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Posts Tagged ‘board of directors’

Who’s on your personal board of directors?

In behavior, business, domestic life, education, journalism, life, Media, Money, work on May 18, 2012 at 12:31 am
Image representing Mark Zuckerberg as depicted...

Image via CrunchBase

As Mark Zuckerberg awaited, hoodie-clad, today’s IPO of Facebook, The New York Times did an interesting dissection of the wise and powerful players who helped refine his thinking and strategy over the years, adding value to his vision and therefore adding value to today’s offering:

But Mr. Zuckerberg has also invested in a personal brain trust beyond Facebook’s headquarters in Menlo Park, Calif. He cultivated as advisers such tech giants as Bill Gates and Steve Jobs, as well as others as varied as Marc Andreessen, the co-founder of Netscape, and Donald E. Graham, the chairman and chief executive of the Washington Post Company.

One venture capitalist tells how, when he met Mr. Zuckerberg in 2005, the young man wanted more than the V.C.’s money. He wanted an introduction to Mr. Gates. (He eventually got one, on his own. Today, Mr. Gates regularly advises him on philanthropy and management issues.)

“What’s most interesting about Mark is how he developed himself as a leader,” says Marc Benioff, the chief executive of Salesforce, who has known Mr. Zuckerberg for years. “Not only did he have an incredible vision for the industry, but he had an incredible vision for himself.”

Here’s a fun post on a similar idea by a young Australian businessman, Jimmy Florida:

To make life really interesting a friendship group would have at least one of everything including a doctor, global wanderer, nutritionist, entrepreneur, writer, stripper, drug dealer, dentist, restaurateur, stock broker, accountant, recruiter, masseuse, farmer, banker, bum,  blogger, athlete, celebrity, venture capitalist, monk, artist, politician, Chinese doctor, arms dealer, people smuggler, politician, and rock star  –  you get the idea. This mix would make for a hell of a dinner party and some great conversation!

Whatever you choose to call it — brain trust or friendship group or board of directors — everyone with a shred of ambition needs one. This can start as early as high school if you seek out and cultivate a few wise mentors.

No matter what you know or have studied formally, there’s always going to be a pile of stuff you don’t know, and may actually need to learn (let alone use or publicly discuss or present persuasively) within a few hours or days.

Then you need access people who know this stuff who will help you.

Unlike Florida, though, I don’t just turn to people I know socially. I’m completely fine paying people for their expertise and usually turn to those with excellent references from my posse; I write off their fees as a cost of running my business.

Until or unless you’ve amassed a ton of social capital, do whatever you need to get the smart advice you have to have.
In my 30+ years working as an author and journalist, here are some of those I’ve assembled:

Agent

I’ve been through seven. ‘Nuff said.

Lawyer

Useful for scaring the shit out of greedy lying publishers and others who’ve tried to stiff me out of fees they owed for work I completed under contract — and they reneged. It works. Also useful for reviewing the work of your agent(s.)

Speaking coach

I was about to go on the Diane Rehm radio show, with 2 million listeners — live for an hour, with call-ins. No pressure! I spent two hours the day before with a speaking coach. Helped a lot. Here’s the transcript of that show. Here’s my coach, Christine Clapp. A lively and lovely young woman, she works in D.C. but can work with anyone anywhere via Skype. She’s great.

Career coach

Whenever I or my husband feel like we’re hitting a wall, we give her a call.

Massage therapist

Colorist/stylist

I’ve done a lot of public speaking, teaching and TV. I also live and work in New York, where appearance matters a great deal. A reliable and affordable hair salon (I have two) is a must.

Investment adviser

Personal shopper

When my newest book, “Malled: My Unintentional Career in Retail” came out last April I was catapulted from home-in-sweats-world to being photographed for national media and being well-paid to speak at conferences and events all over the country. I needed a professional wardrobe, stat! I did something I’d never done before and it was wise indeed — I went to an upscale retailer, Neiman-Marcus, and threw myself (not literally) into the capable hands of the department manager. I felt fat, horrible, insecure. With calm, cool competence, he brought into the dressing room three dresses, two pairs of jeans and two sweaters. I bought everything! And when Marie Claire magazine asked me, with two days’ notice, to speak to their advertising staff — talk about fashionable women! — I felt completely confident and ready to rock.

Therapist

Even New York dogs have therapists. If you can afford the help and need it, go! Nothing wastes more time and life energy than wallowing in misery and repeating self-destructive behavior patterns.

Nutritionist

Trainer

Book publishing PR experts

I have two dear friends who both work in publicity for major commercial houses. I’ve learned a lot from them that helps me position and sell my books.

Accountant

Physical therapist

After four (!) orthopedic surgeries since January 2000: both knees, right shoulder and left hip replacement this past February, I know a lot about PT. I like and trust my PTs and they’ve taught me a great deal about my body. I even wrote about them in The New York Times. You can do a lot of good for an aging/weak/injured body before and after surgery. You can even prevent it.

Who’s on your “board”?

Sharkproofing 101: Seven Lessons For New 'Entrepreneurs'

In business on June 3, 2010 at 2:51 pm
Picture taken at Georgia Aquarium, pictured is...

Just when you thought it was safe to go into business for yourself....Image via Wikipedia

I’ve been thinking a lot about this “entrepreneurial” thing of late.

One of the enduring challenges, sometimes the primary challenge, of working on your own, is knowing how to discern the predators and make sure you protect yourself from them, or stay out of their way. Whatever their motives, sometimes without motive — you’re just collateral damage — they can inflict serious harm to your income, your confidence, sometimes your reputation.

An an entrepreneur, without an excellent credit score, you’re toast. If people don’t pay you, (on time or ever) and you’re late paying your bills, kiss your excellent credit score goodbye. Bottom of the food chain, baby.

Welcome to planktonworld!

I learned this sad lesson when I was only 19, still in college, and working freelance like a madwoman to make as much money as possible; I lived alone and paid my way through university. One of the magazine publishers — this happens a lot, I would see over the next few years — screwed a bunch of us out of earned income for work used. We had to sign some “we won’t sue” document to collect pennies on our pay.

I ran into this guy at some party a few months later. Silly me! I thought he was…broke! I had pictured him wearing a barrel, begging for apples on the street, living in his car. Hah! Useful and memorable lesson. In the fall of 2008, two magazines in the space of two months tried, again, to screw me out of more money. Thank God for lawyers!

I recently heard — chutzpah! In the heartland! – from another deadbeat publisher who I had to sue to get my money from. Turns out I gave her all rights to my unpublished material in so doing (about four stories) so she made out like…a bandit. Now she asks if I’d like to work with her again.

See: snowball, hell.

Every single person who works for themself, for now or forever, needs to know these.

Sharkproofing 101

1) Join every possible professional group in any way related to your field, specialty, industry: alumni groups, LinkedIn groups, professional organizations. Even if you’re a fresh grad with no connections, make some, today. They have listservs and newsletters and on-line forums and chat rooms where pro’s will dish freely and name names. How else will you know who to avoid?

2) Because knowledge — of the deadbeats and cheaters – is power. For fear of being sued, very few professionals will name names publicly. But, for example, within the American Society of Journalists and Authors (on whose board I sit), we have a Warning List, available only to our members. Several Very Big Magazines are on there so we know not to bother working with them. It costs a fat $200 a year to join ASJA; saving your butt, if you meet our qualifications, is surely worth $16.66 a month. Freelance Success is also a great resource.

3) Know a lawyer who will answer your email and call promptly. Use them whenever necessary.

4) Keep an excellent FICO score and five-figure, low-interest line if credit open and available to you at all times. I am about to ditch Chase — hellooooo? — for their appalling, greedy new habit of charging me $30 every time I access my line of credit. The one they already cut and won’t restore and charge me double-digit interest on — and, wait there’s more! — told I was lucky it was only $30. After $90 in charges in one week, I took this issue to TD Bank where a banker said, “Hm. Sounds like extortion to me.” You have clout, use it.

5) Attend conferences and parties and events, nay, even the opening of an envelope in your industry — or the one you are trying to break into. You need to meet as many people as possible because some of them, yes, are going to be lying cheats — and some are going to be amazing, kind, cool mentors. The latter will help you suss out, or recover from the flesh wounds of, the former.

6) Be a lovely person. I mean it. Kind, funny, generous, helpful. What’s in it for you? Karma, baby. When the next deadbeat bites your ass and that line of credit just got cut and no one is hiring — you’re going to need a friendly voice on the phone or Facebook. I recently got asked for help by someone very new to me. Sigh. I have very little free time and a crummy income. Can I afford it? Can I afford not to? When it’s just you and your Blackberry and your sweatpants and a lot of prayers and talent, you need backup. We all do. If you’re likeable and have freely given it before, and now ask for help, odds are you’ll get some.

7) Create a posse. The minute I heard True/Slant was…mutating….I called three smart, tough, savvy friends, one of whom I’ve never actually met face to face. They have been advising me since. Corporations and non-profits have boards of directors. This is yours. Like all boards, they add a fresh perspective, multiply your brainpower and, occasionally, talk you off the window ledge.

There, now…..Doesn’t a full-time job sound grand?

Want To Join The Board Of The Met Or MOMA? Bring $10 Million

In art, culture on April 5, 2010 at 7:36 am
Photograph of the facade of the Metropolitan O...

$250,000 will get you in...to their board. Image via Wikipedia

So you like art and dress well and want to meet some of Manhattan’s most wealthy and powerful?

Write a check for $10 million, or maybe just $5 million, reports The New York Times:

“For those who can, we have an expectation and we try to be very clear about that expectation,” said Reynold Levy, the president of Lincoln Center, whose board members are generally asked to contribute $250,000 upfront and on an annual basis.

Sometimes the generosity of veteran trustees will exceed expectations. Consider the $30 million gift Ann Ziff made last month to the Metropolitan Opera, which simultaneously announced that she is to become its next chairwoman.

The pressure to raise money from volunteer boards has intensified as the economy slumped and broader charitable giving declined.

Yet even with weakened portfolios, many people of means remain willing to answer the call because a spot on a cultural board is among the most coveted prizes in a city of strivers and mega-achievers. And spots are limited: the New York City Ballet, for example, has 40 voting members; the Museum of Natural History has 56.

The rewards of service are many: social status, the personal satisfaction of doing good, the chance to rub shoulders with Rockefellers and Lauders, and a say in setting the intellectual course of the nation, if not the world, through a leading museum or performing arts institution.

I sit on two boards, neither in this social or financial stratosphere — but one that does require a financial commitment from me. It’s many fewer zeroes, but it requires me to pony up to work with fellow trustees for the Writers Emergency Assistance Fund, which gives emergency grants of $5,000 for first-time recipients to writers whose work qualifies. This terrible economy, which has decimated print journalism, has hit independent writers — even those successful for decades — extremely hard.

Every single grant application I read is a reminder to be grateful as hell we have insurance, my partner still has a job and, for now, we remain in good health.

The good news? We usually get a check out within a week.

I also sit on the board of the American Society of Journalists and Authors, whose annual conference is this month in Manhattan, April 24 and 25.

Do you sit on a board? Why do you do it? What have you learned?

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