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How to encourage your children’s entrepreneurship

(EDITORIAL) To encourage the entrepreneurial spirit within our girls we, like many parents, focus on providing them with direct evidence that they can do and be anything they want (excepting the six year old, who currently wants to be a cat).

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More than fun and games

When I walk in the door most days, the routine’s predictable. Drop my briefcase, check the mail, and by this point I’ve received an invitation to go to my daughters’ store. What’s for sale invariably changes from day-to-day — sometimes it’s a pet store, or a bespoke clothier, or a coffee shop — but I’m always amazed at the level of thinking about multiple aspects of business ownership that they put into their play.

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For example, I’m typically offered coupons and combination deals on whatever my purchases might be, which means that we get to have rich conversations about the purpose of such incentives and how they affect both customer perception of their brand and their profit margin.

Fun and games and challenges

Now, as they’re both under ten years old, many of these conversations don’t cause their games to stop for an introductory economics lesson, but I want them to keep these discussions in mind as their play expands. The world in which they’re growing up is a very different place from that which their parents did, and the possibilities they can embrace literally did not exist a generation ago.

So, too, the challenges that they’ll face. While the number of career fields and the jobs within them that are fully accessible to women are growing exponentially, the globalization of the economy and the shift towards a gig workforce means that they’ll have to compete against not only the remnants of outdated gender expectations, but also considerably larger numbers of people to do so, and with less stability in their career paths once they arrive.

Pushing the limits

To encourage the entrepreneurial spirit within our girls we, like many parents, focus on providing them with direct evidence that they can do and be anything they want (excepting the six year old, who currently wants to be a cat).

It’s been well said that what one can see, one can be. A 2012 MIT report found that in Indian villages where women held positions of responsibility and authority in local government, levels of aspiration and access to education rose by 25 percent and 4 percent, respectively. The amount of hours they had to devote to completing domestic chores dropped by nearly 25 percent.

It’s important to us to have our daughters see successful women in all walks of life to let them know that they are limited only in their passions and imagination, and should never settle for anything that they don’t want.

It’s also important for us to show them examples of young entrepreneurship whenever possible as well. In a 2015 analysis of Federal Reserve Bank data, the Wall Street Journal found that the percentage of adults under the age of 30 who had ownership stakes in private companies had fallen 70 per cent over the past 24 years. This illustrates the myth of the swashbuckling 20-something entrepreneur, along with the underlying challenges to business ownership.

By being realists about the challenges as well as idealistic about the possibilities, we want to keep alive the spirit that makes them excited to open a combination fish store and haberdashery in their playroom today, with the anticipation of changing the world through their professional passions tomorrow.

#Entrepreneurship

Roger is a Staff Writer at The American Genius and holds two Master's degrees, one in Education Leadership and another in Leadership Studies. In his spare time away from researching leadership retention and communication styles, he loves to watch baseball, especially the Red Sox!

Opinion Editorials

How I combat being burned out as a remote worker

(EDITORIAL) Being a remote worker is wonderful because I can dress down, but burn out can happen faster than in a traditional setting.

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Don’t get me wrong – working from home is great. However, like anything else, there are cons to working from the comfort of your humble abode.

The biggest struggle I have with remote working is being by myself for eight hours a day, then finishing out my day in the exact same place – my house. This is why I’ve started to branch out from the kitchen table and try a few public places.

I’ll go to local coffee shops or the library, which is convenient for knocking out work while still close to home. Still, this comes with the remote working con of working alone.

Being out in an environment (especially one that’s different from your usual surroundings) is incredibly helpful for sparking creativity and productivity. What’s even better is when you find a spot with likeminded people that you can work alongside.

This is what I’ve learned since starting to work at Chicago’s largest incubator, 2112, Inc. I’ve been immersed in a land of creative thinkers which has brought on interesting conversation and great networking opportunities.

A coworking space is the perfect solution for someone who needs things happening around them to ignite productivity. This can also be a solution for combatting remote work burnout.

When working from home for days on end, it has a way of putting me into a routinized funk that is hard to break free from. But, when utilizing a coworking space, it provides the benefits of giving me a place to go, keeping me from at home distractions, and the aforementioned ability to bounce ideas off of others.

Of course, you still run into distractions in a coworking space. For example, social conversation can eat at your day without you even noticing, which defeats the purpose of going for productivity.

To help avoid running into that again and again, get into the mindset of this is your office and you’re here to work. So, after settling in each morning, put pen to paper and determine what needs to be knocked out. Try and get a few things accomplished before getting up to get your morning coffee, where you will likely find conversation.

Remote work is great, but it can come with the distraction of becoming lenient with your workload. Find the best environment for you and don’t forget that, while you may not be being watched, you are still being counted on.

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Opinion Editorials

Who’s missing next to Zuckerberg as he testifies at the political circus?

(EDITORIAL) Facebook Founder, Mark Zuckerberg isn’t testifying because of web privacy violations, this is all a political opportunity with a dash of regulatory salivation thrown in.

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Cambridge Analytica. The name of this company has become synonymous with a breach of your privacy. Several years ago, the company took advantage of a loophole that gave them access to 50 million Facebook users’ information. The story is convoluted, but the entire timeline is laid out here so you can see this is about more than just your privacy.

Today, Facebook has begun alerting users if their info was used by Cambridge Analytica to politically target them without their direct consent. But there is no recourse other than the sheer knowledge that your info was used. How novel.

Facebook Founder, Mark Zuckerberg has headed to Capitol Hill to testify before Congress about this situation, which we all know will turn into a dog and pony show filled with political bluster from both sides as they use their time to lecture and stump, and maybe ask a semi-informed question or two.

Why is Zuckerberg on the hot seat alone? Because they’re the biggest visible fish in the sea, so Facebook will be made an example of. Their entire business model is to make money off of your information, and they’ve been pretty open about that since day one.

But Zuck didn’t set the tone, Eric Schmidt at Google did. And social media platforms have followed suit ever since.

Think about it – you know that Facebook collects the data you insert into their walled garden, but Google manufactured your tv, all of your phones, Gmail accounts, and your home assistant, and it’s obvious what they’re doing with all of that data as it is mined and consolidated in a much less obvious way than Facebook. And it’s strange that Google hasn’t come up in any of these talks of collusion, given the depth of their data and lax requirements of advertisers.

That takes us to the overreactions of today – you know that all of you deleting your Facebook accounts aren’t really deleting anything other than your access, right? Facebook still retains the rights to your photos, posts, and past activity. Just as Schmidt noted above as it pertains to Google.

So your information was used to be advertised to. Nothing new to see here. In fact, it’s not even new that Facebook data could be used politically. Although Facebook seemed to turn the other way when this information was being used, they’re certainly no political virgins – Carol Davidsen, director of data integration and media analytics for Obama for America, said Sunday on Twitter of Facebook, “They came to office in the days following election recruiting & were very candid that they allowed us to do things they wouldn’t have allowed someone else to do because they were on our side.”

So it’s not new that Facebook allows third parties to use your data. It’s also not new that the data is openly used for political targeting. So why is this call for Congressional hearings now that the toothpaste is so far out of the tube that it’s down the sink!?

Sadly, politics. Because this time it benefited someone that’s popular to hate. But the result will have nothing to do with politics at all.

People under 30 never lived a life with privacy and can tell you that they know it doesn’t exist – and if it’s gone, it’s still on a social media company’s servers somewhere. And if you take a quiz about what kind of bread you are, you know that your info is going to be used for something, because we all know that if you don’t pay for a product, YOU are the product (that’s an old line dating back eras). This is what politicians intend on legislating, good or bad.

Sure, Zuckerberg is the target of the hearings because of the Cambridge Analytica situation that benefited Trump instead of literally anyone else on the planet, but again, he’s flying solo because he’s the biggest fish in the social media sea.

And he should not be in the hot seat alone.

Jack Dorsey should be sitting next to him. Steve Huffman should be sitting next to him. Reid Hoffman should be sitting next to him. Eric Schmidt should be sitting right behind Sundar Pichai.

But it’s more than that. If Zuckerberg is on the hot seat, so should every company that ever uses your data without your direct consent or complete understanding. The politicians and talking heads are all dominating the airwaves right now screaming about privacy, and stomping around that it must be addressed (again, they’re over a decade late). So why not force the auto insurers that use your smartphone info, or health insurers that can use your smartphone activity to indicate your activity levels (and duh, insurability). Why not the fitness apps that report user locations to the public, accidentally unveiling secret military bases? Why not television manufacturers for using data above and beyond what cable knows (like app usage), selling that info to the highest bidders?

Try to tell me this is about privacy. It’s not. So let me tell you where this is going.

Zuckerberg’s flamboyant “let them eat cake” attitude is something the tech world is used to, but politicians are not. What’s at stake is the very nature of Facebook. What are they? How can politicians regulate them? How can they protect users based on the marginal information they kind of understand and kind of don’t?

The bottom line is that they’re asking if Facebook is a media company, a moniker they’ve brushed off for years. That’s where this is going. And they are a media company. Because they are, but are not legislated as one, politicians have set a trap for ol’ Zuck.

And he shouldn’t be alone testifying. He should have a litany of counterparts at various social media companies up there. But their first step is to pin him with being a media company so they can simply regulate the rest.

We’ve cheered on and red flagged both sides of the social media boom since before it began, but watching people not in tune with technology fumble over regulating it is simply bad for business.

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Opinion Editorials

How top performers work smarter, not harder

(EDITORIAL) People at the top of their game work less, but with more focus – learn how to replicate their good habits to get ahead.

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Practice, practice and more practice will get you to be more competent in what you do, but working smarter isn’t always about competency, at least in business. Productivity expert, Morten T. Hansen’s studies indicate that multitasking is detrimental to working smarter. But it’s only half of the problem.

Hansen discovered that the top performers did not try to do thousands of things at a time. He’s not the only one.

Earl Miller, an MIT neuroscientist outlines why humans cannot multitask. As he puts it, “our brains… delude us into thinking we can do more.” But this is an illusion. When we interrupt the creative process, it takes time to get refocused to be creative and innovative. It’s better to focus on one project for a set amount of time, take a break, then get started on another project.

Hansen also found in his research that the top performers focused on fewer goals. He recommends cutting everything in the day that isn’t producing value. As a small business owner, you have to look at which tasks bring in the most profit. This might mean that you outsource the bookkeeping that takes you hours or give up being on a committee at the Chamber of Commerce that is taking too much time away from your business.

Taking on less work will help you work smarter, but Hansen found that it goes hand-in-hand with obsessing over what you do have to do.

When you have fewer burning fires, you can dedicate your time to these tasks to create quality work. According to Hansen, this one thing took middle performers at the 50th percentile and put them into the 75th percentile. When someone is competent in writing reports, for example, and can focus their energy into that, the work is much better.

Top performers also take breaks to rest their brains. One of my favorite analogies is the one where a lumberjack is given a stack of wood that needs to be cut down. He starts with a sharp ax, but over time, as the ax gets dull it becomes harder to chop the wood. By taking a break and sharpening the ax, more gets accomplished with less effort.

Your brain is like that ax. It works great when you first get to work. You’re excited to get started. In a couple of hours, your brain needs a break. Go outside and take a walk. Get away from your desk. Do something different for 15 minutes. When you come back, you should feel like you have a second jolt of energy to take on tasks until you break for lunch. Science backs the need for breaks during the day.

By taking breaks, obsessing over what you have to do, and laser focusing on fewer goals, you’ll be outperforming your competitors (and even coworkers). Work smarter, not harder.

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