1. Career Goal Setting: the How, What, & Why Session Two of the Fall Series, Managing Your Career

2. Key Takeaways: Our “Goals” for tonight What “Goals” are – and in particular… Career Goals. Why goals are necessary – how they help you manage your career “now, and for the rest of your professional career”. How you set goals

3. Goals: What are they? Varied: There are lots of different types and/or definitions of goals… Individual: Everyone’s goals are unique to them Complex: There is no one single right definition or way to experience goals.

4. GOALS: Definition “The result or achievement toward which effort is directed…” -dictionary.com Implies movement; a process… a JOURNEY “… an aim… an end… a terminal point” Implies an endpoint; a final DESTINATION

5. GOALS Illustration – Steps on a Journey Timeframe Short Term Long Term Guidepost Action Step Interim Landmarks Win Wimbledon! Sign up for tennis lessons Win the GAME Win the SET Win the MATCH Join local tennis team Perfect my backhand Win Local Title Win Regional Title U.S. champion

6. GOALS Illustration – Steps on a Journey Timeframe Short Term Long Term Guidepost Action Step Interim Landmarks C-Suite! Submit B- school Application Finish MBA with Honors Finish 5 years in Strategy Consulting Get hired by client

7. Begin with the end in mind Mapping Out Your Journey Timeframe Short Term Long Term Guidepost Action Step Interim Landmarks C-Suite! Submit B- school Application Finish MBA with Honors Finish 5 years in Strategy Consulting Get hired by client

8. But… what if I don’t know my long term goal? Mapping Out Your Journey Timeframe Short Term Long Term Guidepost Action Step Interim Landmarks

9. Journey Without a Guidepost Lucky! Likely Uh Oh!

10. Long-term Goals: the Specificity Factor Timeframe Level of Detail/Specificity Very Detailed Very Broad Short Term Long Term Guidepost Action Step Interim Landmarks CEO of my own wildly successful Private Wealth Management Firm in New York Senior leadership position in a mid-size company where I have direct influence over company strategy Do work that I feel has meaning… I can see where it adds value… and people respected me as a leader I want to earn enough money so that my family can enjoy a comfortable lifestyle

11. Long-term Goals: How to Set Them Ask Questions: of yourself… and others What‘s Inside (Self-Assessment) What is important to me? What do I value? – Time, Money, Integrity, Altruism, Challenge, Variety, Ethics, etc. How can I find heroism in my work? – What is my definition of “hero”. How important are my roots… what got me here? – What did I want to be when I grew up? – What have I enjoyed/learned along the What are my strengths? – Weaknesses? – How can I leverage strengths and minimize roadblocks?

12. Long-term Goals: How to Set Them Ask Questions: of yourself… and others What‘s Outside (Research) Functions – The type of work… role to fill Industries – Content/context, product/service, customer Culture – Nature of the work environment (e.g. collaborative, lone wolf, matrixed, heirarchical, decision-making process, etc.)

13. Long-term Goals: How to Set Them Integration: identifying the intersection of… What’s Inside (Self Assessment) with What‘s Outside (Research)

14. Long-term Goals: How to Evaluate Them When you have some idea of the long term goal, ask… Why… - am I pursuing this goal? - is this goal appealing to me? How does this… - honor my values? - leverage my strengths? - serve what I have learned about myself and what’s important? What… - keeps me from pursuing this?

15. Long-term Goals: Other Resources PT Career Resources Workshop on Self Assessment (Jan) LCS2 – 360 Feedback MORS courses (e.g. Managerial Leadership) PT Career Coaches Leadership Coaching course CareerLeader on-line assessment PT Career Resources web site: – Self-assessment section – Resources section (for research) Plethora of readings/books

16. Begin with the end in mind Build in interim steps Work back to specific actions Ideals & Alternatives Mapping Your Journey: Goals to Actions Timeframe Level of Detail/Specificity Very Detailed Very Broad Short Term Long Term Guidepost Action Step Interim Landmarks

17. Interim Goals: How to Set Them Ask Questions: of yourself… and others What’s possible? What’s necessary? What’s reasonable? How have other’s done this? What are some alternatives? How does this leverage my past? What are possible gaps… and how might I bridge them?

18. Interim Goals: How to Evaluate Them Ask… Why… - am I pursuing this goal? - is this goal appealing to me? How does this… - honor my values? - leverage my strengths? - serve what I have learned about myself and what’s important? - get me closer to my longer-term goal? What… - keeps me from pursuing this?

19. Short-term Goals: How to Set Them Ask Questions: of yourself… and others What action can I take today/tomorrow to move in the direction of my next goal?

20. Short-term Goals: How to Evaluate Them Ask… How does this… get me closer to my next goal? Are they S. M. A. R. T. ? S Specific Significant Stretching M Measureable Meaningful Motivational A Achievable Agreed-upon Attainable Acceptable Action- oriented R Realistic Relevant Resonate Reasonable Rewarding Results- oriented T Time-bound Timely Tangible Trackable

21. STOP Take the first step, then STOP! – Reflect -look back: what have I learned -take stock: where am I now -look forward: where do I go now Reassess/Revise Navigating Your Path: It’s a Process! Timeframe Level of Detail/Specificity Very Detailed Very Broad Short Term Long Term Guidepost Action Step Interim Landmarks

22. The importance of FLEXIBILITY… … so you can make choices Navigating Your Path: Flexibility Timeframe Level of Detail/Specificity Very Detailed Very Broad Short Term Long Term Guidepost Action Step Interim Landmarks ? Get into B- school Major in Finance Strategy Role in Banking I love my marketing classes! Who knew? !!

23. The importance of FLEXIBILITY… … so you can make choices Navigating Your Path: Flexibility Timeframe Level of Detail/Specificity Very Detailed Very Broad Short Term Long Term Guidepost Action Step Interim Landmarks Get into B- school Major in Finance AND Marketing Major in Finance AND Marketing Strategy Role in Banking I’ll take more marketing classes and if I still like it, I’ll add a Marketing major.

24. Navigating Your Path: Flexibility Timeframe Level of Detail/Specificity Very Detailed Very Broad Short Term Long Term Guidepost Action StepInterim Landmarks ? The importance of FLEXIBILITY… … so you can make choices Major in Finance AND Marketing Major in Finance AND Marketing Strategy Role in Banking Now that I’ve been promoted in my banking industry job… I’m not sure it’s a good fit for the long term. Get promoted New MBA job at a bank

25. Navigating Your Path: Flexibility Timeframe Level of Detail/Specificity Very Detailed Very Broad Short Term Long Term Guidepost Action StepInterim Landmarks The importance of FLEXIBILITY… … so you can make choices Strategy Role in a CPG company I think I’ll leverage my finance background and training in marketing to switch industries Get promoted Finance role at a CPG company

26. The importance of FLEXIBILITY… … so you can adapt to external circumstances Navigating Your Path: Flexibility Timeframe Level of Detail/Specificity Very Detailed Very Broad Short Term Long Term Guidepost Action StepInterim Landmarks My company went bankrupt… I just lost my job… the economy’s in a recession… jobs are scarce! Start my own Turnaround consulting business Become the leading turnaround firm Retire in Tahiti and play golf every day

27. The fallacy of straight line progression The danger of assuming next steps Success v. Perfection Navigating Your Career: Complexity Timeframe Level of Detail/Specificity Very Detailed Very Broad Short Term Long Term Guidepost Action Step Interim Landmarks

28. Summary: Key Points Goals provide a path for your journey… directions and guidelines to keep you focused on an outcome. Goals can be short term steps or long term visions… and milestones in between Goals can be specific or broad – related to timeframe: – Short = specific; long-term can be broad Begin with an end in mind, and work back into action steps Stop, reflect, assess, adjust, continue on purpose Flexibility/adaptability – focusing too narrowly or lacking any focus can become roadblocks. Complexity – no right or predictable journeys

29. Upcoming PT CMC Events Upcoming Fall Series, “Managing Your Career” Events – Nov. 10 th : Daniel Porot Event – Nov. 12 th : Session Three: Promote Yourself from Within Winter/Spring Career Development Series Questions? Email: ptmba-careerservices@kellogg.northwestern.eduptmba-careerservices@kellogg.northwestern.edu Call 312-503-8385 to schedule a coaching appointment