Technology Consumer Products
Jonathan Kaplan has continually evolved Pure Digital Technologies Inc. to stay relevant in a rapidly changing marketplace.
The company was born in 2002 to develop affordable digital cameras for a mass-market audience. Its first product was a single-use camera that was sold in the U.S. under the brands of CVS, Rite Aid and other drugstores. Kaplan believed he could build a better single-use camera and experience for the consumer. The cameras provided the consumer the ability to take 25 great photos and get prints and digital copies at only a slight premium to the standard film single-use cameras in the market.
After selling a few million cameras, Pure Digital, which is now part of Cisco, took its success in the single-use camera market into developing the first ever single-use camcorder. Pure Digital developed IP and know-how that allowed it to use off-the-shelf, low-cost digital components and create a high-quality video camcorder and customer experience. Its solution allowed consumers to record 20 minutes of video and in-store processing created a unique DVD experience, a real breakthrough in 2004.
By continuing to listen to its customers, Pure Digital realized that the opportunity to create a standalone camcorder product was much greater than the single-use market. Pure Digital took its single-use technology and developed the first ever point and shoot camcorder and, in the process, created the point and shoot camcorder category. Within a year, it launched the Flip Video brand, and within two years, it had the best-selling camcorders in the U.S. market.
Flip Video, under Kaplan’s leadership as CEO, was able to grow the camcorder industry after its 10-plus years of flat or declining sales.
How to reach: Pure Digital Technologies Inc., makers of Flip Video, now part of Cisco, (415) 445-7626 or www.theflip.com
We’ve all been in business long enough to know the facts. We’ve heard the stories. We’ve read the biographies about the distinctiveness of entrepreneurs.
Entrepreneurs lead in uncertain economic times, boldly innovating where established companies fear to tread, hiring when others lay off and increasing product development where others cut back. We know this to be true, and we celebrate it again this year by recognizing the incredible talent on display at the Ernst & Young Entrepreneur Of The Year 2010 Northern California Awards.
High-growth companies have as much to lose as established companies, if not more, with far less cushion to fall back on in the event of failure. And yet they persevere, they continue to move forward with their eyes wide open for the innovative, the new, the unique. They’re hungry, they’re driven, and they’re sharply focused.
But, surely, they must have something else because those qualities can be found in organizations young and old, large and small. After presenting these awards for 24 years and meeting thousands of successful entrepreneurs and hearing their stories, we think we’ve identified their ultimate, sometimes hidden but clearly recognizable driving force. It’s more than starting a business, employing people and succeeding in whatever industry they’ve chosen, despite all the barriers to success and pitfalls along the way. It’s simply this: Entrepreneurs want to change the world.
We at Ernst & Young are honored to recognize their achievements, and we salute their efforts. We trust they’re going to do it in a positive, innovative, beneficial and long-lasting way. In fact, we’re counting on it.
Let’s congratulate them for their achievement, encourage their perseverance and admire their ingenuity. By supporting them, we can all help to change the world.
Ernie Cortes is Entrepreneur Of The Year Program Director. Contact him at (408) 947-5462.
Steven K. Morgan likes to challenge his employees.
The founder and CEO of Wildlands Inc. has grown the company to become nationally recognized in the mitigation and conservation banking industry. The company stewards more than 40,000 acres and Morgan wants his team to reach 100,000 acres. It’s a bold challenge, but employees have easily accepted it because of Wildlands’ culture of innovation and personal creativity.
Morgan has created a company culture where employee ideas are embraced. In fact, Morgan encourages employees at all levels to engage in new market opportunities. By helping add natural habitat to the company’s list, employees are able to see accomplished and tangible results. Adding to that feeling of achievement is Morgan who is always there to celebrate employee and company wins.
Morgan has developed ways for the company to innovate by taking several approaches to acquiring land. He has mainly grown the company through aggressive land acquisitions, but what’s unique to Wildlands approach is much of the land isn’t for sale. Morgan has formed a strategy to gain trust with land owners and demonstrate a commitment to preserving the natural habitat.
Wildlands has also developed mitigation banks for threatened and endangered species and is expanding into new markets to provide solutions for historical damage to the environment and water quality nutrient trading.
The company has grown to more than 100 employees with offices and projects in California, Oregon, Washington, Virginia, North Carolina and Georgia. New markets continue to be evaluated, including restoring habitat in China.
Seen as a true pioneer in the industry, Morgan can be credited for banking being accepted by federal and state resource regulatory agencies. His commitment helped pave the way for the U.S. Environmental Protection Agency and U.S. Army Corps of Engineers establishing federal guidelines on mitigation in 2008.
How to reach: Wildlands Inc., (916) 435-3555 or www.wildlandsinc.com
P.V. Kannan doesn’t mind taking chances. When he founded 24/7 Customer Inc. in Bangalore, the call center industry was a completely alien concept in India. The idea of young graduates actually finding respectable employment and working with Fortune 100 companies was unheard of.
But for customers, it was a unique idea. It would reduce costs to outsource a large chunk of business to a vendor operating in a remote location. So Kannan had to demonstrate that his unproven idea would work.
He did just that, relying on his entrepreneurial skills to grow the business and position it to be ready to overcome challenges. As the company has grown, Kannan has stuck to the core idea of nurturing local talent. Every center has a mix of both local and global talent.
Internal promotions are encouraged and special focus is given to the empowerment of women employees, including 12 percent of the leadership team that is made up of women.
Kannan is a believer in talent identification and leadership development programs, as well as programs that develop mentorship. He encourages employees to seek higher education to bolster their chances of advancing in the company.
Employees are encouraged and empowered to map out their own career paths and plot their own growth in the company.
The company itself works hard to keep the business process simple, but that doesn’t mean Kannan has lost his willingness to take chances and try new things.
The company, which has its U.S. headquarters in Campbell, Calif., has taken a paradigm shift of providing predictive interactive solutions to be an even better resource to its clients. Kannan wants to do what he can to make sure clients stick with his company and want to continue doing business with him for years and years to come.
How to reach: 24/7 Customer Inc., (650) 385-2247 or www.247customer.com
Born: Johannesburg, South Africa
Education: Bachelor’s degree, University of the Witwatersrand, Johannesburg; master’s degree and Ph.D., Stanford University
What was your first job?
I worked for my father, and he was in the financial world, but my first real job was I was a summer intern for a radio manufacturer, and I can’t recall the name of the company, but I was functioning as an intern. I was troubleshooting broken radios very simplistic stuff because I had no expertise.
What’s the biggest business lesson you’ve learned?
CRC is my second venture. I had one other key one. Back when I finished my Ph.D. at Stanford, I was at a consulting firm. I had an idea to put a device in cars that would generate electronic driving directions. Of course, today that’s become commonplace. I started a company with a different name back then, but it’s now called Navigation Technologies, and I started that back in 1984 with venture funding, and I actually sold it off to Philips in the early 1990s the big electronics firm and Navigation Technologies today is the largest company in the world which owns the underlying geographical database that supports automotive navigation.
The lesson I learned from that experience was that I was ahead of my time. Everyone loved the idea, but the technology wasn’t there yet, and I learned that timing is everything. If you have an idea for a product for an entrepreneurial venture, the marketplace has to be ready for it. It simply wasn’t ready for it at that time. It was too expensive. I realized finally that I needed a large corporation with deep pockets and a long time frame, which is why I sold it to Philips, and they invested $2.5 billion in NavTeq to build a worldwide database.
Timing for an idea is everything. If you have the greatest idea in the world, but if the market isn’t ready for it, it’s not going to fly.
Born: I was born in Korea, and I was adopted to Norway when I was 2 years old. I’m still surprised every time I look at myself in the mirror that I don’t look more Norwegian than I do. All my memories are Norwegian. I don’t think Korean, I don’t feel Korean, I don’t have any memories that are Korean I grew up on a nice little farm in the eastern part of Norway by the Swedish border.
Education: Master’s degree in electrical engineering from Iowa State University
What was your first job?
My first proper job, I was picking strawberries in the summertime. I remember I took great pride in doing that. I’d set myself a target I had these quarts, and I’d count how much time I had for each basket of strawberries. I was very diligent and effective. For three summers in a row, I picked strawberries, and the fourth year they wanted me to pick cabbage, and I decided to do something else. I was in seventh or eighth grade. I grew up on a dairy farm. I did a lot of work on the farm, as well, but I didn’t feel like that was work work.
As a child, what did you want to be when you grew up?
The first aspiration I had in terms of a career was to be a carpenter. My father was always building houses. I remember when I was younger, he took me to his construction site where he was building a house, and one day, there was nothing there but materials, and then just a few weeks later, there was a house there in front of me, and I was so proud. Because of that, I wanted to be a carpenter. I wanted to do that all the way into high school.
What’s the best advice you’ve received?
I don’t think I actually got advice that really made a profound impact on me. I think my father as a role model had been a good influence. My father is a very humble man with little schooling I think he has five years of schooling, but he is a very hard worker and takes a lot of pride in his work and everything he works on has impeccable quality and superior standards. I have a great admiration for his understated pride and commitment to quality.
What’s your favorite movie and why?
I don’t know if there’s a favorite movie, but one movie I just recently saw with my kids was ‘Avatar.’ I can’t say it was a favorite movie, but it was an incredible movie from the perspective of it moved me in terms of awareness of nature and we have to look after the world around us, and it made a profound impact on me much stronger than ‘Inconvenient Truth’ or any other movie.
Vikram Mehta spun BLADE Network Technologies Inc. out of Nortel in 2006 because he saw the opportunity for a new kind of intelligent network backbone for data centers.
“There were customers who were depending on the success of this business, and the operation could not be successful where it was,” says Mehta, the company’s president and CEO. “This was about putting it in an environment where it could deliver on the commitment and promises that were being made to customers.”
Today, BLADE is booming. In less than three years, the company has grown to employ more than 200 people. Its networking switches support 9,500 enterprise data center clients in 26 industries, including 350 companies in the Fortune 500. And BLADE is on track to exceed $100 million in shipments for fiscal 2010.
Mehta was honored as a 2009 national finalist in the Emerging category and a Northern California regional Entrepreneur Of The Year Award winner. Smart Business spoke with his about ideas, relationships and how to motivate employees to discover that next great thing.Q. What drives BLADE’s success?
We’re in a people business. It takes people to build technology. It takes people to come up with creative ideas that turn into products. ... So at the very heart of this high-tech business are people. That’s the biggest asset and most sustainable differentiator any company can have.Q. You mentioned people coming up with creative ideas that turn into products. Do you have a system in place to foster that?
We have this concept called the Idea Pump. The Idea Pump is an electronic repository where anybody in the company can give suggestions that will improve just about anything that the company does. ...
I personally go in and review ideas that have been submitted in the Idea Pump. We then discuss it as an executive management team.
You’ll be surprised at the brilliance that comes out of this Idea Pump. I equate it to opening a radioactive tin it’s glowing with brilliant ideas. In fact, at any given moment there are more ideas there than we have resources to follow through on.
When we take ideas out of there we go back and reward the individual or team of individuals who either came up with the idea or collaborate on making it reality.Q. How do you encourage people to experiment with ideas?
The worst mistake that you can make is inaction. Moving fast, trying new things, even if they don’t work, will at least give you [an idea], as an organization, of what is not working. Then you can go off in another direction. But if you keep waiting, when you finally do take an action you won’t know if it will yield the results you want.
Going out there and trying new things is extremely important. Making sure you’re not making the same mistake over and over again is incredibly important, but I really encourage risk taking. No great things happen because you just walk along a safe path.
It’s all about taking risk. It’s all about learning from the outcome of those risks that you take. That’s what I do personally and try to practice with my employees, as well.Q. How do you build strong relationships that translate into growth?
At the bottom of all of this is trust. If you give somebody a commitment, you will follow through on that. The approach that I’ve always tried to take on this ... is that if you’ve made a promise to somebody, if it’s the last thing you do before you die, you’ll fulfill that promise. As long as you bring that attitude, customers are going to trust you, employees are going to trust you, partners are going to trust you and suppliers are going to trust you. And in difficult times, they’re going to give you that one extra chance you need.
How to reach: BLADE Network Technologies Inc., www.bladenetwork.net
IPOs on the rise
While it may not feel like much in the economy has changed, a recent study by Ernst & Young LLP that analyzed business activity among Russell 2000 companies indicates that many companies are on a growth path.
“The current numbers suggest that all boats are rising with the Russell tide or at least a significant number of them,” says Maria Pinelli, Americas Director, Strategic Growth Markets, Ernst & Young LLP. “If you are one of the smaller companies, it’s clearly time to get growing.”
One way to grow is to take your company public. According to E&Y’s survey, IPO activity grew significantly during the second half of 2009, with 32 IPO entrants added to the Russell 2000. That’s more than double the 13 IPO entrants during the first half of 2009.
If you’re thinking about IPOs, here are just a few of the questions you should ask yourself to see if your company is ready. You can find more questions as well as whitepapers on growth and entrepreneurship at www.ey.com/US/EN/home/library.
- Have you developed a formal, comprehensive written plan and timeline?
- Has your organization begun acting like a public company?
- Are you actively addressing the four functional phases of the IPO preparation process: due diligence, drafting, SEC review and marketing?
- Have you determined your company’s potential M&A valuation versus its public company valuation?
- Is your team able to scale to meet the company’s growth projections?
- Have you communicated realistic timeline expectations to key stakeholders?
- Do you have a Plan B? Have you prepared a financing strategy to execute without an IPO?
Source: Ernst & Young, www.ey.com
New revenue recognition rules will have the biggest impact on companies that sell tangible products that include software, but they will also have an impact on every company that sells multiple elements at once.
The hotly debated rules (formally known as ASU 2009-13 and ASU 2009-14 or EITF 08-1 and 09-3) should allow companies to recognize revenue sooner but may also create a lot of additional work for them, says Nick Steiner, a partner at Burr Pilger Mayer.
“Even if you’re not a company that includes software in your products, the rules will be changing,” he says. “This is going to impact any company that is selling multiple elements, or bundling, at once.”
Smart Business spoke with Steiner about how the new rules will affect businesses and how to begin preparing for them now.
How will the new rules change the way companies recognize revenue?
The new rules may result in significant changes to a company’s revenue model. These rules introduce a ‘selling price’ hierarchy for multiple-element arrangements and remove the requirement to use objective and reliable evidence of fair value when separately accounting for deliverables. As a result, they should allow companies to recognize revenue such that it more closely matches the economics of the transaction.
The rules have become informally known as the Apple rules, as Apple was one of the key drivers in the changes. Because of the software embedded in an iPhone, Apple was recognizing revenue under software revenue recognition rules. Under these rules, Apple previously had to defer revenue when an iPhone was sold and recognize the revenue over an estimated two-year economic useful life. This was a result of Apple providing upgrades to the software on its iPhone to customers for free. Because it did not charge customers for this element, it could not establish evidence of fair value for it. Apple felt that the resulting accounting deferral and recognition over two years did not reflect the economics of the transaction and supplementally disclosed the number of iPhones it sold each quarter to satisfy its investors. Under the new rules, Apple will be able to recognize a significant majority of iPhone revenue upon sale rather than deferring all of it.
The new rules go into effect for fiscal years starting in July 2010 or after, but Apple has been an early adopter. Apple recently announced its financial results for its first quarter after adoption and reported record earnings as a result of the accounting change.
What types of companies will the new rules impact?
While the impact of the new rules will be biggest on companies that sell hardware and software together, these rules are going to affect any company that bundles products and/or services.
How will the new rules affect how companies operate?
One of the impacts of the new rules is that companies will no longer be allowed to use the residual method for allocating revenue in an arrangement. Under the old rules, you allocated the fair value to everything that you hadn’t delivered, such as training or customer support, and whatever was left over, you recognized now. Under the new rules, you will have to allocate all of the consideration based on its relative value. This will require companies to study what the average selling price has been for all of their products and then allocate revenue relative to that. Previously a company needed to establish stand-alone evidence of fair value (either through its own sales or through objective third-party evidence) in order to ‘carve out’ an undelivered element from a transaction. Companies will now be required to use their best estimate of a component’s stand-alone sales price to allocate revenue if evidence of fair value does not exist. This will result in significant judgment in determining the estimated sales price as well as in determining whether a component requires stand-alone accounting. In situations where a company has thousands of products, studying its history of the selling price for each of those products over time will be a significant challenge.
Can a company do this analysis on its own?
Many companies will likely need additional help implementing the new rules because they’ll need help analyzing the historical selling price of each of their products. Initially, companies were excited about the prospect of recognizing more revenue sooner, but as they start to dig in, they are starting to understand the amount of work that can be involved in the rollout, and many of them are hiring consultants to help them through the process.
The fewer products you sell, the easier this is going to be, but it’s not going to be an insignificant effort for anybody. The bulk of the work will be upfront as you assess the historical selling prices for some products and develop estimates of selling prices for others. But even after adoption, companies will need to continue to perform regular assessments of their selling prices.
Another issue facing companies is that most existing accounting software wasn’t written contemplating these new rules. While accounting software vendors are working on updates, companies may have to use stopgap measures until the accounting software catches up with the new rules. This could require tracking transactions outside of accounting software during the initial implementation.
There is significant work involved in assessing historical selling prices and you should get started sooner rather than later.
Nick Steiner is a partner at Burr Pilger Mayer. Reach him at (408) 961-6375 or email@example.com.
Every time Shelly Lazarus talks to executives who are managing through tough times, she poses a straightforward question: What is the value of a brand?
It’s a simple question that often leads to a more detailed discussion.
“Is it a revenue or a cost?” asks Lazarus, chairman of Ogilvy & Mather Worldwide, an advertising firm that, over the past 60 years, has helped build some of the most recognizable brands on the planet. “I would argue a revenue driver. If you spend money during a recession, you can come out ahead. Those companies and brands that invested through this (recession) will come out stronger and ahead of their competitors.”
Lazarus shared her thoughts on brand value, managing through tough times, how to deal with Gen Y and the future of advertising at the Ernst & Young Strategic Growth Forum 2009.
On managing through tough times
The best thing you can do is state the problem clearly but stay optimistic about the outcome. It’s not ‘rah rah’; people can see through that. But you have to get yourself to a place where you see the path. And when you’re comfortable, communicate, communicate, communicate. You have to get out with people and share what’s going on so they can assess the situation and have an understanding of where you’re heading and feel a sense of comfort.
Everybody is looking at you to see how you react to the ups and downs of the marketplace. The biggest mistake people make in communicating is that in many companies, the last group of people that the leaders communicate with is the employees. That’s a mistake — they are the most important constituency you have.
The second biggest is that you better not sugarcoat the news. You need to have a good sense that people in the company trust the leadership. And to have that trust, you need honesty and transparency.
On managing Generation Y
This is a different generation in the workplace than the previous generation. The average tenure for Generation Y employees today is 16 months. You’ve got a sea change coming toward us that we have to deal with. But there are things you can do. If there is an expectation that jobs are episodic, is there something you can do with jobs in a company? Can you make the job more satisfying? And how do you create the balance they seek? We are dealing with a population, a generation really, that doesn’t want to do things the same way you do. You need to rethink the nature of the job.
On the future of marketing
Less than 50 percent of our revenue comes from traditional advertising. There are so many new ways to communicate that we’re inventing it as we go along. But there’s a danger of fragmentation. It’s imperative to ensure your message and brand is consistent. That way, wherever people choose to find you, the brand message is the same.
No matter what you choose, a mix of media always works better than a single medium, and the more different media that you use, the better your results. But you need to know what role each effort plays and how it’s going to get to a transaction. Things are so fast that you can now move from ‘I never heard of that before’ to a transaction within 24 hours.
So, when determining where to advertise or market your message, be demanding. Find out how you’re getting from the first insertion to a sale. If that is your mindset, it becomes much easier to adapt.
How to reach: Ogilvy & Mather Worldwide, www.ogilvy.com
Five keys to an economic revival
Today, business leaders are struggling to balance the near-term needs of survival with the long-term demand to find new sources of growth. Never has the need to innovate and be entrepreneurial been more urgent. Ernst & Young LLP has identified five areas where entrepreneurship and innovation are the keys to a global economic revival.
- Entrepreneurial thinking. In a recent Ernst & Young survey, the majority of entrepreneurs said they saw the economic slowdown as the perfect time to pursue new market opportunities. In addition, economists, academics and industry leaders all agree that recessions tend to favor the naturally innovative temperament of entrepreneurs. Some of the world’s largest companies were born during a recession.
- New market leaders. The market leaders of today are not necessarily the market leaders of tomorrow. Dominant corporations are constantly replaced by entrepreneurial-minded enterprises that grow at incredible speed and gain significant market share.
- Innovation can — and often must — be disruptive. Industries, companies and economies all suffer initially as innovation challenges the status quo, but strong organizations embrace shake-ups and ultimately thrive.
- Entrepreneurs are not bound by size. Large companies are often hampered by institutional structures that may view unconventional ideas or strategies as impractical, unwise or threatening. But large corporations can still innovate successfully if they build and sustain innovation-oriented cultures.
- Government support. Government policies that encourage entrepreneurship are most likely to result in increased innovation. Governments, which are often viewed as most effective when they stay out of the business sector’s way, actually play an important role in nurturing and protecting one of their most important engines of growth: entrepreneurs.
Source: Ernst & Young LLP, www.ey.com
Randy Hetrick had no pressing need to create the TRX Training Center. It was a significant investment and there was little value for all of his customers.
The gamble, which Hetrick thought would add to Fitness Anywhere Inc.’s branding, worked out. He’s amortized the investment and strengthened the company.
A key to successful leadership “is the ability to make decisions, act on them and not spend much time looking back,” says Hetrick, president and CEO of Fitness Anywhere, a provider of training products and exercise programs.
Prior to founding the company, Hetrick was a U.S. Navy SEAL. So his years of being quick to action has transferred to running his 60-employee company.
You don’t need to labor over every decision, he says. Make sure it’s an area you’re well versed, strategize with key employees and adjust when needed.
Hetrick’s philosophy has helped Fitness Anywhere grow its 2009 revenue about three times its 2008 revenue of $7 million and create key partnerships with people like NFL quarterback Drew Brees.
Smart Business spoke with Hetrick about how to make quick decisions.
Embrace quick decisions. I am a firm believer in the blink judgment principle. Oftentimes, so long as you’re qualified in the domain, and you have a lot of experience in the domain, the decision that you consider and act on quickly will be nearly as good as the one that you anguish over in committee for a long time then eventually put into grudging motion.
It’s the old military principle where the 80 percent solution executed violently now will trump the 100 percent solution executed six months from now every time.
No. 1, you have to make sure that you really do have sufficient domain expertise in the decision arena that you’re addressing. You bring in key advisers. You solicit their input. And you synthesize an outcome and you put it into motion.
I’m not suggesting that you never evaluate to see how it’s doing, I’m just suggesting that it’s important in early-stage companies not to waste time or bandwidth or get caught up in sorts of analysis paralysis.
There’s always five or six ways to do things. One of them is going to be best, one of them is going to be disastrous, and the other four or five will be pretty darn close in outcome if executed aggressively and to the fullest of your team’s ability.
Involve your team. Coming from the SEAL team tradition as I do, we actually are very aggressive in including all levels of the organization. Not just the senior people, for instance, but including someone from the tactical operational level and then someone from the strategic level, so we have a nice mix of strategy and tactical operational daily expertise involved in all the decisions that we make.
There’s oftentimes a misperception that too much of the brain power and expertise resides at the very top. A lot of decisions, probably too many decisions, get made by the top two or three people in the company when oftentimes there’s great ideas, better ideas, than you may have up in the executive suite coming from the folks that are interfacing the customer each day.
(Finding the right person for the conversation is) the function of the best fit for that particular job and the availability. There is the reality of not everybody is available all the time. We try to build some redundancy of capability in each of our departments so there’s usually not just one person who is perfect for that decision opportunity, there’s usually a few that will contribute equally well.
And I’m a big believer in giving the younger members of an organization opportunity to succeed and to stumble and learn from it. Then, they’re better for the experience.
Sit and strategize. The way this would generally work is myself or one of the other senior leadership members would frame up the issue at the start of the meeting. We’d make sure there is cross-functional representation in the meeting with people who have the authority to speak for their functions.
We’d outline the key issues, throw up a few alternative solutions that might be under consideration to get the discussion started, have a quick discussion we try and keep all of our meetings under an hour.
Then, (release) the hounds to debate it and do some quick scenario modeling and then come out with a couple of good alternatives.
One of them might emerge as the clear solution. In the case that there’s not and there’s differing opinions, then that’s where the executives get paid to make the tough decisions. You pick one and put it into action and go forward.
Be willing to adjust. You’ve got to be willing to admit when you’re wrong and make an adjustment to the plan.
You can’t be dogmatic, or as we say in the SEALs, ‘You can only spend so much time trying to clear a bad parachute before you cut it away and go to your reserve.’ If you wait too long to make that decision, you’re going to have a mouth full of dirt.
In general, No. 1, try to be quick to claim mistakes and slower to claim credit. My guys know that, at the end of the day, I’m the one who is ultimately responsible for the outcomes. They know that they have my faith and confidence to go forth and experiment. If something doesn’t work, then we pull back, we figure out what went wrong and we figure out what we should do to make it right.
This is an early-stage, rapid-growth business, where we are moving very fast and with always a scarcity of information that’s just the environment in which we live.
It’s a forgone conclusion that some of the time we’re going to get it wrong or we’re just not going to get it as right as we wish we’d had.
How to reach: Fitness Anywhere Inc., (888) 878-5348 or www.fitnessanywhere.com