I worked for a Fortune 20 company in California and in the last few years that I was there, the company was implementing a massive down-sizing, out-sourcing, retooling, re-structuring, re-engineering cost-cutting strategy. All levels of management were being flattened, particularly middle-management. Leadership at the top was also vulnerable. Pay for performance was a long-time institution for most employees but in recent years, pay-at-risk was implemented for the top leaders, too.
Did this worry me? I wasn't exactly worried but I was concerned. I loved my job and the company I worked for. My co-workers were my friends and my extended family. I felt emotionally attached. My career at this company was a constant in my life through my divorce, deaths in my immediate family, buying my first house as a single mom and riding turbulent economic times. To me this was more than my job, it had become my life. What would I do if it ended?
 | So let's back up some years when I met a man who greatly influenced my thinking about my career and job. He was my wake-up call. He is a business coach and small business entrepreneur, very knowledgeable in so many areas, such as, sales, investments, knowledge management and info-preneuring. He guided me into thinking of myself as solo-preneur contracting my services to the company I worked for. He showed me a perspective I had not considered before, being the CEO of my own company working for myself. Of course, this is not an original idea-Brian Tracy says the same thing, but it was the way Dwayne said it that woke me up, showing me I had created a dependency upon this company far beyond a salary. Seeing this perspective, I could no longer depend upon the company for which I worked, for my salary, my social network or my career. I was the only one responsible for my job and my paycheck. It was then I started to venture out of the dependency and took full responsibility for my career and my livelihood. This truly was freedom for me. |
I am amazed that even now, employees are still surprised, distressed, depressed, angry and fearful when a company lays them off or someone close to them. In this day, companies cannot afford to be benefactors. They must make tough decisions to keep the enterprise profitable otherwise everyone is out of a job. There is nothing personal in their decisions; it is all about business. We must also make tough decisions for ourselves to progress our careers in the jobs that will provide the knowledge, experience and salary that will make us successful.
While I was becoming a CEO of company ME, I learned many valuable principles I'm now sharing with you. The first and foremost principle is: "I am the CEO of company ME." The next principle is: "Wake-up, job security is an illusion."
I was always an avid learner, absorbing everything around me about my job, the business, the industry, the markets, the infrastructure and more. However, with that wake-up call, began seeing all my learning and education as intellectual property and invaluable experience, not only for now but for the future. I began asking for and taking on new responsibilities, volunteering for extra assignments, taking on risky projects or work no one else wanted to do, specifically for the experience and the knowledge. The first principle here is, "I give extreme value in whatever I do." The second principle is: "Gain education and experience using other people's money." And because I did volunteer and took on more, I was offered greater educational opportunities and promotions. It is amazing to me what was within my grasp. I felt very fortunate and grateful.
I was building a stable platform for my future---not with this company or in this particular job, but with my intellectual property and experience. The principle is: "I can create my own future."
I was also building a stable financial platform for my future by taking advantage of all the savings, stock options, employee stock plans the company offered. When a company offers matching funds for you to purchase stock or some other retirement and savings program, utilize every program to the fullest. Investigate if your company has such a program. You will be amazed how much pre-tax dollars can add up and fund your future endeavors. Important principle: "Invest in my own future and fund my future with other people's money." You would be surprised how much money is left on the table by employees who believe they can't afford their part of the investment. Since it is mostly pre-tax dollars taken out before you receive your paycheck, you can learn to adjust your lifestyle. If your company does not have this type of program, create your own pre-tax saving account/IRA. It is worth it!
When the down-sizing began and people were asked to leave, it was devastating to so many unprepared professionals. Their whole work lives had been in this company. The benevolent company inadvertently created a dependency in its employees that proved detrimental in the long term. The company provided internal professional networks, family social events, recognition awards, and a variety of enviable benefits to keep their employees motivated and focused on working. There was little reason to go outside the company except for spiritual needs. Then when ties were severed, sometimes harshly, employees felt betrayed, hurt and lost. To the company's credit, it offered many high quality transition courses, processes, paid time to look for another job and other parting gifts, but there was a definite end to the parting gifts and finally the doors were shut and shut tight. The principle: "Dependency in any form is detrimental."
I was fortunate because of my wake-up call coach. I had begun structuring my own business to bridge my departure from the company if it became necessary or if I decided to do so. Again, it was true freedom to have choices. The principle I learned is: "Freedom is having a plan B in my pocket."
Create your vision and put together your plan B. I took time to create my vision because it was to be my vision of what I wanted to do if I could do anything I wanted. Although I mapped out a five year plan for practical purposes, the vision of what I wanted to create was longer term, very clear and exciting. Principle: "Envision my ideal future."
Putting together a five year plan was eye-opening. I could see potential obstacles that would need solving and opportunities I could take advantage of almost immediately. It gave me the opportunity to map out a path that I could begin implementing even though I had my company job. I thought through my business model, my service offering, my target market, how I was going to actually make money, who I would partner with and how I would reach my potential customers. I began studying other people's offerings who potentially would be partners or competitors. I created a web site and announced my business. Principle: "A low-risk startup: Put my plan into action and work out the kinks while I have an income." Too many small businesses fail due to under funding or other obstacles that become over-whelming when you don't have another income source.
Now if you don't want to start your own business, the principle is still the same but the vision and plan are different. If you want to get a promotion, a higher paying position in another company or offer your talents as a free agent, put that into your plan. Before I completely realized I wanted my own business, every two years I would update my resume and go interviewing for positions that sounded great to me. This was great practice without pressure. If I didn't get the job, I asked for and received great feedback. I would use that feedback to improve the ME company. If I was offered the job, it was validation that I still had marketable skills.
Because I was CEO of my own company I wanted to let people know who I am and what I offer. I began joining free networking groups online and attending business networking meetings. As a result, Dwayne (my coach) and I created several networking organizations to attract others who were doing similar or complementary work. It was such a creative high during that time along with being extremely educational in life outside the big corporation and into the world of entrepreneurs and small businesses. Whether you eventually own your own business or intend pursuing a job and career within your company or in another company, the contacts are worth their weight in gold. The principle: "Create a business and professional life outside the company."
As I began these extra-curricular activities, I found that I became more valuable in my job. My external perspectives were valuable in many of my projects and I attracted better projects that helped with my own business. I had created a generative cycle of learning and experience while getting paid a very good salary and creating an additional income stream that I could crank into full force if I left. And because what I did in my own business and what I did within the company were complementary and fed each other, it was flowing easily. It was like having another project, rather than having two jobs. Principle: "Create a generative cycle of learning and experience."
Two years ago, I was offered a generous, voluntary-leave package. I took it gratefully knowing I had planned for my ideal future in Hawaii and it was time to live it.
To recap here are the principles I learned. They are not in the order I learned them, but I recommend you consider them in the following order:
1) Wake up, job security is an illusion.
2) Dependency in any form is detrimental.
3) I am the CEO of company ME.
4) I give extreme value in whatever I do.
5) I can create my own future.
6) Envision my ideal future.
7) Gain education
and experience using other people's money.
8) Invest in my own future and
fund my future with other people's money.
9) Freedom is having a plan B in
my pocket.
10) Put my plan into action and work out the kinks while I have
an income.
11) Create a business and professional life outside the company.
12) Create a generative cycle of learning and experience.
And a last principle to consider is, give back in some way. I started the Silicon Valley Chapter of GraceNet, a professional businesswomen-in-technology network. I would bring in role model women executives from local companies, motivational speakers and educational seminars. I also coached women who were laid off and needed support. I expanded my network enormously and built a very good reputation in the business community.
It's
your company and you are the CEO.
Take care of your brand and reputation,
your progress,
your livelihood and your independence.
Sylvia
Maya Dolena
Business Innovation Lab
Winning Edge University
PO Box 986
Pahoa,
HI 96778
808 965-1899
www.winningedgeuniv.com & www.businessinnovationlab.com