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#Leadership : How We Survived Getting Sued in Our First Year of Business…When People Talk about Running or Starting a Business, Oftentimes they’ll say Something Like, “We Need to be Careful, so we Don’t get Sued.” But, Deep Down, they Don’t Foresee that ever Happening; and, Unfortunately, It does Happen. A Lot.

July 28, 2016/in First Sun Blog/by First Sun Team

Battling a lawsuit is hard work, but it is possible for a small business to fight and survive. Doing so will require planning, cool heads and a legal team that is the right fit for your business. With those factors in place, your business will be in a position to not only survive, but to thrive moving forward.

When people talk about starting a business, oftentimes they’ll say something like, “We need to be careful, so we don’t get sued.” But, deep down, they don’t foresee that ever happening; and, unfortunately, it does happen. A lot.

I know, because in my first year of starting a business, which I thankfully still own, we were sued by a company with deep pockets, years of experience and two high-end law firms on retainer.

And, back in those days, all we had to call our own were a sub-lease and a handful of employees.

Overall, it was a terrifying and expensive process, but our company survived. We made some mistakes, but we also got some things right, and today, looking back, I realize that the whole process would have been easier had I known some of the key insights that I’m now prepared to share about my first — and, hopefully, last — lawsuit.

How it happened.

Zilker Ventures was the initial name of the company I launched. But it was totally restructured in the wake of the lawsuit: We retained our entities, Zilker Ventures, LLC, and ChooseWhat.com, LLC, keeping Zilker as the top-level holding company for ChooseWhat, which in turn owns five other entities, each with its own website project.

All these efforts date back to 2007, in Austin, Texas, when our goal was to create a Consumer Reports-style resource for entrepreneurs through a series of websites. Our first website went live in early 2008, and saw immediate success, so we went on to launch two more that same year.

Then, in late 2008, our troubles began: Zilker received letters alleging we were violating a trademark with one of our websites, FaxCompare.com. The core of the dispute was that we were using a word that the plaintiff had trademarked to describe a general service type in addition to its brand name. We were also bidding on that word via Adwords and Bing.

The plaintiff alleged several other complaints — including unfair marketing practices — and eventually added patent infringement to the list. We disputed that any violation had occurred, and hoped the letters were simply a threatening tactic. Unfortunately, they were not.

In late 2008, Zilker received letters alleging we were violating a trademark with one of our websites, FaxCompare.com. The core of the dispute was that we were using a word that the plaintiff had trademarked to describe a general service type in addition to its brand name. We were also bidding on that word via Adwords and Bing.

However, the plaintiff alleged several other complaints — including unfair marketing practices — and eventually added patent infringement to the list. We disputed that any violation had occurred, and hoped the letters were simply a threatening tactic. Unfortunately, they were not.

And, eventually more letters arrived, notifying us that we were indeed being sued. To call this scary is an understatement; that’s why we initially looked into finding a fast way to settle and move on. But it became clear that going the settlement route would ruin our business.

My partner at the time, Gaines Kilpatrick, and I believed that we had done nothing wrong and that we had a case, even though we would be going against a company with more resources than we had.

We also knew that because we were young, we didn’t want to handcuff ourselves to a one-sided agreement that would impact our ability to grow the way we wanted to. So, we decided to risk losing the whole thing rather than be hamstrung from the start.

After all, we didn’t have much to lose.

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First steps

Our first step was to find a lawyer who specialized in online trademark disputes but wouldn’t bill for endless hours. We found the right fit through an industry contact. There were a few factors that madeTraverse Legal right for the company: its up-front quote for the work that needed to be done; expertise in the legal area in which we were involved; and access to the technology that would help us efficiently share information between our base in Austin and that of the firm, in faraway Traverse City, Michigan.

Our lawyer laid out all the relevant information from the legal perspective, and, using Basecamp, updated our project as the case moved forward, so that we could see what the firm was working on. That visibility was extremely helpful.

Even with clear communications, however, the legal process moved slowly, taking almost a year in the end — during which we couldn’t afford to stop running our business. We needed an operational plan so that Zilker wouldn’t languish while we worked through the lawsuit.

We responded by having my partner focus on the lawsuit, while I focused on the business. That decision helped keep Zilker from floundering, although we still needed all hands on deck for responding to time-sensitive discovery requests.

That was one of the biggest challenges for us. But it was critical for us, as the smaller company in the lawsuit, to keep the judge from postponing our trial date. We had fewer resources than our opponent and knew we couldn’t afford to let the process drag on.

In the end, our perseverance paid off. As the court date approached, we were able to reach a settlement (the terms of which I’m not legally free to disclose). The settlement set up a deal that worked for both parties; we both got what we needed to move forward with our respective businesses.

My advice, should you find yourself in a lawsuit

While our company made it through the process, one of the most time-consuming and worrisome parts was those overwhelming discovery requests. We had never been through this process before, and had no idea how to efficiently produce the documents that were required by the court.

Even at that early stage, our company ended up having to search, review, properly mark and reproduce hundreds of thousands of pages of material. We were going up against a much larger legal team that could process information incredibly fast, and any mistakes were noticed immediately and reported to the court.

In hindsight, I wish that we had developed a process to help streamline production of those documents. For our emails, I would have submitted to the plaintiff, and requested approval for, a list of keyword searches that we would run through our email clients (Outlook and Google Apps), as well as the format by which we would produce the emails before actually doing the work. I would have done the same for our server and each of our company’s computers.

Lessons, learned the hard way

A lawsuit is scary and costly, but we came out of ours with some important lessons learned:

Map out a plan. If you too get caught in a lawsuit, mapping out a plan to help keep your business on top of the court deadlines and discovery requests and understanding the biggest costs up-front will save you time and prevent nasty financial surprises.

Don’t rush to settle.The first was to stick to our position and be prepared to fight all the way to court. We made a mistake early on in seeking a settlement too early in the process, and the opposing party took advantage of that.

When you’re in a lawsuit, the whole process is a negotiation until you go to court; our premature desire to settle gave the opposing party leverage and a major negotiating advantage. Fortunately, we made that mistake only once, and were eventually able to maintain our position and gain a workable outcome.

Separate your projects into different business entities whenever possible. That way, a lawsuit against one doesn’t put everything at risk. Zilker’s websites were all connected and had no legal insulation from one another when the lawsuit hit, which meant they were all affected by the process.

Keep hold of your emotions. While it’s hard not to worry when you’re being sued, another piece of advice is to try not to let emotions get the better of you. There are serious lows to the process, and hopefully some highs, too. But the pendulum swings fast, and if you’re trying to keep a business going, it’s best not to let any of the highs and lows impact you too much.

Don’t burn your bridges. Finally, if the outcome is a settlement, you should come up with a policy for working with the opposing party in the future. Chances are, you might have to continue dealing with that company — or at least co-exist in the same industry — so, if at all possible, try to set yourself up for a healthier working relationship.

Battling a lawsuit is hard work, but it is possible for a small business to fight and survive. Doing so will require planning, cool heads and a legal team that is the right fit for your business. With those factors in place, your business will be in a position to not only survive, but to thrive moving forward.

Entrepreneur.com | July 28, 2016 | Leo Welder

Your #Career : 11 Mistakes Standing Between You and Your First Million (4 min read)…Becoming a Millionaire isn’t as Far-Fetched as You would Believe. With Dedication, Patience and Focus, Becoming a Millionaire is Completely Obtainable. If I can Do It, Anyone Can.

July 27, 2016/in First Sun Blog/by First Sun Team

I’ve been a millionaire three separate times in my life. The first time I saw $1,000,000 in my bank account, I almost fainted. Even though I knew it was hitting my account, it still caught me off guard.

Becoming a millionaire isn’t as far-fetched as you would believe. With dedication, patience and focus, becoming a millionaire is completely obtainable. If I can do it, anyone can.

The hardest part? Actually reaching your first million. After that, everything else falls in place. But why is it so difficult to reach your first million? I find that most people are pretty close, but hold themselves back with the following mentalities:

1. You’re not thinking the right way.
As Napoleon Hill discovered in his landmark 1937 book “Think and Grow Rich,” wealthy individuals think differently than the average person. After interviewing 1,200 of the wealthiest individuals in the world, self-made millionaire Steve Siebold agrees with Hill’s findings. They include:

The rich believe poverty is the root of all evil.
Selfish can be a virtue.
They have an action mentality.
The rich acquire specific knowledge.
They dream about the future.
They follow their passion.
The rich enjoy challenges.
They use other people’s money.
Millionaires focus on earning, not saving.
They know when to take risks.
In short, if you want to become a millionaire, start changing the way you think about money and success.

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2. Being too concerned about perfection.
Here’s one of the most important and valuable lessons I’ve learned in life — nothing is perfect. The sooner you accept that, the sooner you can move forward, instead of being stuck in one place.

If you’re starting a business, the more time you spend perfecting your product or service, the more time your competitors have to tap into your market and take away potential customers. Don’t hesitate to experiment. Get to market as soon as you can. You can always work out the kinks later while you’re still making a profit.

3. Spending everything you make.
You just received a fat six-figure check. It’s tempting to go out and buy a luxury car. The thing is, wealthy people know how to live below their means, as opposed to spending everything that they just made. Many wealthy people, like Warren Buffett, live in modest homes and drive practical cars.

As Dale Carnegie once said, “Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.”

4. Setting unrealistic expectations.
While the wealthy definitely dream big, they also set realistic expectations. They’re well aware that they’re not going to become millionaires overnight. It takes a lot of hard work and patience to achieve their goals.

As any marathon runner will tell you, you can’t expect to run 26 miles without the proper training and conditioning. Review the progress you’ve already made and where you’re headed.

5. Following others blindly.
It can be incredibly beneficial to seek mentors or read words of wisdom from those who have struck it rich. The thing is, what worked for them may not work for you. For example, launching a company like Apple or Microsoft may not work today. So, following how Jobs and Gates became successful step-by-step isn’t going to help your subscription-based cleaning service.

Understand what works for you and your business and how you can be successful in that industry.

6. Relying too much on plastic.
Credit cards can be useful if you need to build your credit or invest in your business — as long as you’re smart with how you use them. It’s incredibly easy to get yourself into credit card debt. That means that instead of making wise investments or putting money into your business, you’re busy paying off your credit card bills with those high interest rates.

7. Plan for the long run.
The wealthy have a knack for always looking and planning for the future. They know where they want to go and what it will take for them to achieve success. This allows them to anticipate any obstacles and have a plan in place to handle those challenges.

If you are starting a new business venture, you need to have a long-term plan that addresses how to attract and retain clients and customers and outlines how you’re different from the competition.

8. Spending time with the wrong people.
The rich don’t waste their time by associating with the wrong crowd. I’m talking about the naysayers and negative people who keep telling you that you can’t achieve your dreams, or the people who are using your success to their advantage.

Instead, the rich spend time with like-minded people who are driven, passionate and are thinking about how amazing their future is going to be. They are always building their brand.

9. Doing everything yourself.
Despite wearing multiple hats and being a jack-of-all trades, it’s impossible to do everything on your own. Let’s say that you just launched a startup. You need to hire talented individuals who enhance your strengths and pick-up the slack in your weaker areas.

Related: The 4 Golden Rules of Millionaire Time Management

Learn how to outsource and delegate the tasks that you’re not familiar with or aren’t as strong in. This is one the secrets that entrepreneurs rarely tell you, but it’s essential if you want your business to grow.

10. Not being in the right place at the right time.
Whether it’s making an investment or starting a business, timing and location is everything.

Take Ryan Graves, for example. He simply tweeted “hire me : )” to Travis Kalanick in 2010. Graves became Uber’s first employee, then the company’s head of global operations. He’s estimated to have $1.4 billion in equity.

Instead of daydreaming, seize the opportunities that are right in front of you.

11. You don’t believe in yourself.
What’s the biggest thing holding you back from becoming successful? It’s probably the fact that you don’t believe in yourself. Instead of second-guessing every move you make, trust your gut and go with your intuition instead of waiting for insights from those around you.

As Dale Carnegie once said, “Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.”

Entrepreneur.com | July 27, 2016 | John Rampton

#Leadership : Why You Should Hire People With ‘Slash Careers’…The “Slash Career” is all Rage with Millennials, and it’s Important for Employers to Pay Attention.

July 26, 2016/in First Sun Blog/by First Sun Team

You know what I’m talking about, right? “I’m a lawyer/writer.” “I work in marketing; I’m also a professional actor.” “I’m in tech, and I have photography business on the side.”

In the last ten years or so, these slash careers and side gigs have been on the rise, and many motivated millennials have realized that they can, indeed, have it all: A full-time “day job” they enjoy as well as a creative endeavor that brings them additional revenue.

So why is this important for business owners, the employers of these ”day jobs?”

Many traditional employers may have a negative reaction to slash careers. They’d assume that an employee won’t be as invested in their work if they only consider it a “day job.” They’d think that someone who has passions in other areas won’t be as valuable an employee.

And they’d be wrong.

Hear me out here. I speak from experience. Over a third of my team atVanderbloemen Search Group is made up of millennials with slash careers, including fitness instructors, calligraphers, actors, and photographers. And we have even more team members whose extracurricular pursuits don’t bring them additional revenue, but they invest a huge amount of time in them outside of work. One team member runs his own podcast. Another has a well-received blog. One is a three-time ironman. One is on the board of a charity. And let me tell you, these team members are worth their weight in gold.

Simply put, employees with side jobs are invaluable …. The next time you’re interviewing a candidate with pursuits outside of work, don’t write them off. You just might be interviewing your next rock star.

Here’s why employers should hire candidates with slash careers.

1. They are motivated and take initiative.

If your candidate has a side hustle, that means they are a passionate, hard-working motivated individual. They don’t come home from work and sit on the couch watching Netflix NFLX +4.00%, they continue to pour themselves into their other job. And these character traits transfer to every job they do. Looking for a team member who takes initiative and is a self-starter? Hire someone with a slash career.

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2. They have a diverse skill-set.

Employees with interests outside of work are well rounded, and well rounded individuals are valuable assets to any company. They can wear many hats, have diverse skills, and are often great problem-solvers. At my company, we place a huge value on agility and solution-side living, and my well-rounded team is always able to think outside the box, pivot on a moment’s notice, and bring a variety of perspectives to the table.

3. They are creatively fulfilled.

Rather than going home from work and singing, “Well I’m sure that I could be a movie star if I could get out of this place,” employees with side careers are creatively fulfilled. They aren’t miserable at work wishing they had pursued something else. And I don’t know about you, but I’ve seen that happy and fulfilled employees are often the hardest workers.

Their creativity spills out into your company.

At a company where brainstorming, innovation, improvement, and problem-solving are huge priorities, creativity is absolutely vital. If someone is creative in their endeavors outside of work, you better believe they will be creative in all their work for your business as well. I have a huge amount of team members who are involved in the arts or studied them in college – be it music, theater, or visual art – and I believe the creativity represented on our team is a huge part of the success we’ve had as a company.

Simply put, employees with side jobs are invaluable.

The next time you’re interviewing a candidate with pursuits outside of work, don’t write them off. You just might be interviewing your next rock star.

Forbes.com | July 26, 2016 | William Vanderbloemen

Your #Career : How To Make ‘I Just Got Fired’ Sound Better When You Interview…Interviewing when Fired is Strenuous, Because it Feels Like you Have to Justify yourself All the Time, But on the Plus Side, you’re Immediately Available, so That’s there’s That.

July 26, 2016/in First Sun Blog/by First Sun Team

Your answer should: #1- Be true….#2- Help you advance in the interview process (or at least not stop you). It’s very important to keep both of these things in mind. You should answer in a truthful way because it’s the right thing to do, but also because if your potential employer catches you lying before you even work for them it’s very unlikely you’d get the job. Yet, the goal of your answer is not to put you down, it’s the opposite. You want to leave a positive impression.

Another thing to keep in mind, even if less important than the two above, is to be concise. You really don’t want to spend your interview time talking about this. There is still a lot of latitude and what you should say depends on the circumstances and the employer. Perhaps nobody will ask you why you left your previous employer (just kidding, everyone will ask!).

You probably don’t have to disclose that you were fired. Assuming you’re in the US, and employed at will, you left your company. Perhaps you were unhappy there for a number of reasons that have nothing to do with your old boss. Perhaps the job you are applying for is better suited to what you really wanted to do. And sure: those reasons were not really the ones why you left, that’s fine, but as long as these reasons are true and sincere, you are leaving your interviewer with an explanation to a legitimate concern they had.

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You also may want to say that you have been fired. You and your boss didn’t agree on how to do your work. You didn’t have the same view on things, you were no longer aligned, she wanted to try a new approach which involved replacing you, which is her prerogative, and it’s actually a humbling / learning experience, etc. (there’s surely a great way to phrase it).

Here are two wrong ways to answer this question.

Appear confrontational or resentful towards your old company. Saying things like, “It was totally not my fault, so unfair, she keeps lying about me,” etc. sends all kinds of wrong signals.
Come up with an answer that is so obviously untrue that it will leave your interviewer convinced that you’re hiding something ugly, “Yeah, they fired me, but the weirdest thing is they never even said why. Crazy right?”

Interviewing when fired is strenuous, because it feels like you have to justify yourself all the time, but on the plus side, you’re immediately available, so that’s there’s that.

This question originally appeared on Quora. Ask a question, get a great answer. Learn from experts and access insider knowledge

How do I explain being fired to a potential employer? originally appeared on Quora: the knowledge sharing network where compelling questions are answered by people with unique insights.

Answer by Jérôme Cukier, software engineer, on Quora:

Forbes.com | July 25, 2016

Your #Career : Getting Fired Was Step 1 to Increasing My Pay 1,000% in 3 Months…”Gulp.” My Boss had just Told Me the Company was Going in a Different Direction when that Embarrassing Sound Squelched from my Throat.

July 26, 2016/in First Sun Blog/by First Sun Team

Though I had under $3,000 in savings and no immediate prospects, I wasn’t devastated. I was relieved.

Movie: Office Space

I’d been blogging for a premium men’s site for nearly a year. After writing four 800-word articles a day for months, I was burned out, bleary eyed and begging for the end. My heart had abandoned the work. I knew I wasn’t growing as a writer because my only challenge was to eek through the day without going cross-eyed.

I needed a wake-up call.

Luckily, I got canned. My newfound joblessness made me evaluate what I was doing. It forced me into action. Having stashed $3,000 in the bank, I had two months to plan and execute something better than churning out bad articles for peanuts, or I’d be homeless.

Here are three factors that shaped my plan.

I knew I couldn’t skimp out on quality to make a living because it had just gotten me fired. It also caused me to hate writing.
I refused to work with one-dimensional clients, who would sooner fire me than help me grow as a writer.
And I needed to work with real people in real life. The faceless business relationships had gotten me quick cash, but I still hadn’t found the security I needed to flourish as a writer. I wanted to be needed on a team where my growth was valued as much as my contributions.
Considering all this, I put a massive effort into getting the right clients and being the right writer. Here’s what I did.

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I looked for the right clients.
I spent four hours a day researching the best companies within 100 miles of my home in Albuquerque. I poured through different companies’ websites and marketing materials to see where I could be useful. When I found a good match, I’d spend a couple hours drafting the perfect proposal for how I could enhance their business.

Then I made a couple daily cold calls to the companies I really wanted to work for – to let them know I was serious. I also scoured the local newspapers to see which businesses were doing cool things I could feel good about supporting.

I improved as a writer.
Two months of expenses gave me a bit of breathing room but not enough to be comfortable. I knew I had to improve as a writer and make myself indispensable, or I’d be broke and begging for change. So I learned about my profession as if my life depended on it. It helped that my life actually depended on it.

When I wasn’t researching new companies and drafting new pitches, I was nose-deep in any writing book I could get my hands on, such as The Elements of Style and Sin and Syntax. When my eyes got too tired to read, I practiced what I learned writing for authority websites and random freelance gigs. I disciplined myself to spend four hours a day each on learning, writing and job hunting.

Far from getting burnt out, I got hungrier for success. Job hunting landed me interviews with some of the best companies in town, where I met with creative directors and marketing managers. They showed interest in my work, and it motivated me to keep pushing ahead.

Because I had put so much effort into improving as a writer and approaching new companies, I had faith that I’d land the right job.

If you’re looking for job security, a bigger paycheck and better opportunities, just remember the the most important word you’ll ever read: Quality.

I increased my pay.
At precisely the time my savings ran out, I was hired by a wellness company that I’d put days into researching and pitching.

The marketing manager and I were about the same age, and we liked each other. I was excited to be her go-to writer. The company brought me on for in-house copywriting and editing, which I had zero experience in. But, because of my portfolio, my dedication and the sincerity of my interviews, the company had faith in my ability to add value to their team.

I started writing articles at $450 per piece and editing at $45 an hour, which gave me time to put my best effort into the work. Sometimes I’d spend five hours writing and refining. Sometimes I’d spend seven. But I never submitted a piece that I wasn’t completely satisfied with.

Because I shifted my focus to quality, I wowed my colleagues and cemented myself as the writer who knew his craft. And instead of getting fired over the phone, I was asked to collaborate on bigger projects. I even was referred to other businesses in the community.

Today I earn 10 times more than I used to because I bring 10 times the value. And after devoting so much of my time to learning and improving, I’m confident in that value. So are the companies who hire me.

Here are 10 things I do differently now.
I constantly encourage myself, and challenge myself to become better.

I visualize the businesses I want to work with; how excited they are to work with me; how good it feels to be needed; and how accomplished I feel while writing my best.

I write and edit for several hours each day – no matter what.

I limit my use of social media, email and text messages, committing to hours of real work before checking any incoming information.

I read as much about writing as I write, and I read great authors to break down their style.

I never rush myself. For every article published I spend many hours over several weeks writing, revising, editing and polishing. I only submit work that increases my reputation.

I take care of my body through diet and exercise so that I have the energy to focus for hours on end.

I give myself time to detach completely from work and relax. I recharge by meditating, listening to classical music, going for walks and playing my favorite sports. If quality work means taking care of my personal needs for most of the day, then I just do less work.

I choose quality friends because I know they influence my behavior. So if I have a choice to be around complacent and underachieving people, or to be alone, I choose the latter. In the words of George Washington, “It is far better to be alone than to be in bad company.”

I journal. Every night I reflect on what I did, how well I did it, where I need to improve and what I can accomplish tomorrow.

I increased my pay by 1000 percent in three months by learning as much as I could, by disciplining myself to improve as a writer and by finding the employers who would invest in my best work. My quality of life skyrocketed along with my quality of work.

If you’re looking for job security, a bigger paycheck and better opportunities, just remember the the most important word you’ll ever read: Quality.

Entrepreneur.com | July 25, 2016 | Daniel Dowling

#Leadership : How to Stay in Control of your Meetings…Meetings. The Bane of Many of our Existence. They Suck Up Time and are Often Unproductive or Don’t Yield the Results we Expect.

July 25, 2016/in First Sun Blog/by First Sun Team

I want to talk about a specific type of meeting today — a Board Meeting — but this could easily apply more broadly. A find many board meetings highly unproductive in that they are often just a date in the calendar where management is set to update its investors and other board members of its performance over the past time period.
This is a total waste.

No board will know your business better than you do but if managed properly they should be the most informed people about your business than any full-time executive. And because they have the luxury of sitting across multiple boards they ought to be able to bring you a helicopter view of the decisions you need to make in your business.

If you have board members you respect you owe it to yourself to run more productive sessions where board members contribute. So here’s a short guide to achieving that.

What you Before Sets the Course for How Well the Day Goes

Make sure you send your financial and operating metrics no less than 72 hours before the board meeting — even better if it can be a week in advance.
Schedule calls with each board member prior to the board meeting. Walk them through the numbers, make sure they understand the key issues and ask their impressions. Make sure you ask if there are any strategic concerns or topics they want to discuss at the board meeting.
Fix an agenda for the meeting. Send it out 72 hours in advance. Since you’ve already walked through financial & operating metrics the board meeting ought to be the time to run through 2–3 big strategic issues the company faces.
This is your chance to tell board members what keeps you up at night and let them offer you input into what they would do. I would think a 2–3 hour meeting with 2–3 topics ought to do. If you’re slightly later stage it might be 5–6 hours.

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In a perfect world you’d know the issues you want to discuss well in advance and you’d prepare a deck to guide the discussion. It ought to lay out the key issues, provide 3 options per issue and state which one management is leaning toward. If you provide these slides in advance you give board members a chance to reflect and come prepared for a real discussion.

israel tech Mohamad Torokman/Reuters

The mistake most founders make is sending out last-minute board packs. Investors sit on many boards and have many other job tasks so often if you get a deck the day before and you’re in back-to-back meetings and a dinner you’re only likely to have a cursory look at the materials prior to meeting.

It may feel like a victory if you get through the board meeting unscathed and with few questions and mostly the board members feeling good. This is failure. It is a waste of what should be valuable resources to you and it is a failure on your part to push yourself to really think about the long-term issues you’re facing.

Still, this is how 70% of board meetings are run. And management is mostly grateful to have it over to “get back to focusing on the business.” These leaders are short-term tactically focused more than strategically minded and this is has consequences.

Optimizing Performance During the Meeting

If you nailed the pre-meeting work then the board came to the meeting fully knowledgeable about the agenda and thus the objectives of the meeting.

The following are the biggest mistakes I see founders make in board meetings:

Allowing board members to get in the weeds. Even the best intentioned board members sometimes ask very detailed questions out of curiosity or thinking they are helping and in effect take the meeting off course. A board meeting shouldn’t be the place an investor questions why you’re focused on customers A and not customers B. It shouldn’t be the place where they ask why you have 8 sales reps and not 6. These are tactics — not strategy. The best strategy is to let the board member ask his or her question, write it down, tell them it’s a good question and one you’re happy to spend time with them explaining after the meeting but that your goal for today is to address the bigger issue of X.
Allowing board members to bring up topics not on the agenda. If you don’t allow time for board members to give you agenda feedback in advance then they have the right to bring up topics you weren’t expecting. But if you have a pre-call and ask their issues in advance then you have the right to say, “That’s a good question. It’s not a topic we’ve prepared for today and nobody raised it in our pre calls. So I’d like to note it and we’ll either address it between meetings or bring it to the next board meeting.”
Not pushing for votes. Ultimately if you’re seeking for approval or board consensus on an action (getting approval for a budget, raising money, investing in CAPEX, firing a head of sales — whatever) your job is to hold a discussion in which all board members who want to voice an opinion can do so and ultimately pushing for a vote or a resolution. My preferred strategy is for you to shape the issue by saying, “Here is what we’re pushing for. Here are the alternatives we’ve considered. We’d like to get your input.” Now if you did your pre-meeting job you already know people’s views. I would start the conversation by asking somebody to weigh in. It’s not your job to debate every board member. If somebody takes an aggressive tone against your desired outcome you can rebut it or you can call on somebody on the board who shares your opinion and ask them to weigh in. Over time you’ll figure out who the most persuasive board members are and who backs down too easily. Control the discussion. Make sure people feel heard. And if you think you have the votes then it’s time to say, “Ok, I think we’ve heard everybody’s opinion on this topic. If it’s ok with you, I’d like to propose we put this to a vote. All those in favor of the budget we’ve outlined … (or all those in favor of the budget we’ve outlined with amendments to the cost-line offered by Bob).” The reason I point this out is that all too often decisions go round and round and run out the clock with no sense of moving towards a decision. Honestly, people hate making decisions. It’s your job to guide them there.
Not controlling the clock. A good number of board meetings don’t have somebody managing the clock. Let’s call them “the Andy Reid of board meetings.” It’s very common that low or mid impact issues are discussed at length at the start of the meetings and key issues are rushed in the final 20 minutes of a board meeting when people are tired or in a hurry to get to the next board meeting. It’s really hard to manage a meeting and manage the clock. When I run important meetings like my annual investor meetings I have my partner Stuart Lander watch the clock. He’s better at it than I am and it makes sure we don’t train valuable time and rush important stuff at the end.
Letting loud mouths control the discussion. It’s no secret the every board meeting has vocal people. If they’re constructive, knowledgeable and often right then you tend to let them do more talking than others. Still, meetings are best when you get multiple people’s opinions. And even worse is when the loud mouth isn’t the smartest guy in the room. My strategy is the let loud mouth get his or her say. And then politely say, “Listen. I think I’ve got the gist of your argument. It’s helpful. I’d like to just bring a few more people into the discussion to make sure we hear from everybody.” It’s disarming. It’s very hard for them to say, “No! I don’t want to hear from anybody else!” (even though that’s what they’re thinking). And then you should actually call on somebody and say, “Mary. What do you think? Do you think it would be a good idea to expand to more markets this year or are you feeling more cautious?” Here’s the reality. 90% of the people in meetings won’t shut up a loud mouth to they rule the day.
Allowing non board members too much of the floor. Many boards have observers on them. Sometimes it’s because you have strategic investors. Sometimes it’s because the VC brings associates to the meeting. Many of these people can be helpful. But for the most part observers should stay silent unless engaged because otherwise you find out that some board meetings have 14 people in them and become totally unproductive. If every board observer speaks as much as every board member then they really are … board members. This is because very little is ever formally voted on so if they have the same amount of floor time they might as well be board members. Or better yet, manage their expectations about how much they’re expected to voice an opinion at board meetings vs. “observe.”
Allowing mobile phones, iPads and computers to be used freely. We live in an attention-deprived world and people are their own worst enemies. I highly recommend a “no devices” policy. If this gives your investors angst then have 5 minutes every hour of device time. Literally stop the meeting, let everybody do their quick emails and then restart with no devices. Things have gotten so bad in recent years. It seems in most board meetings there’s always at least one member not really paying attention and then the group discussion / dynamic is lost. Trust me — if you get people to agree to this you’ll get way more productivity from the increase in concentration. If you run poor meetings by letting people talk too long then don’t be surprised if people push back against the no devices rule.
Don’t allow the remote body to control the tenor of the meeting. There are always times where one member needs to be on a web conference or telephone call due to travel conflicts. It is what it is — you have to accept that. But your priority in running the meeting has got to be to the people in the room. I’ve been to a number of meetings where everybody who traveled ended up having a sub-optimal experience to constantly make sure the remote person was engaged. And half the time you know they’re zoned out and checking email. That’s why I like web conference over telephone — it keeps people more honest. But either way the priority is the room. If you constantly compromise by repeating things to the half-paying-attention remote person — frankly that’s bullshit.

Finally, the best run meetings are the ones that happen before the meeting.

If you have important decisions to make know where each vote comes out before the actual meeting. That way you can make necessary compromises to win support or at least gather more data to overcome objections if you know about them in advance.
If some board members aren’t persuaded on a decision that you want made use board members who are on your side as proxies. Instruct them in advance that you may need them to advocate more loudly in the meeting. Your board allies also should be counted upon to deal with unruly or over-talkative board members.
If you do a board dinner do it the night of the meeting not the night before. When you have a board dinner the night before everybody talks about all of the key issues there so the actual board meeting feels perfunctory and people pay less attention.

I’m sure there’s more. But I’m out of time and you’re out of attention. Hope that helps a bit. No, I haven’t proof read or even read a second time. I’ll visit it again in the morning.

Businessinsider.com | July 25, 2016 | Mark Suster, Medium

#Leadership : 4 Mental Practices To Achieve Your Full Potential…Can you Begin to Live your Best Life Ever by Applying a Series of Simple Mental Techniques in your Day-to-Day Life ?

July 25, 2016/in First Sun Blog/by First Sun Team

Personally, I’ve been on an evolving journey when it comes to mindset strategies for success. In my twenties, I thought it was all hogwash and I just wanted to learn practical tactics—things to do. In my thirties, I began to realize the importance of slowing down and how the right psychology can lead to the right activities. Now in my forties, I’ve come to understand that the inner game is the true driving force to the outer game.

In Visions to the Top: A Millionaire’s Secret Formula to Productivity, Visualization and Meditation, Justin Ledford shares his methods for achieving success in every area of life. He explains how readers can tap into their dreams, and begin using them as the driving force for goal attainment. Himself no stranger to struggle, Ledford personally used techniques of intention, visualization, meditation, and planning to overcome many obstacles and to build several multimillion dollar businesses. Here are his top four practices.

The Power of Intention

People who achieve greatness in their lives don’t get there by chance–they know their purpose when they start their personal journey, and they kept that intention alive as they proceed. He writes:

“Precise intentions are like looking through binoculars. You must know what you are looking for, and in order to spot your target you have to have a general idea where it’s located. Even when you are looking straight at your target, in order to see more detail, you need to zoom in. That is what precise intention does, it locates and magnifies that which you want. If you are focused with laser precision on what you want, and are taking action to move towards it, you’ll get it.”

Ledford refers to a study by Dr. Masaru Emoto, which revealed that our words and thoughts impact every cell in our bodies. Words are very powerful, with the ability to effect our entire being in either a negative or positive fashion.

Whatever follows the word “I” will dictate our feelings and actions. Therefore, Ledford suggests that instead of saying weak comments like, “I don’t know if I can get this done”, start using empowering statements such, “I am committed to having the best month of my life.”

With a few decades of experience under my belt, I truly believe that our outer world is just a reflection of our inner world. We are where we are in life, because for the most part that’s exactly where we want to be.

Ledford advocates the use of Visualization–a practice which he believes helps to rewire the subconscious mind. While he presents an overview of the many different techniques for using mental imagery, Ledford suggests:

“By getting in the habit of tapping into where you will be one year from now and going to that spot through visualization, you will be rewiring your subconscious– increasing your belief in yourself and seeing your success as possible. Believing in your intentions, and taking the appropriate action towards attaining these goals will ensure that a world of opportunities open up–you will begin to meet the right people, and will find yourself being in the right place at the right time.”

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Meditation

Meditation has grown rapidly in recent years as more and more studies show that it can help reduce stress levels, lower blood pressure, strengthen your body’s immune system, improve cognitive functioning, increase productivity and stimulate creative thinking.

Ledford believes meditation is also a powerful strategy for success, allowing you to easily and effortlessly go after that which you seek. He suggests that when meditating, we should, “Bring an image of your dream or goal to mind so that it can be planted in the fertile soil of the subconscious, programming plans for you to achieve it.”

Stop Being Busy and Start Being Productive

Most people make the mistake of confusing busy work for being productive. While checking your emails, and listening to voicemails are important, they are not activities that directly impact your goals. In order to be successful, it is extremely important that you learn to prioritize.

Ledford recommends, as I do, that you should be identifying your daily Most Important Task (MIT), and tackling it first. This is the thing that will move you towards your goal, and is usually handled best in the morning when your energy levels are high. Doing so will provide you with a sense of accomplishment, which will then set the tone for the rest of the day.

He also suggests setting a timer to limit the time spent on a task, in order to further increase your productivity. For most of us, more time is not the answer, it’s about using the time we have more effectively. We tend to be more motivated when a task has a defined end point, and more focused when we know our time for completing something is limited.

The visualization and subconscious programming techniques laid out inVisions to the Top are simple, and accessible to anyone prepared to put in the work. They will go a long way to making sure your inner game is right, which will influence your outer behaviors and ultimate success.

Kevin Kruse is the author of 15 Secrets Successful People Know About Time Management and “How Millionaires Plan Their Day: A 1-Page Plan (PDF).”

Forbes.com | July 25, 2016 | Kevin Kruse

#Leadership : Accelerate Your Understanding Of Teams With These 3 Facts… What are the Differences between a Group and a Team? Here are Facts you Should know to Accelerate your Understanding of Teams.

July 25, 2016/in First Sun Blog/by First Sun Team

If you don’t think teams are important, you’re living in a bubble . In the interdependent and technological world of today where the increasing pace of change is constant, teams are the lifeblood that drive better (read sustainable) business. Nobody is smarter than everybody, and while people certainly work beside others in the workplace, they rarely work with them. Here’s what I mean.

The difference between a group, where people work beside one another, and a team, where people work with each other, is this: there is no mutual accountability in groups, no shared purpose. Groups are essentially clusters of people with individual agendas who have their own definition of “winning.” There are no shared consequences and no accountability. Teams, on the other hand, depend upon each members’ efforts because they’re aligned toward a common purpose. Teams are guided by shared leadership and share a mutual understanding—and therefore accountability—of team roles, responsibilities, the scope of work to be accomplished and the purpose for which the team exists.

Here are three more fun facts you should know to accelerate your understanding of teams:

Teams adapt to circumstance. Teams are living, breathing organisms that change and morph over time depending on the task at hand. Not every team is—or should be—structured similarly, as the team’s mission will dictate team typology. If, for instance, a deadline is approaching and time is of the essence, then the team leader may assume a more “command and control” type of role where she goes point-to-point with each team member to ensure follow-through and timely delivery. If a team is in transition (i.e. rotating roles, new members) then there may not even be formal leadership as members try to figure out the best fit for 1) the team and 2) each member.

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Team dynamics are everything. What goes unsaid in meetings is oftentimes more important than what is. The challenge for organizational leaders today—and every day for that matter—is observing the social dynamics that fly beneath the radar—not because the leaders themselves are unobservant, but because running a team meeting and focusing on the agenda while also observing the unsaid intricacies of non-verbal communication is too much for the brain to ingest. If you’re running a meeting, for example, you’re focused on tasks and you simply don’t have the mental bandwidth to observe and reflect upon each members’ actions and how they impact the team as a whole. The problem is this: when social dynamics aren’t addressed then questions go unanswered and follow-on hallway conversations become the norm because there was either an unwillingness to address the dynamics in the first place or a lack of awareness to know they even existed.

Teams are valued, but rarely understood. Most companies claim they value teamwork but few really know what great teamwork looks like. If teaming was clear, then there would be more team-based rewards rather than corporate incentives that promote individualism. Here’s an example. While sales teams claim to be a “team” they’re typically incentivized as individuals. Meaning, that bonuses aren’t allocated based on the collective efforts of the team but rather the individual wins of each sales person, which only leads to sales reps encroaching on others’ territories, stealing others’ clients and doing everything they can do to promote themselves because that’s what they’re rewarded for.

If you want to understand how businesses operate, start by understanding the essence of teams.

Jeff is the author of Navigating Chaos: How To Find Certainty in Uncertain Situations and former Navy SEAL who helps business teams find clarity.

Forbes.com | July 25, 2016 | Jeff Boss

Your #Career : How To Get A Job In A Field You Didn’t Major In…Your Degree doesn’t Chain you to a Field for the Rest of your Career. Here’s How to Use What you’ve Already Learned to Try Something Else.

July 24, 2016/in First Sun Blog/by First Sun Team

The upshot? There’s no need to panic. “It’s natural for college students to change their career direction,” says Donald Asher, author of How to Get Any Job with Any Major. Furthermore, employers aren’t as hung up on your major as you might think. “Once you step off campus, hiring managers care a lot less about what your major was,” says Asher. “They care more about the fact that you have a college degree.”

After you’ve secured a diploma, it’s time to convince a potential employer to hire you, regardless of what your degree is in. These five steps can help you start off on the right foot.

PICK A CAREER, ANY CAREER

You know what you don’t want to do, but before diving into your job search, you need to determine what it is you do want to do. Your best play is to identify what industries are hiring and what skills are in demand, says Anne Brown, co-author of Grad to Great: Discover the Secrets to Success in Your First Career. Refer to the Bureau of Labor Statistics’ Occupational Outlook Handbook, which publishes job descriptions, salary information, and hiring forecasts for more than 300 occupations.

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FIGURE OUT IF YOU’RE QUALIFIED

Once you’ve narrowed your search to one field, assess whether you meet the basic requirements to get hired in that industry. If you’re looking to break into a specialized industry (e.g., nursing), you might have to take more college courses before you can start applying for jobs. Fortunately, “for nine out of 10 of occupations, you don’t need additional coursework or training,” says Stephanie Waite, senior associate director at Yale’s Office of Career Strategy.

Want to work in a niche industry that demands specialized skills? You might need internship experience first, especially since most companies intend to convert their interns into full-time employees, according to the National Association of Colleges and Employers’ 2016 Internship & Co-op Survey.

If you don’t want to commit to a full-length internship, you could shadow an employee for a week, says Asher. According to Waite, a growing number of Yale students are using short-term shadowing experiences to get a taste for what jobs are like. Shadowing can also be a great networking opportunity.

BUILD YOUR NETWORK

Although you don’t have a degree in the field you’re pursuing, you don’t have to build a network from scratch. Tap your school’s alumni database and go on informational interviews to learn more about the industry. Asher recommends reaching out to employees with five years of experience. “You don’t want to contact a vice president who hasn’t looked for a job in 10 years, and you don’t want an entry-level employee who doesn’t know the ins and outs of the industry yet,” he says.

If you don’t want to commit to a full-length internship, you could shadow an employee for a week.

If you’re looking at jobs in other cities, don’t hesitate to do informational interviews by Skype or phone, says Asher. Joining professional associations and attending industry events can also help build your network.

LEVERAGE YOUR TRANSFERRABLE SKILLS

Okay, so you majored in a different subject than your desired field. You likely still took a handful of general liberal arts courses—and those classes equipped you with some universal skills like writing, problem solving, verbal communication, and organization, says Kelly Kennedy, a career counselor at the University of Virginia. And if you took a leadership role on a class project, you may even have some project management skills in your back pocket. These transferable skills make you pretty marketable to employers.

Brown recommends seeing what skills are mentioned in job postings and then tailoring your cover letter accordingly to each position.

HONE YOUR INDUSTRY KNOWLEDGE

To show employers you’re worth hiring, you need to prove that you’re knowledgeable about what’s going on in the field. And while that’s a good idea for every job seeker, says Kennedy, it’s especially crucial if you don’t have relevant education or internship experience. Stay current by subscribing to company newsletters, reading industry media outlets, and following prospective employers on social media.

This article originally appeared on Monster and is reprinted with permission.

FastCompany.com | DANIEL BORTZ, MONSTER | 07.23.16 | 5:00 AM

#Leadership : What I’ve Learned By Hiring More Employees With Disabilities…Less than a Fifth of People Living with Intellectual and Developmental Disabilities are Employed, but Business Leaders can Help Change That.

July 24, 2016/in First Sun Blog/by First Sun Team

Everyone deserves a chance to succeed. And by my estimation, no group has been refused that opportunity more than people living with disabilities (PLWD). Sadly, less than one-fifth of this population is employed.

Even though I’ve made expanding opportunities for PLWD my life’s work, I nearly denied my first PLWD hire, Andrew, a fair shake. My company sells wine and donates all profits to nonprofits, so we host tastings at grocery and liquor stores. Now one of my top employees, Andrew began his first tasting in 2015 like a pushy car salesman.

Too many employers see inability before giving PLWD a chance.

Within minutes, I was reconsidering my hire, anxiously coaching him between interactions. And something happened that, in hindsight, I should’ve expected: Andrew listened to me, improving his approach with each customer. After all, nobody gets a new job right on the first shot. By tasting’s end, customers were lining up to speak with Andrew. We wound up selling twice our normal volume that day.

Something else happened, too. I discovered the true value of employing PLWD—not as token employees but as real members of my team. Now, three of my 10 employees are PLWD, and as I’ve learned, integrating PLWD into a workforce takes a little finesse but is well worth the effort. If you’re an entrepreneur or business leader, these are a few ways you can hire and prepare PLWD to become some of your most indispensable employees.

1. START WITH AN INTRODUCTORY PROGRAM

On Andrew’s first day, I mistakenly threw him into the fire with little preparation. Instead, take some time and care with the on-boarding process. You can even progressively acclimate newly hired PLWD through internships, on-location work trials, or job shadowing. The Institute for Corporate Productivity (i4cp) found that nearly three-quarters of employers participating in these programs saw positive results; only 8% said support needs were greater than anticipated.

In 2009, AMC Entertainment began hiring PLWD. To integrate its new talent, the theater chain collaborated with the Autism Society in Bethesda, Maryland. When asked about the program’s results, AMC’s chief people officer told Bloomberg, “You end up being a healthier company from a lot of different perspectives: innovation, engagement, morale, productivity.”

So while your crew flourishes because of your inclusion program, rest assured knowing your company will benefit, too. The i4cp study found that employing PLWD increased customer satisfaction by 44% and enhanced brands by 34%.

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2. FIND THE BEST FIT

As is true for any employee, PLWD on your team thrive when their roles match their skills. Fortunately, PLWD have succeeded across employment categories, including administrative work, facility maintenance, food service, and patient care.

In one exercise [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][meant to highlight unconscious bias] . . . some highly educated PLWD were judged to be unfit for the very roles they were working in.

If you’re not sure which roles within your organization might work for PLWD, contact local agencies that specialize in connecting employers with PLWD candidates. While the U.S. Equal Employment Opportunity Commission forbids discrimination—positive or negative—based on disability, these agencies can recommend PLWD candidates who might fit with open roles. St. Louis Arc, for example, pointed me toward Andrew as a candidate for wine tastings. I’ve also received great recommendations from the St. Louis–based United Cerebral Palsy Heartland and The Center for Head Injury Services.

If you choose to hire a PLWD, consider customized employment. A Seattle man with disabilities, whom I’ll call John, and his employer tapped into his full potential using this approach.

Once a low-wage workshop employee, John told Carol Salter, who works for a disability advocacy organization, that he wanted to build engines. Carol knew John couldn’t earn the necessary certifications for the job, but as she watched mechanics hauling equipment, breaking down boxes, and cleaning spills, Salter realized John could tackle these tasks. Now John makes $11 per hour as an essential member of the shop, allowing higher-paid specialists to spend more time fixing engines.

3. QUESTION PRECONCEPTIONS AT EVERY TURN

We all like to think we’re sensitive and self-aware, but it takes constant vigilance to see how unconscious biases color our perceptions of others. Just as I reacted poorly to Andrew’s initial performance, too many employers see inability before giving PLWD a chance.

While employing PLWD can make your company look good, the initiative can’t be about appearances.

Mercy Healthcare, a local leader in hiring PLWD, earned my support by demonstrating how biases unfairly restrict this population. In one exercise, Mercy’s facilitators showed photographs of individuals and asked participants what jobs they appeared qualified for. Unsurprisingly, some highly educated PLWD were judged to be unfit for the very roles they were working in. Our first instincts can often be wrong, and that limits both employers and employees.

4. PRAISE WITH HONESTY AND PRECISION

Complimenting somebody for working as expected isn’t the same as celebrating a serious accomplishment. Consider how insulted you’d feel if you were told, “Congratulations, you met expectations.” Instead, acknowledge specific significant achievements, such as “You’ve packaged more parts than anyone on the floor this month, John. That’s a big deal.”

The late Stella Young, a disability rights activist known for her journalism and comedy, took aim in a TEDx Talk at the way PLWD are praised for minor efforts, such as simply going to work—arguing that modern culture (especially in the social-media age) patronizingly holds up disability as a source of inspiration for those who don’t experience it.

Academic and PLWD Tom Shakespeare says this occurs because perceptions of the community are so low to begin with. By praising only when it’s truly deserved—much as you would any employee—we can break that mindset. In fact, we need to in order to integrate more PLWD meaningfully not just into the workplace and, hopefully, build a more inclusive society in the process.

But remember: While employing PLWD can make your company look good, the initiative can’t be about appearances. Top-performing companies, as i4cp found in its research, don’t hire PLWD for positive press or compliance. They do it—successfully—as a competitive strategy.

Including PLWD in your workforce can benefit your bottom line, but it’s all in the way you do it. And who knows? You may even find your own Andrew.

Scott Monette is the founder of 100 Percent Wine, a premium winery based in St. Louis that produces California wine. The company donates all profits to nonprofit organizations working to create jobs for people living with disabilities. Previously the chief financial officer for Ralcorp Holdings, Scott is now a dedicated father, entrepreneur, and philanthropist.

FastCompany.com | SCOTT MONETTE | 07.21.16 | 5:00 AM

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