Tag Archive for: Business Advice

C.E.O. Lori Dickerson Fouché on Recognizing Leadership

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Lori Dickerson Fouché is the C.E.O. of Prudential Group Insurance and held the position after Hurricane Sandy hit New York City. Having taken leadership roles as a young black woman in America, Fouché has been successful in management positions since the age of 24 and continues as C.E.O. of a major insurance company at 47. Here are her highlights from the interview with Adam Bryant:

  • On lessons she learned early in her career: “One was learning how to prioritize. You simply can’t do everything.”
  • Assess your leaders by their results: “I expect my leaders to listen. I expect them to ask questions. I expect them to understand what’s going on.”
  • On Hiring:
    • Know that prospective hires have done their due diligence on the company
    • Ask what kind of cultures they like to work in, where do they excel, and how do they conduct themselves in the face of challenges
    • Look for resilience and perseverance
    • Ask how they would lead people

As graduation season comes to an end and young graduates enter the workforce, it is important that they find jobs that they really want to do and learn what they can from that experience. Lori Dickerson Fouché suggests that graduates find a company that is a good fit for what important to them and their personal values.

Read the full article here on The Newt York Times.

Social Media: a Tool for Relationships or Merely a Substitute?

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As cell phones and social media continue to place themselves at the center of our social lives, we wonder what effect its importance has on the quality of our social life. Is the pressure to answer every tritone and whistle distracting us from meaningful human interaction? Or is maintaining contact with otherwise long-lost friends through Facebook leading to longer-lasting friendships?

Here are some of the arguments for and against social media as presented by The Wall Street Journal:

Social Media is Detrimental to Society:

  • We spend too much time on social media to build real connections: “We spend so much time maintaining superficial connections online that we aren’t dedicating enough time or effort to cultivating deeper real-life relationships.”
  • We are on our phones even when we’re not talking: “Worse, we don’t even need a beep or vibration to distract us anymore. In one study of more than 1,100 teens and adults, my fellow researchers and I found that the vast majority of smartphone users under 35 checked in with their electronic devices many times a day and mostly without receiving an external alert.”
  • Empathy is lost in emoticons: “In one study we found that while empathy can be dispensed in the virtual world, it is only one-sixth as effective in making the recipient feel socially supported compared with empathy proffered in the real world. A hug feels six times more supportive than an emoji.”

Social Media is a Tool We Use to Maintain Relationships:

We’re doing a good job of staying in touch: “Social ties that we once would have abandoned as we left high school, changed jobs and moved from one neighborhood to another now persist online.”

  • Seemingly trivial messages communicate much more than you think: “It is tempting to dismiss as trivial many messages exchanged online. But together, the small sips that come from the steady contact of social media can add up to a big gulp of information about the activities, interests and opinions of the people we connect with. They communicate mutual awareness and closeness along with information that we wouldn’t otherwise receive.”

Are we moving to an ever more interconnected society or one that will soon forget how to interact with one another? Is your social presence going to be more valuable than what you present in person? What is sure is that the way we relate to one another is changing and adapting to the way people now connect will be key to success in your business.

Click here for the full article on The Wall Street Journal

How to Approach Conflict in the Workplace

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Conflict is a natural element to any functioning workplace, but dictating its course can be the difference between healthy discourse and petty ad hominem attacks resulting in lost productivity. What is the best approach to ensuring a conflict becomes constructive? Phyllis Korkki gauges conflict in directness and intensity in her article in The New York Times. Here are a few key points from her piece:

  • Opt for unambiguous conflict resulting in debate: “The preferred form of communication is high directness/low intensity … With this method, people tend not to focus on any personal stake they could have in their positions. They listen to others’ views and take them into account while working toward a positive outcome.”
  • Avoid high intensity conflict, as employees will become defensive: “When conflict is expressed with high intensity, whether directly or indirectly, the issue can start to feel personal to the parties involved…people may respond by attacking others or defending themselves. They are more likely to dig into their positions without listening to other viewpoints and processing new information, meaning that an effective resolution is less likely.”
  • Make healthy conflict resolution part of your office culture: “When more people understand what healthy communication looks like at work, and the more that people practice it, the more likely they will exhibit it themselves.”

As a manager, it is your responsibility to maintain a harmonious office conducive to productivity and free of negativity. You should keep these points in mind in order to foster a healthy work environment, resulting in happier employees who feel respected and valued.

For the full article on the New York Times click here.

Properly Extracting Value from Data

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Is big data overrated? In a world ruled where metrics are king, raw data is being used to assess the quality of subjective things. We use big data to quantify the quality of teachers, students, and our fitness, but what insights are we drawing from that data?

In the mid-nineties, websites like Facebook were using human judgement to help discern quality insights over mindless data. Asking people how they felt about what was presented to them in their newsfeed granted them insight on what was an absent-minded click and what was an actual engagement.

Big data often fails to consider human factors that are often left unaccounted for. In the case of teachers, big data may determine that a certain teacher is doing poorly, but small data will tell us why that is. Conversely, it can tell us what a teacher is doing right to yield better results amongst children. Big data does a great job of explaining results, but a poor job of explaining how or why you got there. There is no replacement for human inspection and expertise, as much as companies try to avoid doing so.

As optimistic as we’d like to be about using big data to improve our lives and save us money, we can’t let it replace traditional decision making. Instead, we should use it as a tool to make more educated decisions.

To read the full article on The New York Times, click here.

Marketo and LinkedIn Team Up to Offer Personalized Ads

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14257556613_4cfd6d3aa7_oMarketo, a digital marketing automation software company, has struck a deal with LinkedIn to use its metrics and database to target ads specifically to LinkedIn, allowing marketers to better hone in on their target market. With GE as its first customer, it is looking forward to engaging consumers with a brand in a more professional context which was previously unavailable. Here are some key points from the article:

  • LinkedIn and Marketo are partnering up: “Marketo brings to the partnership software that automates digital marketing across the Web, email and social and mobile channels. That’s being integrated with LinkedIn’s new ‘Lead Accelerator’ product, which helps marketers deliver more relevant ads by combining data about what part of the brand’s website the person browsed with demographic information from the person’s profile on the LinkedIn professional networking site.”
  • How is this different from LinkedIn’s previous advertising? “The integration essentially bridges paid advertising on LinkedIn with the digital marketing that Marketo is known for and helps advertisers tell a consistent story across those channels, said Marketo Chief Executive Phil Fernandez.”
  • Consumers respond to ads that are consistent through multiple devices: “‘Consumers are expecting relationships to follow them around as they move through all those places,’ Mr. Fernandez said in an interview. ‘We move around devices and apps without thinking about it, but what brands are saying to us doesn’t.’”
  • This advertising strategy adapts for consumers who may take several paths when researching a purchase: “There are multiple paths a customer might take to research and make a purchase decision, including a combination of online channels and offline interactions, like conversations with an actual salesperson, said Andy Markowitz, general manager for GE’s Performance Marketing Labs.”
  • Marketo will not stop with LinkedIn: “For Marketo, the LinkedIn partnership is the latest in a series of deals that aims to help marketers create continuous conversations with customers across digital channels. The company recently reached a deal to integrate its software with Google AdWords and Google Analytics products as well as Facebook’s custom audiences.  Marketo this week is also rolling out new products to help marketers reach customers across all major digital channels through a single software platform.”

LinkedIn and Marketo are sure to make waves with this new service, and will open the possibility of advertising B2B product and services through social media. There is no denying that personalized ads are the future of advertising, and with Marketo and LinkedIn becoming bigger players in the game, we can expect many more changes to come.

For the full article on The Wall Street Journal, click here.

Marketing Trends For 2015: Mobile Marketing Will Dominate

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One of the biggest trends for marketers to observe in 2015 is the prominence and dominance of the mobile consumer. A number of interesting points can be made on this topic:

  • Mobile is estimated to be the primary channel for paid search by the end of 2015.
  • Having a website optimized for mobile, and not just a responsive format, will be crucial.
  • In response to the dominant mobile consumer, location-based marketing will increase targeting consumers based on where they physically are, what they’re doing, and what’s nearby that may interest them.
  • In 2015 the marketing formula is simple: SOCIAL + LOCAL + MOBILE = RESULTS!

Stay tuned next week for more 2015 Marketing Trends!

(Information sourced from Randy Schrum, Founder- Inspired Venture Group | Business Innovator and Speaker on Conversions, Marketing, and Sales)

Marketing Trends for 2015: Content Marketing

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The marketing landscape is changing rapidly before our eyes. Business owners and marketers need to plan strategies for the coming year well in advance – now more than ever. One of the big marketing trends for 2015 is content marketing. But what does “content marketing” mean, and why is it so crucial?

  • Content marketing is any marketing that involves the creation and sharing of media and publishing content in order to acquire and retain customers.
  • In 2015, marketers must center their content around the reader, not the product. Those who merely pitch run the risk of being ignored.
  • Show your audience you care by dedicating resources to answering customer questions and providing valuable assistance online.
  • The more a company tries to “push the sale” the less likely potential customers will spend with the business. Show passion for your product without sounding like a used-car salesman.

Stay tuned next week for more 2015 Marketing Trends!

(Information sourced from Randy Schrum, Founder- Inspired Venture Group | Business Innovator and Speaker on Conversions, Marketing, and Sales)

Pushing Beyond Comfort Zones

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Mitch Rothschild is the chief executive of Vitals , a website that connects patients with doctors and medical facilities. Adam Bryant from the New York Times sat down with Rothschild to discuss his early lessons from managing people, his leadership style, and how he hires. Here are some great points from the article:

  • Developing personal connections with your employees can be emotionally draining: “You always want to be one of those leaders who care deeply about their staff and look after them, but at some point you have to make the shift and say you’re going to do the right thing for the business.”
  • Don’t always assume that people know everything: “People just have this incredible thirst to be connected, and they need multiple reinforcing points of communication. I have to remind myself over and over not to assume that everyone knows something.”
  • Seek out a meritocracy: “If you find a meritocracy and you’re highly ambitious and you want to drive your career forward, then nothing’s going to get in your way.”
  • Don’t wear “busy” as a badge of honor: “We’ve become crazy about being crazy, and I’m stunned at how many people are absolutely exhausting themselves. It’s important to figure out how to be ruthlessly efficient and disciplined with your time, and do only those hings that matter.”

To read the article in it’s entirely, click here.

7 Smart Questions to Ask At the End of Every Job Interview

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At the end of every job interview, most people know that they should ask questions. It shows that you’re interested and gives you valuable information, but what do you ask? Here are 7 great questions to ask during your next interview:

  • What do you like most about working for this company? They’ll tell you what they value most and you can see if you value the same things.
  • How has this position evolved? Their response will tell you if the job is a dead end.
  • Can you give me examples of how I would collaborate with my manager? Their response will tell you how staff members are used and if you can showcase your skills.
  • What are the first priorities for this position? Helps you know what to focus on if you get the job and how to make a good first impression.
  • What are the challenges of this position? This helps  you know what you’re facing and if they don’t list any challenges, be very suspicious.
  • What have past employees done to succeed in this role? This gives you an idea of how the company measures success.
  • Do you have any hesitations about my qualifications? This shows that you are secure enough to discuss your weaknesses.

Read the entire article here

Play to Your Team’s Strengths

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02-CORNER-master495Deborah Harmon is the chief executive of Artemis Real Estate Partners, a real estate investment management company headquartered in the Washington D.C. metropolitan area. In a recent interview with Adam Bryant of the New York Times, Harmon discussed her personal managing tips, her hiring process, and how she got to where she is today. Here are some of the most salient points from the interview:

  • Become a problem-solver and a fixer: “If you have that attitude, it encourages people to bring you their problems early and often, and that’s good. But if you’re a fixer, then you risk spending your whole day fixing other people’s problems.”
  • Play by peoples strengths: “rather than trying to shore up their weaknesses. Because if you play to people’s strengths, you create a team of complementary skill sets. It’s like a puzzle. ”
  • Chance favors the prepared mind: “I use that in our company with young people because they have to be so detailed-oriented, but also in seeing how people prepare for the interview. 

Click here to view the full article from the New York Times.