Part 4 of How to Win Friends and Influence People teaches one how to change someone's ways without offending them or creating resentment. Being in bands, I have found myself in many situations where these techniques are helpful. Oftentimes, I will start playing music with someone just for fun. If it starts becoming serious, I usually try to improve the band with other people. In the case of one of my most recent bands, I had been playing music with my friend who wasn't all that good at guitar. To be fair, I was playing drums which I wasn't exactly an expert at, but the whole thing was just for fun. However, we started getting asked to play a lot of shows and I wanted the band to become more serious. I suggested to my friend that we find another guitarist so he could become full time singer, and emphasized that I thought his lyrics really made the band. He saw absolutely no problem with that and we found another guitarist. This comes from suggestion 9 of Part 4: Make the other person happy about doing the thing you suggest.
Monday, March 30, 2009
Revised: Financing Sources
When looking for an appropriate financier for my start up company, I came across the Chesapeake Emerging Opportunities Club. From their website: "The Club was formed for accredited investors and institutions in the Central Maryland area who are seeking active involvement in the investment decision process and in portfolio companies." Normally, I feel I would not seek an angel investor, but this club includes investors from all different backgrounds, including food services, which is closely related to my business.
Here is the contact information I found:
Tara Greenbaum
443-367-0101
tarag@ecapitalllc.com
office:
9256 Bendix Road
Suite 300
Columbia, MD 21045
443-367-0101
The Chesapeake Emerging Opportunities Club has only invested in 6 companies to date, mostly high tech firms. Three they have invested in are: Cylex, Inc., Service Bench, Inc., and Naviscan.
Another company I found was Entertainment Concepts Investors, Inc., the restaurant and club division of the Cordish companies. They are located at:
601 East Pratt St., 6th Floor
Baltimore, MD 21202
410-752-5444
David S. Cordish, Chairman
Here is the contact information I found:
Tara Greenbaum
443-367-0101
tarag@ecapitalllc.com
office:
9256 Bendix Road
Suite 300
Columbia, MD 21045
443-367-0101
The Chesapeake Emerging Opportunities Club has only invested in 6 companies to date, mostly high tech firms. Three they have invested in are: Cylex, Inc., Service Bench, Inc., and Naviscan.
Another company I found was Entertainment Concepts Investors, Inc., the restaurant and club division of the Cordish companies. They are located at:
601 East Pratt St., 6th Floor
Baltimore, MD 21202
410-752-5444
David S. Cordish, Chairman
Monday, March 23, 2009
Revised First Year Budget
This assignment can be found here.
Note: The Station North Arts District offers special Tax incentives to businesses promoting the arts such as:
Note: The Station North Arts District offers special Tax incentives to businesses promoting the arts such as:
(1) a property tax credit on qualifying renovations;
(2) a waiver of the admissions & amusement tax; and
(3) an income tax credit for most artistic work generating revenue in the District.
Since my business is one promoting the arts I am assuming that I would receive some of these benefits.
Information on this can be found here
Secret of Socrates
I still find it odd to implement this newest tip from How to Win Friends and Influence People. No matter what situation I think to use it in I still feel like a phony salesman. Either way, I attempted to implement it this past week with some contractors who were working on my house. I was in the situation where the work they were doing was preventing me from clearing the area they would be working on next. Since I knew that the work they were on was the last for the day and I was just making it harder for them to get done, I sensed an opportunity to use the "Secret of Socrates." First I asked them if they would like to leave early. They of course nodded their heads, said "yeah," etc. Then I apologized for getting in their way and asked if they could be a huge help to me. They said sure and with their help the job was quickly taken care of.
**Journalist Interaction
After receiving a friendly response back from the Journalist I contacted, I requested him to be a friend of mine on facebook. I also sent him a message asking if he'd have an article in the next Retriever.
**Journalist Interaction
After receiving a friendly response back from the Journalist I contacted, I requested him to be a friend of mine on facebook. I also sent him a message asking if he'd have an article in the next Retriever.
Monday, March 9, 2009
Social Interactions 3
1)My first Social Interaction took place at the Satyr Hill Cue Club in Loch Raven. I came in on Wednesday around noon with my friend Nick. The place was empty except for us and it had been a while since either of us had been there. I remembered that the guy at the guy at the desk liked to go by "Doc," so as we were setting up our first game, I called over to him and asked how he was doing. I think he was very glad someone showed an interest in him, because he ended up coming over and talking to us for the entire time we were there. He offered us some tips and even gave us some food.
2)Another interaction took place with Erica, a TA for my Science class on Friday. She had marked me as getting a zero for not turning in an assignment online, although I knew I had done it. Assuming it was a simple mistake on her part, I went up to after class, spoke to her by name, asked her how she was doing, and then asked if she could check my assignment. She saw that my assignment had been posted and she quickly changed my grade. I thanked her and I was on my way.
3)On Thursday, I babysat my sister's children. I came to the conclusion they all have ADD and calling them by name doesn't help. They like it when I smile though. Afterward, I stopped at Subway and ordered a chicken teriyaki sub. I was the only customer in the store and the employee looked like she was about to fall asleep. I asked her if it had been this slow the entire time. She mumbled a few things and didn't make much of an attempt to look at me. I tried to engage her in atleast some conversation but i t was hopeless.
4)On Saturday, My sister and I went to see her husband's band(The Snallygasters) play at the Hexagon in the Station North Arts District in Baltimore. Being in a band myself, I have found that, no matter what type of band or how good they are, it never hurts to make connections. So, I made an attempt to talk to everyone in his band. It made the situation easier since my Brother-in-law was around them most of the time. I got to know each of their names and asked about bands they were in. Eventually the subject was brought up that I was in bands and they asked to me tell them when I had a show coming up.
5)The Station North Arts District is a place I have often suggested as somewhere I'd like to start a business, so I took the opportunity to talk to the person working at the front. I had actually just been at New York Fried Chicken across the street and still had some food. I had been curious about collard greens so I got some and realized I didn't like them very much. I offered them to the guy(Dan) at the front and he was rather excited about them. I started talking to him while he was eating my food about how business has been. He told me that after a lot of struggles with legal issues and liquor licenses, the venue become a non-profit, volunteer-based venue. It was a little worrisome for me but I feel it is a good step to get to know other businesses in the area.
6)I stopped in Bestbuy during the week as I was looking for extra memory for my phone. I asked a salesman, Joe, for some help. Without asking, he told me he had the new Blackberry Storm. I figured off the bat this guy was either an innovator or early adopter. He knew right away what type of memory would fit into my phone and offered to help me with it. I asked him some question about what applications he downloaded and he showed me some cool ones which I took advantage of, namely Google Maps.
7)My girlfriend and I were invited to dinner with her friend, Bethany, and her boyfriend. I had already met Bethany, but I wanted to make a good impression on her boyfriend, Tim. I asked him a few questions and quickly found out he was a big Orioles fan, as am I, so we made plans to go to some games this summer.
8)Every other friday, my parents have Merry Maids come to their house. I find them rather pointless so I usually just ignore them if I'm around when they are. However, I started talking to them after hearing them complain about their boss. I just asked them a few questions about their job and joked around with them a little. Before they left, I made sure to get their names, Lauren and Sarah, then told them I hoped to see them next time.
9)My friend Nick just came back from California to visit, so I hadn't seen any of his family either. I drove to his mom's house to see him but he wasn't there when I arrived. I talked to his mom for a little while to catch up on how things had been going for her. I referred to her as Ms. Ybarra.
10)At work this past Saturday, my boss, Richard, appeared to be having a rough day. I asked him how it was going and he told me that there was just a lot of work and he wanted to leave because he was supposed to take his family out to dinner. I was just scheduled to work at the front of the store, but I offered to do the last oil change so he could go home. He was a little surprised but took me up on my offer with a big smile and then took off.
Retriever Writer Interaction:
I contacted Michael Baldwin, who writes sometimes for the opinion section of the Retriever. I genuinely find his articles amusing, so I sent him an email telling him how much I liked them and asked about his major and what he does. I was surprised to find out he's actually ex-navy and an engineering major.
2)Another interaction took place with Erica, a TA for my Science class on Friday. She had marked me as getting a zero for not turning in an assignment online, although I knew I had done it. Assuming it was a simple mistake on her part, I went up to after class, spoke to her by name, asked her how she was doing, and then asked if she could check my assignment. She saw that my assignment had been posted and she quickly changed my grade. I thanked her and I was on my way.
3)On Thursday, I babysat my sister's children. I came to the conclusion they all have ADD and calling them by name doesn't help. They like it when I smile though. Afterward, I stopped at Subway and ordered a chicken teriyaki sub. I was the only customer in the store and the employee looked like she was about to fall asleep. I asked her if it had been this slow the entire time. She mumbled a few things and didn't make much of an attempt to look at me. I tried to engage her in atleast some conversation but i t was hopeless.
4)On Saturday, My sister and I went to see her husband's band(The Snallygasters) play at the Hexagon in the Station North Arts District in Baltimore. Being in a band myself, I have found that, no matter what type of band or how good they are, it never hurts to make connections. So, I made an attempt to talk to everyone in his band. It made the situation easier since my Brother-in-law was around them most of the time. I got to know each of their names and asked about bands they were in. Eventually the subject was brought up that I was in bands and they asked to me tell them when I had a show coming up.
5)The Station North Arts District is a place I have often suggested as somewhere I'd like to start a business, so I took the opportunity to talk to the person working at the front. I had actually just been at New York Fried Chicken across the street and still had some food. I had been curious about collard greens so I got some and realized I didn't like them very much. I offered them to the guy(Dan) at the front and he was rather excited about them. I started talking to him while he was eating my food about how business has been. He told me that after a lot of struggles with legal issues and liquor licenses, the venue become a non-profit, volunteer-based venue. It was a little worrisome for me but I feel it is a good step to get to know other businesses in the area.
6)I stopped in Bestbuy during the week as I was looking for extra memory for my phone. I asked a salesman, Joe, for some help. Without asking, he told me he had the new Blackberry Storm. I figured off the bat this guy was either an innovator or early adopter. He knew right away what type of memory would fit into my phone and offered to help me with it. I asked him some question about what applications he downloaded and he showed me some cool ones which I took advantage of, namely Google Maps.
7)My girlfriend and I were invited to dinner with her friend, Bethany, and her boyfriend. I had already met Bethany, but I wanted to make a good impression on her boyfriend, Tim. I asked him a few questions and quickly found out he was a big Orioles fan, as am I, so we made plans to go to some games this summer.
8)Every other friday, my parents have Merry Maids come to their house. I find them rather pointless so I usually just ignore them if I'm around when they are. However, I started talking to them after hearing them complain about their boss. I just asked them a few questions about their job and joked around with them a little. Before they left, I made sure to get their names, Lauren and Sarah, then told them I hoped to see them next time.
9)My friend Nick just came back from California to visit, so I hadn't seen any of his family either. I drove to his mom's house to see him but he wasn't there when I arrived. I talked to his mom for a little while to catch up on how things had been going for her. I referred to her as Ms. Ybarra.
10)At work this past Saturday, my boss, Richard, appeared to be having a rough day. I asked him how it was going and he told me that there was just a lot of work and he wanted to leave because he was supposed to take his family out to dinner. I was just scheduled to work at the front of the store, but I offered to do the last oil change so he could go home. He was a little surprised but took me up on my offer with a big smile and then took off.
Retriever Writer Interaction:
I contacted Michael Baldwin, who writes sometimes for the opinion section of the Retriever. I genuinely find his articles amusing, so I sent him an email telling him how much I liked them and asked about his major and what he does. I was surprised to find out he's actually ex-navy and an engineering major.
Monday, March 2, 2009
Additional Traffic
In an attempt to increase traffic to my blog, I placed a link to it on my facebook as well as my myspace (which I haven't actually used in quite a while but maybe some people look there).
Recalculated Enterprise Value
As of March 2, 2009, according to Yahoo Finance:
Apple has 890,550,000 shares outstanding at $88.52 a share (1:33 pm)
Enterprise Value= $78,831,486,000
Microsoft has 8,890,000,000 shares outstanding at $15.88 a share (1:40 pm)
Enterprise Value: $141,173,200,000
Microsoft's Enterprise Value is currently greater Apple's by approximately 79%
Apple has 890,550,000 shares outstanding at $88.52 a share (1:33 pm)
Enterprise Value= $78,831,486,000
Microsoft has 8,890,000,000 shares outstanding at $15.88 a share (1:40 pm)
Enterprise Value: $141,173,200,000
Microsoft's Enterprise Value is currently greater Apple's by approximately 79%
Monday, February 23, 2009
Social Interactions 2
I like to apply the principles of "How to Win Friends and Influence People" at my job. It is easy enough and usually works out to be a positive experience. However, I had mainly only done this with customers up to this point. On Wednesday, I tried them out on one of my managers, Richard. Richard is a laid back type of manager, definitely not a gen-x manager, so I didn't worry about being too formal with him. It wasn't an incredibly exciting exchange, but I learned that he's quite the family man. Even those that he works with who aren't technically related to him have essentially become family to him.
I took the opportunity to talk to Soo, an assistant manager, also. His son is often with him at work and it almost becomes my second job to watch him sometimes. While he was packing up to leave I took some time to talk with him. We talked about his family, how long he has lived in the U.S., and I also asked about his cell phone. He owned a Blackberry like mine. Soo has also been working quite hard to make the store much more technology-based, so I would not hesitate to place him in the "early adopter" category of the Technology Adoption Life Cycle. I have seen him transform the store in very little time making everything much more efficient.
Other interactions this week included a waitress at a Japanese restaurant, my friend David whom I had not seen in several months, and my brother-in-law.
I took the opportunity to talk to Soo, an assistant manager, also. His son is often with him at work and it almost becomes my second job to watch him sometimes. While he was packing up to leave I took some time to talk with him. We talked about his family, how long he has lived in the U.S., and I also asked about his cell phone. He owned a Blackberry like mine. Soo has also been working quite hard to make the store much more technology-based, so I would not hesitate to place him in the "early adopter" category of the Technology Adoption Life Cycle. I have seen him transform the store in very little time making everything much more efficient.
Other interactions this week included a waitress at a Japanese restaurant, my friend David whom I had not seen in several months, and my brother-in-law.
Monday, February 16, 2009
Social Interactions
This week I made a few attempts to apply the principles from "How to Win Friends and Influence People." Some of the attempts went great, others were just kind of pathetic. The first was actually quite nice. On Wednesday, I made it to the dining hall nice and early for lunch in an attempt to allow some time to talk with a cashier. I feel terrible for not remembering her name right now, but I was happy when I noticed who was at the register. I had never had any conversation beyond "how are you?" with this cashier before, but she always helped me with a big smile on her face, and always said something nice.
After finding out her name and addressing her as such, I asked her about her job and how she liked it, etc. The conversation ended within a minute or two as others began to filter in to the dining hall, but I told her how much I appreciate the job she does, and that her smile always brightens my day no matter how bad a day I may be having. She seemed to genuinely take that to heart.
I know this is supposed to be all about interactions with people working in their respective jobs, but I have found it easier and more appropriate to apply these principles while I'm working, as I work in a very service-oriented atmosphere. On approximately my second day of working at my new job (this was probably 2 months ago), I was being absent-minded and not looking out for people who may need full serve. A woman had pulled up to a full serve pump and must have been waiting for a minute or two. I received a call and was shocked by the tone of the woman on the other end.
"Yes, HELLO?! is anyone there?"
"Yes, Ma'am, how may I help you?"
"I've been waiting at this pump for TWO MINUTES! what is going on here?!"
She continued her rant, but I quickly told her I'd be out in a second and hung up the phone.
The ensuing interaction wasn't pretty. I must have told her I was "terribly sorry" over ten times, but she continued to berate me and told me she would "take care of this." I was a little shaken up after the incident, and only hoped I would not have to see her again. However, this weekend, I saw her busted up station wagon pull up. I held my breath as I walked to her car. Luckily, she didn't recognize me. As her gas was pumping I tried to make conversation.
"Hi ma'am, I feel like I've seen you around before, but never caught your name."
"Oh... it's Cindy."
"Well, it's nice to meet you Cindy, How are you doing today?"
The look on her face showed great surprise as she told me how her day had been. I took care of a few extra things on her car, and after telling her she was good to go, she offered me a tip. I told her "Oh, no please keep it. It was nice meeting you Cindy."
Her face seemed to show utter confusion as she told me I wasn't like the "others". I just chuckled and she drove off shortly afterwards. This encounter really proved to me that a few subtle changes in the way we act can completely change the outcome of any situation.
After finding out her name and addressing her as such, I asked her about her job and how she liked it, etc. The conversation ended within a minute or two as others began to filter in to the dining hall, but I told her how much I appreciate the job she does, and that her smile always brightens my day no matter how bad a day I may be having. She seemed to genuinely take that to heart.
I know this is supposed to be all about interactions with people working in their respective jobs, but I have found it easier and more appropriate to apply these principles while I'm working, as I work in a very service-oriented atmosphere. On approximately my second day of working at my new job (this was probably 2 months ago), I was being absent-minded and not looking out for people who may need full serve. A woman had pulled up to a full serve pump and must have been waiting for a minute or two. I received a call and was shocked by the tone of the woman on the other end.
"Yes, HELLO?! is anyone there?"
"Yes, Ma'am, how may I help you?"
"I've been waiting at this pump for TWO MINUTES! what is going on here?!"
She continued her rant, but I quickly told her I'd be out in a second and hung up the phone.
The ensuing interaction wasn't pretty. I must have told her I was "terribly sorry" over ten times, but she continued to berate me and told me she would "take care of this." I was a little shaken up after the incident, and only hoped I would not have to see her again. However, this weekend, I saw her busted up station wagon pull up. I held my breath as I walked to her car. Luckily, she didn't recognize me. As her gas was pumping I tried to make conversation.
"Hi ma'am, I feel like I've seen you around before, but never caught your name."
"Oh... it's Cindy."
"Well, it's nice to meet you Cindy, How are you doing today?"
The look on her face showed great surprise as she told me how her day had been. I took care of a few extra things on her car, and after telling her she was good to go, she offered me a tip. I told her "Oh, no please keep it. It was nice meeting you Cindy."
Her face seemed to show utter confusion as she told me I wasn't like the "others". I just chuckled and she drove off shortly afterwards. This encounter really proved to me that a few subtle changes in the way we act can completely change the outcome of any situation.
Cell Phone Assignment
My friend Christina happened to be over this weekend so I seized the opportunity to ask her about her current cell phone usage. She's had an LG Shine for a few months now and uses it to the extent of its capabilities. This includes voice calls, text messaging, taking pictures, occasional videos, and some web browsing. She was also very adamant about how helpful it was as an alarm clock as it is the only one she has. Her provider is AT&T. When I asked her what phone she would buy if money was no option, she told me she was completely content with her current phone and felt no need to buy anything fancier. I tried to tell her she needed a blackberry but she wasn't having it.
From this information, and simply knowing her, I can tell you that Christina is among the Early Majority of the Technology Adoption Life Cycle. Christina is not one to need every new new piece of technology. However, she is always quick to adapt to new technology and doesn't wait until the technology is essentially forced upon her to accept it.
Enterprise Value: Apple vs. Microsoft on IPO date(updated)
In order to calculate a company's Enterprise value on its IPO date, we must take the price per share and multiply that by the total number of shares to be outstanding. In the case of Apple, they started with a price of $22.00 per share. 54,215,332 shares were to be outstanding.
54,215,332 x $22.00= $1,192,737,304.
Therefore, Apple's Enterprise Value at the time of its public offering was $1,192,737,304
Microsoft: 24,615,113 shares x $22.00 per share= $543,732,486
In conclusion, Apple's Enterprise value was approximately 219% greater than Microsoft's at the time of its initial public offering.
**Current EV:
Microsoft:
$18.00(share price) x 69,413,800(total shares)= $1,249,484,400
Apple:
$91.20(share price) x 26,780,200(total shares)= $2,442,354,200
Apple's Enterprise value is approximately 195% greater than Microsoft's currently
54,215,332 x $22.00= $1,192,737,304.
Therefore, Apple's Enterprise Value at the time of its public offering was $1,192,737,304
Microsoft: 24,615,113 shares x $22.00 per share= $543,732,486
In conclusion, Apple's Enterprise value was approximately 219% greater than Microsoft's at the time of its initial public offering.
**Current EV:
Microsoft:
$18.00(share price) x 69,413,800(total shares)= $1,249,484,400
Apple:
$91.20(share price) x 26,780,200(total shares)= $2,442,354,200
Apple's Enterprise value is approximately 195% greater than Microsoft's currently
Sunday, February 8, 2009
Russell Wattenberg and his "Book Thing"- edit
I’ve always admired the man who gives a lot and asks for little in return. I don’t think an entrepreneur has to be someone who starts something with the goal of becoming wealthy. While I respect the man who is good at it, I see more in the man who chooses not to.
On the first day of class, our professor gave the assignment of finding the cheapest, yet legal, way of acquiring our necessary literature and viewings. Instantly, I was reminded of a place my sister used to take me when I was younger. The Book Thing Inc. is a non-profit organization located in Baltimore that takes donations of books and gives them all away for free, with the occasional sale of true collector’s piece (a first edition of Hemingway’s, The Old Man and the Sea, went for $228.50 and that went to buying more books). Had I not been stuck at work during almost all of the shop’s open hours, I might have actually gone there to look for our books. Alas, I rushed to Barnes and Noble after work this week to pick up the books at retail price. However, after being reminded of The Book Thing, I set out to learn more about it. I haven’t been there in probably six or seven years.
After getting a little history on The Book Thing, I came to realize how selfless and amazing the owner and founder, Russell Wattenberg, truly is. He’ll tell you there’s some selfishness involved; he figures if more people read there will be more intelligent people to have conversations with. I guess I can accept that.
Ideas come about differently for everyone, and it is the true entrepreneur that follows that idea and makes something out of it. For Wattenberg, he says it all started when he was managing Dougherty’s Pub and a group of school teachers came in for happy hour on a Friday. He had picked up a load of books earlier in the day and still had them out in his van. He gave his keys to them and told them to "Open it up, take whatever books you need for your classes or for yourselves." The teachers were amazed at his generosity and soon afterwards people started donating boxes of books for his “book thing.” Sometimes Wattenberg would load his van full of books, drive to a local playground or bus stop, throw open his doors, and yell “Free Books!”
In 1999, Wattenberg set up a non-profit and acquired enough grant money to rent a space and pay himself a small salary. The space, which has grown from just a small basement with no heat, bathroom, or parking, to a multi-room ordeal, is now located right around Greenmount and 30th. There are no employees, but volunteers are welcome to provide help. If you get a chance, he could use the help; he spends up to a hundred hours a week there sometimes.
At the time a 2002 article was written, he estimated there were roughly 200,000 books at anytime. Pretty impressive considering none of them came out of his pocket, eh? Each week he said about 10,000 books were given away to a wide assortment of people that included university professors and homeless people. I can only guess as to the amount of books he has and gives away now. When asked what book it was he got the most, he immediately replied, “Iacocca,” the autobiography of the very successful automotive entrepreneur. I couldn’t help but be a little amused considering the circumstances.
My fellow students and I are currently reading two books designed to inform us on the principles of being successful. I searched long and hard through How to Win Friends and Influence People and Crossing the Chasm in order to find a specific principle that really defined Wattenberg. He just didn't come off as someone who tried to make people like him, they just did. Of course! Flipping back through the pages of How to Win Friends and Influence People, it was hard to find a principle that Wattenberg didn't employ. For time's sake, I'll just reference principle one: Don't criticize, condemn, or complain. Hell, I know plenty of people who probably wouldn't shut up if they were just scraping by while spending most of their waking hours putting books on shelves. Yet, Wattenberg appears to love it. He wants to spread the beauty of reading and not simply limit his companions to people just like him.
The whole idea behind Russell's creation is that it is a place for everyone. While this is certainly true, it is likely Wattenberg has a target market that he attempts to reach in one form or another. The majority of publicity that The Book Thing, Inc. receives is through online and print publications such as The Citypaper and The Baltimore Sun. These are available for free in one form or another, and while not everyone chooses to read them, it is likely the best Wattenberg can do given his monetary constraints. Through these sources, he probably aims to reach those people who have enough education to be literate, and beyond that enjoy reading on a regular basis. Word of mouth is likely the best publicity The Book Thing can get.
When looking at some statistics, it is a bit shocking how little some adults read. According to a USA Today article, one in four adults read zero books in 2006. However, excluding these people, the usual number read in a year was seven. It is also mentioned that the most avid readers are women and older people. For The Book Thing, Inc. to remain busy, it is necessary that Wattenberg reaches out to his most likely customers and have them spread the word amongst themselves.
The more I read about Russell, the more I wished I was as selfless as him. I find it unfortunate that many of these people who devote their lives to helping others often have to struggle to support themselves. Russell Wattenberg is a truly selfless entrepreneur, and I admire him greatly for that.
Information acquired from http://www.bookthing.org
Saturday, January 31, 2009
Russell Wattenberg and his "Book Thing"
I’ve always admired the man who gives a lot and asks for little in return. I don’t think an entrepreneur has to be someone who starts something with the goal of becoming wealthy. While I respect the man who is good at it, I see more in the man who chooses not to.
On the first day of class, my professor gave the assignment of finding the cheapest, yet legal, way of acquiring our necessary literature and viewings. Instantly, I was reminded of a place my sister used to take me when I was younger. The Book Thing Inc. is a non-profit organization located in Baltimore that takes donations of books and gives them all away for free, with the occasional sale of true collector’s piece (a first edition of Hemingway’s, The Old Man and the Sea, went for $228.50 and that went to buying more books). Had I not been stuck at work during almost all of the shop’s open hours, I might have actually gone there to look for our books. Alas, I rushed to Barnes and Noble after work this week to pick up the books at retail price. However, after being reminded of The Book Thing, I set out to learn more about it. I haven’t been there in probably six or seven years.
After getting a little history on The Book Thing, I came to realize how selfless and amazing the owner and founder, Russell Wattenberg, truly is. He’ll tell you there’s some selfishness involved; he figures if more people read there will be more intelligent people to have conversations with. I guess I can accept that.
For Wattenberg, he says it all started when he was managing Dougherty’s Pub and a group of school teachers came in for happy hour on a Friday. He had picked up a load of books earlier in the day and still had them out in his van. He gave his keys to them and told them to "Open it up, take whatever books you need for your classes or for yourselves." The teachers were amazed at his generosity and soon afterwards people started donating boxes of books for his “book thing.” Sometimes Wattenberg would load his van full of books, drive to a local playground or bus stop, throw open his doors, and yell “Free Books!”
In 1999, Wattenberg set up a non-profit and acquired enough grant money to rent a space and pay himself a small salary. The space, which has grown from just a small basement with no heat, bathroom, or parking, to a multi-room ordeal, is now located right around Greenmount and 30th. There are no employees, but volunteers are welcome to provide help. If you get a chance, he could use the help; he spends up to a hundred hours a week there sometimes.
At the time a 2002 article was written, he estimated there were roughly 200,000 books at anytime. Pretty impressive considering none of them came out of his pocket, eh? Each week he said about 10,000 books were given away to a wide assortment of people that included university professors and homeless people. I can only guess as to the amount of books he has and gives away now. When asked what book it was he got the most, he immediately replied, “Iacocca,” the autobiography of the very successful automotive entrepreneur. I couldn’t help but be a little amused considering the circumstances.
The more I read about Russell, the more I wished I was as selfless as him. I find it unfortunate that many of these people who devote their lives to helping others often have to struggle to support themselves. Russell Wattenberg is a truly selfless entrepreneur, and I admire him greatly for that.
Information acquired from http://www.bookthing.org
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