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My longer form 3 day weekend reading! Pull up a cup of coffee and get ready to have your mind expanded:
• Slaves to the algorithm: Our age elevates the precision-tooled power of the algorithm over flawed human judgment. This may not be such a good thing (aeon: http://www.aeonmagazine.com/world-views/steven-poole-can-algorithms-ever-take-over-from-humans/)
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Style Offline Here at Style Offline I will offer occasional investment advice (this is Forbes, after all!) though I’ll focus on fashion, not funds or finance. In that vein, I’ve upgraded skinny white jeans to a “strong buy”. It’s all about Memorial Day… You are likely looking forward to relaxing over the long weekend and perhaps you have plans with colleagues to get together once or twice. Don’t stress out about what to wear. Whether you are grilling in someone’s suburban backyard, chilling with cocktails on an urban rooftop or going for a sail (lucky you!) on a friend’s yacht, here are three looks that work for every occasion. Each and every one involves breaking out the summer whites. Skinny white jeans are simply a great seasonal investment. A cuffed capri length jean paired with heels or a wedge flatters every body type. I love the shorter length and cigarette cut of these jeans by AG Adriano Goldschmied but you can find similar styling at various price points at the Gap, J.Crew and Nordstrom. Pair your new jeans with a draped top. The silhouette of a flowing top is light and airy and will balance the tight fit of the skinny jeans. Everything under the sun looks good with white. It’s up to you to decide to add color or keep things neutral. You likely already own a top that will work great in this ensemble. Then it’s all about the wedge and accessories. You don’t want to find yourself in heels on a grassy lawn or worse, on a roof deck with lots of slats. It’s time to find the perfect wedge. Wedges are super comfortable and frankly, they make your legs look really long. Love that. A beige espadrille is a great choice for a more casual event while adding a little metallic sheen – see the Lily Pulitzer gold wedge below – adds some glamour. Your white jeans are the perfect foil for a statement cuff or bracelet. Go nautical with stripes, sophisticated with plexiglass or playful with colorful faux gemstones. Find the right bag and you are good to go for a sunny afternoon with colleagues and their families. Even better, you can endlessly recycle your new skinnies by changing out your top and accessories. Yes, you can wear them all weekend long. Like I said, go long on the skinny white jeans.
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See the best dresses at 2013 Billboard Music Awards!
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It's an exciting time for women. New Hampshire is the first state in the nation to send an entirely female congressional delegation to Washington. And by the way, the governor is a woman, too. Marissa Mayer, though controversial, is making her mark on the corporate world and showing that women can hang with the big boys.
More and more women are excelling in leadership positions--in government and non-profits, in start-ups and public corporations, in sports and entertainment.
Even so, the number of male leaders still dwarfs female leaders. My husband recently sent me a survey via Twitter (yes, this is how we sometimes communicate) asking "Why Aren't There More Women CEOs?" The results of the survey:
Institutional barriers (42%)
Family is a bigger priority (26%)
Lack of workplace flexibility (15%)
Less willing to take risks (10%)
Lack of female role models (7%)
My answer is all of the above, plus something else. Something much bigger. To be a leader, whether it's in a company, in politics, in the PTA, or on the soccer field, you need "leadership traits." You need to know how to command a presence, to have good judgment, and to make great decisions fast. You need to show strength and confidence and stand by your convictions. Always. You need to have thick skin, and not be swayed by naysayers or tough competition. Most of all, you need to know how to motivate and inspire people to follow you.
Of course many of these traits are inherent, but most can also be cultivated. For boys, this is a way of life since birth. Boys are taught to tough it out, to wipe away the tears, to be the fastest and strongest kid out there. And though times are certainly changing, girls are often still babied more.
I'm not saying we should treat our girls like boys. I love to coddle my daughters and help them with their pink dresses. But I also strive to encourage leadership traits in them to prepare them to thrive in a world where the ceilings have more and more skylights.
Try these six tips to help foster leadership traits in your daughters:
1. Remind her constantly that she is capable of anything.
When I was two, my grandfather announced that I would be president someday. My dad agreed and started reminding me of it from then on. This was in the 70s when a female president was a ridiculous thought. My parents really did believe that I could do that, and much more. And they told me so regularly. I can't even remember thinking that girls couldn't do anything boys could, because I was never told any differently.
2. Encourage her to play with boys.
As a child I idolized my older brother. I had my girlfriends and dolls to play with but I also loved to play football (yes tackle) with my brother and his friends. By interacting with boys the way they play, I learned many traits that have served me well in the largely male upper echelons of the corporate world. Your daughter may not be into tackle football, but go ahead and set up playdates for her with the boys.
3. Foster her independence.
My daughter has been in Montessori school since 18 months and I am still amazed at the things she learns to do on her own. I wish I could take credit for her decision making and self-directed ways. But even as I celebrate her independence, when I watch her struggle to dress herself or brush her own teeth or cut her own food, sometimes I want to step in and do it for her. Resist the urge! Encouraging independence and confidence now will serve your daughters later when the tasks get much more intense.
4. Encourage her to play sports.
This is an obvious one. Everyone knows how much a child can learn from competing on a team to win... and sometimes losing. But many girls just aren't into sports. If that's your daughter, find an activity that fosters teamwork, collaboration, initiative, and leadership, whether it's Girl Scouts, clubs, or something else. More important, find a way to get your daughter into something--anything--competitive. My 9-year-old book-loving, brainy niece likes dance class OK, but hasn't taken to sports. When the family got a foosball table, she was transformed. Soccer and basketball aren't her thing, but she is damn good on that table. Who knew? She can beat her brother at something physical for once, and the once shy, quiet girl is now beating her chest. She even calls my husband from thousands of miles away taunting him that she is the reigning foosball champion of the household, and the "master of all things glorious."
5. Highlight female role models.
Who are the 7 percent of survey responders who think there are a lack of female role models out there? Come on people, they are everywhere! They are in the New Hampshire government, the stores we visit, and down the street on the volunteer committee. They are in the books we read, the news we watch, and they are even in history. Ever read about Elizabeth I? So highlight them to your girls. And explicitly make the point that there are badass women out there that they can aspire to emulate.
6. Be a role model yourself.
Of course the best way to teach a trait is by example. If you're a mom, then act like a leader. Be strong, be confident, show good judgment, and inspire your children to follow you instead of demanding it. If you're a dad, then show your respect for women. Treat your wife and daughters, and neighbors and friends as equals. Let the decisions come from all of you and make it clear that there are no ceilings in your household, just as in life.
"What's it take to raise strong, confident women who will build the Apples, Facebooks, and Amazons of the future? One marketing exec (and mom) weighs in."
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"Everyone knows education is the path to individual and national prosperity in an era of global competition. Yet US educational attainment, once the envy of the world, has been flagging in recent years—and concerns about the value and efficacy of higher education in particular are making headlines and finding a place on both political parties’ reform agendas. While as recently as 1995 the United States was one of the world leaders in college-graduation rates, the country has since slipped to 12th among industrialized nations.
McKinsey partnered with Chegg Inc. to conduct a survey that gauges the attitudes of more than 4,900 recent graduates on a range of issues. The mix included attendees of four-year and two-year private and public colleges, as well as vocational and for-profit institutions. The survey primarily focused on students who graduated between 2009 and 2012, though some students still working toward their degrees were surveyed as well.
This report will review eight key findings from the research on student attitudes, place these findings in context, and discuss implications. In each case, the report also suggests questions raised by those findings for educators and other stakeholders to consider. The report concludes by sketching the beginnings of an agenda for addressing the concerns that graduates raise." ~ McKinsey on Society
Click on the title above to view the report as a PDF file.
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Cinematography/Editing/Director: J. Michael Lockhart/AmericanDSLR Short scene inspired by Miami Vice (1984) with a touch of Beverly Hills. Filmed and edited on…
"In the Air Tonight"
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In my last post I talked about recognizing small accomplishments, and celebrating your wins, however small. This is one sure way to increase your motivation towards your goals.
How else can we internalize these wins to supercharge our self-esteem and motivation?
According to a Study published in American Psychologist in2000 by Richard Ryan and Edward Deci, there are three factors that help people be intrinsically proactive and engaged:
* Relatedness– The need to belong, and feel connected to others
* Competence– People are more likely to adopt activities that they, and relevant social groups value.
* Autonomy– Crucial for people to internalize their wins, and feel motivated from within – Accepting it and Owning it by finding it valuable; interesting; and in line with goals (vision).
Relatedness
We need to surround ourselves with people who acknowledge our strengths and feelings, share our unique interests/goals, and support us in our pursuits. When we provide these gifts to others it gives them something they can relate to, gives them the opportunity for self-directedness, and in turn increases their intrinsic motivation.
If a Parent, Teacher, Group Facilitator, Employer, etcetera uses threats; deadlines; directives; pressured evaluations; and imposed goals, this will decrease intrinsic motivation and lead to a decreased sense of well-being and empowerment.
Don’t you dare, for one more second, surround yourself with people who are not aware of the greatness that you are. ~Jo Blackwell-Preston
Competence
Activities that include Novelty; Challenge; and Aesthetic Value (likeability) will increase competence.
Questions to ask are:
Why is this important to you?;
What does this mean to you?; and
How do the rules and “shoulds” relate to you? (in terms of values, goals, needs, interests/enjoyment; and other benefits).
When people can relate activities, tasks, and challenges to their core values and needs, interests/enjoyment, and other benefits unique to them, this will increase their motivation to be successful. Basing outcomes on extrinsic rewards just isn’t inherently rewarding, and desire to get things done will be lacking.
In order to do this, you will need to (for yourself or others):
* Have clear, detailed vision and goals (ie: where do you want to be in 5-10 years (or even one year from now?);
* Identify strengths to leverage them: Check out Strength Finder to identify your top strengths;
* Identify your core values/needs, and what you love to do, then relate how rules and “shoulds” relate to these needs/values and things you love to do. You can also use these core values in decision-making on your next steps to success!
Autonomy
What is important here is that people are doing things for their own reasons, and not just because they “should”, or that someone told them to; and that someone is telling them to. This is closely related to competence, so doing the exercises above, or working with a Coach for clarity will be important.
You can also:
* Write three good things that happened in your life/last week, and what you did to cause them to happen;
* What makes you feel good about yourself and builds your self-esteem? Turn these in to affirmations, and a reminder for positive sources of energy and inspiration when you need a boost;
* Dove has a great exercise in their self-esteem workshop guide called The Promise Card. What you do is write: “From today …/…/…. I am going to make a difference to my life and to the lives of others by making this promise: ______________________________________”. Then you write: “Here is how I will keep this promise: _________________________”. Next write: “I will ask __________________ to support me in keeping my promise”. Make sure you tie this promise to your values; needs; interests; goals; and benefits to you, and Voila! You have concrete action steps to get excited and motivated about!
* Do things you want to do, despite any fears that are related to your vision, values, and goals. Also do new things that expand your interests and sense of accomplishments.
* Again, what are you going to do to give yourself credit for your “wins” along the way? Celebrate!!…and not just the “small” accomplishments.
Peace and Love on your journey!
Self esteem is something that we all wrestle with from time to time. I believe self-esteem comes from knowing who you are and feeling good about it. The most challenging aspect of self-esteem is feeling "good" about who we are. Not just being able to talk about our challenges but really feeling comfortable and good living our truth.
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Awesome deck! Def my new fave blogger: Barry Ritholtz | @ritholtz
Director of Cognitive Dissonance, NYC · ritholtz.com/blog
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The term is overused, but I believe corporate culture is important. In particular, understanding how your culture works can help you decide who is a good fit for your company.
When I coach people on hiring, I always start with culture, which I define as what you value, what is important for you and your company. Culture always starts with the owner. In companies where culture is well-defined, it is reflected in every hiring decision. But it can be complicated. I see problems when companies do not pay attention to the traits that make people successful in their companies. Do you want people to work independently, or do you think teamwork and collaboration are more important? Is working lots of hours essential? If you don’t know the answer to these questions, you may have problems.
I recently had a conversation on this topic with Tom Gimbel of the LaSalle Network, which is in the temporary staffing business. The company serves 2,500 companies in the Chicago area and produces more than $30 million in annual sales. Since 2008, LaSalle has been growing at about 20 percent per year. Mr. Gimbel credits much of this growth to a strong culture. When asked what that meant, he talked about creating a humane place to work that is attractive to people in their mid-20s. He told me that his belief system was what was important in the company, and he spent lots of time thinking about how to share that system with those who work with him.
At first, his focus on culture sounded a little loose to me. I asked him what his biggest problem was. He told me that his new employees would often mistake a humane culture for one where it’s all fun and games — as if hard work and results were not important. At a company with significant growth, hard work is always part of the deal. But Mr. Gimbel believes that high growth and being humane can be compatible. His challenge has been how to communicate those separate needs.
Mr. Gimbel’s goals are to reach $100 million in revenue and to go public. To accomplish this, he will have to reinvent his company several times. Running a $35 million private company is very different from running a $100 million public company. It will be easier to hit these targets if the company’s employees share the same basic beliefs about what is important — and that is the mission of his human resources department. Mr. Gimbel calls his H.R. department a human concierge department. Unlike most employers, he expects his H.R. people to help employees not just with the usual stuff but with life problems as well.
Doing this, he said, has earned his company committed employees. He believes that being a good place to work has a real business benefit. His recruitment costs are small, because he has little problem finding people who want to work at his company. Instead of recruiting, his H.R. people spend their time making sure that those who join the company are a good fit.
To attract people who share your belief system, it’s important to have a system. Learn to ask good questions. Learn to ask follow-up questions that allow potential employees to talk. I recommend that you make a list of traits that everyone in your company must possess. In Mr. Gimbel’s case, he might look for employees who are self-starters, who work in a collaborative manner, who have high people skills and are personally responsible.
There is an art in searching for fit. During the interview process, it’s important to give potential employees the opportunity to tell you how they live the traits you’re looking for. You don’t want to ask a direct question like, “Tell me how you’re personally responsible in your life.” Instead, you might ask candidates to talk about a problem they have solved. Precisely how they solved the problem isn’t as important as their attitude about the problem. As they talk, listen carefully. If you can’t figure out whether the person is responsible, ask what prevented the problem from being solved or what solved it. The answers should allow you to hear the candidate either taking responsibility or blaming others. Sometimes it’s subtle, but subtle differences can determine fit.
Potential candidates should have several interviews with different people at different levels in your company. To do this well, though, you have to train your current employees how to do an interview that focuses on listening.
And in the end, no matter what technical skills your candidates possess, you cannot let them join your company if they do not fit in. Technical skills can be taught. I don’t think belief systems can.
Culture always starts with the owner. In companies where culture is well defined, it is reflected in every hiring decision. But it can be complicated.
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In Tulsa, Oklahoma. ~ V.B.
What is with me and severe weather this year? I don't know but it is good to be safe from tornados and blizzards. Be safe. Happy Monday!
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Hallelujah originally by Leonard Cohen "Now I've heard there was a secret chord That David played, and it pleased the Lord But you don't really care for musi...
On a Leonard Cohen kick! I love this version. ~ V.B.
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NEW YORK (TheStreet) -- As the one-year anniversary of Facebook's (FB_) blockbuster initial public offering looms, lead underwriter Morgan Stanley (MS_) has yet to prove the botched offering has not hurt it's leading position in tech sector equity underwriting.
Twitter's unannounced but much anticipated initial public offering will prove whether or not Facebook's scandal-ridden offering, the third largest in U.S. history, has made a dent in the Morgan Stanley's ability to win the biggest deals coming out of Silicon Valley.
Morgan Stanley priced Facebook's May 18, 2012 IPO at $38 a share, in a deal that raised $16 billion for the social network and valued the company at over $100 billion.
Facebook has not traded above $38 a share since the IPO, and shares in the company remain about 30% below their listing price. Facebook opened Wednesday trading at $27.07, an increase of over 50% from share price lows below $18 in early September.
Shares in Morgan Stanley, by contrast, have gained over 70% to $24.70 since May 18.
Had Facebook's offering been priced correctly and with a manageable size for investors to handle, "Twitter would have come out by now," says Scott Sweet, a senior managing director at IPO Boutique.
"It would be wise for Twitter or another fledgling social network to choose another lead left book runner to lead their offering," Sweet says when discusing Morgan Stanley's management of the Facebook offering. "They made serious mistakes," he adds, while noting firms should still include Morgan Stanley on offerings because of their tech wherewithal.
Morgan Stanley, a powerhouse in tech sector IPO's after leading offerings for Google (GOOG_), Salesforce.com (CRM_) and LinkedIn (LNKD_), pulled a gigantic coup in winning Facebook's IPO.
The question is whether disappointed investors, lawsuits and regulatory settlements prove the Facebook deal to be a pyrrhic victory.
Morgan Stanley remains a force in tech sector equity underwriting. It won the lead mandate to underwrite Workday's (WDAY_) $732.55 million offering, the largest tech listing since Facebook.
According to Dealogic data, Morgan Stanley ended 2012 with the top market share in running global IPOs, bolstered by Facebook's offering. Overall, the firm earned nearly $1 billion in revenue from running equity underwriting, the data shows.
Still, signs of cracks may be showing.
Morgan Stanley won't be leading CDW's $500 million offering expected in 2013. The investment bank is also splitting lead work with Goldman Sachs (GS_) on Tableau Software's upcoming listing. It also isn't a lead underwriter of Marketo's IPO.
Both firms specialize in software services and the enterprise software market, a specialty of Morgan Stanley's. "Morgan owned that space last year," says Sweet.
In the first quarter of 2013, Morgan Stanley placed far behind competitors Goldman Sachs and a nascent Barclays (BCS_) in running U.S. based IPOs amid a sharp rise in listings of real estate investment trusts, healthcare businesses and carve outs from conglomerates as big as Pfizer (PFE_).
I can't believe it's been almost a year since the Facebook IPO and my work with Morgan Stanley. I flew to Manhattan New York, Miami Florida, San Diego California, Honolulu Hawaii, Seattle, Coeur d'Alene Idaho, Pennsylvania, and Anchorage Alaska for this awesome global investment bank client. It was a grand experience!
Here's what 2012 looked like for me in pics: https://www.facebook.com/media/set/?set=a.10151858736290078.883065.644515077&type=1&l=54c2b515e4
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“I LOVE ice cream.” “No, you don’t,” Mrs. McGowen, my 5th grade English teacher insisted. “You LIKE ice cream. You LOVE people.”
Okay, if she insisted. I’d tone down the tenor for my essays, but I was determined to remain the expert on my feelings. So how do you know when someone else presents their true self to you?
Test 1: Passion
Passion gets out the vote. In any political campaign, you hear cries from the public, telling the handlers, “Let Mitt be Mitt.” “Leave Palin alone.” Let Clinton write his own speech.” They tend to use exuberant language: “I love this.” “I hate that.” “I’d give a million dollars if I could…” “I’d never on your life date a woman who ….” “You wouldn’t in a million years catch me making an investment in something like ….” Whatever the situation or topic, authentic leaders feel it strongly and their language reflects it. They tackle life with all they have—heart, mind, soul.
Here’s Steve Jobs on his passion: “I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life. [...] Sometimes life hits you in the head with a brick. Don’t lose faith. I’m convinced that the only thing that kept me going was that I loved what I did.” (Walter Isaacson’s biography of Steve Jobs)
Test 2: Comfort With Who They Are
Second, real leaders feel comfortable with who they are. They acknowledge their past, their upbringing—the good and the not-so-good—their values, their core beliefs. They talk about their vulnerabilities, their ambitions, their goals, their hard work. Consider Oprah’s rise to prominence as she has shared her painful past. Consider George Bush’s admission and reflections on his wasted years of heavy drinking. Bill Clinton often talks about his upbringing in poverty–by a divorced mom who could barely get by from paycheck to paycheck. In essence, they present a true image of themselves. What you see is what you get—truly.
Test 3: Willingness to Admit Mistakes
Third, real leaders feel comfortable in saying, “I’ve failed.” It’s not that they enjoy the feeling of defeat. But they’ve analyzed it, learned from it, and are quite willing to prevent others from the same fate. The pioneering spirit in them translates everything into a learning opportunity. Abraham Lincoln chalked up quite a record of defeats before he reached the White House and became one of the greatest leaders America has ever known.
Jack Welch puts it this way: “I’ve learned that mistakes can often be as good a teacher as success.”
Warren Buffett’s legendary annual letters to his Berkshire Hathaway shareholders tell the tales of his biggest investing mistakes. In 2008, he bought a large stake in the stock of Conoco Phillips as a play on future energy prices—but he bought in a price far too high, resulting in a multibillion dollar loss to Berkshire. Buffett admitted he was “dead wrong.” He goes on to say, “When investing, pessimism is your friend, euphoria the enemy.”
In another bad investment back in l989, Buffett bought preferred stock in U.S. Air because he was attracted by its high revenue growth achieved up to that point. But the investment quickly went bad when U.S. Air failed to achieve enough revenues to pay the dividends due on this stock. Buffet pointed out in his 2007 letter to Berkshire shareholders that sometimes businesses look good in terms of revenue growth but require large capital investments all along the way to ensure their growth. He was frank about the mistake: “Investors have poured money into a bottomless pit, attracted by growth, when they should have been repelled by it.”
Authentic, confident leaders feel deeply about their mistakes—admit them, and learn from them.
How do you score? How do leaders in your organization measure up?.
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How do you make a statement this spring? By taking a cue from Kerry, Blake, and more stars and trying out the most daring fashion trends the season has to offer. From bright leather to mixed prints, we'll show you how to take your wardrobe to the next level.
Spring is here, finally and InStyle is an amazing source for inspiration! Click on the image or title above to view the original post and slide show pics.
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Life is a quite dear reflection. Self development is an ongoing project. Get to work! ♥ ~ V.B.
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