Today I was inspired by my good friend Corey sending me a text message related to the latest news that Mark Zuckerberg, the founder of facebook, had decided to become a part of “The Giving Pledge.” For those who are not aware of what the giving pledge is I will sum it up briefly for you: it’s a group of extremely wealthy people, formed by Warren Buffet and Bill Gates, in which everyone in the group agrees to give the majority of their wealth to charity by the end of their lives or at their death.

While the concept is noble, I’d like to look at the economics of a hypothetical question: What if each one of those billionaires, most of whom got their money by starting a business, used their money to start or fund other businesses; specifically a mission driven business?

Let’s say that one of these billionaires decided to not donate 15 billion dollars, but to start a privately held pharmaceutical company with the funds. I’m not talking about funding research, I’m talking about starting a for profit company built to compete with the likes of Novartis or Pfizer. By the company being privately held, it doesn’t have to appease shareholders but instead it can keep an altruistic mission, and that could be to reinvest ALL profits into curing cancer not just the vague “cancer research.” At the same time this new company stimulates the economy (and increases the tax base) by hiring an entirely new staff. By introducing a new competitor it helps push the cost of our every day drugs down, thereby reducing the amount the government needs to fund prescription assistance programs (allowing us to pay down the US deficit, or even continue our generous foreign aid program). Putting 15 billion dollars into funding something like this ensures greater than just a 15 billion dollar donation, it ensures employment, it ensures a vision is kept, and in the end it has the ability to have far more of a positive impact on the world through countless years of research, development, AND sales. (Note: I’m aware that this isn’t possible overnight, mainly due to strenuous FDA regulations, but what if?…)

What if instead of a pharmaceutical company, someone set up a $10 billion dollar venture fund with offices around the world for businesses aiming to make a change, with the stipulation that at least $100 million (or some arbitrary number) a year had to be invested in new companies trying to make a positive change? Encouraging investing in companies like TOMs shoes, where for every shoe you buy a pair gets donated to a child in a 3rd world country. Investing in a company like Adaptive Eyewear, the company that is creating glasses for 3rd world countries where the prescription of the lens can be changed by the person wearing it; they are LITERALLY giving sight to people who would otherwise not have it (watch this video on them). What if they took that fund and invested in small businesses throughout Africa? Spurring entrepreneurship and encouraging organic growth within the continent instead of constant reliance on foreign aid that is taken by corrupt politicians.

The bottom line is that the majority of people on the list have succeeded because of capitalism. They have the money they have because of capitalism, and they know the good that capitalism can bring to a country and to the world. They ARE the definitions of capitalists, and they know what it takes to fulfill a vision. They ought to also know that a business, set up with a good mission and vision, with hundreds or thousands of employees working towards the vision can do an immense amount of good for the world, probably more good than donations can…

What if?…

Have any other ideas? Share them below, I’d love to hear them.

No related posts.

Truth be told, I was never really a huge sports fan, but I admit to being a bandwagon fan for most of the local sports teams. I “loved” the Cowboys growing up, but then again, I grew up in Dallas in the 90s; I’m pretty sure the Dallas Cowboys were part of my school district’s curriculum. The Mavericks continually sucked until Mark Cuban bought them while I was in high school, I got swept up with Stanley Cup fever in the late ’90s when the Stars had their runs, and the one team I always loved, the Texas Rangers, well…they were the Rangers and you really couldn’t count on them for anything (I do have very high hopes for the future of the franchise though).

When I went to college in California I moved away from all of my home teams, and I didn’t follow professional sports. I didn’t care. I had convinced myself that the people who watched sports continually were the people who didn’t have anything better to do with their time, and I certainly had better things to be doing with my time. I was continually creating, learning, being active, and working. I could never relate to the guys who talked sports all the time, but if they wanted to talk business, politics, or even pop culture I could relate. I made it all the way through college that way. Soon after graduation (and marriage) I got a job and was whacked in the face with a new reality: pro sports are important in the real world.

In the real world most people won’t talk politics with you for fear of offending you (or someone else), not many people want to talk business because that’s what they do all day, and pop culture conversations are so trivial that no one cares; but sports were the gateway into the groups that I found myself most wanting to be a part of. Sports provide the venue for every type of talk from the business of sports, to the trivial items like who Tony Romo is dating. Sports gives you the level playing field (pun intended) to hold your own in a conversation with anyone from the CEO to the UPS guy. (Side note: All of the sports leagues know this and charge ticket prices in accordance).

Talking sports is about relationships. The emotional connection that forms between you and “your” team, the relationship that forms with your coworker because his team is your teams rival, and the relationship of feeling that if you can have a good conversation with someone about sports, you can have a good conversation with them about anything. On the contrary, when meeting someone who doesn’t follow sports it’s extremely difficult to break the ice and find a common ground.

Up to date knowledge of sports is a key part of business in today’s world because businesses are about relationships, and sports can be the key to developing strong relationships. It’s taken some time for me to get back up to speed in my sporting knowledge, but it has served invaluable thanks to my improved ability to network and build relationships.

No related posts.

Our sole purpose of the trip was to go to Lulu Lemon, a company known for their expensive, yet incredibly well designed workout clothes for women. For years (since she discovered them in Los Angeles) Mary has raved about how incredible the clothes are and how smart and creative they are in the design. For instance, the first piece of workout clothing I remember seeing with a built in iPod pocket it was a Lulu Lemon top that Mary got in 2005; and the first jacket I remember seeing with a thumbhole to keep the jacket sleeve from riding up was also a Lulu Lemon that Mary got. They are an extremely smart and innovative company, but I’m getting ahead of myself now.

During the 20 minutes we were there I did what I always do in retail establishments, look like the hopelessly lost husband and critique the finish out of the store. My critique was as follows:

First off, they claim to have the most comfortable couch in the Dallas Galleria, and having been a patron to many of those couches over the years, it lives up to the hype.

Second, the finish out of the store is incredible. It gives you the feel of open, earthy, and reclaimed materials (whether it is or isn’t reclaimed is a moot point, the feel of it is what sells) and all of the island displays and shelves in the store are on wheels so they can wheel them out for free group yoga classes (for which they are known). It is truly a beautiful store and comfortable store.

The final thing I critiqued is the purpose for this whole post. I wandered back to the dressing room area and found the chalk board pictured above. This is the place where they post consumer feedback and ideas on their design. As you can see they take their customer feedback very seriously. So seriously that they display it publicly for all to see.

You can tell that this company is working hard to stay on their toes and be foreword thinking to remain ahead of the competition. You can also see that they know the specific things they need in order to keep that edge: “Innovative, Specific, or Measurable” feedback. Maybe it was a customer that came up with the idea for an iPod Pocket? Maybe it was a customer that came up with the idea for a thumbhole in the sleeve of the jacket? Either way, what matters is that they are listening. They are listening because they know if they don’t stay on their toes, a more innovative and hungrier company is going to come around and knock them on their ass much like they did to everyone else in women’s sports apparel industry a few years back.

Why don’t more companies abide by this?

By posting this feedback publicly, other consumers can build on the ideas and help the company develop something even greater. If someone has a complaint, maybe another customer could help resolve that complaint? If a customer has a great idea, another customer can help validate the idea as someone who would purchase it. They are essentially crowd sourcing products and innovations!

I applaud you Lulu Lemon, and I accept the price of your clothing because I like the way you do business (this is a statement that I reserve for a very VERY select number of companies because accepting a price wouldn’t be too frugal of me).

No related posts.

As a result we are all extensions of the brand wherever we go. After work when we all go out to happy hour we are walking advertisements and representatives for the brand, and the way that we carry ourselves reflects back on the companies brand; if we slip up, have a few too many, or are rude it reflects back on the brand. We know that this is the case, so we all go above and beyond to act gracious when we get complimented outside of work (very frequently) or attentive and helpful if a customer has a concern. It is clear my employer views us as a physical extension of the brand.

This concept isn’t new, it’s proven, and works, but now is the time for companies to take it a step further.

It seems like everyday I read in the blogosphere about a personal brand and why you need to have a solid online identity which includes, but is definitely not limited to Facebook, Twitter, and Linked In. I always read pretty basic reasonings on why we all need a personal brand, mainly so companies can find you, you can control and own your online image, and so you can market yourself. I agree with all of these things, and I’m not here to offer any new advice on creating a personal brand; for that I recommend going to the master, Dan Schwabel.

What I am here to do is ask a question. Why don’t companies view their employees online personal brands as extensions of the companies brand?

Think about where you represent your company on the internet. Do you have your employer listed on Facebook or Linked In? Do you have a website that contains your resume?

These are primary places where we as individuals represent our employers in todays world. If you have an inappropriate photo on Facebook and your employer is listed, like it or not that photo reflects back on the company and the next time you are in a meeting with someone who has researched you, they might know about that picture of you doing body shots from your last vacation to Mexico. Yes, that is a poor example, but now let’s look at the other side; say you have a strong personal brand, you protect your online image, you blog, you tweet, you are active on Facebook and on great websites like Brazen Careerist; that online presence and your following is a fantastic venue for you to be a steward for the company, instantly adding more value to the company should you choose, or be allowed, to promote your employer.

“That sounds great! Promote us,” your employer might say, but wait…it’s a two way street.

Think of the way large conglomerates advertise their brands. Ziploc, Pledge, and OFF! are all S.C. Johnson Brands. When you look at each of those brands you know they are something different and individual, yet part of something bigger. Every time something good happens to the smaller brand, something good is happening to the bigger brand. If Ziploc has great sales, then that helps S.C. Johnson’s bottom line. On a box of Ziploc there is an S.C. Johnson logo, and on the S.C. Johnson website they feature Ziploc, even at the end of every commercial you hear “S.C. Johnson, a family company.”

Much like the conglomerates there is a mutually beneficial relationship online between an employee with a strong personal brand and their employer’s brand. If I put up on an “About Me” page laying out where I work and what I do in my day job with a logo and a link to the company, I can instantly help give credibility to my employer if you’ve never heard of them, and you might be more inclined to go visit the company. On the other side of the coin, if my employer has a link to me on a company page, it can instantly help give credibility to me as someone who is employed by a great company.

Zappos has a great start at just this, twitter.zappos.com provides realtime streaming of their employees on twitter, but I think it should go a step further. Why not promote employees with good personal brands? Photo, website link, and twitter feed, all on the companies website. Make employees comfortable being online ambassadors for the company by encouraging it and giving them the ability to reach out on the companies behalf even if it’s not their job. It’s even in the companies interest to help employees develop a personal brand online.

The best way to increase brand awareness online is being represented, and if you have a good relationship, what better people to represent you and give you presence than your employee or employer?

No related posts.

I am about to take the biggest risk I have ever taken as an entrepreneur, and it’s not a financial risk…it’s about you.

Over the past two years I have written a great deal about business, personal finance, and Gen-Y, and in doing so I’ve built what I believe is a pretty decent following. I’ve tried hard to be consistent, not allow guest posts, and keep focus on my journey through life while staying both Young and Frugal. Many of you have stayed with me from the writing droughts to the Forbes issue and I appreciate it; but I want to give you fair warning that it’s all about to change.

Soon it’s no longer just going to be a soapbox for me to stand on, it’s going to be about you; and while I’m excited, I’m also scared. I’m scared because you read this blog because somewhere, somehow, my writing peaked your interest. Maybe you’re young and trying to get through life too, maybe you are older and just enjoy the read, or maybe you’re family and you feel some sort of obligation to read (don’t). The risk is that I will make you not want to come back, the risk, as vain as it sounds, is that I am this sort of glue that keeps you here and without it being only me you’ll lose interest. I don’t want that to happen.

A couple of months ago I mentioned how I was going to shake up my life a bit by pursuing a new Young and Frugal, and on April 1 (no joke) I will be “flipping the switch” on the new Young and Frugal, and I’m extremely excited. I want you to stay on as a reader and one day contributor, I want to challenge you to do things you never thought possible. I want you to help me prove to the world that it is possible to be not only Young and Frugal, but Young, Fun, and Frugal.

Will you accept the challenge?

Want more info? Be sure to fan our Facebook page for more details and inside information!

With the new site, comes a new subscription method. You can (re)subscribe below. We are only initially launching in the cities below, but plan on expanding in the future!

If you are interesting in accepting the challenge for your city, please be sure to let us know! (Note: this does not guarantee that you will be selected)

No related posts.

As we grow older everything seems to move at a faster pace, and in the interest of time we begin to accept things instead of wondering about the intricacies of why. We easily forget our curiosity that once wasn’t even satisfied by answers; we lose the curiosity we all used to have.

As adults we all too often look at the simplest items and see them for what they are; a pencil is a pencil. We forget about what it was like to have a sense of wonder, to open our imaginations to the endless possibilities that one simple tool could provide; we forget the wonder we all used to have.

You can get it all back, the eyes, the curiosity, the wonder, it just takes time. Not time as we know it at this stage in our lives; the “let me block out some room on my calendar” time, time as in slowing down.

Today I slowed down to examine a pencil, and it was the best part of my day. I didn’t have a bad day, but taking the time to examine a pencil instead of just use it was that good. I slowed down looked at it and let my mind wonder; I was instantly enthralled by it’s shape, I became curious as to how many lines of writing were required to flatten what was once a sharp lead tip, and thought about the words, no matter how brilliant, that had been permanently vanished by the now depleted eraser. Whose pencil was this? And how did I come to possess it?

These questions led to more and more, soon I was thinking about the business behind pencils and pondering on what would make this pencil better. In this moment I regained my childlike eyes, curiosity, and wonder. It was spectacular!

Slowing down is all it took, slowing down allowed me to rid myself of the cynicism that somehow creeps into all of us and made everything wholesome and good again.

The eyes, the curiosity, the wonder, we all still have it, we just have to slow down and allow ourselves to let it come out.

No related posts.

Seth Godin say’s that “you can’t have good ideas unless you’re willing to generate a lot of bad ones,” and while I’ve generated a lot of bad ones, I’ve also had a few gems. The funny thing about those “gems” is that after many false starts, I’ve come to realize that that the concept or idea doesn’t matter, it’s all about how passionately the idea is pursued that makes it worthwhile.

For example: the Snuggie.

Generally speaking the Snuggie is not a brilliant or even original idea (it’s been in SkyMall under a different name for years); basically someone marketed a bathrobe being worn backwards. But it’s a hit, people love it to love it or they love it to mock it, either way it is selling like crazy! In fact, the only reason we all know about this lackluster idea is that someone was crazy enough to wear a bathrobe backwards and passionate enough to see his idea all the way through. (The marketing and pop culture phenomenon behind it is a completely different case study).

Back to my problem: I need something to look forward to entrepreneurially. I have a few fairly well thought out ideas, one of which is a complete revamp of this site to allow for “user generated content” (kind of), another would be very legally intensive because it borders on the line of legality (though everyone I’ve pitched it to loves it), and yet another is to start my own juice bar (I’m kind of obsessed with smoothies).

While I am confident all of the ideas would work, figuring out which concept to commit myself to is another question. Revamping this site would hands down be the easiest and least capital intensive, though the revenue model is questionable. At this stage it’s probably a tossup for the most capital intensive concept between the storefront and the legally questionable concept (which would obviously require a legal team.) The most exciting idea is legally questionable (would create incredible buzz…I already own the domain), the most promising is probably revamping the site, and the juice bar probably has a chance to do the best from a cash-flow standpoint.

My problem really comes down to me being horrible at making decisions. I hate making them; in fact, I’m horrible at it, the only way I cope in day to day life is that I force myself to make a quick last second decision because I know I will be fine either way (Soup or Salad?).

Currently I’m leaning towards revamping the site due to the fact that it is the easiest to moonlight. I still have a lawyer looking into some things for me to see if the waters are navigable for the other concept, but for capital purposes at least I should be able to see a relatively quick result on the website, as opposed to the other two.

I’m sure I’ll always be keeping my eyes open at various ventures, and coming up with random ideas that would work if I was passionate and pursued them, but for now, I’ve built what I feel is a pretty good brand and I’d like to follow it down the rabbit hole to see where it takes me.

After too long, a site revamp is coming. Stay tuned, and I may just need your help.

Thanks for listening.

No related posts.

Too often people pour their souls onto the Internet, whether it be a friends wall posting or a blog post, and once it is up, it is permanent. A snapshot of how you were feeling at one point in time has been published to the world, and you can’t change your mind on it. We are the first generation that grew up with social media, our lives are practically public information from politically incorrect jokes we write on a friends facebook wall, to the many many inappropriate pictures of us that other people took and tagged us in. For many it won’t really matter, but for those with big dreams (specifically business, political, or athletic) it may.

For the last 7ish weeks I’ve obviously taken a bit of a hiatus from writing. Some of the hiatus had to do with writers block, some had to do with a lack of desire to write, but a good bit of it was actually me censoring myself. As a writer who draws from his own life experience for just about every post, it’s now much harder to write since my co-workers know about this site. Now, if I write about a bad day at work, even if I write about what I’ve learned from it and try to spin it in a positive light, I could come off as complaining (something no one likes). If I write about how I really messed something up, I could (or would in one instance) become a direct target for all the blame, when I shouldn’t be.

Protecting your personal brand online is fairly easy, and protecting it offline is too, but when those worlds collide it becomes a much different world. These instances are even becoming newsworthy: someone on disability posts facebook pictures of them skydiving, someone fires an employee then updates their status telling the world why, or my personal favorite someone gets a job offer then tweets about it saying how the money is great but the company sucks. I’m not saying to have two different “brands” but think of it like this: your work persona vs. your out at the bars persona. Your friends may not care how you act at work, but your boss may care how you act out at the bars.

Over the coming years, as more members of Gen-Y run for office, and further succeed in business and sports it will be interesting to see the scandals that come from all of this, but I think the bigger question is, as Gen-Y becomes even more of an influence will anyone care about poor decisions posted on facebook or twitter? After all we’ve all had them.

No related posts.

“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.” -Antione de Saint Exupéry

All 135 characters of this quote fits snugly into the 140 character limit of Twitter, but instead of just tweeting it (which I did), I blogged it.

I think it’s fairly obvious why, but at the risk of having excess I will explain. I had a whole blog post centered around the quote, but the rest wasn’t an improvement on what he wrote, it was excess.

All I can say is that throughout our lives we surround ourselves with excess, excess house, excess car, excess cable channels, excess words in a blog post. And all of this excess only leads to more excess; electricity bills, gas bills, cable bills… We live highly inflated lifestyles believing that these things make us happy, but the feeling of happiness is fleeting, takes us off track, and leaves us wanting more. Our car is no longer the latest and greatest, so we trade it in for another, a bigger/slimmer TV comes out so ours is already outdated, our wants turn into “needs” and we truly think of them that way. When this happens we lose focus of the little joys that make us happiest; things like watching the sunrise, reading a good book, meditating, and spending time with loved ones.

I won’t proclaim to have the answers to perfect happiness, but I would bet that it starts out by stripping away the excess in our lives.

No related posts.

No related posts.