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303468aa54e47f43cff07ee2c4f5546b
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https://www.forbes.com/sites/forbeslacouncil/2019/03/04/five-ways-to-build-a-strong-online-presence-for-your-brand/
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Five Ways To Build A Strong Online Presence For Your Brand
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Five Ways To Build A Strong Online Presence For Your Brand
Business today is all about branding. Consumers become brand loyalists as a result of a company’s presence, which includes their visual aesthetics, morals and motivations. These days, if you don’t have a defined brand or any social media or online presence, you could be standing out from the competition — and probably not in a good way.
Members share their best advice on building your online presence. Photos courtesy of the individual members.
It’s crucial to have a significant presence online because many potential consumers read posted reviews, scroll company pages and shop exclusively online. Consumers also want to feel confident that their money is supporting a company with beliefs or values that they can feel good about, and are likely to read your company's website to find out more about your brand. Your online presence is often the first thing a customer will engage with, long before they decide to make a purchase.
To help you establish or revive your company’s online presence, we asked members of the Forbes Los Angeles Business Council to share their top strategies. Here’s what they had to say.
1. Put In The Work
Creating a presence for your brand is everything these days. Doing so requires attention and, frankly, investment. Whatever touchpoint a consumer has with your brand, whether it’s online, via social media or in person, they all need to communicate the same message. Make intelligent investments in these areas to ensure any touchpoint a consumer has with you is a good one. - Kelly Howard, EightSixtySouth
Forbes Los Angeles Business Council is the foremost growth and networking organization for business owners in Greater Los Angeles. Do I qualify?
2. Maintain A Good Reputation
I started in 2003 when Yellow Pages were the dominant medium to search a home service business. Today you have to know Adwords, Yelp and Angie's List. You have to do SEO and daily/weekly status reviews. It’s also important to maintain a good reputation on all of these platforms. At my company, we are all motivated to get positive reviews and we know that it’s important to avoid negative reviews at all costs. - Dmitriy (Jim) Kolchin, ReSHARP.COM
3. Consult With A Web Designer
I recommend looking at your competitors’ websites and also consulting with a web designer. My web designer is on top of the trends online and also working to expand our presence online. - Nicole Dunn, Dunn Pellier Media, Inc.
4. Be A Good Storyteller
To create a good online presence, you should speak to your audience, define your overall story, pick the best platforms for you and create natively for each platform. The best online presence tells a story natively in the medium of choice, such as Instagram with photos and videos, Facebook with posts, Yelp with curated content and blogs with long-form content. Ensure that every touch point tells your story. - Robert Brill, Brill Media Company
5. Start With A Strong Website
It starts with a decent website. Make sure you have web analytics in place and then build out your social presence and track how you're being found. Make adjustments to take advantage of stuff that works and find new opportunities when something doesn’t work. Reallocate spend as needed. As for social, I find LinkedIn to be under-appreciated for the engagement it delivers. - Brett Crosby, PeerStreet
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bbbc124041a5d111be19e59c1170265a
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https://www.forbes.com/sites/forbeslacouncil/2019/03/04/the-sharing-economy-is-still-growing-and-businesses-should-take-note/?sh=25454af74c33
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The Sharing Economy Is Still Growing, And Businesses Should Take Note
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The Sharing Economy Is Still Growing, And Businesses Should Take Note
In all-too-recent times, buying a house, owning a car and the concept of allocating possessions was the pinnacle of “making it” in life. But with sweeping changes in technology, a less-is-more, collaborative standpoint has gained ground and is leaving ownership behind.
Underutilized assets are abundantly available in a world with too many people that have too many things. As smart folks have begun to figure out, sharing lonesome assets kindles economic growth, turns stale resources into money and relieves cost burdens of ownership while chaperoning sustainability. Emancipation from owning is becoming an increasingly freeing notion, and sharing is fostering seeds of community -- sharing is caring, right?
The sharing economy is projected to grow from $15 billion in 2014 to $335 billion in 2025. Quicker than ever, we're shifting to the world of a shared economy.
What Is A Shared Economy?
A shared or sharing economy is an economic system in which assets or services are shared between peers or businesses for free or for a fee. The concept is to enhance the usability of assets, making their lifespan more worthwhile.
Sharing isn’t quite a new way of life. Rentable or shared goods have been around for ages, but technology and ease of connections through the digital world have boosted accessibility and convenience to users who now have a better ability to seek things out — often through apps — and obtain them easily.
Who’s Involved (And How You Can Join Them)
Need a cheap, fast way to get around town? Bird Scooter’s got your wheels. Ride-hail with Uber, or rent someone’s extra bedroom or temporarily available apartment space on Airbnb for cheaper than a hotel. Get professional cameras gear to shoot your next indie film from lensrental.com. Rent Apple computers for your newly hired team of designers to finish a month-long project -- no need to buy.
There are thousands of companies and individuals with assets waiting to be used. I believe entrepreneurs should start looking at alternative ways their clients could access and use the products they are currently selling. For example, if you sell high-priced luxury goods, maybe you want to consider a rental/subscription option.
Another tip would be to examine current assets where the usage rate is low. For instance, if you run a video production company but only use your camera gear five months out of the year, you could use services like sharegrid.com to rent out and make revenue with your underutilized cameras.
That's exactly how I got started renting high-performance computer systems. Creatives that wanted them couldn't afford to buy them, and the rental model really stood out to me as the ideal solution. Especially because in the entertainment industry, most projects scale up and down very fast; investing in specialized hardware for a short time doesn't make sense for a lot of companies.
Is there a similar need in your industry? If you're not convinced yet, here are several reasons your business should consider the potential of joining the shared economy:
Cost-Saving Incentives
Most cars sit idle 95% of the time. For some, owning a car that comes with interest, fees and insurance can become a more significant cost burden than utilizing ride-hailing networks, public transportation and the occasional rental fee. Travel prices may be reduced and often come with a better experience when you tap opportunities like Airbnb, home-swapping networks and ride-hailing methods. And, as I've learned from building our business, expensive equipment is usually not worth the price of ownership — but many companies make it readily available through a quick and cheap rental. Low-cost shared-economy options save consumers and companies money while contributing significantly to individuals on the other end.
Many of us have a lot of things that we don’t need -- according to one estimate, 80% of items in our home are used less than once a month, and yet self-storage rates are rising. Furthermore, things have a shelf life and become outdated quickly. When we share among ourselves for a small fee or rent from businesses or individuals, equipment or assets actually get used, more people can enjoy them, and there is money to be made.
Sharing May Be 'Greener,' Too
Sustainability has become a prime focus of the quickly emerging sharing economy. One hundred scooters that sit in a garage for a year aren’t getting a fraction of use (or monetary income) of a single scooter that companies like Bird are providing, and ride-hailing is removing thousands of cars from the street and curbing emissions to boot. It has upsides for businesses too: If you are purchasing computers for your company based on growth forecasts that don't pan out, you may be sitting with many idle computers. It makes much more sense to rent these computers as you scale up; this strategy will ensure your projects are profitable and you will also significantly reduce the amount of e-waste that will later end up in landfills.
Why Sharing? The Millennial Answer
Millennials, who are driving most of the growth in the sharing economy, have adopted new values. Efficiency is the utmost priority, material yearnings are starting to fade, and accessibility to experiences (like eating out at restaurants with friends, not spending money on possessions like expensive jewelry or new furniture) takes precedence over ownership.
With many millennials going to college or just exiting school during a severe recession, resourcefulness surfaced — it wasn’t necessary or even feasible for some to own a car anymore, and material possessions increasingly took on an air of unimportance. For this generation, ownership is more of a burden than a source of pride — not suffering under the weight of a car payment, sharing Netflix accounts, cooking food for each other or acting in different ways that chaperone more community is the foundation of the average millennial mentality. Right behind them is Generation Z, which already has the collective spending power of $44 billion and will soon surpass millennials.
With 75% of the workforce estimated to be comprised of millennials by 2025, there's going to be a major shift in purchasing decisions. As the newer generations take over the consumer and business world, their needs and values must be met; otherwise, your business may suffer the fate of companies like Blockbuster and Toys "R" Us. The sharing economy is taking flight, and consumers have made it clear that significant and small-scale sharing operations are here to stay.
Forbes Los Angeles Business Council is the foremost growth and networking organization for business owners in Greater Los Angeles. Do I qualify?
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0d7227af8f2b4bcbbe36ee764b6a541e
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https://www.forbes.com/sites/forbeslacouncil/2019/03/05/what-makes-a-brand-successful/
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What Makes A Brand Successful
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What Makes A Brand Successful
There's no doubt that brand recognition can help bring in more sales and profits for a company, especially when it's done right. Consider three exceptionally well-known brands: Apple, which became the first trillion-dollar U.S. company; Disney, whose theme parks are showing record-setting growth in 2018, despite raising prices; and Nike, which saw a 31% spike in online sales after the launch of a new campaign.
Of course, brand recognition alone isn't enough to determine a company's success. Sears, for example, filed for bankruptcy protection in October, and Toys R Us closed its doors last June. All of these companies had great brand recognition. So what separates the companies seeing major growth from the ones going out of business?
There's a common misconception that a brand is a name, a logo, a tagline, a visual. While these pieces do play a role in branding, this is not what branding is really about.
A Brand Is A Connection
The first thing to understand about successfully branding your business is that a brand is based on a deep connection. As in any relationship, that connection must include trust and an emotional bond. Without those things, the relationship won't last.
According to Harvard professor Gerald Zaltman, 95% of all purchase decisions are made subconsciously. Research shows that emotions play a huge role in the subconscious decision making process. That means that brands which make people feel a strong, positive emotional connection are going to gain loyal fans in the long run, which brings a competitive advantage.
On the other hand, when there is no emotional bond, there's no incentive for customers to be loyal to the brand, and it becomes a commodity. So, how do you create this emotional connection with your audience? Here are three steps I advise my clients to follow.
1. Take A Stand
People connect with your brand when you have a strong point of view or belief about an issue, especially if they have similar beliefs and values. However, this doesn’t mean you have to be political or say something controversial to connect with your audience.
Instead, identify something you strongly believe in and that you want your brand to stand behind. Here are a few examples:
• Patagonia stands for the environment.
• Apple stands for the creatives and misfits.
• Disney stands for creating magical experiences for families.
• Lush Cosmetics stands for handmade cosmetics with fresh ingredients.
Taking a stand behind a belief can be disruptive because it helps people notice your brand and it gives people a reason to differentiate you from the competition. To identify what you stand for, start by looking at why you began your company in the first place. Is there something that you believed in? Is there something you wanted to change in the industry?
2. Embody Your Belief
It’s one thing to say you believe something, but it’s another thing to embody that belief through your brand. Consumers are savvy. They can tell if a brand is fully invested in their beliefs or if it's just saying something because it's trendy.
Embodying your beliefs happens through the brand experience you create (in your copy, brand visuals, product design, advertising, etc). The more you embody your beliefs throughout the brand experience, the better. Lush Cosmetics, for example, weaves its belief in handmade products into every part of its brand. Its ads mention fresh ingredients, and its stores are designed to evoke a farmer's market.
This process of embodying your brand beliefs can also apply to personal brands. Lady Gaga has cultivated a massively loyal following for being who she is and standing up for equality and people who feel like they are misunderstood. As a result, she has a fiercely loyal fanbase.
To infuse your beliefs into your brand, think about all the moments in which your brand will interact with your customers, then brainstorm how can you integrate your beliefs into those moments.
3. Share Your Story
Finally, people connect emotionally when they connect with the story of your brand. Everyone loves a great story. That's why bestselling books and blockbuster movies often capture the hearts of the audience. Great stories move people emotionally and forge unforgettable bonds. Have you ever read a book or watched a movie that you still thought about days or even weeks later? That's the power of a story.
A strong brand story is no different. Every day, people are bombarded with different products and information. Consumers have countless options to choose from when they're making a purchase. But if you have a strong brand story, the emotional connection acts as an advocate for your brand.
One of my favorite brands is Toms. I love that after the founder went to Argentina and saw kids playing on the streets without shoes, he created his company's signature giving model that donates a shoe for every purchase. Like many others, after hearing this story I immediately bought into the company's mission, philosophy and values and became a loyal customer and brand advocate.
Crafting a strong brand story starts with being genuine — people can tell when a brand is genuine or not. Then, think about your brand's journey and the evolution you experienced to get to where you are now. You probably overcame challenges, learned something that changed you or discovered your passion.
Finally, humanize your story by adding emotional elements. How did this journey make you feel? By bringing in the emotional elements to your brand, you’ll be able to connect to your audience in a deeper, more meaningful way. This will, in turn, create more brand loyalty and love for your brand.
Forbes Los Angeles Business Council is the foremost growth and networking organization for business owners in Greater Los Angeles. Do I qualify?
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725dad1d5621030d4ad57ae082799652
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https://www.forbes.com/sites/forbeslacouncil/2019/03/12/what-social-media-can-do-for-your-business/?sh=54631b03159e
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What Social Media Can Do For Your Business
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What Social Media Can Do For Your Business
Are you on social media, or do you use social media? There's a difference. In today's world, it seems like everything is online. Printed media, it seems, is becoming less relevant, which makes advertising in it less powerful. In fact, I can't remember the last time I picked up a magazine and read it. In the past few years, I've really discovered what social media can do for my business, and I've cracked the code on how to make the most of it.
When I first began my career, I relied heavily on Google Adwords, local magazine spreads and a few other forms of paid advertisement in order to get the word out about my business. It was extremely expensive and, as the years went on, I realized that the print ads weren't feeding my business at all. I began realizing that more of the world was on the internet and I could start connecting with other people on social media about my business. When I realized that I could actually advertise my business for free, I stopped using Google and magazine spreads immediately.
It took a few years of dedicated work on sites including Facebook and Instagram, but I figured out how to use these platforms to transform my business. That was a big deal. When I first started using the platforms, I wasn't sure it would work — especially Instagram. It seemed like these platforms worked better for people in the fashion and beauty industries (I'm a cosmetic dentist). But where there’s a will there’s a way, and once I realized how to utilize the platforms correctly, my business grew exponentially and I started getting patients directly from Instagram and Facebook. Those patients referred family and friends, and the growth continued. One of the best parts was that I cut out almost all of my advertising expenses. I believe that if this can work for a small business like mine, it can work for any business.
The reason it took so long was that in the beginning, I was simply on social media — I wasn't actually using social media. What's the difference? Think of being on social media as having a "to-do" list and marking "post on Facebook/Instagram" as one of the tasks that you simply check off once it's completed. When you are using social media, on the other hand, it means that you are posting with a strategy and you are creating content that is intentional and will serve your business. You use the platform(s) to showcase yourself and your company. See the difference?
If you're reading this and you're wondering how to get started, let me help you understand how social media works. All social platforms are different, but let's use Instagram as an example. Instagram is a very visual platform, so you should think of your feed like a magazine for your business. When someone lands on your page, what do you want them to see? How do you want them to feel?
Now that you have those two questions answered, the next thing you're going to want to do is to create content. Since I'm a cosmetic dentist, I was selling a high-ticket item on my page — not a $15 lip gloss or a $10 shirt. I was selling procedures that range from hundreds to thousands of dollars. Learning how to sell my services on social media really became an art.
Here's the general rule: No one wants to be sold to over and over again. You must create your content as if you were sitting around a campfire with your audience. If you were to talk strictly about business, you would get kicked out of the campfire. but if you connect with people emotionally about your business, that's when you start grabbing people's attention. Create your content in a way that will connect you with your followers and your potential clients. This is what's going to help you turn those followers into customers.
Keep in mind, social media is all about the long game. It's about building a community and helping people get to know you and trust you. Once that happens, they will turn from a follower to a customer. Use social media to showcase personal aspects of your professional business and create experiences for your tribe. Don't be overly focused on sales. You've got to work hard at being consistent and showing up. Remember that social media is a long-term strategy. Dedicate yourself to one platform for a period of time and see how your business can flourish.
Forbes Los Angeles Business Council is the foremost growth and networking organization for business owners in Greater Los Angeles. Do I qualify?
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12219f117061c410899f8309965275bc
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https://www.forbes.com/sites/forbeslacouncil/2019/05/16/leveraging-benefits-and-perks-to-drive-employee-recruitment-and-retention/
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Leveraging Benefits And Perks To Drive Employee Recruitment And Retention
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Leveraging Benefits And Perks To Drive Employee Recruitment And Retention
Today’s workplaces include multiple generations of employees with different tastes, interests and personal preferences. Naturally, these differences extend to the types of health care and other benefits and perks that employees find valuable and appealing.
While health insurance coverage is a priority for virtually all employees, there is a growing interest in benefits beyond traditional health care. By thinking outside the health insurance box, you can leverage your benefits program to attract and retain employees in an increasingly competitive talent marketplace.
The Society for Human Resources Management (SHRM) 2018 employee benefits survey found that 92% of employees feel that benefits are important to their overall job satisfaction. However, nearly one third cited their current benefits package as a top reason to look for a new position with a different employer in the next 12 months.
That reality concerns employers as the labor market tightens. Businesses are finding it more difficult -- and more time-consuming — to recruit for open positions. Because of this, many employers are starting to look beyond compensation and benefits packages to attract stronger candidates. These plans may include specific features and other perks appealing to young professionals just out of college, or to those looking to change jobs.
I recommend that small business owners in Los Angeles consider enhancing existing employee programs with the following four programs and features:
• Chiropractic
According to the Centers for Disease Control and Prevention (CDC), a fourth of Americans spend more than eight hours a day sitting down. All that sitting can wreak havoc on our spines, necks and shoulders, leading to stiffness, muscle pain and headaches and ultimately, decreased productivity. On top of that, old sports injuries can aggravate these aches and pains. Chiropractic care can help relieve tension while realigning the back, shoulders and neck, creating a happier, pain-free work environment.
• Acupuncture
Acupuncture is part of a larger wellness trend that includes healthy eating, exercise, stress-reduction and sleep incentives; together, they continue to gain popularity in the workplace. Researchers at Harvard Medical School found that lack of sleep affects judgment, mood and the ability to learn and retain information. That can lead to workplace injuries and accidents. The Rand Corporation noted in a 2016 study that sleep deprivation costs U.S. employers billions of dollars annually in lost productivity. Incorporating acupuncture into a benefits program gives employees a proven way to decrease anxiety, which can help them fall and stay asleep throughout the night. Your team is also likely to be happier, less stressed and more productive when they arrive at the office.
• Health And Fitness Discounts
Increasingly, insurers and benefits administrators are offering savings programs to help employees improve their health and quality of life. They offer discounts on health and active lifestyle products like Fitbits, Vitamix and others, plus low monthly rates at fitness centers and YMCAs and savings on health care specialty services like therapeutic massage. They may further include discounted pricing for members who need dental, vision and hearing services at no added cost to the employer. A prescription drug discount card is often available too, giving employees and their families the opportunity to pay less than their insurance co-pay on prescription medications at participating pharmacies nationwide.
• Entertainment Perks And Employee Discounts
We often spend more time in the company of co-workers than we do with immediate family members. When the weekend finally arrives, time with loved ones becomes a priority as a way to relax. Employers who include access to movie discounts, savings at retailers, amusement parks, sporting events and other attractions in their benefits plans convey a message of overall value to every team member. Being able to take advantage of these perks at any time and with anyone demonstrates your overall appreciation for your employees’ hard work.
I have also seen an increase in businesses incorporating elements like pet-friendly workplaces, flexible schedules, professional development opportunities and more. These can be effective in attracting new employees and keeping your current team intact.
While health insurance and access to medical care will remain a core component of employee benefit plans, businesses that incorporate other valuable add-ons are likely to see overall improvements in the company culture, employee retention rates and even increases in the bottom line.
Forbes Los Angeles Business Council is the foremost growth and networking organization for business owners in Greater Los Angeles. Do I qualify?
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b5a67edef5f8efd0d2749ac93ce6d137
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https://www.forbes.com/sites/forbeslacouncil/2019/06/17/five-things-to-consider-when-hiring-a-startup-marketing-team/
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Five Things To Consider When Hiring A Startup Marketing Team
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Five Things To Consider When Hiring A Startup Marketing Team
You’ve launched your company and need to hire marketing support. You draft a killer job description, blast it to your core team for feedback and together you add every single responsibility, competency and disclaimer possible to hire only the most willing and able genius on the planet. Five pages later, you find yourself questioning the role and probably how the marketing department or even the entire company should be structured.
Before the internet, marketing was a piece of cake. For the most part, it was all about hiring creative brains and relatable type-A's with lots of endurance to execute while dropping some dollar on ads and endorsements. Today, analytics, performance, content, design, digital, social, influencer, email, commerce, retail, experiential, direct, advertising, communications and more all play a hand in landing your brand a chance. You need a unicorn with a unique set of both technical and behavioral expertise, hands-on training, and even certifications to do it with a culturally fit smile.
Before you decide to recruit a marketing mob and add flashing lights to headcount on the profit and loss (P&L), take a minute to consider these five tips.
1. Marketing is not one department.
Your art director is an amazing designer and pumps out their best work after 10 p.m. while alone in the dark. Your sales VP can walk into a penthouse office with a buyer who still blames them for your last out-of-stock and pitch your latest innovation without breaking a sweat. They’re both exceptional employees, but Art won’t present and Sales can’t create. Marketing in itself hosts some diverse personas within its different dimensions: creative, digital, retail, events, PR and others. Each requires very different skill sets, proven experiences and personality traits. It’s best to prioritize these by opportunity and focus on hiring someone who has hands-on experience in the area that offers you the biggest and quickest return. As a startup, chances are you’ll choose digital so you can start driving traffic to your site.
2. Marketing is sales.
Campfire smoke drew our natives to gatherings. The smokier the fire, the broader the visibility and the more people would be impressed to commute and partake in the event. That’s marketing return on investment (ROI), with smoke being the driving tactic and number of attendees being the success metric. We’ve been measuring marketing return forever and just don’t realize it. However, we’ve always been innately conscious of measuring sales. “How many mangos did I trade for some fish today versus yesterday?” Thanks to digital, these two ancient behavioral pillars live closer together than ever and we now value all marketing dimensions by sales conversions. Impressions, opens, clicks and attendees are nice, but sales mean success. For now, find a marketer who swears by conversions.
3. Look for an executor.
Startup life is all about problem-solving and enjoying the daily thrill of it. As you grow, the problems become bigger and you’ll need more thrill-seekers by your side. While interviewing, you’ll likely meet some smart and experienced people, but they are useless to you right now if they don’t have a track record of execution and aren’t willing to turn strategy into tactics and action. Hire someone who can answer “What would you do?” questions with testimonies of having executed — someone who will help build a plan and personally activate it. Along the way, you can both learn from your customers and eventually shape the best strategy for earning, growing and keeping them.
4. Define and distinguish your own role in marketing.
Many founders find themselves building a brand that naturally reflects their lives or needs in some way. Consequently, one of the hardest things for an entrepreneur to do is see their baby off to graduation and into the hands of a marketing professional. Even if he does, it’s tough not to look back or drive around the block a few times wondering if everything is going to be okay. Some founders never leave the block and become helicopter founders. This can drive great talent away as they realize they can’t own their role or please the founder. If you have the right hire, it’s a dangerous place to be as you could end up subconsciously competing with your own marketing hire versus compounding your energy and brainpower for long-term return. Cater the role to your level of integration, clearly communicate your terms, then stay the course. If you can’t let go, you may want to hire an agency.
5. Look for a resourceful creative.
As a startup, you likely don’t have enough or any content to start executing paid ads or even organic social. You’ll want a marketer with a go-to list of reliable software, content, stock image, subscriptions and freelancers ready to design stuff and deliver all sorts of assets. Plus, every marketing dimension involves curating and plugging in design elements, so you’ll want someone who views playing art director as an enjoyable escape from converting and not a burden. As for the resourceful part, be wary of confusing the problem dropper for your problem solver. Ask a slew of “What did you do?” questions and listen for any hints that they could be a serial dropper. It’s easy for anyone to sound the alarm on issues, but you don’t need a rooster. You need an anticipator, fixer and communicator with sound judgment.
Hiring is a gamble. It’s like meeting someone for a few hours and then eloping. For marketing, these points should help mend the game. Look for someone with the dimensional expertise your brand needs today, who can sell and execute while being resourceful and creative — then get out of their way or hire an agency. Unicorns do exist, they just may not have wings.
Forbes Los Angeles Business Council is the foremost growth and networking organization for business owners in Greater Los Angeles. Do I qualify?
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f1fac173ec436156d68061c814e51f99
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https://www.forbes.com/sites/forbeslacouncil/2019/07/30/how-to-navigate-the-new-data-privacy-laws/
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How To Navigate The New Data Privacy Laws
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How To Navigate The New Data Privacy Laws
Data privacy is a complex issue and not well-understood by the general public. We want our privacy protected and are concerned about who has access to our data, yet we will share information for discounts or pick passwords such as “password.” In addition to our Social Security numbers, credit cards and paper medical records, we must be concerned about our digital identities, which are created and expanded when we use social media sites, dating apps and games, and when we visit websites.
This personal data has become an essential and valuable resource. As with any resource held by individuals or organizations, we must protect our assets and learn to create the highest value for them. In this case, it's our intrinsic data value (IDV), which is expressed through who we are and what we appreciate, share, buy and do online.
As a longtime digital marketing and data management technology executive, I’m familiar with the role of an individual’s data identity and the massive economic machine powered by our data. Since we are the sum of our data, anyone doing business must understand both the data ecosystem and the legislative ecosystem that can maintain checks and balances for the data market. Here's how to navigate it.
Ask For Permission And Give Something In Return
The Internet Association defines personal information as “information capable of identifying a specific individual or device that belongs to that individual.” When we share information, it is important to ask how it will be used and protected and if it will be shared with third parties. A company needs to ask for consent to use the data and to provide transparency of its use. If a consumer shares information, will it benefit them? Benefits can go beyond savings to personalized content, VIP events or rewards.
Ensure Data Privacy
Consumers and legislators are becoming increasingly concerned about data privacy, and calls for regulation are becoming more common, leading to the introduction of several bills. The Federal Trade Act also covers data privacy, dealing with privacy and data security, breach notifications, etc. The Internet Association suggests several privacy principles for businesses in the collection and sharing of data and in gaining consent for use of the data.
Comply With Privacy Legislation
States are also interested in data privacy, and California’s Consumer Privacy Act will become law on January 1, 2020. The bill requires detailed disclosures from companies when queried by a consumer regarding what consumer data they collect and what they do with it and provides consumers with greater control over data. Organizations must update privacy notices annually and include information on how CCPA statutes affect data collection and users' privacy options.
The ruling only applies to California residents when in California and applies to companies that generate revenue in excess of $25 million or receive personal information from 50,000 or more California residents, devices or households, or derive at least 50% of revenue from the sale of personal information about California residents. Consumers may file complaints, which may result in fines from $100 to $750 per violation or actual damages, whichever is greater. The state attorney general may challenge a company’s security measures and impose penalties up to $7,500 per violation.
Despite these regulatory strides, it is not easy to ensure that consumer privacy protection is in place. Companies need to have a data privacy governance process or compliance program in place to advise customers on what data is being collected and how long it will be stored. Organizations also need to protect who has access to the various data types, including photos, GPS location data, social media usernames, IP addresses, biometrics, etc.
The first step is to create a data inventory encompassing which data it is storing, where it resides, who uses it, how it’s used and how it relates to business processes. The next step is to determine how and to whom the company markets its products. Depending on the organization’s size and resources, it may need to hire personnel including a chief compliance officer or chief privacy officer to administer the program. The new team should conduct a risk assessment to see where the company is vulnerable to privacy violations and how those infractions can be alleviated. This risk assessment must also include third-party partners that may have access to data.
Businesses must prepare to be ready for California's regulation and future regulations in other states. The two keywords are preparation and transparency: Preparation in having procedures in place for when consumers need to opt in or opt out and exercise their right to request data, and transparency with regard to how data is used. It is time to realize that data privacy is a serious issue, and any infractions will be penalized. Consumers are ready to take control over their data, and the data ecosystem is ready to reform.
Forbes Los Angeles Business Council is the foremost growth and networking organization for business owners in Greater Los Angeles. Do I qualify?
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7ad07e1e174e791b929dfd6f5a115423
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https://www.forbes.com/sites/forbeslacouncil/2019/09/13/what-are-the-benefits-of-in-housing-versus-outsourcing/
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What Are The Benefits Of In-Housing Versus Outsourcing?
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What Are The Benefits Of In-Housing Versus Outsourcing?
You’ve heard of outsourcing work to cut costs. But have you ever heard of in-housing before? It occurs when companies hire an internal team to replace the services that advertising or marketing agencies generally provide. While the intent of in-housing centers around saving money, there are other goals, such as increased control, cultural alignment and increased communication.
Data is at the center of in-housing. As digital advertising continues its growth, brands want increased ownership and measurement capabilities of their data. They want digital control. Customer interactions now occur across a variety of devices and touch points. Effective data collection allows companies to make sense of customer engagement, and it enables them to create effective content and campaigns.
The more oversight that teams have over their own functions, the better, right? Sometimes. Companies now face several struggles posed by technology and other innovations. And while some of the advantages of hiring an in-house team work for some companies, others benefit from sticking with old-school agencies.
The Pros And Cons Of Outsourcing
In the early days of advertising, large conglomerates ran the show and competed for the largest accounts. Big companies would hire big agencies to push big products. Think Don Draper and crew creating ads for Lucky Strike, Heinz and Hilton Hotels. Robust teams of media buyers, copywriters and creative directors would create ads, and consumers would buy products.
Now, digital media has paved the way for smaller companies to compete. As I postulated a few months ago, these little agencies may pave the way in a digitally dominated future. As new capabilities emerge, leaner, smarter agencies that bolster traditional capabilities with specialized expertise will win. However, these agencies are still centered on the same general formula: A company hires an agency of experts to market and sell its products.
It’s true that we’ve come a long way since the time depicted in Mad Men. But things have evolved to meet the times. Brands will turn to digital agencies and tech consultants in 2019, but that’s not to say that organizations don’t attract talent of their own. Let’s review some of the benefits of both sides.
Talent
Talent is tough to recruit. Many digitally focused employees have adapted their skill sets to fit an evolving landscape. They’re graphic designers, media buyers, copywriters or art directors by trade who have capitalized on a niche and augmented their creative skills with appealing digital ones. They have titles like UX designer, content strategist or paid media analyst. They’ve found a way to adapt around the digital world, and they’re making waves within a burgeoning, exciting industry.
But this isn’t to say that in-house teams can’t attract brilliant folks. In fact, many in-house teams have rosters of smart, more-than-capable team members. Enticed by the prospect of working with one brand or product (or a collection of brands or products), many agency folks have made the transition to in-house teams. I’ve seen it with my own eyes.
Ultimately, talent goes where the good jobs are, whether that means at an agency or in-house. It’s up to you to decide where you want to invest your dollars.
Specialization
The industry is changing rapidly. Keeping up requires specialization and a robust strategy, which sometimes requires a multifaceted team of experts to run. For some teams, this requires outside help. One major benefit of an agency is specialization. Many in-house teams simply are unable to allocate enough resources to excel at everything. And agencies have the capacity to encourage niche knowledge.
On the other hand, knowing and understanding a limited number of in-house products has its benefits. Many brands do one thing well. They may have a superior service or a killer product. And when you put together a group of smart minds to focus on one thing, the results can be astronomical. Focusing creative and analytical energy on marketing, collecting customer data and making important product improvements and innovations can drive results more effectively.
Quality Control
Hiring an agency generally means receiving quality results. As we’ve reiterated, you may have access to some of the world’s brightest minds. But there’s always a risk you run when relying on an outside team. Whereas an in-house team may have some comaraderie built behind your products, you may miss that with an agency team.
Outsourcing your work to an agency puts you at the mercy of the way it works. Perhaps you don’t see eye to eye with a creative director. Maybe the agency uses a model of thinking that differs from yours. Or even worse, it may miss deadlines.
In-housing, on the other hand, provides greater control over the trajectory of a project. Despite the inherent benefits of specialization, you may prefer more control over your organization’s outcomes. And depending on your circumstance, it’s important to weigh the benefits of hiring an agency or going in-house.
Forbes Los Angeles Business Council is the foremost growth and networking organization for business owners in Greater Los Angeles. Do I qualify?
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fe0c4a9c46134eee7cdb6119375b701c
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https://www.forbes.com/sites/forbeslacouncil/people/rongoldstein1/
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Ron GoldsteinForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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Ron GoldsteinForbes Councils Member |COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author.| Membership (fee-based)
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742f55afdbdc33325ce11c416a7d9551
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https://www.forbes.com/sites/forbesleadershipcollective/2018/04/09/seven-investment-strategies-to-build-real-wealth/
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Seven Investment Strategies To Build Real Wealth
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Seven Investment Strategies To Build Real Wealth
apartment complex Pexel
In the United States, the median household income sits around $57,617 a year — hardly a livable salary, let alone a wealth-inducing one. Experienced investors and members of The Oracles share their top investment secrets to help you multiply your money.
Insights from the pros who made millions. From left to right: Barbara Corcoran, Thomas Carter, Ken Lebovic, John Hanna, Mark Bloom, Peter Hernandez, Nik Halik The Oracles
1. Buy real estate in up-and-coming neighborhoods.
Turn a loan into a real estate fortune by investing in budding real estate markets. My secret for identifying up-and-coming areas is simple. I ask every young person who’s just moved to the city, “Where are you living?” Inevitably, they mention a neighborhood I’ve never heard of. I then ask if a lot of other young kids are moving into that area. If so, I know the property values in that area will rise as its residents’ earning power increases.
I took a $1,000 loan and turned it into a $6 billion real estate business by putting my money into, what were at the time, up-and-coming areas in New York like Park Slope, Red Hook, the South Bronx and Washington Heights. As these neighborhoods became more sought after, the property appreciated by 20 percent every year.
Once you own real estate and rents go up, it’s stupid to sell. Never sell your real estate; just use it as a piggy bank. —Barbara Corcoran, founder of The Corcoran Group and Shark on “Shark Tank”
2. Know your ‘why’ before investing.
Real wealth isn’t about money or stock portfolios. Real wealth comes when you discover the gifts God has given you and use them to help others. To achieve lifelong wealth, find your “why" and use it to share your gifts. Your "why" should be something that deeply motivates you and is connected to your overall life purpose.
If your "why" leads you to invest in or launch a business, planning is key, and working in your area of passion is critical. When researching, look at all the information that’s available to support your venture. Also, have a clear sense of your end goal and an exit strategy.
The need for entrepreneurs to fully understand their journey, from start to finish, has shaped the purpose of my business. We give you all the tools you need to take your business from inception to reality in a box, aka your “deal in a box.”
Ultimately, if you can’t measure it, you can’t manage it. Set success metrics that fit the projects you are working on. Also, empowering your people is paramount. If you are clear on your “why” and empower others, real wealth will follow. —Thomas Carter, founder and CEO of DealBox Inc; connect with Thomas on LinkedIn
3. Rent out residential real estate.
Invest in residential real estate that you can rent out. Surviving the tough times is just as important as riding out the good times. But everyone must live somewhere — regardless of the economy. Single-family homes, condos, townhomes and two-flats are especially easy to rent, sell and finance. They also maintain their value in the event of a downturn.
Overall, a one-off residential property can offer more flexibility than other types of real estate. If you lose a tenant in your strip mall, the value of the mall goes down. A residence can hold its value, rented or not.
When investing in residential properties, ensure that any purchase you make produces both acceptable cash flow and can appreciate over time. The smart investor never just relies on one or the other. —Ken Lebovic, president of North Shore Holdings; built a real estate empire acquiring thousands of properties in 20 years
4. Time the market.
To optimize your capital gains, timing is everything. Investors often use a metaphorical clock for this purpose, where 12 p.m. and 6 p.m. represent the peak and bottom of the market, respectively. Everyone is buying during a “boom” phase, and it's easier to get a better deal when everyone is selling at the bottom of the cycle.
Here's the challenge: No one has a crystal ball and unequivocally knows when the market is at precisely 6 p.m. So, the next best time to buy is 7 p.m. — when the market is slowly moving up. I’ve been examining market cycle trends for 25 years. Your trend is your friend: Once you discover a trend that works for you, use it. —John Hanna, author of "Way of the Wealthy" and CEO of Fairchild Group
The Oracles is an invitation-only brain trust of the world's leading entrepreneurs sharing their best success strategies. Interested in joining? Apply here.
5. Make your money on the buy.
With real estate, investors often believe that flipping a “fixer-upper” is where the money is. False. Your purchase price is the main factor that determines your profit later on. Simply put, you make your money when you buy, not when you sell.
To buy right, determine the potential value of a property by researching three comparable sales, or “comps.” Use comps with a similar size, value and location to more accurately assess value.
When buying a rehab property, first ask yourself two questions. One: What is a realistic sales or rental price for the property, after all the necessary repairs are complete? Two: What is the total scope of work needed to attain that value? Don't allow your personal preferences to cloud your judgment about repairs.
The devil is in the details, but so are the dollars. Start with your best price in mind, back out your repairs and costs, and don’t ever forget that you make your money on the buy. —Mark Bloom, President at NetWorth Realty, ranked by Glassdoor among the "Best Places to Work" for two consecutive years
6. Do your homework, then follow your gut.
Whether you're investing in stocks, companies or real estate, do your homework by using all the data and analytics you can find. Then, listen to your gut. Rely on the data and your instincts, not just your financial advisors.
The best deals I've made were informed by my intuition. The worst were when I ignored it. For example, years ago, my IT person suggested I invest in Netflix. Later, I asked two of the smartest people I knew if I should, and they both said, “No.”
My gut said to do it, and the data said to do it, but I didn’t. The stock, of course, shot up and became a huge success. Shortly thereafter, I was listening to a famous entrepreneur and investor speak. When asked, “If there was one stock someone should buy, what would it be?”, he replied, “Netflix.” The stock was pretty high at the time, but my gut still said, “Go.” This time, I wasn’t going to ignore my intuition. I called my advisor and said, “Buy.” She asked, “Are you sure?” and I said, “Yes.” Glad I listened to that entrepreneur and my gut. —Peter Hernandez, president of brokerage (California) at Douglas Elliman; founder of Teles Properties
7. Apply the Kaizen principle to your cash flow.
“Kaizen” is a Japanese word that means the process of continual improvement. Apply this principle to your cash flow by increasing your income by a minimum of three percent each month. For example, suppose you’re currently earning $3,000 per month. Incrementally raise your monthly base as follows:
Month 1: $3,000 × 3% = $90 Month 2: $3,090 × 3% = $92.70 Month 3: $3,182.70 × 3% = $95.48
After 24 months, you'll be making $5,920.77 (a 97% increase). Your previous month’s returns will drive next month’s earnings.
One way to increase your income is to build mobile apps for businesses. Mobile apps are to small businesses what a website was in 2000: They’re a game-changing sales tool.
Outsource the app-building to a team of freelancers, and focus your efforts on selling via social media promotion. You could charge business owners an upfront fee of $997 and apply a recurring $97 per month maintenance fee while delegating out all the tech work. —Nik Halik, angel investor, entrepreneur, astronaut, extreme adventurer, founder, and CEO of 5 Day Weekend®; follow Nik on Facebook
EDITOR'S NOTE: Investing of any type involves risk and therefore there is potential for losing money. Before investing, seek advice from a professional financial advisor.
Want to suggest a future topic for these entrepreneurs to answer? Email [email protected], and it’s very possible we’ll make your suggestion the focus of a future article!
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e21c02f80737c9619a04a5a3b9f0c5f8
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https://www.forbes.com/sites/forbesleadershipcollective/2018/10/18/eight-epic-failures-that-came-before-these-entrepreneurs-success/?fbclid=IwAR2dMHw0L16fIE6qRRX43ysDHSiFzZvkDuGZJ-AwqWpwIPqzNa-8_bRMeKY
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Eight Epic Failures That Came Before These Entrepreneurs' Success
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Eight Epic Failures That Came Before These Entrepreneurs' Success
Failure always comes before success. Smart entrepreneurs know that these failures are just learning experiences and that if you fail enough, you'll eventually succeed. These Advisors in
The Oracles
share how their biggest failures helped get them where they are today.
From L to R: Grant Cardone, Jeffrey Hayzlett, Ines Ruiz, Cameron Fous, Mark Bloom, Chance Welton, Thomas Le Maguer, Eileen Rivera The Oracles
1. Having A One-Year Marriage
I got married at 35 and was divorced by 36. We weren't on the same page and then one day realized that stood between us. We both quit the marriage before it ended — that’s when we failed. This happens often in business when you’re not on the same page as a partner or manager. Just like in marriage, if you don't confront the problem, you're guaranteed to fail.
Burying your head in the sand doesn’t change things. Start the discussion and confront the elephant in the room. I’ve been married to my second wife, Elena, for 14 years. We’re 100% on the same page because I learned to confront problems early! —Grant Cardone, sales expert who has built a $750-million real estate empire, and NYT-bestselling author; follow Grant on Facebook, Instagram or YouTube
2. Going Into A Nonexistent Market
I tried to corner the pheasant farm market before I realized there wasn’t one. I didn’t have the expertise and even lost 10,000 pheasants in a thunderstorm one night. I learned this: Never lead a business you can’t control — that was the takeaway.
No matter how big you think your failure is, there’ll always be another one. It might not cost you money, time or losing face. Don’t focus on the failure — strive for the next win as fast as possible.
When the press told Thomas Edison that he failed 10,000 times to invent the lightbulb, he responded that he’d “just found 10,000 ways that won’t work.” That’s the mindset you want. —Jeffrey Hayzlett, global business celebrity, speaker, best-selling author, and Chairman of C-Suite Network, home of the world's most powerful network of C-Suite leaders
3. Missing An Accent Mark
When I was 23, I was finishing my degrees in Translation. I needed an internship to graduate, and communicated with my employer for a year before it was time to start. At the last minute, they sent me a final piece of paperwork. The day after I returned it, they canceled my internship because I forgot to use one Spanish accent mark. They weren’t able to accept anyone who didn’t pay attention to detail. I was devastated.
That accent mark majorly changed my life. An internship as a Spanish teacher in the U.K. was the only option left. That led me to working at Cambridge University and ultimately immigrating to the U.S. Thanks to that failure I’m now the CEO of several businesses, including a Spanish-learning gamification app nominated as Startup of the Year. —Ines Ruiz, former Cambridge University professor with two masters degrees (e-learning and education); founder of Pocket Learning Spanish and Diary of an Entrepreneur
4. Failing A Six-Figure Startup
I lost $150,000 on a failed software startup in 2017. Being a day trader for 14 years, I knew the industry intricately and used multiple software tools to gain an edge. But some things were missing that I thought I could do better. So why not build my own software program? Turns out that’s very hard and a ton of work.
Over a year into the project, I had to make a decision: Keep going and spend more money, or accept failure. I asked myself: “Am I passionate about running this company?” I realized I just cared about the money so I pulled the plug.
If you aren’t passionate about your business, it will fail. Money should be the byproduct of your passion, not the other way around. Now I travel the world and interview iconic people for my company, IKNK.com, which I’m so passionate about. You can begin your path to greatness when you look for the lessons in failure. I actually have a tattoo that says, “Success is walking from failure to failure with no loss of enthusiasm.” —Cameron Fous, founder of FOUS4Trading, and host of #TheProfile for IKNK. Read about Fous: How a Tinder Date Inspired This Wolf of San Diego to Trade His Maserati for a Scooter. Follow on YouTube and Instagram
The Oracles is an invitation-only brain trust of the world's leading entrepreneurs sharing their best success strategies. Interested in joining? Apply here.
5. Driving My Entire Team Away
When I first became a manager, my passion often boiled over — to the point that I would explode with emotion. This didn’t earn points with my team. Finally, my entire team left in the night to compete against me. Blindsided and betrayed, I was left with an empty office and huge overhead. I was forced to start over.
Fast forward to this year. Our company culture is about delivering the best experience to our clients — and our agents. Glassdoor.com named us among the best companies to work for, and we’ll transact almost a billion dollars. There are two lessons: Don’t be a jerk, and as Rocky Balboa said, “It ain't about how hard you can hit. It’s about how hard you can get hit and keep moving forward.” —Mark Bloom, President at NetWorth Realty, ranked by Glassdoor among the "Best Places to Work" for two consecutive years
6. Being Complacent
I had one product that worked well and brought value to my clients. Rather than innovate, I bet on that never changing. Literally overnight, I lost half of my clients because of a Google algorithm change. I had no other way to generate leads for them. I also wasn’t pushing myself to be better in my personal life. I wasn’t working out or training harder. So in turn, I wasn’t working and training harder in my business.
I learned my lesson. Try new things and work harder in your personal life — always. Now I have an entire team dedicated to trying new software and innovating new strategies, so I’m never in that position again. —Chance Welton, founder and CEO of Beachwood Marketing LLC and The Millionaire Middleman Agency Coaching Program
7. Being $174 Away From Bankruptcy
We almost went bankrupt in 2016. I didn’t know how to make financial projections and mismanaged our cash flow. We were $179,000 in debt with only $174 in cash. This forced us to reinvent ourselves. We developed our LinkedIn lead generation system and the process we use now with automated video and executive roundtables.
We came back. The systems that saved us are the same ones we use to help clients succeed. After 18 months, we made the list of the 50 fastest-growing companies in Canada with over $1 million in revenue. —Thomas Le Maguer, married father of four, founder and CEO of eRational Marketing, and co-founder and CEO of Integrity.one; helped clients generate over $35m in revenue
8. Losing It All On A ‘Robust’ Investment
I spent three years reinvesting all company profits back into our growing business — which I thought was smart given the “robust housing market.” Then the market crashed in 2008. The personal financial loss was significant and I nearly closed the business. It took years to recover.
The greatest lesson was to create a recession-proof budget that provides opportunity for growth while maintaining fiscal standards that won’t be compromised. Without a clear plan, everything looks like an opportunity, when it’s often a distraction that can threaten your company’s financial health.
You must seize opportunities while simultaneously navigating risk. The road to success is paved with mistakes — and life’s greatest lessons. So embrace the inevitable, stay the course, try to enjoy the journey, and thrive on finding solutions. —Eileen Rivera, CEO of The Rivera Group; real estate coach, speaker, and licensed California realtor with over half a billion in sales
Want to share your insights like those above in a future column? If you’re an experienced entrepreneur, please get in touch here.
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https://www.forbes.com/sites/forbesleadershipcollective/2019/01/31/bethenny-frankel-ed-mylett-dave-asprey-and-others-share-the-one-decision-that-changed-their-lives/?sh=1aebc6062a38
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Bethenny Frankel, Ed Mylett, Dave Asprey And Others Share The One Decision That Changed Their Lives
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Bethenny Frankel, Ed Mylett, Dave Asprey And Others Share The One Decision That Changed Their Lives
These leading entrepreneurs and Advisors in The Oracles share the decisions that led them to fulfillment and success.
From L to R: Bethenny Frankel, Ed Mylett, Dave Asprey, Jean Case, Bedros Keuilian, Katrina Ruth, Sharran Srivatsaa, Grace Lever, Dottie Herman The Oracles
1. I listened to my gut.
After initially turning down “The Real Housewives,” I accepted the opportunity and became one of the first people to monetize reality TV. Another big decision was selling the intellectual property of my Skinnygirl liquor brand, which gave me “street cred” and financial stability.
I made those choices by stepping back, thinking things through and following my instinct. The experiences taught me to be a visionary and a leader. Rather than copy others, I created my own path. —Bethenny Frankel, founder of Skinnygirl, cast member of “The Real Housewives of New York City,” NYT best-selling author and Shark on “Shark Tank”; follow Bethenny on Twitter and Instagram
2. I chose to chase my dream.
I had a comfortable, successful career. But I knew I wouldn’t become the person I was born to be at that company. When I left to start my own, I went bankrupt and lost everything, but I learned that to do something great, you sometimes have to step back before you leap forward.
Today, I have an incredible life. The lesson is, it’s okay to lose something if you do it chasing your dreams. —Ed Mylett, best-selling author, co-founder of the Arete Syndicate, global keynote speaker and host of the #MAXOUT top-10 podcast; follow Ed on YouTube, Instagram and Facebook
3. I relentlessly searched for an answer.
Years ago, I was significantly overweight, depressed, and physically broken. I tried doctors, trainers, and diet programs. Nothing worked. But I became obsessed with finding an answer, which led me to a Nepalese mountain where a villager gave me yak’s butter to drink. It changed my life. Today, Bulletproof 360 is on a mission to help everyone unlock their high-performance selves. —Dave Asprey, entrepreneur, known as the “father of biohacking”; creator of Bulletproof 360 and NYT best-selling author of “Game Changers”; follow Dave on Facebook and Instagram
The Oracles is an invitation-only brain trust of the world's leading entrepreneurs sharing their best success strategies. Interested in joining? Apply here.
4. I was honest about failure.
In 2006, the Case Foundation launched PlayPumps with great fanfare, an ambitious initiative to bring clean drinking water to sub-Saharan countries. I soon realized we couldn’t assure the scale or quality of the program and faced a tough choice: Sweep the failure under the rug or come clean.
I chose to be transparent and encourage others to learn from our failure. We launched a series of “Fearless Forums” to bring the sector together to share stories of fearlessness, innovation and failure. That experience influenced my book, “Be Fearless.” —Jean Case, author of “Be Fearless,” CEO of the Case Foundation, chairman of the National Geographic Society and owner of Early Mountain Vineyards; follow Jean on Twitter
5. I gave up on perfection.
When I started building my business, I wanted everything to be perfect, which led to lost opportunities. Competitors gained on me because they were doing first and refining later. I decided to take imperfect action in all that I do. Now I act first and course correct as I go.
The moment you put your product out there, the marketplace will show you how imperfect it is. So just do it, get feedback and improve. —Bedros Keuilian, founder of Fit Body Boot Camp, author of “Man Up” and host of “Empire Podcast Show”; read how Bedros built his dream life; connect with Bedros on Instagram, Facebook and YouTube
6. I walked away from it all.
In my early 20s, I had everything I thought I wanted. But I felt trapped, and eventually, it all imploded. I walked away from my marriage, home and job. It was the scariest thing I’ve ever done.
It took losing everything to see what I truly wanted. I started acting based on who I really was and launched my first six-figure business. I had no idea what I was doing, but I did it. Today my seven-figure empire is completely aligned with my soul. I’m in love with my life, and I’m not afraid to tear down walls and rebuild. Follow your soul and be yourself sooner. —Katrina Ruth, founder and CEO of “The Katrina Ruth Show,” a multimillion-dollar online coaching business; connect with Katrina on Facebook and YouTube
7. I took charge of my morning.
I was a night owl who took pride in pulling all-nighters. But I was always tired and irritable when I woke up. It affected my energy, health and relationships.
A mentor suggested using mornings for projects. To hold myself accountable, I asked three friends to dial in to a conference line at 5 a.m. where I shared uplifting messages. They started to invite others, and today 3,000 people dial in to the 5 a.m. Club for inspiration. This one shift created a chain of positive results, from better health to increased productivity and stronger relationships. —Sharran Srivatsaa, angel investor and CEO of Kingston Lane, a push-button technology execution platform for real estate; grew Teles Properties 10X to $3.6 billion in five years; follow Sharran on Instagram
8. I kept going after I flopped.
I was brainstorming with my husband how to take my fledgling business to the next level. He asked what I loved most, and I told him I loved running classes and events. With no idea how I would do it, I committed to booking a marketing workshop series on the spot.
The first event was a flop. But it was a series, and I’d booked hotels and flights, so I kept practicing. Slowly, I got better. Within a year, I hosted 100 events and made over seven figures, all thanks to the decision to see my commitment through. —Grace Lever, founder of The Doers Way and author of “The Doer’s Guide to Coaching & Consulting”; connect with Grace on Facebook
9. I had a vision of greatness.
To truly succeed, you must believe anything is possible. That starts with a vision. When my partner and I purchased Douglas Elliman, I was ready to conquer the Manhattan real estate market. Money wasn’t my motivation: I wanted to be great, and I wanted to do something no one else had. Today, we are the largest residential brokerage in New York City. —Dottie Herman, CEO of Douglas Elliman, a real estate brokerage empire with more than $27 billion in annual sales
Want to share your insights in a future article? Join The Oracles, a mastermind group of the world’s leading entrepreneurs who share their success strategies to help others grow their businesses and build better lives. Apply here.
For more articles like this, follow The Oracles on Facebook, Twitter, LinkedIn and Instagram
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bc877957a5e2e5631826e0d3fc523405
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https://www.forbes.com/sites/forbesleadershipcollective/2019/03/05/eight-things-every-entrepreneur-should-know-about-outsourcing/
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Eight Things Every Entrepreneur Should Know About Outsourcing
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Eight Things Every Entrepreneur Should Know About Outsourcing
Outsourcing can save a lot of time and money, but hiring outside experts for the wrong tasks can also negatively impact your business. Here’s how eight business leaders and Advisors in
The Oracles
decide what to outsource and what to keep in-house.
Top row L to R: Alli Webb, Mike Peters, Scott Shainman, Thomas Carter. Bottom row L to R: Peter Von Der Ahe, Daniel Lesniak, Oleksandr Kosovan, Niyc Pidgeon The Oracles
1. Consider how your needs will evolve.
By outsourcing, entrepreneurs can operate in ways that used to be reserved for much larger companies. When we first opened Drybar, we outsourced all our accounting, bookkeeping, and payroll, which saved us time and money. As a result, we appeared (and were) more buttoned-up than we could’ve been on our own. When we became large enough, we took that work back in-house.
We used to outsource our towel services too. While we now handle that in-house, it was much more cost-effective and practical to outsource in the beginning. The point is, what makes sense for you now may change as you grow and evolve. —Alli Webb, founder of Drybar, co-founder of Squeeze, co-host of “Raising the Bar,” author of “The Drybar Guide to Good Hair for All” and guest Shark on “Shark Tank”; follow Alli on Instagram
2. Keep your team small and efficient.
Focus on what you do best and outsource the rest. Unless you are a big company, you don’t need a full-time accountant. Use sites like Upwork to find web developers, HelpGrid for customer support and MaxWeb to drive traffic to your website. By using outside experts, you save time, pay only for results and reduce the noise. Besides, it’s easier to replace a service provider than to train and manage people.
If I’m not sure whether to outsource a task, I ask myself three questions: Is this what we want to be known for? Can we do this better, faster or cheaper than an outside expert? Will outsourcing negatively impact our customer experience? If the answer is no to all three, we outsource so we can focus on what we do best. —Mike Peters, problem solver, entrepreneur and philanthropist; generated more than $1 billion in sales online; founder and CEO of the Yomali group of companies; XPRIZE Vision Circle board member
3. Don’t outsource your core skill set.
Never outsource whatever defines your company’s core skill set. That might be sales and marketing, manufacturing, finance, or tech support.
It’s tempting to see outsourcing as a way to streamline operations and reduce costs, but you cannot put a price on your core business. Keep it in-house, fine-tune it, master it and be the best at it. That will pay you back in more ways than any cost savings. —Scott Shainman, president of Getac North America, who helped lead the company to become one of the world’s largest rugged laptop and tablet manufacturers; connect with Scott on LinkedIn and Instagram
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4. Mitigate your risks.
Look at the risk associated with the task. Outsourcing things like compliance, cybersecurity, accounting and complex systems can mitigate your risk. While extremely important, these areas can detract from your ability to grow and optimize your core services. If you don’t view yourself as an expert in something, find a service provider that can give you confidence your critical systems are compliant and robust.
We manage our analyst work, document tracking software, CRM, data mining, design and development because they are our core services. We outsource tasks like opening investors’ retirement accounts because we aren’t familiar with the regulations and operational procedures. —Thomas Carter, founder and CEO of DealBox; read about Thomas: “This FinTech Veteran Is Making Cryptocurrency Startup Funding Legitimate”; connect with Thomas on LinkedIn and Instagram
5. Don’t outsource relationships.
Jeff Bezos is famous for asking what will be the same 10 years from now rather than asking what technology will change. It’s a great reframe, and I believe that being able to develop real, genuine relationships is more valuable than ever because of technology and outsourcing.
Besides payroll, printing and some tasks that can be done virtually, we don’t outsource much. Each team member works only in their specialty. We will never outsource marketing, messaging and sales because that’s where we create value. We are paid for our creativity and ability to develop relationships. —Peter Von Der Ahe, leader of the New York Multifamily team at Marcus & Millichap, with $1 billion annual sales, and host of “Behind the Bricks,” the No. 1 NYC multifamily investing podcast
6. Keep it in-house if it saves money.
My rule is simple: Keep it in-house if it is a core competency or you can save money doing it yourself. Otherwise, outsource it.
We outsource payroll, accounting, taxes, printing and legal tasks. We keep marketing and training in-house because they are the two biggest areas where we have a sustainable competitive advantage. Most real estate companies outsource photography and sign installation, but because of our volume we can save money and provide better service by doing it ourselves. —Daniel Lesniak, founder of Orange Line Living, broker at the Keri Shull Team and co-founder of real estate coaching business HyperFast Agent; author of “The HyperLocal, HyperFast Real Estate Agent”
7. Don’t reinvent the wheel.
Initially, we tried to build what we needed ourselves — including our own CMS, mailing service and app analytics. But as MacPaw grew, those tasks became a burden. I learned it’s important and economically feasible to outsource jobs that don’t represent the core of your business.
Identify what makes you outstanding and why your customers choose to buy from you. This is where your main focus and resources should be. Plenty of companies specialize in solving your other problems. —Oleksandr Kosovan, founder and CEO of Setapp and MacPaw, whose flagship app CleanMyMac has exceeded 5 million users; co-founder and partner at SMRK VC Fund; connect with Oleksandr on LinkedIn
8. Outsource if someone else does it better.
Effective scaling means leaning into what you are good at and enjoy — and what moves the needle forward. It also means handing off anything someone else can do faster and better. You can build a strong outsourced team with lower overheads than if you hired everyone yourself. You just need a savvy approach and effective systems, metrics, and reporting around hiring and managing talent.
Because we began as a location-independent team, outsourcing wasn’t optional. While I mastered many skills in the beginning, our growth required that we outsource almost everything quickly. We’ve adopted project management software and outsourced sales, design, web builds, ad campaigns and community management. We keep vision, strategy and creative writing in-house. —Niyc Pidgeon, positive psychologist, speaker, award-winning best-selling author, and business coach; connect with Niyc on Instagram and LinkedIn
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736876f895b020e4a03a028e309ea53d
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https://www.forbes.com/sites/forbesleadershipcollective/2019/04/11/retain-your-employees-and-make-them-more-productive-by-adopting-a-village-worldview/
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Retain Your Employees And Make Them More Productive By Adopting A Village Worldview
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Retain Your Employees And Make Them More Productive By Adopting A Village Worldview
How would your productivity change if you were caring for a parent with Alzheimer’s disease or going through a divorce? While you might be physically present at work, you’d probably be less effective.
Each year, we lose an estimated 57.5 days per employee to presenteeism, when they come to work while suffering illness, grief or stress, according to a Virgin Pulse report. In the United States, Australia and the United Kingdom combined, companies lose an estimated $1,500 billion a year as a result, making presenteeism 10 times more costly than absenteeism.
When our ancestors lived in villages, they faced challenges together. Today, we are less likely to know our neighbors or have a support community.
We need to get back to a village perspective and values, beginning with where we spend much of our lives: the workplace. This encourages companies to support employees through life challenges and create a culture of caring, which can reduce presenteeism and strengthen retention, focus and creativity.
Here is what employers should keep in mind.
1. Unseen issues can have a visible impact.
Presenteeism can stem from challenges ranging from caring for a loved one to facing unexpected expenses. Though seemingly unrelated to work, they drain employees’ energy, vitality and creativity, which impacts your bottom line.
Employees are our most important stakeholders. If they’re unhappy, customers notice. Yet the workplace intensifies these problems, with 80% of workers saying they feel stress on the job, according to the American Institute of Stress. We must support employees to counterbalance normal work-related stress.
2. Perks don’t create culture.
Culture is a huge driver of success. It’s especially important for attracting and retaining employees, a top concern among business leaders in the face of today’s disruption and talent shortage.
While innovative benefits like onsite cafeterias and modern office spaces can improve employees’ quality of life at work, they don’t define culture or address the issues behind presenteeism.
Impactful culture is more than fancy perks; it shifts organizational behavior and thinking. Ask yourself: Do your leaders care for their team? Are employees fulfilled, engaged and inspired? Do they support and challenge one another?
3. Purpose should be your North Star.
Motivating employees around a common purpose raises engagement, unifies teams and builds resilience, according to a Global Leadership Forecast. After all, corporations are fundamentally communities unified under a shared capitalist purpose. Those with a compelling purpose statement outperform others by over 40%. When employees feel they have an important and appreciated role in manifesting that purpose, satisfaction and motivation increase.
Purpose serves as a North Star when things get tough. Beyond organizational purpose, help employees identify their own purpose by training them on topics like self-awareness, creativity and personal growth. Community service projects also give employees purpose and fulfillment and strengthen intercompany relationships.
4. Walk your talk.
When leaders weave purpose into their decisions and behavior, company financial performance jumps by 42%, according to a Global Leadership Forecast report. Actions speak louder than words. Walk the factory floor and listen to employees. Incorporate personal check-ins into staff meetings.
It can be difficult to ask for help, which is why psychological safety is key in cultures that mimic the village mentality. Leadership must show vulnerability so employees have permission to do the same. Don’t penalize employees for sharing personal issues, and don’t force them to either. This creates trust and loyalty.
5. The sharing economy offers more than just products.
Peer-to-peer education is an emerging megatrend. With an inadequate support system, challenges are overwhelming. Our ancestors had regular access to wisdom from their elders and neighbors — and we can recreate that. The sharing economy that brought us products like Uber and Airbnb can also connect us to others with relevant knowledge and skills via platforms that share life wisdom and experience.
Recreate this village mentality with a mentoring or peer-support program, which can build a sense of empowerment, control and hope — and even decrease hospital admissions.
Develop community by hosting team-building and appreciation events. Celebrate those who embody the company’s values and reward cultural impact.
6. Technology can create connection.
Technology can help facilitate connections. For example, sites like MicroMentor connect you to business mentors, and there are numerous online therapy and talk therapy providers.
Sites like Perks at Work and Zestful offer employee discounts on everything from health to travel to educational purchases. Taking advantage of tools like these can improve culture and life efficiency.
7. Health insurance isn’t enough.
The best health assistance programs offer assessments, education and mental health coverage. Insurance often covers only diagnosable medical conditions; so supplement it with benefits like mindfulness training. Offer coaches to help with life transitions, fitness and nutrition, yet a coaching benefit can be pricey. Cognitive assessments and training can teach employees to notice when they or a co-worker need support.
To reduce stress, give employees autonomy over where and when they work. Some companies, like the Motley Fool, offer unlimited sick and vacation days. Others adhere to 40-hour work weeks to avoid burnout or allow dogs in the office to reduce stress. Consider expanding parental leave and offering childcare support as well.
Employers can learn more at human resources conferences, like the Perks Convention, which we sponsor, that showcase perks beyond basic benefits. Similarly, events like Culture Summit teach actionable tips to leaders to improve their employees’ work experiences.
8. Soft skills are the secret sauce.
Fewer than 40 percent of employees say their employer provides sufficient resources to help manage their stress, according to an American Psychological Association report. Offer training on soft skills like time and stress management, problem-solving, teamwork and communicating with empathy.
Soft skills training increases productivity, which is one of the reasons this is a priority for talent development teams today. Peer-to-peer education and guidance can help your team be more resilient.
9. Focus on financial support.
More than half of employees suffer from financial stress, and nearly half spend at least three hours a week considering or dealing with resulting issues at work. Provide financial education and advisors who can help them understand and use their benefits.
Half of Americans don’t have enough cash to cover a $400 expense. Consider offering a resource like PayActiv, which gives employees early access to paychecks they’ve earned. This reduces the cost of overdraft fees for any employees living paycheck to paycheck.
10. Notice the signs of life challenges.
To truly address presenteeism, connect with employees so you can spot changes in their behavior. Pay attention if someone seems fatigued, starts arriving late or leaving early, or becomes less engaged or productive. Wise leaders don’t just evaluate outputs; they listen and understand their team.
11. It’s an investment, not an expense.
Before taking action, survey your team to understand their challenges and what would be meaningful to them. Then continuously reassess how you can best support each other. After all, it takes a village.
The World Health Organization’s Health and Work Performance Questionnaire helps measure the returns on investments in employee well-being. Don’t look at employee well-being as a cost; consider it an investment in the health and productivity of your business. Dare to do more and lead with deeper wisdom, as we did in villages in the days of old.
Connect with Mark on LinkedIn or learn more about LifeGuides.
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cfa77b50402a2ca97b03c410fdf79aff
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https://www.forbes.com/sites/forbesleadershipforum/2011/09/15/to-be-a-great-leader-dont-be-a-genius-be-a-sponge-and-a-stone/
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To Be a Great Leader, Don't Be a Genius; Be a Sponge and a Stone
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To Be a Great Leader, Don't Be a Genius; Be a Sponge and a Stone
This article is by Dave Balter, the founder and chief executive of the Boston-based social marketing company BzzAgent, owned by dunnhumby ltd., where he is part of the global executive team. He is also a founder and the executive chair of the skill-testing platform Smarterer, and an investor or advisor to a dozen start-ups.
There’s a misconception that the most successful business leaders achieve greatness because they’re insanely smart—geniuses, even. You look at people like Mark Zuckerberg, Reed Hastings, and Warren Buffett, and it seems that might just be true. After all, they are more successful than their peers, and there’s no doubt they're extremely sharp. Yes, they are smarter than you.
But the truth is different. Most highly successful leaders really aren’t the smartest people in any room. Rather, they have something that sets them apart. That something is sponge and stone. I’d argue that for any entrepreneur or leader, sponge and stone is the critical differentiator that defines his or her likelihood of success. (And I’d take success over smarts any day.)
In the business world, a sponge is someone who is tirelessly driven to seek and absorb new information. In general terms, this means someone who is highly curious, possibly even somewhat obsessive, about gathering data and learning from it. I don't mean someone who simply stays up to date with TechCrunch and Mashable and loves to find articles to share via social media. Rather, a great sponge does three things:
1. Learns from mentors, advisors and peers. Sponges always surround themselves with people who can help them. They build and tap strong advisor networks. And for everyone they encounter, they ask questions, listen, and learn new things.
2. Studies heroes. A great sponge will typically have one or two individuals he or she considers heroes and will soak up everything possible about that person. Heroes don’t have to be business people. For instance, an early hero of mine was the Russian novelist Vladimir Nabokov. I found myself inspired more by his writing quirks than by his books or writing style. For instance, he was a serious lepidopterist, studying butterflies and moths (one he discovered is even named after him). I now value information obsession, which has helped me launch and build businesses. He also developed his novels using index cards, which he would arrange and rearrange. I find that writing speeches on cards helps me organize and reshuffle my points, if necessary. Nabokov compared the way he wrote to building a bird’s nest, and claimed that his notes made up a “kaleidoscopic arrangement of broken impressions.” I view my process of developing a company as establishing a set of elements that slowly form a bird’s nest.
3. Reads voraciously. Sponges tend to want to take in as much information as possible. I’m not talking about staying up to speed on 140-character Twitter blasts but rather consuming fully-developed content. And it doesn’t need to be about business. Sponges may devour fantasy or fiction. They may read instruction manuals front to back. It doesn’t matter. They feed on as much information as they can absorb.
But being a sponge is only part of what it takes to be a success in business. A business leader must also be a stone. There are two main characteristics of stone behavior: First, these determined individuals aren’t the smartest people in the room, but they work harder than everyone else. Secondly, stones have incredible strength of conviction. They are tough-minded and believe in whatever they are pursuing or doing, regardless of the challenges, hurdles, naysayers, and failures they encounter.
Stones do not have to barely scrape by and consider it a badge of honor to crash on a blow-up mattress in a start-up's office. That happens sometimes, but it’s unnecessary. Consider Sidney Frank, who at the ripe age of 77 founded Grey Goose vodka. Already wealthy from previous ventures, he spent countless hours crafting one of the world’s most recognized brands, and he sold it five years later for $2 billion. I can bet you he wasn’t crashing on a blow-up mattress, but he did work relentlessly to make Grey Goose a hit.
Whether a business student or a successful entrepreneur, a Stone, like a Sponge, does three things:
1. Displays fearlessness—and even shamelessness. Stones don’t just work 24/7; they work every angle. Consider Rajat Suri, the founder of E la Carte, which makes tabletop ordering systems for restaurants. He once recommended that I eat at a sushi place in Palo Alto, because of a rumor that Steve Jobs ate there. I went expecting little more than good sushi but, as luck would have it, Jobs walked in halfway through the meal. I thought that was cool, snapped a pic of him from afar, and left, eventually emailing Rajat to thank him for suggesting the spot. What did Rajat, tireless opportunist and stone, do? He dashed to the restaurant, secured a seat next to Jobs, and started toying around with an E la Carte device as the Apple chief looked over his shoulder. Then there is Jason Jacobs, of Fitnesskeeper. He is known to run entire marathons dressed up in a full-sized iPhone suit with his company’s RunKeeper application illustrated on the front. Yes, that’s going the extra mile.
2. Believes the impossible is possible. When my partners and I founded BzzAgent, my fourth startup, we were turned down by nearly 200 different investors. We were actually thrown out of agencies, and marketers wouldn’t try our word-of-mouth marketing product even for free. My family did an actual intervention, where they sat me down and tried to talk me out of pursuing the business. But we persevered, believing above all else that the concept of BzzAgent was possible. At last we persuaded some clients to come on board. Three years later we were profitable, on $3 million in revenue, and we raised our first round of outside capital. By 2004 BzzAgent was a real, growing company. But only because we believed, beyond all else. (Our tenacity paid off: BzzAgent was purchased by a unit of Tesco this year.)
3. Engages in multiple projects at once. This is perhaps the most polarizing behavior that a stone (and sponge) will typically exhibit. Sponges and stones, by their nature, have incredible curiosity and, often, ideas and energy to burn. For example, Elon Musk currently runs Tesla, but he also heads up SpaceX, a space exploration company. And Jack Dorsey is back at Twitter, but he still runs Square, a mobile payments start-up. One of the greatest errors an investor, advisor or mentor can make is to try to get a multitasking stone to focus on just one opportunity. Activity is likely part of that person's DNA, and he or she is just trying to feed an immense appetite for knowledge, create new connections, and take advantage of ideas efficiently. We need to allow more entrepreneurs and leaders to pursue all the challenges that inspire them. If they’re the right people, they’ll know how to manage their time. They already work harder than normal people and, more important, their various projects will only accelerate their absorption of data and information. In fact, if someone isn’t interested in multiple concepts, is it possible that's not a sponge and stone at all?
In all likelihood you’re probably not the next Sergey Brin or Jeff Bezos. But don’t despair. If you are starting a company, responsible for part of an organization, or making bets on entrepreneurs, you are most likely to succeed if you act as both a sponge and a stone—or if you align yourself with that kind of person.
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c07272065287fdd62391fbeeb327e6bf
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https://www.forbes.com/sites/forbesleadershipforum/2011/09/22/how-to-resolve-intractable-conflicts/
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How To Resolve Intractable Conflicts
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How To Resolve Intractable Conflicts
This article is by Peter T. Coleman, associate professor of psychology and education at Columbia University, director of the International Center for Cooperation and Conflict Resolution and author of The Five Percent: Finding Solutions to Seemingly Impossible Conflicts.
Hostile takeovers and union walk-outs. Legal battles and shareholder revolts. Demanding regulators, impossible environmentalists, petulant executives and disillusioned workers.
Leaders today must navigate a convoluted and treacherous landscape of conflicting interests.
I recently worked with an organization that had been trapped by an intractable conflict. It had started as a problem between two co-workers.That dispute between two people spread and created factions beyond their department, culminating in accusations of harassment and racial discrimination. The result: disciplinary actions and the termination of one of the employees, which triggered a lawsuit against the organization that lasted for years. These events drove the company to expand its in-house office for legal counsel and transformed the company culture from open and collegial to cautious, paranoid and litigious.
Scholars estimate that about 5% of conflicts are like this. They become highly destructive and resistant to multiple good-faith efforts at resolution. This is why my colleagues and I set out to write our book, The Five Percent: Finding Solutions to Seemingly Impossible Conflicts. We are a motley crew, an unlikely mix of social psychologists, an anthropologist, an astrophysicist, complexity scientists, conflict specialists, and peacemakers, brought together by a shared commitment to addressing the misery and mystery of impossible conflicts.
The insights in our book were born out of our own confusion, conflict, and nonlinearity. None of us could have accomplished this feat alone. Consequently, our ideas and methods often go against conventional wisdom in the field of conflict resolution, In fact, they tend to challenge it directly. This is part of our mad method: to create enough tension in our field to break through the current frames of understanding, in order to begin a new conversation where we must all think differently about the possibility of resolving impossible conflicts.
Here are a few guidelines from our book, which defy conventional wisdom on addressing difficult conflicts:
Envision complex networks of causation. Although these conflicts may start small, over time they gather new problems and grievances and disputants which combine in complicated ways to increase their intractability. It helps to understand this, even to map out the different parts of the conflict, in order to get a better sense of what’s operating. This is particularly important when the polarizing tide of Us vs. Them becomes strong at work and leads to the oversimplification of the sources of the conflict (Them!).
Circumvent the conflict. Research on difficult, enduring conflicts shows that direct intervention, such as attempts at negotiation or mediation of the problem, is not only ineffective but may in fact make matters worse. In these situations it may be best to avoid directly addressing the conflict for a while and instead work to increase positivity and decrease negativity between the disputants through channels that are completely unrelated to the presenting conflict.
Welcome weak power. Case studies of intractable conflicts where sustainable resolutions eventually emerged have taught us that forceful interventions by powerful authorities or third parties rarely help for long. Paradoxically, they have shown that it is often weaker third parties who often are most effective as catalysts for change. These people employ softer forms of power; they are trust-worthy, unthreatening, reliable, and they don’t have a strong agenda.
Support islands of agreement. Harvard Law Professor Gabriella Blum has found that during many protracted conflicts, the disputing parties often maintain areas in their relationship where they continue to communicate and cooperate, despite the severity of the conflict. In international affairs this can occur with some forms of trade, civilian exchanges or medical care. In organizations these islands may emerge around personal or professional crises (e.g., a sick child), outside interests (mutual work on common causes), or by way of chains of communications through trusted third parties.Bolstering such islands can mitigate tensions and help to contain the conflict.
Identify the invisible 5%. Because our perception is so strongly affected by tense conflicts (we tend to process negative information about the other side and ignore positive information), simply identifying the 5% of actions by the other side that are benign or even benevolent in intention can help to constrain the spread of negativity in conflict.
Capitalize on instability. Research has shown that enduring conflicts often become more amenable to resolution after some type of major shock has destabilized the system. When conflicts have dragged on for months or even years and have established a status quo of contentiousness, leaders should watch for moments of instability – ruptures in the day-to-day dynamics of the conflict-focused organization, which present opportunities for change. These can come from many sources, including scandals, economic crises, health crises, and other such jarring events. However, it is critical to realize that instability is only a necessary but insufficient condition for resolution.
Rethink time. Research has also shown that the changes brought on by destabilizing shocks to systems often don’t manifest right away. In fact with international conflicts, changes can take up to ten years after a major political shock before their effects take hold. (Note that the Arab Spring was triggered roughly ten years after 9/11 and the US occupation of Afghanistan and Iraq.) Thus, conflicts of this nature require us to re-examine our tendency to think in terms of immediate cause and effect, and to understand that changes in some complex systems operate in radically different time frames.
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aa71a8325fd897300954c2b21f0baa75
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https://www.forbes.com/sites/forbesleadershipforum/2011/11/18/what-steve-jobs-death-teaches-us-all-about-our-own-health-care/
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What Steve Jobs' Death Teaches Us All About Our Own Health Care
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What Steve Jobs' Death Teaches Us All About Our Own Health Care
This article is by Leslie Michelson, the chief executive officer of Michelson on Medicine and chairman and chief executive of Private Health Management. He is a former special assistant to the general counsel of the U.S. Department of Health and Human Services and former chief executive of the Prostate Cancer Foundation.
Image by Getty Images via @daylife
Steve Jobs lived ahead of his time. Tragically, that’s also how he died.
It’s impossible to know for certain, but his early death may have been avoidable. Jobs likely hastened it significantly by making medical choices with the same decision-making style that created the world’s most valuable company and its transformative products: He went against the grain and trusted no one’s instincts but his own.
I have been helping executives navigate the health care system for decades and commonly see this pattern in high achievers—accomplished CEOs, investors, entrepreneurs, physicians, professors, attorneys, research scientists. Unfortunately I often see the pattern do them harm. Jobs, eventually, saw that too, but it was too late. Walter Isaacson’s recently published biography reports that Jobs regretted disregarding medical guidance to have surgery immediately after diagnosis, choosing instead diet, meditation, and other interventions at a “natural healing clinic” he found online.
Jobs’ malignancy had been discovered serendipitously and early, which put him ahead of the curve in treatment options. It was also a rare, relatively treatable variety of pancreatic cancer. But anyone who seriously studies this particular disease knows that it’s one of the deadliest and demands swift, aggressive treatment. When, nine months after diagnosis, Jobs finally abandoned alternative treatment and agreed to surgery, his cancer had spread to the liver, dramatically reducing his survival chances.
His intuition-based decision-making process and consistent rejection of conventional thinking is why Jobs’ extraordinary life and career will be studied for decades. But sadly, perhaps a more universal lesson has nothing to do with Apple: Health care decisions are different from others. What matters when you find yourself seriously ill isn’t how smart, decisive, and accomplished you are in your chosen field. What matters is being smart enough to know that your judgment is compromised by emotions—and finding clarity through expert help.
That’s not as obvious as it sounds. Newly diagnosed patients start down a predictable and understandable path. Typically they develop an insatiable appetite for what might be called Google Medical School. They network with family, friends, support groups, and philanthropies. They consult with medical specialists and undergo batteries of diagnostic tests. This eventually leads to information overload and contradictory advice—not a good framework for making decisions. Unfortunately, most patients respond to this unbearable uncertainty by grouping along one of four paths, none of them optimal.
The first group religiously follows the advice of a single physician selected on the basis of stature or charisma, shutting out other guidance. The second is countercultural, rejecting conventional medicine at a visceral level and embracing a wide array of alternative interventions, often unproven or untested. The third suffers from paralysis of analysis, in a futile search for certainty. And the fourth manages medical decisions like business decisions, trying to generate consensus but among experts unaccustomed to defending their recommendations and uncomfortable challenging others’.
There is a better way. In my experience supporting hundreds of patients through life-threatening health issues, I've found that it’s important for patients to acknowledge first that serious illness produces overwhelming stress that alters their ability to reason. And second, that the medical world operates differently from other professions. “When you’re a hammer, everything looks like a nail” holds true for medical specialists, who tend to advocate for their specialties.
First, get an accurate and complete diagnosis. This sounds elementary, but bear in mind that interpreting biopsies and imaging studies can be subjective. Experts make errors. Advanced tests like molecular diagnostics that lead to personalized treatment for certain cancers are commonplace in major academic centers, but not necessarily in community practices. Ask for them.
Then find specialists with experience in your precise condition. As biomedical knowledge expands, physicians focus more narrowly on mastering a small number of conditions and treatments. It makes sense to find those who deeply understand your case.
After getting an accurate, complete diagnosis and identifying the best specialists, the third, unconventional step patients should strongly consider is a daunting but differentiating one: orchestrating coordinated care among multiple physicians, specialists, and related support, such as nutritionists and psychologists. This orchestration is a specialty niche I happen to occupy, but not all patients have access to such advocacy services. Here’s what they can do on their own.
Like finding a godparent or guardian for your child, the key is forethought.
—Prepare to communicate. A lot. Gather all medical history pertinent to your case and organize it chronologically in a master file that’s easily updated and distributed. Include a list of your medications, results of tests, and names and contact information of all doctors, facilities, and family members involved. Keep an updated written narrative from your perspective of your medical journey thus far. This helps specialists operate at the top of their game and ensures that everyone has the same precise information. Too much work? Consider the stakes.
—Assemble a team. Realize that you’re recruiting a medical orchestra that you, or someone you trust, will direct. When consulting with a new physician, explain this concept of an integrated team. Get a commitment to be a team player. Some doctors are unwilling, because our compliance-oriented and privacy-bound medical culture carries enormous implications in the event of a legal misstep. Some are simply uncomfortable with the concept. If they back off, that’s a red flag.
—Assign a care coordinator. Orchestrating multiple treatment efforts requires a particular personality type and skill. Overbearing, didactic—or indecisive—traits lead down the four unproductive paths described earlier. The coordinator must be neutral, not an advocate of any particular approach or aligned with any hospital, physician group, or health plan (which typically won’t pay for this service) in any way that would limit their ability to engage with anyone on your behalf. The coordinator needs to be sensitive to the fact that all advice carries bias. She or he also needs to consult the medical literature to ensure that your treatment is informed by the latest research findings. Generally, sympathetic general practitioners or accomplished nurse practitioners are good choices, provided they accept the scope of the assignment. A family member can sometimes be a good alternative.
—Stay the course. Medicine is still practiced largely by physicians working independently, coordinating with others by consultation correspondence and reviewing charts. Your care needs to follow a new model, and your caretakers need to be reminded that they’re part of a single, integrated, coordinated team. They may occasionally need to be herded. To encourage this, see step one.
This highly structured framework offers many benefits. It ensures that all relevant information is collected and the most capable physicians are engaged in a well-informed decision-making environment. As biomedical research induces more specialization, and as reimbursement becomes more of an issue, the need for this coordinated approach will only increase.
We can learn a great deal from Steve Jobs’ life, but there may be more to learn from his death. Business schools will parse the former. My hope is that medical schools—and clinicians, policymakers, and patients—will spend at least as much time learning from the latter.
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69c2a30a17c34a83edb52a0fbdaf4780
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https://www.forbes.com/sites/forbesleadershipforum/2012/02/07/stop-being-deceived-by-interviews-when-youre-hiring/
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Stop Being Deceived by Interviews When You're Hiring
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Stop Being Deceived by Interviews When You're Hiring
This article is by Don Moore, an associate professor at the Haas School of Business at the University of California, Berkeley.
The monthly job report from the Bureau of Labor Statistics has become an uneasy gauge for the American economy. A lot of people scramble for what positions there are, but we rarely reflect on how those people get picked, and whether that matching process could be made more efficient. I have long been fascinated by the ways organizations select people. Hundreds of studies reveal the profound limitations of the traditional interview. Interviews favor candidates who are attractive, sociable, articulate, and tall. They also favor manipulative candidates, or ones who know how to make a positive impression even in a brief interview. But those aren’t always the best job performers.
We all know of instances in which a poised, charming job candidate turned out to be a disaster on the job. It can be difficult for an interviewer to see past attractiveness and flattery to predict how a person will actually perform once hired. The challenge of picking the best person is especially hard in the current difficult job market, when advertised openings often receive hundreds or thousands of applications. Conducting so many interviews is time consuming. But the bigger problem is that traditional job interviews are simply not very good at selecting the best candidates.
I invited each of the MBA students in my leadership class to interview two other students from class and predict which of the two would score better on the midterm exam. Had they flipped a coin they would have picked the better performer 50% of the time. In fact, they predicted correctly 56% of the time. This result is consistent with the research literature on interview effectiveness: The unstructured face-to-face job interview is a poor predictor of subsequent performance.
Nevertheless, managers are consistently overconfident in their ability to identify the best candidates using a job interview. We cling to the fanciful notion that we can perfectly predict future job performance, despite overwhelming evidence against it. We all want to believe that we are good judges of character, yet we do not bother to collect the evidence we would need to test that belief. Rather, we rely on gut intuitions about whom to hire.
It would be better for companies, candidates, and the American economy if instead we hired those with the identifiable skills to be successful. To do that, organizations would have to figure out what really contributes to employee success and how to assess it. Fortunately, research has identified a shortcut. One skill that contributes to performance at most jobs is mental ability. Undoubtedly, intelligence is just one of many qualities that facilitate job performance, and firms can improve their ability to predict performance by also considering other job-relevant abilities. But if you have to pick one, general mental ability is the beneficial trait most consistently identified in numerous studies conducted over many decades of research. A test of general mental ability can be as simple as an online IQ test that can be completed in under an hour. Although high intelligence is not essential for every job, the evidence shows that it usually helps. Moreover, intelligence tests are cheaper to administer, simpler, fairer, and less vulnerable to bias than the traditional job interview.
A simple intelligence test, combined with a structured interview, will provide the essential data for a vastly improved hiring process. Organizations should structure the interview by putting each candidate through the same sequence of questions asked by the same set of interviewers. Then interviewers should assess each candidate’s response to each question with some sort of quantified rating. These ratings should then be averaged for the interview and for the job candidate.
Using structured interviews and intelligence tests to select candidates reduces hiring managers’ reliance on hiring according to their gut instincts. That might be a problem if it means they will neglect a new hire’s fit with the organization's culture, norms, and values . But the truth is that the interview is often a lousy way to assess fit. If fit is important, the best approach is to determine exactly how fit matters and explicitly assess that using a structured test or structured interview questions.
Hiring decisions are among the most important any organization makes. That’s why organizations large and small owe it to themselves and their stakeholders to base this important decision on a consistent process. The American economy has seen amazing innovations and productivity growth over the last 50 years, but there has been just about no innovation in hiring methods. The current economy provides American employers with a tremendous opportunity. The larger the applicant pool, the bigger the payoff from better hiring practices. Now is the perfect time to do some fundamental rethinking of how organizations select people.
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2cc28d4b3d648c4a7fd4bea7a7e22e0e
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https://www.forbes.com/sites/forbesleadershipforum/2012/03/02/to-offer-great-customer-service-dare-to-be-bad/?sh=18d66b2049ac
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To Offer Great Customer Service, Dare to Be Bad
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To Offer Great Customer Service, Dare to Be Bad
This article is by Frances Frei and Anne Morriss, the authors of Uncommon Service: How to Win by Putting Customers at the Core of Your Business, published by Harvard Business Review Press.
There's a good reason this store isn't loaded with employees assisting customers.
Service excellence can be a slippery concept. We know it when we see it, and when we see it, we’re usually better off. But what exactly is great service?
In our work with service companies, we use a very specific definition: Excellence is being great at the things your customers value most. If you’re great at something that few of your customers care much about—see Saturday delivery from the U.S. Post Office—it doesn’t count. In fact, it’s counterproductive.
Because here’s the problem: Your capital and energy are limited resources, so to afford to excel at the things that matter most, you have to under-invest somewhere else. Our advice is simply to underperform rationally, in the areas your customers value least.
Take WalMart. WalMart customers want the lowest possible prices on the things they use every day. And WalMart delivers, with reliably rock-bottom pricing and fantastic product variety. To afford it, the company under-delivers on other parts of the retail experience, such as sales support and ambience. You won’t find an army of helpful employees at your average WalMart, and its decor isn’t likely to give you ideas for your home renovation. Yet WalMart customers are delighted to make these tradeoffs.
This is the pattern among service leaders in every industry we’ve studied. It turns out that winning service companies aren’t great at everything. They’re bad at some things, but the pattern isn’t haphazard. It’s mapped tightly to their customers' priorities.
How do you pull this off in your own business? The key is to choose your weaknesses carefully. Your goal is strategically bad service, bad service your customers will tolerate, even wear as a badge of honor, as long as they get what they want most in return. Many IKEA customers are proud of the fact that they have to assemble their own stylish, affordable furniture.
Here are the essential questions to ask yourself:
What do my customers value most? Imagine you have a few of your best customers in front of you. What do they care about? Which parts of the service experience are important to them (low prices, quick response time, etc.)? Now list those service attributes in order of importance, from their perspective. To be sure you’re right, test the list with real, live customers. We guarantee you that some part of that conversation will surprise you, and the interaction itself will build trust. A market research firm can also help you.
How do I compare to my competitors? Performance is a relative concept. Once you’re confident about what your customers want, put your current service offering in the context of your industry. See how you stack up compared with the other key players, particularly on high-value dimensions. Does someone else own excellence? Is there little difference between your service model and everyone else’s? This type of mapping will lay out the options for any potential strategic shifts.
What will it take to excel? Or, put differently, what would your customers be willing to give up for the things they really want? For example, some health care companies are betting that patients will trade access to a high-status physician for immediate care from someone with fewer degrees (see CVS’s Minute Clinics). What tradeoffs would your own customers make? Would they give up cutting-edge technology to get a service rep on site faster? Table that R&D initiative, and add slack to your service teams.
How else could I fund excellence? Tradeoffs in the service experience are one way to create the resources for greatness, but you’ll likely need other strategies as well. Charging extra is the simplest approach, but it’s not easy to pull off in a tough economy. Consider others: running the back office more efficiently or reducing costs in ways that also improve service. Progressive Insurance has saved a bundle of money on fraud by sending high-service vans to the scene of an accident, both to dust off customers and to make sure that the accident actually happened. The customers they want, the ones who aren’t trying to defraud them, love the experience. The vans more than pay for themselves.
These are the essential questions to ask in the design of any service model. There are others, but we recommend starting here. If you can figure out how to design and fund a great service offering, the rest will seem easy.
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834bf683412a5b929d54ec051286438d
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https://www.forbes.com/sites/forbesleadershipforum/2012/09/14/four-negotiating-lessons-from-richard-geres-arbitrage/
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Four Negotiating Lessons From Richard Gere's 'Arbitrage'
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Four Negotiating Lessons From Richard Gere's 'Arbitrage'
This article is by Jim Camp, founder and chief executive of the Camp Negotiation Institute and author of Start With No: The Negotiating Tools That the Pros Don't Want You to Know.
Richard Gere (Photo credit: Wikipedia)
In the new movie Arbitrage, the self-made millionaire businessman Robert Miller, played by Richard Gere, has a buyer for his company, but that buyer, Mayfield, has a cagey way of not showing up to sign on the dotted line. It's a running joke in the serious high-finance film.
No matter what you’re negotiating—a promotion, a better price from a key supplier, funding terms—chances are you’ve been caught in a similar vise: You turn up for the meeting and the opposing side doesn’t, or the person calls to cancel.
In Arbitrage, Gere’s Miller makes some glaring mistakes in dealing with his adversary. You might recognize goofs similar to ones you’ve made. Here are four things to keep in mind when no-shows try to get the better of you.
1. Don’t be needy. Miller has a reason for doing the deal as fast as possible. He has engaged in creative accounting, and though he has managed to survive a formal audit, his company is worth $400 million less than he says it is.
When he and his team show up to sign the paperwork, they’re told that Mayfield has been “delayed.” After two hours have passed, and Miller has pushed an important personal appointment aside because the deal is all that matters, his team is told that Mayfield isn't coming at all.
When you’re in a hurry, you lose focus and control. Miller’s desperation, frustration, and anger are palpable. To top it off, he’s emotionally trapped because he has committed fraud. I tell all my clients, “You want this deal, but you don’t need it.” Even if the deal means the world to you, act as though it doesn’t.
It would have been far better if Miller had left the meeting with his team as soon as he learned about the delay. That way the adversary might have conjectured that Miller had another buyer at the ready. Instead, Miller was blindsided, provoking an outburst. Blowing a fuse over a no-show is basically the same as writing “I’m needy” on your forehead with a permanent marker. Accept the other side’s call, nod your understanding, and leave.
2. Be prepared for the adversary’s no-shows. I had a client whose negotiating team flew from the U.S. to Europe at the adversary’s request to discuss terms at the adversary’s headquarters. After being wined and dined, the team learned that the other side’s president wouldn't be running the meeting. However, the group could take the meeting with the adversary’s vice president.
My client didn’t make a fuss, but the team chose not to meet with the replacement negotiator. They simply flew back home and later invited the other side to meet in the U.S. The adversaries showed up.
3. Realize that adversarial no-shows are often a ploy. When the adversary replaces the agreed on negotiator, it can be a tactic to get the other side to reveal its hand. Although the replacement negotiator is often described as having the power to make the deal, that may not be true. If the fill-in person turns out not to have that power, then the adversary has gained all your information and additional time to analyze it and potentially use it against you.
4. Expect an apology for a no-show or cancellation. Emergencies do happen, and a sincere adversary will call to apologize without a prompt from you. If he doesn't, have the gumption to call him on his behavior. You need to be strong enough to say, “Tell me no if you truly don’t want to do this deal.” Don’t let yourself be pushed around by the opposing side.
Arbitrage is a master class in how not to negotiate when adversaries don’t show up. Watching a character unable to keep his emotions in check is a good lesson for any negotiator. And these days, that’s just about everyone.
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97ca4eee15ce81cb687e37154456e3be
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https://www.forbes.com/sites/forbesleadershipforum/2013/01/25/30-years-ago-a-deeply-conflicted-steve-jobs-introduced-the-apple-lisa-soon-he-had-to-reinvent-himself-heres-how-he-did-it/
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30 Years Ago a Deeply Conflicted Steve Jobs Introduced the Apple Lisa. Soon He Had to Reinvent Himself. Here's How He Did It
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30 Years Ago a Deeply Conflicted Steve Jobs Introduced the Apple Lisa. Soon He Had to Reinvent Himself. Here's How He Did It
This article is by Steven Snyder, the founder of Snyder Leadership Group, author of the forthcoming Leadership and the Art of Struggle, and an early leader at Microsoft, where he worked closely with Bill Gates.
Thirty years ago, on January 26, 1983, I had the privilege to personally witness a first public demonstration of the Lisa, Apple’s first computer with a graphical user interface, at the Boston Computer Society. Steve Jobs had introduced the machine to journalists in New York City the week before, and his performances had been mesmerizing and visionary.
[The above has been corrected to indicate that Steve Jobs did not give the Boston demonstration.]
But behind the bold bravado was a man who was struggling on multiple levels. His egotistical and destructive behavior had gotten him removed from the Lisa development team several years earlier. Even as he publicly extolled the computer's virtues, within Apple he was doing everything he could to undermine its success in favor of the Macintosh, paralleling a sad irony in his personal life. The Lisa was named after the out-of-wedlock daughter Jobs had abandoned, just as Jobs had felt abandoned by his own birth parents, who had given him up for adoption as an infant.
The Lisa would become a symbol of Jobs’ conflicted and self-defeating inner psyche. With his passion to destroy the Lisa and promote the Macintosh, Jobs unconsciously advanced his own destruction. The final blow came two years later when, overconfident and self-centered, he lost a power struggle with Apple's affable chief executive, John Sculley, and was forced out of the company.
Jobs later mounted a remarkable comeback that would catapult Apple into one of the world’s most valuable and admired companies. At the core of his later success was the reinvention of his own leadership. He would cease being his own worst enemy and began to channel his energies more adaptively.
Jobs told his biographer Walter Isaacson that he wanted to “build an enduring company where people were motivated to make great products”—an aspiration larger than any single person, including Jobs himself. By advancing a culture where others were inspired to fully engage in the building effort, Jobs made a crucial transformation; what True North author Bill George calls moving "from I to we.” Jobs developed close partnerships with the likes of retailing guru Ron Johnson, designer Jony Ive, and operational efficiency expert Tim Cook. Through these collaborative efforts, he transcended his powerful self-centeredness to foster a rich, vibrant, and creative climate that fully tapped the potential of all.
The bridge from I to we is an important structure of leadership. Here’s how you can span it yourself:
1. Make your vision inclusive and long term. Write down your vision. Is it a long-term vision that’s inclusive and larger than you? Or is it self-serving, divisive, and short-term in nature? The power of Jobs’ enduring company vision lay in its explicitly recognizing that building great products is the long-term job of an entire community, not the short-term work of any one individual.
2. Examine your actions. Are they consistent with your vision? Consciously make the decision to stop any behaviors that are inconsistent with your vision, to make room for habits that are more in alignment. Be especially aware of platitudes like “we value your feedback.” These will strike others as vain and self-serving if you ignore their input. Incorporating the feedback of others can be one of the most powerful ways to signal a new inclusive outlook.
3. Invert the pyramid. Stop thinking, for a moment, about your expectations of others who work for you. Instead, consider their expectations of you. What help or assistance do they need to do their jobs? What roadblocks or obstacles can you remove? A new range of leadership possibilities emerges when you stop fixating on how others can serve you and consider how instead you can serve others.
4. Institutionalize we-oriented thinking. Once you’ve taken steps 1 through 3, you are ready to institutionalize these values by examining incentive systems and cultural norms. The best way to cultivate we-oriented leaders is by creating reward systems that discourage self-centered behaviors and promote actions taken in the interest of all. But be sure you’ve reinvented yourself first (stesps one to three), or your efforts will be seen as hypocritical and counterproductive.
Gallery: The Zen of Steve Jobs 3 images View gallery
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04058745705684249515991fc95719b0
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https://www.forbes.com/sites/forbesleadershipforum/2013/04/02/a-challenge-to-america-develop-fusion-power-within-a-decade/
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A Challenge to America: Develop Fusion Power Within a Decade
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A Challenge to America: Develop Fusion Power Within a Decade
This article is by Norman R. Augustine and Gary Hart. Norman Augustine is a board member of the American Security Project, a nonpartisan public policy and research organization, and has been chairman of the Council of the National Academy of Engineering. Gary Hart is a former senator from Colorado and is chairman of the American Security Project.
Deuterium-tritium fusion diagram. (Photo credit: Wikipedia)
America’s economy and security depend upon reliable sources of power. Over the next few decades, almost all of the power plants in the U.S. will need to be replaced, and America’s dependence on fossil fuels presents serious national security concerns. They sap our economy, exacerbate climate change, and constrict our foreign policy. Our newfound boom in natural gas and oil production will ease but not eliminate these underlying issues.
The only way that we can resolve these challenges, including reducing greenhouse gas emissions in a timeframe that avoids the worst consequences of climate change, is to develop next-generation sources of clean base load power. In short, America needs to produce energy that is clean, safe, secure and abundant, and to do it now.
Energy from fusion has huge potential. Fusion produces no greenhouse gases, and, unlike nuclear fission, it does not produce long-lived radioactive waste. Further, there is no chance of a runaway reaction that could lead to a Fukushima-type meltdown event. Fusion energy is also virtually unlimited. It is produced by fusing together two hydrogen atoms. It will revolutionize the energy system when commercialized.
But there is a major problem: America has not accepted the challenge.
Researchers in fusion energy have made significant advances, but progress has stalled because of budget cuts and annual funding fluctuations. Given the current support for fusion research and development, commercializing fusion power remains many decades away. This cannot and need not be the case.
The American Security Project, a nonpartisan national security think tank, of which we are board members, has released a new report, “Fusion Power, a 10-Year Plan for Energy Security” that details how America can accelerate fusion development. This generation’s Apollo program should be new R&D in fusion energy. We need a national commitment to develop fusion power. This would mean committing $30 billion over the next ten years – with the goal of achieving demonstration levels of fusion power. This will set the stage for full-scale commercial power that can drive American prosperity for centuries to come.
We can begin today. If we are serious about fusion development, the president should appoint a fusion power commissioner with the authority to organize and streamline the research, development, and deployment of fusion power, especially by directing new areas of research and development within our national laboratories. We know that any government program is plagued with overlapping entities and different budget authorities. A fusion power commissioner could cut through the red tape and avoid bureaucratic delays.
With new authorization from Congress, America’s scientists could begin today to build the next generation of facilities to develop and prove the feasibility of fusion power. Our scientists are ready today to begin constructing new fusion facilities that could lead the world and drive innovation. In short order, they could begin construction of new machines that would show how to build and operate a real power plant operated by fusion. We know that our economic competitors in China and Russia have begun work on such facilities. We can beat them, but only if we can get to the starting line.
Why is action on fusion from Congress and the president important? What would fusion really give us? The truth is that fully commercializing fusion energy would bring us monumental benefits.
First, developing fusion energy will provide a clean source of power that can fully break America’s dependence on fossil fuels. This will provide numerous security benefits. Second, pioneering a new high-tech industry will bring vast new streams of revenue to America’s leading industrial companies, creating thousands of new jobs and strengthening our overall economy. Third, developing fusion energy will lead to countless spinoff innovations in robotics, supercomputing, and superconducting materials. Fourth, pursuing fusion will be a clarion call to bright young American minds to enter the critical fields of science, technology, engineering and mathematics. Finally, achieving practical fusion power will cement American leadership in solving some of the world’s critical problems, and drive American competitiveness in the coming decades.
Other countries already have ambitious plans to develop fusion. The U.S. will be left behind if Congress and the president fail to make the smart investments we know are necessary.
We cannot afford not to make the needed investments.
Gallery: Sub Antarctic Adventure Of The Decade: Russian Icebreaker Expedition 4 images View gallery
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dde7db7b4fe51a5cd82ce519288b758a
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https://www.forbes.com/sites/forbesleadershipforum/2013/06/13/the-crucial-edge-that-makes-a-board-exceptional/?ss=leadership-top
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The Crucial Edge That Makes A Board Exceptional
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The Crucial Edge That Makes A Board Exceptional
This article is by Punit Renjen, the chairman of the board of Deloitte LLP.
Which of the following is the mark of a great board room, (a) an eyebrow raised, and then a hand, quickly followed by a challenging question, or (b) nodding heads and then smiles all around, quickly followed by the next item on the agenda?
In exceptional boardrooms, the intellectual rigor generated by a challenging question is both an accepted norm and a precursor to reaching informed decisions. This is the crucial edge that sets apart boards that lead from boards that follow. Exceptional boards embrace creative tension fully and ensure its presence continually in engaging the management teams they govern.
Creative tension is known by various names. Constructive discontent, respectful challenge, and “What if?” are just a few that describe its inquisitive and often skeptical nature. However, this key differentiator of exceptional boards is hardly meant to thwart management. Creative tension is constructive. Its purpose is to bring out the very best in management so that senior executives can generate the greatest value for shareholders, stakeholders, and society at large.
Exceptional boards put creative tension into play many different ways:
As brand guardians, for example, boards can initiate the debate on how short-term solutions could potentially impact their brands long-term. As risk and scenario planners, chairmen and directors can pose hypothetical situations that in today’s fast-paced business environment can quickly become all too real. As succession stewards, boards can identify current leadership strengths that should be continued and new leadership attributes that should be sought. As bold strategists, boards can imagine the organization’s vision on fast forward—and brainstorm with management about which actions will keep the trajectory of the organization straight and true beyond the horizon.
Creative tension drives the journey. A director can begin that journey by asking a question that may defy convention or political correctness. I like inconvenient questions. They often lead to others and enable boards to use oversight and stewardship as catalysts for management’s actions.
The Power of Never, No, and Not Yet
I grew up in India. From my childhood, I remember the great reverence that people held for our national hero, Mahatma Gandhi. He galvanized millions to march as one, disarmed the empire that had ruled his country for nearly a century, and enabled India to become a free and independent nation.
As a board chairman years later, perhaps what I admire most about Gandhi is how this bespectacled, humble man of slight stature applied the enormous power of creative tension. Gandhi held no formal position of authority. Nor was there an organized army standing behind him. What he did have were his core beliefs and the audacity to speak truth to power. Gandhi knew that to remain silent would leave authority unchallenged and unchecked. He defied those who sought to silence him, by saying “never” and “no” countless times in a soft, calm voice—and with an iron will. He had to. His relationship with those who occupied his country was adversarial.
Boards and management, however, have a decided advantage. They are on the same team in helping the enterprise excel. Boards foster creative tension through their responsibility to review and approve—or consider, table, or deny. When a board says “not yet” to a management proposal, the creative tension that results is intended not to undermine but to inspire. And if “not yet” or even an outright “no” escalates boardroom dialogue into full-throated debate, that’s okay. Passion is good. Opposing views can collide, but they also can converge and yield exciting new ideas, especially when an organization’s core beliefs unite everyone involved.
How does management respond to creative tension? It depends on the executive. Exceptional leaders embrace it, whether they’re in a conference room or the boardroom. Speaking of his C-suite experiences, former Medtronic chairman and chief executive Bill George said, “Reward people who challenge you. I didn’t promote people who didn’t take me on.” Now a professor at Harvard Business School, he also supported that same attitude vigorously in Medtronic’s boardroom. According to Mr. George, there were times when a single, compelling voice of dissent caused the board to reconsider and eventually pull back from a major decision. Otherwise, he recalls, those decisions would have probably been unanimous—and most likely disastrous.
Good for the Gander
Management shouldn’t be the only recipient of creative tension. Board members can enrich their own discussions by challenging one another, including their chairman, and not just during executive sessions. Such openness in front of management can actually deepen trust. It helps convey the message that creative tension is designed to elevate the entire team, not pull management down.
History tells us that fomenting dissent can lead to a more perfect union. That was the message shared by the biographer and historian Doris Kearns Goodwin, who chronicled how one of the greatest CEOs this country has ever seen stacked his boardroom. Instead of creating his own personal cheering section, Abraham Lincoln purposefully brought together a cabinet that included many former opponents who had run against him for the presidency, and who had railed against his viewpoints along the way. The advisers Lincoln assembled agreed with his ultimate goals of abolishing slavery and preserving the union. Yet he wanted the clash of opposing perspectives to fully inform his own views on how best to achieve that vision.
The success of Lincoln’s team of rivals holds a lesson for boards everywhere, that it’s better to have tough questions asked by directors in the boardroom than by consumers in the marketplace.
Challenge, Verify, Trust
The art of creative tension has many facets. At times, it can leave some wondering if it’s worth the effort. Creative tension is not for directors who are quick to judge or slow to envision. It takes both time and imagination. Creative tension is not for directors who crave order. It can alter alignment and disrupt the status quo. Creative tension is an act of professional exertion for board members, one that requires the courage to challenge, the tact to verify, and the confidence to trust.
Yet regardless of how creative tension is administered, what’s most important is that it leads to better decisions. That’s why boards should use this most powerful governance tool. Exceptional boards do. For them, the eyebrow raised and question asked are ultimately what make the biggest smiles possible.
Gallery: Protest outside Facebook's New York Office 7 images View gallery
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a34efd664518916ffe8e13f97173a5f0
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https://www.forbes.com/sites/forbesleadershipforum/2014/04/22/the-best-way-to-learn-a-foreign-language-is-the-opposite-of-the-usual-way/
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The Best Way to Learn a Foreign Language Is the Opposite of the Usual Way
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The Best Way to Learn a Foreign Language Is the Opposite of the Usual Way
This article is by Katharine B. Nielson, the chief education officer at Voxy, a language-learning company based in New York City.
The renowned Mexican author Carlos Fuentes once remarked that America’s monolingualism is a great paradox: We’re the dominant world power, yet also the world’s most linguistically isolated one. The numbers appear to bear this out. Roughly 17% of U.S. citizens can speak more than one language, compared with 54% of Europeans. Stanford Professor Russell A. Berman, former president of the Modern Language Association, has warned that the U.S. is quickly becoming a nation of “second language illiterates.”
If we can’t communicate with the rest of the world, our businesses lose opportunities, and our citizens lose jobs to global graduates who have the language skills we lack. Often the solution is presented as one of resources—if we simply divert more time and money to language instruction, we can finally cure the U.S. of its seemingly permanent dependence on English.
However, the problem runs far deeper than resources; it's that as a nation we still don't know how to teach language effectively. The curriculum for nearly every introductory language class revolves around grammatical concepts, and we spend far too much time on the rules of language. As a result, students are forced to suffer through grammar-focused instruction that makes them adept at conjugating verbs but leaves them mute when they are pressed to have a conversation. What they need instead is the chance to use language the way it was intended, as a tool for communication, not as a complex set of rules to master.
Europeans have seen the writing on the wall, and in recent years a popular language teaching methodology has grown up in many countries called "content and language integrated learning." The idea: Use foreign languages to teach non-language subjects. Early research indicates that this is effective at fostering an environment that leads to impressive language learning.
Drawing on a similar approach, in 2006, U.S. Customs and Border Protection did away with the grammar-based Spanish course required of its agents-in-training and replaced it with a curriculum centered on teaching specific, job-related tasks in Spanish. The resulting improvements were dramatic. Not only did the agents get the language skills they needed to perform their jobs more effectively, but even though the new course did not follow a grammar-based syllabus, their grammar was better too.
These results just add to the growing body of research indicating that if we want to improve outcomes, we should fundamentally reevaluate how we teach foreign languages in our schools. We might start by rethinking the concept of language classes altogether. For instance, instead of having isolated courses called “Spanish” or “Arabic,” we should disperse language instruction across the curriculum. One way to achieve this and at the same time make language learning more engaging, would be to send younger students to specialty classes, such as music, art, or gym, taught in a foreign language.
Then when they reached high school, they would be in a position to benefit from additional specialty or elective courses that used foreign languages to teach anything from drama to home economics, allowing us to do away with the outdated, segregated model of language instruction that still dominates secondary education while still preparing interested students for advanced study of literature and culture.
At the same time, doing so would open up opportunities for schools with large populations of students whose first language is not English. Instead of treating them as an expensive problem to solve, we could take advantage of their native language expertise in specialty classes and electives, turning them into a valuable part of our solution.
Helping Americans move beyond English should be a top priority, but we won’t see the outcomes we need until we abandon approaches that don’t work. By de-emphasizing the focus on language itself, we may actually improve our acquisition of it, because when we stop trying to teach people about what they are saying and just start expecting them to say it, we will see far better results.
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ca3ea6434a056ca3a142895798288db8
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https://www.forbes.com/sites/forbesleadershipforum/2014/05/19/why-everything-youve-read-about-ukraine-is-wrong/
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Why Everything You've Read About Ukraine Is Wrong
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Why Everything You've Read About Ukraine Is Wrong
This article is by Vladimir Golstein, a professor of Slavic studies at Brown University. He was born in Moscow and emigrated to the United States in 1979.
The mainstream American media has taken a nearsighted view of the Ukrainian crisis by following a script laid out by the State Department. Most reports have either ignored the truth or spun it in a way that paints only a partial picture. Here are seven things you should know about Ukraine.
1. Regardless of claims by some commentators like Forbes contributor Greg Sattell, the divisions in Ukraine are real, and violence unleashed by the Kiev regime is polarizing the nation further. While the differences between the Ukrainian west and the more Russian-facing rest of the country are widely acknowledged, what tends to be overlooked is that the culture, language, and political thinking of western Ukraine have been imposed upon the rest of Ukraine. Ostensibly this is for the sake of “unifying the country,” but in fact the objective has been to put down and humiliate Ukraine’s Russian-speaking population. The radical nationalists of western Ukraine, for whom the rejection of Russia and its culture is an article of faith, intend to force the rest of the country to fit their narrow vision. Western and eastern Ukraine do not understand each other’s preoccupations, just as Cubans in Miami and Cubans in Havana would not understand each other. Ukrainian conflict is not the conflict between the “pro-Russian separatists” and “pro-Ukrainians,” but rather between two Ukrainian groups who do not share each other’s vision of an independent Ukraine.
Western Ukraine was joined to Russia only during Stalin’s era. For centuries it was under the cultural, religious, and/or political control of the Austro-Hungarian Empire and Poland. Hating Soviet occupation, western Ukrainian nationalists viewed Stalin as a much greater villain than Hitler, so that the Organization of Ukrainian Nationalists aligned themselves with Nazis and, led by their radical leader Stepan Bandera, proceeded to rid their land of other ethnic groups, including Poles and Jews.
Western Ukraine is unified in its hostility toward Russians, whom they see as invaders and occupiers. During the last 20 years, as Ukraine tried to distance itself from its Soviet past and its ideology, it chose the nationalism of western Ukraine as the alternative. A necessary correction, perhaps, but the one that has generated its own dangerous myths. Easterners are angry that pro-Bandera banners, posters and graffiti are popping up all over Ukraine and with the rewriting of history in general, where violent nationalists who fought alongside the Nazis are treated as heroes while Russians, who suffered under Stalin no less than the Ukrainians, are denigrated. Following the exile of President Victor Yanukovich and Russia’s annexation of Crimea, Ukrainian nationalist rhetoric has become downright offensive and hysterical, ostracizing further the people in the east. The escalating violence will continue to radicalize both sides, so instead of finding a democratically acceptable solution they will resort to baseball bats and AK 47s.
2. The Western press was wrong about the massacre of Ukrainian citizens in Odessa on May 2, 2014, when as many as 100 (the officially accepted number appears to be 42) unarmed people were burned alive in an Odessa building. When telling the story, the Western press reported on the clashes between pro-Ukrainian soccer hooligans and pro-Russian protesters without any explanation as to why the results of these clashes were so one-sided.
What happened in Odessa was something ominously familiar to Eastern Europe: an organized pogrom. At least the BBC got part of the story right: “several thousand football fans began to attack 300 pro-Russians.” And as in every pogrom, the victimizers blamed their defenseless victims for initiating it. In fact, pro-Kiev thugs armed with iron rods and Molotov cocktails attacked the camp of protesters, set it on fire, and forced the protesters to retreat into a building, which was set on fire. It was a blatant act of violence and intimidation. The current leaders of Ukraine promised an investigation, but so far their only response has been to blame the passivity of security forces. The truth is that the victims simply refused to share Kiev’s radical nationalist agenda. Should we call civilians “separatists” or “terrorists” only because their rejection of radical nationalism has resulted in Occupy-type protests? Why not call them moderate Ukrainians? Incompetent at best and vicious at worst, the Ukrainian government is failing its own population by condoning the intimidation and thus radicalizing it further. This is major news, a possible watershed in the unfolding drama of Ukrainian civil war, yet Western coverage has quickly forgotten the story.
3. The Ukrainian elections scheduled for May 25 would hardly solve the economic problems of Ukraine, since there is a glaring absence of good candidates. Current political contenders in the elections are either Soviet-style oligarchs like Petro Poroshenko, corrupt politicians like former Prime Minister Iulia Timoshenko, or former member of Timoshenko’s cabinet Arseny Iatseniuk. Corrupt as ousted president Viktor Yanukovich proved to be, he did win the role in the last election, with the country traumatized by Timoshenko’s own corruption. It is a sad feature of the Ukrainian political scene that its most independent and dynamic politician is Oleh Tyahnibok from western Ukraine, the controversial leader of the far-right nationalist party, Svoboda. His party is mired in Bandera-Nazi accusations, while Russia declared him a “fascist” and opened a criminal case against him for organizing the assault on the civilians in eastern Ukraine.
4. Politicians do not really matter in Ukraine, because Ukraine is the land of oligarchs. For better or for worse, Putin has put an end to oligarch rule in Russia. Members of Putin’s inner circle may be immensely rich, but they know to whom they owe their wealth. By imprisoning Mikhail Khodorkovsky, Putin sent a clear message to the all-powerful oligarchs that controlled Russia during former president Boris Yeltsin’s time: stay out of politics. Ukraine didn’t have this experience, and the politicians seem to be working in unison with, if not under the control of, oligarchs. There are frequent tensions among them or between them and politicians; for instance, the richest person in Ukraine, Rinat Akhmetov, worked closely with Yanukovich, while others preferred Timoshenko or Victor Iuschenko. Akhmetov’s business interests are connected with the metallurgical industries in the east and he has organized his 300,000 employees to help him assert his control over eastern Ukraine and fend off military attacks on civilians, attacks which were encouraged by another oligarch, Igor Kolomoisky.
5. The Western press, including Forbes, has underestimated the extent of oligarch Igor Kolomoisky’s influence. Taking the concept “corporate raiding” literally, Kolomoisky has employed paramilitary units at his disposal for all kinds of hostile takeovers. Undoubtedly a shrewd businessman, he managed to wrestle various businesses from such powerful competitors as the current president of Tatarstan, and, if we believe Putin, from Russian oligarch Roman Abramovich. Kolomoisky’s recent foray into politics has been carried out on the same grand scale. Even though he resides in Switzerland, he has been appointed the governor of the Dnepropetrovsk region. He has offered a bounty of $10,000 for any “Russian Separatist,” provided the Ukrainian army with necessary equipment, and armed nationalist volunteers. With the regular Ukrainian army reluctant to shoot its own population, Kolomoisky’s units have participated in various military attacks on the east, including the May 9 assault on Mariupol, where several civilians were killed. Russian sources connect him to the massacre in Odessa. Members of the new governor of Odessa, appointed after the massacre, are his close associates.
Kolomoisky’s “pro-Jewish” activity has its own share of controversy. He gives money to various restoration or construction projects from Jerusalem to his native Dnepropetrovsk, serves as the president of the Jewish community in Ukraine, and in 2010 he became the president of the European Council of Jewish Communities, following his promise to donate $14 million for various projects. Other EJCJ members described his appointment as a “hostile takeover Eastern European style.” After several of them resigned in protest, Kolomoisky quit the EJCJ, but not before he set up an “alternative” committee called European Jewish Union. Jewish leaders subservient to Kolomoisky claim that Ukraine is now an open, pluralistic society, but in light of Ukraine’s tradition of anti-Semitism and pogroms, it is hard to be optimistic.
The Western press complains about Putin’s state-controlled media, but Kolomoisky has no less information control. His business holdings include the largest Ukrainian media group, “1+1 Media,” the news agency “Unian,” as well as various internet sites, which enable him to whip public opinion into an anti-Putin frenzy. Andrew Higgins of The New York Times published a story with the headline, “Among Ukraine’s Jews, the Bigger Worry is Putin, Not Pogroms,” which praises Kolomoisky for adorning Dnepropetrovsk with “the world’s biggest Jewish community center” along with “a high tech Holocaust museum.” Higgins notes, however, that the museum “skirts the delicate issue of how some Ukrainian nationalists collaborated with Nazis…explaining instead how Jews supported Ukraine’s efforts to become an independent nation.” In other words, this high-tech museum is no more than a media project, as it focuses on issues unrelated to the Holocaust at the expense of honoring the victims and documenting the role of the Ukrainian collaborators.
6. Russia is weak. The country is losing population and shrinking geographically and economically. Russia is clearly overextended. Look at the Russian-Chinese border, where the concentration of population reveals a grim picture for Russia: there are about 100,000 Chinese per square kilometer on the south side of the border vs. 10 Russians on the Russian side. Only a fanatical Russophobe would imagine that Russia wants to expand. The Baltic republics, Moldova, Georgia, and Poland, continue to prod Western media with the stories of Russian expansion, because NATO, the EU, and the USA are more than happy to “stand up to Russia” and provide financial aid.
7. President Putin has been accommodating to Western interests. Despite what you read in the Western press, he didn’t protest about NATO expansion, he gave up on a number of important Russian military bases, and acted aggressively only when he felt that Russia’s back yard was threatened. Annexation of Crimea, while responding to very strong popular demands both in Russia and Crimea, was a limited operation that enabled Putin to save his face after “losing” Ukraine. Since then he has given plenty of indications that he is ready to call it a day. His limited goals are acknowledged in the writings and interviews of such people as former ambassador to Russia Jack Matlock, or former Secretary of State Henry Kissinger. But what needs to be stressed is that the next Russian leader might not be that accommodating, especially in light of continuous and needless bullying on the part of the US. Dmitry Rogozin, Russia’s NATO representative and a serious political figure on the right, has already declared that next time he’ll fly into Ukraine and Moldova on military bomber after these countries didn’t allow his plane to use their airspace. What gave rise to Hitler was Germany’s continuous humiliation after World War I. The policy of public humiliation of Putin, the talk of “punishing” him or Russia for bad behavior, is insulting to the Russian leader and his countrymen. In contrast to Germany in 1939, Russia still has plenty of nuclear arms. Had Russia intended to enslave the US or its allies with its threat of nuclear bombs, I would be more than happy to repeat after New Hampshire: “Live Free or Die.” But is it worth it to taunt and threaten an already angry and frustrated nuclear power for the sake of handing Ukraine to the likes of Mr. Kolomoisky and his motley crew of oligarchs, nationalists, and subservient politicians? Those Western politicians and journalists, who confuse the issue of defending freedom with the power games that the current Ukrainian elite is playing, should be aware that they are not serving, but rather betraying, cherished American principles.
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52cf579bfeff890fbf7a51de3d861612
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https://www.forbes.com/sites/forbesleadershipforum/2014/06/03/five-lessons-board-directors-can-learn-from-activist-investors/
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Five Lessons Board Directors Can Learn From Activist Investors
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Five Lessons Board Directors Can Learn From Activist Investors
This article is by Sally Blount, dean of the Kellogg School of Management at Northwestern University and a member of the board of Abbott Laboratories.
The growing role of activist investors in Fortune 500 companies over the past decade has created a lot of stress and uncertainty. Some directors and chief executives call activist investors “economic predators”; others see them as a driving force in maintaining the competitiveness of the American economy.
In the past year I have had the chance to have some lengthy interchanges with activist investors. Some of them are our alumni, others have been visitors to our campus. Just last week we heard from a couple of them at our corporate governance conference. They are a unique breed.
No matter what you think of activist investors, they tend to be smart and even reflective, especially the ones who take long-term positions. Here some key lessons I’ve learned as a business school dean and as a board director from listening to them.
1) Do your reading (broadly). The strongest activist investors really do their homework, on the company, on the industry, and on the management talent, and not just at one company but throughout the industry.
2) Run the numbers. Activist investors do their math, so be sure you constantly run the numbers too, on cash, on taxes, and on where capital is being generated and allocated. And read the footnotes in your financial statements. Ask yourself, does this all make common sense? Is there a financial play we haven’t explored that could create more value?
3) Consider zero-based budgeting. Activists are not attached to your company or industry, so they don’t fall prey to a status quo bias. Directors need to remember that a company's having always spent this much on R&D or marketing doesn't mean it always should. It is important to take a fresh view and to constantly benchmark the competition, both within your industry and in related industries.
4) Focus on unlocking value. The best activist investors go beneath the portfolio to study the individual units. They constantly ask, is this the right management team? What are the core competencies required to win in this business? Are synergies being gained by having this business as part of this portfolio? Would the business be better run on its own, or as part of a different company?
5) Know your investors before the activists do. Activists will be successful only if the majority of shareholders agree with them, so know your investors and their core questions and concerns before there’s an issue. And don’t assume that Investor Relations has it covered; make sure you get updates from senior management every few months on what they’re hearing from your largest investors.
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28a5e5a902266c64ce427885a19f51ce
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https://www.forbes.com/sites/forbesleadershipforum/2014/06/09/here-comes-tougher-international-price-fixing-enforcement/
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Here Comes Tougher International Antitrust Enforcement
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Here Comes Tougher International Antitrust Enforcement
This article is by Philip Giordano, a counsel in the antitrust practice of the law firm Kaye Scholer and a former prosecutor in the Justice Department's Antitrust Division.
The Justice Department’s program to prosecute international price-fixing and bid-rigging cartels has shifted into overdrive. After dramatically expanding the scope of criminal antitrust enforcement over the past decade, federal prosecutors at the department’s Antitrust Division obtained a record-breaking $1.1 billion in criminal fines in 2013. That was when the Division was saddled with severe budget cuts, a lengthy hiring freeze, multiple office closings, and a 16-day government shutdown. Now, with these impediments largely behind it, the Division has raised its sights.
The latest international cartel investigation acknowledged by the Division is a probe of alleged anticompetitive conduct among capacitor manufacturers, potentially worldwide. Capacitors are ubiquitous electronic components found in a vast array of electronic devices, from consumer electronics to heavy machinery. Manufacturers produce trillions of them a year.
Published reports indicate that U.S. prosecutors may be coordinating their investigation with counterparts across Asia and Europe. After Chinese competition authorities raided Japanese capacitor manufacturers in China in March, two Japanese companies, NEC Tokin and Taiyo Yuden, acknowledged that they were cooperating with investigators. Korean competition authorities followed up the first week in May with a visit to the Korean facilities of Japan's Panasonic Corporation. Japanese and European Union competition authorities have initiated their own investigations.
Press reports indicate that a Japanese corporation has applied to the Justice Department’s leniency program, which grants amnesty to the first conspirator to report collusive conduct.
This broadside against the electronic components industry signals that the Justice Department is not resting on its laurels when it comes to Asian cartelists and their American subsidiaries. Over the past decade, the Antitrust Division has prosecuted more than a dozen Asian companies for fixing prices on high technology products, including dynamic random access memory chips, liquid crystal displays, cathode ray tubes, optical disk drives, and lithium-ion batteries. Corporate criminal penalties have skyrocketed—in 2012 prosecutors obtained a $500 million criminal fine from Taiwan-based AU Optronics for fixing the prices of LCDs.
Any fines imposed on the capacitor companies now under investigation could very well eclipse that sum, given the sheer volume of capacitor production and the very real possibility that prosecutors may uncover collusion on related electronic components.
It would not be the first time that the focus of a Justice Department cartel investigation shifted from a singled product to multiple conspiracies across a supply chain. This is in fact increasingly the norm. In early 2010 the Antitrust Division went public with an investigation into automotive wire harnesses. Plea agreements for fixing wire harness prices were quickly followed by pleas on a range of other automotive products, including electronic control units, sensors, switches, high intensity discharge ballasts, and ignition coils—nearly 40 products in all.
The auto parts investigation, which is ongoing, has set three new Division records for a single investigation:- an eye-watering $2.2 billion in criminal antitrust fines, guilty pleas from 27 companies, and charges filed against 30 executives, nearly all of whom have served or are expected to serve jail terms. Among them is an American citizen who received a sentence of 14 months.
Now all indications point to an even more aggressive U.S. enforcement effort, with high technology imports front and center.
William J. Baer, the assistant attorney general for antitrust, has installed new leadership at the helm of the criminal program, notably Brent Snyder, a prosecutor known in particular for his high-profile prosecutions of cartels in high technology industries. Baer has brought Antitrust Division staffing levels back up from last year’s low. He has opened a second criminal enforcement office in Washington, D.C. Under his leadership, the Antitrust Division’s Chicago office has joined the fight against international auto parts cartels and obtained a $425 million criminal antitrust fine against a Japanese producer of anti-vibration rubber. And in April, in a long-sought first, the Justice Department extradited a foreign national on a criminal antitrust charge. These important recent developments set the stage for the direction of future enforcement.
With the Antitrust Division running full tilt, domestic and foreign firms alike should reevaluate their interactions with their competitors and strengthen their antitrust compliance programs. Upper management must lead the charge to reinforce employee codes of conduct and reinvigorate internal oversight. Collaboration with competitors on technical specifications, while often desirable, can evolve into pricing or bidding discussions. Management should also review employee participation in trade associations, especially the informal interactions that may follow official association meetings. Salespeople who have robust relationships with counterparts at competing firms may represent significant antitrust vulnerabilities.
If a company uncovers questionable conduct, it should consider reporting it to the Justice Department and applying for its leniency program. Despite its gravity, such a decision must be made without delay, because only the first qualified applicant to report the conduct will receive immunity from criminal antitrust charges and fines. By design, the winner-take-all nature of the program pits competitors against one another to be the first to report potential antitrust violations.
Even so, often a company that is beaten to the punch later discovers that its employees may also be fixing prices on other products through a second cartel. If the company reports that conduct, it can not only receive immunity for the second cartel offense but reduce any fine that may be imposed for the first cartel offense. This inducement can help prosecutors broaden an investigation dramatically.
The Justice Department’s leniency program has been instrumental in exposing international cartels to the ordeal of a government inquiry. A reprovisioned Antitrust Division is primed to intensify the scrutiny it applies. With capacitor manufacturers incentivized to report potential price fixing of other passive electronic components, the Justice Department is on a trajectory it will not lightly abandon.
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fd84ec2b999a1ee9a2261285d732c95f
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https://www.forbes.com/sites/forbesleadershipforum/2014/09/03/how-to-create-innovation-cultures-that-keep-working/
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How to Create Innovation Cultures That Keep Working
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How to Create Innovation Cultures That Keep Working
Americans are innovative almost by nature. We grow up with lemonade stands, Shark Tank, and Kickstarter projects. Our national identity is built in part on bootstrapping and experimentation. We’re indoctrinated early with the twin beliefs that each of us holds the seeds of invention and that a good idea can come from anywhere.
And that’s a big problem for corporate culture. Because innovation is the water we swim in, we tend to believe that once we’ve created a functioning culture of innovation, it will sustain itself naturally.
It won’t. Like every other part of a successful business, a culture has to be continually managed, refreshed, and refocused.
During the last four years, my team and I have engaged with executives from over 300 global enterprises across 20 major industry segments. Along the way, we’ve conducted our own informal survey on innovation management. What we’ve heard is that of all the challenges businesses face, culture is the one true deal breaker. It has the power to stymie invention and discovery at every level. Smart companies are already consciously designing the human experience to foster breakthroughs, but they don’t plan for what happens when their culture evolves or breaks down.
Here are two popular innovation culture styles, their challenges, and the best ways to keep them robust and healthy.
Formulaic Cultures
At BMW, the creation of a new car concept is a wonderful orchestration. Every detail, from engine size to how a door closes and to how an engine should sound, is carefully planned. Any new technology, such as a rear-view camera, is prototyped, integrated into the design, endlessly tested, and weighed to the gram. To accomplish all of this requires the coordination of multiple departments—materials science, styling, power train, ergonomics, and manufacturing.
Looking to speed communication and promote idea-sharing across divisions, executives have brought all of the critical functions together under one roof. The headquarters building in Munich uses a hub-and-spoke model with a central core connected to each of the floors that house the product groups. No matter where you are in the complex, you’re within easy walking distance of any of the expertise centers—electronics, safety, environment, drive train, etc. As you spiral down into the building, you can experience firsthand how even the most mundane task is still connected to the overall vision of the BMW experience.
In other words, BMW's leaders put as much thought into designing how people work as into their cars. Their culture is an exemplar of formulaic innovation management.
Companies in this category don’t just bolt on an R&D department and wait for the latest idea to pop out. Instead they inculcate a vision and support it with operational processes throughout the culture to enable their employees to take measured risks. Innovation is socialized. New ideas are encouraged and can emerge from anyone in the company. When good ideas do emerge, they’re supported through one of the company’s time-tested processes.
The big challenge with process-oriented cultures is that they can begin to value the system above breakthroughs. Like Rube Goldberg machines run amok, the path to results grows ever more elaborate and convoluted.
One antidote is to shorten the distance to failure by returning to rapid prototyping and testing. When the speed of failure slows, so does the speed of invention.
The second challenge is that the culture can become complacent. Lulled by the hum of the company’s finely tuned processes, employees are placated by steady incremental innovations and forget to stretch for breakthroughs. Disruption, after all, may start with upending a cherished system inside the company.
A powerful remedy is to open the culture to the outside. Look across domains and value chains. Don’t abandon processes but rather retarget and reinvigorate them.
Recently BMW announced and delivered a new series of electric cars. The company challenged itself to rethink design and performance at every level. What emerged were two completely new approaches to function and style, the i3 and the i8. BMW’s intent is clearly to give Tesla a run for its money but also to redefine what it means to experience an electric-powered car. Employees knew from the start that the goal was not to build a me-too vehicle but to find a way to articulate BMW’s vision of the “ultimate driving machine” in a new platform.
Entrepreneurial Cultures
Despite the outsize attention they often garner, true entrepreneurial cultures are rare in large companies. One of their hallmarks, at least in their early days, is that they often feature a single, rogue innovator, a leader who by timing or luck finds himself orchestrating a maelstrom of technology disruption. Think Steve Jobs, Mark Zuckerberg, Carroll Shelby, Stephen Elop, Sergey Brin, or, long ago, Edwin Land at Polaroid. In keeping with the bold personalities that run them, the companies are usually willing to take risks that normal companies would consider off the charts.
Cultures that form in response to these leaders are almost never satisfied with incremental growth but rather strive for major disruption. Like sharks, they target and attack mature companies where they are weakest—in their business models. They prey on lethargic industries with outdated practices that can be completely disintermediated. They use the power of emerging and disruptive technologies to reinvent the way products and services are used.
Such companies and their cultures can accomplish historic things. They are the very embodiment of the go-big-or-go-home mentality.
The challenge with entrepreneurial cultures is that they can rely too heavily on the genius and charisma of the central innovator. His (or her) singular vision can overshadow everything, often devaluing the ideas of others and fostering an atmosphere of suppression and fear. In fact, the leader can be so difficult to handle that the company grows weary of the struggle and forces him out. One of the more stunning images in Silicon Valley history is that of ousted disk drive legend Al Shugart driving each morning past the company bearing his name. And of course, Steve Jobs became the poster child for fired icons after being booted from the first iteration of Apple under John Sculley.
The antidote for this kind of lopsided culture is to empower others. Designate intrapreneurs. Create models and practices that don't just encourage novel thinking but also offer channels and forums to openly challenge leadership. Steve Jobs did this brilliantly in his second term at Apple.
Sergey Brin, the co-founder of Google, may have started as a maverick, but he has settled into being the kind of visionary leader it takes to create and nurture a culture friendly to other entrepreneurs. Google revealed its 9 Principles of Innovation last year, and they’re worth studying. Like BMW, Brin and his team deliberately established processes to provide the necessary protection for risk takers.
The lesson is that a faltering culture is not a failed culture. Even the big boys go off the rails occasionally. Like the process of innovation itself, cultures require constant adjustment. Make your culture responsible and responsive to its own actions. Stay conscious. Stay deliberate. Keep iterating, not just on product but on culture.
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957c432f143e46c99ae6900b52d7dc3c
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https://www.forbes.com/sites/forbesleadershipforum/2014/09/22/the-future-smart-city-will-be-built-around-you-and-the-internet-of-you/
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The Future Smart City Will Be Built Around You and the Internet of You
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The Future Smart City Will Be Built Around You and the Internet of You
Pssshhhhhhtttt. Like a shot of steam in your morning latte, the sound of train doors opening injects vitality into any urban commute. But imagine that at 7:18 a.m. on Monday in the London Underground the red doors stay open and quiet, and stay, and stay . . .
Inside the rail cars, instead of the familiar sway and howl of a train at pace, there’s just a nervous electrical hum. Londoners sit, yawn, and scroll absently on their phones. Tired of waiting, a couple of would-be passengers make a decision to tuck away their phones and head back out onto the platform.
Now what?
The commuters have no idea why their train is delayed or when or if it will move again. So they’re forced into a scavenger hunt for an alternate way to work.
To be fair to London, this experience is rapidly becoming extinct. The city upon the Thames is growing faster than at any other time in its 2,000-year history. According to the City of London, the core will hit 9 million in population before New York and approach 10 million by 2030. London is on track to become one of 30 megacities that will exist by 2023. So it is necessarily reinventing itself in the digital age as a Smart City.
How does becoming a Smart City save the hapless riders stranded on the train? Imagine you’re a commuter in a different scenario. Sensors monitoring the Tube and its trains detect an irregularity in the brake system of your usual train. The data gets reported in real time to the government agency Transport for London (TfL), checked with a probability heuristic, and confirmed. There’s a 90% chance of brake failure in the next two hours.
No problem. Before you can leave a tip for the barista at your favorite coffee house, a text message alerts you to the delay and offers you an alternative route, as well as a coupon for a discount on your next cup of coffee. All compliments of the City of London and TfL. Apps like Citymapper are already taking the first toddling steps toward this ideal.
That’s why the current model of a Smart City as an extended Internet of Things is inadequate. It leaves out the most critical component—you, the digital citizen. You are not just a thing, but the reason the system exists. There can be no useful vision of a city, smart or otherwise, that doesn't place you at its center.
So, then, what is a smart city? And what are the implications for the people who live within its bounds? To truly make the most of what a city can be, planners, companies, and urban dwellers need to understand three critical things:
1. You don’t just live in a city; you cross through its layers every day.
In the simplest view, cities have three layers: the underground level, the surface, and the airspace. In a Smart City there’s a corresponding parallel universe of data-collecting sensors integrated within each stratum.
Take, for example, the underground. Like trees with a massive root system, cities are figuratively and literally supported by a vast subterranean physical complex—transportation, heat, sewers, fresh water, electricity, communications, and structural supports. Today these systems are being augmented with sensors, digital arrays, and hubs to monitor every aspect of their activity. If the earth shakes, whether from a train or a seismic event, the data will be accurately captured.
The next layer is the surface. Think of streets, parks, plazas, and even the retail shops, restaurants, and other buildings or entrances normally accessible from street level. At this layer the parallel digital network includes cameras, location-based services, cellular networks, and sensors monitoring everything from traffic to the pace of pedestrians.
The final layer is airspace. Skyscrapers, bridges, and towers hold aloft sensors that monitor wi-fi, weather, air quality, and perhaps even drone traffic.
So why is it important to think about the strata of the city? Because humans cross through each layer every day. Any technology solution that fails to anticipate and account for people is, at the outset, a hobbled initiative. The truly connected city begins to emerge in how data is managed across all three physical layers. Data analytics becomes the glue that, when managed well, dramatically improves your experience of life.
2. You will be the active, mobile center of a vast network.
We’re used to thinking of ourselves as part of a social network, but done right, Smart Cities promise to put each of us at the center of far-reaching civic and commercial networks, too. Points of connection will be everywhere—smartphones, clothing, cars, benches, buildings, parking meters, speed bumps, shop windows, and more. Pass by your favorite clothing boutique and your jacket alerts the store, flashing a special price on the window just for you.
Of course, smart doesn’t just mean opportunistic sales. The kind of porous and flexible connection required for usability argues for a whole new level of data security and privacy. A truly smart city must take into account social policy and how it translates into protection for its citizens. The good news is that as points of connection proliferate, so will your choices about when and how to interact with the network.
3. You will have the power to shape your experience of the city.
In another futuristic example, imagine acting as a kind of living thermostat to regulate the temperature of your city. On the surface during rush hour, above certain key transit hubs, the temperature of the sidewalk can soar up to 20 degrees higher than the surrounding environment. What if city managers could transfer that heat from underground into the buildings above? Instead of energy escaping into the atmosphere, buildings could reduce their heat consumption and improve their carbon footprint. Take it a step further, and thousands of commuters could voluntarily alter their routes to promote heat exchanges and maybe even receive energy tax credits.
Cities have always shaped their inhabitants. The élan vital can manifest in an accent, the pace of service, or even how much time people spend outdoors. But this may be the first time in history that an individual citizen will have the power to push back on and shape her city in real time. We’re reaching a new level of engagement—a kind of symbiotechna.
In coming articles, we’ll look more closely into the specifics of Smart Cities and the tremendous creative potential for sustainability, livability and commercial impact. Smart means a safer, healthier, cleaner, and even joyful city. Always with you at its heart.
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8c257a6e483ea2e269ad73ce2a8f7f00
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https://www.forbes.com/sites/forbesleadershipforum/2014/10/24/why-you-need-to-read-peter-thiels-new-book-at-least-the-good-parts/?utm_content=buffer06f18&utm_medium=social&utm_source=linkedin.com&utm_campaign=buffer
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Why You Need to Read Peter Thiel's New Book -- at Least the Good Parts
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Why You Need to Read Peter Thiel's New Book -- at Least the Good Parts
This article is by Marty Neumeier, director of transformation at Liquid Agency, and author ofMetaskills: Five Talents for the Robotic Age and The 46 Rules of Genius; An Innovator’s Guide to Creativity.
In his remarkable new book, Zero to One: Notes on Startups, or How to Build the Future, Peter Thiel comes off as a brilliant young man with a tendency toward exaggeration. Indeed, everything about him seems exaggerated: his businesses successes (as cofounder of PayPal and Palantir), his net worth ($2.2 billion and counting), his educational credits (Stanford B.A. in philosophy, J.D. in law), his political views (avowedly libertarian), his energy level (off the charts), his self-confidence (not a doubt in sight), his vision for technology (human longevity, “seasteading” communities, eventual takeover by intelligent machines).
And now this book.
Zero to One is assuredly worth reading, even if you’re not engaged in the world of startups and venture capital. It’s worth reading in the same way a triple espresso is worth drinking: It makes you feel superhuman, at least temporarily. You can almost hear the caffeine coursing through your veins as you absorb its ideas.
Peter Thiel. (Photo credit: Wikipedia)
Still, you might want to read the book on two levels, both as a business book and as a political manifesto. And because it is a hybrid, you may need to work a little to separate the baby from the bath water.
Thiel’s first point is that creating a game-changing company means going from zero to one—from nothing to something, instead of going from something to a slightly better something. What a zero-to-one company does is lay claim to an uninhabited stretch of market space in order to create a monopoly. A monopoly, in Thiel’s vocabulary, is not the bad thing we associate with bullies. It’s a good thing that opens up valuable market territory by doing something new.
Is he simply using the word monopoly to provoke us? Maybe, but it’s an effective way to get our attention so he can deliver the book’s main point, which is simply this: Businesses succeed better when they differentiate rather than compete. Direct competition drains value as companies beat each other up. Differentiation creates value as companies charge more for desirable products and services that customers can’t get anywhere else. It’s the same principle that forms the basis of brand strategy. We’ve already seen many books on the subject, including 1981's Positioning, by Jack Trout and Al Ries, and even classical writings on strategy by Sun Tzu and Carl von Clausewitz.
Why play dress-up with old ideas? So Thiel can lash on his peg leg and black eye patch and make room for further piratical assertions.
Consider the following:
“Creative monopolists” give customers more choices by adding entirely new categories of abundance. The history of progress is the history of new monopolies replacing incumbents. “Every business is successful exactly to the extent that it does something others cannot.” Monopoly, therefore, is not a pathology but a condition of success.
While “every monopoly is unique,” he adds, they share these four attributes: “proprietary technology, network effects, economies of scale, and branding.” Without these four, any business will be the equivalent of a family restaurant, where the kids have to wash dishes to keep the place running in the black.
He advises us to “err on the side of starting too small.” The perfect place to start is where there’s a small concentration of people served by few or no competitors. From there you can scale it up, as long as you have the advantages of proprietary technology (your secret sauce) and network effects (the tendency of a service to become more valuable as more people use it).
Whatever you do, don’t “disrupt” a market, he warns. Disruption, he says, has been devalued to “a self-congratulatory buzzword for anything posing as something trendy and new.” Disruptive companies in Silicon Valley often pick fights they can’t win.
Also in Silicon Valley, “Would-be entrepreneurs are told that nothing can be known in advance; we’re supposed to listen to what customers say they want, make nothing more than a ‘minimum viable product,’ and iterate our way to success.” He says that Apple succeeded by doing the exact opposite.
He encourages would-be entrepreneurs to ask this question: “What valuable company is nobody building?” Any good answer to this question must necessarily harbor a secret. It can be a secret of nature or secret of human nature, but in both places there are always hidden truths to be discovered, if we only look in a certain way. When you share your secret, you turn others into co-conspirators.
With contrarian flair he asserts that the less money a startup pays its chief executive, the better it will do. “In no case should a CEO of an early-stage, venture-backed startup receive more than $150,000 per year in salary.” High pay incentivizes him to defend the status quo instead of working aggressively to find and fix problems.
“The most important task in business—the creation of new value—cannot be reduced to a formula and applied by professionals.” He observes that most successful founders are contradictions, bigger-than-life characters who can “make authoritative decisions, inspire strong personal loyalty, and plan ahead for decades.” He cites Richard Branson, Howard Hughes, Bill Gates, and Steve Jobs, and tosses in pop icons such as Elvis, Lady Gaga, Michael Jackson, and Britney Spears.
Finally, he examines a range of scenarios for the future of humanity, borrowed from the philosopher Nick Bostrom. The most common four are: 1) recurrent collapse, a never-ending oscillation between prosperity and ruin; 2) plateau, the belief that the rest of the world will catch up to the richest countries, and then we’ll stay at that level; 3) extinction, in which our technology will bring humanity to a cataclysmic end; and 4) takeoff, the idea espoused by transhumanists, in which people increasingly blend with machines to create a world of complexity and abundance that we can’t even imagine today. Clearly, Thiel is in the final camp, although he’s careful not to say it.
This is a fascinating collection of thoughts, including some surprising truths and more than a few exaggerations. So which part of the book is the baby, and which is the bath water?
Let’s start with monopolies. Do they really serve society better than price-busting competitors? Sure, as long as they unleash creativity and generate broad-based wealth. When they mature into self-perpetuating bullies (such as Microsoft, and increasingly Google, Apple, and Amazon) they tend to block other innovators by any means at their disposal.
Next, does every business really succeed exactly to the extent that it does something different? Not quite. First of all, it’s possible to launch a product that’s different but not compelling. Think of Pets.com, Apple Newton, or Clairol Touch-of-Yogurt Shampoo. Second, monopoly status doesn’t always encourage broad success. Monopoly becomes pathology when we create rules that favor a handful of haves and in the process hollow out the middle class, as we’re doing now.
When he writes that every monopoly is unique, sharing only “proprietary technology, network effects, economies of scale, and branding,” he makes one of his truest observations. Strong companies are those that start with a unique market position; weak companies are those that fail to differentiate, believing the world only wants more instead of different.
Erring on the side of starting too small is good advice, too, but what about “Don’t disrupt”? He laments that the concept of disruption has degenerated into anything posing as trendy and new. Granted. But wouldn’t it be better to simply reject the popular definition? He could then reaffirm Clay Christensen’s original epiphany in The Innovator’s Solution—the observation that established products can be upended by cheaper or inferior solutions that don’t at first appear to be threats but that then later grow into established products themselves. Christensen was the one who first mapped the road to Monopolyville. Couldn’t Thiel give him the credit?
In a sweeping generalization, he claims that Silicon Valley engineers are expected to “listen to what customers say they want” and give it to them. Really? I’ve worked there for 35 years and have rarely heard this, except from a few old-school marketers. Even the designers at Apple start with a “minimum viable product” and iterate their way to success. They just do it before they go to market instead of after, so their products seem to spring fully formed from the brow of Tim Cook or Jony Ives.
Thiel has said that one of the book’s most valuable contributions is the notion that a monopoly is based on a secret. This is actually a great way to think about it. An interesting fact about such secrets is that they tend to stay secrets long after you tell everyone. If an idea is good enough, goes the saying, you’ll have to ram it down people’s throats. Think about the Aeron chair, the Prius, and even PayPal. None of these businesses launched itself.
Thiel’s rule that the CEO of a startup should never receive more than $150,000 in salary is nice and concrete, and it’s too bad more CEOs of incumbent monopolies can’t set such an example, as Jobs did with his annual salary of $1. What message does an eight-figure salary send to the employee whose innovative ideas are consistently called too risky?
Finally, are successful monopolists always contradictory characters? Not from where I sit. Warren Buffett, Bill Gates, and Jeff Bezos don’t strike me as particularly contradictory, although I’m sure they’re more driven than they might appear. It could be that Peter Thiel himself is a walking contradiction and therefore wants to create some positive context for it. He delights in courting controversy, starting at Stanford when he attacked various sacred cows such as political correctness and hate-speech laws in his newspaper The Stanford Review, and now by writing a book that appears to defend monopolists.
Despite its exaggerations and pirated ideas—or maybe because of them—Zero to One makes for a lively read. It contains a number of refreshing insights and personal truths that you won’t get from other books on inventing the next big thing. Just keep the baby and throw out the bath water.
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b86b9920d074302226808e000dc1345b
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https://www.forbes.com/sites/forbesleadershipforum/2014/11/13/smart-cities-will-need-smart-leaders-and-even-smarter-citizens/
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Smart Cities Will Need Smart Leaders and Even Smarter Citizens
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Smart Cities Will Need Smart Leaders and Even Smarter Citizens
This article is by Mike Steep, senior vice president of global business operations at PARC and distinguished visiting scholar at Stanford University.
David Gann keeps bees. But he’s so severely allergic to their sting that his wife has to keep an EpiPen handy. Regaling us with stories of the bees, Gann, vice-president of Imperial College London, unwinds after our Palo Alto panel discussion in traditional British fashion, with a pint.
His passion for beekeeping is obvious. Back home in England he has planted a garden he knows will suit the bees. He also knows what kinds of flowers his neighbors grow and where the bees are likely to head when they leave his yard. In other words, he has carefully cultivated a system in which the insects can thrive and produce. Did I mention that he is also the chair of the Smart London board for the London mayor’s office? He’s the guy tapped to orchestrate the transformation of Europe’s largest city into a Smart City.
Earlier in the evening, the Churchill Club had hosted a panel discussion on Smart Cities, "Cities and the Digital Frontier." The panel included Gann; Jay Mezher, director of virtual design and construction at Parsons Brinkerhoff; Katharine Frase, vice president and chief technology officer, IBM Public Sector; and me. Michael Chui, a principal at McKinsey Global Institute, moderated.
From left: Michael Chui, Katharine Frase, David Gann, Jay Mezher, and Mike Steep.
Whenever Smart Cities are discussed, there's always a lot of focus on the kind of gee-whiz, futuristic technologies we were promised way back in The Jetsons. London is already experimenting with frictionless payment methods that would allow you to load credits onto your smartphone and simply stroll onto public transit. No need even to remove the device from your pocket or purse. Near field communication will pick up the signal and automatically deduct the fare from your account. No queuing up to buy tickets or load a transit card. That means more efficient travel for you and lower costs for the operator. That's a paradigmatic example of the kind of utopian promise we’ve come to expect from smart technologies.
But after more than a decade of discussion and active implementation of Smart City initiatives, questions about the nature of human interactions in systems, both subtle and fundamental, are beginning to emerge. What does it really mean to be an engaged citizen in the new landscape of technology? What are the roles and responsibilities of leaders? Michael Chui, in his opening remarks, revealed that just sustaining the projected urbanization in the coming decades will require more than $1 trillion in capital expenditure for infrastructure. Because the scale of change is so massive, it’s easy to miss where the real inflection point lies—with people.
Creating new infrastructure requires budgeting, planning, negotiating, and having a fairly sophisticated understanding of the behaviors of the constituents you intend to serve. Each of those tasks may be aided by technology, but you can’t get around dealing with humans. Collecting data turns out to be the easy part. Sharing it and finding ways to make it useful for people are the real challenges. As Katharine Frase noted, even sharing data among government departments isn’t a given. “If you go to somebody in a city agency and you say, ‘Could you make a better decision if you could see some of the information from the department next door?’ The answer is almost always yes. Great. The natural next question is, ‘And will you share information with him?’ And the answer is almost never yes.”
Once data is freed, how it’s shared matters a lot. Routine train schedules garner more engagement when feedback from the people who use them every day is taken into account. “We found that people didn’t just want the statement of data, they wanted the pictogram to see the train on their device coming toward the station,” according to Gann. “It gave them more confidence that the data was real.”
Jay Mezher’s company made similar observations. Parsons Brinckerhoff creates 3D models of city infrastructure for planning projects. Mezher discovered that he got better, more collaborative decisions when people could see and understand the data in a visual way. “Once you share this information in a really simplified and easy manner, everyone will provide you with meaningful input.” Another virtue of Mezher’s models is that they allow people to see cities for what they really are—layers of data. As I mentioned in a previous article, people move through levels of a city. They take the subway, stroll through parks, and enjoy the view from rooftops gardens. The most relevant solutions will account for this mobility and integrate our experiences across the layers.
The implications for a new breed of smart leader are clear: Embrace technology, and include citizens in your decisions. Chui observed, “More than ever you have to understand the motivations of people. And even things like behavioral economics—people aren’t just robotic, rational actors. There’s no way to lead people without understanding that.”
The call to citizens is equally clear: Engage. London values citizen feedback and interaction so much it created the London Datastore, an open portal designed to display multiple data sets in ways that are easy for citizens to consume. “This isn’t just about public transparency,” says Gann. “It’s about an opportunity to create services from that data. And I think that’s going to encourage us to actually put more types of data on there.” City leaders know that how people respond to the information is another crucial form of data.
Like beekeepers, we’re all actors in the system responding to and using the data at hand. We are part of what makes the city smart. True citizen engagement is about anticipating issues and working to become part of the solution. Sensors can supply the data, but it will be up to each of us to use it to make our cities responsive and more livable.
Our sincere thanks to Karen Tucker, chief executive of the Churchill Club, for putting together an outstanding event. You can enjoy the entire panel discussion in the video below.
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8a91dee325039ab00b4acf13117fab82
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https://www.forbes.com/sites/forbesleadershipforum/2015/04/08/stockholm-bias-its-not-quite-stockholm-syndrome-but-it-affects-all-of-us/
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Stockholm Bias: It's Not Quite Stockholm Syndrome, But It Affects All of Us
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Stockholm Bias: It's Not Quite Stockholm Syndrome, But It Affects All of Us
This article is by Eyal Winter, Silverzweig professor of economics at the Hebrew University of Jerusalem and author of Feeling Smart: Why Our Emotions Are More Rational Than We Think.
My father, Hans Winter, was a Jewish kid in pre-Nazi Germany who ran for his life to Palestine a year after Hitler took power. Until his last day, he considered the word Nazi to be synonymous with ultimate evil, yet when I asked him about his schoolteachers during that period he would be overcome with nostalgia and romanticism. When pressed, he would admit that most of his teachers supported the Nazi party, and would even describe the parades they organized and the Nazi songs he was forced to sing along with the rest of the class, even before Hitler took power. When noticing my astonishment, he often argued, "Yes, they were Nazis, but they treated me well." My father was not comfortable talking about it, and he appeared quite embarrassed as he wiped the small tear that ran slowly down his cheek. I believe he was affected by what I call Stockholm bias, a mild version of the better-known Stockholm syndrome.
On August 23, 1973, a group of burglars entered and commandeered a Kreditbanken bank branch in Norrmalmstorg Square in Stockholm. Over the next five days, several bank employees were held hostage in a vault by the burglars, who eventually surrendered to the authorities. What happened next was very peculiar. Most of the bank employees who had undergone the nightmare of captivity expressed support and sympathy for the hostage takers in press interviews. Some even offered to serve as character witnesses for the defense in the subsequent trial. The event prompted psychologists and psychiatrists to identify a new psychological phenomenon they called Stockholm syndrome.
Stockholm syndrome is an excellent example of what are called rational emotions. A hostage who develops empathy for his hostage taker substantially increases the chances that he'll survive the ordeal. A genuine empathy is safer and more effective than a fabricated one, but it may persist even after the hostage has been released. Stockholm bias is a mild version of the syndrome, and most of us experience it on an almost daily basis. Its most prominent occurrence is in the workplace, where we interact with peers, bosses, and subordinates.
When the balance of power is especially unfavorable for us, our emotional mechanism cooperates with our cognitive mechanism to moderate our feelings of insult and anger. This is again a rational behavior, which in proper measure can reduce potentially damaging friction. In extreme situations, however—for instance with battered women—that same behavioral pattern can be extremely detrimental to us.
Our emotional mechanism also exaggerates the extent to which we feel gratitude toward figures of authority when they make small and insignificant positive gestures. This can lead us to attach too much importance to such gestures and to develop unsubstantiated trust in the kindness and decency of the authority figures—precisely as happened to my dad with his Nazi teachers. The success of the good cop/bad cop tactic of interrogating police suspects builds precisely on the same human weakness: After the bad cop has played his part and failed to elicit a confession, the good cop suddenly appears, like an angel who has the suspect’s best interests at heart, offering coffee or cigarettes.
The most likely circumstance to elicit Stockholm bias is our relationship with our boss. The benign effect of this bias is, say, the fact that a joke told by our boss in a relaxed meeting generates more laughter than a similar joke told by one of our peers. But the bias can easily be harmful. A disillusion about our relationship with the boss can take its toll later down the road, when reality forces itself into our consciousness in the form of a denied promotion or a denied pay raise. Overlooking offensive behavior by our boss may encourage such behavior in the future, damage our status among our peers, and even affect our mental health.
Heinz Leymann, a pioneer Swedish researcher on workplace bullying, estimated in 1992 that one out of seven adult suicides in Sweden was a result of workplace bullying. In a 2014 survey of 1,000 U.S. employees by the Workplace Bullying Institute, 72% reported witnessing workplace bullying, and 27% had been personally and directly affected by bullying (mostly by their bosses). But the most interesting and alarming finding of this survey provides clear evidence of Stockholm bias: 72% of those questioned denied, discounted, encouraged, rationalized, or defended bullying in the workplace.
Can we protect ourselves from Stockholm bias? The first question here should be whether we necessarily should. If we like our boss in spite of his or her failure to reciprocate with similar sympathy, and we wish to avoid conflict, then Stockholm bias can be a blessing. The only alternative to avoiding a conflict might be letting insult and anger eat at us from the inside. But wanting to avoid even mild conflict at all costs is rare and extreme. In most cases, when we experience Stockholm bias we would be better off correcting it toward reality and dealing with it. Several detection strategies present themselves:
1. Get help from peers. They should be able to offer a more objective and unbiased assessment of the boss's behavior and of the overall relationship. Even when a peer has not witnessed your discussions with the boss, a brief description together with his or her acquaintance with the parties involved will allow the peer to interpret the interaction more realistically than you can.
2. If you work in a hierarchical organization and have a boss, you are also likely to have a subordinate who might be Stockholm-biased toward you. If you realize (often in retrospect) that you have displayed offensive behavior toward your subordinate, this may be an indication of a "bully ball" that rolls down the rungs of the hierarchical ladder, causing each worker who is frustrated about his or her boss's bullying to adopt a similar behavior toward his or her subordinate.
3. Often our own behavior can show us things we aren't aware of. If you feel miserable on Sunday evenings thinking about your work week, or if you try to avoid seeing your boss, don't immediately conclude that the problem is with you.
Stockholm bias is one of many examples of our rationality shaping our emotional state. But often when emotions take over we tend to leave rationality behind. To avoid the grim consequences of this bias we ought to make sure that our rational brain and our emotional one always walk hand in hand.
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3174f6f610ccd2068a79236909c0dfeb
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https://www.forbes.com/sites/forbesleadershipforum/2015/04/24/winston-churchills-terrible-leadership-failure/
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Winston Churchill's Terrible Leadership Failure
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Winston Churchill's Terrible Leadership Failure
This article is by Dean Williams, a lecturer at the Harvard Kennedy School and author of Leadership for a Fractured World: How to Cross Boundaries, Build Bridges, and Lead Change.
Winston Churchill is often hailed as the model of a great leader, but a hundred years ago this month, in the early days of World War I, his leadership was dreadful. As Britain’s lord of admiralty (secretary of the navy), he made the fateful decision to attack Turkey on its Dardanelles coast, specifically at Gallipoli. The eight-and-a-half-month-long battle involved a total of about a million men on both sides, of whom nearly one half became casualties. The failed campaign led to the humiliation of the British. Churchill was dismissed from his cabinet position, excluded from the War Council, and allowed no hand in the further conduct and administration of the war.
A monument to Churchill in London. Getty Images
Gallipoli has become an enduring symbol of the worst kind of military folly and waste. Even Churchill considered it the greatest tragedy of his political career. “Looking back, with after-knowledge and increasing years,” he later wrote, “I seem to have been too ready to undertake tasks which were hazardous or even forlorn.” His wife, Clementine, would later tell a biographer that, given the burden of this failure, she thought Winston “would die of grief.”
Why did Churchill fail to provide adequate leadership in this critical situation? What did he miss? What went wrong?
When it came to dealing with this leadership challenge, Churchill was pig-headed. His stubborn attachment to his own point of view, coupled with a can-do attitude that verged on the hubristic, led him to ignore, discount and distort vital data. He forcefully imposed his strategy and did not give ample space for dissenting voices to challenge his assumptions, express their views, or explore alternative strategies. The merits of his plan seemed completely self-evident to him, and he was hell-bent on seeing that his strategy prevailed.
The primary person that he failed to listen to was the head of the Royal Navy, first lord of the sea, 74-year-old Admiral John Fisher. Fisher told Churchill his plan was doomed to failure and moreover fraught with possibilities of disaster utterly incommensurate with any advantage that could be obtained from the plan. Not only did Churchill spurn Fisher’s counsel, he took steps to ensure that Fisher’s perspective would never be considered by the War Cabinet. Fisher decided to resign in protest, telling Churchill, “You are bent on forcing the Dardanelles and nothing will turn you from it—nothing. I know you so well!”
The prime minister, Lord Asquith, was under the impression that Churchill was consulting with all the relevant parties, making the best use of his advisers, and bringing their recommendations to the War Council. He also believed, based on what Churchill had told him, that the war would be over by Christmas. It continued for another three years.
Churchill’s lack of leadership during this period had serious consequences in that thousands of young men from Britain, Australia and New Zealand died needlessly. I acknowledge that I am biased in this matter, as my grandfather fought as an Australian at Gallipoli and was lucky to survive. Australia, being just a young country at the time, lost a significant portion of its male population, and those who returned were deeply scarred, emotionally and physically. Each year on April 25 the Australian people are reminded of this tragedy as they remember the heroism of their soldiers. Very few realize the nature and extent of Winston Churchill’s role in the mismanagement of the affair.
Churchill failed from the beginning to understand how to operate as a civilian minister with his military advisers. He allowed his own opinions on the problem to be given greater weight and credibility than the professionals whose job it was to provide the knowledge and expertise to attend directly to the specifics of the challenge.
Politicians make errors all the time. Nevertheless, in times of great danger a particular kind of leadership is required that is more sensible, responsible and inclusive than what one might provide during a time of peace or relative calm. In a time of crisis, too much is at stake for one individual to unilaterally determine the best course of action. Certainly, someone needs to take charge, but as we learn from Churchill’s experience—and from that of George Bush and his team as pertains to Iraq and Afghanistan—given cognitive, ideological and cultural biases, it is easy to make serious errors of judgment that can have dire consequences in terms of loss of resources, loss of life and even loss of wars. No doubt Churchill learned something from his errors, for he later redeemed himself as prime minister during World War II, providing leadership that was nothing short of outstanding.
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b5af676bf900ffb6bb17b3d6852a5f0f
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https://www.forbes.com/sites/forbesleadershipforum/2015/10/02/mentorship-vs-sponsorship-and-how-to-maximize-both/
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Mentorship vs. Sponsorship, And How To Maximize Both
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Mentorship vs. Sponsorship, And How To Maximize Both
This article is by Louise Pentland, senior vice president, general counsel, and company secretary at PayPal.
It’s important sometimes to take a moment and look back at what you’ve learned and how you’ve grown. When I started my career I had no idea that I would join a company at an entry-level position and 10 years later become its chief legal officer, eventually moving over to my current role as general counsel at PayPal. Much of this success was built on my own hard work, but I could never have done it without my many mentors and sponsors. I have had both mentors and sponsors throughout my career, and their guidance has had an immense impact on where I am today. Mentors and sponsors serve different purposes, but their end goal is the same: to support you in achieving your goals.
You won’t always know who your sponsors are, but they are people who will advocate for you in the workplace when you need to be more visible. The totality of your legacy relates to your perceived success in a corporation, so you should actively make an effort to build relationships and prove your value-add to your company. It is important to be thoughtful about networking, because hiring decisions are made based on awareness of your contributions to the team and, like it or not, hearsay. You never know who will act as your sponsor, and that the right people will recognize your hard work.
Playing a slightly different role, a mentor is a source of guidance and advice, though not necessarily a coach or an advocate. There are multiple ways to seek them out. There are deliberate matching programs, like those we have at PayPal, there are external mentors, and there are people you find along the way who you beg to be your mentor. I’ve done all of these, with both successes and failures, and the common thread through all of my most successful mentorships has been that my mentor and I had a friendship first. It’s difficult to ask someone to be your mentor if they don’t know who you are, because a mentorship needs to be about connection, chemistry, and trust.
It’s not often talked about, but mentors don’t have to last forever. I've had five or six in the past 20 years, and each one supported me through a different phase of my career. My current mentor was the chief marketing officer at my previous company and worked before that at Verizon and on the Obama campaign. She has been there, done that, and when she thinks that I am wrong she always has the confidence to tell me, no sugar-coating. She has been the most helpful in terms of figuring out how to evolve my career as a working mother and how to move over to PayPal after 20 years at my previous company.
What I have learned from being a mentor myself is that mentorship is a two-way street. You give and you take, and you have to recognize what you want out of the relationship. I have tried to mentor people who have shown up and said, “What can you give me?,” with no purpose for our relationship. Although those mentorships have not typically worked out, I have had many successful mentee relationships. My mentees span across industries and are all at different phases of their careers. I guide them however I can, whether it be helping navigate office politics or working with them to request higher pay or a promotion.
Both mentors and sponsors are important in maximizing career growth, and some of my most valuable relationships have been formed with my mentors and mentees. Not only will sponsors and mentors believe in your potential when you are doubting yourself, but they will champion your successes, to open doors for your next big career move.
Also on Forbes:
Gallery: What I Learned From My Mentor 10 images View gallery
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4bd1b68ffa7fd6a4dc9650f9f3d837a5
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https://www.forbes.com/sites/forbesleadershipforum/2017/12/01/how-to-create-your-own-fake-russian/
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How To Create Your Own Fake Russian
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How To Create Your Own Fake Russian
Saint Basil's Cathedral — Moscow, Russia
This article is by Nathan Pettijohn, a talent manager, producer and digital strategist who is also CEO at Cordurouy.
If you follow me on social media, you might have noticed that I've recently liked and shared a few articles by someone named Ivan Stravensky. A graduate of the art history masters program at the University of Bristol, Ivan mostly writes essays on poetry and philosophy. According to his Twitter profile, he’s an avid amateur pianist; his Instagram is full of loving snapshots of keyboards and baby grands. Perhaps you’ve seen or liked one of his posts yourself. He posted one of his essays to the Philosophy subreddit and got more than 900 upvotes and 120 comments within a few hours, which got his Medium blog more than 20,000 views overnight. Online, at least, Ivan is a pretty talented and popular guy.
Here’s the thing: Ivan doesn’t exist.
I hastily concocted Ivan’s name and scribbled his background on my notepad during a slow Sunday in September. With Russian election interference in the news, it seemed appropriate to make him a Russian—but which Russian? I decided to name Ivan for the composer Igor Stravinsky, who is often credited with coming up with the much-quoted expression, “A good composer does not imitate, he steals.” Which again seemed appropriate.
I took a screenshot of the actor Mads Mikkelsen from the 2009 film Coco Chanel & Igor Stravinsky to use as Ivan’s avatar, gave Ivan a passion for piano to match his namesake’s, and then I was ready to go. I set up Ivan’s social media accounts in the same sitting. That was September 22, 2017. Here’s where his follower counts are at now: Facebook: 8,200 friends; Twitter: 2,400 followers; Instagram: 13,000; LinkedIn: 3,200; Medium: 514. Around 27,000 total friends or followers so far.
At first glance, this might not seem like a lot. Many would consider “influencer” status as having at least 100,000 followers. With 27,000 followers, Ivan is still at a micro-micro level on every platform, but unlike most users with only hundreds or thousands of followers, I can guarantee that his reach can continue to show hockey-stick-shaped growth metrics month over month. Why? Because I’ve applied some of the same tactics I use to help my actual human clients extend their social influence and reach; get them more likes, views, clicks and downloads; and shape what pops up in search results when you Google them.
Sure, Ivan didn’t steal anyone’s identity. He doesn’t have a driver’s license. He hasn’t posted anything rude or controversial or done anything sinister. Ivan has mostly just shared philosophy essays and news about classical music. But you could imagine how easily a fake person like him, one with a strong social media presence, could rile up controversy or be a convincing voice in the online conversation—much like fictional Pennsylvanian Melvin Redick, which was one of the first Russian-created fake accounts to post anti-Clinton propaganda to Facebook in 2016. There’s more commonalities than you’d think between online advertising and the spread of fake news, and I created Ivan in part to explore them.
But what goes into making an Ivan (or a Melvin, for that matter)? And what exactly can you do with them once they’re made?
How to make your own fake Russian
1. Pick the right name. An ideal fake online person has a unique name, so he or she won’t have to fight with real people (or other fakes) for internet real estate. When I came up with Ivan’s name, I typed “Ivan Stravensky” into Namechk to make sure it was available on most platforms, which it was.
Then I bought ivanstravensky.com and set it to redirect to his Medium blog.
2. Automate interactions. I set up Ivan’s Twitter account so that if you follow @IvanStravensky you'll get an auto-reply from him thanking you for following him, along with a link to his LinkedIn profile and an invitation to also connect there. There's a simple bot running on his Twitter account that is following and unfollowing accounts that include descriptions such as #arthistory or #pianist. This is all happening in the background and growing both his LinkedIn and Twitter numbers on autopilot. His follow-back ratio on #arthistory is at 6.75% so far.
I use another bot on Ivan's LinkedIn that will send messages, endorse contacts and invite people to connect based on any search criteria or message I enter. Notice how many people have already endorsed him back for certain skills or liked his blog posts based on his activity rather than his tangible figure. He has 3,200 LinkedIn followers and that number is growing steadily.
3. Beware of fake followers (mostly). When you’re automating your follows, you want to make sure that the people you’re following are of a certain engagement rate. Followers that have zero posts and zero followers look fake, and if platforms detect even one such fake following you, their algorithms will make your content rank lower in feeds and your engagement rate will suffer. Conversely, if your followers all have decent engagement rates, your content will show up higher in more feeds and might even begin showing up in “who to follow” lists, which would then increase your numbers exponentially.
4. Don’t be afraid to spend a little money. Online, building a community of true fans is all that matters, but psychologically it can sometimes help expand an audience if it looks like you already have a thriving community they can join. That might mean buying a few followers to get things started. On Instagram I bought fake followers (despite reasons not to listed above) from a third-party site in order to get him to 13,000 followers. (I wouldn’t buy fake likes on any of my real client accounts, but Ivan has been his own special project, which is why his most recent blog has about 700 retweets.)
On Facebook I was able to buy media efficiently enough through the Facebook Ads platform to cheaply get the page to 8,000 fans so far. You can reach real people with paid media, and in many cases you have to in order to reach people beyond your existing “friends of fans” audience.
5. Create (or steal) great content. Ivan’s blog articles have been solid, which has made all the difference. I was given permission from a friend of mine, Jacob Stump, to repurpose his essays from college, so I had the advantage of starting with quality original content and then incorporating various marketing and growth hacking tactics to get them shared. The 500-plus followers and all the claps on Ivan’s Medium blog are organic—because the posts themselves are actually good! As usual, content is king, and tactics are just tactics. It would have been just as reasonable if I’d filmed close-ups of a talented musician playing Stravinsky and then promoted a YouTube channel called “Stravensky on Stravinsky” or had Ivan write guest blogs on other sites or combined his blogs to create an ebook.
6. Tap into existing audiences. Here’s a place I haven’t taken the Ivan project yet. Ultimately, the best way to grow Ivan’s audience (or anyone’s) would be to tap into existing audiences through partnerships. If I were to create the aforementioned “Stravensky on Stravinsky” YouTube channel and Snoop Dogg tweeted a link to it, that kind of stamp of approval would grow Ivan’s numbers far faster than any other tactic. Finding intersecting audience interests is key, like a Venn diagram with spheres of influence. That makes way more sense than just buying your way to two million fans with ads or bots alone. But the fact that you can do so much with bots—and a carefully crafted fake name—is worth being cognizant of.
And why would you do this?
If I’d kept Ivan a secret project, I could have gone further. I could have had him contribute to guest blogs or be a source to services like Help A Reporter to get quotes from him published in reputable news sources over the coming months. Then I could have used those publication credits to establish even more credibility for Ivan (by citing those articles in creating a Wikipedia page about him, for instance). There are no claims that Russian fake accounts have gone that far, but how would you even know?
I’m not just here to spread doom and gloom about fake news, however. These tactics aren’t only relevant if you want to swing a foreign election or build influence for yourself online. You can find value here from a marketing perspective just as easily.
Most of Ivan’s connections on LinkedIn are philosophers or have “art history” in their title, and I mostly focused his outreach in the United Kingdom. Let’s say that now that he has 3,200 LinkedIn connections, I can click export here and get a csv file of names and emails of those art history and philosophy folks in the U.K. There’s a lot you can do with such specific email lists. Maybe I want to sell products to them or have them take a survey to help me decide something. I can use Facebook ads or Survey Monkey and target them without ever actually sending them an email or letting them know how or why I collected their information.
I could just as easily have created another profile named Sara Huntington, a chief financial officer in Des Moines, Iowa, and then had Sara connect with specific groups of finance professionals (such as other CFOs of mid-level companies in the U.S.). Next, I could have had her share opinions about the industry and then grown her reach in the same way I have for Ivan (as long as I had a bank of high-quality content or opinions for her to share). By growing and exporting that specific email list, I could then utilize my email list of CFOs of mid-level companies in the U.S. for whatever campaigns I dreamed up. #fakefinancenews
With a few interns, anyone could easily be managing more than a hundred accounts like this with little effort, building spheres of influence based on a number of factors and saving that data to create segmented targeting lists of all sorts. In fact, I’d be surprised if there wasn’t someone out there doing exactly this today.
The bots are here to stay
The fact that these characters are out there influencing opinion is not a new phenomenon. As seen in this episode of “Escape and Control” about Twitter bots from six years ago, much earlier and simpler bots could already dramatically affect how a network or community interacts. Facebook now estimates there could be more than 60 million fake profiles on its site alone. The reality is that fakes aren’t going away anytime soon. They’re simply too fun, too useful, too easy to make.
It took me about 10 minutes to set up Ivan, and maintaining him currently takes me less than 10 minutes a week. I’ve spent under $300 all told to keep him growing to this point. The only reason he may now get flagged and removed from some sites is because of my candor in sharing this info here. The fact is that Ivan isn’t the only fake guy out there. He’s just the one I told you about.
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be6a212644669a261ebefee6dd82c37b
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https://www.forbes.com/sites/forbeslegalcouncil/2016/04/07/five-important-things-to-look-for-in-a-new-attorney/
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Five Important Things To Consider Before Hiring An Attorney
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Five Important Things To Consider Before Hiring An Attorney
Selecting the right attorney to represent your business is a big commitment. Many factors differentiate one attorney from the next, from knowledge of your industry to how you'll be billed. And don't forget personality -- that matters too. Factors like these can help you decide which firm is the perfect fit for both you and your company.
Below, five chief legal officers and law firm partners from Forbes Legal Council highlight the most important considerations to weigh before making your final decision.
Clockwise from top left: Dan Hussain, Neil Lerner, Matthew Moisan, Doug Bend, Anthony Johnson. All photos courtesy of the individual member.
1. A Strong Track Record of Integration Identify legal experts who have experience in your field. Success is not just a matter of knowing the law relative to a given business model, but integrating that understanding into review procedures, products and people. – Dan Hussain, American Patent Agency 2. Someone Who Understands Your Business Look for a lawyer who understands your business, is an effective communicator and gives advice that is targeted to the issue at hand. – Neil Lerner, Cox, Wootton, Lerner, Griffin & Hansen LLP 3. Personality Find a lawyer that you like -- plain and simple. The lawyer's job is to not only protect you but also manage the anxiety that accompanies whatever transaction you are undertaking. If you don't like your lawyer, he or she cannot do this effectively. – Matthew Moisan, Moisan Legal PC 4. Alternative Billing Structures Some attorneys are willing to offer alternative billing structures, such as flat rates or a cap on the amount they charge for a project. For example, if they typically take three to five hours to set up a corporation, they might agree to a cap of not more than fives times their hourly rate. Having a flat rate or a cost cap can be key in helping you prevent surprise legal bills. – Doug Bend, Bend Law Group, PC Forbes Legal Council is an invitation-only community for partners of prestigious law firms and experienced chief legal executives. Do I qualify? 5. Someone Who Can Talk Business So often, attorneys are singular in that they know the law, but not much else. Attorneys tend to hedge their advice towards risk aversion. However, many times, the cost to prevent certain risks is actually too high from a business perspective. Find an attorney that can and will present both sides of that equation. In the end, it's your company and your decision to make -- not your attorney's. – Anthony Johnson, Johnson & Vines, PLLC The information provided here is not legal advice and does not purport to be a substitute for advice of counsel on any specific matter. For legal advice, you should consult with an attorney concerning your specific situation.
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cf7639e4f949128950001843c3a1e0b2
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https://www.forbes.com/sites/forbeslegalcouncil/2016/11/10/the-future-of-the-legal-industry/
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The Future Of The Legal Industry
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The Future Of The Legal Industry
From automation to concierge-level support of clients, the legal industry is changing, and changing fast. In the last several years, employment opportunities have fluctuated, with the number of legal jobs pre-recession still down by 55,000.
We asked three prominent leaders in the field to comment on where they see the legal industry going. Peter Prestley, for instance, talks of new competition brought on by technology and the need for creativity. Jeff Unger outlines three major shifts he believes will shape the industry, including the diminishment of hourly rates. And finally, Joshua Lenon sheds light on what an aging population of lawyers means and the rise of alternative dispute technologies.
Through these glimpses of what the future may hold, we can better understand how the legal industry is evolving so as to evolve with it rather than fall behind.
Peter Prestley, Partner at Madsen, Prestley & Parenteau LLC:
Technology Is Leading To Greater Democratization Of The Industry
Within recent memory, lawyers were the prime sources of legal knowledge and services. Law firms, government entities, corporations, nonprofits and others accessed legal resources appropriate to their needs and their means principally from ‘their lawyers.’ The providers of these services enjoyed a monopoly guaranteed by the system, with competition centered principally within various legal sectors.
Today, we see technology changing traditional ways of providing legal services. This has led to greater democratization of the ‘industry,’ and introduced new competition and continual searching for better and more efficient ways of providing legal services. These trends promise to continue as legal resources and intelligence become increasingly accessible through various technological advances.
This will lead to relentless changes in configurations and reconfigurations of legal services providers, featuring ‘just-in-time’ inventories of legal services and legal providers, increased reliance on non-lawyers, more virtual resourcing, and new financing systems such as insurance for legal services. What will not change is the importance of good judgment and creativity, which now will need to be utilized to continually reinvent to stay cutting edge, as well as to assure that quality does not give way to commoditization.
Forbes Legal Council is an invitation-only community for partners of prestigious law firms and experienced chief legal executives. Do I qualify?
Jeff Unger, Founder and CEO of eMinutes:
Expect Law Firms Of The Future To Keep An Eye On The Past
Thriving law firms of the future will bring back old-fashioned customer service. Picture this: attorneys devoting individual attention to their clients, no hourly rates, no administrative delays—all while being profitable. Technology makes it all possible.
Tech systems in the legal industry will trigger radical shifts in priorities. Law firms that invest heavily in tech will experience tremendous freedom from time and cost constraints.
We’ve witnessed the rising popularity of legal tech startups like LegalZoom and Rocket Lawyer. Now we understand the market better. People want subscription pricing and fast, user-friendly service. Law firms that provide those features in addition to their personalized legal expertise will have the competitive advantage. They will prove that affordability is not limited to online templates. In the end, these law firms will rise to the top.
In the next decade, law firms will undergo three major shifts:
Business focus: The problem that holds many small and mid-size law practices is management’s failure to run the firm like a business. Technology will allow firms to adapt to changes in the market, constantly improve efficiency, and track new success metrics. Subscription pricing: The traditional model of hourly rates starting at several hundred dollars is no longer viable. Price-conscious business owners feel uneasy knowing a simple legal transaction could cost thousands of dollars. Law firms will gradually move toward flat rate subscription pricing. Staffing: As law firms strengthen their role as enterprise organizations, new positions will join the ranks alongside attorneys. Law firms will employ coders to manage their tech systems and customer satisfaction managers to provide concierge-level attention to clients.
Joshua Lenon, Lawyer in Residence at Clio:
Automation Leaves Little Room For Those Who Don't Adapt
I see two trends affecting the practice of law in both the short and long terms. The first trend is the “graying of the bar,” the increasing average age of practicing lawyers. The second trend is the investment by the public and government into alternative dispute technologies. Both trends actually feed into the other.
Demographic studies show that the average age of a practicing lawyer increases with every year. The Lawyer Statistical Report prepared by the American Bar Foundation has tracked this rising age over time. According to the report, 25 percent of the lawyer population was 55 and older in 1980. By 2005, the percentage increased to 34 percent. Likewise, the median age of lawyers increased during that time period, from 39 to 49 years old. In California, a third of state's 169,178 active attorneys are older than 55, and 21 percent are older than 60, according to the State Bar of California.
These aging lawyers do great work. However, they have made it difficult for young lawyers to enter the legal profession. Entry-level positions are rare due to decreased hiring. Associates are taking longer to advance into partnership. New solo lawyers struggle to obtain enough business to start their own law firms. Older lawyers have pulled the ladder up behind themselves, controlling who provides legal services. This has led to emerging access to justice problems, like the lack of legal representation in rural communities.
With older lawyers focusing on their own interests, there’s been rising investment in alternatives to traditional dispute resolution through courts. Whether private sector offerings, like the DoNotPay bot, or government offerings, like the British Columbia Civil Resolution Tribunal, legal disputes are moving toward automated, online systems. This trend helps meet the needs of a middle class that cannot afford the services of graying lawyers, while also extending access to justice into underserved areas. As more investment happens into automated tribunals, there will be less business available for the aging pool of lawyers, creating further contractions in legal employment.
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2852b38b4b45a1182adc389b6c6e70f3
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https://www.forbes.com/sites/forbeslegalcouncil/2017/03/09/five-ways-lawyers-can-add-value-to-their-client-relationships/
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Five Ways Lawyers Can Add Value To Their Client Relationships
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Five Ways Lawyers Can Add Value To Their Client Relationships
The relationship between a lawyer and a client is built on trust and communication. But sometimes, lawyers forget the importance of holding up their end of the bargain, which may lead to a lost client and an overall mistrust in the firm's capabilities.
With this in mind, we asked five chief legal officers and law firm partners from Forbes Legal Council to discuss the ways you can add real value to your client relationships.
From top left to right: Doug Bend, Joshua Lenon, Lawrence Buckfire, Linda R. Evers, Victor Cardona. All photos courtesy of the individual member.
1. Leverage Trusted Referral Partners
When you refer a client to a trusted referral partner, you will add value to your relationship each time they interact. Of course, if you introduce your clients to professionals who are not responsive or who over bill your clients, it will damage your relationship. By making referrals with your client's best interests in mind, you will add value not only through your work but through the work of others. - Doug Bend, Bend Law Group, PC
2. Be Proactive
Don't wait for your clients to reach out to you. Be proactive in calling or communicating with them throughout your representation. Even if it's a simple status report, clients want to hear from their lawyers. - Joshua Lenon, Clio
3. Communicate Regularly With Your Clients
Regular contact with your clients goes a long way in strengthening your relationship. Clients want to know that you are working for them and thinking about their legal matters. If you are litigating a case, many months often go by without a major event. Send your client a short email or have an assistant call them with an update to assure them that you are staying on top of the case. - Lawrence Buckfire, Buckfire & Buckfire, P.C.
4. Ask Clients To Review Your Performance
Firms should meet with their clients annually to find out how they are doing. Consider it your annual review. Find out what you are doing well and what you do that irritates them. Parts of the conversation may be uncomfortable, but it's better to find out your blind spots before it's too late and you lose the client. When you take the time to listen, you will be positioned to provide value. - Linda R. Evers, Stevens & Lee
Forbes Legal Council is an invitation-only community for partners of prestigious law firms and experienced chief legal executives. Do I qualify?
5. Know Your Client And Their Business Challenges
Although an attorney is valued for their legal perspective and the number of times they can use "interalia, a priori and arguendo" on a page, his/her competence in these matters is assumed by the client. To be a trusted adviser and add value, an attorney needs to know their client's business challenges and opportunities and get to know them outside the client relationship. - Victor Cardona, Heslin Rothenberg Farley & Mesiti PC
The information provided here is not legal advice and does not purport to be a substitute for advice of counsel on any specific matter. For legal advice, you should consult with an attorney concerning your specific situation.
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15d94dc932fbbecee6e59691fa91f058
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https://www.forbes.com/sites/forbeslifestyle/2013/11/26/billionaire-george-soros-takes-top-honor-at-international-rescue-committee-benefit/
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Billionaire George Soros Takes Top Honor At International Rescue Committee Benefit
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Billionaire George Soros Takes Top Honor At International Rescue Committee Benefit
Gallery: Billionaire George Soros Wins IRC's Freedom Award 6 images View gallery
By Mehrunnisa Wani
Hunkered down in a basement in Damascus, Syria, with her husband and four sons, Bushra Naji, a now unemployed refugee from Iraq, had seemingly gone from a bad situation to a worse one. Which made her appearance at the International Rescue Committee's Freedom Award benefit at New York's Waldorf Astoria on November 6 all the more poignant.
Founded in 1933 at the behest of Albert Einstein, the IRC facilitates family reunification and asylum for the uprooted, including Naji, whom the organization helped bring to America five years ago. Operating in 40 countries and 22 cities throughout the United States, the IRC helps with resettlement and provides assistance with educational, health and job-training needs.
So while CBS anchor Scott Pelley, the annual benefit's emcee, kept things moving, and saxophonist Joshua Redman and pianist Aaron Goldberg provided lively entertainment for the 1,000 attendees, it was the honorees who were the real stars of the evening.
Among them was chef Viet Pham, who was born in a Vietnamese refugee camp in Malaysia in 1979. (He is now the spokesperson for the IRC's New Roots program, which helps refugees plant indigenous fruits and vegetables.) Former Secretary of State Madeleine Albright arrived in the United States in 1948 at age 11 after fleeing her native Czechoslovakia during World War II.
The night's headline honoree was yet another accomplished former refugee, hedge fund billionaire George Soros, who escaped from Hungary in 1946. He was lauded by Bill Clinton ("It's hard to think of any citizen of the world who would have done more to deserve the award," the former president said), his son Jonathan and United Nations Ambassador Samantha Power. "My first introduction to George was indirect," Power said. "I met [the late humanitarian] Fred Cuny and heard him describe how he and his patron George Soros were going to single-handedly break the siege of Sarajevo. Humble guys, I thought, modest in ambition. Little did I know."
Upon receiving the award (a photograph of Einstein taken by the late Fred Stein, an acclaimed photographer whom the IRC helped flee Nazi Germany), Soros somberly declared that Syria was a "glaring failure of international governance" and pressed the IRC to take action. The event raised $3.5 million to help. True to form, Soros immediately pledged $1 million.
------
The IRC'S major relief efforts
1946: Begins resettlement of East European refugees.
1954: Resettles Cambodians, Laotians and Vietnamese after French defeated at Dien Bien Phu.
1971: Provides support for 10 million East Pakistanis during Bangladesh's war
for independence.
2007: Aids some 4 million displaced Iraqis.
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8a1da9409f415da4ae28b2b3a7fb1332
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https://www.forbes.com/sites/forbesmarketplace/2016/01/20/why-youre-not-a-billionaire/
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Why You're Not A Billionaire
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Why You're Not A Billionaire
From "The Little Black Book Of Billionaire Secrets" by Will Meade & Bryan Rich Average investors make a number of mistakes that keep them poor. Much of it is due to a total lack of education and understanding of what investing is all about. The Wall Street marketing machine has led average investors to believe that active trading, hot stocks tips and predicting market direction is the golden ticket to wealth. In fact, it produces the exact opposite. Here are three mistakes made by individual investors that keep them from reaching billionaire status: MISTAKE # 1: THEY THINK THE STOCK MARKET IS A GOOD INVESTMENT Inexperienced investors think they should be able to buy at bottoms, sell at tops and make gobs of money. But that’s a highly difficult task. The long-run annualized return for the S&P 500 (including dividends) is 8%. And after fees, most professional mutual fund managers do not beat the S&P 500. Moreover, too many investors do not understand the risk they’re asked to take to achieve an 8% return. The volatility of stock market returns is best measured by looking at the dispersion of returns around the average return. This gives you a clue as to how much risk you have to endure to achieve your expected return. It’s called the standard deviation and is a good way to measure risk. The standard deviation of the S&P 500 is 19%. This means roughly 70% of the time, the S&P 500 should trade plus or minus 19% around its long-term average return. So if you use standard deviation as a gauge of risk, you’ll find that the broad stock market pays you only 1 unit of return for 2 units of risk taken. Take a look at these two hypothetical charts… Source: Billionaire’s Portfolio Both investments have an 8% average annual return. But Investment #1 has a wide range of returns, while Investment #2 has a stream of returns that more tightly hug the average annual return. If each of the points on the charts represents a monthly return and both investments achieve the same end result, which investment should you choose? The answer: Investment #2 — the one with the tighter distribution of returns since it gives you a higher probability of achieving a higher return. Here’s why: Your investment’s performance will largely depend on when you enter and when you exit. If you enter or exit at any given point along the path of Investment #2, the likelihood of success is greater than it would have been with Investment #1. So unless you think you can pick the exact bottom to enter and the exact top to exit, you’re far better off finding investments that have a tighter distribution of returns. The bottom line is, a buy and hold strategy in the broader stock market index just doesn’t compensate you for risk. It’s a bad investment. Stay away. MISTAKE # 2: OVERTRADING I know a lot of very rich people. And I know a lot of very successful investors. I can tell you this. None of them got rich day trading. In fact, not only can day trading be bad for your bank account, it can be bad for your health. There’s a study by a prestigious Australian University that says every hour you spend in front of a computer increases your risk of an early death by 11%. Think about that! The smartest and most successful investors think in terms of risk vs. reward, in EVERYTHING they do! A shortened life with less money is a bad trade – don’t do it. MISTAKE # 3: TRUSTING THE WRONG PEOPLE If you take away one thing from this book, remember this: Your financial advisor-stock broker is not your friend. I say this with utmost respect as my dad was a stock broker for 50 years. But let's be honest, stock brokers are not as valuable as they once were. Sure, 20 years ago when there wasn’t the Internet or smartphones, you had to call your broker to get a stock quote or make a trade. Today, you can get stock quotes, currency quotes and research on the Internet. So think twice before you hire a broker. Many investors are savvy enough to use an online brokerage account, which can cost you just $5 a trade. I don’t want to belabor this point, but think about this: the brokerage industry does not produce investment minds, it produces salesmen. My point is this: In many cases (I would estimate the majority of the cases) these people you trust with your money are not experienced or educated enough to watch over your money. Be aware of that. And keep in mind that brokers get paid regardless of whether your account goes up or down. Bottom line: Stay away from them and it will save you easily 2% to 4% in fees per year. On a $100,000 account, that’s as much as $4,000 more a year in your pocket. To download the complete FREE ebook, "The Little Black Book Of Billionaire Secrets", please click here.
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6cf6a8519323b797407b2cd54cbc30f3
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https://www.forbes.com/sites/forbesmarketplace/2016/06/30/travelling-with-your-boss-10-things-we-want-you-to-know/
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Travelling With Your Boss: 10 Things We Want You To Know
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Travelling With Your Boss: 10 Things We Want You To Know
Forbesfone: Keeping you connected in 220+ couontries, at low roaming rates worldwide
Where travelling is concerned, it’s very easy to adopt a more relaxed stance. It’s a break from routine and a chance to see and do something differently and it usually implies. However, as many business travellers can attest, it’s not the case when you’re travelling for work. Yes, it’s a break from routine – but that’s about it. Think of it as a temporary relocation of your office.
Another aspect which will change the usual travel dynamics is the opportunity to travel with your boss. Now, though some of you may argue that you have an excellent relationship with your boss, it’s the fact that you’re in a different environment coupled with the stresses and change in attitude this brings along, which might have an impact on how you behave and ultimately, on your relationship.
We’ve had a look at various experiences from seasoned business travellers and we came up with a list of things you should know, before you even show up at the airport.
Always be punctual
Or preferably, 10 minutes early. Be it at the airport, or before you leave the hotel in the morning, make sure you’re slightly earlier than planned so you never leave your boss waiting for you.
Be Organized
Your boss asks for a particular document? “I’ve got it right here. Made a couple of copies too just in case”. The time of a particular meeting? “Let me check… it’s at 3pm. Plenty of time to meet Mr Smith and have lunch”. Knowing your stuff and keeping tabs on the whole trip will definitely throw your approach to work in a positive light.
Forbesfone Tip: Data roaming access is fundamental for a successful business trip. Take a look at our data roaming plans. Our prepaid roaming SIM is the perfect solution for business travellers who wish to stay connected, without the need to go WiFi hunting. If that’s not enough to check us out, we also offer the best data roaming rates worldwide!
Wear appropriate clothes
Remember, you’re still going to work, even when the offices overlook beaches or are in the middle of shopping avenues. Pack office-sensible clothes which can be mixed and matched so you have a different outfit every day.
Keep an eye on discussion levels
Remember, this is still your boss. Some topics might be best avoided so you never risk getting in uncomfortable situations or awkward discussions. Have a ready “easy” topic at hand which you can switch to when you feel the need to escape certain questions or statements. It’s easy to slide in discussions which are usually off the radar, especially if you’re spending long hours sitting next to each other. Be friendly but steer clear of anything which is too personal.
Follow your Boss’ actions
If he shows inclinations to talk work, engage in it. If she’s showing signs that she’d like to relax, feel free to put on your eye mask and doze off. If he asks you what you feel like doing it’s the perfect time to ask any burning questions (business related, obviously) you might have.
Be ready to pay for certain things
Never assume everything will always be paid for. Get your own cash with you and although you don’t have to offer to pay your boss anything, it would be a nice gesture, if anything, to do so, especially if you decide to go for an informal lunch.
Keep an eye on the booze
Know your limits and don’t even get close, especially if you’re drinking on the plane where it has a stronger effect because of the pressurised air. If your boss is comfortable having 3 drinks, it doesn’t mean you should.
Take the time to discuss your responsibilities prior to your trip.
True organization can only be achieved if you know what is expected of you. Make sure you dedicate time to discuss what kind of duties you’ll be taking on before you depart. This will not create confusion, especially when there are things that need to be pre-arranged, such as bookings or meetings.
Be polite – always.
Being rude will never reflect well on you. If you have a habit of dismissing waiters or taxi drivers for instance, it’s time to re-think your attitude. If you believe that being offered a service gives you the right to treat the person on the other end as if he or she were beneath you, should your boss be doing the same? Be polite and understanding at all times. The old saying “Treat people the way you’d like to be treated” goes a long way in establishing a good rapport.
Enjoy it!
If the expression on your face is a constant reflection of stress and tension, it’s not the best way to be representing your company and your boss will notice this. Be confident, enjoy the trip and carry a smile on your face. Know your stuff ahead of time and you’ll leave a lasting, positive impression on your boss.
Let us take off some of your business travel worries off your shoulders. Trust us with your data roaming needs, buy the Forbesfone Global Travel SIM and join the happy customers already making use of our service everywhere around the globe!
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649310a7423486c848c6ac40dc76ec0a
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https://www.forbes.com/sites/forbesmarketplace/2017/09/12/47-expert-tips-anyone-considering-investing-in-real-estate-needs-to-read/
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47 Expert Tips Anyone Considering Investing In Real Estate Needs To Read
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47 Expert Tips Anyone Considering Investing In Real Estate Needs To Read
SAN FRANCISCO, CA - JULY 18: A sign is posted in front of a home for sale on July 18, 2017 in San Francisco, California. California is experiencing a housing crisis with a low number of afforable homes for sale. The State's median home price is around $500,000 and some areas are well over a a million dollars. (Photo by Justin Sullivan/Getty Images)
From market unpredictability to unplanned maintenance costs, investing in real estate certainly carries its own set of challenges.
Whether you’re well-versed in real estate investing but considering a new market, embarking on your first investment property, or trying your hand at flipping a house to maximize value, you don’t want to go the trial-and-error route when hundreds of thousands of dollars (or more) is on the line.
Below, we’ve gathered nearly 50 real estate investing tips from members of Forbes Real Estate Council, the foremost organization for real estate experts and entrepreneurs, so you can learn from their mistakes and successes.
[Bonus: Meet seven FREC members here.]
1. Unlike on TV, house flips don’t happen fast.
“Reality flip shows make the purchase, transformation and sale of a home seem like it happens in a few weeks' time. I guess it would be boring to watch the permit approval process, engineer drawings, inspections, insurance, how they are financing the deal and the fact that many investors have to hold the property for 90 days due to the 90-day flip rule, but that is the reality.” - Hillary Hobson, Highest Cash Offer
Read 8 other TV-inspired flipping myths.
Why: Turn on HGTV and you’ll find a whole lineup of house-flipping shows. But unlike a TV production, which includes heavy editing and fabricated drama for entertainment, flipping a house in the real world requires much more than a one-hour time slot.
2. Spend time at a property before you buy.
“Sit in your car outside of the property from 6 a.m. to 9 a.m. and from 9 p.m. to midnight before you commit to buying it. You will see what is really happening at the building and in the neighborhood during those times.” - Lee Kiser, Kiser Group
Read all 10 tips for first-time investors.
Why: With so many details bogging down your brain as you embark on your first investment, consider these important foundational tips that easily could have slipped through the cracks.
3. Don’t expect any free advice.
“When I think back about all the people who I help make millionaires, yes, I'm happy for them, but I have learned over the years that my wisdom is not free. Now I either partner with the clients I mentor with a joint venture partnership, or have a contract drawn up that makes me part owner in their company for my contribution to their success. It's either paper up or lawyer up... that's the rule to my new game.” - Angela Yaun, Day Realty Group
Read 11 other lessons real estate pros have by making mistakes.
Why: Don’t chance it. This advice from people who have been there and done that serves as a great guideline of what to do and what not to do.
4. Don’t invest where growth is happening. Instead ...
“We often notice the best investments are in the spillover markets, which are communities just outside where all the growth is happening in the hot market. As real estate values skyrocket, this instantly starts pricing people out of the hot market and they often look at the spillover markets that mirror most of the winning characteristics of the hot market.” - Sharran Srivatsaa, Douglas Elliman
Read all 10 signs an up-and-coming market is worth investing in.
Why: Waves of urban areas are now becoming hot real estate commodities (we see you, downtown Detroit), increasing the area’s potential and property value. A number of factors contribute to these newfound demands, but those behind the scenes have a front-row look at what’s worth investing in and what’s worth pausing on.
5. Accept that everything will be more difficult than you think.
“Long-term plans work only as long as you accept the reality that the journey is going to be difficult. Over the years I’ve learned that any large-scale project I tackle will probably take more effort than I assume, longer than I project and I will likely encounter immense challenges along the way. Author Stephen Pressfield describes this creative challenge as Resistance, and one can overcome this by studying their peers and meticulously emulating their best practices.” - André Bueno, founder, The Bueno Group
Read 5 more best practices for new real estate investors.
Why you should read it: Written by a successful bootstrapping real estate entrepreneur, this piece focuses on what it takes to truly persevere (and win) in any market.
Forbes Real Estate Council is a thought leadership and networking community of top real estate professionals. Find out if you qualify to join Forbes Real Estate Council or another executive community in the Forbes Councils network.
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4bbb15e43e218aa26c12e3873547a811
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https://www.forbes.com/sites/forbesmarketplace/2018/02/16/the-true-value-of-customer-service/
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The True Value Of Customer Service
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The True Value Of Customer Service
Captive insurance is a unique business that allows organizations to form their own insurance companies and take full control of their risk management program. As founder of The Strauss Law Firm and Hamilton Captive Management, I consider myself fortunate to participate in this booming industry.
Most of my firms’ clients are experts within their own business, but they need expert captive managers to help them navigate formation and regulation around their captive insurance companies. In my experience, being a captive insurance manager is a great niche business with high barriers to entry, but despite the competitive advantages for an expert in captive insurance, the most important criteria for success as a captive manager is not expertise in insurance or regulation, but the ability to deliver best-in-class customer service every minute of every hour of every day.
After all, insurance policies don’t create customers—customer service around well-developed products creates customers.
How do my firms attack that requirement? Two ways. First, with the culture we set. Employees are treated with respect and with genuine concern about their goals and career path. Second, with the people we hire. The ability to serve a customer well is part of a person’s inner core—how they relate to others, the concern they show for cooperation and going the extra mile without thinking twice.
We look for those qualities in each and every hire, and we evaluate them often as employees interact. If employees cannot take a customer service attitude with each other, you can be sure they won’t with the customer. Whether we perform a service for a client once a year, once a month, or once a day, we aim to make it a great experience; if we feel we haven’t achieved that goal, we own it with our client and explain to them our plan for improvement.
Like many successful companies, much of our new business comes from satisfied customers who refer clients to us because of their own great experience with our company. We stress to our employees that each interaction with a client is an opportunity to impress and to not only satisfy that customer, but to bring another customer in. Quite simply, the growth and sustainability of our business is dependent on satisfied customers.
Many firms make the mistake of focusing the lion’s share of their attention and resources on acquiring customers, when in reality it is after the customer is secured that the work begins. We are fortunate to operate in a great industry space, but we have to be relentless in keeping our clients top of mind. We want to surprise them with the excellence of our attention and proactivity to exceed their expectations.
It’s a tall order but it’s one that energizes our company and energizes our employees to come to work every day.
Peter J. Strauss is an attorney, captive manager, speaker and author of The Business Owner’s Definitive Guide to Captive Insurance Companies with ForbesBooks. Learn more at peterjstrauss.com.
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7c6dcf11bd7581f791b67feca59405bf
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https://www.forbes.com/sites/forbesmarketplace/2019/07/29/how-one-ceo-is-becoming-the-face-of-experiential-real-estate/
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How One CEO Is Becoming The Face Of Experiential Real Estate
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How One CEO Is Becoming The Face Of Experiential Real Estate
Irene Amato, CEO at A.S.A.P. Mortgage Corp. and Forbes Real Estate Council member. All Photos Courtesy of the Members.
Buying a home is one of the biggest lifestyle and financial decisions most people will ever make. And while online shopping for everyday essentials like clothing, food and small appliances is at an all-time high, consumers making big-ticket purchases crave in-person, one-on-one experiences. For this reason, the real estate industry is trending opposite other consumer markets that are becoming more tech-driven and impersonal by the day.
The real estate market is also an increasingly millennial market. Millennials now constitute the largest demographic of homebuyers, though they’re still not purchasing real estate at the rate of previous generations. Having grown up during the housing and mortgage crisis, millennials are wary of home ownership, especially as they live and work in a growing gig economy. For those generating income by such individual and unpredictable means, spending that hard-earned cash on a home requires a similarly conscientious and personalized approach.
Forbes Real Estate Council member Irene Amato is the founder and CEO of A.S.A.P. Mortgage Corp., a brokerage firm with offices in New York, Connecticut, Massachusetts, New Jersey, Florida and Pennsylvania. Since the 2007 onset of the U.S. mortgage and real estate meltdown, A.S.A.P. Mortgage has flourished, opening five new office locations, hiring 24 new employees and achieving licensure in five additional states.
Amato attributes her firm’s substantial growth in a tough market to its focus on offering a personalized “boutique” homebuying experience to each and every client. “I see our success as validation that delivering an experience as opposed to a transaction yields qualifiable results,” she says.
Amato believes other mortgage brokers can achieve similar organic growth by becoming “the face of mortgages” in their communities. And she advises new homebuyers to seek those outstanding faces. “Now more than ever, it’s important to build a team that understands your needs and concerns. The mortgage and real estate transaction is unique to each consumer, who deserves a personalized experience with options customized for their individual situation,” Amato says.
A great way for mortgage and real estate professionals to foster this kind of relationship is by offering consumer education events that empower potential clients to take ownership, not just of a new home, but the entire homebuying process. A longtime educator, Amato is a New York State-approved real estate and mortgage continuing education instructor. Part of A.S.A.P. Mortgage’s community presence is its free consumer education seminars. Recently, the first-ever A.S.A.P. Mortgage home expo in Bronx, New York attracted 160 attendees to 10 educational breakout sessions covering all aspects of the housing industry.
Amato’s advice to real estate agents and mortgage professionals hoping to gain an edge in any market is to prioritize establishing and maintaining a sincere relationship with clients above all else:
“The best way to solve almost any problem is through genuine human interaction. Our society is so technology-driven that when a customer is treated like a human being and not just a number, they remember it and refer it.”
For more information, check out Irene Amato’s executive profile here. To learn more about Forbes Real Estate Council and see if you qualify for membership, click here.
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b541f82eb6598544e14dd0381e18f5b3
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https://www.forbes.com/sites/forbesmarketplace/2020/06/10/three-simple-steps-to-stop-employee-burnout/
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Three Simple Steps to Stop Employee Burnout
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Three Simple Steps to Stop Employee Burnout
You show me a really hard worker and I will give you a rough estimate of when that employee is likely to burn out. Burnout is real, with Gallup reporting that two-thirds of employees saying they feel burnt out at least some of the time. Yet it remains somewhat of a silent employee-retention killer. Learn to spot the red flags early and often, and I promise you will find more benefits in investing in your people rather than counting on waves of new hires to keep the business rolling. So how can you respond to burnout?
Empathy
Don’t feign surprise when I tell you that employees are receptive to their managers giving them a break. In a world where people are increasingly raising families, including caring for aging parents, there are a lot of balancing acts unknowingly happening around us. You might start noticing your employee making more mistakes than normal, or not having the same can-do attitude they usually exhibit, and often, that isn’t the time to come down hard. Think beyond what you see in front of you and realize there may be things going on behind the scenes that you simply don’t know about.
Perks that Matter
This is one area where work perks can make a major impact on employee retention and get ahead of burnout before it starts. An open vacation and flexible work policy are still surprisingly difficult for many employers to wrap their heads around, but giving people the freedom to do their work and also live their lives makes for a simple solution. It isn’t enough to offer these perks, though. Ensure that you’re encouraging employees to actually use them.
Treating People Like Adults
You will hear me say this often, and this is probably the biggest factor in whether employees face burnout or not. When you hire competent people, and allow them to do their jobs without being micromanaged, it frees up a lot of mental energy to truly make an impact on the organization. So, as a business leader and manager, ask yourself: am I standing in my employee’s way?
Burnout is inevitable, but rather than seeing it as a sign of weakness, meet that employee with empathy, help them reprioritize their projects, and encourage them to take some time off. I can promise you that you will more often than not get loyalty and consideration in return.
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df549325b72b72d55026e44c2b609fb3
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https://www.forbes.com/sites/forbesmarketplace/2020/07/22/why-this-founder-says-smart-apartments-are-no-longer-a-luxury/
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Why This Founder Says Smart Apartments Are No Longer A Luxury
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Why This Founder Says Smart Apartments Are No Longer A Luxury
Blake Miller, Founder at Homebase.ai and Forbes Real Estate Council Member. All Photos Courtesy of the Members.
This article series spotlights key business trends identified by the expert members of Forbes Councils. Find out if you qualify for Forbes Real Estate Council here.
The Covid-19 crisis has significantly disrupted the real estate industry, especially when it comes to multi-unit apartment buildings. With approximately 30 million jobs lost, many renters are struggling to make ends meet, and affordable housing – which was already in short supply – is now even more vital. Furthermore, preventing viral spread through social distancing has created a new demand for voice-controlled, touchless smart features and more reliable Wi-Fi with increased cybersecurity for Americans working from home.
Smart apartments utilizing energy efficient technology can save property owners tens of thousands of dollars a year, making the affordable housing market more lucrative and attractive. According to Intel, adding IoT-based controls to a building management system (BMS) can cost $5,000 to $50,000 while saving $15,000 to $50,000 annually. By focusing on HVAC, lighting and electrical loads, buildings can save 10 to 25% of their annual energy cost. And for some buildings in high-load areas of the U.S., that amounts to upwards of $100,000 each year.
Forbes Real Estate Council member Blake Miller is the founder of Homebase.ai, a smart apartment automation system for the multifamily housing industry. Utilizing trusted technology including smart locks, IoT amenities and automated property management, Homebase creates a smart apartment experience for both new builds and retrofit properties. Miller, recognized as a NextGen Leader by the Kansas City Business Journal, a top 20 in Their Twenties by Ingram’s Magazine and one of the Top Young Entrepreneurs to Watch by under30ceo, says the Covid-19 crisis has property managers seeking new means to keep their staff and residents safe.
“Smart technology has moved from early adopter advantage to mainstream need,” Miller said. “Homebase.ai has leaned into developing features to empower property owners to remotely manage their properties utilizing smart locks from our partner, Schlage. The company recently launched short-term access for self-guided tours, so leasing agents can securely allow residents to view a property on their own. “We've also launched short-term vacation rental and single family rentals management, improving our installation apps, allowing a DIY version.”
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Even before the pandemic, more renters preferred smart amenities, such as keyless locks and connected appliances, to traditional amenities like gyms and swimming pools. During and after the pandemic, amenities that limit surface contact while maximizing comfort and efficiency, such as smart lighting, automated maintenance requests and in-unit package drop-off, are in exponentially higher demand.
Miller, who is also the host of the Future of Living podcast, sees a lot of potential on the horizon. “The concept of smart apartments is an entirely new category and there are a lot of innovative companies in the space,” he said. What makes smart apartments distinct is that they go beyond smart gadgets, which eventually become obsolete. Miller says smart apartments integrate three key features – smart amenities, community management and building automation systems – into one connected building system.
Smart apartments aren’t just possible with new construction; older buildings can be retrofitted with smart apartment connectivity, too. Miller advises developers interested in building or retrofitting smart apartment buildings to keep a few key considerations in mind. Firstly, it’s not enough to install smart gadgets; smart apartments should include IoT connectivity to maximize people and energy efficiency. For example, Miller predicts smart HVAC systems and built-in IoT networks will soon be considered utilities like water and electricity.
Next, developers should choose a comprehensive platform that manages all of a building’s smart technology, including property/community management and building automation, in one place. While many companies can install smart devices such as lights, locks and thermostats, fewer property management services offer unified property management platforms. But since all smart devices eventually become obsolete, Miller says the only way to “future-proof” a building is by pairing connected building infrastructure with an open, upgradeable management platform.
During a time when unemployment is the highest it’s been since the Great Depression, Miller emphasized that automating properties isn't about automating away jobs. “Smart technology and automation enables property managers to manage more units at a distance without losing critical resident engagement,” he said. Ultimately, he believes smart apartments are no longer a future luxury, but a modern necessity. As society tackles serious issues beyond Covid-19 – from climate change to an affordable housing crisis – smart apartments can fundamentally improve people’s quality of life while substantially cutting costs and fossil fuel emissions.
For more information, check out Blake Miller’s executive profile here. To learn more about Forbes Real Estate Council and see if you qualify for membership, click here.
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8dc3344c558a79dfad0bbc1cfaab4949
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https://www.forbes.com/sites/forbesmarketplace/2020/10/08/this-seo-expert-says-businesses-should-optimize-for-voice-search-now/?sh=36b7182a38ad
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This SEO Expert Says Businesses Should Optimize For Voice Search Now
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This SEO Expert Says Businesses Should Optimize For Voice Search Now
Victor Smushkevich, Founder at Smart Street Media and Forbes Agency Council Member. All Photos Courtesy of the Members.
This article series spotlights key business trends identified by the expert members of Forbes Councils. Find out if you qualify for Forbes Agency Council here.
According to a recent report by Strategy Analytics, global smart speaker sales hit record highs in 2019, with 147 million units sold, representing a 70% increase. Smart speakers and virtual assistants such as Amazon Alexa, Google Home and Apple’s Siri have become prolific in recent years, as hands-free voice command becomes the dominant way consumers perform searches, shop online and complete everyday tasks.
This has substantial implications for both big brands and small businesses. According to Think with Google, 27% of the world’s population is now using mobile voice search. A recent PwC survey of a representative group of 1,000 Americans found that 90% of consumers are familiar with voice-enabled devices and 72% of them have taken advantage of this technology. In 2018, a study by Bright Local revealed that nearly half of consumers who use voice search seek local business information daily.
Forbes Agency Council member Victor Smushkevich is the founder of Smart Street Media, a Los Angeles-based full-service digital marketing agency specializing in SEO and lead generation. Having generated hundreds of millions of dollars for clients over the past 11 years, Smushkevich has been closely monitoring the exponential growth of voice search and weighing its implications for business. He said voice-activated search is poised to overtake browser search in the near future.
“I’ve witnessed many industry trends and have helped businesses adjust to meet each one. And I believe the use of smart speakers or virtual assistants is the most critical trend of them all,” Smushkevich said. “These devices are redefining how consumers get things done and locate essential information. Virtual assistants are penetrating markets at a high rate each year, making it crucial that businesses prepare for what will probably be the inevitable voice revolution.”
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Smushkevich has already begun capitalizing on this trend. “At Smart Street Media, we’ve polished our structured data markup to help us appear more in voice search results,” he said. Structured data is code added to HTML markup to provide more information to search engines, enabling algorithms to comprehend a page better. Smart speakers utilize structured data and rich results (additional information, such as reviews, answer boxes, recipes and events appearing on search engine results pages), which are pulled from structured data.
“Smart speakers rely on rich results when answering voice queries. Fine-tuning our implementation of structured data has helped us win more prominent positions in rich results and, subsequently, voice search results,” Smushkevich said.
He recommends professionals in the search marketing industry start optimizing for voice search now. “Humanity generally gravitates towards convenience, so voice search is likely here to stay. It isn't going to be a short-lived trend.” In his view, getting hands-on experience is the best way to understand the potential for voice search. “Anyone with a smartphone can download Google Assistant or Siri, and they even come pre-installed on some devices,” he said. PwC’s in-depth “Prepare for the voice revolution” report is another recommended resource.
Smushkevich cautions that waiting too long to optimize for voice search may be an enormous missed opportunity. “The growing number of virtual assistant users isn't slowing down, and anybody with a smartphone can use voice search. Imagine the amount of traffic one would be losing out on if no action is taken to optimize for voice. I'm almost sure that voice search technology will become faster, more intelligent and more accurate over time. Start now to avoid any regrets later.”
For more information, check out Victor Smushkevich’s executive profile here. To learn more about Forbes Agency Council and see if you qualify for membership, click here.
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477d46ab0e637872cb0eaeb81645752c
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https://www.forbes.com/sites/forbesmarketplace/2020/11/25/why-one-cmo-says-brands-need-a-serious-d2c-strategy-right-now/
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Why One CMO Says Brands Need A Serious D2C Strategy Right Now
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Why One CMO Says Brands Need A Serious D2C Strategy Right Now
Indy Guha, CMO at Signifyd and Forbes Communications Council Member. All Photos Courtesy of the Members.
This article series spotlights key business trends identified by the expert members of Forbes Councils. Find out if you qualify for Forbes Communications Council here.
The direct-to-consumer (D2C) selling model used to be the domain of venture-backed startups such as Warby Parker, Away, Allbirds, Casper and UNTUCKit. But the D2C model has been gaining popularity with multinational brands and Covid-19 has only accelerated this trend. Now, global legacy brands such as Pepsi, Harley-Davidson, Levi’s, Revlon and Shiseido have adopted this approach.
Online sellers are becoming more sophisticated in using data to personalize inventory, offerings and communication for individual shoppers. Brands that don’t have access to this data were losing a competitive advantage before the pandemic. When Covid-19 created supply chain chaos in early 2020, it was a tipping point for many brands to take more control of their selling channels. By bypassing third-party sellers and selling D2C, brands are able to achieve significantly higher margins, even during the pandemic.
Forbes Communications Council member Indy Guha is the CMO at Signifyd, the world's largest guaranteed fraud protection provider enabling online retailers – including global brands such as Samsung, Lacoste, Mead Johnson, TUMI, Stance and Quiksilver – to create a friction-free customer experience, increase sales and open in new markets while reducing risk. Guha says Signifyd has capitalized on the D2C trend by helping many of their customers transition to this new model before and during the pandemic.
“Selling directly to consumers through online channels, rather than acting as a wholesaler, means adopting a whole different approach to marketing, merchandising and customer support. And, yes, it requires new attention to risk management to prevent fraud and consumer abuse,” Guha said.
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By partnering with dozens of enterprises such as Samsung, Mead Johnson and Lacoste at the beginning of their D2C journeys or at a time when their D2C sales have accelerated – especially during Covid-19 – Signifyd has seen dramatic growth. “E-commerce sales on Signifyd's commerce network increased by 87% year-over-year in May, as the shutdown of nonessential retailers and consumers' fear of shopping in physical stores inspired new buying habits,” Guha said.
According to eMarketer, today’s e-commerce sales are still over 30% higher than they were a year ago, which far exceeds the 18% growth previously forecasted for 2020.
Guha said that while some of that extra growth was powered by consumers shifting from in-store to online buying, a significant portion stemmed from the lessons brands learned early in the pandemic.
For example, brands in the leisure and outdoor verticals lost key customer channels when online giants and big-box retailers such as Amazon and Walmart prioritized essential household products like toilet paper and hand sanitizer for online fulfillment. “Tents, bicycles, puzzles and the like were hardly considered essential early in the pandemic,” Guha said. “But demand was there from residents facing the prospect of weeks or months of sheltering at home and yearning for new distractions.”
D2C brands in these high-demand verticals were eager to step in and meet this need. By May, Guha says online sales of leisure and outdoor items were up 131% on Signifyd’s commerce network. As a result, more brands in leisure, outdoor, electronics, fashion, apparel and luggage verticals decided to take control of their own destiny and prioritize selling directly to consumers.
Guha said the shift to D2C commerce represents the biggest change in the retail industry since the dawn of e-commerce. He predicts this trend will transform everything from product design and supply chains to marketing and brand-consumer relationships. “Engaging directly with consumers provides brands with an instant feedback loop on what consumers want in terms of the products that brands sell and the way in which they sell them.”
Beyond acquiring a D2C channel for a specific product – e.g. Unilever buying Dollar Shave Club – Guha advises brands to focus on building a channel to sell existing products directly to consumers, the way PepsiCo launched its PantryShop delivery service during the pandemic.
He acknowledged that transitioning to a D2C model can be a source of channel confusion and anxiety for retailers that serve as brand sales channels. However, he sees prominent brands such as Nike and Samsung successfully navigating this territory. Big-box retailers selling products made by other companies have also been changing with the times, moving to private label brands with their own D2C opportunities.
Guha believes the supply chain complications and store closings caused by Covid-19 should be enough to move D2C to the top of the priority list for brands that haven't adopted a serious D2C strategy yet. His advice is to start implementing D2C as soon as possible: “It’s the wave of the future, if not the wave of right now.”
For more information, check out Indy Guha’s executive profile here. To learn more about Forbes Communications Council and see if you qualify for membership, click here.
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a49f475632ffd052a3a8cc84e5e01529
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https://www.forbes.com/sites/forbesmarketplace/2020/12/04/a-snickers-bar-a-longshot-bid-and-a-willingness-to-diversify/?sh=17e1171d5765
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A Snickers Bar, A Longshot Bid, And A Willingness To Diversify
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A Snickers Bar, A Longshot Bid, And A Willingness To Diversify
getty
Snickers®, the candy bar that’s been around since 1930, gives us those great TV commercials with the tagline: “You’re not you when you’re hungry.”
I like the candy bar, but I differ a bit with that slogan. At Mustang Engineering, the company I helped found, we believed in staying hungry – in good times and in bad – so we almost certainly were ourselves when we were hungry.
That said, Snickers did help me out immensely on at least one occasion when I needed to win a bid on a job that seemed a longshot.
Here’s how that came about.
Back in the 1980s, Mustang had been in existence for just six weeks when a friend suggested we bid on an engineering contract with a public bus system. This made little sense to me. We were an offshore engineering firm. The contract we would be bidding on involved a bus maintenance facility.
Plus, it was government work, which means a lot of red tape, and we liked to do our projects without worrying about bureaucratic stumbling blocks.
But my friend reminded me that I always talked about the importance of diversifying and this represented an opportunity to do just that.
So, we put in our bid and it came down to this: Mustang and three other firms were invited to make presentations to the board that oversaw the bus line.
Up until then, my idea of doing a presentation was just to wing it. But that wouldn't get the job done in this situation, especially since we were in competition with three firms that all seemed a better fit for the contract.
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I began to research how to do presentations, and in the process, I discovered that if you are up against several competitors, the first presenter and the last presenter have the upper hand. If you’re first, you have the opportunity to set the standard everyone else will be judged against. If you’re last, they will ask you questions to compare you to what they heard from the first three, giving you the opportunity to respond to and outshine the competition.
I asked my friend, ”Can you make us the last presenter?”
Because our firm was already an outlier in terms of the expertise being sought, I wanted to change the mood in the room from the moment I arrived. By the time I spoke, I figured they would be thinking about lunch, so I took along a bag full of Snickers bars to offer as a pre-lunch snack.
I opened my presentation with a line that echoed the “Snickers satisfies you” advertising campaign popular at the time. “Mustang will satisfy you,” I said, and began to place a candy bar in front of each person. As I did so, I sang, “Mustang will satisfy you,” to the tune of the Snickers jingle. My message was that we were different from those other engineering firms because we would focus on their needs and take care of them.
At last, I came to a woman who was pregnant. I gave her one of the big Snickers bars, then pulled out a smaller one and told her, “This one is for your little one who is coming along.” Everyone laughed and the ice was broken.
When you can change the energy in a room, you can redirect that energy the way you want it. As a result, we got into a conversation about how they could help us by reducing red tape, and how we could do a better job than the other firms they were considering.
We won the contract and it saved the company in that first year.
And as you can imagine, I still like Snickers bars.
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de432a8e77b124bc7297563e129898dc
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https://www.forbes.com/sites/forbesmarketplace/2020/12/18/keep-relationships-intact-by-keeping-your-emotions-in-check/?sh=a7fe75c77e32
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Keep Relationships Intact By Keeping Your Emotions In Check
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Keep Relationships Intact By Keeping Your Emotions In Check
BigStock
Among the more important lessons I’ve learned over the years is that strong emotions can drive you to do great work but there are instances when you need to keep those emotions in check.
Let me give you a personal example.
I remember once as a young engineer working on a particular project where I had numerous responsibilities. I was involved in a constant juggling act as I tried to keep everything on track and deliver for the client.
One day, a salesman for a company we contracted with on the project came to my office and, after a brief exchange of pleasantries, handed me a $10,000 change order. I felt myself getting a little hot. In the grand scheme of things, this was a puny oversight that I felt they should have clarified in their bid for the work.
The salesman’s case wasn’t helped by the fact I had already processed two other $10,000 change orders on equipment his company was handling for us. My temper wasn’t helped by that fact either.
I asked him rather bluntly whether processing $10,000 change orders was Sales 101 at his company. My blood pressure was definitely rising. So, to avoid escalating the conversation from tense to heated, I walked out of the office (my office, remember) and went in search of someone—anyone—to talk with other than that sales guy.
Walking away is a time-honored method for cooling off, and it definitely proved to be the right move in this instance. In a short time, I had calmed down. I returned to my office, and the salesman and I worked things out. The result: instead of creating a barrier between the two of us that might have become impossible to penetrate, we built better trust, got on the same team, and saved clients hundreds of thousands of dollars over the next decade.
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Later on, during a severe downturn in our industry, that salesman even gave me engineering work to keep 10 people busy, something that would not have happened if I hadn’t managed to keep my emotions in check that day.
So, the next time you find yourself in a situation where you know your emotions are about to bubble out of control, take a moment to step away. Get yourself in a state of mind where you can focus on the problem instead of the person. Doing so will help keep relationships intact with potential long-term benefits.
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0328a3d55ebbe92a078b9ebc97d0aee0
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https://www.forbes.com/sites/forbesnonprofitcouncil/2017/03/15/how-nonprofit-leaders-can-embrace-innovation-as-a-core-value/
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How Nonprofit Leaders Can Embrace Innovation As A Core Value
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How Nonprofit Leaders Can Embrace Innovation As A Core Value
Years ago I heard a story about one of the great industrial tycoons of the last century; it said that this man would spend part of each day trying to visualize what his industry would look like in 10 years. Though I no longer remember who the story was about, I still value the lesson.
Looking ahead is critical to business success. Many companies consider innovation a key business value, but to practice innovation takes creativity, strategy and courage. It requires the ability to take missteps and even to expect failure from time to time. A culture of innovation means never being satisfied with the status quo and understanding that you will get passed by if you are not moving forward.
When my organization was developing its core values, innovation was an obvious choice. As with any organization in the healthcare field, change is constant. Still, choosing this core value meant more to us than meeting the expectations and requirements determined by our industry. Being future-facing is good for company morale. Giving a team the space to push itself and achieve more pays off, and we sought to embrace ourselves as innovators — people who understand that looking ahead is essential to getting ahead.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
This type of thinking is particularly important when business is going well. It can be tempting to imagine that good economic conditions will continue to favor your business, but that’s unwise. When there are no emergencies, there is time for strategy and growth.
The nonprofit world is continuously changing. To stay successful, it is critical to look at today’s problems and develop tomorrow’s solutions. How is this achieved?
Stay Informed
Read, observe industry trends, and have conversations with colleagues. Ask questions — curiosity is vital to innovation. As you go through daily life, listen to the challenges people are having. Innovation lies in every complaint or issue. Don’t just focus on your industry, either. Explore various fields of interest; you will likely discover a confluence or flowing together of the various streams of knowledge as you explore. Science can inform education, and beekeeping can inspire engineering. It's all a matter of the observer’s ability to synthesize information.
Overcome The Fear Of Failure
First, acknowledge that failure is inevitable. Second, realize that it can be a tremendous opportunity. As Thomas Edison famously said after nearly a thousand unsuccessful attempts at making his groundbreaking electric lightbulb, “I have not failed. I've just found 10,000 ways that won't work.” Failure can be one of the harshest but most instructive teachers. Not everything you want to do or try to do is going to work. Anyone who has ever achieved has also likely experienced some monumental failures throughout the course of their career. The key is to let that motivate you to work harder. Seeing leaders make mistakes and then dust themselves off gives their teams the permission to do the same. A work environment where the occasional screw-up is permitted is healthy for an organization.
Say Yes
Vision is critical to success. You must, on occasion, be bold enough to take on challenging projects. The confidence to say that you can do something before you know exactly how you are going to accomplish it can make or break a company. I am not suggesting that you agree to things that you have no knowledge of, but rather, that moving toward projects and initiatives that are in your wheelhouse but outside of your comfort zone can revolutionize your business and invigorate your organization.
Remember, It’s The Little Things
Never forget that small improvements can add up over time. It is probably true the majority of positive change across an organization comes through the accumulation of small positive adjustments. Always keep an eye out for ways that processes and procedures can be improved. This is how innovation culture is fostered. Think about the British Cycling team that had marginal success in its 76-year history, until finally, it began winning in 2008 at the Tour de France and the Olympics. When asked what had transformed the team, Coach Dave Brailsford pointed to what he called “the aggregation of marginal gains,” or the accumulation of many small improvements over time.
It can be difficult to establish this type of company culture. There is always some level of resistance to change. New technology can be difficult to learn and new processes can be frustrating for a team who has been doing things the same way for years. Resistance is normal as a company’s culture changes. In a business organization, as in society, there are a very small number of innovators and a slightly larger number of early adopters — and then there is the rest of the population. When you choose innovation as a core value, you have the permission, and even the obligation, to seek more candidates who are part of this small, brave segment of the population.
With progress, there are always pitfalls. Learning to navigate those as a team, to make lemonade when possible and to walk away when necessary, will help your organization to embrace innovation as a core value.
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756c320a17020e22161e824d1c2cead6
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https://www.forbes.com/sites/forbesnonprofitcouncil/2017/04/26/five-challenges-international-nonprofits-face-and-how-to-address-them/
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Five Challenges International Nonprofits Face And How To Address Them
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Five Challenges International Nonprofits Face And How To Address Them
As a nonprofit leader, you rely on grants, donors and a dedicated, cause-driven team to keep your organization up and running. It can be difficult enough securing these resources in your local area, but it's even more difficult when you're reaching out across time zones, locations and cultures to work with a worldwide community.
Five members from Forbes Nonprofit Council each gave their advice on addressing key industry-wide challenges an international nonprofit might face.
Clockwise from top left: Aneri Pradhan, Gloria Horsley, Bruce Maj Pelz, Peggy Smith, Kevin Xu Photos courtesy of the individual members
1. Finetuning Processes Among Dispersed Teams
It can be difficult to remote manage a team in different cultures and environments. Set up strong real-time cloud-based applications for quick access across time zones (e.g. Google Sheets), set up weekly meetings at a time that works for everyone (and alternate if not), and be cognizant of local cultural behaviors when visiting. - Aneri Pradhan, ENVenture
2. Finding Donors Who Share Our Goals
Our biggest global challenge is finding and reaching donors everywhere that share our goals and passion. Social media has helped, as has focusing on SEO rankings to improve our position in various countries around the world. - Gloria Horsley, Open to Hope
3. Communicating Across Cultures
When working globally, communication and accommodating cultural norms is often challenging. A well-defined communication plan that establishes regular meetings across time zones is essential. It’s also key to find trustworthy local partners who can guide your operations in a culturally appropriate way that resonates with the beneficiaries and staff you are serving. - Bruce Maj Pelz, Maji Safi Group
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
4. Developing A Universal Company 'Language'
Establish a universal, standard value system where people of different ethnicities, cultures, and backgrounds can understand each another. - Kevin Xu, Human Heritage Project & National Rongxiang Xu Foundation
5. Staying Aware Of Geopolitical Shifts
It’s critical to stay abreast of geopolitical shifts and to be flexible enough to change course or adjust our strategic plans accordingly. Those of us with global activity must be keenly observant of global compliance and changes in the regions where we do business, as new regulations and rules can impact our own international initiatives, and our members’ ability to do business around the world. - Peggy Smith, Worldwide ERC
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560039230e2a2d5b4099669e07d3b13f
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https://www.forbes.com/sites/forbesnonprofitcouncil/2017/05/16/five-ways-to-encourage-youths-to-pursue-social-entrepreneurship/
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Five Ways To Encourage Youths To Pursue Social Entrepreneurship
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Five Ways To Encourage Youths To Pursue Social Entrepreneurship
People in their teens and early 20s are full of passion and questions: For years, they've seen how the world is, and now they are ready to step onto the stage to help change it for the better. This vigor and passion can bring energy and new ideas to a non-profit, as well as guarantee that another generation will take up the fight to improve lives.
But getting people fully engaged can be tricky: There are a lot of different distractions or competitions for youths' time. So how can you encourage more young people to pursue social entrepreneurship? Members from Forbes Nonprofit Council have this advice.
Forbes Nonprofit Council members advise how to support the next generation of social entrepreneurship. Photos courtesy of the individual members.
1. Find Areas Of Interest To Get Them Involved
Finding areas that resonate with young people can help them get involved, especially if it is something that involves peers, where they could see themselves in that position, and then develop a sense of fellow feeling about helping them. Also, planning some places where young people can get actively involved helps, so they see others in those roles and understand that they can do the same kinds of things. - Gloria Horsley, Open to Hope
2. Help Them Embrace Their Passion For Social Good
The great thing about millennials is that they're not only quite entrepreneurial, but they're also socially responsible and interested in giving back. Helping them embrace their passion around social good — through things like education, mentorship, tech resources and pro bono services — will allow them to take the entrepreneurial leap and put their ideas into action! - Jeff Rosset, The Chicago Leadership Alliance
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Teaching Empathy Is Key
Teaching young people more about empathy is key to encouraging them to take more engaged social action, and deliver appropriate entrepreneurial solutions to social problems. By putting yourself in the shoes of your beneficiaries and learning how to become more empathetic, youths will develop more passion for their work and produce realistic solutions that listen to, and serve, their beneficiaries. - Bruce Maj Pelz, Maji Safi Group
4. Youths Are Seeking Meaningful Opportunities
Young people are searching for meaningful opportunities in social entrepreneurship. The more responsibility, ownership, and impact involved in the role, the better. - For example, ENVenture is a social enterprise in Uganda that pairs recent graduates as Business Development Fellows that are in charge of setting up a clean energy business in a rural village with a host organization. - Aneri Pradhan, ENVenture
5. Show Others Pursuing Social Entrepreneurship
Seeing other young people successfully pursuing social entrepreneurship is the most important thing we can do to encourage more young people to pursue the space. Social entrepreneurship programs and awards, on-campus programs, online videos and podcasts are all helping young people realize that social entrepreneurship can be a meaningful and impactful career choice. - Kevin Barenblat, Fast Forward
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5cf6187bd8dfd6a13b875dec41f66185
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https://www.forbes.com/sites/forbesnonprofitcouncil/2017/07/05/how-to-turn-a-message-into-a-moment-using-mobile-marketing/
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How To Turn A Message Into A Moment Using Mobile Marketing
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How To Turn A Message Into A Moment Using Mobile Marketing
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According to recent estimates from eMarketer, approximately 75% of 12- to 17-year-olds in the U.S. own a smartphone. Another survey by Flagship Research puts the number at 87% for 14- to 18-year-olds.
It should come as no surprise that in this digital age, youth are spending an average of nine hours in front of a screen each day. This means mobile is a critical platform for engaging and activating young people to take action on important issues. That’s why we, a nonprofit public health organization dedicated to making tobacco use a thing of the past, turned to mobile to help inform teens about the dangers of tobacco and provide them the tools to fight back against Big Tobacco.
Here are a few key lessons and takeaways you can use in your own nonprofit mobile campaigns, as well:
Connect with your target audience. Understanding the demographics and habits of your target audience is key. If, like us, your message is geared toward a younger audience, leverage the power of mobile, email marketing and social media platforms. For example, our foundation tapped into a messaging platform to let a major U.S. drugstore chain know that tobacco products have no place in their stores and that selling cigarettes is not in the best interests of their customers. The messaging platform, along with email marketing and social media, helped us and a partnership organization put together a petition that collected over 5,300 youth signatures and engaged more than 67,000 young people to encourage pharmacies to remove tobacco products from shelves.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
Know and own your message. It is important for the message you send to resonate with your audience. In our case, we learned that shaming doesn’t resonate and that we need to encourage non-smokers to inspire their peers. We relied on our research team to determine what language and messages would best inspire action and used that to develop our messaging and calls to action. From there, we used a three-pronged message to help spread the word about the petition. Once users completed the petition, they received a message encouraging them to pass it along to friends. To encourage completion of the petition, we sent inspiring messages highlighting how many peers had already participated.
Choose your channels. While teens are on mobile a lot, you still need to optimize your engagement. With today’s powerful smartphones, you can access just about anything in the palm of your hand. So we had to be smart about what method we used to really get their attention. We used SMS as a key way to stay connected with the teens who have taken steps to become “finishers” and be the generation that ends smoking, and also to give others the tools to take action. Compared to the other platforms, SMS drove 55% of participation -- more than email, social properties and coalition partners combined.
Repeat. While defining your audience, fine-tuning your message, and choosing a delivery method are important steps, you can’t simply send out your campaign once and call it a success. The cadence of messages and content of sequential messaging is just as important to your mobile marketing strategy. In our case, the ability to send sequential messages to different groups of engaged activists really pushed the line against the aforementioned drugstore chain -- first, piquing interest about a broad issue, then distributing a petition where they could take action and, finally, connecting them with social media resources for the final push.
Using mobile is a smart approach to connecting with youth, but always make sure to follow best practices such as sharing thought-out messages and continuing to share the message on other platforms, like social media or email.
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0d456317d1222d01c861fa301a04b7b4
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https://www.forbes.com/sites/forbesnonprofitcouncil/2017/08/21/how-to-address-the-psychological-effects-of-grief-in-the-workplace/
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How To Address The Psychological Effects Of Grief In The Workplace
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How To Address The Psychological Effects Of Grief In The Workplace
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When a loss happens, you are never prepared for the feelings that come over you. When my son died in a car crash that a drunk driver caused, there was so much to process then and well after the event. You are used to having that person around and then suddenly they aren't there anymore. You won't get a chance to say everything you wanted or enjoy any more time together. You're left with a void.
As such, grief can have a significant impact on the body and mind, adversely influencing your work performance and increasing the challenges you face just trying to handle daily tasks. As managers and colleagues, it is important that we understand how grief affects people so that it can be handled in a sensitive way while also encouraging the grieving person to refocus again on their life. Work and their network of colleagues, friends and family can even help start the healing process.
Understanding The Impact Of Grief On The Body And Brain
What we also don't realize is that loss and the accompanying grief does more than bring on profound sadness and even anger. It also impacts our brain and how our body works. In fact, an article in The Atlantic noted that grief weakens the body, and that's really true. Grief has such an influence that the study's researchers found it leaves a person more vulnerable to infectious diseases and can even cause increased mortality.
This weakness may also be the result of the body's initial reaction to grief, which is a protective response from hormones that alert the body to enter a combat mode. There is an increase in cortisol, which is typically associated with stress. The result is that most people who are grieving experience some type of sickness in the first few months after a loss. The longer the grief goes on, the greater vulnerability is placed on physical, mental and emotional health.
Studies that look at the brains of the bereaved also see dramatic changes. Prevention Magazine cited studies that saw changes in the brain's neuron network that manage mood, memory, perception, conceptualization and regulation of many of the body's physiological systems like the digestive system. Even more alarming was the fact that these studies concluded that the longer a brain focused on negative thoughts, the more developed these new neural pathways became, leading to chronic sadness and profound impacts on thinking, creativity and memory. Some studies indicate that if we let grief take hold, it can also open us up to mental illness.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
How To Help Employees Combat Grief At Work
There are many ways to look at helping employees and colleagues to combat these effects of grief. Have a program in place to provide the grieving with time off to undertake the healing process:
If your organization provides benefits, make sure that the healthcare benefits include the ability to seek out mental health care, including counseling. They can opt to use these sessions during their time off or as needed after returning to work. Provide more flex time so that they can work from home in order to have more private time while remaining productive. Let them know you are available to talk and share your encouragement at returning to work to help provide a channel where they can gain some semblance of control and see positive results. At the same time, make sure you are not putting undue pressure on them or adding to any guilt. If necessary, reassign certain projects and work until your grieving team member is ready to focus on the work. Be respectful of the grieving process but also emphasize their responsibilities should the grieving go on for months and the person is unable to regain productivity. Where it seems appropriate, invite the bereaved person to social events or small social gatherings to provide a positive and warm environment where they can be reminded of how much people care for them. Encourage your team member to get involved in some type of activity or volunteer work that your organization is partnering with like building a home or working at a homeless shelter. These activities make the grieving person feel needed again.
Grief is a complex animal. It serves as medicine to help cope with the extraordinary sensations and emotions that come from losing someone close to us. Yet, if it carries on too long, grief can also become a disease that wreaks havoc on our brains and bodies. Knowing what it can do to can help us assist those who are grieving. While we don't want to interfere and tell them what to do, being aware of what grief does and how it can be helped offers some benefit to both the grieving individual and those around them at work.
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b59b97ed020cc3ae410e9f916f34a009
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https://www.forbes.com/sites/forbesnonprofitcouncil/2017/09/12/our-contribution-to-the-refugee-crisis-lets-try-again-this-time-more-entrepreneurially/
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Our Contribution To The Refugee Crisis: Let's Try Again, This Time More Entrepreneurially
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Our Contribution To The Refugee Crisis: Let's Try Again, This Time More Entrepreneurially
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Doctors, engineers, architects, lawyers, writers, journalists, teachers, translators, tailors, designers, house builders and U.S. contractors: People like those you grew up with, people like you.
These are just some of the residents I got to meet at the Oinofyta Refugee Camp in Greece in the last two months: People who had to flee their homes because of conflict and persecution, who have crossed international borders and seas in search of safety — and, because of that — are registered now as refugees. This new label puts them into camps across the world, without access to markets, financial services, technology, housing, the dignity of a job or even an education. Today, more than 65 million people have been forcibly displaced worldwide and are registered as refugees. According to UNHCR, an average of 24 people are displaced per minute — almost double the typical frequency at which adults breathe.
Breath 24 times in one minute and each breath means one person had to leave their home, family and career behind. People who were active in their countries’ markets now find themselves estranged and impoverished. These refugees have no access to the dignity that a job brings. Like you and I, they want to contribute to their communities, earn a living instead of a handout, and embrace the sense of personal agency that comes with having a job. After my volunteer experience, the only thing I still can think about is the profound opportunity that entrepreneurs and innovators have in providing refugees inside of camps with sustainable jobs.
These are skilled and resilient people that need initiatives that can connect them to markets, train and employ them, give an outlet to harness their brilliance, and empower them to make an income and add to the global market in a valuable way. So how can we strengthen infrastructure and access to resources needed for refugees to become self-reliant and support countries that welcome them? How can we help them maintain communications and connectivity from inside the camp? How can we offer banking solutions to help them obtain easier access to banking services and digital payment systems? How do we help refugees with functional and financial literacy skills so that they can productively contribute back to their communities and those they now find themselves in?
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
These are questions that are leading us to answers, and after my experience in Greece, I do believe the refugee crisis in not only a huge unmet need but also an exciting opportunity. Here are five things entrepreneurs and innovators can take into their own hands and make the impossible possible:
1. Explore innovative partnerships with organizations and businesses that can help you understand the opportunity within the refugee communities, as well as help you design appropriate tools and/or programs to include refugees. Do you have a technology that matches people skills with existing employment opportunities? Why not add refugees and their skills to your platform? Does your organization provide individuals and/or small enterprises with technical assistance, microfinance programs and seed funding? Why not expand your market and offer those services to foster startup activity within the refugee camps? Do you have a strong and impactful CSR Department? Why not create job opportunities for both refugees and their host communities?
2. Do our part to restore autonomy. From the 65 million refugees, only 107,100 were resettled in 2015, which means over 64 million are still living in camps. These camps are a very important support system structured to deliver food and shelter in an efficient organizational form, and it’s true that some refugees still need this temporary help. However, for most of them the priority is quite different, which is — just as ours would be — to restore autonomy. Refugees nowadays do not have the luxury of a short-term solution, because the problems they are fleeing are likely to last for a long time. So we should do what we can to make autonomy less grim: Our businesses should be generating the jobs that refugees could do from camps, and we should be helping them enter the workforce by providing vocational training and language skills that happen while they are living in camps. We should also be helping them find work to get on their feet from the moment they step into a refugee camp.
3. See their qualifications as an opportunity. As listed in the MPI's profile of Syrian immigrants fact sheet, many come from well-educated backgrounds. However, those who do have formal qualifications might lack documentation, which would lead to very little information available on their professional skills. The lack of a systematic and comprehensive skills assessment for this group is clearly a huge unmet need, but we can also choose to see it as a market opportunity. Small innovations can be huge and entrepreneurs who identify unlikely candidates are able to get a head start.
4. If your organization is already working on strategies for labor market integration of refugees, make sure you are not using the usual game plan such as posting jobs online or recruitment through networks, because these channels generally do not reach refugees. Your strategy must involve creating initiatives to link businesses with local employment services, NGOs, reception centers and civil society to facilitate the matching process between refugees’ skills and local demand, as well as ongoing support after initial work placements to ensure long-term employability.
5. Know that while public policies play a key role in facilitating the integration process, providing transparency and creating more access to information on refugees’ right to work, the private sector, together with NGOs, can make a critical contribution. This contribution can be made by calling to action individuals and organizations you know and offering practical information on the business case for employing refugees, which can help improve the understanding of the challenges faced by employers when employing refugees and identify good practices in overcoming them. All of this information exists and is out there already: We just need to become a more engaged entrepreneurial community.
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143248864ca4a1d40a804fb925f2d891
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https://www.forbes.com/sites/forbesnonprofitcouncil/2017/10/24/how-to-create-more-effective-nonprofit-social-media-content/
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How To Create More Effective Nonprofit Social Media Content
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How To Create More Effective Nonprofit Social Media Content
When I use social media, there are pages I return to each time I sign on and then there are those I've stopped looking at altogether. As the head of a nonprofit organization, it got me thinking about why I was drawn to certain pages on social media more so than others. After all, I wanted more prospective donors and volunteers looking at my organization's page as well as people who could be assisted by our grief organization.
From testing out various types of content on my nonprofit social media profiles, I found some information and approaches that were much more effective at getting engagement from my audience. Here's the type of content that I discovered works best.
Content That Asks
Asking for input and information from my community of social media followers serves multiple purposes. One, it is a way to generate original content without having to create it in-house. All we need to do is think of what to ask them, then our followers do the rest. Second, this tactic is more engaging for the audience, who want to feel like they have a voice. It's why they are looking at a nonprofit social media page — they want to be part of a cause and make a difference. Therefore, it's good to ask their opinion. Third, asking also provides insights that help us understand our audience better.
In looking for things to ask to generate this nonprofit social media content, some ideas include the following:
• What they care about in terms of the issue your nonprofit represents or backs
• Decisions related to the nonprofit and what it could be doing better or differently
• A poll that asks for opinions related to your nonprofit's focus
• A news story about a specific issue that relates to your nonprofit area where you can then ask for reactions
• Job openings and volunteer opportunities where we ask for talent to join us
• A livestream Q&A with your audience that allows them to ask you questions about what you are doing
Content That Informs
I know that I and others visit social media pages and profiles because we are looking for additional information that a website doesn't include. Some ideas for nonprofit content that informs include a graphic, photo, and background information on a certain anniversary or awareness day related to your organization.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
You can also create informative content around policy issues, news from other organizations and any published research and statistical data related to your nonprofit's cause. Quotes and information from thought leaders in your space are also good approaches to effective content development for your social media profiles. There is even an opportunity to ask others in your industry to guest post or tweet for your social media pages and profiles.
Content can also inform specifically about your nonprofit in terms of what donations specifically accomplish. This involves telling stories about certain people or organizations that have been helped by these donations. Your donors and volunteers might also want to know more about how your nonprofit operates. That's why we regularly share photos of our offices and our participation in conferences. It gives them insight into what we look like, what our days are like and how we work. Plus, this is easy content to generate because it involves what we do every day.
Content That Inspires
The point is to engage your audience and get them at an emotional level. That means your content has to be inspirational and moving. It can even pull at the heartstrings. Here are some ways we have been able to incorporate inspirational content:
• Visual content, including photos and videos, is the best type of content for inspiring audiences. We've used photos and videos to tell stories of those we have helped and included events that show our volunteers and donors. When they see themselves in these photos, that creates further inspiration to continue engaging with our nonprofit.
• Notes, letters and screenshots of emails that we have received that show how someone was helped or touched by what we offer has also made a great impact.
• A donor or volunteer spotlight is a way to inspire others to participate more or get involved for the first time if they have previously been hesitant. The audience can connect with those featured in these spotlights. Plus, it illustrates that you truly value those who help your nonprofit.
Select, Rotate and Measure
There are numerous ideas here for your nonprofit but it doesn't mean you need to incorporate them all at once. Also, not all content is relevant for each type of social media profile. Do it in a stepwise fashion and rotate the content across the social media profiles that are conducive for that type of content.
Lastly, use every analytical tool possible on these social media sites to assess how each content type and campaign resonates with your audience. This will also shape future content on your social media pages and profiles. Remember: the more content that you can get your audience to generate and then share, the better return you will get for your nonprofit social media efforts.
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681ed9d4f3575163a93b18671019e092
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https://www.forbes.com/sites/forbesnonprofitcouncil/2017/12/21/financing-social-entrepreneurship-how-to-close-the-opportunity-gap-for-marginalized-groups/
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Financing Social Entrepreneurship: How To Close The Opportunity Gap For Marginalized Groups
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Financing Social Entrepreneurship: How To Close The Opportunity Gap For Marginalized Groups
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Social entrepreneurs Chuck Slaughter, Barbara Bush and Eric Reynolds are individuals that have a few things in common: They have raised millions in financing to combat very real and important problems (e.g., last mile delivery of medicines in Africa, engaging youth in global health and clean cooking for Rwandans), they have created strong and reputable models that have won acclaim, and they are privileged, wealthy, white Americans who have had no trouble raising capital. This is not a slight — this is simply a fact.
Let me be clear. These entrepreneurs are deserving of the capital they have raised to solve the problems they sought to solve. The question is not whether they are deserving of capital, but of whether an English-as-a-second-language speaker, who grew up in a developing country without wealth, who may have the exact same business model, would also succeed at raising capital for their social ventures. The answer is probably no, which is a case in point of the inequality of opportunity theory: that your birth lottery affects your level of obtaining opportunities, regardless of intelligence and determination.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
MIT D-Lab conducted a study where they did a comparative analysis between five social entrepreneurs solving the problem of lack of modern fuels for cooking in Uganda. Researchers found the following: The foreign founders raised five times as much capital as the local founders, that the “foreign founders had high levels of experience, extensive education and strong international networks, which generated high levels of business expertise … Limited in network and access to external capital, local [founders] are unable to generate the financial resources to bolster that component of internal capacity."
So how do we decrease the inequality of opportunity gap between social entrepreneurs from the global north and global south? Here are a few suggestions for investors and connectors:
Give them your time. If a social entrepreneur from a developing country and/or a woman of color social entrepreneur from developed countries requests time, a meeting or even an email reply, do it. Even if it’s not a fit for your financing, just having the connection creates an open door for an entrepreneur who has a difficult time expanding their networks. Consider this -- if Barbara Bush or an Ethiopian woman entrepreneur crafts the exact same email to you, Barbara should not get a quicker reply from you if you truly care about social innovation.
Provide feedback. Feedback is essential. Too often, social entrepreneurs from the global south rarely receive mentorship or guidance on their business models. Few are exposed to design thinking. Offer feedback on their applications and ways they can improve. Do this especially if you reject their proposal.
Open doors. Be willing to make introductions to less privileged entrepreneurs. Linkedin says that if a common connection makes an introduction, decision makers are 80% more likely to respond.
Diversify your investment team. Inclusivity matters. Creating a homogeneous team of Harvard MBA impact investors sitting in New York or Silicon Valley is not diverse. If you are investing in emerging markets, hire investors from those markets. Don’t simply offer one of your American Harvard MBAs an expat package to Bangkok. Acumen has done a great job of diversifying its investors, with a good gender ratio and with most of the investment decisions coming from investors from those countries.
Provide support to incubators and accelerators in developing countries. If you are an impact investor or donor, consider supporting accelerators and incubators that deliberately target less privileged social entrepreneurs that foster the innovation ecosystem in developing countries. Here are a few great options to get you started: Unreasonable East Africa, Invest2Innovate, UnLtd India and Upaya Social Ventures.
We already know that talent is everywhere but opportunity is not. The same is true for innovation. If we truly want to make an impact, we all need to do our part in making the opportunity gap smaller for social entrepreneur founders.
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d17280f55f3ad871c5f9cb857a3d290c
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/01/09/the-must-attend-nonprofit-conferences-in-2018/
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The Must-Attend Nonprofit Conferences In 2018
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The Must-Attend Nonprofit Conferences In 2018
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In 2018, one of my personal goals for my nonprofit is to attend more conferences directed at improving my organization and enhancing my knowledge of the various aspects of my nonprofit, including marketing, technology, strategy and processes. Conferences will provide me with the information from experts that I can take back to my organization rather than trying to reinvent the wheel. These events will also connect me with numerous thought leaders who may also have recommendations for me, making trekking around the country well worth it.
Here are some of the 2018 nonprofit conferences I'm considering and why arranged in chronological order. I'm not affiliated with any of the conferences.
The 2018 Nonprofit Organizations Literacy Workshop
This is a great meet-up style event that focuses on workshops and networking to cover the issues that impact nonprofits more than for-profit businesses. The small group format allows for more interaction, questions and learning. The Nonprofit Organizations Workshop will be held in Austin, Texas from January 17-19 at the Four Seasons Hotel.
2018 Washington Nonprofit Conference
This is a nationally directed conference design to help with fundraising and marketing strategies. The Washington Nonprofit Conference occurs February 21-23 in Washington, D.C. at the Renaissance Hotel. Those in attendance will share their ideas and tactics so that you can take these and incorporate them into your own strategies. This conference dedicates a significant amount of time to networking, which has provided me with talent and direction within my own nonprofit.
Cause Camp 2018
This two-day event in Lincoln, Nebraska on March 26-27 is two parts inspiration and two parts education. The Cause Camp includes numerous guest speakers, networking opportunities and learning to take back to your organization and apply for greater success.
The 2018 Nonprofit Technology Conference
Held in New Orleans from April 11-13, the Nonprofit Technology Conference includes seminars and networking events geared toward the various types of technology that can be implemented within a nonprofit organization. There are also numerous pre-conference events on April 10th that add further opportunities to get information from technology leaders and nonprofits that are currently using some of the most advanced technology available today. This is critical because existing and new technology can reduce costs and labor to operate more efficiently and maximize how donations are used.
2018 Nonprofit Talent And Culture Summit
Finding the best people to join and stay with your nonprofit is a competitive advantage is easier thanks to this conference. It will be held in Washington, D.C. at the Washington Marriott Metro from April 18-20. The workshops, panel discussions and networking events are aimed at topics like diversity, leadership, motivation, productivity and culture.
American Marketing Association 2018 Nonprofit Marketing Conference
Held July 16-18, the AMA's 2018 Nonprofit Marketing Conference will be at the Fairmont in Georgetown, Washington, D.C. The conference is dedicated to helping nonprofits understand how they can implement more effective marketing tactics on a smaller budget but yet make a significant impact. This includes learning about the latest marketing technology to incorporate that is designed to maximize this do more with less strategy.
The 2018 Nonprofit Innovation & Optimization Summit
If you are looking for information on fundraising, nonprofit and donor trends, and nonprofit issues and challenges in the coming year, then you need to attend this unique summit in San Antonio, Texas from September 27-28. The Nonprofit Innovation & Optimization Summit focuses primarily on fundraising strategies, including the use of online marketing, social media marketing, search marketing and more. It's an important event solely for the valuable information related to innovative marketing tactics and platforms that have emerged in the last year.
2018 Nonprofit Storytelling Conference
This event is not about writing. Instead, it is directed at donor engagement in order to boost donations and maintain a solid stream of financial and in-kind support for your nonprofit. The Nonprofit Storytelling Conference will be held in Orlando, Florida at the Hyatt Regency Orlando from October 15-17. This event offers value-added features like conference content available on video that you can take back and share with your team as well as a private Facebook group to continue networking with attendees long after the event is over.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
How To Approach Attending Nonprofit Conferences
To get the most out of each nonprofit conference you attend in 2018, it's a good idea to spend time in advance researching each conference. This includes what is involved, the type of return on investment you might receive for attending and whether it fits your budget and timeline for the coming year. I spend a lot of time finding out if the content and agenda will address the issues I've identified in my nonprofit that need further assistance.
When I do plan to attend conferences, I always sign up for the early bird rate and start booking travel to get the best deals possible. Before attending, I select the workshops, panels and events I want to attend and learn more about those participating so I can get the most out of them. While nonprofits do operate on a very tight budget, these nonprofit conferences understand that and do their best to minimize the cost and maxmize the return.
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/03/19/tips-for-nonprofits-how-to-promote-professional-growth-among-your-team-members/
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Tips For Nonprofits: How To Promote Professional Growth Among Your Team Members
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Tips For Nonprofits: How To Promote Professional Growth Among Your Team Members
One of the most important parts of being a good leader is encouraging professional growth in your team members. Photos courtesy of the individual members.
Having a professional development plan in place at your company can help your team grow in their careers and advance their professional skills. As your team members gain from learning additional skills, your nonprofit will benefit from their ability to take your organization’s goals to the next level.
Promoting personal and professional development within your organization also helps to keep your employees engaged and satisfied with where their careers are heading. They will stay with your nonprofit longer and perform at higher levels, benefiting them, your business and the cause you support.
Thirteen members of Forbes Nonprofit Council share the ways that they promote personal, professional growth among their organization’s team members. Here is what they recommend:
1. Celebrate Passion Projects
To engage more effectively with your team, recognize and celebrate their personal and professional interests. Whether it's launching a book club, training for a triathlon or taking up knitting, we all have passion projects. Take the time to ask about them, facilitate after-work meetups, and celebrate your staff's personal and professional growth triumphs just as you would with other milestones. - Ana Pantelic, Fundación Capital
2. Understand Their Goals
To promote personal and professional growth among my team, I seek to first understand their goals to help support achievement of those goals. Second, to help them stay accountable and committed to their goals, I've incorporated their personal/professional growth strategies into their performance plan, with the hope that, at least once per month, they're working towards bringing them to fruition. - Errika Moore, Technology Association of Georgia Education Collaborative
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Offer Resume-Enhancing Training
During our digital transformation, we’re holding enterprise-wide, resume-enhancing training on new platforms. We build training resources into our budget; encourage staff to participate in online education and earn industry designations; offer opportunities for team members to attend conferences on their areas of expertise and manage committees; and contribute to our content library. - Peggy Smith, Worldwide ERC
4. Trust Your Team
As a partnerships team, we ensure everyone is able to see our work in the field every 12-18 months. We encourage collaboration, and "teaming up" outside of the line-management structure. We offer a formal program for temporary assignments in other areas of our business, and all of the team members are encouraged to take on a special project or stretch assignment each year. - Kevin McAndrew, Save the Children
5. Offer Flexibility
Developing talent is a key pillar of our work because sustaining growth and prosperity in a community requires a focus on talent. We support our staff by offering flexible work schedules, paid personal and volunteer days, as well as attendance at specialized trainings to ensure we maintain a culture of collaboration, service and excellence. - Alejandra Guzman, New Orleans Business Alliance
6. Have A Growth Mindset
We always talk to our team about having a growth mindset. If you are not learning, you are not growing, and every day gives us a chance to learn something new. Having yourself set in a mental space to be open to learning is key to seeing those growth opportunities when they present themselves to you. - Sara Dawdy, Mission 22
7. Create A Supportive Work Environment
We fully support employees by cultivating an environment where developing a career plan is not only encouraged, but expected. We want employees to grow in their role with us, but also as individuals as they progress in life. We strongly advocate employee participation in opportunities that foster professional growth, and we also invest in staff training, team building activities and mentoring. - Chip Rogers, Asian American Hotel Owners Association (AAHOA)
8. Invest In Your Team
Team members need to be given the opportunity to grow, supervised but not micromanaged, and provided with room to make mistakes. Sending them to an industry conference or utilizing webinars can also be very helpful in getting new perspective and growth. - Amy Sewell, Douglas Shaw & Associates
9. Offer Leadership Coaching
Every team member gets matched with an executive coach for a minimum of 12 sessions of free leadership coaching. We make sure that their coach is external to the organization so that our team truly gets to advance in their professional development irrespective of their current role. Additionally, we give our team the benefit of trust. We have flexible work hours and unlimited vacation with a two-week minimum. - Kristine Sloan, StartingBloc
10. Treat Your Staff Like Leaders
Treat your team like the subject matter experts you've hired and trained them to be. Ask your team for advice when making organizational decisions and give them freedom to change a process that's been in place for years. This type of responsibility will have them constantly thinking of ways to do things better. When you treat a person like a leader, they'll become one before they've realized it. - Lindsay Crossland, The Salvation Army
11. Share And Promote Development Opportunities
Each month, we put together upcoming online and offline courses, podcasts and classes that are available, that we recommend and encourage our team to participate in. Then, we ask that they share their experiences and what they learned from attending. - Gloria Horsley, Open to Hope
12. Promote Growth Across The Organization
Our organization began putting an intentional focus on personal, professional growth by adding it as a measurement in our strategic plan. A committee comprised of diverse staff from all levels was created to solicit feedback from employees about their growth needs and plan and implement employee development days at least twice a year. External trainers are brought in for these days and all employees are expected to attend. - Robin Corak, Multi-Service Center
13. Offer Access To Industry Leaders
We love helping our team grow as professionals. We find key leaders on any issue -- human rights, animal rights, women's voices, anti-corruption, arts advocacy -- and invite our team to join! Show the team you care about them. Invite them to events, introduce them to industry leaders and provide access to critical issues of our time. - Pamela Hawley, UniversalGiving
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/03/26/consider-these-factors-before-making-your-next-charitable-donation/
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Consider These Factors Before Making Your Next Charitable Donation
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Consider These Factors Before Making Your Next Charitable Donation
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We tend to think about donating to a charity as an end-of-the-year activity. In fact, 16% of organizations say they receive more than half of their total contributions for the year between the months of October and December. And 11% of online charitable donations will be made in just the three final days of the year.
With so much money changing hands in such a short period, donors can feel overwhelmed and charities pressed to make sure they achieve fundraising goals. But this need not be the case. Donors can take control of their giving by making donations throughout the year.
Committing to spreading your giving efforts throughout the year allows you the following benefits:
Better Budgeting: By not waiting until the end of the year, donors can take time to budget their charitable donations. Creating a budget can help donors avoid the feeling of guilt that comes when unexpected expenses derail year-end giving plans, and it's also easier to see where donating to a charity fits among financial priorities. To stay on budget, most charities have monthly recurring donation programs that you can sign up for, too.
Time To Select Causes: Not every cause will matter to every donor. Most of us have certain causes that matter to us and often receive the bulk of our donations. While it's certainly possible to know this at the end of the year, it doesn't hurt to give yourself more time to decide on what matters most to you. It's also possible that our giving may shift to new causes when we allow ourselves this time to reflect.
Time To Select Charities: We may have figured out which causes matter most to us, but choosing the right charity can be even more difficult. Many organizations work toward the same issues, but not all have the same focus, values, performance or trustworthiness. By thinking about charitable giving throughout the year, you give yourself more time to select charities you believe can best address the causes that matter to you - and give wisely.
Giving wisely involves research into the charities that support the causes you are passionate about and making time for a little bit of research goes a long way. Most donors will not do this before giving though, as only 38% report researching at least one charity a year before donating, and only 9% compare charities. Consequently, most of us are donating blindly, basing our decisions entirely on the appeals we receive from charities.
When we research, we avoid scams and poor performers and ensure we reward effective and trustworthy charities that share our values. We bring good charities the recognition they deserve and hold bad actors accountable to a higher standard. The effects of research, however, ripple outwards and beyond just donors and charities.
As the president of an organization with a mission to help donors make more informed giving choices and ensure that charities are held to high standards, I have seen the benefits that informed donors have on the nonprofit community. This incentivizes charities to enhance transparency and efficiency leading to solved problems and civil society wins.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
Don't Confine Your Choice To Only Charities That Ask
If you are like most contributors, you will donate to charities that send you an appeal for support. Consider expanding your giving universe by seeking out organizations that align with your passions. With a little research, you might connect with local or national groups that inspire your generosity in new ways.
But be careful of like-sounding charity names. There are hundreds of charities with "cancer" in their names, but how many of us know how they will address cancer? Are they doing research? Are they providing services to those with cancer? Are they sharing information to help us live healthier lives? Are we even sure we have the charity's name right? Donors should know the answers to these questions before making a gift.
Consider More Than A Passionate Story
It's valuable to look beyond the story in a fundraising appeal to see what specific activities the charity has identified to help address the problems it describes. When you read an appeal, look to see if the charity includes: facts about its past successes, specifics on exactly what it will do with your donations, authentic assessments of what it would like to do better and even stories of its failures. Also, find out if the charity has ideas they intend to implement that align with new ways of getting things done.
If the charity is local, you might even go visit and meet with the staff to gain an understanding of how the organization goes about its work. You can also volunteer your time and learn more about the charity in the process of helping to make a difference.
Finally, research what third parties have to say about the charity, such as monitoring organizations and government regulators. These evaluations can provide a look into a charity's finances, governance practices, transparency, appeal accuracy and more.
Taking time to research before donating is key to getting the most out of your giving. By making gifts throughout the year, you have more time as a donor to get it right.
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/04/05/seven-tips-for-nonprofits-looking-to-leverage-influencer-marketing/
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Seven Tips For Nonprofits Looking To Leverage Influencer Marketing
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Seven Tips For Nonprofits Looking To Leverage Influencer Marketing
The vision and mission of your organization should be shared and embraced by your influencers. Photos courtesy of the individual members. Influencers are an ideal way to leverage your brand and get the support of millions of followers and fans with ease. Having an influencer tout your company’s products and services makes sense in today’s world of social media and follower platforms. But how does this translate to the nonprofit sector? According to figures compiled by Statista, influencer marketing outperforms any brand marketing initiative, taking 39% of the market. This shows the benefits of having an influencer stand behind your brand, and with the right strategy, a nonprofit organization can also get the donations and support it needs from an influencer’s followers. Seven members of Forbes Nonprofit Council share the best practices for nonprofit organizations that wish to leverage influencers in marketing campaigns. Here is what they recommend: 1. Ensure They Are Genuine One best practice for leveraging influencers is ensuring they are genuine. A sincere testimonial from an influencer provides authenticity to the relationship and, more importantly, credibility to the organization's brand. Leverage authentic, organic relationships for influencers -- relationships being the keyword. Build relationships and not transactions with your influencers. - Errika Moore, Technology Association of Georgia Education Collaborative 2. Find Influencers Who Believe In Your Focus It's critical to find those influencers who have some connection to what you are doing. For example, since we are a grief foundation, it's important to have influencers who have been there and experienced it so they can speak from the heart. This is not something you can pretend and come across authentically to donors. It has to be specific and meaningful. - Gloria Horsley, Open to Hope Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify? 3. Work Through A Probationary Period The right influencer can provide an immediate awareness or funding bump to an organization, but the wrong influencer can cause irreparable harm. Work through a probationary period with a potential influencer and encourage hands-on support within your mission and programs. Their audience will be able to see the genuine care and ideally become a direct supporter of your cause. - Glenn D. Banton, Sr., (OSD) Operation Supply Drop 4. Focus Messages On Specific Audiences We have different audiences so getting the right message out is key to making a connection. Influencers are helpful in amplifying our campaigns in their social media networks (via Instagram, Facebook and Twitter). Some influencers love water, some sanitation, some women/girls, some schools, etc. We catered the messages to what they can genuinely support. It is a win-win! - Eleanor Allen, Water For People 5. Keep Everything Transparent One best practice nonprofit organizations can leverage in influencer marketing campaigns is keeping it all in the light or transparent. To avoid any potential legal issues, be transparent with creative content that highlights the partnership between the influencer and the nonprofit organization. - Anisa Palmer, I Will Survive, Inc. 6. Have Influencers Retweet Your Messages We often want influencers to speak about our efforts. That's a good idea. Equally powerful is if they retweet or promote ideas your social media team has put forth. That puts a stamp of credibility: They like what you are doing and are endorsing your knowledge, expertise or service. - Pamela Hawley, UniversalGiving 7. Align With Influencers Who Share Your Vision First and foremost, align with influencers who share your vision and purpose. As your own business strategy lines up with theirs, influence becomes less of a marketing tactic and more of an authentic, collective dialogue that reinforces natural messaging and shared beliefs. - Peggy Smith, Worldwide ERC
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/04/16/three-ways-to-craft-a-nonprofit-model-that-appeals-to-millennials/
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Three Ways To Craft A Nonprofit Model That Appeals To Millennials
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Three Ways To Craft A Nonprofit Model That Appeals To Millennials
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Millennials don’t like to be told what to do. I should know -- I am one. I’m also the founder of Human Heritage Project and CEO of the National Rongxiang Xu Foundation, which is why I feel compelled to inform my peers that the world needs their help.
As a young generation in the throes of adulthood and armed with $600 billion in annual spending power, according to Accenture, we expect more from our nonprofits than older generations did. We don’t donate at the office and forget -- we invest in the causes that interest us. That means we expect the nonprofits we invest our money in to be transparent because we care more about issues than we do business -- and we’re willing to take our time and money elsewhere if a nonprofit doesn’t deliver.
Unfortunately, most nonprofits haven’t adapted to this shift in mindset. Millennials want nonprofits to engage them instead of just hitting them up for a check each month. More importantly, we want to be able to quantify the effects we have on the world. To bridge this gap and keep your philanthropic efforts viable, nonprofits must learn how to work with a more hands-on generation.
Bring Millennials Into The Nonprofit Fold
Our generation values experiences more than objects. In general, we’d rather splurge on a getaway weekend than on a new television -- a mindset that also extends to nonprofits. We don’t want to give and forget; we want to buy in and make an impact.
But appealing to millennials doesn’t require nonprofits to do a complete overhaul. Nonprofits can maintain their current momentum and bring millennials along for the ride by adopting a few different strategies.
1. Look To The Future
In my experience, millennials prefer nonprofits that make their impact by funding the future. I once worked at CGI University, founded by the Clinton Foundation, and I learned a great deal about how the organization manages to garner the attention of young people through unique educational opportunities.
During my time with CGI University, I met students from all around the world who shared their visions and ideas with fellow students, experts and leaders in business and social spheres. I matched with Abhilash Mishra, an Indian student from the California Institute of Technology who was helping his fellow citizens gain better access to science, technology, engineering and math education. During our collaboration, he received his doctorate and saw his vision bear fruit -- he now serves as the director of the Kevin Xu Global Initiative on Science, Technology, and Inequality.
The more nonprofits invest in people like Mishra, who have great ideas but need help to achieve them, the more attention they will receive from millennials. Identify forward-thinking initiatives that appeal to millennials and find ways to steer your nonprofit in that direction. Organizations that show a willingness to do this will see millennial buy-in increase.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
2. Demonstrate A Shared Investment
After Mishra finished his doctorate and we parted ways, he moved on to the University of Chicago. While there, he worked in the Harris School of Public Policy, where he created an educational outreach program to help Indian students grow in science, technology, engineering and mathematics (STEM) fields.
Millennials crave access to resources that help them transform their existing passions into measurable impact -- something I have found to be true in my work in the nonprofit community. For nonprofits, this concept is easy but it takes some effort to employ effectively.
You can get millennials involved by offering research opportunities or hosting conversations with experts. Introduce their mentees to other mentors that share the same value but can provide more resources and experiences. Encourage them to apply to attend competitions that act as real-life training on how they present their ideas. And consider taking mentees on business trips so they can observe a variety of real-world circumstances.
Give millennials the tools they need to further their personal dreams and they will multiply the impact of the nonprofit mission.
3. Strengthen The Vision
Millennials identify with the brands they purchase, and that goes double for nonprofits. I have personally seen the reaction of youth after they've been inspired -- it's stunning to see the vigor and passion that motivates them. Because of this, they want to share a vision and a voice with an organization that cares about the same things they do.
At Northeastern University in Boston last year, Mishra took the stage to talk to students about his experiences. David Markovich, a student of mine from University of Southern California's Leonard Davis School of Gerontology and a current assistant in the Rongxiang Xu Regenerative Life Science Lab, was inspired by Mishra and others who presented. He told me after the meeting that he wanted to use what he learned to help others achieve their goals, like Mishra did, in his own areas. The strong vision shared by Mishra inspired Markovich (and, hopefully, a few others) to use their talents for the greater good.
Strengthening your vision with millennials is all about presenting your mission with consistency, purity and passion. Genuinity and authenticity will lead to transparency if you view both traits as top priorities in your nonprofit. It's not just what you believe -- it's about how you demonstrate your beliefs to your stakeholders.
Before long, millennials will run most of the nonprofits in the world, just as they own much of today's purchasing power. Until then, however, nonprofits must learn what millennials want from their investments and partnerships, then provide those things to create more impactful unions. By following these strategies, nonprofits can not only expand the effectiveness of their programs but also attract passionate millennial talent to their organizations.
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/04/17/five-ways-you-can-use-your-social-media-accounts-to-make-a-major-impact/
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Five Ways You Can Use Your Social Media Accounts To Make A Major Impact
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Five Ways You Can Use Your Social Media Accounts To Make A Major Impact
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With 800 million monthly active users, 95 million photos and videos each day, and 4.2 billion "likes" daily, Instagram has managed to attract 25 million businesses to its social media platform. And by 2019, there will be nearly 2.77 billion social network users total around the globe.
The world today is more connected than ever, information and content are cost-free and know no borders, and yet a majority of the population still is unaware and disinterested about the social and environmental challenges that our world is facing. Very few of us realize that we have, in our everyday actions and quite literally at our fingertips, the ability to alleviate these challenges. There is great power in the influence people and organizations carry, and with social media and technology to spread awareness, unite our efforts and co-create the best recipe for positive change, it’s time we start using our influence for the betterment of our planet.
If you have an impact-driven organization and a social media account, start working strategically to use this platform to connect with the hearts of your community and shift public awareness on key issues. Social media can help transform the 60,000 or 20 million fingertips that scroll down your pages every day into an army of 60,000 or 20 million change agents facilitating the process of development, helping you scale your impact and making this world a better place. And if you treat your community with respect and recognition, I can guarantee you all the other social media goals your marketing team has in mind will be accomplished.
Wondering what next steps you need to take to do so? Here are some tips to build an online loyal, empowered and engaged community that truly cares about what you do and that can help you drive attention to the causes you care about.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
Be human. When all things are very similar (and in the competitive world we live in today, things almost always are), people are more interested in learning who you are as a human being, or who the humans are that make up your team, before they decide to support the products or services you offer. The people we admire and who give us our most important life lessons become our role models -- rarely do we feel the same about a brand. So let your team inspire and motivate your community.
Be genuine. Staying true to yourself when everyone else is trying to be someone else will also make you stand out. Don't hesitate to share challenging times and hardships. On social media, everyone looks successful and fulfilled, but no one's life (or organization) is like that every day. The brands that are willing to show the good, bad, ugly and beautiful are the ones we trust, follow and engage.
Value your community, no matter its size. If you have a voice and a platform where people listen, even if the number of people is very small, it's not just your responsibility to speak up about things that matter -- it’s your opportunity. Don't only start caring and strategizing your social media when you hit a certain number of followers. Value your community now and make sure they feel valued, no matter how many people are part of it. Be honest and truthful and in this way, you will build a meaningful and strong foundation for your platform from the start. If your current community respects and believes in your work, you will have a greater shot at being impactful and successful in the online world.
Build win-win relationships. Post high-quality content regularly. Don’t exhaust your community with passive or guilty content -- let them know about the world’s problems in a way that makes them feel empowered to create change with you. To do so, treat them like the ambassadors of your work (they get to know first about a new project, product line, event, etc.) and encourage them to be active members of the community (ask for their opinion, brainstorm with them, etc.).
Focus. Many organizations try to explain too many benefits or reasons to join them on their mission, but the truth is that people choose you for one reason that appeals to them most. What is the one thing that differentiates and distinguishes you? If you could only give one reason to join your community, what would that be? If you're not sure, text 10 members of your community and ask them why they chose you -- and start building your army of change agents from there.
Across communities and industries, social media is going from a “nice to have” to an essential component. And this growing love is not just changing the way we communicate, it’s also changing the way we interact with each other, how we do business, the way we are governed and the way we live in society. So let's allow it to also change why and how we are using our accounts online -- if not for the sake of intentionally leveraging this powerful tool to make our world a better place, then for not taking for granted the millions of hearts and minds who are ready to actively create change with us.
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/05/02/monitoring-and-evaluation-the-key-to-making-strategic-nonprofit-decisions/
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Monitoring And Evaluation: The Key To Making Strategic Nonprofit Decisions
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Monitoring And Evaluation: The Key To Making Strategic Nonprofit Decisions
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In my last article for Forbes, I cited a quote from Melinda Gates that is telling for anyone who works in the development sector: "We cannot close the gender gap without first closing the data gap." While that article focused on why hiring more women will make your organization more dynamic, this time I would like to focus on the importance of closing the data gap in development work.
Putting time and resources into proper monitoring and evaluation (M&E) from the start is vital to a solid foundation. I think it is important to start any project with a thorough baseline survey of the beneficiaries you are targeting, and then do follow-up M&E to make sure your programs are hitting the mark. Without this, you will likely make too many assumptions -- often based on personal and/or cultural biases or experiences -- about how you can serve your communities effectively. And without good data describing how your efforts are impacting your mission, it’s tough to plan thoughtfully and strategically, inspire your team, be accountable to donors and steer an effective course for your organization’s growth. Most importantly, it’s hard to improve livelihoods unless you know your efforts are cost-effective, practical for the beneficiaries and truly lifesaving.
Our M&E at Maji Safi Group (MSG) centers on a holistic team approach with our staff, U.S. graduate students and board members involved, as needed. However, whether your M&E efforts are done internally, with involvement from your board or by an external consultant, the analysis is vital to the success of your organization and its mission in these four ways.
Measuring SMART Goals
Proper M&E systems and requirements ensure that programs are implemented in a strategic manner. When you know what you want to measure, you can make SMART (specific, measurable, achievable, relevant, time-bound) annual goals for your organization and really see what you are achieving. Making these goals year after year and assessing your progress and setbacks can help you focus your efforts to build on your strengths, as well as respond to what’s not working.
For instance, when our organization evaluated how well we responded when the Tanzanian government called on us during cholera outbreaks, we identified key stakeholders to educate and supplies to stockpile with local and state health officials to more effectively help prevent deadly disease outbreaks in the future. Making SMART goals for all 14 of MSG’s programs can take more than a full week each year, but we have found it essential in continuing to improve our accountability and services for five years now.
Making Data-Driven Decisions
Good M&E of programs allows you to make data-driven decisions at all levels of your organization and shows you what weaknesses you can improve on. By identifying efforts that are falling short or areas that need extra attention, your organization can shift its focus to address those concerns -- a needed refocus that might not have been clear without proper M&E.
For example, our organization does an annual health-screening campaign to measure the disease rates of our participants compared to those of community members who haven't received our education. In the past three years, we have seen disease rates of our program participants drop significantly compared to other community members. In 2017, 74% of the community we tested had intestinal worms, while only 12% of our program participants did. In the past couple years, however, we have noticed high urinary tract infection (UTI) rates among participants and have since placed a stronger focus on UTIs in our lessons.
Scaling Programs
In order to reach your potential and scale your programs, you need to be able to show your impact through numbers and demonstrate that your intervention is cost-effective. Having solid data helps you more confidentially measure things within a controlled and closely monitored community of people. Find answers to questions like, "How much good did we do with the dollars invested?" and "Did we have enough of an impact to create more positive behavioral changes?"
Our organization has seen a clear correlation between the investments we’ve made in teaching safe water, sanitation and hygiene (WASH) practices and the health of those we serve, including many children under the age of 5. It’s rewarding in and of itself. But it also helps us fine-tune a viable, cost-effective model to scale into other regions with equally contaminated water and poor WASH practices for far-reaching changes.
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M&E Data Platforms
While creating and implementing a solid M&E system for your organization is a lot of work, these days there are many M&E software platforms that are customizable for your programs, allowing you to collect data through an application and analyze your databases online. This process is also an opportunity to collaborate with new partners to create a symbiotic relationship.
We have found that working on M&E is a great opportunity to collaborate with graduate students and institutions on research projects, giving them valuable experience in the field. This kind of collaboration is also useful for the development sector because it instills data-driven values in the next generation of professionals entering the workforce.
If you asked me about the two most important things to look at to predict an organization's success, I would tell you to ask: 1) What kind of impact data does it collect? and 2) Is the model scalable? These two indicators are closely connected, accomplishable through proper M&E and essential to define for any nonprofit organization.
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0dd061e2c0eb61be5fb13b9a66ece42a
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/05/14/its-time-to-act-on-financial-inclusion-for-a-sustainable-future/
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It's Time To Act On Financial Inclusion For A Sustainable Future
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It's Time To Act On Financial Inclusion For A Sustainable Future
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Interestingly, when Larry Fink, the chairman and CEO of BlackRock, released a letter earlier this year calling for CEOs to start accounting for the social impact of their companies, his call for a better version of capitalism was met with support and skepticism. Some have reacted positively while others have taken issue with his comments.
An old aphorism tells us that “Money doesn’t buy happiness.” Easy to say when you have it -- and in abundance. As someone who has fought for the democratization of capital for those living in poverty across the developing world for four decades, I am encouraged by the progress we’ve made but am also troubled by the thought that time is running out. And though I can’t stress enough the importance of influential people such as Larry coming out in support of a more empathetic and sustainable future, ultimately, our collective actions will speak louder than our words.
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A Bottom-Up Approach To Financial Prosperity
To create lasting change, I have always held to the conviction that investment and financial prosperity must come from the bottom-up, not the top-down. By this, I mean it must be created and controlled by those who actually suffer from poverty and inequality, not simply dispensed by well-meaning hands at the top of the pyramid, either through taxation, charity or both. One could wait a lifetime for it to trickle down in quantities adequate to address the problem. While charity and redistribution should be part of the solution, many of us in this trade believe the real hope lies in market-based solutions.
When FINCA helped to pioneer the microfinance movement in the 1980s, for example, we combined small amounts of capital with huge pools of underutilized labor to enable the poor to solve their own problems. In many cases, it worked -- or it was at least powerful enough to begin to move the needle.
Today, we understand that to adequately address the myriad of challenges the poor face, we need solutions in other sectors that more directly tackle the problems of energy, sanitation, education, health and agriculture. The good news is a plethora of new social enterprises have sprung up to fill these voids with ingenious products and services that are both affordable -- even for the very poor -- and really work. Solar home systems for off-grid families are among the most compelling examples, in my opinion.
But for any of these to reach the poorest, end-user financing solutions need to exist to provide them with the means to purchase these products on terms they can manage. For less than $100, the poor can literally move from darkness to light, from inhumane living conditions to vast improvements.
Creating Impact Pathways
To enact this level of change, we must alter the prevailing paradigm that governs investment behavior. Pioneering actors -- and actions -- are needed to promote bottom-up solutions. Fortunately, industry partners are coming together to help make this a reality. For example, a recent report by the Global Impact Investing Network (GIIN), an organization FINCA International is a member of, presents a vision for building more inclusive and sustainable financial markets. This “roadmap” asserts that changes in behaviors and expectations are needed to shift the role of finance in society.
In this sense, finance is not only about the allocation of investments, but also the availability and accessibility of financial services for those who need it most. Financial inclusion of those at the so-called bottom of the pyramid becomes a key driver for a bottom-up approach. By pairing access to finance with access to basic services, like energy, poor families can raise their own standard of living.
There are some who would argue the limits of financial inclusion on poverty alleviation. However, and as pointed out by Daryl Collins and Amolo Ng’weno of BFA, to think about financial inclusion as only involving one-to-one impact is to do it a disservice. A study on the use of the mobile money system, M-PESA, showed that by looking at financial inclusion in this way, it is easy to extrapolate a weak return on investment in comparison to, for example, health or education. But this ignores the way money is used.
The impact pathways that come from financial inclusion don’t end simply with savings in your pocket or on a mobile device. The financial and social impacts reach out in ever-widening circles. For example, financial services enable and facilitate financial management, savings and education. Financial services also strengthen social networks and enable pay-as-you-go energy schemes which have far-reaching effects.
To prompt this way of thinking -- that financial inclusion can spark a bottom-up approach to create more inclusive and sustainable markets -- we need more voices of influence, like Larry Fink and the GIIN, championing lasting social impact. Combined with a cross-sector collaboration of funders and investors, there is a real opportunity to level the playing field for those who have been left behind by the world’s progress.
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05660e9897782b8f04c12504351b231b
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/06/07/never-underestimate-the-value-of-language-skills-and-participatory-development/
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Never Underestimate The Value Of Language Skills And Participatory Development
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Never Underestimate The Value Of Language Skills And Participatory Development
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In April 2015, Maji Safi Group received word from district health officials of 30 confirmed cases of cholera in the Rorya District in northern Tanzania, where our organization operates. Though cholera has been eradicated in many areas of the globe, countries like Tanzania that still struggle with poor sanitation and hygiene can be easily devastated by highly infectious diseases carried by contaminated food and water.
Our team learned that cholera had already been confirmed in seven area villages and that markets and public gatherings were being shut down to control its spread. We also learned some challenging news. With no additional resources, local government officials were asking Maji Safi Group to respond. It was a tense moment for our young, already stretched organization. This response would require around-the-clock, intense work from all our community health educators (CHEs) and management.
One core strength helped us rise to this challenge with our dedicated team and respond swiftly: local language fluency. MSG cofounder Max Perel-Slater and I are fluent in Swahili. We prioritized these language skills before we founded MSG in 2013 by taking private lessons, 25 hours a week for 10 weeks. Linguistically, the ideal learning situation is a combination of structured lessons and immersion in the language environment 24/7. It worked for us. Drastically different from English, Swahili is not an easy language to tackle, but our time, money and brainpower were well spent.
Speak The Language Of Those You Serve
If you want to optimize the impacts of your global development organization, I can’t stress enough the value of in-depth communications made possible when nonprofit leaders prioritize local language skills. Language skills need to be a priority for international nonprofits and should be something that is invested in. While for some organizations, making language fluency a prerequisite for employment may be a good idea, language is something that can always be learned. I have seen organizations provide their staff with three months of language classes as part of their initial orientations. Good language skills lead to better community engagement and can avoid the potential for things to get lost in translation.
In 2015, the ability to speak Swahili when communicating with doctors, nurses, health officials, mothers and those who’d contracted cholera helped us save lives in northern Tanzania. By communicating with health officials in Swahili, we mobilized to reach the villages with reported cholera cases. Our team of CHEs fanned out immediately and conducted a massive cholera education campaign. The effort included new prevention and treatment brochures that we had developed almost overnight -- all in Swahili.
We quickly realized that many of the people we were serving didn’t know how cholera was transmitted and how to treat it. One day, I sat with two 80-year-old women while CHE Prisca taught them about cholera prevention. While we were talking and they were looking at the brochure, I realized that this was the first time in their lives they had ever learned about the importance of treating their water.
Throughout three different cholera outbreaks in 2015 and 2016, we taught 10,559 people in their homes and around the community. We taught students at 38 schools about how to prevent cholera by treating their water, washing their hands and using proper toilets -- reaching 22,118 students. And we also worked with hospital staff and held radio shows to answers questions from villagers, which reached an additional estimated 42,000 people.
Include All Stakeholders In Development
Good language skills also make it easy to communicate professionally with stakeholders, like health officials and community members, even when there isn’t an emergency. We have always found that locals have the best solutions to preventing water, sanitation and hygiene-related diseases. Consequently, participatory development (PD), involving beneficiaries in developing solutions and making decisions, has been a founding principal and is a cornerstone of our growth. Being fluent in a community’s language not only enables you to go beyond surface exchanges, it builds respect and facilitates lasting change.
Whether we’re responding to cholera outbreaks or growing the reach of our WASH programs in area schools, participatory development coupled with language fluency help us uncover solutions we might otherwise miss. For instance, PD exercises, like community mapping, help local people point out key stakeholders we absolutely need to work with, identify problem areas to focus on and, in turn, reduce disease outbreaks and advance safe WASH practices.
Through other PD exercises, our community health educators were first to make us aware of the need for menstrual hygiene support for young women. PD gives community members the freedom to voice their highest needs for their own welfare and health. It can give your beneficiaries the ownership to contribute to their best solution. Depending on your needs as an organization, there are many different participatory activities that can be found online that you can combine to create a workshop. Additionally, contacting a local social work school is always a good idea since PD is commonly used and taught.
While we could get that dreaded call again at any time, last year we saw no new cholera outbreaks in our district. We cannot begin to claim that MSG’s cholera education campaign is solely responsible for this, as predicting and preventing cholera outbreaks depend on many variables. But we do believe that our participatory development approach is meaningful and has helped build a base of education needed to prevent future outbreaks.
Preventing disease outbreaks can often feel like an uphill battle, but having quality communication makes the mountain easier to scale. When looking at your long-term goals as an organization and how you can maximize your impact, I suggest making language fluency and participatory development two of your priorities. There’s no doubt in my mind that these skills and tactics can benefit other organizations in their missions, too.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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d9872167123d0e5f4b5e8d8e87bf4d6b
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/06/26/the-five-steps-to-building-a-community-for-your-nonprofit/
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The Five Steps To Building A Community For Your Nonprofit
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The Five Steps To Building A Community For Your Nonprofit
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Community is about bringing people together for a shared goal or purpose. Just like brands, nonprofits need to gain support, spread their messages and ensure the longevity of their missions. In today’s battle for attention, building strong communities is key -- it can lead to new talent, your next innovative idea or the ability to galvanize supporters around a goal.
As a regional director at the Hult Prize Foundation and a member of the World Economic Forum Global Shapers Community (GSC), I have seen the importance of building an engaged and meaningful global community in order for an organization to be successful.
The following are five of the most valuable lessons I’ve learned, which you can take and apply as you set up and grow your own nonprofit community.
1. Define the purpose of your community.
If your community doesn’t have a strong purpose that can be clearly articulated, then there is no point in having one in the first place. This purpose not only extends to your nonprofit’s goal but also to who can and should be part of your community.
The first step to defining your community’s purpose is to ask yourself what you are trying to achieve by building one. Reflect on your own organization’s mission, and ask yourself if the community’s mission should be the same or different. GSC, for example, wanted to mobilize young people to make change, so it made the community available to only those under the age of 30. It has a community charter in every city it operates and a set definition for how it does its work.
Defining a purpose is important so that you can send a signal to the rest of the world to let everyone know what you’re up to. This gives the world an opportunity to respond by engaging. It holds you accountable and enables you to measure your performance against the goal you set. Importantly, potential community members will know what to expect and how to contribute.
2. Find great people.
Once you’ve defined your purpose and who you want to be part of your community, you need to pull together a core group of committed people to make it happen. Being thoughtful about who you bring on board matters, and this extends to all levels of your organization -- community members, community management, board members and core staff.
I have found that people work like magnets when it comes to talent and engagement. A+ people do A+ work and attract other A+ people. People who demonstrate B-level and C-level engagement will attract others with B-level and C-level engagement.
GSC seeks to bring in new members who have particular qualities, such as integrity, passion and commitment. The organization’s recruiting process includes a probationary period, which aims to maintain quality. You must also consider what qualities you would like your community members to hold, validate which groups have these qualities and invest time in attracting them.
3. What’s your pull?
Before joining a community, people want to know that they will get out of it what they put in. Your community needs a value proposition, whether it’s meaningful impact, community engagement, knowledge sharing or some other kind of personal gain. By speaking to your community members and target members, you can find out their needs and optimize your efforts to meet them.
As a member of GSC, the appeal is in direct access to other like-minded peers, while also having access to high-level stakeholders in the World Economic Forum. This means change-makers have a network to accelerate the impact of their projects.
Analyze your own capabilities to see what value you can provide to your community. Some examples could include providing access to thought leaders in your nonprofit’s space, operating solution groups around the problem your nonprofit aims to solve or offering volunteer opportunities that have a direct impact with your nonprofit.
4. Let (great) people shape your community.
Organizations do not create communities -- people do. As an organization, you must continuously listen, improve and adjust in response to feedback from your members. This is what will keep people engaged long term.
From my experience, GSC members quite literally shape the community through local projects in local hubs. The efforts of hubs are then showcased globally and rewarded, encouraging more engagement.
Your community needs to have mechanisms to enact self-change. Elect community leaders, set communication channels with the core nonprofit and create autonomy for your community to develop projects. These are three great initiatives to start with. However, it is not only your community that must be open to change. Your organization as a whole must be open to receiving and acting on the ideas of your community.
Empowering your community to make its own decisions means that in both busy and slow times, your community will endure. Slow times are a chance to get feedback, and busy times are a chance to ask your community for support.
5. Keep momentum -- online and offline.
Once you have defined your community and found your people, the last step is the ongoing management of your community. The key is balancing your online and offline efforts. Online is great for reach, but nothing beats basic human interaction for community building.
With GSC, I’ve experienced this through local hub events and regional SHAPE events, which give “shapers” the opportunity to share lessons from their projects and meet other community members face to face.
Offline events help anchor people and get them excited, creating depth within the community. However, not everyone can go to every event, especially when you’re creating communities across continents, so online groups are essential in enabling a community to transcend location.
This simple recipe has led me to connect with new partners and increase my attendance at events. It has also provided me with a platform to share the messages of the nonprofits I am part of. Ultimately, I believe a strong community will ensure a nonprofit stays relevant, has a constant knowledge pool to learn from and understands its target audience.
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efe99f81c749bcce838d7e0b5a6fc39e
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/07/06/ideas-and-execution-two-parts-to-the-foundation-for-societal-change/
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Ideas And Execution: Two Parts To The Foundation For Societal Change
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Ideas And Execution: Two Parts To The Foundation For Societal Change
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We live in the age of information. Just as Peter Drucker predicted, society has rearranged itself, and the Western world, in particular, is now marked by its transformation into a “knowledge society.” The most powerful countries driving that change, meanwhile, are increasingly becoming “knowledge economies”: economies in which growth is dependent on the quality, quantity and accessibility of information rather than the means of production.
The germinal seed of this process is entrepreneurship. Great entrepreneurs, from Andrew Carnegie to Bill Gates, have innovated and pushed society forward in its never-ending search for greater prosperity and the alleviation of suffering. These are big thinkers -- people who can conceive an idea, find the individuals to bring it to life and then take it to the rest of the world.
As the knowledge economy grows, however, suffering and poverty still exist. We must ask ourselves one question: What are we missing? Is it the idea or the execution?
The Idea
Innovators globally lodged some 2.9 million patent applications in 2015, which represents a 7.8% increase from 2014 and a sixth straight year of rising demand for patent protection, according to the World Intellectual Property Organization (WIPO). The rate of innovation has been accelerating, in large part thanks to the diffusion of academic institutions and a rapidly growing population.
I’ve heard some dismiss new ideas as “distractions that cost money.” Indeed, in the era of the ubiquitous think tank and zeitgeist nonfiction like Malcolm Gladwell’s The Tipping Point or Cass Sunstein’s Nudge, there is a kind of idea fatigue, brought about when grand designs fail to lead to tangible change.
But the real question is why do some ideas fail and others succeed? Was it actually the wrong idea, or was it a problem with the execution? In my experience, it can be either and sometimes both -- as in a bad idea poorly executed. (Let’s try not to do that too often.) In any case, it’s critical we understand what went wrong and why.
Let’s give the entrepreneur the benefit of the doubt and assume the original idea wasn’t completely ridiculous, but perhaps flawed somehow in its first incarnation. Should one give up? Try it again and again and hope for a different result?
How about trying a different formulation of the idea and rerunning the pilot? If that fails, try another iteration. Failing often, cheaply and quickly is what many companies do as they try to bring innovations to the market. In this paradigm, failing is actually perceived as a good thing, as you are fearlessly trying out different formulations of the basic idea and eliminating those that don’t work.
By all means, fail then, but remember that failing in and of itself is not the most important thing; learning from failure is what counts, as it prevents you (most of the time, unless you forget why you failed) from repeating your mistakes. Of course, learning from failure has to mean from your own failure -- it will be less painful and less costly if by someone else’s. And never forget you can also learn from another’s success and emulate it. Do not be too proud to admit that someone else took your idea and did it better. Keep a close eye on the competition in your field and where others are succeeding or failing.
The Execution
Now, let’s talk about execution. Poor execution can sink any idea, good, bad or half-baked. But a great idea can survive poor and even appallingly bad execution -- for a time, that is, until the competition wises up and does your idea better, cheaper and faster. Trust me on this. At FINCA, we have lived through both.
When John Hatch and I created FINCA International, we had one of those simple but great ideas: Give small loans to those who need them so they can lift themselves out of poverty -- combine limited capital with a huge pool of underutilized labor, in economists’ parlance. We made thousands of mistakes along the way as we figured out the “how” in doing this, but our efforts disrupted the financial services market and gave way to a movement that improved the lives of hundreds of millions of people.
As we continued the journey and scaled our operations to more than 20 financial institutions on five continents, innovation became less critical, and superb execution took precedent. We had to hire really good people, and train, motivate and manage them well. We went through several upgrades to meet the growing competition.
Great execution comes from great, well-trained people working together. For other nonprofits and entrepreneurs, the key to fixing something when it goes wrong is getting the correct intel about the problem on a timely basis. This is harder than you would think, given that the human reaction to a problem is usually, “I will solve this; I just need a little more time!” So, make sure you have a tight implementation plan with clear milestones. If these are missed, you can ask why and take corrective action on a timely basis.
Ultimately, good execution is, if anything, more important when people’s survival depends on it. Take Puerto Rico after the hurricane as an example. People died because power wasn’t restored, leaving hospitals without the means to treat people with life-threatening injuries. Poor execution can, in fact, prolong the life of the wrong approach since it’s unclear whether or not good execution would have produced a different result.
Today, with the entire financial sector being disrupted by the fintech revolution, our competition is 360 degrees and has us surrounded. Innovation has come back. Superb execution can hold the fort for a time, but it is not enough. We must add new tools to our arsenal while raising our game on the basics: great, motivated people and a laser-like focus on our customers’ well-being. If we can do that, we will remain relevant and play a major role in getting to the end vision -- which for us is a world without poverty.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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7e66072d4099f9e6e867354486bd71c0
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/08/16/the-seven-touch-approach-to-cultivating-fruitful-major-donors/
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The Seven-Touch Approach To Cultivating Fruitful Major Donors
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The Seven-Touch Approach To Cultivating Fruitful Major Donors
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For nonprofit leaders, there is nothing better than a major donor who is committed to your mission and becomes an ambassador for your organization. With proper donor relations, these supporters can help strengthen the foundation of your annual income and introduce you to new prospects.
For these reasons, it is important that you spend the time cultivating your major donor prospects and make sure that you know their motivations and what moves them. Without knowing these factors, you are probably not stretching their giving capacity.
My colleague Brad Brunz and I have discussed this topic at length and, together, have identified seven steps that can help you maximize your donors capacity and provide more funding for the important work that you do.
The First Phase: Plowing The Fields
First Touch: Most organizations feel as though they have already plowed fields and that the donors just want to blossom. However, the reality is that the fields have often only been partially plowed. To start really plowing the field, you should begin with a mailed introduction letter about your mission and be very deliberate in telling them that you are creating a major donor fundraising plan.
Second Touch: Wait for about four weeks and follow up the mailed letter with an email to the same set of potential donors. The language in the email should be almost identical to the language used in the letter. These days, a number of people rarely check their mail (or only open bills and recycle the rest), so this phase allows you to see if they are more responsive when contacted by email.
The Second Phase: Watering The Seeds
Third Touch: At this stage, your donor fields are now plowed and it is time for you to start watering your fields. During your third touch, you are simply trying to engage the donor in some kind of dialogue to assess their level of interest in your organization. One very useful strategy is to create an event and invite several of the major donors you are cultivating.
Fourth Touch: Now that you have an exciting event, you have a great opportunity to follow up with a phone call (or another email if you don’t have their number). Obviously, a number of these calls will go unanswered. There will be some participants or prospective donors who have a deep enough affinity for your mission that they will respond. You now have the first chance to engage them in their familiarity with your organization and assess if they might be willing to strengthen that connection, either by attending the event, having coffee, meeting for lunch or visiting your programs.
The Third Phase: Fertilizing The Seeds
Fifth Touch: Now that you have watered your fields, it is time to start fertilizing them. There are two different aspects to the fifth touch. The first is that a handful of the people you have spoken to are either coming to the event or have agreed to meet you somewhere else. These people have already expressed an interest in your organization and mission beyond volunteering, and it is now your job to deepen their interest and overall level of commitment. Next, it is time for you to identify what about your work interests them and where they feel a personal connection.
Sixth Touch: They key to this touch is finding out what moves them about your organization. If you don’t know that answer, it will be very difficult to get to that place where they are asking you, “How can I help?” The ideal scenario to create with a donor is when you don’t even have to make a specific ask -- they are so impressed with your organization that they want to invest.
The Fourth Phase: Harvesting The Fruit
Seventh Touch: At this stage, you have to make some kind of an inquiry as to whether or not they would be willing to help support your organization in some way. Never ask them at this stage for a specific dollar amount, unless you need a certain amount for a particular project that interests them. If you leave it open ended, you will almost always receive a larger gift than you would have asked for. If their verbal and/or nonverbal messages tell you they are not ready to have this conversation or are not in a position to be of assistance, try to transition them into holding networking events or fundraisers where you can meet their friends, family and colleagues.
By this point, if your donor prospects have continued to be noncommittal, you really need to focus on keeping them informed with what your organization is doing and stay in touch with them periodically. Those who are well informed about your mission, and who have been moved by it, may come around at a later time with contributions to help support your organization. It is now time to shift your primary focus to the next season and cultivate your new potential prospects by following this seven-touch approach.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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104df81828f12a27279a4d95a4773bc5
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/09/21/nonprofit-leadership-how-to-create-a-diverse-pipeline-to-the-top/
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Nonprofit Leadership: How To Create A Diverse Pipeline To The Top
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Nonprofit Leadership: How To Create A Diverse Pipeline To The Top
When I was a young girl, I never dreamed of working at, much less running, a nonprofit organization. I didn't have a framework around nonprofit or for-profit, for that matter. Today, colleges and universities offer students majors in nonprofit management and philanthropy. But there weren't a lot of visible options for me. I didn't see many women in roles of authority aside from teachers, nurses and a few small restaurant owners in my hometown of Charleston, South Carolina. Still, I sensed that there was something different waiting for me.
In high school, I joined the debate team, where I found my voice in the dramatic interpretation and poetry and prose divisions. Public speaking was difficult at first, but with practice, I became comfortable and won several awards. That clinched it. Public speaking in some form was where and how I would make my mark. In college, I majored in fine arts and minored in communications and quickly landed a job in print journalism (my first love was writing, so this was perfect).
I thought I would work in this field until retirement, but after more than a decade as a reporter, I again sensed there was a different path for me. I began working on a book about my family, which led me to leave the newspaper to devote more time to this endeavor. I had a few extra hours in the day, so I decided to volunteer at a local nonprofit agency.
After a few months, my role changed from volunteer to employee, and I saw the dedication it took to keep an organization afloat. The founder, an African American woman, became a wonderful mentor to me. She took me under her wing and gave me more responsibilities, which helped develop my business skills. There were very few women of color in executive positions at that time, and she imparted the importance of paying it forward to help others develop their skills.
The Landscape Today
Women chief executives represent only 23.8% of all chief executives in the country, according to the U.S. Department of Labor Women’s Bureau. When you look at people of color, the percentage of representation at the chief executive level is no better for men or women, according to a Race to Lead survey, an initiative of the Building Movement Project.
What's more, Daring to Lead's 2011 nonprofit leadership report found 82% of the executives who answered the survey identified as white. And the foundation boards surveyed in BoardSource’s 2017 Leading With Intent report revealed that 85% of their board members are white. This consistently and dismally shows that less than 20% of executive directors/CEOs of nonprofits are people of color. This has been the pattern for over a decade and if we take a nod from for-profit corporations, it doesn’t look much better in the future -- at least, not without intentional intervention.
Just look at the CEOs in today's Fortune 500 companies. Only three black men are in these positions of power, according to a March Fortune article. This is down from six African American Fortune 500 CEOs in 2012. This total has not been this low since 2002.
Former Xerox CEO Ursula Burns was part of this exclusive club, but she left Xerox in 2016. Female Fortune 500 CEOs, as a whole, have declined by 25% since 2017, according to a May Fortune article.
Diversifying The Pipeline
We can safely assume that people of color and women are losing ground in the for-profit arena and are stagnant in the nonprofit circles. The solution to this issue is for both nonprofit and for-profit leaders and boards of directors to be intentional in attracting, building and retaining talent in these underrepresented populations.
I believe the talent exists, but it is not fully cultivated. If every executive took one woman or person of color, mentored and encouraged them to move up within the company or seek higher levels outside of the company, we would see gradual but significant improvement. We can accomplish this by doing three things:
1. Build bench strength. This can be done by providing mentoring and/or coaching, educational investment and assigning special tasks to help employees grow their skills and knowledge.
2. If your organization lacks diversity, recruit it. Intentionally seek applicants via various affinity groups, such as the local or state Hispanic Alliance, the National Urban League or the American Business Women’s Association.
3. Create a diverse succession plan. This succession plan should intentionally increase the diversity within an organization and allow for planned upward mobility.
These practices take time, often years. But more than that, it takes the intentional commitment of leaders, staff and the board.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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09ccc02317cb125898cfa16e47e2138a
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/10/22/why-more-girls-need-to-negotiate-and-the-role-we-play-as-leaders/
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Why More Girls Need To Negotiate And The Role We Play As Leaders
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Why More Girls Need To Negotiate And The Role We Play As Leaders
My daughter is what most would describe as a typical nine-year-old girl. She is bold, strong-willed and not afraid to test boundaries. Quite often, I find myself in a flustered stalemate with her, likely because she inherits those attributes from me.
Under our same roof lives my mother, a woman whose spirit -- even through the fog of Alzheimer’s disease -- emanates the unrelenting will of a girl who escaped early marriage in India 65 years ago, pursued an education and then built a multi-faceted career, unlocking a new life for herself and endless possibilities for her future family.
Negotiation and persuasion effectively altered the lives of women in my family so, even in moments of mania-inducing frustration, I encourage and revere my daughter’s ability to be a force of nature.
The Power Of Negotiation
Recently, I met Kamla from India. Like my mother, she was pressured by her parents to marry at a young age and abandon her schooling. Only, she was presented with this fate roughly a decade ago as a pre-teen. Even after elevating her protests to the point of a hunger strike, Kamla's parents wouldn’t listen to her appeals to continue her education. Then, something transformational happened. Kamla summoned what author Amy Cuddy refers to as presence -- the ability to become so attuned to one’s own true thoughts, feelings, values and potential that you can articulate them clearly, even in high-pressure situations.
Kamla once again explained her passion to pursue an education and define her own future. They relented, and Kamla successfully negotiated her way out of a fate that her parents had chosen for her and took the first steps toward the untrodden path she hoped to chart for herself.
In my work as the CEO of Room to Read, I regularly see girls who benefit from lessons in life skills and consistent mentorship, channeling their inner fortitude and fighting to explore their potential. This often occurs in moments when they might easily be made to feel powerless against long-standing traditions, cultural biases and social pressures. These girls are not meant to be child brides or servants. They are discovering who they can become, summoning their voice and full presence and developing as pioneers in their communities, inspiring more girls to speak up.
But not every girl has help or encouragement to harness the strength that Kamla did. Past research shows that women -- even with stakes much less cumbersome than child marriage -- are less likely to negotiate, especially when it comes to negotiating for themselves and their own interests. More recent research (paywall) indicates that while more women may be asking for what they want, they are, unfortunately, still less likely to be successful in obtaining it than men.
The Need For Advocacy
With equal compensation and representation in leadership roles serving as common indicators of success for women, it is important that girls are not just learning technical skills to be employable but also actively advocating for themselves and what they believe to be fair and just. For the world to be a better place for girls, we need women to use their voices. Once this hurdle is cleared and girls are given a chance to explore who they might be and what change they can affect, the possibilities are endless -- not just for them but for their communities and beyond.
Whether girls and women are fighting to secure and retain a seat in the classroom or boardroom or to make an informed choice about their futures, negotiation and effective communication skills are key. Often, an added element of persuasion, or more accurately pre-suasion, ensures the desired outcome. Author Robert Cialdini defines pre-suasion as “the process of arranging for recipients to be receptive to a message before they encounter it.” In Kamla’s case, her three-day hunger strike, albeit extreme, may have been the pre-suasion technique that allowed her parents to truly acknowledge how committed she was to her education.
I believe we are living in a time when women are collectively pre-suading society to listen and no longer tolerating injustice. With that continued drumbeat and the right toolkit, young women can ultimately influence external forces that create obstacles to their chosen path. By ensuring young women are cultivating the right skills through training, practice or mentorship, we are directly impacting their success rate in the workforce and in society.
Where You Come In
As leaders, regardless of our gender, it is incumbent upon us to venerate women who break the mold and celebrate their bravery. For those of us who are female leaders, we can lead by example and ostensibly advocate for ourselves and female colleagues when policies and practices disadvantage women. Here are a few additional actions we can take to champion the young women in our personal and professional communities:
• Strengthen the connections among women.
• Embrace mentoring moments, offering insight or support that may provide a needed boost of confidence or assurance.
• Negotiate communally. Acknowledge that each personal success is a collective victory for all.
• Encourage positive feelings about negotiation and a strong sense of self-worth.
This year's International Day of the Girl reminded me of the endless opportunities that exist when girls and women around the world recognize the power within themselves and develop the confidence needed to influence critical decisions that affect our world. I keep this in mind every time my daughter digs her heels in and can’t help but notice my mother looking on with pride.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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9474412a4c94805959169b6549cb041e
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/11/09/gen-z-what-you-need-to-know-about-the-newest-generation-of-donors-and-volunteers/
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Gen Z: What You Need To Know About The Newest Generation Of Donors And Volunteers
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Gen Z: What You Need To Know About The Newest Generation Of Donors And Volunteers
In the time that I've been running my nonprofit organization, I have seen a couple different generations emerge in the workforce and society to influence how we work and live. These new generations each have their own perspective, which I see as critical information to understand in order to engage them as donors and volunteers.
The newest generation is called Generation Z, and it has many differences to address in marketing, communication and engagement when compared to previous generations. Here is what I've learned so far and that may be useful to other nonprofit leaders who need to seriously consider the new generation as a key opportunity.
Who Is Gen Z?
The members of this generation were born in 1995 and after. The oldest ones are just starting college or finishing high school. Their parents are Gen Xers and millennials, who faced the last big recession while raising their Gen Z kids. According to the U.S. Census Bureau, they are considered to be the most diverse generation, with more than half of the population coming from different minority groups.
This generation has been exposed to many issues at an early age, including terrorism, school violence and global conflict. From my perspective, all of this has taught them to be able to adapt more easily to situations, be more resilient and have more of an interest in social change.
A Generation Of Givers
Statistics point to the fact that, although they are careful with their money, Gen Zers do like to donate and get involved in social issues. The 2017 Global Trends in Giving Report noted that Gen Z is interested in giving to many different causes. The top causes include youth, animals and human services. It illustrates that, no matter what generation it is, people give to the causes that mean the most to them. The same report notes that Gen Z attends more fundraising events and donates more often to peer-to-peer fundraising campaigns and to nonprofits located outside of their country than millennials or Baby Boomers.
This generation also volunteers a lot. For example, 2015 data from the Bureau of Labor Statistics reports that teenagers, 16 to 19 years of age, have a high volunteer rate -- 26.4% -- compared to a volunteer rate of 18.4% of those ages 20-24.
How To Capitalize On Gen Z's Desire To Help
I've found Gen Z to be even more passionate and willing to help on a volunteer level. Not only is that useful for our nonprofit, but it also keeps the rest of the team motivated when we are struggling with a campaign or fundraising strategy. Their energy and ideas are infectious and often help us see an issue differently. In this way, it's important to embrace the age difference and appreciate another perspective.
Plus, it helps that they are digital natives who can often guide what we do in the digital environment, which we may not have been able to do without their skills and expertise. For example, our Gen Zers have helped us with a mobile and peer-to-peer platform for fundraising. They showed us why these channels were important for reaching their generation and even millennials. Then, they provided the knowledge to develop and implement the channels.
What's key with Gen Z, I believe, is that they have more power and influence in terms of mobilizing and directing their own networks, primarily because of their focus on social channels. However, research has found that they are also interested in face-to-face meetings with their network.
Both of these qualities are key to a nonprofit because these members can become a motivational force for other donors when engaging with them at fundraising events. Additionally, they can bring others from their network into our organization as donors or volunteers.
Tactics To Attract Gen Z To Your Nonprofit
In working with Gen Zers, I've learned that it is important to take a different approach to how you engage and regularly interact with them. As part of the digitally driven generation, they tend to have a shorter attention span. And that's not necessarily a bad thing. It just means that it's important to keep communication simple and short.
Focus on sharing one point at a time when engaging with them and even during the work process. If you are looking for their donations, pick one main point that means something to them. If it's a volunteer project, ensure the instructions are concise. Think about sharing the exact areas they can help with and leaving out anything else. I find that they prefer to figure it out or ask questions over lengthier emails.
Video has worked to attract Gen Zers to our organization because there is not the same focus on text. The visual content resonates with them. Plus, since they enjoy this type of content so much, they are also helpful in terms of showing us how to put it together in a way that will win over their network.
Gen Z wants to have an impact, so figure out how they can do that within your nonprofit and focus on that as the purpose of your relationship with them. They want to know where they stand with you and how what they are doing can make a difference.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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7f628c476386225cbb968d36133c514d
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/11/19/the-roadblocks-to-universal-health-coverage-and-how-ngos-can-help-remove-them/
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The Roadblocks To Universal Health Coverage And How NGOs Can Help Remove Them
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The Roadblocks To Universal Health Coverage And How NGOs Can Help Remove Them
Why haven’t we achieved health for all yet? Forty years ago, the global health community committed to achieving primary health care for all by 2000. But today, about half of the world’s population still does not have full access to essential health services.
Could public-private partnerships finally get us there? Last month at the Africa Health Business Symposium (AHBS) in Johannesburg, an annual event we helped sponsor, hundreds of health ministers, government officials, business representatives and health-sector stakeholders and investors from across Africa came together to discuss this.
But I left chewing on a different question: How do we move from small- and mid-scale pilot partnerships between the public and private sectors to big, collaborative impact on global health?
Global Momentum
In Johannesburg, Dr. Aaron Motsoaledi, minister of health in South Africa, explained there’s no medical school textbook that teaches students one treatment protocol for rich people and another for poor people. Yet, in practice, due to inequities in reach and service quality, this is what happens. It was true in 1978, it was true when we set the Millennium Development Goals (MDGs) and it’s true today, as we work toward the Sustainable Development Goals (SDGs).
So, why are we chasing a future that never comes? Our global agendas have led to fantastic progress since the 1978 Alma-Ata Declaration, yes, but the idea that our grandchildren might sit here 40 years from now and have this same conversation is unacceptable. We need to continue planning for the future. But we also need positive, on-the-ground disruption to accelerate progress today. Can the private sector offer that disruption?
For the past 40 years, we’ve tried to reach our health goals mostly by advancing in our own sectors or trying out partnerships on a project-by-project basis. At IntraHealth International, we’ve worked with the Novartis Foundation and corporations in Dakar to combat hypertension. In Kenya, the Afya Elimu student loan mechanism is a great example of sustainable, cross-sector collaboration that is keeping health worker trainees in school.
But where are the efficient, productive, large-scale solutions to public health in Africa that public-private partnerships could offer? Two things are stopping us: risk and trust.
Risk And Trust
The public and private sectors eye each other as risky bedfellows. In Johannesburg, both sides spoke frankly about their concerns and hopes.
On the public side, there’s an aversion to the idea that companies should profit on the health of people, particularly on the health of poor people. Will private companies ruthlessly put revenue above all else, including quality and social equity? Will those who can afford them continue getting high-end services while those who can’t are left farther behind? Will wealthy corporations wield too much power? And what about the time and resources it takes simply to vet and select the partnerships that could succeed and scale?
On the private side, we heard about how slow and bureaucratic the public sector can be, how it can stifle innovation, reward incompetence and even harbor corruption. While the public sector might dangle promises of scale, it is also known for challenges that can reduce profitability -- politics, evolving regulatory environments, financing mechanisms and so on. Any given election can turn a once favorable environment for collaboration into a hostile one.
We talk a lot about how the two sectors are different and what we have to lose. But we don’t talk much about our common ground and how we can manage and mitigate risks to select and nurture the “right” partnerships. In fact, we don’t spend enough time talking to each other at all.
There is a burgeoning body of research already shedding light on risk mitigation and facilitating environments for partnerships in the health sector in low- and middle-income countries. Partnerships can be set up to pool risks and meet the needs of all parties.
With the right due diligence and dialogue, we can design partnerships that level the playing field between those who have the money and resources and those who have the reach.
Who’s In The Driver’s Seat?
One thing I heard over and over from health ministers and others at AHBS is that country governments need contextualized solutions. They aren’t looking to implement the global agenda or a company’s latest innovation, they’re looking to meet the health needs of their citizens. They also want the global community to learn from their experiences -- in fact, they are a bit tired of what they perceive as the persistent one-way flow of information. They want to drive.
And from private-sector companies, I heard a lot of enthusiasm and know-how. They want to invest and start moving. They are impatient with bureaucracy and know how to get things done. They want to drive.
NGOs: The Catalyst For Better Dialogue And More Action
There’s a role here for local, regional and international NGOs to be the catalyst for better dialogue and more action between the public and private sectors. We know public health sectors. We know the stakeholders to engage. We also know how to evaluate and engage private partners. We can help busy governments evaluate potential partnerships. We can be part of the risk mitigation strategies governments employ to ensure the balance of power doesn’t always shift to the partner who brings the most money, or that if a private-sector solution fails, we learn from it and move on. And if it works, it moves forward faster.
This will be a long journey. We’ll need to take turns driving to get there in one piece. By building solid communication into our partnerships, we can agree who’s turn it is and when.
I’m hoping that at next year’s AHBS, we’re not still talking about potential risks, but rather learning from the collaborations and investments that were seeded last month in Johannesburg. And after the global community descended on Astana for the Global Primary Health Care Conference in October, I hope multilateral agencies, donors, private-sector actors, government representatives and country-level voices can continue the honest dialogue that builds the trust we need to succeed.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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934f116056b74dcf7b2eb37d429ea3a8
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https://www.forbes.com/sites/forbesnonprofitcouncil/2018/12/11/how-nonprofit-organizations-can-gain-more-support-this-holiday-season/
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How Nonprofit Organizations Can Gain More Support This Holiday Season
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How Nonprofit Organizations Can Gain More Support This Holiday Season
The time of giving is upon us, and America has been recognized as one of the most generous nations. Recent research revealed that Canada, New Zealand and the U.S. have the highest rate of charitable donations as a portion of gross domestic product (GDP). The rates of giving as a percentage of GDP were 1.44% in the U.S., 0.79% in New Zealand and 0.77% in Canada.
Giving is in our nature, as a country. As French diplomat Alexis de Tocqueville said: “America is great because she is good. If America ceases to be good, America will cease to be great.”
If you're looking to gain more support for your nonprofit organization this holiday season, you need to know what is expected of you from people who want to give.
1. Prepare For Site Visits
As a nonprofit, you should be prepared for site visits. People might have heard of your organization from a friend, on the radio or through their own research. Now, they want to visit and experience it for themselves.
Donors want to give with quality and do it thoughtfully. When they visit, think about the kind of impact that you can share. Show them what your day-to-day looks like, share any special programs that are going on and introduce them to your constituents. They want to know you care, and they want to see where their funds are going.
2. Demonstrate Your Quality
One way to demonstrate your quality to potential donors is to get vetted. Having a third-party stamp of endorsement shows people outside of your organization that you are top-notch and verified, thus making your organization a safe choice when it comes to holiday giving.
In addition to vetting, show qualitative results by sharing video testimonials from your stakeholders, such as a homeless person speaking about how your nonprofit helped them get -- and stay -- off the streets, or a board member demonstrating their commitment or your team showing the cohesiveness and positivity of your culture. This way, you have both a quantitative and qualitative stamp of approval -- the perfect mix!
3. Show International Impact And Higher Return
Donors can have an even greater impact if they give internationally. A dollar you give internationally tends to go further than in the U.S. To put things into perspective, an emergency room visit in the U.S. costs $1,223. But in Nepal, three people can visit the hospital for high-quality health care for just $100. That same amount can also be used to deworm nearly 1,000 children.
Additionally, the holidays are often celebrated differently in the U.S. than they are abroad. In the U.S., we have thousands of department stores, decorations and businesses preparing for our gifting traditions. In truth, many developing nations aren't thinking about the holidays; they are just trying to sustain themselves. Many don't have Santa Claus, department stores or decorations; some cultures don't even know about or support it. That's why it's so important to give. We can share this spirit of giving and help provide life-giving sustainability for the billions who are suffering.
If you are an international nonprofit organization, remind donors of the impact they can have not just in the U.S., but all over the world. Show them how their dollar can go further by giving internationally. Nonprofits can do this by educating donors and sharing videos, photos and testimonials from the actual recipients and their families. This way, donors know when they give internationally, their money can go further and make a bigger impact, and they'll feel more involved in your organization. Alternatively, you can send donors a letter or email featuring this same information. There is always a way in communication.
4. Get Endorsed By A Rating System
In addition to getting vetted, look into getting rated. Charity Navigator, for instance, provides ratings based on how well a nonprofit organization is run. They have certain criteria and stars to help guide donors when it comes to charitable giving. However, they are often overloaded, and it can be hard to get them to rate you. But if and when you do get rated, be prepared to be reviewed, with all your systems and operations in place.
There's also GreatNonprofits, which relies on user reviews. These are people who know about your nonprofit, may have worked at your organization or have volunteered. Therefore, you have a group that provides independent criteria, as well as a group that relies on personal feedback and testimonials.
Encourage and remind your donors, volunteers, board members and team to support you through testimonials for your marketing materials, website, donor letters and these review sites.
Every day we can do good. Make sure your good can have the greatest impact by informing and encouraging your donors as we enter the holiday season. Most importantly, as the recipients of funds, we should always be grateful and do a good job of expressing it. We can express gratitude before people donate, while they are giving and after they have given. Wishing you a fruitful season of giving and gratitude!
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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a866d3a5e0e6376a6907aaa6747791a5
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/04/24/how-to-reset-your-website-redesign-four-tips-for-a-successful-site-launch/
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How To Reset Your Website Redesign: Four Tips For A Successful Site Launch
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How To Reset Your Website Redesign: Four Tips For A Successful Site Launch
A website redesign is not easy. Expectations are high. The old site is cranky, tired and outdated. And you wanted the new one live yesterday. Three more months of development feels like forever. Sound familiar?
At GreenPath, we felt all of that. We had just made a strategic pivot toward a holistic approach to financial wellness, led by our CEO. We were eager to deliver on our “Big Hairy Audacious Goal” to remix the American dream so that it works for everyone.
As is the case for many organizations, our website is a critical piece of the marketing mix. It is the primary lead generator and a key influencer in decision making for clients and partners. Getting it right was essential to our organization’s overall success.
That was why, when I learned about the website on my third day as GreenPath’s first chief marketing officer, I hit “pause.” Six months into the project, and two weeks before the scheduled launch, my instincts told me the site just wasn’t ready. Slowing down was absolutely the right decision. For those of you starting on a similar project, I offer some key learnings from my experience.
Know The Value Of What You Already Have
Look at how your website performs as a whole. Analytics will tell you how much your content is being used, but it’s not the whole story. How did people find you in the first place? A search engine optimization (SEO) audit can help you figure out how your audience is getting to your site and enable you to make it easier for them to find your new site.
One of my first steps was to engage an independent SEO auditor to compare the new site and the old one. We learned that our existing site performed quite well in search engines. If we had we launched a new site without the SEO audit, we would have damaged our search engine ranking, making it harder for people to find us.
As a result of our audit, we migrated hundreds of pages that were once marked for deletion. Even though those pages didn’t get much traffic, they were helping our search engine ranking. That content is still an important part of who we are and the help we provide to 200,000+ people every year.
Put People At The Center
There really is no substitute for learning how people use your website (hint: It might be quite a bit different than you think!).
User testing will help you find out where your design needs tweaking. For instance, we learned that our website navigation needed to be reorganized, and the tools that bring people in the door were buried and frustrating to find. As a result, we overhauled our information architecture and reorganized large sections of content.
Assemble An All-Star Team
Experts will prepare you for a drop in site traffic when you launch a redesigned site while people and search engines “relearn” your site. This is normal! But for GreenPath, that drop never happened. Since the launch, we have seen a steady upward trend in website performance.
How can you do the same? I credit our team of internal and external partners who kept each other accountable and did the often-tedious work:
• Lead the project with a blend of project management, marketing/communications and technical expertise. Our project leader had a writing and digital communications background, and she has shepherded hundreds of websites to completion. Her ability to collaborate with our developers, designers and internal team made success possible.
• Bring specialty skills to the team through strong agency partners. While a part of the team for only a short time, our SEO partner, Pure Visibility, provided game-changing information that steadied our course and allowed us to maintain our superior search engine ranking.
• Involve key stakeholders. Having representatives of the end-user audience is a must. Our project would have benefited from user testing earlier in the process, but even at the end, user feedback ultimately altered the user experience.
• Engage detail-oriented implementers with the patience and skill to get to the finish line. After we digested the SEO audit, my team culled through the large body of content that had not made the original cut. Page by page, they edited and added content. My digital marketing manager optimized every single page to ensure key terms were included. It was months of attention to detail and enabled a successful launch.
• Bring in an IT business partner. Websites have a lot of technical nitty-gritty, and having a resource to fill out your team’s technical knowledge is extremely valuable. Partway through our project, our new CIO introduced the concept of IT business partners. Having a dedicated tech expert enabled us to make strategic decisions, save money and maximize our relationship with our specialty agency partners.
Celebrate And Learn
At the end of such a big project, a celebration is in order -- and it’s the best time to learn from your whole team. A debrief exercise to investigate what went well and how you could improve is a great step to strengthen relationships and identify priorities for the next round. We used this positive framework for our debrief and ultimately learned what didn’t work, without the blame game. It brought forth important learnings and gave everybody knowledge, insight and perspective for future projects.
If you’re anything like us, your redesign is just the beginning. As pleased as we are with the site, we are motivated to continue delivering great experiences to support our clients' and partners' needs.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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ea74f76ef8d0acf208fd5f84edea90d8
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/06/05/the-business-case-for-diversity-and-inclusion/
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The Business Case For Diversity And Inclusion
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The Business Case For Diversity And Inclusion
"Diversity and inclusion" (D&I) has become quite the buzz phrase. As the media covers more cases of gender or minority bias and sexual harassment in the workplace, organizations are putting a firmer focus on how they can get in front of the issues by establishing programs that address D&I.
A recent report by Willis Towers Watson indicates that 55% of employers have taken steps to communicate their inclusion and diversity initiatives as they pertain to workplace culture and policies, while nearly three-quarters indicate they intend to do so over the next three years. Attracting and retaining talent as well as driving employee engagement were found to be the most important factors behind promoting D&I within the workplace.
This is a step in the right direction, and there certainly is a business case for D&I. But it goes deeper than what this report has found. Diversity and inclusion initiatives are key to eliminating (or controlling) implicit biases in the workplace that affect who is getting hired, who is getting promoted and who is getting which assignments.
There is a direct correlation between levels of bias found in the workplace and feelings of inclusion at work, as well as the desire to stay or leave an organization. Implicit bias is found to mostly affect women and minorities in the U.S., but also men in other cultures across the globe.
How Bias Manifests Itself In The Workplace
My organization, the Society of Women Engineers (SWE), conducted a study in the United States called "Climate Control: Gender and Racial Bias in Engineering," identifying four basic patterns of bias women and minorities experience in the engineering workplace.
Respondents reported instances of bias including feeling the need to prove themselves to get the same level of respect as other colleagues and feeling that they could not behave as assertively as others in the workplace without getting pushback because of their gender or race. Other instances of bias included being assigned more office “housework” or administrative tasks and not having access to desirable assignments or networking opportunities as colleagues.
We followed this U.S. study with a comparable study in India, which found similar instances of bias. However, this study found that both men and women face bias in the Indian engineering workplace, but in different forms. Women experience gender bias, while men experience bias based on location and language.
Implicit biases are driving certain employees out of leadership positions and resulting in a less diverse workforce, impacting the bottom line. In “Innovation, Diversity and Market Growth,” researchers from the Center for Talent Innovation found that teams that have one or more members who represent the gender, ethnicity, culture, generation or sexual orientation of a target market are as much as 158% more likely to innovate effectively for that end user.
Making A Change In Favor Of D&I
The research is clear that diverse perspectives fuel innovation. Here are a few ways your organization can better implement programs to support D&I:
1. Have more thoughtful conversations about D&I.
Leadership teams at organizations are often hesitant to discuss race, gender, ethnicity or sexual orientation. This can be because they are not confident they have the skills needed to communicate properly about this information in a multicultural environment. However, better education of what implicit bias is and how it manifests itself is crucial to address and eliminate workplace bias across all industries.
At SWE, we created training cards to help organizations provide an easy introduction to D&I topics. The cards make a difficult topic more approachable and provide a gateway to broach the subject and have productive conversations. For instance, organizations should focus on areas such as demographics, experience, evidence and best practices, and cover topics such as women in leadership and veterans for innovation, among others.
Examples of questions to cover include, "What biases exist for various demographics within my workplace?" or "How does our unconscious bias impact employee retention, career succession, etc.?"
When having conversations about diversity and inclusion, allow time for learners to reflect and gather perspectives on a specific topic. Have them relate the topic to their specific job or department and discuss what a future state might look like. Create dialogue on how the topic might create innovative thoughts, a new direction for products and services, or ways to address challenges in the workplace.
One-time diversity training is effective at getting the conversation started, but it is not enough. Systemic bias at each level of the organization must be analyzed and addressed in order to fully understand what’s driving bias and how it can be eliminated.
2. Appoint diversity champions within your organization.
Diversity champions within the workplace will set an example for your employees and communicate the message that supporting diversity and inclusion is a top priority.
Diversity champions should be individuals who are well-known and highly respected throughout the organization. They should be leaders who employees look up to and who have strong voices that are often and consistently heard throughout the organization. When appointing diversity champions, be sure to take a look at all departments of the organization.
3. Implement bias interrupters to reduce or eliminate bias in your processes.
Bias interrupters are small changes to your basic systems like hiring, performance evaluations, assignments and promotions that will interrupt and correct implicit bias in the workplace.
To identify a bias interrupter, conduct a workplace experiences survey to identify bias patterns that may be present. Analyze the data to inform how these patterns specifically affect everyday interactions within the workplace and how specific employees are being affected. Then, implement a bias interrupter -- a strategy that will correct any negative patterns that are affecting one subgroup of employees. For example, if women's performance evaluation ratings fall after they have children, consider a modification to your maternity leave policies or flexibility in work-life balance.
I encourage all organizations to take a thoughtful approach to establishing a diversity and inclusion program. With the proper strategies in place, we can move toward a more inclusive and innovative society.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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5fc5b2453c40e08f54948cfd82284624
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/06/14/how-to-successfully-approach-a-nonprofit-takeover/
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How To Successfully Approach A Nonprofit Takeover
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How To Successfully Approach A Nonprofit Takeover
Takeovers are something we often hear about in the for-profit world. Yet, it also happens in the nonprofit world, and we need to be prepared for how to handle it.
Recently, a colleague of mine was asked to lead a nonprofit where there had been a recent exit. She will be a new executive director, brought in by the board, with a team she’s never met before. This is a very interesting situation -- it's essentially a “corporate takeover.” Or, rather, this is a “nonprofit” or “social enterprise takeover.” The board has brought in someone new.
This is indeed a sensitive situation. What should one do? Well, one of the greatest ways to start any new relationship is the big "L" word. You might think this is "love," but in this case, I'm referring to "listening." Here are some of the recommendations I gave my colleague as she starts her new position.
1. Explain that you are on a 'listening journey.'
Tell your new team that, for the first month (perhaps two, depending on the cultural situation), you are there to listen. During this time, you won't make any decisions but simply listen to other people’s stories. You can also bring the team together to share your own motivations, background and desire to serve.
The goal here is to let team members know you want to learn their story and that your journey as a leader will be based on their experiences. Additionally, you take away any fear by telling them you’re not planning on making decisions for this first month, but that you're simply going to listen.
2. Set up one-on-one conversations.
My colleague suggested this idea, and it’s a great one. Sit down one-on-one with each team member to hear about what their experience has been like. To do this appropriately, you'll want to set the tone: These are not to be "rag" sessions. Let team members know that the focus is primarily on the positives and what they like about the organization. Then, discuss areas they would like to change. This way, you have them start with the positives rather than the negatives.
This is a great way for people to share their stories, remember why they joined the organization in the first place and get reconnected in their hearts.
3. Lead a group meeting.
Next, make it clear publicly within the organization that you appreciate all that the team has shared. You are going to provide an official report to the board; therefore, ask them to provide, via email or on paper, all the areas they believe are positive and serve as the organization's strengths. They should also report on the positives of their individual jobs and what they like about them.
Then, have them state two areas that they’d like to change and one thing they’d like to see the organization stop doing entirely. This allows them to feel that they have influence over the organization’s future and direction.
4. Present and prioritize to the board.
Condense the information gathered from employees, and present it to the board. Take some time to think about it and discuss it with the board. Are people generally happy that there’s a leadership transition? Are they happy with their positions and the mission of the organization?
Report any challenges and any areas that need to be addressed. If there are more challenges than anything, you’ll need to report that to the board. After a board discussion, and with board agreement, prioritize the issues, and prepare a report for the team.
5. Host another team meeting.
Once you feel you’ve calibrated the situation and have clear agreement from the board on next steps, bring everyone together for another team meeting. By making it public, you are ensuring that the whole team has heard your incentive to drive change, with their influence. During this presentation, share the positives that the team mentioned. This instills a positive culture. Then, share the challenges and what the action plan is.
Sometimes human nature tends to jump to the negatives, and that’s never a healthy thing. Starting with the positives preps our minds to receive information more positively. A positive environment starts with our minds, not just our physical environments.
Present all changes with a focus on why they will benefit the organization and why they will benefit each individual professionally. It's important to make things relevant from a macro success viewpoint as well as a personal standpoint. After all, everyone wants to know how change affects them.
6. Conduct quarterly surveys.
Now, keep up the process. You have one-on-ones, group meetings and board involvement. To create a more anonymous process, consider conducting employee surveys. These surveys should be short and concise, with questions mirroring the questions asked in your team meetings. Present this survey quarterly, so you can continuously measure progress and transparency.
7. Repeat the process and enjoy it.
This is what happens when you take over a nonprofit. These initial steps help build a strong culture during a time of change and ensure that everyone will feel good about the situation and continue contributing. Does it take a lot of effort? You bet. But what success in life doesn’t take effort? What success in life doesn’t take time? We have to work hard to see the standards of excellence we hope to see.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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1a06c914d175c1cd836ef21af495f287
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/07/05/millennials-how-to-cater-to-the-most-generous-generation/
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Millennials: How To Cater To The Most Generous Generation
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Millennials: How To Cater To The Most Generous Generation
Lazy, entitled, self-obsessed and uninvolved. These negative stereotypes often attributed to the millennial generation are now so well-known that they have become the shorthand by which we identify those born between the years 1981 and 1996.
However, a new survey conducted by Fidelity Charitable turns at least one assumption about millennials on its head. Millennials, it seems, are a very generous bunch. In fact, they give more than twice as much of their money and time to charitable causes as either Baby Boomers or Gen X.
Fidelity Charitable’s survey of 3,000 adults, including 288 entrepreneurs, found that millennials, on average, donate $13,654 a year to charity, compared to $6,200 for Gen X and $6,192 for baby boomers.
There are also substantial differences in the way millennials give, according to the survey. For instance, they are more likely to value charitable giving opportunities that help them learn, grow or expand their personal influence. They also see giving as part of their core identity and want to be more directly involved in how and where their donations are spent.
The vast majority (90%) of the millennial entrepreneurs surveyed said they value charities with meaningful volunteer opportunities, with more than half indicating that they view volunteer work as an opportunity to gain new skills. By contrast, just one-third of Generation X and one-fifth of baby boomers view volunteering as an opportunity to pick up skills.
Perhaps most interesting, the survey found that millennial entrepreneurs use charitable giving as a way to build their personal brands and reputations. Some 84% of survey respondents reported that they saw giving as an opportunity to demonstrate leadership in their communities. And 74% surveyed said they valued having their contributions recognized publicly, compared to only 19% of baby boomers. The collective impulse to share seems to have made the leap from Instagram feeds to checkbooks. And unlike social media’s race to earn fleeting internet points, charitable giving can have a tangible impact on the lives of those around us.
What does this all mean for the future of philanthropy? First, millennials are now the prime audience for targeted outreach from fundraisers. Which organizations or causes speak to their beliefs? Which fields can stretch dollars the farthest? Reaching these potential donors early in their adult lives can reap fundraising dividends for decades to come. Second, organizations that figure out how to simplify giving stand to supplant legacy charities. It comes as no surprise that members of an age cohort that favors Uber over taxi cabs are going to seek out the easiest, most efficient ways to give.
These trends have spurred many young individuals to turn to donor-advised funds, which represent one of the fastest-growing vehicles for charitable giving and can be tailored to meet the needs of people in their 20s and 30s. Donor-advised funds vet charities and connect first-time givers with networking and mentorship opportunities. They grew in popularity in the wake of the 2017 tax reform legislation, as they offer a tax-advantaged way for budding philanthropists to give.
I've seen this trend firsthand through our Novus Society, which offers donor-advised fund accounts for young professionals under the age of 40 and features lower minimum opening contribution requirements and opportunities to give collaboratively with peers.
Such behavior aligns with previous research found in the Millennial Impact Report. Not since the 1970s have we seen a generation as infused with activist energy and desire for social change. The report found that fewer than a third of millennials feel like the country is headed in the right direction. The silver lining of this uneasiness seems to be a growing willingness to proactively act on issues that resonate.
Individuals of all political affiliations are taking to the streets and voting with their wallets on diverse causes, ranging from privacy and the environment to free speech and gun control. Nonprofits will need to articulate more clearly and effectively the immediate and long-term positive impact of their actions, as millennials will have little patience for underperformers.
While millennials may alarm their parents by spurning marriage or deferring childbirth and home ownership, they deserve credit for their generous support of civil society. When you zoom out from the day-to-day news cycle, it is apparent that America is, in many ways, trending in the right direction.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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4beb535134688953c4eea69a3865ede6
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/07/11/10-successful-low-cost-marketing-techniques-nonprofits-should-be-using/
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10 Successful, Low-Cost Marketing Techniques Nonprofits Should Be Using
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10 Successful, Low-Cost Marketing Techniques Nonprofits Should Be Using
Marketing is essential for directing people to your organization, but with the oftentimes limited budget of a nonprofit, those marketing efforts can quickly become out of reach. In order to make sure that people are aware of your mission and are able to help your nonprofit continue to do amazing things, it’s vital to find a marketing plan or technique that doesn’t break the bank.
But with the massive amount of marketing tools out there, and with how expensive many of the successful ones seem to be, wading through the options can be time-consuming and frustrating. To help, we've asked 10 experts from Forbes Nonprofit Council to share their best ideas for an inexpensive, yet effective, marketing solution.
Forbes Nonprofit Council members share cost-effective marketing strategies nonprofits with low budgets can use to spread their message. Photos courtesy of the individual members.
1. Bring Your Community Online
Engage the community through Facebook communities, where members can become part of the dialogue. Publish your events, market your message and draw in your audience by having them participate through comments, discussion threads and sharing pictures from events. - Deboshree Dutta, Women in Product | PayPal
2. Utilize Community Advocates
People respond well when others believe in your work and are excited to talk about it. In our marketing, we heavily involve our fellows, trusting that they can share the value of our work better and with more credibility than we can. When you encourage the people who benefit from your mission to advocate for it and share that passion with their networks, the product is honest and wide-reaching. - George Tsiatis, The Resolution Project
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Participate In Engagements Of All Kinds
I speak frequently at Rotary Clubs, United Way rallies, Lion's Clubs, leadership clubs, etc. I tell the stories of the thousands of people we touch. I also write for various online outlets—these columns are shared and the message is spread wide and far. It takes time, but these engagements result in a multiplier effect that benefits our mission and brands us as game changers. - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
4. Partner With An Ambassador
In our early days, our work attracted the attention of Natalie Portman, who served as an ambassador and spokesperson for a decade. Although she was busy building her burgeoning career, she generously agreed to numerous appearances, trips and campaigns where she shared our message. Her voice not only elevated the profile of our organization, but also—and most importantly—the issues we aim to address. - Rupert Scofield, FINCA International
5. Utilize Word Of Mouth
We rely upon our existing community to help us spread the word. Through their personal stories, they share our message in a way that is personalized, authentic and effective. More than 70% of our new cohort was referred in through a nomination or referral from an existing community member! - Kristine Sloan, StartingBloc
6. Create Content For The Media
Instead of looking to see how the media can help you, turn it around and provide them with a story about your organization that helps them. The media get a tremendous number of requests to "write a story about us," but if you can give them a compelling story that makes their job easier, you will get exposure and the media will look to you in the future for more content. - Tom Van Winkle, Hinsdale Humane Society
7. Post Content On YouTube
We find the videos we post on our YouTube channel get shared most often, plus we can connect that channel to our website and social media pages. Also, since Google is behind YouTube, the search capacity on there has really helped us get noticed. - Gloria Horsley, Open to Hope
8. Utilize User Generated Content
Social media and mobile have changed the game of "marketing" a message, event or core values. Likes, shares and comments are a great way to spread a message through the algorithms of social media. Social connection and third party validation assists in sharing the "why" of nonprofit causes. User generated content (UGC) needs to be a priority tool when marketing in today's nonprofit space. - Aaron Alejandro, Texas FFA Foundation
9. Use LinkedIn To Share Messages
While there are many social media tools, we found that the LinkedIn platform offers the ability to build thought leadership and get the word out to a broader audience. We brought in a LinkedIn expert to train our entire staff, to help us build out our profiles and to set some basic expectations around its use. Now, we hold check-in meetings to see how everyone is doing with the tool. - Tammy McLeod, Flinn Foundation
10. Offer Promotional Products
The best kept secret in marketing is and always has been promotional products. The number of impressions you can leverage for a small outlay (especially if the product is something people will continue to use or keep) just can't be beaten. At Spectrum, we use them for our clients as well as our own events, giveaways and gifts. Nothing tells your story for longer than something unique and memorable. - Tim Howe, Spectrum Designs Foundation
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ee387a9069fa07098e9c9298d7487c9d
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/07/15/how-nonprofits-can-create-positive-economic-impact-in-their-neighborhoods/
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How Nonprofits Can Create Positive Economic Impact In Their Neighborhoods
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How Nonprofits Can Create Positive Economic Impact In Their Neighborhoods
If you scan the landscape of nonprofits in America today, there is little question these organizations are bedrocks for their communities. However, while nonprofits are often recognized for their mission-based achievements and results, their economic impact as dynamic businesses in local communities is often overlooked.
We address problems that occur when capitalism fails and challenge systemic barriers to success that impact individuals and their communities. Many nonprofits confront issues that the government can't solve to fulfill our missions of creating safe, stable and thriving environments for individuals, families and communities.
In every state, nonprofits are high-impact employers, significantly contributing to the American economy. Nationally, nonprofits employ more than 10% of the workforce. In Illinois, where I reside and work, 11.3% of the private workforce is employed by nonprofits. What's more, the nonprofit sector contributed an estimated $985.4 billion to the United States economy in 2015 -- a sizable 5.4% of the country’s gross domestic product.
Because of the nonprofit community’s collective economic impact, we are entrusted with tremendous responsibility. This is especially true for those of us who are embedded in communities that have experienced disinvestments for several years or decades. Nonprofits provide vital foundational support in communities of need.
Our organization, New Moms, a nonprofit dedicated to serving young mothers and their families, maintains its headquarters on the west side of Chicago in the Austin neighborhood. In Austin, nonprofit organizations are the largest employers, bestowing us with a responsibility as integral community leaders. We have to lead by example in all aspects of our operations, from our employment practices to our neighborhood involvement and investment in local institutions. We make every effort to show the residents of Austin that we are here to serve their community at large, not just our direct beneficiaries.
One way to lead by example and challenge systemic barriers to success is to push nonprofit employers to provide living wages. In 2016, we made an intentional decision to ensure we pay our employees fairly. No one -- not even temporary, hourly, entry-level employees -- makes less than $15 per hour.
Similarly, when helping the young moms we serve transition to permanent jobs, we try to partner with employers that provide living wages. We do this while operating in a sector that has historically underpaid its employees, many of whom are not earning living wages. How can we call on employers to pay living wages if we aren't doing so ourselves?
Employment practices are an example of how nonprofits can demonstrate economic leadership. This means that just like for-profit businesses, we need to sponsor and be involved in community-wide events, shop locally, support our area institutions and listen deeply to the needs of our communities. And, when possible, we must hire local people to be part of our organizations and offer them living wages.
As nonprofits, we have a responsibility to those we serve with our mission and to the public trust. As employers, we have a responsibility to our staff, who are heroes helping us accomplish that mission every day. We also have a responsibility, as local businesses, to invest in our neighborhoods and employees to help support thriving communities.
As economic engines, nonprofit organizations help shape the long-term character and stability of the communities in which we operate. Having strong reciprocal relationships with our local communities requires us to own the importance of “walking the walk,” leading with the assets we have available to us and embracing our role as foundational organizations for economic stability.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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ce4af78fed78b1b7c2a4d71f7dd8088b
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/08/09/7-ways-to-effectively-communicate-what-youre-doing-with-donation-money/
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7 Ways To Effectively Communicate What You're Doing With Donation Money
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7 Ways To Effectively Communicate What You're Doing With Donation Money
As a nonprofit organization, you know that donations are essential to your success. Because of this, it’s important to effectively communicate to donors how their money is being used, as well as what your organization has accomplished.
When you are transparent with your donors about your organization’s work, they are more likely to continue to donate or encourage others to do the same. To help you do this, we asked eight members of Forbes Nonprofit Council how their organizations keep their donors in the loop. Their best answers are below.
Forbes Nonprofit Council members share ways nonprofits can keep their donors in the loop with how their money is making a difference. Photos courtesy of the individual members.
1. Have Program Participants Share Their Stories
Whenever possible, we've asked the program participant to tell their story. When an ex-offender talks about how our job readiness program kept him from re-offending and go from not just surviving to thrive—that's impactful. An in-person testimony is more than just putting a face on the program, it breathes life into the donor's desire to do more. - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
2. Host A Foundation 'President’s Forum Breakfast'
As one of the better engagement strategies I’ve participated in, donors meeting certain giving criteria are invited to join the organization for a breakfast, where an employee keynote presenter highlights a current program or initiative underway. This fosters enhanced understanding of the effort and organization, further builds enthusiasm and cultivates a heightened sense of pride in support. - Kenneth Deans, Health Sciences South Carolina
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Broadcast Your Activities Across Multiple Channels
Digital and social media are great ways to demonstrate on a regular basis the activities and movement of the organization. Posting activities where donors get to see where their investment meets return—always a good thing. Your end-of-year tax letter is a great way to show how their generous support was used to empower dreams. Our goal is to thank donors seven times—keeps us on our toes. - Aaron Alejandro, Texas FFA Foundation
4. Take Donors Into The Field
Nothing compares to taking donors to “the field” to see the impact of their contributions. The next best thing would be face-to-face meetings and regular phone calls. These methods give donors opportunities to experience your organization’s work on a more personal level, to ask in-depth questions and to have greater confidence in how their contributions are being used. - Rupert Scofield, FINCA International
5. Share Your Numbers
Donors today are savvy. Generations ago, people cut checks but didn't ask about efficacy. Now they’re looking for proof of impact in the work. WE Charity uses a third-party firm, Mission Measurement, to create reports on key metrics in our partner communities: maternal mortality, access to education, agricultural yields. Our donors appreciate that transparency as much as a photo or brief write-up. - Craig Kielburger, WE
6. Create Highlight Reels
To emphasize how our corporate sponsors’ dollars are being spent, our nonprofit creates a bi-annual highlight report showcasing our successes. In an aesthetically pleasing, graphically designed layout, we outline exactly where their contributions go to help further our mission in a quick, easy-to-digest format. - Dr. Sherry McAllister, Foundation for Chiropractic Progress
7. Discuss Your Successes In Person
We send newsletter updates or personalized emails, send text messages, make phone calls, drop a card in the mail, but realized that our donors love to see us and hear about success during some good old face time. Breakfast, coffee breaks, lunch, dinner and at events is the best time to share updates with donors. It is more personal. - Anisa Palmer, I Will Survive, Inc.
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14e1e76aa596544177e1958478cb493d
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/08/22/10-red-flags-nonprofits-should-watch-for-in-a-potential-corporate-partner/
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10 Red Flags Nonprofits Should Watch For In A Potential Corporate Partner
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10 Red Flags Nonprofits Should Watch For In A Potential Corporate Partner
If you’re looking to bring more visibility to your nonprofit organization, you may have considered partnering with another organization. Company partnerships can be massively beneficial in raising awareness and dollars for nonprofits, but you’ll need to choose the right partner first.
The members of Forbes Nonprofit Council have extensive experience in developing successful partnerships and identifying what makes a good (or bad) fit. Below,10 members share the signs that a company may not be the best fit for your nonprofit, and what you should look for instead.
Forbes Nonprofit Council members share the top negative signs you should look out for when choosing a corporate partner for your nonprofit. Photos courtesy of the individual members.
1. There's No Alignment On Your Mission
Partnerships between corporations and nonprofits should be more like common alliances. Both parties must be able to answer the "why" question and the why needs to be tied to the mission. Otherwise, if the dollars fail to equate to greater sales for the corporation, they will likely dissolve the partnership early on or try to mold the message into something devoid of the nonprofit's mission. - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
2. The Partnership Is 'Too Obvious'
Sometimes the company that seems most obvious to partner with may not be the best only because it is so obvious. Look for a company that others don't expect you to partner with. When you do, it creates intrigue and interest. They'll want to understand why you are partnering, and that creates opportunities to tell your story more often and also opportunities for additional partnerships. - Tammy McLeod, Flinn Foundation
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. They Want To Influence The Mission Delivery
One "red flag" is a desire to influence mission delivery. Organizations must implement the programs that would have the greatest impact on their community, not just because a company is willing to fund them. This is particularly important when a company has a vested interest in the organization's services, such as pharmaceutical companies contributing to health organizations. - Gina Parziale, Gina Parziale Consulting
4. Your Partnership Isn't A Priority To Them
The first warning sign is when calls are not returned and meetings are canceled. This means the partnership is not a priority for the company and you are wasting your time. Look instead for a “bullseye” where there is a clear win-win for both organizations, including mutual concern for measurable, sustainable impact in people’s lives. - Rupert Scofield, FINCA International
5. They Don't Keep Their Promises
One of the biggest red flags with any partnership is when promises are repeatedly made and not kept. If a potential partner says they will get something to you by a deadline and they miss that deadline, they are likely to miss bigger deadlines in the future. Trust is the basis of a strong foundation in any partnership. Only work with partners who value your time and can reliably keep promises. - Michael Ellison, CodePath
6. It's Only Benefiting Them
Company partners are great stakeholders for an organization. The most ideal partner should align with the organization's mission, vision and values. One sign to be careful of when seeking the ideal partner is if the partnership is benefiting the corporate partner over the organization. The partnership should benefit both entities. - Anisa Palmer, I Will Survive, Inc.
7. Your Goals Are Too Different
Just because a company is willing to sponsor your event or project doesn't mean it should. Before approaching companies, do some research on industries that align with your mission. For environmental organizations, it might be solar companies. For immigration advocates, it might be law firms. Find a company whose goals align with your own first, then approach them with specific ideas or projects. - Jessica Reeves, Voto Latino
8. You're Not Sure Of The Cultural Alignment
The right fit is all about cultural alignment. Each entity must assess and engage in a cultural due diligence effort. For example, what is the proposed partner’s position and performance record in the areas of governance, employee engagement, quality and service excellence? A nonprofit must be assured that its values and operating principles will be honored and consistently upheld by the partner. - Kenneth Deans, Health Sciences South Carolina
9. They're Focused On Profit Above All Else
In working with a nonprofit, it's important a company shares the same values and belief systems in terms of human rights, social good and a desire to help others above all other things. It won't work if a company is more focused on profits at any cost. - Gloria Horsley, Open to Hope
10. You Don't Have The Same Core Values
Core values become the DNA of your organization. Embrace your organizational values. Roy Disney said, "When your values are clear, your decisions are easy." Find organizations that have similar, collaborative or complementing core values—it makes the working relationship become a "win-win" proposition. Aligning core values is an easy and effective way to attract, retain and develop sponsors. - Aaron Alejandro, Texas FFA Foundation
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b66bc3016bb5809b8cc9e76f060947c6
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/11/04/nine-practical-actions-nonprofits-can-implement-to-increase-donor-trust/
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Nine Practical Actions Nonprofits Can Implement to Increase Donor Trust
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Nine Practical Actions Nonprofits Can Implement to Increase Donor Trust
"How do I know my donation is really going where I think it's going?" is a common fear among potential donors. Although not the norm, over the years, there have unfortunately been cases of charities abusing their donors’ trust. This kind of behavior doesn't bode well for the nonprofit sector as a whole, as the lifeblood of these organizations is the kindhearted donations of their supporters.
Most donors don't want to be associated with a nonprofit that might drag their reputation through the mud or take advantage of their generosity, so it’s natural that they may be cautious about which organizations they support. By focusing on establishing trust, a nonprofit can not only build better relationships with its current donors, but it can also attract more donors to invest in its cause. Below, nine members of Forbes Nonprofit Council explore some of the methods a nonprofit can employ to increase its accountability to donors.
Forbes Nonprofit Council members share steps every nonprofit should take to ease the minds of their donors. Photos courtesy of the individual members.
1. Create A Culture Of Accountability
Accountability is a broad concept and a large responsibility, but most organizations can fulfill it if they focus on two critical areas: financial record keeping and ethical standards. There are few better ways to earn donors' trust than with complete and accurate financial statements and a "code of ethics" that is fully integrated into organizational culture and is regularly used in decision-making. - Jose Luis Castro, Vital Strategies
2. Share Facts And Feel-Good Stories
Better Business Bureau (BBB) ratings, annual reports and GuideStar reports allow for transparency, and stories from those served by those dollars provide a face to the cause. Use real people with real names and photos (with permission). This provides donors with the facts and the feel-good stories of how their generosity is doing good. - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Put Together Quarterly Business Reviews
Organizations can create quarterly business reviews, as well as monthly newsletter-style reports, that not only describe where the donations have been spent, but also unlock the narrative around the value they have brought to the community, with "thank you" callouts to the donors. This helps with transparency and a genuine note of gratitude for the donation. - Deboshree Dutta, Women in Product | PayPal
4. Ensure Timely Transparency
Being accountable to donors means reliably posting financial information online on your nonprofit website, GuideStar and community organization sites. Having the 990 and audited financials readily available is one standard tool to view specific details on income, expenses, governance and trends in that nonprofit. - KellyAnn Romanych, Veterans Legal Institute
5. Pair Customer Impact With Efficiency Metrics
Foremost, always bring forth the customer-level story and impact that will come as a result of the gift being solicited. This reinforces the shared goals between your organization and the donor. Second, provide key financial metrics like expenditures on programs versus overhead that highlight the efficiency of your operations. - Rupert Scofield, FINCA International
6. Allow Donations For A Specific Program
Organizations can identify up front an earmark for giving and allow a donor the ability to give to a specific area of an organization. A good example is a nonprofit summer camp for children with disabilities that I donate to regularly. There is a camper sponsorship program where 100% of the donation goes to sending children to camp and not to the overhead of running the camp. - Maureen O'Brien, New York State Industries for the Disabled
7. Ensure Hand-In-Hand Delivery
Our aid and rescue missions are based on hand-in-hand collecting, concentration and delivery of aid by the same group volunteers, including and collaborating with those affected and their families. All steps are documented with video, testimonies and a 45-day post-audit report, making sure that earmarked donations reach those in need in our pursuit of social justice values around the world. - Ricardo Aizenman, CADENA International NGO
8. Go Beyond ‘Thank You’
Translate how a donor's gift is transformed into impact by telling stories of success. Craft your donor acknowledgment letters, newsletters, social media postings and annual report to continuously communicate how a financial gift is used to transform or save a life, improve access to services, reduce barriers, etc. Think about how you would want to be informed on how your gift made a difference. - Lynda Schueler, Housing Forward
9. Touch Hearts And Minds
Accountability is a moving target; you need facts and figures, audits and outside credibility organizations to help donors overcome their fears of their donations being misused. But you also need stories of real-life impact—heartfelt stories that move people to laugh and cry and break beyond the numbers to the impact of giving to people in need. - C.H. Dyer, Bright Hope
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bf559939794bf92d89494e9a7dc8adea
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/12/09/the-importance-of-trauma-informed-design/
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The Importance Of Trauma-Informed Design
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The Importance Of Trauma-Informed Design
What is trauma-informed design, and why is it important? Trauma-informed design is about integrating the principles of trauma-informed care into design with the goal of creating physical spaces that promote safety, well-being and healing.
This requires realizing how the physical environment affects identity, worth and dignity, and how it promotes empowerment. It requires recognizing that the physical environment has an impact on attitude, mood and behavior because there is a strong link between our physiological state, our emotional state and the physical environment. It also means that intentionally designing and maintaining healing environments leads to empowerment and resists retraumatizing those who have already experienced so much trauma.
Why is it important to consider trauma? A trauma-informed program, organization or system "realizes the widespread impact of trauma and understands potential paths for recovery; recognizes the signs and symptoms of trauma in clients, families, staff, and others involved with the system; and responds by fully integrating knowledge about trauma into policies, procedures, and practices, and seeks to actively resist re-traumatization," according to the Substance Abuse and Mental Health Services Administration (SAMHSA).
The principles of trauma-informed care, according to SAMHSA, include safety, trustworthiness and transparency, peer support, collaboration and mutuality, empowerment, voice and choice, as well as cultural, historical and gender issues. In practice, this means making an organizational commitment to trauma-informed care. This includes everything from equipping members of the program, organization or system with trauma training and knowledge to engaging program participants and beneficiaries in organizational planning to creating and maintaining physical spaces that ensure safety and promote empowerment.
The landmark Adverse Childhood Experiences (ACE) study demonstrated that the more an individual is exposed to adverse experiences like physical, emotional or sexual abuse, neglect, discrimination and violence, the greater the risk for chronic health conditions and health-risk behaviors later in life, such as heart and liver diseases, depression, sexually transmitted diseases and substance use.
By recognizing trauma as an important factor impacting health throughout a person's lifespan and by offering trauma-informed approaches to care, programs, organizations and systems can significantly enhance the positive impact they make on people's lives.
The principles of trauma-informed design include reducing and removing known adverse stimuli and environmental stresses, actively engaging individuals in a dynamic, multisensory environment, supporting self-reliance, providing and promoting connection to the natural world, separating individuals from others who may be in distress, reinforcing a sense of personal identity and promoting the opportunity for choice while balancing program needs and the safety and comfort of the majority.
Hospitals and service organizations that are perceived as pleasant and well-kept are more likely to be considered professional and supportive than those that are disorganized and untidy. Additionally, a Harvard Business Review study (registration required) showed that a messy workplace impacts workers, "threatening their sense of personal control."
Factors to consider include understanding how the physical environment promotes a sense of safety, calmness and productivity. How do staff incorporate an understanding of trauma-informed design to provide trauma-informed services and care? Are facilities and physical space-related responsibilities incorporated into programming and staff goals? And how does the organization maintain physical spaces and environments to ensure consistent trauma-informed care?
Apna Ghar, Inc., the organization I lead, was fortunate to partner with Designs for Dignity (D4D), a Chicago-based design organization that believes in creating dignified spaces for the most vulnerable among us, to build and design a safe home to house up to 30 survivors of gender-based violence.
The project took three years from inception to completion, and D4D's team of pro-bono designers and staff worked with us throughout that time. Working with them ensured that our values of being trauma-informed, strengths-based and empowerment-focused were incorporated into the physical space. From ensuring soothing yet uplifting paint colors, modern design concepts that still emitted warmth, functional appliances and equipment that kept abilities, age and cultural preferences in mind, D4D balanced all of it to create a beautiful and nurturing space. Residents and visitors alike comment on the warmth, comfort and sense of dignity the safe home evokes.
To incorporate trauma-informed design into new and existing spaces, consider these general guidelines from D4D:
• Think about spatial layout: Spaces with clear sightlines and few barriers create a sense of safety and calmness.
• Create visual interest with detail but not overcrowding. An appropriate quantity of objects, symmetry and regularity in their arrangement alleviates stress and promotes well-being.
• Avoid deeply hued warm colors that may arouse negative emotions. Cool colors have a calming effect.
• Furniture should be durable and easy to clean, and its arrangement should enhance safety and promote a positive relationship with staff and other beneficiaries at the organization.
• Natural light makes rooms appear less crowded, and lower levels of illumination mitigate perceived crowding and the resulting stress and discomfort.
• Plants perform an important biophilic function by connecting occupants to the natural world, which has been found to reduce stress and pain, and to improve mood.
Because these elements were incorporated into the design of our safe home, the residents feel welcomed and supported even before in-depth services start. Caring for adults and children who have experienced trauma, while ultimately fulfilling, can be taxing, but having some of those tensions eased because of the calming quality of the space and the privacy it affords is incredibly empowering to both the beneficiary and the person providing the services. It promotes a sense of well-being for both that leads to mutually beneficial outcomes driven by a healthy and positive relationship.
Our program participants have shared inspiring feedback such as "You have created a home away from home in every sense of the word." Our goal is to extend trauma-informed design into all our spaces and locations to complement the trauma-informed care we already provide. The results, as we have seen, are powerful.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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8821a8bae7bf79a6e68dcb0ce127fe03
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https://www.forbes.com/sites/forbesnonprofitcouncil/2019/12/16/get-connected-nine-tips-for-launching-a-successful-grassroots-advocacy-campaign/
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Get Connected: Nine Tips For Launching A Successful Grassroots Advocacy Campaign
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Get Connected: Nine Tips For Launching A Successful Grassroots Advocacy Campaign
A grassroots advocacy campaign is a great way for mission-oriented organizations to mobilize their memberships and take action in the political or social sphere. The more awareness an organization can bring to important and specific issues, the greater the amount of public support for their chosen cause.
Not quite sure where to begin with your efforts? We asked a panel of Forbes Nonprofit Council members their best advice for forming a grassroots advocacy campaign. Their best answers are below.
Nonprofit Council members offer advice on getting a grassroots advocacy campaign up and running. Photos courtesy of the individual members.
1. Listen To The People
The best advocacy campaigns center the leadership on women of color who have their finger on the pulse of the community. If your strategy is being developed far away from those who will be impacted by your idea, put your plan away, grab your shoes and go listen to people. Ask what they want, how they plan to do it, get out of their way and invest in them to make it happen! - Denise Collazo, Faith in Action
2. Find A Leader
Find someone who is passionate, focused and determined to launch and manage the advocacy campaign. This keeps it structured and provides an efficient way to complete the campaign. - Gloria Horsley, Open to Hope
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Make Sure Everyone Remains Focused
The top three requirements in real estate are location, location, location. The top three in grassroots advocacy is focus, focus, focus. Grassroots campaigns start small and gain their power by the sheer number of people joining the movement. With so many groups working on the same causes, it is difficult to attract people to your group. Stay focused on your goals and people will join you. - Tom Van Winkle, Hinsdale Humane Society
4. Get Feedback From Leaders
Create strong campaign material to share with a handful of leaders who will be proactive in spreading your message. Get feedback on their successes to share with the masses, including step-by-step instructions on how others can be successful at the grassroots level. There is strength in numbers and individuals are more likely to participate in a campaign when they feel confident. - Dr. Sherry McAllister, Foundation for Chiropractic Progress
5. Craft A Mission
To form a grassroots advocacy campaign, be sure to include both those with lived experiences and compassionate advocates. Together, they can craft a unique one-sentence mission that tells the vital core of their story. This way you will ensure the story will be heard by those who will join as champions. - KellyAnn Romanych, Veterans Legal Institute
6. Engage Partners and Donors
For our prenatal campaign, we started by engaging our field partners in local communities around the world that we wanted to reach with prenatal multivitamins. We equipped our partners with tools to communicate our key campaign messaging to at-risk women in their communities. Simultaneously, we went to our largest donors to help us elevate awareness about the campaign. Both approaches were essential for success. - Howard Schiffer, Vitamin Angels
7. Understand Everyone’s Passion
Grassroots campaigns have the ability to draw people from diverse communities and ethnicities together for a common cause. My advice is to first have a "why" session. Go around the room or post a question on social media asking each person why they are passionate about the issue. People will get to know each other better and realize that we are better together for a variety of reasons. - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
8. Let Influential Individuals Share Your Story
Ask leaders in your community to share and tell your story to others. Let these leaders make your stories their own and thank them for their help and engagement. You will always be successful when you're able to listen, share and invite others into your missions. Sharing real stories creates transparency about what is going well and what isn't. - Patrick Coleman, GiveCentral
9. Develop Objectives And An Action Plan
Grassroots advocacy works best when it emerges from the deeply-felt needs of the people and communities affected. Those needs have to be translated into clear, achievable objectives. Find and engage with advocates to harness their energy. Build a consensus on the campaign’s objectives. Plan and act. The key is to maintain energy and momentum while doing careful planning. - Jose Luis Castro, Vital Strategies
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ef127769b0e0dd16b5f2ef7abc54ccde
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/01/13/12-strategies-to-keep-up-with-evolving-nonprofit-challenges/
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12 Strategies To Keep Up With Evolving Nonprofit Challenges
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12 Strategies To Keep Up With Evolving Nonprofit Challenges
Every nonprofit starts with a mission to solve a problem. Over time, those problems can evolve and become more complicated. That's why nonprofits must constantly assess the cause they're serving to ensure they're keeping up.
As leaders in the nonprofit sector, we asked a panel of Forbes Nonprofit Council members how an organization can make sure they’re adapting well to new challenges. Their best strategies and recommendations are below.
Forbes Nonprofit Council members offer advice on how nonprofits can adapt to changing problems. Photos courtesy of the individual members.
1. Follow The Data
Data should drive mission decisions. Otherwise, organizations are either at risk of chasing grant or donor dollars or trying to answer too many issues. Stick to your core. Use community assessments and census data to bring direction to your services and programs. - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
2. Don't Focus On A Single Problem
Focusing on a single problem is in and of itself the problem. While the single problem garners attention, there is always a root cause. By looking solely at the problem, you are really focusing on a byproduct of the root cause. Agencies should seek to find the root causes of problems as opposed to focusing on the problems. This will promote systemic change and yield long term results. - Wesner Pierre, camba.org
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Keep An Eye On The Future
We have certainly experienced this at our 86-year-old organization. Last year, we started our Futures Council, a new group of board-nominated rising stars to address this specific issue. They are helping us navigate the challenges and opportunities that have arisen in the last few years, as well as helping identify strategies to succeed in the increasingly complex ecosystem of the future. - Kym Frank, Geopath
4. Prioritize Strategic Planning
An organization must have a strategic plan in place that has regular reviews and a shelf life. A three-year plan with goals and objectives that are regularly reviewed is ideal. Having teams take ownership of the goals that include all levels of employees is important when executing new plans and adapting to new challenges. - Maureen O'Brien, New York State Industries for the Disabled
5. Continuously Revisit Your Purpose
The annual planning process should always begin with questions. Is the problem we created the organization to solve still relevant? If not, do we declare victory and disband or do we deploy our human and financial resources to bear on a new one? This approach keeps the organization in start-up mode, on the cusp of innovation and ready to adapt to new challenges as they inevitably emerge. - Rupert Scofield, FINCA International
6. Check With Your Audience
Survey those you are trying to help to see if you are still helping what new issues impact those audience members. It helps keep you updated on what you might need to add to continue providing the same benefit. - Gloria Horsley, Open to Hope
7. Ask For Continuous Employee Feedback
Every 12 to 18 months, I ask every person in the organization to share their feedback on who we are and what we want to achieve. Our leadership team reviews the feedback together to see how it matches our mission, vision and strategic plan. We then modify our goals, action plans and metrics to reflect how our programs are evolving. - Dan Mantz, Robotics Education & Competition (REC) Foundation
8. Be Mindful Of Your Mission And Capacity
Before adapting to challenges encountered, I'd encourage organizations to make sure tackling long-term evolving issues is within the scope of their mission, as well as their capacity and ability to change directions. We need to adapt, be flexible and change over time, but be careful not to lose sight of your mission or you might just lose your way. - Jamie Aten, Humanitarian Disaster Institute
9. Monitor Emerging Trends
Use social media and personal discussions to expand on emerging trends. Listen to the people and causes you directly serve and what they are sharing with you. What challenges are they facing? Not sure where to look? Gaze towards the edges. - KellyAnn Romanych, Veterans Legal Institute
10. Listen To Community Voices
Our organization is focused on helping make a difference in communities we work with by mainly partnering with universities. However, we recognized that many high school programs wanted to use our service-learning model within their schools or communities, too. Instead of remaining steadfast with our five-year plan, we made an adjustment to our strategy by listening to community voices. - Eric Griswold, The $100 Solution™
11. Anticipate Future Needs
Even if the problem or the opportunity for which the organization was first established remains, the ways of finding and offering solutions do change quickly. Constantly scanning the horizon for new approaches, new angles or brand new issues is a must to remain relevant. Anticipating and serving the future needs of your members is what can distinguish you from the ever-growing competition. - Magdalena Nowicka Mook, ICF (International Coach Federation)
12. Be Strong Enough To Bend
Don't be so rigid and hard that you can break under pressure. Be nimble, flexible and able to adjust plans, strategies and ideas to capitalize on opportunities. If you accomplish everything on a strategic plan, it probably wasn't ambitious enough. Don’t try to force a project that is not embraced by stakeholders, and find something that works. Be focused, but flexible. - Aaron Alejandro, Texas FFA Foundation
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6502517b85c15b1e66f1f898250bfd61
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/03/03/innovation-in-the-nonprofit-sector-a-new-path-to-scale-and-impact/?sh=598c72416897
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Innovation In The Nonprofit Sector: A New Path To Scale And Impact
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Innovation In The Nonprofit Sector: A New Path To Scale And Impact
Photo: Getty
Many nonprofits fail to innovate at the pace of the for-profit sector. While our methods are outdated, our spending restrictions won’t allow us to take leaps.
I’ve worked in the international nonprofit space as the founder of Well Aware for 12 years in a field that combines science, technology and cultural adaptation. We construct rural water supply systems in east Africa with a team of experts while using local technology that’s rapidly expanding in the region. But the rural water supply sector, overall, is claiming pretty low success rates.
A few years ago, we decided to do something more daring to leverage the blossoming communications and banking tech to disseminate our expertise and model more broadly, while also harvesting important data to inform better work.
We explored taking a significant pivot within our nonprofit structure and found no good path without confusing or disgruntling donors. We also knew that our ranking on rating websites could be compromised if we put money toward what most would see as a risky enterprise.
So, we decided to create a new entity -- a for-profit company called Well Beyond -- to facilitate our new path without compromising the reputation and revenue of the original organization and to provide a source of growth for the nonprofit.
The two companies are enhancing each other’s reach, and we are building on the successes of each to forge a new path for our corner of the nonprofit world. Here’s what we’ve learned so far.
Why do nonprofits struggle to innovate?
In my organization’s subsector, it’s estimated that about 60% of water wells installed in Africa don’t work. We’re frustrated with this statistic, and many of us are trying new things, but we’re not advancing at the scale needed to address this abysmal success rate. Why?
For the most part, nonprofits are acting on already proven or quickly proven concepts. Research and development investments are difficult to justify when the parameters of charity rating platforms preclude spending on efforts outside of the mission and without short-term results. We do this because we’ve been sending the wrong message to our donor base.
The nonprofit sector has done a poor job of educating donors about what real program success looks like. True success is not the moment the well is drilled or when the treatment is administered. Real impact is only seen by results over time. And being able to measure the true impact of a program (and, thus, donations) requires additional spending and organizational capacity, meaning the true cost of an initiative is higher than what we have been telling our supports.
Meanwhile, charity rating websites give top scores to nonprofits that are putting enough funding into “program costs” but without any accountability for lasting intended impact. (I should mention that some sites do enable impact reporting that is reflected in scoring, but it’s on an “honor system.”)
So, we're lacking the incentive to spend on the part that really matters: the follow-up to ensure that the dollars were spent wisely, the project is still working, the program is serving the intended beneficiaries, and all failures from the initiative are noted and addressed.
These perceptions, parameters and misguided messaging are stifling the world of philanthropy and the potential for the dissemination of our expertise.
Can the dual structure be amply funded?
When I talk about our new structure, one of the most frequently asked questions is, "How does this get funded?" After all, if there’s no tax deductibility for the contribution, what’s the incentive for the funder?
I’m not a huge fan of the term “social impact investing” because it means different things to different people. But it is commonly understood that this type of financing includes lowered expectations of return and the timing of the return and that this can be justified by the social good that comes from the investment.
The right social impact investors believe in the mission, see the path we are creating for the sector and are willing to roll the dice on our crusade. At Well Beyond, we just completed our seed series with credible support. We found individuals who knew the landscape of our sector well enough to embrace our business plan and whose ideals as global citizens permitted them to deviate from their typical investment portfolios.
What are the tangible benefits of this new structure?
Some real and valuable talent can grow from a nonprofit organization, but commercializing that for good doesn’t make sense for all charities. If that powerful resource can be unleashed for sector access and monetized for more mission scaling, there’s greater knowledge in the industry to more revenue to do good work.
On top of that, as the second company gains momentum, the expertise is further strengthened for use by the original nonprofit, allowing the philanthropic side to scale at a healthier pace. This in-kind support for the nonprofit cuts costs and facilitates more efficient operations.
Most importantly, we can innovate. We can take calculated risks that are necessary to tackle global issues with higher efficacy and at a much greater scale.
The Well Aware/Well Beyond sister company model is still pretty new, but we have already been able to scale the work of the nonprofit through pro bono services, as well as cover some of its operational costs. If we continue to support Well Aware in this way, we anticipate continued growth and improved impact on both sides.
Final thoughts
Nonprofits exploring a similar structure should consider whether there is expertise or product based on your mission that can be monetized through a separate entity. It's possible to continue your nonprofit work while sharing a successful model or product elsewhere in the sector for a bigger impact and greater organizational sustainability.
In our experience, the most important factors to success include an open-minded, forward-thinking and vigilant nonprofit board, as well as key investors and a very hardworking, brave team skilled in change management.
This dual structure could be the future of philanthropic work and might even make charity work a competitive force globally.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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4230821607abdc02f5c8326bee36bf2c
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/03/23/10-biggest-myths-about-nonprofit-work/?sh=6454b3375275
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10 Biggest Myths About Nonprofit Work
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10 Biggest Myths About Nonprofit Work
Nonprofits are among the most misunderstood companies in existence. While their creators tend to regard them highly, they usually get relegated to second-place status among other companies. Different areas of business tend to look at the field with confusion about how nonprofits actually work, whether they should be making a profit or what kind of causes they support.
This has, of course, led to the emergence of numerous myths and misunderstandings about nonprofit work and what it entails. To rectify these erroneous assumptions and help clarify, 10 members of Forbes Nonprofit Council share some of the most common myths that exist about the nonprofit sector and offer concrete ways to correct the distorted view others may have of the industry.
Forbes Nonprofit Council members detail common misconceptions about the industry. Photos courtesy of the individual members.
1. Nonprofits Have Second-Rate Leaders
It takes extraordinary leadership to run a nonprofit. We have to use only a small portion of the funds raised to run the business. Nonprofit leaders often work in difficult places, helping hurting people and solving complex problems. Our impact is making a better world. Whether it's the people or places you help or the donors who give, lives are blessed by the work of nonprofits. - C.H. Dyer, Bright Hope
2. Starting And Running A Nonprofit Is Easy
Many think that launching and running a nonprofit is easier than running a for-profit. I ran IBM's Innovation Strategy practice globally and can tell you firsthand about this comparison. The regulations and reporting in a nonprofit are just as challenging as a for-profit. The lack of initial brand recognition makes it more difficult to raise money as well. Showing results quickly is critical. - Rosemarie Truman, The Center for Advancing Innovation
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Nonprofits Don't Need To Make A Profit
I believe the biggest myth associated with nonprofit work actually begins with the name "nonprofit." I began using "not-for-profit" several years ago because while profit is not the primary focus of our mission-driven work, it is critical that nonprofits/not-for-profits are run extremely well so that they can be sustainable. We can't make a difference in our communities if our doors are closed! - Arthur Mills IV, New Teacher Center
4. It Is Just A Tax Status
Many think of nonprofits as small, inefficient and not very professional organizations. Not true at all! Nonprofits are a fast-growing sector of the economy and many that support and champion important causes are also very financially successful organizations. The public sector used to look to the private sector for innovation and creativity—now it is time for nonprofits to shine! - Magdalena Nowicka Mook, ICF (International Coach Federation)
5. Nonprofits Are Not Metrics-Driven
Nonprofits are ultimately product/service-providing organizations. The only difference is that success is measured through revenue in for-profits while the metrics for nonprofits will vary by the mission and service provided. Nonprofits should be held to the same standards to ensure funds are being used to deliver value—and this can only be done if nonprofits are metric-oriented. - Deboshree Dutta, Women in Product | PayPal
6. Donations Are The Only Source Of Funding
Nonprofits depend on the support of generous benefactors. However, nonprofit leaders should not be 100% reliant on charitable donations to sustain their organization’s work. Instead, nonprofits should look to blend social enterprise models by offering life-enhancing products or services at affordable prices to beneficiaries or customers to diversify revenue streams and grow their missions. - Rupert Scofield, FINCA International
7. Nonprofits Are Simple ‘Do-Gooders’
Nonprofits are often seen as simple, unsophisticated and unaccountable "do-gooders." Great nonprofits are engineers of social good. They use data to inform, listen to stakeholders, skillfully leverage community assets and design bold solutions to address a community's greatest challenges or unmet needs. They create impact with thin margins while being accountable to the communities they serve. - Lynda Schueler, Housing Forward
8. A Nonprofit’s Sole Focus Is Alleviating Suffering
Many assume nonprofit work is focused on alleviating suffering; think food pantries, shelters and treatment centers. Less understood is the capacity for philanthropic collaboration to address the causes of suffering, namely lack of economic opportunity. Working together on systemic conditions may let us celebrate the closing of pantries, shelters, and centers because they are no longer necessary. - Thom Ruhe, NC IDEA Foundation
9. Nonprofit Services Are Free
For years, I have battled the assumption that services provided through our nonprofit are free. Nothing is free and someone is paying as a service might be funded through a local foundation or a fundraiser. Taxpayer dollars also sometimes support service delivery. The end customer may not pay in full, but someone has provided funding to the nonprofit to deliver goods/services. - Duana Patton, OHIO DISTRICT 5 AREA AGENCY ON AGING INC
10. Nonprofit Workers Are So Self-Sacrificing
When I started my company people told me, "Oh, you're so self-sacrificing!" It was meant as a compliment, but I always thought it was off-base. Giving up my business career to help mothers and children was actually a huge win for me. Maybe I gave up the financial reward, but what I got was much greater—a chance to do work I sincerely found meaningful. Twenty-five years later, it still feels that way! - Howard Schiffer, Vitamin Angels
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f931c6248da8f16ef4e4edce394cdc05
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/03/30/15-email-marketing-tips-to-help-nonprofits-expand-their-reach/
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15 Email Marketing Tips To Help Nonprofits Expand Their Reach
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15 Email Marketing Tips To Help Nonprofits Expand Their Reach
Email marketing is a great way for your nonprofit to connect with people–especially now, as nonprofit emails saw a 5% increase in open rates last year. It's an ideal opportunity to maximize your email marketing strategy and take advantage of more eyes on your mission.
As some of the top leaders in the nonprofit industry, the members of Forbes Nonprofit Council know the importance of promoting their organizations digitally. Below, 15 of them share how you can bolster your nonprofit’s email marketing efforts.
Forbes Nonprofit Council members offer strategies on how to nonprofit leaders can boost their email marketing reach. Photos courtesy of the individual members.
1. Add Value
Nonprofit organizations that have developed successful email marketing strategies often have done so by adding value to their readers. The days of simply saying "this is us" or "here's what we do" are no longer effective. If you really want to engage stakeholders through email, your organization needs to find ways to offer something of value that helps meet the needs of stakeholders. - Jamie Aten, Humanitarian Disaster Institute
2. Focus On Your Impact
People want to hear, see and feel how they're making a difference through your organization. You truly would not be able to do what you do without the support of your donors, volunteers and community partners. Organizations should focus more on storytelling and stewardship and less on asks and statistics. If a reader keeps seeing ask after ask in your emails, they'll stop opening them. - Lindsay Crossland, The Salvation Army
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Make It Mobile-Friendly
As the human attention span continues to decrease, we have to utilize technologies affording us the chance to get people's attention quickly and with ease of use. Emails must be mobile friendly to encourage people to be able to open them quickly and contain images and messages that are concise. - Aaron Alejandro, Texas FFA Foundation
4. Tell Stories With A Purpose
Each nonprofit has a unique story and purpose behind their programs. Sharing stories from those who are receiving aid or benefiting from the programs connects readers to a human purpose and shares a new perspective. - Amanda Israel, Burger King Foundation
5. Capture Attention Immediately
If you are getting people to open your email, awesome. But you only have a few seconds to keep them engaged and moving closer to your ideal action. Capture them immediately with a story or stunning fact. - C.H. Dyer, Bright Hope
6. Show, Don’t Tell.
There is no better way to tell the story of an impact than through dynamic videos. The majority of people respond to visuals faster than text. Also, a well-told story is something that will stay in your audience’s mind for a long time. Make sure to finish with a call to action that will further engage your audience and convert them into loyal supporters. - Alejandra Guzman, New Orleans Business Alliance
7. Write A Strong Subject Line
Know who your supporter aspires to become in their dedication to your clients and causes. Write clear subject lines that reflect their aspirations and use the strongest verbs you can find. Be clear over clever so your message resonates, especially if your organization offers more than one impactful service. - KellyAnn Romanych, Veterans Legal Institute
8. Share Exciting Content That Matters To Your Supporters
Our charity has a 75% open rate of our newsletters, which is above the national average. The key to people wanting to read your emails is curating content that they care about, not just sending them an impersonal ask for support. The majority of our newsletters do not ask for support at all. We use them to highlight the good work our volunteers are doing, upcoming events and program reviews. - Sara Johnson, Mission 22
9. Give Them An Opportunity To Take Simple Actions
It's not just about email open rates. That can be accomplished with an alarmist subject line (e.g., "your payment is late") or a celebrity signer. You must keep audiences engaged and you can't just keep asking for money. Many of your emails must give supporters an opportunity to take simple actions, like reading a blog, watching a video or signing a petition. Engagement equals long-term success. - Rupert Scofield, FINCA International
10. Keep It Short
Everyone is busier than ever and we all know what it's like to delete spam and unsolicited emails. To maximize our email marketing strategies, we have learned to keep it short and concise. Instead of a three- to four-page newsletter, we simply pick a single topic and then write a brief (one or two paragraphs) story that our members can relate to and illustrate the topic in a real-world setting. - Ripley Tate, Web Fire Communications, Inc.
11. Simplify The Message
Tell your story. Share your successes and be direct about your challenges. Say thanks often and invite others to engage, participate, lead and give. Allow your donors to use smart communications to make it easy for donors to say "yes" in five seconds or less. It is not about complicated graphics. It is about gratitude, sharing and making it easy. - Patrick Coleman, GiveCentral
12. Ask A Question
When sending out an appeal or invitation, ask a question in the subject line. The question should be related to their altruistic views of helping others or solving a problem. For example, the subject line might say, "If your old jeans could make it possible for a mom to feed her children, would you help?" People are curious and that curiosity and generosity will nudge them to open the email. - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
13. Prioritize Quality Over Quantity
Increasing open rates is a balancing act. To create content that creates excitement but doesn't exhaust, alternate between urgent needs where the audience can see themselves making a positive impact and successes that their investment or time helped make happen. A planned media schedule (e.g., Good News Fridays or Need Your Help Tuesdays) can ensure better content and increase open rates. - Carlotta Ungaro, Convergent Nonprofit Solutions
14. Keep The Reader In Mind
Don't email your audience for the sake of emailing. Instead, email content that offers your readers something of value. Value doesn't have to be a giveaway or a freebie offer, but rather information that they can utilize on a daily basis to help benefit and stimulate their lives. - Dr. Sherry McAllister, Foundation for Chiropractic Progress
15. Respect Your Reader
If people are respected by the nonprofit sending them emails, there's a better chance they'll open and engage. So how should we respect our readers? By listening to them and to how we can truly serve them (not just pretend to serve them in order to serve us). Then we're guided toward the best ways to tell stories, respect their time, thank them and inspire them to make a difference. - Kent Annan, Humanitarian Disaster Institute
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052cc0d2f1a5d1d926240a69dfb8427b
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/04/10/digital-transformation-tactics-for-your-nonprofit/
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Digital Transformation Tactics For Your Nonprofit
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Digital Transformation Tactics For Your Nonprofit
Photo: Getty
Now more than ever, it's important to look at how you can add digital strategies to your nonprofit organization. In my own nonprofit, we've made a concerted effort to find more ways to work online to reach out to those who support our nonprofit and those who benefit from our purpose as a nonprofit.
Here is what I have learned through the digital transformation tactics that we have implemented.
Social Video Tools
Our focus has been to look for those digital tools that reach the largest part of our audience and at the lowest cost. That led us to explore social video tools, including Facebook Live. This tool allows us to conduct regular discussions online on a live basis and then provide the videos for ongoing viewing. In using this tool, more than one of our nonprofit representatives can present or participate at one time.
We've seen our engagement numbers go up because our audience is able to ask questions and make comments. In both cases, we can address those during the live video as well as follow-up after our live presentation finishes. This allows us to know what's currently on the mind of our audience so we can also adapt our content delivery to address those issues and needs. Although we focus on Facebook Live, Instagram has a similar social video tool that can also work if you have followers on that channel.
Consider leveraging social video tools to enhance your nonprofit's community outreach. Allow your supporters to have an outlet to ask questions to make suggestions. This collaboration could help drive a new project or simply improve your current operations.
Webinars And Podcasts
We've also found that it helps to use video conferencing tools like Zoom, GoToMeeting and even YouTube to conduct webinars. These webinars are a much more cost-effective and engaging tool to use than putting together what could be an expensive in-person seminar or conference. Rather than covering the cost of travel for expert speakers and participants, we have set up webinars to conduct panel discussions and share ideas virtually.
This spreads awareness of our message, our thought leadership and how we can help our audience. Plus, our colleagues in our nonprofit niche also get recognition without anyone having to invest in anything besides an internet connection, headset and webcam. We market these webinars on website landing pages that announce upcoming online events, as well as use our social media presence and email blasts to announce what's coming up.
Similarly, creating a podcast has also helped us expand our audience in an engaging way. When audience members don't have access to video, they can listen to our episodes and receive beneficial content that way. Our following has grown significantly since introducing our podcast and getting it listed on various podcast directories.
Consider using tools like video conferencing or podcasting to further spread your nonprofit's message and reach new supporters. Because these options are cost-effective, they're a natural fit for any organization looking to boost visibility. Creating content for your supporters and representatives is a great way to strengthen the sense of community and value.
Online Outreach And Additional Resources
Like so many startups that also operate on a shoestring budget, nonprofits have to be careful about spending during a digital transformation. The good news we discovered is that you don't have to invest in everything or spend a lot on what you do decide can help with your digital transformation.
While your nonprofit may have different requirements, here's what we've added to our organization:
• We use free content calendar templates to create a content calendar for what to deliver to each channel and when.
• We've added a basic CRM tool that allows us to better manage our database and send out personalized and timely messages to donors rather than using printed collateral.
• The aforementioned social media video tools are part of our social media campaigns that periodically include targeted Facebook ads. These low-cost advertising methods also deliver analytical data that helps us better understand our audience.
• The video conferencing tools listed above also offer low-cost plans that provide a good return for the nominal investment.
• We use some free and low-cost SEO and content tracking tools to help shape the content we deliver to our audience through our blog, website and social media channels.
Look at areas in your organization that need attention the most. Come up with a list of resources or tools that could help inefficiencies. You don't have to invest a large amount of money to get results.
Before implementing any steps toward digitally transforming for your nonprofit, take the time to study what others have done. There are many examples and resources on channels and media outlets (e.g., Facebook, YouTube, etc.) to watch and learn from. Doing so can help you avoid any missteps for your own nonprofit, as well as guide which digital tactics to use for your specific nonprofit goals.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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15e777be09424660a11fa2b40acee9e8
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/04/22/five-ways-nonprofit-leaders-can-lead-in-the-midst-of-a-crisis/
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Five Ways Nonprofit Leaders Can Lead In The Midst Of A Crisis
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Five Ways Nonprofit Leaders Can Lead In The Midst Of A Crisis
Photo: Getty
We are in the thick of a global crisis. Every sector of society is being affected, and nonprofit leaders, who do some of the most important work in the world, are stuck in the middle of the chaos and wondering what the future will hold. In uncertain times, we as leaders have to change our mindset. We have to ask what is possible, and then pivot in order to advance the mission of the organization.
As the leader of a nonprofit focused on empowering local leaders to create sustainable change, I've seen just how imperative great leadership is, especially in times of crisis. Based on my experience here is my advice for other nonprofit leaders on how they can be effective and compassionate leaders.
1. Be decisive.
As a leader, your team and your donors — the people who fuel the mission of the organization — are looking to you for clarity, direction and reality. This requires that you make quick decisions that will bring hope and focus to your team and donor base. A simple example: Once I realized that in the current climate traveling posed a great risk to our team and to the communities we serve, we shut down all international travel for 90 days. This decision provided clarity so that moving forward, no one on our team has to use any mental energy thinking or worrying about that.
Being decisive does not mean that you need to be a hero with all of the answers. Every decision doesn't have to be long-term, and you may pivot many times. But one thing is for certain — you do need to be intentional and decisive in order to protect your organization.
2. Think short- and long-term.
In times of crisis, every leader needs to think short-term and long-term. Your short-term thinking will focus on how you will continue to operate in the current moment. Your long-term thinking will focus on how you will thrive. Short-term thinking helps your team and your donors understand what needs to take place right now in order to survive. Long-term vision casting will allow your donors to see beyond the chaos to the potential opportunities on the other side of this situation.
When your people see how well you led them through the crisis, you will have a stronger community that trusts you, one that is, therefore, more committed to the mission at the end of it. The best leaders know in good times and hard times that progress is possible.
3. Care for your people.
I'm thoroughly committed to the mission of my nonprofit. As the founder, it has become such a deep part of my life. But I am not the only one. Just like other nonprofits, there are thousands of others who are also committed to the mission. In your nonprofit, the folks who donate and advocate and sacrifice for the organization are absolutely critical to driving forward the mission. In the midst of chaos, they need to know that you care for them as well. Times of crisis affect all of us in many ways.
Spend some time on the phone with others who support your organization in whatever way, no matter how small. Ask questions like: How are you? How are your family? How's your day-to-day? Just listen to them and let them share and decompress. You care for these people and you want them to know it.
4. Create clear content.
Content is king, and in the midst of a crisis, content can provide direction and help re-center organizations back to their mission. Create content that can be helpful for your audience. For example, I am using videos right now to update our people.
Your followers and supporters need to see and hear from key leaders in your organization — this can help give them peace of mind. You also want to create content that will add value to your people. It is a powerful way for us to serve them and give them resources that they need to navigate life.
5. Remind people of who they are.
Fear is a beast that can wreak havoc on us. In times of chaos, it is natural to turn inward out of fear. It is easy to lose sight of our core values when we are afraid. That is why you must urge your people to hold tight to their values, whatever they may be: community, generosity, religion, health, family, etc.
You want to be able to look back on how you responded, and feel proud knowing that you did not lose yourself amid the chaos. That is why through the tough changes and hard decisions, you need to remind people of who they are and what they stand for. You must remind them why they are involved in and support your organization. You must encourage them to let those principles be their guide, and not fear, as they navigate the chaos.
Leading in times of crisis is not easy, and the current climate is an entirely new scenario. We don't know what life will look like on the other side, but we do know that we can overcome it, and we can even thrive despite it. If you lead well and fight hard, you will have opportunities for greater impact.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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ae4526774d7d6e71c32ec73e6f2dca4d
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/06/01/forging-a-central-role-for-health-systems-in-community-partnerships/
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Forging A Central Role For Health Systems In Community Partnerships
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Forging A Central Role For Health Systems In Community Partnerships
Photo: Getty
More than anything else in our lifetime, the impact of the COVID-19 pandemic has illuminated the interconnectivity of all facets of our nation’s health and social welfare system. History will record our response, lessons learned and actions in hopes of mitigating future events. COVID-19 has placed a bright light on our country’s yet-to-be-realized opportunity to create optimal health.
When we fail to seriously address our society’s underlying chronic illnesses and fall short of protecting public health, we put the health of our people, institutions and economy at risk. Food security, adequate housing and freedom from poverty are among the most critical drivers of lifelong physical and mental health, yet our healthcare system is simply not designed to tackle these problems without partnerships.
As centralized providers of care in every community, health systems experience firsthand the significant impact that these social determinants of health play in our patients’ lives. To help improve the social drivers of poor health, health systems must increasingly become active partners in, or catalysts for, strong, strategic and well-coordinated multisector partnerships within communities. Prioritizing this work can help change the narrative on what “health and wellness” really means.
Examples of the ability of such multisector networks to improve measures of population health are emerging across the country, providing valuable case studies and learnings that can be adopted in other communities and inspire health systems to transform their approaches to building wellness and health in the communities they serve.
As president and CEO of Nemours Children’s Health System, I've seen firsthand how vital it is to take an active role in driving greater change when it comes to the health of our communities. Healthcare organizations and their leaders must be willing to forge new paths toward innovation and social change to address our society's health concerns.
My organization explored how healthcare institutions can lead and drive greater change and partnership for community health. Our results are summarized in a brief, titled "Preliminary Findings on the Role of Healthcare in Multi-Sector Networks for Population Health: Notes from the Field," which outlines key components for the formation and successful operation of such networks across the nation.
What are the secrets to building lasting and transformative partnerships to successfully address the social determinants of health for entire communities?
Partner with organizations to split the risk and the reward.
Healthcare systems are experts in delivering medical care. To fully deliver health and well-being, we must partner with experts in education, food security, adverse childhood experiences, transportation and other social determinants. We must also broaden the definition of health in relation to policies and practices by teaming up with state and community-based entities.
Adopt a population mindset.
The concept of “our patients” across the industry needs to fundamentally change. Currently, it means those patients in our hospital or on our clinic schedule. “Our patients” must come to mean all people for whom we are responsible and all of those in the communities we serve. Adopting a population-health mindset also dictates identifying and targeting services to subgroups of people with an increased need for health and social supports, such as those with poorly controlled asthma, or those with learning disabilities. Modern electronic systems have made it markedly easier for us to identify such groups so that we can directly provide the help they need.
Build trust.
Success in this catalyst role requires trust among partners and those we serve. To build trust, healthcare organizations need to create mechanisms (e.g., listening sessions, community forums, opportunities for co-design and leadership, etc.) to gather input from organizational leaders, community residents and partners to help improve conditions.
Prioritize the voice of the community.
It’s important to devise strategies to capture the voices of people with lived experience with nonmedical problems that greatly compromise their health and well-being. Healthcare institution leaders should cultivate collaboration and provide opportunities for community leadership and co-design. Additionally, inpatient screeners looking at underlying social determinants of health can help inform strategies by identifying the strongest areas of need.
Final Thoughts
For this next generation, more than any other population, this is healthcare’s most vital mission, because addressing these all-important social determinants will lift every child’s chances for lifelong health, well-being and success. This is how we can reduce chronic illness into adulthood and enhance public health for generations to come.
The work to build trust and gain traction is difficult and complex. Recognize that you can be a leader and a learner at the same time, especially in difficult times like those we face today during the COVID-19 pandemic. Take advantage of opportunities to leverage your organizational expertise, and seek to gain additional knowledge from learning from the other organizations you are working with. Treat community members as the experts they are. Engage authentically with the end users to understand what works for them and what will encourage them to engage in new systems.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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c0d92fd06c5c097e9019f20b9f69a891
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/06/15/eight-steps-to-take-if-you-didnt-meet-your-fundraising-goal/
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Eight Steps To Take If You Didn't Meet Your Fundraising Goal
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Eight Steps To Take If You Didn't Meet Your Fundraising Goal
Most nonprofit organizations rely, at least in part, on the generosity of their supporters. Fundraising can help nonprofits raise the necessary capital to support their mission and keep the organization running smoothly.
Unfortunately, there are times when a planned fundraising campaign falls short of its target. This can be disheartening at best and a huge roadblock at worst—but if your nonprofit doesn’t meet its fundraising goal, all hope is not lost. Try these eight steps recommended by the members of Forbes Nonprofit Council.
Forbes Nonprofit Council members outline steps nonprofit leaders can take when fundraising falls short. Photos courtesy of the individual members.
1. Perform A Funnel Analysis
A fundraising campaign is like a marketing campaign. Monitor the channels in which you reached out to your audience and measure how many of them generated leads and came to your fundraising campaign. Then, note how many of them dropped off the funnel and who all completed the donation. Slice and dice the segments of people who dropped off the funnel and dedicate proactive outreach measures for them. - Deboshree Dutta, Women in Product
2. Treat Donors Like Heroes
Let the donor feel like a hero. Most of the time, nonprofit organizations are too self-referential and unable to engage stakeholders and provide confidence among their constituents. A successful fundraising campaign should give the opportunity for the donor to become a "social hero." For them, supporting your work means stand up for what they believe in. Don't forget it. - Paolo Petrocelli, EMMA for Peace (Euro-Mediterranean Music Academy)
3. Analyze Your Campaign
An important step to take is to assess or analyze the campaign. Decide if a change needs to be made regarding the outreach to donors. Make sure that the message to donors is appealing, authentic and on brand for your organization. - Charles A. Archer, One Hope United
MORE FOR YOU5 Ways Biden’s “American Rescue Plan” Could Help People With DisabilitiesWhite House Press Secretary Jen Psaki Is Providing Key Crisis Communication LessonsUniversity of Colorado Takes Action Against John Eastman
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
4. Review And Refine The Process
One of the more important steps we consider is that not meeting a goal doesn't equal failure. Instead, it opens up a door to review our process, adjust our approach and move forward so that we do not make the same mistake twice. Being able to adapt and replace the term "failure" with "lesson" helps us continue to build on campaigns and structure our organization for future success. - Thomas Milana, Man Cave Health
5. Learn From The Mistake
As a business, it is normal that some campaigns do not work out as planned. I believe that as professionals, our duty is to figure out where we went wrong. A mistake has been made, so find the disconnect and make sure that the same thing doesn't happen a second time. You might be quick to make mistakes, but the learning process should be quicker. Stick by that rule. - Patrick Coleman, GiveCentral
6. Distinguish Internal And External Challenges
First, ask your lead fundraiser for an assessment. Was it the wrong strategy, poor execution or something external? If it was the latter, was it an economic downturn that affected the entire sector or was it specific to your organization? If it was the wrong strategy or poor execution, then assess if you have the right team in place or if you need to manage them more closely. - Rupert Scofield, FINCA International
7. Emphasize The Fun
If you don't meet your goals, take a step back and reevaluate the need and purpose of the fundraiser. I have never subscribed to raising funds via events. Events are great for "friendraising" and bringing awareness to your cause, but if you spend the same amount of time building relationships with supporters, they soon become donors. Have the fundraiser, but let the emphasis be on "fun." - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
8. Be Persistent
If we want a place where it never rains and there are no storms, it exists and we can go there; it's called a desert where nothing grows. Coming up a little short is a chance to evaluate, adjust and be persistent. If a goal is a target that beckons, remain focused and passionate. Your tenacity will be contagious. - Aaron Alejandro, Texas FFA Foundation
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d61407b3d9b7bba9b835910037415fc9
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/06/18/why-it-is-vital-for-leaders-to-mourn-the-loss-of-vision-during-a-crisis/
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Why It Is Vital For Leaders To Mourn The Loss Of Vision During A Crisis
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Why It Is Vital For Leaders To Mourn The Loss Of Vision During A Crisis
Photo: Getty
Leadership is tough. No matter how many years of training or experience one has, being a leader constantly presents new challenges to tackle. The COVID-19 pandemic has brought leaders face to face with unprecedented hardships. I am optimistic that despite the setbacks that this pandemic has brought many of us, the future can be better than the past. However, in order to move forward as productive and effective leaders, we must take the time to acknowledge what we’ve lost in this season and give ourselves the space to grieve our hopes and plans.
I believe that great leaders have the ability to thrive in the best of times and problem-solve in the worst of times. It's a constant juggling act. As the reality set in that the pandemic was going to change everything, I immediately went into full-scale decision-making mode. Within 24 hours, my team and I executed dozens of high-level decisions. While those initial decisions may have felt overwhelming, it was a step we needed to take immediately. Then, shortly after, I had a season of calm. Yes, the storm was raging, but we had made the key decisions to survive the current storm, and we had hope that those initial decisions could make the organization even better in the future. The storm is teaching us vital lessons on the fly, and these lessons are huge, affecting not only today, but the future of our organization.
Despite the calm, confidence and hope I felt as I settled into new routines, one day, in the midst of it all, I found myself feeling angry and discouraged. I could not pinpoint why these feelings were coming to the surface. Then, I realized something: All these changes and pivots my team and I made as an organization brought so much loss with them. Going into the year, we’d had amazing trips, epic live events and experiences, and big opportunities ahead of us.
As I started to delete these events from my calendar and review the things being canceled, the opportunities lost and the connections broken, I realized that meetings would not be held in person, and I would not have those invaluable face-to-face connections around a table with good friends and good food and drink. Instead, we would be in our own homes, having conversations over video. Our galas and gatherings would look different. All the physical connections and conversations we cherish as an organization would have to change.
The shifting of my calendar made me realize I was angry about what was lost. The year 2020 was supposed to be big for my organization. We spent two years working on a new vision, and 2020 was the coming-out party. We kicked off the year in January hosting our best event ever; it was a gathering full of vision casting, relationship building and learning alongside some of the most brilliant people I know.
Suddenly, six weeks later, it felt as though our momentum had stopped. I considered that maybe for a moment, this pause would be good; we could rest and catch up. After some time, I realized this pause may last longer and have larger repercussions than we could have ever imagined. A pause that I had envisioned to span a few weeks was shaping up to be months long. Even now, we still don’t have the clarity of what life will look like in the future.
With that realization in mind, I had to give myself permission to mourn the loss of vision for my organization. I had to slow down and do some thoughtful soul work. I needed to give myself the grace to feel the sadness and to let it sink in. Doing this hard work is necessary to lead well while moving forward in these uncertain times.
You are probably just like me. You’ve worked so hard, and 2020 was going to be bright. You had all kinds of dreams you were chasing, and in an instant, they were gone, and you were left feeling empty.
You cannot effectively lead beyond this crisis tomorrow if you don't properly mourn your loss of vision today. Here's how:
1. Schedule a time to think. Really process what has been lost in your life personally and professionally. Scheduling time to process your emotions holds you accountable to actually sit down and dedicate the time to think through what you are experiencing.
2. Write down the loss, and then journal your thoughts. I had a trip planned to visit one of our partner communities. I was going to invite a handful of people to join me. I was disappointed that I was not going to travel with these friends, and I was frustrated because I know how important trip experiences are so that my organization can make a real impact and fulfill our mission. Writing everything I was feeling on paper helped calm my mind, organize my thoughts and give me the clarity to feel ready to take the next steps forward.
3. Think differently. We all acknowledge that life has changed and our "new normal" can feel like a real bummer, but we should also acknowledge that change brings all kinds of new opportunities. Take a moment to write those opportunities down. Let these new opportunities fuel you so you can have a clear vision and begin to plan your new path forward with optimism.
Bottom Line
It is easy to get caught up in the hustle and forget to slow down and feel the pain; however, I believe the best leaders in the world will take the time to reflect, mourn and embrace the loss. They will accept it and harness it to then build something better. I believe that the future can be better than the past. To make this goal a reality in this season, we must allow ourselves to mourn so that we can move forward and build a better future.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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7e58a126ab83ec9da9b02d28fe88b4cf
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/06/25/three-ways-to-pivot-your-csr-strategy-to-find-new-opportunities-amid-the-pandemic/
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Three Ways To Pivot Your CSR Strategy To Find New Opportunities Amid The Pandemic
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Three Ways To Pivot Your CSR Strategy To Find New Opportunities Amid The Pandemic
Kevin Xu is the Founder of Human Heritage Project, and the CEO of National Rongxiang Xu Foundation and MEBO International.
The novel coronavirus and its impact have been covered from every angle imaginable. Every thought leader and think-piece writer has penned something about how the pandemic is affecting them, their customers and every facet of their industry.
As the economy and workplaces resume some semblance of normalcy, eyes now turn to how those industries and thought leaders will respond. The new standard will look different for everyone, which presents new challenges to overcome and new opportunities to pursue.
There are some particularly intriguing possibilities in corporate social responsibility (CSR), something that has always been a passion of mine. Covid-19’s effect on large swaths of the population is well documented. With corporate social initiatives, businesses can help themselves — and their communities — handle the pandemic’s fallout.
Where CSR Can Offer Aid
The time-tested adage of “lending a hand” takes on a different meaning in the aftermath of a global pandemic. CSR initiatives usually bring an organization into closer and more direct contact with a specific community. Now, however, companies with philanthropic intentions must find ways to do social good under different circumstances.
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For some, it can be as simple as offering up facilities as testing sites. For example, Los Angeles County recently unveiled a plan to partner with California State University, Los Angeles to provide free testing at the brand new Rongxiang Xu Bioscience Innovation Center, named in honor of my father. Originally scheduled to open later this year, the facility will allow walk-in service instead of the drive-thru method many testing stations use.
Nonprofit organizations also have the funds to empower the search for new solutions after the pandemic. In April, the Clinton Global Initiative University announced the formation of its Covid-19 Student Action Fund. The fund will provide financial support to college students around the globe who want to address public health, economic and social fallout from the virus.
Where financial support might help kick-start the formulation of solutions, CSR initiatives can provide technological resources to bring those solutions to life. My University of Chicago-based initiative teamed up with the Massachusetts Institute of Technology and New York University to develop our Co Safe tool, an effort designed to learn about the path of the novel coronavirus. The tool will use testing data to track where the virus has been and which areas are most in need of additional prevention resources.
With the pandemic affecting much of the world in some way, CSR initiatives have the chance to benefit global communities rather than smaller locales. Finding different gaps to fill and serve is crucial for helping businesses curb the long-term impact of the virus.
Adjust Your CSR Strategies To The Current Climate
Businesses hoping to bring change with their CSR efforts should look for new and unique opportunities amid the pandemic. Here are three ways to pivot your CSR strategy in the wake of the pandemic:
1. Take a worldwide perspective.
Until a vaccine emerges, it is projected that we will experience ebbs, flows and spikes in infection rates. Prepare for those shifts by thinking about how the seasons may affect the virus and adjusting your CSR approach to fit them globally.
Peak seasons for the U.S. will differ from countries in the southern part of the world that experience different winter months. Think about where your CSR initiative is located and the community it serves, and shift what your philanthropic efforts will accomplish based on those findings. While there are still many unknowns when it comes to the virus, be sure to prepare in order to pivot accordingly.
2. Increase your online presence.
Information regarding the pandemic and current climate changes daily. Online forums and digital correspondence can help put some of those changes and experiences into perspective for CSR initiatives looking to bring relief.
Unlike previous global health events, the pandemic's occurrence in the social media age enables the dissemination and debunking of information at a quicker rate. Lean on the verifiable data and insights that platforms such as Facebook and Twitter provide. These findings show what’s happening at the moment and can help your efforts provide more real-time impacts.
3. Learn from experts.
Look to organizations or partners with specialized areas of expertise. Their knowledge might not be specific to the disease, but it could still help fuel your initiatives.
MAP International, for example, is experienced in disaster response and provides respite to areas that need support during trying times. During the initial outbreak, MAP International partnered with UPS to provide 120 pallets of supplies (e.g., masks, gloves, coveralls) to patients in the Hubei Provincial Center for Disease Control and Prevention in Wuhan, China. Think outside organizations you might normally partner with — pivoting your CSR initiatives may require you to think bigger.
Final Thoughts
The tactics of your CSR initiatives during the pandemic might look slightly different, but their intents shouldn't change. Find ways to use effective CSR measures during and after the pandemic to leave the impact you envision on your local and global communities.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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14eded1a8790429390e08d70849fdfae
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/06/30/12-skills-nonprofit-leaders-should-learn-to-improve-their-work-and-life/
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12 Skills Nonprofit Leaders Should Learn To Improve Their Work And Life
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12 Skills Nonprofit Leaders Should Learn To Improve Their Work And Life
Growth is an ongoing process, especially for managers and leaders. No matter how long you’ve been in your position, it’s always worthwhile to continually develop different skills so you can keep up with trends and stay ahead of the curve.
This is especially true in the nonprofit sector, which often requires its leaders to possess unique skills. That's why we asked members of Forbes Nonprofit Council what skills they’re interested in learning to improve their work and life. Below, they share 12 things they’d like to master as nonprofit leaders.
Members of Forbes Nonprofit Council offer crucial skills nonprofit leaders should learn or develop. Photos courtesy of the individual members.
1. Public Speaking
Lately, I’ve focused my time on learning how to level up my speaking skills. Even though I’ve been speaking on stages for 20 years, it was a reminder that even with experience, we can always do better. I hired a coach and spent four days learning and practicing from the best, and now our entire team is working on a new signature talk. It’s an investment for now, but also for the next decade! - Chris Marlow, Help One Now
2. Design Thinking
My team and I are focused on learning design thinking. Building the skills of empathetic listening, idea generation and iteration is critical to our work. This widely inclusive method enables new strategies, continuous improvement and critical reflection. It's also something we can share with stakeholders and grantees and use internally to design safe and productive post-Covid-19 operations. - Tammy McLeod, Flinn Foundation
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Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
3. Conflict Management
Honing our own skills is always important. We need to stay relevant in an environment that is changing. Our most recent experiences with Covid-19 brought the best and the not so good out in all of us! We are less patient and maybe a little scared. That leads to more conflict and conflict management training may just be what you need. Be prepared and stop conflict before it really becomes a problem. - Magdalena Nowicka Mook, ICF (International Coach Federation)
4. Spanish
In high school, I was fluent in Spanish and even considered majoring in Spanish in college. I can still speak Spanish, but I now understand the language better than I can speak it. The skill that I want to relearn, therefore, is Spanish. Most of the world is bilingual. Armed with this skill, I will be able to more authentically interact with Spanish-speakers on a personal and professional level. - Yolanda Watson Spiva, Complete College America, Inc.
5. Networking
I am working to meet people where they are in terms of my leadership style. Philosophically, that makes sense, but like most leadership skills, it's easier said than done. While I may have spent months planning for an opportunity, it may be completely new to a colleague. I'd do well to meet colleagues where they are and walk side by side with them as we try something new. - Carrie Rich, The Global Good Fund
6. Innovation
One new leadership skill is learning to be innovative. This skill informs and improves my leadership style. From supporting staff to developing a growth strategy, it is key to ensuring the sustainability of an organization. - Charles A. Archer, One Hope United
7. Technological Skills
Technology is a driving force in all business innovation and I'm developing my skills to keep my team and my organization relevant and agile. My team and I meet virtually often and we comment on all of the new skills that we've acquired during this time of social distancing. These skills will be with us long after this pandemic is over. - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
8. Empathetic Leadership
With growing responsibilities, larger and more diverse teams and a constantly changing ecosystem, the real challenge for a leader is to keep a compassionate and empathetic approach to coaching and growing teams. This skill has helped me become a multiplier. It also has helped my team members build on their own skills and take on parts of the organization to lead. - Deboshree Dutta, Women in Product
9. Virtual Meeting Facilitation
Something I continue working on is the ability to inspire and create a shared vision of success when our team can't gather in person. Keeping meetings focused and engaging is tough enough in person, but doing so remotely (often with spouses, kids and pets in the background) is especially daunting. This skill will improve my work and life by improving the work our team is doing together. - Clark Sweat, Children's Miracle Network Hospitals
10. Management
If you’re early in your career, consider going back to school for management and leadership training, but be sure the principles are both innovative and relevant to the times. If you’re farther down the road, you’ll likely learn the most from people in your field who have made an impact. My podcast has allowed me to meet and learn from fascinating people in social entrepreneurship. - Rupert Scofield, FINCA International
11. Intergenerational Communication
Nonprofit executives are dealing with Baby Boomers, Generation X, Generation Y and Generation Z, the new silent generation. Each generation has a preferred mode of communication. I am constantly looking for data, examples and techniques which show the greatest return when dealing with each generational group. The more tools we have in the tool belt, the more opportunities we can capitalize on. Be the bridge. - Aaron Alejandro, Texas FFA Foundation
12. Delegation
When you have been in the field for many years, then you have been more or less exposed to different skills. One skill that a nonprofit leader must master, especially in these times is definitely that of delegation. You have to be able to distribute the right work to the right people so that you are left with the work that you can do best. You can then focus on executing your part with excellence. - Patrick Coleman, GiveCentral
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616b0e5ac2d2c93c21dd45844f4129d5
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/09/18/its-time-for-greater-foundation-board-diversity/?sh=7c732a7d21af
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It's Time For Greater Foundation Board Diversity
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It's Time For Greater Foundation Board Diversity
Herman “Art” Taylor is president and CEO of BBB Give.org, America's standards based charity accountability evaluator.
getty
Given the current state of affairs in America regarding racial diversity, equity and inclusion, I feel compelled to issue a call to action to many American foundations to change the composition of their governing boards to reflect the diversity of the country.
Citing the 2017 BoardSource report Leading With Intent, Mission Investors Exchange notes that "Of the 111 private foundations surveyed, 85% of the total number of board members at their organizations were white, and 40% of foundation boards were 100% white."
I find these figures especially stunning now when the nation is attempting to grapple with issues of racial diversity, equity and inclusion at all levels in our society. The lack of diversity on too many foundation boards is a stark reminder of the tenacity of America's white power structure.
I could list many reasons why these boards would be better off if they reflected the diversity of the country. However, by the very nature of their works as "philanthropists," they know all too well its advantages to our society, and yet they persist in their nose-thumbing exclusiveness. Alas, I can only conclude that it's not for lack of knowledge that their boards remain white but their unwillingness to alter organizational structures that have kept Americans of color out of rooms where power is exercised and resources are allocated. There are notable exceptions worth emulating.
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The Chicago Community Trust is a shining example of the positive effects a diverse board has on an organizations' direction and grant-making. Its diverse board and staff have made a strategic plan for eliminating race-based economic disparities in the region. It notes that by doing so, the region will be an estimated $4 billion richer. To accomplish this it is working with a diverse set of partners who are closely connected to the community.
Similarly, the Ford Foundation has invested in "Gender, Racial and Ethnic Justice" and its board diversity reflects this commitment. Also, it's not surprising that the diverse members of the California Wellness Foundation Board are committed to funding the urgent needs of people of color. Clearly, these organizations understand the value of board diversity. Those boards help to shape investments and programs that will lead to a more just society.
The time for change is long overdue. I have spent most of my 40-year professional career in the nonprofit sector. I have attempted at every turn to encourage real diversity, equity and inclusion in my own organizations as well as others within our field. Despite my efforts and those of other field allies, little has changed in the racial mix of foundation boards.
I urge foundations to fund an independent organization to conduct another study so we may see if progress has been made since 2017. Then, starting in 2022, any foundation that is not able to show substantial progress on its board diversity should be required to pay an excise tax each year that no progress is made.
If foundations refuse to lead on critical social change, then it is time that they are held accountable. It's wrong for foundation boards to continue their exclusive governance practice while getting tax subsidies from diverse American taxpayers. It's my hope that this will bring about long-overdue change.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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c87c4416b9b54309305fb0ba89b9f3ff
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/09/18/three-ways-to-go-virtual-with-your-fundraising-efforts/
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Three Ways To Go Virtual With Your Fundraising Efforts
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Three Ways To Go Virtual With Your Fundraising Efforts
Kevin Xu is the Founder of Human Heritage Project, and the CEO of National Rongxiang Xu Foundation and MEBO International.
getty
In-person events in several industries fell victim to Covid-19. While businesses can lean on their virtual workspaces, and retailers can default to curbside pickup and e-commerce, few organizations rely on in-person meetings and interactions more than nonprofits.
Just look at The Homeless Alliance in Oklahoma City, which routinely coordinates curbside flower fundraisers on Valentine's Day, Mother's Day and — starting this year — Father's Day. Before the pandemic, the organization planned to create a traditional brick-and-mortar store; Covid-19's disruption of the flower industry and uncertainty related to the global health crisis put those aspirations on hold.
My experience as a nonprofit leader has taught me about the power of in-person fundraisers. But in this era of social distancing and remote work, philanthropic groups must figure out how to translate awards dinners, auctions and other fundraisers to a virtual environment.
When implemented properly, virtual fundraising can drive results. Nonprofits must be quick to embrace virtual environments to nurture donor relationships and provide the funds they need to accomplish their missions.
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Building An Agile Approach To Fundraising
According to a March 2020 survey by CAF America, almost 97% of nonprofits surveyed said they were negatively affected by the virus; nearly 68% of those nonprofits reported decreased contributions. To combat the challenges of the pandemic — and other unforeseen events — nonprofits need an agile approach to communication and outreach.
Nonprofit organizations are largely set in their ways when it comes to volunteer, donor and community outreach. With Covid-19 creating plenty of obstacles, the world at large has been forced to adjust to the new normal. Considering how heavily nonprofit organizations rely on face-to-face interactions, which are temporarily impossible, they must find ways to connect and communicate.
Many nonprofits rely on annual conferences for in-person interactions, but travel restrictions in many areas mean those trips will not happen anytime soon. Nonprofits are well aware of how these limitations will impact their typical outreach methods, with the CAF America study revealing that only 2.6% of nonprofits expect to see revenue growth in the next 12 months. Virtual outreach — and other nontraditional fundraising methods — can help nonprofits grab a share of that revenue stream.
Adopt A Virtual Fundraising Model
In a rapidly changing environment, nonprofits must adopt an agile mindset. That includes implementing new technology, embracing new forms of communication, and getting creative with outreach and fundraising.
While technology can be a useful ally during these unusual times, creating engaging and innovative virtual events is still a significant challenge. Here's how your nonprofit can adapt and overcome the hurdles created by the pandemic:
1. Adopt a new approach to fundraising.
Social distancing guidelines haven't completely changed the need for live events. Livestreaming fundraisers can provide nonprofits with a way to replace awards ceremonies, races, galas and other in-person events. While virtual fundraisers aren't a novel concept, they have become increasingly popular during the pandemic as nonprofits scramble to engage donors in meaningful ways.
Planning a virtual experience is quite similar to an in-person event. Organize your team, set event objectives, create a budget and make the most of the digital tools at your disposal. Several social media platforms now have fundraising functions that nonprofits can leverage. For example, both Instagram and TikTok have implemented live donation features that make it easier than ever to donate to a cause. Make the most of these platforms to bring fresh eyes and new donors to your established nonprofit organization.
2. Add new communication channels.
Bringing your nonprofit into the virtual world could potentially expose it to new contributors, which should be a welcome change. For example, my company works with multiple universities, including Harvard Medical School, to build online registries for newly discovered Covid-19 symptoms. The partnership's goal is to provide a comprehensive, global database to track the virus.
For groups to connect with potential donors, you'll need to meet your audience in the middle. While it's certainly helpful for your nonprofit to have its own website, consider using a platform like Facebook Fundraisers, which has already raised more than $2 billion. Find new engagement models that cater to the preferences of your contributors and provide simpler, more convenient ways for them to support your cause.
3. Experiment with meeting apps.
Instant communication is commonplace in business these days, and nonprofit organizations are no different. With the help of online meeting apps, however, collaboration can continue between remote teams and team members.
For instance, Zoom meetings have allowed organizations to maintain weekly routines regardless of geographical distance. Time zones can get tricky for international groups, but the ability to hold real-time meetings can help keep everyone on the same page.
Many platforms are offering their services or trial versions of their software for free during the pandemic. For example, Microsoft Teams is free for the first six months, Dropbox Premium offers a three-month trial to nonprofits working on projects related to Covid-19, and Higher Logic is offering free access to its digital tools for the remainder of 2020. Find the solution that best suits your needs to keep raising funds — and complete the rest of your nonprofit operations — from a distance.
Between a global health crisis, social distancing guidelines and remote work, nonprofits are facing more significant challenges than ever before. To solve these problems and maintain their operations, they must adopt a virtual approach. Without that, nonprofit organizations will struggle to capitalize on opportunities both now and in the future.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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6adf914dfd96ba59731bdf1e4393bcfa
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https://www.forbes.com/sites/forbesnonprofitcouncil/2020/10/09/how-to-foster-stronger-more-diverse-nonprofit-leadership/
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How To Foster Stronger, More Diverse Nonprofit Leadership
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How To Foster Stronger, More Diverse Nonprofit Leadership
Kevin Xu is the Founder of Human Heritage Project, and the CEO of National Rongxiang Xu Foundation and MEBO International.
getty
In the nonprofit world, leadership often doesn’t mirror the makeup of the people these organizations seek to help. One recent study found that less than 20% of nonprofit director roles were filled by minorities — a shamefully low number that most would agree should be corrected.
However, agreeing with something and actually making it happen are two very different things. Many organizations simply don’t know how to encourage diversity. Cultural differences and unconscious biases lead to hiring practices that value certain backgrounds and schools over others, causing recruiters to miss out on wide swaths of qualified candidates without realizing it.
As someone who grew up in China and is now the CEO of a global nonprofit, I’ve seen how cultural differences can create obstacles in hiring that nondiverse leadership isn’t necessarily prepared to overcome. For organizations to succeed in their mission statements, they need to do more than just hit a diversity number — they need to rethink what they value when it comes to finding smart and qualified people for their teams. Only then will they manage to achieve true diversity and help push their organizations to greater heights.
Why A Lack of Diversity Stunts Nonprofit Trajectory
Putting aside what should hopefully be the obvious ethical reasons that greater diversity is a good thing, the simple fact is that diverse companies outperform their nondiverse counterparts. One 2017 study showed that companies with ethnically diverse leadership were 33% more likely to perform better than less diverse competitors.
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For example, a leadership group of mostly white men will inherently blinker your company’s perspective. This homogenized setup causes companies to miss out on opportunities to expand and communicate with communities of color as well as with countries around the world.
Even more concerning, a lack of diverse leadership usually makes it more difficult to diversify the rest of your company — creating a self-defeating cycle that’s hard to break. For a nonprofit to appeal to and engage diverse parties, its leadership needs to look the part.
Make Diverse Nonprofit Leadership A Priority
It seems almost too simple, but making your nonprofit leadership more diverse is a straightforward way to help the rest of your company become more diverse. Yet, too few organizations are taking this step — probably because they aren’t sure where to start. Here are three steps you can take to diversify your leadership and boost your nonprofit’s health in the process.
1. Develop a mentor program.
Mentorship programs are already known to support a healthy talent pipeline and increase engagement and retention. What you might not know, however, is that these programs can also help you create a more diverse management team. According to one Harvard Business Review study, mentorship programs have been shown to increase the representation of women and minorities in leadership roles by as much as 24%.
In my own experiences, I’ve found mentoring to be deeply rewarding. Not only has it expanded my cultural horizons, but it’s also given me new perspectives on areas beyond my normal expertise. My work with MIT Solve, for instance, gave me the chance to help a talented Korean student along his path to nonprofit leadership; it also taught me a lot about helping disabled veterans that I would have never learned otherwise. This speaks to the diversity of experience that many nonprofits lack because they don’t expand beyond traditionally homogenous talent pools.
2. Recruit beyond your borders.
Move beyond your traditional borders by actively recruiting from historically Black colleges and universities, women’s colleges and institutions of higher learning that cater to underrepresented groups. Consider soliciting referrals from existing minority employees to expand your network, and advertise open management roles through media that caters to a more diverse audience.
You should also expand your borders when it comes to networking. I recommend attending global forums, such as the Concordia Americas Summit in Colombia, for instance. In addition to broadening your horizons, these events can also open up new talent pipelines you perhaps didn’t even realize existed.
3. Court outside perspectives.
Find ways to expand who you’re hearing from to figure out where you can do better. For the chemical company BASF, for instance, that meant using a talent dashboard to ask questions about the company’s diversity and inclusion initiatives while gathering feedback from employees who have different experiences than those at the top.
The beauty of an outside perspective is that there’s no limit to where you can go. For instance, I’ve worked with the Bay Area Council for the past seven years to help foster communication with its counterpart in China. The objective here is to create a cultural exchange that benefits both parties, teaches them new perspectives and provides new insights into different ways of thinking that aren’t necessarily accessible in a typical U.S work environment.
A truly diverse leadership team can guide your organization to new levels of success and outreach by taking advantage of a broad spectrum of perspectives. It’s past time for the nonprofit world to take diversity at the top seriously. Now, hopefully, you know how to take your first steps into a better world.
Forbes Nonprofit Council is an invitation-only organization for chief executives in successful nonprofit organizations. Do I qualify?
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