Alibaba Chairman Daniel Zhang does this one thing each year to measure his success

CEO of Alibaba Group Daniel Zhang Yong delivers speech at Hangzhou International Expo Centre on May 31, 2018 in Hangzhou, Zhejiang Province of China. Daniel Zhang had his work cut out for him taking over from Jack Ma as chairman of Chinese e-commerce giant Alibaba. The point of this process, Zhang said, is to focus on new opportunities, and not necessarily the immediate performance. Maybe they will become a main business for Alibaba,” Zhang said in the interview. Zhang, who’s been CEO since 2015


CEO of Alibaba Group Daniel Zhang Yong delivers speech at Hangzhou International Expo Centre on May 31, 2018 in Hangzhou, Zhejiang Province of China. Daniel Zhang had his work cut out for him taking over from Jack Ma as chairman of Chinese e-commerce giant Alibaba. The point of this process, Zhang said, is to focus on new opportunities, and not necessarily the immediate performance. Maybe they will become a main business for Alibaba,” Zhang said in the interview. Zhang, who’s been CEO since 2015
Alibaba Chairman Daniel Zhang does this one thing each year to measure his success Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: stella soon
Keywords: news, cnbc, companies, zhang, ideas, measure, deliver, jack, daniel, alibaba, stores, thing, tough, hangzhou, does, success, sales, chairman


Alibaba Chairman Daniel Zhang does this one thing each year to measure his success

CEO of Alibaba Group Daniel Zhang Yong delivers speech at Hangzhou International Expo Centre on May 31, 2018 in Hangzhou, Zhejiang Province of China.

Daniel Zhang had his work cut out for him taking over from Jack Ma as chairman of Chinese e-commerce giant Alibaba. He recently revealed one of his top strategies for keeping the company at the top of its game.

In a September interview with McKinsey Quarterly, Zhang said he does a self-evaluation every Chinese New Year to assess the number of ideas and businesses he initiated in the past year. The point of this process, Zhang said, is to focus on new opportunities, and not necessarily the immediate performance.

“Today they may be new ideas — very tiny, very small — but they may become much bigger in the future. Maybe they will become a main business for Alibaba,” Zhang said in the interview.

His inspiration for some of these ideas come from customer pain points. That’s how Zhang hatched the idea for Alibaba’s Freshippo retail stores. He said traditional e-commerce companies couldn’t deliver fresh produce to customers on demand.

“It’s not like you can deliver fresh fish to a customer’s home while she is still in the office,” Zhang said.

Freshippo’s physical grocery stores were developed to address that. After shoppers visit the high-tech store, their grocery lists are saved in the Freshippo app. In the future, they can have the same items delivered to their homes instead, as fast as 30 minutes.

While Zhang says he gives Alibaba employees the opportunity to test new ideas, he’s “very tough” once a decision has been made, and wants his teams to deliver concrete results.

“While I speak softly, I always make the tough decisions,” he said.

Zhang, who’s been CEO since 2015, stepped up to the chairman role after co-founder Jack Ma retired last month.

Their leadership styles seem in contrast as Ma is typically cast as the eccentric visionary, while Zhang is seen as being more calm and collected.

But despite those personality differences, Zhang is also credited with some of Alibaba’s major hits like the “11:11 Global Shopping Festival,” a 24-hour sales promotion. Last year, sales on that day hit a record high of $30.8 billion.

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Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: stella soon
Keywords: news, cnbc, companies, zhang, ideas, measure, deliver, jack, daniel, alibaba, stores, thing, tough, hangzhou, does, success, sales, chairman


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Goldman Sachs stays bullish on the British pound, predicts Brexit deal success

Analysts at Goldman Sachs are maintaining a recommendation to buy sterling, projecting that the pound could rise to $1.30 in the event of a Brexit deal before the October 31 deadline. In a note published over the weekend, Co-Head of Global Foreign Exchange and Emerging Market Strategy Zach Pandl told investors that despite Friday’s substantial rally upon hopes of a Brexit deal, sterling likely has “further to run,” and retained the $1.30 price target initially set on October 4. The currency fell


Analysts at Goldman Sachs are maintaining a recommendation to buy sterling, projecting that the pound could rise to $1.30 in the event of a Brexit deal before the October 31 deadline. In a note published over the weekend, Co-Head of Global Foreign Exchange and Emerging Market Strategy Zach Pandl told investors that despite Friday’s substantial rally upon hopes of a Brexit deal, sterling likely has “further to run,” and retained the $1.30 price target initially set on October 4. The currency fell
Goldman Sachs stays bullish on the British pound, predicts Brexit deal success Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: elliot smith
Keywords: news, cnbc, companies, bullish, sachs, zach, brexit, goldman, british, week, predicts, success, yielded, pound, sterling, stays, deal, 130, weekend


Goldman Sachs stays bullish on the British pound, predicts Brexit deal success

Analysts at Goldman Sachs are maintaining a recommendation to buy sterling, projecting that the pound could rise to $1.30 in the event of a Brexit deal before the October 31 deadline.

In a note published over the weekend, Co-Head of Global Foreign Exchange and Emerging Market Strategy Zach Pandl told investors that despite Friday’s substantial rally upon hopes of a Brexit deal, sterling likely has “further to run,” and retained the $1.30 price target initially set on October 4.

The currency fell by around 0.7% against the U.S. dollar on Monday morning as the U.K. and the European Union enter a critical week of negotiations, with both parties looking to hammer out a Brexit deal before the end of the month.

Hopes of a resolution were dampened over the weekend with several British media outlets reporting that EU negotiators did not believe talks had yet yielded significant progress.

A two-day EU summit commences on Thursday October 17, and if no deal is agreed by October 19, U.K. Prime Minister Boris Johnson is legally bound to request an extension, contrary to one of his key promises upon taking office.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: elliot smith
Keywords: news, cnbc, companies, bullish, sachs, zach, brexit, goldman, british, week, predicts, success, yielded, pound, sterling, stays, deal, 130, weekend


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Martha Stewart tells Jay Leno she’s faced a lot of doubt as an entrepreneur: Even my lawyer didn’t believe in me

On the latest episode of CNBC’s “Jay Leno’s Garage,” Stewart tells Leno that when her company was going public even her lawyer didn’t believe in her. Under her multimedia brand, she has launched several business entities including Martha Stewart Living and Wedding magazines, Martha Stewart cooking shows on PBS and a variety of branded home and lifestyle products. Martha Stewart is a successful entrepreneur, author and television host who founded the media company Martha Stewart Living Omnimedia


On the latest episode of CNBC’s “Jay Leno’s Garage,” Stewart tells Leno that when her company was going public even her lawyer didn’t believe in her. Under her multimedia brand, she has launched several business entities including Martha Stewart Living and Wedding magazines, Martha Stewart cooking shows on PBS and a variety of branded home and lifestyle products. Martha Stewart is a successful entrepreneur, author and television host who founded the media company Martha Stewart Living Omnimedia
Martha Stewart tells Jay Leno she’s faced a lot of doubt as an entrepreneur: Even my lawyer didn’t believe in me Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: courtney connley
Keywords: news, cnbc, companies, company, leno, entrepreneur, lawyer, public, faced, tells, business, success, stewart, lot, jay, shes, martha


Martha Stewart tells Jay Leno she's faced a lot of doubt as an entrepreneur: Even my lawyer didn't believe in me

On the latest episode of CNBC’s “Jay Leno’s Garage,” Stewart tells Leno that when her company was going public even her lawyer didn’t believe in her.

Under her multimedia brand, she has launched several business entities including Martha Stewart Living and Wedding magazines, Martha Stewart cooking shows on PBS and a variety of branded home and lifestyle products. Though she’s seen a lot of success in her career, Stewart says she faced early doubts about whether she could thrive as a female entrepreneur.

Martha Stewart is a successful entrepreneur, author and television host who founded the media company Martha Stewart Living Omnimedia in 1997.

She says because of her gender, “he didn’t believe that I could take a company that’s based on lifestyle to the public markets.”

Proving him wrong, Stewart went public with her company in 1999, just two years after it launched. At the time, her business was worth $2 billion, reports The Washington Post.

“I did it extremely successfully and he sent me an orchid and said ‘I am now a believer,'” she tells Leno.

Similar to many entrepreneurs, Stewart faced a lot of ups and downs in business. In 2015, she sold her multimedia brand to Sequential Brand Groups, a retail licensing company, for a reported $353 million.

As an entrepreneur who continues to push past gender stereotypes, the 78-year-old tells Leno that she doesn’t credit all of her success to hard work. In fact, she says, she credits most of her success to her curiosity to “try new things.”

“That’s where I get my entrepreneurial vision from,” she says. “And if you’re an entrepreneur you work hard because you are always trying to build something out of just an idea.”

Stewart emphasizes that though she isn’t “a rabid feminist,” she is aware that “there is still a prejudice against women” today. That’s why, she says, she takes it upon herself “to encourage other women to feel good about what they’re doing.”

CNBC’s “Jay Leno’s Garage″ airs Wednesdays at 10 p.m. ET.

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Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: courtney connley
Keywords: news, cnbc, companies, company, leno, entrepreneur, lawyer, public, faced, tells, business, success, stewart, lot, jay, shes, martha


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Jay Leno and Martha Stewart talk success, doubters and cars

Jay Leno and Martha Stewart talk success, doubters and cars53 Mins AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Jay Leno and Martha Stewart talk success, doubters, and cars. Watch Jay Leno’s Garage Wednesdays at 10 p.m. ET on CNBC.


Jay Leno and Martha Stewart talk success, doubters and cars53 Mins AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Jay Leno and Martha Stewart talk success, doubters, and cars. Watch Jay Leno’s Garage Wednesdays at 10 p.m. ET on CNBC.
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Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, leno, flash, enabled, success, talk, stewart, doubters, browser, cars, jay, martha


Jay Leno and Martha Stewart talk success, doubters and cars

Jay Leno and Martha Stewart talk success, doubters and cars

53 Mins Ago

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Jay Leno and Martha Stewart talk success, doubters, and cars. Watch Jay Leno’s Garage Wednesdays at 10 p.m. ET on CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, leno, flash, enabled, success, talk, stewart, doubters, browser, cars, jay, martha


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Suze Orman reveals what’s in her wallet

2 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Take a look inside Suze Orman’s wallet to learn her secrets of success.


2 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Take a look inside Suze Orman’s wallet to learn her secrets of success.
Suze Orman reveals what’s in her wallet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, suze, site, flash, view, orman, success, secrets, try, browser, reveals, enabled, whats, wallet


Suze Orman reveals what's in her wallet

2 Hours Ago

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

Take a look inside Suze Orman’s wallet to learn her secrets of success.


Company: cnbc, Activity: cnbc, Date: 2019-10-09
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Steve Jobs: ‘Technology is nothing’—here’s what he said it really takes to achieve great success

It’s been eight years since Steve Jobs passed away on Oct. 5, 2011, but his lessons about life, work and success still live on today. He taught them to focusAfter his return to Apple, Jobs would take his top employees on annual retreats. “Deciding what not to do is as important as deciding what to do,” Jobs told Isaacson. According to Isaacson, Jobs believed in the power of in-person conversations and always preferred face-to-face meetings. “There’s a temptation in our networked age to think tha


It’s been eight years since Steve Jobs passed away on Oct. 5, 2011, but his lessons about life, work and success still live on today. He taught them to focusAfter his return to Apple, Jobs would take his top employees on annual retreats. “Deciding what not to do is as important as deciding what to do,” Jobs told Isaacson. According to Isaacson, Jobs believed in the power of in-person conversations and always preferred face-to-face meetings. “There’s a temptation in our networked age to think tha
Steve Jobs: ‘Technology is nothing’—here’s what he said it really takes to achieve great success Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-05  Authors: marcel schwantes
Keywords: news, cnbc, companies, really, technology, achieve, tools, steve, things, important, jobs, faith, takes, isaacson, good, create, nothingheres, apple, told, success, great


Steve Jobs: 'Technology is nothing'—here's what he said it really takes to achieve great success

“But it’s not a faith in technology. It’s faith in people,” he said.

In a 1994, the Apple co-founder sat down for an interview with Rolling Stone . At the time, Jobs was at one of the lowest points of his career; he had long ago been booted from Apple, and the personal computer revolution seemed to be dimming. And yet, when asked if he still believed in the limitless potential of technology, Jobs answered yes.

It’s been eight years since Steve Jobs passed away on Oct. 5, 2011, but his lessons about life, work and success still live on today.

Jobs took this philosophy seriously. Years after he rejoined Apple in 1997, it was clear that he had become a far better leader. His goal, according to Walter Isaacson’s biography “Steve Jobs,” was to build an enduring company that prioritized people. Everything else — products and profits — while still important, would be secondary.

Put another way, Jobs believed that in order to achieve great success and create revolutionary changes in the world, we must learn to prioritize the intersection of technology and the humanities, because that’s how the best ideas emerge.

“Technology is nothing. What’s important is that you have faith in people, that they’re basically good and smart — and if you give them tools, they’ll do wonderful things with them,” he said. “Tools are just tools. They either work, or they don’t work.”

Technology is nothing. What’s important is that you have faith in people…

Jobs’ vision paid off: He had successfully shifted Apple’s focus back to making cutting-edge products, which resulted in a phase of unprecedented growth for the company.

Here’s how Jobs’ put his “faith in people” into practice:

1. He hired the right people and trusted them to perform

Jobs understood the cost of hiring the wrong people. He was heavily involved in major hiring decisions, and remained so even after taking medical leave.

Plenty of people have a breadth of knowledge that enables them to make good decisions under a variety of circumstances, but you can’t possibly be an expert at everything. The best leaders know what they don’t know, and they bring in experts to help them plan their next move.

As Jobs once said, “It doesn’t make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do.”

2. He delivered his demand for excellence in a inspiring way

To many, Jobs’ version of “having faith in people” might not be considered the norm. His occasionally abrasive style of leadership has been described as “terrorizing” and “extremely demanding.”

But, as proven by Apple’s success, it worked. “Jobs’ rudeness and roughness were accompanied by an ability to be inspirational,” Isaacson wrote in a Harvard Business Review article.

Indeed, Jobs knew how to “infuse Apple employees with an abiding passion to create groundbreaking products and a belief that they could accomplish what seemed impossible,” according to Isaacson.

The author recalled Jobs once telling him: “I’ve learned over the years that when you have really good people, you don’t have to baby them. By expecting them to do great things, you can get them to do great things.”

3. He taught them about humility

Some people might get a chuckle out of this one, considering Jobs was known to have a certain degree of arrogance, but he also had the capacity to admit when he was wrong and change his opinion entirely.

Guy Kawasaki, former chief evangelist at Apple who worked closely with the tech visionary, told CNBC Make It that one of the most important lessons he learned from Jobs “is that changing your mind, changing what you’re doing and reversing yourself at an extreme is a sign of intelligence.”

When Jobs first introduced the iPhone in 2007, for example, it was a closed system — no one outside of Apple could create an app for it. A year later, Jobs made a complete “180-degree reversal,” Kawasaki said. He opened the system to the public after realizing how much more the device could offer customers with apps written by anyone with a good idea.

In a world of stark dichotomies, it’s good to be fearless about changing sides or altering courses.

4. He taught them to focus

After his return to Apple, Jobs would take his top employees on annual retreats. On the last day of each retreat, Isaacson wrote, he’d stand in front of a whiteboard and ask everybody: “What are the 10 things we should be doing next?”

People would fight to get their suggestions on the list. “Jobs would write them down — and then cross off the ones he decreed dumb,” Isaacson continued. “After much jockeying, the group would come up with a list of 10. Then, Jobs would slash seven of them and announce, ‘We can only do three.'”

The theatrics of the activity were meant to teach his employees about focus. “Deciding what not to do is as important as deciding what to do,” Jobs told Isaacson. “That’s true for companies, and it’s true for products.”

5. He engaged face-to-face

If Jobs were alive today, it’d be unlikely for anyone to get a Slack reply from him. According to Isaacson, Jobs believed in the power of in-person conversations and always preferred face-to-face meetings.

“There’s a temptation in our networked age to think that ideas can be developed by email and iChat,” he told Isaacson. “That’s crazy. Creativity comes from spontaneous meetings, from random discussions.”

Even at Pixar, Jobs made sure the building was designed to get people out of their offices and interact with others. The front doors and main stairs and corridors all led to the atrium, which housed essentials like a fitness center, cafe, employee mailboxes and the only set of bathrooms.

It was meant to be the heart of the headquarters, the place where people ran into each other, talked and came up with the most inventive ideas.

Marcel Schwantes is a speaker, executive coach and workplace strategist. As a leadership coach, he addresses the elements required to create human-centered workplaces that result in high-performing cultures. Marcel is also the host of the “Leadership from the Core” podcast.

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Company: cnbc, Activity: cnbc, Date: 2019-10-05  Authors: marcel schwantes
Keywords: news, cnbc, companies, really, technology, achieve, tools, steve, things, important, jobs, faith, takes, isaacson, good, create, nothingheres, apple, told, success, great


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This self-made millionaire says the key to his success is eating only fruit until noon

1 thing that has changed my life — and I know this sounds crazy — but I only eat fruit until noon every day,” Itzler tells CNBC Make It. Itzler says the book challenges the reader to only eat fruit until noon for 10 days and then on day 11 go back to your regular breakfast. There has been controversy over Diamond’s Fit for Life diet, especially around the idea of food combining and eating food on an empty stomach. “I would never recommend that my patients eat only fruit until noon. Apple co-foun


1 thing that has changed my life — and I know this sounds crazy — but I only eat fruit until noon every day,” Itzler tells CNBC Make It. Itzler says the book challenges the reader to only eat fruit until noon for 10 days and then on day 11 go back to your regular breakfast. There has been controversy over Diamond’s Fit for Life diet, especially around the idea of food combining and eating food on an empty stomach. “I would never recommend that my patients eat only fruit until noon. Apple co-foun
This self-made millionaire says the key to his success is eating only fruit until noon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-05  Authors: jade scipioni
Keywords: news, cnbc, companies, eat, millionaire, food, jobs, key, life, diet, book, eating, fruit, itzler, success, noon, selfmade


This self-made millionaire says the key to his success is eating only fruit until noon

In 2008, he married Spanx founder and billionaire Sara Blakely and by 2015, the couple became co-owners of the NBA’s Atlanta Hawks. They also have four children together.

In his 30s, he became an entrepreneur and helped build Marquis Jets , one of the largest private jet leasing companies in the world, which he later sold to a unit of Warren Buffett’s Berkshire Hathaway for an undisclosed amount. Itzler was also a partner in Zico Coconut Water, which was acquired by Coca-Cola in 2013 for an undisclosed sum.

When he was in his 20s, he was a successful rapper, who appeared frequently on MTV. (His first single, “Shake It Like A White Girl,” reached the Billboard Hot 100 chart in 1991.)

Sara Blakely, founder of Spanx, and her husband Jesse Itzler attend the Allen & Company Sun Valley Conference on July 9, 2015 in Sun Valley, Idaho.

But Itzler says none of those successes would have happened without the strict diet and wellness routine that he has been doing for 30 years.

“For me, the No. 1 thing that has changed my life — and I know this sounds crazy — but I only eat fruit until noon every day,” Itzler tells CNBC Make It.

Itzler says when he was 21, broke and living on his friends’ couches, he read a book called “Fit for Life” by Harvey Diamond.

“I was about to run my first marathon and I wasn’t a runner, so I looking for anything that would give me an edge,” he says.

Itzler says the book challenges the reader to only eat fruit until noon for 10 days and then on day 11 go back to your regular breakfast.

“So I did it, and on day 11, after 10 days of fruit, I went back to my regular breakfast, which was things like oatmeal, eggs, bagel and bacon and I felt terrible and that was it. I never went back,” Itzler says.

In “Fit for Life,” which was first published in 1985 and re-released in 2010, Diamond promotes a diet based on raw fruits and vegetables, with fruits to be only consumed on an empty stomach in the morning. The book also says animal protein should not be combined with complex carbohydrates such as beans or whole grains.

There has been controversy over Diamond’s Fit for Life diet, especially around the idea of food combining and eating food on an empty stomach. In a study published in the April 2000 issue of the International Journal of Obesity, researchers at the University of Geneva in Switzerland found that having a low-calorie diet with a mix of food is much more effective than eating foods in certain combinations.

And Erin FitzGerald, RD and assistant clinical nutrition manager at Lenox Hill Hospital in New York City tells CNBC Make It that while it’s generally not harmful to only eat fruit until noon, she doesn’t recommend it.

“I would never recommend that my patients eat only fruit until noon. If anything, we need to ‘break’ our overnight fast with protein and/or healthy fat. Fruit can be a healthy part of our mornings, but eating a lot of fruit in the morning can potentially harm some individuals — in particular, those who have diabetes or who are at risk for diabetes,” FitzGerald says.

Still, Itzler says for him, when he eats only fruit until noon he experiences higher energy levels and thinks more clearly, because according to him it gives his digestive system a break. But there is no scientific research to back up what Itlzer says.

After 12 p.m, Itzler says he eats super clean meals that are 80% raw. But he does treat himself to an occasional pizza or sushi roll while eating with his wife and four kids.

Itzler isn’t the only entrepreneur, who has experimented with fruit-related diet.

Apple co-founder Steve Jobs’ was at times a frutarian, eating mostly fruit as well as some nuts, seeds and grains. Jobs’ was inspired to do a fruit-based diet after reading the book “Mucusless Diet Healing System” by Arnold Ehret in college, according to Walter Isaacson’s 2011 biography “Steve Jobs.”


Company: cnbc, Activity: cnbc, Date: 2019-10-05  Authors: jade scipioni
Keywords: news, cnbc, companies, eat, millionaire, food, jobs, key, life, diet, book, eating, fruit, itzler, success, noon, selfmade


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Meatballs and DIY bookcases: The psychology behind Ikea’s iconic success

Some of Ikea’s furniture is made from wood, some is made from particleboard (recycled wood chips fused together), keeping production more affordable. And the trademark simple style of the furniture Ikea sells is not just because it’s a Scandinavian aesthetic. And “most of Ikea’s furniture is available in black, white, or unfinished wood. “I’m not so sure there is enough sensation for audio” in an Ikea store, he says. “We’ve always called the meatballs ‘the best sofa-seller,'” Gerd Diewald, the f


Some of Ikea’s furniture is made from wood, some is made from particleboard (recycled wood chips fused together), keeping production more affordable. And the trademark simple style of the furniture Ikea sells is not just because it’s a Scandinavian aesthetic. And “most of Ikea’s furniture is available in black, white, or unfinished wood. “I’m not so sure there is enough sensation for audio” in an Ikea store, he says. “We’ve always called the meatballs ‘the best sofa-seller,'” Gerd Diewald, the f
Meatballs and DIY bookcases: The psychology behind Ikea’s iconic success Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-05  Authors: catherine clifford
Keywords: news, cnbc, companies, ikeas, brain, customers, food, iconic, success, bookcases, furniture, store, design, meatballs, ikea, diy, psychology, retail, pradeep


Meatballs and DIY bookcases: The psychology behind Ikea's iconic success

The furniture is cheap, but it looks good

At the heart of Ikea’s success is value: You know what you’re going to get when you shop at Ikea, and it’s going to be affordable. In fact, price is so important to Ikea’s strategy that the company first decides on the price of a piece of furniture and then reverse engineers the construction, the company says. Ikea has a “democratic design approach,” according to Antonella Pucarelli, the chief commercial officer of Ikea retail U.S., which means that it “deliver[s] form, function and quality products at a low price. Even though our products are affordable, we don’t compromise on quality,” she says. (Ikea has had high profile recalls of millions of chests and dressers after several tipped over, killing children. In response, Ikea admitted the chests and dressers could be dangerous and offered free kits to anchor the chests and dressers to the wall, as well as refunds.) Some of Ikea’s furniture is made from wood, some is made from particleboard (recycled wood chips fused together), keeping production more affordable. Ikea furniture is shipped and sold in flat-packs, which makes transporting it cheaper, and customers put it together themselves (or pay for someone to do it for them), keeping labor costs down. And the trademark simple style of the furniture Ikea sells is not just because it’s a Scandinavian aesthetic. It’s easier and cheaper to make affordable versions of such furniture look good. “Ikea’s aesthetic is pared down and minimal, which is not an accident. Uncomplicated forms with very little applied decoration are easier to manufacture. More can be produced in a shorter amount of time, increasing efficiency and decreasing production costs,” Ashlie Broderic, interior designer for Broderic Design, tells CNBC Make It. “The Malm bed is an excellent example of simple rectangular shapes combined to create a very chic bed.” And “most of Ikea’s furniture is available in black, white, or unfinished wood. By producing more items in fewer finishes, Ikea takes advantage of economy of scale,” she says. All this makes Ikea’s “aesthetic per dollar” ratio very high, says neuromarketer and author of “The Buying Brain” Dr. A. K. Pradeep. Ikea’s affordable style is its “category-busting-metric,” or what makes it stand out from all the other brands in that space, he says. The brain looks for a single defining characteristic to differentiate among brands, products and services, and if that’s not easily identified, the brain falls back to price, says Pradeep, who has worked with companies including Coca-Cola, Procter & Gamble, Pepsi, Subway and Mondelez in the neuromarketing space.

The store layout turns retail into retail therapy

Ikea’s stores also appeal to the subconscious mind, which is the primary driver of decision-making, Pradeep tells CNBC Make It. For one thing, the layout of Ikea’s warehouse stores’ showroom floors are generally familiar to shoppers — furniture, pillows and other home goods are staged in mock rooms. “Furniture is set up in its natural environment,” Pradeep says, which your subconscious brain appreciates. “Every single thing there is contextually in position. The brain perceives it, understands its inherent value, and therefore desires it.” But within that context, there are always new and unexpected items to discover along the way. Both of those things are positive triggers in the brain. “A great store will give you the sense of comfort and familiarity and will also give you the pleasure of discovery,” says Pradeep. “That is when retail becomes retail therapy.” Ikea’s vast amounts of white also appeal to the subconscious, a neuromarketing technique tech behemoth Apple also uses liberally. “[I]f Apple was to design a closet it would probably look like an Ikea closet,” Pradeep says. “The brain perceives everything through context. The notion of that white there symbolizes clutter-free, pure, simple, transparent — without saying all those words.” In addition to the smart neuro design, Ikea’s layout nudges customers to spend more money. Ikea sets up the store along a directed walking path that takes customers in one direction through nearly its entire inventory (provided you don’t take short-cuts, which are also available in some places. “We are very conscious of the value of people’s time,” Ikea’s Pucarelli tells CNBC Make It). There are arrows pointing the way on the floor, and signs with a corresponding store map to reinforce the path. “Part of their strategy is to take you past everything,” Alan Penn, a University College London professor who studied how shoppers navigate and buy at Ikea, told the National Post in 2012. “They get you to buy stuff you really hadn’t intended on. And that, I think, is quite a trick.” Further, the guided pathway gets customers into a passive mentality in which they are more prone to suggestion, says Penn. “You follow the yellow brick road. You hand over control of where you are and where you go next. That’s quite psychologically disruptive, and I think that’s the first step toward actually buying.” And then when you are paying for your Ikea finds, there is the smell of sweets baking near checkout. “There’s a part of the brain that fires every time you pay, right? And so by having the scent of baking, of warmth, of sugar — in particular that takes the stress out — they get down the stress of payment,” Pradeep says. One area Ikea could improve its neuro design is audio, says Pradeep. “I’m not so sure there is enough sensation for audio” in an Ikea store, he says. The sounds you hear could be more stimulating, Pradeep says.

There’s cheap, yummy food

Ikea’s cheap food — both in its cafe and at checkout — is as iconic as its furniture and is also a draw for customers. Globally, Ikea sells more than 1 billion Swedish meatballs each year, Pucarelli says. Meatballs and gravy, vegetables and mashed potatoes cost $5.99 at the cafe, as do salmon meatballs with mashed potatoes and vegetables. A blackberry summer salad with blue cheese and walnuts costs $3.99, and three-layer chocolate conspiracy cake is $2.99. Kids meals are $2.99. And members of Ikea’s loyalty program, Ikea Family, get free coffee every visit. The in-store cafe was the brainchild of Ikea’s founder, Ingvar Kamprad, who started the company in 1943 as a mail-order business selling pencils, postcards, and other merchandise in the south of Sweden. (The letters that spell out “Ikea” are the first letters of the founder’s name plus Elmtaryd and Agunnaryd.) “Ingvar was known for saying, ‘You can’t do business with someone on an empty stomach!'” Pucarelli says. Reviews of the food are mixed, but generally positive, according to Yelp. Dimitrios D., who lives in New York City, visited an Ikea in 2018 called the food “surprisingly decent.” It “falls somewhere between cafeteria food and actual restaurant quality (and leaning much more toward cafeteria level). Nonetheless, my salmon fillet platter cost me $6.99,” he said. Karen Y. says that breakfast at Ikea is a family occasion: “My family loves going there for breakfast & then roam around. Is the breakfast great? Nope… but it’s dirt cheap!” she said in a 2017 review. Getting people to eat is also savvy from a neuromarketing perspective, Pradeep tells CNBC Make It. A retail store “is the worst environment for the human brain simply because you’re processing so much information: 20 to 25% of your oxygen intake goes to your brain — very hungry computer, right? So when it computes it consumes so much energy, [it] gets tired,” Pradeep says. “So the smart thing to do would be to have food in the middle of your shopping experience so you could recharge, refuel, go shop some more. Ikea has done that.” “We’ve always called the meatballs ‘the best sofa-seller,'” Gerd Diewald, the former head of Ikea’s food operations in the U.S., told Fast Company in 2017. “Because it’s hard to do business with hungry customers. When you feed them, they stay longer, they can talk about their [potential] purchases, and they make a decision without leaving the store. That was the thinking right at the beginning.”

Do-it-yourself assembly gets customers committed

If everyone has an Ikea story, many of them include a torturous experience putting together a piece of furniture (with its famous pictogram instructions and Allen wrench). With Ikea products, they are “so minimalist and beautifully designed — but my god there are 10 billion parts I got to put together to get the minimalistic design,” Pradeep tells CNBC Make It. For Ikea, that could be a win: You are more likely to feel connected to your purchase if you assemble it. Daniel Mochon, a researcher and associate professor of marketing at Tulane University’s business school, calls this the “Ikea effect.” “We come to overvalue the things that we have created ourselves,” Mochon told Shankar Vedantam, the host of NPR’s podcast “Hidden Brain.” “Imagine that you built a table. Maybe it came out a little bit crooked. Probably your wife or your neighbor would see it for what it is, you know, probably a shoddy piece of workmanship. But to you, that table might seem really great because you’re the one who created it. It is the fruit of your labor, and that is really the idea behind the ‘Ikea effect.'” Of course, feels the need to struggle, and to that point, Ikeas acquired TaskRabbit in Sept., 2017 for an undisclosed sum.

Ikea faces the future


Company: cnbc, Activity: cnbc, Date: 2019-10-05  Authors: catherine clifford
Keywords: news, cnbc, companies, ikeas, brain, customers, food, iconic, success, bookcases, furniture, store, design, meatballs, ikea, diy, psychology, retail, pradeep


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How this $1,000/hour hypnotist helps CEOs find success

4 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. CEOs, politicians and celebrities go to hypnotist Kimberly Friedmutter when they need a boost in their careers. Now you can test her performance-enhancing exercises too.


4 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. CEOs, politicians and celebrities go to hypnotist Kimberly Friedmutter when they need a boost in their careers. Now you can test her performance-enhancing exercises too.
How this $1,000/hour hypnotist helps CEOs find success Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-04
Keywords: news, cnbc, companies, enabled, flash, browser, helps, site, politicians, view, 1000hour, try, plugin, success, need, test, ceos, hypnotist


How this $1,000/hour hypnotist helps CEOs find success

4 Hours Ago

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

CEOs, politicians and celebrities go to hypnotist Kimberly Friedmutter when they need a boost in their careers. Now you can test her performance-enhancing exercises too.


Company: cnbc, Activity: cnbc, Date: 2019-10-04
Keywords: news, cnbc, companies, enabled, flash, browser, helps, site, politicians, view, 1000hour, try, plugin, success, need, test, ceos, hypnotist


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Five groundbreaking Latino CEOs share their advice for success

Berto Guerra Jr., CEO & Chairman of Avanzar Interior Technologies stands on the floor of his San Antonio manufacturing plant”¡Si, se puede!” Three words launched five Latino CEOs in San Antonio on their joint venture to success. Frank Herrera, CEO of Hero Logistics | Provides in-house logistics. Grow sought out their best advice for young Latino entrepreneurs searching for their own route to success. “I think all the Compadres come from underserved communities and somehow, somebody gave us an op


Berto Guerra Jr., CEO & Chairman of Avanzar Interior Technologies stands on the floor of his San Antonio manufacturing plant”¡Si, se puede!” Three words launched five Latino CEOs in San Antonio on their joint venture to success. Frank Herrera, CEO of Hero Logistics | Provides in-house logistics. Grow sought out their best advice for young Latino entrepreneurs searching for their own route to success. “I think all the Compadres come from underserved communities and somehow, somebody gave us an op
Five groundbreaking Latino CEOs share their advice for success Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-03  Authors: brandon gomez
Keywords: news, cnbc, companies, compadres, share, latinos, san, groundbreaking, truck, advice, herrera, latino, guerra, santana, chairman, success, ceos, ceo


Five groundbreaking Latino CEOs share their advice for success

Berto Guerra Jr., CEO & Chairman of Avanzar Interior Technologies stands on the floor of his San Antonio manufacturing plant

“¡Si, se puede!” Yes, you can. Three words launched five Latino CEOs in San Antonio on their joint venture to success. At 18% of the U.S. population, Latinos are responsible for 82% of the growth in the U.S. labor force since the financial crisis. That’s according to the Latino Donor Collective U.S. Latino GDP Report, prepared by researchers at the California Lutheran University Center for Economic Research & Forecasting and UCLA Center for the Study of Latino Health & Culture. Yet how are Latinos — a group growing six times faster than non-Latino populations — preparing themselves to assume executive leadership roles?

Meet the ‘Five Compadres’

Toyota’s Five Compadres, Tier 1 suppliers for its San Antonio pickup truck production plant. From left: Frank Herrera, Berto Guerra, Rosa Santana, Fernando Reyes and Max Navarro.

Frank Herrera, CEO of Hero Logistics | Provides in-house logistics. Berto Guerra Jr., chairman and CEO of Avanzar Interior Technologies | Manufactures vehicle seating. Rosa Santana, owner and CEO of Forma Automotive, became Toyota’s first-ever Hispanic woman-owned direct Tier 1 supplier | Provides fully assembled truck beds for Tacoma trucks. Fernando Reyes, founder of Reyes Automotive Group | Produces injection molding and carpeting for the pickup trucks. Max Navarro, founder and chairman of Vutex | Assembles parts kits for conveyance to the assembly line. The group is made up of a lawyer, a STEM professional, a staffing expert and two multiventure entrepreneurs, all established Latino business leaders from diverse industries. And while the five had no automotive manufacturing experience, Toyota still approached them to become the company’s first Latino manufacturers to provide products directly to the company with no middlemen — otherwise known as Tier 1 suppliers. Toyota decided in 2003 to purchase 2,600 acres of ranch land in predominantly Latino (64%) San Antonio, and build its new Tundra and Tacoma pickup truck production plant. Among the company’s first tasks was to identify and train local businessmen. Today, the Compadres’ businesses assemble various auto components, including wheels, tires and fully constructed truck beds to vehicle interiors, including carpeting and plastics. CNBC Invest in You: Ready. Set. Grow sought out their best advice for young Latino entrepreneurs searching for their own route to success.

Max Navarro: No experience? No problem!

The jump into manufacturing was not easy. “A lot of us had business background, but none of us knew how to build a truck,” said Navarro, founder and chairman of Vutex, the first San Antonio-based Hispanic-owned scientific research firm. “But we all brought together some kind of common denominator that helped each other grow.” Navarro said that lack of experience often leads to a self-doubting, “can’t do” mentality, yet for him, no experience is no problem. Toyota’s Texas plant, with the help of the Compadres’ companies, now produces more than 200,000 pickup trucks annually. “Ultimately, we answered that $64,000 question, ‘Are people going to be able to manufacture trucks in San Antonio?'” said Navarro. “There’s no doubt in my mind that question has been answered. Yes.”

Berto Guerra Jr: Surround yourself with smarter people

In the beginning, the Compadres were paired with seasoned Tier 1 Toyota suppliers to form joint ventures. They traveled all over the U.S. and to Japan to learn the businesses, the suppliers’ processes and the “Toyota Way.” “One piece of advice my father always gave me was ‘Don’t be afraid to surround yourself with people who are smarter than you,'” said Guerra, chairman and CEO of Avanzar Interior Technologies. Guerra grew up in San Antonio with his family and lived in a small room behind his father’s barbershop. His father gave Guerra his first job — greeting customers as they walked in and offering them a shoe-shine in return for a few cents. Humility was a lesson Guerra learned from an early age. “There’s no shame in acknowledging when you need help,” said Guerra. “Especially when the help of others guarantees your long-term success.”

Rosa Santana: Believe in yourself and lift up others

Rosa Santana, Forma Automotive CEO & Santana Group Founder Santana Group

The four original Compadres became five in 2014 when Rosa Santana, the first “comadre,” joined the team a decade after the Texas plant opened. With her, she brought more than three decades of staffing industry experience and previously provided human-resource services to her now-fellow Compadres. “I think all the Compadres come from underserved communities and somehow, somebody gave us an opportunity,” said Santana, CEO of Forma Automotive. Santana now serves as a direct provider of fully assembled truck beds. “Sometimes I think Latinos, especially Latina women, think we can’t do as well, or we are not equipped to be leaders,” she said. “We have to do everything to empower ourselves and empower our people.”

Frank Herrera: The Latino agenda is the U.S. agenda

“We must understand that we are advancing not only the Latino cause, but equally as important, the U.S. cause,” said Herrera, owner and president of Herrera Law Firm and chairman of Hero Assemblers and Hero logistics. An estimated 55 million Latinos live in the U.S., according to the U.S. Census Bureau. That number represents 18% of the country’s population, and officially makes Latinos America’s largest ethnic or racial minority. Herrera said Latinos need to leverage their role in the workforce by understanding themselves to be a key driver of future U.S. economic growth. “If the United States 100 years from now will be predominantly Latino, then we have to prepare ourselves to assume those leadership roles.”

Fernando Reyes: Remember, “si, se puede”


Company: cnbc, Activity: cnbc, Date: 2019-10-03  Authors: brandon gomez
Keywords: news, cnbc, companies, compadres, share, latinos, san, groundbreaking, truck, advice, herrera, latino, guerra, santana, chairman, success, ceos, ceo


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