4 Myths About Success to Ignore

4 Myths About Success to Ignore 

When you're running a business, it's tempting to fall for get-successful-quick schemes. Here are four so-called "success" strategies that can easily backfire.

Most of us are looking for the key to success. As I've mentioned in previous columns, I believe that the core foundation for a successful career is figuring out where your innate talents and purpose connect and creating a job strategy around that area of overlap. After that, there are countless other variables to consider. The biggest key to success is being able to weed through those variables, figure out what works for you, and ignore what doesn't.

It's trickier than it sounds. We all have doubts about our ability to succeed. This is especially true when you are beginning to build a business. When you're stressed and vulnerable, you're susceptible to any information that comes your way. Savvy marketing ploys also play into our fears, making us believe that the key to six-figure success lies in reading a book or taking a seminar. To that end, here are some common "success strategies" that may sound like the right thing to do, but could actually lead you astray.

Myth: Get advice

We all want advice. We crave understanding and clarity, and if someone can give us something that will help unleash in us what is needed to get the job done, then we love it. The problem is that we often fail to see the difference between advice and support. Advice is what someone else would do in your shoes; support is when someone steps into your shoes and helps you make a decision based on what is best for you. Advice is what’s more commonly shared, so be wary of it. For example, your parents may warn you not to start your own business. They may not have the entrepreneurial spirit, and if they started a business it would probably fail. You, however, may be different. The bottom line: When you hear advice, listen to it. Does it make you excited? If not, then discard it. It’s not right for you.

Myth: Get an MBA

Getting an MBA is viewed in society as a ticket to a high-paid job or a lesson in how to run a business. However, most entrepreneurs will say they learned all that they know by building their business on their own. Getting an MBA may be right for some of you, but it’s not a magical solution for being successful. Some of the most successful entrepreneurs, such as Sara Blakely, Richard Branson, and Oprah Winfrey, are famous for not having business degrees. If getting an MBA excites you, then do it. Otherwise don’t.

Myth: Make six figures in the first year of business

We are impatient. That is one of the problems with listening to typical marketing slogans that are prominent in the "success" industry. Marketing can lead you to believe that it’s realistic to make lots of money fast if you hire the right person or follow the right formula. The fact is that 93 percent of small businesses have less than $250,000 in annual revenue and 57 percent have less than $25,000 in annual revenue, according to the U.S. Small Business Administration. So making six figures is not common and certainly not an achievement that should be expected to happen overnight. You need to gauge your success based on other metrics: Are you consistently growing in a positive direction? Do you love what you do? Are you continually evolving? Are you able to pay the bills? These are the types of questions you should be asking, rather than setting up unrealistic expectations that may not be sustainable for an early-stage business.

Myth: Everyone is a customer

There's a misperception that if your business serves everyone, it will be huge. Once you’re at the size of, say, Amazon, these types of goals are more realistic, but if you are a small business trying to grow, nothing is more detrimental than not having an ideal client. Being able to offer a clear solution for a certain type of audience not only increases your likelihood that someone will remember you, but also bolsters your brand. You want to be unique and offer the best solution for a certain type of person, not be everything to everybody.

By: Laura Garnett

Source: Inc.

A Really Busy Person's Guide to Work-Life Balance

A Really Busy Person's Guide to Work-Life Balance

Women working the highly pressured field of neuroscience share what their studies -- and their lives -- have taught them about work-life balance.

When it comes to who has the toughest work-life balance challenges small business owners might plausibly make a case for a top slot, but academic scientists are right there with them. A highly competitive work environment, long hours, and frequently moves between cities and institutions are all part of the game, so how do the women who take up these sorts of careers manage to balance them with a happy home life?

And better yet, how do women who study the human brain manage their lives so that they work for their professional ambitions as well as the peculiarities of the wiring in our heads?

That’s the premise of a long round up advice from female neuroscientists on the blog of the University of Washington’s Fairhall Lab.

Some Cliches Are Correct…

… it does in fact take a village, the women agree, but our modern views of childrearing sometimes keep us from embracing help. "Throughout most of history, there were many people who played a role in the raising of each child. Mothers, fathers, grandmothers, sisters, brothers and whoever happened to be standing around. It’s the natural way of doing things, except that we live at a funny cultural moment wherein that normally collective job largely falls on the shoulders of one person: the mum," explains Anne Churchland of Cold Spring Harbor Laboratories.

“When my children were first born, I drafted complicated schedules wherein my husband and I could offset our work hours to minimize the time our son would be in the care of others. This was fine, but we also minimized time with each other, and my life got much easier when I accepted the fact that, realistically, I needed a lot of help. A LOT,” she concludes and the other commentators largely agree: fighting the cultural pressure that causes mothers to feel guilty for leaving their kids in the care of others leads to happier parents and better socialized kids.

Having Money Matters

This may seem obvious, but all the talk of optimal schedules and choosing caregivers can mask the brutal truth we all know but sometimes fail to mention -- the more money you make, the easier it is to manage the juggle. "Spend money on services," recommends Ila Fiete, a professor of neurobiology at University of Texas, Austin. "Hire babysitters, house cleaners, gardeners, lawn mowing services, any logistical help you can manage to outsource... I cannot recommend this more highly."

For academics the takeaway from coming to terms with this reality is simple: advocate for yourself. "Ask for raises because childcare is expensive," says Catherine Carr, a biology professor at the University of Maryland. Leslie Vosshall of The Rockefeller University is equally blunt: "Earn enough money to make all this work. Children are expensive." For small business owners who have no one but themselves to appeal to, it may be worth taking a hard look at how you price your products and whether you can squeeze any more profit out your business -- even if that means a bit more time away from your family.

Your Kids Can Be a Help Not a Hurdle

This is a big one and comes up again and again in the women’s responses. Yes, of course, kids are demanding, but depending on how you raise them, they can also be a big asset in your struggle to fit it all in. "When time is tight, it’s so easy to just do everything for kids rather than teach them or wait for them to do it slowly. But if you don’t give them the time they need to become independent, they will stay dependent and that is much more frustrating in the long run," says Gwenn Garden, a professor of neurology at University of Washington, Seattle. "I heard the suggestion about storing plates and cups in low cabinets and drawers from an older woman scientist several years ago and immediately implemented it for my step-daughters. At age 5, my daughter already helps empty the dishwasher, gets her own cups of water and helps get everything ready for breakfast." This approach doesn’t just make parents’ lives easier, the women note, it also boosts kids’ confidence.  

"Children today are all geniuses. It’s amazing! Their parents tell you how they can count to 100 at age 4 or play symphonies at age 3 or read Shakespeare at age 5. A miracle! However, these geniuses are almost uniformly clueless about how to load the dishwasher, put away laundry or make a sandwich," observes Churchland, who notes that "parents are usually aware of this fact and frustrated by it- who wouldn’t like a little help around the house? But the parents of the geniuses devote all their parental resources to cultivating the genius and far fewer resources towards skills that would actually be of use. Cultivating useful skills does take time and thought, but the payoff is huge!"

Ignore Others’ Judgements

"Try not to waste time worrying about what your senior colleagues think," advises Garden, who came to this realization after she noticed sensible people don’t obsess over their colleagues’ arrangements: "I couldn’t remember much about my colleagues actions like whether or not the were regularly present and departmental functions or faculty meetings or did their ‘fair share’ of administrative or teaching responsibilities. The only things I remembered was the last time they presented their research or the buzz around a high impact publication. Once I realized this, it became easier to avoid, say no to and/or leave in the middle of a lot of things when what I would rather be with my husband and daughter."  

It’s also important not to judge yourself. "No matter what, be gentle with yourself.  As women, we are often our own harshest critics," says UC Berkeley’s Marla Feller.

And a Final Bit of Advice…

If your husband or partner isn’t as helpful with logistics as you want him to be, the University of Washington’s Adrienne Fairhall says you should try to be understanding. His brain is most likely to blame: "My husband’s inability to do family logistics is, I have learned, not universally but statistically significantly gender-characteristic and is not to be attributed to personal failings."

By: Jessica Stillman

Source: Inc.

10 Things Employees Want More Than a Raise

10 Things Employees Want More Than a Raise 

Contrary to popular belief, employees value many things more than the amount of money they're being paid.  If they're treated right, employees will not only work for less, they'll be happier and more productive as they do so.

Based upon hundreds of conversations I've had about bosses and jobs, here's what employees really want:

1. To feel proud.

When asked what they do for a living, employees want to boast rather than apologize. They want the people they meet to be at least a little impressed, even if it's only because the employee has taken on a job that's generally thankless.

2. To be treated fairly.

While almost everyone realizes that life isn't fair, employees don't want the boss to make life more unfair than it already is.  Employees hate favoritism.  They expect the perks and promotions to go to the people who work hard, not the people who kiss butt.

3. To respect the boss.

Employees want respect from the boss, of course, but just as strong is the need to feel respectfor the boss!  Employees want to believe in that their boss is a leader who is worthy of their loyalty.

4. To be heard out.

Employees hate it when the boss doesn't have the time or the interest to listen to what they have to say. Employees don't expect the boss to always take their advice, but if the boss won't hear them out they (rightly) assume the boss doesn't care about them.

5. To have a personal life.

For many bosses (especially entrepreneurs) work is a way of life.  Employees, however, usually think of friends and family as their "real" life.  Even when they're committed to their job, they get twitchy when work keeps them away too much.

6. To be coached not micromanaged.

Employees want the boss's help when 1) they ask for it, or 2) they're floundering so badly they're afraid to ask for it.  What employees don't want is to have the boss looking over their shoulder all the time.

7. To see the assh*les get fired.

In almost every workplace there are one or two jerks who make life miserable for everybody.  Almost more than anything else, employees want the boss to fire those jerks. If the boss doesn't, employees know he's either a weakling, a fool, or a jerk himself.

8. To feel less stress.

People hate the sense that they've got too much to do and not enough time to do it. Bosses must plan carefully, anticipate problems and set realistic goals, so that they don't accidentally and unnecessarily add stress to employees' lives.

9. To have a little security.

No sane employee expects lifetime employment.  Even so, it's hard to concentrate when you feel as if a sword is hanging over your head. Employees want to know that they're not wasting their time when they're giving your their best.

10. To beat the competition.

Finally, never underestimate the power of teamwork, especially when teamwork means grinding the other team into the dust.  Employees don't want to be team players; they want to play on the winning team.

Why isn't money on the list of desires? Well, as it happens, I've seldom heard anybody complain about their salary per se, except in the context of the above desires (i.e. "they don't pay me enough to put up with this.")

Satisfy the ten desires above and your employees will remain loyal and hardworking, even if you're paying them less (and maybe even far less) than they might earn elsewhere.

By: Geoffrey James

Source: Inc.

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.