Category Archives: energy leadership

A Bold Journey

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Living life boldly means exposing yourself to all sorts of risk – risk of loss, risk of criticism and judgement, risk of mental, emotional, or physical distress. It’s no wonder, so many of us are raised to not live boldly, to not take risks, to not push ourselves to reach our highest potential.  

Bold Journey, an online magazine, asks people to share the story of their lives and how they got to where they are today. Their mission is to create a space for all of us to learn from each other. They recently reached out to profile my bold journey – the interview is shared below.

Trish, thank you so much for joining us today. Let’s jump right into something we’re really interested in hearing about from you – being the only one in the room. So many of us find ourselves as the only woman in the room, the only immigrant or the only artist in the room, etc. Can you talk to us about how you have learned to be effective and successful in situations where you are the only one in the room like you?

I began my career in the chemical industry, initially working in the lab and later as an engineer running a plating line. I was often the only woman in meetings, in the manufacturing area, and at lunch. My upbringing with six brothers (and two sisters) and playing team sports prepared me for that experience. As the only female, I was frequently offered training programs aimed at increasing diversity. Early in my career, my boss would joke that I went to another facility for lunch because there were more women, and he was right. I did feel lonely and excluded at times, but being the only female also brought unique opportunities. The support, mentorship, and sponsorship I received from men far outweighed the challenges I faced.

Thanks, so before we move on maybe you can share a bit more about yourself?

I am currently in the fourth stage of my career. I started as an engineer making circuit boards and gradually expanded to building various computer components and ultimately overseeing comprehensive product testing. Moving laterally within the company proved to be a transformative experience, allowing me to work with new people in a management role and learn skills and techniques I would call upon for years – this was the second stage of my career.

In my third stage, I ventured into academia, teaching entrepreneurship at MIT and spearheading its capstone accelerator, delta v. This experience was exceptional, immersing me in cutting-edge technology daily and mentoring students eager to make a positive impact on the world. It also provided opportunities to research entrepreneurial ventures globally (check out my free ebook on Start-up Accelerator Programs Around the World).

I continue to collaborate with MIT in the fourth stage of my career, contributing to partner programs in entrepreneurship education. Additionally, I focus on entrepreneurship and energy coaching through my own business. This work has been particularly inspiring, enabling me to help clients maximize their positive impact through enhanced focus and joy in their lives.

There is so much advice out there about all the different skills and qualities folks need to develop in order to succeed in today’s highly competitive environment and often it can feel overwhelming. So, if we had to break it down to just the three that matter most, which three skills or qualities would you focus on?

My career success is significantly attributed to the invaluable mentorship and sponsorship I received, which provided me with a solid foundation of technical, leadership, and personal skills. Several mentors offered training opportunities, and sponsors recommended I transition into the executive ranks. Without their support, I don’t believe my career would have been as successful.

A mentor encouraged me to explore opportunities in the startup realm, a decision that proved to be highly rewarding. I played a pivotal role in the remarkable growth of two startups, helping the first grow to over $100M, and the second to over $225M before it was acquired by IBM.

At MIT, I dedicated my tenure to sharing my entrepreneurship experience and preparing students to excel in business. Over six years, I worked with a fantastic team to teach and develop the skills of student entrepreneurs. Our energy coaching program empowered them to understand their professional presence better and take control of their business and career. We also introduced a mental health aspect into the entrepreneurial journey, a focus that was previously absent. I co-authored an article for HBR about this program titled, “Passion for Your Startup Doesn’t Have to Mean Constant Stress.” This investment in the mental health of entrepreneurs has created a more resilient generation of business leaders ready to face the challenges of the outside world.

We’ve all got limited resources, time, energy, focus, etc. – so if you had to choose between going all in on your strengths or working on areas where you aren’t as strong, what would you choose?

A well-rounded approach will serve you well. Some skills that I’ve developed include the ability to take risks, a strong work ethic, and being a good listener.

I never considered myself a risk taker until my dad, who had been with an employer forever, asked why I was changing jobs. My reason was that there was so much more in the world to learn. I moved from making computers to testing them, using them, monitoring them, and analyzing data. This wasn’t a wild risk, but the shift from large companies to startups was viewed as one. However, as the companies got smaller, I had more control and impact.

I knew that no one would outwork me, and I surrounded myself with a great group of people in a culture I crafted. In this environment, work was recognized, teams were rewarded, and customers received value from our products. I also knew I needed to get comfortable with being uncomfortable, learning from intelligent people who had clever ways to solve problems, regardless of their position.

A learning mindset serves you well. Good listening skills help you zero in on the root cause of issues rather than revisiting them repeatedly. As an entrepreneur, you’re not just taking risks; you’re mitigating them every day. The key is to surround yourself with intelligent and creative people who can build a team where – even if we miss – we win by learning together.

The original article was published in Bold Journey here: “Meet Dr. Trish Cotter.”
Thank you for the opportunity!

From Caps and Gowns to Startups: The Rising Trend of New Grads Choosing Entrepreneurship

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We’re in the midst of graduation season—a time of excitement and anticipation as students leave behind the classroom and start to shape their futures. One trend I’m seeing is that new college graduates are investigating options for entrepreneurship directly out of college, before committing to full-time corporate roles.

A recent HBR article confirms what I’ve seen. It cites a Global University Entrepreneurial Spirit Students’ Survey (GUESSS) of 267,000 undergraduate and graduate students that revealed around 11% of students already own and run businesses. At least 18% of students wished to become entrepreneurs right after graduation and another 32% expressed interest in transitioning into entrepreneurship within five years of their graduation. The study also shows that investments in early-stage startups have increased from $72.8 billion in 2017 to $208 billion in 2021.

If you’ve ever had an idea to start your own business, it might be an ideal time to pursue that passion (especially, while you are still used to living on ramen as you work on getting funding!). Consider this period of your life as an opportunity to explore and to see if entrepreneurship is a viable option for you. At a time when there is so much chaos in the world, doing your own thing can give you back control.

This summer, I’ll be teaching at an entrepreneurship program designed by Dalhousie and the University of Calgary called Lab2Market Launch.  This 12-week summer accelerator brings together members of the entrepreneurial ecosystem from across Canada to turn ideas into viable businesses. In the past, I served as the Director of MIT’s delta v accelerator program, another summer program which is the capstone entrepreneurship experience for MIT students – both are excellent programs to help propel entrepreneurs. And along with these formal programs, there are a host of resources for people who want to explore entrepreneurship – check out this post about thriving as an entrepreneur, and see the links at the end.

As new graduates increasingly turn to entrepreneurship, the landscape of post-graduation career choices is rapidly evolving. This trend has been bolstered by a combination of technological advancements, changing economic conditions, and a growing desire for personal fulfillment and flexibility in career paths. Many prospective entrepreneurs are driven by the appeal of launching startups that align with their passions and the promise of greater autonomy compared to traditional corporate jobs.

Entrepreneurship Advice for New Graduates

For new graduates, exploring entrepreneurship offers several advantages. It provides a hands-on learning experience that can be more dynamic and varied than the structured environment of a corporate job. Starting a business can also foster critical skills such as resilience, problem-solving, and leadership.

However, it is crucial to recognize the challenges, particularly in securing funding. To gain an overview of the types of funding available, check out this article on 8 sources of start-up financing. Traditional funding avenues might be less accessible for entrepreneurs who are just starting out, prompting graduates to explore alternative sources like crowdfunding, government grants, incubator, and startup accelerator programs.

Members of Forbes’ Young Entrepreneur Council, also share their experiences and some solid advice in this Forbes article, including:

  • Create a business plan
  • Hustle and network in order to succeed
  • Picture your business like a workhorse
  • Listen to what your customers need
  • Focus on a niche market
  • Talk to those who have done it
  • Ask how you can help
  • Think long term
  • Ditch perfectionism
  • Invest in yourself

Not surprisingly, several of these pieces of advice align with the 24-steps to a successful startup that we teach at MIT with the Disciplined Entrepreneurship approach (you can read a short overview here), or check out the newly updated Disciplined Entrepreneurship book and the new Startup Tactics book by MIT’s Bill Aulet and Paul Cheek.

Impact of Mentors, Coaches, and Educators on Entrepreneurs

One thing I would stress is to make sure that you establish a strong connection with a mentor or coach – someone who can help keep you on track and provide support and guidance during your entrepreneurial journey. Established entrepreneurs can play a pivotal role by mentoring new graduates, offering insights and resources to navigate the complexities of starting a business. Coaches can help inspire you to achieve peak performance. As a certified Energy Leadership coach, I coach entrepreneurs on how they can harness their own unique energy and become a better leader. Having that mentor or coach who is separate from the day-to-day workings of your startup is a wonderful way to gain perspective as an entrepreneur.

In addition – for those who are still in school – educators are increasingly adapting their curricula to emphasize entrepreneurial skills, such as innovation, digital literacy, and strategic thinking. Incorporating real-world projects and case studies can bridge the gap between theoretical knowledge and practical application, better preparing students for entrepreneurial endeavors. Today, there are more than 5,000 entrepreneurship courses are offered in two-year and four-year institutions, according to the Kauffman Foundation, and more than 150 institutions in the U.S. allow students to major in entrepreneurship, according to Best Colleges. This is more than triple the number from two decades ago.

My Perspective

As someone deeply embedded in the entrepreneurial ecosystem, I see this shift towards entrepreneurship as an immediate path after graduation as both a challenge and an opportunity. The influx of young, innovative minds into entrepreneurship can drive significant advancements across various industries. However, it is vital to provide the right support systems to ensure their success. Mentorship programs, comprehensive entrepreneurship education, and access to diverse funding options are essential components of this support.

Moreover, fostering a mindset that embraces failure as a learning opportunity is crucial. New graduates should be encouraged to take calculated risks, understanding that setbacks are part of the entrepreneurial journey. This perspective not only builds resilience but also fosters a culture of continuous improvement and innovation.

Conclusion

The trend of new graduates exploring entrepreneurship before starting corporate jobs may signify a shift in career trajectories and workplace dynamics. By supporting these budding entrepreneurs through mentorship and coaching, education, and access to resources, we can harness their potential to drive innovation and economic growth. As educators, entrepreneurs, and thought leaders, it is our responsibility to guide and nurture this new generation, helping them navigate the challenges and seize the opportunities that lie ahead.

If you are interested in learning more about coaching sessions for entrepreneurs, please reach out at patriciacotter76@gmail.com.

An Inside View: MIT’s Intense, Week-long Entrepreneurship Development Program

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MIT beaver mascot

#MITEDP … IYKYK

OK, enough with the acronyms! But MIT’s Entrepreneurship Development Program (EDP) is one of those experiences that has that aura of “if you know, you know.”

It’s a week-long intensive entrepreneurship program run by MIT Sloan Executive Education, and this year MIT EDP included 76 participants representing 19 countries and 6 continents – and the individuals who attend become raving fans. This program is designed for aspiring entrepreneurs, corporate venture officers, startups, and those who would like to develop or strengthen a climate of entrepreneurship in their corporations, universities, and regions.

The entrepreneurial spirit runs high during the week. The days (and nights) are long as the teams of five to eight people create a tight bond while working together to create, identify, and evaluate new venture opportunities. Participants regularly describe MIT EDP as inspiring, enlightening, and even life changing. Here are a few comments posted on LinkedIn by this year’s attendees:

  • “An intense deep-dive into disciplined entrepreneurship and venture creation … Lots (!) of pivots, iterations and learnings from our primary market research led us to pitching a SaaS company focused on maximising athlete performance – not the idea we started with and far removed from my biotech day job, but I loved it! Lots of laughs along the way made for a great team spirit and an unforgettable experience. Now time to take the MIT mindset, energy and everything I’ve learned and apply it to mycoBiologics.”
    Fiona Rudkin, mycoBiologics Co-Founder and Managing Director
  • “I am honoured to return to MIT Sloan Executive Education alongside a cohort of ambitious entrepreneurs and founders on a mission to improve the world by accelerating high-growth businesses and creating high-skill jobs for the future.”
    Luis Ibarra, Founder & CEO at eCERTO

  • “When we arrived on day one, we were promised ‘the real thing.’ I nodded politely; it sounded an incredibly American thing to say. Having experienced it however, there’s something quite indescribable about being there … You talk about energy amplification, my Scottish friends will think I’ve gone all American on them, but I struggle to think of a better way of describing it.”
    Andrew Smith, Technical Director, distilling and cask management

  • “Let’s have an impact and solve the big world’s problems through entrepreneurship. Creativity is contagious! The world needs entrepreneurship!”
    David Desplaces, Director, VTLI at The Citadel

This year, my role at MIT EDP was as one of the judges, viewing the program from a different perspective than I have in the past. For three years, I was an instructor and facilitator for the Entrepreneurship Development Program, and it was always refreshing to work with seasoned professionals who are used to delivering results and can bring their life experiences to this program. (Here’s my post from 2020 which discusses some of the details of MIT EDP and its impact.)

My view as a judge was a bit different. Usually, I am involved in sausage making, this time, I was in a position to see how the finished sausage turned out. To take the analogy further, as a connoisseur versus a chef, I appreciated the outcomes of the continual learning process even more.

My perspective as an MIT EDP judge was framed by my own recent entrepreneurial experience. For the past year, I have been running a coaching business focused on energy leadership coaching. Although my prior experience includes navigating two startups through to IPOs, teaching Eship classes at MIT, and serving as director of delta v (MIT’s capstone program for entrepreneurship), applying the lessons of MIT EDP to your own business brings it all into sharp focus.

This time, I pressed a bit deeper to see how the teams thought about their businesses. If they were going to start with an idea, did they apply the key concepts of Disciplined Entrepreneurship to that idea? For example: Who are the first 10 beachhead customers you are going to target? Have you considered the burdened salaries of the team of engineers you are planning to hire? Does this technical solution deliver enough added value for customers over existing approaches to solve the problem?

In the course, the process of learning a concept, applying it, and reinforcing it through coaching is designed to simulate the experience of a startup company seeking funding. As participants are taught in the course, the judges want to understand the assumptions the groups made, and these teams were well prepared by the end of the week. A key concept that I use in energy coaching is “how you show up matters,” and these teams showed up with their best energy.

The final day of MIT EDP culminates in a competition that reflects the MIT “mens et manus” (mind and hand) approach to learning by providing both the theory and reinforcing it with the practical. Ideas in the competition ranged from Urgent Care AI to creating a plug for casks to monitor volume – the ideas were terrific, as was the demonstration in applying the concepts. A dozen teams competed with a 10-minute pitch and a 10-minute Q&A session in the first round. This was then narrowed down to four finalists. I’m not going to call out the winner here, because the stakes aren’t high, and I truly believe that winning is in learning and applying the process with a team you met less than a week before. (But, the lucky winners did get autographed galley copies of new entrepreneurship books from Paul Cheek and Bill Aulet.)

The MIT EDP program fosters entrepreneurial skills and an entrepreneurial mindset among participants, but the lessons apply across the board. Corporate leaders often need to be immersed in an experience where you are learning and applying new ideas in a team with people you just met. The EDP experience made me think of how this intense, immersive type of experience would be ideal for onboarding new employees, helping teams to gel faster, and accepting newer players and their ideas.

So, whether you had the opportunity to attend MIT EDP or not, I encourage you to take the plunge and be open to new experiences. Create a space where you can identify new opportunities, experience different ways to work, learn new skills, and embrace your passions.

If you’re an entrepreneur or corporate leader, and would like to learn more about how energy leadership coaching can help you to recognize your unique energy and harness it to lead more effectively, please reach out.

I hold coaching certifications from both iPEC and ICF.

How Are You Showing Up? A Primer on Energy Leadership

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You bring your unique energy to how you show up each day – at home, at work, and generally in life.

This is especially important for leaders – both entrepreneurs running startups and managers leading teams in corporate enterprises. As a leader, you knowingly or unknowingly influence others, and this presents the opportunity to inspire and motivate your team.

This article will focus on Energy Leadership™, a concept I discussed in my presentation at the Association of Talent Development’s ATD ’23 conference on how to Think Like an Entrepreneur and Foster Creativity in Your Organization.

When you show up with your best energy, you can encourage your team to recognize and harness their own energy, feel a greater sense of purpose, and get more done with much less effort and stress. So, let’s delve into more detail on Energy Leadership.

Energy Leadership

“Energy is contagious; either you affect people or infect people,” says bestselling author and businessman, T. Harv Eker. When you realize how many people you interact with each day, you begin to realize how powerful your personal energy is.

The interesting thing about energy is that it can be both anabolic and catabolic. Both energy levels serve you daily, depending upon your lived experiences. Here is a brief overview of each:

  • Anabolic energy is associated with a constructive buildup force and less stress. With anabolic energy, it is easier to focus on solutions and tap creativity and experience for a complete and conscious view of situations. People have more access to this energy, with less judgment and less fear about themselves or situations – anabolic energy is essentially constructive, fueling, healing, and growth oriented. A leader with anabolic energy is collaborative, fuels creativity and productivity.
  • Catabolic energy, on the other hand, tends to distract you and pull your focus away from what you are doing. It is typically draining, resisting, and contracting energy. Yet, it serves the important purpose of self-protection, especially when experiencing uncomfortable situations. A leader with catabolic energy can use this energy in a time crunch or dangerous situations to address a particular situation. However, catabolic energy can be depleting and stress levels raised so the longer term effects are not positive. Think of it as being in continual fight or flight mode. 

In practice, a catabolic leader and anabolic leader may look like the following:

Neither type of energy is good nor bad, but an ambidextrous leader can adapt to the situation to create a better result.

The first step is to understand your personal Energy Leadership profile. This is done through an attitudinal assessment and can be used as a starting point to uncover how your energy can be harnessed to reach your goals and help you to lead more effectively.

So, how do you assess your current Energy Leadership?

The Energy Leadership Index (ELI) assessment tool, developed by the Institute for Professional Excellence in Coaching (iPEC) measures your unique energy profile. Through a series of 84 questions, the ELI reveals the percentage of each energy level you experience under normal circumstances and how your energy manifests under stress.

The 7 Levels of Energy

There are seven energy levels, each with a thought, emotion, and action attached.   Daily, you may operate on just a couple of levels or many, but this tool focuses on understanding where you are. 

Your individual results of the ELI assessment come in a sample like the chart below. This represents your average energy presentation under normal circumstances and under stress.

Everyone has a different ELI, which uniquely reflects their lived experiences. Through the debrief with an ELI Practitioner, you bring an awareness of how you show up. In the debrief, you go through your particular energy levels and find experiences that serve you well and others that do not. The tool’s power is recognizing your level and the ability to change the level and gain a better experience. The ELI tool, which can be used with individuals or teams, has a low entry bar, and it could pay significant dividends for leaders.

New Working Styles Benefit from Energy Leadership

The new normal of remote, hybrid, and in-person working styles has brought challenges for leaders. We are currently at a crossroads where workers value the flexibility of work from home options, but in many companies, management is dictating a return to the office, or hybrid approach. This puts a lot of pressure on team leaders. As mentioned in a previous blog post, speaker, author, and facilitator Priya Parker talks about gathering with intention for meetings (or classes), along with bringing an energy that meets the needs of the situation. If you are responsible for gathering and communicating with your team, consider your intention and your energy; the benefits could be significant.

How skillfully can you lead daily? An Energy Leadership approach will identify where you can adjust to having more experiences that better serve you and your clients, and it extends beyond the realm of work to your family and loved ones as well.

In one of the sessions at ATD ‘23 by Zenger Folkman, it was discussed that with more experienced leaders, coachability decreases. (Yes, that says “Coachability” on the left axis, my camera skills attest to capturing this during a live session!)  Senior leaders have been through a lot of training and I suggest the ELI assessment as a tool that could provide new insights into how they are leading today.  

In summary, embracing Energy Leadership can inspire peak performance from individual employees and transform the culture of organizations. A key element to Energy Leadership is that we are all leaders, every day, in every area of our lives. Energy Leadership can help individuals skillfully lead when interacting with others.

Further reading: Should I work with an Energy Leadership Coach?

Learn more at https://www.energyleadership.com/ or reach out to me at patriciacotter76@gmail.com or pcotter@mit.edu