linked to the ironic unknown

December 27, 2010

So… I don’t know how many of you use LinkedIN. As it turns out, I do. And, we average two new clients a month that we can directly attribute to the business network. So, I’ll take the position it’s worth the fifty dollars we pay for the extra inMail capability.

Recently I was looking for a Subject Matter Expert (“SME”), and I found a good one on LinkedIN. But, my inMail went unanswered for several weeks until his wife, who was rummaging around on his laptop, and just happened to stumble upon the link herself, advised me that her husband was deceased. That all struck me as a bit creepy. So… It’s rather unsettling to realize that, over the course of time, more and more profiles will be a lingering memory of people that are deceased. So… You can really see dead people on LinkedIN.

In the cases of the lonely or unattached, who would know to remove the profile? Who will police that?

By the way… I was meeting with a gen-something (who really cares?) upon the request of a friend (it was his son). The young lad was twenty three and a recent graduate of Georgia. He confidently advised me that he was a social media expert (seriously). When I inquired about business context, he actually waved me off and told me that did not matter in business these days. I almost gagged on the irony (and, didn’t even need a spoon).

…oh… And, he told me LinkedIN is dead.

…he’s also unemployed, with few prospects.

…which reminds me… It’s amaz­ing how the only day most people use LinkedIN is the day they lose a job.

Let’s be part of the Solution.

Brian Patrick Cork

income

December 20, 2010

“They” say that your income is the average of the five people that you spend the most time with (outside of your family).

This helps make my Grandad’s point when he often said: “If you must judge a man, do it by those around him”.

The thinking around this post is not driven by statistics. And, this is some what unusual for me. I’ll typically make my point with hard data to support them – all of them.

However, here, I’m making a statement that I believe is true. This belief is driven by instinct. And, I trust my instincts. I will be investigating my theory. But, in the meantime, your own gut will follow my position.

This may not make you part of the solution. But, it’s a start. A big part of our job should be making money. It’s okay to do that. Really. I’ll write you a note.

Brian Patrick Cork

investment insurance, not

November 10, 2010

I’ve raised a lot of money for a broad-range of companies and industries over the years. And, one question that pops-up generationally is how to mitigate risk for investors.

Below is a real exchange between one of my Accelerator Element principals and myself. We have been successful recently in closing a round of $4mm through an Exec-with-Check (amazing in this economy, I know), and the question finds us again:

QUESTION:

—–Original Message—–

From: [mail: name protected]

Sent: Wednesday, November 10, 2010 2:21 PM

To: Brian Patrick Cork

Subject: Question

“Brian,

What do companies do about the $100K limit of FDIC for deposited funds?  Do they spread the money around to multiple banks?  We will likely have $750K by the end of the month and hopefully the balance of the $4M by the end of the year (possibly middle of 1st Quarter).

[name protected]“

ANSWER:

The money is simply always at risk.

This also applies to money in savings accounts at big banks.

All of it is relative.

But, the risk is low percentage unless the vehicle is, well, risky. Banks are low risk, while ventures like DSI are deemed high risk. NOTE: The odds are your DSI is classified as high risk on the” risk pyramid (such a measurement actually exists)”, and the money will be lost.

Any effort to spread the money across multiple accounts will be compromised by cost associated with the time to manage it, and the associated fees.

One way to assuage the fear of an investor, and in this case, a new principal, would be to implement key-man insurance. Otherwise, the FDIC measure aside, there exists no other form of insurance or protection outside of best practices, great strategy, and good luck.

Brian

This isn’t new. But, reminders are always vital – just like repetition is critical for improved performance in both business and athletic efforts.

A key coaching tenant of mine is that everyone (including myself) should have a minimum of a three year plan. Five years is better because it requires stretching and having a sense of emerging trends. This is more vitally important, today, than any other time in global business.

Let’s be part of the solution.

Brian Patrick Cork

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