Here’s a website that hasn’t been mentioned in any of the blog posts yet: http://thelawentrepreneur.com/
It’s filled with podcasts and blogs about the intersection of law and entrepreneurship, written by Neil Tyra, a lawyer who opened his own practice.
I found this article quite interesting as it details the work of Sarina Prabasi, a Nepalese born woman who serves as the CEO of WaterAid America. I found it particularly interesting that she notes it was easier to get Americans to sympathize with the cause in the aftermath of the Flint crisis in Michigan. Empathy is always easier to come by when there is a degree of relatability to be seen, and this is a prime example.
Prabasi first opened a fair trade coffee house in New York City in 2012, and through her experience in that ended up rising to her current position. The pattern of starting a socially beneficial business on a small scale and eventually going on to become a leader of an NGO is really quite amazing to me. If more people did the same, the scope for growth of social entrepreneurship could be exponential.
http://www.wateraidamerica.org/press-release/wateraid-america-welcomes-new-ceo
One man did what large companies could not do.
http://www.latimes.com/business/autos/la-fi-hy-air-conditioned-helmet-20170401-story.html
Steve Feher, a repeat-inventor—who also has patents “on similar thermo-electric principles…that cool the seats in vehicles built by Rolls-Royce, Bentley, Ferrari, Infiniti, Lexus, and GM,” as well as a patent on a ventilated blanket for hospital patients—has invented and patented an air-conditioned motorcycle helmet.
The article reminded me of our reading by Tom Kelley, “The Art of Innovation: Innovation Begins With An Eye.”
There, Kelley encouraged budding entrepreneurs and innovators to “keep close to the action.” He stated: “Whether it’s art, science, technology, or business, inspiration comes from being close to the action.” (Kelley, 31).
Kelley argued that “sensory immersion” can lead to inspiration—which is exactly what happened here. Feher is an avid motorcyclist. He picked up on a problem that he and others were experiencing and created a solution.
Notably, as well, the article also discusses how his invention may actually encourage riders to wear helmets even when the law does not require it. It’s interesting that a single change to an already-existing product can have such a snowball effect.
Even though this article is about the role of the CFO in leading the company and fostering a positive “corporate culture,” I think it also applies to the “founder” of a particular business.
For example, the article discusses that CFOs have a responsibility to “foster collaboration,” “sit alongside [the] product development team,” and, ultimately, to “create a culture that inspires.” The “CFO” described in this article is thus very similar to an entrepreneur. Just like CFOs, an entrepreneur also has these responsibilities in addition to managing finances. An entrepreneur is often the CFO, CEO, and COO all wrapped up into one person.
Notably, as well, the article discusses “archaic leadership approaches” of the CFO who only focuses on crunching numbers. We’ve talked at length about the changing definition of an “entrepreneur,” and it’s interesting that it’s not simply one position that has been developing over time, but companies as a whole that are evolving.
A benefit of being an entrepreneur is the idea that you can “be your own boss.” Of course, that doesn’t mean that entrepreneurs are cut off from the rest of the world. This article describes how entrepreneurs are constantly negotiating, and the author offers his firsthand negotiation advice. He encourages a highly tailored approach, stating: “Entrepreneurs who enter into negotiations with a simplistic, one-size-fits-all approach, the fallout can have long-lasting effects.”
We’ve talked about online college programs as innovative disruptions that have continued to rise in popularity over the years. A similar innovation is the concept of working remotely. Today, working remotely is not only for “freelancers,” but for actual employees.
Interestingly, this trend has been able to grow only because of innovations in technology. It’s fascinating to consider how changes in technology can have a butterfly effect on workplace culture and employee structure. Indeed, this article states: ‘Technology has enabled work environments that are much more flexible and customizable.”
One company, Remote.com, celebrates “work without boundaries” and has “connect[ed] 2 million+ professionals with remote and freelance jobs using artificial intelligence.” Interestingly, their website further states: “our community of talent and technology is second to none and trusted by everyone from the largest companies in the world to one-man shops.” Indeed, their website includes logos from Google, ebay, FedEx, and Fox. Other companies also exist that foster digital remote employees, such as We Work and Remote Year.
I see some comparisons between digital learning and digital remote work. Although both are unconventional, I think they both try to fill unique niches in the market. For example, digital learning eases cost for students, whereas digital remote work eliminates the need for a commute. Both also foster flexibility.
Both also have similar downfalls: for example, neither creates a brick and mortar “community.” Still, the companies promoting working remotely often combat this by allowing employees to “find private offices or shared desks” to join (We Work) or by allowing their employees to travel the world with other site users who are working remotely (Remote Year).
The trend for digital employees has been gaining traction; indeed, Remote Year has been featured in Forbes, The Guardian, The Wall Street Journal, The Washington Post, Business Insider, and The Huffington Post, to name a few. Perhaps we will see the trend of digital remote employees continue to rise, just as we have for digital learning at various universities and colleges.
I found this article to be particularly interesting. Many people, when attempting to solve a problem, or enter into a new market, invariably ask “how?” E.g., “How can we solve this problem? How can we enter that market?” Often, as the article propounds, people fail to ask the most pertinent question in any successful endeavor: “Why are we solving this problem?” Why should we enter this market?”
As our group was brainstorming various social problems to tackle, we perpetually asked: How? What? Where? But, we drifted away from asking “Why?” It was only after we starting asking “Why?” that our idea really took off.
In the spirit of Passover, I thought I’d write a post regarding Israel.
Here’s a fact that I was entirely unaware of: Israel is a burgeoning technology startup market. Indeed, Israel is aptly named “Startup Nation.”
One of the things that is really animating Israel’s rise in the tech startup space, is an ethos of improvisation in the face of adversity.
As Ari Nahmani, founder and CEO of Jerusalem-based Kahena Digital Marketing, asserts: “Israelis are used to things not going exactly as planned. In fact, they expect the unexpected, and improvise and pivot at such rapid speed that it sometimes feels as if the lemonade was made without lemons,”
Another point of strength is that Israeli culture tends to favor directness. This can help in the entrepreneur space. The article reads:
“The classic Israeli mentality is direct, blunt and to the point — sometimes to Israelis’ discredit. But the upside is that Israelis tend to be very transparent in both their business dealings and their personal lives, embodying a refreshingly genuine “what you see is what you get” disposition.Being direct and up-front can serve you well in business. As long as you are tactful, being direct and transparent with your employees, suppliers, and customers will earn you their trust. And, when people trust you, they’ll feel secure doing business with you.”
https://www.entrepreneur.com/article/286573
This company manufactures and sells lab grown diamonds. As someone who is cognizant of the problematic diamond trade, lab created diamonds are a really great innovation. This article reads like a Q & A, and the ownership team really provides some sound advice, and they touch upon topics that we have covered in this course. I found this excerpt to be particularly interesting:
“What trait do you depend on most when making decisions and why is that useful for you?
LR: We have a wonderful set of checks and balances when it comes to attitudes and ideas. Jason is the visionary; he’s always looking ahead, thinking of the future, and optimistically planning for growth. I’m the small business owner; viewing the problem analytically and in great detail, asking, “How can we make this happen with the budget allowed?”
Given that we are at the group presentation phase of the course, I thought I’d share an article that uncovers the benefits of effective teamwork.
After using (somewhat reluctantly) Facebook, Snapchat, and Instagram for a few years I’ve had a decent chance to consider each platform’s growth. It’s no secret that competitors borrow ideas from one another, and there’s a strong argument that the ability to copy and possibly improve on an idea that another business developed advances technology and benefits society.
Even Steve Jobs, one of America’s greatest innovators, was known to steal/copy/borrow ideas regularly, and we still see this back-and-forth of idea exchange between Samsung and Apple today. It’s all in the name of progress!
But our class’s recent dive into patent law and some blatant feature copying by Facebook have me asking: how far is too far? I ask this question both as a consumer and from a legal/public policy perspective.
Consider Facebook’s recent decision to add “stories” to the platform. Months before, Instagram (owned by Facebook) did the same thing. Next you’re going to tell me that Microsoft Excel is adding stories!
What began as a highly original innovation from Snapchat has now been shamelessly copied by two of its biggest competitors.
As a consumer, I really don’t want stories on Facebook, and I’m not sure that Instagram needs them either. For me, the differences between platforms are what gives each its own unique usefulness. The extra features on an application, like stories on Facebook and Instagram, are just more clutter.
From a legal perspective, I’m surprised Snapchat wasn’t able to secure patent protection for a feature as distinct as “stories.” Of course, this could be due to my very basic understanding of patent law. Do we want businesses to be able to mimic competitors to this degree?
I understand that this move by Facebook is part of an effort to increase sharing among younger users, who are apparently sharing less content than FB’s older demographic. By the way, your Aunt Debbie just uploaded 500 vacation pics and commented on your profile picture from 6 years ago.
This Business Insider article provides a great summary of Facebook’s history of copying Snapchat.