Founders And VCs Reveal 21 Books Every Entrepreneur Should Read

We've polled everyone from First Round Capital's Charlie O'Donnell to Steve Blank and Brad Feld in the past few years, and they told us what books have shaped their careers. 

From Malcolm Gladwell's "Blink" to Robert Pirsig's "Zen and the Art of Motorcycle Maintenance," these books will teach you how to think -- no matter if you're a serial entrepreneur or are just starting a business.  

Let us know what books have influenced your career in the comments. 

Please follow War Room on Twitter and Facebook.
Follow Bianca Male on Twitter.
Ask Bianca A Question >

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Two Big Reasons You Should Still Worry About This Market

With stocks bouncing back, and the economy showing signs of not dying, you may be tempted to finally relax a little bit, and get some sleep, feeling confident that 2011 is more likely to be a replay of 2010 than 2008.

Maybe.

But even amidst the positive energy of the past two weeks there were red flags popping up.

The first is extreme correlation: Even on the good days, EVERYTHING that's not the dollar is going up. We keep pointing this out, that gold, for example, has been doing the exact same thing as stocks day in and day out. But it's not just that. Gold, Swiss Franc, the euro, equities, copper, silver, etc. all moving the same in lockstep. One day the dollar is down and they're all up, and one day the dollar is up and they're all done.

The general belief is that extreme correlation is a sign of market pressure -- of an unhealthy market that wants to snap.

And in fact there are others signs of this as well.

Various measures of funding strain, like LIBOR rates, continue to shoot up, with no slowdown, basically ever since the beginning of August.

Of course, a little perspective is needed on this front. We're still nowhere near as bad as where things were the great financial crisis.

Bottom line though: There ARE signs of worsening strain on the system, persisting even as things have gotten better over the last few days. Until you see correlations fade and some of these bank funding measures improve, better not turn your back.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Why You Should Question Your Organization's Culture

2:25 PM Tuesday October 11, 2011  | Comments ( )

Organizational culture powerfully influences a company's performance — or at least we say so. I often hear executives reassure me that projects will get done because "we have an execution culture," or that customers will be well taken care of because "we have a culture where the customer comes first." At the same time, culture is also one of the great rationalizations for managerial shortcomings. Many times I've heard that a project was delayed because "we don't make quick decisions around here," which is the managerial equivalent of "the dog ate my homework."

But the problem with all of these statements — both positive and negative — is that they don't really mean anything. Worse yet, they can't be translated into any kind of action. At best these declarations are vague generalizations; and at worst they are misleading stereotypes.

The truth is that most leaders don't know how to develop a useful picture of their organization's culture, which is why they resort to platitudes. However when managers can better articulate the behavioral patterns that constitute the culture, they can determine which behaviors facilitate results — and which behaviors should be avoided.

For example, a large automotive parts company had just completed a merger, and the senior team — made up of leaders from both firms — struggled with making decisions. They either took too long to decide, or the decisions just didn't stick. To fix this problem, the team asked themselves some simple questions about the decision-making culture: To what extent are decisions currently made by consensus or by the CEO (on a scale of 1-10)? On that same scale, how were decisions made at your heritage company? And on the same scale, where should the decision-making process be in the new company?

Each person on the team answered these questions separately, and a facilitator consolidated them as the basis for a group discussion. When looking at the answers, the team quickly realized that the previous companies had very different decision-making cultures (one was a slow process of building consensus, and the other used open, time-bound debate with final decisions made by the CEO). The team members also had very different expectations for how the process should work. By making these differences concrete and conscious, they were able to have a constructive dialogue that led to ground rules for decision-making.

Any management team can assess its culture by asking these kinds of simple questions across a range of organizational behaviors. For example: To what extent do we reward individual vs. team results? To what extent do we share information broadly or parcel it out narrowly? To what extent do we encourage or discourage risk?

Asking these kinds of questions can smoke out the differences in expectations that people have about the organization. Not everyone experiences culture the same way, so a structured way to discuss those differences can increase alignment and the ability to take collective action. In practical terms, culture is not an intangible cloud that hangs over a company, but an outcome of the way people behave on multiple dimensions. Better understanding of these behavioral patterns — and how each person experiences them — makes it possible to decide whether to continue them or not.

To what extent do you question your organization's culture?

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Matt Taibbi Lists The 5 Things The Occupy Wall Street Protesters Should Demand

  x You have successfully emailed the post.

Image: wiki commons

The man who called Goldman Sachs a "great vampire squid" has some advice for Occupy Wall Street.

Not that he doesn't think they're doing things well. In fact, he thinks the logic behind the protester's lack of demands is ingenious.

But if they were to figure out their specific demands. Here's where he, per his article in Rolling Stone today, thinks they should start:

1. Break up the monopolies. He's talking about the 20 or so "too big to fail" companies in our country that could single-handedly take down our economy.

2. Pay for your own bailouts. "A tax of 0.1 percent on all trades of stocks and bonds and a 0.01 percent tax on all trades of derivatives would generate enough revenue to pay us back for the bailouts, and still have plenty left over to fight the deficits the banks claim to be so worried about..."

3. No public money for private lobbying. Pretty self-explanatory.

4. Tax hedge-fund gamblers. Right now, because of the carried-interest tax break, they're only paying about 15%.

5. Change the way bankers get paid. Bonuses shouldn't be paid up-front. They should be contingent upon performance. 

Actually, the groups coalescing around the Occupy Wall Street movement have started to mention demands, though they aren't official. Here's a video of the pep talk they had before yesterdays Millionaires March. They specifically mention keeping the New York State Millionaires tax alive and well:

Please follow Clusterstock on Twitter and Facebook.
Follow Linette Lopez on Twitter.
Ask Linette A Question >

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

GERMAN MP: We Should Speed Things Up

Sam Ro | Sep. 24, 2011, 2:24 PM | 214 |   x You have successfully emailed the post. Nobert Barthle

Image: AP

Yesterday, Bloomberg reported that European lawmakers were in talks to accelerate plans for the European Stability Mechanism, a permanent Eurozone bailout fund. 

Stock markets responded positively to these developments.

Earlier today, a senior official from German Chancellor Angela Merkel's party told Reuters that he supports speeding things up.  From Reuters:

Nobert Barthle of the Christian Democrats (CDU), who sits on parliament's budget committee, said an earlier introduction of the permanent European Stability Mechanism (ESM), due in mid-2013, would help respond more forcefully to the crisis.

"I think it would make sense to push further in this direction," Barthle told Reuters, arguing that the ESM, with an effective lending capacity of 500 billion euros, will include Collective Action Clauses (CACs) prevent one bondholder from blocking a debt restructuring deal at the expense of others."

The ESM could come as early as mid-2012.

Please follow Money Game on Twitter and Facebook.
Follow Sam Ro on Twitter.

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Here's Why You Should Think Twice Before Outsourcing Your Boring Health Care Paperwork

In a post on open enrollment, one of my favorite finance sites, LearnVest, recommended something I'd never heard of--outsourcing your medical paperwork to a private company.

Sign me up, I thought--who wouldn't want a personal assistant lining up appointments and dealing with issues like misprocessed claims? If the service really worked, perhaps I could pocket thousands in negotiated claims and reimbursements.

On second thought, maybe that's a bad idea. OK, a very bad idea, says Pam Dixon, Executive Director at the World Privacy Forum, a nonprofit research group.

"Your medical records are some of the best data money can buy," she says, "and while these companies may have the best intentions in the world, consumers really need to understand the structural risks that are built in because of flaws in the law. If these companies wanted to be covered by the Health Information and Privacy Act (HIPPA), they couldn't be because they haven't met the definitions."

If you're wondering what HIPPA has to do with it, the U.S. Department of Health and Human Services offers a primer: The privacy act ensures your health information remains protected by the law and secure, whether it's electronic, written, or oral. HIPPA also sets rules and limits on who can see and use your data.

So if you're looking to outsource your life--and medical records in particular--depending on the company you deal with, you could be setting yourself up for some serious legal and identity theft nightmares. As Dixon and Bob Gellman, a privacy and information policy consultant, explain, losing rights to your data is only the beginning:

Medical identity theft is rampant, and can haunt you for years to come. From charging for services and visits that never occurred to altering your "medical identity" to reflect illnesses you don't have, this type of theft also makes it difficult for doctors to properly diagnose you, or for you to obtain health or life insurance in the future, notes World Privacy Forum. Much like having your social security number, the thief can use your health insurance id to obtain medical services and goods--that you'll have to pay for.

Also disconcerting is the risk of having your personal information wind up in the hands of marketers, says Gellman, who reviewed the privacy policies of two of the sites LearnVest cited, Simplee, which hosts medical info like HSAs and FSAs in one place, and MedClaims Liason, a full-service outsourcing company.

"As far as I can see, selling patient information directly or indirectly is the only way that [non-HIPPA covered companies] make money," he says. "Both privacy policies bury the fact that they give information to marketers. A casual reader will not notice it."

The end result could be having your personal information "end up irretrievably in the hands of spammers, junk mailers, and profilers."

And the third risk, Dixon says, is losing your physician-to-patient privileges, especially if something goes awry or you happen to fess up something a little too revealing to your doctor and the wrong person hears it then broadcasts it in the wrong place, like, say, a courtroom or brochure.

"These companies might be really trying to do the right thing," Dixon says, "but we really need changes in the law to improve this whole new area that we're starting to see in the digital area outside of HIPPA."

Until that occurs, here are three things you can do to safeguard your health data from the risks of using digital helpers:

Read the fine print. Statements like "compliant with HIPPA" or "HIPPA-compliant" are meaningless, says Dixon, and should not be taken to mean the company will comply with HIPPA. Also watch for phrases like "we may share your data with third parties."

Look out for shady seals. These don't guarantee privacy protection, says Gellman, and the company may have paid for it "in order to gloss over the deficiencies in the privacy policies." Some for-profit seals have come under scrutiny for poor oversight of their holders.

Get a copy of your medical records. If you do decide to outsource your life, if anything happens, this is the first place to go to verify the facts. Visit the American Health Management Association for more information on how to access your copy.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

FANTASY FOOTBALL GUIDE: Here's Who You Should Start And Sit In Week Three

  x You have successfully emailed the post.

Sunday marks week three of America's new favorite pastime:

Fantasy Football.

It's a multi-million dollar industry - and growing.

But who do you start? Who do you sit?

The Aaron Rodgers' and Adrian Peterson's of the world are automatic plays.

But what about some of the fringe guys?

Please follow Sports Page on Twitter and Facebook.
Follow Ariel Sandler on Twitter.

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Should The New Facebook Terrify You? The SAIcast Break It Down

  x You have successfully emailed the post. Please follow SAI on Twitter and Facebook.
Follow Linette Lopez on Twitter.
Ask Linette A Question >

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Former Argentine Central Banker Says "Greece Should Default, And Default Big"

  x You have successfully emailed the post.

The guy who managed Argentina's default in 2001, Mario Blejer, says Greece should follow suit.

He told Bloomberg:

“This debt is unpayable. Greece should default, and default big. A small default is worse than a big default and also worse than no default.”

“It’s totally ridiculous what is going on. If you assume that these countries do everything that is in the program, they do all these adjustments and privatizations, at the end of 2012 debt-to-GDP will be bigger than this year.”

Default and currency devaluation actually worked for Argentina in 2001. After shrinking 11% in 2002, the economy boomed for nine years thanks to rising commodity prices and regional growth.

Please follow Money Game on Twitter and Facebook.
Follow Gus Lubin on Twitter.
Ask Gus A Question >

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

There Are A Ton Of Good NFL Games On Tomorrow — Here's How You Should Juggle Them All

  x You have successfully emailed the post.

We're two days away from the first NFL Sunday of the season.

The good news: we've got a bunch of good games.

The bad news: they're all on at 1 p.m. (east coast) on Sunday.

The Eagles-Rams, Ravens-Steelers, Lions-Bucs, and Bears-Falcons all kick off at that time.

Here's how you should prioritize them if you don't have a prevailing rooting interest:

1. Ravens-Steelers (CBS) — One of the best rivalries in the sport. These games are always really close and really well-played. This won't be the last meaningful game between these two teams this season.

2. Lions-Bucs (FOX) — Two teams with a ton of young talent and lofty expectations for the first time in a long time. John Freeman and Matt Stafford are both poised to jump to the "elite" level this year. Should be a fun one between two squads that are new to this whole "meaningful games" thing.

3. Eagles-Rams (FOX) — An intriguing one between two teams that are favorites to win their respective divisions. A lot of people like the Rams to pull the upset at home here.

4. Falcons-Bears (FOX) — Everyone thinks the Bears are going to take a huge step back after winning 11 games last year. And everyone thinks the Falcons are going to be an offensive juggernaut. This game will give us a good idea of where each team will end up

The one other quality game — Jets-Cowboys — is at 8:20 p.m. on NBC on Sunday.

Please follow Sports Page on Twitter and Facebook.
Follow Tony Manfred on Twitter.
Ask Tony A Question >

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

11 Things You Should Know About The U.S. Postal Service Before It Collapses

  x You have successfully emailed the post.

Facing a projected $6.4 billion loss this year, the United States Postal Service may be forced to shut down this month if Congress doesn't take action.

A cushy relationship with the postal workers unions and flailing efforts to stem customer migration to the Internet have pushed the Postal Service to the brink of insolvency. The NYT reports that the agency will be unable to make to make its $5.5 billion payment to its employee healthcare plan by the Sept. 30 deadline.

In a desperate attempt to avoid collapse, the U.S. Post Master General Patrick Donahoe will ask Congress today to approve the elimination of Saturday delivery and allow the agency to break its union contract to lay off up to 120,000 workers. Without dramatic cuts, the federal government will be forced to choose between letting the agency default on its pension obligations or bailing it out to the tune of more than $50 billion.

In the end, however, these are all short-term solutions to a greater problem: The Postal Service, in its current form, is no longer needed in an era of private overnight delivery and digital communication. The agency's long-term survival will instead depend on its ability to reinvent the postal monopoly to regain relevance and profitability.

Please follow Politics on Twitter and Facebook.
Follow Grace Wyler on Twitter.
Ask Grace A Question >

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Ron Paul STILL Thinks FEMA Should Be Abolished

  x You have successfully emailed the post.

Even as Hurricane-turned-Tropical-Storm Irene continued to sweep up the East Coast, leaving 2 million people with out power, perennial contrarian Ron Paul held fast to his conviction that FEMA should be abolished.

Appearing on Fox News Sunday, the 2012 presidential candidate laughed off the suggestion that the agency's response to Irene may have changed his mind, saying that the agency is "deeply flawed" and has "one of the worst reputations for a bureaucracy ever."

"We've conditioned our people that FEMA will take care of us and everything will be OK," Paul said, "[You] try to make these programs work the best you can, but you can't just keep saying, 'Oh, they need money.' ... Well, we're out of money, this country is bankrupt….Anybody who wants to defend this department and this agency, they have a tough argument to argue for."

Please follow Politics on Twitter and Facebook.
Follow Grace Wyler on Twitter.
Ask Grace A Question >

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.