How to Strategize for Key Moments in Your Professional Life
Have you ever woken up from a recurring nightmare in which you had to take an exam for which you hadn't studied? No one likes the feeling of not being prepared. And this worry takes over many parts of our professional lives. No one wants to be caught off guard in front of an MBA admissions committee, a current client or boss, or even a networking event. The answer is to be confident in all of these conversations and presentations. How? Preparedness. In this blog post, we'll talk about what the Kellogg faculty says you should do to get ready for a variety of common career scenarios.
Preparing for a Presentation
Because of the nature of presentations, they are what they are, you need to make sure you are prepared for them. Tim Calkins, a clinical professor of marketing and former executive at Kraft Foods, says that doesn't mean you should focus on how you say things or how you move around the room. It means you must have hone your main point, get the facts to back it up, and give your MBA classmates or stakeholders time to weigh in.
It's important to choose the story you want to tell first. Everything should flow from the point you're trying to make or the advice you're trying to give. Once you know that, use data to back up the key points that lead to that conclusion, making sure that each point flows logically into the next and leads to the final recommendation or conclusion.
2. Preparing for a Network Event
You should also plan your story ahead of time if you plan to go to a formal MBA or work networking event or a less formal graduate social gathering. People will always ask you, "What do you do?" Craig Wortmann, a clinical professor of innovation and entrepreneurship, says that you should think of your story as a movie trailer. "I run a firm called XYZ. We help companies in developing and fine-tuning their XYZ department." In two sentences, you say the name of the company, what your job is, and what the company's goal is. Make a few different versions of your story, depending on who you want to tell it to. At the very least, you should have one version that is more technical for someone in your field and one that is more general for social situations.
3. Preparing for Negotiations
When you advocate for yourself, you ask for a raise, a higher salary, or a chance to be admitted into a top MBA program. You need to be ready for this. A professor of management and organizations, Victoria Medvec, says that this is especially true for women. Women often have to fight against their inner critic, who tells them they aren't ready for something or don't deserve it. When you get ready ahead of time, you have the confidence you need to keep that critic away.
As part of getting ready for negotiations, you should be able to explain why you are the best person to help contribute to your potential MBA cohort, or a potential boss with unique business experience. Putting together a good case for the value you can bring can pay off in other ways. If you don't get accepted or promoted right away, an alumni or your manager may decide to mentor you or remember you for a future opportunity.
Because preparation is so important in negotiations, Medvec says you can always ask for more time if a conversation catches you off guard. For example, if your boss approaches you in the hallway to talk about a new job in the company that you've never thought about before, ask for more time to think about it and get your mind back on track before starting the negotiation.
4. Preparing for a Conversation with the CEO
Impromptu hallway conversations with top executives have their place, and if you take advantage of them, you may be able to throw a favorable light on yourself and your team. Rob Apatoff, clinical professor and executive director of the Kellogg Executive Leadership Institute, says that time with a CEO is always valuable, and you should be ready to make the most of a conversation that comes up out of the blue.
How do you get ready for a meeting that you didn't expect? Apatoff says to make a mental list of bullet points that are easy to remember. These should include a summary of your department, key statistics to back up that summary, and an explanation of how your department fits into the bigger picture of the company. It's also important to have a few of your own unique ideas ready to show that you can be counted on for generating potential income. When you're done making your list of bullet points, practice saying them over and over again so you can say them easily and with confidence when the time comes.
5. Preparing for a “Second Act” after Climbing the CORPORATE Ladder
Many people have a clear idea of what they want to do for a living, and with the right planning, they may be able to make that dream come true. But a person's professional goals may change if his or her interests and personal life change. Maybe they want a more flexible schedule, maybe they want an industry change by doing an MBA, or maybe their kids are grown and they don't have to worry about saving for college anymore, so they decide to leave a different kind of legacy.
Ellen Taaffe, clinical assistant professor of leadership and director of women's leadership programs, says that more and more executives realize they still have a lot of time—maybe ten or twenty more working years—and decide to write the next chapter. “They want to have a bigger impact, and they want to be aligned with something they’re passionate about and find meaningful.” Taaffe went through a change when her job was eliminated as a brand marketer at a large company after 25 years.
Taffe didn't rush to find another job just like the one she had just lost. Instead, she took some time to think about and plan for her second act. She thought about what she liked best about her past jobs, what was most important to her at this point in her life, and where she thought she could bring the most value. This type of preparation via self-reflection is essential. Taaffe explains. “It’s about recognizing your skills, strengths, values, and passions, and finding a match for them in this phase of your life. The clearer you are about being ready for this move, the more successful you’ll be.”