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jerryking : business_development   63

Momofuku’s Secret Sauce: A 30-Year-Old C.E.O.
Aug. 16, 2019 | The New York Times | By Elizabeth G. Dunn.

Momofuku was founded in 2004, with an East Village ramen bar that, after some initial stumbles, wowed diners by combining pristine ingredients and impeccable technique in humble dishes that melded influences from Japan to Korea to the American south. Since then, it has become a private-equity backed company with restaurants from Sydney to Los Angeles; a growing chain of fast-casual chicken sandwich shops; a media production unit churning out television shows and podcasts; and designs on creating a line of sauces and seasonings that could capture supermarket aisles across America. While Mr. Chang is the brand’s lodestar, Ms. Mariscal, 30, is the executive who makes it all work.

Born and raised on the Upper West Side, to the family that founded the specialty foods emporium Zabar’s, Ms. Mariscal began her career at Momofuku in 2011, as a public relations and events intern. Over the years, she quietly became Mr. Chang’s closest collaborator and confidante, a largely unknown force shaping matters as varied as menu design, branding and business development. “She’s the only person I’ve ever felt comfortable giving complete carte blanche to, in terms of what Momofuku looks like and what it should be,” Mr. Chang said. He recalled suggesting to the company’s board that Ms. Mariscal be named C.E.O. almost four years ago, when she was 26. She finally assumed the role in April.

It’s not unusual for a chef like Mr. Chang to parlay cooking talent and charisma into restaurants, cookbooks and television shows — a formula pioneered by the likes of Emeril Lagasse, Bobby Flay and Rick Bayless in the 1990s. But chef-driven food brands of the scope and ambition that Mr. Chang and Ms. Mariscal envision for Momofuku, with dozens of locations and mainstream packaged food products, are harder to pull off.

Adding to the challenge is Momofuku’s particular identity, which revolves less around a distinct culinary tradition than an attitude of restless innovation, boundary pushing and spontaneity. A formulaic chain of steakhouses, Momofuku ain’t. Scaling that ethos requires a tightrope act: Create enough structure and continuity to stave off chaos, without destroying the brand’s animating spirit in the process.
Asian  brands  branding  business_development  CEOs  chefs  commercial_kitchens  David_Cheng  detail_oriented  differentiation  diversification  food  founders  fusion  growth  high-standards  interns  investors  kitchens  leadership  Momofuku  organizational_structure  restauranteurs  restaurants  scaling  special_sauce  women  workaholic 
august 2019 by jerryking
How a private equity boom fuelled the world’s biggest law firm
June 6, 2019 | Financial Times | James Fontanella-Khan and Sujeet Indap in New York and Barney Thompson in London.

Jeff Hammes took the helm at a Chicago-based law firm called Kirkland & Ellis in 2010, with the aim of turning it into a world-beater, few in the industry thought he stood a chance.......known as a good litigation firm in Chicago with a decent mid-market private equity practice, in the blockbuster dealmaking world, however, the firm was largely irrelevant. Nobody took them seriously on Wall Street.....Fuelled by explosive growth in private equity, aggressive poaching of talent and most of all, a business model that resembles a freewheeling investment bank, Kirkland has become the highest-grossing law firm in the world.....This rise reflects the shift in the financial world’s balance of power since the financial crisis. Investment banks, the dominant force before 2008, have been eclipsed by private equity firms, which now sit on hundreds of billions of dollars of investment funds.

Kirkland thrived by hitching itself to this dealmaking activity. The firm presents with a relentless — many say ruthless — focus on growth, a phenomenal work ethic and a desire to up-end what it sees as a lazy hierarchy. Key questions: can its winning streak can continue? Will its private equity clients continue to prosper? how will Kirkland cope if and when the private equity boom ends? And can a firm with such a hard-charging culture survive in the long run?....Robert Smith’s Vista Equity has grown to manage assets from $1bn to $46 in a decade while working with Kirkland.....To establish Kirkland as a major player, Mr Hammes turned his attention to recruitment. ....poaching proven M&A experts and targeting all areas of dealmaking.....To entice the best lawyers to join its ranks, Kirkland managed to exploit a structural rigidity in its more traditional white-shoe and magic circle rivals. A dwindling but still significant number of elite firms remunerate equity partners using a “lockstep” model......
Kirkland sought rising stars in their late thirties who were at the bottom of this ladder, stuck in the queue for the highest share of profits. Part of its pitch was money — “With compensation, we can go as high as we want,” says one partner — but the other part was an almost unprecedented level of autonomy.
Big_Law  booming  business_development  Chicago  compensation  concentration_risk  dealmakers  deal-making  eat_what_you_kill  financial_crises  growth  hard-charging  high-end  hiring  howto  hustle  Kirkland_Ellis  law  law_firms  litigation  mid-market  organizational_culture  poaching  private_equity  recruiting  Robert_Smith  superstars  talent  turnover  Vista  Wall_Street  winner-take-all  work_ethic  world-class 
june 2019 by jerryking
Don’t Waste Your Time on Networking Events
SEPTEMBER 26, 2016 | HBR | Derek Coburn.

My definition of “networking” is any activity that increases the value of your network or the value you contribute to it. The best way to do this is to avoid traditional networking events almost entirely. There are more efficient and effective ways to spend your time. Here are three of my favorite strategies:

Hosting Your Own Events
Hosting your own get-togethers gives you almost complete control over the attendees, the setting, and the outcome. It’s a great way to add value for existing clients and connections, and can also be an opportunity to meet and develop relationships with prospective clients.

Most professionals struggle to find the right balance when allocating their time between client services and business development. But when done properly, you can accomplish both by hosting a great client appreciation event.

The primary goal when planning an event should be to choose an activity your existing clients will enjoy. If you and your best clients share similar passions, start there. Do any of them play poker, or enjoy attending musicals or sporting events? My favorite events to host are wine tastings.
business_development  Communicating_&_Connecting  HBR  motivations  overrated  relationships  weak_links  networking 
may 2019 by jerryking
HOW TO: Land a Business Development Job
So you want to be a business development professional? The job title has certainly become a coveted one of late, especially in the tech sector where the business guys and gals are the ones forging newsworthy partnerships.
The question is, do you know what the job entails? Even then, do you know how and where to start on this newfound career path? Or better yet, do you have the qualities that make for success in these always-on positions?
Mashable interviewed six experts in the field at various stages in their careers to get their tips on what it takes to become a business development professional at technology companies and startups.
Biz Dev ProsHere is some background information on these six seasoned business development professionals.
Charles Hudson: Newly turned entrepreneur Charles Hudson was the vice president of business development at Serious Business, a top social game developer acquired by Zynga in February. Previous engagements include senior business development positions at Gaia Online and Google. Hudson also produces two conferences focused on gaming: Virtual Goods Summit and Social Gaming Summit. Hudson is now co-founder of Bionic Panda Games.
Jesse Hertzberg: Hertzberg is the former vice president of operations and business development at Etsy, the immensely popular social commerce site for handmade and vintage items now valued at close to $300 million. Hertzberg currently advises a number of startups, including Squarespace, and is the founder of BigSoccer.
Matt Van Horn: Van Horn is the vice president of business development at the super stealth startup Path. His past jobs include more than three years working in business development for Digg, as well as a four-year stint with Apple while attending college.
Tristan Walker: Walker is the up-and-coming investment-banker-turned-tech-star heading Foursquare’s business development efforts. Walker is directly responsible for coordinating a majority of the trendy startup’s biggest strategic partnerships. This role has also brought considerable visibility to Walker, who’s been featured in Vibe Magazine, as well as named in The Hollywood Reporter’s Digital Power 50 list, Black Enterprise’s 40 Next list and Mediaweek’s 50:20 to Watch list.
Jason Oberfest: Oberfest is the vice president of social applications at game developer Ngmoco, which was recently acquired by DeNA for $300 million with a potential $100 million more in post-acquisition bonuses. Prior to joining to Ngmoco, Oberfest was the senior vice president of business development at MySpace, and before that the managing director of business development at Los Angeles Times Interactive.
Cortlandt Johnson: Johnson is the chief evangelist at SCVNGR and actively works to recruit businesses to participate in the startup’s rewards program. Johnson also co-founded DartBoston, an event-centric community designed to connect entrepreneurs and professionals in the Boston area.
Education and Internships

What undergraduate school should I attend? Do I need to go to grad school? What about internships? These are all questions you’re likely to face as you explore a future in business development. The esteemed professionals we interviewed all have backgrounds of varying degrees, so we asked for their input on these subject matters.
Walker’s own personal story is perhaps the most unique example of how to come by a business development position. While certainly making his mark in business development now, Walker initially pursued a career on Wall Street before packing it up and heading to Stanford Graduate School of Business, a shift that pushed him in the tech direction.
All things considered, does Walker recommend internships? “Certainly depends,” he says. However, based on his own internship experiences, “if you want to work in tech long term, interning at an investment bank may not make the most sense,” he jokes.
Hertzberg is a big proponent of internships. “Interning is the best job interview you can ever get, and is critical to beginning to build your professional network. Some of my favorite professional relationships are with folks who once interned for me,” he says.
Johnson suggests going after internships that push you outside your comfort zone. “The goal of my internships was to learn how to interact with all kinds of people. I always went after positions that forced me into different types of situations, whether they be social or otherwise,” says Johnson.
Grad school is something Walker has a bit more conviction about. In his words, “B-school” is “very important … not only for the skills (i.e. accounting, finance, operations, etc.) that could be beneficial for all managers to comprehend long term, but also for the softer skills of ‘people management.’”
Oberfest found an immediate opening in the biz dev field right as he was starting out. “I was fortunate to get my career started at the beginning of the first Internet boom, so for me it was trial by fire,” he explains.
If you’re on the fence about grad school, consider the following statement from Oberfest. “Grad school can help, but [it] is not a requirement. Good knowledge of the mechanics of deals — how to structure and negotiate deals — is an important component of the job and an MBA or JD can certainly help there, but I think the single most important attribute of an exceptional business development person is good product intuition.”[jk: being product-orientated}
Van Horn is also proof that graduate degrees aren’t absolute requirements. “I’ve never attended graduate school, but if you’re able to attend a top tier school, I hear you build an incredible network for life,” he says.
Instead, Van Horn spent his undergraduate college years working for Apple. “It’s very powerful to have a big brand behind your resume,” Van Horn shares. “I worked for Apple for four years doing campus marketing while in college and it helped a lot.”
For Hertzberg, his MBA, “was worth half of what I paid for it, as I already had a business background.” But, he says, “The network is why you go and, yes, that has been worth its weight in gold.”
Required Reading

All of the professionals we talked to strongly advocate that those aspiring to work in the field read up on mentors past.
Never Eat Alone: And Other Secrets to Success, One Relationship at a Time, by Keith Ferrazzi is Van Horn’s personal favorite read.Johnson, who also recommends Never Eat Alone, finds Tim Sanders’s Love is the Killer App: How to Win Business and Influence to be an important read as well.Walker suggests that business development professionals-in-training pick up a copy of Influence: The Psychology of Persuasion by Robert Cialdini.Unfortunately, it takes more than a few good books to read your way to success. Hertzberg recommends an aggressive approach to ongoing education that entails consuming as much information as possible.
“Read industry rags voraciously and know who is starting up, who is funded, who is growing, who is cutting what deals, etc.” he says. “Have a deep and holistic understanding of the industry and marketplace beyond just your company’s focus.”
Hudson strongly advises that, “all BD people, especially start-up BD people, should read Steve Blank’s work on customer discovery. That’s a big part of your job.” You might also want to start by reading Hudson’s own in-depth article on what being the “business guy” at a startup entails.
Must-Have Qualities

If you want to work in business development, and do so successfully, these experts agree that there’s one thing you absolutely need — a tangible passion for product.
In actionable terms, Walker describes this as a “tireless hustle.” Van Horn agrees. “I think you need to be passionate and have hustle,” he says.
Van Horn also recommends being an “early adopter of interesting products. If you’re looking for a technology job, make sure you use every awesome sounding new product you read on Mashable.”
Those best suited for business development roles are the make-it-work types, says Johnson. “The most successful people I’ve met are those who know how to quickly adapt and hustle to find ways to overcome any obstacles put in their way,” he advises.
Oberfest believes these three qualities are key: the ability to “quickly read people,” innate negotiation sensibilities and an appreciation for long-term relationships.
Hertzberg reminds that “you have to like people,” if you want to do well in a biz dev role.
Hudson agrees and points to human-to-human interaction as a huge part of the job. “If you want to go into business development, I think you have to be good at dealing with and understanding people. If you’re not comfortable with interpersonal communications and relationship management, it probably isn’t the right job for you,” he says.
On the flip side, Walker says that those possessing a “lack of humility” are least suited for biz dev positions. In a similar vein, Hertzberg says, “Be humble. Always represent your company’s brand faithfully. Constantly work to enhance and preserve that brand. Remember that your personal brand will never be bigger than your company’s.”
Getting Your First Biz Dev Job

For those just looking to get their foot in the door somewhere, knowing the answer to the question, “How does one get a biz dev job?” is of the utmost importance. We posed this particular question to our professionals, who all have slightly different, but uniquely encouraging takes on how and where to get started.
“For me it started with just recognizing the pretty significant business opportunity at a startup that I was already passionate about,” says Walker. “It always starts with product, then recognizing the opportunity on top of that.”
If you’re still an entry-level professional, Oberfest recommends not taking a job in business development at first, but rather in product management.
“I would first go work as a product manager in the industry you are passionate … [more]
business_development  job_search  social_media  social_networking  marketing  product-orientated  tristan_walker  via:sfarrar  thinking_holistically  top-tier  the_single_most_important 
august 2016 by jerryking
The Evolving Automotive Ecosystem - The CIO Report - WSJ
April 6, 2015| WSJ | By IRVING WLADAWSKY-BERGER.

An issue in many other industries. Will the legacy industry leaders be able to embrace the new digital technologies, processes and culture, or will they inevitably fall behind their faster moving, more culturally adept digital-native competitors? [the great game]

(1) Find new partners and dance: “The structure of the automotive industry will likely change rapidly. Designing and producing new vehicles have become far too complex and expensive for any likely one company to manage all on its own.
(2) Become data masters: “Know your customers better than they know themselves. Use that data to curate every aspect of the customer experience from when they first learn about the car to the dealership experience and throughout the customer life cycle. Having data scientists on staff will likely be the rule, not the exception.
(3) Update your economic models: “Predicting demand was hard enough in the old days, when you did a major new product launch approximately every five years. Now, with the intensity of competition, the rapid cadence of new launches, and the mashup of consumer and automotive technology, you may need new economic models for predicting demand, capital expenditures, and vehicle profitability.
(4)Tame complexity: “It’s all about the center stack, the seamless connectivity with nomadic devices, the elegance of the Human Machine Interface.
(5) Create adaptable organizations: “It will take a combination of new hard and soft skills to build the cars and the companies of the future. For many older, established companies, that means culture change, bringing in new talent, and rethinking every aspect of process and people management.
Apple  automotive_industry  autonomous_vehicles  ecosystems  Google  know_your_customer  adaptability  CIOs  layer_mastery  competitive_landscape  competitive_strategy  connected_devices  telematics  data  data_driven  data_scientists  customer_experience  curation  structural_change  accelerated_lifecycles  UX  complexity  legacy_players  business_development  modelling  Irving_Wladawsky-Berger  SMAC_stack  cultural_change  digitalization  connected_cars  the_great_game 
april 2015 by jerryking
Hunting the gazelle
DECEMBER 7, 2007 | The Globe and Mail | by SEAN WISE.

If one is attempting to build relationships with fast growing companies, how does one decide which ones (of the thousands of small companies starting out) will become big companies - big enough to justify the cost of investing in them now?.......in an effort to ensure a shared nomenclature, here's a communal taxonomy to help classify the various types of ventures encountered.

• Mice are small companies that are likely to stay small. Think "Bob's Pizza"- they can serve a great slice of 'za but it is unlikely they will double in size annually.

• Elephants are large companies whose growth is constant, but at a low level. Think Royal Bank. Its revenues grow annually, but it is so large that the growth is negligible over the short term, yet noticeable over the long term. Unfortunately, these companies have a high client acquisition cost.

• Dogs are medium to large companies that are experiencing low or negative growth. Think "AOL". A great company, but its revenue is shrinking. In the venture capital business, I often refer to these companies as kennel capital, i.e., companies that should be put to sleep.

• Gazelles are young companies that are experiencing extreme, massive growth. For those that pitch them early, the CAC is low and carries with it a high return on investment. Think "Facebook".

From a cash flow perspective, all four business animals start at similar points, however, they diverge rather quickly. The green Mouse stays fairly consistent, growing and shrinking its cash flow over time - possibly as a result of seasonal conditions. Never is it losing money, but it's never really hitting it big, either. The yellow Elephant starts in the best cash flow position and grows consistently at a relatively reasonable CAGR (Compounded Annual Growth Rate - a common business term used to represent the annualized growth of the business). Backing an elephant is never a bad idea, it is in fact, the safest bet (no one ever got fired from trying to land an Elephant). Unfortunately, Elephants are hunted by all, and this in turn, drives up the customer acquisition cost (CAC).......The Gazelles are where it's at from a business development (aka hunting) perspective. Gazelles tend to have the highest CAGR. They're also non-bureaucratic, and are flat in their organizational chart, which contributes to shorter sales cycles and lower CAC.

How to pick a Gazelle?
(1) Focus on those in industries with CAGR > 25%. If an industry is growing annually by 25% or more, then even those companies who finish second or third in their niche will do well. After all, a rising tide floats all boats.

(2) Look for Scalability. If a company can scale, it means they can produce their products for ever-increasing margins (i.e., the 1000th widget costs less to make than the 10th).

(3) Focus on Sustainable Competitive Advantage. If the company you are reviewing lacks any sort of proprietary intellectual property (i.e., patents), or has no barrier to entry, how will they stop others from flooding the market and eating their lunch? Gazelles continue to grow faster than their competitors by being able to differentiate their offerings to their clients.

(4) Look for the 10x rule. Being a little better, a little faster; or a little cheaper isn't enough to turn a startup into a Gazelle. For that to happen, a company has to offer a solution that is 10x faster, 10x better, 10x more secure, 10x cheaper, etc. To sustain double digit growth over the long term, and/or to obtain dominant market position, you will need a 10x solution, a solution that is exponentially better.

The Bottom Line

Whether you are a startup, an angel investor looking to back the best startups, or a service provider looking to serve either, you need to be able to spot high growth companies earlier than others. You need to be able to separate the wheat from the chaff - the potential world leaders from those that will become kennel capital.

If you are looking to find the next Google, Facebook, or Workbrain, you need to strap on your pith helmet and start tracking the Gazelles. Doing so will most likely ensure the greatest returns on your efforts,
10x  barriers_to_entry  business_development  CAGR  cash_flows  competitive_advantage  culling  customer_acquisition  gazelles  high-growth  howto  return_on_effort  scaling  small_business  start_ups  taxonomy 
february 2015 by jerryking
Want to land a big client? Here are four important tips - The Globe and Mail
MATTHIJS KEIJ
Young Entrepreneur Council
Published Tuesday, Aug. 12 2014

Study them

Landing a big client isn’t about you. Let me say that again: It is not about you.... remember that to succeed, you must help your client succeed. How do you do that? Study everything you can about the client until you fully understand the business, strategies and objectives.

Next, clearly define how your product or service will help the company achieve its goals. If you can identify a problem or isolate areas for improvement, then you can clearly illustrate your ability to provide a unique solution.

Make the connection. to land that enterprise client, try to identify your Norgay or Hillary. Talking to the wrong people wastes valuable time. However, if you can create a relationship with a strategic partner, that person can help get you in front of the right people and into the necessary meetings – all the more quickly than you could do on your own. Your target client is Mount Everest. Start climbing.
Gain influence

“An enterprise client needs to be convinced that working with your company is the best decision they could ever make,” says Karthik Manimozh, president and COO of 1-Page. “One of the most effective ways to help them arrive at this conclusion is to let your reputation precede you.”

The leadership, prestige and visibility that your company wields in the marketplace are all key factors that influence buying decisions. The answers your potential enterprise client seeks rest on your ability to shape your story. Good PR and marketing is the foundation. Strategic networking and social proof are pillars.

Remember, influence is something that comes with hard work...Be everywhere; talk with everyone (but ensure your conversations are informative and upbeat, never desperate).

Persevere through tough times

It can take months or even more than a year to land an enterprise client. Nothing worth having comes easy.

During that time, you’re bound to find yourself in countless meetings, possibly caught up in the middle of office politics, or jumping through hoops as the legal and procurement departments vet your company. Don’t dismay. This is par for the course when trying to land an enterprise client.
solutions  solution-finders  marketing  business_development  tips  indispensable  influence  networking  JCK  due_diligence  large_companies  perseverance  Communicating_&_Connecting  value_propositions  serving_others  strategic_thinking  client_development  hard_work  enterprise_clients  hard_times  office_politics  Michael_McDerment  the_right_people 
august 2014 by jerryking
A Crucial Test for a Commercial Broker -
March 12, 2008 | Businessweek | By Christopher Palmeri.

Now, White is telling his salespeople to find creative ways to drum up new business, from pitching environmental consulting services to existing clients to devising novel ways to finance deals. White knows a downturn is inevitable, but he hopes to cushion the blow. ...Its property managers now dispense green advice. Last year, CBRE helped shave $150,000 a year in electricity expenses at Phoenix Plaza, a pair of Arizona office buildings owned by General Electric's (GE) pension fund. CBRE installed energy-efficient lighting and cooling systems as well as sensors that adjust landscaping irrigation to reflect levels of rainfall. CBRE hopes to sell such expertise as consulting to other clients.
advice  business_development  commercial_real_estate  CBRE  diversification  economic_downturn  energy_conservation  green  management_consulting  property_management  novel  recessions  Wayne_Sankarlal 
september 2012 by jerryking
Facebook, Twitter and Foursquare as Corporate Focus Groups - NYTimes.com
By STEPHANIE CLIFFORD
Published: July 30, 2012

Companies like Wal-Mart and Samuel Adams are turning social media sites like Facebook, Twitter and Foursquare into extensions of market research departments. And companies are just beginning to figure out how to use the enormous amount of information available.... “There’s mountains and mountains of data being created in social media,” said Ravi Raj, vice president for products for @WalmartLabs, adding that the company used the data to decide what merchandise to carry where.

In one of its first analyses, performed last summer, @WalmartLabs found that cake pops — small bites of cake on lollipop sticks — were becoming popular. “Starbucks had just started getting them in their cafes, and people were talking a lot about it,” Mr. Raj said.

His team alerted merchants at Wal-Mart headquarters. The merchants had also heard about the product, and decided to carry cake-pop makers in Walmart stores. They were popular enough that the company plans to bring them back this holiday season.
Frito_Lay  Wal-Mart  market_research  social_media  focus_groups  data  merchandising  business_development  data_driven  Starbucks 
august 2012 by jerryking
JCK Must Network More!
February 14, 2002 | Owen Gordon
Your last comment notwithstanding, the biggest disadvantage that independents like you have in this day and age is no longer technology faxes, emails, etc.) nor scale: it's reach.You were not afforded the luxury of having a high profile middle to senior management position as your precipice from which to launch into independent consulting from. Therefore, you need formal mechanisms that allow you to “work a room" and eloquent yourself with, oh I don't know. say. 10 new people a month. They're not always going to be key (sorry you didn't run into 10 people who know Medical Transcription cold) but if you keep in peripheral contact, it grows over time. Remember, a whole lot of people who might be useful now lawyers, people who know people with money. people with connected into health-care}, you might have simply ignored 2 years ago if you went to TVG with your Telecom blinders on.
The key to your future success is not about Jerry King in a room with the light bulb going off on the greatest mousetrap or business model or process or strategy that no one else thought of. Regardless of the amount of empirical primary research you do in your room, the odds of you zigging when everyone else zagging is remote. And it's even remoter that you are going to have all the wherewith all and resources to execute from Lyons Ht. Road. The key is people. in fast, someone with half your brains and business sense and no formal post-graduate education might have an easier time getting one of your proposals off of the ground just based on the network effect and the six degrees of separation/Kevin Bacon rule. If TVG isn't offering up those people then fine. But make dog gone sure that you have a suitable replacement that offers the scope and diversity of players under one roof. To hell with the quality of the keynote speakers address.
OG
p.s. if your Carecore thing is starting to move, why don't you form a small board of advisors comprised of people who's judgment you trust - net only w.r.t. the business model but people with judgment who've acted as career coaches for you like Snelgrove, etc. You'd use these people to vet all kind of ideas. "How do i get the first meeting with the top dog at that hospital in Buffalo." "Do I incorporate a separate entity from Carecor and if so, what should I look for. what should be the share ownership structure?" "What are the next hurdles, roadblocks-as that I can expect 3 months from now and how do I begin to anticipate them?
JCK  networking  management_consulting  Owen_Gordon  associations  business_development 
july 2012 by jerryking
Adjusting to a Dry Market - WSJ.com
March 17, 2003 | WSJ | By PAULETTE THOMAS | Staff Reporter of THE WALL STREET JOURNAL. How Do You Make Adjustments When Your Market Dries Up?

THE LESSON: It's a new world. Opportunities abound across borders for those who develop the contacts and expertise.
borderless  lawyers  business_development  small_business  immigration  visas  India  Turkey  South_Korea  globalization 
may 2012 by jerryking
Priority Systems in the Allocation of Organs for Transplant: Should We Reward Those Who Have Previously Agreed to Donate? - ProQuest
Priority Systems in the Allocation of Organs for Transplant: Should We Reward Those Who Have Previously Agreed to Donate?
Chandler, Jennifer AView Profile. Health Law Journal13 (2005): 99-138.
decision_making  Octothorpe_Software  business_development  transplants_&_implants  wait_lists  healthcare  ethics  rewards 
october 2011 by jerryking
How to Be Like Apple - WSJ.com
AUG. 29, 2011 | WSJ | RACHEL EMMA SILVERMAN. Driving
Innovation: Mgmt. experts say there are specific ways firms can generate
and execute new ideas. Solicit input. Great ideas come from all levels
of the organization, not just the top. Provide workers time for
"unofficial activity," set time to work on creative ideas. Executing
ideas is often tougher than generating them. Companies need a clear
process to prioritize, resource & test ideas quickly and cheaply, so
that they can afford to experiment...Observation can help companies
understand not just what people say they want, but what they really
need. Clay Christensen says P&G's new-product success rate in recent
yrs. came from observing that people were concerned about how their
clothes smell (Febreze) & were always looking for simpler ways to
clean the floor (Swiffer.). P&G overhauled its new-biz strategy
after realizing that just 15% of its ideas, developed in more of an
ad-hoc approach, were meeting revenue & profit targets.
Apple  innovation  execution  Vijay_Govindarajan  P&G  business_development  Clayton_Christensen  new_products  kill_rates  success_rates  systematic_approaches  ad_hoc  new_businesses  slack_time  companywide  observations  experimentation  primary_field_research  large_companies  Fortune_500  brands  unarticulated_desires  Michael_McDerment  ideas  idea_generation  process-orientation 
august 2011 by jerryking
Business Braces for Belt Tightening - WSJ.com
AUGUST 9, 2011 By JONATHAN D. ROCKOFF

Business Braces for Belt Tightening
Lower Government Spending Could Ripple Across Industries; Create
Opportunities for Some; Say Goodbye to 'Uncle Sugar'. The Wall Street
Journal took a deeper look at what companies are most exposed to
rollbacks in government spending. The findings are below:
austerity  business_development  creating_opportunities  cutbacks  defense  education  diversification  healthcare  technology 
august 2011 by jerryking
Building the business of art - The Globe and Mail
TIM ALAMENCIAK
From Saturday's Globe and Mail
Published Friday, Jun. 03, 2011

Artscape president and CEO Tim Jones spends his days finding and
creating spaces around the city for artists. His big idea for Toronto
would be to give artists the tools – under one roof – to develop the
business side of their work...Founded in 1986, Artscape grew out of the
Toronto Arts Council’s recognition that it needed to defend artists’
live-work space. Since then, the not-for-profit has been working against
the forces of gentrification to maintain affordable studio space.
affordability  artists  creative_class  incubators  art  business_development  business_planning  gentrification  Artscape 
june 2011 by jerryking
Master the power of 'no' - for positive results
.Nov 27, 2010 | Financial Times pg. 39 | Jonathan
Moules.The secret of knowing when to say 'no' is to understand the
difference between optimism and recklessness....[jk...be conservative, be discerning, be picky, be selective, say "no"]........Tempting as some deals
are, it is often good entrepreneurial practice to turn them down.
Optimism is one of the defining traits of an entrepreneur, which is
probably why so many also find it hard to say 'no'. But being negative
can be a positive advantage at certain times. Steve Jobs, the
charismatic co-founder of Apple, once said that innovation, "comes from
saying 'no' to 1,000 things to make sure we don't get on the wrong track
or try to do too much". Saying 'no' to an offer of work, however, is
hard, especially if you are at the early stages of building a company
and especially in the current harsh economic climate when any paid
business seems like a scarce commodity.
ProQuest  business_development  small_business  self-discipline  Steve_Jobs  entrepreneur  optimism  say_"no"  recklessness 
december 2010 by jerryking
Straying From Tradition to Generate Solid Leads - WSJ.com
NOVEMBER 10, 2010 | WSJ | Mike Michalowicz. One shortcut to
getting solid referrals from clients is a process I call "fast-flow
prospecting." It starts with simply asking, "Would you mind referring me
to your other top vendors so that we can explore ways to serve you
better?" You might get a raised eyebrow, but your clients will almost
always say yes. It's a no-brainer for your client because you're not
asking them to hook you up with new leads; you're simply asking them to
help you, help them....Because you are working with other vendors to
create a better service protocol for mutual clients and prospects, this
lead-generation strategy will result in the best of referrals. Not only
will you land more clients, but you'll also build strong client
relationships that lead to other vendor referrals, and so on.
lead_generation  prospecting  referrals  running_a_business  shortcuts  protocols  business_development 
november 2010 by jerryking
Events find their feminine side
Jul 5, 2007 | Financial Times pg. 14 | by Brooke Masters and
Emiko Terazono. Companies are increasingly hosting private fashion
shows and boutique evenings to attract women executives.
ProQuest  women  business_development  networking  mentoring  gender_gap  event_marketing  sponsorships 
february 2010 by jerryking
Building a Platform for Growth
5/22/2006 | HBS Working Knowledge | by Donald L. Laurie,
Yves L. Doz, and Claude P. Sheer.
Sometimes building growth in mature industries means more than simple
product extensions or acquisitions. The answer? Develop "growth
platforms" that extend your business into new domains. An excerpt from
Harvard Business Review.
HBR  business_development  core_businesses  embryonic  growth  platforms  start_ups  spinups  product_strategy  product_extensions  growth_platforms  new_businesses  mature_industries 
february 2010 by jerryking
BREAKTHROUGH Business Development
Breakthrough Business Development
By Duncan MacPherson and David Miller, John Wiley & Sons Canada Ltd.
blog  business_development  financial_advisors 
february 2010 by jerryking
Seth's Blog: Understanding business development
September 21, 2009 | Posted by Seth Godin.

Here are some tactical tips on how to do business development better:

Process first, ideas second.
Who decides?
Courtship, negotiation and marriage.
Buyer and seller.
Enthusiasm is underrated.
Close the open door.
Call the lawyers later.
Cast a wider net
Talk to the receptionist.
Hire better.
Structure deals with the expectation of success.
End well.
business_development  Seth_Godin  negotiations 
october 2009 by jerryking
Three Best Ways to Win a Corporate Client - WSJ.com
OCTOBER 8, 2009 | Wall Street Journal |by RAYMUND FLANDEZ. The
economic downturn means that it is more difficult than ever for small
businesses to attract and land corporate accounts. They've got to do
even more prospecting – more calls, more networking, and more seeking of
referrals.1. Make sure you're reaching out personally. 2. Partner with
complementary businesses. 3. Hire well-connected talent.
small_business  economic_downturn  business_development  prospecting  Raymund_Flandez 
october 2009 by jerryking
Slumdog engineers knocking on multinational doors
Aug. 20, 2009 | The Globe & Mail | by Geoffrey York.
Canadian non-profit group, Engineers Without Borders, launches an
industrial development organization to solicit business from major U.S.
companies, (including Newmont Mining Corp., Coca-Cola, and the cocoa
division of Archer Daniels Midland Co.) for artisan craftsmen. George
Roter, the Toronto-based co-founder of Engineers Without Borders.
nonprofit  engineering  Engineers_Without_Borders  business_development  Africa  Ghana  Geoffrey_York 
august 2009 by jerryking
How to be a packager
Posted by Seth Godin on June 29, 2009

Seth was a book packager which has nothing to do with packaging and a bit more to do with books. It's a great gig and there are useful lessons, because there are dozens of industries just waiting for "packaging"....A book packager is like a movie producer, but for books. You invent an idea, find the content and the authors, find the publisher and manage the process. Book packagers make almanacs, illustrated books, series books for kids and the goofy one-off books you find at the cash register. Seth did everything from a line of almanacs to a book on spot and stain removal. It was terrific fun, and in a good year, a fine business.....there are advantages to this model (and not just for books).

First, the world needs packagers. Packagers that can find isolated assets and connect them in a way that creates value, at the same time that they put in the effort to actually ship the product out of the door. ...
Second, in many industries there are 'publishers' who need more products to sell. Any website with a lot of traffic and a shopping cart can benefit from someone who can assemble products that they can profitably sell. Apple uses the iPhone store to publish apps. It's not a perfect analogy, because they're not taking any financial risk, but the web is now creating a new sort of middleman who can cheaply sell a product to the end user. We also see this with Bed, Bath and Beyond commissioning products for their stores, or Trader Joe's doing it with food items.

Any time you can successfully bring together people who have a reputation or skill with people who sell things, you're creating value. If you find an appropriate scale, it can become a sustainable, profitable business.

The skills you bring to the table are vision, taste and a knack for seeing what's missing. You also have to be a project manager, a salesperson and the voice of reason, the person who brings the entire thing together and to market without it falling apart. Like so many of the businesses that are working now, it doesn't take much cash, it merely takes persistence and drive.

Here are some basic rules of thumb that I learned the hard way:

* It's much easier to sell to an industry that's used to buying. Books were a great place for me to start because book publishers are organized to buy projects from outsiders. It's hard enough to make the sale, way too hard to persuade the person that they should even consider entering the market. (PS stay away from the toy business).
* Earning the trust of the industry is critical. The tenth sale is a thousand times easier than the second one (the first one doesn't count... beginner's luck).
* Developing expertise or assets that are not easily copied is essential, otherwise you're just a middleman.
* Patience in earning the confidence of your suppliers (writers, brands, factories, freelancers) pays off.
* Don't overlook obvious connections. It may be obvious to you that Eddie Bauer should license its name and look to a car company, but it might not be to them.
* Get it in writing. Before you package up an idea for sale to a company that can bring it to market, make sure that all the parties you're representing acknowledge your role on paper.
* As the agent of change, you deserve the lion's share of the revenue, because you're doing most of the work and taking all of the risk. Agenting is a good gig, but that's not what I'm talking about.
* Stick with it. There's a Dip and it's huge. Lots of people start doing things like this, and most of them give up fairly quickly. It might take three or five years before the industry starts to rely on you.
* Work your way up. Don't start by trying to license the Transformers or Fergie. They won't trust a newbie and you wouldn't either.
Seth_Godin  howto  business_development  expertise  one-of-a-kind  licensing  patience  large_companies  voids  vision  persistence  change_agents  overlooked_opportunities  packaging  value_added  non-obvious  latent  hidden  information_synthesis  creating_valuable_content 
july 2009 by jerryking
A List Apart: Articles: Filling Your Dance Card in Hard Economic Times
February 17, 2009
Filling Your Dance Card in Hard Economic Times
by Pepi Ronalds
tips  Managing_Your_Career  business_development 
april 2009 by jerryking
Six Ways Advertising Agencies Are Reeling in New Business Now - Agency News - Advertising Age
Some Novel and Tried-and-True Tricks to Snag Accounts in Recession
03.23.09| Advertising Age | Posted by Rupal Parekh
* NETWORK INNOVATIVELY; * SHOW YOUR SOCIAL-MEDIA SAVVY; * ADOPT A RECOGNIZABLE PLATFORM; * BE WILLING TO CONTORT; * WRITE A BOOK
* OFFER A DIRECT LINE TO THE CEO;
economic_downturn  strategies  advertising_agencies  survival  business_development  networking 
march 2009 by jerryking
Soy sauce seeps into the culture
09-Aug-2006 Financial Times By Mariko Sanchanta in Tokyo on how companies go about finding new markets.
food  business_development  Japan  soybeans 
march 2009 by jerryking
Finding opportunities with deep customer 'discovery'
February 23, 2009 G&M column by GEORGE STALK JR.

One approach that works for customer-supplier partnerships is something we call "discovery," which goes beyond cost reduction tactics to find opportunities for increasing revenues and improving entire processes....The discovery process goes behind traditional contact points to explore issues that affect the hand-offs, such as consumer usage, retail merchandising, promotional effectiveness and pricing.

By using fact-based analysis, information technology and strong project management, discovery has transformed purchasing department contacts into broader, deeper relationships, helped suppliers and customers create new value in their businesses, and led to dramatically more innovative products and services.
opportunities  business_development  George_Stalk_Jr.  discoveries  partnerships  process_improvements  IT  LBMA  OPMA  customer_insights  cost-cutting  BCG  merchandising  pricing  handoffs  purchasing  relationships  new_products 
february 2009 by jerryking
Playing with nature
February 23, 2009 by RASHA MOURTADA.

Adam Bienenstock's, founder of Gardens For Living, goal is to bring children and nature together through the installation of natural playgrounds in urban and suburban Toronto. .....Forget plastic and iron. Natural playgrounds are constructed with fallen logs, trees and shrubs and are built into the ground itself. (A slide built into the slope of a hill, for example.) Bugs are intentionally introduced and musical instruments and art are incorporated into the landscape.

"Whereas traditional playgrounds might use 13% of the actual space in the playground, we use closer to 95%" says Mr. Bienenstock, who has 10 year-round employees and 15 seasonal workers.....Today, Gardens For Living works exclusively on natural playgrounds. Last year, that involved 60 projects, including consulting, installation and design projects, but the company is also involved in policy work and education initiatives.
business_development  Rasha_Mourtada  industries  landscapes  playgrounds 
february 2009 by jerryking
Tough Times Call For New Ideas - WSJ.com
FEBRUARY 14, 2009, WSJ column by KELLY K. SPORS. The savviest
entrepreneurs aren't hunkering down trying to wait out the financial
storm. They're rethinking their business models & strategies based
on the assumption that consumer spending won't be rebounding to
prerecession levels. People may want new types of products and services.
So entrepreneurs are finding new sales channels, trying new marketing
tactics and promotions, forming strategic partnerships, etc.
adversity  rethinking  marketing  innovation  business_development  Kelly_K._Spors  strategies  business_models  entrepreneurship  economic_downturn  recessions  new_products  hard_times  ideas  idea_generation 
february 2009 by jerryking
Mr. Clean Takes Car-Wash Gig - WSJ.com
FEBRUARY 5, 2009, 9:49 A.M. ET WSJ article By ELLEN BYRON.
Procter & Gamble Co., under mounting pressure to find new sources of
revenue growth, is quietly experimenting with service businesses in
recent years. Car washing, dry-cleaning, and membership-based medical
services have all been looked at. Nathan Estruth, is the vice president
of P&G's FutureWorks, which develops new business ventures.
jck  automobile  business_development  competitive_advantage  P&G  car_washes  dry-cleaning_industry 
february 2009 by jerryking
Owned and Operated - WSJ.com
March 17, 2008 WSJ article by Maneet Ahuja profiling career service giant, Vault.
vault  business_development  career 
february 2009 by jerryking
We Know Where You Are: With new software, Web sites can tell what city a visitor is coming from; That can be useful information
Sept. 29, 2008. pg. R.8 WSJ article by Riva Richmond looks at
the different uses of geo-location software: (1) ID-ing visitors in Web
sites are located so they can better serve them -- by, for example,
ushering them to pages in their native language or offering them
information, promotions or products pertinent to the local area. (2)
Other firms need to comply with laws or contracts that require they
steer clear of customers in certain states or countries. (3) Other firms
seek to thwart online criminals trying to impersonate clients.
geolocation  geotagging  business_development  bering  location_based_services 
january 2009 by jerryking
FT.com / Home UK / UK - Security: IT that knows where you are
Nov. 7, 2007 FT article by Rusty Weston on the rise of geo-location software and names some of the vendors in this space.
business_development  bering  geolocation  geotagging 
january 2009 by jerryking
Top-Selling Pastor Goes Quarterly - WSJ.com
JANUARY 27, 2009 WSJ article by RUSSELL ADAMS on pastor Rick Warren's JV w. Readers Digest to launch Purpose Driven Connection.
christianity  evangelicalism  Rick_Warren  business_development  magazines  social_networking  churches 
january 2009 by jerryking
Dow Jones Solutions for Wealth Management
Also to get a copy of CEG's exclusive research Best Practices of Elite Advisors, visit www.solutions.dowjones.com/elite
wealth_management  tools  exclusivity  high_net_worth  Dow_Jones  business_development  filetype:pdf  media:document 
january 2009 by jerryking
globeandmail.com - Aggressive bid to tackle city's diversity deficit'
Jan. 27, 2009 | G&M| by JENNIFER LEWINGTON on a program,
DiverseCity on Board, which taps into talent pool of immigrants to boost
number of qualified minorities on public and non-profit agencies
Toronto  diversity  business_development  ideas  Jennifer_Lewington  boards_&_directors_&_governance  talent_pools 
january 2009 by jerryking
Engineering Firm Charts Ties - WSJ.com
Jan. 26, 2009 WSJ article by Phred Dvorak on the use of social
network analysis to map communications amongst employees and boost
collaboration.
mapping  social_networking  Web_2.0  collaboration  business_development  economic_development  knowledge_management  visualization 
january 2009 by jerryking
Expanding in a Wall Street Crisis - WSJ.com
Sept. 27-28, 2008 | Wall Street Journal | by Katy McLaughlin.
Article details plans by chef David Bouley to open multiple new
locations despite the unfolding of the worst financial crisis in
decades.
business_development  restaurant_reviews  food  restaurants  economic_downturn  David_Bouley  restauranteurs  Katy_McLaughlin 
january 2009 by jerryking
To Help Collect the Bills, Firms Try the Soft Touch - WSJ.com
JANUARY 22, 2009 WSJ article by SIMONA COVEL and KELLY K. SPORS on things small businesses can do to collect on bills.
Freshbooks  blogging  business_development  running_a_business  small_business  Kelly_K._Spors  Simona_Covel 
january 2009 by jerryking
Bob's Marketing Blog Aims To Be a Fun Read for Clients - WSJ.com
MARCH 6, 2008 WSJ article by LAURA LORBER on a novel instance of corporate blogging using a virtual character.
Web_2.0  blogging  small_business  business_development 
january 2009 by jerryking
Connecting With Customers Online: Readers Have Their Say
Feedback by readers on WSJ.com's small business blog,
Independent Street, to March 6, 2008 Small Business Link looking at the
way that companies are managing their Web presence to foster
relationships with existing and new customers.
social_networking  small_business  business  business_development  community  Web_2.0 
january 2009 by jerryking
Firms Back a Plan to Put The Green in 'Green Gold'
JANUARY 18, 2008 WSJ article by Tom Wright on the move afoot by
industrial users of palm oil to have it certified to attest that its
production was not environmentally harmful
palm_oil  business_development  ideas 
january 2009 by jerryking
globeandmail.com - Taking ideas to market: an insider's view
Oct. 16, 2007 G&M article by Charles Finlay profiling Avanindra Utukuri, president and CTO of Nytric Ltd.
product_development  business_development  ideas  manufacturers  innovation  Nytric  monetization  commercialization 
january 2009 by jerryking
globeandmail.com - Reading, writing ... and reps
June 26, 2007 G&M article by Siri Agrell on how toy
companies and fitness chains are cashing in on concerns over childhood
obesity with tot-friendly exercise equipment.
exercise  fitness  business_development  children  weight_loss  obesity 
january 2009 by jerryking
France Telecom's big rethink is a tough call
05 Apr 2006 FT article by Adam Jones outlining how France
Telecom must find a new business model to respond to VoiP erosion of the
traditional revenue streams.
VoIP  business_development  France_Telecom  business_models  revenue_erosion 
january 2009 by jerryking
Bills Make Room for Advertising
WSJ article by Christopher Lawton on the decision by some
companies to insert ads and promotional offers directly on the bill or
statement
invoicing  ideas  Freshbooks  business_development  advertising 
january 2009 by jerryking
Slide Cuts Deals With Time Warner, CBS - WSJ.com
Oct. 1, 2008 article by Jessica E. Vascellaro about social
networking software supplier, Slide, and its new revenue from
distributing content for Media Companies.
business_development  Slide  social_networking  ideas  5_Blocks_Out  Jessica_E._Vascellaro 
january 2009 by jerryking
Businesses Take a Page From Design Firms - WSJ.com
Nov. 10, 2008 |WSJ | by Phred Dvorak on how design firms are
assisting institutions that want to rethink the services they
deliver...Sloan-Kettering's work with IDEO comes as businesses
increasingly tap the design world for fresh ideas on management. Some
are struggling with new business models and unexpected rivals; others
seek new approaches to old problems.

Stanford University has an IDEO-influenced Institute of Design that
teaches "design thinking" for tasks like recruiting or running a virtual
meeting. New York public-radio station WNYC sent executives to study
those techniques last year, before launching a new morning show.

Doblin Inc., a Chicago-based design-strategy specialist, recently helped
a health insurer develop new products and an Asian telecommunications
firm identify new markets, says John Pipino, a senior associate. Doblin
was bought last year by management consultant Monitor Group.
design  innovation  business_development  creativity  IDEO  Tim_Brown  business_models 
january 2009 by jerryking
Cargill's Inside View Helps It Buck Downturn
Jan 14, 2009, WSJ article on Cargill.

"Cargill freely acknowledges it strives to profit from that information.
"When we do a good job of assimilating all those seemingly unrelated
facts," says Greg Page, Cargill's chief executive, in a rare interview,
"it provides us an opportunity to make money...without necessarily
having to make directional trades, i.e., outguess the weather, outguess
individual governments."
CEOs  Cargill  business_development  market_intelligence  scuttlebutt  insider_information  information  information_flows  commodities  grains  farming  agriculture 
january 2009 by jerryking
Wal-Mart website launches free classified ads service
June 3, 2008 FT article by Jonathan Birchall detailing Wal-Mart's push into the classifed ads market.
Wal-Mart  classified_ads  business_development  Jonathan_Birchall 
january 2009 by jerryking

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