Uncovering Your Best Industry Options Pt. 3

If you have no knowledge of an industry but have an interest in exploring situations, extra steps are recommended. As mentioned, the easiest way to acquire knowledge of a new industry, and gain credibility for it, is to read trade publications. They will bring you up to date on personnel changes, new products, information on companies, and challenges as seen by industry leaders.

Another way to acquire knowledge is to talk with executives already in the field. In some cases you can go further by getting more formal input, attending trade shows and the like. The most radical approach is to take a lower level job in an industry in order to acquire knowledge.

During the last decade we’ve witnessed declines in many industries. However, don’t overlook opportunities in troubled industries. Executives who have worked for firms under pressure often find they can be valuable to distributors or consulting firms. Those who learned tough lessons in competitive battles can function as veterans in any industry.

As you begin to consider industry options, you’ll also need to decide whether you should take a narrow view. This is essential if there are a lot of growth companies in the industries to which you relate best.

However, if you are part of an industry that is suffering a decline, then you will want to adopt a broad view of your options. The more you understand the dynamics of a market, the more you can spot potential opportunities.

Historically, executives tend to overrate the barriers and to underrate their own abilities to make contributions in new areas. It is, of course, up to you to take the initiative to learn something about new companies, new industries, and the problems and opportunities they face.

As you review potential industries of interest, remember that while glamorous high tech and service businesses receive 90% of the publicity today, many executives will find far more opportunities in industries that are considered low tech or non-glamorous by today’s standards.

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Uncovering Your Best Industry Options Pt. 2

Despite our recent economic slowdown, new companies have sprung up throughout America. Established organizations are reexamining the way they do business. Medium-sized companies are expanding. New industries exist that are employing tens of thousands.

The more you appear to know about an industry, the easier it is to generate interviews. Virtually all employers look for “common ground” when hiring a new person. For example, do you have experience in or knowledge of similar product lines, distribution channels, manufacturing methods or problems in their industry? There can be other similarities. Consider the scope of operations, the role of advertising and promotion, the importance of the sales organization, the influence of labor, and other items.

Naturally, the harder it is to demonstrate knowledge of an industry, the less likely an executive is to make a move into it. That rule applies to all major disciplines: sales, marketing, finance, manufacturing and operations. It is less important in staff disciplines. Here are some examples of commonplace changes:

■ A marketing executive with a tobacco company joined a cosmetics firm. Why? Their methods of marketing are similar.

■ The EVP of a circuit board company was recruited to become president of a firm that makes power packs. Why? These industries have similarities in manufacturing and sales, even though the products are so different.

■ An executive of an aerospace company was recruited to become chairman of a small company that sells high tech services to defense contractors. Why? The key was the new chairman’s contacts and knowledge of the marketplace.

■ The controller of a component manufacturer was brought in as president of a company that produces plastic packaging. Why? The similarities have to do with cost control as the #1 challenge.

For more information be sure to check out SET Personal Marketing's Twitter, follow SET Personal Marketing's Facebook, watch SET Personal Marketing's videos on YouTube or visit SET Personal Marketing's website.

Uncovering Your Best Industry Options Pt. 1

We will want to help market you so that you are attractive to the widest range of employers. Experience has proven that people of all ages are moving into exciting new industries, and with less difficulty than in the past. If industry change is of interest to you, please review this brief discussion.

Transition to a new industry is easier than it used to be. Historically, people have overrated the barriers and underrated their abilities to move into new areas. The vast majority of all new jobs are created by small and mid-sized businesses. So, while major employers are still important, you may want to explore positions with startups or emerging companies.

If you choose the right industry, you will have more growth opportunities, perhaps meaningful stock options, an environment that is likely to be more positive, a chance for more regular pay increases and probably advancement.

Identifying new industry options

The first way to do this is to increase your awareness of the fastest growing industries and companies. These firms have to go outside their industry to find the best talent and skills.

The second way is to list characteristics of your industries... and find similar industries. We use software to compare your industry’s characteristics with 2,500 others... e.g., 35 industries may be an 85% match.

Keep in mind that projecting some form of an “industry hook” is the next best thing to having industry experience. Group your possibilities three ways: (1) close industry hooks, easy possibilities; (2) medium industry hooks, next best; (3) far reach or stretch industry hooks.

When changing industries, you also don’t want to overlook your leverage power... the added benefits you may bring by virtue of your contacts or knowledge. You may be able to bring a team with you that helped in similar situations.

For more information be sure to check out SET Personal Marketing's Twitter, follow SET Personal Marketing's Facebook, watch SET Personal Marketing's videos on YouTube or visit SET Personal Marketing's website.

Think Ahead

So you've impressed an employer with your resume, but now comes the interview. You can't let your nerves get the best of you. The best way to go into an interview with the most confidence, is to plan ahead and quiz yourself with questions you think you may be asked. No interview is exactly like another, but some questions are bound to resurface depending on your profession. You might be taken by surprise by some questions, but there are others you should expect to be asked. Go into detail when explaining what you bring to the company with examples from your past. Use these work examples to show why you have all the necessary experience to add to the overall success of the business.

Be direct in the interview. The best way to do this is to think of questions before the interview and answer them in the most detailed explanation, without droning on. No doubt your new job will have stressful times. The interview is a way for your boss to see how you handle stress and being put on the spot. All the other pieces to the puzzle may be there for you to be a great addition to the organization, but there may be another candidate who gets the position because they were more prepared and confident in the interview.

So, to review the plan:

1. Think of questions you have been asked before in previous interviews. Find out from friends in the same line of work what they were asked.

2. Formulate what your answers to these questions are going to be.

3. Know there will be at least one question you didn’t plan on being asked, so when the time comes, you don’t feel completely sideswiped.

Going over your resume and talking about your skills will happen in the interview no matter what. The interview is the time for the boss to see who you are. They want to see what your personally is like and what you will bring to the feel of the business, not just the bottom line. Know that the interview is when you will seal the deal for your next career opportunity.