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Managing Your Career: The art of selling yourself

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You manage your research. You want to manage a business. How about managing your career? …

You manage your research. You want to manage a business. How about managing your career?

Dr. Teresa Snelgrove of ProFitHR and Dr. Frederick Sweeney of VG Partners talk 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.

Part of the CIBC Presents Entrepreneurship 101 lecture series: http://www.marsdd.com/ent101

Published in: Business, Career
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  • 1. Follow or Tweet: #ent101
  • 2. The material contained in this document is strictly confidential and the sole property of VGPartners Inc.
  • 3. Taking the Pulse of the Audience Agenda Factors Influencing/Inhibiting Success The Networking Universe Bridging the Gap, Taking the Leap Skill Set: Hard vs. Soft Skills
  • 4. Agenda Taking the Pulse of the Audience Factors Influencing/Inhibiting Success The Networking Universe Bridging the Gap, Taking the Leap Skill Set: Hard vs. Soft Skills
  • 5. Taking the Pulse of the Audience What defines success? Who are you? •  Students, post-docs •  Employed •  Entrepreneur •  Aspiring Entrepreneur? Have you experienced success? •  What kind? •  What is the definition of success? What are the critical factors defining success?
  • 6. Taking the Pulse of the Audience What defines 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
  • 7. Factors for Success Drive and Passion -CURT ROSENGREN, THE OCCUPATIONAL ADVENTURE BLOG “Passion is the energy that comes from bringing more of YOU into what you do.”
  • 8. Factors for Success Leadership -WARREN BENNIS “Leadership is a function of knowing yourself, having a vision that is well communicated, building trust among colleagues, and taking effective action to realize your leadership potential.”
  • 9. Taking the Pulse of the Audience What factors inhibit 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 -- Dishonesty 5 -- Procrastination # of Respondents
  • 10. Agenda Taking the Pulse of the Audience Factors Influencing/Inhibiting Success The Networking Universe Bridging the Gap, Taking the Leap Skill Set: Hard vs. Soft Skills
  • 11. The Networking Universe Network Matrix LevelofConnection Degree of Comfort Home Run Contacts Mentors Champions! “C-level” Social Networking (LinkedIn) Mentors Friends
  • 12. The Networking Universe The Networking Universe The A List - the priority •  Potential customers/clients •  Friends of the project •  Mentors/counselors •  Collaborators •  Your team The B List – near term •  Issue identified -> customer one step removed •  Contacts of existing customer/s •  Perceived influencers •  Possible barriers identified The C List – next 12 months
  • 13. The Networking Universe Mentorship Finding a Mentor •  Similarities in personality •  Sharing of lessons learned •  Has to operate on both the professional and personal level •  Transparency essential….as is honesty
  • 14. The Networking Universe Managing these Relationships Provide Professional Information Be a Connector Provide Personal Help How and what? Be an advisor, counsellor, mentor How and what? Re-engage the Universe, Especially the A List
  • 15. Taking the Pulse of the Audience Agenda Factors Influencing/Inhibiting Success The Networking Universe Bridging the Gap, Taking the Leap Skill Set: Hard vs. Soft Skills
  • 16. Bridging the Gap, Taking the Leap Making the jump from a purely academic training to the practical world of business can be very challenging
  • 17. Bridging the Gap, Taking the Leap The inertia dilemma, are you pursuing this for the right reasons CONSULTING FIRMS INVESTMENT BANKS DUE DILIGENCE MANGEMENT STRATEGY FINANCIAL NETWORK POWER TRANS- ACTIONAL STAY PUT JOB SEARCH STABILITY INTERNAL PROMOTION FEAR? FINANCIAL INTELLECTUAL CONFLICT? COMFORT ZONE AMBITIONS AND DREAMS INFORMED APPROACH The Career Dilemma Should I stay or should I go?
  • 18. Bridging the gap, taking the leap Self-assessment, be realistic How are you going to differentiate yourself? Do you know what you want to do? Do you have the network, how are you going to get the network? What are the reasons why you pursue this? Do you know the space you are getting into?
  • 19. Bridging the Gap, Taking the Leap Do you know what you want to do? Think of the home run Focus on getting to first base 2000 2003 2009 2010-2012 20132007 2015 Find a path that fits with your skills, and build from that Use your skills as a selling point... ...but find something that keeps you out of your comfort zone Be persistent
  • 20. Bridging the Gap, Taking the Leap Do you know the space you are getting into? Educate yourself on your field of choice •  Network •  Books •  Blogs Know the space, players, lingo •  Find someone who works in the space •  Get a realistic view of the space •  Ask what are your blind spots What are the reasons why you pursue this? •  Money is not a reason •  Consider quality of life, intellectual freedom •  Do your homework to understand what is required to succeed in the field
  • 21. Bridging the Gap, Taking the Leap The Elevator Pitch: The 2 minutes that can change everything   When you introduce yourself   When you’re speaking on the phone   When you leave a voice mail   In an interview - obviously   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 Elevator Pitch Not just for the elevator
  • 22. Bridging the Gap, Taking the Leap Do you have the network, how are you going to get the network? LevelofConnection Degree of Comfort Home Run Contacts Mentors Champions! “C-level” Social Networking (LinkedIn) Mentors Friends How to build your network, helpful tips
  • 23. Bridging the Gap, Taking the Leap “Networking” often 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
  • 24. Bridging the gap, taking the leap How to build your network, helpful tips Three Golden Rules Do your homework, know who you are talking to Remember that networking is not about schmoozing Lose your sense of self-entitlement
  • 25. Bridging the gap, taking the leap How to build your network, helpful tips 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,
  • 26. Bridging the gap, taking the leap How to build your network, helpful tips 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 up 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 talk 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
  • 27. Taking the Pulse of the Audience Agenda Factors Influencing/Inhibiting Success The Networking Universe Bridging the Gap, Taking the Leap Skill Set: Hard vs. Soft Skills
  • 28. Skill Set: Hard vs. Soft Skills Emotional intelligence is often what is going to differentiate you EQ is Key Your education is necessary but often not sufficient Relying on your education provides a false sense of self-entitlement Entrepreneurial ventures and businesses require more EQ skills that you might think
  • 29. Skill Set: Hard vs. Soft Skills Utilize your inner, something innate skills set (IQ and EQ): Venture Capital Hard Skills (Education and Experience) •  Strategic Consulting •  Operational Background •  Often have to identify key issues and define clear solutions as well as advise on overall strategic direction of the portfolio companies •  In life sciences, often a graduate degree (PhD) alongside business development or startup experience is a must •  Financial Acumen •  Work hand-in-hand with the CFO of portfolio companies •  Work with investment bankers during exits (M&A, IPO) •  Financial modeling to evaluate the outcome of financing/licensing deals •  MBA from top school is advantageous An obsessive attention to detail along with strong analytical skills
  • 30. Skill Set: Hard vs. Soft Skills Utilize your inner, something innate skills set (IQ and EQ): Venture Capital Soft Skills (EQ) • Relationship Management Skills • Getting things done with the portfolio companies • Building a colossal network • Build strong management teams for portfolio companies • Identify valuable co-investor, corporate partners, acquirers • Perform due diligence • Bring in deal flow • Good Judgment and Maturity • Strong intuition, curious mind and vision • Often have to communicate/push back with much older and experienced individuals
  • 31. Selected References

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