So Good They Can't Ignore You: Why Skills Trump Passion in the Quest for Work You Love
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Mike Jackson’s Work-Hour
Allocation Hard-to-Change Commitments Activity Hours Allocated for the Week 7.5 Lunch/Breaks/Other 4 Planning/Organization 1.5 Partner Meeting/Administrative 4 Weekly Fund-raising Meeting 1 Highly Changeable Commitments Hours Allocated Activity for the Week Improving Fund-raising Materials 3 Fund-raising Process 12 Due Diligence Research 3 Deal Flow Sourcing 3 Meetings/Calls with Potential Investors 1 Work with Portfolio Companies 2 Networking/Professional Development 3 Mike’s goal with his spreadsheet is to become more “intentional” about how his workday unfolds. “The easiest thing to do is to show up to work in the morning and just respond to e-mail the whole day,” he explained. “But that is not the most strategic way to spend your time.” Mike now freely admits that he doesn’t “do much e-mail.” Even after we had been working for a while on the interviews for this book, my scheduling e-mails to Mike only sporadically generated a reply. I eventually figured out that it worked better to call him while he was commuting to his Palo Alto office. On reflection, of course, this makes perfect sense from Mike’s perspective. Spending hours every day sorting through non-critical e- mail from authors such as myself or from business students fishing for tips, among other trivialities, would impede his ability to raise money and find good companies— ultimately the job he’s judged on. Does he annoy some people because of this lack of availability? Probably. But take my example of eventually being forced to call him during his commute: The important stuff still finds its way to him, but on his schedule. When you look at Mike’s spreadsheet, you also notice that he restricts the hours dedicated to required tasks that don’t ultimately make him better at what he does (eighteen hours). The majority of his week is instead focused on what matters: raising money, vetting investments, and helping his fund’s companies (twenty-seven hours). Without this careful tracking, this ratio would be much different. This is a great example of deliberate practice at work. “I want to spend time on what’s important, instead of what’s immediate,” Mike explained. At the end of every week he prints his numbers to see how well he achieved this goal, and then uses this feedback to guide himself in the week ahead. The fact that he’s been promoted three times in less than three years underscores the effectiveness of this deliberate approach. The Five Habits of a Craftsman The stories of Alex Berger and Mike Jackson provide a nice example of deliberate practice in a knowledge-work setting. It can still be difficult, however, to figure out how to apply this strategy in your own working life. Motivated by this reality, I drew from the research literature on deliberate practice, as well as from the stories of craftsman like Alex and Mike, to construct a series of steps for successfully applying this strategy. In this section, I’ll detail these steps. There is no magic formula, but deliberate practice is a highly technical process, so I’m hoping that this specificity will help you get started. Step 1: Decide What Capital Market You’re In For the sake of clarity, I will introduce some new terminology. When you are acquiring career capital in a field, you can imagine that you are acquiring this capital in a specific type of career capital market . There are two types of these markets: winner-take-all and auction. In a winner-take-all market, there is only one type of career capital available, and lots of different people competing for it. Television writing is a winner-take- all market because all that matters is your ability to write good scripts. That is, the only capital type is your script-writing capability. An auction market, by contrast, is less structured: There are many different types of career capital, and each person might generate a unique collection. The cleantech space is an auction market. Mike Jackson’s capital, for example, included expertise in renewable energy markets and entrepreneurship, but there are a variety of other types of relevant skills that also could have led to a job in this field. With this in mind, the first task in building a deliberate practice strategy is to figure out what type of career capital market you are competing in. Answering this question might seem obvious, but it’s surprisingly easy to get it wrong. In fact, this is how I interpret the beginning of Alex’s story. When he arrived in Los Angeles, he treated the entertainment industry as an auction market. By taking a job as a Web editor at the National Lampoon, he began to build up a stable of college-aged humor writers. He also filmed a pilot for a low-budget show for the organization. These actions make sense in an auction market where it’s important to build up a diverse collection of capital. But the entertainment industry is not an auction market; it’s instead winner-take-all. If you want a career in television writing, as Alex discovered, only one thing matters: the quality of your scripts. It took him a year to realize his mistake, but once he did, he left the Lampoon to become an assistant to a TV executive so he could better understand the single type of capital of any value to his field. It was only at this point that he began to gain traction in his career. Mistaking a winner-take-all for an auction market is common. I see it often in an area relevant to my own life: blogging. Here’s a typical e-mail from among the many I receive from people asking for advice on growing their own blog audience: “I’ve finished my first month of posting and am at about three thousand views. The bounce rate, however, is incredibly high, particularly through Digg and Reddit submissions, where it can get close to 90 percent. I’m wondering what next steps you think I should take to bring down the bounce rate?” This new blogger was viewing blogging as an auction market. In his conception, there are many different types of capital relevant to your blog—from its format, to its post frequency, to its search-engine optimization, to how easy it is to |
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