To be an effective manager, you need to be skilled at giving out both praise and criticism. While praise is easy to give, it is far more challenging and unpleasant to criticize your employees. Yet the practice of management requires you to occasionally show employees where they need to improve. Thus, it is vital for managers to learn how and when to give negative feedback.
Imagine that an electric company wants to build a loud, ugly power line on your property. They ask, “How much would we need to pay you to make this happen?” You’d probably demand a lot of money.
Now imagine that that power line already exists on your property. How much would you pay the electric company to get rid of it? Would you pay the same amount — or less?
My students frequently ask me how I planned out my career to become president of Fidelity Investments. I always tell them, “There was no grand plan; I backed into my career one step at a time.”
Written documents are how professionals convey their ideas to the peers, clients, and bosses. This means that professionals need to be skilled writers if they want to get ahead.
Unfortunately, I often find that even the smartest, most talented professionals lack the requisite writing skills. Here are my three most important lessons for getting better at business writing:
Public speaking can be a challenge for fund industry professionals. When they give a speech, they are putting themselves in a vulnerable position as the sole object of attention in a large group of people. However, the risks help underscore why public speaking is tremendously important. It provides mutual fund professionals with an opportunity to persuade clients or colleagues.
By Kelly Johnson.
Of all the intriguing details Michael Lewis revealed in his Vanity Fair profile of President Obama this month, the bit about the suits sticks with me. The president wears either blue or gray. With so many high-octane decisions to make each day, why waste even a moment lingering at the closet (or the tie rack or the sock drawer)?