entrepreneurship 101 - managing your career

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Managing your CareerManaging your CareerHow to sell yourself and attain your career goalsHow to sell yourself and attain your career goals

Prepared forPrepared forMaRS Entrepreneurship 101 Lecture SeriesMaRS Entrepreneurship 101 Lecture Series

January 23rd, 2008January 23rd, 2008 Prepared byPrepared byTeresa SnelgroveTeresa Snelgrove, Snelgrove Associates, Snelgrove Associates

Frédéric SweeneyFrédéric Sweeney, SHI Capital, SHI Capital

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


Introduction to Head-HuntersIntroduction to Head-HuntersProfessional 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


Introduction to Head-HuntersIntroduction to Head-HuntersProfessional 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 ?


Snelgrove AssociatesSnelgrove AssociatesSnelgrove 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 or or SHOULD YOUSHOULD YOU GO THROUGH A GO THROUGH APROFESSIONAL RECRUITNG FIRM?PROFESSIONAL RECRUITNG FIRM?

Private and Confidential |6

Taking the Pulse of the AudienceTaking the Pulse of the AudienceLOOK 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)


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


ContentsContents

Intro to professional search services






How to manage your career efficientlyHow to manage your career efficientlyEfficient career management requires constant attentionEfficient career management requires constant attention

CONSULTING FIRMS

INVESTMENT BANKS

DUE DILIGENCE

MANGEMENT

STRATEGY

FINANCIAL

NETWORK POWER

TRANS-ACTIONAL

INFORMEDINFORMEDAPPROACHAPPROACH

STAY PUT JOB SEARCH

STABILITY

INTERNAL PROMOTION

FEAR ?

FINANCIAL

INTELLECTUAL

CONFLICT ?

COMFORT ZONE

AMBITIONSAND DREAMS

INFORMEDINFORMEDAPPROACHAPPROACH

Managing Your Career: A Four Step Process

1. Define your product (i.e.: YOU!)2. Determine your market3. Make a plan4. Use effective marketing channels*

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


Define your product, define yourself

Part I: What value can I add to my future employer or company ?

1. Things I do well2. Things I like to do3. 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 YourselfBeing 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


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 greater3. A great learning experience to broaden my skill set4. 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 opensdoors to bigger/greater opportunitiesdoors to bigger/greater opportunities

STEP 1: Define YourselfSTEP 1: Define Yourself


Determine your market, your target jobs

Take a long, HARD look at yourself and be realistic

1. The first job is rarely the ideal job2. Your qualification might not be a perfect fit3. Break the “lack of experience” vicious circle4. Do your due diligence

STEP 2: Identify your target jobsSTEP 2: Identify your target jobsYour 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!


Make a Plan

Create your own “marketing plan”

1. Define your goals2. Define your target audience3. 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


Use Effective Marketing Channels

GET OUT THERE AND NETWORK

1. Industry organizations and contacts2. Business acquaintances3. Recruiters4. 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


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 ina clear, short and organized mannera clear, short and organized manner

Elevator PitchNot 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


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


ContentsContents







Challenges in finding your first jobChallenges in finding your first jobMaking 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 bridgethe gap betweenthe gap between

Science andScience andBusiness ?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


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 experienceYou don’t have any knowledge on that subjectNo replies to phone messages and emailsCanned 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 enjoyableBe “politely persistent”, 3 follow-ups and then let goGet to that person via one of your network, VOILA!Do your homework properly, this one is your fault!

1

2

3

4

5


ContentsContents







Networking: Breaking the stigmaNetworking: Breaking the stigma““NetworkingNetworking”” often has a negative connotation often has a negative connotation

"More business decisions occur over lunch and dinner than at anyother 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 businesscard. As far as I'm concerned, this is the one truly legitimate benefitof business cards."

-Bob Burg, Author/Motivational Speaker

“The currency of real networking is not greed but generosity.”-Keith Ferrazzi, Author Never Eat Alone


Manage your NetworkManage your NetworkAs 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!Le

vel o

n C

onne

ctio

n

Degree of Comfort

Home RunContacts

MentorsChampions!

Very PreciousVery Precious

Contacts with large networkscan be very useful to launchyour career in high gear, be

genuine.

“C-level”Social

Networking(LinkedIn)

MentorsFriends

Never burn Bridges!Never burn Bridges!

Even if some of your contactsdo not possess an extensivenetwork, they could be great

mentors and advisors.

The Networking MatrixThe Networking Matrix


The DoThe Do’’s and Dons and Don’’ts of networkingts of networking

Do’s Don’ts

Use your contacts. "So-and-sosuggested I call you.”

Ask for referrals to others whomight give you advice. Thishelps to develop yournetwork.

Learn to cold call. "I'm from Xuniversity and I understandyou 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 frightenspeople.

Avoid talking about yourself toomuch. It’s not all about you, it’sabout the relationship.

1

2

3

4

5

Source: Dynamite Networking for Dynamite Jobs Dr. Ronald L. Krannich,


The DoThe Do’’s and Dons and Don’’ts of networkingts of networking

Ask for three things:1. Information2. Advice3. Referrals

Use a low-key approach and70% to 80% of those youcontact are likely to help.

Develop electronic networkingskills.

Perfect telephone skills. Don’ttake more than 10 to 15minutes. Then follow with athank-you letter.

4

5

6

7

Never abuse the process. If yousincerely ask for information,advice and referrals, theconversation is usually rewarding.

Try your best to talking in person,but email and phone is better thannothing.

Don't stop networking when youget a job. The job you have todaymay disappear overnight.

6

7

8

Source: Dynamite Networking for Dynamite Jobs Dr. Ronald L. Krannich

Do’s Don’ts


TimelineTimeline

1996First Science Mentor

2002Grad School

2005MaRSEnt101

2006-2007NetworkingVolunteeringSeminarExtracurricular course

2007First Job

2004First Bus. Mentor

2008Headhunters

Maximize your chance of success by leveraging the kind ofMaximize your chance of success by leveraging the kind ofactivities you pursue in order to gain experienceactivities you pursue in order to gain experience


Selected BiographySelected Biography


SummarySummary

In SummaryBridging 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


ContentsContents







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


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


Interviews with Life Sciences ExecutivesInterviews with Life Sciences Executives

“[in order to get the job] I termed this “forensic research”, and played off thereadily 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 thendifferentiate myself from others with similar backgrounds…using education andwork experience.”

-Executive Director, Corporate Development

”Although I was struggling with the fact that I was typecast as a scientist, Idemonstrated that the problem solving skills and thoroughness acquired during mygraduate 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 Istruggled with the time pressure of the business world, I was very fortunate tohave great mentors to help me along the way.”

-Vice-President, Life Sciences Investment Firm


Time for questionsTime for questions

THANK YOU!THANK YOU!Questions ?Questions ?


Contact InformationContact Information

Teresa SnelgroveTeresa SnelgroveSnelgrove AssociatesSnelgrove Associates121 Richmond St. W. Suite 302121 Richmond St. W. Suite 302Toronto, OntarioToronto, OntarioM5H 2K1M5H 2K1T (416) 359-9212 ext 224T (416) 359-9212 ext 224F (416) 359-9420F (416) 359-9420E [email protected] [email protected]

Frédéric D. SweeneyFrédéric D. SweeneySHI CapitalSHI Capital162 Cumberland Street, Suite 310Toronto, OntarioM5R 3N5T (416) 236-1054 ext 2205F (416) 236-2801E [email protected] [email protected]

Do not hesitate to contact us!Do not hesitate to contact us!

entrepreneurship 101 - managing your career

Business

great job

job market

professional search

search process

kind of search

job searching

job searchknowing

dream job