Business & Economy

How Contingency Planning Helps Startup Manage Risk - J.T. Allen

In Chapter 5 of 14, entrepreneur J.T. Allen learns goal setting rarely goes as planned. Contingency planning - planning for things to not go smoothly - provides Allen insurance against the unexpected. His company, MyFootpath.com, uses multiple approaches to build cushion, including personnel flexibility, cash flow reserve strategies, and project portfolio approaches.

How to Shift College Education Marketing Strategy - J.T. Allen

In Chapter 4 of 14, MyFootpath.com founder J.T. Allen learns different motivations driving individuals to seek a college education.  Specifically, Allen sees the variance by demographic and, further, differences in purpose.  This recognition helps Allen adapt marketing strategy and shift customer focus from high school students to mid 20s to 40s clients.

How to Create a Profitable Education Services Firm - J.T. Allen

In Chapter 3 of 14, MyFootpath.com founder J.T. Allen shares how he and his mother started the company to help others navigate education and how it has evolved into a focused, profitable education information services business built for growth.  Ten years of experimentation has shaped MyFootpath.com's business model into helping people find what comes next in life.

How Startup Goals and Strategy Evolve - J.T. Allen

In Chapter 2 of 14, entrepreneur and MyFootpath.com founder J.T. Allen reflects on 10 years doing business the evolution of goals and aspirations in that time. Success did not come immediately, and Allen highlights how perseverance through three strategy shifts has allowed MyFootpath.com to see 10X revenue multiple growth between 2008 and 2009.

What Prompted Management Consultant to Start Company - J.T. Allen

In Chapter 1 of 14, MyFootpath.com founder J.T. Allen discusses the confidence-building elements empowering his decision to leave his Ernst & Young management consulting position and transition into his education information services entrepreneurial role. Fundamental to the shift was the experience Allen gained doing business strategy client strategy planning projects around market entry, positioning, cost-cutting, and revenue growth.

How to Create Sports League Sponsorships - Jen Duberstein

In Chapter 15 of 18, Major League Soccer (MLS) legal counsel provides Jen Duberstein learns to mitigate risk in structuring and negotiating contracts.  Duberstein learns why drafting sponsor fair agreements must lock sponsors into business terms and reduce termination risk.  She finds larger deals, inculding expansion agreements, must include huge non-commitment penalties in protecting league interest and weighing business risk vs. legal risk.

How to Apply Law Degree in Pro Sports Job - Jen Duberstein

In Chapter 14 of 18, corporate attorney Jen Duberstein learns why business decisions affect how legal action is taken in her in-house sports league counsel work at Major League Soccer (MLS).  Duberstein's daily responsibilities focus on how contracts affect business - sponsorships, partnerships, intellectual property sharing - and impact individual groups and clients. The in-house position teaches Duberstein motivational tools and business fundamentals necessary to managing a sports business.

How Prosauker Big Firm Experience Advances Sports Law Career - Jen Duberstein

In Chapter 13 of 18 of her 2009 Capture Your Flag interview with host Erik Michielsen, attorney Jen Duberstein builds experience working at a large law firm, Proskauer Rose - http://www.proskauer.com/ . Duberstein embraces the daily opportunity to work with one thousand smart people and benefits from the collaboration and intellectual osmosis within the large firm environment. The abundance of intellect provides Duberstein, now a Major League Soccer legal counsel, resources to make stronger, better supported decisions. View more career learning and development videos at http://www.captureyourflag.com

How Law Firm and In-House Roles Differ - Jen Duberstein

In Chapter 12 of 18, Jen Duberstein, now a Major League Soccer (MLS) legal counsel, shares the challenges in transitioning from the Proskauer law firm associate culture to an in-house position for media company Time Warner.  Duberstein learns how in-house positions expose lawyers to broader business culture and focused company objectives that contrast with broader responsibilities and pure legal focus withing law firm environments.

How Sports Job Teaches Lawyer Business Skills - Jen Duberstein

In Chapter 10 of 18, Major League Soccer (MLS) attorney Jen Duberstein aspires to more business-focused roles in business development and legal affairs after setting and attaining a 10-year goal to work in legal counsel for a major sports league.  Duberstein's broad exposure to corporate governance, marketing, and promotions across many departments and partners has helped her understand the business of sports, providing necessary experience to embrace next steps in her career.

How Corporate Lawyer Lives Passion Working in Sports - Jen Duberstein

In Chapter 2 of 18 in her 2009 Capture Your Flag interview with host Erik Michielsen, Major League Soccer (MLS) legal counsel Jen Duberstein shares how developing an passion for watching sports and participating on teams early in life shaped career aspiration.  This leads Duberstein to law school, where she focuses her career on becoming a corporate lawyer practicing in the sports industry. Learning to trust and collaborate with others on teams prepared Duberstein for law school at Northwestern and her subsequent career at Proskauer Rose - http://www.proskauer.com/ , Time Warner, and MLS.  View more at career learning and development videos at http://www.captureyourflag.com

What Motivates Lawyer to Practice Law - Jen Duberstein

In Chapter 1 of 18, corporate lawyer Jen Duberstein builds skills and experience she uses to help others.  This validates her motivation and reinforces her purpose for why she does what she does.  Through 18 months practicing law, Duberstein, now a Major League Soccer legal counsel, gains confidence in what she knows and further applies her knowledge to help clients.

Joe Stump on How General Manager Role Challenges New Entrepreneur

In Chapter 16 of 16 of his 2009 Capture Your Flag interview, entrepreneur and SimpleGEO co-founder confronts new challenges present in starting a business. Managing and motivating staff as a general manager promises to be a big initial challenge for Stump as he builds headcount and assembles a product team.

Transcript:

Erik Michielsen:  Where is your entrepreneurial transition challenging you most?

Joe Stump:  I would say management is challenging me most. At Digg, I was not a direct manager; it was more like captain of the football team.  I’ve always been more in those type of positions and much more comfortable in those type of positions.  Now, I have to plan, do sprint planning, I have to implement that, follow up on that, there is paperwork minutae that is involved with that.  Then, figuring out how to motivate people.  There is a lot of stuff that goes into being a good manager and I don’t think I’m a great manager right now.   So I think that is what is challenging me the most.

 

Joe Stump on How Side Projects Teach Coder Marketing and PR

In Chapter 15 of 16 of his 2009 Capture Your Flag interview, programmer Joe Stump develops skills not learned at work with side projects on nights and weekends. These efforts help bolster Stump's customer- and media-facing experience across public relations, marketing, and customer support. He eventually leaves Digg for a startup, www.simplegeo.com, where drawing on these skills becomes necessary to manage daily operations.

Transcript:

Erik Michielsen:  How have your side projects, whether it is iPhone application development or PleaseDressMe.com, contributed to your entrepreneurial development?

Joe Stump: The things I’ve learned from that are you need to build buzz & PR.  You need to engage users.  Customer support is a huge thing.  If people are using your product and having problems with it, you have to react and iterate.  I think that those side projects – none have them have been what I consider technically challenging at all – but they have all been challenging to me in terms of “how do I take action on customer support?”, “how do I promote this?”, “which promotions work the best?” and that kind of stuff. 

 

Joe Stump on How to Successfully Blend Mentoring and Friendship

In Chapter 14 of 16 of his 2009 Capture Your Flag interview, Digg colleagues Jay Adelson and Kevin Rose support Joe Stump with friendship, life lessons, encouragement, mentoring, and entrepreneurial guidance. From a post-surgery hospital pick-up through a decision to accept a leap into starting a company, the constant support provides Stump reassurance when making big life and career choices.

Transcript:

Erik:  How did your friends from Digg, Jay Adelson and Kevin Rose, inspire you to take steps and be an entrepreneur?

Joe Stump: What Jay has taught me is that you can be a good human being and be a good businessman at the same time.  Jay is one of my favorite people.  I think one of the best things about Jay, one of the best stories I can use to convey Jay’s personality is: I had back surgery a couple years ago and Jay and Kevin picked me up from the hospital.  Jay came up to my room and was like “well, you ready to go?” and I was like “yeah.”  The nurse was in there.  I introduced him: “this is my boss, Jay.” And he was “I’m not your boss today.  Just a friend picking you up.”

Kevin has influenced me and mentored me.  Basically, he made me accept the fact I was an entrepreneur and that I had to do this.  He also helps me a lot with product and stuff.  Kevin is really good with product. 

Jay did the same thing, where he was “You have to do this.  I have always known you were an entrepreneur. It’s just a matter of you accepting it.”  He has also mentored me a lot on the business side.  Raising venture capital is an extremely – it’s an interesting game to say the very least – and having someone like Jay, who at this point, he has taken a company public, he’s raised probably a couple hundred million dollars over multiple rounds of financing, he knows everybody.  Having a guy like that you can call up and say  -“I have this term sheet, can you talk about it” - it’s invaluable.  You cannot put a price on it.  There are other entrepreneurs out there that would give their pinky to have that

 

Joe Stump on How Solving Tech Problems Helps Make the World Smaller

In Chapter 13 of 16 of his 2009 Capture Your Flag interview, entrepreneur and programmer Joe Stump defines his technologist role as solving problems to make the world smaller through making technology as accessible to people as possible. Stump aims to lower Internet user technology barriers to entry. He provides examples from eNotes, specifically getting people accessible, easy-to-use study materials to elevate classroom performance, to Digg, getting people information they want so they may share and discuss with others.

Transcript:

Erik Michielsen:  How do you take your passion for building virtual skyscrapers as a programmer and map that to a deeper life purpose?

Joe Stump:  I feel very strongly that technology has changed humanity for the better.  The world is becoming smaller, and that is a great thing, and technology is making that happen at a pace that we would have never been able to achieve without it.  My purpose as a technologist and as a programmer is to facilitate that as much as I can and to make technologies as accessible as I can.  As an engineer, I look at the world and see problems that need to be solved…and I think that is core to being a guy – they say men are fixers. 

My passion is technology and the great thing about that is technology is something that, right now, and has traditionally a high barrier to entry, and I like lowering those barriers to entry.  At Digg, it was about getting people the information that they want and allowing them to share it and discuss it as easy as possible.  At e-notes it was about getting people the materials that they needed to get As in class and making it as accessible and easy to use as possible.

 

Joe Stump on How Recoding Websites as a 20-Year Old Advanced Career

In Chapter 12 of 16 of his 2009 Capture Your Flag interview, Joe Stump shares two early career confidence building experiences. As a 20-year old, Stump is tasked with building out large scale websites and e-commerce architectures. This trust, aimed directly at someone others might deem too young for the responsibility, shapes Stumps perception for what is possible as well as his appreciation for being responsible and accountable with large projects. Over time, Stump builds upon these, ultimately landing a lead architect role at Digg.

Transcript:

Erik Michielsen:  What life experience did the most to bolster your self-confidence?

Joe Stump: I would say there were a couple things where people took chances on me and I succeeded.  One of them was Keith at Portable Computers when he took a chance on me to rewrite – I mean he literally handed the keys to the kingdom over to a 19-year old kid. 

So I rewrote the whole website in PHP, and that went well, which directly led to me getting the job at Care2.  Matt there took a risk again.  Here is this 19-year old - I turned 20 two days after the interview.  So here is a 19-year old kid from middle of nowhere Michigan and he took a chance, moved me out there and I worked on a huge website.  Those are probably the two big things where people took chances on me that forever changed the course of who I am and what I do. 

 

Why Blogs Remain Relevant as Media Business Transforms - Mark Graham

In Chapter 11 of 13, New York Magazine writer Mark Graham highlights why blogging remains relevant amidst shifting media and publishing business models, especially for weekly print publications. Blogging continues to make more substantial impact both within Internet based context and overall business context. Graham highlights examples within his daily environment as well as detailing importance news organization collaboration plays in blogging performance.