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Well, 2020 has been quite a year so far. As an adjunct business instructor, I had to rewrite half a semester’s worth of content into an online format, which turned out to be much easier than trying to find ways to help students who are now facing one of the most unique job markets we’ve ever seen.

A friend who recently graduated with a master’s in physical therapy was in the same boat as my students. Weeks of searching and applying on LinkedIn, Indeed, and more yielded not a single interview. Faced with the likelihood that she’d have to dip into savings to cover rent, she took a job as a construction helper. Nothing glamorous but it took the pressure off of worrying about short-term finances and left her with time to search. But … where to search?

Browsing mainstream job boards is a great way to see what’s out there but applying through those portals usually means that the odds of getting your résumé in front of a hiring manager are slim. My friend began to think about where more direct ads might be listed. After searching some local job boards and reaching out to friends, she came across a listing on craigslist. Yep, craigslist. A small private clinic was looking for help in rural Colorado. The listing provided a link to the person who was hiring, which allowed my friend to make a direct connection and tell her story better than even the most well-written résumé can do.

You would think that with a solid offer from the clinic, her hard work would be over. But rural Colorado is one of the most difficult places to find housing. Using a similarly atypical approach, she bypassed the big-name sites for apartment listings, jumped right into the classified ads in the local newspaper, and found a place to live. Classified ads an old-fashioned method of advertising but where better to go than the place that most people probably aren’t looking?

When people hear that she was able to land a job in her field, many say, “That was lucky.” But it certainly wasn’t luck. A focused vision, combined with creativity and perseverance, landed that role. And it’s her story that led me to realize what advice I can share with my students about how to utilize their time during the pandemic:

* Review your finances. – Take this time to really look at your credit card statements. Are there subscriptions or other recurring payments you can cut out? Are you spending money on things you don’t really need? Start to make a plan to save as much as you can and then keep saving once the pandemic is over. If need be, take a temporary job to help you through this time.

* Review your skills. – Are there any skills listed in the job postings that interest you that you don’t have? Is there a way for you to audit classes, take online courses, learn from a colleague? How can you supplement your existing skill set to make you more valuable?
Have a clear statement. – Even as a new graduate, you need to have a personal brand. What do you want to do? What are you about? The more specific you are, the easier it is to have focused search. For example, my friend knew she wanted to join a private physical therapy clinic in Colorado, which eliminated the need to look for jobs related to hospitals, sports teams, and university research. You might think narrowing a search will limit your results and make it harder to find a role but the opposite is true: Too broad of a search will drain your energy and dilute the opportunities you find.

Last year, a friend decided she wanted to go to a trivia night for her birthday. We found a pub quiz and invited a bunch of people. The people around the table represented a pretty smart crew, so I assumed we had a good chance of winning.
We got crushed.

A handful of us really enjoyed the evening and decided to return the next week. For the past year, we’ve gone consistently. After a bunch of wins, I considered the other teams. Were we “smarter”? Did we get “lucky”? I recognized a lot of the people at the other tables. We weren’t the only team competing consistently, but why were we winning so often? A visual suggested what the reason might be. A few questions to the other teams confirmed my thesis.

Our team looks “diverse.” We have two women and four men. We have members of Asian, Hispanic and European descents. Our team does not contain the “smartest” of the original group – we left behind a few PhDs and Ivy League graduates – but we’re a group of people who have mutual friends in common, have lived in different states and countries, speak different languages, enjoy different types of music and genres of film, and work in different industries.

Most of the other teams comprise people who work together at the same company, or in the same industry, are close in age and have similar roles. Every team consists of six people but when it comes to trivia, six similar people, I’ve learned, are unlikely do as well as six very different people.

Diversity of experiences, backgrounds, education, and worldviews are as important to trivia teams as they are to cohorts in companies. On any given quiz night, we need either one person to know the answer or for the team to deduce an answer from various pieces of information. We don’t get points for each person who knows the answer individually.

The quiz environment welcomes the contribution of different answers. Everyone on the team has both given incredible answers and been incredibly wrong. We’ve learned each other’s strengths and how to utilize our differences to give ourselves the best chance of arriving at the right answers.

Like our trivia team, the most successful companies do two important things well:  1) identify, attract, and retain ideal combinations of people and required skill sets, and 2) foster cultures and environments in which teams support each other by fully utilizing everyone’s strengths.
Are you ready to make improvements in your organization? Capitalize on your diversity.
by Karen Crofton
Monday, December 03, 2018

The world of start-up investing is often messy: different companies at different stages of the process have different goals and different business models. All, however, have advisors and/or investors who have communication expectations.

Failing to meet the expectations of an advisor or investor will lead to their frustration and you may risk a lack of future support for your company. Setting the format and timeline of communications early will give your stakeholders confidence about how and when they’ll be kept up to date. Also, by providing standard data, the start-up can help investors who have  a large number of investments keep track of the same elements throughout their portfolios.

Getting started

It’s important to have clearly defined Key Objectives, as well as the Metrics that show progress toward those objectives. Be sure to list both what is going well and what isn’t. Your stakeholders can’t help if they don’t know you are having trouble. Consistent timing of your communication is another key. The frequency may change over time but be sure to keep stakeholders apprised of any upcoming changes to the schedule, as well as revised dates for communications so they always know when they’ll be hearing from you. Know your audience. It may be necessary to have versions of updates if, for example, you’re sharing sensitive information with your investors that will not be shared with the broader array of stakeholders. Ask for – and be open to – feedback.  You can’t cater to everyone’s preferences but if you receive multiple comments that something isn’t useful, don’t be afraid to adapt.

What data?

Every start-up is different but some classifications of data are fairly standard across the board:

Funding – Raise history and terms. If you are still raising, what’s the status of your current round?
Finances – Revenue, Expenses, Burn Rate and Cash Available, Break-even. Reporting time frames dependent on what stage company you have.
Product – Phase of development? Testing? Adaptations? Issues with competition. IP status.
Traction – Customer Acquisition and Retention Rates, Revenue Per Customer or a Customer Lifetime Value, Cost of Acquisition
People/Operations – Staffing/Office Updates, Partnerships, Press/Publications
Asks/Thanks – Be clear about specific help you need and/or thank those who have already helped

Tuesday, October 30, 2018

Michael Jordan – MJ as he’s often known – wasn’t the only great basketball player, yet he has achieved more longevity in fame and fan adoration than some of basketball’s other greats. What made Jordan’s career so sticky even as players like LeBron James dominate today’s games? The answer will illustrate how you can create a more successful career for yourself.

Check the stats

MJ extended his brand through his line of shoes and movie cameos, but those feats were only possible because of his exceptional stats as a player. Even James hasn’t surpassed MJ’s NBA record for points per game. Jordan is ranked third in all-time steals, fifth in all-time two-point shots, and fifth in all-time free throw points.
Unlike many other sports, basketball fully relies on the team. In baseball, the pitcher can strike out every batter. In soccer, a goalie can prevent every attempt. But basketball requires five players to work in concert with each other in fluidly defined positions. Similarly, this is how most people work: as part of a team, each with different skill sets. While the goal may be clear, the pathway to get there – and your teammates’ responsibilities – may not always be clearly defined.
MJ’s records are impressive, but equally important to his story are the stats in which he was not an NBA leader: MJ isn’t in the top 100 for all-time rebounds per game and falls out of the top 40 in assists. As coaches remind their teams, “Defense wins championships.” Defensive skills may be considered a supporting role and not directly correlated to winning, but no game is purely offense. Playing defense may be less fun and exciting than scoring, but the strategy is necessary to win.

Your colleagues are your teammates

For most of us, the same scenario unfolds at work: a successful team will be diversified and allow each member to perform the tasks for which they’re best suited, yet some of those tasks may seem less “important” than others. Some of the team members will be viewed as most responsible for the success of a project, and these team members will be able to show their “stats” as direct outcomes on their résumés.
That is not to say that you will only be viewed as successful if you oversee every project or promote yourself at all times. But as you tackle every assignment or task, ask yourself “What stat will I have for myself when this is done? Am I providing a supporting role which might be underappreciated?”

How to get noticed as the star player

How can you best ensure that your assignments will be viewed as high-value activities? It’s key to have a deliberate process for accepting new projects and tasks:

* Ask questions and ensure that you understand the strategy or goal.
Determine how your part fits into the overall effort. Do you have a supporting role? Could someone else easily take on this role, or do you             provide a unique benefit to the team?
*  Do not assume that you must accept a role exactly as it is presented. If you are being underutilized, determine how you can better employ your skill set to benefit the team.
*  Do not, however, over commit your time. Simply taking on more tasks than others is not a high-value activity. Overextending yourself can cause the quality of your work to suffer and will likely leave you unable to pounce on great opportunities when they arise.

Once a project has begun, create a weekly status update. (If you’re unsure what to include, there are templates available online.) Your boss may or may not ask for status updates, but it’s worth keeping records for yourself. This tool will help you ensure that you’re prioritizing your own high-value work. Remember: scoring is more visible than assists.
Once the project is complete, you will have a summary of your accomplishments, which can be added to your résumé and which will help guide you on your next assignment by highlighting what you’ve learned and where you are ready to accept more accountability.

Be like Mike