tag:blogger.com,1999:blog-73153588685588501202023-11-15T10:01:08.906-08:00The Accidental CFOjroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.comBlogger21125tag:blogger.com,1999:blog-7315358868558850120.post-39085445381853703962018-12-27T15:58:00.001-08:002018-12-27T15:58:36.427-08:00There's Rice in My Mouse...<div class="gmail_default" style="-webkit-text-stroke-width: 0px; color: #222222; font-family: verdana, sans-serif; font-size: large; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">
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In Toy Story (Disney/Pixar), when you pull Woody's (Tom Hanks) string, the most memorable response is, "There's a snake in my boot..." In this statement, Woody is saying:</div>
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<ol>
<li>Yikes!</li>
<li>This is an emergency! And...</li>
<li>As a sheriff, I cannot do my job.</li>
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Recently, I spilled water on my desk. I responded immediately. I saved my laptop. WHEW! But, my mouse got a little wet. Oh no! What to do? </div>
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Everyone has heard a story of someone dropping their cell phone in the toilet. You are supposed to put it in rice, right? So, that is exactly what I did. I rushed to the kitchen, put the damp mouse in a baggie, and covered it with rice. </div>
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The good news: I put the battery back in. The light turned on. I took it to the computer, it moved the cursor. Crisis averted. YAY!</div>
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Then, casually, without thinking, I shook the mouse. It sounded like a maraca. </div>
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Rhetorical question: have you ever tried to get rice out of a mouse?</div>
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I shook the mouse. Rice came out. I shook some more. Rice continued to fall. Eventually the rice flow slowed, then stopped. I tapped the mouse on the desk. DAMN!. Some rice must have been wedged inside; some broke free! ARGGH!</div>
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Shake, shake, shake... Rattle, rattle, rattle... I shook that thing, off and on, for hours. Literally hours. I took a walk, shaking my mouse. Still rattling. I drove to work. I shook my mouse. Bit by bit the rice fell out. Eventually...the sound stopped completely. I tapped the mouse. I banged the mouse. No matter what I did, no more rattling, no more rice. I guess I got all the grains out. FINALLY!</div>
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Success! Right?</div>
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But...Nooooo!!!!</div>
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The mouse works; but the right mouse button is sluggish. The mouse functions, but not well enough to work effectively. I guess rice flour or something is gumming up the works. SIGH! One just cannot win when 21st century electronics fail.</div>
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Luckily, I had a spare mouse sitting around.</div>
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So...I am back to work. </div>
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<span style="background-color: white;"><br /></span></div>
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<span style="background-color: white;">DAMN! </span>I bet Woody did not have to replace his boot.</div>
<b></b><i></i><u></u><sub></sub><sup></sup><strike></strike><br />jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-10765032269367451122018-12-25T14:00:00.001-08:002018-12-25T14:00:29.556-08:00OMG! Mary Poppins Returns is rated PG!Remember Mary Poppins? The loveable G-rated movie about a magical nanny that helps a London family return to its values? With Julie Andrews as Mary Poppins and Dick Van Dyke as Bert, her gregarious chimney sweep follower?<br />
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Of course you do. Mary Poppins is unforgettable.<br />
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Well...the sequel just came out...Mary Poppins Returns -- and it is rated PG! How can that be possible? How can Mary Poppins be PG? Does Mary show a little leg? Does Bert smoke a cigarette? Does Michael Banks drink a cocktail to drown his woes? Do the dancing chimney sweeps sing a Chris Brown song?<br />
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Walt Disney must be rolling in his grave.<br />
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Have we really gotten to the point that Hollywood cannot even make Mary Poppins G?<br />
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What's next, an R-rated Mickey Mouse movie?jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-4333575691419765802018-07-11T15:11:00.000-07:002018-07-11T15:11:06.447-07:00If you use the water cooler, please drop off your summer dues...This spring I adjunct taught an undergraduate finance class at a local university. I thought the email request, "If you use the water cooler, please drop off your summer dues..." really captured the essence of the economics of being an adjunct instructor.<br />
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Every time I agree to adjunct teach (this is my 3rd time), I marvel at how little the university pays its adjunct faculty. If you consider how much time curriculum development takes, on an hourly basis, it approaches minimum wage. After each teaching stint, I conveniently forget the poor pay...only to be reminded the next time. But, if you want to teach and are not a tenure track professor, I guess it is the price of admission. Right?<br />
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It is the university's nickel and dime behavior that gets me. As an instructor, the first thing you have to do is get a faculty ID. When you do so, the clerk immediately asks, "how do you want to pay for your parking?" Really? We have to pay for parking? On our adjunct wages? OK...FINE, deduct it from my paycheck. The administrator responds, "Here is your parking pass. Go to the student store to buy that little plastic thing that hangs from your rear-view mirror that holds your parking pass." REALLY? We have to pay for the plastic parking pass holder???<br />
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It is a good thing I don't even know where the water cooler is...jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-87980514436854422412016-10-06T00:19:00.003-07:002016-10-06T00:24:58.819-07:00Why Wouldn't I?<!--[if gte mso 9]><xml>
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Right now I am flying home from my Harvard Business School 25<sup>th</sup> reunion. It was incredible.<br />
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I admit…I didn’t go to the 15<sup>th</sup> and 20<sup>th</sup> reunion. Why? It doesn’t take a Baker Scholar to crack that case. Frankly, I don’t remember the details…but either I was between jobs, or I hated my job or something was going wrong in my personal life or something like that. Most likely my career was going sideways at that time. As a Harvard Business School Graduate, when your career is not going up and to the right, your self-esteem falls into the toilet.</div>
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When we graduate from Harvard Business School, we don’t believe, we KNOW we can conquer the universe. And, you know what? Many alumni do. So, we set lofty goals for our careers, which is probably good. After all, if you don’t know where you are going, how are you going to get there? Right? But…we don’t just set goals…we turn those goals into expectations.</div>
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As a former engineer, I love equations. My favorite equation has no numbers:</div>
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SATISFACTION = PERCEPTION – EXPECTATIONS</div>
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This equation applies to almost anything in life. It quickly clarifies my decisions to not attend previous reunions. If my PERCEPTION of how my career is down in the dumps and my EXPECTATIONS for my career are in the clouds…well…anyone can do the math…my SATISFACTION must be negative. But…my SATISFACTION must not only be negative, it must be REALLY, REALLY negative!</div>
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As a Harvard Business School graduate, with my career SATISFACTION down in the depths of despair, there was NO WAY I could have gone to those reunions. Right? After all, if I went, I would have to face all my classmates. And…of course…they were all masters of the universe; because, I hadn’t just set expectations high for myself, I had set expectations high for everyone in my class. And without information to the contrary, I assumed they had achieved or exceed their goals. They must have…they all graduated from Harvard Business School. Of course, they achieved or exceeded those goals. They were all CEO’s. Captains of industry. I was alone. I was the only FAILURE. I didn’t want to go to those reunions; I wanted to crawl into a hole.</div>
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The most interesting thing about my favorite equation is that REALITY is nowhere in the equation. PERCEPTIONS are subjective. EXPECTATIONS are often unrealistic. REALITY is nowhere in the equation. In reality, was I a FAILURE? Of course not. But it is easy to FEEL like a failure. And were my expectations unfair? Probably. Reasonable as goals, but unreasonable as expectations.</div>
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But, I need to circle back to this reunion. My section party was amazing. For a few hours I was surrounded by 40-50 people who I knew intimately from first year. I knew them. And they knew me. And they care about me.</div>
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Anyway…after having a GREAT time at the section party I shared a cab ride back to our hotels with a couple of sections mates. One of those section mates is a brilliant, McKinsey type. He used to come into section hungover and disheveled. Then he would proceed to crack pretty much any case for which he was asked to open. Anyway…the three of us needed to tell the cabbie which hotel to go to first. This section mate was staying at the Marriot Copley. Reunion headquarters. So…I looked over at him and said, “You must have RSVP’d early to be staying at the Marriot Copley.” He responded, “of course I RSVP’d right away.” I looked at him blankly. And then, as always, he cracked the case. He quietly said, “Why wouldn’t I? I go to all of these things.”</div>
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And the light turned on in my head. Why wouldn’t I go to ANY and ALL Harvard Business School reunions? Life takes a village, right? For the previous few hours, at the section party, I had returned to the nurturing village of my section. Everybody knew me. They care about me. And you know what…they didn’t judge me. Everyone just enjoyed each other and caught up. If I had gone to my 15<sup>th</sup> and 20<sup>th</sup> reunions, my guess is that the same would have happened. I would have been welcomed right back into that fold; I would not have been judged. I would have been welcomed and nurtured.</div>
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So…will I go to my Harvard Business School 30<sup>th</sup> reunion? Why wouldn’t I?</div>
jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-23472079576436700392014-04-04T14:48:00.001-07:002014-04-04T14:53:26.621-07:00Napa vs. SonomaI just received an email from an old friend. He admitted that while he goes to Napa several time a year, he never goes to Sonoma County. Here was my response:<br />
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<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">I will never understand why people are so enamored by Napa vs Sonoma. <o:p></o:p></span></div>
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<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">Here is the comparison:<o:p></o:p></span></div>
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<!--[if !supportLists]--><b><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-bidi-font-family: Calibri; mso-fareast-font-family: Calibri;">1)<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><u><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">Brand<o:p></o:p></span></u></b></div>
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<!--[if !supportLists]--><span style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">Napa’s brand is auto parts. <o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">Sonoma County’s brand is good food, beer, wine and lifestyle.<o:p></o:p></span></div>
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<!--[if !supportLists]--><b><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-bidi-font-family: Calibri; mso-fareast-font-family: Calibri;">2)<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><u><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">Borders<o:p></o:p></span></u></b></div>
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<!--[if !supportLists]--><span style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">Sonoma County has a beautiful coastline.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">Napa County abuts Solano County.<o:p></o:p></span></div>
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<!--[if !supportLists]--><b><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; mso-bidi-font-family: Calibri; mso-fareast-font-family: Calibri;">3)<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;"> </span></span></b><!--[endif]--><b><u><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">History<o:p></o:p></span></u></b></div>
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<!--[if !supportLists]--><span style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">Fort Ross, Sonoma Mission, Bear Flag Revolt, General Vallejo’s adobe<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Symbol; font-size: 11.0pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">History?? <o:p></o:p></span></div>
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<span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt;">Sonoma County rocks!<span style="color: #1f497d;"><o:p></o:p></span></span></div>
jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-6107400387880258542012-11-21T11:16:00.003-08:002012-11-21T11:16:55.673-08:00Back to BloggingHas it really been almost a year and a half since I posted to my blog? Wow!<br />
<br />
Time to get back into it. I enjoy writing; I am not sure many read my posts, but I think they are search-able and they remain out in the blog-o-sphere.<br />
<br />
<br />
Possible topics:<br />
<br />
* YES! There are sufficient North Bay professionals to have a vibrant start-up community.<br />
* The North Bay Escape Valve<br />
* The Gambler's Dilemma and North Bay Professionals<br />
* Come together -->Interact -->Collaborate-->Start Businesses-->Create Jobs<br />
<br />jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-22176622259470233562011-06-04T09:57:00.000-07:002011-06-04T09:57:14.834-07:00Congratulations K-Diagnostics - Winner of the North Bay iHub Business Plan Contest.The inaugural North Bay iHub Seed Round Business Plan Competition just drew to a close. The winner, San Rafael based K-Diagnostics has a sleep apnea diagnostic and monitoring medical device. How exciting! K-Diagnostics plans to move to the SMBC (Sonoma Mountain Business Cluster) and hopes to have as many as 30 employees within a few years.<br />
<br />
The other finalists:<br />
<br />
<ul>
<li>GOasis - Santa Rosa - mobile, self-contained, energy-efficient emergency shelters</li>
<li>E3 - Sebastopol - bio-methane from municipal waste</li>
<li>Barrier Free Adventures - Petaluma - mobile & internet travel information for disabled travelers</li>
</ul>
<br />
Clearly there are lots of entrepreneurs in the North Bay with compelling ideas.<br />
<br />
There were lots of winners in this contest:<br />
<br />
<ul>
<li>Sonoma, Marin, and Napa Counties -- we need entrepreneurship to spur our economy</li>
<li>The SMBC that sponsored the contest and gained a new incubator tenant</li>
<li>Sonoma State and Dominican University that inspired many of the entries</li>
<li>the Event Sponsors including the North Bay Angels (K-Diagnostics gets to pitch at the NBA's regular July meeting if it wants)</li>
</ul>
But the biggest winners are all of the 36 companies that participated in the contest. Each was assigned a mentor by the SMBC/iHub. The business plan competition gave the companies a compelling reason to take their business planing to a new level. I mentored a very early stage company/idea. My company did not make the finals...but the team said the process was worthwhile. That is what is important. I only hope that my contribution was helpful.<br />
<br />
But, right now we give K-Diagnostics a moment in the spotlight. Great job!<br />
<br />
<i>Full Disclosure: I am on the SMBC board of mentors and recently became an Entrepreneur in Residence at the SMBC.</i><br />
<br />
Twitter: @jroym<br />
<br />
<br />jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-75300957618039820902011-06-03T10:23:00.000-07:002011-06-03T10:23:43.410-07:00Rain, Rain, Go Away!It rained this week. In June. It never rains in Northern California in June. Rain only falls from October to April...maybe May. Never in June through September. What is going on?<br />
<br />
A picnic I was planning to go to this weekend was cancelled because of a high chance of rain. I cannot remember that ever happening before. I am pretty sure that the rest of the country deals with it differently. In much of the country, it rains in any month. So...people put on events rain or shine. Ideally with alternate arrangements for rain.<br />
<br />
I remember crouching under a table with dozens of others during a downpour at the South Carolina Oyster festival in Columbia, SC. The storm came and went. We came out from under the tables, laughing, having gotten to know a few strangers. Ironically, it was fun - and since I am telling this story, clearly memorable.<br />
<br />
So...the rain is frustrating. We yearn for our warm summer weather. But, frankly, we in Northern California need to get over ourselves.jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-65589843914194781162011-02-17T23:39:00.000-08:002011-02-17T23:40:45.065-08:00Snowcamping! Woo hoo!I know my blog is mostly about work...but even professionals need to take a long holiday weekend!<br />
<br />
I am off to <a href="http://www.everytrail.com/view_trip.php?trip_id=139620">Crocker Point in Yosemite</a> (this guy is not me-the hair gives it away) for 3 days, 2 nights of snowcamping. My pack is packed. My snowshoes are ready. Time for an adventure! And when I return I will be all the more energized for having taken a break.<br />
<br />
If you think I am crazy...checkout <a href="http://www.snowcamping.org/">www.snowcamping.org</a>. I have taken training. I have helped train people to do this. I used to be an assistant leader on these trips. I know what I am doing...because, folks, don't snowcamp if you don't have the right gear and don't know what your are doing. People die. But not me...I will just have 3 glorious days in Yosemite.<br />
<br />
Woo hoo!<br />
<br />
Twitter: @jroym<br />
LinkedIn: <span class="Apple-style-span" style="font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;"><a href="http://www.linkedin.com/in/jroymartinez">http://www.linkedin.com/in/jroymartinez</a></span>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-30655083580441285192011-02-17T15:28:00.000-08:002011-02-17T15:28:53.322-08:00Joining the Facebook JuggernautI have been resisting having a Facebook account for a long time. Mostly for personal reasons that I won't get into here. But, I have really embraced the social media revolution. I use LinkedIn constantly. I have a blog. I tweet. So...why the resistance to Facebook?<br />
<br />
I guess I have trouble with the collision of worlds. My work world is buttoned down. I don't want my personal life to feel the same way (not that my personal life is wild by any stretch of the imagination). But I realize that the best work relationships are also personal. And...haven't the work world and personal life already collided? I need to ask that when I am checking my iPhone at 6AM for work-related emails. I need to face it...in the 21st century work and personal life intermingle continuously.<br />
<br />
So...I set up a Facebook profile this morning. I invited my direct family and a few friends. Because I am careful, I set my security restrictions very high. Facebook wants users to start loose and tighten over time (or...heck...keep 'em wide open). I prefer to set high security and loosen it as I become more comfortable and learn how to build safeguards into my profile. I won't click "Like" until I figure out what that means. I did post my first "status update". But, I do this all the time on LinkedIn and Twitter, so it is no big deal.<br />
<br />
OK...so no more wearing that "Party Naked" t-shirt. At least not when cameras are around. Truthfully, I don't actually have one, as anyone who knows me knows. But, you get the point. I have to watch out...my future employer may be watching at all times now. So is my wife. So is my daughter. My personal life will go on more display now. And...once something is on the internet, it may always be in the public sector. I am out of my comfort zone. But, often getting out of one's comfort zone is a good thing.<br />
<br />
Social media is here to stay. It is valuable and amazingly effective. I still believe that the Facebook quasi-monopoly will eventually crack. The Microsoft one certainly did. But at least for now...I need to be on Facebook...so I am.<br />
<br />
LinkedIn: <span class="Apple-style-span" style="font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;"><a href="http://www.linkedin.com/in/jroymartinez" name="webProfileURL" style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #006699; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none; vertical-align: baseline;" title="View public profile">http://www.linkedin.com/in/jroymartinez</a></span><br />
Twitter: @jroym<br />
Facebook: <span class="Apple-style-span" style="border-collapse: collapse; color: #333333; font-family: 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 11px; line-height: 15px;"><a href="http://www.facebook.com/jroym" style="color: #3b5998; cursor: pointer; text-decoration: none;">facebook.com/jroym</a></span>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-37328355952708590542011-02-16T22:38:00.000-08:002011-02-16T22:38:04.129-08:00Marketing Opportunity -- Training the Unemployed - For FREE!<br />
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At a Proformative event in San Francisco today I made a bold suggestion. </div>
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I approached Paul Turner, senior director of Product Marketing at NetSuite and Rob Hull, Founder of Adaptive Planning -- two of the hottest small/medium business software companies. I suggested that they train unemployed business executives for FREE. Here is what I said:</div>
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<span class="Apple-style-span" style="color: blue;">I really think Netsuite has a huge opportunity to do some long-term marketing and to build some incredible good will in the financial community.</span></div>
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<span class="Apple-style-span" style="color: blue;"><br /></span></div>
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<span class="Apple-style-span" style="color: blue;">Right now, due to the Great Recession, there are thousands and thousands of senior business managers without jobs. Few have experience with Netsuite. Most have used Quickbooks, GP, etc. At some time in their career, most will participate in the decision about an ERP/CRM/accounting implementation.</span></div>
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<span class="Apple-style-span" style="color: blue;"><br /></span></div>
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<span class="Apple-style-span" style="color: blue;">It would be great if Netsuite took a long-term view and treated this situation as an opportunity. Netsuite could develop a formal program to train those out of work finance managers on the Netsuite product free of charge. Then...when they are employed again, and they will be employed again, they are much, much more likely to recommend Netsuite when it comes time to upgrade accounting, ERP, etc.</span></div>
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This was a bold suggestion. Offer training for free. But...the value is clear. Both Paul and Rob clearly "got it". They expressed cautious interest in the idea. We will see if their organizational view is long-term enough to embrace it.</div>
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<br /></div>
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Twitter: @jroym</div>
</div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-37042281539610761822011-02-09T16:44:00.000-08:002011-02-09T16:44:20.116-08:00My quotes in an article this week in the Silicon Valley Business Journal<br />
<div class="im">
<span class="Apple-style-span" style="color: #500050; font-family: Verdana, Helvetica, Arial;"><span class="Apple-style-span" style="border-collapse: collapse;"><b><u>My quotes in an article this week in the Silicon Valley Business Journal</u></b></span></span></div>
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I was quoted in the Silicon Valley Business Journal this week. The SVBJ won't let me post the entire article, but here are the paragraphs in which I am quoted. The article is about YCombinator giving $150K to each of the companies that participate in its incubator program.</div>
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Startups get $150K each to help bring products to market</h1>
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Silicon Valley / San Jose Business Journal - by Jon Xavier</h4>
<span style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 12px; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Date: Friday, February 4, 2011, 3:00am PST</span></div>
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<span class="Apple-style-span" style="border-collapse: separate; color: black; font-family: Tahoma, Arial, Helvetica, sans-serif;"><span style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 12px; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><br /></span></span></div>
<span class="Apple-style-span" style="font-family: Tahoma, Arial, Helvetica, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 15px;"><a href="http://bit.ly/eazJTl">http://bit.ly/eazJTl</a></span></span></span></div>
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<span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><br /><span class="Apple-style-span" style="border-collapse: collapse; color: #500050; font-family: Verdana, Helvetica, Arial; font-size: 12px;"><span class="Apple-style-span" style="background-color: yellow;">Even with the incubator’s strong reputation and heavy hitters, it remains to be seen whether other incubators will try to court similar investments. That will depend on how successful the current crop of Y Combinator startups in the next few years. Regardless of the outcome, Y Combinator continues to be ahead of the curve, said </span><span class="Apple-style-span" style="background-color: lime;">J. Roy Martinez</span><span class="Apple-style-span" style="background-color: yellow;">, chair of the angel investment group North Bay Angels</span><span class="Apple-style-span" style="background-color: transparent;">.</span></span></span></div>
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<span class="Apple-style-span" style="background-color: yellow;"><br /></span><span class="Apple-style-span" style="background-color: yellow;">“Y Combinator really has reset the bar, raised the expectations for what an incubator should offer,” </span><span class="Apple-style-span" style="background-color: lime;">Martinez</span><span class="Apple-style-span" style="background-color: yellow;"> said. “I mean, I’ve heard at least one incubator being told, ‘Why can’t you be more like Y Combinator?’ So they continue to raise the bar, they continue to innovate, and more power to them, I say.”</span></div>
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<span class="Apple-style-span" style="background-color: white;">Twitter: @jroym</span></div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-79567318234539747002010-10-06T17:20:00.000-07:002011-02-17T16:11:17.749-08:00Why VC’s should pay attention to secondary geographies<br />
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<b style="mso-bidi-font-weight: normal;">Why VC’s should pay
attention to secondary geographies<o:p></o:p></b></div>
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<i style="mso-bidi-font-style: normal;">October 6, 2010<o:p></o:p></i></div>
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U.S. VC’s are almost all located in very specific locations.
Silicon Valley, <st1:city w:st="on">San Francisco</st1:city>, <st1:city w:st="on">Seattle</st1:city>,
<st1:place w:st="on"><st1:city w:st="on">Boston</st1:city>, <st1:state w:st="on">New
York</st1:state></st1:place>, RTP, etc. I call these VC primary geographies.
They do almost all their investing inside those primary geographies.</div>
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Sequoia Capital is famous for explicitly preferring to
invest in companies that were within a 20 minute radius of its office. Of
course, Sequoia is located on <st1:street w:st="on"><st1:address w:st="on">Sand
Hill Road</st1:address></st1:street>. That pretty much limits their investing
to Silicon Valley and <st1:city w:st="on"><st1:place w:st="on">San Francisco</st1:place></st1:city>.</div>
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<br /></div>
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But…does that make sense?</div>
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<br /></div>
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Did you know that the biggest M&A event of a privately
held VC-backed company happened to a pre-revenue startup in a secondary
geography?</div>
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<br /></div>
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Were you aware that arguably the two biggest financial
successes of the 20th century started in what investors at the time
would consider tertiary and 4<sup>th</sup> or 5<sup>th</sup> rate geographies?</div>
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<br /></div>
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Of course, I am talking about Cerent, Microsoft, and
WalMart.</div>
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<br /></div>
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Cerent was acquired by Cisco for $7.2 billion. Cerent was
located in my hometown of <st1:city w:st="on">Petaluma</st1:city> in <st1:place w:st="on"><st1:city w:st="on">Sonoma County</st1:city>, <st1:state w:st="on">CA</st1:state></st1:place>.
Well outside Sequoia’s 20 minute radius.</div>
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<br /></div>
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Microsoft was started in <st1:city w:st="on"><st1:place w:st="on">Albuquerque</st1:place></st1:city>. Definitely at least a tertiary geography at the time. It soon moved to <st1:city w:st="on"><st1:place w:st="on">Seattle</st1:place></st1:city>…which at that time would have been
considered a secondary geography.</div>
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<br /></div>
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WalMart began (and remains) in <st1:place w:st="on"><st1:city w:st="on">Bentonville</st1:city>, <st1:state w:st="on">Arkansas</st1:state></st1:place>.
<st1:state w:st="on"><st1:place w:st="on">ARKANSAS</st1:place></st1:state>. Can
you imagine Sequoia going to <st1:state w:st="on"><st1:place w:st="on">Arkansas</st1:place></st1:state>?</div>
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<br /></div>
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So…clearly, VCs ignore companies outside their primary
geographies at their risk.</div>
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<br /></div>
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J. <st1:personname w:st="on">Roy Martinez</st1:personname></div>
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<a href="http://www.blogger.com/post-edit.g?blogID=7315358868558850120&postID=7956731823453974700" name="webProfileURL"></a><a href="http://www.linkedin.com/in/jroymartinez" title="View public profile"><span style="border-bottom-color: windowtext; border-bottom-style: none; border-bottom-width: 1pt; border-left-color: windowtext; border-left-style: none; border-left-width: 1pt; border-right-color: windowtext; border-right-style: none; border-right-width: 1pt; border-top-color: windowtext; border-top-style: none; border-top-width: 1pt; color: #006699; font-family: inherit; padding-bottom: 0in; padding-left: 0in; padding-right: 0in; padding-top: 0in;">http://www.linkedin.com/in/jroymartinez</span></a><span class="apple-style-span"><u><span style="color: black; font-family: Arial;"><o:p></o:p></span></u></span></div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-75852702897735193472010-09-02T14:03:00.000-07:002010-09-02T14:03:28.954-07:00North Bay Job Creation<br />
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">North Bay Job Creation</span></span></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">Recently, Brenda Gilchrist of the HR Matrix asked a few North Bay business people the following questions:</span></span></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;"></span></span></div>
<span style="color: navy; font-family: Arial; font-size: x-small;"><div>
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<em><b><i><span style="color: #c00000; font-family: Arial; font-size: small;"><span style="color: #c00000; font-family: Arial; font-size: 12pt; font-weight: bold;">In
your opinion, what do you think it will take to create [and/or
retain] jobs? </span></span></i></b></em><b><i><span style="color: #c00000; font-family: Arial;"><span style="color: #c00000; font-family: Arial; font-style: italic; font-weight: bold;"><br /></span></span></i></b><em><b><i><span style="color: black; font-family: Arial;"><span style="color: black; font-family: Arial; font-weight: bold;"> </span></span></i></b></em><em><b><i><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt; font-weight: bold;">- Any
barriers to creating jobs?</span></span></i></b></em><span style="color: black; font-family: Arial;"><span style="color: black; font-family: Arial;"><o:p></o:p></span></span></div>
</div>
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<em><b><i><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt; font-weight: bold;"> -
Any changes needed for job creation?</span></span></i></b></em><span style="color: black; font-family: Arial;"><span style="color: black; font-family: Arial;"><o:p></o:p></span></span></div>
</div>
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<em><b><i><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt; font-weight: bold;"> -
Are you concerned about jobs?</span></span></i></b></em><span style="color: black; font-family: Arial;"><span style="color: black; font-family: Arial;"><o:p></o:p></span></span></div>
</div>
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<em><b><i><span style="color: black; font-family: Arial; font-size: x-small;"><span style="color: black; font-family: Arial; font-size: 10pt; font-weight: bold;"> -
Are there barriers for companies to be successful or to start up, which impacts
the ability to create jobs?</span></span></i></b></em></div>
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</span><br />
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">Here is my answer:</span></span></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">I am
VERY concerned about jobs in the <st1:city w:st="on"><st1:place w:st="on">North
Bay</st1:place></st1:city>. We have 12% unemployment. There are many, many
people without jobs. (Full disclosure: me included)<o:p></o:p></span></span></div>
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<br /></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">I
think it is very difficult for businesses to start, operate, and expand in our
communities. Small business and startup businesses are the engine that feeds our
economy and creates jobs. If businesses have challenges starting up, operating,
and expanding, they cannot create jobs.<o:p></o:p></span></span></div>
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<br /></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">There
are many barriers to business expansion and job creation here in the <st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city>. Most people
tend to blame the state and local government regulations. They are right. But…I
would suggest that we, the people of the <st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city>, play just as big of a part in the
situation. <o:p></o:p></span></span></div>
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<br /></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">1)
Many <st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city>
people have gone beyond NIMBY (not in my backyard) straight to BANANA (build
absolutely nothing anywhere near anything). The badly needed asphalt plant in
<st1:city w:st="on"><st1:place w:st="on">Petaluma</st1:place></st1:city> is a
good example. Despite being in a great (and historically appropriate) location
for this kind of industry (close to freeway, river access for raw material
delivery), people oppose it because it is NEAR a park. Not in a park. Just near
a park. Build absolutely nothing anywhere near
anything.<o:p></o:p></span></span></div>
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<br /></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">2) The
<st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city>
electorate swings wildly…electing pro-growth representatives one year,
anti-growth representatives the next year. How can businesses that operate on a
multi-year horizon do any planning? It has taken Target 10 years to get permits
to build in <st1:city w:st="on"><st1:place w:st="on">Petaluma</st1:place></st1:city>. Since the planning process takes more
time than a city council term, they have been subject to the wild swings in
sentiment in the city council.<o:p></o:p></span></span></div>
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<br /></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">3)
There is always somebody opposed to anything. So…doing anything is a huge fight.
This makes trying to do anything just not worth it for many existing businesses
and new entrepreneurs.<o:p></o:p></span></span></div>
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<br /></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">Finally, there is an
issue of focus. Our cities and chambers of commerce recently have tended to
focus on driving tourism and retail. This makes sense as tourism and retail
drive sales tax and ToT (transient occupancy tax) revenue. 10 years ago, I
remember a local mayor trumpeting <st1:place w:st="on"><st1:placename w:st="on">Telecom</st1:placename> <st1:placetype w:st="on">Valley</st1:placetype></st1:place> and the $100K jobs it brought.
Today I hear that same official banging the drum for tourism and retail. Tourism
and retail will bring $10/hr jobs. What an amazing change in
focus.<o:p></o:p></span></span></div>
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<span style="color: navy; font-family: Arial; font-size: x-small;"><span style="color: navy; font-family: Arial; font-size: 10pt;">We
need to work together to grow the <st1:city w:st="on"><st1:place w:st="on">North
Bay</st1:place></st1:city> economy and create jobs. State and local government
can play a part. They can work harder to facilitate business creation and
expansion. The citizens of the <st1:city w:st="on"><st1:place w:st="on">North
Bay</st1:place></st1:city> need to play a part. We have to stop opposing
everything. But, most of all, we all need to agree to focus on not just job
creation but <b><u><span style="font-weight: bold;">good</span></u></b> job
creation. In addition to tourism we need to focus on enabling the creation of
more technology companies that will export goods and services from the <st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city> region (phrase
proudly plagiarized from Michael Adler). Those companies will create $100K jobs
that will drive our economy. Incidentally, if we do that, the retail jobs will
follow.<o:p></o:p></span></span></div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com1tag:blogger.com,1999:blog-7315358868558850120.post-36256106046060564272010-08-16T20:49:00.000-07:002010-08-19T16:25:57.627-07:00The North Bay Growth and Innovation Forum vs The North Bay Investors Summit?<div>
<span class="Apple-style-span" style="font-family: Arial;"><span class="Apple-style-span" style="font-size: small;"></span></span><br />
<span class="Apple-style-span" style="font-family: Arial;"></span><br />
<span class="Apple-style-span" style="font-family: Arial;"></span><br />
<span class="Apple-style-span" style="font-family: Arial;"></span><br />
<span class="Apple-style-span" style="font-family: Arial;"></span><br />
<span class="Apple-style-span" style="font-family: Arial;"><div>
<span style="font-family: Arial;"><span class="406003523-16082010">The North Bay Growth and Innovation Forum vs The North Bay Investors Summit?</span></span><br />
<br /></div>
<div>
</div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010">This fall the North Bay will host two great events --the 9th North Bay Growth & Innovation Forum (NBGIF) and the 2010 North Bay Investors Summit (NBIS).</span></span><br />
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</div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010">The NBGIF is put on by the Santa Rosa Chamber of Commerce with leadership from the City of Santa Rosa Economic Development team. The North Bay Angels are an event partner. This fall the NBGIF happens on October 20. The keynote speaker is Doug Clark, the CEO of M<span style="font-size: small;"><span style="font-size: 10pt;">é</span>tier. M<span style="font-size: 10pt;">é</span>tier recently opened its second office in Santa Rosa. The M<span style="font-size: 10pt;">é</span>tier Santa Rosa story is amazing. In just 12 months M<span style="font-size: 10pt;">é</span>tier had brought on over 20 employees (with 11 open positions) in Santa Rosa. M<span style="font-size: 10pt;">é</span>tier chose Santa Rosa after an exhaustive evaluation of different cities.</span></span></span><br />
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</div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010">The target participants for the NBGIF are growing small-to-mid-sized businesses in the North Bay.</span> <span class="406003523-16082010">The NBGIF includes the standard company pitches. But the forum also has an educational component. The NBGIF has round table discussions where entrepreneurs can talk with an expert at no charge. Past round table topics have included financing, due diligence, social media, and email marketing. Attendance is open to anyone. This is a great event for any North Bay small-to-medium-sized business owner to promote their business. It is also a great forum for aspiring entrepreneurs.</span></span><br />
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<div>
<span style="font-family: Arial;"><span class="406003523-16082010">On the other hand, the NBIS is hosted by the Sonoma Mountain Business Cluster (SMBC) with a focus on angel or VC-backable startups. The SMBC is partnering with the North Bay Angels and the Keiretsu Forum. Attendance is limited to accredited investors and VC's. This year's event theme is Cars, Cabernet, & Cash. Cash of course refers to the VC-pitches. And cabernet is obvious -- Napa and Sonoma counties make the North Bay the premier wine region in the country -- so the wine at the event mixer will be great. As for Cars, the event will include a small exotic and performance car expo and an opportunity to test drive a Tesla. The NBIS keynote speaker will be Barry Schuler, the CEO of Raydiance and the former CEO of AOL. The 2010 NBIS will be on November 10.</span></span><br />
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<div>
<span style="font-family: Arial;"><span class="406003523-16082010">The NBIS is <strong><u>THE</u></strong> North Bay event for early stage startups to pitch to angels and VC's. Up to 200 investors are expected to attend.</span></span><br />
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<div>
</div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010">So...clearly the NBGIF and the NBIS are complementary events. The NBGIF should appeal to any growing business in the North Bay. The NBIS makes sense for angel investors, aspiring angel investors, and VC attendees along with startup company presenters. This fall will be a good time for small businesses and startups in the North Bay to pitch their companies.</span></span><br />
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<div>
</div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010"><span class="406003523-16082010"><em>Full disclosure...I am on the organizing committee for both events representing the North Bay Angels.</em></span></span></span><br />
<i><br /></i></div>
<div>
</div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010"><strong>2010 North Bay Growth and Innovation Forum</strong></span></span></div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010">October 20, 2010</span></span></div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010">Hyatt Vineyard Creek Hotel</span></span></div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010"><span class="406003523-16082010"><span class="Apple-style-span" style="border-collapse: collapse; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 12px; font: normal normal normal 16px/normal 'Times New Roman';"><span style="font-size: small;">More info: </span></span></span><a href="http://bit.ly/UP4MB">http://bit.ly/UP4MB</a></span></span></div>
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<b></b><br />
<b></b><br />
<b></b><br />
<b></b><br />
<b><div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010"><strong>9th North Bay Investors Summit</strong></span></span></div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010"><span class="Apple-style-span" style="font-weight: normal;">November 10, 2010</span></span></span></div>
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<span style="font-family: Arial;"><span class="406003523-16082010"><span class="Apple-style-span" style="font-weight: normal;">Sonoma Mountain Village Event Center</span></span></span></div>
<div>
<span style="font-family: Arial;"><span class="406003523-16082010"><span class="Apple-style-span" style="border-collapse: collapse; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 12px; font: normal normal normal 16px/normal 'Times New Roman';"><span style="font-size: small;">More info: </span><a href="http://conta.cc/anKkFX"><span style="font-size: small;">http://conta.cc/anKkFX</span></a></span></span></span></div>
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</b></div>
</span></div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com1tag:blogger.com,1999:blog-7315358868558850120.post-59757346589571089042010-08-06T14:46:00.000-07:002010-08-06T14:46:25.961-07:00Getting Voted off the Island?<div class="MsoNormal">Getting Voted off the <st1:place w:st="on">Island</st1:place>?</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Most people in the <st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city> have lived somewhere else. So…they will know what I mean. I remember when we lived in <st1:place w:st="on">Silicon Valley</st1:place>. We thought nothing about driving 15 or twenty miles to go shopping, go to dinner, etc.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">But in the <st1:city w:st="on">North Bay</st1:city>…people in <st1:city w:st="on">Napa</st1:city> don’t like to drive to <st1:city w:st="on"><st1:place w:st="on">Sonoma</st1:place></st1:city>. People in <st1:city w:st="on">Sonoma</st1:city> avoid going to <st1:city w:st="on"><st1:place w:st="on">Napa</st1:place></st1:city>. Petalumans hate driving to Target in <st1:city w:st="on">Rohnert Park</st1:city> or <st1:city w:st="on">Novato</st1:city> let alone making the trek to <st1:city w:st="on">Santa Rosa</st1:city> or <st1:city w:st="on"><st1:place w:st="on">San Rafael</st1:place></st1:city>. Santa Rosans don’t go to the great restaurants in <st1:city w:st="on"><st1:place w:st="on">Petaluma</st1:place></st1:city>. <st1:city w:st="on">San Rafael</st1:city> denizens won’t deign to go to <st1:city w:st="on"><st1:place w:st="on">Novato</st1:place></st1:city>. And then there is the biggest barrier of all – crossing the <st1:placename w:st="on">Golden Gate</st1:placename> <st1:placetype w:st="on">Bridge</st1:placetype> to <st1:city w:st="on"><st1:place w:st="on">San Francisco</st1:place></st1:city>.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">My wife and I call this the <st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city> island mentality. Nobody likes to leave their island.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">I believe this island mentality comes from the greenbelts and agricultural land separating the towns in the <st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city>. In the Silicon Valley and the <st1:place w:st="on"><st1:placename w:st="on">East</st1:placename> <st1:placetype w:st="on">Bay</st1:placetype></st1:place>…there is little to distinguish between cities. <st1:city w:st="on">Cupertino</st1:city> melts into <st1:city w:st="on">San Jose</st1:city> which is mostly indistinguishable from <st1:city w:st="on"><st1:place w:st="on">Santa Clara</st1:place></st1:city>. Who knows where the boundary is between <st1:city w:st="on">Berkeley</st1:city> and <st1:city w:st="on"><st1:place w:st="on">Oakland</st1:place></st1:city>? Up here, the towns are not only separated by green space, but also by “narrows” or “gulches” or other distinct geographical boundaries. Psychologically, I believe this drives an island mentality.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">The island mentality is good and bad. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal">On the good side – all of the towns have distinct personalities. <st1:city w:st="on"><st1:place w:st="on">Petaluma</st1:place></st1:city> has its ag and rivertown history, telecom valley office buildings, and all the cute old houses. <st1:place w:st="on">Sebastopol</st1:place> has its hippies and tie die. <st1:city w:st="on"><st1:place w:st="on">Napa</st1:place></st1:city> legitimately trumpets itself as the center of the wine universe. <st1:city w:st="on"><st1:place w:st="on">Sonoma</st1:place></st1:city>’s personality revolves around its plaza and its equally find wine. You get what I mean.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">On the negative side…the <st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city> ends up being parochial. The towns compete rather than cooperate. At one time <st1:city w:st="on">Petaluma</st1:city> and <st1:city w:st="on"><st1:place w:st="on">Novato</st1:place></st1:city> even tried to secede from their respective counties. How crazy is that? During the Civil War armed Petalumans started to head up to <st1:city w:st="on"><st1:place w:st="on">Santa Rosa</st1:place></st1:city>*. Wacky!</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">I think the <st1:city w:st="on"><st1:place w:st="on">North Bay</st1:place></st1:city> is the best place to live in the world. We need to work to keep it that way. We need to build a diverse regional economy. With technology and tourism. Wine making and manufacturing. Telecom and agriculture.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">In 2004, my wife, daughter and I moved to <st1:city w:st="on"><st1:place w:st="on">Sacramento</st1:place></st1:city> for me to work at a venture capital firm. When we left, we felt like we were being voted off the island. Of course, we could only stay away for one year.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">As I look for my next gig, I hope we don’t get voted off again.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span class="Apple-style-span" style="font-size: small;">* they only made it to the Washoe House where they got drunk and headed home…but that is another story.</span></div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-79924640574473307122010-07-16T14:59:00.000-07:002010-07-16T14:59:40.863-07:00Will you be a net exporter of goods or services from the North Bay region?<span class="Apple-style-span" style="color: #555555; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 21px;"><b>Will you be a net exporter of goods or services from the North Bay region?</b></span><br />
<span class="Apple-style-span" style="color: #555555; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 21px;"><br />
</span><br />
<span class="Apple-style-span" style="color: #555555; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 21px;"><a href="http://www.sonomamountainbusinesscluster.com/startup.html">The Sonoma Mountain Business Cluster (SMBC)</a> adopted this question as one of their criteria for inclusion in their incubator. Full disclosure: I understand the SMBC borrowed this mantra from Ohio Economic Development transplant Michael Adler. I am not sure where Michael stole it.</span><br />
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</span><br />
<span class="Apple-style-span" style="color: #555555; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 21px;">Why is being a net exporter important? First of all, a company that exports goods or services creates jobs. Often $100K jobs. But, more importantly, It brings new dollars into the region. New dollars creates incremental demand. Incremental demand drives economic growth. Economic growth drives even more jobs. The multiplier effect.</span><br />
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</span><br />
<span class="Apple-style-span" style="color: #555555; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 21px;">What doesn't a net exporter do? A net exporter doesn't necessarily drive primary sales tax revenue. So...cash-strapped cities and counties, with their immediate need for revenue, are more likely to focus Economic Development efforts on retail, tourism, etc. which drive sales tax revenue. Don't get me wrong...tourism and retail are great. Tourism does bring money into the region. And both tourism and retail create jobs. But they create $10/hr jobs...not $100K/yr jobs. </span><br />
<span class="Apple-style-span" style="color: #555555; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 21px;"><br />
</span><br />
<span class="Apple-style-span" style="color: #555555; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 21px;">The irony is that the incremental economic growth driven by net exporters likely drives more sales tax dollars overall. But those sales tax dollars accrue to the region, not one city. So, cities are generally driven to focus their Economic Development dollars on retail and tourism. I guess it is a prisoner's dilemma. If everybody cooperates, everybody wins. But if one city "cheats", they win more than the others.</span><br />
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</span><br />
<span class="Apple-style-span" style="color: #555555; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 21px;">More on North Bay regional economic development in a future post.</span><br />
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</span>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-63229069728364669432010-06-30T13:16:00.000-07:002010-06-30T13:16:10.956-07:00Why the Accidental CFO?<div class="MsoNormal">Why the Accidental CFO?</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">People ask me why I jokingly refer to myself as the accidental CFO. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal">If you look at most CFO job descriptions, they say “CPA required” or at least “CPA desired”. The textbook CFO career path is:</div><div class="MsoNormal"><br />
</div><ul style="margin-top: 0in;" type="disc"><li class="MsoNormal" style="mso-list: l1 level1 lfo1; tab-stops: list .5in;">graduate with a bachelor’s degree in accounting</li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1; tab-stops: list .5in;">go work for the big 6 (or is it 4 now, I cannot keep track)</li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1; tab-stops: list .5in;">work in audit</li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1; tab-stops: list .5in;">take (and of course pass) the CPA exam</li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1; tab-stops: list .5in;">continue to work in an accounting firm for years and years</li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1; tab-stops: list .5in;">get an MBA in finance at night from a top school</li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1; tab-stops: list .5in;">leave the accounting firm for a private company as a controller</li>
<li class="MsoNormal" style="mso-list: l1 level1 lfo1; tab-stops: list .5in;">get promoted to CFO as part of normal succession planning</li>
</ul><div class="MsoNormal"><br />
</div><div class="MsoNormal">Does anybody know anyone whose career path was this smooth and predictable? Not anymore. But companies and recruiters persistently look for this holy grail.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Do you get the feeling that I don’t fit the mold? </div><div class="MsoNormal"><br />
</div><ul style="margin-top: 0in;" type="disc"><li class="MsoNormal" style="mso-list: l0 level1 lfo2; tab-stops: list .5in;">I have an engineering bachelor’s degree. </li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2; tab-stops: list .5in;">I tried taking an introductory accounting class in college. I got an A+ but was bored out of my gourd. I guess that accounting class in high school helped. That is when I switched to engineering.</li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2; tab-stops: list .5in;">I have never worked as an accountant and I don’t have a CPA</li>
<li class="MsoNormal" style="mso-list: l0 level1 lfo2; tab-stops: list .5in;">I have an MBA from a top school – but it is a general management degree</li>
</ul><div class="MsoNormal"><br />
</div><div class="MsoNormal">So…how did I become a CFO?</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">In 2005, after 6 years in the Venture Capital/Private Equity industry, I found myself in career transition. A friend of mine was the CEO of a company that had almost won a $7M contract. He needed help. I had been on the board of directors of his company for several years. So…I agreed to help. We won the contract. It ended up being a >$10M project. But now I needed a title. We decided on CFO…the rest is history.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">The Accidental CFO.</div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-3600346271405498132010-06-29T17:09:00.001-07:002010-06-29T17:09:47.100-07:00The world rewards confidence, not competence.<div class="MsoNormal">The world rewards confidence, not competence.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Friends and colleagues know this is a “Roy-ism”. I say it all the time. Last week I got reminded of it big time.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">My daughter was scheduled to sing in church. She practiced all week. Nobody in her class knew those songs and dances better than her. Yet…when it was time to go forward, she balked. She wouldn’t go up there! Despite being incredibly competent, she just didn’t have the confidence (this time) to sing in front of a crowd.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">I hope we can teach my daughter this lesson early because this “Roy-ism” doesn’t just apply to church choirs, it really applies to school, to business, and to life in general. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Of course, it is best to be confident and competent. But that almost goes without saying.</div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0tag:blogger.com,1999:blog-7315358868558850120.post-21919159987655275322010-06-24T13:25:00.000-07:002010-06-24T13:25:22.246-07:00Is there a role for local HR firms with a PEO?<div class="MsoNormal">Is there a role for local HR firms with a PEO?</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">I am sure my last post has successfully pissed-off all my HR consultant friends. But…I stand by it…for VC-backed startups. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal">However, there are some things to remember. First of all…most small businesses are not VC-backed startups. Second, most small businesses have less than 10 employees. By-the-way…this obviously includes startups at the very beginning. </div><div class="MsoNormal"><br />
</div><div class="MsoNormal">In general, PEOs will not work with companies with less than 7-10 employees. This leaves a significant portion of small businesses un-served. However, the owners of these smaller businesses need HR advice and services also. This is where HR consultants have their advantage. Once they are in, if they do a good job, they can grow with the company.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">However, if a company (especially a startup) does choose to work with a PEO, there does remain a role for HR consultants. PEOs are great in providing payroll, medical benefits, forms, advice, etc. But…by their very nature, they operate through centralization and scale. They are unlikely to be hyper-local like an HR consultant. They cannot be on site very often. But employees need someone to talk to. Often…an 800 number is not good enough.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">When a company works with a PEO, they need to assign an on-site coordinator -- somebody to be the liaison between the company and the PEO. Usually this is the person employees approach first with HR issues. Often it is the CFO. But…even this diminished HR role is not a good use of the CFO’s time. This is where an outsourced HR consultant can still help when a PEO is involved. Being the employee contact, working on projects with the PEO (like an employee manual), and helping manage the PEO-company relationship.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Now I have probably succeeded in upsetting my PEO friends as well. OK…so if everybody is upset with me, I have probably been fair and balanced.</div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com1tag:blogger.com,1999:blog-7315358868558850120.post-36376227827156451902010-06-23T10:42:00.000-07:002010-06-23T10:42:15.351-07:00Why all VC backed companies should use PEO’s.<div class="MsoNormal">Why all VC backed companies should use PEO’s.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Recently, I became absolutely convinced that VC backed companies should use PEO’s (Professional Employee Organizations). The failure of a prominent, well funded, local VC backed company proved my point. But I will talk about that later.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">When a VC backs a company, they back an entrepreneur, a team, a business model, and possibly some technology. The VC wants this team to be laser-like focused on the business model and the technology. Not bogged down by HR.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">But, while venture backed companies, by their very nature, are designed to become big companies, at the start, they are small companies. The have all the HR issues that a new small business entrepreneur has – no systems, no policies and procedures, no payroll processor, no benefit packages, etc. A PEO solves all of these issues.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Most small businesses make lots of rookie HR mistakes. Startups want to avoid them. A PEO can help (but not guarantee) that startups will avoid them.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Startups are growing fast. They hire people quickly…and there is often a lot of employee churn. This brings a significant amount of HR burden. Even with good systems, processes, and procedures this is challenging. Without them, I guarantee it will be a mess.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Usually it will be the CFO or COO that bears this burden. They are rarely HR experts. They won’t like doing it and probably won’t do a great job. Also it distracts them from the business and what they were hired for – managing the company’s financials, raising money, and partnering with the rest of the executive team to drive success.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">But, back to my story. The clincher is Cobra. I ran into an ex-employee of the failed company I mentioned. This company was well funded, they had term sheets to fund the next round, and nobody expected it to shut its doors. But it did. Certainly the employees didn’t expect this. Anyway I ran into an ex-employee of that company. Tha employee lamented that because the company failed, she did not have Cobra.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">VC’s expect a significant percentage of their companies to fail. But, when a company fails, there isn’t Cobra. Nobody thinks about this when starting or joining a company. Many startup employees would not join startups if they knew this. A gap in insurance coverage can be disastrous for an employee and their family.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal">Startup CEO’s won’t necessarily care about this issue. All CEO’s are absolutely convinced that their company will be successful – failure won’t happen to their company so Cobra is not an issue. But…every CFO should care. And any HR manager WILL care. And finally, VC’s should care. VC’s want to build good relationships with the employees of startups…even for their companies that fail. Those employees might move on to the next great company. Leaving an employee without medical coverage is not a good way to foster and maintain those relationships. So VC’s should care. Every VC backed company should use a PEO.</div>jroymhttp://www.blogger.com/profile/01306370632610698959noreply@blogger.com0