Technology has dramatically changed our shopping habits and will continue to do so in the future. We, as customers, have more power than ever and retailers need to adapt or get left behind.
I hope you find this interesting!
Technology has dramatically changed our shopping habits and will continue to do so in the future. We, as customers, have more power than ever and retailers need to adapt or get left behind.
I hope you find this interesting!
Great news! I just entered into an agreement to work with a software development shop called Thorn Technologies, one of Baltimore Business Journal’s top ten fastest growing private companies!
Our engagement is really broad and will include strategy work for Thorn Tech clients, sales of current products, building of the Thorn Tech brand through content creation and social media, and potential collaboration on startup projects. This will be much more than just a consulting gig; it will be a true partnership.
Thorn Tech has extensive experience building consumer-facing mobile and web applications, but they also excel at building back-end enterprise software, which allows them to provide unique, end-to-end solutions for its clients. Thorn Tech’s expertise fits really well with my experience designing and developing mobile apps and working with enterprise apps like CRM and marketing automation software.
I first worked with Thorn Tech President Jeff Thorn while I was at the Washington Capitals. He was a subcontractor for Acuity Mobile (acquired by Navteq), whose SMS platform we used to deliver text messages to our fans. Jeff also built the Caps Fantasy Challenge, which was a fantasy game delivered over SMS, online, and mobile web. Jeff is a really smart guy and he’s also a fellow Lehigh University alum!
I’m really looking forward to a long, mutually beneficial relationship with Jeff and his team. And if anyone needs software development work, please let me know!
Today is the seven-year anniversary of the passing away of my Dad, Yew Khen Chan. He battled naso-pharyngeal (nose/throat) cancer for nearly six years, going into remission twice, before succumbing to the disease on December 9, 2005. Through his actions, my father taught me so many lessons about hard work and perseverance, and my life has been positively impacted as a result. Here is what I’ve learned from this great man.
My Dad immigrated to the US from Malaysia with my mother in 1976. While in Malaysia, he had a lot of success as a salesman for huge companies, but he and my mother decided to move to the US so my then-one-year-old sister and I (unborn at the time) could have a better education and brighter future. He and my mother sacrificed a comfortable life and took on a lot of risk in an unknown world so their children can have a better life.
I definitely got my risk tolerance from my Dad and he’s a huge reason why I’m an entrepreneur today.
My parents didn’t have college educations, which obviously makes finding jobs in a foreign land even more difficult than it already is. But that never stopped my Dad from achieving success. He used his work ethic and people skills to own and operate four restaurants over his career, and actually served lunch to Russell Simmons many times! After his restaurant career was over, he was able to apply his management and sales skills to other businesses in the self storage and software industries. He wasn’t the most classically educated man, but he used his street smarts and ability to learn to be successful.
Correct Failure and Reward Success
Because my Dad wanted my sister and me to always do the right thing, he was quick to punish us when we didn’t. But he would always follow up by thoroughly explaining why we were wrong and how we could improve. I remember the time when I left a waffle cooking in our broken toaster; the toaster didn’t pop up and this set our kitchen cabinet on fire. My Dad was absolutely livid for days but then when things calmed down, he sat me down and told me everything that I did wrong (some of which wasn’t totally obvious at the time). Then he grounded me for a long time. I got the point.
But when we exceeded expectations and did really well, he was quick to reward. Many times, my Dad would make me a deal – if I got straight A’s, he would buy me the shiny new toy I wanted. I didn’t always get that toy, but God knows I tried hard every time.
I apply how my Dad treated me as a son to how I treat the people who I manage – correct issues as soon as they arise and reward excellent work.
Live to Eat, Don’t Eat to Live
My Dad loved to eat, and this apple didn’t fall far from the tree, as anyone who knows me knows I love food. He always told me that you should be alive to eat and enjoy your food, and not eat just to stay alive. But his philosophy didn’t apply just to food. Basically, his mindset was that if you wanted something, work hard and reward yourself, because you only live once. My Dad wasn’t a superficial man, but he liked and wanted nice things. So he worked really hard and treated himself to delicious food, a Rolex, a big beautiful house, and his prize possession, a Lexus LS400.
My Dad’s battle with cancer is where I learned the most about the perseverance of my parents. He was first diagnosed with cancer in 1999 and as you would expect, this absolutely rocked my family’s world.
Before my Dad went through chemotherapy and radiation, my Mom researched everything she could do keep my Dad as healthy as possible throughout the process. She bought a ton of vitamins and supplements and adamantly fed them to him, regardless of how much he complained about how many massive pills he had to take. End result – my Dad made it through the treatment without losing another hair on his head (he was already balding, though) and his cancer went into remission.
Four years later, the cancer inevitably returned. This time, the situation would be much more trying. My Dad had to go through chemo, radiation, and surgery. He lost a bunch of hair and a lot of weight and was frequently irritable and stubborn. A lot of arguments occurred; the family dynamic really changed. Regardless, the cancer went into remission for the second time, which is basically unheard of.
Unfortunately, the cancer again returned in 2005. At this point, my Dad was six years older than when he first contracted the disease and his body had taken a lot of punishment. Treatment really left a mark on him and the cancer just wasn’t going away. The writing was on the wall; he was moved out of the hospital back home and we employed hospice care to make him as comfortable as possible during his remaining time. I was set to visit my family one weekend, when my sister told me early in the week that Dad didn’t have much time left. So I rushed home the next day to see him and he wound up passing away that night; basically, he stayed alive until I got home so he could see me one last time.
Every time I think that I can’t achieve something, I remember how my Dad persevered to beat cancer twice, and held on to life to say goodbye to me in person.
It’s clear that my Dad has been with me and my family in spirit even if he’s not with us physically. His lessons impact my life every day and I hope that he’s reading this from above. We all miss and love you, Dad.
BusinessWeek recently released their 2012 business school rankings. Rather than go into the mechanics of the rankings and bitch about how my alma mater NYU Stern is only ranked 16th (just kidding, I don’t care), I’m just going to spew my thoughts about how rankings fit into the overall b-school experience.
Like I mentioned, I don’t really care for business school rankings, but I understand why they’re important:
Regarding #2, I don’t think these are wrong factors to take into account – just incomplete. These two factors are where applicants should start their application process, not end. There’s nothing wrong with a top-tier applicant narrowing down his or her initial list of schools to the top-10 ranked programs in major metropolitan areas, for instance. But many times that’s all applicants think about.
I believe that smart applicants will go further; they’ll really understand what they want to get out of business school (e.g. switch to the finance industry?) and the type of environment in which they want to spend their next two years (e.g. competitive or collaborative?), and any other factors that might be important, then really dig in to the fine details of each school that may fit his or her needs. B-schools aren’t just MBA factories; they’re living, breathing entities that will impact you for not only the next two years, but the rest of your life.
Another important factor is brand. No matter how many times Chicago’s Booth School of Business sits atop BusinessWeek’s rankings, that brand just isn’t going to be as powerful as Harvard Business School, Stanford, or Wharton. Brand is a powerful thing that should be taken into account, but like rank and location, it probably shouldn’t be the primary factor.
I understand that many of these factors aren’t mutually exclusive, but the message that I’m trying to convey is that there’s much, much more to b-school selection than rank. At least there should be.
For those of you who have MBAs, I’d love to hear some of the factors that you used, outside of rank and location, that helped you select the school you attended and how it worked out for you.
I think there are situations in work and life where you should move fast and others where you should take it slow (or “quickly” and “slowly” if you want to be grammatically correct). My sometimes conflicting thoughts are below.
Things to do slow:
What else can you add to these lists?
Last night I watched the 60 Minutes episode about why Greg Smith left Goldman Sachs – because the firm’s culture was degrading and the bank was being dishonest and ripping off its clients. This ignited some thoughts in my big noggin about how honesty and openness impacts a person’s and company’s success.
Over the last few months that I’ve been involved in startups and entrepreneurship, I’ve had many conversations with entrepreneurs about the companies they are building, their experiences in the past, and their lessons learned. What has awed me is how brutally honest they’ve been and how candidly they speak about their travails.
I think entrepreneurs HAVE to be brutally honest to have any chance to succeed. First, they have to understand what skills they lack and find co-founders and employees to fill those gaps. Once a team is built, they have to test their idea and iterate repeatedly to find product/market or service/market fit, many times completely scrapping the initial idea they were so passionate about. If there are problems with the product/service, team, or market, they have to be able to recognize this and change accordingly (like I did). Entrepreneurs need to be frank with their investors, advisors, and board members about their progress and need to communicate frequently and sincerely with their customers and employees to keep them. Not all of these entrepreneurs (nor I) are guaranteed success in the end, but being open and honest will give them the best chance.
It shouldn’t be any different for employees in large corporations, but we’ve seen many examples of dishonesty and deception, such as the Goldman Sachs story above, and the fall of Lehman Brothers and other financial institutions during the subprime mortgage crisis. Maybe it’s the pressure to maximize sales and profits that larger companies face from investors and shareholders that causes this dishonesty. Maybe senior management is corrupt from the start and fosters a culture of deception, which trickles down to lower-level employees. I’m not sure what it is, but I do believe that if you’re open and honest, both with yourself and others, you’ll be more successful in business and in life. And if you’re a company with an open and honest culture, you’ll find the same success.
I’d love to hear some other examples where dishonest companies and employees faltered, while honest ones succeeded.
Here’s a great blog post called “Why I Quit My Job, Killed a Company in Six Weeks, and Still Feel Great!”. Well, you’re reading a similar post right now.
As you may know, I’ve been working on a startup called Dokkit. And as of yesterday, I’ve split up with my co-founders, only after a few months of working together. Wow, that was fast! Here’s what happened.
I thought of the idea for Dokkit about a year ago and fleshed it out. I then started looking for some teammates to help build it. I attended startup events in DC, created profiles on entrepreneur matchmaking sites like CoFoundersLab.com, and just networked like hell.
Over the span of a couple of months, I found three developers who joined the team as co-founders, which was awesome, because the biggest hurdle for a non-technical entrepreneur is to find programmers to help build the product. We discussed the product strategy and they began developing. There were some debates about what technologies to use to build Dokkit, what the UX and UI should look like, and other important topics. We weren’t always on the same page about everything (which is completely fine), but the debating was enough for one of the developers to leave the team. I understood why and I moved on, continuing with the other two developers to build the product.
Then in July, I quit my job at the Washington Capitals to dedicate more time to Dokkit. Whoa! That doesn’t have too much to do with the story, but I think it adds some drama, right?
Anyway, a few weeks later, we performed a user test with about 70 people and got some great feedback. Unfortunately, that’s where our visions for Dokkit started to diverge. The team had some heated debates on what the purpose of Dokkit is, how the user would navigate through the application, and what the product would look like. I believed that our visions were too different to reconcile, and on a more personal level, I think the team just lacked cohesiveness and fit. Thus, I decided to leave, and the Dokkit team as we know it is no more.
Here’s what I learned from this:
-Move slow on some things, move fast on others – I should have moved a bit slower in forming the team. I wanted to build Dokkit quickly, so I recruited quickly and failed to take into account many of the “soft” factors, like cultural fit and alignment, that are so important in team-building. But I moved fast in leaving, which I think is a good thing. Maybe the team could have worked it out and become successful, but the signs were telling me to make a move.
-Seek advice from others who have been there – Before making a decision, I spoke with many entrepreneurs who have been through problems similar to what I faced. Their insight was absolutely crucial to my decision and I’m really grateful for their help.
-Failing feels oddly invigorating – Sure, I’ve failed before in my career, but in my mind (maybe not my bosses’), they were pretty small in the whole scheme of things. This is completely different since I’m on my own and the move has a big impact on my life. Nevertheless, I do feel great. I was definitely stressing out about the decision to leave, but now that it’s been made and I’ve “officially” failed, I feel kind of free and invigorated. It’s tough to describe.
The jury is still out on whether I’m going to continue to pursue Dokkit. I still love the idea, and regardless of the competition that has popped up in the past few months, I don’t think anyone has really figured out the smart social calendar space just yet. The funding world for consumer web apps has taken a turn for the worse, which of course will factor into my decision on what to pursue next. So as I consider what my next startup move is, I’m going to work on my consulting projects and continue to learn how to code.
So there’s the story of my first, and definitely not my last, startup failure. I failed fast but I think I failed right.
I know failure isn’t everyone’s favorite topic, but I think there’s so much to learn from it. I’d love to hear your thoughts about how you’ve failed, whether or not it had to do with a startup.
On Saturday, I ran the Tough Mudder race in Frederick, MD. It was awesome. Below is a recap and some lessons I took away from the race:
Tough Mudder is Extreeeeeeeeeme
The race entailed 12 miles of running and 20 obstacles involving mud, mud, and more mud, water, electricity, climbing, jumping, lifting, pushing, pulling and more. And on top of that, we did it all in a torrential downpour, basically running the entire race sloshing in mud and more mud! Crazy.
I’ve done a Mud Run in the past and that’s nothing compared to the Tough Mudder. This is a true test of both mental and physical strength and endurance. My entire body is killing me, I have cuts and scrapes all over my arms, legs, and torso and I even have bruises underneath my fingernails. It hurts to type this blog post, seriously.
Teamwork, Camaraderie and Perseverance are Essential
You can’t run this race alone. I ran it with two of my buddies and we pushed each other throughout the race. But it also felt like every Mudder was my teammate, as everyone helped each other scale the Berlin Walls, climb over the mounds in Mud Mile, and complete many other obstacles. And even though it felt great for me to get past each of the obstacles, it actually felt better helping others complete them.
Everest was a killer obstacle where you had to run up a 15-foot-high quarter pipe coated in mud and grease, then leap and grab the hands of other Mudders, who help pull you over the top. One of my teammates had a lot of trouble with this one, primarily because “tall” isn’t a word you would use to describe him. In front of a gallery of hundreds of people, he tried to climb Everest about five times, each time sliding down in shame and embarrassment (I imagine he felt that way). On his final try, he was able to get a solid leap and we were able to grab his hands and pull him up. He never gave up and we worked together as a team to get him through it. It seems cliche but that’s what Tough Mudder is all about.
Poor Organization Made This Event Even Crazier
I don’t know whose fault it was, but the traffic going in and out of the event site was insane. 10,000 people converging on the country roads of Frederick, MD made for one hell of a traffic jam. It was so bad that we parked our car about two miles away from the event site and had to walk those miles before and after the race!
Overall, the Tough Mudder was amazing and I’d totally do it again. I have a sweet t-shirt and bright orange headband to prove that I finished. We’re going to try other similar races, like The Spartan Race, to compare. I’d love to hear from other people who completed the Tough Mudder or any other races about what they think.
It’s been exactly one month since I left my gig at the Caps and I’ve learned a few things working for myself at home.
The more flexible and unpredictable your schedule is, the more important discipline and routines are
Now that I’m on my own, I have complete control over my schedule. I can plan meetings when I want, I don’t have to start work at any specific time, nor do I have to commute to an external location everyday. But I’ve found that the unpredictability of this schedule can cause dips in productivity. Who’s to stop me from waking up at 10am everyday and only working until 3pm? I’m the boss, so I can do what I want, right? Sure, but I’d get absolutely nothing done.
So I stay disciplined and replicate my morning routine that I had while working for the Caps. I wake up at 7am, walk the dog, make breakfast, shower, then immediately start cranking out work. When Noon rolls around, I’ll either make lunch and eat, or fit in a mid-day workout. If there are days when I have meetings or I need to run errands during normal work hours, I’ll work into the night to complete my 10-12 hour workday. Staying disciplined and following a routine has been really helpful in staying productive working from home.
Power naps really help productivity, too
You’re probably thinking “WTF?!” after having just read the first section about discipline. But it’s true – power naps are awesome for productivity. Everyone’s been through the 2:30 in the afternoon lull at work and power napping helps me get through it. There have been articles in Inc., Businessweek, and other publications about how companies embrace nap time during the work day and studies show how this positively impacts productivity.
But again, I have to be really disciplined about this, or my 20-minute nap can turn into a 3-hour one (like it sometimes does on the weekend). I nap sitting semi-upright on my couch so I’m not that comfortable. I set the alarm on my phone to ring after 20-30 minutes and place my phone across the room so I have to physically stand up to turn it off. After I wake up, I splash my face with water and immediately get back to work, feeling refreshed.
The highs are higher and the lows are much lower
The extremes are more amplified working for yourself.
In my past consulting gigs with Tefen and Navigant Consulting, closing a new project deal or completing an engagement was a big deal. At the Caps, a successful marketing campaign, the launch of a new mobile app, or a big win over the Penguins was cause for celebration. I’m not taking anything away from these events, as they definitely elicited happiness and excitement. But when you’re on your own, the littlest wins, like an insightful product test, a completed analysis for one of my consulting clients, or a meeting that went well, seem huge. I can’t even imagine how I’ll feel when something bigger like a product launch happens. My head will probably explode.
On the flip side, the lows feel really, really low. Projects that move slower than I expect drag me down more. Reading about how the stock prices of Facebook, Groupon, and Zynga are dropping like a bag of bricks doesn’t give me much confidence as I build a consumer web app. The doubt that creeps in can be paralyzing.
But that’s the game I’m playing and I need to deal with this roller coaster.
That’s all I have for now. I’d love to hear from other entrepreneurs about their everyday experiences, or from anyone who works from home.
I wrote a blog post a few weeks ago about how sometimes I wish life were simpler and we could more easily disconnect from our gadgets. Lately, there’s been a lot of content out there about how to better disconnect from work, which is something that I and many people have a problem doing.
When I was working at the Caps, I almost never disconnected from work when we were in-season from September to May (too bad not June). That’s nine months non-stop of constantly reading and writing email, strategizing, executing, managing, firefighting, and stressing. I’d take a few days off in February or March each year to go snowboarding out west, but I’d bring my laptop and catch up on some work during downtime and really never stopped thinking about it. I otherwise rarely took vacation in-season. This is a recipe for burning out, which I admittedly did towards the end of every season.
Now that I’m on my own working on Dokkit and consulting, it’s gotten even worse. And I’ve been doing this for only two weeks!
That’s why I love these articles and posts about how small business owners and startup CEOs are approaching vacations and completely disconnecting from work, whether it’s for themselves or their employees.
This NY Times article shows how you can prepare yourself and your company for when you take a real, disconnected vacation.
This post from a startup called Full Contact talks about their Paid Paid Vacation policy – not only do they pay your salary when you are on vacation, they actually pay for your vacation, too! Awesome!
This Inc post talks about how Red Frog gives their employees unlimited vacation time and how that really helps them be more productive.
It’s tough but I think we can gain a lot from being truly disconnected from work every now and then. What do you think?