No blogging this week due to travel so I have posted some links to recent popular posts:
The Digital Age is Not a Solution
Social Entrepreneurship, Corporate Social Responsibility and Shared Value
GH CAPITAL PARTNERS
Recent Posts
Background
May 21, 2012
May 07, 2012
Hands on Learning
Saturday I taught a boating safety course for young children (8-13) and adults through the Coast Guard Auxilary. What I always marvel at in these classes is the enthusiasm the children bring to learning about boating. I use a lot of question and answer to develop the themes and the children actively participate. I have noticed that how one handles a wrong answer is critically important. Any negativity in my response and the child shuts down for the rest of the day and stops participating. I think that even at this young age schools have already conditioned the children not to make mistakes.
Talking to one of the parents during the lunch break provided an interesting insight. He talked about how many, many mistakes he had made when he first started boating, but that over time he had become more accomplished. In other words, he had not stopped boating because he had made mistake after mistake. Three observations:
- Boating is a very "hands on" activity with little theory or complex concepts to master before starting out. By doing boating one learns to safely and successfully operate the boat
- When you learn boating by yourself, you have no one to criticize you (except perhaps a terrified wife) and you overcome the mistakes over time
- With thousands of dollars invested in a boat, one is motivated to learn how to do it.
Much of the way one learns boating mirrors Piaget's theory of how children learn. The learning is hands on, self-directed and with little input from a teacher.
I am increasingly coming to enjoy teaching young children. They are like sponges if you do not snuff out their natural enthusiasm. Maybe I should start a charter school using a boat. Wonder how expensive a marine Internet connection is?
Image credit: watersport-insight.com
April 30, 2012
Financial Modeling Workshop Miami May 11
I will be doing a workshop for the FIU Pino Entrepreneurship Center on May 11. The workshop focuses on how to build financial models, including an introduction to some advanced Excel commands that make building models easier. This workshop begins where my workshop on business concept development and growth drivers ends. There is an exercise that develops the logic of model building, a digital handout of a linked income statement, balance sheet and cash flow model and a handout of the advanced excel commands.
More details on the workshop are here. Proceeds go to the Pino Center at FIU. If you would like to see a previous presentation, look here. Very practical, little theory, informal style.
Disclosure: I am a member of the Board of Directors of the Pino Entrepreneurship Center.
Thoughts on Humility
Gaston Acurio at Madrid Fusion 2006 (Photo credit: Wikipedia)
On a recent flight all my electronic devices needed a charge so I read the American Way magazine in Spanish. One story featured renown Peruvian chef Gaston Acurio. When asked to what he attributed his success, he said humility. Humility enabled him to objectively evaluate the results of his cooking and spot the errors.
This point struck a cord because the night before I heard Mohammed Yunus speak at the Hult Global Case Challenge in New York. As a Nobel Prize winner and probably the inventor of social entrepreneurship, the man has some accomplishments to tout. However, the most noticeable quality about Professor Unus is his humility. In a thirty minute speech he never used the word "I" to describe his accomplishments in Bangladesh.
Unus sounded very much like Albert Einstein. I have been reading the arts and letters (not the physics) of this very accomplished thinker. The book is titled Ideas and Opinions. One consistent theme in Einstein's writings and speeches is the fun he poked at organizations (and himself) that gave him awards. Again, humility comes through as one of the strongest messages.
In the matter of 24 hours I have three great examples of world class practioners, all in very different disciplines, but all demonstrating the value of humility. I suspect that you do not become humble after you become world class, but rather humility facilitates world class work. By not being so self-centered you have an easier time to spot your errors (Acurio) and you probably devote more time to your work and less to self-promotion.
Another benefit of humility is you worry less. All of the students presenting at the Hult Case Challenge were jazzed up and very nervous. Not uncommon at a big event with many people presenting. In a perfect world maybe they were so excited because they did not want to fail their team members, but I suspect that there is another reason. They were all worried about looking bad in front of the audience. Humble people do not worry about such matters and just do the best they can.
Want to worry less. Be more humble.
April 05, 2012
Classroom Etiquette
Today's post was inspired by this story from Inside Higher Ed, "U. of Ottawa Profs Want Right to Ban Laptops".
Many university professors ban the use of laptops and cell phones in class. The apparent logic is to prevent the students from being distracted. Presumably the students will take notes on paper.
I use a completely different approach. I have no policies in my classroom, except that I stop conversations between students if it is disrupting the class or annoying me. Why do I have such a laissez faire attitude?
The answer is simple. It is my job to keep the students engaged with the material. If I do not engage the students I have failed as the teacher. To keep the students engaged or entertained I use videos, discuss blog posts, tell alot of stories and use humor as much as possible. I also always take a break of ten minutes in my 2 hour and 50 minute class. Most people cannot concentrate for more than 60-90 minutes without a break to refresh.
I do have certain advantages which make my "no policies" approach work:
- I teach an interesting subject--entrepreneurship
- My course is not required, so everybody elected to be in the course
- I am a native English speaker, which makes it easier for the estimated 90% of students that are not native English speakers (two non-native speakers talking to each other can be a challenge)
- I have personal stories to illustrate almost every point I teach
I use to feel guilty about how much fun I had teaching. Then a friend from MIT told me that teachers have to be showmen. Showmen don't worry about laptops or cell phones.
March 15, 2012
My IT Experience(s) over 40 Years
Fred Wilson did a nice post on his personal history in computing, which inspired me to recall my own history.
I first used a computer in 1969. It was a time share service provided by NORAD to high school students. The free dial-in service prompted us to make long distance calls rather than program the computer. Missed the chance to invent VOIP.
In 1982 I invested in my first IT company, a provider of videotext. Learned the importance of not being ahead of the market when investing. The Internet came along about 10-12 years later. Went off to Japan for eight years instead of continuing to invest in IT companies.
In 1983 I had my first email account on Compuserve. Used the account to surf Compuserve content from hotels around the world on weekends. Licensed Compuserve in Japan, which lead to the first ISP there.
In 1995 I made my first Powerpoint presentation at a conference. Everybody else still used transparencies or slide dollies.
In 1996 I established the first networked company in Indonesia for email. Also I built the first private voice network using satelite. Saw my first business card with just an email address for contact information.
I bought my first personal organizer in 1997, a Palm 1000. I bought my first BlackBerry in 1999 when it was an email only device. Wish they still made the email only version.
In 1999 I raised $35 million for an Internet-based company. The first Internet bubble burst shortly thereafter.
In 2000 I ran a telephone company and correctly called the growth in data services. Data service revenue grew to $18 million in one year. Experimented with private wireless networks for companies, which never caught on.
Started blogging in 2007. July will be five years. Great decision for me and hopefully the readers.
Started tweeting in 2008. Spanish language tweets give me great access to links and info I do not normally see. Have met some great people through Twitter (and blogging).
Joined OLPC in 2009 and began a serious education in operating systems and hardware components. 40 years after my first use of a computer I actually understand the engineering.
March 12, 2012
One Year After Fukushima
Peter Kim sent me this video about Japan one year after the Fukushima nuclear disaster.
I worked in Japan for ten years. Makes me sad every time I see the destruction from the nuclear accident.
February 28, 2012
Freidrich Hayek Explains Social Entrepreneurship
I have a series of presentations I do on entrepreneurship, social entrepreneurship and OLPC. Lately more and more speeches are on managing social ventures. Every once in a while I get asked to speak on a new theme from my blog, which explains my upcoming lecture on Friedrich Hayek. Previous posts on Hayek are here and here.
On March 14 I will be speaking on Friedrich Hayek, Nobel Prize winning Austrian school economist. The lecture is entitled "Friedrich Hayek Explains Social Entrepreneurship" and will be held at the Barry University Library in Miami at 12 noon. This speech will be memorable in some ways because it outlines the last 2 years of my thinking on education, economic development and individual empowerment.
On March 2 I will be speaking at FIU on developing a business concept and business model. Event begins at 830 and last 3 hrs. It will be held at FIU’s College of Business Complex Special Events Center, CBC 232: Modesto A. Maidique Campus 11200 SW 8th Street Miami, Florida 33199. Details here.
I will be speaking at the MIT Sloan School in Boston on March 6 in E62-223 at 6 pm. The topic is "The Complexity of Building Social Ventures".
Later in the month I will be speaking at Harvard Business School again and for the Pino Entrepreneurship Center. Details to come.
February 20, 2012
Judging Hult Global Case Challenge
Image via CrunchBase
I am off this week to Taipei for business and Shanghai to judge the Hult Global Case Challenge. Students from around the world develop strategies to scale each of three social ventures. OLPC is one of the social ventures. The other two are Habitat for Humanity and Solar Aid. $1 million in seed capital goes to the winners.
Traveling with only an iPad, blogging will be more challenging than it should be. Therefore, below are some popular posts from SF to read until I return.
- Social Entrepreneurship, Corporate Social Responsibility and Shared Value
- Lessons from 100 Years at IBM
- ABDI Presentation on the Future of Brazil
- A Proud Professor
- Excel Models and Tips
January 23, 2012
Update: Coral Gables Entrepreneurship Workshop FEB 8
I will be doing a workshop for the Coral Gables Chamber of Commerce on February 8 from 10 am -12 noon. I expect that more established business owners will attend so the focus will be on how to grow a business. The topics will include understanding the customer, the growth drivers in the business and what prevents scaling a business. Many of the themes are discussed in my book, "Billion Dollar Company: An entrepreneur's guide to business models for high growth companies", which is available on Amazon. Video review of my book by Jeff Stamp is here.
Location:
Mercantil Commercebank, N.A.
220 Alhambra Circle, 12th Floor
Coral Gables, FL 33134
There is a fee of $50 for on-site registration. For more information and applicable discounts follow this link.
January 05, 2012
Teaching at MIT Sloan School
Image via Wikipedia
For the second year I will be teaching a course in social entrepreneurship at the MIT Sloan School of Management beginning January 23. I am planning to use the first half of my new book as part of the teaching materials. Will be very interesting to get feedback from the students.
The first half of the book deals with:
- Why social entrepreneurship emerged as a new business model at the end of the 20th century
- Discusses entrepreneurial and non-profit business models as major influences on social entrepreneurship
- Defines social entrepreneurship
- Describes the three business models for social entrepreneurship
For the sake of completeness, the second half of the book deals with how to successfully scale a social entrepreneurship venture. Many of the points are illustrated by examples from OLPC.
Anybody who wants to meet up in Boston should let me know.
December 30, 2011
December 21, 2011
Twitter Strategy a Mistake
As the year ends I realize I have made a mistake in how I use Twitter. Basically in 2011 I only used Twitter to re-post my blog. Interesting articles that I found in my daily blog reading I posted directly to Facebook or Google+. The better alternative would have been to post to Twitter, which automatically updates Facebook. Considering the constant good examples from @janieC and @yaquesita, I should not be making this type of mistake.
In 2012 I plan to do more posting to Google+. I like the early adaptor audience there and I get more useful content. If it were not for about five people on Facebook who I find entertaining or care about I would just give up Facebook. Maybe the New Year's resolution should be to just devote more time to those five people.
Reading the early flow of yearend predictions I have found boring so far. Usually this inspires me to do my own predictions. Maybe I will do some further thoughts on urbanization, which will definitely be a theme on SF in 2012.
November 11, 2011
Entrepreneurship Workshop FIU Pino Center Miami
I will be doing my third workshop of the year for the Pino Entrepreneurship Center on Dec 2. The 3-hour workshop focuses on how to develop the business concept and the business model. The workshop is based on my book, Billion Dollar Company: An Entrepreneurs Guide to Business Models for High Growth Companies.
I have been doing this workshop for about five years and I actually think it works best in the current short form. You get the really important concepts without the distractions of too much detail. If you would like to see a sample of my style of presentation, this lecture on social entrepreneurship on Vimeo is representative. Some participant feedback on another lecture is here.
Registration details are here. Proceeds go to the Pino Center where I am on the Board.
October 31, 2011
REMINDER: NOV 4 Latin American Business and Finance Conference
November 4th I will be moderating a panel on corporate social responsibility in Latin America at a new conference in Miami. Sponsored by the Colombia University Business School (my alma mater) alumni in South Florida, the Latin American Business and Finance Conference brings together thought leaders from across North and South America to discuss a wide range of themes in business, finance and economic development. Conference details are here.
Another Reason to Teach
I have written about why I teach here and here. I spoke at the University of San Diego last week and received the email below.
"Mr. Hacker,
Yesterday was my best day in business school. That sound you heard halfway through the class was my paradigm completely shattering after learning what OLPC is doing, its impact, and its potential. I hope you realize you are spreading more than just education to the children, you are spreading enormous hope to the adults.
As I mentioned as you were leaving, I got excited about OLPC for a number of reasons: 1) Doing something good in the world, something that truly matters, is what I did in the Marine Corps and I am determined to continue doing so in my professional career, 2) I taught Leadership at the U.S. Naval Academy and I have seen the inherent power of education, 3) productive education from the ground up, can reduce the amount of conflict in our world resulting in, ideally, sending fewer and fewer people (on all sides) into harm's way, and 4) my daughter is two years old and I am absolutely focused on making, and leaving, a better world for her.
Before yesterday, I thought it would be a cold day in heck before I considered doing anything with a nonprofit. Today, I can't think of anything I would be more excited to be part of. If there is a way I can get involved with OLPC, please let me know."
HOO RAAH! OLPC can always use a "few good men" or women.
October 26, 2011
Copy Hackers--For Better Writing
I like to promote products named "hacker" for obvious reasons, including that they are frequently excellent. I love Hacker News, perhaps the best tech RSS feed around. Today I would like to bring to your attention Copy Hackers, an equally excellent offering.
Copy Hackers was started by a former copywriter at Intuit. The story of this startup is here. Copy Hackers offers information and a series of downloadeable books on how to properly message in designing a website. Excellent material on properly developing a website, but perhaps the bigger value is that the advice will make you a better writer overall.
While the quality of my writing does not establish me as an authority, I have noticed over the last few years that the ability to write well is becoming a dying art. Thoughtful writing is even more scarce. Copy Hackers will help you to improve your writing. Look at the book samples to see what I am talking about and improve your writing.
I am not affiliated with Hacker News or Copy Hackers. I am affiliated with this book on entrepreneurship.
After I finished this post a friend sent me this business card from a Google executive. I deleted his name but the title is great.
October 24, 2011
Elevate--The Movie
Very nice to see South Kent School, where I am on the Board, featured in a movie.
The movie is Elevate and it tells the story of four young Africans who come to the U.S. to pursue their dreams of playing in the NBA. Two of the boys become students at South Kent School where they prepare for college and hopefully professional basketball careers. Most of the trailer for the movie shows scenes of the boys at the school. Great stuff.
South Kent School is a college preparatory, all male boarding school located in South Kent, CT (about one hour from New York City). Some students at South Kent School aspire to careers in professional sports, but even if they do not make it they leave the school well educated and men.
I joined the SKS Board because of the project described in this video. This project combines IT technology, education and entrepreneurship in an environmentally sustainable campus. I think it is one of the most noteworthy projects in U.S. education.
October 18, 2011
Popularizing Your Blog
It has been quite a long time since I promoted my blog. This post on MonetizeD reminded me that such efforts are long overdue.
MonetizeD recommends a professional picture on the blog. My best photo is below.
MonetizeD recommends "list your important accomplishments, but don’t go overboard!". I have updated my iPad to the new OS 5 all by myself.....and the iPad still works ....is my most important accomplishment in the last 48 hours. I will refrain from listing yet another speech, workshop or conference where I am speaking....because I did that yesterday.
The next MonetizeD point is "talk about how long you’ve been involved in this niche". I have been involved in attempts at humorous blog posts since the inception of Sophisticated Finance. All 20 humor posts are here. My favorite is here. For you new readers, the favorite post discusses the Hacker Universal Theory of Management "HUTM". Reminder: always have an acronym for a theory.
The next advice from MonetizeD: "you have to let your potential customers know that you’re totally into what you’re doing, and should show them why they should be into it, too. A picture will suffice to document my ardent support for this notion of "total commitment" to humor--my FB pic--Google's tribute to Jim Henson. A brilliant, elegant and funny piece of work, as shown below.
MonetizeD also recommends "give them top-notch stuff!". See the history of humorous posts link above or if you are really nerd like check out these posts on Excel modeling. If that does not satisfy your craving for intellectual stimulation, this post on game theory in economic development is surprisingly popular and this post on mathematician George Polya is approaching "all time favorites" levels.
Last piece of advice from MonetizeD: "Keep in touch. Make sure you give your readers each and every link to all your social media profiles." All of my social media links are here, on my book site. MonetizeD forgot to tell you to write a book, so I add this reminder.
All good advice from MonetizeD if you are serious about promoting your blog.
A short profile on what I do when I am more serious is here.
