Russ: This is the BusinessMakers Show heard on the radio and seen online at theBusinessMakerss.com and this is the show about the innovators, the entrepreneurs.
John: That's right Russ these people are working hard every day and they're not just working hard making stuff but they're innovating, they're hiring people, they're serving needs of the consumer out there and it's really kind of a magical thing. The way that this economy works when it's virtually left alone.
Russ: Correct.
John: Yeah.
Russ: It is not being left alone these days.
John: No it's not.
Russ: Alright and here's our lineup for today. First up Chuck Ashman founder and chairmen of Business Matchmaking, also president of SMA global. Chuck's been on the show a couple of times before and man oh man is he every the match maker of connecting small business with big opportunity. And then a couple of his business matchmaker partners. First up Phyllis Myers small business director of Dun and Bradstreet. And then that's gonna be followed by an interview with David Heffner VP of Cody systems. But first. That's right it's time for the BusinessMakers's school of business. Not your ordinary business school.
John: No it's not I'm not sure what it is but we have fun doing it and since we're not charging anybody tuition or student activity fees I mean you don't have to worry about any scandals in our athletic department because we don't have an athletic department.
Russ: That's right.
John: We just kinda cut loose once a week and shoot from the hip but most of this information we have is true based on fact. Most of it.
Russ: Most of it.
John: Yeah. Most of it is yeah.
Russ: Most of it is based on our fact checker.
John: Right fact checkers that work slavishly work every day on this material.
Russ: That's right, that's right and we kick off the school of business each week with a quote of the day.
John: Quote of the day.
Russ: And today's quote takes a little explaining first.
John: Mm-hmm.
Russ: The quote is by Steven Jerislowsky who is chief executive of a Canadian money manager company called Jerislowsky Frazier limited. And they were one of RIMs that's research in motion's biggest shareholders. Now research in motion.
John: Very large.
Russ: They launched the BlackBerry.
John: I know they're in a little bit of trouble these days.
Russ: They are.
John: Their market cap is falling off a cliff.
Russ: They are in - and that's kinda related to the quote from Steven Jerislowsky. He was talking and explaining why recently his firm went ahead and dumped the bulk of its stake in BlackBerry they had 10.2 million shares and his feeling is the Blackberry has run its' course and the quote is explaining that. It goes like this a soufflé doesn't rise twice.
John: Correct.
Russ: Ok so you know unfortunately for those that are RIMs stock holders boy you're looking kinda bleak right now right.
John: Yeah it is.
Russ: And that brings us to this week in business history what happened right here at the end of June and the very beginning of July in business history.
John: Well this week in business history in 1854 a guy named Abraham Gesner patented kerosene.
Russ: Whoa.
John: Now this guy he had a very interesting life. He was always fascinated with chemistry and he learned a lot about explosives and in the late 1840s he discovered a process for distilling a cheap fuel that would burn brightly but without odor but before he could do much with this he became entangled in a legal battle that almost dragged him into insolvency. And he fled to New York City where he proved the process and you know never became wealthy for it but he managed to stay out of debtors prison.
Russ: That's great. Well kerosene has been huge I mean.
John: It's still around.
Russ: Yeah it is.
John: Cause people still use it. Right.
Russ: Yeah.
John: This week in business history the U.S. cartoonist L.Z. Segar creates Popeye.
Russ: Whoa now wait what year was this?
John: Oh 1929 this week in business history.
Russ: Alright well wow.
John: Man, yeah, that's right, yeah.
Russ: Popeye sheesh.
John: And Bluto and Olive Oil and Whimpy.
Russ: Yeah, yeah, yeah. He put the whole spinach crop agriculture business on the map.
John: Well I think as - I think that big spinach was behind the whole thing.
Russ: You think [Laughter]
John: I think they funded the whole thing yeah. This week in business history in 1943 the pay as you go first withholding tax from paychecks starts up.
Russ: Whoa.
John: And this turned into a very, a big bonanza for all those government folks that like to spend our money because it was just. They didn't have to wait for the filing every year they just would confiscate it out of your paycheck.
Russ: And you've always contended that's a huge disservice to the consumer, to the individual because we don't kinda think that we're actually paying it.
John: No, no cause it's just magically out of your paycheck.
Russ: Right.
John: if everybody had to sit down at the end of the year and write a check you'd be - I think it would be different I don't know.
Russ: It'd be very different.
John: This week in business history in 1948 the transistor as a substitute for radio tubes is announced at Bell Labs. That's a, the transistor changed everything.
Russ: Yup.
John: That was huge.
Russ: They used to use those vacuum tubes.
John: Right, they would take up a lot of space and everything - the transistor is about 1/20th the side of a vacuum tube.
Russ: Which for me - absolutely. Which for me first sort of appeared in the late 50s when we started getting those little transistor radios.
John: Yeah right man it was great man little miniature radios.
Russ: People couldn't under - now if you look back those miniature radios look huge compared to what we can do today.
John: Right talk about something Sony innovated later on but it's all because of the transistor, the miniaturization of electronics. Which actually was - has been accelerated by the space program.
Russ: Absolutely.
John: They're trying to make those payloads lighter and lighter and lighter all the time. This week in business history in 1953 the first corvette is manufactured which later spawned the famous TV show route 66. By ____ Todd.
Russ: Yes, Yes.
John: Neither of them could afford their own private corvette so they each had to - they would share a ride.
Russ: They bought one together. Drove around first just on route 66 helping solve problems.
John: Then they ran out of people to help. So they branched out.
Russ: They branched out yeah that's right.
John: The expanded their territory.
Russ: Right.
John: Now this week in business history in 1962 Ross Perot begins electronic data systems and that was a big huge success, made him rich and the rest is history for that guy. That's still making money. Now this week in business history in 1963 the Beetles first song from me to you hits the UK charts.
Russ: You think they knew back in 63? I mean they were probably real happy when this song from me to you hits the UK charts I mean they were on the charts.
John: Yeah.
Russ: Yeah wonder if they thought this might be the only one we're on the charts. We might be a one hit wonder. Or we might be --
John: I'm sure they were very entrepreneurial the group of guys.
Russ: Yeah, yeah, yeah.
John: They worked hard and I'm sure they probably didn't know how long the success was gonna last.
Russ: Right.
John: And yeah they were very creative.
Russ: Oh yeah.
John: As are a lot of entrepreneurs also this week in business history in 1972 Ms. Magazine Gloria Steinem the earst while feminist.
Russ: Right.
John: Liberal feminist you might say begins publishing her magazine, still publishing.
Russ: Right.
John: Former playboy bunny as a matter of fact. She went undercover to you know expose what those poor women have to go through and try to be. Of course if it was that bad why were they bunnies to begin with?
Russ: Right.
John: Why don't they go work at a checkout counter somewhere?
Russ: Or start a magazine.
John: Start a magazine right. This week in business history in 1979 here we go another one of these gadgets Sony introduces the Walkman. That was the first portable tape player.
Russ: A cassette tape player.
John: Yeah then it went to CDs.
Russ: Right.
John: No it was just, it was sorta - I used to have one of those.
Russ: I used to have one too and what it did is that it made listening via headphones easier and portable and.
John: Yeah you could take them on airplanes and school and all that. And now that, then the MP3 players came out and bye, bye Walkman. Okay this week in business history in 1985 here we go. Route 66 ceases to become an official U.S. highway. I think because of that corvette.
Russ: Yeah.
John: Causing all those potholes and everything they decided hey we can't keep this road up anymore.
Russ: Right.
John: So Route 66 went from Chicago to Santa Monica California and it was decertified. I mean how cruel.
Russ: How cruel.
John: I know that is cruel doesn't the U.S. Government have anything better to do?
Russ: Then to decommission.
John: I wonder how much money it costs them to certify a high way you know.
Russ: I felt bad for the highway.
John: Yeah what'd the highway every do and there's still pieces of it there.
Russ: I know right.
John: - it's been decertified it's kinda like Pluto you know when it was decertified as a planet.
Russ: As a planet right.
John: But Pluto didn't do anything that we know of we gotta start a decertification museum or something. I'd like to decertify the guy in the white house you know he's first on my list right now. Okay this week in business history 2008 Bill Gates steps down as chairmen of Microsoft Corporation to work full time for the Bill and Malinda Gates foundation.
Russ: I guess then he was decertified as the leader of Microsoft.
John: Yeah he decertified himself.
Russ: That's right.
John: It's good that you know someone does that gets into philanthropy he's not forced into it or anything he just decides he wants to do it and you know for the most part it I'm sure they spend money wisely.
Russ: Yeah I read a recent article though about him taking this step and stuff and it was kinda critical. It says I think that the economy in the world would be better served by him continuing to innovate in the free enterprise world.
John: That's right.
Russ: And it's tough to give away money and have it work effectively.
John: Especially when you're giving it away to other countries that are run by dictators. Guess who gets most of that money.
Russ: That's right the dictator.
John: That's right and it's - the best way for a country to emerge from poverty the abject poverty is to liberalize their government and give the people a voice and encourage them to start their own companies and businesses and work for themselves.
Russ: Right and that's our lesson from our history lesson today.
John: That's right.
Russ: Alright good lesson. That brings us to the Jargon challenge round. Also known as our vocabulary test.
John: That's right.
Russ: And I chose a word and John doesn't know it and has to come up with his best guess meaning.
John: Yeah using all my faculties.
Russ: You bet are you ready?
John: Yes.
Russ: Today's word is it's a two word noun.
John: Mm-hmm.
Russ: Pancake people.
John: Pancake people. Hm.
Russ: I might need to give you a little bit of a hint.
John: Yeah.
Russ: it has to do with a group of people and how they sort of behave on the internet.
John: Oh okay. Pancake people.
Russ: Yeah. Now I'll give you another hint you have described yourself sometimes tongue and cheek as being sort of a pancake person.
John: I don't know somebody who eats pancakes while they're on the internet?
Russ: You got it, no that's not it sorry. No it's internet users who read widely but without depth. When I say tongue and cheek you always say.
John: I always say I have a wide amount of surfer's knowledge.
Russ: And that's another word for that is a pancake people. You could probably be the president of the pancake people association.
John: The amalgamated brotherhood of pancake people.
Russ: Right. Pancake people.
John: I can't wait till that first union dues.
Russ: Right, alright, that brings us to dumb moments in business do you have a story for us?
John: Yeah this is amazing and I don't know really what to make of it to be honest with you.
Russ: Alright.
John: 21 year old man was out drinking has to go to the bathroom decides to urinate in a reservoir in Portland Oregon.
Russ: Yeah.
John: And I would say the leadership of the city kind of over reacted.
Russ: Okay because he got caught apparently.
John: Well he got caught, he shouldn't be urinating you know but.
Russ: But we all do urinate we have to.
John: Yeah you have to and you know what are you gonna do you gotta go, you gotta go. The city decides to dump 8 million gallons of drinking water out of the reservoir.
Russ: Because of this?
John: Because of that yeah and.
Russ: You're kidding?
John: And a lot of people called and thought it was an overreaction since a lot of animals go into the reservoir.
Russ: There's all kinds, ducks.
John: Yeah birds and I'm sure they don't you know. They don't have a little duck outhouse somewhere where there's a little picture of a duck on it.
Russ: Even if they did it probably still would eventually seep back in.
John: That's right, that's right and you know people were really kinda in sense about what they did and what do you think?
Russ: I think it's a joke I mean they dumped out 8 million gallons of water because of this. What a waste, what a waste alright anyway.
John: And the guy said he felt guilty and bad about the whole thing.
Russ: The urinator?
John: The urinator yes.
Russ: And before we wrap up this morning's school of business it's time for that very popular PKF Texas entrepreneur's playbook. So let's welcome Greg Price on the piano.
John: And here he is, a 1, and a 2, and a...
Greg: This is Greg Price with PKF Texas' entrepreneur's playbook. The other day I was reading an IBM discussion on work in today's world and here's what the white paper discussed. In spite of and perhaps because of an increasing, complicated, and constantly changing business environment. Organizations are under intense pressure to get work done faster, cheaper, and more effectively. The basic mechanics of work as we know it are being redefined. Work as it's called is no longer bounded by co-workers proximity or time zone. It also involves a much broader setup of workers, not just employees but supplies and partners but customers, freelancers, and increasingly capable network of smart devices and interconnected systems all tied together by business processes that span organizations time and distance. In our own consulting solutions group we support several global organizations with their ERP and CRM needs on a 24 by 7 basis.
Our clients expect us to be there for them globally. IBM conducted a survey on work with over 250 organizations and their analysis surfaced several key findings. One leading organizations use smarter working practices far more extensively than their lower performing peers. And they're doing so to fuel growth not just drive efficiency. Two across organizations the three most pronounced capability gaps blocking greater agility are; A process and skill reconfiguration, B Broad and more embedded collaboration, and C integrated real time information for decision making. And number three the most dynamic collaborative and connected companies have widely adopted specific technologies that make smarter working practices viable. As the pace of change accelerates and business complexity intensifies what will differentiate an organization from its competitors? IBM's researchers believe that the answer lies in how it works. Not how hard it works but rather how smart it works. What do you think? To read and comment on the PKF Texas entrepreneurs playbook visit my blog at GregSaid.Com and be sure to check out the new mobile ready website at PKFtexas.com. PKF Texas the fit, that's right.
Russ: Alright that wraps up this morning's school of business. Stay tuned in for our discussion with Chuck Ashman founder and chairmen of Business Matchmaking. Followed by an interview with Phyllis Myers small business director of Dun and Bradstreet. And then a discussion with David Heffner VP of Cody Systems. This is The BusinessMakers Show heard on the radio and seen online at theBusinessMakers.com.
