The Printer’s Realm

No, no, no… I disagree

So Maggie, what should be your objectives for S2 2007?

Excuse me? I thought YOU would be telling me! (Dazed, incredulous)

Come on woman, just write them down.

And so she goes (foolhardy)…

I was supposed to propose at least 3 killer revenue generating ideas for the whole group, instead I chose to “Manage multiple auditors, internal and external, and not get nailed”. This is probably closer to truth…

I was also supposed to enable a horizontal collaboration network sometime in 2007 - but when dealing with extreme cross country asymmetries and zero corporate compliance, it’s just insane. Instead I chose to “facilitate a financial controlling support system” (I did this already last year, not very successfully as we just hired 1/3 of a Controller), so I just chose to “ENFORCE COMPLIANCE” to it! (Probably the hardest task)

I could have such a simple and great appraisal moment… something like… a simple bonus based on Revenues - Costs - Waste. FORGET IT!

I have on-the-fly, unexpected, subjective, WTF, sometimes self-stated (trap) objectives. Vat-to-doooo…? (!!)

I’ll tell you vat: deal with it and thank God. In today’s workplace, you’re very lucky to have the chance to decide. If you can set your own objectives it means you have decision capacity and you’re trusted. When you’re a manager and you collaborate with your boss, as opposed to executing his/her orders - your life changes. But so does your scope of responsibility.

• Acknowledge that you are in a position of responsibility
• Accept taking and being held accountable for strategic decisions
• Accept sharing responsibilities when you are given capacity to influence decisions by your direct superviser
• And have fun! Being two-in-a-box also means you can speak out and help yourself!

So, next time you want to complain, think twice. Your life could be much better than your victimist mind thinks! 

And of course remember something: this works when there are common interests for the company and it’s growth. As we all know, it takes two to tango…

Drawer closet, circa 1950

Johannes Anderson, Johannes Anderson, Johannes Anderson… Know him? I was in the Puces de Saint Ouen last Sunday, Marche Paul Bert (coolest for XXC furniture). And there I fell in love. It was a drawer closet made in teka wood in 1950 by… yes! Johannes Anderson.

He is not like Arne Jacobsen, Anderson is less known. But he is a very elegant designer. He is Danish of course and I find the handlers of the closet the most interesting elements. They have a very simple semi-circular form to adapt you your hand which is at once very subtle to the vision and the harmony of the piece and very kind on the hand.

Drawers run like silk when you open and close and the water effects on the surface of the teka wood are sublime. I will post a picture as soon as I can, but confort you sight (eye-site ;-)) on this wonderful Ocassional Table from 1960 by the same designer.

And here come the pictures of the closet and it’s significant details ;-)

The big picture

And the handlers

Manage Your Working Capital Wisely

We are all so romantic about business, ideas, creativity, products… But how often do we think about cash management? Here are some tips I have learned (the hard way) to manage working capital.

It’s a challenge for even the biggest firms: sustain working capital and manage the flow of cash through the business. But there are ways to ensure that the operation makes the best use of its cash-on-hand. These combine cash flow budgeting and/or the use of financial resources outside the company.

 

Managing your working capital

Your level of working capital is intimately related to the flow of cash into and out of your business. Simply stated, you need enough working capital to setup the business, pay operating costs, and continue to operate until payment arrives 30, 60 or maybe even 90 days later. But if you’ve used a lot of that working capital to pay for fixed assets, you may find you cannot pay suppliers, buy materials or even pay your salary ;-) It’s wise to maintain a level of working capital that allows you to make it through all these and operate the business.Short-term financing can be used to make emergency purchases or to bridge the gap between month’s-end payables and receivables. It can be negotiated with your financial institution, but should be done before the need arises.

Make a cash flow budget. Your bookkeeper, accountant, accounting software and even spreadsheets downloadable from the Internet can help you anticipate inflows and outflows of money over a period of time. Budgeting allows you to see when a cash crash is likely to occur.

Manage the business risks

You need to consider a number of scenarios such as “What if that big order comes in?”, “What if that big order is cancelled?” or “What if that important client goes under owing me money?” This kind of risk analysis can become part of your cash-flow budgeting process. For instance, if you’re using a spreadsheet to enter cash inflows, reflect that situation by adding or deleting. The repercussions in the weeks and months to come should be immediately visible.

The benefits of new clients

You can reduce the risk of a cash crash due to client over-dependence by planning ahead and having a more diversified client base. If you’re not dependent on one large order or client, your livelihood doesn’t hinge on the health of someone else’s business. Finding new clients will increase revenue, improve your cash flow situation and make you less susceptible to marketplace adversity.

Collect quickly!

To guard against late payments, bill as early as possible and make those invoices as clear and as detailed as possible. It may also be worth changing other billing practices such as invoice frequency: instead of waiting until the end of the month, generate an invoice as soon as the goods or services are delivered.

For big orders, consider progressive invoicing while you deliver the service. For example you can ask for a deposit with the order and then a percentage of the payment at various milestones.

Keep track of your receivables

It’s easy to lose track and then neglect to follow up on an overdue account. Experience shows that the longer you remain out of contact with a customer, the less likely you are to recover the full amount owed.

Monitor costs and inventory

Make sure you’re getting the best possible deal from your suppliers. You can do this by shopping around and getting quotes from other suppliers. They may not be able to give a better price, but may be able to offer better payment terms making it easier on your cash flow situation.

Analyze inventory turnover to determine which items are selling and which are soaking up working capital. Try to keep inventory levels lean so that your working capital isn’t tied-up unproductively.

There we go, some simple actions that could make a world of difference!

Sly Stone

Yesterday Sly and The Family Stone where at the Olympia Hall in Paris. Sly was on for about 4 songs but his “family” did a pretty funky act. I have fond memories of my NYU days listening to Sly (we were quite vintage in my dorm, yes). Sly was instrumental in the development of soul, funk and psychodelia in the 60-70s. He taught San Francisco and the world how to funk & soul.

Last night was cool, short and historical. I am not sure we will see him live again, but we cannot forget songs like Everyday people, Family Affair, and my all time favourite If You Want Me To Stay.

If you do not know Sly and want a bit of history check him out on the PhattaDatta page

Retail commerce in Canada: Beyond Serendipity

Toronto is a great city. World’s safest, most multi-cultural and a true economic motor of Canada. But what I truly loved about Toronto is how people “sell you” stuff in retail commerce. I think Canadians are the ultimate retail sales experts.

It’s not an instrusive sales pitch at all. It’s a kind of natural “flow of demand” where a very expert sales rep is almost anticipating your train of thought and enforcing a seemingly “serendipitous” list of “You Might Need This Too” items.

It felt like an e-comm 1.0 experience where you are prompted into an 30% excess consumption that you are delighted with. What I found the most sublte piece of expertise in this equation was simply the pitch (or the non-pitch): The approach was not “You Need This! Buy This Now” so frequent still in traditional American retail, but rather a soft, consultory and non-intrusive: “Perhaps, As You Are Interested In That, You Might Also Consider The Use Of This…”.  (Wink, wink, great smile, soft tone… Sublime!)

Below is Sam’s store on Yonge street in downtown Toronto. Canada’s mythic record chain filed bankrupcy in 2001 to free music distribution and piracy and evidently internal reasons too, let’s not get too deterministic ;-)

Post#1 at age 34 in Paris, France. Here we go…

This is my first post.

I have scenic panic, or maybe not. I am not sure. In any case I wanted to start this space for friends and family as well as colleagues and potential partners. I am not good at keeping in touch, so it’s not such a bad idea to keep an open channel.

I’d like to use it to post on things in everyday life that draw my interest, new discoveries I learn working in a multinational environment, comments about objects, expressions of art or other things that I enjoy or love.

I will also use it to comment on the random and the absurd, as this conforms an important part of my life.

I want to blog about all of the above for clarification - it will help set my mind at rest (I hope).

Welcome and thanks for visiting!