A Note From The President

Avil Beckford, President

When was the last time you ventured into the land of make believe? One of the books I found myself reading this month is Best-Loved Folk Tales of the World by Joanna Cole and I thoroughly enjoyed it. I wish that life were that simple where the good guy usually wins, but reading the folktales was hopeful, it made me feel that I would always be okay no matter what.

As an active reader, I was really engaged and found myself getting really annoyed at some of the characters. For example, I became so frustrated with Snow White because she kept on making the same mistakes over and over again, because she thought it would be different, she kept on getting fooled by the disguises of the evil step-mother. Why was I frustrated? Is it because her actions are a metaphor for life, my life, your life, where we seem to find ourselves in the same undesirable situations over and over again until we finally get it.

Some people may think it was a waste of time to read folktales, but for me, I thought it was very worthwhile because it reminded me of simple life lesson such as persistence pays, there is no need to be greedy because there is enough for all of us and instead of competing, why aren't we creating?

Because I believe Best-Loved Folk Tales of the World by Joanna Cole is worth the read I reviewed it in this issue of Ambeck Edge. The review is very different to others that I have done because the book includes 200 tales from around the world.

This month we interview Jude Smiley and one of the things you'll learn is that even though you do your due diligence, things can still go awry. From my desk to yours! Avil

P.S. Like this newsletter? Will customize for medium-sized firms that want to distribute it to their staff. Contact me at avil.beckford@ambeck.com and let's talk!

Book Review

Best-Loved Folktales of the World by Joanna Cole

Though Best-Loved Folktales of the World by Joanna Cole is nearly 800 pages in length, it is still appropriate for people with short attention spans because 200 folk tales are included. Because the stories are so short, and there are so many of them, the reader can start reading at any point in the book. You'll find familiar tales you read as a child such as Cinderella, Beauty and the Beast, Sleeping Beauty, Rumpelstiltskin, Ali Baba and the Forty Thieves or unfamiliar ones such as East of the Sun and West of the Moon, Crab, Chelm Justice, Baby in the Crib, Salt, The Bunyip, and Faithful Even in Death. As an adult, you'll approach these stories much different from the way you approached them as a child. You'll view them with a different set of lens all based on your life experiences. You may find yourself sympathetic toward a character in a tale while you could be frustrated with characters in other tales because they keep on making the same mistake over and over again.

I enjoyed reading this book because I was introduced to stories from all over the world, the majority of which I had never heard about. And, it was amazing to find the same story with a different spin because of cultural differences, such as Rumpelstiltskin and Tom Tit Tot. The folk tales reinforce that we are not as different as we think. The author organizes Best-Loved Folktales of the World by regions and if you are like me, the first section in the table of contents that I rushed to was the Caribbean and was delighted to see an Anansi story from Jamaica among the 200 stories. There were other Anansi stories that originated from the Ashanti Tribe in Africa. For those of you who may not be familiar with the Anansi stories, Brother Anansi is a trickster.

Another good thing about the way the book is organized is the Index of Categories of Tales, which allows the readers to quickly see which tales are appropriate for children, wonderful to read aloud, have a moral, are for women and girls and so on. If you like drama, adventure, romance, mystery, horror or fantasy, there is a tale for you. After reading Best-Loved Folktales of the World, you'll be reminded of the following:

1. Share what you have with others because there is enough for everyone
2. Persistence pays
3. Operate with honesty and integrity: do not claim the work of others because the truth has a way of coming out and the consequences can be dire
4. Asking for help shows strength
5. Dream big
6. Appreciate what you have instead of pining over what you don’t have
   

I recommend Best-Loved Folktales of the World by Joanna Cole because it’s not only a page-turner, but it allows you to tap into your inner child and have some fun. Take a step back in time and remember when....

March's Book List

Best-Loved Folktales of the World, Joanna Cole

Fearless Girls, Wise Women & Beloved Sisters: Heroines in Folktales from Around the World, Kathleen Ragan

Survey Results

According to the 2007 Corporate Issues Survey by the Ken Blanchard Companies®:

The top five organization challenges faced by top management in order of priority are:

• Competitive pressure
• Growth and expansion
• Skill shortages
• Pricing sensitivity
• Governmental regulation
  

The top five issues facing managers in order of priority are:

• Developing potential leaders
• Selecting and retaining key talent
• Creating engaged workforce
• Customer loyalty
• Reducing costs
  

Source: http://www.management-issues.com/Downloads/Blanchard_2007_Corporate_Issues.pdf

How Did They Do That?

Interview With Jude Smiley, CEO - Rainmakers Inc. http://www.makingprofitspour.com

Challenge: A few years ago I was offered an ownership position in a packaging design company. I didn’t know the owner very well but thought it seemed like a good opportunity to utilize my skills and experience building a design consultancy. I had recently sold my own marketing and design company and was looking for a new venture. This company seemed to be doing great and was ready to move to the next level. I did what I thought was good due diligence and decided to jump in.

After a few months into this new arrangement it became very clear that the other partner was not only dishonest, but had been stealing from clients and embezzling company funds. My gut tangled in knots as I considered all my options. It wasn’t as easy as selling my equity and getting out, my name had been tarnished and my financial resources were already tied up. It looked like it was going to cost me a lot of money and heartache to disentangle myself.

Instead of acting in haste, I sought the counsel of my lawyers, my mentor and some other trusted associates. Together we came up with a plan to remove the partner from the company, make restitution with the clients in whatever way we could, and minimize any additional risk by locking up bank accounts, client files and so on. Once I had a plan in place, I went to the other partner and told her I wanted a 'divorce' from the partnership. We had a long conversation and I left the office that day feeling like I was going to be okay.

When I showed up for work the next day, I walked into an empty space. No furniture, no computers, no nothing. Thankfully, I had approached all the staff and our largest client and let them know what was going to happen. It was an interesting few weeks with lawyers, police and bank managers. Thankfully I had put the controls in place so that I and my reputation were protected early on.

Resolution: Once the initial shock wore off I started to think about how I could have done things differently. I realized that I hadn't listened to all the clues or 'red flags' that kept coming up at the beginning of my discussions with this person. I decided instead to think with my head instead of listening to my gut which is always a big mistake.

A year later, all the company's debts were paid, staff had found new jobs and I decided to dissolve the company. We filed criminal fraud charges against the partner which are still pending.

I also came to a real sense of clarity about what I was really good at, and how I wanted to best serve the world. The services we were selling at the packaging company weren't anything I was really passionate about and so it made sense to walk away and start fresh.

Lessons Learned

1. Always follow your gut. Learn how to read your own signals. For me a positive step is a strong feeling of excitement and passion. A negative is an empty, kind of dead feeling. When I first engaged in conversations with this person, I always felt strangely calm and without any enthusiasm.
2. Do an enormous amount of due diligence. Don’t just read financial statements, get out there and talk to the clients, talk to the suppliers. Trust the instincts of your lawyers and mentors. They know what they are doing. It turned out that the financial statements that I “bought” into were extremely inaccurate and brought fraud charges to the table after they were reviewed by an outside accounting firm.
3. Take action immediately. The minute I sensed something was really wrong, I took any and all actions I could to protect myself further. By doing that, I managed to save $100,000 in potential damages and ensure that my ex-partner couldn't tarnish my name any further. I camped out at 7:00 a.m. one day to meet my bank manager with all the legal documents and made sure we had locked all access to the accounts. My ex-partner showed up at 8:30 a.m., stood at the teller and tried to pull a cash advance out of the company. If I hadn't acted that day, she would have gotten away with it.
4. Build your reputation. At the end of the day your reputation is all you have. Thankfully my reputation was strong in integrity and excellence. Whenever my ex-partner tried to tell lies or slander me, she was met with a very unresponsive audience. People already knew me, and that I would do the right thing, no matter what.
5. Don't assume that other people think or operate with the same morals and ethics as you do. This was a hard lesson for me but an important one. It has taught me to ask better questions, check references and communicate openly about the standards I have for myself and what I expect from others.
   

What Can Ambeck Do For You:

Ambeck Enterprise provides diverse business research and analysis services to senior executives, through the relevant distillation of diverse facts and data.

Formula for Success

• Exist to serve – instead of asking what you want from this life, ask life what it wants from you.
• Focus on your passions
• Decide what you truly want and create a plan to achieve it
• Take action everyday
• Recognize your accomplishments along the way
• Never sacrifice your integrity
• Enjoy the Journey
  
  
  

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