Giving A Light Touch To Creating Twitter Community
October 12, 2009
My fellow Boomer and fellow Twitter buddy @CASUDI wrote on her blog, INCLINED TO DESIGN her experience in building community on Twitter. It’s both easy (and good) reading, tells how she has build some nice relationships (including one with me) and lists some people who, if you want to build a Twitter presence, are just good folk to know. Click on this link and enjoy a “good read.”
Business Owners and Contentment
September 30, 2009
Just the other day, I happened on a Tweet from my friend David Newman (Not the composer, but @DavidNewman on Twitter.com), telling about a Gallup-Healthways study, called the “Well-Being Index,” that appeared in the New York Times (http://bit.ly/pqZRj). Turns out that those happiest with their jobs are Business Owners @ 72% and Professionals @ 71%. Other professionals scored lower “overall well-being” on the index. What makes for entrepreneurial and professional contentment? Could it be that on those two career paths, there is more control over what life serves up? It’s an article worth reading.
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Be Prepared – Are You Ready for Surgery, Illness or Death?
August 14, 2009
What do you need to do, know, have in place BEFORE undergoing a serious medical procedure? Here are some tips I developed when a friend called to tell me they were going to have a serious operation:
On the medical side, do you have:
- A durable Power of Attorney (PoA) relating to your temporary or long-term incapacity and/or your death. This document allows your selected representative to continue to conduct your business, even when you can’t;
- A Health Care Directive signed and executed, identifying who you have chosen to be (and who has agreed to be) responsible for acting upon your instructions for medical care, even when you can’t. Be sure the person chosen is committed to do what you want done; Resource: (http://www.geocities.com/organdonate/LifeSupportDirective.html)
and/or,
- A Living Will that’s in place and that follows the same guidelines for a Life Directive. Many states have their own forms and requirements. Also who or what agency is responsible for processing the paperwork, and how it is administered, may be different in many states. Instructions for MD’s noting prior care or illness, drugs, allergies, etc should be included, even if not required.
- The State of Pennsylvania has a web site with a form that combines these forms into one. Remember, though, that many states have their own requirements, so make sure to check if your state has more stringent requirements. Go to: http://www.aging.state.pa.us/aging/lib/aging/Sample_Forms_for_Advance_Directives.pdf.
On the personal side, you should have:
- A Last Will and Testament (including the allocation of personal items);
- Recordings (audio and/or video) to key people you want to reach out to;
- Personal business financial records (bank, credit card, retail store cards with account #’s, institutions, passwords, where records kept) [IF YOU DIE, SAFE DEPOSIT BOXES AND/OR BANK ACCONTS SOLELY IN YOURNAME ARE TYPICALLY FROZEN. JOINT ACCOUNTS ARE TYPICALLY NOT HANDLED THIS WAY.]
- Electronic Records (accounts, passwords, disposition);
- Business financial records and Intellectual Property (IP) – List the status and contents of your IP assets – who will manage your creations going forward; small businesses (corps, llc’s etc) PoA for survivor(s) in charge, Employer Identification Numbers for each entity (EIN), business bank and credit information, passwords and payment due dates.
- Anything private you want to keep private from one, or more, relatives/friends, should be handled confidentially by your PoA, or be put in a safe place for the duration of your at risk period, or for disposition at your death.
- Contacts. Information your representative or the person designated as your PoA will also need names, addresses, phone numbers and e-mails for the following individuals (if you use them):
o Attorney(s)
o CPA
o Financial Planners
o Management Consultants
o Physician(s)
o People you want to reach – Those you want contacted personally and by whom – seal their information in envelopes with their names, addresses, phones, e-mails, etc indicated on the outside of the envelope. You may also share that you have a message for them, in advance.
I’m sure it’s possible to write an entire book covering all the contingencies and identifying all the people you may want to touch one more time (just in case). Many of us resist the notion of preparing for a crisis because we’re healthy today. Preparation though, is nothing more than making sure you get what you want done, even if you can’t ask for it to be done. I’d rather be prepared.
That’s about it, and here’s hoping none of it is necessary (just yet). By the way, my friend’s surgery…turned out just fine.
DISCLAIMER – None of the information contained herein is intended to be legal or medical advice. Consult an attorney for legal advice and your physician for medical advice.
John Reddish, the Succession Planner & Get Results Coach
10 Things You Can Do To Weather The Recession With A Smile
January 14, 2009
Here are my top 10 Things You Can Do To Weather The Recession With A Smile
1) If you read a newspaper, read the comics first.
2) If you need a new work opportunity, remember, you need only one.
3) Remember the words of Robert Schuller, “Tough times never last, tough people do.”
4) Friends can be a great source of support, cherish them.
5) Re-discover the inexpensive and free things you once enjoyed and have lost track of.
6) Practice “Europeanism” by sitting in a cafe (or coffee shop), sipping and watching people.
7) Think of those in the third world, even considering our society’s current level of stress, our lives are infinitely safer, more secure and healthier than most of theirs.
8) You are the sum total of all your thoughts and actions to date. Embrace yourself – hugs begin at home.
9) Sing – in the shower, in the car, on the street, wherever. Singing causes endorphins to flow.
10) Find a recession uplifting partner – someone who you can cheer up and make smile when needed and who can do the same for you, in return.
Now tell me – what are your top tips for handling tough times?
Succession Legacy
December 17, 2008
Whether you sell, transfer or annuitize your business, you can only project your legacy so far. At some point, your successor(s) will almost certainly stray from your vision.
It may be the because of economic challenge, or merely your successor’s desire to put his/her imprint on the business, but it will happen – YOUR business will take on a life of its own apart from you.
I was reminded of this inevitable change by a recent broadcast chronicalling the history of Sears, Roebuck, and its continuing decline. The dreams that become our businesses will, if successful, become whatever their own destiny decrees. The best we, as founders can do (if we are not to be depressed) is, as we begin our individual processes of letting go, is to view the business as we do our children. They grow up; they leave home. We do our best.
John, and his Associates at Advent, help entrepreneurs and other leaders who want to master growth, transition and succession to get results faster, less painfully and in ways that work for them. This happens through consulting, coaching/mentoring, training and/or speaking. Understanding that there is no ONE path to get results, client services are tailored to the way s/he can best use our services. John is a member of the National Speakers Assn. For more information: www.getresults.com. For succession information, go to: www.thesuccessionplanner.com. Or call 610.506.6311 in the US, 01.610.506.6311internationally, or at johnr [at] getresults [dot]com.
Why “How Starbucks Saved My Life” by Michael Gates Gill Is Important To All Of Us
November 8, 2008
Inspiration for Boomer/Successionists – I read a story not too long ago about Michael Gates Gill and his transformation, at 63, from a Madison Avenue advertising man to a “barista” at Starbucks. Gill tells of hero’s journey from, as he puts it, a life of “worth” to the retail counter. We Boomers, we entrepreneurs, who have founded and run businesses, are sometimes guilty of NOT understanding the importance of what comes next – TO US. A very successful car dealer friend wanted to own a hardware store one day (he chose, instead, to raise beautiful flowers). A computer services entrepreneur, wanted his own antiques/art gallery (I’ll be anxious to see just which way he jumps when the time comes. And we’ve all sacrificed to make something from nothing, which is what entrepreneurship is all about. Can we doubt our next adventure will be any less inventive and exciting?
Coaching for Succession
September 24, 2008
As a business owner looking to a new future, perhaps a new beginning, you are likely to have three concerns in understanding the importance of who and what comes next – Legacy, Liquidity/value and Letting Go.
In seeking a coach/advisor to be as little as a sounding board and as much as a trusted advisor, you need to enlist someone who is both sensitive/empathetic to these concerns and expert enough in the disciplines surrounding them to guide you and/or refer you to the expertise needed.
So, your first select in choosing your coach is, “Is s/he the one for me?” Remember, as you choose, this person will almost certainly know your innermost secrets. Trust and confidentiality are key. So, too, is personality fit. If the person looks like a distant relative you can’t stand, and this will be a distraction, hire someone else. Always trust your “gut.” If something doesn’t feel right, pay attention. Giving up your “baby,” your company, is tough. Being comfortable with your succession coach will make the whole process easier.
Second, your coach’s job is to help keep you accountable to yourself. S/he has to be tough enough to stand up to you when the time comes – and it will. At the same time, s/he can’t be a tyrant.
Third, sit down with your family and/or stakeholders and see how they feel about a different future. Explore what their “dreams” might be. You don’t have to go along with their thinking; it’s just helpful to know at the onset of the project.
Fourth, meet with your coach and share what you have learned. Tell him/her how important or how much of a challenge legacy, liquidity and letting go are for you. Ask your coach to help you devise a coordinated personal/professional set of goals to guide you through the process.
Some key questions you will need answers for (even interim answers work here) and that your coach can work through with you, are:
1. How do you want to be remembered (by group, eg. Family, community, your charities, friends, employees, etc)
2. Can I just walk away, or do I want some kind of transition?
3. If circumstances make it unlikely you will be able to step down right away, can you delay the transition until the company’s situation will permit it?
4. How much do you need – cash and annuity value – from the company to maintain lifestyle and meet other wants/concerns (leaving an estate, healthcare, spousal care, etc)?
5. Are you ready to let go? (in many cases this should be your first question!)
6. If you are “tired” and just want out, can you hang in there to maximize your return?
7. Have you “taught” all you need to teach to those who will carry on?
8. Are you willing to sell your company or would you rather it was adopted by a good buyer?
9. If an employment/consulting contract is part of the sale, are you ready to report to somebody else who’s now running “your” company?
Fifth, bring your attorney, your accountant and your financial planner into the discussion, introducing them to your succession coach, if they are not already informed. Succession is a team effort and each player holds a key position.
Sixth, start the process. In most instances, a good succession can take multiple years, particularly if the company might not command the value needed to meet financial needs after the sale. It all depends on what you want and your coach will be your champion.
© 2008 John Reddish
John Reddish works with entrepreneurs CEOs and other leaders who want to master growth, transition and succession to get results faster, less painfully and in ways that work for them. For information and/or additional similar content go to: www.getresults.com, my succession blog www.successionplanner.com or call 1.800.726.7985.
A Reflective Senior Moment
September 9, 2008
I remember when I couldn’t wait to be a high school Senior, then a College Senior, followed by a Senior Manager/Leader. In time I have become a Senior Advisor to many clients. What I, and many Boomer entrepreneurs like me have never wanted to be, is a Senior Citizen. It’s not that we deny getting older, we just never think of ourselves as “old.”
We are arguably more active and vibrant than past generations as a whole and more involved. Some of it is due, no doubt, to our belief that we might live forever so why put too much aside. Some comes from the need to work on because we haven’t put enough aside. I think the thought process for many of us, though, is rooted in equating death with retirement and equating productive work with being alive.
John Reddish, website: www.getresults.com, business blog: www.TheSuccessionPlanner.com
If only I knew now … thoughts about first jobs for new grads, and new jobs for the rest of us, by not-so-recent grad, John Reddish
July 3, 2008
On the one hand, if I knew then what I know now, I might not have been so eager to get that first PR writing job when I was fresh out of college. While it was a good start, and I got to write from day one (a rare occurrence in those days), it wasn’t the glamour job I had somehow hoped for. On the other hand, life has been good to me and I have been able to see how my work has helped countless people and businesses during a career that is fast approaching 40+ years.
An article in the New York Times once announced that the average American has about 10 jobs over the course of his/her working years. I’ve only had 7 to date, so there’s still time for me to job hop if I want.
I have been blessed with many opportunities, and I know that had I changed anything, anything at all, my life would be different than it is today. Not better. Not worse. Just different. I have had great successes, significant challenges, I’ve made some colossal mistakes and I’ve had my share of failures. But I wouldn’t be who I am if I hadn’t taken this path. And I like ME.
So, graduate (and post-grad), you may be facing anything from a gravy train opportunity to uncertain prospects to no job at all. No matter. Here are some thoughts from an iconoclast who’s done OK.
First, your life should be about your dreams come true, not someone else’s dream or somebody else’s dream for you. Nothing dries up your creative juices and kills your spirit like work you don’t enjoy, an employer you don’t respect, or work that is not on a clear path to your goals, even if it’s the family business. I am reminded of artists who wait tables, entrepreneurs who perform modest tasks, and eat endless amounts of macaroni and cheese just to pay the bills, while they risk all else for their dreams.
If you must work at something else to support your dreams, for however long, remind yourself daily what your real goals are. It helps you keep both your sanity and perspective.
Feel free to experiment. The stain of “job hopping” is largely a thing of the past. But do try to do something you care about and that you believe in, as you strive for what you really want.
When making career decisions, make them from the head and from the heart/gut. When in doubt, trust your gut. It gets easier over time and there are far fewer regrets. Remember, too, that older people are not as dumb as we look. When we started out, we didn’t trust anyone over 30. We knew better than they. We were going to change the world. And we did. What time has taught us is that we were sometimes right. Today, I can say with that same certainty, “Never trust anyone over 90.”
Power, money and sex can all cloud our vision (so can drugs, booze, gambling and a host of other vices). Have fun but be mindful that you are not alone in this world and you “touch” more people than you think. It helps to remember that life is not about you. Only your life is about you, everything else is negotiable.
Be impatient with tomorrow. Push yourself to savor life to its fullest. Restrain yourself when judging others and the speed at which they progress. Somebody is always faster than you, and somebody’s bound to be slower. Listen (it’s a wonderful skill). Give older folks the benefit of the doubt but don’t let them off the hook for their past actions, and don’t let them dupe you into waiting forever. Negotiate. You are in a better position than you think.
Life can be weary at times, even when it’s the life you choose. Learn to live with the up’s and down’s. There are always times when you should congratulate yourself on who and what you are becoming and what you have accomplished. Don’t forget to do this. There are also times when you doubt yourself and feel out of sorts with your world. If you truly love what you are doing, it will pass. If it doesn’t, move on.
You will almost never get the approval you want from your parents and family. They tend to judge based on their own expectations. Learn early to seek your own approval. After all, yours is the only approval that really counts. There is, however, a secret to finding out just how proud of you your family is. When they are out of earshot, or not around, ask their friends what they have heard about you recently. They will frequently tell you about someone you hardly recognize, someone who has done great things. Yup, it’s you. It’s often hard to get sincere, in the moment, feedback from family sources.
By the way, my mother always wanted me to be a lawyer. I know each and every disappointment I showered her with. But I learned something important early on from one of the men she once dated. He was an Assistant Attorney General for New York State. He was a “success.” When I was 15 and raising funds for a school project, I went to him for a donation. While there, he asked me what I wanted to do with my life. I told him my mother wanted me to be a lawyer. “But what do you want,” he asked. At that time, I wanted to be a career Marine Corps officer. He told me to go for it, to follow my dream.
Then, he told me his story. The men in his family, he told me, were lawyers. Growing up, he had a dream to be an insurance broker. He thought it was a great way to help others. But he bowed to family pressure and went into law. Despite his success, he said there wasn’t a day he didn’t regret his decision. His was a gift to me for which I’ll always be thankful. I never became that Marine officer. I never became a lawyer. I have followed my dreams and I wouldn’t tell you to do anything else.
www.TheReddishReport.com – Business Succession Planning. John Reddish works with entrepreneurs and other leaders who want to master growth, transition and succession to get results faster, less painfully and in ways that work for them. For information and/or additional similar content go to: www(dot) getresults(dot) com, or call 1.800.726.7985.
Celebrating Our Immigrant Heritage
June 4, 2008
W.O.P. – It’s descriptive of an earlier derogatory attitude. It’s offensive. Still, many of our ancestors came to America in just that state– With Out Papers. As we celebrate our 232nd national birthday this year, let’s not forget that we are a nation of immigrants. Most of our families, in their turn, faced discrimination. Today we have, so the estimates say, more than 13MM illegal immigrants. Many of them work hard, work cheaply and still manage to send money home to their families who are able to live a better life because of it. Many also do jobs our children and fellow citizens won’t do, or really don’t want to do. Some are second generation, or more, and contribute quietly to our society in ways we can’t measure simply because they are operating below the radar.
I travel to New York frequently and drive where I can see the Statue of Liberty http://www.nps.gov/stli/, and Ellis Island where many first landed. It is really magnificent.
At Lady Liberty’s base is an inscription citing a poem by American poet Emma Lazarus, which ends with the statue herself speaking: “Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore. Send these, the homeless, tempest-tossed, to me: I lift my lamp beside the golden door.” Her invitation, and the accomplishments of those who have accepted it, has made ours a great nation. What are you doing to keep the lamp lit and the door open?
