Here's part two of my interview with David Lorenzo (click here to read part 1), the author of Career Intensity, a book I liked a lot that gives great advice on how to manage your single-biggest asset (your career). Here goes:
Free Money Finance (FMF): Do you blog? Why or why not?
David Lorenzo (DL): I have a blog on the website for the book.
This is the best way I have found to share ideas and insights on career development and entrepreneurship. On the Career Intensity Blog I post my own ideas and the ideas of others.
I want the blog to become a community of people who are committed to continuous career improvement. It’s also a motivational tool. I become motivated when I write about successful people and tell their stories. Hopefully the people who read those stories find them motivating as well.
FMF: I often write that a person’s career is his/her most valuable asset and he/she should manage it accordingly. What are your thoughts on this topic?
DL: I think this is absolutely true. In the book I call it The Individual Economy. This means that we all build up equity in our careers. This equity is much like the equity in your home with one exception – it is portable. If you think about things from this perspective, who has all the control? The Individual.
When viewed in this light, an individual’s career is clearly his/her most valuable asset.
All of us have the talent to create far more value then we perceive. We have been conditioned to think we are less valuable than is actually the case. Here’s an example:
Think about the typical performance appraisal process in a big company. It focuses on beating the crap out of the person being reviewed. Take a typical salesperson in a typical organization. Joe Salesman sits down with his boss for his review. There is some talk of what this poor guy is doing right, but in the end, all he remembers is how he forgets to submit his reports on time. Sure he brought in the biggest deal in his division last year, but his reports are always late. In a thirty-minute performance review five minutes are spent talking about the success and the value Joe added to the company and twenty-five minutes are spent focusing on how his reports are never in by 3PM on Friday.
That guy needs to get out of the company that is focused on the reports and get into a company where sales are valued. If he can’t find a company like that, he needs to start one. In this scenario Joe Salesman has the power to create value. That power is portable. He can do it for hundreds of other firms – or even for a firm he owns, if he’s comfortable with some risk.
Is your career a valuable asset? You bet it is.
FMF: Do you find that most people just let their careers “happen” to them and take no proactive steps towards managing them? What’s your advice/warning to these people?
DL: I think we discussed this when you asked me about why people should buy this book. Most people do let their careers happen to them. The key is that, in most cases, this is not a conscious choice. In most cases, people don’t understand that the talent, skills and knowledge they possess are transferable.
I have to point out that whenever I make this statement in front of a group of people someone says; “Dave, who is going to hire me into a new industry with no experience?”. That is a fair point.
If the jump is dramatic, you need to present yourself by highlighting the qualities that you have that will add value to the new firm. The key to making this kind of transition successful is to understand what you don’t know. In other words, you need to know what is transferable and what skills (or knowledge) you need to acquire in order to be successful in your new role.
If you think about your career in this light, then you realize that you have far more options than you ever imagined. Each one of us has the ability to add value to many different types of businesses in many industries. This thought process opens new doors for almost everyone. When you think this way you are no longer confined to your industry or you particular role. This allows you to plan a career that will have a significant number of options. Where there are options, there is also control. You control your future.
FMF: Personally, I love your thoughts on managing yourself as a brand. Can you give Free Money Finance readers a short overview of what this means and how it impacts what they should do in managing their careers?
DL: A brand is the perception of a product or service in the mind of the consumer. Each of us has our own personal brand. Each of our target audiences has a perception of us. Sometimes this perception is exactly what we want it to be and it serves us well; other times, this perception is dramatically different from how we wish to be seen and works to our detriment.
Each of us needs to manage our careers as a brand. We need to consider the perception of our target audience before we present ourselves to them. Our goal is to make certain that our target audience sees us exactly the way we want them to. This is not easy to do. There are big, impressive ways to do this but there are also small ways to improve the perception of your personal brand.
Everyday at work we are on stage. We are constantly being judged – by our customers, by the boss, by our coworkers. It’s best to view everyone as a customer and realize that each interaction either adds to their perception of our personal brand or detracts from it. There are no neutral interactions.
Once you view your time at work in this light, you immediately begin to understand the value of some of the seemingly “little” decisions.
For example: If you’re running late and you look in the mirror and think, “I don’t need to shave today, I’m not going to see any customers” or “I don’t need to press my blouse because my boss is out of the office” you have immediately made a choice that will harm your personal brand. Sure, it’s a seemingly small decision. But when your boss’ boss or the woman who could be your future boss sees you unshaven or wrinkled as you ride the elevator, you have immediately weakened your brand in their eyes.
The key thing to remember is that this process is not about you. It is about the people who work with you and who should be perceived as your customers. They have to perceive you as someone who adds value. This perception is formed in big moments – like a year-end financial presentation. It is also formed in a million little moments - in the elevator. In the break room. At lunch. And of course, at the office party.
Take your career seriously. Invest in your personal brand and then protect your investment.
FMF: I also especially like the section on generating a buzz about yourself. Can you elaborate on what this means, why it’s important, and how it can be done by anyone?
DL: Although it has gained some prominence lately, word of mouth is still an underrated marketing tool. When it comes to personal marketing, word of mouth – buzz – is the best way to get people to know you and ultimately hire you.
Think about it. How did you find your dentist, your accountant, your lawyer, your hairdresser, your real estate agent or the person who sold you your car? Chances are someone recommended at least one of those people to you. Referrals are great. They make the world of small business go ‘round. The same thing should (and can) happen with your career.
The first step is to get people to talk about you. This means you have to be different. When you do your own personal situation analysis you should look at everybody else who is in your role. Ask yourself how you can provide value in a DIFFERENT way. I’m not talking dye-your-hair-blue different. I’m talking about things like volunteering for the crappy job that nobody wants and turning it into a fun event that is the talk of the office.
Next you have to be memorable. You have to get people to remember the value they received from you. People remember mental pictures. They don’t remember words. Tell stories. Draw people a mental picture. Relate mundane things to interesting vivid images that stand out in the minds of others. When you decide how you are going to differentiate yourself from the rest of the pack, you need to make sure that you do it in a way that people will remember and discuss in a positive way.
Finally, look for people who have a natural ability to talk to others. If you work in a big company, for example, you need to find the person who spreads the office gossip. Those people are the ones you want saying good things about you. Befriend this person. Feed him (true) positive information about you. Do it in a way that enhances his standing as the office news reporter. People talk about things for a number of different reasons. Find out what makes your office “underground” buzz and then find a way to use that to spread true, positive stories.
There’s another channel that you can “buzz” to advance your career. I’m talking about the industry expert or trade channel. Find out who the influential people in your industry are. Study them. What do they talk about? Why do they talk about those things? Find a way to get some of your work in front of them. Let them see how important and DIFFERENT you are. Tell them your fascinating stories and watch how the word spreads throughout the industry.
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Great, great, great advice! I have applied much of what David talks about in my career (and continue to do so) and he's right, it works. That's why I love this book so much.
We're going to be talking a lot about careers and Career Intensity this month. I'll be posting on the topic, I have a few more offerings from David, and, of course, I'm giving away a copy of Career Intensity every day in April. Be sure to check this site daily and enter for your chance to win.
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