Dal LaMagna Interview: Failure Is Not Final
If you subscribe to self-development eNewsletters, round about this time of the year, (late January of 2011), your inbox will be inundated with a ton of emails with subject headings like “10 reasons why your new year’s resolutions have failed” and that is usually followed by an offer of “How we can help”.
If you have stuck with your resolution to improve your health, fitness, finances, and personal relationships then kudos to you.
Okay, so the title of this article may sound like one of those motivational, “Come on people, pick yourself up when you’re down” types.
Maybe it is, may be it isn’t. It all depends on your perspective.
Dal LaMagna Interview You can download the mp3 recording and pdf transcript of this interview by going to http://yourmoneyandyourmindset.com/online-store/
You see, we often make the mistake that successful people (millionaires) burst on to the scene as readymade straight out of the box (overnight) successes.
Some of these erroneous assumptions are engineered by the popular press because of the higher drama impact it has on the reader and hence circulation, and revenue (ooh, isn’t that cynical).
The reality is more boring, but nevertheless equally important.
It isn’t sexy to talk about the hard yards, sacrifices and sense of self belief and faith these people showed in the face of adversity.
Show me a person who claims to have just thought up an idea, implemented it and cashed in the millions of dollars without breaking into a sweat and I will show you Pinocchio.
So, I am going to throw you this idea. If you don’t fail, you will not know how to succeed. No, it’s not a mind bender, it actually occurs with predictable frequency.
I have made it my mission to ask self made millionaires how they arrived at their current situation.
Not a single millionaire has glossed over their multiple attempts before finally getting the right business plan, system or model to work well for them. Their candour and honesty is indeed refreshing.
Therefore, I would like to share with you the following interview with Mr Dal LaMagna, the founder of Tweezerman. He is actually a funny guy.
Mr Tweezerman
I have included a synopsis and titled the interview: How to fail your way to success
Dal LaMagna speaks honestly about his sixteen failed business ventures including turning down an offer from Coca Cola and saying no to being involved with the Woodstock Music Festival before he made his fortune from his company Tweezerman.
Tweezerman started as a one-man operation with seed capital of $500. By using head and heart business principles to grow his venture, he was able to walk away with millions when he sold it years later.
Dal shares his wisdom and insights on how to succeed as an entrepreneur in his new book Raising Eyebrows: A Failed Entrepreneur Finally Gets It Right (John Wiley & Sons).
He has done a huge favor to all the budding business tycoons out there by being up front and authentic when he tells it like it is which means you have to do the hard yards and own up to your mistakes, and that’s just for starters.
What more, the man shows that you can be a capitalist and have a social conscience.
I found Dal’s leadership style inspirational-there aren’t many CEOs who genuinely care and will take onboard every employee’s suggestion to grow a business.
Tweezerman flourished because Dal had the foresight to make each and every employee a partner in the business. Yes folks, they got a share of the revenue, not just a monthly pay check.
Do yourself a favor, get the book and read Dal’s many tips on how to succeed in business, and maybe just maybe you will not need to fail 16 times before hitting the mother lode.
Find him at his website:
http://www.dallamagna.com
Women Executives: Leadership Role Models (Part 2)
Just in case you are wondering if there is still a stigma attached to being a woman and aspiring to executive and management roles, please read the article below.
I would be very interested to hear your thoughts
Maternity leave will kill your career, recruitment companies warn women
By Jane Hansen The Sunday Telegraph, September 19, 2010
Pregnancy
Refusing to promote a woman because she pregnant is illegal but recruitment agents believe those who take maternity leave are less likely to get ahead.
HEAD-hunting companies say women should forgo maternity leave if they want their careers to flourish.
Refusing promotion to an employee because she is pregnant is illegal, but leading head-hunters admit mothers are more likely to be promoted to top-level positions, such as chief executive officer or board director, if they do not take maternity leave.
“You’re only the parent of a one-year-old for a short time and if an employee is worried about childcare arrangements, uncomfortable, or worrying who’s looking after the baby, then I’m not sure you’ll be focused on the job,” recruitment firm Talent 2’s New South Wales (Australia) general manager Nicholas Tuckfield said of women who return from maternity leave too early.
Mr Tuckfield, who head-hunts candidates for jobs with salaries of more than $100,000, said taking 12 months’ maternity leave in an extremely competitive job market would have a negative impact.
He said at senior executive level, where MBAs were mandatory and long hours par for the course, competition was stiff.
Highly competitive
“On a logical level, if you’re out of the workforce for 12 months you don’t advance your managerial skills and, inevitably, everyone else does,” he said.
“You don’t get to the top doing 37 1/2 hours a week.
“It’s highly competitive, and if you’re an aspiring rising star and take a year out, your star won’t keep rising.”
Julia Ross, who was pregnant when she set up her recruitment agency 22 years ago, said although times were changing, at the executive level it was unforgiving.
“If you’re aiming for managing director, stopping and starting your career will make it tougher to place yourself properly,” Ms Ross said.
“You may even pass up promotions but, hey, it didn’t stop (Westpac Chief Executive Officer) Gail Kelly, did it?”
Fair Work Ombudsman chief counsel Leigh Johns said more than 70 pregnancy discrimination complaints had been made to the agency since its inception in July last year.
Complaints
A prosecution has been launched in the case of a 36-year-old mother-of-one who allegedly was told she might not be able to return to her position as clerical worker and that her pregnancy had “caused inconvenience” for a printing company.
Several of the complaints, including those arising from employers declining to keep a job open, demotion of someone on parental leave, and refusing promotion to an employee because she is pregnant, are currently under investigation.
Mr Johns said women needed to be aware of their rights.
“News of impending parenthood should be met with delight, not discrimination,” he said.
Neil Waters from Egon Zehnder, a company which specialises in placing chief executives, said if a woman was genuinely good at her job she would be given the right to juggle work and pregnancy.
“You can’t put a line through someone because they’re going to bear a child … but there are trade-offs and not everyone can make them,” he said.
“The CEO becomes the company. It’s hard work, 18 hours a day, six days a week, and it’s an enormous commitment.”
Slow change
Other top level executive recruitment officers, such as Heidi Mason from Russell Reynolds, said the findings were a reflection of an old, conservative view which was slowly changing.
“I think there’s a perception that there’s an impact, but we’re starting to respect that men and women who balance their lives make better leaders,” Ms Mason said.
But the fact remains that only two per cent of chief executive roles are held by women, and men outnumber women on boards by 10 to one.
The NSW Anti Discrimination Board president Stepan Kerkyasharian said there are unwritten rules at play that explain the deficit of women in the upper echelons of business.
“Some recruitment agencies may be complicit in this, a client says to them ‘no, we don’t want a women who might get pregnant’ wink, wink, nudge nudge,” he said.
Women Executives: Leadership Role Models (Part 1)
If you think 21st century women have it made as top flight executives, Chief Executive Officers and the ultimate holy grail of governance as Chairman of the Board of a multi national corporation, think again.
Male captains of industry have been fortunate to have so many outstanding male examples to model as they ascend the corporate ladder. In fact there is an embarrassment of riches with regards to asking and getting a strong and positive mentor to help them grow and develop into the top job.
The same cannot be said for females. Women executives in leadership positions are few and far in between according to some statistics I uncovered.
A 2008 Australian Census of Women in Leadership published by the Equal Opportunity for Women in the Workplace Agency found that the number of women on boards and executive management of Australia’s top 200 ASX (Australian Stock Exchange) companies could be counted on fingers on one hand (with one digit to spare).
The percentage of women as Chairman and CEOs were 4 of 200 (2.0%) in each category; board of directors numbered 125 of 1504 (8.3%).
There was no female on the board of directors in 51 % of these ASX 200 listed companies.
Because we see more women in business suits today (than say in the 1950s) there is an assumption that they must occupy executive management positions. The reality is that there are more women in middle management positions in human resources, finance, medical and health administration, and real estate and property businesses today than any other time.
However, at the pointy end i.e., top management where the real game is played, women are under represented.
In 2010, only 2.8 percent of Fortune 500 chief executives were female.
I believe that sisters need to do it for themselves.
Specifically they need strong, smart and compassionate female role models to help them navigate their way through the management maze.
How will they do this? I will discuss some strategies in my next post.
Yours in health, wealth and happiness
Blessed are the List Makers
It’s been two weeks since Easter and here in Australia, the kids are going back to school. As much as we love the little dears, we can now turn our attention to more pressing things like getting some semblance of a routine back.
Whilst we lament that God gave us only 24 of those precious hours, we have also been given the smarts to organize our busy lives around it.
Here is a great tip for doing that-all you need is a pen and a piece of paper and if you are technologically savvy, use your cell phone.
Every morning as you are sitting down to your first cup of coffee, WRITE DOWN EVERYTHING you need to 1) DO (client/business phone calls), 2) GET (groceries), 3) BE AT (meetings or dropping the kids off or picking them up) and 4) PAY (power, phone bills) for the day.
Yep, it is that easy. You see what happens is that you are focusing on task completion. This means less stress because you don’t have to REMEMBER everything and it allows your brain to address other more interesting problem solving issues like how to have better relationships with your spouse and children (I kid you not).
Try it for a week and see how much more relaxed and serene you feel and if you don’t like it you can go back to where you were before.
Yours in health, wealth and happiness