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Creating Generational Legacies

Thursday, October 5, 2023

The power of effective , transparent communication



What was one of the key success factors for making Alexander the Great - great? 


We have just spent the day in Thessaloniki (2nd biggest city in Greece )- visiting a tomb of his family! 


Communication - in my view was key!!


Sun Tzu's "The Art of War" shares the importance of effective good communication . 


He emphasises the need of being given explicit instructions -  and following them. 


If orders are unclear, it is the leaders  problem and the soldiers  are at blame if they are given explicit instructions and still fail to carry them out. 


This  concept has s not only relevant on the battlefield - but also on the sports field, government , at school , at home and especially   in business 


Leaders need to make sure their teams are on the same page by communicating their vision, mission, strategies , goals , tasks and expectations.


Effective Feedback


When goals aren't accomplished, leaders need  to see if their instructions were understood and that the team understands the game plan and their role clearly! The use of feedback mechanisms to learn what worked or didn’t - 

Where was the breakdown? Was it because of ambiguous instructions or lack of execution?


Reviewing past games analysis can reveal what was good or bad - what worked or didn’t— what could be improved - was failure as a result of strategy muddled tactics or execution  or both? 


Effective open communication  promotes an atmosphere of trust a key quality and value vital to the success of any group! 


Allen Pathmarajah shares one of the most important tools in communication - which is the

L in leadership!


Listen - listen and silent - have the same letters, he says !


Once you know what works -  Practice , practice practice is essential  until processes  become second nature, leaving little room for error! (Read Malcolm Gladwell the tipping point and blink ) 


Identify what can be improved - pivot , iterate , practice until perfect 


Ways to communicate 


Through regular forums town halls , team meetings, one-on-one chats, digital channels.


Continuity is key!!


Whether you are at home , in business, government or the battlefield - Conflicts can be greatly reduced if clear standards for tasks, responsibilities, and behaviour are established with clear ways to communicate them ! 


When people don't play by the rules, or don’t follow the game plan - having an open conversation about what went wrong can help bring everyone closer together and improve future compliance.


The power  of effective , transparent communication is key 

 

Of course - Learning and effective training is a key part of the communication process - (www.bsilearning.com.au)


Leaders in any field can benefit from internalising and using Sun Tzu's concepts through building stronger, more cohesive, and more accountable teams.

Wednesday, September 20, 2023

The gap between Strategy and a execution cannot be underestimated




A picture is a thousand words. Why is it that this one echoes so strongly when we see it?



DEFINING A STRATEGY THAT WILL ACTUALLY WORK IS HARD:


We have just spent a year getting our entire team engaged in determining our 5 year strategy .


It’s been a slow and often painful process getting ideas from all stakeholders, meeting, arguing, planning, revising, getting input, changing , taking into account current events , changing again…. 


I believe we have come up with a strategy that the entire team is excited about - and is keen to execute really well.


This article below by Jakob Bovin has really hit a chord


 - the importance of alignment and buying cannot be overestimated! 



The gap between strategy and execution is very real, and the challenge of going from a great strategy to great execution of it, is often spectacularly underestimated.

 

Here are some of the reasons why:


The pyramid of ignorance (Sidney Yoshida) suggests that only 4% of an organisations front line problems are understood by top management. 

 

Therein lies the challenge of understanding the difficulties a new strategy may face when different parts of an organisation try to adopt it. 

 

To find true alignment, strategy definition must be dynamic and involve a broad range of stakeholders at all levels to have a chance to be successful.

 

If we don't make that effort, the strategy will eventually face too much resistance.

 

 

IT MUST BE "THEIR" STRATEGY, NOT "YOURS"

 

If a strategy comes from the top in a form of a waterfall of slides (I've seen plenty of examples of 200 slide presentations in my career) there's a good chance it will be forgotten pretty quickly.

 

It's much more important to set a clear direction for the organisation, then let every part of it say how they will contribute to taking the organisation there.

 

By taking this approach, it becomes everyone's strategy not just that of a select few privileged people at the top.

 

 

WE UNDERESTIMATE THE POWER OF EMOTIONS

 

A leader of a multi billion $ business recently said to me, "You know Jakob, we often underestimate the emotional attachment people have to the way things are done today".

 

It struck a chord.

 

We don't like change because there's comfort in how we do things today. Change doesn't just affect what we do, but also our working relationships with others which can have a profound impact on every individual.

 

This will create natural resistance to change. People will feel some degree of "loss" when embarking on a new strategy - as strange as that may sound.

 

Ultimately success will depend on individuals having the opportunity to connect to the strategy and understand how they will contribute to it at their level & create success for the organisation.

 

 

WE'RE OFTEN ASSESSING STRATEGY ADOPTION BY LOOKING IN THE REAR-VIEW MIRROR

 

Last but not least, lack of visibility on whether or not we are moving in the direction we want is often the achilles heel when it comes to going from strategy to execution to results.

 

If we focus on "lag metrics" (i.e. looking at what has already happened), we're too late.

 

Clear real-time visibility of progress is critical to be able to course-correct and ensure execution happens to deliver the results we want. Unless we have a common system and methodology to do so, it's very hard to accomplish.

 


The above isn't an exhaustive view & I'm keen to hear your take on the strategy to execution challenge!

 

 

#strategy #execution #results

Monte Pedersen Wayne Nelsen Jeroen Kraaijenbrink


https://www.linkedin.com/posts/jakobbovin_strategy-execution-results-activity-7109755488396832769-OD_V?utm_source=share&utm_medium=member_ios



Monday, September 11, 2023

Aeroplane or phone



I saw this at LaX star alliance lounge - and it stuck with me  
The Wright  brother’s created the single l greatest cultural  force since the invention of writing .. The aeroplane became the first World Wide Web. Bringing people languages and cultures and values  closer  together 

And then there was the phone!!

Saturday, September 9, 2023

Partnership between BsI Learning and Cyber Peace Foundation




The countdown has begun for our highly anticipated transnational program launch in collaboration with our esteemed partners, BSI Learning. Join us on September 21, 2023, the International Day of Peace, in the vibrant city of New Delhi, India. 🇮🇳🇦🇺

This grand launch will be graced by the presence of top tech industry leaders, distinguished Indian government representatives, and officials from the Australian Trade and Investment Commission. Together, we will embark on a journey to deliver globally recognised cybersecurity education in India.

Stay tuned for updates as we prepare to make history in the world of #cybersecurity.

Kala Philip Scott Wesley Vipul Rastogi Simon Dewar Arushi Gaur Ivan Kaye Scott Henderson Dylan Chan Craig Saphin Tony Surtees Michael Lynch

#CyberPeace☮️  #CyberSecurityProgram #CyberEducation #India #Australia #GlobalSynergy #GlobalPartnerships #EducationPrograms #CyberSecurityCourse #G20India #InternationalDayofPeace #G20India2023 #G20Bharat #G20Summit #G20SummitDelhi 

Tuesday, September 5, 2023

Another Blockchain cyber heist - Stake , the billion dollar heist and cybercrime




Stake.com -  co-founded by Young Rich Lister Ed Craven in 2017 and one of the world’s largest online casinos - has been hacked with more  than $US40 million taken from the exchange’s online wallets. 


The theft was discovered in the early hours of Tuesday morning, when Cyvers, a blockchain security platform, detected $US16 million of “suspicious transactions”. Another blockchain analyst, ZACHXBT, confirmed the number plus an additional $US25.6 million.


Last year, more than $3.7 billion worth of crypto was lost to various hacks and exploits, (coindesk) 


What is Stake?


Stake is an Australian casino and sportsbook that allows users to deposit and play with cryptocurrencies. It made $2.6 billion in revenue in 2022, according to a Financial Times report.



Security Measures: 


Stake.com had a slew of security measures in place, from stringent password policies and 2FA to frequent security audits and encryption technologies. They even advised users on game choices to minimize risks.


What is at Stake? What does this mean to risk and vulnerability 

The hack reveals a sobering truth: even the most secure platforms are vulnerable to sophisticated cyber-attacks. It’s a wake-up call for not only the gambling industry - but online industry such as banks to beef up security protocols and for users to tread carefully.


No platform is entirely safe. It’s crucial for users and platforms alike to up their security game.


Other heists 

Blockchain security company CertiK estimates that approximately $1.3 billion worth of cryptocurrency was lost due to hacks and scams in 2021 alone, a 2,500 percent increase from 2020. 


https://www.theregister.com/AMP/2022/09/20/wintermute_hacked_160m/



Multichain 

Blockchain bridge Multichain has suspended operations and is missing up to USD120 million after seeing “unusual activity” coinciding with a major cyber heist . Before it paused transactions, it was holding a reported USD1.26 billion in crypto currencies.


https://australiancybersecuritymagazine.com.au/multichain-pauses-operations-after-usd120-million-cyber-heist/



 Several cybersecurity firms sounded the alarm on July 6 about an attack after observing abnormally high numbers of tokens transferring from Multichain’s bridging networks to unidentified addresses.


Multichain (formerly known as AnySwap) describes itself as an “enterprise blockchain that actually works,” allows clients to connect blockchains such as Bitcoin and Ethereum via a cross chain bridge.


Last week, hackers stole stablecoins, including Tether, Dai, and USDC, as well as tokens like Chainlink, wrapped Bitcoin, and wrapped Ether 


The funds were moved into six different addresses.


CyVers says Multichain is still uncertain about the exact nature of the incident, adding that in dollar terms, it is the second biggest cyberattack of 2023 to date.


With its CEO (and other senior team members) missing and delayed transactions before the attack, there is intense speculation that Multichain will not resume business.


Cybercrime is prevalent

It’s not only Crypto that is being hacked …. 
Banks are vulnerable 


The Billion Dollar Heist 

Great advertising for latest documentary by

Misha Glenny and director Daniel Gordon - Billion Dollar Heist - 


The doco  illustrates how sophisticated and prevalent cybercrime has become in recent years.


The story is about  how in 2016 , a group of security hackers managed to steal $81 million from the Bangladesh Bank while also accidentally letting a typo keep them from getting away with much more .


The hackers issued 35 fraudulent requests to illegally transfer close to US $1 billion from the Federal Reserve Bank of New York account belonging to the Bangladesh Bank to themselves.


Cybersecurity experts across the world on such high alert.


In 2017, the G20 warned that cyberattacks could “undermine the security and confidence and endanger financial stability.”


Is  this a threat to humanity at large as pandemics, weapons of mass destruction, and climate change ? 



https://study.uq.edu.au/stories/how-do-you-stop-cyber-bank-heist


If cyber security isn't done well, it’s as easy as walking into an unlocked vault. That’s where cyber security experts step in.


According to VMware’s fifth annual Modern Bank Heists Report, 63% of financial institutions admitted experiencing an increase in destructive attacks, with cybercriminals leveraging this method as a means to burn evidence as part of counter incident response. Additionally, 74% experienced at least one ransomware attack over the past year, with 63% paying the ransom.


“What exactly are these cybercrime cartels looking for? We’re witnessing an evolution from a bank heist to economic espionage, where cybercriminals target corporate information or strategies that can affect the share price of a company as soon as it becomes public,” wrote Tom Kellermann, head of the cybersecurity strategy at VMware in a blog post.


How can cybercrime be stopped?

How can you mitigate the risk?


Kala Philip of BSILearning says that it starts with education . 

Every professional and employee should be aware of the risks and strategies on how cybercrime can be mitigated . 

Thursday, August 31, 2023

Bridgit cleans up at the Ashurst fintech awards 2023




Nick Jacobs and Aaron Bassin Bridgit last week took home the win for:

🚀 Best Innovation in Lending

🚀 Best FinTech growth Story


Huge shout out to Glen Frost and the Bridgit team, customers, partners and shareholders,


The pain 💥

A person buying their next home needs to “bridge” the money needed between buying a new home and selling an existing home.


The pain killer - Bridgit 💊

Bridgit allow borrowers to use the equity from their existing home to buy their next home –

with faster, fairer, and more simple property finance solutions with no double mortgages, no temporary living costs and no missed opportunities.


Technology 

With its technology , innovative credit and risk modelling , in-built algorithms and automated processes, Bridgit is able to offer a24-hour approval. 

Customer focussed

Bridgit built its own CRM and customer portal, as well as an online application which can be completed in 5 minutes: meaning a smooth experience for customers. 

Investors 


The company raised $13.2 million in equity and secured $100 million in venture debt funding in 2021 and secured an additional $50 million in funding from Silicon Valley-based fund Partners for Growth (PFG) this year. 


Another win for OIF ventures! 


What the industry is saying  

Finder home loans editor Richard Whitten enthused 


“Bridging loans are a neglected segment of the Australian credit landscape and Bridgit has created a new product and platform that serves user needs while adding elements of tech-driven convenience that feel genuinely new for this industry.”


Aaron Bassin shared with Business news Australia last year 


Since launching its services the average loan written by Bridgit has been $1 million. The size of Bridgit’s average loan is larger than an average mortgage because the debt straddles both properties in the buy and sell stage.

Bassin says after a heady year of growth, lending volumes are continuing to rise for the company.


Another OIF win! 

http://bsivc.blogspot.com/2023/07/oif-team-members-david-shein-jerry.html?m=1



Tuesday, August 29, 2023

Kiki raises $6m providing a solution for shared housing



Kiki founded by New Zealander Toby Thomas-Smith, Jack Montgomerie, Alexander Nicholson has raised a  $6M seed round to launch in New York! 


What's Kiki.nyc? A refreshing take on subletting — focussed on the people, not the property. 🏠


 It’s not just a listing app; it’s a community led marketplace. 


Kiki leverages social ties and similarities to overcome the pain of leasing out your own room. Unlocking otherwise empty space and bringing money back to locals. 🌏 - says the team at Blackbird ! 


The Investors 

Blackbird led the round with $4.5m joining tech giants, like ex-Airbnb’s Harry Uffindell, Facebook Marketplace founder Bowen Pan, Michelle Battersby, Sunroom founder and ex. Bumble exec, former Canva exec and founder of Phase One Ventures Mahesh Muralidhar, as well as ex-Uber execs Tyler Trerotola and Jaikumar Ganesh.


The target market 

Kiki is aimed at everyday people that aren’t looking to make a profit. Instead, the app targets users who travel for months at a time and don’t want to lose money on rent while they’re away.


“We’re not taking away housing,” Thomas-Smith told us. “We’re using empty space that’s literally already there… we’re bringing money back to the locals.”


How Kiki Works 

Kiki works similarly to dating apps since it matches listers with renters with similar likes and preferences. 


The app follows an invite-only “friend of friends” model to ensure people are vouched for and will hopefully respect someone else’s space. Users must link their Instagram accounts to be accepted. 


The challenge 

It’s all about human psychology says Toby!


How can someone go from being a stranger to a friend of a friend as quickly as possible - using profiling as a key tool 


It had a list of prompts that renters can choose from. For instance, “How would your friends describe you in one sentence?” “I go crazy for” and “This year, I really want to.” Listers are able to set criteria for their listing, such as minimum age or no smokers.


The  business model 

Kiki also has a management feature where users can keep track of on-time payments, secure deposit holdings and e-sign sublet agreements. 


For each listing, Kiki takes 10% of the rent price.


Thomas-Smith founded the company as Easyrent in 2018 while attending university in New Zealand and working for Airbnb.


The Pain 

“I was working for Airbnb cleaning toilets and discovered this whole short-term rental market,” Thomas-Smith said. “I learned that these properties were making all their profit over the summer, and then they would lose money over the winter. [I was] like, ‘How are these places sitting empty for almost half a year?’ It seemed crazy to me.”


He also discovered that all his college friends renting places for the school year were wasting money when they went home for breaks. 


The Pain Killer 

To solve this problem, Thomas-Smith built an invite-only matchmaking service — originally called EasyRent — that allowed New Zealand-based students to rent out their places during the summer, mainly to other students coming into town for internships.


In 2021, when EasyRent gained enough traction, Thomas-Smith brought on Jack Montgomerie as co-founder and software engineer Alexander Nicholson to help expand its user base to a wider audience.


The startup closed a $230,000 (NZD) seed round in 2022 and launched in Sydney, Australia, to users in Bondi Beach. EasyRent filled 1,500 homes just in that one neighborhood alone! 


Focussed Energy

Kiki is placing all its energy  on the New York marketplace and is  sunsetting the app in New Zealand and Australia


This October, Kiki is rolling out to one neighborhood to start — either East Village or Williamsburg. Interestingly enough, it will also only be available to Australians at launch. The company saw the most demand from Aussies, particularly those who moved to NYC and want to save on rent when they visit family abroad.


How to Join the community

Users interested in signing up for the waitlist must submit their selfies along with their Instagram accounts. Kiki is accepting the top 10 people every week based on how many friends they invite and how many people share their Instagram story with @kikiclub.nyc tagged.

In the coming weeks, Kiki plans to gradually roll out to different neighborhoods and nationalities. It will be available to everyone in NYC in a few months.

Note that subletting an apartment in New York requires the landlord’s permission. If a tenant sublets without approval, the landlord may take legal action against them. A sublease in NYC must last for a minimum of 30 days.


And then Expansion 

Thomas-Smith said Kiki wants to expand to the top 10 cities in the U.S., including Boston, Los Angeles, San Francisco, Miami, Chicago, Philadelphia, Washington, DC, Seattle and Austin. 


With investors already lined up for a future Series A funding round, the startup also ambitiously plans to grow its team to 100 employees and launch in 20 cities in Europe by 2024.