Thursday, October 11, 2012

Why Richard Branson Gave $400,000 to an 18-Year-Old - How to Be An Entrepreneurs #Startups

Why Richard Branson Gave $400,000 to an 18-Year-Old

 

It was around 10 a.m. on June 13, 2011 when 18-year-old Stacey Ferreira needed a break. She and her brother, 20-year-old Scott, were busy building an online password storage portal out of their apartment in Los Angeles. Ferriera fired up her Twitter account and immediately noticed a tweet from Sir Richard Branson.

The British magnate and founder of the Virgin Group wrote that any of his followers willing to donate $2,000 to his favorite charity were welcome to attend a cocktail party with him in Miami and included a contact email at the end of the message.

Ferreira wasted no time. She e-mailed Branson, telling him that she wasn’t old enough to consume alcohol, but would still love to meet him. Hours later, she received a response. He wanted to meet her, too, as long as she could fly to Miami and donate $2,000.

The event was in just two days and without disposable income, the sister and brother secured a $4,000 loan from their parents with the promise of pay them back by the end of the summer. They boarded a plane less than 24 hours later.

Meeting a Tycoon

Nearing sundown on June 15, a dressed-up Ferriera and Scott walked into Branson’s party at the Versace mansion on Miami Beach. A bouncer ushered them into a room with 18 other people. When Branson entered, Ferreira jumped at the chance to chat with him.

“I was the first person to introduce myself; I told him that my name is Stacey, I am 18 years old and I have a business,” she remembers.

Ferreira and her brother explained their company, MySocialCloud.com. The site operates as a password storage space in the cloud where users can auto-login to every password-protected site they use. It also enables the sharing and organizing of bookmarks.

Branson was immediately intrigued.

“We ended up chatting the whole night,” she says. “He was genuinely interested in what we were doing and was the nicest person ever.”

The party extended to the following night at South Beach’s Raleigh Hotel. It was then that the siblings exchanged contact information with Branson and promised to keep in touch.

Attracting Investment

Ferreira and Scott returned to Los Angeles high on excitement. They dove into work and reached out to Branson frequently. In August, Branson put them in contact with Jerry Murdock, a Colorado-based founder of Insight Venture Partners. He then promised to match any investment Murdock made, penny for penny.

After several phone conversations, Murdock flew out to Los Angeles to meet the MySocialCloud.com team. As Ferreira says, he “grilled” them about plans for the future and the health of their business. At the end of the visit, Murdock invited Ferreira and her brother out to dinner.

“It was at dinner that he told us that he wanted to invest $400,000 into our business,” Ferreira says. “After the meal, we went back to the car, pinched ourselves and asked, is this real? How did this ever happen? We were stoked.”

Murdock and Branson’s investments came through in August, an amount that helped Ferreira and Scott move to into an office and hire employees.

Since then, Alex Welch, founder of Photobucket, has also invested—at Murdock’s recommendation.

Growing rapidly

Today, Ferreira, 19, and Scott, 21, run a nine-person team out of their Los Angeles offices and regularly keep in touch with Branson. When the company released its beta version in February, they notified him over email. Two days later, he walked through their door.

“We weren’t expecting him to come; we didn’t even have a party,” Ferreira says. “But he was passing through L.A. and stopped by to say hello. It was great.”

The team plans to officially launch by the end of the summer. Regardless of how big they get, though, they plan to stay close with Branson.

Ferreira says, “We used to watch our grammar when we would e-mail him, but now we can send casual one- or two-liners.”

Advice for Teenage Entrepreneurs

Teenage entrepreneurs: have faith. Ferreira recommends asking people for help while you are building your business. She networks through Twitter and then transitions her contacts into Google chat conversations.

And never give up.

“No matter what people say, just go for it,” she says. “So many people told us that we were too young to succeed. If we had listened to them, we wouldn’t be where we are today.”

Katie Morell is an independent writer and editor based in San Francisco specializing in business, travel and human interest topics. Her work has appeared in USA TODAY, Hemispheres, The Writer, Destination Weddings & Honeymoons, Chicago Tribune, Chicago Sun-Times and many others.

Photo credit: Courtesy subject

Frank Mattes invigorating presentation on Open Innovation Culture Change.

 

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Tuesday, October 9, 2012

Portable Faucet Aims to Clean the World's Water [VIDEO] #causes #Charity #givingback

For Kim Chow, a trip to Lima, Peru, proved to be a concerning one. Chow found that the people of the 30,000 Cerro Verde slum were storing water in 55-gallon drums on the street, making the town more susceptible to water-borne illnesses. She also discovered that water was 14 times more expensive than what households in other towns were paying for tap water.

Chow and her classmates at the Art Center College of Design wanted to find a cheap solution for the town’s needs; so, they developed the “Balde a Balde” (Bucket to Bucket). The portable faucet pumps water from the water drums through an adjustable nozzle, so residents can save water by alternating from light or heavy streams.

SEE ALSO: 5 Tech Breakthroughs Bringing Clean Water to the Developing World

 

The faucet is also a way to encourage kids who couldn’t previously reach the drums to consistently wash their hands before eating or after using the toilet.

Rubbermaid is teaming up with Chow to start production of the faucet, and hopes it will change the lives of the 780 million people worldwide currently without access to clean water.

Watch the video above to see the faucet in action.

What other tech gadgets and projects you know are helping improve people’s quality of life? Tell us in the comments below.

 

 

Monday, October 8, 2012

Play Nice, Fight Fair - How to Build a Healthy Relationship and Career

Play Nice, Fight Fair

By the time I married, I’d already been an entrepreneur for several years, but I did bring my spouse into the business… or tried to, anyway. The experiment was short-lived, something that would not surprise David and Jamillah Lamb, business partners, spouses and co-authors of Perfect Combination: Seven Key Ingredients to Happily Living & Loving Together.

So how does this happily married couple keep the peace on the stage, behind the scenes and at home? They follow the motto “Love like kids; act like adults.” That means combining the joy of being spontaneous, playing together and exploring with taking responsibility for one’s actions. “Don’t say, ‘We never go anywhere,’ ” Jamillah advises. “Take responsibility for going somewhere!”
Jamillah says a lot of couples see working together as doubling the opportunity for conflict in a relationship, and that can be true. But she says, “It also doubles the opportunities for growth.”

How to Love Like Lambs (David and Jamillah Lamb, That Is)

The authors of Perfect Combination: Seven Key Ingredients to Happily Living & Loving Together share a few tricks of the trade:
  • Let go of the desire to be in control. If one of you does something better than the other, then play to each other’s strengths. Don’t worry about gender roles. If your husband loves to cook, let him do it. There’s no reason you can’t mow the grass if being outdoors is more your style.
  • Appreciate each other, and remember to show it.
  • Pay attention. If you notice something is difficult for your partner, then don’t force her to do it. Notice what she likes to do and what motivates her. “Pay the same attention to each other as you did when you were courting,” David advises.
  • Don’t take the business home. “One of the things we had to learn was not to bring anger or frustration we felt against our employees into our relationship,” David says.
  • Praise first. Even if you have to criticize your spouse, watch how you do it. Point out something he does right first.
  • Learn to disagree without being disagreeable.
  • Take time apart. Cultivate relationships, hobbies and joy outside of the partnership. Maintain your identity as individuals.
  • Let the little stuff go. Take a step back and remember the bigger vision for both your marriage and your business.

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Saturday, October 6, 2012

How Leaders Can Increase Growth Through Bottom Up Feedback.



By the time you become a senior executive, you have no doubt honed a set of skills and talents that enable you to be effective in your job. To help you get to this point, you likely had coaches and mentors who closely monitored your progress, prodded you to develop your talents, and, when necessary, confronted you with criticisms that you may not have wanted to hear but needed to hear in order to continue your upward path.
At this stage in your career, most (if not all) of your colleagues are probably subordinates. While you may be “overseen” by a board of directors or very senior boss, your superiors probably no longer closely observe your daily behavior. Instead, they now form their opinions of you based on your presentations in relatively formal settings or on secondhand reports from your subordinates.
As a result of this, many executives find that as they become more senior, they receive less coaching and become more confused about their performance and developmental needs. They may also become increasingly isolated from constructive criticism—subordinates do not want to offend the boss and may believe that constructive suggestions are unwelcome and unwise. Many senior executives also unwittingly send off a “vibe” that while they claim to encourage constructive criticism, they really don’t want to hear it. At this stage of their careers, they may not have focused sufficiently on developing mutually trusting subordinate relationships that would make getting feedback and advice a lot easier.

Too frequently, when these executives ultimately do receive feedback in their year-end reviews (often as part of a 360-degree-feedback program), they are surprised to be confronted with specific criticisms of their leadership style, communication approach, and interpersonal skills. Worse, they may also hear broad concerns raised about their strategy, key tactical decisions, and operating priorities for the business. These leaders may even learn, often too late, that the various criticisms and concerns have been widely discussed among their subordinates for an extended period of time without them being aware.
I have certainly experienced and observed this phenomenon over the past 25 years in my own executive career and also in working with numerous executives since coming to Harvard Business School. I have seen the tendency for senior executives to become more isolated from constructive criticism and strategic advice—sometimes without their full awareness. As a result, over the past several years, I have worked intensively with my own direct reports and advised many other senior executives to develop specific approaches for getting the essential feedback they need.
The purpose of this article is to distill these approaches into specific and actionable advice. In doing so, I hope to make you more aware of the tendency to become isolated and suggest approaches to getting better feedback, particularly from subordinates, that will help you to materially improve your performance. I will also discuss further steps you can take to get dramatically better strategic advice regarding your business or nonprofit organization. By taking these actions, you should be able to take greater ownership of the feedback process and improve your ability to build your organization, capabilities, and career.
Cultivate a network of junior coaches
One of the first questions I ask senior executives is, “Who is your coach?” Many respond with a list of mentors who are outside the company or perhaps on the board of directors. These are “mentors” (versus coaches) because they do not directly observe the executive. Unfortunately, their advice is only as good as the narrative provided and often doesn’t adjust for blind spots or the mentor’s lack of professional familiarity with the executive.
My follow-up question—“Who actually observes your behavior on a regular basis and will tell you things you don’t want to hear?”—is often met with silence.
This was the case with the CEO of a medium-sized pharmaceutical company. He complained of having a difficult time getting consensus among his senior-leadership team on several key strategic decisions. These included which early-stage drug compounds to develop and whether to develop them through joint ventures or by going it alone. Such decisions were enormously consequential due to the substantial capital required to develop and get FDA approval for a new drug. The CEO believed these issues required a high level of consensus, as they had an impact on every department of the company. He thought highly of his senior-leadership team but was becoming quite frustrated. He asked whether there might be a problem with his leadership style or, alternatively, if he should consider replacing one or more of his senior executives. Some of his close friends and outside advisers had suggested that a senior-team shake-up might help the situation.
I asked him whether he sought coaching from his subordinates. He responded, “Of course not; they’re the subordinates—it would be awkward for me to ask them for coaching. I’m the coach!” When I asked him what was wrong with seeking coaching from subordinates, he thought long and hard and explained that, during his career, he seldom had observed his bosses and senior-executive role models make themselves vulnerable enough to seek feedback from their direct reports. He also wasn’t sure how he would do it and believed that this would make his subordinates (and him) uncomfortable and possibly disturb the boss/subordinate hierarchy.
Despite his reluctance, I urged him to go out and individually “interview” at least five of his direct reports. He need ask only one question: “What advice would you offer to help me improve my effectiveness? Please give me one or two specific and actionable suggestions. I would appreciate your advice.” Although hesitant, he agreed to try it.
These conversations were awkward at first. The first responses indicated that he was doing “fine” or even “very well.” It took time, prodding, and waiting out some uncomfortable silences to convince his subordinates that he was sincere, truly wanted feedback, and was serious about acting on it. In the course of this initial round of conversations, the CEO received some surprising, jarring, but very useful advice. He learned that:
  • He was perceived as someone who seldom asked questions of subordinates. Some of his direct reports admitted that they had assumed he didn’t care what they thought.
  • He was widely seen as a poor listener. When subordinates came to speak with him, he usually did most of the talking.
  • He was viewed as quite “guarded”—not revealing much about what he believed were the key issues facing the business and what worried him. People commented that they weren’t sure how to read him and “didn’t know where he was coming from.” He realized that his subordinates often misinterpreted his actions.
  • Lastly, his leadership meetings were procedural and reporting meetings rather than sessions in which issues were framed and debated. As a result, his senior leaders seldom had the opportunity to debate and discuss issues with each other (unless they initiated meetings on their own). This made it difficult for the group to agree on which drugs to develop or to decide how best to develop them.
While the CEO was widely perceived as a brilliant strategist and creative thinker, he was not yet seen as an effective manager and leader. Much of this was surprising to the executive, who said he hadn’t previously heard these observations from any of his mentors or bosses.
He began to act immediately on a number of the criticisms. In particular, he arranged to reach out to each of his direct reports on a regular basis for specific advice (and encouraged them to do the same with their direct reports). He also established monthly leadership team dinners where the senior-executive group could candidly discuss and debate key issues.
After three months, the CEO was able to break the group stalemate on several important issues, including getting agreement on two new drug targets and specific approaches to developing each drug. During this time, the CEO had led several sessions where the members of the group wrestled with these tough questions and, importantly, came to better understand each other, as well as the CEO’s vision for the business. Through open debate and discussion, the team members developed a greater respect for the challenges that each of them faced in their individual areas of responsibility. As a result, they began operating as a more cohesive unit.


In the course of these steps, the CEO also focused diligently on strengthening his own “soft” relationship-building skills, including self-disclosure, inquiry, and listening. He had long believed that a strong leader needed to be a bit guarded and a strong advocate. Now, he realized, it was time for him to revise this view and recognize that an outstanding leader is willing to reveal information about his or her values, background, and thoughts—as well as to ask good questions and be a skilled listener. While advocacy had its place, the CEO observed that his team responded much more constructively when he explained his own uncertainties and concerns, asked well-framed questions for debate, and actively listened to the discussion. He learned that these “soft” approaches were critical to getting better feedback and becoming a better manager.
He put these skills to use at his senior-team dinners, where he played the role of facilitator—framing two or three issues, forcing himself to sit quietly and actively listen, ask probing follow-up questions as appropriate, and generally ensure that team members expressed their candid views. This took considerable practice, but the CEO ultimately became a very effective discussion leader of the group.
In individual meetings, he worked hard to ask more questions, listen more (talk less), and disclose more about what was keeping him up at night. For example, he revealed his growing concerns about the high cost and uncertainty of the US Food and Drug Administration (FDA) drug approval process. By framing questions about how the company could avoid “betting the ranch” in developing individual drugs, the CEO helped his team better understand why he had been pushing the concept of joint venturing and ultimately crafted a consensus on the need for this approach on at least one of the company’s new drug-development projects.
Above all, this CEO learned that asking for advice and coaching was a sign of strength rather than weakness. Using these techniques, he now found that he could rely more heavily on his subordinates for advice and as an early-warning system for his own performance. Furthermore, as he and his senior managers began to understand and trust one another, many shared with him their own career aspirations and concerns. Indeed, this had the impact of stabilizing his senior-leadership group, helping the CEO retain members of the team and generally improving morale. As a result of all these efforts, he now reported feeling far less alone and isolated. While he regretted not having taken this approach sooner, he was optimistic that he was now on the right track.
Push feedback further: The ‘clean sheet of paper’ exercise
As CEOs and other senior leaders strengthen their networks of junior coaches and build better relationships with subordinates, a broader culture of coaching and learning can take root in an organization. Employees at various levels become more motivated to give upward feedback when they see that it has a direct and positive influence on both senior-leader behavior and company actions.
Building on this progress, CEOs can take further steps to getting valuable input on key strategic questions. This is essential in a constantly changing world where industries and customers evolve and businesses can easily get out of alignment. In many cases, external shifts may be difficult for senior leadership to recognize, and otherwise vocal employees at the “point of attack” may not feel sufficiently informed or empowered to voice their views. In addition, existing strategic-planning and business review processes may not surface and confront these issues in a sufficiently timely and effective fashion.
Consider the experience of the CEO of an industrial-products company who was worried about the potential erosion of his company’s competitive position. This CEO was widely respected in his company and industry and had done an excellent job of developing strong upward coaching relationships with subordinates.
The company had been built around a group of high-value-added products and several follow-on innovations, and had built very strong customer relationships over many years. However, the CEO was growing increasingly concerned that key competitors had taken specific actions that would strengthen their value propositions to his customers. He was also concerned about the commoditization of some of his company’s legacy products. He believed that dramatic changes might be needed to meet these threats but feared that potential remedies—shutting down product lines, selling businesses, and restructuring how sales and product development interacted to serve customers—might damage the organization’s culture and morale.
This CEO’s concerns raised questions that went beyond typical coaching. Further, he believed that the issues were too substantial and even controversial to be adequately handled by the company’s regular strategic-review discussions and processes. Because his leadership team was closely knit, he sensed that senior leaders were walking on eggshells when they debated these issues—they were hesitant to be perceived as criticizing colleagues or unintentionally offending the CEO. He admitted that his senior team might be “too close” to the issues to recognize and propose appropriate actions. He even wondered whether it was too emotionally difficult for them to face what needed to be done.
The CEO decided to take an unorthodox step. He created a task force of six senior and midlevel up-and-coming executives and challenged them to look at the business with a clean sheet of paper, asking: “If you had to start this enterprise from scratch today, are these the markets we would serve? Are these the products we would offer? Are these the people we would hire? Is this the way we would organize, pay, and promote our people? What changes do we need to make, given our distinctive competencies and strategic aspirations?” He gave them six weeks to complete the assignment (in addition to their day jobs) and impressed upon them that there should be no “sacred cows” and that they should not worry about being “politically correct” in their findings. He also explained that, while he might not adopt all of their proposals, he wanted to hear each of their recommendations and ideas.
Six weeks later, the team came back with several bold recommendations. The team suggested divestiture of two aging product lines that, up until then, had been considered off-limits by the senior leadership because they had once been run by the CEO and were seen as part of his legacy. They also suggested a number of organizational changes, including building out the sales and customer service functions, developing (or acquiring) an upgraded emerging-market distribution capability, and realigning the company’s compensation incentives.
The CEO was astounded by the audacity of the advice—and surprised that he completely agreed with it. He realized that he might have been too close to the business to recognize what needed to be done and felt liberated to get these specific proposals. As a next step, the CEO had the task force present its findings to his senior-leadership team, which agreed unanimously with the recommendations and immediately began working on plans to implement them.
One year later, the CEO reported that the changes were difficult but had substantially strengthened the company. He felt much more confident about the company’s future and the strength of his leadership team. Further, he decided to launch a strategically focused “clean-sheet-of-paper” task force every one to two years to complement the company’s regular strategic processes. He and his leadership team believed this new approach would allow them to create a fresh intervention capability that wasn’t subject to the potential inertia and political pressures of the regular strategic processes. Further, this exercise created an opportunity to challenge up-and-coming executives and see them in action, while providing participants with a highly motivating learning experience.


Four ways to get started


This approach builds on efforts to create an upward coaching environment for senior leaders. It allows you to get coaching that is grounded in the strategic needs of the business and is also an excellent way to take a fresh look at your company. It reinforces the need for leaders to have the courage to frame the right questions and ask for help from their people. This type of approach, combined with strong individual coaching processes, can help build a powerful competitive advantage for your organization.
The approaches in this article are intended to help you take greater ownership of getting feedback and should complement the 360-degree feedback process or board review processes that your company already uses. While 360-degree feedback is very valuable, it typically occurs at the end of a year and therefore often lags in highlighting key issues. In a fast-changing world, you need a more active approach for getting coaching and real-time advice. While some of the activities suggested in this article (see sidebar, “Four ways to get started”) may feel awkward at first, I would encourage you to overcome some initial discomfort in order to take greater ownership of getting feedback. By developing this mind-set, you will improve your ability to ask the right questions, as well as dramatically upgrade your effectiveness and the performance of your organization.  via Mckinsey


Thursday, October 4, 2012

Creating a Top-Performing Team: Leadership Development for Tomorrow’s Corporations - Marcus Buckingham

Corporate America is in crisis. Consumer confidence is plummeting. Leaders are failing. In fact, more than 40 percent of new leaders fail within their first 18 months. Many companies, however, are also failing their leaders as they continue to invest in a broken leadership development model.

Billions of dollars are spent annually on leadership development programs – $171.5 billion by U.S. businesses in 2010, the most recent year for which data is available, according to the American Society for Training and Development. That’s an average of $1,228 per employee, but virtually all of this investment is spent on the same formulaic training model and black-and-white metrics. With their focus almost exclusively on classroom learning and lockstep generic curriculums, these dinosaurs of training simply don’t have what it takes to develop the next generation of leaders, managers and employees.

Globalization means the entire world is a competitor. The fast pace of technological change decrees organizations must keep innovating and learning, or they will die. These are not radical insights — but their effect is both radical and disruptive. Almost by definition, innovation is unique, particular and localized. Yet, a company must learn to scale innovation in order to thrive.

How can innovation be spread within your organization? The key is a new leadership development model. One that is scalable, but accommodates the uniqueness of each leader’s techniques; one that is stable enough to permit the training of hundreds at once, but dynamic enough to incorporate and distribute new practices and other innovations in real time. Is it possible? Yes.

Today’s Leadership Development: Google It

Steve Jobs rejected focus groups because he believed “people don’t know what they want until you show it to them.” In contrast, other leaders rely on input from the regular world. Sam Walton of Walmart, for example, used to visit his stores every Friday to see what customers were doing and what they wanted. He called it quick market intelligence. The takeaway? A technique that works for one person does not necessarily work for another.

It’s simple enough: people’s approach to work is as diverse as people themselves. We all know this. It’s the most cutting-edge companies that are embracing this diversity in the way they interact with their customers.

Google, for example, is formalizing and intensifying learning in a completely new way with GoogleEDU, its two-year-old, in-house leadership development and education program. While classroom-based, the sessions center on topics such as exerting influence in a company that prioritizes ideas over titles. The goal is targeted learning, from which its employees can identify more actionable goals. It’s individualized and customized.

Hampton-ality

Not all formalized leadership development takes place in classes. Facebook, Netflix and Amazon filter countless content options to fit individual tastes – and then deliver them via technology in real time. Service-focused hospitality giant Hilton takes a similar approach. Over the last several years, Hilton executive Phil Cordell has worked to embed and apply an algorithmic model of leadership development, propelling personalized learning throughout his organization.

Cordell and his team started by administering a situational judgment test — StandOut — to a select group from among the top 10 percent of Hilton’s general managers. Analysis of the results helped Cordell and his team learn about individual leadership techniques that fueled their success.

The techniques are as diverse as the leaders themselves. One uses a mascot to symbolize best practice behavior and attitudes among staff; another rewards employees with a bimonthly “paycheck lunch” during which she encourages team members to share stories and details of what they appreciate about one another. These techniques work spectacularly well for them — even though the same techniques wouldn’t work nearly as well for managers with different strengths. There are, however, some managers who could benefit from using some of these techniques, or who might be inspired to create another variation.

This is where the StandOut algorithm comes in: helping to target techniques to the right people. For Cordell and Hilton, the specially designed algorithm draws on a constantly growing database of concepts, innovations and practices associated with specific leadership styles, and pushes them out to managers of the same leadership style as a series of techniques they might try.

A cloud-based mobile application helps reinforce the knowledge and sustain learning throughout Hilton’s Hampton brand of 1,850 hotels. Twice a week, the tool delivers new techniques and tips from top performing general managers and other leaders.

To be effective, the leadership advice must be:

· Short – because the brain is built to pay more attention to short, frequent stimuli;

· Personalized – the algorithm ensures that most techniques a user receives come from leaders whose strengths match his, but occasionally the app delivers techniques from different strengths, adding an element of surprise;

· Interactive – with the option to “bank” select techniques, the managers can build their own vault of knowledge for later reference and use, adding detail to their leadership profiles.

The algorithmic approach to leadership development capitalizes on individual strengths and crowd-sourced advice available anywhere, anytime. And for a new generation of leaders raised on Google search-style personalization, it’s more critical than ever for organizations to up their ante and invest in development that is ongoing, always available, and geared to the strengths of each leader.

Marcus Buckingham is founder of The Marcus Buckingham Company, creator of the StandOutM tool, and the author of seven bestselling books, including his latest book “StandOut”. He is an expert in strengths-based leadership. via chiefexecutive.net

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Wednesday, October 3, 2012

Making the Choice Between Money and Meaning - Umair Haque

See how our not for profit leadership foundation gives back to improve the life of people everywhere.

Remind me: why is an average investment banker is worth, say, a hundred times as much as an average teacher? And why does a top hedge fund manager "earn" enough to pay for thousands of teachers?

Is there a trade-off between meaning and money? And if there is, how does one master — and perhaps — resolve it? Can it be resolved?

There is indeed a stark, sharp, gigantic trade-off between meaning and money in our so-called brain-dead shell-game Ponzi-scheme of an "economy."

But there shouldn't be.

In a "working" economy, one should gain a sense of meaning from one's work when one makes a lasting, visible difference; and when one makes a difference, one should be rewarded for (and in proportion with) it. Now, in the name of dynamism and accomplishment, one probably shouldn't be guaranteed a fortune doing what one loves; I don't suggest that every wannabe Hemingway and Picasso should be raking in the bucks like a mega-banker. But the fact that it seems nearly impossible to build a stable, secure, happy life in the segment formerly known as the "middle class" by doing worthwhile work that makes a real human difference is the exception that proves the rule, illuminating just how deeply, and perhaps fatally broken our economy is.

You and I face the difficult choice of trading meaning for money; we weigh the searing moments of real human accomplishment against the soul-sucking "work" of earning the next car payment by polishing up another meaningless PowerPoint deck packed with tactics to win games whose net result is the creation of little of real value for much of anyone who's not a sociopath. This is the deepest kind of theft; not merely prosperity having been looted from societies, but significance having been stolen from human lives.

Yet, the unforgiving truth is: the trade-off between meaning and money is as real — and as toxic, as characteristic of our post-prosperity present, and as strikingly intensifying — as climate change. And, like climate change, while you can argue that it's existed throughout history, to do so is a weak argument; so has, say, human trafficking.

In the simplest sense, the very point of a "capitalist" economy is to minimize the trade-off between meaning and money. So, for example, you and I don't have to spend a lifetime building, stone by stone, a Great Wall or a Pyramid — to satisfy the whim of an Emperor or a Pharaoh — and so burn through our one invaluable precious life. Every life has worth; and because it has worth, so it must seek, and discover, meaning.

So what can you do about it? There's only one good answer, and it's simple. Stop trading meaning for money. It's the worst trade you'll ever make. But the truth is, you and I are encouraged to make the worst trade in the world from the second we're socialized — from school "counselors" who exhort us to settle for the safe; to schlock-and-awe advertising that lamely attempts to brainwash us into buying our way out of emptiness and self-loathing; to "jobs" that reward us for extinguishing what's good, noble, and true in us. Perhaps it's no exaggeration, in short, to suggest: our way of work, life, and play revolves around hundreds of millions of people, billions of times a day, trading meaning for money — so, of course, the next hour, day, week, and money, they can furiously, eagerly, desperately spend large amounts of money trying to buy tiny morsels of meaning.

Consider, for a moment, what noted economist Richard Easterlin has recently found: that as China has gotten notably richer, its happiness has followed a U-shaped curve: first declining, then ascending — but never ascending past its previous, historic, poverty-ridden peaks. While I don't pretend societies should be held hostage to "happiness" as the only end of life — to be sure, a full, rich life is in every sense larger and wholer than a merely happy one — perhaps this now-familiar research demonstrates a truth that I'd bet, deep down, most of us don't just know, but feel, live, and breathe: that while we've become proficient at attaining riches, while the pursuit of material wealth is now something like the application of a well-worn formula, living lives rich not just with megabucks, but with meaning remains elusive, enigmatic, difficult.

And yet a life without meaning is like a day that never breaks.

But when I say, "stop trading meaning for money", I emphatically don't mean we should do the opposite: start trading money for meaning. Instead, we must detonate this toxic trade-off — for while it might not irreparably poison our lives, it surely will diminish, reduce, and wither the worth of our limitless potential.

Step out of your shadow, the carefully constructed almost-self you've been instructed, encouraged, cajoled to settle for. In this big-box store of the human spirit, the only choices on offer are money or meaning. You can be the jet-setting exec (banker, trader, technocrat) with a soul as deadened as the waning arctic winter — or the underpaid teacher (artist, writer, designer) struggling to reach the high summer of prosperity. It's up to you not just to reject and refuse those dilemma-ridden choices — but to rebel against them and forge better opportunities; above all, the opportunities that make up a life worth living; the stuff of eudaimonia — a life that matters because it's been lived meaningfully well.

This is what the unbending arc of human potential never stops asking of each and every one of us. Stop trading money for meaning. Start blowing up the dilemma by investing money — and much more significantly, time, energy, attention, relationships, imagination, and passion — in the stuff of a life meaningfully well lived. Any fool with an empty wallet, a gimlet eye, and an emptier head can sell his soul; just as any dilettante can trade meaning for money, and glorify themselves as a starving artist. The greater challenge in any life isn't merely extracting the highest price for your soul; nor safeguarding your soul while opportunities pass you by — but earning, with the coin of mattering, a life that has counted in the terms that make us not merely "rich", but whole, worthy of the privilege of having lived.

Let me put that in real-world terms.

You're 25. You're finally offered a job at the corporobotic blue-chip institution your less interesting acquaintances have always dreamt of working at. Turn it down. Start the next Kickstarter instead.

You're 35. You're finally offered the big jump to VP. Take it — and then damn your first year's bonus, make your first major project redesigning a product line that matters.

You're 45. You're sidelined. Quit. Start something that makes you feel something again.

You're 55. You're fired. Don't panic. Use your wisdom; mentor, coach, teach, lead.

Let me put that even more simply. You're going to need to apply not just the following professional skills — entrepreneurship; "networking," pluck and drive, strategic thinking, leadership, branding and marketing — but also the following human capacities: a stubborn refusal to obey the dictates of the status quo, an unwavering empathy, a healthy disrespect for the naysayers, the humility of the servant and the pride of the master artisan, a persevering sense of grace, a heaping spoonful of that most dangerously unpredictable of substances, love, and, finally, the unflinching belief in a better tomorrow that those have always had who dust their saddles off, dig their spurs in, and forge ahead into the great unknown.

One day, in the far-flung future, our so-called not-really-leaders-in-anything-but-name might get their act together and begin to patch up this clapped out, wheezing train wreck of a so-called economy. So that there's not a sharp, painful trade off between meaning and money; so that bankers don't earn hundreds of times what teachers do. It's not, after all, rocket science — jiggle GDP; juggle taxes and subsidies; break up the monoliths — hey, presto: an "economy" in which material wealth roughly, crudely lines up with meaning; in which "profit" reflects real human benefit delivered (instead of how many towns and lives you've looted this quarter).

Until that day, the simple fact is: right here, right now, there's a trade-off between meaning and money. And maybe, right back to the days of the first pyramids, ziggurats, and fortresses, there always has been — and perhaps, right up to the days when humankind flits finally between the luminous galaxies, there always will be. And so: your challenge is, perhaps, one as ageless as stone, and as human as love. Forging a life — in the crucible of possibility — in which there isn't.