Career 06 May 2018
After 15 years of consistent growth in the media industry, digital executive Fran Hauser was writing a post-grad playbook of how to launch a successful career when she received an overwhelming response from a blog post she published on succeeding as a “nice" girl.
“It's not just about winning, it's about how you win," shares Hauser on her decision to pivot her book's message to shatter the nuances between the correlation of success and kindness with “The Myth of the Nice Girl."
“It became clear I had struck a chord; this was a topic women were thinking about and they were struggling with."[thb_image full_width="true" alignment="center" image="9774" img_size="full"]
The original idea came to Hauser in 2009 when she was serving as the President of Digital at Time Inc. and realized connections from earlier in her career were reappearing in her professional life, which she ultimately ties back to how she built her brand. “If you win in a way that is not aligned with your values and you are hurting people in the process, that's going to come back to bite you; people's memories are long."
For Hauser, these values were kindness and strength--defying the mentality that you need one or the other in order to be successful. This, therefore, became a key message in “The Myth of the Nice Girl" as Hauser highlights the potential to lead with both kindness and strength through a combination of personal stories and anecdotes from notable names in her personal circle. Among them are Mindy Grossman, Susan Canavari, and Blake Lively, who support Hauser's personal narrative with tips and techniques from topics in their relevant fields, addressing mentorship to evidence-based confidence. “They are all women that really 'walk the talk' in terms of bringing both kindness and strength into their professional lives," says Hauser. “I really wanted them to share something that would deeply and richly support one chapter."
“It's not just about winning, it's about how you win," shares Hauser on her decision to pivot her book's message to shatter the nuances between the correlation of success and kindness with “The Myth of the Nice Girl."Hauser, herself, is seemingly a woman who “walks the talk" as she shares her experiences from building PEOPLE.com to advising consumer-facing companies, while remaining true to some of her strongest character attributes, which she defines as empathetic, collaborative and confident that there are enough opportunities to go around. “The last part is really important because it's this whole abundance attitude rather than a scarce mindset; when you have that [abundance], you're more generous."
Relating it to an experience in her early career at AOL, Hauser explained how she was promoted frequently but there was a coworker who viewed this growth as “overly ambitious." In one of the key messages of “The Myth of the Nice Girl," Hauser explores the idea that you can be ambitious and likable. “I didn't do it in a way where I was stepping on toes or being disrespectful. I was doing good work and, in that process, developing really great relationships with people."
She explains the ambitious-likeability factor as a double standard that you can take control of based on how you create “opportunities for yourself, while also elevating others." Along with describing this correlation, Hauser highlights the necessary balance between direct and kind feedback; firm and collaborative decisions; caring too much and setting boundaries; as well as strategic and empathetic negotiations.
“I'm not a pushover or a people pleaser. I'm direct," she says on the ability to depict the book's chapters on these coexisting qualities that are often overlooked.
She concludes with the take-home message, which is also the underlying theme throughout her book; finding the balance boils down to the interactions you have and relationships you develop. “Try to get into the other person's head, understand what's motivating them, what they value," she says, “because when you do that, it's empathy, and that will allow you to connect with anyone on a much deeper level."
“The Myth of the Nice Girl" is in bookstores now, and while Hauser first published it to encourage women in their early careers to excel with kindness, she's found a response from women of all ages as a transformative, learning experience.
Business entities can be defined as the corporate, tax and legal structures which an organization chooses to officially follow at the time of its official registration with the state authorities. In total, there are fifteen different types of business entities, which would be the following.
- Sole Proprietorship
- General Partnership
- Limited Partnership or LP
- Limited Liability Partnership or LLP
- Limited Liability Limited Partnership or LLLP
- Limited Liability Company or LLC
- Professional LLC
- Professional Corporation
- Nonprofit Organization
- Cooperative Organization
As estates, municipalities and nonprofits do not concern the main topic here, the following discussions will exclude the three.
Importance of the State: The Same Corporate Structure Will Vary from State to State
All organizations must register themselves as entities at the state level in United States, so the rules and regulations governing them differ quite a bit, based on the state in question.
What this means is that a Texas LLC for example will not operate under the same rules and regulations as an LLC registered in New York. Also, an LLC in Texas can have the same name as another company that is registered in a different state, but it's not advisable given how difficult it could become in the future while filing for patents.
To know more about such quirks and step-by-step instructions on how to start an LLC in Texas, visit howtostartanllc.com, and you could get started with the online process immediately. The information and services on the website are not just limited to Texas LLC organizations either, but they have a dedicated page for guiding fresh entrepreneurs through the corporate tax structures in every state.
Sole Proprietorship: Default for Freelancers and Consultants
There is only one owner or head in a sole proprietorship, and that's what makes it ideal for one-man businesses that deal with freelance work and consulting services. Single man sole proprietorships are automatic in nature, therefore, registration with the state is unnecessary.
Sole proprietorships are also suited to a degree for singular teams such as a small construction crew, a group of handymen, or even miniature establishments in retail. Also, this puts the owner's personal financial status at jeopardy.
Due to the fact that a sole proprietorship entity puts all responsibilities for paying taxes and returning loans, it directly jeopardizes the sole proprietor's personal belongings in case of a lawsuit, or even after a failed loan repayment.
This is the main reason why even the most miniature establishments find LLCs to be a better option, but this is not the only reason either. Sole proprietors also find it hard to start their business credit or even get significant business loans.
General Partnership: Equal Responsibilities
The only significant difference between a General Partnership and a Sole Proprietorship is the fact that two or more owners share responsibilities and liabilities equally in a General Partnership, as opposed to there being only one responsible and liable party in the latter. Other than that, they more or less share the same pros and cons.
Registration with the state is not necessary in most cases, and although it still puts the finances of the business owners at risk here, the partnership divides the liability, making it a slightly better option than sole proprietorship for small teams of skilled workers or even small restaurants and such.
Limited Partnership: Active and Investing Partners
A Limited Partnership (LP) has to be registered with a state and whether it has just two or more partners, there are two different types of partners in all LP establishments.
The active partner or the general partner is the one who is responsible and liable for operating the business in its entirety. The silent or investing partner, on the other hand, is the one who invests funds or other resources into the organization. The latter has very limited liability or control over the company's operations.
It's a perfect way for investors to put their money into a sector that they are personally not experienced with, but have access to people who do. From the perspective of the general partners, they have similar responsibilities and liabilities to those in a general partnership.
It's the default strategy for startups to find funding and as long as the idea is sound, it has made way for multiple successful entrepreneurial ventures in the recent past. However, personal liability still looms as a dangerous prospect for the active partners to consider.
Limited Liability Company and Professional LLC
Small businesses have no better entity structure to follow than the LLC, given that it takes multiple good ideas from various corporate structures, virtually eliminating most cons that are inherent to them. Any and all small businesses that are in a position to or are in requirement of signing up with their respective state, usually choose an LLC entity because of the following reasons:
- It removes the dangerous aspect of personal liability if the business falls in debt or is sued for reparations
- The state offers the choice of choosing between corporation and partnership tax slabs
- The limited legalities and paperwork make it suited for small businesses
While more expensive than a general partnership or a sole proprietorship, a professional LLC is going to be a much safer choice for freelancers and consultants, especially if it involves risk of any kind. This makes it ideal for even single man businesses such a physician's practice or the consultancy services of an accountant.
B, C and S-Corporation
By definition, all corporation entities share most of the same attributes and as the term suggests, they're more suited for larger or at least medium sized businesses in any sector. The differences between the three are vast once you delve into the tax structures which govern each entity.
However, the basic differences can be observed by simply taking a look at each of their definitive descriptions, as stated below.
C-Corporation – This is the default corporate entity for large or medium-large businesses, complete with a board of directors, a CEO/CEOs, other executive officers and shareholders.
The shareholders or owners are not liable for debts or legal dispute settlements in a C-Corporation, and they may qualify for lower tax slabs than is possible in any other corporate structure. On becoming big enough, they also have the option to become a publicly traded company, which is ideal for generating growth investments.
B- Corporation – the same rules apply as a C-Corporation, but due to their registered and certified commitment to social and environmental standards maintenance, B-Corporations will have a more lenient tax structure to deal with.
S-Corporation – Almost identical to a C-Corporation, the difference is in scale, as S-Corporations are only meant for small businesses, general partnerships and even sole proprietors. The main difference here is that due to the creation of a pass-through entity, aka a S-Corporation, the owner/owners do not have liability for business debt and legal disputes. They also are not taxed on the corporate slab.
Cooperative: Limited Application
A cooperation structure in most cases is a voluntary partnership of limited responsibilities that binds people in mutual interest - it is an inefficient structure due to the voluntary nature of its legal bindings, which often makes it unsuitable for traditional business operations. Nevertheless, the limited liability clause exempts all members of a cooperative from having personal liability for paying debts and settling claims.
This should clear up most of the confusion surrounding the core concepts and their suitability. In case you are wondering why the Professional Corporation structure wasn't mentioned, then that's because it has very limited applications. Meant for self-employed, skilled professionals or small organizations founded by them, they have less appeal now in comparison to an LLC or an S-Corporation.