Business Tribes Management Consulting

In the old days businesses were build on products and services. Today people and ideas prevail. Welcome Post

Cause - buy a business with passion

Mike Michalowicz of TPE asks for strategies on how to buy a business.

Ann Farrell, CPCC, PCC  is the Founder and President of Quantum Endeavors, Inc.

Ann Farrell is an executive, business and leadership coach who facilitates a powerful alignment between people and organizations for accelerated success. Ann writes "No matter how great the deal looks, and yes, do all of your due diligence to ensure that "looks" are not deceiving, at the end of the day, you have still Gotta Love It!! Make sure the business is one that will both fuel and feed your passion!"

Joseph Joel Sherman, Founder and President Business Tribes Management Consulting wrote “How To Buy A Business: Great businesses have a passionate cause driving them. What will drive you when the chips are down, when it seems the odds are against you? Working towards a cause you truly believe in will drive you to the next level.

Cause - Pensions for top executives and the tribe

  

Wall Street by Felix, 07

Ellen Schultz and Tom McGinty of the Wall Street Journal report that "Pensions for top executives rose an average of 19% in 2008, with more than 200 executives seeing pensions increase more than 50%, according to a Wall Street Journal analysis. The executive-pension growth stemmed partly from generous pension formulas, which are based on executive pay, according to the filings. Also adding to the pension jumps are arcane techniques that have received little scrutiny, including increases triggered when an executive reaches a certain age or when companies change interest rates used to calculate the pensions. Executive pensions rose even as the share prices at the companies declined an average of 37%...."

People will do anything for the tribe when people believe their leaders are working in the best interest of the tribe. If the cause is compelling enough, the tribe will climb the highest mountains. But, when it appears that the leaders are simply leaching off the backs of the tribe, the cause dies. Those who at one time cold climb mountains will have a difficult time getting over the next speed bump.

Create - Fashion Times, an interview by Roberta Lage and Elise Lefort

 “Fendi and Prada for Queen Rania of Jordan in Rome and Milan” by Fashion Times 

Roberta Lage is the Director of Roberta Lage Design of Malibu, California.

Elise Lefort is Fashion Editor – Direttrice di Moda of Fashion Times, Milan, Italy.

Fashion Times is an online magazine that shows a versatile world of fashion. 

Fashion Times writes about events held in the fashion world such as the latest tendencies in the world of fashion development, designers and production.

Fashion Times is available in Italian and English.

Roberta: This is my favorite magazine; I love the flare for exhibiting a casual and chic flare as well as a younger view of the fashion world. I believe that it is for everyone interested in fashion and a different approach to fashion.

Roberta: How did you create Fashion Times?

Elise: three young people created the magazine 2 years ago; Fulvio Aniello, Direttore Editoriale, and Elise Lefort, Fashion Editor – Direttrice Moda.

Daniele Cammareri was the Art Director. One year later, Daniele left us to continue his studies in another career in other direction.

Amelia Russo graduated form IED MODA Milan in photography. She joined us to cover the hi-tech section of the magazine, creating diversity, and making the magazine newer.

Fulvio studied political science at l’università Statale di Milano, he is in charge of the commercial part, editing and publishing.

Elise studied Fashion Design at IED MODA LAB Milano. “I love the fashion part, editing fashion and beauty news and interviewing people. I am in charge of Fashion and Beauty news editing.”

Roberta: What makes your team stand out? What is special about your team? I know you and Fulvio are partners right?

Elise: Yes, I know him for a very long time and now we are business partners. It is easy because we know each other very well.

Roberta: Where do you draw inspiration for your work/business?

Elise: My inspiration comes from the world around me, of society, fashion, actuality, story, and economy. I try to talk not only about the “big” of the Fashion World but also about new talents, new brands, and etc.

The important point is trying to always be interesting, not “banal” and exclusive. Studying a comprehensive Italian and international editing of other magazines is really important as well. But the important point is to have your own identity.

Roberta: How is your work unique?

Elise: I will not define it unique but enriching.

Everyday is like a new adventure. Working for yourself teaches you many things such as responsibility, organization and sense of business. You have to think about everything, not only about the “fancy part” of fashion but also about your entire business.

You have to be ready to think about work 24/7. Sometimes, it is not so easy.

Roberta: What are some interesting projects that you have been involved in?

Elise: There are many projects but our constant projects, focus are on developing and making this magazine.

We had a very important project against anorexia: Un Pixel contro l’anoressia e la bulimia (anorexia: a pixel against anorexia and bulimia). But the results were a little disappointing.

Fashion people are not ready to talk and invest on that. It remains theory and opinion. It is an uncomfortable topic.

Roberta: Could you please describe some current projects/ventures that you are developing?

Elise: many of our projects are kept secret, and the magazine has a new more fashionable format.

Roberta: Business Tribes focuses on Connect, Create, and Cause. Cause; people need meaning and purpose. Leaders help stakeholders develop purpose. How does these themes apply to Fashion Times?

Elise: Anorexia is for us a really serious matter that we need to consider it, as it has to be addressed.

Fashion is not the cause of anorexia. Sometimes people get confused thinking that anorexia is caused by bad images that magazines and models convey to women. That's not true. Anorexia is a mental and psychological problem. Our mission is to help these people, to remind them and to neglect them; by showing and supporting a healthy body image, beautiful and healthy people; men and women living well with themselves and their bodies. But Fashion is to support them like any other people.

For the interviews that we get, we try to interest the readers and to have various interviews with important people of the fashion system but with young and sometimes unknown people.

The important point is to understand that talking about fashion is to talk about the big ones who made the fashion history, and about the unknown and the future of fashion.

The new ones that have to write the new history of fashion; fashion has a meaning for all of these people. We display to our readers to meet the world of these two categories.

Roberta: How can people contact you?

Elise: People can contact me by e-mail, or writing on the website in the part: Contact Us (Contattaci).  My e-mail elise.lefort@fashiontimes.it is on the magazine also.

Connect - How To Embrace Your Competitors

Mike Michalowicz of TPE notes "We all know that trying to go it alone is a recipe for disaster. Success is all about finding strong partners. But partnering has now gone to the next level. The smartest businesses are reaching out to their formerly fiercest competitors and making them their strongest partners."

Many of the entrepreneurs address hit the theme by emphasizing the importance of connecting with people. 

Beth Silver of Doubet Consulting - "The best approach when partering with those in your field is to look at everyone’s key strengths and act accordingly. I love working with other marketers as different people bring different approachs and skills. Partnering with the competition is a sign of true strength not weakness!"

Marya Grier of The New Jersey Association of Women Business Owners - "Partnerships, affiliations, mastermind groups build collaboration, cooperation and communication. As women business owners, we can’t survive without these relationships. This promotes the continuing diversity of our members and their businesses, and provides us with opportunities for value- added products, services and resources. From a knowledge standpoint it raises our level of awareness of others difficulties and how we can help them and ourselves to accelerate our business results."

Christopher Dorrris - "Evolving Beyond Competition. How To Embrace Your Competitor: As we become more conscious as a species, we are recognizing that everything in the history of our universe, with the exception of man, has operated on the principles of cooperation, not competition. We are learning that the most effective way to “get” is to authentically give. So the best method of getting more of what you want is to adopt a mentality of abundance – there is more than enough to go around. And to practice helping those you formerly thought of as competitors as colleagues."

Joseph Joel Sherman of Business Tribes "Drop the personal grudge and move forward. People often hold grudges against a competing company, sometimes for years, despite a complete change in the personal and strategy of the organization they hate. Holding such a grudge may defy logic, and destroy shareholder value if it prevents healthy collaboration. As an entrepreneur, decide if you can drop the grudge completely, and if so, move forward. Determine if your collaborator can do the same. If not, find another collaborator that you can work well with."

Cause - Swimming in the Artic

In July 2007 Lewis Pugh swam one kilometer at the North Pole to raise awareness for global warming. The water was minus 1.7ºC and 0ºC (29F and 32F) and took 18 minutes and 50 seconds to complete. Even the video brings me chills.

Cause - Daniel Pink "What matters is the desire to do things because they matter"

David Rendall has a great post about Daniel Pink. In his TED talk, Pink explains: "If we really want to get out of this economic mess... the solution is not to do more of the wrong thing, to entice people with a sweeter carrot or threaten them with a sharper stick.... What matters is the desire to do things because they matter, we like it, it is interesting and we are part of something important. In my mind that new operating system for a business revolves around three elements. Autonomy, mastery and purpose. Autonomy, the urge to direct our own lives. Mastery, the desire to get better and better at something that matters. Purpose, the urning to do what we do in the service of something larger than ourselves." Dan compares the development of the encyclopedia by Microsoft Encarta vs. Wikipedia. Encarta was well managed and compensated. Wikipedia does not pay authors, it is free and anyone can edit it. From a traditional economics model, it would seem that Encarta would win, the well paid contributors would produce the best articles, and anything free from Wikipedia would be poor quality. Wikipedia has over 13 million articles built by communities in dozens of languages. I agree with Dan. People work best when they have a passionate cause.

Cause - What will you be remembered for?

Test-preparation pioneer Stanley Kaplan died Sunday, said Kaplan Inc., 71 years after creating the business in its parents' Brooklyn basement. The company grew into the nation's largest test-prep business, helping students get ready for college-entrance exams such as the SAT, and in the process blazing a trail for the for-profit education industry. Dominick Dunne, perhaps the most famous chronicler of the celebrity crowd over the last quarter century, died Wednesday at his home in Manhattan. He was 83 and had battled bladder cancer. Dunne, an investigative journalist, was famous for his reports from the trials of the infamous —O. J. Simpson, Michael Skakel, William Kennedy Smith, the Menendez brothers, plus the impeachment of President Bill Clinton. Preservationist Carolyn Kent is dead at the age of 74. Carolyn Kent, a longtime preservationist who helped save numerous buildings in upper Manhattan, has died, her family said Sunday. She was 74. From the 1950s until her final days, Kent fought to secure landmark status for west Harlem and Morningside Heights buildings. “Edward M. Kennedy—the husband, father, grandfather, brother and uncle we loved so deeply—died late Tuesday night at home in Hyannis Port. We’ve lost the irreplaceable center of our family and joyous light in our lives, but the inspiration of his faith, optimism, and perseverance will live on in our hearts forever. We thank everyone who gave him care and support over this last year, and everyone who stood with him for so many years in his tireless march for progress toward justice, fairness and opportunity for all. He loved this country and devoted his life to serving it. He always believed that our best days were still ahead, but it’s hard to imagine any of them without him.” What cause will you be remembered for?

Cause - obsessively developing strengths and flaunting weaknesses

Dave Rendall, Assistant Professor of Business at Mount Olive College and author of the Freak Factor writes "While you are busy diffusing your time and energy broadly in an effort to improve in a variety of different areas, someone else is obsessively developing their strengths and flaunting their weaknesses. They aren't allowing their weaknesses to distract them from focusing on the areas in which they have the greatest potential."

Tribes cannot be all things to all people.

Parents were outraged when the once wholesome family image of Hannah Montana star Miley Cyrus was destroyed when she posed in less than full dress for Vanity Fair.

Restaurants promoting organic food from local farmers may save a penny or two by using plastic and Styrofoam take outs, but as Moshe Mena, Director of MyGreenTable  explains "Their customers see value in using Eco-friendly, biodegradable products."

Attempting to expand the Harley Davidson popularity by incorporating a soft and fluffy teddy bear approach to bikes would destroy the tribe.

Create - Lessons from William Randolph Hearst

Marina Belozerskaya writes about the rise of William Randolph Hearst in The Medici giraffe. 

"Not content to rise to the top of the city's dailies, Will decided to break into the lucrative Sunday editions as well.  In a brash gesture typical of him, instead of building up his staff piece by piece, he lured over Joseph Pulitzer's brilliant editor, Morrill Goddard, who had made the New York Word's Sunday paper prosper.  And when Goddard hesitated, worried about running Hearst's paper without his old staff, Will brought (or bought) them as well by offering them much bigger salaries and greater freedom to exercise their abilities, as long as they increased his circulation."

Hearst grew his team with money and freedom.  Many people can be lured away by a higher salary, commission or bonuses.  What is often underestimated is granting people the freedom to do their best work.  

Do members of your team have the opportunity to create something amazing?

See: Where do you connect, create and cause?

Create - Hank Williams

Friday afternoon the Gravy Boys played at the Carolina Inn in Chapel Hill.  They play great music of their own and also a rendition of Hank Williams' 'Hey Good Lookin'.  Williams recorded the hit in 1951.  It has been subsequently recorded by a dozen artists and covered by countless bands. 

The Rock and Roll Hall of Fame notes "The words and music of Hank Williams echo across the decades with a timelessness that transcends genre. He brought country music into the modern era, and his influence spilled over into the folk and rock arenas as well.... The “outlaw” school of country singer-songwriters who followed in Williams’ wake - including Willie Nelson, Johnny Cash and his own son, Hank Williams Jr. - would have been inconceivable without Williams’ rough-cut artistry. However, problems with drugs and alcohol led to Williams’ premature death by heart attack at age 29 while en route to a show.  In 1961, Williams was the first artist elected to the Country Music Hall of Fame, a tribute indicative of his impact."

Lesson to learn from Hank Williams:

1. Create something worth re-recording and covering.  Hey Good Lookin is almost six decades old and still meaningful.

2. The tribe is not only greater than the person, it makes the person.  Williams is great not despite the many re-recordings and coverings, but because of it.  Paving the way for others to succeed built his legacy.

3.  A business can do well by re-recording and covering if they can add value and their own voice.  Willie Nelson, Johnny Cash, William's Jr. and others took off where Williams left off.  Bernard Cova of Euromed and Seth Godin, leadership guru did not create the concept of business tribes, but they did repackage from the academic literature to a form MBA programs and businesses could use.

4.  Avoid tribal pitfalls.  Alcohol and drugs may sound appealing, but they do kill.  What is your business' pitfall.