My Year of Hopefulness - Let's Get a Little Crazy

"We would not be where we are if our ancestors had not been kind of crazy." ~ Edward Tenner, historian of technology and culture

I'm part way through the cover story for this week's issue of Business Week, Case for Optimism. One of the people who worked on the story asked me and 12 other readers to take a look around our neighborhoods to provide examples of why we feel optimistic about the future. The quote above appears toward the beginning of the article, and references a very positive outcome of economic downturns: if we can look past the gloom and doom, we'll find that economic downturns give us the freedom to get a little crazy. In other words, they give of the freedom to pursue our biggest dreams. Bill Gates and Paul Allen started Microsoft in the midst of a recession. Same goes for Steve Jobs and many others whom we now hold us as some of the most successful thought-leaders of our time.

When the world goes haywire and we lose our footing and live to tell the tale, something inside of us shifts. All of a sudden we realize that the leap we just made, whether by our own volition or not, didn't kill us. We're encouraged to take another, slightly larger leap, and then another. Before you know it, we can't contain ourselves. We realize that the biggest risk is not taking a chance on our dream; it's being paralyzed by fear and never pursuing the dream at all.

So here we go - off into the great unknown with a heavy, though hopeful, heart. We're in the midst of a grieving process. Long gone are the fat times of real estate always being a sound investment and Wall Street being the dream of every bright, ambitious college graduate. We're bidding a fond farewell to life on Easy Street, welcoming in a new era of innovation and creativity that our ancestors, the ones who got a little crazy, would be proud to acknowledge as their legacy.

There will be some bumps and bruises along the way, some near-term and long-term. We may have our dreams fall down in mid-flight, and we'll have to get new dreams. The resilience we are building today will serve us well tomorrow, and for many tomorrows to come. My bet's on us.

NY Business Strategies Examiner.com: Positive Black Swans and Insurmountable Opportunity

I arrived home from work today to find a copy of Business Week in my mailbox with the cover story "Innovation, Interrupted" by Michael Mandel. Mr. Mandel can be a bit of a negative Nelly when it comes to the economy. One could argue that he's not negative just unapologetically honest. Lately, he hasn't spent too much time talking about the future. He's mostly focused on the past as well as the here-and-now.

"Innovation, Interrupted" is no exception save for the last paragraph, which gave me pause and then made me smile. Mandel says, "positive Black Swans - unexpected events with huge positive consequences that in retrospect look inevitable...the U.S. could use a few positive Black Swans." For a minute, I let my mind wonder to what those Black Swans might be. And then it became very clear -- we, entrepreneurs, are those Black Swans.We are the ones Mr. Mandel is waiting for.

For the full article, please visit: http://www.examiner.com/examiner/x-2901-NY-Business-Strategies-Examiner~y2009m6d5-Positive-Black-Swans-and-insurmountable-opportunity

My Year of Hopefulness - advice for MBAs still on the hunt

I can't tell you how often I shake my head at my own dumb luck. I started business school in 2005 for several very simple reasons:

1) I knew that I wanted to be a stellar performer in the nonprofit industry. Many of the donors that I worked with were from the business world and I wanted to understand their language, the circumstances they faced at their companies, and the way their minds worked.

2) I was 29, I wanted a graduate degree, and figured if I didn't go then, I may not go at all.

3) I wanted to live an extraordinary life and I wanted to help other people do the same. Understanding our commerce and financial systems inside and out seemed like a very efficient way to accomplish both of those things. Money, and heart, make the world go 'round.

I graduated in 2007, when it seemed that nothing could stop our professional lives from zooming to the top of the charts. I was blessed to be graduating in a very strong economy and alums I spoke to said I should thank my lucky stars. I did.

And then 6 months later, my beliefs, and everyone else's for that matter, about the economy were turned on their heads. The worst recession since the Great Depression. I have great empathy for fellow b-school grads who graduated the year after me, and more still for those set to graduate next month. You are facing extraordinary circumstances; we all are.

Today, I read Jack and Suzy Welch's column in Business Week and they see three possible avenues for newly minted MBAs. Quite frankly, their advice applies to everyone in the job market at the moment and it's very worthy of repeating:

1) Settle, work like heck, and learn to love it.
If you're looking for a new job, or thinking of moving on from where you are now, you might have to settle for a lower title, a new industry, slightly different job responsibilities, or less money than you had originally planned for. And that's okay. Make sure it's work you enjoy and that strategically you'll be poised to leverage it going forward into a position that is a better long-term match for you.

2) Put yourself out there full throttle. Decice the three dream companies or dream people you'd like to work for. Write to them, email them, call them and ask for five minutes of their time. Then prepare for that five minutes more thoroughly than you've ever prepared for anything in your life!

3) Go it alone, sort of. Sit down and make a list of the three things you're really good at and that you love doing. Then imagine the types of companies you could start with those skills. If you need to fill in some gaps, recruit a friend or colleague who has those attributes and see if you can make a go of it. In an earlier column, the Welch's said that this is the BEST time to start a company if you can deliver more value for less money than your competition.

Building on this advice, I'd say try two of the three. Actually, I think you should do all three, and here's why:

1.) Settle and like it. When I was 22 and just graduated from college, I loved theatre. I still do. In a lot of ways my work in the arts saved my life. I wanted very much to work in that industry so on my mother's suggestion, I wrote to every theatre company in NYC and asked them to hire me. I was willing to do anything from fetching coffee to taking messages to running errands. The Roundabout Theatre Company hired me as a customer service rep for $10 an hour and from there I built a career in that industry for 6 years. It was a great time in my life and taught me that a settle (strategically) and love it plan can and does work.

2.) Writing to people - My friend, Richard, has encouraged me for some time now to write to every person I admire that I'd ever like to have some type of working relationship with. He's relentless about repeating this advice to me. Case in point - I love the work that HopeLab does. They build video games for young people managing critical illnesses. I wrote them a letter, they responded, and I hopped on a plane to visit them in the hopes that some day down the line the time will be right for us to work together on some project.

3.) Do your own thing - we should all be working on doing our own thing! If this downturn has made me realize anything it's that I want to be in control of my career. I no longer want to just hand it over to someone else to evaluate and grow. Going forward, I'd always like to have my own side projects that I'm working on, and someday one of those side projects just might be a killer idea that I can build a whole business from.

In short, we all have choices and options. Even in these grim, tough times, we can all find a way to make ourselves useful, and with all the uncertainty a multi-pronged plan might just be the safest thing we can do.

My Year of Hopefulness - The Blessing and Curse of Growth

In BusinessWeek this week, there's a great one page article about The Peter Principle, a book whose basic premise is that the workplace does strange things to people. It was the precursor to The Office, Office Space, and the Dilbert comic strip. We laugh because the material is funny, and it's funny because it's all too familiar to all of us.

The main conclusion of The Peter Principle is one of my favorite quotes that I repeat so often as I read the paper these days or hear my friends talk about their latest work travails: In a hierarchy, every employee tends to rise to his level of incompetence. And while it's a bold statement, it's also completely logical. We are pushed so hard to claw our way up as high as we can go that we risk toppling over to the other side of the tipping point that represents exactly where we optimally operate.

Here's a great example: A friend of mine has a boss who is brilliant at my friend's job, which she used to have. The boss is a fantastic individual contributor, very detail-oriented, strong follow-through, enjoys rolling up her sleeves, and pitching in wherever she's needed. These are perfect skills and interests if you have my friend's job. They aren't good if you're her boss. Her boss has no interest in developing people, managing others, or taking a step back and distributing work among the team members. She likes implementation and has no interest (or skill) in strategy.

Such a classic case: My friend's boss was excellent at her job, and because she did so well they promoted her - right into the completely wrong type of role. We see this all the time at so many companies. It's all about growth - as much of it as we can get as quickly as possible. As a result, a lot of people, good, talented people in just the right place, end up being moved to a position where they have no aptitude or interest. All for the sake of "growth".

You'd think we'd learn our lesson: companies grew too big, people's financial ambitions grew too big, we lived beyond our means for so many years, housing prices and demand for real estate sky-rocketed causing bidding wars. In so many aspects our economy grew so big that it was bloated, and as a result, a correcting period has begun that has destroyed all of the growth we've experienced the last decade. So what good was the growth at all?

Here's a little bit of advice that I try to remember every day and it has helped me tremendously in my career: keep you eyes on your strengths, your interests, and your goals. Not your company's. Not your boss's, or your friends', or your family's. Yours. For example, I enjoy managing large, cross-functional teams that work on complex, multi-faceted problems. I like making things, tangible new products that answer an unmet need, and I'd like to help people live extraordinary lives through the work that I do. Pretty simple to state, hard to keep doing. There are always distractions, always people who want you to stop doing what you're good at and what you love, and do something you aren't so great at. Growth in new areas has its benefits, though should not be undertaken at the expense of your aptitudes and happiness. Why rise to a level of incompetence and fail when you can do what you love and are good at and succeed? Growth has its rewards, but it can, and often does, come with a very heft price tag.

My Year of Hopefulness - Jack and Suzy Welch

I never thought I'd say that Jack and Suzy Welch give me hope. Sound business advice. Straight talk about tough issues. A dissenting opinion. Yes, yes, and yes. But hope? Pure, empathic hope? Yep. Believe it.

In their recent BusinessWeek column, Jack and Suzy Welch not only gave me hope, but they made me tear up. They talk about the entrepreneurs all over this country who are about to emerge as the bright shining light to lead us into economic recovery. "Those kids (the ones at colleges inventing businesses right this moment) and their ideas are the future of business, if we just hang on tight...you can be sure, too, that legions of people out there aren't frightened by the economy. They're called entrepreneurs. And challenges don't make them surrender; they make them fierce."

If ever there was a rallying cry, a mantra to hang on to in this economic mess that seems to get worse by the day, this is it! And if you, as an entrepreneur (or an aspiring entrepreneur), still had any doubt about whether or not entrepreneurs should really consider starting a business in this climate, isn't a vote of confidence from Jack and Suzy Welch just about the best vote you could find? They don't say things to be nice or supportive or upbeat. They say them because they believe them whole-heartedly.

I love this article so much that it is currently hanging up by my desk. So when I sit down to do research, to consider where my career might, could, should go, and to write about entrepreneurs, I'm reminded that Mr. and Mrs. Welch are on our side. And with support like that, it seems we've run out of excuses to not take our careers in our own hands. In their very simple language, Jack and Suzy Welch have not only given us their support, they've put all their cards on the table and told us that the world needs us - we are the people we've been waiting for to lead us out of these dark days and into a better world of business. It is not just an opportunity for us, it is a responsibility. The world needs us. Be fierce.

Growing by Shrinking

We're in the midst of watching our economy contract. These are frightening times, uncertain times for many people. I was inspired by Nicholas Kristof's column this week as he attempted to find a bright spot in all the gloom that is filling our news channels and our own minds. I was flipping through Business Week and saw an ad for IBM with the following headline in bold type: "Sometimes Growing Starts With Shrinking". How can we connect Kristof's ideas and the IBM ad? 

Aside from our economy, I have been thinking about examples of shrink leading to growth. The ipod - making our music libraries physically shrinking from 100's or 1000's of albums, tapes, and CDs into one powerful device helped Apple find new life. The same can be said of many electronics such as cell phones and computers. 

 

Let's consider travel. There have been a myriad of articles that encourage travelers to select a few key cities for a vacation and take in all they have to offer rather than doing a whirlwind trip and only skimming the surface of many cities. It creates more powerful and lasting memories, not to mention providing for some relaxation - the whole purpose of many vacations. 

Another example that struck me was all of the research being done now on multi-tasking. By attempting to do many things at once, it turns out that we do all of them more poorly than we could if we focused on one at a time. I notice this all of the time at work as I'm trying to balance a whole host of projects and objectives. Some studies even show that a lack of focus caused by multi-tasking increases stress levels, worsening general health levels, and lowering IQs.    

Now consider our economy: Think about the benefit of shrinking our spending to increase our savings. Barry Schwartz talks about shrinking the number of options we consider as a means of being happier with the choices we make. And then one of my favorite mantras can bring an immeasurable amount of peace to your life: simplify, simplify, simplify.

All of this is meant to show that shrinking isn't always bad and can even be good for us if we're willing to put aside our belief that bigger and more always equals better. Sometimes doing and having less provides abundance in ways we never expected.   

The agony of confusion and the ecstasy of clarity

By nature, I'm a passionate person. There are a few subjects that really get me going - happiness, creativity, health and wellness, the environment, puppies. (Not necessarily in that order.) And simplicity - I'm big on that. If we all worked on making our world and our lives simpler, we would all be better off. In some circles complexity and confusion are celebrated, relished, even chased because it's a mark that what those people in those circles are doing is "very important" if no one else can understand it. How ridiculous, not to mention wasteful - something we can no longer afford to be in our economic situation. 

I was shocked to hear the news today that the House didn't pass the "bailout". The Dow tumbled along with stock prices of major companies, and panic is spreading, slowly and quietly. It's unsettling. Someone said to me today that she didn't really ever understand the plan, and it's too bad that it was never explained thoroughly and clearly to the American people. I almost see her point - I do think it was explained by major media outlets like Business Week and the New York Times. You just needed to have the patience to wade through the lengthy articles. And if you don't understand something, ask around and get some help. Don't just throw up your hands and say "forget it." What really happened in the coverage is that no one made it simple to understand if you didn't have a degree in economics or an MBA. 

Simplicity and clarity are absent in many areas of our lives: in meetings at work, in relationships, in the many contracts with very small print that govern our well-being, financially and health-wise. Companies spend a lot of time, effort, and money because of confusion in roles and responsibilities, objectives, and priorities. Simplicity saves a lot of heartache. And we get to simplicity by being real, honest, and straight-forward in our intentions and actions. 

Clarity builds trust and integrity; it makes people feel that they are a part of an effort because they understand it and can clearly articulate it. Being clear and concise is a sign of maturity - it's the responsible thing to do regardless of circumstance. Confusion never pays in the long-run and only delays the inevitable. If only our government and financial markets understood that - maybe we'd find ourselves and our economy in much better shape. 

The image above can be found at http://ozguru.mu.nu/Photos/simplicity.gif

Cash for Trash

Who doesn't need a little extra money these days? Pretty soon you may need to look no further than your trash can. This week, Business Week ran an article on the recycling and waste - an area of our economy that is booming despite the loses being felt in many other industries. Green collar jobs and green collar crime are on the rise, mostly in the area of how to use trash. VC and PE firms are tripping over themselves to invest in new trash technologies, throwing a million ideas at the wall and hoping that a couple of them stick. 

You really want to make some money in trash? Figure out the most efficient way to sort it. As with so many other projects that require a clear, concise reason for being, the value of trash is in the edit. And there isn't a top of the line sorting system out there that does away with ever form of human sorting. What we need is a WALL-E. Actually, we need thousands of them. And some people still think that cartoons are only for entertaining kids! Who knew those folks over at Pixar were moonlighting environmental engineers? 

Business Week has created a video report that reviews some top companies profiting from these trash-ridden times.     

Daylife: a guide to today's news

Jon Fine's article in this week's issue of Business Week discusses a new news provider, Daylife. As a devoted fan of the news and someone who believes that the plethora of new media channels can help to reinvent traditional media, I am intrigued by Daylife's business model. 

Daylife is a news aggregator that splits revenue with news sources based on the link and not on the destination page. Big deal - I can just set up a bunch of Google alerts on topics that interest me and get a nice stack of emails with daily news stories and blog posts on the subject, right? Yes, I could do that. Or, I can just set up Google reader and collect my information that way. Yep, that's an option. 

Here's the trouble: I love Google, but its alert search is far from all-encompassing and it makes no effort to relate one story to another, save for a common keyword. With Daylife, ordinary people like me can build highly-tailored news sites on any topic of interest, or variety of topics,and post them up on my own website. Essentially, I make my own little newspaper, and Daylife scours the enormous world of news on-line to get me the content and package it up for me in a neat format. This customizable feature is set to roll-out some time this summer.   

To be sure, there is tension that exists between traditional media and this constantly morphing world of digital information. Today we get news from a variety of sources as it happens. It has never been easier to be informed on events that happen around the world. And this fact has created a world of complexity and information overload beyond our wildest imagination. While Daylife may not be a quick-fix or even a complete solution, it's a start toward simplification and efficiency. In this case, even a modest improvement packs a punch.

Ice climbing and starting a business

Bill Buxton wrote a great post this morning on Business Week's Innovation blog, http://www.businessweek.com/innovate/. In a conversation with his friend, Roger Martin from the Rotman School, the two friends discussed the parallels between starting a business and ice climbing. They compared the characteristic of people drawn to these two activities, specifically their appetite for risk.

The parallel drew out some interesting comparisons such as training, having the necessary tools and trusting in the process. I would also add that there is risk in everything - even in not doing something. We often consider the risk of starting a business, going ice climbing, etc. though we rarely mention the flip-side: how will our happiness, sense of satisfaction and accomplishment be affected long-term by deciding not do something that interests us?

Will we get to a point in our lives when these opportunities are no longer possible because of other choices we made, and then look back with some kind of regret and sadness that we didn't do something more bold that made us feel alive? While more difficult to conceptualize and put data behind, the point merits some consideration. In the long-run, I've found it's the chances we take, combined with the ones we let pass by, that make up a life.

See Buxton's full post at: http://www.businessweek.com/innovate/content/mar2008/id20080312_205292.htm?chan=innovation_innovation+%2B+design_top+stories