Alexandra Levit's Water Cooler Wisdom

How to Be Happy Working Alone

Many would-be solopreneurs look forward to the day they can kiss their company’s bureaucratic (or dysfunctional, oppressive, frenetic) culture goodbye. They look forward to the day when they can sit in a home office in their pajamas all day and be completely divorced from any type of culture. 

The only problem is, culture is always there—even when it’s you and nobody else but you. And if you want to be happy working alone, there are steps you must take to ensure that you’re creating a culture conducive to your success. 

The first step is to recall the enjoyable aspects of prior workplace cultures and try to incorporate them into your routine. As an example, my favorite part of going into a large corporation every day was lunch out. I liked the way it broke up the day and encouraged me to develop more meaningful relationships with my co-workers. 

So, when I started my own business in 2008, I began scheduling weekly lunches in downtown Chicago with various networking contacts, and I also signed up for one educational conference per quarter. My culture-of-one continually exposed me to new people and ideas that energized me and kept me from becoming too isolated. Here are some other ways to create a rewarding solopreneur culture:

Create Your Own Mission Statement 

The worst mistake you can make is to set off on your own without a plan. An important mentor of mine, Stephen Covey, taught me to be purposeful about my work and to think hard about what I wanted to be (character), what I wanted to do (contributions), and the values I held dear. Make sure you’ve formalized your thoughts on paper so they will always guide your business’ direction. Share your mission statement with partners and clients and solicit their feedback.

Set Concrete Deadlines Every Week

Succeeding as a solopreneur requires a tremendous amount of discipline, and creating and sticking to a weekly to-do list will help you maintain a stable and productive culture. I take it a step further and assign days of the week to accomplish various tasks. For instance, Mondays are my writing days, Tuesdays are my marketing days and Fridays are my administrative and finance days.

For more tips, check out my Culture Beat column on the AMEX Open Forum.

How to Make Sales Work for You

Back in the fall, I wrote a piece about how we are all in sales to some degree.  Even if you’re not selling a product to an outsider, chances are you still have to sell an idea to an internal constituency or a promotion to your boss.

Earlier this year, my friend Dan Pink launched a new book that’s much along the same lines.  In To Sell Is Human: The Surprising Truth About Motivating Others, Pink says that sales is really about moving people and convincing them to cooperate with you.  Anyone who has to influence or persuade in his or her job is a salesperson.  For example, Pink found that in a survey of what people spend their time doing at work, 40 percent of time is spent doing non-sales selling – regardless of role or profession.  Pink’s book is chock full of great stuff as always, but here are some of my favorite gems:

Tip #1: Be An Ambivert

Pink cites research from Adam Grant at Wharton Business School, which found that the most successful salespeople fall right in the middle between extroversion and introversion.  Why?  Apparently extroverts can be too pushy, but introverts can be too cautious.  A happy medium leads to greater trust from the “buyer.”  Check out Pink’s site for a quiz to see where you fall on the scale.

Tip #2: Don’t be Stone-Faced

You are not playing poker, so smile!  Show positive emotion and believe in what you’re saying, and others are likely to respond in kind.  Note, though, that being too bubbly can backfire, so pay attention to cues from the other person that you may be headed over the top.

For more tips, please check out the full post at Intuit's Fast Track blog.

MoneyCrashers and the Potential Future of Journalism

Andrew Schrage, founder of MoneyCrashers, is making headlines with his attempt to completely reinvent the way personal finance news is funded and reported.  I had the chance to interview Andrew a few months back and share the highlights from our conversation here!

Andrew, who funds Money Crashers, and what is their objective?

Money Crashers Personal Finance is funded internally, currently with no outside help. The objective is to remain that way; however, outside investor help would possibly be considered as an option in the future, depending upon our level of growth and expansion.

MoneyCrashers produces a lot of content on a daily basis.  How is the operation organized?

We recently expanded our level of output to include multiple postings each and every day. Managing this expansion was a challenge, but by remaining cognizant of the dangers of fast small business growth strategies and a firm commitment to our core goals (namely, quality above quantity), we have been able to avoid some of these issues thus far. We are organized in a way that is informal and encouraging towards creativity, as we let our writers fully participate in the process of choosing what topics and articles will be written and eventually published on the site. We really try to maintain a collaborative atmosphere where everyone's ideas are strongly considered and often implemented, whether it's on the site or on our social media channels (for example, implementing a weekly TweetChat was a suggestion from one of our team members that has worked out great). Maintaining a “neighborly” feel to the business has always been a focus of mine. I previously worked in a strict, corporate environment at a hedge fund, and I wanted to foster a more enjoyable atmosphere.

How many employees are at your physical location? What is the culture like there?

We currently have about 15 team members. The culture is informal, attire is very relaxed, hours are flexible, and two-way communication is a key. Our team members come from all walks of life, and all seem to be able to thrive in our current corporate culture. There is very little hierarchy within Money Crashers. Any writers or editor can call my cell phone or set up a meeting anytime, and I'll gladly discuss anything with them.

How is a Money Crashers staff writer's life different than a traditional reporter's (in a traditional newsroom)?

We are different in the fact that just about everything we do as a team is a collaborative process. It is certainly not like the owners of the site determine the direction of the site and delegate topics without considering the opinion of the rest of the team. To the contrary, our team members are fully engaged in this process. Many writers also have the flexibility of working from home, which affords them a lifestyle that plays into a family or very active life.

I believe that MoneyCrashers is a great example of one possible future for the world of journalism.  What do you think?

How to Make the Most of Your 15 Minutes

There comes a day in many of our lives when we will briefly become famous.  For one of my friends, that day came early on, when he was the first baby born in Boston in the year 1974 (his photo was on the front page of the Globe).  For me, that day was in 2006, when an article about my book They Don’t Teach Corporate in College went viral from the front page of Yahoo! and led to instant bestseller status.

Since the advent of reality television and social media, exponentially more people have gained their 15 minutes of fame, but the sad truth is that most squander it.  They make bad decisions and let the attention go to their heads.  Just a short time after their fame peaks, the average person returns to obscurity with nothing to show for that time in the sun. Should you be lucky enough to find the spotlight unexpectedly shining upon you, here are some guidelines to follow so that you use the situation to your advantage:

Stand proud on that soapbox

While everyone is paying close attention to what you have to say, fine-tune your pitch and use the opportunity to educate them about what you do and why you do it.  Ideally, your 15 minutes should be a jumping-off point from which you can solicit attention for current and future projects or initiatives that are important to you.

Accept a busier schedule

Work/life balance is certainly critical in the long-term, but not while you’re taking advantage of your 15 minutes.  Keeping in mind that people’s interest will only last a short time, cram as many activities (phone calls, interviews, events, meet-and-greets, etc.) as you can into each day.  Trust me.  The sleep you’ll lose now will be worth it in the end.

For more tips, head over to the full post at Intuit's Fast Track blog.

What's Your EQ?

In 1990, The New York Times’ science reporter Daniel Goleman hit upon the concept of emotional intelligence (EQ), or the ability to identify, assess and manage the emotions of one’s self, others and groups. Today, the business world’s general belief is that EQ rivals IQ in importance and relationship to success.

Although Goleman found the term in a small academic journal and therefore didn’t invent it, his bestseller, Emotional Intelligence: Why It Can Matter More Than IQ, was responsible for EQ’s foray into pop culture. The components of EQ vary slightly depending on who you ask, but Goleman’s include the following six:

• Emotional Awareness: You understand the emotions you’re feeling and how those emotions affect your behavior and performance.
• Accurate Self-Assessment: You are aware of your own strengths and weaknesses, you’re open to feedback and you learn from experience.
• Political Awareness: You are aware of important formal and informal relationships, who’s friends with whom, and how things actually get done.
• Influence: You are skilled at gaining consensus and drumming up support for your projects. You challenge the status quo and enlist others to help.
• Communication: You are able to read between the lines when conversing with others, speak in a straightforward manner and seek mutual understanding.
• Conflict Management: You address problematic situations proactively, bringing them to light with tact. You encourage open discussion and help to orchestrate mutually beneficial solutions.

There are more where these came from—so many more that it seems like there’s an awful lot involved in being emotionally intelligent. However, as you might gather from this short list, a lot of qualities go hand in hand. Professionals who have strong political awareness, for example, are often good at internal persuasion and conflict management.

For tips on how to build an emotionallly-intelligent culture, head over to my Culture Beat column at the AMEX Open Forum.

 

Do You Need a Quarterlife Upgrade?

You may have bought into the misunderstanding that you are supposed to have your entire life figured out by your 20s or 30s. This is not true!  Our quarterlife is an exciting, yet often stressful and confusing time because there is a lot of pressure to make a lot of major life choices. 

My friend Christine Hassler, whose passion for teaching how to overcome a quarterlife crisis is infectious, is bringing together 30+ of the top thought leaders (including me) of this generation to give inspiring advice to the Millennial generation in the areas of career, money, health, relationships, spirtuality, and making a difference.  And voila - we have a virtual conference called the Quarterlife Upgrade!

Each 50 minute session of the conference is jam-packed full of content that you didn’t get in college, grad school, or from your parents.  Even if you are not a 20 or 30 something, the up to date wisdom and practical advice will make you feel young again and is timeless in nature.  And best of all, you can register for the virtual conference for free.

To give you a taste of what the content is like, here are some of my favorite gems:

• Find a cause that you have an emotional tie to, educate yourself on the mission, and get involved.  Service is a key ingredient to happiness.
• Stop comparing yourself to everyone else and being so hard on yourself. Don’t use Facebook as a torture device.
• Burnout is not a badge of honor. Don't try to do it all, focus on the 5% you're great at and delegate the rest!
• Your thoughts are creating your reality so you are either attracting things to you or repelling them from you. 
• Answering the question, “What do I want to do with my life” is more often a process of elimination rather than a lighting bolt of inspiration.
• There is no one “soulmate.” You will probably have multiple romantic relationships and the MOST important relationship you have is the one with YOURSELF. No one can complete you other than YOU.
• Eat green foods and ditch processed stuff (if you do not know or can’t pronounce the ingredients, don’t eat it!)
• There is huge value in "oh no!" moments. The things that don’t go according to plan are often the biggest blessings in your life – sometimes it just takes time to clearly understand what the blessing is. 

Should an Entrepreneur Be a Jack of All Trades?

When I was writing my book Blind Spots, I asked CTO of Madison Logic, Mark Herschberg if an entrepreneur had to be a jack of all trades to be successful. 

“If you’re a good software developer, you’ll be able to get a job as a software developer. But being a good software developer doesn’t mean you have what it takes to run a software development company,” Herschberg says. “If you want to do the latter, you have to be good at everything involved with running a business, from designing and manufacturing to hiring and marketing.”

This has been my experience as a workplace consultant. In addition to knowing how to write, speak, conduct research and advise clients (i.e., my bread and butter), I have to understand accounting, public relations, graphic design, online marketing and a host of administrative skills. However, “understand” is the operative word. While possessing a working knowledge of business skills outside my core focus areas is helpful, I don’t need to be—and shouldn’t try to be—spectacular at everything.

You have inevitably heard the phrase “jack of all trades, master of none.” This idiom originated from the Elizabethan era as “Johannes factotum” (Johnny do-it-all). It became commonplace in the 17th century, with Jack replacing Johannes as the more common name for a man. To date, the phrase “jack of all trades, master of none” still describes someone who can do many different things, but is not particularly good at any of them.

This may, in fact, be the kiss of death for an entrepreneur. Self-made individuals, after all, are usually effective because they possess an outstanding talent and have the drive to share that talent with the world. The more they are distracted from that talent, the more the business suffers.

I pontificate more on this idea in my Culture Beat column at the AMEX Open Forum.

Why You Should Care What Employees Do Off-the-Job

Most companies will not hire someone who is a convicted felon. They will, however, hire people who have received speeding tickets and citations for disturbing the peace. They will also hire people who spend money without care in their personal lives.

But maybe they shouldn’t. According to recent research from the National Bureau of Economic Research (NBER), an executive’s record of disobeying the law as well as his or her spending habits outside of work are related to on-the-job performance.

The report, “Off-The-Job Behavior, Corporate Culture, and Financial Reporting Risk,” examines how and why two aspects of CEO behavior outside the workplace, as measured by prior legal infractions and the ownership of luxury goods, are related to the likelihood of misstated financial statements and playing fast and loose with the company’s cash.

Of 110 firms that committed fraud as identified by the SEC, 20 percent of the CEOs had a record at the time of the fraud. And while the luxury-owning CEOs were no more likely than frugal peers to misrepresent financial information, they generally took bigger gambles at work. 

Lawbreakers and big spenders often suffer from a lack of control, which is related to poor decision making. NBER suggests that this type of executive is more prone to engaging in spontaneous large acquisitions and less prone to investing in sensible long-term growth. He or she is less likely to manage existing assets efficiently, and more likely to go bankrupt.

Getting the Scoop … Beforehand

As a small-business owner, every hire you make has a substantial impact on your operations. Even a cashier in a fast-food restaurant has the opportunity to make accounting mistakes or liaise with customers in such a way that shows a disregard for profitability or safety. You can’t assume that employees will leave their bad behavior or poor judgment at the door when they come to work for you. In all likelihood, what they do off-the-job will have at least some impact on what they do on-the-job.

With respect to the traits discussed in NBER’s research (disregard for the law and lack of frugality), you can assess candidates before you hire them. First, make sure your background checks include not just criminal activity but other legal infringements too, and see if you can detect any patterns. For example, one parking ticket is an anomaly, but 10 unpaid parking tickets in a year should tell you something.

For other suggestions, head over to my Culture Beat column at the AMEX Open Forum.

Get a Job with a Little Help From Your Friends

My friend Chris Russell was one of the first pioneers of the online jobs space, so I was excited to hear about his new online networking site, Jobs With Friends.  Whether you're actively job searching or not, the site makes it easier to leverage who you know in addition to what you know.  Here's what Chris had to say when I asked him about JWF.

Chris, why did you decide to create Jobs With Friends now?  

Because its finally time to leverage ALL the connections in your personal and professional networks. When people say you should network, that is true but until now there havent been any tools to assist active job seekers. 

Why do job seekers need Jobs With Friends?  Can't they just use LinkedIn?

Your network is bigger than just Linkedin. Jobs With Friends lets you combine both Facebook & Linkedin contacts to form one complete database of people you know and see where they work. Plus we can show more jobs at each company since we tap into a larger job network (indeed.com). And it has one click 'Ask for Referral' buttons along with several other features you cant find anywhere.

What's the best way to start using the tool?

Make sure you import both your Facebook and Linkedin contacts, then upload your resume so your connections can download a copy if you ask for a referral. After that, start to browse the companies that your friends work at. You'll discover interesting jobs and information. It really forces you to 'company hunt' versus job hunting. You can also invite your friends which will allow you to see where their connections work as well. 

What tips can you share regarding online networking etiquette?

Firstly keep your correspondence brief and to the point. People are VERY busy these days so dont send long emails. Second, check your spelling and grammar. Dont use text message acronyms in your email. Leave those for the phone. Thirdly every time you meet a new contact offline be sure to connect with them on Linkedin. That's how you build your virtual rolodex. You should constantly be connecting with people in your industry. Finally, share their stuff. Retweet their posts. Like this status. Nurture that online relationship just as you would in a face to face setting.

Where can people get more information?

Jobs With Friends is a free service, just visit us to sign up.

How Millennials Are Like Wild Bees

Just when I thought I’d read everything about Millennials (employees born after 1980), along comes Claire Lacroix-Bouchardie from Mercer New York.  She wrote a white paper about how flighty Millennials in the workforce bear a striking resemblance to honey bees that are abandoning their colonies in record numbers and striking out on their own.  Among the highlights of her comparison:

Honey bees have traditionally been an image for the model employee – the quiet and disciplined worker who we come across less and less.

An Exodus of Talent

Apparently, this is true in the honey bee colonies as well.  According to Lacroix-Bouchardie, the world’s honey bees are experiencing colony collapse disorder, a mass disappearance of worker bees from their beehives.  The first symptom of this, which beekeepers can detect, is the plunging ratio of worker bees to baby bees, leaving the colony’s workforce insufficient to maintain its brood.

The same thing is currently occurring across labor markets, as Baby Boomer retirement starts en masse and companies cannot hold on to their younger workers.  And even the ones they manage to retain do not have the skills and savvy to replace seasoned Boomers.  The world’s companies are quickly getting into a situation in which the brain drain is so significant that they can’t sustain themselves.

For more on the bee theory, head over to the full post at Intuit's Fast Track blog.