Overdrive : July 2008
This page contains all of the articles for this month's edition of Overdrive.
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The following announcements about upcoming events are open to all EO members. Go beyond local and tap into the resources available to you outside your home chapter!
Current Listings: Event Title: Global Benefits OrientationHost Chapter: EO GlobalDescription: Join Mike Smith, the Global Benefits Director, and other new members on a one hour GlobalCast to learn about the vast array of global benefits you can use now. This combination conference call/webcast will walk you through the benefits and how to use them. Maximize your membership NOW by using the wealth of experience in your fellow members to address your most pressing needs and concernsDate(s): 17 July 2008Contact Information: E-mail Mike Smith at msmith@eonetwork.org.Event Title: 2008 EO University: BostonHost Chapter: EO GlobalDescription: Come join us for the 2008 EO University: Boston, to be held at the luxurious InterContinental Boston. Boston is the capital city of Massachusetts and is the largest city of New England with over 4.5 million people in the metropolitan area. Whether you’re a historian, tourist, sports lover, student or businessmen, Boston has a lot to offer. Date(s): 23-27 July 2008Contact Information: events@eonetwork.org
Event Title: 2008 European/African Regional Conference Host Chapter: EO GlobalDescription: For more than 200 years, St. Petersburg flourished as the cultural and political center of Russia, gaining a reputaion as the 'Venice of the North," despite the inherent weather conditons associated with being the world's largest, northernmost city. See how greatness triumphs in the face of adversity by attending this unforgettable EO event! Date(s): 20-23 August 2008Contact Information: E-mail events@eonetwork.org or visit their official Web site.
As the Founder and CEO of Katana, a document shredding enterprise in Switzerland, I’ve come to know a thing or two about making a technological leap. Three years ago, we were among the first pioneers to install a BlackBerry server in our company. The goal was to keep everyone virtually connected. At the time, the infrastructure was both costly and unheard of throughout our local business community.
At first, I had to fight my board members and partners to adopt the concept of a truly connected staff. I lectured on the business advantages and potential growth opportunities it offered, such as better management practices and a higher client service potential. The board members viewed the BlackBerry as just another gadget, but I argued that it could open up a whole new world of opportunities.
Thankfully, I was right. All of our employees today are equipped with a BlackBerry, and our customers are delighted and amazed by how fast we answer their inquiries. On many occasions, we sign important business deals using our BlackBerrys, while competitors fail to elicit a quick response. We receive instant results because of our BlackBerrys.
The company’s communication flow has become far more efficient, and employees’ schedules are more flexible. They can leave the office earlier, continue to work while commuting and remain in contact with their customers and suppliers, regardless of their location.
I find that BlackBerrys also build team spirit, because using them encourages people to stay connected on a regular basis.
I am definitely addicted to my BlackBerry. I wake up at least once a night to check messages and answer e-mail, whether there is an emergency or not. It has quickly become a habit, and something that is just second nature to me now. It has become a part of my routine, and it gives me satisfaction to know that, at any given moment, I am in control of what’s going on.
As an added benefit, I have more time to spend with my family. I can travel extensively and visit remote places while on vacation, and I don’t have to worry about finding the nearest computer should a work-related emergency pop up.
Though the BlackBerry will soon go the way of the abacus, I’ve come to rely on its existence for the sake of my personal and professional happiness.
In the words of Marshall McLuhan, “We become what we behold. We shape our tools and then our tools shape us."
The tool that will continue to shape me is the BlackBerry.
Eighty-five percent of what we produce is exported. We have clients on every continent except Antarctica. Globally speaking, we’re an extremely small company. So how do we market online when we’re a niche company in a niche industry with limited marketing dollars?
This was the challenge we faced at Street Characters, a company devoted to the designing, manufacturing, training and marketing of mascots and costumed characters. Because we had clients in the National Football League, Major League Baseball and the National Hockey League, we understood that if people knew about us, they would probably do business with us.
But how were we supposed to create brand awareness on a global scale?
Our first attempt was simple: We purchased specific keywords on Google. The response was good, given the large bills we received, but hardly anyone was calling or sending in requests for information through our Web site. What was the problem?
The only thing we could determine was that people—mostly students—were surfing the Internet recreationally and typing “mascots” to see what would come up, but they had no real interest in purchasing a mascot. So our costs were high, and the number of real prospects we generated was insignificant.
I took our concerns to my Forum. One Forum mate, Glenn Fawcett, suggested we update our Web site and “optimize” it. At the time, I was completely unaware of search engine optimization (SEO). Glenn explained to me that when a Web site is optimized, the site is designed to show up at, or near the top of, search results pages. We needed to design a totally new site.
The process started with the optimization team; they identified keyword phrases that described our product. We then selected a large variety of phrases, and “mascots” was one of the most critical keywords. A few years ago, we had purchased the domain name www.mascots.com. We assumed that because we owned this specific domain name, we would be on the first results page once someone searched for “mascots.” Logically, this made sense, but unfortunately, we didn’t even appear in the first three results pages.
This was extremely frustrating. We were told that although we had the correct domain name, our site needed more power. The optimization team said that the best way to boost the power of our Web site was to start a linking campaign. So the experts immediately registered our Web site with a variety of online business directories, and within a few months, we were positioned on the first page of Google for the phrase “mascots”!
Today, our Web site ranks high on Google and other search engines for various phrases. What’s more, visitor traffic has grown steadily since the Web site was optimized. It is hard to imagine how we could have attracted the volume or caliber of customers we now have using traditional marketing strategies, such as advertising and tradeshows. Because we adopted SEO strategies, we put ourselves on the global map.
Last week I had lunch with one of my heroes, Warren Buffett. It never would have happened without EO.
It all started when I met Mohnish Pabrai, a YPOer and successful investment manager. I first met Mohnish at a general meeting in Chicago, Illinois, USA. He was inundated with people who were all trying to meet him. I lucked out. I believe that a key factor in us getting together was my application of the Gestalt Language Protocol, a behavior I learned in Forum.
During our first dinner, I shared my experiences about the topics we discussed. He enjoyed the non-threatening manner in which we talked, and we quickly formed a friendship. Several subsequent meetings resulted. The safety created by Gestalt meant that Mohnish was happy to bring up confidential topics in our meetings, including his wanting to bid on, and win, an auction for a power lunch with Buffett. We worked together to propose a bid that would secure a spot with Buffett, and we won at an asking price of US$650,100 (which went to charity).
An explosion of public interest has occurred since the lunch. People want to know what Buffett was like, what we talked about … all of the delicious details. Much of what went on during the lunch was reported by Time.com. The Web site ran an article on my amazing experience, and it became the most popular article of the day. It seems the public is fascinated by one of the world’s greatest stock market investors, and I can’t disagree. He is one of the most brilliant business minds in the world, and meeting him in person was beyond surreal.
But what’s not being talked about is how much EO factored into this once-in-a-lifetime opportunity. EO played an integral part in us winning lunch with Warren Buffett. Had I not learned the value of Gestalt and applied it in my initial conversation with Mohnish, I would not have met Buffett, one of the richest people on the planet. What’s more, I would not have established a friendship with Mohnish that continues to grow stronger each day.
My eternal thanks goes to EO, my Forum and several key members for teaching me some important lessons, without which the power lunch of my dreams would have never happened.
***
If you’re interested in what occurred during Guy’s lunch, read the article in Time, or e-mail him if you would like additional insight.
Ever since I joined EO in 1999, I have been inspired by members who volunteer their time and energy to their Forum, chapter and the international organization. Taking into account the hectic lives EO-members lead—as business owners, spouses and parents—I am always impressed and inspired by the energy, time and ambition they voluntarily donate to build a great community.
After my stint as board member in my chapter, I wanted to stay active and provide a lasting valuable service to my own entrepreneurial community. Since I joined EO, Forum has been a constant source of inspiration thanks to the wisdom that forms the core of the Forum method. My EO experiences encouraged me to become a Forum trainer. After attending the 2002 Global Leadership Conference in Baltimore, Maryland, USA, I was trained and ready to work. Since then, I have trained about three groups a year.
As a trainer, I often get the feeling that I’m on a pedestal. However, every time I listen to the participants’ remarkable personal and entrepreneurial journeys, I can only be thankful that I get to share with these members the wonderful wisdom we call Forum. Every time a tear is shed, every time I hear about the courage, ingenuity and drive members freely share with their peers, I know that what I give to them is just a fraction of what I receive in return.
Being a Forum trainer has helped me in a lot of ways. Not only has it honed my presentation skills and my ability to answer tough and critical questions eloquently, but it has attributed to the development of the philosopher in me. Moreover, I think Forum makes me more effective in coaching and communicating on a personal level. I’ve even learned to apply the Forum wisdom more naturally in my business and personal life.
Stephen Covey summed up the magic of learning very eloquently in The 8th Habit, his latest book: “You learn best when you teach another,” and by applying this, “every student becomes a teacher and every teacher a student.”
I think the wisdom hidden in the Forum method is so inspiring that I continue to learn new things about myself in every training session. On top of it all, I am always amazed and energized by hearing the stories and business ideas that are shared in the Forum training sessions.
I want to conclude with a simple and heartfelt thank you to this magnificent organization. I am glad I can contribute and be an active part of it. Donating my time to EO keeps me coming back for more— it is too rewarding and inspiring an organization not to stay involved.
To learn how you can get involved in Forum training, click here.
If you think it’s hard to share ethical principles with a business partner, imagine having to share with your family. I know how hard it is to agree with everything your brother or father does in a family business, because I used to be in a family partnership. I was the little one, the runt, always learning the lessons of everyone else’s experiences, until I learned a valuable one of my own.
Everything was going well in our business, and my relationship with my family was normal. But then one day—because of some exigent circumstances I’d rather not describe here; let’s just say it had to do with interpersonal problems—the family business was threatened. Seeking safety, I made the decision to move on from the business and venture down my own entrepreneurial path. Part of my family supported me, while others did not. It was the first time in my life that I felt lost.
While I was excited to embark on a new business adventure, I faced numerous hurdles along the way. I was so used to working with my family that I had to adjust accordingly. Thankfully, I knew I could turn to EO.
In the midst of my journey, I remembered the many benefits that EO offers its members. I was eager for assistance, and I knew that my fellow peers would point me in the right direction. While I embraced Forum and the many benefits it offered, I found myself gravitating more toward Member Exchange (M2Mx). With Member Exchange I could access world-class assistance, and I found myself immediately connected to industry experts.
EO’s networking service helped me considerably. What helped the most was receiving advice from entrepreneurs who experienced similar situations. I knew I wasn’t alone, and that helped me wrap my head around the situation. With plenty of advice in tow, I went independent and started over. Most of my family business’ original clients followed me, which helped a lot; more importantly, the industry recognized my company as one that lives and runs by its values. That’s priceless recognition that has helped me throughout the years.
Today, I am prosperous and happy. Leaving my family’s business was one of the hardest decisions in my life, but it was also the most important event in my life. It has helped me build my character and learn to look toward the future. I’ve learned that there is nothing time won’t heal, and that when you take advantage of EO’s tools and surround yourself with your peers, you’ll be on your way toward personal and professional success.
I discovered that once you have your values set in stone—and you actually live them—it is significantly easier to make important business decisions. Oh, and I’m happy to say that my relationship with my family has been steadily improving.
Learn more about the value of M2Mx, or watch a video that highlights the many benefits of this EO benefit.
Do you remember the first time you pushed the pedal of a bike and felt it move from the effort? Wasn’t it just pure exhilaration? For me, that moment was my first glimpse into the real meaning of the words “freedom” and “accomplishment.” I truly felt that there were few places I couldn’t go. Now imagine giving the sensation of that feeling to someone else! EO Atlanta did just that.
Our chapter has made a commitment to this organization— to support budding entrepreneurs and the community in which we live and do business. During a recent inter-Forum retreat, we decided to participate in a bicycle assembly contest. If you can envision more than 75 entrepreneurs gathered together in one room assembling bicycles that were all identical, you would know that the competition was tough.
Many of the teams finished in record time, while others worked until the buzzer sounded. There was no shortage of comedic relief during the presentations, because each team’s spokesperson skillfully made his or her pitch as to why that team’s bicycle was the best. At the end of the day, there was no grand prize or plaque— just a sense of pride in knowing that the newly assembled bicycles would find a home with a young boy or girl at the Boys and Girls Clubs of metropolitan Atlanta, Georgia, USA.
Our goals behind this initiative was to help create a cherished memory filled with the sensations of accomplishment and freedom for these young children. We wanted to provide a sense of exhilaration for those in need. Knowing the children would take to the streets and sidewalks of Atlanta on their new bicycles made our efforts wholly worthwhile.
As entrepreneurs, we often experience a similar sense of exhilaration as we navigate the daily highs and lows of business. The feeling of accomplishment inspires us to seek new ways to increase and improve our businesses and to pursue new ventures. And while it is a tremendous feat to develop a business and nurture it to long-term growth and financial success, for many of us, there is still a need for something else. There is the desire to say, “I made a difference.”
EO Atlanta member Branden Lisi, whose team won the contest, understands the impact of his actions on the community and within his chapter.
“The bicycle project was an excellent exercise to reinforce a core entrepreneurial skill: creating a flexible, cohesive team that can leverage the key skills of each individual to the maximum benefit of the group. I certainly didn’t go to our meeting with the idea that we would need to design, build and market a bicycle, but the experience reminded me that entrepreneurs are faced with unique challenges, and overcoming those challenges depends on our ability to collaborate and execute as a team rather than as a group of individuals.”
Our inter-Forum exercise reinforced the idea that, together, we can make a difference. I challenge every EO member to consider giving back to the community. The personal benefits of the EO network are tremendous, but collectively we have an opportunity to make a tremendous impact on the world.
On 29 May, EO New York hosted a special event at the Jumeirah Essex House with media mogul Rachael Ray, a two-time Emmy-nominated TV personality. Rachael is best known for her talk show, Rachael Ray, and her Food Network programs.
The event came about when our chapter board learned that Go Green Expo’s Bradford Rand—an EO member—is close friends with Rachael’s husband. It took nearly a year to bring the event to fruition, but it was worth it. Working with Rachael’s handlers, Bradford agreed to hold the event as a moderated discussion. Meanwhile, EO member Herta Kriegner of Uber, Inc., volunteered to handle Day Chair responsibilities and convinced the Jumeirah Essex House to provide its space in exchange for an EO sponsorship.
I started the evening off by acknowledging and rewarding the outgoing board, introducing the incoming board and instilling a sense of pride in our fine organization. Also, former EO NY President Chris Bryant had the honor of announcing Mark Schulze as the EO New York Member of the Year, while Richard Humphrey announced that Larry Zogby had won the EO New York Day Chair of the Year award. Rachael was then introduced to a standing ovation before going on to discuss her meteoric rise to fame, her brand and how she guards it, and her business philosophies.
"My life has been a total accident— a very happy, wonderful accident that I didn't and couldn't have planned," said Ray, author of several bestselling books and the magazine, Every Day with Rachael Ray.
Despite her growing celebrity, Ray is determined to stay grounded and hold on to her down-to-earth values. Recognizing that a person cannot be all things to all people, Rachael urged each attendee to be true to themselves when running their companies.
“I think the entrepreneurial spirit is all about vision. You have to be able to envision your goal, and you have to love your customer, love what you do. I think it’s important to not try and be all things to all people,” said Ray. “You have to know what you do and focus on that one thing, and don’t try to be too much or too many different things.”
Rachael, who, in 2006 was named one of Time’s 100 Most Influential People, went on to discuss the importance of appreciating hard work, being open to life's opportunities and trusting your instinct.
"I was raised to always appreciate any job I had, and to be very devoted to my customer. [To be successful] I think you have to be humble, you have to be hardworking. You have to keep in mind that opportunities are there for all of us. Also, you have to keep your mind open about what your next step can be, and you have to go with your gut."
Following the discussion, Rachael auctioned off VIP tickets to her show, which resulted in EO New York raising US$17,500 for her charity called Yum-O! Yum-O! empowers kids to develop healthy eating and cooking habits, and it also feeds hungry kids.
The evening ended with Rachael donning a teal EO T-shirt in support of EO’s TEAL theme for FY2008/2009. Teal was an appropriate color since EOtv recorded an interview with her (Technology), the event garnered significant media attention (External Awareness) and Rachael discussed her philosophies for running a mega-empire (Leadership).
The member reaction was overwhelmingly positive. We all felt special to have this unique and intimate opportunity to interact with and learn from such a huge celebrity. It is this type of experience that makes me happy to be an EO member. This is what EO is all about.
Rachael wrote about the event in her blog. Read what she had to say about her first EO experience.
My Irish Gran taught me how to make jam using her beloved recipes when I was 14 years old. I perfected the craft in no time. Eager to earn a profit, I sold the homemade products to neighbours and people at church fairs, farmers’ markets and local delicatessens. When I discovered that my product was in high demand, I decided to improve the products. I came up with an idea to make my jam entirely out of fruit and fruit juice.
Thus, SuperJam was born.
Little did I expect that within a couple of years, this tiny enterprise would blossom into a million-dollar company that would supply the biggest supermarkets in Great Britain. What started out as an idea grew into a successful business! Before I knew it, I found myself on a whirlwind of media interviews all around the world.
Most exciting for me, though, was a chance to represent my country at the EO Global Student Entrepreneur Awards (GSEA) in Chicago, Illinois, USA. GSEA is an awards program that honours the top undergraduate students who are running their own businesses. I was told that more than 750+ students from around the world had entered the competition, and that I was considered to be among the top 20. I was given 15 minutes to present my company to the expert judges, all of whom were running hugely successful enterprises themselves.
Before it was my time to present, I watched other students pitch their companies. Several ran software businesses that supplied huge, multinational corporations like McDonalds; some owned the fastest-growing companies in Canada and others had reached the pinnacle of excellence in their respective fields. Although selling jam was perhaps the lowest tech of all of the business ideas, I certainly felt honoured to be considered in the same realm as these bright kids.
When it was my time to present, I shared the past four years of my life with the judges. The judges were clearly excited by my adventure and enjoyed asking questions about my finances, business ethics and what I was doing to protect my ideas. Later in the day, the winners were announced, and it came as such a huge surprise! Out of all of the young entrepreneurs, the judges gave me the title of “EO Global Student Entrepreneur of the Year.”
Winning the competition was certainly one of the high points of this amazing adventure. Since I was the first non-American winner of the competition, I encountered spells of media attention. Not only was the British press very proud of my story, but I found myself in the global news, including the biggest news station in China! I was even featured in the Wall Street Journal and Forbes magazine, all thanks to EO.
While the press coverage was a major perk, simply meeting all of the other entrepreneurs and EO members was by far the real prize. As a young entrepreneur, it is rare that I come across other young people who have experienced similar business situations. Meeting these diverse entrepreneurs, learning more about what makes EO so special, making new friends and sharing experiences has made me even more certain that the path I have chosen in life is the right one.
Learn how you can support or judge the 2008 EO Global Student Entrepreneur Awards.