Ambition is not a Dirty Word

How and Why to Form Your Own Informal Board of Advisors—Now

We all experience it: finding ourselves at a professional fork in the road.

So it’s not surprising that one of the most common questions I get from clients and readers is: “What do I do when I hit the wall professionally?”

The single most powerful tool for pulling out of a career stall is forming your own informal advisory board.

I first discovered this secret as a rookie entrepreneur. 

I’d finished my thesis and Ph.D. in record time; I was both inspired to move forward with my career goals and scared about survival issues. I had a fire lit inside as well as under my butt;  my progress in these early career years was often slowed because of the compromises I had to make for the practical concerns of supporting myself and my son. I plugged away with my ambition target always on the horizon.

When I was 32 years old, my professional life finally took on some semblance of stability.  I had a coveted academic-track research position in San Francisco. Devin was about to enter grade school, which meant fewer childcare woes.  I’d finally gotten my license and was a bona fide psychologist. Even though I was struggling financially, there was light at the end of the tunnel.

Except that I found myself yearning to sunbathe in a different kind of light.

Inspired by a business article profiling what struck me as an intriguing up-and-coming field, I decided I wanted to start my own career consulting firm.  On the face of it, this made no sense. I was trained as a licensed clinical psychologist with a background in neuropsychological testing and forensic evaluations.  I hadn’t gone to business school and I had no real training in launching this venture.  And unlike today, at that time career and executive coaching were barely on the radar; this was a brand new, emerging specialty.

My psychologist colleagues said, “You’re crazy to do this.  It’s career suicide.”

But this was an ambition I yearned to fulfill.  I knew that I loved researching and thinking about what was going on in the business world.  I knew that I was smart, creative and tenacious.  I craved the independence, opportunity, and challenge of running my own professional organization. Pursuing my professional destiny felt as vital and organic as mothering Devin, maintaining my friendships, and other equally precious pursuits. I knew that I had something meaningful to contribute.

AND SO I JUMPED RIGHT IN.

I’d been in business for a little over a year when I discovered a mentoring program for women in San Francisco. Once a month, for a year, I would travel into the city with my business plan, strategies, and a raftload of problems in hand, and be mentored by a board of advisors on everything from setting up my accounting and books, sales, marketing and public relations to the emotional highs and lows of being self-employed.

In these two-hour meetings I, along with three other protégées, discussed our business plans and all the related obstacles and challenges with a group of fifteen to twenty seasoned, powerful professional women. We received frank, direct, nuts-and-bolts business tactics and real-time feedback and advice from CEOs, attorneys, C.P.A.s, marketing gurus, bankers, and senior executives in sales, public relations and finance. 

Having my career aspirations ratified in the face of personal upheaval was profoundly transformative.

Listening to the experiences and varied perspectives of so many successful businesswomen left me feeling confident and unabashed about pursuing my own big ambitions.  It also taught me how to take hits, toughen up, and get back up. My board also showed me firsthand: how to avoid naive mistakes; how to recognize talent; how to work collaboratively; and how to ask for and make great use of expert advice.  

We all need periodic feedback. No one can expect to reach their goals in isolation.

 

Here’s How To Form YOUR Own Informal Board of Advisors—NOW

Your hand-picked board of advisors will mentor and help you identify fresh opportunities, reduce your anxiety, and avoid rookie mistakes.

Here’s how to make it happen:

1. Assemble first-round draft picks. Make a wish list of movers and shakers—people you know personally, or have heard about. Target people who are at the top of their game and whose accomplishments and reputation you admire. Make sure their values and ideals are in alignment with your own; you want mentors who will lift you up, inspire you, and challenge you to be your own rival.

2. Keep in mind that your advisors needn’t be in your same field. Your goal is to create a group offering diverse, complimentary areas of expertise, gold-standard career advice, and ambition brainstorming in as many areas as possible.

3. Don't be intimidated at the prospect of approaching the best and brightest. If someone turns you down, don't take it personally.

4. Start e-mailing and phoning by sundown today. Ask if they’d be willing to be an informal adviser, explaining what it entails.

5. Emphasize that you’ll always be respectful of their time. For example, you’ll contact them periodically with a brief e-mail or phone question, or drop by their office occasionally for a quick, mission-critical question. Or you'll have quarterly 20-minute Skype check ins with your team. Or you’ll meet with your board for coffee or cocktails every four months and you'll pick up the check.

6. Draft your one-page career or business objectives plan. Include specific ambitions, ideas, questions, goals, and obstacles. Write down detailed advice you need. E-mail to board members in advance of group or one-on-one meetings; give advisors time to brainstorm before speaking with you.

7. Focus on listening.  Ask only clarifying questions. Resist saying, "Yeah, but here’s why that idea won’t work for me..."  I call this the Yeah, But-Rebuttal, and it's a sure-fire way to turn off your team. Keep an open mind. Give yourself time to absorb new ideas.

8. Become a techie.  Record phone conferences (with advisors’ permission) or set up Skype sessions; don’t be afraid to pull out an audio or video recorder at live meetings.

9. Follow your advisors on social media. Here, they may offer tidbits of information and advice. Don’t be afraid to comment or respond via this venue.  

10. Share your wins and say thank you. Let your advisors know when you achieve a big goal or accomplishment. Old-fashioned, handwritten notes offer an elegant touch.

 

Star achievers and people who love their work use this secret weapon. Follow their lead and soon you’ll be back on track with clear ambition objectives and on the right road to making the contribution you were born to make.

Sincerely and ambitiously,
Debra

Ten Steps to Thrive in 2011

Economists say the Great Recession -- the longest and deepest since World War II -- ended 18 months ago and that the U.S. economy is, in fact, growing again. But growth is relative. Even the rosiest economic forecasts for 2011 come in well under 3 percent growth. Unemployment is still high, and consumer spending is still sluggish.

That doesn't mean sit and wait for things to improve. Rather, retool for the economy that exists today, and will be lingering for many tomorrows. Here are 10 places to start.

1. Overhaul your business plan. Rethinking your business plan can help you spot new opportunities and point your company in the right direction. For step-by-step advice, check out the U.S. Small Business Administration's guide.

2. Double down on what works. Whatever paid off in 2010 is worth investing more time, money and resources next year. Ask yourself: What was your top-selling product or service, and how can you get your customers to buy more? What money-saving strategies went straight to the bottom line? What incentives or promotions got your customers' attention?

3. Experiment. The best time to try something new? When the old isn't working. It may feel safer to stay in your comfort zone, but sticking with the same old product, service or marketing strategy might actually be riskier.

4. Fire your D-grade customers. Make a list of your customers and give each of them a grade. Then dump everyone below a C--or a B, if you can afford it. Once you've separated the winners from the losers, put a plan in place to turn those laggards into A-listers. Going forward, use those criteria to size up new business.

5. Become an 'A' customer. When prices are low, as they are now, it's generally a good time to lock in long-term contracts with your regular vendors, contractors and suppliers. Indeed, you might be able to negotiate a lower price in return for the promise of your business. 

6. Expand your network. Facebook and LinkedIn have their uses, but they'll never replace face-to-face meetings, especially to win new business and get referrals.

7. Leverage your brand. "What do you bring to the table that no one else is serving up to clients and potential clients?"asks Debra Condren, a New York business psychologist. "You must first understand what sets you apart and then become completely fluent in communicating to your target audience what separates you from the herd."

8. Get some credit. The mortgage market is starting to thaw, and that's good news for small-business owners who can tap their home equity for working capital. If you have good credit and some equity in your house, now may be the time to refinance before interest rates rise.

9. Fire up your employees. Think about creating a bonus plan to motivate employees to hit your 2011 goals.

10. Team up. Working with "channel partners" -- companies that target the same market but with products or services different from yours--can be an ultra-efficient marketing strategy. 

 

This posting was originally written by Rosalind Resnick as featured in The Street.

Your Money - Financial Advice by Women for Women - NYTimes.com

Money advice is universal, but some issues affect more women than men. Experts also say women tend to be less knowledgable and confident about finances.

Do Less and Make More

Dear Debra:  I absolutely love my work. Being a small business owner demands a ton of hours. In addition to my career, in my personal life, I manage everyone’s schedules, laundry, plus field, “Mom! Honey! What should we do for dinner?” I need another me--or a wife. Advice?  –Overwhelmed

Exciting News from Carol Jenkins

We have some exciting news we want to share with you, a member of The Women's Media Center extended family: the WMC has acquired SheSource.org, the online database of over 500 women experts. This makes the WMC the definitive source for women analysts and experts -- and meshes perfectly with our intensive media training program, Progressive Women's Voices.

Click here to read more about WMC and SheSource.org

How to Navigate your Annual Review in This Bleak Economic Enviroment

Dear Debra: My annual review is next week.  Should I negotiate for a raise or just be glad to have a job?

Always negotiate.  What's the worst that happens?  You learn there's a freeze on raises or bonuses, so you negotiate for non-monetary perks: an updated, more prestigious title that adds more cache to your resume; an opportunity to take over as editor of your company's industry newsletter or head up a project you have stars in your eyes for; working one day a week from home to cut out two hours a week of commuting time and cost.

The First 10 Things You Should Do When You Get Laid Off

1. Take a deep breath. Put aside emotions. Think rationally about practical questions you need to ask in the here and now. Go into calm, problem-solving crisis mode. Take notes. Say: “I want to jot this down because I’m sort of in shock and want to be able to remember what we discuss.”
   
   
2. Negotiate your severance package. If your employer offers two weeks, negotiate for two months based on stellar performance. Can you cash in unused vacation or sick days to be included on you final paycheck? Will your lay-off package provide outplacement services such as career coaching?
   
   
3. Offer to be an independent contractor on an hourly or project-based rate; your soon-to-be-former employer may become your first consulting client.
   
   

How to Start Your Own Business While Working Full-Time For Someone Else

Dear Debra: I’m dying to start a small business. How can I find time to set myself up as an entrepreneur while working 9-5 for someone else?

Claim two hours a day for start-up activities. One is for creative, strategic, hard planning—activities that require your brain to be fully awake and fired up. The second hour is for the roll-up-your-sleeves, boring, rote grunt work that doesn’t call for mental alertness or focus—just time. Every one of us can find two otherwise wasted hours, no matter what our work and life situation.

Get Unstuck by Recognizing Your Expertise

Dear Debra: I’ve reached the highest level possible at a small company. My well-paying, mid-level marketing job leaves me depressed and uninspired, but I can’t see any other options for someone like me who just lucked into this job and stayed for five years. –29, boring, and stuck

Take off your blinders. Your success is a result of your own talent, hard work, and volition—not luck. I give my clients a simple exercise to remind them of their marketplace value:  Go through your resume and take in the sheer volume of experience and knowledge you’ve accumulated. Then update your resume.  Write down everything you did and learned on the job.  Go through your files to refresh your memory about your educational and professional accomplishments. Record recent wins, awards, raises, formal and informal feedback. Get your successes out and in order.

PROTECT YOUR PASSION IN 2009

It has been said that "the surest way to keep a man in prison is not to let him know he's there."  And the surest way to keep a woman from embracing her pure career ambition is to make her believe she's already done it. 

Don't believe it. 

Heading into 2009, we women still are not advancing in our careers the way we should.  We're not getting the fulfillment we desire or making the money we deserve.  And this time it's not men who are holding us back.  This time, sisters, we're doing it to ourselves, because ambition-for us-is still a dirty word. 

Do you unconsciously buy into our prevailing cultural paradigm, that double standard that says: ambitious men are go-getters, but ambitious women are bitchy, greedy, cold, arrogant females who attract enemies, repel lovers, make rotten mothers, live lonely lives and, in one way or another, miss out on fulfilling lives because of their ambition? 

Are you not advancing in your career as quickly as you'd like?  Are you not making the money you deserve and getting the fulfillment you desire?  Are you afraid of what you might have to sacrifice if you pursue your big goals? 

YOU'RE NOT ALONE.