architecting your career path switchers

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Prepared by Gayle Grader Director, Executive Career Development ARCHITECTING YOUR CAREER PATH SWITCHERS September 26, 2019

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Page 1: ARCHITECTING YOUR CAREER PATH SWITCHERS

Prepared by Gayle GraderDirector, Executive Career Development

ARCHITECTING YOUR CAREER

PATH –

SWITCHERS

September 26, 2019

Page 2: ARCHITECTING YOUR CAREER PATH SWITCHERS

TRANSLATING VISION TO ACTION

The FoundationVISION

Your Ideal

Career Future

Needs and

Preferences

What are you passionate

about doing and

contributing?

How do you want to

leverage your unique value

for the future?

What would you most

like to attain in

your career?

What is the impact

you want to have?

Page 3: ARCHITECTING YOUR CAREER PATH SWITCHERS

LEVERS OF CAREER CHANGE

Company Industry Function Geography

o

Page 4: ARCHITECTING YOUR CAREER PATH SWITCHERS

DEGREE OF CAREER CHANGE

C x F x IOpportunity Cost

(income, prestige, etc.)

oX G=

Page 5: ARCHITECTING YOUR CAREER PATH SWITCHERS

ADVANCE OR SWITCH

New Company

Same Function

New Industry

Same Company

New Function

Same Industry

New Company

New Function

Same Industry

New Company

New Function

New Industry

SwitchAdvance

Promotion,

Same Function

Same Company

Same Industry

New Company

Same Function

Same Industry

Least Difficult Most Difficult

Page 6: ARCHITECTING YOUR CAREER PATH SWITCHERS

READY, SET, GO?

Page 7: ARCHITECTING YOUR CAREER PATH SWITCHERS

THE 4 Rs OF A SWITCH

Responsibility Reality

Risk Resilience

Take personal responsibility for what

happens, creating accountability and

an internal locus of control.

A switch can be anxiety provoking

and ambiguous. Overcome this to

stay the course. No risk, no reward.

Work with what does happen not with

what should happen.

Understand the psychology behind a

switch as it essentially involves a series

of human interactions. Needed to

maintain your motivation to persevere.

Source: Dawn Graham, Switchers, pages xviii-xix

Page 8: ARCHITECTING YOUR CAREER PATH SWITCHERS

NEED ALL FOUR Rs FOR SUCCESS

Responsibility

Reality

Risk

Resilience

No Action No Direction No Results No PerseveranceCareer Switch

Success!!!

Responsibility

Reality

Risk

Resilience

Responsibility

Reality

Risk

Resilience

Responsibility

Reality

Risk

Resilience

Responsibility

Reality

Risk

Resilience

Source: Dawn Graham, Switchers, page XX

The Four Rs and Career Switch Success

Page 9: ARCHITECTING YOUR CAREER PATH SWITCHERS

READINESS FOR A SWITCH

Are you willing:

1) …to lose money or accept a pay decrease?

2) …to relocate?

3) …to take a lower position?

4) …to take longer to find your next role?

5) …to make pursuing your goal a significant priority over other goals?

6) …to proactively build a new network of contacts?

7) …to accept dead ends or rebuffs without becoming frustrated?

8) …to give up time with friends, family, and hobbies?

9) …to give up control over your schedule or tasks in your new job?

Source: Dawn Graham, Switchers, pages xviii-xix

Rank these from 0 to 5;

0 = not willing

5 = totally willing

Page 10: ARCHITECTING YOUR CAREER PATH SWITCHERS

WHAT’S YOUR STRATEGY?

10

Page 11: ARCHITECTING YOUR CAREER PATH SWITCHERS

START WITH A PROBLEM STATEMENT

• What problem(s) can you solve for companies?

• What problem(s) do you want to solve for companies?

Page 12: ARCHITECTING YOUR CAREER PATH SWITCHERS

DETERMINE FUNCTIONAL FOCUS

• What functional area(s) does

your problem solving align with

most?

• What transferable skills,

knowledge, and experience

do you have to build on?

• What title/level makes sense

given your career history?

Typical

Business

Functions*

Sales Marketing

Customer

Success

Product

Manage-

ment

Finance &

Accounting

Information

Technology

Business

Develop-

ment

Human

Resources

R & D

Operations

& AdminLogistics/

Supply

Chain

Mgt.*Others: Art & Design, Data & Analytics, Program Management, etc.

Page 13: ARCHITECTING YOUR CAREER PATH SWITCHERS

SELECT INDUSTRIES

• What industries have the kind of

problems you want to/can solve?

• What industries are you most

interested in?

• What can you build on from your

career experience to establish

credibility in your target industries?

13

Page 14: ARCHITECTING YOUR CAREER PATH SWITCHERS

CASE STUDY: ALPHA KIFLU SFMBA 19

Experience in US Financial Services

& Emerging Markets Commerce

US Financial Services Africa Consumer & Retail

• VP at Goldman Sachs in portfolio

management, advisory, & risk

• Finance retail, property,

logistics, and trucking

companies

• Managed $5b lending portfolio,

distressed to investment grade

businesses

• CFO of wholesaler, leading growth

from startup to $30mm revenues

• Strategy advisor to distribution

and consumer goods businesses

• Co-funded startup consumer

business, leading supply chain

and commercial strategy

Page 15: ARCHITECTING YOUR CAREER PATH SWITCHERS

TRANSLATED VISION INTO KEY LEVERS

• Strategic management of growth businesses in ambiguous

environments (i.e. emerging markets, innovative technologies)

• Unique combination of interpersonal leadership and financial management

What problems do I solve for companies?

Career Objectives

• Short-term: Mid-level management role in Finance or Strategy in a

high-growth industry

• Long-term: Investing or commercial/sales role (i.e. Africa / EM,

entrepreneurial businesses, etc.)

o

Page 16: ARCHITECTING YOUR CAREER PATH SWITCHERS

FOCUSED HIS INDUSTRY STRATEGY

FintechRetail &

E-Commerce

Emerging Markets

Investing

US Credit &

Finance

Current Opportunity Low High Low Medium

Growth Potential High Medium Medium Low

Work Experience Low Medium Medium High

Personal Interest Medium Medium High Low

Page 17: ARCHITECTING YOUR CAREER PATH SWITCHERS

DEVELOPED STRATEGIC POV Step 1:

Insights from consumer businesses in Africa

Step 2:

US e-commerce faces similar challenges

MARKET SIZE

DISTRIBUTION

INVESTMENT

FINANCE

High growth consumer markets are attractive, but lack market size

Better to delay entry, given high cash flow burn of early entry

Distributors capture outsized value in supply-constrained markets

Producers lack bargaining power vs. retailers and are price-takers

Joint ventures in dynamic markets require high operational involvement

Active management is required to be successful and execute business plans

Credit access drives retail business more than consumer income growth

Credit and foreign currency access are limited in Africa and constraining the

consumer market boom

MARKET SIZE

DISTRIBUTION

INVESTMENT

FINANCE

Consumer adoption of e-commerce categories is uneven and opaque

US grocery penetration remains very low compared to other categories

Distributors own customer relationships in “supply-saturated” markets

When consumers have wide variety, distribution channels become the key

decision criteria

Investments in logistics real estate will outpace retail property

As online retailers expand physical presence, fulfillment operations require

new solutions

E-tailers will increase partnerships and financial service providers

Recurring purchases and point of sale access offer

channel opportunities for banks

Page 18: ARCHITECTING YOUR CAREER PATH SWITCHERS

PARTNER AND DISCUSS YOUR I & F GOALS

Page 19: ARCHITECTING YOUR CAREER PATH SWITCHERS

ESTABLISH CO’s PREFERENCES & MAP

• What company stage do you prefer?• Early stage start-up

• Later stage start-up

• High growth

• Mature

• What kind of culture/mission?

• What in your past company experience

aligns/creates more interest and

credibility?

Page 20: ARCHITECTING YOUR CAREER PATH SWITCHERS

DEEPAK ARORA SFMBA 20 – I, F & C MAPOptions Industry Functional Role Subindustry Companies

Option 1 TechnologyDirector/ VP

Strategy/Head of

Operations

• Analytics (Shipping)

• Machine learning/AI

• E-Commerce

• Analytics (Supply

Chain/Ops)

• DNVGL, Wilhelmsen, V Group, Maersk, Ardmore

• Hawkeye, Windward, Konsberg, Rolls Royce, Sea-

Machines, Llamasoft

• Flexport, Shone, Portchain, Logistmo

• Maersk, Amazon, Microsoft, Google, IBM Watson

Option 2Supply Chain

ManagementDirector/COO/ VP/P

Strategy/BD

• 3PL-NVOCC

• Shipping

• E-Commerce

• Flexport, Wilhemsen, GAC, CH Robinson, Freightos

• Maersk, CMACGM, MSC

• Amazon, Wayfair, Walmart

Option 3 ConsultingSr. Consultant/ Marine &

Supply Chain Strategist

• Maritime

• Operations/Strategy

• Supply Chain

• BCG, Deloitte, KPMG

• BCG, Deloitte, KPMG, McKinsey

• BCG, Deloitte, KPMG, McKinsey

Option 4 Oil & GasDir/VP Marine/Marine

Controller/Marine Advisor

• Marine Advisor

• Terminal Operations

• BP, Shell, Phillips, ExxonMobile, Chevron, Reliance

• Shell, Chemco, BP, Reliance

Option 5Maritime

BusinessMD/COO/Director

Strategy/BD

• Ship Management

• Ship Finance

• Maritime Analyst

• Wilhelmsen, Synergy, Maersk, TK, Ardmore

• Oaktree, DVB, Cargill, Jeffries, Tufton, JPMorgan

• Lloyds, Clarksons, DNVGL, ABS, Flags

Option 6Policy, Trade,

InfrastructureProject Lead/Business

Strategy Consultant

• Development Banks

• Maritime Administration

• Trade & Economics

• World Bank, ADB, EIB, AIIB

• IMO, Flags

• World Economic Forums - Consultants

Page 21: ARCHITECTING YOUR CAREER PATH SWITCHERS

QUESTIONS

Page 22: ARCHITECTING YOUR CAREER PATH SWITCHERS

SUGGESTED CAREER PACING

Assess & Discover:

❖ Understand who you are and the career change you want to make

❖ Experiment by talking to people, professors, etc.; take courses; do

action or project-based learning

JULY - OCTOBER

NOVEMBER - DECEMBER

Career Strategy Development:

❖ Start fine tuning your focus – identify industry/ functional focus

❖ Develop company strategy and map companies

Branding Revamp:

❖ Revise your branding to align with your aspirational goals

Page 23: ARCHITECTING YOUR CAREER PATH SWITCHERS

UPCOMING EVENTS

Tuesday, Oct 1:

Resume Workshop, presented by Marilyn Cronin

Wednesday, Oct 9:

Tech Jobs Landscape, presented by Mark Newhall and Gayle Grader;

will be videoed for those students observing the Jewish holidays

Thursday, Nov 14:

Open Q&A with ECDT & Employer Relations & Recruiting Team

*PLEASE FILL OUT OUR SHORT SURVEY!*

Page 24: ARCHITECTING YOUR CAREER PATH SWITCHERS

THANK YOU!

Gayle [email protected]

MIT SloanCareer Development OfficeE52-331