Tuesday, July 17, 2012

Who Turned Tragedy Into Success

Who Turned Tragedy Into Success
Forget about lemonade: These successful entrepreneurs turned lemons into once-in-a-lifetime opportunities.
Lemonade Lemons 2
Flickr/Christophe Verdier
 
27
Share
It's been said that "when life hands you lemons, make lemonade." That's thinking too small.
A better approach is to turn the lemons into a business plan.
Here are three examples of people who, when hit by personal tragedy, turned it into an opportunity for growth.
Josh Opperman: Broken Promise, Better Price
Opperman came home one day to an empty Manhattan apartment to find his girlfriend gone, with only an engagement ring left behind. Ouch.
As Josh, heartbroken, sat in his home, staring at the ring, he consoled himself with the fact that at least he could return the ring and get his money back. And since the ring cost around $10,000, he anticipated a fair chunk of consolation.
Unfortunately, when he went to the jeweler, he discovered that--despite the fact they could obviously resell the ring for another $10,000--they'd give him only 35% of the purchase price!
Talk about life handing you a lemon.
Opperman realized, however, that his personal disaster was actually an opportunity in disguise.
He founded the website I Do ... Now I Don't, which buys engagement rings from broken relationships and resells them to suitors looking for a good deal. Opperman says he's now making around 1,200 sales a year.
Payman Taei: Using Bed Rest to Launch a Business
In 2000, Taei was in his senior year at University of Maryland studying to be a biologist, anticipating an active life of field research. One day, after going to the doctor about what seemed like a minor complaint, he learned he had Crohn's disease.
As Taei quickly learned, Crohn's can turn life into a living hell. Bedridden and coughing, he was unable to attend classes.  The idea of field work--hiking, camping, gathering specimens--was as unlikely now as a trip to the moon and back.
However, the one good thing about being stuck in bed is that you've got plenty of time on your hands. Taei used that time to fiddle around on a computer and learn about digital art. His work got noticed, and soon he was in demand as a website developer.
Today, Taei is the CEO of HindSite Interactive, one of Maryland's leading design and development firms; in 2011 it was named one of the top U.S. design firms by the International Business Times. He went from a man who was seemingly losing control of his life to become a man who helps entrepreneurs and businesses be successful on the Web.

Want to Succeed

Want to Succeed? Answer These 10 Questions

If you are setting goals for yourself, you should understand whether they are actually attainable. Here's how to gauge your odds.

BigStock Photo
 
133
Share
If you want to achieve a goal, you must first prepare your mind to achieve it.
Here are 10 questions to yourself each time you set a new goal.  If the answer to all of them is "yes," your success is a foregone conclusion:
1. Is my timetable realistic? Big successes usually take longer than small successes, so it makes sense to plan accordingly.
2. Do I have a workable plan? Success is usually achieved one step at a time; a plan reminds you what to do next.
3. Am I truly committed? You must be willing to do whatever it takes, within legal and ethical limits.
4. Am I prepared to be patient?  Comparing your progress against the progress of others is an excellent way to make yourself miserable. Just make sure you are making progress on your own timetable.
5. Am I wasting time frivolously? Taking time to relax is essential. But sitting for hours playing computer games or watching TV? Not so much.
6. Are my friends and family supportive? If you hang with people who are critical or negative, they'll drain your energy and enthusiasm. Choose your company carefully.
7. Is my goal achievable? While stretch goals can motivate you, impossible goals give you an excuse to remain inactive.
8. Am I willing to fail? If your goal is ambitious, you will encounter many setbacks before you finally succeed. Be prepared.
9. Am I honing my skills? If you're not practicing the basics of your craft on a regular basis, you're gradually losing your edge.
10. Am I emotionally ready for success? If you're worried that other people will envy you, you'll probably sabotage yourself.

Monday, July 9, 2012

Howard Schultz grew up in the Brooklyn projects before discovering, and now leading, Starbucks

Howard Schultz grew up in the Brooklyn projects before discovering, and now leading, Starbucks
AP
Schultz grew up in the Bayview projects of Canarsie, Brooklyn. He always wanted to climb "over the fence" and go beyond the lifestyle provided by his truck-driving father. Despite destitution, he excelled at sports and earned a football scholarship to the University of Northern Michigan.
After graduating with a degree in communications, Schultz went to work for Xerox before discovering a small coffee shop called Starbucks. Enamored with the coffee, he left Xerox to become the company's chief executive in 1987. After beginning with 60 shops, Starbucks now has over 16,000 outlets worldwide, giving Schultz a net worth of $1.1 billion. He even went on hiatus and came back as CEO to lead Starbucks out of a decline


Read more: http://www.businessinsider.com/rags-to-riches-stories-2011-11?op=1#ixzz20AMq23kk

Ursula Burns grew up in a housing project on Manhattan's Lower East Side and now runs Xerox

Ursula Burns grew up in a housing project on Manhattan's Lower East Side and now runs Xerox
Before the Lower East Side was cool, it was a hub for gangs. Burns was raised by her single mother in a housing project there. Her mother ran a daycare center out of her home and ironed shirts so that she could afford to send Ursula to Catholic school. She went to NYU, and from there became an intern at Xerox.
She's now Xerox's CEO and chairwoman. She's the first African-American woman to be the head of a Fortune 500 Company.


Read more: http://www.businessinsider.com/rags-to-riches-stories-2011-11?op=1#ixzz20AMhG8rE

John Paul DeJoria lived in his car before John Paul Mitchell Systems took off

John Paul DeJoria lived in his car before John Paul Mitchell Systems took off
John Paul Dejoria with his wife Eloise
Getty Images
As a first generation American, DeJoria had it rough from the beginning. His German and Italian parents divorced when he was two, and he sold Christmas cards and newspapers to help support his family before he turned 10. He was eventually sent to live in a foster home in Los Angeles.
DeJoria spent some time as an L.A. gang member before joining the military. After trying his hand as an employee for Redken Laboratories, he took a $700 dollar loan and created John Paul Mitchell Systems. He hawked the company's shampoo door-to-door, living out of his car while doing so. But the quality of the product could not be denied, and now JPM Systems is worth over $900 million annually. He also created Patron Tequila and has a hand in a variety of industries, from diamonds to music.


Read more: http://www.businessinsider.com/rags-to-riches-stories-2011-11?op=1#ixzz20AMS2EIl

15 Inspirational Rags-To-Riches Stories

 
1/16
   

Guy Laliberté ate fire on the streets before introducing Cirque du Soleil to the world

Guy Laliberté ate fire on the streets before introducing Cirque du Soleil to the world
mission_canadaviaFlickr
The Canadian-born Laliberté began his circus career busking on the streets: playing accordion, walking on stilts and eating fire. He gambled by bringing a successful troupe from Quebec to the Los Angeles Arts Festival in 1987, with no return fare. The bet paid off, and the circus group was eventually brought to Las Vegas, where they became the world famous Cirque du Soleil we know today.
Today, Laliberté is the CEO of Cirque, a professional poker player and space tourist, with a total worth of $2.5 billion


Read more: http://www.businessinsider.com/rags-to-riches-stories-2011-11?op=1#ixzz20AMH9kp5

Friday, July 6, 2012

FINAL HOUSE PAYMENT PAID IN PENNIES

Man makes final house payment in pennies


Apparently all that loose change collecting in the couch cushions pays off: A Massachusetts man who vowed to pay his last mortgage payment in pennies made good on the pledge.
Thirty-five years after purchasing the house, one Thomas Daigle and his wife, Sandra, walked into Milford Federal Savings and Loan Association--after alerting the bank to their plan--with 62,000 pennies in two steel crates weighing approximately 400 pounds apiece.
The twosome had moved into the Milford home, where they still live, in 1977. The last payment was delivered on April 24, the couple's anniversary, which Daigle said was a coincidence.
The penny pincher, who still picks up the coppers on the street, saved 2.5 pennies a day, which he put toward the house payment. The saver raised two daughters and now enjoys four grandchildren, who, he tells, "Pennies add up."

Thursday, July 5, 2012

Aaron Garcia sees himself in the right place, at the right time

Aaron Garcia sees himself in the right place, at the right time

Aaron GarciaMike Stobe/Getty ImagesNew York Dragons quarterback Aaron Garcia's teammates call him Loco Ocho -- Crazy 8 -- for his jersey number and the spirit with which he plays.


In sports, as in life, fame can turn on chance, a lucky break, being in the right place when the stars are perfectly aligned.

Such is the case with Aaron Garcia, the 37-year-old New York Dragons quarterback in the Arena Football League. In a career covering 14 years, Garcia has been one of the most prolific, durable and popular players in league history.

Yet over the years, when Garcia watched an NFL game and saw Alex Smith or David Carr or Rex Grossman throw three interceptions, he couldn't help but think, "What if?"

What if after his freshman year at Washington State University, when he led the PAC-10 in passing efficiency, Dennis Erickson, the coach who recruited him, hadn't bolted for the University of Miami?

What if Erickson hadn't been replaced by Mike Price, who then recruited Drew Bledsoe, a future No. 1 draft pick, sending Garcia first to the bench and then to Sacramento State University, where he finished his college career in relative anonymity?

What if when he finally got his NFL chance, with the San Francisco 49ers, former AFL quarterback Jeff Garcia hadn't already been entrenched as the starting quarterback? Garcia, a fellow Latino, was nearly a clone of Aaron Garcia in his style of play, and apparently one Garcia was enough for 49ers general manager Terry Donahue. So Donahue, a former UCLA coach, signed his former quarterback, Cade McNown, as Jeff Garcia's backup.

Years later, when asked whether the 6-foot-1, 190-pound Aaron Garcia would have made a good NFL quarterback, Erickson, who later coached in the league at Seattle, told a reporter, "His size might have hurt him but so many of the great ones are 6-foot. Given the right chance, he probably would have been a great NFL player."


[+] EnlargeAaron Garcia
Mike Stobe/Getty Images"When you think about your heritage, you think about toughness and hard work," Garcia said. "Those are the things I always tried to aspire to in the way I played."

Garcia vividly remembers the comment.

"On one hand, I appreciated it," he said, "because Coach Erickson is someone that I always respected from the first day I met him. That's why I went to Washington State. But the other thing is, he's telling me something I've always known, so I have mixed emotions. There are times when I'm watching an NFL quarterback struggling to get through the game, and I get bitter to some extent."

Nevertheless, Garcia is not one to sit around and mope or dwell on the past, as his success in the AFL has proved. His stats are stellar -- one of four players to throw more than 800 touchdown passes, and for his career he has a 62.4 percent career completion percentage and a quarterback rating of 116.

"I've been fortunate and blessed to further my career in the Arena Football League, and I've had a good time doing it," he said in a recent telephone interview from his offseason home in Sacramento, Calif.

And, really, for Garcia, as it is with most athletes, it's all about playing the game as long as you can, whether it's sandlot football, the arena league or the NFL.

His father, Hank Garcia, who helped coach his son's team when Aaron starred at Sacramento's Grant High School, recalls a kid who always threw on the sidelines during games -- something he still does.

"He just loved to throw the football," said Hank Garcia, who starred as a three-sport athlete at Grant and earned a baseball scholarship to the University of New Mexico.

The father saw something else in his son that told him he had a bright future in sports.

"He was coachable," he said. "He liked the game, whatever it was, and he had a desire to learn more about it."


[+] EnlargeAaron Garcia
James D. Smith/Getty ImagesGarcia says he'll return next season in the hopes of winning a championship.

At Grant, Aaron Garcia broke all of John Elway's state records and headed off to Washington State assuming he would dominate the Pac-10 and, afterwards, play on Sundays.

The debacle that followed, sending him home to Sacramento, was the first setback he had faced in a life that, to that point, had been clear sailing. Dealing with it was seriously harder than, say, hitting a wide receiver cutting across the middle with a 350-pound lineman bearing down on him.

"A part of me wanted to quit," he said. "I kind of felt like I failed.

He considered getting his degree -- a top priority -- and moving on with his life. But he couldn't see himself not playing the game. He loved it too much.

Also, there was the matter of his considerable family. Hank Garcia's parents emigrated from Mexico -- his wife is of German heritage -- and between them they had 20 siblings. Most of them lived in the Sacramento area, so the cousins network was vast.

They wanted to watch Aaron play.

So he did.

At Sacramento State, Garcia played well but not spectacularly. In the first of many subsequent injuries, he tore up his knee his senior year. Not surprisingly, he wasn't drafted. He took a year off for rehab and then headed to the AFL. Erickson, with whom he had stayed in touch, told him to get a few good seasons under his belt and then take a shot at the NFL, a path followed by Jeff Garcia and, later, Kurt Warner.

In 1995, playing for the Arizona Rattlers, Aaron Garcia led the league in passing. But near the end of the season he broke two bones in his lower back. After more rehab he bounced around the league for a few years before landing with the Iowa Barnstormers in 1998. There he gradually became one of the best players in the league, going from 43 touchdown passes his first year to 104 TDs and a 122.6 rating four years later, when the team moved to New York and became the Dragons.

Garcia has become as notable for the injuries he has endured as his stellar play. Ask him which bones he has broken and he starts from the bottom -- a broken foot -- and works his way up. Both knees have been surgically repaired. In the worst incident, in 2006, he fractured his ankle, his tibia and his fibula. As a result, his right leg, containing two plates and 18 screws, would light up any airport security system. Even Garcia thought he was finished after that injury. But after a few months of rehab he finally was able to outrun his three kids, then aged 4, 5 and 9. One goal accomplished. After that his competitive spirit kicked in and there was little doubt he would suit up in 2007.

Garcia is much admired by his teammates, past and present. They call him Loco Ocho [Crazy 8] for his jersey number and the spirit with which he plays the game.

"I would say the biggest accolade is his leadership through his play," said Dragons coach, Weylan Harding. "When you have a quarterback that is tough it's hard for the other people on the team not to kick in."

Garcia has made a lot of friends in the game. One of them, Mike Perez, played quarterback at San Jose State and later shined in the early days of the AFL. Garcia followed Perez's career, beginning when he was at Grant High, in part because they shared a common ethnicity and because so few Latinos played football.

"When you think about your heritage, you think about toughness and hard work," Garcia said. "Those are the things I always tried to aspire to in the way I played. That's something that Mike did. When I graduated from college I didn't want to play in the AFL. I watched Mike play and saw his success. That helped me get into the league."

Ironically, Garcia ended up breaking Perez's AFL records.

"It was an honor," he said.

"I feel the same," said Perez, who was briefly with the New York Giants but never played. "Aaron is a great player, a tough player, a well-respected player. He could have been playing in the NFL."

Garcia says he'll be back for the 2009 AFL season, pursing the one thing that has eluded him: a championship. This year, the Dragons were one play away from making it to the Arena Bowl with 10 first-year players.

"He'll work like a dog to try and make that happen. I think this will be his best shot," Harding said.

Said Garcia: "You have to be in the right place at the right time. The only thing I can do is continue to work hard and help my teammates do the same."
Retirement isn't yet on his radar. When he does retire, with his leadership skills and passion for sports, he'll likely stay close to the game. And yes, despite all his success, Garcia will always wonder, "What if?"

"The one thing I'll regret is not having that one opportunity to go out there and prove one way or another [that I belong]," he said. "If I went out there and didn't do well, that's fine. You could say I wasn't good enough. But there have been so many scouts and coaches that never gave me that opportunity to even show what I could do."

Inspire Your Workforce: 3 Tips

You want to inspire your employees to greatness? Use these simple tips to increase performance and morale.

 
22
Share

One of the reasons I founded The Trademark Company was to breath a Google-esq air of positivity and creativity into an industry long on tradition but notoriously bad on work-life balance. An industry renowned for its threat culture.
Recalling my experiences from the last big law firm for which I worked, I can still remember one head partner threatening to hang me by my tie until I was "[expletive omitted--it started with an F and ended with an "ing"] dead if I did not win the case." Another partner would notoriously tear my trial strategy down for hours, insult me using derivations of colorful words that would make a gansta rapper blush, and then send me out the door with a "Don't F this up!" And they wonder why they chewed threw lawyers like Dan Snyder chews through head coaches (it's a Redskins reference).
But in my relatively brief time on this planet I am sure of this fact: negativity never inspires people to greatness. But through positive inspiration people can reach beyond what they thought possible and achieve the truly amazing.
Maybe in your business inspiration will not lead you to a world sports title. But it can increase your sales, better the attitude of your workforce, and reduce turnover among other benefits.
So how do you inspire those around you? Candidly, it is not that simple. You must look at it as a critical component of your job just like any other requirement. Here's how:

1.  It's Your Job...Do It

The first component to inspiring others is to realize that doing so is part of your job, it is your responsibility. Like any other employment responsibility, it does not matter if you are having a bad day, you still must get your job done. Troubles at home? So what? Doesn't matter. Leave it at the door and inspire. Hard night out last night? Leave it at the door and inspire. Feeling a little under the weather? Bummed for you. Man up, leave it at the door and inspire.
The first step in inspiring your workforce is the most critical: recognizing that it is part of your job and performing that job irrespective of what else is going on in your life.

2.  Something to Aspire to

No one has ever been inspired to reach mediocrity. People are inspired to reach goals greater than they thought possible. In school we study to achieve the best grades. So in business we must remember this simple norm: people are inspired by a goal or a challenge, something they may not think possible but that you push them to reach.  Without a target, there is nothing to aspire to, nothing to inspire them towards.
So to truly inspire your workforce, you must set goals greater than your workforce thought possible. Setting goals bigger than them, more than they thought possible, establishes a critical component for inspiration: something to aspire to.

3.  Positive Enablement

The power of positivity cannot be understated. Negativity begets negativity. Positivity likewise breeds positivity.
You've heard about my experience with my last big firm. What you have not heard is my experience with my first. In 1996 I was fresh out of law school. I was hired by a small local Washington, D.C. firm to be a trial attorney in a busy mass torts and worker's compensation practice. My bosses were former assistant U.S. Attorneys who, quite simply, knew how to try a case. They taught me everything I know about trial work. Within one year of going to work for them they had me trying my own cases (Thanks Pete and Ken).
But aside from the great training they consistently inspired their attorneys to achieve through positive enforcement. They impressed upon every one of their lawyers a belief that they could win every case and that justice would be done for their client. Before every trial they would always send you off saying something to the effect "You're prepared, you're ready, now go get it done.
For my first firm I tried about 150 solo cases. I can only remember losing about five. For my last firm-the cursing, tie-strangling bunch-I tried three cases, two with those head partners mentioned above, one alone for another partner. So how did we do? Well, in the two cases wherein I played the role of whipping dog we lost. In the one I was allowed to get away from all of the negativity and just do my own thing focusing on positivity and getting the job done-I won. Think positivity can have an impact?
So inspire your workforce every day. It's your job, do it. Set lofty goals to allow them to reach higher than they thoughts possible. Then enable them to get their through positivity.

Prepare for Obamacare: 4 Tips

The entire economy and a vast number of businesses are impacted by Obamacare. Here's my take on how those in the healthcare industry and beyond will be affected.

LaDawna - via Flickr
Supporters of the Affordable Care Act rally in front of the U.S. Supreme Court in Washington, D.C., on March 27, 2012.
3
Share






The honest answer is that no one knows. Seriously.
But during my travels around the country I have discussed the impact of Obamacare with CEOs in healthcare systems, doctors, politicians, insurance companies and every type of imaginable supplier to the healthcare system. There is not a guaranteed outcome any one of them will bet their house on. However, there are a few consistent opinions that make sense.
One caveat: all of these are opinions, though widely held, of business people trying to sort out the business impact of the SCOTUS ruling. These are not policy statements or political opinions.
1. There are going to be more customers.
You may be thinking "duh!" For most of the professionals with whom I have spoken in the healthcare industry, an overall increase of as many as 30 million new customers is going to be business impacting. Most of the players in the industry saw their stock price jump since April and then bigger bumps this week as the ruling came out--service providers especially. These are in part because they just saw their customer's customer base increase dramatically.
2. It's going to take time.
Stocks are bouncing based upon a future improvement, not a change in customer volumes today. This process, its impact at the state and local level, the paperwork and administrative components are all out in the future by months or more. There is a lot of jockeying left to be done. If you are an investor, possibly speculating on the impact to major entrenched players in the marketplace is smart in the stock market. As an entrepreneur, some cautious steps are better advised as the dust settles.
3. Consolidation started more than a year ago.
Just because the volume of customers went up does not mean that the margins will. The pay rates for procedures and services are dropping. To offset those revenue changes, efficiencies are being sought in every possible corner of the business. One of those results is significant consolidation in the hospital systems. This means that there will be winners and losers in the shakeouts in regards to suppliers. The buyers will more than likely standardize practices and suppliers over their entire systems in order to get greater efficiencies.
What to do if you are impacted as a supplier to the healthcare industry that makes up nearly one out of six of our GDP dollars? For entrepreneurs as well as small to mid-size businesses, I would recommend the following:
  • Keep your ear to the ground--The firestorm of rumors and speculation that has been going on for a year is not nearly over. You need to be paying a lot of attention, especially at your customer market level. You need intel and a steady flow of it.
  • Start stalking the winners--The hospital system and large suppliers are consolidating. You need to look at your markets and consider who will be the winners and losers in those transactions relating to your customers. Their wins and losses will be yours.
  • Make new friends--During the shake up, heads will roll. Some of the people with whom you have done business are going to be downsized or reassigned. You need a larger base of contacts to support you if your key contact moves.
  • Wait just a little longer--For your own business initiatives I would advise caution. The biggest players are fighting with their checkbooks right now through consolidation. Unless you can see clear light as to how this will play out for an initiative, I would recommend vigilant observation over headlong plunges.
When an economy the size of the U.S. makes policy decisions affecting every person and over 16% of their GDP, everyone will be impacted. Exactly how will be known years from now. In the short-term, I recommend reconnaissance over attack.