I work with Millennials, and I have five of my own that I call children, so it thrilled me this weekend when I was reading the article below in Fast Company by Nancy Lublin, the CEO of Do Something, a really neat venture that you should check out. I also liked a couple of her comments on management, which I placed in bold below. Take a read…and then cut them some slack. Here is the link to the article: Why Bashing Millennials is Wrong.
Lazy. Entitled. Fickle. Freighted with their own inscrutable agendas. These are the kinds of things people say about cats -- and millennials. For today's managers, the generation born after 1980 is a favorite punching bag.
It's not hard to see why, given that they're the generation of Lindsay Lohan, Jersey Shore, and flip-flops as appropriate office footwear. While it's obviously silly to stereotype an entire generation, whether you're Tom Brokaw or me, so many people have spent so much time
criticizing the millennials that I think it's time an old lady stuck up for them.
I want to be clear: I'm not doing it because I'm a cougar. I am vouching for them because I see their strengths every day in the Do Something office; all but two of our 21 full-time staff are millennials. The very same characteristics that are frequently maligned are the very qualities that make millennials awesome employees. The trick, of course, is to know how to exploit them.
Let's start with the issue of how millennials multitask. While studies show that they think they're better at it than they actually are, the reality is they do it and they're not going to stop. A recent study found that millennials typically use up to seven devices, apps, and programs at once -- texting, G-chatting, tweeting, and listening to music while working on that memo.
Where I make a list and slowly cross things off one at a time, Aria Finger, Do Something's 27-year-old rock-star COO, will sit in front of three screens (two PC, one iPhone) and plow through three times as many tasks in the same amount of time. I see my role as defining a clear goal, giving her the resources to take the shot, and then getting out of the way while she dunks. Millennials don't have traditional boundaries or an old-fashioned sense of privacy.
They live out loud, sharing details of their lives with thousands of other people. Of course there are the obvious risks to this -- say, that unflattering, reputation-damaging photo that should have been deleted from Facebook -- but while you shake your cane at them for indulging in TMI, I see their openness as a great opportunity. For instance, when our summer intern @jimmyaungchen tweets and Facebooks about something he achieved at work, that's free marketing for Do Something to the 1,500 people in his immediate network. I now ask job applicants how many Facebook friends and Twitter followers they have.
We all know that one of the key traits of millennials is that they feel and act entitled. For their whole lives, they've been told that they're the best, that they can be anything they want to be, whether that's the next Mark Zuckerberg or the next American Idol. You say self-indulgent and self-obsessed, I say optimistic and self-confident. They are hungry for responsibility, and I give it to them. Earlier this year, Melanie Stevenson, who does business development at Do Something and is all of 26, walked up to me and said, "I'd like to expand us to five international markets by the end of this year." Awesome. Bold. Audacious. Every employer should want a dozen Melanies working for them. (We launched in Portugal in June, and expect to add three more countries this month.)
An entitled person tends to be high maintenance -- millennials may well be the poodles of humanity, demanding constant grooming and incessant praise. But celebrating small victories shouldn't be seen as just a way to kowtow to this generation's oversized egos; at a recent conference, Jack Welch said that it's a great -- and underused -- management tactic. We should learn to recognize the contributions of each team member more explicitly. We should give feedback more than once a year in a stilted annual performance review. If your people aren't worthy of praise, get rid of them. If they deserve praise, then be generous with it. Praise is one of the most affordable tools out there: It's free!
Some of you will have read each of the four points above and come up with some quiet (or maybe not-so-quiet) rebuttals. You know what? You're right. Each thing I've said about millennials can be read as a problem. But each one can also be viewed as an opportunity.
Maybe the real problem isn't this generation -- maybe it's that the rest of us don't manage them for greatness, for maximum effect. What we often forget is that this generational clash is a timeworn tale. Whatever side of the divide you're on, it feels new. Yet it happens over and over -- say, once a generation. And in the end, the kids will always win. They're sort of like cats.
Tuesday, September 28, 2010
Don't Know the First Step...Start Learning
We have a guest post today from our friends at Teach Street.
As any entrepreneur knows, getting a great idea is easy, it’s execution of that idea that’s really, really hard. You may have a beautiful business concept in your head but how do you make it happen? How do you begin?
Many entrepreneurs can spend months trying to answer this one question. Should you write a business plan? Make contacts in the industry? Look for funding? Start building a prototype of the product? There are so many options and when you’re new to the game none of them seem to be better or more effective than the other. Many entrepreneurs get hung up on all the options and succumb to “Analysis Paralysis.” They spend forever thinking about the best way of doing something without actually doing anything at all.
One of the main causes of this paralysis is lack of knowledge. Entrepreneurs don’t know anything about business plans or what they are good for so they don’t know if they should write one now or in the future when they get more funding. They don’t know anything about pitching venture capitalists and angel investors so they waste time wondering how to approach them. They don’t know this and they don’t know that, and because they don’t know, they wonder...and they waste time.
The obvious solution to this problem is to learn more. If the next step is unclear, spend more time learning about your industry (and entrepreneurship in general) until you have a pretty good idea of the next step to make. It’s true that you might take a step in the wrong direction, but once you take that step you’ll be able to understand exactly where you went wrong and be able to come up with a better approach.
One of the best ways to learn is to ask experts to provide you advice when you hit a wall. If you really want to get ahead of the crowd take some Entrepreneurship Classes and get some valuable one-on-one time with seasoned entrepreneurs who have “been there, done that” and want to help you get there as well.
As any entrepreneur knows, getting a great idea is easy, it’s execution of that idea that’s really, really hard. You may have a beautiful business concept in your head but how do you make it happen? How do you begin?
Many entrepreneurs can spend months trying to answer this one question. Should you write a business plan? Make contacts in the industry? Look for funding? Start building a prototype of the product? There are so many options and when you’re new to the game none of them seem to be better or more effective than the other. Many entrepreneurs get hung up on all the options and succumb to “Analysis Paralysis.” They spend forever thinking about the best way of doing something without actually doing anything at all.
One of the main causes of this paralysis is lack of knowledge. Entrepreneurs don’t know anything about business plans or what they are good for so they don’t know if they should write one now or in the future when they get more funding. They don’t know anything about pitching venture capitalists and angel investors so they waste time wondering how to approach them. They don’t know this and they don’t know that, and because they don’t know, they wonder...and they waste time.
The obvious solution to this problem is to learn more. If the next step is unclear, spend more time learning about your industry (and entrepreneurship in general) until you have a pretty good idea of the next step to make. It’s true that you might take a step in the wrong direction, but once you take that step you’ll be able to understand exactly where you went wrong and be able to come up with a better approach.
One of the best ways to learn is to ask experts to provide you advice when you hit a wall. If you really want to get ahead of the crowd take some Entrepreneurship Classes and get some valuable one-on-one time with seasoned entrepreneurs who have “been there, done that” and want to help you get there as well.
Wednesday, September 22, 2010
Lessons in Lots of Things...Especially Humility
Dave Berg shared this with me today. There is nothing I can add to this wonderful story that was written by Colonel James E Moschgat for the Wharton Leadership Digest.
William “Bill” Crawford certainly was an unimpressive figure, one you could easily overlook during a hectic day at the U.S. Air Force Academy. Mr. Crawford, as most of us referred to him back in the late 1970s, was our squadron
janitor.
While we cadets busied ourselves preparing for academic exams, athletic events, Saturday morning parades and room inspections, or never-ending leadership classes, Bill quietly moved about the squadron mopping and buffing floors, emptying trash cans, cleaning toilets, or just tidying up the mess 100 college-age kids can leave in a dormitory. Sadly, and for many years, few of us gave him much notice, rendering little more than a passing nod or throwing a curt, “G’morning!” in his direction as we hurried off to our daily duties.
Why? Perhaps it was because of the way he did his job-he always kept the
squadron area spotlessly clean, even the toilets and showers gleamed. Frankly,
he did his job so well, none of us had to notice or get involved. After all, cleaning
toilets was his job, not ours. Maybe it was is physical appearance that made him
disappear into the background. Bill didn’t move very quickly and, in fact, you
could say he even shuffled a bit, as if he suffered from some sort of injury. His
gray hair and wrinkled face made him appear ancient to a group of young cadets.
And his crooked smile, well, it looked a little funny. Face it, Bill was an old man
working in a young person’s world. What did he have to offer us on a personal
level?
Finally, maybe it was Mr. Crawford’s personality that rendered him almost
invisible to the young people around him. Bill was shy, almost painfully so. He
seldom spoke to a cadet unless they addressed him first, and that didn’t happen
very often. Our janitor always buried himself in his work, moving about with
stooped shoulders, a quiet gait, and an averted gaze. If he noticed the hustle
and bustle of cadet life around him, it was hard to tell. So, for whatever reason,
Bill blended into the woodwork and became just another fixture around the
squadron. The Academy, one of our nation’s premier leadership laboratories,
kept us busy from dawn till dusk. And Mr. Crawford...well, he was just a janitor.
That changed one fall Saturday afternoon in 1976. I was reading a book about
World War II and the tough Allied ground campaign in Italy, when I stumbled
across an incredible story. On September 13, 1943, a Private William Crawford
from Colorado, assigned to the 36th Infantry Division, had been involved in some
bloody fighting on Hill 424 near Altavilla, Italy. The words on the page leapt out at
me: “in the face of intense and overwhelming hostile fire ... with no regard for
personal safety ... on his own initiative, Private Crawford single-handedly
attacked fortified enemy positions.” It continued, “for conspicuous gallantry and
intrepidity at risk of life above and beyond the call of duty, the President of the
United States ...”
“Holy cow,” I said to my roommate, “you’re not going to believe this, but I think
our janitor is a Medal of Honor winner.” We all knew Mr. Crawford was a WWII
Army vet, but that didn’t keep my friend from looking at me as if I was some sort
of alien being. Nonetheless, we couldn’t wait to ask Bill about the story on
Monday. We met Mr. Crawford bright and early Monday and showed him the
page in question from the book, anticipation and doubt in our faces. He starred
at it for a few silent moments and then quietly uttered something like, “Yep, that’s
me.”
Mouths agape, my roommate and I looked at one another, then at the book, and quickly back at our janitor. Almost at once we both stuttered, “Why didn’t you ever tell us about it?”
He slowly replied after some thought, “That was one day in my life and it happened a long time ago.”
I guess we were all at a loss for words after that. We had to hurry off to class and Bill, well, he had chores to attend to. However, after that brief exchange, things were never again the same around our squadron. Word spread like wildfire among the cadets that we had a hero in our midst-Mr. Crawford, our janitor, had won the Medal! Cadets who had once passed by Bill with hardly a glance, now greeted him with a smile and a respectful, “Good morning, Mr. Crawford.”
Those who had before left a mess for the “janitor” to clean up started taking it
upon themselves to put things in order. Most cadets routinely stopped to talk to
Bill throughout the day and we even began inviting him to our formal squadron
functions. He’d show up dressed in a conservative dark suit and quietly talk to
those who approached him, the only sign of his heroics being a simple blue, starspangled lapel pin.
Almost overnight, Bill went from being a simple fixture in our squadron to one of
our teammates. Mr. Crawford changed too, but you had to look closely to notice
the difference. After that fall day in 1976, he seemed to move with more
purpose, his shoulders didn’t seem to be as stooped, he met our greetings with a
direct gaze and a stronger “good morning” in return, and he flashed his crooked
smile more often. The squadron gleamed as always, but everyone now seemed
to notice it more. Bill even got to know most of us by our first names, something
that didn’t happen often at the Academy. While no one ever formally
acknowledged the change, I think we became Bill’s cadets and his squadron.
As often happens in life, events sweep us away from those in our past. The last time I saw Bill was on graduation day in June 1977. As I walked out of the squadron for the last time, he shook my hand and simply said, “Good luck, young man.”
With that, I embarked on a career that has been truly lucky and blessed. Mr. Crawford continued to work at the Academy and eventually retired in his native Colorado. (Note: William Crawford passed away in 2000. He is the only U.S. Army veteran and
sole Medal of Honor winner to be buried in the cemetery of the U.S. Air Force
Academy.)
A wise person once said, “It’s not life that’s important, but
those you meet along the way that make the difference.” Bill was one who made
a difference for me. While I haven’t seen Mr. Crawford in over twenty years,
he’d probably be surprised to know I think of him often. Bill Crawford, our janitor,
taught me many valuable, unforgettable leadership lessons. Here are ten I’d like
to share with you.
1. Be Cautious of Labels. Labels you place on people may define your
relationship to them and bound their potential. Sadly, and for a long time, we
labeled Bill as just a janitor, but he was so much more. Therefore, be cautious of
a leader who callously says, “Hey, he’s just an Airman.” Likewise, don’t tolerate
the O-1, who says, “I can’t do that, I’m just a lieutenant.”
2. Everyone Deserves Respect. Because we hung the “janitor” label on Mr.
Crawford, we often wrongly treated him with less respect than others around us.
He deserved much more, and not just because he was a Medal of Honor winner.
Bill deserved respect because he was a janitor, walked among us, and was a
part of our team.
3. Courtesy Makes a Difference. Be courteous to all around you, regardless of
rank or position. Military customs, as well as common courtesies, help bond a
team. When our daily words to Mr. Crawford turned from perfunctory “hellos” to
heartfelt greetings, his demeanor and personality outwardly changed. It made a
difference for all of us.
4. Take Time to Know Your People. Life in the military is hectic, but that’s no
excuse for not knowing the people you work for and with. For years a hero
walked among us at the Academy and we never knew it. Who are the heroes
that walk in your midst?
5. Anyone Can Be a Hero. Mr. Crawford certainly didn’t fit anyone’s standard
definition of a hero. Moreover, he was just a private on the day he won his
Medal. Don’t sell your people short, for any one of them may be the hero who
rises to the occasion when duty calls. On the other hand, it’s easy to turn to your
proven performers when the chips are down, but don’t ignore the rest of the
team. Today’s rookie could and should be tomorrow’s superstar.
6. Leaders Should Be Humble. Most modern day heroes and some leaders are
anything but humble, especially if you calibrate your “hero meter” on today’s
athletic fields. End zone celebrations and self-aggrandizement are what we’ve
come to expect from sports greats. Not Mr. Crawford-he was too busy working to
celebrate his past heroics. Leaders would be well-served to do the same.
7. Life Won’t Always Hand You What You Think You Deserve. We in the military
work hard and, dang it, we deserve recognition, right? However, sometimes you
just have to persevere, even when accolades don’t come your way. Perhaps you
weren’t nominated for junior officer or airman of the quarter as you thought you
should - don’t let that stop you.
8. Don’t pursue glory; pursue excellence. Private Bill Crawford didn’t pursue
glory; he did his duty and then swept floors for a living. No job is beneath a
Leader. If Bill Crawford, a Medal of Honor winner, could clean latrines and smile,
is there a job beneath your dignity? Think about it.
9. Pursue Excellence. No matter what task life hands you, do it well. Dr. Martin
Luther King said, “If life makes you a street sweeper, be the best street sweeper
you can be.” Mr. Crawford modeled that philosophy and helped make our
dormitory area a home.
10. Life is a Leadership Laboratory. All too often we look to some school or PME
class to teach us about leadership when, in fact, life is a leadership laboratory.
Those you meet everyday will teach you enduring lessons if you just take time to
stop, look and listen. I spent four years at the Air Force Academy, took dozens
of classes, read hundreds of books, and met thousands of great people. I
gleaned leadership skills from all of them, but one of the people I remember most
is Mr. Bill Crawford and the lessons he unknowingly taught. Don’t miss your
opportunity to learn.
Bill Crawford was a janitor. However, he was also a teacher, friend, role model
and one great American hero. Thanks, Mr. Crawford, for some valuable
leadership lessons.
William “Bill” Crawford certainly was an unimpressive figure, one you could easily overlook during a hectic day at the U.S. Air Force Academy. Mr. Crawford, as most of us referred to him back in the late 1970s, was our squadron
janitor.
While we cadets busied ourselves preparing for academic exams, athletic events, Saturday morning parades and room inspections, or never-ending leadership classes, Bill quietly moved about the squadron mopping and buffing floors, emptying trash cans, cleaning toilets, or just tidying up the mess 100 college-age kids can leave in a dormitory. Sadly, and for many years, few of us gave him much notice, rendering little more than a passing nod or throwing a curt, “G’morning!” in his direction as we hurried off to our daily duties.
Why? Perhaps it was because of the way he did his job-he always kept the
squadron area spotlessly clean, even the toilets and showers gleamed. Frankly,
he did his job so well, none of us had to notice or get involved. After all, cleaning
toilets was his job, not ours. Maybe it was is physical appearance that made him
disappear into the background. Bill didn’t move very quickly and, in fact, you
could say he even shuffled a bit, as if he suffered from some sort of injury. His
gray hair and wrinkled face made him appear ancient to a group of young cadets.
And his crooked smile, well, it looked a little funny. Face it, Bill was an old man
working in a young person’s world. What did he have to offer us on a personal
level?
Finally, maybe it was Mr. Crawford’s personality that rendered him almost
invisible to the young people around him. Bill was shy, almost painfully so. He
seldom spoke to a cadet unless they addressed him first, and that didn’t happen
very often. Our janitor always buried himself in his work, moving about with
stooped shoulders, a quiet gait, and an averted gaze. If he noticed the hustle
and bustle of cadet life around him, it was hard to tell. So, for whatever reason,
Bill blended into the woodwork and became just another fixture around the
squadron. The Academy, one of our nation’s premier leadership laboratories,
kept us busy from dawn till dusk. And Mr. Crawford...well, he was just a janitor.
That changed one fall Saturday afternoon in 1976. I was reading a book about
World War II and the tough Allied ground campaign in Italy, when I stumbled
across an incredible story. On September 13, 1943, a Private William Crawford
from Colorado, assigned to the 36th Infantry Division, had been involved in some
bloody fighting on Hill 424 near Altavilla, Italy. The words on the page leapt out at
me: “in the face of intense and overwhelming hostile fire ... with no regard for
personal safety ... on his own initiative, Private Crawford single-handedly
attacked fortified enemy positions.” It continued, “for conspicuous gallantry and
intrepidity at risk of life above and beyond the call of duty, the President of the
United States ...”
“Holy cow,” I said to my roommate, “you’re not going to believe this, but I think
our janitor is a Medal of Honor winner.” We all knew Mr. Crawford was a WWII
Army vet, but that didn’t keep my friend from looking at me as if I was some sort
of alien being. Nonetheless, we couldn’t wait to ask Bill about the story on
Monday. We met Mr. Crawford bright and early Monday and showed him the
page in question from the book, anticipation and doubt in our faces. He starred
at it for a few silent moments and then quietly uttered something like, “Yep, that’s
me.”
Mouths agape, my roommate and I looked at one another, then at the book, and quickly back at our janitor. Almost at once we both stuttered, “Why didn’t you ever tell us about it?”
He slowly replied after some thought, “That was one day in my life and it happened a long time ago.”
I guess we were all at a loss for words after that. We had to hurry off to class and Bill, well, he had chores to attend to. However, after that brief exchange, things were never again the same around our squadron. Word spread like wildfire among the cadets that we had a hero in our midst-Mr. Crawford, our janitor, had won the Medal! Cadets who had once passed by Bill with hardly a glance, now greeted him with a smile and a respectful, “Good morning, Mr. Crawford.”
Those who had before left a mess for the “janitor” to clean up started taking it
upon themselves to put things in order. Most cadets routinely stopped to talk to
Bill throughout the day and we even began inviting him to our formal squadron
functions. He’d show up dressed in a conservative dark suit and quietly talk to
those who approached him, the only sign of his heroics being a simple blue, starspangled lapel pin.
Almost overnight, Bill went from being a simple fixture in our squadron to one of
our teammates. Mr. Crawford changed too, but you had to look closely to notice
the difference. After that fall day in 1976, he seemed to move with more
purpose, his shoulders didn’t seem to be as stooped, he met our greetings with a
direct gaze and a stronger “good morning” in return, and he flashed his crooked
smile more often. The squadron gleamed as always, but everyone now seemed
to notice it more. Bill even got to know most of us by our first names, something
that didn’t happen often at the Academy. While no one ever formally
acknowledged the change, I think we became Bill’s cadets and his squadron.
As often happens in life, events sweep us away from those in our past. The last time I saw Bill was on graduation day in June 1977. As I walked out of the squadron for the last time, he shook my hand and simply said, “Good luck, young man.”
With that, I embarked on a career that has been truly lucky and blessed. Mr. Crawford continued to work at the Academy and eventually retired in his native Colorado. (Note: William Crawford passed away in 2000. He is the only U.S. Army veteran and
sole Medal of Honor winner to be buried in the cemetery of the U.S. Air Force
Academy.)
A wise person once said, “It’s not life that’s important, but
those you meet along the way that make the difference.” Bill was one who made
a difference for me. While I haven’t seen Mr. Crawford in over twenty years,
he’d probably be surprised to know I think of him often. Bill Crawford, our janitor,
taught me many valuable, unforgettable leadership lessons. Here are ten I’d like
to share with you.
1. Be Cautious of Labels. Labels you place on people may define your
relationship to them and bound their potential. Sadly, and for a long time, we
labeled Bill as just a janitor, but he was so much more. Therefore, be cautious of
a leader who callously says, “Hey, he’s just an Airman.” Likewise, don’t tolerate
the O-1, who says, “I can’t do that, I’m just a lieutenant.”
2. Everyone Deserves Respect. Because we hung the “janitor” label on Mr.
Crawford, we often wrongly treated him with less respect than others around us.
He deserved much more, and not just because he was a Medal of Honor winner.
Bill deserved respect because he was a janitor, walked among us, and was a
part of our team.
3. Courtesy Makes a Difference. Be courteous to all around you, regardless of
rank or position. Military customs, as well as common courtesies, help bond a
team. When our daily words to Mr. Crawford turned from perfunctory “hellos” to
heartfelt greetings, his demeanor and personality outwardly changed. It made a
difference for all of us.
4. Take Time to Know Your People. Life in the military is hectic, but that’s no
excuse for not knowing the people you work for and with. For years a hero
walked among us at the Academy and we never knew it. Who are the heroes
that walk in your midst?
5. Anyone Can Be a Hero. Mr. Crawford certainly didn’t fit anyone’s standard
definition of a hero. Moreover, he was just a private on the day he won his
Medal. Don’t sell your people short, for any one of them may be the hero who
rises to the occasion when duty calls. On the other hand, it’s easy to turn to your
proven performers when the chips are down, but don’t ignore the rest of the
team. Today’s rookie could and should be tomorrow’s superstar.
6. Leaders Should Be Humble. Most modern day heroes and some leaders are
anything but humble, especially if you calibrate your “hero meter” on today’s
athletic fields. End zone celebrations and self-aggrandizement are what we’ve
come to expect from sports greats. Not Mr. Crawford-he was too busy working to
celebrate his past heroics. Leaders would be well-served to do the same.
7. Life Won’t Always Hand You What You Think You Deserve. We in the military
work hard and, dang it, we deserve recognition, right? However, sometimes you
just have to persevere, even when accolades don’t come your way. Perhaps you
weren’t nominated for junior officer or airman of the quarter as you thought you
should - don’t let that stop you.
8. Don’t pursue glory; pursue excellence. Private Bill Crawford didn’t pursue
glory; he did his duty and then swept floors for a living. No job is beneath a
Leader. If Bill Crawford, a Medal of Honor winner, could clean latrines and smile,
is there a job beneath your dignity? Think about it.
9. Pursue Excellence. No matter what task life hands you, do it well. Dr. Martin
Luther King said, “If life makes you a street sweeper, be the best street sweeper
you can be.” Mr. Crawford modeled that philosophy and helped make our
dormitory area a home.
10. Life is a Leadership Laboratory. All too often we look to some school or PME
class to teach us about leadership when, in fact, life is a leadership laboratory.
Those you meet everyday will teach you enduring lessons if you just take time to
stop, look and listen. I spent four years at the Air Force Academy, took dozens
of classes, read hundreds of books, and met thousands of great people. I
gleaned leadership skills from all of them, but one of the people I remember most
is Mr. Bill Crawford and the lessons he unknowingly taught. Don’t miss your
opportunity to learn.
Bill Crawford was a janitor. However, he was also a teacher, friend, role model
and one great American hero. Thanks, Mr. Crawford, for some valuable
leadership lessons.
Tuesday, September 21, 2010
Entrepreneurship at Syracuse University Improves in the Rankings
The Princeton Review and Entrepreneur Magazine have released their annual listing of the top 25 undergraduate and 25 graduate programs in entrepreneurship and I’m pleased to announce that the Entrepreneurship and Emerging Enterprises Program at the Whitman School of Management at Syracuse University is now ranked as the seventh best program in the United States. This ranking is up from number thirteen last year. Our graduate program in entrepreneurship is now ranked number 21.
From today’s USA Today:
The Princeton Review selected these 50 programs from about 2,000 surveyed, saying they satisfy multiple criteria within three main categories: students and faculty, academics and requirements, and enriching experiences outside the classroom.
The top schools stand out because they have a high number of experienced faculty, students launching businesses after graduation, and experiences outside of the class room, says Princeton Review senior vice president and publisher Rob Franek.
"Students are working with successful entrepreneurs who are working with the primary source and then bringing that experience back down to the classroom for that student," says Franek.
He adds that these schools often offer entrepreneurship competitions and classes to students of any major, creating a "culture of entrepreneurship."
Over the past few years, the number of entrepreneurial programs has grown tremendously, especially as universities recognize the value of interdisciplinary studies, says Franek.
My thanks to all of our students, alumni, faculty, staff and friends of the program who have helped to create this fantastic program at Syracuse University!
From today’s USA Today:
The Princeton Review selected these 50 programs from about 2,000 surveyed, saying they satisfy multiple criteria within three main categories: students and faculty, academics and requirements, and enriching experiences outside the classroom.
The top schools stand out because they have a high number of experienced faculty, students launching businesses after graduation, and experiences outside of the class room, says Princeton Review senior vice president and publisher Rob Franek.
"Students are working with successful entrepreneurs who are working with the primary source and then bringing that experience back down to the classroom for that student," says Franek.
He adds that these schools often offer entrepreneurship competitions and classes to students of any major, creating a "culture of entrepreneurship."
Over the past few years, the number of entrepreneurial programs has grown tremendously, especially as universities recognize the value of interdisciplinary studies, says Franek.
My thanks to all of our students, alumni, faculty, staff and friends of the program who have helped to create this fantastic program at Syracuse University!
Don't Be an Enabler
Dwain DeVille of the Bikers Guide to Business sent over this which comes from Bob Whipple , the chief executive officer of Leadergrow Inc., a Rochester, N.Y.-based leadership consultancy. As entrepreneurs, the subject of leadership is always on our minds. Take a look at this post on being an “enabler.”
Confrontation is part of being a manager. However, too often a manager’s aversion to confronting a problem employee results in accommodation of bad behaviors. In a typical scenario, the problem festers for months, even years—until escalation of the issue reaches a tipping point. By this time, the problem is horrendous and more difficult to tackle.
I once worked with an employee who suffered from acute alcoholism. His abusive behavior was enabled because his supervisor did not dare confront him. Finally, the situation became intolerable. When the behavior was finally addressed, the employee had been out of control for 15 years. His reaction to the manager was, "What took you guys so long?" Following months of treatment, he became sober and went on to be a positive contributor.
Every manager deals with situations such as this one. While they may not be as blatantly offensive as the behavior in this example, behaviors such as tardiness, taking excessive smoke breaks or bullying are destructive nonetheless.
A common example: When workers stretch break times from the standard 20 minutes to more than 30 minutes actually sitting in the break room. The total duration is more like 45 minutes from the time work stops until it resumes. The supervisor does not want to appear to be a "by the book" manager, so ignores the problem every day. When the situation gets too far out of control, the unfortunate supervisor is forced to play the bad guy, and everyone suffers a loss in morale.
Taking action requires courage that many leaders do not have. They rationalize their inaction with logic like:
Maybe the problem will correct itself if I just leave it alone.
Perhaps I will be relocated or promoted soon, and the next person can deal with this.
Confronting the issue would be so traumatic that it would do more harm than good.
We have found viable workaround measures.
We have bigger problems. Exposing this situation would be a distraction from critical work.
Managing these dilemmas requires knowing the exact moment to intervene and doing so in a way that preserves trust with the individual and the group. Once you let an employee get away with bad behavior, it becomes harder to address the next time, and so on.
For that reason, intervene when the issue first arises. As a supervisor, you need to make the rules known and follow them yourself with few and well-justified exceptions. It is not possible to treat everyone the same at all times, but you must enforce the rules consistently in a way that people recognize as appropriate and disciplined.
Are You Enabling?
You may be enabling a problem employee if:
You are working around a "problem."
Employees accuse you of "playing favorites."
Employees comment that they do not understand documented policies.
You have discussions on how to handle an out-of-control person.
A well-known issue is denied or downplayed.
You fear retaliation or sabotage will result if you enforce rules.
Cliques form to protect certain individuals.
Some individuals are victims of pranks or horseplay.
Dis-Enabling
If you recognize one or more of the above situations happening in your department, you can get back on track. In addition to dealing with the problem employee one on one, address all employees in a meeting to signal that the enabling will stop. In this meeting, review policies, ascertain understanding and solicit questions for clarification of the rules.
Ask the group how policies could be misunderstood or abused and for suggestions to close those loopholes for consistency. When people have a hand in creating the rules, they tend to remember and follow them better.
As a leader, taking responsible action can help you regain control, credibility and respect.
You will handle problems early when they are easier to correct, and employees will no longer constantly push the boundaries of acceptable business behavior.
Confrontation is part of being a manager. However, too often a manager’s aversion to confronting a problem employee results in accommodation of bad behaviors. In a typical scenario, the problem festers for months, even years—until escalation of the issue reaches a tipping point. By this time, the problem is horrendous and more difficult to tackle.
I once worked with an employee who suffered from acute alcoholism. His abusive behavior was enabled because his supervisor did not dare confront him. Finally, the situation became intolerable. When the behavior was finally addressed, the employee had been out of control for 15 years. His reaction to the manager was, "What took you guys so long?" Following months of treatment, he became sober and went on to be a positive contributor.
Every manager deals with situations such as this one. While they may not be as blatantly offensive as the behavior in this example, behaviors such as tardiness, taking excessive smoke breaks or bullying are destructive nonetheless.
A common example: When workers stretch break times from the standard 20 minutes to more than 30 minutes actually sitting in the break room. The total duration is more like 45 minutes from the time work stops until it resumes. The supervisor does not want to appear to be a "by the book" manager, so ignores the problem every day. When the situation gets too far out of control, the unfortunate supervisor is forced to play the bad guy, and everyone suffers a loss in morale.
Taking action requires courage that many leaders do not have. They rationalize their inaction with logic like:
Maybe the problem will correct itself if I just leave it alone.
Perhaps I will be relocated or promoted soon, and the next person can deal with this.
Confronting the issue would be so traumatic that it would do more harm than good.
We have found viable workaround measures.
We have bigger problems. Exposing this situation would be a distraction from critical work.
Managing these dilemmas requires knowing the exact moment to intervene and doing so in a way that preserves trust with the individual and the group. Once you let an employee get away with bad behavior, it becomes harder to address the next time, and so on.
For that reason, intervene when the issue first arises. As a supervisor, you need to make the rules known and follow them yourself with few and well-justified exceptions. It is not possible to treat everyone the same at all times, but you must enforce the rules consistently in a way that people recognize as appropriate and disciplined.
Are You Enabling?
You may be enabling a problem employee if:
You are working around a "problem."
Employees accuse you of "playing favorites."
Employees comment that they do not understand documented policies.
You have discussions on how to handle an out-of-control person.
A well-known issue is denied or downplayed.
You fear retaliation or sabotage will result if you enforce rules.
Cliques form to protect certain individuals.
Some individuals are victims of pranks or horseplay.
Dis-Enabling
If you recognize one or more of the above situations happening in your department, you can get back on track. In addition to dealing with the problem employee one on one, address all employees in a meeting to signal that the enabling will stop. In this meeting, review policies, ascertain understanding and solicit questions for clarification of the rules.
Ask the group how policies could be misunderstood or abused and for suggestions to close those loopholes for consistency. When people have a hand in creating the rules, they tend to remember and follow them better.
As a leader, taking responsible action can help you regain control, credibility and respect.
You will handle problems early when they are easier to correct, and employees will no longer constantly push the boundaries of acceptable business behavior.
The Triumphs, Trip-Ups and Future Trajectory of Online Education
Over the past few years, I’ve been following the state of for-profit and online colleges and universities. It’s been interesting to note the wide range of schooling that is available today…with some of it being very high quality and others not so. While I was living in Florida, one of my friends was the co-CEO of an outstanding for-profit school that I would have been proud to have one of my kids graduate from. In addition, there has been a significant amount written in recent weeks on loan repayment percentages from the for-profit schools. As a result, I thought it would be interesting to have a post contributed by someone who follows the world of online colleges and universities very closely. So today, we have a guest post provided by Tim Handorf, who writes on the topics of online colleges and universities. He welcomes your comments at his email: tim.handorf.20@googlemail.com .
Over the past few years, online education programs have grown dramatically. Online, for-profit schools showed a modest enrollment during its initial stages--365,000 students according to a recent article published in The Hill--but now boasts a massive student body of nearly two million. These figures represent a five hundred percent growth.
What, then, is the reason behind these staggering numbers? For one, online schooling is seen as a viable alternative to traditional universities in that they offer what "brick-and-mortar" institutions do not--convenience, ease of access, and a lessened time commitment.
During tough economic times, for many people, a traditional four-year university is a luxury. While one could argue that there is inherent value in pursuing an education with a more intellectual bent, those who are keen on working while they pursue a degree are looking for a more basic education that's specifically focused on career outcomes.
Another advantage of online schooling is implied in its name--online. Now, virtually every aspect of our lives finds its appropriate counterpart online, and an education shouldn't be any different. Traditional universities have been slow on the uptake of leveraging the power of the Internet to enhance the learning experience, while online schools have picked up the slack. Although traditional universities have come a long way in terms of online technological innovation, online schools still have the upper hand in this arena.
Recently, however, online, for-profit schools have come under fire from the government. The situation is complicated, but essentially many online schools have been accused of engaging in illegal recruitment practices, embezzling government funds, and making false claims about the value of their degrees. These recent scandals have caused stock in for-profit education to drop pretty dramatically, and even though many predict that these instabilities are only temporary, and investors would do well to pick up these stocks now that they are cheap and could bounce back relatively soon, investors remain wary.
Still, these recent scandals are perhaps only a tiny hiccup in the recent business success of online education. While reform is certainly needed, as pointed out in a recent Washington Times op-ed, there remains pretty clear room for growth.
Why? This is because online schools serve a population that simply does not benefit as much from traditional higher education. Some on the online school bandwagon decry traditional education and prophecy its eventual demise. This, to me, is an extreme opinion. It's not that either traditional schools are "bad" or online schools are "worthless". They simply serve to educate two different types of people.
And the group of people that online schooling targets and seeks to educate is a growing population. Not everyone wants to or is cut out for strictly academic teaching and learning. Health professionals are desperately needed in this country, and online schools are more compatible to these careers, which require certified employees with very specific training. As such, if online schools can fix their internal problems, then they represent an entrepreneurial force that will take both the Internet and the education sector as a whole by storm.
Over the past few years, online education programs have grown dramatically. Online, for-profit schools showed a modest enrollment during its initial stages--365,000 students according to a recent article published in The Hill--but now boasts a massive student body of nearly two million. These figures represent a five hundred percent growth.
What, then, is the reason behind these staggering numbers? For one, online schooling is seen as a viable alternative to traditional universities in that they offer what "brick-and-mortar" institutions do not--convenience, ease of access, and a lessened time commitment.
During tough economic times, for many people, a traditional four-year university is a luxury. While one could argue that there is inherent value in pursuing an education with a more intellectual bent, those who are keen on working while they pursue a degree are looking for a more basic education that's specifically focused on career outcomes.
Another advantage of online schooling is implied in its name--online. Now, virtually every aspect of our lives finds its appropriate counterpart online, and an education shouldn't be any different. Traditional universities have been slow on the uptake of leveraging the power of the Internet to enhance the learning experience, while online schools have picked up the slack. Although traditional universities have come a long way in terms of online technological innovation, online schools still have the upper hand in this arena.
Recently, however, online, for-profit schools have come under fire from the government. The situation is complicated, but essentially many online schools have been accused of engaging in illegal recruitment practices, embezzling government funds, and making false claims about the value of their degrees. These recent scandals have caused stock in for-profit education to drop pretty dramatically, and even though many predict that these instabilities are only temporary, and investors would do well to pick up these stocks now that they are cheap and could bounce back relatively soon, investors remain wary.
Still, these recent scandals are perhaps only a tiny hiccup in the recent business success of online education. While reform is certainly needed, as pointed out in a recent Washington Times op-ed, there remains pretty clear room for growth.
Why? This is because online schools serve a population that simply does not benefit as much from traditional higher education. Some on the online school bandwagon decry traditional education and prophecy its eventual demise. This, to me, is an extreme opinion. It's not that either traditional schools are "bad" or online schools are "worthless". They simply serve to educate two different types of people.
And the group of people that online schooling targets and seeks to educate is a growing population. Not everyone wants to or is cut out for strictly academic teaching and learning. Health professionals are desperately needed in this country, and online schools are more compatible to these careers, which require certified employees with very specific training. As such, if online schools can fix their internal problems, then they represent an entrepreneurial force that will take both the Internet and the education sector as a whole by storm.
Friday, September 17, 2010
Congress and the Entrepreneur
If you’re like me and wondering what the impact on entrepreneurs will be of the new legislation that just cleared Congress, here is a perspective from Jeff Cornwall at Belmont University. Jeff’s blog, The Entrepreneurial Mind is always good reading, as is yesterday’s post, Small Business Bill Won’t Help What Ails Small Business. I’m still trying to catch up on my reading on this bill, so my mind isn’t made up yet…what do you think?
Tuesday, September 14, 2010
Someone is Listening
As we continue to move further into the brave new world of social media, an interesting and a bit disturbing article on how one company is handling the effort. Take a look at Gatorade’s Mission: Sell More Drinks in today’s Wall Street Journal. As you can see from the article, be careful what you say…Gatorade is listening!
Wednesday, September 1, 2010
Mistakes that Startups Make
If you want to engage an entrepreneur in conversation, just ask them if about the mistakes they made. For most of us, mistakes are the currency of the trade; we make mistakes…we learn from them…we go back and make more, different mistakes. So, I found the article by Rosalind Resnick in today’s Wall Street Journal Ten Mistakes That Startup Entrepreneurs Make interesting reading. While I don’t necessarily agree with all of them, certainly numbers 1,2,4 and 9 are in my top listing of mistakes that startups make. The other two that should definitely be on the list…not having a clear understanding of who is your customer and not doing some(enough) primary research.
Here is Rosalind’s top ten…definitely worth considering
Here, in my experience, are the top 10 mistakes that entrepreneurs make when starting a company:
1. Going it alone. It's difficult to build a scalable business if you're the only person involved. True, a solo public relations, web design or consulting firm may require little capital to start, and the price of hiring even one administrative assistant, sales representative or entry-level employee can eat up a big chunk of your profits. The solution: Make sure there's enough margin in your pricing to enable you to bring in other people. Clients generally don't mind outsourcing as long as they can still get face time with you, the skilled professional who's managing the project.
2. Asking too many people for advice. It's always good to get input from experts, especially experienced entrepreneurs who've built and sold successful companies in your industry. But getting too many people's opinions can delay your decision so long that your company never gets out of the starting gate. The answer: Assemble a solid advisory board that you can tap on a regular basis but run the day-to-day yourself. Says Elyissia Wassung, chief executive of 2 Chicks With Chocolate Inc., a Matawan, N.J., chocolate company, "Pull in your [advisory] team for bi-weekly or, at the very least, monthly conference calls. You'll wish you did it sooner!"
3. Spending too much time on product development, not enough on sales. While it's hard to build a great company without a great product, entrepreneurs who spend too much time tinkering may lose customers to a competitor with a stronger sales organization. "I call [this misstep] the 'Field of Dreams' of entrepreneurship. If you build it, they will buy it," says Sanjyot Dunung, CEO of Atma Global, Inc., a New York software publisher, who has made this mistake in her own business. "If you don't keep one eye firmly focused on sales, you'll likely run out of money and energy before you can successfully get your product to market."
4. Targeting too small a market. It's tempting to try to corner a niche, but your company's growth will quickly hit a wall if the market you're targeting is too tiny. Think about all the high school basketball stars who dream of playing in the NBA. Because there are only 30 teams and each team employs only a handful of players, the chances that your son will become the next Michael Jordan are pretty slim. The solution: Pick a bigger market that gives you the chance to grab a slice of the pie even if your company remains a smaller player.
5. Entering a market with no distribution partner. It's easier to break into a market if there's already a network of agents, brokers, manufacturers' reps and other third-party resellers ready, willing and able to sell your product into existing distribution channels. Fashion, food, media and other major industries work this way; others are not so lucky. That's why service businesses like public relations firms, yoga studios and pet-grooming companies often struggle to survive, alternating between feast and famine. The solution: Make a list of potential referral sources before you start your business and ask them if they'd be willing to send business your way.
6. Overpaying for customers. Spending big on advertising may bring in lots of customers, but it's a money-losing strategy if your company can't turn those dollars into life-time customer value. A magazine or web site that spends $500 worth of advertising to acquire a customer who pays $20 a month and cancels his or her subscription at the end of the year is simply pouring money down the drain. The solution: Test, measure, then test again. Once you've done enough testing to figure out how to make more money selling products and services to your customers than you spend acquiring those customers in the first place, roll out a major marketing campaign. (See related article, "On a Tight Budget? How to Land a Client.")
7. Raising too little capital. Many start-ups assume that all they need is enough money to rent space, buy equipment, stock inventory and drive customers through the door. What they often forget is that they also need capital to pay for salaries, utilities, insurance and other overhead expenses until their company starts turning a profit. Unless you're running the kind of business where everybody's working for sweat equity and deferring compensation, you'll need to raise enough money to tide you over until your revenues can cover your expenses and generate positive cash flow. The solution: Calculate your start-up costs before you open your doors, not afterwards.
8. Raising too much capital. Believe it or not, raising too much money can be a problem, too. Over-funded companies tend to get big and bloated, hiring too many people too soon and wasting valuable resources on trade show booths, parties, image ads and other frills. When the money runs out and investors lose patience (which is what happened 10 years ago when the dot-com market melted down), start-ups that frittered away their cash will have to close their doors. No matter how much money you raise at the outset, remember to bank some for a rainy day.
9. Not having a business plan. While not every company needs a formal business plan, a start-up that requires significant capital to grow and more than a year to turn a profit should map out how much time and money it's going to take to get to its destination. This means thinking through the key metrics that make your business tick and building a model to spin off three years of sales, profits and cash-flow projections. "I wasted 10 years [fooling around] thinking like an artist and not a business person," says Louis Piscione, president of Avanti Media Group, a New Jersey company that produces videos for corporate and private events. "I learned that you have to put some of your creative genius toward a business plan that forecasts and sets goals for growth and success." (See related article, "Are Business Plans a Waste of Time?")
10. Over-thinking your business plan. While many entrepreneurs I've met engage in seat-of-the-pants decision-making and fail to do their homework, other entrepreneurs are afraid to pull the trigger until they're 100% certain that their plan will succeed. One lawyer I worked with several years ago was so skittish about leaving his six-figure job to launch his business that he never met with a single bank or investor who might have funded his company. The truth is that a business plan is not a crystal ball that can predict the future. At a certain point, you have to close your eyes and take the leap of faith.
Despite the many books and articles that have been written about entrepreneurship, it's just not possible to start a company without making a few mistakes along the way. Just try to avoid making any mistake so large that your company can't get back on its feet to fight another day.
Here is Rosalind’s top ten…definitely worth considering
Here, in my experience, are the top 10 mistakes that entrepreneurs make when starting a company:
1. Going it alone. It's difficult to build a scalable business if you're the only person involved. True, a solo public relations, web design or consulting firm may require little capital to start, and the price of hiring even one administrative assistant, sales representative or entry-level employee can eat up a big chunk of your profits. The solution: Make sure there's enough margin in your pricing to enable you to bring in other people. Clients generally don't mind outsourcing as long as they can still get face time with you, the skilled professional who's managing the project.
2. Asking too many people for advice. It's always good to get input from experts, especially experienced entrepreneurs who've built and sold successful companies in your industry. But getting too many people's opinions can delay your decision so long that your company never gets out of the starting gate. The answer: Assemble a solid advisory board that you can tap on a regular basis but run the day-to-day yourself. Says Elyissia Wassung, chief executive of 2 Chicks With Chocolate Inc., a Matawan, N.J., chocolate company, "Pull in your [advisory] team for bi-weekly or, at the very least, monthly conference calls. You'll wish you did it sooner!"
3. Spending too much time on product development, not enough on sales. While it's hard to build a great company without a great product, entrepreneurs who spend too much time tinkering may lose customers to a competitor with a stronger sales organization. "I call [this misstep] the 'Field of Dreams' of entrepreneurship. If you build it, they will buy it," says Sanjyot Dunung, CEO of Atma Global, Inc., a New York software publisher, who has made this mistake in her own business. "If you don't keep one eye firmly focused on sales, you'll likely run out of money and energy before you can successfully get your product to market."
4. Targeting too small a market. It's tempting to try to corner a niche, but your company's growth will quickly hit a wall if the market you're targeting is too tiny. Think about all the high school basketball stars who dream of playing in the NBA. Because there are only 30 teams and each team employs only a handful of players, the chances that your son will become the next Michael Jordan are pretty slim. The solution: Pick a bigger market that gives you the chance to grab a slice of the pie even if your company remains a smaller player.
5. Entering a market with no distribution partner. It's easier to break into a market if there's already a network of agents, brokers, manufacturers' reps and other third-party resellers ready, willing and able to sell your product into existing distribution channels. Fashion, food, media and other major industries work this way; others are not so lucky. That's why service businesses like public relations firms, yoga studios and pet-grooming companies often struggle to survive, alternating between feast and famine. The solution: Make a list of potential referral sources before you start your business and ask them if they'd be willing to send business your way.
6. Overpaying for customers. Spending big on advertising may bring in lots of customers, but it's a money-losing strategy if your company can't turn those dollars into life-time customer value. A magazine or web site that spends $500 worth of advertising to acquire a customer who pays $20 a month and cancels his or her subscription at the end of the year is simply pouring money down the drain. The solution: Test, measure, then test again. Once you've done enough testing to figure out how to make more money selling products and services to your customers than you spend acquiring those customers in the first place, roll out a major marketing campaign. (See related article, "On a Tight Budget? How to Land a Client.")
7. Raising too little capital. Many start-ups assume that all they need is enough money to rent space, buy equipment, stock inventory and drive customers through the door. What they often forget is that they also need capital to pay for salaries, utilities, insurance and other overhead expenses until their company starts turning a profit. Unless you're running the kind of business where everybody's working for sweat equity and deferring compensation, you'll need to raise enough money to tide you over until your revenues can cover your expenses and generate positive cash flow. The solution: Calculate your start-up costs before you open your doors, not afterwards.
8. Raising too much capital. Believe it or not, raising too much money can be a problem, too. Over-funded companies tend to get big and bloated, hiring too many people too soon and wasting valuable resources on trade show booths, parties, image ads and other frills. When the money runs out and investors lose patience (which is what happened 10 years ago when the dot-com market melted down), start-ups that frittered away their cash will have to close their doors. No matter how much money you raise at the outset, remember to bank some for a rainy day.
9. Not having a business plan. While not every company needs a formal business plan, a start-up that requires significant capital to grow and more than a year to turn a profit should map out how much time and money it's going to take to get to its destination. This means thinking through the key metrics that make your business tick and building a model to spin off three years of sales, profits and cash-flow projections. "I wasted 10 years [fooling around] thinking like an artist and not a business person," says Louis Piscione, president of Avanti Media Group, a New Jersey company that produces videos for corporate and private events. "I learned that you have to put some of your creative genius toward a business plan that forecasts and sets goals for growth and success." (See related article, "Are Business Plans a Waste of Time?")
10. Over-thinking your business plan. While many entrepreneurs I've met engage in seat-of-the-pants decision-making and fail to do their homework, other entrepreneurs are afraid to pull the trigger until they're 100% certain that their plan will succeed. One lawyer I worked with several years ago was so skittish about leaving his six-figure job to launch his business that he never met with a single bank or investor who might have funded his company. The truth is that a business plan is not a crystal ball that can predict the future. At a certain point, you have to close your eyes and take the leap of faith.
Despite the many books and articles that have been written about entrepreneurship, it's just not possible to start a company without making a few mistakes along the way. Just try to avoid making any mistake so large that your company can't get back on its feet to fight another day.
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