Escape from Cubicle Nation

What is the best way to learn what you need to make a big career change?

This month's issue of Get a Life covers the topic What is the best way to learn what you need to make a big career change? I received so many emails from folks that felt overwhelmed with what they needed to learn to start a business that I wanted to help you brainstorm easy ways to assimilate new information.

One of the topics discussed is weighing whether you need an advanced degree or not for your field of interest.  I always joke that my brother took care of all the higher education for the family - he has an undergraduate degree from Brown, a doctorate from UCLA and a post-doctorate from Cal Tech.  I think there is a limit on smart genes per family and we simply ran out by the time I came around.  (Good thing I am the social one.)

What do you think? 

Do you need an MBA or other advanced degree to be a successful entrepreneur?

Are advanced degrees just meaningless fluff and a big waste of your time and money?

I have my own opinions, but I really want to hear what you have to say.

If you haven't subscribed to Get a Life yet, it is easy and you get some free goodies for doing so.  Here's the link.

All the world's a stage and we are merely players

I had a vivid dream early this morning that was so perfect in message, so vivid in detail and so funny in its twisted paranoia that I just had to share it with you.

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I was chosen as the lead in a play to be performed at a large local theater.  I was studying my lines for days and days and felt confident in my ability to deliver on opening night.

I arrived at the theater and was taken on stage.  Two wise-looking elderly men in long robes with beards were standing in the wings.  One of them was my college professor.  I think the other was a famous Shakespearean actor.  I immediately walked over to them and said sincerely  "I apologize for the terrible job I am going to do.  I really don't know how to act, so please don't take any offense."  They didn't say anything, they just walked away.

Just then, the Director walked over to me and said "I am so surprised that you didn't take the supporting actor's role.  That was a much better fit for you, and the character is much funnier and sexier than the lead."  I looked at the actor in the supporting role and felt pangs of regret.  But I told the Director "I really wanted to take the lead role this time."

Right before the curtain was raised, I forgot all my lines.  Everything.  I didn't know what the play was about, what to say or how to act.  I walked on stage and made up some really poor dialog.  My fellow actor in the scene looked at me with confusion on her face, but just tried to play along.  There was hardly anyone in the audience at first, but the longer we were on stage, the more the room filled up.

I finally turned to walk offstage in desperation to find my script and read my lines.  But as I turned my back to the audience, I realized that I had forgotten to dress my bottom half, and all that was smiling back at them was my very pale thong-clad butt.

I ran offstage and frantically grabbed the script and searched for the correct page of dialog. I spent what seemed like an eternity searching, to no avail.  Then I woke up.

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It does not take an advanced degree in psychology to interpret the messages in my dream.  Many of you may recommend therapy.  I am so used to my "slap me in the face with my anxiety" dreams that I just laugh at them now.  Here is what I took away that I think applies to all of you who are stepping out into your "bigger" stage:

• As much as you prepare, you will feel awkward, lost and incompetent when you first start out.  Your moment of reckoning may be a presentation in front of a potential investor, the day you open your shop doors or your first time leading a workshop or seminar.  You will not be perfect.  But contrary to my dream, if you carefully prepare, you will not totally blank out and forget everything you learned. 
• Important mentors, experts and friends may disapprove of your new direction.  You may feel like a gigantic impostor taking the stage of business with other seasoned experts.  Some will try to intimidate you with their vast knowledge and make you second-guess your decision to join them.  Don't cave to pressure.  When they started out, they knew as little as you, and had to learn by doing just as you will.  Don't apologize for what you don't know as I did, just be humble, observe and soak up everything you can. 
• You may be tempted to slip back into comfortable territory.  The "supporting role" element of my dream spoke directly to underlying fear I feel for stepping into the spotlight.  For the many years as a consultant, I was the "wizard behind the curtain" for many successful people, helping them to make millions of dollars, build their brand and develop as leaders.  In the past year, I made a conscious choice to take center stage and build the next phase of my business with me in the middle.  There are times when I feel like climbing back behind the safety of the curtain.  But I know that is not where I am meant to be - neither are you.
• When you take great risks, you have the potential for great embarrassment.  Can you think of anything worse than flashing your less-than-firm butt to thousands of jeering critics?  When you choose to live your authentic life and speak your truth, it truly is an experience of being naked in public.  And this is an extremely uncomfortable and vulnerable place to be.  But it also is liberating when you realize that you have nothing to lose and everything to gain.  So they don't like your butt.  Who cares?  Once you are comfortable in your own skin, the fun begins.
• You will never find the magic formula for success.  No expert, class, book, script or program will teach you all that you need to know to be successful.  It will be a process of trial and error, a fierce dedication to your own growth and personal development and lots and lots of time.  Success can only be defined in your own terms, so you will know you have it when you feel happy, peaceful, stimulated, fulfilled and excited about your life. 

How do you introduce yourself?

If you are in the go-between stage from employee to entrepreneur, you may find yourself frazzled when asked the question "So, what do you do for a living?" at parties, networking events and neighborhood gatherings.

You have the opportunity to introduce your role in your new venture by responding:

"I am a clothing designer specializing in high-end casual wear for active Boomers." 

Most often, however, you say something like:

"I am an accountant right now, but I kind of hate my job, so I got this clothing design thing going on the side that I will start as soon as I can find some angel investors who want to fund my idea."

By wobbling around in your introductions, you may have just turned off your first angel investor - the person you just met! 

If you are not confident enough to introduce your new work venture, why in the world should anyone else believe in you?

We can learn a lot about the skill of introductions from actors in Los Angeles.  Why does LA have the best-looking waiters, bartenders, bank tellers and administrative assistants?  Because they are all actors moonlighting with other jobs on the side till they get their next acting gig.  It doesn't matter if their first and only acting job was as an extra in a soda commercial 10 years ago, they will always introduce themselves as an actor.  I LOVE that attitude!  For those passionate about the craft, they are fiercely proud of what they do and feel a higher calling for their work.  (My Aunt Char is like that - she was Miss Beadle from Little House on the Prarie for those old school folks reading ... also the Mom in Eraserhead, for the alternative folks! She has done many things in her career: catering, property management and clothing design, but I will always consider her an actor.  Check her out at www.liquidbutterfly.com)

The way you will start really owning your new business venture is to introduce yourself as an entrepreneur.  Examples:

New Acquaintance:  "So, what do you do for a living?"

You:  "I help homeowners use solar technology to reduce their energy bills by 400%"

New Acquaintance: "Wow, that is cool!  How long have you been doing it?"

You:  "For the last year or so" ("or so" is the key word ... )

New Acquaintance:  "And this pays your bills?"

You: "It will in the next year as I complete the first phase of start-up.  In the interim, I moonlight as VP of Marketing for IBM."

The most important outcome of introducing yourself as an entrepreneur first is that you will start to believe it yourself.

There is power in language.  A Buddhist friend once told me that the words that you say form a force field of attraction around you.  So don't be shy.  Next time someone asks you what you do for a living, don't chicken out - position yourself as an entrepreneur!

If you want to practice, introduce yourself here.

Carnival of Entrepreneurship - May 25, 2006

Welcome to this week's edition of carnival of entrepreneurship!  I am delighted to act as your host.  It was a bit of a challenge sorting through all the submissions and choosing just seven.  I tried to include a diversity of topics and authors so that entrepreneurs of all different backgrounds would find some value.  Here goes:

John Brothers of PicoBusiness presents So you want to join a startup  John describes what he has learned from nine years working in a startup environment. I think it gives great insight into what life is like inside a technology startup if you are considering launching one yourself.  Explaining one of the points of be prepared to do just about everything, he shares "In my time at the various startups I’ve worked at, I’ve loaded and unloaded trucks (as a product manager), emptied trash (as a CTO), bought coffee and whiteboard markers (as a chief architect). I’ve chased down thieving employees, fixed servers by candelight, slept on the floor in my office, hand-built whiteboard stands, and personally couriered rackmount Linux servers from Atlanta to Washington DC, carrying an awkward 40+ pound box through the airport. And I’ve gotten off easy!"

Jack Yoest of Small Business Trends Radio presents Selling a Book?  Start with Radio.  He describes ten specific steps for getting your book picked up by the radio media.  I like the clear way he lays out the process, and the level of detail under each step.  Sample advice:  "Memorize your 8 second sound bites. Big books should be broken down into sound bites made simple and memorable for citations. The broader the audience, the simpler the message...And when speaking to a large, large audience, simple sells. 800 pound gorillas write in 800 word articles and speak in 8 second sound bites"

Matt Inglot presents The Top 5 Points a Venture Capitalist Wants to Hear that he gleaned from attending a seminar in Waterloo, Canada put on by Infusion Angels.  He shared the value he got from the conference, and summarized the main points in his own words. I encourage you to read it even if you are not seeking venture capital, as Matt says "as an entrepreneur, you should be hitting every point in your planning even if you don't intend to seek venture capital, as these are key criteria for an idea that has strong chances of success."

Becky McCray of Small Business Survival presents Sell More by Layering.  Becky is a small business owner in a small town in Oaklahoma, and writes for this audience.  I like her straightforward and clear explanations that are very helpful for entrepreneurs just learning about selling their products or services.  She explains "layering is the process of giving info in small chunks.  Rather than overwhelm a prospect with the whole story and every detail, break it into bite-sized pieces."

Yaro Starak of Small Business Branding presents How to Throw Away $500.  If you are just beginning to market a product in an untested market, you will appreciate these lessons learned from an experiment gone bad.  He shares "What I did learn was that spending large sums of money on marketing promotions like these was not the way to go.  With no prior testing, I had no knowledge of what to expect.  My intentions were good and I thought I had made a smart choice figuring out where my target market was.  It turns out I was wrong."

Dave Free of Seeds of Growth presents Innovation 101 where he shares a humorous story of what he learned about the process of innovation while trying to sand drywall mud with his sons.  The lead picture is worth the visit!  Like Dave, I often learn alot about business and leadership while doing everyday things.  From his experience, he outlines six key principles that "if applied, will deliver breakthrough innovations."

For the final, and admittedly favorite, post of the week, Ramit Sethi of I Will Teach You to be Rich presents 8 Stupid Frat-Boy Business Ideas.  Ramit is a sharp tack graduate from Stanford that has a  hilarious critique of business ideas hatched in college that never should see the light of day. He says "A stupid frat-boy business idea is an idea that sounds attractive on the surface, but ignores the graveyard of failures before it. It's usually hatched when a few guys get together, drink a lot, and end up talking about stuff that "should" exist. Sometimes the discussion gets entrepreneurial and they talk about a few ideas, which one of the guys will pursue the next day (when everyone else forgets about it)."  I feel hopeful about the next generation of entrepreneurs reading Ramit's insights.

This concludes this edition.  Submit your article to the next edition of carnival of entrepreneurship using this carnival submission form.  The host for next week will be Buyout Blog.

Pam's Interview on Small Business Podcast

I was interviewed for Small Business Podcast yesterday by Tim Bourquin of TNC New Media.  Tim conducts a few interviews a week about topics relevant to small business owners or owners-in-waiting.  We packed a lot into the 15 minutes:  how to prepare to leave your corporate job and start your own business, what holds people back from leaving, the pros and cons of quitting cold turkey vs. starting work on the side and lots more.  Here are all the ways you can listen:

Windows Media

Real Player

mp3 Stream

mp3 Download

Thanks for the opportunity Tim!

Cricket: 10 Pam: 0

Although this has nothing to do with growing a business, I have to share that a cricket has gotten the better of me.  For the last 10 nights, it has loudly serenaded me from its secure location under the lining of our couch downstairs. 

I usually work late at night in my upstairs office after my son goes to bed. I find it a bit difficult to concentrate with the raucous cricket music blasting up the stairs.  Maybe this is just preparation for when Josh becomes a teenager.

I think my biggest problem is wounded pride.  I am known in my household as the "cricket whisperer" since I have an uncanny knack for silently hunting them down, safely scooping them in a cup and freeing them outside.  We have lots of crickets here in Phoenix, and they sneak in every time you open the front door.

Every time I have donned my warrior cap and stealthly gone after this cricket, it has evaded my capture.

So if anyone has any non-invasive cricket-capturing techniques, I would love to hear them.

If you want to start a business and you are still employed, clear your plate

It is hard enough to maintain work/life balance if you are a full-time employee in a corporate job.  But if in addition to these responsibilities you are also plotting to start your own business on the side, you may find yourself overwhelmed with priorities.  Starting a new business involves a lot of work, and you will need extra time when you are in the research and planning stage.  So here are some areas to "trim fat" out of your schedule and free up time to plan your new venture:

• Meetings, committees and task forces.  We all know that meetings take up at least 50% of your time in a corporate job.  Some are critical for getting your job done, but others are really just ways to fill up your calendar. If you were trying to lose weight, the first thing experts suggest is to write down everything you eat and see where the extra calories are creeping in.  Do the same thing with your work schedule.  Look at each of your appointments and ask yourself "Is this meeting, committee or task force critical to get my job done effectively?"  If not, find a politically astute way to back out of it.  "I would love to keep attending this meeting, but I am just swamped with _________(fill in the blank) project right now that is critical to my (boss) (customer) (VP).
• Outside volunteer projects.  I am 100% supportive of community volunteering.  I spent 10 years of my life volunteering at least 30 hours a week, and I learned a ton from it.  But right now, you need to use all of your extra time to plan your business.   So gracefully back out of as much volunteer work as you can.  If you sit on the Board of a non-profit organization, see if you can get an alternate to rotate in for a few months.  Get off church committees, Girl Scout fun nights, all-day car wash fundraisers or the crossing guard.  Don't worry, your fast-track application to sainthood will not be revoked, and you can make up your good will towards men (and women) once your business is successful.
• TV zone-out time.  When I am really stressed out, I can get sucked into a bad pattern of zoning out in front of the TV to unwind and relax.  One hour can turn into 3 or 4 if I am not careful (especially if I am watching one of those home improvement shows - for some strange reason, they are highly addictive).  As entertaining and relaxing as it can be, watching too much TV can zap your creative juices and make you more tired than if you would have listened to music, meditated quietly or taken a nice long walk outside.  Cut back to just a few of your favorite programs a week.
• Kids activities.  I don't know if it is the same outside of the U.S., but we schedule our kids like little executives.  Parents frantically shuttle them between soccer, karate and trombone lessons, play dates and extracurricular test preparation.  The poor little tykes must carry electronic organizers and cellphones just to keep track of all the details of their over-scheduled lives.  At the end of the day, this may be doing your kids more harm than good.  Relaxed, unscheduled time at home that does not involve uniforms or driving is a good thing.  I am not suggesting cutting out all of your kids activities, just scale back a bit so that they are less harried and you have some time to rest or plan your business.  I remember spending hours as a kid making a paper boat and sailing it in a puddle in our driveway.  It was exciting and stimulating and is one of my fondest childhood memories.
• Administrative and labor-intensive life activities.  You can spend hours and hours of weekend time cleaning your house, tending to your yard or handling the administrative details of your life.  It will be worth the investment to hire these activities out for a month or two so that you can focus on planning your business.  By doing so, you are usually helping out another small business owner who will be glad to gain a new client.  You can also enlist the help of a virtual assistant  - here is a resource for you to find one.  Make sure that you use this paid freed-up time for the highest-leverage activities.

You may find that a freer schedule will also clear your mind and allow you to think creatively about your new venture.  Who knows - after your new business is up and running you may just choose to keep your less-harried schedule.  It definitely makes you happier!

What the heck is a vlog?

They say that good businesspeople surround themselves with people smarter than they are.  I must be doing something right since my readers are constantly sharing good information that really helps my understanding of entrepreneurship and business in general.  I can generally keep up with technology, but I do admit that growing up we were the most technologically-challenged home on the block, getting a VCR about 15 years after they became a household item.

So I was very grateful when my savvy reader Peter Altieri recently answered my question "What the heck are vlogs?":

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Pam:

The old school "acronymania" is still alive! (I'm an ex-American Airlines MBO, remember those:), acronymaniac.)

Vlogs utilize video as their primary content and presentation format.

"Vloggers" are typically creating video blogs with text included.

Think of you creating your daily blog posts in a video format vs text; or showing a short video clip to get your point across.

The context of vlogs is best shown at sites like: http://www.rocketboom.com.

Vloggers are starting to be utilized to create content, short 1-3 minute video clips, in a number of ways.

Context: "Would you rather read about what its like to work here at Microsoft... OR.... see and listen to some of the team members you would be working with, where they work, what they do?"

Video journalists are using this medium to create compelling videos that show up on sites such as http://www.turnhere.com and of course, http://www.youtube.com .

The more broadband becomes mainstream, the more you can look for video to be included as a complementary form of "communicating" online.

And finally,when you think of Bain and Company, and you were trying to convince people that Bain Singapore is a fun place to work vs Boston Consulting Group or those boring guys at McKinsey, how would you do that? Here's how Bain did it way back in 2002. Enjoy.

http://www.youtube.com/watch?v=U5xMIzd4U7Q

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Thanks for the education Peter!  I think the more we know about technology as entrepreneurs, the better we can serve our customers.  I can't wait to create my very own video clip!

If you have good examples of video clips or vlogs that are appropriate for business or thoughts about how you could use them to promote your business, please share your comment here. (And do check out the Bain clip it is really funny!)

Catch me on the radio tomorrow, May 20

I will be interviewed on Startup Nation radio tomorrow, May 20 at 7pm Eastern Time.  Here is the info.  If you miss the broadcast on your local station, it will be available via podcast starting on Monday.  I am excited to be on national radio and look forward to hearing what you think.

Enjoy your weekend everyone!

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Update Monday, May 22:  The show is now available via podcast under the same link as above.  My interview is about halfway through the radio show.

Before you create your business plan, create your life plan

The first thing most aspiring entrepreneurs do to move their great idea forward is create a business plan.  This is a critical and important step, but if you create it without first considering what kind of life you want to live, you may find yourself disillusioned with your business success.

So before you create a business plan, create a life plan.

A life plan details the kind of life you would have that would make you happy, healthy and fulfilled.  It includes things like:

• Where you live
• What kind of home you have
• Who you are working with
• What kind of work you do
• How you spend your day
• How much money you make
• The state of your physical and emotional health
• Life priorities such as amount of time working vs. spending time with family vs. community involvement

If you have a family, your life plan is created as a joint effort.  Each person in the household (wife/husband/partner/kids/parents if you are caring for elders) should weigh in on the kind of life that would be ideal.  Of course everyone won't agree with each other's priorities, but you should be able to gain agreement on some major areas. 

Rich and Jeff Sloan, founders of Startup Nation and authors of Open for Business put creating a life plan as the first step in their Ten Steps to Open for Business program.  This is a practical, informative and free online resource that help you create a life plan document, as well as work through the other 9 steps to open a business.  (I shamelessly plug Startup Nation all the time since I have found Rich and Jeff to be the real deal - passionate, thoughtful, committed and truly out to serve their market with great information.  And I did not receive one cent to say that, for any of you cynical folks out there :)

Your life plan will serve as the guide for all decisions that you make about your business, from the type of business structure you choose to the market you serve and the products and services you offer.

I will use my own life plan as an example:

Our five-year plan includes moving to Sedona, Arizona from where we currently live in the Phoenix area.  This is important to my husband and I because:

• Our baby son Josh loves the outdoors and will have to spend at least 4 months of the year indoors if we stay in Phoenix (which gets to 120 degrees Fahrenheit in the summer)
• The land of Sedona is physically beautiful (see the picture in this post) and there are lots of areas for hiking, exploring and meditating in nature, which are our all-time favorite activities
• I want to build up a set of retreats as part of my business, and Sedona would be a perfect destination.  Its natural beauty is great for introspective work and it includes many top-notch hotels and resorts
• It is closer to the Navajo reservation where many of my husband's relatives live.  He has a construction business, and his long-term goal is to train young men and women on the reservation in his trade so that they can be prosperous and self-sufficient
• It has personal significance for my husband since he used to ride to Sedona by horseback to collect herbs with his grandpa, who was a medicine man.  He feels peaceful and at home there.

There are many more personal and professional reasons why we love Sedona, but the point of this example is to show that all decisions we make about our business will keep our long-term goal in mind. 

In my husband's business:

• He must continue to buy new equipment and train operators to run and service it without him nearby
• He must take advantage of the tremendous development in the Phoenix area in the next few years and build relationships with developers to ensure that business is steady and strong
• He must remove himself from the day-to-day operations so that he can focus on the big picture

In my business:

• I must continue to build community and gain exposure so that I can continue to run a viable coaching business from my home
• I must research the Sedona area extensively to identify good partners for the retreat business
• We both must save money and keep cosmetic improvements to our house at a minimum so that we have the capital to fund our long-term goals (and buying land and building a house in Sedona isn't cheap!)

Once you have a life plan in place, it becomes very easy to make decisions about the kind of business you want to create.  The best part is that it ensures that once your business takes off and you experience financial success, you will be happy with the life that you have created.  I cannot tell you how many miserable multi-millionaire entrepreneurs I met in my years in Silicon Valley.  I believe they were miserable because they got too enamored with business growth at all costs and didn't see creating a great business as a means to create a great life.

Even if you are not planning on becoming an entrepreneur in the near future, your life plan will be invaluable for career planning.  Try it and let me know how it turns out!