The Executive Update

Ask the Coach: How Strong is Your Weakest Link?

Every week, NETSHARE hosts Ask the Coach, a phone-in coaching session with leading career management experts. Here is an excerpt from this week’s session with Nicola James, Managing Partner of Thomas Brooke International.

Networking is extremely valuable when you are looking for a job, and it can be incredibly time-consuming as well. One of the questions that was raised this week on the Ask the Coach call was how weak is a weak link in your network?

Nicola, our career coach expert for this week, answered this question with the same response that most questions related to hiring and career management get, “it depends.” Networking can be a very messy and chaotic business. It can be tedious and slow, or full of activity. But to extract the value from networking, you need to stay focused on your goal. And as your goals evolve, the value of your contacts morphs over time. Those contacts that seemed to be a very weak link six months ago may be a valuable resource today.

So think about your goals and who is an influential contact now? Can that contact help you or drop your name in the right place? If you have an existing relationship with that person, you can easily tap them as a valuable resource when you need them.

And don’t underestimate the power of networking. There are stories from NETSHARE members that demonstrate you never know where you will find assistance. Consider the executive looking for a job who struck up a conversation with his mail carrier, who in turn mentioned the executive to a business owner on his route. After a few meetings, the executive now works for the business. Or what about the executive who struck up a conversation with a grocery bagger? It seems the bagger was related to the CEO of a large company, and the bagger helped make the connection so that executive now works for the CEO.

So how strong is the weakest link in your network? As they say, it depends. But don’t discount any of your connections. You never know who may open the door to your next career opportunity.

Ask the Coach: The Recruiter’s Resume Viewpoint

Every week, NETSHARE hosts Ask the Coach, a phone-in career coaching session with leading career management experts. Here is an excerpt from this week’s session with Kristin Speer of Accelerated Search Consulting.

The first thing we do when we start to look for a new job is dust off and update our resume. But do any of us really understand what role the resume plays in job search? In this week’s call, career coach Kristin Speer gave NETSHARE members an unusual look from the other side of the recruiter’s desk, sharing what she knows about how recruiters look at a resume and what they look for. When you are brushing up your resume, see if you know the answers to these critical true-or-false questions to see if you know the recruiter’s perspective:

Q. The resume is supposed to be a reflection of your experience on paper.

A. FALSE: The resume is supposed to get you an interview. Since most job seekers think the resume is supposed to provide a comprehensive work history, they tend to stuff their resume with lots of information which makes them harder to scan to see if the candidate is relevant for a specific role.

Q. The executive resume should be no more than two pages long.

A. TRUE: You should be able to present your marketability in two pages, except in the case of a technical management resume that may require more technical details.

Q. An introduction page outlining accomplishments is a helpful preface for your resume

A. FALSE. They don’t help and just clutter the presentation

Q. The preferred resume format is to start with an objective or summary, then a list of accomplishments, and then a bulleted section of skills.

A. FALSE. How many ways can you summarize your value? Stick with a simple summary sentence or two, then offer no more than four key accomplishments but get to the chronology of your experience right away.

Q. Putting “consulting” on your resume is the kiss of death.

A. FALSE. How you present your consulting expertise is important. If you have been working with impressive clients doing long-term projects, then it can be useful, but only if you highlight these projects clearly on your resume.

Q. Numbers are really important to list on your resume.

A. TRUE and FALSE. You need to list the right numbers to make your point. The number of dollars in your P&L responsibility; the amount of revenue you generated for the company, the size of the deals you closed, improvement metrics – those are numbers worth listing. But don’t overdo the numbers and don’t overuse percentages, since they can hide low numbers and undermine your credibility.

Q. Leave white space on your resume.

A. TRUE. Leave room to read and let the reader’s eye only deal with relevant information. White space makes the resume easier to read.

Q. The number of jobs listed on your resume isn’t as important now that people change jobs more frequently.

A. FALSE. The number of job changes is still a key marker on resumes. The percent is that a really good executive will be able to stay at the same company and see a few promotions, which makes him a “keeper” when others are laid off.

Q. Recruiters look for “brand name” companies when they source candidates.

A. TRUE. The main search criteria used by recruiters almost always includes a company name, usually someone in a similar business or industry. A recognized name also makes you easier to sell.

Q. Executive recruiters are not using LinkedIn to find candidates.

A. FALSE. Even large retained search firms use LinkedIn to source candidates.

Are You Ready to Be An Entrepreneur?

As executives age, they start looking at alternative career strategies, including consulting or opening their own business. We have written in the past about consulting and what it takes to build a successful consulting practice. But what if you are ready to take on something more permanent and ambitious? Are you ready to start your own business? It’s tougher than being unemployed, but you might be ready for a new challenge, if you can go into a new venture with your eyes wide open.

I recently found some interesting insights from a guest post by Carol Roth on the Business Pundit on what you need to consider before you embark on becoming your own boss and launching your fledgling business. Here are six things to think about before you get started:

1. Know why you are starting a business. Don’t get caught up in the wrong motivation to start your business. Don’t pursue the latest shiny technology, or decide to start your own company because you can do a better job than your idiot boss. Consider your customers and what problem you can solve for them? Is the solution sustainable as a business model? Also ask yourself if you are willing to work long hours and do what it takes to succeed. Do you have the right attitude? Remember that 90 percent of new businesses fold within five years.

2. Find the right people to help you. You can’t work in a vacuum, no matter what your business. You need to deal with investors, suppliers, accountants, lawyers, and, of course, customers. Find the right resources to help you get started.

3. Be prepared. Think about the skills you need to run the business, not just succeed at your profession. Do you know how to handle bookkeeping, manage cash flow, deal with suppliers, and handle sales and marketing? Be sure to inventory those skills you need in advance and either acquire them or be prepared to fill in the gaps in some other fashion.

4. How are your cash reserves? You need to be honest with yourself about the money you will need. Do you have money to invest? Do you need money from investors? Can you handle the cash once you acquire it? What are you going to live on while you get your business going? These questions need to be addressed before you get started.

5. Consider the competitive landscape. How tough is your market? Are you entering a saturated market with a “me too” business that will make it harder to compete? Are others doing what you want to do? Are they succeeding or can you see similar businesses dropping like flies? You need to understand what will make you unique in your market area

6. Can you scale your business? One of the biggest mistakes entrepreneurs make is they build a business around their own know-how and expertise. That makes it difficult to scale the business. If you can train others and transfer your expertise to expand your business, you will have a better chance for success.

So before you decide to start your own business, consider if you really have what it takes to make a go of it. If you want to get your feet wet, try consulting or working for similar companies and study their challenges and successes before venturing out on your own.

Ask the Coach: “Let’s Change Partners and Dance…” – Embracing the Portfolio Career

Every week, NETSHARE hosts Ask the Coach, a phone-in coaching session with leading career management experts. Here is an excerpt from this week’s session with career transition coach and career management consultant Randy Block.

This week, career transition coach Randy Block led the call and he had some interesting insight for those who joined us:

“Changing partners might be your best move in the job search dance.”

Traditionally, career nirvana was to land a job with a company and stay there. You would work your way up the ladder and retire with a nice pension and benefits. Thanks to the economic upheaval we have just experienced this idyllic picture will seem like something made up for a movie or the plot of a novel. What was once almost guaranteed is now harder and harder to find. In fact, hiring managers sometimes look on a stable career path with suspicion; What's wrong with this person they stayed in one place so long? Didn’t he or she have any job offers? Is there no desire to expand their horizons?

Older workers who have been "indoctrinated" in this expectation need to realize that the "dream" does not exist for many anymore. They must adapt, or die.

More and more boomers are finding it difficult to make the cut when it comes to hiring. As Randy points out, most Gen Xers don't want their father working for them. Most boomers are not used to taking orders from their kids. It can be a very uncomfortable working situation. Many of today’s Gen X hiring managers see boomers as lacking energy, lacking technical skills, lacking social media skills, and lacking an understanding of current consumers and their needs.

To overcome these obstacles, boomers must show that they are none of the above. They must prove they are on the cutting edge of change and technology. Yes, they know what SEO and SEM mean. They can tweet and blog with the best of them. They have a strong web presence and a dynamic digital footprint. A quick Google search of their name will prove their value, and show that they are willing to share this value in discussion groups, industry conferences, and with thought leaders.

Instead of working towards the full-time job with the large company as a career strategy for a long run, boomers need to change partners. They need to look to a Portfolio Career. This will provide them with many challenges - each a separate chapter, a separate project. By being project-based you make yourself appear to be more valuable and more ready to be hired by the companies you are interested in. Where they can't see hiring you for a full-time position, they can see hiring you to fix the problem at hand. Once that problem is fixed, you have proven your worth in spades. The company has seen how you "fit" into its culture. They have seen that you are up on the industry and that you can work with their employees. They might just decide to take the leap and offer you a full-time position.

Now it's your turn to decide if you like this partner enough to stay or look for another partner who fits your style and needs better. You can start a new chapter with a new challenge – it’s always a new dance.

Ask the Coach: Don Orlando Offers Some Steps for Success

Every week, NETSHARE hosts Ask the Coach, a phone-in coaching session with leading career management experts. Here is an excerpt from a recent session with career coach Don Orlando .

This week, career coach Don Orlando was fielding questions from callers and online. He had some interesting insights into job search strategy and tactics, and we wanted to share his advice.

Question: Can you be too aggressive in an interview? Does it come across as being too desperate?

Answer: The better question is can you be inadvertently too aggressive? It’s easy to use the style that’s working for you in your current job—and that may not match the job you’re seeking. Remember to bear with the usually untrained interviewer who might be intimidated. Be sensitive to different cultures (especially overseas jobs where there are cultural differences).

Question: I am seeking a role from consulting back to the industry, but my current experience is varied across many industries. How can I improve my personal brand so that I may be considered for M&A roles in niche industries?

Answer: This is a multistep process. First, decide which industries best match your experience and needs. This chart shows the fastest growing industries and is a good place to start.

Next, use various constraints to help you focus your efforts. Assess recent, well-documented, successful experience with solid references. Determine what is unique to a specific industry and what is applicable to any industry. Consider how current your knowledge is for a specific industry and if you can get the references you need to get a job. Also take into account geographic considerations, and if you are looking abroad, political considerations.

Question: Do you have a recommended tactical plan that I can execute over the next 12 months to find my ideal job?

Answer: First, match your campaign to a specific executive role - CEO, COO, CFO, etc. Remember that every campaign is looking to match a specific capability, so multiple functions require multiple campaigns. Next, benchmark your digital footprint, and then make an effort to increase your visibility by function and industry. Look at the results in the last month, and that you have a clean, uncluttered online brand (so you are not mistaken for someone else) that represents your brand.

Next, develop your concentrated brand. Create a powerful and (if possible) unique brand promise that offers value. Be sure to avoid adjectives and responsibilities and credentials. Instead, focus on results. Remember that developing your personal brand takes time.

Then you can capture your brand in job search documents that meet your next boss’s needs as well as your own. Create roles for your resume. Offer clear and compelling proof that you can make the company money by delivering on your brand promise. Also create a template for successful interviews. And create a strategy for negotiation for compensation. Create roles for your cover letter that transmit your industry knowledge in the first line. And use your brand to build your online presence with a LinkedIn profile, by joining professional organizations, participating in special LinkedIn Groups, writing articles, and sharing your expertise.

You should be dividing your time, using about 20 percent of your efforts to respond to job postings and 80 percent of your time networking.

It’s Time to Take Charge of Your Time Management

One of the bigger challenges I hear about from NETSHARE members is the amount of time it requires to really manage your career. You have to find the time to write and rewrite your marketing documents; you need time to network; you need time to build out your online brand footprint. If you are working full time and looking for a better career opportunity, then time is really at a premium. How can you manage your time to work everything you need to accomplish into your day?

I guess the real answer is, you can’t, so you have to find the best way to manage your time to get the most out of your day for yourself. Don’t stack the “to do” list in a way that means inevitable failure. Instead, prioritize what you need to do, do what you can, and let the rest go.

This was driven home to me by a recent post on BNET, “The Biggest Time Saving Tip of All,” by Laura Vanderkam, author of 168 Hours (which are the number of hours in a week). Vanderkam states the obvious, although most of us forget this:

“Time will pass. It will be filled with something. You have to sleep and eat. But in our free and prosperous society, what else transpires during that time will be a choice. It will be a result of a choice you make during that week, or the result of a choice you made at some point in your life and are executing on now.”

So you can try to plan every minute of every day, but inevitably, the plan will go awry. So does that mean you have failed? Not at all. It just means that you have chosen to fill your time with other tasks that may, or may not, mean more to you.

As Vanderkam notes, you can’t “find” more hours in the day, and if you did, what would that accomplish? Instead, you need to “start by filling your 168 hours with the things that matter to you and those you care about — those high-impact activities that nurture your career, nurture your family, and nurture yourself — and spend as few of your 168 hours as possible on anything else.”

Rather than worrying about “busyness,” make the most of the time available to you and fill the hours with things that are important. You may have to negotiate more time with your family, or change jobs or the way you do your job to reprioritize your time, but you get to choose how you use your time, and that’s the secret. As Vanderkam says, “there’s little point in trying to save minutes when you’re wasting hours.” Instead, build the life you want in the time you have available.