Category Archives: Internet Marketing

TO BE OR NOT TO BE HACKED?

by William Shakespeare,

alias Moises J. Goldman and John Jonelis

 

William “Moises” Shakespeare

Hamlet—To be or not to be hacked? That is the question. Whether ‘tis nobler to suffer the slings and arrows of outrageous fortune, or to take arms against a sea of phishes, gouged by creatures who boast no scruple, nor affect any purpose higher than foul destruction—and by opposing, end them?

(Editor’s translation—Hackers are a bummer. This is war.)

Or may say ‘tis wiser to remain in dungeons rank and old—to sleep, perchance to dream—ay, there’s the rub. For in that sleep, what dreams may come? The internet makes cowards of us all.

(Editor’s translation—Should I upgrade the robustness of my internal infrastructure and firewalls?)

Horatio—But soft, me lord, to think upon the many turns a kindom make. Betwixt two means shall we choose to take.

(Editor’s translation—There are two good options.)

Hamlet—Ay, the dilemma. To guard against an angry pack of dogs that tear and rent and hack away till strength and blood be spent. How wouldst thou fight, Horatio? I would not hear your enemy say you could do it. Nor shall you do my ear that violence.

(Translation—Don’t feed me a pack of lies. If we encrypt all sensitive data and cyber-secure our network we still can’t achieve fail-safe.)

Horatio—Hear me lord; I make my case: Should bits and bytes habitate high Clouds, and thus free a kingdom’s gold? Yea, no arms, no knights, no castle walls to tug the purse’s string! ‘Stead exult in markets, foul of hogs and sheep and goat? Entice the sorcerer to play in darker arts, in unknown moat? To raise a legion—conquer lands anew beyond the sea? And so extend a kingdom’s reach?

(Option #1: The Cloud is cheap. Save your money for marketing, R&D, and expansion.)

Hamlet —Methinks this boy hath soundly grounded thought. He makes PaaS-ing SaaS at learning dearly bought. It takes no brain to buy his train of thought.

(Good logic—a no brainer. The Cloud. Platform as a Service. Software as a Service.)

Horatio —But soft, me lord, I fear foul play! This Cloud by wild winds be cast astray. It boasts no force to hole the gauze in tumult and in fray, and by doing so, steal the treasury of intellect away. ‘Tis best, to build yon castle walls of stouter stuff, some say. Keep bytes and treasure close and spend on fodder and on hay.

(Option #2: The Cloud is way too vulnerable to attack. Update your in-house network.)

Hamlet —Wouldst thou squeeze gold from a lark? Something is rotten in the state of Denmark. But harken thee—where may best advantage be? What odds see ye?

(That equipment’s expensive! What’s the probability of being hacked either way?)

Horatio —Sorcerers be that wouldst draw straight crook from snarled oaken tree.

(Mathematicians use probability trees.)

Hamlet —O cursed spite that ever I was born to set it right!

(I hate math!)

Horatio —Of haste take not. Outcomes be but three. Take heed of which I shew to thee.

(No big deal. There are only three probable outcomes.)

Hamlet—Hold, varlet! There be a fourth outcome lacked. That one repent, not hacked.

(Hamlet points out a missing variable: An enterprise upgrades internal systems and yet escapes hacking.)

Horatio—‘Tis true M’lord; yet is it moot? Such foes by needs be met; nought ground under heel of boot. Complication wears poorly on thee. There be no guarantee. This outcome we call

1-P3…….(1)

Hamlet—Ha! There are more things in heaven and earth, Horatio, Than are dreamt of in your philosophy.

(I’m not as dumb as I look.)

Horatio —‘Tis sooth, my liege—I seek not to deceive. I shall draft a map that deeper knowledge ye may tap. Yon magic shall appease; thy grace’s ire set at ease.

(I’ll make it simple, so even you can see. Take a look at this probability tree.)

Horatio—M’lord do you see? If systems new and hacking lacking, probability is simply:

1-P3.

(The probability of an internal network not getting hacked.)

Hamlet—What make I of this plunder? To ask a fool is to blunder.

Horatio—Magic formula ye seek, to make right your decision? Fortunately, Shakespeare knows it with precision.

(Be cool. I got this.)

Horatio—Look here, dear Ham, and spy yon enterprise, floating on the Cloud. P’haps never to hack or wound with sharp blade. We dig our likelihood with a spade:

‘Tis thus:

P1+(1-P1)(1-P2)=1-P2(1-(1-P1)………(2)

(The probability of not getting hacked on the Cloud.)

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Hamlet(Aside) Madness in great ones must not unwatch’d go. A screw is loose. He rhymes like Dr. Seuss.

(Horatio’s gone bonkers.)

Horatio —But hark—magicians work dark secrets in a day that mortal man can plumb no other way. I spell it in a cypher and so you see the final answer to this mystery.

(Here dummy, I’ll spell it out for you.)

Hamlet—Indeed, this must I see.

Horatio—Floating on a Cloud, your enterprise two chances be allowed to escape from doom, not hacked asunder. The Cloud foul Russian must attack rapaciously before the knife may reach your back with certainty.

(If your enterprise is on the Cloud, hacking is a two-stage process. The Cloud may get hacked. But even then, your enterprise may escape damage.)

Horatio—To ride the Cloud in skies of blue, equation (1) must be less than (2). Hence:

1-P3<1-P2(1-P1)…….(3)

We boil down that poison thus, and there you have the clue. If the fates should sing this song aloud, my enterprise will float along.

P3>P2(1-P1)

(The absolute condition for an enterprise to go to the Cloud.)

Hamlet—Dost thou think me easier play’d on than a pipe? For ‘tis sport to have the enginer Hoist with his own petard, an’t shall go hard.

Horatio—Dost thou salve the ego with a threat? Is this the way all friends are met? But hear me, Sire, ‘tis plain to do. I will write it out for you. Be ye not a foe to the way the numbers go. Ye shall recall the probability of hacking free be 1-P3. If a wise man, on gauzy Cloud his merit bent, to the tune of 80%, the numbers show thus:

1-P2(0.2)

(Here ya go, Mr. Bigshot CIO—if the probability of not getting hacked on the Cloud—P1—is 80%, then 1-P2(1-0.8) hence 1-P2(0.2)

Hamlet—Still it be Greek to me.

Horatio —Here, my lord, I will unravel the way that ye must sway, to the ending of thy quest. Be in knowledge, not in jest.

(Gotcha!)

Hamlet—Get it over before I die.

Horatio —Here’s an end so ye may rest like bones inside a chest.

If P3>(0.2)P2 be true, to the Cloud get ye hence, else makest equipment new and play yon cards close to thy vest.

(This is how the CIO makes the decision.)

Hamlet(Aside) This be a fellow of infinite jest, of most excellent fancy. He rhymes obtuse like Mother Goose. Yet I shall the effect of this good lesson keep as watchman to my heart.

(Translation—Good! Let’s have a beer.)

(Curtain)

.[DOWNLOAD ARTICLE IN PDF FORMAT]

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NOTE – This example follows similar logic and Decision by Professor J. Sussman used in his lecture to the Engineering Systems Division entitled, DID BELICHICK MAKE THE RIGHT CALL?

[READ BELICHICK PART 1 – PDF]

[READ BELICHICK PART 2 – PDF]

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About the Authors

Dr. Moises Goldman is uniquely involved with STEM (Science, Technology, Engineering, and Mathematics). He is a member of several advisory boards at MIT and is a founding member of the TALENT program at IMSA.

John Jonelis is a writer, publisher of CHICAGO VENTURE MAGAZINE and NEWS FROM HEARTLAND, author of the novel, THE GAMEMAKER’S FATHER. BFA, MBA from Kellogg.

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Photography and Graphics – John Jonelis, MS Office

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. Please perform your own due diligence. It’s not our fault if you lose money.
.Copyright © 2017 John Jonelis – All Rights Reserved
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CHICAGO—THE BEST INCUBATOR IN AMERICA?

by Denny O’Malley

Recently, Inc.com published an article about the best cities for early-stage companies. The premise: Chicago is the surprise winner.

Why would that be? San Francisco and New York are both beautiful, thriving cities that dramatically represent the diversity of American ideas. San Fran—younger, more venture-oriented, with beautiful natural vistas. New York—the classic, bustling private and public equity concrete jungle.

What do they have in common? It costs a kidney to pay rent for a closet. Continue reading

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YOU MIGHT AS WELL DANCE

help-t-ms-officeIT Guys—Stop Playing Defense

by Howard Tullman

Not feeling enough love? Yes, techies are under appreciated until spit hits fan. But if you’re one of them, you’ve got a bigger role to play than you think. Here are three ways to raise your profile.

I feel bad for the guys in our IT department because they suffer the same career issue as the heads of Homeland Security. As we all know, terrorists and other scumbags only need to get it right one time and horrible things happen. Yet our counter-terrorism teams and other law enforcement agencies must try to be right every time. Then, when nothing happens, no one bothers to thank them or offer recognition for their work.

it-guys

People whine about cost, delays, and all the stupid rules. They figure that protecting us is what we’re paying these folks to do. The best the good guys can hope for is a tie. No harm—no foul. And no credit for keeping us safe.

I Don’t Get No Respect

IT departments in almost every business get the Rodney Dangerfield “I don’t get no respect” treatment. They’re taken for granted and get little or no recognition—from anyone—even though the complexity, significance, and risks associated with their responsibilities have multiplied exponentially in the last decade.

Face it, we humans only understand the degree of our dependence on machines and systems when they shut down, data disappears, and systems stop delivering the information we need to proceed.

help-ms-office

The truth is, you can’t do anything intelligent today without solid, timely, reliable, and accurate data. It’s the oil of the digital age and the IT guys are the ones with their mitts on the meters, mechanisms, and measurements. IT infrastructure is the make-or-break gate, tool and tunnel through which everything critical in our data-driven world passes. If they don’t get it right, your business simply doesn’t get done. Relative to your competition, you might as well be in the Dark Ages.

The Tide is Changing

I’ve been spending a fair amount of time with IT teams and I’m encouraged to see a few positive signs.

  • A slowly growing acknowledgement of the importance of IT.
  • Recognition of the turmoil caused by under-investing and under-appreciating the IT team.
  • How neglect exposes your entire company to critical and severe problems.

But time only changes what you don’t change first. I tell all the IT people I meet that they have to be their own best advocates and change agents if they really want to see meaningful improvements and add real value to their businesses.

This is no easy sell. These folks aren’t really built that way.

Selling their ideas is the last thing they ever thought they’d be stuck doing. But the waves of change are coming—and you can swim with the tides or sit still and be submerged.

I’ve found three specific ideas and approaches that senior-level IT folks can focus on to make a serious contribution to the future of their firms.

connected-devices-ms-office

1—Be a Weapon, not a Shield

Playing great defense isn’t enough. The smartest IT players are extracting from the plethora of connected devices and turning the data they develop into “weaponized” information—decision tools that move their businesses ahead by providing better and more timely solutions, both to internal users and outside clients. What gets done is what gets measured. Help your team optimize every aspect of the operation with real-time decision support. That puts everybody in a position to correctly make the most critical calls—like when to double-down on winners and how soon to ditch dogs. Providing increased metrics and visibility is what the best data-driven IT strategies are all about. Money is just expendable ammunition. Data is power and guess who’s in charge of the data?

future

2—Focus on Future

Everything is about the future. We need bridges—not more bandages. The network is the name of the game. Help your team exploit the extensive resources outside of your own shop. Connect your company to critical partners, collaborators, and new technologies that are beyond your four walls. Do it securely, without sacrificing speed, accuracy or ease of access.

Make sure your people are an active and effective part of all the “social” conversations that concern your business because these new channels are changing the way we all confer, compare, communicate, and consume. Unless your products and services are part of the ongoing conversations and decision sets, when the buyers are ready to buy, you’re nowhere.

Holding down the fort isn’t enough; you’ve got to do more than simple maintenance because your business needs a vision and a path forward—not another Mr. Fix-It.

be-the-solution

3—Be In the Room Where It Happens

If you don’t ask, you don’t get. As a senior IT professional, step up and insist that your presence and your input is central to securing the best solutions for the business. If you’re not there, if you don’t have some skin in the game, if you’re just a spectator, then the changes that do happen will happen to you, not through you. It’s not always safe to step up, but it’s the smartest bet you can make. If you don’t believe in yourself and your abilities, who else will? And take my word for it; waiting never gets you to a better result. The world is moving too quickly to give anyone the luxury of time. Just like in racing, you need to understand that no one waits for you.

If it’s any consolation in these tough and troubling times, just remember that they’re going to blame you for anything and everything that goes wrong anyway. So, if you’re already walking on thin ice, you might as well dance.

howard-tullman-double-gulp-t

Howard Tullman is the father of Chicago’s 1871 incubator.

Read his bio on Wikipedia: https://en.wikipedia.org/wiki/Howard_A._Tullman

Check out his websites at http://tullman.com/

and http://tullman.blogspot.com/

Write him at 1871@Tullman

Image credits – Howard Tullman, Getty Images, MS Office

This is an excerpt from an article in INC.

http://www.inc.com/author/howard-tullman

Image credits – Howard Tullman, Getty Images, MS Office

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.
.Copyright © 2017 John Jonelis – All Rights Reserved
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HOW BAD IS IT

bobs-bad-poetry-swtby Loop Lonagan

Lotsa people keep tellin’ me good things about Bob’s Bad Poetry so I’m checkin’ it out. Yeah, yeah, I know what yer thinkin’. But there’s no law against an angel investor goin’ in fer high culture. That’s right, I like literature ‘n’ modern art too—’specially the abstract stuff. You got some problem with that, bud? Hey, me fodder and me mudder’s both Irish ‘n’ both poets, so’s I got it in da genes. Maybe you already figured that out from da way I talk.

And hey—dis ain’t just any poetry—it’s high tech—performed exclusively on da internet. Maybe it’s a startup company! Y’know how I like t’ invest in them. So I ask ya—lookin’ at da macro picture—with this lousy economy, dis goofy election, crime ‘n’ all—can it be that hard times once again spawn a renaissance o’ creative juices? Will demand fer artistic expression skyrocket like it done in da 60’s? Doncha wish you invested in Mick Jagger or Paul McCartney back then? Could it be that bad poetry is da next growth industry? Sounds like a winner t’ me! But how d’ya make a thing like that fly?

I sneak onto You Tube while da boss ain’t lookin’. He’s over dare, behind his big fat beat-up WWII air force desk tyin’ flies. Yeah, flies! Fer fishin’! Guy’s got da worst case o’ writer’s block I ever seen. He won’t notice me takin’ in a little culture. Don’t seem to notice nothin’ nowadays—unless it’s new fishing gear or maybe a Cubs game. Yeah, he put in a big-screen TV and DVR here at our corporate offices in the backroom of Ludditis Shots & Beer—just so he don’t miss a single inning.

ludditis-shots-and-beer-500

Our Corporate Offices

Whoa—look at dis site! This is fer real! Bob’s pumpin’ out a new poem every single day. Weekends too! I watch five of ‘em and find myself feelin’ real, real good—kinda grinnin’ to myself like I just downed a big mug o’ prime porter and lickin’ my lips. But beer costs money and dis poetry site is entirely free! Don’t cost me a single dollar! And only five minutes goes by! Yeah, deeze poems is all short—real short—just da way I like ‘em! So I subscribe, just to make sure I don’t miss any.

bobs-bad-poetry

Bob Badpoet

Can high culture be good fer a guy and this much fun too? Bob’s Bad Poetry. Looks to me like a creative genius maybe figured a way t’ use dis high tech world t’ make money—in an industry where nobody made money before! And if he’s revenue positive, dat’s what I call da businessman of today! If he’s selling shares, I’m in!

And if you don’t believe me, see fer yerself. Click here: BOB’S BAD POETRY

 

Please listen to poetry responsibly.

Graphic by Jennifer Otsuka

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2016 John Jonelis – All Rights Reserved

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APPLESAUCE AND APPLE

THE FINANCIAL MINDSET OF A NEW GENERATION

Tom McBride and Ron Nief

Light Bulb

The students who began college this past fall have a forty percent chance of graduating in four years, and a seventy percent chance of graduating in six. Having grown up in the Great Recession they can rarely take money for granted. They are more interested in money than in love, unlike their parents, who may have grown up as hippie advocates of free love during the far more prosperous 1960s.

But it’s possible that the old hippies are their grandparents: yep, that much time has passed.

They expect to graduate from college in debt, but they must also worry about what sort of job they can get to pay it off. They are all too keenly aware of how easily a sophisticated algorithm can replace human beings in the performance of even high-tech tasks. They know that jobs—maybe including one that has their name on it—can be outsourced cheaper overseas. Some of them are growing up in states like Florida where governors are pressuring universities to explain the financial prospects of their various major fields. They might love philosophy but decide to major in Geriatric Studies—perhaps the United States will run out of articles on Aristotle sooner than it runs out of old people living longer and longer.

Since they were about twelve years old the stock market has run a gamut of about twelve thousand points. The most precarious roller coaster at the nearest amusement park seems tame in comparison. They wonder if they will have the guts for investment in this sort of market when they aren’t risking whiplash in their necks (unlikely with the roller coaster anyhow) but cavities in their pocketbooks. Yet at their young age it’s silly to worry about the long-range future, right?

Still, they know they are coming of age in a world where pensions are becoming as infrequent as desktop computers, and where they may have ninety-five year old great grandparents still vacuuming up Social Security and Medicare. They’ve been told that a member of the generation just behind them may live to be 140 years of age. Where will the money to sustain so many geezers come from? Well, it’s too far off to panic now.

The financial hero of their generation is not old Bill Gates but young Mark Zuckerberg, who came up with Facebook. They dream about formulating some high-tech enterprise that will make billions of dollars for them, too. But what might it be? Replacing passwords with high-tech facial identifications? Nah: it’s too late for that—the research is already underway. When they were having their baby food applesauce, Apple seemed to be a company that had seen its best days. Well, look at how that turned out, so for them fantasies of high-tech riches spring eternal.

Rather anxious about money, they are frugal. There’s only a six-in-ten chance they have a credit card. They go debit, thank you. They’d rather have a new tablet or phone than new car. Autos are more expensive and not so necessary. They know a lot more about chips than about carburetors. They tend to congregate after graduation in cities with public transport, and they are a keen ride-sharing generation.

Besides, with Skype who needs actually to go there? One thing they don’t expect if and when they do get a job: lots of face-to-face conversation. It wouldn’t surprise them to learn that they will spend most of their working careers in their apartments—and of course in cyberspace.

They may become the first generation for which there will be scant old-age welfare, and yet also the first for whom it is largely unnecessary to leave the house for anything. Graphic virtual vacations to Venice may be on their way two decades hence, and they’ll be at lot cheaper than going there.

During their lifetimes the price of a first-class stamp has risen 65%. Maybe this has something to do with decreased demand for them. Theirs is a generation that rarely “writes” letters placed into envelopes with stamps attached. Going to the P.O. is hardly a ritual for them.

In their lifetimes K-Mart and Target have always been going in opposite directions. They expect similar corporate unpredictability in a world where popular websites can change every five minutes. They do not expect to stay with one company for long.

They hear about income inequality constantly and may cynically conclude that a rising tide lifts all yachts. Yet both the libertarian Republicans, who appeal to their sense of entrepreneurship, and the progressive Democrats, who promise to close the gap between rich and middle-class, appeal to their economic instincts, however unformulated as yet.

The one thing they should not give up on is education. One study concludes that if every high school student had the skills of every college student, the former would make $28,000 more per year. A Harvard study says that having just one good teacher for only one year can increase lifetime income by $80,000. In a time of gyrating stock markets, rising inequality, and scary high-tech chaos in the job market, it is easy to become cynical about an assigned term paper on the Thirty Years’ War.

But it would be foolish not to complete it, and get a high mark for doing so.

Tom McBride and Ron Nief are co-authors of the annual Mindset List® and of two books: The Mindset Lists of American History (Wiley, 2011) and The Mindset List of the Obscure (Sourcebooks, 2014). For their Financial Mindset List for the Class of 2018, go to http://themindsetlist.com/2014/10/financial-mindset-list-class-2018/

Photo credits – MS Office

Adapted from News From Heartland – the Journal of the Heartland Angels

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2015 John Jonelis – All Rights Reserved

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HAWKS

Hawk Logo_JAJ0561by Mark T. Wayne

“Quit talking business!  This is important!”  A shocking pronouncement coming from one’s employer!  I go mum.  We sit behind thick glass, watching the Chicago Blackhawks clobber the Anaheim Ducks in the final game of the series.  The Hawks will win this game and go on to the coveted Stanley Cup.  That is correct, sir—an opportunity for a third championship in just a few years!

I comply with Jonelis’ rude order.  I do it because I sympathize with his lack of discipline in this arena of violent chaos.  And of course, like most men, I am quite prepared to revive my boyhood when the opportunity arises.  Certainly, there are subjects other than business worthy of utterance.

Mark T Wayne

Lonagan is at my right, constantly jostling, constantly booming, “Did ya see dat?” shouts the execrable fellow.  “He jammed da butt o’ his stick right into dat poor sap’s kisser.”  Permit me to note that Lonagan is able to perform a multitude of tasks simultaneously:

  • He shouts expert opinions about every detail of this free-for-all.
  • He gnaws great hunks from greasy bratwurst.
  • He swills beer from a paper cup with great skill.

I have never before witnessed a hockey game.  I attempt to test its worth with my closest scrutiny, but find it difficult to comprehend my editor’s rationale—dragging me out here to write about six bearded hooligans with faulty dental work beating up six over-muscled goons.  How can I stay abreast of the Chicago private equity action?  Nothing of impact happens in California.  Most of their financiers chase after the same-old, same-old mobile apps.  But I agreed not to talk business.

John thru the glass_JAJ05618B

Against the glass

Jonelis and Lonagan both jump to their feet and beer sloshes onto my fine white flannel suit.  “Goal!” they scream in rough unison, and the stadium erupts in opposing voices of victory and outrage.  Jonelis pounds my shoulder.  “Did you see that?  Did you?  A rebound—that’s the way to score a goal—always crowd the net!”  I am perplexed.  How can he possibly assume that I did not witness the occurrence?  Does the man think I am blind?  We are right here in the front row of the roaring crowd, watching this madness with an entirely unobstructed view!  A gentleman named Toews, who I am told, for some unknown reason, pronounces his name Taves, just flung a small black object into the goal by artful use of a stick.  I saw the act, as did every other bloodthirsty spectator in this crowded coliseum.

Meanwhile, Lonagan gesticulates broadly with both arms, then breaks into impassioned laughter that squeezes out a few tears.  He reaches across me and punches Jonelis square on the shoulder.  “Dis is da best!  First class airfare.  First class box seats!  I kin hardly believe I’m here!  What made ya ask me?”

Jonelis seems momentarily at a loss for words.  He grins sheepishly, then admits in a somewhat lower tone, “You know how to throw a party—I don’t.”  He clears his throat.  “After we win this game, I want to celebrate.  I want to do it right.”

I catch a glint in Lonagan’s eye.  “You want I should pour it on industrial strength?”

A wan smile.  “That’s the general idea.”

“Yer on!”  Lonagan grins like a slathering bulldog.  “What about old whisker-puss here?”

“He’s covering the game.”  Then Jonelis addresses me.  “Get the article out tonight, will you?”

I care not about a drunken felon denigrating the quality of my mustaches, but the second insult inflicts its sting.  My host reduces my status from guest to employee.  Such is the level of respect shown an accomplished novelist.  A writer is without honor, sir!  (I secretly resolve to delay the entire project for several days.  I, too, enjoy the Lonagan fellow’s raucous celebrations.)

Two huge bodies in bulky uniforms slam into the glass inches from my nose with an impact that rattles the structure of the enclosure.

I sit up and take notice.

Pinned, the Hawk reaches under an inadequate face guard and grabs the nose of the angry Duck, who bars his stick against the Hawk’s hairy throat.

A whistle!

With a bleeding nose, the Duck skates to the penalty box.

In the ensuing power play, I note amazingly deceptive and expert stick handling.  Fascinating!  Other members of the team, entirely out of the action of play, perform acts of sadistic menace upon each other’s persons.  These go unnoticed by the officials, otherwise engaged.  As an organ plays magnificent chants, I wonder how thugs learn to skate with such skill.

Toews scores another goal and I am wearing flecks of Lonagan’s mustard.  Only a few minutes have transpired since the splattering of beer—inadequate time to allow my suit to dry.

I stand and cheer!  “Hooray!”

This represents an important lesson!  Yes sir!  How is it that I have never before attended such an event as this?  And I speculate on the odds of bribing a season ticket from some luminary with the only real weapon I own—the promise to not write about him.

Read KIDNAPPED

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2015 John Jonelis – All Rights Reserved

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THE HIDDEN DANGER IN YOUR DATA

Howard Tullman B&Wby Howard Tullman

From the Journal of the Heartland Angels

Today, entrepreneurs have tools and technologies to collect, monitor, and document more data than ever before. You’re likely swimming in data, since customers leave a trail of it everywhere to be captured and analyzed in real time. As I’ve often said, in business, what gets measured (and acknowledged and rewarded) is what gets done. I haven’t changed my belief about that, but I have come to see that we are putting too much emphasis strictly on the numbers. Numbers don’t lie, but they never tell the whole story. They can only take you so far before they top out and you need something qualitative and experiential to get to the right conclusions.

Pie Chart Hesitation

Peter Drucker’s dictum “if you can’t measure it, you can’t manage it” has created a whole generation of leaders so focused on perfecting their company’s processes that they lose sight of the company’s purpose. I hear managers all the time talking about the need to get more work out of their people when they should be trying to get the best work out of them. Optimizing (not maximizing) the team’s output is what matters most to the ultimate success of a business. Working smarter and more effectively—not necessarily longer or harder—is how you ultimately move ahead of the competition.

You need to be exceedingly careful these days that you don’t let the ease of access and the ubiquity of massive amounts of quantitative performance data cause you to over-emphasize the math and measurements—and thereby lose sight of the far more important qualitative attributes of what’s going on. Not everything is easy to measure or quantify, but that doesn’t make these things less important; it just makes your job as manager tougher. But when you get so wrapped up in the measurement process that it becomes the goal itself, it loses its effectiveness. It’s easy to confuse movement with progress, but not all motion is forward. And lots of activities that run up the numbers aren’t remotely productive. Measuring is easy; measuring better is tough.

When you let the numbers drive the train, you give up two important advantages that are critical to your success. First, the goal isn’t to be the thermometer; it’s to be the thermostat. It’s not about measuring the heat; it’s about generating and controlling the heat. You don’t want the analytics to lead you; they’re a useful benchmark and a guide for course corrections, but it’s your job to set the direction and move the business forward. Second, when you get so focused on specific and concrete financial results (sales targets, growth rates, etc.) and you direct all your team’s energies toward getting as close to achieving those numbers as possible, you actually limit your ultimate upside because you lose the ability to think and see beyond those immediate goals. When a game-changing opportunity arises or a quantum shift occurs in your sales prospects, your team will likely be so heads-down chasing those numbers that someone else will come along and grab the new brass ring.

Black Hole of Data

Here are three principles that have helped me resist the temptation to get too caught up in the numbers—and focus on what truly matters at my company:

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Elaboration is a form of pollution

Tell your team to keep it simple. No one gets paid by the page, and shorter is almost always better. I’ve found that when people expand and extend their plans, proposals, and presentations, there’s a high degree of likelihood that they’re concerned about the value of their pitch, so they try to bury it in a boatload of facts, figures, charts, citations, and everything else that just hides the hard truth. It’s better for everyone when your people put things right out there—front and center—and take their medicine if that’s what’s called for. If you torture the numbers long enough, they’ll say whatever you like, but that’s not any way to get to the truth or the right result.

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Not everything is worth doing well

Tell your team that everyone’s always on the clock. There’s an opportunity cost associated with everything you do, so choosing what not to do (and how extensively to do the things you need to do) is critical in any startup which has scarce resources and time. Some things just don’t warrant the full-court press, and it’s important to make sure that everyone knows that that’s okay with you. Other things shouldn’t be done at all, and you should never try to do things cheaply that just aren’t worth doing. It’s never easy to turn people down or say, “No,” to marginal choices, but it’s part of the job.

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No one’s ever measured how much the heart can hold

Ultimately, the value of the critical connections your people make every day with your clients and customers can only be roughly approximated by even the best math. But it’s those daily personal and emotional interactions with your empowered employees that build crucial engagement as well as the lifetime value of those buyers for your business. You need to give your team permission to do what’s best for the customer in the moment that the opportunity arises. If they need to consult a rule book or have a calculator handy to do the math, they’ll lose the value of the moment every time. The best businesses don’t worry about the number or sheer volume of moments–they work to make each moment matter.

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Howard Tullman is a philosopher, investor, and Chicago entrepreneur.   For more from Howard, go to

http://tullman.blogspot.com

www.1871.com/

Read his bio: http://tullman.com/resume.asp

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This article appeared in the following publicatons:

News From Heartland  http://news.HeartlandAngels.com

INC Magazine  http://www.inc.com/

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Graphics: Getty Images, MS Office, H Tullman

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2015 John Jonelis – All Rights Reserved

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