February 8th, 2010 by GeekMBA360
Jimmy had been working for the same employer for almost a decade.
His employer was a recently funded start-up when he joined the company as a contractor. He performed well, and was soon hired as a professional service consultant.
Jimmy had great customer facing skills. Customers loved his work. He won an excellent employee award two years after he joined the company. He was doing great.
On the 3rd year, Jimmy then married and started a family. He didn’t want to travel as much as he used to be. So, he talked to his manager, and made a transition to in house software development. He was still working on the same product that he was implementing at client sites. He now worked on adding new features as well as maintaining the software.
On the 4th year, there was a disruptive change in the market. The product Jimmy has been working on started losing market share. It was still used by a sizable number of customers, but its growth was starting to level down.
On the 5th and 6th year, the product was becoming obsolete. It was clear to everyone that the company would soon end-of-life the product.
Jimmy was the only person who was working on this product. He felt threatened a little bit. But, he was waiting for his green card. If he moved to another company, he would have to apply green card again.
Jimmy could try to move into a different role. But, he had been settling nicely into his existing role — he was the expert in the product. He had a lot going on at home — with two little kids, he had to spend a lot of energy on the home front. He enjoyed the familiar work that he was doing everyday — it afforded him flexibility to balance work and life.
On the 7th and 8th year, the company kept losing customers. It’s apparent to everyone that in 12 to 18 month, the product would no longer be supported.
At that time, there was plenty of rumors that the company would be acquired by a large company. The employees might finally see an exit event. Although it wouldn’t make Jimmy a millionaire, it would still mean a healthy amount of cash.
Jimmy wanted to wait until the exit event took place. His plan was to cash out, and then looked for another job.
On the 9th year, the economy took a dive. None of the acquisition rumors became reality. The company had to raise another round of funding. Employee stock options were further diluted.
The good news was that Jimmy finally got his green card.
But, his product was no longer offered. His job was eliminated. He was laid off. He was very disheartened by what had happened to him. He had a lot of fears about what would happen next. He hadn’t looked for a job for 9 years. A lot of the stuff he worked on were very specific to the particular company and product — in other words, they’re not very transferable.
Don’t let yourself get into similar situation.
If you work in high tech industry, you should be ready to switch job every few years. The industry changes too fast.
Don’t let yourself get too comfortable.
You need to continue to renew your knowledge and skills.
It is very risky to place all of your bet on a single employer.
Until an exit event actual happens, it’s just a rumor. Expect the unexpected when you plan your career moves.
(Disclaimer: This post is based on a true story, but details have been changed slightly to protect confidentiality.)
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Tags: Career Fast Track · Recruiting & Job Hunting
February 6th, 2010 by GeekMBA360
"How did you guys meet?" — this is one of the most commonly asked questions we ask couples who are in love.
Over the years, I have heard many answers.
- "We were high school sweethearts. We have known each other since we were thirteen years old."
- "We were in the same English class during our freshman year in college."
- "We had a common friend who set us up".
- "He was my TA in college."
- "We met at work".
- "eHarmony.com"
- "We were part of the same bible study group."
- "I was traveling in Argentina, and fell in love with this guy I met in a Cafe."
- "We both were part of a weekly hiking group."
- "We were partners in a Salsa dance class."
- "I was the sales rep. He was my customer. We ended up getting married."
- "We met at the Kaplan GMAT class."
- "We were both on the same coed softball team."
- "We were both studying in the quite room in the public library."
- "We were both volunteers at Habitat for Humanity."
- "We were both interns at Microsoft."
- "We met at the post office. I was short of $10 dollars. He came to the rescue."
- …
There are many ways for people to meet and fall in love. But, I know very few couples who met in bars or other type of "meat markets".
The most common theme is that people meet via shared activities — school, volunteer work, sports, dancing, work, etc.
In fact, there is a body of academic work on building personal and professional networks via shared activities.
But, I keep hearing complaints from single guys and gals about how hard it is for them to find dates. They go to bars, clubs and other "meat markets". I keep telling them that they’re going to the wrong place!
Finding a suitable significant another is one of the most important decisions in your life. Your life quality, career satisfaction, and financial security will have a lot to do with your choice of spouse. You’ll be much better off by finding someone via shared activities. Instead of going to bars and clubs, take a class you have a genuine interest in. Volunteer for a cause you care about. Join a sports league. Sign up for a dance class.
Do things with others, expand your horizon according to your interests, and you’ll meet a lot of truly interesting people.
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Tags: Work/Life Balance
February 3rd, 2010 by GeekMBA360
A few years ago I ran into an acquaintance at the Phoenix Airport. He had been working as a post sales consultant for the same company for several years.
I asked him: "How are things going?"
He said: "The same old shit, the same old shit".
Have you had your own "same old" moment/day/week/month/year/decade?
You get up at the same time every morning, tired, want to sleep in for another hour but you have to go to work.
You go through the same morning routine: eat a quick breakfast, fight through the same morning traffic, stop by Starbucks to grab a cup of coffee, check your blackberry while you stop at a red light, get to office, and start slaving away.
You don’t like your bully boss. You’re tired of your back stabbing colleague. You don’t like your work environment. But, you keep doing the same thing at work. You attend meeting after meeting. You write email after email. You come in early in the morning so that you can talk to your colleagues in Europe. You work after dinner so that you can get an update from your colleagues in China.
You feel you don’t spend enough time with your family. You feel that you’re chained to your paycheck.
Days past. Months past. Years past. The same old stuff.
You suddenly wake up one day. What am I doing? Why am I wasting my time? Don’t I deserve better than this?
Don’t wait until you have a major life crisis to wake up.
Don’t repeat the same old stuff.
If you find yourself saying "the same old stuff" to others, you’re having a problem.
You need to have an identity outside of work.
You need to feel motivated, active, and stimulated everyday.
I challenge you to step out of your comfort zone and try new things:
- Take an Outward Bound Adult Renewal class such as Blue Ridge Mountains Backpacking and Rock Climbing.
- Pick up a magazine in a subject area that you never had any interest in the past. Read it cover to cover.
- Start attending Toastmaster meetings and set a goal to become Able Toastmaster (ATM) in two years.
- Moonlighting for 10 hours each week at a job that you’re truly passionate about. You might earn no or very little money, but you’ll find the experience energizing.
- Start blogging consistently for 30 days to share your thoughts, feeling, and insights with your friends and the public. You’ll be surprised by how much fun blogging will bring to you.
- Devote 90 days to go through the P90X workout program.
- Take a dream Vocation Vacation to learn to be an actor, an animation TV producer, a baker, a brew master, a Broadway director, etc.
- Go to live and work abroad.
- Take a Tango class.
- Learn to play an instrument.
- Take classes to become a paramedic.
The list goes on and on. But, the key message is that instead of repeating the same old stuff, it’s up to you to inject energy, excitement, and fulfillment into your own life and career.
Friends: Life is too short. Live your life fully.
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Tags: Work/Life Balance
February 1st, 2010 by GeekMBA360
A lot of people go through their lives without knowing what they want. I used to be that way myself. As I wrote in your relationship with your parents have a lot to do with your career success, around the time I graduated from college, I came to the painful realization that I didn’t know what I wanted. I didn’t know how to decide for myself.
Over the past decade, I have become much better in figuring out what I want. A critical lesson I learned is the importance of defining my Non-Negotiables for personal and professional situations.
Let me share with you a story.
In 2002, right after I was laid off from a start-up, I decided to apply business school. It wasn’t the best time to apply business school as I was unemployed, and the number of applications were shooting through the roof.
However, I also knew that I needed to have clear reasons to attend business schools. Otherwise, I would be wasting a lot of money and getting very little in return. In other words, I needed to know what I wanted to get out of business school.
After thinking through my situation, I defined a few Non-Negotiables — these were things that I would absolutely not compromise.
- I would only attend a business school outside of the Silicon Valley. Although the bay area has two of the best MBA programs, I knew that I needed to get out of my comfort zone, and study and live in a different geographical area.
- I had worked in enterprise software for several years. I didn’t feel fulfilled. I wanted to work on product and services to make people’s lives better. I wanted to work on something that my family and friends would use. So, post MBA school, I wanted to work in consumer product or service. I would not return to the lucrative enterprise software space.
- I was a technical person my whole life. The key area of development for me was soft skills. I wanted to attend a school that had a track record for teaching soft skills.
- The two-year in business school would be mostly likely my last chance to enroll in school for an extended period of time. I wanted to focus on learning and enjoy the student life style. I didn’t want to have any financial concerns.
It’s debatable whether all of my Non-Negotiables were right — everyone’s situation is different. For me, at that point of time, they were the right ones.
I stuck to my list of Non-Negotiables.
Unlike most applicants who applied several schools, I only applied two schools because only those two schools fit all of my criteria. I was extremely focused on these two applications because they were my only chances. I ended up getting into both schools with average academic record and professional experience.
I had a hard time to find an internship and a full-time job. During the recession, companies wanted to hire people with experience. It was incredibly difficult for me to get a job in a consumer product or service company. I was among a small group of students who didn’t have a job at time of graduation. At that time, several enterprise software companies were very interested in me. But, I decided not to interview with any of them. It was not easy — when most of my classmates were travelling around to enjoy their time before starting new jobs, I was still working my tail off to look for a job. I remembered one MBA friend said to me: "I cannot believe that you’re still looking for a job". He was about to start his job at an investment bank.
Again, I stuck to my Non-Negotiables. Three months after graduation, I had three job offers in my hands. All of them were in consumer internet space. This experience gave me tremendous amount of confidence — it doesn’t matter how grim the situation is, I know that I can stick to my guns and prevail.
To make sure that I didn’t need to worry about money matters during business school, I took out maximum amount of student loans. I had some savings and could have borrowed less. But, I wanted to fully enjoy my two years in school without worrying about finances. During these two years, I lived in Europe for one month. I traveled to nine national parks in eleven states. I skied in Whistler. I drove around Florida. I took short trips to LA, Seattle, and New York City. I never regret the money I spent on those trips. I ended up with a sizable amount of loan to pay back. But, I don’t mind at all. For the next 15 to 20 years, with kids and family, I will not have the time and luxury to travel to these many places.
To stick to my Non-Negotiables, I have to make trade offs. Instead of applying more schools to give me better chance to get into a school, I had to be very focused and work extra hard to get into the two schools I applied. To get my desired job in consumer product, I had to keep fighting until the end to get a job offer. To do all of the fun travels, I had to borrow more money. But, having the set of Non-Negotiables gave me clarity. They guided my decisions.
You can have many different type of Non-Negotiables. Some are personal. Some are professionals. Some are long term. Some are short term.
I want to challenge you to think about your Non-Negotiables:
- What are your Non-Negotiables when you’re looking for your next job?
- What are your Non-Negotiables when you’re managing others?
- What are your Non-Negotiables when you’re teaching your kids?
- What are your Non-Negotiables when you’re looking for someone to marry?
- What are your Non-Negotiables when you’re dealing with unethical situations at work?
- What are you Non-Negotiables when you’re buying a car?
Different situation calls for different set of Non-Negotiables. I encourage you to go through this process. It’ll give more clarity and determination to carry through.
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Tags: Learning and Growing · MBA
January 30th, 2010 by GeekMBA360
I’ve been a loyal customer and a fan of Toyota for a long time.
I’m not a car enthusiast. When I buy a car, all I need is a safe and reliable vehicle that can move me from point A to point B.
I’m not the most mechanical inclined person. I don’t like to do work on my car. All I want is to bring the car in for periodic maintenance. I want a worry-free, reliable car.
Toyota fits the bill. Eighteen months ago, when we needed a mini van, we got a Toyota Sienna. It is not sexy to drive a mini van around, but when it’s time to change diapers while we’re out or go on a long road trip with extended family, you cannot beat the space and convenience of a mini van.
For the past two weeks, I have been shopping for a commuter car. On January 20, 2010, after visiting several dealerships, I made up my mind to purchase another Toyota vehicle. I didn’t make the purchase because I wanted to wait until the end of month, which should put me in a better position to negotiate with the dealer.
I was lucky that I didn’t pull the trigger. On the next day, Thursday, January 21, 2010, Toyota announced the recall of 2.3 million Toyota vehicles.
The situation got even more serious and confusing this week as Toyota announced that it was temporarily suspending sales of selected vehicles and it was extending the recall to Europe and China.
I have decided that I will not buy a Toyota car this time around. I don’t know if my thinking is representative of a typical Toyota consumer psychology, but let me share with you my rationales for not buying Toyota.
First, Toyota lost my trust.
When Toyota announced its recall last year, I didn’t take it seriously. I thought it was blown out of proportion by the media. But, the most recent recall surprised me. It made me think that Toyota did not get into the bottom of the issue last year. Even now I still don’t feel that Toyota’s management has a good handle on the situation. Just looked at their announcements in the past week. They first announced the recall of vehicles in the U.S. They then suspended sales in the U.S. They then added vehicles in Europe and China to the recall list. I don’t feel that they have done all of the homework and come up with a thorough, well-prepared plan to address the issues. They were making up plans as they investigated the problem.
Toyota just announced today that they have a remedy. But, as a consumer, my question is: "Will the fix work?" Given the series of recent events, Toyota has to prove to the public that it has gotten into the bottom of the issue. It must re-establish trust with its customers. Only time will tell.
Second, there are plenty of alternative products in the market. Honda’s reputation is as good as Toyota’s. GM and Ford are making good commuter cars. Hyundai and Kia have done very well in the North America market. I don’t have to buy Toyota. The switching cost is very low — I’ll lose very little by switching to another brand.
Third, at least in my household, my wife calls the shot for big purchase. She has told me that we will not buy a Toyota. Women’s role is incredibly important in the auto purchase decision process. It was funny that I was chatting with a Toyota sales person a couple of weeks ago. He told me that he estimated over 75% of the cars he sold were decided or heavily influenced by women.
Toyota’s belling selling car is Camry, which is a family sedan. Who is the key influencer in purchasing family sedans? Women. That’s why I think Toyota has dug itself a deep hole in the marketplace.
I browsed a Toyota message board on Edmunds.com recently. One guy was talking about his dilemma after the recall. He recently bought his wife a brand new Toyota Avalon. But, his wife basically told him that there was no way that she would continue to drive the car. He had to get rid of it. This might be an extreme case, but it showed female auto consumers’ preference for safety, and aversion toward uncertainty.
Will you still buy a Toyota car?
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Tags: Company Analysis · Personal Finance
