Dr. Diane Hamilton's Blog

Entrepreneurs and Celebrities Use Kickstarter for Funding

 

Kickstarter has been a successful crowdfunding option for potential entrepreneurs to garner cash.  However it has not been without some issues.  According to The Wall Street Journal article The Trouble With Kickstarter, “The only thing worse than having to watch your friend’s arty movie is having to pay for it too.” Aside from the problems associated with pestering friends to donate, there have been some successful ventures thanks to this site.  The following list contains some of names of celebrities who have used the site:

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Facebook Better for Following Blogs than RSS

 

Facebook has made it so much easier to follow just about anything.  RSS feeds and Twitter are still an option for many people. However, with Facebook, once someone “likes” a page, it shows up in their feed on their homepage whenever anything from that page is updated.  Unlike Twitter and RSS feeds, on Facebook, it is easier to see pictures and information.

It is simple to create a Facebook page that includes links to blogs like this one.  What I think is great about a Facebook page is that I can incorporate links to this blog, to my other blogs, and any other sites.  It is an all-in-one spot to access information. To see my Facebook page, click here.

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A Professor’s Top 15 Book Recommendations

 

One of the hardest things I had to do when I moved was to get rid of some of my books.  My house was starting to look like a Barnes & Noble.  I kept the textbooks I use for my courses and a few others that I found especially useful or interesting.  The following list is in no particular order.  It contains some of my favorite books that I kept. I often recommend them to my students:

  1. Emotional Intelligence: Why it can Matter More than IQ by Daniel Goleman  – Goleman is one of the main thought-leaders in emotional intelligence.  This book is easy to read and explains the importance of emotional intelligence.
  2. The Happiness Advantage:  The Seven Principles of  Positive Psychology That Fuel Success and Performance at Work by  Shaw Achor – This book included some interesting information about how to be happy.  I liked the author’s style.  It is entertaining and interesting.
  3. The 7 Habits of Highly Effective People by Stephen Covey.  This book is required reading in many courses.  Although some students hesitate to pick up “self-help” books, this one is a classic for good reasons.
  4. Emotional Intelligence in Action by Marcia Hughes, Bonita Patterson, James Terrell, and Reuven Bar-On.  This book is a helpful tool to develop emotional intelligence in teams.
  5. The Pig That Wants to be Eaten:  100 Experiments for the Armchair Philosopher by Julian Baggini.  This strange little book was required reading for a course I taught about foresight.  My technology students love it.  It is filled with short stories. It is not for everyone. However, it is a book that will make you think.
  6. Multiple Intelligences: New Horizons in Theory and Practice by Howard Gardner. Gardner’s work in multiple intelligences is an important foundation for anyone studying personality assessments.
  7. The Effective Executive:  The Definitive Guide to Getting the Right Things Done by Peter Drucker. Drucker’s book is often required in management and leadership courses.
  8. The Bugaboo Review:  A Lighthearted Guide to Exterminating Confusion about Words, Spelling and Grammar by Sue Sommer.  This is a fun book to teach spelling and grammar.
  9. Between You and I: A Little Book of Bad English by James Cochrane.  This is helpful book to teach grammar.
  10. Eats, Shoots, & Leaves:  The Zero Tolerance Approach to Punctuation by Lynne Truss.  This is another fun book to explain the importance of punctuation.
  11. It’s Not You It’s Your Personality:  Skills to Survive and Thrive in the Modern Workplace by Diane Hamilton and Toni Rothpletz.  This is a book written by my daughter and me.  It explains all of the top personality assessments and helps readers understand how to get along with other people at work.
  12. The Elements of Style by William Strunk.  This is a classic book on  how to write correctly. Most authors keep a copy of this.
  13. On Writing Well:  The Classic Guide to Writing Nonfiction by William Zessner. I like how Zessner teaches writers to write in a simple way.
  14. The Online Student’s User Manual:  Everything You Need to Know to be a Successful Online Student by Diane Hamilton. This book will help new and continuing students to be successful in online classes.
  15. Entreleadership: 20 Years of Practical Wisdom from the Trenches by Dave Ramsey.  This book contains a compilation of things that managers or entrepreneurs should know but may have never learned.

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Hiring Graduates Based on Personality Skills

HR professionals within organizations have given personality assessments to potential employees for many years. I was asked to take a personality assessment for a pharmaceutical sales job in 1987.  The changes I have noticed since that time include the type and frequency of personality tests given.  What also may be trending is the fact that leaders of schools have become more interested in personality assessments. In the Wall Street Journal article Business Schools Know How You Think, but How Do You Feel, author Melissa Korn explained, “Prospective MBA students need to shine by showing emotional traits like empathy, motivation, resilience, and dozens of others.”  Schools may be interested in these traits because organizations value these traits.  Korn also explained, “Measuring EQ-or emotional intelligence quotient-is the latest attempt by business schools to identify future stars.”

I find this trend to be particularly interesting because I teach business, I am a qualified Myers Briggs instructor, a certified EQ-i instructor, and I wrote my dissertation on the relationship between emotional intelligence and sales performance.  I have also witnessed that online schools have placed more importance on personality assessments. Many of my first-year students must take a Jung-like personality test.  Many of my undergraduate and graduate business students have to assess their EQ.

I think it is important for these personality preference and emotional intelligence issues to be addressed in online courses.  Some of the things that may hurt a graduate’s chance of obtaining is job include having poor self-assessment skills, poor interpersonal skills, and a lack of concern for how they are perceived by others.

When I was in pharmaceutical sales, they rated us each year on our concern for impact.  It was such an important part of what they believed made us successful in the field, that there were consequences to poor judgment and rude behavior.  In the book, It’s Not You It’s Your Personality, there is a chapter regarding concern for impact, as well as one for Myers Briggs MBTI, Emotional Intelligence, DISC, and many other personality assessments that may help young adults in the workplace. One of the universities for which I teach requires students to read this book in a foresight course.

It is important for online students to learn about these assessments because employers use them.  Some personality traits stay with us throughout our lives.  The MBTI is an example of an assessment that determines preferences that may not change.  This assessment may be helpful to students who are not sure about career paths.  Other assessments like the EQ-i determine emotional intelligence levels.  The good news about emotional intelligence is that it may be improved. Marcia Hughes has written several books about how to improve EQ in the workplace.  The savvy online students will work on developing their EQ and understanding personality preferences before they graduate.  By being proactive, students may have a better chance of being successful in a career that matches their personality preferences.

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The PayPal Mafia: What is a Serial Entrepreneur?

The PayPal Mafia refers to a group of individuals who created multiple companies that created a frenzy of growth in the Silicon Valley.  The entrepreneurs created PayPal before they set out to develop other multiple successful technology-based companies.  These men are serial entrepreneurs or individuals who, “continuously come up with new ideas and starts new businesses. As opposed to a typical entrepreneur, who will often come up with an idea, start the company, and then see it through and play an important role in the day to day functioning of the new company, a serial entrepreneur will often come up with the idea and get things started, but then give responsibility to someone else and move on to a new idea and a new venture.”

To learn more about some of the individuals associated with the PayPal Mafia check out the following members and how their initial success led to other serial successes:

For a more complete list of the PayPal Mafia members and their accomplishments, click here.

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Creative Disruption or Destruction?

Leaders often have to deal with the effects of creative disruption. According to CreativeDisruption.net, “Creative disruption intentionally brings the challenge or change right to the organization to force it to change and adapt in advance of a random, unpredictable challenge that will eventually reach the organization.” With the creation of innovation, there may be fallout in terms of lost jobs.  However, with loss, there may also be creation of new jobs.  A computer may replace work that was done manually.  At the same time, someone must run the computer.

Creative disruption may be necessary in order to remain competitive. If the competition embraces innovation, they may gain a foothold in the market.  The key is being able to recognize the type of innovation that will allow companies to grow.

Some ideas have actually led to the demise of companies.  An example is the invention of digital images and its impact on Kodak.  The invention of digital images occurred in a lab at Kodak.  This invention not only changed the industry but caused the eventual demise of the company.  Kodak tried to embrace changes, but lacked foresight.   Companies like Kodak may need to embrace new business models when faced with innovative changes.

According to the article Big Data and the Creative Destruction of Today’s Business Model, having a grasp on the importance of managing and understanding data is critical.  “Companies are increasingly experimenting with and implementing ways to capture big data’s potential for both short- and long-term advantage. The crucial success factors are to first think of data as an asset—as the foundation upon which to build propositions and business models—and then to diligently build out the capabilities necessary to capitalize on big data’s potential. And perhaps most importantly, embrace the creative destruction of today’s business models.”

Uber is Uber Cool

Uber is an app (iPhone and Android) that allows you to request a black Towncar or SUV rather than a typical cab in the U.S. and Canada.  When you use the app, it finds your location and allows you to order an “Uber”.  You can see all of the black cars in your area on a map.  You can simply pick the closest driver and the system will send you an alert on your cellphone to let you know the car is on its way.  The service alert includes your driver’s name and his cell phone.  You can even watch the vehicle coming toward your location on the map.

I spoke to a frequent user of Uber who told me that it normally takes about 5-10 minutes for the vehicle to arrive.  The driver opens the car door for you.  They usually have bottles of water, candy, gum, and other handy items. The price is a little more than a standard cab.  However, she felt that the few dollar difference was well worth it.

When you reach your final destination, you do not have to worry about having cash, tipping, or even dealing with negotiations.  Since your information is stored in the app, the receipt is simply sent to your email. They ask you to rate the drivers so that they can be sure they have excellent service.  I was told that drivers need to maintain a 4.7 out of 5 star rating in order to continue driving for the company.

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How to Use iPhone to Connect Computer to the Internet

If you are like me, you may want to use your laptop when you travel.  One way to gain access to the Internet is by using an iPhone’s Personal Hotspot feature.  The cellular data connection on the phone will allow you to connect your laptop or desktop to the Internet.

To use this feature, go to the settings on the iPhone (3GS version or later) and chose general and then choose Personal Hotspot. Turn the Personal Hotspot to the “on” position.  The Wi-Fi password will be listed on the iPhone under the Personal Hotspot area next to Wi-Fi password.  The wireless connection should now be listed as a choice on the laptop or desktop computer.  To connect to the iPhone, go to the Internet Access area on the computer and select the iPhone connection option. Then enter that password listed on the iPhone when requested.

When the personal hotspot is turned on it may incur charges so it is important to turn it off when not using it for temporary access.  The Apple support website states that the Wi-Fi hotspot will turn off when no devices are detected, but I was told by a Verizon employee that there may be charges.  I was also told that the phone could not be used when in personal hotspot mode.

According to the Apple Support site, “While devices are connected to Personal Hotspot, the status bar will be blue and will indicate the number of connected users.  The maximum number of supported connections may vary depending on your carrier or iPhone model.”

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Are QR Codes Successful?

 

I am currently reviewing a text about marketing.  Schools hire me to do this on occasion.  One thing that disappointed me was there was nothing in it about QR codes and some of the other newest marketing techniques. QR codes have been around for a while. If you have not noticed them, they are the little barcode-looking square that appears on newspapers billboards, flyers, and even cars.

While QR codes offer some great marketing opportunities, they have not been as successful as other techniques.  In the article QR Codes are Dead! Long Live QR Codes, the author stated, “One of the most popular Tumblr blogs of 2012 is Pictures of People Scanning QR Codes. If you click through to the site you will see that it is empty. The joke here? No one scans QR codes (short for Quick Response code). It is obvious that QR codes have a bad rep and haven’t gained much traction on the consumer end of the equation.”

QR codes have been utilized well by some companies.  I am currently reading the book Neuromarketology by Brian Fabiano.  He is a marketing guru who was wise enough to put a QR code at the end of each of his chapters with the note, “scan to learn more!” Other examples of successful QR code use include:

For more information about how to use QR codes, check out the following articles:

Entrepreneurs Replacing People with Tablets

 

One of the hardest parts of getting a new business off of the ground is to have enough funding.  Many entrepreneurs use family members as personnel in order to avoid paying wages.  It may be quite expensive to hire people to take orders or process requests.  The Wall Street Journal article Can the Tablet Please Take Your Order Now included some examples of how some small businesses have begun to use tablets instead of people in the customer-ordering process.

If customers can order through a digital device, it may not only be cheaper but faster.  There are app-building tools that entrepreneurs can use to create a way for customers to input their orders.  Some companies have used QR codes to speed up the order process. Using apps is another logical alternative. With talk of increasing the minimum wage, some small businesses are looking for ways to remain profitable.  If tablets become a popular way to order, it may impact many minimum-wage workers.  “In all, one-third of low-wage workers are employed by businesses with fewer than 100 employees, according to the National employment Law Project, an organized-labor-backed advocacy group for low-wage workers.”

Not only may entrepreneurs experience some cost savings by utilizing tablets and apps, there may be some other entrepreneurial opportunities for the app designers.  According to the Wall Street Journal article, “Some entrepreneurs see a promising market in selling technologies to small businesses that might help them to streamline operations.”  While this may cost some minimum wage-earners jobs, it may also be opportunities to train them for higher-skilled positions.

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