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Entrepreneurship 101 - Managing Your Career
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Entrepreneurship 101 - Managing Your Career

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Speaker: Teresa Snelgrove …

Speaker: Teresa Snelgrove
Dr Teresa Snelgrove of Snelgrove Associates and Dr. Frederick Sweeney talks about career management theory and practice: what inputs are needed for critical career decisions and their execution. Join us for some very practical advice on how to manage your own success.
More information including webcast: http://www.marsdd.com/Events/Event-Calendar/Ent101/2008/selling-yourself-20080123.html

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  • 1. The material contained in this document is strictly confidential and the sole property of SHI Capital Inc and Snelgrove Associates. Beyond distribution to internal recipients for appraisal, this document may not be reproduced in whole or in part for any purpose without the express written permission of SHI Capital Inc. or Snelgrove Associates Managing your CareerManaging your Career How to sell yourself and attain your career goalsHow to sell yourself and attain your career goals Prepared forPrepared for MaRS Entrepreneurship 101 Lecture SeriesMaRS Entrepreneurship 101 Lecture Series January 23rd, 2008January 23rd, 2008 Prepared byPrepared by Teresa SnelgroveTeresa Snelgrove, Snelgrove Associates, Snelgrove Associates Frédéric SweeneyFrédéric Sweeney, SHI Capital, SHI Capital
  • 2. Private and Confidential | 2 ContentsContents Intro to professional search servicesIntro to professional search services How to sell yourself Science and Business: the challenges The importance of Networking Survey from the trenches
  • 3. Private and Confidential | 3 Introduction to Head-HuntersIntroduction to Head-Hunters Professional search firms are contracted by Companies to identify the mostProfessional search firms are contracted by Companies to identify the most promising candidates for a specific position.promising candidates for a specific position. Different types of Search Firms and how they work ? 1. Staffing 2. Contingent 3. Retained
  • 4. Private and Confidential | 4 Introduction to Head-HuntersIntroduction to Head-Hunters Professional search firms are contracted by different Companies to identify theProfessional search firms are contracted by different Companies to identify the most promising candidates for a specific position.most promising candidates for a specific position. Snelgrove Associates Who we are ?  When it was founded  Why it was founded, why venture-backed companies ?  What kind of search do we do ? How we work ?  Step by Step description of the search process  How we get paid ?
  • 5. Private and Confidential | 5 Snelgrove AssociatesSnelgrove Associates Snelgrove Associate is a leading search firm within the life sciences and IT industrySnelgrove Associate is a leading search firm within the life sciences and IT industry HOW DO YOUHOW DO YOU oror SHOULD YOUSHOULD YOU GO THROUGH AGO THROUGH A PROFESSIONAL RECRUITNG FIRM?PROFESSIONAL RECRUITNG FIRM?
  • 6. Private and Confidential |6 Taking the Pulse of the AudienceTaking the Pulse of the Audience LOOK AROUND! You are surrounded by people at different stages of their careerLOOK AROUND! You are surrounded by people at different stages of their career How many Students who are looking for their first job ? How many Freshman/Freshwoman in the job market ? (less than a couple of years) How many think they now have the dream job ? What obstacles are you faced with finding a job ? How many are thinking of making a career move within the next 2 years ? (internal or external)
  • 7. Private and Confidential | 7 Job searching is an excellent opportunity to learn about yourselfJob searching is an excellent opportunity to learn about yourself Key Issues with Job SearchKey Issues with Job Search Knowing what you really want. Knowing how to get it Differentiating yourself from 1000’s “similar” candidates Having realistic expectations Getting people to help you
  • 8. Private and Confidential |8 ContentsContents Intro to professional search services How to sell yourself Science and Business: the challenges The importance of Networking Survey from the trenches
  • 9. Private and Confidential | 9 How to manage your career efficientlyHow to manage your career efficiently Efficient career management requires constant attentionEfficient career management requires constant attention CONSULTING FIRMS INVESTMENT BANKS DUE DILIGENCE MANGEMENT STRATEGY FINANCIAL NETWORK POWER TRANS- ACTIONAL INFORMEDINFORMED APPROACHAPPROACH STAY PUT JOB SEARCH STABILITY INTERNAL PROMOTION FEAR ? FINANCIAL INTELLECTUAL CONFLICT ? COMFORT ZONE AMBITIONS AND DREAMS INFORMEDINFORMED APPROACHAPPROACH Managing Your Career: A Four Step Process 1. Define your product (i.e.: YOU!) 2. Determine your market 3. Make a plan 4. Use effective marketing channels* * Borrowed unabashedly from* Borrowed unabashedly from William BridgesWilliam Bridges’’ ““You & Co.You & Co.””
  • 10. Private and Confidential | 10 Define your product, define yourself Part I: What value can I add to my future employer or company ? 1. Things I do well 2. Things I like to do 3. Things I can do all day and it doesn’t feel like “work” 4. Things I don’t mind going the “extra mile for” STEP 1: Define YourselfSTEP 1: Define Yourself Being self-aware of your true abilities is paramount in identifying keyBeing self-aware of your true abilities is paramount in identifying key employment opportunitiesemployment opportunities
  • 11. Private and Confidential | 11 Define your product, define yourself Part II: What value can my employment bring me ? 1. A “foot-in-the-door” 2. A stepping stone for something greater 3. A great learning experience to broaden my skill set 4. A comfortable place to earn a living A great job is also a job that allows you to learn, grow and one who opensA great job is also a job that allows you to learn, grow and one who opens doors to bigger/greater opportunitiesdoors to bigger/greater opportunities STEP 1: Define YourselfSTEP 1: Define Yourself
  • 12. Private and Confidential | 12 Determine your market, your target jobs Take a long, HARD look at yourself and be realistic 1. The first job is rarely the ideal job 2. Your qualification might not be a perfect fit 3. Break the “lack of experience” vicious circle 4. Do your due diligence STEP 2: Identify your target jobsSTEP 2: Identify your target jobs Your qualifications will help you identify the potential employmentYour qualifications will help you identify the potential employment opportunities, but DO NOT limit yourself, think outside the box!opportunities, but DO NOT limit yourself, think outside the box!
  • 13. Private and Confidential | 13 Make a Plan Create your own “marketing plan” 1. Define your goals 2. Define your target audience 3. Efficiently communicate the value of your product (e.g.: The Elevator Pitch) 4. Become visible to your audience (Networking) Cliché ALERTCliché ALERT: You only have one chance to make a good impression!: You only have one chance to make a good impression! STEP 3: THE PLANSTEP 3: THE PLAN
  • 14. Private and Confidential |14 Use Effective Marketing Channels GET OUT THERE AND NETWORK 1. Industry organizations and contacts 2. Business acquaintances 3. Recruiters 4. Volunteering STEP 4: GET OUT THERE !!!STEP 4: GET OUT THERE !!! Maximize your exposure by using different and original ways ofMaximize your exposure by using different and original ways of communicating your interests and goalscommunicating your interests and goals
  • 15. Private and Confidential | 15 The Elevator Pitch is the key in order to get a message across inThe Elevator Pitch is the key in order to get a message across in a clear, short and organized mannera clear, short and organized manner Elevator Pitch Not just for the elevator  When you introduce yourself  When you’re speaking on the phone  When you leave a voice mail  On your outgoing message  On your website  On your business card, email signature  On any marketing collateral • Who I am • What I do and what I want to do • Why I am so great, my experience • (Subtle) name dropping • End with a specific question The Elevator Pitch: The 2 minutes that can change everythingThe Elevator Pitch: The 2 minutes that can change everything
  • 16. Private and Confidential | 16 Take home messageTake home message In Summary Take home message:  Clarify career objectives  Keep your CV tweaked  Maintain industry knowledge  Network, network, network  Feel good about your accomplishments
  • 17. Private and Confidential | 17 ContentsContents Intro to professional search services How to sell yourself Science and Business: the challenges The importance of Networking Survey from the trenches
  • 18. Private and Confidential | 18 Challenges in finding your first jobChallenges in finding your first job Making the jump from a purely academic training to the practicalMaking the jump from a purely academic training to the practical world of business can be very challengingworld of business can be very challenging How to bridgeHow to bridge the gap betweenthe gap between Science andScience and Business ?Business ? Learn on your ownLearn on your own In Grad. School, you learn how to learnIn Grad. School, you learn how to learn Get a mentorGet a mentor Learn from experienced individualsLearn from experienced individuals VolunteerVolunteer Gain invaluable experienceGain invaluable experience
  • 19. Private and Confidential | 19 DonDon’’t let the frustrating situations slow you downt let the frustrating situations slow you down Top 5 most frustrating responses You don’t have any experience You don’t have any knowledge on that subject No replies to phone messages and emails Canned responses (e.g.: We’re not hiring, do an MBA, etc….) Who are you ? 1 2 3 4 5 How to address these responses Volunteer, be passionate, find “transferable skills” Display that learning is not only easy, but very enjoyable Be “politely persistent”, 3 follow-ups and then let go Get to that person via one of your network, VOILA! Do your homework properly, this one is your fault! 1 2 3 4 5
  • 20. Private and Confidential | 21 ContentsContents Intro to professional search services How to sell yourself Science and Business: the challenges The importance of Networking Survey from the trenches
  • 21. Private and Confidential | 22 Networking: Breaking the stigmaNetworking: Breaking the stigma ““NetworkingNetworking”” often has a negative connotationoften has a negative connotation "More business decisions occur over lunch and dinner than at any other time, yet no MBA courses are given on the subject." -Peter Drucker, Business Management Guru "You can use your business card to get the other person's business card. As far as I'm concerned, this is the one truly legitimate benefit of business cards." -Bob Burg, Author/Motivational Speaker “The currency of real networking is not greed but generosity.” -Keith Ferrazzi, Author Never Eat Alone
  • 22. Private and Confidential | 23 Manage your NetworkManage your Network As your Network increases, it can become hard to manage:As your Network increases, it can become hard to manage: The key is to prioritize!The key is to prioritize! LevelonConnection Degree of Comfort Home Run Contacts Mentors Champions! Very PreciousVery Precious Contacts with large networks can be very useful to launch your career in high gear, be genuine. “C-level” Social Networking (LinkedIn) Mentors Friends Never burn Bridges!Never burn Bridges! Even if some of your contacts do not possess an extensive network, they could be great mentors and advisors. The Networking MatrixThe Networking Matrix
  • 23. Private and Confidential |24 The DoThe Do’’s and Dons and Don’’ts of networkingts of networking Do’s Don’ts Use your contacts. "So-and-so suggested I call you.” Ask for referrals to others who might give you advice. This helps to develop your network. Learn to cold call. "I'm from X university and I understand you graduated from there.” 1 2 3 Don't wait for someone to call you. Avoid sounding like a telemarketer. Don't let rejections stop you. Don't ask for a job—it frightens people. Avoid talking about yourself too much. It’s not all about you, it’s about the relationship. 1 2 3 4 5 Source: Dynamite Networking for Dynamite Jobs Dr. Ronald L. Krannich,
  • 24. Private and Confidential | 25 The DoThe Do’’s and Dons and Don’’ts of networkingts of networking Ask for three things: 1. Information 2. Advice 3. Referrals Use a low-key approach and 70% to 80% of those you contact are likely to help. Develop electronic networking skills. Perfect telephone skills. Don’t take more than 10 to 15 minutes. Then follow with a thank-you letter. 4 5 6 7 Never abuse the process. If you sincerely ask for information, advice and referrals, the conversation is usually rewarding. Try your best to talking in person, but email and phone is better than nothing. Don't stop networking when you get a job. The job you have today may disappear overnight. 6 7 8 Source: Dynamite Networking for Dynamite Jobs Dr. Ronald L. Krannich Do’s Don’ts
  • 25. Private and Confidential | 20 TimelineTimeline 1996 First Science Mentor 2002 Grad School 2005 MaRS Ent101 2006-2007 Networking Volunteering Seminar Extracurricular course 2007 First Job 2004 First Bus. Mentor 2008 Headhunters Maximize your chance of success by leveraging the kind ofMaximize your chance of success by leveraging the kind of activities you pursue in order to gain experienceactivities you pursue in order to gain experience
  • 26. Private and Confidential | 26 Selected BiographySelected Biography
  • 27. Private and Confidential | 27 SummarySummary In Summary Bridging the gap between Science and Business  Learn, learn, learn  Get a mentor  Don’t be afraid of what you don’t know  Be passionate, and communicate that passion, go the extra mile  Okay to be unsure  Don’t aim for the perfect job  Aim for the job where you can learn the most Networking efficiently  Be genuine, be honest and never burn bridges  Don’t bend over backwards for anybody  Be mature, reputation is much easier to loose than to gain  Think outside the box
  • 28. Private and Confidential | 28 ContentsContents Intro to professional search services How to sell yourself Science and Business: the challenges The importance of Networking Survey from the trenches
  • 29. Private and Confidential | 29 Factors for SuccessFactors for Success Factors for Success 12 -- Drive and Passion 7 -- Leadership 6 -- Networking 4 -- Intellect 4 -- Luck and Timing 2 -- Taking Risks 2 -- Effective Planning 4 -- Integrity and Fairness # of Respondents
  • 30. Private and Confidential | 30 Factors Inhibiting SuccessFactors Inhibiting Success Factors Inhibiting Success 12 -- Lack of Belief in Self 8 -- Fear of Risk 5 -- Poor Communication 4 -- Greed and Ego 4 -- Lack of Passion 3 -- Taking Focus 1 -- Dishonestly 5 -- Procrastination # of Respondents
  • 31. Private and Confidential | 31 Interviews with Life Sciences ExecutivesInterviews with Life Sciences Executives “[in order to get the job] I termed this “forensic research”, and played off the readily transferable “research skills” that I had performing scientific research…” ”To this day, the key for me has always been to find ways to migrate and then differentiate myself from others with similar backgrounds…using education and work experience.” -Executive Director, Corporate Development ”Although I was struggling with the fact that I was typecast as a scientist, I demonstrated that the problem solving skills and thoroughness acquired during my graduate studies could be applied in solving complex business issues. -Head of Strategic Planning and Bus. Dev. “I quickly realized that I acquired numerous transferable skills, although I struggled with the time pressure of the business world, I was very fortunate to have great mentors to help me along the way.” -Vice-President, Life Sciences Investment Firm
  • 32. Private and Confidential | 32 Time for questionsTime for questions THANK YOU!THANK YOU! Questions ?Questions ?
  • 33. Private and Confidential | 33 Contact InformationContact Information Teresa SnelgroveTeresa Snelgrove Snelgrove AssociatesSnelgrove Associates 121 Richmond St. W. Suite 302121 Richmond St. W. Suite 302 Toronto, OntarioToronto, Ontario M5H 2K1M5H 2K1 T (416) 359-9212 ext 224T (416) 359-9212 ext 224 F (416) 359-9420F (416) 359-9420 E teresa@snelgroveassociates.comE teresa@snelgroveassociates.com Frédéric D. SweeneyFrédéric D. Sweeney SHI CapitalSHI Capital 162 Cumberland Street, Suite 310 Toronto, Ontario M5R 3N5 T (416) 236-1054 ext 2205 F (416) 236-2801 E fsweeney@shicapital.comE fsweeney@shicapital.com Do not hesitate to contact us!Do not hesitate to contact us!

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