Keenan 411

Jim Keenan is a Senior Sales Executive, Enterprise 2.0/Web 2.0 Connector, an Entrepreneur still trying to get it right, and a PSIA Certified Ski Instructor for Vail Resorts. Husband to Big E and father to four great kids. In a nut shell, I'm a Sales Guy. Life is good!

I’m Fighting the Loser

I’m fighting the loser tonight. The loser is the little guy in all of us who looks to sabotage our efforts.

What sucks about the loser is he only hurts us. He never helps us.

The loser tells us to do it later. He tells us we’re too tired. He convinces us it’s not our job. The loser blames others when we screw up so we don’t have to blame ourselves. The loser is behind most of our failings.

The loser knows when we are vulnerable. And that’s when he’s at his best. When we are tired, frustrated, down, and feeling helpless, the loser in us springs into action convincing us that it’s OK to deviate from our goals, to push off our objectives or to avoid our commitments. The loser does everything he can to make us fail, to lose. That’s why he is called the loser.

The loser has been working on me all night. I wanted to do a blog post tonight. But, I am not feeling well, I have ton of other work, I wasn’t coming up with any good blog ideas and I had to write the post from my Iphone. (doing an Iphone experiment).

This is the type stuff the loser loves. It’s the ammunition he uses to thwart your efforts He uses it to get you to blow off what is important and then convinces you it’s justified.

The loser was telling me I didn’t have to, it was OK.

The loser is a master. He knows how to distract you and get you to take your eyes off the goal.

The loser will win everyone once in awhile. He’s that good. The key is to beat him more than he beats you.

He almost got me tonight. But, in the end I just couldn’t let him have this one. It never feels good when the loser wins.

To get where you want to go in life you have to get good at beating your loser.

How do you beat the loser?

WAIT

W.A.I.T-

Why Am I Talking?

We like to talk. It makes us feel in control. We get heard, we direct the conversation.

The problem is, it doesn’t always get us where we need to go.

Talking delivers information. Listening determines what information to deliver. Thinking determines when to deliver it.

Talking prevents listening and thinking.

It’s easy to talk, it feels good. But, it rarely get’s us to where we want to go.

If you have something to say. If it’s important, if it follows good listening, if it follows good thinking, then say it.

If not W.A.I.T. and ask yourself . . . Why Am I Talking?

Hey, Wait A Minute

dishwasher

I started working at a really young age. I was 14 when I got my first job. I was a dishwasher for the Camelot restaurant. It was one of those gray haired tour bus stop restaurants on Cape Cod. It took me only a few nights to realize I didn’t like washing dishes. So I quickly moved up to bus boy. I was too young to wait tables.

One of the things I liked best about being a bus boy were the tips. I quickly realized that if I built good relationships with the waiters and waitresses and did a kick ass job I could make more money. The faster I cleared and reset the tables, the more I ensured customers water glasses remained full and the more I helped with the check out process the more valuable I became. And for busting my ass and being better than the other bus boys, they tipped me well.

I remember, one year I got a job where the tips were pooled. The waitstaff tipped out into a pool and then the tips were evenly divided among all the bus boys. I remember the first night, I was like, “Wait a minute.” I kick all these guys ass, why do I have to share my money. I can’t tell you the name of the restaurant. I don’t have much of a memory, but what I can tell you is I didn’t work there too long.

Sales is a reward business. Sales people, like busers and waiters, need to be compensated based on their own efforts. It’s motivating and equitable. If you have shared quotas, stop it now. That’s all that needs to be said about that. Just stop it.

Beyond sales, I’d like to see this extend throughout entire organizations. Imagine if a percentage of the legal organization’s salary was tied to an internal satisfaction survey? Imagine if sales rated marketing on how well they brought in leads and this rating determined their bonus. Imagine if HR were paid based on internal employee satisfaction. You can sign me up for that organization now. How different do you think an organization would be if everyone’s comp was, in one way or another, determined by how well they served their customers?

Pooled tips effected how much extra effort I wanted to put in and it will for your employees too. Create an environment were the people who kick ass get rewarded, immediately and more than those who don’t.

They will make sure your customers water glasses are ALWAYS filled!

Mentors Needed

mentors

My post on apprenticeship the other day got me thinking about mentors. We need more mentors!

I’ve never met a successful person who didn’t have a mentor, someone they looked up to who showed them the ropes, helped steer them in the right direction, acted as a sounding board, and provided support. Mentors serve a powerful role in the development of others.

I think there is an opportunity to provide more mentorship via Social Networks. Social media creates an environment allowing people with like interests and varying degrees of expertise to find each other. In an offline world, the experts, potential mentors, hung out with other potential mentors, while potential mentees (is this even a word?) loitered together. Rarely did the two meet. Online that all changes. Blogs, Twitter, Facebook, and Linkedin allow people of all skill levels and experience to engage. It’s mentor match-making heaven.

Being online also makes it easier and more fluid to provide mentorship. Understanding how much easier the Internet makes it, I can’t help but wonder if it is happening. Do you mentor anyone?

Increasingly, I am being asked to review others presentations, business ideas, podcasts etc. But, mentoring anyone, can’t say I’m doing that online. But I’m open to it. More of us should be. We didn’t get to where we are now by ourselves.

If I can help you, let me know. It would be my pleasure.

Bring Back Apprenticeship

About a month ago, I had dinner with Fred Wilson of Union Square Ventures. During dinner Fred shared with me how he got into Venture Capital. He started in 1986 with Euclid Partners. He knew a lot about computers and the computer industry, they didn’t. So they brought him on. Fred worked 10 years with that firm, 10 years! He worked on a lot of good deals and made them a lot of money. What I found most interesting about his story, is Fred never became a partner with the firm. Fred didn’t benefit from any of the exists, he was strictly an employee. What Fred did get from his 10 year investment was the education of a lifetime. He got an apprenticeship. A very valuable one.

Fred is now Sr. Partner and founder of Union Square Ventures (His second Firm, as he founded Flatiron Ventures in 1996.) Union Square has an impressive portfolio that includes Twitter, FourSquare, Disqus and Outside.in. Fred has also had some impressive exists, including Geocities. If you follow Fred on Twitter you know he has over 30,000 followers. His blog has over 50,000 subscribers and he blogs often about his experiences at Euclid and how they have helped him today. Fred has been quoted or referenced in a number of mainstream media including; Time Magazine, Newsweek and the New York Times. Fred has become somewhat of a celebrity in the VC and Social Media world. Yet, all this didn’t just happen because Fred put up a V.C. shingle. It happened because of his apprenticeship.

Apprenticeship seems to have gone the way of the dinosaur. A right of passage for many skilled laborer positions, the apprenticeship was the way many became experts in their craft. They would spend years studying under Masters and come out the other side Journeymen and then become Masters themselves. I love this practice. We need more of it. I would love to see apprenticeships for Venture Capital. I think many of the finance professions would benefit including, hedge-fund management, Private Equity firms and others. I would like to see technology apprenticeship for certain verticals, like medical, bio-tech, and communications. As our world becomes more and more complex, and more and more specialized, apprenticeships can add tremendous value.

Apprenticeships do more than teach a craft. They provide real world experience to the ups and downs of an industry. They allow industry secrets and nuances to be passed on. They create life lessons for the apprentice. They establish relationships. Principles, values and experiences are kept alive, as each generation gives to the next. Apprenticeships create entree into complex worlds.

Unfortunately, few seem to have the patience for an apprenticeship. The experienced don’t have the time to mentor and teach. The up and comers are too impatient and short sighted to “pay their dues.” I can’t imagine too many young people who would be willing to work for ten years for salary only, as Fred did, without becoming a partner. It’s unfortunate. There is a lot to be gained by both parties.

Becoming great at something takes time. It takes failure. It takes experience. It takes mentors. It takes support. It takes mistakes. Apprenticeship allows all this to happen and more. An apprenticeship is an investment on both sides and if done well, it’s one with huge returns for everyone. The apprenticeship needs a second wind. It needs new life. Like investment in companies, investment in people has just as big returns, and sometimes even bigger.

Fred’s first start-up investment was Fred Wilson Inc. He invested the first 10 years of his career in that property. I would say it is one of his best investments to date.

Are there some great apprentice programs you know about? I would love to hear about them. Share in the comments and I will update this post and help spread the word.

If you’re a VC reading this and have an apprenticeship program, I know a highly skilled Sr. Executive Sales Leader willing to make a change. :)

CORRECTION: Fred did eventually become partner, but left before a big payday.

I Suck!

I suck at a lot of things:

I’m easily distracted
I’m terrible with minutia and details
I can be terse
I’m terrible at time management
I work in spurts
I don’t like to be told what to do
I am disorganized
I will ignore the little things
I expect people to keep up with me and offer little information
I suck at follow through
I can quit on ideas and people too quickly
I can be resistant to learning when I don’t like something
I suck at writing and have terrible grammar, thank goodness for spell check
I suck at a whole lot more of things.

What I don’t suck at is knowing I suck and it keeps me from sucking at even more things. Knowing I suck allows me to get better at the things I suck at.

No one is good at everything. We all suck at a lot of things. The key is to know.

What do you suck at?

Motivating Sales People in Tough Economic Times

I was recently invited to do a podcast with Jerry Kennedy and Brad Trnavsky on a Sales2.0 blog. It was a fun discussion. We hit on a number of topics, including and old college story, I haven’t told in awhile. It made me laugh to revisit.

Motivating employees is the single most important thing we can do as leaders. Despite our own ego and what it tells us, we really don’t do much of anything. We get others to do it and this is no small feat.

In today’s NY Times there is an interesting article on Nancy Everett head of GM’s pension fund. I liked this quote about her:

“There is no such thing as an investment guru,” Ms. Handy said. “Your talent is in organizing the team so that they make the right decisions. Nancy is good at attracting talented people and retaining them and letting them make the right decisions.”

What makes this quote so poignant is it recognizes the key component to motivating people is empowering them with the autonomy to do their job.

During tough times companies tend to do just the opposite. They exert more control and give employees less ownership. This doesn’t serve anyone well.

Enjoy the podcast. I had fun doing it.

It’s No Longer Good to Be Anonymous

anonymousFor most of history, anonymity was the goal, especially in the U.S. Americans love their privacy. We have taken pain staking efforts to protect our right to privacy. The idea that people could know things about us, without our consent goes against everything we’ve stood for. For the entire 20th century Americans, and I suspect most of the world, tried their best to control what people could know about them. Much was done to limit personal information, for fear that too much information in the hands of others could be used against us.

In George Orwell’s classic book 1984, Big Brother learns of Winston’s fear of rats and makes him betray Julia, the woman he loves, by threatening him with rats.

The door opened again. A guard came in, carrying something made of wire, a box or basket of some kind. He set it down on the further table. Because of the position in which O’Brien was standing. Winston could not see what the thing was.

” The worst thing in the world “, said O’Brien, ” varies from individual to individual. It may be burial alive, or death by fire, or by drowning, or by impalement, or fifty other deaths. There are cases where it is some quite trivial thing, not even fatal.”

He had moved a little to one side, so that Winston had a better view of the thing on the table. It was an oblong wire cage with a handle on top for carrying it by. Fixed to the front of it was something that looked like a fencing mask, with the concave side outwards. Although it was three or four metres away from him, he could see that the cage was divided lengthways into two compartments, and that there was some kind of creature in each. They were rats.

” In your case “, said O’Brien, ” the worst thing in the world happens to be rats.”

Winston was petrified of rats. Big Brother knew this and used the information to control him. For most of our existence we’ve felt this way and Orwell’s scene brilliantly portrayed those fears by highlighting the most extreme examples of private information being exposed. Our country was founded on the idea that governments were corrupt and that our right to privacy was paramount to our protection. (There is still debate in the legal world on weather there truly is a “right” to privacy and whether or not it is protected by the 14th amendment.) But despite our history, privacy will not be our legacy. Anonymity is quickly becoming a liability not an asset.

Despite the best intentions and vision of our forefathers and Orwell, they could never have seen the Internet. The internet is creating a world and a culture where being invisible will make people just that invisible.

As more and more people join social networks. As sites like Twitter, Facebook, LinkedIn grow in popularity, they are being embedded into our daily lives. Not for entertainment but as part of day to day social and work routines. We are embedding these sites and others into our lives, and our work. We are beginning to rely on social media for our news, for our jobs, and for our relationships. The utility of social networks is growing and growing fast. This mass rush to join and use social networks is creating an interesting conflict; private vs. public and private is going to lose.

With more and more people available on line, via Facebook, LinkedIn, Blogs, Twitter, Beebo, etc. It is becoming common place to Google someone before engaging them. People are Googling each other before going on dates. Recruiters and employers are searching LinkedIn before they reach out about job openings. College admissions are reading Facebook and Myspace pages during the admissions process. Blogs are creating new industry leaders and experts. The number of followers a person has is beginning to have credibility. We are beginning to rely on the information we get about each other before we make decisions or engage one another. And if we can’t find information online, if someone doesn’t have some sort of online presence we dismiss them. Being invisible is beginning to have a cost, a big cost.

Moving forward, holding on to your information, tightly controlling what and when people can learn about you will put you at a decided disadvantage. The need to protect ourselves from the Government and misuse of information is quickly being usurped by the benefits and need to promote ourselves in order to compete. Our efforts need to move from protecting our privacy, to managing our privacy. The focus now needs to be on developing a strategy for our personal brand. We now have to learn self-promotion. We have to learn what information to share, how often, and in what channels. We have to be able to consciously share publicly about ourselves, who we are and the value we bring. We have to learn how to build and manage our personal brands by divulging our personal information. We are moving into an era where personal brand is as important as corporate brands. It won’t be OK not to have a brand. It won’t be OK to be anonymous.

Anonymity had its purpose and it’s place. But things are changing. Today and even more so in the not so distant future, anonymity will mean invisible, literally, and nothing good will good come from not being seen.

Knowing When to Say No

funny-flowerVery early in my career, one of my best friends said something to me.

He said; “Keenan, your an opportunist. That’s what makes you so good.”

My buddy was right, I am an opportunist. It may have been what’s made me good, but it’s also been my achilles heel. Early in my career, everything was an opportunity. I could see the benefit, the upside, the angle, the opportunity in almost everything in front of me. Like an over zealous Labrador puppy I would zero in on every opportunity and pursue them until I got them. This drive and ability to see opportunity served me well early in my career.

As my career moved a long a funny thing began to happen. This skill or trait of mine began to cause me problems. As the opportunities became more complex, with higher stakes, I began to fail more often. I would waste time chasing and at times catching opportunities that weren’t worth the effort. My naivete would get the best of me and although I would see great opportunities I would be ill equipped to capitalize on them. I would miss the risk. I would underestimate the effort. I would miscalculate the return. My greatest skill was now getting in the way.

As time has passed I’ve come to see why. The skill is not seeing the opportunity in everything, it’s being able to see the right opportunities among all the opportunities. Seeing the opportunities is the skill, choosing the right opportunities is the talent.

I was recently approached by a recruiter who represented one of our competitors about a significant position. After a short call with the recruiter, I expressed my interest. The opportunist in me took over. I could see tons of opportunity for my career, my bank account, and my personal development. As we ended the call the recruiter agreed to send me more information on the position and we were going to talk once I had a chance to read.

As I read the information, it occurred to me. This isn’t an opportunity for me. Although there were some opportunities, overall it wasn’t an opportunity. The competitor is a distant 4th in our space. Their North American revenue is less than 50% of my current companies. Our industry is expected to decline or stay flat over the next 3 years. Powerful new competitors such as Microsoft are entering the space and are a real threat to the legacy players. In my current position, I have never lost to this competitor. I don’t think this company can achieve a leadership position in our space.

Five years ago, I would have fought tooth and nail for this position. I would have done everything to get it. I would have zeroed in on the opportunities with tunnel vision and ignored, or justified the negatives. Today, I see it differently. I don’t want to work for the #4 or #5 company in our space. Our space is going through tremendous change. Enterprise communication is changing rapidly. Going to work with a back of the pack legacy company is not an opportunity. It’s a risk. My team would have to work twice as hard to compete. Recruiting top talent would be a huge challenge. Retention would also be a challenge. These and other challenges are amplified when you aren’t the leaders in your industry. And all of these things make the job that much more difficult. I don’t want to work for a company that isn’t positioned well to compete with the new competitors. I want to work were to work there is an opportunity to win. Therefore, I graciously declined moving forward.

Being an opportunist is great, you see thing others don’t. However the key is to see the RIGHT opportunities and until you do, know when to say no.

Do You Know CORF?

My recent post What Really Motivates Sales People generated some great conversation both in the comments here and on Linkedin. My most popular post to date, it’s clear people have a lot of opinions on behavior and how we are motivated to do things. The discussion reminded me of C.O.R.F.

224_mafioso-the-carrot-or-the-stick

I learned about C.O.R.F. early in my career at Born Information Systems. I talked about HOW I got the job at BORN in this post just the other day. C.O.R.F. operates from the simple assumption that people are motivated at work by 4 simple things and if your oganization can provide all four, no one will leave.

C.O.R.F-

Challenge – People are motivated by a challenge, they like to be pushed and stretched. People like to accomplish things of substance. Without a challenge people become bored and complacent which leads to disatisfaction

Opportunity – People are motiveated by opportunity, the ability to grow, gain more responsibility, move to differnt places, try different things and experience different roles. People need to feel they have opportunities to do different things, gain responsibility and grow as individuals.

Reward – People are motivated by being properly rewarded for their efforts and accomplishments. This can be in the form of money, recognition, awards, and more. People need to be feel they are appreciated and rewarded for their commitment to the company

Fun – People want to have fun where they work. They want to be able to enjoy their coworkers, hangup the phone and shutdown the computer and enjoy the company they work for. They want the job to be enjoyable. People want to smile, laugh and have fun where the work and with the people they work with.

Rick Born, the founder of BORN Information Systems came up with C.O.R.F. and built a $140 million dollar company around it in just 10 years.

I think Rick was onto something. If you worked at a place that challenged you, gave you opportunity to do different things and expand your career, rewarded you handsomely in both salary AND recognition and rewards for work well done and on top of it all was fun, would you leave?

Can you think of a time you left a company for any reason other than those. Sounds like pretty good motivation to stay to me.

Does your company embrace C.O.R.F.?

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