Tag: Networking

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Benefits of Engaging Independent Consultants

Cutters, Alpharetta, GA

It was my kind of week! I was busy, but I enjoyed a lot of variety and entertainment. I had a productive meeting with one of my consultants, Paul, over cigars and brews; a conference call with my Latin America Managing Director; coffee meetings with two prospective new consultants; and a luncheon meeting with a potential client. I even had time to complete a few administrative tasks and worked on strategic issues. My visit with Paul took an unexpected turn (it became even better) when Jeff, an alumni buddy joined us at the bar. What a lucky break! I couldn’t have been happier to see him. Jeff is a master licensee developing a non-food franchise concept in the state of Florida. He is an excellent connection for Paul, given that Paul is selling an integrated project management software package for franchisers. It was great to catch up with Jeff, and even better because Paul was able to make an excellent new connection. Connecting great people is my favorite part of work.

 

The highlight of the week was meeting with my turnaround client to discuss the next phase of our work. The first item of discussion was her update on the remaining contract in Florida. She told me she had successfully ended that contract and helped her employees land jobs with the new contractor.  She said that she secured the equipment and supplies at a Lakeland, Florida-based storage facility. She went on to say that she plans to move this equipment to Atlanta when she finds an appropriate local storage facility.  This last point gave us an excellent opportunity to talk about coordinating Strategy with operations. I reminded her that the equipment left in Florida was purchased to support her employees. And, she has no further need for that equipment as she will be using subcontractors going forward. I applauded her for successfully extricating herself from her expiring contract. However, I advised her not to spend anything further on that equipment except as required for its sale. She took my recommendation to heart and will work with her attorney to ensure compliance with the bankruptcy court to dispose of that equipment. Resolving that issue, we moved on.

 

The first phase of this assignment resulted in clarification around my client’s business strategy going forward. Now, the client will use subcontractors to execute her contracts, to minimize her reliance on full-time equivalents. Making this change will increase margins, reduce risk, and result in the more effective use of her time. The client also agreed to move away from the public sector (State and Local Government Accounts) to focus on the private sector, both business-to-business and the consumer market. The next phase of my work is to rebuild the client’s business development function. This change in strategy requires an updated positioning statement and value proposition, key tools for generating new business. My responsibility is to help her grow the business through new channels, promoting existing products and services.

 

Key Deliverables for Phase 2:

  • Update Positioning Statement and Value Proposition
  • Update Promotional Material to Reflect New Strategy
  • Develop Ongoing Communications Forward/Public Relations Effort Via Email and Social Media
  • Update Online Presence i.e. LinkedIn and Company Website
  • Evaluate and Present Options to Employ a Service to Schedule Sales Calls

 

During our meeting, we discussed the importance of leveraging our efforts to ensure that we are generating the maximum benefit for the time allotted to that effort. We discussed following the Pareto Principle to guide our work. In other words, to concentrate on the 20% of the activity that generates 80% of the output. To transition out of Chapter 11, one cannot waste their time. My client must ensure that she is getting the maximum payback from her work.

 

Josh Sweeney Presentation on Culture First Hiring

One of the most significant benefits provided by outside consultants is to use us as sounding boards to work through issues big and small. As we have vast experience in various situations, we help our clients make sound decisions in real-time. For questions requiring further consideration, we understand the analysis needed to find the answers. The most important benefit we pass along may be our knowledge of the fundamental principles for setting priorities and managing time.

 

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

Author of: Fighting Alligators, Job Search Strategy For The New Normal
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Find a Stimulating Place to Work!

This past Wednesday I had the pleasure of enjoying a fine cigar and a few beers with my friend and colleague, Paul.  I haven’t seen much of him lately as he has been traveling.  Our cover story was to discuss his August presentation to ITB Partners and to update one another on our activities.  Well, we did all of that of course, but the real mission was to introduce Paul to my favorite cigar bar.  As a subscriber to my blog you already know that I strive to mix business and pleasure whenever possible.

 

I arrived a little early and noticed that Paul was already there, still in his car talking on his cell phone.  Later, he told me that he was finishing a business call.  Life in the digital age.  I continued inside and went straight for the humidor.  Although it was a bit understocked, I found a favorite brand and paid the attendant.   Paul entered the humidor at that time, so I showed him around.  He made his selection then we lit up, found seats at the bar and ordered our drinks.  After exchanging a few pleasantries, I told him the history of the establishment.  I pointed out that the venue is designed to accommodate people who come in during the day to enjoy a cigar while working.  They offer WIFI and provide ample outlets to charge electronic devices and to power laptops.  In addition to seats at the bar, there are several workstations and a private room suitable for meetings.  I went on to say that I am there at least one afternoon each week, usually working on my blog post.  I confessed that I have branded those visits as “going full Hemingway.”  That elicited a hearty chuckle from Paul.  He was impressed with the venue, including the humidor, and the layout.  We were off to a good start.

 

As the primary business reason for our meeting was to discuss his presentation, we got right into that topic.  Paul wanted to know how to position his talk as the audience wouldn’t be his typical prospects.  I told him that there were two main points to consider.  First, the members want to learn about him.  They want to know his background and how he came to be involved in his current situation.  Secondly, they want to know about his employer and the product he’s selling.  I said, “keep the discussion at 40,000 feet.”  They don’t need to get into the details, they just need enough information to make good referrals.  Also, I told him that I had adopted the Guy Kawasaki 10-20-30 rule for presentations.  Ten slides, twenty minutes, using a 30pt font.  As our members don’t need to hear a lecture or an infomercial, I advised Paul to facilitate a discussion.  He agreed to send me his draft and I offered to help arrive at the final product.  I noticed that his stress level had dropped significantly.  That could have been the effect of the cigar and beer.  Who knows?

 

We moved on to chat about his progress.  He is selling an innovative, one might say disruptive, integrated software package.  Paul began by telling me about a major QSR brand that contacted him to complete a request for proposal, (RFP).  I asked if an internal contact had provided the invitation.  He said no, but that it came by way of an obscure article that spoke well of his product.  I felt instant validation for my resent admonition on the importance of writing articles to leverage one’s brand.   He went on to say that his team built a solid relationship with the client by demonstrating their familiarity with franchising and the challenges of store development.  Apparently, his competition was represented by technicians who lacked knowledge of or an appreciation for the requirements to manage the challenges of a growing franchised restaurant brand.  I said that closing this deal should propel his business to a whole new level.  He agreed and moved on to talk about his negotiations with a non-food franchising concept.

 

Having heard of Paul’s recent successes, I reminded him that we are prepared to leverage his efforts through our social media and public relations platform.  He said he had forgotten about those benefits.  So, I spent the next few minutes reminding him about our capabilities.  He was sold.  My thoughts moved to other possible referrals.  By the end of our conversation, I had a long list of connections to make on his behalf.

 

Paul and I had a productive meeting, as I knew we would.   I have long understood the boost I get from spending time with friends and colleagues in a relaxed, fun environment.  If you don’t enjoy your work, you are probably pursuing the wrong career.  Your job should be fun, so find every opportunity to work in a place that stimulates your creativity and provides personal satisfaction.  You will be glad you did!

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

Author of: Fighting Alligators, Job Search Strategy For The New Normal

 

 

 

 

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ITB Partners Expands Reach To Latin America (LATAM)

Nancy Bugarini, Managing Director ITB Partners LATAM

“After months of preparations, I’m thrilled to share ITB Partners officially starts operations in Latin America, to better serve our clients, providing local execution to their global strategies with a multicultural approach.”  Nancy Bugarini, ITB Partners – LATAM

 

 

Nancy Bugarini has more than 20 years of proven experience working for multinational companies in CPG industries and as a consultant, with proven success in Strategic Negotiation, Business Planning, Trade Marketing, and Marketing. Nancy has worked with multiple products across categories and price segments. Nancy has collaborated in projects in Mexico, US & Central America.

Currently, Nancy represents ITB Partners in Latin America, as Managing Director for the region.

Meet The Team

 

Oscar Cardenas

Oscar Cardenas has more than 25 years of proven success working for multinational companies in traditional distribution channels (Wholesalers) in Mexico.

With proven success in Negotiation & Business Planning, Oscar has helped many different CPG brands to gain market share through distribution nationwide.

 

 

Felix Carrillo

Félix Carrillo has more than 20 years of experience developing strategic planning, business modeling, business process management and business intelligence for companies in different sectors (wholesale, manufacturing, professional services, financial sector, government, construction). He has developed projects in Mexico, the United States, Spain, Argentina, Colombia, and Guatemala. His expertise allows him to identify and recommend the key success factors for the business in order to improve its long-term results.

 

Fernando Mazin

Fernando Mazin is a Mexican Business Administration professional who has earned vast experience primarily in the sales and operations fields. Has lived abroad (USA and Chile) and developed his career by working for AAA global consumer products organizations such as Kellogg, Mars, Gerber, and other Mexican industrial leading companies in its fields, such as Condumex and Surfax.

 

Fernando implemented his first successful “Route to market” project in Mexico for Mars, nationally, which accounted to expatriate him to Chile in order to replicate the model in said country.

Other “route to market” initiatives in Fernando’s background are opening a commercial office and a laboratory (technical services and support) for Surfax in Colombia, combined with the exportation of several products to different countries in Central America, Chile, and Ecuador.

In 2005, founded Grupo Delfer, a consultancy firm with the mission to provide value-added services to develop businesses and people, as well as the route to market alternatives for commercialization, focusing in, but not limited to Mexico.

 

Rodolfo Rosales is a fully bilingual professional with an illustrious 10-year track record in executive coaching. He is the founder of IHR Sibils SC, a firm dedicated to implementing strategic solutions for executives facing complex business challenges. Sixteen years working with PeopleSoft as an international eBusiness consultant, together with his current multicultural client base, have provided him with significant experience delivering services in various regions and with different cultures in South America, the Caribbean, the United States, and Mexico. Rodolfo supports his clients to make the most of their unique management skills, using his out-of-the-box understanding, combined with an analytic mindset and heightened active listening skills to foster client development. Through his hands on, dedicated and client-focused work, Rodolfo has consistently surpassed customer expectations; and his expansive knowledge of collaboration, mediation, and conflict management, are continually sought after by clients.

 

Claudia Tello

Claudia Tello has more than 20 years of experience in visual communication, her creativity has led her to be internationally awarded in several poster competitions, such as Poster Ecuator Bienial 2016 & 2018.  BIceBé Bolivia 2013 & 2017, Venezuela 2016.

Her posters have been exhibited in collective exhibitions at Iran, Korea, Italy, Geneva, México, France, China among others. She is part of the Mandela Poster Project in a permanent exhibition at NELSON MANDELA CHILDREN HOSPITAL, South Africa, within Mexico her work has been exhibited in places like Remembrance & Tolerance Museum in Mexico City.

She coordinated the 2012 edition in Mexico for Draw Me Democracy, for the organization Poster For Tomorrow.

Founder and general coordinator of “Escucha mi Voz” project since 2012, dedicated to developing Educational campaigns in favor of civic spirit & human rights using design & art, every year hundreds of artists from around the globe, participate in the yearly contest held by the organization.

Due to the importance of her work, Claudia has been the recipient for several grants, including being awarded twice by the US Consulate in Guadalajara and SOCAP 2018 Scholarship at San Francisco CA. Miller Center GSBI program alumni.  Scholarship “Fondo Semillas” 2019.

She has been invited to collaborate as an instructor by prestigious private universities in the country, she has also participated as a speaker, including TEDx talks.

 

Gabriela Zenteno

Gabriela Zenteno is an Experienced LATAM Marketing Director with a proven history of working in the top financial services and FMCG industries such as Unilever, Nestlé, FEMSA, Brystol Myers and American Express. Strong and solid marketing professional skilled in Digital Strategy, Business Planning, Customer Acquisition, Integrated Marketing, Business Insights, Product Innovation, and Advertising.

Regional Marketing leader with 25+ years of successful experience in massive consumer and financial companies, focus in marketing strategy, activation and acquisition strategies, market research, new products development/launch, strategic planning, advertising development, scorecard tracking, spend stimulation activities and customer/shareholder value delivery.

 

 

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Are You Asking The Right Questions?

Some things people do really irritate me. Wasting my time is at the top of the list. Insulting my intelligence is right up there, as is taking too long to get to the point.  People who are condescending, and those who like to grandstand round out my top five. It is particularly annoying when one incorporates all these irritants into one act, like asking a question.  I have witnessed people take a simple, but important question, and turn it into a three-act play.  These questions begin with a prelude which is meant to put the question in context, act one.  The actual question is act two.  Act three is an admonition of consequences if the inquisitor isn’t satisfied with the answer.  Often, these questions are somewhat insulting, designed to make the subject uncomfortable or defensive.  This type of question, asked during a business meeting, is counterproductive.

 

If you’ve ever watched a press conference, you know what I mean.   This behavior is on display during the daily briefing of The White House press corps. It seems to be less about asking a thoughtful question to solicit information than about drawing attention to the inquisitor.  You will also see this style on display during question-and-answer periods after someone has delivered a speech. It is particularly amusing to watch college students attempt to demonstrate their brilliance and trip up the speaker.  It happens during shareholder’s meetings too.  Sometimes, if the inquisitor is sympathetic to the subject, a leading question will be asked to guide the answer to a welcoming place.  These are known as “puffball” questions.  I suppose I’m like most people; depending on our backgrounds, we take a lot of things for granted. I have assumed that professionals have been trained to ask effective questions. That is a bad assumption.

 

Questions are a powerful tool.  Asking the right question in the right way can open a dialog leading to greater insight and a significant breakthrough.  The ability to ask questions that result in an exchange of useful information is fundamental to effective leadership.  It is a skill that is necessary for employee recruiting and selection as well as choosing new vendors.  Skillful managers ask questions that inspire and empower their team. The ability to ask the right questions is required to define a problem and find its solution.  And yes, questions are required to hold our politicians accountable.  There is a direct correlation for success in one’s profession and the ability to ask good questions.

 

So, what are the attributes of a good question?  Whereas the specific question will depend on the situation we can agree on some fundamentals.  First, you must be clear as to the information you seek.  What do you want to learn?  A good question is positive, non-threatening, and respectful to support an open, free flow of information.  The likelihood of receiving useful information from someone you’ve insulted is not great.  The question should be carefully worded, using a common language to ensure its meaning is clear and understood.  For most situations, open-ended questions will yield the best result.  Although, closed-ended, direct questions may be more effective for problem-solving situations.

 

Having been trained to conduct interviews, and for problem-solving in general, I’m confident in my ability to ask questions that generate useful information.  This skill was honed during my corporate career and twenty years interviewing people as an Executive Recruiter.  While executing my coaching and leadership responsibilities I’ve learned that what may appear to be the seminal issue at the beginning of a conversation is often a symptom of the actual problem.  One can only get to the root problem by asking follow-up questions.  In this case, asking ‘why’ questions may be most effective.  My friend Faith calls it peeling off the layers of an onion.

 

The flip side of asking good questions is to be a good listener.  Silence on the inquisitors’ part can draw out a more comprehensive response.  Body language can be helpful as well.  You may have seen an interviewer thoughtfully nodding during their subject’s response.  This demonstrates acceptance, encouraging the subject to continue.

If you want to improve your overall professional skill set, learning how to ask effective questions is a great place to start.  If you want to be viewed as a serious person and a good team member avoid questions that resemble a three-act play.  Respect your subject and your team by asking questions that elevate the conversation.

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

Author of: Fighting Alligators, Job Search Strategy For The New Normal

 

 

 

 

 

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Alumni Meet and Greet!

For the past few weeks, I’ve been working on an extra-curricular event for the local chapter of my Alumni Association.  The leadership wanted to organize an event to re-energize the chapter and decided that a Happy Hour Meet and Greet would be ideal. It is difficult to create events that appeal to everyone, but you must start somewhere.  An opportunity to share appetizers and a cocktail or two with fellow alums seemed like a good way to begin Summer, and to reignite the chapter.  Organizing cocktail parties is right in my wheelhouse, so I was compelled to volunteer.  For those of you who have followed my posts, this isn’t a surprise.

 

Organizing an event in Atlanta is no easy task.  The Atlanta metro area is comprised of 6 million people living in 30 counties.  Our 6,000 alumni are spread over a huge geographical area.  Traffic is a big consideration, especially during rush hour.  The ability to use public transportation reduces a lot of risk and anxiety which should enhance the value of the event.  For those familiar with Uber or Lyft, Midtown is a target-rich environment.  Our group chose Thursday, June 27 as a good day for our Meet and Greet.  As it falls between Memorial Day and Independence Day we won’t be competing with any holidays.  Thursday is usually a good day as it is close to the weekend, without the obvious family conflicts.  We selected a central location in Midtown convenient to MARTA.    So, I did my part.  Now it’s up to the communications folks to bring the alums.

 

I didn’t become active in the alumni association until 2003, after living in Atlanta for seven years.  Prior to 2003, my corporate career had me moving every three years and I had little time to think about alumni activities.  Also, I had family obligations to consider.  Besides, the alumni association couldn’t find me until I put down permanent roots.  So, I attended a few events and made some new friends, including a fraternity brother I hadn’t seen since college.  Eventually, that led to a seat on the National Alumni Board which lasted four years.

 

People become active in their alumni association for different reasons, but they all begin with a common bond; they shared an experience earning a degree.  Each member joins an alumni chapter when the time is right, and they have a compelling reason.  An alumni affiliation is especially relevant if you are new to a city, working to establish yourself. At the most fundamental level, it’s about making friends.  As with any other interest group, there is a generational element in play.  For more mature alumni, it may be about giving back to the community by sharing their experience (mentoring) or financial resources.   My reason for becoming active was multi-faceted.

 

I have spoken before about the value of participating in one’s alumni association for career development.  I continue to be surprised, however, that people are slow to make that connection.  It may be a fundamental misunderstanding about networking.  Most people think of networking to find a job and to further their career.  However, networking is a vehicle to achieve an objective by meeting people who can help you.  It is also an opportunity for you to help others.  It’s is a two-way street.  It isn’t exclusively for building one’s career.  People join interest groups for a variety of reasons that are not career oriented.  There are groups to satisfy every interest imaginable.  Members of each group are busy looking for people who can help them, or whom they can help.  If you want to be a better fisherman, you will hang out with other fishermen to improve your skills.  The point is, every group begins with a common interest to attract members.

Many view participation in their alumni association as one-dimensional.  They think it’s all about drinking beer and watching football games.  I admit, there is nothing like a great athletic program to generate attendance for game-watch parties.  But that is just one dimension of the alumni experience.  The reality is that people participate in their alumni association for different reasons, sometimes with multiple goals in play.

 

I am looking forward to our Meet and Greet.  I hope to catch up with old friends and to make some new friends.  Who knows, I may make a great business connection.  It’s happened before.

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

Author of: Fighting Alligators, Job Search Strategy For The New Normal

 

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Pan Asian-Pacific American Heritage Month

A week ago, Saturday, my wife and I attended an event hosted by the Pan Asian Pacific American Council of Georgia, celebrating Asia-Pacific American unity. We were invited by a client of Laotian descent who is very active in the Gwinnett County, Georgia community.  I enjoy experiencing different cultures, although it’s usually by sampling their food. However, I lived in Hawaii for three and one-half years, during junior high and high school, so I have some experience with the Asian community.  I knew this event would be fun.

 

Pan Asian Opening Ceremony-2 5-18-2019

The evening was a celebration of their successful blending into the American mosaic.  It began with a flag ceremony; the American flag leading the way, followed by women in traditional costumes, carrying the flags of their native lands. Everyone stood for the Pledge of Allegiance, followed by a solo rendition of the national anthem.

 

The atmosphere was a mixture of pride for their heritage and old fashion American patriotism. The event featured traditional music, songs, dance, and wardrobes.  The drummers were awesome!  Naturally, events like this are a magnet for politicians, so the agenda featured speeches by local representatives.  Thankfully, they were brief and unremarkable.  The last event of the evening, just before my wife and I had to leave, was the scholarship presentation to new high school graduates. It was symbolic of the community’s progress.

 

May is set aside to honor Asian Americans and Pacific Islanders. During this month, we celebrate their culture, traditions, and history.  May was chosen for this recognition as events significant to the Asian Community occurred this month.  The first Japanese immigrants to the United States arrived on May 7, 1843, and the completion of the transcontinental railroad was May 10, 1869.   Many of the workers who laid those tracks were Chinese immigrants. On October 5, 1978, President Carter signed legislation recognizing Asian American Heritage Week. In 1990, President George H. W. Bush signed a law to expand this recognition period to a month. At that time May was officially designated as Asia-Pacific American Heritage Month.

 

The following Tuesday, I was scheduled to meet my client at her office in Lawrenceville, the Gwinnett County Seat.  We planned to meet at 1:00 p.m. to review a draft report of the initial assessment phase of my work.  My client saw an opportunity to add a free lunch to our agenda. She invited me to join her for the Pan Asian Pacific Islands American Appreciation Day at the Gwinnett County Courthouse.  According to the U.S. Census Department, the July 1, 2018 estimate for the population of Gwinnett County was approximately 927,781 citizens. Americans of Asian and Pacific Island heritage count for 12.3% of the total population, making them a very significant constituent group.

 

We were surprised to learn, however, that what she thought would be a quick lunch and proclamation, turned into a 2 1/2-hour affair that included speeches from County Commissioners, a panel discussion, and then a recognition ceremony at the beginning of a meeting of the County Commission. It’s safe to say that whenever politicians get involved in an event, the time commitment will increase.  As I had set aside the entire afternoon for my client, I wasn’t fazed a bit.  In fact, I enjoyed it.

 

The event began with a welcome from a County Commissioner, as we enjoyed our lunch, followed by a few words from an Asian American Commissioner.  A Panel Discussion was the next item on the agenda.  The Panel included a Muslim American, two Vietnamese Americans of different generations, a Chinese American, and an Indian American. All are first-or-second-generation Americans, many coming to the United States as a result of the Vietnam War. The gist of the discussion was about aligning around common interests and challenges to move the community forward. I found some very interesting parallels to those of a business start-up trying to establish itself in the marketplace. They spoke to the same points I had made in an earlier post on networking; the key to success is to interact, participate, and to engage.

 

I was impressed by the pride these Asian-Americans have for their heritage and appreciation for their American Citizenship.  Clearly, their assimilation hasn’t been easy, but they are thriving and optimistic.  My takeaway is that one’s success in life requires a commitment to a goal.  To achieve that goal, one must interact, participate, and engage.  This recipe holds for building a business, assimilation into the community, and for gaining political power.

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

Author of: Fighting Alligators, Job Search Strategy For The New Normal

 

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Demystifying Blockchain and the 3 Supply Chains

By Antony Francis  antony.francis@lakehillpartners.com

April 11, 2109

 

About 20 years ago, I produced a diagram showing that there are 3 interconnected supply chains: The Physical, the Informational and the Financial. All three, of course, interconnected and feeding off each other.

 

This interconnection is important. The quicker you get information into the transaction set from physical activities, the quicker you get an ASN and the quicker you get a POD and can invoice your customer. Time is money.

 

There was also much talk about Global Inventory Visibility. We dreamt of the ability to know what was inside each box on a pallet, but the private batch processed networks and lack of internet-driven transactions made this a pipe dream. I remember discussing with a client in the late ’90s whether we could know within seconds at the UK HQ whether an item had been sold in a store in Tokyo and immediately pulse out a replenishment shipment that same day. Of course, today we would say: “no brainer, we can!”; back then, the lack of inter-connected systems and batch processing of file exchanges made this a dream scenario.

 

So, where does Blockchain come into the picture? Firstly, it is important to define what we mean by Blockchain. There are two pieces to Blockchain when it relates to supply chains. One is the distributed on-line ledger that enables one to track the work-flow process from PO to an approved A/P transaction on the buy-side and a sales invoice into A/R on the sell side.

 

A recent article described Blockchain as an open, distributed ledger that can record transactions between two parties efficiently, securely and in a verifiable and permanent way.

 

Some of the key elements of Blockchain were explained by Iansiti and Lakhani in a recent Harvard Business Review piece:

  • Users of a Blockchain have access to all the data so that no one person has control over the information
  • Each record is linked to the ones before it, once entered any alteration would create a snowball effect in the blockchain. Algorithms are employed to ensure the accuracy of the data.
  • There is no need for a centralized entity, for example, a bank, individual transactions can be executed directly.
  • Each user has a password to access the blockchain, each user can share their personal information or remain anonymous. (Ed. I differ with this last point because, in my opinion, and as explained above, we need a full audit trail on each transaction).

 

So, let’s focus on the transactional work-flow process side initially, the Distributed Ledger. Transparency is becoming increasingly important for retailers; more and more people want to know how and where goods are made. This goes hand in hand with ethics and sustainability. For retailers to understand if they are operating in the most sustainable way, if the products they buy are made in the factory they believe it to be, they need to know information about the supply chain. Blockchain can help with this type of data tracking. When transactions occur along the supply chain, a digital record occurs at each step, thus providing a full audit trail.

 

Consider how business works today. Keeping ongoing records of transactions is a core and necessary function of any business. Those records track past actions and performance and guide planning for the future. They must, however, operate as an event manager and keep a fully detailed history of who made changes and when. Many organizations have no master ledger of all their activities; instead, records are distributed across internal units and functions. The problem is reconciling transactions across individual and private ledgers takes a lot of time and is prone to error.

 

In a blockchain system, the ledger is replicated in many identical databases, each hosted and maintained by an interested party. When changes are entered in one copy, all the other copies are simultaneously updated. So as transactions occur, records of the value and assets exchanged are permanently entered in all ledgers. There is no need for third-party intermediaries to verify or transfer ownership.

 

“Smart contracts” may be the most transformative blockchain application. These automate transaction approvals as negotiated conditions are met. For example, a smart contract might send a payment to a supplier as soon as a shipment is delivered, and the 3-way match is completed. If the product had a GPS beacon, it would automatically log a location update that, in turn, would trigger receiving data. Some IoT devices can even record if there was a change in temperature or shock damage.

 

When the Internet cloud emerged and started achieving widespread use, technologies like XML were predicted to replace EDI. Rumors of the death of EDI have been greatly exaggerated. The short answer is that EDI works. Companies have invested in it over many years. It may well have been moderately painful to get it up and running, but now it works. Even today, a certain set of core EDI messages (around the buy-sell-ship-pay transaction lifecycle) have and continue to enjoy widespread adoption and are almost universally required by major retailers and manufacturers. It is very prevalent in the Freight Forwarder community. The good news is that Blockchain feeds of all of these data sources.

 

Consider the situation today with B2B networks: Suppose a given supply chain process involves a buyer, seller, and third-party logistics provider. Today, information flows between these entities are typically one-way and point-to-point, either through EDI or XML-based messages or other mechanisms, such as API-based interactions. It is often the case that a buyer and seller might exchange certain messages, but an intermediary logistics service provider doesn’t see those messages. Or a seller and logistics provider might exchange certain messages not exchanged with the buyer. Events representing the exchange of B2B documents, for example, could be recorded on a blockchain and made visible to all participants in a supply chain process. In addition, blockchain could record supplemental events, such as those provided by IoT and smart devices, providing a more detailed synthesized record of all information flows. The actual exchange of B2B documents that occurs today can continue to operate as is, and a blockchain could simply provide a shared visibility “overlay.”

 

Such platforms will save the global shipping industry billions of dollars a year by replacing the current EDI and paper-based systems, which can leave containers in receiving yards for weeks. What if tariff codes, classification data, origin information, import and export certificates, customs values, clearance status, and all further required information about goods were available for all involved parties to access and complete through one unique ID, anywhere and anytime, and protected against manipulation thus delivering the same significance as certificates, seals, and signatures?

 

Permissioning inside blockchain gives you the confidence that you can control your information and grant access only to those you want to grant access to.

 

Lakehill Partners has a long history of systems integration and business process redesign. Let us help you manage the way forward.

 

For more information on this subject, please contact Antony Francis at antony.francis@lakehillpartners.com.

 

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

Author of: Fighting Alligators, Job Search Strategy For The New Normal

 

 

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Mentors, Coaches, and Networking

Josh Sweeney Presentation on Culture First Hiring

This week I received an article from my friend, Faith, which she described as ‘must read.’  When Faith sends me a ‘must read’ article, I jump on it!   This article was an excerpt from The Complete Guide to Building Your Personal Brand, a book written by Neil Patel and Aaron Agius.  Actually, the article is chapter 6, How to Connect With Mentors.

 

 

The article begins by stating that “74% of hiring managers, believe that job seekers need the support of a mentor, counselor, or job coach whereas, only 40% of job seekers actually have a mentor to help them through the process.” They quoted Madeline Slutsky, Chairman of the Career Advisory Board and Vice President of Career Services at DeVry University who stated that “job seekers are doing themselves a huge disservice by ignoring the wealth of guidance and insight a mentor could provide.”

 

 

They quoted Rachel Louise Ensign of the Wall Street Journal who said that “a mentor can help a young worker answer tough questions about his or her career path and get perspective on the industry.  The relationship may even help you eventually land a new job.”

 

 

After the setup and further prose on the value of mentors, the article laid out a systematic approach to identify a mentor, how to engage the prospective mentor, and the need to formalize a structure for a productive relationship.

 

 

This post was clearly meant for someone beginning their career, a primer as it were, which is fine.  It’s an important topic, worth discussion.  There’s so much to learn about navigating organizational cultures that one needs a mentor or coach to help accelerate their learning.

 

 

I find it useful to distinguish between the work of a coach and mentor.  Although there may be some overlap in their approach, there is a difference.  A mentor is more of a strategist and generalist whereas a coach is more tactical and specific.  This point is a generalization, of course, as mentors can be strategic or tactical, depending on the situation. In my experience, mentors are people you call on to better understand the dynamics of a situation. They are guides.  They don’t tell you what to do but help you learn by providing options to consider.  A coach, on the other hand, helps you develop skills and provides feedback and encouragement.  Another important distinction is that coaches are often paid for their services.  Mentors are volunteers who gain satisfaction by giving back.

 

 

The situation is relevant as well.  A mentor or coach appropriate for career development on the job may not be suitable to help you during a job search.  A career coach experienced in job search will provide relevant tactical support for resume preparation, networking effectiveness, and interviewing skills, to name a few.

 

 

I couldn’t help but think that finding a mentor is a subset of building a network to support your career.  That thought sparked my thinking on a broader level.  Faith’s recommendations tend to do that.  I was reminded of the chapter I’d just read from Strategic Connections.  Those authors speak about the importance of creating teams to accomplish different objectives.  They say that, depending on the nature of the objective, different personality types are required to achieve the objective.  They identify 14 different archetypes as follows:

 

 

  • The Sponsor
  • The influencer
  • The Cheerleader
  • The Wise Elder
  • The Novice
  • The Heart
  • The Wizard
  • The Brain
  • The Critic
  • The Guru
  • The Sarge
  • The Promoter
  • The Creative
  • The Global Citizen

 

 

Thinking about the issue further, finding mentors and coaches is part of building your network. You’ve probably been on different teams from time to time, both at work and play, so you have experience.  To achieve important goals, we often need to assemble a team.  Depending on the nature of the objective, the team may be broad, or it may be small.

 

 

From a broader perspective, the issue is about building a network of people with diverse skills and perspectives who can be a resource to you.  I believe it’s about developing relationships based on mutual respect and interests.  You’re not only developing a team to support your needs; you’re a member of your contacts’ teams.  Expect to be called on when they need you.  Make sure to answer their call.

 

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

Author of: Fighting Alligators, Job Search Strategy For The New Normal

 

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Houston, We Have A Problem!

I swear, I must have been transported into an alternate Universe this week, where I was an actor in a sitcom.  Something resembling “I love Lucy.”  You know how sitcoms are written, there is always the main plot with a few sub-plots working.  By the end of the show, all the plots converge on one common theme. Yes, I was living through a sitcom episode in my alternate Universe.

It began a week ago Friday evening when my wife’s car wouldn’t start.  She was at a job site which required the car to be towed to the nearest Dealer.  It sat there until Monday when the Service Department opened.

As she is a residential contractor, she rented a car to keep her projects on track.  Unfortunately, she fell in love with the rental and decided it was time for a new car.  It must have been the electronics package.  Naturally, I protested!  Her car is ten years old but hasn’t even cracked 100,000 miles.  In fact, it is very reliable and has had few problems.  From my perspective, the car isn’t even broken in.  We have been married for 43 years, so I knew how this would unfold.  My best logic would be deployed to no avail.  I could only hope to minimize my losses by working at the margins.  By the beginning of the week, we weren’t speaking much.  Houston, we have a problem!

I realize that most purchases are made on emotion and later justified by tortured logic.  Surprisingly, I have come to believe that is not limited to the consumer world.  All too often I have seen that scenario play out in the business world.  This is was our sub-plot.

Monday, I met with a senior consultant for the local office of a National outplacement firm.  He invited me to explore an opportunity to collaborate. I told him how we help our members understand and adapt to the new employment paradigm.  I explained my view that we are all ‘free agents’ in a dynamic environment.  Professionals will move between W-2 and 1099 status as tenures become shorter and shorter.  We have little control over the employment situation created by the digital transformation of the economy.  He invited me back to speak to his clients.

Tuesday, I moderated the monthly meeting of the BENG Atlanta Chapter.  Our featured speaker, Erica McCurdy, a Master Coach, and ITB Partner facilitated a discussion entitled “Not every problem has a solution.”  The gist of her message was don’t confuse situations with problems. There is a difference.   A situation is a state of being; a confluence of events beyond one’s control.  Situations require one to adapt whereas problems require solutions.  Was it merely a coincidence that I was hearing this message from Erica?

It’s useful to know the difference between problems and situations to focus your energy on things you can change.  If you try to change things that cannot be changed, your state of mind will suffer.  By resolving things that can be changed, you will reduce stress and improve your life, especially if you eliminate unproductive effort.

Successful people view problems as opportunities to grow, improve, and adapt.  For them, problems are a part of life.  Their positive attitude toward problem-solving improves their outcomes.  Experience makes future events easier to traverse.  We should accept problems as a normal, unavoidable condition of life.

I spent the rest of the week evaluating situations and problems.   As I dissected what I assumed were problems, I realized that some were situations.  In these cases, I found opportunities to employ my leadership skills.

This week unfolded within the context of my wife’s desire for a new car.  I had a situation.  She had a problem. When she sets her mind on a course of action, I become a spectator.  During our marriage, I can’t remember winning a major battle, but I’ve had success at the margins.  Guys, I think you know what I mean.  While I became more obstinate, digging in my heals, she negotiated a better deal.  I lost, of course.  I knew I would. My life was imitating art.  Today, she is very happy with her new car.  I live on to fight another day.

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

Author of: Fighting Alligators, Job Search Strategy For The New Normal

 

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Three Pillars For Independent Consulting Success

Reflecting on this past week, my focus was on exercising my coaching skills. That comes as no surprise as coaching is fundamental to my leadership responsibilities. I was a bit surprised by the breath of my coaching responsibilities, though. It began by helping a client get his job search on track and ended with a coaching client finishing her PhD requirements. Most of the week was spent with my consulting team and prospective consultants. Interestingly, one of those prospects is a Mexican Citizen who wants to open an office for us in Mexico City. I like her passion and vision for developing Latin America.

 

The common thread to these discussions is what I call “the three pillars of success for independent consultants;” networking, public speaking, and writing. These three skills are the key to success in most if not all occupations. Another way to characterize these skills is Marketing.  The objective is to be viewed as an expert in your field, someone who can be hired with confidence.

 

Professionals and Craftsmen must master the skills of their profession. If you’re an Accountant, you must know how to record transactions, balance accounts, and prepare accurate financial statements, among other things.  A carpenter must know how to make precise cuts, create square corners, and minimize waste. In both examples, one must be familiar with codes, regulations, and best practices for the industry. That is a baseline requirement to compete.

 

If you want to build a business or expand your practice, you need a lot of people who know your capabilities, who can recommend you to prospective customers. So how do you accomplish that goal? Networking, public speaking, and writing.

 

I’ve written extensively about the importance of networking. It is necessary but time-consuming and inefficient with regard to the number of people you can influence at any time.  It cannot be avoided, however.  The relationships one builds by networking creates trust, facilitating referrals. A referral from a trusted colleague is a powerful introduction.

 

The second and third pillars provide leverage. Public speaking is a viable way to influence many people at the same time. It provides a platform to demonstrate your professional credentials to an audience eager to hear your message. Isn’t it better to sell your product to 20, 40, or 100 people at the same time than by talking to just one person?

 

Receiving public speaking invitations requires you to be adept at presenting general information about a relevant topic. By demonstrating your command of the issue, you indirectly sell your services. This isn’t about direct selling; it’s about reinforcing your credentials. No one wants to listen to a 40-minute infomercial, but they will listen to learn how others have resolved common problems.

 

Writing blog posts or articles provides even greater exposure and more latitude over the subject matter. Before the internet, the traditional method was to write articles or editorials for publications in industry magazines, newspapers, and periodicals. Today, we have many more options including social media platforms like LinkedIn, Facebook, Twitter, and your company website. Additionally, you can create podcasts and YouTube videos to reach a larger audience. Supporting your writing campaign are email marketing applications like Constant Contact, AWeber, and Mail Chimp.  Grammarly is an application that helps you with your grammar and punctuation, a digital editor as it were.  With all of these resources available at modest cost, why wouldn’t you develop a writing discipline?

 

Distributing written information provides leverage that can easily put you on the national, and international stage. I have proof positive based on my conversation this week with the lady from Mexico City. The point is to present material that is interesting, relevant, and easy to read.  Over time, you will create a loyal following. These fans are potential clients, ambassadors supplementing your selling efforts. Writing articles or blog posts leads to an expanded business development platform.

 

The three pillars are mutually reinforcing. Once you develop a message, tested and honed by networking, you can easily move on to public speaking. Public speaking takes your message to a broader audience while writing takes your message to a far larger audience. It’s a natural progression where one activity builds on the other.  Plan for success as an independent consultant by mastering the Three Pillars!

Thank you for visiting our blog.

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

Jim Weber, Managing Partner

ITB PARTNERS

Jim.Weber@itbpartners.com

Author of: Fighting Alligators, Job Search Strategy For The New Normal