Summary of “Flexport’s epic plan to build a freight empire with its $110M raise”

“We’re actually out here trying to create value, not just give venture capital money away” says Flexport CEO Ryan Petersen.
Flexport already moves 7,000 shipping containers a month for an average of $2,000 each while taking around a 15% cut, earning it roughly $2.1 million per month from ocean freight alone.
“There’s an Amazon-like element for the enterprise”- Ryan Petersen, Flexport CEO. Now after TechCrunch reported last month that sources told us Flexport had raised a $110 million Series C at an $800 million pre-money valuation, the company today confirmed the deal.
Flexport wants to finance its customers freight, not just ship it.
Customers like Ring, Osmo, and Le Tote could get their freight financed and forwarded all at once, cutting down their logistical headaches while giving Flexport more.
Petersen says Flexport can have “More control” with “Our software, our process in the warehouse.”
Flexport opened its first 12,000 square foot cross-port in Hong Kong two months ago and it’s already jam-packed, so it’s planning to move to a bigger space like the 100,000 square foot spot it has in LA. Petersen says the plan is to open 25 of these, beyond its nine offices that house 500 employees.
Despite its budding empire, Flexport is still only the 23rd-largest freight forwarder.

The orginal article.

Summary of “How Big Banks Became Our Masters”

The White House and Republicans in Congress in the meantime are trying to roll back hard-won banking regulations in the Dodd-Frank financial oversight law.
All of it brings to mind an acronym familiar to financial writers like myself – BOB, or “Bored of banking.” Even some of us that cover the markets for a living can find ourselves BOB. Over the last 10 years, there has been so much financial scandal, so many battles between regulators and financiers, and so much complexity that a large swath of the public has become numb to the debate about how to make our financial system safer.
Lending to Main Street is now a minority of what the largest banks in the country do.
Today, only about 15 percent of the money coming out of the largest financial institutions goes to that purpose.
The big problem is that our banking system would no longer be recognizable to Adam Smith, who believed that for markets to work, all players must have equal access to information, transparent prices and a shared moral framework.
While the largest banks can correctly claim that they have offloaded risky assets and bolstered the amount of cash on their balance sheets over the last decade, their business model has become fundamentally disconnected from the very people and entities it was designed to serve.
Small community banks, which make up only 13 percent of all banking assets, do nearly half of all lending to small businesses.
The financial industry, dominated by the biggest banks, provides only 4 percent of all jobs in the country, yet takes about a quarter of the corporate profit pie.

The orginal article.

Summary of “Prioritize Your Opportunities with This Checklist”

How do you evaluate a business opportunity? The world is replete with SWOT mechanisms for evaluating a prospective new product offering, as well as with opportunity assessment templates for evaluating a project against overall business goals, customer impact, strategic potential, and competitive urgency.
How do you evaluate the myriad smaller opportunities you come across every day? Should you speak at that event? Author a book? Attend a strategy summit?
I learned a fast and effective way to evaluate day-to-day opportunities from Dan Sullivan, the cofounder of Strategic Coach, which I have refined even further for myself.
For leaders and organizations who have more capabilities than opportunities, the challenge is scouting enough of the right opportunities to fill their plate in an optimized way.
Many leaders and teams are blessed with far more opportunities than they can possibly seize.
Of course, it is always appropriate to see if the schedule or timing you are offered can be adjusted to allow you to capture both opportunities when the rewards on both sides are exceptionally high.
Should you take that opportunity, or should you do the thing that is entirely within your comfort zone? In my case, if an opportunity requires me to grow, I will rank it a 5.
Far better is an opportunity that yields cross-pollination – such as referrals to new customers or new opportunities to market the business.

The orginal article.

Summary of “The Top 5 Skills Every College Student Needs To Acquire Before Graduation”

One Harvard expert has reported that for every 100 young people who start college, only 25 get degrees and good jobs.
If you-or your kid-are bent on earning a bachelor’s degree, how can you stack the deck to make sure an attractive job waits on the other end of four years? Take some advice from Sarah Franklin, the GM of Trailhead, a free online learning environment created by Salesforce, who has made it her mission to help educate students at any age or expertise, on today’s most sought after skills to land their dream jobs at any company.
Here are her words about the top five skills she believes every student should master before graduation.
Today, every company is a tech company, which means every kind of business, from beauty to banking, has a need for individuals who know how to code.
Having basic coding skills under your belt will be a huge asset to you throughout your career, and even if you’re not planning to become the master developer, having that skill on your resume can increase earning power and make you more attractive to employers.
My team has partnered with Atlassian to bring agile courses that will provide the skills needed to build and run agile teams across any business.
Learning to take data and interpret it to create insights that you can use to make better business decisions, is a skill that employers are avidly seeking in today’s data-rich environment.
Visit edX’s class “Knowledge Management and Big Data in Business” to start building your business intelligence skills and begin taking the steps that will differentiate you from other job seekers.

The orginal article.

Summary of “The Business Consulting Industry is Booming, and It’s About to Be Disrupted”

Today, over 700,000 consulting firms provide services across virtually all aspects of business globally.
Here’s the issue: Festering underneath the myriad of consulting offerings, methodologies, tools, and firms, lie some vulnerabilities that will eventually unravel the consulting business model – just as other industries like photography, publishing, healthcare, and many others have experienced dramatic disruption.
According to IBISWorld, for example, “The Management Consulting industry is in the mature stage of its life cycle. The industry is characterized by growth in line with the overall economy, an increasing number of industry players, and technological change based on improving efficiency rather than developing entirely new services.”
Labor intensive – Most consulting services rely on humans as the fundamental source of research, analysis, recommendations, process definition, process management, and facilitation; Billable time-based business model – The fee structure underlying most consulting services is tied to billable hours or days, which encourages lengthy, overstaffed engagements to maximize revenue; High margins – The cost of “Goods” in consulting are not products but people.
Last year, for example, the management consulting industry saw a 4.1% growth rate.
The first to feel the detrimental effects of disruption will likely be the large research and advisory firms such as Gartner, Forrester, and IDC. With models that rely on armies of analysts, PDF reports that become outdated the moment they’re published, and significant annual subscription fees, these firms embody the most significant vulnerabilities of the larger consulting industry.
A new approach is needed if the management consulting industry – let alone individual firms and consultants – will have the chance to unlock the next phase of its evolution and value, before some dramatic external threat forces the issue.
Individual consultants and consulting firms that recognize the limitations of their existing business model while exploring opportunities that tap into emerging technologies and new delivery models will have the best chance of thriving in the fast-approaching disruptive future.

The orginal article.

Summary of “I Once Talked To Seth Godin On The Phone: Here’s How It Changed My Life and Business”

Casey coaches business owners on how to scale their companies, helping entrepreneurs become CEOs.
It’s not going to be easy, you’re probably going to hate it, but in the end, you’ll be able to get out of your business and do what you really want.
How a phone call with Seth Godin changed everythingI shared my concerns with Casey, and once again he said, “Jeff, you don’t have to do this. Why don’t you take the next few days to decide what you really want?”.
“Don’t build a business because you want freedom. Build a business because you want to run a business.”
Scale my business, graduate to CEO, and acquire other businesses to help deal with the churn of my industry, eventually creating an 8- or 9-figure company and selling it.
I thought about spending the next two years of their lives trying to scale a business, which felt like precious time to spend on something I didn’t intend to do for the rest of my life.
For me, the business was a means to make an income while I continue to write.
Today, there is a lot of pressure for writers and creatives to start a business, make money doing something they’re not passionate about in hopes of finally having the time to do what they really love.

The orginal article.

Summary of “How This 23-Year-Old Makes Six Figures From Her Online Business”

Meet Sabrina Philipp, the online business coach behind Sabrina Philipp Strategy + Consulting, which focuses on helping both aspiring and experienced entrepreneurs build their business in a way that is intentional, manageable, and profitable.
Philipp: Almost any business can be moved to an online model, so instead of trying to find an idea for a business that would “Work” online, get clarity on what it is that you actually want.
Da Costa: How were you able to quickly scale your business to earn six figures?
My social media management clients began asking me for broader business consulting, so I moved into full-time business coaching.
Before I knew it, I was running a multiple-six-figure business helping others create successful online businesses through private coaching, private retreats in Bali, group programs, courses, and group mastermind experiences where other business owners can collaborate and exchange ideas.
My business will cross the seven-figure mark next year, but I’m taking action to behave like a seven-figure business owner today.
Take the time to gain clarity on what you love doing, who you want to serve, how you want to spend your time, and how you want your business to feel.
Is my favorite movie in the world, but Vito Corleone got it wrong: business is personal, especially when you’re creating a service-based business around a core set of values and message that you feel called to share with the world.

The orginal article.

Summary of “How This 23-Year-Old Makes Six Figures From Her Online Business”

Meet Sabrina Philipp, the online business coach behind Sabrina Philipp Strategy + Consulting, which focuses on helping both aspiring and experienced entrepreneurs build their business in a way that is intentional, manageable, and profitable.
Philipp: Almost any business can be moved to an online model, so instead of trying to find an idea for a business that would “Work” online, get clarity on what it is that you actually want.
Da Costa: How were you able to quickly scale your business to earn six figures?
My social media management clients began asking me for broader business consulting, so I moved into full-time business coaching.
Before I knew it, I was running a multiple-six-figure business helping others create successful online businesses through private coaching, private retreats in Bali, group programs, courses, and group mastermind experiences where other business owners can collaborate and exchange ideas.
My business will cross the seven-figure mark next year, but I’m taking action to behave like a seven-figure business owner today.
Take the time to gain clarity on what you love doing, who you want to serve, how you want to spend your time, and how you want your business to feel.
Is my favorite movie in the world, but Vito Corleone got it wrong: business is personal, especially when you’re creating a service-based business around a core set of values and message that you feel called to share with the world.

The orginal article.

Summary of “How This 23-Year-Old Makes Six Figures From Her Online Business”

Meet Sabrina Philipp, the online business coach behind Sabrina Philipp Strategy + Consulting, which focuses on helping both aspiring and experienced entrepreneurs build their business in a way that is intentional, manageable, and profitable.
Philipp: Almost any business can be moved to an online model, so instead of trying to find an idea for a business that would “Work” online, get clarity on what it is that you actually want.
Da Costa: How were you able to quickly scale your business to earn six figures?
My social media management clients began asking me for broader business consulting, so I moved into full-time business coaching.
Before I knew it, I was running a multiple-six-figure business helping others create successful online businesses through private coaching, private retreats in Bali, group programs, courses, and group mastermind experiences where other business owners can collaborate and exchange ideas.
My business will cross the seven-figure mark next year, but I’m taking action to behave like a seven-figure business owner today.
Take the time to gain clarity on what you love doing, who you want to serve, how you want to spend your time, and how you want your business to feel.
Is my favorite movie in the world, but Vito Corleone got it wrong: business is personal, especially when you’re creating a service-based business around a core set of values and message that you feel called to share with the world.

The orginal article.

Summary of “Best business books of all time”

There are some books that never stop selling, and which the world’s most influential people recommend across generations.
We stayed away from academic books and biographies, and by limiting ourselves to just 15 titles, the final list is not exhaustive.
If you familiarize yourself with these 15 books, you will be left with a thorough understanding of some of the most important business milestones and theories of the last 100 years.
“Barbarians at the Gate” is a genre-defining book, proving that in the right hands, a business story that may seem too complex or arcane to anyone outside of Wall Street can become a gripping and relevant tale.
“Barbarians at the Gate” is considered the best business book ever written by former GE CEO Jeff Immelt, New York Times and CNBC report Andrew Ross Sorkin, and MarketWatch columnist Jon Friedman.
Bill Ackman is one of many of finance’s most influential investors who cite “The Intelligent Investor” as a book that changed their lives.
Warren Buffett, not one to liberally praise business books, called it “Well-reported and well-written.”
Ries first proposed his “Lean startup” approach in 2008, and codified it in his 2011 book.

The orginal article.