tag:blogger.com,1999:blog-2187564729128852392024-03-13T10:09:53.098-07:00Biz SnippetsTINY BITS OF INSIGHT FOR BUSINESS AND LEADERSHIPJulien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-218756472912885239.post-82690361230200864312013-08-14T05:39:00.001-07:002013-08-15T05:00:33.936-07:00The Psychological Contract and its Impact on the Organization<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/-AtASGSSHymg/Ugt6TbAOJbI/AAAAAAAAAJ8/eFAzRD1oEt4/s1600/handshake.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="274" src="http://4.bp.blogspot.com/-AtASGSSHymg/Ugt6TbAOJbI/AAAAAAAAAJ8/eFAzRD1oEt4/s640/handshake.jpg" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">image courtesy of mikkeco via sxc.hu</td></tr>
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The psychological contract is a complex, and often vague, set of beliefs, obligations, and mutual expectations between an employer and employee. This concept was first developed by Denise Rousseau, an organizational scholar and professor at Carnegie Mellon University. It is vastly different from the formal written employment contract, which typically states only the salary, allowances, benefits, and leaves an employee will receive in exchange for performing a defined set of duties and responsibilities. <br />
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What does it mean?</h4>
Before an employee is hired, an interview process takes place to determine whether a particular person is qualified for a certain position within the company. During the session, the interviewer may mention career development options like training or any other additional benefits, which may not appear on the final written contract. At this stage, the employee will take a leap of faith, thinking that even if it is not written, the company will fulfill the things they mentioned as long as the employee performs his/her job well.<br />
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Why is it important? </h4>
What happened during the interview process is that the employer has created an expectation in the employee, whether advertently or inadvertently. When these expectations are not met, it will create a negative impact on the employee, which will directly affect the productivity and loyalty to the company. An employee will feel cheated and will become disengaged from his/her work, which often manifests as low morale, absenteeism, or witholding effort.<i> It has been estimated that employee disengagement accounts for approximately $350 billion a year in lost productivity (Gallup Business Journal).</i><br />
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How can this be avoided?</h4>
The psychological contract is an integral component between the relationship of an employer and employee, and is sometimes a stronger force than the formal writtten contract. It will be there whether an employer likes it or not, but a smart employer will know how to harness its power and its influence among the workforce.<br />
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To avoid the ill effects of a broken psychological contract and prevent employee disengagement, a smart employer should do the following:<br />
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1. Clarity <br />
Always be clear about what you or your company representative says. Words are powerful and you may not always be aware how much they affect other people.<br />
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2. Integrity<br />
When you have said something, do your best to follow through. Sometimes it may not be easy, but the cost of an unfulfilled promise or obligation to an employee may be bigger than you know.<br />
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3. Open and honest communication<br />
As soon as you detect signs of employee disengagement, put your best effort to find its cause and initiate honest action to solve it. Do NOT just placate your employees. Do what it takes to correct the situation.<br />
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Have you experienced this? What other ways can you suggest to avoid this?<br />
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<br />Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com1tag:blogger.com,1999:blog-218756472912885239.post-10793336268134868672013-05-04T20:26:00.000-07:002013-05-04T20:26:21.095-07:00Leader Profile: Bill Hewlett and David Packard
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Bill Hewlett and David Packard are, in my opinion, what every business leader ought to be. Both having experienced the Great Depression, they saw first hand the effects it had on people. This probably gave them insight on how to build a successful company based on solid values, one that respects employee rights above profits.</div>
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<i><span style="color: #a64d79; font-size: large;">"Set out to build a company and make a contribution, not an empire and a fortune"</span></i></div>
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<i><span style="color: #a64d79; font-size: large;">"The best possible company management is one that combines a sense of corporate greatness and destiny, with empathy for, and fidelity to, the average employee."</span></i></div>
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<i><span style="color: #a64d79; font-size: large;">"A company has a responsibility beyond making a profit for stockholders; it has a responsibility to recognise the dignity of its employees as human beings, to the well-being of its customers, and to the community at large."</span></i></div>
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Their management philosophy emerged at a time when the concept was totally alien to the business world. David Packard himself said that he was almost laughed out of the room when he proposed this in a conference among business leaders in the 1940s. But they remained courageous in promoting their company culture. This concern for the employee, however, was counterbalanced by their demand for performance - they took care of their employees but they required their employees to do their best. This exemplifies the Level 5 Leadership proposed by Jim Collins in his book Good to Great - humility combined with professional will.</div>
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They were probably the humblest leaders the corporate world has ever seen. They were great innovators who started out with $500 in capital and eventually grew their company into one of the biggest technology firms today, yet for all of that, they remained astonishingly humble. David Packard continued to live in a modest house, made contributions to Stanford University and refused to have buildings named after him. Bill Hewlett, then CEO of HP, entertained a call from a twelve-year old Steve Jobs, who was asking for parts for a project he was working on. The next day, Steve picked up a package of parts prepared by Bill Hewlett himself.</div>
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The story of Bill Hewlett and David Packard remains a refreshing counterpoint to today's age of profits and corporate greed, and one that should be internalized and embodied by the business leaders of today.</div>
Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-16883420680113671422013-04-18T05:18:00.000-07:002013-04-22T23:09:33.241-07:00A Look at Motivation<div style="text-align: justify;">
One of my favorite authors is Dan Ariely, a behavioral economist who investigates human behaviors and how these influence our decision-making process. In this TED Talk, he investigates what motivates people to work.</div>
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<iframe allowfullscreen="" frameborder="0" height="400" mozallowfullscreen="" scrolling="no" src="http://embed.ted.com/talks/dan_ariely_what_makes_us_feel_good_about_our_work.html" webkitallowfullscreen="" width="600"></iframe>Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-49232422294506545002013-04-15T05:10:00.001-07:002013-04-15T05:20:33.159-07:00Different Personality Types<div style="text-align: justify;">
Personal development starts with a healthy dose of self understanding. Knowing your personality can help you make crucial decisions regarding your career development path and will help you accept your strengths and weaknesses as an individual.</div>
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Probably the most widely-used personality assessment tool is the Myers-Briggs Type Indicator, which is based on Carl Jung's theories.</div>
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<a href="http://www.scribd.com/doc/133775941/personality-what-type-are-you" style="text-decoration: underline;" title="View Personality What Type Are You on Scribd">Personality What Type Are You</a> by <a href="http://www.scribd.com/RedBlotMedia" style="text-decoration: underline;" title="View RedBlotMedia's profile on Scribd">RedBlotMedia</a></div>
<iframe class="scribd_iframe_embed" data-aspect-ratio="1.33087149187592" data-auto-height="false" frameborder="0" height="600" id="doc_20154" scrolling="no" src="http://www.scribd.com/embeds/133775941/content?start_page=1&view_mode=scroll&access_key=key-mh5ssbj2ruzoynt2osy" width="100%"></iframe>Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-84977984799413256612013-04-10T06:38:00.000-07:002013-04-15T05:20:57.800-07:00Finding Your Purpose, Again<div style="text-align: justify;">
I received a comment regarding my previous post on finding one's purpose saying that for most people, it would be hard and would take a conscious effort. I agree. The reality is that most of us <b>need</b> to work for money. We need it to survive. But finding one's purpose does not require us to take a drastic action such as quitting our jobs. The first thing we can do is change our mindset.</div>
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For example, if you are working as a cashier, think of your job as making other people's day instead of merely operating the cash register. This may not make you rich, but the difference you make in each person's day will make you feel better about your job. Sometimes, the act of helping is a reward in itself, and making people just a bit happier in little ways can be a great start in injecting purpose in our careers.</div>
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And there is a scientific basis that helping other people is one of the ways to be happier.</div>
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A study in 2008 at the University of British Columbia found out that people who spent their money on others achieved a higher level of happiness. This somehow proves that when you are working for a cause higher than yourself, you will get a greater sense of fulfillment, which in turn, contributes to your happiness. </div>
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Here are some examples of people I admire who have found their purpose.</div>
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PS: Vincent Nguyen from SelfStairway wrote a great post about spreading happiness. You can <a href="http://%20www.selfstairway.com/spread-happiness/">read it here</a>.Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-6804347200785225092013-04-08T02:15:00.001-07:002013-04-15T05:21:36.848-07:00Finding Your Purpose<div class="separator" style="clear: both; text-align: center;">
<a href="http://1.bp.blogspot.com/-OfefkbS-6uA/UWJSgihMUuI/AAAAAAAAAHY/LGobRAMNSnc/s1600/Purpose.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="480" src="http://1.bp.blogspot.com/-OfefkbS-6uA/UWJSgihMUuI/AAAAAAAAAHY/LGobRAMNSnc/s640/Purpose.jpg" width="640" /></a></div>
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Dream jobs. Everybody wants one. Yet how many do you think have it? For most of us, the feeling of being trapped in our current jobs is a sad reality. We are relegated to dreaming that one day, we would land that perfect job and be happy at last. But maybe, the things we yearn for - promotions, perks, more money, are not really the ones that would make us happy and give our life meaning.</div>
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<span style="text-align: justify;">In 1943, a psychologist by the name of Abraham Maslow published a paper entitled "A Theory of Human Motivation". He proposed a theory that the needs of human beings were arranged in a hierarchy (Maslow's Hierarchy of Needs). The most basic needs, found at the bottom of the pyramid, are physiological needs such as air, food, water,and sleep. Above that are security needs - employment, resources, health, and property. One level below the peak of the pyramid lies self-esteem and respect from others. The highest need are self-actualization needs - morality, creativity, problem-solving, and acceptance.</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><i><span style="font-size: xx-small;">By J. Finkelstein (I created this work using Inkscape.) [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/)], via Wikimedia Commons</span></i></td></tr>
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What does this mean?</div>
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Most people work for money. But this, I believe, does not reflect our highest calling. We have heard the occasional tales of people who have struck it rich yet lead empty lives. All of us look for meaning in our lives. And to be stuck in jobs which do not allow us to attain self-actualization, our highest potential, somehow diminishes who we are. And this is something all of us should think about. Seriously.</div>
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How about you? Have you found your purpose?</div>
Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com2tag:blogger.com,1999:blog-218756472912885239.post-30910819002054875352013-04-05T17:06:00.001-07:002013-04-05T23:27:50.635-07:00Arrogance in the Workplace<br />
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<span style="font-size: xx-small;">image courtesy of Col6085 @ sxc.hu</span></div>
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<span style="text-align: justify;">Arrogance is a common problem in most workplaces, yet nothing seems to be being done about it. Everybody knows how an encounter with arrogance feels like, and it gets much worse if the arrogant individual is your boss or any other person in a position of authority. And if you occupy a low rung on the corporate ladder, your options are very limited. Most people in this position would opt to 'grin and bear it', since voicing your opinion may result in a backlash from the arrogant superior. </span><span style="text-align: justify;">However, this means that you will have to endure the same treatment over and over again. Talk about being caught between a rock and a hard place. </span></div>
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Oftentimes, people mistakenly confuse arrogance with confidence. Here's how to tell the difference between the two:</div>
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<b><span style="font-size: large;">Confidence is based on reality, while arrogance is based only on self-perception.</span></b></div>
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Confidence is simply an expression of a belief of ability based on reality. If you state that you are capable and have real-life results to prove it, then you are merely displaying confidence. Arrogance, on the other hand, tends to inflate one's capability without any demonstrable evidence of ability.</div>
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<b><span style="font-size: large;">Confidence welcomes feedback; arrogance rejects it.</span></b></div>
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Confident people are not threatened by feedback from other people. They listen to what others say and they know how to self-analyze whether the feedback is valid or not. Arrogant people cannot bear to hear negative comments, and they usually treat these comments as personal attacks.</div>
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<b><span style="font-size: large;">Confidence encourages learning; arrogance doesn't even acknowledge it needs it.</span></b></div>
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Confident people are brave enough to admit that they do not know everything. Arrogant people, on the other hand, always try to assume that they know everything.</div>
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<b><span style="font-size: large;">Confidence inspires; arrogance demeans.</span></b></div>
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Confident people have the ability to inspire other people to develop themselves by offering encouragement and advice. Arrogant people make themselves feel important by putting down other people or their ideas.</div>
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<span style="font-size: large;">Here is a snapshot of an arrogant individual:</span></div>
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1. Disparages other people or their ideas</div>
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2. Always claims to be more knowledgeable or superior to others</div>
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3. Avoids taking blame and/or pinning the blame on someone else</div>
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4. Avoids feedback like the plague</div>
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Basically, arrogance is a set of behaviors designed to cope with feelings of low self-confidence. It is a smokescreen to hide poor performance and a lack of competence. Arrogant people inflate their self-importance and ability in order to make others feel inferior.</div>
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Arrogance tends to cause stress and tension in the workplace, resulting in loss of morale for some employees and decreased productivity. Everyone agrees that this is bad for business. However, it is very difficult for managers in the organization to detect arrogance in the workplace because arrogant people can revise their behavior in the presence of superiors. They only exhibit these behaviors when they are with peers or subordinates. </div>
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In 2012, psychologists from The University of Akron and the University of Michigan developed a tool to detect arrogance called Workplace Arrogance Scale (WARS). It is a set of 26 questions answered by the one being assessed and the people assessing him/her. The research team, led by Stanley Silverman, devised the questions in such a way that people do not know they are judging a socially undesirable trait, thus eliminating bias. Hopefully, WARS will become a standard addition to employee performance evaluations in the near future.</div>
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If you have something important to share about the subject of arrogance, please add your comment below. Thanks!</div>
Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-19856900664256932522013-04-03T20:10:00.000-07:002013-04-05T18:34:14.773-07:00Presenting With Passion<div style="text-align: justify;">
Public speaking is one essential tool in your arsenal to grow your business and increase your reach to as many people as you can. A well-written and well-delivered speech or presentation can boost your market value either as an employee or an entrepreneur. Yet so many people are afraid of it that they neglect the opportunities it can bring. Here are some easy to follow tips to make a compelling and memorable presentation.</div>
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<iframe allowfullscreen="" frameborder="0" height="400" marginheight="0" marginwidth="0" mozallowfullscreen="" scrolling="no" src="http://www.slideshare.net/slideshow/embed_code/17992047" style="border-width: 1px 1px 0; border: 1px solid #CCC; margin-bottom: 5px;" webkitallowfullscreen="" width="600"> </iframe> <br />
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<strong> <a href="http://www.slideshare.net/RedBlotMedia/presenting-with-passion" target="_blank" title="Presenting with Passion">Presenting with Passion</a> </strong> from <strong><a href="http://www.slideshare.net/RedBlotMedia" target="_blank">RedBlot Media</a></strong> </div>
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How about you? What advice can you give to make a great presentation?</div>
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(You can download the presentation at Slideshare and use it. Please consider attributing it to BizSnippets or RedBlot Media. Thanks!)</div>
Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-36174429248140387622013-04-01T00:04:00.001-07:002013-04-05T18:34:48.935-07:00Don't Be A Sea Squirt<br />
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I was watching a video from TED Talks the other day and I particularly remembered a funny joke the speaker made. Daniel Wolpert, a neuroscientist, mentioned that a sea squirt spends its early life as a free-swimming form. It swims around, looking for a rock it could attach itself to. As soon as it does that, what do you think is the first thing it does?</div>
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<span style="font-size: large;">It digests its brain!</span></div>
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The thing that made me laugh was that he likened this phenomenon to university professors getting their tenure.</div>
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You may ask what this has to do with business. The answer is: everything!</div>
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In business, whether you are the owner, the manager, or an employee, it is vital to never stop learning. As organizations grow bigger, there is a tendency to be complacent as soon as profits come in and a routine is established. Processes that work are set in stone since this decreases the effort required to accomplish a company objective. Not much thinking is required. However, this could lead to stagnation and downplay the need for innovation. After all, if something works, why fix it?</div>
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Pretty soon, you have to accept the fact that others will learn to do something better than you. In order to stay competitive and maintain that edge, learning should be an important part of your company culture. Without learning, there could be no innovation. And without innovation, improvement may slow to a standstill.</div>
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The resources I generally go to are <a href="http://800ceoread.com/" x-apple-data-detectors-result="0" x-apple-data-detectors="true">800ceoread.com</a> and <a href="http://knowledge-blocks.com/" x-apple-data-detectors-result="1" x-apple-data-detectors="true">knowledge-blocks.com</a>. They have listings of the latest business books and discussion forums to help you gain more business knowledge. (These are not affiliate links so I will not get something out of it; I just want to share=)</div>
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The human mind is always a work in progress. Treat your business the same way. Never stop using your brain! Never be a sea squirt!</div>
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Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-13860668840050579782013-03-29T08:09:00.000-07:002013-04-05T18:35:18.231-07:00Why Constraints are a Necessary Part of Innovation<div class="separator" style="clear: both; text-align: center;">
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The word constraint carries a negative connotation. Think of the many implications this word has: limits, things that hold you back, boundaries, boxing in, preventing, restraining, and so on. Any person would think that constraint is something that would hinder innovation.</div>
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<span style="font-size: large;">But applied correctly, constraints can sometimes be the force behind innovation. </span></div>
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For example, I am an entrepreneur with a new startup. I instruct my team to design a computer that will blow all the others out of the water. Some would submit a design containing all the latest, but expensive, technology. Others would probably produce a design which is big and heavy because it has everything a user might need. Chances are, the designs produced would be inappropriate for a market that values low cost and portability.</div>
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But say for example I added a constraint. I say: "Build me a powerful computer which is cheap and portable." This would force my designers to work within a confined set of rules, forcing them to think of new ways to achieve the objective. Compared to the first scenario, more creative thinking was applied when the designers were boxed in by the addition of a constraint.</div>
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Constraints in one area can also lead to innovation in other areas and other teams. Take for example the development of the tablet. In order to make a computer which can be held in one hand, designers were forced to limit and even cut off some features a traditional computer has. This meant less storage, no USB ports, no external drives and the like.</div>
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Because of this limitation, cloud storage providers like Dropbox and Box came in to fill the gap.</div>
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Constraints and innovation do not only apply to technology. You can encounter constraints in your career, business, or personal lives. Instead of thinking of these as negative, we should acknowledge them as necessary and use our creativity to work within them.</div>
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<br />Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-72586502619918364612013-03-27T19:11:00.001-07:002013-04-05T18:36:00.444-07:00Taking the Long View in Entrepreneurship<div class="separator" style="clear: both; text-align: center;">
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In this day and age, it's hard not to get caught up in the heady images the words "startup", "entrepreneur", and "innovation" conjure in our minds. We all dream (or at least most of us do) of being the guy to create the next Facebook and we will be set for life. <!---more---> Most of us believe that the only requirement to be a successful entrepreneur is one great idea, without considering long and hard the work it takes to turn that idea into a success.</div>
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In a research by the University of Tennessee, only 58% of startups were still operating after four years. The failure rate at Year 1, Year 2, and Year 3 were 25%, 36%, and 44%, respectively. There were a lot of reasons for failure stated in the study, but the major causes were:</div>
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<b><span style="font-size: large;">Incompetence</span></b></div>
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Learning, whether in business or other endeavors, is important. You already invested much time and effort to launch your business, so why not take the extra time to know more about the business you are in? The more we know, the more possibilities open up, enabling us to apply creative solutions to problems that may arise.</div>
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<b><span style="font-size: large;">Going into business for the wrong reasons</span></b></div>
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Fame and fortune are usually not good reasons to go into a business. Consider Bill Hewlett, the co-founder of Hewlett-Packard, who stated: "As I look back on my life's work, I'm probably most proud of having helped create a company that by virtue of its values, practices, and success has had a great impact on the way companies are managed around the world." </div>
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Did you hear him say "money"? </div>
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Let's face it, money is important. But it should not be our guiding principle when starting a business. Instead we should base our business on our passion and purpose, because these factors will sustain us in the long haul.</div>
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<b><span style="font-size: large;">Entrepreneur gets worn out and/or underestimated the time requirements</span></b></div>
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Most aspiring entrepreneurs are not prepared to face the reality that starting a business is even harder work than being an employee. They mistakenly assume that a great idea will take care of itself and all they have to do is reap the rewards for having thought of the idea in the first place. Entrepreneurship ship is not a get-rich-quick scheme.</div>
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<b><span style="font-size: large;">The entrepreneur falls in love with the product/business</span></b></div>
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Dan Ariely, a psychologist and behavioral economist at Duke University, conducted a study which found that we tend to overvalue the things we make. He found out that an investment in time and effort gives us a sense of ownership, leading us to value it more than others. While this is generally beneficial, we should not fall into the trap that other people will value our product/business the same way we do. Our job then is to "sell" our idea to as many people and listen to what they have to say.</div>
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Can anybody succeed as an entrepreneur? The answer is yes, as long as we go into it knowing what is in store and what it requires from us, keeping in mind that there is no such thing as an overnight success.</div>
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Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-13702925183320051062013-03-20T00:55:00.001-07:002013-03-28T17:15:36.138-07:00Why Passion Matters<div class="separator" style="clear: both; text-align: center;">
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Nowadays, passion has become an essential element being recognized in the pursuit of motivation, fulfillment, and business excellence. A number of books have been written about it. But what does it do? Here's a brief tribute to passion and her notable examples.</div>
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<br />Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-39066325358147869682013-03-12T01:47:00.000-07:002013-03-28T17:16:49.638-07:00The Birth of the Extrovert Ideal<div style="text-align: justify;">
Susan Cain's book, Quiet: The Power of Introverts in a World That Can't Stop Talking, explores the differences between introverts and extroverts and how the extrovert ideal came to be the dominant force in education, business, and life in general. Seeing as how the majority of people admire and revere leaders who are gregarious, outgoing, and charismatic, this book presents a well-written view on the contributions introverts have made in society.</div>
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The video below shows the rise of the Extrovert Ideal.<br />
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Though I do agree that communication, whether verbal or otherwise, is integral part in any human undertaking, we do have the responsibility to discern whether something is said for the purpose of creating value or merely the illusion of creating value.</div>
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Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0tag:blogger.com,1999:blog-218756472912885239.post-90789389533382842442013-01-02T19:35:00.000-08:002013-03-28T17:17:02.660-07:00Qualities of a Great Company<div style="text-align: justify;">
The book "Awesomely Simple" by John Spence summarizes the qualities that every business should embrace in order to become a great company. Whether you are employed by a big company or struggling to launch your own brand, these insights can be very helpful in creating value for both you and your customers.<br />
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After watching this video, let me know what you think.Julien Davidhttp://www.blogger.com/profile/04414482565201920515noreply@blogger.com0