What is your education for?

Your education serves multiple purposes. Which of these, though, should drive it?

At any point in the education cycle, from starting out in elementary school to heading back for an additional bit of knowledge or credential, three different things are going on simultaneously.

Firstly, you’re gaining some elements of knowledge. A few facts, a little bit of how-to, the odd fraction of “why?” enter into the puzzle. Think of these as modelling your mind as a bank: these are the deposits, to be cashed in later.

Second, you’re (hopefully) gaining some insight and ability to think about things. This allows you to creatively combine the elements in your bank, to see patterns, to apply things across subject areas, to think systematically and across disciplines and see many different opportunities in the situation. Think of these as creating you, the person, who later will be able to do many things.

Third, there’s the directly linked “do this, get that” of learning process, procedure, method and prescriptions that can be applied in the work place. It is the essence of what employers often mean by “job ready”.

Each of these has its place. But they all have different degrees of usefulness in terms of managing the risks and rewards of life and work.

There’s been an incredible premium placed by employers, policy makers, academic administrators desperate for more tuition and program dollars, parents and students alike on the third of these. Direct links between this program or this course or this element of study and that job opportunity have been prized in the past few years.

Obviously, if there is a guarantee of success in forging that link (say, getting the Project Management Institute’s PMP designation and work as a project manager), there is also favour shown across the board for what’s on offer.

This is why so many flock to community colleges after getting their Bachelor’s degree, and why so many “professional Masters’ programs” have come into existence. They’re academia’s competitive response to apprenticeships and industry certifications like the PMP.

But of the three, it’s the second — the ability to put information to work — that creates the most opportunity in the long run, even though, most of the time, it’s the least recognized as valuable by all the powers that be.

(Indeed, it’s been my displeasure to meet managers who, with a straight face, tell me they “don’t want people who can think, they want people who can do”. After having ruined many others’ careers, they almost always find themselves on the outside looking in themselves. In the meantime, though, many lives are affected by the attitude.)

While it’s the humanities that are most strongly identified with this type of capability, you can find it in continuing education, in two day courses you attend, and in a host of other places and subjects — if you look for it.

Yesterday, I had the pleasure of being a participant in a roundtable whose ostensible topic was community goals, concerns and ideas for the redevelopment of one of North America’s largest single zones of derelict industrial land in the heart of a city now assembled for ideas to be made reality, that brought community organizers, politicians, the agency responsible for the land, business people, and others together to exchange their views.

The chair of the meeting — who is also the Leader of the Official Opposition in Canada’s Parliament, Tom Mulcair of the NDP — made it clear that what would ultimately be needed to see that the “best” outcome occurred wasn’t to be found in advocacy of any single position, no matter how “right” it was. Both/and, rather than either/or, solutions would be needed. The ecology, the economy, the rights of First Nations, and the development needs of the urban area would all have to come together, probably with no one completely happy but with (hopefully) an outcome that brought out the best form all the threads making it up. We would, in other words, have to move from the individual things that brought us to that table, to thinking systematically across the boundaries.

He’s quite right about that. That kind of approach, in turn, draws heavily upon the second kind of education, even though there are no obvious jobs called “systematic thinker about problems”, no obvious degrees that lead to those jobs, and, indeed, the preparation is often derided!

Whether you’re looking for new markets and new product cycles (the sort of thing Blue Ocean Strategy is supposed to help you do), ways to get people animated by and supporting your cause, or just give them a reason to come into your coffee shop as opposed to another one, this is what your education is ultimately for.

I’ll close this by saying that I know of a fellow who’s said “here’s my life: I’m a barista, I live simply, and I’ll travel two or three times a year — I don’t want more at this point”. Most would say there’s something wrong with that lack of ambition. But what he does when he travels (because he goes for months at a stretch when he goes) is get a job as a barista wherever he’s gone to, so that he can hone his craft.

Perhaps one day he’ll want a shop of his own to own. Perhaps one day he’ll suddenly see the need to finish his education because he’s animated by an opportunity or cause. And perhaps one day he’ll need more money for a family.

Or, perhaps, his life will be spent more outside work than in it. We used to think highly of labourers who, having worked all day, came home and kept the little league going, or coached gymnasts, or wrote tracts, or donated all their spare time to their church. Today we don’t, and perhaps we should.

What’s your education for, and what it’s therefore worth to get, is, like everything else in life, a matter of “it depends”. How much education, and at what cost, is the place where the rubber of “its value to me and where I want to be” hits the road of “price in money and time to get the completion certificate”.

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Observe. Assess. Adapt.


Connect the dots
  

In adult discourse the phrase “connect the dots” can be used as a metaphor to illustrate an ability (or inability) to associate one idea with another, to find the “big picture”, or salient feature, in a mass of data.

Wikipedia

Putting money down to buy education with the intention of leveraging it for income purposes is an investment and a business decision. Risk included at no extra cost. Investigate before you invest.

“Self-evident truths” about life-long employment in one industry and the place of postsecondary education in securing that employment are being turned on their heads. We already know about businesses that have transplanted manufacturing jobs to low cost geographies for the benefit of shareholders, and about how employees dismissed here and their communities have suffered. We also know about how employees in those low cost geographies (Bangladesh and elsewhere)—continue to draw starvation wages while putting their lives at risk working in unsafe facilities. That shows no signs of stopping—yet.

Parents who considered a university degree for their children a foregone conclusion because people with degrees were supposed to have a bye into the good life barely paid attention to blue-collar and semi-skilled workers. They are now because the same thing is happening to the white-collar jobs their children were planning to fill. They’re being reclassified as unpaid internships or fixed duration contract positions or simply being shipped offshore. These are high quality jobs that call for locally available university education employers have deemed adequate, if not more than adequate, for the task at hand.

Now that the problem is coming into sharper focus, what happens next? The answer might lie in IBM’s recent past and can be summed up in three words: observe, assess, adapt.

On October 1, 1993, IBM shares opened at $43.13. This at a time when shareholders and others were accustomed to a share price in the early triple digits. It’s worth mentioning that multiple stock splits made more than a few employees of the early IBM millionaires. But the IT world was changing and IBM wasn’t. Rumours were circulating that the company was flirting with bankruptcy. The stock wouldn’t find itself in triple-digit territory again until August 1, 1995, when it opened at $109.12. On March 13, 2013, the stock closed at $212.06.

Analysts credit the arrival of Lou Gerstner (ex-Nabisco) with IBM’s turnaround. Some people would call it IBM’s return from a near-death experience. He was the first outsider in the company’s history to hold IBM’s top job. Landing Gerstner was no mean feat: many of the so-called “logical choices” declined to be considered for the position. Most were computer industry veterans and they were intimidated by the scope of the problem they would have been expected to solve.

Gerstner was neither an industry veteran nor cowed. Because of that, he saw IBM for what it was. He connected the dots in ways that others couldn’t about its internal workings and the workings of the competitive environment in which it was operating, and in which it had stumbled. He rejected the idea of breaking up the company, choosing instead to make the whole stronger and more responsive. Then he executed. History shows just how well he succeeded. (To compare Dell’s recent history, please click here. HP’s recent history is worth a look, too.)

The task facing soon-to-be high school graduates and their parents as they contemplate life after high school is similar to what greeted Gerstner when he took over the reins in Armonk: see the company in stark reality, not shades of Blue. For parents and their children, that may mean re-examining their expectations in light of what the economy and labour markets need now, not 30 years ago. The same applies to the street value of education.

The job is harder than it looks, not because the information to chart a course for their children is scarce, but because it’s too plentiful and it’s coming too fast. On its Big Data at the Speed of Business web page, IBM estimates that we generate 2.5 quintillion bytes of data every day about everything. Gerstner’s data universe was considerably smaller. The data he massaged were specific to one company in one industry and his margin of error was zero. But we should also remember that Gerstner was up to the task.

The 2.4 billion Internet users Internet World Stats estimates were active as of June 30, 2012, are exchanging information and ideas that have already been game changers. There will be more. The numbers you just read are real. They speak to the reality of a world we woke up to this morning that wasn’t the same as the one we fell asleep in last night. The cycle will repeat itself tomorrow and the day after and the day after and… you get the idea.

Most of that information will have no immediate or appreciable impact on you and your children. But some will. PDD asks 10 questions on behalf of its clients every day:

      1. What information do they need to consider?
      2. Do they know where to find it?
      3. Do they know how to interpret it?
      4. How will they test its reliability?
      5. How will they confirm its accuracy?
      6. How current is it?
      7. Where did it come from?
      8. Why is it here?
      9. What are its consequences likely to be?
      10. How do we make it relevant?

Substituting your name or your soon-to-be high school graduate’s name for “its clients” will make this exercise very personal.

Bloomberg Businessweek’s story in its May 6 – May 12 issue predicts the disappearance of 176,000 legal jobs in the US. The Toronto Star’s May 13th issue reported that Canadian law firms are outsourcing lower level jobs to India. Another profession that isn’t as sacrosanct as we thought.

The Toronto Star recently quoted Scott Pelley, anchor of the CBS Evening News, about news organizations in the wake of Cleveland, Boston and Newtown: “ ‘We’re getting the big stories wrong over and over again … Twitter, Facebook and Reddit are not journalism. That’s gossip. Journalism was invented as an antidote to gossip … It’s ‘a world where everybody is a publisher, no one is an editor, and we’ve arrived at that point today.’ ”

Education, youth unemployment and youth underemployment are three of today’s biggest stories. The media cover them: they don’t provide solutions. Thirty-somethings returning home because they can’t find work that pays enough to cover the rent and expenses is another big story. Pelley’s point was that, left to its own devices, the public tends to accept a lot of what it sees or hears or reads in the media without question or corroboration, and to base potentially life-altering decisions on it.

PDD believes that your child’s education has to be the right education or training at the right time in the right place and for the right reason. Failing that, all you’ll have to show for it is a diploma and a statement telling you how much you owe on your student loan. You and your children deserve more and better than that.

You also deserve to know that the times we’re living in haven’t been conducive to managerial creativity and imagination in selecting new employees, much less developing them. Finding key words in a résumé using screening software is about as black-and-white as it gets, and these days, things are very black-and-white. Non-technical résumés are being especially hard hit by these techniques which means that job search skills for non-technical positions will continue to be at a premium.

IBM made gut-wrenching decisions at critical moments so that it would still be with us today. That included doing away with the practice of employment for life. Until the world economy stabilizes, parents and children may have to hold their noses and adjust their expectations.

It’s a tall order, but PDD is more than equipped to handle it. Call or drop us a line and we’ll  explain how.

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Making your way in the world today without a degree or six

It’s become the point of entry, hasn’t it?

You must have a degree. One to pick up the trash, one to push paper from A to B (stamping as it passes over your desk), one to ask “do you want fries with that?”.

Or at least, that’s how it looks when you peruse the advertisements for positions open that come by.

Increasingly, too, multiple credentials are now required for ever less lucrative roles. A master’s degree to work not more than three days a week in a charity, for instance.

How, pray tell, do you turn $30,000 a year into something that can retire a minimum of five years’ university education — even as a commuter student at an in-province school you’ve probably spent upwards of $60,000 on it and that’s if you packed a lunch or did without — while providing food, shelter, transportation, clothing and the occasional bit of entertainment?

No wonder some students feel that suing their college because they didn’t get a better grade makes sense. No wonder, too, that noted career advisor Penelope Trunk published an article saying grad school doesn’t make sense on LinkedIn this morning.

The sheer mass of people who, having their Bachelor’s framed, rush to community college to get a diploma in “something useful” is a message to our society.

Whether you’re talking graduate studies after the de rigeur undergraduate degree or undergraduate education itself, it’s time to face facts. Schools are fundamentally expert in zitsfleish, or “sitting flesh”: can you stick it out?

What’s never admitted in public is that our governments encourage this explosion in educational requirements for all positions: those in school are not counted as unemployed.

So, in the face of things as they are, can someone make their way in the world without a degree at all? (I include community college diplomas as “degrees”: Canadians may not use the “Associate” degree nomenclature, but that’s effectively what the role they play.) Simply have a high school education, and “make it”?

Absolutely. You might even be wealthy.

We make a lot of entrepreneurship, but that’s not the only way to make your way.

Consider the artist (painter, sculptor, certainly, but also the actor, dancer, documentary maker, writer, etc.). Degrees in the fine arts may help hone your craft — but so does doing it. (In other words, going to the Royal Academy of Dramatic Arts is a path to a career in acting, but, then, so too is being in a theatre company and performing.)

If you’re willing to start by lugging things, or cleaning up, careers in kitchens, in construction, etc. still beckon. Cleaning rooms at the local B&B, mowing its lawns, etc. can put you in a position to one day buy it from the retiring owners.

Of course, if you rent a storefront and open an shop, or start madly coding in your garret, there are roads to a business life that don’t depend on credentials.

What all of these share is a different path, a path that isn’t formed by titles other people recognize as “ah, you’re a somebody”. Each is filled with risks — baseball players may still (at least half) leave high school to go straight into Single A ball and only a few make it to the major leagues “where the money is” — but each is also filled with something the traditional “go to school, get your degree(s), get on the corporate ladder” path doesn’t come with.

Independence.

You may be a struggling artist, whose works pile up in the corner and few ever sell, but that doesn’t mean you’re failing. It takes years to hone a style, and more years for the breakthrough to occur.

Still, those days are spent (when not moaning about pinched pennies) doing what you love to do.

Allan Holender, the author of Zentrepreneurism: A Twenty-First Century Guide to the New World of Business and Zentrepreneurism 3.0: The Inner Game of Conscious Business notes, the goal is to have a business (a way to earn your living) and a life (actually living), without sacrificing the second to the first.

Real success, in other words, is measured by more than money and title, no matter how seldom you hear that.

Given that upending your entire career to go and do something completely different — do you remember the old Monty Python’s Flying Circus sketch about the chartered accountant who wants to become a lion tamer? — is a lot like starting out without a degree or six, and that there’s a lot more of that going on these days as whole career paths and industries disappear than you’d perhaps imagined, maybe learning how to make your way from nothing isn’t such a useless option after all.

All paths, on the other hand, come with risks to be managed. That’s where PDD comes in. Even for when you’re not on the beaten track, and you are hearing the sound of a distant but very different drummer, we are able to work with you to help keep the risks in what you’re doing well managed — and with an eye on having a life well worth living out of it all.

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At what point should you consider going it alone?

Making the jump from the career world to the world of earning your own way in the world is a traumatic choice for many.

Far too many (and I count myself amongst this group) first ended up there not by choice, but by circumstance. A “mid-life course correction”, so to speak, brought about by the decisions of others.

But suppose, for a moment, you’ve decided this will be a part of your future. Are there reasons to delay jumping in with both feet?

If you’re just starting out

Coming out of school and going straight into entrepreneurial life can be very rewarding. (Indeed, an increasing number of people I meet at technology industry conferences that are doing startups are still in school even while they’re building out their companies.)

The big thing I see, from years of mentoring and advising entrepreneurs, is that the fewer obligations you have personally the better off starting out will be.

Doing a start up while trying to repay six figures’ worth of student debt, for instance, might be the breaking factor for the success of the venture. Doing it without any, on the other hand, would make it possible for you to reduce your draw on the venture, ploughing time and earnings back into it.

There are transitions in new ventures — that moment when you absolutely have to bring another person in to cope with the work, for instance — where being able to do so without letting your own pocketbook needs get in the way really helps.

If you’re in school, and thinking about an independent life after it, come out with as few outstanding “ties to your past” as you can.

At the same time, you’ve just removed the biggest worry about school from your back: the “will this course selection, will this degree, get me a job?!?” So take what helps you, broadens you, makes you better suited to turn ideas into reality.

If you do need to seek employment a few years from now, you’ll have that venture on your résumé — and that will come ahead of your degrees.

End of working life

For those of us past fifty years old and perhaps facing (or recently put through) one of those lovely “let’s shed cost early retirement programs”, it can be difficult to find a new position. The idea of self-directed working starts to take hold as a good idea — you’re not ready to retire, after all.

Oddly enough, for many of us, this is almost as good a time to chart a new course as coming out of school is. But there are a few things to think about.

First, if you do, you’re probably on that road until you decide to hang it up altogether. It’s a nasty (but true) fact of life that “trying your hand at being an entrepreneur” is less damaging to your résumé at 25 than it is at 55. At 55, what it says is “couldn’t find work” — whether that’s the case, or not.

And, alas, whereas a young person at 29-30 looking for a job can be slotting into an entry-level position without too much worry, an ex-senior manager coming back to corporate life at 59-60 is seen as having lost their “corporate edge” — not because of age, but because the challenge of running your own show has probably raised your independence levels to heights that would challenge too many around you.

So, if you’re taking this path at this age, it’s important to clear the decks, since although you may have more than one venture before you hang it up for good, you will be in venture mode from here on in. If you’re fortunate enough that your children are grown and actually moved out, now’s the time to downsize, free up cash (save it, you don’t have years left to put money away for retirement) and, in essence, make it possible to live on far less cash flow so that your business can grow.

If you are the sole earner in your family — or your spouse is already on the self-employed track — this is even more important. The reason? Lack of corporate benefits, chief amongst them extended health coverage. So the other part of self-employment at the end of a career is that you must take your health into your own hands, and work hard to minimize your costs in this area.

Mid-career entrepreneurial zone

For those somewhere in between these two poles (let’s say 35-45 as a talking point) the mid-career change is the toughest problem of all to crack.

You’re at the height of your financial responsibilities, your family’s still growing, and yet you’re now old enough that, just like your 55-year-old cousin, going off now can easily become a one-way trip to “permanent unemployability”, where working for yourself is your main future to the end of your working days.

Here is the zone, in other words, where managing your personal security so that you don’t find yourself having to make a forced decision is really your first priority. (Obviously, if you’re making a conscious choice and doing so with your eyes open, that’s a different situation.)

What all of these examples show is that thinking of your life as a portfolio of things done rather than a career ladder, or trying to seek security via being the boss rather than working for something large enough to be “safe”, comes at a price.

While there may be “no free lunch”, there are ways to manage risk and move with surety no matter where you are. That’s where PDD can help. Give us a call or write an email and we’ll discuss what a personalized advisory program would look like for you.

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An idea for personal independence needn’t be complicated

We all know the start up stories. Apple, starting in a garage. From diddly-squat to billions almost overnight, thanks to technology.

Maybe you’d like to look at Nimblebit LLC, the creators of the fascinating game Tiny Tower. The game is free. It does not go out of its way to get you to spend anything. The two creators still have earned more than $4 million in the first year from this little gem for iPhones and iPads.

Well, if you think that the only kind of start up that pays off is in technology of some kind (there’s just as many biotech, cleantech, etc. stories out there), then you’re artificially limiting your horizons.

There’s a start up opportunity waiting wherever you can open up a strategic gap.

Let me tell you about my neighbourhood, to illustrate the point.

Like most neighbourhood shopping streets these days, mine is littered with coffee shops. But the ones that make up the neighbourhood are old-style espresso joints from when this area had a wave of Sicilian immigrants. Most are labelled as “social clubs”.

You can get a very decent espresso, cappuccino or latté here for $2-3. That’s right, half the price of the green mermaid (who seems to be everywhere). Admittedly, none of these places are particularly exciting, they don’t do fancy pastries, leather chairs are nowhere to be seen. Older men, smoking by lighting their next cigarette off the last one, gesticulating about football (soccer) while the television shows you European matches: that’s the scene here.

There isn’t a Starbucks in the neighbourhood — period. For the rest of the neighbourhood’s coffee needs are met by the brew companies. Tim Horton’s and McDonald’s capture most of the rest of the business.

Yet, in the past two years, two proper upscale places opened and are doing well: CakeTown, and Red Rocket.

Both sell at Starbuckian prices — a medium vanilla latté at $5.55 (taxes included) and a cheese danish at $2.80 (with tax) — but with the ambiance and vibe of a place where the owner is behind the espresso machine. Both make sandwiches on premises, do their own baking, have their own unique offerings. Both are constantly full. Yet they’re also different from each other (and everyone else): there’s a reason to choose one of these today for this, and the other tomorrow for that.

In other words, both recognized the opportunity by answering with different business strategies. Their success isn’t just “location, location, location” or built on minimum wage rotating staff complements. Both answered the question: “what difference would make us successful”.

Most people use the term strategy when they really mean planning. Planning, in turn, is often not much more than budgeting: and, in many start ups, most of that starts by thinking about expenditures, then a revenue “projection” is put in to justify writing all those cheques in the early going.

Strategy, on the other hands, knows what outcomes are desired, what measures let you know how you’re doing, how to tell if you’re racing ahead too quickly, etc. It is a tool for constant adjustments and course changes.

Remember that both of these are succeeding in the hardest of all spaces to succeed in: food services. Neither is surrounded by lots of working people (my neighbourhood has no industries, very few offices, and most people leave to go to their jobs during the day as opposed to work from home). Despite that — and without a sidewalk filled with strollers (although both cater to children) — both places are packed morning, noon and (in Red Rocket’s case; CakeTown closes) night.

Both of these have made innumerable small adjustments during the time they’ve been open. Their owners are constantly trying new things — “if we add soup, will it sell?” — and are unashamed about staying away from things they either don’t do well, or can’t make a living from. (Red Rocket, for instance, does not do well enough from its tea business to make stocking tea varieties and specialized tea paraphenalia worthwhile, so it eschews that piece of the market. It does, on the other hand, sell enough beer and wine in the evening, and enough coffees with liquor in them, to make having a liquor licence and stocking a few varieties of what’s needed worth the effort.)

These are businesses where the average start up fails within five years. (As Nicholas Nassim Taleb pointed out in his book Anti-Fragile: Things that Gain from Disorder, the total number of seats at eating/drinking places in a neighbourhood remains relatively constant, although the players keep changing.) Yet both are earning their owners (and in Red Rocket’s case, there are four families in ownership, plus another ten or so staff being paid at this one shop) a living, a life, and a return.

The bottom line: sound advice, good mentoring, and working through an apparently “been done before too many times” idea can provide a level of security no job can in this era of endless management buy-outs, downsizings, offshorings, mergers and vicious internal politics.

At PDD, we are equipped to help you explore this route to reducing your personal risk. Call or write to know more.

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Somethings to think about

Anyone who knows me knows that I’ve been one of Honda’s biggest fans—and most loyal customers—for almost 30 years. There are a lot of reasons for that, but I won’t go into them here because this isn’t about Honda as much as it is about what is or might be happening to my prime supplier of four-wheel transportation and why this matters to PDD and its clients.

From time to time, I look at images of Hondas and Acuras, current and in the offing, on the Internet (I’m not in the market. I’m just curious.). This morning, as I mused about what is and what might be, I stumbled across an article by Dave Mable in Car and Driver in May 2012 entitled Why Honda is In Even More Trouble Than You Think [Deep Thoughts].

I’d been wondering whether I was the only Honda owner (actually, it’s an Acura EL) who thought Honda’s styling was, well, blah. So I started reading Mable’s article. In the fifth paragraph, he referenced author Jim Collins who, among other things, contributes to the Harvard Business Review and other business journals. In the article, Mable uses “the five stages of demise in the world of modern business” Collins wrote about in his book How the Mighty Fall to describe what happened to General Motors and what Mable believes is happening to Honda. For the record, the United States Department of the Treasury has begun to sell off the remaining shares of its stake in GM. It bought the shares as part of its bailout of “Government Motors”.

On a related matter, Bloomberg Businessweek (May 6 – May 12, 2013) appeared in my mailbox yesterday. On the cover, in large print, is this question: “What do you call 176,000 lawyers lying at the bottom of the ocean?” The answer, in very large print, is on Page 52.

Why no answer here?

To entice you to do what PDD people do a lot: read things you might not ordinarily read. I didn’t go looking for these two stories as such. They just happened to be there. Or, if you prefer, they came looking for me. If you follow the trail I’ve just left for you, you’ll (a) learn something about Honda that could possibly influence your decision to approach them looking for work or in response to an offer of employment; (b) learn something about GM that could possibly influence your decision to approach them looking for work or in response to an offer of employment; (c) learn about Jim Collins, what he thinks about, and how you can apply that when looking at companies you might be thinking about approaching looking for work. (Hint: read the excerpt from the article he wrote for Businessweek in 2009.)

This is how we begin the process that nets us the deep intelligence we use as the basis for discussions with our clients about how to select and leverage postsecondary education, what to look for in evaluating the risk associated with working in Industry A for Company B instead of Industry C for Company D, and whether or when it might be time for you to be looking for greener pastures. You’ll also find it in how we advise our clients about formulating and executing job search and negotiation strategy.

To find out more, write to Neil Morris at info@personalduediligence.ca or call 905.273.9880.

PS: If you like cars, here’s something Acura’s been thinking about.

FY12_FV_NSX_HERO_01

Acura NSX Concept

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Later life transitions to being your own boss

You’ve had what felt and looked like a good career.

Then, one morning, you’re asked to step into a small room. There’s your superior, someone from human resources, and, if you’re lucky, someone hired in for the separation to help with the transition.

It’s over. Now what?

For most of us, when this particular moment comes, our first thought is “get another job”. But should it always be the first response?

After all, you’ll never be better placed than you are right when you’re let go from corporate life to start your own venture, at least financially, but, surprisingly, emotionally as well.

Yes, it’s traumatic losing the security a business card with a title on it gives you. But going through a search for a year and then starting a venture out of desperation isn’t better.

By then, you’re an emotional wreck.

As every entrepreneur knows — successful or failed — the ups and downs of getting a venture off the ground, running, and dealing with its issues takes its own toll on your psyche and emotional state.

Nothing can swing you higher or lower faster than your own business.

Nothing can swing you higher or lower harder than your own business.

You also have to master hundreds of new skills overnight, become a generalist instantly, take full responsibility for every decision to be made — oh, and have an idea to run with, too.

You have to be able to strategically plan, tactically manoeuvre, and handle operational details all at once. Worse (especially if you’re coming from a senior position) you have to do it all — there’s no one around to delegate to. No HR department to screen résumés when you need to hire. No finance department around to pay the bills, or handle purchasing, or bring the books up to date. No IT group to keep your computer and printer running, or keep you connected to the Internet. There’s no team of salespeople ready to run with your latest marketing piece — you have to start dialling for dollars and going out on cold calls.

It’s not for everyone, certainly. But it’s for far more than are willing to try it, too.

Which sounds better, three years from now, if you’re interviewing? “I had this idea and gave it my best shot”, or “I was downsized/capsized/outsourced out”.

One thing that holds many people back on starting something is that they don’t have a good idea.

People coming from a technological background, for instance, tend to limit their thinking to just ideas in their space. IT people think of applications or hardware they could build, for instance.

Nothing says your idea has to come from your work experience. What you’ll be taking from your corporate past are skills. But your idea could be as simple as “this neighbourhood needs a better coffee shop than the Starbucks on the corner”.

Really good neighbourhood places, in fact, are hard to come by. Sure, coffee shops, fish & chip shops, etc. are a dime a dozen. Still, when the good one comes along, even in a crowded few blocks, it finds its feet and sets itself apart. Your idea, focused on what “better” or “really good” would entail, allows you to compete against all the existing players.

Even if you really do crave just another job, spending some time — whether you’re employed now or not — thinking about ideas, and what’s possible, is good for you.

It sharpens up your mind, by thinking outside of its normal channels. It hones your ability to judge ventures (good if you’re planning to invest in any of them). It gets you thinking about reducing your risk by having more than one iron in the fire.

A PDD advisory relationship can be the key to helping you think about all of these things, and more. Whether you’re comfortably parked in a high corner office, slaving away in cubicle land, one of the many who’ve just been dumped to fend for themselves, or working to make your small business succeed, we’re able to help you deal with risk, personal and family security issues, and be a sounding board for your ideas and ventures.

Talk to us. You’ll be glad you did.

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