Management

I read an interesting op-ed this week on women in the workplace. Some may be familiar with frequent Forbes contributor Tim Worstall. He’s written several contrarian pieces in his time (mostly in the tech space) with topics ranging from the pronounced death of Facebook to a potential Apple boycott. His flavor of this week however, is a discussion on whether women in the workplace “can have it all”. His conclusion: they can most certainly not.

Tim’s most recent piece discusses Monday’s news that 37-year old Marissa Mayer, former Google executive, will join Yahoo! as its new CEO (and one of a small club of female CEOs running Fortune 500 companies).  While there have been plenty of articles out this week exploring Mayer’s background and what this means for the company, Tim chooses to focus in on another aspect...Mayer’s baby bump. It was reported by several sources that Mayer disclosed her pregnancy to Yahoo’s board in June before her hire was made official. In her opinion, her pregnancy will have no effect on her position as CEO. In Tim’s opinion, it most certainly will. Mayer has stated she will only take a few weeks of maternity leave and be back in the office to tend to her new role. Tim – and many others I am sure – seem to think Mayer is unfit to make this call, being a first time mother let alone a first time CEO.

Tim’s article continues as a lament on the unfortunate fact that by our very nature, women, must always chose between work and motherhood. He thinks that one, undoubtedly, will take precedence.  He also details that while most have considered the “glass ceiling” to have been shattered and women to have the same pay opportunities that men do, mothers are an exception to this new rule. Of a similar note, Forbes reported earlier this year that women who keep their maiden names may do so for branding purposes and other studies indicated that by keeping their last name women actually have the potential to earn more than women who take their husband’s last name after marriage. Whether we agree with these ideas or not, this brings up an interesting argument.

Will women always be viewed as unequal to men in the work force simply by the very nature of our sex?
I’ll leave it up for discussion, but before I do so, it may be interesting to also consider the parallels between raising a child and leading a multi-billion dollar company. WSJ recently reported Mayer’s not the first one to raise a child and profits at the same time.

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In his book Great by Choice, Jim Collins talks about "good luck” and “bad luck” moments.  All individuals and companies have them, but great leaders know how to max out a good luck moment and how to take a bad luck moment and transform it.

Our good luck/bad luck moment came as a result of a “happy problem.” Over time, our business has grown in the U.S. and internationally.  Forty percent of our clients engage us inside and outside the U.S. and 20 percent are non-U.S.-based clients. We needed a name we could own around the world. When we found out CJP was not available in all the places we do business, it seemed like a bad luck moment.

So with inspiration by Collins, we decided to take this bad luck moment and make it a good luck moment. Renaming the firm (along with a new logo, website and visual identity) gave us a great opportunity to scream loudly about who we are, why we’re different and why we’re growing.

Preparing for this good luck moment took us a whole year as we decided to treat ourselves like a client.  We engaged in internal and external research, we considered our SEO and digital strategy, and we contemplated all kinds of names and identities.  And in the end, the answer was under our nose.  CJP would become ProsekPartners.

So today, Friday the 13th, we look to maximize this good luck moment and to thank our clients, friends and our "Army of Entrepreneurs" for making the firm what it is today, and what it will be tomorrow.  The date seems fitting, as we are out to prove - as Collins believes - that a bad luck moment can sometimes be a good luck moment in disguise. End of Story

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In an article by Jim Collins (of Good to Great fame) published in The New York Times this weekend, I learned about ROL or "Return on Luck." What an incredibly interesting concept!  ROL quantifies how people maximize "luck events" in their lives. We all have luck events (and the opposite).

Collins notes:

What's Your Return on Luck? (Marc Phares/Epic Studios)

"Getting a high ROL requires throwing yourself at the luck event with ferocious intensity, disrupting your life and not letting up. Bill Gates didn't just get a lucky break and cash in his chips. He kept pushing, driving, working - and sustained that effort for more than two decades. That's not luck - that's return on luck… After finishing our luck analysis for the book "Great by Choice," we realized that getting a high ROL required a new mental muscle. There are smart decisions and wise decisions. And one form of wisdom is the ability to judge when to let luck disrupt our plans. Not all time in life is equal. The question is, when the unequal moment comes, do we recognize it, or just let it slip? But, just as important, do we have the fanatic, obsessive discipline to keep marching, to push the opportunity to the extreme, to make the most of the chances we're given??"

This article spoke to me as I am a firm believer that in many ways we make our own luck. Hard workers, the ones who are willing to do the things others are unwilling to do, always do better. The question is whether there will be a luck moment in our lives big enough to rival those of say Bill Gates or Oprah Winfrey, and whether we will recognize it and do what it takes to maximize it. Interesting concept indeed!  I'm running out to buy the book now! (Great by Choice: Uncertainty, Chaos, and Luck - Why Some Thrive Despite Them All by Jim Collins and Morten T. Hansen). CJP

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Glass CeilingWorking within an entrepreneurial company with few rules is sometimes more of a privilege than you realize. I often say, I’m living in the “CJP Bubble”; a place that I’ve created, alongside my colleagues, to be a work environment that we enjoy coming to everyday and one where we are unfettered by the rules and norms of the outside world.

The Wall Street Journal’s recent story about Sallie Krawcheck’s departure from Bank of America (BAC) reminded me of how much I love living in the this bubble. The story (linked above) was about the age-old issue of the glass ceiling for women and how it’s just not getting better on Wall Street. According to Catalyst, less than 20% of finance industry executives are women despite the fact that 47% of the US workforce is female.

At CJP, the majority of our clients are Wall Street firms, or at least linked to financial services in some way. Despite this I can say with confidence and happiness that as a woman running a company that deals with The Street, I seldom feel limited. In fact, I feel empowered. Why? Well, one reason might be that our Wall Street clients clearly respect and value of women in business (or they would likely not deal with our firm). For that reason, there is a natural selection in place (am I saying that CJP’s client are among the most open minded and evolved? You’re damn straight I am!).

Read the rest of this entry »

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The Corner OfficeThere have been so many leadership books and articles, but this weekend’s New York Times article “Distilling the Wisdom of CEO’s” was among the best I’ve read.  In one read, you can learn about the traits that get CEOs to the top; they include:

  • Passionate curiosity;
  • Battle-hardened confidence;
  • Team smarts;
  • A simple mindset; and
  • Fearlessness

I couldn’t agree more with this article.  We might not all achieve CEO-dom in our lives; many of us don’t even want to. But to be more effective in our careers it would behoove us to understand what gets us to the corner office.

The article can be read here and I hope that when my colleagues read it, they see some of these qualities in me. CJP

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No Comments » Written on April 18th, 2011 by
Categories: Leadership, Management
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