Business Plans are usually created for business start-ups and expansions. Taking this methodical approach to your job search can help ensure success. A good business plan includes these elements:
Executive Summary, Company Overview, Business Offering, Market Analysis, Customer Analysis, Strategy and Implementation Plan, Management Team, Financial Projections. Let's look at how each applies to your job search effort:
Executive Summary: This will be your "Elevator Pitch" - the value proposition of what you offer your next employer. It is often a summary of skills at the top of a resume, but you should also custom tailor this to the particular job you are after, and use it as the opening of cover letters. It is also the core of what you say in networking calls.
Company Overview: How you got to where you are today. Your chronological resume. Each job entry should have a brief description of your main responsibilities, and the scope of operations of company (operations, size, revenue, products, markets). This enables readers to understand what you did in context.
Business Offering: In addition to the brief narrative about your title and what the company did, each entry on your resume must focus on bulleted accomplishments. Telling prospective employers how you have already succeeded is the best predictor of future success. In networking meetings, interviews etc., your business offering is your key strengths in relation to the job.
Market Analysis: How do you compare to other "products" in the market. Compared to other people who might go after the same job, what are your differentiators? How are you unique, special, different or better? The answer to this question must be contained in all your communications.
Customer Analysis: Who are the employers that might be able to use your skills? Thorough research at the front end will give you a great target list. In addition to identifying the companies, find the executive that you would report to there, so your initial contact can be precise.
Strategy and Implementation Plan: If you are unemployed, your job is getting a new job, 40 hours (or more) per week. That time should be broken up approximately as follows:
- Interviews (either actual job interviews or "informational" meetings), including transportation: 6-8 hours (2 half-days)
- Phone calls direct to prospective employers and/or networking targets: 10 hours
- Research for companies to call next week: 8 hours
- Research on individuals and companies that you will be meeting with or that have expressed an interest in you: 4 hours
- E-mail and phone call follow ups on meetings and phone calls: 5 hours
- Searching for open positions and responding on line: 5 hours
If you are employed and trying to look for something new, you should try to spend 10 hours a week, divided up proportionally to the above tasks.
Management Team: The management team for your personal job search is your network. Use the Art of Networking and enlist the people you know in finding leads and connecting with people who can use your skills.
Financial Projections: The financial projections for your job search are "how soon will I have my new job, and what will the compensation be?" By networking diligently to get in doors, gaining meaningful interviews, and working this as the "numbers game" it is, you can dramatically shorten the time it takes, increase the quality and quantity of offers, which will position you for better compensation.
Too often a "job search" is a reactive process, and not a search at all. Too many people sit back and wait for opportunities to reach them, instead of proactively going after what they want. If you were trying to launch a new product and optimize sales for your company, think of the steps you would take to do that, and work just as hard to get the best results for yourself.
