Archives For Entrepreneurs

Brian Patrick CorkI love Marissa Mayer‘s thinking and strategy around recruiting. I’m becoming a big fan of Mayer. She is clearly establishing herself as a thought leader  and is apparently all about finding great people and empowering their abilities regardless of age or gender. Read more below:

Has Marissa Mayer’s acquire-to-hire strategy for Yahoo paid off? |… - marketplace.org

“Since becoming Yahoo CEO last summer, Marissa Mayer has embarked on a takeover strategy: Buy companies to get their talent. As Yahoo reports earnings, we find out if it worked.”

This article caught my attention because it follows my own philosophy around people, and my views in terms of our collective ability to contribute by season-of-life. There is a satisfying push/pull and ebb-and-flow aspect to it all.

Mayer is also looking for entrepreneurs with raw abilities that can be groomed and honed into terrific assets that will then follow great traditions such as Google and create yet other generations of innovative leadership.

This is better than any university.

I’ll be fascinated to find out if there is a profile or process to all of this that is helping Mayer and her team identify traits and qualities that are valued above others.

nii codjoeAnd, it so happens that the above article finds itself karmically on the heels of an exchange I’ve recently had with the keen to contribute Nii Codjoe:

On Apr 19, 2013, at 7:26 AM, Nii Codjoe <nii@codjoe.com> wrote:

Hi Brian,

Just wanted to thank you again for meeting with me yesterday, and for lunch. I learned tons from you and Victor.

Here’s one takeaway: SME + ROI Argument = RelevanceAnd when you’re relevant, age is irrelevant.

Anyhow, would you be open to reconnecting again next Thursday or Friday?

My response:

Affirmative.

I do agree with you. Relevance trumps age. I can offer many examples from both extremes of the spectrum. We can toss in gender, as well. I feel that would even make for a fascinating exchange.

More later. It’s all really great.

Let’s be part of the Solution.

brian patrick cork

 

 

 

I’m writing today from the perspective of an established business and executive coach, a long-time recruiter, and a proven (definably successful) entrepreneur.

I’ve always held that being bold, fearless and forthright serves the greater good. Certainly within the sphere of my own influence.

Recently a comment I made on Linkedin was “liked” by a fellow that had been referred to me several months back.

“This is a good quote for the day: “You have to wallow in it,” he said. “Take time to get to know people. Understand where they are coming from, what is important to them. Make sure they are with you.” – Jack Welch

So, as I prepared to acknowledge and thank him for the effort I saw that he was describing himself as an “entrepreneurial leader”.

jack welchI found myself “wallowing” in the moment, fully in the spirit of Mr. Welch’s words, and fully prepared to invest myself completely in helping the young fellow.

To be clear, I immediately took exception to this because he was a younger man in his late twenties that had not accomplished anything entrepreneurial in his career. Most of that had been spent in a variable function role and more recently business development for an IT Staffing organization. Recently he had been given charter to roll-out a new line of business, so I was willing to give him a bone around possibly being an “intrapreneur”.

All of this simply led me to thinking I had an opportunity to share with all of you this cautionary tale around transparency. So, just read the exchange and we’ll take it for what it’s all worth.

Start from the bottom, and read your way up…

__________________________ ↓

END (remember… start from the bottom, and work your way up ↑. I KNOW I could reverse it. But, this is more fun. do it!).

“That is all an enthusiastic read. The energy is great.

However, you do yourself an injustice with the entrepreneurial reference on Linkedin. You don’t have the experience or touch-points to back-it-up. If challenged by other parties you will be judged darkly.

I absolutely disagree with your position that your self-definition is not important. While it’s good that you are coming to terms with what you think you want to do, you won’t realize the objective by trying to deflect facts or convince anyone with discernment, otherwise.

What you have accomplished so far is gather experience around a variety of departments and roles through an established business.

An “intrapreneur” is someone with proven entrepreneurial skills and experience that is qualified to be handed resources to spin-up, spin-out, or create a new or different piece of business on behalf of a larger organization. So, you might get some points there. But, I’ll only buy that if you can outline the highlights on your Linkedin profile and resume. If it can stand up to scrutiny, put it online and drive the next phase of your career development through it.

Transparency might be a better route. State that you are seeking entrepreneurial opportunities and experience that leverage your corporately-honed skills.

I was disappointed that you went radio-silent after our meetings. I felt that was a sign of immaturity, and left me feeling you were a bit deceptive. But, you are a likable fellow. Redemption is always at-hand.

Prepare to be forever immortalized on our business Blog (name REDACTED). Yours is an able example.

Best of luck. And, please feel free to keep me in the loop.

- Cork

On 03/01/13 6:19 AM, [REDACTED] wrote:
——————–
Brian,

I love a challenge! Great question and one few people actually ask. More technically correct I would call myself an “intrapreneurial leader” but few people care for or note the significance of that distinction.

Intra or Entre isn’t really the critical question. What’s important is that I have recognized the intersection of what I’m great at and what I enjoy doing. With a somewhat unique career path, I’ve been able to sample numerous roles of increasing responsibility from back office support, front line delivery, and team management all well before I turn 30. In my most recent role I was given the opportunity to start a new business unit, in a completely new market with financial risk/incentive tied to success. Fortunately for me…we’ve found great success.

With success in the Public Sector and a greatly improved relationship with my CEO, I’ve identified my next step. What I’m great at, and truly enjoy, is identifying new opportunities to support our clients and rallying a team to bring those services to market. Hence the “Intra/Entrepreneurial”. At the same time, I have enjoyed building a culture of client centric, results oriented delivery and comradery within the teams we have delivering in DC (deep distinction placed on Leadership vs. Management in this case). Hence the “Leadership”

With the offer I extended this week to bring in a Sr. Business Development lead and an additional recruiter, I am able to hand off some of my current client facing responsibility. I again have the opportunity and responsibility to identify new opportunities to serve the market and spin up capability to support these. More risk, more reward, more team members to work with…exciting times.

- [REDACTED]

On 03/01/13 3:35 AM, Brian Patrick Cork wrote:
——————–
[REDACTED]:

I feel compelled to challenge you…

How is it you feel that you can refer to yourself as an “entrepreneurial leader”?

brian patrick cork”

Start

_______________________ ↑

Let’s be part of the Solution.

brian patrick cork

The COST of Capital

February 28, 2013 — Leave a comment

I found myself surprised when a business coaching client that had read through this entire blog advised me that while broadly I coach and teach around the topic, I had never written specifically about the actual COST of capital.

Well, it turns-out I have in one manner or another (examples, parables, etc). But, I’ve never titled an effort in such basic terms.

Then a terrific example popped-up with a local company that had been referred to us by our banker (I’ll plug Chase Bank and JPMorgan, right here).

In any event, I’m going to play it simple today and just shared an edited email I sent to the referred company’s CEO.

————————- ↓

Begin

“Good morning, (REDACTED).

As I read over your email and pondered your text messages it hit me that I probably can’t be of service to you or (REDACTED).

Over the course of securing an equity investment of $2M your team hit a lot of snags that should have been anticipated and never realized. But, you have said repeatedly that you are new to a lot of  the things you are experiencing. So, that’s learning-curve stuff. You also said you don’t need Coaching (at least from me anyway). So, while that is conflicting, I recognize where I can’t change mind-sets. I don’ take it the least personally. I see this all the time.

The good news is that you and (REDACTED) have secured $2M. So, you are doing some things right. Now with Purchase Orders in-motion I’d expect your business to start getting both traction and validation. So, it will be interesting to see how you align that with a go-forward capital formation and/ or organic revenue generation strategy.

Harvard Business School

The key (or, a key) that you will be judged (thrive, survive or die) by is the COST of capital. For example, how much did that $2M cost (REDACTED), and how will the Cap Table be affected in terms of additional capital raise? If the investor has firmly committed to the entire capital requirement and there is an equity cap, then it’s probably a moot point. In any event, you can do a lot of great work and be left with nothing (or, not much). But, that’s relative. An example is Bob Twitchell and his prior company TeraHop. He did almost everything right there as a technologist, founder, then CEO. He had inspired Intellectual Property (IP) that addressed and solved a greatly evident problem, he built a best-of-class management team, drove a strategy through a properly identified market, and raised a lot of money. But, in the face of making a lot of good practical business decisions that could qualify for a Harvard Business School White Paper he took the wrong type of money from the wrong Venture Capital group (what they saw was value in liquid able IP, not being committed to growth). Almost instantly there was tension and invasive management (including a CFO). The moral to the story is that four years later the Venture Capital decision-makers had forced him out and sold his patents to recover their money. Bob, key employees, and early investors were left to ruin. That is when he found me. Today its a whole different story. I teach everyone I know that, “the worst mistake you can make is the one you repeat”.

But you need to make your own story. And, I want it to be a great one.

I’ll let (REDACTED) know that I’m not involved with (REDACTED), but he is free to do as he see’s fit with you. I am meeting (REDACTED) and several other investors Friday to look at some other options and to prepare for a Regional panel event we are part of in the next quarter. Since your $2M investor wants their own financial guy on your team there won’t be much for (REDACTED) to do anyway. And, I doubt he will want to invest his typical amount under these circumstances (I’ll recuse myself from his decision-making). As you know, I had wanted you to meet another investor that is actively looking to place $250k over lunch last week. But, there are several other good options we can pursue. And, I don’t think you need that $250k right now anyway.

My parting advice is that you keep the aforementioned COST of capital in your head at all times. There is a fine-line between need and want when it comes to raising money. If you build the business right and think in terms of scale and staged investments by milestones, the COST is reduced with the risk. This takes a specific mind-set paired with experience. Maybe (hopefully) that embedded CFO has the right qualities. Time will tell. But, time will also demonstrate whether he has a conflict of interest, or not.

Don’t take any of this other than positive. I’m drawn to your business and and pulling for you, individually. I simply like to focus my energy and resources on projects where I can clearly help and am valued on my terms. So, if you read my blogs and understand my reputation, you know that I focus on “who needs me”. Affirmation and results tend to follow that simple philosophy.

If nothing else this is going to make for a good blog story this week (I’m going to call it aptly, The COST of Capital). So, many people may benefit from your story, just as we hope everyone benefits from the fruit of your business. That could be a really great thing. It’s all about providence.

Please feel free to keep me in the loop.

brian patrick cork
Mobile – + 1 404 451 4799″

End

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Let’s be part of the Solution.

Meanwhile, read the related articles below. Do it!

brian patrick cork

Brad Fallon is a fascinating figure.

He played a role in launching his ex-wife Jennifer Fallon‘s (an Ernst & Young Entrepreneur of the Year) awesome business, Kate Aspen Brands, created Stompernet and has dropped every dime he had into uQast trying to change yet another world. That’s bold, fearless, and entrepreneurial.

Brad reminds me of a Biblical figure from the Old Testament that often finds himself in the desert. His genius is evident and profound. His luck not so much. His promise as a visionary, and possibly thought leader, the greatest. Time will tell.

Brad has retained my services for a number of things over the years that include recruiting, capital formation and coaching. I have surrounded him with great people, funded his efforts and opened doors and worked tirelessly on his heart and mind.

He fascinates and frustrates many of us in business and entrepreneurial circles.

I checked-in with him earlier in the week, and his reply this morning included the following excerpt:

“Anyway, thanks for the email — keep in touch. And here’s a great article on “disruption” that you might like:  http://techcrunch.com/2013/02/16/the-truth-about-disruption/

And an interesting interview with the Innovator’s Dilemma author:  Link

Thanks,

Brad”

disruptive“P.S. I also attached a recent infographic I made.  I thought you’d enjoy it, because uQast stands to “disrupt” both affiliate marketing and online advertising, simultaneously.”

See… Only Brad Fallon would lob a bon mot like that at somebody as an aside.

The concept of recognizing a disruptive concept and making both a go and business out of it is no simple fete.

More on all of that later. He needs help.

Let’s be part of the Solution.

brian patrick cork

From a recent Linked update - Brian Patrick Cork

BIG shout-out to Emily Capps for being a great example. She beat cancer, created a cool business concept (that is unrelated to her experience as a very good copy writer), put her life-savings on the line, gave life to her vision, has attracted investors, and is poised to roll boulders down-hill.

She needs to be exposed to other local superstars that inspire us (my daughters in particular) like Jennifer Fallon and Anisa Telwar.

Briiiiiiiiiiiiiiiiiiiian!

Well, Nancy is still slammed so we haven’t met yet. But that’s fine because I’ve been picking up work AS WELL AS VC FUNDING for the Dorks! Woot?! That’s right my friend. My business plan guy is going to partially back the Kickstarter video for us. Very exciting times.
Best to you!
PS: Gentle reminder re: you mentioned you might want to introduce me to a lady who started her own toy business? Or maybe it was dolls? Hmmmm…
Emily Capps

Let’s be part of the Solution.

brian patrick cork

Related posts:

why Bob Twitchell is a genius and you are not - by brian patrick cork