How Amazon Stays Ahead of the Game

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Amazon is no stranger to staying ahead in the tech industry, and its web services sector is no different. Amazon Web Services, or AWS, leads the online computing industry offering services at prices that no competitor will be willing to match. How did AWS manage to gain such a competitive advantage whilst keeping long-term sustainability a goal? Here are a few key points in their strategy that have helped them be successful:

  • Be an Opinion Leader: “The idea seems to be to dominate not so much by the traditional “vendor lock-in” of hooking customers on proprietary technology, but by making itself the center of the styles and habits of cloud computing.”
  • Look to the Long Term: Mr. Jassy, head of AWS, said “We’re extremely long-term oriented,” he added. “We’re trying to build a relationship with our customers that will outlast all of us in this room.”
  • Know Your Strengths: Amazon has developed some of its competitive edge by buying technology from smaller firms and applying it to their giant infrastructure.

Knowing which fields your business can improve in will help it develop core competencies that will give your company a competitive edge. AWS has understood this, and with it has built a service with which no competitor can compete. Its intelligent business tactics lend AWS access to the latest technology before it becomes available to their competitors, and securing their position at the top. Applying these tactics to your own company will help you stay ahead of your competition, and stay there.

Read the full article in the New York Times here.

Over-Demanding Employers Spurring “Gig Economy”

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Corporate life in New York City is infamous for being grueling, demanding, fast paced, and intense. Still, the bustle of the city that never sleeps attracts the brightest minds. Yet despite the recent upturn in the economy, workers are unhappier than ever with the increasing demand that seems to have gotten out of hand as of late. People are working more hours for less money, and frustrated with the results. Additionally, the cost of living in New York has rapidly outgrown average salary growth. Here are a few key ways that employees are adapting to what is increasingly shifting towards what experts are calling “the gig economy:”

  • Freelancing Becomes Norm: With employees feeling like they’re working around the clock anyways, many are figuring: why not work for myself? Many employees are supplementing their income (or replacing it entirely) with freelance work where they often make more money than they otherwise would have.
  • Layoffs Burdening Star Employees: Managers seeing big returns from layoffs of low performing employees are continuing to do so at the expense of over-burdened high efficiency employees, resulting in only 19% of employees in industries like the tech industry being “very happy” with their job.
  • Growth is Misleading: Most of the job growth has been in the healthcare, fast food and retail industries where salaries average below $25,000 a year.

So what does this trend mean for your business? Expect your competition to be not only rival agencies and businesses, but you must also be weary of freelancers who are looking to take your clients and can do so at a lower price. Graphic design and PR will get cheaper as supply becomes more accessible as freelancers flood the market, while those still at agencies will likely feel a similar strain. However, top talent will still be attracted to top firms, and the compensation and perks will be there to compensate them for premium work.

Read the full article in Crain’s New York Business

Using the Latest Technology to Increase Productivity

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Part of maintaining a competitive edge in business is making sure you are keeping up to do with the latest technology. The right network and infrastructure can dramatically increase the efficiency of your employees and your company. That said, here are some infrastructure-enhancing technologies that can revolutionize the way your company does business:

  • High Performance Mobile Networks:With over half of all workers using their phones to access work-related content, it is important to have a solid phone and network that will be there when you need it.
  • Social Networking: Interact and target your audience using social media to drive sales and raise awareness for your brand.
  • Cloud Computing: Access your data anywhere with cloud computing technology. Increasing your productivity, data security, and efficiency, you should look into adopting software like Google Drive or Dropbox for your company.

Technology is core to keeping a business up to date. Adopting the technologies above will make for happier employees who are able to effectively do their job by empowering them to effectively manage their data and target your appropriate audience.

Here is the full article on Tech.co

Don Charlton Breeds a ‘Culture of Candor’

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Don Charlton is the CEO of Jazz, a recruiting software firm. Recently interviewed for Adam Bryant’s Corner Office segment, Charlton discusses the challenges of succeeding in business as a black man and how that has shaped the culture of his business. Ranging from asking very direct questions to acknowledging the dog-eat-dog nature of business, his management style is blunt and hands-on. Here are some other key points Charlton had during his interview:

  • Be Self-Aware: “So you want the candidate to recognize the aspects of themselves where they can be confident and the parts they’re going to need for them to be successful in a new company.”
  • Be Prepared for Self-Improvement: “If you failed at this job in your first 90 days, what things wouldn’t you be doing well? And what don’t you know, but know you need to know, in order to be successful at this job?”
  • Ask Others How They Got to Where They Are: “The more you know about those journeys, the more people you talk to — just asking a simple question like “How did you end up getting into this career?” — the more you’ll start to recognize when the ground under your feet is moving you in a particular direction.”
  • Be Direct: “One thing is the culture of candor. After we have a big meeting with all of our employees, I might say, ‘Hey, you know that conversation that you’re going to have over lunch or at the bar where you might say, ‘Why don’t we do such and such?’ Well, that’s the question you should ask right now.'”

This “culture of candor” conditions employees to be ready for the challenges that are brought on by the nature of business. Hammering out weaknesses before they become relevant is key to success, and we believe Charlton’s culture does just that.

Read the full article in the New York Times here.

Google vs Apple: Tech Giants Duke it Out to Serve You Better

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With Google and Apple in a perpetual war to provide you with their tech goods, what is even worth paying attention to anymore? Will any of their new products or features really save you time? Here are a few new features the tech giants have announced, and how they may prove useful to your business and personal life:

Apple:

  • Siri Spotlight: “Suggests people to contact based on future meetings or nearby businesses. It will also find gas stations once you’re near the rental-car office,” as it gathers data on your patterns and behaviors to better serve you.
  • Traffic: Apple will phone tap traffic signals to let you know the most optimal time to be leaving your meeting in order to make it to your next endeavor before getting caught in the traffic or rain.
  • Privacy: Apple’s devices will know a lot about you, but Apple won’t as personal data will never leave your device.

Google:

  • Google Now: Have content from emails and messages instantly become entries on your calendar. Receive an email to meet a certain deadline? Set a reminder with just a single tap.
  • User Data: While Google doesn’t sell your info, it does use it to target to your for paying advertisers. If this makes you uncomfortable, you many want to opt out.
  • Invasive, but Helpful: Google is counting on using your data to best serve you and save you time. But how much it peeks into your data may be off-putting to certain users.

Overall, both giants are looking to save you time and money, but ultimately it may come down to how much of your privacy you are willing to give up in order to receive the best service. Is the convenience worth giving all your information over to Big Brother? That is for you to decide.

Click here for the full article in The Wall Street Journal

3 Tips to Keep Your Start-Up Afloat

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Here at Voice of Reason, we are no strangers to start ups and start up culture. We see many of them rise and fall, and we know it takes much more than just hard work to really see success. Proper strategy and business will drive results within your company. Here are a few tips to ensure your business is headed in the right direction:

  • Know Your Target Market: Understand your customer and know what matters to them. Knowing what they want from your product is key to delivering what they need.
  • Have a Sound Business Model: Proper strategy for value creation and capture will ensure sustainability in your business. Dumping money into unnecessary products and services will hurt your bottom line.
  • Make Sound, Rational Decisions: It is important to be passionate and dedicated to your business, but ensure your decision making is based on hard data, and not your emotions. Too often charismatic leaders will bring their company to ruins because of ideas that should have been altered or even terminated completely.

Running your own business is one of the most challenging endeavors anyone could possibly take on, but with proper guidance, rationale, and hard work, your business will prosper. Know your customer, understand the value your business creates, and success will follow.

Click here to read the full article in Stanford Business

3 Misconceptions About the Internet That Are Costing You Money

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There is no way your business can avoid using the internet, and understanding its users is key to gearing your product towards your audience. Many business owners tend to keep with tradition and will disregard all the business they’re missing online as they don’t see their customers as online shoppers. But the truth is that there is much to be gained from being online, and there are plenty of shoppers who can’t wait to have your product conveniently delivered to them.  Here are a few misconceptions that many companies have while they’re on the internet:

  • I Can Only Reach Young People: Though it’s often tech savvy millennials who are credited for owning the internet, people of all ages are using the internet now more than ever. While young people were quicker to adopt the internet, this simply isn’t the case anymore. Over 58% of seniors are online today!
  • It’s a Boys Club: Internet usage has reached gender parity, with 85% of men and 84% of women using the internet.
  • My Product is Too High End to be Sold Online: People who are online are much more likely to have attended college. Also, though the gap may have narrowed, there are still far more people on the internet who earn over $75,000 than people who earn below $30,000. This means any product will have plenty of potential customers online!

If you ignore the vast amount of customers waiting for you online, they will simply go to your competitors instead. Don’t let preconceived notions of what you think about the Internet hinder your business. Take advantage of what’s offered online by having a Search Engine Optimized (SEO) website, engaging your customers on social media, and generating sales via an e commerce suite on your website.

See the full article with graphs here.

How to Approach Conflict in the Workplace

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Conflict is a natural element to any functioning workplace, but dictating its course can be the difference between healthy discourse and petty ad hominem attacks resulting in lost productivity. What is the best approach to ensuring a conflict becomes constructive? Phyllis Korkki gauges conflict in directness and intensity in her article in The New York Times. Here are a few key points from her piece:

  • Opt for unambiguous conflict resulting in debate: “The preferred form of communication is high directness/low intensity … With this method, people tend not to focus on any personal stake they could have in their positions. They listen to others’ views and take them into account while working toward a positive outcome.”
  • Avoid high intensity conflict, as employees will become defensive: “When conflict is expressed with high intensity, whether directly or indirectly, the issue can start to feel personal to the parties involved…people may respond by attacking others or defending themselves. They are more likely to dig into their positions without listening to other viewpoints and processing new information, meaning that an effective resolution is less likely.”
  • Make healthy conflict resolution part of your office culture: “When more people understand what healthy communication looks like at work, and the more that people practice it, the more likely they will exhibit it themselves.”

As a manager, it is your responsibility to maintain a harmonious office conducive to productivity and free of negativity. You should keep these points in mind in order to foster a healthy work environment, resulting in happier employees who feel respected and valued.

For the full article on the New York Times click here.

Is Aaron Levie Really Thinking Outside the Box?

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box-blog427Silicon Valley CEO Aaron Levie dropped out of college ten years ago to start his company, Box. Providing cloud computing services, Levie’s company is currently worth $2.1 billion and services over 40,000 paying customers which includes about half of the Fortune 500. However, it is not meeting growth projections and is counting on creating an ecosystem just as Apple and Microsoft have with their products. Levie argues it can be the center of a new industry “by helping other companies and third-party consultants create applications that can quickly draw off Box’s cloud-based collaboration technology.”

Despite these ambitions, Box has lost $167 million on revenue of $216 million which is still an improvement from the year before. This year, revenue is expected to grow by another 30 percent, “a marked slowdown that Mr. Levie hopes the new developer strategy may also turn around.” These losses scare not only Box, but also the generations of young tech ventures that never experienced the massive downturn that took place between 2000-2001.

Seasoned investors worry that newcomers may not take the risks as seriously. Ultimately, the losses faced by Box and newer tech companies as they rapidly grow are starting to catch up with them, and may be the beginning of a new downward trend in Silicon Valley.

Read the article here on The New York Times

Aim For a Mix of “Doers, Thinkers & Feelers”

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Nancy Dubuc is the Chief Executive of A&E Networks, a global entertainment media company. In a recent interview with Adam Bryant of The New York Times, Dubuc spoke about the importance of trust, the value of constructive thoughts and the idea of mixing “doers, thinkers and feelers” in the workplace. Here are some key points taken from the interview:

  • Worrying doesn’t achieve anything: “Don’t worry about it because it’s not going to turn out that way anyway… so much of what we worry about is the outcome, and outcomes rarely turn out the way you think they’re going to… it might be better.”
  • There are two types of candidates: “There are very few black-and-white truths in management or in business, but one that I have found is that people either hire people who are smarter than them or people hire people they can control.”
  • Are difficult employees often the best performers? “Another pattern I’ve seen is that managers will sometimes complain that one of their employees is difficult to manage. But those difficult people often tend to be the best performers.”
  • There’s no one way to manage: “Great managers recognize that there is no one way to manage.”
  • Trust is crucial: “I need to trust who works for me, and they need to trust me. Trust is just paramount… It really needs to be trust by action.”
  • Constructive comments are most useful: “I value people who have something constructive to say and can make things better.”
  • Hire a mix of thinkers, doers and feelers: “If you have all thinkers nothing will get done. If you have all doers that can be really chaotic because you’re not necessarily thinking about the consequences. And feelers are important because they create energy – but if you have too many of them, they will just dramatize the moment.”
  • Ultimately it’s all about balance: “When you put the different kinds of people together in the right way, that can be very powerful. You never want that out of balance.”

Click here to see the full interview in The New York Times.