Starting a Business: The New 'Safe' Career?

Starting a Business: The New 'Safe' Career? 

Is it really that big a gamble to start your own business? Compared with other options, maybe not.

You know the stereotypical image: An entrepreneur risks it all in a gamble to get a business started. It's tremendously hard work--but is it really all that risky? Sometimes what seems safe is, in reality, far riskier.

The "Safer" Options

José María Cobián, an experienced entrepreneur in Spain, recently wondered about the number of university graduates in his country thinking of trying for a public sector job. About 60% are considering whether to take the qualifying exam. Only 1.6% entertain an entrepreneur's path.

And yet, according to research that Cobián quotes, five years out, only a fifth of the people who actually pass the exams get jobs in the public sector, and the annual success rate in the examinations is only 2%. Those numbers came before the current austerity measures that will mean fewer positions and less certainty. Public service is hardly more reliable and welcoming in the U.S., where government keeps trying to downsize and there is tremendous contention between management and labor. Just look at the turmoil in the Chicago public schools.

Are big corporations safer than starting your own company? For years, when asked about the dangers of working on my own and not as a corporate employee, I've always answered that given the economic climate and potential for layoffs, it seemed to me that full-time employees were the ones at risk. All their eggs are in one basket.

Where the Jobs Really Are

Look at the hiring trends. New jobs aren't increasing at a breakneck pace, and the number of people who are disappearing from the unemployment rolls because they've given up on finding something has been on the increase. Furthermore, how many companies scale back on benefits and pay over time? What good is it if a large company can retroactively limit your retirement benefits, health care coverage, or other important aspect of living?

As Cobián also points out, if you want a new opportunity, small companies are largely the way to go. According to the Kauffman Foundation, young firms less than five years old are the real job creators in the U.S. In fact, at least in 2009, if you factored out young companies, the net number of jobs decreased. Small businesses can do this because they're growing and need the help.

Job security is long gone in the world. Big companies are shrinking their workforces where and how they can. So which is really riskier: trusting your fate to a corporate entity, or taking matters into your own hands so no single employer/customer can undermine your financial welfare? If you're like me, the answer is clear.

By: Eric Sherman

Source: Inc.

How a Creative Hobby Can Do Wonders For Your Business

How a Creative Hobby Can Do Wonders For Your Business

A new intern here recently asked me, "What's the one item that you can't work without?"

Can't is too strong a word, but I did get something a few months ago that is helping my work more than I expected: an acoustic grand piano with a robot crammed into it, the Yamaha Disklavier E3.

Am I a musician? No. Do I know how to play the piano? Not exactly. Do I use the Disklavier at the office? No way. So how does it help me work? Well, here's the thing: It's an acoustic grand piano. With a robot crammed into it.

I spend about an hour a day sitting in front of the piano, teaching myself music theory and trying to play the sad theme from the end of the Incredible Hulk '80s TV series. Trying to learn a big new skill, at the age of 41, is exhausting. And astonishingly brain stretching.

The Disklavier presents a completely new axis of learning. You can play, see your mistakes played back, download lessons and videos, play again. You can feel synapses firing and new connections being made. The best part is being completely stymied by a particular segment, giving up in frustration, and then coming back the next day and playing it through on the first try.

When you learn a new skill, you learn new patterns. And then you start seeing these patterns interwoven into the familiar world. The impenetrable becomes less so. Things you always knew, you now know better.

For instance, many musical pieces follow a common structure: a short preamble to set the stage, followed by a tonal phrase or "tonic," then elaboration of a theme, and finally a return to the tonic at the very end. That return makes the piece feel psychologically complete. It provides a satisfying finish.

I never really grokked this until I started fiddling around on the piano. Now I see it everywhere: in speeches, in magazine articles, in successful software design, in compelling presentations, in a well-planned dinner menu. And now that I see it, I can make use of it. A small increase in my musical ability--from nonexistent to imperceptible--has given me a bigger lever with which to try to move the world.

Plus, I feel the effects at the office. I'm smarter than I was a few months ago, with new ways of seeing things, a new mental vocabulary, and greater cognitive dexterity. I feel more creative than ever, and I get more done every day.

For example, one of our products uses audio tones to send information to nearby mobile phones. We thought, If our software is going to make sound, why shouldn't it be musically correct? So, one day, a bunch of Evernote employees sat around the piano to shape the tones into a pleasing melody. It's a tiny improvement, but we wouldn't have thought of it before. And your life's work is built up one tiny improvement at a time.

My parents are both classical musicians, and my father has been tuning and repairing pianos for the past 30 years, so I grew up completely surrounded by pianos (well, mostly piano parts) and music but never learned to play. My parents tried to teach me but gave up when I was 4. They claim it was because I was surprisingly stern and persuasive about how much I hated piano lessons, even at that age. I claim that they shouldn't have been daunted by a 4-year-old. We digress.

I think everyone can benefit from having something simple and elegant and beautiful occasionally lift the mind out of daily routine, massage and stretch it a little, and then put it back. It could be a favorite pen or a nice view or a crossword puzzle or a well-worn set of juggling clubs.

By: Phil Libin

Source:Forbes

Startup Craze In The UK

Startup Craze In The UK

Sources in the UK are claiming that the tech startup scene in that country is in need of personnel to fill several thousand positions. Many eager to jump into those jobs have no experience in startups at all.

Tech startup scene job fair, Silicon Milkroundabout, along with job search engine Adzuna, released figures showing that tech hubs in the UK are advertising for 3,229 open positions, which is a 22% increase over last year, according to a report. The majority of those jobs are in London, followed  by Cambridge.

According to Silicon Milkroundabout, 67% of those polled in a survey said they could easily be persuaded to join a startup, while 49% said they had no prior experience working in a fledgling company. 

What’s even more interesting is that 72% of those polled were fine with the idea of not having a high salary and 97% were most interested in learning opportunities.

These numbers could mean a couple of things. First of all, it’s possible the relentless attention that high profile tech startups have received has inspired a generation of job seekers to jump on board. Startups are sexy and tech is hot; they exist in a fast-moving world where a good idea can save the day and potentially develop into an intense adventure with a lucrative return. It’s a playing field that rewards the innovative and energetic (and ingenious) among us. Who wouldn't want to, for at least a while, be part of that scene?

It’s reassuring that most tech job seekers were willing to forgo high salaries (a fact likely to be exploited by hiring companies) and that the chance to learn topped the list of what’s most important in joining a startup endeavor. This shows that this workforce has its eye on the future rather than scanning for a slightly higher payout snatched as quickly as possible. Foresight, and the understanding that building a career (like building a product) takes time and attention, patience and perseverance; is evidence that those looking to fill the UK’s 3,000+ tech startup spots (over 1,100 of those are for developers) are taking a relatively shrewd approach to entering the game.

That said, it could be that all of these inferences are off and the reality is that the workforce is more driven by desperation and disillusionment than anything else. Perhaps employment prospects are so weak or hazy for many that taking a position at a startup over more established firms seems far more doable, that proving one’s self to a larger, older company would be fruitless, given competition for jobs. It could also be that the few shining mega-success stories of tech startups turned multi-million or billion dollar juggernauts is undeniably compelling and that the market is flooded with more aspiration than actual talent.

If I’m honest, I suspect there’s a little of all of these possibilities at work here. What do you think? Comment below.

By: Kartsen Strauss

Source: Forbes

Three Keys to Business Success: Focus, Focus, Focus

Three Keys to Business Success: Focus, Focus, Focus 

Entrepreneurs can’t resist shiny new things. The allure is intoxicating.

As an entrepreneur, you’re built to dodge and weave. You’ll stop at nothing to make your vision work. Every opportunity looks easy. Every new idea could be Google.

Which brings me to the old movie, “Poltergeist?” Remember the part where the little stout lady said, “Caroline, do not go into the light. Stop where you are. Turn away from it. Don’t even look at it”? You too should heed her counsel. 

Focus on your core. Resist the light of the shiny new thing. Focus is severely underrated and incredibly hard for entrepreneurs to embrace.

Let me tell you a cautionary tale about being Hooked on Chinese.

Before starting my current company, I was the CEO of Hooked on Phonics. It was an incredible brand with a failing business model: old-school infomercials. I was brought in to remodel it into a consumer products and media business and take the product to retail. 

It was a great idea. It worked. We built Hooked on Math. We built Hooked on Kindergarten. Neither was a pivot. These were simple extensions within our wheelhouse.

Then we built Hooked on Baby, Hooked on the Bible, and Hooked on Chinese. We decided we could build our own stores. We even decided to get back into infomercials. Each shiny light looked better than the one before it.  

As a result, before we could really get our legs and prove the core business, we dove into entirely new markets and distribution systems. Chinese was the beginning of a slippery slope that decreased--rather than increased--shareholder value.

And so it was that I learned (the hard way) the importance of keeping your focus.

At 2U, we build online degree- and credit-bearing programs. Our programs are powered by a proprietary system that enables high-quality content delivery, live classes, white glove support, and high-touch training.

There’s no reason we shouldn't try it elsewhere, right? It’s pretty clear K-12 could use our help. What about corporate training?

No way. Too many colleges need our help. There are too many great degree programs to offer. And, frankly, growth isn't a problem.

Two years ago, the U.S. government said, “We’d like you to give us a bid for a 2U system for an agency of ours.” The size of the potential deal gave us pause. My CFO looked like Dr. Evil with his pinky to his mouth.

We said no. It was the right call. Since then, we've created a series of great new businesses within our core.

Focus on delivering innovation within your business every day. Sergey Brin can afford to work on a self-driving car and Elon Musk can focus on the hyperloop -- they built Google and PayPal. First, make your business sustainable; then you can wander.

By: Chip Paucek

Source: Inc.

3 Silent Killers of Successful Businesses

3 Silent Killers of Successful Businesses

I've had the unfortunate experience of walking over the metaphorical ruins of many businesses--previously vibrant, profitable, and growing--which simply expired over time without anyone seeming to know precisely why, or how, it happened.

While every business's story is different, I have noticed three recurring, silent killers that can lure a founder/owner or business leader first into numb complacency, then into eventual demise:

1. Hubris.
Marshall Goldsmith said it all in the title of his excellent book, What Got You Here Won't Get You There,  even the most successful executive (especially the most successful executive) doesn't necessarily have the precise skills today for the challenges of tomorrow.

When was the last time you had a massive change of mind about a fundamental way in which you do business? When was the last time a coach or a mentor so challenged you about your management and leadership skills that you lost sleep? When did you last scrap a much-loved process, or system, or meeting, or process because its time had passed? When was the last occasion when someone told you you were flat-out wrong about something important-- and they were right?

If the answer to any of these is 'So long ago I can't remember', then chances are you're resting on the laurels of past success. Can you hear the water simmer?

2. Laziness.
Business is hard. As my mother used to tell me, "If it was easy, everybody would be doing it." Problem is, success often leads us to forget this fact, and, convinced we've found the 'magic formula', we start to operate on autopilot.

Then, before you know it, an 800-lb gorilla wanders out of left field and all our best-laid plans disappear instantly.

Business is hard, and that means as successful business owners, we need to not just work hard, but to think hard-- about everything. Many of the business owners I've met who had their long-nurtured, successful businesses disappear from under their noses did so simply because they didn't think hard enough, or long enough about what, and where, and by whom their business could be threatened.

If you can hear the water reach a low boil as you read this, try using the PESTLEframework to re-ignite your 'hard thinking'.

3. Absenteeism.
Of all the silent killers, this is the hardest to watch: A business leader reaches a level of success that attracts more and more opportunity for them, to the extent that their activity levels become so high, that instead of doing one thing well, they're now doing multiple things poorly.

It's particularly painful to watch for two reasons: First, it happens from the best of motives. Joanne is an incredibly effective leader, so she gets asked to do many things (speak at conferences, sit on boards, champion projects), and her sense of wanting to give back means it's hard for her to refuse. Secondly, it's hard for the individual concerned to see what happens next - her level of performance drops as she simply cannot be fully present, fully involved, fully focused on all she now has on her plate.

And so, inevitably, the water begins to simmer, then boil, as Joanne loses her edge, drops the ball, misses important facts...

Woody Allen said 95 percent of success is showing up. What he meant, of course (which is apparent if you know anything of his career), is showing up in every sense of the word-- physically, yes, but also mentally and emotionally.

If you've become habitually late for meetings (or habitually have to leave early); if you never have time to read the background data on an important decision; if you constantly find yourself telling people to 'get to the point', then you're not showing up. Not in any sense that matters.

Can you feel the water boiling?

By:  Les Mckeown

Source: Inc.

3 Simple Steps to Banish Negativity

3 Simple Steps to Banish Negativity

Do you ever feel out of control of your world? A client leaves unexpectedly. Your internet goes down when you're on deadline. Your team keeps missing deadlines. Sometimes it feels like you're living in the perfect storm, doesn't it?

But even in the most frustrating of times there is something within your control that can have a huge impact on your life: your attitude. The attitude and energy that you have in any given situation, and toward life in general, is what determines your actions. It also influences how others respond to you and how you feel about yourself.

Our attitude and actions are dictated by our perspective and interpretation of reality. If you have a negative, pessimistic disposition and believe that life is filled with nothing but problems, you will make decisions that draw more difficultly into your life.

An individual with a more positive, open-minded disposition is likely to draw desirable events into his or her life. These folks will try new things, take emotional risks, and learn from and enjoy the outcome. They are more likely to find solutions, shift gears as necessary, and see the upside of most situations. They also get more support from employees, peers, friends, and family.

Which disposition do you generally lean toward?  If your attitude is most often negative, think about how you typically feel, both emotionally and physically. Could your world be better? Could your health be better? How about your stress levels, could they be lower? Yes? Perhaps it's time for a change.

But how quickly can that change occur? And how much work will it take? You may not be able to flip a switch and choose to have a positive attitude toward everything. But you can make a conscious choice to slowly reduce your pessimistic tendencies and opt for a sunnier outlook on life. And just like an exercise program, it will take determination and dedication.

That's right, we have to exercise our minds just like we do our bodies. The more we work toward change, the better our results. It may take a while but you can shift your attitude to create more desirable results in life and business. You can take back control--of yourself.

Here are three simple steps to a better outlook (it's worth the work):

Reframe your thoughts.

When you find yourself thinking things like, that won't work, or I never catch a break, ask yourself: Is that really true and do I believe it with all my heart?The answer is usually "no." Choose a prevalent, negative thought and make a list of reasons why it's not true. You will begin to see that your perspective is not based in reality. Now reframe your thought to the next best option. Instead of, that won't work, try maybe there is a way I can make that work. You'll find things working out much better.

Reframe your comments.

When a negative statement is on the tip of your tongue, change the shape of it. People naturally respond defensively to negativity, even if it's not directed toward them. Instead of telling someone how bad your day is, ask them how their day is going. Or choose one or two things about your day that feel good to you and talk about those. Soon you'll find yourself focusing on the positive aspects of a situation to shift your mind away from the negative. It works wonders.

Reframe your criticism.

Entertaining negative thoughts about yourself or someone else lowers your energy; both physically and emotionally. Instead of looking for things that people (including you) do wrong, look for the good qualities and characteristics in them. This is a fun experiment because people show up in life just as you expect them to. If you generally view someone as uncooperative, for instance, that is the side of them you will see. Look for a more favorable attribute and soon you'll see them in a different light.

Reframing is a simple process that is drawn from Neuro Linguistic Programming (NLP).  This process, actually "rewires" your brain and "erases" the negative thought patterns you currently have in place. You can teach yourself to think and act differently, and the outcome will be well worth your time and effort.

By: Marla Tabaka

Source: Inc.

Working Abroad? How To Give A Presentation In The Local Language

Even if you’ve been working abroad for a while, and you feel comfortable getting around the city and chatting with colleagues, there’s something incredibly intimidating about being invited to give a formal presentation in your second (or third) language.

Take it from me: The first week I landed in Chile as part of a government-backed entrepreneurship program, a professor invited me to a faculty meeting to speak about Silicon Valley and how academics could participate in entrepreneurship through technology transfer programs. Though I grew up in the heart of Silicon Valley, was familiar with the entrepreneurship scene, and spoke fluent Spanish, I wasn’t sure how to start creating a presentation for a totally foreign audience from scratch.

But, I did it, and since then I’ve given dozens of presentations in Spanish as well as coached friends and colleagues as they’ve prepared to speak in formal, cross-cultural situations. If you’re panicking about your international presentation, here are a few pointers based on what’s worked for us.

Before doing anything else, think about the goals of the event. Are you teaching something? Are you inviting everyone to participate in an upcoming program? Are you competing against others for the audience’s backing?

Once you have a strong sense of these goals, ask yourself if your language skills are strong enough to really move them forward. Be honest: If your vocabulary and fluency aren’t up to par, it might be more effective to present in English and team up with a translator. And that’s totally OK.

If your language skills are solid, go for it, but don’t think you can wing it the way you might in your home country. It’s still important to give yourself enough time to plan a well thought out, culturally appropriate presentation and practice far more than you usually would.

Design Your Message to Fit the Local Culture 

As you’re putting together your presentation, remember that the stories, anecdotes, and persuasion techniques that you’ve used in your home country might not always resonate abroad. For example, sports references like “batting average” or “home run” won’t work in a place where baseball isn’t popular. Or, if most people live with their families throughout college, they might not understand anecdotes about dorms or roommates.

Instead, think about what might help you connect with your international audience. If you’re in a place with a strong tradition of family businesses, like most countries in Latin America, and you come from a four-generation legacy in the same industry, be sure to mention this history, because it will establish common ground. You might even want to include family photos if they support your core message. When I spoke about Silicon Valley at the faculty meeting, I started with a picture of myself at age five, playing on our family’s Apple Macintosh II. With this image, I illustrated that technology has always been an important part of my life, and it could play a similar role in the audience members’ lives, too.

When in Doubt, Use Visuals & Examples 

Last week, I attended an event that featured a German manager from a well-known tech company. He’s based in Barcelona and speaks excellent Spanish, and during his presentation he told a story about a taladro. He mentioned this word at least 10 times, and it seemed essential to the point he was trying to make. However, a significant percentage of the international audience did not understand this word and started whispering to neighbors or looking up taladro on their phones.

The situation illustrated an important point: When there’s a language barrier of any kind, photos, charts, graphs, and visuals can be a great way to help get your point across. If the presenter at my event had shown a picture of the object—a drill—he would have been much more successful in holding everyone’s attention and getting his key point across.

This is especially important when you’re introducing a new concept to your audience. For example, say you’re pitching an energy efficiency app to a panel of foreign investors. When explaining this brand-new concept, you might want to show a picture of something they already know and understand: the energy guide sticker that’s typically found on refrigerators, for example. Explain how this information helps users save energy and money, then extend the analogy to your own product.

Refine and Practice!

As you prepare the content for your presentation, write it all in complete sentences. Share your written draft with at least two or three locals, and incorporate their feedback. Then, read it out loud, and record yourself on a webcam. Watch the recording, notice where you stumble or make awkward faces, and edit out any phrases that are tough to say.

When you’ve finalized the presentation, put the entire script on an iPad or notecards. You don’t want to read it word-for-word—it’s more important to engage with the audience than to get everything 100% right—but having the full text on hand can build your confidence day-of.

Then, practice—as much as you possibly can. Practice in front of a mirror. Practice with your language tutor if you have one. Practice in front of at least two or three native speakers. Make a list of the questions your audience might ask, and practice answering them. The more confident you feel with what you’re going to say, the more you’ll be able to relax and connect with your audience—and that’s what’s bound to make a great impression.
Thinking back to that first faculty meeting, it turned out to be smaller and less formal than I’d anticipated. About 12 faculty members and a few students sat around a big table. I shared my presentation about Silicon Valley, learned about their research, and then fielded questions about a forthcoming grant competition. I enjoyed the experience so much that I’ve gone on to give similar speeches all over the country.

That day also taught me that, as an outsider, you’ll stand out from the crowd. But if you prepare, personalize your presentation, and rehearse your message, you’ll be remembered for more than just your foreign face—you’ll be remembered for introducing a new world of possibilities.

By: The Muse

Source: Forbes