Category Archives: Venture

TAKE YOUR FOOT OFF THE BAG

John Jonelis

I’ve asked it before, “The way you conduct business—is it meaningful to those left behind?”  Is it? 

I’m here at the Levy Entrepreneurship Group, talking with some of the most brilliant business minds in Chicago.  This group’s been meeting for over 60 years.  It’s the genius of Joe Levy, the prolific entrepreneur, investor, philanthropist—the son of a south Michigan Ave car dealer.  Joe was an endless entrepreneur—constantly learning, constantly experimenting—the quintessential gentleman who gave everybody an at-bat—who spoke quietly but directly and told the truth as he saw it.  He pushed people off the bag“You’re lousy at this.  What are you good at?  Contribute.  Help somebody.”  People found inspiration and hope.  Never a disparaging word about Joe.  “If you don’t have a satisfied customer, you’re compromising your future.”  He was the original automobile mega dealer, angel investor, entrepreneur, and philanthropist.  “God put me on this earth to produce, not to consume.”  Joe Levy is dead at 92.

 

Joe Levy by Anne Elisabeth Hogh

Now I’m sitting with his group—face to face with his family.  We hope to make them understand why we all loved our Saturday morning meetings—why Joe loved them.  The moderator opens the meeting:  “Welcome to the special clubhouse we’re in.  This is a magical place.”  Then we each take turns telling stories to the family:

The Levy Group by Joel Berman

Entrepreneurship Stories

  • Joe told me, “Take your foot off the bag.” It was a constant voice in my head.  Every time I thought, “Should I start this business that I really don’t know much about?” I’d here that phrase, “Take your foot off the bag.” Sometimes I might take it off a little bit too much.  But I would never be able to start what I’ve done multiple times without that voice in my head and without the support I’ve had from the group.

Get your foot off the bag

  • Joe and I were at the Bryn Mawr Country Club having lunch. Outside the window was this pond with two swans and during the meal, he made a point of the swans, saying, “Aren’t those swans beautiful?”  I said yeah.  Then he did it a second time.  And a third time.  After the meal, we took a walk right up to that pond.  And he said it a fourth time, “Aren’t those swans beautiful?”  I’m like, “Yeah Joe, they are, but what’s your point?”  He said, “Those swans are rental swans.  They’re a business.  I know this guy.  He rents them to all these country clubs.  It’s a beautiful business.”  So the guy puts them out in the spring and he picks them up in the fall and he takes them somewhere to feed them all winter and breed, and then he brings them back again.  It’s got no competition.  Who even would know it exists?  But his point was not only that it was a great business—it’s that it was a simple business in a niche.
  • When Joe found out that I was running my business from my home, he said, “No, you can’t do that.” He said the building next door was empty. He had bought it to store the Levy Center furniture, so we moved in.  That was a big help for us.  A year later, he sat me down.  He said, “Now buy the building.”  The timing was right, so we did.
  • This is the honorary Joe Levy tie. They named a street after him in Evanston where the dealership was.  Following the street dedication, we got ties, and no better day to wear it than today.

The Joe Levy Way Tie – Photo by Rachel Kaberon

  • I recall when they named the street after him. As usual, everybody gave elevator pitches at the start of the meeting.  When it was time for Joe’s introduction, he said, “I’m Joe Levy and now I’m a street.”
  • Twenty years ago Joe wrote a play about internet funerals called Cyber Mourning. It was at the Northlight playhouse in Skokie.
  • When I first met Joe, he asked me what I wanted from him. I knew he had so much to offer a guy like me—a poor immigrant from Greece.  Knowing that people always ask Joe for investment, I thought about his question for a second or so and responded, “Your friendship.”  What I received in return was much more than I could have imagined or hoped for.  He became a friend and a mentor—a man who could address any business issue, and some personal ones as well.  The other thing that we talked about was Joe’s faith—both of our faiths.
  • Not only did Joe teach us the art of being a gentleman—which is very, very hard to do—but he also taught us that entrepreneurship is endless. We took Joe’s words of wisdom, and put them in a placard.”

Plaque presented to the family – Photo by Rachel Kaberon

 The Levy Group

  • The group to me was a way to get working on Saturday without working on Saturday—to get my mind working as an entrepreneur.
  • I remember just 20 years ago coming to the Levy Group and feeling like it was a continuing business education. I call each Saturday a class.  In those classes we talked about business but I also learned about life, loving, giving, and family, and sometimes even death.
  • The ultimate benefit of this group was becoming a ‘Friend of Joe.’ That meant you were part of a group that spanned many a decade and you became aware of the wisdom that came from the experiences shared through the years.
  • I’m having lunch with Joe one day and make a comment to him. And he looks back at me and says, “Do you have a twin brother?”  So I say, “No Joe. Why do you think I have a twin brother?”  He looks at me and says, “Because no one person could be that f’n stupid.”  I use that line all the time today.

Joe in his Flintmobile – Joe Levy Collection

Joe’s Automobiles

  • One Saturday, he brought me into the garage to see his Flintmobile. A full size Flintmobile!
  • He was first at multi-dealerships. Back when Joe was in car dealership, he had eighteen.  People have one, maybe two.  He was the first one to have many.
  • Car dealerships wouldn’t give a woman the time of day, even if she was with her husband. If she wasn’t with her husband, they took total advantage of her.  Not Joe.  Joe was courteous at all times, and he built an incredible business.  He became the largest Buick dealer in the world.  At one time, he owned 18 dealerships.
  • Joe hired a clown for the dealership to entertain the kids. The clown also spied on the spouse.  What she wanted was crucial to the deal.
  • When Buick sold a model called the Wildcat, Joe made sure the Northwestern coaches all drove them.

Joe Levy – Photo by Nathan Mandell

Life

  • One day Joe heard on the radio that they were going to auction off a rare stamp in New York. He gets on a plane, goes to New York, buys the stamp, and before he gets on the plane to come back home, he called Carol and said, “Hey, I’m gonna be late for dinner.”
  • The first thing that will come to my mind when I’m at the racetrack or around horses is Joe Levy. He used to take us there as kids.  He gave us each an envelope with Win, Place, and Show for every single horse.  That was one of Joe’s ways of making sure everybody was a winner.
  • At my daughter’s wedding, my father-in-law took a scissors and snipped away Joe’s tie. Joe thought a moment, then went over and he cut my father-in-law’s tie off.  It was like a Laurel and Hardy thing.  So there they were, the whole evening, with these ties that looked sort of like bow ties without the bows.
  • We had a horse race in the parking lot that included questions about Joe that only the regular group could answer. We had them on silks—sewn numbers on the horses.
  • He gave me an appreciation that family was not just flesh and blood, and giving was not all about money. Time and caring in helping others were way more important in your life, in your learning.
  • Most of the people in cognitive behavior haven’t caught on yet. And all these theorists—they just haven’t caught on to how important kindness and helping and giving are to being able to be an entrepreneur.
  • And if I look back at Joe, what I think about is what he left behind, and that is teaching people how to be good human beings.
  • My dad loved this group. This group was his favorite thing, I think.  All week he looked forward to it—and just so proud of where everybody had come from and gone to.  So, I just—I don’t know what to say—this is just so moving.  So thanks, everybody.

So I ask you, “The way Joe conducted business—is it meaningful to those left behind?” 

 

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 © 2019 John Jonelis – All Rights Reserved
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CAN’T KEEP A SECRET

written by John Bueter, 

comments by John Jonelis

Wow!  Who can resist this?  Take a look-see at this invitation from John Bueter, famous fly fishing personality. 

I’ve printed the letter below along with recent local photos so you can see what’s going on over there.  This is the perfect getaway for a Chicago entrepreneur! Check it out:

The ONE, The ORIGINAL, The ONLY 

SALMON CAMP ‘18

A Tradition for 28 Years!

September 28-30

Well, kids, it’s THAT time of year again!  The excitement of the season is overwhelming, as the River comes alive with HUGE fish. Our target species is the mighty King Salmon in the wild and scenic Pere Marquette River.  This area is FLY RODS ONLY.  No spinning gear.  No snagging.  No treble hooks welded to spark plugs.

Last season’s fish weighed in heavier than normal.  This year they’re even LARGER, with documented catches off shore of 40+ pounds!  Bring your big guns, Kids!  We’ll be hosting festivities again at the Bueter Compound.

The 24 hour Campfire tradition continues, providing the backdrop for the usual hijinks, exchange of regional information (mostly lies), recounting of the day’s adventures (again, mostly lies), and permanent cementing of friendships.  Campers are encouraged to use the showers to control the fly, bear, and buzzard problems.

The spirit of mentorism and camaraderie will flourish once again.  Proven fly patterns, proven knots and rigging—all demonstrated.  Maybe some new stuff, too.  Be sure to bring your tying gear—you’ve got things to offer and learn!

We’ve manned the barbeque pit. All the usual suspects will again prepare a super-duper-up-north dinner Saturday night, and a breakfast that will revive the near-dead.

There’s always room for newbies—no matter your level of experience.  Remember the founding concept of Salmon Camp: “This is too much fun to keep to ourselves!”

Lookin’ Forward to fishin’ with y’all !!!

Your Master of Salmon Mayhem,

John Bueter

Is that a compelling invitation or what?  Wanna go?  Well, yeah!  I get to chase 40 lb salmon with a fly rod? Who wouldn’t want a thrill like that?  Let’s go early! 

I particularly like the legal jargon on their “catch and release” form:

“…Illegal substances, firearms, and spinning tackle are not welcome in Camp…Camp “crashers” will be found, drawn and quartered, and their hides nailed to the fence so as to discourage others.  This Camp will go on rain or shine—NO WHINERS.  We encourage good stewardship of our resources, and will not tolerate scofflaws.”

Never fly fished before?  Neither did the gal who caught a 40 lb Chinook last year.  Didn’t stop her.  Oops—guess I just can’t keep a secret. 

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Here’s the place:

  • Bueter’s Salmon Camp 3200 South James Road, north of Baldwin, MI 49304
  • RSVP John or Rhonda Bueter via phone, ‘e’mail, or snail mail, so we don’t run outa bbq sauce & eggs.  Office 231-745-3070, Cell  248-345-1402,  j.bueter@sbcglobal.net , Website www.cloud9baldwin.com
  • Cost for Salmon Camp ’18:   $135

Hey, that’s a bargain!

Pack this stuff:

  • Michigan all-species fishing license
  • Big Dog Fly rod (8-9-10 wt) a spare is not unwise
  • Quality Reel with super-smooth drag
  • Sink-Tip Flyline
  • 12 pound tippet, or higher
  • Lots and Lots of flies (Note: max size #4 single point hook)
  • Waders, Boots, Wading Staff
  • Hook Hone, Nippers, Pliers [Hemostats are worthless here]
  • Big Landing Net (17 inch handle max)
  • Polarized Glasses
  • Flashlight, Lantern, Headlight [Important!]
  • Rain Gear, Appropriate Clothing
  • Tent, Sleeping Gear, Personal Stuff
  • Don’t Forget yer Bubba

Read: ALIEN ABDUCTS FISH,

THROWS FISHERMAN BACK

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 Read: TOO MUCH FUN

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Photo Credits

Various photographers as posted by John Bueter on Facebook, just prior to the event.

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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 © 2018 John Jonelis – All Rights Reserved
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Filed under angel, angel capital, angel investor, chicago, Chicago Ventures, Entrepreneur, Entrepreneurship, Events, Fishing, fly fishing, Heartland Angels, Hyde Park Angels, Impact Engine, Innovation, Innovation and Culture, investor, Kellogg, MIT Enterprise Forum Chicago, MITEF, salmon fishing, Startup, startup company, The City, the great outdoors, vc, Venture, venture capital

NORTH STAR

by John Jonelis

We catch 647 fish here in 4 days.  On average, that’s a pike every 2.8 minutes.  This place is wild, unspoiled, perhaps like this continent a thousand years ago and summer feels like spring.

Huge northern pike.  Gorgeous scenery.  What man can resist a fishing expedition?

I am visiting my favorite startup company—North Star Executive Outpost on Knee Lake, Manitoba.  It’s a paradise—a northern pike factory in the breathtaking Canadian wilderness.  No roads.  Accessible only by air.  Just one lodge on a 50-mile-long stretch of pure water where God and God alone stocks these hearty fish that grow to such prodigious proportions and feed so ferociously.

Six hundred forty seven fish.  Don’t believe me?  I assure you, we keep an accurate count.  Got to.  Boat bets.  Loop Lonagan and Jim Kren will skin me alive for lying about a thing like that.

On day #2, a pike manages to hit my lure before swallowing its previous meal and yes, I count two fish caught on one cast.  The bite is on!

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Shore Lunch

Every day we pause to catch a few fat walleye and then land our boats at a likely island to participate in a great Canadian custom—shore lunch.  The guide cuts wood, builds a fire, cleans, cooks, and serves the fish.  My favorite restaurant of all time.

So many wonderful ways to cook fresh fish.  Beer batter walleye, honey-garlic walleye, traditional walleye with all the trimmings.  A different dish every day, followed by desert.  If you have not yet experienced this wilderness feast, you are in for a treat!

Nothing tastes better than fresh walleye.  It’s a delicacy elsewhere in the world, but nowhere near as good as walleye up here.  These are fresh from of a cold clean body of water—live until cooked and eaten.  Up here, they grow big and thick, with luscious and flaky meat.  I have room for just one.

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Hunting Pike

We spend our days on these pristine waters in open boats, making long casts with stout rods, our heavy lures retrieved at speed.  Attacks by northern pike are sudden, savage, and frequent, with water churning at line’s end.  To our surprise, walleye also strike our lures with tenacity and vigor.

But on day #3, the air grows unusually warm for this far north, and the bite slows.  I put away my heavy tackle and slip out a fly rod.  We glide into a calm bay, looking for big ones sunning and digesting an afternoon’s feed.  We are hunting them.

My guide spots a monster pike 50 feet away and I cast a 10-inch fly at it.  It refuses my offering and paddles away ever so slowly.  “We’ll find it again!” says my companion.

And we do.  I tie on a bigger fly (it looks more like a mop), cast it past this fish, and draw it into the kill zone, then twitch it to entice the lounging lunker.  As I watch, the big fish gradually turns toward my bait and lazily moves on it.  With great care, enormous jaws close over my lure.  I set the hook hard, feel weight and life at the end of my line, and see the huge pike pull against me.  Fish on!

A shiver runs down my shoulder.  Then the big pike charges our boat and I strip line fast, spilling coils around my feet, trying to keep a load on my rod because any slack and that barbless hook can easily fall from a bony jaw.  The pike continues to charge and swims directly under the boat.  Plunging fly rod into water, I work around the bow.  The pike continues to run in the same direction, taking line at will—line that burns through my grip until it spools off the floor, pulls taught, and tugs at the drag on my primitive reel.  The reel gives me an advantage.

Powerful shakes and malicious tugs, then the pike’s 25 pounds rolls in my leader, but hook holds fast and this northern pike finally goes to bottom, still as rock.  The water is clear in this shallow bay and I see my fish and keep pressure on.

Eventually the big pike concedes, and perhaps more out of curiosity than fatigue comes to our gunnels.  My guide and I both gasp. There’s always something awesome about a thick, powerful fish measuring in the mid 40’s.

We net the pike, snap a quick photo, and the trophy goes right back in the lake to swim away and fight again. I can barely express the draining satisfaction of hunting, battling, and landing a pike this big.  Maybe I’ll catch him again next year.  Then primal shouts, a congratulatory handshake, and I relive the fight in my mind all the many miles back to our lodge.

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Revival

After a hard day fishing, this old man needs food and rest.  Management proves courteous and professional and refuses to let me suffer.  We sit around our beautiful log cabin in blissful comfort, sipping beer and telling stories with suitable embellishments while eating steak, ribs, and other satisfying fare.

Up here, summer nights don’t get entirely dark.  By eight o’clock in the afternoon, we’re playing at the pool table, shuffleboard table, and poker table.  Then we shower under deliciously hot water and sleep soundly under warm quilts, on firm and expansive beds.

On the appointed day, we board our bush plane at the lodge’s private landing strip and fly home for dinner.  If you live in Chicago, a true wilderness isn’t really that far away..

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THE PLACE:

North Star Executive Outpost

http://northstarresort.ca/

Check for a cancellation if you want to book this year.

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VERIFY MY NUMBERS:

Fish frequency calculation:

3 fishermen, 4 days on the water

less 1.5 hours/day for shore lunch

= 30 hours fishing and running around in the boat.

30 hrs / 647 fish = avg 2.8 min per fish caught

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Photography by John Jonelis

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READ “WILDERNESS”

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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 © 2018 John Jonelis – All Rights Reserved
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Filed under angel, angel capital, angel investor, Canada, Cleantech, Entrepreneur, Entrepreneurship, Entrepreneurship and Politics, Fishing, fly fishing, Jim Kren, loop lonagan, new companies, pike fishing, Startup, startup company, vc, Venture

CEOs THAT SELL

Why Startup CEOs Still Have to Make Sales Calls

by Howard Tullman

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It’s not your strength, or maybe not even what you enjoy doing. But being there to close the deal isn’t something you can simply hand off to the sales team.

At what point can a CEO turn sales over to professional salespeople?  Before that can happen, the company has to achieve two foundational milestones:

  • You need to know exactly what you’re selling—by doing it over and over again (and not as a one-off).
  • You need to know for certain that others can sell it consistently.

That only comes with the maturity of your product/service.  Until it reaches that point, stay in the field and keep selling.  Your product is still being developed on the fly and continually redesigned/reconfigured to better suit the real requirements and demands of customers.  The fact is, ultimately only you can make the critical design and development decisions and you’ll do a much better job of that if you are hearing it directly from the end users and not from a bunch of whiny salespeople.

I’m seeing more and more startup CEOs who discover way too soon that they don’t like the wear and tear, the travel, and the rejection that are all crucial parts of selling a new product or service.  So they retreat, thinking they can run their businesses while they’re sitting on their butts behind a desk back in the office. That’s not how this game works; that behavior is a formula for failure. You may not be an extrovert.  You may not even know the technology that underlies your business as well as half the other people in the company.  You are, however, the boss and today that fact alone means a lot, at least to the people who make the final purchasing decisions.

Remember—buyers are typically older than you, they grew up in strictly hierarchical systems where titles count, and they need to be made to feel important and respected if they’re gonna sign off on your deal. No offense to any of the members of your team, but customers don’t want to deal with the monkey—they need to see the organ grinder. That’s you. And they want you for all the obvious reasons:

  • People don’t really care how much you know until they know how much you care. Show up. It’s important.
  • Startup staffs are notoriously scattered and hurried—lacking focus and attention to detail. Customers want to know that you personally are connected, paying attention and directly engaged with their business, their concerns, and their problems.
  • Clients want to hear it from the horse’s mouth. Not second hand. They want commitments and assurances from you. Everybody knows that the sales guys will say anything and promise them the world.  They need assurance that you will stand behind your product or service and make good on your promises. The buck always stops with you.

Product Maturity

Once your product/service reaches those critical milestones, it’s time to kick yourself upstairs and focus on other things. I encourage CEOs who find they spend too much effort selling to optimize their time.  I suggest that they find competent sales managers and others who can tee up just the right meetings for them—not opening meetings which are a dime a dozen, but closing meetings where the deals get done.

Finding sales meat-eaters to fill managerial roles isn’t easy; they are the hardest hires for any startup, but it’s absolutely critical to have them onboard if you’re going to build a viable business.

When your startup is hiring talent, you need to avoid certain categories of salespeople. For example, stay away from what I call empire builders.  There’s a whole generation or two of sales management types whose experience comes only from large organizations.  I have found fairly consistently that they are the wrongest guys possible for a startup because they grew up in a system where they measured their value and their success by the sheer number of people they managed rather than the results that those folks delivered. Nothing kills a young business faster than bloat and bureaucracy and having too many sales people sitting on their hands and not selling is the worst kind of poison. So be careful what you wish for and who you hire for this critical job.

There’s no more challenging job than being the CEO. You are responsible for the health of each part of the organization and the trajectory of the entire venture.  Stay in the sales loop until your product/service matures.  Then focus on closing deals.  Customers need you to be there—to say what you’ll do, and do what you say.

 

 Howard Tullman is the CEO of Chicago-based 1871, where 500 digital startups are building their businesses every day. He is also the general managing partner of G2T3V and Chicago High Tech Investors, both early-stage venture funds; a member of Mayor Rahm Emanuel’s ChicagoNEXT Innovation Council and Governor Bruce Rauner’s Innovate Illinois Advisory Council. He is an adviser to many technology businesses and an adjunct professor at the Kellogg Graduate School of Management.

@tullman

This article is an excerpt of one that appeared recently in Inc.

Image Credits – Getty Images, MS Office, Howard 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. Please perform your own due diligence. It’s not our fault if you lose money..Copyright © 2018 John Jonelis – All Rights Reserved
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Filed under 1871, angel, angel capital, angel investor, App, big money, Chicago Ventures, Entrepreneur, Entrepreneurship, Innovation, Innovation and Culture, new companies, Relationships, Startup, startup company, vc, Venture, venture capital

GET YOUR OWN ‘BOTS

OR RISK BEING PUT OUT OF BUSINESS BY THEM

by Howard Tullman

Don’t fear the bots. They’ll free your company from unprofitable and tedious work. Yes, some jobs are going to be displaced. But the ones that are left and the new ones the bots will create will be more productive and way more interesting.

I realize that it’s a little frightening for many of us when we hear some of the intimidating statistics about headcount reductions in more and more industries that are being driven by the growing deployment of what we’re generically calling “bots.” But I don’t think bots are so bad for business. I realize that, while the major shifts are just beginning, we’re already talking about the displacement of thousands of analysts and adjusters in the insurance and finance industries as well as hundreds of highly-paid attorneys in sectors of the banking business. The sooner you figure out how to incorporate and deploy these little time- and money-savers, the better off you and your business will be. And that goes for businesses of all sizes.

Excepting some of the folks who will be replaced by these efficient and energetic little wonders, it will be a break for the better. Honest. No one in their right mind will miss any of the boring, repetitive and utterly useless tasks that are a painful part of too many of our jobs. If your tasks can be reduced to a set of instructions and rules that need to be repeatedly and flawlessly executed, we’ll soon enough find a program or a machine to do that work better, quicker and more accurately than you– and to do it 24/7 as well. No one argues with that part of the equation. We’d all love to be freed up from our chores and be doing exciting, creative and constructive work.

The rub comes in the rest of the story – the ratio and the scale of the jobs being eliminated as compared with the new jobs available to replace them. To quote Bruce Springsteen, in My Hometown, “Foreman says these jobs are going boys and they ain’t coming back.” Take a look at the hospitality business as a simple example. Airbnb is closing in on Marriott’s $42.7 billion market cap (it’s already worth about $10 billion more than Hilton), but the employee headcounts of these companies are in different universes. Marriott employs more than 225,000 people, Airbnb about 3,500– yes 3,500 employees. And I’m not just picking on Marriott. Hilton has about 170,000 team members. You can argue that some of those people are doing different and allegedly irreplaceable functions. But in the end, the real question is whether the customer/guest’s needs are being more than met. None of Marriott’s guests really cares about whatever it is that fills the day for those extra 400,000 workers. I’m not even sure that most of their managers know what makes up their day.

When you couple the substantial reductions in the workforce with the readily-demonstrated and clearly impressive gains in productivity and lower operating costs that we’re also seeing, it’s clear that there are major bumps in the road ahead and significant disruptions in the ways business has traditionally been done. This is especially true because the vast majority of these changes are neither complicated in regard to the technologies nor costly in terms of the required capital. Low-hanging fruit abounds. JP Morgan Chase reports eliminating more than 350,000 hours of legal document review time per year by employing bots and smart contracts.

When I use the term “bots,” I’m not talking about anything as challenging as truly intelligent agents or even anything autonomous. I’m talking about simple lines of code– and not that many– that can successfully execute instructions and directives or commands that are well-established and documented by humans. I hate to call any of this stuff artificial intelligence. At best it’s augmented and extended intelligence. The intelligence being extended is ours; the folks being augmented are us. We’re talking about systems and tools that will help us perform routine tasks with minimal supervision or ongoing direction, and essentially automatically, upon request. Every business still has some of these pockets of obvious inefficiency and it’s mainly ignorance of better options and inertia that keeps them from realizing immediate improvements and significant cost savings. Your business does too, and the sooner you do your own audit and analysis, the better off and more competitive you’ll be. (See Use a Mirror to Mind Your Own Business First)

There are opportunities everywhere, but the sweetest spots for almost any business seem to fall into four recurring buckets. Forget about chatbots and retweeters. Focus internally first where you can get the biggest bang for your buck and where you can ride on existing rails. The people providing support and resources in this emerging space are few and far between right now, but they tend to target these critical areas: HR, Finance, Operations and Sales. I know, you’re already saying, “well duh, that’s just about the whole business”, so trim it down to HR and Finance and start there. Eat the elephant one bite at a time.

One of the best providers is an 1871 alumni organization called Catalytic/www.catalytic.com/> whose tagline says it all: “Do more of what you love, and less of what you don’t.” They are smart enough to understand that they are in a “rinse and repeat” business so that each time they build a new process bot they create the ability to provide a version of that same solution to thousands of other businesses more efficiently, more rapidly, and less expensively. They talk about concrete client results delivered in days, not months or years.

And, to be successful, you need a plan that’s ongoing and iterative and that’s always targeting and attacking the dumbest things you are doing. In many cases, it’s an approach that follows the same basic steps: digitize and dump the paper; speed up the flow and the inter- and intra-departmental handoffs; automate as many steps in the process as possible; measure the results; and do it again. It needs to become a habit and a mantra of your business—always moving to raise the bottom and improve the average.

It’s interesting to watch the adoption cycle as well. It’s both competitive and contagious. The more you do; the more your people will want to do and, interestingly enough, you’ll have them bringing suggestions and ideas to you for next steps–forward integrations into other programs like Word and Excel, for example—instead of sitting on their hands and bitching about the bots.

The dashboards and the flow charts that you now have access to provide levels of actionable information and data that were never available before. Frankly, these are the exact tools that you need to move your business forward. Managing by exception rather than brute force is the only way to spread your scarce and costly resources around.

 

 

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/

Or just type his name into your favorite search engine.

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This article previously appeared in Inc.

Image Credits – 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. 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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Filed under 1871, angel, angel capital, angel investor, Big Corporations, big money, chicago, Chicago Startup, Chicago Ventures, Entrepreneur, Entrepreneurship, Entrepreneurship and Politics, Howard Tullman, Innovation, Innovation and Culture, startup company, vc, Venture, venture capital

HOW HYPERLOCAL ECONOMIES EVOLVE

By: William Arrington

The original intent for this follow up to Hyperlocal Social Economies (HSEs) was to focus on how businesses can participate in these targeted consumption markets. I think this is an appropriate time to discuss how HSEs may evolve. Before diving in let’s quickly recap what comprises an HSE market:

  • A group of consumers with similar lifestyle and consumption patterns (i.e. friends)
  • Common set of goods/services consumed by the group
  • Competitive market for said goods and services
  • Goods and services are geographically unbound

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WILDERNESS

by John Jonelis

.In Chicago, we enjoy something few high-tech centers can boast—easy access to a primal wilderness—a vast paradise, ancient and unspoiled—unique in the world and very special.

Whenever I’m in this place, I love the world just as I find it.

A short commuter flight from O’Hare Field whisks me to Winnipeg International Airport. Then a short local flight delivers me to an isolated airstrip carved out of an untouched forest—hundreds of miles from roads and crowds. And I experience absolutely no jet lag. My destination is located within my own time zone! This amazing opportunity is accessible due to technology, and I intend to enjoy it as often as I can!

Canadian Shield shown in red

My favorite location is Manitoba at the 55th parallel—as far north as Alaska’s Aleutian Islands and the Bering Sea—as far north as Omsk. North of that grow stunted trees in permafrost, but here tall Pine and Aspen surround the lakes. Uncounted and untouched waters flow through this region—a massive system of rivers and lakes, draining into Hudson Bay. Here it is not uncommon for the ice to measure four feet thick as late as May. I come in June.

Boreal Forest—the crown of the Northern Hemisphere

Mark T Wayne kindly explained to me the geology of this place that I love so intensely. This is the unique and magnificent intersection of the Canadian Shield, and the Boreal Forest. The Shield is a vast area, surrounding Hudson Bay, where, during the last ice age, severe glaciation removed everything down to bedrock. The Boreal (also known as the Snow Forest) is a predominantly conifer range that rings the northern hemisphere like a crown. (In Russia, it runs through Siberia.) Canada’s intersection of Boreal and Shield makes up the largest unspoiled wild area in the world.

Overstressed Chicago entrepreneurs need a place to burn off the tension of a high-risk high-reward lifestyle. Some find solace at the golf course. Others in spectator sports, television, or booze. I prefer the stunning spectacle of God’s creation in the raw. And I bring my fishing rod!

The great Northern Pike reigns in these waters and grows to enormous proportions! Nobody stocks these lakes, but the waters teem with these ferocious predators. Conditions are just as they’ve been for thousands and thousands of years, and unlike other regions of the globe, Manitoba means to keep it that way. No live bait. Barbless hooks. All fish returned to the water unharmed. That transforms an idle pursuit into a challenging alternate activity for budding business tycoons.

Vladimir Up Yours Putin finds time to enjoy the Boreal in his native Russia—that is, when he’s not busy overrunning free countries or thumbing his nose at our great nation. If he can get away for such activities, I think Chicago entrepreneurs can do the same.

I’ve experienced many good fishing lakes in Canada’s provinces. This is my favorite. Knee Lake is a 50-mile-long body of icy water punctuated by rocky reefs and 150 islands. Only one small lodge operates here. They call it North Star Outpost and to me, it’s as close to heaven-on-earth as you can get.

Loop Lonagan, Mark T Wayne, and Donatis Ludditis from my magazine surprised me with tickets for this excursion. And I am immensely grateful.

Here, a man indulges in the elemental fight against nature and—for a precious time— entirely escapes the Chicago rat race!

Here, a man lives off the fat of the land, and—in a delightful exception to the catch-and-release rules—harvests fat walleye for that exquisite tradition known as Shore Lunch.

Nothing tastes better than fresh walleye cooked over pine logs. This is beer batter—my favorite.

In this ecosystem, nothing goes to waste. After that wonderful meal, I’m back hunting big pike.

Without warning, a strong strike sends a shiver up my elbow and shoulder. I feel vital life at the end of my line. The weight of it leaves no doubt that this is a trophy fish. Then a sharp pull almost yanks the rod and reel from my hands and the water boils!

I catch my breath and strain against the fish. This monster goes through all the escape behaviors learned over a life of perhaps 50 years. It jumps clear of the water. It runs deep. It rolls in my line. It thrashes, tugs, and splashes the surface of the water. Every time I catch sight of this fish, it strikes me with awe. This one is strong and thick. As they say up here, it has shoulders!

It charges the boat and I reel fast to keep my line taught. A moment of slack and the prize will be gone. It swims underneath me and I plunge my rod deep into the icy water and then work it around the bow. When I finally bring this fish to the side of the boat, it turns away and peels line off my big round reel at will.

This battle repeats three times. A fish this big does not succumb easily and expends all its energy before surrender to the net.

Quickly, I lift him into the boat. The barbless hook falls from its mouth. A hurried measurement—46 inches! One snap of the shutter and my prize is back in the water.

A fish this size is delicate and often will not survive the fight without help. Holding it by the tail, I move its body back and forth, flowing water through the gills. A minute or two, and the great northern pike strokes its tail free of my hand and swims away with power. I hope to catch that one again next year.

But for now, I must catch my own breath. This primal battle in God’s wilderness leaves me stunned and in awe and immensely satisfied.

Read – BEST GIFT

 

This is North Star Executive Outpost on Knee Lake, Manitoba, a protected pike sanctuary.

Website – northstarresort.ca

Phone – Talk to Hope Levenhagen at 800-563-7151

Email – hopelevenhagen@northhavenresort.ca

 

Charts and Maps—Wikipedia.

Photography—John Jonelis.

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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Filed under angel investor, Canada, Chicago Startup, Chicago Ventures, Entrepreneur, Entrepreneurship, fly fishing, Startup, startup company, vc, Venture, venture capital