Archives for business

Celebrating 11 Years

Thank You by Andrew Bowden of Flickr

Ten years is usually the big milestone, and it was, but 11 is my lucky number and the year that I had been most excited to reach – a second decade in business to celebrate.

Rather, what is more worthy of celebration are the people I have met, engaged, helped, supported and been supported by. Also, the challenges I have overcome and the self-limiting beliefs that I have busted are worthy of celebrating.

I was very busy with business, grading, and preparing for my first destination girls’ trip (a celebration of the year my high school friends and I turn 40) on my anniversary, that I forgot to acknowledge it on the actual day, June 1st, prior to leaving.

But I arrived before my friends in Hilton Head, SC, and as I lie in a lounge chair over looking palm trees and the warm, gentle, loving ocean, I was overwhelmed with gratitude.

  • I had hardly enough time to pack or sleep because my clients, mentors, and partners have been referring so many leads to me, and because now more clients engage me to work one-on-one with them throughout their campaign, a much larger investment, and more prospective clients are asking to speak with references.
  • I am so grateful for the myriad of former clients who are thrilled to share their story and genuinely want more people to have a happy ending/new beginning just like them.
  • I am grateful that I can spend money on a jaunt without worry that the well will run dry and I will soon regret spending that money, both because I have a full pipeline and because I have busted the belief that I am un-deserving, that the world is a place of cruel limits and lack, and that just when things are finally going well, tragedy will strike.

These beliefs kept me from fully spreading my wings, and while my wings are still not as fully expansive as they can become, they are FAR wider than ever before.

  • I trust in God and the Universe.
  • I know that I am deserving of success, happiness and wealth, and the world is abundant in resources and possibility, as long as I am resourceful and open to possibility.

My 40s and this second decade of business are looking to be my most exciting and adventurous years yet, and I have had quite an exciting and adventurous life so far. But, again, it is not about the years, it is about the people.

  • I first have to thank my husband, without whom I could not have been able to stay in business this long, and most definitely would not have been able to be home with my daughters.
  • I want to thank my parents. Even though I probably would have started a business without their blessing, I was both surprised and relieved to gain their support from the beginning through now.
  • Thank you my former BNI referral partners with whom I still keep in touch and some who still refer clients eight years later. You helped me hone my public speaking and networking skills, and supported my business during the most critical time in a business’s life and at a time when it was critical for me to have a strong business as I ventured into motherhood.
  • Thank you to the hundreds of LinkedIn Workshop for Jobseekers attendees. It was your feedback that enabled me to develop a much stronger curriculum.
  • Thank you to the people in the dozens of organizations who engaged me to speak. I found a new passion in public speaking and, now that my kids are older, see this as a primary platform going forward.
  • Thank you to my first clients who took a chance on a young, but ambitious and knowledgeable résumé writer and career coach who probably seemed like a baby to you.
  • Thank you to the clients who gave me a shot as a work-at-home mom. I was so scared of being perceived as unreliable that I was uber stressed all the time about keeping a regular schedule with my babies. I did not have a lot of time to work one-on-one with clients as I breastfed every three hours for 45 minutes. Though I was more diligent than ever with my schedule, if ever there was a snafu (baby won’t nap, explosive diaper incidents, illness, etc.) you were more patient and understanding than I could have imagined. Your patronage was so appreciated. You kept my business going.
  • Thank you to the clients who helped me test and launch new products and services. Helping you overcome your challenges was a reason to develop solutions that would help so many more.
  • Thank you to my interns and assistants. My management and mentoring experience before I started my business was minimal, but while I created new opportunities for you to grow, you also gave me the opportunity to see what kind of contributor I could be.
  • To my virtual experimental teams, who allowed me to test out new tools and processes while we learned along side each other, we may not have had the outcome we intended, but I can say that a lot was learned, and none of us were afraid to fail. For that we should be proud and I thank you. I will try again with new insights that will help future teams achieve more success.
  • To my former mastermind community, thank you for the virtually magic synchronicity that was created. Again, we may not have created a permanent group, but the momentum gained during that time had a permanent, compounding effect on my business. Thank you.
  • Thank you to all my clients who were willing to be vulnerable and honest with me, and trusted that I had your back and would be compassionate in my stand for your optimal outcome. You should be so proud of how you expanded your comfort zones, increased your life skill level and confidence, and grew empowered to create a future that makes the life you want possible. You ROCK in a very EPIC way.
  • To all the vendors who have helped me with marketing, graphic design, editing, transcription, sales funnels, and more, thank you.
  • A HUGE thanks to my current assistant, Angela, who has been with me two years supporting the most growth the business has ever experienced. Without your efforts, I could never have focused my time and attention on what really mattered, our clients and major strategic initiatives.
  • Of course, I thank my kids. To be honest, they seemed like an impediment to business a lot of the time. This might sound awful, but I used to feel immense pressure to compete with emerging coaches who had no tethers and could attend all the cool events and who started to “take” all the great speaking engagements. It took a while to grow in my own confidence, to see that I am a uniquely gifted coach, that my audience was not being “taken” by someone else, and that I am a FORCE of nature. That last one is something I learned from my kids, from overcoming the challenges that parenthood presented while conquering product development, plus business development, plus client delivery. I can now instill in other moms that it CAN be done.

 

Dear Soon-To-Be Graduates: 3 of 7 Things You May Not Want to Know, But Need To

The Graduates by Luftphilia of Flickr

 

I went back to college this weekend. It was horrifying to discover that these girls were born the year I pledged. My sorority invited alumnae back to campus to say farewell to the house that has been ours since my senior year. It was a time to reflect on some of the most impactful years of my life, but also to remember the fear, uncertainty, and sadness that accompanied leaving college, where your best friends were often just a door away. I had no grand plan, like some of my friends, and no full-time salaried job as an aspiring radio personality. I was under the impression that if I could not make it in radio, I would be living in a ditch begging for change to buy a meal.

That never happened, though hard times did follow. When asked, “What’s life like after graduation?” I had to remember that some of the best things in my life happened after college – my band, my husband, my company, my kids, and teaching, in that order.  As my friends now turn 40, (I’m the youngest, so I get to watch them all get there first) I see that for some of them, it means it is all downhill from here. That was an exact quote from a 40th birthday party I went to last night. (Happy 40th, Neal!) Looking back at the last decade, at what I have learned, how I have grown, what I’ve been able to accomplish and contribute, I am excited for the next decade.  I’m looking forward to it, and I think there are amazing things yet to come.

BUT, there are some things that I would have wanted my younger self to know, which I felt compelled to pass on to the graduating seniors in my sorority, and my students, as well as ALL soon-to-be graduates. I feel these things would have potentially catapulted me so much further so much faster if I had known and applied them.

Before I get into the hard truths, I most want ALL people, but particularly young people, to know that there IS a formula for success, and no matter what family structure, social or economic status, education, circumstance, or hardships you are from, they DO NOT limit your future at all. At any time you can improve your life. The tools, technology, and teaching exist – all you have to do is harness them.

Okay, now on with what you may not want to hear, but need to know if you want to make your 30s onward the best years of your life.

  1. Unless you land at Google, Apple, Disney, a Big 4 consulting firm, or a company with a similar colossal reputation, it will not be as easy as it is right now to land a job.

The co-op program where I teach is world-renowned. The biggest, most admired companies want these graduates badly. They come out of school not as entry-level workers who were getting coffee and observing leadership, but as junior business stars who have already solved real business problems. By the time they take my mandatory career management class, many of them already have jobs lined up from campus recruitment efforts and co-ops that led to offers. While you may be recruited aggressively if you work for a company with clout for hiring and developing the best talent, the legwork to find your next gig, even internally, if you don’t is on you.  AND, furthermore, even if you are aggressively recruited, you are not necessarily managing your career optimally by being reactive to recruiters’ sales pitches. This is why the class that I teach is not “Get a Job 101,” but Career Management and Professional Development. See your career growth as a trajectory and learn how to course correct early. Learn and master the life skills of personal branding, networking, and career management.

  1. The bottom is often the best place to start if you want to be a great leader.

Many of my clients are influential leaders today because they were once in the trenches. Isn’t that the point of Undercover Boss? Making well-informed business decisions can be easier when you have first-hand knowledge of business from the front-line to the executive office. Those that have been successful in implementing massive change say that they were able to rally the troops because they were once the troops. Empathy, as we have stated before, is quickly gaining popularity as one of the most effective leadership tools.

Also, even for those students who were solving real business problems in their co-ops or internships, it might be worth considering starting even lower if the target role or company is worth it. I can speak from experience here.

While I was on air, reporting news, DJing, producing live talk shows, and operating the board for remote broadcasts at a small community radio station, my fellow Communications majors were putting up flyers at concerts, dressing up in costumes, and handing out chotchkes for the major media radio stations. I figured I had the advantage, but I was wrong. I moved to the Jersey Shore and did get to work producing talk shows for an AM station, while digging into commercial production and more part-time work. I temped to pay the bills. Meanwhile, my fellow classmates went on to full-time jobs eventually at the major media stations. Granted, some of their jobs involved much less glamorous, even undignified tasks, like getting shot from a cannon. Guess what – they are STILL THERE, loving their jobs and making what is probably good money. Casey is the Executive Producer of a VERY popular morning show that is streamed worldwide.  Matt is a Regional Director for Advertising for the conglomerate and Joann is Traffic Manager for a radio station in the same company.

When it came down to it, I had recognized after a year in radio that I was not really willing to continue working awful hours, get paid peanuts, do the boring parts of the work OR keep moving from market to market in order to achieve my ultimate position, but that was what I had learned was necessary from the people who were more senior than I at the station where I worked. At the larger station I would have had a completely different experience, and even though I might not have started out on the air, perhaps I would have found a different niche in radio and stayed there until today, too. Not that I have regrets – I think things worked out just as they were supposed to. However, I’ll always wonder.

  1. In time, you will earn the right to demand certain accommodations IF you are a top performer. But for now, you have to play their game.

Older generations will tell you that they had no illusions – work hard, get a job, work your butt off, save your money, and you’ll be fine. That is not what the younger generations have seen, though, so it is not what they will believe. With diminishing financial security for employees came resentment to employers for taking more than they give. This is what has led to a perceived sense of entitlement.

Even though there are talent gaps, and certain skill sets are very high in demand, most are not. Yes, talent is hard to find, but that does not mean companies are willing to bend over backwards to hire you. Ultimately, there has to be mutual respect and value in the deal.  Many things ARE negotiable, but that depends highly on the company, their policies, their culture and what you have PROVEN you can do to make it worth giving you more than they have given to employees before you.

If you are really that good, get in and prove your worth. You may earn the right to ask for more flexibility, more money, extra vacations, or perks. In the meantime, understand that though your package should remain confidential, IF anyone were to learn of you getting preferential treatment, you would not like the climate that breeds.

 

As graduation month ramps up, I hope this food for thought is helpful, even if it may not be encouraging. In a way, your adult life does not really begin until after college. Adulting is not always fun, but being armed with wisdom and systems for success will make it much more enjoyable.

Follow me and stay tuned for more things you need to know, but may not want to hear.

Share this with graduates you know.

 

The Secret to Influencing Corporate Change Revealed

Foxx Discusses Local Economic Issues with NC Business by Virginia Foxx

 

Many of my clients over the past ten years have either developed thought leaders for their organization, leveraged thought leaders, or have been thought leaders themselves.

It seems like common sense that if change in an organization is going to be adopted, it needs to happen from the top down, but my clients have been able to manage upward. Executive leaders have to be able to recognize a problem and the pain that it’s causing to have any desire for change.

When you cannot bring the executive leader to the problem, like in Undercover Boss, sometimes you have to bring the problem to the executive leader, but how you do you do that? Through storytelling. Who does it? A person with influence.

I’m referring to authentic influence. I’m not talking about leaders who are talking heads and attempt to assert their influence using authoritarianism. People with authentic influence, who I refer to as influence leaders, earn trust and loyalty by listening first and foremost. This is also referred to as caring.

At first you may think that they are inaccessible because they seem like Mr. or Mrs. Important, but they genuinely want to be of service. They also want to invest their time improving situations that impact the most people or cause the most pain, so if you want them to give you their ear, be a curator and deliverer of people’s pain stories.

It does not always work. Unfortunately, sometimes executive leadership is more influenced by ego. That is usually how these thought leaders, and the developers of thought leaders found their way to me. They were usually hired because there was an intention and planned initiative for change, but they found interference coming from the top and felt stifled. They are driven by their desire to realize change and they lose their motivation quickly if unnecessary obstacles are created at the top. An influence leader can only inspire change if they are inspired.

In order to retain these valuable people for your organization, executive leaders have to be open and receptive, and to be willing to stand up for change and go to bat for their people.

Otherwise, I will help them find and be found by organizations with leaders who will stand up for change, and that organization will benefit from their influence.

 

Whether you are the thought leader, you develop thought leaders, or you leverage the thought leaders, you are an influence leader. Only work for an organization that demonstrates its willingness to be influenced. If that does not apply to where you are at, let’s have a consultation. It is highly important to me that you, who have such potential to make things better for others, are in a position that enables you to embrace and use your power. That is the influence that I am driven to have.

 

Refuse the Box: The Perils of Vanilla Branding

Checked Tick by Oliver Tacke of Flickr

 

Are you dynamic? What does that even mean?

Very few people who have had that word in their resume have been able to tell me what it really means. Most of them just thought it sounded good.

It is true for most people, however. I could definitely say it has been true of all my clients. To me dynamic means multi-dimensional, having a diverse set of interests and skills, and having a certain intrigue.

While some companies are investing millions of dollars and allocating work hours into creativity boosting exercises, other companies seem to stifle individuality and expression.

It certainly does take all kinds of people to make the world go around, and so you could conclude that the same could be true about businesses.

My friend who works at a very conservative financial services company shared a story that in a conference a report was distributed that misspelled “assess” very prominently and in several places. She would not dare laugh. I know she loves her job and her company, but I could not personally work somewhere where we all couldn’t get a good laugh out of that mistake.

Most of my clients agree with me. For my clients’ sake, I am willing to take a risk early on in the writing process. We have an initial 90-minute branding consultation in which I use my intuition and investigative skills to uncover what makes my clients so special, and by that I mean really unique. I craft four-to-six branding points and then provide them with a request letter that they sent to their trusted inner circle for feedback. This is risky for me because often these branding points represent the softer, qualitative aspects of my clients and I have found many people consider these to be “nice and true, but not necessarily relevant.”

I beg to differ.

The other risk is that these branding points tend to be quite wordy, and not really representative of the kind of concise, quantitative content that I would write for a résumé. Often these branding points portray multiple aspects. It is challenging and excessive to explain how these branding points are used for my internal writing process. Basically, they help me make sure that all of the content has a “so what” feel and that every piece of content I write for my clients presents a clear and consistent brand.

The feedback that my client receives from his or her inner circle usually has a fair amount of commentary on the complexity of the bullet points and skepticism on the relevance. The feedback that I dislike the most, however, is when someone takes a strength, like forthrightness, and advises that we either hide this strength because it is not appreciated by some companies. Or they advise we make it sound more vanilla, aka generic, such as to say “effective communicator.”

The intention is good – they want my client to be marketable and attractive to as many companies as possible, thinking that is the best way to succeed. However, then this forthright client finds himself in a company that values passive-aggressive communication, bureaucracy, and pardon my language, ass-kissing. Not only is he miserable, but he sees how the company’s culture is strangling its own progress and he can’t be as successful as he could be were his honest input valued.

I do not mind sorting through the feedback, good or bad, because I get to reinforce for my clients that they do not need to fit someone else’s idea of who they should be.

You do not need to check all the boxes, or fit inside a box in order to be successful.

Certainly we do not step into a job interview spilling our guts about our failures and weaknesses, but no one would believe us if we were perfect anyway. There is quite a sense of freedom in believing that you can be authentic and be valued.

At this point in the process, they have to take a leap of faith that they actually can be accepted and successful, that the job exists, and the offer will come.

This process also uncovers pure gold. The aspects of my clients that I may have missed, the things about them only someone who worked side-by-side with them would be able to notice, or even what their spouses admire about them.

With a renewed appreciation of who they are, a résumé that substantiates their skills and validates their value, and a new hope that they will be compelling and attractive to the right company and the right boss, they actually become excited to be in action. They feel ready to take on whatever challenges present themselves in the transition process. And of course, I will be there to make sure they know exactly what to do when challenges arise.

If the thought of having to check boxes or fit your dynamic self into a box saps any energy you could possibly muster up to conduct a job search, please know that there is another way and we would love to help you discover and execute it. Our six-week Epic Careering Fast Track Program is starting soon!

The more people we help realize a new idea of authentic careering, more people believe it is possible, and the more companies may realize that a “dynamic” culture is in demand.

 

Bias is Human, Yet Harmful

Interview by Alan Cleaver of Flickr

 

In my recruiting days I had a Vice President who advised repeatedly, “Refute your bias.”

Obviously there are biases that could get us in legal trouble, but she was more so referring to the more subtle biases that can make us dismiss or favor certain candidates. This advice was not in contradiction to using your intuition, but it was just a way to check ourselves before we make decisions that impact our candidates or clients.

Bias is not always bad or wrong; it is a built-in safety mechanism in which we make associations to decide if we are in any harm. It is automatic and it is human. However, now that our brain has evolved higher intelligence beyond our reptilian, instinctual brain, we can take into consideration much different input and make decisions that are more based on logic. The tricky part is recognizing which part of your brain has made the determination.

How much does bias really interfere, though? Why can it be detrimental?

Last week we talked about how critical EQ and empathy have become to corporate success. Bias, on the other hand, when not accurately and promptly assessed will impose unnecessary limits to what you can achieve with other people. This is because you are, by nature, actually limiting the population with whom you can successfully create or limiting the success that you can have with people for whom you have a bias.

It is easy to see that from a recruiting and hiring perspective, a bias will slant what the right candidate looks like, causing you to overlook someone who does not fit that image, but is the better candidate for the job.

As a job seeker, you may think that your intuition is telling you that a potential boss or co-worker is not someone with whom you could work successfully, and you may either decide to not pursue that opportunity or not to give that opportunity 100% of your effort in expectation that it will not work. This, then becomes a self-fulfilling prophesy.

Biases against the wealthy keep poor people poor. Biases against the poor have the same effect. You may have biases against generations, religions, races, genders, status, roles, opposing teams’ fans, people from a certain area, where people shop, etc.

If I continue to list these, I will eventually hit upon a bias you possess. The question is, will you recognize it? The ability to recognize and evaluate your own bias is absolutely essential to your EQ.

Here are three questions to ask yourself to determine if bias is impacting your perceptions, beliefs and actions, and potentially limiting your success and happiness:

  1. What HARD, TRUE evidence do I have to support my opinion?
  2. What do I still need to know and understand in order to know if I am accurately assessing this person?
  3. Could I be wrong?

Only someone with a high EQ would be willing to accurately answer #3, but just asking these questions in the first place are a great way to raise your EQ.

I would like to disclaim that I believe strongly in developing and using your intuition. I distinguish my bias from my intuition by asking these questions. However, once I acknowledge and remove bias, I lean on my intuition, which is a completely different exercise – one that I’ll save for another time.

 

How has bias impacted you?

 

Now More Than Ever, Empathy and EQ Are Critical

Empathy by Aslan Media of Flickr

THIS IS NOT A POLITICAL POST.

Now more than ever, in a divided country in conflict, organizations and employees will need to find ways to bridge the chasms that continue to grow between ideologies in order to enable an optimized future for us all.

Should these adults just be able to suck it up, work together, focus on the task at hand and get business done? Well, yes. However, studies we have cited in the past have proven that happiness impacts profits, and in this blog our focus is on EQ and empathy, and their impact on profits. Also, we will focus on what YOU as a leader (whether or not you are a manager) can do TODAY to be empathetic, raise your EQ, improve the everyday experience of being at work, and contribute to greater profits.

Why should profits be so important? Because the profitability of businesses enables prosperity by ways of job creation, wage growth, higher spending, and improved quality of life. If there is one thing that can unify us, it is that we would all love to live better.

Empathy is the ability to step into someone else’s shoes and see things from their perspective. It requires NOT making assumptions, but rather actively listening to someone else’s story, insights, beliefs and concerns without discrediting or judging them.

Employees with a high EQ (Emotional Quotient) possess the ability to be empathetic. It can be taught or innate, it is facilitated by having a curiosity of others, and a desire to seek to understand. When you have a high EQ, you are not prone to mislabeling others’ emotion, and certainly not calling people names.

Daniel Goleman has purported that EQ is even more important than IQ. Why? It is the human in us all. It is the fundamental desire for love and acceptance. Most of us have our physiological needs met, and beyond feeling safe, Maslow identified that people want to be loved and want to belong. Nothing gets done without people. The fastest way to accomplish anything is through people, even in an age of automation. You still need people to approve, implement and maintain automated systems.

It makes sense, though: The more self-actualized your people are, the better they will perform.

Conversely, failing to address a sense of alienation will promote segmentation and silos that will increase unnecessary bureaucratic and political obstacles to collaboration, creativity, and progress.

What are your alternatives to using empathy to confront conflicts that exist OUTSIDE of business to avoid those obstacles?

Hire only people who agree. Have only customers and vendors who agree.

Good luck with that.

What you can do is simple in that it does not require complex steps, but it is challenging, because it does require that you acknowledge and dismiss your ego when it starts to want to make sure you’re right, that you look good, and that the other person is wrong and looks bad.

WE ALL DO IT! It is just that people with a high EQ can distinguish between an ego response and an empathy response.

 

STEP 1 – ASK

Ask the other person questions that help you understand why something is so important to them. What you might have thought was a lack of values, is really just a difference in experience that places a higher priority on different values. This can take place in a workshop or team-building environment, or it can be a simple one-on-one.

 

STEP 2 – LISTEN

Active listening means that you are listening with the intention of understanding, not responding. If you do not understand something, ask more. I will warn you that the second a person senses that they are being judged, the energy of the exchange shifts. Judging is something we all do. It is okay to admit that you are human. If you recognize that your judgments are interfering with your understanding, admit your fault and reassert your desire to achieve an understanding. It will humble you and put you both back on equal, human ground.

 

STEP 3 – DON’T DEFEND

The purpose of this conversation is NOT to explain yourself. That is your ego’s need to be understood. If the other person has a high EQ, they may be curious about your point of view, too. Be very careful not to negate what they say as untrue, invalid, or irrelevant. You are able to share your point of view without doing that, and this is a practice of EQ.

That’s it. That’s all it takes to start practicing empathy and raising your EQ.

Of course, you can take this practice very far, and the farther you take it, the more you will contribute to your company and the faster you will grow in your career.

Curious how high your EQ is? Take this quiz.

 

If you’re curious to what I have done to improve my own EQ, it was the Landmark Forum. There is one near you. I went in 2008 to help manage the stress that I experienced dealing with other people’s shortcomings only to discover and appreciate the beauty of being human, imperfectly perfect… or perfectly imperfect… or BOTH.

Share with me (us) some ways that empathy (or lack thereof) has been impacting your work life.

 

Is There Still a Social Division of Labor?

Construction Workers by Adam Cohn of Flickr

Construction Workers by Adam Cohn of Flickr

 

True story: last week a guy named Pat walks into Wawa to buy a cup of coffee and stands behind two men wearing suits. The two men were discussing why people wearing fluorescent vests should have their own line.

Looking down at his own florescent vest, Pat inferred that these men were insinuating that blue-collar workers should be treated differently. He asked these two gentlemen if they built the house they live in, if they manicure their own yard, and if they repair their own car.

I don’t know if Pat’s interpretation of the conversation was accurate, but his sense of separation from these two men is real.

I was watching Harley and the Davidsons on Labor Day evening and became attached to the story of the Davidson son, Arthur. He had grown up, but had not started a career like his older brothers and his father begged Author to do something respectable. By respectable, he meant taking on a skilled trade or anything at which he had to physically work hard. Meanwhile, Author was hustling to get a new venture off the ground. It was so interesting to see how entrepreneurship was perceived as not real work, and business men were known for shiftiness. They were also not trusted or respected because they did not physically create anything with their own hands.

Of course a lot has changed in America since the turn of the last century, or so we’d like to think. Certainly a divide still exists, but is it smaller or bigger, and has it flipped upside down or is it just as equal on both sides?

There is a lot of talk about the talent gap, and there are many efforts nationwide to insure that America breeds a skilled domestic workforce to fill that gap. But while people are talking about STEM careers and making it possible for more people to go to college, a very necessary population of skilled laborers is shrinking.

I certainly understand the inclination of many parents to want their child to go to college. I also understand that jobs requiring physical labor may not last as long as a desk job.

My brother, a mechanic turned educator, cannot make a career underneath the hood anymore because of a bad back. My husband has had his fair share of back issues, too. While he has a college degree, a second job as a coach, and he enjoys his work as a certified gas fireplace installer, we both have to face the fact that coaching will eventually be his main gig. Coaching is his true passion and his gift, but it does not pay as well, so we have to plan accordingly now. Really, a back injury could happen any moment.

I had one client who was an accountant and when he was laid off he went back to the job that gave him a lot of pleasure, detailing cars. It was a very cathartic change, but one he could not sustain as he aged. He had enjoyed being an accountant, but he became very disenchanted with corporate careers for a while. When he decided to return to accounting, you can imagine he faced some challenges.

I’m looking at these two different career paths, skilled labor versus corporate. I have noticed that both attract a fair amount of talent, passion, and sense of contribution while at the same time there are drawbacks, concerns, and career mine fields that need strategic navigation. I would like to believe that in the 100 years since Harley-Davidson’s creation the divide between business professionals and working class citizens has diminished. However, there is obviously still a fair amount of misunderstanding, distrust, and even resentment on both sides.

Though the Labor Day holiday was founded to celebrate the effort of unionized labor, it has evolved to celebrate the “contributions workers have made to the strength, prosperity, and well-being of our country.” I don’t find anything exclusive about that statement.

Not only do we need more youth to pursue careers in skilled labor, but we need to accommodate more flexibility in shifting careers. More importantly, we need to show skilled labors acceptance and appreciation because without them, we would not have roads or houses. Some of us would not be able to find our keys or be in compliance with home owners association standards.

Without business people, contractors could not finance materials they need to build homes, your local landscaping company would not know how to advertise, make revenue, or hire people. Furthermore, that grant would never have funded that new highway.

 

I think Pat summed it up perfectly:

“I don’t care what you do for a living, your title, how much money you make, as long as you’re happy doing what you do is what matters. You shouldn’t look at other people and put them down because of what they do for a living.”

 

How to fund a small business and when to launch it

Many think small business owners come out of the gate with money in hand and account payables ready to bill invoices.

d.light ! by Steve Jurvetson on Flickr

d.light ! by Steve Jurvetson on Flickr

For most small businesses, this is not the case.  For the prudent, conservative entrepreneur, launching a small business takes some considerable time.  So for those of you who are considering this, let me give you a few hints.  The classic “out of the garage” story of Apple computers or social media giant Facebook is more of the outlier then the norm. Most small business are birthed from a divisional break off from sales or consulting.  Small business owners usually have an expertise in the area of business in which they have work for several years. In fact, most small business owners will be in that profession for close to ten years before branching out on their own.

So how do they do it and where do they get the money?

If, for example, a person provides a service to clients that are specific and unique of that provider, there is an opportunity for a small business.

Many small business start by providing their product or service to a select few or high paying clients which are first to test the business model.  Being able to measure the demand for a service or product will go a long way in knowing if the business model will be able to scale.

If this can be done as a part time venture that does not compromise your day job, it would be ideal.  Having a source of income during the trial period of this new venture will allow you to make financial mistakes, which are inherited to small businesses. Once cash flow is produced and a trail client base is established, it is important to keep cost low and fixed.  In today’s virtual world this is more achievable than in the past.   Most small business can only get funding via an SBA loan, but others choose to self-fund their ventures with debt from personal credit cards, which are essentially unsecured loans. This has it own limits due to FICO scores and available money in credit lines.  Still, it remains a main source of funding for small business owners even today.

The most exciting prospects are the social funding websites or crowd funding.  INC magazine just did a review of the top 22 crowd sourcing websites for small business ventures.  We all have heard of Kickstarter, but for some this will not be doable based on the sector of the venture.  Others may choose Fundable, Earlyshares, Seedinvest, etc.  I believe these crowd funders will eventually change the public and private market going forward.

In the end, ideas and being able to produce them will always be in demand.  Working with an advisor who understand entrepreneurs will be a hugh asset in navigating the pitfalls and financial changes one faces in starting and growing a business.

The Brogan Group is a registered investment advisor which specializes in investment management for individuals and other financial intermediaries.

We believe in empowering our clients through financial education.  We educate our clients around budgeting for families and cash flow management for small companies.

We serve the full spectrum of clients in portfolio management and risk assessment to different asset classes.  We specialize in Behavioral Finance and use this as our core approach.  Allowing us to have a 360 degree approach money management

We are not your average financial advisors. We have produced a proprietary way or changing clients behavioral when it comes to money management and investing.

Our Money Memory System is our core product for clients looking to move to a great awareness their financial lives.  This with our custom client approach allows greater outcomes in reaching our clients set goals.

We are a fee based advisory who believes in our fiduciary role in putting our clients first.

The One Thing You MUST Give Up To Have A Successful Full or Part-Time Business

Man with adhesive notes in his office

 

According to a 2012 survey, 51 % of Americans would rather be self-employed and 44%  think it would be possible for them to go into business for themselves within the next five years — a figure that has increased 8 percentage points since 2009.

Despite the large number of people who want to be in charge of their career, only 6% are currently self-employed.

Why the huge discrepancy?

If so many people want the freedom and independence of being an entrepreneur, what is stopping them?

The results of the survey are fascinating.

4% can’t come up with a business idea.
15% didn’t have enough capital.
10% say they lack the necessary skills.
2% say administrative barriers hold them back.

When I read those numbers I was surprised. They don’t seem to ring true. There are millions of ideas, people who are interested in investing, and anyone can learn a new skill.

So what is the real reason so few people are entrepreneurs?
Fear.
YOU MUST GIVE THIS UP IF YOU WANT SUCCESS

The thought about something that hasn’t happened.
Old fashioned, garden variety fear.

What stops most people from being an entrepreneur, is the fear of going bankrupt or the fear of an irregular income.

When people feel that their current situation, no matter how awful it is, guarantees a steady income, it’s hard to give up that perception of security for uncertainty. (Think of all of your friends who are stuck working with rude, negative, and even nasty people. They may talk about leaving to start their own business, but where are they now? Yep. They’re still there.)

The fear of reducing income is so big that it even stops people from trying to start their business on a part-time basis even while they are employed.

Of all the classes that are taught in business school, it’s clear that a comprehensive course in getting over the fear of starting your full or part-time career is needed.

Wharton, are you listening?

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What get’s in your way of starting your full or part-time business? Share your comments below. Someone might have a great solution for you. 🙂

Wendy Merron is a Certified Hypnotherapist, Founder of The Center for Success in Wayne, PA and author of Powerful Thinking on Purpose.