Entitled to a Shipping Refund? Get Help Collecting It

Major carriers offer an oft unknown money-back guarantee for on-time deliveries and provide a full refund for late shipments. While eligible refunds can amount to significant sums, it is a time-consuming process to monitor each package. Entrepreneur Magazine speaks to 71lbs Founder & CEO, Jose Li, on issues to consider in evaluating third-party recovery firms.

Read the full article from Entrepreneur

Entitled to a Shipping Refund? Get Help Collecting It. | Entrepreneur.com

Major carriers offer a, oft unknown, money-back guarantee for on-time deliveries and provide a full refund for late shipments. While eligible refunds can amount to significant sums, it is a time-consuming process to monitor each package and submit refund claims within the stated time window. Entrepreneur Magazine speaks to 71lbs Founder & CEO, Jose Li, on issues to consider in evaluating third-party recovery firms to assist companies in receiving their eligible refunds.

Read the full article from Entrepreneur.

Late delivery? Davie Startup 71lbs Helps Get Refunds

South Florida Business Journal reporter Paul Brinkmann talks with Davie-based 71lbs CEO, Jose Li, on the company’s focus and progress to date. 71lbs helps small and midsize businesses collect late shipments refunds by automating the tracking and filing processes. With an estimated $2B in refunds left on the table, 71lbs aims to help businesses easily and automatically collect the refunds their owned. “We’re very busy; it’s good. We are 30 percent higher in business volume than last month,” Li said. “If your driver is one minute late with a package, you can get refund. The catch is, you have to file a claim correctly and quickly.”

Read the full article from the South Florida Business Journal.

Democratizing Shipping for Small Businesses

Jose Li, CEO and Founder of 71lbs, appears on Bloomberg Television’s “Bloomberg Surveillance” to discuss how the company helps SMB customers collect refunds on shipping guarantees. With over $2B in unclaimed refunds each year, 71lbs is enables customers to automatically track and file refund claims.

What Durham’s IDEA Fund Partners Looks for Before Doling Out Cash

Triangle Business Journal staff writer Lauren Ohnesorge talks with IDEA Fund Partners’ Lister Delgado on the decision process the firm uses in determining which startups it wants to invest. “There are too many good ideas out there to alone get the excitement of investors,” says Delgado. “I think traction and momentum are more important than the ideas themselves. And, of course, the people. And by the people, I mean the enthusiasm, the drive to make it happen, little things like the people they surround themselves with.”

Read the full article from Triangle Business Journal.

VHHA Moves Towards Meeting MU

Contributing writer Wendy Grafius covers the work of the Virginia Hospital & Healthcare Association as it aims to satisfy meaningful use patient engagement requirement. VHHA recently partnered with Axial Exchange to provide VHHA members with access to Axial Exchange’s Axial Patient for interactive health management. Axial’s solution will allow patients to access heath information securely across any device, as well as receive medical condition education, medication reminders, and health trackers for weight, blood pressure, glucose levels, and more.

Read the full article from Healthcare Technology Online.

Blocking Nasty Bots From the Inside

Tim Conneally, Forbes contributing author, covers Distil Networks’ new product announcement and what it means for customers. Distil Networks announced that its bot and web scraping security products are now available for enterprises using on-premise cloud deployments.

Read the full article from Forbes.

The Curse of the Rocket Ship

Blog post by John Cambier, Managing Partner

Many of us who make venture investments in tech companies located in the Southeast have, over the years, heard questions from our friends on the West Coast as to whether sufficient entrepreneurial and managerial talent is present here to staff a successful startup with the team it needs to scale.  This is a legitimate question.

I will concede that the breadth and depth of human capital present in Silicon Valley is second-to-none for building (most types of) venture-backed companies. However, as someone who has active portfolio companies on both coasts and has seen, first-hand, the challenges of building a great team in both geographies, I will suggest that the culture of the Valley creates an environment where the price of this talent perhaps outweighs the benefits of abundance.

The problem is quite simply this; in the Valley, everyone wants to be an astronaut.  What do I mean by that? I mean that the default position for 90% of the people I’ve met in the tech ecosystem out there – from the receptionists to the CEOs – is that they’re looking for a rocket ship to ride; ALL THE TIME.  The positive aspect of this is that you have a large number of driven, ambitious people clustered in a (relatively) tight geography.  The downside is that the second someone does not think your particular company is a rocket ship, they bolt for (what they believe is) the current or next one.

So, as a CEO of a company in the Valley, you’re not only constantly having to convince prospective employees that your company is THE current (or next) rocket ship, but you’re also having to convince your existing employees that the company still THE rocket ship.   All of this results in a much higher rate of employee turnover and lower productivity as new people are constantly having to be recruited and trained.  This all has a real cost.

In the Southeast, on the other hand, the default position for most of the people I’ve met in the tech ecosystem is that the company they’re currently with is their company of choice.   I would describe it as a stronger sense of team and tribe where, unless the company is clearly struggling or someone’s boss is an insufferable jerk, a person is generally not actively looking for a job if they’re currently employed.  This, I think, has a huge and underappreciated value.

So, not only does the lower cost of living in this part of the country make for a lower compensation expense as compared to the Valley, but the much lower rate of employee turnover also has very tangible benefits on the productivity of the senior managers and, ultimately, their ability to scale the company.  Hiring the right team is critical to building a scalable and successful venture.  I would prefer that my managers and their reports spend their time on filling new positions as opposed to backfilling existing ones.