A few months ago, I had the opportunity to meet longtime entrepreneur and author Barry Moltz in our shared hometown of Chicago. Barry has founded and run small businesses for more than 15 years, and he’s a nationally recognized expert on entrepreneurship who has given hundreds of speeches to audiences ranging from 20 to 20,000. Not surprisingly, he was recently elected to the Entrepreneurship Hall of Fame.
When Barry sent me a copy of his new book, Bounce, I wasn’t sure what to expect. I’d heard it was good, but I’ve read dozens of good books on entrepreneurship and leadership. But Bounce was particularly entertaining and memorable. It did two things for me that few books have done – it made me feel better about my personal experiences with achievement and failure and gave me hope for whatever may happen in my future.
Barry uses accounts from his personal journey as well as interviews with dozens of business executives and real-world analogies from one-hit wonders and comic book heroes to space missions and indigenous peoples to demonstrate practical points about the natural ebb and flow of all business careers. In his description of widely accepted archetypes of success (making something from nothing, the rich get richer, and the extraordinary comeback), Barry eschews the notion that the path to success is predictable and repeatable. And by advocating that your overall process matters much more than any one outcome and teaching entrepreneurs and business leaders to develop resiliency, Bounce provides a framework for moving forward from just about any negative event. Barry’s prescription for building business confidence includes advice on the following:
· Humility: We all screw up, and randomness and luck play a large role in success, so “right size” your ego.
· Fear of Failure: It’s okay to be afraid, but make the nervous butterflies act in formation. If you can handle the potential outcome, act. Experience builds confidence.
· Risk Taking: Know if the reward will be worth the risk. Enlist others to help you in making that decision.
· Measurement: Money does not buy happiness. For you, what does?
If you’re an ambitious soul working in the business world, you’ll be better off for having read Bounce. I am.
It’s easy for workers who have recently been laid off to quickly get discouraged, especially when faced with dismal economic news and grim job prospects. While traditional office jobs may be difficult to snag, there are many inspiring, nontraditional ways to stay afloat until the economy settles down. The folks at Shure Pets, a company that sells pet products, kindly alerted me to the prospect of direct selling. In the last couple of years, the direct selling industry has expanded far beyond the Avon lady.
Says Founder Andrew Shure: “Direct selling is a great way to earn a living, supplement a truncated income, or even keep occupied and on the ball while looking for another position in your desired field. It prevents gaps on your resume and provides useful sales and networking experience. It’s an opportunity for you to be your own boss and work flexible hours, and many direct selling consultants also enjoy the social aspect of the work.”
If you're interested in finding a direct selling organization to be a part of, the best place to start is the Direct Selling Association's website. There, you can find a list of direct sellers of everything from jewelry to gourmet foods to tupperware to pupperware. If you're unsure about whether or not direct selling would be a good fit for you, DirectSelling411.com can tell you what skills you need, how to evaluate a company and more. They have a section "For Sellers" that will help you evaluate your strengths and weigh the benefits before entering into a direct selling endeavor. Note that it’s important to like the products you’re selling, and find a company that can give you a solid support system for a fast, smooth start.
Worried that you don’t have a large enough network to be successful at direct selling? Shure Pets advises consultants to start by making a list of everyone in their network, and then asking each of those people for three additional people. Soon, they have a solid customer base to start making sales and booking parties.
When I was little, my mother sold vitamins. She was pretty good at it, and it ended up being the most profitable career of her life.
The New York Times just reported on a new phenomenon in job hunting that has arisen as a result of the high unemployment rate among white-collar workers – accountability groups.
According to the Times, membership in various networking organizations across the country for unemployed executives and other professionals has ballooned in recent months as the recession has continued its march, sparing not even the highly educated and skilled. Providing a spur as well as solace, the groups offer transition assistance for people who previously led comfortable lives in the middle and upper-middle class. The group in the Times piece, which is based in suburban Chicago, meets on Mondays to provide structure for the week. Members’ days are filled with a revolving door of networking meetings, applications and chasing down the all-important but elusive hiring “decision-maker” at their target companies.
White-collar unemployment rose to 4.6 percent in December, up from 3 percent the year before. The figures still pale in comparison to the 11.3 percent unemployment rate for blue-collar workers. But Lawrence Mishel, president of the liberal Economic Policy Institute, said white-collar unemployment rose faster in the past year than in any other recession dating to at least the 1970s, even the devastating downturn of the early 1980s. Moreover, white-collar workers also tend to form a disproportionate share of the long-term unemployed — those who have been out of work six months or longer.
WCW reader Zak Nelson recently started a similar club Tacoma, Washington. Their goal as a group of proactive job seekers in a common geographic region (Pierce County, Washington) is to share resources, encouragement, and accountability in their job searches, no matter their ages or difference in background.
Want to find a group in your area? I recommend checking out Meetup.com for options.
Thanks to WCW reader Amy for turning me on to the cool new service Rypple, which seems to be a direct response to Gen Y's need for constant feedback at work.
The premise of Rypple is that successful people have friends, mentors, managers, and clients they view as trusted advisers. These people can give real, useful feedback, but often the process is awkward and time-consuming. And annual performance reviews are loaded because they are linked to your pay and/or advancement in the organization.
Rypple is especially relevant now because it’s a way to curb your anxiety if you think your job might be in jeopardy as so many are these days. Instead of wringing your hands worrying about what your boss really thinks of your performance of late, you can just ask.
How does it work? After you sign up (which is free), you go to “get feedback” to ask your mentors, co-workers, managers, friends, or clients a single question. Rypple lets them know you're looking for feedback or advice, and gives them a quick way to tell you what they really think (since their identity is kept secret). It only takes them a minute to respond and they don't even need a Rypple account. Then, you head to “review results” to see the responses as they come in.
The positive applications of Rypple are endless. I might even start using it to solicit recommendations from clients and audience members in real time, immediately after a project or an event. I wish the founders best of luck with this first class idea!
Thanks to ProBlogger’s Darren Rowse for sharing an excellent piece by Laura Roeder on making deals with bigshots in 10 minutes. Here are some highlights of Laura’s advice, which is sound and absolutely worth following, because no matter how great you are, there will always be someone higher up the totem pole who can help you.
Keep the chit-chat to a minimum. Follow their lead if they want to make small talk later, but in the beginning you should get to the point quickly. If this feels awkward to you, start the call by saying “Alright, let’s get right to it!”
Do not assume that they know who you are or have read materials you’ve sent them. Start with a brief overview. Do not take it personally if people have no clue who you are, they are taking the time to speak with you because they want to know who you are.
Tell them exactly what you’d like them to do. Never contact someone and say “Hey I thought we could do a joint venture, any ideas?” Don’t make them work for you, always come from the position that you are working for them. The benefit is two-fold. One, they will be happy that you came to the table with something. Two, it is much easier to agree to an idea than to think of an idea on your own. Make it easy for them to say yes!
Ask if there’s anything else they would like to discuss. You are leading the conversation, not dominating it. Make sure you give them a chance to ask clarifying questions or throw in their own ideas.
Propose some next steps. So many people overlook this and finish a call with “Um, then I guess we’ll get back in touch in a few months?” You need to take ownership of putting your plan into action.
I’d suspected as much, and then I read it in the Economist. Sometime between the beginning of the economic downturn and now, Gen Y has become unentitled. Says the article that confirmed my thoughts:
Jessica Buchsbaum first noticed that something had changed in May 2008. The head of recruitment for a law firm in Florida, Ms Buchsbaum was used to interviewing young candidates for summer internships who seemed to think that the world owed them a living. Many applicants expected the firm to promote itself to them rather than the other way around. However, last May’s crop were far more humble. “The tone had changed from ‘What can you do for me?’ to ‘Here’s what I can do for you’,” she says.
The global downturn has been a brutal awakening for the youngest members of the workforce - variously dubbed “the Millennials”, “Generation Y” or “the Net Generation” by social researchers. They got used to a world in which jobs were plentiful and firms fell over one another to recruit them. Now, their prospects are grimmer. According to America’s Bureau of Labour Statistics, the unemployment rate among people in their 20s increased significantly in the two most recent recessions in the United States. It is likely to do so again as industries such as finance and technology, which employ lots of young people, axe thousands of jobs. Net Geners are also finding it harder to hop to new jobs, while their dissatisfaction grows as crisis-hit firms adopt more of a command-and-control approach to management - the antithesis of the open, collaborative style that young workers prefer.
To me, this last sentence says a great deal. I don’t think the generational clashes are going to stop just because Gen Y is less cocky. Today’s young professionals still need a supportive work environment, and given that they’re the future of most organizations, companies that are unable or refuse to provide it will have troubles that extend beyond their current economic woes.
Nick McCormick recently sent me a copy of his new book, Lead Well and Prosper: 15 Successful Strategies for Becoming a Good Manager. I’ve read a lot of books on management, and too often they’re gimmicky and theoretical. What I liked about this title was that it was short, conversational, and to the point. As Nick says, management today is in a state of crisis. It’s so difficult to get it right that an entire industry has been built around ridiculing it. Why do you think The Office is so popular? Two words? Steve Carrell.
Says Nick: "I wrote the book somewhat out of frustration. I've witnessed incredibly poor management throughout my career, and I've seen the negative impact this can have on people and companies. I wanted to help those who recognize the need to improve."
Lead Well and Proper, which is slim enough to be read in a sitting or two, discusses what may seem like basic strategies but are often forgotten in the hectic pace of modern business life. Nick’s lessons – like provide honest and timely feedback and do what you say you’ll do – are delivered using amusing real-life scenarios and compact lists of dos and don’ts. And most importantly, the book includes concrete and realistic actions readers can take tomorrow to become better managers.
My favorite part was a quiz on management effectiveness, which I just wish had been at the beginning of the book instead of the end. Basing my answers on the period when I was a manager, I took the quiz and received a 24. I’m a good manager, but I can still improve. By spending a few hours with Nick’s book, I think I already have!
Thanks to my friend Jason Alba, this week I headed over to HumanMetrics.com to take the Myers Briggs personality test for free. I’ve taken the test before, but it’s cool to revisit it occasionally to see if the results are the same. In the interest of full disclosure, I am still an INTJ (Introverted, Intuitive, Thinking, Judging). At various points in my life, I have been an INFJ (Introverted, Intuitive, Feeling, Judging), and at prior testings my extroversion score was a bit higher than it was this time.
What does it mean to be an INTJ? According to HumanMetrics.com, INTJs appear to project an aura of definiteness, of self-confidence. When it comes to their own areas of expertise -- and INTJs can have several -- they will be able to tell you almost immediately whether or not they can help you, and if so, how. INTJs know what they know, and perhaps still more importantly, they know what they don't know. INTJs are perfectionists, with a seemingly endless capacity for improving upon anything that takes their interest.
Personal relationships often the INTJ’s Achilles heel. While they are capable of caring deeply for others and are willing to spend a great deal of time and effort on a relationship, the knowledge and self-confidence that make them so successful in other areas can suddenly abandon or mislead them in interpersonal situations. To complicate matters, INTJs are usually private people, and can often be naturally impassive as well, which makes them easy to misunderstand. Perhaps the most fundamental problem, however, is that INTJs really want people to make sense.
Yup, yup, and yup. Amazing how these things work. I encourage you all to take the Myers Briggs and remember your result. While it’s not something you should necessarily share with employers voluntarily, it’s information you should have in your back pocket to better understand yourself, the way you operate at work, and how you manage your personal and professional relationships.
In their eagerness to get a job offer, many prospective employees forget that they are making a choice too. Presumably they’re going to spend a good chunk of their lives with this organization, and yet they don’t take the time to really evaluate whether or not it’s a good place for them to be. That’s why I love this article from the excellent Heather Huhman at Examiner.com. Heather says:
Even if the position description sounds perfect, the culture is ideal and you love your future supervisor, it is essential you look beyond these characteristics to the overall health of the company. Katy Piotrowski, M.Ed., author of "The Career Coward's Guide to Job Searching,” provided five signs to look for that indicate a company is failing.
1. Weak credibility in the industry. If you're just getting started in your career, ask your professors, parents or friends of the family what they know about a company's reputation. If you receive more "thumbs down" than "thumbs up" ratings, think twice about signing on with them.
2. A credit record that raises eyebrows. If you're not sure how to check a company's credit record, talk with your banker about uncovering the data you need. She can steer you to credit-reporting services and help you interpret what you discover. Despite typical ups and downs, better-run businesses will be able to maintain a good credit rating.
3. Being a brand-new business. On average, fewer than 50 percent of businesses survive past the first 48 months. Ask how long your potential employer has been in existence, and aim to sign on with one that's been solvent for five years or more. Your chances of staying employed beyond the short-term will double.
4. A revolving door of employees. If the business changes employees practically every season, beware. Ask to talk with the person who most recently held the position you're considering, and find out why they moved on. Again, former professors, friends and family members may be able to help you uncover the contacts you need.
5. A tiny little voice that says, "Don't do it!" Your intuition can be your best guide. If something about the potential employer doesn't seem right, talk with a mentor you trust to get his feedback about what you're sensing.
Millennials expect to work overseas: Millennials expect job mobility and want the opportunity to experience overseas assignments.
Sustainability and climate change: Today's recruits will choose employers who have corporate social responsibility (CSR) values that reflect their own.
Technology and the ability to network: Millennials view technology as key to socializing and networking and believe it will change the way they work.
Workplace flexibility: Only a small percentage of Millennials expect flexibilities such as working at home and outside regular office hours.
Sharing personal information: Millennials are comfortable about giving employers greater access to their personal information in the interests of personal and business security.
Millennial views on portfolio careers: The idea of employees job hopping in a portfolio working arrangement is not likely to become a reality for Millennials.
Employee loyalty: Millennials express loyalty to the organization they work for, but by no means are they willing to commit to blind loyalty.
Training and development: Training and development is the benefit the Millennials value most highly—particularly coaching and mentoring.
Retirement: Millennials have accepted the idea that neither the state nor the employer will fund their retirement.
Thoughts on 2020: Millennials envision a world where China, India and Russia will have more economic influence than the US and Europe and believe that companies will be more influential than governments by 2020.
Some people are just not all that productive at work despite spending significant face time at the office. And the worst thing is, you might be one of those people and not even realize it. Check out some signs of poor productivity and what you can do about them from Robert Half International and CareerBuilder.com.
Not knowing what to tackle first: If you have dozens of to-dos, it can be difficult to determine which to work on first; you may approach a low-priority project immediately only because it was top of mind. Spending just 10 to 15 minutes at the start of your day organizing your work is a simple and highly effective way to boost your productivity. You'll be able to prioritize and identify the most pressing projects.
Biting off more than you can chew: When you're facing a complicated or tedious assignment, what's the first thing you usually do? Procrastinate, probably. The result is that you have to scramble to finish the assignment on time. A better approach is to break your work down into smaller, more manageable tasks. You'll feel a sense of accomplishment each time you reach a milestone and gradually work toward your goal.
Working at the wrong time: In a recent survey by Robert Half, 57 percent of executives said Tuesday is the most productive day of the week. Monday came in a distant second with just 12 percent of the response. The lesson: Schedule your most important projects for days and times when you are most productive. If you typically have meetings in the morning, for instance, you may save an assignment that requires a lot of concentration for the afternoon.
Keeping your door open: It's important to be accessible to colleagues, but you occasionally need some time for yourself. When you're under a tight deadline or working on a crucial assignment, minimize distractions and curtail interruptions by closing your door or hanging a "Do Not Disturb" sign in your work area. But keep in mind your request will lose impact if your sign is posted at all times.
Missing opportunities to save time: Small "time cheats" that save you a few minutes here or there can significantly boost your productivity. For example, rather than responding to every e-mail as it comes in and losing momentum hit Reply, then save the message in your Drafts folder. You'll be able to respond to the message at a more convenient time and won't forget to answer the person who wrote you.
I just received a press release about this incredibly cool overseas work opportunity, which my friend Lindsey Pollak also featured on her blog this week. Tourism New South Wales is sponsoring a contest to win a free working vacation in one of the greatest cities in the world, Sydney, Australia. Seriously, I went there for my honeymoon and thought it was an amazing place to work and play. And Australians are the nicest people on the planet!
You can win a $6,000 prize that includes airfare, a talent management package (i.e. a job), free event access, and other freebies from Tourism New South Wales. To enter, all you have to do is tell the folks at TNSW why you should receive the ultimate working vacation in Sydney. It’s easy enough to create a video or write an essay about why Sydney will love you, right? Note that only U.S. citizens between the ages of 18 and 30 are eligible, and the contest ends January 31. Details and rules are available at the website.
I’m always telling twenty-somethings that travel is the #1 thing you should make time to do while you’re unencumbered by a family and too many “real world” responsibilities. Unless you have a job that you absolutely can’t leave for a week or two this year, this opportunity is a must for young WCW readers who want to experience the good life on the other side of the world.
Back in the 50s, admitting you were a communist at work would be enough to land you in jail, so you’d keep your mouth shut. But nowadays, people will divulge any and all details about themselves to colleagues. The question is, what do you do when a close co-worker expresses attitudes or beliefs that are in sharp contrast to your own?
A Jewish friend e-mailed me about this issue last week. She and a group of her colleagues were eating lunch at a table in the cafeteria, and her cubicle mate started going off about the Israeli offensive in Gaza and how despicable it was. He’s Palestinian, but I guess they’d never had the occasion to discuss the conflict before. My friend’s a staunch supporter of Israel, and she didn’t know what to do. Suddenly she felt offended by this guy she’d always liked and resented that he’d brought his unwelcome political stance into their comfortable little world.
She asked for my advice, and I sympathetically said that it sounded like a difficult situation, which it is. If you’re in a similar one, I recommend that you try to let your co-worker’s different ideology go unless it affects your daily working life. Not everyone can always share your point of view, so instead of fixating on the negative information you’ve just uncovered, focus on the positive aspects of the person and what you like and respect about him. Also, remember that working at an office with someone is not the same as becoming his best friend. If you keep things casual and don’t expect more, the two of you shouldn’t need to butt heads.
For those of you who need New Years resolutions (and by the way, I’m not doing a post on career resolutions because I feel that topic has been substantially covered in the blogosphere already), here are two ideas for improving your reputation through the use of e-mail.
One thing that has annoyed me a lot recently is the number of people who never respond to my messages, but don’t hesitate to e-mail me – and expect a reply right away – when THEY need something . I must confess, members of the media are guiltier of this than anyone. I don’t understand why some people think relationships are a one-way street. If you want your contacts to help you out in a time of need, when you get messages from them have some forethought and treat them as you’d like to be treated.
Now, on to the second idea. If you’re a high-profile person or an executive and an assistant reads your e-mail, please don’t make this so obvious. Try to answer yourself if you can, even if it takes you a few days. If you must have your assistant answer e-mail for you, have him reply using his own address. I don’t know, it just rubs me the wrong way when I send a personal e-mail to someone and get a response back from the same address, but someone else is doing the writing. If you’re going to put your own e-mail address out there (versus a general info@mycompany.com type of address), take responsibility for the care and feeding of correspondence that comes to you.