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This Kombucha Entrepreneur Hired a Man Who Spoke No English. He Is Now a Company Executive

Fifteen years ago, a non-English-speaking man applied to work at GT’s Living Foods. In Spanish, he told the hiring manager, “I am willing to do anything.” He got the job.

Originally, his job was to sweep and mop the floors. He moved up to housekeeping, and later was promoted to work on the bottling line.

“Every month, every quarter, every year he grew, and his attitude got better,” says GT Dave, founder and CEO of GT’s Living Foods. “He promised he would do anything, and he did. He had zero ego, zero pride, and the best attitude I’ve ever seen.”

Dave even goes so far as to say that this hire is better at his job than any other employee–even those with more education and industry experience. Unlike many people, who are specifically good at only one or two tasks, this employee has an affinity for quickly learning how to do many different things. And now he’s an executive at GT’s Living Foods. His job is to develop kombucha flavors and to run production lines. He’s also a general problem solver for the company.

In a company like GT’s Living Foods, Dave says, he needs people who are scrappy, flexible, and quick to jump on problems that need solving. “We’re very, very lean. We’re very, very agile. We’re much more artistic than we are corporate,” Dave says. “It’s a hard environment for your typical executive to exist in.”

As such, Ivy League degrees and decades of experience don’t necessarily count for much. Dave says résumés don’t matter to him: He looks for the same can-do attitude in every applicant who walks in the door. And, once he hires someone, that person has to keep proving she’s worthy of the job.

“I want to see what you can do here, and now. That’s my litmus test for talent,” says Dave.

By: Lizabeth Frohwein

 

Source: This Kombucha Entrepreneur Hired a Man Who Spoke No English. He Is Now a Company Executive

Our Founder & CEO, GT Dave, speaks to industry leaders & entrepreneurial pioneers on “Keeping The Attachment” at BevNet Live Winter 2018 in Santa Monica, CA. Watch to the end to see the announcement of our newest offering, DREAM CATCHER: Our CBD-Infused Sparkling Wellness Water. For more information about GT Dave and GT’s Living Foods, visit GTsLivingFoods.com. Follow @GTsKombucha on Social Media! Facebook: https://www.facebook.com/GTsLivingFoods/ Instagram: https://www.instagram.com/gtskombucha/ Twitter: https://twitter.com/gtskombucha Pinterest: https://www.pinterest.com/gtskombucha/ LinkedIn: https://www.linkedin.com/company/gts-… Website: https://gtslivingfoods.com

 

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How Did This Phoenix Tech Company Achieve a Staggering 36,000 Percent Growth? A Mistake Had a Lot to Do With It

The story of the fastest-growing private company in America, a profitable technology startup called Freestar whose revenue growth since 2015 has been a staggering 36,680 percent, starts with a calendar.

Not a buzzy new calendar app. Not a life-altering meeting request. A printed wall calendar. One of those relics with pictures of animals or landscapes that we all used to tack up in the kitchen.

This particular calendar–Tempe12–had, well, swimsuit models. Arizona State University co-eds in bikinis, to be exact. “All the girls had to have a minimum 3.0 GPA, so they had beauty and brains,” explains Freestar co-founder David Freedman, without a trace of sheepishness. Freedman, who launched the calendar when he was a 22-year-old fifth-year senior at ASU back in 2004, has come a long way since then. But he draws a straight line from that fairly crude start to his current success.

Freestar, you see, sells solutions and services that help publishers make more money online by optimizing their advertising operations. When Tempe12 was just getting started, Freedman sold all its ad space to local businesses. The calendar took off, expanded to 21 other colleges by its third year, and drew attention from Playboy and Howard Stern. Tempe12 had a website with photo archives and decent traffic–but no efficient way to make money.

In 2008, Freestar’s other co-founder, Chris Stark, joined Freedman, taught himself to code, and started scaling Tempe12’s online ad business. Other publishers noticed and asked for help, so Freedman and Stark launched a consultancy–DigitalMGMT.

“Smaller publishers would get requests from an advertiser to spend money on their website, and they didn’t even know how to sell it or how to serve it,” Freedman remembers. He and Stark could help. They had no secret formula, no proprietary technology, but they were crafty and entrepreneurial and understood an industry that was evolving every month.

“The biggest problem we had at that point was that we’d take a client from making five grand a month to 50 grand, and some other company would come in and buy them,” says Stark. “Our success meant having to always find new clients.”

In 2014, Freedman and Stark set out to raise around a million dollars and then spent most of it purchasing nine small publishers–webdesignledger.com, webresourcesdepot.com, a stock photography site called lostandtaken.com–thinking that they’d “juice the revenue and sell them off,” Freedman recalls. It was the birth of Freestar–and it was a big mistake.

Almost immediately, Freedman and Stark realized that publishing a swimsuit calendar didn’t give them any real editorial expertise. They also realized that focusing on scaling their own websites put them in competition with the sites for which they consulted.

But around the same time, Stark began experimenting with a new technology that was revolutionizing online advertising: header bidding. Until then, many Web ads had been bought in a split-second auction process that went like this: A publisher sent out a request to advertisers to bid on an ad space, and the software would automatically accept the first qualifying offer.

Ads could be sold in real time–but publishers couldn’t weigh offers against one another, potentially missing the best ones. Publishers also had little sense of who was buying ads, which left their sites vulnerable to shady operators. “It was as if you were selling your car at an auction, and they let only one person into the room at a time,” Stark explains. “That person could offer whatever they wanted–and you had to either accept or reject their offer.”

With header bidding, a snippet of code sent a request to all potential advertisers simultaneously–and then selected the best offer. Suddenly, publishers earned more from each ad, and they had more control over which ads ran on their sites. A decade after Freedman started dabbling in ad sales, Freestar took off like a rocket.

“The beautiful thing is, when you start making people more money and helping them run their businesses better, they typically have pretty big mouths,” says Freedman. “Word travels quickly.” Today, Freestar works with more than 300 publishers, including Barstool Sports, Snopes, and Fortune.

Coindesk, which covers all things cryptocurrency, saw ad revenue increase 300 percent in the first month it worked with Freestar, says Jacob Donnelly, the publisher’s managing director of digital operations. Freestar, he says, has made it unnec­essary for Coindesk to hire anyone to handle advertising operations. “That lets me think more strategically about revenue generation,” he says, “which is huge.”

Freestar generates its own revenue by taking a small percentage of the ad dollars that flow through its technology. The company hauled in $37 million last year and expects to cross the $100 million mark soon. It now employs 40–including a new face up top. Freedman and Stark aren’t big on job titles, and neither was ever formally CEO or president.

About a year into the company’s breakout growth, the founders tried to hire Kurt Donnell, a well-regarded media executive in their hometown of Phoenix, but failed to bring him on.

Two years later, they tried again, and Donnell joined as president this past January. What changed Donnell’s mind? “They had executed on everything they said they were going to do two years prior,” he says. And, he adds, “the growth was just astonishing.”

By: Tom Foster

 

 

Source: How Did This Phoenix Tech Company Achieve a Staggering 36,000 Percent Growth? A Mistake Had a Lot to Do With It

Southeast Asian Business Leaders Must Step Up On Development

Consider two statistics about Indonesia: Economists forecast the country will become the world’s fourth-largest economy by 2050. We also have the world’s highest burden of tuberculosis after India, claiming the lives of 150,000 to 200,000 people every year.

These figures illustrate the extreme inequalities dogging the world’s fourth-most populous nation, despite impressive economic growth in the last decade and cutting poverty by half.

In Jakarta and other main cities, a burgeoning middle class is drawing local and international investors, from vehicle companies to financial services to digital technology to retail and fast food chains. Yet tuberculosis still affects far too many people, particularly poor people suffering from malnutrition, while malaria remains a major problem in the remote, heavily forested province of Papua in eastern Indonesia.

To achieve its full potential, Indonesia needs to tackle inequality by investing more in its people. According to the World Bank, growth has primarily benefited the richest 20% and left the remaining 80% of the population–about 205 million people–behind.

As the Bank’s Human Capital Project points out, education and health are two of the best ways to support prosperity and prepare countries for the economy of the future. With education you can change the fate of a country, but better health is central to human well-being. Healthy people live longer lives, are more productive and save more.

I was born into a working-class family at a time (the 1950s) when most families in Indonesia had no access to healthcare. Thousands of children died each year from preventable diseases such as measles, polio and malaria. My father had a business making pedicabs, while my mother ran a fabric shop in the city. When I became an entrepreneur, I felt compelled to give back to Indonesia. Philanthropy is not about making a donation. It is a commitment related to continuity and sustainability, and requires a well-planned system to have impact.

Since 2015, the Tahir Foundation has partnered with the Bill & Melinda Gates Foundation and the Global Fund to Fight AIDS, Tuberculosis and Malaria, which have played a key role in reversing the course of these epidemics around the word. In Indonesia, the partnership’s efforts are paying off: TB mortality rates have fallen by 44% and TB incidence was down by 14% from 2000 to 2017, thanks to improved case finding and better diagnostics. In 2017, more than half of Indonesia’s districts were officially declared malaria free–a major feat for a diverse archipelago of more than 17,000 islands and more than 300 ethnic groups.

Still, more robust investments are needed. Tuberculosis places a huge social and financial burden on the people who have the disease, as well as on their families and communities. Most of the infections occur in people at their most productive age, draining billions of dollars in loss of productivity due to premature death and medical costs.

I hold the conviction that the private sector and business leaders have an important role to play in public health and development in emerging economies in Southeast Asia, many of which share similar challenges and opportunities. The private sector can bring not only funding, but technical expertise, creativity, and innovation, and are often well positioned to drive policy change.

The government of my country has done a lot for public health, including rolling out a universal health insurance scheme that is designed to provide a wide range of services from maternal care to heart surgery for its entire population by the end of 2019. But the private sector can fill the gaps to complement public resources by expanding access so that all Indonesians benefit from better health.

In 2014, a coalition of Indonesian business leaders, in partnership with the Bill & Melinda Gates Foundation, came together to create the Indonesia Health Fund, a significant step toward making Indonesia self-reliant in health funding and a model for philanthropic collaboration in the region. Over the past four years, the fund has contributed to family planning programs, TB research and advocacy programs, as well as TB screenings

It shows what can happen when public and private sectors come together with a common aim. It is more important than ever with the Global Fund now calling on the world to step up the fight against HIV, TB and malaria in the face of new threats from all three diseases. Raising their target of at least $14 billion will help save 16 million lives over the next three years, avert 234 million new cases and infections, and help us get back on track to end these diseases. The fund is calling on the private sector to contribute at least $1 billion of this total. So let us all do our share.

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Doctor Yulismar checks the condition of a patient who has tuberculosis bacteria at the Indonesian Association Against Tuberculosis (PPTI) clinic in Jakarta, Indonesia, on March 24, 2016. (Photo: Jefri Tarigan/Anadolu Agency/Getty Images)

Disclosure: Dr. Tahir is the owner of the license to publish Forbes Indonesia magazine.

Source: Southeast Asian Business Leaders Must Step Up On Development

Meet The Billionaire Who Defied Amazon And Built Wish, The World’s Most-Downloaded E-Commerce App

On a sun-filled San Francisco afternoon, Peter Szulczewski is climbing the stairs to the top of a Sansome Street skyscraper, past floors filled with Wish data scientists and engineers, pool tables and DJ equipment. Large windows give way to a stunning view of the city. But most of Szulczewski’s customers don’t work in offices like this or live in Northern California coastal enclaves. In fact, most of them don’t have much money at all. Wish’s customers are typically working-class Americans from places like the Florida Panhandle or East Texas, Dollar Store shoppers who find Amazon Prime’s $120 annual membership too rich for their blood……..

Source: Meet The Billionaire Who Defied Amazon And Built Wish, The World’s Most-Downloaded E-Commerce App

The Business Case for Positive Company Culture

Carin Taylor, chief diversity officer at Workday, shared some of the results during a Business Leader Forum at the most recent Workday Rising. Nearly 40 percent of all respondents indicated that unfairness or mistreatment played a major role in their decision to leave a company; 30 percent of women of color felt they had been passed up for a promotion; and a large percentage of Asian and Caucasian men and women felt they were treated unfairly by leadership and management…………

Source: The Business Case for Positive Company Culture

How Bloomingdale’s Is Reinventing The Beauty Shopping Experience

Department stores are in the battle for their lives. Classed in the category of general merchandise stores in Census Department’s Monthly Retail Trade Survey, department stores, excluding discounters, shrunk 2.1% year-over-year through October 2018, as compared to the entire general merchandise category, which posted healthy 3.5% growth. In the last ten years, department stores have experienced a massive 30% drop in sales…….

Source: How Bloomingdale’s Is Reinventing The Beauty Shopping Experience

How To Beat Procrastination (Backed by Science) – Darius Foroux – Pocket

Procrastination has been around since the start of modern civilization. Historical figures like Herodotus, Leonardo Da Vinci, Pablo Picasso, Benjamin Franklin, Eleanor Roosevelt, and hundreds of others have talked about how procrastination is the enemy of results. One of my favorite quotes about procrastination is from Abraham Lincoln: “You cannot escape the responsibility of tomorrow by evading it today…….

Source: How To Beat Procrastination (Backed by Science) – Darius Foroux – Pocket

Dubai Emerging Market Maverick Abraaj Gets A Lifeline – Kenneth Rapoza

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The past 12 months weren’t great for emerging markets—but it’s been far worse for Dubai-based private equity firm Abraaj Group and its founder Arif Naqvi. Bad fortune of being in the wrong place with the wrong people at the wrong time, including a scandal at a key lender, is what did them in. Its fall from being a respected, $14 billion powerhouse in the world of impact investing in private equity to a company offered a buyout of just $1 is in one of the biggest stories in emerging markets this year. At one time, it was the largest private equity firm in the world, attracting the likes of the Gates Foundation…………

 

 

 

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MIT Awards $1 Million To Most Innovative Future Of Work Organizations In The World – Devin Cook

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The MIT Initiative on the Digital Economy has announced the four global grand prize winners for the 2018 MIT Inclusive Innovation Challenge (IIC). The winning organizations were selected by the IIC Champion Committee from 20 Regional Winners in Latin America, Asia, Africa, Europe, and North America. All were vetted after a year-long search for the most innovative, impactful, and scalable future of work solutions on the planet. from more than 1,500 global registrants by in-region experts and chosen by Selection Panels at regional celebrations this summer…………

Read more: https://www.forbes.com/sites/gradsoflife/2018/11/15/mit-awards-1-million-to-most-innovative-future-of-work-organizations-in-the-world/#4847d4c2668a

 

 

 

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The Paradox of Crypto In China

Skirting the Great Wall, Part Three: The Paradox of Cryptocurrencies in China https://www.pivot.one/share/post/5be97852cd5ee726e14c46d4?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

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