Business Leaders

There are a lot of successful business leaders out there. People usually ask "what's common about them?" but for me, the question is "what makes some of them different?" We all know they have the money and the power, but what makes them, them? To me, that is special. Here are two of today's business leaders that I admire the most:

Warren Buffet - Chairman and CEO, Berkshire Hathaway

For starters, Warren Buffet is currently the 2nd richest man in the world, next to Bill Gates. His net worth is $37 Billion. Berkshire Hathaway manages and oversees a number of subsidiary companies such as GEICO, The Washington Post Company, and Coca-Cola. Long story short, Warren Buffet took his path to wealth through smart investment. He is such a motivated business-minded person that at the age of 13 he filed his first income tax return, deducting his bicycle and watch as his work expense for his work as a newspaper delivery boy. With all his money saved up from that job, at the age of 14, he bought his own small farm. In his freshman year in high school, he purchased a used pinball machine together with a friend, in which they placed in a barber shop. Months later, they owned 3 machines in different locations.

This goes to show how motivated he is. What amazes me most about Warren is his dedication to value investing and his personal frugality, even though he's worth billions and billions. For example, he still lives in the same 5-bedroom home that he purchased in 1958. Also, he does not have a private jet and he travels in economy class. He also does not have a chauffeur or a limousine and drives his own car. I personally don't know how he's able to live such a simple life having that amount of money. He's a true role model, and hopefully one day I follow his footsteps.


Donald Trump - Chairman and CEO, Trump Organization

Another business leader I admire would be Donald Trump. This is not because he is a TV personality, but because of his attitude and mindset when running a corporation. Long story short, he's not one to mess with.

Trump Organization oversees nearly all of the business developments of Donald Trump, such as real estate, hotel chains, golf clubs, etc. His current net worth is $2 Billion. Trump is not just any other businessman. He courage and strong belief in his economic predictions made him who he is now. Two decades ago, he had huge financial problems due to the recession that made him unable to make loan payments. He was even forced to file a Chapter 11 Bankruptcy protection. This downfall went on for about 10 years until finally, due to his knowledgeable decisions, he was able to get back on his feet and make his way to wealthiness.

Disruptive and Sustainable Technologies

As bad as it sounds, disruptive technology isn't that bad at all. Well, not from a consumer's perspective, that is. They are innovations that create a new market/competition by using a current technology and applying different sets of features and values.

My favourite and the one I use almost everyday is my digital SLR camera. Around a decade ago, very few people were able to purchase digital cameras. This is because film photography was still used vastly. Nowadays, almost everybody has a digital camera. The reason why this technology was so disruptive is because quality was no longer an issue with digital cameras. Also the convenience of memory cards gives a chance to take thousands and thousands of photos. Not having to develop photographs is also a main reason as to why digital cameras are convenient. As of today, most cellphones are equipped with cameras as well. Later on in the future, digital cameras might be out of the picture as there might not be a need for them since cellphone camera quality is getting better and better.

Sustainable technology has the capacity to endure. One sustainable technology I use very frequently is water. Water is recyclable, and there isn't really a substitute for water (for now, at least).

Goals?

Setting goals in life is more difficult than people think it is. Some set their goals too high and end up disappointing themselves when they don't achieve it. Some set it too low, and end up "settling for less." It is important to analyze what we want to do, and if we are actually capable of doing so. These are key to setting the proper goal in life.

My personal goal is nothing special. I want to finish college, get my degree, hopefully acquire my MBA later in the future, and get started in my career with a decent salary. To be specific, I am actually planning to transfer to Stanford University in California after I finish my studies at Sheridan College. Reason being is that American universities tend to give more value to Ontario school credits compared to Ontario itself. For example, once I finish my 3-year college program, it's only worth 2 years in an Ontario university. In the states, however, it will be worth 3 years. I now only have to go to university for one more year and I get my degree. I also have family and friends in California, which will make adjusting easier. When it comes to my "idol," I would say it would be Warren Buffet. I would like to become such an amazing investor like him one day.

But there's more to it than just finishing school and getting a job. There are a couple of things that has to happen, in order for me to say that I achieved my goal.

I want to be doing what I actually wanted to do. It's not just about the money. I'm not going to deny, money is important, but it does not buy real happiness. It would be really absurd if I went to work everyday wishing I didn't have to deal with my boss, and my actual job.

But then again, I wouldn't mind having my own private jet, a Lamborghini, and a 10-bedroom home =)

Business Process

Recently, I put one of my cars on the market as I can no longer afford paying insurance premiums for 3 cars. It was a 1988 BMW 325i, and it got sold just a couple of weeks ago. Now usually, this is just another transaction, just another car sold. However, we could also look at it as a Business Process. To elaborate on this, a business process is composed of Facilities, Information, Resources, and Activities. To explain it even further, I will break down how all these components played a role in this transaction.


FACILITY
When I decided to sell my car, I chose to post it online. I used Kijiji and AutoTrader as my advertisement. I used these websites as my Facility. Facilities are structures used within a business process. Now it doesn't necessarily mean it has to be a building of some sort. It just means a structure was used to do a business process.

INFORMATION
Whenever a potential buyer came and saw the car, I showed him/her the Used Vehicle Package. Parts of this package show the history of the vehicle's registration and if any liens/debts still withhold the car. Now for a buyer, this is very critical information. You need to know if the vehicle you're about to buy has been through 10 owners and/or if there is a lien on the vehicle (which you will be liable of).

RESOURCES
Resources are items of value. My car was a resource, and the buyer's cash was also a resource. Once I found a buyer, we were ready to proceed with the transaction, which leads to the next point..

ACTIVITIES
The buyer made an offer, in which I accepted. I am now ready to sell my car to a new owner. This process is an activity. An activity transforms a resource into another type of resource. In this case, my car was transformed into cash, and the buyer's cash transformed into a car he just bought.


Once again, something that may seem simple may not be to others. There are numerous business processes we take part of everyday, we just don't perceive it in a different perspective.

Information Systems

What is an Information System (IS)? Majority of us know what IT (Information Technology) is, but don't know what an IS is. To briefly describe IS, it is a system composed of hardware, software, data, procedure, and people that produce information. IT is composed of hardware, software, and data, which are raw components of IS.
Here is a picture to explain it even better:


In our everyday lives, we use at least one type of IS. Today, for example, was a busy day for me. I used at least 5 different types of information systems.

First thing I do when I wake up is check my phone. I received emails and a text message, and so I (people) replied (procedure) by sending emails and a text message back (data) on the email/SMS system (software) of my Blackberry (hardware). I also used computers (my own PC and Rogers') to go on Facebook, pay my bill, and even now since I'm posting here in Blogger. I (people) logged in Facebook/paid my bill/posted in my blog (procedure + data) using Mozilla Firefox/Internet Explorer/Rogers' own payment system (software) on mine and Rogers' computer (hardware).

These are example of things we do on an everyday basis, but not realize the process going on. Now, we can take a look on the simplest procedures from a different perspective and break it down to the 5 components of an IS.

Employment History

As I mentioned in my introductory post, I went straight into the workforce after graduating high school. Surprisingly, I was offered a position that I was not expecting at all. For a teenager, this was a huge move for me. At first it was very intimidating, but I received the training and knowledge I needed to be part of the corporate workforce.

Here is a breakdown of my employment history:








Thomas Cook Group plc - Encore CruiseEscapes (Sept. 2007 - Apr. 2008)

This was my first "real" job, where I worked as a Cruise Specialist. Encore CruiseEscapes is a cruise vacation wholesaler located at the heart of downtown Toronto, and we provide cruise packages to travel agencies all over Canada. To briefly describe my responsibilities, I booked cruise packages including hotels, flights, transfers, etc. in behalf of travel agents, for their clients. The reason why I left the company is because an offer came up from a start-up travel (cruise) company, which brings me to my next employer.










Tripharbour (Apr. 2008 - Sept. 2008)

Tripharbour.ca is a new cruise company in the travel industry, and is located in downtown Toronto as well. I worked as a travel consultant in the company, and enjoyed every moment of it. The reason why I took the position was not only because of better salary and benefits, but I also saw the potential in growth within the company. The President and CEO of Tripharbour is Stuart MacDonald. He is the SVP of Marketing & Packages and CMO of Expedia, and also the Founder and Managing Director of Expedia.ca (Expedia Canada). Having such an impressive background, I believed that Tripharbour will be as successful as Expedia, or even more successful.










Flight Network (Sept. 2008 - Feb. 2009)
Some personal issues came up in life, and I can no longer afford commuting to downtown Toronto. It just happened that I also received an offer from Flight Network in Oakville. Long story short, I had to take a job that was closer to home, without having to worry about rush-hour traffic and taking the subway. My responsibilities were almost identical from the previous job at Tripharbour. Unfortunately, the company had to let me go in February of 2009, due to company restructuring caused by the recession.



So there you have it. After being laid off, I decided that maybe it was enough time for me to know what direction I should be taking in life. And so I decided that it was time for me to go back to school and get my degree. Six months later, I got accepted and started attending Sheridan College. It was a very wise choice, and now that I'm getting the education I need, I will be ready for what lies ahead.

Introduction

So, the first question that probably comes to your heads right now is "Who is Jeff Reyes?" Well as my first post, I will gladly introduce myself briefly.

As I mentioned, I am currently enrolled in the Business Administration - Finance program at Sheridan College. At this point in my life, majority of people are expecting me to have already graduated or at least be in the senior year. Well, I took life in a different route.

I took about 2 years off after graduating high school. Reason being is that like most high school seniors, I did not know what I wanted to do with my life. I was just as confused as everybody else (well, not everybody, but you get my drift). One main point I live by is that I'm not going to commit myself in a college program just because my peers are taking it or my parents said so (unless of course, it actually interests me).

Surprisingly, I was offered a position as a travel consultant in a reputable company in downtown Toronto. Now this was a big step for me, considering I was coming from high school. But I took the step, and two years later, I am now back in college on the way to pursuing my career. Within those two years, I met a lot of respectable and valuable people. I earned experience in the corporate world that was more like an "on-the-job training." It also gave me an idea of the industries that I was and was not interested in. This helped me in deciding on which way I should pursuit my career in.

Now that I have experience, and with the knowledge I am currently acquiring in school, I will be ready to face the "real world" with confidence.