Steps for establishing a business include:
- Identifying opportunities and market needs.
- Developing products to satisfy market needs.
- Targeting market segments and customers.
- Branding your product.
- Establishing business advisors (e.g. board of directors).
This edition of From the Field addresses steps 1-3. Steps 4-5 will be addressed in future editions.
Let's apply steps 1-3 to Career Management.
Business: Identify opportunities and market needs
Career: Determine your career focus (college major, specialty, occupation, etc.)
Business: Develop products to satisfy market needs
Career: Earn degrees, certifications; receive training
Business: Target market segments and customers
Career: Determine industries or companies you want to hire you and where you
want to work (location preferences)
These career management steps are the decisions that you make when you launch your career. However, you may repeat these steps as a result of self-discovery and personal growth and development. You may also repeat these steps if you are impacted by corporate restructuring, downsizing or reorganizations. Whether you receive professional assistance or seek your next career move on your own, your initial activities will include steps 1-3 to revisit your career focus and to determine industries, companies and locations that are the best match for you. Just like a business, individuals cannot be successful without a developed product (qualifications and skills) and targeted customers (potential employers who need the individual's qualifications and skills). The product must also be available to the customer (the location that is suitable to the individual).
Revisiting steps 1-3 can be quite an awakening. Individuals may discover that they have been Clark Kent disguised as Superman. I witnessed a Clark Kent to Superman conversion when I worked for a company several years ago. Steve, a co-worker, experienced difficulty performing effectively in the business unit in the company in which we were employed. His ideas were out of touch with management and his approach to performing his job was out of sync with his peers. Because he was tall and had a distinctive gait, we (his peers) nicknamed him goose. (It was a private joke among his peers. We never addressed him as goose.) Goose became frustrated with his performance and sought and received a transfer to another business unit in the company.
His professional stock rose in his new assignment. His outstanding performance resulted in his rise to the top financial officer in the business unit and eventually to the vice president/general manager responsible for the total business. When the company sold the business unit, the acquiring company integrated the business unit into its existing business. The acquiring company appointed Steve to be the CEO of the larger business group!
As I look back, I think of my peers and me as Lois Lane and Jimmy Olsen from the Adventures of Superman television series. We were seeing Steve as Clark Kent, not knowing that he was indeed Superman. All Steve needed was an environment where his product (qualifications and skills) were targeted to the right market or customer segment (the other business unit).
There are several assessment tools that can help you revisit your product and target market. Consulting with an HR professional who is knowledgeable of these tools could be well worth your time and effort. You may be a Superman in an environment that disguises you as Clark Kent.
Happy New Year!
Linwood Bailey
Principal
Fields of Success