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Archive for the ‘RE:THINK the Economy’ Category

Innovation Doesn’t Take a Vacation in an Economic Downturn

Posted by Raz Chorev On January - 23 - 2009 ADD COMMENTS
By the end of 2008, Venture Capital had been officially declared dead. Startups were laying people off so fast that even TechCrunch couldn’t manage to keep up. University Endowments and Foundations, the source of the “capital” in Venture Capital, were hemorrhaging so badly from their public company investments that many long-time believers in “alternative assets” declared a moratorium on Venture Capital. And the IPO market was a distant memory. Good times!

Welcome 2009. The public markets remain closed. Venture investors and the investors in venture investors remain “challenged.” Follow on financings have become increasingly difficult, in some instances impossible. And, while there may well be light at the end of the tunnel, it would appear that we haven’t gotten far enough down the tunnel yet to see that light.

So why am I optimistic about investing in 2009? Because entrepreneurship is an addiction, it isn’t a choice. Great entrepreneurs aren’t driven to create companies because it is easy, or because capital is plentiful, or because the public markets are swallowing anything the venture community will throw at them. Great entrepreneurs start companies because they can’t help themselves. They see a problem or a solution or white space or an opportunity and they have to do something about it.

Innovation doesn’t take a vacation during an economic downturn. Innovation is a constant. While the resources an entrepreneur may be able to bring to bear on a problem may vary with the economic climate, the desire — the need — to innovate never goes away. And Venture Capital is the fuel of that innovation. [1]

So I remain excited about the companies that will be started in 2009. There will be great companies started during this economic crisis. Some of them will be born out of the crisis itself. Others will simply be born during the crisis. But, rest assured, there will be important tech companies hatched in the next year or two. And I am certainly hoping to fund them.
[1] Some of you reading this will say to yourselves “starting companies today is so inexpensive that we don’t need no stinkin’ VCs.” More power to you. I don’t mean to suggest that innovation will die without Venture Capital. There are many great ideas that can come to fruition without a meaningfully-large capital infusion. My hat is off to the 37 Signals and Smugmugs of this world. But for those ideas that require investment ahead of revenue to reach their full potential, Venture Capital remains an important resource for company building.

By David Hornik on January 21, 2009

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Something for the kiddies???

Posted by Raz Chorev On January - 12 - 2009 2 COMMENTS
Toy Story (1995) was the first fully computer-...
Image via Wikipedia

for the last 12 years or so (whenever the first Toy Story came to our screens), I’ve been fascinated by the whole genre of computer animated movies. The clever people writing the scripts, are using cliches that in a regular movie, will likely to sound like ones, however because the characters are animated, and the movie is targeting young children, these cliches are OK.

Funny, isn’t it? We are trying to convey this subliminal message to our kids, which we, as “adults” have long forgotten, or (unfortunately for us) don’t really live by. How sad!

In this short clip, Rodney is leaving his dead-end existence, in pursuit of his dream. Like in any “normal family”, the mother can’t let go….
The DAD, grabs the opportunity to teach his son the lesson from his own pitiful existence.

For most of us, it is not too late…
Lets learn from Rodney!


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Have you been Googled?

Posted by Raz Chorev On December - 30 - 2008 1 COMMENT

One of the greatest tools of communication, growing widely in the past 5 years or so, is a part of the internet called: Social Networking.

Social Networking is a social network service focuses on building online communities of people who share interests and/or activities, or who are interested in exploring the interests and activities of others. Most social network services are web based and provide a variety of ways for users to interact, such as e-mail and instant messaging services.

Social networking has created new ways to communicate and share information. Social networking

websites are being used regularly by millions of people, and it now seems that social networking will be an enduring part of everyday life. The main types of social networking services are those which contain directories of some categories (such as former classmates), means to connect with friends (usually with self-description pages), and recommended systems linked to trust. Popular methods now combine many of these, with MySpace and Facebook being the most widely used.

from Wikipedia

There are a lot of social networking sites, and even more Business Networking sites, bringing together professional communities, to share ideas, concepts and other relevant information.

Business networks been around for many years, such as BNI and Chambers of Commerce, however the online networks are very powerful in bringing together professionals from around the globe, to connect and share information. It is truly - a Global Village!

Recent statistic have shown, that 83% of recruiters used search engines to learn more about

candidates in 2007, up from 75% in 2005, according to Execunet.com.
43% eliminated candidates based on the search results.

What does it mean? I think it is quite simple - if people want to know more about you, they’ll look you up on Google!
it could be your future employer (in my case it was my ex-employer who suspected I was involved in “extra curriculum” activities), or your future (or existing) spouse, or their family!!

The more information people find online, the better!

why?

In most cases, you can control what people find about you. and you can do that by joining Social and/ or business network, and expose the parts of your life you want people to find out about. In the “Glitz and Glamor” world they use a spotlight, or an angle to showcase what they want you to see.

OK, so what do I do? where to start?

Good question!

  1. Start by deciding who you are, and what is it that you do, and you want people to know about:

If you are a small business owner, you might want to get people’s attention to your business, to create business opportunities for your self.
If you are passionate about bird migration routes, you may want to talk to other people who share your passion, and maybe one day go meet them in person, where ever they are in the world!

You may be a home maker, with a Teddybear collection, and you’d like to exchange information about garage sales with great potential, or new designs to make a bear.

2. Once you’ve decided Who you are and What is it that you’re passionate about, set up a profile that best showcases your self, and your passion. Put together a Bio (short for Biography), that extenuates your skills, experience and direction.

3. Register on the appropriate networks, and upload your Bio.

4. Most networks will help you to find your friends who already using the network, and encourage you to invite your other friends along.

Whatever it is that you do, or interested in, there is a good chance you would find a pal online, in a social, or business networking website.
There are also great ways to communicate with your existing friends around the country, or the world, share your thoughts, ideas, pictures, videos  - as much or as little as you want to share.

But what about my privacy????

Another FANTASTIC question!

No easy answer here either. The truth is, once you “go public”, you are giving away part of your privacy - people can now search (online)  and find you!
But, and this is a BIG But: you can now control what you want people to find, and you could also control (with privacy settings) who can see what information: some sites will have very low, if not no-online presence, like dating sites, or restricted networking sites.

Others, like MySpace, Facebook, and LinkedIn, will have great Googebility (presence in Google - to make sure people will find you). If you’re new to this world, it is a good idea to seek advice (Try Google :))

If you’re serious about Getting Noticed, and you think it will be beneficial for you professionally, check out Mr Personal Branding, and he could help,  or just leave a comment below.

Happy Socializing!

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World Jobless Could Hit 25 million in 2009

Posted by Luke Harvey-Palmer On December - 23 - 2008 ADD COMMENTS
US Whig poster showing unemployment in 1837
Image via Wikipedia

Not what you need to hear heading into Christmas (don’t worry, we will have some good news to0!) but this article sourced from AFP today on The Sydney Morning Herald paints a pretty grim picture of the job market in 2009!

The global economic crisis will push up unemployment by up to 25 million by 2010, the OECD chief has forecast, saying there has been a “truly scandalous failure” of regulatory supervision.

“We’re heading for a loss of between eight and 10 million jobs in the OECD area … and 20 to 25 million in the world as a whole between now and 2010,” Angel Gurria said on France’s BFM radi.

The International Labour Organisation earlier forecast that the number of global unemployed could go up by 20 million to reach a record high point of 210 million people by the end of 2009.

The Organisation for Economic Cooperation and Development in Paris brings together 30 countries, including all the world’s industrialised economies. The group conducts research and publishes economic forecasts.

Gurria also said that European countries should spend more in stimulus plans to kickstart their economies and suggested that the European Central Bank should lower interest rates because of falling inflation.

The European Union should “go beyond” the fiscal stimulus plans already announced, equivalent to around 1.4% of GDP, since “all the other major countries are going beyond that”, Gurria said.

He also said that the OECD economies were in recession in the current quarter and would remain so for at least the first two quarters of 2009, with many countries being in recession for most of 2009.

“We predict a recovery at the end of 2009 and weak growth in 2010″ he said.

Commenting on the build-up to the crisis, Gurria said there had been “a truly scandalous failure of regulation … and supervision”, and poor risk management and corporate governance by companies.

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9 things to do if you lose your job!

Posted by Luke Harvey-Palmer On December - 14 - 2008 5 COMMENTS

1. Get a Gym Membership! If you already have a gym membership, get yourself along to the gym the very next day! This is important for many reasons including; it helps you establish a routine (which is CRITICAL during stressful times), exercise makes you feel better, exercise makes you healthier, it is another environment to meet people and network!

2. Revisit your contact list! Download your list of contacts from your email client, or take out your business cards and work through them. Discard those who you think are worth discarding, and then make contact with everyone else either through email or a written note to say. “Hi, I have recently left ABC Pty Ltd, and I wanted to get back in touch to let you know of what I have been up to” Give them a run down of your skills and achievements and what you would like to do next!

3. Update your resume - NOW You should have already been doing this, but if not, then get to it. This will serve many purposes, but most importantly it will force you to think about your skills and experiences, and commit you to writing them down. If you have not had a resume for some time, I would recommend you get a resume professional like Meg Guiseppi.to help you out. A well written resume can make a big difference.

4. Get online You should at least set up a profile on LinkedIn, and consider other sites like Facebook, VisualCV, Tasty Nectar and many other social networking sites that will help you meet new people, and communicate your skills and talents to a wider audience in the search for your next opportunity. For those a little more ‘technically inclined‘ I would most DEFINITELY recommend starting a blog and writing about your passions and interest. It will act like therapy (writing can be calming) and will introduce you to a whole new world of opportunity (I guarantee).

5. READ - now is a great time to read all those books piling up on your bedside table. Visit www.amazon.com or the like and search for the recommended reading under subject areas that interest you. Seek out the best blogs and websites on these subjects and take time each day to read them, stay informed and LEARN!

6. Get invited - seek out some interesting events, and get on th einvite list. Even if they cost good money, these events can be invaluable for meeting new people, starting new relationships, and improving your confidence. The longer you spend away from social situations, the more uncomfortable you will become - so stay social!

7. Be Grateful - self help and personal development guru’s like Bob Proctor or Jack Canfield of the Secret talk all about ‘The Attitude of Gratitude” and how it can change your life (here is a good post on the 5 ways to develop and attitude of gratitude! Be grateful for the great skills you have developed and for those dearest to you like your family and friends. Be grateful for your good health!

8. Take some time out and work on #1 Don’t rush into your next opportunity (unless you have to). You may be surprised how easy it is to simplify your life, get rid of some unnecessary expenses, and afford to take little time out to ’smell the roses’ If your past role took a lot out of you, then it would be a good idea to recharge your batteries and take some time to get to know yourself. This would be a great time to work on DEFINING your Personal Brand, and working out what it is that excites you, and what is unique about you - do you have a Personal Value Proposition?

9.  Attend RE:THINK - and leave armed with new ideas and some fresh insights on what’s next?

Notice I did not mention getting yourself in to your nearest search consultant? This is not that I do not think they can do great work, it is just that this post is about the BEST things to do, and right now, search consultancies may not have too many jobs on offer…your next career step is up to YOU..it is time for YOU 2.0 - reinvented!

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Recent Comments

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Recent Comments

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