Monday, August 26, 2013

16 Things You Should Do At The Start Of Every Work Day

16 Things You Should Do At The Start Of Every Work Day


The first few hours of the work day can have a significant effect on your level of productivity over the following eight—so it’s important you have a morning routine that sets you up for success.
“Having a good start to the day where you have greater control is critical in achieving better results, and ultimately greater career success,” says Lynn Taylor, a national workplace expert and author of Tame Your Terrible Office Tyrant; How to Manage Childish Boss Behavior and Thrive in Your Job. “How you begin your morning often sets the tone and your attitude for the day. It can also derail or direct your focus. If you remain committed to good morning work habits, you won’t fall prey to feeling unproductive and distracted at the end of the day or week.”
With the help of career and workplace experts Taylor, David Shindler, Michael Kerr, Anita Attridge, Alexandra Levit and Michael “Dr. Woody” Woodward, I compiled a list of 16 things all workers should do when they get to work each morning.
Arrive on time. This may be obvious to most people—but some don’t realize that showing up late can not only leave a bad impression, but also throw off your entire day. “Getting in on time or a little early helps your mindset for the day and helps promote a feeling of accomplishment,” Taylor says.
Take a deep breath. “Literally,” says Michael Kerr, an international business speaker, author and president of Humor at Work. “And do something to focus in on the here and now.” Many people come into work harried because they don’t leave enough time at home to deal with “home stuff,” he says, “and then they’ve barely survived another horrendously stressful commute, and then they dive into the madness.” Slowing down, taking a moment to pause, and creating a routine around centering yourself can work wonders, he adds.
Michael “Dr. Woody” Woodward, PhD, organizational psychologist and author of The YOU Plan, says after the deep breath, give yourself a few minutes to meditate and get settled in.“This is a good way to set the tone of the day,” he says. “Don’t allow yourself to be bum rushed by frantic co-workers lost in their own confusion. It’s not unusual to wake up to a long backlog of e-mails just screaming for your attention. The challenge is taking a moment for yourself before diving head first into your day.”
Woodward says he has worked with executives who mediate 10 minutes every morning before they even think of looking at an e-mail or taking a call. “There is a tremendous power in mediation when it comes to settling your mind. Starting off your day right is really about setting your own tone and meditation is a great way to begin.”
Eat a proper breakfast. “Breakfast truly is the most important meal of the day to help us down the path of not only being more physically fit, but also to have the mental energy needed to tackle your workday,” Kerr says.
Start each day with a clean slate. You may have to attend to projects or discussions that rolled over from the previous afternoon—but try to treat each day as a fresh one, says David Shindler, founder of The Employability Hub and author of Learning to Leap. “Leave any crap from yesterday behind, tap into what’s happening at the outset of the day, get organized and ready or hit the ground running, if that’s what is needed,” he says.
Don’t be moody. You’ll want to pay attention to your mood and be aware of its effect on others. “First and last thing in the day is when emotional intelligence can have the greatest impact,” Shindler says. So if you’re not a “morning person,” try to suck it up and have a positive attitude when you arrive at the office. Grab a second or third cup of coffee, if that’s what it takes.
Kerr agrees. “Your first hour at work can set your ‘attitude barometer’ for the rest of the day, so from a purely emotional point of view, I think it’s an important part of the day,” he says. “One morning grump can infect an entire team and put everyone on the wrong footing.”
Organize your day. The first hour of the work day is the best time to assess priorities and to focus on what you absolutely need to accomplish, Kerr says. “Too many people get distracted first thing in the morning with unimportant activities such as diving right into their morass of e-mail, when there may be a whole host of more important issues that need dealing with.” Make a to-do list, or update the one you made the previous day, and try to stick to it. However, if your boss has an urgent need, then it’s OK re-shuffle your priorities within reason, Taylor adds.
Anita Attridge, a career and executive coach with the Five O’Clock Club, a career coaching organization, says when you prepare your morning to-do list, determine what must be done today and what can be completed tomorrow, and prioritize accordingly. “Also determine your peak working time and plan your schedule accordingly,” she says. “Use your peak time each morning to do the most important tasks.”
Be present. Even if you’re not a morning person, you need to be awake when you get the office. Especially if you’re in a leadership position, it’s critical to be present, mentally and physically, and to communicate. “One of the biggest office pet peeves I hear from employees is about how their immediate supervisor just blows by them in the morning without so much as a smile,” Kerr says. “Taking the time to connect with your team members is essential, and doing the seemingly small things–making eye contact,  smiling, asking them about their night,  and checking in on what they may need help with–helps you as a leader take the pulse of the team, and helps set the tone for all the employees.”
“Once you start checking e-mails, it’s a click away from watching the funny video someone forwarded you, which then sucks you into the abyss: checking the sports scores on line, the news headlines, the stocks, et cetera, and before you know it you’ve been watching a cat play the drums for twenty minutes and, like a poorly planned Oscars ceremony, your entire schedule is already thrown off before you’ve even begun your day.”
Listen to your voice mail. Most people jump on the computer and ignore their phone. “While office voice mail is indeed becoming antiquated as people rely more on personal cell phones, Blackberrys and e-mail, some people do leave voice messages, and if you ignore them, you could miss something important,” Levit says.
Place important calls and send urgent e-mails. If you know you need to get in touch with someone that day, place the call or send the e-mail first thing in the morning. If you wait until midday, there’s a greater chance you won’t hear back before you leave the office. “There’s nothing more frustrating that trying to complete something and not having access or answers from people you need because your day time hours were lost on other matters,” Taylor says. “If you have your questions ready and your e-mails fired off during early peak hours, by the end of the day you should have what you need.”
Take advantage of your cleared mind. “Many people feel that their brains function best in the morning, and that morning is when they are most creative and productive,” Kerr says. “Consider whether you are making the best use of your brainpower and plan ‘high brain’ activities in the morning.”
Mix things up from time to time. Some people like order and are habitual—but others like variety and change. “For them, my advice is to shake things up occasionally by sitting somewhere different (if you have the choice) so you get a different perspective; go walkabout first thing and be visible to people in other spaces, both from a social point of view and as an alternative to picking up the phone,” Shindler says. “Small things that can energize you from the off and can positively impact you and the office dynamics.”
Plan a mid-morning break. “This is the time to assess where you and take time to revitalize yourself so that you can keep your momentum going,” Attridge says.
Check in with your colleagues. “A quick 5 to 10 minute team huddle can also be an effective way for many people to start their day,” Kerr says. Make it a short meeting, with no chairs, have everyone share their top goal for the day, and share any critical information the rest of the team absolutely needs to know, he says. “Doing the huddles helps people focus and more importantly, connects everyone with the team. And by sharing your goals for the day publicly, the odds of achieving them rise substantially.”
Organize your workspace. Clearing off the desk and creating a neat workspace sets a tone for the rest of the day, says Alexandra Levit, the author of Blind Spots: The 10 Business Myths You Can’t Afford to Believe on Your New Path to Success.
It can also help avoid confusion. “While most communications are through e-mails and texts, if your boss or co-worker stopped by looking for you and left a sticky note about a last-minute meeting occurring in ten minutes, and it’s sitting on a mound of mail or papers, you’re already behind the eight ball,” Taylor says. “Also, for many, it’s difficult to think clearly, easy to forget important reminders, and just plain stressful if you feel you’re fighting the battle and the tornado of mail or paper is winning.” Ideally, you’d clear whatever you can out the night before so you can have a fresh start before you even turn on your computer in the morning. But if not, make sure clearing your desk takes precedence over things like checking e-mails and chatting with co-workers in the morning.
Remind yourself of your core purpose at work. “As corny or as trite as this may sound, I’d suggest that you take a moment each morning to remind yourself of your core purpose at work,” Kerr says. Connecting to a sense of purpose is one of the most powerful motivators there is, and taking just a moment each day to reconnect to what truly matters in your job and what you are ultimately trying to achieve and for whom, can help you feel more motivated and help you focus on the priority areas in your work.
Don’t be distracted by your inbox. This one is difficult for most people—but the experts agree that you shouldn’t check your e-mail first thing in the morning. If you do, only read and respond to messages that are urgent. “Priority-scan your inbox,” Taylor says. “Not all e-mails were created equal. Hone your ability to quickly sift the wheat from the chaff and address what must be answered on an urgent basis.”
Attridge agrees. “Only respond immediately to the urgent messages so that you control your morning activities.” There will be time during the day to respond to the less urgent e-mails.
Why must you put off checking e-mails? “For far too many people, e-mail and the web can serve as huge time-wasters and distracters, particularly in the morning,” Kerr says.
If you’re stuck in a routine that doesn't include these must-dos, it may be worthwhile to re-examine your habits and make some changes for enhanced career development, Taylor says.
“Habits are created out of having regular cues that prompt a routine, which then eventually become our habits,” Kerr adds. The morning is the perfect time to create some critical habits that will, over time, become routine and help you be more focused and productive.
“I know my morning routines are critically important. They help me focus and build momentum,” he says. “I’m a big believer in thinking about the start of your day the night before.”
Taylor adds that it’s also helpful not to be too tied to your routines or rigid plans. “Expect the unexpected, allow flexibility, and look at the big picture in what your productivity will look like end of day. You’re likely to be thrown a curve–you might not check off all your initial to-dos. But you can take pride in your ability to handle the unforeseen.”


By: 


Source: Forbes

Friday, August 23, 2013

Why 401(k)s Fail: Employees Are Really Confused


Why 401(k)s Fail: Employees Are Really Confused


Suppose you bought a complicated electronic appliance and you couldn't make heads or tails of the instructions. Would you be more or less likely to use it on a regular basis?
For all of you who've fumbled over VCR or DVR manuals, you know exactly what I’m talking about. When it comes to retirement plans, the situation is far worse.
In a Charles Schwab survey released today, more than half of those surveyed said “401(k) investment information is more confusing than health benefits.”
There’s a tremendous amount of frustration out there in 401(k) land, and it’s not getting any better as Americans struggle to save for retirement. Here are some other key findings of the Schwab survey:
* Nearly half of those polled don’t know what their best investment options are.
* One-third feel a lot of stress in choosing their investment options.
* Ninety percent say they are “on their own” when it comes to funding retirement.
For some reason, the creators of most 401(k) plans forgot to write an intelligent owner’s manual.
There are too many choices. Allocation is difficult. How do you match the right fund combination to your age, risk tolerance and job security? Some employers provide guidelines, but it’s inadequate when presented with a list of more than a dozen options.
The dominant emotion in 401(k) discernment is decision anxiety. We don’t know what the right decision is, so we default to bad choices. How can this be fixed?
There needs to be mandatory workplace education on how to make the best choice.
If employers want to stay in the retirement planning business — and I’m not sure they should — they need to step up to the plate to offer customized advice. If not, we need a broad-based universal plan that’s not linked to employment that stresses automatic saving and prudent allocation. Unless this happens on a nationwide basis, most of us will be stuck with financial appliances we don’t know how to operate.




By: John Wasik


Source: Forbes


Monday, August 19, 2013

To Succeed, 'Solve a Real Problem'

To Succeed, 'Solve a Real Problem' 

TED speaker and CEO of Ecovative Eben Bayer told Business Insider that his Mushroom Tiny House is finally generating conversation in the world of construction and furniture, but it took a while for the Ecovative team to understand how to build momentum around their idea.
"I think early on ... we were two people, getting overwhelmed when we were taking off. What we needed was bodies. We were very willing to get anyone and put them in any role," Bayer said.
"It took us a while to learn that, ‘hey, you’re really good in sales. why are you washing trays outside of the building?’ or ‘you’re a great engineer, why do we have you doing accounting?’ I think if I would have understood that earlier, we could have moved faster in the beginning."
Having received considerable press after his 2010 TED talk, which focused on using organic instead of synthetic materials, the CEO realized that people were also paying attention to his vision for the future, a big vision that starts with the tiny house.
Bayer said the house is the first step in changing an entire industry. 
"What the tiny house for us represents is not this hippie-green living out in the woods type of thing, but a building system in a factory where you’re building full modules of rooms and shipping them to huge complexes," he said.
His company, as well as certain components of the tiny house construction, revolves around the use of mycelium--the vegetative part of fungus. Though unproven in large construction, the organic material sounds promising.
As described on the company web site:
Ecovative uses mycelium (mushroom “roots”) to bond together agricultural byproducts like corn stalks into a material that can replace plastic foam. Mushroom Insulation grows into wood forms over the course of a few days, forming an airtight seal. It dries over the next month (kind of like how concrete cures) and you are left with an airtight wall that is extremely strong.
As described by Time:
It's nontoxic, fireproof and mold- and water-resistant, and it traps more heat than fiberglass insulation. It's also stronger, pound for pound, than concrete. 
Mycelium construction is supposedly cheap, eliminating the need for studs and other construction materials, while providing excellent insulation.
Before any skyscraper builders sign on, however, Bayer has to convince the world that his vision of the future, founded in his work with mycelium, is safe and practical.
"It has all the sort of normal things as a house to keep it from getting too wet and things like that, and our material, when adequately protected from the environment, is quite resilient," Bayer said. "We tested those kinds of properties in the lab and found out it was pretty good. We want to confirm when you do a full size building, you’re still pretty good."
While Bayer would have liked to grow more quickly in the beginning, the six-year-old company has already solidified partnerships with impactful companies like Dell and Crate & Barrel, selling biodegradable packaging.
And despite Ecovative's growth timeline, Bayer maintains the perspective that tackling substantive issues is a worthwhile cause. 
"Solve a real problem, something that’s real and important. If you’re doing that, there’s a greater chance of greater success. Secondly, be tenacious and resilient.”



By: Business Insider

Source: Inc.

Friday, August 16, 2013

How to Get Your Series A Mojo Back

How to Get Your Series A Mojo Back 
For entrepreneurs, a chip on your shoulder can be a good thing says investor Mark Suster. But don't let it spoil your groove.

Last year I wrote a blog post on entrepreneurs with a chip on their shoulders.
I think it’s an important read. A chip on one’s shoulder as in, “Fuck the system, it’s broken and I want to fix it” is exactly the energy I look for in entrepreneurs.
My internal compass says that “country-club” entrepreneurs struggle to make as big of an impact because it’s really hard to totally change a system that you’re part of and have a vested interest in. It’s hard to be a rebel when upsetting the apple cart affects a bunch of people like you.
Take Maker Studios. What I loved about the founding team from day one was that the founders were all people who tried to break into Hollywood and found the system closed. So their view was, “Fuck the system, let’s create a new one on YouTube.”
On the other hand, if the chip on your shoulder is, “I’m not treated fairly by the system, boo hoo, I’m different and that’s why you aren’t helping me” that chip can be a big negative.
I see this a lot in funding where an entrepreneur has struggled to raise money and spends all their time lamenting how lame investors are.
My friend Seth Levine covered this well in his blog post on “Handling Rejection” which you should also read. (and if you haven’t seen 20 Feet From Stardom, which this founder talks about in his letter to Seth, you must. It’s this year’s Searching for Sugar Man. I loved, loved, loved 20 Feet).
Seth responded to an entrepreneur’s request for financing and the entrepreneur wrote back a nastygram. Nothing good ever comes from that - even if you are right.  Seth is one of the most decent human beings in the venture industry so the rant was off base. But even if a VC is nasty a rant email back isn’t the right way to channel your frustration.
The best revenge for rejection is success. The best lesson learned for yourself is self reflection. “If my objective is raising capital and I’m struggling, what can I learn about those who do get funded and how can I improve my odds by changing?”
Chips.
They often come from the experience of being kicked, rejected, shunned, beat up. Then the victim looks around and sees everybody else is having it so easy even though I’m better than they are. So it’s “poor me, the system is fucked.”
But there is another more prevalent emotional swing than the hero to chip angst. And that is the “loss of confidence” vibe. It’s the puppy-who-was-kicked-and-now-walks-around-with-his-head-down syndrome.
And it’s everywhere. I could link to a bunch of blog posts that come across this way but prefer not to single anybody out.
Here’s the deal.
When you started you had the youthful (from a company perspective not age) energy, enthusiasm and naïveté that comes from actually thinking you can change the world. Nobody goes into a startup expecting to fail - we all imagine the next big startup movie is going to be about us. Our inner script is heroic and the struggles are mere battle scars on the inevitable journey to slay King Joffrey.
But reality sets in after the first few battles. You raised your seed funds. You got your tech press and your parents are proud. You old high school friends suddenly reached out on Facebook. You build a team, ship your product, more tech press, more funding.
You get invited to speak on panels. You attend speaker dinners. You have dinner outside at a quarter mile dinner table. You’re on top of the world.
Except that building a successful startup is hard. And back home when you land and come into the office on Monday your staff still knows the truth. Your app isn’t getting enough repeat visitors. Your churn rates are too high. You have an eCommerce company and have to much unsold inventory. Your lead developer quit to join the new hot thing.
It happens to nearly every startup. Nearly every one. I had lunch last week with the CEO of a publicly traded tech company. We shared stories about our past rejections, about our inability to raise money in down markets, about the weeks left in cash, about how we were sure we were dead. We found a way through it. He did even more so than I did.
I had a similar chat with Matt Coffin of LowerMyBills (blog post & video here) where he tells his similar story. Nearly bankrupt. Begging for money. And a few years forward and he sold his company for 100′s of millions of dollars.
My point...
We’ve all been there--every entrepreneur. You start off by believing your own hype, drinking your own Kool Aid.
And then you meet reality.
And some entrepreneurs can maintain their enthusiasm, optimism and energy: Working hard and staying positive.
But that’s hard.
Many still put in the hours but you can see the stress in their eyes and hear it in their voices. In stead of telling people how they are going to change the world they start to show self doubt. They qualify every initiative with, “well this didn’t prove viral adoption last time so I don’t expect a silver bullet this time.”
Sometimes the silver bullet does come. Often it doesn’t. Usually success is about working hard enough and long enough and eventually getting a lucky break. Another meeting last week with a different founder who sold for 100′s of millions and is not an active angel, “Startups are hard. I don’t know if I should keep investing in them. So many are struggling I feel like all I’m dealing with are problems. I wish more young people understood what a role luck plays into a huge success.”
And of course--the harder you work, the luckier you get.
But in order to make the magic work another few months, years, you need to keep up blind belief in yourself. Confidence is THE single most important attribute in being able to attract money, hire staff, stave off creditors, get press, do biz dev deals, close big sales and one day sell your company.
Confidence.
That magic you had at your Series A.
Mojo.
You need to dig deep.
As a friend who is running a startup focused on “the mind” said to me (my words), “why is it that it is accepted wisdom that atheletes need to visualize and focus on positive energy and confidence and when we say this to business people they think it is self-help, airy fairy stuff?”
He’s right.
Mental toughness matters. A lot. Confidence matters more.
I personally am not prone to depression or substances but I know many who are. Depression isn’t talked about openly enough in our industry. Nor is general mental well being.
I wish more startups would get personal coaches so they could let out their angst to neutral people - not staff, not investors. It’s why YPO is such an important organization.
Please.
If you’re in a startup that has struggled know that you’re not alone - we’re all naked in the mirror in the morning.
If you’re in really bad shape (10% of you) - seek help. Life is more important than your startup and there is always another day. Your reputation won’t suffer if your business does. You can evolve.
If you’re in the norm (85% of you) please think about how to let out your steam, talk to others, get mentors, re-find the energy / confidence, or bring in new staff who can help re-energize you and/or your business.
If you plan to raise more money, improve your business ops, or sell your company you need your Series A mojo back. You need to rekindle that feeling, rediscover that belief in you and your company’s mission.
If you’re crushing it (5% of your) mazel tov.
And finally …
Since I have this conversation private all the time …
No. I’m not talking about you.
post script: I wrote this in one sitting before racing out the door on a long-weekend vacation with the family. No edits / no spell check. Apologies for any rambling, incoherence or typos. I may try to come back and edit later but want to get back to the family!



By: Mark Suster



Source: Inc.

Monday, August 12, 2013

Total Terrified of Public Speaking? 4 Tips to Cope

Total Terrified of Public Speaking? 4 Tips to Cope 
If giving a presentation or public speaking strikes fear in your heart, I'll share a few of my favorite tips for how can you face your fear head on and speak like a pro in public.

Flashback to third grade and you have to get up and give your first book report in front of the entire class (even that cute guy or gal in the front row). Your heart is beating so hard you can hear it in your ears. Your palms are sweaty and your knees are knocking.
If giving a presentation or public speaking makes you feel like this, join the club, you're not alone. In fact, I think Jerry Seinfeld has one of the best quotes out there about this, "According to most studies, people's number one fear is public speaking. Number two is death. Death is number two. Does that seem right? That means to the average person, if you have to go to a funeral, you're better off in the casket than doing the eulogy."  
Dr. Michael Telch of the Laboratory for the Study of Anxiety Disorders in the Department of Psychology at The University of Texas at Austin says that for most Americans, "The biggest fear is public speaking, with 15 percent of Americans experiencing a dramatic fear of it." Humor and statistics aside, how can you face your fear head on and speak like a pro in public? I'll share a few of my favorite tips:

Know Your Audience

If you're asked to give a presentation, the most important information you should get ahead of time is about your audience. What's their background, how technical are they, what industries or companies do they come from? By knowing who your audience is (or isn't), you can tailor your content to them. By doing this, your presentation, regardless of any nerves you may be feeling has a better chance of resonating and adding value for your audience and they will appreciate you for it. As an attendee, there's nothing worse than paying a lot of coin to attend a conference and have presenters that don't know who they are speaking for, or to. One great trick?  Get there early and talk to a few folks to get to know them a tiny bit then you'll have someone to connect to in the audience.

You're the Expert

Remember, people are attending your presentation to learn something. And, you know your stuff or you wouldn't be up there. Avoid the rabbit-hole thinking that the audience is out to get you and make you look stupid. They are there to gain knowledge so give 'em what they came for. By knowing your audience, and your stuff, you're halfway there.

Be Properly Prepared

Remember the saying, "Being properly prepared prevents poor performance"? I'm a firm believer in this one and definitely advise investing the time to put together a solid presentation.
  • Create your own slides: It helps if you're the one creating the slides and notes so you can use examples that you and your audience can relate to. When you have a connection to the examples you use, it makes telling the story (or the presentation) so much more natural and easy.
  • Use lots of visuals: Spend quality time creating an engaging deck (remember to include lots of great visual examples because no one likes to look at an all text preso these days.)
  • Rehearse! Spend an equal, if not greater amount of time practicing and rehearsing your presentation. Find a quiet place and do as many dry runs as you need to. Then find someone willing to listen and provide you constructive criticism and do your presentation for them.
By feeling prepared you can lessen the factors that will make your nerves feel frazzled come show time. You can also get coaching through a group like Toastmasters International which can really help you gain a sense of confidence and ease.

Have Fun

No matter how nervous you feel, you will get through it so it's important to remember to let yourself have some fun and allow your personality to shine through. You don't want to be some stiff suit up on a podium that alienates your audience.
You can come up with your own ways of coping, from the old school imagining the audience in their underwear, to a cool trick I saw Tyler Willis from Unified do at one of our VerticalResponse user conferences a few years ago; Tyler brings his smartphone up to the podium with him and before he begins speaking, he tells the audience he's going to take a picture of them. He then explains that if, at the end of his speech, he gets three questions, he'll reveal why he took the picture (Willis explains at the end it's because his parents don't quite get "social media" and that people pay to hear him speak so he sends them the pictures). He not only gives himself a few seconds to get comfortable and have a little fun, he also breaks the ice and draws his listeners in from the get-go. 


By: Janine Popick


Source: Inc.


Friday, August 9, 2013

7 Financial Skills Every 20-Year-Old Needs To Learn

7 Financial Skills Every 20-Year-Old Needs To Learn


When I read 20 Things 20 Year Olds Don’t Get, by Forbes contributor Jason Nazar, I immediately imagined parents frantically forwarding the post to their kids. Baby boomers, myself included, want our adult children to be successful in the workplace. But there’s an ulterior motive, as well … we want to retire someday!
Nine out of ten baby boomers provide some kind of financial support for their adult children according to an Ameriprise Across Generationsstudy. Corporations worrying about a “retirement brain drain” may be doing so needlessly, since that won’t happen until boomers deal with the “money drain” in their own households.
When my 23-year-old son, Rick, was laid off from the job he landed right out of college, I was disappointed for him but not really worried. With the business’s billable hours dwindling for months and my son being the low man on the totem pole, he saw the layoff coming. When I got the call from him with his news, I was happy he’d gotten some great work experience from a top-notch consulting firm.  What I didn’t worry about was money.
Unlike most Millennials, much less most Americans, he had six months of expenses in the bank. Granted, he was lucky since he only had one student loan to pay back while the average college student today is graduating with an average of $27,000 in debt. However, the most important thing Rick possessed was some serious skill when it came to managing his finances. You see, he had been in charge of his own cash since he was 10 years old. Because he was prepared, the layoff was a huge disappointment, but not a financial crisis—for him or for me.
Believe it or not, all Millennials can be as prepared as Rick was for financial stumbling blocks. To get there, what exactly do 20-year-olds need to “get” when it comes to their finances? 
Here are seven financial skills or tools that can help them thrive going forward:
Be tight-fisted with your dollars. A single dollar can have incredible value. When was the last time you got fast food at the drive-thru? It may have been convenient, but it certainly wasn’t inexpensive. When you add grabbing coffee in the morning, a smoothie, fast food and a candy bar when you’re filling up your gas tank, these seemingly insignificant items can easily add up to $20 a day, $100 a week and $400 a month. That’s a car payment.
Obtain and keep a good credit score. A strong credit score can make all the difference between securing the apartment you want and losing out in a competitive rental market. In our case, we missed the boat on helping our kids establish credit early. This hampered them later when they wanted to move into their first apartments and get competitive interest rates when buying their first cars.
Parents can help their kids establish credit in several different ways. You can set up a joint credit card—for a specific use, like gas, if you want—while they are in college and pay the bill in full each month. You can also add your 20-year-old to an auto loan when purchasing a car. That way, when you make the payment each month, it will help build a positive credit history for him or her.
Helping your kids build credit early can help you avoid having to co-sign for a loan or apartment later. 
Keep your overhead low.  Subscription model pricing can help consumers keep upfront costs down. This can be a good thing as long as it doesn’t get out of hand.  Sure, it’s nice to listen to Pandora without commercials and it seems like a bargain at $3.99 a month. But would you really shell out $48 if you had to hand over cash from your wallet just to have commercial-free internet radio for the year?
Consider this line of thinking with all recurring expenses we have today: cable TV, cell phones with data packages, satellite radio and internet. For entertainment we have Netflix NFLX +0.94%, Hulu and Amazon Prime. These “necessities” can easily run upwards of $250 a month if you aren’t careful. Cut the ones that aren’t truly “needs” to keep your overhead low.
Switch to frugal mode.  The ability to kick into “super-saver mode” for a stint is vital when unexpected expenses come up or income suddenly drops. This could involve skipping taxis and taking public transportation, bringing PB&J sandwiches to work, stretching hair care products, switching to basic cable and “go phones,” getting a roommate, ride sharing, going to free concerts, and skipping restaurants to have friends over instead (with a dish in hand)—whatever it takes to make ends meet. Frugal mode helps you avoid resorting to credit cards in a crunch. 
Cook. Dining out can be expensive. People who don’t cook pay top dollar for meals.  Cooking and financial planning may not seem like they go together, but people who cook can eat very inexpensively. You don’t have to be JamieOliver or Gordon Ramsay, but if you learn to cook three or four meals you enjoy and make them regularly, you can save thousands of dollars a year on food costs. Buy your ingredients on sale or in bulk. One meal turns into three when you make enough for another dinner and lunch the next day.
Choose the right roommate. What are the characteristics of a perfect roommate?  At the top of the list is someone you can rely on to pay rent on time every month. Then you’d want someone who is clean, keeps to him- or herself and is never around! Before my kids were born, I rented out a room in my house to medical residents doing their rotations at the University of California, Davis Medical Center. Medical students were perfect roommates because they paid their rent on time and were interesting to talk to when they were around (which wasn’t often).
Sharing your space can be a huge boost for the budget, but you have to pick the right person or it can be a nightmare.  If you think about it as a business arrangement rather than living with your best friends, you have a better chance settling into something sustainable. 
Sock money away.  Saving money by skipping a latte or bundling your cable and internet is one thing, but putting that savings in the bank and keeping your hands off it is another. Socking away money that you don’t touch is paramount to success.  There are a couple of ways to ensure that this happens: You can set up an auto-draft from checking to savings, open a savings account at a different bank so you can’t easily transfer funds between accounts, or skip the debit card for your “don’t-touch” savings account. Do whatever it takes to make the savings stick.
Unfortunately, most Americans live on the edge when it comes to money. According to recent research by Bankrate.com, 76% of Americans are living paycheck to paycheck, and a study from CashNetUSA reported that 46% of people surveyed had less than $800 saved for emergencies.
This lack of financial stability makes us all vulnerable. When an emergency hits and we get a call from a family member for help with a rent deposit or moving expenses, are we going to turn them away? Of course not. We are going to help, but those funds have to come from somewhere. When 20-year-olds can manage their cash, are able to borrow money at decent rates and live on 75% of their income by doing the above, that means financial security not just for them, but for the entire family.



By: Nancy Anderson


Source: Forbes

Monday, August 5, 2013

5 Transitions Great Leaders Make That Average Leaders Don't

5 Transitions Great Leaders Make That Average Leaders Don't


The secret to leadership is there aren’t any real secrets. The best leaders have simply gone to school on improving their tradecraft. While the capabilities possessed by the best leaders might seem otherworldly to many, they are merely the outcome of hard work, experience, perspective, and yes, a bit of luck. The best leaders have just learned to make certain transitions that less effective leaders curiously remain blind to.
Some leaders hit their stride early in their career, others find their path later in life, and regrettably, far too many leaders never seem to get their footing. Great leaders discover pivot points and transitions that create a certain rhythm and balance, while average leaders tend to be somewhat tone deaf and awkward. We all recognize great leadership when we see it, but many fail to see what it is that actually makes the leader great. Following are 5 key transitions great leaders make that average leaders do not.
Find Purpose– Purpose is the one thing all great leaders have in common. Great leaders have a clearly defined purpose, while average leaders just show up to work. Purpose fuels passion and work ethic. It is these characteristics that afford great leaders a competitive advantage over those who don’t understand the dynamics of this linkage.
The best leaders recognize a common purpose, shared values, and aligned vision are the hallmarks of any great organization. These three elements set the foundation for a sustainable culture. Leaderswho fail to bring people together around these three constructs sentence their company first to the chaos of mediocrity, and ultimately to the pain of obsolescence. Great leaders create culture by design, while average leaders allow culture to evolve by default.
A lesson lost on many is profit doesn’t drive purpose, but purpose certainly drives profit – great leaders understand this; average leaders do not. Leaders who are driven by profit will find they may be successful for a season, but they’ll eventually come to realize a pure profit agenda is not sustainable over the long haul. Great leaders make the transition from profit to purpose and are handsomely rewarded for doing so. A unified purpose can endure all things.
People First– Leaders are nothing without people. Put another way, people will make or break you as a leader. You’ll either treat them well, earn their trust, respect and loyalty, or you won’t. You’ll either see people as capital to be leveraged or humans to be developed and fulfilled. You’ll either view yourself as superior to your employees, or as one whose job it is to serve them, learn from them, and leave them be better off for being led by you.
The best leaders don’t put people in a box – they free them from boxes. Ultimately, a leaders job isn’t to create followers, but to strive for ubiquitous leadership. Average leaders spend time scaling processes, systems, and models – great leaders focus on scaling leadership.
Develop Awareness– Great leaders are self aware, organizationally aware, culturally aware, contextually aware, and emotionally aware. They value listening, engaging, observing, and learning over pontificating. They value sensitivity over insensitivity and humility over hubris. Leaders who come across as if they know everything haven’t fooled anyone – except themselves.
Great leaders avoid the traps, gaps, and blind spots average leaders so easily step into. Leaders who choose to live in the bubble of their own thinking rather than understanding the benefits of seeking others input and counsel make things harder on everyone. The willingness to allow your positions and opinions to be challenged is a sign of strength not weakness. I’ve often said the most powerful and overlooked aspect of learning is unlearning. Leaders never willing to change their mind ensure only one outcome – a lack of growth and development.
Shun Complexity– Complexity is a leader’s enemy not their friend. Great leaders live to eliminate or simplify the complex, while average leaders allow themselves and those they lead to be consumed by it. Complexity stifles innovation, slows development, gates progress, and adversely impacts culture.Complexity is expensive, inefficient, and ineffective.
I’m not minimizing the fact we live in a complex world, and I’m not suggesting that profit cannot be found in complexity. But great leaders understand opportunity and profits are extracted from complexity through simplification, not by adding to the complexity. While many think it was Einstein who said, “Simplicity is the ultimate sophistication,” the statement was actually borrowed from Leonardo de Vinci – both gentlemen were correct.
Get Personal– If I only had a nickel for every time I've heard someone say, “It’s not personal; it’s just business.” Great leaders understand nothing is more personal than leadership, and they engage accordingly. The best leaders understand a failure to engage is in fact a failure to lead. Average leaders remain aloof and distant – great leaders look to know and care for their people.
Average leaders are viewed as business executives, the best leaders are viewed as great human beings.The best leaders understand it’s not a weakness to get personal, to display empathy, kindness, and compassion – it’s the ultimate strength. Peak performance is never built on the backs of others, but by helping others become successful. Treat your people as if your life depends on it – it does.
The reality is anyone can lead, but very few lead well. Will you just show up for work and check the box, or will you lead well? Thoughts?


By: Mike Myatt



Source: Forbes


Friday, August 2, 2013

How To Stop Obsessing Over Results And Embrace Happy Accidents

How To Stop Obsessing Over Results And Embrace Happy Accidents


There’s a constant flow of ephemeral words that the tech community latches onto in their daily conversation and then swiftly toss after they've juiced it to a pulp. Serendipity has been overused by poets for centuries and abused by location based services a few years back. Recently the prosaic term seems to have made a resurgence as ‘planned serendipity’ by internet pundits in newly authored books and as conference themes.
Despite my cynicism, I admit that their enthusiasm and marketing wiles got my attention and I've been noodling on the concept of planned serendipity or manufactured luck since it re-emerged in the collective. The practice interests me for a few reasons. One, I pay a lot of attention to start up stories with at least two founders because I’m always curious how they found each other and how they came up with the idea. Many times you hear the founders explain, ‘we were lucky and happened to have been doing X when Y occurred.’ Two, I’m considering a tech start up myself and wondering how I might bring more serendipitous experiences into my business. Lastly, I’m wondering if serendipity truly can be planned or manufactured, then how to activate it on demand.
Serendipity – Only for the Attentive and Clever
A few months ago I experienced what I believe to be a serendipitous moment. I was participating in the Rhizome’s Seven on Seven conference with an artist I was paired with named Cameron, and we were sitting in a drab looking conference room with no windows in a Venture Capitals’ office that we were assigned to, pondering how to get our hands on a 3D printer for our project, when we decided to get coffee. We ran into one of the VC partners while filling our coffee cups in the break room and he asked us how our project was going. We answered him sort of truthfully, chatted for a bit and just as we were leaving and going back to our room, I half jokingly asked if they had a 3D Printer we could use for our art project. The VC man smiled and replied that they funded the 3D printing company,Makerbot, and had some in a conference room down the hall. Wide-eyed, we followed him down the corridor and into a conference room that had windows with a view of NYC and two Makerbots ready for us to fire up. Right before that exchange happened Cameron and I were contemplating quitting the whole art project. I’m not sure if you would label this experience luck, a happy accident or something else. All I know is that if I hadn't said something, that exchange wouldn't have happened.
Some people in my circles are convinced that I know everyone in LA. That’s obviously not true, but because I blog a little bit about things I’m passionate about; women in tech, the LA tech start up scene, the Maker Movement, I’m constantly getting contacted by people and introduced to potential conspirators who are inspired by or can relate to what I’m interested in and in pursuit of. The network of people with related interests that is being built up means that my chances for serendipitous moments increases exponentially each time that I make a connection. Some connections bring stronger and more beneficial happy accidents and some more quantifiable than others. I spend 90% of my time building up relationships that are tied closely to my interests and work so that I am in contact with the right or relevant people. The other 10% are reserved for high school friends and people who make me laugh.
One of the most quantifiable serendipitous experiences that I can share is the time when we were trying to find a permanent home for the LA Makerspace. The planning committee met regularly every couple of weeks and invited people who wanted to participate in exploring possibilities. Someone that joined us happened to be working on a project where they were building out a maker-like community and were able to grant us some free rent. It was more than what we were striving for and we felt lucky. That opportunity wouldn't have presented itself if we didn't build up a carefully curated community of people that collectively manifested a fortunate stroke of serendipity.
‘Scientists are not passive recipients of the unexpected; rather, they actively create the conditions for discovering the unexpected and have a robust mental toolkit that makes discovery possible.’ – Kevin Dunbar and Jonathan Fugelsang
A couple of weeks ago at the YxYY conference in Palm Springs, the organizers and attendees relayed various serendipitous moments that occurred. As an attendee I did not experience any myself, unless you consider the idea some of us had to make a Bro Bar, an energy bar for bros, to be a happy accident. That being said, the seeds could have been planted at the conference and the opportunity forthcoming. Time will tell.
What I have learned in my exploration of serendipity, is the importance of carefully choosing your connections and always nurturing them. Having 5000 contacts on LinkedIn isn't going to automatically bring you the serendipity you hope for. You need to decide who you want to have in your inner circles and continuously build those relationships up. I don’t necessarily believe in luck, I think that you make your own fortuitous moments by surrounding yourself with the right people and creating conditions in your life for opportunities to more easily come across your desk. Whether you believe in the concept or not, you can’t deny the simple fact that it’s not the collection but rather the careful curation of your network of associates that share your beliefs and interests that is the magic sauce that allows you to tap into greater possibilities, and those opportunities can sometimes come out of left field when you least expect them.
One last piece of advice that I have come to understand, you need to be very careful that you aren't too focused on your goal or a desired outcome because that is when you may miss important discoveries or opportunities; if you are adhering too strongly to expectations you may actually obstruct serendipity altogether.
To planned serendipity and beyond!



By: Tara Tiger Brown


Source: Forbes