Category Archives: Charlotte

Starting a Company: When Do You Quit Your Day Job?

At a recent Charlotte Business Group event I moderated a panel on entrepreneurship. We hit various topics that provided the audience with a ton of value, so I wanted to share some of the key takeaways from the discussion with you. The event featured a great group of local entrepreneurs that covered a wide range of topics about starting, and running, a company.

Our panelists included:

To begin, as far as the “when do you quit your day job” question, there wasn’t a specific answer that fit everyone, as it’s a deeply personal situation. It truly varies for every individual. And in some cases, the answer is never. So, as you can imagine, most of the conversation surrounded providing details about what worked for each of the panelists, as well as them offering various ideas with respect to the way they thought about (act acted on) that at the time.

That being said, below are some of the key takeaways from the evening. There was a lot to unpack and share so I may come back and edit/add more in the coming days.

Ideas for businesses come from a variety of places. In some cases, you can innovate, break, and then reinvent the wheel. In others you can make small tweaks to existing business models that work elsewhere. Or you can find a specific niche and build from there. Business opportunities arise from a multitude of potential catalysts. One great takeaway that stuck with me was to use Bill’s “if you spend 30 minutes researching a problem and aren’t sold something (i.e. served ads) within that time frame you just might have a business idea.”

Just Start. You need to have a little bit of risk involved; you can never get rid of it completely so don’t let that keep you from starting. You don’t need to have absolutely everything figured out. The important thing is to take action consistently. Bill had another great gem; he created a list of 100 things/task and did 1 a day. By sticking to that he started his company in 100 days.

You don’t always NEED to quit your day job. It’s ok to keep your day job long term, keep it for a while as you get traction in the business, or “jump off the cliff and build the plane on the way down.” Everyone has a different risk tolerance and level of resources available to them. Others like Chris just like and prefer continuing to keep their job as they grow their businesses and don’t feel the need to quit.

Know your target market. Learn about what they value, the problems they need solved, and what needs they need met. These are the fundamental elements of launching a business. Market fit is crucial to identify the initial opportunity. Scalability comes later.

Create systems to lean on. As you build your business you want to create systems, procedures, automations, etc. to make sure the business can (eventually) run without you. You don’t need the latest and greatest technology for this, just implement processes that work to help you stay on top of managing everything as things can get overwhelming quickly.

Delegate the things you’re not good at. Pretty much everyone mentioned getting a good bookkeeper/accountant to manage the finances (as that wasn’t necessarily any of their strengths). That’s just an example to reiterate that in order to grow your business you need help and need to be able to delegate the tasks that aren’t suited to your strengths. This may take time as resources are limited, you may need to wear many hats in the beginning, but make this a priority as soon as you can.

There are a variety of ways to fund your business depending on your goals. This is yet another personal preference. Some people bootstrap, building with sales and revenue as they go. That was Elechia’s preferred approach as she met with doctor after doctor, potential patient after patient and growing along the way. Others raise money from investors to continue growing and scaling. You can also leverage debt with SBA loans, etc. There is plenty of research out there about ways to fund and grow your business.

Know what your long-term goals are. While you don’t need to do this first, eventually you should try to have an exit strategy in mind (or the lack there of) as you initially build your business. Whether you plan to eventually sell it, build a business you want to work at for the long haul, or simply want a side-hustle, they’re all fine as long as you’re transparent and honest with yourself and your partners.

All that being said, it’s ok to just have a short-term side hustle that only lasts a year or two and provides some additional income along the way. There doesn’t have to be a long-term vision if that’s your primary objective. As was mentioned several times, each situation and individual is different.

There are many other things to consider when starting and running a business. This was just a small snapshot of a great evening filled with plenty of additional takeaways. What are some of the things you’d add to the list?

The Charlotte Business Group has a lot more educational events like this planned where we share knowledge and experiences from local professionals. We aim to continue nurturing the business and entrepreneurial spirit and providing opportunities for the community to do so. Make sure to keep an eye our for the upcoming schedule!

navigating networking

Navigating Networking

Recently at the Charlotte Regional Business Alliance’s 2nd Annual YP Leadership Convergence: Navigating the Career Jungle Gym (#YPLeaderCon) I moderated a panel about networking. This break out session was one among many others, along with some incredible keynote speeches and a great day full of, well networking.

The panelists I interviewed were:

Since we received such great feedback from our session, I wanted to share a few of the key points with you to highlight some of the primary takeaways.

Be authentic and a real person. People can spot a fake pretty easily and know when they’re just being sold. Begin a conversation with cultivating a real connection by being transparent.

Get to know people for who they are, not just their job. Yes, it’s common that the first thing people often ask in a networking setting is, “What do you do?” But you’re allowed, and encouraged, to take a different approach.

The elevator pitch: Yes, you should have one, but know when to use it. When to use the elevator pitch often comes much later in a conversation, and typically when it’s prompted by the other person. You should be able to comfortably speak about who you are and what you do naturally of course, but generally you can keep the elevator pitch in your back pocket.

Add value to others and give back. Every interaction doesn’t always lead to a sale or referral right off the bat. Rather, those often take time (roughly 5-7 touch points on average). If you focus on adding value to others first and going out of your way to help them it’s more likely that will be reciprocated later. That’s not a guarantee that it will. But trust us, just try it and see how well it works out for you.

Be strategic about where you spend your time. We all have a limited amount of time in the day. Be thoughtful and which events you plan to attend in order to get the most value for your precious time. Further, when you do commit to attending an event make sure to bring your best self and be present.

Leverage technology, (i.e. your phone, Outlook, LinkedIn, a CRM system, etc.). It’s pretty much impossible to remember every single person you meet, who you’ve made plans with, or where you met them, among the infinite amount of information we consume each day. Create a system and make sure to use it. If it’s in real time the better. Add their contact info into your phone and send the calendar invite right then and there (when appropriate) to maximize efficiency.

Follow Up! This is by far the most important tip yet so many people fail to do it. As they say, “the fortune is in the follow up”. Try to do so in as timely a fashion as possible to ensure you continue cultivating the relationship.

There are plenty of other networking guidelines to adhere to, what are some of yours?

 

For additional context on the YP Leader Con conference’s theme this year the description was: “The career path for a young professional often looks more like a jungle gym than a corporate ladder. During a full day of learning and exploration, you’ll gain insight from a diverse array of speakers with varied career and leadership paths.” It was a dynamic day packed with incredible content. If you live in, or near Charlotte make sure to sign up for next year’s conference!

2019 YP LeaderCon

 

On August 2, 2019 I had the pleasure of attending the second annual YP LeaderCon held by the Charlotte Regional Business Alliance. The event was at the beautiful UNCC City Center and brought together emerging leaders from around the Charlotte region. By attending this event I was given an opportunity to learn and grow, hearing from speakers and other professionals in their 20s and 30s while validating the steps I am taking in beginning my professional career and helping to grow my personal brand.

 

The sessions I attended included a range of topics including networking, financial planning, the power of professional organizations, and the importance of mentorship in personal and professional situations. Across these sessions a common theme continually arose which was the power of taking ownership of your actions and directing the course of your life.

 

Beginning a career is certainly challenging requiring an individual to balance paying off debt including student loans, becoming acclimated with the culture of your new job, navigating the job market, and deciding which professional organizations to join and prioritize which events to attend. Sometimes the most important thing to do during the initial years of your career is to establish the skills that will drive your entire career while also understanding what attributes you value. We can become so accustomed to saying yes that saying no to things that do not provide value to our lives should be where we focus our main energy.  Having an understanding of the things we truly value will help prioritize decision making and reduce time spent on unnecessary actions.

 

During the event, a topic that was highlighted across sessions is the importance of seeking help from others.  The session led by Lisa Medley explored the value and importance of seeking out resources through mentorship, sponsorship and coaching. Many people understand the importance of mentorship from the professional sense yet the aspirational, personal, and family should be used to create buckets of different mentors to become a better person across all aspects of your life. This is an area I will look to improve on by seeking additional mentors and using the people around me as resources. By gaining skills and relationships from mentors I will be able to learn from them while also providing them new skills as I continue to form strong relationships through mentorships and as I progress in my career further mentoring others with the information I learn.

 

I value the time and the opportunities I had during the YP LeaderCon and the importance the Charlotte Regional Alliance places on growing young talent in the entire metropolitan region. Seeing professionals beginning their careers I could see the dynamics of the modern workforce as I gathered with young professionals who worked for startups, Fortune 500 companies, and regional firms with a strong presence in Charlotte. One of the top reasons I am proud to call the Charlotte area home is the commitment to fostering business relationships and improve the entire community. The hints of Southern charm that are spread across the shining city of Charlotte shows the power of the New South. The sessions were filled with young people from across the country who have moved to Charlotte because of its robust job market and abundance of recreational activities. This trend should continue as more people and companies are attracted to the region and top talent is retained to ensure sustainable growth across the entire Charlotte region into the future.

Student Athlete tackles MBA Program by Evan Shirreffs

Beginning A New Challenge

It was the spring of my final year at the University of Miami. With graduation looming as a bittersweet moment only a few months away, I was left with two options: start my career in the real world or pursue an MBA with my last two years of eligibility in football. While both choices fostered great upsides, I chose to pursue my MBA as it became apparent that football was too large a part of my life to let go of. Thus, I began my search for the ideal university to meet my needs.

I struck gold when I came across the campus of UNC Charlotte, a school that I knew little about despite being only three hours from home back in Georgia. A quick drive up I-85 told me all that I needed to know; I had found my new home in this not too big, not too small city.

Situated in the Queen City, UNC Charlotte and its subsequent location proved to have everything I was looking for. An up and coming football team with all of the potential to become a nationally-known program, a flexible MBA program that paired well with the demanding hours of football, and a lively Uptown area filled with endless possibilities for young professionals looking to succeed in business.

 

Starting Anew

After committing to Charlotte, questions began to build surrounding my upcoming experience as an MBA student. What would it be like to start all over again in a new city? Would the classes be as taxing as undergrad? What would my classmates be like? As the questions swirled, so did my own answers in the form of expectations. To ease my tensions, I told myself it was just some more school; it would be the same as high school and undergrad. Although I was somewhat right, most of my expectations were far from reality.

As time passed in the MBA program, I realized how it differed from undergrad studies. Classes actually encompassed learning and growing instead of memorization and repetition. I began to soak up information from not just my professors, but other students in my classes. All of my classes were filled with people older than me by 5, 10, and sometimes 20 years. As intimidating as this seemed at first, it could not have been any better for my development.

Despite my lack of traditional professional experience, I was lucky enough to hear the real-life experience of all of my classmates who already had years of experience in various fields: engineering, entrepreneurship, music, healthcare, you name it. Everyone seemed to have a unique story and everyone seemed to think differently. Mixers, guest speaker, and other MBA events soon became regular parts of my schedule to meet people and build friendships.

 

Becoming Situated

Comfort came in accepting the different perspectives of my peers. They enjoyed my young optimism; I enjoyed their experienced pessimism. I was often able to learn what not to do without having to experience some of the rock-bottom stories shared by my peers.

Do not get me wrong, moving to a new place and essentially starting over is one of the hardest things to go through in life, but luckily, I have been able to realize the magnitude of the impact this move has had on my future. As I thought the new school and city could not get any better, an unexpected cherry was placed on top of an already promising experience.

 

Seeing the World

Throughout undergrad, I had dreamed of studying abroad, but with football occupying my time and energy, this merely remained a dream. Charlotte turned this into a reality when I got a random email about a trip to Europe during winter break. It was a two-week seminar course in Lyon, France during the only time of the year that I had off from football. It truly put into perspective the great opportunity I had seized in packing up from a promising future in Miami to move to an up and coming program at Charlotte. The Queen City has proved to have everything I was searching for in a school, football team, social life, business opportunity, and unexpected fruition of my dreams.

Summer Reset

Where has the year gone!!!??? Is this a thought that is going through your mind too? The calendar has turned to June and the temperature has increased. The summer travel season kicked off Memorial Day and will last through Labor Day with millions of Americans taking trips from National Parks to beaches. In addition to the much-needed break and the refresher a summer vacation offers the opportunity to revisit goals from earlier in the year, make new goals, and improve the world around you.

 

The best way to hold yourself accountable to goals is to set ones that push you towards success while having realistic time frames. Instead of making a series of goals in January for the entire year plan out different times in the year for goal setting and make more realistic goals. Break down goals by season and plan goals for the winter, spring, summer, and fall. Now that the summer is here take some time to take steps back and revisit what priorities you have. During this season of travel and relaxation goals and improved decision-making go hand in hand.

 

Everyone has different ways of formulating goals and inevitably you are the best person at determining if you can reach your goals. By understanding how some of your past goals have gone future goal making may be easier to make. I know that for me I need to be in the right mindset to begin making goals and often set time aside to clean and organize things to push myself into setting and achieving my goals. The beautiful thing about people is that everyone is different, and no two people will take the same path and establish the same series of goals. Instead of following the conventional New Years Resolution, find a system that works for you to create goals so that you are working with a strong framework to ensure that the path you set out on is built with a good foundation.

 

As the warm months of June, July, and August take hold I will offer a few suggestions on how you can get into a mindset to help yourself make the most effective goals on both the personal and professional level. Take time to unplug and walk away from technology to revisit where you stand in your life and what changes need to be done. The noise of the internet, particularly social media, can drive decisions to be based on short term outcomes and not with a focus on long-term sustainability. Take a weekend or a week to go and experience the world outside of the internet sphere and use this experience to think about and prioritize what is important in your own life.

 

Whatever goals you set aside take the time to identify someone who can help you along the process. I am a strong believer in collaboration and the power it can add. Seeking assistance when needed shows the ability to take a step in the right direction while working through processes with someone else and gain their opinion. Listening to others is important and can be difficult, more so for some people.  Listening to others and taking the time to gather information and talk things out with others before making critical decisions can be crucial. Being in the right mindset and talking with others can spur new ideas and open new perspectives.

 

Summer serves as an opportunity to visit new places, grilling with friends, and taking family vacations which provide lifelong memories but also can cause stress levels to increase through planning and coordinating group activities. These projects and endeavors should be undertaken in a meaningful manner where they serve the goal of making everyone’s experience more enjoyable. Take the time to make reflections on what occurred and use these experiences to strengthen your goal making process.

 

The summer is not a break but should serve as a reset period. Our world is constantly going at full pace yet many of the most important things that will happen in our lives are the simple things that we might miss if we do not take the time to enjoy them. Take the time moving forward to thank those around you in service industry positions, write meaningful handwritten letters to loved ones, and partake in community events to improve the place where you live. These rewarding tasks will reap many rewards and can improve your outlook on life and push you to make better decision while also becoming more present in your life. We only get one life to live so let’s take steps to make it the best life we can for ourselves and those around us. Start with the simple things making an effort to improve your life and in the process making the world around all of us a better and more civil place because it is needed more than ever in our current time.

2019 World Cup

2019 FIFA World Cup

From June 7th through July 7th the FIFA Women’s World Cup will be held across nine French cities to be crowned as the best team in the world. This serves as one of the major sporting events of the year and will draw major media attention from around the world. The start of the World Cup is less than two weeks away and the events of the games will be the culmination of years of hard work and dedication by players, coaches, and event organizers.

Major sporting events like this serve as an insight into the complexities of organizing major events on the world stage with world class athletes and major global media attention. Project management from coaching and players making complex decisions in the middle of a game to the years of planning from local and national politicians, business owners, and stadium operators. From the soccer pitch to the logistics and planning all aspects of the Word Cup must be planned out using project management frameworks from executing to reflecting on how plays and designs play out.

 

The Game

The course of a sporting event provides many opportunities to take on leadership roles under pressure and uncertainty. This includes the opportunity for players who have smaller roles to make major plays to shape the outcome of the game. A good team member will understand that their individual decisions to the collective decisions made by the team will position itself in a better overall position even if certain players must limit their role on the team to improve the cohesiveness of the team.

The glory of scoring the winning goal can only occur behind the decisions made by players on the field under the instruction of coaches, dietitians, and a complex training regimen. The ability to get a team into championship shape occurs over years and is not an overnight process. This is a lesson which everyone can learn when working on projects. To succeed putting in the time is necessary. Every team needs a strong support system who can provide tips and help along the process from inception to completion. The stars of the American soccer team have been training and finalizing their preparations for the World Cup, in a similar way to how officials from FIFA and across France are in the final stages of preparing venues for the World Cup.

 

Setting the Stage

The players, media, coaches, and fans who will be descending on France will be staying at accommodations and attending games across the country in stadiums from Paris to Nice. The work that goes into preparing for a World Cup goes far beyond the soccer field and includes upgrades to stadiums and constructing new amenities for those visiting France. When the World Cup commences remember it is a marvel in project management from the perspective of the players, the decisions they have made leading up to and during the games, along with the organizers of the event, the decisions they have made in the past and the decisions they make through the Word Cup.

Pineapple Consulting

WIMS Client Spotlight: Pineapple Consulting

Pineapple Consulting Firm was created with only one goal: to help small businesses succeed. It helps how synergistic that is with WIMS Consulting, as not only is there a client relationship, but it really fits our model of creating partnerships too.

While Pineapple is eager to help however they can, they have a particular specialization centered around analytics and efficiency. Specifically, they are wizards when it comes to Excel, spreadsheets, lead generation, and project management (something we’re really interested in helping businesses with right now at WIMS Consulting too).

Their service offerings include:

  • Data Analytics
    • Inform decisions and strategies for the best results.
    • Data gathering, manipulation, and visualization with expertise in Excel.
  • Financial Analysis
    • Cost benefit analysis, Financial modelling and projections all in customizable Excel tools.
  • Project Management
    • Lead a project from idea development all the way to post-execution monitoring.
  • Lead Generation/Data Scraping
    • Extract leads and data from online and present it in easily manageable files.

They work with a wide variety of industries, but have a niche surrounding professional service firms. Pineapple’s founder has an extensive background in the financial services and wealth management industry. However they also work with startups of all sizes, accounting, banking, insurance, real estate, non-profits, and health care among others.

The company is based in Charlotte, NC but of course is able to work with clients from throughout the country.

Click here to check out their website and let them know that I sent you!

2019 Small Business Week

 

 

This week, May 5th to May 11th, 2019, is National Small Business Week, which is a great time to think about the importance of small businesses in our economy. In addition to this piece I would also direct you to my colleague Michael Simmons piece on 2019 Small Business Week which is filled with valuable Small Business Resources. In this post I will be looking into the data behind small businesses in America and tackle some of the FAQ’s about small businesses. During this week small business owners and their employees are celebrated for their contributions to the economy, society, and their local community. The value of these companies goes well beyond the economic impact they provide as they contribute to the culture and identity of local communities.

 

Small Business Data

 

Small businesses across America serve as the engine steering economic growth of the economy in general. The Small Business Association’s Office of Advocacy has complied data and answers to common asked questions about small businesses. There are over 29.6 million small businesses in America and these organizations create many jobs in all corners of the nation. The impact of these small businesses account for 63% of net new private-sector jobs created and in total account for 59 million jobs which is almost half of all jobs across the nation (47.5%). These figures are impressive and show the scope and volume of economic activity provided by small businesses.

 

Small Business FAQs

 

What is the composition of small businesses in the US?

The role of small businesses is felt across the US economy and contributes to the economy in different ways. Most of the small businesses are nonemployer firms, in total these firms account for 80% of small business and number around 24.3 million of the 30.2 million businesses while the other 20% of small businesses, around 5.9 million total businesses have paid employees.

 

How do these small businesses fit into the wider economy?

Some of the stats regarding the importance of small businesses to the greater economy are very impressive and show how the greater economy would greatly suffer. This includes the 40.8% of all private-sector payrolls paid by small business and 32.9% of known export value amounting to $440 billion of the total $1.3 trillion in export value. These figures show the value that small businesses create and highlight how the resilient business leaders across America and beyond generate economic growth through the power of exports.

 

What is the survival rate of small businesses?

The one-year survival rate of businesses started in 2016 was 79.8%, the most recent data available meaning that almost 4 in 5 businesses survive their first year. The five-year survival rate has differed over the past decade with firms started in 2006 and weathering through the great recession have a 45.4% rate of still being in operation after five years. Companies established in 2011 as the economic recovery was into effect had a five-year survival rate of 51% showing how external macroeconomic factors also have an impact on the survival rate of a small business.

 

Small Business Week Actions

 

Everyone can take some small steps to support small businesses both this week and throughout the year. Buying from small businesses when possible is one way to support them and offers the opportunity to learn about the business owner and their employees. From here a connect and relationship can be formed with the business and then the business can become a part of your routine. In addition to becoming a customer of different small businesses people can lobby local and national politicians to support legislation that is favorable for small business growth. One of the simplest ways to help small business owners is to thank them for what they are doing and provide validation that they are making a meaningful impact on the community.

 

Sources

 

National Small Business Week. SBA. U.S. Small Business Administration. https://www.sba.gov/national-small-business-week.

SBA Office of Advocacy. Frequently Asked Questions, August 2018. https://www.sba.gov/sites/default/files/advocacy/Frequently-Asked-Questions-Small-Business-2018.pdf.

Simmons, Michael. “WIMS Celebrates National Small Business Week 2019!” WIMS Guide. https://www.wimsguide.com/tag/small-business-week/.

 

Project Management

 

The business world is shaped by the ability of organizations to effectively manage and execute projects in a team environment. Projects stand at the center of any idea and serve as the means of turning ideas into meaningful action. From the planning through executing and reflection on the project constant communication and decision making is needed to direct the project in the best direction. The ability to have leaders in an organization who can direct resources and personnel during uncertain times will reap many benefits for the entire organizations ability to provide the best quality solutions.

 

The value of project management stands out in the business world as a core competency which focuses heavily on operating the project. This includes reinforcing leadership decisions, maintaining project goals, and ensuring open communication occurs between stakeholders. Project leaders provide efficiently run projects developing a unique project management strategy which fits the specific needs of your organization. To improve your own project management skills, an in-depth view of the definition of a project from the Project Management Institute (PMI) will be examined. Some of the different project management frameworks will also be examined along with the dynamics of teams including the Five Stages of Group Development. Understanding the differences in project management frameworks as well as what constitutes a project and the ability to help develop and lead teams will become more ingrained into the core of your organization. The ability to understand how to construct your time and resources on projects will reap rewards and allow for more goals to be on time and under budget.

 

Project management is a skill set which does not fit into the boxes of specific industries or mindsets but encompasses the changes and complexities of a project over the course of its lifespan. Every project that is implemented changes and faces unique challenges and uncertainties yet the most telling sign of the success of the project is how the team reacts to changes and uncertainty. Effective project management will not solve all the uncertainties of projects yet that is not the purpose of project management and effective leadership. Project management serves as a framework to keep the project on course and ensure that the team can stay on track during good times and the more difficult times. Instead of being an exact science project management combines specific industry knowledge, emotional intelligence, and team building to create the most innovative solutions for teams and allowing teams to perform at their highest level.

 

Project Management in Perspective: The Panama Canal

 

Project Management in Action

 

Earlier this month I had the pleasure of volunteering at a meaningful event held by PMI (Project Management Institute) Metrolina Chapter for members of the military who are about to transition into civilian life. The 3rd Annual Veterans Transition & Skillfest Event serves as outreach to military personnel from the Fayetteville area interested in learning about career paths and certifications in project management.

 

This is a great event which provides networking and education to military members who are about to transition into civilian life. This event also centered on some of the connections between the military and project management including a look at some of the historic additions made to the project management world by the military. One of the most significant lasting contributions from the military world on project management was the construction of the Panama Canal, which was a decades long project that including death, corruption, innovation, uncertainty, and finally triumph.

 

 

Historical Foundation of Project Management

 

The discussion of the Panama Canal project and other important historical projects including the D-Day Invasion was a central theme of the keynote speech given by Jay Hicks. Hicks is a Florida based author of a series of books on military transition including The Transitioning Military Project Manager. The aspect of his presentation which I found most meaningful was centered on the historic relationship between planning effective projects and the military.

I believe looking to the past is a good way in understanding the underlying values of a topic. This is true in project management which is used across industries and has a foundation in the US Military. To understand the value that project management can add to an organization understanding from past projects and noting lessons learned from these past projects is one of the best ways to enhance project management terms.

 

This can be used by those looking to get started in the project management field, amateur historians interested in learning more about history, and those interested in gaining a better understanding about geopolitics. I am interested in all of the above areas so the chance to write and share some of this history is something I find to be intellectually delightful. So, let’s venture to the Isthmus of Panama and see how the improbable connection of the Atlantic and Pacific Ocean forever changed the world.

 

 

A Complex Project

 

The military undertook some of the most complex projects of the 20th century under the leadership of effective project planning and effective execution. Of all these projects the Panama Canal project which was completed under the direction of the Army Corp of Engineers stands as one of the most important.

 

 

The Panama Canal and Project Management

 

The most significant contribution to the world of project management from the Panama Canal project was the construction of the first work breakdown structure (WBS). This is a concept that is central to the core of operating and maintaining projects under budgetary and time constraints.  In the century since this project, practitioners around the world have implemented WBS into projects across the world to deconstruct the cost and schedule of a project into manageable pieces to best accomplish the project. By reframing the project into many pieces which need to be accomplished to reach the final goal the schedule of the project can better be handled, and the cost structure become more manageable. Over a century after the project began the WBS is still a major tenant of project management across industries showing the value that this adds to constructing and operating efficient projects.

 

 

The French Experiment

 

The French undertook the first attempt at constructing a canal across the Isthmus in the 1880s and was highlighted by corruption and ineffective project execution. The rampant spread of illness was a main factor behind the reason that the project was forced to be abandoned. In addition to this corruption, poor execution led to the halting of construction in 1889. The human cost of this ineffectiveness was massive with over 20,000 deaths. While the main factor behind the failed project was illness it was exacerbated by poor management. Although few projects will fail this spectacularly the understanding that projects often fail because of a range of factors which are made worse by ineffective leadership. The takeaway from this is that understanding that poor leadership is never the singular cause of a failure but can make shortcoming become more extreme and can lead to setting up a project for failure from the beginning.

 

 

The American Experiment

 

The history of this project tells a compelling story about a project on a massive scale which provided many technological innovations and helped propel the US onto a platform as a world leader during the 20th century. It is hard to believe but through the early 20th century the US was still seen as a minor player on the global stage with a few colonial holdings. By constructing the canal, the US was able to stand out as the undoubted leader of the western hemisphere and allow the US to shape the politics and international relations of a complex century.

 

By the time of the presidency of Theodore Roosevelt the ideas of constructing some type of canal across Central America dated back hundreds of years. The initial thoughts of construction on a canal began during the Colonial period of the 1600s and marked one of the first global projects undertaken by the US. This period was historically important as the US expanded onto the global stage during this era and the construction of the Panama Canal proved the leadership and effectiveness of American execptionalism. The success of the project centered on the ability to shift and build off the failures of the French project.

 

The first year of construction by the Americans appeared like the French project with high turnover rates and major financial losses. Eventually, the arrival of a new chief engineer, John Stevens led to a unique approach to the construction by not building but by building up the surrounding infrastructure of the construction zone beginning with eradicating the diseases which were so rampant. This major undertaking occurred by bringing in Dr. William Gargas who had previously worked to eradicate yellow fever in Cuba.

 

 

Creating Infrastructure

 

By spraying chemicals in the Panamanian jungle, the threat of diseases from mosquitoes was mitigated allowing for the work to begin on the supplemental infrastructure needed to complete the construction of the canal. Towns grew from the jungle as swamps were drained and critical infrastructure was completed. By breaking the project into manageable steps, the scope of the project grew from merely building a canal to limiting the factors which caused illness and creating the infrastructure needed for success. By repositioning what work was necessary to be undertaken the Panama Canal was able to be completed. This success shows the importance of planning for the intermediate steps and understanding that changes in the project will strengthen end results and overall efficiency of the project.

 

To understand the impressive feat the Americans accomplished by finishing this project it is important to examine the long and complex history surrounding the construction of a canal. A good place to take a further look is the attempt by the French to construct a canal decades before the Americans undertook a similar plan. This endeavor provides an example of the complexities of building a canal and some common themes that stand in the way of effectively executing a project to completion including rampant corruption.

 

 

Final Thoughts

 

With such a strong history the military and project management have gone hand in hand for generations. Long before the corporate world adopted project management the military was utilizing complex projects under quasi project management offices from the Army Corp of Engineers as they constructed the Panama Canal during the early 20th century. The addition of the work breakdown structure (WBS) allowed this complex construction project to be deconstructed into a series of manageable tasks along the course of the project.

 

The completion of the Panama Canal stands as one of the greatest engineering accomplishments of all times. Combine this with the timing of the completion of the project as the US ascent on the international stage highlights the value that effective project management had in this historic event.  The opening of the canal was overshadowed by World War I and the spread of conflict in Europe. The completion of the Panama Canal meant that the Americans had made the steps to enter the top of the world stage influencing geopolitics and forever altering Central America.