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MARCH 2020
NEWS
4 WOMEN WHO HELPED LEAD THEIR COMPANIES TO IPOS AND BEYOND Women in Leadership
Sheryl Sandberg, COO of Facebook
Women make history every day. March is National Women’s History Month, and while we can look back at many of the women who have made a major impact in business and entrepreneurship, this month, we want to recognize women who are making waves today. Over the last decade, a record number of women have established companies, grown them, launched initial public offerings (IPO), and invested heavily back into their companies and new companies. One major player is Sheryl Sandberg. She is the chief operating officer at Facebook (Nasdaq: FB). She was with the company when it launched its IPO in 2012. When Facebook went public, Sandberg sold over half of her 41 million shares in the company. After several rounds of sales, she had 17.2 million shares, for about 0.5% stake in Facebook, valued at $1 billion. Following the IPO, Sandberg had the resources to launch the Lean In Foundation (LeanIn.org). She also wrote the accompanying book “Lean In: Women, Work, and the Will to Lead.” Lean In is an organization with a mission to “help women achieve their ambitions and work to create an equal world.” Katrina Lake is the founder and CEO of Stitch Fix (Nasdaq: SFIX). She founded the personalized online clothing company in 2011 and took it public in 2017. Following the IPO, Lake had a 16.6% stake in Stitch Fix, and Stitch Fix itself was valued at $1.6 billion. Within a year of the IPO, it was valued at $2.8 billion. Lake is also considered one of the richest self-made women in the U.S. as a result of the outstanding success of her company. She credits
much of her success to her “efficiency with finances” and getting the absolute most out of venture capital.
Sheila Marcelo is the founder and outgoing CEO of Care.com (Nasdaq: CRCM). Care.com was launched in 2007 and went public in 2014. Up through the offering, Marcelo had been highly successful in raising venture capital for Care.com, pulling in more than $111 million, including a major investment by Reid Hoffman, founder of LinkedIn. In December 2019, Care.com was bought by IAC, a U.S.-based holding company, which also owns brands like Match. com, Investopedia, HomeAdvisor, Angie’s List, and more. IAC paid a 13.2% premium over Care.com’s closing share price when the deal went through. Marcelo also plays an active role with the Philippine Development Foundation, an organization dedicated to eliminating poverty in the Philippines. Lynn Jurich has become a force in solar energy, competing with the likes of SolarCity (which is owned by Tesla, Inc.). Jurich is the co-founder and CEO of Sunrun (Nasdaq: RUN), a residential solar installation, financing, and leasing firm. Founded in 2007, Sunrun went public in 2015. In 2014, in the months leading up to the IPO, Sunrun raised $150 million in venture capital. Jurich is also an angel investor and has given seed funding to numerous companies. She has also invested in Tetcha, a skin care company founded by her husband, Brad Murray. She’s also invested in Safi Analytics, another notable woman-led company.
Katrina Lake, founder and CEO of StitchFix
Sheila Marcelo, founder and outgoing CEO of Care.com
Lynn Jurich, co-founder and CEO of Sunrun
–Jeff Barnes
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BOOST YOUR COMPANY’S CULTURE WITH
If you dive deep into the tactics of successful businesses and startups, a common thread among them is that culture reigns king. More and more
experience working with companies to execute cohesive strategies for building effective culture. Jeff Grimshaw, Tanya Mann, Lynne Viscio, and Jennifer Landis have witnessed company cultures of every type be successful and fail. They concluded that culture doesn’t cultivate from the many but, rather, is affected by the few. In this case, the few are the leaders of the business.
ARE YOU VIBING WITH YOUR Business?
value is placed on fostering an uplifting atmosphere for employees, which allows them to generate better business. The general consensus says
great culture is built over time and can take many tries in an attempt to get it “just right.” But one
The authors assert that leaders are, at every moment, transmitting signals to their
team, whether intentionally or not. Teams take cues from those who lead them, so if leaders aren’t dialed into the frequencies they’re giving off, they could be transmitting troublesome signals. Instead, leaders should always be dialed into their “vibes” and be particularly aware of five specific frequencies:
book suggests that you might not need to look very far to pinpoint the biggest influence behind company culture. In “Five Frequencies: Leadership Signals That Turn Culture Into Competitive Advantage,” a team of four authors compile their years of extensive
The first quarter of the year is quickly coming to an end. Are you on track to meet your goals and commitments for Q1? How is Q2 shaping up? How is the whole year looking? If everything is on track, congratulations! Now is the time to review what went well and why. Use your momentum to move to your next steps. If your goals are falling short, now is a good time to analyze why that is. Look at goals you previously accomplished or are on track to accomplish. What have you done to meet those goals? What did you have in place to make meeting those goals possible? Then look at the goals falling behind. What is holding you back? What obstacles are getting in the way of progress? How might you overcome those obstacles? How can you apply successful strategies to these goals? Practically every entrepreneur sets goals all the time. Setting goals is critical to growing as a professional, to growing your business, and for achieving the success you have in mind for yourself. The problem is, many goals are left unfulfilled because of flaws in the way the goals were set. Take, for example, the following flaws: ● The goals were unrealistic. They shot for the stars when they needed to shoot for the moon. ● They didn’t work as a team to see the goals through. Entrepreneurs often want to do everything themselves. Delegation, however, is a key to success. ● The goals weren’t clearly defined. They were left vague and without a solid plan for success.
● There wasn’t a tracking system in place. Key performance indicators (KPIs) are a good way to monitor progress and growth toward goals and other elements of your business. Looking back, did you give yourself or your team enough resources (time/material/capital) to complete the goals? Were the goals properly communicated? Did changes in your business, industry, or the economy impact your goals?
How can you recalibrate and get back on track?
If you need to recalibrate, make that an immediate focus. The longer you wait to adapt to changing circumstances, the longer it will take to get back on track. Even the best-laid plans can be disrupted by unforeseen circumstances. The more adaptable you can be, the better your outcome.
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Put an End to NETWORKING ANXIETY Y ou’re at a networking event and don’t know where to begin. You look around the room at all the groups of people chatting away. After a quick assessment, your first instinct is to beeline for the refreshment table. Does this sound familiar? You are not alone. For a lot of people, including students, career-established professionals, and even entrepreneurs, working up the nerve to engage others in a networking setting is a challenge. Whether you consider yourself an extrovert or an introvert, it’s not uncommon to face psychological barriers that keep us from getting the most out of networking events. One thing to remember is that people who attend networking events fall on every point along the social spectrum. Regardless of where you land, you can conquer the psychological barriers and get the most out of networking events. Ask yourself why you’re attending a networking event. What is your goal? Most people go to networking events with the intention of learning about career or business opportunities. They’re interested in connecting with thought leaders, finding resources, and discovering ways to improve themselves professionally. When you better understand your purpose, you can carry that mindset with you as you meet and interact with others later on. And remember, everyone’s goal is essentially the same. You want to meet people, and people want to meet you. Pick and choose your networking opportunities. Don’t attend an event just because you feel obligated to or because one presented itself. Networking events are common enough that you can choose which ones you’ll get the most out of. Dedicate time and energy to those you are most comfortable attending and make the most sense to you and your industry or niche. Focus on making one or two solid connections. You don’t have to speak to every person or be a part of every conversation at a networking event. Hone in on the people you genuinely want to meet with. You’re looking for a person with whom you can share a mutually beneficial relationship — someone you can learn from and who could learn from you. And if you don’t make a solid connection this time, that’s okay. There is always a next time.
‘FIVE FREQUENCIES’
1. Their decisions and actions
2. What they choose to reward and recognize
3. What they do and do not tolerate
4. The way they show up informally
5. How they compose formal communications
“Five Frequencies” illustrates how correctly tuning into these frequencies can give leaders the tools they need to make bad culture good and good culture great. Full of tried-and-true examples from real companies around the globe, this guide proves that culture is not something tangible you can hold, nor is it a procedural element you can simply implement. It’s something people feel, and it’s built and explained by the behaviors that surround it. This means it can be difficult to manage, measure, and, most importantly, change. But if leaders take the time to look at themselves and the actions they exemplify, they’ll have a solid foundation to start.
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What’s Inside:
These Women Who Helped Lead Their Companies to IPOs and Beyond Are You on Target With Your Goals — or Falling Short? How Your Vibes Affect Your Business
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Defeat Networking Anxiety Take a Break Productivity Lagging? Check Your Inbox!
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IMPROVE PRODUCTIVITY BY CLEANING UP YOUR INBOX Is Email Clutter Dragging You Down?
D o you cringe every time you open your email, preparing yourself for a barrage of unanswered messages? If so, then it’s time to take tidying up your inbox more seriously because poor organization results in far worse problems than simply missing out on happy hours with coworkers. According to psychology professor Susan Krauss Whitbourne, mental and physical clutter can impede productivity. It may also have long-term effects on our ability to process information. One University of Toronto researcher has even found evidence that mental clutter may worsen age- related memory loss. Since most people can cite their digital inbox as a source of stress, starting there is a big step toward organizing your mind and your life. Plus, you can declutter it in just one hour by following these steps.
1. SWEEP AWAY THE JUNK.
Begin by going through your emails from oldest to newest and deleting anything you know you won’t need. When you see an email you want to delete, search to find others from that sender — it’s likely there are multiple you can trash right away.
anything that will take less than two minutes to answer. For the ones that need more effort, put them on your to-do list and schedule a time on your calendar to respond.
2. CATEGORIZE NECESSARY MESSAGES.
Create folders to organize the remaining emails. You might use a time-based system, like “First Quarter of 2020,” or descriptive names, like “Receipts” and “Current Projects.” Choose a system that works for your personal preferences.
4. MAINTAIN A HEALTHY EMAIL HABIT.
Now that your inbox is in a manageable state, develop habits to keep it that way. Check your inbox when you get to work and follow the steps above. Once a week, set aside a few minutes to sort through and organize anything you missed. The more time you devote to decluttering your email first thing, the more time you’ll have to accomplish bigger and more important goals.
3. RESPOND TO URGENT EMAILS.
Have unanswered emails that can’t be filed away? Use the two-minute rule: Immediately respond to
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