Friday, November 1, 2013
Value and Fractional Executives - what is it, how is it unique and are you geared to become the next generation of Fractional Executive?
What is the difference between a Fractional Executive and a Consultant?
I hear the question frequently, and it is an important distinction that has to be discussed internally and with your team. If not clearly understood beforehand, you run the risk of having a severe disconnect between your expectations and the service/results you receive.
After you have decided that your business will benefit from outside expertise, you have to determine how to get that expertise. You can hire a new employee, or you can benefit from the knowledge, skills and abilities of one of the forms of contracted professional help.
First, let’s define each of those variations..
Fractional Executives are valuable business assets. When using Fractional Executive services, you are acquiring the strategic expertise and tactical oversight talents of an individual who is willing to work with you on a part-time basis. This person will have the experience you need to develop your strategy, your people and your processes to help you accomplish your business goals. They will become part of your “inner circle,” and will lead your team in their area of expertise. They will advise you with a clear, external opinion. They will take on responsibility for certain deliverables and will also, make decisions on your behalf. They will not only provide strategy on projects but will deliver the projects not just hand them off.
Consultants are an important part of doing business. They have developed expertise in areas of your business, and they provide you the “horsepower” in areas where you either A) don’t want to be involved; or B) don’t have the depth of knowledge/skill necessary to be involved. A good consultant will advise you and will take on responsibility for clearly defined deliverables. A consultant will not make decisions on your behalf. A consultant will hand off a project for delivery by others on your team. They are usually considered "outsiders" and sometimes even get a bad rap however valuable they are to the organization.
Connecting the dots in your career - are you geared to be a Fractional Executive?
I read a recent article by Steve Blank, lecturer at UCSF, about how he was both hired and fired and then rehired on a single day. While I loved the story, his advice about showing up and that your career dots will connect one day are very tried and true for those who want to branch out as entrepreneurs.
I've been interviewed a few times over the years and the subject always comes up about how I got where I was. Like how does a surfer girl from Orange County end up running a Hispanic family media company? Or how does someone who started out in technology and distribution end up working in Silicon Valley with the Intel Investment Group and the first digital investments of Barry Diller?
When I look back I realized that I was always an entrepreneur and while I enjoyed running a company for 10 years, I love working with companies who need the "cleaner" to come in a fix something, help them hire new groups, work on complex problems with clients, be used as a sounding board for investments, facilitate think tanks and basically learn new things and work with great people.
Being a Fractional Executive is not something new. In fact it's been around a long time and many of us have actually participated without knowing that what we were doing had a label attached to it.
If you are thinking about your next move or in a point of transition, a type A personality, bored with doing one thing and a true multitasker then you may indeed become a great Fractional Executive.
I'd love to hear your stories about how you've connected your dots!
Tuesday, October 29, 2013
Relationships and value....how would you rate yourself?
In a world where we use media of all kinds to describe our most intimate details and give ourselves and hearty pat on the back for posting our latest achievement or "like'ing" or "sharing" a friend or colleagues post, are we really having and nurturing real relationships?
Yes, everyone is busy and yes, everyone uses media to communicate be it email, social media, and the never ending photo posts and pins....but as interesting and sometimes self serving as it feels (or seems at the moment) in acting or reacting so quickly and so robotically it feels like the value is lost.
I have a friend who has been estranged from his daughter and son for many years and while he now has a consistent phone and Skype conversation with his son, his daughter refuses any communication. Now mind you, there was no criminal act done and in fact he became a father at a very, very young age and wasn't always around. Her shutting him down also meant that her two young daughters were also part of the shutdown too.
Rather than use email or sending them updates via social media, my friend chose the old phone and writing simple notes to the grandkids because he truly values his relationships and deems them special enough to take the time to communicate in this fashion.
After several attempts writing the eldest granddaughter and several months of waiting, he received a very simple but beautiful note from a 9 year old telling him about her best friend, that she likes the color yellow, loves dogs and is a big reader too.
Not only was my friend surprised [he didn't expect a response] it truly made his day. He recognized that by his simple and personal attempt how it made a difference. I am glad to say that he is well on his way to building a better bridge to the future generation.
I am not saying that we all need to go back to writing personal notes but then again if we just stopped sending emails for a day or just quickly responding to every little post or tweet or pin could could it change our life or enhance the life of someone else? I think it could.
On rating myself I'd say out of a possible 10 I am a less than 5 right now in terms of personal communication. I love reading folks like Ted Rubin and his great daily posts about communication, return on relationships, personalizing brand relationships and social media - I think I'd like to try brining this to my personal life too. I think I am worth it and know some people in my life that would appreciate a personal note or call a bit more often.
Honestly how would you rate yourself in terms of your value in relationships? What simple things can you do to change how you relate??
Yes, everyone is busy and yes, everyone uses media to communicate be it email, social media, and the never ending photo posts and pins....but as interesting and sometimes self serving as it feels (or seems at the moment) in acting or reacting so quickly and so robotically it feels like the value is lost.
I have a friend who has been estranged from his daughter and son for many years and while he now has a consistent phone and Skype conversation with his son, his daughter refuses any communication. Now mind you, there was no criminal act done and in fact he became a father at a very, very young age and wasn't always around. Her shutting him down also meant that her two young daughters were also part of the shutdown too.
Rather than use email or sending them updates via social media, my friend chose the old phone and writing simple notes to the grandkids because he truly values his relationships and deems them special enough to take the time to communicate in this fashion.
After several attempts writing the eldest granddaughter and several months of waiting, he received a very simple but beautiful note from a 9 year old telling him about her best friend, that she likes the color yellow, loves dogs and is a big reader too.
Not only was my friend surprised [he didn't expect a response] it truly made his day. He recognized that by his simple and personal attempt how it made a difference. I am glad to say that he is well on his way to building a better bridge to the future generation.
I am not saying that we all need to go back to writing personal notes but then again if we just stopped sending emails for a day or just quickly responding to every little post or tweet or pin could could it change our life or enhance the life of someone else? I think it could.
On rating myself I'd say out of a possible 10 I am a less than 5 right now in terms of personal communication. I love reading folks like Ted Rubin and his great daily posts about communication, return on relationships, personalizing brand relationships and social media - I think I'd like to try brining this to my personal life too. I think I am worth it and know some people in my life that would appreciate a personal note or call a bit more often.
Honestly how would you rate yourself in terms of your value in relationships? What simple things can you do to change how you relate??
Wednesday, September 18, 2013
Value in education....how we quantify it seems to be changing....
I read and reposted the article by Steve Tappin, MBA Trap: Campaign To Replace MBAs. In his recent post he talks about how the MBA promises much, but in 95% of cases doesn’t leave you a master of leadership. It’s more of a foundational business degree, and not worth all the hype and prestige. The 5% of cases where the MBA is currently worth doing? Where you have an offer from a Top 10 Business School and are looking for a corporate, consulting or banking career.
He goes on to talk about how to actually overhaul the system, replace the testing and teachers with more real world leaders and ex business men and women who have actual experience rather than academic acumen.
Fundamentally I totally agree with him on all levels. What's more is that I think that there is a value shift and change in how parents are starting to view the value of their children's education and what they want them to achieve - and it's not just an MBA from Harvard.
A school near my home in Chelsea, Avenues: The World School, seems to be promising just that. In their mission statement they promise to GRADUATE STUDENTS who are accomplished in the academic skills one would expect; at ease beyond their borders; truly fluent in a second language; good writers and speakers one and all; confident because they excel in a particular passion; artists no matter their field; practical in the ways of the world; emotionally unafraid and physically fit; humble about their gifts and generous of spirit; trustworthy; aware that their behavior makes a difference in our ecosystem; great leaders when they can be, good followers when they should be; on their way to well-chosen higher education; and, most importantly, architects of lives that transcend the ordinary.
In fact in terms of fluent second language this Fall semester they only have limited openings for their kindergarten classes to take Chinese! Talk about thinking ahead of the curve.
They also commit to PROVIDING THEIR FACULTY and staff members a special place to pursue the science and art of teaching. We want to align the rewards of teaching more closely with the value it brings to society, provide teachers opportunities to deepen their skills and be a place where careers, in and out of the classroom, can flourish.
After reading the Mission Statement frankly I wanted to join up and if I did have children this would be a place that I'd consider, despite the cost which must be very high based on the town cars, drivers and two paparazzi hanging around.
What I found interesting is that both the article by Steve Tappin and the Avenues school talked about value. Value for the money of education and value for the students and society as a whole. I don't think that the kids that graduate from Avenues will pursue an MBA at Harvard but then they may be more effective in global policy, micro finance, health & wellness, the arts & education or green energy - all of which will be as or more valuable than an MBA of any kind.
Value and education - are we changing our tune about what is important and of value?? How do you feel?
He goes on to talk about how to actually overhaul the system, replace the testing and teachers with more real world leaders and ex business men and women who have actual experience rather than academic acumen.
Fundamentally I totally agree with him on all levels. What's more is that I think that there is a value shift and change in how parents are starting to view the value of their children's education and what they want them to achieve - and it's not just an MBA from Harvard.
A school near my home in Chelsea, Avenues: The World School, seems to be promising just that. In their mission statement they promise to GRADUATE STUDENTS who are accomplished in the academic skills one would expect; at ease beyond their borders; truly fluent in a second language; good writers and speakers one and all; confident because they excel in a particular passion; artists no matter their field; practical in the ways of the world; emotionally unafraid and physically fit; humble about their gifts and generous of spirit; trustworthy; aware that their behavior makes a difference in our ecosystem; great leaders when they can be, good followers when they should be; on their way to well-chosen higher education; and, most importantly, architects of lives that transcend the ordinary.
In fact in terms of fluent second language this Fall semester they only have limited openings for their kindergarten classes to take Chinese! Talk about thinking ahead of the curve.
They also commit to PROVIDING THEIR FACULTY and staff members a special place to pursue the science and art of teaching. We want to align the rewards of teaching more closely with the value it brings to society, provide teachers opportunities to deepen their skills and be a place where careers, in and out of the classroom, can flourish.
After reading the Mission Statement frankly I wanted to join up and if I did have children this would be a place that I'd consider, despite the cost which must be very high based on the town cars, drivers and two paparazzi hanging around.
What I found interesting is that both the article by Steve Tappin and the Avenues school talked about value. Value for the money of education and value for the students and society as a whole. I don't think that the kids that graduate from Avenues will pursue an MBA at Harvard but then they may be more effective in global policy, micro finance, health & wellness, the arts & education or green energy - all of which will be as or more valuable than an MBA of any kind.
Value and education - are we changing our tune about what is important and of value?? How do you feel?
Monday, September 9, 2013
How or will you be valued in the future?
A friend of mine, Steven Wolfe, reposted a great link last week about the coming of the Machine Adge that was published in the NY Times. Steven urged everyone to read it and, well, I did. When people I know and value tell me to read something it's because it struck a cord with them and I in turn think it will with me.
The gist of the article is really about people who bring value to businesses in an increasingly technology-centric world. The article states that the winners will be those those who are conscientious and want to learn. Those who use and work with technology. Those who are motivators, coaches and mentors. And those that have a marketing touch.
I liked the part about marketing and the "touch". While it is true that with machines and technology we can do amazing things but capturing the attention of customers with just the right human touch will command an increasing premium especially when we live in such a frenetic and fragmented media world.
Which brings me back to value. All of the above are necessary to move ahead but I think that understanding and capitalizing on your value (whatever that may be) and knowing how to integrate and sell it is also part of a winning strategy.
What employer or client ever said "well no, we really don't want you to bring value when we hire you"? Right: Nobody ever did.
Getting older does have its advantages in finding your value. Learning by trial and error (or by setting yourself on fire a few times) does give you the sense to wear asbestos underwear when required.
Personally I've learned that leading is really hard and exhausting but did find that if I was able to look at all the pieces of a business and then understand how they were integrated, made leading much more fun and I think I was more valuable. Once I understood that this way of "seeing things" made my overall job easier, I was drawn to companies, assignments or and business challenges that needed and could leverage my value. All this from a girl that could't stand puzzles as a kid!
The big question is then how will we all uncover, honestly analyze, grow, change and then really sell through our value in upcoming years? What do you think?
The gist of the article is really about people who bring value to businesses in an increasingly technology-centric world. The article states that the winners will be those those who are conscientious and want to learn. Those who use and work with technology. Those who are motivators, coaches and mentors. And those that have a marketing touch.
I liked the part about marketing and the "touch". While it is true that with machines and technology we can do amazing things but capturing the attention of customers with just the right human touch will command an increasing premium especially when we live in such a frenetic and fragmented media world.
Which brings me back to value. All of the above are necessary to move ahead but I think that understanding and capitalizing on your value (whatever that may be) and knowing how to integrate and sell it is also part of a winning strategy.
What employer or client ever said "well no, we really don't want you to bring value when we hire you"? Right: Nobody ever did.
Getting older does have its advantages in finding your value. Learning by trial and error (or by setting yourself on fire a few times) does give you the sense to wear asbestos underwear when required.
Personally I've learned that leading is really hard and exhausting but did find that if I was able to look at all the pieces of a business and then understand how they were integrated, made leading much more fun and I think I was more valuable. Once I understood that this way of "seeing things" made my overall job easier, I was drawn to companies, assignments or and business challenges that needed and could leverage my value. All this from a girl that could't stand puzzles as a kid!
The big question is then how will we all uncover, honestly analyze, grow, change and then really sell through our value in upcoming years? What do you think?
Thursday, September 5, 2013
Job references and value
A few years back I was stunned by a call that I received from a good friend, Steve Halland, whom I had worked with in the early 90's.
He told me that he had been really surprised that when he was searching for work as a technology executive that many of the people that he had met and worked with for years wouldn't even take his call or avoided him.
He said that that experience changed his perception about not only looking for work but also how his valued network didn't provide much value at all. He vowed that he would never do that to anyone and would always take the time to talk even if he didn't have a direct referral to give.
As we've changed roles over the years and have gone on to do very different things, I have always tried to keep what Steve said in the forefront of my mind when folks have reached out. Just today I got a call from Ana Luisa Wu. I interviewed her about four years ago and really thought she was a very smart and articulate person with a great background in Hispanic marketing/media including an MBA from Cal Berkeley. While we didn't eventually fill the role, I did keep her in my network.
When she reached out today I tried to provide as much value and advice (and contacts) as I could. I also let her know that I was here in case she wanted to talk again and would be open to helping if I could.
I could tell that even that short 1/2 hour meant a lot to her. That she truly appreciated the advise and contacts. It not only made me feel good (and hopefully increased my good karma) but also I provided real value to someone in need.
Let us all not forget the value that we possess and how by just taking a small bit of our time how much it could mean in the life of someone else.
He told me that he had been really surprised that when he was searching for work as a technology executive that many of the people that he had met and worked with for years wouldn't even take his call or avoided him.
He said that that experience changed his perception about not only looking for work but also how his valued network didn't provide much value at all. He vowed that he would never do that to anyone and would always take the time to talk even if he didn't have a direct referral to give.
As we've changed roles over the years and have gone on to do very different things, I have always tried to keep what Steve said in the forefront of my mind when folks have reached out. Just today I got a call from Ana Luisa Wu. I interviewed her about four years ago and really thought she was a very smart and articulate person with a great background in Hispanic marketing/media including an MBA from Cal Berkeley. While we didn't eventually fill the role, I did keep her in my network.
When she reached out today I tried to provide as much value and advice (and contacts) as I could. I also let her know that I was here in case she wanted to talk again and would be open to helping if I could.
I could tell that even that short 1/2 hour meant a lot to her. That she truly appreciated the advise and contacts. It not only made me feel good (and hopefully increased my good karma) but also I provided real value to someone in need.
Let us all not forget the value that we possess and how by just taking a small bit of our time how much it could mean in the life of someone else.
Wednesday, September 4, 2013
Quantifying your Value
In my last post I talked about the word value and how I was starting to incorporate it into my personal life rather than just how I talked to clients.
Value also means what I can provide to others in terms of friendship and support. The balancing act with this came into play for me a few days ago when after nearly six months of supporting and helping out an acquaintance with a start up project, I started to feel used.
I mean, I don't mind providing support and helping out but when he consistently asked for investor and other members of my "black book", it started to wear on me. My head started buzzing with "hey, I normally get paid for this type of work!".
Of course I had casually mentioned when I was first introduced to the start up team that in fact I do get paid for this type of work and that as we moved forward that I was indeed interested in a more formal relationship, % on any money raised and equity and/or advisory role equal to what I brought to the table.
After another round of "who can you introduce us to and don't you know any celebrities that would be good spokespeople....", I put into writing exactly what I needed. I was nice, of course, not only because I liked these guys, but also because I'd been there too - a start up leaning on friends, family and the occasional friend of a friend for support and introductions.
In my email, I simply reiterated our earlier discussion reminding them gently that since I was busy doing other things that if they wanted me to focus more time that I really needed to understand the compensation. Their response was quite clear "we really have team and advisors that we need to reach our current milestones". Well, you can imagine my initial response.
I politely responded and between the lines let them know that I was happy that they had it "all figured out" and that they didn't need me to succeed in business. I think I even ended it with Good Luck.
Having to bring to the attention of two very smart guys the value that I was providing was challenging. While I wanted to be supportive and having been an entrepreneur for over 15 years I truly understood their plight and need, I also had to be fair to myself and my time.
It's not always easy to tell people or even express your "value" in a situation but I think it's necessary. Whether they come back or not with a different response is up to them - the ball is in their court.
If nothing else, I quantified the value of my time to myself and set my own bar on how much I value I will give.
Value also means what I can provide to others in terms of friendship and support. The balancing act with this came into play for me a few days ago when after nearly six months of supporting and helping out an acquaintance with a start up project, I started to feel used.
I mean, I don't mind providing support and helping out but when he consistently asked for investor and other members of my "black book", it started to wear on me. My head started buzzing with "hey, I normally get paid for this type of work!".
Of course I had casually mentioned when I was first introduced to the start up team that in fact I do get paid for this type of work and that as we moved forward that I was indeed interested in a more formal relationship, % on any money raised and equity and/or advisory role equal to what I brought to the table.
After another round of "who can you introduce us to and don't you know any celebrities that would be good spokespeople....", I put into writing exactly what I needed. I was nice, of course, not only because I liked these guys, but also because I'd been there too - a start up leaning on friends, family and the occasional friend of a friend for support and introductions.
In my email, I simply reiterated our earlier discussion reminding them gently that since I was busy doing other things that if they wanted me to focus more time that I really needed to understand the compensation. Their response was quite clear "we really have team and advisors that we need to reach our current milestones". Well, you can imagine my initial response.
I politely responded and between the lines let them know that I was happy that they had it "all figured out" and that they didn't need me to succeed in business. I think I even ended it with Good Luck.
Having to bring to the attention of two very smart guys the value that I was providing was challenging. While I wanted to be supportive and having been an entrepreneur for over 15 years I truly understood their plight and need, I also had to be fair to myself and my time.
It's not always easy to tell people or even express your "value" in a situation but I think it's necessary. Whether they come back or not with a different response is up to them - the ball is in their court.
If nothing else, I quantified the value of my time to myself and set my own bar on how much I value I will give.
What is Value?
What is Value? I started talking using the word “value” a few years back. I’d sprinkle it into conversations with clients and potential clients but never really did understand the meaning nor significance of the word.
After selling our company, Todobebe, last year I found myself at a cross roads of sorts. Did I want to stay in the same industry? Did I want to pursue other interests and if so, how would I make a living?
The word value came back into my vocabulary one afternoon in December while meeting with a potential client (Mediavest) in NYC. I’d flown up for what they believed would be a “job” for me but as I went through meeting after meeting (taking notes and asking more questions) I realized that what they needed was someone to come in and assess the situation and see how best to provide value in turning things around.
After this first meeting, I wrote up my notes along with a mind map of the issues and potential areas where I could provide value. I told them that rather than hire me full time that we should date before we got married and they could test me out to see if I really could provide value to the organization and situation.
My two-month gig, (which required me to relocate to NYC in the dead of winter from Miami no less), turned into six months of wonderful work with a great group of people and a wonderful client, Walmart. I worked hard to provide value and leveraged my skill across operations, media, and marketing and just plain people skills to pitch in and take on whatever project or task was necessary. And, I was grateful for the work and equally grateful that I felt valued by the team I worked with and the executives that hired me.
This past weekend many of you saw my post about the volunteer organization NYCares.org and my Sunday of volunteer work feeding 1400 homeless, low income, mentally ill and otherwise marginalized men and women.
As I’ve continued using the word value, I realized that I needed to reach beyond just my work life and extend the word into my personal life as well. I needed to provide value to people who didn’t know me, couldn’t buy my services but were nonetheless equally grateful for the value of a hot meal, a smile, a touch on their shoulder and yes even some LOL moments.
Providing value to me isn’t just a word anymore and it’s not just how I work or what I strive to bring to my clients – it’s now something that I think consciously about daily and try to ensure that I leverage it to its full potential. And, along the way if I am very lucky I may even reach my full potential too.
After selling our company, Todobebe, last year I found myself at a cross roads of sorts. Did I want to stay in the same industry? Did I want to pursue other interests and if so, how would I make a living?
The word value came back into my vocabulary one afternoon in December while meeting with a potential client (Mediavest) in NYC. I’d flown up for what they believed would be a “job” for me but as I went through meeting after meeting (taking notes and asking more questions) I realized that what they needed was someone to come in and assess the situation and see how best to provide value in turning things around.
After this first meeting, I wrote up my notes along with a mind map of the issues and potential areas where I could provide value. I told them that rather than hire me full time that we should date before we got married and they could test me out to see if I really could provide value to the organization and situation.
My two-month gig, (which required me to relocate to NYC in the dead of winter from Miami no less), turned into six months of wonderful work with a great group of people and a wonderful client, Walmart. I worked hard to provide value and leveraged my skill across operations, media, and marketing and just plain people skills to pitch in and take on whatever project or task was necessary. And, I was grateful for the work and equally grateful that I felt valued by the team I worked with and the executives that hired me.
This past weekend many of you saw my post about the volunteer organization NYCares.org and my Sunday of volunteer work feeding 1400 homeless, low income, mentally ill and otherwise marginalized men and women.
As I’ve continued using the word value, I realized that I needed to reach beyond just my work life and extend the word into my personal life as well. I needed to provide value to people who didn’t know me, couldn’t buy my services but were nonetheless equally grateful for the value of a hot meal, a smile, a touch on their shoulder and yes even some LOL moments.
Providing value to me isn’t just a word anymore and it’s not just how I work or what I strive to bring to my clients – it’s now something that I think consciously about daily and try to ensure that I leverage it to its full potential. And, along the way if I am very lucky I may even reach my full potential too.
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