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www.insightssuccess.com
May 2019
Brian
Shore
2019
Crea iv
Vol-5 | Issue-4
Serving the Needs of Others
Innovating in
Business
t e Leaders
Top
Brian Shore
CEO
ZOOM International
oncluding from every bit of experience I have on leadership, I can say that a leader has no limits. Also, there is no
Ctextbook definition that is comprehensive enough to suffice the characteristics of a modern day leader. Apparently, he
or she has to be whatever the company requires at the eleventh hour, in which case creativity becomes one of the
most important traits. Creative leadership allows a company to have an innovative approach while solving problems. A
creative leader inspires his/her team to bring new ideas on the table and promotes innovative ideas on the floor.
Stretching mind to come up with some new and exciting ways to do something always make us reach our full potential. This
is how creativity defines its significance and acts accordingly in business world too. Creativity enables organization to find
new ways to achieve its goal and promote healthy and steady growth numbers. It makes enterprises adopt the methods that
are not applicable with conventional methods.
Previously, creativity was said to be associated with people in artistic professions such as writers, painters or musicians, but
this is not anymore the case. Creativity is much needed into the business world, as leaders at coveted positions had to rely on
creative thinking to distinguish their organizations from competitors.
As we are surging towards the unpredictable future, we can see that the business world is continuously changing and the
resources are becoming scarcer. Thus, this contemporary corporate world needs creative change-makers, who can come up
with the ideas and bring them into life with the available resources. Creativity is something that fuels innovative ideas, and
opens door to new opportunities. With creative and stable leadership, organizations can ride those changing waves with the
right strategy and make this world a better place.
The Essence of Creativity in
the Business World
With the intent of bringing some creative minds, who are transforming the status quo of various sectors, into limelight,
Insights Success brings to you, “Top Creative Leaders Innovating in Business 2019”. These leaders are riding the
changing waves of businesses with their novel approaches and bringing out the substantial change into their respective
sectors.
An avid entrepreneur, Brian Shore, features on the cover of this issue. Brian is creating great customer experiences and
serving the needs of others by serving as the CEO at ZOOM International. Over the past 8 years, Brian has led ZOOM to a
30%+ compound annual growth rate in sales and a world-class 87% net promoter score for customer satisfaction. He believes
leadership should focus on a “be of service to others” mindset and back it with an authentic culture focused on the customer,
partner, and employee experience.
Delve in to more such inspiring stories and lessons from many such significant entrepreneurs in this issue and reap the fruits
of motivation. Also, make sure to scroll through the articles written by our in-house editorial team and CXO standpoints of
some of the leading industry experts to have a brief taste of the sector.
Happy reading!
“ “More than a responsibility, creativity
should be developed as a habit.
Shubham Khampariya
Tech-Know Insights
What a Tech CEO can
Teach Your Business
about Digital
Expert’s Outlook
The Fuss about AI
Brian Shore
Serving the Needs
of Others
COVER STORY 08
CONTENTS
16
36
From Editor’s Desk
The Journey to
Self-Discovery
Jared Bauer
Changing the
Medtech Community
for Good
Johannes Fruehauf
Redening
Entrepreneurship
Ken Marlin
Persistence of an
Unreasonable Leader
Ofer Lidsky
A Veteran Leader
in the Field of
Digital Health
Timothy Loginov
From a Freelance
Technical Writer to a
Successful
Tech Entrepreneur
ARTICLES
Entrepreneur
Echo System
Sustaining Entrepreneurial
Sprit in the Modern Era
34 38
30
2420
4026
sales@insightssuccess.com
May, 2019
Editor-in-Chief
Senior Sales Manager Business Development Manager
Marketing Manager
Technical Head
Technical Specialist Digital Marketing Manager
Research Analyst
Database Management Technology Consultant
Pooja M. Bansal
Managing Editor
Anish Miller
Executive Editor
Shubham Khampariya
Assistant Editors
Jenny Fernandes
Bhushan Kadam
Visualizer
David King
Art & Design Director
Amol Kamble
Associate Designer
Kushagra Gupta
Kshitij S Peter Collins
John Matthew
Sales Executives
David, Kevin, Mark, Avadhut
Business Development Executives
Steve, Joe, Alan, AnupJacob Smile
Aditya Marry D'Souza
SME-SMO Executive
Prashant Chevale Patrick James
Circulation Manager
Robert Brown Stella Andrew David Stokes
Priyanka Rajage
Co-designer
Copyright © 2019 Insights Success, All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any
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Brian ShoreServing the Needs of Others
ZOOM’s purpose is to
create great customer
experiences and serve
the needs of others.
Cover Story
Brian Shore
CEO
ZOOM International
In an interview with Insights Success, Brian Shore,
CEO, ZOOM International, shares valuable insights
from the experiences he gained during his
entrepreneurial journey. Moreover, he broadly discusses the
services offered by his company.
Below are the highlights of the interview conducted
between Brian and Insights Success:
How do you diversify your organization’s offerings to
appeal to the target audience?
First and foremost, we guide our customers by helping them
answer one simple question, “How did each specific
interaction make the customer feel?” This sounds rather
simplistic on the surface, but it comes as no surprise that
many great and well admired software companies focus
entirely too much on their tech stack or usage metrics and
not nearly enough time on the impact to people.
At ZOOM, we start with capturing the Emotion of the
Customer (EOC) by leveraging one of the most
comprehensive survey platforms in the industry (Email,
SMS, IVR, Manual & Outbound Dial) and work backwards
towards connected points of coaching. Our goal is to
provide actionable insights using technology and repeatable
workflow that highlight the most successful customer
interactions from the customers’ perspective rather than the
agent or supervisors. We know from our own experience
that doing so will turn unconscious organizational
competence distinctly conscious allowing those successful
interactions to be used as a benchmark, and training tool.
Pinpointing the least successful interactions from the
customers’ perspective also provides actionable information
such as identifying gaps in personal coaching or process
pitfalls which can be rectified. We refer to this as 360-
degree insights where the agent, supervisor and customer
all weigh in creating a full picture of each encounter. Most
organizations can achieve only a portion of this type of
actionable intelligence using multiple products from
multiple companies or manually intensive processes.
Describe some of the vital attributes that every
entrepreneur should possess.
When asked, “What is the secret to success?” My response
is typically, “When I find it, I will certainly let you know!”
In all seriousness, entrepreneurs need to possess a variety of
traits to sustain and persevere through the many setbacks,
disappointments, self-doubt and moments of personal
failure. First, one must understand why they want to build
something and clearly understand their own core values. If
you understand why you are doing something and how it
ties into what you care about the most (values) then you are
well equipped to accomplish almost anything.
The second most important trait is perseverance coupled
with a combination of ignorance, stubbornness and near
delusion. Building something is tough, not only physically
tough… mentally tough. Failure is a relative term and
usually associated with the moments when we quit on
ourselves. I’m perfectly ok with making mistakes but I’ve
never been ok with giving up or not finishing what I started.
At the risk of sounding trite, the third point is the most
important and applies to anyone in any field professionally
or personally. You can have almost anything you wish for in
life but you have to help the person in front of you get what
they want first. There are no tricks or shortcuts and people
can sense authenticity very quickly so try to help others
achieve their goals, ambitions and desires.
What were the past experiences, achievements or lessons
that have shaped your journey?
There are so many lessons learned over the years that I am
struggling to choose the most pertinent ones. The first
experiences that come to mind involve my amazing parents
and their advice and personal challenges. My parents used
to refer to their divorce as their greatest failure but if you
look at their lives today, they wouldn’t be with their current
partners or be the people they are today without it. If you
are an entrepreneur, married, a parent or a friend,
sometimes we have to let the situation play out because
very few situations are as bad as they seem in the moment.
The Dutch have a great saying, “The soup is never eaten
as hot as it is served.” Sometimes when we think we have
failed, we are really just walking down our path and
learning from it along the way. I’ve had so many amazing
mentors, teachers, friends and people who chose to see the
best in me and I wouldn’t do what I do without them. No
one does anything alone so surround yourself with like-
minded people that assume positive intent and want the best
for you.
Where do you see yourself in the near future and what
are your future goals?
The future is difficult to predict but I am incredibly excited
about the opportunities to become a better steward to our
150+ employee families within ZOOM, our 350+ Partners
world-wide and our 2,000+ Customers in 94 Countries that
permit me to do what I love. It’s easy to serve their needs
because they provide so many amazing opportunities for all
of our families. While ZOOM has my 100% focus and
Inner joy is directly
proportional to my
contribution to
others.
attention, my personal hobby is angel investing and helping
aspiring business leaders flourish. On a purely personal
level, becoming a more mindful Husband and Father tops
the list. My Children will ultimately provide the litmus test
for my life after I am gone.
What is your advice for budding and emerging
entrepreneurs?
Focus on why you want to be an entrepreneur and your core
values – not the outcome. Choose people you trust and love
to go on the journey with you as you will need them more
than you know along the way. Keep your personal expenses
low so you can prioritize the needs of the company. Find
the best partner in life possible that has your back. My wife,
Rachel, has helped me through my toughest moments and
I’m eternally grateful.
You can have almost
anything you wish for in
life but you have to help
the person in front of you
get what they want rst.
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cxo1
What a Tech CEO can
Teach Your Business
about Digital
Pam Bateson is an expert coach and
mentor in business, training others to
Masters level qualications and
supervising coaches. She has worked
within the healthcare, retail, hotels,
construction, media, agencies, education
and public sector. She specialises in
Coaching, Mentoring, Employee
Engagement, Change Management,
Learning and Development and
Organisational Design. She has worked
with all levels in organisations from
graduates to the CEO. She has
designed change programmes that
connect projects, outcomes, training and
coaching. The performance outcomes
have been outstanding. She is CEO
and Co-founder at Thrive Partners.
About the Author
16 | May 2019
am Bateson set up Thrive
PPartners, an on-demand
coaching company, three
years ago. In this article, she
shares her point of view on how
important humans are in a more
digital world, what she’s learned
as a tech CEO, and what this
means when you’re looking to
use tech in a way that’s both
disruptive and works for
customers.
Tech-Know Insights
17|May 2019
In October 2015, I gave up a successful
career as a management consultant and
coach to set up Thrive Partners. Lots of
people thought I was crazy. I was
approaching 50, with two children still
at home. But for the decade running up
to that decision, I’d been thinking
about a better way to deliver coaching
– supported by digital, to share more
widely the coaching tools I’d used to
help clients for many years.
This was the business I set out to build
three years ago. Today, we’re working
with 25 clients on five continents –
delivering our own brand of on-
demand coaching, backed with insights
for the whole business. The learning
curve has been steep – particularly for
someone who, by their own
confession, didn’t have a lot of
experience in learning technology. So
here, I wanted to share some of the
things we’ve learned – and what it
might mean for your business.
Dream big
I didn’t really set out to build a
business that would be considered
disruptive, but my background as a
lean engineer and coach did mean that
we ripped up the rulebook when it
came to the coaching industry. We
scrapped the idea that you needed to
meet face to face, and that sessions had
to last an hour, or even two hours. And
we made it a lot easier for people to
access a coach to answer the questions
they had there and then – increasing
access so people could chat to an
expert within an hour.
Working with my co-founder, we then
rebuilt the industry by asking the
biggest questions we could imaging.
What if we could make coaching
available to whole organisations? What
if we could get listening as valued as
speaking? And what if we could help
organisations learn as quickly as
individuals?
I found these questions irresistible: I
wanted to do for coaching what Uber
had done for getting a taxi, Netflix had
done for home entertainment, and
Tinder had done for dating. It’s these
The whole-system insights we
produced has helped to make sales
processes smoother, improved
communications and created more
opportunities for people to learn.
Keep it human
With suicide being the biggest killer of
men under 45, loneliness sweeping
through developed economies in
epidemic proportions and a third of all
young people suffering from anxiety, I
strongly believe that we have a duty to
keep talking to each other as a society.
We believe that keeping the art of
conversation alive in this digital age is
essential; only humans can master
creativity, empathy, humour and
imagination in a way that’s compelling.
Information is everywhere, so we’re
using technology differently – to offer
real human experiences at scale, at any
time of the day, whenever our clients
need a conversation, for everything
you can’t Google.
And what of the future? Curiously,
even the structures of artificial
intelligence and machine learning look
set to mimic human patterns. It’s still
early days, but leaders in this space
talk of ‘deep learning’ with AI – by
layering up different tools that connect
in the same way as our brain’s neural
networks.
And so, the next three years?
My recent experiences have led us to
ask even bigger questions than we did
to begin with – which I suspect will
lead to our next irresistible set of
adventures! What if we could
transform learning management
systems into learning ecosystems?
What if any community of learners
could connect with any community of
teachers? And what if a better
understanding of outcomes from
learning could help both individuals,
organisations and society to thrive?
I for one believe there are exciting
times ahead.
big dreams that have galvanised our
success in the last few years – and
which has set us in the right direction
for the future.
Build for modern users
Despite big dreams, we’ve also made
our fair share of mistakes! A lot of
them mistakes happened when we took
our attention away from our end
customers. It sounds obvious to see it
there on the page. But it can be easy to
lose sight of the customers that matter
most, especially when, as a tech CEO,
sometime we get preoccupied with a
shiny piece of new technology.
So, what to consider first when it
comes to users? The main thing to bear
in mind is that they expect experiences
that are easy and fast to access – a shift
brought about by what we call the
‘Amazon Prime Mindset.’ In this era,
clunky user experiences reduce the
chances of uptake of services. In short,
if your technology can’t match or
exceed the quality of digital experience
people get in their everyday lives, then
you’ll need to go back to the drawing
board.
Create wins for the many
So, if users come first – who else can
we harness the power of technology
for?
Our answer? Everyone else in the
system.
Early on in the development of our
MyThrive platform, we realised that
delivering digitally would enable us to
do more than just scale and facilitate
coaching in global organisations; it
would also mean we could spot trends
and patterns within communities of
users, in organisations or society at
large. Just as carefully listening has a
powerful and transformative role in
one-to-one coaching conversations,
carefully listening to and analysing
anonymised version of the
conversations we host has a powerful
and transformative role within whole
organisations.
18 | May 2019
Jared
Bauer
Changing the Medtech
Community for Good
Give me the bad news
rst. If we don’t know
what we’re up against,
then we can’t solve the
problem. We will nd
time to celebrate the
good news as a team
in due time.
“
“Jared Bauer
Founder & CEO, ApolloDx
Founder & CEO, CibusDx
Interim CEO & Director, ProLung
Co-founder, The Oliver Fund
20 | May 2019
While growing up in Twin Falls, Idaho with his eleven
siblings, Jared Bauer learned firsthand the value of
an honest, hard day’s work. Mr. Bauer learned to
embrace both good times and difficult ones from his parents. In
this way, he has long been drawn to the challenge of “turn-
arounds.” Mr. Bauer’s impressive track-record shows he has a
real knack for it, which he humbly attributes to correctly
identifying and solving the most pressing issues to get a
company back on the track to profitability.
With his undergraduate degree in Economics and a MBA, Mr.
Bauer has specialized in medtech turn-arounds for the past
eight years. With a cool, calm and collected approach to
identifying the most crucial elements to resolve, he has
successfully navigated public and private medtech companies
through complicated issues with founders, shareholders, former
management and legal issues. His commitment to transparency
is the key to earning and maintaining support from stakeholders
and team members alike. Furthermore, Mr. Bauer operates with
a “bad news first” mentality to ensure no critical issues
unintentionally go by the wayside. All of this goes hand-in-
hand to prioritize those issues that need to be resolved first.
A Passionate Leader Improving Lives of Others
Jared Bauer is personally and professionally passionate about
helping and improving lives of others through his service in the
medtech industry. He has dedicated nearly a decade to the
global medtech industry.
In 2012, Mr. Bauer founded Exuro Medical and acquired
BurnFree products. At that point, BurnFree was riddled with
legal issues and had not shipped any product for approximately
six months. By primarily focusing on regulatory processes and
re-working quality systems, Mr. Bauer piloted Exuro Medical
into the second largest burn treatment company globally with
distribution in 58 countries. He then successfully exited Exuro
Medical.
In early 2017, Mr. Bauer identified an opportunity to acquire a
technology mired in legal issues and acrimony that he used as
the basis for founding ApolloDx, an in vitro mobile point-of-
care diagnostic medtech company, and CibusDx, a food safety
company. As the Chief Executive Officer for both companies,
he has heavily invested in refining the rescued technology. As a
result of his prescient vision of the best path forward,
ApolloDx and CibusDx are both now poised for commercial
success.
In mid-2018, Mr. Bauer was appointed as Interim Chief
Executive Officer and Director at ProLung, which is focused
on helping accelerate physicians’ diagnosis of lung cancer.
With his keen eye for identifying solvable impediments to
success, Mr. Bauer re-organized the company and re-adjusted
its corporate strategy. He has been rewarded with strong
shareholder support as the company moves forward.
Mr. Bauer was also invited to serve on a committee
selected by the Governor of Utah to help the state further
expand and improve its burgeoning medtech community.
Salt Lake City specifically and Utah in general have been
fortunate to cultivate a rich, diverse medtech industry
over the years that includes everything in-between some
of the largest medtech corporations to medtech start-up’s.
The Utah Governor’s Office of Economic Development
(GOED) recently published a report detailing the
incredible contribution medtech community makes to the
State of Utah. In fact, Utah trails only Massachusetts and
California for the size and health of its molecular
diagnostic and precision medicine community.
Working Endlessly to Improve Children’s Life
throughout the World
Mr. Bauer and his wife of fourteen years, Sarah Bauer,
are incredibly proud of their ongoing work as trustees of
The Oliver Fund, which is a non-profit organization.
They co-founded the organization with the aim to
improve children’s standard of living and sense of
community in underdeveloped countries. The
organization was started in honor of Mr. and Mrs.
Bauer’s deceased son Oliver who was born with a heart
defect and died on Valentine’s Day 2009 just one day shy
of eight months old. The influence that Oliver’s life had
on his family and those who knew him was profound.
Now the Oliver Fund tries to recreate the light that
Oliver brought with him by working to improve the lives
of children throughout the world. The Oliver Fund
believes all children deserve to be served with the
playtime they need. Solutions to these issues include
giving children healthy diversions that allow them to
learn and grow through physical and imaginative play.
Simple sporting equipment, such as indestructible soccer
balls, durable jump ropes and dolls allow children to
learn team building, community involvement, and create
a sense of ownership. The Oliver Fund’s fundraising
efforts are focused on purchasing these items to send to
regions around the world where children have little to no
access to these amenities and education.
When the Plan is to make a Positive Difference for
Patients
As a long-time contributor to the medtech industry, Mr.
Bauer is passionate about making a positive difference
for patients – not just in the USA, but around the world.
He envisions that he will always want to continue
helping shareholders and investors who have
encountered significant obstacles in bringing their
innovations to the global healthcare market. While he is
the first to admit that he does not have all the answers, he
firmly believes that with the right team he likes his
chances of breaking down the issues from most to least
important to solve in order to succeed.
21|May 2019
n an interview with Insights Success, Johannes Fruehauf,
IFounder and President of LabCentral and BioLabs, speaks
about his experiences that shaped his entrepreneurial journey
into a successful one. Also, he broadly discusses the companies’ core
competencies and the services they offer.
Below are the highlights of the interview conducted between
Johannes and Insights Success:
How do you diversify your organizations’ offerings to appeal to
the target audience?
In each of our facilities, we engage key partners to realize our vision.
Those key partners include state and local governmental agencies
with an interest in economic development, universities, research
hospitals, big pharmacy, instrument manufacturers, and others who
want to interface with our innovators. Each brings its own viewpoint
that help tailor how these projects develop.
We understand the needs of our resident startups; as entrepreneurs
and founders ourselves, we’ve walked in their shoes. Our model is
not a real estate transaction, but an ecosystem created for
entrepreneurs to enrich their business. Multidimensional in our
approach, we connect our different stakeholders who contribute and
benefit, bringing a 360° perspective. We’re in a continuous dialogue
with residents, sponsors, and the larger community, so that’s how we
fine-tune our model, adding products and services to meet current
and future needs.
“
“
24 | May 2019
There’s always going to be a
thousand reasons why the
time isn’t ideal; steel your
courage and jump in.
Johannes Fruehauf, MD, PhD,
Founder, President
LabCentral & BioLabs
Fruehauf
Johannes
Redening Entrepreneurship
For example, we developed our LabCentral 610
“graduation-labs” site for companies that outgrew our
entry-level offerings. It wasn’t something we’d ever even
thought of in the beginning. But residents requested to
remain within our supportive environment as they grow,
meet their milestones and start their next stage of
development.
Describe some of the vital attributes that every
entrepreneur should possess.
Fearless, relentlessly optimistic and motivated are the key
aspects. At times, it may even be helpful to be so focused
to be blind to some realities. It’s their energetic
determination and an unyielding drive to have an impact
that allows fledgling startups to succeed against entrenched
big business. Of course, in our field of science,
entrepreneurs must be grounded in both the science and
their business segment.
What were the past experiences, achievements or
lessons that have shaped your journey?
I was quite unprepared when we started Cequent. In
retrospect, if I hadn’t had to learn everything the hard way
building a lab, a team, and a company from the ground up,
maybe my co-founder and I wouldn’t have been so driven
to invent a new, more-efficient path for creating startups.
I grew up and received my medical training in Europe. As
an immigrant, I had never really been exposed to the idea
of venture-funded companies until I came to Boston. Here,
I saw an industry that is turning academic ideas into real-
world applications. It’s probably not surprising that we see
a large number of startups being founded by immigrants.
After all, immigrants embody those vital attributes in their
daily lives when they risk packing up and leaving their
own country to come here.
How do you strategize your game plans to tackle
competition in the market?
We are going places that we never dreamed of when we
started the co-working movement for biotech startups. We
don’t tackle the competition. We lead; others follow. And
we’re proud of that! Since you used the word “tackle,” I’ll
use an American football analogy. If your running back
breaks through the defensive line, he runs toward the end
zone as fast as he can. He realizes that he’s being chased,
but he doesn’t slow down to engage. We’re like that
RB—we keep on full speed, with our focus on the end
zone.
What were the primal challenges and roadblocks you
faced during the initial phase of your career as an
entrepreneur?
In the initial days, like every business, we faced
challenges. Some only become visible in hindsight. When
starting Cequent, my lack of experience in building and
running business operations was probably my biggest. But I
had the invaluable opportunity to work alongside an
experienced mentor, Peter Parker. That’s an important
learning: if you know where you want to go but you’re
uncertain about the path. Look for mentors who have
demonstrated successes to help you.
Another obstacle we face frequently is the skepticism of the
surrounding world when we present a new concept. Be
driven and assertive when you know your idea is right. You
just have to work hard to prove it to others.
Where do you see yourself in the near future and what
are your future goals?
In the near term, we plan to continue to expand our network
of lab facilities in the US and internationally as well as our
fund activities. We believe that we can provide a valuable
overall platform for innovation in our industry and aim to
reach even more teams of founders.
What is your advice for budding and emerging
entrepreneurs?
Get on the calendar of as many experienced founders and
investors as possible to ask these role models for advice;
don’t be shy but do be respectful of their time. On
entrepreneurship: just do it; don’t wait, there’s always going
to be a thousand reasons why the time isn’t ideal, steel your
courage and jump in.
About the Leader
In 2006, Johannes co-founded a biotech startup, Cequent
Pharmaceuticals, and since then founded and co-founded
several others. Although glass-filled co-working labs for life
sciences seem ubiquitous today, in 2013, when his co-
founder, Peter Parker, and he opened LabCentral in Kendall
Square, many shook their heads. No researcher would dare
to put their precious IP in such close proximity to others.
Johannes knew they had activated a paradigm shift for
high-achieving founders and their companies through their
co-working environments built at BioLabs and LabCentral.
It took just a few years to prove the nay-sayers wrong. In
fact, they believe they changed the industry, or to be
precise, gave birth to a new one. They dramatically
increased the capital efficiency of starting biotechs through
their innovation communities by a factor of up to 10 to even
20 and companies enjoyed a greatly increased likelihood of
success.
25|May 2019
Entrepreneurs set up their new ventures with a new
and unique vision, goal, and its future. These
entrepreneurs face many challenges over the course
of their journey. However, financial challenge is the most
painful ones they have to face. Making a list of all the
financial challenges can aid a business and a new starting
player in attaining sustainability and economic stability.
The Small Business Association estimates that around
forty-four percent of startups and small business survive at
least for four years only. Others cite that poor capital
management, overspending, and the lack of reserve funds
are some of the common reasons behind a business closure.
All these three terms come under the finances of a company.
One way to address the financial problems is to use the 4R
formula i.e. Review, Revamp, Research, and Rewrite the
company’s business plans. By using this formula, they can
take action against the things that are not working out.
Working Capital Issue
Startups have to wait for their big clients to pay up so that
they can manage their expenses. Entrepreneurs must save at
least the expenses of six months as its working capital,
which can help them in engaging new customers and create
a productive business pipeline. Players can also avoid
inadequate working capital by cutting-costs up to twenty
percent and set the cut out as the working capital. For the
startups that are yet to make profits, should make sure that
they are adequately financed before taking any harsh
decision, which can affect their survival in the industry.
Non-consistent Cash Flow Issue
Most of the project-based business relies on their cash flow,
which further relies on the flow of the project and the
services rendered. It is therefore important for the company
to have a good business team ready to connect new and
reliable clients and projects. For the company that does not
rely on the cash flow, must construct a flow of consistent
cash flow at the proper time. If the client is unavailable to
pay on-time, the businesses should think newer methods of
client engagement. They should be patient and make
decisions that would help them while dealing with the
clients in the future.
Another way of improving the cash flow is to get a down
payment for the product and the services provided. This
26 | May 2019
Self-Discovery
to
The Journey
From Editor’s Desk
27|May 2019
down payment will aid the companies in covering the
expenses associated with the project sales and profit
margins. Firms can also set a day in the week to go through
the accounts, payables, and checks.
Bookkeeping Issue
Corporations can hire organized bookkeepers, which can
save a lot of time. If they cannot find one, they can give this
responsibility to one of its team member. The firm can
improve by distinguishing the discretion and non-discretion
spending. These include rent, office overhead, inventory
purchases, and wages. The companies can even save further
by polishing their overall marketing plans. Identifying and
creating a larger clientele that can develop marketing
strategies can help in promoting the service and products.
Firms must set goals and expectations for marketing
initiatives and develop the tools to improve the revenue
outcomes.
Wrong Predictions and Revenue Issue
Businesses on a day-to-day basis have to predict the
company’s revenues. This is even truer for the businesses
that are dynamic in nature. Most of the predictions can be
measured on a month-to-month basis. Although a lot of
factors that are dependent upon the revenue prediction, but
mostly it rely on the relevancy of the business. By
foreseeing accurately, the firms can generate good revenue
that is crucial for the cash flow statements. By paying
attention to the seasoned fluctuations and affected timelines,
they can predict the revenues accurately.
Hiring Issue
Hiring a good staff is not an easy task. A decision like over-
hiring can create additional costs for the company in
contracts and long-term employee liabilities. The employer
is responsible for its employees and they have to provide
them with the employee benefits that increase the costs. The
key solution lies in hiring the term-based employees,
freelancers, and independent contractors as they will
provide services only for the time worked and employer do
not have to add payroll costs in paying them. These
independent contractors are paid only for their time spent
on the work. Depending upon the job, firms can easily find
out that whether these are perfect for the job or not. In
return, these can absorb the work-related wages and can add
the benefit of costs.
In eliminating the conundrums, the mind-power and
descision-making of the entrepreneurs is important. They
can seek loans and grants which are specifically tailored
towards boosting the company's finances. Even some of the
vendors allow the company to offer their assistance and can
refine the business debts. The players should not haste in
making a decision. They should be thoughtful and
intellectual for deciding the expenses. It is important for
them to think strategically. They should be aware of their
decisions and should seek guidance in decision-making and
in expenses.
28 | May 2019
Profile-3Ken Marlin
Ken Marlin
In an interview with Insights Success, Ken Marlin, Founder and
Managing Partner of Marlin & Associates Holding LLC,
shares valuable insights from the experiences he gained on his
entrepreneurial journey. Moreover, he broadly discusses on some of
the attributes one should possess in order to become a successful
entrepreneur.
Below are the highlights of the interview conducted between Ken and
Insights Success:
What past experiences, achievements or lessons have shaped your
journey?
I suppose it all has to begin with my time in the Marine Corps. In
1970, when the Vietnam War was still hot, I quit college to enlist in
the United States Marine Corps. I spent 10+ years on active duty and
that turned out to be a defining time in my life. I was promoted and
then sent to officer candidate school where I was commissioned and
st
sent to the 1 Marine Division as a young platoon commander. For
the next decade, I had a series of great experiences (and a few not so
great ones) in the US and in Asia (where I did two tours) as an
Infantry Company commander, a battalion staff officer and as a
st
member of the staff of the Commanding General of the 1 Marine
division. As I wrote in my book, that Marine Corps experience taught
me a series of valuable lessons on the best ways to lead and
motivate men and women and build organizations that will
persevere and succeed under complex challenging circumstances
that are often chaotic. These are lessons that have served me
well leading civilian firms.
How do you diversify your organization’s offerings to
appeal to the target audience?
We don’t diversify much. The Marine Corps taught me the
benefits of using people with deep domain expertise in
clearly defined areas - and that lesson has been
reinforced over the years. I’m not a believer in
“generalists” in any professional service - be it
medicine, law, advertising, or investment banking.
We take the opposite tack. We are very focused
30 | May 2019
Persistence of an Unreasonable Leader
Ken Marlin
Founder & Managing Partner
Marlin & Associates Holding LLC
Do the right
things, for the
right reasons,
every time,
no excuses.
along two dimensions: the kinds of firms we work with -
and what we do for them. We provide trusted strategic and
financial advise the top decision makers at tech firms that
provide financial software, information, data and analytics
and those who would buy or invest in such firms. We help
them figure out the best way to achieve their strategic goals
with a further focus on efficient effective execution -
whether they want to be a buyer, a seller or are looking to
raise or invest capital.
Describe some of the vital attributes that every
entrepreneur should possess.
I meet a lot of people who say that they want to be – or call
themselves - entrepreneurs when they really mean that they
would like to reap potential entrepreneurial rewards - but
are unwilling to take entrepreneurial risk. Entrepreneurs are
risk takers by their nature. They will bet big on
themselves – to build a business and achieve
their dreams. If they lose, the consequences
are often material. But they don’t think a
lot about losing. The best ones are
also team builders. They know that
they can’t build a company alone.
If they are smart they learn to
listen to the advice and opinions
of others – without being slaves
to the expectations of others.
Ultimately they need to trust their
own judgment. One of my
favorite quotes is by George
Bernard Shaw, who wrote: “The
reasonable man adapts himself to the
world; the unreasonable one persists
in trying to adapt the world to himself.
Therefore all progress depends on the
unreasonable man.” That is the very definition
of an entrepreneur.
What were the challenges and roadblocks you faced
during the initial phase of your career as an
entrepreneur?
Many studies have shown that many businesses that fail
because they run out of capital before they get traction. But
that begs the question of why that happens. There is a
tendency to say they underestimated the time it would take
or the capital required. But it is more complex than that.
Some of them had good ideas but simply weren’t good
enough business people to begin with. They didn’t
understand the numbers – didn’t understand timing and
level of expected costs in detail nor the timing and realistic
amounts of expected future revenue. They didn’t have a
well-defined plan and certainly didn’t know how to pivot
when that plan wasn’t going as expected. We founded this
company in the beginning of 2002. The western world was
in a deep recession that had begun with the tech market
crash of 2000, followed by the terrorist attacks of 2001. I
had expected the recession would be over by 2002 but it
was not. Further I had underestimated how long it would
take for us to build a base of clients. But we did a plan –
and a modest a cushion of cash. We made no profit in 2002,
2003 or 2004. I lost one of my three people. And then I
lost a second. My bank account was nearly dry. But we
kept going. Fortunately, in 2005 it all turned around. It’s
been a good ride ever since.
Where do you see yourself in the near future and what
are your future goals?
The future is more of the same, slow steady building of a
franchise that is international and growing. Careful
cultivation of our brand and superior service to clients –
without taking existential risks.
What is your advice for budding and emerging
entrepreneurs?
Go into entrepreneurship clear eyed. It’s
risky. Success is not guaranteed and it
nearly always takes time. You can’t be
in a rush. Be prepared for lean years
and spend wisely. You need to have a
well thought-out plan - and be
willing to modify it as the market
dictates. The market will tell you
what to do - but only if you listen.
About the Leader
Ken is an investment banker,
entrepreneur and international
strategist. He is also the author of “The
Marine Corps Way to Win on Wall Street:
11 Key Principles from Battlefield to
Boardroom”, a book that has garnered strong
reviews and has been ranked among the top in
governance, finance and leadership.
Over the past 30 years, Ken started and built several tech
companies before embarking 17 years ago on a journey to
create a different sort of investment bank. One that would
meld the investment banking skills he learned on Wall
Street with lessons he learned as a tech entrepreneur and
then leverage these skills with values and principles Ken
learned during the decade that he spent as U.S. Marine
Corps infantry officer.
Today, Ken advises U.S. and international financial
technology, data and analytics firms on the best ways to
buy, sell, grow and thrive. His firm has been the recipient of
multiple awards including boutique investment bank of the
year, multiple times. Institutional Investor, the international
publisher has named Marlin as one of one of the most
influential people in the financial technology industry.
31|May 2019
In an interview with Insights
Success, Ofer Lidsky, CEO and
Co-founder of DNAtix, shares
valuable insights from the experiences
he gained in his entrepreneurial
journey. Moreover, he broadly
discusses on the services offered by the
company.
Below are the highlights of the
interview conducted between Ofer and
Insights Success:
How do you diversify your
organization’s offerings to appeal to
the target audience?
Digital genetics is transforming the
medical world as it is becoming
affordable and accessible to hundreds
of millions of people. Since genetics is
the basis for preventive and
personalized medicine people will
share their genetic data to improve
their health and wellbeing. However,
Genetic data is large and extremely
sensitive. DNATIX has developed
unique blockchain based technology,
providing anonymous and secured
genetic services for B2B as well as
B2C clients. DNAtix compression
algorithm for DNA files enables to
transfer large genetic efficiently and
securely. We see ourselves as leaders in
this field of digital genetics and
blockchain as well as bringing privacy
and control back to the people. DNAtix
is making Genetics more secure and
accessible to all!
Describe some of the vital attributes
that every entrepreneur should
possess.
Integrity
Without Integrity nothing works.
Never lose your integrity; your word is
you in this world so you better keep it.
Being a person who has high integrity
will let you grow to the next level. For
me, it is the most important
characteristic that a person should
poses.
What were the past experiences,
achievements or lessons that have
shaped your journey?
I have been studying science and
computers for all my life. I got my first
computer at the age of 7 in 1980 and
this got things rolling for me. I have
started my entrepreneurship at a very
young age, in fact I owned my first
company when I was about 20 years
old. During the years and through
personal experience I have learned
many important lessons that led to the
wisdom and knowledge I have today.
Each failure and each success have
been my teachers to the next stage.
Finally, like many other smart people
said before: “I never lose, either I win
or I learn”.
How do you strategize your game
plans to tackle competition in the
market?
I believe that competition is good. It
shows that other people validate what
you do and that you are really tackling
a real need in the market. The wisdom
is to find the edge you can provide that
is different than others and concentrate
on it. You cannot be good in
everything, but you can excel in one
thing that will separate you from others
34 | May 2019
and will make you a leader. Though
many claim that marketing is the most
important factor in the success of a
company, I believe that in this new
field of genetics and blockchain it is
crucial to develop and deliver cutting
edge technologies, which is what
DNAtix has been doing.
What were the primal challenges
and roadblocks you faced during the
initial phase of your career as an
entrepreneur?
When you have no experience, you
make a lot of mistakes. This is the
beginning of any road. The trick is not
to make big mistakes and not to repeat
mistakes you already did. That is an
important rule to go by.
Where do you see yourself in the
near future and what are your future
goals?
I’m an entrepreneur and inventor, so I
see myself keeping on creating new
innovative technologies and tackling
large problems to be solved. I see
myself as a leader in the anonymous
genetic space. I believe that data
security is and will be the most
important part of our current and future
life. As they say, “Data is the new
gold” and those who hold the data will
make use of it granted permission by
users or not. I am very concerned with
people’s identity in the digital world
and will make sure that our product
will give a good solution to protect
people’s privacy in a way that was
never done before.
What is your advice for budding and
emerging entrepreneurs?
Don’t quit! It doesn’t matter how many
times you fail, or how many people are
telling you that you cannot do it. What
matters is how many times you get up
and start all over again. What matters
is that you have a dream and as long as
you keep dreaming it and being
persistence in perusing it- you will get
there. Every entrepreneur should
always remember that when you are
ready to quit you are at the closest
point to reaching your goal!
About the Leader
Ofer is an entrepreneur with over 30
years of experience in developing
software. He is an expert in the fields
of Information Security, Virtual
Reality, Brain Computer Interface
(BCI), Neuro feedback, Blockchain
and Genetics. During his career, Ofer
has founded a few leading start-ups
and a nonprofit foundation which
operates in schools in Israel.
If you put your mind into it,
anything is possible!“ “
Ofer A. Lidsky
CEO & Co-founder
DNAtix
35|May 2019
For enterprises there are certain imminent crisis that
demand that they change rapidly and market is not at all as
forgiving as it was a few decades back, someone is
constantly rooting for you to make a mistake.This is leading
enterprise to transform under the integrated environment of
Digital Transformation.
Voice Technology has lately become a stable AI process and
would completely change the way we interact with
technology in the future. Visualization will remain at the
heart of it however with conversational technology, we can
expect a shift to more verbal ads, like radio, but more
personalized and actionable, but still to make a decision on
which product to buy you would want to see it visually.
Also search will become more specific and hyperlocal,
where we will be prompted to give verbal feedbacks, that
would amount to popularity of products and places, how it
happens with mobile applications today.
Siri, Cortana, Alexa have brought conversation technology
to people for some time now. They come bundled up with
smart phones and can be used to do basic searches, to look
up certain things, cue up songs etc. Speech technology has
come much further than that. With its advancement we can
now control our oven, tv and other house hold devices, can
search complex data from cloud or can make phone calls
for ourselves. It can change the way we function in our
daily lives, our time with our family, services we receive
and the jobs we do. It can eliminate learning curve of
devices, repeatable chores, and compiling excel sheets. And
it will not happen eventually, it’s happening now.
Developers will innovate to create more audio centric user
interface, there will be discovery period for them to find out
how to minimally prompt user to give inputs and implement
voice modulated visual commands. We can see speech
approaching a point where it would become so reliable that
we can just use it, like how we do it with other humans, and
not even think about it.
Ihave been a strong advocate of conversational
technology (VoiceTech/NLP) and AI and have pitched
for it in various conferences, Guest Lectures at leading
business institutes and to corporates and I am often being
asked what will happen to our jobs? So this is true that
Artificial intelligence seems like a big untameable monsters
to most, and everyone is little anxious about future.
And that could be true sitting in 2010, but past few years
new old research and young progressive companies and
devision of enterprises are willing to make it their sole
purpose that the infuse digital transformation in their
company and provide assistance to others. But, with the
prevailing reputation that comes at a cost of educating
everyone, really everyone.
They see it as a risk and any have burnt their hands trying
to tame novice early stage AI models. But thats fine, thats
how we grow. I believe that we are intellectual beings with
curious minds, why would we want to do repeatable jobs
which machines can do with greater efficiency. We can
delegate these chores and teach the machines to help us
better and imitate human decision making, innovate at
personal level and “Democratise Artificial Intelligence”.
Democratising AI through platforms for like voice
technology - Natural Language processing so the technical
algorithms can stay with specific user base while use of the
AI algorithms can be made as simple as conversing with
machines. Thats a sure shot way to upskilling resources for
example: Team of Analysts can train dashboards and
Business Intelligence tools to map business KPIs and
generate Compelling Business Stories and Insights in
natural language for everyone in the organisation to benefit
from, and then keep building the training over it through
machine learning. We are personally running trials with
Fortune 50 companies on this, so when I say you need to
start looking at ways to incorporate new technologies I
mean it.
36 | May 2019
I am personally inspired to bring acceptance
for conversational technology globally and I
believe that the real success for this would
not be when big corporations and industries
would be using it but when every small and
medium business and every household would
be using it and help us to get a hold of our
receding grip on reality from visually
attractive and distracting screens on our tv, on
out laptops and our smart phones.
We have seen this kind of a shift with
automated technologies and processes which
has led to reduced laborious work, efficiency
increased and averted accidents. Smart
phones brought technologies closer to the end
user. So, I took side with Artificial
Intelligence and Machine Learning
technologies, that will aid seamlessly while
co-existing in our realities. And impact is not
just on us in our personal capacity but for
businesses too and professionals who spend
endless nights collating data and make pretty
ppts to show to the bosses.
I believe that spreading the word on changing
technological demography is not our
responsibility or our burden. But you know
why I make it my purpose??
Because it is a major step in evolution of
technology and I know we need to harness it,
shape it now, before someone else does it for
you.
Preksha Kaparwan is the Co-founder, CMO, V.UX Designer of Realbox.AI.
The versatile IHM Pusa graduate initially served as the chef but got inclined
towards technology and business analytics and founded RealBox in 2015.
Within three years of its inception, they have raised $300k for Realbox and,
their customers include fortune 50 and big 4 enterprises. As a thought leader
she has been part of TEDTalk talk shows. She was awarded 'The sparks 2018'
by your story for tech services for her exceptional contribution
as a Tech Evangelist.
About the Author
37|May 2019
Preksha Kaparwan
Co-founder & CMO
RealBox Data
Analytics Private Limited
Expert's Outlook
Generally, an entrepreneur should be brave enough
to believe they can make it, resolute enough to bet
on ideas, and smart enough to always hedge their
bets.” The virtue of wisdom, from Timothy Loginov, a co-
founder at AnyChart, has allowed him to achieve new
milestones in his entrepreneurial journey.
Timothy started out as a freelance technical writer for up
and coming software businesses many years ago. “Then I
realized it’s better to create software by yourself rather than
get hourly pay. At least that’s how things looked to me. So,
when most of my university mates were trying to get jobs at
government agencies or as beta testers for Blizzard, I
decided to go into small software ventures with my like-
minded friends,” recalls Timothy Loginov.
In a few years, he together with his friends created a DRM
service, Activatesoft.NET which they subsequently sold.
They also ventured into the restaurant management
software business, as well as database management and
coding assistance tools. Their first achievement was a set of
batch image and (later) video processing tools that allowed
people to cope with a growing need to work with
substantial amounts of digital photos.
Then, Timothy and his business partner got a novel idea of
creating a one-size-fits-all charting tool that the global
interactive data visualization market now knows as
AnyChart.
Initial Struggles Often Lead to Success
Because he went into business before he graduated from
university, Timothy remembers a time when it was all about
being able to believe in himself and his ideas. “But then,
while we all dream to go big in months, it doesn’t happen
exactly that way for the most. You need to — and I had to —
persevere, and at the same time, cope with the fact that
peers might already be getting cushy jobs and stable
salaries while you are struggling,” says Timothy.
There were roadblocks preventing his forward movement
that forced him to learn something new, like proper
planning, for example, in the fields of both finance and
R&D. “Well, I have always believed that enthusiastic work
is maybe the most important thing to get you started and
running. However, to go from proof of concept into
production you actually need to do a lot of grunt work. It
was very painful, but an invaluable lesson,” he explains.
Delivering Interactive Data Visualization
In 2003, when AnyChart was founded, the idea behind the
company was simple but exciting. The company aimed to
allow every web developer and engineer to quickly
visualize their data in any kind of chart. The output would
be easy to embed into any web page or app built with any
stack, looking beautiful regardless of platform or device.
And they did it.
Currently available as a JavaScript charting library,
AnyChart’s solution has been used by thousands of
organizations worldwide to operate interactive data
visualization. The list of its customers includes: Microsoft,
Samsung, Citi, AT&T, Volkswagen, Lockheed Martin,
ExxonMobil, JPMorgan, Bank of China, and many more.
“Nowadays, AnyChart is one of the world leaders in
interactive data visualization tools. Our products have been
recognized by information technology experts worldwide,
included in many lists of the best charting software, and
even have won several awards,” says Timothy proudly. For
example, last year, AnyChart received a prestigious
DEVIES award for the best JavaScript technology during
DeveloperWeek in California.
“
38 | May 2019
From a Freelance Technical
Writer to a Successful
Tech Entrepreneur
Timothy
Loginov
““
Timothy Loginov
Co-founder
AnyChartThis year has been particularly exciting for the company.
AnyChart has recently announced their new Technology
Alliance Partnership with Qlik, adding 3 new product
extensions for Qlik Sense. The partnership enables their
community to be provided with more than 30 new chart
types and features such as tooltips natively in the Qlik
environment.
“Already on the top positions in the data visualization
industry, we are going to keep strengthening our leadership
in the global market of charting solutions and continue
expansion to new territories, verticals, and audiences,”
comments Timothy.
Aiming to Make World Better
As a successful tech entrepreneur, Timothy is realizing his
dream of making the world a better place by leading such
an innovative company.
“When customers tell us, they are happy to use our solution
as it saves them time and effort in creating visualizations
and making faster and better data-driven decisions, that is
precious and inspires me and all of us to work even more.
I’m glad it indeed happens often.” shares Timothy.
Learn from Competitors
Entrepreneurs need to have game plans in place to tackle
competition in the market. Timothy suggests that
entrepreneurs must keep an eye on their competitors and
never underestimate up-and-comers: “Learn from them and
try to understand what they are doing and why,” he
recommends.
Timothy also addresses upcoming entrepreneurs by
asserting, “Since you have to believe in yourself, you cannot
help but consider your way better, which sometimes makes
it hard to admit you’ve come the wrong way. So, it feels
much easier to dismiss what others are doing and keep
saying “we know it better.” But you should know and
remember that at the end of the day, you’ll have to get into
your customer shoes and see why they might choose you
and not the other guy.”
Three Things to Consider
When asked about the advice to enlighten emerging
entrepreneurs, Timothy emphasized three things, “First, if
you are contemplating to go into business, you should know
that working for yourself is not for everybody. But I would
strongly suggest that everyone should at least try to do that.
Second, being an entrepreneur is stressful and you have to
devise your own strategies to cope with this stress. Third,
learn to delegate but never blindly trust your employees.”
39|May 2019
It’s all about the
people you work with.
Businesses operate, survive and progress in a highly
dynamic economy, where change is the rule, not
the exception. The change may be slow, sudden or
almost extensive. One of the important forces of change is
the change in technology. Most of these changes are used to
enhance human capabilities to accomplish meaningful
work. These changes are sometimes thriving on the
entrepreneur.Asuccessful entrepreneur works to visualize
these future changes rather than waiting for it and create a
moredesirableenvironmentintheorganization.
Technological breakthroughs do occur and it takes courage
for an entrepreneur to accept the change and its
implication. Technology breakthroughs like computers,
color television sets, electronic sets, fuel-efficient vehicles,
etc. have encouraged entrepreneurs to manufacture these
products. Thus changes in technology from time to time
pose several alternatives before the entrepreneur.This is an
ongoing process in which the entrepreneur sets goals and
strategies to meet changes in technology. But for strategies
like marketing, human resource, supply chain, financial
and legal strategies, etc. connection with people is
important. Entrepreneurs define the formal relationships
among people and specify both their roles and
responsibilities. Because the end product is an integrated
system of people & technology and to administer these
systems, entrepreneuris required.
Technology is helping us solve problems where human
power alone is not enough. Different types of businesses
require different technologies, but again, it is impossible to
solve all integration needs with a single technology. This
article will help you understand, that technology is only the
part of the original solution and how in different sectors the
entrepreneur'ssurrounding reallymatters.
Ÿ Accounting
Technology allows us to complete tasks faster. It replaces
the tiresome tasks of manually storing, compiling, sorting,
etc. and the ability to use data with a simple digital
solution. For example, Sales ledger in the early days was
time-consuming, expensive and all paper-based process.
Technology helped increase productivity with the
development of spreadsheet software like Microsoft
Excel. Employees today are far better at finding what they
need when they need it. Though only this will not achieve
the outcome. Here, let's take a clear look at how the
entrepreneur's spirit is really helping to achieve the desired
goal.
Technology is good for bringing the change not forcing it.
It cannot make employees more efficient. Yes, the right
technology can help to make the work easier, but if an
employee is truly falling behind or is just inefficient, all the
technology in the world will not solve this situation. The
in the Modern Era
Entrepreneurial Spirit
40 | May 2019
Sustaining
truth is such employees can be sometimes inefficient due to
either inexperience or laziness. An entrepreneur can
identify this problem by improving communication in such
departments. This explains why human interference is
important to address this situation, where technology is
just a bandage, fix the problem for a short time. Adding
new and faster technology will not fix the problem.While a
better solution is sitting the departments down together and
talking about the problem with the entrepreneur will be a
realsolution.
Ÿ Retail
Technology allows retailers to be available day and night
interacting with customers how, when and where they are
ready to shop. Retailers depend on technology to manage
inventory, track customer-purchasing habits, predict
trends and deliver goods and services. Wireless
communication, QR codes and Augmented Reality are
some of the changes in technology to the retail industry.
Ultimately, the entrepreneurship element remains central
even if it is embedded within AI, advanced analytics, etc.
Because a customer's shopping experience is more
important than price and product quality. Entrepreneur
encourages employees to use their creativity to ensure
every customer experience is memorable. Entrepreneur's
human interaction adds the value to the company and
maintainsloyalcustomers.
Ÿ Communication
In virtual workplaces, employees can interact and develop
ideas by connecting through the use of video conferencing.
This may include training and important meetings from far
places to the employees. Technology can also be used as
real-time feedback from the employees which allows the
entrepreneur to improve the needs of the employees.
Entrepreneur's good communication is necessary to allow
efficient flow both internally (among employees) and
externally(using technology).
Ÿ Automation
The robots are coming and can actually help us, to be more
productive, freeing us from most of the time-consuming
41|May 2019
Entrepreneur Echo System
and repetitive tasks. One of the most important areas of
application of automation is computer-aided
manufacturing. Today CAD/CAM technology has been
applied in many industries including machine
components, electronics products, and equipment design.
Even banking and financial institutions have embraced
automation technology in financial transactions. But just
because technology is advancing it does not mean it will
replace human. Technology can do an adequate job, but we
still need humans. It is certain that people to people
communication remains fundamental where the
entrepreneur'scontactinthevariousstagesis required.
Ÿ Security
Technology becomes even more critical when operating
the business online. It is important to protect the businesses
from cybercriminals who could steal data or lead to
website downtime. Encryption and decryption protect
information from being accessed by a third party or
cybercriminals. It takes only about a minute without
slowing down anyfileor document.
Ÿ Storage
Technology has led to the development of cloud computing
to store business information and has been accepted by
many in the world of business. Cloud Computing is cost
effective and convenient to the company management and
employees can access data from anywhere by just using a
device that can access the internet. It helps entrepreneurs to
trust these technologies and build a strong trust among
internalmanagementof thecompany.
Overall Artificial Intelligence, Blockchain technology,
Cloud Computing, Internet of Things, 3D printing, etc.
today are helping entrepreneurs to use this technology in
every field to grow their businesses. But technology alone
cannot create a company culture, where human
interactions are valued. Because it is people who are
assigned to work on this technology and to encourage them
the entrepreneurs keeps their spirit alive. By creating an
interested working environment, interactive dialogues
among employees, support and motivation to the
employees, reward system, etc. reflects the culture of the
company. It is an entrepreneur who understands what the
needs of the company are, by creating a connection with all
the stages of management that brings the desired output.
Hence, entrepreneurial spirit and technology should go
hand in hand. Therefore we need evolving technology as
well as intelligent humans. We need guided missiles as
wellas guidedmentocreatethebetterworld.
42 | May 2019
Top creative leaders innovating in business 2019
Top creative leaders innovating in business 2019
Top creative leaders innovating in business 2019
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Team Dynamics: A Journey to Excellence
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Top creative leaders innovating in business 2019

  • 1. www.insightssuccess.com May 2019 Brian Shore 2019 Crea iv Vol-5 | Issue-4 Serving the Needs of Others Innovating in Business t e Leaders Top Brian Shore CEO ZOOM International
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  • 4. oncluding from every bit of experience I have on leadership, I can say that a leader has no limits. Also, there is no Ctextbook definition that is comprehensive enough to suffice the characteristics of a modern day leader. Apparently, he or she has to be whatever the company requires at the eleventh hour, in which case creativity becomes one of the most important traits. Creative leadership allows a company to have an innovative approach while solving problems. A creative leader inspires his/her team to bring new ideas on the table and promotes innovative ideas on the floor. Stretching mind to come up with some new and exciting ways to do something always make us reach our full potential. This is how creativity defines its significance and acts accordingly in business world too. Creativity enables organization to find new ways to achieve its goal and promote healthy and steady growth numbers. It makes enterprises adopt the methods that are not applicable with conventional methods. Previously, creativity was said to be associated with people in artistic professions such as writers, painters or musicians, but this is not anymore the case. Creativity is much needed into the business world, as leaders at coveted positions had to rely on creative thinking to distinguish their organizations from competitors. As we are surging towards the unpredictable future, we can see that the business world is continuously changing and the resources are becoming scarcer. Thus, this contemporary corporate world needs creative change-makers, who can come up with the ideas and bring them into life with the available resources. Creativity is something that fuels innovative ideas, and opens door to new opportunities. With creative and stable leadership, organizations can ride those changing waves with the right strategy and make this world a better place. The Essence of Creativity in the Business World
  • 5. With the intent of bringing some creative minds, who are transforming the status quo of various sectors, into limelight, Insights Success brings to you, “Top Creative Leaders Innovating in Business 2019”. These leaders are riding the changing waves of businesses with their novel approaches and bringing out the substantial change into their respective sectors. An avid entrepreneur, Brian Shore, features on the cover of this issue. Brian is creating great customer experiences and serving the needs of others by serving as the CEO at ZOOM International. Over the past 8 years, Brian has led ZOOM to a 30%+ compound annual growth rate in sales and a world-class 87% net promoter score for customer satisfaction. He believes leadership should focus on a “be of service to others” mindset and back it with an authentic culture focused on the customer, partner, and employee experience. Delve in to more such inspiring stories and lessons from many such significant entrepreneurs in this issue and reap the fruits of motivation. Also, make sure to scroll through the articles written by our in-house editorial team and CXO standpoints of some of the leading industry experts to have a brief taste of the sector. Happy reading! “ “More than a responsibility, creativity should be developed as a habit. Shubham Khampariya
  • 6. Tech-Know Insights What a Tech CEO can Teach Your Business about Digital Expert’s Outlook The Fuss about AI Brian Shore Serving the Needs of Others COVER STORY 08 CONTENTS 16 36
  • 7. From Editor’s Desk The Journey to Self-Discovery Jared Bauer Changing the Medtech Community for Good Johannes Fruehauf Redening Entrepreneurship Ken Marlin Persistence of an Unreasonable Leader Ofer Lidsky A Veteran Leader in the Field of Digital Health Timothy Loginov From a Freelance Technical Writer to a Successful Tech Entrepreneur ARTICLES Entrepreneur Echo System Sustaining Entrepreneurial Sprit in the Modern Era 34 38 30 2420 4026
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  • 9. sales@insightssuccess.com May, 2019 Editor-in-Chief Senior Sales Manager Business Development Manager Marketing Manager Technical Head Technical Specialist Digital Marketing Manager Research Analyst Database Management Technology Consultant Pooja M. Bansal Managing Editor Anish Miller Executive Editor Shubham Khampariya Assistant Editors Jenny Fernandes Bhushan Kadam Visualizer David King Art & Design Director Amol Kamble Associate Designer Kushagra Gupta Kshitij S Peter Collins John Matthew Sales Executives David, Kevin, Mark, Avadhut Business Development Executives Steve, Joe, Alan, AnupJacob Smile Aditya Marry D'Souza SME-SMO Executive Prashant Chevale Patrick James Circulation Manager Robert Brown Stella Andrew David Stokes Priyanka Rajage Co-designer Copyright © 2019 Insights Success, All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success. Reprint rights remain solely with Insights Success. Follow us on : www.facebook.com/insightssuccess/ www.twitter.com/insightssuccess We are also available on : Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone - (614)-602-1754 Email: info@insightssuccess.com For Subscription: www.insightssuccess.com Insights Success Media and Technology Pvt. Ltd. Off. No. 22 & 510, Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017 Phone - India: +91 7410079881/ 82/ 83/ 84/ 85 Email: info@insightssuccess.in For Subscription: www.insightssuccess.in
  • 10. Brian ShoreServing the Needs of Others ZOOM’s purpose is to create great customer experiences and serve the needs of others. Cover Story
  • 12. In an interview with Insights Success, Brian Shore, CEO, ZOOM International, shares valuable insights from the experiences he gained during his entrepreneurial journey. Moreover, he broadly discusses the services offered by his company. Below are the highlights of the interview conducted between Brian and Insights Success: How do you diversify your organization’s offerings to appeal to the target audience? First and foremost, we guide our customers by helping them answer one simple question, “How did each specific interaction make the customer feel?” This sounds rather simplistic on the surface, but it comes as no surprise that many great and well admired software companies focus entirely too much on their tech stack or usage metrics and not nearly enough time on the impact to people. At ZOOM, we start with capturing the Emotion of the Customer (EOC) by leveraging one of the most comprehensive survey platforms in the industry (Email, SMS, IVR, Manual & Outbound Dial) and work backwards towards connected points of coaching. Our goal is to provide actionable insights using technology and repeatable workflow that highlight the most successful customer interactions from the customers’ perspective rather than the agent or supervisors. We know from our own experience that doing so will turn unconscious organizational competence distinctly conscious allowing those successful interactions to be used as a benchmark, and training tool. Pinpointing the least successful interactions from the customers’ perspective also provides actionable information such as identifying gaps in personal coaching or process pitfalls which can be rectified. We refer to this as 360- degree insights where the agent, supervisor and customer all weigh in creating a full picture of each encounter. Most organizations can achieve only a portion of this type of actionable intelligence using multiple products from multiple companies or manually intensive processes. Describe some of the vital attributes that every entrepreneur should possess. When asked, “What is the secret to success?” My response is typically, “When I find it, I will certainly let you know!” In all seriousness, entrepreneurs need to possess a variety of traits to sustain and persevere through the many setbacks, disappointments, self-doubt and moments of personal failure. First, one must understand why they want to build something and clearly understand their own core values. If you understand why you are doing something and how it ties into what you care about the most (values) then you are well equipped to accomplish almost anything. The second most important trait is perseverance coupled with a combination of ignorance, stubbornness and near delusion. Building something is tough, not only physically tough… mentally tough. Failure is a relative term and usually associated with the moments when we quit on ourselves. I’m perfectly ok with making mistakes but I’ve never been ok with giving up or not finishing what I started. At the risk of sounding trite, the third point is the most important and applies to anyone in any field professionally or personally. You can have almost anything you wish for in life but you have to help the person in front of you get what they want first. There are no tricks or shortcuts and people can sense authenticity very quickly so try to help others achieve their goals, ambitions and desires. What were the past experiences, achievements or lessons that have shaped your journey? There are so many lessons learned over the years that I am struggling to choose the most pertinent ones. The first experiences that come to mind involve my amazing parents and their advice and personal challenges. My parents used to refer to their divorce as their greatest failure but if you look at their lives today, they wouldn’t be with their current partners or be the people they are today without it. If you are an entrepreneur, married, a parent or a friend, sometimes we have to let the situation play out because very few situations are as bad as they seem in the moment. The Dutch have a great saying, “The soup is never eaten as hot as it is served.” Sometimes when we think we have failed, we are really just walking down our path and learning from it along the way. I’ve had so many amazing mentors, teachers, friends and people who chose to see the best in me and I wouldn’t do what I do without them. No one does anything alone so surround yourself with like- minded people that assume positive intent and want the best for you. Where do you see yourself in the near future and what are your future goals? The future is difficult to predict but I am incredibly excited about the opportunities to become a better steward to our 150+ employee families within ZOOM, our 350+ Partners world-wide and our 2,000+ Customers in 94 Countries that permit me to do what I love. It’s easy to serve their needs because they provide so many amazing opportunities for all of our families. While ZOOM has my 100% focus and
  • 13. Inner joy is directly proportional to my contribution to others.
  • 14. attention, my personal hobby is angel investing and helping aspiring business leaders flourish. On a purely personal level, becoming a more mindful Husband and Father tops the list. My Children will ultimately provide the litmus test for my life after I am gone. What is your advice for budding and emerging entrepreneurs? Focus on why you want to be an entrepreneur and your core values – not the outcome. Choose people you trust and love to go on the journey with you as you will need them more than you know along the way. Keep your personal expenses low so you can prioritize the needs of the company. Find the best partner in life possible that has your back. My wife, Rachel, has helped me through my toughest moments and I’m eternally grateful. You can have almost anything you wish for in life but you have to help the person in front of you get what they want rst.
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  • 16. Address : Country :City : State : Zip : Global Subscription Date :Name : Telephone : Email : READ IT FIRST Never Miss an Issue Yes I would like to subscribe to Insights uccess Magazine., S SUBSCRIBE T O D A Y Che should be drawn in favor of:ck INSIGHTS SUCCESS MEDIA TECH LLC Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone (614)-602-1754,(302)-319-9947: Email: info@insightssuccess.com For Subscription: www.insightssuccess.com CORPORATE OFFICE
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  • 18. cxo1 What a Tech CEO can Teach Your Business about Digital Pam Bateson is an expert coach and mentor in business, training others to Masters level qualications and supervising coaches. She has worked within the healthcare, retail, hotels, construction, media, agencies, education and public sector. She specialises in Coaching, Mentoring, Employee Engagement, Change Management, Learning and Development and Organisational Design. She has worked with all levels in organisations from graduates to the CEO. She has designed change programmes that connect projects, outcomes, training and coaching. The performance outcomes have been outstanding. She is CEO and Co-founder at Thrive Partners. About the Author 16 | May 2019
  • 19. am Bateson set up Thrive PPartners, an on-demand coaching company, three years ago. In this article, she shares her point of view on how important humans are in a more digital world, what she’s learned as a tech CEO, and what this means when you’re looking to use tech in a way that’s both disruptive and works for customers. Tech-Know Insights 17|May 2019
  • 20. In October 2015, I gave up a successful career as a management consultant and coach to set up Thrive Partners. Lots of people thought I was crazy. I was approaching 50, with two children still at home. But for the decade running up to that decision, I’d been thinking about a better way to deliver coaching – supported by digital, to share more widely the coaching tools I’d used to help clients for many years. This was the business I set out to build three years ago. Today, we’re working with 25 clients on five continents – delivering our own brand of on- demand coaching, backed with insights for the whole business. The learning curve has been steep – particularly for someone who, by their own confession, didn’t have a lot of experience in learning technology. So here, I wanted to share some of the things we’ve learned – and what it might mean for your business. Dream big I didn’t really set out to build a business that would be considered disruptive, but my background as a lean engineer and coach did mean that we ripped up the rulebook when it came to the coaching industry. We scrapped the idea that you needed to meet face to face, and that sessions had to last an hour, or even two hours. And we made it a lot easier for people to access a coach to answer the questions they had there and then – increasing access so people could chat to an expert within an hour. Working with my co-founder, we then rebuilt the industry by asking the biggest questions we could imaging. What if we could make coaching available to whole organisations? What if we could get listening as valued as speaking? And what if we could help organisations learn as quickly as individuals? I found these questions irresistible: I wanted to do for coaching what Uber had done for getting a taxi, Netflix had done for home entertainment, and Tinder had done for dating. It’s these The whole-system insights we produced has helped to make sales processes smoother, improved communications and created more opportunities for people to learn. Keep it human With suicide being the biggest killer of men under 45, loneliness sweeping through developed economies in epidemic proportions and a third of all young people suffering from anxiety, I strongly believe that we have a duty to keep talking to each other as a society. We believe that keeping the art of conversation alive in this digital age is essential; only humans can master creativity, empathy, humour and imagination in a way that’s compelling. Information is everywhere, so we’re using technology differently – to offer real human experiences at scale, at any time of the day, whenever our clients need a conversation, for everything you can’t Google. And what of the future? Curiously, even the structures of artificial intelligence and machine learning look set to mimic human patterns. It’s still early days, but leaders in this space talk of ‘deep learning’ with AI – by layering up different tools that connect in the same way as our brain’s neural networks. And so, the next three years? My recent experiences have led us to ask even bigger questions than we did to begin with – which I suspect will lead to our next irresistible set of adventures! What if we could transform learning management systems into learning ecosystems? What if any community of learners could connect with any community of teachers? And what if a better understanding of outcomes from learning could help both individuals, organisations and society to thrive? I for one believe there are exciting times ahead. big dreams that have galvanised our success in the last few years – and which has set us in the right direction for the future. Build for modern users Despite big dreams, we’ve also made our fair share of mistakes! A lot of them mistakes happened when we took our attention away from our end customers. It sounds obvious to see it there on the page. But it can be easy to lose sight of the customers that matter most, especially when, as a tech CEO, sometime we get preoccupied with a shiny piece of new technology. So, what to consider first when it comes to users? The main thing to bear in mind is that they expect experiences that are easy and fast to access – a shift brought about by what we call the ‘Amazon Prime Mindset.’ In this era, clunky user experiences reduce the chances of uptake of services. In short, if your technology can’t match or exceed the quality of digital experience people get in their everyday lives, then you’ll need to go back to the drawing board. Create wins for the many So, if users come first – who else can we harness the power of technology for? Our answer? Everyone else in the system. Early on in the development of our MyThrive platform, we realised that delivering digitally would enable us to do more than just scale and facilitate coaching in global organisations; it would also mean we could spot trends and patterns within communities of users, in organisations or society at large. Just as carefully listening has a powerful and transformative role in one-to-one coaching conversations, carefully listening to and analysing anonymised version of the conversations we host has a powerful and transformative role within whole organisations. 18 | May 2019
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  • 22. Jared Bauer Changing the Medtech Community for Good Give me the bad news rst. If we don’t know what we’re up against, then we can’t solve the problem. We will nd time to celebrate the good news as a team in due time. “ “Jared Bauer Founder & CEO, ApolloDx Founder & CEO, CibusDx Interim CEO & Director, ProLung Co-founder, The Oliver Fund 20 | May 2019
  • 23. While growing up in Twin Falls, Idaho with his eleven siblings, Jared Bauer learned firsthand the value of an honest, hard day’s work. Mr. Bauer learned to embrace both good times and difficult ones from his parents. In this way, he has long been drawn to the challenge of “turn- arounds.” Mr. Bauer’s impressive track-record shows he has a real knack for it, which he humbly attributes to correctly identifying and solving the most pressing issues to get a company back on the track to profitability. With his undergraduate degree in Economics and a MBA, Mr. Bauer has specialized in medtech turn-arounds for the past eight years. With a cool, calm and collected approach to identifying the most crucial elements to resolve, he has successfully navigated public and private medtech companies through complicated issues with founders, shareholders, former management and legal issues. His commitment to transparency is the key to earning and maintaining support from stakeholders and team members alike. Furthermore, Mr. Bauer operates with a “bad news first” mentality to ensure no critical issues unintentionally go by the wayside. All of this goes hand-in- hand to prioritize those issues that need to be resolved first. A Passionate Leader Improving Lives of Others Jared Bauer is personally and professionally passionate about helping and improving lives of others through his service in the medtech industry. He has dedicated nearly a decade to the global medtech industry. In 2012, Mr. Bauer founded Exuro Medical and acquired BurnFree products. At that point, BurnFree was riddled with legal issues and had not shipped any product for approximately six months. By primarily focusing on regulatory processes and re-working quality systems, Mr. Bauer piloted Exuro Medical into the second largest burn treatment company globally with distribution in 58 countries. He then successfully exited Exuro Medical. In early 2017, Mr. Bauer identified an opportunity to acquire a technology mired in legal issues and acrimony that he used as the basis for founding ApolloDx, an in vitro mobile point-of- care diagnostic medtech company, and CibusDx, a food safety company. As the Chief Executive Officer for both companies, he has heavily invested in refining the rescued technology. As a result of his prescient vision of the best path forward, ApolloDx and CibusDx are both now poised for commercial success. In mid-2018, Mr. Bauer was appointed as Interim Chief Executive Officer and Director at ProLung, which is focused on helping accelerate physicians’ diagnosis of lung cancer. With his keen eye for identifying solvable impediments to success, Mr. Bauer re-organized the company and re-adjusted its corporate strategy. He has been rewarded with strong shareholder support as the company moves forward. Mr. Bauer was also invited to serve on a committee selected by the Governor of Utah to help the state further expand and improve its burgeoning medtech community. Salt Lake City specifically and Utah in general have been fortunate to cultivate a rich, diverse medtech industry over the years that includes everything in-between some of the largest medtech corporations to medtech start-up’s. The Utah Governor’s Office of Economic Development (GOED) recently published a report detailing the incredible contribution medtech community makes to the State of Utah. In fact, Utah trails only Massachusetts and California for the size and health of its molecular diagnostic and precision medicine community. Working Endlessly to Improve Children’s Life throughout the World Mr. Bauer and his wife of fourteen years, Sarah Bauer, are incredibly proud of their ongoing work as trustees of The Oliver Fund, which is a non-profit organization. They co-founded the organization with the aim to improve children’s standard of living and sense of community in underdeveloped countries. The organization was started in honor of Mr. and Mrs. Bauer’s deceased son Oliver who was born with a heart defect and died on Valentine’s Day 2009 just one day shy of eight months old. The influence that Oliver’s life had on his family and those who knew him was profound. Now the Oliver Fund tries to recreate the light that Oliver brought with him by working to improve the lives of children throughout the world. The Oliver Fund believes all children deserve to be served with the playtime they need. Solutions to these issues include giving children healthy diversions that allow them to learn and grow through physical and imaginative play. Simple sporting equipment, such as indestructible soccer balls, durable jump ropes and dolls allow children to learn team building, community involvement, and create a sense of ownership. The Oliver Fund’s fundraising efforts are focused on purchasing these items to send to regions around the world where children have little to no access to these amenities and education. When the Plan is to make a Positive Difference for Patients As a long-time contributor to the medtech industry, Mr. Bauer is passionate about making a positive difference for patients – not just in the USA, but around the world. He envisions that he will always want to continue helping shareholders and investors who have encountered significant obstacles in bringing their innovations to the global healthcare market. While he is the first to admit that he does not have all the answers, he firmly believes that with the right team he likes his chances of breaking down the issues from most to least important to solve in order to succeed. 21|May 2019
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  • 26. n an interview with Insights Success, Johannes Fruehauf, IFounder and President of LabCentral and BioLabs, speaks about his experiences that shaped his entrepreneurial journey into a successful one. Also, he broadly discusses the companies’ core competencies and the services they offer. Below are the highlights of the interview conducted between Johannes and Insights Success: How do you diversify your organizations’ offerings to appeal to the target audience? In each of our facilities, we engage key partners to realize our vision. Those key partners include state and local governmental agencies with an interest in economic development, universities, research hospitals, big pharmacy, instrument manufacturers, and others who want to interface with our innovators. Each brings its own viewpoint that help tailor how these projects develop. We understand the needs of our resident startups; as entrepreneurs and founders ourselves, we’ve walked in their shoes. Our model is not a real estate transaction, but an ecosystem created for entrepreneurs to enrich their business. Multidimensional in our approach, we connect our different stakeholders who contribute and benefit, bringing a 360° perspective. We’re in a continuous dialogue with residents, sponsors, and the larger community, so that’s how we fine-tune our model, adding products and services to meet current and future needs. “ “ 24 | May 2019 There’s always going to be a thousand reasons why the time isn’t ideal; steel your courage and jump in. Johannes Fruehauf, MD, PhD, Founder, President LabCentral & BioLabs Fruehauf Johannes Redening Entrepreneurship
  • 27. For example, we developed our LabCentral 610 “graduation-labs” site for companies that outgrew our entry-level offerings. It wasn’t something we’d ever even thought of in the beginning. But residents requested to remain within our supportive environment as they grow, meet their milestones and start their next stage of development. Describe some of the vital attributes that every entrepreneur should possess. Fearless, relentlessly optimistic and motivated are the key aspects. At times, it may even be helpful to be so focused to be blind to some realities. It’s their energetic determination and an unyielding drive to have an impact that allows fledgling startups to succeed against entrenched big business. Of course, in our field of science, entrepreneurs must be grounded in both the science and their business segment. What were the past experiences, achievements or lessons that have shaped your journey? I was quite unprepared when we started Cequent. In retrospect, if I hadn’t had to learn everything the hard way building a lab, a team, and a company from the ground up, maybe my co-founder and I wouldn’t have been so driven to invent a new, more-efficient path for creating startups. I grew up and received my medical training in Europe. As an immigrant, I had never really been exposed to the idea of venture-funded companies until I came to Boston. Here, I saw an industry that is turning academic ideas into real- world applications. It’s probably not surprising that we see a large number of startups being founded by immigrants. After all, immigrants embody those vital attributes in their daily lives when they risk packing up and leaving their own country to come here. How do you strategize your game plans to tackle competition in the market? We are going places that we never dreamed of when we started the co-working movement for biotech startups. We don’t tackle the competition. We lead; others follow. And we’re proud of that! Since you used the word “tackle,” I’ll use an American football analogy. If your running back breaks through the defensive line, he runs toward the end zone as fast as he can. He realizes that he’s being chased, but he doesn’t slow down to engage. We’re like that RB—we keep on full speed, with our focus on the end zone. What were the primal challenges and roadblocks you faced during the initial phase of your career as an entrepreneur? In the initial days, like every business, we faced challenges. Some only become visible in hindsight. When starting Cequent, my lack of experience in building and running business operations was probably my biggest. But I had the invaluable opportunity to work alongside an experienced mentor, Peter Parker. That’s an important learning: if you know where you want to go but you’re uncertain about the path. Look for mentors who have demonstrated successes to help you. Another obstacle we face frequently is the skepticism of the surrounding world when we present a new concept. Be driven and assertive when you know your idea is right. You just have to work hard to prove it to others. Where do you see yourself in the near future and what are your future goals? In the near term, we plan to continue to expand our network of lab facilities in the US and internationally as well as our fund activities. We believe that we can provide a valuable overall platform for innovation in our industry and aim to reach even more teams of founders. What is your advice for budding and emerging entrepreneurs? Get on the calendar of as many experienced founders and investors as possible to ask these role models for advice; don’t be shy but do be respectful of their time. On entrepreneurship: just do it; don’t wait, there’s always going to be a thousand reasons why the time isn’t ideal, steel your courage and jump in. About the Leader In 2006, Johannes co-founded a biotech startup, Cequent Pharmaceuticals, and since then founded and co-founded several others. Although glass-filled co-working labs for life sciences seem ubiquitous today, in 2013, when his co- founder, Peter Parker, and he opened LabCentral in Kendall Square, many shook their heads. No researcher would dare to put their precious IP in such close proximity to others. Johannes knew they had activated a paradigm shift for high-achieving founders and their companies through their co-working environments built at BioLabs and LabCentral. It took just a few years to prove the nay-sayers wrong. In fact, they believe they changed the industry, or to be precise, gave birth to a new one. They dramatically increased the capital efficiency of starting biotechs through their innovation communities by a factor of up to 10 to even 20 and companies enjoyed a greatly increased likelihood of success. 25|May 2019
  • 28. Entrepreneurs set up their new ventures with a new and unique vision, goal, and its future. These entrepreneurs face many challenges over the course of their journey. However, financial challenge is the most painful ones they have to face. Making a list of all the financial challenges can aid a business and a new starting player in attaining sustainability and economic stability. The Small Business Association estimates that around forty-four percent of startups and small business survive at least for four years only. Others cite that poor capital management, overspending, and the lack of reserve funds are some of the common reasons behind a business closure. All these three terms come under the finances of a company. One way to address the financial problems is to use the 4R formula i.e. Review, Revamp, Research, and Rewrite the company’s business plans. By using this formula, they can take action against the things that are not working out. Working Capital Issue Startups have to wait for their big clients to pay up so that they can manage their expenses. Entrepreneurs must save at least the expenses of six months as its working capital, which can help them in engaging new customers and create a productive business pipeline. Players can also avoid inadequate working capital by cutting-costs up to twenty percent and set the cut out as the working capital. For the startups that are yet to make profits, should make sure that they are adequately financed before taking any harsh decision, which can affect their survival in the industry. Non-consistent Cash Flow Issue Most of the project-based business relies on their cash flow, which further relies on the flow of the project and the services rendered. It is therefore important for the company to have a good business team ready to connect new and reliable clients and projects. For the company that does not rely on the cash flow, must construct a flow of consistent cash flow at the proper time. If the client is unavailable to pay on-time, the businesses should think newer methods of client engagement. They should be patient and make decisions that would help them while dealing with the clients in the future. Another way of improving the cash flow is to get a down payment for the product and the services provided. This 26 | May 2019 Self-Discovery to The Journey
  • 30. down payment will aid the companies in covering the expenses associated with the project sales and profit margins. Firms can also set a day in the week to go through the accounts, payables, and checks. Bookkeeping Issue Corporations can hire organized bookkeepers, which can save a lot of time. If they cannot find one, they can give this responsibility to one of its team member. The firm can improve by distinguishing the discretion and non-discretion spending. These include rent, office overhead, inventory purchases, and wages. The companies can even save further by polishing their overall marketing plans. Identifying and creating a larger clientele that can develop marketing strategies can help in promoting the service and products. Firms must set goals and expectations for marketing initiatives and develop the tools to improve the revenue outcomes. Wrong Predictions and Revenue Issue Businesses on a day-to-day basis have to predict the company’s revenues. This is even truer for the businesses that are dynamic in nature. Most of the predictions can be measured on a month-to-month basis. Although a lot of factors that are dependent upon the revenue prediction, but mostly it rely on the relevancy of the business. By foreseeing accurately, the firms can generate good revenue that is crucial for the cash flow statements. By paying attention to the seasoned fluctuations and affected timelines, they can predict the revenues accurately. Hiring Issue Hiring a good staff is not an easy task. A decision like over- hiring can create additional costs for the company in contracts and long-term employee liabilities. The employer is responsible for its employees and they have to provide them with the employee benefits that increase the costs. The key solution lies in hiring the term-based employees, freelancers, and independent contractors as they will provide services only for the time worked and employer do not have to add payroll costs in paying them. These independent contractors are paid only for their time spent on the work. Depending upon the job, firms can easily find out that whether these are perfect for the job or not. In return, these can absorb the work-related wages and can add the benefit of costs. In eliminating the conundrums, the mind-power and descision-making of the entrepreneurs is important. They can seek loans and grants which are specifically tailored towards boosting the company's finances. Even some of the vendors allow the company to offer their assistance and can refine the business debts. The players should not haste in making a decision. They should be thoughtful and intellectual for deciding the expenses. It is important for them to think strategically. They should be aware of their decisions and should seek guidance in decision-making and in expenses. 28 | May 2019
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  • 32. Profile-3Ken Marlin Ken Marlin In an interview with Insights Success, Ken Marlin, Founder and Managing Partner of Marlin & Associates Holding LLC, shares valuable insights from the experiences he gained on his entrepreneurial journey. Moreover, he broadly discusses on some of the attributes one should possess in order to become a successful entrepreneur. Below are the highlights of the interview conducted between Ken and Insights Success: What past experiences, achievements or lessons have shaped your journey? I suppose it all has to begin with my time in the Marine Corps. In 1970, when the Vietnam War was still hot, I quit college to enlist in the United States Marine Corps. I spent 10+ years on active duty and that turned out to be a defining time in my life. I was promoted and then sent to officer candidate school where I was commissioned and st sent to the 1 Marine Division as a young platoon commander. For the next decade, I had a series of great experiences (and a few not so great ones) in the US and in Asia (where I did two tours) as an Infantry Company commander, a battalion staff officer and as a st member of the staff of the Commanding General of the 1 Marine division. As I wrote in my book, that Marine Corps experience taught me a series of valuable lessons on the best ways to lead and motivate men and women and build organizations that will persevere and succeed under complex challenging circumstances that are often chaotic. These are lessons that have served me well leading civilian firms. How do you diversify your organization’s offerings to appeal to the target audience? We don’t diversify much. The Marine Corps taught me the benefits of using people with deep domain expertise in clearly defined areas - and that lesson has been reinforced over the years. I’m not a believer in “generalists” in any professional service - be it medicine, law, advertising, or investment banking. We take the opposite tack. We are very focused 30 | May 2019 Persistence of an Unreasonable Leader Ken Marlin Founder & Managing Partner Marlin & Associates Holding LLC
  • 33. Do the right things, for the right reasons, every time, no excuses. along two dimensions: the kinds of firms we work with - and what we do for them. We provide trusted strategic and financial advise the top decision makers at tech firms that provide financial software, information, data and analytics and those who would buy or invest in such firms. We help them figure out the best way to achieve their strategic goals with a further focus on efficient effective execution - whether they want to be a buyer, a seller or are looking to raise or invest capital. Describe some of the vital attributes that every entrepreneur should possess. I meet a lot of people who say that they want to be – or call themselves - entrepreneurs when they really mean that they would like to reap potential entrepreneurial rewards - but are unwilling to take entrepreneurial risk. Entrepreneurs are risk takers by their nature. They will bet big on themselves – to build a business and achieve their dreams. If they lose, the consequences are often material. But they don’t think a lot about losing. The best ones are also team builders. They know that they can’t build a company alone. If they are smart they learn to listen to the advice and opinions of others – without being slaves to the expectations of others. Ultimately they need to trust their own judgment. One of my favorite quotes is by George Bernard Shaw, who wrote: “The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” That is the very definition of an entrepreneur. What were the challenges and roadblocks you faced during the initial phase of your career as an entrepreneur? Many studies have shown that many businesses that fail because they run out of capital before they get traction. But that begs the question of why that happens. There is a tendency to say they underestimated the time it would take or the capital required. But it is more complex than that. Some of them had good ideas but simply weren’t good enough business people to begin with. They didn’t understand the numbers – didn’t understand timing and level of expected costs in detail nor the timing and realistic amounts of expected future revenue. They didn’t have a well-defined plan and certainly didn’t know how to pivot when that plan wasn’t going as expected. We founded this company in the beginning of 2002. The western world was in a deep recession that had begun with the tech market crash of 2000, followed by the terrorist attacks of 2001. I had expected the recession would be over by 2002 but it was not. Further I had underestimated how long it would take for us to build a base of clients. But we did a plan – and a modest a cushion of cash. We made no profit in 2002, 2003 or 2004. I lost one of my three people. And then I lost a second. My bank account was nearly dry. But we kept going. Fortunately, in 2005 it all turned around. It’s been a good ride ever since. Where do you see yourself in the near future and what are your future goals? The future is more of the same, slow steady building of a franchise that is international and growing. Careful cultivation of our brand and superior service to clients – without taking existential risks. What is your advice for budding and emerging entrepreneurs? Go into entrepreneurship clear eyed. It’s risky. Success is not guaranteed and it nearly always takes time. You can’t be in a rush. Be prepared for lean years and spend wisely. You need to have a well thought-out plan - and be willing to modify it as the market dictates. The market will tell you what to do - but only if you listen. About the Leader Ken is an investment banker, entrepreneur and international strategist. He is also the author of “The Marine Corps Way to Win on Wall Street: 11 Key Principles from Battlefield to Boardroom”, a book that has garnered strong reviews and has been ranked among the top in governance, finance and leadership. Over the past 30 years, Ken started and built several tech companies before embarking 17 years ago on a journey to create a different sort of investment bank. One that would meld the investment banking skills he learned on Wall Street with lessons he learned as a tech entrepreneur and then leverage these skills with values and principles Ken learned during the decade that he spent as U.S. Marine Corps infantry officer. Today, Ken advises U.S. and international financial technology, data and analytics firms on the best ways to buy, sell, grow and thrive. His firm has been the recipient of multiple awards including boutique investment bank of the year, multiple times. Institutional Investor, the international publisher has named Marlin as one of one of the most influential people in the financial technology industry. 31|May 2019
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  • 36. In an interview with Insights Success, Ofer Lidsky, CEO and Co-founder of DNAtix, shares valuable insights from the experiences he gained in his entrepreneurial journey. Moreover, he broadly discusses on the services offered by the company. Below are the highlights of the interview conducted between Ofer and Insights Success: How do you diversify your organization’s offerings to appeal to the target audience? Digital genetics is transforming the medical world as it is becoming affordable and accessible to hundreds of millions of people. Since genetics is the basis for preventive and personalized medicine people will share their genetic data to improve their health and wellbeing. However, Genetic data is large and extremely sensitive. DNATIX has developed unique blockchain based technology, providing anonymous and secured genetic services for B2B as well as B2C clients. DNAtix compression algorithm for DNA files enables to transfer large genetic efficiently and securely. We see ourselves as leaders in this field of digital genetics and blockchain as well as bringing privacy and control back to the people. DNAtix is making Genetics more secure and accessible to all! Describe some of the vital attributes that every entrepreneur should possess. Integrity Without Integrity nothing works. Never lose your integrity; your word is you in this world so you better keep it. Being a person who has high integrity will let you grow to the next level. For me, it is the most important characteristic that a person should poses. What were the past experiences, achievements or lessons that have shaped your journey? I have been studying science and computers for all my life. I got my first computer at the age of 7 in 1980 and this got things rolling for me. I have started my entrepreneurship at a very young age, in fact I owned my first company when I was about 20 years old. During the years and through personal experience I have learned many important lessons that led to the wisdom and knowledge I have today. Each failure and each success have been my teachers to the next stage. Finally, like many other smart people said before: “I never lose, either I win or I learn”. How do you strategize your game plans to tackle competition in the market? I believe that competition is good. It shows that other people validate what you do and that you are really tackling a real need in the market. The wisdom is to find the edge you can provide that is different than others and concentrate on it. You cannot be good in everything, but you can excel in one thing that will separate you from others 34 | May 2019
  • 37. and will make you a leader. Though many claim that marketing is the most important factor in the success of a company, I believe that in this new field of genetics and blockchain it is crucial to develop and deliver cutting edge technologies, which is what DNAtix has been doing. What were the primal challenges and roadblocks you faced during the initial phase of your career as an entrepreneur? When you have no experience, you make a lot of mistakes. This is the beginning of any road. The trick is not to make big mistakes and not to repeat mistakes you already did. That is an important rule to go by. Where do you see yourself in the near future and what are your future goals? I’m an entrepreneur and inventor, so I see myself keeping on creating new innovative technologies and tackling large problems to be solved. I see myself as a leader in the anonymous genetic space. I believe that data security is and will be the most important part of our current and future life. As they say, “Data is the new gold” and those who hold the data will make use of it granted permission by users or not. I am very concerned with people’s identity in the digital world and will make sure that our product will give a good solution to protect people’s privacy in a way that was never done before. What is your advice for budding and emerging entrepreneurs? Don’t quit! It doesn’t matter how many times you fail, or how many people are telling you that you cannot do it. What matters is how many times you get up and start all over again. What matters is that you have a dream and as long as you keep dreaming it and being persistence in perusing it- you will get there. Every entrepreneur should always remember that when you are ready to quit you are at the closest point to reaching your goal! About the Leader Ofer is an entrepreneur with over 30 years of experience in developing software. He is an expert in the fields of Information Security, Virtual Reality, Brain Computer Interface (BCI), Neuro feedback, Blockchain and Genetics. During his career, Ofer has founded a few leading start-ups and a nonprofit foundation which operates in schools in Israel. If you put your mind into it, anything is possible!“ “ Ofer A. Lidsky CEO & Co-founder DNAtix 35|May 2019
  • 38. For enterprises there are certain imminent crisis that demand that they change rapidly and market is not at all as forgiving as it was a few decades back, someone is constantly rooting for you to make a mistake.This is leading enterprise to transform under the integrated environment of Digital Transformation. Voice Technology has lately become a stable AI process and would completely change the way we interact with technology in the future. Visualization will remain at the heart of it however with conversational technology, we can expect a shift to more verbal ads, like radio, but more personalized and actionable, but still to make a decision on which product to buy you would want to see it visually. Also search will become more specific and hyperlocal, where we will be prompted to give verbal feedbacks, that would amount to popularity of products and places, how it happens with mobile applications today. Siri, Cortana, Alexa have brought conversation technology to people for some time now. They come bundled up with smart phones and can be used to do basic searches, to look up certain things, cue up songs etc. Speech technology has come much further than that. With its advancement we can now control our oven, tv and other house hold devices, can search complex data from cloud or can make phone calls for ourselves. It can change the way we function in our daily lives, our time with our family, services we receive and the jobs we do. It can eliminate learning curve of devices, repeatable chores, and compiling excel sheets. And it will not happen eventually, it’s happening now. Developers will innovate to create more audio centric user interface, there will be discovery period for them to find out how to minimally prompt user to give inputs and implement voice modulated visual commands. We can see speech approaching a point where it would become so reliable that we can just use it, like how we do it with other humans, and not even think about it. Ihave been a strong advocate of conversational technology (VoiceTech/NLP) and AI and have pitched for it in various conferences, Guest Lectures at leading business institutes and to corporates and I am often being asked what will happen to our jobs? So this is true that Artificial intelligence seems like a big untameable monsters to most, and everyone is little anxious about future. And that could be true sitting in 2010, but past few years new old research and young progressive companies and devision of enterprises are willing to make it their sole purpose that the infuse digital transformation in their company and provide assistance to others. But, with the prevailing reputation that comes at a cost of educating everyone, really everyone. They see it as a risk and any have burnt their hands trying to tame novice early stage AI models. But thats fine, thats how we grow. I believe that we are intellectual beings with curious minds, why would we want to do repeatable jobs which machines can do with greater efficiency. We can delegate these chores and teach the machines to help us better and imitate human decision making, innovate at personal level and “Democratise Artificial Intelligence”. Democratising AI through platforms for like voice technology - Natural Language processing so the technical algorithms can stay with specific user base while use of the AI algorithms can be made as simple as conversing with machines. Thats a sure shot way to upskilling resources for example: Team of Analysts can train dashboards and Business Intelligence tools to map business KPIs and generate Compelling Business Stories and Insights in natural language for everyone in the organisation to benefit from, and then keep building the training over it through machine learning. We are personally running trials with Fortune 50 companies on this, so when I say you need to start looking at ways to incorporate new technologies I mean it. 36 | May 2019
  • 39. I am personally inspired to bring acceptance for conversational technology globally and I believe that the real success for this would not be when big corporations and industries would be using it but when every small and medium business and every household would be using it and help us to get a hold of our receding grip on reality from visually attractive and distracting screens on our tv, on out laptops and our smart phones. We have seen this kind of a shift with automated technologies and processes which has led to reduced laborious work, efficiency increased and averted accidents. Smart phones brought technologies closer to the end user. So, I took side with Artificial Intelligence and Machine Learning technologies, that will aid seamlessly while co-existing in our realities. And impact is not just on us in our personal capacity but for businesses too and professionals who spend endless nights collating data and make pretty ppts to show to the bosses. I believe that spreading the word on changing technological demography is not our responsibility or our burden. But you know why I make it my purpose?? Because it is a major step in evolution of technology and I know we need to harness it, shape it now, before someone else does it for you. Preksha Kaparwan is the Co-founder, CMO, V.UX Designer of Realbox.AI. The versatile IHM Pusa graduate initially served as the chef but got inclined towards technology and business analytics and founded RealBox in 2015. Within three years of its inception, they have raised $300k for Realbox and, their customers include fortune 50 and big 4 enterprises. As a thought leader she has been part of TEDTalk talk shows. She was awarded 'The sparks 2018' by your story for tech services for her exceptional contribution as a Tech Evangelist. About the Author 37|May 2019 Preksha Kaparwan Co-founder & CMO RealBox Data Analytics Private Limited Expert's Outlook
  • 40. Generally, an entrepreneur should be brave enough to believe they can make it, resolute enough to bet on ideas, and smart enough to always hedge their bets.” The virtue of wisdom, from Timothy Loginov, a co- founder at AnyChart, has allowed him to achieve new milestones in his entrepreneurial journey. Timothy started out as a freelance technical writer for up and coming software businesses many years ago. “Then I realized it’s better to create software by yourself rather than get hourly pay. At least that’s how things looked to me. So, when most of my university mates were trying to get jobs at government agencies or as beta testers for Blizzard, I decided to go into small software ventures with my like- minded friends,” recalls Timothy Loginov. In a few years, he together with his friends created a DRM service, Activatesoft.NET which they subsequently sold. They also ventured into the restaurant management software business, as well as database management and coding assistance tools. Their first achievement was a set of batch image and (later) video processing tools that allowed people to cope with a growing need to work with substantial amounts of digital photos. Then, Timothy and his business partner got a novel idea of creating a one-size-fits-all charting tool that the global interactive data visualization market now knows as AnyChart. Initial Struggles Often Lead to Success Because he went into business before he graduated from university, Timothy remembers a time when it was all about being able to believe in himself and his ideas. “But then, while we all dream to go big in months, it doesn’t happen exactly that way for the most. You need to — and I had to — persevere, and at the same time, cope with the fact that peers might already be getting cushy jobs and stable salaries while you are struggling,” says Timothy. There were roadblocks preventing his forward movement that forced him to learn something new, like proper planning, for example, in the fields of both finance and R&D. “Well, I have always believed that enthusiastic work is maybe the most important thing to get you started and running. However, to go from proof of concept into production you actually need to do a lot of grunt work. It was very painful, but an invaluable lesson,” he explains. Delivering Interactive Data Visualization In 2003, when AnyChart was founded, the idea behind the company was simple but exciting. The company aimed to allow every web developer and engineer to quickly visualize their data in any kind of chart. The output would be easy to embed into any web page or app built with any stack, looking beautiful regardless of platform or device. And they did it. Currently available as a JavaScript charting library, AnyChart’s solution has been used by thousands of organizations worldwide to operate interactive data visualization. The list of its customers includes: Microsoft, Samsung, Citi, AT&T, Volkswagen, Lockheed Martin, ExxonMobil, JPMorgan, Bank of China, and many more. “Nowadays, AnyChart is one of the world leaders in interactive data visualization tools. Our products have been recognized by information technology experts worldwide, included in many lists of the best charting software, and even have won several awards,” says Timothy proudly. For example, last year, AnyChart received a prestigious DEVIES award for the best JavaScript technology during DeveloperWeek in California. “ 38 | May 2019 From a Freelance Technical Writer to a Successful Tech Entrepreneur Timothy Loginov
  • 41. ““ Timothy Loginov Co-founder AnyChartThis year has been particularly exciting for the company. AnyChart has recently announced their new Technology Alliance Partnership with Qlik, adding 3 new product extensions for Qlik Sense. The partnership enables their community to be provided with more than 30 new chart types and features such as tooltips natively in the Qlik environment. “Already on the top positions in the data visualization industry, we are going to keep strengthening our leadership in the global market of charting solutions and continue expansion to new territories, verticals, and audiences,” comments Timothy. Aiming to Make World Better As a successful tech entrepreneur, Timothy is realizing his dream of making the world a better place by leading such an innovative company. “When customers tell us, they are happy to use our solution as it saves them time and effort in creating visualizations and making faster and better data-driven decisions, that is precious and inspires me and all of us to work even more. I’m glad it indeed happens often.” shares Timothy. Learn from Competitors Entrepreneurs need to have game plans in place to tackle competition in the market. Timothy suggests that entrepreneurs must keep an eye on their competitors and never underestimate up-and-comers: “Learn from them and try to understand what they are doing and why,” he recommends. Timothy also addresses upcoming entrepreneurs by asserting, “Since you have to believe in yourself, you cannot help but consider your way better, which sometimes makes it hard to admit you’ve come the wrong way. So, it feels much easier to dismiss what others are doing and keep saying “we know it better.” But you should know and remember that at the end of the day, you’ll have to get into your customer shoes and see why they might choose you and not the other guy.” Three Things to Consider When asked about the advice to enlighten emerging entrepreneurs, Timothy emphasized three things, “First, if you are contemplating to go into business, you should know that working for yourself is not for everybody. But I would strongly suggest that everyone should at least try to do that. Second, being an entrepreneur is stressful and you have to devise your own strategies to cope with this stress. Third, learn to delegate but never blindly trust your employees.” 39|May 2019 It’s all about the people you work with.
  • 42. Businesses operate, survive and progress in a highly dynamic economy, where change is the rule, not the exception. The change may be slow, sudden or almost extensive. One of the important forces of change is the change in technology. Most of these changes are used to enhance human capabilities to accomplish meaningful work. These changes are sometimes thriving on the entrepreneur.Asuccessful entrepreneur works to visualize these future changes rather than waiting for it and create a moredesirableenvironmentintheorganization. Technological breakthroughs do occur and it takes courage for an entrepreneur to accept the change and its implication. Technology breakthroughs like computers, color television sets, electronic sets, fuel-efficient vehicles, etc. have encouraged entrepreneurs to manufacture these products. Thus changes in technology from time to time pose several alternatives before the entrepreneur.This is an ongoing process in which the entrepreneur sets goals and strategies to meet changes in technology. But for strategies like marketing, human resource, supply chain, financial and legal strategies, etc. connection with people is important. Entrepreneurs define the formal relationships among people and specify both their roles and responsibilities. Because the end product is an integrated system of people & technology and to administer these systems, entrepreneuris required. Technology is helping us solve problems where human power alone is not enough. Different types of businesses require different technologies, but again, it is impossible to solve all integration needs with a single technology. This article will help you understand, that technology is only the part of the original solution and how in different sectors the entrepreneur'ssurrounding reallymatters. Ÿ Accounting Technology allows us to complete tasks faster. It replaces the tiresome tasks of manually storing, compiling, sorting, etc. and the ability to use data with a simple digital solution. For example, Sales ledger in the early days was time-consuming, expensive and all paper-based process. Technology helped increase productivity with the development of spreadsheet software like Microsoft Excel. Employees today are far better at finding what they need when they need it. Though only this will not achieve the outcome. Here, let's take a clear look at how the entrepreneur's spirit is really helping to achieve the desired goal. Technology is good for bringing the change not forcing it. It cannot make employees more efficient. Yes, the right technology can help to make the work easier, but if an employee is truly falling behind or is just inefficient, all the technology in the world will not solve this situation. The in the Modern Era Entrepreneurial Spirit 40 | May 2019 Sustaining
  • 43. truth is such employees can be sometimes inefficient due to either inexperience or laziness. An entrepreneur can identify this problem by improving communication in such departments. This explains why human interference is important to address this situation, where technology is just a bandage, fix the problem for a short time. Adding new and faster technology will not fix the problem.While a better solution is sitting the departments down together and talking about the problem with the entrepreneur will be a realsolution. Ÿ Retail Technology allows retailers to be available day and night interacting with customers how, when and where they are ready to shop. Retailers depend on technology to manage inventory, track customer-purchasing habits, predict trends and deliver goods and services. Wireless communication, QR codes and Augmented Reality are some of the changes in technology to the retail industry. Ultimately, the entrepreneurship element remains central even if it is embedded within AI, advanced analytics, etc. Because a customer's shopping experience is more important than price and product quality. Entrepreneur encourages employees to use their creativity to ensure every customer experience is memorable. Entrepreneur's human interaction adds the value to the company and maintainsloyalcustomers. Ÿ Communication In virtual workplaces, employees can interact and develop ideas by connecting through the use of video conferencing. This may include training and important meetings from far places to the employees. Technology can also be used as real-time feedback from the employees which allows the entrepreneur to improve the needs of the employees. Entrepreneur's good communication is necessary to allow efficient flow both internally (among employees) and externally(using technology). Ÿ Automation The robots are coming and can actually help us, to be more productive, freeing us from most of the time-consuming 41|May 2019 Entrepreneur Echo System
  • 44. and repetitive tasks. One of the most important areas of application of automation is computer-aided manufacturing. Today CAD/CAM technology has been applied in many industries including machine components, electronics products, and equipment design. Even banking and financial institutions have embraced automation technology in financial transactions. But just because technology is advancing it does not mean it will replace human. Technology can do an adequate job, but we still need humans. It is certain that people to people communication remains fundamental where the entrepreneur'scontactinthevariousstagesis required. Ÿ Security Technology becomes even more critical when operating the business online. It is important to protect the businesses from cybercriminals who could steal data or lead to website downtime. Encryption and decryption protect information from being accessed by a third party or cybercriminals. It takes only about a minute without slowing down anyfileor document. Ÿ Storage Technology has led to the development of cloud computing to store business information and has been accepted by many in the world of business. Cloud Computing is cost effective and convenient to the company management and employees can access data from anywhere by just using a device that can access the internet. It helps entrepreneurs to trust these technologies and build a strong trust among internalmanagementof thecompany. Overall Artificial Intelligence, Blockchain technology, Cloud Computing, Internet of Things, 3D printing, etc. today are helping entrepreneurs to use this technology in every field to grow their businesses. But technology alone cannot create a company culture, where human interactions are valued. Because it is people who are assigned to work on this technology and to encourage them the entrepreneurs keeps their spirit alive. By creating an interested working environment, interactive dialogues among employees, support and motivation to the employees, reward system, etc. reflects the culture of the company. It is an entrepreneur who understands what the needs of the company are, by creating a connection with all the stages of management that brings the desired output. Hence, entrepreneurial spirit and technology should go hand in hand. Therefore we need evolving technology as well as intelligent humans. We need guided missiles as wellas guidedmentocreatethebetterworld. 42 | May 2019