The Six Minute Book Summary of Pamela Slim’s Escape From Cubicle Nation
Executive Summary
Pamela Slim is a thriving life coach and writer. Exiting corporate world in 1996 she stumbled across entrepreneurship. Escape from Cubicle Nation was written to assist employees frustrated with their current position with the transition to entrepreneur. Pamela experienced the same discouragement and dissatisfaction as many today. Her efforts to provide a practical guide have been widely proclaimed in the success of her blog site and book, Escape from Cubicle Nation.
Pamela begins with the notation fears, self-defeating thoughts and lack of information prohibit employees to reach for change. The decision to leave a stable job and steady paycheck seem to be inconceivable by many. You are not alone; many individuals fear the next step. Today’s frequently changing markets and advancing technology, corporations struggle to stay competitive. This intense competition leads to job instability. Organizational structure should and will continue to shift. Pamela suggests facing your fears and opening the creative flood gate for business ideas.
Ideas become the quintessential business model; the what, why, how, where and with whom you do your business. A viable business proposal should be an area of interest or what Jim Collins refers to as your “sweet spot; what people will pay you to do, what you love to do and what you are genetically encoded to do.” Study, research and explore the idea. You are responsible for your own experience. Recruit a support system including professional advisors, mentors, family and friends. Pamela provides a vast amount of information in the search for your tribe.
Pamela said it best, “Hope for the best, plan for the worst.” Scaling back, prioritize the necessities, organize your life and workspace. Self-employment is extremely more involved than employment. Financial aspects must be review and revised constantly. The business plan should provided valuable information in preparation to launch your company.
Escape from Cubicle Nation provides fundamental guidelines and examples to lead you through the path of the unknown, entrepreneurship. Follow the course, revisit regularly, immensely research and don’t look back. Pamela references loads of authors, books, blog sites, financial software and many other valuable resources for research. She strongly encourages the use of professionals. Pamela leaves you “peering over the edge,” good luck and congratulations to those who choose the other side.
The Ten Things Managers Need to Know fromEscape from Cubicle Nation
1. The concept of entrepreneurship is becoming vastly popular with shifts in corporate society. Employees are not crazy for the desire to venture out of the cubicle.
2. A business plan provides a foundation. The building blocks to a successful company require in-depth planning in the areas of marketing, selling and financials.
3. Running the day to day operations of a business can be overwhelming and stressful. Efficient time management skills are necessary to attain a successful business. You are responsible for your business and your business alone.
4. Personal and business finances should always remain separate. Determine risk limits your family is willing to take. Remember it is ok to return to corporate society.
5. Failing is a possibility but not the end. Learn from your mistakes and move on.
6. Invest in professional advice. Yes you would rather spend the money in your new business, but avoiding unnecessary and costly errors are worth every penny.
7. Set realistic goals for yourself and your business. Earning top dollar does not happen overnight.
8. Slow and steady wins the race. Preparation is the key to a solid business plan. Starting a side business to determine is validity can be a wise choice. Not everyone is luckily enough to plunge forward and get rich quick.
9. Manage cash flows are imperative. Often businesses that buy on credit have longer payment cycles than expected. Try to provide other income generating products and services with immediate revenues. The availability of an open line of credit can help offset this cash flow problem in times of necessity.
10. Fears are normal. Distinguish between those that are valid and learn to conquer others.
Full Summary of Escape from Cubical Nation
Pamela begins the book with samples of “get rich quick” stories which is injected with the reality of her own experiences of entrepreneurship. Success does not happen overnight despite the hyped-up marketing. Pamela stresses, “Hating your job intensely is not a business plan.” Pamela’s book provides guidelines from developing ideas to opening your own business.
I Have a Fancy Title, Steady Paycheck, and Good Benefits. Why Am I so Miserable?
Opening is the heart wrenched experience of her father’s entire department arriving to work only to be handed a cardboard box for packing with an escorted exit. Suddenly this opened Pamela’s eyes to realize the instability of corporate life. Pamela emphasizes “you aren’t crazy” for the dissatisfaction or yearning desire to escape the firm grip of corporate society. Corporate changes are necessary to maintain competitive advantage.
As a blogger, Pamela felt it long overdue to speak on behalf of corporate employees. Titled, Open letter to CXO’s Across the Corporate World, Pamela stated, “No amount of creativity could overcome the fact that it is a stupid idea (compensation plans) and does nothing but create an environment of competition, politics and resentment. Whoever sold you on that idea was wrong.” She decided it was time to prepare employees for entrepreneurship but not before employing a list of drastic corrective measures for Corporate America:
Don’t spend millions of dollars to try to change your culture.
Stop running your company like a mafia.
Spend a moment walking around the halls of your company and look at your employees.
Teach people how to get rich like you.
Don’t ask for your employees’ input if you are not going to listen.
Don’t train people until you know what problem you are solving.
Ditch the PowerPoint when you have town hall meeting.
Focus on the work people do, not how or where they do it.
Watch the burnout.
Forbid people to work while they are on vacation.
Pamela’s intense feelings were confirmed by hundreds of thousands of readers. As it may seem from the list above, Pamela is not anti-corporate commerce. She believes unhappiness is a result of numerous flaws and insecurities along with individual’s ability to perform in the corporate society. If you feel like a caged animal, a beautiful shoe that’s two sizes too small or trapped in a dull cloud of cubicle looking for a change, Pamela encourages, read on.
If it is so Bad, Then Why am I Afraid to Leave?
“Your biggest fear is living in a van down by the river.” Chris Farley’s Saturday Night Live line is a core stumbling block for employee to entrepreneur transformation. Pamela provides reasoning behind such hindrances like lizard fears and status along with self help exercises to recognize, treat and overcome. Pamela promotes facing fears “head on” rather than retreating.
Detox from Corporate Life
Pamela focuses on a cleansing of the mind, finding your inner tiger. What Pamela is referring to is the creative spirit once possessed as a child. It takes an immense amount of energy and effort to keep this animal chained in a cage. Tap into your creative realm using Pamela’s instructional steps to free up time, escape reality and open the “creative floodgates.” The idea is to allow you freedom to prepare business ideas in efforts to gain happiness of your dream life. Importantly track ideas as you move along.
What’s really involved in Moving from Employee to Entrepreneur?
Pamela describes the phases of transition. The moment of reckoning may begin with a life threatening “wake-up” call to a strong desire for change or new challenges. Want to change, but what to do? Pamela suggests finding your passion, what are you good at, what will people pay you for and such. Start at the end, create your ideal life. Soul searching activities require comprehension of the ultimate goal. Know what you want then decide how to get there. Determine your business beginning with brainstorming followed by research and testing. Pamela suggests assessing financial capacity during early stages to avoid “living in a van down by the river.” Numerous experts strongly suggest a minimum of six month cushion in preparation for such a risky endeavor. Pamela includes topics of branding, support, testing and implementation of new business which are discussed in detail in later chapters.
What are all the Ways to be Self-employed?
Determining future goals such as “ideal life” guide the path to your pursuit of entrepreneurship. Pamela’s cunning analogies of “crack pipe and wheatgrass” illustrate the importance of passion. Passion must be followed by a sound business model. Business model answers the basic questions of what, how, why, where and with whom you do business all of which are modifiable to match your company. Illustrations of both failures and successes are provided as a “reality check.” Throughout, Pamela recommends StartupNation as a resource for entrepreneurs. Business models can be modestly categorized into home-based, brick and mortar, e-Commerce, e-Bay, franchising, licensing and multi-level marketing. These options provide the business structure to build your new business.
How do I Choose a Good Business Idea?
Successful business is more than intense passion and an effective business model, but a solid business plan. The creative brainstorming must be narrowed down to the “sweet spot” as Jim Collins describes. As business ideas are narrowed, they must be defined in greater detail. Pamela provides a five step process to forming concrete ideas:
Wrap your arms around the field – the message is learn everything from packaging, marketing, selling and competition. See the differences between small and large firms, lesson from both are desirable.
Choose a small neighborhood to explore – take the narrowed idea and focus on step one in detail.
Identify the hotshots doing this work successfully – find worthy mentors and competitors available for informative interviews to discuss technical and business expertise.
Carve a niche – defined products or services aimed to satisfy specific market needs.
Shake the tree – what Pamela is describing is the marketing plan and process. Determine if the business plan is viable; test the waters prior to taking the leap into entrepreneurship.
The objective of Pamela’s five-step process is to learn, plan, test, and live by the following guidelines: “Don’t risk more than you have to; learn from your mistakes; build, don’t burn bridges; and don’t sweat it if you have to go back and be your own venture capitalist for a while.”
Recruit your Tribe
New entrepreneurs need as much support as possible. Family and friends alone are not enough. Mentors and peers provide support filled with experience, contacts and wisdom. Pamela describes tribe members as comadra’s and compadre’s, very close friends, or “coparent” as translated. Mentors are commonly grouped as technical experts, wise elders and few-steps ahead peers. As Pamela references, mentors, “high council of Jedi Knights,” are not easy to come by. It’s a reciprocal relationship built on time, honesty and loyalty not mechanically chosen from a random group. Pamela provides insight for your quest to find worthy tribe members such as clubs/associations and social networks. Important note is to remember we are all equal humans regardless of accomplishments and status.
Rethink your Life: Options for Scaling Back, Downshifting, and Relocating
Pamela emphasizes the idea of hope for the best, plan for the worst. Reality is not everyone will become the next millionaire overnight, doesn’t mean your business plan was failure just it takes energy and time to succeed. Ideas and goals should be realistic. Financial preparation is imperative. Relocation and downsizing may be required financially. Paul Hyatt, web-consultant, put it best, “decide your priorities, and where you live follows…Do your homework.” Follow the market.
Do I Really have to do a Business Plan?
A business plan is not necessary but business planning is absolutely required. Tim Berry, author of The Plan as You Go Business Plan, suggests using block idea. “Jump in and start where you want.” A multitude of elements go into defining your business plan; some are the heart where others are the flesh and bones. Identify your business, market and strategic focus. Develop assumptions regarding market size, conditions and opportunities. The key is to set aside specific times for plan review during the development and operational stages. Review tangible metrics for sales, expenses, taxes and such. Develop standard operating procedures as you go, this will assist when hiring or outsourcing. Organize milestones into manageable timeline. Assess budget and cash flow projections. Pamela suggests playing the “money game” which encompasses a list of products and services offered at specific price. Start with an income goal and manipulate the number of products and services required to attain your goal. Setting prices is a tricky process. Research competitors and market for going rates. As Skip Miller says, “Make sure there is water in the pool before you jump.”
Define the Spirit of your Brand
A brand is a product or service that is distinguished from other products or services and competitors. Articulation of a business name and logo are also a part of branding. The Art of the Start, author Guy Kawasaki, recommends general guidelines to choosing a company name like beginning early in the alphabet, avoid numbers, verb potential, different from competitors, logical to type of business and avoid the trendy. Pamela states, “You should feel as comfortable in your brand as in a well-worn pair of pajamas.”
Test Often and Fail Fast: The Art of Prototypes and Samples
Failing is a natural part of the process. The idea is to learn from mistakes, forgive and forget. A large number of successful entrepreneurs have fallen short only to bounce back significantly. The issue at large is to test your product or services prior to sinking large investments to ensure it’s a viable plan.
Look your Finances in the Eye
A huge misconception by many individuals considering quitting their jobs to become a venture capitalist is the need to replace current wages. Pamela emphasizes the details besides salary to include such as benefits. Prepare a snapshot of your current finances to include income, expenses, savings, investments and debt. Downsize to necessities and clean up your credit score. Track finances on a regular basis. A cushion is not mandatory, but highly recommended prior to quitting your current job. Prepare for the worst, plan for the best.
How to Shop for Benefits
As mentioned previously, your current salary includes more than wages but benefit packages. Pamela recommends using a broker to assist with specifics when determining healthcare packages for your family. Learn the basics and decide what important for you and your family. Throughout the text, Pamela provides links and associations to provide assistance with all aspects of business development. Now it’s time to take the leap.
Dealing with Your Family and Friends
Most view change negatively which stems from uncertainty. Initially family and friends may reject the idea of leaving “stable” corporate America. If you’ve done the prep work, Pamela encourages you to speak in layman’s terms in a mild tempered manor. Respectively listen to their concerns; keep the valid points and toss the rest.
Line your Ducks in a Row
At this point, you have a solid business plan that has been researched and tested. Your mentors, family, and friends are at your side. Now listen to your professional advisors; lawyers, accountant, banker and insurance specialist. Legal, financial and insurance matters should be in order prior to launch. Understand cash flow especially when your business will extend credit. There is a substantial difference between signing an agreement and receipt of payment. Remember the “money is in the bank when the money is in the bank.” Self-employment is vastly different from your corporate job. Time management is vital. Prepare shortcuts to ensure efficient use of your time and energy. Don’t be afraid to ask for help. Outsourcing weaknesses can truly benefit your business and sanity. You have researched the experts, reach out and ask for assistance. Pamela introduces the idea of lifehacking, “term used to describe tips and downloads for getting things done.” Gina Trapani, author of Upgrade Your Life, suggests the one minute rule to emails. If you can complete it in one minute or less, do it. Lengthy responses may require telephone conversation. Time management is crucial. Prepare plans B, C, and D. Suggestions provided by Pamela as viable backup include:
Maintaining excellent relationships with former employers and coworkers. The idea is if you must return be sure not to burn bridges.
Remain up-to-date.
Get to know great recruiters. Professional relationships can assist with finding additional opportunities.
Think creatively to generate additional income.
Consider relocation to free up breathing room financial to grow your business.
Your hard work in preparation and planning will assist in your transition.
When is it Time to Leave?
Preparation is complete; the decision to leave your job is the final step. Earlier on Pamela discussed facing your fears, quitting is by far the scariest. Review your plan for reassurance and necessary modifications. Suggested checklist:
Chest-burning enthusiasm – the ground work is hard and tedious but running your own business will take an extreme amount of energy and stamina. Remember to stay motivated and separate your lizard fears from legitimate ones.
A solid business case – review your idea, testing and marketing. Do they all support a viable business? Be prepared for modifications to maintain competitive or deal with unforeseen circumstances.
An eager market – market niche is defined, tested and ready for your business.
A money plan – personal and business finances are in order. Open a line of credit for necessities. Back plans are in place.
A marketing plan – you have to talk it, blog it, advertise it to sell it.
A healthy approach to sales – uses your marketing plan to sell your product or service. This is path to your ultimate goal.
Time to create your business – maybe you launch part-time while working or go full force. Organize your workspace and utilize time management skills.
Learn from the pros like Guy Kawasaki, “focus on cash flows, make little progress each day, try stuff, ignore schmexperts and never ask anyone to do something that you wouldn’t do.”
Reality is a funny thing. You may follow all suggestions and do all the right things, but fail to earn enough to support your family. This text has provided the guideline and exercises needed to bring your dream to reality. Pamela’s parting advice is “it’s a leap of faith. You can choose to take it or not.”
The Video Lounge
Scott Ewart has shifted from corporate America to entrepreneurship. His video hits on the ideas of shifting your mindset from an employee to business owner.
http://www.youtube.com/watch?v=TH841rE5IEg
Personal Insights
Why I think:
With business conditions today, what the author wrote is true – because:
Corporate society is ever changing. Basically entrepreneurship is a plan B to employee. Preparing yourself for a journey of owning your own business is a process that all should experience. Taking a look at your strengths and weaknesses will provide a since of freedom that many long to enjoy. Whether one decided to stay or go is their decision alone. Throughout my reading, I completed several of the exercises that have actually prepared me for my career in corporate America.
Then, all of the following bullet-items are mandatory to write about:
If I were the author of the book, I would have done these three things differently:
1. If I were the author of the book, I would have limited the name dropping and usage of others published works.
2. If I were the author of the book, I would have geared the book to both male and females. I understand she is a female author but some of the analogies would be rather boring and inappropriate to male readers.
3. If I were the author of the book, I would have ventured away from consultant work or at least incorporated something into the title. The title leads you to believe it encompasses entrepreneurship in general, in actuality very geared towards service industry only.
Reading this book made me think differently about the topic in these ways:
1. Reading this book made me strongly consider the rewards of owning my own business.
2. My reading opened my eyes to determining my true passion. As a soon to graduate college student, I have lost my “sweet spot” or at least forgot what it was.
3. Regardless if I decide to open my own business or become an employee, the exercises teaching you to distinguish your fears and gain control of your finances are valuable lessons. Today’s path leads to employee but one never knows what tomorrow will bring.
I’ll apply what I’ve learned in this book in my career by:
1. As a manager, I’ll remember employees are my equal. To avoid losing a valuable asset to entrepreneurship, I’ll manage like I want to be managed.
2. I’ll apply what I’ve learned in this book in my career by realizing waiting on the right opportunity, it will actually pass me by. Sometimes you have to step off the cliff and hope your education, experience and preparation will land you on solid ground.
3. I’ve learned that when my family or friends decide to take the plunge from employee to entrepreneurs to support them and obviously recommend Pamela Slims book.
Here is a sampling of what others have said about the book and its author:
To have emerged from cubicle to business owner, Anita Campbell remembered the “true escape” feeling from such a strong book title. She refers to the book as a roadmap from employee to entrepreneur. Pamela provides easy to follow guidelines to prepare you for the journey ahead.
Cathy Goodwin believes Pamela Slim’s book is a fast overview. Goodwin would like to see additional emphasis on market and marketing. She feels readers should understand this a starting point and will require greater depth before moving along.
Bibliography
Campbell, Anita. (2009) “Review of Escape from Cubicle Nation” retrieved from http://smallbiztrends.com/2009/06/review-of-escape-from-cubicle-nation.html
Goodwin, Cathy. (2009) “Good guidebook for making the Leap” retrieved from http://www.amazon.com/review/product/1591842573/?tag=personalmba-20&showViewpoints=1
Slim, Pamela (2009). Escape from Cubical Nation: From Corporate Prisoner to Thriving Entrepreneur.
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Contact Info: To contact the author of this “Summary and Review of Escape from Cubicle Nation,” please email Jamie.Morgan@selu.edu or Jmorgan7589@yahoo.com.
Biography
David C. Wyld (dwyld.kwu@gmail.com) is the Robert Maurin Professor of Management at Southeastern Louisiana University in Hammond, Louisiana. He is a management consultant, researcher/writer, and executive educator. His blog, Wyld About Business, can be viewed at http://wyld-business.blogspot.com/. He also serves as the Director of the Reverse Auction Research Center (http://reverseauctionresearch.blogspot.com/), a hub of research and news in the expanding world of competitive bidding. Dr. Wyld also maintains compilations of works he has helped his students to turn into editorially-reviewed publications at the following sites:
Management Concepts (http://toptenmanagement.blogspot.com/)
Book Reviews (http://wyld-about-books.blogspot.com/) and
Travel and International Foods (http://wyld-about-food.blogspot.com/).
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