2010s or 1920s – In the World of Work, the Only Constant is Change

How are you dealing with the 21st century? Those who’ve been in the work market for a couple of decades or more have witnessed a hastening evolution of how things are done and what you need to do just to get by – let alone to excel.

Even millennials can find themselves somewhat adrift when new skills become outdated and employers experiment with workplace environments that are wildly different to what you were prepared for in school.

However, we’re lucky enough to live in an age of apparently infinite resources for self-improvement, career development and entrepreneurship. The online world is full of advice, training courses (many for free), and forums filled with like-minded individuals and more experienced professionals who are eager to share their knowledge.

Look back ninety years or more and the picture is quite different. The forerunner of that same communication network, the phone system, was made to function not by codes and algorithms but by real live “Hello Girls” whose job was to connect caller to call-taker by plugging and unplugging jacks and cables at the telephone exchange. Imagine if the same process happened every time you typed a different URL into your browser!

Even getting up to go to work in the morning was a more difficult process. Today, aside from the few lucky people who can reliably depend on their ‘internal clock’ to wake them in the morning, even the most ambitious among us need our iPhone or old school alarm clock to stir us from slumber. In those days, you might make more money as one of the few professional ‘knocker uppers’ – human alarm clocks – than the factory workers who relied on them. Which would you have been: the knocker upper, banging on windows before the sun rose, or the factory worker with a job for life but no real sense of self-determination?

But professionals in the 1920s had to deal with changing times and technological progress just like the rest of us. For example, in 1927, movies started to be released with synchronised sound, which meant that many of the legendary stars who’d been admired in the silents were now heard speaking for the first time. If an actor’s voice was not as luscious as his or her looks, or they just couldn’t act to the standards now required, they would soon become yesterday’s news – and end up joining the rest of us in the queue to become a salesman, a laborer or a telephone operator. Those knocker-uppers were replaced by radio alarms and smart phones, and robots are still in the process of taking over the factories.

To see where you might have ended up in the 1920s, and what your financial prospects might have been, have a look at this new infographic from OnStride Financial. It might make your feel a little more empowered over your 21st century career!

John Cole is a digital nomad and freelance writer. Specialising in leadership, digital media and personal growth, his passions include world cinema and biscuits. A native Englishman, he is always on the move, but can most commonly be spotted in Norway, the UK and the Balkans.

(Image Source: OnStride Financial)

Corporate Career or Entrepreneurial Path?

corporate-career-or-entrepreneurial-path

This is a guest post from Marguerite Arnold.

I am a bit of a late bloomer in some ways – certainly academically. At the age of 48, I decided, after a life spent in business of all kinds, to go back to school, obtain my EMBA, and focus on an entrepreneurial career.

It’s not really that delaying my master’s was a choice. When I was younger, I couldn’t get a school loan. I had no cosignors. And the jobs I got never paid enough to get the loan either.

But here I am.

If I were to compare myself to any generation right now, it would not be my own but to the generation of young people currently leaving university for the first time. I have no home loan and, despite a good stint on Wall Street earning a six figure salary, all of my net worth was wiped out in the “Great Recession” along with anything like steady employment.

As a person of a certain age, not to mention a foreigner in a country where I still struggle with the native language, I have embraced the digital “gig economy” – I had to. That said, I have always been exposed to it. My parents were self-employed. My uncle was Peter Drucker – a man who wrote about corporate management – yes – but who also foresaw the situation we face now. Going to business school these days, more than ever, is about learning to manage the dichotomy between the way things were and the way things are changing.

Don’t kid yourself. The entrepreneur’s path takes a lot of practice and perseverance. It is never easy. But thinking out of the box right now is the only sure path to longer term survival. The attraction of a steady full-time job, certainly in the U.S. and the U.K., is the comfort provided by getting a pay check each week, or at the end of the month. The concept of job security though has gone out the window. The concept of a “corporate manager” is also changing fast.

As business school students contemplate the future, one thing is very clear. The old ways of doing things, along with old business paradigms, are shifting faster than the textbooks can adapt. Faster, in fact, than society can. That is always the way it has been, but this time, the shift is more profound. Companies cannot survive without acting like lean and agile start-ups, and figuring out a way to make that happen is a core priority for managers.

In some ways, deciding whether to pursue a corporate track job or jump into a start up is not a choice – just a delayed reality. Newly minted business graduates, in particular, could do far worse than reset their expectations and set their vision on leading an entrepreneurial life, right from the start.

Marguerite Arnold is an entrepreneur, author and third semester EMBA candidate at the Frankfurt School of Finance and Management.

(Image Source: Copypress)

Essential Features That Your Serviced Office Should Have

Essential Features That Your Serviced Office Should Have

It is very common these days for businesses of all shapes and sizes to use serviced offices. For smaller companies and startups, however, they are particularly valuable. If a young business wants to get off the ground fast, they can do so by paying a fixed rate fee to rent a fully equipped workspace. It gives them access to state of the art resources, without the associated expenses.

If you are currently on the hunt for a suitable serviced office, there are a few things that you need to keep in mind. It is not always easy to find an adequately supplied workspace that is also maintained efficiently, but it is possible to find both of these things. A great resource to see where you can locate your business can be found here.

This post provides some of the most essential features of a serviced office and will help you find one that is perfect for your business.

Prestigious Address

If you are willing to pay for a managed office space, you have a right to expect its address to enhance your own reputation. This is why location is key when it comes to choosing a serviced office. For young businesses, it can make a huge difference, because it replaces an unprofessional domestic address with a highly regarded corporate one. It takes a lot of investment to set up that first independent site, but serviced workspaces are a great way to feel the benefit even if a company doesn’t have the necessary resources quite yet.

Flexible Contracts

The rise of nomadic entrepreneurs has bolstered the need for a much more flexible corporate culture. Innovative new businesses no longer want to be tied to one city or even a traditional work schedule. They want the freedom to work on the move and respond proactively to developing market trends. Being unrestricted by administrative ties is a big part of this and serviced offices are an easy way to invest in the amount of security that works for you. If you don’t have to commit to a two year lease, you will have more flexibility to plan for a wider range of future eventualities.

Back Office Support

The best serviced offices are more than just blank spaces for businesses to fill. They also provide access to the finest IT, secretarial, administrative, and tech support. With a back office of this calibre, entrepreneurs and startups never have to worry about going it alone. They are just one phone call away from a highly trained and experienced team of advisors. Whether you need help greeting guests, operating IT systems, or organising files, all you have to do is ask. The clue is in the name – with a ‘serviced’ office, you should expect that all of your corporate needs will be met.

Leisure Spaces

Not all serviced offices provide access to a leisure or relaxation space, but it is an essential part of the work routine. Studies have shown, time and time again, that productivity suffers when people don’t take regular breaks. In order to work efficiently, you also need to give your brain a chance to rest and recharge. The best serviced offices come with outdoor leisure spaces, so that occupants are exposed to plenty of daylight. This keeps them alert, happy, and healthy for longer. Keep this mind when searching for your ideal workspace.

Alexandra Richards is an Australian business consultant, located in Perth. She takes a keen interest in the business structures and work culture of Perth based businesses. She has recently been working with Servcorp to help deliver tailored solutions to local businesses.

Creation vs Appropriation

Creation vs Appropriation

(Source: Flickr)

What do the painter, the author and the tech entrepreneur all have in common?

They are all in the business of creation; producing new works for the benefit of their target audience.

And what about the professional gambler or the Wall Street prop trader?

They are both in the business of appropriation; placing calculated bets in order to appropriate more of what already exists in their direction.

Creation and appropriation are very different kinds of activities, and both can be extremely lucrative. But the truth of the matter is that while creation has the potential to leave everyone better off, appropriation typically doesn’t.

What kind of projects are you currently working on?

Australia Is An Innovation Laggard (Nigel Lake, Part 10 of 10)

Australia, The Innovation Laggards

(Source: Flickr)

This is the tenth instalment of my conversation with Nigel Lake, CEO of Pottinger, a global corporate advisory firm based in Sydney, Australia. Nigel is the author of The Long Term Starts Tomorrow, a must have book “for any manager, leader or Minister.” The Hon Mike Baird MP, Premier of NSW

Tom: There has been a lot of support given to entrepreneurs in the UK in the last few years which seems very promising. Do you think that Australia is perhaps falling behind in that area?

Nigel LakeNigel Lake: Australia is 11 hours ahead of GMT, and about 10 years behind at least.

It is not a question of “is Australia falling behind?” Australia is massively behind.

I moved [to Australia] in 2003 and was amazed by the almost complete lack of online anything. Wind the clock forward and the online businesses of the big companies are still terrible. So there has been an amazing lack of innovation.

[Pottinger is] quite plugged into the entrepreneurial universe here through the universities, through some of the people who have invested in those companies, and through the incubators and so forth. We have put a fair amount of time into trying to support the evolution of that whole ecosystem because we think it’s amazingly important.

[Australia has] a political environment where there is a significant disaffection with science in general. There is a real love of things which are steeped in the past. There is a great unwillingness on the part of business here to embrace things which are new.

The poster child for success is Atlassian, the tech company, which sold its product in 10 or 15 countries to dozens of large companies before an Australian company would buy any of its products.

They are based in Sydney and had a fantastic platform for making your own wiki. They had a similar platform for managing agile software development programs, which is now used in many large companies around the world. Australian companies were at the end of the queue, despite the fact that the company is actually based in Australia.

Tom: So it sounds like there may be a cultural issue that Australia needs to overcome. I know that after finishing university a lot of the smartest people either leave Australia or take plum jobs in the established order of things. There appears to be a missing segment of the economy which exists in the UK and the U.S. And that is, young people trying to change things and create new businesses.

Nigel Lake: You just need to look at the university world. In most countries around the world, university students are pretty radical and protest about everything all the time. I have never heard an Australian student protest about anything apart from whether the temperature of their cappuccino is quite right.

There is an endemic acceptance of the status quo as being nice and comfortable and really quite reasonable, which to a significant degree it is. But you don’t have a change the world mentality, and people who want to change the world, as you said, they just get on a plane and they go somewhere else where they feel more welcome.

The only way you can change Australia is by changing its leaders. And that is about political leadership and business leadership. It’s an absolutely massive endeavour to attempt to do that. The challenge is that the political leadership comes out of the party system, which is breaking down in Australia as it is in the UK, but it is hard to see where that inspirational change the world leader will come from in Australia.

Courage

The hard part about pursuing a new idea is not the idea itself. There are thousands of good ideas shared every day online for free.

Nor is it the risk of financial failure since it is easier than ever to pick yourself up, dust yourself off, and start again.

The real risk that the trail blazers face is a social one.

Humans are social animals, and charting a new course necessarily means forming new relationships and investing less time in existing ones.

By taking the initiative to build new client relationships a consultant may not have the time or money to wine and dine smaller existing clients, to take the family on the traditional annual holiday, or to go out for drinks with friends.

Social isolation whether real or perceived can be incredibly painful, and so we often choose to play it safe.

We see an opportunity and we delay. Good ideas come to mind and we don’t snatch for a notepad to write them down before they vanish. We meet a wonderful new person and we don’t pursue the relationship.

Better not to risk what we have.

The flaw with this thinking is that it assumes our relationships are static. Something to be fixed, controlled, and bottled up for safe keeping. A rigid worldview which ignores the fact that, whether we like it or not, our relationships are constantly in flux.

Life constantly offers us new opportunities to change, evolve and improve, but in order to reach out we may have to find the courage to let go.

Free Charities from The Idea of Charity

“We’ve put charities in a box for far too long, let’s set them free.”
~ Nat Ware, CEO of 180 Degrees Consulting

IN an informative and timely TED Talk, Nat Ware explains how society’s traditional notions of ‘charity’ often constrain the ability of charities to have a meaningful social impact.

Below we highlight three beliefs about charity that Nat argues are holding us back:

  1. Measuring social impact: we tend to assess a charity’s effectiveness in superficial ways. For example, we tend to measure a charity’s effectiveness based on whether it has low administration costs, ignoring the fact that higher administration costs may also mean much higher social impact. We also tend to assess a charity’s worth based on anecdotal evidence rather than objective data driven analysis. This is a problem since it means that we are probably misdirecting our charitable dollars and having less impact than we think.
  2. Operating for profit: we wrongly believe that a charity should never operate for profit.  This belief ignores the fact that organisations often need to generate profit so that they can attract investment to scale their operations and have a meaningful impact.
  3. Taking risks: we expect that charities will exist forever, however we don’t have the same unrealistic expectations about for-profit businesses. Nat explains that even the most successful business leaders (e.g. Steve Jobs, Bill Gates and Richard Branson) have experienced countless failures in the process of building remarkable and world leading businesses. By not allowing charities to fail, we are limiting the entrepreneurial innovation which is needed to solve many of the world’s biggest problems.