Making Critical Career Decisions Entrepreneurship 101 January 23, 2007 Teresa Snelgrove Executive Recruiter &Venture Backed Entrepreneur

It all starts with you Where are you today…where have you been…where do you want to go Making change happen – not easy Selling yourself – easier and 4 tips Elevator statement Networking

Where are you today…where have you been…where do you want to go

Making change happen – not easy

Selling yourself – easier and 4 tips

Elevator statement

Networking

Managing Your Career A Four Step Process Define your product Determine your market Make a plan Use effective marketing channels * * Borrowed unabashedly from William Bridges’ “You & Co.”

Define your product

Determine your market

Make a plan

Use effective marketing channels *

* Borrowed unabashedly from William Bridges’ “You & Co.”

1. Define Your Product Things I do well OR Things I do for my Customer: 1. _______________________________ 2 _______________________________ 3. _______________________________ 4. _______________________________

Things I do well OR Things I do for my

Customer:

1. _______________________________

2 _______________________________

3. _______________________________

4. _______________________________

2. Determine Your market Who are your target companies or target customers Internal External

Who are your target companies or target customers

Internal

External

3. Make a Plan Create your own marketing plan Define your goal Define your target audience Communicating the value of your product Elevator statement Become visible to your buyers Networking

Create your own marketing plan

Define your goal

Define your target audience

Communicating the value of your product

Elevator statement

Become visible to your buyers

Networking

4. Use Effective Marketing Channels Industry organizations Industry contacts Business Acquaintances Recruiters Volunteering – internal & external

Industry organizations

Industry contacts

Business Acquaintances

Recruiters

Volunteering – internal & external

So You Want Change to Happen Tell people what you want to do and why it’s a good plan Listen to what those people say – don’t dismiss advice out of hand Never say never; sometime opportunities come out of the most curious places Craft your elevator statement

Tell people what you want to do and why it’s a good plan

Listen to what those people say – don’t dismiss advice out of hand

Never say never; sometime opportunities come out of the most curious places

Craft your elevator statement

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

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

Elevator Statement What is it: A brief description of who you are and who you do it for How you offer value, benefit, quality Elevator pitch YOU=IT

What is it:

A brief description of who you are and who you do it for

How you offer value, benefit, quality

Elevator pitch YOU=IT

Creating the elevator pitch…your product Things I do for my customer or things I can do for my next employer Reasons why people do business with me or reasons why I’ve been hired in the past. What problems did they want me to solve

Things I do for my customer or things I can do for my next employer

Reasons why people do business with me or reasons why I’ve been hired in the past. What problems did they want me to solve

Differentiate Yourself How do you differ from your peers or classmates? Differentiate with “proof” statements, not subjective ones Strategic Thinker OR repositioned company Good people skills OR low employee turnover Profit-focused OR Increased ROI by 5.5%

How do you differ from your peers or classmates?

Differentiate with “proof” statements, not subjective ones

Strategic Thinker OR repositioned company

Good people skills OR low employee turnover

Profit-focused OR Increased ROI by 5.5%

In Summary :The Elevator Test A sound bite that reminds people of what you have been doing, and more importantly, what you want Focused Memorable Differentiates you from others in the field Invites further dialogue with those whom you will network to achieve your goal

A sound bite that reminds people of what you have been doing, and more importantly, what you want

Focused

Memorable

Differentiates you from others in the field

Invites further dialogue with those whom you will network to achieve your goal

Networking by Spreadsheet You have 50 real contacts in life You can’t manage 50 contacts without a “system”

You have 50 real contacts in life

You can’t manage 50 contacts without a “system”

NETWORK You have 50 contacts in life You can’t manage 50 contacts without a “system” You can’t treat all 50 contacts the same way .

You have 50 contacts in life

You can’t manage 50 contacts without a “system”

You can’t treat all 50 contacts the same way .

Networking by Spreadsheet Rank your contacts: 15 “A’s” – most important Your mentor or previous manager Your biggest client Your biggest potential client 15 “B’s” – not so important 20 “C’s” may someday be important

Rank your contacts: 15 “A’s” – most important

Your mentor or previous manager

Your biggest client

Your biggest potential client

15 “B’s” – not so important

20 “C’s” may someday be important

Networking by Spreadsheet Cynthia Goh Phone 2x month Previous colleague Email every other month Recruiter Phone or email once a month Tony Redpath November October September Contact Strategy “ A’s”

Networking by Spreadsheet Review contact activity regularly: “Gee, I haven’t spoken with Tony in ages”

Review contact activity regularly:

“Gee, I haven’t spoken with Tony in ages”

Networking by Spreadsheet Review contact activity regularly: Don’t favour highly familiar over high potential .

Review contact activity regularly:

Don’t favour highly familiar over high potential .

Networking by Spreadsheet Review contact activity regularly: Don’t favour highly familiar over high potential. Turn cold calls into warm calls

Review contact activity regularly:

Don’t favour highly familiar over high potential.

Turn cold calls into warm calls

Networking by Spreadsheet Review contact activity regularly: Don’t favour highly familiar over high potential. Turn cold calls into warm calls Cultivate and cull your C’s

Review contact activity regularly:

Don’t favour highly familiar over high potential.

Turn cold calls into warm calls

Cultivate and cull your C’s

Recap: It all starts with you Where you are today….where have you been…where do you want to go Today = transition mode How did I choose my career

Where you are today….where have you been…where do you want to go

Today = transition mode

How did I choose my career

Questionnaire for Entrepreneurship 101 MaRS Lecture Series How and why did you choose your field of study? Have you managed your career or has it just happened? Who have been the key influencers in your career? What do you think has made you successful? What do you think holds people back from being successful?

How and why did you choose your field of study?

Have you managed your career or has it just happened?

Who have been the key influencers in your career?

What do you think has made you successful?

What do you think holds people back from being successful?

How did you choose your field of study

Where do I go? What shall I do? Courtesy Christian Burks undergraduate training graduate training: life sciences graduate training: law graduate training: MBA biotech & pharma university research lab government research lab law firm journalism & entertainment industry government patent office venture capital & investment banks education

How did I get here? = correct prediction ??? Courtesy Christian Burks, CEO, OGI non-profit virtual research institute: fund raising Ontario Genomics Institute (Toronto, Ontario) Start-up biotech start-up biotech: proteomics, drug discovery Affinium (Toronto, Ontario) Start-up biotech start-up biotech: genomics, drug discovery Exelixis (South San Francisco, CA) Basic research on gene regulatory signals Biology resource building: bioinformatics, GenBank, genomics, software tools Los Alamos National Lab (Los Alamos, New Mexico) Academic research on molecular basis of cognition grad work in molecular biophysics: enzymology, x-ray & neutron diffraction Yale University (New Haven, Connecticut) Graduate work in physics Great Books Program: evolution of western thought St. John’s College (Santa Fe, New Mexico) Mountain guide in Wyoming general education: literature, skiing, climbing Golden High School (Golden, Colorado) Planned Next Step Job Description Station

Career Management   A Bit of Both   Actively Managed   Just Happened Other CEOs

Key Influencers Over your Career  Through Networking  Career Counsellor  Employees  Peers   Supervisors, bosses   Family & Friends   Professors Others CEO’s

Factors for Success   Taking risks  Excellent communication skills   Drive, passion  Leadership skills   Networking   Surrounding yourself with good people   Intellect   Understanding People  Effective Planning (both strategy and implementation)  Being flexible and open-minded  Integrity & Fairness  Seizing the Opportunity  Luck Early Stage CEO

Factors Inhibiting Success

Sample Career Path Timeline

Question and Answers Q & A

Contact Information Teresa Snelgrove Snelgrove Associates 121 Richmond St. W. Suite 302 Toronto, Ontario M5H 2K1 T (416) 359-9212 ext 224 F (416) 359-9420 E [email_address]

Teresa Snelgrove

Snelgrove Associates

121 Richmond St. W. Suite 302

Toronto, Ontario

M5H 2K1

T (416) 359-9212 ext 224

F (416) 359-9420

E [email_address]