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Smar tvt june magazine 2013

  1. 1. SMART Holdings USA – Spring Issue # 8, June 2013V E R M O N T ’ S M O T O R S P O R T G U R U :R A C I N G D O L L A R S L E A V E V E R M O N TMotorsports VermontWhy Motorsports Economics Went to New Motorsport Economic Development Guru, and VP Finance, NorthernPower, Vermont Sharrow, CPA understands the powerful community & economicdevelopment proclivities of Motorsport Racing in Vermont. Sharrow is an expert inboth the history and the economics of the US Motorsport Industry. It is the mortar thatbinds his family, friends, and activities. His earliest memories recall the bonds builtsharing the fascination and exhilaration of motorsport racing with his family andespecially his father who had a strong background in hi-performance enginemechanics. Sharrow has served on Race Teams from both the business and racing sideof the enterprise and was protégé to industry legend Ken Squire. CBSSPORTS/WORLD SPORTS ENTERPRISES/KEN SQUIER PRODUCTIONS.NASCAR is a revenue driver for regions and businesses that cultivates fans, products,services, information and resources…… See Page 2 NAS – SMART Holdings USAJohn Mayer, Mark Renkert, Michael Kipp, Michael Hussey, Gabrielle Meunierdrive SMART Holdings USA economic Development Engine Creating USCompanies and Jobs . SMARTvt created a task force that provides resources,education, training, financing solutions to business startups for approved plans.About Vermonts largest solution provider featuring teams ofsubject-matter experts with one voice as one firm;, a globalVermont’s Power Center for Business Idea CreationYour IssueStart Your Engines… Vermont Summer……..consultancy offering sustainable socially responsible applications such as Hands-on Engineering, Accounting, Finance, Marketing, New Product Development,Research, Medical Devices and Technology, Pharmaceuticals, Telephony, E-enterprise, IT / IS implementation - service, Merger & Acquisition, LBO, BusinessValuation, Forensic Accounting, SEC Compliance,Petrochemical Extraction, Defense Systems, and globalmanufacturing enterprises. 
age 3, EB-5 VT Reality 101(The Bad Side of EB-5)Page 5, Racing Bike StartupPage 8, Consulting 101Page 9, Dr. Olson onLearning
  2. 2. 2SMART Holdings USA Spring Issue # 8, June 2013ManyofGreatDepressionWorkersThe 14.6M Who Lost Jobs Turned To SSDI inDesperation–Could NotRe-enter LaborForce–A Huge National Failing Not To Re-employLegionsofJobSeekersSharrow, an expert in Motorsport Racing with an encyclopedic recall of history, data, statistics, names, dates, innovations andopportunities both won and lost on the sport.He suggests that we can look to our New England neighbors to see some of the upside Vermont is missing citing Southern NewHampshire University, Sports Economist, Dr. Doug Blais, Chair, Sport Management recent report stating, “….NASCAR fans toopen up their wallets and spend over $500 to attend a race, travel 250 miles to the race. NASCAR has seen an averageattendance increase in its first 13 races to 111,533 from 102,592 last year. While still below peak 2008 figures, this is a goodsign for NASCAR and economy potentials. The income distribution of NASCAR fans closely mirrors that of the overall U.S.population with 20% making less than $30,000 and 25% making between $30,000 - $50,000.
 A Sprint Cup weekend cangenerate $100-$200 million for the local/regional economy. The economic impact of the two Sprint Cup races at NewHampshire Motor Speedway adds $179 million in spending, $103 million in income, and the creation of 2,500 documented jobswith the New Hampshire Department of Labor.New Hampshire recognized the economic opportunities and seized opportunities to win with its large number of tracks: CanaanSpeedway, Claremont Speedway, Hudson Speedway, Jolly Roger Motorsports Park, Lee USA Speedway, LondonderrySpeedway, Monadnock Speedway, New England Dragway, New Hampshire Motor Speedway, Pines Speedway, RiversideSpeedway, Sugar Hill Speedway, Star Speedway, White Mountains Motorsports Park, Winchester Speedpark.Vermont has three raceways: Bear Ridge, Devil’s Bowl, and Thunder Road and only limited sponsorship means and so driversand owners seeking to expand the market struggle said Sharrow.Sharrow’s unique perspective comes from working directly with NASCAR pioneer and Hall of Fame broadcaster Ken Squier ina variety of motorsports related capacities with extensive focus on tasks related to NASCAR Sprint Cup Series telecasts for CBSSports, TBS Sports and TNN Motorsports. In addition, performed tasks related to the operation and promotion of Thunder RoadInternational Speedbowl and Airborne Speedway. He directed public relations services for NASCAR Sprint Cup personalitiessuch as: Richard Petty, Bobby Allison, Buddy Baker, Dale Inman, Ken Schrader, Kenny Wallace, and David Ragan and remainsfriends with these sport legends.From there he functioned as a successful Motorsport Marketing Advisor designing and presenting marketing partnershipprograms for northeast regional motorsports teams. This earned Sharrow key alliances with Motorsport Accomplishments:Labatt USA, Reese’s (The Hershey Company), Jolley Associates.(See Raceway Economics Page 5 )In the sound, fury, smoke, grease and blood of the pit Sharrow served with S.D. IRELAND RACING – AMERICAN-CANADIAN TOUR LATE MODEL SERIES TEAM.These are unusual characteristics for the Vice President of Finance for one of Vermont’s most successful companies, NorthernPower where Sharrow plays a Global pivotal role in expanding Northern Power’s global foot print as a relentless advocate foralternative energy master plans, strategies, growth, job creation and economic development..
  3. 3. 3SMART Holdings USA Spring Issue # 8, June 2013All That Glitters Is Not GoldThe Real Story About the Bravado and Risk of EB-5 andhow politician’s run for cover when things go bad.By Mark Renkert, Mcsl“All That Glitters Is Not Gold,” described Shakespeare inMerchant of Venice in 1596 depicting the importance ofdiscernment when determining value.And thus can be said about the media’s campaign trumpetingjob and economic development creation of the United StatesEB-5 Program.The Burlington Free Press with Incredible Zeal reports “10,000Jobs To Be Created,” The Burlington FreePress ( )Now in light of colossal US EB-5 Failures: Vermont is one of agrowing number of states where the media blitz has raised askeptic’s brow.Morrisville, Vermont hosted a now-rejected EB-5 DreamlifeSenior Housing Project originated by Quebec Canada resident,Richard Parenteau who has funded two dozen business startsand failures over the years and lately, the Stowe ReporterNewspaper reported that Parenteau’s Dreamlife RetirementResorts, LLC which filed “Regionally” (which means that theydon’t have to meet the Job Generating characteristics mandatedby most EB-5 Projects) has raised fraud concerns overprincipal misrepresentation over partner credentials.(Quick Reference Guide for EB-5: EB-5 Characteristics EasyChart)But the zeal of chasing EB-5 Investors mirrors the Gold Rushof the 1840’s. And gold it is ..... for Investment ideaoriginators like Stenger who can get as much as $25,000+ perinvestor and each product can have up to a 100 investorsregardless whether the Investment Project flies or not.And there’s additional money that EB-5 Hosts can get: thatsright - Project Hosts get up to $35,000 in fees perinvestor. And some feel that might be the true motivationbehind many of the projects.For Jay Peak: once the I-526 had been approved, Stenger hasan additional clause in the subscription agreement that providescompensation of $10,000 per investor even if the investor didnot pursue the investment after the 30-day review periodended, making Jay Peak one of the few EB-5 regional centersthat charged (and still charges) a document fee. (moresee: are armies of hucksters traveling the world recruitinggroups of investor pools with a zeal not seen since theTime-Share-Condominium Recruitment blitzes ofyesteryear. Often with the same kinds of results.In Vermont officials sought to stop EB-5 privileges fromRichard Parenteau of Quebec after seriousmisrepresentations occurred where principal’s misstatedtheir credentials and qualifications.And in Missouri, government officials ran for cover withthe colossal failure of Mamtek International when 600-almost-jobs went “poof” as the $65M deal in Moberly, MOtanked sending the CEO to jail for theft and Missourilawmakers asking critical questions:“How are jobs forecasted and why is there no audit trailto show a job generating trail. There has to cause-and-effect linkage and it has to be clear and transparent.”“Four jobs of a promised 600 were created in the Missiouriproject– why weren’t the risks disclosed to lawmakers –why weren’t investors told that there was NOT a plantalready in operation in China?”Voters wanted to know who was to blame ?
  4. 4. 4SMART Holdings USA Spring Issue # 8, June 2013In Vermont, Bill Stenger’s EB-5 project led the thedevelopment of a large water park and indoor pool at a skiarea that increased room night visits when ski conditions werebad. But continuing EB-5 Projects a Bio-lab is currently onlyhalf-funded and a Door / Window Door Manufacturing grabthe headlines with “Job Creation 10,000 Jobs Forecasted.Says business financier and valuation expert, Michael J. Kipp,CPA, the CEO of SMART Holdings USA – “That 10,000 JobGeneration Number is a statistical impossibility and could notbe sanctioned by any Sarbanes Oxley Investment Prospectusin the United States.”Long time Stenger EB-5 alliance Rapid USA( CEO, Douglas Hulme, in February2013 distanced itself from Stenger’s investments.Seven Day’s Newspaperreported ( "Forfive years, Rapid USA had worked closely with Jay Peak toattract foreign investors. The company advertised the projectinternationally and helped investors navigate the complexprocess," but the relationship soured when Rapid USA lostconfidence in the Jay Peak Plan.In March 2013 hundreds of immigration attorneys around theworld received an email from Rapid USA that announced,“Rapid USA no longer has confidence in the accuracy ofrepresentations made by Jay Peak, Inc., or in the financialstatus of and disclosures made by [it].”Rapid USA, CEO, Douglas Hulme turned down repeatedmedia requests to elaborate on his company’s claims. But hissilence was deafening and sparked speculation about JayPeak’s ability to deliver on promises led one critic to claimthat Jay Peak and Rapid USA were violating federal securitieslaws.“Overall, we have significant concerns about [Jay Peak’s]ability to operate as a going concern,” says Michael Gibson,an EB-5 financial investment adviser who has tangled withStenger in the past and who posted Hulme’s email on hisindustry blog. “We’ve had our suspicions for years. We don’tbelieve Jay Peak is making money.”Michael Gibson is a leading US EB-5 Expert and hasreported and blogged numerous frauds and potential fraudsall over the US reportedhere: ( )Vermont politicians have stood with Stenger to date.Still…… other Politicians in other states did the samestanding by their project yet were duped while alsosteadfastly supporting the fraudulent investments.One case involved Missouri Governor Jay Nixon whoardently supported a failed EB-5 Project that jailed its CEOBruce Cole who was charged with theft and securities fraudand who was arrested with a $500,000bond. ( Nixon Promoting Mamteck Before TheCollapseMeanwhile constituents in Missouri have lost confidence intheir job creation team.While in Vermont: Stenger disputes the allegations andprovided documentation showing that sales for the seasonare up 38 percent over 2012’s dismal year — or $5.7million. Lift-ticket sales are down $400,000 from last year,Stenger says, but an increase in lodging options on themountain — 1000 more beds this year alone — has morethan made up the difference. For example, sales during thelast week of March reached $891,000, compared with$589,000 for that same week in 2011.Analyst point out that Jay’s discounted package deals haveeroded margin but boosted volume making profitabilityillusive and reliant on steep discounts.Still others don’t like how data is compiled, measured orreported.
  5. 5. 5SMART Holdings USA Spring Issue # 8, June 2013Non-Verifiable methodology reporting to US Citizens theprogram’s Job Creation and Economic Benefits are key reasonswhy The Federation For American Immigration Reform(FFAIF) opposes the U.S. Citizenship and Immigration Services(USCIS) EB-5 program.FFAIF reports that 70% of EB-5 projects fail to make four yearsof operation and that less than 1% of job touted are actuallycreated.So in Vermont’s case that would be fewer than 1,000 jobs afterhundreds of millions in investment.The FFAIF study reported: At present, the debate about the EB-5program consists primarily on anecdotal evidence of the successor failure of a handful of investment projects.Analysis of available data strongly suggest that the failure ratehas been high, and that the economic benefits provided by theEB-5 program have been negligible, at best. As the USCISOmbudsman has noted: “The bill’s supporters predicted thatabout 4,000 millionaire investors, along with family members,would sign up, bringing in $4 billion in new investments andcreating 40,000 jobs [annually]."However, the most comprehensive study of the program was a2005 Government Accountability Office (GAO) report whichanalyzed the performance of the program from 1992 through2004. The GAO found that after 12 years the EB-5 program hadonly led to $1 billion (instead of the predicted $48 billion) ininvestments and there was no reliable accounting of jobs created.To be sure there needs to be reliable and accurate reporting offacts so investors can make informed decisions.EB-5 Promoters need to be held accountable about makingForward-looking statements through the media and in theirpublicity vehicles and measures need to be taken by a governingoversight body to avoid both investor fraud and for State’staking a hit like they did in Moberly, Missouri.And while Shakespeare’s line in Merchant of Venice talkingabout gold rings true….. it is also important to remember thatthere is no such thing as a free lunch when it comes toinvestment and that EB-5 may be too unpredictable, unregulatedand wild for a State’s economic development engine to rely on.(Mark Renkert, Mcsl, is Chair of SMARTvt and is a Labor ForceParticipation Expert and who has spearheaded massive US re-employment efforts. He works as a Retained Executive SearchAdvisor, a Human Capital Strategist, and Strategic HumanCapital Development Advisor to Fortune 50 Companies wherehe serves on their Board of Directors. ( Way Economics Continued From Page 2……Sharrow continued to concur with analyst that MotorsportRacing Fan Growth and Spending has peaked during the2008 Economic Collapse but says that players in themarket are still making money.A report in Forbes Magazine ( )reports, Much of the good vibes revolve around TV.Network ratings fell 4% last year (down 6% on cable), butNascar extended its rights agreement with Fox in Octoberfor the first 13 races of each season. The new eight-yearagreement is worth $2.4 billion, a 36% increase overFox’s previous deal.Some Nascar insiders had speculated that the sport mighthave to take a haircut in the new deal after the ratingsdeclines, but they got a solid increase instead.“Television is arguably the most critical piece of Nascarbecause TV is where it gets its reach,” says ZakBrown, founder and head of JMI, which sells andmanages motorsports sponsorships. “It is veryencouraging that indicator is so strong.”To be sure some teams earn money with the HendrickMotorsport Team valued at $357M and with top driverslike Dale Earnhardt is also the highest-paid driver in thesport for the fifth straight year with total earnings of $25.9million in 2012 ranging from 7thplace driver DanicaPatricks at $12.9M.“Maybe that state of Vermont should sponsor a team theway the National Guard does……” says Sharrow, addingthe good will, hope, and publicity would trickle-down toVermont’s Motorsport efforts.See for More:
  6. 6. 6SMART Holdings USA Spring Issue # 8, June 2013Sometime in his senior year at the University of Vermont, Education Majorand Cycling Racer, Joshua Saxe, had a vision of creating the perfectlightweight durable carbon fiber bicycle frame and integrating top wheels,hubs, top brackets, breaks, chain rings, etc in building one of the fasted mostaffordable pedal-powered racing machines in the US. By coincidence hediscovered an Asian manufacturer and coordinated the production of twoframes: one for road cycling and one for mountain biking. Saxe engineeredan integrated component package and born was a true racing machine. Hespent several seasons perfecting the various combinations and now haslaunched his company: Flahute Bikes. Flahute Bikes, founded on thementality of the Flahute cyclist. "Flahute" was a term coined by Frenchjournalists after WWII who used it endearingly to describe their Belgianneighbors, the cyclists who rode the legs off their rivals over the paveand through cold rainy conditions. These were people who had theircountry torn apart by war. In this fashion, it is the mission of FlahuteBikes to continue to provide riders the means to ride the legs off theirrivals through all mediums of cycling. Saxe, a life long competitivecyclist and design engineer individualizes frames and componentsspecifically calibrated to body of the rider. Carbon Fiber, one of thestrongest lightest materials on earth is unique.
  7. 7. 7SMART Holdings USA Spring Issue # 8, June 2013It is important to note that sports sector represents only 20% of thetotal carbon fiber consumption, with bicycle partsmanufacture therefore probably representing only 5% of the globalconsumption of carbon fiber.This means that the carbon fiber materials and associated resinsthat the bike industry is using were originally developed foranother sector such as aerospace. There are no bike specific carbonfiber materials, or resins despite of what some more fancifulmarketing materials my claim.Carbon fiber use in the bicycle industryVirtually all carbon fiber bicycle component manufacturing forvarious bike brands occurs in China and Taiwan by one, or severalcarbon fiber component factories. The factories employ materialand composites engineers who research and implement the ideasand proposed solutions of the bike brands.Most commonly, the carbon fiber that is used comes in rolls ofpre-impregnated fabric, or prepreg. Since carbon fiber compositeis a composite material that combines carbon fiber and resin,prepreg means that the carbon fiber has already been saturatedwith resin. How much resin is present and what type it is dependson the grade and end use of the carbon fiber prepreg.Bicycle components, specifically bike frames are made usingvarious grades of carbon fiber characterized mainly by theirtensile strength and tensile modulus. Tensile strength is theamount of force needed to cause the fibers to break, while thetensile modulus is a measure of the carbon fibers stiffness.The cost of the materials generally go up with the increase intensile strength, or increase in tensile modulus. The tow (weave)also determines the cost of material with larger tow prepreg (eg.12k) costing less due to the lower cost of manufacture.Manufacturing processCarbon fiber composite frames can be manufactured using thefollowing two methods:• Resin transfer (RTM), or fillament-winding method -used in lugged construction where pre-formed carbon tubesare bonded to internal, or external lugs (see: lugged frameconstruction) and are held in place with glue. Commonly thelug material is now also a carbon fiber composite.• Closed mold using bag, foam core, sacrificial core orpolymer mandrel molding - used to make structural elementsfor tube-to-tube (bonded tube) frames, and to make monocoqueframes.Lugged construction using RTM or fillament-winding carbontubes. This was the original method of carbon frame manufactureand is a direct descendant of the lugged frame construction usedfor steel frames. Frames made using the lugged process can offerhigh performance, but the main reasons for the use of thismethod to make contemporary frames are: ease of customgeometry changes and lower labor and equipment costs. Thisallows some high quality modern carbon frame makers to have asuccessful frame making business outside of Asia.The tubes themselves are commonly made via an RTM, orfilament winding process where carbon tubes are woven around asolid mandrel (usually steel, or alloy) using carbon fiber yarnwound on a spool. With RTM process, resin is applied separately,ie. not by using a pre-preg, while filament-wound tubes use resinimpregnated carbon filaments. The RTM and filament-windingcarbon tube manufacturing process can be largely automated,allowing economical production in countries with higher labourcosts.…. a solid mandrel (usually steel, or alloy) using carbon fiber yarnwound on a spool. The RTM and filament-winding carbontube manufacturing process can be largely automated, allowingeconomical production.Lugged frame construction has no performance benefits over bondedtube, or monocoque frame construction. The tubes are invariably madeof woven carbon fiber with the structural deficiencies described earlier,and they remain free elements held in place by a combined mechanicalforce of glue and lug. Closed mold using bag, foam core, sacrificialcore, or polymer mandrel moldinga) Tube-to-tube, or bonded tube constructionThis method can be likened to welding the tubes together. Pre-moldedtubes and shapes are bonded to one another using over-wrapping withcarbon fiber and resin. The joints are held in place using special minimolds (similar to jigs) and the frame is then either baked in the oven, orin some cases the mini molds have their own heating elements. Thejoints are thus thermoset and achieve excellent strength, comparable tothe rest of the carbon fiber structure. Thermosetting is different togluing in that a true carbon fiber composite is formed.b) Monocoque constructionThe entire frame is laid up in a custom shaped mold. There are no tubesas such, just hollow carbon shapes that handle all the loads. Monocoqueconstruction method is the best method for working with man-madecomposite materials.Therefore all monocoque frames in the market are actually made fromseveral parts. Velocite frames use the monocoque method, so as anexample, the front triangle (head tube, top tube, down tube and seattube) are molded in one piece to which the rear triangle is attached (seatstays, chain stays, dropouts) using the bonded tube method, and thenbaked together to create one continuous shape.There are several methods of making sure that the various layers aretightly packed together. This is generally accomplished by inserting airbladders into the laid up, raw frame, and inflating them once the frameis placed in the mold, prior to baking. This is still how most of thecarbon monocoque frames are made. The disadvantage of the commonair bladder method is that due to the relatively low pressure applied andcomplexities making the frame weaker.Finishing and testingAfter frame and mold have cooled, the frame is removed from themold. The initial hand finishing of the frame removes the releasecompound (prevents the frame from sticking to the mold) and anyexcess resin that flowed to the surface and to the seam where the topand bottom half of the mold meet. After a few more finishing steps, theframes are moved to the paint shop where decals, paint and clear coatare applied.Quality Control – there are 25 final steps prior to releasing the framesfrom the factory for delivery. These include : final weight of eachframe is within specification and that all the mechanical interface pointsare functioning and ready for assembly, for example the BB30 shell,rear derailleur hanger, headset races, etc. With focus on absoluteperformance, all frames are rigorously tested for stiffness to ensure thateach frame meets our specifications, for fit and for safety.Each frame design is tested to comply with CEN/EN standards. There isa battery of custom tests that are not required by the CEN. Theseadditional test serve to add invaluable information that influence framedesign and layup.
  8. 8. 8SMART Holdings USA Spring Issue # 8, June 2013IBM Vermontand Burton Snowboard Large Scale Layoffs– Some Decide to Start A Consulting Practice– by Ken LizotteIf you are just launching a consulting practiceit pays to evaluateyour chosen approaches to practice management to ramp thingsup. There are many methods for insuring consulting successand keeping you profitable while your competition struggles topay the bills. The way you answer four questions in particularcould spell the difference between mediocre business flow andstunning success.Question #1: Define Your Business?Defining your market niche and value proposition ("valueprop") is essential for great consulting success. You must notlook like everybody else, you must find a way to emphasize avalue-added. As an actuarial, to simply proclaim that you offer"accuracy" may not be enough, as that benefit is likely theminimum expected from all our clients.Focusing on the insurance industry, Maria Thomson FSA,MAAA (Thomson Management Solutions) provides guidanceon streamlining and speeding up the underwriting process, anobviously potential competitive advantage for those insurerswho make a commitment to learn how. Other value propsmight be such simple value-addeds as "fast service" or"personal service" or "deep experience with problems inYOUR industry."Choosing the right value prop will affect your company image,making you more attractive than your competitors who merelyoffer "accuracy" or imply no special extra value at all. Myplumber runs an ad in my local paper which states "I want to beyour familys plumber!" That simple commitment held greatappeal for me, declaring that my household would be takencare of whenever a toilet overflowed, not forgotten or toldto "Wait until Monday."The other piece about company image is how you project yourvalue. Are you the usual charge-by-the-hour variety or are you,instead, worth something more? To attain the latter, consider avalue-based system of billing. This may mean a retainerarrangement or perhaps payment by-the-project.The benefit to this could be reaping more profit overall as wellas instilling client loyalty second to none. Of course, thisapproach also demands your clients indeed view your value asdwelling on a higher plane than your run-of-the-millcompetitors. Achieving that of course brings back again to yourselection of value-prop and value-added. Recommendedreading: Million Dollar Consulting by Alan Weiss (McGraw-Hill).Question #2: Have You Organized Your Practice?• Get and update technological tools: Have a powerfuldesktop, laptop, needed software, cell phone, PDA, faxmachine, DSL etc.? Skype, Linked In, Slideshare, Webex• Arrange an office:• See time as an ally: Time management is the real killer butnonetheless a beast that can be contained. Use a system like:Proven Pomodoro Time Management Tool Here.Question #3: Do You Stand Out from the Crowd?Ask others what they think of your Public PerceptionHave a Blog that declares your Subject Matter Expertise –does your Linked In profile have Recommendations, andWork Product Examples of what you do. Do you haveexamples on Youtube or Vimeo.The real key to standing out from the crowd is found in howyou position yourself with your target market.Cold calls are made warm calls when using Linked In. Ifyou don’t have a huge Linked In network buy a premiumsubscription – tie all your web actions together.Marketing System ? Heres a three-step approach:• Relationship Management - Spend 40% of yourrainmaking efforts interacting with real people.• Creative Use of the Internet - Promote your Blog Pieces –use, speaking gigs, services, survey results,provocative ideas over the Internet.- Publish your Blog using Wordpress- Link your Blog to Linked In- Create Slide Share Presentations Linked to yourLinked IN profile- Link all these to a Twitter FeedQuestion #4: Hows Your Attitude?Its been said many times that the Chinese have the sameword/symbol for both "crisis" and "opportunity." With thisin mind, such crises as losing clients, slow economic times,and industry dilemmas should be viewed as opportunities-in-the-making.These of actions are mandatory to keep your perspective inbalance, your mind sharp and your energy high.Avoid Burnout by taking care of yourself. Burnout leads tofailure, which leads to more burnout, a terrifying loop. Findwhat feeds you and do it.Ken Lizotte CMC, Chief Imaginative Officer (CIO), emerson consultinggroup inc. (Concord, Massachusetts), transforms companies andconsultants into "thought leaders" by helping them get their articles andbooks published, arrange speaking engagements, conduct originalresearch projects, and gain media exposure. President of the Institutefor Management Consultants/New England chapter, Ken is author of fourbooks and a popular keynote speaker at professional conferences. Contacthim at 978-371-0442 or
  9. 9. 9SMART Holdings USA Spring Issue # 8, June 2013Dr. Michael Olson, “The Five Must-Haves forSuccessful Organizational Training ProgramsSuccessful Business Training must have 5 characteristics:1. Tied to measurable business performance objectives which canbe applied in an effective operational environment. If the investmentdoesnt add to the bottom line by improving quality, reducing cost, orshortening delivery, why do it at all?2. Supported by line management because it will help themachieve objectives they been assigned. Nothing worse than having agrand executive plan with exquisite detail but not give managers timeto implement, or worse, drop new practices on them out of the blue.In football, that would be nothing short of a simultaneous high/lowblind side with head shot.3. Trainees must be assigned to tasks which immediately applyknowledge. Never forget that skills are NOT "taught;" skill ONLYcomes by practice, on the job or in very realistic job-relevantsimulations. If you dont think so, test your theory by picking up abook, or eLearning videos, about swimming and then go swim theEnglish channel. New knowledge and blooming skills will die on thevine quickly without immediate application and an opportunity forthe trainee to see improvement for themselves. peers, must be skilledat constructive, supportive feedback .4. Have designated coaches, if not managers, who areskilled in the tasks being trained who can and want toconduct the training and assist learners gain skills duringperformance. Coaches, or the peers, must be skilled atconstructive, supportive feedback. Your most skilledexpert may be your worst instructor, particularly ifthey dont want to be a trainer, dont have theirperformance metrics lightened, or worst of all, if they arejust about to be forced out of their job and are actuallytraining their replacements. Choose those who can andwant to conduct the training and assist learners gain skillsduring performance.5. Expect, plan and allow for mistakes; if employeesare not making mistakes during the learning process, theyarent learning. If the cost of mistakes is too high, thensupervisors, coaches & peers must be on hand to dotriage with tasks ... but not take it out on the trainee, thecoach, or the manager who is supporting the trainingactivityIf these conditions can not be implemented or madeoperational, there is virtually no point in developing orinvesting in training at all because the effort and expensewill simply be wasted,Dr. MikeDr.Mike@SMARTvt.orgDirector of CurriculumDevelopment