A Vision of Trouble and Hope

 

A Vision of Trouble and Hope

Ever had something that you wanted so badly that you started to imagine what it would be like having it?  Come on now?  How about that high school crush? Didn’t you dream what it would be like to be with him/her?  That vision probably made you make decisions on your actions.  Those actions moved you forward.

Visions are like that.  They give you direction and energy – two things you need in your career.  Most of the time we work on small visions like a new car or an outfit for a special occasion  but for a career you need a big vision and it can be scary to want something that big and that important.

My friend Sheila has a vision and it has given her energy to move forward even in adversity and has made her resilient and determined.  Sheila has had several careers during her life- first in the travel industry, then as a restaurant owner and briefly as a coach.

She also has two passions –dogs and children.  I actually think it is more that she is driven to help those who can’t help themselves. One way she has done that is by rescuing and placing dogs.

Her vision however came about while she and her niece watched the telethon for St Jude’s hospital. Her niece was moved by the sick children and wanted to give them hope.  She drew a picture of a cute dog and named him Trouble. “Where there is trouble there is hope.”  Sheila picked up on the idea and developed several products including a really loveable stuffed animal based on her niece’s drawing.

She sells these products but Sheila also has a big heart and has given many Trouble dogs away to children in the hospital and to veterans.  Yes veterans who love them as much as the children.  So what is her vision?  She wants to get Trouble into an animated cartoon series and for him and his message of hope to become a recognized brand.  To that end she has been busy networking her way to companies like Disney and PBS.

Undaunted by setbacks she keeps plugging away at it.  Her resilience is unbelievable.  Her formula for that resilience after a setback is:

  • To get quiet and listen to her inner voice
  • To let her inner voice find a way around the setback
  • To develop a plan of action based on what her inner voice tells her

The journey has had its moments of joy too.  She tells many stories of sick children who clasp Trouble when they go to bed at night or when they need to have painful procedure.  Bringing Trouble to veterans also gave her pleasure.  Some were concerned that the soldiers would think this was silly but they were very grateful.  Sheila never doubted this outcome for a minute.

Take a look at the pictures of Trouble with children, veterans and dogs on her website http://www.troublethedog.net.

If you have time listen to an interview with Sheila by Sally Felton.   The energy I spoke of is there in her voice. http://contacttalkradio.soundwaves2000.com:8080/ctr/salliefelton020812.mp3  http://tinyurl.com/78cyrw5

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Building a Law Practice? 10 Questions to help you

Are you looking for a way to build a law practice? If you want to build a more satisfying law practice one way to start is by creating a vision of your life and practice.  By having a clear picture of what you want, it will be easier to find the steps to get there.  It is worth spending time visualizing your law practice so that you can see more clearly what you need to do. I often do visioning with my clients by asking them to close their eyes and see themselves in their ideal workplace, home and community. If visualizing is difficult for you answering these 10 questions will provide another process to find your vision.

 

  1. What is most important to you?  If you have not defined your values yet, you may still request the TruValues assessment by sending me an email (asparker@asparker.com) or just think about what is most important to you.  You will want your vision to be aligned with your values so your life is focused on what is most important to you.
  2. What are the different roles that you have in your life (Father, son, brother, lawyer etc.)?  What changes do you want to bring to these roles?  How can you make these roles more satisfying?  Include these roles in your vision so you can see how your work and family life fit together.
  3. Where would you like to be in three years?  Five years? Ten years? Twenty years? What changes in your life do you anticipate over the next 20 + years?  How do you see your life evolving?  If you’ve never thought about this before, now is a good time to start.  It will give you a picture of what you are aiming for.  Notice I said “life” not just “career”.  Your career is only part of your life.  Where does it fit in?
  4. If you only had one year to live, how would you want to live it? This is another question to help you see what is most important to you.  Whether you want to complete something you are working on,  travel the world, or relax and enjoy your family the answer to this question will let you see what matters most.
  5. What would you do if there were no risk to doing it? This is a great way to see what you really want to do.  Your vision is your dream.  You don’t need to know how you will accomplish it.  You just must keep the dream in your mind as you make choices.  The actions you will take to achieve the dream will come later.
  6. What theme consistently runs through your life? This is an important one.  You may be known for something in your family.  Maybe something comes so easily to you that you do it for everyone.  There may be something you have done consistently over time in your work and in your leisure starting when you were young.  These themes are often hidden unless you think about it.  Take some time to uncover the themes.
  7. What kind of work exhilarates you? Your vision will include the kind of work that gives you pleasure-that energizes you.  As you uncover your vision look for examples of work that exhilarated you in the past.
  8. What would you like your legacy to be?  Your vision needs to be big enough to be challenging to you and memorable to others.  It also needs to be so attractive to you that it energizes you every day to make progress on it.
  9. What do you wish were different in your life today?  What would your perfect life look like? If you know what a perfect life would look like, you have your vision.  Start with the changes you would make today and then ask yourself if with this change life would be perfect.
  10. What gifts do you have that you are not currently using that you would like to use?  Not only do you want your vision to be aligned with your values but you will want to be using the gifts you have that you enjoy.  .

Bonus for Blog and Newsletter Readers

Would you like to try a visualization exercise with me?  I use a meditation like visualization in my coaching sessions that most find very helpful.  Join me at 12 noon Eastern Time on Wednesday February 15th for a 45 minute session on my conference telephone line.  We’ll do the visualization and then share our thoughts on the process.  Please email me at asparker@asparker.com to let me know if you would like to participate.  I’ll send you an email with the telephone number to use for the call.

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Need a New Career? 10 Questions to help you

Are you searching for a way to do meaningful work?  Do you need a more meaningful career?  If you need a new career one way to start is by creating a vision of your life and career.  By having a clear picture of what you want, it will be easier to find the steps to get there.  It is worth spending time visualizing your new career  so that you can see more clearly what you need to do. I often do visioning with my clients by asking them to close their eyes and see themselves in their ideal workplace, home and community. If visualizing is difficult for you these 10 questions provide another process to find your vision.

 

  1. What is most important to you?  If you have not defined your values yet, you may still request the TruValues assessment by sending me an email (asparker@asparker.com) or just think about what is most important to you.  You will want your vision to be aligned with your values so your life is focused on what is most important to you.
  2. What are the different roles that you have in your life (Mother, son, brother, manager etc.)?  What changes do you want to bring to these roles?  How can you make these roles more satisfying?  Include these roles in your vision so you can see how your work and family life fit together.
  3. Where would you like to be in three years?  Five years? Ten years? Twenty years? What changes in your life do you anticipate over the next 20 + years?  How do you see your life evolving?  If you’ve never thought about this before, now is a good time to start.  It will give you a picture of what you are aiming for.  Notice I said “life” not just “career”.  Your career is only part of your life.  Where does it fit in?
  4. If you only had one year to live, how would you want to live it? This is another question to help you see what is most important to you.  Whether you want to complete something you are working on,  travel the world, or relax and enjoy your family the answer to this question will let you see what matters most.
  5. What would you do if there were no risk to doing it? This is a great way to see what you really want to do.  Your vision is your dream.  You don’t need to know how you will accomplish it.  You just must keep the dream in your mind as you make choices.  The way to get to the dream will come later.
  6. What theme consistently runs through your life? This is an important one.  You may be known for something in your family.  Maybe something comes so easily to you that you do it for everyone.  There may be something you have done consistently over time in your work and in your leisure starting when you were young.  These themes are often hidden unless you think about it.  It may take some time to uncover the themes.  If the theme is something you like, your vision will include the theme in some way.
  7. What kind of work exhilarates you? Your vision will include the kind of work that gives you pleasure-that energizes you.  As you work on your vision look for examples of work that exhilarated you in the past.
  8. What would you like your legacy to be?  Your vision needs to be big enough to be challenging to you and memorable to others.  It also needs to be so attractive to you that it energizes you every day to make progress on it.
  9. What do you wish were different in your life today?  What would your perfect life look like? If you know what a perfect life would look like, you have your vision.  Start with the changes you would make today and then ask yourself if with this change life would be perfect.
  10. What gifts do you have that you are not currently using that you would like to use?  Not only do you want your vision to be aligned with your values but you will want to be using the gifts you have that you enjoy.

Bonus Offer for Newsletter and Blog Readers

Would you like to try a visualization exercise with me?  I use a meditation like visualization in my coaching sessions that most find very helpful.  Join me at 12 noon Eastern Time on Wednesday February 15, 2012for a 45 minute session on my conference telephone line.  We’ll do the visualization and then share our thoughts on the process.  Please email me at asparker@asparker.com to let me know if you would like to participate.  I’ll send you an email with the telephone number to use for the call.

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A Values Conflict Can Be a Recipe for Disaster

“Could you fire someone?”  That was the first question the Branch Manager asked me at the interview.  Needless to say I was floored by the question.

I stammered something like, “Yes, if I had given the person time to improve and helped him/her to change but nothing worked then yes I could fire someone.”   Somehow that did not satisfy her.  She said she was looking for someone who was tough, who focused on the bottom line and was ready to quickly fire anyone that was not producing.

I didn’t get that job.  She said that our “styles” were too different.  I wanted the job and was really disappointed.

Since I was on the Sales Vice President’s staff in New York City and had been for 4 years I was eager to get back to Boston.  Later that year the Vice President (her boss too) pretty much strong armed her into hiring me for another sales manager’s position.

Taking that job was a huge mistake.  It was clear from the beginning I was not a good fit for the branch and that branch manager.  Today I would say we had a values conflict that did in fact make our styles very different.

She had hired the other sales managers and they were happy working for her.  I was not comfortable with her nor was I comfortable with the other sales managers.  The 2 years I spent in that job were horrible ones for me.  I was definitely not happy at work!

During that time I secretly criticized her for an insensitive approach to move very quickly, eliminate poor performers and get business at any cost.  Today I would say that her values were in conflict with mine.

What made my predicament really difficult at that time was that I was limiting my job search to AT&T and Boston.  At my level there were very few AT&T jobs in Boston and openings were rare.  I had a good salary and benefits at AT&T so I was reluctant to leave the company.  Oh those golden handcuffs!

Two years later I found a new job –still within AT&T and in Boston.  I reconnected with a woman that I had worked with before.  She had been promoted to manager and brought me on to her team.  I knew her to be organized, dependable and focused.  Her team welcomed me and I immediately knew that I fit in.  At last I was happy at work again.

Let me say that both managers were very successful in their jobs.  It was not a question of a bad manager as I thought when I left the first manager’s branch.  It was just that my values were more aligned with those of the second manager and so we worked really well together.

What did I learn from the situation?

  • My values must align with those of the person I work for.   I must know that before I accept the job!
  • Taking a job with a manager whose values conflict with mine is a big mistake.
  • If I wanted to find a job in Boston I needed to look for it both inside and outside of AT&T.
  • Staying connected with former colleagues is worth the effort. (I still hear from the second manager at Christmas and it has been 15 years since I worked for her.)
  •  Having a good work situation is more important than having a high salary. Being happy at work makes life more satisfying and work more meaningful.
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Not Happy at Work? Do You Share the Company’s Values?

Values – principles or beliefs that guide the company.  Knowing the values of the company you work for can help you determine whether you are a good fit.  The values a company says it has may not be the values employees see and feel.  If you never feel comfortable in your work situation, it could be a values mismatch.  Here is a list of 10 pairs of values.  I’ve tried to pair ones that are almost opposite together so that you can see that valuing the first would give you a very different culture than valuing the second.  In my list there are no “bad” values but there may be some that would produce a culture that would be uncomfortable for you.

 

  1. Family friendly versus business comes first – With a company that truly is family friendly you would find people understanding about child care issues, supportive about your leaving to coach a child’s sports team, offering  telecommuting as an option when a family member is ill.  When a company values its own business first you will be rewarded for results that support the company’s business goals.
  2. Customer focused versus bottom line focused – Customer focused companies give employees ability to satisfy the customer complaints even when it means refunding payment.  Those focused on the bottom line would be more apt to try to satisfy the customer in another way without a refund.
  3. Quick changing versus incremental change – A company that values quick change will be in constant change.  You’ll need to be flexible to move with a company like this.  Other companies spend time thinking through change.  You’ll need to be patient to work with that company.
  4. Risk taking versus safe, analytical and reasoned approach – Companies that value risk taking may look to employees to take chances.  They need to also be accepting of failure. (You’ll want to make sure of that!) A company that values a safe, analytical, reasoned approach will move more slowly testing a new idea before moving on it.
  5. Innovative business versus stable business – Businesses that value innovation are always looking for the next upgrade or new idea to develop.  Creative people love to work for this type of business.  Nothing remains the same for long. On the other hand some businesses value their stability.  They have all their processes defined and employees are expected to follow the defined processes.
  6. Fast paced versus deliberate paced – Just as some people like to move quickly and some have a more deliberate and steady pace so do companies.  Depending on your style you’ll be more at home at one or the other.  (The DISC assessment will determine your style.  Ask me about it.)
  7. Team approach versus individual contributor – Some people love working in groups and thrive with a company that values teamwork.  Other people prefer working alone and coming together occasionally to update each other.  There are companies that foster the team approach and others that encourage individual contributions.
  8. External cause (conservation, environment, organic, serving food banks etc.) along with business bottom line versus singular business focus – Many people look for companies with a larger world view and a focus on solving larger issues while at the same time doing their own business.  Companies that do that may be a fit for some of you.  Others may prefer to do that sort of service on their own time.
  9. Fashion forward versus business like appearance at all times – Look at the mode of dress within the organization. Are you comfortable with it?  It might be very buttoned down or it could be jeans and sneakers.  If dress is important to you make sure you look for a place that supports your style.
  10. Have fun while you work versus a serious approach to the customer - During the dot com era many played games at work to relax after working hard.  Foosball was big.  There are still companies that emphasize their playful attitude.  Others are all business. Where do you fit?

Think about what is most important to you in your work situation and look for companies that share your values.

You can find a list of 20 Core Values at this website.

Free Values Tool

Do you know your values?  When you know the principals and beliefs that are most important to you, you can identify potential trouble spots in your job, your relationships and your ability to achieve your goals.  You will be able to easily create your vision of the job or practice that is perfect for you. Now is the time to identify your values whether you are looking for a job, are unhappy in your current job or are thinking about moving on to your next career or job. I offer a free values tool for my newsletter readers.  Just email me at asparker@asparker.com for a copy.  If you would like a more in depth discussion and assessment, call me at 781-598-0388 or email me at asparker@asparker.com.

I wrote another article on company values.  You will find it on my website.

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Hire people who share your values

Values – principles or beliefs that guide your practice.     Knowing your values (or your firm’s values if you have several partners) will help you to determine if a candidate shares those values and thus will fit into your firm.  Here is a list of 10 pairs of values.  I’ve tried to pair ones that are almost opposite together so that you can see that valuing the first would give you a very different culture than valuing the second.  In my list there are no “bad” values but there may be some that would produce a culture that would not feel right to you.  In the same way your values may not feel right to someone you are considering hiring.

 

  1. Family friendly versus business comes first – with a company that truly is family friendly you would find more understanding about child care issues, support in leaving to coach a child’s sports team, allowing telecommuting when a family member is ill.  When a company values business comes first the company you will be rewarded for results that support the company’s business goals.
  2. Customer focused versus bottom line focused – Customer focused companies give employees ability to satisfy the customer complaints even if it means refunding payment.  Those focused on the bottom line would be more apt to try to satisfy the customer without a refund.
  3. Quick changing versus incremental change – A company that values quick change will be in constant change.  You’ll need to be flexible to move with a company like this.  Other companies spend time thinking through change.  You’ll need to be patient to work with that company.
  4. Risk taking versus safe, analytical and reasoned approach – Companies that value risk taking may look to employees to take chances and hopefully succeed.  They hopefully are accepting of failure. (You’ll want to ask about that!) A company that values a safe, analytical, reasoned approach will move more slowly testing a new idea before moving.
  5. Innovative business versus stable business – Businesses that value innovation are always looking for the next upgrade or new idea to develop.  Creative people love to work for this type of business.  Nothing remains the same for long. On the other hand some businesses value their stability.  They have all their processes defined and employees follow the defined processes. Someone who appreciates consistency would thrive in this kind of a practice.
  6. Fast paced versus deliberate paced – Just as some people like to move quickly and some have a more deliberate and steady pace so do companies.  Depending on your style you’ll be more at home at one or the other.  (The DISC assessment will determine your style)
  7. Team approach versus individual contributor – Some people love working in groups and thrive with a company that values teamwork.  Other people prefer working alone and coming together occasionally to update each other.  There are companies that foster the team approach and others that encourage individual contributions.
  8. External cause (conservation, environment, organic, serving foodbanks etc) along with business bottom line versus singular business focus – Many people look for companies with a larger world view and a focus on solving larger issues while at the same time doing their own business.  Companies that do that may be a fit for some of you.  Others may prefer to do that sort of service on their own time and believe the business of a law practice is just to practice law.
  9. Fashion forward versus business like appearance at all times   One thing everyone can view is the mode of dress within the practice.  What is important to you?  Is it very buttoned down or   jeans and sneakers.  If dress is important to you make sure you set the standard.
  10. Have fun while you work versus a serious approach to the customer.  During the dot com era many played games at work to relax after working hard.  Foosball was big.  There are still companies that emphasize their playful attitude.  Is your firm known to be playful or serious?

Think about what is most important to you in your work situation and look for people who share your values.

You can find a list of 20 Core Values at this website.

Do you have a clearly written hiring process?  Do you know what you need to do to determine the values and value of a candidate?  Hiring the wrong person is costly, disruptive and unpleasant.    The time to prepare for hiring is before you need to hire.  I have many useful tools and assessments that can help you with hiring new personnel.  Email me for a free values tool. (asparker@asparker.com)  If you would like a more in depth discussion and assessment call me at 781-598-0388 or email me at asparker@asparker.com

I wrote another article on company values.  You will find it here.

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My Wish For You For the New Year

Now that 2011 is coming to an end

I want thank you for being my blog friend

 

It is a pleasure to write my blog for you

Your comments and ideas are appreciated too

 

As we begin year 2 for this blog, year 9 for Parker’s Points and 13 for Road to Success

Look for more articles and tips on ways to relieve work and job search stress.

 

There will also be articles on how to be more engaged in your work.

And you’ll get more tips to avoid having your boss, client or job make you go berserk.

 

If you have a special interest or topic you’d like explored

Please let me know about them.  You won’t be ignored!

 

Check my archives** and blog for a variety of articles and lists

The archives start in year 2003 so look to see what you might have missed.

 

My wish for you is that you have a year filled with all you desire

Whether you are looking for work, advancing your career, or ready to retire.

 

Happy holidays to everyone reading this today!

May you do work that is meaningful to you in every way.

**Link to my archives http://www.asparker.com/archives.html

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Ten Ways to Relax With Play

15 years of work in Corporate America almost made me lose my ability to be playful.  At this time of year most of us feel the stress of getting everything ready for the holidays.  Take a play break this month.  It’s time for all of us (me too) to lighten up. Here are 10 suggestions:

  1. Cut, paste and color something – As a child you probably liked to color a picture or make a collage?  Do something artistic now without judging the work.  Enjoy the feel of doing it.  The goal is to enjoy doing this.  It is not about the picture itself.
  2. Dance – Who doesn’t like to move with music?  Take a break, choose some music you enjoy and dance with wild abandon.  Really let loose.  I know it takes me a while to lose my inhibited style.  I’ll need to close the windows, shades and doors for this one.
  3. Sing – Here is my favorite.  I do this a lot in the shower, in the car or in my office when no one is around.  To have even more fun use your hairbrush as a microphone and pretend you are a rock star.
  4. Bubbles – This one I learned from my grandchildren when they were younger. They would blow bubbles and then break them as the bubbles danced through the air.   I love blowing bubbles and then watching them float.  Sometimes I like to catch them on my finger which is tricky because they often break.
  5. Swinging on a swing – Go to a playground or carnival.  Swing on a swing and feel the wind in your face, use a jungle gym or the monkey bars and swing from place to place or sit on a merry go round and go for the brass ring.  Just thinking of doing this makes me smile.  It is too cold to do this right now in Massachusetts.  It will have to wait until spring.
  6. Enjoy a yoyo, a Nerf ball, or a paddle with ball.  I’ve never mastered a yoyo but they look like fun if you know what you are doing.  I end up winding the string most of the time.  I do like to use the paddle that has a ball connected to it with an elastic.  Fun to try to keep the ball moving and hitting the paddle.    Playing with a Nerf ball can be fun too.  Any ball will do but Nerf balls are squishy and colorful.
  7. Mindful Walk – Walking is a great stress reliever.  Next time you walk begin to notice what is around you – the flowers, birds, the sounds, the trees, the people etc.  See where the sounds you hear come from, notice where the birds fly to, look at the leaves on the tree and all the flowers growing.  (I’ll need to wait for spring to see flowers and leaves but there is still lots to notice in the winter.)
  8. String games – Have you ever played Cat’s Cradle?  String games are lots of fun.  You need a partner to do Cat’s Cradle but there are many things you can do alone like making a Brooklyn Bridge, a cup and saucer, a broom,  or a crown all in string. Sometimes it takes a bit of imagination to see what you have made but it is fun to do over and over.  Make up a new design yourself.
  9. Stickers – Another way to make a collage or mosaic is with stickers.  If you have an assortment of stickers you can make an abstract creation and have fun while doing it.
  10. Building with blocks, Legos, or sand. How high can you pile the blocks, Legos or sand?  Some people become quite artistic when it comes to sand.  I love making tunnels and moats on a big sand castle.   There are lots of instruction books for making things out of Legos but I’d rather make my own creation.  Again this is more about relaxing and having fun and not about making something.

What ways do you have to de-stress this time of year?

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Use What You’ve Got to be Happy at Work

Shirley Temple was the star of the day when I was born.  My mother adored her.  Of course she envisioned her new daughter with lots of lovely curls.  Unfortunately I was born with straight brown hair.  It should have been no surprise to her though because neither she nor my father had curls.

As I got to be school age I too wanted Shirley Temple curls. I can still remember a girl in my first grade class named Cynthia Woodbury with beautiful curls that looked like sausages.  Oh did I want curls like hers.

My mother did try to curl my hair.  People told her to set my hair with rags.  That didn’t work.  Someone else told her to put lanolin on my hair and then put a cap on for an hour.  Still no curls!

Finally she found something that she was sure would work-a permanent.  Wanda the hairdresser put curlers that were connected to an electric hairdryer like machine on me.  Smoke came out of the curlers when they were attached to my hair.  I wanted those curls so badly I wasn’t even scared.

It did work! Now I had small tight curls all over my head.  When it rained my hair stood straight out.  I looked like a cartoon character that had put her finger in an electric outlet.  One boy in my first grade class said when he saw me, “Alvah, what happened to your hair?”  My mother who was with me said, “She ate lots of carrots.” Another theory she had read in magazines was that carrots make your hair curly.  That had not worked either!

As I got older my aunt would give me a Tony home permanent several times a year.  By this time it didn’t make such tight curls but there was still an issue on rainy days.  I continued getting the permanent periodically until I was in my 50s.  Finally I’d had enough.

I realized after all those years that straight hair can be pretty too.  The lesson learned was to work with what I had and to see it as being good.  It’s all about your mindset.

Barbara Corcoran, founder of the Corcoran Group, a real estate firm in New York wrote a book called Use What You’ve Got and other Business Lessons I learned from My Mom She tells a funny story about how she used her pigtails and friendly personality to attract customers to her counter in a restaurant. (Maybe you can guess what the girl at the other counter had.)

Maximize Your Strengths

Just as trying to acquire a physical attribute that I didn’t have was a waste of time trying to overcome a skill or talent weaknesses can be frustrating too.  Time is better spent maximizing a strength than trying to build up a weakness.

Malcolm Gladwell in his book Outliers suggests that even someone who is talented in a particular area must put in 10,000 hours of practice to get really expert.   He cites Bill Gates as an example of someone with the talent and strong desire to understand how to program computers.  Gates enjoyed programing and that made working on computers fun for him. He easily put in the hours necessary to gain expert status.

It takes a lot of energy to try to strengthen weaknesses.  It will be exhausting and in the end while you will see improvement you won’t be able to compete with the person who has a natural talent in that area and enjoys perfecting that talent.

So what are you naturally good at?  How can you use what you have to make it count in the work that you do?  Your work becomes much more meaningful when you are able to use the skills and talents you enjoy and that you are good at.

Not sure what your strengths are?  I give several assessments in my Value Program to help you to identify those strengths.  Once you know those strengths you can begin to use them in the work you do.  Sometimes people undervalue what they are good at because they do it so easily they believe everyone can do it too.  I’ll help you to see your unique value and where you can use that value in your current job or in a new job.  Call me at 781-598-0388 or email me at asparker@asparker.com.

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10 Questions to Ask Yourself When Buying a Franchise

Buying a franchise is an attractive option for someone who wants to run his/her own business.  It is half way between running your own business and working for someone else.  With a franchise you get support, help and direction and in return the expectation is that you’ll follow their methodology and make a profit.  You have the same profit and loss responsibility as a business owner and so if you lose money that money is your loss!  There is risk involved in buying a franchise so make sure you investigate it thoroughly first.  Here are 10 questions to ask yourself:

 

1.       How much money do I need to invest?  When you buy a franchise you are paying for the time and money the franchisor has spent in developing operating systems for the franchise, trademarks and logos for you to use, and a business name that is recognizable

2.       What kind of a business interests me?  Running a franchise requires commitment.  If you are passionate about what you are doing you will have the energy to do whatever is needed to make your franchise profitable and successful

3.       What experiences do I have that make me the perfect person to run this franchise?  Having prior experience in the industry you are choosing will be very helpful.  The more you know about the industry itself the better you will be able to judge if the franchisor has a well thought out plan.  There is a lot to learn about your new business. It is an advantage to begin with some industry knowledge.

4.       Will I be comfortable following the rules and regulations of the franchise?  Most franchisors impose standards on the franchise limiting the way you can operate the business.  This means that each franchise is uniform and customers know exactly what they can expect when they enter the franchise but it also means the franchisee cannot be creative or cater to local needs or issues.

5.       Will I resent having to pay a royalty to the franchisor each month and having to buy supplies from the franchisor’s designated supplier? You have to pay the royalty even in a slow month and sometimes the supplies cost more than you would pay elsewhere.

6.       Does the franchisor that I am considering give me an exclusive territory?  Some franchisors will sell other franchises in your area (maybe even across the street!) so that you have to compete against both your own brand as well as other brands.

7.       Have I spoken to some franchisees of the franchise I am considering?  Other franchisees might be willing to share their problems and successes with you.  Ask about the kind of support the franchisor gives. (You can get the other franchisees contact information from the FDD – see tip 9)

8.       Is there a demand for the goods and services this franchise offers?  As with every business you want to make sure there is a market for what you offer.  Do some market research on your own to determine the size of the market and who the ideal customer is for the product or service.  Do not assume that this work has already been done by the franchisor.

9.       Have I read the Franchise Disclosure Document (FDD) and the franchise agreement thoroughly and underlined areas where I have questions for a lawyer to look at?  These documents are important to you and your business.  It is important for you to understand what you are buying.

10.   Do I have an attorney who specializes in franchises to advise me on the franchise and the franchise agreement?  Once you are familiar with the FDD and the franchise agreement you can have an attorney explain the sections you do not understand. The attorney can also advise you as to what the problems might be in signing the franchise agreement.  Most franchisors will not change the agreement but an attorney who specializes in franchises will know what can be changed and how to approach the franchisor.

What’s an Encore career?

If you are in your 50s and have had  a  successful career but feel something is still  missing, you may be looking for an encore career.  An encore career is one where you are connected to a larger vision that gives new meaning to the work that you do.  If you have a longing for more fulfilling work, I can help you to find what you are looking for.  Using assessments to identify your strengths, values, and communication style you’ll find a career or volunteer situation that fits you perfectly and allows you to make a difference in the world.  For more information call me at 781-598-0388 or email me at asparker@asparker.com

 

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