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Web posted
Monday, January 6, 2003
Interns and new graduates should develop a career plan
By Jason Giaimo
For the Journal
Here's a tip for interns and new graduates entering the marketplace: Don't spill hot coffee in the chief financial officer's lap. OK, so some things just don't need to be said -- but others are not quite as obvious.
I think by now I have read just about every "career guide" type book on the market, and I know that I have made many, many mistakes over the years. I thought it might be helpful and fun to pass along a few insights to new graduates and job seekers. Here are some excerpts from a presentation that I made to the UAA Accounting Club entitled, "The Plan and the Game."
Step one: The plan
Decide what you want, and how much you will give up to get it.
This is without question the most important and most difficult of all the points listed here. Do you want to be the chief financial officer of General Motors, or would you be happy with being a staff employee in a local firm?
Do you want to make $250,000 a year or $60,000 a year? It's a much more complex question than it seems. If you are married, be sure to incorporate your spouse's goals and "sacrifice tolerance" into your plan as well.
Statistically speaking, a stable, happy marriage is a key factor in your business success, and besides, you can't focus on your career when your spouse has thrown your clothes out on the lawn. Since you have read this far, and since you read the Journal of Commerce, I will assume you are interested in pursuing the executive track.
Find out what it takes.
Objectively analyze characteristics of others who are where you want to be. If you want to be a top executive, do your own study of what top executives in your chosen field have in common. This information is often located in the "management team" or "investor information" link on a company's Web site, including education, certifications and of course, salary.
Get a plan.
Where will you go without a plan? Not very far. Think out a three-, five-, and 10-year strategy to get to where you want to go. Your exact path depends on your own particular goals and situation, so think it through, write it down and be selective with whom you share it.
Don't be surprised if not everyone you share your plan with is supportive. If people start saying that your plans are crazy and you can't possibly achieve them, you're probably on the right track.
Step Two: The game
Get a mentor.
Get at least one mentor who is already in the game, and seek as much advice from them as possible. Two or three mentors are better.
How do you get a mentor? If you are in a finance-oriented profession, one of the best ways is to join a professional association like the Institute of Management Accountants.
Dress the part.
Think about how much you have spent on your education. Now think about how much you have spent on your business wardrobe. Forget what the human resources department says about their "open dress code policy." In most cases, dressing like your boss is the best bet.
Deliver more than planned.
This takes some discipline, but is very effective. When you think you can finish the report by Friday, always tell the boss you can finish by Monday. This way you will deliver more than expected, and if your report crashes, you have the weekend to fix it. Try to add some buffer time to all self-imposed deadlines, then beat them.
Ditch the soggy sandwich and "Do Lunch."
Lunch is not just for eating, so don't huddle in solitude at your desk each day with your soggy sandwich. Schedule at least two lunches with colleagues per week. This networking is essential to your personal success, and it makes for a more enjoyable work environment besides. Every lunch that you eat at your desk is a lost opportunity.
Keep up with industry publications and news.
Learn the buzz-words of people in the know, it will keep both your vocabulary and mindset in sync with top management.
Get all recommendations in writing.
Phone numbers quickly become out of date, and old bosses who loved your work can be hard to locate for references when they take that new job in Taipei.
Close the open book and observe details everywhere.
Be keenly observant of body language, especially your own. Are you telegraphing information that you do not want shared? Trust me, you are. Train your eye to notice minute details of human behavior. With a keen eye you can almost read minds.
"Yourself Inc."
Think of yourself as your own company, and don't be totally dependent on your employer, financially or emotionally.
Be nice to the cook.
Treat all people you meet with dignity and respect, primarily because it is the right thing to do. Need another reason? I was once introduced to the vice president of global operations of a Fortune 500 company by the short-order cook at a corner diner. You just never know.
Oh yes, one more thing: Don't spill coffee on the chief financial officer. Good luck.
Jason S. Giaimo is president of Net Gain Business Consultants. He can be reached via e-mail at NetGainBC@aol.com.
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