recentpopularlog in

jerryking : emotional_commitment   7

Retail Instincts Propel Investor to Venture Capitalism’s Top Tier - The New York Times
By KATIE BENNER and MICHAEL J. de la MERCEDMARCH 26, 2017

Ms. Green is an unorthodox venture capitalist for several reasons. Apart from having never worked at a venture capital firm before starting her own in 2012, she is also a woman in a male-dominated field. (Of the top 20 venture investors this year, only two were women.) And unlike many generalist venture investors, who work in a range of areas, Ms. Green focuses specifically on commerce and other retail-related start-ups.....Ms. Green’s roots in retail run deep. She began her career as an accountant auditing retailers. In the late 1990s, she covered those companies as a stock analyst for Montgomery Securities, studying wonky measurements like customer traffic in retail locations and a store’s profitability per square foot. She also observed the rise of brands like Abercrombie & Fitch, Coach and Ugg.

She soon concluded that online commerce would underpin the next generation of important retail brands, but that consumers would not rely on just one way to shop. With the rise of Amazon and other online retailers, Ms. Green saw more bankruptcy filings from traditional retailers, as well as news of store closings and reports of market share shifts. But she also saw stores do well when companies could make an emotional connection with shoppers and better analyze their behavior.

“Retail is now totally propelled by consumers and their needs,” she said. “People can buy what they want in any way that they want it. That trend started a long time ago, and it has really changed everything.”.....In 2003, Ms. Green decided to jump from analyzing this shift to investing in it. For a time, she worked as a consultant to a private equity firm before turning to venture capital because of her interest in young companies. In 2010, she raised an angel investment fund to make one-off investments in companies like Birchbox, a cosmetics subscription service, and Warby Parker, an eyeglasses retailer, while she studied how to raise a venture fund. In 2012, Ms. Green raised a $40 million venture fund. The investment firm Cendana Capital contributed $10 million, despite the fact that she had never worked as a traditional investor or tech entrepreneur.
venture_capital  vc  women  retailers  angels  exits  e-commerce  emotional_commitment  brands  emotional_connections  Kirsten_Green  Birchbox  Warby_Parker  top-tier  investors 
march 2017 by jerryking
How cosmopolitans can win the argument
9 April/10 April 2016 | Financial Times | Simon Kuper

1. Don't lead with facts. They rarely persuade anyone any more.
2. DOn't use elite spokespeople
3. You win arguments by winning over the middle.
4. Talk mainstream values
5. Don't repeat the other side's story, not even to refute it.
6. Avoid "Them and Us" stories
7. Show, don't tell.
8. Don't call people racists.
9. Don't be boring
Donald_Trump  cosmopolitan  howto  Simon_Kuper  logic_&_reasoning  nationalism  rhetoric  buy-in  emotional_commitment  counterintuitive  skeptics  disagreements  argumentation 
may 2016 by jerryking
To Persuade People, Tell Them a Story - WSJ.com
Nov. 9, 2013 | WSJ | By Dennis Nishi.

"Lead With a Story: A Guide to Crafting Business Narratives That Captivate, Convince, and Inspire.

* Use far fewer slides. Use a lot more anecdotes
* Turn presentations into stories that your audience can relate to, instead of lecturing them on what needs changing.
* Judge performance on the quality of questions being asked and the quality of feedback received.
* Being an effective storyteller requires preparation.
* Move beyond facts and figures, which aren't as memorable as narratives, says Cliff Atkinson, author of "Beyond Bullet Points."
* Many people in business think raw data is persuasive. But when you're dealing with people from other departments and in different fields who don't understand how you got that data, you can lose them pretty quickly. * Step back and put yourself into their shoes and take them through the process of understanding," "Distill the most important facts and wrap them in an engaging story."
* Find ways to connect with your audience on an emotional level, Neuroscientists have discovered that most decisions—whether people realize it or not—are informed by emotional responses. Do legwork to find significant events in your audience's lives or your own that you can base your story on or use to reinforce your points.
* Insert anecdotes about taking care of a sick family member or a memorable customer story, says Mr. Smith, author of "Lead With a Story: A Guide to Crafting Business Narratives That Captivate, Convince, and Inspire."
* Organize your story into three acts and starting by establishing context. You want to let your audience know who the main characters are, what the background of the story is, and what you'd like to accomplish by telling it, he says. Open, for example, by describing a department that's consistently failed to meet sales goals.
* Move on to how your main character—you or the company—fights to resolve the conflicts that create tension in the story. Success may require the main character to make additional capital investments or take on new training. Provide real-world examples and detail that can anchor the narrative, he advises.
* The ending should inspire a call to action, since you are allowing the audience to draw their own conclusions about your story versus just telling them what to do. Don't be afraid to use your own failures in support of your main points.
* Whatever you do, don't preface your story with an apology or ask permission to tell it. Be confident that your story has enough relevance to be told and just launch into it. Confidence and authority, he says, help to sell the idea to your audience.
storytelling  presentations  Communicating_&_Connecting  persuasion  books  P&G  howto  pitches  buy-in  large_companies  emotional_commitment  narratives  self-confidence  preparation  empathy  seminal_moments  contextual  think_threes  anecdotal 
november 2013 by jerryking
Due diligence
Apr. 1997 | CMA - the Management Accounting Magazine. 71.3 (): p17.| James G. Webster.

...Woodgate's own process of due diligence started with market conditions and customers, and then worked back through the product line to manufacturing and technology issues and, finally, to detailed financial information, which he believes was the right sequence for someone coming in from the outside.

They conducted an in-depth analysis of the market, sales history, channels of distribution, competition, customer base, and growth opportunities. The profitability and cash flow generated by each product line was analysed, as was the need for product rationalization and investment in technology....After comparing the company's products with those of the competition and interviewing four of Allanson's customers, it was concluded that the company's products were competitive in terms of quality, cost and technology. In fact, Allanson dominated the Canadian market and had a significant share of the U.S. market....Analysis of the size and dynamics of the electric sign industry was based mainly on a detailed report contained in Woodgate's business plan. The report's findings indicated that the market for the company's electric sign products had stabilized and there was reasonable growth potential for Allanson. The statistics and premises of this report were confirmed by independent sources....Woodgate says his most important asset throughout the process was his team of consultants. "Perhaps the greatest test of their skills lies in the last five per cent [JCK: i.e. last_minute] of the due diligence process when important problems sometimes arise with the potential to kill the deal. The buyer, at this stage, has become emotionally committed to the deal and is in no position to assess danger in a balanced, thoughtful way.
buying_a_business  cash_flows  dispassion  due_diligence  emotional_commitment  emotional_connections  howto  last_minute  product_portfolios  product_profitability  RoyNat  unsentimental 
november 2011 by jerryking
Excerpt: Buy-In: Saving Your Good Idea from Getting Shot Down
October 8, 2010 | BusinessWeek | In an edited excerpt from
their new book, John Kotter and Lorne Whitehead introduce a
counterintuitive approach to turning skeptics into advocates for your
new idea, plan, or proposal....The true buying-in of a new idea is about
winning over hearts and minds--it is an emotional commitment. The
single biggest challenge faced when obtaining buy-in for a good idea is
getting people's attention. Don't try to overcome attacks with tons of
data or logic. Instead, do what might seem to be the opposite. Keep
responses short and above all, RESPECTFUL. Goal is to "win" the thoughts
and feelings of the majority, not the 1 or 2 critics so watch the crowd
very carefully. Don't try to wing it, even if you know all the facts
thoroughly, even if the idea seems bulletproof, and even if you expect a
friendly audience. Preparation can significantly build confidence and
reduce anxiety.
resistance  obstacles  excerpts  HBS  persuasion  John_Kotter  howto  ideas  books  Communicating_&_Connecting  pitches  life_skills  Managing_Your_Career  attention  attention_spans  preparation  emotional_commitment  self-confidence  buy-in  counterintuitive  skeptics  the_single_most_important 
march 2011 by jerryking
Understanding change in a business
The Globe and Mail. Seventy per cent of big changes in a company fail; John Kotter explains why

The Kotter model

In the 90s Harvard-professor John P. Kotter had been observing this process for almost 30 years. In his book Leading Change he argues that to make big changes significantly and effectively, there are generally eight basic things that must happen:

INSTILL A SENSE OF URGENCY. Identifying existing or potential crises or opportunities. Confronting reality, in the words of Execution-authors, Charan and Bossidy.
BUILD A GUIDING COALITION. Assembling a strong guiding coalition with enough power to lead the change effort. And make them work as a team, not a committee!
CREATE A VISION AND SUPPORTING STRATEGIES. We need a clear sense of purpose and direction. In less successful situations you generally find plans and budgets, but no vision and strategy; or the strategies are so superficial that they have no credibility.
COMMUNICATE. As many people as possible need to hear the mandate for change loud and clear, with messages sent out consistently and often. Forget the boring memos that nobody reads! Try using videos, speeches, kick-off meetings, workshops in small units, etc. Also important is the teaching of new behaviours by the example of the guiding coalition
REMOVE OBSTACLES. Get rid of anything blocking change, like bosses stuck in the old ways or lack of information systems. Encourage risk-taking and non-traditional ideas, activities, and actions. Empowerment is moving obstacles out of peoples' way so they can make something happen, once they've got the vision clear in their heads.
CREATE SOME QUICK WINS. This is essential for creating momentum and providing sufficient credibility to pat the hard-working people on the back and to diffuse the cynics. Remember to recognize and reward employees involved in the improvements.
KEEP ON CHANGING. After change organizations get rolling and have some wins, they don't stop there. They go back and make wave after wave of other actions necessary for long-term, significant change. Successful change leaders don't drop the sense of urgency. On top of that, they are very systematic about figuring out all of the pieces they need to have in place before they declare victory.
MAKE CHANGE STICK. The last big step is nailing big change to the floor and making sure it sticks. And the way things stick is through culture. If you can create a totally new culture around some new way of managing, it will stay. It won't live on if it is dependent on one boss or a couple of enthusiastic people who will eventually move on.

Kotter.gif

We can divide these eight steps in three main processes. The first four steps focus on de-freezing the organization. The next three steps make change happen. The last step re-freezes the organization on the next rung on the ladder.

Kotter avoids any discussion re how this high level approach ties into Project Management. Anderson & Anderson (The Change Leaders Roadmap) adopt a similar high level approach however do tie it into the lower level by adding in a lot of trad. PM items.
backlash  John_Kotter  organizational_change  change_management  urgency  Communicating_&_Connecting  roadmaps  change_agents  risk-taking  obstacles  obstructionism  entrenchment  quick_wins  non-traditional  shared_consciousness  momentum  operational_tempo  project_management  action_plans  eels  emotional_commitment  buy-in  resistance 
october 2010 by jerryking
The New Phrase for Indulgence: ‘Passionate Investing’ - The Wealth Report - WSJ
* May 17, 2010, 11:47 By Robert Frank

“Wealthy individuals still have money but now they are combining investment with improving the quality of their lives through investing in assets with which they have emotional attachments,” says Susan Ellis, financial analyst at Datamonitor. “It is a way to invest and spend simultaneously while adding to the richness of their lives,” she says.

She adds that the wealthy are seeking “safe havens” that they can also enjoy, like jewelry and art.

She concedes that “the line between investment in tangibles and luxury expenditure can sometimes be blurred, particularly in a period of market uncertainty.” Yet she says the jump in some luxury sales is owed in part to “passionate investing.”

I agree that some of the the wealthy, having watched their millions or more disappear in 2008, would much rather lose money on things they can drink, drive or wear. But I’m not sure they see it as “investing.” To them, it could be a more simple matter of spending being far more enjoyable than losing an equivalent amount in the markets.
high_net_worth  Robert_Frank  passions  assets  emotional_commitment  emotional_connections  investors 
may 2010 by jerryking

Copy this bookmark:





to read