Tuesday, September 04, 2018

NEW INC. MAGAZINE BLOG POST BY KAPLAN INSTITUTE EXEC DIRECTOR HOWARD TULLMAN: If You Are Not Giving Back, You're Not Moving Forward


If You Are Not Giving Back, You're Not Moving Forward
In the race to scale our businesses, we can lose track of purpose. Yet employees today seek meaning in work--or they'll work elsewhere. What are you doing to provide it?

Executive director, Ed Kaplan Family Institute for Innovation and Tech Entrepreneurship, Illinois Institute of Technology


In the frenzied startup world where growth is the only real gospel, we're so taken with the idea of sheer size and the need to get "bigger quicker" that we sometimes lose sight of the fact that not everything that matters in life is about scale. The biggest crowd, the largest parade, the loudest voice, the most sales, etc. is only a small part of the story.

Sometimes, it's just as important to take the time to do something small and special, just because it's the right thing to do and needs to be done. No act of kindness or generosity --however small or modest-- is ever wasted. And it seems like we need a boatload of simple acts of kindness and charity these days just to try to help keep things in our country from running further aground.

These are harsh and difficult times. In my entire lifetime, I have never witnessed such disheartening and indiscriminate displays of political power and personal pettiness by our representatives on both sides of the aisle in Washington-- although today it feels more like a sewer.  And I'm afraid that sorry show shows no sign of abating any time soon.

But it's in these very kinds of hard times, when you can take a few moments to give someone else a helping hand (with no expectation of reward or recognition) that you somewhat restore your belief, hope and faith that things can get better. And you realize that you always get a lot more out of giving than you do from all the getting that occupies so much of the time and effort in our daily lives. Sometimes, in moments like these, the smallest things can take up the most room in your heart for a fleeting moment or two and remind you of the good that exists in most people and in most parts of the country.

And for those of you who might say that you don't have time for organized or even random acts of charity, or that you can't afford to take your eye off the ball even for a moment, I'd say that it's really important to whatever you're trying to accomplish that you find a little time to make a difference in a life other than your own. I like to remind young entrepreneurs that there's always more work, but you only have one family. Seeking the same equilibrium is just as essential in your business as well.  If you don't get the balance correct between "making a living" and "making a life" right from the start, I can guarantee you that you won't like what you ultimately grow into. Your business will suffer just as much as your personal life.

More to the point, establishing a company culture that cherishes purpose as much as profit has never been more essential or more critical to the success of new businesses than it is today. That culture starts from the CEO and is built through the day-to-day actions of the people in the business and from continued demonstrations of solid commitments to serious principles. This kind of culture is not built through spiffy slogans or endless conversations.

Show me, don't tell me. Or else I'll find a better place to be. The best and most talented employees today don't work for a company.  They work for a reason and a purpose.  And if your business can't demonstrate a purpose backed up by behaviors aligned with what they're looking for, they'll leave-- typically in less than a year. This isn't a situation where you eventually get around to doing it. Get started now before they get going out the door.

Today, because our time is so scarce and the demands on it are so great, we all kid ourselves into believing that there will be all the time we need later in life to do those good deeds and give back in meaningful ways.  Then one day, in the not too distant future, we wake up to find that the time and many of the most important opportunities have passed us by. That's why there's no better time than the present to take up the task and get started.

It's not that hard to help and to make a difference. And just remember when you wonder if even the simplest gesture matters that it's scale that doesn't matter; what matters is sincerity, real interest and simply stepping up.

The difference that your efforts can make in even a single life are incalculable and the impact can be immediate and life-changing. Start today.

Tuesday, August 28, 2018

New Kaplan Institute Building Tour

Why Cleaning House Can Create a Bigger Mess


Why Cleaning House Can Create a Bigger Mess
Replacing the CEO of a struggling startup is relatively easy. But when the new boss then decides to obliterate existing top management, the troubles seem to multiply.

Executive director, Ed Kaplan Family Institute for Innovation and Tech Entrepreneurship, Illinois Institute of Technology


I have been concerned for a while now--even as the stock market continues to lurch upward and carry tech stocks to new heights-- that things are getting tougher in the trenches. Securing follow-on financing is more challenging these days and investors are both more realistic and more demanding as well as far less patient than they've been in the past. Not good news for newbies. 

I'm also seeing strategics take a step or two back and disappear at the last minute from deals that were "done" but for the ceremonial dinner. Except that they weren't all done and the businesses waiting to cash those checks blew up instead of celebrating. From the corporate's perspective, it's a lot better to have wasted a bunch of time examining a deal than to lose a lot of money investing in a bad one. In the first case, it's likely to lead to a slap on the hand while the other's gonna be a kick in the pants.

Maybe this is all an investor reaction to the reduced upside and liquidity (ease of exits) that the market is currently offering as compared with the risks, brain damage, and multi-year struggles that even the best of startups represent. When things are taking longer to blossom, and the far-off promise and remote horizon of actual profits continues to recede, the idea of making 50% to 100% returns on your money every 6 months with a couple of phone orders to buy stocks like Stitchfix or Netflix starts to look awfully attractive.

But there's a bigger issue for the entrepreneurs running businesses that are now caught (hopefully momentarily) in that nasty space between nothing and nirvana.  Boards and investors start to get antsy, too, and look for quick fixes, fire sale liquidations, or-- perish the thought-- changes in management. The typical tenure of a startup CEO isn't that long to begin with and when everyone is looking for "change" -- without any real idea of what that means for a particular business--it's easy for the person running the business to feel like there's a target painted on his or her back.

This is not a happy prospect, and I think we are gonna see a lot more coming. But I'm actually okay with replacing the CEO when the ship has stalled and there's no real salvation in sight.  The problem is with directors and investors who bring in a new leader who then shows the rest of the management team the door. In this ritual house cleaning the new CEO too often ends up throwing out the baby with the bath water.

If this kind of wholesale dumping of the incumbent C-level team is even arguably appropriate, then both the board and the prior CEO have been asleep at the switch for years. And I'm seeing this happen every week now in larger and smaller businesses, where the mantra of change (almost for change's sake) without any real guidance, direction or plan is the flavor of the week.  Instead, it's another way for investors and directors to buy time, ignore certain obvious realities about the business, and watch while the deck chairs are shuffled for the umpteenth time.

So, here are a few hints for both incoming CEOs and the boards that bring them in:

(1) The new CEO doesn't know where all the bodies are buried and what closets hold the most skeletons, but others on the team do know. So, even if they aren't the best bet for the business in the long run, tossing them out prematurely is a sure formula for failure. And, I might add, the board doesn't really know the new CEO that well either on Day One; giving the new leader unlimited license and adopting a laissez-faire approach makes very little sense. You don't have to look any further than the revolving doors at Hewlett Packard over the last ten years for clear evidence. Counting on your search firm to get the pick 100% right is equally foolish. Even the best headhunters suck at telling you the real story--they're just looking to close the sale.

(2) Adding a bunch of new people to any enterprise at the same time (even if they've previously worked with each other at different places and under different circumstances) exponentially increases the risks of making major mistakes in the early going. Changes, especially in company culture, don't come easily and they rarely begin until the new management starts taking actions rather than just talking about what's going to happen. But, if a half dozen people are running around and making random decisions (especially about people) before there's even a clear alignment on direction and strategy, the message to the rest of the business couldn't be any worse or less productive. Measure twice, cut once.

(3)  Your key employees (the ones you need to keep and re-recruit to the new mission) and your most important customers are also likely to be plenty nervous about the changes being made and looking for as much stability and continuity as possible. In every case I've seen, senior people who were quickly shoved out not only knew a great deal about the business, they also knew and had long-standing personal relationships with a lot of the key customers.
Here again, some of those relationships and even customers may not have been helpful (or even profitable), but you can't really determine that without spending some time looking under the covers.  That's why it helps to have a few knowledgeable people on board to assist and guide you in that process of discovering what's what.

Bottom line: wholesale house cleaning without taking the time to do it right can be very hazardous to the health of your business.

Are You Planning a Trip to Mars? Why It's Important to Dream Big


Are You Planning a Trip to Mars? Why It's Important to Dream Big
Elon Musk may be having some very down-to-earth problems at Tesla, but his SpaceX venture shows the value of reaching beyond the ordinary and the proven. To hell with small gains.



If you just want to get what you’ve always gotten, keep doing what you’ve always done. If you want to change the old rules and get better, you’ve got to start aiming higher and thinking bigger. There’s always a best seat in the house, the best row at the show, and something desperately worth shooting for which we all know that you may not always get. But shame on you if you don’t at least go for it. If you don’t ask, the answer is always “No.” 

And today, I think there’s no better example of reaching for the stars for companies and entrepreneurs of every size than SpaceX and its semi-combustible founder Elon Musk.
Notwithstanding Elon’s current angst at his automobile firm, Tesla -; which is about nuts-and-bolts production, not vision -; the SpaceX engine that he built (almost as an afterthought) continues to fire on all cylinders. SpaceX is making the impossible seem commonplace and raising the bar for big dreams being backed up by awesome deliverables. Dockless bikes, slick little scooters, and new offerings of gluten-free whatever all seem depressingly trivial compared with Elon’s grand ambitions.

Things in the space biz may take a little longer than expected, but some of the beneficial by-products may even turn out to be better than initially expected. The scale and the scope of what SpaceX has already achieved since it was founded in 2002 is unlike anything that has come before or after. Keep in mind that NASA was formed in 1958, more than 60 years ago, and these days it’s getting help from SpaceX in Hawthorne and taking Dream Chaser directions from the Sierra Nevada orbital vehicle builders in Louisville, Colorado. Jeff Bezos (Blue Origin) has been in the “space” business since 2000 and he’s got bupkes to show for it. Richard Branson is another big talker with Virgin Galactic, which he founded in 2004, but it seems that he’s perpetually “just six months away” from being in space. Don’t hold your breath.

And, as you might expect, seeing in this case just makes believing that much easier. You can't visit the SpaceX factory without coming away with the overwhelming impression that there's a palpable sense of possibility and the belief that virtually anything is achievable with enough time, effort, and perseverance. This isn't some cheap Silicon Valley talk or “pie in the sky” (no pun intended) prediction. It's an outgrowth and extension of an attitude that is as compelling as it is contagious. And that attitude is backed in facts and in demonstrable results. These people are hard-core professionals -; engineers and scientists -; who spend their days head down making things happen. Elon does the dreaming, scheming and sweating, but these are the hundreds of people who get the job done every day.

They might technically be manufacturing machines and missiles, but what they really make here are “believers.” People who believe that the world is leaning in their direction and that success (albeit over time) is far more probable (not just possible) than any other outcome. I wish you could bottle this attitude because it's such a special combination of pride and practicality as well as concrete grounding and vast visioning that I think we should add it to the drinking water at every school and startup in the country.

So, what’s the main message from SpaceX for the rest of us? We need to look further and wider if we’re going to up the ante, make major changes, and leapfrog the competition.  Using the best available data and basing our plans, programs and designs on real metrics and milestones (rather than make-believe) is an essential methodology. But, if it’s the only view you have of the future, you’ll find that your focus is far narrower than it should be and that your energies end up being directed mainly to short, sure wins instead of big jumps and new horizons.

This conservative approach leads to designs and choices that tend to be marginal improvements and incremental gains rather than game-changing moves. Successive approximation and consistent iteration are great tools (“getting a little better every day”), but the key word is “little” and what we need more and more of are bigger leaps and longer look-aheads.

Simply trying to keep getting closer and closer to a known goal is not enough, because that approach and that perspective can often keep us from looking further down the road and really thinking about going for the gold.  

Sunday, August 19, 2018

Kaplan Institute Exec Director Howard Tullman Keynotes ICPAS Summit




How to Get the Most Out of College Frank Bruni


How to Get the Most Out of College
They’re privileged, pivotal years. Navigate them with as much care as you did the path that got you there.

Opinion Columnist
We overwhelm teenagers with advice about choosing a college. Go big. Go small. Put prestige above cost. Do the opposite.

We inundate them with tips for getting in. Spend summers this way. Write essays that way. Play a niche sport. Play an obscure instrument.

And then? We go mum, mustering less urgency and fewer words for the subject of actually navigating the crucial college years to best effect. It’s strange. And it’s stupid, because how a student goes to school matters much, much more than where.

So for several years — during visits to campuses, interviews with experts on higher education and interactions with recent graduates — I’ve been gathering wisdom along those lines.

My interest isn’t which types of programs at which kinds of institutions yield the surest employment and highest salaries. That information is already out there and always changing. I also worry that it casts college as purely vocational and plants the false notion that, at the age of 18, you know yourself well enough to plot out the entirety of your professional life.

My focus is on optimal ways to socialize, to prioritize, to pick up skills integral to any career and to open up exciting opportunities both en route to a degree and after you’ve acquired it. Not nearly enough of the roughly 20 million Americans who are beginning or resuming college over the coming weeks pause, in their trepidation and exhilaration, to think about that.

Many don’t have the luxury: College for them is a slapdash scramble to grab credits as they can while working a demanding job, caring for family members or both. More than a third of the students enrolled in higher education in this country attend two-year institutions. Those at four-year institutions often don’t participate in the romantic ideal of nurturing dormitories and verdant quadrangles. They live with parents. They pray for parking.

But others do have the freedom to tailor their time. They just neglect to take advantage of it. My friend Eric Johnson, who provides guidance to underprivileged students at my alma mater, the University of North Carolina at Chapel Hill, put it to me this way: “The more you regard college as a credentialing exercise, the less likely you are to get the benefits.”
Johnson is as thoughtful and insightful about higher education as just about anyone I’ve come across. The wisest students, he said, “move into a peer relationship with the institution rather than a consumer relationship with it.” They seize leadership roles. They serve as research assistants.

And they build social capital, realizing that above all else, they’re in college “to widen the circle of human beings who know you and care about you,” he said. That’s perfectly put.
Many students, nervous about a new environment, follow friends from high school or people whose demographic backgrounds match their own into homogeneous cocoons. That can indeed provide solace and support. But it’s also a wasted opportunity — educationally, morally, strategically. Diversity opens you to an array and wealth of ideas, and being comfortable with it is an asset in just about any workplace or career. You can decide to establish that comfort in college.

But perhaps the most important relationships to invest in are those with members of the school’s faculty. Most students don’t fully get that. They’re not very good at identifying the professors worth knowing — the ones who aren’t such academic rock stars that they’re inaccessible, the ones with a track record of serious mentoring — and then getting to know them well.

As part of my research, I collected surveys from about 30 recipients of the prestigious Mitchell scholarship, a rough analogue of the Rhodes that sends 12 recent American college graduates every year to universities in Ireland to pursue master’s degrees. (I was on the panel of judges who selected the winners from 2015 through 2017.) I asked them to reflect on college and to rank, in order of importance, such activities and dynamics as coursework, travel abroad, internships, relationships with classmates, involvement in campus groups and reading done apart from any class obligation.

Relationships with faculty members was also an option, and it was the clear winner, placed near the top by almost all of the scholars and at the top by many, including Azza Cohen, a documentary filmmaker who graduated from Princeton in 2016. To explain that ranking, she directed me to a 2014 essay of hers for The Daily Princetonian that was titled “Empty Chairs.” It charted her realization and regret that she and so many classmates skipped professors’ office hours and didn’t avail themselves of invaluable conversations and counsel. “In the routine rush to finish our assignments, sometimes the breadth of the surrounding intellectual force field slips our minds,” she wrote. She was then a sophomore, and she mended her ways.

Reading her essay, I was reminded of an interview I did several years ago with Condoleezza Rice, the former secretary of state, about her days at the University of Denver. She said she liked to sign up for the front end of office hours, because she wanted to catch professors when they weren’t feeling depleted and watching the clock. She read up on professors beforehand and, if their written work was accessible, familiarized herself with it, so she could make mention of it. That flattered them and pegged her as a serious, considerate person.

Taking that too far, of course, could be repulsively obsequious. The correct calibration is everything. And it’s worth acing, because a professor or administrator who takes a genuine interest in you can be a bridge to other influential people inside and outside the school, to limited-space seminars, to special collaborations, to exclusive summer programs, to competitive internships, to graduate work and more.

Damian Walker saw that at U.N.C.-Chapel Hill, from which he graduated last spring. “The most influential thing I did here was find mentors,” he told me. And he found them largely by opening up to them.

Walker attended U.N.C.-Chapel Hill as a Carolina Covenant scholar, which means that his family was poor enough for him to qualify for full financial aid. He told me that early on he went to an open campus discussion about police violence against minorities. Several faculty members were also there, and he approached Judith Cone, the vice chancellor for innovation, entrepreneurship and economic development.

“I didn’t know who she was,” he recalled. “Short lady. I shared my story about how police shootings affected my life, my family. She gave me her business card and said, ‘Follow up.’ I still have that business card to this day.” He went to see her in her office and kept going to see her in her office, and with the encouragement and help of her and other faculty members, he cobbled together the money to go to an educational conference in Massachusetts, to meet with entrepreneurs in New York City and to spend the summer between his junior and senior years interning for a company in China. He’s about to head back to China to teach English for a while. He’s well on his way to fluency in Mandarin, which he thinks will give him a definite edge in any future business career.

Walker is an example of what a mammoth study by Gallup, Purdue University and the Strada Education Network has found. Previously known as the Gallup-Purdue Index and now called the Strada-Gallup Alumni Survey, it has questioned about 100,000 American college graduates of all ages about their college experiences, looking for connections between how they spent their time in college and how fulfilled they say they are now.

The study has not found that attending a private college or a highly selective one foretells greater satisfaction. Instead, the game changers include establishing a deep connection with a mentor, taking on a sustained academic project and playing a significant part in a campus organization. What all of these reflect are engagement and commitment, which I’ve come to think of as overlapping muscles that college can and must be used to build. They’re part of an assertive rather than a passive disposition, and they’re key to professional success.
I’m not saying that this is a cinch, nor am I ignoring the demons in the way. Anxiety and depression are legion on campuses today, holes that too many students fall into and never crawl out of. More than ever, students should be on the lookout for them and take the necessary steps to mitigate them.

Be careful, especially at the beginning of college, about spending too much time alone. Isolation can become its own bad habit, and prying eyes can be the best insurance policy against destructive behavior. Regulate time on social media, where discourse can be barbed and peers curate honeyed alter egos that stoke insecurity in those looking at them. Don’t drink too much and don’t shortchange sleep, as prosaic as that sounds. And work out in some way.
“We know that exercise is very, very important,” said Jan Collins-Eaglin, the associate dean for wellness at Pomona College in Southern California. “It will calm you down.” She noted, too, that many schools have invested in their mental health services but that many students hesitate to use them. “Seeking help is not taboo,” she said. “If you get over that, you are one step ahead of the game.”

One crossroads that students often get needlessly worked up about is choosing a major. It’s less make-or-break than you think. I hear that from a majority of thriving college graduates, and the professors I speak with strongly caution students against wedding themselves to a single field of study before being exposed to several of them. College’s greatest gifts can be an introduction to a passion you didn’t previously have and a pivot into an occupation you never before envisioned.

“You have to ask yourself what lies closest to your heart,” said Jim Gates, a renowned theoretical physicist at Brown University who previously taught at the University of Maryland and M.I.T. “If you are fortunate enough to find something that you’re totally obsessed with, you’re likely to work very hard at it. If you’re a human being of average intelligence and you work very hard at something, you’re likely to become very good at it. And if you become very good at it, people are likely to notice.” That means they’re likely to employ and reward you as well.

Regardless of major, there are skills to insist on acquiring because they transcend any particular career. Communication — clear writing, cogent speaking — is one of them, and many different courses can hone it.

Another of those skills, frequently overlooked, is storytelling. It’s different from communication: a next step. Every successful pitch for a new policy, new product or new company is essentially a story, with a shape and logic intended to stir its audience. So is every successful job interview. The best moment in a workplace meeting belongs to the colleague who tells the best story. So take a course in Greek mythology, British literature, political rhetoric or anything else that exposes you to the structure of narrative and the art of persuasion.

I asked Mitchell scholars if there was a department or discipline that they wished they had paid more heed. Science majors mentioned humanities. Humanities majors mentioned computer science and statistics. In retrospect, if not in real time, intellectually curious people appreciate and want the benefits of balance. So incorporate it, to some degree, in your college years.

Several Mitchell scholars also fretted that they’d lost out on some of what college had to offer by sticking to predetermined scripts, sweating perfection and avoiding risks. That dovetailed with a concern that many professors articulate to me — that students aren’t learning to stumble and to right themselves, which they can do in college with lower stakes than later on.

One of those scholars, Aaron Kurman, who graduated from the University of Virginia in 2005 and now works as a human rights lawyer in Israel, copped to all of that and more, writing: “I didn’t learn how to fail. I didn’t learn how resilient I was. I didn’t learn to distinguish between what was truly important to me and what I was doing because I thought it was important in others’ eyes. I didn’t learn how freeing it is to pursue what drives you even when others whose opinions you deeply value don’t understand or support it. I didn’t learn the value of doing something truly open-ended, where you don’t already know at the outset what you are going to do next.” All of that came later. But it could have come in college — at least the beginnings of it.

Something else that can come in college is an enormously expanded self-knowledge that translates into a hugely improved design for living. But that hinges on an adventurous spirit, especially outside the classroom.

“The mistake is to confuse career success, financial success and reputation with happiness,” said Andrew Delbanco, a Columbia University professor who is the president of the Teagle Foundation, which promotes liberal arts education, and the author of the 2012 book “College: What It Was, Is, and Should Be.” Delbanco added that an important component of real contentment is figuring out what lights your emotional and intellectual fires, not necessarily for the purpose of a job but for the purpose of reflections and pastimes that fill in all those hours away from work.

Is it poetry? Music? Sport? Those and more are abundant on college campuses. “You’re trying to shape a life that leads you to a happy place,” Delbanco said. Let college do precisely that.


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