Introduction
Guy Kawasaki, known for his pioneering marketing role at Apple and his work as an evangelist for Canva, has built a career on bold ideas, grit, and a no-nonsense approach to personal and professional development. His podcast, “Remarkable People,” and his book “Think Remarkable” offer potent insights into leadership, success, and fulfilment. Kawasaki provides unique insights and lessons from his experiences and interviews with remarkable figures like Jane Goodall and Steve Wozniak. This post will explore some of the core takeaways from a recent podcast interview I did with Guy on the 1% podcast, touching on themes such as growth, perseverance, work-life balance, and leadership.
1. The Growth Mindset: A Pathway to Resilience
One of the central themes of Kawasaki’s work, inspired by Carol Dweck’s research, is the concept of a growth mindset. Having a growth mindset means embracing challenges, seeing failures as opportunities for learning, and continuously pushing oneself to develop new skills. In the interview, Kawasaki delves into the importance of surrounding oneself with environments that foster this mindset. Whether in personal or professional settings, it’s crucial to be in spaces that support growth and development rather than stagnation.
Kawasaki highlights the danger of environments where people are either confined to rigid roles or told they are already perfect. These situations stunt growth because they discourage experimentation and vulnerability, which are essential for true progress. For those in difficult life circumstances—juggling multiple jobs or dealing with heavy responsibilities—he advises starting small. Curiosity and incremental steps toward improvement can still spark significant transformation over time.
In his own life, Kawasaki embodies the growth mindset, taking up new challenges like surfing at the age of 60. He acknowledges that growth is a long-term process and that excellence comes from sustained effort over time. “It took me ten years to become a mediocre surfer,” he laughs, underscoring the point that mastery requires patience.
2. Grit: The Fuel for Sustained Success
Angela Duckworth’s work on grit has deeply influenced Kawasaki’s thinking. Grit, as Kawasaki defines it, is the relentless perseverance that pushes you to keep going even when the odds are against you. Whether you’re working through failure or simply grinding through daily tasks, grit is what separates those who succeed from those who falter. He emphasises the importance of showing up, again and again, noting that most people give up far too soon.
Kawasaki points out that being remarkable isn’t about sudden moments of genius or lucky breaks—it’s about doing the “shit work” that others are unwilling to do and continuing to do it long after others have quit. This willingness to keep going, even when the path is tough, makes a person indispensable.
He offers this simple but profound advice: “Keep showing up.” Most people, he notes, will stop showing up after a short while, but those who persist—whether in business, personal growth, or even hobbies—are the ones who ultimately become successful. Grit, in Kawasaki’s eyes, is the real key to sustained achievement.
3. The Myth of Work-Life Balance
Kawasaki doesn’t mince words when it comes to work-life balance, especially for young professionals and entrepreneurs. His blunt message is that work-life balance is not something achievable at the beginning of a career. “If you’re 25 and you want to be remarkable, forget about work-life balance,” he says. Instead, he suggests viewing balance as something that happens over a lifetime. In the early stages of a career, you’re going to be overworked and underpaid. Later, if you play your cards right, you’ll find yourself overpaid and underworked.
Work-life balance is, in Kawasaki’s view, a long game. You may have to grind through long hours and tough conditions early on, but that investment pays off later with more flexibility and freedom. He urges young professionals not to fall into the trap of expecting a smooth, balanced life right out of the gate. “You can’t have a job where you’re working three hours a day from Bali and expect to be remarkable,” he quips. The path to success is messy, full of long hours, and often requires sacrifices.
4. Quitting vs. Persevering: Knowing When to Pivot
One of the hardest decisions in life, Kawasaki admits, is knowing when to persevere and when to pivot. He uses his own story of quitting law school after just two weeks to illustrate the complexity of this decision. For him, quitting led to a series of opportunities that ultimately shaped his career, but he acknowledges that there is no simple formula for knowing when it’s the right time to quit.
Steve Jobs once famously said that you can only connect the dots looking backward, and Kawasaki echoes this sentiment. It’s only in hindsight that we can see whether quitting was the right choice. However, the key is to stay curious and open to new possibilities, whether you quit, pivot, or persevere. “It’s the next step that matters,” Kawasaki notes. Remaining curious and engaged is what leads to the next opportunity, whether you’ve pivoted or stayed the course.
5. The Importance of Vulnerability
Vulnerability is a critical part of growth, Kawasaki insists, especially when adopting a growth mindset. In the podcast, he shares that failure is inevitable, and one must have a tolerance for it. Taking up surfing at 60 is a perfect example—Kawasaki knew he would be terrible at it initially, but he embraced the challenge anyway. He makes it clear that being willing to be bad at something is part of the journey toward being good at it.
For many people, especially those in leadership positions or public-facing roles, admitting failure or weakness feels impossible. But Kawasaki insists that embracing vulnerability is not just necessary for personal growth—it’s essential for effective leadership. Without it, individuals miss out on learning experiences and opportunities for deeper connections with others.
6. Making Yourself Indispensable
Another key takeaway from Kawasaki’s wisdom is the value of becoming indispensable in your field. Andrew Zimmer, a famous food personality, once advised Kawasaki that the way to succeed in life is to do the work that no one else wants to do and to keep showing up, even when the work isn’t glamorous. Kawasaki builds on this by explaining that those who are indispensable get more opportunities, more freedom, and ultimately more success.
“Being indispensable isn’t glamorous,” he admits. It often means doing the mundane or difficult tasks that others avoid. But over time, being reliable, hardworking, and consistent can open doors that talent alone cannot.
7. Grace: The Final Pillar
Kawasaki introduces grace as the third and final pillar in his book. While growth and grit are about personal development and perseverance, grace is about giving back. He suggests that remarkable people, in the later stages of their careers, often seek to make the world a better place. It’s not just about personal success anymore; it’s about how much good you can do for others.
Kawasaki admits he loves the alliteration of the three G’s—growth, grit, and grace—but grace, in particular, strikes a deeply philosophical note. At the end of one’s life, he argues, you are measured not by how rich or famous you became but by how much better you made the world.
Conclusion: Embracing the Three G’s
Guy Kawasaki’s lessons from our podcast interview and his book offer a practical, grounded, and deeply human approach to success. The key to a fulfilling and impactful life, according to Kawasaki, lies in mastering three essential pillars: growth, grit, and grace.
Growth is about embracing challenges, staying curious, and being open to learning. It’s about creating an environment, both personally and professionally, that supports continual development. Whether you’re trying something new at 60, like Kawasaki did with surfing, or pushing yourself in your career, growth requires courage and the willingness to be vulnerable.
Grit is the perseverance that keeps you showing up when things are tough. Kawasaki’s emphasis on grit highlights that success is not about overnight achievements but about consistently doing the hard work that others shy away from. Whether it’s showing up for daily practice or handling the mundane tasks no one else wants, grit is the fuel for long-term success.
Finally, grace is the idea that success is not just about personal gain but about making the world a better place. It’s about taking the high road, giving back to your community, and leaving a positive legacy.
In essence, Kawasaki’s insights remind us that becoming remarkable isn’t about being a genius or having the perfect opportunity. It’s about continuous growth, showing up with grit, and leading with grace. It’s a blueprint for anyone looking to create a meaningful, impactful life, whether in business, personal pursuits, or simply in day-to-day interactions.
Remarkable Minds: Insights on Leadership, Innovation, and Success with Guy Kawasaki – Podcast
More on Perseverance
The Art of the Impossible with Steve Kotler – Podcast
Beyond the Spotlight: Unravelling the Hidden Truths of Survivorship Bias
Introduction
Pepe Mujica is dying. Pepe Mujica has lived. The 89 year-old former “philosopher president” of Uruguay is a pivotal figure in his country’s history, having helped lead the transformation of his small South American nation into one of the world’s healthiest and most socially liberal democracies. He also used to rob banks as a Robin Hood-esque leftist urban guerrilla, tunnelled his way out of two prisons, endured 13 years of captivity, including two in solitary confinement in a hole in the ground, and survived six gunshot wounds during a 1970 confrontation with the police.
Mujica’s story is astonishing, but it’s not what he’s best known for. Rather, he became one of Latin America’s most influential and important figures in large part for his plain-spoken philosophy on the path to a better society and happier life.
In April of this year, Mujica, already battling an autoimmune disease, announced he would undergo radiation for a tumour in his oesophagus. He is under no illusions about the fact that his time is running short. But before he goes, he still has a great deal more to teach us on how to live a life of value.
Lessons from Pepe Mujica: Simplicity and humility
Mujica is notorious for his humble lifestyle. Despite his position as president, he chose to live on a small farm rather than the luxurious presidential palace. He recently explained that decision to The New York Times. “We have a house for the president. It’s four stories. To have tea you have to walk three blocks. Useless. They should make it a high school.” [1]
He also continued to drive an old Volkswagen Beetle, a car that became an iconic symbol of his simplicity, whilst being the most powerful figure in the land. When a wealthy Arab sheikh offered to buy the car off him for $1 million, Mujica declined, saying, “This car is part of my life. I have no intention of selling it.” [2]
The palace was not the only ostentatious aspect of presidential life that grated him. “I once went to Germany and they put me in a Mercedes-Benz. The door weighed about 3,000 kilos. They put 40 motorcycles in front and another 40 in back. I was ashamed.” [3]
Mujica’s commitment to a simple life isn’t just about personal preference; it’s a reflection of his broader philosophy. He believes that material wealth does not equate to happiness. Speaking about his nickname as ‘the poorest president’, he said, “I don’t feel poor. Poor people are those who only work to try to keep an expensive lifestyle and always want more and more.” [4]
The modern world’s obsession with consumerism confounds and disappoints him. “It has generated a subliminal culture that dominates our instinct,” he says. “It’s subjective. It’s unconscious. It has made us voracious buyers. We live to buy. We work to buy. And we live to pay. Credit is a religion. So we’re kind of screwed up.” [5]
It can be hard to break from the trappings of the modern world, but it’s likely that we all have some aspects of it that we could successfully cull if we just made the effort. Mujica recommends we do. “You’re free when you escape the law of necessity,” he says, “when you spend the time of your life on what you desire. If your needs multiply, you spend your life covering those needs. Humans can create infinite needs. The market dominates us, and it robs us of our lives. Humanity needs to work less, have more free time and be more grounded. Why so much garbage? Why do you have to change your car? Change the refrigerator? There is only one life and it ends. You have to give meaning to it. Fight for happiness, not just for wealth.” [6]
He’s not unaware that these principles are out of step with modern practices. “I don’t fit in today’s world,” he told The New York Times. “You’re talking to a strange old man.” [7]
Lessons from Pepe Mujica: Embrace empathy and solidarity
Mujica’s presidency was marked by his deep sense of empathy and solidarity with the poor and marginalised. He donated about 90% of his presidential salary to charities that worked to improve the lives of the underprivileged. His policies focused on social justice, equality, and addressing the needs of the most vulnerable members of society.
One of the most powerful examples of his empathy was his decision to offer asylum to six Guantanamo Bay detainees in 2014. This move, which was highly controversial both in Uruguay and internationally, was motivated by his deep commitment to human rights. Mujica defended his decision by stating,”This is a question of human solidarity.”
Whether one agrees with the decision or not, one can respect that Mujica believed in sticking to his principles even if it was unpopular. It’s all too easy to trade values for personal gain. Authenticity and a clear, unbreachable set of principles can go a lot further.
Lessons from Pepe Mujica: Resilience and positivity
During Uruguay’s military dictatorship, Mujica was shot six times during a confrontation with the police and spent 13 years in prison, much of it in brutal conditions, namely in a small hole of solitary confinement, stripped of human contact. Mujica has spoken of the pain and difficulty of this period, during which paranoia and auditory hallucinations accelerated his torment. Still, he found a way to cope, developing mental strategies that helped pull him through. He talked to insects and animals and focused on maintaining his mental resilience. “We must learn to speak with the person inside us,” he says. “It was him who saved my life. Since I was alone for many years, that has stayed with me.” [8]
In 1985, after the dictatorship had finally ended, Mujica was released from prison. Twenty five years later he was the country’s president. His positive spirit endures to this day. Why? “Because life is beautiful. With all its ups and downs, I love life. And I’m losing it because it’s my time to leave. What meaning can we give to life? Man, compared to other animals, has the ability to find a purpose. Or not. If you don’t find it, the market will have you paying bills the rest of your life. If you find it, you will have something to live for. Those who investigate, those who play music, those who love sports, anything. Something that fills your life.” [9]
Lessons from Pepe Mujica: Foster a connection with nature
During his presidency, Mujica was a vocal advocate for environmental sustainability. He often criticised the global economic system for its destructive impact on the environment. In a speech at the United Nations, he said, “We have destroyed the real jungles and sown anonymous cement jungles. We have tackled a sedentary lifestyle with walking, insomnia with pills, solitude with electronics. Can we be happy when we are so far from the human essence?…I reiterate that what some call our planet’s ecological crisis is the result of the overwhelming triumph of human ambition. This is our triumph and our defeat, given our political impotence to fit into the new era that we have helped to build without realising it.” [10]
Mujica’s deep connection with nature has always been a central part of his life. Living on a farm with his wife, he cultivates his own vegetables and lives in harmony with the land. This connection to nature informed his environmental policies and his belief in sustainable living.
“When I’m in the field working with the tractor,” he says, “sometimes I stop to see how a little bird constructs its nest. He was born with the program. He’s already an architect. Nobody taught him. Do you know the hornero bird? They are perfect bricklayers. I admire nature. I almost have a sort of pantheism. You have to have the eyes to see it. The ants are one of the true communists out there. They are much older than us and they will outlive us. All colony beings are very strong.” [11]
Lessons from Pepe Mujica: Read and communicate (but not on your phone)
It is perhaps unsurprising that a man of such an ascetic nature has little love for the smartphone, having thrown his own away four years ago. “It made me crazy. All day talking nonsense…It’s not the phone’s fault. We’re the ones who are not ready. We make a disastrous use of it. Children walk around with a university in their pocket. That’s wonderful. However, we have advanced more in technology than in values.” [12]
He would rather we trade virtual communication for real life conversations. “Nothing replaces this,” he told The New York Times, referring to human-to-human interaction. “This is non-transferable. We’re not only speaking through words. We communicate with gestures, with our skin. Direct communication is irreplaceable.”
He laments that people so often struggle to find the time to read today. “I have one thing,” he says, “the magic of the word…The book is the greatest invention of man.” [13]
What can we learn?
Some will read Pepe Mujica’s words and philosophy and find resonance in them. Modern society is one of excess. It is virtualised, commercialised and draining on time, finances and energy. A lot of people want to get away from that, whether permanently, briefly or some middle ground. Others will see these words as hippy nonsense and socialist hooey. It’s doubtful Mujica himself would care much either way. For the extraordinary life he’s lived, when asked by the New York Times how he’d like to be remembered, his answer was characteristically simple and playful: “Ah, like what I am: a crazy old man.” [14]
More on Positivity
How Adopting a More Positive Mindset Can Transform Your Work
Optimism is a Force Multiplier
The Progress Principle: or How to Stop Worrying and Celebrate the Small Wins
Sources
[2] https://www.theguardian.com/world/2014/nov/07/uruguayan-president-jose-mujica-offered-1m-blue-beetle
[4] https://www.bbc.co.uk/news/magazine-20243493
[10] https://speakola.com/political/jose-pepe-mujica-address-united-nations-2013
Introduction
At some point or other, we’ve all wished we could simply press a great big reset button on our career and start over. We’d make better choices, follow the right path, take that risk, do it all so much better. Or at least that’s what we tell ourselves.
Sometimes that reset is impossible. Other times it is not just possible but necessary. Global circumstances, economic pressures and technological advances have left some industries redundant, with others soon to join them –– the dodo has become somewhat of a business trendsetter. A number of workers will need to retrain if not now then soon. Others simply may want a refresh, following either their passions or the money to pastures new. Either way, awaiting them is the prospect of starting again –– a mammoth task but an achievable one.
The numbers
In December 2022, LinkedIn and CensusWide asked more than 2,000 U.S. workers about their professional plans for the coming year. It found that 72% of Gen Zers and 66% of millennials were considering changing careers. For Gen X and baby boomers the numbers were 55% and 30% respectively [1]. Meanwhile, a Microsoft survey from 2021 found that over 41% of workers were considering quitting or changing professions that year. [2]
That’s a lot of people pondering a fresh start. This article will delve into why they might want one –– and how they should go about getting it.
The why: Professional stagnation
A timeless reason for which one might want to start over is professional stagnation. Professional stagnation can affect individuals or even entire businesses. On a corporate level, stagnation tends to occur when a business fails to innovate or adapt to market changes, leading to declining profitability and market share. As an example, during the pandemic, we all bore witness to just how quickly a once stable company can fall behind if they fail to freshen things up. Many businesses were forced to make a tough choice: adapt or die.
For individuals, professional stagnation might manifest as a lack of career progression or job satisfaction. According to a report by Gallup, only 33% of employees in the US feel engaged at work [3]. The rest feel disconnected from their jobs and are looking for new opportunities. In Ireland, workers report higher-than-average job dissatisfaction rates compared to other European countries. A 2020 survey by the Economic and Social Research Institute (ESRI) found that 30% of Irish employees felt underutilised in their roles, leading to disengagement and stagnation [4]. The need to start over, either by switching jobs, upskilling, or transforming business practices, is often driven by the desire to break free from these unproductive cycles.
The why: Business failure
Another common reason for starting over is business failure. According to data from the Bureau of Labor Statistics, approximately 20% of small businesses fail within the first year. By the end of the second year, 30% will have failed. By the end of the fifth year, about half will have failed [5]. In Ireland, Limerick Chamber of Commerce president, Kieran MacSweeney, a former senior vice-president of US technology multinational Avocent, says that “80% of traditional start-ups fail because they don’t have the necessary blend of technical, entrepreneurial and management skills. Typically 40% of these businesses will even fail in the first year of operations; 80% of those that survive the first five years will fail in the second five.” [6]
In other words, failure is pretty common, and while it can be disheartening, failure also presents an opportunity to learn from mistakes and start over with a more informed perspective. The willingness to start anew, even after a setback, is a hallmark of resilience and entrepreneurial spirit. As Henry Ford said, “Failure is simply the opportunity to begin again, this time more intelligently” [7].Or, as the legendary Italian Stallion put it, “It ain’t about hard you can hit. It’s about how hard you can get hit and keep moving forward.”
The why: Personal fulfilment
For individuals, the decision to start over often stems from a lack of personal or professional fulfilment. The truth is a lot of people leave school or university unsure what they want to do with their lives. Oftentimes they get the first job they can because there are bills to be paid. Before they know it, they feel trapped on a career ladder they never wanted to climb and are either too prideful to take a lower rung on an adjacent ladder or too afraid to make a leap that might see them fall.
It can feel overwhelming changing careers. But it shouldn’t. According to the US Department of Labor, the average person will change careers 5-7 times during their working life. Approximately 30% of the total workforce will change jobs every 12 months. [8]
The great appeal of starting over, whether by changing careers or launching a new business, is that it provides us with an opportunity to finally align our work with our passions and values. Sometimes that means taking a pay cut to enter a new sphere and start from the bottom or even to return to studying. The hope, though, is that these sacrifices prove worth it in the name of waking up everyday with the knowledge that what awaits you is a job you love, not a desk that long ago started to feel like a prison.
Tomas Chamorro-Premuzic, a professor of business psychology at University College London and Columbia University, writes in Harvard Business Review that all job pivots boil down to our ‘professional identity’.
“Our identity is influenced not just by our past work experiences,” he says, “but also by our projected ones. When we feel that we are headed in a direction that is not congruent with our self-concept, such that our perceived “actual self” is out of sync with our “ideal self,” we are motivated to take action and change.” [9]
In recent years, it’s often the case that workers are looking to start again in industries or roles that emphasise social good, sustainability, and personal well-being. People want to feel like they are contributing to a better tomorrow, or at least not towards worsening today.
The why: Tech take-over
Herminia Ibarra of the London Business School divides the causes for professional change at the individual level into two key categories: situational drivers and personal drivers [10]. We’ve already spoken about the personal drivers, but situational drivers are just as prominent. One of the core situational drivers behind a professional pivot or fresh start in today’s world is job displacement brought about by technological advancements, especially AI.
According to one report from Goldman Sachs, AI could potentially replace the equivalent of 300 million jobs globally [11]. Around 30% of Irish employment is in occupations that are negatively exposed to the impact of artificial intelligence, according to a number of new reports from the Department of Finance and Department of Enterprise, Trade and Employment [12].
We’re already seeing a greater number of tasks fall under AI’s remit. And while there are very few jobs that are entirely safe from undergoing a technological takeover, there are some that are more safe than others. As such, in recent years a number of people have decided to pivot their career to an industry a little further away from AI’s clutches.
The how: Learning from past mistakes
For those who are shifting careers in the wake of some professional or personal failure, an integral part of starting over is the ability to learn from whatever past mistakes brought you here in the first place. How we react to failure says a lot about who we are –– and it can be the thing that sets us apart. Rather than viewing failure as a dead-end, successful entrepreneurs are often the ones that see it as a learning experience. This mindset is crucial for personal and professional growth. As Steve Jobs put it: “I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.” [13]
A report by Enterprise Ireland found that only 10% of failed Irish entrepreneurs attempt to launch a second business. Yet globally, nearly 60% of CEOs who have founded a startup valued at $1B+ have past founder experience [14]. It’s vital to not give up after the first setback. Very few successful people were that way from the start. Failure is a necessary step to success. To succeed without having first gone through failure and learnt from it, emerging with the scars, is only likely to set one up for a greater failure down the line when the stakes are higher. It’s best to get our failures out the way when the stakes are as low as possible.
The how: Assessing the situation
Before taking the first steps in any new direction, ask yourself some questions. Why is it you want to change careers? Is it that you’ve been forced out of your old one and just want money or that you want to pursue your passion? Do you have connections already in that world that you could reach out to? Will you need to study –– a full degree or a diploma? What transferable skills do you have? Why do you want to pursue this new venture?
Allowing yourself a period of self-assessment is vital to ensure you head in the right direction moving forward. If you don’t trust your own judgement to be objective, reach out to others. That could be through skills audits or consultations with career coaches or by reaching out to former bosses and colleagues for feedback. Is there someone in the field you’re joining that inspires you whom you could reach out to for help? Why not capitalise on their knowledge, or even lean on them as a mentor figure –– 97% of individuals with a mentor say they find the experience to be a valuable one [15].
There’s no point jumping into your new career in a kamikaze fashion. Take the time to make sure that you know why you’re doing what you’re doing and where it is you want to go.
The how: Setting clear goals
After you’ve assessed your circumstances, it’s time to set clear, achievable goals. For businesses, this could mean expanding into new markets, adopting new technologies, or focusing on customer satisfaction. In Ireland, many businesses have turned to digital transformation to adapt to the post-pandemic economy. According to a survey published in the Irish Times, 98% of business leaders said technology played a key role in navigating the pandemic, while 68% said they had shortened the target window for digital transformation. [16]
On a personal level, setting goals for career development or personal fulfilment is just as important. Make your goals SMART and build habits. Remember, it’s about getting 1% every day, not biting off more than you can chew.
The how: Monitoring progress and adjusting
Once you’ve got your plan in place, it’s time to take action. But the hard work doesn’t stop there. Starting over is not a linear process –– it requires regular monitoring and adaptability to make adjustments as you go along. Track your performance, review your goals, and consistently evaluate your progress. Getting on the right path is hard. Staying on it is harder still.
How to start over
Starting over is a difficult but achievable task. Whatever your motive for starting afresh, be it professional stagnation, business failure, or personal dissatisfaction, the decision to start over requires careful consideration if you are to eventually find yourself in a better, more fulfilling place. By undertaking a process of self-reflection, setting clear goals, building a support system, and regularly monitoring your progress so as to keep yourself from straying from the path, we can start over and emerge stronger and more successful on the other side.
Sources
[4] https://www.esri.ie/pubs/BKMNEXT412.pdf
[5] https://www.entrepreneur.com/starting-a-business/the-true-failure-rate-of-small-businesses/361350
[6] https://www.irishexaminer.com/business/arid-20134409.html
[7] https://www.brainyquote.com/quotes/henry_ford_121339
[9] https://hbr.org/2023/08/what-to-ask-yourself-before-a-career-pivot
[10] https://flora.insead.edu/fichiersti_wp/inseadwp2004/2004-97.pdf
[11] https://www.forbes.com/sites/kathycaprino/2023/10/21/how-to-make-a-successful-career-change-at-40/
[15] https://nationalmentoringday.org/facts-and-statistics/
More on Failure
Bouncing Back from Professional Failure
Beyond the Spotlight: Unravelling the Hidden Truths of Survivorship Bias
Introduction
The stereotype of the young, hoodie-clad, college dropout founder disrupting industries has long been a staple of the startup narrative. If you’ve seen The Social Network, you know the mould. But recent research published in Harvard Business Review would suggest that a seismic shift is underway. The average age of successful startup founders is steadily climbing, with a growing number of entrepreneurs in their forties and fifties proving that age is no barrier to innovation and success; quite the opposite, in fact, it’s these older founders who are thriving.
The myth of the young entrepreneur
For decades, the tech industry has been dominated by the image of youthful, energetic founders. High-profile success stories like Mark Zuckerberg and Evan Spiegel have perpetuated this stereotype. They found startling success young, grew huge profiles, and all of a sudden grey hairs were seen as a barrier to becoming a major player. Indeed, analysis of all founders who have won TechCrunch –– the annual conference hosted in San Francisco, New York, Berlin and London where new technology startups compete in front of venture capital investors and media –– found that the average age of the CEO at the time of founding the company was just 31. [1]
To further prove that youth was indeed the hottest ticket in town, research also shows that the founders of the fastest-growing startups in 2015 according to Inc. magazine had an average age of 29 at the time of founding [2]. Paul Graham, a cofounder of Y Combinator, once quipped that “the cutoff in investors’ heads is 32… After 32, they start to be a little sceptical.” [3]
For a while, then, it seemed that as well as obviously needing a good product and plugging a gap in the market, the most important Silicon Valley success factor was youth. Outside of Silicon Valley, it was a treasured commodity as well. But it shouldn’t be. At least, not anymore.
Older, wiser
Research by Pierre Azoulay, Benjamin F. Jones, J. Daniel Kim, and Javier Miranda, published in Harvard Business Review, shows that the average age of entrepreneurs at the time they founded their companies is 42. They arrived at that number by leveraging confidential administrative data sets from the US Census Bureau.
The sceptical amongst you may look at that number and spot a missing point –– that sure, the average age of founders may be 42, but that’s because most founders are starting small, independent businesses; it is not the same as a Zuckerberg; to be successful, youth is still the defining factor. Let’s address that idea.
The researchers were well aware that such a complaint could be lobbied against them, admitting that “the vast majority of these new businesses are likely small businesses with no intentions to grow large (for example, dry cleaners and restaurants).” As such, they honed their research to “focus on businesses that are closer in spirit to the prototypical high-tech startup” [4].To be considered for analysis, a company needed to have been granted a patent, received VC investment, or operated in an industry that employs a high fraction of STEM workers. They also factored in location, particularly whether the business was in an entrepreneurial hub such as Silicon Valley. The findings? Again, the average high-tech founder was found to be in their early forties.
Okay, so the age of high-tech startup founders matches the broader trend. But simply starting a tech company does not guarantee one success, far from it. These people could have been terrible founders who crashed and burned, proving that youth was still the answer, not middle-age. So the researchers refined their analysis again, this time examining the top 0.1% of startups based on employment growth in their first five years. This time, the average age of founders at the time they started their company was…forty-five.
Before anyone pushes back that employment growth is not the best way to measure success, the researchers add the following: “The age finding is similar using firms with the fastest sales growth instead, and founder age is similarly high for those startups that successfully exit through an IPO or acquisition. In other words, when you look at most successful firms, the average founder age goes up, not down. Overall, the empirical evidence shows that successful entrepreneurs tend to be middle-aged, not young.” [5]
The researchers go on to add that there is a slight misconception and over glorification of the young outliers of this trend such as Bill Gates, Steve Jobs, and Jeff Bezos. These iconic founders may have started their businesses while still supremely young, but, as the researchers point out, their success as CEOs did not come until much later in their lives.
“The growth rates of their businesses in terms of market capitalization peaked when these founders were middle-aged,” the researchers write. “Steve Jobs and Apple introduced the company’s most profitable innovation, the iPhone, when Jobs was 52. Jeff Bezos and Amazon have moved far beyond selling books online, and Amazon’s future market cap growth rate was highest when Bezos was 45.” [6]
So, since it is middle-aged founders thriving today, and since even the young founders tend to find their footing once they reach middle-age, what is it about this time of life that breeds success?
The experience factor
Let’s start with the obvious. Older entrepreneurs bring a wealth of experience to the table. They have often worked in established companies, gaining invaluable insights into business operations, management, and problem-solving. This knowledge equips them with a deeper understanding of market dynamics, customer needs, and the challenges of scaling a business.
Moreover, older entrepreneurs tend to possess stronger financial resources, allowing them to invest more capital into their startups. They are also less reliant on external funding, reducing the pressure to achieve rapid growth and enabling them to focus on building a sustainable business. There is an interesting question there that would require further research to answer: do middle-age founders thrive because their existing capital gives them freedom to pursue their ideas without being over concerned as to external stakeholders, in the same way that young upstarts like Zuckerberg enjoyed such success because they had the freedom of youth on their side –– they were beholden to their own ideas and no one else’s, at least at the start? In other words, is it creative freedom, born from either youth or capital, that is the true core to success?
Obviously another pivotal factor is the age-old truism: it’s about who you know, not what you know. Entrepreneurs with established careers often possess deep industry knowledge and extensive professional networks. This expertise can be invaluable in identifying market opportunities, securing partnerships, and building customer relationships. Their existing networks can also provide access to valuable resources, such as mentors, investors, and potential customers. Unlike their younger counterparts, older founders have the right numbers to dial.
It’s also possible that technological innovation and shifting societal attitudes have opened doors to older founders. It’s less common for workers to stay in a job for life anymore. Rather, when they feel they have the requisite industry knowledge, they think there’s no reason not to go out on their own. They are backed up by an endless supply of knowledge as to how to go about it thanks to online information. For many, they will also want more flexibility in the work life and see starting their own business as a good way to achieve it.
Challenges
Up until now we’ve made becoming a successful middle-aged founder sound like a breeze –– they experience all the success, have all the right contacts and financial freedom –– but of course there are a number of challenges that come with starting a company in your forties and fifties. One of the primary hurdles is the perception of being “too old” for the fast-paced startup world. This can impact access to funding, talent acquisition, and overall credibility.
As Azoulay, Jones, Kim, and Miranda write in their research, many VCs still prefer to bet on younger founders in spite of the proof that middle-aged ones are currently more likely to find success. They suggest two reasons for that, which are worth laying out in full.
“First, many VCs may operate under a mistaken belief that youth is the elixir of successful entrepreneurship — in other words, VCs are simply wrong. Though it is tempting to see age bias as the leading explanation for the divergence between our findings and investor behaviour, there is a more benign possibility: VCs are not simply looking to identify the firms with the highest growth potential. Rather, they may seek investments that will yield the highest returns, and it is possible that young founders are more financially constrained than more experienced ones, leading them to cede upside to investors at a lower price. In other words, younger entrepreneurs may be a better “deal” for investors than more experienced founders.” [7]
Going forwards
The trend towards older entrepreneurship is likely to continue as the population ages and the startup ecosystem matures. As technology becomes more accessible and the barriers to entry for starting a business decline, we can expect to see even more individuals from diverse age groups pursuing entrepreneurial ventures. Think about the potential Gen Z and Alpha have to be successful entrepreneurs in the future having grown up with computers and the internet, all fully fluent in the digital language from the off. The shift in demographics going forward will bring new perspectives, experiences, and approaches to problem-solving, which should enrich the startup landscape and drive innovation.
The grown-ups are talking
The conventional wisdom that young, tech-savvy individuals are the sole architects of startup success is increasingly outdated. A compelling body of evidence suggests that the entrepreneurial landscape is maturing, with middle-aged founders emerging as a formidable force. Possessing a wealth of experience, established networks, and often a more calculated approach to risk, these entrepreneurs are redefining the entrepreneurial archetype.
While challenges such as bridging the digital divide and overcoming age-related stereotypes exist, the potential rewards for both individuals and the broader economy are substantial. By leveraging their unique strengths and adapting to the evolving business environment, middle-aged entrepreneurs can significantly contribute to innovation and job creation. In fact, as the data shows, they already are.
On Ageism
Sources
Introduction
Prices are high. Inflation is high. Interest rates are high. Getting by on the traditional 9-5 is not as simple as it should be. As such, increasingly workers are turning to a side hustle to make ends meet. For many, balancing a full-time job while pursuing a side hustle is not just a means of boosting income but also a way to fulfill entrepreneurial aspirations, hone new skills, and achieve personal growth. However, managing both can be a challenging endeavour, demanding careful planning, time management, and strategic decision-making.
By the numbers
In June of this year, more than half (54%) of Americans said they’d adopted a side hustle to supplement their primary source of income in the last 12 months [1]. In the UK, 43% of Brits have a side venture [2]. Gen Zers are most likely to have a side gig (71%), but millennials are close behind (68%). [3]
Do you need a side hustle?
The motivations for taking on a side hustle are diverse. Maybe it’s necessary to make rent, with the cost of living crisis making just getting by a difficulty for many; additional income can provide financial security, help pay off debts, or fund personal goals such as travel, education, or home ownership. Side hustles also offer opportunities to learn new skills or enhance existing ones, which can be beneficial for career advancement. Many people have hobbies or interests they wish to pursue professionally, passion projects which might not be feasible through their full-time job. Additionally, a side hustle can serve as a testing ground for business ideas, potentially leading to full-time entrepreneurship.
Before committing to the delicate balancing act of juggling two jobs, you need to assess your capacity to do so. Consider the intensity of your full-time job, your personal commitments, and your energy levels. You need to be realistic about the time and energy you can dedicate to a side hustle without compromising your well-being. If you’re already swamped at your full-time job then taking on an additional workload is a bad idea –– you’ll burn out quickly and end up more likely to lose your original job than to earn any additional income.
Equally important is choosing the right side hustle. It should align with your skills, interests, and available time. For those pursuing a passion project, this is of course already baked in, equally so for anyone looking to set up a personal business on the side. But for those less sure where to start, who are simply looking for a little bit of extra cash flow, consider whether you can leverage existing skills or explore new areas of interest. Evaluate the time commitment required and select a side hustle that fits your schedule. Most importantly, choose something you enjoy to maintain motivation and prevent burnout.
As Forbes Council Member John M. O’Connor writes of his own journey, “The times I tripled up [my workload] to “make more money” but did it just for the money, it created a universal imbalance and injured relationships and the effectiveness of my other work” [4]. Learn from his mistakes.
Managing your time
A lot of balancing a full-time job and a side hustle comes down to time management. Writing in Forbes, Caroline Ceniza-Levine, founder of the Dream Career Club and author of Jump Ship: 10 Steps To Starting A New Career, recommends setting up “a clear timeline for how long you plan to juggle the two and decide what success markers you want to see along the way to ensure you are on the right track.” [5]
Freelance writer and stand-up comedian Virginia Hogan implores workers pursuing a passion project to “[set] aside specific hours for it. Not a specific amount of time — specific hours. Block out on your calendar when you’re going to write that short story or build that desk. It might only be once a week, but make sure it’s planned.” [6]
Essentially, the important thing is to be organised. Do not allow your side hustle to linger over you as one further task to undertake, like changing the bedsheets or going to the gym. Because let’s face it, we all know how easy it is on a lazy day to put those activities off; all of a sudden the routine is on the backburner and difficult to re-ignite.
Just as it’s important to know yourself in order to get an idea of what kind of side hustle you should be engaged in –– where your skills lie, what skills you want to learn –– it’s also important to know yourself so as to better schedule your two income streams. “Pay attention to when you do your best work,” recommends Ceniza-Levine. “If you know that you are just too unfocused after a full day of work, then you have to get up early for your side business. Or you have to clear your weekends for it.” [7]
What is your worth?
Let’s say you’re just getting started on your side hustle journey, and that you’ve chosen a career path that allows you to dictate rates, as opposed to picking up a second salaried job. How do you know what to charge?
Bernadette Joy, a leadership coach specialising in financial freedom, having paid off $300,000 of debt in three years and invested enough to retire by 40, recommends matching your revenue goal to your housing (or any other specific financial target you want to reach). When she first started her side hustle, she wanted to earn enough to pay off her monthly mortgage. That was it. To do that, she needed to make $2000 a month (on top of her salary, which she would use for all other spending and saving).
She realised that, “To reach $2,000, I could choose from selling to (a) 100 customers at $20;
(b) 20 customers at $100; or (c) Two customers at $1,000.”
“I ultimately chose the middle option,” she says, “rationalising on average I needed one customer every weekday, and I could still take the weekends off. I earmarked every sale toward my mortgage and that made each sale feel more rewarding.” [8]
The advice is simple. Pick a financial goal. Work out how much you’ll have to charge and how many clients you’ll need to make that goal. Put all the money you earn towards that goal.
After that, your savings will take care of themselves.
Getting the balance right
Now, let’s say you’ve set up your side hustle –– you’ve set your goals and have set aside the appropriate amount of time each week or month to meet them. How do you ensure all this new work doesn’t interfere with your day-to-day job? First, you “need to decide your objectives for your current job,” according to Ceniza-Levine.
“Do you want to just get by, or are you going for a promotion? Is there restructuring or other changes afoot where you have to pay closer attention? The job/ side business juggle isn’t only for people who hate their job. Maybe you like your job enough but want an extra and/or different stream of income. If you like your job, you need to be clear about your goals there as well, not just for the new business.” [9]
It could be that you care little for your 9-5 and are setting up this new venture as a way to, with luck, eventually pivot to your side hustle full time. If that’s the case, in theory you could phone it in at the office, just doing enough to scrape by, then dedicating the bulk of your energy to your preferred work. This is a nice idea, but can be flawed in practice.
If you work a 9-5, you’re at your day job eight hours a day. If all that time, you are doing the bare minimum, that is going to impact you. There exists such a thing as momentum. If you slouch around for eight hours a day, you run the risk of becoming a slouch –– and then where will your new venture be? Not to mention you run the risk of getting fired for lousy performance; all of a sudden your new scheme to make more money has left you stripped of your financial base.
You’re also likely to burn relationships. People around the office or clients will see you as someone not worth doing business with. They may remember that when you’re going it alone and reaching out to them for help later. It’s better to make yourself a good employee and carry that through to all aspects of your work, in-office and out. As James Clear, author of Atomic Habits, writes: “If you’re looking to make a change, then I say stop worrying about results and start worrying about your identity. Become the type of person who can achieve the things you want to achieve” [10]. Don’t be someone who works hard on just one thing; be a hard worker.
It could be that you do also have some boring, administrative work to do as part of your day to day job. And as noted earlier, you should know yourself well enough to know what time of day you tend to work best. Try and get this less engaging work done during times when you’re in a bit of a lull anyway, rather than wasting your best energy on them. As Virginia Hogan more bluntly puts it, “Use your least productive times to do boring work on your employer’s dime.” [11]
Hogan also recommends organising work based on how badly other people are depending on it. She calls this approach her “Avoid Receiving Angry Emails” plan. “This is loosely defined,” she writes, “but I mean whether or not there will be professional consequences for you if you don’t complete tasks in a timely manner.” [12]
You don’t want your day job and your side hustle to overlap. But if you find yourself in a position where you’re facing potential negative professional consequences in one endeavour without much to do in the other, there are exceptions to be made. But don’t normalise it. It will come back to bite you.
Hustling
Juggling a full-time job and a side hustle in today’s high-cost, high-inflation economy is, for many, not merely a trend but a necessity. But the challenge of balancing these dual roles requires strategic planning and diligent execution. Workers need to be realistic about their capacity and the demands of their full-time job. Without careful consideration, the risk of burnout and potential negative impacts on their primary employment increases. Effective time management is key. side hustles should be well-planned, with assigned hours every week and a clear, attainable fiscal target in mind. By entering into a side-venture with these things in mind, one can grow their income, develop their passions, and learn new skills for life.
More on Time Management
Oliver Burkeman Four Thousand Weeks: Time And How To Use It – Podcast
Manage Your Energy, Not Your Time
How to Focus and Become Indistractable with Nir Eyal – Podcast
Sources
[2] https://www.finder.com/uk/business-banking/side-hustle-statistics
[11] https://www.forbes.com/sites/ginnyhogan/2023/04/17/how-to-balance-your-full-time-job-with-your-side-hustle/ [12] https://www.forbes.com/sites/ginnyhogan/2023/04/17/how-to-balance-your-full-time-job-with-your-side-hustle/
Introduction
The traditional landscape of investment management, dominated by high minimums, opaque fees, and limited access, is undergoing a seismic shift. Fueled by the relentless march of technology, financial technology (Fintech) is revolutionising the way investment products are distributed, ushering in an era of democratisation. This article delves into the transformative role of Fintech in making investing more accessible, efficient, and personalised for a wider audience.
Tech, tech, boom
As Deloitte acknowledges in the company’s paper ‘How can Fintech facilitate fund distribution’, “Fintech is more than a buzz word. It is a game changer in the operating model of asset managers, distribution intermediaries, and service providers” [1]. McKinsey research shows that revenues in the fintech industry are expected to grow almost three times faster than those in the traditional banking sector between 2022 and 2028. [2]
Advancements in technology have always been part of the financial world, but the scale of transformation experienced in the 21st century is without precedent. “Digital innovation has brought major improvements in connectivity of systems, in computing power and cost, and in newly created and usable data,” say Feyen, Frost, Gambacorta, Natarajan and Saal in their Bank for International Settlements paper. “These improvements have alleviated transaction costs and given rise to new business models and new entrants.” [3]
Separate McKinsey research shows nearly half of all US consumers utilised fintech products in 2021 [4], while 84% of UK respondents to a 2022 Plaid survey reported using Fintech every day [5]. Meanwhile, venture capital funding raised by fintech firms escalated from $19.4 billion in 2015 to $33.3 billion by 2020 [6]. This is an industry on the up.
The rise of robo-advisors
Algorithmic investment management, popularly known as robo-advisors, has emerged as a game-changer in fund distribution. These automated platforms leverage sophisticated algorithms to create and manage personalised investment portfolios for clients. Through a series of questionnaires, robo-advisors assess an investor’s risk tolerance, financial goals, and investment time horizon. Based on this data, they construct a diversified portfolio of low-cost exchange-traded funds (ETFs) and rebalance it periodically to maintain alignment with the investor’s goals.
The number of users in the robo-advisors market is expected to reach 34.020 million by 2027 [7]. The appeal lies in their accessibility. Unlike traditional wealth managers who cater primarily to high-net-worth individuals, robo-advisors typically require no minimum investment amount. This opens the door for a new generation of investors, particularly millennials and Gen Z, who may have smaller investable assets but a strong desire to participate in the market. Additionally, robo-advisors offer significant cost advantages. Their automated nature eliminates the need for human advisors, translating to lower fees compared to traditional investment management services.
However, robo-advisors are not without limitations. Their reliance on algorithms limits their ability to offer complex investment strategies or cater to individuals with unique financial situations. Additionally, the lack of human interaction may not suit investors seeking personalised advice and emotional support during market volatility.
The power of online platforms
Online brokerage platforms are another significant force shaping the future of fund distribution. The online trading market was valued at $10.21 billion in 2022 [8] and is likely to reach $13.3 billion by 2026 [9]. These platforms provide investors with a user-friendly interface to research, buy, and sell various investment products, including stocks, bonds, ETFs, and mutual funds. They offer a plethora of educational resources, market analysis tools, and real-time data feeds, empowering investors to make informed investment decisions.
The rise of fractional shares, facilitated by online platforms, further democratises access to the market. Traditionally, investors needed to purchase whole shares of a company, which could be cost-prohibitive for high-priced stocks. Fractional shares allow investors to buy a portion of a share, enabling them to diversify their portfolios with even limited capital.
Furthermore, online platforms have ushered in the era of commission-free trading. This eliminates the traditional per-trade fees charged by brokers, significantly reducing investment costs and making frequent trading more accessible. However, concerns linger about the potential impact of commission-free trading on investor behaviour. The ease of execution may encourage impulsive trading practices, ultimately hindering long-term investment goals.
The mobile revolution
Smartphones have become ubiquitous, and Fintech is capitalising on this trend by offering mobile investment apps. These apps provide on-the-go access to investment accounts, allowing users to monitor their portfolios, place trades, and stay informed about market movements. The convenience and immediacy offered by mobile apps are particularly attractive to younger generations accustomed to a mobile-first experience. In 2021, more than 130 million people traded stocks using online trading apps. [10]
Mobile apps also have the potential to gamify investing, making it more engaging and accessible to a broader audience. Features such as virtual portfolios and educational quizzes can encourage financial literacy and make investing less intimidating for beginners. However, the gamification of investing poses potential risks. It could trivialise the inherent risks associated with the market and lead to impulsive investment decisions.
Challenges and opportunities in the democratisation of investing
While the democratisation of investing through Fintech presents a wealth of opportunities, it also introduces a set of challenges that must be addressed. One significant concern is the potential for increased market volatility. With a larger pool of retail investors participating in the market, driven by factors like social media trends and gamification, market fluctuations could become more pronounced. To mitigate this risk, financial education and investor awareness campaigns are essential.
Another challenge is the protection of investors. As the Fintech landscape expands rapidly, regulatory oversight must keep pace to prevent fraudulent activities, data breaches, and other risks. Ensuring transparency in fee structures, safeguarding investor data, and establishing clear regulatory guidelines are crucial for building trust in the industry.
Despite these challenges, the potential benefits of democratising investing are substantial. By broadening access to investment opportunities, Fintech can contribute to wealth creation, economic growth, and financial inclusion. It can also empower individuals to take control of their financial futures and achieve their long-term goals.
The role of financial advisors
While technology is reshaping the investment landscape, the role of human financial advisors is far from obsolete. In fact, their expertise is becoming even more valuable in navigating the complexities of the digital age. As investors gain access to a wider range of investment products and information, the need for personalised advice and guidance increases.
Financial advisors can help clients develop comprehensive financial plans, manage risk, and make informed decisions. They can also provide emotional support during market downturns and help clients stay focused on their long-term goals. The integration of technology into the advisory process can enhance efficiency and improve client service. For example, advisors can use digital tools to gather client data, analyse investment performance, and provide personalised recommendations.
The importance of financial education
To fully realise the benefits of democratised investing, financial education is paramount. Empowering individuals with the knowledge and skills to make informed investment decisions is essential for long-term financial success. Financial education programs should cover a wide range of topics, including investment basics, risk management, portfolio diversification, and retirement planning.
Schools, employers, and financial institutions have a role to play in promoting financial literacy. By incorporating financial education into school curricula, we can equip young people with the knowledge they need to make sound financial decisions throughout their lives. Employers can offer financial wellness programs to help employees achieve their financial goals. Financial institutions can provide free educational resources and tools to their customers.
The future of wealth management
The convergence of Fintech and traditional wealth management is giving rise to a new breed of hybrid models. These models combine the efficiency and scalability of technology with the personalised touch of human advisors. Robo-advisors, for instance, can handle routine tasks such as portfolio rebalancing and asset allocation, while human advisors can focus on providing high-touch services to clients with complex financial needs.
Moreover, the rise of open banking and data aggregation is transforming wealth management. By connecting to various financial accounts, advisors can gain a holistic view of clients’ financial lives, enabling them to offer more comprehensive and tailored advice. This data-driven approach can also help identify potential investment opportunities and risks.
Investment solutions will become increasingly hyper-personalised, entirely tailored to an individual’s needs and preferences. Artificial intelligence (AI) will play a critical role in analysing investor data and recommending suitable investment strategies. The market size of AI in fintech was estimated at $44.08 billion in 2024 and is forecast to exceed $50 billion in 2029. [11]
Impact investing is likely to become increasingly commonplace.Investors, particularly millennials and Gen Z, are increasingly interested in aligning their investments with their values. Fintech platforms will cater to this demand by offering a wider range of sustainable and impact-focused investment products.
As the Fintech landscape continues to evolve, regulators will need to strike a balance between fostering innovation and protecting investors. Regulatory frameworks will likely focus on ensuring transparency in fees, mitigating cybersecurity risks, and promoting responsible investment practices.
Fintech and the democratisation of investment solutions
Fintech is not just disrupting the financial services industry, it is democratising access to investment opportunities. By lowering barriers to entry, providing educational resources, and offering innovative digital tools, Fintech is empowering a new generation of investors to take control of their financial futures. This democratisation of investing has the potential to unlock significant economic growth by bringing a larger pool of capital into the market. However, it is crucial to ensure that this growth is accompanied by responsible investment practices and robust financial literacy initiatives.
As technology continues to advance, it is essential to prioritise financial education and investor protection. By equipping individuals with the knowledge and tools they need to make informed investment decisions, we can build a more financially literate and resilient society. By fostering a collaborative environment between Fintech innovators, regulators, and traditional financial institutions, the future of fund distribution can be one that promotes financial inclusion, empowers individuals, and fosters a more stable and sustainable financial system.
More on Financial Education
Financial Education: What do Employers Owe their Employees?
Top Insights to Build and Sustain a Global Brand with Sharon Lechter – Podcast
Sources
[3] https://www.bis.org/publ/bppdf/bispap117.pdf
[8] https://invezz.com/research/online-trading-statistics/
[9] https://invezz.com/research/online-trading-statistics/
[10] https://invezz.com/research/online-trading-statistics/
Introduction
This article delves into the psychology of likeability, reviewing strategies to enhance engagement and foster better relationships. Drawing upon the latest research in social psychology, it explores how subconscious factors influence perceptions, the nuances of engaging in small talk, and the essence of a captivating presence. Discover how likeability can transform your personal and professional life.
The Psychology of Likeability
Understanding the essence of likeability can significantly alter our interactions both personally and professionally. Psychology unveils subconscious triggers that influence our perception of others. By grasping these mechanisms, we can refine our approachability and establish stronger bonds.
Subconscious Triggers
Our brains evaluate individuals based on subtle cues, such as body language and tone of voice. Maintaining eye contact, mirroring body movements, and displaying a warm, genuine smile are traits that foster trust and comfort. These actions shape our perceptions and increase likeability.
Mastering Small Talk
Engaging in seamless small talk is crucial for building rapport. Effective small talk hinges on active listening, asking open-ended questions, finding common ground, and using positive body language. These strategies foster trust and create meaningful connections.
The Power of Storytelling
Storytelling, a timeless art, has the remarkable ability to engage and persuade. By crafting compelling narratives, you can engage with your audience’s emotions, fostering a profound connection. Improve your storytelling by drawing from personal anecdotes, incorporating vivid imagery, and featuring relatable characters. This approach can transform a straightforward message into an indelible experience.
The capacity to develop and refine charisma and magnetic presence is a skill that evolves with practice. By integrating the subtleties of body language with the art of storytelling, you can unveil a level of charm and influence that will resonate with those around you.
“Charisma is not in the words you say, but in the way you say them.”
Unknown
| Charismatic Presence Techniques | Benefits |
| Mastering Body Language | Boosts likeability, trustworthiness, and approachability |
| Crafting Captivating Stories | Connects with the audience on an emotional level |
| Projecting Confidence and Composure | Inspires others to follow your lead |
Likeability in the Professional Realm
In the competitive arena of career advancement, the quality of professional likeability emerges as a crucial asset. It significantly enhances your ability to forge robust workplace relationships and cultivates a favourable professional image. This, in turn, paves the way for new opportunities and hastens your career progression. By refining your professional likeability, you can effortlessly manoeuvre through the corporate environment, thereby achieving your professional objectives with enhanced confidence.
Initiating the cultivation of professional likeability necessitates an understanding of its underlying psychological dynamics. It is the warmth, authenticity, and a sincere interest in others that naturally attract people. By sharpening your listening skills, maintaining a positive outlook, and offering sincere compliments, you can establish a compelling presence among your colleagues and superiors.
Another pivotal element of professional likeability is the mastery of small talk. Engaging in effortless, meaningful dialogue across diverse topics facilitates rapport building and leaves a memorable impact. Staying abreast of current events, industry trends, and shared interests equips you with conversation starters, enabling you to forge deeper connections with your peers.
Furthermore, cultivating charisma and a magnetic presence is vital for professional likeability. Attention to your non-verbal cues, the art of storytelling, and exuding confidence can create an aura of likeability that distinguishes you from others.
“Likeability is not a personality trait, but a skill that can be learned and honed over time. The more you invest in developing professional likeability, the greater the dividends you’ll reap in your career.”
Embracing the essence of professional likeability empowers you to navigate the workplace with heightened confidence, establish profound connections, and position yourself for sustained career success. Remember, the capacity to forge genuine connections is a skill of immense value, propelling you towards the pinnacle of your professional ambitions.
When Likeability in Leadership Backfires
While likeability is often seen as a key trait for effective leadership, it is unwise to select leaders solely on this basis, especially if it means neglecting other crucial predictors of leadership effectiveness, such as expertise, intelligence, and integrity. Here are three reasons why likeability in leadership can backfire:
- Likability May Mask Dark Side Traits: Perceptions of likeability can sometimes hide toxic traits. Individuals with narcissistic or psychopathic tendencies can appear charming and socially skilled, which might lead to their being mistakenly perceived as likeable.
- Mindless Conformity: Likeable leaders might encourage conformity rather than innovation. True leadership often requires challenging the status quo, which may not always align with being likeable.
- Results Over Popularity: Leaders overly focused on being liked may avoid making tough decisions. Effective leadership requires balancing likeability with the ability to make difficult choices and drive results.
Conclusion
Likeability is a powerful force that can transform personal and professional interactions. By understanding and leveraging the psychology of likeability, mastering small talk, and developing a charismatic presence, individuals can significantly enhance their influence and success.
Embracing likeability involves consistent practice and application in daily interactions. It is a skill that can be developed and refined over time, leading to more fulfilling relationships and greater professional achievements.
FAQ
What are the subconscious triggers that make people like me? Subconscious triggers include mirroring body language, maintaining eye contact, and expressing warmth through facial expressions and tone of voice. These actions significantly shape how others perceive you.
How can I improve my small talk skills? Key strategies include active listening, posing open-ended questions, sharing pertinent personal stories, and maintaining a positive, engaged attitude during conversations.
What are the secrets to projecting a charismatic presence? Projecting a charismatic presence involves mastering both verbal and non-verbal communication, such as confident posture, expressive hand gestures, and engaging storytelling.
How can I leverage likeability to enhance my professional success? Enhancing professional likeability involves active listening, offering sincere praise, fostering a positive work environment, and engaging in meaningful small talk.
What are the key benefits of developing greater likeability? Benefits include cultivating deeper relationships, expanding social and professional opportunities, and increasing influence and impact on those around you.
By mastering the art of likeability, individuals can unlock their full potential, becoming more respected, admired, and successful in their personal and professional lives.
More on Charisma
Introverts, extroverts and leadership with Karl Moore – Podcast
Dealing with Imposter Syndrome
Introduction
In 2005, David Foster Wallace, the celebrated author renowned for his lofty, intellectual style and profound, often humorously contempful explorations of the human experience (not to mention his trademark bandana), delivered a now-iconic commencement speech to the graduating class at Kenyon College. His speech was titled “This is Water” [1]. That title, seemingly banal, delivers a profound, even life-changing message (if the YouTube comments are to be believed, at least).
Wallace urges graduates to cultivate a deliberate awareness of the seemingly obvious, the everyday realities that often slip by unnoticed. He does so through a short and simple anecdote.
There are these two young fish…
Foster Wallace tells the story of two young fish swimming merrily along. On their journey, they encounter an older fish swimming in the opposite direction. The older fish nods and says, “Morning, boys. How’s the water?” The two young fish swim on for a bit before one turns to the other and asks, “What the hell is water?”
“The point of the fish story,” Foster Wallace explains, “is merely that the most obvious, important realities are often the ones that are hardest to see and talk about. Stated as an English sentence, of course, this is just a banal platitude, but the fact is that in the day to day trenches of adult existence, banal platitudes can have a life or death importance, or so I wish to suggest to you on this dry and lovely morning.” [2]
Modern water
The anecdote of the fish in water poignantly illustrates our tendency to take the fundamental aspects of our existence for granted. We live immersed in the water of our daily routines, oblivious to its very existence until someone points it out. The “water” in our lives could be anything –– the ability to have a meaningful conversation, the beauty of a sunrise, the simple act of breathing, all these cosmically miraculous aspects of the human experience that we steadfastly fail to recognise.
Foster Wallace goes into great detail in the speech laying out just how difficult it is to spot the water around us. And that was in 2005. In the subsequent years, the water, if at all possible, has grown more transparent and undetectable still. We live amongst an attention-sapping multimedia environment explicitly designed to absorb us. Smartphones and social media make it not just impossible to notice our settings but to acknowledge that we’re swimming at all. Our attention, the aspect of ourselves Foster Wallace goes to great lengths to say we should prize, protect and treasure, is a currency traded amongst Silicon Valley power brokers. Our attention is bought and sold behind our backs, often for all too cheap. And that is just one of the battles currently facing us.
We are also battling the cult of false positivity, staring blankly at a curated reality social media drip feeds us, feasting on slideshows and highlight reels of other lives we deem better than our own. We are repeatedly thrust into the twin states of feeling inadequate while simultaneously burning with a need to curate our own false reality online too. We must play along with the great lie or else allow our lives to appear lesser, mundane, forgettable. Pretty soon everything is distorted.
We are battling the fear of missing out, confronted with an endless need to stay connected, to check back in online for fear that we will be alienated and out of step with those around us if we fail to. It’s hard to be fully present in the moment when all the while you’re in it, you wish you were in another one.
We are battling our brains, most specifically the default mode network. This is our brain’s natural mode of operation that kicks in when we’re not actively engaged in a task. This mode often leads to ruminating on the past or worrying about the future, further pulling us away from the present moment.
In the context of such a society, Foster Wallace’s message about cherishing the ordinary becomes even more relevant. These factors combined create a constant undercurrent of distraction, making cultivating sustained awareness feel nigh on impossible. But it is doable. It just requires effort.
The benefits of making that effort are numerous.
The benefits of awareness
A recent study published in the journal JAMA Internal Medicine found that those who completed a mindfulness awareness program experienced less insomnia, fatigue, and depression after six weeks than those who received sleep education [3]. A study that was presented at the American Heart Association Scientific Sessions 2022 reported that after participating in an eight-week mindfulness behaviour program, adults who had elevated blood pressure at the beginning of the program had significantly lower blood pressure and reduced sedentary time at their six-month follow-up. [4]
In the UK, it is estimated that as many as 30% of GPs refer patients to mindfulness training [5]. That’s because the benefits are well-documented and because in theory it’s simple (though as anyone who has tried focusing on the breath will tell you, it’s difficult to believe how quickly the mind drifts away).
By becoming more aware of our own thoughts and feelings, we can develop a deeper understanding of those around us. When we pay attention to the everyday details, we can cultivate a genuine appreciation for the beauty and wonder of the world. Being present allows us to make more conscious choices, rather than acting on autopilot, and can reduce the amount of time we waste ruminating on the past and worrying about the future.
As Foster Wallace puts it, “Learning how to think really means learning how to exercise some control over how and what you think. It means being conscious and aware enough to choose what you pay attention to and to choose how you construct meaning from experience” [6]. The simple act of acknowledging the “water” of our lives can lead to a more meaningful and fulfilling existence.
Cultivating Awareness
Being aware of one’s surroundings does not just happen. It is a conscious act, and a challenging one. As Foster Wallace puts it, “People who can adjust their natural default setting this way are often described as being “well-adjusted”, which I suggest to you is not an accidental term” [7]. So how does one become well-adjusted? How does one find a way to spot the water around them in a world designed to distract us?
As previously noted, one option is mindfulness. The availability of mindfulness apps makes it easy to get started. Incorporating just ten minutes a day into your daily routine can change your perspective in monumental ways.
Another option is gratitude exercises. Taking time each day to reflect on things you’re grateful for can shift your focus to the positive aspects of your life. It’s a useful countermeasure against negative thinking.
If your distraction is not just internal but external –– ie you are overly occupied by your phone and digital spaces –– it could be worth attempting a digital break. You don’t have to go cold turkey. You could start small by saying “I’m not going to use my phone for half an hour before bed.” Then extend that period out or add further half-hour breaks to your day, during lunch or after work for example. A useful tip is to put your phone in another room during any detox to remove the temptation. Out of sight really is out of mind.
Try focusing on your senses. This is a step that will be recommended to you in mindfulness practices but you can do any place, any time, by yourself. Simply make the choice to notice what surrounds you –– sights, sounds, smells, tastes, and textures. This simple act can anchor you in the present moment.
Make a conscious effort to engage in activities that require focus. Activities like reading, spending time in nature, or creating art can demand your full attention, fostering a state of mindfulness or even flow state. It’s time better spent than scrolling.
Observe your thoughts rather than judging them. This too is a pillar of mindfulness practice but something you can do alone. Every thought you’ve ever had has passed away, the one you’re currently lost in will too. Try to notice your thoughts as a passive bystander rather than lending them overdue creed, and do the same with people too. When interacting with others, try to observe them without judgement. It can lead to deeper connections and a better understanding of the people around you.
That’s a lot of examples but, as noted, most of them can be practised even for just a few moments throughout the day –– it’s just about breaking the spell of thought and noticing what’s around you. Still, it’s recommended you start small. Don’t try to overhaul your life overnight. Begin with easy, manageable changes, like taking a few mindful breaths throughout the day.
None of these strategies are a one-time fix, rather a lifelong practice. By incorporating any or all of them into your daily routine, you can cultivate a greater sense of awareness and begin to truly appreciate the “water” of your existence. At the risk of sounding guru-adjacent, it can help set you free from the prison of your mind. As Foster Wallace says, “The really important kind of freedom involves attention and awareness and discipline, and being able truly to care about other people and to sacrifice for them over and over in myriad petty, unsexy ways every day.” [8]
This is water
David Foster Wallace’s “This is Water” speech serves as a powerful reminder to appreciate the seemingly mundane aspects of life. In a world overflowing with distractions, cultivating awareness requires conscious effort. It is difficult. But the rewards are substantial.
By adopting the practices outlined above, we can embark on a lifelong journey of self-discovery, increased appreciation, and a deeper connection with ourselves and the world around us. The “water” of our lives is always there, waiting to be acknowledged. It’s up to us to become the “older fish” who can see it, savour it, and appreciate the profound beauty in the ordinary.
More on Mindfulness
Stress Management and Leadership Through Mindfulness
Breathing, Cold Exposure, and Mindfulness with Níall Ó Murchú
Mindfulness, Meditation and Compassion in the Workplace and in Life with Scott Shute – Podcast
Sources
[1] https://www.youtube.com/watch?v=DCbGM4mqEVw
[2] https://fs.blog/david-foster-wallace-this-is-water/
[6] https://fs.blog/david-foster-wallace-this-is-water/
[7] https://fs.blog/david-foster-wallace-this-is-water/
[8] https://fs.blog/david-foster-wallace-this-is-water/
Introduction
A new boss taking over can be difficult. Change often is. For employees, the promise of fresh perspectives and strategic shifts can be exciting. But the uncertainty surrounding changing dynamics and expectations can also be unsettling, for seasoned staff and recent hires alike. For those who liked their old boss, the new one is a daunting prospect. And even those that didn’t face an element of “the devil you know.” At such a juncture, all employees will be sat around the office contemplating what a change of leadership means for their futures.
Successfully navigating a leadership transition requires a proactive approach to ensure continued productivity and career satisfaction. How do you build a relationship with a new leader? How do you help ensure a smooth transition? In the worst case scenario, how do you spot a leader who isn’t going to serve you and what can you do to counter that?
Understanding the new leader
It’s natural for employees to want to know as much as possible about their new leader as quickly as possible. This is the person whose expectations they will now need to be meeting; they’ll want to know what those expectations are. Equally, given there is such a wide variety of leadership styles, they may wish to adjust their temperament or approach accordingly.
In the modern world, employees can often get a decent sense of their new boss’s approach and values in advance of their arrival through their online presence. Most people have a LinkedIn profile through which their new employees can evaluate their posts to get a sense of their leadership style, past successes and communication preferences. Even just a look at their employment history can provide a sense of their trajectory and offer hints as to their approach.
Equally, employees may be able to track down their boss’s personal social media accounts by way of Instagram, X (Twitter) or Facebook. Wise leaders will make these accounts as difficult to track down as possible. And wise employees may not want to risk exposing themselves as having perused their new boss’s personal account in advance of their arrival.
Following the new leader’s commencement comes the bedding in period, which depending on the leader and company in question can be a matter of weeks or months (one would hope not years). This period can be awkward and overly formal, with employees tip-toeing around the new boss and vice versa, everyone trying to figure the other out, fearful of earning themselves a spot in the bad books. Conversely, they can be overly contested, with a new leader looking to establish a foothold through shows of strength, maybe even ruthlessness. Meanwhile their more fiery underlings will either push back directly or raise dissent amongst their cohorts at every opportunity.
Neither of these approaches is ideal, though the first is obviously preferable. It’s only natural that things begin tentatively. Employees should try to make use of that early period to establish an amiable rapport with their new boss and to work out what kind of leader they are. Gather information, observe closely, and ask questions during initial meetings and interactions. How do they communicate? Are they direct and concise or more collaborative and open-ended? Do they favour quick decisions or encourage team input? Actively listen to their vision for the company and their priorities. Don’t hesitate to schedule a one-on-one meeting to clarify expectations or gain a better understanding of their vision for the department or company as a whole.
Building a positive working relationship
To state the obvious, you want to impress your new boss. And you want to do so at the earliest opportunity you can.
“Recognize that people do draw some impressions about you pretty quickly,” says Karen Dillon, coauthor of Competing Against Luck and the HBR Guide to Office Politics [1]. But how do you make sure those first impressions are positive?
Michael Watkins, chair of Genesis Advisors and author of The First 90 Days, advises you put yourself in your new boss’s shoes. “Keep asking yourself, ‘How can I help them get up to speed faster?’” [2]
Writing in Harvard Business Review, Carolyn O’Hara offers some practical advice as to how to build a strong rapport from day one [3]. She suggests (1) looking for common ground (2) being empathetic to your new boss’s situation (3) not laying it on too thick (or thin) (4) helping them achieve early wins, and (5) coming armed with solutions, rather than problems.
Equally, experts recommend discerning your new boss’s communication style early. “The sooner you get a sense of how they prefer to be communicated with, the better,” says Watkins [4]. Do they prefer email, calls, texts, or in-person discussions? Do they like to weigh all of the pros and cons before making a decision, or do they want to hear what you’d suggest? Knowing this information will help you avoid misunderstandings that could complicate your work or put you in a difficult situation.
Dillon says the best way to discern this information is simply to outright ask. “Even if they don’t have a great answer because they’re still figuring it out,” she says, “they know that you’re open to it and that you’re approaching them with the attitude, ‘I want to be effective for you.’” [5]
Onboarding a new manager
If you’re a long-serving member of your company, or if your new boss has previously worked in other fields and is less familiar with their new territory, they may be reliant on you to get them up to speed as to how the company functions. This onboarding process is pivotal. If you help your new boss hit the ground running, they’ll be indebted for you going forward. If you make life tricky, the opposite is likely to be the case.
According to research from Egon Zehnder, there are three main reasons why new leaders derail: 1) They fail to understand how the organisation works; 2) They don’t fit with the organisational culture; and 3) They struggle to forge alliances with peers [6]. A helpful, ambitious employee can see to it that their new leader doesn’t fall into any of those trappings.
In Harvard Business Review, Rose Hollister and Michael D. Watkins write that their research shows that those challenges were not dissimilar whether said new boss was an external hire or had received an internal promotion. Leaders they surveyed “said internal promotions were 70% as difficult as coming in from the outside.” [7]
Hollister and Watkins diagnose three fundamental types of learning when starting a new role: technical, cultural, and political [8].
They say that technical learning is about understanding what it takes to succeed in the job. In other words, getting up to speed with the specifics of the organisation’s roles, goals, capabilities, KPIs, and performance, as well as any key products, technologies, systems or customers. Cultural learning is about understanding the key behavioural norms that govern company norms, if there is a certain in-house style or process, for example. Political learning is about identifying the key stakeholders and internal relationships or hierarchies, and clarifying the decision-making processes.
When to be worried
While adjusting to a new leader requires flexibility and patience, certain situations may warrant concern. It could be that your new leader starts showing signs of misalignment with the company culture, or quite simply that they’re not a good leader or person. The impact of that will obviously be felt around the office and could negatively affect your career. So, what kind of signs should you be looking out for?
An obvious indicator that your new boss is not the right fit is if they display unethical behaviour. Some of that may be obvious and easily dealt with –– someone who openly partakes in harrassment, bullying or discrimination should be swiftly dealt with in the modern world. But equally look out for other more nebulous traits such as favouritism, a punitive streak, unpredictable moods or microaggressions.
If you notice these traits but sense they are down to a misunderstanding, it could be worth raising your concerns with the individual in question. If the signs are more pernicious, it may be time to report your concerns to human resources. If they fail to act, start looking elsewhere; anyone who works for a long period of time under a bad boss in a toxic environment tends to bear the scars. It’s not worth it.
Navigating new leadership
The arrival of a new leader presents a unique opportunity for both the individual and the organisation. While initial uncertainty is natural, a proactive approach can transform this transition into a springboard for growth and success. By understanding your new leader’s style, building a positive working relationship, and consistently demonstrating your value, you can position yourself for continued success within the changing landscape.
Remember, your career growth is ultimately your responsibility. If the new leadership creates an environment that hinders your professional development or well-being, don’t be afraid to explore new opportunities that better align with your career goals. The skills you develop during this transition, such as effective communication, adaptability, and a willingness to learn, will serve you well throughout your career.
More on Change Management
Mastering Change and Complexity: Strategic Leadership in an Uncertain Business World
Pioneering Change : A Case Study of Jeff Bezos Transformational Leadership at Amazon
Sources
[1] https://hbr.org/2016/10/how-to-build-a-strong-relationship-with-a-new-boss
[2] https://hbr.org/2016/10/how-to-build-a-strong-relationship-with-a-new-boss
[3] https://hbr.org/2016/10/how-to-build-a-strong-relationship-with-a-new-boss
[4] https://hbr.org/2016/10/how-to-build-a-strong-relationship-with-a-new-boss
[5] https://hbr.org/2016/10/how-to-build-a-strong-relationship-with-a-new-boss
[7] https://hbr.org/2023/02/how-to-onboard-your-new-boss
[8] https://hbr.org/2023/02/how-to-onboard-your-new-boss
Introduction
It’s a painful moment. You’ve gone from the sun and shore, waves crashing against the sand while you sip on a fruity cocktail, to the harshly lit office, two screens in front of you, a litany of meetings in the diary and a seemingly bottomless email intray. It’s the return to work from holiday, and for a lot of people it’s hell.
Re-entry shock, holiday hangover, call it what you will. For a lot of us it’s hard to not be overwhelmed by the stark transition, harder still to actually hit the ground running. These return periods often result in a drop in productivity, a slump in mood, and a sense of disconnection.
But there are ways to avoid the negative spiral a return to work can bring. With a well-planned post-holiday transition, you can turn this potentially stressful time into an opportunity for rejuvenation and renewed focus. By implementing strategic measures, both employees and businesses can benefit from a smoother, more productive return to work.
The need for holiday
Sometimes during this draining return period we think, “why did I even take that holiday at all?” We convince ourselves it wasn’t worth the stress and that it would have been better to keep stubbornly plodding along without a break than face such a contrasting yin and yang.
As an example, senior advisor and executive coach Darin Rowell, EdD, quotes his client “Leslie” in Harvard Business Review. “Coming back from vacation almost makes [it] seem not worth it. For me, it’s like psychologically accelerating from a cruising pace of 30 mph to a speed of 80 so I can get through my inbox, catch up on all the meetings I missed, and reconnect with my neglected clients. And that’s on top of the guilt I’ve been feeling about overburdening my team while they’ve been covering for me.” [1]
Leslie’s thinking is common, but misplaced. Holidays are worth the pain of returning, even if you’re overwhelmed. Rest is vital, not optional. Refusal to commit to proper R&R can have profoundly negative consequences.
As Rowell writes, “research shows that those who don’t take the opportunity to rest, recharge, and recover are at higher risk of exhaustion, low motivation, poor performance, and burnout, while those who engage in regular periods of work recovery enjoy better sleep, higher job satisfaction, more engagement, and higher job performance.” [2]
Meanwhile, studies have shown that women tend to be less likely to use all of their allotted holiday days as compared with men. [3]
“In general, women tend to experience more guilt and are less confident than men, so that may hold women back from feeling like they can ask for and have permission to take time off,” says Fiona Murden, founder of Aroka, an organisational psychology consultancy, and author of Defining You. [4]
Given that studies show that workers who use their vacation days may be more productive and creative, as well as more likely to get a raise and receive higher performance reviews, it’s vital that all workers take proper time off [5]. But especially important women feel free to, or else we risk expanding an already too large gender divide.
Why do we slump?
It’s all too easy upon our return to lay the blame for our disconnection at our own feet –– we didn’t plan well enough, we didn’t check our emails or properly delegate, we had too much fun away from the office and are now reaping what we sewed. This melodramatic self-flagellation serves no one, and is fundamentally misplaced.
It’s only natural for the return to work life to be difficult. Holidays disrupt our biological rhythms and cognitive functions. Jet lag from travel, irregular sleep patterns, and changes in daily routines can all affect our ability to reintegrate into work. For instance, altered sleep cycles can impact our circadian rhythms, leading to fatigue and decreased cognitive function. Additionally, the pleasure of holiday activities boosts dopamine levels, creating a stark contrast when returning to routine tasks.
Additionally, our brains quite literally exaggerate the realities of day-to-day life, making the return to the mundane seem disproportionately more anxiety-inducing and depressing than it actually is. Indeed, according to Dr. Melissa Weinberg, a research consultant and psychologist specialising in well-being and performance psychology, this exaggeration of the brain that exacerbates our post-holiday blues is actually a sign of healthy psychological functioning.
“It’s just one of a series of illusions our brain fools us into believing, in the same way we think bad things are more likely to happen to others than they are to us. Somewhat ironically, the capacity to fool ourselves every single day is an indication of good mental and psychological functioning,” sh explains in The New Daily. [6]
“So, whether we did enjoy our holiday, and whether we’d rather be on vacation than back at work, our brain is wired to make us believe that we did, or that we would. In doing so, we pay the emotional cost for a well-enjoyed break, and we experience a comedown toward our baseline of well-being,” she explains.
That’s not to mention the emotional toll of time off. According to the National Alliance on Mental Illness, 64% of people report being affected by holiday depression, and it’s most often triggered by financial, emotional, and physical stress of the season. [7]
The stress of holiday spending, combined with the abrupt end of relaxation and leisure, can lead to post-holiday blues. Adjusting back to work routines can feel daunting, and the emotional high of the holiday season may make the return to daily responsibilities seem even more monotonous –– you’re seeing the nine to five you were accustomed to with fresh eyes. It takes some time to fall back into the routine.
Negative impact
Needless to say, the post-holiday slump impacts the business as well as the returning employee. Decreased productivity can lead to missed deadlines and a backlog of work, while disengaged employees are more likely to consider leaving their jobs, increasing turnover rates. This period can also disrupt team dynamics and project timelines, affecting overall business performance. As such, it’s important we have plans in place to ensure our reintegration to working life is as smooth as possible.
Strategies for a smooth transition: Delegate
The first step to a smooth reintegration comes well before you’ve even set off. Once those rest days are in the diary, you want to inform those around you of the timings of your absence and ensure you’ve got the right people in place to cover your assignments. How you approach that will vary depending on your seniority. A manager will need to ensure someone is there in their stead to oversee operations. For a more junior member of the team, it’s best to have your manager do the delegating for you rather than take it on your own back; they know the strengths of the team better than you do.
A lot of the stress of returning post-holiday is the mountain of work that awaits you. Having a prepared and trusted set of delegates on top of the detail alleviates that pressure. Either they’ll have covered all your work, or will have been sufficiently across the detail that they can brief you on what you’ve missed so you’re not scrambling through your inbox searching for anything urgent.
Strategies for a smooth transition: Don’t overdo it
When we first return to work, it’s tempting to want to make up for lost time. That often means we end up overdoing it during our first week or even day. It’s understandable to want to cover all that lost ground right away. As Rowell writes, “the urge to overwork stems from a well-meaning effort to relieve team members of the extra work they were covering for you, or a desire to demonstrate that even though you were away, your commitment remains high and you’re still valuable to the organisation.” [8]
But overworking “can leave you boomeranging from one extreme to the other, which increases stress and actually undermines your efforts to catch up” [9]. Rowell recommends taking at least a day to recover after your holiday before you start working again so you can mentally and physically prepare for the change in environment.
Strategies for a smooth transition: Allow yourself a catch-up day
Once back in the office, Murden recommends using that first day back as a buffer day in which you don’t schedule any calls or meetings. “Unless it’s an emergency,” she says, “use this day to get organised.” [10]
David Henzel, a member of Forbes’ Young Entrepreneur Council, agrees. He says day one should be solely for catching up and reimbursing yourself in the worklife, with zero meetings. His aim is to be at “inbox zero” aka having zero pending messages by the end of the day. He says “taking this time to catch up on the first day back results in the mental clarity to properly plan out the remainder of the week and provides the momentum to be at your peak performance as soon as possible.” [11]
Strategies for a smooth transition: Exercise healthy boundaries
Another member of the Forbes’ Young Entrepreneur Council, Carry Metkowski, advises making use of one particularly helpful word once you’re back: No. There will be meetings you don’t need to attend, tasks that can wait. Don’t take on more than you can chew. Show some judgement and put the more menial elements of your workload on the backburner.
“While saying “no” can sometimes create a little discord at the moment,” she says, “the extra emotional reserves you’ll have to take care of more important things will be well worth it.” [12]
Strategies for a smooth transition: Reestablish a routine
A lot of the discord that comes in the wake of a holiday stems from the fact that your long-established routine has been disrupted. The key to reintegrating swiftly is to find it again. That means waking up at the usual time, undertaking any external activities you usually partake in, such as exercising or meditating pre- or post-work, and generally committing to your familiar habits.
This disciplined and consistent approach is crucial to regaining focus and efficiency,” says Izabela Lundberg of the Legacy Leaders Institute, “helping you tackle work challenges with renewed energy, passion and success.” [13]
Rest isn’t optional
Perhaps Rowell’s most essential advice is that, should you find yourself in a working environment that discourages time away, or that rewards employees for excessive hours and self-sacrifice while punishing those who take their legally-mandated holiday, you leave.
“This kind of unhealthy work environment will leave you ripe for exhaustion and burnout,” he writes. “If you can’t leave right away, start creating an exit strategy” [14]. You deserve time off. Any company that fails to acknowledge that or correctly honour it isn’t worth your time.
Returning refreshed
While the initial return to work after a holiday can feel jarring, it doesn’t have to be a period of dread. By viewing this time as an opportunity for rejuvenation and renewed focus, both employees and businesses can benefit.
Rest isn’t a luxury, it’s a necessity. Businesses that prioritise employee well-being by encouraging proper time off and fostering a supportive work environment ultimately reap the rewards of a more engaged and productive workforce.
However, the responsibility doesn’t solely lie with employers. Employees must also be proactive in creating a smooth transition. This includes planning ahead, delegating tasks, and prioritising well-being during the first week back. Remember, it’s okay to say “no” to additional workload and to focus on reestablishing a healthy routine.
By following these strategies, we can transform the post-holiday period from a dreaded slump into a time for renewed energy and a successful return to work.
More on Rest
How Much Should You be Working?
Stress Management and Leadership Through Mindfulness
Sources
[3] https://www.fastcompany.com/90199683/theres-a-gender-gap-in-vacation-time-too?
[4] https://www.forbes.com/sites/shelleyzalis/2018/07/24/vacation-is-good-for-you-and-your-company/
[6] https://thenewdaily.com.au/life/wellbeing/2017/01/15/post-holiday-blues
[7] https://www.healthcentral.com/condition/depression/post-holiday-depression
[10] https://www.forbes.com/sites/shelleyzalis/2018/07/24/vacation-is-good-for-you-and-your-company/
Introduction
There’s an endless stream of talk around the subject of work-life balance. Employees want to enjoy their work while not giving themselves over to it entirely, leaving space both mentally and in the actual diary for personal activities.
But what about those struggling with the opposite? Those whose personal lives have become difficult through bereavement or caregiving responsibilities, and for whom just getting through the workday is an achievement. How can we find a balance between working effectively during times of turbulence while also accepting our fragility and finding a way out the other side?
Hopefully this article can in some small way help with that. We will lay out some of the challenges facing caregivers and grieving employees before offering advice for how to handle these difficulties in the workplace.
Working while caregiving
Nearly 75% of employees have caregiving responsibilities outside of work [1]. It is increasingly common and increasingly costly. Estimates say that for 73% of employees, the amount of hours per week given to caregiving tends to be somewhere between twenty and thirty [2]. It is essentially a second job, and one that takes a toll.
“Being a caregiver can lead to both mental and physical fatigue. This can look like anxiety, depression, physical exhaustion, headaches, stomach aches and other physical ailments, social isolation, languishing, loss of interest in hobbies or activities someone once loved, weakened immune system, and can even manifest in self-numbing behaviours,” according to Gina Moffa, LCSW, a grief and trauma therapist, and author of Moving On Doesn’t Mean Letting Go: A Modern Guide to Navigating Loss. [3]
That is reflected in the numbers. Ibec recently published research on the impact of caregiving on staff, based on the answers of 1,200 people aged 25-65. Of those who were carers (roughly half), it found that 63% reported caring responsibilities having a negative impact on their mental health, with 57% saying they brought additional financial pressures. 31% said caring impacted on their ability to do their jobs and 38% believed it had affected their careers. [4]
According to RCIC, nearly one third of caregivers who provide support for a family member voluntarily decided to leave their job due to emotional exhaustion [5]. In research conducted by Family Carers Ireland, “Skilled workers were found opting for under employment, reducing working hours, forgoing career opportunities, while others changed roles to gain employment locally or left their job entirely for more flexibility or to better manage their responsibilities.” [6]
Part of the problem is the work culture around caregiving. Looking at the numbers above, provided by a range of sources across different continents, it’s obvious that a huge number of employees are caregivers. And yet, how often do we hear about these duties in the workplace? Rarely. It is taboo. Mainly because in the achievement mindset culture that has developed around work, employees worry that to bring up their external duties –– much less to acknowledge that those duties impact their work life –– would make them seem less committed or less capable than their non-caregiving counterparts.
“Admitting you have a nearly full-time caregiving responsibilities — and you don’t know when those duties will subside — is career suicide,” Katherine Tasheff told Forbes [7]. Her husband had fallen off a ladder and suffered a traumatic brain injury two days after moving into their new home in upstate New York. She continued to commute two hours to New York City for her job even though she worried he shouldn’t be alone in the house. Eventually, like many others, she left her job and found remote work.
Whether Ms Tasheff’s comment is correct can be debated. But there’s no denying that the prevailing feeling amongst workers is that they are in a dog-eat-dog environment and even so much as acknowledging the challenges of the reality they’re living with could count against them. As such, they bottle it up. That emotional repression is no doubt a contributory factor to the mental health statistics noted earlier.
The gender gap
Perhaps unsurprisingly, but still disappointingly, a gender gap persists in those with caring responsibility. The Irish Times reports that 7.7 million women across Europe are effectively excluded from the workforce by caring responsibilities. In Ireland about 80% of those receiving the various carers’ benefit payments are women. [8]
An EBN State of Caregiving report from 2023 suggests the number of male caregivers is rising –– standing at 38% according to their research [9]. But that still shows the discrepancy and impact on women being forced to bear the brunt of such draining and career-impacting responsibilities.
Working while grieving
According to the Independent, Irish companies generally offer 3-5 days of paid bereavement leave, dependent on the employee’s relationship to the person passing. Meanwhile, the Irish Hospice Foundation revealed in a survey that 20% of people said they did not get the support they needed during their most recent bereavement. [10]
Anyone who has experienced loss will be all too aware that 3-5 days is no recovery period. It can take years, a lifetime even, to come to terms with the greatest losses. It is ongoing, and draining. Indeed, the death of a loved one has been recognized as the most significant life stressor that we face as humans. [11]
As Rebecca Soffer, bestselling author of The Modern Loss Handbook: An Interactive Guide to Moving Through Grief and Building Your Resilience, notes, “There’s no way around it: You will bring your grief to work with you, and some days, it’ll be easier to focus and be productive than others (and that’s completely normal).” [12]
A phenomenon that can serve as a middle ground between caregiving and grieving is that of anticipatory grief. As defined by Sabina Nawaz, a global CEO coach and leadership keynote speaker, who advises C-level executives in Fortune 500 corporations, government agencies, non-profits, and academic organisations, writing in Harvard Business Review, anticipatory grief is “a distinct type of grief different than the grief we experience after a loss. [It] involves coming to terms with the impending event, learning how to incorporate it into our reality, and planning our good-byes.” [13]
Ms Nawaz acknowledges the brevity of grieving periods ascribed to those in mourning and notes that “there is even less institutional support for anticipatory grief.” [14]
As such, she proposes some solutions for ensuring your work life does not suffer while facing anticipatory grief. Her advice is equally useful for anyone in mourning.
How to ensure your work does not suffer amidst personal difficulties
- Prepare your colleagues
As Ms Nawaz advises, “Many people won’t know how to respond when you announce the anticipated death of a loved one. Be explicit about what you’d prefer in your interactions to garner the support you need.”
She advises that you share the situation and how you want it handled with one person you trust and allow them to pass it on. This is preferable to having to announce the news over and over. Some people are open and would rather their colleagues feel comfortable talking to them about it. Others would rather things were kept strictly professional to help keep their mind off it. There is no right way; it’s a personal choice.
- Create a plan B
Creating a backup plan for work is helpful. You don’t necessarily know when a bad day will come and you’re in no state to work. In advance of that, have a plan in place. Ask trusted colleagues if they’d be okay to step in for you when such an event happens or advise your boss so that they can distribute the load as they see fit.
- Use a second set of eyes
Chances are you won’t be performing at your best during this difficult time. As such, it is a good idea to have a colleague double check your work to ensure it’s at your expected level. Don’t worry about being a burden –– most people will be glad to have a tangible way to support you. It also ensures your performance doesn’t drop off. It’s easy to let our pride get in the way and to want to appear unimpacted by what has gone on personally. But we are all human. There’s nothing shameful about asking for help.
- Identify permanent no’s
Ms Nawaz writes about the newfound clarity she had around certain activities. Meetings that she wasn’t needed for but attended all the same and pesky distribution lists suddenly went from things she tolerated to things she realised she didn’t need to. “As you say “no” in the short term,” she writes, “take this clarifying opportunity to say no permanently to low-impact activities that have become unquestioned habits.”
Helping employees/colleagues
The above advice is all for those who are dealing with caregiving duties or grief. But what if the shoe is on the other foot and you are the employer or colleague with an employee or co-worker dealing with personal troubles? Try to be compassionate and think how you would like to be treated. How you act in such moments won’t just impact them in the moment but forever. Get it right, it will be remembered and paid back. Get it wrong, and don’t expect that employee to hang around. It is the hard times that define you as a leader and a friend.
Going back to the Ibec research, only 57% of respondents believed their employer demonstrated flexibility when it came to accommodating caring responsibilities. Only 29% were aware of a company policy regarding the issue. Worse still, just 21% said they had been given paid leave to help them at any point [15]. It is the boss’s duty to ensure their employees are aware of such policies and doing all they can to help them make use of them in times of strife.
If your only thought is business-oriented, research from an MIT study shows that employees who trust their employers are 260% more motivated to work [16]. Trust is not a given, it is earned. This is the time to earn it.
The juggling act
This article has explored the challenges faced by employees juggling caregiving responsibilities or navigating the throes of grief. It’s clear that the current “work-life balance” narrative often fails to acknowledge the realities of these situations.
For employees, the key takeaway is the importance of open communication. Prepare your colleagues for your situation, create backup plans for difficult days, and don’t be afraid to ask for help –– a second set of eyes on a project or a temporary shift in workload can make a world of difference.
The responsibility doesn’t solely lie with employees. Employers have a crucial role to play in fostering a supportive work environment. Implement clear and accessible policies for bereavement leave and caregiving accommodations. Promote a culture of empathy and understanding. Remember, research shows that employees who feel supported are more motivated and productive. By creating a safety net for employees during difficult times, businesses not only do the right thing, they invest in their most valuable asset: their people.
Ultimately, the goal isn’t simply to survive personal hardships while working. It’s about building a workplace ecosystem that allows employees to weather storms without sacrificing their well-being or their careers. By fostering open communication, offering practical support, and prioritising empathy, both employees and employers can emerge stronger on the other side.
More on Delegation
Why You Should Delegate – And How To Do It Effectively
Sources
[1] https://www.bls.gov/news.release/pdf/famee.pdf
[6] https://www.irishtimes.com/tags/family-carers-ireland/
[11] https://pubmed.ncbi.nlm.nih.gov/6059863/
[13] https://hbr.org/2019/08/how-to-cope-with-anticipatory-grief-at-work
[14] https://hbr.org/2019/08/how-to-cope-with-anticipatory-grief-at-work
Introduction
The transformation of Twitter (X) under Elon Musk’s leadership, following the foundational era of Jack Dorsey, signifies a notable turning point in the company’s trajectory. Musk’s unique blend of transactional efficiency and transformational vision departs from Dorsey’s approach (Hays & Kay, 2022; ET Tech, 2022), with far-reaching implications for Twitter’s strategic direction and workforce.
This article will investigate further the impact of these distinct leadership styles on the employees at Twitter. It critically examines the balance Musk strikes between the clarity of transactional leadership and the motivation of transformational leadership.
Drawing upon the foundational theories of Burns (1978) and Bass (1985) and augmented by empirical insights from Hoogh et al. (2015), Tahir (2015), and Shang (2023), this discussion will explore the nuances of Musk’s leadership in terms of employee morale, organisational culture adaptation, and the concept of leadership ambidexterity in the evolving digital landscape.
Impact on Employee Well-being
Elon Musk’s acquisition of Twitter instigated significant changes, affecting employee well-being (Rafferty & Jimmieson, 2017). Musk’s leadership style, blending directive methods with visionary elements, has had dual impacts on staff. His directive approach, focusing on immediate results and structural changes (Bass, 1985; Rafferty & Griffin, 2006), has potentially heightened employee stress levels. Conversely, Musk’s vision aims to inspire and unite the workforce towards common goals (Tahir, 2015), which might alleviate some of this stress.
The rapid organisational shifts, including extensive layoffs, have likely caused uncertainty and concerns about job security (Ahmad & Biyani, 2023). However, the energising aspect of Musk’s vision offers a counterbalance.
Additionally, the recent appointment of Linda Yaccarino as CEO introduces new dynamics to Twitter’s leadership structure. This leadership transition, critical for morale and stability, necessitates precise management and alignment with the company’s evolving goals. It presents an opportunity for Twitter to reinforce its organisational culture and address employee apprehensions, thereby contributing to improved overall well-being during this transformational phase.
Resistance and Acceptance of Change
In Musk’s leadership at Twitter, marked by swift changes and rigorous performance metrics, resistance among employees is a likely outcome. This resistance, often resulting in lower productivity and job satisfaction, as Halkos (2012) noted, arises from the challenges of rapid change in a dynamic setting.
However, Musk’s transformational leadership traits, which Tahir (2015) highlights for their motivational impact, present an opportunity to mitigate this resistance. Musk could create a more accepting and engaged workforce by blending transactional efficiency with transformational inspiration (Bass, 1990; Bass & Avolio, 1990)
A key strategy for Musk would be to communicate performance goals while conveying Twitter’s future vision. Clear expectations and an inspiring vision can increase employee buy-in, easing the transition process and fostering a more adaptable workforce.
Leadership Styles and Organisational Culture
During Elon Musk’s tenure at Twitter, his leadership has interwoven transactional and transformational styles, significantly impacting the organisation’s culture. Transactional leadership, focused on efficiency and immediate outcomes (Bass, 1985), has cultivated a goal-oriented environment but could potentially hinder innovation and morale. In contrast, transformational leadership, aiming to inspire and develop employees (Burns, 1978; Tahir, 2015), encourages a culture of creativity and strategic foresight.
Musk faces the challenge of balancing these contrasting styles. Merging transactional leadership’s assertive, results-driven nature with transformational leadership’s empowering, visionary aspects could achieve a harmonious cultural balance. This approach aligns Twitter’s immediate needs with an innovative, growth-supportive environment crucial for long-term success. This balanced leadership style aligns with the adaptability highlighted in previous discussions, reflecting the dynamic needs of modern corporate environments.
Critical strategies for change management at Twitter might include:
- Enhanced Communication: Vital for successful change. Weick and Sutcliffe (2015) emphasised that clear, transparent communication is essential for reducing uncertainties.
- Inclusive Decision-Making: Encouraging employee participation in decision-making, in line with transformational leadership principles (Bass, 1985), fosters ownership and commitment.
- Support for Employee Development: Addressing change-related stress (Rafferty & Griffin, 2006) through training, development programs, and wellness initiatives.
- Resilient Organisational Culture: Developing an adaptable, innovative culture that balances transactional efficiency with transformational inspiration.
These strategies will prepare Twitter for continuous and future changes by blending practical experience with theoretical insights, ensuring effective change management in a dynamic digital environment.
Recommendations
To manage Twitter’s transformation under Musk effectively, several key strategic recommendations are critical:
- Enhanced Communication and Transparency: In line with Weick and Sutcliffe’s (2015) model, clear communication regarding changes and future direction is essential for reducing uncertainties and aligning employees with Twitter’s new path.
- Inclusive Decision-Making and Development: As advised by Nielsen et al. (2017), promoting employee involvement in decision-making will enhance engagement and reduce resistance to change. This approach cultivates a sense of ownership and commitment to Twitter’s objectives.
- Leadership Training: Development programs integrating transformational and transactional leadership styles are vital. Such training prepares leaders to effectively manage change, fostering an innovative and high-performing organisational culture.
- Well-being and Support Systems: Acknowledging the stress associated with change, as Rafferty and Griffin (2006) noted, implementing comprehensive well-being programs is crucial. These should include counselling, stress management workshops, and other support systems to assist employees in adapting to the changes at Twitter.
By adopting these strategies, Twitter could streamline its transformation, enhancing resilience and adaptability within its culture. This balanced approach weaves together empirical evidence and theoretical principles to support innovation while prioritising employee welfare. Top of FormBottom of Form
Conclusion
In conclusion, through the lens of transformational and transactional theories, this analysis of Elon Musk’s leadership at Twitter reveals significant impacts on employee well-being and their adaptation to change. The intersection of Musk’s dynamic leadership approach, encompassing both transactional efficiency and transformational vision, underscores a complex interplay in the organisational change process.
Critically, the article highlights the importance of strategic communication, participative decision-making, and leadership adaptability in mitigating the challenges posed by such a transition. These strategies, rooted in empirical research and theory, are vital in fostering a supportive and resilient organisational culture.
Twitter’s success hinges on harmonising leadership styles to maintain innovation and ensure employee satisfaction. Understanding the human aspect is vital for navigating change and shaping the company’s future in the digital landscape.
Sources
Ahmad, S., & Biyani, S. (2023). Impact of Merger and Acquisition on the Companies Involved: A Case Study of Musk-Twitter Acquisition. IJFMR-International Journal For Multidisciplinary Research, 5(1).
Baskarada, S., Watson, J. C., & Cromarty, J. (2017). Balancing transactional and transformational leadership. International Journal of Organisational Analysis, 25(3), 506-515.
Bass, B. M. (1985). Leadership and performance beyond expectations. Free Press.
Bass, B. M. (1990). Bass and Stogdill’s handbook of leadership. Theory, Research & Managerial Applications.
Bass, B. M., & Avolio, B. J. (1990). Developing transformational leadership: 1992 and beyond. Journal of European industrial training, 14(5).
Burns, J. M. (1978). Leadership. Harper & Row.
ET Tech. (2022). Jack Dorsey, PayPal Mafia said to be behind Elon Musk’s Twitter takeover: WSJ report. The Economic Times. Retrieved December 28, 2023, from https://economictimes.indiatimes.com/tech/technology/jack-dorsey-paypal-mafia-said-to-be-behind-elon-musks-twitter-takeover-wsj-report/articleshow/91199359.cms
Halkos, G. E. (2012). Importance and influence of organisational changes on companies and their employees.
Hays, K., & Kay, G. (2022, November 4). Elon Musk takes away ‘days of rest’ at Twitter in another major shift from Jack Dorsey’s leadership style. Business Insider India. Retrieved December 28, 2023, from https://www.businessinsider.in/tech/news/elon-musk-takes-away-days-of-rest-at-twitter-in-another-major-shift-from-jack-dorseys-leadership-style/articleshow/95286708.cms
Hoogh, A. H. B., De, Greer, L. L., & Den Hartog, D. N. (2015). Diabolical dictators or capable commanders? An investigation of the differential effects of autocratic leadership on team performance. Leadership Quarterly, 26, 687-701.
Nielsen, K., Nielsen, M. B., Ogbonnaya, C., Känsälä, M., Saari, E., & Isaksson, K. (2017). Workplace resources to improve both employee well-being and performance: A systematic review and meta-analysis. Work & Stress, 31(2), 101-120.
Rafferty, A. E., & Griffin, M. A. (2006). Perceptions of organisational change: A stress and coping perspective. Journal of Applied Psychology, 91(5), 1154-1162.
Rafferty, A.E., & Jimmieson, N.L. (2017). Subjective Perceptions of Organisational Change and Employee Resistance to Change: Direct and Mediated Relationships with Employee Well‐Being. Labor: Personnel Economics eJournal.
Shang, J. (2023). Transformational Leadership Influences Employee Performance: A Review and Directions for Future Research. Highlights in Business, Economics and Management.
Stewart, J. (2006). Transformational Leadership: An Evolving Concept Examined through the Works of Burns, Bass, Avolio, and Leithwood. Canadian Journal of Educational Administration and Policy.
Tahir, H. (2015). Leadership style and organisational performance: A comparative study between transformational and transactional leadership styles.
Weick, K. E., & Sutcliffe, K. M. (2015). Managing the unexpected: Sustained performance in a complex world. Jossey-Bass.
