Psst! Pass It On
Entrepreneurs reflect on the hand-me-down advice they've loved and loathed.
URL:
http://www.entrepreneur.com/magazine/entrepreneur/2004/march/69318.html
Not all advice is created equal. We asked several women business
owners about advice they received and whether they succesfully
applied it to their businesses, or ignored it for the better.
Here's what they said:
Best Advice
Laura Roberts, 37, CEO of Pantheon
Chemical, a $3 million industrial chemical company in Phoenix,
received the following advice from her friend and mentor Paula
Adkins, a senior executive at General Dynamics Corp.: "Small
people talk about people, medium people talk about events, and big
people talk about ideas." Roberts used the advice to gauge the
health of her company and the types of people she was hiring.
"It enabled me to weed out the wrong people, and that really
changed my business," she explains.
Roberts got Atkins' advice at a time when her business
development group was performing below her expectations. She
realized her own business practices were partly to blame. "We
would go through a simple interview process to assess a
candidate's skills, meet a few times, then hire them,"
explains Roberts. "Technical knowledge, initial personality
impressions and sparse reference checks were our only
criteria."
The advice helped Roberts understand she had built a business
development team with the wrong people, and her tendency to
"try to keep everybody happy, fix problems and be a
peacemaker" barely covered up the issue. Since rebuilding her
business development group with driven people, productivity has
soared.
Nontraditional Advice
Not all advice sounds like business advice. Cynthia Tsai, 48,
president of HealthExpo Inc., a $1 million-plus company that
organizes consumer health events, received this advice from
advertising executive Lois Wyse: "Always say yes. Nothing ever
happens to girls who say no." Tsai, who had been debating
going to London with an influential business leader, laughed and
knew the advice was right on. The trip yielded contacts that could
open doors for her company to expand overseas. Now, she says,
"I use this advice every week."
Saying yes to a dinner invitation from an old business associate
resulted in the New York City-based HealthExpo gaining a new
investor. More recently, Tsai took another chance. "I met a
friendly young man from Brazil at a train station, and [he] asked
for my card. Within weeks, we had met several of each others'
friends, done a business deal together, and planned a party at the
Brazilian ambassador's house." Tsai's initial instinct
may have been to decline giving her card to a stranger, but
instead, she said yes to opportunity and reaped the rewards.
The Advice Not Taken
Sometimes, advice just doesn't fit, or the receiver
can't or won't accept it. Lynda Weinman, 49-year-old
president of Ojai, California-based Lynda.com, a $2 million
software training and publishing company, received dubious advice
from her mother: "Marry a guy with money so you don't have
to earn your own." For perspective, Weinman offers, "I
was born in the mid-1950s. While my mother wanted me to go to
college, it wasn't to prepare myself for a career—it was
to meet a man and marry and have babies." She believes her
mother simply couldn't conceive of her daughter having her own
career, much less helming her own company.
At the time, starting a business was not an obvious choice for
Weinman, either. "It didn't occur to me [that] I could
find my own viable calling," she admits, explaining that the
process of starting Lynda.com in October 1998 was an evolution.
Weinman went from retail to animation and special effects before
starting a computer graphics company and writing her first book on
Web design in 1995.
"We forget how recent it is that women are respected or
successful in the business field," says Weinman. "I say
to my daughter, 'Find something you love, and you won't
mind hard work, because it will be enjoyable.' I wish
that's what I had been told, but in truth, I learned it on my
own through experience."
Aliza Pilar Sherman (www.mediaegg.com) is an author, freelance
writer and speaker specializing in women's issues.
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