Friday, January 23, 2015

STL Executives Weekly Recognition: Dan Moros

Name: Dan Moros
 

Hometown: Webster Groves, MO


Start Date with STLX: January, 1st 2014

 
What is your greatest strength?
Having fun and being able to talk to anyone!
 

Favorite place to Travel: Anywhere above 90 F on a beach; I don't need much.

What is your favorite part about working at STL Executives?
I have the ability to grow exponentially in the business world as well as having great personal development, all while having a blast!

 
Favorite Quote: 
“Life is like a dog race; if you're not the lead dog, the scenery changes.”

 
Fun Fact:
I lived in Florida for two years.
 
Favorite STL Executives memory?
Winning a throw-down and making Tim sing a Karaoke song!

 
Who would you like to thank?
My coaches, my family and the academy

Here's The No. 1 Predictor Of Career Success, According To Network Science

Here's The No. 1 Predictor Of Career Success, According To Network Science

steve jobsJustin Sullivan/GettySteve Jobs.

It has been over three years since Steve Jobs died.
Since then, books have been written and movies have been made.
Each has celebrated his legacy and aimed to share the secrets he used to build the largest company in the world; things like attention to detail, attracting world-class talent and holding them to high standards.
We think we understand what caused his success.
We don't.
We dismiss usable principles of success by labeling them as personality quirks.
What's often missed is the paradoxical interplay of two of his seemingly opposite qualities; maniacal focus and insatiable curiosity. These weren't just two random strengths. They may have been his most important as they helped lead to everything else.
Jobs' curiosity fueled his passion and provided him with access to unique insights, skills, values, and world-class people who complemented his own skillset. Jobs' focus brought those to bear in the world of personal electronics.
I don't just say this as someone who has devoured practically every article, interview, and book featuring him.
I say this as someone who has interviewed many of the world's top network scientists on a quest to understand how networks create competitive advantage in business and careers.

The Simple Variable That Explains What Really Causes Career Success

In December of 2013, I interviewed one of the world's top network scientists, Ron Burt. During it, he shared a chart that completely flipped my understanding of success. Here is a simplified version:
Burt_Success_Final
 
The bottom line? According to multiple, peer-reviewed studies, simply being in an open network instead of a closed one is the best predictors of career success.
 
In fact, the study shows that half of the predicted difference in career success (i.e., promotion, compensation, industry recognition) is due to this one variable. 
 
Do you ever have moments where you hear something so compelling that you need to know more, yet so crazy that you'd have to let go of some of your core beliefs in order to accept the idea?
 
This was one of those moments for me. Never in all of the books I had read on self-help, career success, business, or Steve Jobs had I come across this idea.
 
I wondered, "How is it possible that the structure of one's network could be such a powerful predictor for career success?"

How A Closed Network Impacts Your Career

To understand the power of open networks, it's important to understand their opposite.
Most people spend their careers in closed networks; networks of people who already know each other. People often stay in the same industry, the same religion, and the same political party. In a closed network, it's easier to get things done because you've built up trust, and you know all the shorthand terms and unspoken rules. It's comfortable because the group converges on the same ways of seeing the world that confirm your own.
To understand why people spend most of their time in closed networks, consider what happens when a group of random strangers is thrown together:
David Rock, the founder of the Neuroleadership Institute, the top organization helping leaders through neuroscience research, explains the process well:
We've evolved to put people in our ingroup and outgroup. We put most people in our outgroup and a few people in our ingroup. It determines whether we care about others. It determines whether we support or attack them. The process is a byproduct of our evolutionary history where we lived in small groups and strangers we didn't know well weren't to be trusted.
By understanding this process, we can begin to understand why the world is the way it is. We understand why Democrats and Republicans can't pass bills with obvious benefits to society. We understand why religions have gone to war over history. It helps us understand why we have bubbles, panics, and fads.

The Surprising Power And Pain Of Open Networks

People in open networks have unique challenges and opportunities. Because they're part of multiple groups, they have unique relationships, experiences, and knowledge that other people in their groups don't.
This is challenging in that it can lead to feeling like an outsider as a result of being misunderstood and under-appreciated because few people understand why you think the way you do. It is also challenging, because it requires assimilating different and conflicting perspectives into one worldview.
In one of my all-time favorite movies, "The Matrix," the main character, Neo, is exposed to a completely new world. Once he is, he can't go back. He's an outsider in the new group, and he's an outsider in his old life. He's had an experience that everyone he's ever met would never understand. This same phenomenon happens when we enter new worlds of people.
On the other hand, having an open network is a huge opportunity in a few ways:
  • More accurate view of the world. It provides them with the ability to pull information from diverse clusters so errors cancel themselves out. Research by Philip Tetlock shows that people with open networks are better forecasters than people with closed networks.
  • Ability to control the timing of information sharing. While they may not be the first to hear information, they can be the first to introduce information to another cluster. As a result, they can leverage the first move advantage.
  • Ability to serve as a translator / connector between groups. They can create value by serving as an intermediary and connecting two people or organizations who can help each other who wouldn't normally run into each other.
  • More breakthrough ideas. Brian Uzzi, professor of leadership and organizational change at the Kellogg School of Managementperformed a landmark study where he delved into the tens of millions of academic studies throughout history. He compared their results by the number of citations (links from other research papers) they received and the other papers they referenced. A fascinating pattern emerged. The top performing studies had references that were 90% conventional and 10% atypical (i.e., pulling from other fields). This rule has held constant over time and across fields. People with open networks are more easily able to create atypical combinations.
As a result of pursuing his curiosity in different fields throughout his life, Steve Jobs developed an extremely unique perspective, skillset, and network; one that no one else in the computer industry had. He turned these unique advantages into the largest company in the world by having a razor sharp focus. Within Apple, he cut out people, products, and systems that weren't world-class.
Curiosity-Based Experience Application
Tinkering with machinery with his fatherUnderstanding craftsmanship and attention to detail
Dropping out of college and sitting in on a calligraphy classAppreciation of design (Macintosh's varied fonts)
Exploring India and BuddhismApple's simple aesthetic
Living on an Apple orchardThe inspiration for the Mac logo
Pursuing his hobby electronics in the Home Brew computer clubCreating the first Mac with Steve Wozniack
Starting NeXT during his wilderness years.Using NeXT's operating system as a core in the new MAC operating system
Lifelong passion for music (particularly U2, Beatles, John Lennon)Launch of iTunes
 
Many are quick to label parts of Steve Jobs' life as the "lost" or "wilderness" years. However, when we view his life in retrospect, we see that his diversions were critical to his success.
What is labeled as the magic of Steve Jobs or the quirks of his character become replicable principles we can all follow.
It is from this vantage point that we can begin to understand the following quote from a Steve Jobs interview for Wired in 1995:
Creativity is just connecting things. When you ask creative people how they did something, they feel a little guilty because they didn't really do it, they just saw something.
It seemed obvious to them after a while. That's because they were able to connect experiences they've had and synthesize new things. And the reason they were able to do that was that they've had more experiences or they have thought more about their experiences than other people.
Unfortunately, that's too rare a commodity. A lot of people in our industry haven't had very diverse experiences.
So they don't have enough dots to connect, and they end up with very linear solutions without a broad perspective on the problem. The broader one's understanding of the human experience, the better design we will have.

Stay Hungry. Stay Foolish.

Throughout human history, all societies including our own have created myths that share one common element, the hero's journey.
Here's what the journey looks like according to Joseph Campbell, the originator of the term …
Things are going great. You feel normal and fit in. Then something happens and you change. You start to feel like an outsider in your own culture. You hide parts of yourself to fit in, but that doesn't help. You feel called to leave and fulfill part of yourself, but that has a lot of uncertainty. So, you hesitate at first.
Finally, you take the plunge. You go through difficult times as you're learning to navigate the new world. Finally, you overcome the challenges. Then, you go back to your old culture and have a huge impact because you share the unique insights you've learned.
The hero's journey myth is embedded in everything from our society's classic movies (i.e., "Star Wars") to the heroes we glorify (i.e., Steve Jobs) because it hits on core parts of the human experience.
The field of network science shows us two things. The hero's journey is the blueprint for creating career success. We can all be heroes. It just takes a little faith as you follow your heart and curiosity into unknown worlds.

Wednesday, January 7, 2015

STL Executives Weekly Recognition: Jeff Farrah

Name: Jeff Farrah
 

Hometown: Winfield, MO


Start Date with STLX: July, 3rd 2014

 
What is your greatest strength?
I am extremely positive and personable with a great work ethic and desire to succeed.
 

Favorite place to Travel: Tikal, Guatemala

What is your favorite part about working at STL Executives?
The opportunity the company provides me and the people that share that opportunity with me. 

 
Favorite Quote: 
“It has to start somewhere, it has to start sometime, what better place than here, what better time than now.”

 
Fun Fact:
I am probably the best strategic monopoly player I know.
 
Favorite STL Executives memory?
Watching a large scale promotion and the emotion and pride that poured from the individual receiving the promotion.

 
Who would you like to thank?
All of my STL Executive cohorts, my roommates for their support and my family and friends for everything they do for me!

Why Sales is the Best First Job

Why Sales is the Best First Job
Somen Mondal

Co-Founder & CEO at Ideal Candidate | Entrepreneur of the Year Winner

Why Sales is the Best First Job

I often speak to students, whether undergraduates or MBA students, and I keep hearing the same question, “I don’t know what I want to do. What type of job should I look for?” Unequivocally, my answer is simple: get a job in sales.
My first summer job in high school was working at Lotus Software (remember Lotus 123…? I think Lotus Notes still exists!) and my job was to call customers and update their database/CRM. This introduced me to the world of getting people’s attention and convincing them to give something up. Although this wasn’t a real sales job, it was a precursor. My first real foray into sales was forced upon me when I started my first company. I was forced to cold call and close deals. This is the single best experience I received in my career. The strengths and strategies I gained through selling have helped me immensely throughout every aspect of my career. In fact, a survey of Harvard Business School graduates rated the biggest skills gap they had before founding their company was “a lack of sales experience.”
Here are my three reasons why sales is the best first job.
1. Sales is everywhere
Why do I tell people to get sales experience? In my opinion, being able to sell is the foundation of any successful career. It doesn’t matter what you are doing, there’s always some aspect of selling involved. Even if you aren’t directly selling a product, you might need to convince someone to hire you, which is just selling yourself. If you’re the CEO of a huge publically traded company, you need to sell your vision to your shareholders. Even as a Ph.D. student, you need to sell your ideas to receive funding and publish. Don’t just take my word for it - a survey of business leaders by Hult International Business School ratedstrong sales skills as a top 10 critical skill of today’s workplace.
2. Speaking ability
Being able to articulate your ideas and speak eloquently is important in any career. When it comes to speaking and speaking well, practice makes perfect. There is no other profession that allows you to continually practice and get better at speaking and connecting to people. A common trait amongst great leaders is their ability to inspire through speech. This is one of the best things that sales teaches you.
3. Confidence
Closing deals and getting better at sales made me much more confident. I’d always thought growing up that I was somewhat of a geek and could never sell. Gaining experience in sales - talking to perfect strangers and turning them into your customers and even friends - definitely increased my confidence. I don’t need to tell you how much this boost in confidence is incredible for your career and life in general.
Whether you’re looking for a summer job, your first (or your last) job, or a change in career, sales is an amazing experience that will be invaluable to you forever.

10 Trends for 2015 You Better Pay Attention To

10 Trends for 2015 You Better Pay Attention To

Keep a close eye on the future and how it will affect your business--it will be here before you know it.
 
 
IMAGE: Getty Images
Every large business in the world keeps a close eye on customer trends and demographics--they have to if they hope to be selling the right products and services to the right customers at the right time.
Ford Motor Company recently published its 2015 trend report, and no matter what size your company is--or in what industry it does business--the results are extremely valuable for any company.
Here, according to Ford, are the 10 trends to pay close attention to in 2015:
1. Make way for Gen Z
While you shouldn't yet forget about those baby boomers and Gen-Xers, it's time to get the latest generation--Gen Z--onto your business radar screen. Worldwide, there are more than two billion members of Gen Z (defined as anyone born after 1993), and according to Ford, the mantra of this generation is "Good things come to those who act." Their dream is to make an impact on the world, and they aren't going to let anything stop them from doing just that. Compared with members of Gen Y, 55 percent of Gen-Zers are more likely to want to start a business and hire others.
2. Rally for renegades and rebels
Members of Gen Z reject the status quo and conventional wisdom, and they enjoy going against the grain. They are giving both their attention and their money to people and companies that are unconventional and that are willing to take risks and break the rules. They love crowdfunding platforms like Pozible and Kickstarter, which allow them to support creative products and innovative projects. How would you answer this question? "I'm drawn to companies and brands that are rebellious." In the U.S., 46 percent of adults under the age of 35 agreed with this statement--fewer than in China (57 percent), but more than in Japan (42 percent).
3. Flaunting failure
Instead of being something to be ashamed of, failure is considered among the members of Gen Z to be a badge of honor--it shows that you're willing to push the envelope and take risks. Just as many online software platforms are in constant beta, so too are the members of Gen Z. They are constantly changing, evolving, trying new things, failing, learning lessons--and succeeding. As the Ford report puts it, people in Gen Z realize that "if you persevere, setbacks can indeed morph into success."
4. Carry-less movement
Gen Z doesn't like to haul purses or wallets or messenger bags to carry their essentials along with them. Instead, they are embracing and adopting mobile payment technologies such as Google Wallet, Apple Pay, and bitcoin. And they are using their smartphones--and the apps within them--to do all sorts of things, including opening hotel room doors, turning lights on and off in their homes, and arranging for grocery deliveries. More than one million people activated the Apple Pay payment app within 72 hours after it went live.
5. No strings attached
According to Ford's report, the members of Gen Z would rather rent or borrow than buy. "The result is an emerging 'à la carte' mentality that trumpets access over ownership." It's all part of the desire to collaborate and share with others, and to live with fewer material possessions. Not only do 76 percent of Americans think that sharing saves money, but 37 percent of U.S. adults ages 18 to 25 say they would choose to rent a product rather than purchase it.
6. Expanding "next of kin"
The 1950s ideal of the nuclear family--a husband, a wife, and two kids--has evaporated as the number of divorced parents, same-sex marriages, and individuals committed to perpetual singlehood continues to grow. According to the report, "As traditional families and communities become less common, the concept of family adapts, expands, and evolves in the most personal ways." Fully 76 percent of U.S. adults agree with this statement: "My definition of family includes good friends who aren't blood relatives."
7. Give and take of privacy
Younger people are much more sensitive and concerned about the ways that companies collect and use their personal information than are older people, and they will readily abandon businesses that they feel are abusing their trust. According to the report, 26 percent of teen social media users say that they post fake information on their profiles to protect their privacy.
8. Elusive health
Despite the fact that there are millions of articles available on the topic of health and well being, people are sicker, fatter, and less healthy than ever. While Gen Z is concerned about what they consume, 47 percent of Gen Z children will be obese by the time they become adults.
9. Escape artist
While former generations used to escape from the humdrum of their existence by watching a film or reading a book, the members of Gen Z are taking a decidedly different approach. They are formalizing escapism around taking sabbaticals from the world, scheduling "mindfulness" classes, and participating in particularly daring (and sometimes outrageous) activities. According to the report, 62 percent of all adults under the age of 35 say that they seek experiences they feel can't be replicated.
10. The many faces of mobility
Gen Z is more mobile, and less tied to place, than any previous generation. They are more transient, and look forward to the day when they may very well be able to travel into space--or beyond. According to Ford, "In an age of constant innovation, mobility has outpaced our definition of the word." While 80 percent of Millennials expect to work abroad during the course of their careers, chances are high that the percentage is even greater for the members of Gen Z.