7/10/2010

Preoccupations - An Entrepreneur Who Took a Chance on Herself

My co-workers were intelligent, ambitious and fun, and I interacted with high-level executives at Fortune 500 companies. My perks included free concert tickets, ski trips and fancy dinners. I was on track to be earning six figures within three years. It was the good life I had been chasing along with my peers at Stanford.

So why wasn’t I happy?

After six months of living this supposed dream, my day-to-day life was far from satisfying. I was working 14-hour days, and most of my time seemed to be spent nudging boxes around in PowerPoint slides and agonizing over the wording of bullet-pointed items.

It felt wrong to be dreading work at such a young age. I wanted to wake up each morning excited about what was ahead. I wanted to create something of my own.

I had joined consulting with the goal of starting my own company one day, perhaps after getting my M.B.A. At the time, I believed that management consulting would best prepare me to run my own business, but I soon realized that consulting was mostly just teaching me how to be a better consultant.

Venture capital, I thought, would be a more direct path to entrepreneurship. So I quit my job as a consultant after six months and joined a venture capital firm in Silicon Valley.

I lasted just six weeks this time. Although I had indeed moved closer to the world of entrepreneurship, I found myself no closer to actually becoming an entrepreneur. To make matters worse, the work I was doing was even more painful than before, and the hours were longer.

My day now consisted of mining lists and industry reports for high-growth companies, then cold-calling their chief executives. The more C.E.O.’s I spoke to, the more “points” I got. Soon I would be judged by how many meetings I was able to schedule for my partners. And if a meeting turned into a deal, I made money. In short, I was a saleswoman.

Sales is an essential aspect of entrepreneurship, which is what initially attracted me to this job. A few weeks of selling something for which I had no passion, however, were enough for me to realize that my venture-capital gig wasn’t the good life I had imagined.

Switching jobs had not solved my problems. The truth was that I hated working in a conventional structure. I hated having a boss, working on someone else’s creation and sitting in an office all day. My time was not my own, and I was miserable. I could not bear it for even one day longer. So I quit and decided to become an entrepreneur.

Along with my boyfriend (now my husband), Parag Chordia, I raised money through family and friends and started my own technology company, a social networking site that grew to two million users. And I have never looked back — even though that company has not been profitable.

Last year, Parag and I started Khush Inc., which makes an iPhone music application called LaDiDa. It’s a kind of reverse karaoke — it creates background music when people sing lyrics into a microphone, and it is one of the top 20 paid music applications in iTunes.

As chief executive of my own start-up, I now spend my days building consumer products from the ground up, creating grass-roots marketing campaigns, pitching my ideas to investors and dreaming about the next big thing. How many people bought my product? Who saw my video? What can I do to reach more people tomorrow? These are the questions I ask myself each day.

There is a certain thrill to seeing one’s own creation in the hands and minds of thousands, sometimes even millions, of people around the world. Entrepreneurship is intoxicating.

Exciting as it may be, however, the entrepreneurial life is far from easy. Stress is a regular part of the day. Money is tight. There are frequent emotional highs and lows, and the desire to succeed can become all-consuming. Underlying all of this is the knowledge that failure is the most likely outcome.

Yet, no matter how tough things get, I wake up every morning with renewed hope and excitement for what lies ahead. The fact that I am working on my passion gives meaning to even the most mundane tasks.

My future is perhaps more uncertain than it ever has been. I may end up wealthy, or I may earn barely enough to support myself. But the realization that I face a high likelihood of failure is not enough to send me back to the corporate cubicle.

Maybe I value my time more than my net worth. Maybe my fear of boredom outweighs my fear of failure. Or, maybe I have an irrational belief that I will succeed against all odds. Whatever it is, I find the risk of entrepreneurship to be not only worthwhile but also necessary for fulfillment. Work is no longer work. It is life, and a good one.

The entrepreneurial spirit

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HuffPo Dispenses Invaluable Social Media Advice for Youngs - New York News - Runnin' Scared

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​God, if there's one thing we millennials need advice on, it's how to use social media. Here we are, posting pictures of ourselves shooting up on Facebook and whatnot, barely able to operate our iPhones, practically begging for some guidance from old people.

We're in luck, because the Huffington Post has issued an indispensable slideshow of do's and don'ts.

First of all, "Avoid Posting Embarrassing Photos." As if this advice hasn't been drilled into my head enough times yet! Now that HuffPo has said it, though, I'll take down that "Crack Den Spring '10" album.

Also, try something new and Google yourself. "If you've never Googled yourself, you might be surprised you might find [sic]." Surprised I might find...what? Who has never Googled themselves, ever? As Jen asked, "Was this written by someone who doesn't know how to use a computer?" All signs point to yes.

"Don't Talk Trash Online." Too late.

HuffPo also reminds us spoiled millennials that "It's Not All About You." Whoa. Whoa. So everything our parents taught us is wrong? "Nobody cares what you had for breakfast this morning, so don't tweet or write a Facebook update it [sic]." That said, they definitely care about Voice intern bra conversations.

The other two nuggets of wisdom are "Create Positive Content" and "Be Social," neither of which mean anything. But listen, guys, let's get it together. Are you Googling yourselves yet?

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Imagining the Internet

'Millennials' leading the way on social media | Pew Research Center's Internet & American Life Project

Check out this website I found at pewinternet.org

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Generation X and The Millennials: What You Need to Know About Mentoring the New Generations


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Generation X and The Millennials: What You Need to Know About Mentoring the New Generations
by Diane Thielfoldt and Devon Scheef
August 2004


Which of the following means the most to you?
  • Elvis joins the Army.
  • Jimi Hendrix dies
  • MTV debuts.
  • Kurt Cobain dies.

Your answer, of course, depends on your age—or more specifically, on the generation you belong to. While pop music milestones may not seem all that important, the sum total of experiences, ideas and values shared by people of different generations makes for a melting pot of work approaches and priorities. Once you understand where the newer generations are "coming from," as a Boomer (born 1946-1964) might say, it’s easy to target your mentoring style to bring out their strengths and make the most progress. Remember to discard biases and pre-conceived notions, and you and your mentees from all generations enjoy your generational differences—and similarities!

Source: The Learning Café and American Demographics enterprisingmuseum 2003.

Generation X: Declaring their Independence

The 51 million members of Generation X, born between 1965 and 1976, grew up in a very different world than previous generations. Divorce and working moms created "latchkey" kids out of many in this generation. This led to traits of independence, resilience and adaptability. Generation X feels strongly that "I don't need someone looking over my shoulder."

At the same time, this generation expects immediate and ongoing feedback, and is equally comfortable giving feedback to others. Other traits include working well in multicultural settings, desire for some fun in the workplace and a pragmatic approach to getting things done.

Generation X saw their parents get laid off or face job insecurity. Many of them also entered the workplace in the early '80s, when the economy was in a downturn. Because of these factors, they've redefined loyalty. Instead of remaining loyal to their company, they have a commitment to their work, to the team they work with, and the boss they work for. For example, a Baby Boomer complains about his dissatisfaction with management, but figures its part of the job. A Gen Xer doesn't waste time complaining-she sends her resume out and accepts the best offer she can find at another organization.

At the same time, Generation X takes employability seriously. But for this generation there isn't a career ladder. There's a career lattice. They can move laterally, stop and start, their career is more fluid.

Even more so than Baby Boomers, members of Generation X dislike authority and rigid work requirements. An effective mentoring relationship with them must be as hands-off as possible. Providing feedback on their performance should play a big part, as should encouraging their creativity and initiative to find new ways to get tasks done. As a mentor, you'll want Gen Xers to work with you, not for you. Start by informing them of your expectations and how you'll measure their progress and assure them that you're committed to helping them learn new skills. (Members of Generation X are eager to learn new skills because they want to stay employable.) Gen Xers work best when they're given the desired outcome and then turned loose to figure out how to achieve it. This means a mentor should guide them with feedback and suggestions, not step-by-step instructions.

The Millennial Generation: Up and Coming

Just beginning to enter the workplace, The Millennial Generation was born between 1977 and 1998. The 75 million members of this generation are being raised at the most child-centric time in our history. Perhaps it's because of the showers of attention and high expectations from parents that they display a great deal of self-confidence to the point of appearing cocky. As you might expect, this group is technically literate like no one else. Technology has always been part of their lives, whether it's computers and the Internet or cell phones and text pagers.

Millennials are typically team-oriented, banding together to date and socialize rather than pairing off. They work well in groups, preferring this to individual endeavors. They're good multitaskers, having juggled sports, school, and social interests as children so expect them to work hard. Millennials seem to expect structure in the workplace. They acknowledge and respect positions and titles, and want a relationship with their boss. This doesn't always mesh with Generation X's love of independence and hands-off style.

All Millennials have one thing in common: They are new to the professional workplace. Therefore, they are definitely in need of mentoring, no matter how smart and confident they are. And they'll respond well to the personal attention. Because they appreciate structure and stability, mentoring Millennials should be more formal, with set meetings and a more authoritative attitude on the mentor's part.

Provide lots of challenges but also provide the structure to back it up. This means breaking down goals into steps, as well as offering any necessary resources and information they'll need to meet the challenge. You might consider mentoring Millennials in groups, because they work so well in team situations. That way they can act as each other's resources or peer mentors.

Diane Thielfoldt and Devon Scheef are the co-founders of The Learning Café. They collaborate with clients to make peace with multiple workplace generations, create leadership development initiatives, and craft mentoring initiatives that work.

Their work on generational issues is featured in the thought-leadership compendium Human Resources in the 21st Century, published by John Wiley & Sons Inc. Their breakthrough advice on generations in the workplace is featured in Love ‘Em or Lose ‘Em: Getting Good People to Stay. They are the co-authors of Mentoring: A How-To Guide published by the American Society for Training & Development, and their popular Talks on Talent have provided practical guidance
on making mentoring work to thousands of business people worldwide.

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The "Millennials" Are Coming - 60 Minutes - CBS News

Entrepreneurship 2.5 Times More Awesome Than Working for a Boss - Business - The Atlantic

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Entrepreneurship 2.5 Times More Awesome Than Working for a Boss

Jul 9 2010, 2:38 PM ET |

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I guess this means money can buy happiness ... at work.
You have to earn 2.5x as much to be as happy working for someone else as you would be working for yourself....

This is consistent with the one undisputed finding in all the research on entrepreneurship: people who work for themselves are far happier than the rest of us. Shane says that the average person would have to earn two and a half times as much to be as happy working for someone else as he would be working for himself.

Happily read the full story (for yourself) at Bakadesuyo.


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Entrepreneurship event planned to assist veterans in starting their own businesses News Tribune -Local News

Biz in a Boxx Brings Entrepreneurship to Children and Teens

Entrepreneurship. The trend of the 21st C.

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Facebook | Lola Koumantzias: Exploring The Universe One Day At A Time (for Rajini, Angela Love, Mariette, Lynda, Terry, Ananda and the rest of my family)

Inner Child Inspirational quote of the day | Soul Hangout

Have a Soulful and Playful day. You and your Inner Child.

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