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Career Management

Mini-MBA: Buzzwords, Clichés, and Business Terms

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TTP - Time to Placement: The length of time from when you are laid off (or resign, or lose your job) to placement in a new, comparable position. Depending on the duration, it may seem as devastating as thrombotic thrombocytopenic purpura.

Time Is Our Friend - Spoken when advance planning or starting early on a project. For example, creating a "Plan B" for your career, updating C.V.s and resumes, expanding your contact network before you are in the jaws of a crisis.
 
Transparent, Transparency - Open, visible, accessible, publicly accountable. Without privacy or secrets. "Our actions need to be totally transparent to our shareholders.

URL (Uniform Resource Locator) - The address you type into a browser to find a website. Looks something like this: http://www.cover-letters.com. And it’s pronounced U-R-L.

USB (Universal Serial Bus) - The way you connect flash drives and other peripherals like cameras, phones, and printers to your PC. "Does your computer have a USB or will you need to use a serial cable."

Value Proposition - The marketing argument that describes why a company should hire you. Low price, high profitability, repeat patents, documented accomplishments, historical successes, timesavings, and unique skillsets can all be part of a value proposition.

VC's, Venture Capitalists - Entrepreneurs who fund risky early-stage technology companies with a view to growing the companies rapidly, selling out, and getting a high return on their initial investments. Sometimes called "Vulture Capitalists" for their bottom-line, dollars-only orientation.

Visioning - Instead of "brainstorming," it's now visioning. Same circus, different clowns. "We need to have a visioning session to re-launch the product."

Wandering Generality - A job candidate with vague or conflicting goals and objectives. See riding your horse in all directions.
 
Want To - The deep desire to pursue a career direction. A person can be highly qualified or heavily experienced in an area, yet not want to pursue it. Others can accomplish the near impossible if they really want to. Example: a student who is turned down by eight medical schools, so goes to Guadalajara, learns Spanish, takes an equivalency test, then completes his clinical rotations at a medical school in the U.S.
 
Watchers Watching the Watchers - Having to gain the approval of many others or several layers of bureaucracy before making or implementing decisions.

Webinar - A meeting or seminar conducted on the Internet. Materials are online and the speakers use a chat room to talk with attendees. Some webinars employ Web cameras and video. "Once you come on board, we need to get you on a webinar to get you up to speed."

Wet Signature - An original signature. The old-fashioned kind, written in ink on a real piece of paper. 

What Goes Around, Comes Around - A business cliché saying that if you treat people well, that goodness will come back to you. Conversely, if you treat others poorly, it will eventually catch up to you, and you may be shunned, abandoned, or humiliated in a time of need. See quid pro quo.
 
Whiteboard - Brainstorming by listing ideas on a large write-on/wipe-off board. "Let's whiteboard your expectations and our expectations to see if we have a match."

Widow-Maker Position - A job that defeats two competent people in a row. It will almost certainly defeat a third one, no matter how competent. The solution is to abolish the "widow-maker" position and restructure the job. (Peter Drucker) 

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William S. Frank, M.A.,
            President/CEO
25 Reasons I love consulting.
by William S. Frank
  1. Brand. You are your own brand, and you can define it any way you want. For many years, I provided outplacement to the ex-employees of Schlumberger, the world's largest oilfield service corporation. When departing employees left the company, they didn't request outplacement in their severance package. They said, "I want Bill Frank."
  2. Demand. The world will always be full of terrible problems that need solving.
  3. White Hat. I can be a helper and get paid for it.
  4. Pay. I can be paid to do things I'd gladly do for nothing.
  5. Variety. Every day is different.
  6. Happiness. At this stage of my career, I only work for people I respect and care about. If a client micromanages me or is otherwise no fun, I complete the assignment and replace them.
  7. Talent. I'm using 110% of my talents and stretching myself to the max.
  8. Change. I can change my focus any day I want. If you're a McDonald's franchisee, you don't say, "Hey, I've got this great idea for a meatball sandwich—let's try it out today." In consulting you can adjust your focus hour-by-hour, as long as your clients still understand and appreciate what you do.
  9. Income. No one else would pay me as much as I pay myself.
  10. FUN. I can't think of anything I'd rather be doing.
  11. Retirement. I can write and consult as long as I am physically and mentally capable. Peter Drucker worked into his 90s, and when asked which book was his best, he said: "My next one."
  12. Job Security. Although clients come and go, no one can come into my office and say, "Pack up your stuff . . . You don't work here anymore." In 29 years, I've only had one employer: ME.
  13. Travel. I don't have to travel unless I decide to. I travel if it's both FUN and profitable—or at least FUN.
  14. Commute. I live five minutes from my office, a corner office in an upscale six-story tower. In winter, I leave a heated garage at home and drive to an underground heated garage at work. There's seldom time to hear even one song on the radio.
  15. Vacation. Consulting is more fun than vacation (except on Wailea Beach in Maui).
  16. Friends. I have developed hundreds of close acquaintances and several lifetime friends.
  17. Time. I can work as much or as little as I like: four-hour days or 18-hour days. (Of course, my income will reflect that.)
  18. Employees. I can work with employees, subcontractors, partners, or alone—I've done it all.
  19. Passive Income. I've developed several products that provide "mailbox money." I earn while I'm sleeping.
  20. Ethics. I've never had to violate my values or personal code of ethics. I've never had to lie, purposely deceive or harm others, or promise things I can't deliver. I go to bed with a clear conscience. That doesn't mean there's never any conflict. But the conflict is conducted according to generally accepted business practices.
  21. Virtual. My career is fairly portable. With the Internet, e-mail, cell phone, and FedEx, I can work nationally, even internationally from my office—or anywhere in the world.
  22. Purpose. I make a difference in peoples' lives every day. I see it in their faces, hear it in their voices, and read it in their thank-yous.
  23. Experience. Every painful or joyful life experience makes me a better consultant. So does every person I meet or book I read. Grey hair can be good in consulting.
  24. Structure. I have to work very hard, and the clients expect superb results—but I get to structure my days, weeks, months, and years.
  25. Boss. Most of the time, I love my boss.
As I was posting these letters online, I realized I want to communicate my love for consulting. It's just a great business. The single letters, taken together, may create a picture of enjoyment, but in a burst of creativity I listed some of the reasons consulting is such a good fit for me—and perhaps for you, too. They are not prioritized; this is just how they came out.