Day Six
Every meeting that BuzzWordy had with his boss Xavia could result in either extreme depression or enlightenment, and this one was no different. Buzzwordy felt jabbing sensation in the back of his neck as he returned to the lobby.
"Sorry for taking a bit longer Olga!" apologized Buzzwordy.
"No sweat Buzzwordy. Shall we pick a date to sign the partnership agreement? My company is eager to move forward with your company." greeted by the heavy set lady with a broad grin.
Buzzwordy did not readily response to her, and instead, he dropped himself into a sofa chair and began to feverishly flip through the partnership proposal. He was convinced that Olga's solution company wasn't going to be the right fit for his company. Why? Their support team was offshore and due to cost saving reasons, the majority of the team members were either recent college graduates or young professionals with less than 3 years of hands-on experience. Furthermore, this partnership would require Buzzwordy's company to fork out an upfront fee PLUS royalty per product sold. Shouldn't a partnership be free and what deliverables would Buzzwordy's company get? It was microscopically clear that this engagement was far from ideal.
"Olga, just to be honest with you, I found tons of red flags in your proposal. I'm not clear on your value proposition, especially when my company has to pay your company an upfront fee PLUS royalty per product sold. Also, what will we be getting from you after everything is said and done. Shouldn't a partnership be treated on an equal footing?" proclaimed Buzzwordy.
He could see Olga stumbling to fetch for the right answers. Her artificial grin was waning in a free fall fashion. She was tongue-locked and utterly speechless.
"Buzzwordy, your questions are very good and it will be better for me to come back here with my manager Bob so we could double team and get your concerns resolved on the spot. Shall we firm up a date?" blurted Olga.
"Thanks Olga. I would prefer for you to discuss my questions with your manager and send me a revised proposal first. This will save us time. For now, lets say that our meeting is over!" said Buzzwordy.
Since leaving Buzzwordy's office that day, there was no sign of Olga whatsoever. Buzzwordy suspected that they were having problems justifying their engagement model.
I will see you all on Day Seven.
Buzzwordy
Saturday, July 17, 2010
Thursday, July 15, 2010
Lets partner together!
Day Five
It must be one of the hot summer days again and Buzzwordy couldn't really remember if it was in July or August. Does it matter? He found himself flipping through a proposal made by one of the potential solution providers. There were many areas of concern, a lot of hidden land mines, and to top it off, his counterpart (in the business development department) from this company wasn't exactly someone whom Buzzwordy would look forward to having an after work drink with.
"Paging Buzzwordy to come to the lobby now!" announced one of his favorite front desk helpers.
"Thanks for saving my day big Joe!" said Buzzwordy as he entered into the lobby.
There she was, his counterpart from the solution company. Heavy set and perfume rich. Buzzwordy decided to take her on and get the matter resolved without leaving the lobby. Immediately after a short exchange of pleasantries, she proposed to him to kick start the company-company relationship, especially when her company has been running an alliance program for the last 5 years.
"Buzzwordy, I'm sure that you have heard about our alliance program and how successful my company has been for the past 5 years. I think my proposal to you is open and straightforward, so lets partner together. I'm also available for a brief drinking session with you if deemed necessary." proposed the heavy set lady.
Oh no, this meeting was moving to an abyss and Buzzwordy sensed a complete disconnect on the spot. He tilted his head backward and caught big Joe staring in his direction.
As Buzzwordy entered into a deep trance while trying hard to compose his reasons for ending this potential partnership, he saw the heavy set lady yapping on the phone with her boss.
"It is going at the right pace Larry and I think we will get it closed within this week. Trust me!" laughed the heavy set lady.
Yes, indeed. We will settle this now.
"Big Joe, Xavia (Buzzwordy's boss) just emailed me to stop by his office. I'll be right back." gestured Buzzwordy to the heavy set lady as well as he walked away from the lobby.
It will be a great closure meeting when Buzzwordy returns. I'll be in touch on Day Six.
Buzzwordy
What is your game plan Buzzwordy?
Day Four
After a few more jolts in Tokyo, Buzzwordy was wide awake. He staggered over to one of the hotel windows and looked down. At 3:30AM, the streets of Tokyo were still lit with neon lights everywhere but the scene was nothing comparing to what they used to be in the 70's and 80's. They were littered with brightness and excitements were felt everywhere, and Buzzwordy remembered all those images well. "Umm, how times have changed Buzz!" sighed the marketing whiz kid.
Before he plonked his laptop down onto the bed, he saw Xavia's (his boss back in the States) response,
Buzzwordy,
I don't understand your de-booking request and cannot accept it simply because it will severely hammer our budget during this fiscal year. I know it is late for you in Tokyo but I need you to come up with a solution now. What is your game plan Buzzwordy?
Xavia
Xavia's reply really got him going - he paced back and forth for at least 5-6 times, paused, and started the whole pacing routine again. It must have been another 30 minutes and the clock just kept ticking and ticking, and Buzzwordy did not have a clue. Frustrated and exasperated, he grabbed the remote control and switched the TV on. Some late night or early morning news about the bank credit crisis in America. The news anchor kept using words like credit crunch, over-leveraged, debt-equity ratio, ... etc. These words began to resonate between Buzzwordy's ears and bingo, he found the remedy to Xavia's question. His fingers were flying on the laptop keyboard as he masterfully typed up his response below,
Xavia,
First of all, please accept my apology for rushing you to settle on this issue. This is not my style normally. My game plan is relatively simple. Lets consider extending their credit limit if they agree to put a security deposit into an Escrow account and permit our company to withdraw such deposit in an event of a default. If we can make this worked, there will be no need for any de-booking and we can meet our budget for this fiscal year. BTW, I meant to say budget and not bug in my email!
Buzzwordy
Immediately after sending this email to Xavia, a response came back from the States,
Doable and worth a try! Now get some sleep. Xavia
Buzzwordy squinted at the clock on the dresser and it was 5:15AM. He just remembered that he had a 6AM breakfast meeting scheduled.
Get some sleep and we will re-engage on Day Five.
Buzzwordy
After a few more jolts in Tokyo, Buzzwordy was wide awake. He staggered over to one of the hotel windows and looked down. At 3:30AM, the streets of Tokyo were still lit with neon lights everywhere but the scene was nothing comparing to what they used to be in the 70's and 80's. They were littered with brightness and excitements were felt everywhere, and Buzzwordy remembered all those images well. "Umm, how times have changed Buzz!" sighed the marketing whiz kid.
Before he plonked his laptop down onto the bed, he saw Xavia's (his boss back in the States) response,
Buzzwordy,
I don't understand your de-booking request and cannot accept it simply because it will severely hammer our budget during this fiscal year. I know it is late for you in Tokyo but I need you to come up with a solution now. What is your game plan Buzzwordy?
Xavia
Xavia's reply really got him going - he paced back and forth for at least 5-6 times, paused, and started the whole pacing routine again. It must have been another 30 minutes and the clock just kept ticking and ticking, and Buzzwordy did not have a clue. Frustrated and exasperated, he grabbed the remote control and switched the TV on. Some late night or early morning news about the bank credit crisis in America. The news anchor kept using words like credit crunch, over-leveraged, debt-equity ratio, ... etc. These words began to resonate between Buzzwordy's ears and bingo, he found the remedy to Xavia's question. His fingers were flying on the laptop keyboard as he masterfully typed up his response below,
Xavia,
First of all, please accept my apology for rushing you to settle on this issue. This is not my style normally. My game plan is relatively simple. Lets consider extending their credit limit if they agree to put a security deposit into an Escrow account and permit our company to withdraw such deposit in an event of a default. If we can make this worked, there will be no need for any de-booking and we can meet our budget for this fiscal year. BTW, I meant to say budget and not bug in my email!
Buzzwordy
Immediately after sending this email to Xavia, a response came back from the States,
Doable and worth a try! Now get some sleep. Xavia
Buzzwordy squinted at the clock on the dresser and it was 5:15AM. He just remembered that he had a 6AM breakfast meeting scheduled.
Get some sleep and we will re-engage on Day Five.
Buzzwordy
Wednesday, July 14, 2010
Did Buzzwordy feel the jolt?
Day Three
I want to share with you all a roller coaster encounter that Buzzwordy had not so long ago. On a business trip to Asia, he did the usual late night drinking ritual with the local boys in a few karaoke bars in Tokyo. After feeling giddy at best, he managed to stumble his way back to the hotel room. Haunted by guilt and responsibility, he forced himself to check his emails at 3AM. Holy nacho, he saw an urgent email from his boss back in the States demanding for an immediate explanation concerning a de-booking request from a customer. "This will surely throw the budget off big time!" exclaimed BuzzWordy.
Tired and half-sober, BuzzWordy found himself struggling with the appropriate words in his reply. He was typing really slow but believed that he got the whole situation under control. This is what he composed before clicking on the REPLY button,
Xavia,
Thx for bringing this de-booking issue to my immediate attention. I fully agree with you that it will definitely throw the bug (typo???) off. FYI, this customer has reached their credit limit and must de-book this large order to stay within their limit.
Pls approve.
BuzzWordy
Suddenly, wham and another wham. Buzzwordy saw the hotel room windows vibrating violently and the bed where he sat on began to slide back and forth. It was like doomsday all of a sudden and this unanticipated earthquake woke Buzzwordy up in a sweat. Without thinking deeply, he hit the REPLY button.
What happened when Xavia saw BuzzWordy's response? Lets find out on Day Four.
Buzzwordy
I want to share with you all a roller coaster encounter that Buzzwordy had not so long ago. On a business trip to Asia, he did the usual late night drinking ritual with the local boys in a few karaoke bars in Tokyo. After feeling giddy at best, he managed to stumble his way back to the hotel room. Haunted by guilt and responsibility, he forced himself to check his emails at 3AM. Holy nacho, he saw an urgent email from his boss back in the States demanding for an immediate explanation concerning a de-booking request from a customer. "This will surely throw the budget off big time!" exclaimed BuzzWordy.
Tired and half-sober, BuzzWordy found himself struggling with the appropriate words in his reply. He was typing really slow but believed that he got the whole situation under control. This is what he composed before clicking on the REPLY button,
Xavia,
Thx for bringing this de-booking issue to my immediate attention. I fully agree with you that it will definitely throw the bug (typo???) off. FYI, this customer has reached their credit limit and must de-book this large order to stay within their limit.
Pls approve.
BuzzWordy
Suddenly, wham and another wham. Buzzwordy saw the hotel room windows vibrating violently and the bed where he sat on began to slide back and forth. It was like doomsday all of a sudden and this unanticipated earthquake woke Buzzwordy up in a sweat. Without thinking deeply, he hit the REPLY button.
What happened when Xavia saw BuzzWordy's response? Lets find out on Day Four.
Buzzwordy
Monday, July 12, 2010
A new beginning for Buzzwordy
Day Two
When I introduced Buzzwordy to the world yesterday, I promised to share with all of you my first Cranium Booster tale. It always cracks me up when I think about how insane some of the companies deal with their Profit Margin issue. So lets take a peek together,
Buzzwordy, the insightful marketing whiz kid was summoned into his company's weekly business status review meeting. Before he could barely situated into a chair, a dull and half-dead finance person speaking in a monotone voice informed everyone in the conference room that the company's beloved sales team has managed to book a huge order from one of the target accounts. A great revenue upside for the company. It was time to celebrate and rejoice. Buzzwordy scratched his head a bit before urging the crowd to give him their undivided attention. For such an enormous order, Sales was able to convince the executive team to overlook the standard margin required for this particular product. Since this account was viewed as a strategic account for Buzzwordy's company, the management team was willing to forgo the short-term profit in exchange for a key vendor spot within this account while enjoying the huge revenue ride. Buzzwordy began to shake his head in disbelief as the crowd continued to cheer for a job well done.
Guess what? Since this account happens to fall within the medical industry and each product life cycle has an average life span of 8 to 10 years, Buzzwordy's company will be earning an average profit margin of 1% for each product sold and throughout the entire product life cycle. At a minimum, his company requires a profit margin of 25% just to stay afloat. Sadly, this important point was completely overlooked as a result of the euphoric booking by the sales team. When this meeting came to a close, Buzzwordy told everyone there that such an action will bring havoc to the company's bottomline and there will be price to pay in time. He coined this incident as "Blunderbuzz".
Lo and behold, the company ended up paying a steep price 2 years after the product has gone into production. Finance was fighting with manufacturing because too much money has been spent and the company was bleeding like crazy. The beloved sales team had a major re-org. and the executive team went into an internal brawl, and some of the team members ended up leaving the company. Unfortunately, the company had signed a long-term supplier contract with this account and could not back out of it. It was a long and painful journey for everyone. Buzzwordy witnessed this mishap and understood every bit of it. He plunged deep into his office chair after a long day of meetings and emails, and suddenly, his eyes gazed at a hand-written Post-it note from the meeting which he attended 2 years ago. "Blunderbuzz, what a blunder for Buzz to see!"
I'll be in touch on Day Three.
Buzzwordy
When I introduced Buzzwordy to the world yesterday, I promised to share with all of you my first Cranium Booster tale. It always cracks me up when I think about how insane some of the companies deal with their Profit Margin issue. So lets take a peek together,
Buzzwordy, the insightful marketing whiz kid was summoned into his company's weekly business status review meeting. Before he could barely situated into a chair, a dull and half-dead finance person speaking in a monotone voice informed everyone in the conference room that the company's beloved sales team has managed to book a huge order from one of the target accounts. A great revenue upside for the company. It was time to celebrate and rejoice. Buzzwordy scratched his head a bit before urging the crowd to give him their undivided attention. For such an enormous order, Sales was able to convince the executive team to overlook the standard margin required for this particular product. Since this account was viewed as a strategic account for Buzzwordy's company, the management team was willing to forgo the short-term profit in exchange for a key vendor spot within this account while enjoying the huge revenue ride. Buzzwordy began to shake his head in disbelief as the crowd continued to cheer for a job well done.
Guess what? Since this account happens to fall within the medical industry and each product life cycle has an average life span of 8 to 10 years, Buzzwordy's company will be earning an average profit margin of 1% for each product sold and throughout the entire product life cycle. At a minimum, his company requires a profit margin of 25% just to stay afloat. Sadly, this important point was completely overlooked as a result of the euphoric booking by the sales team. When this meeting came to a close, Buzzwordy told everyone there that such an action will bring havoc to the company's bottomline and there will be price to pay in time. He coined this incident as "Blunderbuzz".
Lo and behold, the company ended up paying a steep price 2 years after the product has gone into production. Finance was fighting with manufacturing because too much money has been spent and the company was bleeding like crazy. The beloved sales team had a major re-org. and the executive team went into an internal brawl, and some of the team members ended up leaving the company. Unfortunately, the company had signed a long-term supplier contract with this account and could not back out of it. It was a long and painful journey for everyone. Buzzwordy witnessed this mishap and understood every bit of it. He plunged deep into his office chair after a long day of meetings and emails, and suddenly, his eyes gazed at a hand-written Post-it note from the meeting which he attended 2 years ago. "Blunderbuzz, what a blunder for Buzz to see!"
I'll be in touch on Day Three.
Buzzwordy
A new beginning for Buzzwordy
Day one,
I must say to the world and myself that it is wonderful to have a totally liberated feeling after slaving away in the corporate world for more than two decades.
Hello everyone, the corporate world that I'm referring to just happens to be in the technology area. I still remember vividly about my last day at work - it was relatively uneventful to say the least. A few old colleagues stopped by my office to bid me farewell while others dodged the other directions as I sauntered down the corridor carrying a box full of my personal collectibles. I kept telling myself that once I walk out the back door and into the parking lot, it will be a new beginning for me. A new era of opportunities, risks, and may be some rewards (which I am yearning to define them as the days and months unfold!) will await me.
First of all, let me briefly introduce myself. One of my lifelong dreams has been to create this fictitious character which I call Buzzwordy. Who is this character? It represents millions of hardworking, risk loving, knowledgeable, and creative business people in the world. Needless to say, I know that you are all out there in the cyberspace and I want to reach out to all of you using Buzzwordy as my medium of communications. The beauty about Buzzwordy is the fact that it transcends borders and nations, and creates a worldwide community to share business knowledge, and to help one another to improve and advance. Through Buzzwordy, I'll share with all of you my personal business experiences. They will be told in a humorous or sometimes sarcastic manner so that we can all have some fun laughing about these stories which I will call them "Cranium Booster".
So day one is just a very brief introductory day for everyone to meet Buzzwordy. I will begin my first Cranium Booster on Day two.
Buzzing off for now and will be back.
Buzzwordy
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