MENTORS Magazine: Issue 1

Sep 12, 2019 | Publisher: Neil Ball | Category: Business & Jobs |   | Views: 44 | Likes: 11

MENTORS MAGAZINE | EDITION 1 | 1 Issue 1 DR. JOE VITALE OVERCOMING FEAR Steps To Leadership Nirvana DR. Steven Hymovitch Why Your Brand Must Transform to Stay Relevant—And How To Do It Whitney Vosburgh Boost Resilience, Beat Burnout! Beth Kennedy How Millennials Can Achieve Financial Freedom Through Real Estate. Ryan Boykin The Role of a Mentor Neil Ball Boss Mom Interview with Dana Malstaff Magazine MENTORS 2 | MENTORS MAGAZINE | EDITION 1 MENTORS MAGAZINE | EDITION 1 | 3 Publisher Neil Ball Editor Sally Jones Graphic Designer Tim Swan Ad Designer Joseph Dawson Writers and Contributors DR. Steven Hymovitch Steven Uster Ryan Boykin Christine Erickson David Neagle Dr Joe Vitale Mark C. Perna Whitney Vosburgh Dana Malstaff Christopher and Darcy Alkus- Barrow Ximena Hartsock Beth Kennedy Neil Ball MENTORS Magazine Edition 1 Cover Photograph: Courtesy of Dr Joe Vitale You may NOT copy or use any of the articles in this magazine without permission from MENTORS Magazine. The articles in this magazine are teaching and instructing other people about how to develop personally, in business and other things the writers feel is beneficial to developing personally and in different areas of business. Other articles in our magazine are written by companies, authors, and businesses that have something of value to share and they promote their work to our readers. We also share other stories which we feel are valuable resources for people to learn from. MENTORS Magazine is not responsible for the content or claims of any advertising or editorial in this publication. All information is believed to be accurate but is not warranted. The reader should do their own due diligence on any information provided in editorial content and for any advertising claims before taking any further action. The reader is responsible for their own actions. Some of the links in the magazine may be affiliate links and we may receive a payment if you make a purchase using them. Copyright Disclaimer: Under Section 107 of the Copyright Act 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favour of fair use. If you would like the magazine to share a blogpost or website please contact editor@MentorsMagazine.com All Rights Reserved © 2019 MENTORS Magazine Contact Information E-Mail: editor@MentorsMagazine.com Website: www.mentorsmagazine.com Facebook: @MentorsMagazine Twitter: @MentorsMagazine MENTORS MAGAZINE | EDITION 1 | 5 16 The Role of a Mentor By Neil Ball 20 Working Capital Management What It Is & Why It's Important By Steven Uster 24 Why Your Brand Must Transform to Stay Relevant— And How To Do It By Whitney Vosburgh 32 4 Steps To Leadership Nirvana By DR. Steven Hymovitch 38 Resonating with Every Generation on Your Team By Christine Erickson 44 How Millennials Can Achieve Financial Freedom Through Real Estate By Ryan Boykin 48 15 Signs You Are a People Pleaser – and What to Do About It By David Neagle 54 Why Our Old Approach to College Is Putting a New Generation at Risk By Mark C. Perna 58 Boost resilience, beat burnout! By Beth Kennedy 62 How to Break into Tech as a Woman of Color By Ximena Hartsock 66 Starting and Managing a Successful Business as a Married Couple By Christopher and Darcy Alkus-Barrow 72 Interview with Dana Malstaff IN THIS ISSUE Cover Story 6 Overcoming Fear By Dr Joe Vitale 6 | MENTORS MAGAZINE | EDITION 1 DR. Steven Hymovitch Steven Uster Ryan Boykin Christine Erickson David Neagle Mark C. Perna Whitney Vosburgh Dana Malstaff Christopher and Darcy Alkus- Barrow Ximena Hartsock Beth Kennedy Neil Ball Contributing Writers Cover Story Dr Joe Vitale 6 | MENTORS MAGAZINE | EDITION 1 Almost everyone is interested in overcoming fear – or should be. Whether you want to speak in public, open a new business, talk to potential dates, do stand-up comedy, climb a mountain — or anything you haven’t done before — you’re bound to feel fear and want help in overcoming fear. OVERCOMING FEAR Cover Story MENTORS MAGAZINE | EDITION 1 | 7 Well, how do you do it? After recording six albums of songs, my Band of Legends politely nudged me to perform live. While I’ve spoken on stage numerous times over the decades, I never sang on stage. Thinking about it brought up serious fears. Even terror. A friend remembers me saying I would NEVER sing in public. I had to overcome panic attacks, anxiety ambushes, and near nervous breakdowns to overcome the fear of public speaking. But public singing? I didn’t even sing in the shower. Childhood memories of being humiliated when I tried to speak or sing stayed with me. I overcame the speaking one. But I refused to even touch singing. It felt too vulnerable. I managed to do it in the studio for my six albums, by basically managing my adrenaline, but I couldn’t accept ever singing on stage live. No way. But I did it. I did it! And it was a huge success. I was strong and confident, owned the stage, and led my Band of Legends into a triumphant performance. It was an historic moment. It was a personal breakthrough. And it will live forever in my mind as a moment of greatness for me. Forget it. 8 | MENTORS MAGAZINE | EDITION 1 So, how did I go from terrified to terrific? I’ll share my own process, as it will illustrate the art of overcoming fear. I’m sure you can be inspired by this adventure. I of course did all the standard things that I teach, from practicing ho’oponopono (as I wrote about in my books, Zero Limits and AT Zero) to rehearsing in the studio and in my mind. But two months before the show, I also — 1. I Got coaching. A basic rule of self-improvement is this : I first saw that insight in the home of Jerry and Esther Hicks, of Abraham fame, decades ago. Jerry (who has passed on and I greatly miss) told me he first heard it in an early television western. I don’t recall the name of the show, but I do remember the impact the principle had on me. I started Miracles Coaching more than a decade ago for that reason – to give people someone who could believe in them. To help them overcome fear. To help them attract miracles. I’ve had a lot of people support me and coach me in performing: Jen Sincero is a badass author of two NY Times bestselling books, You Are A Badass and the recent You Are A Badass at Making Money. I discovered her first book years ago, knew it would be a hit, and interviewed her. We stayed in touch. I had lunch with Jen when she came to Austin for a book signing. I knew she had been in a band at one point, so I told her my dilemma. She told me that I had already done the hard part of singing. “You sang for Melissa Etheridge,” she explained, referring to when I had a private songwriting lesson with the rock icon last November. “Singing one on one is harder than singing on stage, and you sang for an icon you idolize and adore.” You can accomplish more if you have someone who believes in you more than you believe in yourself. MENTORS MAGAZINE | EDITION 1 | 9 The last time I saw Melissa Etheridge, just for a moment after her show in San Antonio in June, she told me she loves my latest album, The Great Something. She said to “Keep at it.” I dedicated that album to her. There’s a song on it I wrote for her. Her encouragement helped me stay motivated. She once told me, “Feel the fear and do it anyway.” Sarah McSweeney is a singer-songwriter who is on my first album, Blue Healer. She was the first person I sang for. We met and she told me she always feels nervous before getting on stage. But she thinks of herself as a messenger, not a singer. “I am a messenger,” she said. “I focus on the song’s message.” That insight helped me drop the idea of being a singer and adopt the idea of being a messenger. It helped me relax a little. Meghan Sandau is a new friend. She has promoted big music events. She wanted to see me do a concert. She said she likes my music. Her belief in me helped make me more secure. That reframe made the idea of sing- ing easier. In fact, none of this would happen without her. 10 | MENTORS MAGAZINE | EDITION 1 She set up the event for my Band of Legends to perform. She held my hand and encouraged me. Meghan also suggested I do an energy clearing session with Nicole Pigeault of Los Angeles. I love energy work and do clearings for others, so I leaped at the chance to hire Nicole. Turned out to be one of the most powerful esoteric washes ever. The hour session helped me release fears and settle into confidence. But she wasn’t the only person to support me. Guitar Monk Mathew Dixon has been coaching me for years now. We’ve made numerous instrumental albums together, such as Invoking Divinity. He stayed in my corner, listening to me rehearse, listening to me confide my fears, and urging me to hang in there. Then there’s Patrick Stark in Canada. He’s a filmmaker making a movie about overcoming fear.. He interviewed me for it. He plans to sing on stage with the band U2. But it will be the first time he’ll sing on stage EVER. Imagine it. The first time you sing in public anywhere is on stage with U2 and thousands watching. Well, if Patrick can drum up that kind of courage, then so can I. Right? But Mendhi Audlin came to visit. She teaches what if up thinking. She wrote the book What If it All Goes Right? It’s called “One Life: No Regrets.” I found preparing for the event mainly a battle with my mind. Most of my thinking was negative. It was all, What if it goes bad? MENTORS MAGAZINE | EDITION 1 | 11 She coached me in other ways to think: what if it is a breeze? What if I love it? James Altucher tried stand-up-comedy. He’s a writer. He’s doing something out of his comfort zone. But he’s willing to do it for the experience, and he’s sharing his learning curve to inspire others. Though I haven’t met him, knowing he was stepping out beyond his fear fortified me to do it, too. 2. I got educated. To prepare for my show, I attended an online Masterclass with David Mamet, and another with Usher. Both were astoundingly good. My band of legends: me, Daniel Barrett, Glenn Fugunaga, Joe Vitale Mamet is a Pulitzer prize-winning playwright and screenwriter. I think he is a genius. He said most people are too afraid to be bad to be good. You have to start someplace. I reminded myself of this as I prepared for the live event. While I wanted to step out on stage and be “perfect,” Mamet reminded me that I will probably step out and be bad. But bad is where you start. You can’t get to It also helps to see people successful in one field try their hand in a completely different field. You have to be bad first to start being good. 12 | MENTORS MAGAZINE | EDITION 1 great without starting at bad. Usher said to prepare, to be confident, but to expect something to go wrong. He told a story of a performance where he injured himself at the beginning of a two- hour show and had to keep dancing and singing despite the pain. His insights and pointers were priceless in helping me create a mindset for success. And I bought a set of audios called The Relaxed Musician. It’s a 14- day course in exploring limiting beliefs. It helped me realize I had a big belief that if I looked bad as a performer, it would hurt my reputation in other areas, such as an author or speaker. I could forget all my lyrics and totally wash out on stage and it wouldn’t even dent my image anywhere else. Most people forgive and forget. In fact, a miss on stage could give me a terrific story about how I bombed and lived. But I didn’t stop there. I read a terrific book on how to deliver an unforgettable live performance. I liked the book so much, I read it twice. It was called, The Musician’s Guide to a Great Live Performance. It became my bible. I read it on planes, took it with me on my iPad, and shared it with singer-songwriter friends. Author Jodi Aman helped take the mask off of fear so I could see what it really was: an illusion. I soaked up the wisdom in this book. It really helped me. I also read a 1950 book by Vernon Howard called Word Power. It was about how you talk to yourself, as well as to others, effects your behavior and your results. It’s not so much affirmations but self -talk. Pretending you are fearless by saying “I am a fearless performer” is a way to begin being a fearless performer. Don’t expect perfection. But like most beliefs, it didn’t hold up. And I read a wonderful book on overcoming fear and panic, ti- tled You 1, Anxiety 0. MENTORS MAGAZINE | EDITION 1 | 13 And I read a recent book, called Succeed. It explained that just visualizing success is a plan for failure unless you also visualize planning for setbacks. In other words, thinking the show will go without a flaw is not realistic, as Usher pointed out. There is no such thing as perfection. That was a mind-spinning insight. I did more, too. 3. I got Nevillized. With Meghan’s urging, I wrote out a script of how I wanted the show to go. I focused on my feelings, not anyone else’s, so I could focus on what I could control. The script was a type of Nevillizing (which I write about in my book, The Attractor Factor): feeling as if the event already happened the way I envisioned it. I didn’t visualize the show happening, I visualized that the show already happened. Big difference. I wrote the script from the point of view of the next day, after I performed on stage. I read and re-read it every day for a week before the show. And — 4. I got relaxed. I got massages, I got plenty of rest, I drank lots of water, and I went into a flotation tank at The Zero Gravity Institute for 90 minutes the day before the show. I was doing whatever I could to be at peak But visualizing success and under- standing there is work to do to get there, can almost guarantee the re- sult you want. 14 | MENTORS MAGAZINE | EDITION 1 form when I stepped on stage. I was taking care of my body and mind. I was getting ready for my moment. 5. I got faith. Faith doesn’t always mean something religious. Faith in yourself, faith in other people, faith in my practice and prep, faith in my Band of Legends – all of it gives a level of confidence that allows the best to surface. I accepted that the moment would be perfect, even in any imperfections. It would be “perfectly imperfect.” I let go. I trusted. My Band of Legends and myself performed on July 21st at The Townsend in Austin. I’m the luckiest musician alive to have a band of this caliber: Drummer Joe Vitale (yes, same name as mine), bass man Glenn Fukunaga and lead guitarist Daniel Barrett. These incredible musicians encouraged me, supported me, and brought my songs to life. We raised the roof and tore down the walls. We shook the earth and wowed the crowd. Talk about overcoming fear!!! I gave everything I had in me, delivering my messages with energy, enthusiasm, electricity, and a sense of fearlessness and fun. At the end of our set, we got a standing ovation. A standing ovation! I did it. And I loved it! Now, what do you fear that is time for you to do? Isn’t today a good day to begin overcoming fear? Expect Miracles. Ao Akua Joe And, after two months of preparing, what happened? As a slogan I coined says, “It is what you accept.” MENTORS MAGAZINE | EDITION 1 | 15 Dr. Joe Vitale is a globally famous author, musician, marketing expert, movie, tv, and radio per- sonality, and one of the top 50 inspirational speakers in the world. His many bestselling books include The Attractor Factor, Attract Money Now, and Zero Limits, and his latest releases are The Miracle: Six Steps to Enlightenment, and Anything is Possible, Seven Steps For Doing The Impossible. A popular expert on the law of attraction in many movies, including The Secret, Joe has appeared on all the top tv networks and in The New York Times and Newsweek! Also well-known as a healer, helping people clear their subconscious minds of limiting beliefs that prevent them from manifesting their desires, Dr. Joe Vitale is an authentic practitioner of modern Ho'oponopono, a certified Reiki healer, certified Chi Kung practitioner, certified clini- cal hypnotherapist, certified NLP practitioner, ordained minister, and holds a doctorate in met- aphysical science. Creator of the Miracles Coaching® program that helps people achieve their dreams, this man, once homeless is today a bestselling author who believes in magic and mir- acles and has spent the last four decades learning how to master the powers that allow us to channel the pure creative energy of life without resistance. www.mrfire.com 16 | MENTORS MAGAZINE | EDITION 1 Launching or running a business is exciting. You get to claim your independence. You can finally make the rules. But the details can bog you down. When you don’t have experience, you can get overwhelmed by questions about what to do to ensure success or how to make business decisions that are specific to your industry. Mentors have been through it and can give you their support and share their wisdom with you. Approximately 50 percent of small business- es don’t last five years. However, 70 percent of small business owners make it past that hump when they work with advisors to build their leadership skills as they learn and grow. Those who want to be on the successful side of those statistics need to make sure that they create a solid relationship with some type of guide or teacher who helps them reach their full potential. Mentors need to understand their roles so that they provide valuable insight and create confident trail- blazers that have the determination to run a thriving business. The Role of a Mentor By Neil Ball MENTORS MAGAZINE | EDITION 1 | 17 Serve as a Guide According to the Merriam-Webster Online Dictionary, a mentor is a “trusted counsellor or guide.” The secondary definition is “tutor, coach.” Most experts agree that someone in a men- toring position plays a different role than a coach would. Coaches typically help busi- nesses set and meet goals. They focus on helping entrepreneurs, business owners and managers come up with the most efficient ways to achieve their objectives. A good coach doesn’t tell someone what to do. Instead, coaches help draw out someone’s inherent wis- dom through structured tasks, exercises and ques- tions. For this reason, a business coach doesn’t need experience in an individual’s industry to help them develop the skills that are necessary for a productive, efficient business. A mentor, on the other hand, usually has di- rect experience in the same field as the mentee. Those in mentorship positions help entrepreneurs and business owners learn how to work industriously, make assess- ments and set priorities. But their guidance doesn’t stop there. They have been through the same challenges that their mentees are undergoing. They can ex- plain how they navigated certain obstacles so that their protégés can identify their op- tions and understand what works without having to experiment themselves. They are advisers. They are teachers. They are leaders, examples and guides. A mentor can help an individual create a map to steer through the stumbling blocks that come with starting, managing or run- ning a business. Create Structure When someone is launching a business, mentoring can help them create a business plan and structure the business. A colleague in this position can offer advice for setting up the foundation of the company. The relationship usually goes on for a long- term period. Mentoring advisers continue to work with individuals when they have ques- tions about the intri- cacies of the business, including understand- ing the cost structure, setting up marketing strategies, making hiring decisions and allo- cating resources. When difficult decisions have to be made, people in mentorship positions can help their mentees look at the pros and cons of the available options. In many cases, the mentor has been through a similar situation. Mentoring can offer specific advice from a personal perspective when the business owner otherwise has access to only general recommendations. Give Advice and Feedback A relationship of this kind gives individuals a chance to get advice and feedback when they need it. Mentees can look to their ad- visers to provide an objective outlook. They are advisers. They are teachers. They are leaders, examples and guides. 18 | MENTORS MAGAZINE | EDITION 1 The counsellors don’t have a stake in the de- cisions that are made. Therefore, they can provide a devil’s advocate perspective and debate problems without worrying about offending anyone. Be Accessible A mentor doesn’t have to be instantly acces- sible. However, advisers do need to be ap- proachable enough that the mentee feels comfortable looking to them for support. During mentoring, the mentee must be trained on the best way to contact their ad- viser when they need assistance. They should set up a protocol that involves under- standing when to share important infor- mation, how to contact the mentor and what to expect in return. Mentees should be instructed to reach out to their guides before circumstances become actual problems. When business owners and managers turn to mentoring to evaluate po- tential issues before they happen, they learn how to manage their situations to ensure success instead of simply putting out fires. Provide Accountability Mentoring can help someone reach their business goals. People in this leadership po- sition provide accountability and keep their mentees on track. Mentoring helps people take responsibility for their actions. People in the leadership role can often serve as a direct example of what can be achieved when mentees accept ownership for their decisions. To create accountability, mentors must set specific, realistic expectations. This establish- es clear boundaries and provides direction for the relationship, enhancing the potential for positive results. Help With Networking Having an adviser gives mentees a chance to build their networking opportunities. A col- league on the giving end of this relationship has been through it all before. They’ve usually created a network for them- selves. They can help mentees access this network to boost their own potential. An ad- viser is an insider who is on the outside of the mentee’s social and professional circle. This relationship can help someone make contacts that they wouldn’t otherwise be ex- posed to. Offer Motivation and Support Part of the mentorship role is to provide sup- port and encouragement. These advisers should demonstrate that they are counting on the mentee to act a certain way. As a role model, a counsellor is inherently motivating. These individuals have usually been successful doing what the mentee strives to accomplish. They can enhance the motivation factor by working with the mentee to access intrinsic motivation. When mentees consistently ac- cess the fundamental rewards that come from certain behaviours or a particular level of performance, they maintain their desire to reach their goals. All mentoring relationships are unique. To make the most out of this ongoing associa- MENTORS MAGAZINE | EDITION 1 | 19 tion, the adviser must be respectful, honest and non-judgmental. The best connections are built on trust. Both of you should know what you want out of the relationship and give as much as you receive. Neil Ball has been a serial entrepre- neur for over 25 years with busi- nesses in sectors such as Printing, Consumer Electronics, Distribution, Removals, Storage, Mail Order, Property Investing, Publishing and more. He has had his share of fail- ures and successes on his entrepre- neurial journey. The most success- ful of his businesses sold approxi- mately £300 million or $500 million of products via retail, mail order and ecommerce and was one of the largest independent consumer elec- tronics companies in the UK. In recent years Neil’s passion for entrepreneurship and helping other entrepreneurs has led him to becoming a podcaster on his daily podcast The Entrepreneur Way where he interviews entrepreneurs and business owners on their entrepreneurial journey and their secrets of suc- cess. He is also a business coach and helps a small number of one on one clients in his coach- ing business.. When he isn’t working on his business or helping others your will find him spending time with beautiful wife Lorna and his 4 adult kids. To connect or learn more go to: www.neilball.com Twitter: @NeilDBall Linkedin: @NeilDBall 20 | MENTORS MAGAZINE | EDITION 1 When you look at a healthy company, one of the first things you’ll notice is its access to working capital. The second thing you might notice is how the company manages that capital. Working capital is frequently defined as the difference between your company’s assets and your liabilities. That means you’re talking about money that your business has on-hand, unpaid invoices, and any inventory compared to your accounts payable and money your business owes. It looks simple. But how do each of these different elements MENTORS MAGAZINE | EDITION 1 | 21 come together to form the basis of working capital management? It’s important that you have a fundamental understanding of what makes up working capital. Working capital management usually has three key features. Each of these fea- tures is equally important in determining the financial health of your business. 1. Accounts Receivable First, look at your accounts receivable. This is the money due to your company. Any ser- vices or goods you’ve already provided for which you’re expecting payment can be con- sidered as accounts receivable. Your ac- counts receivable also include any overdue invoices you’ve sent to clients or customers that they’ve agreed to pay, but haven’t gotten around to yet. Most importantly, your accounts receivable represent your incoming cash flow. Goods or services for which you’ve already invoiced can be collateral you can borrow money against. Knowing that you have incoming cash flow on the books can be a big deal when it comes to getting your money. 2. Accounts Payable When you have determined your accounts receivable, you can check out your accounts payable. Your accounts payable are any bills (or other money) that your company has to pay in the short term. A lot of companies often try to delay accounts payable as long as they can to maximize how much positive cash flow they have available. One way companies do this is by applying “net” payment terms — such as net-30, net- 60, and so on. These net terms can be bene- ficial for large businesses, but they’ve also made a ripple effect through all kinds of in- dustries where small and medium-sized businesses (SMBs) are put in tough spots. 3. Assets and Inventory You also need to make sure you keep track of every asset belonging to your company. Any inventory of everything your company currently has on hand is thought of as a posi- tive asset. This is assuming that any invento- ry you have on hand is going to be sold and converted into capital. How a business manages its inventory can indicate the overall operational efficiency of your business. It’s important that you have enough inventory on hand to fulfill any po- tential orders, but not so much that you have an inordinate amount of working capi- tal tied up in your inventory. How your business handles these three com- ponents is the cornerstone of working capi- tal management. Now that you know what working capital management is, it’s crucial for you to understand why it’s so important. 22 | MENTORS MAGAZINE | EDITION 1 Working capital management is vital to the success of your business and how your busi- ness is viewed by others. The ability to properly manage working capi- tal also relates to the growth of your busi- ness. This is in addition to its overall operational viabil- ity. Managing your working capital is about more than keeping cash on hand and having a financially solvent company. It’s about how you’re using that money and if you have the business acumen necessary to capitalize on your as- sets. Reliable working capital management means ensuring that your business maintains a pos- itive cash flow. This cash needs to satisfy any short-term operating on top of any other bills. The amount of working capital you have compared to your existing obligations de- fines your working capital ratio. The formula for your working capital ratio is that you take existing assets and divide them by your lia- bilities. This ratio is key to determining the financial health of your company. A ratio of less than 1.0 may indicate that your company cannot to meet its short term debts and might be dealing with liquidity issues. This is also a sign of a business experiencing cash flow gaps. If your working capital ratio is too high, it could mean you don’t know how to take ad- vantage of an opportunity. If your working capital ratio is higher than 2.0, it may re- flect that you don’t know how to make the best use of your assets to invest back into the business and con- tinue to grow your company while increasing revenue. The “goldilocks” zone of where you want your working capital ratio to lie tends to fall in between 1.5 and 2.0. This tells people that your business is financially solvent with plen- ty of cash on hand, but is still taking proac- tive steps as it pursues future growth. We’ve shown how you can define working capital management. You also need to un- derstand why properly managing your work- ing capital is important. What can SMBs do to create more working capital in a world where it seems like everyone is trying to de- lay payments for as they can? We already discussed it, but existing invoices MENTORS MAGAZINE | EDITION 1 | 23 are a key component of accounts receivable. We also mentioned how you can rely on these invoices as a form of collateral in se- curing additional working capital. This is where invoice financing and invoice factor- ing can come in handy. While net-terms can be convenient for large businesses looking to manage their working capital, they can quickly become unfair to the small and medium-sized businesses rely- ing on these payments to keep their busi- nesses afloat. Invoice financing provides a much-needed lifeline for SMBs looking to get a firm grasp on their working capital management and allow for the cash flow they need to keep debt obligations paid and everything else running smoothly. Alternative lending is gaining traction among small businesses thanks to its more relaxed qualifications, convenience, and fast access to a capital. When SMBs can have up to 100% of their outstanding invoices advanced to them in as little as 24 hours, it’s not hard to see why. As long as a business has docu- mented, outstanding invoices, it can reach out through online invoice financing to se- cure the working capital it needs to continue to operate at a high standard. It’s hard to talk about working capital man- agement without having the cash flow to manage in the first place. Thanks to alterna- tive lending services like online invoice fi- nancing, businesses are no longer held hos- tage by one-side net payment terms that on- ly serve to benefit large companies. Through access to more working capital on a faster timeline thanks to invoice financing and invoice factoring, SMBs are able to pro- actively manage this capital to further grow their business. Rather than wait for months on end to be paid for services rendered or goods you’ve already produced, a business can receive the money its owed on time and focus on running their business, rather than tracking down customers for payment. Steven Uster is the Co-Founder & CEO of FundThrough, an invoice funding service that helps business owners eliminate "the wait" associated with payment terms by giving them the power and flexibility to get their in- voices paid when they want, with one click, and in as little as 24 hours. Prior to FundThrough, Steven was an investment banker in New York at UBS and Centerview Partners. Steven has an MBA from The Wharton School and a Bachelor of Commerce with Honours from McGill University, where he was a Loran Scholar. Instagram: @FundThrough_ Twitter: @FundThrough Facebook: @fundthrough 24 | MENTORS MAGAZINE | EDITION 1 For the past 20 years, we’ve worked with a wide range of companies and organizations all over the world, including a number of Fortune 20 companies. We’ve noticed a growing sense of dissatisfaction, and the de- sire of both leaders and employees at all lev- els to find greater meaning and impact in their work. As we begin 2019, this wide- spread hunger for a new sense of fulfillment in our work and the need for transformation to meet the challenges that constant change bring is more prevalent than ever. With this in mind, we offer a step-by-step path to fill- ing this void with a new sense of shared pur- pose and value. The purpose of transformation Old into new: In 2019, we need to transition more than ever from the Old Story of Profit First to the New Story of Purpose, which is made possible by a three-part path, which we call Working The Future! Today: 1. Purpose: Why?—your destiny. 2. Place: Who?—your destination. 3. Practice: How?—your journey. To pull all this together with a clear view of the path forward, we explore foundational thoughts on perennially popular corporate topics: collaboration, innovation, and trans- formation—all of which are about creating a better today and tomorrow. The Old Story of Profit First is dying, and there is nothing to replace it. What we des- Why Your Brand Must Transform to Stay Relevant—And How To Do It ————————————————————————————————— BY WHITNEY VOSBURGH ———————————————————————————————— Editor’s Note: The following is an excerpt from “WORK THE FUTURE! TODAY 2019 POCKET PAL: A faster path to purpose, passion and profit,” available on Amazon. MENTORS MAGAZINE | EDITION 1 | 25 perately need and yearn for is a New Story of Purpose First. The old triple bottom line of profit, people, planet—in that order—has taken many of us far, but no longer. We need a new triple bottom line of planet, people, profit. Why? With no planet and no people, there can be no profit. Companies must be- come prophets of the new, so they can con- tinue to earn new profits. In order for com- panies to accumulate wealth, they must not only share the wealth but also ultimately recognize the role of all parties in the co- creation of that wealth—commonwealth. Transformation nation: Sadly, so many peo- ple have neither meaningful work nor life, which is made dramatically evident by the rapid rise in our suicide rates, opioid addic- tions, debilitating stress levels, and lack of civic engagement across almost all de- mographics—the United States of Aliena- tion. Collaboration into sharing: People do not truly collaborate unless they know their best interests have been fully embraced. That is called shared purpose. Innovation does not happen in a vacuum—it is part of an inter- connected chain of simultaneous events, factors, and influences such as shared pur- pose, vision, and leadership, as well as inspi- ration, imagination, and invention; all of that leads to shared value creation. What combines shared purpose and co- creation of a future desired state is commu- nity, and from both the corporate and stake- holder points of view the ultimate fruit of these unions is called commonwealth, wealth for all, not just for the one percent. Within the corporation, that commonwealth is called culture—all that you do and don’t do relative to others in the minds, hearts, and wallets of your brand community of stakeholders and the places you do business. The purpose-profit connection: In the New Story, which is the future of work, there is a direct connection between purpose and profit. All healthy businesses are founded with a core purpose and values, as well as a vision, mission, and value proposition. Pur- pose has to come before profit, not only at the inception of a business, but all through the business lifecycle. Increasingly, the more stakeholders have an ever-renewing brand, a new sense of positive purpose and value, the more profitable and sustainable a busi- ness will be. Customer experience and con- tent are made from these threads. Transformation is not a standalone concept. It is like a valued brand: an active, shared, 26 | MENTORS MAGAZINE | EDITION 1 positive, and aligned purposeful culture, which is built on a foundation of strong, emotional, transformative experiences such as a sustaining story of origin—why we exist and whom we serve—to serve as a collective and sustaining north star. A healthy, vibrant sustainable culture has three legs: Each leg is supported by its brand communi- ty of stakeholders. The stronger the commu- nity, the stronger and smoother support for the three legs of the culture. Incremental in- novation is possible without a purposeful culture. However, continual transformation is only possible in a purposeful culture, and without continual transformation, business- es and organizations will not be sustainable. They will be tomorrow’s corporate road kill, squashed by relentless competition, change, and transformation. The power of transformation Work The Future, Today: Collaboration, in- novation, transformation: There are two basic processes that bring the future to you and your organization: innovation and trans- formation. Too much has been written about innovation and too precious little on trans- formation. And neither is truly possible with- out collaboration, which is the social glue holding and bonding them together. Collaboration, at a conceptual level, in- volves: Awareness: We become part of a working entity with a shared purpose. Motivation: We drive to gain consensus in problem-solving or development. Self-synchronization: We decide as individu- als when things need to happen. Participation: We participate in collabora- tion and we expect others to participate. Mediation: We negotiate, collaborate, and find a middle point. Reciprocity: We share and we expect sharing in return through reciprocity. Reflection: We think and consider alterna- tives. Engagement: We proactively engage rather than wait and see. Innovation is the harnessing of creative thought and action to a useful end for a short-term goal, which is meant to—at best—keep you where you are today, instead of slipping back. Transformation is: Future value creation for a shared long-term goal. A shared act of imagination translated into a treasured future. The art of scientifically bringing creativity continuously to life. Applied creativity that makes a long-term difference. MENTORS MAGAZINE | EDITION 1 | 27 Irreversible, substantive, creates new identi- ty, and contains a shift in purpose. A shared activity where peo- ple come together to co- create the future today and create something of lasting and sustaining value. Creating your brand new story: It might be said that true and sustainable trans- formation is about creating an ever-renewing story encapsulated in a liv- ing, breathing brand and culture that is kept together by shared purpose and value. The three ingredients of a sustainable culture— sustained by shared purpose—in the new world of work are: 1. Brand Purpose (WHY: promise, passion, and perception) 2. Brand Participation (WHO + HOW: part- nership, participation, and process) 3. Brand Performance (WHAT + WHEN + WHERE: planet, people, and profits) What’s your New Story? Purpose, leader- ship, and place let you pull the future to- ward you. You surround it, you dance with it, and you make it real and share it with oth- ers. The outlines of the New Story narrative are emerging from the fog of the past. It’s more about harmony instead of control; it’s more feminine than masculine; it’s more about stewardship than exploitation; it’s more about co-creation than about what’s already built. And it’s more about living in the pre- sent with an eye to the future than not being present and looking toward the past. We conclude with a playbook to get you started on your pathway to purpose, possibility, and plenty. The path to sustainable profits and overall sustainability is through shared, aligned pos- itive purpose. The path of transformation “The cave you fear to enter holds the treasure that you seek.” — Jo- seph Campbell Finding your true north: The way to make your way along the path of emotional trans- formation toward purpose parallels the clas- sic story of the hero’s journey. It is a path of what Carl Jung called individualization or be- coming oneself. Or, in an organizational setting, finding your purpose—your true north. The process by which this occurs is 28 | MENTORS MAGAZINE | EDITION 1 called differentiation and has as a goal of the development of the individual or organiza- tional personality, the discovery, and ac- ceptance of one’s true purpose. The path is often summarized as having seven distinct, but overlapping, stages. The brand new path to purpose: Now, we are at a point in our journey where we need to look at just how we’re supposed to be able to make this transition to purposeful and sustainable transformation. Use this sev- en-step path to guide you and your organiza- tion through this transition. Below you’ll find the steps in the order you’ll take them. For each step, you’ll see the name of the state associated with that step, the quality you should be experiencing dur- ing that particular stage of transition, and the activity you’ll associate with that step. 7 Steps: The purpose path Step 1. Initiation: Recognizing the Real World Socialization: Looking from outside to inside. Brand focus: Your focus is on your brand. Brand development (activity): Awareness that something is missing and time is pass- ing. You move to get something you need. You begin seeking answers to nagging ques- MENTORS MAGAZINE | EDITION 1 | 29 tions, such as “What is our core purpose?” Step 2. Involvement: Call to Adventure Brand action: Struggle: Looking from inside to outside. Brand focus: Your focus is your brand in the marketplace. Brand development (activity): Looking at parts of ourselves we don’t want to look at. Introspection: “Is it us or has the world changed without us?” Step 3. Inquiry: Meeting the Mentor Brand action: Service: Moving from inside to outside. Brand focus: Your focus is on your brand community. Brand development (activity): Sharing what we know in order to build future capability with our stakeholders and the communities where we do business. Sharing provides a bridge from what was to the New Story. Step 4. Improvement: Crossing the Thresh- old Brand action: Showtime: Going from old playbook to new. Brand focus: Your focus is on brand activa- tion. Brand development (activity): Creativity is expressed through innovative culture. You experience the “flow” state and begin to act in brand new ways, building off the old into long-term sustainability. Step 5. Inspiration: Road of Trials Brand action: Sensing: Opening up to co- creation. Brand focus: Your focus is on collaboration with your brand community. Brand development (activity): Actively co- creating brand value and perception. Firmly committed to a pathway of purposeful change. Step 6. Innovation: Seizing the Prize Brand action: Stewardship: Walking your talk. Brand focus: Your focus is on brand leader- ship. Brand development (activity): Realizing and acting upon new marketplace demands such as authenticity, transparency, responsibility, and engagement. Step 7. Iteration: Return with the Treasure Brand action: Simplification: Knowing shift happens. Brand focus: Your focus is on your brand fu- ture. Brand development (activity): Oh, shift! De- veloping a firm grasp of the obvious: Pur- pose = profits. Change, complexity, and com- petition are relentless and ruthless. 30 | MENTORS MAGAZINE | EDITION 1 Call to Action for a Brand New World Humans change at the speed of snails, but everything around us changes quickly and all the time, with ever greater velocity, impact, and complexity. We all need a flexible new framework. We call this contextual re- imagination. If you want to grow or keep growing your brand, you need to keep it new and stay focused on your shared purpose and value, while embracing change and pos- sibility, and driven by continuous renewal through collaboration, innovation, and trans- formation. WHITNEY VOSBURGH is co-author of the two WORK THE FUTURE! TODAY books, and co-founder of the company of the same name, which is a social venture offering vision, leadership and solutions for maximiz- ing personal, organizational, and societal potential. He is also co-founder of Brand New Purpose LLC, a brand transformation consultancy that creates purpose- built, value-driven opportunities for leaders and or- ganizations of all sizes. As an interim Fortune 20 Chief Marketing Officer, Whitney has guided over $20 billion in value creation. His expertise has been featured in four books on the Future of Work, including a bestseller by Dan Pink. Whit- ney’s work is featured in numerous media outlets including ABC, BBC, Conscious Company, Newsweek, Time, US News & World Report, Venture, and The Wall Street Journal. As an au- thor, speaker and workshop leader, Whitney always asks, “Why?” — and then creates actiona- ble clarity by turning complexity into simplicity. His purpose is to elevate people, organiza- tions, and communities to a brand new sense of purpose, possibility, and plenty. Whitney fo- cuses on inspiring and leading short-term innovations and long-term transformations, so we can share our gifts and passions with the world to make a lasting difference. Whitney graduat- ed with a M.A. in Religious Leadership for Social Change from the Graduate Theological Union in Berkeley, and with a B.F.A. in Communication Design from Parsons School of Design in New York. He has a world of experience — having lived, studied, and worked all over Europe, Asia, and America — and brings this all together both in his work, writing, speaking and art. www.workthefuture.today LinkedIn: @WhitneyVosburgh Twitter: brandguru MENTORS MAGAZINE | EDITION 1 | 91 32 | MENTORS MAGAZINE | EDITION 1 MENTORS MAGAZINE | EDITION 1 | 33 I don’t believe leaders are born; I be- lieve that they are self-made. Sure, there are times when, by sheer seniority, somebody gets bumped up into a position where they might suddenly be running the shop, have a bunch of employees under them; ‘leading’ in a manner of speaking. But one must grow in- to being a leader, and to do this, one must climb the rungs of an imaginary ladder, learn- ing, losing their footing even well before one gets to leadership nirvana if they ever get there at all. Some people don’t ascend to the meta- phorical leader penthouse, while others are quite content on reaching and staying at a specific rung. Only you know the kind leader you will turn out to be. But to be a person who influences others in the most positive of ways, and uses the full force of his or her awareness and abilities, you need to climb all the way up these levels, not skipping any steps along the way. Boss As I just mentioned, a man or wom- an can, and often do, become boss, only by being promoted. But if you have even a smidgen of awareness, you will quick- ly realize how little real power and influence you have, even though you are the boss. At this level, I dare say you’ll have to work to gain the trust and respect of people, earn the ‘right to lead,’ whether you are a principal of a school, or just promoted to head dentist. Teetering on this first rung, one relies on rules, regulations, politics, and organiza- tional charts to control people; don’t get a big head here, you are not much more than a glo- rified manager. Sure, this is the first step, but being a boss doesn’t mean you are a leader. 4 Steps To Leadership Nirvana Step 1 BY DR. STEVEN HYMOVITCH 34 | MENTORS MAGAZINE | EDITION 1 Friend This next-level up the leader- ship food chain is the first step to real leadership, although lots of people view this as a step back and avoid it, much to their detriment. Employees give their leader per- mission, allowance, a welcome to lead them, only if a leader has earned their respect, car- ing, and nurtured friendships. Although plen- ty of bosses, leaders think that cultivating fear or cre

Discover what MENTORS Magazine has to offer in each issue by subscribing for free. With our outstanding articles written by expert contributors you will develop yourself with the rich content and actionable takeaways in every issue.

To take advantage of our launch offer and subscribe for free go to http://mentorsmagazine.com/

×

Modal Header

Modal body