Increase Your Individual Career Stock
Holly Scott
Senior Partner at The Mullings Group | Global Medical Device & Life Sciences | Executive Search-Building Companies and Careers
We have built MedTech companies for three decades, often from angel or seed stage to exit at acquisition. Stock is often a component of compensation, and the value of equity payoff is often driven by milestones.?Stock or stock options offer individuals a variable and adds an elevated level of excitement in the exploration and transition process to a new opportunity.
As I counsel individuals considering startups with equity opportunities, we evaluate what this equity component could become. We think about the unmet need in the market, the executive team’s track record, the required milestones ahead, and the funding runway. This wrapped into a reimbursable story can form the basic building blocks of a young company’s chance for success.?
For those early in career, there are similarities between driving a startup company's equity value, and an individual's career marketability.
The success of the “company”, and for our story, the success of the individual’s career, is based on a few similar characteristics.?
The unmet need in the market. What unique value proposition do you bring to the workforce? Is your skill set in demand, and is it applicable in a market that is expected to grow?
The executive team’s track record. Who will you surround yourself with, be mentored by, and ultimately become? Leadership of a company is a primary driver for success. Learning from winners will increase demand for you to add value to future teams.
Funding. Finances drive decisions. What is your individual “burn rate", and what income is needed to meet your basic needs? What lifestyle you want? What is that financial gap you need to fulfill to get where you want to go?
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In parallel, what value are you bringing to a company, relative to the payoff you offer in the company’s success?
Reframing your career as an individual business is a tool that can empower you as you drive your career. Similar to stock, building on the value you bring to the market, evaluating your goals and planning each step prudently all add to your opportunity for success. These reflections are fundamental building blocks that increase your market demand over time.
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Global Marketing Executive | Medical Device | Delivering Multimillion-Dollar Revenue Growth
1 年Very savvy advice Holly.
IT Manager / CyberSecurity / Software Dev / IT Engineering Manager: Science, Engineering and Manufacturing
1 年Your works Holly, are a continuum masterclass, I see them all as standing the test-of-time. Before my computer business, I had three other businesses; all successes; however, opportunity and environment played major parts. Each one of them were hinged on timing: they were only good for the duration of the business model and the environment. Each one had a life lesson to learn, the last being; emotional intelligence, especially when you include observational skills. The reason that I mention opportunity and environment is because a trained mind builds on funds and assets, not to mention building trust with your customers. There are times when your customers 'know a thing or two', which is how I generated the idea of America. Taking all of my business skills and experience to work for a company in America, broadened my entire horizon of everything that I had learned. Not to mention opening my eyes. This is why; one person in a job/career can be very good in the role, while another person can make an award winning contribution that sets the company in a new direction. This requires the right environment and company :} Sometimes having a career, is just what your business ideas need :}
Vice President - Global Med Device Leader Building Companies and Careers at TMG
1 年"Reframing your career as an individual business is a tool that can empower you as you drive your career." Nailed it Holly Scott.
Vice President, Medigy | President, TSSP | Co-host& Co-producer, SleepTech Talk | Wellness Enthusiast | Speaker | Investor
1 年Great post!