1Making sure you have the right goals
Position yourself properly for your next career move.
t may surprise you, but many people actually pursue the wrong job titles. However, if they understood their real transferable skills, they could be repositioned for different goals, and sometimes for much more advancement than they thought possible. Regardless of your most recent position, you need to think of yourself as "one of a kind" with diverse potentials.
We all have seen career fields change dramatically over a decade. Fields that once offered great opportunity have become financially confining with limited growth possibilities. Does print advertising offer the same career possibilities as it did a decade ago? Does selling in the steel industry? Does being a doctor and a general practitioner? Career fields change at a much faster pace than most people realize.
Experience has proven that if you take a narrow view of yourself, you could be making a mistake. For example, if you see yourself as a specialist (e.g., a banker), you may believe you are locked into a given career. On the other hand, you may feel you have few options because you are too much of a generalist.
More and more professionals are finding that they can have several direct careers over the course of a lifetime. Sometimes you can't see them and you stumble into them. Someone could be a radio sports broadcaster, then become an actor, then a politician... and subsequently governor of a major state and president of the United States (Ronald Reagan). And, of course, we all know many other examples, many famous and millions not so famous, but successful at many levels.
It may be that you should consider positioning yourself for more than one possible goal at this time, and running what we refer to as a "dual campaign." For example, a logical step may be seeking a new job as a VP of Marketing. But you might also have accumulated knowledge and experience that would allow you to seek a position as a General Manager, or perhaps Chief Operating Officer, or even Chief Executive Officer in the right type of organization... in the right industry.
Or you may wish to run a search for a higher paying job as a sales producer, while also exploring situations to move into a sales management role.
Many people develop careers that are specialized, but eventually make the move into general management as just mentioned. This includes executives in finance, manufacturing, operations, technology and others. One client of ours was a Director of HR who became a Vice President of HR, and then took a big jump to become Chief Administrative Officer for one of the largest consumer packaged goods firms in America. His responsibilities included overseeing all of the support functions... HR, legal, IT and IS, and so on... everything but manufacturing, marketing, finance and accounting. A former professor and university president became head of one of New York's largest museums in the world, something for which he had a passion.
Career shifts can occur at many levels. For example, a distribution specialist with UPS wanted to get into Human Resources and was successful in moving up at the same time he joined Merrill Lynch.
A project manager in the home building field saw his industry fall into decline. Faced with the prospect of declining income, he used his management skills to join Wal-Mart as an assistant store manager... with the prospect of becoming a store manager within 9 months.
So, as you review possible goals for yourself, you'll want to consider your interests, passions and experiences across a broad range, as well as your transferable skills. It may be that you should create duplicate sets of impressive resumes... each positioning you for different possible goals.
Believe it or not, the federal government tells us that there are 22,000 job titles in use today. However, 95% of all professionals fall within one of several hundred high demand career specialties.
On the pages that follow you will find a list of the 400 most popular occupations... accounting for 95% of all employment in the United States. Sales is still the number one occupation, and it is estimated that 10% of all professional and executive positions are in this field.
So, try to decide on your right career goals. And, you'll improve your chances by pursuing titles that the market makes available in abundance.
The 400 most popular occupations...
Where do you fit... and do any others interest you? Occupations below are listed generically... and do not necessarily refer to the level of job title you might seek... e.g., Marketing Director is listed. Your goal might be Marketing Manager, VP Marketing, Sr. VP Marketing or Chief Marketing Officer.
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Here are the most common major career changes that executives make
95% of the executives who make a major change select one of these options
- They buy a franchise or license.
- They start a new venture.
- They form a partnership.
- They invest, buy and sell.
- They purchase an existing company over time.
- They become writers... or authors.
- They buy a small firm outright.
- They become independent consultants.
- They join an existing consulting firm.
- They manage a nonprofit.
- They work in education.
- They serve on multiple boards as directors.
- They work as sales producers.
- They engage in charitable work.
- They lecture.
- They intern to learn a new field.
- They return to an earlier activity.
- They turn an avocation int
- a vocation.
Let's briefly review the 5 most popular changes
1. Do you want to be a consultant?
The field has seen tremendous growth. If you decide to become a practicing consultant, your perceived professionalism will be very important. Thousands of people begin thriving consulting practices each year. Recognize that you will need some form of specialty if you are to get off to a fast start. For those attracted to consulting, remember, the knowledge you have to offer must somehow be sold. Success rests squarely on your ability to attract and keep clients. And, the biggest reason for failure is that people don't foresee the business development effort required.
If selling is not your suit, but you feel you have a great deal to offer, you will have to attract one or more partners or employees who will sell your services.
Some of the most popular consulting specialties include finance, marketing, new product development, IT and systems, executive search and outplacement, cost reduction, and public relations. There is also good activity in labor relations, engineering, design, and other technical disciplines.
If you would rather join an existing firm, there are thousands of organizations that can benefit from adding new talent. It is an easier way to get started than striking out on your own.
Regardless of the type of consulting you choose, remember that the special knowledge that makes a consultant valuable today may be obsolete in a few years. So you'll need to keep current. If you enjoy variety and intellectual challenge, consulting could be your right move.
2. Could you work as a producer?
Producers bring in business. Some examples include recruiters, financial planners, stockbrokers, real estate brokers and outplacement specialists. If you have contacts and need a shift, this role can be attractive. There are opportunities for producers in every discipline. The key is to focus on something you can do well, and that you enjoy doing.
3. Can you make an investment in some form of ownership?
Some executives have capital and look to find an opportunity where their efforts and capital can be joined to offer them entrepreneurial rewards.
Perhaps you have some ideas about improving a product or product line that is already being marketed. Or, you may be able to put together financing for a firm's needs. Your ability to raise capital from VCs, private investors or even friends could be critical.
These situations are most appealing when your skills complement those who are in a business with promising potential. What's more, you can pick businesses that offer you the degree of involvement that you prefer. For example, opportunities that require limited involvement might include businesses with multiple units of car washes, laundromats, theaters, apartments and parking lots.
Small chains of specialty stores can also be candidates... e.g., pet shops, nurseries, sporting goods stores and marinas, and product lines such as computers, men's clothing, or gourmet foods and wines. Other possibilities include small restaurants and inns, printing services, and small manufacturing plants.
Many existing businesses have good potential but need talent and capital to get to the next level. Associating with existing businesses in real estate may also be suitable despite current economic conditions... e.g., a company seeking to capitalize on vacant land, small commercial buildings, single or multiple family residences, abandoned factories and government repossessions. Employee-investors have earned millions, but the risks can be high.
4. Are you interested in managing a nonprofit or working in education?
Surprising to some, there are more than 20,000 trade organizations, and some are exceptionally well funded. Most trade associations are run like businesses and have similar needs.
In many respects, education is like any other service business. People must be recruited and trained, and facilities must be operated efficiently. Information systems and data processing are needed; funds must be raised and public relations must be maintained. Those with corporate experience will find they are of particular value in the graduate schools of business. In fact, a number of universities have former corporate officers as professors, administrators, heads of development and fundraising, and deans of their business schools. Here, an advanced degree is usually a prerequisite. Those who favor teaching or lecturing may still gravitate to management.
5. What about being on a few boards?
Many executives who can bring prestige and experience to smaller corporations become sought after for directorships. However, it usually takes some planning. When you have served on one board, you will likely be invited to join others.
That is particularly true if you have experience that is apparent to nominating committees. In fact, directorships on just three or four corporations, along with committee work, can often provide adequate income and challenge.
Some stock exchanges can direct you to clearinghouse services for executives interested in directorships. It is also possible to run a campaign aimed at existing directors, investment bankers, lawyers and CEOs by discreetly inquiring whether your services might be valuable to one or more of the companies with which they are associated. Obviously, this avenue is most feasible for executives with strong reputations. However, even if this is not the case, it is possible to develop opportunities. Think carefully about what you have to offer that would set you apart.
If you are known as an executive who can increase productivity or cut costs or if you have proven talents in securing financing, making acquisitions, or entering new markets, then it will be easy for many board members and CEOs to envision your contributions. These openings are usually coordinated by the corporate secretary, who may be a good contact. Because directorships now carry more exposure to liability, corporations no longer expect directors to serve for just a nominal sum or without proper insurance.
How important are the right goals? There is no substitute for a job you really enjoy.
There is no question that millions of men and women are settling for jobs or careers that they no longer enjoy. Nevertheless, having the right job can affect your feelings, your family, your energy and even your whole outlook on life.
Do people recognize this? Of course they do. But, when it comes to jobs and careers, most people play it safe. They tend to underestimate themselves and therefore remain in jobs that offer little future. Worse yet, many are in positions that are dull, routine and less than challenging. These people have stopped growing. They are not giving themselves a chance.
Why? Well, it's easier to stay with what is familiar rather than risk the unknown. It is also hard to overcome inertia and take that first step. However, one of the great lessons about jobs and careers is that every person has a reservoir of talents and skills that are untapped. What's more, this unused potential has been proven to exist at virtually all ages.
Interestingly, 77% of all employed professionals say that during the last year they have thought about finding a new job. Yet, most didn't really have the confidence that they could make a good move and never entered the job market.
Why do people finally try and make a move? Here are the results from a survey of more than 4,000 employed but active job seekers, people who were looking for administrative, managerial, professional or executive jobs in 2009. All had attended college. They were free to check any of the items below.
| Why employed professionals think about changing jobs |
Men % |
Women % |
| Enjoy my job but wish to try something else | 22 | 22 |
| Blocked / need higher income* | 21 | 39 |
| Bored / unchallenged | 19 | 21 |
| Not enough enjoyment | 15 | 17 |
| In wrong field / industry* | 15 | 4 |
| Not enough responsibility | 14 | 12 |
| In danger of losing job | 9 | 9 |
| Company / industry contracting | 9 | 9 |
| Feel burned out | 8 | 9 |
| Bad political environment | 8 | 6 |
| Not enough independence | 7 | 7 |
| High pressure* | 7 | 1 |
| Low ego satisfaction | 5 | 4 |
| Not on fast track | 4 | 6 |
| Position was changed | 4 | 4 |
| Not getting along with boss | 3 | 3 |
| Passed over / lost out | 3 | 3 |
| Not in mainstream of communications* | 2 | 11 |
*Factors on which there was a significant difference. This survey was composed of equal numbers of men and women. The asterisk indicates factors in which there was a significant difference. People who were seeking to relocate were not included.
"Procrastination is the thief of time." — Edward Young
Before you search
Understanding the market