tag:blogger.com,1999:blog-88021701250639642812024-03-12T22:15:16.490-04:00Jack Spain's BlogExecutive Matchmaker, Business Broker, Business Coach, & Author with background in innovative technology solutions.Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.comBlogger43125tag:blogger.com,1999:blog-8802170125063964281.post-47338055567968722052013-02-12T09:49:00.000-05:002013-02-14T14:59:56.588-05:00Introducing New Book, “A Prescription for SMART Growth for Small to Mid-Size Businesses”<br />
<div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;">
<span style="font-family: Calibri;">I am pleased to finally announce that my second book, <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">“A
Prescription for SMART Growth for Small to Mid-Size Businesses”</i></b>, is now
available on Amazon in </span><a href="http://www.amazon.com/Prescription-SMART-Growth-Mid-Size-Businesses/dp/0615711103/"><span style="color: blue; font-family: Calibri;">paperback</span></a><span style="font-family: Calibri;"> and
Kindle </span><a href="http://www.amazon.com/Prescription-Growth-Mid-Size-Businesses-ebook/dp/B00BBOC8B8/"><span style="color: blue; font-family: Calibri;">e-book</span></a><span style="font-family: Calibri;">
formats. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;">
<span style="font-family: Calibri;">The genesis for this book stemmed from an initiative from
our local entrepreneurial support organization, </span><a href="http://www.cednc.org/"><span style="color: blue; font-family: Calibri;">CED</span></a><span style="font-family: Calibri;">, who challenged members to submit a Tweet to their “<b style="mso-bidi-font-weight: normal;">Start Something, the CED Blog</b>” </span><a href="http://blog.cednc.org/2010_10_01_archive.html"><span style="color: blue; font-family: Calibri;">Twitter Contest</span></a><span style="font-family: Calibri;">. I created a </span><a href="http://spaintechnovative.blogspot.com/2010/09/formula-for-smart-growth-for-technology.html"><span style="color: blue; font-family: Calibri;">Blog Post</span></a><span style="font-family: Calibri;"> on
30-Sep-2010 that included my recommendations for the <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">right strategies and tactics to
grow a business</i></b> based on my experience over the past several decades
and submitted my </span><a href="https://twitter.com/jackspain/status/25998577991"><span style="color: blue; font-family: Calibri;">tweet</span></a><span style="font-family: Calibri;">. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;">
<span style="font-family: Calibri;"><i style="mso-bidi-font-style: normal;">“A Prescription for SMART Growth for
Small to Mid-Size Businesses”</i><b style="mso-bidi-font-weight: normal;"> </b>describes several
fundamental characteristics that position businesses to transition from a
start-up phase into a successful mid-size business. The key elements of this
model include leading a business that is <i style="mso-bidi-font-style: normal;">Strategy</i>-based,
<i style="mso-bidi-font-style: normal;">Market</i>-based, <i style="mso-bidi-font-style: normal;">Alignment</i>-based, <i style="mso-bidi-font-style: normal;">ROI</i>-based,
and <i style="mso-bidi-font-style: normal;">Technology</i>-based. The model also
incorporates fifteen additional building blocks that require appropriate
emphasis at the right time to grow your business successfully along with ten
potential impediments that are illustrated that can potentially derail your
growth trajectory while you are building your business. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;">
<span style="font-family: Calibri;">Once I completed my blog post, it occurred to me that I
had a decent outline for another book. The obvious challenge for most authors is
where do you find (or make) the time to allocate the many hundreds of hours to
actually conduct the research and pen your advice and guidance. Well, two and
one-half years later, that included many weekends, evenings, vacations, and
holidays, I was able to finally complete and publish this book. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;">
<span style="font-family: Calibri;">My professional colleague and friend </span><a href="http://www.chrisduke.com/"><span style="color: blue; font-family: Calibri;">Chris Duke</span></a><span style="font-family: Calibri;"> of </span><a href="http://www.annasgourmetgoodies.com/"><i style="mso-bidi-font-style: normal;"><span style="color: blue; font-family: Calibri;">Anna’s Gourmet
Goodies</span></i></a><span style="font-family: Calibri;"> provided me with creative
direction and tremendous support over the past six months. I am also very
appreciative of several colleagues who invested the time to read my manuscript
and provide me with extremely valuable and constructive feedback. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;">
<span style="font-family: Calibri;">For anyone interested in taking a peek at this book,
you can visit my </span><a href="http://www.smartgrowthsmb.com/"><b style="mso-bidi-font-weight: normal;"><span style="color: blue; font-family: Calibri;">SMART Growth
for SMBs website</span></b></a><span style="font-family: Calibri;">, my </span><a href="http://www.amazon.com/Jack-Spain/e/B00B82QBDO/"><span style="color: blue; font-family: Calibri;">Amazon Author page</span></a><span style="font-family: Calibri;">, or the
pages for the </span><a href="http://www.amazon.com/Prescription-SMART-Growth-Mid-Size-Businesses/dp/0615711103/"><span style="color: blue; font-family: Calibri;">paperback</span></a><span style="font-family: Calibri;"> and </span><a href="http://www.amazon.com/Prescription-Growth-Mid-Size-Businesses-ebook/dp/B00BBOC8B8/"><span style="color: blue; font-family: Calibri;">e-book</span></a><span style="font-family: Calibri;">
formats. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;">
<span style="font-family: "Calibri","sans-serif"; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Of course, if you are inclined to
read this book I welcome your feedback via an <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">Amazon Customer Review</i></b>.
Thank you for your friendship and support. I have already developed an outline
for my next book and hope that I will be able to announce it before 2015.</span></div>
Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com2tag:blogger.com,1999:blog-8802170125063964281.post-1555896938884427482011-12-31T09:31:00.000-05:002011-12-31T09:31:17.525-05:00The American Dream (Revisited): Part III<div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><span style="font-family: Calibri;">As we close out a very interesting, unique, and challenging year for many Americans, I thought it was appropriate to post another update on my reflections on “<i style="mso-bidi-font-style: normal;">The American Dream”</i>. Last fall, I outlined a set of expectations that I had when I launched my professional career several decades ago in my first posting on this topic. At that time I had the impression that: </span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><br />
</div><ol><li><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in; mso-list: l1 level1 lfo1;"><span style="mso-list: Ignore;"><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span><span style="font-family: Calibri;">I could submit a resume and cover letter for an open position and someone would contact me on a timely basis if they believe I was a qualified candidate and were interested in scheduling an interview with me.</span></div></li>
<li><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in; mso-list: l1 level1 lfo1;"><span style="mso-list: Ignore;"><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span><span style="font-family: Calibri;">I would have an opportunity to enter into a mutually beneficial “contract with Corporate America”.</span></div></li>
<li><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in; mso-list: l1 level1 lfo1;"><span style="mso-list: Ignore;"><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span><span style="font-family: Calibri;">The investments I would eventually make in real estate would ultimately be my golden nest egg for my retirement.</span></div></li>
<li><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in; mso-list: l1 level1 lfo1;"><span style="mso-list: Ignore;"><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span><span style="font-family: Calibri;">My children would be able to embark on their own careers in their early 20s after earning a college degree.</span></div></li>
<li><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in; mso-list: l1 level1 lfo1;"><span style="mso-list: Ignore;"><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span><span style="font-family: Calibri;">I could look forward to transitioning from working full-time into retirement and recreation when I reached my mid to late-60s.</span></div></li>
</ol><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><span style="font-family: Calibri;">During the past year I have been contemplating this subject and have had to reset my expectations regarding career opportunities for professionals with decades of valuable business experience. As I argued in the first two postings, “</span><a href="http://spaintechnovative.blogspot.com/2011/09/american-dream-revisited-reflections-on.html"><span style="color: blue; font-family: Calibri;">The American Dream (Revisited): Reflections on Labor Day 2011</span></a><span style="font-family: Calibri;">” and </span><a href="http://spaintechnovative.blogspot.com/2011/12/american-dream-revisited-part-ii.html"><span style="color: blue; font-family: Calibri;">The American Dream (Revisited): Part II</span></a><span style="font-family: Calibri;">; I think that is imperative that each of us take control over our destiny from a career perspective. </span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Reclaim control of your destiny<o:p></o:p></span></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><span style="font-family: Calibri;">While the jobs outlook for 2012 appears to show some dim signs of improvement; the uncertainties of the US and European economies continues to present us with considerable uncertainly. I have already presented my case for entrepreneurial business opportunities in my previous posts and feel even more convinced at this time that entrepreneurs and small businesses will provide the requisite leadership for stronger economic times. As I have stated in the past…</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><span style="font-family: Calibri;"><b style="mso-bidi-font-weight: normal;">NOW IS THE TIME to take control of your own professional career destiny</b>. Embrace the reality that you do have multiple career options and that you are ultimately empowered and accountable to make your own career decisions. While you are waiting for the phone to ring or for an email from a recruiter or hiring manager – I challenge you investigate options to fulfill your own dreams and aspirations through launching your own entrepreneurial business venture. </span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><span style="font-family: Calibri;"><b style="mso-bidi-font-weight: normal;">NOW IS THE TIME</b> <b style="mso-bidi-font-weight: normal;">to evaluate launching your own new business</b>; engaging in an early stage business; or investigating launching a proven business with a franchise, distributorship, affiliate, or licensing business model. Recall that there are numerous examples of successful companies today that were launched during a recession including Apple, Microsoft, HP, Trader Joe’s, Disney, CNN, FedEx, IBM, and GE to name a handful. Each of these corporations started as a small business. </span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-align: justify; text-indent: 0in;"><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">Included below are several dozen recent references as evidence of the new realities that executives are facing in the current decade. <o:p></o:p></span></i></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="color: #002060; font-size: 14pt; mso-bidi-font-size: 11.0pt;"><span style="font-family: Calibri;">Reality Check on the American Workplace in 2011<o:p></o:p></span></span></i></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 11pt;"><span style="font-family: Calibri;">Unemployment and Underemployment in the US<o:p></o:p></span></span></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“The U.S. unemployment rate took a big tumble in November, from 9 percent to 8.6 percent, according to the government's monthly jobs data. Still, it's probably too soon pop the champagne corks. A combination of forces caused the big drop, some good and some bad. … Diane Swonk, chief economist at Mesirow Financial in Chicago, says the president might be playing it down because there's another reason the rate fell so much: 315,000 people gave up looking for work.” <sup>2</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Corporate financial executives aren’t filled with Christmas cheer about the state of the economy and remain Scrooge-like when it comes to hiring and investment. So reports the </span><a href="http://www.aicpa.org/"><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><span style="color: blue;">American Institute of Certified Public Accountants</span></span></a><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> in its quarterly “Economic Outlook Survey” of chief financial officers and other corporate finance executives…. With a mediocre score (50 indicates neutral), the AICPA concludes that the news isn’t really that good for people seeking work. “We saw improvements in every category of the index, including sentiment about prospects for the U.S. economy,” said Carol Scott, AICPA vice president for business, industry and government, in a statement. “However, serious concerns about the business climate remain, reflected by continued reticence for new investment and hiring,” she added…. “Fifty percent said their organizations do not plan to return to pre-recession employment levels for at least 12 months, and a third do not expect to reach that level again in the foreseeable future,” the AICPA said. “Yet one in four respondents reported their companies have too few employees, but remain reluctant to hire because of economic uncertainty.” <sup>3</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 27pt; mso-add-space: auto; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Citigroup will lay off roughly 4,500 employees over the next few months, CEO Vikram Pandit said Tuesday, as Wall Street continues to bleed jobs amid tough economic times.” <sup>4</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“The financial services industry has lost more than 200,000 jobs globally this year, according to data compiled by Bloomberg. Bank of America alone has announced plans to cut 30,000 employees over the next several years.” <sup>4</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Drugmaker AstraZeneca will cut roughly 24% of its </span><a href="http://content.usatoday.com/topics/topic/U.S" title="More news, photos about U.S."><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><span style="color: blue;">U.S.</span></span></a><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> sales force in an effort to curb costs, part of a company-wide restructuring announced in 2010. The British company said Wednesday that it will cut 1,150 employees, including sales representatives and managers. It employs 14,000 people in North America, with most of those working in the United States. Wednesday's announced layoffs are in addition to 400 cuts in AstraZeneca's (AZN) U.S. commercial business laid out in October.” <sup>5</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“McAfee Inc. has laid off approximately 250 employees, or 3 percent of its work force, according to a Thomson Reuters story on Tuesday.” <sup>6</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“[<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">The good news</i></b>:] The unemployment rate fell to 8.6 percent in November, the government said last week, down from 9 percent the previous month. That's the lowest rate in two and a half years. [<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">The bad news:</i></b>] Still, the unemployment rate dropped last month in part because more people gave up looking for work. Once the unemployed stop looking for jobs and drop out of the work force, they are no longer counted as unemployed.” <sup>7</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“The median forecast of economists is for scarcely any decrease in the unemployment rate over the next two years.” <sup>9</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Remember, the unemployment rate is calculated by adding up all the people who tell government surveyors that they can’t find work and dividing it by all the people in the labor force—those either employed or actively looking. So if people give up searching, they’re no longer counted as unemployed, and the rate falls. <b style="mso-bidi-font-weight: normal;">In November about two-thirds of the improvement in the jobless rate came from people dropping out of the labor force and thus out of the calculation of the unemployed</b>. Only one-third was because of actual job creation.” <sup>9</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Two-thirds of chief executives of the largest U.S. companies say they don't plan to increase hiring or will cut staff in the next six months, mainly because of sluggish growth in the United States and financial turmoil in Europe. The Business Roundtable said Wednesday that about one-third of its member CEOs expect to add employees and spend more on large equipment in the next six months. That's little changed from three months ago. More than 40% plan to keep their work forces steady. About a quarter expect to cut jobs.” <sup>11</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Nearly 8.8 million workers in America's 100 major metropolitan areas are currently unemployed. That's an increase of almost 5 million people from the lowest levels of unemployment recorded in those same metros during the past decade, according to an On Numbers analysis of U.S. Bureau of Labor Statistics data. The study compared raw unemployment totals for each October since 2001. Adding the lowest figures for the 100 metros yields a total of 3.85 million unemployed workers. The present number is 128 percent higher.” <sup>22</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Just nine states and the District of Columbia managed to add jobs during the past half-decade. The other 41 states currently have smaller employment bases than they did at the end of 2006, according to an On Numbers breakdown of data from the U.S. Bureau of Labor Statistics. The study predates the recession, which officially began in December 2007.” <sup>25</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Fewer than one quarter of hiring managers plan to take on new employees in 2012, although small businesses are more inclined to hire in 2012 versus last year, a new hiring survey forecast from job site CareerBuilder finds. Of the more than 3,000 human resource and hiring professionals surveyed, 23 percent said they’ll add full-time, permanent staff in 2012, down a notch from the 24 percent who said they planned to do so in 2011, according to CareerBuilder’s 2012 U.S. Job Forecast released today. Seven percent expect to slash head count in 2012, the same as for 2011, and an improvement from 9 percent for 2010. Fifty-nine percent anticipate no change in their staff levels, while 11 percent reported being unsure.” <sup>30</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Morgan Stanley will slash 580 jobs in New York as part of a broader wave of layoffs underway at the bank, according to a public filing. Earlier this month, Morgan Stanley said it would cut 1,600 jobs, or 2.6 percent of its work force, by the first quarter of 2012. The bank plans to spread the round of reductions across all divisions, including investment banking and trading. The layoffs at Morgan Stanley are the latest round of severe cutbacks on Wall Street, which has suffered a year of humbling returns and enormous cost-cutting. Citigroup recently announced it would shed 4,500 jobs. Bank of America and Goldman Sachs have also begun carrying out major staff reductions. In June, Goldman told the New York Department of Labor that it would layoff 230 New York workers through March 2012.” <sup>32</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“3M Co. offered early retirement to about 4,900 U.S. employees to cut costs as electronics-related sales slow, marking the company’s first workforce reduction since 2009. The St. Paul, Minnesota-based maker of Scotch-Brite sponges, Nexcare thermometers and Novec electronic coatings, expects about 1,000 workers to accept the offer, said Jacqueline Berry, a 3M spokeswoman. <span style="mso-spacerun: yes;"> </span>… The company cut its workforce by about 5,800 people in 2008 and 2009 amid the deepest U.S. recession since the 1930s. An additional 700 workers left under an early-retirement offer in 2009, Berry said.” <sup>33</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“U.S. agribusiness hulk Cargill Incsaid it would let go of 2,000 of the employees globally, citing the single after another diseased tellurian economy. Minneapolis-based Cargill, the single of the world’s largest secretly hold corporations, pronounced the pursuit cuts start 1.5 percent of the workforce of 138,000 employees located in 63 countries as well as will take place over the subsequent 6 months.” <sup>34</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Living the American Dream with the Contract with Corporate America (Revisited)<o:p></o:p></span></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Worse for workers, Silvia says, companies are getting better at expanding output without hiring. “We’re adding a lot more capital than labor to produce, and we’re changing what we produce,” he says. “That’s a challenge for our society”. <sup>9</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“It’s that time of year. The stockings are hung by the chimney with care, and year-end reviews salary negotiations are upon us at work. But with many workplaces facing the prospect of new salary freezes for existing employees, the prospects of significant raises are once again gloomy for 2012. What’s more, many workers feel uneasy making big-ticket demands of management in an environment still recovering from layoffs, meaning they leave reviews feeling uncompensated and even dejected. So much for holiday spirit!” <sup>28</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Living the American Dream by Finding the right Corporate Job (Revisited)<o:p></o:p></span></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Despite high unemployment rates, an estimated 21 million Americans are planning to change jobs in the next twelve months, according to a new survey conducted by learning and talent management software provider Cornerstone OnDemand (NASDAQ: CSOD) with Harris Interactive. When the cost of employee turnover can be up to 250 percent of the annual salary per exiting employee, U.S. employers who are unprepared can expect a steep price tag of an estimated $2 trillion on employee churn in 2012.” <sup>23</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“A Careerbuilder<span style="mso-spacerun: yes;"> </span>.. survey of hiring executives finds 23 percent of U.S. companies plan to hire full-time employees in 2012, little changed from its 2011 forecast. … Companies also reported an increase in voluntary turnover in 2011, with 34 percent saying employees left to pursue other opportunities, seeking higher salaries and a lighter workload. Thirty percent of employers say they lost top performers to other organizations in 2011 and 43 percent are concerned top talent may jump ship in the New Year.” <sup>29</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Living the American Dream through Home Ownership (Revisited) <o:p></o:p></span></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Household wealth in the U.S. fell from July through September for a second straight quarter as the European debt crisis depressed stocks and home values decreased.” <sup>8</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">”Here are the 13 worst home markets in the U.S. based on the <i>percentage of decline in home value for 2011: </i>Las Vegas, NV: -15.2%; Boise, ID: -13.4%; Phoenix, AZ: -13.0%; Tucson, AZ: -11.1%; Orlando: -10.9%; Fresno, CA: -9.9%; Sacramento: -9.3%; Bakersfield, CA: -8.5%; Atlanta, GA: -8.5%; West Palm Beach, FL: -8.5%; Stockton, CA: -8.2%; Jacksonville, FL: -7.7%; Tacoma, WA: -7.4%.” <sup>16</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Across America, recession-fueled foreclosures and plummeting home values have left countless properties abandoned and vulnerable to looting. As Scott Pelley reports, the problem has gotten so bad in Cleveland, Ohio, that county officials have demolished more than 1,000 homes this year - and plan to demolish 20,000 more - rather than let the blight spread and render nearby homes worthless. Chances are the home you're in isn't worth what it used to be. You may not have indulged in the real estate bubble with its liar's loans and Wall Street greed, but you were stuck with the bill. Home values have dropped so far, so fast, that nearly 25 percent of mortgage holders today owe more than their house is worth. And with unemployment so high, so long, many face foreclosure. If you thought your home value couldn't drop any more, have a look up and down the block. You might say, "There goes the neighborhood." The new threat from the great recession is the sudden surge in the number of abandoned houses. Vacant homes have become so ruinous to some neighborhoods that one city, Cleveland, decided it had to find a solution.” <sup>20</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Americans bought slightly more new homes in November, but 2011 will likely end up as the worst year for sales in history. The Commerce Department says new-home sales rose 1.6 percent last month to a seasonally adjusted annual rate of 315,000. That's less than half the 700,000 new homes that economists say should be sold to sustain a healthy housing market. It's also below the 323,000 homes sold last year — the worst year for sales on records dating back to 1963. New homes account for just a fraction of the housing market, but they have a big impact on the economy. Each new home built creates roughly three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.” <sup>21</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><span style="font-family: Calibri;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 11pt;">Living the American Dream through Retirement (Revisited)</span></b><span style="font-size: 11pt;"><o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“An increasing number of people ages 50 and up are headed to community college — 388,000 were enrolled nationwide in fall 2009, the most recent data available from the American Association of Community Colleges (AACC). That was up 6% from 2007 and more than 12% from 2005. Nationwide, people over the age of 50 typically make up between 5%-6% of community college enrollment, according to AACC figures.” <sup>13</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“For many Baby Boomers and the generations that follow, 65 won't be retirement age. It will just be another year of work for those who have a job, and a diminished lifestyle for many of those who don't. Even now, the oldest members of the Boomer generation (those born in the 19-year span of 1946-64) can't collect their full Social Security benefit until they're 66; the cutoff for full benefits was bumped up from 65 as a result of the last attempt to fix Social Security, in 1999. Proposals to cut the federal deficit eventually could push the age for full benefits to 69.” <sup>14</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“At 100, Dr. Fred Goldman still makes house calls. ‘If they're sick and can't leave home,’ he said, ‘I go to see them.’ … ‘Work is life,’ he said. ‘I work on demand. … Fortunately, the demand exists. I feel I can still be helpful to people.’ He has not changed his approach to caring for his patients since he entered private practice in 1946.” <sup>15</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraph" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“The number of older Americans who choose to work later and later in life is growing. According to the U.S. Bureau of Labor Statistics, 1.2 million Americans age 75 or older were working last year, up from 787,000 in 2001.” <sup>24</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="color: #002060; font-size: 14pt; mso-bidi-font-size: 11.0pt;"><span style="font-family: Calibri;">Reality Check on the Prospective Business Opportunities in 2011<o:p></o:p></span></span></i></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 11pt;"><span style="font-family: Calibri;">Importance of Entrepreneurs and Small and Medium-sized Enterprises in the US<o:p></o:p></span></span></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“The young may have good ideas, but there is no substitute for experience. You aren’t born with the management, marketing and finance skills necessary to turn ideas into successful ventures. … We learned that the average and median age of successful founders was 39. Twice as many founders were older than 50 as were younger than 25. And there were twice as many over 60 as under 20.” <sup>1</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 27pt; mso-add-space: auto; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“In less than a decade, as employees “bring their own technology” with them, the workplace will shift to wherever an employee is located, according to initial findings from CoreNet Global’s comprehensive and futuristic look at the workplace, <i style="mso-bidi-font-style: normal;">Corporate Real Estate 2020</i>. The wide-ranging study sheds light on how technology is radically changing the nature of work and even transcending science fiction.” <sup>10</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 27pt; mso-add-space: auto; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“A big reason for the fresh optimism is a pickup in small-business hiring. In November, small-firm owners increased employment slightly for the first time in five months, according to a survey by the National Federation of Independent Business (NFIB). Small businesses also accounted for more than half of the 206,000 jump in private employment last month reported by payroll processor ADP. Many of those firms are start-ups, says Diane Swonk, chief economist of Mesirow Financial.” <sup>12</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“An overwhelming 92% of executives think that business travel is failing to improve, with almost half saying it is getting worse or even much worse, according to a survey by ON24, a web casting and virtual event firm. … ‘In today’s digital age, professionals increasingly prefer virtual events and webcasts to traveling to in-person events. Virtual event attendees can consume content conveniently and efficiently wherever they are — at their desks, on their laptops or with any mobile device. With virtual communication, there are no logistical barriers interfering with getting the information you need.’” <sup>17</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“In the past three years, the ability and willingness of Americans to move across town or to another state have fallen to their lowest level in more than half a century. An NPR/Kaiser Family Foundation survey examined mobility among the long-term unemployed and underemployed. Of those two groups combined, 40 percent said they would be willing to move to another state to find a job.” <sup>18</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“The Startup America Partnership, a private initiative geared to encourage the formation of fast-growing new businesses, is kicking into high gear. The group, chaired by AOL founder Steve Case and led by CEO Scott Case (no relation), held the first </span><a href="http://www.portfolio.com/business-news/2011/12/08/startup-america-holds-first-board-meeting" target="_blank"><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><span style="color: blue;">meeting</span></span></a><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"> of its all-star board last week and announced it had garnered the promises of services worth nearly $1.2 billion for emerging businesses from more established companies.<span style="mso-spacerun: yes;"> </span>… ‘The next big push is to make the startups aware that the partnership exists and has resources to help them,” he said. “We have a goal of getting to 100,000 startups in a very rapid pace.’” <sup>19</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“After three years of Scrooge-like underwriting following 2008's financial crisis, banks have turned on the spigot, boosting lending at annual rates as high as 8.2% since July, according to Federal Reserve statistics. Lending had fallen from mid-2008 through this year's second quarter, deepening what became the worst recession since the Great Depression. The data seem to allay fears that making banks keep more capital on their books as a cushion against future downturns and loan losses will take away the cash flow businesses need to keep the recovery moving. Among the reasons: The economy is improving, while smaller banks have positioned themselves to pick up slack left as bigger banks remain cautious, says Stuart Hoffman, chief economist at Pittsburgh-based PNC Financial.” <sup>26</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“The sharpest improvement has come in business lending, raising hopes that it can spur increased capital investment, the seed corn of business expansions. Commercial and industrial loans grew at an annualized pace of more than 20% in August and more than 15% in October, the best growth since early 2008.” <sup>26</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“I do know one thing for sure: it isn’t the big companies that create the jobs or the revolutionary technology innovations: it is startups. ” <sup>27</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Kauffman Foundation has done extensive research on job creation. Kauffman Senior Fellow Tim Kane analyzed a new data set from the U.S. government, called Business Dynamics Statistics, which provides details about the age and employment of businesses started in the U.S. since 1977. What this showed was that startups aren’t just an important contributor to job growth: they’re the only thing. <b style="mso-bidi-font-weight: normal;">Without startups, there would be no net job growth in the U.S. economy</b>. From 1977 to 2005, existing companies were net job destroyers, losing 1 million net jobs per year. In contrast, new businesses in their first year added an average of 3 million jobs annually. When analyzed by company age, the data are even more startling. Gross job creation at startups averaged more than 3 million jobs per year during 1992–2005, four times as high as any other yearly age group. Existing firms in all year groups have gross job losses that are larger than gross job gains.” <sup>27</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“If there was a bright note, it was with small businesses, which had more swagger for next year when it came to hiring new employees and retaining those already on staff. Among businesses with 50 or fewer employees, 16 percent plan to add staff, an increase from 15 percent that said the same last year. For businesses with up to 250 employees, 20 percent planned to add full-time, permanent staff, up from 19 percent last year. For those with 500 or fewer employees, 21 percent expected to add more in 2012, which was the same as last year, but those reducing head count fell from 6 percent to 4 percent.” <sup>30</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Entrepreneurship is a serious career path right now” <sup>31</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Characteristics of entrepreneurs: “(1) Look for ways to make a difference; (2) Follow that overwhelming desire to take action; (3) Exert your influence as much as possible; (4) Help other would-be entrepreneurs.” <sup>35</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Small business remains critical to the economy with the progress and success of entrepreneurs still a keenly watched metric. With the ongoing economic recovery and health of the current economy at stake, the health of small businesses will remain important for the foreseeable future” <sup>36</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.5in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 11pt;"><span style="font-family: Calibri;">Franchise Business Opportunities<o:p></o:p></span></span></b></div><div class="MsoNormal" style="margin: 0in 0in 0pt 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“Nurse Next Door, a Canadian home health care provider, is fielding 100 inquiries a month from prospective franchisees in the USA, up from 20 last spring.” <sup>12</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.25in; mso-add-space: auto; mso-list: l0 level1 lfo2;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">“</span><span lang="EN" style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ansi-language: EN; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Franchised businesses provide about the same number of jobs in the U.S. as the manufacturers of durable goods, such as computers, industrial equipment, cars, trucks, and planes. More than 825,000 franchise businesses support nearly 18 million jobs and generate $2.1 trillion of economic output to the U.S. economy.</span><span style="font-family: "Calibri","sans-serif"; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">” <sup>37</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><span style="font-family: Calibri;"><b style="mso-bidi-font-weight: normal;"><span style="color: #002060;">Sources</span></b><b style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 14pt; mso-bidi-font-size: 11.0pt;"><o:p></o:p></span></b></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">1</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.washingtonpost.com/national/on-innovations/the-case-for-old-entrepreneurs/2011/12/02/gIQAulJ3KO_story.html"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">The case for old entrepreneurs</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Vivek Wadhwa, The Washington Post, 02-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">2</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.npr.org/2011/12/03/143081606/behind-unemployment-figure-a-nuanced-outlook?ft=1&f=1001"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Behind Unemployment Figure, A Nuanced Outlook</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, John Ydstie, National Public Radio, 03-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">3</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://wraltechwire.com/business/tech_wire/opinion/blogpost/10467053/"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Bad news for job seekers: Companies aren't looking to hire, survey says</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Rick Smith, WRAL Tech Wire, 06-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">4</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://money.cnn.com/2011/12/06/news/companies/citi_layoffs/?source=cnn_bin"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Citi plans 4,500 layoffs</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, James O-Toole, CNNMoney, 06-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">5</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.usatoday.com/money/industries/health/drugs/story/2011-12-07/Astra-zeneca-layoffs/51708132/1"><span style="font-size: 11pt; mso-bidi-font-weight: bold;"><span style="color: blue; font-family: Calibri;">Drugmaker AstraZeneca to cut 1,150 U.S. employees</span></span></a><span style="font-family: Calibri;"><span style="font-size: 11pt; mso-bidi-font-weight: bold;">, The Associated Press, USA Today, 08-Dec-2011</span><span style="font-size: 11pt;"><o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">6</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.bizjournals.com/sanjose/news/2011/12/07/mcafee-lays-off-250-employers.html?ana=e_pft"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">McAfee lays off 250 employees</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, San Jose Business Journal, 07-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">7</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.npr.org/2011/12/08/143343436/new-jobless-claims-fall-to-9-month-low"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">New Jobless Claims Fall To 9-Month Low</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Associated Press, 08-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">8</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.businessweek.com/news/2011-12-08/household-wealth-in-u-s-falls-for-second-straight-quarter.html"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Household Wealth in U.S. Falls for Second Straight Quarter</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Timothy Homan, Bloomberg Businessweek, 08-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">9</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.businessweek.com/magazine/the-unemployment-rate-drops-but-economists-arent-smiling-12072011.html"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">The Unemployment Rate Drops, but Economists Aren't Smiling</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Peter Coy, Bloomberg Businessweek, 07-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">10</span></sup><span style="font-size: 11pt;"> <span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.techjournalsouth.com/2011/12/workplace-shifting-to-wherever-employee-is-located/"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Workplace shifting to wherever employee is located</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, TechJournal South, 14-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">11</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.usatoday.com/money/economy/employment/story/2011-12-14/CEO-outlook-hiring/51918276/1"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Survey: CEOs foresee no hiring pickup next 6 months</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Christopher Rugaber, Associated Press, 14-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">12</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.usatoday.com/money/economy/story/2011-12-14/economic-optimism-grows-risks-remain/51929126/1"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Economic optimism grows, but risks remain</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Paul Davidson, USA Today, 14-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">13</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.usatoday.com/news/education/story/2011-12-14/baby-boomers-community-college/51929984/1?loc=interstitialskip"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Boomers heading back to community colleges</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Matthew Daneman, USA Today, 14-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">14</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.usatoday.com/money/perfi/retirement/2010-12-07-1Aboomerretire07_CV_N.htm"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Working past 65: Boomers face job challenges in senior years</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, John Waggoner, USA Today, 09-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">15</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://yourlife.usatoday.com/health/healthcare/doctorsnurses/story/2011-12-13/Ohio-doctor-still-treating-patients-at-100/51867280/1?utm_source=dlvr.it&utm_medium=twitter&dlvrit=205764"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Ohio doctor still treating patients at 100</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Cliff Radel, The Cincinnati Enquirer<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">16</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.forbes.com/pictures/mhj45gihj/cities-where-home-prices-are-falling-dangerously/"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">13 Cities Where Home Prices Are Falling Dangerously</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Forbes, Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">17</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.techjournalsouth.com/2011/12/execs-say-business-travel-is-a-pain/"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Execs say business travel is a pain</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, TechJournal South, 16-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">18</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.npr.org/2011/12/15/143727953/willing-to-sacrifice-after-a-long-time-out-of-work"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Willing To Sacrifice After A Long Time Out Of Work</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Wendy Kaufman, NPR, 15-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">19</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.portfolio.com/views/blogs/entrepreneurship/2011/12/16/startup-america-boss-scott-case-looks-for-big-growth?ana=e_pft"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">A Startup for Startups</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Kent Bernhard, Jr., Portfolio.com, 16-Dec-2011 <o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">20</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.cbsnews.com/8301-18560_162-57344513/there-goes-the-neighborhood/?tag=contentMain;cbsCarousel"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">There Goes the Neighborhood</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Scott Pelley, CBS News 60 Minutes, 18-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">21</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.npr.org/2011/12/23/144182078/2011-shaping-up-as-housing-s-worst-year-ever"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">2011 Shaping Up As Worst Year Ever For Home Sales</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, The Associated Press, 23-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">22</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2011/12/5-million-added-to-unemployment-rolls.html?ana=e_pft"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">5 million added to unemployment rolls in major markets</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, G. Scott Thomas, The Business Journals, 23-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">23</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.cornerstoneondemand.com/cornerstone-ondemand-research-suggests-21-million-americans-are-planning-change-jobs-2012"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Cornerstone OnDemand Research Suggests 21 million Americans Are Planning to Change Jobs in 2012, Cornerstone OnDemand Research</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, 02-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">24</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.newsobserver.com/2011/12/24/1730838/working-at-60-try-toiling-at-90.html"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Working at 60? Try toiling at 90</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Zlati Meyer, Detroit Free Press, 24-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">25</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2011/12/nine-states-have-added-jobs-since-2006.html?ana=e_pft"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Nine states have added jobs since 2006, while 41 have slipped</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Scott Thomas, The Business Journals, 26-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">26</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.usatoday.com/money/industries/banking/story/2011-12-26/banks-begin-lending/52234166/1"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Banks boost lending as economy slowly warms up</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Tim Mullaney, USA Today, 27-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">27</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://wadhwa.com/2010/08/14/startups-or-behemoths-which-are-we-going-to-bet-on/"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Startups Or Behemoths: Which Are We Going To Bet On?</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Vivek Wadhwa, 14-Aug-2010<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">28</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.forbes.com/sites/meghancasserly/2011/12/06/small-workplace-asks-big-career-wins/"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Small Workplace Asks, Big Career Wins, Meghan Casserly</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Forbes, 06-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">29</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.bizjournals.com/washington/news/2011/12/28/hiring-outlook-little-changed-for-2012.html?ana=e_pft"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Hiring outlook little changed for 2012</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Jeff Clabaugh, Washington Business Journal, 28-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">30</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.portfolio.com/views/blogs/daily-brief/2011/12/28/career-builder-survey-says-hiring-to-remain-cautious-in-2012?ana=e_pft"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Who, Us Hire?</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Teresa Novellino, Portfolio.com, 28-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">31</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.portfolio.com/business-news/2011/12/30/eric-ries-lean-startup-approach-catches-fire-in-2011/"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">The Biggest Idea of 2011: Think Lean</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Kent Bernhard, Jr., Portfolio.com, 30-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">32</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://dealbook.nytimes.com/2011/12/28/morgan-stanley-to-cut-580-jobs-in-new-york/"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Morgan Stanley to Cut 580 Jobs in New York</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Ben Protess, New York Times, 28-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">33</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://www.businessweek.com/news/2011-12-14/3m-offers-retirement-to-4-900-in-first-u-s-cut-since-2009.html"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">3M Offers Retirement to 4,900 in First U.S. Cut Since 2009</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Thomas Black, Bloomberg Businessweek, 14-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">34</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span></span><a href="http://businessnewstime.com/update-2-cargill-to-cut-2000-jobs-globally"><span style="font-size: 11pt;"><span style="color: blue; font-family: Calibri;">Cargill to cut 2,000 jobs globally</span></span></a><span style="font-size: 11pt;"><span style="font-family: Calibri;">, Business News, 03-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">35</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span><a href="http://www.inc.com/glen-blickenstaff/4-critical-traits-of-an-entrepreneur.html"><span style="color: blue;">4 Critical Traits of an Entrepreneur</span></a>, Glen Bickenstaff; Inc. Magazine, 16-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">36</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span><a href="http://smallbiztrends.com/2011/12/small-business-remains-critical.html"><span style="color: blue;">Small Business Remains Critical</span></a>, Small Business News, 28-Dec-2011<o:p></o:p></span></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt 0.25in;"><span style="font-family: Calibri;"><sup><span style="font-size: 11pt;">37</span></sup><span style="font-size: 11pt;"><span style="mso-tab-count: 1;"> </span></span><span lang="EN" style="font-size: 11pt; mso-ansi-language: EN;"><a href="http://www.franchise.org/Franchise-News-Detail.aspx?id=55468"><span style="color: blue;">New Research Reports Will Forecast Growth of Franchising Industry</span></a>, International Franchise Association, Dec-2011</span><span style="font-size: 11pt;"><o:p></o:p></span></span></div>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-51007215734228835932011-12-02T09:56:00.001-05:002011-12-02T10:12:14.234-05:00The American Dream (Revisited): Part II<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">I outlined a set of expectations that I had when I launched my professional career several decades ago in my first posting on this topic several months ago. At that time I had the impression that:</span><span class="Apple-style-span" style="font-family: Arial, sans-serif;"> </span></div><ol><li><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif;">I could submit a resume and cover letter for an open position and someone would contact me on a timely basis if they are interested in scheduling an interview with me.</span></li>
<li><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif;">I would have an opportunity to enter into a “contract with Corporate America”.</span></li>
<li><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif;">The investments I would eventually make in real estate would be my golden nest egg for my retirement.</span></li>
<li><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif;">My children would be able to embark on their own careers in their early 20s after earning college degrees.</span></li>
<li><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif;">I could look forward to transitioning from working full-time into retirement and recreation when I reached my mid to late-60s.</span></li>
</ol><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: Arial, sans-serif;">During the past year I have been reflecting and resetting my expectations regarding professional career opportunities for many of us who are more senior in our career. As I argued in the first post, “</span><a href="http://spaintechnovative.blogspot.com/2011/09/american-dream-revisited-reflections-on.html"><span style="font-family: "Arial","sans-serif";">The American Dream (Revisited): Reflections on Labor Day 2011</span></a><span style="font-family: Arial, sans-serif;">”, I think that is essential that each of us take control over our destiny from a career perspective.</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
<b><span style="font-family: "Arial","sans-serif";">Reclaim control of your destiny<o:p></o:p></span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
<span style="font-family: "Arial","sans-serif";">I embrace entrepreneurship and the power and influence of small and medium-sized businesses on our economy including delivering the innovations that enable our country to complete on a global basis. Based on my own professional career, I believe that small businesses offer the following advantages versus large corporate enterprises:</span></div><div class="MsoNormal"></div><ul><li><span style="font-family: Arial, sans-serif;">Ability to maintain a long-term, strategic perspective on the overall business versus the distraction of focusing on quarterly earnings targets to appease the often unrealistic expectations of the financial market analysts</span></li>
<li><span style="font-family: Arial, sans-serif;">Ability to stay nimble and agile by anticipating and responding quickly to changes in customer requirements, competitive threats, and economic challenges</span></li>
<li><span style="font-family: Arial, sans-serif;">Ability to continuously focus on exceeding customer’s and your team’s needs versus dealing with distractions of internal political affairs</span></li>
<li><span style="font-family: Arial, sans-serif;">Ability to consistently feel empowered to truly make a difference in the world</span></li>
</ul><span class="Apple-style-span" style="font-family: Arial, sans-serif;">While I have certainly been impacted from the economic challenges over the past few years, I continue to be optimistic and see my glass as </span><i style="font-family: Arial, sans-serif;">half full</i><span class="Apple-style-span" style="font-family: Arial, sans-serif;">. Challenges always create new opportunities and you can take advantage of the current economic environment today by being reflective, resourceful, creative, opportunistic, and capitalizing on vital lessons learned throughout your career.</span><br />
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">While many executives and senior level professionals may be sitting by their phones and checking their email Inbox several times a day praying that a corporate recruiter or human resources representative will contact them with feedback on the last 20 or 200 positions in which they have submitted resumes – other professionals have yielded to their entrepreneur dreams and have decided to take control of their own destiny by evaluating and launching new business ventures. <o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
<b><span style="font-family: "Arial","sans-serif";">NOW IS THE TIME</span></b><span style="font-family: "Arial","sans-serif";"> <b>to evaluate launching your own new business</b>, engaging in an early stage business, or investigating launching a proven business with a franchise, distributorship, affiliate, or licensing business model. Remember that there are numerous examples of successful companies today that were launched during a recession including Apple, Microsoft, HP, Trader Joe’s, Disney, CNN, FedEx, IBM, and GE to name a handful. Each of these corporations started as a small business. <o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
<b><span style="font-family: "Arial","sans-serif";">NOW IS THE TIME to take control of your own professional career destiny</span></b><span style="font-family: "Arial","sans-serif";">. Embrace the reality that you do have career options and that you are ultimately empowered to make your own career decisions. While you are waiting for the phone to ring or for an email from a recruiter or hiring manager – I challenge you investigate options to fulfill your own dreams and aspirations through launching your own entrepreneurial business venture. <o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
<i><span style="font-family: "Arial","sans-serif";">Included below are several dozen additional references as evidence of the new realities that executives are facing in the current decade. <o:p></o:p></span></i></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
<b><i><span style="color: #002060; font-family: "Arial","sans-serif";">Reality Check on the American Workplace in 2011<o:p></o:p></span></i></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
<b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Unemployment and Underemployment in the US<o:p></o:p></span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l1 level1 lfo4; text-indent: -13.5pt;"><span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Bank of America ... on Tuesday began the first phase of a massive layoff by handing out pink slips to an undisclosed number of employees in Charlotte. … The bank previously said it would <b>cut 30,000 jobs companywide by the end of next year</b> as it trims expenses and tries to improve its performance. It’s part of Project New BAC, Chief Executive Brian Moynihan’s efficiency initiative. The current phase of the project focused on the bank’s consumer-banking and support divisions. A second phase next year will focus on the investment-banking and capital-markets divisions. BofA hopes to slash $5 billion in annual expenses by 2013.” 3<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l1 level1 lfo4; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"></span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Nokia Siemens Networks is slashing 17,000 jobs worldwide by 2013 — nearly 23 percent of its work force — as it strives to cut costs by euro1 billion ($1.35 billion). The world's No. 2 mobile infrastructure maker said Wednesday the measures are part of major restructuring to make the company more flexible and efficient as it struggles against new Asian rivals.” <sup>8</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"></span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Employers shed more jobs nationally through the first 11 months of this year than they did in all of 2010, according to global outplacement firm Challenger, Gray & Christmas Inc. With one month remaining in 2011, job cuts for the year total 564,297, officially surpassing the 2010 year-end total of 529,973. The 11-month total is 13 percent higher than the 497,969 job cuts announced over the same period a year ago, CG&C said.” <sup>36</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"></span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Fewer U.S. companies expect to hire new workers in coming months, as business economists grow increasingly pessimistic about the overall economy’s growth in the coming year.” <sup>26</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l1 level1 lfo4; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"></span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Private-sector employment fell 5.2 percent during the first two years of the economic slowdown.” <sup>9</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l1 level1 lfo4; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"></span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Private-sector employment fell 4.2 percent in the Raleigh-Cary metropolitan statistical area during roughly the first couple years of the economic slowdown, according to federal data crunched by American City Business Journals.” <sup>10</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"></span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“North Carolina has 290,200 fewer jobs than it did four years ago, before the Great Recession began” <sup>27</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"></span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“The recession officially arrived in late 2007, but the manufacturing sector has endured recessionary conditions for much longer than that. U.S. manufacturing employment dropped every single year between 1997 and 2009, resulting in a net loss of nearly 6 million jobs. A weak recovery during the past two years has restored a tiny fraction of those positions, just 231,000 in all. The impact of this long-range downward trend is evident in the nation's 100 biggest markets. Ninety-nine have suffered net declines in manufacturing employment since the beginning of the recession.” 31<o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"></span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“The number of unemployed workers in America's major metropolitan areas has doubled since the recession began in 2007. A total of 9.04 million persons in the nation's 100 biggest markets were on unemployment as of September 2011, the latest month for which official figures are available. That was 99.8 percent higher than the 4.52 million unemployed workers in those same metros in September 2007.” <sup>32</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Businesses in America's 100 biggest markets have reduced their workforces by 4.5 million employees since the onset of the recession in 2007.” <sup>33</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Living the American Dream with the Contract with Corporate America (Revisited)<o:p></o:p></span></b></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Globoforce ,a provider of SaaS-based employee recognition solutions, says its latest Workforce Mood Tracker shows that more than a third of U.S. workers feel under appreciated and are looking for new jobs despite the state of the economy.” <sup>19</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“According to the September 2011 survey, nearly half of all surveyed said they would leave their current job for a company that clearly recognized employees for their efforts and contributions.” <sup>19</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Seventy-one percent of American workers are "not engaged" or "actively disengaged" in their work, meaning they are emotionally disconnected from their workplaces and are less likely to be productive. That leaves nearly one-third of American workers who are "engaged," or involved in and enthusiastic about their work and contributing to their organizations in a positive manner. This trend remained relatively stable throughout 2011.” <sup>35</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Living the American Dream by Finding the right Corporate Job (Revisited)<o:p></o:p></span></b></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“GE to accept 6,000 applications for 480 jobs”. <sup>15</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“…older workers are losing their jobs at a faster rate than the overall labor force; and joblessness for them has more than doubled since the recession began almost four years ago, according to the Bureau of Labor Statistics. And the longer they are out of work, the harder it is for people over 55 to find something new. Government figures for August showed that younger job seekers had been without work for nine months on average; for older workers, the duration was roughly a year. "It's always been harder for older workers to find jobs, but it's much more difficult now," says Sara Rix, senior strategic policy adviser at AARP. Many think they may never work again. Given the choice, older workers have been opting since the 1980s to delay retirement, either for financial reasons or because they like working. But downsizing and layoffs are forcing scads of them into retirement before they are ready.” <sup>22</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“An unprecedented rise in the number of Millennials struggling to find work has taken place between 2008 and 2009, the International Labor Organization report states, rising 4.5 million in that time. The global total is now at 75 million, with an unemployment rate of 12.7 percent.” <sup>24</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpLast" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Living the American Dream through Home Ownership (Revisited) <o:p></o:p></span></b></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Facing these burdens, the American Dream is undergoing stark changes, with fewer people choosing to buy homes and more young people postponing their own independent lives. The census data showed about 14.2% of all young people ages 25 to 34 are still living in their parents' homes this year, compared to about 11.8% before the recession began in 2007.” <sup>13</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“The home-buying season was a bust. March through August are typically the peak buying months. But this time, Americans bought fewer new homes in that stretch than in any other six-month period since record-keeping began a half-century ago. And sales of previously occupied homes didn't fare much better. They nearly matched 2009's total for the peak buying months. And that was the worst since 1997. Combined, total sales this spring and summer were the weakest on records dating to 1963. The figures underscore how badly the housing market is faring and suggest that a recovery is years away” <sup>14</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Living the American Dream through Retirement (Revisited)</span></b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l1 level1 lfo4; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Eighty is the new 65… Americans are prepared to work longer in order to save enough for retirement, according to a survey by Wells Fargo & Co. About 74 percent expect to work in retirement, according to the survey, with about 39 percent working because they’ll need to and 35 percent because they want to. And 25 percent of those surveyed said they expect they’ll need to work until at least age 80 because they don’t have sufficient savings.” <sup>4</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l1 level1 lfo4; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“A quarter of middle-class Americans are now so pessimistic about their savings that they are planning to delay retirement until they are at least 80 years old -- two years longer than the average person is even expected to live. It sounds depressing, but for many it's a necessity. On average, Americans have only saved a mere 7% of the retirement nest egg they were hoping to build, according to Wells Fargo's latest retirement survey that polled 1,500 middle-class Americans”. <sup>5</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“Share of small-business owners who plan to retire before 65: <b>25%</b>. Portion who don’t plan to retire: <b>17%</b>.” <sup>11</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“8,000 Boomers turn 60 each day in the US. Yet two-thirds of boomers in the US expect to work past age 65. The boomer generation is delaying retirement age bay an average of nine years, up from five years in 2008.” <sup>12</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“It's official. The first decade of the 21st century will go down in the history books as a step back for the American middle class.” <sup>13</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“Last month, 88% of 800 registered voters said they were concerned about maintaining a comfortable standard of living in retirement, up from 73% last year, says a national poll out Thursday by Americans for Secure Retirement (ASR).” <sup>21</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l2 level1 lfo5; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“As recent college graduates scramble to find full-time jobs, numerous parents are helping their children pay bills or letting them live at home again. About 59% of parents provide or recently provided financial assistance to children aged 18 to 39 who weren't students, concluded a May survey of nearly 1,100 people by the National Endowment for Financial Education. According to Census data, 5.9 million Americans between 25 and 34 years of age—nearly a quarter of whom have bachelor's degrees—live with their parents, a significant increase from 4.7 million before the recession. But many parents can't afford the extra expense. A full 26% of those polled by the nonprofit group took on more debt to help their offspring, 13% delayed a planned life event such as a home purchase, and 7% postponed retirement.” <sup>34</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><b><i><span style="color: #002060; font-family: "Arial","sans-serif";">Reality Check on the Prospective Business Opportunities in 2011<o:p></o:p></span></i></b></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Importance of Entrepreneurs and Small and Medium-sized Enterprises in the US<o:p></o:p></span></b></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“…the recovering economy is ripe for new startups, but successful startups are more about the right person, than the right idea or the right climate. … If a few of these reasons are calling your name, now is the time to start building your business. There’s no better time, especially if people around you are hesitating due to an apparent fit to my other list. It means you’ll be facing a lot less competition. What are you waiting for?”. <sup>1</sup> <o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“It isn’t the idea that’s paramount when it comes to investing in tech startups, says Jason Caplain, general partner with Southern Capitol Ventures. Management is paramount, he says, adding, “A great team wins.” <sup>2</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“Many people in our workplaces today feel left out and out of control, even though they are the key to success. People take care of what they own. If they own the work practices and processes in their workplace, they will not only take care of them, they will excel. Energy will go up. Quality will go up. Morale will go up. If we create a workplace fit for the human spirit, we will not only get their heads and hands engaged, we will get their hearts.” <sup>6</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“…telecommuting just makes good business sense. It’s clear that many other employers agree. Nearly 3 million Americans work principally from home (not including those who are self-employed), according to a study released earlier this year by the Telework Research Network”. <sup>7</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“The Intuit Small Business Employment Index released today indicates that ‘small businesses created 55,000 new jobs in September.’ This, the company reports, equates to a 3.3 percent annualized rate of employment growth at companies with between 1 and 19 employees. Moreover, small business employment has been growing for nearly the past two years. Since November 2009, Intuit’s data show that businesses with fewer than 20 workers added 735,000 new employees.” <sup>16</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“The idea that we accomplish work mainly by organizing people to show up together at the same central office or factory at the same time five days a week for a certain amount of pay and benefits is in steep decline. We now stand at the gates of what policy expert Andrei Cherny calls "Individual Age Economics." <sup>17</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“There's only one way out. We have to compete. We have no choice but to make ourselves into the labor service providers that are in demand in the new marketplace. We won't be employees. We'll be small, focused company founders. Free agents. Mini-preneurs. The Individual Economy will require more technological skills and more individual initiative. It will require creativity and innovation. It will require people who hate selling anything to anyone — ever — to work hard to sell themselves and their capabilities to individuals and companies who need them.” <sup>17</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“The angel investor market in Q1,2 2011 showed signs of stabilization since the 30% market correction in the second half of 2008 and the first half of 2009. Total investments in Q1,2 2011 were $8.9 billion, an increase of 4.7% over Q1,2 2010, according to the Center for Venture Research at the University of New Hampshire. A total of 26,300 entrepreneurial ventures received angel funding in Q1,2 2011, a 4.4% increase from Q1,2 2010, and the number of active investors in Q1,2 2011 was 124,900 individuals, virtually unchanged from Q1,2 2010. The increase in total dollars and the matching increase in total investments resulted in a deal size of $338,400 in Q1,2 2011, comparable to the deal size in Q1,2 2010 of $337,300.” <sup>21</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“Investments for U.S. startups gained to nearly pre-recession investment levels in the third-quarter, a sign the economy may be improving. Investors put $8.4 billion into 765 deals for U.S.-based venture companies during the third quarter, a 29 percent increase in investment and an 8 percent hike in deals compared to the same period last year, according to Dow Jones VentureSource. The median amount raised for a round of financing during the third quarter was $6 million, up from the $5 million median a year earlier.” <sup>25</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“Women in the 21st century are a powerful growth engine for small business America with growth in women-owned businesses actually outpacing national business growth over the past 14 years. An overwhelming 99 percent of businesses run by women are small businesses. With the U.S. Bureau of Labor and Statistics projecting that female-owned businesses will generate up to 57 percent of small business jobs between 2009 and 2018, women in small business are showing no sign of slowing down.” <sup>18</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“…the number of women starting companies has doubled over the past three years” <sup>23</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: Symbol;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Entrepreneurs and creators used Kickstarter to raise $8.8 million in September, and these 50 projects exceeded their goals by the most.” <sup>28</sup><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 13.5pt; mso-add-space: auto; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“Nearly all of the businesses in the United States are small businesses. A total of 6.98 million private-sector businesses are located within the nation's 938 metropolitan and micropolitan areas, according to the U.S. Census Bureau. And 6.82 million of them -- 97.7 percent -- have fewer than 100 employees, meeting the definition of a small business.” <sup>29</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“There has never been a better time to do business in the United States than right now,” … There’s never been a better time because the big boys aren’t investing. This is the biggest opportunistic market in our lifetimes.” <sup>37</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Franchise Business Opportunities<o:p></o:p></span></b></div><div class="MsoNormal" style="margin-left: 13.5pt; text-indent: -13.5pt;"><br />
</div><div class="MsoListParagraph" style="margin-left: 13.5pt; mso-add-space: auto; mso-list: l4 level1 lfo3; text-indent: -13.5pt;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"><span style="font-family: Symbol; font-size: small;">·</span><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span>“Did you know that franchise businesses provide the nation’s workforce with nearly 10 million jobs? Did you know that they produce goods and services worth an estimated $802 billion? Did you know there are nearly a million franchise businesses in the United States?” <sup>30</sup><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b><span style="color: #002060; font-family: "Arial","sans-serif";">Sources</span></b><b><span style="color: #002060; font-family: "Arial","sans-serif"; font-size: 14pt; mso-bidi-font-size: 11.0pt;"><o:p></o:p></span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">1</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.forbes.com/sites/martinzwilling/2011/11/13/10-clues-that-its-time-to-start-your-own-business/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">10 Clues That It's Time to Start Your Own Business</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Forbes, 13-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">2</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.techjournalsouth.com/2011/11/it-isnt-the-idea-its-the-team-that-wins-says-venture-capitalist/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">It isn’t the idea, it’s the team that wins, says venture capitalist</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, TechJournal, 14-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">3</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/charlotte/blog/bank_notes/2011/11/bank-of-america-begins-charlotte-layoffs.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Bank of America begins Charlotte layoffs</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Charlotte Business Journals, 16-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">4</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bloomberg.com/news/2011-11-16/wells-fargo-survey-says-80-may-be-the-new-65-for-retirement-age.html?cmpid=yhoo"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Wells Fargo Says 80 May Be the New 65 for Retirees</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Bloomberg, 16-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">5</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://money.cnn.com/2011/11/16/retirement/age/index.htm?iid=Popular"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Delaying retirement: 80 is the new 65</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, CNN Money, 16-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">6</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="file:///C:/Users/Jack/Documents/Personal%20Business%20Advisors/Spain%20Business%20Advisors/Leadership%20principles%20for%20todayâs%20challenging%20times"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Leadership principles for today’s challenging times</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Triangle Business Journal, 18-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">7</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.entrepreneur.com/magazine"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Out of sight: When should a company allow its employees to work from home?</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Entrepreneur Magazine, December 2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">8</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.wral.com/business/story/10416838/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Nokia Siemens to lay off 17,000 worldwide</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, WRAL.com, 23-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">9</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2011/11/5-of-private-sector-jobs-disappeared.html?ana=e_pft"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">5% of private-sector jobs disappeared during downturn</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, The Business Journals, 28-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">10</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/triangle/news/2011/11/29/great-recession-cut-42-of-raleigh.html?ed=2011-11-29&s=article_du&ana=e_du_pap"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Great Recession cut 4.2% of Raleigh jobs</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Triangle Business Journal, 29-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">11</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.inc.com/magazine/20111001/index.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Crunching the numbers</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, INC magazine, October 2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">12</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> Reality Bites, </span><a href="http://www.businessweek.com/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Bloomberg Businessweek</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, September 12 – September 18, 2011, p. 85<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">13</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://money.cnn.com/2011/09/21/news/economy/middle_class_income/index.htm"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">A rough 10 years for the middle class</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, CNNMoney.com <o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">14</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.mainstreet.com/print/23990"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Home-Buying Season the Worst in at Least 50 Years</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Associated Press, September 2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">15</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/louisville/news/2011/09/23/ge-to-accept-6000-applications-for.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">GE to accept 6,000 applications for 480 jobs</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Louisville Business Journal, 23-Sep-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">16</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.forbes.com/sites/scottshane/2011/10/03/small-businesses-are-creating-jobs-why-doesnt-it-feel-like-it/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Small businesses still creating jobs as economy struggles</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Forbes.com, 03-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">17</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.denverpost.com/business/ci_18865827#ixzz1fDJX7MGf"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">As traditional jobs fade, be ready to market yourself</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, The Denver Post, 11-Sep-2011 <o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">18</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> Women Flex Big Muscle in Small Business, Intuit Blog, Monica Appelbe, 13-Sep-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">19</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.techjournalsouth.com/2011/09/nearly-40-percent-of-workers-feel-unappreciated/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Nearly 40 percent of workers feel unappreciated</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Tech Journal South, 28-Sep-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">20</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.usatoday.com/money/perfi/retirement/story/2011-10-05/retirement-worries/50676604/1"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">88% in poll say they're worried about retirement</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, USA Today, 06-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">21</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://wraltechwire.com/business/tech_wire/news/blogpost/10244899/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Report: Market for angel investing is in 'slow recovery'</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, WRAL Tech Wire, 11-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">22</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.aarp.org/work/job-hunting/info-10-2011/older-workers-jobless-longer.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">'Will I Ever Work Again?'</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, aarp.org/bulletin, October 2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">23</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://techcrunch.com/2011/10/18/women-2-0-number-of-women-founders-doubled-over-past-three-years/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Women 2.0: Number Of Women Founders Doubled Over Past Three Years</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, TechCrunch, Sarah Perez, 18-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">24</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.portfolio.com/views/blogs/the-business-blotter/2011/10/19/united-nations-reports-high-millennial-unemployment/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Talking About a Jobless Generation</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Portfolio.com, Nicola Kean, 19-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif; font-size: xx-small;">25</span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/phoenix/news/2011/10/21/startup-investments-rise-in-third.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Startup investments rise in third quarter</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Phoenix Business Journal, Jennifer Johnson, 21-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">26</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.carolinatalknetwork.com/2011/10/24/survey-economists-more-bleak-about-us-economy/"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Survey: Economists more bleak about US economy</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Charlotte Observer, 24-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">27</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/triangle/morning_call/2011/10/nc-has-lost-290200-jobs-in-past.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">N.C. has lost 290,200 jobs in past four years</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Triad Business Journal, 25-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">28</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.businessweek.com/magazine/the-new-venture-capital-10202011-gfx.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">The New Venture Capital</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Bloomberg Businessweek, October 24 – October 30, 2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">29</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2011/11/98-of-all-businesses-are-small.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Almost 98% of all businesses are classified as small businesses</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, The Business Journals, 02-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">30</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://blog.frannet.com/frannet-news/franchising-a-job-creation-machine.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Franchising: A Job-Creation Machine</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Frannet Blog, 04-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">31</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2011/11/99-of-top-100-markets-lose.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">99 of top 100 markets lose manufacturing jobs</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, The Business Journals, 10-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">32</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2011/11/number-of-unemployed-workers-has.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Number of unemployed workers has doubled since recession's onset</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, The Business Journals, 10-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">33</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/bizjournals/on-numbers/scott-thomas/2011/11/private-sector-loses-45m-jobs-in-past.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Private sector loses 4.5M jobs in past four years</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, The Business Journals, 10-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">34</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://online.wsj.com/article/SB10001424052970203537304577028001724067184.html"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">The Toll on Parents When Kids Return Home</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, The Wall Street Journal, 11-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">35</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.gallup.com/poll/150383/majority-american-workers-not-engaged-jobs.aspx"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Majority of American Workers Not Engaged in Their Jobs</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Gallup, 28-Oct-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">36</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.bizjournals.com/triangle/news/2011/11/30/job-cuts-rise-13-in-2011.html?ed=2011-11-30&s=article_du&ana=e_du_pap"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Job cuts rise 13% in 2011</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Triangle Business Journal, 30-Nov-2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 9pt; text-indent: -9pt;"><sup><span style="font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: xx-small;">37</span></span></sup><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> </span><a href="http://www.portfolio.com/views/blogs/entrepreneurship/2011/11/30/optimism-is-the-name-of-the-entrepreneurial-game-but-take-it-with-a-dose-of-salt?ana=e_pft"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">A Great Time To Be an Entrepreneur? Well...</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">, Portfolio.com, 01-Dec-2011</span><span style="font-family: "Arial","sans-serif";"><o:p></o:p></span></div>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-17421125829694296972011-09-12T17:49:00.001-04:002011-09-26T16:56:26.515-04:00The American Dream (Revisited): Reflections on Labor Day 2011<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Is the current economic environment an obstacle or an opportunity? Do any of us have any control over the current situation, or are we free to empower ourselves to do something to make a difference at this time?</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">I have been pondering this question lately. During the past several months I have been researching the current job market amidst the economic challenges we have been experiencing over the past several years and discovered that many of the paradigms that I had when I entered the workforce in the 1970s are no longer even a glimmer of the current realities that we face in 2011. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Unemployment and Underemployment in the US</span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">The figures that the media reports on the unemployment rates represent people currently searching for a job. News that the <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">unemployment rate</i></b> in my home state of North Carolina rose above 10% again in August 2011 reinforces the challenges that many of our family, friends, and neighbors are facing today and likely in the years’ ahead. <sup>17</sup> Of course this figure does not include the large number of unemployed that have given up and surrendered on their job search and the tremendous number of underemployed professionals across the country. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">One fact that does not get a lot of publicity is our current state of <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">underemployment</i></b>. For instance, <i style="mso-bidi-font-style: normal;">“Many of the underemployed can be considered the unseen faces of the recession because their numbers are not fully reflected in the Bureau of Labor Department's metrics. A Gallup poll published on February 17, 2011 found that the number of <b style="mso-bidi-font-weight: normal;">underemployment surged to 19.6 percent in mid-February 2011</b> from 18.9 percent at the end of January 2010</i>.” <sup>21</sup> With unemployment over 10% in some regions; the number of part-time workers seeking full-time jobs at 10%; and underemployment approaching 20% – the figures are disturbing and indicative of substantial structural changes in the job market in our country. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">My recent research and personal experiences have refuted my original set of beliefs that I had when I embarked on my professional career, which included: </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><ol><li><span style="font-family: "Arial","sans-serif";"></span><span style="font-family: "Arial","sans-serif";">I have a contract with Corporate America.</span></li>
<li><span style="font-family: "Arial","sans-serif";"></span><span style="font-family: "Arial","sans-serif";">I submit a resume and cover letter for an open position and someone contacts me on a timely basis if they are interested in scheduling an interview with me.</span></li>
<li><span style="font-family: "Arial","sans-serif";"></span><span style="font-family: "Arial","sans-serif";">The investment I have made into real estate over the past four decades is my golden nest egg for my retirement.</span></li>
<li><span style="font-family: "Arial","sans-serif";"></span><span style="font-family: "Arial","sans-serif";">I can look forward to transitioning from working full-time into retirement and recreation when I reach my mid-60s.</span></li>
</ol><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">My research provided me with greater insights into the current set of challenges and opportunities that we face today. </span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Living the American Dream with the Contract with Corporate America (Revisited)</span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">The <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">“Contract with Corporate America”</i></b> was a paradigm that many of us perceived when we joined the workforce in the 1960s through early 1980s. We accepted positions with the expectation that if we worked hard, were dedicated to the corporate mission and values, and executed our job with loyalty and integrity – that we could look to retire with a pension and benefits somewhere in our early to late 60s. Back in the 1970s, I entered the workforce with the following paradigm in regard to my professional career:</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: Wingdings; font-size: 12pt;">></span><span style="font-family: "Arial","sans-serif";"> Go to school </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Get a job with a reputable company </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";">Work hard </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Settle down, raise a family</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Earn several promotions over three or four decades </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Retire</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Relax – “No worries!”</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Far too many have had to confront the reality that our version of the “American Dream” has crashed and burned over the past decade. Millions of hard working corporate citizens have been <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">downsized</i></b>, <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">rightsized</i></b>, <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">restructured</i></b>, <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">acquired</i></b>, <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">merged</i></b>, and <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">outsourced</i></b> – quite often multiple times. The perceived corporate agreements in the 1960s and 1970s in where you retire from the first company you join in a professional job are long gone. During the past several months we have witnessed substantial <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">layoffs</i></b>, tens of thousands of jobs, from major corporations including HSBC, Borders, Merck, Lockheed Martin, Bank of America, Cisco, Pfizer, Credit Suisse, Research in Motion, Boston Scientific, and Goldman Sachs to name just a few. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">The current economic challenges have been particularly devastating to American<b style="mso-bidi-font-weight: normal;"> men</b> who have seen their employment rate drop 20% in our lifetime. The employment figures also indicate that many men over 55 who are displaced from their jobs quite often do not have to opportunity to reenter the workforce. <sup>2</sup> </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Another interesting predicament at this time is that corporations aggressively invested billions of dollars into <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">productivity improvements</i></b> to make products and services faster and cheaper over the past several decades. The good news is that it has positioned many corporations to continue to compete in highly competitive global markets. Unfortunately, on the other hand, “American Productivity” is a key element of the foundation of the <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">“jobless recovery”</i></b> that we have experienced over the past two years. <sup>35</sup></span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Bottom line is that today the terms of the new <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">“Corporate Handshake”</i></b> are: </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Go to work and execute your job to the best of your ability </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> <span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> </span></span><span style="font-family: "Arial","sans-serif";">Company squares-up with a paycheck every two weeks</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> <span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> </span></span><span style="font-family: "Arial","sans-serif";"><i style="mso-bidi-font-style: normal;">Repeat cycle…</i></span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">If you are fortunate and are able to land a full-time job, you may get a break on your healthcare costs and the opportunity to participate in a company 401K program. The full complement of corporate benefits that many of us enjoyed several decades are only a memory today for the majority of workers.</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Living the American Dream by Finding the right Corporate Job (Revisited)</span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">The process of identifying and securing a new job has also certainly changed over the past few decades. The good news is that most companies post their open positions on their own websites along with a host of popular career and recruiting websites. Professionals searching for new career options can easily spend 8 to 12 hours each day visiting hundreds of websites looking for positions that match their career objectives. The bad news is that millions of their peers also have access to the same job postings. The net effect is that while the figures vary according to the source; typically between 100 and 400 resumes are being submitted for each job opening today. <sup>23</sup> The other key factor is that there are far more talented unemployed and underemployed professionals searching for new jobs than the available number of opportunities.</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">This is how I recall my job search process from a decade or two ago:</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Check the want ads (career web sites) for interesting open positions </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Create a cover letter, fine tune resume</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Submit for open position</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Receive confirmation of submission from recruiter or HR rep (24 hours)</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Receive confirmation for interview or “not a fit at this time” (1 week)</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Interview for position (1 to 2 weeks)</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Receive request for 2<sup>nd</sup> interview or “not best candidate” (2 weeks)</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Complete interview process (4 to 8 weeks)</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">My most recent experience with the job search process was as follows.</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Check the career and company web sites for interesting open positions </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Fine tune cover letter and resume</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> Submit for position</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> </span><span style="font-family: Wingdings; font-size: x-small;">></span><span style="font-family: "Arial","sans-serif"; font-size: x-small;"> <i>Still waiting for an acknowledgement or feedback</i> <i>(Black Hole syndrome)</i></span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Today recruiters may field 250 or more phone calls a week; send as many emails; produce status reports for hiring managers and their HR heads; coordinate interviews and provide feedback to candidates; get offer letters approved; follow-up and negotiate with selected candidates; and support the on-boarding process for the selected candidates. For the majority of applicants, no acknowledgement, confirmation, or feedback is ever conveyed leading me to view company career and on-line job posting websites as “Black Holes” – a vast amount of energy is sucked in and nothing ever comes back out. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">The other critical dimension for job seekers today is to understand that the majority of new positions are never posted on a job or career website. It is imperative that you are connected in the right places with the right people at the right time quite often to have a shot at being considered for new opportunities. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">In my opinion, while it is certainly worthwhile to explore and become aware of current job openings, I believe that professionals seeking new career opportunities have two choices today:</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><ol><li><span style="font-family: "Arial","sans-serif";">Network, Network, Network – <i style="mso-bidi-font-style: normal;">be patient</i>; Network, Network, Network, …</span></li>
<li><span style="font-family: "Arial","sans-serif";">Start your own business</span></li>
</ol><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Living the American Dream through Home Ownership (Revisited) </span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">When I launched my own professional career, I was living in the following paradigm relative to home ownership. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Get a mortgage </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Buy a house</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Invest in home improvements</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Receive a great job offer in another geographic location</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Sell your home (with a handsome return on investment) </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Accept new job, relocate family and belongings </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Buy a bigger home</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> …</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">The current housing crisis is exacerbating the employment situation. A recent article in Businessweek noted that <i style="mso-bidi-font-style: normal;">“A lack of mobility – particularly for homeowners who owe more than their dwellings are worth – keeps workers from going to where the jobs are”</i>. <sup>18</sup> This predicament continues to impact both the unemployed and underemployed from capitalizing on new career opportunities outside his or her current geographic location. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Unfortunately, this situation has led to the following scenario becoming reality for many Americans today: </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Get a mortgage </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Buy a house</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Invest in home improvements</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Current mortgage underwater due to housing crisis</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Learn about a new career opportunity in another area</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Decision to relocate without family, or pass on job opportunity</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> Put career on hold until housing market turns around</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0.5in;"><span style="font-family: "Arial","sans-serif";"> </span><span style="font-family: Wingdings;">></span><span style="font-family: "Arial","sans-serif";"> …</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Living the American Dream through Retirement (Revisited)</span></b><span style="font-family: "Arial","sans-serif";"></span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Most of us have envisioned a time in our life where we would finally have the time and financial resources to enjoy golf, tennis, music, theatre, arts, travel, leisure, time with grandchildren, and/or down time for perhaps the first time in our adult lives. The good news is that a new generation of hard working American women and men are approaching retirement age and can begin to enjoy the fruits of their labors over the past 40 years. The bad news is that a new generation of hard working American women and men are approaching retirement age and many cannot begin to envision being in a financial position to consider retiring. At the same time, our elected officials continue to debate about whether our social infrastructure and programs are sufficient enough to financially support the emerging Baby Boomer generation. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Beginning January 1<sup>st</sup>, 2011 and continuing through 2030, more than ten thousand <i style="mso-bidi-font-style: normal;">Baby Boomers</i> will reach the age of 65 <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">each day</i></b>. This will result in the doubling of the numbers of senior citizens over the next two decades. During the Baby Boomer years (1946 – 1964), approximately 78 million Americans were born. Today this represents over 26% of the total US population.<sup>16</sup> </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">One of the more dramatic changes from previous generations is our concept of retirement which has been influenced by the increasing demands on our social security system from the emerging Baby Boomers and two key economic recessions over the past decade. Those of us who envisioned retiring in the same fashion as our parents are confronting a rude awakening. The current stock market volatility and global economic environment; the impact on 401K retirement savings from the market crashes in 2001 and 2008; and the high rate of unemployment and underemployment continue to delay any plans that Baby Boomer may have made to retire from the workforce. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Another surprise that most Baby Boomers were not anticipating is that many parents are currently providing support for the children in the 20s and even 30s. A recent survey revealed that almost 60% of parents have or are currently providing financial support to their adult children. <sup>6</sup> This is yet one more challenge that weighs on Baby Boomers contemplating retirement plans. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">What are our options?</span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">I always have been a firm believer that every issue, challenge, and problem presents me with an opportunity for action. While each of the factors listed above challenge many of the paradigms that we have carried for decades, the current economic environment does present each of us with a new set of opportunities that we can choose to embrace. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">As Baby Boomers transition into <i style="mso-bidi-font-style: normal;">“empty nesters”</i>, many professionals begin to examine and reevaluate their career objectives. I have summarized key desires of Baby Boomers based on interviews with hundreds of senior level professionals and executives across the US during 2011: </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><ul><li><span style="font-family: "Arial","sans-serif";">Opportunity for increased employment certainty and security</span></li>
<li><span style="font-family: "Arial","sans-serif";">Opportunity to make a meaningful contribution to something of value</span></li>
<li><span style="font-family: "Arial","sans-serif";">Opportunity to increase retirement savings</span></li>
<li><span style="font-family: "Arial","sans-serif";">Opportunity to improve work-life balance including schedule flexibility</span></li>
</ul><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">In my experience, traditional Global 2000 corporate jobs are not nearly as likely to satisfy these types of career and lifestyle objectives from senior-level professionals as they may have several decades ago. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Importance of Entrepreneurs and Small and Medium-sized Enterprises in the US</span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">Entrepreneurs are the foundation of the US economic engine. Small businesses currently create two-thirds of new jobs. <sup>24 </sup>According to the US Small Business Administration <sup>25</sup>, small firms: </span><br />
<br />
<ul><li><span style="font-family: "Arial","sans-serif";">Represent 99.7 percent of all employer firms.</span></li>
<li><span style="font-family: "Arial","sans-serif";">Employ just over half of all private sector employees.</span></li>
<li><span style="font-family: "Arial","sans-serif";">Pay 44 percent of total U.S. private payroll.</span></li>
<li><span style="font-family: "Arial","sans-serif";">Have generated 64 percent of net new jobs over the past 15 years.</span></li>
<li><span style="font-family: "Arial","sans-serif";">Create more than half of the nonfarm private gross domestic product (GDP).</span></li>
<li><span style="font-family: "Arial","sans-serif";">Hire 40 percent of high tech workers (such as scientists, engineers, and computer programmers).</span></li>
<li><span style="font-family: "Arial","sans-serif";">Are 52 percent home-based and 2 percent franchises.</span></li>
<li><span style="font-family: "Arial","sans-serif";">Made up 97.3 percent of all identified exporters and produced 30.2 percent of the known export value in FY 2007.</span></li>
<li><span style="font-family: "Arial","sans-serif";">Produce 13 times more patents per employee than large patenting firms; these patents are twice as likely as large firm patents to be among the one percent most cited.</span></li>
</ul><span style="font-family: "Arial","sans-serif";">While large firms are continuing to focus on productivity <i style="mso-bidi-font-style: normal;">(i.e. more output from fewer workers)</i> for their survival, small businesses and entrepreneurs continue to fuel the growth in employment opportunities during good time and bad. </span></div><ul style="margin-top: 0in;" type="disc"></ul><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Franchise Business Opportunities</span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">During the past year, I was certainly surprised to learn a number of enlightening facts about franchise businesses including that one <b style="mso-bidi-font-weight: normal;">1</b> of every <b style="mso-bidi-font-weight: normal;">8</b> jobs in the US is franchise-related and <b style="mso-bidi-font-weight: normal;">1</b> out of every <b style="mso-bidi-font-weight: normal;">12</b> businesses is a franchised business. <sup>39</sup> Franchising is an interesting business model that enables entrepreneurs that have created a successful business to replicate their success across a larger geographic footprint. The franchising model can often position an entrepreneur to scale their business more quickly and efficiently than doing so with their own financial and human capital. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">According to the authors of </span><a href="http://www.amazon.com/Street-Smart-Franchising-Before-Franchise/dp/1599184117/ref=sr_1_1?s=books&ie=UTF8&qid=1315518763&sr=1-1"><span style="font-family: "Arial","sans-serif";">Street Smart Franchising</span></a><span style="font-family: "Arial","sans-serif";">, <i style="mso-bidi-font-style: normal;">“It is estimated that more than 1 million people per year (mostly employees) investigate starting a franchise. Conversely, relatively few existing franchise owners leave self-employment to look for jobs”</i>. Additional background information on the economic impact of franchising from the </span><a href="http://www.buildingopportunity.com/"><span style="font-family: "Arial","sans-serif";">International Franchise Association</span></a><span style="font-family: "Arial","sans-serif";">:</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><ul><li><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">17,430,700</span></b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> = the number of jobs filled within and because of franchised businesses </span></li>
<li><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">9,125,700</span></b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> = the number of franchise business jobs</span></li>
<li><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">828,138</span></b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> = the number of franchise establishments </span></li>
<li><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">$2.1 trillion</span></b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> = direct and indirect economic impact of franchised businesses</span></li>
<li><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">$1.2 trillion</span></b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> = Gross Domestic Product (GDP) of franchised businesses </span></li>
</ul><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">For those <i style="mso-bidi-font-style: normal;">“wannabe”</i> entrepreneurs who are still waiting to come up with a brilliant idea for the next, best thing – and those professionals that are interested in exploring non-traditional business opportunities, franchise business opportunities could be the right chose for your next career option. The franchise model includes thousands of different businesses to consider in dozens of quite varied and diverse business categories. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Taking control over your destiny</span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">For me personally, I embrace entrepreneurship and the power and overall impact of small and medium-sized businesses on our economy and the ability for the US to continue to complete globally. Based on my own professional experiences, I recognize the following advantages of small businesses versus large corporate enterprises:</span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><ul><li><span style="font-family: Symbol;"><span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"></span></span><span style="font-family: "Arial","sans-serif";">Ability to maintain a long-term, strategic perspective on the business versus the distraction of maintaining quite often unreasonable expectations of analysts and achieving quarterly earnings targets</span></li>
<li><span style="font-family: "Arial","sans-serif";">Ability to stay nimble and agile by responding quickly to changes in marketing and client requirements, competitive threats, and economic challenges and opportunities</span></li>
<li><span style="font-family: "Arial","sans-serif";">Ability to consistently focus on exceeding customer’s and employee’s requirements versus internal political affairs </span></li>
<li><span style="font-family: "Arial","sans-serif";">Ability to consistently feel empowered to make a difference in the world</span></li>
</ul><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">While I too have personally felt the impact from the economic challenges over the past few years, I continue to be an optimist and see my glass as half full. Challenges always create new opportunities and you can take advantage of the current situation today by being reflective, resourceful, creative, opportunistic, and capitalizing on best practices and lessons learned throughout your career. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">While many senior level professionals may be sitting by their phones and checking their email Inbox several times a day praying that a corporate recruiter or human resources representative will contact them or provide them with feedback on the last 20 positions in which they have submitted resumes – other professionals have decided to take control of their own destiny by evaluating and launching new business ventures. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span style="font-family: "Arial","sans-serif";">NOW IS THE TIME to evaluate launching your own new business, engaging in an early stage business, or investigating launching a proven business in your own geographic area with a franchise, distributorship, affiliate, or licensing business model. Remember that there are numerous examples of successful companies today that were launched during a recession including Apple, Microsoft, HP, Trader Joe’s, Disney, CNN, FedEx, IBM, and GE to name a handful. Each of these successful business was also launched as a small business. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif";">Take control of your own professional career destiny</span></b><span style="font-family: "Arial","sans-serif";">. Recognize that you continue to have multiple career choices and that you are ultimately the one empowered and responsible to make your own career decisions. While you are waiting for a phone call or email from a recruiter or hiring manager – investigate options to fulfill your own dreams and aspirations through launching your own business. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-family: "Arial","sans-serif";">Background: <i style="mso-bidi-font-style: normal;">Reality Check on the American Workplace in 2011</i></span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><i style="mso-bidi-font-style: normal;"><span style="font-family: "Arial","sans-serif";">I have captured a small snapshot of the indicators of a new set of realities that the Baby Boomer generation is facing at this time. </span></i></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><ul><li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“The White House said yesterday that it predicts <b style="mso-bidi-font-weight: normal;">the unemployment rate will remain stubbornly high</b>, not falling below 6% until 2017” <sup>29</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Total payrolls were unchanged in August, <b style="mso-bidi-font-weight: normal;">the first time since 1945 that the government has reported a net job change of zero</b>. Economists warned that the economy can’t keep growing indefinitely if hiring remains stalled.” <sup>33</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Not only are vast numbers of Americans unemployed or underemployed, <b style="mso-bidi-font-weight: normal;">for the first time since the Great Depression many American workers are facing the prospect of very-long-term — maybe permanent — unemployment</b>. Among other things, the rise in long-term unemployment will reduce future government revenues, so we’re not even acting sensibly in purely fiscal terms. But, more important, it’s a human catastrophe.”<sup>20</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“From its peak of 19.5 million in 1979, manufacturing employment declined, on average, by about 1.5 million jobs a decade until 2001. Then it fell off a cliff: America lost 2.5 million manufacturing jobs from 2001 to 2007 and almost that much again during the latest recession. So, <b style="mso-bidi-font-weight: normal;">nearly five million American manufacturing jobs have disappeared since 2001, an astonishing 29% plunge in less than ten years</b>. The US has lost more than 42,000 factories during that time. ” <sup>27</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“In the 1970s, the U.S. computer industry had 150,000 workers. This became two million at its peak but now is back to 150,000. Meanwhile, computers went from a $20 billion to a $200 billion industry.”<sup>22</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Adults 18-64 who were laid off in the recent recession - as well as single twenty-somethings still looking for jobs - represent nearly 3 out of 5 poor people - a switch from the early 1970s, when children made up the main impoverished group.” <sup>38</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“The number of planned layoffs at U.S. firms rose to a 16-month high in July as sectors which had been seeing fairly few layoffs unexpectedly bled jobs, a report Wednesday showed. Employers announced 66,414 planned job cuts last month, up 60.3 percent from 41,432 in June, according to a report from consultants Challenger, Gray & Christmas, Inc.” <sup>5</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“IBM's announcement on Jan. 5 that it will close its traditional pension plan likely came as a shock and disappointment to the 117,000 employees affected. But the move didn't surprise anyone who's been keeping an eye on America's fast-evolving retirement landscape. … <b style="mso-bidi-font-weight: normal;">The move by financially strong IBM indicates that corporate America's shift away from traditional pension plans will likely continue--and that Americans will be forced to take even greater personal responsibility for their retirement finances</b>.” <sup>36</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">The share of American men aged 16 to 64 who are employed</b> has fallen in a sawtooth pattern, from nearly 85% in the early 1950’s to <b style="mso-bidi-font-weight: normal;">less than 65% now</b>”. <sup>2</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Yet an equally important reason for the lower jobless rate is that <b style="mso-bidi-font-weight: normal;">many people, men in particular, have simply given up looking for work and are no longer counted among the unemployed</b>”. <sup>2</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“A Bureau of Labor Statistics study found that <b style="mso-bidi-font-weight: normal;">many older works who lose jobs never go back to work again</b>. Of those aged 55-64 who were displaced from 2007 through 2009, 21% were out of the labor force as of January 2010”. <sup>2</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">America has a smaller fraction of the prime-age men in work and in the labour force than any other G7 economy</b>. Some 25% of men aged 25-54 with no college degree, 35% of high-school dropouts and almost 70% of black high-school dropouts are not working.” <sup>3</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">The portion of men who work and their median wages have been eroding since the early 1970s</b>.” <sup>31</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“The portion of men holding a job—any job, full- or part-time—fell to 63.5 percent in July—hovering stubbornly near the low point of 63.3 percent it reached in December 2009. <b style="mso-bidi-font-weight: normal;">These are the lowest numbers in statistics going back to 1948</b>. Among the critical category of prime working-age men between 25 and 54, only 81.2 percent held jobs, a barely noticeable improvement from its low point last year—and still well below the depths of the 1982-83 recession, when employment among prime-age men never dropped below 85 percent. To put those numbers in perspective, consider that in 1969, 95 percent of men in their prime working years had a job.” <sup>31</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">Men who do have jobs are getting paid less</b>.” <sup>31</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Over the past 40 years, a period in which U.S. GDP per capita more than doubled after adjusting for inflation, the annual earnings of the median prime-aged male have actually fallen by 28 percent. Indeed, <b style="mso-bidi-font-weight: normal;">males at the middle of the wage distribution now earn about the same as their counterparts in the 1950s</b>! This decline reflects both stagnant wages for men on the job, and the fact that, compared with 1969, three times as many men of working age don’t work at all.” <sup>32</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">Technology, specifically the Internet, has disintermediated and disrupted entire industries</b>. When was the last time you used a travel agent? Doesn't everyone book their own flights and hotels online? Do you use a stock broker to buy stocks? I haven't used a stock broker in over 20 years. When was the last time you went to a store to buy music? Does anyone have a secretary anymore? When was the last time you went into a bank and talked to an actual person? Doesn't everyone use ATMs and bank online? All of these jobs have been severely disrupted and reduced by the Internet. Those jobs, and many more like them, are never coming back.” <sup>34</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Reportedly, the home of the great American Cheeseburger [McDonald’s] hired 62,000 people <b>after receiving more than 1,000,000 applicants</b>” <sup>19</sup></span></li>
<li><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Half of Baby Boomers expect to be at least in their 70s before they fully retire from the workplace</span></b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">. <sup>1</sup></span></li>
<li><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Over 75% of Baby Boomers expect to keep working after “retirement”</span></b><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">. <sup>1</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">Between 1995 and 2007, the number of older workers on full-time work schedules nearly doubled while the number working part-time rose just 19 percent</b>. As a result, full-timers now account for a majority among older workers: 56 percent in 2007, up from 44 percent in 1995. <sup>14</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">The number of workers between the ages of 65 and 74 is predicted to soar by 83.4 percent between 2006 and 2016</b>. Similarly, the number of workers aged 75 and up is predicted to grow by 84.3 percent. By 2016, workers age 65 and over are expected to account for 6.1 percent of the total labor force, up sharply from their 2006 share of 3.6 percent.” <sup>15</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">Americans over 55 were particularly hard hit by this past recession</b>. Not only did their jobless rate hit record levels, but their average length of joblessness, according to the U.S. Bureau of Labor Statistics, was over 35 weeks, compared to 30 weeks for workers ages 25 to 34.” <sup>4</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“For 2011 so far, employers have announced 312,220 cuts, down 8 percent from the first 7 months of 2010”. <sup>5</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">A new survey finds 59 percent of parents are providing, or have in the past provided, financial support to their adult children when they are no longer in school</b>”. <sup>6</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“…43 percent of parents providing financial support say they are doing so because they are "legitimately concerned" with their child’s financial well-being”. <sup>6</sup> </span></li>
</ul><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="color: #002060; font-family: "Arial","sans-serif";">Background:</span></i></b><b style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-family: "Arial","sans-serif";"> Reality Check on the Prospective Business Opportunities in 2011</span></b></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><i style="mso-bidi-font-style: normal;"><span style="font-family: "Arial","sans-serif";">So much for the depressing news – there is also an abundance of encouraging headlines as well, including:</span></i></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><ul><li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">With the U.S. unemployment rate at 9.1 percent as of July 31 and a fragile economic recovery underway, many workers feel they are left with no choice but to take their careers into their own hands. <b style="mso-bidi-font-weight: normal;">Employees are bidding farewell to corporate America in the hope of finding a more secure, or at least fulfilling, future</b>. They are <b style="mso-bidi-font-weight: normal;">reinventing themselves by starting their own companies</b> or by pursuing long-put-off dreams that include creative or charitable endeavors. While it might seem like a bold move, countless workers believe the abundance of uncertainty in today’s job market mitigates the fear factor. <sup>7</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">Small businesses create 2 of every 3 new jobs</b>. More than half of Americans who work, own or work for a small business. And right now, small businesses are driving our recovery, as they’ve done time and again throughout U.S. history.” <sup>24</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“The unemployment picture has been unrelentingly gloomy for some time now. But one recent <b style="mso-bidi-font-weight: normal;">study shows that more than 40 percent of small businesses plan to hire in the next six months</b>. Top jobs in demand? Sales and marketing -- nearly half of business owners making hires said they were looking for more staff in this category.” <sup>40</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“In 2008, there were 29.6 million businesses in the United States, according to Office of Advocacy estimates. Census data show that there were 6.0 million firms with employees in 2006 and 21.7 million without employees in 2007 (the latest available data). Small firms with fewer than 500 employees represent 99.9 percent of the 29.6 million businesses (including both employers and nonemployers), as the most recent data show there were about 18,000 large businesses in 2006.” <sup>26</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">Small businesses</b> are an important and growing driver of the US economic growth and dynamism. They <b style="mso-bidi-font-weight: normal;">employ over half of America’s private sector workers</b>, product over half of America’s non-farm private GDP, and <b style="mso-bidi-font-weight: normal;">create roughly 75% of new private sector jobs</b>” <sup>13</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Small businesses will be better positioned than large corporations to provide customers with highly targeted, customized, and relevant products. Small businesses, because of their size and agility, are extremely well positioned to serve niche markets”. <sup>13</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Small businesses will reclaim manufacturing, fueling small-scale and specialized production. New manufacturing technologies will allow small businesses to lead the market in meeting demands for customization”. <sup>13</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“Almost half of US small businesses will be involved in global trade by 2018. Small businesses will more readily take advantage of the global marketplace in their businesses”.<sup>13</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“92% of Americans say entrepreneurs are critically important to job creation: 75% think the US cannot have a sustained economic recovery without another burst of entrepreneurial activity”. <sup>8</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">New firms add an average of 3 million jobs in their first year, while older companies lose 1 million jobs annually</b>”. <sup>8</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">More than half of the companies on the 2009 Fortune 500 list were launched during a recession or bear market, along with nearly half of the firms on the 2008 Inc. list of America’s fastest-growing companies</b>”. <sup>8</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">In 2009, an average of 0.34% of adults created a new business each month, equaling about 558,000 new businesses per month”. <sup>8</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“<b style="mso-bidi-font-weight: normal;">There’s been a surge of people aged 50-plus starting businesses</b>, and it’s happening for a number of reasons. But today’s driving factor, according to the </span><a href="http://assets.aarp.org/rgcenter/econ/work_career_08_1.pdf"><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">Staying Ahead of the Curve 2007</span></a><span style="font-family: "Arial","sans-serif"; font-size: 11pt;"> survey from AARP, appears to be “financial need.” <sup>4</sup></span></li>
<li><span style="font-family: "Arial","sans-serif"; font-size: 11pt;">“… [academic and researcher] Vivek Wadhwa, … conducted a study [in 2010] of over 500 successful technology businesses and found that <b style="mso-bidi-font-weight: normal;">older startup entrepreneurs were actually more successful than younger ones</b> — despite common perceptions. Wadhwa credits their expertise, customer experience and relationships, and established network of supporters for their success. ” <sup>4</sup> </span></li>
</ul>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-83179685838032245962011-05-30T17:07:00.001-04:002011-05-30T17:08:02.829-04:00“Take Steps Be Heard For Crohn's & Colitis” on Sat, June 18th<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span class="Apple-style-span" style="font-family: 'Trebuchet MS', sans-serif;">I will be joining my daughter <b>Marci</b>, who is wrapping up her senior year at NC State University, as a member of her team to walk in the <b>Crohn's / Colitis Foundation</b>'s largest fundraiser of the year, “<b><i style="mso-bidi-font-style: normal;"><span style="color: #002060; font-size: 14pt;">Take Steps Be Heard For Crohn's & Colitis</span></i></b>” on <b><span style="font-size: 14pt;">Saturday</span></b><span style="font-size: 14pt;">, <b style="mso-bidi-font-weight: normal;">June 18<sup>th</sup></b></span> at <b>4:00 p.m.</b> at the <b>Durham Bulls Athletic Park (</b><b><span style="font-size: 14pt;">DBAP</span>)</b> in downtown Durham, NC. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span class="Apple-style-span" style="font-family: 'Trebuchet MS', sans-serif;">Marci was diagnosed with Crohn’s / Ulcerative Colitis seven years ago and while she receives medications from Duke University Hospital on a monthly basis to help alleviate the symptoms, there is currently no known pharmaceutical or surgical cure for Crohn's disease. Over 1.4 million American adults and children are affected by digestive diseases – one in every 200 Americans. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span class="Apple-style-span" style="font-family: 'Trebuchet MS', sans-serif;">We are welcoming all of our friends to join us for this very worthwhile cause on June 18<sup>th</sup> to enjoy the festivities, fun, and food. The money will go to research to find a cure and local patient programs. To join her team, you can visit “<b style="mso-bidi-font-weight: normal;">Team Marci's</b>” webpage at <a href="http://online.ccfa.org/goto/teammarci" target="_blank"><b>http://online.ccfa.org/goto/teammarci</b></a>, and click on “<b style="mso-bidi-font-weight: normal;">Join Team</b>”. If you are not able to join us but are interested in supporting this very worthwhile cause, you can make a donation to Marci’s team by clicking on her name under the “Join Team” section. </span></div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;"><span class="Apple-style-span" style="font-family: 'Trebuchet MS', sans-serif;">Thank you in advance for helping us seek a better quality of life for patients fighting these terrible diseases. Together we can make a difference!</span></div>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-42191607755415754652011-02-03T16:20:00.001-05:002011-02-03T16:23:13.915-05:00Personal Business Advisor’s (PBA) Hybrid Model is an innovative alternative to angel and venture funding for start-up businesses<span style="font-family: Georgia, "Times New Roman", serif;">In response to a difficult job market that has now changed forever, </span><a href="http://www.personalbusinessadvisors.com/"><span style="font-family: Georgia, "Times New Roman", serif;">Personal Business Advisors</span></a><span style="font-family: Georgia, "Times New Roman", serif;"> (PBA) created a <strong><em>“Hybrid Model”</em></strong> in recognition of the unique needs of both executives and businesses. This innovative concept supports both growing companies that seek senior-level executive talent <em>(as well as equity partners)</em>, and senior level executives who seek interesting career opportunities that provide equity and a six-figure salaried executive position.<br />
<br />
The PBA Hybrid model is a unique approach for young companies to attract highly experienced executive talent with the additional benefit of infusing capital into your business. Under this model, PBA Advisors’ conduct a success-only-search for executive talent across the nation that meets your specific requirements. All candidates we present to you for your consideration have been fully educated about this concept, and have indicated that they are financially capable of and interested in making an investment in exchange for an equity position and an executive role in your business.<br />
<br />
This Hybrid method offers advantages over other options of fueling growth, including angel and venture capital, especially if the founders are interested in retaining control of their company. This model positions entrepreneurs with the option to allow equity to remain within your business. In addition, the executives we attract are most often willing to work initially for a more modest salary than they have been accustomed to receiving previously because they recognize the long-term upside potential. <br />
<br />
All of the executives we present to you are C-level (CEO, COO, CTO, etc.), vice president, or director-level professionals. Our executive candidates typically invest $250K on average in exchange for an equity position in your company along with a six-figure salary and bonus potential. <br />
<br />
Please contact me if you are interested to explore having PBA identify prospective executive talent along with addressing the capital funding needs for your business. <br />
<br />
Jack Spain</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-74528319572891759052011-01-26T08:41:00.000-05:002011-01-26T08:41:27.585-05:00Spain Business Advisors recruiting Client Advisor & Senior Advisors<span style="font-family: Georgia, "Times New Roman", serif;">I am currently recruiting for a </span><a href="http://www.spaintechnovative.com/Careers.html"><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Client Advisor</strong></span></a><span style="font-family: Georgia, "Times New Roman", serif;"> and </span><a href="http://www.spaintechnovative.com/Careers.html"><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Senior Advisors</strong></span></a><span style="font-family: Georgia, "Times New Roman", serif;"> in the <strong><em>Raleigh-Durham</em></strong>, North Carolina region for my Master Office with </span><a href="http://www.personalbusinessadvisors.com/"><span style="font-family: Georgia, "Times New Roman", serif;">Personal Business Advisors</span></a><span style="font-family: Georgia, "Times New Roman", serif;"> (PBA). The position description and requirements are outlined on the </span><a href="http://www.jackspain.com/index.html"><span style="font-family: Georgia, "Times New Roman", serif;"><em>Spain Business Advisors</em></span></a> <span style="font-family: Georgia, "Times New Roman", serif;">website. <div> </div><div>PBA identifies alternatives to traditional employment in our volatile executive job market. We are executive matchmakers, connecting executives to entrepreneurial opportunities across the globe and represent the world's largest supermarket of opportunities for business professionals seeking alternative career strategies. Since 2002, we have developed an extensive portfolio of business opportunities that have been carefully vetted to include career opportunities that meet the following criteria: </div><ul><li>Appeal to senior level professionals and executives</li>
<li>Provide a six-figure income opportunity</li>
<li>Recession-proof and/or recession-resistant </li>
<li>Possess a solid business plan </li>
</ul><div>Advisors identify business options that may be of interest to prospective executive candidates. We do not charge a fee for our service. We have thousands of opportunities in our portfolio that span across all major industries. </div><div> </div><div>Jack Spain</div></span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-62833827251372381022011-01-10T18:22:00.000-05:002011-01-10T18:22:54.451-05:00The Cost of Interruptions: the business case for Telecommuting & Virtual Offices<span style="font-family: Georgia, "Times New Roman", serif;">A brief </span><a href="http://www.fastcompany.com/"><span style="font-family: Georgia, "Times New Roman", serif;">Fast Company</span></a><span style="font-family: Georgia, "Times New Roman", serif;"> article caught my attention recently titled, “</span><a href="http://www.fastcompany.com/1706458/no-interruptions-day"><span style="font-family: Georgia, "Times New Roman", serif;">No Interruptions Day</span></a><span style="font-family: Georgia, "Times New Roman", serif;">”. The author reminds the readers of the frightful reality that “The average office worker is interrupted – by coworkers, emails, or phone calls – every 11 minutes. Even worse is that it takes basically that much time to refocus on the task at hand.” If you do the math, this equates to over 40 interruptions per day, and many hours of unproductive time spent attempting to refocus on the task at hand. <br />
<br />
The business case for telecommuting and virtual offices becomes even stronger if you also factor in typical commute times which may vary from minutes to hours in large metropolitan cities. The bottom line is that working in a virtual office often results in more productive and satisfied workers with who have the advantage of dozens if not hundreds of hours more fruitful hours per year. <br />
<br />
My experience working as a member of several large teams within a virtual office environment over the past six years had proven to me that this workforce model is considerably more productive and effective for many jobs. Of course, there are many jobs that require working from a designated location or a fully collaborative environment – including retail and customer-facing positions and software engineers – but it is a proven and very beneficial model for many knowledge workers. <br />
<br />
Has anyone else experienced higher productivity as the result of working in a virtual office environment?<br />
<br />
Jack Spain</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-75127553296171963502011-01-04T09:43:00.015-05:002011-01-04T09:57:32.336-05:00Launch of Spain Business Advisors to Identify Career Opportunities for Executives<div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><span style="font-family: Calibri;">After several months of exploring new professional opportunities in the second half of 2010, I made a decision to acquire a license to represent </span><a href="http://www.personalbusinessadvisors.com/"><b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Personal Business Advisors</span></b></a><span style="font-family: Calibri;"> (<b style="mso-bidi-font-weight: normal;">PBA</b>) in early December 2010. As a <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">Senior Advisor</i></b> with PBA, I advise and assist executives and senior level professionals to identify and evaluate new non-traditional business and career opportunities. </span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><span style="font-family: Calibri;">As a result of the current economic challenges that we all have personally experienced over the past several years, demand for my independent consulting services <i style="mso-bidi-font-style: normal;">(<a href="http://www.spaintechnovative.com/">Spain Technovative Solutions</a>, launched in early 2005)</i> began declining in the second quarter of 2010. Beginning last summer, I leveraged my professional network extensively and evaluated several dozen potential new business opportunities including:</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.5in; mso-list: l1 level1 lfo2;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: Calibri;">Delivering consulting and business coaching services to previous clients</span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l1 level1 lfo2;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: Calibri;">Identifying new prospective consulting clients</span></div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.5in; mso-list: l1 level1 lfo2;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><span style="font-family: Calibri;">Applying for numerous full-time “traditional” jobs in the RTP area</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><span style="font-family: Calibri;">The results from my active job search over several months did not result in a single response from any of the prospective employers where I had sent resumes and cover letters. I also received consistent responses from prospective consulting clients that they were not in a financial position to engage outside services at this time. My ultimate business decision to partner with PBA was also influenced by these factors:</span></div><ol><li><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.5in; mso-list: l2 level1 lfo3;"><span style="font-family: Calibri;">I was interested in exploring options that would provide me with greater control over my own professional destiny</span></div></li>
<li><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l2 level1 lfo3;"><span style="font-family: Calibri;">I have considerable recruiting experience having reviewed thousands of resumes and interviewed and hired hundreds of professionals at all levels for over 30 years</span></div></li>
<li><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l2 level1 lfo3;"><span style="font-family: Calibri;">I have been working independently from a home office for six years and preferred to continue to work in a virtual versus a traditional business office environment</span></div></li>
<li><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l2 level1 lfo3;"><span style="font-family: Calibri;">I have been very active in professional networking since I relocated to Research Triangle Park and have connected dozens of professionals with new career opportunities over the past 15 years</span></div></li>
<li><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l2 level1 lfo3;"><span style="font-family: Calibri;">I have a strong professional network to help jumpstart my new role as a Senior Advisor supporting successful business professionals</span></div></li>
<li><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.5in; mso-list: l2 level1 lfo3;"><span style="font-family: Calibri;">I am energized about initiating a new business venture, especially one where I could potentially receive tremendous satisfaction from making a positive difference in other people’s lives</span></div></li>
</ol><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><span style="font-family: Calibri;">Of course the current jobs outlook weighed in on my decision as well. In the past few months, dozens of news stories have reinforced this career decision including the following recent posts:</span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">“</span></i><a href="http://www.businessweek.com/magazine/content/10_52/b4209031495106.htm"><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">…the total labor underutilization of the economy—climbs to 17 percent.</span></i></a><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">”</span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><a href="http://www.bizjournals.com/buffalo/news/2010/12/29/jobless-rate-hits-peak-in-30-of-markets.html?ana=e_pft#ixzz19tpasTmB"><span style="color: blue; font-family: Calibri;">Unemployment rate hits 10-year peak in 112 U.S. markets</span></a><span style="font-family: Calibri;"> </span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><a href="http://localtechwire.com/business/local_tech_wire/news/blogpost/8837837/"><span style="mso-bidi-font-weight: bold;"><span style="font-family: Calibri;">Small companies are the big job generators</span></span></a><span style="mso-bidi-font-weight: bold;"></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><a href="http://economictimes.indiatimes.com/news/international-business/84pc-US-employees-plan-to-look-for-a-new-job-in-2011-Survey/articleshow/7111998.cms"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-weight: bold;"><span style="font-family: Calibri;">“…While only 5 per cent of employees said they intend to remain in their current position and the remaining 11 per cent are not sure about their decision</span></span></i></a><span style="font-family: Calibri;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-weight: bold;">”</span></i><span style="mso-bidi-font-weight: bold;">.</span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">“</span></i><a href="http://www.businessweek.com/magazine/content/10_52/b4209031495106.htm"><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">The proportion of men and women 25-34 living at home is closer to the 1950 rate than the 2000 rate</span></i></a><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">”</span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">“</span></i><a href="http://images.businessweek.com/mz/10/50/1050_20globalrecovery.pdf?chan=magazine+channel_news+-+global+economics"><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">Although the U.S. is projected to reach its 2008 peak in output, employment isn’t expected to recover for a long time</span></i></a><i style="mso-bidi-font-style: normal;"><span style="font-family: Calibri;">.”</span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><a href="http://www.huffingtonpost.com/2010/12/17/unemployed-long-term_n_798196.html"><span style="mso-bidi-font-weight: bold;"><span style="font-family: Calibri;">Long-Term Unemployed: 6 In 10 Jobless Have Searched For More Than A Year, As Hopelessness Sets In</span></span></a><span style="mso-bidi-font-weight: bold;"><span style="font-family: Calibri;"> </span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><a href="http://www.usatoday.com/news/nation/2010-12-28-1Ajobless28_ST_N.htm?loc=interstitialskip"><span style="mso-bidi-font-weight: bold;"><span style="font-family: Calibri;">U.S. changes how it measures long-term unemployment</span></span></a><b></b></div><div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><a href="http://money.cnn.com/2010/12/10/news/economy/long_term_unemployment.fortune/index.htm"><span style="mso-bidi-font-weight: bold;"><span style="font-family: Calibri;">What happens when the jobless give up?</span></span></a><span style="mso-bidi-font-weight: bold;"></span></div><div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1;"><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt "Times New Roman";"> </span></span></span><a href="http://www.usatoday.com/money/perfi/retirement/2010-12-07-1Aboomerretire07_CV_N.htm"><span style="mso-bidi-font-weight: bold;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"> </span>Working past 65: Boomers face job challenges in senior years</span></span></a><span style="mso-bidi-font-weight: bold;"></span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><span style="font-family: Calibri;">Beginning in early 2011, I will be building a team of Advisors at </span><a href="http://www.jackspain.com/"><b style="mso-bidi-font-weight: normal;"><span style="color: blue; font-family: Calibri;">Spain Business Advisors</span></b></a><span style="font-family: Calibri;"> that are committed to empowering senior-level professionals to identify exciting new career opportunities. </span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><span style="font-family: Calibri;">I wish all my former colleagues and professional contacts tremendous success in 2011 and beyond as our great country emerges from a long and challenging economic recession. Please contact me if you have any interest in exploring new business opportunities or know of any unemployed or underemployed associates that may be interested in evaluating new, exciting non-traditional career options. </span></div><div class="MsoNormal" style="margin: 0in 0in 0pt; text-indent: 0in;"><br />
</div><span style="font-family: "Calibri", "sans-serif"; font-size: 12pt; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-size: 11.0pt; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Jack Spain</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com1tag:blogger.com,1999:blog-8802170125063964281.post-65742784306287651962010-12-16T11:31:00.025-05:002010-12-20T11:39:03.092-05:00A Balanced Scorecard Template for Tech Transfer Offices<span style="font-family: Georgia, "Times New Roman", serif;">It is generally accepted that establishing specific goals in conjunction with a process to measure an organization’s progress against those goals is a critical factor in achieving desired results. There are a variety of techniques that have been used over decades to establish, track, and report on organizational performance objectives. In the early 1990’s, Robert S. Kaplan and David P. Norton introduced a novel approach, the Balanced Scorecard, to supplement the traditional one-dimension set of financial figures that most organizations utilized. <div> </div><div>The Balanced Scorecard is a methodology to define a holistic set of goals across an organization. Over the past few decades this model has been adapted by numerous enterprises across many industries. The foundation of this methodology is built on four categories or “perspectives” that Kaplan and Norton defined to track results. These categories include: </div><ul><li><strong>Financial Perspective</strong>. The Financial perspective includes measures that indicate whether an organization is achieving key bottom-line results. For traditional commercial organizations, these metrics typically include profitability and revenue growth. </li>
<li><strong>Customer Perspective</strong>. The Customer perspective includes measures that monitor the value proposition that an organization delivers to its target customers. Commercial organizations would typically enumerate goals that include market share, customer satisfaction, and customer loyalty. </li>
<li><strong>Internal Process Perspective</strong>. The Internal Process perspective includes measures that track how effectively an organization is performing. Often times enterprises target what an organization is striving to excel in to support their customers. Commercial organizations typically focus on quality and efficiency initiatives. </li>
<li><strong>Learning and Growth Perspective</strong>. The Learning and Growth perspective includes measures on internal organizational investments to improve their performance in the other three areas. Commercial organizations may focus in internal employee satisfaction, staff turnover, training, and improvements in their overall bench strength. </li>
</ul><div>While many of the leading examples of utilizing a Balanced Scorecard highlight global 2000 commercial companies, this tool is also just as effective within government and public service organizations; and non-profit entities; and academic institutions, including Technology Transfer Offices (TTOs). The various perspectives that an organization will elect to monitor and measure are aligned with the overall vision, mission, and goals established by the enterprise. </div><div> </div><div>In addition to being a widely accepted best practice for establishing and measuring progress towards enterprise goals, there are a number of benefits for using a Balanced Scorecard to increase the performance of your organization including:</div><ul><li>Helps to focus and align an entire organization on what must be accomplished to ensure the overall success of the enterprise. </li>
<li>Translates overarching goals and objectives into tangible results that an organization aims to achieve over a set time period.</li>
<li>Provides enterprise management with a comprehensive yet succinct view of the overall operation.</li>
<li>Serves as a very effective communications vehicle to communicate performance results to all team members.</li>
</ul><div>Every organization will likely have a unique set of performance indicators that are usually modeled from a set of industry-accepted metrics as well as being directly aligned with the goals and objectives of their institution. For TTOs, that would typically include metrics on deals, industry collaborations, patent filings, invention disclosures, and outreach initiatives. If your institution or enterprise is already following the Balanced Scorecard approach, it is advisable to use align your Balanced Scorecard with your institution while using more granular goals to focus on your organization’s specific contributions to the overall mission and goals of the institution.</div><div> </div><div>Through our research for clients over the past decade, I have developed a set of standard metrics for TTOs and have adapted them to the Balanced Scorecard framework. Included below is a <strong><em>template</em></strong> for a <strong>TTO Balanced Scorecard</strong>. </div><div> </div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1CQwrLeGL9sS3nIVWarJZP94vkJvZnMm9zQtZuqVatmQs9X4Z5SlT2HpqB0NVZm4yDgUAEjpbwlQfcBrMn6t9IqlJDIoEMWcrw4g3YDsUIxVH4c3oFFF-jsb3fn5FQM_bS-5GcckaT6I/s1600/score-card2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="129" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1CQwrLeGL9sS3nIVWarJZP94vkJvZnMm9zQtZuqVatmQs9X4Z5SlT2HpqB0NVZm4yDgUAEjpbwlQfcBrMn6t9IqlJDIoEMWcrw4g3YDsUIxVH4c3oFFF-jsb3fn5FQM_bS-5GcckaT6I/s320/score-card2.jpg" width="320" /></a></div><div> </div><div>Once you have identified your key performance indicators for your organization, it is critical to implement a process and define roles and responsibilities to capture the metrics, review the results, and to proactively develop a corrective action plan to address shortfalls with any of your key measures. It is also advisable to incorporate relevant performance goals from your Balanced Scorecard into each staff members’ annual performance reviews. Institutionalizing a process with appropriate accountabilities and follow-through is an important ingredient to deliver positive results on a consistent basis. </div><div> </div><div>In summary, you can implement the Balanced Scorecard methodology in your TTO with the following steps: </div><ol><li>Outline your plan to implement a Balanced Scorecard for your office.</li>
<li>Conduct research on industry standard technology transfer key performance objectives and familiarize yourself with your current enterprise goals.</li>
<li>Identify your organization’s performance indicators.</li>
<li>Establish your annual target goals for each performance indicator.</li>
<li>Implement a review, response, and communication process for your TTO Balanced Scorecard.</li>
</ol><div>Have you implemented an annual goals and accomplishments reporting mechanism? Are you currently using a Balanced Scorecard approach for your TTO? If so, has it been effective in motivating and aligning your organization?</div><div> </div><div>—By Jack Spain</div></span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-42826801289927558352010-11-18T07:40:00.002-05:002010-11-20T07:47:49.834-05:00Staying on TOP of your IP Asset Management Database System Project: Part IV – Process<span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><i>Editor’s Note: This is the fourth and final post in this series examining our lessons learned from managing IP Asset Management database system migration projects. </i><br />
<br />
As I noted in the first post in this series, there are three critical building blocks to position your organization to stay on <b>TOP </b>of your migration to a new IPAM solution:<br />
</span><br />
<ul><li><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><b><span class="Apple-style-span" style="font-size: large;">Technology</span> </b>– Selecting the right technology and technology solution partners. </span></li>
<span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">
<li><b><span class="Apple-style-span" style="font-size: large;">Organization </span></b>– Anticipating the impact to your organization and proactively developing and implementing a successful change management program. </li>
<li><b><span class="Apple-style-span" style="font-size: large;">Process </span></b>– Assembling the right project team and developing a practical project plan to position your organization for a successful implementation. </li>
</span></ul><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg91UKsS32mMgFaK2tt-XKJAV_to7OpCIuYbP5bj82uXsG0k1Fd3DGnCj780WBAIXWKTk5xhdn4IkMa979uP9PWUzMcYeGXzbCW_v4dc9B0XkulVyAQYy_ZxObZpxEKDZjSfzIGdIOE3l8/s1600/IP+Asset+Management+Database+Implementation+(TOP).jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg91UKsS32mMgFaK2tt-XKJAV_to7OpCIuYbP5bj82uXsG0k1Fd3DGnCj780WBAIXWKTk5xhdn4IkMa979uP9PWUzMcYeGXzbCW_v4dc9B0XkulVyAQYy_ZxObZpxEKDZjSfzIGdIOE3l8/s320/IP+Asset+Management+Database+Implementation+(TOP).jpg" width="320" /></a></div><div><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><br />
</span></div>In this posting I will elaborate on the “<b>Process</b>” component. This is another challenging element of any large project. Key aspects of this element include assembling a project team; empowering them and positioning them for success; and investing the time to develop a realistic project plan. Specific best practices relative to the Process building block include:<br />
<br />
1. Understand that you will undoubtedly underestimate the <b>resource and schedule requirements</b> for all systems projects. It is also very easy to underestimate the extent of <b>legacy data migration</b> and <b>system integration challenges</b> – especially if there have been multiple generations / versions of your current software solution. This is generally not complex but requires attention to detail and careful follow-through.<br />
</span><br />
<div><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">2. Manage expectations for your<b> project team</b> to be <b>accountable for the project beyond the initial implementation</b> to ensure that all your key project goals are achieved. It is extremely difficult not to get distracted and return to “business as usual” (i.e. your normal day job) after the initial implementation of a major technology solution.<br />
</span><br />
<div><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">3. Ensure that your <b>project team</b> has accountability for all aspects of your system migration. Key <b>roles</b> to consider include:<br />
<br />
a. <b>Program Manager</b>: Responsible for project schedule, technical architecture, software and hardware platforms selection, project communications, change management<br />
<br />
b. <b>Process Manager</b>: Responsible for planning and updating your key operational processes in alignment with changes, constraints, and opportunities provided by your new IPAM solution<br />
<br />
c. <b>Data Manager</b>: Oversee the legacy data migration into the new system and the new data standards that you will implement to take full advantage of your new system<br />
<br />
4. Be proactive in your <b>vendor communications</b> with proactive communications to continue to <b>align perceptions</b>, <b>expectations</b>, <b>goals</b>, and <b>objectives</b> to ensure a success outcome for both parties.<br />
<br />
How successful has your organization planning and executing systems implementations within your institution? Have you documented and taken action on your lessons learned? What lessons learned have surprised you?</span></div></div>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-52428779904791855602010-11-15T11:33:00.002-05:002010-11-15T11:36:49.123-05:00Staying on TOP of your IP Asset Management Database System Project: Part III – Organization<span style="font-family: Georgia, "Times New Roman", serif;"><em>Editor’s Note: This is the third post in a four-part series examining our lessons learned from managing IP Asset Management database system migration projects. </em></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">As I noted in the first post in this series, there are three critical building blocks to position your organization to stay on <strong>TOP</strong> of your migration to a new IPAM solution: </span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;"><strong><span style="font-size: large;">Technology</span></strong> – Selecting the right technology and technology solution partners.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong><span style="font-size: large;">Organization</span></strong> – Anticipating the impact to your organization and proactively developing and implementing a successful change management program.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong><span style="font-size: large;">Process</span></strong> – Assembling the right project team and developing a practical project plan to position your organization for a successful implementation.</span></li>
</ul><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg91UKsS32mMgFaK2tt-XKJAV_to7OpCIuYbP5bj82uXsG0k1Fd3DGnCj780WBAIXWKTk5xhdn4IkMa979uP9PWUzMcYeGXzbCW_v4dc9B0XkulVyAQYy_ZxObZpxEKDZjSfzIGdIOE3l8/s1600/IP+Asset+Management+Database+Implementation+(TOP).jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" px="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg91UKsS32mMgFaK2tt-XKJAV_to7OpCIuYbP5bj82uXsG0k1Fd3DGnCj780WBAIXWKTk5xhdn4IkMa979uP9PWUzMcYeGXzbCW_v4dc9B0XkulVyAQYy_ZxObZpxEKDZjSfzIGdIOE3l8/s320/IP+Asset+Management+Database+Implementation+(TOP).jpg" width="320" /></a></div><div><span style="font-family: Georgia, "Times New Roman", serif;">In this posting I will elaborate on the “<strong>Organization</strong>” component. This is often the most challenging element with the greatest impact on the overall success of your project. Specific best practices relative to the Organization building block include:</span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">1. It is imperative to be proactive and diligent to <strong>manage expectations and perceptions</strong> from your initial planning through the post-implementation phase of the project – especially if you are migrating from a custom, proprietary solution to a commercial software solution. This is especially true from a features, functions, and capabilities perspective. You need to ensure that the ultimate end-users have a realistic set of expectations regarding how and what the new system will do for them and that interacting with your new IPAM system will be a different experience.</span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">2. Do not underestimate the <strong>change management</strong> impact on your organization and be careful NOT to introduce other organizational or process changes simultaneously if possible. Effective change management best practices include:</span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">a. Maintaining a firm grasp of the current <strong>realities</strong>, challenges, and opportunities across your institution; </span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">b. Assuring that the appropriate energy, priority, and <strong>focus</strong> are maintained on your migration project until the desired results and key milestones have been achieved; </span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">c. Planning to ensure that you have assembled the right <strong>skills</strong> and talent on the project team to ensure that the organization will meet its overall goals (explored in more detail in next post); </span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">d. Striving continuously to provide feedback and open <strong>communications</strong>;</span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">e. Establishing the foundation to set and manage expectations for effective and reliable project <strong>execution</strong>; and </span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">f. Striving to persevere to <strong>institutionalize</strong> the desired changes from your systems migration effort. </span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">3. Carefully plan for <strong>just-in-time training</strong> for all staff members impacted from your systems migration. This can be challenging to orchestrate, but it is important to train your system users simultaneously with granting them access to your new system. If you train too early, it could potentially cost you a tremendous amount of time in support costs over the long term. If you train too late, you are potentially confronted with confronting negative impressions about your new IPAM system because they were not properly prepared to deal with the changes. Remember that first impressions can be extremely difficult to change. </span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">4. If your system implementation is going to impact several organizations across your institution, engage key members from these organizations upfront as a <strong>spokesperson</strong> and member of your project evaluation and implementation team. They should be engaged and supportive and often bring a new and valuable perspective to your team.</span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div><span style="font-family: Georgia, "Times New Roman", serif;"></span></div><div></div><div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">How successful has your organization been in assessing and managing the impact of new systems implementation across your institution? What are your key lessons learned? Please check back in a few days for the next installment in this series.</span></div>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-62798448067157614902010-11-04T14:23:00.000-04:002010-11-04T14:23:01.775-04:00Staying on TOP of your IP Asset Management Database System Project: Part II – Technology<span style="font-family: Georgia, "Times New Roman", serif;"><em>Editor’s Note: This is the second post in a <a href="http://spaintechnovative.blogspot.com/2010/11/staying-on-top-of-your-ip-asset.html">four-part series</a> examining our lessons learned from managing IP Asset Management (IPAM) database system migration projects.</em> <div> </div><div>As I noted in the first post in this series, there are three critical building blocks to position your organization to stay on TOP of your migration to a new IPAM solution:</div><ul><li><strong>Technology</strong> – Selecting the right technology and technology solution partners.</li>
<li><strong>Organization</strong> – Anticipating the impact to your organization and proactively developing and implementing a successful change management program.</li>
<li><strong>Process</strong> – Assembling the right project team and developing a practical project plan to position your organization for a successful implementation.</li>
</ul><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg91UKsS32mMgFaK2tt-XKJAV_to7OpCIuYbP5bj82uXsG0k1Fd3DGnCj780WBAIXWKTk5xhdn4IkMa979uP9PWUzMcYeGXzbCW_v4dc9B0XkulVyAQYy_ZxObZpxEKDZjSfzIGdIOE3l8/s1600/IP+Asset+Management+Database+Implementation+(TOP).jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" px="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg91UKsS32mMgFaK2tt-XKJAV_to7OpCIuYbP5bj82uXsG0k1Fd3DGnCj780WBAIXWKTk5xhdn4IkMa979uP9PWUzMcYeGXzbCW_v4dc9B0XkulVyAQYy_ZxObZpxEKDZjSfzIGdIOE3l8/s320/IP+Asset+Management+Database+Implementation+(TOP).jpg" width="320" /></a></div><div>In this posting I will elaborate on the “Technology” element. This is the quite often the easy part – but the one element where we tend to focus most of our time and energy. Assuming that you are not developing your own IPAM solution using in-house resources, I recommend that you do not get overly immersed in specific features and functions of a new system. It is more important to select a qualified strategic partner that will support you throughout the life cycle of your solution. Specific best practices relative to the Technology building block include: </div><ol><li>Invest sufficient time to thoroughly understand and document your institutional / enterprise intellectual property management and integration <strong>requirements</strong>. Your requirements should be ranked and prioritized to assist you in the evaluation and selection process. You do not want to place any more emphasis than justified on features and functions that are desirable or “nice to have”, especially if they distract the focus on your core requirements. </li>
<li>Develop an <strong>evaluation matrix</strong> or tool with weighted requirements where you and rate and rank key solution features along with the qualifications of your vendors. </li>
<li>You should also invest a commensurable effort into evaluating your target <strong>solution vendors</strong>. Consider not only what the vendor is offering today, but examine their track record, the stability and effectiveness of their leadership team, company culture, market leadership, and ultimately the ability to support your organization on a long-term basis. </li>
<li>It is also essential that you interview current customers as <strong>references</strong> for your top candidate solutions. Ideally, these are not just a unique set of “raving fans” – but a cross-section of clients that have similar requirements with your institution. </li>
</ol><div>How successful has your organization been in identifying both the right technology solution and technology partner for your institution? What are your key lessons learned? Please check back in a few days for the next installment in this series.</div></span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-12302770481126524342010-11-01T13:47:00.026-04:002010-11-01T14:02:40.111-04:00Staying on TOP of your IP Asset Management Database System Project: Part I – Introduction<span style="font-family: Georgia, "Times New Roman", serif;"><em>Editor’s Note: This is the first in a four-part series examining our lessons learned from managing IP Asset Management database system migration projects. This overview will be followed by posts that focus on the three critical elements of a successful systems implementation. Visit our blog each Monday to follow this series. </em><br />
<br />
Making a decision to investigate and evaluate alternatives to your IP Asset Management (IPAM) database system is a very challenging and often underestimated endeavor. In my previous posting on </span><a href="http://spaintechnovative.blogspot.com/2010/09/utilizing-ip-asset-management-database.html"><span style="font-family: Georgia, "Times New Roman", serif;">Utilizing an IP Management Database to Enhance Your Marketing Efforts</span></a><span style="font-family: Georgia, "Times New Roman", serif;">, I provided the business case for utilizing a robust IPAM solution for your Technology Transfer Office (TTO). There are a number of drivers that might prompt your organization to consider migrating to a new solution at this time including:</span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;">Migrating to a Web-based IPAM solution that is more intuitive, is easier to access, maintain, and enhanceI</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Migrating to a new IPAM solution that provides higher reliability, improved customer service, and/or is more cost effective</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Migrating to a more robust IPAM solution that will scale to meet the increased volume of transactions that your office is managing and provide you with comprehensive reporting and management capabilities</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Migrating to a more comprehensive IPAM solution that provides support across your entire Intellectual Property life cycle </span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">When initiating a project to implement a new IPAM database solution, it is essential to stay on TOP of your mission by carefully planning for the following three critical areas to position you for success:</span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;"><strong><span style="font-size: large;">Technology</span></strong> – Selecting the right technology and technology solution partners.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong><span style="font-size: large;">Organization</span></strong> – Anticipating the impact to your organization and proactively developing and implementing a successful change management program.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong><span style="font-size: large;">Process</span></strong> – Assembling the right project team and developing a practical project plan to position your organization for a successful implementation.</span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;"><div style="text-align: center;"><br />
</div><br />
<span style="font-family: Georgia;"><span style="font-family: Times New Roman;">I</span>n subsequent blog postings, I will elaborate on the key elements of Technology, Organization, and Process to consider prior to initiating the evaluation, selection, and implementation process of your new IPAM solution. <br />
<br />
What challenges have you faced while migrating to a new IPAM solution?</span></span><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg91UKsS32mMgFaK2tt-XKJAV_to7OpCIuYbP5bj82uXsG0k1Fd3DGnCj780WBAIXWKTk5xhdn4IkMa979uP9PWUzMcYeGXzbCW_v4dc9B0XkulVyAQYy_ZxObZpxEKDZjSfzIGdIOE3l8/s1600/IP+Asset+Management+Database+Implementation+(TOP).jpg"><span style="font-family: Georgia, "Times New Roman", serif;"><img height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg91UKsS32mMgFaK2tt-XKJAV_to7OpCIuYbP5bj82uXsG0k1Fd3DGnCj780WBAIXWKTk5xhdn4IkMa979uP9PWUzMcYeGXzbCW_v4dc9B0XkulVyAQYy_ZxObZpxEKDZjSfzIGdIOE3l8/s320/IP+Asset+Management+Database+Implementation+(TOP).jpg" width="320" /></span></a>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-54228204919731560942010-09-30T19:24:00.000-04:002010-10-26T19:29:11.044-04:00Formula for SMART Growth for Technology-based Firms<span style="font-family: Georgia, "Times New Roman", serif;">In my experience, I have identified the following characteristics of businesses that have been successful in emerging from start-up phase into a sustained growth stage with efficient, managed growth. These fundamental characteristics of successful growth businesses include:</span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Strategy-based</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Market-based</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Alignment-based</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>ROI-based</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Technology Innovation-based</strong></span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">Additional success attributes include a placing a priority on the following building blocks (not necessarily in this sequence):</span><br />
<ol><li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>accountability</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>action-orientation</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>cash flow</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>client acquisition</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>client service</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>empowerment</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>leadership</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>listening</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>metrics</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>perseverance</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>prioritization</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>quality</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>relationships</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>results</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Emphasis on <strong>root cause analysis</strong></span></li>
</ol><span style="font-family: Georgia, "Times New Roman", serif;">While formalities like organization structure, policies, and procedures are necessary to some degree for any successful business, it is imperative that there is not too much focus on certain aspects of growing a technology business that will ultimately impede growth. Based on my experience, I recommend that leaders implement:</span><br />
<ol><li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough</em> <strong>communication</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough </em><strong>governance</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough </em><strong>information</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough </em><strong>infrastructure</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough </em><strong>oversight</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough </em><strong>planning</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough </em><strong>process</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough </em><strong>resources</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough </em><strong>structure</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Just enough </em><strong>technology</strong></span></li>
</ol><span style="font-family: Georgia, "Times New Roman", serif;">Of course, any experienced business leader recognizes that maintaining a consistent focus on each of these elements is a daunting task. I will provide additional details and guidelines on each of these best practices in future blog posts. Please contact me with questions and to share best practices from your own personal experiences in growing successful businesses.</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-49907608704564477792010-09-02T19:15:00.002-04:002010-10-27T08:43:37.523-04:00Utilizing an IP Asset Management Database to Enhance Your Marketing Efforts – Part II<span style="font-family: Georgia, "Times New Roman", serif;"><em>Editor’s Note: This is the second and final post in a two-part series examining the best practices that we have captured from utilizing an IP Asset Management (IPAM) database system to support our IP marketing and commercialization initiatives.</em></span><br />
<br />
<span style="font-family: Georgia, "Times New Roman", serif;">As I noted in my previous post on this topic, our experience with an IPAM database system over the past decade has provided us with the following set of best practices:</span><br />
<ol><li><span style="font-family: Georgia, "Times New Roman", serif;">Establishing and following clear, concise, and consistent classification schemes;</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Incorporating full-featured search capabilities;</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Integrating workflow management capabilities;</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Including reporting tools for staff productivity and efficient project tracking;</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Investing in proper training and mentoring for your staff; and</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Adhering to your institution’s technology guidelines.</span></li>
</ol><span style="font-family: Georgia, "Times New Roman", serif;">This posting will address the final three best practices in this area.<br />
<br />
<strong>4. Reporting and Project Management</strong><br />
</span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Effective reporting capabilities assist your staff in increasing their personal productivity and should be a vital tool to assist your organization in achieving your specific goals and objectives. Well-designed reporting tools provide the ability to quickly and easily obtain status information on all aspects across your technology portfolio along with satisfying your management reporting requirements. Your reporting features should provide excellent visibility and transparency across your IPAM database solution to avoid a “black whole” scenario where you know the data is in there somewhere but you just cannot locate it no matter how hard you try.<br />
<br />
A business analytics software tool can provide your organization with a strategic advantage when you use the tool to assist in identifying trends and mine additional opportunities for licensing and partnerships throughout your portfolio that is captured in your IPAM database. Powerful reporting tools should also provide you with the foundation for effective project management to ensure that you are maximizing your deal potential and minimizing the surprises that you have to react to.<br />
<br />
<strong>5. Staff Training and Mentoring</strong><br />
</span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Implementing a world-class IPAM database solution without proper training and support for your team will only result in frustrated and dissatisfied staff, inaccurate or incomplete information in the database, and negative impact on your organization’s productivity. Effective training is planned and delivered at the right time, with the right amount, at the right level, and in the right place. High-tech web-based, multimedia tools can be very efficient and cost effective for training option for your staff and should be accompanied by a high-touch connection that includes mentoring from your senior staff members and system experts.<br />
<br />
<strong>6. Technology Guidelines</strong><br />
</span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">We encourage each organization to engage your information technology professionals in the planning and selection process to ensure compliance with your IT architecture, cyber security, technology, and product guidelines, standards, and procedures. Ideally, today your IPAM software solution should be web-based to facilitate access and should be supported by a standard commercial or open-source database along with development languages that are endorsed by your technology support organization. There are a number of installed (in-house) or Software-as-a-Service (SaaS or hosted) commercially available solutions today. If you are using or planning to use a commercial IPAM solution, you should request responses from your solution vendor to the following questions:</span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;">What is the support process and the depth and qualifications of your support organization?</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">What is the process to request enhancements and what is your track record for publishing new software releases?</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Are you using a users’ group or steering committee that includes customers to prioritize new features?</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Do you provide a forum with other IPAM system users to share best practices?</span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">Successfully commercializing a vast and diverse portfolio of technologies is a fundamental and often daunting undertaking for all technology transfer offices. World-class organizations seek out and capitalize on best practices within their offices and across the industry. We firmly believe that properly utilizing your IPAM database solution – while having the discipline to adhere to your processes and procedures – will have a positive impact on the overall success of your organization’s technology commercialization initiatives.</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-70934543329938308752010-09-01T19:12:00.001-04:002010-10-27T08:44:31.266-04:00Utilizing an IP Asset Management Database to Enhance Your Marketing Efforts – Part I<span style="font-family: Georgia, "Times New Roman", serif;"><em>Editor’s Note: This is the first post in a two-part series examining the best practices that we have captured from utilizing an IP Asset Management (IPAM) database system to support our IP marketing and commercialization initiatives.</em><br />
<br />
During our many years of hands-on experience in generating scores of licenses and successful partnership agreements for clients since 2001, Fuentek has relied on an intellectual property asset management (IPAM) database to support our core marketing process. We have found that this database, along with a collection of other best practices for marketing IP, has played a key role in our success in the commercialization of innovations across a diverse array of technology categories for universities, federal government labs, and commercial companies.<br />
<br />
Maintaining an effective IP management database system positions your tech transfer organization to proactively monitor and manage your marketing initiatives and thereby get maximum value from your IP portfolio. A well-designed and successfully implemented IPAM database system facilitates communication, fosters collaboration, and is an invaluable tool to ensure consistent adherence to your licensing process.<br />
<br />
Each of the commercial and proprietary IPAM database solutions currently available have their inherent advantages and disadvantages. However, we have found that the crucial factor to achieving maximum value from whatever database system you choose is discipline. The value ultimately delivered from your IPAM database solution depends upon the entire organization diligently adhering to approved procedures and entering your IP-related data into your database in a consistent fashion.<br />
<br />
Our experience with an IPAM database system over the past decade has provided us with the following set of best practices:</span><br />
<ol><li><span style="font-family: Georgia, "Times New Roman", serif;">Establishing and following clear, concise, and consistent classification schemes;</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Incorporating full-featured search capabilities;</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Integrating workflow management capabilities;</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Including reporting tools for staff productivity and efficient project tracking;</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Investing in proper training and mentoring for your staff; and</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Adhering to your institution’s technology guidelines.</span></li>
</ol><span style="font-family: Georgia, "Times New Roman", serif;">This posting will outline the first three best practices in this area.<br />
<br />
<strong>1. Classification Schemes</strong><br />
</span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">We have found that it is very beneficial to establish—and have the discipline to maintain—standard attributes for each of the technologies within your IP portfolio. These standard taxonomies for categorizing and organizing your technologies are a key prerequisite for incorporating an effective search capability within your IPAM database solution. Our experience has proven that investing time up-front to appropriately classify your technology assets is a prudent investment. Ensuring easy access to all the elements within your technology portfolio enables your team to become more efficient while positioning your technology managers for more effective decision-making by fully capitalizing on your institutional knowledge captured in your database.<br />
<br />
<strong>2. Comprehensive Search </strong><br />
</span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Another critical feature within an IPAM database solution is a robust search engine that provides your staff with reliable result set with elements throughout your entire database, including all database fields and documents. Well-designed comprehensive search capabilities position your staff to mine information from your database and capitalize on lessons learned from your team’s earlier actions and decisions regarding similar technologies. Of course, the overall effectiveness of your search engine is directly related to the diligence and consistency of the attributes that you use to describe and categorize your technologies (i.e. IPAM best practice #1).<br />
<br />
<strong>3. Integrated Workflow Management</strong><br />
</span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Additional benefits can be obtained by integrating at least a rudimentary level of workflow management within your IPAM database system to provide the foundation for efficient collaboration and communications across your organization. Your workflow solution should factor in how you can most efficiently manage the data and documents to support your technology transfer initiatives. Successful workflow solutions promote staff accountability, efficiency, and timely results.<br />
<br />
In my next blog posting, I will elaborate on the next three best practices for using an IPAM database to support your IP marketing efforts. Has your organization attempted to capture and institutional best practices in managing your IPAM database?</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com1tag:blogger.com,1999:blog-8802170125063964281.post-24906603418721287452010-08-30T19:09:00.002-04:002010-10-27T08:47:20.883-04:00Applying the 4 P’s to get to “The Science of the Deal”: Tips on Platform<span style="font-family: Georgia, "Times New Roman", serif;">As I noted in a </span><a href="http://spaintechnovative.blogspot.com/2010/08/applying-4-ps-to-get-to-science-of-deal.html"><span style="font-family: Georgia, "Times New Roman", serif;">previous post</span></a><span style="font-family: Georgia, "Times New Roman", serif;">, STS’s proven Deal-making 4 P’s can position your Technology Transfer Office (TTO) to more consistently and predictably execute licensing agreements for your institution. The Deal-making 4 P’s are: </span><br />
<ol><li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Planning</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>People</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Process</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Platform</strong></span></li>
</ol><span style="font-family: Georgia, "Times New Roman", serif;">Let’s take a closer look at <strong>Platform</strong>. Your TTO can greatly improve efficiency and effectiveness by leveraging modern, low-cost, readily available technology solutions such as IP asset management database applications, calendaring and scheduling, instant messaging, websites, e-mail marketing, Web conferencing, blogs, wikis, microblogging, and other social media tools. It is important that the tools you deploy are intuitive and not overly complex, helping rather than hindering your staff in performing their jobs effectively. Your platform of technology solutions should also be as synergistic as possible to maximize the productivity of your TTO associates. <br />
<br />
Regularly evaluate the return on investment (ROI) your organization is receiving from your technology solutions. Solutions should be evaluated in terms of the delivery of positive results (based on both objective and subjective criteria), as well as an examination of whether they are streamlining or impeding your key processes. Several questions to contemplate in this area include:</span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Has your office invested in technology solutions that support and encourage communication, collaboration, and teamwork throughout your office and across your institution?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Do your tools facilitate workflow and project management? Do you know where each project currently stands and how much time has been invested in it?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Do you have easy and intuitive access to your key databases, or have they become a “black hole” for your critical information? Can you retrieve the patent or marketing status in real time?</em></span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">How does your organization go about rating the overall effectiveness of your chosen technology solutions?</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-83528586634897919692010-08-23T19:06:00.001-04:002010-10-27T08:46:49.429-04:00Applying the 4 P’s to get to “The Science of the Deal”: Tips on Process<span style="font-family: Georgia, "Times New Roman", serif;"></span><span style="font-family: Georgia, "Times New Roman", serif;">As I noted in a </span><a href="http://spaintechnovative.blogspot.com/2010/08/applying-4-ps-to-get-to-science-of-deal.html"><span style="font-family: Georgia, "Times New Roman", serif;">previous post</span></a><span style="font-family: Georgia, "Times New Roman", serif;">, STS’s proven Deal-making 4 P’s can position your Technology Transfer Office (TTO) to more consistently and predictably execute licensing agreements for your institution. The Deal-making 4 P’s are: </span><br />
<ol><li><strong><span style="font-family: Georgia, "Times New Roman", serif;">Planning</span></strong></li>
<li><strong><span style="font-family: Georgia, "Times New Roman", serif;">People</span></strong></li>
<li><strong><span style="font-family: Georgia, "Times New Roman", serif;">Process</span></strong></li>
<li><strong><span style="font-family: Georgia, "Times New Roman", serif;">Platform</span></strong></li>
</ol><span style="font-family: Georgia, "Times New Roman", serif;">Let’s look at <strong>Process</strong> in more detail. STS proposes institutionalizing “just enough” process discipline throughout your TTO to improve your agility and efficiency, and to deliver consistent high-quality services within stated time and resource constraints. Process institutionalization requires a focused and conscious effort to define, document, communicate, and train your staff on key processes within your organization, such as a specific set of criteria that must be met for a start-up to license a technology or the license application forms used for all negotiations. Like the majority of management and leadership responsibilities, the concepts are rather straightforward but can be challenging to execute successfully. <br />
<br />
While it is critical to design a well-conceived process, it is even more important to institutionalize the process to deliver actual results <em>(i.e., licensing deals)</em>. Several questions to contemplate in this area include: </span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Have you developed standard templates to support your evaluation, assessment, marketing, and licensing processes?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Do you provide all potential licensees with the consistent instructions, application forms, and base license agreement templates (with no specific business terms) when they request a license?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Have you cultivated an internal culture that promotes feedback and continuous process improvement?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Do you proactively consider the organizational impact that various changes may have across your operation?</em></span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">What procedures have worked for your organization to define, develop, implement, and institutionalize processes that improve the overall effectiveness of your organization? Leave a comment below, and check back next week for the last installment in this series.</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-24374999275397739792010-08-16T19:03:00.001-04:002010-10-27T08:48:33.663-04:00Applying the 4 P’s to get to “The Science of the Deal”: Tips on People<span style="font-family: Georgia, "Times New Roman", serif;">As I noted in a </span><a href="http://spaintechnovative.blogspot.com/2010/08/applying-4-ps-to-get-to-science-of-deal.html"><span style="font-family: Georgia, "Times New Roman", serif;">previous post</span></a><span style="font-family: Georgia, "Times New Roman", serif;">, STS’s proven Deal-making 4 P’s can position your Technology Transfer Office (TTO) to more consistently and predictably execute licensing agreements for your institution. The Deal-making 4 P’s are:</span><br />
<ol><li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Planning</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>People</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Process</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Platform</strong></span></li>
</ol><span style="font-family: Georgia, "Times New Roman", serif;">As outlined in the first post of this series, managing the <strong>people</strong> in your organization is critically important and may often be your most challenging responsibility. It requires a considerable effort to attract, recruit, and retain experienced and qualified professionals for all positions across your organization. Additional processes that are essential to building and maintaining an effective and efficient team include your on-boarding process, establishing mentors for new staff members, and developing the right sourcing strategy for personnel to support your mission.<br />
<br />
Each of these elements is critical to building an efficient and effective organization. For instance, you will not succeed just by hiring well-seasoned entrepreneurs if you don’t have a program in place to mentor them on the technology transfer goals and procedures specific to your organization. Several questions to contemplate in this area include: </span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;"><em>What key competencies are you missing today (from technical knowledge to negotiating skills) and what will you need in 6 to 12 months as your R&D organization grows or changes?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>How will you recruit associates with the appropriate skills and experience level, and what portion do you need fulltime versus on an as-needed basis?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>What personnel investments are you making to develop key organizational relationships across your institution? Are these relationships strong or do you need a different personality as your liaison?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>What investments are you making to improve your team’s ongoing capabilities and competencies in order to impact your goals?</em></span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">How does your organization work on attracting, recruiting, and retaining key professionals to build a world-class TTO? Leave a comment below, and check back next week for the next installment in this series.</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-78962100980340105472010-08-09T18:59:00.001-04:002010-10-27T08:49:55.890-04:00Applying the 4 P’s to get to “The Science of the Deal”: Tips on Planning<span style="font-family: Georgia, "Times New Roman", serif;">As I noted in my </span><a href="http://spaintechnovative.blogspot.com/2010/08/applying-4-ps-to-get-to-science-of-deal.html"><span style="font-family: Georgia, "Times New Roman", serif;">previous post</span></a><span style="font-family: Georgia, "Times New Roman", serif;">, STS’s proven Deal-making 4 P’s can position your Technology Transfer Office (TTO) to more consistently and predictably execute licensing agreements for your institution. The Deal-making 4 P’s are: </span><br />
<ol><li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Planning</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>People</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Process</strong></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Platform</strong></span></li>
</ol><span style="font-family: Georgia, "Times New Roman", serif;">Let’s look at <strong>Planning</strong> in more detail. Planning requires a conscious commitment to reserve and invest the time to review the projects, trends, and key metrics for your office. This is certainly easier said than done, but is essential to providing effective leadership for your TTO. Several questions to contemplate in this area include: <br />
<span id="goog_441885008"></span><span id="goog_441885009"></span></span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;"><em>How do you keep your staff focused and not distracted by lower priority tasks and initiatives that prevent your organization from achieving stated goals (i.e., licensing deals)?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>For the technologies you are actively marketing at this time, how many resources (time and funding) have you already expended and expect to spend before a deal is signed? Is the expected revenue stream from the deal greater than the cost?</em></span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><em>Do your operational metrics reflect progress toward achieving your institutional and TTO goals, or are you just capturing and reporting on readily available metrics?</em></span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">If you find that you are spending a disproportionate amount of time on activities that are not directly impacting your goals, you should consider re-evaluating the current set of goals to ensure they are appropriate for your organization, or re-distribute priorities and responsibilities to make sure those who should be driving your goals have the time and resources to do their jobs. Planning who should do what and for which projects is most important and will help your office focus its resources appropriately and achieve your goals more effectively. How is your organization implementing effective and proactive plans? </span><span style="font-family: Georgia, "Times New Roman", serif;">Chime in with a comment below.</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-69967765362734439102010-08-03T18:57:00.001-04:002010-10-27T08:50:27.980-04:00Applying the 4 P’s to get to “The Science of the Deal”<span style="font-family: Georgia, "Times New Roman", serif;"><em>Editor’s Note: This is the first in a five-part series examining STS’s Deal-making 4 P’s. This overview will be followed by posts that focus on each “P” within this approach. </em><br />
</span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">STS’s proven methodology of applying the Deal-making 4 P’s can help position your Technology Transfer Office (TTO) to more consistently and predictably execute licensing and partnership agreements for your institution. The 4 P’s can take your organization’s deal making from an art to a science, improving your overall success rate of transforming technology disclosures into deals. The Deal-making 4 P’s are:</span><br />
<ol><li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Planning</strong>. Effective planning includes establishing a strategy with supporting goals and plans that deliver the greatest return on investment (ROI) from limited resources. It is imperative to implement practices that position your organization to focus on delivering results in line with your institution’s goals.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>People</strong>. While it may be obvious that your goals should include attracting, recruiting, and retaining qualified professionals for positions within your TTO, the challenge of doing so can often be considerable. Additional key tactical and strategic details and procedures demand your attention, including your on-boarding process, establishing mentors for new staff members, and developing the right sourcing strategy for personnel to support your mission.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Process</strong>. Institutionalizing “just enough” process discipline (the extent to which you define and follow specific steps for activities) across your TTO will enable your office to be agile and efficient, positioning your organization to deliver consistent high quality services within stated time and resource constraints. Process institutionalization requires a conscious effort to define, document, communicate, and train your staff on key activities within your organization, such as evaluating commercialization potential and required documentation from prospective licensees before an agreement is signed.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Platform</strong>. Your TTO can achieve tremendous efficiency and effectiveness by taking advantage of modern, low-cost, widely available technology solutions. These tools include IP asset management database applications (from online invention disclosure submission to docket tracking to recording licenses), calendaring and scheduling, instant messaging, websites, e-mail marketing, Web conferencing, blogs, wikis, microblogging and other social media tools. It is important that the tools you deploy are intuitive and not overly complex and that they help rather than hinder your key professionals in performing their jobs effectively. </span></li>
</ol><span style="font-family: Georgia, "Times New Roman", serif;">What steps does your organization take to improve the effectiveness of converting disclosures into licensing and partnership deals? Chime in with a comment below, and be sure to check back over the next few weeks to learn more about how STS implements the 4 P’s.</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-9600636160771274032010-06-09T18:53:00.001-04:002010-10-27T08:51:53.744-04:00Presenting Marketing Concepts for Tech Transfer Professionals at the AUTM Eastern Region Meeting<span style="font-family: Georgia, "Times New Roman", serif;">Karen Hiser and I had the pleasure of presenting <strong><em>Tech Transfer Marketing Concepts </em></strong>and <strong><em>Marketing Social Media Strategies</em></strong> at the <strong><a href="http://www.autm.net/home.htm">AUTM</a> Eastern Region Meeting</strong> in <strong>Atlanta </strong>on <strong><em>June 8th</em></strong>. Both of our sessions were well attended and were extremely interactive, with the participants posing pertinent questions and sharing their personal experiences and challenges.</span><br />
<span style="font-family: Georgia, "Times New Roman", serif;"> </span><div style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0BQtUen60jD0wWTsia1EkZtSsBB11dJR3rJboX7gGDsDcCXp286mWXGNsyI5WDq_j3csOhDaW3aru8swU64u5SKjfNs45tnJptf7mwrUlw9OzhUA6Rr-bRgrD_ubquUIVUxkXXpxw-Po/s1600/June-2010-AUTM-meeting-Jack.jpg"><span style="font-family: Georgia, "Times New Roman", serif;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0BQtUen60jD0wWTsia1EkZtSsBB11dJR3rJboX7gGDsDcCXp286mWXGNsyI5WDq_j3csOhDaW3aru8swU64u5SKjfNs45tnJptf7mwrUlw9OzhUA6Rr-bRgrD_ubquUIVUxkXXpxw-Po/s320/June-2010-AUTM-meeting-Jack.jpg" /></span></a></div><br />
<span style="font-family: Georgia, "Times New Roman", serif;">The Marketing Concepts session included:</span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;">Overview of the Fuentek </span><a href="http://blog.fuentek.com/2010/01/technology-screenings-and-assessments.html"><span style="font-family: Georgia, "Times New Roman", serif;">screening</span></a><span style="font-family: Georgia, "Times New Roman", serif;"> methodology for technology commercialization decisions</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Best practices and guidelines for marketing intellectual property (check out our many </span><a href="http://blog.fuentek.com/search/label/Marketing%20Intellectual%20Property"><span style="font-family: Georgia, "Times New Roman", serif;">blog posts</span></a><span style="font-family: Georgia, "Times New Roman", serif;"> on this topic)</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Details on implementing an </span><a href="http://blog.fuentek.com/2010/03/ip-marketing-iterative-process-getting.html"><span style="font-family: Georgia, "Times New Roman", serif;">iterative process</span></a><span style="font-family: Georgia, "Times New Roman", serif;"> for marketing a technology portfolio</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Print and digital media tools for marketing technologies (check out these </span><a href="http://www.fuentek.com/samples.htm"><span style="font-family: Georgia, "Times New Roman", serif;">samples</span></a><span style="font-family: Georgia, "Times New Roman", serif;"> of such tools)</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;">Effective communication techniques with researchers and with prospective licensees (more on these topics to come)</span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">The most enjoyable aspect of this conference was the interactions that both Karen and I had with participants throughout the conference on the challenges and opportunities facing higher education Technology Transfer Offices in 2010 and beyond.<br />
<br />
Is your Technology Transfer Office facing challenges securing licensing agreements for your patent portfolio?</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-32610714397399724202010-06-01T18:51:00.002-04:002010-10-27T09:01:10.934-04:00Guidelines for Your TTO Blog, Microblog, and Other Social Media Tools<span style="font-family: Georgia, "Times New Roman", serif;">In my last posts, I discussed </span><a href="http://spaintechnovative.blogspot.com/2010/05/social-media-tools-can-be-valuable-for.html"><span style="font-family: Georgia, "Times New Roman", serif;">the value of social media tools</span></a><span style="font-family: Georgia, "Times New Roman", serif;"> such as blogs, with some extra discussion of </span><a href="http://spaintechnovative.blogspot.com/2010/05/more-about-microblogging.html"><span style="font-family: Georgia, "Times New Roman", serif;">microblogging</span></a><span style="font-family: Georgia, "Times New Roman", serif;">, as an effective means of communication for Technology Transfer Offices (TTOs). Now I offer the following guidelines to position your organization to capitalize on the use of these two and other social media tools.</span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Plan</strong>. Establish a plan that links the use of blogs, microblogging, and other social media tools to specific goals, objectives, and challenges within your organization. Establish metrics (hard and soft) to monitor the effectiveness of your use of these tools and their impact on your goals.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Connect</strong>. Proactively expand and enhance your professional network on an ongoing basis. Tools like LinkedIn, Plaxo and even Facebook can assist you in identifying the right person at the right place at the right time that may be your next licensee or business partner. These tools are a natural extension of the relationships that you are continuously cultivating via professional associations and your internal interactions.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Integrate</strong>. Become an active (rather than a casual) participant and establish accountability for doing so. “Institutionalize” your use of these tools, so that daily disruptions do not cause you to constantly put off these tools until “tomorrow.” Establish a schedule each day when you or a member of your staff is tending to the care and feeding of your social media platforms.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Listen</strong>. Social media is extremely dynamic, with new trends, technologies, and applications emerging monthly. Observe the emergence of these new trends, capitalizing on new sources of information and professional relationships. And remember to listen to what others are blogging about that provide insights on new trends in technology commercialization and licensing of intellectual property.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Engage</strong>. Identify opportunities for you and your organization to deliver value to your subscribers. You should continually seek opportunities to maximize the value they return to your organization.</span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">As you plan to leverage social media tools, think beyond the written word and your traditional communication methods. When feasible, take a multi-media approach, incorporating pictures, audio and video to represent your technology portfolio beyond a static Web site.<br />
<br />
Social media tools are clearly not a fad and will continue to evolve and improve as a key communications vehicle for organizations across the globe. If you have not already embraced these tools, I encourage you to dig in and begin your planning process.<br />
<br />
Are there any best practices that you can share from using social media tools to support your Technology Transfer Office?</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0tag:blogger.com,1999:blog-8802170125063964281.post-43012621078154669882010-05-26T18:43:00.001-04:002010-10-27T09:02:16.386-04:00More about Microblogging<span style="font-family: Georgia, "Times New Roman", serif;">In my prior post on the </span><a href="http://spaintechnovative.blogspot.com/2010/05/social-media-tools-can-be-valuable-for.html"><span style="font-family: Georgia, "Times New Roman", serif;">value of social media tools</span></a><span style="font-family: Georgia, "Times New Roman", serif;">, I noted the potential synergy between <strong><em>blogging</em></strong> and <strong><em>microblogging</em></strong>. In this post, I will elaborate on the application and uses for microblogging and how this tool can benefit a Technology Transfer Office (TTO).<br />
<br />
Earlier this year, it was reported that more than 50 million [Twitter] tweets per day were being generated. That’s 600 tweets per second. I characterize the more than 100 million registered Twitter users today as follows:</span><br />
<ul><li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Public</strong> figures, including politicians, public servants, celebrities and sports figures. These individuals currently dominate the Top 100 lists and some have attracted millions of followers. I believe that their dominance of this medium will likely shift over time.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Media</strong> professionals across all sectors, including journalists, media outlets, and the trade press. The media at large has really embraced microblogging over the past 2 years. This category will continue to expand rapidly into the future, as it has provided an innovative new medium to share breaking news stories as well as editorial content on a timely and virtually continuous basis.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Messaging</strong> professionals, including consultants, professional speakers, and various subject matter experts. Microblogging has provided a cost effective megaphone for independent consultants and organizations with large and small advertising budgets to have a voice in a very crowded space.</span></li>
<li><span style="font-family: Georgia, "Times New Roman", serif;"><strong>Marketing</strong> professionals, both internal to an organization and the external service providers they hire to support them (i.e., media, public relations, e-mail marketing, and advertising agencies). This category includes forward-thinking TTOs that are creative and looking for innovative approaches to market their capabilities and intellectual property (IP) portfolios for technology commercialization and licensing.</span></li>
</ul><span style="font-family: Georgia, "Times New Roman", serif;">Of course, there is also a sizable category of “<strong>Other</strong>” individuals with abundant opinions and perspectives for anyone willing to listen.<br />
<br />
TTOs have the opportunity to capitalize on this new communications vehicle as another tool in their marketing toolbox to supplement their current IP marketing efforts.<br />
<br />
Is your TTO experimenting with Twitter or other means of microblogging to promote your technology portfolio?</span>Jack Spainhttp://www.blogger.com/profile/02483601774726248996noreply@blogger.com0