Gentlemen and gentlewomen, start your Prii.
Gosh, is it even possible to get a blogger foot in the SXSW publicity door? The whole thing is like a giant ballroom full of chicken dancers–everyone is having fun but nobody is holding your hand. I honestly don’t know what that analogy means, but here is the One Millionth SXSW Guide for 2014, selfishly featuring friends and alumni of McCombs School of Business.
Friday, March 7
Ubuntu Leadership: Leaders for a Connected Africa
Africa is on the rise, with a projected GDP by 2050 bigger than the U.S. and China combined, and a population that is young and anxious to experience economic and cultural growth. As evidence of that, their cell phone network already kicks our butt, but that’s another story. Enter John Kidenda, who graduated from McCombs with support from the African Leadership Bridge, a program designed to train the next generation of African Leaders. Kidenda will be joined by presenters Frank Aswani, Rick Reeder, and current UT Austin student Takalani Malivha.
Sunday, March 9
Should You Drop Out of School to Start a Company?
Short answer, it worked great for a small handful of people. Good luck! But seriously, Andrew O’Hara dropped out of the Texas MBA program to found Chiron Health, and he wants to tell you about “multiple perspectives surrounding…the value of staying in school for starting a company to dropping out to accelerate a career in entrepreneurship,” along with Cam Houser and Michael Gibson. Does anyone edit these session descriptions?
Big Data & Web Communities: Connect with a Click
Tying online activism to community organizing in order to achieve a better world. Gentlemen and gentlewomen, start your Prii. Luke Kyohere is a recent MSTC grad at McCombs and he just won the Austinpreneur of the Year for 2014, so listen up. He is founder of Beyonic Technologies, which helps businesses in Africa incorporate mobile-based bulk payments into their operations. He is joined by Asha Curran, Larry Irving, and Parker Harris.
“I think you ought to be happy. It’s a gift to others.”
Let’s depart from the normal ID University editorial flavor for a bit of light-hearted advice from a very talented marketing professor who also happens to be an expert on feeling happy.
Raghunathan’s research on consumer behavior spurred his interest in the elements of human happiness.
As most everyone knows, the holiday season is often filled with pressure, unrealistic expectations, and complicated personal feelings involving family and friends (either their presence or absence). In short, a recipe for sadness rather than joy.
Professor Raj Raghunathan of McCombs School of Business at The University of Texas at Austin, creator of the blog Happy Smarts and author of the upcoming book If You’re So Smart Why Aren’t You Happy? has spent several years studying the true determinants of leading a happy and fulfilling life.
He has three recommendations for relaxing, enjoying the moment, and facing down negativity during the holidays, and throughout the rest of the year.
1. Employ positive role play
Humans are social creatures, and the holidays bring families and friends together (sometimes too close together). That may mean face time with negative people who can bring your mood down with their non-stop pessimism, anxiety or distrust.
When walking away is not an option, Raghunathan believes the best alternative is to purposely assume the mindset of a happy, fully secure person. “Act like someone who is respected and loved by others, even if you struggle to feel that way at first,” he suggests.
An exciting, explosive athlete is appreciated precisely because he or she is able to perform amazing feats within the bounds of the game rules.
If you work for an organization that controls its brand expression through graphic identity guidelines, how do you know when it is time to vary from those guidelines, or to change them outright? What is the life cycle of a design template, a logo, a font family or a color palette?
Every designer or brand manager has run up against that question, and the answer isn’t a simple one, but having spent many years in the branding business let me share three arguments for why graphic identity guidelines should have long lifespans.
1. Graphic Guidelines Harmonize Your Message
Consistent use of color, graphics, typeface and message content helps people quickly identify and more clearly understand your brand. When an organization uses different colors, layouts, graphic styles and messages from one communications material to another, it gives the impression of chaos and leads the consumer to wonder, “Who are you, really?”
When I took the job of communications director at McCombs School of Business, first thing on my task list was to visit all of the department heads around the school. Dutifully, I collected business cards at each stop, and when I was done I had a collection that looked like this:
“It’s like borrowing money from a mob boss—under the right set of circumstances, it can make sense.”
If you’re thinking about launching a new business there are basically three financing options available: equity, debt and bootstrapping. Choosing how and where to finance your business is no small decision–and can literally make the difference between realizing your business dreams or losing control of everything you’ve created.
In a recent interview with Rod Kurtz, Editor-at-Large with American Express OPEN Forum, serial entrepreneur and investor Rob Adams shares hard-earned insights about financing that every potential business owner should thoroughly grasp.
“What are the main types of financing available to entrepreneurs?”
The three types are equity, debt, and bootstrapping. Equity, most entrepreneurs know as venture capital. Debt, most people know as borrowing money from a bank. And bootstrapping is that the business generates enough cash from the start to not require any outside funders.
“I hear a lot about venture capital. Seems like there’s always a new startup in the news raising millions, which is obviously tempting. How do I know if it’s right for me?”
Venture capital is a form of private equity, and by definition, it means you’re selling a piece of your company. It typically applies to business models that are tech or life sciences, because they can be super high-growth and profitable, but cash-flow negative. When they’re cash-flow negative, they have no assets to collateralize, which is why it’s such a high-risk, high-reward business. And the investor owns a percentage of a higher-risk company. Regardless of urban legends, I can own one percent of your company and control 100 percent of what you do, through a concept of management rights. What I like to say, it’s like borrowing money from a mob boss—under the right set of circumstances, it can make sense, but you need to know what you’re doing.
“Debt is the one I’m most familiar with. Does this make more sense for a company like mine?”