Entrepreneurship 101 - Managing Your Career

Managing your Career How to sell yourself and attain your career goals Prepared for MaRS Entrepreneurship 101 Lecture Series January 23rd, 2008 Prepared by Teresa Snelgrove, Snelgrove Associates Frédéric Sweeney, SHI Capital 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

Contents Intro to professional search services How to sell yourself Science and Business: the challenges The importance of Networking Survey from the trenches Private and Confidential | 2

Introduction to Head-Hunters Professional search firms are contracted by Companies to identify the most promising candidates for a specific position. Different types of Search Firms and how they work ? 1. Staffing 2. Contingent 3. Retained Private and Confidential | 3

Introduction to Head-Hunters Professional search firms are contracted by different Companies to identify the 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 ? Private and Confidential | 4

Snelgrove Associates Snelgrove Associate is a leading search firm within the life sciences and IT industry HOW DO YOU or SHOULD YOU GO THROUGH A PROFESSIONAL RECRUITNG FIRM? Private and Confidential | 5

Taking the Pulse of the Audience LOOK 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 are thinking of making a career move within the next 2 years ? (internal or external) How many think they now have the dream job ? What obstacles are you faced with finding a job ? Private and Confidential |6

Job searching is an excellent opportunity to learn about yourself Key Issues with Job Search Knowing what you really want. Knowing how to get it Getting people to help you Differentiating yourself from 1000’s “similar” candidates Having realistic expectations Private and Confidential | 7

Contents Intro to professional search services How to sell yourself Science and Business: the challenges The importance of Networking Survey from the trenches Private and Confidential |8

How to manage your career efficiently Efficient career management requires constant attention COMFORT ZONE CONSULTING STAY PUT INVESTMENT JOB SEARCH FIRMS BANKS AMBITIONS DUE FINANCIAL STABILITY DILIGENCE AND DREAMS FINANCIAL INTERNAL NETWORK INTELLECTUAL PROMOTION MANGEMENT POWER STRATEGY FEAR ? INFORMED TRANS- CONFLICT ? APPROACH ACTIONAL Managing Your Career: A Four Step Process 1. Define your product (i.e.: YOU!) 2. Determine your market 3. Make a plan * Borrowed unabashedly from 4. Use effective marketing channels* William Bridges’ “You & Co.” Private and Confidential | 9

STEP 1: Define Yourself Being self-aware of your true abilities is paramount in identifying key employment opportunities 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” Private and Confidential | 10

STEP 1: Define Yourself A great job is also a job that allows you to learn, grow and one who opens doors to bigger/greater opportunities 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 Private and Confidential | 11

STEP 2: Identify your target jobs Your qualifications will help you identify the potential employment opportunities, but DO NOT limit yourself, think outside the box! 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 Private and Confidential | 12

STEP 3: THE PLAN Cliché ALERT: You only have one chance to make a good impression! 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) Private and Confidential | 13

STEP 4: GET OUT THERE !!! Maximize your exposure by using different and original ways of communicating your interests and goals Use Effective Marketing Channels GET OUT THERE AND NETWORK 1. Industry organizations and contacts 2. Business acquaintances 3. Recruiters 4. Volunteering Private and Confidential |14

The Elevator Pitch: The 2 minutes that can change everything The Elevator Pitch is the key in order to get a message across in a clear, short and organized manner • Who I am Elevator Pitch • What I do and what I want to do Not just for the elevator • Why I am so great, my experience • (Subtle) name dropping • End with a specific question  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 Private and Confidential | 15

Take 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 Private and Confidential | 16

Challenges in finding your first job Making the jump from a purely academic training to the practical world of business can be very challenging How to bridge the gap between Science and Business ? Learn on your own In Grad. School, you learn how to learn Get a mentor Learn from experienced individuals Volunteer Gain invaluable experience Private and Confidential | 18

Don’t let the frustrating situations slow you down Top 5 most frustrating responses 1 You don’t have any experience 2 You don’t have any knowledge on that subject 3 No replies to phone messages and emails 4 Canned responses (e.g.: We’re not hiring, do an MBA, etc….) 5 Who are you ? How to address these responses 1 Volunteer, be passionate, find “transferable skills” 2 Display that learning is not only easy, but very enjoyable 3 Be “politely persistent”, 3 follow-ups and then let go 4 Get to that person via one of your network, VOILA! 5 Do your homework properly, this one is your fault! Private and Confidential | 19

Networking: Breaking the stigma “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 Private and Confidential | 22

Manage your Network As your Network increases, it can become hard to manage: The key is to prioritize! The Networking Matrix Very Precious Level on Connection Home Run Mentors Contacts with large networks Contacts Champions! can be very useful to launch your career in high gear, be genuine. “C-level” Never burn Bridges! Social Mentors Even if some of your contacts Networking Friends do not possess an extensive (LinkedIn) network, they could be great mentors and advisors. Degree of Comfort Private and Confidential | 23

The Do’s and Don’ts of networking Do’s Don’ts 1 Use your contacts. \"So-and-so 1 Don't wait for someone to call you. suggested I call you.” 2 Avoid sounding like a telemarketer. 2 Ask for referrals to others who might give you advice. This helps to develop your 3 Don't let rejections stop you. network. 4 Don't ask for a job—it frightens 3 Learn to cold call. \"I'm from X people. university and I understand you graduated from there.” 5 Avoid talking about yourself too much. It’s not all about you, it’s about the relationship. Source: Dynamite Networking for Dynamite Jobs Dr. Ronald L. Krannich, Private and Confidential |24

The Do’s and Don’ts of networking Do’s Don’ts 4 Ask for three things: 6 Never abuse the process. If you 1. Information sincerely ask for information, 2. Advice 3. Referrals advice and referrals, the conversation is usually rewarding. 5 Use a low-key approach and 70% to 80% of those you 7 Try your best to talking in person, contact are likely to help. but email and phone is better than nothing. 6 Develop electronic networking skills. Don't stop networking when you 8 get a job. The job you have today Perfect telephone skills. Don’t may disappear overnight. 7 take more than 10 to 15 minutes. Then follow with a thank-you letter. Source: Dynamite Networking for Dynamite Jobs Dr. Ronald L. Krannich Private and Confidential | 25

Timeline Maximize your chance of success by leveraging the kind of activities you pursue in order to gain experience 1996 2002 2004 2005 2006-2007 2007 2008 First Grad School First MaRS Networking First Job Headhunters Science Mentor Bus. Mentor Ent101 Volunteering Seminar Extracurricular course Private and Confidential | 20

Selected Biography Private and Confidential | 26

Summary 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 Private and Confidential | 27

Factors for Success Factors for Success 12 -- Drive and Passion 7 -- Leadership 6 -- Networking 4 -- Integrity and Fairness 4 -- Luck and Timing 4 -- Intellect 2 -- Taking Risks 2 -- Effective Planning # of Respondents Private and Confidential | 29

Factors Inhibiting Success Factors Inhibiting Success 12 -- Lack of Belief in Self 8 -- Fear of Risk 5 -- Poor Communication 5 -- Procrastination 4 -- Lack of Passion 4 -- Greed and Ego 3 -- Taking Focus 1 -- Dishonestly # of Respondents Private and Confidential | 30

Interviews 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 Private and Confidential | 31

Time for questions THANK YOU! Questions ? Private and Confidential | 32

Contact Information Do not hesitate to contact us! Teresa Snelgrove Frédéric D. Sweeney Snelgrove Associates SHI Capital 121 Richmond St. W. Suite 302 162 Cumberland Street, Suite 310 Toronto, Ontario Toronto, Ontario M5H 2K1 M5R 3N5 T (416) 359-9212 ext 224 T (416) 236-1054 ext 2205 F (416) 359-9420 F (416) 236-2801 E teresa@snelgroveassociates.com E fsweeney@shicapital.com Private and Confidential | 33

Entrepreneurship 101 - Managing Your Career

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