Never Sell Yourself Short

Never Sell Yourself Short

access_time Jul/07/2017

With little knowledge of fashion design and production, Allison Daroie founded and created Paridaez, a minimalistic transformative apparel line. Find out how this non-practicing lawyer created a successful fashion company from the bottom and worked her way to where she is now. Learn how to never sell yourself short and do what really makes you happy.

Watch the full episode on Alley's YouTube channel.

Related: What's the Worst Thing That Ever Happened to You (and How Did You Learn From It)?

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Putting People First and Pursuit of Funding Last Propels This Startups Growth

I got the opportunity to sit down with the CEO of Revcontent, a pretty hot topic company right now, to get to know the man behind the brand. John Lemp is an entrepreneur who has built two internet companies from the ground up into multi-million dollar businesses, and all with $0 in funding.

Revcontent is a content recommendation network, similar to its longer-established competitors Outbrain and Taboola. In the last year or so has come into the scene as an industry leader. However, they’ve also faced their fair share of criticism, which is why I was interested to see how this entrepreneur handles the struggles and success of building an Internet company twice.

Related: This Beauty Founder Shares the Secret Leadership Skill to Making a Company Thrive

Establish a durable culture focused on your mission.

Cool office spaces get a lot of hype today, and CEOs want to brag about all the video games and beer and ice cream they have. But what happens if the budget isn’t there for perks like that? And is this the best way to recruit and maintain top talent long-term?

Not necessarily. For Revcontent, Lemp says the company culture goes far past bringing your dog to work and Beer Cart Fridays. “I believe building a strong organization comes from hiring amazing people, being genuine to your mission, and creating an environment where those amazing people aren’t afraid of failure, and as a result, can own their success,” said Lemp.

Truly empowering employees is not an easy job either. It’s tempting to micromanage as a business leader, especially during periods of rapid growth.

It is up to the leaders of a company to foster and emphasize workplace culture. Often times when businesses face rapid growth, they fail to maintain that culture.

Why is company culture so important? It displays your brand’s identity, it makes people feel like they belong to your organization, and it helps identify your company values. Some tips for maintaining company culture include maintaining high standards for hiring, fostering and preserving company traditions, and empowering your employees.

Related: All You Need to Know About Creating a Culture Based on Growth

Put people first in every aspect of your business.

Putting people first is much more than simply treating your employees to lunch, or making sure your customer service is on par. It is something that every aspect of your business should revolve around.

For Lemp, Revcontent has never been about the money. He believes that one of the best strategic decisions he ever made was to focus on people, whether it’s his company’s media partners, consumers, or employees. Lemp's guiding philosophy is “Love people, not things. Use things, not people.”

“For consumers we learn from them and connect with them to build relationships. Our focus will always be on people in every area of our organization and I can confidently say that is our biggest differentiator and the sole reason for our growth,” said Lemp.

Take it from the global hotel brand, Marriott. The company’s philosophy of “putting people first” dates back to 1927, and is just as relevant now as it was 90 years ago. Marriott was onto something back then. This mindset to “take care of employees and they will take care of customers” has led Marriott to become one of the top hospitality companies in the world.

Related: Scale Culture Alongside Growth Through Diversity

Don’t lose sight of your mission.

Your mission statement serves as the foundation of your entire company.

One of the biggest mistakes that business leaders make is failing to foster an environment that aligns with their mission, and forgetting what that mission was in the first place.

Maybe that company made a deal that didn’t align with it’s mission because the focus was on profits. At the time it may not seem like a big deal, but it can make a huge impact on your bottom-line down the road.

Staying true to your company’s purpose is essential to being successful in the long run.

Lemp maintains his original vision for Revcontent, which is to empower an open and free world of media, and ensuring that free speech and independent thought flourishes. Even when big money is on the line, the easiest way to fail as a company is to lose sight of your mission.

Mergers and acquisitions are an exciting part of business growth and strategy, but only if it’s with the right people and the right brands. Revcontent recently acquired machine learning technology company, Rover. A huge influence in this decision was the fact that Rover shared the same values of Revcontent- a vision of a more personalized web, and a web that helps users discover content that is more relevant to them than ever.

Related: 4 Tips for Maintaining Cultural DNA During High Growth

Fail faster.

IBM’s Thomas Watson, Sr., once said, “the fastest way to succeed is to double your failure rate.”

Many leaders are quick to celebrate the successes of their employees, but what about failures? What about those failed attempts at creating a major breakthrough that your employees worked endlessly for?

The way Lemp sees it, those failures can serve as milestones as well, and they are putting you one step closer to reaching that breakthrough. In fact, Lemp believes those failures are essential to success.

The fear of failure is something that prevents many young entrepreneurs from reaching their fullest potential. A standard that Lemp lives by is “Don’t fear failure, expect it.”

What does this mean? Many people will tell you that success is ‘the opposite of failure’, but Lemp views success as ‘the result of failure.’ He sees every failure as the greatest opportunities, and believes that you can’t experience a major breakthrough if you aren’t willing to take the risks.

This mindset of embracing fast failures has been the basis of Revcontent’s rapid growth. According to Quantcast, Revcontent is now the largest content recommendation network in the world in terms of reach.

“I make dozens of mistakes every day, and I actually look forward to these learning opportunities,” said Lemp.

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France to Ban All Gas and Diesel Vehicles by 2040

One of French President Emmanuel Macron's more optimistic plans involves making France a carbon neutral country by the year 2050. Achieving that requires some major changes to the way in which energy and transport work in the country.

According to The Independent, France's new environment minister Nicolas Hulot just set out two big pledges with this in mind. The first is for France to stop using coal to produce electricity by 2022, instead replacing the lost production with green alternatives. But the bigger pledge came for the transport sector. France intends to ban all vehicles that run on gasoline or diesel by the year 2040.

 

Fully-electric car production is only now beginning to ramp up with Tesla leading the way. Under the French government's plans, car manufacturers have just over 22 years left to fully embrace electric or clean burning fuel vehicles such as Toyota's hydrogen cars. And let's not forget the infrastructure these cars will require for recharging/refueling and the investment that will take.

Such a ban does pose other problems, too, such as how to deal with millions of cars that will be illegal come 2040. There's also the cost of buying a new car, which inevitably everyone will be forced to do if they want to continue being able to drive. In that regard, Hulot stated there would be financial help for poorer households.

Getting to 2040 without a single gas/diesel vehicle on the road is certainly possible, but only if it is well planned. The remaining 22 years until the proposed ban comes into force needs to be split and demands made on the car industry every few years. If that happens, then France could have only zero emission vehicles on its roads well before the 2040 deadline.


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Microsoft to Cut Thousands of Sales Jobs

Microsoft has confirmed layoffs that could affect up to 3,000 jobs.

"Microsoft is implementing changes to better serve our customers and partners," Microsoft told PCMag. "Today, we are taking steps to notify some employees that their jobs are under consideration or that their positions will be eliminated. Like all companies, we evaluate our business on a regular basis. This can result in increased investment in some places and, from time-to-time, re-deployment in others."

 

CNBC reports that cuts will affect "less than 10 percent of the company's total sales force," or up to 3,000 jobs. About 75 percent of the layoffs will take place overseas, meaning the company is planning to cut up to around 1,000 U.S.-based employees.

CNBC says the layoffs are part of a "major reorganization." This isn't necessarily a cost-cutting measure: Microsoft is reportedly looking to change the way it sells its cloud-service product Azure, sales of which grew 93 percent last quarter.

Going forward, Microsoft plans to "use employees who are more knowledgeable about specific verticals so they can sell bigger packages," the report notes.

Microsoft currently has around 121,000 employees worldwide, including 71,594 in the U.S., according to the company's website. Around 18.5 percent of Microsoft employees are in sales roles.

The latest round of cuts comes after Microsoft last July cut 2,850 employees from its smartphone hardware business and global sales division. Before that, Microsoft in May 2016 laid off 1,850 as it scaled down its smartphone hardware business.


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Tesla Is Making the World's Largest Lithium Ion Battery for Australia

In September last year, Australia was hit by an extreme storm, which managed to knock the power out for the entirety of South Australia. As an idea of how big South Australia is, it's 40 percent larger than Texas and home to 1.7 million people.

The reason for the power outage was the storm's mix of thunderstorm activity, heavy rain and twin tornadoes that saw wind speeds reach 120km/h. Since then, South Australia has experienced repeated blackouts, which grabbed Elon Musk's attention followed by him offering to solve the state's power problem.

 

The solution Musk proposed was of course a rechargeable battery. His offer also came with a guarantee: if it wasn't up-and-running within 100 days of the contract being signed it would be free.

According to the BBC, Australia accepted Musk's offer and now the world's largest lithium-ion battery will be manufactured and installed in South Australia. And it's the largest by some margin.

Currently the record holder is a 30 megawatts battery. Tesla is joining forces with energy company Neoen to install a 100 megawatts battery. The battery will be hooked up to a Neoen wind farm and be available 24/7 to kick in when there's a power emergency.

According to Jay Weatherill, current Premier of South Australia, "It will completely transform the way in which renewable energy is stored, and also stabilise the South Australian network as well as putting downward pressure on prices."

If he's right, then this is great publicity for Tesla and could trigger other governments around the world to more quickly embrace huge batteries to support their power networks.


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EU Considers Another Massive Fine for Google Over Android

The European Union and Google aren't the best of friends right now. Late last month, the European Commission issued its largest ever fine, demanding $2.7 billion from Google along with a change to its shopping comparison practices. Google, of course, is determined to appeal the decision and fine.

According to Reuters, that fine may soon look small if EU antitrust regulators decide to punish Google over its anti-competitive practices with regards to Android.

 

Following a complaint by lobby group FairSearch, the European Commission charged Google last year with shutting out rivals on Android. More specifically, the practice of requiring smartphone manufacturers to pre-install Google Search and the Chrome web browser. If that isn't done, Google may choose to lock those devices out of other services such as Google Play. The Commission is also not happy with Google paying to ensure Google Search is the default on devices.

Before the potentially huge fine can be agreed upon, a panel of experts has been set up and asked to review the case. This will form a second opinion and help guide the Commission not only on the size of the fine, but also what action Google is required to take going forward.

It's those actions that could end up being the most damaging for Google. They could include allowing a choice of default search, the ability to install alternative app stores meaning Google Play is no longer guaranteed on the majority of devices, and similar rules for other Google-owned services that you typically find on new Android phones and tablets.


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