THOUGHT PROVOKING THURSDAYS- 26 DEALING WITH CAREER TRANSITIONS- First principles thinking

As I look back on my 35 years of working life, I find no real pattern. The only commonality is serendipity and not saying no to new opportunities. Was this the smartest thing to do? I cannot say. Should I have been more strategic in how I shifted functions? Perhaps.

I brought this up over a recent lunch with Rey, my good friend from Facebook days—His career graph has been stellar. After years at Unilever running global businesses he transitioned to Facebook and then to Gojek and BIMA before his current role as Chief Operating Officer at The Chope Group. What makes for successful transitions was my question to him. That opened up a series of reflections and here are some thoughts that I wanted to share with all of you.

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The right sequence, according to Rey is WHY ? WHERE ? HOW… how to transition coming last and not first. The most important question WHY. It is imperative to have utmost clarity on why do you want to transition in the first place, and if doing so is really the best decision in your case, especially if you are contemplating this decision after a decade or more in a single company or a specific industry. Often, people cite the following reasons:

1.????Desire to move to a faster growing industry, especially a feeling that one should move into “tech” or “tech startups”.

2.????Desire to move to an industry / geography / company with bigger or better opportunities.

3.????Desire to move to a bigger and more exciting role.

4.????Feeling stuck and not growing in the current role or company.

5.????Anticipating a downturn or downsizing situation in the current company.

And perhaps some derivatives of the above.

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Instead, according to Rey, the most important question to ask oneself is:

Where can I create and capture the most value?

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-???????If my current situation is stable and I am doing well in my career, then will I really be better off making a change? Or would I be better off compounding my knowhow and expertise at my current firm or within the same industry?

-???????If the answer to the above is negative, then in which company or industry will my skills be most valued, and where will I find a role that is fulfilling, growing and rewarding?

-???????Thinking a few steps ahead, look carefully at the options you are considering. Do you have the skills and experience to make it to the very top of the industry or company? Are there people with a similar profile to you at the centre of the action in C-level roles, or will you be more likely to end up in a peripheral role? This is the difference between an opportunity that can lead to a successful career, versus one that is just a well-paying job without much of a future.

-???????An exception to the above can be for people whose goal is functional leadership, but even there it’s important to pay attention to the difference in profiles of people who lead the same functions in different industries. The profile, skills and experience of someone who works in a “marketing” role at an FMCG firm is very different from someone doing a role with the same title at a “tech” firm, because the job content is significantly different and diminished in comparison. Many marketeers have risen to become FMCG CEOs. Virtually none are CEOs in Tech.

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So, the next two questions to ask are:

1.????Will this move keep me at the centre of things or will I be at the periphery?

2.????Will this move enable me to have a crack at the biggest jobs in that company or industry?

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So understand the why before you even think of moving anywhere. You might actually be better off staying in your current industry.

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Assuming you have a legitimate reason to want to move, the next question is WHERE—Again, many people get seduced by the cool factor and apparent futurism of the Tech sector and see that as the next destination. I know so many who left great roles in successful companies and industries to acquire the “ tech” tag in their resumes. Here again Rey advises caution.

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In his own words:

There is a difference between deep tech companies and tech-enabled services. The former are usually founded, and led, by people with education and expertise in computer science, software engineering and other technological fields, while the latter can also be successfully founded and led by people without that expertise. You will very rarely see a deep tech firm being led by someone without deep tech expertise. And I don’t mean the kind of expertise you can gain from short online courses. Yes, there are well-paid roles for non tech people at these firms, but you will eventually hit a ceiling in terms of growth, and you will rarely enjoy a fulfilling role that fully develops your strategic, business and leadership skills.

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So be very thoughtful in making your choices. If everyone else wants to go in the same sexy direction, consider if there is a bigger opportunity for you by going in the opposite unsexy but profitable direction.

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So once you have made a call around WHERE, the operational question is HOW

Here are some ideas that Rey shared in this space

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1.????Look for opportunities that combine skills you already have with new skills that you can learn and develop.

2.????Seek out connections who can mentor you about the differences in mental models and decision frameworks in your new context, and guide you to make the right first steps when you do make the move.

3.????Go slow at first. Several small wins with small resources (and with some chance of a big win) is a better strategy for a new entrant than seeking big wins with big resources (with big risks of failure).

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What began as a rather simple question became more deep and strategic as the conversation went along—and that is something?I have come to associate with Rey—his deep strategic thinking coupled with a laser focus on business results. I am sure he will bring this combination to shine in his new role as well. All the best Rey!

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