Famous Entrepreneurs Information

The raw talent available on a university campus is as plentiful as students who need money. So when Anand Chhatpar, a student at University of Wisconsin-Madison, gathered a group of peers for a casual brainstorming session, a business idea soon hatched.

Chhatpar had recently interned at Pitney Bowes' renowned Advanced Concept Technology Center, where he learned techniques in ethnographic research and prototyping. He recognized that if he could harness the creativity and insight of diverse young minds, he could put them to work solving companies' problems.

The result: BrainReactions, a pool of 200 professional brainstormers who create new product features, crack new market segments, and develop customer-service improvements for clients.

The company's first client, Bank of America, was referred to BrainReactions by Chhatpar's former Pitney boss and mentor, Thomas Foth. Now the fledgling outfit also counts Intuit, the Peace Corps, and Quantum Learning Network as clients.

Though Chhatpar, who graduated in May, is still the company's only full-time employee, a core group of seven part-timers is fast at work developing the capabilities BrainReactions will need in order to grow: IT, video, business development, facilitation, and PR.

Lesson learned:

"Think of scalability in everything you do, and leverage smart work. Innovative ideas come from fresh minds and exploring new perspectives, so don't jump to conventional wisdom. And remember Richard Branson's code: 'Oh screw it, let's do it.'"

Labels: anand chhatpar, brainReactions, brainstormers, company, famous entrepreneurs

Long Beach, California
www.longbeachmagazine.com
Founded: 2004 at Age: 24

A.J. Yager, 24, always wanted to be in the magazines business. His earlier entrepreneurial ventures were a bit of a detour -- a computer business and book publishing.

But then he fell in love with the city of Long Beach two years ago and found a way to combine his two passions. "This was a case of the right person, right place, right time," he says of Long Beach Magazine's genesis.

The fifth-largest city in the state, Long Beach had no dedicated magazine. "I saw it was a growing market, and the research indicated that a magazine made sense," he says.

His goal: to be in 12 beach cities by the end of 2007.

Lesson learned:

"The power of positive partnership. I'd always been a solo entrepreneur before, and now I have two partners. We all get so much from each other."

Labels: a.j.yager, califonia, famous entrepreneurs, long beach magazine

How do you keep employees happy, even in troubled times?

The companies on this year’s list of the 100 Best Companies to Work For showed us that culture continues to be the most important aspect of what makes a company great.

Our new #1 NetApp, the San Francisco-based data storage and management company that has been on the list for the past six years, continues to grow revenues while boosting employee morale – enough to topple Google (#4), which held the crown for the past two years.

The tough economy took a toll on many corporations and these are no exception. Many told us about layoffs, but we wanted to know how outgoing employees were treated: the size of severance packages, additional benefits options, etc.

Some companies facing the financial crisis were able to keep employees happy with reduced bonuses, extra vacation days, and discounted gift cards.

And for many, just having a job was reason to rejoice. Starbucks (#24) suffered from sagging sales, and announced store closings, ultimately affecting employee morale. Quicken Loans (#29) drops from last year’s second spot amid a housing crisis in Michigan.

But not all companies are doom and gloom. A lot of the usual suspects remain high in the rankings this year: Edward Jones (#2), Boston Consulting Group (#3), Goldman Sachs (#9) - a testament to their stellar workplaces.

But the biggest surprise is the debut of Vanderbilt University, the first time an institution of higher learning has appeared on the list. Atlantic Health System debuts at #75 and joins 12 other health care companies - 10 of which are hospitals.

Other new additions: online shoe retailer Zappos.com (#23), the animation division of Hollywood movie studio Dreamworks SKG (#47), networking and security techie Juniper Networks (#84), construction company Gilbane (#91), the Build-a-Bear Workshop (#94), and Kimpton Hotels & Restaurants (#95) - all offer great pay and a variety of great perks and unique benefits.

Layoffs seemed to be common, but for the time being, it seems they’ve subsided. A surprising 93 companies on the list are currently hiring for open positions - nearly 75% of them with 50 or more jobs to fill.

Methodology: To choose the 100 Best Companies to Work for, we conduct the most extensive employee survey in corporate America. More than 81,000 employees from 353 companies responded to a 57-question survey created by the Great Place to Work Institute. Two-thirds of the score is based on the survey, which is sent to a minimum of 400 randomly selected employees. The remaining third is based on our Culture Audit, which includes detailed questions about demographics, pay and benefits, and open-ended questions on philosophy, communication, etc. Any company that is at least seven years old with more than 1,000 U.S. employees is eligible.

by Chris Tkaczyk, http://finance.yahoo.com/career-work/article/106460/Best-Companies-to-Work-For

Labels: 100 best companies, edward jones, netapp

Hi,

Did you know that online spending is predicted to INCREASE by 14% this year?

So despite what you're hearing about the current economy, this is still an EXCELLENT time to start or grow your Internet business!

And I've arranged to get you some FREE help doing it...

You've probably heard of Derek Gehl, right?

He's the Internet marketing guru that's made over $100 MILLION in online sales as head of the Internet Marketing Center.

Derek's been hard at work, researching and identifying the BIGGEST online trends for 2009, and coming up with strategies that ANYONE can use to take advantage of these trends to make more money online this year than ever.

And now he's turned all of his research, predictions, and strategies into a two-hour online
presentation …… and he's given me permission to give you unrestricted access to the whole thing for FREE!

But I know first-hand that, due to the time-sensitive nature of this information, Derek's only
going to make it available for a short time, so if you want to find out how to not just survive in
2009, but actually THRIVE, you need to check it our right away:

http://www.internetmarketing.com/2009-goals/789606

Best wishes for 2009,

Ave Ramel

Labels: hot trends, internet marketing, online trends 2009

Business Accomplishments: Founder of SPANX product line for women.

Sara Blakely literally embodies the can-do spirit that lies within the heart of just about all of us.

A few years ago, when frustrated in her search to find a pair of pantyhose that would offer some slimming features, she took $5,000 from her savings and started her own company to produce exactly that kind of product.

With that product, called SPANX, Sara Blakely quickly became a hero to women all over the world while, at the same time, helping to revive an industry that had been in a slump for more than a decade.

Sara now divides her time between her business ventures and public speaking engagements in which she inspires and motivates women to take on the world through involvements with business, community, and politics.

In her keynote speeches, she talks about her Sara Blakely Foundation, which is dedicated to supporting and empowering women around the globe.

By both her words and actions, she has become widely recognized as a powerful force in both the celebrity world and the world of business and finance.

More hot pictures of Sarah Blakely at http://www.businesspundit.com/sarah-blakely/

Labels: business, sarah blakely, woman

New Year's resolutions are launched with good intentions by the tens of millions every December. And somewhere along the way - usually in January - most of them become an afterthought. The mere topic of New Year's resolutions only gets pulled up again in December, when planning (yet again) for the next year.

But a business goal is a horse of a different color.

Because business goals directly tie-in to one's finances - which in turn affects how we live - we pursue them more aggressively. That's the good news.

However in that pursuit lies several pitfalls. Pitfalls that are well hidden from the naked eye. Pitfalls that only reveal themselves once we begin our business goal achievement quest.

What are those pitfalls exactly? Here are three that strike most entrepreneurs at the least favorable moments:

1) You fell for the infamous "You are LIMITLESS" mantra.
Bestselling spiritual/self-help author Wayne Dyer often reminds his followers, "We are spiritual beings having a human experience."

And even though the soul may be free as vast as the universe - we are still confined to an overcoat of skin and bones and gravity. And it is this temporary overcoat that causes very real limitations.

I mean let's face it, there can only be one American Idol in 2008 (or Canadian Idol or whatever Idol for the part of the world you live in). There's one President, one Queen, one gold medalist slalom skier, one winner of the Best Actor on Academy Awards night.

And even though you may deeply yearn, affirm and visualize holding one these positions, you might not ever end up there.

A good friend of mine had an uncle who owned a horse ranch. He was a masterful rider and dreamt of becoming a famous jockey. But at the age of 16 he was almost 6 feet tall. Which is apparently too tall to become a jockey.

We - as human beings - all have limits. Limits caused by financial circumstances, family obligations, time constraints, lack of knowledge, lack of skill, age restrictions, height restrictions, and so on.

The thing is, limitations should never be viewed as stop signs. On the contrary, they allow us to confidently move in directions that work with our natural talents, abilities and lifestyles. Limitations allow us to see how we can improve ourselves.

So acknowledge your limitations. (It's okay!) And if you can't beat 'em, be confident and wise enough to work around 'em.

2) You didn't anticipate the potential problems along the way - or the residuals of success.
As I write this article the jackpot for the New York state lottery is at $115 million dollars. Manhattan office workers file into the deli's during their lunch hour to stand on those lottery lines, and fantasize amongst each other about winning.

From the middle class viewpoint, a big lottery win looks absolutely delicious. But Dr. Steven J. Danish, professor of psychology at Virginia Commonwealth University in Richmond, paints a very different picture.

"Windfall not always a blessing," psychologists say.

Danish has counseled lottery winners for more than 12 years, and almost all his patients have had serious problems after collecting their winnings. After the initial shock passes, a sense of guilt often arrives, along with the hoards of people asking for money. Giving or leaving money to family -- including mysterious, long-lost relatives -- is often the biggest source of stress, he said."

But this phenomena isn't limited to lottery winners. It happens to entrepreneurs as well.

Yes, your eyes always have to be peeled for the potholes in the road. But you must also consider the problems that come with extreme success.

For example, will you have enough inventory if a positive review of your product generates a flood of 10,000 orders? How will you manage your time fulfilling orders? Do you have a babysitter lined up for business emergencies?

Don't focus on failure. Do create a mindset of preparedness.

3) You focus a lot of energy on past mistakes, instead of learning from them and moving on.
A very dear friend whom I've known for 15 years has been wanting to start his own business for as long as I've known him. Early in our friendship he and his sister-in-law decided to do some kind of venture together. The venture flopped. He lost $4K, while she lost almost nothing.

Over a decade later, he still talks about how much he wants to go into business for himself. But the memory of losing that $4K re-plays itself over and over in his mind. It's the reason why he commutes to a government job every day, instead of taking the plunge and starting his own business.

Sadly enough, he rationalizes his inability to move forward by saying that he'd rather be 100% sure that he's doing the right thing, instead of going in with a half-baked idea.

My outlook as a seasoned entrepreneur is a little different. Nothing in life is 100% guaranteed. The best-laid plans can be thwarted in the blink of an eye. The best you can do is learn from the past (not LIVE in the past) and move on.

by Alexis Dawes http://www.businessgoalbootcamp.com/

Labels: achieve business goals, business goals, set business goals

Dozens of the world's wealthiest lost billions in recent months, but these 10 distinguish themselves for some of the biggest flops.

It was a dreadful year for the world's wealthiest as markets and currencies around the world tumbled.

More than 300 of the 1,125 billionaires we tallied on our annual list last March have since lost at least $1 billion; several dozen lost more than $5 billion.

The 10 richest from our 2008 rankings dropped some $150 billion of wealth, dragged down by steel tycoon Lakshmi Mittal, estranged brothers Mukesh and Anil Ambani and property baron K.P. Singh, who together dropped $100 billion.

America's 25 biggest billionaire losers of 2008 lost a combined $167 billion.

But even in such an awful year, the stories of a few billionaires and now former billionaires stand out as particularly dreadful.

Take David Ross, one of the U.K.'s most successful entrepreneurs. Earlier this month, Ross notified four public companies in which he was a major shareholder and director that he had borrowed against his shares to fund real estate investments that had soured.

He will likely have to sell some of those stakes to pay off his debts. So far he has resigned from three of the four boards and stepped down from his post as an Olympics adviser. His fortune, which we estimated at $1.4 billion in March, is now worth about $150 million.

Bjorgolfur Gudmundsson, former chairman and a large shareholder in Landsbanki, Iceland's second largest bank, saw the firm seized in October as the worst of the credit crisis tore through the island nation.

The failure wiped out his $1.1 billion fortune. He has since had to put his holding company, Hansa, into voluntary liquidation and is selling his U.K. soccer team, West Ham.

Russians were some of the biggest losers in the past year. Vladimir Lisin's Novolipetsk Iron and Steel is down three-fourths since its June peak. Dmitry Rybolovlev's fertilizer company, Uralkali, has fallen 90% since it peaked around the same time.

But those losses pale compared with the troubles facing Oleg Deripaska. In March he was the world's ninth richest person and Russia's richest man, with a fortune we estimated to be worth $28 billion.

Since then Deripaska has been forced to sell shares in Canadian carmaker Magna International and German construction firm Hotchief, and had to borrow $4.5 billion from a state-controlled bank to hold on to his stake in Norilsk Nickel.

He will likely sell off additional assets to avoid losing even more of his fortune, now estimated at $10 billion. Or less.

The biggest loser of all was Anil Ambani. Touted on the cover of our 2008 billionaires issue for having added $24 billion to his fortune in one year, Ambani has dropped $30 billion since then.

But don't worry too much. His Reliance Entertainment is investing $500 million in a new studio venture with Steven Spielberg's DreamWorks. Plus, he remains quite wealthy, worth $12 billion That's something many others can't claim.

Billionaire Blowups, 2008

1. Anil Ambani

March net worth: $42 billion
Current net worth: $12 billion

The biggest billionaire gainer last March is now the year's biggest loser. Ambani lost $30 billion in the past nine months, more than anyone in the world. Stock of his telecom company dropped after his estranged brother helped scuttle a deal with African telecom MTN. It's quite an achievement in a year in which three of his fellow countrymen--estranged brother Mukesh, steel tycoon Lakshmi Mittal and Indian KP Singh, all of whom ranked earlier among the world's 10 richest--lost more than $20 billion apiece.

2. Oleg Deripaska

March net worth: $28 billion
Current net worth: less than $10 billion

Former metals trader survived Russia's gangster wars but may not withstand collapsing markets and heavy debts of at least $14 billion. Russia's one-time richest man recently received a $4.5 billion loan from a state-controlled bank in order to keep his 25% stake in Norilsk Nickel, which faced a margin call by Western banks from which he had borrowed. Other margin calls forced him to divest a $1.5 billion stake in Canadian carmaker Magna International and a $500 million stake in German construction company Hotchief. He's also selling stake in insurance company Inogsstrakh.

3. Anurag Dikshit

March net worth: $1.6 billion
Current net worth: $1 billion

Dikshit designed the software for PartyGaming's successful PartyPoker game, which allowed live gambling over the Web. He left the company and sold a chunk of shares in 2006, the year the U.S. government banned gaming. He recently pleaded guilty to violating U.S. gaming laws and agreed to forfeit $300 million. He could face up to two years in jail but apparently won't be sentenced until 2010. He has already paid $100 million of his fine and will pay the rest in two installments next year.

4. Bjorgflur Gudmundsson

March net worth: $1.1 billion
Current net worth: zero

The October collapse and government seizure of Iceland's second largest bank wiped out the $1.1 billion fortune of Gudmundsson, the bank's chairman and biggest shareholder, along with his son Thor. His holding company, Hansa, has since gone into voluntary liquidation and is looking for a buyer for its U.K. soccer team, West Ham. It's not the first time he's run into trouble. A former shipping executive, he was charged with fraud and embezzlement in relation to the firm's 1985 collapse, and was eventually found guilty on five minor counts and sentenced to 12 months' probation.

5. Luis Portillo

March net worth: $1.2 billion
Current net worth: $15 million

Spain's short-lived real estate gold rush left one of its most visible speculators holding a nearly empty bag. Portillo--who acquired real estate firm Inmocaral three years ago, then led the takeover of the larger Inmobiliaria Colonial in 2006--personally borrowed a reported $1.4 billion from more than a dozen banks during boom times, using his stock as collateral. He resigned as chairman in December 2007 and then tried to sell his stake to a Dubai fund earlier this year. When the deal fell through, he had to sell most of shares to pay debts.

by Luisa Kroll www.forbes.com/

Labels: billionaires, business, entrepreneurs, wealthiest