Tag Archives: business

5 Common Career Problems: Which Ones Do You Want to Overcome?

Every problem is a gift - without problems we would not grow – Tony Robbins

Life is filled with problems. In the early days of starting my first business, I learned to call them challenges since those sounded easier to overcome.  Among the worst are career problems.  Nearly all people are fortunate to have within their grasp the ability to choose the set of challenges with which they want to grapple.  Unfortunately, most don't exercise this choice.

5 Common Career Problems: Which Ones Do You Want Overcome?

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When I talk with people about career problems they tend to air the same complaints. Not necessarily in order of frequency, they are:

  1. I don't make enough money.
  2. I have to work too many hours.
  3. I miss too many family events.
  4. I dislike the people with whom I work.
  5. My boss doesn't know what he's doing.

Do any or all of these sound familiar?  Most were on my list back in 1985.  During that year I committed to finding a solution. On February 28, 1986, I started my first business. Being an entrepreneur eventually solved all of these challenges. Here is a rough timeline:

  1. Money:  It took less than two years to generate an income similar to the one I gave up and about five years to get my income to a comfortable level.
  2. Hours:  The first eight years I worked long hours, though rarely as many as at the company I left.  But after ten years this issue was under control.
  3. Family events:  From day one I controlled my schedule.  The flexibility of being self-employed is one of the top reasons for taking this step.
  4. Co-Workers:  Since I had the final say on hiring and firing, I never worked for very long with someone I didn't enjoy working with or who was incompetent.  This is another excellent reason for starting a company.
  5. Boss:  The truth of the matter is my boss, me, often didn't know what he was doing.  In the beginning, I was pigheaded about my ignorance.  But after a disappointing first year, I admitted to myself that I had a lot to learn and started filling in the gaps.  And while I constantly found my knowledge lacking it was within my power to get trained.
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Entrepreneurship won't solve your career challenges overnight.  But the ability to find and implement solutions will be in your hands.  While the business press tends to focus on the financial benefits of startups, I think the lifestyle benefits are much greater.  They will lead you to a more enjoyable life whether or not you have a multi-million or billion dollar IPO.

What is your biggest career challenge?

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Pursue Entrepreneurship Like a Marine

When stationed with the Marine Corps, I learned a concept called maneuver warfare. Attrition warfare was the primary philosophy until World War I. Today speed and agility, also called shock and awe, dominates warfighting.  Typically thought of spatially, Marines broaden it to include psychological, technological, temporal, as well as spatial issues.  As the wars wind down I've been thinking about how to apply this doctrine to entrepreneurship.

Lesson from the Marine Corps

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While I don't equate business to war, the usefulness of maneuver warfare translated into entrepreneurship can ignite your life. Here’s how:

  1. Spatial Maneuver: Merely because another company is larger and better capitalized doesn't mean you can't enter the market.  Its size can be its biggest weakness if it prevents innovation and agility in the marketplace.  Maneuvering spatially means more quickly taking advantage of opportunities than larger, better funded competitors.
  2. Psychological Maneuver: The psychological enemy you face as an entrepreneur ranges from negative self-talk and opposition from family and friends to the lack of knowledge you need to pursue your idea.  Tackling this enemy requires forethought as to how you'll respond.  For example, when someone, including yourself, puts down your concept or your potential to succeed will you simply ignore it?  Can you continue to do so over time?  You'll do better if you analyze the defeatist arguments and have ready answer showing them to be wrong.
  3. Technological Maneuver: Technology is amazing.  But note that this can mean it is amazingly good AND amazingly bad.  Its value lies in how well it helps you get your business underway and makes it run better.  Technology purely for its own sake will hold back your progress.  Maneuvering through the technological morass should lead you to solutions that help you serve your customers and make you a nimbler competitor.
  4. Temporal Maneuver: In war, by creating a faster operating tempo than the enemy, Marines seek to disrupt their enemy’s ability to react.  With entrepreneurship, the temporal enemies are the desire for perfecting your product or service, fear of failure, or other issues that cause you to delay launching.  By setting hard and fast goals for completing each task of your start-up plan and sticking to them, establishing a battle rhythm, you gain the inertia you need to break through the temporal barrier.

Marines constantly train by planning and practicing how to use maneuver to make them the most effective warfighters in the world.  Success means shattering the enemy’s cohesion so badly it can't function.

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The enemies of your success wage a war of attrition.  Everyday they seek to dissuade you from changing your mindset and engaging in tasks that will improve your life.  Undoubtedly your definition of success differs from the Marine Corps'.  But making maneuver a key aspect of your plan will help you more quickly defeat the negative attitudes and lethargy holding you back.

Which type of maneuver will help you most toward your goals?

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How to Insure Your Greatest Achievements Are Yet to Come

On Memorial Day I finished listening to Citizens of London: The Americans Who Stood with Britain in Its Darkest, Finest Hour. The activities of Edward R. Murrow, Averell Harriman, and John Gilbert Winant during World War II were brought to life and contextualized within the greater war effort. As is the case with many such biographical histories, the end of the book briefly summarizes the rest of the lives of each person.

 

How to Insure Your Greatest Achievements Are Yet to ComeWhile the first two men were household names for at least half a century, Gilbert Winant is virtually unknown. Yet it was his story that struck me most profoundly. Deeply loved by Britishers of all walks of life and universally acknowledged as having played a crucial part in the Allied victory, nonetheless, in 1947 he committed suicide.

As I was listening to this I entered Naval Base Point Loma and saw the American flag waving in the breeze. For a moment I was struck by the idea that I will never do anything as great as being a part of the United States Navy’s effort to defend our country. Did Gilbert Winant, who clearly was not a part of President Truman’s inner circle the way he was FDR’s, despair of ever achieving anything as important as his instrumentality in the victory over Nazi tyranny?

I quickly disavowed myself of the idea that my best days are behind me. But the thought that some of my fellow service members may draw such a conclusion impelled to write this post.

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Your military service is and was noble. You made sacrifices that more than 90% of Americans cannot understand but appreciate. Most significantly you took a risk to serve your country, especially if you saw combat. Sadly, some of your comrades did not survive. But thank G-d you did. Hopefully, the risk paid off in several ways including achieving your mission and gaining greater self-knowledge.

Here is the rub: If you want to do even greater things you will have to take risks again. They probably will not be life threatening, but they could temporarily crush your mind and spirit.

Yet this is the greatest training the military gives you: the ability to assess risk, mitigate it as much as possible, act in spite of the remainder, and recover no matter how it turns out. Consider the value this gives you as a spouse, parent, and provider. If the enemy could not deter you, how can friends?

While military service gave you an opportunity to be involved with greatness, the world still abounds with opportunities to surpass such eminent achievements. Will you dare to be greater than ever before? Will you take the risk?

Question – What great accomplishments do you want to pursue?

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How to Find a Job You Can Never Lose

Job security in the military, though not what it was a few of years ago, is one of the biggest benefits in this demanding profession. The path to advancement is well defined. Even today, if you are reasonably focused you have a good chance of staying in long enough to earn a pension. Government work seems secure.  But with annual budget battles and sequestrations, you won't find stability there either. In the private sector, it's virtually unknown. But there is another option.

How to Find a Job You Can Never Lose

For twenty years before joining the navy, I never worried about being fired. Why would I terminate myself? I knew my strengths and weaknesses and made sure I worked with others who complimented my abilities. Being self-employed gave me job security that I never had working for someone else.

Entrepreneurship is the ultimate employment guarantee. While occasionally you'll lose a client, necessitating a temporary reduction of your compensation, once you find a new client you can raise it. Over time you can make sure you always have a job and direct your work into areas you find stimulating while hiring others to do the tasks you aren't interested in any longer. You control your pay and benefits as well as your work environment.

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The learning curve can be steep. But once you have internalized the fundamentals of starting and running a business you will wonder why you ever thought about running the risk of working for someone else who could lay you off or fire you.

Question – Which do you think is more secure: working for someone or working for yourself?

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Are You Prepared to Profit from Defunct Businesses?

Destruction. Commonly thought of as negative, your success as an entrepreneur rests on embracing destruction.

Capitalism embodies the dichotomy of creative destruction: the necessity that outmoded businesses and inefficient practices will be replaced.

Undoubtedly today everyone agrees there is no reason for companies to make buggy whips since automobiles are the standard mode of personal transportation. But at the time, manufacturers and their employees doubtlessly bemoaned the declining demand and eventual demise of whips.

We are in the midst of what may turn out to be a similar situation. Ever more people get their news online or in digital format. Many newspapers and magazines have seen their print circulation drop substantially or ceased publishing them. In another 20 years will even the most popular periodicals: The Wall Street Journal, USA Today, and The New York Times, all with daily circulations exceeding 1.5 million, still issue print editions? Reporters may not be impacted, but what about newsprint and ink suppliers, manufacturers of presses, and the people employed in the process?

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As much as I deplore the collapse of printed media, I will discourage my daughter from pursuing a living in this industry or any other that is declining. Rather, I will urge her to examine the opportunities created by the destruction of businesses. Indeed, her greatest chance for success will come specifically because she can replace that which has been demolished.

Herein lies your challenge. Betting on the destruction of a product or industry is by no means a sure thing. Compounding this issue can be your reluctance to accept such demise. Yet the increase in nostalgia products is not necessarily a function of a lack of creativity on the part of product designers. It appears that the more things change the more people yearn for the familiarity of the past. Where then does true opportunity lie?

How you answer this question may determine your entrepreneurial success.

Question – In what waning product or industry do you see opportunity?

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