Driver less Car – New Concept – How can I reach Incubators, Technocrats, Venture Capitalists for the execution of this Startup ? We can compete with Google’s “Driver less” Car globally, as this Project will be having more number of plus points. (1) Separate track will be laid & used and the movement of vehicles will be monitored through software. (2) Infrastructure investment will be very less as this project will be using existing Metros / Railways. (3) Latest available Technologies in Tower Cranes, Vertical Lifts, Rope Ways, Hyper-loop Technology, etc will be used in miniature form. (4) Speed Transport is possible with the usage of Racing Car Technology.
First coined in 1995 by Bill Gates, Friction Free Capitalism is, simply, the “enhanced efficiency of markets due to the ‘coming’ Internet revolution”.
NOTE: Learn how our Directors and Serial Entrepreneurs are leveraging NBN and Friction Free Capitalism on our new FrictionFreeCapitalism.com video page.
Doing a search on this term brings up reference to the author, book and definition, but also interestingly enough, several articles by established media outlets, also published back in the mid-90s, that relay a vision of the future of the Internet based on this term.
It’s amazing to see the accuracy of these articles when looking back from a world driven by Friction Free Capitalism. One look at today’s landscape (Google, Amazon, eBay, Angie’s List, e*Trade, etc.) and it’s hard to imagine pre-Internet times without today’s conveniences and transparency.
Prior to the Internet, just think about what we had to go through in order to do comparison shopping, check the credentials of a potential business partner, find out how a company treats their customers, what the best product is for our needs, quickly learn a craft, trade or skill, or simply get a quick answer to a question.
The Internet has removed so many barriers that it has completely changed our world in only a short couple of decades.
Even though it’s hard to imagine living in a world prior to the Internet, this is only the beginning. Right now we are in the midst of the biggest boom in the history of startup companies, and we’ve just barely seen the tip of the iceberg.
In 10 years, it’s predicted that approximately 75% of the companies that are out there…don’t yet exist today. That’s a big number, and it doesn’t take a lot of imagination to see how “right now” is a great time to get involved with startup and early stage companies.
It’s, as they say, a booming market.
Don’t forget to check out the new NBN “video page” to view our position in the world of “Friction Free Capitalism” with our “Friction Free Capitalization” model – at: FrictionFreeCapitalism.com
The 5 best attributes of successful family owned and owner managed businesses
Throughout my career, I have had the privilege of advising some very successful family owned and owner managed businesses. We will address them as FOMB for the article.
As we all know many FOMB’s rarely succeed after the second generation. Some of the reasons might be that family members are not motivated; there could be a sense of entitlement by family employees; skill sets are not professionally assessed; baggage from family disputes are often carried into the workplace; and compensation issues are just some of a list of factors that can negatively impact the long-term success of the business.
What I would like to address in this article are five behaviors and practices I have observed that successful FOMB’s adhere to in order to sustain their success and family culture for generations to come.
The five are as follows:
1) There is a very high regard placed on employees and vendors. Employees are regarded as family.
Significant turnover is unacceptable. Investments are made in professionally assessing the skill sets and motivations of their employees and vendors.
2) Every effort is made to design compensation models and buy in opportunities for their employees.
3) Likewise, vendors are also treated as family. Great effort has been invested in having a strong understanding of what each party’s values are and have them aligned so that there is a consistent quality culture that transcends to the customer. Much effort as possible is invested by the business to utilize the services of local vendors that share the same culture.
A good example of this is WAWA which has more than 30% of the company owned by their employees. Another is how Fresh Markets (now a publicly traded institution) built their reputation by offering unique and high-quality goods that were purchased locally.
4) The shareholders have no desire what-so-ever to become a publicly traded institution. Starting with the founders, there is extreme pride in the company and its products and services. They would find it heretical at the thought of any succession strategy that could possibly dilute the culture of the business. That said, there are times when growth might require such a step.
For instance, Chobani, founded by Hamdi Ulukaya, started as a family owned business in upstate New York. The success of the Greek Style yogurt demanded that they expand throughout the United States. As such, Chobani management chose to finance this expansion by becoming a publicly traded institution. To the contrary, Dell Computers, founded by Michael S. Dell was private and became public has recently decided to become private again because of the reasons mentioned above.
Another example is the micro-beer industry. The industry has matured. Many of these companies have become very successful. Some of these companies have decided to maintain their culture and remain private. Their expansion has been based on strategic partnerships with other micro brewers located in various parts of the country. One example is noted by Dogfish Head Brewery’s, CEO, Sam Caligione’s brilliant strategic partnership with the Sierra Nevada Brewery.
5) The company directly supports charitable endeavors that their employees and vendors buy into.
Many of the successful FOMB’s that I have met or read about have a very strong belief that they are there to serve and are very grateful for their success. They do not take it for granted. They devote much time and effort to give back programs that they have a love for.
Not all of these traits mentioned above are a guarantee of success. In my opinion, these practices are a great way to manage a business and your life as well. Building friendships with those that share the same values are what makes one’s life rich. It is not the money that drives this type of success!
CREATIVE / MATURE INDIVIDUALS ARE…
Flexible: Individuals who like to play with ideas and are willing to change their mind and are always on the lookout for new solutions.
Open-minded: Individuals who are aware of what’s going on and are willing to learn from others. Not defensive.
Independent: Individuals who think for themselves and make up their own mind. Not unduly influenced by others.
Sensitive: Individuals with keen empathy who strive to be aware of other people’s thoughts and feelings… and social problems that need solutions.
Persistent: Individuals who concentrate on their goals and have intense motivation to accomplish objectives even in the face of daunting obstacles.
Realistic: Individuals who are aware of the complexity of situations… but not overwhelmed by them. Reject over simplifications.
Foreseeing: Are individuals with a high threshold of frustration tolerance… with long-term perspectives allowing them to live with current uncertainty.
Expressive: Individuals with a healthy child-like attitude that is spontaneous… who are able to let loose and communicate their genuine feelings.
Curious: Individuals who tend to ask questions and challenge traditional ways of doing things.
Self-accepting: Are individuals who not only believe in themselves – and like who they are – but are constantly striving to become all they can be.
CHARLES DAVID DREHER
Commonwealth Capital, LLC