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? 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

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Page 1: Managing Your Career: The art of selling yourself

Follow or Tweet: #ent101

Page 2: Managing Your Career: The art of selling yourself

The material contained in this document is strictly confidential and the sole property of VGPartners Inc.

Page 3: Managing Your Career: The art of selling yourself

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

Page 4: Managing Your Career: The art of selling yourself

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

Page 5: Managing Your Career: The art of selling yourself

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?

Page 6: Managing Your Career: The art of selling yourself

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

Page 7: Managing Your Career: The art of selling yourself

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.”

Page 8: Managing Your Career: The art of selling yourself

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.”

Page 9: Managing Your Career: The art of selling yourself

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

Page 10: Managing Your Career: The art of selling yourself

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

Page 11: Managing Your Career: The art of selling yourself

The Networking Universe Network Matrix

Leve

l of

Conn

ectio

n

Degree of Comfort

Home Run Contacts

Mentors Champions!

“C-level” Social Networking

(LinkedIn)

Mentors Friends

Page 12: Managing Your Career: The art of selling yourself

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

Page 13: Managing Your Career: The art of selling yourself

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

Page 14: Managing Your Career: The art of selling yourself

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

Page 15: Managing Your Career: The art of selling yourself

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

Page 16: Managing Your Career: The art of selling yourself

Bridging the Gap, Taking the Leap Making the jump from a purely academic training to the practical world of business can be very challenging

Page 17: Managing Your Career: The art of selling yourself

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?

Page 18: Managing Your Career: The art of selling yourself

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?

Page 19: Managing Your Career: The art of selling yourself

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 2013 2007 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

Page 20: Managing Your Career: The art of selling yourself

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

Page 21: Managing Your Career: The art of selling yourself

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

Page 22: Managing Your Career: The art of selling yourself

Bridging the Gap, Taking the Leap Do you have the network, how are you going to get the network?

Leve

l of

Conn

ectio

n

Degree of Comfort

Home Run Contacts

Mentors Champions!

“C-level” Social Networking

(LinkedIn)

Mentors Friends

How to build your network, helpful tips

Page 23: Managing Your Career: The art of selling yourself

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

Page 24: Managing Your Career: The art of selling yourself

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

Page 25: Managing Your Career: The art of selling yourself

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.”

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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.

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

Page 26: Managing Your Career: The art of selling yourself

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.

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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.

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

Do’s Don’ts

Page 27: Managing Your Career: The art of selling yourself

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

Page 28: Managing Your Career: The art of selling yourself

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

Page 29: Managing Your Career: The art of selling yourself

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

Page 30: Managing Your Career: The art of selling yourself

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

Page 31: Managing Your Career: The art of selling yourself

Selected References

Page 32: Managing Your Career: The art of selling yourself