Tag Archives: CEOs

A Merger in the Gig Economy…Or Not

As part of my research for my new book, Thriving in the Gig Economy, which will be coming out next spring, I had the opportunity to interview Stephen DeWitt, the  CEO of WorkMarket. http://www.workmarket.com

Although it sounds banal to say it, Stephen is a visionary about the future of work and how technology will enable on-demand access to skilled workers globally  in a marketplace that many will find hard to _dsc5674imagine or even anticipate.  As I explain in my book, in today's environment, the immediacy of access to resources is highly conditioned by the skill set sought; I want my Uber driver right away, but I may be a bit disconcerted if my interim CFO showed up on my doorstep in 5 minutes.  Our mental models are not quite set at the right speed  now, for the way Stephen sees the future. Stephen sees that CFO, or chemical engineer or strategist arriving seamlessly when a company needs it  thanks to custom talent pools and the algorithms that will continue to evolve and load balance expertise levels.

As he shared with me as well as John Battelle in his great newco piece, A Total Rethink of How Work Should Work  https://shift.newco.co/a-total-rethink-of-how-work-should-work-5dc3980ea52#.76ychzmxi , to imagine the future you need to think of the futures you know.  Think Star Trek, for example, if Captain Kirk is in need of new expertise to make the next voyage, do you think he is just going to list it on LinkedIn?

Which brings me to the point of this post.  A major acquisition was finally approved last week to remarkably little fan fair, especially when compared to the press when the deal was announced. LinkedIn is now officially owned by Microsoft, an organization not known for successfully integrating acquisitions. LinkedIn is of course the largest talent marketplace  in the world, even if it doesn't operate like a digital talent platform. (With apologies, of course, to LinkedIn Profinder, which is trying. )

It has a significant role in the Gig Economy, though, since it is a key element of an independent worker's digital brand. Look at me -- I am posting this on LinkedIn in addition to my own blog as part of my own branding strategy. I even have a section in my book on how to optimize your digital image on LinkedIn. So will this primacy as a venue for independent experts to showcase expertise change in the new Microsoft world?

It is hard to say. An article on this topic by Dina Bass on Bloomberg yesterday https://www.bloomberg.com/news/articles/2016-12-13/how-microsoft-and-linkedin-can-make-this-expensive-deal-work said a key to the deal is to "let LinkedIn be LinkedIn." The public plan is to keep the two companies separate and develop those ever popular "synergies" to enable skilled professionals to be more productive.  As an Apple fan who has always thought apple design far superior to Microsoft and other platforms,  that didn't seem like a natural outcome to me.  (Let's face it the Microsoft stuff never works quite as well on a mac...)

But my bigger concern came from the video conference the day they announced the deal. Microsoft CEO , Satya Nadella, said he wanted to help make the LinkedIn members more successful in their "jobs".  https://www.linkedin.com/pulse/linkedin-microsoft-changing-way-world-works-jeff-weiner In the new world of work, the one that I see and the one Stephen DeWitt sees, it isn't about "jobs" it is about the work and skill sets and managing independent careers. Hopefully the new combined Microsoft and LinkedIn leadership will see that and plan accordingly.

The Entrepreneur’s Organization in San Francisco Turns 25

Entrepeneurs Organisation Celebrates 25 Years!

The Entrepreneur’s Organization, (EO) had a celebration last week to celebrate the start

Veteran Entrepreneurs Organization Reunion

Veteran EO Members at the Palace of the Legion of Honor

of its San Francisco chapter 25 years ago.  I was one of the intrepid founding members of what was then called the Young Entrepreneur;s Organization,  or YEO.

(As an aside, I was 7 months pregnant when I joined EO.  I remember the other  mostly single young members being shocked when they politely asked me if it was my first child, and I replied, “no, it is my third.”)

Back in 1991, you had to have sales of $1mil before you were 35,and you were kicked out of the organization at 40. Many members went on the the Young President’s Organization, (YPO), once they hit their 40s.  As one of my kids once said, who would want to be in the Old Entrepreneur’s Organization?

About 10 years ago, they got rid of the Young in the title and just branded the association as the Entrepreneur’s Organization (EO).  As one of those folks who made the transition to YPO, I have to say that EO was different YPO remains a wonderful organization for me and I am proud to be an active member, but it was not the same as EO.  In YPO, you could have members who were hired guns, presidents recruited to grow, turn around or manage an existing enterprise.  Similarly, there was the “lucky sperm” cohort, of those presidents who stepped in to a family business.

In EO, everyone was a founder.  Everyone had that experience of  having that kernel of an idea in your mind.  You kick it around, you nourish it, and ultimately you get it growing. As a female entrepreneur, I liken it to being pregnant.For awhile when you are pregnant, only you know what is happening inside your body  Chances are, your husband doesn’t even know for a few days anyway .  But slowly it becomes apparent to others.  At some point, i.e. the birth, to continue the metaphor, you let some others into the tent.  Still, you are very careful how it grows.  Over time more people become involved, but you  remain the one most involved with shaping the future of this enterprise.

As the business grows, your entrepreneurial role is akin to  parenting.  Gradually, other people begin to influence the development of the company.  At some point, you realize you are no longer in total control, and then there is the moment when the company is growing in ways that you had never envisioned. Hopefully you imbued it with the right core values to ensure that this maturation is true to your original vision.

EO was a great support while making this journey.  Sharing concerns, opportunities and problems with a like minded group of peers was a tremendous learning experience.  I grew in ways in those years that I did not appreciate at the time. Along with MIT and Inc. Magazine, EO put on the Birthing of Giants Program.  This was an amazing  program for a cohort of 40 young entrepreneurs.  We would spend a week together each spring for 3 years. In the intervening years, many things would happen to the fortunes of these young firms and their founders. Companies, went public and bankrupt, firms were merged, rolled up or sold. And through it all, we learned lessons from each other that would stay with us through the years.

So I was grateful to be able to attend the wonderful 25 year celebration at the Palace of the Legion of Honor last week.  The EO chapter put on a terrific program with 4 different speakers, all of whom were inspiring and provocative. One lesson EO taught me is we can never stop learning, so it was wonderful to continue my education at this event.  Thanks EO.

An Exercise in Goal Setting for 2016

I facilitated a peer group meeting today of CEOs  where the topic was personal goals for 2016. Given that they were all running companies, most of the goals focused on  achieving revenue, profit, share price  or fundraising targets for their companies.  There were a number of objectives that involved load balancing the management team, i.e., making sure that the right expertise was in the right role, correcting a mismatch that exists now. Several of these executives also sought to improve their leadership skills either by being able to focus on higher order tasks, like thought leadership, or successfully instilling a common leadership framework and language in the management ranks.

Much to my surprise, all of them offered at least one personal goal as well.  And although there was the obligatory, “get in better shape”, (it is just post New Year’s Resolution time after all…)  there were also some audacious aspirations, everything  from learning acrobatic flying to completing a series of 8 abstract paintings.  I asked each CEO which goal  was the most at risk for the year, and many times it was that personal goal. That was due in part to the fact that the time allocation for the personal goal was totally dependent on the success of achieving the business goal; if product releases don’t happen on time, golf handicaps won’t go down, and if revenue stalls there won’t be a personal best in one of several half marathons.  Common sense  demands the business priorities come first.

On the other hand, my surmise is that for some of these busy folks, setting personal goals may have been a new exercise. We  have all had to live and die by business goals — that is the way of the world.  But how many of us plan to accomplish what some may deem less important or even frivolous goals? There is a power in saying what you want out loud. It gives it import; it makes it real. Years ago I did this exercise and I said I wanted to get on a corporate board.  Within two years I was. In reality, the fact that I said it out loud had nothing to do with my ending up on that Board, but there is the power of  intention.  To me, speaking it helped make it so.

So I am very optimistic about the goals set by my CEO cohort.  Certainly there will be bumps in the road for some, but I am eager to hear not just of the revenue targets achieved, but also about the abstract paintings.

 

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