The Leap

Career Hacking - Have You Engineered Your Career for the New Economy?

 

I wrote The Leap: Launching Your Full-Time Career in our Part-Time Economy to help people see that the world fundamentally changed during the global recession that started in 2008. Many believe that we are finishing a long and slow crawl back to normalcy. This is a dangerous misconception and form of mass cognitive dissonance as we hope and wish for things to be the same as there were in the past. However, deep down I think most people feel that something has changed. We have entered a new economy with new rules and together we face changes with continual globalization, rapid technological advancements, and confusing and onerous local and global regulation that all combined to provide a dichotomy of challenges and opportunities to us all. Some of us will reap great benefits while others will face stress and difficulties.  I believe what we each experience will be based on how prepared we are and what changes we made to engineer our lives and careers to operate in this new global marketplace. To read the entire article click here.

Order The Leap: Launching Your Full-Time Career in our Part-Time Economy at these following locations.

Barnes and Noble    Books-a-Million    Amazon.com

Unemployment Rates Based On Education Level

This graph from the Bureau of Labor and Statistics is telling.  I have highlighted on multiple media outlets this year the current problem we have with graduating college students with massive student loan debt unable to find work.  It is important to understand I value education and think it is VERY important but I do not encourage students to go into debt to finance it.  

I also encourage students to make sure they have taken a Career Direct assessment first to understand where they are passionate and gifted and most likely to be successful.  You don't want to get a degree and start a career where you will be unsatisfied or not be able to unleash the God given talents you have been blessed with.  If you would like to have a personal assessment done you can contact me at www.RobertDickie.com and I would be glad to help you.

My advice to all high school students is to continue to gain as much education as possible even if you are not going to attend college.  Some of the most brilliant and successful people I know are self-taught who sought a great mentor, applied for an apprenticeship, and continued life-long education with self-study.  Importantly, these people took the leap early and started their own business.  If you are not going to further your education after high school by attending college it is important to be going into a skilled trade or starting your own business.  

If you are deciding on a career path, in a mid-career transition, or unhappy with your current employment and thinking of other options this article might be helpful.  In my Fox News article 8 Mistakes We Make that Lead to Unsatisfying Work I provide tips to help those in transition to make a decision that will lead to fulfilling next step in your journey. I hope this is helpful.

Step 2: Avoid Anchors

Many years ago I stood with an older colleague on the deck of his beautiful home as we talked about where he was in life, the challenges he was facing, and the stress that was piled on him that most people did not know about.  On this occasion, he muttered a phrase that has stuck with me to this day.  As the summer humidity hung in the air, he looked out over the city and said, “Bob, most men live lives of quiet desperation and no one ever knows about it.”  It had a chilling effect on me that night and it is something I have grown to better understand over the years.  Here stood a man who had accomplished so much in life, had every sign of material and corporate success, beautiful family, the life that most people dream about and yet he was miserable.

Being a close friend and confidant, I knew he felt trapped.  He was anchored in life, in a career that left him unfulfilled but always yearning for more, trapped by his material success and not even enjoying it.  He was on a treadmill where the pace continued to increase and he was tiring but could not jump off.  It was easy to see he had all the wrong anchors in life.

There are good anchors like family, faith, and traditions that keep us anchored and grounded on our journey in life.  We need to build and protect those anchors.  They become the bedrock upon which we can create a meaningful life.  However, there are negative anchors that hurt people as they start to build their careers and those are ones we need to understand and navigate carefully.

In my FoxNews article, “How to Build a Full-Time Life in a Part-Time World” I listed seven things people can do to have success in navigating through a challenging economy and job market.  The second tip I gave was to avoid anchors.  Those coming out of college looking to land a job need to be flexible and to build a life that allows them to transition quickly in their twenties and thirties as they maneuver in this new economy, take different positions, work with multiple companies, and craft a career that will look very different from their parents and grandparents.

The same flexibility is needed for the mid-career professionals and a new growing demographic, the 55+ year olds who are crafting a second career for the next stage in life.

Common Anchors

Over the past year, I have spoken with young and old alike who are navigating this economy and have been amazed at the anchors they place in their lives that prevent them from taking great job opportunities.  Here are common phrases I hear:

1)   I don’t want to leave this city. 

2)   I need to live near my family.

3)   I can’t sell my house.

4)   I need to make “X” so I can’t take that new position because it would be a step backwards even though in the long run it would be a greater opportunity for me.

5)   This sounds like a great opportunity but I was looking for something else and this sounds like a difficult assignment.

The anchors come in forms of physical constraints like needing to be locked into geography or having lifestyles that prevent them from being flexible.  The anchors can also come in the form of mental barriers such as a perception or fear.  Both hinder the individual from being able to seize and maximize great opportunities when they are presented.

Advice for Millennials

My friend and colleague, Calvin Dillinger has written an excellent piece for millennials titled "Upgrade You."  He gives great advice on things to avoid and how to save money.  If followed, this can help prevent anchors, reduce debt, build cash reserves, and help establish a life where you can be flexible and transition quickly when opportunities are presented.

Don't Build  Your Prison

Looking back on that night many years ago with my friend talking about the issues he was facing his anchors will resonate more with the mid-career professional who feels trapped.  He had created anchors in his life that became a prison.   He was on a career path he could not change because of his lifestyle…multiple homes, boats, and the monthly overhead to keep it all going.  He had crafted a public perception of success and he could not walk away from this life.  He had created his own prison that he could not escape although he was talented in many other areas and could have been successful at many things.  To this day, with a smile on his face and cheerful greeting to those around him he labors down that path but is quietly unhappy and unfulfilled every minute of the day.

His words will stay with me for the rest of my life and I will continue to use them as a cautionary tale to those seeking advice on how to plan a successful life.  In my last post, I wrote about making sure that we are in alignment with our gifts, skill-sets, and passions because only then will we be able to work towards a career that is meaningful to us and those around us.  Do you want to make a difference in the world?  Start with doing something you love and are passionate about.  Only then will you really unlock your potential to be able to exponentially make the world a better place. 

 How to Stay Flexible

With that said, here is my parting advice on avoiding anchors in your life.  I have seen these to be big anchors that hinder people from seizing great opportunities that are presented to them.

1) Debt = Work hard to stay out of debt. The more debt you have the less flexible you are and the less options available to you.

2) Geography = Early in your career don’t lock yourself into a location.  Be willing to move often to take new jobs and advance within your company or industry.  Being flexible so you can move is a key to advance in this economy.

3) Mortgages = Be careful when you do decide to buy a home…this can be a very big anchor in your life.  If you do things right this will not be an anchor.  Your mentor can help you with one.

4) Lack of Long-term plan = If you are married have an understanding with your spouse on what level of flexibility and risk taking you both feel is okay for your family.  Both partners need to be on the same page.  Have a plan and be working on it together!

5) Lack of Liquidity = Maintain a cash reserve.  In business they say “Cash is king” and in your life “Cash equals flexibility.” 

Start with self-awareness about your skills, passions, and goals.  Then avoid anchors to help you as you start your career as well as help you transition and progress throughout your career.  There is nothing I enjoy more than seeing someone operate within their sweet spot, being passionate about what they do, and helping others do the same. 

A Great Example

The best example I have to offer is my friend Jeremie Kubicek who is the Founder of Giant Impact.  Jeremie operated for years as the CEO of Giant Impact but he realized his passion was teaching and inspiring others and he wanted to do more of that.  He recently sold everything he had and moved his family to London to start a new division in the company that helps executives and leaders maximize their potential.  His keen understanding of his gifts and passions combined with his flexibility and alignment with his wife and children has allowed him to embark on an incredible journey and he is impacting world leaders right now because of it.  As you take The Leap at the beginning of your career or later in life he is a great role model to inspire all of us.

If you have questions, contact me at RobertDickieIII or via e-mail at [email protected]. 

Building a Full-Time Life in a Part-Time World

The unemployment numbers released last week that report an unemployment rate in this country of 7.4% and the anemic creation of 162k jobs in July down from our 2013 monthly average of 192k per month hid startling statistics of the new economy.

In 2013 77% of the jobs that have been created were part-time.  When you calculate the unemployment numbers with the number of Americans under-employed (working less than 35 hours a week) our unemployment rate is actually around 14.3% reports the New York Times.

This is the slowest recovery in the past 70 years with unemployment rising, part-time jobs becoming the norm, incomes decreasing, and those with savings facing a “no-margin” investment era.  It is official, we have a new economy with new rules.  To win and have success in this new era we cannot play the game with the rules of the past.  This is not our grandparent’s economy.

This past week I wrote an article in FoxNews titled Jobs hunt getting you down -- how to build a full-time life in a part-time world.  I provide 7 tips for those looking to have success in this new era.  An interesting aspect I was not able to elaborate on in this piece is the fact that due to the dire jobs situation in this country entrepreneurship is rapidly increasing.  From 2000-2007 it has been reported that at the top MBA programs in the country upwards of 50% sought jobs in the finance sector upon graduation.  After the crash of 2007 graduates at those same institutions have been rushing to become entrepreneurs with a growth rate that has tripled in the past three years.

Clearly they see the game has changed as well and are seeking the best opportunity available by taking matters into their own hands and creating their future by starting a company and becoming an entrepreneur.  The tips I provided in my article apply to both the person looking for a job or the entrepreneur looking to create a company and build value for themselves, their employees, and investors. 

 Success tip number one is “Plan Deliberately.”  Having a plan that is written down that you can execute against is critical to success.  It has been said if you don’t have a plan you are planning to fail.  As a starting point for all aspiring entrepreneurs and those in the job hunt I recommend taking a Career Direct assessment test and using this as a foundation in your career plan.  This tool can be expanded with your mentor or advisor and will help you make sure that you are on the right path based on your skills, likes, and values.  Nothing is worse than getting to the end of your journey to find out that you hate the location you have been striving to reach.

Finally, for those who are beginning or are already on their entrepreneurial journey and wish they had more formal business education and training I recommend looking at the Venture Academy video series by Wade Myers.  Wade is a Harvard MBA and Baker Scholar (graduated Top 5% of his class at Harvard) and has been a successful venture capitalist that started over 20 companies.  Wade had a goal of providing a Harvard MBA style education to the masses using a video based system and online resources.  His system uses Harvard cases studies and goes through all aspects of business acumen.  You can learn more of about this great program at Venture Academy -- Starting Up.  If you have any questions regarding my article or these programs please write me below and I will be glad to answer them for you.

Remember, taking action helps remove fear.  If you have been thinking about starting down a new career path or starting on your entrepreneurial journey don’t waste any more time.  Take the first step or better yet...THE LEAP!

Let's Get to Work!

Unemployment and underemployment levels remain well above normal as the global economy continues to slow.  An economist at Harvard Business School recently stated the world needs to prepare for potential contraction of the global economy by 2-3% per year for the next few years.  What does this mean for the workforce here in the United States?  College graduates are entering an environment where finding a job is difficult.  Mid-career professionals don’t have as many options as in the past and older workers are having a difficult time making transitions and finding work before they retire.  I am faced with these situations every day as I am asked for help by friends and contacts who find themselves in transition.

Today on FoxNews.com my article titled “Let’s Get to Work” gives practical advice and eight proven tips to help those looking for their dream job in 2013.   We all realize the rules of the game have changed so we must change the way we operate.  You might not be in transition or looking for a job right now but it is highly likely that you will be in the future.  What you do right now can prepare you for success when that day comes.

Did you know that college graduates today can expect to change jobs 10 times in their careers?  Long gone are the days when my family members in Michigan could enter a GM plant right after high school and have employment with the company for thirty years.  We can lament the situation or prepare for the future.  We have entered the “free agent” economy and those who know how to play the game will win and those who don’t will lose.  I think this new world offers amazing opportunity and flexibility for everyone in the workforce from entrepreneurs and employees alike.

This free agent economy will offer flexibility, opportunity, and excitement to those who know the rules, prepare to play the game, and execute with precision.  In the coming weeks ahead I will let you know how this economy is different, how to prepare, and how to be successful as someone in transition.  No one likes change but we all know it comes whether we like it or not.  Those who prepare have nothing to fear.  I believe those who prepare will have great opportunity and amazing success.

This blog has been titled “The Leap” and I have showcased entrepreneurs who have taken the leap from corporate America to start their own companies and enterprises as an entrepreneur.  We have highlighted success stories and talked about what to do, tools that can help lean start-ups have success, and the pit-falls to watch out for.  However, in the new free agent economy those taking the leap are not just new entrepreneurs but all employees who are leaping into this new economy whether they know it or not.   I hope in the coming weeks this blog will help those in transition and everyone else prepare for success in this current economy.  Understanding the new dynamics and creating a plan is the best place to start.

On March 19th our fourth entrepreneurs conference is being held in Birmingham, Alabama.  Doing Business in the New Normal will include ten industry leaders coming in to network with attendees and to disucss doing business in this new economy.  Guest speakers include Wade Myers, Managing Partner of Cherry Tree Capital and Harvard MBA, Henry Kaestner C0-founder of Bandwidth.com and Sovereigns Capital, Mark Conklin Senior Manager of Chick-fil-A, Peter Greer CEO of Hope International, Patricia Barnes Founder of Sister Schuburt Rolls, Kevin Thompson C0-Founder of Thompson-Burton PLCC and many more.  Come join us for a day of insight, learning, and networking.  

If you have questions, contact me at RobertDickieIII or via e-mail at [email protected]. 

Time to grab your surf board in the business world?

I love this blog post by Seth Godin referring to those entrepreneurs that enjoy the excitement of working hard and catching the big wave in the business world.  As a three year Hawaii native that spent many weekends up on the north shore surfing I can relate to this analogy. There was nothing better than working hard through the surf and waiting to catch the perfect tube on its way in to the sandy beaches. When the surf was bombing everyone on the island ran to hit the best beaches to catch the perfect wave. Some of the scariest moments of my life came on the north shore when I tanked it and the undertow held me down for what seemed like an eternity. The moment you are able to pop your head up in the ocean foam to gasp for air you feel reborn. That moment lasts for seconds as you quickly glance the next monster wave coming right at you and you have to prepare to take action.

I have found the business world to be the same way. There are moments of total exhilaration and excitement followed by periods where the undertows are holding you down for the count and you are fighting for air. What works in the surf on the north shore of Hawaii I have found works best in the business world. RELAX! When you get caught in the undercurrents on the north shore it is critical to not fight it but relax, save your energy and oxygen, and soon you will make it to the surface. The same holds true in the business world.  Everyone will find times where their back is to the wall, where the stress is at epic levels, where everything is on the line and a make it or break it deal seems lost. RELAX!  Being calm and cool on the north shore will save your life and it can also save your business! 

Gather talent and collaborate for success!

A key component to someone making the leap and becoming an entrepreneur and being successful in the transition is the ability to associate with great thinkers and business minds that can help you on your way.  This article from Fast Company Magazine highlights this importance and how groups around the country are trying to help people get together to exchange ideas and collaborate on projects.  I've been fortunate to be a member of the Young President's Organization (YPO) which has been an invaluable resource for me in my professional career.  However, when launching a new venture one of the best working groups has been a group of talented friends that I have met with weekly. Many times these meetings would be multiple times a week starting over dinner and would go until 1 or 2am as we hashed out business plans and shared ideas. Three separate ventures are currently underway from these very meetings and I think we all have learned a lot from each other.  

 

When trying to bring a group of people together to discuss your ideas it is important to ensure a diverse background but be sure those involved have true skill sets they bring to the table, are passionate about entrepreneurial pursuits, and are people you would like to be in business with.  I have found these working groups best to be no more than 4-5 people.  You don't have to be in Silicon Valley to launch a tech company or in New York to launch a media business.  If you have a great idea jump start it by gathering your trusted advisors and friends that can add to the project and start working together.  You will be surprised at where it takes you!   

New rules to help BMW and Daimler but hurts "Big Three"

This one has me scratching my head. The US auto industry is on the ropes with all three having been bailed out by the taxpayers to keep them running and yet our government is passing new laws that our auto industry must meet yet foreign car companies get a pass. This does not make sense to me. Read this article in the WSJ for more information. Stephen Power highlights that those companies who make under 400,000 vehicles a year do not have to meet these new fuel efficiency standards. Do we really have to give any more special breaks to industries operating here?

John Graham who worked under George W. Bush crafting fuel economy regulations is quoted in this article as saying, "Once companies become dependent on these provisions, they have an incentive to hire lobbyists and exert political pressure to extend those same provisions." I don't like special deals. If we are going to put new fuel standards in the industry I think everyone should have to meet those standards not just the big auto companies.

Good grieve, at least give our companies a fair playing field in our own country. They sure aren't getting any special deals over in Asia or in Europe!  What do you think?

Should We Adopt Failed State Policies For The Nation?

Shikha Dalmia writes an insightful op-ed piece in the Wall Street Journal weekend edition from July 11-12, 2009 titled The "Free Choice" Act and Binding Arbitration that everyone should read. The article highlights how disastrous this has been for states that have adopted it in the past and how the lawmakers who once supported it are now saying it was a mistake. However, the unions and President Obama's administration is pushing forward with policy on a national scale. Here are some highlights.

"In 1969, the Wolverine State embraced a form of compulsory arbitration nearly identical to the one proposed by the EFCA (Employee Free Choice Act) to resolve disputes with its police and firefighters. Years later Detroit mayor Coleman Young who authored the original law as state senator - rued what he had done. "We now know that compulsory arbitration has been a failure," he lamented to the National Journal in 1981. "Slowly, inexorably, compulsory interest arbitration has destroyed sensible fiscal management and has caused more damage to the public service than the strikes it was designed to prevent."

Wow! That is a compelling argument from someone who wrote the law, implemented the law, and got to see and experience the after effects of this policy for years as a state lawmaker and later mayor of Detroit. One would think his opinion and insight on this issue along with others who have similar experience should be listened to. The article goes on to state that in a state wide vote in Michigan years later that 54% of state employees turned down compulsory arbitration and nearly every newspaper in the state was against it as well. Why? They saw how this policy drove many cities in Michigan into bankruptcy which led to massive layoffs where everyone lost.

"A 2006 task force convened by Gov. Jennifer Granholm, who supports compulsory arbitration, found that local government costs in arbitration states are 3-5% higher compared to non-arbitration states...Given the fact that local governments in Michigan alone spend over 23 billion annually, this works out to over a billion in extra spending for them."

So this policy costs Michigan over a billion a year in extra spending. What will this cost us if we implement this policy nation wide? If you want to learn more about the unions read this article.

More Bad News For LA

My last two posts deal with the growing problem in California and how state lawmakers are trying to balance the budget and change tax law to deal with a busted state budget and a bankrupt state. Rick Newcombe writes an op-ed piece in the Wall Street Journal titled "Why We'll Leave L.A." that ran Friday, July 10, 2009. Once again, poor tax law and a anti-business climate is chasing out business owners due to the mismanagement of state government officials who can change the law at will, reclassify businesses to gain more tax revenue, and outright abuse business owners. The end result is these people are leaving and taking their jobs and tax revenues to states that are more "business friendly." The sad thing is President Obama's administration is trying to copy some of California's policies on a national scale. Why? Have we not seen what the end result will be? California is a mess and begging for Federal support to keep it alive and Washington thinks implementing those policies across the nation is a good idea? We should find states that have a pro business climate and follow their lead. Policies that help small businesses grow produce local jobs and increased tax revenue for the local and state economy which everyone benefits from. Taxing the hell out of business owners is as bad as sending all the jobs overseas.