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jerryking : luke_johnson   33

Manage your time as well as your staff - FT.com
October 1, 2013 | FT | Luke Johnson By Luke Johnson.

Not many entrepreneurs are great listeners, but those who have that skill are frequently the most impressive. They learn more. And I like bosses who are always well-informed about their market and competition – never too arrogant to copy rivals, and modest enough to understand that there is always room for improvement.

My favourite entrepreneurs are well-organised but not perfectionists. They see the big picture and do not fritter away energy on trivia. They juggle the multiple calls on their time well, and know what matters.
Luke_Johnson  time-management  entrepreneur  listening  personal_energy  multitasking  the_big_picture 
october 2013 by jerryking
The best sectors for would-be founders
May 22, 2013 | The Financial Times | Luke Johnson

Certain jobs are suited to entrepreneurship, while others are definitely not. If you have ambitions to become an entrepreneur, it pays to join the ...
Luke_Johnson  entrepreneurship  career_paths  farming  real_estate  academia  pharmacies  founders 
may 2013 by jerryking
Making it in the new industrial revolution
Aug. 29, 2012 | The Financial Times | by Luke Johnson.
Two new books make this point: first, the Financial Times's Peter Marsh in his excellent book The New Industrial Revolution ; and second, Chris Anderson, of The Long Tail fame, in his new title, Makers . They argue that mass production is giving way to customisation, combined with localism, and the emergence of "micro-multinationals".

Digital manufacturing employs computers and a process called stereolithography to make products using layers of either powdered or molten plastic or metal, in what is described as "additive manufacturing". ...whether it is Apple iPhones or Rolls-Royce Trent aero engines, the real profit is not made in the basic assembly of goods. The margins are in servicing, brands, design and after-sales.

Manufacturing contributes to an economy in many ways. As Andrew Liveris, chief executive of Dow Chemical, argues in his book Make It In America , it creates more added value pro rata than other activities, and is much more likely to generate exports to help offset trade deficits. Moreover, research and development tends to take place alongside manufacturing centres, which foster clusters of sub-contractors. It is no coincidence that Germany, Europe's manufacturing powerhouse, has weathered the credit crisis so well compared to other EU nations.

Since the downturn started, many politicians in the developed world have insisted that societies move away from financial capitalism and back towards the real business of making things. If this policy is to succeed, it cannot be the usual formula of enticing global public companies to build multibillion-dollar plants. It must be about education, entrepreneurship and exploiting new equipment on a more bespoke scale. Incremental jobs in manufacturing can come from new, niche entrants using innovations in technology to help make them more of a match for the big incumbents.
manufacturers  Luke_Johnson  3-D  books  DIY  microproducers  Industrial_Revolution  developed_countries  margins  services  brands  design  after-sales_service  Apple  Rolls-Royce  developing_countries 
august 2012 by jerryking
It's hard to make a graceful, final exit
Nov. 23, 2011 | The Financial Times. (): News: p14. |Luke Johnson
Once you have sold you will certainly receive special attention thanks to your "liquidity event". Wealth managers and private bankers will call incessantly, hungry to look after your loot. Charities too will come knocking, hoping you will become a generous philanthropist. Long-forgotten friends will get in touch, happy to rekindle the acquaintance now that you are so evidently rich. New friends may suddenly emerge, keen to help you spend your wealth.

Consequently you will have to learn to say no rather more often, and to spot the phoneys and envy that usually appear. [jk...be conservative, be discerning, be picky, be selective, say "no"]

Over time, probably half of all entrepreneurs who've sold up start a new venture.
exits  entrepreneur  Luke_Johnson  serial_entrepreneur  say_"no"  succession  philanthropy  wealth_management  private_banking  liquidity_events  charities 
november 2011 by jerryking
Why big businesses are bad for business
Oct. 19, 2011 | The Financial Times. (): Business News: p12.|
Luke Johnson
too many executives in large public companies actually have more in common with various arms of government than they do with entrepreneurs and start-ups. I used to believe that the great divide was between the public and the private sector: between state and commercial interests. But in truth the real difference is between giant and small organisations, whether they are for profit or not; between huge bureaucracies and owner-run outfits.
Luke_Johnson  size  large_companies  small_business  bureaucracies  Fortune_500  owners 
november 2011 by jerryking
Let's get Darwin's theory straight
Oct. 24, 2011 | The Financial Times p8. | Letter to the editor
Darwin was not interested in the survival of fit individuals. He observed and described how groups and their traits survived - specifically, its members must live long enough to procreate, leaving fertile offspring.

We are evolutionarily irrelevant once we stop bearing children or if we bear infertile children. If a weak, weedy, timid man or woman leaves a dozen procreating children, he or she is a Darwinian "fit" survivor. A war hero or heroine who bears no children is evolutionarily unfit. The genetic traits of the weedy will survive, those of the heroes will not.

This is Darwinian evolution. In business terms it can be applied, for instance, to Coca-Cola and Apple, whose former employees survived to spawn many other soft drink and technology companies. But without survival to procreation of fertile offspring, there are none fit to survive, in Darwinian theory. This is the basis of natural selection of genetic traits.
letters_to_the_editor  Charles_Darwin  Luke_Johnson  evolution  theory_of_evolution  natural_selection  Darwinian 
november 2011 by jerryking
A new lexicon to celebrate capitalism
Oct. 26, 2011 | The Financial Times pg.8 | Luke Johnson
capitalism  Luke_Johnson  words 
november 2011 by jerryking
Companies close to home need your help
Nov. 2, 2011 | The Financial Times p12.| Luke Johnson.

Two recent books, independently published on either side of the Atlantic, have each drawn parallels between the "slow food" movement and the idea of investing locally. The slow food concept was pioneered in Italy in 1986, to champion small-scale producers and regional ingredients, as a backlash against global fast-food operators such as McDonald's. Now this philosophy is being extended to the financial sector.

The British title is Slow Finance: why investment miles matter by Gervais Williams,
The US book is Locavesting: the revolution in local investing and how to profit from it , by Amy Cortese.

the City of London is largely failing as a provider of capital for British business. The new-issue market for domestic companies has almost disappeared in recent years - all the activity is in trading second-hand shares and floating overseas companies like mining concerns from Africa or Russia. So if mainstream investing institutions such as pension funds are not backing British enterprise, then individuals should look to channel their savings directly into local ventures. For just as a society that won't reproduce commits a form of suicide, so if we fail to invest in our own industries, then we face inevitable economic decline.
local  locavore  investing  books  crowd_funding  Luke_Johnson  microproducers  slow_food  backlash  investors  economic_decline  London  small-scale  finance  funding  fin-tech  decline 
november 2011 by jerryking
A guide to shaking off the doom and gloom
Nov. 9, 2011 | The Financial Times p10.|Luke Johnson
*Study history:
*Avoid the news
*Spend time with the young:
*Remain rational:
*Avoid pessimists:
*Read the stoics:
*Admit mistakes and move on:
*Keep busy:
*Get fit:
*Focus on small wins:
*Ignore events over which you have no control:
*Concentrate on your micro economy
*Laugh: psychologists know that humour is healthy.
++++++++++++++++++++++++++++++++++++++++
History gives us a sense of proportion, he says: “It’s an antidote to a lot of unfortunately human trends like self-importance and self-pity.”.....see history “as an aid to navigation in such troubled, uncertain times,”.....[David McCullough]
Luke_Johnson  economic_downturn  bouncing_back  resilience  small_wins  reading  history  affirmations  humour  fitness  exercise  personal_economy  Stoics  sense_of_proportion  quick_wins 
november 2011 by jerryking
A good PR consultant is worth paying for: The Entrepreneur
08 Dec 2010 | FT| Luke. Johnson. Having owned PR firms, I
know it can be an attractive investment. Clients are on contracts with
monthly retainers, so no feast & famine of advertising campaigns.
Expenses are staff & premises. A consumer PR agency should generate
20 % net profit margins on revenue; a financial PR agency 30 %.

PR is one of the few segments of the marketing services industry that
has benefited from the digital revolution. Most participants, including
advertising agencies, media buying shops and design houses, have
suffered, as spend on traditional media such as TV and press has been
squeezed....The growing importance of PR in business and society is
exemplified by the power of kings of the trade such as Alan Parker at
Brunswick and Roland Rudd at Finsbury. Both have incredible connections
in the City, Wall Street, industry & politics. The sector has moved
on from spin to embrace communications with investors, regulators,
politicians and other discreet audiences.
Luke_Johnson  public_relations  ProQuest  mass_media  Finsbury  Wall_Street  professional_service_firms  margins  Communicating_&_Connecting  investors  regulators  politicians  financial_communications  digital_revolution 
august 2011 by jerryking
It makes no sense to copy Mark Zuckerberg
Jul 27, 2011 | FT. pg. 10 | Luke Johnson. I used to think Mark
Z's achievement with Facebook was an inspiration to entrepreneurs. Now
I'm not so sure....I've lost count of the # of biz plans I've seen from
"digital pioneers" building the next Facebook or suchlike...The truth
is that no other company has ever expanded like Facebook. The vast
majority of start-ups do not raise formal vc - they fund their
operations via family & friends...Most winners are in their 30s or
40s by the time they make it. Experience counts in mgmt....This illusion
of instant technology wealth is new. Thomas Edison & other
inventors took yrs. to establish fortunes - and many like Charles
Goodyear, never did..... Google & Amazon distorted the financial
world... they were the exceptions....Companies generally take from 5 to
10 yrs. to break through....The best biz are not built to flip...Most
service mundane requirements, quite possibly business apps rather than
sexy consumer projects like Facebook.
Mark_Zuckerberg  Luke_Johnson  ProQuest  entrepreneurship  start_ups  facebook  unglamorous 
august 2011 by jerryking
THE BIGGEST GROUPS ARE ILL WITH INEFFICIENCY
April 06 2011 | FT | Luke Johnson
● Sunk cost fallacy:
● Groupthink:
● An obsession with governance:
● Institutional capture: the phenomenon whereby mgmt. end up running an
enterprise for their own benefit, rather than for the real owners. Also
known as the principal/agent problem.
● Office politics: self-destructive infighting for power within large
businesses is endemic, and perhaps the biggest value destroyer of all.
● Lack of proprietorship:
● Risk aversion: in large corporates, the punishment for management
failure is greater than the rewards for success. So, rational
individuals pursue cautious strategies to avoid damaging their career
prospects. (aka "playing it safe")
● The burden of history: many older companies have legacy issues such as
pension scheme deficits, union contracts, inefficient equipment and so
on.
● Anonymous mediocrities: there is nowhere to hide in a small company –
if you can’t deliver, you’re out.
● Commodity products: large companies need large markets,
playing_it_safe  start_ups  inefficiencies  size  groupthink  Luke_Johnson  large_markets  large_companies  bureaucracies  risk-aversion  mediocrity  owners  office_politics  commodities  self-destructive  brands  legacy_tech 
april 2011 by jerryking
Put out the welcome sign for immigrants
Nov 3, 2010 / Financial Times pg. 14 / Luke Johnson. Importing
human capital generates wealth. They bring ideas - and often financial capital - and force us to raise our game to compete. Throughout history, those who would expel or persecute industrious communities - like Nazi Germany and the Jews, Idi Amin's Uganda and Asians - have been the big
losers. What we need is brainpower and willpower - they are the greatest
natural resources. Migrants are a self-selecting minority and tend to
be young and enterprising. We should continue to make our country
attractive to arrivals from all over the world who want to start a
business.
Luke_Johnson  human_capital  wealth_creation  migrants  immigrants  immigration  ethnic_communities  willpower  expulsions  persecution  Uganda  Idi_Amin  brainpower  South_Asians  natural_resources  self-selecting  displacement  dislocations  adversity 
november 2010 by jerryking
A technique for producing ideas : Young, James Webb, 1886- : Book, Regular Print Book : Toronto Public Library
Its thesis is both simple and applicable to many sorts of
problems. The central premise is that any new idea is in fact only a
fresh combination of old elements, plus the ability to see new
relationships between known facts. What every successful business needs
is competent execution--you cannot patent an idea and protect it from
replication by a rival. Companies are increasingly using their
customers--social networking-- to help design their products and improve
their offerings.
ideas  idea_generation  books  libraries  book_reviews  Luke_Johnson 
september 2010 by jerryking
Now is the moment to seize your opportunity
May 5, 2010 | Financial Times. pg. 10 | Luke Johnson.

The hour is always darkest before dawn. I have a gut feeling that now might just be a great time to take the plunge. There is plenty of negative news about deficits and double-dip recession. But technology and global markets are creating real advantages for anyone tempted to give it a go. And a new concern will not be weighed down with the legacy issues like property and pension obligations that are holding back incumbent players. Among my reasons why now is the time:

* The internet has made it easier to experiment than in the past. Building an online presence costs less than it ever did. I just redesigned my website for less than £2,000 in a few weeks. With that you can reach the whole world. Yes, the web is crowded, but there are billions of consumers connected to it who might see your ads or buy your products. And if your idea fails, too bad – shut the project down and try another; it is cheaper and quicker to discover what works than at any time in history.

* The corporate life seems less appealing . Jobs for life have gone; occupational pensions have gone; and who wants to slog away in a suffocating hierarchy their whole career? The freedom and satisfaction of self-employment are hard to beat. Of course there are risks – but then you might get sacked anyway if you work for someone else. Starting a company gives you the chance to achieve independence and self-determination – and if it succeeds, you really will get the rewards of your efforts.

* The world needs entrepreneurs more than ever. New jobs and wealth creation spring principally from new companies. I predict governments will do more to encourage entrepreneurs in years to come – from lower taxes to a reduced regime of bureaucracy. Every policymaker I speak to understands that only private enterprise can tackle unemployment and generate the tax we need to deal with our problems.

* There is more advice and support than ever before. Books, online, agencies, magazines – you name it, there are hundreds of places to go to find ideas, recruit staff, secure premises, source IT, deal with legal and accounting issues and so forth. There are more clubs and networks – more ways to access funding, find partners and reach customers. There are many more role models and mentors around than when I started out in the 1980s.

* It is easier to freelance and subcontract than before. Virtual businesses are common. Almost everything can be outsourced – manufacture, R&D, fulfilment, logistics, administration, IT – you name it. And providing these services offers endless niche markets.

* There is talent galore looking to join in a new venture. Now is a wonderful time to recruit able staff. Big business and the state are shedding personnel – people will be more willing to throw in their lot with an emerging company than during the good times.

* Premises and plants are plentiful. Rents are lower, machines are in surplus – there is more choice than there has been for years in terms of premises and equipment.

* Redundancy should be a beginning, not an end. Thousands do seize the day when they lose their job – and while not all find it a pushover, for many it allows them to pursue their dream and follow their passion.

* Part-time is a way to get going. When I worked for others, I moonlighted for several years, participating in various schemes at weekends, evenings and during holidays. It gave me experience, confidence and helped generate capital – so I was better prepared when I left employment for good after a few years.

I recently became chairman of the Advisory Board of Fast Track, which ranks Britain’s fastest growing companies. There I am endlessly impressed by the vision and energy displayed by the founders of so many of the companies surveyed. They know it is worth it.

No one believes starting something from scratch is a breeze. But as Samuel Johnson said: “He that labours in any great or laudable undertaking has his fatigues first supported by hope and afterward rewarded by joy.”
Carpe_diem  kairos  Luke_Johnson  opportunistic 
may 2010 by jerryking
Artists can seize the business initiative
Feb 17, 2010 | Financial Times. : pg. 14 | Luke Johnson.
ProQuest  Luke_Johnson  artists  entrepreneurship 
april 2010 by jerryking
Behind all successes are a series of failures
Mar 31, 2010 | Financial Times. pg. 18 | Luke Johnson. while
improvement is essential, it pays to keep blame in proportion. Chance
plays a huge role in life, so do not torture yourself unnecessarily in
the wake of a mistake. And by the same token, try to avoid making so
many excuses that you sound as if you're in denial. Honestly analyse the
reasons why things did not go your way, and then move on.
ProQuest  Luke_Johnson  resilience  bouncing_back  failure  setbacks  sense_of_proportion  luck  chance  contingency  self-analysis  blaming_fingerpointing 
april 2010 by jerryking
Why focus groups tell you the obvious
Mar 24, 2010. | Financial Times. pg. 14 | Luke Johnson. Great
breakthroughs in fields such as new product development are frequently
achieved by avoiding surveys and committees altogether. Constant testing
can lead to blandness and safety-first choices. In creative affairs,
corporate brainstorming sessions usually end up with groupthink
dullness, all originality squeezed out because of the fear of failure or
through the influence of office politics. As Steve Jobs said: "It's
really hard to design products by focus groups. A lot of times, people
don't know what they want until you show it to them."
ProQuest  Luke_Johnson  research_methods  product_development  surveys  market_research  breakthroughs  moonshots  Steve_Jobs  unarticulated_desires 
april 2010 by jerryking
How to get buyers and sellers talking again
Mar 18, 2009.| Financial Times. London (UK): pg. 14| Luke
Johnson

Advocates for the reviving of the "the seller note". An IOU from the
buyer to the seller, that is effectively a form of deferred
consideration. It can help bridge the gap between the buyer's limited
cash, and the vendor's desire to achieve a higher price. Such an
instrument can be designed
entrepreneur  Luke_Johnson  howto 
march 2009 by jerryking
FT.com / Columnists / Luke Johnson - Ideas for challenging times
Published: June 17 2008 FT column By Luke Johnson looking at
how emerging companies can generate new ideas. Recommends a little book
called A Technique for Producing Ideas by James Webb Young. Its thesis
is both simple and applicable to many sorts of problems. The central
premise is that any new idea is in fact only a fresh combination of old
elements, plus the ability to see new relationships between known facts.
What every successful business needs is competent execution--you cannot
patent an idea and protect it from replication by a rival. Companies
are increasingly using their customers--social networking-- to help
design their products and improve their offerings.
books  brainstorming  execution  hard_times  ideas  idea_generation  Luke_Johnson  mental_dexterity  mind-mapping  serial_entrepreneur  social_networking  reinvention 
february 2009 by jerryking
FT.com / Columnists / Luke Johnson - Rites of passage for young entrepreneurs
Published: July 15 2008 FT column By Luke Johnson that focuses
on the fact that Gen X and Gen Y entrepreneurs have never been in
business during a recession. Worries that a lot of their companies are
fragile constructs, not built to weather severe conditions. Established
corporates have years of retained profits to fall back on but smaller,
newer businesses do not.
adversity  bouncing_back  brands  coming-of-age  entrepreneurship  Fortune_500  fragility  Generation_X  hard_times  large_companies  Luke_Johnson  recessions  resilience  retained_earnings  serial_entrepreneurship  setbacks  start_ups 
february 2009 by jerryking
FT.com / Columnists / Luke Johnson - Tools for every founder’s kitbag
June 11, 2008 article by Luke Johnson on gadgets that the new breed of entrepreneur would do well have to have on hand.
entrepreneur  gadgets  tools  Luke_Johnson  founders 
january 2009 by jerryking

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