Anne Sweeney: "Failure Is Very Important for the Creative Process"
During her recent Stanford GSB View From The Top talk, President of Disney/ABC Television Group Anne Sweeney discussed risk-taking, curiosity, learning from failure, and more. Read top takeaways below:
On work-life balance: “Prioritize and stick to it. Accept failure when it comes, own it, and move on quickly.” –Anne Sweeney #gsbvftt
Tweet this: Plan to be a mentor, but be very discriminating and exercise care before agreeing to mentor someone. –Maeve Richard, Director of Stanford GSB’s Career Management Center Read the full FT.com article
Tweet this: "Forming a couple of good mentor relationships can help bridge the gap between startup failure & success." –Gabriel Weinberg, CEO & Founder of DuckDuckGo Read the full blog post
Rehearsing your body language and getting proper rest are effective tactics for reducing public speaking anxiety and ensuring that you give a memorable presentation. Read on for a round-up of top public speaking tips from Stanford GSB faculty and guest speakers:
1. To manage anxiety, reframe the situation as a conversation rather than a performance. http://stnfd.biz/vJAix
In last week’s “Nuts & Bolts” talk at Stanford GSB, Lecturer Robert Siegel (MBA ‘94) shared insights on hiring and compensating employees at a startup. Read three key takeaways below, and view the slides from his talk here.
1. Hire a star executive team “Your executive team will be the single most important hire that you’ll make,” says Siegel. “Your ability to scale is directly related to the capability of your direct reports.” Think about skill sets when building this team; you want a group of people who are smarter and better than you.
Some of the common roles to fill on the executive team include vice presidents of marketing, sales, engineering/CTO, and product. There will also be “outlier leaders,” or executives who come later with more years of experience. In any case, the founding team should think about bringing on people who are going to help change the game. Hire people with long “runways,” and consider how they could grow into different roles as the company scales.
2. Hire technical talent who can get your product out the door Looking for a technical cofounder? You have to be aggressive in going out and finding someone, says Siegel. Look for local meet-ups and talks where you can cross paths with engineers. Ask all potential candidates: “Have you ever delivered and shipped a product?” You want to hire people who can get your product out the door and working to spec because in the end what matters is that the product functions correctly and shows up on time.
3. Pay your team what is fair Don’t overpay and don’t underpay. All that most people who believe in your product and company want is to be paid fairly, believes Siegel. Make the compensation conversation data-driven versus emotional.
Also remember that not all founders are created equal; sometimes when you start a company, one person has more experience or a broader skill set. You need to talk upfront about divvying up the compensation. It’s never an easy discussion, but if you don’t deal with the financial issues at the start, they’ll come back to haunt you later. (View the slides for more on compensation best practices.)
Stanley McChrystal: What Makes a Team Great? Trust & Purpose
Pictured: Stanford GSB Dean Garth Saloner, Stanley McChrystal, and Dan Berschinski (MBA ’15) before the talk.
Talent alone doesn’t make a great team. You need faith in your colleagues and alignment behind a common goal, shared General Stanley McChrystal during his recent View From the Top talk at Stanford GSB. Watch the full video, see more photos from the event, and check out highlights below:
A great team has 2 essential components: trust and a shared purpose with the organization. -General Stanley McChrystal #gsbvftt
THE TROUBLE WITH ONE AT A TIME Professor Baba Shiv and Cassie Mogilner (PhD ’09) looked into whether arranged marriages last longer than “love marriages.” Is there something about the psychology of how we make choices that affects satisfaction and commitment?
Love marriages are the result of a “sequential choice,” where people often forsake all other prospective mates during a multiyear process of dating one person
Arranged marriages come from a “simultaneous” decision-making process where people have several options for mates and the task is to pick the best match of the lot
Seeing all of the options for potential partners at once, like in the arranged marriage process, makes people happier with the choice they make
Stanford Re:Think Roundup: Achieving Success in Business and Beyond
In these top five Stanford Re:Think articles from January, Stanford GSB faculty members explore how to effectively build a company culture, communicate ideas, pursue goals, and more. Sign up for our free Stanford Re:Think email and you’ll get thought-provoking business insights and groundbreaking ideas delivered right to your inbox: http://stnfd.biz/tmRcb
HOW SUCCESSFUL COMPANIES SCALE Two Stanford professors discuss how the best leaders and teams develop, spread, and instill the right growth mindset in their organizations. Read the full article here.
WHY BODY LANGUAGE IS CRITICAL TO PROFESSIONAL SUCCESS Professor Deborah Gruenfeld explains how your nonverbal behavior affects the way you are perceived, and how you can use body language for greater influence. Read the blog post here.
EMPLOYERS SHOULD ACKNOWLEDGE WORKERS’ COMPETENCES AND SUCCESSES WITH MORE THAN MONEY Organizations generally reward good employee performance with money, and the money “becomes equivalent to the love of the organization,” says Professor Jeffrey Pfeffer. Instead, companies should help employees find meaning in the work itself. Read the full article here and learn more in thisWashington Post article.
HAVING TOO MANY CHOICES CAN DERAIL SUCCESS When people start out on a pursuit, having multiple ways to make progress motivates them to keep going, according to new research by Professor Szu-chi Huang. But when they are close to achieving the goal, having more than one possible path to success can derail them. Read the full article here.
HOW DO YOU SUCCESSFULLY RESOLVE A CONFLICT? Professor Nir Halevy looks to game theory to better understand how to manage disputes in politics, business, and everywhere else. Read the full article here.