Thursday, March 11, 2010

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Georgia Tech Paul Johnson Lesson for an Entrepreneur

So I was driving to the office from a meeting today and listening to 790 The Zone.  The subject was Georgia Tech’s loss to Iowa in the 2010 Orange Bowl.  So as a Georgia Tech grad I was lamenting the loss and curious to hear the comments of callers and the local expert on the radio.  One of the comments caught me off guard and got the business side of me thinking about entrepreneurship.

The caller said something like “Coach Johnson has brought 3 things to Georgia Tech football” -

  1. Attitude
  2. Discipline
  3. Execution

People, books, commentators are full of these intangible statements in both business and football.  But, this one hit me because I have seen these 3 things in real life in the games that Georgia Tech has played over the last 2 years.  Prior to Paul Johnson, Georgia Tech looked flat, the games were vapid, and the fans were disinterested.  We won a decent 7 or so games a season.  Paul Johnson comes on the scene and there was an immediate attitude change.  All could feel it.  He had an attitude that to me was one of a true victory mindset. Though he talked and thought of victory he also demonstrated an attitude that it was going to take focus, hard work, and execution.

I like football – mostly at the collegiate level.  I wasn’t a player (outside of an occasional sandlot game) and thus, I don’t understand it like some do.  I have learned what the triple option offense is and I’ve learned (and observed) that it takes an incredible amount of discipline and focus to run it (and win with it).  Thus, the discipline Paul Johnson brought is very apparent.

Execution – Though not pretty Georgia Tech has executed under Paul Johnson:  1st Season they went 9-3 (regular season) with a win over UGA.  This year:  ACC Champions and a berth to the Orange Bowl (with a bad loss to Iowa).  Nonetheless, Paul Johnson has led his team to execute his different style offense to win football games.

So I was thinking – what does this mean for me? and for business this year?  What does this mean for the entrepeneur?

Attitude:  I’m calling 2010 the year to make money – this is the year I have to make it on my own.  So there is my attitude change.  Last year it was the year to figure out my next step.  When the market crashed so did all of my real estate development and finance work.  Thus, I spent a good portion of 2009 figuring out what and how.  I entertained and explored a number of different opportunities. Well now these different things have focused down to two paths – these two paths will make money this year (I pray this and hope it by God’s grace) .  Why? How?

Discipline:  Each day I will focus on working my business plan; I learned this from The Entrepreneur School.  Much like the athlete training each day for the game so will I work each day to meet my desired end – making money.  Each day and week will consist of a disciplined approach to working and adapting the plan as necessary.  2010 is going to be a difficult market as we’ve read here so it will take flexibility and thinking quickly to achieve the goal of making money.  Also, discipline requires focus – no more chasing Alice through wonderland.

Execution:  Through discipline and focus my hope is a measurable increase in revenue will occur.  Then I will judge my execution.  If I execute on the plan and no revenue well I’ll be able to see what needs to be changed.  Execution means results and results in this case are financial.

I’d love to get your take on these three attributes:  Either how you’ve used them before and seen success or how you intend to use them for future goals.

Cheers to 2010 – to Attitude, Discipline, and Execution for the Entrepreneur.  May it be the year you make money as well.

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Dude, where’s my job? Part II

Thomas Friedman wrote an interesting Op-Ed in today’s NY Times about the new job market “untouchables.”  He is referring to employees that cannot be fired by their employers.  In the recent past, the untouchables were the lawyers, the engineers, and the accountants.  When our current economic trouble hit, these were some of the first jobs to go.

Why?

Two reasons.  First, part (certainly not all) of the job duties for these types of employees were able to be outsourced.  And secondly, some of these employees had a strong sense of entitlement and were not bringing new ideas to the table.

If you missed the first part of this blog, click here to read about the necessity of being creative in your current job, or realizing that your job duty is going to be outsourced and learning a new skill set.  To obtain this new skill set and new way of thinking, Friedman writes about the central challenge (italics mine):

Those with the imagination to make themselves untouchables — to invent smarter ways to do old jobs, energy-saving ways to provide new services, new ways to attract old customers or new ways to combine existing technologies — will thrive. Therefore, we not only need a higher percentage of our kids graduating from high school and college — more education — but we need more of them with the right education.

The right education will be critical.  I look back at my master’s degree training and 95% of my courses taught me how to thrive in a corporate setting.  I learned the intricacies of corporate finance and accounting.  These are all skills I could have learned on the job.  Anyone can be taught how to reconcile a balance sheet.

But there was only one course that taught me how to think.  This was Jim Beach’s Entrepreneurship course.  I believe in The Entrepreneur School because the new skill sets necessary in the world these days are critical thinking and innovation.  All this mixed with a personality that makes you able to communicate your ideas.

These skill sets can be learned, but most likely not in your typical college setting.  That is why a new method of thinking entrepreneurially is what will set you apart in today’s job market so that you become an untouchable.

And take a look at this article from today’s SiliconIndia.  Companies within India are now adding tests in the hiring process to determine if the candidate is an innovative thinker.  Doing the job alone is no longer going to cut it in today’s economy.

 
icon for podpress  Dude, where's my job? Part II [2:20m]: Play Now | Play in Popup | Download
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Dude, where’s my job?

The latest stats say that 9.5% of Americans are unemployed.  Many of these people had jobs that no longer exist or exist in another country.  And interestingly enough, their children will likely have job duties that they could never dream possible.  No one would have believed you 20 years ago if you told them you would one day be in charge of online social networking for a Fortune 500 Company.

My point here is that the job market is changing.  Rapidly.  I currently design websites for a number of small – medium sized businesses and I am convinced that I will no longer have work desigining websites a few years from now.  There are programs that make website design so easy that I think it will only be a few more years until website design will be so simple that 2 year olds will begin putting up their own sites.

If I can see that future ahead, what am I spending my time on now knowing that website design is a dying field?  Am I learning new techniques for .html design?  Sure, in the day to day process.  But am I spending the majority of my time on learning a skill that can be done elsewhere?  I hope not.

The way that jobs are done elsewhere is through improvements in technology and through outsourcing (production in another country with cheaper labor, higher skills, or both).  Can the job you are in now be done better by technology or by cheaper labor?  Be honest.  If your job is replaceable, then become irreplaceable within your job, or start learning new skill sets for a different line of work.

A way that I see staying in website design is to become a website consultant.  Sure, design will be a simple project a few years from now, but that doesn’t mean companies will be any smarter in presenting their niche online.  It doesn’t mean individuals will know the best way to promote their music, art, or books online.  A website consultant doesn’t spend time on learning the intricacies of website design.  They spend time learning how successful companies have employed website strategies for building their sales.

On the other hand, if you are getting paid $15 an hour to sew t-shirts, it’s time to start learning some new skills.  Becoming more proficient at sewing the t-shirt will not stop the company from moving to a country where those sewing make $1 an hour.  If you are fighting to hold onto that type of job and spend your time petitioning the government to stamp a quota on t-shirts coming out of Timbuktu, your working days are numbered.

 
icon for podpress  Dude, where's my job? [2:42m]: Play Now | Play in Popup | Download
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