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Changing Careers

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Q: I am writing because I am at something of a crossroads in my career and I am uncertain about how to manage it. I have over 20 years of commercial real estate experience and while I believe I am good at what I do, I am not passionate about it. I want something that does more than put food on the table, and in today's market, even that is not assured by any means in real estate!

I am interested in a relatively new, potentially high-growth industry. My sense is that this industry is growing quickly enough that it is drawing in executives from other industries because it cannot supply its own executives from ''organic'' growth. In addition, it seems to me that there are a lot of parallels between my skill sets and the skill sets of execs in this industry.

My challenge it to find a way to get the attention of decision makers in that industry and demonstrate that I can add value to their organizations. Unfortunately, I am struggling with how to move forward. What suggestions do you have?



A: A career change is most of the time difficult, if not impossible. In the part that I deleted from your question, you mentioned certain skills you possess that might well be transferable. I think you have already started identifying some things that might help you. But let’s start at the beginning.

First of all, why are you changing careers? I have heard it said of both professional sports coaches/managers and business executives that there is typically a burnout after 8-10 years in the same job and same location. My own experience would verify that. So let’s look at some very basic questions:
  1. What are the things you like about your current job? Think more along the line of job responsibilities, functions, etc.
  2. What are the things you don’t like about the job? Ditto above.
  3. What attracted you to this job (company) in the first place? What has changed?
  4. What attracted you to this career? What has changed?
  5. What are your most under- (or un-) utilized abilities and talents?
  6. What are the biggest frustrations with the current job? Career?
  7. If you could create the ideal job for yourself, what would it look like? What responsibilities, functions, etc. would it include?
  8. What are the four or five most important things you are looking for in a company? This would include things like size, culture, management style, etc.
When you look at these things, you might find some real surprises. For instance, if you hate getting up at 5:00 or 6:00 every morning and plodding into work (not because of the job, but because you’re just not a morning person), then you should look at a job as your own boss or a bartender.

If you find after this analysis that you still really like the field but don’t enjoy your current situation, maybe it’s time for a change in companies. This is not to say that your company is bad, but if you have been in one company for a long while…well, companies grow, shrink, change direction, etc. What attracted you there in the first place may no longer exist. A good example is MCI. I worked there from 1985 to 1990. When I started, they were a smaller, nimble, aggressive, flatter management company. As they grew into a several billion-dollar entity and as Bill McGowan ceased to be involved in day-to-day operations, they took on more bureaucracy and top-heavy management. This is to be expected in a much larger company. It was still a good company, but in many ways it did not resemble what I was initially attracted to.

The next thing you should do is a 360. Most people know what that is, but in case some readers don’t, a 360 is an assessment of you. You ask bosses, peers, and subordinates to “analyze” you. The most important thing you ask about is your strengths and weaknesses. But you can also ask what role they see you best fitting in, etc. This is often an eye-opening experience. These are the people that know you best. You can certainly ask this of people in your current company. Just tell them you’re doing a little self-improvement. If there are several readers that work for the same boss, don’t all go into his/her office tomorrow and ask for this -- the boss might just get a little suspicious. If your company has a good review process, that can also be a good source for this type of information.

To end this section, you mentioned that you are in the commercial real estate industry, which we all know is in a slump. You have been in the industry for 20+ years, which means you have been through this before. I have experienced the same thing in the recruiting industry. Every time there has been a slump, I have said, “Now is the time to get out.” But when things bounce back I get revved up all over again. I have learned that the secret is to diversify. I have done that by adding coaching and learning some new industry segments. Every industry goes through ups and downs. With the exception of government, there aren’t any that don’t.

If you have reached this point and still want to make a change, there are several things you should do.
  1. Take a “skills and or aptitude assessment” test. I have recommended these before. They are available online, and most colleges also administer them very inexpensively. It might not reveal anything you don’t already know, but then again, you might find something new. Most times these tests will also match you to careers that are the “best fit.” Newer industries, however, might not be included.
  2. Visit the library and look at the government’s list of occupations (which is also probably available on line). This will provide a pretty thorough review of your options.
  3. If you have decided on an industry, start reading about and researching it. When I have hired new recruiters in the past, I always make them do this. This shows both commitment and provides you with a list of good questions to ask.
  4. Look at skills and experience required and match up your current skills and experience.
  5. Use the web and look at industry execs. What backgrounds did they come from? This will start to prove or disprove your assumptions. Sometimes it has nothing to do with the skill set but with a perception. The industry you referenced probably has mostly smaller players (as it is very new) with a good bit of venture-fund backing. In most cases, the venture-fund people have a disproportionate amount of input in the hiring process. Example: A number of years ago I was sent a resume by a gentleman who was one of the best in the field of managing supply chains. He had taught college-level courses, presented at industry conferences, and written a number of white papers. He also had a good amount of experience in packaged goods and other industries. I asked him about pharmaceuticals, as the industry was very hot at the time. Supply chain work is generic enough, and he had that experience in packaged goods, which would be very similar. He said he had talked with several CEOs of smaller companies and that they all said they would love to hire him. However, their hands were tied by the venture capitalists. They wanted someone already in the industry. This is not to discourage you, just to provide some perspective.
  6. Do informational interviews with executives in the industry. These are not job inquiries but a request for a meeting to learn more about the industry, who they hire, etc. I am not going to go into detail in this column about how to do this.
  7. Finally, and I have recommended this book in the past, pick up a copy of Ask the Headhunter by my friend Nick Corcodilos. It walks you step by step through how you can show hiring managers value in an interview.
Here’s Wishing You Terrific Hunting,

Bill

About the Author

Bill Gaffney has 17 years of experience as an executive recruiter and career coach. Bill can be reached at 937-567-5267 or wmgaffney@prodigy.net. For questions to be considered for this column, please email askamaxa@yahoo.com.
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 real-estate  careers  Nick Corcodilos  Ask the Headhunter  best fits  corporate executives  responsibility


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