Recommendation: August Turak: Business Secrets of the Trappists
Last night, I went to a lecture by August Turak at Duke’s Sanford School of Policy. It was co-sponsored by Leadership North Carolina and was so close to home, I had to attend even though I had no idea who August Turak was and was leary of the topic. August Turak is an entrepreneur who spent several years visiting with the monks at Mepkin Abbey in SC. This was such an inspirational speech, I recommend anyone who gets a chance to go hear Turak speak and be transformed! It was based off of Turak’s 4 part article series in Forbes magazine, Business Secrets of the Trappists. He was transformed by his experience with them and now spreads the gospel through a business filter.
My biggest takeaway from this speech was the importance of the “transformation of being” and how going through this process can help you reach your greatest potential. He applied this concept to organizations as well. The greatest way to get to this is by being connected to a community of people who also want to go through this process (and staying away from those who are negative and against it). Attending this session gave me confirmation for a route I’m considering with my new business.
Definitely attend seminars like this to get inspiration for your business. Especially if you live near colleges and universities, they always have free, public lectures given by very prominent speakers. Check out a few of the lecture schedules for business schools in the Triangle:
Duke’s Fuqua Distinguished Speaker Series (also has video archives of previous speakers)
NCSU Wachovia Executive Lecture Series
UNC Kenan-Flagler Dean’s Speaker Series & Weatherspoon Lecture (also has video archives of previous speakers)
Recommendation: August Turak: Business Secrets of the Trappists
Last night, I went to a lecture by August Turak at Duke’s Sanford School of Policy. It was co-sponsored by Leadership North Carolina and was so close to home, I had to attend even though I had no idea who August Turak was and was leary of the topic. August Turak is an entrepreneur who spent several years visiting with the monks at Mepkin Abbey in SC. This was such an inspirational speech, I recommend anyone who gets a chance to go hear Turak speak and be transformed! It was based off of Turak’s 4 part article series in Forbes magazine, Business Secrets of the Trappists. He was transformed by his experience with them and now spreads the gospel through a business filter.
My biggest takeaway from this speech was the importance of the “transformation of being” and how going through this process can help you reach your greatest potential. He applied this concept to organizations as well. The greatest way to get to this is by being connected to a community of people who also want to go through this process (and staying away from those who are negative and against it). Attending this session gave me confirmation for a route I’m considering with my new business.
Definitely attend seminars like this to get inspiration for your business. Especially if you live near colleges and universities, they always have free, public lectures given by very prominent speakers. Check out a few of the lecture schedules for business schools in the Triangle:
Duke’s Fuqua Distinguished Speaker Series (also has video archives of previous speakers)
NCSU Wachovia Executive Lecture Series
UNC Kenan-Flagler Dean’s Speaker Series & Weatherspoon Lecture (also has video archives of previous speakers)
I’m Telling You, It Works
I read a really great article at Black Enterprise’s website about business owners using their combined resources for a bigger bang. The article, Implementing a Strategic Partnership, provides real world examples of what can happen when business owners join together, especially during these times, to grow individually and support their communities.
I’m Telling You, It Works
I read a really great article at Black Enterprise’s website about business owners using their combined resources for a bigger bang. The article, Implementing a Strategic Partnership, provides real world examples of what can happen when business owners join together, especially during these times, to grow individually and support their communities.
The Perks of Subcontracting
Last year, I attended a seminar about diversity in contracting. While there, I spoke with an executive of a prime contractor of the U.S. EPA. He stressed for me to share with clients that the best way to start work with the federal government is through subcontracting. It is how they got started and within a few years, they became a prime. Going this route, you learn about the major players, make the right contacts, and show that you do good work.
Subcontracting usually occurs with government and construction contracts but could really be referred to with any project (think “outsourcing”). Subcontracting to Snag Stimulus Dollars, an article from The Wall Street Journal, provides an excellent summary for what this can really do for a business.
When considering this route, definitely consider its implications. Subcontractors should ensure they have the resources available to work the contract at least 60 days without expecting payment (and that’s being conservative). Depending on the payment terms, a customer may not pay for 60 days, or even 90 days. That leaves the subcontractor on the hook for labor, material, and other costs directly associated with the contract for a significant amount of time. Fortunately, contract financing is a viable debt instrument which provides bridge financing for contractors to meet their obligations while awaiting payment. Ultimately, make sure an agreement is in place that addresses the needs of all parties. The article, Subcontractors – One More Reason for a Contract, presents a compelling argument to ensure you make this happen.
To go after these contracts, the best advice there is – network, network, network. This can put you in front of those that hold the information that will best position you to win. Bundling, the placement of multiple jobs under one contract, is a growing trend (check out this roundtable held by the U.S. Senate Small Business Committee) – it would be at your disadvantage to not know who could win those bundled contracts and pursue relationships with them. We’ll talk about networking later!
