Business Lessons from sucessful entrepreneurs and business leaders: LunchLearning.com

Reading time: 2 - 3 minutes

Video Time: 15 minutes 52 seconds

Has this happened to you? You’re working on a deadline and you call another department in your company to ask a question like, “When will X get finished?” or “What happened with Y?” and all you seem to get is the run around. Frustrating isn’t it? Or maybe you’re on the other side the problem and people keep asking you questions about things you know nothing about. This is common in large companies where each department seems to operate in its own little universe. Erik van der Zijden, creative partner for DigiRedo, knows this problem all to well. That’s why he spoke about the benefits of podcasting as a way to solve the internal communication problem that hinders so many businesses.

In today’s video Erik presents a case study about a pharmaceutical company using podcasts to increase internal communication.

Erik’s study outlines:

• The need for good internal communications
• The reason for using the podcast format
• The results of using podcasts

As you watch the video think about the implications that good internal communications can have on your company, like faster product development or better brand awareness. If you’re currently feeling frustration like the above story, then maybe you should suggest another communications strategy (like a podcast) to the decision makers of your company…they’ll thank you for it if it means a bigger profit margin. Enjoy!

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Reading time: 2 - 4 minutes

Video Time: 56 minutes 11 seconds

The idea of Avon Products inspires a wide range of thoughts ranging from the image of door-to-door saleswomen and house parties to that of top-line perfumes and men’s fashion. However, two things that generally do not leap to mind is a fashion juggernaut and an enabler for thousands of women across the country. As a company sometimes referred to as ‘The Company of Women’, it is only natural to find a woman standing at its helm: Andrea Jung, currently ranked as the sixth most powerful woman in the United States according to Fortune Magazine. She is a critical piece of the force of Avon and a figure well worth considering.

However, to truly grasp the concepts that drive Avon, we have to step back an era. Before women were even permitted to vote, much less be accepted in the workplace, the original founder of Avon, under the name of the California Perfume Company, decided to work with a predominantly female sales force. The spiritual element, in addition to the business logic, of female independence resonated with the company and proved to be a potent asset.

Maintaining this spirit of supporting women’s independence has done much to encourage the longevity of Avon by pushing them to explore new markets and giving the company a core concept to rally around through the ages. This center on aiding women has pushed the company to enter markets where other companies have shied away from, such as in developing countries, where women are just beginning to enter the economic environment, and grow in times of poor economic growth from people with an entrepreneurial spirit being laid off seeking new opportunities.

This video looks at a variety of elements, from the importance of spirit, constant reinvention, and the capacity to do multiple things at the same time. Whether it’s the ability to look forward at the future without losing sight of what brought you to that point or to strive towards an ideal while remaining grounded in reality, Andrea Jung is a potent woman at the head of a powerful company that has its very spirit geared towards uplifting peoples.

Reading time: 3 - 5 minutes

Video Time: 22 minutes 2 seconds

Let’s start off a week of important women in business with Sheryl Sandberg. It’s clear to anyone in the business-world that Sandberg has a pretty impressive resume. Currently the Chief Operating Officer of Facebook, her past jobs include Vice President of Global Online Sales and Operations at Google, and Chief of Staff for the U.S. Department of the Treasury. This year she ranked #22 on the 50 Most Powerful Women in Business by Fortune.

In this eloquent speech at a Stanford Business School Banquet entitled “Faces of Change, ” Sandberg tackles the topic of “Women in Management.” Sandberg’s speech is a perfect way to start off this week’s topic, because in it she offers us practical advice on how to make the business-world more equal. While Sandberg asserts that much has changed already and we must appreciate this, there is so much more needed. Sandberg illustrates how women continue to struggle for equality in the work-world, currently earning on average only 80% of what men make, despite earning 60% of bachelors degrees awarded. On the Wall Street Journal’s current list of the top 30 wage earners, only one woman is on this list. She explains how women are still underrepresented in top positions of power in our society, and that women who have successful careers are less likely to be married or stay married than men with successful careers.

So, how do we change things, how do we make things more equal? Sandberg gives women advice on how to stay in the work force, even while balancing the demands of a family. Her pieces of advice fall under three categories: pretend you’re a guy, don’t leave until you leave, and make your partner a real partner.

1. Pretend you’re a guy. This basically comes down to confidence. Put simply, men are more likely to overestimate their achievements and are more likely to attribute their accomplishments to talent instead of luck. Sandberg encourages women to be proud of their success. Along with confidence, Sanberg emphasizes the importance of women negotiating in the workplace; make sure you’re getting paid what you’re worth!

2. Don’t leave until you leave. Sandberg describes the issues involved with women who want to start a family and sometimes make premature decisions about their jobs because of this. She urges these women not to slow down because of future plans, and not to make apprehensive decisions. If you decide that you don’t want to leave your work, do not slow down. Continue to strive, take that promotion.

3. Make your partner a real partner. Sandberg illustrates how, according to research, in most married households women do the majority of housework and childcare even if they work full-time. These women are essentially working two jobs. The importance of having a truly equal partner in a marriage is essential to making women more equal in our society and specifically in the workplace.

Sandberg doesn’t sugarcoat it. She’s hopeful, but doesn’t deny that it’ll be hard work. She hopes to see women have more choices in the near future, but doesn’t forget the fact that men need more choices too. For instance, if a man wants to be a stay-at-home dad, he should be able to, but as of right now this is not a common choice for males.

So, enjoy this inspirational and informative speech, and hopefully you’ll learn a little about what you can do as an individual to promote equality in our workforce. Happy Learning!

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Reading time: 4 - 6 minutes

Total Video Time: 53 minutes 36 seconds

The last few days, we’ve been looking at technological changes that can change the playing field that are just arriving or are on the distant horizon. Today, we’re stepping in a different direction and looking at something a little less physical and more conceptual: the transformation from push-based mass production to pull-based mass customization. Or, simply put, selling customers exactly what they want, not just whatever’s available.

Robert Brunner (@rdbrunner on Twitter), the former Director of Industrial Design at Apple and founder of ammunition, best known for designing the PowerBook, hiring his successor, Jonathan Ive, and winning 23 awards from the Industrial Designers Society of America speaks on the importance of the brand and how, more than ever, it’s defining your company. In this lecture piece, Brunner strives to drive home the impact of the brand. However, it’s a subtle, complex element. The brand is not a product, though it draws from it, and the brand is not advertising, though it’s often used in it. Brand is each individual’s emotions towards the company. Or, more generally and purposefully applied, the collective mood of the people. This becomes ever more important when increased customization increases the diversity in product style and thus diluting product recognition.

This power of the idea of the brand is especially important in today’s environment where the emphasis is not on mass production anymore, but mass customization. Businesses in all sorts of industries have adopted this position, whether exposing it openly or as one of their core elements. Burger King’s slogan, “Have it your way” and Dell’s built-to-order flexibility are two prominent adoptions of this concept.

Customization is a powerful element and people have already shown that they are willing to pay a premium to design things to their specifications. Whether it’s food, computers or even refrigerators or garage doors, if there’s an after-market customization available, it’s fully possible to modify it first. Why should somebody else benefit?

Think of the past, envision the future!

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Reading time: 3 - 4 minutes

Video Time: 20 minutes 17 seconds

Today’s video is continuing off yesterday’s theme with Burt Rutan, a distinguished aerospace engineer. He is maybe best known for designing the Rutan Voyager, which was the first aircraft to fly nonstop around the world, co-piloted by Jeana Yeager and mr. Rutan. He was also the winner of the Ansari X Prize in 2004. If you missed yesterday’s video, the X Prize Foundation is a nonprofit institution that organizes competitions which aim to promote innovation and entrepreneurship. The Ansari X Prize offered $10,000,000 for the first private organization that could create a spacecraft able to be launched into space twice in two weeks.

In this intelligent and intriguing video, Rutan asserts that we’ve let ourselves slide backwards in space travel development. He passionately argues that we once again need to make innovations in space flight a top priority, and that this needs to happen in the private sector. Rutan discusses the renaissance of aviation that started with the Wright brothers in 1908. All done through trial and error and continuous attempts over many years, we were eventually able to make flying safe and efficient. Rutan points out that we haven’t done this in space flying; it has not been researched in this manner at all.

Rutan wants to see private business become involved in space flying, in fact, he believes that it’s necessary for space flight innovation. He wants to have what he calls a “capitalist space race.” Rutan explains how there is already investment around the world in private space flight industries, and he believes that space flight will flourish without the help of tax dollars. He continually asserts throughout the lecture the importance of innovation coming from private businesses, and sincerely believes that the business world cannot only develop this industry, but can do it the right way. He encourages entrepreneurs and business people across the nation to embrace the space flight industry.

So, enjoy this quick but intelligent talk, and just imagine the possibilities!

To read more about space exploration and the X-Prize, you can read our other lunch learning post about Peter Diamandis and the X Prize Foundation.

Reading time: 3 - 4 minutes

Video Time: 48 minutes 44 seconds

There’s no need to give Bill Gates a lengthy introduction, we all know his outstanding accomplishments. As founder of Microsoft he helped revolutionize the personal computer and his recent philanthropic efforts are extensive. In this lecture at Carnegie Mellon University, he discusses the future of software and the many ways it will affect our lives.

The lecture starts out with a small introduction and a short comedic video that Gates plays for the audience. The video is quite humorous, involves numerous celebrity appearances, and deals with his decision to switch from full-time work at Microsoft to full-time philanthropy work with the Bill and Melinda Gates Foundation. If you want to skip the humor and dig right into the lecture, then by all means skip about 14 minutes into the video.

Gates begins his discussion by asserting that we are on the verge of numerous technological breakthroughs, and that more and more processes are now being done digitally. One example he gives is the use of encyclopedias today. Ten years ago, most people would have pulled out a hardcover alphabetized reference book, but today, we’re more likely to consult sources like Wikipedia for our information needs.

Throughout the lecture, Gates speaks in much detail about specific software advances, such as “Microsoft Surface,” which is a surface computing product that uses motion and physical objects to control digital content. Gates explains how these new innovations will change how businesses operate, making information more readily accessible to workers, and that it will make the workplace more efficient but also more exciting. Not only will businesses change, but the technology we use at home, at schools, and in scientific research will too.

In the final part of this lecture, Gates turns to the topic of global problems. He gives some examples of how to use technology to solve global problems, particularly issues involving the poorest sections of the world. Despite the many problems around the globe, he is unwaveringly optimistic about progress; he knows that people do want to help and that the opportunities are out there.

So, enjoy this extremely educational and relevant video. Hopefully you’ll learn a little something about software, and get excited about what’s to come!

Reading time: 3 - 4 minutes

Video Time: 34 minutes 59 seconds****Woz starts talking about 5:30****

Steve Wozniak (@stevewoz on Twitter) is best known for co-founding Apple Computer Inc. with Steve Jobs, and inventing the Apple I and Apple II computers. In this video, Wozniak appears at a National Kidney Foundation gathering in San Jose, CA to talk about his book, iWoz: Computer Geek to Cult Icon: How I Invented the Personal Computer, Co-Founded Apple, and Had Fun Doing It. Wozniak speaks animatedly about his interest in computers at a young age, his attempts throughout high school and college to invent and create, and how he and his good friend Steve Jobs finally created their own groundbreaking business. Certainly, there are many lessons we can learn from Wozniak’s fascinating and often humorous story, especially if we are facing our own challenges in the business world.

Wozniak explains how very early on in life he had a keen interest in computers. He was so anxious to learn about them, that in high school he was already designing and building “mini-computers.” Not having a lot of money or even much information at his disposal, he consulted whatever manuals he could get his hands on, and simply built and rebuilt. At one point in the video, Wozniak implies that not having the money to build a computer was actually a blessing, because this gave him the motivation to build a computer that needed fewer parts to run. Wozniak stresses how he was constantly challenging himself, and used whatever resources he had at his disposal to learn and create.

Wozniak discusses his optimism for the possibilities of technology that continued to motivate him throughout his college years. Unable to take any undergraduate computer science courses because they were simply not available at the time, he enrolled in graduate courses. He was not going to let anything stop him from learning what he was most passionate about.

Wozniak ends the speech by touching on his eventual friendship with Steve Jobs and their business collaboration which, of course, brought about Apple Inc. Wozniak beams as he reminisces about the early days of Apple, remembering the exhilaration he and Jobs felt at the prospect of a business that was their very own.

In this video, Wozniak inspires us with his resourcefulness, motivation, and optimism. He asserts that the best kind of learning in life often comes from just digging in and getting hands-on experience. Let his enthusiasm and life lessons inspire you to achieve your own goals!

Reading time: 3 - 4 minutes

Video Time: 26 minutes 36 seconds

Let’s start off a week of science and technology-related videos with Neil Gershenfeld, who is head of the Center for Bits and Atoms at MIT. In this short but information-packed video, Gershenfeld discusses the Digital Revolution that has brought about the existence of “Fab Labs.” What exactly is a “Fab Lab?” Well, the term is short for fabrication laboratory, which, according to Gershenfeld, is a place where you can make pretty much whatever you want. In this video, you’ll learn how these new labs are putting the process of invention at the fingertips of ordinary people.

Gershenfeld discusses how, several years ago, he taught a digital fabrication class at MIT which he called, “How to Make (Almost) Anything.” Gershenfeld marveled at how excited the students were to create things that fulfilled their own personal interests or desires. The examples that he gives of his student’s inventions, which include a web browser for parrots, and an alarm clock that needs to be wrestled before it shuts off, are hilarious but incredibly unique. These inventions illustrate the infinite possibilities of Fab Labs –which make it possible for anyone, anywhere to become an inventor.

Gershenfeld also describes how Fab Lab’s have been helping communities solve problems locally. Fab Lab’s are popping up all over the globe in places like India, Africa, and Norway. Be sure not to miss the end of the video where Gershenfeld gives examples of how people in other countries are using Fab Labs to solve local problems. One example he gives is how a community in India is making analytical instruments in their Fab Lab, so they can test their milk to make sure it is safe for consumption. These instruments, if purchased, would be extremely costly, but thanks to the Fab Lab, the people are able to make them for a very small amount of money. Gershenfeld also shows how Fab Labs bring technology to rural areas, when at one point in the video he points to a tiny computer that was made with only $10 worth of materials and can be hooked up to a regular TV.

In this video, you’ll learn that not only are the possibilities of invention endless, but they are also within your reach. No doubt, this Digital Revolution in personal fabrication will continue to change the world. For more information on Fab Labs, check out Neil Gershenfeld’s book, Fab: The Coming Revolution on Your Desktop– from Personal Computers to Personal Fabrication.

Reading time: 4 - 6 minutes

Video Time: 23 minutes 16 seconds

Newt Gingrich (@newtgingrich on Twitter) is probably best known for his role as the Republican Speaker of the House in constant opposition to the policies of the Clinton administration. Though it’s been ten years since he’s left the House, his political ambitions and opinions haven’t diminished. But perhaps they’ve changed a bit?

In this short but tidy interview with Stan Pottinger of PlumTV (@PlumTV on Twitter), Gingrich proclaims passionately that the people are tired of democrat versus republican politics, which. . .surely. . .is not a new proclamation. No doubt, we’ve heard this assertion over and over again by many political figures. . .especially during election years. And, given this “new” approach by a politician whom many would consider fervently partisan, Stan Pottinger is quick to point out the irony of Gingrich’s seemingly new stance on politics. Gingrich, who was arguably once at the helm of partisan politics, simply smiles and discusses the importance of finding a common ground without sacrificing your own beliefs. For the cynic, Gingrich’s cooperative attitude is clearly in contrast with his past. . .to the optimist, it’s proof in the pudding that even the most seemingly inflexible, and extremely passionate person, can change their mind. I’m reminded of a great quote attributed to another politician/economist leveled with the charge of inconsistency, John Maynard Keynes, who shot back at his foes with: “When the facts change, I change my mind. What do you do, sir?” Brilliant, and we’re ALL entitled to the same.

This, of course, is an extremely important lesson for anyone, particularly entrepreneurs and those of us having to make tough decisions in our business professions. If a man who was once so synonymous with polarization and partisan politics is now asserting that we must work together, why can’t we set ourselves in the direction of aiming to do the same? Working together despite differing opinions or ideologies is something that we as a country and, let’s face it, we as individuals continually struggle with constantly., and yet, if we are willing to take up this challenge and do our best, we’ll find it becomes an essential component to our success.

One issue for which Gingrich is working on across partisan lines is the problem of climate change. Although discussed somewhat briefly during the beginning of the interview, be sure not to miss it. One of his main ideas includes addressing this crisis and other environmental issues with an entrepreneurial approach, and he believes that incentive-based programs that promote new technology and innovation are the key to resolving these problems. For more background on Gingrich’s environmental policy position, check out his new book, “A Contract with the Earth.”

Gingrich also discusses his upbringing and family life. . .relaying the importance his family and relatives placed on reading, learning, and a strong work ethic. The notion that you can be whatever you put your mind to is one we hear often, but most likely don’t take too seriously. Perhaps we believed this when we were children, but it faded as we got older and became bogged down by real life. But maybe we should consider it once again, and know that people are reinventing themselves all the time, everyday.

Other interesting tidbits to look for in this interview include Gingrich’s opinion of the Clintons, his views on the current Republican Party, and his new nonpartisan project called American Solutions. Enjoy!

Reading time: 3 - 4 minutes

Video Time: 57 minutes 45 seconds

I’m a sucker for an underdog story. And who isn’t really? If you’re at all capable of being inspired, then you’ve got to love learning about people who have overcome seemingly insurmountable obstacles to achieve the “impossible” …

Sometimes, these underdog stories are of men and women who come from humble beginnings, yet go on to change the world. . .other times, they’re stories of men and women of means who also go on to change the world in the face of an underdog cause, and sometimes they’re stories of people just like you and me, who overcome obstacles in their own universe to change their own lives and surroundings in a positive way. Regardless of their wealth, education, upbringing or geographic location, these underdog serve to teach us a very valuable lesson: that persistence with an eye toward a single, or multiple goals, can yield great results. And the wisdom of hindsight that comes from learning from such underdogs is what this week’s LunchLearning.com is all about.

This week, we’re going to take a look at several men and women who have risen up from their own individual worlds, to leadership role in the geopolitical arena. This is a “politics-aside” learning week, and I’ll try to pick people who allow us to straddle this line as much as possible. But what we’re attempting to do with this week’s lessons is not harp on politics, but rather take a look at vision; good or bad, successful or unsuccessful, and how we can take some of these principles and apply them to our own lives and businesses.

So, with that in mind, today, we’re going to hear a little bit from Minister Mentor Lee Kuan Yew of Singapore. If you’re not familiar with Minister Lee, or even Singapore for that matter, his story, and the story of Singapore is one of incredible possibilities. In this talk with Charlie Rose, Minister Lee talks with Charlie about how Singapore evolved from a third-world country after WWII, into the first-world country it is today. This week they even had Formula One racing running through the streets of the city-state!

Here’s a good background on Lee Kuan Yew from Wikipedia. Pick up Lee Kuan Yew’s memoirs if you’re looking to learn even more about him, his leadership style, and the combined efforts that have resulted in Singapore’s admirable place in the world today. If you’d like to learn more about the history of Singapore, I’d recommend “From Third World to First : The Singapore Story: 1965-2000″