The Next Wave of Business

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Why Google doesn’t care about hiring top college graduates →

Yup, ability to learn is a requirement for the new workforce.

“For every job, though, the No. 1 thing we look for is general cognitive ability, and it’s not IQ. It’s learning ability. It’s the ability to process on the fly. It’s the ability to pull together disparate bits of information. We assess that using structured behavioral interviews that we validate to make sure they’re predictive.”

— 1 week ago with 2 notes
CEOs Too Focus on Fortunes and Not Enough on Creating Things →

Whereas many young people used to be be interested in creating things, Phelps says, today, many of his economics students are singularly focused on building their fortunes working on Wall Street.

During a conversation with Inc. president and editor-in-chief Eric Schurenberg, Phelps said that America has lost much of its pioneering spirit as it pertains to entrepreneurship.

"Another thing I argue—that is perhaps tied up with the money culture—is I think CEOs have become short termist, and I think the financial sector is very short termist," he says. "There’s such a preoccupation with liquidity and such an unwillingness to invest beyond the horizon of the next quarter and making sure that the CEOs hit their quarterly earnings."

— 1 month ago
The Zappos Way of Managing →

Unlike the world’s great religions, the Tony Hsieh Unified Happiness Theory is not entirely settled. It involves establishing balance among four basic human needs: perceived progress, perceived control, relatedness, and a connection to a larger vision. And because Hsieh’s life is his company, the test subjects are Zappos employees. “I’ve got a few different frameworks, and I’m just figuring out how to combine them,” he says without irony or even a smile. “I think I’m pretty close.”

(Source: thoughtscreen)

— 1 month ago with 2 notes
The Internet Needs a Better Way to Handle Money. This Startup Has the Key →
— 1 month ago
#startups  #financial technology  #online payments  #new business 
Why the Digital Skills Gap Is a Productivity Killer (Infographic) →

Roughly 200 million adults in the U.S. today make up the “digital workforce,” where productivity requires skills using a number of digital platforms.

Amazingly, only one out of ten workers from this group rate themselves as proficient with the digital tools they use, according to video training company Grovo. 

This skills gap costs the U.S economy a whopping $1.3 trillion every year, and comes at a time when productivity growth is already down over historical periods. For example, the Wall Street Journal reports that the average U.S. worker’s output has risen just 1.3 percent per year during the past five years, well below the 2.3 percent figure during the 20 years leading up to the economic crisis. 

The infographic below from Grovo outlines the cost of the digital skills gap and which skills are essential for the 21st century workforce.

5 STEPS

  1. Define Goals
  2. Define Skills
  3. Assess Skills
  4. Design Training
  5. Repeat Model (keep up to date)

8 CORE SKILLS

  1. Platform Flexibility
  2. Search & Research
  3. Digital Etiquette
  4. Security & Privacy
  5. Project Collaboration & Management
  6. Attention Management
  7. Communication
  8. Working with Documents 
— 1 month ago with 1 note
#digital skills  #digital skills gap  #digital workforce  #digital platforms  #skills gap  #new work  #new work force 
When all the jobs belong to robots, do we still need jobs? →

But as I said in my review of Piketty, there’s a real scarcity of economists willing to think about the possibility that abundance makes markets obsolete altogether. Property rights may be a way of allocating resources when there aren’t enough of them to go around, but when automation replaces labor altogether and there’s lots of everything, do we still need it?

I don’t know, but I think the unwillingness of economists and thinkers to even contemplate it tells us that we’re arguing about what kind of railroad rules we should have once there are automobiles everywhere.

— 1 month ago with 1 note
#new business  #scarcity  #automation  #economics  #skilled labor  #labor shortage  #robotics 
"

In today’s global economy here is what is scarce:

1. Quality land and natural resources

2. Intellectual property, or good ideas about what should be produced.

3. Quality labor with unique skills

Here is what is not scarce these days:

1. Unskilled labor, as more countries join the global economy

2. Money in the bank or held in government securities, which you can think of as simple capital, not attached to any special ownership rights (we know there is a lot of it because it has been earning zero or negative real rates of return).”

"
Tyler Cowen, Average Is Over (via thoughtscreen)
— 2 months ago with 2 notes
Silicon Valley’s Real Estate Crunch Is A Golden Opportunity For Other American Cities | TechCrunch →
— 2 months ago
How to turn a security guard into a skilled worker →

Shinola, a watch and leather goods maker, has done the impossible in its Detroit factory: cracked the code on how to skill up workers.

Willie Holley is one of them. He used to be a security guard for the company. Two years ago, he asked if he could try making watches and underwent a rigorous training program that teaches the obscure art of fine-watch assembly. Now, two years later, he’s a line leader, managing other watchmakers, and gets full benefits and a higher salary.

As the US crawls out of a jobless recovery, it seems unbelievable that manufacturing companies claim they can’t fill jobs. But according to the 2014 ManpowerGroup survey, firms who employ manufacturing occupations report the biggest shortage of talent; according to a 2011 study by Deloitte, 5%n of manufacturing jobs go unfilled due to a shortage of appropriate skills.

— 2 months ago with 1 note
#new business  #usa manufactoring  #detroit  #training 
Walmart helped me become an entrepreneur →

Given all the bad press Walmart gets about its workers, let me tell you why they are still the world’s largest retailer: it is because they are still doing something right.

He replied, “You think global. You think beyond what you can see. We managers receive tons of problems everyday. What we need are solutions… Also, you are fun- you’re personable. Let me tell you something: Never forget the power of a personal connection. You keep being who you are, and keep using that power, and you will go twice as far.”

So perhaps Walmart took me on as an intern with the hopes that I would become a future store manager. But in the end, perhaps that wasn’t the purpose at all. The purpose was to teach me things about myself that I never would have learned otherwise.

— 2 months ago with 1 note
How This Serial Entrepreneur Made All Eight of His Companies Profitable →

FOCUS ON CUSTOMERS

Just as you need to know what not to spend money on, you need to make smart investments that will translate into recurring revenue. “One of the areas [where] we invest a lot, and shows in our customer loyalty, is client services and support. We made a decision to provide 24-hour support a long time ago. It’s expensive, but it’s the type of service when your customers need to speak with someone live, they can,” he says. “Having high-quality customer support gives our clients more confidence in us. It helps foster loyalty and our customers continue to spend more money with us.” He says automated systems kill your reputation with clients, especially if it’s a large account with a Fortune 500-size company.

— 2 months ago with 1 note
These 7 Motivational Navy SEAL Sayings Will Kick Your Butt Into Gear →

1. The only easy day was yesterday.

2. Get comfortable being uncomfortable.

3. Don’t run to your death.

4. Have a shared sense of purpose.

5. Move, shoot, communicate.

6. No plan survives first contact with the enemy.

7. All in, all the time.

— 2 months ago
8 tips to evolve a start-up into a successful company - Virgin.com →
— 3 months ago
"

The opposite of complexity is elegance.

Embracing elegant simplicity means designing our organizations and processes with simplicity in mind. It’s about stating our goals clearly and incorporating mature, proven technologies into our designs. True sophistication, true design maturity, and true process maturity are shown through deep simplicity, not through brain-meltingly complex diagrams and structures. In other words, complexity is nothing to brag about.

"
Dan Ward (via thoughtscreen)
— 3 months ago with 2 notes
"

Cory House’s axiom:
The more time you can spend on things you can control, the greater advantage you have.

Cory House’s corollary:
The more time you spend on things that are creative and things that people buy, the better off you are.

"
— 3 months ago