The Business Apprenticeship

What can girls and young women learn from those who’ve risen to the top in their respective fields? We asked eight female leaders for their advice…

Overtime... an ongoing debate. I come from a privileged point of view, in that I work online from home, I don't have kids and the culture at my company is great. But as someone that needs to feel on top of my workload in order to relax, I've found it helps me a lot to put in some extra hours. I'm grateful that I have the option to do so, and then I can take time off when it makes sense. Not to mention, I grant myself the peace of mind that comes with knowing I've given my best effort. Unfinished work and not exceeding expectations is like a looming weight on my shoulders. So I'd never enforce strict hours on my team. Would you?

Recently I came across the concept of 'blue ocean strategy'. And I'd like to think Business Apprenticeship is an example. Blue ocean strategy is creating uncontested market space by developing innovative products or services that differentiate a company from competitors, rather than competing in crowded, existing markets (red oceans). One notable example is the Wii console by Nintendo, which introduced motion-sensing controllers that were designed to make games interactive with physical gestures, rather than the normal button presses. So if you're thinking of starting a business, are you better off thinking outside the box? How will you be different?

Robert Kiyosaki's view on assets and liabilities is interesting to me as someone with a background in accounting. He is the author of "Rich Dad Poor Dad," a book that got me working on my personal finance. Assets: According to Kiyosaki, assets are anything that puts money in your pocket. They generate passive income or appreciate in value over time. Liabilities: Conversely, liabilities are things that take money out of your pocket. They require ongoing expenses to maintain or depreciate in value. Traditional accounting principles consider things like cars, boats, and consumer goods as assets, but Kiyosaki classes them as liabilities because they typically don't generate income and instead incur expenses such as maintenance, insurance, and depreciation. In his eyes, even formal education can end up being a liability because people switch careers or don't use their degree. Not for everyone but something to challenge your thinking.

I don't see it as a good thing anymore when people say 'it's fine, I'll start on Monday'. Your life changes the second that you decide to change it. When you see things through that lens, you have more control. When I used to think like that, I didn't last very long in trying to create a habit. Because an all or nothing mindset is such an easy trap. The steps towards your long term goal should be part of your lifestyle, so that in the lowest times of motivation (and you will go through ups and downs), you can keep it up. Seriously, I wish someone told me this five years ago... #stopstartingonmonday

There's many things I've learnt about personal finance since becoming an adult. Here are a few: - saving up for something in particular, setting a budget and a deadline will help with discipline - you don't need to be rich to set up your kids financially, educating yourself and passing it down is a lot more valuable - looking for more ways of income, particularly passive income is just as important as cutting back expenses - financial advisors and mortgage brokers are free! - if you're going to buy it, just enjoy it - don't ruin the experience for yourself AND spend your money anyway - investing is really not that complicated or hard to do well, especially with time on your side A few resources that I love: Rich Dad Poor Dad (the book, which is also on spotify) Girls That Invest (podcast and investing course) Frances Cook (NZ financial journalist) Buyer Beware (a NZ home buyer's guide)

If you needed more of a reason to invest in your people and their leadership skills, here it is: Transitioning from the worst 10% of management practices to the best 10% caused: 👉  Enhanced capacity to attract top-tier talent 👉  Cultivation of improved employee well-being 👉  A remarkable 75% increase in productivity 👉  Accelerated annual growth rates by 25% 👉  A $15 million raise in profits 👉  A tenfold increase in patenting These insights are from the 2017 Harvard Business Review article 'Why do we undervalue competent management', an ongoing research initiative which delves into the managerial dynamics of 12,000 companies spanning 34 nations.

At 211 degrees, water is hot. At exactly 212 degrees, it boils. The steam from that can power a locomotive train. That small difference is all it takes. In the 2008 Olympics, the men's 100m freestyle first-place and second-place swimmers were only 0.08 seconds apart. Only 0.07 seconds separated the 2016 NYC marathon winner and it's runner up. The 1971 Italian Grand Prix winner was only 0.01 seconds ahead of their competitor. Isn't that crazy? The 212 Degrees concept can be applied to all things in life, especially business. That 1% extra effort may be all it takes. Book written by Sam Parker and Mac Anderson.

I love the book Radical Candor because it opened my eyes to the concept of having both 'rockstars' and 'superstars' in a team. ⭐ Rockstars are solid, loyal performers that are content with their role. They provide a stable foundation for the team and can lead by example. ⭐ Superstars are hungry for rapid growth and are focused on chasing opportunities and change. BOTH ARE EQUALLY IMPORTANT.

So true #business #sales