Balance Doesn’t Work – You Really Can’t Have it All – At Once

Doing anything remarkable almost always requires that something else gets ignored.  

“Having it all” is an Industrial Age charade. Starting a successful business isn’t something you can do while living a “balanced” life. The bucolic suburban life of the 1950s was missing one thing – significance. People who live remarkable lives don’t live balanced ones. They don’t want one, either. Do you want a successful life? Then stop seeking balance.

Teeter-Totters rule. When a teeter-totter is perfectly balanced, nothing is happening. The family sitcoms of the 50s, like Ozzie and Harriet, taught us to seek “balance” so we could live highly predictable, secure, safe, and unremarkable lives. But think of anyone who has accomplished great things in business, spiritual life, justice, etc – the more remarkable their impact, the less balanced their lives.

Integration, Not Balance In the Participation Age, we bring our whole self to work, and we dissolve the lines between work and play. We leave at 10 a.m. to see our kids in the only fifth-grade play in which they will ever be the lead raccoon. We take bike rides or go for walks at 3 p.m., and work in the evenings or “weekends”.

Full Engagement, Not Balance Fifteen years ago I was offered a great salary and significant ownership to run a company in Napa Valley. But we were fully out of balance, focusing on kids at the time. It was an offer of a lifetime, but it was easy to say no. Imbalance required it.

During the first year of building the Crankset Group (and earlier businesses), I worked seven days a week. There was no balance at all. Seven years later, I have every Friday off, every other Monday off, the last week of every month off, and a month a year – 60% of the year. My wife and I get to choose to ride a bike, build businesses in Africa, visit a 3to5 Club in Ireland, or go on a vacation. People on teeter-totters are always intentionally out of balance. It’s how the fun happens.

Get More Done in Less Time Here’s the rub for startups. Too many business owners go into business looking for an immediate Ozzie and Harriet “lifestyle business”–assuming that they can step right in working four or five days a week. Success almost never comes that way. It was the willingness to go all in and be completely imbalanced on the front end that allows me to be imbalanced now in the direction of free time.

Momentum doesn’t come from balance, but from giving it your all up front. An airplane burns up to 50 percent of its fuel just getting to its cruise altitude. Most businesses do, too.

Shoot for Next Year, Not Tomorrow Full engagement is tied directly to wanting the best in the long term, not right now, and wanting it badly enough to go all in—abandoning anything that the Balanced Life folks would recommend.

Find something to throw yourself at and do it with everything you have. Then take a break from that and throw yourself at something else just as hard (playing with your kids, another business, writing a book, etc.). I love my teeter-totter life. If you don’t have one, don’t expect to live a remarkable life.

Is Your Job a Balance Trap?

The Industrial Age company you work for might want you to live a balanced life and leave your personal stuff at home. It’s a trap. Find another company to work for—there are plenty of Participation Age companies out there who invite you to live an unbalanced, fully engaged, fully integrated, and remarkable life, and the number is growing fast.

Choose the Unbalanced Life

Live out your highest priorities – everything else should play second fiddle to those. And yes, you’ve got to choose. You can’t have it all – right now. Go all in on the front end and reap the rewards down the road.

As Margaret Thatcher, who lived an imbalanced life, said, “One’s life should matter.” If you live a balanced one, yours won’t.

article as seen on Inc.com

by Chuck Blakeman, Author of the #1 Rated Business Book of the Year, Making Money is Killing Your Business and Top 10 business book, Why Employees Are Always A Bad Idea

www.ChuckBlakeman.com

Connect & Collaborate - Downtown Project

Las Vegas is known for the strip. For the entertainment, the gambling, the shows. It's a city that attracts tourists, and tourists see little else beyond the flashy, glittering facade which draws them in. Strange as it may seem, people live there too, and the vast majority of Las Vegas' population doesn't live on the strip. They live in the rest of the city that visitors don't see. But because so much attention is focused on the Las Vegas Strip, as a major source of revenue and employment, it's not far-fetched to say that other parts of the city suffered from neglect.

The Downtown Project is a plan to turn that around. As  Kim Schaefer, Communications Director for the Downtown Project tells us, the revitalization project has already transformed downtown Las Vegas with new office and retail space, family-centered activities, as well as various forms of adult entertainment, and shopping.

Downtown Project took off in January of 2012 with a five-year-plan and $350 million fund, which included first, acquiring land and property, followed by a focus on funding in year two. The majority of 2014 saw fruits of the project - lead by Tony Hsieh, CEO of Zappos and 800 investors and co-owners - as office space became available with special rates and lease conditions for businesses that might be starting up, with a need to move on in a matter of months.

The area also features a container park, home to shopping, dining and a giant tree house where kids can play. It's now a place that attracts families, where people can socialize, in an area that was once sketchy, which people avoided.

The Colorado Business Roundtable sees the Downtown Project as a source of inspiration for revitalization - something we in Denver can consider as light rail stations connect parts of our city and providing new access and development in areas that could thrive.

To learn more about the dramatic changes, listen Saturday at 10:00 AM on KNUS 710 –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

Podcast links will be available the Monday after our air date. Check back for updates if you missed the broadcast.

International Space Station Upgrading Earth Observation Technologies

The International Space Station, or ISS, is recognized worldwide as a testament to the ingenuity and drive of the human spirit and an inspiration to future astronauts. Through 2014, NASA aims to give the floating observation station even more tools to monitor the Earth.  The additional hardware will give scientists much more data and a unique perspective from space.  Typical Earth-orbiting satellites fly at altitudes above 400 miles up while the ISS operates around 240 up, meaning that it will give observers a whole new look at Earth from space, providing scientists a cross-reference for satellite observed imagery. "We're seeing the space station come into its own as an Earth-observing platform," said Julie Robinson, chief scientist for the International Space Station Program at NASA's Johnson Space Center in Houston. "It has a different orbit than other Earth remote sensing platforms. It’s closer to Earth, and it sees Earth at different times of day with a different schedule. That offers opportunities that complement other Earth-sensing instruments in orbit today."

Started on September 19th, the first round of new equipment will be sent up with the Space X Commercial Resupply Services flights, adding the ISS-RapidScat, which will be used to better study ocean winds for climate research, weather predictions and hurricane monitoring.  In total, there will be 6 new additions to the station, all aimed at giving us a better understanding of what is going on on our planet.  

Banks Create Draft - y Situations

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While Speeding on the Interstate Highway, He Asked about the Form of Draft

A client called from his cell phone as he drove to the bank with a set of documents to present for payment on a letter of credit, which expired at the end of the day. While speeding on the interstate, he asked about the format of a sight draft. As best I could with words, I tried to create an image in his mind of what a draft looks like. I also informed him he could purchase some from an office supply store, or we could give him one from our supply cabinet.

When he asked if he needed a printed draft, I said, “No, we will permit a hand-written form.”

Then he asked, “Can I design a form on any kind of paper?” I assured him those details had nothing to do with the legal purpose of a draft as long as it contained the correct criteria.

Approximately 30 minutes later he rushed into the bank with the documents and his hand-written, hand-designed form. Hastily sketched on a brown paper bag that earlier had carried his lunch, it had all the components and criteria for a proper draft and we found no reason to refuse it.

Many international transactions require a document referred to as a "draft.” While some people have an idea of what and when to use it, they often have questions about the technicalities and the form. While various financial transactions require a draft, we will limit our discussion here to the use of a draft in typical international transactions. (To request a sample copy of a draft, send an e-mail to [email protected]).

Definition of a Draft

A draft can simply be defined as a “demand for payment.” The major components of a draft include the drawer, who demands the payment; the drawee, who makes the payment; the payee, who receives the payment; the tenor, which indicates the date of payment, and the amount of the draft or the amount of the payment demanded. The tenor of the draft determines a sight or a time payment. The drawee honors a sight draft, identified with a tenor “at sight,” by paying it when “sighted.” A time draft indicates payment a certain number of days after a date or an event for the payment, for example, “30 days after the bill of lading date.” In summary, the drawer demands payment from the drawee and instructs the drawee to make payment to the payee of a certain amount on a certain date.

In a typical documentary collection payment, the exporter is the drawer, the buyer is the drawee, and the exporter is the payee. In a typical letter of credit transaction, the beneficiary is the drawer, the issuing bank is the drawee, and the beneficiary, or beneficiary’s bank is the payee. The payee endorses the draft, making it negotiable.

What is a "Time" Draft"

If the buyer successfully obtains extended payment terms, a “time draft” becomes the proper term to describe the payment. In this scenario the drawee accepts the draft after the documents arrive at his bank. The drawee signs a notation across the face of the draft, obligating himself to pay on the agreed upon maturity date, often tied to the bill of lading date, such as 30 days after the bill of lading date, or tied to the date of acceptance of the draft, or some other criteria.

When the drawee of a time draft is the buyer, the accepted draft becomes known as a “trade acceptance” to distinguish it from a “bankers’ acceptance,” a time draft drawn on and accepted by a bank. The accepted draft, similar to a promissory note, represents money owed by one party to another party. Because a bankers’ acceptance presumably carries less risk, the holder prefers it to a trade acceptance.

Used by permission from "More Bankers' Insights on International Trade: 101 Practical Lessions."

Why Did The SBA Just Gift Millions To For-Profit Businesses?

The SBA just gave away millions in corporate welfare with no strings attached, to venture- capitalists accelerators. This is wrong on multiple levels.  

The U.S. Small Business Administration just announced the award of millions of dollars in grants to 50 "accelerators," which are designed for venture capitalists to sift through countless startups to find the few they think can make them money. But the rationale, efficacy, and fairness of this program all need to be challenged.

The Rationale--Accelerators Produce More Jobs (NOT)

Over the last decade, the SBA has shifted its focus away from the 98 percent of small businesses with 1-19 employees, to work with very large corporations with up to $36.5 million in revenue and/or 1,500 employees. This accelerator grant program is another example of that shift.

The SBA says accelerators produce a lot of jobs, but the evidence suggests the opposite. Over the last five years, the approximately 200 accelerators in the U.S. have created between3,300 and 4,800 jobs, or a measly 700 to 960 jobs a year, at a cost of $130,000 per job created. Small businesses add around 600,000 businesses and three million jobs every year, or an average of 15 million jobs every five years; all without handouts from the government.

The Efficacy--Accelerators Product High-Growth Companies (NOT)

The SBA says accelerators produce high-growth companies. The evidence suggests otherwise.

The best data on job creation from the Kauffman Foundation shows 100% of net new jobs are created in the first twelve months of a new business. 98% of those will never have more than 19 employees (and don't want more), and less than 00.06% have more than 500. And most importantly, nobody can figure out which startup will be the freak that will grow quickly. Not a single business that has gone through an accelerator program over the last couple decades has become "high-growth", and generated tens of thousands of jobs.

In contrast, McDonalds started as a hot dog stand in 1937, and didn't start growing until eighteen years later. It was not built to be big, "high-growth", or even make hamburgers. Accelerator owners would have laughed at it.

Sara Blakely designed and started selling panty hose from her apartment because she didn't like the way her panty hose fit. In a few short years, Spanx became a billion dollar company without the help of an accelerator, or even a single penny of outside investment. And no one, including Sara Blakely, could have guessed it would become huge.

In 1996, two college kids started a company called Backrub on their college campus server. Three years later they moved out of their garage and renamed it Google, which lived in obscurity in the backwaters of the Internet for another couple years. These kids would have never survived the "pitch deck" process to get into an accelerator.

The accelerators never recognized these or any others like them, and the overwhelming evidence is they never do. The fact is, good ideas don't need to be coddled. 81 percent of the fastest growing businesses in America never took a dime of venture capital, and those that achieved the highest financial return also took no vc money. Not one of the fastest growing businesses in America on anyone's list over the last twenty years has come through an accelerator.

Throwing free money at accelerators in not an effective use of SBA funds. They would be better off lending it to small business owners with interest.

The Fairness Issue

The SBA was formed to help small business owners get interest-bearing loans, not to give free money to wealthy vc's. One recipient of the handout, the Arizona Center for Innovation, is owned by Tech Parks Arizona, which owns 5.2 million square feet of commercial office space producing over $100 million a year in revenue. Do they really need a government handout to make more money?

Just as questionable, many other grant recipients formed their accelerator in the last few months, possibly just to get the grant. Some don't have a website yet. Some haven't even opened. One is a rental kitchen that opens this month and will rotate chefs in their for-profit restaurant area. How is that "high growth"? With no track record at all, the SBA is throwing money at all these, no strings attached. It's mind-boggling and a terrible investment practice that no accelerator with integrity would support.

How does any of this giveaway make sense? This is crony-Industrialism, and an affront to the millions of small businesses slugging it out in the trenches, who are more deserving, but won't see a dime of this giveaway. The SBA has a lot of explaining to do.

by Chuck Blakeman, Author of the #1 Rated Business Book of the Year, Making Money is Killing Your Business and Top 10 business book, Why Employees Are Always A Bad Idea

www.ChuckBlakeman.com

Article as seen on Inc.com

DAP: Door Delivery by the Steamship Line – A Good Idea? demurrage charges, VACIS exam

DAP (Delivered At Place) Incoterms® Rule

Sometimes our clients purchase goods with the DAP (Delivered At Place, replaced the former Duty Unpaid rule) Incoterm® where the shipper pays for the cost of delivery, and the shipper arranges for the steamship line to deliver the goods right to the consignee’s door. This sounds mighty convenient, but we don’t recommend it. From the following example I think you will see why.

Recently a client imported a full, refrigerated container of frozen food products from Europe. The security inspectors with Customs in Norfolk decided to schedule this container for a VACIS exam (a non-intrusive exam by gamma rays). In addition, an agricultural inspector with Customs in Norfolk decided to schedule a "tailgate" exam on this shipment. In other words, he wanted to open the doors and look inside.

Avoid Demurrage Charges

Steamship lines allow a limited number of days free time before they begin assessing demurrage (storage) charges. Typically, scheduled exam processes are slow. Knowing this and realizing that the last free day fell on Friday, we pressed the terminal to conduct the exams quickly. They were completed around 3 P.M. EST on Friday.

You’ll never guess the steamship line’s response when I told them the container was now ready for delivery! Their answer: “Sorry, we cannot dispatch a truck this late in the day. The container can’t be delivered until Monday. And oh, by the way, demurrage charges of $750 are due as of Monday!”

The steamship line had no incentive to expedite the container for Friday delivery. In fact, they had a $750 incentive NOT to have it delivered on Friday. If the buyer had used a more appropriate Incoterm® other than DAP, we would have been authorized to arrange the delivery. We would have phoned our trucker on Thursday to make sure he was able and prepared to deliver the container on Friday, even late in the day on Friday. If our regular trucker had been too busy, we would have called another company. Under the circumstances we had no leverage with the steamship line. They quite happily said, “No dice,” and collected the demurrage charges.

DAP Gives the Importer No Control

If the buyer had chosen to use any Incoterm® other than DAP (or the other D Term, DDP) we would have been authorized to arrange delivery. This goes back to the age old saying: The more control you exercise over your supply chain, the better off you are. When you lose control it can, and often does, cost you money.

Contributed by Patrick Gallagher

Gallagher Transport Int'l, Inc.

(303) 335-1000

© 2008 Patrick Gallagher

www.gallaghertransport.com

Used by permission from "More Bankers' Insights on International Trade: 101 Practical Lessions."

Marissa Mayer, The Old School Manager, vs. Ricardo Semler, The Participation Age Leader

Mayer manages to the Lowest Common Denominator. Semler leads to the Highest Common Denominator. The difference is dramatic. Last year, the CEO of Yahoo, Marissa Mayer, created shock waves throughout the tech world by dictating that “work from home” was no longer permitted. She summarily herded everyone back into the Office Day Care Center to be closely supervised like seven year olds. A few years earlier, a large multi-national company headquartered in Brazil named Semco, threw a party for their leader, Ricardo Semler, to commemorate his 10^th anniversary of not making a decision.

Managing to The Worst vs. Expecting the Best

LCD Management (lowest common denominator) asks, “What’s the most incompetent or laziest thing somebody could do?”, and then creates an environment to make it hard to get away with it. In contrast, HCD Leadership asks, “If given a clear vision, what is the best possible thing people could do without being managed?” HCD leaders then create the kind of environment that will attract self-motivated, self-managed achievers. Both of them are self-fulfilling prophecies.

LCD Managers create an environment where people will live down to our worst expectations of them. HCD leaders understand that the art of leadership is to know how few decisions the leader should make.

Ricardo Semler is perhaps the best, low-profile CEO leader in business today. Mayer is a high-profile CEO manager, using personal superpowers to hold everything together - for now. As a result, the futures of Yahoo and Semco are going in dramatically different directions.

Centralized Decision-making vs. Everyone is Capable

LCD managers assume they are the most motivated, qualified, committed, invested, and experienced. With all those superstar qualities, it would be foolish to have others making decisions. That’s why they are paid the big bucks. Mayer is infamous for regularly having a few dozen people waiting outside her office for hours, as she solves problems and makes decisions for them one at a time.

HCD Leadership believes most people are inherently motivated, qualified, committed, and invested, and that they make better decisions than someone in a hierarchy.  Semler doesn’t make decisions anymore because decisions are made where they will be lived out. Stakeholders throughout the company are responsible for Semco entering a variety of industries and growing dramatically year after year, from $4 million 29 years ago to $1billion+ today. As an HCD leader, instead of making decisions others can make, Semler is free to ask questions, cast vision, and work with others to build the future of the company.

Superpowers vs. Delegation

Mayer is a supermanager – which allows her to get away with a lot in the short term. But it is not sustainable. When she goes, the energy goes. She has entrenched herself in decision-making, making her nearly indispensable. While at Google, Mayer pulled 250 all-nighters in five years and held up to 70 meetings a week. She sleeps four hours a night. In contrast, Semler trained others to make decisions. There are now six co-CEOs who rotate leadership every six months, allowing Semler to function at the highest levels of leadership and not make decisions. As with any great leader, he has worked hard to get out of the way. He is fully dispensable, while nobody could replace Mayer.

The Results Are In

Semco gets hundreds of unsolicited resumes every month, and no one leaves. In the worst 10-year recession in Brazil’s history, revenues grew 600%, profits were up 500%, and productivity rose 700%. Innovative Stakeholders have taken them into profitable industries they could have never dreamed of entering, and they continue to grow exponentially. And unlike Yahoo, Semco hasn’t told people how or where to work for over three decades.

LCD management may get quick, short-term results, but Yahoo’s future will never look like Semco’s – it’s too reliant on a very high-profile, LCD superhuman manager. Very impressive in the short-term, but very old school.

Why They Lost Their Shirts with a Documentary Collection Payment

Documentary collection, sight draft, documents against payment, D/P, time draft, bill of lading, invoice, packing slip, insurance certificate, inspection certificate, protest, documents against acceptance, D/A, at sight, draft, customs, maturity date, open account, notary public, acceptance of the draft, International Chamber of Commerce

The Buyer Refused Payment

A customer of a bank in Minnesota, for which I worked, imported shirts from a supplier in Greece. The buyer and seller agreed to payment terms on Documentary Collection with a payment 60 days after acceptance of the draft, easily calculated once the buyer accepts the draft. On the maturity date, the treasurer informed us he would not make the payment.

Protesting Non-Payment of the Collection

After we informed the bank in Greece that we could not collect the payment, the bank in Greece requested us to perform a rarely used technique. They asked us to protest non-payment of the draft – a formality sometimes used to provide material evidence, if needed, in a legal proceeding, or sometimes nothing more than a bluffing technique.

I asked a coworker, a notary public, to accompany me to the buyer’s business. The treasurer invited us into his office. We explained that the bank in Greece requested us to either collect payment or protest non-payment. We produced the draft with his signature on it and bluntly asked, “Will you pay this draft or not?”

Without hesitation he shouted, “No, I’m not going to pay that draft. We ordered large shirts and received small instead. Our customers primarily consist of big Norwegian men,” he emphasized, “and they can’t wear the small shirts.”

We thanked him and returned to the office where we prepared a notarized statement that we had witnessed non-payment by the buyer and sent the notarized statement with a letter to the bank in Greece along with an invoice for our services. When the Greek supplier finally realized they would not receive payment, they agreed to exchange the small shirts for large shirts and the buyer subsequently authorized payment.

The buyer and seller agreed to a “documentary collection,” one of the four methods of payment used internationally. When paid immediately, banks refer to the draft as a “sight draft,” “documents against payment” or simply, “D/P.” If the buyer and seller agree to a delay in payment, the transaction becomes a “time draft,” “documents against acceptance” or simply “D/A,” as illustrated in this lesson.

Understanding Risks of the Collection Payment

In a documentary collection method of payment, both the buyer and seller bear some risk, and, likewise, both have a measure of security. Therefore, I refer to this method of payment as a “compromise” payment. With a sight payment, the buyer has the protection that the seller can receive no funds until he has proved he has shipped the goods. This prevents the seller from using the money for a weekend ski trip or some other frivolous use. The seller, on the other hand, has the protection that the buyer cannot receive the goods without paying for them.

Logistically, the transaction begins when the seller delivers the goods into the hands of the transportation company, which issues a bill of lading as proof of shipment. The seller prepares a draft and attaches the bill of lading and other documents such as an invoice, packing slip, insurance certificate, inspection certificate, etc., and delivers all documents to his bank with the request that the bank attempt to collect the payment.

The seller’s bank then couriers the documents to the buyer’s bank with clear and precise instructions to: “collect payment from the buyer before releasing the documents.” Without the documents, the buyer cannot claim the goods and clear the goods through customs. When the buyer authorizes payment, the bank releases the documents and the buyer claims the goods.

Since the buyer pays on receipt of documents only, he will not see the goods until after payment. If the goods do not comply with the order, the buyer has little recourse. The buyer can mitigate the risk by arranging for inspection of the goods at the port of departure. (The buyer cannot inspect the goods at the port of arrival because he needs the documents to see the goods.)

The seller assumes the risk that the buyer may not pay. In that case the seller can exercise one of four options: (a) renegotiate with the buyer and try to induce him to make payment and accept the goods, (b) return the goods at the seller’s expense, (c) find another buyer, or (d) abandon the goods.

When the seller presents a time draft, as in the shirt story, the bank requires the buyer to indicate his acceptance of the draft by signing and dating a notation that reads “Accepted” across the face of the draft. The seller must consider the risk that the buyer may not accept the draft. In that case the above four options remain available to the seller.

After the buyer has accepted the draft, the bank will release the documents and the buyer can claim the goods. Ideally, the time period until maturity date will sufficiently allow for the buyer to liquidate the goods and collect payment before the maturity date. On the maturity date the buyer instructs the bank to remit the payment to the seller.

If, however, the buyer refuses to pay the accepted draft on the maturity date, the seller loses all of the previously mentioned options. Selling goods on a time draft basis falls only one degree short of open account. With open account terms the seller agrees to allow the buyer to receive the goods and pay for them at a future date.

Sellers have an advantage with a time draft because they hold the accepted draft which becomes tangible legal evidence as proof that the buyer owes the money. Once buyers accept a draft they have an obligation to pay at maturity. If buyers fails to pay, they risk facing legal action by the seller. In some countries, the buyer’s name may find its place on a “black list” which would effectively prevent them from further trade.

In a D/A transaction, the buyer's risk is accepting the draft before he sees the goods. If he wishes to mitigate this risk, he can arrange inspection of the goods prior to shipment.

The International Chamber of Commerce has published guidelines to promote uniform handling and to prevent misunderstandings when processing documentary collections. The publication # URC 522 is available from the ICC at 212-206-1150 or at www.iccbooksusa.com.

Used by permission from "More Bankers' Insights on International Trade: 101 Practical Lessions."

TechStars Offering Equity-Back Guarantee

Startup accelerator TechStars is announcing a new 'equity back guarantee'.  The mentorship-driven program - based in Boulder, Colorado - has grown and expanded into other cities including New York City, Boston, Seattle, San Antonio, Austin, Chicago, and London. Companies that make the program give up 6% equity in order to gain access to the experience and and connections of the TechStars network.  They're so confident, that starting in 2015 they are willing to return the equity if startups aren't completely satisfied in the value exchange.

The group is already highly selective and accepts less than 1%  of the companies that apply. However, they can only select from those that actually do apply. While the founders of TechStars say the value is clear for graduated companies, they want to attract even more high-quality applicants who may be hesitant before getting to know the program.

In Brad Feld's post on the matter, he writes about living out the "give before you get" philosophy.  He then concludes with lighthearted confidence, "While I wish my lawyers, accountants, and investment bankers offered a money back guarantee, I accept that isn’t changing anytime soon. However, I encourage all accelerators and entrepreneurial service providers to consider offering this. After all, our mission is to help entrepreneurs."

TechStar's Announcement can be be found at http://www.techstars.com/equity-back-guarantee/

Today Techstars is announcing an equity back guarantee that goes into into effect for all companies participating in a Techstars program starting in 2015 and beyond. The reason for this is quite simple. We firmly believe in the value of the Techstars accelerator program and in the long term value of our network. This makes it easy to take this step to “put our equity where our mouth is.”

Over the years, but especially now that we’ve scaled up to 13 different locations, we’ve seen more companies coming to Techstars not only for our accelerator program but also to leverage the ongoing value of the Techstars network. Techstars is now a massive interconnected network of over 3,000 successful entrepreneurs, mentors, investors, and corporate partners. That network value lasts a lifetime, whether you’re starting your first company or your fifth.

Some of the founders we’ve funded over the years have been skeptical of the value of Techstars on the front end. Most of those ended up talking with the alumni of Techstars and ultimately got comfortable and made the leap of faith. But we’ve noticed a very clear and consistent pattern: they’re never skeptical of the value after the Techstars program ends. In fact, they tell us consistently that it was completely worth it. The equity back guarantee completely removes this up front concern that some may have.

Now, if you’re a founder who wants to get efficient and focused feedback, challenge yourself to be better, build your network, and leverage the massive Techstars network, you can do it in a completely risk free way. You can participate in Techstars under our standard terms, which now includes this equity back guarantee for every single company. At the end of the Techstars program, your company will have 3 business days to lower or eliminate our equity position if they’re not satisfied with the value of Techstars.

In the Techstars tradition of #givefirst, we’re proud to offer our equity back guarantee to ensure that every company we work with is completely satisfied with the value that we provide. We hope to see your company applying to Techstars soon. You quite literally have everything to gain, and nothing to lose.

Unmotivated Employees Won’t Like Where The Work World Is Headed

The world continues to shift in favor of those who want to do something, contribute, create, innovate, make meaning, and own their lives.  

The time is ripe for entrepreneurs, but will employees survive the next evolution? Maybe, but they're going to have to change, now.

The work world is shifting in favor of those who want to do something, contribute, create, innovate, make meaning, and own their lives. Recent studies show the workplace is headed in a participatory direction that will not accommodate traditional employees stuck in Industrial Age management structures.

The Evolving Workplace: Expert Insights is one such study. They identify seven trends. We'll look at four of them that do a great job of identifying where "work" and the "workplace" are headed.

Trend #1: Crowdsourcing and Crowdsource services. People will work everywhere and some will never meet. Just-in-time labor will reduce the number of permanent employees. Productivity will become more important than hanging around the boss. Thirty percent of Japan's workforce is already crowd-sourced.

Participation Age implication: The big elephant in the room is that kissing up to cover up for lousy productivity will be much harder for employees to do remotely. The lazy guy with a great personality might actually have to start working.

Trend #2: Productivity measured in outputs, not hours. This study says the whole world is moving in that direction.

Participation Age implication: This is a results-based culture, replacing the traditional time-based culture. In our company, we have no office hours, and no vacation or sick time. We expect people to produce, and then go play with their dog (or vice versa). The Industrial Age taught us to trade time for money, but in the post-modern economy, time is the new money. People want freedom from the 9-5 and will produce more if treated like adults who are in charge of their productivity.

Trend #3: Values vs. rules. Values, which guide and encourage personal initiative, will be more prevalent than rules, which box people in, dull their thinking, and keep them from innovating.

Participation Age implication: This trend highlights the importance of hiring people who reflect your values and who you can trust (since you're no longer measuring time, but results). Stephen Covey's research showed that employer/employee trust is one of the most valuable factors in someone being productive. Going forward, hiring for culture, which cannot be taught, will replace hiring for skills, which can be taught. Skilled employees will have to learn to live in business community, not just produce in a vacuum.

Trend #4: Employee-led innovation. The best innovation will come from the "bottom up," not from management or R&D departments.

Participation Age implication: When we lead with values and not rules, we turn employees (supervised children) into Stakeholders (self-managed adults). Stakeholders take responsibility for their time and produce results without being monitored. More importantly, they will come up with great ideas on how to move the company forward. Management won't have to tell employees what to do; the Stakeholders will be the innovators that move the company forward.

Most revealing line from the report: "Strong resistance is expected from many parts of the labor force [to measuring output instead of hours].... The gap will widen between the best workers and the worst in terms of opportunities and earnings, contributing to greater income inequality and therefore potential social unrest."

In other words, a time-based culture lets people appear productive by simply having a car in the parking lot, and they will protest having been exposed as a drain on the company.

Having a job vs. working; Time-Based vs. Results-Based
 The future doesn't bode well for Industrial Age employees who don't mind going to work (time-based job), but don't want to actually work while they are there (results-based work). But it looks very bright for Stakeholders who want to "make meaning", not just money, to take ownership, and get a life at the same time.

The work world continues to shift in favor of those who want to do something, contribute, create, innovate, make meaning not money, and own their lives. It should encourage all of us to move from being employees to Stakeholders.

article as seen on Inc.com

Connect & Collaborate - Pro Business Colorado

Connect & Collaborate with ICOSA is pleased to announce a new co-host and feature for our radio program - Pro Business Colorado with Dave Tabor. Pro Business Colorado will be dedicated to sharing the stories of successful Colorado entrepreneurs and small business owners. Dave is Senior Vice President of Business Partnerships with the State Chamber of Commerce, Colorado Association of Commerce and Industry - which gives him great access to some of the brightest people and exciting businesses in the state. We know there is much to be learned from these conversations, for you as a business owner, or simply for inspiration.

This week, our guests are Anthony Lambatos, Owner and CEO of Footers Catering and Luke Wykcoff, Chief Visionary Officer for Social Media Energy.

Footers Catering is a family owned business, recently changing hands from father to son. The world of catering is not for wimps. Lambatos manages menus, schedules, budgets and food shipments, all of which must be done with precision. But the Lambatos family adds flair and fun, making it a great place to work for employees who are creative and reliable. Listen in to find out just how crazy it can get and the innovative solutions that emerge from the madness.

Social Media Energy is a business built from a mistake. Luke Wykcoff was presenting a business plan, and diverged into sharing some social media suggestions, when the company asked him to handle their social media as an outsourced service. Social Media Energy was born, as Luke might say, before he  even knew what it was going to be.  Wykcoff encourages entrepreneurs not to let a business plan get in the way of starting a business. What exactly does that mean? Tune in to find out.

Listen Saturday at 10:00 AM on KNUS 710 –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

Connect & Collaborate - CRMCulture

It takes a lot of savvy, skill and organization to remember everything you ought to know about your customers. Then think about sharing all that information with your sales team, and keeping track of everything they learn out in the field. This Customer Relations Management, it's mind boggling isn't it? Well, you know... there's an app for that. Lots of apps, and they're all snug together in a cloud computing system called SalesForce. This week, our Connect & Collaborate guest is Steve Roch, President, CEO and founder of CRMCulture, a SalesForce implementation partner and consultant. We will discuss how many businesses can make improvements to their strategy, increase sales, and find ways to keep clients happy.

"I've done CRM for 20 years, and I found myself in the past three years coming all the way around. I would build really complex, really robust systems ... and would always look at SalesForce and say, gosh it's so simple. It's simplistic. But the users are fanatical about the usage, and I've come to realize the only thing that matters is simplicity." ~ Steve Roch

Want to learn more? Listen Saturday at 1:00PM on KNUS 710 –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

Connect & Collaborate - Two Speakers of the House

We're bringing you a unique perspective of the workings of the Colorado Legislature, through a conversation with two former Speakers of the House who will be ending their terms at the same time, at the close of the current legislative session. Mark Ferrandino (D) and Frank McNulty (R) share their experiences leading the House, from both Democratic and Republican perspectives. Together they have insight on term limits, bi-partisanship, and how to work together from both sides of the aisle. Mark Ferrandino on term limits:

"It takes about three to five years before they really feel comfortable, understand enough of the issues to really be affective. Let's say it's four years, for half your career you're trying to learn things and you have four years left to to be able to actually affect change as effectively as you can. Which means more of the knowledge, more of the institutional power moves to the executive departments and agencies and the lobby corps because they're going to outlast all of us."

Frank McNulty on Bi-partisanship:

"If you put forth enough effort to reach common ground, often times you'll get there. It's incumbant upon leadership in both parties, Republicans and Democrats, to try and find that common ground and that's what we're not seeing in Washington D.C. these days."

Hosted by Jeff Wasden, President of the Colorado Business Roundtable, and Gayle Dendinger, President of ICOSA Media,  the discussion covers the state of the legislature, all with a healthy dose of humor mixed in. If you've ever wondered what it's really like in the State Capitol, this week's program is probably the most entertaining way to learn about it.

Listen Saturday at 10:00 AM on KNUS 710 –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

Connect & Collaborate - Colorado Succeeds

The state of education should be everyone's concern. Not just those with children in school, or heading off to college. After all, our workforce is only as good as our students, and our students are only as good as the education available to them. If we want our state to succeed economically, it's in everyone's best interest to be interested in what is going on in our schools.

That is specifically the thinking behind Colorado Succeeds, a non-profit, non-partisan coalition of business leaders committed to improving the state's education system for workforce development and economic growth.  Our guests on Connect & Collaborate with ICOSA are Kristina Saccone and Scott Laband, Vice President and President, respectively of Colorado Succeeds.  Their goal is to engage the business community in improving our state by investing in education.

Business and industry can provide valuable feedback in terms of the skills and knowledge they need to see in graduates, and whether or not the school system is producing them.  As Scott Laband explains, "Colorado's education system should be the cornerstone of our state's economic vitality."

Listen in and find out how you or your business can get involved. We'll discuss education reform, education-to-workforce, school choice and more.

Learn more by visiting ColoradoSucceeds.org, ColoradoSchoolGrades.com and by tuning in for our full conversation Saturday at 10:00 AM on KNUS 710 –  Please let us know what you think of our program, either by commenting here or on Facebook at Connect & Collaborate with ICOSA or join the discussion on Twitter @ICOSAMagazine.

Nevada Wins Tesla Gigafactory

Elon Musk and Telsa Motors have been shopping around the US looking for the ideal location for the Gigafactory - Tesla and Panasonic's massive lithium ion battery manufacturing venture. Congratulations to the state of Nevada for winning the site selection. It's an exciting manufacturing plant (the world's largest lithium ion production facility) during an exciting time in the life of Tesla Motors - The company's stock was just given a $400 target price by market analysts.  Stifel Nicolaus analyst James Albertine compared investors’ enthusiasm for Tesla stock with a “freight train.”

“While there are no fewer than a half-a-dozen other key concerns we share with industry purists, the reality is, these issues simply do not matter with respect to Tesla’s stock,” Albertine wrote in a letter to clients. “Tesla sentiment is like a freight train, in our view, benefiting from a well manicured growth story that has caught the eye of a much broader investor base relative to most auto stocks.”

The stock reached $290 per share yesterday, following upbeat second-quarter results. The electric car maker is on target to achieving an annual rate of production of 100,000 cars by the end of next year, doubling its current rate. More inroads are being made in China which are also contributing to the string of records.

The Gigafactory is an important step in the company's growth path as it prepares to mass-produce a $35,000 model by 2107.  The facility looks like it will reach 50 GWh in annual battery production by 2020, which is enough to power 500,000 of Tesla's cars.  Nevada, while offering a $1.25 billion tax incentive package, will be gaining significant capital investment and around 6,500 jobs. Governor Sandoval said at the announcement that the agreement will add up to $100 billion to Nevada's economy over the next 20 years. Check out the full Gigafactory Press Release below.

THURSDAY, SEPTEMBER 4, 2014

CARSON CITY, NV – Governor Brian Sandoval and Elon Musk, Chairman and CEO of Tesla Motors, announced today that Nevada has been selected as the official site for the Tesla Gigafactory.

“This is great news for Nevada. Tesla will build the world’s largest and most advanced battery factory in Nevada which means nearly one hundred billion dollars in economic impact to the Silver State over the next twenty years. I am grateful that Elon Musk and Tesla saw the promise in Nevada. These 21st century pioneers, fueled with innovation and desire, are emboldened by the promise of Nevada to change the world. Nevada is ready to lead,” stated Governor Brian Sandoval.

“I would like to recognize the leadership of Governor Sandoval and the Nevada Legislature for partnering with Tesla to bring the Gigafactory to the state. The Gigafactory is an important step in advancing the cause of sustainable transportation and will enable the mass production of compelling electric vehicles for decades to come. Together with Panasonic and other partners, we look forward to realizing the full potential of this project,” said Elon Musk, Chairman and CEO of Tesla Motors.

“On behalf of the State of Nevada, I would like to acknowledge this monumental day and provide my initial support. This is a significant opportunity to make a major stride to improve our statewide economy. I look forward to receiving the necessary information so the Legislature can meet and take necessary action to support this major industry coming to Nevada,“ stated Speaker Marilyn Kirkpatrick.

http://www.teslamotors.com/about/press/releases/nevada-selected-official-site-tesla-battery-gigafactory

Mixing Business with Pleasure

Between touring and touristing, as a musician, travel is my lot, and I value it for the great experiences. Recently, with my wife, Pam, I visited the Shetland Islands, north of Scotland, which are very much a part of Great Britain.  We flew to the beautiful city of Edinburgh, then headed up to Grantown on Spey to stay with dear friends Frank and Debbie Strang. We flew from Inverness to Lerwick on the Mainland Island where further adventures ensued.

I did an interview with  BBC, which was broadcast all over Scotland. and then we visited High Level Music where I played with store owner Brian Nicholson-he was brilliant on lead guitar, kinda like Albert Lea’s little brother.  Then we took a tour of Mareel Theater.  Linda Anderson showed the new performing arts center and as she went to college at Vanderbilt in Nashville and knows everyone there, included many folks I have only heard of. What a fun time.

We then took 2 ferry boat rides and car rides,which I partially slept through, to arrive on the most northern island of Unst.  (The Island Above All Others)   Frank Strang was in the RAF (Royal Air Force) and had known about an air force base that was closing on Unst called Saxa Vord.  After much deliberation he and Debbie bought the base (which had been remodeled into a very nice resort.) They promoted me in a concert at Baltasound Hall for Friday night August 24th, where I was surprised to have Brian Nicholson play with me for the entire show.  It was a packed house with 300, or so, folks from the island cheering both me and Jennifer McCarthy, a school teacher with a great voice.

After, Pam and I toured the island on our own. We drove to the top of the treeless mountains to see firths (fiords), an incredible lighthouse called Muckel Flugga and the the outcrop of a small island called the Outcast, which is the northern most point of the United Kingdom. The history of the island is amazing for it’s crops-sheep-and the wee ponies they call Shetlands. They were not bred that small but survived the harsh conditions and worked pulling plows and working in the coal mines carrying more weight than any other horse per it’s size. They have been on the islands for 2000 years. Dating back to the Bronze Age, they are friendly and come right up especially if you have carrots which we always have from Charlie’s market. We learned all this from eleven-year old Emily Strang, an up and coming guitar player/ singer / dancer like her older brother Thomas.  The Shetland ponies each have their own passport and computer chip as they are protected. They have incredible coats as it rains a lot there.

We met a group of locals that act as a cross between the Chamber of Commerce-Kiwanis Club-Welcome Wagon but dress as Vikings (The vikings used to raid the Shetlands and even the dialect has been affected by the close proximity to Norway.)  These modern day Vikings take their role seriously and stayed the entire evening for the Open Mic night at the officer’s Club at Saxa Vord.  They managed to raise the roof for the many talented young and old performers who signed up and do their thing- They are an infectious lot and make everybody laugh.

The number of talented musicians in the Shetland Islands is above the norm and they are very much in tune and in touch with the modern music we hear everywhere as well as holding tight the traditional fiddle music of the Shetland Reel and the country music of the US through a famous musician named Thomas Frasier.

We had a great time staying a very nice three bedroom town home. There are 30 of these plus beds for another 100 people and incredible grounds to camp. All this plus a micro brewery called  Vahalla and  Great Britain’s most Northern distillery that makes Shetland Reel Gin.  I wrote a commercial for the gin and they unveiled the first cases at a tasting while we were there.

There is a full football (soccer) pitch made with Astro Turf next to the lodging perfect for a Bird Air tent structure (similar to Denver’s teepee looking airport)  and also a full blown airplane hangar not too far away for the major Shetland Music Festival next August 2015.   I will be helping Frank produce this with a wide range of diverse styles that combine some folks from the US with lots of talent from the Shetlands. We are hoping for a grand turnout and want you to think about joining us for the first one! (think Fred at Telluride circa 1977)   The Shetland Islands have a wonderful Folk Festival in the Spring (May) and we want to promote that, as well as Mareel and all things cultural there. Our friends Mollie and Tim O’Brien have played there and Mollie is headed back with Rich Moore next year - we are going to ask if she’d like to do two trips-she’s wonderful!    I hope you’ll tune in to 710 KNUS on Saturdays 1:00 to hear the ICOSA Radio program. It is insightful and it’s wonderful to be a part of this new broadcast as their music contributor.

Twitter to the Rescue

Tweets can get you in trouble,  if you're Cee Lo Green or any other doofus making idiotic comments... but they can also be a valuable source of information. Who knew that a 140 character social media app would become, not only a first hand reporting medium, but a useful tool for piecing together the aftermath of a natural disaster.

This month marks the anniversary of the devastating Colorado floods that wiped out miles of canyon roads and bridges, and significant portions of small mountain towns, including Estes.

Tweets sent during last year’s massive flooding on Colorado’s Front Range were able to detail the scope of damage to the area’s infrastructure, according to a study by the University of Colorado Boulder. - See more at: http://www.colorado.edu/news/releases/2014/09/03/tweets-during-2013-colorado-floods-gave-engineers-valuable-data#sthash.oEnG9zds.dpuf

Tweets sent during last year’s massive flooding on Colorado’s Front Range were able to detail the scope of damage to the area’s infrastructure, according to a study by the University of Colorado Boulder. - See more at: http://www.colorado.edu/news/releases/2014/09/03/tweets-during-2013-colorado-floods-gave-engineers-valuable-data#sthash.oEnG9zds.dpuf

Tweets sent during last year’s massive flooding on Colorado’s Front Range were able to detail the scope of damage to the area’s infrastructure, according to a study by the University of Colorado Boulder. - See more at: http://www.colorado.edu/news/releases/2014/09/03/tweets-during-2013-colorado-floods-gave-engineers-valuable-data#sthash.oEnG9zds.dpuf

According to a study by the University of Colorado Boulder, hashtags, and GPS locations attached to pictures sent on Twitter, detailed the scope of damage to the area's infrastructure.  What they found on Twitter feeds, helped rescuers and engineers determine where to focus their efforts. And by studying what they learned in the 2013 flood, they can map out a system for effective reconnaissance after future natural disasters.

As people tweeted vivid, detailed images of damaged bridges and washed out roads, it was one of the sources of timely information. "After the fact, we compared those tweets to the damage reported by engineering reconnaissance teams and they were all well correlated." explained Shideh Dashiti, an assistant professor of civil, environmental and architectural engineering at CU-Boulder and author of the study.

Tweets sent during last year’s massive flooding on Colorado’s Front Range were able to detail the scope of damage to the area’s infrastructure, according to a study by the University of Colorado Boulder. - See more at: http://www.colorado.edu/news/releases/2014/09/03/tweets-during-2013-colorado-floods-gave-engineers-valuable-data#sthash.oEnG9zds.dpuf

Tweets sent during last year’s massive flooding on Colorado’s Front Range were able to detail the scope of damage to the area’s infrastructure, according to a study by the University of Colorado Boulder. - See more at: http://www.colorado.edu/news/releases/2014/09/03/tweets-during-2013-colorado-floods-gave-engineers-valuable-data#sthash.oEnG9zds.dpuf

Tweets sent during last year’s massive flooding on Colorado’s Front Range were able to detail the scope of damage to the area’s infrastructure, according to a study by the University of Colorado Boulder. - See more at: http://www.colorado.edu/news/releases/2014/09/03/tweets-during-2013-colorado-floods-gave-engineers-valuable-data#sthash.oEnG9zds.dpuf

Tweets sent during last year’s massive flooding on Colorado’s Front Range were able to detail the scope of damage to the area’s infrastructure, according to a study by the University of Colorado Boulder. - See more at: http://www.colorado.edu/news/releases/2014/09/03/tweets-during-2013-colorado-floods-gave-engineers-valuable-data#sthash.oEnG9zds.dpuf

This is critical because engineering reconnaissance crews generally have a narrow window to investigate within the time it's safe to enter a damaged area, and when clean up efforts eliminate the evidence of weakened infrastructure. Those investigations are crucial to to allow for proper repairs, and determine the remaining life of a bridge structure.

So, although the practice of tweeting can seem banal or narcissistic, the practice of posting those pictures provides invaluable evidence, which can ultimately save lives. As we are learning in other cases, Twitter as the first draft of history provides evidence that can answer questions that would otherwise be left unanswered.

Source: Colorado.edu

Gear VR - Samsung & Oculus Advance Virtual Reality

Oculus, the rising star of virtual reality, has partnered with Samsung to turn their brand new Galaxy Note 4 smartphone into a portable virtual reality powerhouse using a headset called Gear VR.  The phone's high resolution and processing power make it an ideal fit for something like this.  As engadget's Ben Gilbert remarks, this device is aimed at a wider media audience, rather than just the hardcore gaming sector. Check out the full press release below or this informational video review from IGN.

BERLIN--(BUSINESS WIRE)--

Samsung Electronics Co., Ltd. today introduced the next generation in wearable technology, the Samsung Gear VR Innovator Edition, enabling users to fully immerse themselves in a cinematic virtual reality environment. Powered by Oculus technology, the Samsung Gear VR delivers a completely new way to experience and consume mobile content. It continues Samsung’s leadership in the wearable category through innovative technology and compelling design to expand the definition of mobile life.

The result of a deep and integrated partnership with Oculus, a Facebook company and a leader in virtual reality technology, the Samsung Gear VR creates an immersive mobile virtual reality experience that the industry has never seen before.

“The Samsung Gear VR goes far beyond expectations of how mobile technology can be used to consume content, and is a powerful representation of the progressive innovation of the Gear series,” said JK Shin, President and CEO of IT & Mobile Communications Division at Samsung Electronics. “We are pleased to have partnered with Oculus VR to bring this incredibly immersive mobile content experience to consumers.”

"We are thrilled to reveal the Gear VR Innovator Edition, a state-of-the-art mobile VR experience powered by Oculus," said John Carmack, CTO of Oculus. "The deep technical partnership with Samsung has enabled us to create a virtual reality headset with world class resolution and performance, all on a completely mobile platform."

The Samsung Gear VR delivers an unrivaled viewing experience with the 5.7 inch Quad HD Super AMOLED display of Galaxy Note 4 providing stunning and engaging visuals at a mobile-leading resolution. With the Gear VR Innovator Edition, users can sit in the best seat of a theater, can be on-stage of a performance with full 360 3D video, and can enjoy gaming like it’s never been seen before - inside stunning worlds where imagination becomes reality. Samsung’s industry leading Super AMOLED display technology and cutting-edge Oculus-driven technologies fuse to create an experience that surprises and delights – all on a mobile device.

Built with soft, flexible cushioning and lightweight materials, Samsung Gear VR is comfortable to wear. It is completely wireless, so users can be fully engaged in virtual worlds without being tethered to a computer. With a robust selection of optimized virtual reality content from a wide range of top-tier creators, users will be able to enjoy a wide range of film, gaming, 360 degree video, and educational/experiential content.

The Samsung Gear VR will be available in Frost White through the Samsung online channel and selectively by carriers this year. Full details and product images are available atwww.samsungmobilepress.com and www.oculus.com/blog/.

Note to Editors:

Product Specifications for Samsung Gear VR Innovator Edition

Designed for innovative consumers, specifically VR enthusiasts, developers, mobile experts and professionals, and early technology adopters.

Gear VR	Optical Lens	96˚ Field of View
	Sensor	Accelerator, Gyrometer, Magnetic, Proximity
	Motion to Photon Latency	< 20ms
	Focal Adjustment	Covers Nearsighted / Farsighted Eyes
	Interpupillary Distance Coverage	55 ~ 71 mm
	Physical User Interface	Touch Pad, Back Button, Volume Key
	Connection	microUSB 1.1 connection to the Galaxy Note 4
	Dimension (Headset)	198(W) x 116(L) x 90(H)mm
	Contents	Available through Oculus Store
		microSD Card(16GB) in-box: A collection of 360-degree videos and 3D movie trailers from major studios will be pre-loaded.
	As part of the Marvel's Avengers: Age of Ultron partnership with Samsung, Gear VR users will gain exclusive access to Tony Stark's Lab inside the all new Avengers Tower.
	IMAX offers samples of Hollywood and documentary films in a virtual theatre with Samsung Gear VR – the next best thing to a live IMAX experience.
	DreamWorks VR from DreamWorks Animation allows Samsung Gear VR users to interact and laugh with DreamWorks characters and content in a whole new way like never before.
	Legendary's Pacific Rim Jaeger Pilot is an immersive content experience that puts viewers at center of the action with Samsung Gear VR.
	Cirque du Soleil Media presents a 360 live-action 3D VR experience, featuring an act from Zarkanafilmed by Felix & Paul Studios for Samsung Gear VR.
	M-GO Advanced, a new paradigm for digital video virtual reality applications, offers an unmatched interactive search and discovery of the latest premium movie and TV show content with Samsung Gear VR.
	Vevo offers more than 100,000 HD music videos, live concert events and original programming that can be enjoyed in an immersive, full-screen theater experience on Samsung Gear VR.
	Protocol Zero (working title) from DENA enables Samsung Gear VR players to infiltrate enemy grounds undetected in blackout conditions with hi-tech optics including night vision, X-ray vision, and thermal vision.
Galaxy Note 4	Display	5.7 inch (143.9mm) Quad HD Super AMOLED (2560 x 1440)
	Camera (Pass-Through)	High Frame Rate Preview (60fps)
	Audio	3D Spatial Sound on Samsung VR Player for VR Gallery contents (Earphone needed)

* The availability of each content may differ by country.

* All functionality, features, specifications, and other product information provided in this document including, but not limited to, the benefits, design, pricing, components, performance, availability, and capabilities of the product are subject to change without notice or obligation.

About Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. is a global leader in technology, opening new possibilities for people everywhere. Through relentless innovation and discovery, we are transforming the worlds of TVs, smartphones, tablets, PCs, cameras, home appliances, printers, LTE systems, medical devices, semiconductors and LED solutions. We employ 286,000 people across 80 countries with annual sales of US$216.7 billion. To discover more, please visit www.samsung.com.

About Oculus VR, Inc.

Oculus, a Facebook (FB) company, is revolutionizing the way people experience video games and other digital content. The company’s first product, the highly anticipated Oculus Rift, is a virtual reality headset that allows players to step inside the game. It provides an immersive, stereoscopic 3D experience with an ultra-wide field of view and super low latency head tracking. For more information, visit: www.oculusvr.com.

Photos/Multimedia Gallery Available:http://www.businesswire.com/multimedia/home/20140903005955/en/

MULTIMEDIA AVAILABLE:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50935371&lang=en

Contact:

MWW for Samsung Marisa Conway, 201-687-7844 [email protected]

Two Business Lessons From a Guy Who Ate An Airplane

Two great questions - Is it possible? Should I do it?

Thirty five years ago a Frenchman, Michel Lotito became well-known because he ate a Cessna 150.  Yep, he ate the whole thing; wings, tires, windows, seats, engine - everything.  It took him two years, but he got the whole thing down, and I’m assuming, out.

On a tech forum in 2001, someone recounted the story, and the first response was, “Uh ok… but why an airplane?” Which leads us to two really important business lessons we should learn from eating an airplane.

Business Lesson #1 – Hard stuff is rarely impossible

You can do anything one bite at a time.

Born prematurely at 4.5 lbs, Wilma Rudolph took her first steps at eight years old, after suffering for years from polio. She went on to become the fastest woman alive and the first to win three Olympic gold medals.

At 16, Chris Zane convinced his parents to let him take over a bike shop going out of business, borrowing $23,000 from his grandfather—at 15 percent interest. This year, 30 years later, he expects to bring in $21 million.

Anna Mary Robertson Moses stopped embroidering at age 76 when her hands became too crippled to hold a needle. With no formal training or education, she took up painting and became one of the most famous and acclaimed painters in history, Grandma Moses.

Ray Kroc started franchising McDonalds at the age of 59. Colonel Sanders franchised KFC at 62.

A lot of personal and business accomplishments defy the possible. Stop whining about what you think you can’t do. Henry Ford said, “Whether you think you can, or think you can’t, you’re right.”  Take one step at a time. Keep going. Don’t give up.

Business Lesson #2 – Pick something worth doing before you start

There’s nothing worse than eating an airplane just to have someone ask, “Uh, ok… but why an airplane?” Business is hard enough. Don’t make it harder by continuing to beat your head against the wall to do things that, in the end, won’t matter. Choose wisely. Just because you can do something, doesn’t mean you should. Michel Lotito died at the age of 57 of "natural causes". Uh-huh. Eating an airplane is a bad idea.

When setting out to do something, always make sure you ask BOTH the following questions.

1)    Is it possible? (It almost always is) and…

2)    Should I do it? (What is the possible reward?)

Lotito only asked the first one. Don't make that mistake.

Put your hand to what others think is impossible, but make sure it’s worth doing before you start.

article as seen on Inc.com

Why Doesn’t Everyone Use the Incoterms® Rule DDP? Incoterms®, EXW, DDP

The Choice of Incoterms® Determines the Seller's Responsibilities

U.S. exporters must prevent their products from entering into a counties or markets which are prohibited by U.S. laws, or into the wrong hands for use of the product in a detrimental way. Exporters need to know and have trust in the purchaser.

At a recent workshop on Incoterms®, I prepared my usual outline, using the technique of ranking the Incoterms® from least responsibility for the seller to most responsibility for the seller. Initially, exporters like the term with least responsibility for them, Ex Works. In laymen’s terms, the seller says, “The goods are at my back door, come and get them.” As the workshop develops, exporters learn that Ex Works has risks, one being diversion into the wrong hands..

The Transaction may Determine the Choice of the Incoterms® Rule

A company in Colorado sent two employees to my workshop at the Rocky Mountain World Trade Center Institute. They dutifully took notes but made very few, if any, comments during the course of the class, until we got to the last Incoterm®, DDP (Delivered Duty Paid). Then one of them made a simple statement, “I don’t understand why everyone doesn’t use DDP.”

I responded, “Sir, with that comment, I know you understand Incoterms®.”

The DDP term places full responsibility on the exporter and very little on the importer. The exporter must jump through all the hoops and over all the hurdles including transportation and insurance to the buyer’s facility. This Incoterm® requires the seller to arrange for customs clearance on the buyer’s side.

Why the Incoterms® Rule DDP Was the Exporter's Preference

Why was this important to this company? They manufacture computer products that have the potential for misuse if the goods find their way into the wrong hands. Exporters need assurance that their products arrive at the intended destination and are only used for the purpose intended. By using DDP, the seller has complete control of the shipment to its destination and can avoid the possibility of diversion to unwanted parties or countries.