The only way you can become a STRATEGIST is when you stop trying to fit into someone else’s shoes.
I choose to be blunt here because that is the only way I can make my point to all the aspiring or might I say dreaming entrepreneurs. You cannot just follow a well-worn path and hope to get there. You must go your own way, and make your own decisions to carve out that niche space on the map of today’s business world.
Pick up any successful entrepreneur’s example and the one thing you will notice is that they have their own way of doing things. The world today needs someone to break the mold and be different, to make a change.
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You may have heard of Zuckerberg and Jobs, but these are just two common examples, and many may think that not everyone has the luck to be born with the DNA of these two.
But you do not need to have such a gene match in order to be successful – what you do need is an out-of-the-box way of thinking and an appetite for taking risks.
Take the example of author and optimist Simon Sinek.
Sinek’s book “Start with Why” is a huge success, and his TED Talk has more than 14 million views on YouTube.
He shared his golden rule – to start every endeavor with the question “Why?” Sinek then converted the write-up into a speech which helped him become a victor in the field. I am sure Sinek too must have thought beyond his predecessor’s business strategies – and that is what made him a world leader.
It is indeed a big deal to become a champion strategist, but for that, one needs to clear the hurdles first. Here are 5 ways to counter the opposition and become a World Champion of Business Strategy:
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Understand your Strengths
The first and foremost is to identify your strengths and to understand what you are good at. This is not that difficult. Your strengths may look feeble to you in the beginning but trust me, that is not the case. The idea is to find out what drives you. Once you know that, you can begin maximizing that potential.
Take the example of the world’s chess champion Garry Kasparov. He took up the game of chess when he was just three years old, won his first tournament at the age of 13, and became a grandmaster by 1986.
Chess is a game of psychological advantage. The player must outmaneuver his opponent and Garry developed this skill very early on.
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Business strategy uses the same skills. The idea is to outmaneuver your opponent and start strategizing early. The process sounds complicated, but it is not that hard if you know what you are good at and are realistic about your approach.
Work on your Weaknesses
Understand this – the only hurdle standing between you and your goal is a lack of knowledge. You cannot know everything, but you should understand what your weaknesses are and work on them.
For instance, if you are not good with numbers then hire someone who can handle that aspect for you. Do not ignore any weakness – it will cost you in the end.
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Take for example the advertising giant Ogilvy & Mather whose weakness was the old school concept of advertising-making. They were able to overcome this by buying a digital marketing agency and creating new operational models.
Though the amount of success achieved is still somewhat debatable, the approach to accept and start working on the weakness is what I wish to highlight here.
It is good to follow others, but it is best to custom build your own plans. You are the best judge of the situation and you know your team and customers better than anyone.
It is important to be open-minded, but you should also have a clear vision of what you want to achieve and be ready to make the necessary changes in your planning.
I’d like to give my company MSys Group’s example here. In this time when the world is shut and markets are lying low, we realized the need to come up with a plan to ensure that the company’s operations would not stop.
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What tech giants like Google are applying now – the “Hybrid Workweek,” is what MSys was practicing since the beginning of last year. The result is the company’s stability and sustainability, which has attracted many clients for us.
Build an Inclusive Work Culture
It is incredibly important to have an inclusive work culture. It means everyone can grow and learn in a supportive environment that is also action-oriented and goal-driven.
Having an inclusive work culture helps in nurturing new ideas and facilitates work and progress. One very good way to introduce an inclusive work culture is through diversity & inclusion training.
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This consists of identifying and overcoming biases, barriers, and inequities that exist within the workplace to create a place where everyone feels comfortable.
I have a lot of regard for the way Deloitte works on inclusive work culture.
In the introduction to their diversity and inclusion training, they mention that “We are committed not only to embracing our differences but also celebrating them. We’re committed to being open-minded, tolerant of different viewpoints, accepting of individuals’ unique qualities or gifts.”
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The key point to note here is that inclusive work cultures become the platform for planning and developing innovative business ambitions.
Don’t Be Afraid to say NO
I have often heard the phrase, “yes-person” and I know that this is not a good thing.
Being someone who started as a software engineer working for someone else, I too had to go through the – ‘Whether or not to agree with my boss’ dilemma.
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But thankfully I realized early on that I knew my strengths and weaknesses better than anyone else. It was a great feeling to have the confidence, knowledge, and the ability to say “No” confidently when faced with an opportunity or request for which I lacked the skillset, in order to not jeopardize myself or be seen as “unprofessional.”
I applied the same experience when it came to first building and then executing business strategies for my own company. I knew my strengths, and acknowledged my weaknesses as well, and that helped me stand my ground in front of the venture capitalists.
And anytime I get stuck or am in a dilemma I just remind myself of one of my favorite quotes:
If you are working on a new project or idea, take the time to identify what makes it unique and how that could impact success in this market space. Once you have identified these points of differentiation, tailor your strategy for each opportunity accordingly so as not to waste resources by trying something that may not work well with the goals of the company.
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Finally, do not forget about building inclusiveness into all aspects of your offerings – from product design to customer service representatives and beyond.
The more inclusive we can be when designing our products and services – both internally (within employees) and externally (to customers) – the better off everyone will be.
Sanjay Sehgal has been the Chairman, and CEO of the MSys Group, MSys Technologies since 2007. MSys Technologies is one of the most consistent and trusted companies for its product engineering services, and digital transformation projects for its ISV and Enterprise clientele.
Andrew Dudum, CEO and founder of Telemedicine Company Hims & Hers is facing flak on the social media after his reported statement that he wants to hire students and protestors who are taking part in the protest in support of Palestinians in Universities across the US.
A number of tech sector founders has also condemned his statements.
Dudum had posted on X,
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“If you’re currently protesting against the genocide of the Palestinian people and for your university’s divestment from Israel, keep going. It’s working. There are plenty of companies and CEOs eager to hire you, regardless of university discipline.”
He also posted a link to a page showing open positions at Hims & Hers.
X users have expressed their disapproval and have even called for a boycott Hims & Hers, and others said they are selling their stock in the company.
Cofounder of Palantir Technologies as well as the managing partner of early stage venture capital firm 8VC Joe Lonsdale responded on X and said
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“Real moral courage doesn’t involve joining a mindless mob, chanting anti U.S. and other woke pablum, following instructions not to debate or discuss your positions at all yet being indignantly righteous, while large numbers in the mob chant for violence and block Jewish students.”
While Hims & Hers spokesperson said Dudum were not available for comments, old posts by Dudum have been unearthed which puts in context his actions. Days before the horrific attack by Hamas’ terrorist against Israel on October 7, Dudum had posted –
“In pursuit for peace: Our leaders need to embrace nuance.”
Dudum further explained that he is a Palestinian American and had roots in and family in the West Bank and Gaza and said Hims & Hers’ values are based on a respect for human dignity and life.
Dudum wrote
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“It is upon those values that I believe all leaders and CEOs should use their platform today to call for an immediate cease fire. To actively recognize Israel’s right to defense and also recognize the means and manner in which they are responding violates international law. I ask us to find nuance, and share our voice today to help save innocent lives.”
Deadly protests have hit U.S. college campuses through last month and protest encampments have sprung across more than 40 colleges nationwide.
Police crackdown is on and there have been more than 1,900 arrests or detainments following a wave of activism at universities across the country.
Hims & Hers is a Telemedicine Company that links consumers with licensed healthcare professionals, enabling access to high-quality care for conditions related to sexual health, mental health, and more. It also offers its own range of products and is in a partnership with Los Angeles-based Hustle & Co. on media relations.
Trouble for Microsoft and OpenAI over copyright infringement is not coming to an end, as they face several lawsuits for violating copyrights.
On Tuesday, eight US newspaper publishers sued Microsoft for illegally reusing articles in AI products.
The 98-page long lawsuit further accused the tech companies of attributing erroneous information to the publishers.
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The eight newspapers that have filed the lawsuits include the New York Daily News and the Chicago Tribune.
They allege that OpenAI’s ChatGPT used their copyrighted articles to perfect its language models without permission.
The lawsuit was filed in a New York federal court on Tuesday. The publishers claim that OpenAI’s large language models, GPT-2 and GPT-3, were perfected using datasets containing text from their newspapers.
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The language models are designed to produce text based on human inputs and reproduce copies of the publishers’ works. Microsoft has been indicted for using newspapers for its Bing search index but seldom provided links to the original articles. Four months ago, The New York Times also filed a lawsuit against OpenAI, accusing the tech giant of using data from its past content. It also asked for consent for usage, criticizing the use of full article excerpts in chatbot responses.
The latest lawsuit filed by the eight news outlets also demanded consent and fair value for using their content to perfect the AI language models. The lawsuit alleged that the AI tools literally regurgitate their content without directing users to the content source.
The lawsuit filings stated, “This lawsuit arises from defendants purloining millions of the publishers’ copyrighted articles without permission and without payment to fuel the commercialization of their generative artificial intelligence products, including ChatGPT and (Microsoft’s) Copilot.”
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The eight newspapers that instituted the lawsuits are as follows:
The New York Daily News and The Chicago Tribune, both owned by Alden Global Capital
The Orlando Sentinel
The Sun Sentinel
The San Jose Mercury News
The Denver Post
The Orange County Register
The St. Paul Pioneer Press
OpenAI’s Response
OpenAI did not directly respond to the accusations but stated that it takes great care to support the news and media outlets. It also stated it is in continuous partnerships and conversations with various news outlets around the world to explore new opportunities, discuss problems, and seek out solutions.
Microsoft also stated that OpenAI has entered into fruitful partnerships with a number of publishers, which includes The Financial Times, The Associated Press, Spanish conglomerate Prisa Media, and Germany’s Axel Springer.
Alan Patricof is a prominent figure in the American investment landscape, renowned for his contributions to venture capital. With a career spanning over four decades, Patricof has been instrumental in shaping the growth of numerous global companies, including America Online, Apple Computer, and Audible. His legacy extends beyond business, with involvement in community organizations and government initiatives.
Alan Patricof’s career in venture capital began in the industry’s early days. He founded Patricof & Co. Ventures Inc., a precursor to Apax Partners, one of the world’s leading private equity firms. Later, he established Greycroft Partners, focusing on early and expansion-stage investments in digital media. Throughout his career, Patricof’s vision and leadership have played a pivotal role in advancing the venture capital field.
Alan Patricof’s Net Worth
As of May 3, 2024, Alan Patricof’s estimated net worth stands at over $1 million. His wealth is derived from various investments, including holdings in Boston Properties Inc. and successful ventures in digital media. Despite humble beginnings, Patricof’s entrepreneurial spirit and strategic acumen have propelled him to financial success.
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Alan Patricof Age
Born in 1934, Alan Patricof is currently in his late eighties. Despite his advanced age, he remains active in the business world, leveraging his wealth of experience to mentor emerging entrepreneurs and drive innovation.
Alan Patricof Family: Wife and Children
Alan Patricof has been married to his wife Susan for over 48 years. Together, they have three children and seven grandchildren. Family holds great importance to Patricof, and he credits his upbringing and heritage for shaping his values and work ethic.
Alan Patricof Height and Weight
While specific details about Alan Patricof’s height and weight are not readily available, his stature in the investment community is undeniable. Patricof’s impact transcends physical measurements, as he continues to leave a lasting legacy in venture capital and philanthropy.
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