THE NEW GLOBAL WE.

Turning Your Life Around to Win in Business

Posted in Big Thought, People, Pulpit by Harsha on May 13, 2008

This is truly an inspirational story not because of the ultimate success in business but because the protagonist Bob Williamson was a former druggie and homeless man. He was like one of those guys you see on busy intersections today, juggling tennis balls or selling the local newspaper.

Bob is a man after my own heart because he is in the business of providing software to school cafeterias, among other such large institutions. I’m deeply interested in this space because if you’ve been to a school lunch room or University cafeteria, you’ll be amazed at the sheer amount of food. While I don’t have any hard facts on hand, I am sure that almost 75-80% of the food goes wasted. When looked at nationally, there are over 5000 universities in the US and far more number of schools. The waste is endless.

I’ve always believed that solutions to these socio-economic problems must be capitalistic in nature. Of course, a non-profit model also works, but we all know the clear difference between the two. People sit up and listen when there is money to be made in solving a problem. Also, it would be in a food service company’s best interest to better estimate food demand and reduce waste in order to boost profits. While I am sure the Sodexho’s of the world are already doing that, I will also tell you that they’re not doing a good job. And therein lies the opportunity.

A recent show about freeganism got me thinking about developing a for-profit business plan that will move wasted food out of the hands of grocery chains, bakeries and cafeterias and into the hands of the homeless and needy and quite simply, people who want to buy food at cheaper prices. I am also happy to discuss if you want to sound off on your own ideas about how a money-making idea can make it easier to take good wasted food and move it into the hands of hungry people.

BusinessWeek

Inc. Magazine

Profile on corporate website

Innovation

Posted in Big Thought, Business, People, Questions by Harsha on April 22, 2008

Jeff Bezos was interviewed by BusinessWeek for their story on Innovation. I can’t be more of a fan of Jeff Bezos. I loved reading his story a few years ago, as having gone from a quirky hedge fund manager to being the founder of Amazon. He is truly one of the sharpest minds out there having lived through the dotcom bust riding a pure -to use outdated dotcom verbiage- “clicks and mortar” play.

BW asked a very poignant question and I quote “Q: Every company claims to be customer-focused. Why do you think so few are able to pull it off?”. Jeff’s answer just blew me away. He says “Companies get skills-focused, instead of customer-needs focused. When [companies] think about extending their business into some new area, the first question is “why should we do that—we don’t have any skills in that area.”

I thought about how it goes down at my place of work and how it probably is at your jobs as well. Or maybe at your own businesses. Almost everyone’s instinctive reaction to an innovative, out-of-the-box-idea is “But we can’t do that” or “It is not part of our model” or “You’re crazy!”. Recently, I had the honor of earning the indignation of my colleagues and a boss when I suggested tagging leads to a salesperson for life – i.e., if salesperson A uses salesperson B’s lead, then A should be given a (small) referral fee for the life of the deal that B put together with that lead. You should have seen the huffs and guffaws that went around the room and I was quickly pounced on by everyone. Needless to say, the internal confusion about compensation for sharing leads remains unresolved and is going to result in a lot of disastrous meetings and confusion with a last minute solution cobbled together and put in place. The idea was to move away from an ownership model, let salespersons relax about cross-sells and focus on increasing their business.

Jeff is not suggesting that if you run a painting company to start selling flowers. No way. The point of focus in his words are “A much more stable strategy is to start with “what do my customers need?”. He says Amazon’s Kindle is a great example. He doesn’t say what prompted him to develop this new gadget but one can imagine that it might have stemmed from delivery delays that buyers might have experienced on Amazon. If you were savvy enough to buy all your books from Amazon, then you probably want to get to the book faster. And so Kindle was born.

This was the most insightful questions for me from the interview… it clearly validated my way of thinking, thank God! One of the ideas I picked up from the jokers at SearchMyCampus.com is to offer a service if there is a critical mass of folks asking for it. By that I mean, if you’re in the painting business and a certain number of your clients (say 2 out of 10) ask for spackling services then that is something you might want to review. 1 out of 10 might be a random request but 2 out of 10 signals the start of a pattern. 3 out of 10 and you should start hiring the right folks and buying the equipment and by 4 out of 10, you should be ready to do your first spackle job.

This is great for me personally as well because I clearly recognize that I do not possess all types of skills. I am good in some and suck at others. But instead of being skill based (can you make presentations? Can you train your team? Can you manage people? etc.) Jeff now makes it easy for the million of us by suggesting retaining focus on needs. If you are not able to manage people, then you can find someone. Ditto for all other skills. Seems like the winner is the person who keeps his/her ears open to client needs and orchestrates the execution to provide solutions to them. Simple? 🙂