Creating A Career Marketing Plan New York University Leonard N. Stern School of Business November 6, 2003

© 2003, Next Step Partners. All Rights Reserved. How Career Development Occurs Crafting Experiments Shifting Connections Making Sense Outcomes: New career choice Greater congruence between who we are and what we do From Working Identity, Herminia Ibarra

© 2003, Next Step Partners. All Rights Reserved. The Most Important Plan You’ll Write Managing your career through multiple transitions is your reality due to: Lack of job security Changing employer/employee contract Increasing pace of change Advances in technology and globalization Changing work/life balance priorities

© 2003, Next Step Partners. All Rights Reserved. A Current Perspective Employees need to forget about their jobs and start looking for the work that needs doing “ ” — William Bridges, “Creating You & Co.”

© 2003, Next Step Partners. All Rights Reserved. A Current Perspective Change is the enemy of people trying to hold on to their jobs and the friend of people who take this marketing approach — William Bridges, “Creating You & Co.” “ ”

© 2003, Next Step Partners. All Rights Reserved. Why A Marketing Plan Focuses efforts and outlines a path of action Requires you to articulate selling points and differentiation Plan needs to: Reflect brand and product = You Reflect the market Be a living document that changes with new learning

© 2003, Next Step Partners. All Rights Reserved. What A Plan Includes 1 to 2 pages with: Desired Role(s) Brand Description Positioning Statement 4 P’s  Product Competencies  Place Target Market Characteristics & Companies  Price Salary and Benefits  Promotion Networking

© 2003, Next Step Partners. All Rights Reserved. Start With Brand Provides a big picture perspective to the plan Encourages reflection and self observation Jumpstarts thinking about market perceptions and opportunity Articulates differentiators Brand = The promise of what you stand for and deliver to employers, clients and colleagues

© 2003, Next Step Partners. All Rights Reserved. CURRENT BRAND IDENTITY = Director, Finance Brand and Positioning FUTURE BRAND IDENTITY 2013 = CFO Industry Expertise Analytical P o s i t i o n i n gP o s i t i o n i n g

© 2003, Next Step Partners. All Rights Reserved. Communicate Brand with a Positioning Statement Relevant and compelling to the market Gives an immediate sense of you A great answer to:  “Tell me about yourself”  “So what do you do?  “ What do you want to do next?” Concise – 10 seconds is ideal Inspires questions and further discussion Positioning = A credible promise of value delivered in a way that distinguishes you from others

© 2003, Next Step Partners. All Rights Reserved. Positioning Statement Statement Components: Professional identity The most relevant and compelling elements of your experience and areas of strength; problems you are good at solving; the work you love to do; what you are known for Types and brand names of organizations What you want to be known for in the future

© 2003, Next Step Partners. All Rights Reserved. Positioning Statement Example I am a management consultant with experience in international strategy and planning for Fortune 500 companies. I have particularly enjoyed developing strategies to increase revenues and profitability in my clients’ Asian business units. I am now exploring applying my skills in an in-house strategy role at a leading biotech company with global operations. “ ”

© 2003, Next Step Partners. All Rights Reserved. Positioning Statement Example I am a financial analyst at Morgan Stanley and I have covered the media sector for more than four years. I'd like to leverage my financial skills and deep knowledge of the industry to work in the CFO's office at a large media or entertainment company such as AOL, Sony, or Disney. “ ”

© 2003, Next Step Partners. All Rights Reserved. 4 P’s Product = Competencies What are your competencies? What skills do you enjoy using?  Skills = specific ability What knowledge do you possess?  Knowledge = the expertise developed What traits do you display?  Traits = personal style THE 4 P’s Product Place Promotion Price Product

© 2003, Next Step Partners. All Rights Reserved. Product = Competencies Key Product Attributes Increased sales as a result of new understanding Results Hiring Managers select people to produce results ActivitiesCompetencies Skills Knowledge Traits New study of core customers EXAMPLE Marketing Research THE 4 P’s Product Place Promotion Price Product

© 2003, Next Step Partners. All Rights Reserved. THE 4 P’s Product Place Promotion Price Place 4 P’s Place = Targets Internal: Goal is to identify multiple, viable opportunities External: Goal is a list of 25 to 50 organizations To refine a target area, there are 5 things to consider: Geographic area(s) Industries Organization size = revenue and employees Organizational culture Organizational structure

© 2003, Next Step Partners. All Rights Reserved. THE 4 P’s Product Place Promotion Price 4 P’s Price = Salary & Benefits Salary range and option packages: Ideal Fair and reasonable Rock bottom Market rates determined by using salary.com, talking to people in the industry and targeted roles

© 2003, Next Step Partners. All Rights Reserved. THE 4 P’s Product Place Promotion Price Promotion 4 P’s Promotion = Moving into Action Promotional options include: Networking (90% of focus):  Calling existing contacts – draw upon “weak ties”  Asking for referrals “warm calls”  Cold calls  Informational interviews  Alumni events  Associations  Using your positioning statement – everywhere! Volunteering Job interviews

© 2003, Next Step Partners. All Rights Reserved. Promotion Network Assessment Questions to ask: Given your career goals, what should your network look like? Where are you over-invested? Where are you under-invested? What are the gaps? What steps can you take to create a stronger network to achieve your goals? THE 4 P’s Product Place Promotion Price Promotion

© 2003, Next Step Partners. All Rights Reserved. Current Job Market Trends Demand for specialists not generalists Company brand names more important Vibrant underground job economy accessed through networks Perspective shift from short term “How can I immediately benefit” to long term “How will this investment payoff in the future” Job seekers are proactive ‘consultants’ with polished resumes and interviewing skills Slight up tick in new job activity with people landing more quickly and with more offers

© 2003, Next Step Partners. All Rights Reserved. A Final Thought Chance favors the prepared mind. — Louis Pasteur “ ”