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The Giving Challenge

July 1, 2013

The Giving Challenge

What would you do with $4.5 billion? Most people would start with a list of how they’d invest it and what they’d purchase. But John and Laura Arnold have decided to give it away. John began his career as a successful natural gas trader at Enron. He left before it went bankrupt, and founded a hedge fund. He’s known as an introvert, very smart and low key, but diligent in his research of every detail around his oil investments. His ability to correctly anticipate gas and commodities prices paid off handsomely so that in October 2012, a few years shy of age 40, he closed his fund and retired.

He and Laura, a Yale grad and former corporate attorney, then focused their energy on the John and Laura Arnold Foundation, with the vision of giving money where it can produce the most good. For example, they’re funding projects that could make a difference in criminal justice sentencing guidelines, or how our bodies process food which could impact how obesity is treated.

The Arnold’s know that some of their projects will fail, but they’re betting on the upside risk that some will be a big success and will positively impact society. Their style of “high impact philanthropy” is increasing among the super wealthy. Rather than simply writing a check to the many existing worthy causes, they’re looking for opportunities to fund social initiatives, eradicate societal ills and solve vexing problems. They want their money to have a long term effect.

They also don’t believe in “dynastic wealth”, or giving the money to their three children, because they feel it’s important for them to learn to create wealth for themselves. They’ve seen too many examples of children who’ve made poor decisions with such an inheritance, and don’t want theirs to feel entitled. John and Laura also think it’s a mistake to believe that having more money makes children happier or more productive. They share the perspective of other billionaires like Warren Buffett that there’s no value in gifting large sums of money to their kids.

While most of us can’t directly relate to building this level of wealth, much less giving it away, their story raises some questions that we can relate to.

Are you making money for what you can do with it, or for how you can help others? Even while the Arnolds were massing their fortune, they were talking to others about causes that they could fund. So as you’re making money are you thinking and talking about who you can help, or just what can you buy? Are you looking for opportunities to help others? Are you looking for meaningful causes that can benefit from your support?

Do you believe your giving can make a difference in the lives of others? Maybe you don’t have “high impact” funds, but low impact is better than no impact. If you’re able to help only one person and make a difference in their life, then it’s a worthwhile effort. You can pay it forward.

Are you giving a gift that keeps on giving? Yes, there are times when many people need a “fish”, but at the same time they need someone to “teach them to fish”. So will your gift help better a life or a situation long term?

Are you taking a risk with your giving? Philanthropists know that the organizations they give to won’t always be successful in their mission. There are risks involved, and the greater and more game changing the potential impact, the greater the potential risk. But sometimes those are the causes that need benefactors the most.

Do you investigate the credibility and effectiveness of the organizations that receive your money? In spite of the risks associated with various social initiatives, you should still scrutinize the organizations that receive your hard earned funds with the same degree of detail that you would scrutinize a potential investment decision. You do have a responsibility to ensure that you properly evaluate their track record of accomplishing their goals, and reaching the target market.

Is your giving reactive or proactive? Requests for donations come from many sources. There are appeals for support from robocalls during the dinner hour, panhandlers on the street, co-workers’ fundraising initiatives, church building drives, political campaigns, financially strapped friends, and educational institutions. Many of these entreaties are for worthy causes, but every worthy cause isn’t the right cause for you. You are chief steward of your resources, and it’s important to proactively determine your giving priorities, and the circumstances under which you’ll respond to such requests instead of letting someone else determine them for you. This will provide the framework for you to appropriately respond when the time comes.

So if you don’t have $4.5 billion, let’s start a little smaller. What would you do with $450, or $4,500 or $45,000? What are your giving priorities? What organizations would you allocate it to? How would you use it to make an impact in the world around you? Spend some time pondering this, and as you do so, you’ll begin to find more meaning in your giving. You can make a difference at whatever level you are…..just give.

Source articles from WSJ.com and ChristianPost.com

The Spark that Ignited a Firestorm

May 27, 2013

Priscilla Archangel

Courage, Leadership, Purpose

The Spark That Ignited a Firestorm

Caine was a nine year old boy trying to keep himself busy during summer vacation. He spent his days with his father who owned a used auto parts store. The store had a lot of empty boxes in the back room, so Caine had an idea. He began creating arcade games out of the empty boxes and setting them up in the front of the store. Not just one game, but many games, intricate games. There was just one problem. Because most of his father’s customers purchased via the internet, there wasn’t much walk-in traffic, and no one was interested in playing his games. Until one day, Nirvan Mullick walked into the store looking for a part for his car. He was Caine’s first customer, and he thought Caine was really bright. So Nirvan had an idea to bring a lot of customers to Caine’s arcade. He created a flashmob event that brought hundreds of people to that small store. And Nirvan’s small gesture was a spark that ignited a firestorm and changed Caine’s young life, and along with the lives of many other children and adults.

Caine’s Arcade

It turned into a Global Cardboard Challenge with over 270 Events in 41 countries, celebrating creativity and community around the world, while raising funds for various causes. Watch the videos to find out what happened and how a seemingly chance meeting sparked a firestorm.

www.cainesarcade.com

Then think about these leadership lessons from a nine year old boy. In fact, are you a better leader than a nine year old?

You’re never too young to develop and use your gift.
Follow your passion. Find your magic moment, your spark. That’s where your leadership will shine.
The best gifts serve others. How are you serving others with your gift?
Success in leadership doesn’t happen solely based on your own actions. You must walk with others in your leadership journey.
Don’t sell yourself short. Even when it doesn’t look like much, things can change quickly.
If you build it will they really come? Maybe not, but maybe so. But even if they don’t, there’s a lesson in the process alone.
Never discourage creativity, even when it doesn’t look like reality. Instead provide encouragement in constructive ways.
Always be ready for your big break. You never know what opportunity is right around the corner.
One simple idea may be more powerful than you could ever imagine.

A Relationship of Trust

April 28, 2013

Priscilla Archangel

Character, Leadership

A Relationship of Trust

How do you determine who to trust? How much trust can you place in those around you, and how much can you trust them with?

A recent story chronicling the “re-education” of Mark Zuckerberg in the April 29^th edition of Fortune provides a good example. With the fast paced growth of social media, apps and smart phones, Facebook needed an effective wireless strategy. This was the next big shift in technology, and if they missed it, the young company’s phenomenal successes could be short lived. Zuck, as he is commonly called by those in the business, turned to Mike Schroepfer his Chief Technology Officer, and Cory Ondrejka who was in charge of mobile engineering. Cory had co-founded Linden Lab which created the virtual world Second Life, and later started a tech company that Facebook recently purchased. It was Cory who proposed not only restarting their current mobile efforts again from scratch, which would take precious time, but doing so in the midst of the much publicized IPO when investor scrutiny on their technology problems would be especially intense.

After much discussion Zuck approved that approach, even though as he said, it was against his instincts. According to the article, his decision paid off as Facebook launched a new iPhone app in August 2012that has received top ratings in the App Store. While it may be too early to determine the long term success of that decision, there’s great learning in the “process” of making it.

So why would Zuck decide to trust the recommendation of these two men, even when it ran contrary to his normal approach and instincts? Because he trusted them. At that moment he made a conscious decision to place greater faith in their experience, analysis and resulting recommendation, than in his own. If they were wrong, he had more to lose than anyone else. The potential impact to his reputation and respect, his company, and his wealth could suffer a significant and possibly irretrievable blow. But he knew that the current strategy wasn’t working, and he had to try something different, so he bought into it and exercised trust.

Active Trust

This type of trust in others is earned. Its an active verb, and it’s a choice. It comes as a result of several foundational elements.

Confidence – belief in their abilities and their motives, that they’re reliable and dependable.

Capability – they have expertise, past proven successes, and experience in a specific critical area.

Consistency – exhibiting the same behavior and communicating the same values repeatedly such that it’s easy to predict their responses.

Collaboration – willingness to work with others, exchange ideas and leverage the strengths of others in coming up with solutions to problems.

Confidentiality – using good judgment in communications with others, and ensuring that information is shared only as necessary with appropriate persons.

Now think of situations where you’ve placed a great deal of trust in someone else.

· You trust your physician with your health.

· You trust your business partner with your work.

· You trust your financial planner with your investments.

· You trust your spouse with your heart.

· You trust your friends with your happiness.

· You trust your work team with your ideas and strategies.

· You trust your boss with your career.

And yet you retain a measure of control over these “trusting” relationships, balancing the right amount of confidence, capability, consistency, collaboration and confidentiality that you place in them, with what they provide in return. It’s a reciprocal relationship, reinforced or weakened by every action or counter-action. You can “remove” the trust at any time, almost immediately, whether for cause or for instinct.

Rock Climbing Trust

So how do you grow to trust someone? And how much are you willing to trust them? For any productivity to occur we must trust others, because we’re incapable of finding fulfillment, achieving our goals, or attaining significance in life without having trusting relationships. And at the same time, we must display these same characteristics so that others will place their trust in us. But your ability to trust others is based in part on your ability to trust yourself. It is based on your ability to demonstrate the 5Cs in the same manner that you want others to demonstrate it. So because Zuck is able to experience and exhibit confidence, capability, consistency, collaboration and confidentiality, he recognizes it and shares it with others.

I recognize that I’ll never be able to trust someone else in a certain area, unless I overcome my personal fears in that area. For instance, I have no desire togo skydiving. As someone eloquently said, why would I jump out of a perfectly good airplane? My fear of having only a parachute on me at ten thousand feet above ground has nothing to do with my trust in the instructor or the pilot. It has everything to do with ME. And unless I deal with that fear, I’ll never learn to trust them. Similarly, while I might step on a narrow boulder a few feet off the ground, I cannot imagine ever (did I say ever) rock climbing and stepping up on a boulder thousands of feet off the ground (see the picture). I’m afraid of that height and don’t trust my ability to master such a feat. Before I perform either act, I’d first have to learn to trust myself and gain more confidence, capability and collaboration before I could trust others to help me do it. The same is true in marriage relationships and business relationships.

So instead of examining others to determine if they’re worthy of our trust, we must first decide if we’re worthy of theirs. Do we display confidence, capability, consistency, collaboration and confidentiality? Do we behave in a manner that would make others want to trust us? Do we use those trusting behaviors to support others in their goals in a manner that creates a reciprocal relationship? I encourage you to practice these characteristics to build your relationships of trust.

Read the Fortune article by Jesse Hemphill here.

You Dreamer!

March 29, 2013

Priscilla Archangel

Capability, Leadership

You Dreamer!

Disruptors, innovators and entrepreneurs; that’s how Forbes Magazine describes their 30 Under 30. These are the 30 brightest stars under the age of 30 in 15 different fields such as media, music, energy, education, sports, marketing and advertising, finance, and science. I call them dreamers. As leaders in their respective fields of expertise; many of them accomplished feats that most people haven’t even dreamed of attempting. Their inventions, innovations, creative thinking, physical abilities, and thoughtful approaches have had a major impact on society and culture. Several that most impressed me were:

Joshua Sommer – Seven years ago as a freshman in college he was diagnosed with a rare form of cancer. Instead of accepting the low possibility of survival and lack of treatment options, he cofounded the Chordoma Foundation dedicated to raising money to fund research to cure it.
Hugh Evans – Founded the Global Poverty Project committed to ending extreme poverty, and developed an innovative means of raising $1.3 billion in new funding commitments.
Leslie Dewan – Is developing a new kind of nuclear reactor with a plan to power the entire U.S. with zero carbon emissions and eliminating mountains of nuclear waste.
Matt Mullenweg – Launched WordPress open source blogging software at the young age of 19. It’s now used by 17% of all websites.

Qualifications

But how did they accomplish so much at such a young age? As I read their stories, several qualities were obvious.

Dreaming – Every great accomplishment starts with a dream, and a great dream combined with great desire leads to destiny. The dreamer believes in the possibility of what appears to be impossible; believing that as they move toward their destiny, the pathway will emerge. A great dream may look fragile to the outside world, but is intense in the mind of the dream holder.
Selective hearing – They ignore the naysayers, those who would try to tell them that whatever they’re attempting isn’t possible; that no one has ever done it that way before. They don’t buy into the status quo and accepted ways of doing things. They chart their own path.
Sacrifice – Being the best at what you do only comes with hard work and lots of it. That won’t seem “fun” to others, but there is nothing else these dreamers would rather do than to work to pursue their dream. In fact, what others perceive as sacrifice, brings pleasure to the dreamer.
Failure – This is simply the process of eliminating options that don’t work. Thomas Edison reportedly failed 1,000 times before he succeeded in making the light bulb. But Edison says that he discovered 1,000 ways NOT to make a light bulb. (http://answers.yahoo.com/question/index?qid=20090218050711AAw6KhA) So learn from every mistake. Failure with a purpose equals progress. John Maxwell’s book on Failing Forward says that the only difference between people who achieve and those who are simply average is how they handle failure.
Perseverance – Giving up is not an option. Setbacks can be turned into setups. Difficulties, roadblocks and financial worries are simply tests of your commitment. They build commitment just like lifting weights builds strength.

Your Dream

I believe that everyone has a dream of accomplishing something that is bigger than them, but few people follow through on it. For some people, that dream is vivid and tangible; they can almost reach out and touch it. They think about it daily, devise plans to work toward accomplishing it. Others are still discovering their dream. And still others have almost abandoned theirs. Maybe it once existed in the recesses of their mind, but was beaten still further back by constant affirmations of impossibility.

Children are often great dreamers because they haven’t yet learned all the reasons that adults have bought into about why their dream shouldn’t come to pass. They have:

No boundaries to confine them.

No past to live up to or sustain.

No thing to lose and everything to gain.

No fear of failure.

So what is your dream? You may have to reflect back on your early years to remember what it was, and what happened to it. Can you recapture the passion you once had for it? Can you regain the excitement you once felt as you replayed it in your mind? Can you take one step to redirect your path toward accomplishing that dream? Let go of the things that restrict your ability to dream. Instead, dream big and make something happen.

What’s in Your Hand?

February 28, 2013

Priscilla Archangel

Leadership, Purpose

What’s In Your Hand?

Moses was an elderly man, used to working alone with his animals. He spent much of his time in the desert with the hot sun beating down on his head. One day passed like the next. He thought that this was how his life would end. His life didn’t seem to have a compelling purpose. Was he content, or had he just given up?

Then God spoke to him. God was concerned with the same issue that concerned Moses. God wanted to deliver His people from their Egyptian oppressors, and He wanted Moses to be a part of that plan. God wanted to use a nobody like him, to be a somebody to others. Moses couldn’t even imagine doing any of the things that God mentioned. The only skill he had used for the past 40 years was leading a flock of animals here and there, making sure they were safe and had food and water, learning the terrain of the desert, and using his rod to guide them and keep them together. Surely God was mistaken. He wasn’t capable of doing such a great thing. He was just a common shepherd.

(more…)

Exposed

January 29, 2013

Priscilla Archangel

Character, Leadership

Exposed

“Secrets suck,” said Tyler Hamilton, former cyclist and team member of Lance Armstrong on the U.S. Postal Service Team. Hamilton was interviewed by the Wall Street Journal’s Jason Gay the day after Oprah Winfrey aired Armstrong’s recent admission that he took banned substances to enhance his cycling performance. He doped, and he lied about it. Armstrong said that he wouldn’t have won seven Tour de France medals without having done so. Over the years, others accused him of doping, and he not only vehemently denied it, he also bullied his accusers. Meanwhile he made tens of millions of dollars from endorsements, and started the successful Livestrong Foundation to support people with cancer and to further cancer research.

Hamilton himself exposed his own secrets regarding their drug use in his new book “The Secret Race,” with co-author Daniel Coyle. When he began talking with Coyle, his words came out very slowly, like water trickling from a faucet. The process of exposing his dishonesty to the world was slow and difficult. Hamilton saw the same difficulty in Armstrong’s public confession with Winfrey. Hamilton’s point was that the process of admitting and confessing a very public and long held deception is a slow progression, best mastered one step at a time.

Lies

Come Clean

Hamilton and Armstrong aren’t the first to go through such a process. Other high profile leaders have been forcibly exposed or “come clean” and admitted the truth after years of pretense and cover-up. But such behavior is not limited to public figures. People at every socioeconomic level are vulnerable to it. The desire to conceal past wrongs; present a more positive image of oneself; to be smarter, better, stronger and more successful than others becomes compelling and sometimes addictive.

Bernie Madoff was revered for the returns received by investors in his funds until the truth about his Ponzi scheme, thought to be the largest financial fraud in U.S. history at roughly $65 billion, was uncovered. He pleaded guilty to all the charges and is now serving a 150 year prison term.
Russell Wasendorf, Sr, founder of PGFBest attempted suicide after federal regulators discovered that hundreds of millions of dollars were missing and from and non-existent in his company’s financial accounts.
Trevor Cook deceived more than 700 investors in a Ponzi scheme worth hundreds of millions of dollars. He’s now serving a 25 year jail sentence.
President Richard Nixon lied about his actions related to the Watergate scandal and ended up resigning.
President Bill Clinton lied about his relationship with Monica Lewinsky and was subsequently impeached by the House of Representatives.
Tiger Woods’ multiple marital infidelities were exposed leading to the loss of his marriage and several sponsors, and seemed to negatively impact the quality of his golf game.
James Frey’s autobiography, “A Million Pieces” was Oprah’s book club pick until it was discovered that key portions of his story were fictitious. He returned to Oprah’s show to tearfully admit that substance abuse was the cause of his lies.

While the act of lying is no worse whether you’re famous or unknown, whether it’s “big” one or a “little white lie” (what is that anyway?), the difference is in the impact on the people who look up to you for leadership, those who believe in you. Those are the people who are hurt.

Lies

Just like your mother told you when you were a child, if you tell one lie, you have to tell another to cover it up, and still another, until it’s difficult to remember who you lied to and which lie you told.

The purpose here is not to castigate Armstrong, Hamilton or anyone else who may be guilty of this. All of us on some level may have perpetrated a lie at some point in our lives; and hopefully, thankfully we repented and were forgiven. Rather the purpose is to understand that lying or any behavior that presents an image of someone we’re not, of a capability that we don’t really possess, of a behavior that is not truthful, is a secret that eventually will reveal itself.

When we lie to others, we’re keeping a secret that is a contradiction from the truth. We have to continue to repress the truth and “justify” the lie….that it’s for the good of others, that it’s not anyone else’s business, that it’s not hurting anyone, that others can’t handle the truth. The reality is that we ourselves can’t handle the truth; that we’re running from reality; that we don’t want to fall off the pedestal that we’ve been placed on. But coming off that pedestal has to happen for us to face our humanness, our flaws, sometimes our demons, and begin the road to recovery. Few secrets can be kept forever. Someone knows, someone tells, someone makes a mistake in the cover-up ritual. It can be painful, and unfortunately, some have preferred suicide rather than facing the truth. But the truth eventually brings peace and healing as we reconcile the facts of who we know we are, with who others know us to be.

As leaders our responsibility is far greater to be authentic, admit and learn from our mistakes, and encourage others to do the same. Whether leading a team at work, or leading your family, whether a public pronouncement or a private commitment, like Tyler Hamilton said, “secrets suck”. They can cause internal stress and anxiety that knows no relief until the truth comes out. So focus on truthfulness because that’s where you’ll find peace.

Read the article in the Wall Street Journal here.

Other sources A and B

Game Changer

December 31, 2012

Priscilla Archangel

Capability, Leadership

Game Changer

A simple act…

An interesting project…

A problem to be solved…

A wish to be granted…

Something you did that started small. You followed your interests and desires, taking one step that turned in to two, four, twelve, fifty or one hundred steps. You didn’t realize the significance of that first act, nor that it was rooted in a deeper desire or passion. All of your steps prior to this time prepared you for this moment, even when the path was circuitous, hilly, and filled with signs that said “Stop”, “Yield”, or “Caution”. Yet it brought you to the point of influencing the lives of many others; changing the way people approach a problem, learn or behave; or freeing them to accomplish their goals. Like a rock tossed into the ocean can ripple into a wave on the other side of the ocean, your simple act flourished and thrived into a movement, a game changer. You changed the rules of operation, and disrupted the normal system with a positive impact.

The Khan Academy

Salman Khan is an example of this. Khan is the founder of The Khan Academy, a company with over 3,600 brief free instructional videos on topics including math, science, computer science, finance and economics, humanities and standardized test prep, designed to help students of all ages learn about these topics at their own pace. According to a recent article in Forbes, over the past two years Khan’s videos have had 200 million views. There are currently 6 million unique students per month who visit the site, and over 750 million problems have been solved over the past several years. As a non-profit organization, they’re supported by foundations and individuals such as The Bill and Melinda Gates Foundation, venture capitalist John and Ann Doerr, the O’Sullivan Foundation, Reed Hastings, Google, and the Windsong Trust. Khan has pledged that the company will not go public despite the urgings of several venture capitalists who see the potential for significant profit.

It all started out when Khan began posting YouTube videos to facilitate tutoring sessions with his cousins. Even though his video viewing audience grew to tens of thousands each day, he still looked at this as a hobby. He grew up poor in Louisiana raised by his mother and was mathematically gifted. He gained acceptance to MIT, completed an M.B.A. from Harvard and became a hedge fund analyst. During this time he supported his wife through her medical training while caring for his baby son. He quit his job when he realized the impact his videos had on helping students learn. Khan continued working on videos in a bedroom closet for ten months until Ann Doerr wrote him his first check for $100,000. The rest, as they say, is history.

Now with a $7 million budget, and a staff of 37 people headquartered in Silicon Valley, Khan is changing the education game. His ability to reach millions of students cheaply via the internet using inexpensive tablets (particularly important in developing nations), on a wide range of subjects is generating a growth spurt in online education. Khan Academy has proof of the efficacy of their teaching videos, and the global reach to provide high quality education for a small fraction of usual costs. Other universities and faculty members have similar results as courses at Harvard and Stanford offered online drew well over 100 thousand students each and provided a quality of learning equal to what they would have received in the classroom. According to the Forbes article, Khan has a vision for radically changing the education system of the future, and is referred to as “the most impactful educator in the world”. All this, even though he’s not a traditional educator by training.

What’s Your Game?

It doesn’t appear that Khan planned this business or career, but it grew out of his passion for teaching concepts in an easy to understand format. He recognized a problem around him, cared about how others were dealing with it, and decided to do something on a small scale without even thinking of the potential for growth. His passion was so great, and his impact so effective that he is playing a significant role in changing developing a new approach to education. He recognized the changes in how people communicate, learn, interact and apply that learning, leveraging the increasing electronic capabilities of the millennial generation. So Khan seized the moment and made the most of it. He took a leap of faith and leveraged his leadership abilities to help others learn more productively. He’s changing the game.

How are you changing the game around you? It typically begins with a paradigm shift, moving from acceptance that something in your environment must continue as it is, to challenging it to be different. This may be seen as disruptive to others, and such disruption normally causes a level of discomfort in those who are used to the status quo or have a vested interest in things remaining as-is. Disruption can be unconstructive, chaotic and threatening. But when you find a constructive approach to addressing a worthy cause, and with enough momentum and support, you can metaphorically move the car out of the rut and onto new higher ground.

So what are you passionate about, concerned about, interested in, desiring to be different? And what are you constructively doing about it? Do you have a vision for the future? Are you helping someone else accomplish their vision? Do you have faith in your ability to make a difference in the lives of others? Then you too can be a game changer.

Reference: One Man, One Computer, 10 Million Students: How Khan Academy Is Reinventing Education by Michael Noer. Forbes Magazine, November 2, 2012.

Business Values Add Value

December 1, 2012

Priscilla Archangel

Leadership, Priorities

Business Values Add Value

A recent interview with Jack Dorsey, the billionaire founder of two well-known tech companies, Twitter and Square, in the November 5, 2012 issue of Forbes, provided insight into one of the keys to his success as an entrepreneur. Twitter has 500 million members communicating across the globe. Square has changed the way 2 million businesses handle financial transactions, and Starbucks is expected to exclusively use that technology in their U.S. stores in the near future. At Square’s San Francisco headquarters, employees work at rows of desks in open spaces, or at tall tables; and conference rooms are glass enclosed. Dorsey spends 90% of his time with people who don’t report to him, and does a lot of his work at these tall tables in an open space so that he’s easily approachable. He also requires that at any meeting where more than two people are present, one of the attendees must take notes and send them to all the employees. This open style of communication and interaction is important to Dorsey because he believes in serendipity; that his team learns just by spending more time around each other. This has become a core business value for his companies, and drives how they operate.

Core Values

Bruce Gibney and Ken Howery identify core values as one of Four Things to Get Right When Starting A Company in the May 9, 2012 issue of the Harvard Business Review. In particular, they state that when teams develop, they must quickly decide how they want to do business, because culture seems to become entrenched after about 24 employees are hired. Coherent and clearly communicated business values improve the quality, efficiency and consistency of decisions throughout the organization. Founders, leaders and employees are able to use them as a basis for ensuring alignment and proper direction when considering different courses of action.

For new and developing businesses, values are best developed up front along with the business concept and processes. They should be the guiding force, not the lagging afterthought that explains how they do business. Not only is this important for the individual entrepreneur who may be the sole employee (solopreneurs), but as the business grows, that entrepreneur must be able to clearly identify and communicate core business values when interviewing prospective employees, and establishing business processes and organizational norms. They are communicated to others through marketing and branding strategies, policy decisions, workplace norms and customer interactions.

The process of identifying and developing core business values requires thoughtful discussion among the founding leaders of a growing business at each step of the process. Solopreneurs might have these discussions with a business coach or consultant. The point is to think through all aspects of the business process and how the business promise will be fulfilled and aligned with the business values. They are typically very personal based on the priorities and preferences of the individual leaders.

Such discussions may be ongoing as the business evolves and grows. Throughout the process of adding more employees, customers and stakeholders, these values are communicated through behaviors and decisions. Just as leaders are at the core of establishing business values, employees are at the core of fulfilling the promise of the business values. Thus it’s important to engage them in understanding how their behavior contributes to and support values.

Start the Discussion

Consider the following questions.

How will my product provide value to my customers?
What are my quality standards and how will I ensure that they are reinforced?
What criteria will I use when deciding who to collaborate with or to do business with?
How do I want to serve my customers? How do I want them to remember me?
How and what should my employees communicate with one another, and how do we establish our work processes and environment to support that?
What are our financial resources and options?
What are my leadership styles and attributes, and how will I make sure that my employees are motivated and engaged?

Gibney and Howery cite Facebook’s “focus on impact” as an example of explicit business values or principles guiding a company in a more successful direction. Facebook’s 5 core principles are Focus on Impact, Move Fast, Be Bold, Be Open, Build Social Value. Theirs is almost more of a social mission than a business focused on revenue.

Whether you lead a business, non-profit organization, work team, volunteer organization, or your family, take the time to think through your core values. Define and discuss them with your stakeholders, and ensure alignment in all your decisions. As you collaborate with others, ensure that they share similar values. Clearly defined, shared values are a critical part of your personal and professional success.

Read the Forbes article at http://www.forbes.com/sites/ericsavitz/2012/10/17/jack-dorsey-the-leadership-secrets-of-twitter-and-square/

Read the HBR article at http://blogs.hbr.org/cs/2012/05/four_things_to_get_right_when.html

Get It to Give It

November 1, 2012

Priscilla Archangel

Character

Get It To Give It

The vast majority of people are working to get more money. With the state of the economy, the amount of debt at a national and individual level, mortgage/rent payments, car loans, school tuition, medical bills, food, credit card debt, and the desire to “keep up with the Joneses”, it all contributes to a need to get more money. Ask someone what they would do if they were given a million dollars and they would generally give you a long list of bills to pay off, goals to save for, or things to buy for themselves or their family members. Whether your net worth is a negative number (with lots of digits) or a positive number (with lots of digits), almost everyone is working to get more money.

<1%

So that’s the 99% of us. What would the 1% do? Or maybe it’s the .0001%?

The October 8, 2012 issue of Forbes profiled the 400 richest people in America, worth anywhere from $1.1 billion (a three way tie between Dan Snyder, Paul Singer, and Denise York) to $66 billion (Bill Gates). I was admittedly fascinated with the diverse sources of their wealth, along with their personal stories, because the focus of many of the articles was their philanthropy. Rather than just watch their wealth increase, they were using their money to make a positive impact on society and the world.

For example, the Bill and Melinda Gates Foundation was established in 2000 as a continuation of Bill’s philanthropic efforts started in 1994, and their goal is to spend all their money in the foundation within 25 years of their demise. Warren Buffett gave approximately $31 billion to their foundation in 2006 with the stipulation that it be spent within 10 years of his death. And hopefully you’ve heard of the Giving Pledge started by Warren Buffett and the Gateses. Since June 2010, over 90 billionaires have signed the Pledge to give away half of their fortune to the charities of their choice by the time of their death. But Chuck Feeney is a role model. Feeney used to be on the Forbes 400 (although it was later found to be an error), because though he has earned $7.5 billion over his lifetime, he’s given so much away that he only has about $2 million left.

Secret Giver

Feeney, now 81, made his fortune by founding the Duty Free Shoppers almost three decades ago. But rather than just amass his fortune, he secretly transferred his ownership stake into the Atlantic Philanthropies. While Forbes Magazine thought he was a billionaire, he instead had given his assets to his charity. Feeney has given to charitable causes on five continents, often anonymously. Charities have to compete for the money and present a plan of action with objectives to be met. If they fail to meet those objectives, their funding is in jeopardy. He frequently requires that his giving be matched by other wealthy people, local governments, or charities. He focuses on getting the highest value for his donations, and hates waste of all types. Feeney did much of this in secret, seeking anonymity and shunning the spotlight. Only in recent years has he allowed a biography to be written, and permitted others to understand what he’s trying to accomplish. His philosophy is “Don’t wait to give your money away when you’re old, or even worse, dead. Instead, make substantial donations while you still have the energy, connections and influence to make waves.” Click here to read the article.)

Feeney and a number of other billionaires profiled in the magazine feel that giving is a duty and an obligation. David Rubenstein (private equity billionaire) summed it up with the following.

“How much can you give to your children before you completely spoil and ruin them? Very few people who inherit gigantic sums have gone on to change the world for the better. Generally the people who’ve changed the world for the better are people who made it on their own and ultimately didn’t want to just distribute wealth to somebody else. If you can give away as much money as you can while you’re alive, you’ll realize the benefits that I just mentioned. You’ll feel much better about yourself—and your children will feel much better about you.”(Click here to read the article.)

Your Turn to Give

So right now, though you may be in awe of Feeney and others, you (like me) probably can’t relate to them because you haven’t yet made your first billion dollars. Well maybe there’s something else you have to give to others…something you have a knack for attracting or acquiring in abundance that has little value when hoarded for yourself; something that causes others to look upon you with respect and amazement; something that was earned through hard work and focusing on your passion. This “thing” will be different for everyone, but generally encompasses your time, talents or treasures. These are the most valuable of your assets, often intangible but observable in the results they produce.

The question is whether you gather it merely for your own value so that others can note your accumulation of it; or whether you gather it to benefit others. You see, we all can be billionaires in some way, just by having an abundance of something valuable that others would desire to have. Just as the billionaires in this edition of Forbes have developed their various passions to accumulate wealth, so those of us in a lesser financial situation can pursue our passions for the benefit of others. We can “get it to give it”.

So no need to wait until to accumulate your first billion. Start now to make a difference in the lives of those around you.

Solve a Problem

September 30, 2012

Priscilla Archangel

Capability

Solve A Problem

Kevin Plank recognized a problem. As a football player at the University of Maryland, he became increasingly focused on the fact that after they played, the cotton t-shirts worn by the players under their pads were constantly soaked with perspiration. Kevin felt that the weight of the shirts negatively impacted their performance on the field. Already an entrepreneurial hustler on campus, Kevin decided to find a way to develop a shirt that would draw moisture away from the body. He started with a synthetic fabric made from women’s undergarments, and a friend joined him in marketing their product to sports teams and retailers. His brashness, creativity and pure hustle paid off, and they were eventually able to sign well known endorsers. Today, his company, Under Armour has a full line of athletic clothes, undergarments and shoes for men and women. They went from their first big sale in 1996 to becoming a publicly traded company in 2005, and their 2012 second quarter apparel net revenues increased 23% to $253 million compared with $205 million in the same period of the prior year. (Click here to read the full story by Monte Burke in the September issue of ForbesLife.)

Plank’s solution to a problem became his key to success. Problems are all around us every day. The question is whether we recognize situations around us as “problems”, and what do we do about it. This requires attention to our surroundings and issues, and a willingness to own a role in developing a solution.

A Peanut and a Sweet Potato

George Washington Carver is a perfect example of this. According to Os Hillman in his book Change Agent: Engaging Your Passion To Be The One Who Makes A Difference,(p. 104) Carver lived in an era of pervasive racial discrimination when he encouraged southern farmers to plant peanuts and sweet potatoes because their land was depleted due to planting too many cotton crops. They initially criticized him for this suggestion, believing that the market wouldn’t support it, but nonetheless began to do so. Carver, a Christian from an early age, would get up in the morning and go out to the fields where he sought the wisdom of God on what to do with these crops. God obviously answered his prayer because he subsequently created three hundred products from the peanut, and one hundred from the sweet potato. This revitalized the economy in the south, and made him a friend and confidante to presidents and business leaders. Why? Because they recognized that he was a problem solver. He had the ability to recognize problems where others overlooked them. Then he was willing to own the problem and take on the challenge of addressing it. Finally he had the vision and creativity to develop and implement a solution.

Your Personal Problem

Unfortunately too many of us look past the problems surrounding us with the attitude that we have no ability to impact or address them. We feel powerless and incapable of coming up with a solution, and look to someone else to handle it. But there’s nothing special about Kevin Plank or George Washington Carver. They simply opened their minds to future possibilities, and didn’t let their circumstances limit them. Both had a vision to see a problem situation and identify a potential resolution for it. They didn’t blame others around them for these problems; they stepped up and took responsibility for the solutions. Individuals who demonstrate this skillset are valuable members of any team

Each of us has a problem or set of problems assigned to us from God that we are uniquely equipped to solve. God is exposing the problem to us, and drawing us to Him so that He can reveal the solution. Based on our instincts, interests and initiative we can be a change agent in our environment. Joseph demonstrated this capability in ancient Egypt when he interpreted the King’s dream of the coming seven years of plenty, followed by seven years of famine. Then he provided a proposal on how to prepare for the famine. He was instantly appointed second in command in the kingdom. The Bill and Melinda Gates Foundation have used their billions in assets to address global issues of hunger, poverty, education and health care. Every problem solver won’t reach the same number of people, but every problem needs to be addressed.

So what problems has God assigned to you? Be diligent in discovering them because solving them is your pathway to your purpose and your road to success.

The Giving Challenge

The Spark That Ignited a Firestorm

A Relationship of Trust

You Dreamer!

What’s In Your Hand?

Exposed

Game Changer

Business Values Add Value

Get It To Give It

Solve A Problem

Leadership Tips