Tag Archives: higher education

A Customized Learning Opportunity: Coaching in Executive Education

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Coaching, in general, is best for those who are truly invested in transformation. When coaching is integrated into executive education programs, it can provide a premium and personalized experience that bridges the gap between theoretical concepts and practical application. Over the last few weeks, I have been coaching in a few of MIT Sloan’s Executive Education Programs.  And although coaching is not built into every executive education program, when personalized coaching is offered, it can provide a customized learning opportunity that guides participants on how to apply what they are learning to their own unique situation. This process not only enhances retention but also empowers executives to implement changes in their organizations with confidence.

For instance, a participant in an executive education program might work with a coach to develop a plan for implementing a new organizational change model after an in-class presentation.  The coach helps them tailor the model to their specific context, considering factors like company culture and team dynamics. This personalized guidance ensures that when the executive returns to work, they have a concrete, actionable plan ready to execute. Coaching also plays a crucial role in addressing specific challenges executives face in their roles. Whether it’s navigating team conflicts, finding their leadership voice, or developing new strategies, individualized support from a coach can make a significant difference. It’s about acquiring skills for the future and moving on to the next challenge with confidence and clarity.

I have participated in executive education programs at MIT, Northeastern, Babson, Harvard Business School, and the University of Pennsylvania that have profoundly impacted my skills and knowledge. My experience with these programs has taught me the value of technology, culture, leadership skills, and team dynamics. Each course has provided new tools and perspectives that I have applied to my work, constantly striving for personal and professional growth. Throughout my career, I have seen firsthand the transformative power of executive education, and in my current role coaching senior executives and entrepreneurs at MIT, I’ve experienced how a coaching element in executive education strengthens the entire program.

The Executive Coaching Experience

At its core, executive education is designed to equip leaders with the skills, knowledge, and insights necessary to navigate complex business challenges. Individuals and companies alike seek out these programs for various reasons—whether it’s to stay ahead of industry trends, prepare for organizational changes, or simply to gain a competitive edge. But beyond the curriculum and the esteemed faculty, I believe the real transformative power of executive education often lies in the coaching component.

Here are some real-world reactions I’ve encountered when coaching executives, and how I’ve been able to work with participants to help them gain value from the coaching experience:

  •  “You have my DISC and 360 Assessment [self-awareness tools used in coaching]. Tell me where I need to improve.” 
    When a participant approaches coaching like this, my response is that coaching is all about showing up with a critical eye for yourself and improving your performance overall. No coach can tell you exactly what you need to do, but coaching can help you unlock areas where you can grow as a leader.
  • “What I am learning in the classroom is great, but what I really need is help figuring out what I do next because the current situation at work is not working.” 
    This is where coaching can shine. When an executive realizes they can reinforce their classroom experience with customized work that applies to their specific situation, they are two steps ahead and can more effectively integrate their learnings into their organization.
  • “I am taking the class, and I don’t see anyone of my level that I can connect with.”
    Hearing this type of comment makes me think that an executive was recommended to the program and may not have made the decision to attend themselves. They have some work to do on their leadership style, and I would encourage a participant like this to be more open to what they can learn from others, as well as offering their expertise for others to learn from them. 

Coaching has been proven as an effective support mechanism for learning. Research indicates that traditional training methods are often insufficient for long-term retention and application of new knowledge.  However, active learning approaches, which include coaching, can dramatically improve retention. A 2022 study revealed that active learners retained 93.5% of information after one month, compared to 79% for passive learners. This underscores the importance of incorporating active learning strategies, such as coaching, into executive education.

Conclusion

Within the MIT Sloan Executive Education programs and my own coaching practice, I see the impact of coaching every day. Participants emerge from programs and coaching not just with new knowledge, but with a renewed sense of purpose and the confidence to tackle their most pressing challenges. The one-on-one aspect of coaching, combined with the collaborative team projects, creates a rich, engaging learning environment that truly transforms these leaders.

As we continue to navigate an increasingly complex business landscape, the role of coaching, whether in executive education, in corporations, or through self-discovery becomes more impactful.  By providing personalized support and fostering an environment of active learning, coaching helps executives retain and apply new knowledge, and drives meaningful change within their organizations. It’s an investment in the future success of these leaders and the success of their companies.

In addition to coaching for MIT Sloan’s Executive Education programs, I also provide one-on-one leadership and entrepreneurship coaching for individuals. If you are interested in learning more, please contact me at Patricia Cotter patriciacotter76@gmail.com.

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.

What is Disciplined Entrepreneurship? A Short Overview for the Uninitiated.

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When I recently presented at the Association of Talent Development’s ATD ’23 conference, our session was focused on how to Think Like an Entrepreneur and Foster Creativity in Your Organization. This was geared to help learning & development (L&D) professionals take lessons from entrepreneurship and apply them to their organizations.

One of the topics that we touched upon was Disciplined Entrepreneurship. The Disciplined Entrepreneurship approach was such an important and ingrained part of the entrepreneurship program at MIT, that I had to step back and realize that this was new information to most of the ATD ’23 attendees. (In fact, I’m currently preparing materials to teach Disciplined Entrepreneurship content via a partnership between MIT and Dalhousie University in Nova Scotia.) 

Since I had a lot of follow up questions on Disciplined Entrepreneurship, I thought I’d give a little more background on the approach and how it works in this blog post. Disciplined Entrepreneurship – or DE as we like to call it – is an approach to help you think about how you start to get your product or service to move forward.

This methodology assists the start of an entrepreneurship journey, and Bill Aulet, Managing Director of The Martin Trust Center for MIT Entrepreneurship, has documented this in his Disciplined Entrepreneurship book.  This is a great place to start if you are looking for an accessible and methodical approach to entrepreneurship. (Plus, the illustrations are fantastic!)

Source: Disciplined Entrepreneurship

The focus is that entrepreneurship can be broken down into 24 steps based on six themes. The discipline comes in by following these steps.

Six Major Themes of Entrepreneurship

As you’ll see in the DE map, the themes are color-coded. The six themes are:

  1. Who is your customer?
  2. What can you do for your customer?
  3. How does your customer acquire your product?
  4. How do you make money off your product?
  5. How do you design and test (prototype) your product? and
  6. How do you scale your business?

(This process does not include sales, sales tactics, marketing, raising capital, team building, etc. but if you are thinking about a venture this is a good place to start.)

De-Risking Your Venture

A disciplined approach focuses on de-risking the venture by understanding your customer’s needs and providing value, so they become paying customers. It will help you establish your business and understand how customers are going to find you (along with where you will find your customers). You also need to thoroughly understand how you will make money (renewals, add-ons, etc.).

The book takes you takes you through important steps that are often overlooked – like hypothesis testing and concept validation. It also talks about how you need to focus on designing a prototype or minimum viable product (MVP), as well as how you are going to scale.

People think it is risky to be an entrepreneur. Yet, as discussed in the ATD23 session, an entrepreneur is adaptable and willing to focus on a core group of customers to build the business rather than trying to be everything to everyone.

How do you start?

Start with the first theme—what problem are you solving and for whom? You need to move from concept through qualitative interviews (talk to humans), then quantitative research if required. Find a core group with a message that resonates and a problem you can solve; this is problem research.  

If you start with an open-ended question about what you do on a typical day? Ask open-ended questions (Tell me more? What about that product or service that is going well? What is not? etc.). There is a free e-book online called Talking to Humans by Giff Constable that can help with this. This is a process that continually refines and tests your hypotheses. Your primary market research (PMR) will help you understand your potential customers’ pain points.

Giff also has a book (another short read) called Testing with Humans.  At the end of the problem research, if customers didn’t mention the problem that you are building or providing a solution to, then move on to others, and if you can’t find your core, you may want to revisit your core assumptions.

Once you have a core that has the compelling problem then work with that set to review potential solutions. You then will move to what value they will achieve from your solution so you can gauge purchase intent.  

As you explore entrepreneurship further, make sure you are thinking from a global perspective. My ebook on Startup Accelerator Programs Around the World can help entrepreneurs find accelerator resources, with a focus outside the US.

This blog post presents a quick overview of Disciplined Entrepreneurship that gives a little more information that was possible in my session, but there are many resources for you to delve into further.  For those looking for ideas and ways to potentially introduce entrepreneurship ideas into their corporation, there is a short blog explaining the four models of corporate entrepreneurship and a more in-depth article from MIT on the four models.

More Entrepreneurship Resources

For further reading, viewing, or participation, here are some additional resources on entrepreneurship:

Taking a Well-Deserved Break … and What I’ve Learned

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Recently, I left my job at MIT, and I don’t have another job. As the Executive Director of the Martin Trust Center for MIT Entrepreneurship, my days (and many nights) were filled with activity – working with students, teaching, and shaping entrepreneurship education programs. All that has stopped, and I’ve taken time to be still, breathe, take stock, and think.

This time of reflection is providing me a much clearer view of what is possible—and realizing the big picture is even bigger than I thought. Quitting your job is not for everyone (and I am very fortunate that I’m in a position where I could do that), however, taking time to make room for other activities is something I highly recommend to everyone. Creating space to see that there are other opportunities, different ways to work, new skills to learn, and passions to embrace is enlightening. (My new passion is tennis! Who knew?)

I have had three acts thus far in my career. I held roles from engineer to executive in tech companies. Then, as an entrepreneur, I navigated two startups through to IPOs, and my third act was a career in academia teaching entrepreneurship in the classroom and through hands-on programs. Each transition had its moments where I said, “What did I get myself into?!” Yet, digging in and being open to learning proved to be rewarding in every case. I’ve had great rides with successful companies, enjoyed relationships with diverse and interesting colleagues, and embarked on learning experiences I could never have imagined. I have traveled the world, thrived in new environments, and have seen colleagues soar and cheered on their success. I’ve learned so much about people and how they think, work, celebrate, and come back from setbacks. It makes you realize that the people you work with truly can make or break any job experience.

As someone with many, varied job experiences, I’ve realized that experience is double-edged sword. On the one hand, you know how to do things, and perhaps you have even forgotten what others have not yet learned. However, experience also can leave you in a lane you know too well and prevent you from taking the risk of trying—and potentially failing—at new skills. When you are starting fresh, you know there will be new risks, new failures, and new experiences.

I am extremely fortunate to have enjoyed every job I’ve had, but I do realize my enjoyment of work is dependent on my own attitude and approach. Approaching each new role as a learning experience helps you get over the hurdles and enjoy the successes. I’ve worked with folks who had deep expertise but lacked some of the skills I have, and we ended up being a terrific team. I am fortunate to have friends from my very first job and from my most recent job, and I make a concerted effort to keep in touch with these people. My network—and talent tree—is something that was built organically with people I enjoy, and it makes a career so rewarding.

In my research findings for my doctorate, it wasn’t a real surprise that matching new graduates with seasoned employees in data analytics roles was a recipe for success. The veterans could contextualize situations for the students based on experience, and the recent graduates would apply that context to achieve a much more robust analysis. Later, my work at MIT included building mentorship programs and creating networking relationships between students, alumni, and startup founders. When I was no longer running these programs, I realized I needed to apply my networking and mentorship skills to myself as well.

Although I am a certified professional coach, it’s true that even coaches need a coach. If you want to do something different and are unsure about how to get there, working with a coach is a perfect way to figure out these decisions. I needed a coach to look at why I was working so hard; although I enjoyed the work and the people, it didn’t feel like it was enough for me at the time. My coach helped me realign my values and aspirations—something that had not been done for quite some time.

I have always been curious, optimistic, and a contributor, but I needed more balance, less commuting (yes, I still commuted through most of the pandemic!), and a good challenge to be passionate about. The first two were difficult to manage in my last job, but there was no lack of challenge, in fact, there were actually too many challenges! I spread myself so thin because I wanted to do everything and for everyone—and this led to an erosion in my passion for my job.

So, as I take time to reflect, I’m betting on myself and focusing on balance. Just creating the space to reflect has let me think about of all sorts of exciting things I can do next, both professionally and personally. I am enthusiastic about the future and approaching new challenges with the renewed energy that taking a break has given me. I hope my story inspires you to give yourself some space to think, reflect and renew!

MIT Study: Entrepreneurship Education delivers Value beyond Startups

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At MIT, the delta v accelerator is our capstone entrepreneurial experience for students. As educators, we always want to know what students gained from our programs and how it helped them in their post-MIT life. We recently interviewed delta v alumni to understand how their entrepreneurship education has had an impact on their life, and we wanted to share the findings.   

We reached out to over 400 delta v alums from 2012-2019 with 60 responses.

87% Consider Entrepreneurial Skills a Core Competency

Slightly more than four out of five survey respondents currently consider themselves entrepreneurs. However, the vast majority of alumni (87%) view entrepreneurial skills as a core competency by 87% of respondents – rather than just a means to start their own business. These people may be creating their own ventures now, but they may transition throughout their careers between entrepreneurship and other roles. It’s important that these entrepreneurial skills will support them in either situation.

Respondents consider who consider entrepreneurship a core competency credit both the MIT program as well as the importance of hands-on experience to develop their entrepreneurial skillset. Many also noted they view entrepreneurship as a set of skills that must be honed through practice.

Entrepreneurship is Seen as an Important Part of People’s Identity

Many alumni view entrepreneurship as a way to solve important problems and pursue their visions. Entrepreneurship is the lens through which they approach these challenges and visions, with 62% of respondents reporting that an entrepreneurial outlook is an important part of their identity.

However, a select few respondents see entrepreneurship as a strict occupation, and not a core part of their identity. Others described themselves as entrepreneurs within their specific field or company, for example, an “entrepreneurial scientist.”

92% Say MIT Entrepreneurship Classes Support their Current Role

The classwork that delta v alumni participated in has proven to be on target. A full 92% of respondents either strongly agreed or agreed that what they learned in MIT entrepreneurship classes supports their current role, even if they are not an entrepreneur today.

Specifically, delta v alumni said the skills learned in the classroom help them in the following situations:

  • It gave me a playbook when I have to do things I have not done before.
  • I use what I learned at MIT every single day, in working with my team, financial planning/strategy, product development and management, and making sure I am looking at the right problems, in various different ways.
  • I focus a lot on management – and classes in particular help understand people and teams.
  • I need to assess new technologies according to their business promise and their technical risks.
  • I can more effectively voice my concerns and disagreements.
  • I can think about problems from a variety of different angles – rather than just technically.
  • The classwork provided a structured approach to innovation.  
  • The presentation skills and network taught in delta v are still used to this day.

Entrepreneurial Skills are Marketable

Respondents feel that the entrepreneurial skills they learned while at MIT are marketable with 79% strongly agreeing or agreeing with that statement. They feel that:

  • The skills are an asset in their current role (86%)
  • The skills will be an asset in their future roles (68%)
  • The skills will help them in landing a future job (37%)

Some of the general entrepreneurial skills respondents bring to the table include customer identification/market research, Identifying competitive positioning and use cases, product design, business modeling, and scaling a business.

MIT’s entrepreneurship courses benefit participants by providing frameworks, structure, and discipline to their ideas. It also gave them opportunities to test out ideas and take risks, iterating those ideas in a supportive and knowledge-based environment. Many respondents mentioned the supportive delta v ecosystem and cohort, providing mentors in the entrepreneurship community and a network that gave the entrepreneurs confidence.

One of the delta v alumni sums it up nicely, saying:

“delta v gives people the opportunity to create transformational value in society. It gives young people the tools and skills they need to make that happen. The future rests on the next wave of entrepreneurs to bring about that change and growth.”

Giving Thanks for the Essence of Entrepreneurship

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Recently, I spent time in Zurich, Munich and Milan meeting with MIT alumni, in the hopes of gaining philanthropic support for the programs run by the Martin Trust Center for MIT Entrepreneurship. As I talked with our alumni in these cities, it made me think of the Entrepreneurial Philanthropy practice put forward by lifelong entrepreneur and philanthropist, Naveen Jain. His promise is that philanthropy is at its best when it is founded on entrepreneurial zest and agility.

Naveen Jain states in a Huffington Post article, “True philanthropy requires a disruptive mindset, innovative thinking, and philosophy driven by entrepreneurial insights and creative opportunities. To disrupt the status quo, drive philanthropy at tremendous scale, and develop long-term economic vitality through giving, we must apply the same models for success in our philanthropic endeavors as we do in business.” I could not agree more.

MIT students are fortunate because they are encouraged to work on problems, projects, and ventures that will positively impact the world. During their journey, they are provided support through tailored classes, mentorship, access to Makerspaces, extracurricular programming, and competitions that offer opportunities for the application of learning and assessments. MIT alumni play a significant role in student support whether it is through mentoring, episodic coaching, programmatic support, introductions, or financial support.

Martin trust centerThe Martin Trust Center for MIT Entrepreneurship continuously finds new ways to encourage, advise, and champion aspiring entrepreneurs as they take new ventures from idea to reality. The Center’s goals are high, as are its needs; it provides the most innovative opportunities for learning and expands MIT’s global entrepreneurship ecosystem, but it depends on the support of philanthropic partners.

However, as I visited these cities, I had to ask myself – how do you raise funds to sustain entrepreneurship programs in a global environment that does not embrace it as a serious area of study, or in cultures where education is not necessarily the place you would direct your philanthropic funds, or where risk is not rewarded? Although entrepreneurship is part of our culture of innovation here in the States, it is viewed through a different lens in different cultures, as I learned in the Nordics earlier this year.

MIT alums think broadly. The people with whom I spoke on this trip are thinking about how to attract talent, innovate companies, inspire creativity – and they want out-of-the-box ideas for their communities. We had some spirited debates during our discussions as to the benefits of entrepreneurship to their particular ecosystems. The most common misconception was that entrepreneurship is about embracing repeated failure. However, I would argue that at the Trust Center, we try to mentor and guide students so that they are not repeating the failure of others. Our measure of success is that the student learns the skills to start their own businesses and that they self-identify as entrepreneurs. This lets them take risks while they’re here – ahead of the VC stage.

When I started in business out of college, it was a different time. Companies like Honeywell, IBM, HP, etc. all had training programs that cross-trained new graduates. That experience is not as prevalent today, and startups are a great way to get hands-on experience across multiple disciplines. As my expertise moved from engineering to manufacturing to service to sales operations to logistics to senior leadership etc. there mitsealwere always a willing set of mentors who helped me at critical points – for this, I am very thankful. At MIT, we teach a Disciplined Entrepreneurship approach – an approach I have seen work in practice. We have over 60 courses that provide the MIT “mens et manus” approach of mind and hand. Like my apprentice programs years ago, MIT offers hands-on programming to help students understand what working in a new business venture is like and teaches skills of finance, legal, marketing, sales, etc. with industry experience in biotech, healthcare, energy, fin-tech, and other industries.

For many of the alumni, these programs did not exist when they were at MIT. However, in speaking with them, they are confident in the educational and hands-on experiences that are available now to MIT students. Several alums said they would love to go back and be a student now. (Wouldn’t we all!?) Although the world is a different place now than even five years ago, the Trust Center keeps abreast of these changes as evidenced by the success of our MIT delta v teams. Our students are the pulse of change in the world.

Supporting an institution like MIT – and centers such as the Martin Trust Center that provide entrepreneurial programming – creates a workforce that has cross-disciplinary experience.

Demand for delta v has grown, while our budget has not increased for the program. We need funds to support these deserving student teams. As our success becomes public, so does the demand for our product, and increased resources enable us to teach others to become entrepreneurs wherever they are located. We cannot do it without a community and the philanthropy that will plant the seeds, so our students can positively impact the world.

 

How Imposter Syndrome Affects Our Best and Brightest

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psychology-1957264_1920I heard a statistic the other day that 70% of people admit to feeling like an impostor at some point in their lives.* I work with students at MIT – one of the most prestigious universities in the world – and although it attracts the best and the brightest, college students at institutions like this are even more prone to suffering from insecurity.

A former student and I were discussing her experience at MIT and she said she completed her degree in three years – not because she was smarter than the other students, but because she felt someone would find out she didn’t belong there. Wow. And it continued when she went to Harvard Business School and felt the same insecurities. Today, this woman is a successful entrepreneur, but taking risks has never come easy for her.

Imposter Syndrome is a real thing. Although it is not an official clinical diagnosis, Scientific American classifies it as “a pervasive feeling of self-doubt, insecurity, or fraudulence despite often overwhelming evidence to the contrary. It strikes smart, successful individuals. It often rears its head after an especially notable accomplishment, like admission to a prestigious university, public acclaim, winning an award, or earning a promotion.” Interestingly, minorities and women are hit the hardest. Facebook COO Sheryl Sandberg, Oscar-winning actress and Harvard alum Natalie Portman, and Starbucks CEO Howard Shultz all admit that they suffer from Imposter Syndrome and share their stories here.

Fake It Until You Make It

Those who suffer from Imposter Syndrome will probably shudder when they hear the words “fake it until you make it,” but sometimes this can be the best approach. For instance, there is a lot of research that says men will apply for a job when they typically meet only 60% of the qualifications, but women only apply if they meet 100%. This is the type of “fake it until you make it” approach that gives you a chance to level the playing field and prove yourself. The most prominent fake role, in my opinion, is parenting. You may have babysat for children and thought, “I can do this.” However, it is not until you have 100% responsibility for a child that you are aware that you are faking it. Yet we adapt, learn from our mistakes, and become better parents.

Deep Stealth Mode

My boss often talks about his first startup company being in a very “deep stealth mode” – meaning it failed. It failed, but is he a failure? Of course not. Today, Bill Aulet heads up the Martin Trust Center for MIT Entrepreneurship and he’s an accomplished professor, speaker, and author. He learned that each risk he took – and continues to take – makes him stronger. The book Antifragile by Nassim Nicholas Taleb discusses that although fragile things break under stress, there’s an entire class of other things that don’t simply resist stress, but actually grow, strengthen, or otherwise gain from unforeseen and otherwise unwelcome stimuli. There are some benefits from stress, disorder, volatility, and turmoil that may allow us to not only survive but flourish.

If you fail at a job what is the worst that can happen? You may get fired. Yet, the sun does come up the next morning. You figure out what happened, and hopefully, what you’ve learned. Then you can address the problem and try again. The key is the reflection and the learning but also taking the risk to try again. So why do most entrepreneurs fail a few times before they get it right? It may be that they are doing things that have never been done before. In some instances, they may not have the necessary skills. But the question is, can they learn or surround themselves with the right people to move forward?

Advice for Overcoming Imposter Syndrome

Going back to the story of my former MIT student; she looked to her mentors when she was faced with a decision to go out on her own and start a business. I could see that it was a positive step for her and knew she would do well. She struggled to make the decision, but we helped her through the process and assured her of her strengths. Ultimately, the decision was her own, and the leap was significant. She now has a thriving business and influences many people with the work she does every day. So what did we tell her?

  1. Be open to the possibilities.
  2. Find joy in what you do.
  3. Be open to change and learn.
  4. Learn from both failure and success, and let them make you stronger.
  5. Be a disciplined entrepreneur.
  6. Surround yourself with a board of advisors.
  7. Enjoy life!

The Scientific American article suggests two of the ways to overcome Imposter Syndrome are to choose a mentor (the way she chose to work with the Entrepreneurs in Residence at the Trust Center) or become a mentor. Becoming a mentor lets you gain perspective, share what you know, and nurture others.

I have grown through the ranks at large companies, completed entrepreneurial stints at two startups, and now I’m in education, guiding new entrepreneurs. Each move was, in my opinion, a risk with challenges, new people, and new technology. However, if you are lucky, you will have a long life with lots of options. I can tell you first hand it is much more meaningful to want to learn, from mistakes or circumstances, but it’s also important to know that even if I fail … I can start again.

*Statistic attributed to the International Journal of Behavioral Science

Find Your Voice, Own Your Narrative, and Help Your Mentor Help You

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In today’s society, there is an awareness that diversity is important not only as a concept, but also for real bottom line improvements. While this is good news, there is still a long way to go. I recently had the privilege of joining a panel that discussed the successes and challenges facing women in terms of equal pay, gender parity/blind bias, and upward mobility.

“Press for Progress” was sponsored by The Boston Club and held at the offices of Ernst & Young. First, my thanks to our moderator, Tara Alex, an Insurance Partner at E&Y, and my fellow panelists: Linda Rossetti, social entrepreneur and board member; Agnes Bundy Scanlan, who is on multiple boards and an advisor at Treliant Risk Advisors; and Jane Steinmetz, the Managing Principal for E&Y’s Boston office.

The overall feedback from this panel is positive – there is more focus on improving gender parity today, and sponsorship is key to that improvement. When you have a sponsor, someone is advocating for you; they have your best interests in mind and can recommend you for important assignments. The other key takeaway is the importance of having multiple women and minorities in the candidate pool for new hires.

Gender Parity and Sponsorship

The panel provided actionable advice both for women trying to get ahead and for their mentors. It was clear from the panel’s experience, as well as the audience’s, that each individual’s journey is personal and gender parity mandates don’t work. Because each experience is different, the power is shifted to the employee to own their experience and make the most of it. Employees need to leave “breadcrumbs” along the way so that when opportunities arise, the managers making the decision know what you have accomplished. Whether it is seeking a board seat or a new career path, if no one knows what you want (and you have not networked to get the message out) then it will be difficult for the hiring folks to find you.

An interesting Harvard Business Review article by Stefanie K. Johnson, David R. Hekman, and Elsa T. Chan delves into the statistics around the number of diverse candidates presented and its impact on selection. Titled “If There’s Only One Woman in Your Candidate Pool, There’s Statistically No Chance She’ll Be Hired,” the article’s premise is that people are invested in maintaining the status quo. That means if two men and one woman are presented as equally qualified, employers tend to hire a male. The panel discussed making the candidate pool richer with more women and minority candidates, and how this could shift the odds.

The women on my panel have all played a sponsor role in their organizations. They talked about looking at a slate of candidates and finding opportunities to position them, so they are ready for the next opportunity. But this can only be done if the sponsor is aware of what you want and desire as a potential job candidate. This requires you as an employee to own your narrative, find your voice, identify what is of value to you, and link it to the organizational purpose.

Taking Risks

It is also clear that women often wait until they are fully qualified for a job before they apply for it, whereas men are more likely to take a risk and sell the vision of what they can/will do. IBM CEO Ginni Rometty states, “I learned to always take on things I’d never done before. Growth and comfort do not co-exist.”

With each risk you take, you build confidence. The first risk is the toughest, and if you’re successful, each subsequent risk is easier. Changing jobs is scary, but this lets others perceive you in a different light and provides momentum to your career. Even if you fail, you will realize what the issue was – wrong organizational fit, skills mismatch, more travel than you understood it to be, etc. – but by taking the risk you’ll be better prepared for when you make the next decision.

Upward Mobility

Pay parity and advancement were topics of particular interest to women who take an extended parenting leave and then return to the workforce. The panel’s advice was that you need to align yourself to market value, not your former salary. Do the work, find the data, and present your case. Today there is more transparency in salaries with sites like Glassdoor, so use this to your advantage. Remember, it is much costlier for your employer to lose you as an employee than to provide you a market-value salary. Also, step back and look at patterns. If you have seen other people’s careers go off track, this is where you must convey your own narrative to decision makers and voice your expectations about what you need to make it work.

Another point women should consider as they negotiate salary and benefits, is that silence is OK. In fact, it is often a powerful negotiation tool, so use it to your advantage. One final point is that you don’t have to do a job the way your predecessor did. Make it your own. If your family obligations don’t allow you to be out every night of the week, then figure out what does work for you and own it.

Further Diversity Research

I looked further at the research and the Harvard Business Review has a series of articles on the latest studies in diversity. One article by Evan Apfelbaum, titled “Why Your Diversity Program may be Helping Women but not Minorities (or Vice Versa),” looks at the problem of lumping women and minorities into one bucket. “The fact is that 40% of women make up all employees in a professional setting, whereas black women and men by contrast rarely comprise more than 5% of employees in these same settings.” These statistical differences affect how concerned people are with “sticking out” as representatives of their group. While the “value in difference” approach may energize groups, like white women, the very same message may, ironically, undermine groups who are represented in smaller numbers, like black women and men.

In the end, business is conducted by people and the way to enhance performance and decrease turnover is to provide all groups the same opportunity to succeed.