Mar 22

Today’s Must Reads For Entrepreneurs: When Millennials Manage Millennials – Forbes


News and insights from around the Web:


Is GE really a 124-year-old startup? “In the past five years, GE has hired hundreds of software developers, created its own operating system, and fashioned dozens of applications that it says will make planes fly more efficiently, extend the life of power generators, and allow trains to run faster. GE’s plan is to sell this software to other manufacturers of Really Big Industrial Things, and to be a top 10 software company by 2020. That would put it in the same category as Microsoft, IBM, and Oracle, an ambition that some have difficulty swallowing. ‘Top 10? No way,’ says David Linthicum, senior vice president of Cloud Technology Partners, a consulting firm in Boston.”

Here are the best companies to come out of Shark Tank: “Scrub Daddy boasts the most revenue of any business to appear on Shark Tank since the show first aired in 2009. … ‘My episode re-aired in March,’ says Krause, ‘and I instantly had 5,000 people on my site.’”

A startup movie-streaming service is dividing Hollywood: “The Screening Room, which Variety thrust into the spotlight in an exclusive report on March 9, wants consumers to pay $150 for a living-room device (yes, another one) that can be used to rent mass-appeal movies (for $50 each, for 48 hours) on the same day they arrive in theaters. Mr. Parker and Mr. Akkaraju would first need studios to agree to provide the movies, however. This is very controversial in show business. If consumers could immediately see new big-budget movies at home, theater owners worry, why would large numbers of people haul their families to a multiplex and, more important, spend a fortune on concessions?”


Because Online shoppers hate paying delivery fees, Instacart is getting Pepsi to foot the bill: “The grocery delivery startup is working with General Mills Inc., Nestlé SA, PepsiCo Inc., Unilever NV, and other consumer goods makers to cover the cost of delivery or provide other discounts when customers buy their products. In addition to the coupons, the companies pay Instacart to advertise on its website. Since introducing the program about six months ago, it now accounts for 15 percent of Instacart’s revenue, said Apoorva Mehta, the company’s chief executive officer.”

Human Resources

Silicon Valley is hiring MBAs: “Silicon Valley’s trash talking of the MBA obscures the reality that U.S. tech companies are hiring B-school grads in ever-larger numbers. Business schools sent 16 percent of their 2015 graduates into technology jobs, according to a Bloomberg Businessweek survey of students who’d accepted offers by that spring, making it the No. 3 industry for MBA grads after finance and consulting.”

What happens when millennials manage millennials: “At Mic, a media site created by and for 20-somethings, oversharing, acting entitled and second-guessing the boss are the norm.”

An on demand cleaning service gives its employees a stake in the company: “Secretary Perez said he hoped other companies, especially in the emerging on-demand space, would follow Managed By Q’s example. The company, which employs about 500 people in four cities (including its cleaners, who are employees and not contractors), provides fully paid health care, 401k, bonuses, and paid time off to its workers. ‘You are showing the world that in the on-demand space, you can innovate and you can ensure that innovation is inclusive,’ Secretary Perez told Teran, pointing out other companies, like Proctor & Gamble and Shake Shack, that have launched similar programs in other industries.”


How a high-school dropout started a business that saves other businesses millions by analyzing their expenses: “We do a lot of work for senior living facilities and we also do a lot of work for hotels. A senior living facility isn’t going to say, what do I pay for elevator services compared to a hotel? But an elevator is an elevator, it goes up and down, and we know that health care companies get charged more than hotels for elevators. Landscaping is another good example. When it comes to landscaping, a Burger King and a bank are the same thing. There’s a freestanding building and some plants and grass. But a bank pays more because it’s a bank.”

Going National

Can Silicon Valley’s favorite coffee go national? “It’s clear that techies have fueled the company’s growth. Jacob has taken his father’s concept and expanded it into a business FORBES estimates brings in $50 million a year. That translates to average annual sales of more than $1.7 million per store, far better than the average Starbucks’ $1.2 million. The company had sales growth of 60% last year and says that all 29 current Philz locations in the Bay Area and Los Angeles are profitable individually. Overall, however, the Jabers say Philz lost money last year, though they won’t say how much, because of investments like a new $4 million bean-roasting facility in Oakland.”

Getting Paid

Worried that your clients may not paid up? You can get “receivable insurance” to cover that: “ Bill Hawkins, founder and president of Compatible Cable, a cable distributor in Concord, Calif., said he got receivable insurance after a client he had worked with for a long time shut down and he wasn’t paid. He said he had revenue from a lot of accounts so it wasn’t devastating. But he said he started thinking about what would happen if one of his larger accounts went out of business. ‘We’d never had any customers go out of business,” he said. “The insurance isn’t cheap. You have to stop and weigh the benefits of it.’ James Daly, president and chief executive for United States operations at Euler Hermes, said that rates varied, but someone insuring $1 million in receivables through the company’s Simplicity plan could expect to pay an annual premium of around $7,000.”

 Going Global

Here’s what Donald Trump gets right and wrong about trade with China: “American business interests have a long list of complaints: that the Chinese government uses its enforcement of anti-monopoly rules to favor its domestic businesses; that the government subsidizes exports through tax rebates and other practices; that automakers can set up factories within China only as part of joint ventures and face stiff tariffs in trying to sell cars made in the United States. The United States government has pushed China on these ‘market access’ issues for years. But the situation seems to be growing worse, at least in the opinion of American executives. The American Chamber of Commerce in China regularly surveys its members about business conditions, and this year 57 percent of executives surveyed named ‘inconsistent regulatory interpretation and unclear laws’ as a top problem, up from 37 percent in 2012.This may reflect a faltering Chinese economy that is leading the government there to be more concerned than usual about protecting domestic companies.”

Business owners in Cuba see a reason for hope: “As tens of thousands of Cuban millennials give up on Cuba and head north, the Camachos are part of an expanding class of entrepreneurs who are opting to remain, betting on Cuba’s future despite serious challenges. ‘There’s an extremely powerful emerging market right now in Cuba,” said Mr. Camacho, 26, standing in their tiny shop, where cookies are 10 cents each, in Havana’s Vedado neighborhood. “To me, it’s easier to become part of an emerging market than to try to make it in some other country, where the market was created years ago.’”

Oregon has become the first state to ban coal outright, passing a bill that will phase out any electricity generated by coal by 2035: “Much of this is Obama’s doing. During his two terms, regulations limiting carbon output and mercury emissions has cost companies. Since Obama took office, some coal company shares have tumbled 90 percent, with coal production falling by 15 percent and wind and solar power increasing by over 200 percent. A handful of the country’s largest coal companies have declared bankruptcy in the past two years, with another likely on its way this month. On Thursday, his administration offered $65.8 million for job training and other development in communities traditionally reliant on the coal economy. But Obama’s impact on the coal industry has been assisted by the fact that natural gas is cheap and plentiful. EIA predicts U.S. coal production will decrease by another 12 percent this year, the greatest annual percentage decline since 1958. As Hitt puts it, ‘It’s the way the world is moving.’”

Source: Today’s Must Reads For Entrepreneurs: When Millennials Manage Millennials – Forbes

Notice: This website is a repository for our posts that go out to the world, but is not used as out primary messaging medium. The absolute BEST way to reach us, and follow our posts, is on LinkedIn. We have a group there, entitled The Workforce Productivity and Compensation Institute, and you are welcome to visit and interact with us there. To visit the group, go to: https://www.linkedin.com/groups/8567153/

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>