Education and Professional Development Options: Several Courses of Action to Consider!

In my business consulting work and the workshops I produce for executives in transition, the most-asked question I hear is should I go back to school and if so, should I pursue an MBA. While I have no regrets about my MBA, especially since I had the opportunity to choose the dual concentration of Finance and Leadership, I know it may not be the ideal investment for most professionals, especially those over 50. Take into consideration your own specific financial situation and current knowledge, strengths and aptitudes, of course, but here’s what I’ve observed are, in fact, good investments for professionals over 40, and the reasons why:

MEDIA BISTRO1) Digital Media Marketing – There are so many course offerings, at every type of institution or training facility, from community colleges to major universities, to companies like Media Bistro. Here’s why:

a) Learning digital media is very attractive to almost any professionals over 40 who are worried that their counterparts in their twenties and thirties are far more nimble, facile and advanced in digital media.

b)Younger professionals who are born into the “digital river” are earning promotions much faster, while older professionals are being passed over or worse – downsized.

c) In almost any industry, in any sector, being skilled in social media and its applications to business at large, especially those undergoing structural chaos, such as media, and to marketing in particular is an important differentiating advantage.

2) successBusiness Administration refresher courses or earning a Bachelor’s in Business – Many professionals over 40 leave the corporate world (by choice or not) to start their own businesses, and think they have what it takes to do their own thing. Maybe, maybe not. Here’s why:

a) Courses in business administration, whether a certificate or Bachelor’s, could be their best defense against some of the most common mistakes and disillusions that plague even the hippest hoodie-clad start-up CEO. Launching a business seems easy; running one day to day is far from easy.

b) A well-rounded education in business administration gives the budding entrepreneur (at any age) grounding in operations (one of the most tedious aspects of the business that a lot of so-called visionaries can’t manage), accounting (try writing a business plan without that!), and the more right-brain and crucial courses of strategy, marketing, brand management and leadership.

c) If the time comes to sell, be merged/acquired or seek investors, then you had better know something about corporate finance or you won’t be able to even read a deal memo, let alone write or negotiate one that won’t leave you disappointed and feeling as if you wasted the sweat equity you built up in your business.

3) gold capCareer Management and Talent Development – This field has almost no barriers to entry, which is good for seasoned business professionals but also makes it very attractive to all sorts of nefarious imposters. Here’s what to look for and why:

a) Forgive my snobbery, but when I was considering a different career path, I consulted a Master’s-level counselor, not a so-called coach whose sole credentials were a 4-week teleseminar certificate!

b) Smart professionals who seek career coaching likewise want someone who’s well trained and exudes trust, not someone who’s following a commercial enterprise’s notion of “counseling.” Opt to put in the time, do the good work and earn a recognized Master’s degree in a discipline that has a reputable body of knowledge. Whether your Master’s is in psychology, social work, organizational development, counseling or any other mental health profession, the degree distinguishes you (to some extent) from those reading from a telemarketing pro’s psychobabble-ridden bromides.

c) In the same vein, anyone who takes advice from a business coach that can’t demonstrate his/her extensive experience and expertise in having actually run a business, or at least having earned an MBA, is gambling with their money. Again, if business coaching is your area of interest and you can afford the time and money for training, then earning an MBA can give you a leg up on business coaches that do not have an MBA.

4)  Online courses in almost every topic imaginable – arts, science, math, and so on.  My new favorite is Udemy.com, but Coursera, University of Phoenix and Southern New Hampshire University (www.snhu.edu) are just a few of the online schools to check out.

Thinking of going back to school, over 40? Just BOOK it! You might love it!

adult ed pic 9 4 2013

An article this week commented that, regardless of one’s age, September signifies the start of a new year more than January does. Ask any student between the ages of three and twenty-two!

Students much older than children are returning to school – now, more than ever. Are you one of them?

As you put away those beach books, or simply cannot put down that beach book you haven’t finished yet, Labor Day swings past, and you can’t help but pay more attention to the Education stories in the media, not to mention the endless back-to-school promotions. If you aren’t interested in school for reasons other than those concerning your children, that’s perfectly fine, of course.

If you in fact are considering returning to school, good for you! Whether you’re pursuing a degree or just taking a course (or six!) in a subject you’re passionate about or want for your career or personal development, going back to school over 40 is definitelydaring but shouldn’t be daunting!

adult ed pic two 9 4 2013Diving back into education after working for more than 30 years was truly one of the best things I ever did. I went back after a series of unsatisfying career moves, where I had landed what seemed very attractive leadership positions with organizations whose cultural norms and values were very unlike what I had experienced in my twenty years as a managing director with global marketing services firms.

Committed to learn from the MBA coursework everything I could about truly effective leadership, no matter the organization or sector, I ended up also loving the finance courses. Ultimately, I earned my MBA from NYU’s Stern School of Business, with a concentration in both Finance and Leadership.

When we were kids, returning to school as an adult was either very unconventional or something that immigrants did to study English. But that has all changed. You think, go back to school – not at my age! But, think again! You’d be in great company if you did! In fact, you’d be one of huge numbers: recent statistics from the U.S. Department of Education[1] are revealing that adult students are now the fastest growing demographic in the educational arena, with those numbers increasing steadily. Statistics compiled by the National Center for Education Statistics show a whopping 42 percent increase in college students age 25 and older from 2000-2013. And they project that between 2010 and 2019 there will be a 23 percent increase in the enrollment of college students 25 and over. [2]

A college degree looks more and more a necessity and a good investment. There is a lot of evidence that more education is becoming not a luxury, but a necessity. The stats are convincing:[3] studies are showing that 75% of future jobs will most likely need some type of certification or licensure, and those professions that demand a BS or BA will grow 50% faster than the national average.

More women aged 55 to 79 are deciding not only what they want to do in their second half, but that they want to continue learning in some formal way. A report from The American Council on Education, entitled, Framing New Terrain: Older Adults & Higher Education, shows that with older adults returning to college in record numbers, they are daring to pursue new career ideas, found new businesses, and create their lifelong dreams.

No one’s saying you have to put away the beach books forever, but consider varying your reading material. Just as the advice that we must “never wear white after Labor Day” is outdated, so is the notion that school is out of the question after a “certain” age. If I can learn to love studying corporate finance in my fifties, then almost anyone can pursue any interest at all – and at all price points, at any time of the day or night, online or in person. All you have to do is get beyond your comfort zone a little bit and just go DARE.

 

1) http://www.luminafoundation.org/publications/focus_archive/Focus_Fall_2009.pdf

2) http://nces.ed.gov/pubs2006/adulted/index.asp

3) http://www.huffingtonpost.com/visualnewscom/going-back-to-school-as-a_b_3438434.html

Job-Hunting as a Mature Professional? FLEX YOUR SPECS! There are more ways IN than you think!

northeaster us mapOver the past ten years I have been privileged to lead a rewarding series of workshops for executives in transition, who very much want to land their next full-time job.

It was such a pleasure to meet and work with talented, educated, highly skilled professionals, most of them in transition not of their own volition, and all too many of them in a serious state of shock, denial, anger.  On top of all that there’s the engulfing sense of shame and fear about their future job prospects, as well as the financial burdens.   Here are some of their challenges, how to deal with the most pressing roadblocks, and a few good books that will help.

The Challenges:

1)    Shock and Denial:  Many executives are determined to land a full-time position in a “reasonable amount of time” that is the same as or very similar to the position they left.  This time frame usually coincides with that of their severance package.  But if the reason their jobs are gone is that they were combined with or absorbed by talent that is often younger, less expensive and more flexible, this determination to “replace” the lost job and its perks often leads to even greater disappointment.

2)    Reluctance to network: This stems from lethargy or confidence challenges regarding its benefits.  The workshops prove that support from peers in a similar situation is invaluable!  Peers or mentors can become avid sponsors – I’ve seen it happen many times over the past few months with women I know who landed great jobs because they got outside of their own cocoon.  Sometimes this was due to someone much younger who was in a position of influence and wanted to help.  That’s hard for a lot of mid-career executives to accept. But it’s the reality.

3)    Shame: Many of these execs have been breadwinners, and are now suffering from shame.  Shame definitely becomes a firewall for some women and men who can’t see the value in joining professional organizations.  However, joining – and becoming active and visible in – networking groups, professional associations or a cause they care about would help them see there are other accomplished people out there who have risen past any notion of shame. They proudly announce they’re “in transition” and explain what they’re looking for as their “Big Next.”  Joining helps them to see there are myriad ways to contribute and expand their experience and expertise, and to meet mentors, sponsors and hiring managers.

4)    Inflexibility to pursue what could be valuable options outside their current experience and expertise – i.e., franchising, consulting/freelancing, starting their own business, etc.  The research that led to my book unearthed all sorts of women and men whose names (or the organizations they started) are now so well-known that few recognize their drive and subsequent success came after a huge adversity punch to their souls in mid-career.

5)    Fear: This is a big one; many attendees of my workshops report being “paralyzed with fear.”  Fear of networking, fear of failure, fear of making the wrong next move.  The reluctance and/or apathy I so often see with regard to their willingness to take advantage of tools for personal evaluation could be more about fear.  Professionals in transition sometimes fear these tests since they point out more deficits or deficiencies than they want to acknowledge.  Instead I encourage them to see the assays as an opportunity to benefit from a fresh look at their strengths and how to optimize them.

DEALING with these challenges:

For visionary, intelligent and motivated executives to combat these challenges, here are the three main areas of focus:

1)    linked in buttonMaximize LinkedIn:  there are more articles on the web regarding the benefits of using LinkedIn than I can possibly cite here, but the most critical reason to be there with a good profile to attract the work you really want to do and are good at (I rewrite mine once a year or more) is that almost every corporate hiring manager checks LinkedIn for profiles before looking anywhere else.   On top of that, if a hiring manager receives your resume and you’re not on LinkedIn, with a strong network and good skills profile that matches their needs, they often put your resume aside.

2)    Personal branding: I’ve written on this quite a bit, and there are dozens on books on it.  Pick the two or three that resonate with your strengths, motivation and where you want to land, and work the exercises.  There’s no substitute for the intrapersonal work you need to do before you can do the interpersonal connecting.  If not now, then when?

3)    Networking in generalto paraphrase Eleanor Roosevelt, one of the most inspirational women of all time, who also happened to be one of the great networkers well before the word became the 21st century catchphrase for connecting every possible interest, “You must do that thing you think you cannot do.”  Join and become very active in your industry’s professional organizations.  Comment selectively on business blogs and your industry organizations’ websites.  Participate in local philanthropic events where hiring managers in your industry also contribute.  You don’t have to have a lot of money to do this, but you do have to spend your time wisely.  Know how and when to cultivate contacts – and remember, you have to give to get.  It sure beats sitting in front of your laptop all day sending mass emails to black holes scanned by computer software that doesn’t care a bit about you and your potential.

A FEW GOOD BOOKS:

1)    Career Distinction, William Arruda and Kirsten Dixson, Wiley, 2007. This is an invaluable “how to” manual instruction manual and branding bible for building a satisfying and successful career.

2)    The Start-up of You: Adapt to the Future, Invest in Yourself, and Transform Your Career, Reid Hoffman, Crown Business, 2012.   A great book to inspire you to entrepreneurial endeavors!

3)    Linchpin: Are You Indispensible?, Seth Godin, Portfolio Trade, 2011. One of my favorite books; here is quintessential advice from a master on marketing, emotional investment in careers and work, on taking the initiative, on being a leader, an artist!

4)    How to Become a Rainmaker, Jeffrey J Fox, Hyperion, 2000. An introduction or refresher course in the power of selling.

5)    What Got You Here Won’t Get You There, Marshall Goldsmith, Hyperion, 2007.  Executive Coach Marshall explores why some people succeed in their careers, and others stall. He offers myriad pieces of advice and guidance, bad habits to break, plus gives powerful examples to drive home his points. Great book you will return to again and again.

 ~   ~   ~   ~   ~ 

© The DARE-Force Corporation, 2020. 

Check out Liz Weinmann’s book, Get DARE from Here™! – 12 Principles and Practices for Women Over 40 to Take Stock, Take Action and Take Charge of the Rest of Their Lives, by Liz DiMarco Weinmann, MBA. All rights reserved.  

All of the content on this website and in the other content-driven products and services of The DARE-Force Corporation are based on sound business principles and practices of strategy, operations, leadership and marketing, and on current and emerging trends in those referenced business principles and practices.  None of the content on this website, nor in the other content-driven products and services of The DARE-Force Corporation, are intended to be, nor should they be, perceived as, practiced as, or applied as, counsel, diagnosis, or treatment for any implicit or explicit mental, emotional or physical health challenges.  

 

 

 

You’re Never Too Young or Too Old to Get a Sponsor – Part 1

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people meeting 5 20 13From clients as well as students, I field a lot of questions about the importance of having a career SPONSOR, specifically:

1) The role of SPONSORS vs. Mentors
2) How to find a SPONSOR
3) What to expect from a SPONSOR
4) What SPONSORS expect from you.

Those are all questions that serve the mentee or sponsored individual much more so than the Mentor or SPONSOR. Each role has very often different parameters, benefits and expectations.

mentorThis blog deals with the role of SPONSORS vs. Mentors; and how to find a SPONSOR. Part 2 will address what to expect from SPONSORS and what SPONSORS expect from you.

Mentors are usually informal advisors and counselors, perhaps your supervisors, teachers, colleagues or even – and most especially for mature professionals – former direct reports you trust. “Mentor” comes from the Greek guide who helped Odysseus on his legendary journey; therefore there’s both an implication and an inference of altruism. Don’t ignore or neglect to maintain good relationships with younger professionals you helped early in your career, as they may be in good positions to help you later…as Mentors or SPONSORS.

Typical roles of Mentors:

  • …provide guidance, opinion and perhaps difficult to obtain information and introductions that could be useful for your job or career.
  • …are good sounding boards that can help steer you as you refine your goals, consider your options and develop an action plan.
  • …can be short-term or long-term advisors, and they usually get satisfaction from the fact that their wisdom, experience and expertise are valued.

A SPONSOR, on the other hand, is someone in usually a more elevated position of power or influence, with crucial connections. The SPONSOR is a guarantor, patron and ambassador of your strengths, motivations, knowledge and aptitudes – an advocate for you to someone with whom they have a strong reciprocal relationship, often one of “quid pro quo.” SPONSORS open doors to places that other people don’t even know exist, and they have levers others may only suspect, wish for, or deny exist. In many cases, the SPONSOR acts as a protector and defender – hence, the most literal defining characteristic of an advocate.

Mentors and SPONSORS can be the same people, and I have served in both capacities. Mentors are slightly easier to cultivate and engage. The SPONSOR relationship is a different construct, and involves considerable more work and responsibility, depending on the environment and your goals.

Here are a few tips on how to find a SPONSOR, depending on your goals:

  1. Internal advancement: Volunteer to contribute to important task forces and committees whose leaders are executives of considerable power, influence and connections. Many SPONSORS pick the people they think will be stars in the organization, and champion them accordingly.
  2. External visibility, advancement, job hunting: Join at least three professional organizations where you can assume active committee roles that will increase your visibility and enhance your capacity to engage influential executives with the power and inclination to SPONSOR you – for your next job, promotion, etc. This includes becoming active as a volunteer or board member for a nonprofit that you respect and whose leadership you admire.
  3. Prospect Cultivation, Solicitation and Client Engagement. Serving on professional organizations’ committees is crucial for executives who work in consulting as SPONSORS can recommend them to clients. SPONSORS alert consultants to account movement so they can gain entrée to new business before other firms do. Consultants have to be extremely good at what they do, as referrals and other testimonials are prime SPONSOR currency.