A recent Today show segment focused on Marla Romash, who after an amazing career in politics felt the urge to do something new. Today she is pursuing a career as a pastry chef. Check out the full segment at Today Show

Marla talks about moments in life when you know you want to do something different, have a sense of belonging and purpose and make a difference. A growing trend for the boomer generation is the urge to do something different when they turn 50+ and not have regrets that they didn’t follow their passion. It doesn’t always mean starting your own business; it can be just making a change in industries or role within an organization.

Now I know you are wondering “How do I do that?.” Before you hand in your resignation letter, take a look at the following points:

Statistics show that in the first three years, one-third of new businesses turn a profit, one-third break even and one-third lose money. If you are thinking about starting a company, you may need to keep your day job and try out your new business venture on the side (evenings and weekends) to find out if you can turn it into a profitable venture.

A good formula for success:

Passion

“Do something you love, and you will never work a day in your life.” (Confucius)

Do you look at your passion as an asset or hobby? You can turn your passion into a career. Of course you have to be realistic and look at all the factors that contribute to success and failure when starting a new business or changing career focus to a new job.

Research the viability of the industry or business you want to transition into. Part of that research could be volunteering on a board of directors to get an inside view of business challenges and successes, or joining associations or social groups to network with others in the industry. You can learn a lot by asking “informational interview” questions in the course of conversations. Don’t forget social media, checking company / people profiles on LinkedIn and Facebook. Groups and question sections in these social networking sites also have valuable information for career changers.

Money

Many executives have grown accustomed to living on a high salary and bonus structure. They need to take a hard look at what type of money / salary will be available for the first few years in a new business venture. If moving to a lower level job in another industry, the salary may be significantly less the first few years.

What are you willing to do to make this dream job a reality? Are there others in your family that need to be taken into consideration when making this decision? You may have to downsize your lifestyle in order to live on a smaller salary while the business builds and you build new skills and develop talents. Are you in a position to live off savings or obtain a loan to manage finances while the business gets off the ground? Will you need to work or consult on the side, or find other revenue streams to keep finances afloat?

One good resource for compensation analysis is PayScale.com that analyzed the 30 biggest industries to show how pay changes as you gain experience. Take a look at the industries where you have the best potential to make up for career change.

Skills & talent

How do your current skills and talents translate to the new career? Leverage your strongest skills that transfer across any business or industry. You may need to return to school or pursue certifications to update or build new skills. Take advantage of opportunities your current employer offers for professional development. Updating skills can be expensive if you are footing the entire cost of re-education.

A few examples of executives who have taken this next step: CFO turned hobby of gourmet cooking into new career as chef/restaurateur; cardiovascular surgeon used medical background to become a medical malpractice expert; marketing executive left corporate world to run statewide non-profit food share program.

These tips just tap the surface. Hopefully, it gives you a window into some challenges that need to be taken into consideration when contemplating a career change. Today’s hypercompetitive market is prime for executives to think out of the box and discover what opportunities might be the next best move.

2012. A New Year. This time of year many people make New Year resolutions, some easy to keep, others impossible. Have you ever thought about changing just one thing? That’s not overwhelming; it’s just one thing. The power of one can have a big impact on your life. Here are a few suggestions of how to incorporate the power of one into your life this year to change it for the better.

1. Learn something new.  I know, I know, you are saying that you learn something new every day – on the job or fixing a broken ‘something’ at home. But what about learning a new language?  Or taking an art or cooking class? Sometimes you just have to give your right brain a chance to engage , and you’ll be amazed at what you will learn and how that will help your left brain activities.
2. Create a fitness plan. This isn’t focused on a diet, but incorporating one thing into your life that helps you become more fit. It could be taking a break a couple of times a day and walking around the block, or making a jogging date after work.  Why not try something new like a dance or yoga class this year? Riding your bike to work? Yes, executives can do it! Even just one thing can improve your health.
3. Volunteer. What? Where will you find the time to devote to volunteering? Think out of the box. Maybe someone in your organization could use a mentor?  A local children’s baseball team may need an assistant coach. And there are many nonprofit volunteer organizations that could use your help. If you can’t budget time to physically volunteer, consider donating – household items you no longer use. January is a great time of year to clean out closets, or purge a few items once a month throughout the year.
4. Get organized. Did you lose sight of the top of your desk – literally – cluttered with papers and stuff? Need to find important paperwork for taxes, and year-end reports? Take a stab at this job – either in one chunk or in small blocks of time, devoting 15 minutes to a pile of paperwork that needs going through. Clean out the file cabinet to make way for next year’s bills, receipts, etc.  Even if all you can do is organize the piles of papers – that’s one step closer to getting the whole job done. Reduce the clutter,  and you may experience a more cohesive working environment and mindset as a result.
5. Set priorities on how you spend your time. Time is precious and no matter what we think, we can never negotiate more time. We can make more money, buy more things, but the time we are given on earth is non-negotiable. So make your time count.  By doing just one thing, setting up a date night with a loved one, or night  out  with friends, you can put more joy in your life. Happier people live better lives, perform better on the job, and are better relationship managers. Be the best manager you can of your life and set priorities on what’s most important to you this year.

I wish you all a very Happy New Year and a bright future.

 

If you don’t have time to continue your job search strategies in full force during the busy holiday time, consider these as must do’s:

1. Continue networking. People tend to be more social around the holidays and networking is key. Use holiday parties and other social events to keep in touch. It could be as simple as a neighborhood get together, professional association holiday party or your favorite sports group potluck. There are always plenty of holiday celebrations and fundraisers where you can create new connections and nurture ongoing friendships. Social events are great opportunities to connect and could lead to job opportunities in the future.

2. Give back. Especially at this time of year think of ways you can help others. Look for occasions to connect people with one another, or with a charity or foundation that may appeal to them. Be a resource by forwarding an article, white paper or special report that contains valuable information (business or personal) that would be appealing to your connections. This can make you memorable as a “go-to” person who is helpful.

3. Career tune-up. Is your resume up-to-date? LinkedIn profile fine-tuned and keyword searchable? Do you have your career action plan in order? Do you have your interview techniques and salary negotiation points practiced and perfected? Do you feel confident and prepared? Now is a good time to look at these questions carefully and put steps into place to take action.

Don’t wait until January and take the chance of being left behind your competition. Continue preparing and moving forward with job search strategies through the end of the year. You still have time to take advantage of the last few weeks of 2011. When the holidays are over and you are face-to-face with 2012, you will thank yourself and ultimately outshine the competitors who are unprepared to jump into the New Year.

As an executive you know that being proactive is a must in this fast-moving world. And many executives are just too wrapped up in the day-to-day of their job to take a pulse reading of where they are in their own career.

Answer yes to these statements and you may need a career direction evaluation:

• Your job lacks challenge and excitement for you.
• You are feeling unappreciated.
• Your promotional and/or development opportunities are limited.
• You are no longer having fun.
• Learning is replaced with routine.
• You sense that your skills and talents are being wasted.
• You are suffering from stress or depression.

Executives often take on the burden of having to know all and be all and lose themselves in that thinking. However, today senior management is stretched beyond their capabilities at times causing one or more of the statements above to be true.

How do you get back on track?

1. Start with a career action plan. Yes, you may already have one, but if it is dated or not working for you, it may need some revisions or a fresh approach in a new direction.
2. Assessments or personality inventory may be helpful as tools to help you discover your strengths, preferred way of working, people relations and commonalities, etc.
3. Work with a career coach who can be extremely helpful in supporting you through this process. Coaches are perfect sounding boards for brainstorming ideas, formulating a strategy, and creating steps to help you implement it.

Don’t wait! Get started now and be ready when 2012 rolls in.

Interim Executive….

Many companies are using Interim Executives. To quote Karen Klein of businessweek.com: “Unlike consultants, Interim Executives work within a company, filling a position that has gone vacant due to an employee leaving, dying, or being dismissed. They can fulfill as many as three functions: Stepping into a job that needs doing, helping to interview and choose a permanent replacement, and diagnosing and implementing important internal changes.”

Advantages:

Some executives are thinking seriously or have taken the leap to Interim Executive positions for several reasons:
1. Wait out the economic unrest and move into a permanent position when the state of the economy has stabilized.
2. Use the Interim Executive position as a stepping stone into a new field or to hone and strengthen an existing or new skill set.
3. Get familiar with an organization’s corporate culture before considering a senior level position.
4. Have an potential advantage in a hiring opportunity within the organization (try before you buy).

These types of positions can be very short-term (keep organization running during hiring process) or long-term (company reorganization or developing funding / resources for next level goals).

Engaging Interim Executives helps the company because they can save thousands to millions of dollars in operating costs by hiring successful C- or V- level executives can have demonstrable experience in business transformation, corporate governance, corporate strategies, finance / accounting, human capital / organizational development, information technology, marketing, mergers & acquisitions, operations, and sales.

Key components to being successful as an Interim Executive is someone who can listen effectively, quickly identify problems and execute solutions that achieve the goal. An open mind, with entrepreneur spirit and sharp leadership qualities are helpful as well.

Disadvantages:

An Interim Executive does not have it easy, sometimes walking into an organization that has long-standing problems, and perhaps resentment from the existing management and support staff. The person who is considering this type of alternative career move should consider the consequences carefully.

1. Potentially lower salary options, no benefits, bonuses or perks
2. Need to wear several hats, covering more than one management position
3. Get back to basics, smaller picture ideas, and skills and fundamentals
4. Short-term assignment

Working as an Interim Executive is one way to bridge the gap in employment. It can also be a good choice for a high-level, semi-retired entrepreneur or executive who wants to keep active but doesn’t want a long-term commitment.

So what job strategies do you need to be a superhero in your job search campaign?

Network – Job seekers may be tired of hearing about networking, since it is constantly being brought up as the most effective job search strategy. Each networking article reports slightly different figures of success, but all point to a rate of over 60% of jobs being found through networking. Just imagine Spiderman with his web spread across many buildings enabling him to  maneuver in spaces that others don’t have access to. What does that mean to you? Networking can be your web to people and organizations that your competition does not have. If you want to boost your chances, you need to be networking!

Research – In the old days, when the world was more aligned with the ‘Clark Kent/Superman’ scenario, companies did not expect a candidate to come into an interview fully knowledgeable about the company. Part of the interview process was filling the candidate in on the operations, products, executive staff, etc. Today, candidates are expected to do their research and walk into an interview equipped with information about the organization, the mission statement, products, competition, and executive team. Yes, it takes time, but if you are truly vested in acquiring a position with a potential organization, it is definitely worth your time to present as an informed candidate.

Prioritize – Since job search can be equated to a full time job, a candidate needs to prioritize, especially if they are currently employed. This can be challenging to put yourself first when you have obligations to your job, family, friends, and various other influences in ‘life’. Aquaman comes to mind here – one of his super powers is that he can breathe underwater. It may seem at times that you  are barely keeping your head above water when in the midst of a job search. Making priorities fit your needs is of utmost importance. Schedule dedicated time each week /  each day to devote to your job search campaign – whether it is checking online job boards, networking, sending out resumes, or researching companies. Fill the oxygen tank and dive into the depths of organizing your plan and next steps. .

These are just a few job search strategies to get you started. Remember that some Superheroes have partners to help them accomplish their super feats such as Batman and Robin or the Fantastic Four. Need a partner? We’ll be like Elastigirl (flexible), Wonder woman (super speed, intelligence & enhanced senses) and Invisible Woman with psionic powers (powers of the mind).

Contact Louise today

Title: Working: People Talk About What They Do All Day and How They Feel About What They Do

Author: Studs Turkel

Publisher: Pantheon Books

Type: Non Fiction

Released: February 12, 1974

Length: 589 pages

Based around a simple concept — asking everyday Americans the question, “What do you do all day, and how do you feel about it?” — Pulitzer Prize-winning author Studs Terkel presents a landmark in oral history and social documentary. Men and women from every walk of life share their hopes and fears, and all speak honestly and openly about how their professions either give meaning to their lives, or fail to reflect their ambitions. The range is extraordinary — pharmacist, stockbroker, public school teacher, gravedigger, steelworker — and the panoply of voices creates a mosaic portrait of American labor at a critical time in our nation’s history.

1-Recognize your reasons for making a change

Are you tired of your work and need something that provides greater stimulation and challenge? Or, are you seeking social interaction and personal reward that your present occupation doesn’t offer? For example, I coached a client who became an executive director for a nonprofit organization in order to give back to the community.

2-Determine your commitment

Decide if you want to work full time or part time; if you want to job share or telecommute at least part of the time. Are you attracted to seasonal or cyclical work? Depending on your career choice, it may mean starting out at an entry level.

3-Consider a hobby or a passion

Many people find successful new careers and businesses based on their hobbies … love of antiques, outdoors, environment, animals, fitness, etc. Sometimes it isn’t so obvious. For example, one person converted her passion for organizing and strengths in negotiating into a career as an a meeting and events planner.

4-Know your limitations

You may be great at arranging things, but dislike dealing with customers. You may enjoy talking to your pet, but have little patience for cleaning kitty litter pans. Although it’s important to know what you like, pay attention to your head. Conduct a thorough self assessment or seek career coaching before you pull the plug on your current career. Take ownership of your career and life plans; resist the temptation to follow someone else’s dream for you. After all, it’s your life.

If you have been wondering if there is a better path such as starting your business, but are not sure what that would be or where to begin without risking everything, franchising may be an option. If you have experience managing a project, a department, a division or a business, then you have the potential skills for success. The franchiser provides the industry expertise, training, systems, procedures and marketing support to help you succeed.

To take out the guess work and determine if franchising is a viable option, you can work with a franchise consultant, and it won’t cost you a dime to investigate this avenue. Many people associate franchising with the fast food industry. However, there are over 1600 registered franchise companies in diverse industries in the marketplace, according to Anna Wilds, FranChoice Franchise Consultant.

A franchise consultant helps you to sort through the possibilities and match you with the appropriate franchise opportunity. The process begins by asking comprehensive questions such as:

• What are your reasons for wanting a business of your own?
• Have you ever owned a business of your own?
• What hours would you like to work and do you want to be involved full time or part time?
• Where do you want your business to be located?
• How do you feel about managing people?
• How much capital do you have to start a business with?
• Will you have partners?
• Do you want to build multiple units?
• How soon do you want your business to open?

If, after a thorough assessment, you move forward with a good match, the franchiser pays the franchise consultant’s fees. It’s about ensuring that there is a fit all the way around. You would pay exactly the same franchise fees with any franchise company you chose whether you work with a franchise consultant or not.

Posted by Louise Garver