Wednesday, October 20, 2010

CEOs must be Messge-Ready, Visible and Transparent

IBM's Midmarket CEO Study "...found that many leaders anticipate greater complexities in the future and many feel uncertain of their ability to manage it."  The study continued with this major point about today's CEO requirements:
"Successful companies have found that they must integrate customers into their core processes, adopt new channels to keep customers engaged, and make customer intimacy their top priority.

"The economic climate is drastically different than it was even a few short years ago. Understanding where to seize opportunities can make all the difference between success and failure. "
Implications for executive's today:

1.  Understand we are into new realities with respect to business strategies.  No longer can companies focus on short-term wealth creation at the expense of long-term wealth creation.
2.  The key to success today is closeness with customers with open two-way communications that is intimate, transparent, and connected.
3.  Executives who want to become CEOs must know how to get visibility in these channels, understanding how to connect with customers by being transparent, and be message-ready. 

Everything else is just fluff.

Monday, September 27, 2010

The Worst is Behind Us, Not Ahead!

Chart of the Week

















Gallup.com, in its online article Recession or Not, U.S. Job Market Woes Persist, published on September 22, stated that the Great Recession may be over but the job market doesn't reflect "Happy Days Are Hear Again."

Although the unemployment rate is down almost 1.5% since its highs in February 2010, it still is too high on any measure.

BUT... the good news is:

1) the worst is behind us, not ahead.  That means, if you've been looking for that next opportunity, time is on your side.
2) executives hiring, although not robust, is happening.  Many of my clients are finding oppportunties and landing.
3) unemployment is the difference between created jobs and discontinued jobs.  That means there are jobs opening up all the time. 
4) summer is always changable in its hiring/layoffs.  Don't look at the past -- it does no good -- but know that unemployment is a lagging indicator with respect to job hiring.

Monday, September 20, 2010

CEO Employment Index Rises Slightly



Chief Executive Employment Index (6 month r=.84 lagged)

 
















The CEO Employment Index and the CEO Confience Index reflect a slow but steady rise since it's bottom in Q2 one year ago. 

Q2 of 2010 shows an uptick, however modest, and with the survey one chief executive stated what I believe is happening under the radar.  He says, "For those that do have strong balance sheets and access to capital and liquidity, the environment is ripe with opportunity for acquisition, organic growth and capturing market share.“


This tracks other data points from the Private Equity industry as well as Challenger, Grey and Christmas in the report from CNBC quoted earlier in this blog.

What does this mean?

There is fog, there is reality, and it is up to you to know the difference.

Helpful hits:
  • Don't listen to the media.  They have a vested interest in reporting that which will sell more advertising space.
  • Know your industry and its challenges.  Each industry is going to have a bumpy recovery, but knowing the specifics and what you can do to create value is invaluable.
  • Get out there and discover the truth.  Do your own personal research and know that those who really do make a difference will find opportunities. 
  • Don't wait for things to turn around.  The absolute worst thing you can do is quit until things "get better."  Quitters never win and winners never quit!
Thoughts? Comments?

Wednesday, September 8, 2010

Job Outlook for Executives Is 'Strong' as Firms Seek Growth


The "new, new, new normal" is here to stay.
Boards of Directors want to hire C-Suite Executives who know how to take existing business into new markets. Especially those companies who are sitting on a lot of cash and seeing that new opportunities means getting into position to leverage growth in the next 18 months.

“For a lot of marketing executives and professionals who got stuck in this recession, now opportunities are starting to open up again,” John Challenger said,, the source of the CNBC article and CEO of employment-research firm Challenger, Gray & Christmas.

Bottom line for executives:
  1. Position yourself as a key executive who knows how to grow a business, not just hunker down hoping things will change.
  2. Target small and medium sized companies who have taken the hit with retiring Baby Boomers and need top level leaders.
  3. Learn how to use social networking to connect to quality contacts and tap into the hidden executive job market.
  4. Do more than your competition when it comes to getting on a hiring executive's radar screen. 
Want to talk about it?  Call me for your free, no obligation Strategy Session.  I'd love to hear from you!









Wednesday, August 25, 2010

Why A Slow Economy May Be Good for Your Executive Career

I am not an economist.

But I do remember the 1990s (the first half, anyway) where growth was slow, about 2 to 3 percent per year. This was before the Internet took off and before we all got connected online. If we rip out a page from that time frame, we can see overall benefits to slow, steady growth.
  1. Opportunities are real and based on true growth.
  2. Productivity is based on actual revenues booked.
  3. Investment is given to companies that have proven their success.
  4. Customer demand is based on value, not hype.
  5. Jobs are created when productivity meets capacity.
  6. Prices are based on real demand and are competitive.
  7. Growth is manageable and predictive. 
What is different today than 20 years ago is how people are to be employed, with lower barriers to enter the world-wide labor pools, and social networking creating interactive work flows rather than static work structures.

Therefore, executives must be willing to move away from the idea of a j-o-b and think in terms of how they can be engaged in the flow of fluid work, ignoring the method in which payment is received (wages versus income).

  
But here lies the rub.

Many of us who are in the executive ranks are so stuck in “…working for an organization…” when that very ideal organization is being re-engineered as we speak. It is being uprooted from within. Beyond the media reporting and government metrics is a whole underworld of opportunities. These opportunities are similar to the current in a river where, at the surface, it looks calm and placid, yet underneath is a ranging torrent of water that creates the real movement of the river itself.

The real economy today is the torrent of opportunities that run under the surface of traditional industrial-age job creation, including the metrics that give us an idea of what’s going on. In my opinion, these metrics are so out-of-date no wonder consumer confidence is at an all time low!


So…what’s the answer?

  
It lies in understanding how to be engaged in the flow of fluid work. Here are a few insights that I’ve gained:
  • Work is being reorganized around essential tasks, not roles
  • Tasks are viewed in terms of impact and return on investment, not functional expertise
  • Labor is being hired based upon contractual outcomes, not job descriptions
  • Hiring is based upon co-creation, not individualized responsibilities
  • Money is flowing to value creation entities, not high-priced candidates

This fundamental restructuring of work and what work is valuable is moving away from what an individual can do and is looking for network pools of labor flows that can assist an organization to meet customer demand, keep overhead costs constant, and receive increased value for each essential task performed.

What does this mean for the “traditional executive”?

Let me know what you think and I’ll share your thoughts

Wednesday, August 18, 2010

Industrial Manufacturing M&A's Take Off, Rebounding Sector

Mergers & Acquisitions Daily, a daily eZine from the Association of Corporate Growth, stated in it's August 13, 2010 publication that:
"Industrial manufacturing saw M&A's take off thus far this year, according to a PricewaterhouseCoopers report tracking dealmaking in recent years....Hiring seems to be moving toward a rebound for the sector." (written by Jonathan Marino)
This is something that I've been seeing for the last 18 months.  Particularly in the Atlantic South of the U.S.

What have you found?

Five Ways To Get In On the Deals in B2B Industry

Pitch Book News reports that
"Since the beginning of the year, PE investors have exited 129 companies through a sale to a corporation, according to the PitchBook Platform. The median deal size for corporate acquisition exits in 2010 YTD is $223.5 million with eight deals crossing the billion dollar mark, including Elevation Partner's sale of Palm to Hewlett-Packard (NYSEQ: HP) for $1.2 billion. Corporations appear to be most interested in B2B Products and Services this year, buying 34 PE-backed companies in the industry. Other industries attracting much interest are B2C Products and Services with 29 companies and Information Technology with 19."
Implications:  Companies are buying up healthy organizations from Private Equity Firms and that means opportunities for executives to lead these new SBUs.  How?
  1. Keep in touch with the money flow in your town/industry.
  2. Ask different questions of your network instead of the tired, old "who is hiring" question.
  3. Think first.  What is the most likely next step for a target company?  Will they be able to buy a company from a PE firm?
  4. Get connected to PE brokers.  Ask what B2B companies are on the market. Track these companies
  5. Stay connected to PE firms.  They need to re-invest. Find out what they are doing.

Monday, August 16, 2010

Executive Opportunities: Is "Green" a Fad or Fact?

According to McKinsey Quarterly,

Many governments have been actively trying to promote growth, competitiveness, and employment. But policy makers who hope that advanced “clean” technologies can create work on a large scale will probably be disappointed, because these sectors are just too small to make an economy-wide difference. The local-business and household-services sectors are a much better bet: from 1995 to 2005, services generated all net job growth in high-income economies. Low-tech “green” activities, such as improving the insulation of buildings and replacing obsolete heating and cooling equipment, could generate more jobs than renewable technologies can.
The chart is shared and was published in August 2009.













  • Is "green" a fad or fact? 
  • What have you found? Are there more opportunities in "clean" technologies where you live?

Tuesday, August 10, 2010

Go East, Not West, Young Man!

The Robert Walters Asia Job Index is a real eye opener.

Horace Greeley
The percent change in job advertisements for professional positions placed from Q1 to Q2 is 31.52% in Hong Kong, 13.7%% in Sinapore, 34.27% in Japan, and 36.68 % in China (with 10 million job openings) for a total of 11M jobs add in April through June of this year.

Amazing!

The famous quote by Horace Greeley, "Go West, Young Man!" has to be turned 180 degrees to find new employement opportunties.

But I think that in the United States or developed regions like Europe, opportunties abound.  They are just different than how we traditionally see employment.  As McKinsey reported in their ten trends (see previous post on July 27, 2010, Organization of Networks - Part I), employment as we know it has changed for the executive/professional. 

Options include outsourcing, close sourcing, interim executive roles, networked pools, and other "nonemployee" roles can be found through digging for opportunities, rather than trying to find the traditional 7am to 7pm job.

What are you seeing in your world?  Have opportunties taken a different form?  Let's share.

Friday, August 6, 2010

PE Deals in Consulting Industry May Provide Opportunities for Executives

Pitchbook News, a weekly eZine from PitchBook Data, Inc., recently reported that...

148 companies in the Consulting Services industry have been involved in PE deals since the beginning of 2007, according to the PitchBook Platform. Deal activity in the industry is on the rise this year with 19 completed or announced deals so far, already smashing last year's total count of 12. 160 service providers participated in the deals. Credit Suisse was the most active, participating in 6 deals, followed by Goodwin Procter , Kirkland & Ellis and Ropes & Gray , each of which participated in 5. The most active investors in the space during the same time period include The Riverside Company (5 deals), DC Capital Partners (4), The Blackstone Group (3) and Vista Equity Partners (3).
Implication: opportunities for those who are connected to these deals/contacts.

Executive Actions: 
  1. Use your network to connect to deal makers in the investor industry. 
  2. Follow the money flow in your city and you'll find opportunities happening under the radar screen. 
  3. Keep looking to your peers to give you information that you may not get online or in print.
  4. Observe the trends by keeping connected to a variety of thought-leader reporting, such as PitchBook News.

Tuesday, July 27, 2010

Organizations of Networks -- Part I

McKinsey Quarterly's article Clouds, Big Data and Smart Assets: Ten Tech-Enabled Business Trends to Watch, published this month states:

"...Exploiting these trends typically doesn't fall to any one executive -- and as change accelerates, the odds of missing a beat rise significantly. For senior executives, therefore, merely understanding the ten trends outlined here isn't enough.  They also need to think strategically about how to adapt management and organizational structure to meet these new demands (emphasis mine)."
This is a powerful understatement!

With the rapidly changing world of technology and how it is impacting an executive's world is significant.  It is effecting how executives find new opportunities in their search to keep their careers meaningful, but it is also radically changing how customers and revenues are flowing to companies that are on top of the changes.

Think about how you have moved from using your laptop to using your cell phone as your primary communication tool.  Over 450 million people use their mobile device as their Web experience!

Trend #2 is "Making the network the organization."  Here McKinsey's authors Bughin, Chui and Manyika discuss how:
  1. To "..tap into a world of talent," which includes all forms of services -- outsourcing, entreprenuers, and "nonemployees" (their word).
  2. To utilize sociall networks and media to expand access to experts and "..set up new innovation communicities" to speed up delivery of services.
  3. To leverage talent to tackle complex challenges by using networks that focus on orchestration of tasks vs. workers.
Executive Action's recommendations:

  • Get familiar with social networking, social media and new technologies as they emerge because you are either going to get on board or get lost in the dust.
Call to Action:  What value has social networking/media been in your executive career?

Friday, May 14, 2010

Setting Yourself Up for Success

When we want to set goals for ourselves, we often start by describing something we lack or want in the future. Then we assess where we are right now, measure the difference between the two, and outline the steps to take to achieve that goal.

Every day, I meet with executives around the world who are either focused on getting a job, changing their career path, or looking for their next move up in their current company. Invariably, the discussion focuses on what steps to take to “get there” and often the discussion lacks focus beyond the next six months.

But “getting there” usually implies a perfect, step-by-step plan that doesn’t allow for contingencies, disruptions, emotions, or simple failures. The result is that eventually they missed an outlined step, tried to go back and make it happen, and get frustrated.
In my phone meetings, I can tell when someone is trying to dig out the hole they think they’ve created by looking how far away they are from their goals. Generally expending more and more energy hoping for better results, I can sense that they are close to giving up. Often, they’ve waited too long to reach out for help and have used precious energy, resources and finances and are at the end of their rope.
Thinking about what it takes to get direction and momentum in achieving any goal, I have some insights I want to share with you. I have a different perspective when I think about success and I want you to begin setting yourself up to succeed – not matter what’s happening to you.

Insight #1: Success isn’t about achievement; it is about learning something along the way.

Things are not linear today. Stability is out the window. Using linear thinking supposes that properly lined up steps will result in achievement. But, in reality, experimentation, risk, human relationships, serendipity, chance and being in the right place at the right time has a whole lot to do with seeing results today. We must be more willing to deal with ambiguity with respect to planning out executive careers.

Insight #2: Success is deeper than arrival; it is about character, perseverance, and courage to achieve any goal.

We are in a cycle of major change that will last decades. We’ve got to get a clue that our career success must be measured differently than in the past. Our potential – the future, our ability to be agile, and our identity – must be aligned with these major changes. Executives must do much more than focusing on landing a job in a company. We must make the leap, take the risk, and do something different to transition ¬with what’s happening today.

Insight #3: Success is about “becoming” what we want, not “doing” what we need. We are not human “doings”; we are human “beings.”

As someone said the other day, “It is not where you start that counts; it’s about how well you finish.” Who you are is always going to be more important that what you do.

We must really look at what’s going on around us and determine what our lives are all about. With upwards of 90% of executives looking to leave their company as soon as the economy turns around, collectively we are not defining what is important to our lives and are just “muddling around in the middle” waiting for something new to happen to us.

To move into your future, you must abandon the past and grab what’s ahead.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The MarketOne Executive™ Bottom Line:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
How do you set yourself up for success in your job search, career plans, or new business endeavor?

Here are some things to think about:

1. Determine daily what is most important for your life. Make this an activity or task that you look at every morning. Ask yourself what provides you with the greatest reward, personally. Direction leads to movement when you enjoy your life.

2. Align all other “must dos” as secondary. Organize your “must dos” from most important to least important as a result of what is most important to you today.

3. Create boundaries that cannot be crossed by you or your loved ones. Design your day using the criteria of what’s most important, what must be done and what boundaries can’t crossed. It is the step-by-step, day-by-day efforts that get you to where you want to go.

4. Know that what you learn is more important than what you do. Tasks completed, or not, are not definitions of success or failure. What you learn through each task you tackle is much more important. What you learn about yourself, why you completed or didn’t complete a task, and what motivates you in either direction tells something about your goals. And what you learn is how you should measure success.

5. Reflect, revise and renew. For every task or activity that didn’t get done, ask yourself:

• Why didn’t it get done?
• Why did I not do it?
• What are my emotions around this task?
• What’s the lesson?

  
The measure of success isn’t whether or not things get done. The measure of success is being aware of who you are and what you’ve learned today – about yourself, your true goals, and how you want to live as a human being.

What do you think?  Love to hear what you have to say.

Thursday, March 4, 2010

Why “Passion” May Be a Problem When Looking for New Opportunities

Anna is a client of mine who, after 25 years in her field, is tired of her career. She says it is boring and just doesn’t get her juices going. She wants to strike out onto a new path or she wants to do something important and make a contribution. “Karen, I just want to be passionate about what I do. I am so tired of working so hard and not getting any recognition,” she exclaimed.

Can you relate?

Often we use the word “passion” to describe what we want in our next position. Usually we use it as a code word to say we want to do something interesting in our next role.

And that’s where I begin to have a problem.

Since 2002, I conduct close to 300 free, no obligation, 30-minute Strategy Sessions in a single year. I really enjoy doing them because each situation is unique and different. Together, we brainstorm about how to approach a career or job search with fresh and insightful ideas, always looking to significantly improve results right away.

But when someone, like Anna, says that they now want to pursue their passion in life, I get knots in my stomach.

Why?

Well, to be honest, pursuing your passion is NOT presenting your potential! Here what I’ve found:

1) Passion is not something you pursue; it is something that you have.

Passion is applied to something that you are interested in. It is not a beacon of light in the darkness that will tell you that you’ve arrived at your destiny. When I talk to someone who is trying to find their passion – out there somewhere – I know that it will be a long time before they find what they are looking for.

2) Passion is a result of success; not something you get when everything lines up right.

Passion is basically a follow-up emotion created when you are doing something you are good at. I never thought I would start and run an executive coaching firm. But as I got really successful at it, my passion came and now I love what I do.

3) Passion is the energy to perserve whenever we are challenged; it is not the momentum that propels you to a destination.

One of the reasons why, after landing, 80% or more of executives become discouraged and disheartened within six months is because they are thinking incorrectly about “passion!” Many are looking for the employer to give them “passion” while doing their job. Within weeks of starting a new job, most realize that the new employer only wants a lot of hard work, doesn’t appreciate their experience and gives them very little recognition for what they know.

The MarketOne Executive™ Bottom Line:
 
Passion can be a “dangerous delusion.” It sounds right, but it is oh, so, wrong.

Opportunities are being fought for vigorously by many, many others who want that job as much as you do. Making an emotional decision as to whether a position is right for you by using “passion” as the barometer, is a great way to extend your search, stay confused and/or get more stuck than before!

Rather, I suggest that you look at the pursuit of you next position by identifying your economic “potential.”

Your potential is identified by answering these tough:
  • how you are meeting what the market demands today (not yesterday),
  • why would someone want you as opposed to someone else,
  • when will you provide a return on investment for the company,
  • what latent potential do you have that is of value to the employer, and
  • how are you presenting yourself – as a luxury, top-end item or a commodity?
If a potential employer sees some of these elements in you, then you have an opportunity to plug into your passion. And once success is yours, it is a-m-a-z-i-n-g how this fuel called “passion” shows up on the scene.

What are your thought?  Love to hear what you think.

Wednesday, February 3, 2010

The Emergence of the “Execu-preneur” in the Next Decade

What do smart executives do when there are too many competitors in one market? They find new markets.


With slow growth predicted in 2010 and beyond, hiring – although in some corners predictions state that executive hiring at the very top will be robust for the next 6 months – is sure to be slow and cautious for most companies. Many headwinds, including but not limited to healthcare reform, cause barriers-to-entry that make the risk of high salaried talent to be too much for mid- to large sized companies. Small organizations, traditionally fueling the hiring boom in previous years, have too much to do in keeping themselves healthy to consider hiring anyone.


CNN Money.com, on January 7, 2010, reported on the Conference Board’s macroeconomic research for 2010. Gad Lavanon, associate director, is looking for unemployment to remain at 10% or greater and doesn’t expect unemployment to return to pre-recession levels of under 5% anytime in the next six years. The National Association of Business Economics stated that 60% of companies don’t expect payrolls to return to pre-recessional levels until 2012.

ExecuNet’s Mark Anderson differs stating that their Recruiter Confidence Index in December 2009 revealed an “…anticipated increase in search activity [which] shows companies have started to expand their workforces after a long period of cutbacks.” He believes that executive employment is brightening and possibly rebounding in the next six months.

Which is it: robust or cautious executive hiring in 2010?

I wonder if it makes any difference.

After two years of going through a hard slog and wondering whether or not one will have a job in the next year, many executives that I talk with are dissatisfied with their jobs and are looking for greener pastures.

One poll I read recently said that 75% of employees hate their jobs. And another 10% to 15% are dissatisfied. With longer work hours, increased pressure to produce results, and little or no increase in compensation, many have had enough of the idea of being someone’s employee. If not for the healthcare problems in getting new coverage, many would have left their jobs a long time ago.

What’s the answer?

I believe a resurgence in entrepreneurialism is about to hit the economy in from 2010 to 2020.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
 
Executive Actions:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Becoming an entrepreneur, when no other opportunities exist, is not a new concept. But in the Great Recession, more top level leaders were laid off than in any economic contraction – ever. That means that many executive and top leaders are competing for fewer and fewer openings.

This mass migration from executive to entrepreneur is a trend that I am calling “The Emergence of the Execu-preneur™” – executives who are moving into entrepreneurial roles, sometimes for the very first time in their careers.

What does it mean if you are thinking about joining this trend?

Here are two questions you need to think about.
  • Question #1: What is your motivation for becoming an entrepreneur?
  • Question #2: How will you address the three big challenges of Money, Product and Pricing that every new business faces?

Your answer to these questions is very important to consider. I help you figure out how to think about them in my newest FREE eBook called 7 Questions to Ask Yourself When Thinking About Making the Transition from Executive to Entrepreneur.

Feel free to download the eBook and contact me with your ideas and thoughts.