andy blog

Background:

Muhammad Yunus developed the concept of microcredit and several other microfinance concepts. Microcredit is the practice of extending microloans (very small loans) to the poor with a focus on small business entrepreneurs.

In 2006, Muhammad Yunus and the bank that he founded, Grameen Bank were jointly awarded the Nobel Peace Prize. Upon winning, Yunus used part of his share of the $1.4 million award money to create a company to make low-cost, high-nutrition food for the poor and the rest of the money to set up an eye hospital for the poor in Bangladesh.

Yunus serves on the Board of the United Nations Foundation. UN Foundation is a public charity created in 1998 with Ted Turner’s $1 billion donation to support UN causes.

Yunus is the author of several books including Banker to the Poor and A World Without Poverty.

He has won a number of other awards, including the Presidential Medal of Freedom in 2009 26 honorary doctorate degrees.

Why is he on the wall?:

Yunus is the epitome of what inspires me. A normal, albeit smart, economics professor is likely responsible for the first real opportunity the world has at eliminating poverty in mass numbers. Yunus’ genius comes from listening to the poor and taking a common sense approach towards eradicating poverty and the other negative effects of impoverished lifestyles (health, corruption, etc.) throughout the world.

He built a model for this eradication for his own community (the slums of Bangladesh), but it is scalable across the globe and can easily be reproduced by others throughout the world.

Yunus’ inspirational impact comes from his attempts to change the things that he can change and focus on the power that he does have.

Background:

In 1995, Seth launched Yoyodyne, which used contests, online games, and scavenger hunts to market companies (such as American Express, Microsoft, and Volvo) to participating users. In 1998, he sold Yoyodyne to Yahoo! For $30 million, but it was at Yoyodyne that he created the concept which launched his fame – “permission marketing.”

Godin has been a regular columnist for Fast Company magazine, started numerous other companies such as ChangeThis and Squidoo, and is one of the most widely read bloggers on the planet. Godin posts daily to his blog and is ranked in the AdAge Power 150 as the #1 marketing blog out of 976 tracked.

Seth is an acclaimed author with 11 books in print including: Permission Marketing, Unleashing the Ideavirus, Purple Cow, All Marketers Are Liars, The Dip, Tribes and others.

Why is he on the wall?:

Plain and simple, Seth is a marketing genius. Many experts disagree calling the contents of his books and blog nothing more than “common sense.” However, that is exactly what makes Godin such a genius. Unlike anyone else that I’ve ever heard or read, he has a knack for identifying major marketing opportunities in the minor things. Godin is a marketing innovator not because he creates completely new ways but because he finds ways to improve upon what already exists. What is true today was not necessarily true yesterday; Godin is blogging daily about the things he sees changing and how we can take advantage of these opportunities.

Seth Godin is truly my hero when it comes to marketing. He has a mind built for our time period, and he is willing to share his thoughts daily, whether you like him or not.

“Method is much, technique is much, but inspiration is even more.” – Benjamin Cardoza

We all need inspiration, especially when we strive for excellence, greatness, and impact.

Riley Life has created a “Faces of Inspiration” wall at their headquarters.

Who else should we feature on this wall?

I plan to explain each selection in detail on this blog. Additionally, more faces will be added and described. Check back and offer your suggestions and comments.

Here are the current faces taking residence on the wall:
Richard Feynman
Pete Wentz
Sam Palmisano
Iron Man / Tony Stark
George Bailey
Steve Nash
Seth Godin
Malcolm Gladwell
Muhammad Yunus
Lance Armstrong
Truett Cathy
Riley Bingham

Send your suggestions for additional faces to cbingham@rileylfe.com.

Yes, that is me sitting with Barack Obama today (front row on left). Regardless of my political beliefs or anything else, I learned (or at least confirmed) two things today:

1. Our nation needs leaders. Why not me? Now more than ever. The average person is not willing or is afraid to step-up. Why not you?

2. We all have the ability to be extraordinary. Very few pursue extraordinary. In order to be extraordinary people we must live differently than others. We must accept a unique life of peculiarity. Should we not strive to be remarkable in all that we do? One person can accomplish so much in one lifetime when he strives to be remarkable.

We all have the power to change the world, we just need to stand up and lead and realize the power that we do have rather than focusing on the power that we don’t.

Think I’m too idealistic? Join me on our next monthly company service project - http://www.rileylife.com/servicecalendar.html (I’m serious!)

I’ve recently moved into a new house. I’m very close to a Wal-mart and a Target. I have done a bit of shopping at each store over the past month to be a relative expert of the discount retail market dominated by these two.

I have one observation - the demographics of the workforce are relatively the same but the attitude of the workforce is entirely different. Not even close. I would never let my daughter work at Wal-mart. (she’s only 2 but I’m thinking ahead.) I will encourage her to apply for a job at Target.

I feel totally unappreciated leaving Wal-mart from the way I was treated. Opposite for Target. Teenage men mumble forced dialog at Wal-mart. Teenage men are enthusiastic and respectful gentlemen while working at Target, even if only at work.

How does Target do it? Whatever they are doing, maybe they should offer “How to” parenting classes similar to Home Depot’s building classes. They have obviously figured how to turn almost anyone into a loyal customer-focused employee.

Target seems to be more than a job and more like a right of passage for young teenagers. It truly is remarkable. Take notice, then compare to Wal-mart. Let me know what you think.

DURHAM, N.C.—Chris Bingham, President and CEO of Riley Life Industries, Inc. (www.rileylife.com) in Durham, NC, became the newest member of Nourish International’s Board of Directors. He was selected Thursday at a private meeting in Durham, NC.

            Nourish International (www.nourishinternational.org) is a non-profit organization whose mission is to eradicate poverty by engaging students and empowering communities.  Nourish develops and funds projects in communities who lack the necessary funds and resources. Bingham will join an influential Board of Directors that includes Jud Bowman, CEO of PocketGear (www.pocketgear.com), Ryan Allis, founder of iContact (www.icontact.com), and Sindhura Citineni, founder of Nourish International’s most successful venture, Hunger Lunch.

            Bingham’s interest in promoting sustainability abroad was peaked after a recent trip to Haiti where he served as part of a medical mission team. During his trip, Bingham saw first hand the need for sustainable developments in developing countries. “I was moved by my overall experience and I feel that we (as young Americans) can do so many small things that can make an enormous difference in the future of our world. Nourish International is a powerful organization that has the opportunity to positively impact so many lives and communities,” Bingham said.

Riley Life Industries, Inc is a Green Plus certified (www.gogreenplus.org) order fulfillment company that allows other businesses, big or small, to worry less about shipments and inventory and to focus more on developing their business.

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Riley Life Industries, Inc. was recognized Thursday July 9, 2009 by the Institute for Sustainable Development for their recent accomplishment of achieving Green Plus certification (www.gogreenplus.org). The event was held at Mez Restaurant in Research Triangle Park and honored Riley Life.

             Alex Gibson, COO of Riley Life Industries, felt pursuing Green Plus certification was a natural move for the company. “Sustainability is one of our company’s core values, so we make sure to practice a ‘Green Plus’ lifestyle on a day-to-day basis. Being certified allows our customers and our community to see just how strong our commitment to sustainability really is.”

Green Plus Certification required Riley Life to assess their sustainability in three areas: organizational performance, the environment, and the engagement of their employees and communities. Key practices already in use at the facility helped Riley Life attain certification. Among other things, all Riley Life employees participate in a monthly community service project, receive money for gas when they carpool, and use 100% recyclable packaging materials.

Riley Life Industries is an order fulfillment and distribution company that allows other businesses, big and small, to worry less about shipments and inventory and to focus more on developing their business.  Riley Life is the first business in the transportation and warehouse sector to become Green Plus certified.

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When I graduated from college, I rewarded myself with a painting by Thomas Kinkade.  The artwork that I chose features a small ship travelling through treacherous waters; faintly, you can just make out the ship’s name – “Faith” as the boat appears to be reaching a smoother spot of water while the sun begins to barely peak through the dark clouds.  Appropriately, the painting is called Perseverance. 

As a small business owner and entrepreneur, I can think of no better symbol to have given myself.  Perseverance is fundamental to a small business’ survival. 

Likely the greatest entrepreneur of all-time, Thomas Edison said: “Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.”  Edison went on to found 14 companies, including General Electric, one of largest and most successful companies in the world. 

In order to define success, we must identify what our true destination is and create a general plan for how we see ourselves achieving success.  For most, this destination comes in the form of goal setting.  Personally, I have created broad goals and most of my specific goals fall under these generic objectives.  Destinations get murky when you have too many targets, so I limit myself to two overarching goals:

1. Everyday, I want to do at least one thing that makes those around me proud.
2. I want to make the world a better place for my daughter and her generation.

These goals are not typical; I am not aiming to be typical. Success for me is defined differently than most.  However, what is most important lies in understanding what success is and then finding the motivation, focus, and determination to reach it.

As an entrepreneur, once you set your goal and jump the hurdle of starting your own business, it all comes down to focus and perseverance.   When you think you are ready for whatever may be thrown at you, something flies in from somewhere that you would never have expected.  Those who are successful learn how to duck and dodge while continuing to step forward.  It is the constant attempts at moving forward that are most important.  These obstacles can come in countless forms – financial troubles, naysayers and doubters, natural disasters, lost customers, and so much more.  Regardless of the challenge, we must persevere.

Thomas Edison’s teachers thought he was confused, not understanding his brilliance.  His mother saw things differently and began homeschooling him after only 3 months in school.

Believing in yourself and your ability to reach your destination will remain the key to perseverance.  Additionally, it helps to have a few cheerleaders around you that can climb aboard and pick you up on days when things seem truly insurmountable.  Keep a positive spirit and surround yourself with others who also believe in accomplishing the impossible.  When you focus on your destination, you begin to tune out the obstacles while somehow finding a way to resolve them in the process.

When looking at my painting, you will either first notice the choppy, treacherous sea or the sun breaking through the clouds.  Similarly, in our careers, we make a choice – let the obstacles distract and throw us off course or focus on our destination and achieve success.

My recent visit to New Zealand (NZ) and Australia (AUS) was fantastic!  Visiting with 13 companies, attending with particular focus on innovation proved beneficial from numerous standpoints.  I will look at innovation from two standpoints: as an American doing business primarily solely in the United States and as an entrepreneur.

US vs. NZ vs. AUS View

1.       US companies typically view other US companies as competitors in innovation.  NZ companies seem to see competition from AUS and US companies while AUS companies see US as competition.  In the talent war, Digipost (NZ company) saw losing talented employees to the US as the threat rather than to fellow NZ company and competitor – Weta, Peter Jackson’s studio.  NZ wine makers saw AUS wines as major competition as well as US wines.  Overall, Europe was rarely mentioned in discussions about competitors (it is unclear as to whether this is because of the nationality of the audience or because of the true thought that Europe is not a formidable competitor).  Although, all companies seemed to be focused on international business rather than strictly focusing on their local markets for growth.

2.       The US seemed to an obvious target market for most of the companies in AUS and NZ.  NZ saw AUS as a key market, but rarely was NZ mentioned as a target market for AUS companies.  Solo seemed to be the only company that was looking to Europe rather than the US as the key target market for their innovation.  Villa Maria was highly interested into greater expansion into the US as well as the other vineyards represented by the Big Picture Wine experience. 

3.       New Zealand seemed to have pride in their country and looked to work together to continue to make way in standing as a destination for innovation.  Villa Maria and other NZ wine-makers partner in order to market NZ wine as a premium, world-renowned wine.  Again, Digipost saw rival, Weta, as more of an ally in positively representing NZ as a movie production hub rather than as a competitor.

4.       Government is taking a more active role in NZ and AUS in terms of sustainability.  Both NZ and AUS governments are ahead of the US, but NZ government is really leading the 3 countries in the sustainability innovation arena.  Limited land size and resources could be a major driver behind this.  Sanford Limited Sustainable Seafood is not sustainable because they want to be or because they saw the ability to make more money taking a sustainability approach; they are sustainable because the NZ government FORCES them to fish in a manner that is sustainable.  Government subsidies in AUS allowed for and help drive buildings like Council House 2 Building, which houses government offices.  Also, utilities in AUS are incentivized and regulated to pursue sustainable efforts at companies like Transpacific Industries and Sydney Water Corporation.  60L Green Building was far ahead of its time and serves as a model for how other buildings will be renovated and restored in the coming years in both NZ and AUS as the focus on the sustainability movement strengthens.

5.       NZ culture is more laidback than AUS.  However, both have a far more laidback culture and approach towards business than the US.  There was a general feel throughout all of our company visits that there was an open forum for discussion.  Additionally, the work environment in all companies seemed to be more laidback than US work environments.  Even IBM conducted meetings over a game of billiards.  Office buildings seemed to have fewer cubicles and more open spaces to encourage discussion and information transfer in a laidback, “we don’t need to set a formal meeting to talk about an issue” type of atmosphere.   One of the most commonly spoken phrases in both countries is “No worries!” 

6.       The US is far ahead of NZ or AUS in terms of customer service.  Ironically, I ate at two restaurants where the waiter placed orders into a wireless handheld device that communicated orders to the kitchen and the bar, respectively.  However, in these same restaurants, it was not an option to split a check or use a credit card for a purchase less than $30.  Interesting that the innovation is in place to make the process better with theoretically fewer errors and faster service to the customer.  On the other hand, the things that mattered to us as customers was the ability not apparently available with this innovation – splitting checks for simple ordering and payment.  Also, it was far more difficult to make custom orders as there was an inability to deviate from the choices available to the waiter on the device.  Overall, I noticed poor customer service throughout the trip.  While at Patty’s Market, I was shopping for a boomerang.  At one particular vendor, there were 5 on display.  I saw a large basket in the corner with a plethora of boomerangs.  As I walked towards the basket, I was physically restrained by the vendor and told that the 5 on display were the only ones that he was willing to sell.  When I told him that I didn’t want any of those, he was unrelenting in not giving me other options.  I went elsewhere.

Entrepreneur View

1.       Entrepreneurs who ask for help more often are more innovative.  This is likely because they can continue to spend time innovating rather than managing the business that surrounds their innovation.  After innovating, you must learn when you are outside of your abilities.  You must hire talent to fill your personal voids.  Those who author the innovation aren’t necessarily equipped to carry the innovation to the level that is possible for the particular innovation.  In the US, innovators typically sell their innovation and keep on innovating elsewhere, repeating the cycle.  Most times the purchaser of the innovation is a cash-rich large corporation.  This seemed to be neither the case nor objective in AUS or NZ.  Most innovators saw themselves carrying their innovation through to major global success.   Many of the smaller companies that we met with struggled with the business skills side of things.  Most lacked financial management abilities, strategic planning abilities, and overall business management knowledge and abilities.  These are the individuals that needed to look to bring in assistance that could assist them in these facets, if they are ever to see their innovation blossom into the flowers of which they dream.

2.       Innovate with the exit in mind.  Many of the entrepreneurs that we met did not have a clear finish line in sight.  How can you run a race if you don’t know where the finish line is?  Those who did have lofty goals for their innovation seemed to have greater progression towards a successful exit.  It is likely that this is due to the motivation that comes with setting goals.  Without a goal for your innovation, how can you remain motivated in the difficult times; the difficult times will come.  Solo’s CEO seemed to be the least knowledgeable of the end and what it would mean.  He also seemed to be the furthest from any sort of end.  RFS seemed to have clear growth and potential exit options.  They also were progressing further towards these outcomes.  iOmniscient also lacked a clear vision for where they saw their innovation going.  I feel this has limited their success.

3.       Recognizing and paying for innovation of others allows you to create more innovation of your own.  The most apparent example of this was at Villa Maria where the owner had been willing to invest in the best technology and overall innovation of others while incorporating his own innovation such as the twist off tops.  He was also a pioneer in using open fermentation.  However, most of the rest of his strategy and equipment had been developed elsewhere.  Incorporated with his own strategy and climate, he was now able to produce wines that win awards and consistently outperform their counterparts.

4.       The fastest way to derail innovation is to have too much EGO.  Most of the presenters at each company carried a certain EGO about them.  I truly feel that the humblest of our presenters were likely the most successful (iOmniscient and iGlass) excluding RFS World who seemed to have a large ego and substantial success.  However, I would consider our presenter to at RFS to be a good business manager rather than an entrepreneur or innovator.  At some point in an entrepreneur’s beginnings, he must check his ego and admit that they don’t know everything.  All of us will have, at a minimum, small failings.  If we sooner admit that we can’t do it alone, without hiring, seeking outside guidance, or even just researching others’ work, an entrepreneur and innovator will never progress past a certain point.  Those who “stand on the shoulders of giants” become giants themselves.

The impact of this journey on me as an entrepreneur and an American businessman will only be told with time and further experience.  However, it is evident that immediate and observable insights were gained in these 12 days.

Cheers!

Here is a portion of recent paper I wrote after completing an MBA class:

In all honesty, I gained a TON out of my weekend in studying Value Driven Leadership.  In light of this fact, I’ve decided to focus specifically on my top 10 take-aways and applications of these take-aways.  As a quick refresher, I am CEO of Riley Life Industries, Inc. (www.rileylife.net).  I started this company in December 2007 with my business partner.  We are a packaging, warehousing, and order fulfillment company.  Additionally, we own a designer children’s sleeping bag company – Marsupium (www.marsupium.net) – that  we are looking to invest in and grow.  Finally, we are in the process of starting our third business, Sublime Soap (www.sublimesoap.com) which is an all natural, organic body care manufacturing company.

I think that this course was extremely valuable to experience at such a young time in my company as I’ll now be able to instill so many of the valuable tools discussed in class far before we will be able to get off course or feel like we can’t change something. 

In no particular order, here are my top 10 take-aways:

1.       Work yourself out of a job – I have heard this philosophy before; however, I think that this is likely the most important take-away for me from the weekend.  In my role as CEO, it is important for me to continually make sure that the company and all employees are completely on track and moving together towards the values and goals of the company.  Upon returning, I discussed my role with my other 2 full-time employees.  We decided to hire someone to remove the specific sales role from my list of daily tasks.   We have a highly qualified salesman who started Monday March 30^th.  Additionally, I have more thoroughly defined tasks and roles for our other employees.  This will allow me to focus on building the internal and external company image.  My other responsibilities include financial management and human resources management.  Ultimately, I will look to fill these roles as we grow to a point where someone can specialize on these tasks.

2.       Whats important?, measure it, throw the rest away, reward and incentivize those who strive to improve corporate efficiency – I’ve never been one for bureaucracy.  However, I particularly enjoyed our GE case discussion about how Jack Welsh was able to reduce the wasted time and bureaucracy in a company the size of GE.  I’ve taken an approach that we work in much more communal environments rather than feeling like we need to schedule meetings to talk about anything.  Everyone is now encouraged to politely interrupt should something arise that requires discussion.

3.       Don’t accept change ; drive and encourage constant change – I really love this motto.  Innovation is one of four core values for my company.  Driving change and encouraging new ways of looking at and doing business will continue to allow my organization to be nimble in these difficult times.  We have an advantage in being small and driving the change of the way business is done will allow us to be the lead dog rather than just following industry trends set by the large players.

4.       Align employees incentives with what your corporation values – I began by creating a unique incentive plan for our new salesman hired.  Additionally, I sat down with our Warehouse Manager to determine what motivates him and how he sees his role in our company.  I discussed his compensation; I am working on creating an alternative compensation structure for him which will encourage timeliness of order shipping, inventory accuracy, and lowering of rates with our suppliers.  I particularly gained knowledge with our discussion of the GE case, Vroom’s Expectancy Theory, Adam’s Equity Theory, and alternative ways to enhance motivation.   Finally I particularly liked the practice of the mock performance review. 

5.       Best leaders develop those around them to be leaders – I will be sitting down with all of my employees to set goals for them and discuss ways that I can facilitate and assist them in reaching those goals.  I will discuss with each employee the different vision for each function.  For example, in speaking with our Warehouse Manager, I’ve told him to treat the warehouse like it is completely his to manage.  When we have a tour, I’d like him to give the warehouse portion, when we discuss anything related to the warehouse I’d like him to be there; additionally, I expect that everything will be completely in order and that he will care about things and see things that I would never dream of noticing.  I am working to empower all employees to take complete responsibility for the part of the company that they oversee.  I hope to give each employee the gift of believing in themselves.   I want to encourage competitive spirit but drive a balance with teamwork.  I particularly liked our discussion about spending my first hour talking to my people each day rather than just coming in and checking email while sitting behind my computer.

6.       Develop a pattern of honest and open communication – I really enjoyed the mock performance evaluation exercise.  However, I gained a lot more in the discussion immediately following.  I took a soft and avoidance route regarding the “exploitative” trip.  After the discussion, I realized that losing trust in an employee could be far more damaging that discussing a situation and getting something difficult out in the open.  I have had a particularly tough time with my business partner in this regard – not necessarily agreeing with all of the decisions that he was making in regards to use of company resources.  I have been working with him to eliminate grey areas of our agreement and specifically targeting areas that have made me uncomfortable in the past.

7.       Networking begins by offering assistance to someone else, give referral first – networking is now my main role as CEO.  I’m working to add trusted valuable people to my network by seeking out those that I can assist with the obvious hope that “what goes around will come around.”  I am now focused on helping others grow their businesses as well, looking to inspire those aspiring to be entrepreneurial but feeling trapped by fear of the risk associated.

8.       Leaders are few, take opportunities to step-up to take on leadership opportunities – This is a point that I wish I would have realized earlier in life, like middle or high school.  There were so many opportunities to not only have gained valuable leadership experience at young age but also to have made such a positive impact on the people and community around me.  I’m now focused on making sure that not only I but all those in my company focus on being the leaders needed to make our community, city, nation, world a better place.  If they can have this kind of vision, then we will all very easily make our company great – one that is full of leaders looking to be leaders and assisting others in becoming leaders.

9.       Judgment should always overpower policy – What a powerful lesson this is.  Being at such a new time in my company, it is a time for setting policies in place.  It is important for me to incorporate judgment into these policies.  Additionally, I will look to empower my employees to see judgment as something that can overpower policy.  We are putting rules in place not to be broken but to be adhered to when they make sense.  Every company, everyday faces a situation where judgment should trump policy.

10.   Do not waste time on those who will not align with the values and goals of your organization – It is difficult to fire, adjust, admit making a mistake by hiring someone, eat the loss associated with training someone and then letting them go; however, it is like a cancer to let them remain in a place in the company when they do not align.  I will seek to be thorough in my analysis of these types of decisions but expedient in moving towards resolving eliminating the cancer before it spreads too far into the body.