Tuesday, August 30, 2011

Entrepreneurism & The Corporate Perspective (Pt. 1)

Introduction
A very successful businessman had a meeting with his new son-in-law. "I love my daughter, and now I welcome you into the family," said the man. "To show you how much we care for you, I'm making you a 50-50 partner in my business. All you have to do is go to the factory every day and learn the operations." The son-in-law answered: “I hate factories. I can't stand the noise." "I see," replied the father-in-law. "Well then you'll work in the office and take charge of some of the back office operations." "I hate office work," said the son-on-law. "I can't stand being stuck behind a desk all day." "Wait a minute," said the father-in-law. "I just made you a half owner of a profitable corporation, but you don't like factories and won't work in an office. What am I going to do with you?" "Easy," said the young man. "Buy me out!!!"

Entrepreneurism is most often associated with small and medium-sized businesses. Yes, we know of small businesses who rode entrepreneurial ideas into large and profitable companies. But most of the time we view entrepreneurs to be small business owners. It is my goal to challenge that thinking. Entrepreneurism not only births large corporations, large corporations give birth to entrepreneurial innovation. In fact, this is the first of eight myths related to innovation in a corporate environment that I want to address. For purposes of this presentation, I will be heavily drawing from material/ideas in Vijay Govindarajan and Chris Trimble’s work entitled: “The Other Side of Innovation.”

Myth #1 -- Only Start-ups Can Innovate
The reality is that many innovation challenges are out of reach for start-ups. Many innovation challenges can only be tackled by large and established organizations. Why? It is because organizations have mammoth assets at their disposal, assets that entrepreneurial firms can only dream of. As such, those of you with an entrepreneurial bent should be open to joining large organizations.

Myth #2 – Innovation is All About Ideas
There are more than 10,000 climbers each year who attempt to reach the heavily glaciated summit of Mount Rainier in the Northwest. It is perhaps the world’s most difficult climb that is accessible to novices, so long as they are accompanied by expert guides.

The first hour of the climb is easy. Each subsequent hour is harder. At dawn, the climbers get their first glimpse of the summit – majestic and inspiring. With each step, however, their labors become more excruciating. Muscles ache. The air becomes thinner. Some of the climbers become dizzy. In fact, nearly 50% of those that start out, turn back failing to achieve the summit. For those that persevere, the summit brings jubilation and exhilaration. Months of preparation comes to fruition. To be atop Mount Rainier is to sense that you are on top of the world. The city of Seattle lies more than fourteen thousand feet below.

But their adventure has only begun. They still have to get back down. And the descent from Rainier’s summit is actually the most difficult part of the expedition. Climbing a flight of stairs may be harder than descending but this is not the case with a descent from Mount Rainier. It is a dangerous mountain, one that claims a few lives each year. The snow on the surface of the glacier can collapse into interior caves and tunnels, and climbers can slip into deep crevasses. As each hour passes, sunlight and rising temperatures soften the snow and increase the risk. Added to these risks is the fact that climbers are deeply fatigued and prone to mistakes. No matter how many times they are told of the dangers in advance, climbers naturally relax at the summit. The glamorous part of the quest is over. The big aspiration – the big dream – has been fulfilled. The trip down is an afterthought.

There is a Rainier-like summit in entrepreneurism. It occurs when an organization says yes! That’s a great idea! Let’s take it to market! Let’s make it happen! Getting to the summit can be difficult. The challenge of reaching the summit lures many. It captures the imagination. It is easy to get others excited. Getting to the summit can seem like the fulfillment of a dream, but it is not enough. After the summit comes the other side of entrepreneurism – the challenges beyond the idea – execution.

Entrepreneurs tend to place too much emphasis on ideas and not nearly enough emphasis on execution. Thomas Edison said: “Genius is 1 percent inspiration and 99 percent perspiration.” As an entrepreneur in an organization, innovation is not just about an idea. You need to encourage your organization to shift more attention to the other side of innovation – execution.

Myth #3 – Entrepreneurs Who Are Also Great Leaders Never Fail
Where you find an overemphasis on great ideas, you often find an overemphasis on great leaders. Many organizations hold romantic views of entrepreneurial heroes. Even those organizations that are unmoved by exaggerated tales of inspired underdogs overcoming long odds, can be tempted to embrace stories about how great leaders are able to always implement great ideas.

This is simply not true. While not dismissing the importance of choosing the right innovation leader, choosing a talented leader is never enough. This is because innovation and ongoing operations are always and inevitably in conflict. What do I mean? The greatest strength of a successful organization is repeatability and predictability. By definition, innovation is neither repeatable nor predictable. It is exactly the opposite. It is non-routine and uncertain. Thus, the inherent conflicts between innovation and ongoing operations are simply too fundamental and too powerful for one person to tackle alone. Entrepreneurs who are also great leaders need the support of the organization and assistance from its resources to have any chance of being successful.

Myth #4 – Effective Entrepreneurs Must Be Rule Breakers
Entrepreneurs are called risk takers, mavericks, and rebels. The fact that innovation and ongoing operations are inevitably in conflict makes it easy to create a mythical drama. What will our hero do? What obstacles will our hero have to overcome? Who in the big organization is our hero’s arch villain?

This romantic story usually results in our hero overcoming the stubborn forces arrayed against innovation by “breaking the rules.” It is important that you don’t want to let this notion take hold in your organization. This is because:
o Innovation leadership is not best thought of as civil disobedience. The odds are stacked against rebels and mavericks. Moreover, an organization full of rebels and mavericks fighting the system is not an innovation powerhouse -- it is an undisciplined and chaotic mess.
o Innovators need the organization. Innovation may very well signify the future. But the successful organization is the proven foundation, and if it crumbles, there is no future.
o Conflict is not due to the organization being evil, rather, it derives from the endeavors of good people doing good work. It arises from efforts to achieve the most basic goals of every business – producing, delivering, selling, marketing, servicing, and more with speed and efficiency.

The bottom line: innovators must do no harm to the organization’s existing capabilities.

Thursday, July 28, 2011

The Ten Commandments of Speaking -- Part 3

#7 – Thou shalt not flail like a duck.
Thom Singer writes: “Specific and well-planned movements will express a powerful thought and help you make a lasting connection with the audience. However, stiff and awkward gestures distract from your expertise and make you appear like a novice, nervous, and uncomfortable.” Gestures can be one of the most powerful tools in your speaking arsenal. They can be used to draw attention to an important point. They can be used to emphasize an important fact. They can be used to visualize an important point. Just remember they can also detract from your presentation. Use them judiciously and wisely.

#8 – Thou shalt use stories in your presentations.
The greatest teacher of all time, Jesus Christ, largely taught in parables. Why? People easily remember stories. Embrace story-telling in your presentations. Whenever possible, frame your presentation with a single story. Whenever possible, illustrate key points with stories. Whenever possible, use stories in your introduction and conclusion. This takes work but it will make your presentation more effective and memorable. One other side note – include humor and wit in your stories. The audience is not expecting you to be a stand-up comedian (and you should avoid trying to become one). Learn the difference between telling jokes and adding observational humor to your stories and presentations.

#9 – Thou shalt memorize (a part of) your speech.
There is nothing worse than sitting in an audience listening to a speaker read their speech. Why don’t they just pass it out! Being a visual learner, I would prefer that! I am not suggesting that you memorize your whole speech. I am suggesting that you memorize your opening, your key stories, and your closing. This enables you to start strong, drive home your key points, and finish with a bang. If you want to be an effective speaker, this commandment alone will enable you to impact your audience. It allows you to let them leave with several memorable moments.

#10 – Thou shalt be personal.
Thom Singer writes: “Show your audience your personal side, even in a business presentation. Expose pieces of your personal life and your past mistakes and vulnerabilities, as this will make you easier for the average person to relate to you as a human being.” Speakers too often think that they have to appear as an authoritative expert. They think that being personal diminishes their effectiveness as a speaker. Nothing could be further from the truth. Authenticity is what makes an audience connect to a speaker.

There you go! This is not an exhaustive list of items one needs to work on to become an effective speaker. It is merely a starting point. Just know that if one masters these “ten commandments,” one will greatly elevate one’s speaking prowess and will be a long way down the road to speaking expertise.

Wednesday, July 6, 2011

The Ten Commandments of Speaking -- Part 2

#4 – Thou shalt not be monotone.
The only thing worse than listening to a boring speaker, is to listen to a monotone speaker. Speaking to an audience in a monotone voice is the quickest way to ensure that the audience “tunes you out.” Your content may even be outstanding but outstanding content delivered in a flat, monotone voice ensures that you will be an ineffective speaker. Your speech should include voice inflection (soft segments as well as louder segments), enthusiasm, energy, a change in pacing (faster and slower segments), and clear enunciation (be willing to even emphasize individual syllables).

#5 – Thou shalt avoid all verbal tics.
Thom Singer writes: “Many who are nervous or inexperienced about speaking in front of an audience are scared of pauses, and they fill in the gaps with filler words – ummm, ahhh, you know, etc. They often do not know they are doing it, and have no idea how the continuous use of such ‘verbal tics’ can cause the audience to lose track of their message.” There are several ways to know if you are making this type of mistake. First, you can have a friend “grade” you as you speak. Second, you can record your speech. Or third, you can video tape your speech. If you determine that your speech is full of verbal tics, practice reducing those verbal tics in your everyday speech. You may be surprised how this will aid your public speaking proficiency. And remember – do not be scared of a pause in your speech, even if you are searching for a word. Pauses are much shorter than they seem and can even be used for emphasis.

#6 – Thou shalt not have thy feet in concrete.
Do not forget to walk around while you are speaking. Nobody wants to watch a statue speak. Use as much space as you can. Get out from behind the podium. Walk into the crowd. Look into the eyes of the audience. Use movement to your advantage.

Friday, June 10, 2011

The Ten Commandments of Speaking -- Part 1

It has been said that speaking in public is one of the greatest fears that people have. In fact, I know of people who would rather risk life and limb than to face an audience of real human beings (of any size). While this fact is often made light of, a successful business career demands that one have – at a minimum – average public speaking skills. And if one acquires above average speaking skills, one can differentiate themselves from their peers.

The purpose of this short primer on public speaking – entitled “The Ten Commandments of Public Speaking” – is to provide the reader with a starting point. What are the basic elements that one has to master to be an effective public speaker? What does one need to focus on to improve their speaking skills? This primer is the result of much study, much instruction, and much practice. I hope that you find these ten commandments of public speaking understandable, relevant, and actionable.

#1 – Thou shalt know thy audience.
Thom Singer writes in The ABC’s of Speaking (a must-have for your library): “Before you accept an offer to speak, ask about the makeup of the audience. Age, gender, occupations, backgrounds, job titles, purpose of the group, and their expectations are part of the information you need to prepare. While many people who speak infrequently have a standard speech that they give, you must be sure that you customize your remarks to the demographics and needs of the individual audience. The more you understand about whom will be hearing you speak, the better you can tailor your presentation to create a connection with the group. Think about those who will sit in the uncomfortable chairs and make them the priority.”

#2 – Thou shalt know thy purpose.
In his best-selling book, 7 Habits of Highly Effective People, Stephen Covey tells us to “begin with the end in mind.” Too many people take on a speaking assignment with no specific purpose in mind. Others jump in and try to “wing it.” Before you speak, take a few moments (at least!) and focus on the purpose of your speech. “Are you there to educate? To inform? To entertain? To tell a story? To motivate? To influence or encourage those listening? To deliver good or bad news? Is your presentation designed as a call to action for others? What is your personal motivation for being the person speaking?..... Know why you are there and be intentional in everything you do with regards to your presentation” (Singer).

#3 – Thou shalt know that language matters.
In his best-selling book, Axiom: Powerful Leadership Proverbs, Bill Hybels writes: “Leaders rise and fall by the language they use. Sometimes whole visions live or die on the basis of the words the leader chooses for articulating that vision. When you put the right words to a vision or a principle, it becomes axiomatic. It begins to live! It becomes memorable and powerful…..The very best leaders I know wrestle with words until they are able to communicate their big ideas in a way that captures the imagination, catalyzes action, and lifts spirits. They coin creeds and fashion slogans and creates rallying cries, all because they understand that language matters.” For example, when Willow Creek was setting forth a strategic vision for members of the church, one of their key values was compassion. Instead of saying they were going to “be compassionate” (big yawn), they said they were going to “unleash unprecedented amounts of compassion into our broken world.” Which do you think is more effective?

Sunday, May 8, 2011

Vocation as a Mask of God

Do you want to know how you can influence the culture? How to have a strong family? Do you want to know the meaning of your life? Then attend to the Reformation doctrine of vocation. This strangely neglected doctrine has to do with how God providentially governs the world of human beings. It also constitutes the theology of the Christian life.

The doctrine of vocation, a term that is just the Latin word for “calling,” deals with how God works through human beings to bestow His gifts. God gives us this day our daily bread by means of the farmer, the baker, the cooks, and the person at the check-out counter. He creates new life – the most amazing miracle of all – by means of mothers and fathers. He protects us by means of police officers, firemen, and our military. He creates beauty through artists. He heals by working through doctors, nurses, and others whom He has gifted, equipped, and called to the medical professions. He proclaims His Word, administers His sacraments, and cares for His sheep through the calling of pastors.

Luther called vocation a “mask of God.” He said: “God milks the cows by means of the milkmaid. We see a menial worker and may even be so presumptuous as to look down upon her, but behind that humble facade looms God Himself, providing milk for His children.” And we too are masks of God in all our multiple callings. We have callings in the church (pastors, elders, choir members, parishioners); in the state (rulers, subjects, voters); in the work-place (employer, employee, factory worker, milkmaid, businessman); and in the family (husband and wife; father and mother; child; grandparent).

Before God, all vocations are equal. The purpose of every vocation is to love and serve our neighbor. “God does not need our good works,” commented Luther, “but our neighbor does.” In our vocations we encounter specific neighbors whom we are to love and serve through the work of that calling. Husbands and wives are to love and serve each other; parents love and serve their kids; office and factory workers love and serve their customers; rulers love and serve their subjects; pastors and congregations are to love and serve each other. And God is in it all.

Adapted from:
Gene Edward Veith
Tabletalk (March 2009)

Monday, April 4, 2011

Career Enrichment Primer -- Part 3

Communicating (Protect Your Network)

Now that you have characterized yourself and connected with others – it is time to communicate with your network. That is, it is time to protect your network. When it comes to relationship maintenance, you have to be on your game – 24 hours a day, 7 days a week, 365 days a year! Eighty percent of building and maintaining relationships is just staying in touch [1:181]. The number one objective in protecting your network is to remember a simple rule: “Above all, never, ever disappear” [1:94].

How often does one need to stay in communication with their network? Each member of your network needs to hear from you at least once a month. That can be done via an email, a phone call, or an in person visit. At a minimum, you need to distribute a monthly newsletter that updates your network on your schedule, your accomplishments, your challenges, and your thoughts. I have found the newsletter to be an effective way of keeping my network aware of what I am doing while also sending out pleas for assistance (e.g., tell your network that you are getting ready to select a product or a provider and watch how many people raise their hands to help!). The bottom line is you want to remain in the forefront of their minds.

How does one turn a contact into a substantive member of your network? People you’re contacting to create a new relationship need to see or hear your name in at least three modes of communication – email, a phone call, and a face-to-face encounter – before they will become a substantive member of your network. If you want to transform a contact into a friend, you need a minimum of two face-to-face meetings out of the office [1:183].

What tools should one use to stay in communication with their network? There are many excellent tools currently available on the market. You can maintain a “core” list of network contacts via Yahoo!, Gmail, or Outlook. You can leverage Plaxo or LinkedIn. You can maintain a blog and/or web site. Simply put: there are numerous tools and services that one can use to stay in communication with their network. Pick one and work it!

While maintaining your network, don’t forget about important events – anniversaries, birthdays, significant life events (the passing of a parent, the adoption of a child, etc.). While it is a lot of work, start now gathering that type of personal information. It enables you to distinguish yourself from others while ministering to your network. The governing principle is repetition. Just find a way to contact people regularly without putting too much strain on your already busy schedule. Building a network of friends and colleagues is about building relationships and friendships. It should be seen as fun, not time-consuming [1:97].


Endnotes

[1] Keith Ferrazzi, “Never Eat Alone”
[2] Tim Sanders, “Love is the Killer App”
[3] Donald Phillips, “Lincoln on Leadership”

Friday, February 4, 2011

Career Enrichment Primer -- Part 2

Connecting (Build Your Network)

Now that you have defined “who” you are, determined what makes you unique, and packaged that into a brand statement – that is, you have characterized yourself – it is time to connect with others. To better enable you to connect with others, let me address five questions about networking.

1. What is networking? [1:8-15]
It is the process of sharing your knowledge and resources, time and energy, friends and associates, and empathy and compassion in a continual effort to provide value to others, while coincidentally increasing the value of your network. It is not an impersonal effort. It is really about connecting with others. Real networking is about finding ways to make other people more successful. It is about working hard to give more than you get. It is a constant process of giving and receiving – of asking for and offering help.

2. Why should one network?
One should network, first, because you can’t get there alone. No matter how smart you are, how much innate talent you’re born with, where you come from, and how much you started out with – you will be unable to achieve your goals in life alone. Success in any field, but especially in business, is about working with people. The individual who know the right people, for the right reasons, and utilizes the power of these relationships can become a member of the “club”, whether or he started out as a caddie or not! [1:15]

Second, we live in an age where relationships are more important than seniority. Where employees once found generosity and loyalty in the companies we worked for, today we must find them in a network of our own relationships. [1:17] You can amass a large network of relationships by feverishly connecting others. The more people you help, the more help you’ll have and the more help you’ll have helping others! [1:16]

Third, networks are like muscles – the more you work them, the stronger they become. [1:19] Too often, we get caught up in focusing solely on the work that will get us through the day. We are too busy meeting deadlines, racing off to soccer practice, and watching our favorite TV show to invest in connecting. Taking this course of action causes our network to become limp and weak. We become less effective in helping others while assuring that our network will be of less value when it is needed for our own career advancement. The idea isn’t to find oneself another environment tomorrow – be it a new job or a new career – but to be constantly creating the community that enables you to find a new job (or a new career), no matter what may occur.

3. What does one share when networking?
Tim Sanders nails this answer in his wonderful book, “Love is the Killer App.” We are to share our knowledge, our network, and our compassion. Let me provide you with some details around his answer.

o Knowledge
By knowledge, I mean everything you have learned and everything you continue to learn [2:13]. We live in an age where information is more important than experience. In fact, information (or knowledge) is value currency [2:67]. Someone talking about the latest reality television show may attract a brief audience at the coffee machine, but someone who tells people about Nicholas Carr’s “The Big Switch” and who finds a way for them to connect the ideas to their careers so that they own the book (so that they can use it themselves to succeed in their jobs), is a person of genuine value. It’s the difference between knowing which sports team is in first place and which new business idea can propel a career forward. [2:68]

Power, today, comes from sharing information, not withholding it [1:146].That is why you transmit knowledge. You’re not just handing out some weight-loss hint or a workout tip or a recipe for a great tasting low-fat cake. You’re giving someone knowledge that can advance a career. You want to become a “theory-slinging, expert-quoting, knowledge-throwing” [2:68] person that makes you stand out from the pack and keeps them coming back!

Where do you obtain this knowledge? First, you focus on books. They are complete “meals.” They contain hypotheses, data, research, and conclusions. Second, you need to be reading magazines. While they aren’t necessarily intended to transfer entire thoughts, they can contain a kernel of an idea that prompt you to do further study. Third, you need to be perusing blogs for the same reason you read magazine articles – to grasp an idea that is worthy of further study. Finally, you need to be attending seminars. These seminars enable you to hear thought leadership while interacting with peers. Bottom line: Share your knowledge!

o Network
By network, I mean your entire web of relationships [2:14]. Each person in your network is relevant. Sometimes people who may appear powerless or insignificant are potential networking superstars. These connections within your network can accomplish almost anything. They can open doors for job seekers (including you). They can make it possible for you to be introduced to a contact (a person or a company) that you did not have a direct relationship with. They can enable you to spin your “web” out farther and farther. The bigger your network gets, the more attractive it becomes, and the faster it grows. Real power comes from being indispensable. Indispensability comes from being seen as “super-connector” – a person who is able to parcel out as much information, contacts, and good will to as many people as possible [1:174]. Become a super-connector. Share your network!

o Compassion
By compassion, I mean that personal quality that machines can never possess – the human ability to reach out with warmth, whether through eye contact, physical touch, or words [2:17]. Showing your compassionate and caring nature will aid you in forging a successful network [3:37]. By expressing your compassion, you create an experience that distinguishes you. When you create an experience that distinguishes you, people remember you. When people remember you, your network grows quickly and exponentially.

How do you show compassion? You make it clear right away that the focus of the conversation is for the benefit and happiness of the other person. You don’t remind them of what they can do for you. Rather, you focus on what you might be able to do for them. You seek to listen rather than to be heard. You seek to understand rather than to be understood. You seek to learn what problems they are facing (i.e., what is your “pain”?) and you emphasize with their pain. You seek to understand what they have committed to do for their boss. You seek to understand how you can make them a hero. You ask: “How can I help you?” rather than “How can you help me?” You ask simple questions like: “How are you?” The surest way to become special in the eyes of other people is to show them compassion.

I believe that sharing compassion is one of the most underappreciated assets in business today [1:145]. Every conversation you have is an opportunity to risk being seen as weak or vulnerable. You risk revealing the real you. What’s the worst thing that can happen? They don’t respond in kind. So what, they probably weren’t worth knowing in the first place! Sharing compassion enables you to engender deep emotional bonds that both enrich and extend your network – for you and for those in your network. Sharing compassion creates a higher level of commitment from those in your network and it even provides you with a larger margin of error during those times when you are less than perfect [2:160]. Be a love-cat (Tim Sanders’ term), share your compassion!

4. Who do you network with?
You network with everybody. You include every fellow employee, every vendor partner, every friend, every person you meet at a seminar, every person who will connect with you via LinkedIn, and every peer that you serve with on a panel or governing body. Adding individuals to your network works best when it’s done with the under-lying philosophy that every person is potentially relevant to you and your network [2:119]. Each person in your network should be seen as a partner [1:139].

All of this takes work. It involves a lot of sweat equity. It means setting aside 3-5 time slots a week to “network” (e.g., coffee, office appointment, breakfast, lunch, dinner). It means you have to think hard not only about yourself but about other people. Once you are committed to reaching out to others in an attempt to expand the number of your connections, you’ll benefit from an ever-growing, vibrant network of people that you care for and who care for you [1:13].

5. What are the benefits of networking? [2:42-50]
The benefits from actively building and exercising a network are numerous. First, you build your brand. There are few ways to better market your brand than to be known for having a dynamic network or seen as a super-connector. Second, you create an experience. When you are seen as being knowledgeable, generous, and compassionate – you are not just a name, a service provider, or a product. You are fun, you are interesting, you are valuable. Third, you gain access to people’s attention. Others get only time. Fourth, you gain their trust and respect. People will presume that your arguments are correct, your recommendations are solid, and your referrals are valuable. Fifth, you receive exceptional feedback. People keep talking to you. You learn what crashes, what craters, what flies, and what soars. Finally, you gain personal satisfaction. You benefit from serving others.