Paul Copcutt - Just My Toonies Worth

What's your next job in the tech sector?

In some areas of products and services the technology sector is booming, in others it is going.....going....gone - FAST.

I have attended a couple of local events recently that highlighted a very innovative and growing tech hub in the Hamilton area - there is a new smartphone app from Snap Pay for example that enables anyone to take credit card payments in seconds . One presentation from Pipeline Studios (a highly successful cartoon house) informed us of one of the best kept secrets, that Canada is the largest producer of digital content for TV in the world!

This is all great news. Unfortunately this past week we have also seen the bad news associated with tech companies that were not able to keep up, were too big (or too slow) or just missed the opportunity and catch up was the worst game to play. This past week we saw thousands expected to be let go at RIM and HP announcing 27,000 lay offs.

Three things that you can learn from this for your career, regardless of the industry.

1. Never settle for what you have. You cannot afford to stay where you are in terms of skills and strengths. You have to be continually looking to add to your portfolio of experience and knowledge. What is in demand today is tomorrows forgotten role.
2. Remain flexible and open to new ways of doing things. The next best thing (or person) is just around the corner. They have figured out how to do things faster, smarter etc. They may not always be right, but when they are be ready to make a switch in the way you do things to stay ahead.
3. Cut bait and run. Sometimes you have tried everything you know and more and it is just evident you have either missed the boat or run out of steam. Know when its time to quit. Not from just a quitting point but so that your energy and resources can be directed to another area that makes more sense and is a better use of your time.

Now go make today a brand YOU day.

The Risks of Climbing to the Top

When you set out to go mountain climbing, as in business, there are a number of factors that increase your chances of success, but if not can cause a fall. 

• Knowledge - past experience, having all the right equipment packed, planning your route, practicing the more difficult traverses ahead of time. 
• Teamwork - having the right team with you, knowing everyones strengths (and weaknesses), understanding you do not have all the answers. 
• Realism - not living in the clouds thinking whatever happens that it's all going to be great. Having dreams yes, but ensuring your feet are set firmly in reality so that you make clear headed decisions. 

This past weekend's deaths of four climbers on Mount Everest, highlight the continual human drive to achieve the ultimate pinnacle. People with the drive to fulfil lifelong dreams and goals, willing to pay the ultimate price. Without knowing all the details and what they faced you do wonder if they stuck to those three principles. 

Recently we have seen some examples of this where senior business leaders have not and it has proved or may prove to be their undoing. 

Scott Thomson, the former CEO of Yahoo, fired for lying on his resume. He appeared to be a highly qualified leader. His knowledge seemed to be a good fit for the difficult task of turning Yahoo around. But when your experience is brought in to question peoples confidence fast disappears and they start to question other decisions you make. 

Irvin Goldman is the Chief Investment Officer at JP Morgan who had been fired for 'gamble' losses by another firm a few years ago and JP Morgan were aware of this. Now the firm faces at least $2 billion (or much more) in losses due to risky trades by one of Goldman's London trading team. 

Gene Morphis was the CFO of publicly quoted fashion company Francesca Holdings. His role as the main financial voice for the company meant he had access to the most sensitive of information. His regular complaints about his work and bosses expectations through tweets on Twitter and updates on Facebook were at best unwise. His perceived lack of reality cost him his job.

Each of these individuals leadership has certainly been questionable and damaging to their company's and themselves.

There is a deeper indication of poor leadership from their own leaders too though. The board at Yahoo knew of this resume error earlier, Jamie Dimon CEO at JP Morgan bank was an outspoken critic of government attempts to reign in bank trading and Francesca Holdings knew of these social media outbursts long ago but set no formal company policy. 

You must be aware of how your personal brand leadership is being perceived. It's not a case of do what I say but don't do what I do. Leadership has a big responsibility attached to it, and when you compromise that in any way the results can affect many more people than just you. 

There was a good article in the Washington Post on this Learn to Manage Your Personal Leadership Image

When In Doubt Deny....Then Lie

Well it was only a matter of time before we saw it again.

People seem to easily forget that celebrities and CEO's are human too. That means a small percentage will also do things that surprise the rest of us.

This time it was Scott Thompson, now former CEO of Yahoo, the beleagured internet company, uncovered as having lied on his resume.

His claim was to have a double degree, when an unhappy investor discovered that one of those degrees was not even offered by Thompson's school until after he had graduated!

Three things that Thompson did that accelerated his downfall;

1. He first of all pleaded ignorance.
2. Then he lied
3. Finally he did not apologise

It now has been reported that Thompson may be suffering from thyroid cancer, my empathy to him if that is the case. But his actions have now damaged a leadership brand that previously had been held up as a technology success and likely a strong factor in his being hired for the Yahoo position.

Hopefully you will never be in this situation or something similar, but if you are three simple rules to follow;

1. Admit all that you know about the situation. Come clean. People will react badly for sure, but not nearly as much or for as long if you drag things out.
2. Do not lie. This is worse than trying to hide the truth and could damage your personal brand for the long term.
3. Apologise unreservedly for any errors or mis-judgements that are yours. Take full responsibility and accountability. This is likely your only hope for keeping your job, but be prepared for the inevitable that you might have to resign.

Thompson may not be concerned about working again, although reports say there is no severance package. But most of us are likely going to have to and want to work again. So if you do have to, do it on your terms, do not leave it to others to fire you. Falling on your sword when it is entirely your doing really is the only honorable thing to do

Want to see who else in senior levels of responsibility (including the current vice President of the United States) have been in a similar position? CLICK HERE

Do you think Thompson handled this the right way? Would you do things differently? 

 

What is your personal brand U.S.P. ?

I had the pleasure of attending a recent women’s entrepreneur lunch at the McMaster Innovation Park in Hamilton. It included a Dragon’s Den or Shark Tank style pitch by 4 local women run businesses in competition for some services and prizes to help them with their development and growth.

The panel was made up of local service and successful entrepreneurs, but they were certainly much nicer than many of the ‘sharks’ or ‘dragons’!

None of the businesses, as far as I can determine, were the only ones of their type, they all have competition. What was very noticeable and great to see from them was some indications of their brand uniqueness.

Lunch-bags.ca. A local custom catered lunch company, with fully compostable packaging, run by one much taller owner than the other – they even made humourous comments on this. The humour theme continues as their delivered food includes over detailed opening instructions on the boxes and a list of the music they listened to while making your food!

Sounds Sports Imaging. A start-up company offering training and implementation for sports medical clinicians on a revolutionary portable ultrasound machine. The owner was very knowledgeable and passionate about the difference this was going to make.

Cake & Loaf. A made from scratch bakery with all products made fresh daily using as many local suppliers as they can find. Also a high eco-emphasis with minimal waste and local bike delivery.

Eco Lux Pet Apparel. Offering luxury pet clothing styled on latest human fashion trends and made from used human clothing, wherever possible made from natural materials etc. The owner had a very outgoing personality and used her singing skills to present part of her pitch tunefully!

All four eventually ended up receiving prizes and they all seemed set for continued launch or growth. This in part was due to varying degrees of 3 things that all small business and entrepreneurs need to consider – their U.S.P. ;

Uniqueness. 99.9% of the time you are not going to be the only one in the market, there will be competitors similar or the same to you. You have to find what your unique approach, perspective or offering is going to be and then ensure you are communicating that all the time to make it memorable.

Savvy. Have a great idea, product or service is just not enough. You have to do your research, find out what your customers other options are. Also know your numbers. One business had excellent stats and demographics - they knew the depth of their opportunity.

Passion. There are going to be bumps in the road. You have to truly believe that what you have is a winner. If you do not believe it how can you expect anyone else to? One of the businesses was rejected for funding by banks because they thought their numbers were unrealistic – they have actually tripled them! This was because they had done their homework. Blind passion can be dangerous but if you add in the Uniqueness and Savvy then Passion can make you a real winner.

How clear are you about your U.S.P?

If you are not as clear as you think you could be perhaps a complimentary strategy session might help - check out my availability.

What is holding you back from your personal brand?

Through my wife's business I have had the opportunity to be connected to Keith Kochner at Mentorfish.com for the last few months and have found his teaching exactly what we need in the 21st century. Lots of great content, he is prolific with new insights and learnings - even for someone like me who tends to explore and read a lot! 

Keith is coming to Toronto next week to hold a live evening event so you can get a full experience of what he has to offer. Cost is just covering running costs of the event, but I know you will get way more value - hope to see you there.