's Soup is another great example--with a slightly different twist. While Chinese are already big-time soup drinkers, the majority of soup is homemade. The challenge for Campbell's is to take existing soup consumer habits and prove that their canned soup is better-tasting, more convenient to consume and more cost-effective.
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04b4ddf46fdffbeebe8b2b26f0451572 | https://www.forbes.com/sites/china/2010/05/04/why-im-a-sinocentric-schizophrenic/ | Why I'm A Sinocentric Schizophrenic | Why I'm A Sinocentric Schizophrenic
When Forbes' Beijing Bureau Chief Gady Epstein wrote earlier this year about the climate for foreign business in China, he imagined a conversation between two businessmen in Beijing--one a Dragon Slayer and the other a Panda Hugger. Their hypothetical two-sided banter sounds like a debate I have in my own head every day.
It was easy to see a mutually beneficial pattern for commerce between China and the U.S. in 1985, when I moved to the PRC and started my China-centric career. Now I'm schizophrenic, pretty much 24/7.
The hugger in me is reading a review copy of Clyde Prestowitz's "The Betrayal of American Prosperity" --a brutal blow-by-blow of why American economic viability is over.
My slayer is reading Jim Chanos, wondering if China's collapse will in fact come quickly and once again create much-needed space for mutual benefit.
The hugger says the U.S. can still increase our relevance vis-a-vis China. The slayer asks, "How?" All I can answer, from my lowly place as an economic actor, is: We have services! Rigor in our processes! Real estate! Liberal arts education! We have tourism assets! We'll get some capital and cash flow; the Chinese will respect us more, again.
Tomorrow I have my semi-annual catch-up with a Chinese friend who runs a small--but 100% tech-focused and therefore intriguing--sovereign wealth fund. He's been looking for two years for "good deals in the USA" that he can present to the government ministry that oversees his fund. He's finding almost everything that's a good deal falls into the "dual use" category, which means it has a conceivable military application--and he doesn't want to be trailed by the FBI.
So he keeps investing in places like Korea. I wish I could help him more. But I am of two minds. If military technology is our last real advantage--besides real estate, clean air, tourism and education--maybe we're better off telling him there are no good deals.
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cad48acdbb51e8f2d7ab79b282a8134d | https://www.forbes.com/sites/china/2010/05/06/for-apple-the-best-china-strategy-was-not-having-one/ | For Apple, The Best China Strategy Was Not Having One | For Apple, The Best China Strategy Was Not Having One
For a long time, Apple has had a small presence in China. Windows has long been the dominant platform, and the number of Apple computers is relatively small since most Chinese considered it to be expensive and the number of applications available limited.
This has now changed.
It started with the launch of the iPhone. When it was first released in June 2007, it was seen as yet another over-priced product from Apple. Furthermore, when the first version of the iPhone came to China, there was no official Chinese distributor for the product. In spite of this, it became more frequently seen in the trendy parts of Shanghai and Beijing, and became popular among local Chinese, who now had more disposable income to spend than their parents, and wanted to have a flashy status symbol to show off to their friends. Even though their iPhones were unlocked versions from Hong Kong, and had to be cracked, they were welcomed among many urban Chinese.
For more than two years, China's two leading mobile operators, China Mobile and China Unicom, jockeyed for negotiating position with Apple to become the official iPhone distributor in China. This was unusual: China Mobile is the largest mobile telecom operator in the world (more than 522 million subscribers as of March 2010), and it was not used to NOT having its way in business negotiations with any company.
Except for Apple. With Steve Jobs, they met their match.
For large state-owned enterprises like China Mobile and China Unicom, it is normal for them to ask for special changes and amendments because "China is different from other markets." With any other company, they would get the changes they wanted. China Mobile wanted control over the App Store; Apple said no. And it went on and on.
Eventually, China Unicom, the No. 2 carrier, got the rights to become the official iPhone distributor in China. The only concession Apple made was to take Wifi out of the phones sold in China. But for many Chinese, this is not a problem since it's easy to buy unlocked gray market iPhones with the Wifi feature from Hong Kong in China.
Why was Apple successful in China, whereas its competitors, such as Google have failed? Here are some of the reasons:
Apple is too much like its Chinese counterparties. Power and decision-making are largely in the hands of one person, Steve Jobs. The Chinese are unable to play off the different parties/factions against each other. Several times, deals were nearly announced with Apple by China Mobile, but seemingly at the last moment, the deal fell through and Apple walked away. With any other company on the line, they would have capitulated to last minute Chinese demands or amendments. Apple had a very strong product pipeline, starting with the iPod in 2001, and then the iPhone in 2007. These products were well-designed and received, and with each iteration, the audience widened. Their competition was simply too far behind. Even without China, Apple's bottom line improved with each year. This chart is hard to argue with. Instead of making cheaper products for the Chinese market, Apple chose to wait until Chinese disposable income increased to levels where Chinese consumers could afford Apple's main products. Apple products have snob appeal. Urban Chinese are into rank and status. Many identify more with their contemporaries in Paris, Tokyo, Berlin and New York than they do with their own parents. As the income of the urban Chinese climbed, they were now able to afford Apple products. What better way to differentiate themselves than by becoming Apple users and fans! Mobile phones are ubiquitous in China. Not only are they a communications device, but more and more, they are becoming an entertainment device. The App Store provides an endless assortment of new apps to play with. Most of the time, these new apps are free.
Apple opened its first Apple Store in Beijing only in 2008. It has plans to open 25 more stores in China in the next two years. And now, it has just introduced the iPad, which will attract yet another batch of Chinese Apple fans.
In China, Apple's on a roll.
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b958a0b3426d900e2d53a8dfd25b9684 | https://www.forbes.com/sites/china/2010/05/16/attracting-chinese-investment/ | Attracting Chinese Investment | Attracting Chinese Investment
I have a shiny publication in front of me. Africa Invest magazine, published by the Ministry of Science and Technology; summarizes the China Exhibition in Cairo in November, promotes the Africa Invest Internet Club, lists Chinese companies in energy, telecom and health tech, and contains pages and pages of government officials in photo ops.
(On almost every page is Xiu Xiaoping, who runs an annual budget of over half a billion dollars for China’s biggest incubator system, called the Torch program.) I can’t tell you exactly how many deals were made, and for how much, but of this I am certain: a lot is happening, and the money is flowing.
In two ways, watching China’s money move is a bit like looking at an iceberg. First, because the money does tend to group itself into giant piles, which break off and float away--to Africa, Southeast Asia, Brazil, the gas-rich, geostrategic '-stans--and, very occasionally, to the northern hemisphere. Second, because everything that really happens is more or less invisible.
Understanding the opaque calculus of how China sees the U.S. in relation to its money is a skill that every American business person might consider investing in. For the simple reason that as the economic center of the world continues to shift eastward and southward, we’re going to have a work a bit harder to stay relevant.
Back to the iceberg: I have an analytic to understand Chinese behavior, which I call “The 8 Value Contrasts between China and the USA.” (The Unit of Society, the Domain of Scarcity, the Practice of Heroism, the Resolution of Conflict, the Containment of Risk, the Origin of Wealth, the Framework of Trust and the Existence of Absolutes.) As far as understanding China’s ODI goes, let’s look at the origin of wealth.
Western concept: Bottom-up entrepreneurship. Idea and execution unified, then publicized by external communication and mass media.
Chinese concept: Top down industrial policy. Vision and strategy separate from execution. Announcement of plan by the center, response and execution by business and the people. Internal coordination, minimal external communication.
Bottom line: the Chinese are horrible at all external communication except propaganda. Propaganda is an exercise where the center exhorts its vision. Communication, in the western definition, ties vision, strategy and proof-points of execution together. Propaganda is an instruction to be responded to. Communication is an idea seeking buy-ins.
Americans create wealth by selling--mostly ideas and stories--because our business leaders had to start from scratch. Chinese investors aren’t used to selling their ideas. They aren’t even used to being sold so much as instructed or led. So one way to attract a little iceberg: stop selling an idea. Instead, have a plan--backed by government and academics ideally. Then, issue instructions that can be followed. Lead the way, and support.
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5bbccb5b48af5486fe30500ba370eb54 | https://www.forbes.com/sites/china/2010/06/17/why-china-isnt-at-the-world-cup/ | Why China Isn't At The World Cup | Why China Isn't At The World Cup
Representing the Asia-Pacific region of FIFA, the world soccer association, under the auspices of the Asian Football Confederation (with 46 member nations) at the 2010 South Africa World Cup venue are four teams: Australia, South Korea, North Korea and Japan.
Missing are two giant Asian nations: India and the People’s Republic of China.
Tiny Honduras qualified for the World Cup; this Central American country has a total population of barely 8 million. Harbin, a provincial city in northeastern China, has a larger population.
Forbes has written about why Chinese soccer teams stink. Still, why couldn’t China, with a population of 1.3 billion and the financial, engineering and technological resources to “make” the 2008 Olympics “happen”? Why couldn't the world’s third-largest economy was the winner of 51 Olympics gold medals at the Beijing Olympics (second-place U.S. had 36 gold medals) field just 11 quick-on-their-feet men to win a series of qualifying matches over the likes of Qatar or Indonesia and then fly to South Africa this June and do battle with Brazil or Germany?
Even ordinary Chinese sensed there was something lacking with the entire national soccer program when the Chinese soccer team qualified for its one and only World Cup appearance in 2002, and then failed to score one goal in three games.
From the 1949 Communist triumph to the late 1970s when Chinese sports teams appeared again at international events, soccer was not played at all in China. To the Chinese leadership, there were other priorities, like education, agriculture, heavy industry development, eradication of diseases, sanitation. Yet, sports were not altogether neglected: trainers, facilities and travel funds were amply provided by the Chinese government for sports like table tennis and gymnastics (both top individual and not team sports, interestingly) where the Chinese excelled.
And Chinese professional soccer does exist. For the past decade, the Chinese Super League has fielded 16 teams (Bejing Guoan is the 2009 champion) throughout China, from Dalian to Shenzhen. Ironically, two members of the Honduran World Cup team play for the Hangzhou Greentown professional team. Another Honduran (salaries are relatively high for Super League players) and an Argentine player were the top scorers, with 17 goals apiece, for the 2009 Chinese Super League season.
One must also factor in that soccer is probably the most televised sport in China, although basketball, especially with Chinese stars in foreign leagues, has exploded in programming during the past decade. The Chinese Super League games dominate CCTV-5 (Sports Channel) and Chinese TV channels also show an extensive selection of top foreign soccer matches, including the UEFA Championship League, English Premier League, Italian Serie A and German Bundesliga.
Chinese also download quite a few pirated Internet programs, so there is high interest in global soccer by Chinese fans. However, young people would probably know more about David Beckham’s injury than about the 2009 second-place winner of the Chinese Super League, Changchun Yatai--and although there was frantic nationalism regarding Chinese athletes at the Beijing Olympics, there is far less enthusiasm showed for Chinese soccer players.
I am reminded by the seriousness (worship?) accorded soccer in other countries--especially when I visited Brazil for the first time. At the Sao Paulo airport immigration line there were TV monitors showing soccer matches and analyses by long, pontificating pundits called "soccer journalists." I am no such soccer expert, so as an amateur, let me review four points often touted as reasons why soccer has not been as successful in China compared to other countries:
Explanation A. Chinese children cannot practice soccer due to lack of money for balls and restricted space in crowded urban centers. Good point if you have tried to walk quickly through Shanghai malls. Yet I have seen Brazilian children practice soccer with a can wrapped in rags in streets filled with parked cars, and the Japanese and Dutch live in very crowded urban areas. In his autobiography, the Brazilian legend Pele recalled he had no money for a ball and instead he played with a sock stuffed with newspaper. Urban Chinese families now enjoy comfortable apartments, a car and vacations to Macau or Thailand--indeed, among ten middle-class Chinese children there would be at least a dozen soccer balls.
My comment: Explanation A is generally false. (The facilities issue will be treated in-depth in the next post.)
Explanation B. Chinese (Asian) physiques are different, and therefore there won’t be good soccer players. Some insular Americans may have said the same about Chinese in the National Basketball Association... before Yao Ming, the successful center of the Houston Rockets, came along. (The first NBA non-white player was “Wat” Misaka – a Japanese-American from the western U.S. state of Utah, who played with the New York Knicks in the 1947 season.) Of “Asian” physical capabilities vis-à-vis soccer, Sergio Echigo, a son of Japanese immigrants to Brazil, became a star player for the Sao Paulo Corinthians soccer club in the early 1960s. My daughter is taller than the Argentine hero Maradona (1.63 meters, 5 ft 4 in) and the great Pele at 1.73 meters (5 ft 8 in) is shorter than me. About a dozen PRC citizens currently play on European League soccer teams, including Zheng Zi of the English League Celtics and Li Chunyu of the Serbian FK Rad--two excellent, highly competitive Level 1 teams.
My Comment: Explanation B is false.
Explanation C. China has corrupt professional soccer, so this leads to inferior soccer playing. The last statement is half-true: in fall 2009, the Ministry of Public Security arrested more than 20 Chinese soccer officials, referees and players accused of “match-fixing, throwing games and gambling.” (Forbes has written about this, too.) However, in 2005 Brazilian soccer suffered from a major scandal where a referee was banned for life, and several others faced charges of fraud and conspiracy. There are similar allegations (and arrests from time to time) in many countries. Italy has no soccer betting? Nigeria is absolutely clean? Russia? Pick any South or Central American country. The formula Corruption = Bad Soccer does not apply to Brazil, Italy or Argentina nor to any other country.
My comment: Explanation C is false (and don’t bring it up again).
Explanation D. Chinese soccer is managed by the China Football Association (CFA), a non-profit, non-governmental group, but linkages with the General Administration of Sport (a government agency reporting to the top People’s State Council headed by Premier Wen Jiabao; it manages the Chinese Olympics Committee and the All China Sports Federation) are still suspect, and a top-down authoritarian approach to sports curtails the development of soccer. If indeed the Chinese state sports machine totally failed at winning medals at the Olympics, this would be a political-sports linkage issue to investigate further. But North Korea is labeled by the global media as “hermetic”--but nevertheless fielded a strong World Cup team managed by a government hack/soccer genius who probably never left Pyongyang. This faceless individual probably fears for his life if the North Korean team does not succeed. Maybe sometimes the threat of punishment works over monetary incentives.
My comment: Explanation D is interesting, but false.
So I have dismissed four reasons (Chinese bloggers have listed many more, but I wish to move on) why a Chinese soccer team again did not qualify for the World Cup. What would I--a non-soccer playing blogger--recommend for China regarding the future of soccer?
The answer will come in my next post, about grassroots organizations, lessons from Japan and the U.S. (and the NBA and basketball fan growth in China). Success in soccer would also involve issues of corporate sponsorship, PRC citizenship and naturalization, and training, training, training (up to a point). If it adopted those strategies, the People’s Republic of China could transform itself into the global winner of the “beautiful game."
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04213762ebb34671f965e0eba9ddd38c | https://www.forbes.com/sites/china/2010/07/05/is-china-buying-the-euro/ | Is China Buying The Euro? | Is China Buying The Euro?
After dropping precipitously from over $1.50 at the beginning of 2010 to a four-year low of $1.19 on June 7, the euro has been recovering ever since. On Friday, the euro closed at $1.26, up sharply in the week’s last three days of trading. (The euro slipped slightly to $1.25 in light trading Monday with the U.S. holiday).
Not wanting to suffer the same plight as Greece, Germany, the United Kingdom and other European countries have recently announced various austerity measures, and are making strong commitments to reduce their ballooning deficits. This new fiscal conservatism on the part of the European countries is undoubtedly restoring confidence in the euro amongst currency traders.
But there may be something else at work as well.
On June 19, the People’s Bank of China announced that it would abandon the peg that has kept the yuan valued at approximately 6.8 to the United States dollar over the past two years, allowing the Chinese currency to appreciate gradually. Rather than pegging China’s currency to the dollar, the central bank said that it would instead manage the value of the yuan in reference to a basket of currencies. Although the exact composition of this basket is considered by China to be a state secret, experts believe that it may include anywhere from 15 to 20 different currencies. The euro is undoubtedly a key element.
By this view, the fact that the sharp increase in the value of the euro in the final days of trading last week coincided with a similarly sharp increase in the value of the yuan should come as no surprise. Neither should the sharp rise of the Japanese yen and the British pound, other basket currencies, on Thursday and Friday.
As early as the beginning of June, when the euro reached its low point, some market watchers believed that China had already begun buying the euro, enabling the currency to stabilize. Last week’s currency movements suggest that China’s new currency regime is beginning to operate, and that the euro is likely to be the biggest beneficiary.
As China allows the yuan to increase in value against the U.S. dollar in the coming months, expect to see corresponding increases in the euro and other basket currencies. With more than $2.5 trillion of currency reserves and now more flexibility to buy assets that aren't U.S. Treasuries, China will be playing a market-moving role in determining the value not only of its own currency, but of other major countries' currencies as well.
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98d9a4e8391d8b9ee0bd8d917f3c0f47 | https://www.forbes.com/sites/china/2010/08/13/the-chinese-have-1-5-trillion-in-hidden-income/ | The Chinese Have $1.5 Trillion In Hidden Income | The Chinese Have $1.5 Trillion In Hidden Income
Image by AFP via @daylife
Credit Suisse has published a report that tries to quantify the scale of hidden, or unreported, income in China. The bank sponsored Professor Wang Xiaolu of the China Reform Foundation for this report, his second study of China’s grey income and income distribution.
Professor Wang makes some startling and conclusions that if accurate have significant ramifications for how we should view China's economic development, Chinese consumption activity (see Michael Pettis's site today for his dim view of Chinese consumption; not sure he has seen this report) the possible existence of property bubbles, the chances for a devaluation of the renminbi is the currency were liberalized, and the challenges the Chinese government faces in maintaining social stability. If his data is correct, it may also mean that many of the concerns about Chinese government debt are overblown, as the government has much greater potential than expected increase revenue in the future, through optimizing the tax code and tax collection. Professor Wang concludes that:
Almost Rmb10 tn in hidden income, or 30% of GDP. Based on a creative survey technique focusing on the correlation between income and spending patterns, and with over 4,000 samples across 19 provinces in China, Prof. Wang estimates that the per-capita disposable income of urban Chinese households in 2008 should be Rmb32,154, 90% above the official data. Total hidden income could total Rmb9.3 tn, 30% of GDP, with about 63% of hidden income in the hands of the top 10% of urban households.
The potential of China’s consumer market is even bigger than we expected. Most investors are aware that Chinese income statistics are underestimated, but the exact amount is subject to much speculation. The size of grey income revealed by Prof. Wang is striking and could help investors to understand the rationale of the Chinese government’s recent strong push for faster wage growth and a more equitable income distribution pattern – which would also help boost overall consumption.
The report further states that:
The analysis shows that the top-10% of households should have a per-capita disposable income of Rmb139,000 in 2008, instead of the official data of Rmb44,000. High income households (the top 20-30%) should have a per-capita disposable income of Rmb55,000, instead of the officially announced Rmb26,000. Some 80% of hidden income, not reflected in the official survey, belongs to the top 20% of households. Two thirds of the hidden income comes from the top 10% of households.
After including the hidden income, urban disposable income per capita reaches Rmb32,000, almost double that of the official data. Total household disposable income in 2008 is estimated to be Rmb23.2 tn, Rmb9.3 tn higher than the Rmb14 tn calculated based on the official NBS household income survey and Rmb5.4 tn higher than the Rmb17.9 tn total calculated by the Flow of Funds (FOF) accounts in the Economic Census This Rmb5.4 tn is referred to as grey income.
Compared with the adjusted household income in 2005, both the hidden income (Rmb9.3 tn) or grey income (Rmb5.4 tn) in 2008 doubled, rising at a much faster pace than nominal GDP between 2005 and 2008. Due to the existence of grey income, GDP and national income could be underestimated. According to our estimation, grey income in 2008 should total around 15% of national income, up from 13% in 2005.
The existence of hidden income has expanded the income gap remarkably, in our opinion. The per-capita income gap between the incomes of the top 10% and bottom 10% of urban residents rose from 9x (based on the official data) to 26x, after the adjustment. The per capita income gap between the top 10% of urban households and bottom 10% of rural households is adjusted from 23x based on the official data to 65x. Taking into account the existence of hidden income, the Gini coefficient of household income distribution is remarkably higher than the 0.47-0.50 calculated by different experts.
Such a concentration of hidden income in high-income groups demonstrates that much of it is not about simple statistical problems in the household survey but potentially income from illegal sources. Such income includes income without clear definition under laws and regulations in addition to its legitimacy, as well as income from an unidentifiable sources which is practically illegal. The facts show that grey income has its origins in the misuse of power and is closely connected with corruption.
Finish reading and see the entire report here.
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55daae72ecf3fdb76aa59d695c9da374 | https://www.forbes.com/sites/china/2011/04/03/chinas-new-smoking-ban-is-it-for-real/ | China's New Smoking Ban--Is It For Real? | China's New Smoking Ban--Is It For Real?
China’s Ministry of Health (MOH) recently announced that China will impose a Bloomberg-style ban on smoking in indoor public areas starting May 1, this year (just over a month from now). According to an article published in People’s Daily by Yang Gonghuan, deputy head of China’s Center for Disease Control and Prevention, the ban will apply to all restaurants, bars, Internet cafes, and public forms of transportation. I’ve seen conflicting information on whether it will apply to factories, offices, elevators, hotel lobbies, and hospital waiting rooms (where smoking, believe it or not, is quite common). Obviously, the ban would take some time to phase in, but the goal is to have no smoke and no smoking-related advertising in any public area in China by 2020.
So does this signal a dramatic new reality for smokers in China? Count me as a skeptic. In the lead-up to the Olympics in 2008, Beijing announced a similar smoking ban—and everyone completely ignored it. Authorities, unable—and unwilling—to enforce the ban, fell back to requiring all restaurants to create non-smoking sections. Now if you visit an upscale Beijing restaurant and ask for a non-smoking table, they’ll give you one—although it may be just a few feet from someone puffing away in the “smoking section.” But if you go to a neighborhood restaurant and make the same request, they’ll look at you like you’re nuts. Smoking is supposedly prohibited in Beijing taxis but most of them reek of cigarettes anyway, since no taxi driver is going to pick a fight with a customer who lights up. Chinese authorities may be willing to crack heads when it comes to petitioners and dissidents, but they seem to regard smoking as one of life’s little pleasures that it’s best not to mess with.
China’s government also has a direct interest in the cigarette business. The China National Tobacco Corp. (CNTC) is a state monopoly, and the largest tobacco company in the world, producing 2.3 trillion cigarettes in 2009—about 1/3 of the world total. According to China Daily, China’s tobacco industry generated RMB 513 billion (US$ 77 billion) in taxes and profits in 2009, more than 7.5% of the central government’s total revenue, and employed 520,000 workers in 183 factories.
Health officials like Yang argue that the government’s revenues from tobacco—as high as they are—are outweighed by its outlays in medical costs for health problems due to smoking, by as much as 20%. Yang estimates that tobacco kills 1.2 million Chinese a year, a number he says will double by 2025 and triple by 2050. Cases of lung cancer in China have soared more than fivefold since 1980, and now account for 1/4 of all cancer deaths. Advisers to MOH argue that the most economical approach would be to raise cigarette taxes from 40% to 50% or more, which they say would boost revenue while reducing smoking. (For the record, a modest tax hike two years ago, in 2009, did bring increased revenues, but had no apparent impact on consumption).
I’m not a big fan of higher taxes or nanny-state regulations—I’d settle for a little bit of courtesy. Smoking is so ingrained in China’s masculine culture that some middle-aged Chinese businessmen seem to think they’re doing you a positive favor by billowing smoke at you and your obviously pregnant wife. Younger people and women, in contrast, tend to show a lot more sensitivity to non-smokers. Nevertheless, I doubt that even China’s most inveterate smokers have much to fear from the latest initiative. As the New York Times reports:
there are considerable loopholes [in the new indoor smoking rules]… more important, they lack specific penalty guidelines. That detail has prompted shrugs among devoted smokers, many of whom have long since learned to ignore the no-smoking signs in hospital waiting areas, gymnasium locker rooms and elevators. “Chinese people, including most government officials, are just too in love with their cigarettes to pay attention to such a law,” said Liu Bailing, 28, a bank employee dining beneath a cumulus cloud of smoke at a restaurant here on Thursday evening.
Will he still be puffing away come May 1st? Stay tuned.
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5ce28eec741c8563d81ea8e5ddbeebc3 | https://www.forbes.com/sites/chipregister1/2014/04/29/some-banks-havent-given-up-on-trading-commodities-and-thats-a-good-thing/ | Some Banks Haven't Given Up On Trading Commodities. And That's a Good Thing. | Some Banks Haven't Given Up On Trading Commodities. And That's a Good Thing.
As expected, the recent retreat beaten by some of the largest energy trading banks has created a temporary dearth of capability, and sometimes liquidity, in the international commodity markets. Born a child of the Financial Crisis and the BP Deepwater Horizon oil spill, and later ensconced into law through Dodd-Frank, the Volker Rule and other international regulations, the anti-bank sentiment amongst policymakers has driven many of the largest players into various stages of transition toward smaller footprints.
The likes of JP Morgan, Morgan Stanley , Barclays , Deutsche Bank and Bank America – to name a few - are staring at the exit signs for some or all of their business. This is not good.
The collapse of Enron in 2001 shocked the energy markets and created a host of smaller, localized liquidity crises around the world. Many of us who were in the markets during that event recall, and not fondly, being stranded in positions of indeterminate value; risk managers calling the trading floor every hour asking for status reports; and lawyers whirling around like stirred-up bees checking cross-default provisions and margining arrangements in counterparty agreements. I was running trading activities for a large European utility, and believe me it wasn’t pretty.
If you don’t remember it this way, that’s probably because the major energy trading banks were calling around with one simple message: “We got this.” They consumed whole portfolios of positions from consumers and producers exposed to default while making markets and providing liquidity to exchanges struggling to resume normal flows. And the banks provided much needed settlement data to those of us trying to value our positions at the end of every day in the most opaque of circumstances.
They had big balance sheets, big risk appetites and the ability to mobilize globally within hours to avert a larger crisis. Sure, they made money doing it, but when the markets (and the world) needed a hero, they were there.
“We got this.”
But now as the dust settles around a new reality, we are all left wondering how banks, a bedrock layer of the global energy markets for three decades, will soldier on. Or, if they will simply collapse under the weight of continued regulatory and political burden. Fortunately, all does not seemed settled yet. As Aristotle famously stated: “Horror vacui” (or nature abhors a vacuum). And the energy markets will offer no exception to this axiom. It is becoming increasingly clear that banks will and should continue to play a vital role.
True, bank profits in energy trading are way down. And I mean way, way down. According to research firm Coalition, commodity-trading revenue for the ten biggest banks was $4.5 billion last year, down from more than $14 billion in 2008. But this has as much to do with collapsing volatility in the oil and gas sector following the Shale Revolution in the US and weak demand during the post-crisis recession, especially in Asia, as it does regulatory burdens.
And true, there are still headlines coming out of some of the more storied institutions announcing their withdrawal. Barclays was the most recent, and will give full details on May 8th of the terms and rationale of their departure. They have gone out of their way to assure investors and analysts that the move is intended to sharpen their strategic focus. They are more silent, however, about the lawsuits facing the unit, which all told could cost into the hundreds of millions if things went poorly for them in the courtroom. The situation was similar for JP Morgan, both the lawsuits and their ultimate departure. Coincidence? One wonders.
On the bright side for the banks, those outside the political offices in Washington and London are coming around to understanding the need for banks to participate in the energy markets.
Sure, the merchants have stepped in and taken a greater role in the short-dated and highly physical part of the market. After all; horror vacui. Mercuria is buying JP Morgan’s desk while Russia’s Rosneft is taking down the oil division of Morgan Stanley. Other non-bank traders like Noble , Glencore, Cargill , Louis Dreyfus, Vitol, and Trafigura are also heavy bidders in the headhunting market as the competition to hire ex-bank talent roars ahead.
But there are significant limits to what these firms can offer the markets. In a nutshell, they simply lack the credit-worthiness and often the technology and processes to support the big deals done to manage risk for large commercial lending or project financing deals, or even sometimes just plain portfolio hedging many producers and consumers transact as a matter of due course.
The energy industry is also bucking against all the anti-bank sentiment by lawmakers. Trade groups and big corporations like UPS and refiner Alon Energy have all weighed in: "The banks are well-capitalized, well-regulated, great counterparties," said Andrew Soto of the American Gas Association, which represents more than 200 local distribution companies serving over 90 percent of the customers in the United States. "They recognize that our utilities have solid balance sheet as well. The relationship is based on a lot of credit strength.”
Those banks that have stuck it out appear to be doing well. Morgan Stanley (which has not yet completed the sale of its oil division to Rosneft) had a banner quarter in Q1 posting an 18% increase in profit. And commodity trading was specifically cited as a bright spot in the earnings call. "We did have a particular strength in commodities given the volatility in the market with the weather," said CFO Porat. "Commodities tend to perform better in extreme weather. But we also saw a pickup in client activity."
And why would that happen? To start, not all of the restrictions on banks in the markets have come into force yet, leaving them able to take advantage of recent events that spiked local volatilities. This includes the Polar Vortex in the US, which drove gas prices to over $100 per mmBTU in New York City on certain days, as well as Putin’s invasion of the Crimea and the rapidly darkening clouds over eastern Ukraine.
Thinking longer-term, though, more important than these events are the underlying structural changes in the markets which create the need for high quality, high-credit counterparts to step in and underwrite the price risk for companies on their normal operations as well as their large capital projects in a way that the merchant class just can’t do.
The Centennial Moment in the global energy economy, this once in a hundred year disruption to an otherwise static model of production and consumption due to transformative technologies like hydraulic fracturing, horizontal drilling and ever-improving renewable sources, is requiring massive investment. Estimates top a tripling, from $10 billion a year to over $30 billion for the next twenty years, just in the US and just for fossil fuels, to accommodate the shift and maximize the opportunity. And banks are not only in the best position to lend that money, but also manage the commodity risks associated with it.
That is why you will hear Goldman Sachs making defiant comments like this:
“We remain committed to (these) businesses, which, here again, reflects the value our clients place on the services that we provide in these markets. And, our commitment has allowed our client franchise to grow. Over the past three years, for example, the number of corporate and growth market relationships have each grown by approximately 30 percent.”
In fact, the horror vacui rule and the opportunity offered by the Centennial Moment to participate in one of the more dynamic eras of commodity trading in generations has caught the eye of many banks.
And they are moving.
As Barclays and Deutsche and other perennial leaders of the space withdraw, their spots are being filled. Yes, by merchants, but also by other banks with big lending exposures to the industry. We’ve witnessed investment by Macquarie, Wells Fargo , CIBC and Standard Chartered , just to name a few. And these examples are confirmed by premier commodity recruiting firm Human Capital, who sees the same phenomenon occurring from the talent side. Sure, momentum for now favors the merchants, but banks with big lending portfolios to the energy sector (and without two decades worth of pending lawsuits) are staffing up.
Despite all of the angst in legislative circles, the fact remains that the energy markets require a certain level of service, high-quality participants and balance sheet capacity to operate effectively and efficiently; and, perhaps most importantly, to provide for the safe and transparent exchange of risk between buyers and seller. The withdrawal of some of the largest players has been a boon for the merchant class, no doubt. But they can’t do everything the markets need them to alone, so part of that vacuum is being filled by some banks leaving will be new banks joining the fray. It is hard to imagine that ultimately politicians will fail to recognize how valuable they have been and critical they still are to the success of these markets and global economic activity.
Stop and think what would have happened if the Enron bankruptcy had created a crisis in the energy markets similar to the recent subprime mortgage crisis in the financial markets.
“We got this.”
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563d4600b3cdba4b753f7a65a8ee84be | https://www.forbes.com/sites/chipregister1/2014/05/15/mit-shines-light-on-coming-attractions-in-global-energy/ | A Preview Of Innovations That Could Upend The Energy Sector | A Preview Of Innovations That Could Upend The Energy Sector
If you want to wager that you'll know what the energy economy will look like in a decade or two, I’ll bet you’re wrong. Here are two reasons why.
First, everyone (and I mean everyone) missed the Shale Revolution. Just as it was picking up steam, then-President George W. Bush was bemoaning our “addiction to foreign oil” in his 2006 State of the Union address. The prestigious Energy Information Agency (EIA) only used the term “shale” four times in their Annual Energy Report a year earlier and made no mention of it having a material impact on the global production mix.
Fast forward to today and the United States sits of the cusp of being the largest energy producer in the world and will likely surpass Russia and Saudi Arabia in annual oil production next year. And our best thinking suggests that the US will be completely “energy independent” in about two decades.
But therein lies the rub: That term “our best thinking”. The problem is that our best thinking on these matters isn't actually all that good, as the Shale Revolution indicates.
Which brings me to my second reason for taking your bet. Generally in life, but specifically in these energy matters, we consistently underestimate the pace of innovation and disruption. And I have every confidence we are about to do it again.
I started thinking about this on one of my pilgrimages back to the Massachusetts Institute of Technology (MIT) earlier this year to hear Daniel Yergin (author of The Prize and more recently The Quest) describe the state of play in the global energy economy. What I came away with, which is consistent over the entirety of my thirty year relationship with MIT, was a distinct feeling that just past the visible horizon really smart people were busy designing the world we’ll all live in. But if you want to know what it’ll look like, you have to ask and settle in for a long and complex answer.
First up was Donald Sadoway, a professor of materials chemistry. He spoke about the development of liquid batteries that would be capable of storing electricity at the grid level with almost perfect efficiency. This could eliminate seasonal swings in energy prices while also leveling the playing field between fossil fuels and renewables when it comes to service reliability. So now if the wind doesn't blow really hard one day or if the sun doesn't shine brightly the next, wind and solar plants can tap their battery reserves to compensate for the decreased generation instead of triggering a gas-fired power plant. That would mean a good chunk of the 40% of extra capacity we carry in the in the nation’s power station fleet could be made redundant, saving both money and pollution.
This goes beyond the theoretical. Sadoway is the co-founder of Ambri, a privately funded company that hopes to bring his vision of liquid batteries to the marketplace, and quickly. Indeed, the team he has assembled is currently building a prototype that could go live this year with some of its first customers being the wind producers in West Texas. Liquid batteries would enable them to reliably store energy for the first time, slashing costs. The company is backed by Khosla Ventures, a venture capital firm, as well as Microsoft founder, Bill Gates.
Next on deck was Alexander Slocum, a professor of mechanical engineering. Dressed in (I’m not kidding here) a Hawaiian shirt and Disneyworld tie and sporting a Duck Dynasty-like beard, he gave a talk on advancements in more traditional forms of energy. He described new drilling techniques that could reach fossil fuels as deep as ten kilometers under the Earth, massively extending the range from the current average of two kilometers, based on revolutions in drill-bit technology.
Professor Slocum then went on to elaborate an incredibly bright future for nuclear power. Mini-reactors, some as small as a truck, are being developed, each with the ability to power thousands of homes. The advantage of these smaller reactors is that they don’t have the same accident potential as their older and bigger brothers, as they can be quickly and safely shut down in an emergency.
And, he stressed, though nuclear may be clean, it still relies on a non-renewable resource - uranium. But Professor Slocum doesn't think that will be much of a problem. While we may exhaust our current ground supply of uranium in a few decades, sea water, it turns out, is full of the stuff - a 10,000 year supply, he estimates. Professor Slocum quipped that if we haven’t figured out something better by then, he’ll really start to get worried.
As for nuclear waste, he reverted back to his ten kilometer drill bit, offering that, at those depths, burying spent fuel rods would have essentially zero negative environmental impact.
But the day wasn’t just full of academics. Bob Kleinberg from Schlumberger spoke about advancements in safety in regards to the fracking industry. He first updated us on fracking liquids – the chemical cocktails injected into the shale formations to catalyze the extraction of oil and gas – that are now safe to drink. Though he declined to actually demonstrate, he noted that the Halliburton executives do this regularly. But we got the point just the same.
Kleinberg also noted the development of new cements that can both expand and remain flexible as they cure, as opposed to shrinking and hardening as most cement does. This allows drillers to seal punctures in the water table as the pipes pass through them, preventing pollution of the aquifer.
A huge amount of time was also spent on continued progress in photovoltaic technology (that’s solar power to you and me), the costs of which have plummeted in recent years with plenty of room left in its innovation curve for further advancement. An interesting “for instance” was the idea that we will be painting solar panels in liquid form on the windows of skyscrapers soon, turning the whole edifice into one big power generator.
And finally, there were a few thoughts for fans of the clean coal movement. Both next generation nuclear and clean coal have had a rough ride recently, mostly around understanding how these projects will be financed. The Kemper clean coal facility in Mississippi is a great example of this. Far behind schedule and massively over budget, the unit none the less offers us a glimpse into a greener energy future as operators turn coal (and remember that the US is the Saudi Arabia of coal) into a gas and pump the carbon underground. Today this process is very expensive and being paid for by Mississippians who could run out of patience and dollars, but its potential is undeniable.
The long and the short of it is that analysts have a terrible track record of predicting the disruptive impact of technology on areas such as the energy sector. The Shale Revolution is just one, albeit very large, example of that. But the rate of innovation continues to increase geometrically. The examples above are all real. They exist in one form or another. And they are certain to flip the energy economy on its back yet again. And then again.
How much innovation has been “priced in” to forecasts already? Well, there’s no way to tell for sure. But I’ll take the under. I’ll bet that ten years from now, our energy is coming from places you couldn't possibly imagine today.
Unless you hang out at MIT.
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d77fbc368f7728a7d07cb10706dc36c0 | https://www.forbes.com/sites/chipregister1/2015/02/03/former-ferc-chief-jon-wellinghoff-speaks-out-on-grid-security-and-distributed-generation/ | Former FERC Chief Jon Wellinghoff Speaks Out on Grid Security and Distributed Generation | Former FERC Chief Jon Wellinghoff Speaks Out on Grid Security and Distributed Generation
In a previous article on Forbes, I had a conversation with former-CIA chief Jim Woolsey to discuss one of America’s greatest national security vulnerabilities, its power grid. The issues that Woolsey has been concerned with for over a decade has been the ease in which a terrorist group or other actor (think North Korea for example) could attack the grid and plunge the country into darkness for months, if not years. And if that seems far-fetched, just recall how a tree limb fell in Ohio in 2003 and blacked out the entire Northeast and part of Canada for several days.
Woolsey describes several scenarios of how the grid could be taken down for an extended period of time by anyone with the means and the will to do the nation, and the world, great harm. His focus was on EMP, or electromagnetic pulse. That’s part of the radiation blast emitting from a nuclear detonation, and it has the effect of rendering all forms of electrical devices useless. Radio, televisions, telephones, and, yes, power stations would all essentially fry from the inside out if exposed to such an event. Permanently.
Still seemed far-fetched? It really isn't. A very small and unsophisticated nuclear device (which is or could be in the possession of many American foes) could be attached to a weather balloon launched from a boat in the Gulf of Mexico or off of California and floated to the county’s mid-continent where its detonation would have the greatest effect. America would literally go dark. No phones. No money. No heat. No running water. No medicine. No police. Just darkness.
Congressional studies quoted by Woolsey estimate that two-thirds of the population would die of starvation, disease, exposure or violence related to social breakdown in the first twelve months alone.
And to make matters worse, we would never even know what hit us, because we would have no means to investigate, to say nothing of respond. Just darkness.
Other methods of getting at the power grid include cyber-attack or a coordinated set of bombings (with conventional explosives similar to the Oklahoma City in 1995) aimed at the regional nodes, or major substations that interlock the nation’s grid.
And here is where we pick up the story with my next discussion with Jon Wellinghoff, the former Commissioner of the Federal Energy Regulatory Commission (FERC). Wellinghoff has also been sounding the alarm for years about this vulnerability. But he has a slightly different take on how to secure the grid. While many analysts point to the few billion or so it would take to protect the grid from attack, Wellinghoff equates that to building a wall, which will only lead to potential attacks designing higher ladders.
Commissioner Wellinghoff believes the true answer to grid security is to fundamentally realign the system from one that relies on a few nodes (probably less than a dozen), which are all critical for the grid to operate, to a national system of 'distributed grids'; hundreds of smaller ones, which of course could be attacked individually through conventional or nuclear or cyber means, but none of which could topple the entire system if it went down.
What follows is our discussion that covered political leadership, new incentives and renewable energy sources that could advance the cause of distributed energy and lead to a safer (and cleaner) future for us all.
What is the state of grid security today? How safe are we from either a cyber or physical attack?
I think we are in a very tenuous security situation, mainly because of the way the grid is configured. It is currently set up in such a way that requires central station generation, which is then distributed through nodes of high voltage substations and then sent out to load centers. This centralized distribution system presents an array of vulnerabilities from a cyber and physical security standpoint.
What are some of those vulnerabilities?
These specific high-voltage sub-station nodes. If they are attacked in some way, be it by cyber, electromagnetic pulse or conventional bombing for instance, it can have a destabilizing effect for the entire grid.
What exactly is a node and how can it be attacked?
A node is one of a number of high-voltage substations, which are contained within the three main interconnects making up the North American power grid; the Texas, Eastern and Western interconnects. The nodes are sort of a gathering point inside the interconnects where more than one power generation source feeds into, which is then distributed out to load centers. These particular nodes, if they are knocked out by either a physical or a cyber attack, could have a major destabilizing effect on the entire grid system. Repairing these nodes has a long lead time due to their highly customized designs. So if there are multiple node outages it could be many weeks or months till the system is back to normal. By then, the country could be in chaos.
So how do we protect these nodes?
Well, there is only so much you can do. We could physically protect these nodes by beefing up security around them, but they’ll never be totally safe from a physical or cyber attack. It is sort of like building a firewall to keep out hackers. Eventually, the hackers will figure out how to get through, forcing you to build a higher firewall. It never ends. What we need to do is to move toward from this kind of thinking.
So what’s the solution here?
We need change the way the grid works, not just build higher and higher walls around these nodes. This can be done by shifting from a centralized to a distributed grid architecture in which power generation is dispersed along the grid.
By that you mean distributed generation?
That’s right. Distributed generation.
Can you explain what distributed generation is and how can it make the grid safer?
Distributed generation is about moving power generation to within the load centers as opposed to power sources being remotely located from the load centers. This breaks up the centralized node architecture currently in place and disperses the generation across the grid forming micro and sub-regional grids. So if there is an attack on a node it won’t take down that whole area of the grid because there would be those sub-regional and micro-grids that could island themselves within those areas. So we need to look at a different grid architecture and recognize and value the sort of support and security that can be provided by distributed generation.
Can you give me an example of what a distributed grid might look like and how it would be powered?
A distributed grid can be powered by a variety of methods – from co-generators of natural gas to wind turbines to solar installations on your home. The key is that they are located within that particular sub-region and can run even if the there is some cascading failure throughout the main grid. Solar is a good example. If everyone had solar panels on their respective roofs then we could adequately disperse power generation in such a way that it makes nodes practically irrelevant. It is easy to hack into a node and cause it to malfunction but it is basically impossible to hack 10 million solar power systems.
This seems like a multi-decade effort, right? In the meantime, the grid remains pretty exposed to attack by either cyber or conventional means. So is there something that can be done now to protect the grid?
How quickly we get to a distributed grid depends on how quickly we recognize the value of moving there. But you’re right, it will take some time so the government and the utilities should work together in the interim to ensure the safety of the grid. Such safety measures can range from instead of putting up a chain-link fence, erecting a simple concrete block wall, to placing ballistic resistant material around sensitive facilities. Conventional threats are always evolving, which makes protecting the grid as it is today very difficult. Just think about it, a person can now buy ten self-flying drones off eBay , load them up with explosives and have them dive bomb on to critical power nodes. Such a threat didn't exist five years ago.
What can people do to protect themselves?
People are beginning to understand that they need their own onsite capabilities to island themselves from the grid. That’s because the grid’s external vulnerabilities will continue to be a problem until we do have substantial amounts of distributed generation. I have a solar photovoltaic system that provides 100% of my power needs. I am looking into how I can island myself off the grid. But it is not just me, the military is moving toward micro-grids at all of their bases because they understand the vulnerability of those bases to outages.
So how come the government and the utility industry isn't doing more to encourage distributed generation?
There were a number of pieces of legislation at one time proposed that would have granted FERC additional authority to mitigate known threats and vulnerabilities to the grid system but that legislation never got anywhere.
And why is that?
Politics. The utility industry isn't incentivized to encourage distributed generation so they tend to oppose any changes to the status quo. FERC has been blocked from enacting stronger standards because they have to accept the standards as written by the North American Electricity Reliability Corporation (NERC), which is controlled by the utility industry. I testified many times that I didn't care if the authority was given to FERC, to Homeland Security, the Department of Energy or some other agency. It didn't matter to me; we just needed a national mandate for stronger standards. Regardless of that there was never an adequate compromise reached between the congressional sponsors of the legislation, the FERC and the utility industry.
Why are the utilities so hostile to change here?
The distributed model scares the utilities because it is new and places more control in the hands of the general population. That’s the response of a legacy industry that is very conservative and tends to look back instead of forward. The natural tendency of these utilities is to invest in security and improvements surrounding the plants they control as opposed to valuing the sort of investments consumers would make, like distributed generation. But, as I explained before, there is only so much that can be done to protect the grid based on its current architecture.
So where do we go from here?
The key is valuing distributed resources more appropriately. That way we could move more quickly to the distributed sub-regional and supportable system that won’t be vulnerable to attack. We have the ability to structure a market system for the grid that could make it more reliable and safer using distributed generation. We just need to get the government and the utilities on board as soon as possible.
In Wellinghoff’s view, protecting our centralized grid from all forms of attack – from bombings to EMP to cyber – is a never ending journey. We should of course do what we can for now, but the best use of resources is to reconfigure the grid, to change it from a centralized Goliath that can be downed with a single rock to hundreds of smaller grids. These could have thousands or even millions of generation sources attached to them, thanks to rooftop solar, micro-nuclear plants and other innovations in the field.
Ideally, the money we would spend building higher walls, according to Wellinghoff, should be spent incentivizing consumers and generators to invest in these technologies and grid companies to adapt the national infrastructure around them. Only this can ultimately lead us to a safer (and cleaner) place.
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8636f1889076b4ab7a6759df578889af | https://www.forbes.com/sites/chloeberesford/2020/03/27/rocco-commisso-fiorentina-coronavirus-letter-employees/ | Fiorentina Owner Rocco Commisso Leads The Way In Caring For His Staff In Uncertain Times | Fiorentina Owner Rocco Commisso Leads The Way In Caring For His Staff In Uncertain Times
Fiorentina's owner, Italian American billionaire businessman Rocco Commisso waves a fan's scarf ... [+] prior to the Italian Serie A football match Fiorentina vs Napoli on August 24, 2019 at the Artemio-Franchi stadium in Florence. (Photo by Andreas SOLARO / AFP) (Photo credit should read ANDREAS SOLARO/AFP via Getty Images) AFP via Getty Images
For all those working in any sports-related profession, the outbreak of coronavirus across the world has led to some very uncertain times. It’s important not to forget that not all those who are employed by a sports team are paid six-figure salaries; there are cleaners, safety stewards and groundskeepers that need to be considered too.
FIFPro general secretary Jonas Baer-Hoffman revealed that he would be addressing the urgent issue of redundancies and the impending financial crisis at Uefa’s conference with all Europe’s football associations, leagues and top clubs last Tuesday. English Football League clubs are already thinking about job losses and cuts in hours for employees with no gate receipt revenue to rely on for the foreseeable future.
English National League sides Hartlepool and Barnet have already discussed redundancies, although support measures introduced by the British Government to protect employees may keep the wolf from the door for a little while longer. Even Premier League team owners are reportedly looking into ways to cut costs, as it becomes clear that even the largest of clubs are not immune from financial hardship in the current climate.
Over in the US, one of the owners of the NBA's Philadelphia 76ers and NHL's New Jersey Devils reversed a planned 20% pay cut for the teams' salaried employees announced earlier in the day last Tuesday, admitting that “it’s clear” they made the “wrong decision”.
MLS side Minnesota United pointed their employees towards opportunities at Pepsi, seemingly unaware that their attempt at helping the situation was as tone-deaf as they come. Perhaps worst of all was billionaire NHL owner Jeremy Jacobs, who announced on Wednesday that Boston Bruins employees, 68 of which are full-time staff, would be placed on temporary leave on April 1, and be compensated with just one week of paid leave.
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At an unprecedented time of global anxiety over the health and well-being of our families, sports teams have a responsibility to communicate clearly to all of their employees, while doing absolutely everything in their power to avoid added stress of financial worries on top of an already extremely difficult situation.
One Serie A club owner is leading the way in terms of care and support to his employees. Mediacom owner Rocco Commisso only took control of ACF Fiorentina last summer, but has taken proactive steps in allaying the fears of his staff in a timely and considerate manner.
In a letter to the “Viola Family”, the generous owner spoke of his efforts to help those fighting the virus with his “Forza e Cuore” (strength and heart) charity campaign. After Commisso donated €250,000 to help local hospitals, both supporters and members of the team increased that amount to over €500,000 in less than 72 hours.
Rocco Commisso Letter To The Viola Family ACF Fiorentina
While the owner is keeping tabs on the team—who themselves have had several players and staff members test positive for the virus—from his home in the US, Director General Joe Barone and his son Giuseppe are isolating in Florence, as is Joseph Commisso, son of the owner.
“You can’t do anything without your health,” Commisso wrote to his employees. “You should know that many companies in different industries are sadly having to deal with serious financial problems resulting from this health crisis. While our Club is facing similar economic disruptions, I want to reassure you that Mediacom and Fiorentina are solid organizations, which gives me confidence in assuring you that over time we will grow Fiorentina into a successful enterprise.
“Right now, however, all the Viola Family needs to worry about is its own health and that of its loved ones. For the rest, as I’ve said from the first day I arrived at the Club: “You take care of me and I’ll take care of you.”
This is undoubtedly what Fiorentina staff members needed to hear. Rocco Commisso has done the right thing by Florence from the minute he walked in the door at the club. Even when times are hard, the owner has proved that he is a man of his word.
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85b547ca1d5d450d4313a8c9bcd2506e | https://www.forbes.com/sites/chloedemrovsky/2019/08/10/after-el-paso-and-dayton-resilience-in-the-face-of-trauma/ | After El Paso And Dayton: Resilience In The Face Of Trauma | After El Paso And Dayton: Resilience In The Face Of Trauma
The nation is in near perpetual mourning and grim about the prospect of facing more mass shootings.... [+] (AP Photo/Christian Chavez) ASSOCIATED PRESS
One week ago, America yet again faced tragedy as gunmen in two unrelated incidents shot into crowds at a Walmart store in El Paso, Texas and an active nightlife area in Dayton, Ohio. The combined death toll stands at 31. The nation is in near perpetual mourning and grim about the prospect of facing more mass shootings. Terrorism, whether domestic or international, has a broad effect on our collective wellbeing that extends far beyond the immediate tragedy. Constant vigilance takes energy and can have effects that are difficult to measure. This unease can cause widespread panic as was observed when motorcycles backfired in Times Square this week and the crowd reacted as though it was another active shooter.
We are left with a sense of unease and a need to respond to something that feels intangible. While we may not know the exact nature of the threat or how or when it will manifest, we can and should prepare for the potential effects. We can talk to our families, our friends, our employees, our colleagues about how they are feeling and what they are doing to prepare for events like these. How does it affect us? How does it affect business and performance at work? Is your team carrying fears for their personal safety that they might not even want to acknowledge in the workplace?
Strong leadership will be required to address this traumatic topic in a caring and meaningful way. To help prepare, every kind of organization needs to have an emergency action plan for how to address active shooter terrorism and other forms of workplace violence. The protection of employees, customers and other stakeholders needs to be at the center of any plan and this must be reinforced through a comprehensive, sensitive and effective awareness and training program. The plan must also take into account the regulatory environment and should include a mechanism for coordination with public agencies that would be involved such as the police and fire departments.
Specific plans will vary greatly among different types of entities, because a stadium or airport faces a very different type of threat environment from an office building or a university. There are many resources out there to support this work for organizations of all types and sizes including from the Department of Homeland Security and the Occupational Health and Safety Administration. Leaders need to be thoughtful to choose the right mix of best practices and customization to fit their own unique circumstances.
Above all, organizations must set aside business-as-usual to care for their people both physically and emotionally in times of crisis. Some of this work can and should be done in advance of an incident and if done right, can help people feel more comfortable. Planning and training can save lives as exemplified by the heroic efforts to evacuate Morgan Stanley on 9/11 that spared thousands. We also know that planning can have negative effects if handled clumsily such as in the case of an active shooter drill held at an AT&T facility in Chicago that unaware employees mistook for an actual shooter incident or the endless school shooting drills that are causing widespread anxiety among school children. Nevertheless, action needs to be taken to prepare because this threat is not going away anytime soon. Leaders need to make it a priority.
Leaders can set an example of openness to discussion, empathy for whatever their teams may be experiencing, and a commitment to personal preparedness. It takes energy to build a reserve of personal resilience. It takes resources to build organizational resilience. It all takes time and focus, both of which are scarce resources in the modern era. But the age of mass shootings is not over and we must not forget just how much is at stake – our organizations, our communities, our country, our lives. It’s worth preparing for.
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99c1281ffc926d7c9db9e7a21dcdc64f | https://www.forbes.com/sites/chloesorvino/2014/10/02/an-inside-look-at-the-biggest-drug-reformer-in-the-country-george-soros/?sh=3267cb371e29 | An Inside Look At The Biggest Drug Reformer In The Country: George Soros | An Inside Look At The Biggest Drug Reformer In The Country: George Soros
Meet the mega-billionaire who jump started the drug debate.
Financier George Soros has become one of the largest supporters of drug reforms ranging from medical marijuana use to the easing of sentencing for drug charges. His foundation has donated about $200 million to drug reforms since 1994, double what most people had estimated until now.
“He’s played a historic role in the evolution of drug policy reform from a movement that was at the fringe of U.S. politics to one that is in the mainstream,” said Ethan Nadelmann, who runs the nonprofit Drug Policy Alliance.
The largest recipient of that $200 million is the Drug Policy Alliance. Nadelmann said his organization has worked with Soros for decades, and that the foundation now gives roughly $5 million a year to his nonprofit or one of its affiliates.
Nadelmann recalled his organization's first success with Soros's help: when they won key states for medical marijuana in the late 1990s. This November, Oregon, Alaska and D.C. will vote on full-blown legalization. Florida residents will decide on approving medical use.
Worth an estimated $24 billion, Soros has funneled billions of his fortune, built through his hedge fund and famous deals like when he shorted the British pound in 1992, into his Open Society Foundations. It’s now a philanthropic powerhouse that has given about $11 billion towards causes including public health, human rights and drug reform through his lifetime.
Most of the foundation's drug-related giving has been sent overseas, supporting treating drug use as a public health concern rather than criminal issue.
One Soros-backed foundation recently paid for hundreds of heroin addicts in Crimea to move and continue treatment in Ukraine after Russia invaded the territory several months ago, and extended Russia’s law banning methadone clinics to the region, Nadelmann cited.
After Soros started publicly supporting Drug Policy Alliance in the 1990s, Nadelmann said the name recognition began attracting funding from other wealthy financiers and executives.
“The fact that someone as respected as him donated towards this issue raised the right sorts of eyebrows,” he added.
About $25 million has focused on reforming marijuana laws specifically, including decriminalization, medical marijuana use and full-blown legalization, said Michael Vachon, advisor to the chairman at Soros Fund Management. (Vachon confirmed that the foundation’s giving base is primarily from Soros’s personal donations to the foundation.)
Soros donated $1 million to back the Drug Policy Alliance’s specific ballot-initiative for California’s Proposition 19 in 2010. Soros also donated $400,000 to the Committee for Sensible Marijuana Policy in 2007, which supported decriminalizing holding an ounce or less of marijuana in Massachusetts. The measure passed in 2008.
He is one of the few billionaires who supports drug reforms. Among this year’s FORBES 400 who have also donated to drug reform over the past decade: Facebook billionaires Sean Parker and Dustin Moskovitz gave $100,000 and at least $70,000, respectively, towards supporting California’s Prop 19 in 2010 through Drug Policy Alliance.
More recently, Irwin Jacobs gave $5,000 in 2012 to the political action committee Drug Policy Reform Fund, which broadly supports decriminalization, medical use and reforming the justice system. Paypal cofounder Peter Thiel also gave $5,000 to the Marijuana Policy Project in 2004.
John Sperling, the billionaire University of Phoenix founder who died in August, had supported drug reform after marijuana helped him curb side effects from prostate cancer treatment in the 1970s. Insurance billionaire Peter Lewis, who died in 2013, had also pushed for medical marijuana legalization, and the National Organization for the Reform of Marijuana Laws estimated that he had donated more than $40 million towards the cause since the 1980s.
There's even fewer who support the other side of the debate. Most recently, casino mogul Sheldon Adelson, worth $32 billion, gave $2.5 million towards striking down Florida's vote on medical marijuana.
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51744b2c0836483c27b4eac6e353f4ed | https://www.forbes.com/sites/chloesorvino/2015/01/27/successful-african-american-real-estate-mogul-inches-closer-to-billionaire-status/?sh=326571607fc5 | Successful African American Real Estate Mogul Inches Closer To Billionaire Status | Successful African American Real Estate Mogul Inches Closer To Billionaire Status
Don Peebles is already one of the most successful African American CEOs in the country, but his recent building spree has put him one step closer to becoming a billionaire.
Forbes now estimates that his net worth is more than $700 million – and with several nine-figure developments underway, his fortune could very well keep going up. Peebles, 54, says he’s built up his six million square foot portfolio by picking deals that transform and open up opportunities. He’s known for weaving in $10 million and up apartments alongside redevelopment projects in some of the most impoverished areas in cities across the Eastern seaboard.
“The projects we tend to be attracted to are those that have greater impact, greater symbolism,” Peebles said. “Our number one focus is that our buildings are vehicles or symbols of opportunity. Our goal is to develop projects that transform communities.”
The son of a car mechanic, Peebles grew up in D.C.’s Petworth neighborhood until age 5, which is now a rapidly gentrifying area. After his parents divorced, he moved briefly with his mom to Detroit before they came back to D.C. for good. It was then that he began volunteering for political campaigns and working as a page on Capitol Hill during high school. Peebles said long-serving D.C. mayor Marion Barry mentored him, and at the age of 24, Barry appointed him as the city’s chairman of the real estate tax appeals board.
In 1987, the Rutgers University drop-out began working on his first project in the down-and-out D.C. neighborhood of Anacostia, a development he said was necessary to revive “once a thriving commercial quarter destroyed by the 1968 riots.”
Peebles announced he was exploring a bid for D.C. mayor in 2009 before dropping out to support his wife after his mother-in-law was diagnosed with cancer. He currently serves as the vice chairman of the board of the Congressional Black Caucus Foundation Board of Directors and is a member of President Barack Obama’s National Finance Committee.
He’ll likely be on a ballot somewhere soon. Peebles said he wants “another challenge” and with personal residences in New York, Washington D.C. and Miami, he has options.
“Mayor of New York sounds like an interesting job. So does Mayor of Washington, D.C.,” he said.
His company's recent building boom has kept him busy, though. His Peebles Corporation secured the bid for its first project in Boston, a $330 million contract to develop a hotel, condo and retail corridor connecting the Berklee and Fenway communities with Newbury Street. The contract, announced earlier this month, marks the company’s second-largest deal in its history. The biggest is a joint condo and retail project at 108 Leonard Street in New York City's Tribeca.
The company’s focus on working in cities lends well to developing both luxury and affordable projects, and his company has recently tripled the space in its New York office – a city with one of the world’s largest wealth divides. What’s pushing him, he said, is shrinking the wealth gap by providing greater access to opportunity, and says his company focuses on helping women and minorities.
“I attribute my success to access to opportunity,” Peebles said. “The status quo is not a sustainable situation for businesses. It’s in our interest as entrepreneurs to provide greater access to opportunity.”
The most blatant example of that is his 1998 acquisition of Miami’s prestigious Bath Club. Two years before buying it, he was the first African American member to gain admittance to the exclusive social scene.
“I found the purchase of it somewhat ironic. It was a club that didn’t allow African American or Jewish members. The fact that I was able to buy it sent a message at the time of how far Miami had come as a city,” he recalled.
Now, he’s building an intimate, 13-residence property, dubbed The Bath Club Estates, as an expansion of that landmark deal. With apartments that will range in price from $10 million to $50 million, the property even boasts a three-story penthouse, one that Peebles said they designed with the goal of building “the best penthouse in Miami Beach.”
That luxury property, which is scheduled to be completed in 2016, is worlds apart from the redevelopment project in Miami's Overtown neighborhood that his company will be breaking ground on soon. He said he hopes to transform the combined 3 million square feet with office, retail and condo space, helping to lift the community out of poverty.
The Peebles Corporation is also currently courting other potential developments in high-profile areas, including Times Square, Chelsea’s technology corridor in New York and downtown D.C.
Jack McCabe, a Florida-based real estate analyst at McCabe Research & Consulting, said the company has very few competitors of the size which have as big a range in the types of properties they build, from neighborhood redevelopments, hotels, high-end office space, historic projects and luxury condos.
“He basically just picks what he likes,” McCabe said. "It's usually these entrepreneurial companies that are successful in producing a diversified portfolio that you wouldn't be able to see anywhere else."
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bd694bfa4baa0fb046b0eb2dfb6a0372 | https://www.forbes.com/sites/chloesorvino/2015/06/01/billionaires-behind-pom-wonderful-fiji-water-rename-company/ | Billionaires Behind Pom Wonderful, Fiji Water Rename Company | Billionaires Behind Pom Wonderful, Fiji Water Rename Company
Nearly half of American households purchase products sold by the billionaire-backed holding company Roll Global , according to Roll, but most consumers probably have no idea. They haven't realized that such brands like Pom Wonderful, Fiji Water and Wonderful Halos were all related.
The company is hoping to change that. On Monday it announced it was aligning all 10 brands under a new corporate name: The Wonderful Company. “Now, we want consumers to know the name behind some of the most popular healthy foods they love,” cofounder Lynda Resnick said in an email. “As The Wonderful Company, we’ll create an even deeper connection between our brands and our consumers, and leverage that equity to continue building our position as one of the largest and fastest growing produce companies in America.”
Some of the brands owned by the billionaire couple Lynda and Stewart Resnick, whom Forbes estimates are worth a combined $4.1 billion, are already household names thanks to Super Bowl commercials (like the 2014 Wonderful Pistachios commercial featuring Stephen Colbert) and catchy marketing campaigns: the couple was behind the mandarin orange Cuties slogan “Cuties are made for kids” before they split with their then-business partner.
America’s Richest Families: An eBook From Forbes A glimpse into the lives of the richest, most prolific families in America, and how they built—and sustained—their empires.
According to the company (Forbes couldn't verify the information), Wonderful Pistachios are the top-selling tree nut brand in America in terms of market share, while Wonderful Halos are the top-selling mandarin oranges and Fiji Water is the most sold premium bottled water brand.
Pom Wonderful, one of the company's better-known brands, has recently made headlines for a 2014 case in which the Supreme Court granted Pom Wonderful the right to sue Coca Cola for calling a product with just 0.3% pomegranate juice a “pomegranate-blueberry” drink. Pom contains 100% pomegranate juice, and is widely known for making the anti-oxidant rich pomegranate fruit a trendy health food. The case has since been sent back to the original district court judge, and the trial is scheduled for March 2016.
Still, the company has taken flack for touting Pom juice as the key to a healthy lifestyle: In 2012 a federal administrative judge upheld a Federal Trade Commission complaint that Pom Wonderful had used some deceptive advertising when marketing the antioxidant-rich drink as being able to “treat, prevent or reduce the risk of heart disease, prostate cancer or erectile dysfunction.” The ads featuring those messages were part of a larger marketing campaign, and the case has since gone to appeal. Steven Clark, vice president for corporate communications, said three judges in the appeals court initially ruled that they "did not have the power to make their own judgement" about the ads, and he added that Pom is now asking the federal courts to look at the ads. "POM is optimistic that it will ultimately prevail," he said.
Being "wonderful" in regards to sustainability is also part of the brand, Vice President of Marketing at the Wonderful Company Adam Cooper said in a phone interview. That may seem ironic to some, as the California-based company is one of the biggest producers of almonds and pistachios in a state where the severe drought has led the governor to impose urban water use restrictions for the first time ever. One gallon of water, for example, produces just one almond.
Clark said the statistics don't tell the full story, pointing to California's agriculture industry producing jobs and keeping food prices low for the rest of the country. "At the end of the day, it takes water to grow food, and California's Central Valley provides the nation with half of the country's fruits, vegetables and nuts. We use water responsibly, down to the drop, and we are very wise in our water usage. When you walk through most orchards and farms, you don't see pools of water anywhere," he said.
The company says it has invested more than $100 million towards sustainability, clean energy and environmental research efforts. Many of those dollars have gone to making aspects of the company's facilities more sustainable, like the $25 million spent on advanced irrigation research, $22 million on solar panel systems, and $41 million on fuel cells, which the company says generate 35% of the total required electricity for four of its primary facilities. In 2009, the couple also donated $20 million to the California Institute of Technoogy to start The Resnick Sustainability Institute, and an additional $4.25 million has been given to the institute to date.
Lynda Resnick has been perfecting her marketing skills for decades. A child actor, she dropped out of college at age 19 to start her own advertising agency. She met Stewart in 1970 when he came looking for advertising as a client.
Since 2002, the company has launched six brands (including the acquired and re-launched Fiji Water). Texas red grapefruit Sweet Scarletts came last year. Revenues were nearly $3.8 billion in 2014.
Cooper said that the rebranding will help support further growth aspirations by helping connect the company to new consumers. He said it will also make it easier for retailers to promote the Wonderful Company more often.
The branding concept took a year to roll out, and Cooper said the teams from within the company focused on how to connect the brands with healthy lifestyles — a move which has growth on its side. A Euromonitor International report from 2012 projected that the global market for healthy foods and drinks will reach $1 trillion in sales by 2017. According to a Euromonitor report, American consumers spent more on health and wellness products in 2014 than ever before as more have become concerned about the quality of ingredients being used in processed foods.
“We know consumers and retailers are looking for healthier options. We wanted to make sure that consumers are connecting our products to the others and that everything is healthy,” Cooper said. “The biggest thing to us is the heart in our logo. It’s something that reinforces our consumer promise. Lynda was very involved. This was her vision that she asked me to bring to life.”
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926c5f38a055f6c163fdf31f60a21856 | https://www.forbes.com/sites/chloesorvino/2015/11/04/americas-nuttiest-billionaire-couple-amid-drought-stewart-and-lynda-resnick-are-richer-than-ever/ | America's Nuttiest Billionaire Couple: Amid Drought, Stewart And Lynda Resnick Are Richer Than Ever | America's Nuttiest Billionaire Couple: Amid Drought, Stewart And Lynda Resnick Are Richer Than Ever
Meet Stewart and Lynda Resnick, billionaire Agriculture royalty. Photo Courtesy of The Wonderful... [+] Company.
For over four years a record-breaking drought has scorched central California with Old Testament cruelty. Drive west of Bakersfield into the heart of the San Joaquin Valley and soon you will be engulfed by sloping brown hills broken up by dusty, slate-colored fields. Desolate little towns off the highway dot the parched landscape. Lost Hills (pop. 2,412) consists largely of a tamale shack, a mostly empty James Dean-themed shop, a dilapidated tire store and a rundown pool hall.
Yet there is an Eden. It's a little to the west of Lost Hills, off Route 33. Here there are rows upon rows of green--some 70,000 lush acres of water-hungry pistachio and almond trees. Come at the right time of year and you'll see the almond trees blossoming, covering the valley in a blanket of light pink petals. This land belongs to the billionaire Resnicks, Stewart, 77, and Lynda, 72. It's the most valuable part of their $4.3 billion fortune. Those crops and the land are worth more than ever before, about $3 billion.
Their oasis has plenty of water, the result of relentless opportunism that has given their orchards access to more water than nearly any other farm during the worst drought on record in California's history. The Resnicks use at least 120 billion gallons a year, two-thirds on nuts, enough to supply San Francisco's 852,000 residents for a decade. They own a majority stake in the Kern Water Bank, one of California's largest underground water storage facilities, which they got fairly but sagely from the government 20 years ago. It is capable of storing 500 billion gallons of water. They have also spent at least $35 million in recent years buying up more water from nearby districts to replenish their supplies.
The Resnicks, who live in a five-bedroom mansion in Beverly Hills and fly into the valley about once or twice a month, are crafty dealmakers and even finer marketers. In addition to the pistachios and almonds, their company, renamed Wonderful in June, owns 32,000 acres of California citrus, flower-delivery service Teleflora, POM Wonderful pomegranate juice and Fiji Water, which collectively brought in $3.8 billion in sales last year. By their own estimates almost half of American households buy their products.
Not everyone is eager to fill their pantry with a Resnick brand. Agriculture's king and queen have a history of commandeering natural resources in pursuit of profit, and their actions in Fiji – where they annually fill millions of plastic bottles with water and then ship them thousands of miles across the world while residents haven't always had access to potable water themselves – have already infuriated environmentalists. Now they are being vilified in California for their water use in the ongoing drought. "Ninety-nine percent of us are being asked to take cuts for the 1%: Stewart Resnick," says Barbara Barrigan-Parrilla, executive director of Restore the Delta, a Stockton, Calif.-based nonprofit working to protect fisheries and farms in the Sacramento-San Joaquin Delta.
Several anti-Resnick forces allege the couple's immense water supply is ill gotten. The Kern Water Bank and Westside Mutual Water, a company set up to control the Resnicks' water, have been sued three times since 2010. The water lawsuits – one reached an interim settlement, one led to environmental review and one is on appeal – have alleged that the Resnicks had no ownership right to the water bank and that the bank is dipping into their neighbors' water supply.
The Resnicks deny the allegations and say they are legally and morally in the right. "I don't even know what these are about, because my view is we're going to win," says Stewart Resnick. "We've been sued over the same thing over and over and continue to win. If I had a son who, God forbid, should go to law school, I would say go into water law. You get one lawsuit that lasts 20 years." He says that he simply invested in the storage facility at an opportune time and also cites the $25 million the company has spent on irrigation systems that reduce the use of water by dripping it directly on the roots rather than using sprinklers to flood the fields. Even with these water-saving measures, he says, Wonderful expects production of the superthirsty almond trees to drop 20% and pistachios to drop 60% this year. (It takes one gallon to produce just one almond or one pistachio.)
"When I first came to California 60 years ago, I should have bought property on Rodeo Drive. Now I would like to go back and buy the property on Rodeo Drive for the same price it was 60 years ago," says Resnick. "People that had opportunities to buy into the water bank – just like we did – didn't do it. Now they think it's worthwhile."
The Resnicks miss few opportunities. The son of a New Jersey bar owner who drank and gambled away his money, Stewart transferred in 1955 from Rutgers to UCLA. To make ends meet, he started a janitorial business while in college. By the time he graduated, he had ten employees. He continued to operate the business while in law school and eventually employed 100 people.
By contrast, Lynda grew up in Beverly Hills, the daughter of a wealthy Hollywood film producer, with two Rolls-Royces in her driveway. A former child actress who performed on a weekly variety show, she dropped out of Los Angeles City College and founded an advertising agency at age 19; she married that year and had two children before divorcing just as the business started to struggle. More troubles came when she began dating a man whose friend asked if he could use her copier at night and on weekends. She denies realizing that his friend Daniel Ellsberg was printing what would later be known as the Pentagon Papers, but she eventually got entangled in legal proceedings with the federal government. (In the end she was subpoenaed but never charged.)
The Resnicks met in 1970 when Stewart came looking for marketing help for the janitorial business. He led her on, and after several meetings she bluntly asked whether she was going to get the account or not. Also divorced with children, he told her that he wanted to start a relationship instead. They married and in 1979 bought Teleflora, a failing flower-delivery service.
Theirs was a symbiotic partnership from the outset: He was level-headed and finance-minded; she was more dramatic with notable marketing flair. The combination has proved unstoppable. Stewart bought his first parcel of farmland in California's central valley in 1978 as a hedge against inflation. Lynda then took the fruits and nuts of their labor and marketed the heck out of them. "It takes a nut to sell a nut," she would later say. Lynda branded mandarins as Cuties and then, after a falling-out with a partner, rebranded them as Halos. She marketed pomegranate juice as POM Wonderful, a magical elixir filled with antioxidants. (Stewart, who survived prostate cancer, drinks 8 ounces of POM Wonderful and takes a pomegranate pill every day and says that he hasn't had a cold in a decade. At age 77 he cycled about 40 miles a day across Italy during a nine-day bike trip this summer.) In 2009 came the "Get Crackin' " ad campaign marketing their pistachios and, in 2013, 15-second clips hit the Super Bowl, with recent spots featuring late-night host Stephen Colbert. ("I can't make anyone cry in 15 seconds, but we can make them laugh," says Lynda, adding that 30-second ads in the Super Bowl were too expensive.)
Undoubtedly aided by Stewart's law degree, the Resnicks have also proven to be adept at fighting legal battles. Their mail-order collectibles firm, Franklin Mint, was sued in 1998 by the estate and charitable foundation of Princess Diana, which said the firm did not have the right to use and profit from her image on keepsakes; Franklin Mint retaliated, filing a countersuit in November 2002, alleging it was the victim of an ugly smear campaign. In 2011, five years after they sold Franklin Mint, a settlement was reached. Altogether the Resnicks were paid $50 million, all of which they donated to charity.
The Federal Trade Commission filed a complaint in 2010 that the Resnicks' POM Wonderful had used deceptive advertising when marketing the antioxidant-rich drink as being able to treat, prevent or reduce the risk of heart disease, prostate cancer and erectile dysfunction. In 2012 a federal judge agreed that some of the ads were misleading. In 2013 FTC commissioners denied the Resnicks' appeal. In October of this year the Resnicks asked the Supreme Court to take the case.
The Supreme Court sided with the Resnicks in a separate case. In that instance, POM Wonderful sued Coca-Cola, which sold pomegranate blueberry juice under the Minute Maid brand, alleging that it shouldn't be able to market drinks with just 0.3% of actual pomegranate juice. In 2014 the court ruled that Wonderful could proceed with its case. Coca-Cola has denied its labels were misleading. That trial is slated for next year. Meanwhile, POM is spending millions on research to show the benefits of eating pomegranates, and expects to release positive results based on human trials.
Regarding their water business in Fiji, they have been vilified as greedy capitalists for hogging the archipelago's precious water supply. They bought Fiji Water in 2005 and started pumping out and bottling millions of pricey water bottles from a pristine aquifer. Meanwhile island natives didn't always have water to drink themselves, due to crumbling and insufficient infrastructure. The Resnicks' once friendly relations with the volatile Fijian military junta turned sour in 2010, when the government announced a tax hike on the company, which leases the land and is one of the island's biggest employers. The Resnicks shut down operations temporarily before agreeing to pay the reported 45% tax increase on each liter of water. Under the Resnicks' ownership, Fiji Water added two bottling production lines, up from one when purchased; it currently uses two. Last year it shipped more than 250 million bottles worldwide, an eightfold increase since buying the business. It is the bestselling imported water brand in the U.S. The Resnicks, who visited the island this summer, say they have helped locals access safe drinking water by investing $600,000 in water infrastructure for 77,600 people. They also say they donated $5 million to rainforest conservation and other initiatives.
The Resnicks in Fiji this past summer. Photo Courtesy of The Wonderful Company.
Fijian military dictators aside, the couple knows the value of cultivating powerful friends, whether at their Los Angeles mansion or their Arts & Crafts lodge in Aspen, where they spend several months a year. In 2000, when the Democratic National Convention was held in L.A., the Resnicks reportedly hosted a cocktail party honoring Senator Dianne Feinstein at their sprawling estate in Beverly Hills, attended by then California governor Gray Davis and former President Jimmy Carter. Other guests through the years have included: Arianna Huffington, junk bond billionaire Michael Milken, Tesla CEO Elon Musk, Yahoo News anchor Katie Couric and even the odd Supreme Court justice. "It's a who's who of politics and media and celebrity. It's almost like old-fashioned salons, where [Lynda] can bring people together," a former executive and regular guest says.
It's in the Central Valley where they now have their biggest fight. Stewart first bought land in the area as an investment in the 1970s. Over the next decade he picked up tens of thousands more acres. When a six-year drought started in 1987 and cost local farmers $800 million, he had much less skin in the game. Still he took note, quickly realizing that the contracts he had with the state, which delivered water from the California Aqueduct – a 444-mile-long channel flowing with runoff from the snow-capped Sierra Nevada mountains – were vulnerable when water was scarce and the state couldn't meet everyone's needs.
In what some critics have called secret meetings, some of his most trusted advisors met with several leaders from southern California water districts and state water officials, helping broker a sweetheart deal in 1994. Two decades later it still gives the Resnicks nearly unrivaled access to water. Wonderful denies the meetings were done clandestinely, alleging that those who say so have an "ax to grind." The upshot of that meeting: California handed over public land and an underground aquifer (former farmland and oilfields that had the potential to store about 500 billion gallons of water) to a group of five public water districts and the Resnicks' Westside Mutual Water Co. The new owners, in turn, agreed to forfeit state water contracts. They then installed a 6-mile-long canal and 85 wells at a cost of $50 million. FORBES estimates that the Resnicks' 57% stake in the storage facility is worth at least $250 million.
The Resnicks own about 70,000 pistachio and almond acres in California's Central Valley. Photo... [+] Courtesy of The Wonderful Company.
But their ownership has been under siege, challenged in court nearly continuously for the past two decades. In 2010 the Center for Biological Diversity, a nationwide environmental nonprofit group based in Arizona, and several other groups sued the bank and its members, including Westside and the Resnicks' parent company. A Sacramento County Superior Court judge ruled last year that the state gave up the water resources without properly analyzing the potential environmental impacts but dismissed three other allegations – including one challenging the agreement's constitutionality. The case is now being tried in Sacramento's Third District Court of Appeal. "We're warriors out here trying to make sure that a bunch of fat cats don't suck this state dry," says Adam Keats, chief lawyer for the opposition, who adds that the Resnicks' lawyers have "a level of rabidness in protecting their fortunes. They are fiercely defending that golden goose."
Neighboring water districts to Kern Water Bank filed two complaints in 2010 when farmers' wells began drying up. In one, Rosedale-Rio Bravo and Buena Vista alleged that the water bank was pumping at "dangerous and unacceptable levels." Water levels dropped further as the drought raged on. An analysis of three decades of water-level records obtained by FORBES shows that the Kern Water Bank members have consistently pumped far more than their neighbors. Because California was the last state in the West to start placing limits on groundwater pumping, with legislation passed just last year and taking effect only by 2020, it was legal, if not ethical. There was also an allegation that the pumping may have caused land to sink in the Central Valley, a phenomenon that is being tracked by NASA. (Wonderful says they have not seen any sinking on property over the last 20 years of filling the bank and extracting water from it, and that a device on the property tracks it. Kern Bank members "cannot and have not removed more water than they have deposited, just like a bank account," a Wonderful spokesman says.) The court ordered the state last year to conduct an environmental review by mid-2016 that could result in new limits placed on pumping.
In the second suit brought on by those two water districts and two others, Kern Water Bank leaders agreed under a settlement to assess damages and, if necessary, compensate the affected landowners.
The Resnicks are already looking to secure additional water sources. The couple could score big if a $15 billion water project championed by Governor Jerry Brown is officially approved in the next few years. At least two Wonderful farming executives are involved in a grassroots push for the project, now called California WaterFix, which would carry water from the Sacramento River Delta through two 30-mile-long tunnels to San Joaquin Valley farms. It's a long-term bet but one that is very controversial right now.
There's another cushion they've been building for decades. They have invested $100 million in technology initiatives designed to help manage water shortages and high utility costs; their water expenses, which tripled in the past 15 years, account for 40% of their agricultural costs. "There's no bigger incentive. We have a very aggressive R&D program," Stewart says. In addition to drip irrigation systems now used on all their farms, they have spent $22 million on solar energy networks and $41 million on fuel-cell research and implementation to power their plants and facilities more cost effectively. A new research project is also about to roll out "supertrees" cultivated to yield more with a regular tree's amount of water, which could even be sold to rival farmers. Whatever the future brings, it would probably be a mistake to bet against the power couple.
"You have to be an optimist to be a farmer. Fortunately, with our management team, we have some optimists and some pessimists," Stewart says. And, of course, some opportunists.
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05370b11556881708f89604505d9d107 | https://www.forbes.com/sites/chloesorvino/2016/06/02/americas-richest-self-made-woman-in-real-estate-dorothy-herman-douglas-elliman/ | This Is America's Richest Self-Made Woman In Real Estate | This Is America's Richest Self-Made Woman In Real Estate
How do you become the richest self-made woman in American real estate? For Dorothy Herman, the path to success includes surviving childhood trauma and raising a daughter as a teenager. Nicknamed Dottie, she joins Forbes' second annual richest self-made women list this year with an estimated $270 million net worth. It's all thanks to the real estate brokerage empire she started building in the 1990s, first with Prudential Long Island Realty and later with storied brokerage house Douglas Elliman.
"You have to be passionate about what to do. Not that I grew up and wanted to be a real estate person. I didn't. But opportunity presents itself and I think most people don't take advantage of it or they're afraid to. They are afraid of failing. I was not," Herman told Forbes.
[caption photocredit="Photo Courtesy of Douglas Elliman."] Photo Courtesy of Douglas Elliman.
CEO of Douglas Elliman Dottie Herman is thecountry's most successful self-made woman in real estate.[/caption]
Herman, 63, has made a fortune selling multi-million dollar homes to New York's elite in the Hamptons and Manhattan. As co-owner and CEO, she led Douglas Elliman to sell $22 billion worth of homes in 2015, netting $600 million in sales. Today, the firm has over 6,000 agents in 85 nationwide offices. There's even a partnership with Knight Frank's outfit in London to bring international buyers into the fold. In all, that makes Douglas Elliman the fourth largest brokerage house in the country, according to REAL Trends' annual ranking. It's also the biggest in New York City. Herman and her business partner Howard Lorber, who is CEO of publicly traded holding company Vector Group, purchased Douglas Elliman for $72 million in 2003. Back then, it netted just $100 million in sales from $4 billion in homes sold.
Born Dorothy D'Ambrosio, Herman's life has been a rags-to-riches tale. When she was 10, her family got into a car crash on the way back to Long Island from a ski vacation in Vermont. The crash killed her mother, left her father disabled and, for the next several years, brought on seizures for Herman, who was thrown from the car. No matter. She pressed on, taking care of her two younger siblings while her father recovered and spent two years on disability. "You can either be a victim or you can take a day or two, cry, and then get back in the game," says Herman.
See Full Coverage Of America's Richest Self-Made Women 2016When she became a mom at age 19, she took time off from Adelphi University, but soon went back for the degree, aiming to earn more and get certified in financial planning. After graduating, she took a job as a real estate broker at Merrill Lynch's outpost on Long Island. Merrill Lynch, though, soon got out of the real estate market, and sold the shop to Prudential in 1989. At the urging of her coworkers, Herman soon decided she could run the place better herself. The problem, of course, was that she didn't have the money. So she convinced Prudential to loan her the $7 million for the sale, and in 1990, she bought the brokerage from Prudential.
Dottie Herman, real estate's big deal, is one of nine self-made women to grace the most recent... [+] Forbes cover. (photo credit: Jamel Toppin with Tim Pannell for Forbes)
Now, 13 years after moving into the Manhattan market, Herman is driving the Douglas Elliman brand, and she's not slowing down. Forbes recently sat down with her to talk failure, entrepreneurship advice and what she finds most inspiring.
Favorite rule to break? I do what I feel is the right way to go and ask for forgiveness later.
Favorite Quote? Success is failure turned inside out. If you're afraid to fail, you'll never succeed.
What's your next professional goal? To monetize the real estate business. If you're an agent, you're an independent contractor. If you're a stock broker you can sell your book. It's my goal for the industry that brokers can sell their client-based business so that when people get ready to retire they don't just get a gold watch.
What’s your next step personally going to be? To start a women's nonprofit for those who want to be entrepreneurial. There aren't enough role models.
Real Life Inspiration? My partner Howard Lorber because he believed in me when I was no one.
What’s your bedtime, and when does your alarm go off? I don't have a set alarm. I am lucky if I get three hours of sleep. I go to bed at 2:30 a.m. and wake up at 6:15 a.m.
What’s your #1 productivity tip? If you have a vision, follow it.
What would you tell 20-year-old you? Never let people tell you that you can't.
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fca358eb7a0facca8bb238caf34a6ca8 | https://www.forbes.com/sites/chloesorvino/2016/06/15/heres-how-to-get-shark-tanks-barbara-corcoran-to-invest-in-your-startup/ | How To Get Shark Tank's Barbara Corcoran To Invest In Your Startup | How To Get Shark Tank's Barbara Corcoran To Invest In Your Startup
Barbara Corcoran made a small fortune in real estate when she sold The Corcoran Group, her New York-based residential brokerage house, in 2001 for $60 million. "The money was actually a surprise to me. Money isn't driving entrepreneurs, success is. You get the satisfaction of self-made success. It's better than sex. Sex is short-term," Corcoran says.
Now, she's best-known as one of six judges (and one of two self-made women) on the hit CNBC show Shark Tank where about 7 million viewers watch the so-called venture capital sharks question entrepreneurs looking for seed investments and sometimes get into bidding wars with each other over the deals. A shark since 2009, she's invested $2.7 million of seed money in 50 startups including Cousins Maine Lobster food trucks and apparel retailer Grace and Lace. ("That's a more expensive hobby," she says, adding that she's no where close to fellow Shark and billionaire Mark Cuban's level. Cuban has invested nearly $20 million on air, according to Sharkalytics.com) She's also set up an angel fund, which she has personally invested about $300,000 of the total $5.7 million raised.
Barbara Corcoran, one of the star sharks of CNBC's hit venture capital show, Shark Tank. (Photo by... [+] Brian Ach/Getty Images for National Association of Professional Women)
So what does it take to catch her eye? Corcoran spoke to Forbes about what she most looks for in startup founders. "Is the entrepreneur capable? Can they hit the finish line? 60% is gut reaction and 40% is asking the right question," she says. She also talked about some of the questions she asks them to test their meddle. Here's a recap of what it takes to convince her to invest.
Play up your hardships (and hide your privilege). "I ask [entrepreneurs] what was their biggest obstacle and what they did. When they're injured, have a drunk dad or are dyslexic, that's what I'm always hoping to find. They have the determination. It's almost like they're coming out of a hole and they want to get even with life. I'm hoping to find gold. Something short of gold is they haven't been spoiled. Privileged children with top-notch education, but they haven't had real-life trauma in anyway, in the end, that has so little do to with succeeding. I like a poor kid when I can find one. I seek them out."
Look for ideas while you work. "There's not a common need for most of what people dream up. It has to be born out of identifying a need. I look for someone who starts a business while holding a full-time job. All the good ideas happen out of a job and a hole in the system. Inventing something and hoping there's a need for it - that's a stupid waste of money."
Ignore advice. "The entrepreneurs always ask my advice and they ignore it and they do what they want. It's a trait of an entrepreneur. There's some power to reach into your own soul on your own business and circumstance. I didn't even stop to ask for advice. Now that I'm in the advice-giving business as an investment partner, I see the good ones ask and ignore what I say, so maybe I didn't miss out on much."
Take ownership of problems. "The kiss of death I look for at Shark Tank usually happens 3 to 4 months after they've started. They could have amazing sales but three months later, sh-- hits the fan with a really big obstacle. The minute they start blaming someone else - it's not even so much what they do with it - when they start feeling sorry for themselves, I write them off right then and there. Two out of three do. When they bounce back up, I know I have a winner on my hands."
Focus on growing sales. "If sales are going up, everything else can be solved. We can refocus, we can get customer feedback going forward. Even as far as expenses are, I access every expense how directly it will lead to sales. For a PR agency, how is it going to directly lead to sales immediately? For web optimization, if that is paying off, I say spend money on that. If you want to have new product development that's going to take time and there's still demand for first product, I try to get them to think about what will drive sales. If you don't have sales, you don't have a business."
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81e707f2ac71763699bea0fea41c2f68 | https://www.forbes.com/sites/chloesorvino/2017/03/08/the-worlds-56-self-made-women-billionaires-the-definitive-ranking/ | The World's 56 Self-Made Women Billionaires: The Definitive Ranking | The World's 56 Self-Made Women Billionaires: The Definitive Ranking
More women entrepreneurs than ever before have climbed into the 10-figure club. A record 56 self-made women are now billionaires including the first ever from countries like Vietnam and Japan. In fact, more than half of these enterprising women hail from Asia. Worth a combined $129 billion, these trailblazers have founded some of the best known brands around the globe including Gap, Spanx, Alibaba and Little Caesars. Women are still the much rarer sex when it comes to wealth creation but they are moving in the right direction.
The world's richest self-made woman is Zhou Qunfei. The billionaire grew up in an impoverished village in central China and reportedly quit school at 16 years old to work in a Shenzhen factory. In 1993, with about $3,000 in savings, she started her own company making glass screens. Today, her publicly traded Lens Technology, which makes glass covers for mobile phones and tables for customers like Apple and Samsung, brings in $2.2 billion in sales.
Other notable women include media powerhouse Oprah Winfrey, Facebook COO Sheryl Sandberg, Hewlett Packard Enterprise CEO Meg Whitman.
The best-known self-made women around the world include Americans like Oprah Winfrey, Spanx Founder Sara Blakely, along with Silicon Valley faces like Facebook COO Sheryl Sandberg and Hewlett Packard Enterprise CEO Meg Whitman. But they’re starting to be flanked in the ranks by a growing legion of women from Asia including the first-ever self-made women billionaires from Vietnam and Japan.
Marian Ilitch is now America's richest self-made woman. She ranks as No. 2 on the list overall. Ilitch cofounded Little Caesars with her husband Mike in 1959 when it was just one pizza joint outside of Detroit. Mike died in February, and Forbes now estimates that Ilitch and her family own Mike's stake in their conglomerate Ilitch Holdings, which also owns the NHL Detroit Red Wings and Detroit’s MotorCity Casino.
While self-made men still dominate the wealth rankings by a wide margin, their female counterparts are making big strides. Self-made women billionaires currently make up a record 25% of all women billionaires, up from 21% last year and 11% a decade ago. Overall, the number of self-made women ranking among all women billionaires has more than doubled since 2009. Meanwhile, self-made women billionaires are also richer than they ever have been. Total wealth among self-made women has increased 50% in the past five years and it now makes up about 16% of all women billionaires' wealth.
There are 15 self-made women who became billionaires in the past year. Except for U.S. immigrant Thai Lee, who founded America’s largest women-owned business by sales, all of the newcomers hail from Asian countries.
Rafaela Aponte cofounded the world's second-largest shipping container company with her husband in 1970. Today Aponte is one of seven women who have built their companies and shared their successes and fortunes with their husbands. Their fortunes represent half of the couples total worth.
Here's the full list. (Individual fortunes founded with a current spouse are noted with an asterix*)
1. Zhou Qunfei, $7.4B; Citizenship: Hong Kong; Source of Wealth: smartphone screens
2. Marian Ilitch & family, $6B; Citizenship: United States; Source of Wealth pizza, sports team
3. Chan Laiwa & family, $5.6B; Citizenship: China; Source of Wealth: real estate
4. Pollyanna Chu, $4.9B; Citizenship: Hong Kong; Source of Wealth: financial services
5. Wu Yajun & family, $4.5B; Citizenship: China; Source of Wealth: real estate
6. Lam Wai Ying, $4.1B; Citizenship: Hong Kong; Source of Wealth: smartphone screens
7. Diane Hendricks, $3.9B; Citizenship: United States; Source of Wealth: roofing
8. Rafaela Aponte, $3.75B; Citizenship: Switzerland; Source of Wealth: shipping *
9. Denise Coates, $3.6B; Citizenship: United Kingdom; Source of Wealth: online gambling
10. Zhang Xin & family, $3.2B; Citizenship: China; Source of Wealth: real estate
11. Oprah Winfrey, $3B; Citizenship: United States; Source of Wealth: TV shows
12. Zhang Xiaojuan, $2.9B; Citizenship: China; Source of Wealth: logistics
13. Giuliana Benetton, $2.7B; Citizenship: Italy; Source of Wealth: fashion retail, investments
13. Johnelle Hunt, $2.7B; Citizenship: United States; Source of Wealth: trucking
13. Rita Tong Liu, $2.7B; Citizenship: Hong Kong; Source of Wealth: real estate
16. Doris Fisher. $2.6B; Citizenship: United States; Source of Wealth: Gap
16. Lei Jufang, $2.6B; Citizenship: China; Source of Wealth: pharmaceuticals
16. Judy Love, $2.6B; Citizenship: United States; Source of Wealth: retail, gas stations *
19. Judy Faulkner, $2.4B; Citizenship: United States; Source of Wealth: health IT
19. Cristina Green, $2.4B; Citizenship: United Kingdom; Source of Wealth: Topshop, retail *
21. Meg Whitman, $2.3B; Citizenship: United States; Source of Wealth: eBay
22. Hedda im Brahm Droege, $2.1B; Citizenship: Germany; Source of Wealth: consulting
22. Kiran Mazumdar-Shaw, $2.1B; Citizenship: India; Source of Wealth: biotech
22. Zhao Yan, $2.1B; Citizenship: China; Source of Wealth: real estate, finance
25. Maritsa Lazari & family, $2B; Citizenship: United Kingdom; Source of Welth: real estate
25. Wu Lanlan & family, $2B; Citizneship: China; Source of Wealth: packaging
25. Lynda Resnick, $2B; Citizenship: United States; Source of wealth: agriculture *
28. Chu Lam Yiu, $1.9B; Citizenship: Hong Kong; Source of Wealth: flavorings
29. Dulce Pugliese de Godoy Bueno, $1.8B; Citizenship: Brazil; Source of Wealth: hospitals, health care
29. He Qiaonv, $1.8B; Citizenship: China; Source of Wealth: landscape architecture
29. Gail Miller, $1.8B; Citizenship: United States; Source of Wealth: basketball, car dealers
29. Elaine Wynn, $1.8B; Citzenship: United States; Source of Wealth: casinos, hotels
33. Chen Xiaoying, $1.7B; Citizenship: China; Source of Wealth: logistics
33. Wang Laichun, $1.7B; Citizenship: China; Source of Wealth: electronics components
35. Laura Dangermond, $1.6B; Citizenship: United States; Source of Wealth: mapping software*
35. Folorunsho Alakija, $1.6B; Citizenship: Nigeria; Source of Wealth: oil
35. Cheung Yan, $1.6B; Citizenship: China; Source of Wealth: paper manufacturing
35. Thai Lee, $1.6B; Citizenship: United States; Source of Wealth: IT provider
35. Su Suyu & family, $1.6B; Citizenship: China; Source of Wealth: utilities
40. Peggy Cherng, $1.55B; Citizenship: United States; Source of Wealth: Panda Express *
41. Chen Liying, $1.5B; Citizenship: China; Source of Wealth: logistics
42. Sheryl Sandberg, $1.4B; Citizenship: United States; Source of Wealth: Facebook
42. Jin Sook Chang, $1.4B; Citizenship: United States; Source of Wealth: Forever 21 *
44. Ma Xiuhui, $1.3B; Citizenship: China; Source of Wealth: LED lighting
45. Li Tan, $1.2B; Citizenship: China; Source of Wealth: pharmaceuticals
45. Nguyen Thi Phuong Thao, $1.2B; Citizenship: Vietnam; Source of Wealth: airlines
45. Tang Jianfang, $1.2B; Citizenship: China; Source of Wealth: packaged foods
48. Sara Blakely, $1.1B; Citizenship: United States; Source of Wealth: Spanx
48. Chen Baozhen, $1.1B; Citizenship: China; Source of Wealth: internet services
48. Cheng Xue, $1.1B; Citizenship: China; Source of Wealth: soy sauce
48. Fan Zhaoxia, $1.1B; Citizenship: China; Source of Wealth: photovoltaic equipment
48. Judith Neilson, $1.1B; Citizenship: Australia; Source of Wealth: investments
48. Lucy Peng, $1.1B; Citizenship: China; Source of Wealth: Alibaba
48. Yoshiko Shinohara, $1.1B; Citizenship: Japan; Source of Wealth: staffing
55. Elena Baturina, $1B; Citizenship: Russia; Source of Wealth: construction
55. Zhou Yifeng & family, $1B; Citizenship: China; Source of Wealth: liquefied petroleum gas
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6586b43cd12c17bf79382dfba906c584 | https://www.forbes.com/sites/chloesorvino/2017/05/05/best-birthday-ever-how-in-n-out-burgers-lynsi-snyder-turned-35-and-became-a-billionaire/?sh=769edb96b4bc | Best Birthday Ever? How In-N-Out Burger's Lynsi Snyder Turned 35 - And Became A Billionaire | Best Birthday Ever? How In-N-Out Burger's Lynsi Snyder Turned 35 - And Became A Billionaire
Turning 35 years old isn’t usually much of a milestone. Unless you’re burger chain heiress Lynsi Snyder.
On her 35th birthday Friday, she receives the final portion of her inheritance, pushing her ownership of the West Coast-based In-N-Out Burger restaurant empire up to 97% and making her a billionaire, worth an estimated $1.3 billion. She’s been receiving stakes for the past decade, a slow investiture process laid out in a complex trust structure by her grandparents, Harry and Esther Snyder, who founded the chain.
Harry and Esther opened the first drive-thru burger stand in California in 1948 as America began to take to the road. Their sons, Guy and Richard, both took turns running In-N-Out, but both died young—Richard at 41 in a plane accident, and Guy at 48 from an accidental overdose of prescription hydrocodone. Lynsi, who was just 18 years old when her father Guy died, started getting more involved in the business, reportedly working in human resources and merchandising, though Esther controlled daily operations until she died at age 86 in 2006. Lynsi, who never graduated from college, was ready to take on the top job of president in 2010.
Lynsi has capitalized on In-N-Out’s cult following on the West Coast, expanding its locations by 29% to more than 320 since she took over. That includes moving into new regions for the first time, like Texas in 2011 and the Pacific Northwest, with an Oregon location in 2015. Estimated revenue, meanwhile, has climbed 57% to about $870 million, according to research firm Euromonitor. A spokesperson for In-N-Out declined to comment on the revenue estimate and said FORBES' estimate of Lynsi's net worth was "inaccurate," without providing further details.
Much of In-N-Out hasn’t changed since her grandmother’s day. It still doesn’t franchise its locations. The beloved burger chain keeps its menu simple, offering only burgers, shakes, fries and soda, as well as its secret menu, which includes options to order a burger wrapped in lettuce (called “protein style”), a grilled cheese (a cheeseburger without the meat) or a burger with caramelized onions (called “animal style”). Preparation remains traditional: heat lamps, microwaves and freezers are banned from the premises and employees still cut potatoes and separate lettuce daily, in-house.
Above all, though, Lynsi has said the company will never be acquired or go public. "The only reason you would do that is for the money, and I wouldn't do it," she told CBS News in 2015. "My heart is totally connected to this company because of my family and the fact that they're not here, you know. I have a strong tie to keep this the way they would want it."
A condensed version of this story was published in the June 13, 2017 issue of Forbes.
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383868f7da73f1e8655814b7371ffc0e | https://www.forbes.com/sites/chloesorvino/2018/03/07/macaron-billionaire-laduree-paul-francis-holder-french-baker/ | From Baker To Billionaire: How Ladurée's Francis Holder Cornered The Macaron Market | From Baker To Billionaire: How Ladurée's Francis Holder Cornered The Macaron Market
Loaves and wishes: Francis Holder plans to create a baking museum in Paris with his massive... [+] collection of paintings and books on the subject. Philip Jintes
At his pastry factory in Lille, France, where the air smells like chocolate, Francis Holder is wearing a white baker's coat, his name embroidered on the front, over a tailored blue suit and red-striped tie. Paintings dating back centuries cover the three walls of his office. One is a portrait of a young baker wearing a stained coat and a floppy toque. Another depicts a dog chewing on a baguette. One more shows a hand coming out of the shadows to steal a loaf, an apparent homage to Jean Valjean's petty crime in Les Misérables. There's not a famous artist to be found in his 8,000-work collection. The only requirement is that each painting must focus on Holder's billion-dollar passion, baking, or his favorite obsession, bread.
The fourth wall is made of glass so Holder can stare across the hall at the research-and-development center for Château Blanc, the industrial arm of Groupe Holder, the private baking conglomerate he founded and controls. The 77-year-old loves to spend his days watching over the experimental bakeshop's seven mixers and three countertops, checking in with the chefs throughout the day to sample the test runs. "We are industrialists with the mentality of craftsmen," Holder says.
Just down the hall, past dozens of office employees all wearing matching white baker's coats, is the heart of Château Blanc's 100,000-square-foot factory, which now makes the company's most craved product, the macaron. The heart of Holder's masterful assembly-line operation is a machine with a conveyor belt the length of two football fields that bakes more than 30,000 meringue macaron shells an hour.
Château Blanc's headquarters--which, as its name implies, is painted white and modeled after a castle--fulfills a boyhood ambition Holder had growing up in Lille. And then some. His original dream was to have a small bread factory with "a chimney with smoke coming out of it." Since then, Holder has spent six decades perfecting the marriage of industrialization with artisanal baked goods. Long obsessed with America's industrial food processes, Holder embraces smooth mass production, and that has propelled his rise. But he balances affordability and speed with a distinctly French attitude about the best ingredients and product quality — still using fresh yellow butter in mass-produced loaves and pastries. "He's so improved the industrial applications," says Steven Kaplan, who has spent five decades researching French bread at Cornell University and has worked with Holder as a consultant for Château Blanc. "He's modeled the industrial by the artisanal mold. It's through the methodology which he knows like the back of his hand."
Macarons at Ladurée. Donato Sardella/Getty Images
Groupe Holder has three main subsidiaries: Aside from Lille-based Château Blanc, there is the renowned Parisian macaron maison Ladurée, which has 85 shops in 50 countries, and the artisanal bakery-cafe chain Paul with 740 stores in 43 countries. Groupe Holder's yearly revenue is about $1 billion, and Forbes estimates net profit margins of 14% — more than double that of bakery-cafe chain Panera Bread before it acquired Au Bon Pain in 2017. And all that dough has made Holder a billionaire — the 1,867th wealthiest person in the world, with a net worth of $1.2 billion.
"If tomorrow I was ten times richer, it would not make any difference for me," says Holder, who declines to comment on his net worth and profits.
That modesty, however, didn't stop him from embracing the astronomical rise of the macaron — the petite saucers sandwiched together with jelly or ganache fillings. In 1993 he purchased Ladurée, a chic Paris restaurant founded in 1862 that invented the modern macaron and has since collaborated with major fashion houses ranging from Lanvin in 2012 (bubble-gum-flavored) to Emilio Pucci in 2015 (tangerine-lemon-lavender macarons inside a box wrapped in the company's signature silk print, Capri), as well as rapper Pharrell Williams in 2014 (peanut butter and another that's cola-flavored) and performance artist Marina Abramovic in 2017 (Prussian blue and edible gold leaf, stamped with the Abramovic family's coat of arms).
And just as Ladurée produces more than macarons, the cookie has expanded far beyond Ladurée--and Holder is to thank (or blame) for that. Today, he estimates, 60% of Groupe Holder's in-store sales come from macarons. Holder is responsible for France's top three macaron sellers: Ladurée, Paul and, surprisingly, McDonald's. McDonald's McCafé macarons are sold in many countries outside France, including Spain, Italy and Belgium, as well as in Japan.
"Some were surprised about McDonald's being third," Holder says. "We said, 'That's obvious. We are the one who delivers them.' Because McDonald's is really loyal, this baker has factories throughout the world."
FRANCIS HOLDER TOOK over his family's small bakery, below the apartment where he had grown up, when he was 18, after his father, who was abandoned as a child and raised in foster care, died of a heart attack at 51. From there, his ascent can be divided into three distinct phases: creating a bread factory, building the Paul bakery brand and then melding the two to bring artisanal bread to the masses.
The first starts in 1961, when Holder came back from a brief tour of duty in the Algerian War (with a popped eardrum that left him partially deaf) and found that the way people shopped had drastically changed--mom-and-pop boulangeries had given way to supermarkets. Holder realized where the future lay and within five years persuaded two future multibillion-dollar French supermarket chains — Monoprix and Auchan — to carry his baguettes and loaves.
While he clearly had the ambition, Holder was ill-prepared to manage such a fast-growing company. He had to move factories three times in a year because the company continually outgrew its space. "I never made projections about what it would be in 10, 20 or 30 years," says Holder, who kept the books himself back then.
Then, in the 1970s, the supermarkets — locked in hypercompetition — began demanding bigger and bigger discounts. His 11% discount soon became 45%. He also had to buy back unsold bread at the end of the day. Holder's factory fell below break-even, and he realized he had to diversify beyond the commodity bread business. He reorganized the factory to keep its existing customers, producing about 1 million pounds of bread a month, but he no longer invested in expanding it. During moneylosing periods, he converted areas of the factory into parking spaces and sold them by the month. Over the years, he learned to renegotiate contracts to protect future profits by locking in prices, and he stopped taking back unsold loaves.
With the low-margin industrial bread operations stuck in neutral, Holder refocused on the Paul bakery, under the family apartment. "I still had nostalgia for craftsmanship," he explains. Paul was selling thick, chewy, yellow bread with a slight hazelnut taste — drastically different from his factory bread — at a time when the number of local bakeries in France had dwindled by about 25% amid competition from supermarkets. He decided to make Paul an artisanal chain and installed himself as head of the company. Holder opened two more stores in Lille before expanding to Paris in 1974. Then came shopping malls: As with supermarkets, Holder was early to the next wave of mass retail. Around the same time he toured the United States and became enamored of American food-processing methods. Holder helped found a successful chain of French bakeries and cafes, La Madeleine, before being ousted by his partners and returning to France.
Holder's second Paul store in Lille, France. Philip Jintes for Forbes.
By the end of the 1980s, Paul had 120 shops, about a dozen times more than at the start of the decade. Holder's experience left him better prepared for growth this time. To cope with high rents, he opened small retail locations without full kitchens and supplied them from a centralized bakery, delivering fresh loaves three times a day. That way, he avoided having to prebake or freeze bread — common among Holder's competitors, like Louis Le Duff (No. 822 on the Billionaires list, worth $2.9 billion).
With the Paul brand thriving — so much so that the head of McDonald's Europe tried to acquire it, with plans to increase growth from 80 openings a year to 2,500 — Holder was ready to go back to building the bread factory of his dreams, but with an important twist. "Some companies are interested in producing a lot, without quality," he says. "Moving away from the craft was never a question."
Building on what he learned in America, he spent millions on designing customized machines that would assemble the products the same way a baker would by hand. For croissants, the machine rolls out dough and spreads butter onto each piece. The layers are then stacked to make the flaky pastry. But these assembly lines don't change the amount of time the dough needs to set (especially necessary for breads that ferment with yeast) and cook. That was an important lesson from Holder's days baking with his father; most food companies have scaled up quickly by adding preservatives or chemicals that cut the length of time and increase production without adding storage demand.
THOUGH MACARONS MINT money for his company, Holder says he still doesn't really enjoy eating them. "I love flaky pastries," he says with a shrug. His fortuitous foray into pastel cookies began 25 years ago when he purchased Ladurée, the 19th-century Parisian tea salon known for its gilded dining room and pastel ceiling frescoes. The Holders were Saturday regulars, snacking on tea sandwiches and mushroom omelettes. "I wasn't going to Ladurée for their macarons," he admits. But he sure loved the baba au rhum pastry, despite not drinking alcohol. So when Ladurée's heirs wanted to cash out, Holder was the first person they asked.
At the time, he was in the market for a diversion. When he turned 51 — the age his father died — he begged his oldest son, David, to apprentice in case he should die. David accepted and spent the next two years working 15-hour days and losing 15 pounds. When he emerged from his apprenticeship, David started pushing his father to retire. And Francis realized that acquiring Ladurée, and sidelining David to run it, gave Francis more time for Paul and Château Blanc.
Going from brunch regular to boss, 25-year-old David supplemented Ladurée's four flavors of macarons with a seasonal menu, including passion fruit and salted caramel. In 1997, Ladurée opened a 14,000-square-foot flagship on the Champs-Elysées. The first international location opened in 2005 at Harrod's in London, followed by Tokyo and the U.S. two years later.
The more ubiquitous the macaron became, the more David faced a knockoff problem. He responded by positioning Ladurée as a bakery-inspired luxury lifestyle brand with a product line that included $65 candles (the first scent was brioche), $75 fragrances with atomizers and $20 boxes of teas.
While Ladurée took the high ground, Francis saw the macaron's mass-market potential and grew bullish on the cookie. "It wasn't a trend at all," he recalls. "Then we said to ourselves, 'Why don't we make macarons in Paul bakeries and elsewhere?' From that point, it became huge"— literally and metaphorically. One petite macaron, about an inch wide, costs about $3. Paul locations in France started selling larger macarons in 2005, and international stores adopted them soon after. Château Blanc had gone all in by 2007, when it built the automated macaron production line in Lille, the first in the world. It was just in time for McDonald's in France to launch its McCafé version the next year. Today's Château Blanc macarons are in more than 300 McDonald's in Europe. Then came similar white-label offerings for American customers — such as a limited-edition run at Starbucks and a line at Sam's Club.
How to speak Cookie in three easy lessons. Forbes
The gamble paid off. Over the past decade, the macaron has replaced the cupcake as the pastry du jour in America, where there are nine Ladurée locations (run by Holder's 45-year-old daughter, Elisabeth, from New York) and 12 Paul shops (overseen by Paul International's head, 48-year-old son Maxime, from London). Under Maxime, Paul has added over 250 stores outside France.
And despite more than 60 years as a baker, Holder remains hungry. He dreams of opening a Château Blanc factory in the United States, where he hopes to replicate his success in Europe. "In France, people tend to forget that when we become successful, it is because we are brave," Holder says of his all-American ambition. "In the United States, someone who takes risks and succeeds is a hero."
Must Read: Little Book Of Billionaire Secrets
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69bd9037d701020df265fcf5a56394d9 | https://www.forbes.com/sites/chloesorvino/2018/11/19/the-wonderful-company-co-owned-by-one-of-americas-richest-self-made-women-is-accused-of-pregnancy-discrimination/ | The Wonderful Company, Co-Owned By One Of America’s Richest Self-Made Women, Is Accused Of Pregnancy Discrimination | The Wonderful Company, Co-Owned By One Of America’s Richest Self-Made Women, Is Accused Of Pregnancy Discrimination
When billionaire Lynda Resnick took the stage at a female empowerment conference in her hometown of Los Angeles earlier this year, she opened up about what it means to be a woman in such a critical time in history. “Every day we face an onslaught of reminders of just how far we need to go. The gender pay gap remains,” Resnick said. “Far too many industries still fall short when it comes to females in leadership roles. And the MeToo Movement has highlighted lingering sexism that for too long was considered just a part of doing business.”
As the 10th richest self-made woman in America, Resnick is a pioneering entrepreneur who has become both a prominent philanthropist and a role model for young women. Before meeting her second husband, Stewart, in 1970, she was a single mom of two who was struggling to build her own advertising agency. Today the couple owns The Wonderful Company, which had $4.2 billion in 2017 sales from its Fiji Water, Pom Wonderful pomegranate juice, Wonderful pistachios and almonds, Halos mandarin oranges and more. Combined, they are worth $5.6 billion.
Stewart and Lynda Resnick, the billionaire owners of The Wonderful Company. The Wonderful Company
But inside the marketing and product division that Resnick, 75, heads up, five former employees say Lynda is hardly a shining example of glass-ceiling breakers. One of these five has filed a claim against the company—alleging pregnancy discrimination and wrongful termination—which is now in private arbitration, Forbes has learned exclusively. This case comes five years after the company settled a lawsuit stemming from similar allegations. The other four employees, all of whom spoke to Forbes, describe a culture hostile to pregnancy and working parents, though none of them sued the company or filed any claims. Wonderful denies these allegations.
The arbitration, which started on November 12, involves a former marketing director who alleges pregnancy discrimination and wrongful termination. The former director, who spoke to Forbes before the arbitration began and asked that her name not be used for fear of retribution by future employers, says that she was fired in 2016 while she was home on maternity leave taking care of her newborn. She had planned to take 16 weeks of leave, as covered under California’s Family Rights Act, but was fired exactly 12 weeks to the day after she started her leave.
The federal Family and Medical Leave Act covers 12 weeks of unpaid but job-protected leave for most employers, and federal law also allows for an additional four weeks unpaid if a doctor confirms a mother is temporarily disabled under the Fair Employment and Housing Act. “My job was terminated the day my FMLA expired, exactly twelve weeks to the day,” she says. “And in California, you're still covered under CFRA.”
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In the months leading up to her maternity leave, the former director says her work was increasingly called into question. “All of a sudden, I was blackballed because I chose to have a child. I was getting scrutinized for everything. Everything I was doing was wrong,” she says. Then, she says, a few weeks before giving birth, “I was told that Lynda was very unhappy with me. And I asked why, and I wasn't offered an explanation.”
The former director also alleges that a year before, in 2015, she was vying for a promotion, and during a one-on-one conversation in which they discussed the potential new role, Lynda asked if she was pregnant, which lawyers told Forbes would be considered illegal under both California and federal law. Over the course of eight years working at Wonderful, she says she witnessed “backlash” against women under Lynda’s management who became pregnant and took maternity leave within their legal limits. “As my leave was approaching, I knew my job was at risk because I had seen it happen to a lot of other women,” the former director recalls.
Because of a clause in her employment contract that requires arbitration and prohibits filing a lawsuit, the ex-employee could not take her case to court, a fact that likely works against her. “There are two big hurdles in this case. Number one is that it is in arbitration. It is a notoriously unfriendly venue for employees in California. Number two is that pregnancy discrimination cases are notoriously difficult to prove,” says Pamela Sayad, a San Francisco based employment law attorney. The status of the arbitration is not known at this time, and any settlement won’t likely be made public. The former director has not returned calls since the hearing started.
A spokesperson for Wonderful, who spoke to Forbes before the arbitration began, says the claims are false and that the company is fighting the case with its team of in-house lawyers. “Central to our company culture is our commitment to providing every employee the opportunity to balance work with raising a family. We have nearly 10,000 employees, and a high percentage are young people at the point in their lives when they are ready to have children,” a company statement reads. “We celebrate the creation of families, and proudly stand by our policy of being one of the most family-friendly employers in the country.”
Some of the brands owned by The Wonderful Company. The Wonderful Company
The statement adds, “While we cannot comment directly on pending litigation, we can share that the employee in question was laid off as part of a much larger reduction in force when that business unit lowered its permanent headcount by over 20 percent. The difficult decision to let any employee go is always based solely on their performance or the company’s business needs.” The former employee counters that “there were other positions available within one of our companies that they could easily have offered me, and that I was more than qualified for.”
Forbes also uncovered a lawsuit from 2012 against Roll Global, which was renamed The Wonderful Company in 2015, for pregnancy-related discrimination. That case, filed by former web designer Helen Svensson, details how Svensson took two months of unpaid leave under California’s Family Rights Act for “baby bonding” and returned with roughly three weeks left of her legal allowance for baby bonding—which is 12 weeks. She was fired the day she returned to the office. “The excuse was that there was not enough work, which Plaintiff knew to be false,” the court documents state.
The lawsuit, which has not been previously reported, detailed allegations of how employees openly knew that the company, then called Roll Global, had a “culture of not employing individuals who wanted to have children.” The complaint goes on to assert that Svensson’s supervisor, as well as other, higher-ranking company officials, told her that “this culture existed.” Still, Svensson “made her opposing views known to her supervisor.” The parties settled the lawsuit in 2013, and Svensson, who likely signed a nondisclosure agreement as part of the deal, did not return requests for comment. Wonderful declined to comment on the litigation and settlement.
Combined, both cases are “pretty striking,” says Joan Williams, a leading labor lawyer. “The kind of open discrimination that these reports indicate is pretty unusual in a sophisticated company in this day in age. When we were founding this area of law in the late 1990s, this was the kind of open discrimination against mothers that was very commonplace,” says Williams, who is the director of the Center for WorkLife Law at University of California Hastings. “It does seem that this company is in a bit of a time warp.”
Wonderful denies that there is a pattern of pregnancy discrimination within the company. But stories from four additional former employees raise the question of whether it might be part of its broader culture.
The former employees who spoke to Forbes did so on the condition of anonymity for fear of retribution from future employers. Their stories are not pretty. Take the experience of a former executive who says she got pregnant three times while working at Wonderful over six years. The first two came when she was a more junior employee, so she notified only her supervisor. But when she became pregnant with her third, she was reporting directly to both Lynda and Stewart. When she sat down to tell Lynda, it “did not go well.” She recalls Lynda telling her, “I guess that’s good for you, but that’s bad for us.” The former executive adds: “I think they think by having kids, you have to take some time off, then you compromise your dedication to the work. It’s almost like they feel like after you have kids you’re just going to slack off.”
She was disappointed in the reaction and, over the course of the next few months, the former executive says she felt that Lynda, in particular, was “more critical” of her work. “I was 100% committed and believed in the company and the Resnicks—up until the moment I told Lynda I was pregnant with my third child,” the ex-executive adds. More than eight months into her pregnancy, she quit.
Another former director, who worked at Wonderful for five years, says pregnancy took away some opportunities. In 2016, she was late in her pregnancy and responded to a question that Lynda asked her in a meeting. Her answer was apparently incorrect. Resnick snapped at her and questioned whether she was lying in front of a group of executives. “It was a very negative encounter, and after that my boss said, ‘Well, we just won’t have you in meetings until you’re back from maternity leave,’” the former director recalls. “It was widely known that she didn’t like pregnant women.”
While Wonderful denies that Resnick didn’t like pregnant women and insists it is family friendly, Gillian Thomas, a senior staff attorney at the ACLU Women's Rights Project, says it’s unusual to hear accounts of the person in charge making such comments. “It is exponentially damaging to have open bias towards pregnancy and caregiving from the highest ranks of the company.”
—Sue Radlauer contributed to this report.
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1a61f756cc52cdbf5d0bf3b21d618ca3 | https://www.forbes.com/sites/chloesorvino/2019/05/15/boxed-partners-with-grocery-chain-lidl-exclusive/ | Boxed Partners With Grocery Chain Lidl: Exclusive | Boxed Partners With Grocery Chain Lidl: Exclusive
A typical shipment from Boxed, which prioritizes selling high-velocity items in its online store. Lucy Schaeffer Photography
Boxed, the digital retailer known for bulk sizes and just 1,600 products in its online store, will now license pieces of its end-to-end technology to its first grocer. The startup now offers delivery to Lidl customers in parts of both New York and Georgia, as it tests out a partnership with the fast-growing chain. Boxed customers in those areas will now also have access to fresh meat and produce delivery for the first time.
While grocery-delivery app Instacart has recently inked high-profile deals with Costco, Kroger, Albertsons and Publix, Boxed is betting on Lidl, the German grocery chain which expanded to the U.S. in 2017. Its 68 stores, mostly in the Southeast, are mainly stocked with the chain’s own private-label products. The real potential for Boxed comes with Lidl’s global footprint, which tops more than 10,500 stores in 29 countries.
“This is just the first test,” says Chieh Huang, CEO and cofounder of Boxed. “But as the partnership gets deeper, we can bring a lot more to the table.”
Boxed is one of the leading startups in the food logistics business. In September 2018 it raised $111 million in Series D funding that valued the firm at $600 million. In all, it has raised $250 million from investors like Greycroft and Founders Fund. The company declined to provide sales and last released the figure three years ago, when it surpassed $100 million. A representative for Boxed only said “it has increased significantly since then.” The company is not yet profitable—but Huang says it is on track to be soon, and the Lidl partnership will surely help.
Chieh Huang, cofounder and CEO of Boxed. Getty Images for Inc
In the ever-challenging grocery industry, any possible edge over competitors matters. Recently, that’s created a healthy appetite for acquisitions, particularly among delivery startups. After Walmart spent $3.3 billion to acquire Jet.com in 2016, a panic set in across the rest of the industry. In 2017 alone, Plated was acquired by grocery giant Albertsons for a reported $200 million and Target spent $550 million to acquire Alabama-based Shipt.
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Boxed then started to attract its own offers. In January 2018, Kroger reportedly bid $400 million for the startup, but Boxed’s board voted against the deal. Amazon, Target and Costco also were said to have expressed interest in acquiring Boxed, and Huang met with these companies (and even Jeff Bezos) to talk about potential deals. In the end they did not submit formal bids.
It all taught Huang a crucial lesson. “We found out that the technology we built is actually really valuable and that we could use it to really bring most grocers, whether in the U.S. or around the world, into the 21st century pretty quickly,” says Huang. "I don’t think a lot of folks really believed me when I said we were staying independent. Now that we’re licensing the technology out, it shows that we’re in this for the long haul."
In fact, Boxed is one of the only end-to-end platforms like this in the world. IBM can build a company’s warehouse management system, and Salesforce can build the management system to track purchases. Delivery apps like Instacart and Shift can handle the transport. But globally the only other companies with the kind of combined capabilities that Boxed now has are some of the most prominent tech giants out there: Amazon, Alibaba, JD.com and Ocado.
“Because we started off with no resources and a completely blank slate, we were actually forced to build our own solutions,” says Huang. “We didn’t have the money for a sales force or to call up SAP or Oracle or for an off-the-shelf software like Shopify or Squarespace. And we knew it wasn’t going to be sophisticated enough as we got into the hundreds of millions, if not billions, of sales.”
A Lidl store in north London. BLOOMBERG NEWS
Now, Huang says Boxed will offer these different kinds of “plug-and-play” solutions to any company that needs it. While Boxed has become well-known for limiting the products it sells online to maximize its own profit, Huang says the software works for any number of items and can be tweaked to fit the needs of any business.
So is Boxed now handling how Lidl warehouses its products, too? Huang says not just yet, but that it could come eventually. Lidl and a lot of regional grocers only maintain local warehouses, so Boxed, for example, could start storing products for Lidl’s in-house private-label brand and distribute it across the country for the first time, delivering it in two days or less. Boxed could also build Lidl a website that can tell each customer the exact expiration date that the item in their cart will have. Because the website that customers use is tied to Boxed’s warehouse management system, the company knows exactly which pallet the item will come from by the time the order is filled. Currently, Boxed is the only retailer that offers this level of detail to its customers.
Huang hopes Boxed’s new focus will be worth it: “Partnering with Lidl certainly would not have happened if we had merged with anyone a year ago. Food retail across the globe is probably even more in flux than it was. The opportunities for us are even larger today. I don't think we would’ve maximized them if we had merged with someone.”
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e4d38632c6acdbdcc026ef056fed1f26 | https://www.forbes.com/sites/chloesorvino/2020/05/13/the-worlds-largest-food-and-restaurant-companies-in-2020/?sh=5205ed8a262d | The World’s Largest Food And Restaurant Companies In 2020 | The World’s Largest Food And Restaurant Companies In 2020
DiGiorno's rising crust pizza. Corbis via Getty Images
Call it panic buying or stockpiling, but the coronavirus bump has the food and beverage industry soaring.
The top 25 companies in the sector generated $815 billion in revenue in the past year, up slightly from $800 billion in revenue in 2019, while profits for the sector increased to $91 billion, from $80 billion last year.
Nestle is again the world’s largest food company, holding onto the top seat in the industry as sales of its frozen staples like Hot Pockets, Stouffer’s and DiGiorno surge alongside coffee brands like Nespresso. The Swiss-based conglomerate sees 30% of sales from the U.S. and added overtime shifts to many of its nearly 70 stateside factories to meet increased demand.
Nestle's profit last year neared $13 billion, an increase of 30%. It's one of the key metrics that Forbes uses each year to analyze companies as part of the Forbes Global 2000 list—the comprehensive ranking of the world’s most powerful public companies as measured by a composite score of revenue, profit, assets and market value. On the list overall, Nestle ranked #41, up one spot from last year.
Nestle was briefly dethroned by Anheuser-Busch InBev in 2018 but has otherwise held the title of top food company for more than a decade. This year, AB InBev ranked second, after taking a $2 billion sales hit as coronavirus shutters bars and stadiums across America, and is followed by Pepsi in third.
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Kraft macaroni & cheese is a bestseller for Kraft-Heinz. AFP via Getty Images
Kraft-Heinz surged into the eighth spot for the food industry this year, as center-aisle staples find renewed popularity among customers looking for longer shelf-life amid stay-at-home orders. It ranked as No. 222 on the list overall. The success comes after a tough year, which included a $15 billion write-down of its Kraft and Oscar Mayer brands, slashing its dividend, disclosing an SEC probe into its accounting and installing a new CEO.
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705c1089661dfb9b0d1f875e39fba0dc | https://www.forbes.com/sites/chloesorvino/2020/06/27/investors-are-looking-for-diversity-one-black-founder-offers-some-advice-on-what-not-to-do/?sh=1a8d9663a139 | Investors Are Looking For Diversity. One Black Founder Offers Some Advice On What Not To Do. | Investors Are Looking For Diversity. One Black Founder Offers Some Advice On What Not To Do.
Trinity Mouzon Wofford runs Brooklyn-based Golde, the wellness brand known for superfoods masks and ... [+] power blends that has seen a 10-fold sales increase in recent weeks. Golde
When Trinity Mouzon Wofford found herself ghosted by an investor after a fundraising round for Golde, her wellness brand startup known for superfoods, masks and turmeric drink blends, she chalked it up to timing: the round ended just as the pandemic was shutting down the U.S. economy. Three months later, as Black Lives Matter protests broke out across the nation and a national reckoning over dismantling institutional racism deepened, the Black founder then received an email from the long-time supporter who was suddenly offering to write a check.
The months of silence were hurtful to the CEO who was named to Forbes’ 30 Under 30 Food and Drink list last year with her fiancé Issey Kobori, following a deal that made her the youngest woman of color to ever launch a brand at beauty retailer Sephora. Now, with sales surging 10-fold in just a few weeks thanks to the increased attention given to black-owned businesses, the investor, a white woman, had reappeared with a tepid form of outreach that offered no explanation for her timing or apology for the months of silence.
“I was counting on your check,” Wofford wrote back after a few days of pondering how to reply. “It never came through. That sucked. I'm not sending you this email to be punitive, but I just hope that you'll think about this more when you look to support founders.”
The investor did apologize soon after, but the exchange has left Mouzon Wofford mulling the delicate balance Black entrepreneurs face when running the circuit of mostly white investors, especially at a time when inclusion has become a rallying cry across the business community.
“Anytime that an investor has openly disrespected me like that, I've counted them out,” Mouzon Wofford says, who has since accepted the investor’s eventual apology. “The difference between what feels performative and what feels genuine is big. The first step that a major corporation or an individual takes might be superficial. But once they take that step, that creates an effect.”
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Trinity Mouzon Wofford and Issey Kobori cofounded Golde at 23 years old. Issey Kobori
The exchange has led her to take a hard look at the ways Black founders may be able to use the increasing amount of interest from new investors — some of it inauthentic and tokenizing — emerging out of the Black Lives Matter movement to create true systemic change.
“There is literal, tangible momentum happening here,” Mouzon Wofford says. “Whether a certain percentage of those people bought my product because they just knew that they needed to buy a Black-owned brand, and our stuff was really cool, that's okay. Because it translated to real dollars that I now use to enact meaningful change. I can use those funds to hire more people.”
She offers advice for investors seeking diversity in their portfolios:
Acknowledge the awkwardness.
“There are the investors that reached out in a way that felt bad. You're reaching out to me because you now realize that you need to include Black voices. On a personal level, I'm still processing. But it's better to own why you're reaching out. Try, ‘I'm reaching out to you because I saw you in XYZ publication about Black-owned businesses,’ or ‘because I've known about you guys for awhile and the movement to support more Black-owned businesses is really top of mind for me.’ It's okay to say it, because it's a little weird to not say it.”
Own it.
“If you disappear on someone, apologize, and say if you're open to it, I really do still want to connect. That would not have been problematic. Shit happens and people get busy. Sometimes we don't always behave as we would ideally like to professionally. Not owning it is where a problem arises. I've seen so many individuals and brands come out and say ‘we have a lot of work to do. These are all the things we're doing that have been ineffective or unintentionally racist.’ Listen, but fix it.”
Don't just check a box.
“We're a capitalist society. The founder does need the investor's money. But I really think that investors should think a little bit about the power that they hold and be a little bit more thoughtful about how they wield it. Can you think about why exactly you're suddenly reaching out to me now, with interest in that space? That behavior is actually just very par for the course with the investor-founder dynamic, which I think is very messed up. An investor can just do whatever they want. They can promise you the moon and then they can just disappear, because you're the one getting their money. And there's always going to be a piece of that. You can't get rid of that.”
Do the work.
“I've been disrespected by investors, white and Black. But when I do connect with an investment fund that has diversity or that specifically has a Black woman in a position of power, it really gives me a unique visibility into their values. I wouldn't turn down investment from a really great though not diverse team, but if the team is diverse, it helps point me in the direction that this is a thoughtful organization, that they're not necessarily bullies who are just trying to close deals and then drive founders.”
Further Reading:
Reflections On Bias: Koia’s Female Founder – And Only Black Employee – Has A Recipe For Change
The Odds Are Stacked Against Women Of Color Seeking Venture Funds. But This Cookie Startup Broke The Mold.
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f75ba7e000493a3f08471d1169d8e74f | https://www.forbes.com/sites/chris-perry/2020/09/29/returning-to-work-wont-be-easy-have-a-plan-for-it/?sh=5ebf76dd1894 | Returning To Work Won’t Be Easy. Have A Plan For It. | Returning To Work Won’t Be Easy. Have A Plan For It.
Returning to work will likely be a hybrid of office and home. Shutterstock
Reports that JPMorgan Chase & Co. JPM ordered senior employees in its sales and trading groups to return to the office by Sept. 21 have fueled a discussion about whether and how other companies should make that same transition.
When COVID-19 forced financial firms to relocate their operations from well-equipped office buildings to employees’ homes, they were simply trying to survive and maintain continuity. As the experiment has worn on, both employers and employees have realized some unexpected benefits.
There’s data showing that, as we’ve begun working from home, productivity has increased, employees feel that time management has become more flexible, the costs of commuting and maintaining offices have declined, and businesses have greater accessibility to global and diverse talent. Of course, there are also some problems that have emerged from the long period of working from home: the back-to-back video calls, the move from work-life balance to work-life integration to work-life invasion. Businesses are starting on the difficult task of reconciling their own needs with what works and what doesn’t for their employees.
A recent Broadridge BR survey that examined our own workforce and many of our clients’ workforces, as well, offers some findings that can be used to guide the best approach for establishing the workplace of the future, drawing from the strongest features of working from home and the office as businesses push to reopen. As president of Broadridge, with 12,000 associates distributed across 17 countries, each amid a different stage of the pandemic, I’m intimately familiar with this balancing act.
Our Broadridge Return to Work survey shows that our associates have, for the most part, adapted well to the remote work environment. The poll says that 88% of associates feel they have the resources to work from home, and 95% feel able to effectively perform their job remotely. While 53% of associates hadn’t previously worked from home, 92% report that, for them, working at home at least two days per week is optimal.
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From a manager’s perspective, there are some benefits to working remotely. A study published in the Quarterly Journal of Economics cites a 13% increase in productivity when people work from home. (Workers were more effective because their environment was more convenient, and they took fewer breaks or sick days, the study said.) Having people work from home makes it easier for managers to develop plans that ensure employees are socially distant, particularly those who feel sick or at risk because of underlying conditions. Remote workplaces are also allowing companies to broaden their search for the most talented workers as location becomes less of a barrier than in a traditional workplace environment.
Yet there are other important factors that need to be weighed. Many workers miss some aspects of office life, including socializing with colleagues, access to larger, different spaces than they have at home, and more opportunities for collaboration and career development. They also appreciate having a clearer line between work and home. Some people report feeling isolated or depressed working remotely. One study found that after 9 months of working from home, 50% of participants chose to come back to the office. In our Return to Work survey, taken after only a few months, 23% percent of Broadridge remote associates wanted to return to the office. This data shows how important it is for people to have choices.
The big question companies face is how to balance these benefits and drawbacks of working from different locations once social distancing becomes less necessary and as they plan for the return to work. At Broadridge, we will be facilitating working both from the office and remotely to take advantage of each situation’s respective strengths. The final model will be driven by how our clients adapt, and by our ability to attract top talent in the industry.
There are going to be a lot of moving parts to the eventual solution. After all, it must blend settings and personnel in a way that optimizes collaboration, innovation and productivity as well as employee satisfaction and engagement. We’re going to have to operate in a manner that gives people working anywhere a sense that their role in the process isn’t determined by their location, but by their performance and impact, and that they have the latitude to deliver in a new and different way.
That’s going to involve establishing best practices for running meetings and maintaining connection between colleagues and managers, assessing performance and providing continuous feedback on results and outcomes. A key part of our task is going to be creating a culture that focuses on results over how individuals achieve them, and empowering workers to manage workflow so that they can succeed no matter where they are. And because we’re focusing on results, when we see clients and competitors improve their models, we need to be agile enough to learn from their examples and incorporate what works for our teams.
This approach will require support to ensure that we are providing employees with the necessary technological infrastructure to maintain a level playing field, no matter the location. We’ll also need to have HR help with tools to assess our work models and protect workers from the particular stresses of remote work, such as feeling isolated, depressed or burned out. And these processes will need to be codified so that they become part of how we respond and help our teammates when they need it. We think of it as FACS — Flexible, Accountable, Connected and Support.
We must be a flexible employer because all 12,000 associates are dealing with different situations, from childcare, schooling, elder care, commuting and their own mental state. Today’s company must offer flexibility with trust. Of course, flexibility does not mean an absence of accountability. Rather, with the gift of trust, associates must be even more accountable and deliver on their terms. For all of this to work well we must be connected, communicating like never before; top-down, bottom-up, peer-to-peer, internally and externally. Communication ensures that barriers don’t arise just because we’re not seeing each other in person.
How we manage our office space is also going to change. These changes should help facilitate collaboration between people in the office and those working remotely, while also increasing the informal encounters with colleagues throughout the organization that make being in the office feel rewarding.
Having fewer people in the office will lead to a reduction in space. This is going to be important for all businesses, as the cost of office space averages $12,000 per employee annually, meaning a smaller footprint is a huge opportunity for cutting costs. Our goal will be to shrink offices by up to 50%, while closing some smaller spaces where possible. We’re going to establish hubs in major locations and implement hoteling — that is, reserving space and resources ahead of time — for almost everyone working from the office. We’ll also have to reach agreements on how to allocate space for group meetings and ad hoc needs, perhaps relying on outside locations for certain purposes. While social distancing remains in effect, we’ll limit office attendance to 25% of capacity, increasing to 50% when restrictions are reduced.
We’re going to need to provide a rhythm and structure so that this “new normal” feels, well, normal, and so that everyone gets the most out of their time together. One foundation of that structure is scheduling, where teams rotate in and out, for example on two-day cycles. We’ll determine which teams benefit most from regular collaboration, as opposed to those who do best with a monthly meeting, which can be planned differently.
We’re also going to be scheduling work meetings between managers and teams. Behind that thinking is research showing that formalizing a virtual team’s goals, roles and communications processes at the beginning improves effectiveness. We’ll also work to level the playing field for remote and in-office workers during meetings. One step in this direction is using video conferences as our default, so that remote workers can pick up nonverbal cues, and establishing protocols so people “in the room” don’t dominate discussions. And because we view remote and in-office work as equal, we’re discouraging the idea that people need to be in the office just because their boss is. Understanding that people appreciate the informal mentoring that comes from face-to-face contact, we’ll focus on ensuring there are career development opportunities in this new context.
And while most of us now take access to remote working for granted, some of our associates live in places with limited access to broadband, or have problems establishing privacy. We are developing plans to incorporate them into the workflow.
By considering the needs of those working both in the office and remotely, our goal is to build a culture where we share a sense of purpose and can forge bonds that bridge whatever our physical locations may be.
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bdf426387e80c7fec7b0ab5ef9aee467 | https://www.forbes.com/sites/chrisbarth/2011/01/19/want-a-million-dollars-just-ask-for-it/ | Want A Million Dollars? Just Ask For It | Want A Million Dollars? Just Ask For It
Sometimes, all you have to do is ask. Craig Rowin learned that lesson the easy way. The 26-year-old New York native took to the internet last November with a simple plea: “Please give me one million dollars.”
As luck would have it, Rowin’s cry for cash found a willing set of ears in Benjamin, a millionaire from New York. As Rowin announced today via YouTube, he has reached an agreement; “He will give me one million dollars and I will owe him nothing in return.” The transfer will happen in person on February 2nd, live on stage at the Upright Citizens Brigade Theatre in New York City, where Rowin, a comedian, often performs.
I talked to Rowin today, and he confirmed that he will indeed be receiving a cool million.
“I found out for sure about two weeks ago,” he told me. Benjamin, whose last name will be revealed during a Q&A session at the UCB show, contacted Rowin via, “email, phone call, letter – every means of modern technology.”
“I’ve gotten hundreds of emails, but this is the first one that was legit.”
In the first video, Rowin addressed individual millionaires, asking them to spare some change. “Al Roker, I met you once, remember?” he says, pointing to a picture of his younger self standing next to the familiar broadcaster. “Gimme a million dollars.”
“I remember making the video, and I turned to the guy directing it and I said, ‘You know, we could make one million dollars,’ " Rowin told me. "And he said, ‘No, that definitely won’t happen.’ That has been the common thing – it definitely could happen, but also it could just be a video.”
When the first video didn’t work immediately, Rowin expanded his options, inviting corporations to donate to his cause (or lack thereof). He included Forbes in his list of possible benefactors, saying, “Forbes. You make a magazine about millionaires! I think it would be pretty ironic if you made me a millionaire. Please do so.”
Today, with $1 million headed for his bank account, Rowin is likely reveling in the modern age. “Obviously, the internet has prevailed.” He does realize that he’s not breaking new ground at the age of 26, though. “I’m a year older than Mark Zuckerberg. He beat me to it.”
Perhaps the most interesting aspect of Rowin’s plea is his lack of justification. In each of the videos, he reiterates that he has no concrete plan for the money. In the first, he simply says, “I don’t need it for anything specific, but I think it would be awesome.”
As for what he plans to do with the cash, Rowin says, “Definitely a new DVD player, maybe a Blu-Ray. And I might get some new pants.”
Does he plan to follow up with a plea for a billion dollars, perhaps tapping into a member of the Forbes 400? “I mean, if this worked,” he said, “why not?”
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f25a940577aa605a16179ed52a8a319a | https://www.forbes.com/sites/chrisbarth/2011/04/04/the-top-ten-ma-deals-from-most-active-q1-in-years/ | The Top Ten M&A Deals From Most Active Q1 In Years | The Top Ten M&A Deals From Most Active Q1 In Years
Global and domestic mergers and acquisitions activity was up in the first quarter of 2011, hitting Q1 levels not seen since 2007, according to a report released by mergermarket over the weekend. Global M&A was up 28.9% compared to the first quarter of last year, while the U.S. saw an increase of 85.1% over the same time period. North American deals comprised nearly half of global M&A value, as the region contained 49.6% of all M&A dollars.
Energy, Mining & Utilities was the most active sector, with 249 deals totaling $155.8 billion in value. The Industrials & Chemicals, Financial Services, Telecommunications and Consumer sectors rounded out the top five most active industries. Telecommunications, notably, had far fewer deals than the other most active sectors; it earned its place on the leader board on the shoulders of the quarter’s biggest deal – AT&T’s acquisition of T-Mobile USA, which is valued at $39 billion. mergermarket’s Top Deals table also includes Deutsche Boerse AG’s announced takeover of NYSE Euronext, although that deal is still far from a done deal in light of NASDAQ and ICE’s recent counter-bid. (Check out the top 10 Q1 Deals in the gallery below.)
Gallery: Q1 Top Deals 10 images View gallery
Additionally, more and more buyouts are being funded by private equity firms, both in terms of value and volume. 9.6% of all M&A activity in Q1 2011 came in the form of private equity buyouts, compared to 7.1% in the first quarter of 2010.
I spoke with Bill Priest, CEO of Epoch Investment Partners, in February of this year about M&A activity. His Global Equity Shareholder Yield strategy attempts to find companies that return money to shareholders in the form of dividends and share buybacks, so he keeps a careful eye on mergers and acquisitions.
“The debt markets are very liquid, it’s easy to get money, and organic growth is very low,” Priest told me. “So if you’re a CEO, the pressure on you to grow your business is quite high.”
Companies that are under-levered, “wind up being targets for the private equity guys who are able to raise money and then put more debt on it,” says Priest. “That sometimes works out and sometimes it’s a disaster. “
“It would not surprise me – given what’s going on today and with the private equity guys cranking up again – that we’ll see [increasing M&A],” he said.
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