As an entrepreneur who bootstrapped my company, ReTargeter, with less than $50,000 in funding, I wanted to share some of my tips and lessons learned. Efficiency, values and community have served as the three pillars of our success — from bootstrapped beginnings to growing north of a $10 million run rate.
What does efficiency mean? Leverage the 80/20 rule
What is the 20% that matters? What do we have to be doing to drive revenue? What should we not be spending time on? What is the 20% of the business that results in 80% of the profits? When you are small and resource strapped, efficiency throughout your organization is a must. Leveraging the 80/20 rule, or Pareto Principle, has been instrumental in our ability to scale.
We leveraged this theory to ensure we always focused on what was important, and we continue to do so. Always knowing where your energy should be focused — projects, customers, new initiatives, hiring — can help transform your organization from running at status quo to becoming a rapidly growing industry leader. (read more…)
Sweeping immigration reform legislation being considered in Congress could bring about positive change for employers, in particular granting them access to deeper pools of talented foreign workers, said speakers at the SHRM 2013 annual conference in Chicago. However, the legislation could also introduce new dangers, and HR professionals should start taking stock of their workforces to determine the fees they could incur.
Here’s a rundown of the elements of immigration reform that employers should be paying attention to, according to Michael Aitken, SHRM’s vice president of governmental affairs, and Lynn Shotwell, executive director at the American Council on International Personnel.
More visa options for foreign workers
The Senate immigration reform bill would double the number of green cards available to foreign workers by providing exemptions to the spouses and children of foreign workers. In other words, the family members of foreign workers would be able to use exemptions in stay in the U.S., instead of having to obtain green cards that could otherwise go to other qualified workers. (read more…)
Last week, we asked: Where do you spend the largest percentage of your time at work?
- Developing and coaching my people: 19.02%
- Managing day-to-day operations: 46.77%
- Setting the long-term direction and defining strategy: 10.3%
- Meetings and steering committee sessions: 11.17%
- Dealing with crises and major issues: 12.74%
Get out of the weeds and lead. About 70% of you are focused on the weeds — day-to-day operations, meetings and crises dominate where you spend your time. Remember — you manage things and you lead people. There is a huge difference between leadership and management. Making the shift to a leadership focus requires you to spend most of your time developing and coaching your people or setting direction and strategy. Leadership is about setting direction and inspiring others to get to the destination. (read more…)
For more on The Cable Show 2013, please check out Cable in the capital, a Special Report recapping the show.
The Cable Show fully embraced all things digital for the consumer in 2013, including video on demand, personalized content recommendations, second-screen social media applications and targeted advertising.
But Red Touch Media CEO Wayne Scholes thinks that when it comes to internal communications — between content providers, media buyers, retail partners and advertisers — the move to digital has been painfully slow.
“We are about the most analog industry that you can possibly imagine. We still give DVD screeners out. We still send out VHSs sometimes,” Scholes said during an interview at Red Touch’s Cable Show booth. “We’re talking to the consumer and convincing them that it’s all digital, and yet internally, we’re all DVD. That’s not communication. That’s sending out a packet once a week.”
Red Touch’s solution is called Bridge, a content management and distribution platform that can be customized to fit a particular company’s needs. (read more…)
It’s not every day that you get a peek at the heart of one of America’s most well-known physicians. But noted cardiologist Eric Topol, who is the director of Scripps Translational Science Institute, gave the audience just that at AHIP’s Institute 2013. He also gave them a glimpse of the future of health care, according to his worldview. It’s a future dominated by digital technologies, with health care more personalized than ever, thanks to the sequencing of patient genomes, and with many mainstays of modern medicine conspicuously absent.
Topol kicked off his fascinating talk with a tour of some of his favorite smartphone-compatible gadgets, including:
- a cardiogram device.
- a gadget that allowed him to conduct an ultrasound of his heart. Topol envisions the tool as a total replacement for a stethoscope and common, more costly cardiac ultrasounds.
- a sensor that showed his vital signs. Topol called it an “ICU on the wrist.”
And there’s so much more: devices to measure lung function, pills to gather data on adherence, a tool to assess vocal function to diagnose depression, sleep studies at home rather than in a clinic. (read more…)