Russ: Good morning. This is The BusinessMakers Show heard here and online at theBusinessMakers.com. And this is that show about the people that most positively affect our lives - the innovators and the entrepreneurs.
Esther: That's right, Russ and as John Beddow likes to say, these are the athletes and the artists of our free enterprise system.
Russ: Oh you got that right and speaking of -
Esther: Right on the money.
Russ: - John Beddow, he's away on assignment and sitting in for him is none other than Esther Steinfeld, Founder of AllCEOsAreNotJerks.com and PR Director of Blinds.com; a regular guest interviewer here at The BusinessMakers Show and host of The BusinessMakers Overtimes Show. Esther thanks for sitting in.
Esther: Oh, it's great to be here.
Russ: Okay, for those who have not been tuned in to what's really happening these days, tell them about BusinessMakers Overtime.
Esther: Well, The BusinessMakers Overtime Show is actually a podcast only show. It launches every Wednesday morning. You can get it sent to your email box. You can go right to theBusinessMakers.com/overtime and listen to it streaming from the site. It's a really great show hosted by myself and my co-host Katie Laird. We are going to tell you all about what's going on in the business world but kind of in the, the quirky realm of the business world.
Russ: I'd say so.
Esther: Yeah, we talk about all kinds of crazy stuff, you wouldn't even believe.
Russ: Well I say -
Esther: Sometimes I can't believe what's going on in the show.
Russ: Well I say the two of you really get after it. It's cool and the idea in the beginning was to add a little energy and spunk and youth to The BusinessMakers family and man, the two of you have done that real well.
Esther: Oh, we're just like old friends, now. We've shared all kinds of nonsense.
Russ: There you go. Okay and before we get to today's lineup, we got to tell you about what we're all abuzz about around here and that is the new PDQ meetings product. Some of you should know. It was the subject of last week's guest interview and it is the face-to-face communications platform we are using here at The BusinessMakers Show.
Esther: It is phenomenal. I was sick with the flu and I was able to have a videoconference meeting with the entire team -
Russ: Face-to-face.
Esther: -without infecting everybody.
Russ: That's right. It is, it is real cool. I like to describe it sort of like as a multi-user Skype system. Now Skype is real cool but you know, you get to just look at the person that you're talking to but to be able to hold a meeting. In our case, I think we had five of us and boy it's up close, face-to-face communications.
Esther: And the sound quality is really phenomenal, I think. I could hear everybody so clearly. It was great.
Russ: Go to pdqmeetings.net and check out why we're all excited.
Esther: We are excited.
Russ: You bet. All right and here's today's lineup. First up for the Aflac BusinessMakers Flashback, we are going to roll back to November of '09 when I got to sit down with economist Michael Economides, the author, the energy expert, the guy who has the PhD in chemistry from Stanford. He is a smart smart guy and it is a smart interview. And speaking of smart guys, for our featured guest segment this morning I get to interview Josh Wolfe, this is the second time, we interviewed him two years ago. Josh Wolfe, the co-founder and managing director of Lux Capital. But first...
Russ: That's right. It's time for The BusinessMakers School of Business. And like we like to say here, Esther, this is not business as usual school.
Esther: Okay. Well, I'm ready to learn.
Russ: All right.
Esther: Got my cap on.
Russ: All right, good 'cause first up, each Saturday morning, we kick it off with the quote of the day and today's quote comes from Barry LePatner. He's a speaker and author, known as America's Construction Industry reform guru.
Esther: Hm.
Russ: Here it is: "Good judgment comes from experience and experience comes from bad judgment."
Esther: Well that's true.
Russ: I think so, too. I think it makes a lot of sense.
Esther: I completely agree. I think I've learned from a lot of bad experiences and a lot of bad judgment over the years.
Russ: Oh, you learn more from those, I think, than good judgment.
Esther: You definitely do.
Russ: Okay. Okay and that brings us to This Week in Business History and you're our history professor this morning. So take it off, Esther and tell us what happened in this week in business history.
Esther: This week in business history in 1854 the Republican Party formally organized in Wisconsin.
Russ: Okay, wow. So that means 156 years old, the GOP is. Woo.
Esther: That's right . Grand Old Party.
Russ: Okay, big week. All right there you go.
Esther: This week in business history in 1868 the stapler was patented in England by C. H. Gould.
Russ: My goodness.
Esther: The stapler, you know and 150 years later, we had Office Space.
Russ: There you go. That's right. All right, good stuff.
Esther: Yep. This week in business history in 1873 censorship, the United States Congress enacts the Comstock Law, making it illegal to send any obscene, lewd or lascivious books through the mail.
Russ: Okay, well, I guess before 1873, you could do anything you wanted, man.
Esther: Uh, yeah.
Russ: 'Course, sometimes you know, when you really look at the laws, the censorship laws on obscenity, man the, the Internet sort of just turned that world upside down completely.
Esther: Oh yeah. Actually one of the most notable revisions of this law came as a result of Roth v. The United States -
Russ: Ah.
Esther: This guy, Samuel Roth, he had a magazine called American Aphrodite -
Russ: Okay.
Esther: And it was quite pornographic for the time being -
Russ: Okay.
Esther: - and sent that through the mail and they decided, well, maybe it's okay if they send that through the mail.
Russ: Oh, okay.
Esther: Uh huh.
Russ: So, so that turned it back over and you could do it again?
Esther: That was - yep, yep.
Russ: Okay.
Esther: This week in business history in 1912 Albert Berry makes the first parachute jump from an airplane.
Russ: My goodness.
Esther: Yeah. Captain Albert Berry is one of two people credited as the first person to make a successful parachute jump from a powered airplane.
Russ: Wow.
Esther: Yeah.
Russ: Well, I mean you know the first two, one whatever that decided they could jump out and float down, man, had to have a lot of courage.
Esther: Uh yeah. Especially because he dropped from a plane and his weight pulled the parachute from a canister. Some kind of like metal canister thing.
Russ: Okay, okay.
Esther: Yeah. That sounds safe.
Russ: Okay. Do you do any of this skydiving stuff?
Esther: I would never in my life -
Russ: Okay, all right.
Esther: - jump from an airplane. Would you?
Russ: Well, no. I think I share that with you. I have several good friends that were real good pilots and they said never jump out of a good airplane. Never.
Esther: [Laughter]
Russ: There's no reason.
Esther: I completely agree.
Russ: I do too.
Esther: I'll stay, I'll stay in the airplane.
Russ: All right.
Esther: This week in business history in 1919 prohibition is ratified.
Russ: Wow, so that started a lot of heavy drinking, then. Once prohibition kicked in, it seemed like, "Man, everybody thought this is special stuff, we need to drink a lot more."
Esther: Exactly. And you know we kind of have some of these similar issues going on with medicinal marijuana -
Russ: Oh yeah. Yeah.
Esther: - because at the time doctors were arguing that they needed alcohol to prescribe to patients who were in pain.
Russ: Right, right.
Esther: They were using it as a painkiller. So -
Russ: Right, right. Well the whole marijuana thing has been quite unique and unusual since the late '60s I think, too but boy there seems to be momentum going now -
Esther: Oh yeah.
Russ: -at least using it for medical purposes.
Esther: Oh yes.
Russ: So to speak but anyway. Cool.
Esther: Yeah.
Russ: All right.
Esther: This week in business history in 1923, Time Magazine debuts.
Russ: Wow, 87 years old. Time Magazine.
Esther: That's right.
Russ: Now it's still pretty interesting. I remember reading it regularly when I was in high school. I think my parents kind of laid it out thinking, "Here's away to get exposed to what's going on in the world," and it was cool. I mean it kept me and my sister up to date.
Esther: Yep. It's still keeping people up to date today.
Russ: That's right.
Esther: This week in business history in 1924 "Happy Birthday to You" published by Claydon Sunny.
Russ: It is so interesting, too, that there are rights to that song that essentially keep restaurants from singing the original "Happy Birthday". That's why you hear all these cock-eyed versions of it, too.
Esther: That's right.
Russ: And I think it's the Warner Music people that own it today but it's interesting to hear a song like that you sang since you were a kid and rights are owned for it for sure.
Esther: This week in business history in 1933 New York City premieres King Kong.
Russ: Oh yeah. The original King Kong, too. Now - now you're so young you probably have never seen the original one have you?
Esther: I haven't, no.
Russ: Okay. But you - did you see the subsequent one?
Esther: I should see it. Ah, no I didn't.
Russ: Okay, well. Then you can see them in chronological order now. [Laughter]
Esther: I get the gist. Monkey - not - he's - what is King - he's a gorilla?
Russ: Yeah, a huge gorilla.
Esther: Gorilla climbs, yeah.
Russ: Climbed up on the Empire State Building and -
Esther: I should see that.
Russ: Yeah, you should.
Esther: Yeah.
Russ: Okay.
Esther: This week in business history in 1935 Nylon was discovered by Dr. Wallace H. Carothers.
Russ: Okay. Wow. That started a lot of products cooking, too.
Esther: And you know what's - actually this is interesting. He was working for DuPont at the time when he discovered this -
Russ: Oh?
Esther: - and the research people there actually discovered, or invented, Teflon, Mylar, Kevlar and Lycra among many other -
Russ: Wow. Okay.
Esther: - materials that we use every day.
Russ: Okay, cool.
Esther: This week in business history in 1940 Gone with the Wind wins eight Oscars.
Russ: Okay, now have you seen Gone with the Wind?
Esther: That I've seen, yes.
Russ: All right, good, good. [Laughter]
Esther: Yes. Got to see that one.
Russ: Well there's so much happening these days, I mean with the web and the media and movies that I think it's a lot easier for people, and your generation particularly, just to not want to see those things because there's so much else to absorb and watch but boy these are the classics.
Esther: Absolutely.
Russ: Okay.
Esther: This week in business history in 1942 the birthday of Lou Reed in Freeport, New York. He's a rock vocalist for the Velvet Underground.
[Music: "Walk on the Wild Side"]
Russ: 1942 so that makes him 68. Woo.
Esther: Oh yeah. This week in business history in 1960 the first Playboy Club featuring bunnies opened in Chicago.
Russ: Okay, yeah.
Esther: Chicago, not Vegas, huh?
Russ: Right, right. I think that was the headquarters. I think Hef started the whole thing in Chicago.
Esther: Yeah.
Russ: But at one time I think there were like 10 or 12 of these Playboy Bunny Clubs around and I think they did well for a few years and then they just gradually evaporated.
Esther: I think people might like - people might like to bring those back.
Russ: Well they could.
Esther: I know some people who might enjoy that.
Russ: Okay. Yeah.
Esther: This week in business history in 1961 JFK names Henry Kissinger as special advisor.
Russ: Now, that might surprise a few people because Kissinger played such a key role in several Republican administrations but it was John F. Kennedy that first brought him to Washington, D.C.
Esther: Huh.
Russ: Cool.
Esther: This week in business history in 1962 K-Mart opens.
Russ: Okay, the blue light special store.
Esther: That's right. This week in business history in 1965 the Temptations release "My Girl" reaching number one.
[Music: "My Girl"]
Russ: What a hit that is.
Esther: It's still a hit.
Russ: Are you familiar with that song?
Esther: Uh, yeah.
Russ: Okay, good I just want to make sure.
Esther: I think you have to be living under a rock not to know that one.
Russ: Well yeah, I, I think so too.
Esther: Yeah. This week in business history in 1968 singers Johnny Cash and June Carter wed. Aw.
[Music: "Jackson"]
Russ: Oh yeah.
Esther: Sweet.
Russ: Yeah. Now did you see the movie?
Esther: I did. That was a -
Russ: What a movie.
Esther: - that was a, ooh, yeah.
Russ: That's great.
Esther: That was a real good movie.
Russ: You bet.
Esther: This week in business history in 1969 the first test flight of the supersonic Concorde -
Russ: Well those were incredible flying machines. I don't know if they were ever practical, economically because you just couldn't put many people on them but man, the speed to cross the Atlantic was really cool.
Esther: Truly amazing.
Russ: All right.
Esther: This week in business history in 1979 Mr. Ed the talking horse dies. Aw.
Russ: And you know who Mr. Ed is?
Esther: That's sad. Yeah, of course. The talking -
Russ: All right. All right. [Laughter]
Esther: Come on!
Russ: I don't know anymore. I mean -
Esther: I'm 26.
Russ: All right, yeah but - [Laughter]
Esther: I'm - [Laughter]
Russ: Yeah but this was like, that was 31 years ago when he died.
Esther: You know actually I really used to watch a lot of Nick at Nite.
Russ: Okay. Nick at Nite is what introduced you to the world, cool.
Esther: [Laughter] All the - that's right, that's right.
Russ: All right.
Esther: This week in business history in 1981 Walter Cronkite signs off as the anchor man of CBS Evening News.
Russ: Man and what credibility he had.
Esther: Oh gosh. You know he's from Houston?
Russ: Oh yes. Oh yes.
Esther: And I - he - we went to the same middle school.
Russ: Oh is that right?
Esther: Lanier Middle School.
Russ: Really?
Esther: Yeah.
Russ: Wow. You and Walter.
Esther: That's right. Me and Walter. We have something in common.
Russ: Okay cool. Cool. Yes you do. Right.
Esther: Pretty good. This week in business history in 1983 compact disc recordings developed by Phillips and Sony are introduced.
Russ: Okay so the CD first showed up 27 years ago and it's essentially on its way out, now, too.
Esther: That's right. Only took a little - almost 30 years for it to become obsolete.
Russ: Yeah? Yeah, it did. It did but it's amazing sometimes how quickly those media things turn over.
Esther: Oh yeah.
Russ: I mean you know before that like cassettes were going to be the answer. I think they only lasted about eight or ten years. Before that was LPs, the long playing albums. Before that -
Esther: Eight-tracks.
Russ: - 45s, 8-tracks were in there. You're right. Good.
Esther: Yep, yep.
Russ: I'm impressed. You know what an 8-track is.
Esther: Hey - you know.
Russ: All right, cool.
Esther: Not that I've ever listened to one but -
Russ: Okay, you've heard of them.
Esther: - I know what it is.
Russ: Okay, cool.
Esther: This week in business history in 1997 smokers must prove they are 18 to purchase cigarettes in the United States.
Russ: That was interesting too. Boy when, you know, when I was 15, it didn't matter. You know maybe even when you were there, I mean -
Esther: No, I don't think I could ever -
Russ: You never could smoke?
Esther: You know I've never bought a pack of cigarettes in my life, ever. No.
Russ: You haven't? Well congratulations.
Esther: That's actually something I'm very proud of.
Russ: Well you should be. All right, cool.
Esther: This week in business history in 1998 gay rights - this is actually very interesting - Oncale v. Sundowner Offshore Services - the Supreme Court of the United States rules that federal laws banning on-the-job sexual harassment also applies when both parties are of the same sex.
Russ: Wow and the company was Sundowner Offshore Services?
Esther: Yes.
Russ: That's interesting, too.
Esther: Yes.
Russ: Well they certainly did the right thing there, the Supreme Court did and it's kind of interesting.
Esther: It's actually - it's quite gross, the details of it.
Russ: Really?
Esther: Ah, yeah. And the man was actually heterosexual.
Russ: Yeah.
Esther: He was not gay and he was basically assaulted on this offshore rig.
Russ: Wow.
Esther: The original decision on the case was that he had no grounds for sexual harassment or, you know, that he was being harassed -
Russ: Right.
Esther: - because -
Russ: It was a man.
Esther: He was a man, yeah.
Russ: Wow.
Esther: But turns out nobody - neither party was gay, however it was kind of a victory for the gay community.
Russ: Okay. All right so that wraps up your history lesson for this morning?
Esther: That's it.
Russ: All right.
Esther: I hope you learned something.
Russ: No, good job, Esther. I'm impressed, particularly with you knowing all these things that happened way, way, way before you were ever paying attention.
Esther: You know -
Russ: Good job.
Esther: - I read a lot of things on the Internet.
Russ: There you go. There you go. All right, well that brings us to Navigating Business Jargon. This is our vocabulary lesson and since you're sitting in John Beddow's seat, what that means is that you're supposed to guess the meaning to this new, happening, techno speak acronym word that I get to choose, okay?
Esther: Oh gosh. It's like Balderdash.
Russ: Absolutely. And I choose the word and I say the word and then you're supposed to guess the meaning.
Esther: All right.
Russ: But I don't think you're going to have a problem with this at all.
Esther: I will guess the meaning.
Russ: Yes, it is new jargon and the word is Bingster.
Esther: Psh. Great, now you - you made it sound like I was going to know what this is. I don't have a clue.
Russ: Bingster. Think about it.
Esther: Bingster?
Russ: Have you heard of Bing, lately?
Esther: Yes, of course.
Russ: Yeah, so what would - what would a Bingster be?
Esther: Uh - I don't have a clue.
Russ: All right. Buzz - time's up.
Esther: [Makes buzzer sound]
Russ: You are a loser.
Esther: Wah wah.
Russ: It's very simple. It's a person who uses Microsoft's new search engine instead of the others.
Esther: Oh.
Russ: A Bingster.
Esther: Interesting. I was thinking it had something to do with Napster. Like it was some kind of -
Russ: No, no -
Esther: - file sharing.
Russ: - no, no. Bingster.
Esther: Oh.
Russ: I knew John Beddow would never get that, so I thought I would save it for you.
Esther: You're way up on your te- you know -
Russ: Okay.
Esther: - despite what people think about me, I don't know anything about technology.
Russ: Okay! [Laughter] Wow.
Esther: [Laughter]
Russ: You had us fooled until today, Esther.
Esther: I don't, I don't.
Russ: All right and before we wrap up this morning's School of Business it's time for the very popular PKF Texas Entrepreneur's Playbook. So let's welcome Greg Price on the piano.
Greg: This is Greg Price with PKF Texas' Entrepreneur's Playbook.
How do you keep in touch with your former employees, or "alumni"?
Corporate alumni groups are becoming increasingly important as the Baby Boomers retire and the Millennials job hop every two to three years.
There are many benefits to a company establishing a formal alumni group. They include:
- Extending your recruitment network. Just because an employee left your firm doesn't mean they don't know someone who would be a perfect fit for the company.
- Business development and quality referrals. Alumni who feel connected to your firm are likely to be some of your most vocal advocates in the marketplace.
- Extending your network into other industries.
There are several factors that you should take into account to ensure the success of your group:
- Enlist top-level support for the program
- Establish clear goals and objectives for the group to manage expectations both from the company side and the alumni side
- Be sure current employees are familiar with the program. They can promote it to their former colleagues.
Most often, the alumni are meeting on their own, why wouldn't you want to be a part of the conversation?
To read and comment on the PKF Texas' Entrepreneur's Playbook, visit my blog, fromgregshead.com. And be sure to check out the new mobile ready website at PKF Texas.com - PKF Texas, The Fit That's Right!
Russ: Alright, and that wraps up this mornings School of Business. Stay tuned in for the Aflac BusinessMakers Flashback, as we roll back to our interview with Dr. Michael Economides. And then for our featured guest segment, I get to talk with Josh Wolfe, co-founder and managing director of Lux Capital. You're listening to the BusinessMakers Show heard here and online at thebusinessmakers.com.
