Career Coaching Ventures Building Your Career & Business From The Inside

Category Archives: Uncategorized

“I am planning to start sending out job applications for graduate positions opening in September. When is the best time to kick start the process?”

2014-03-07 12.56.03

In the latest in our series of short Q&A blogs, we address one of our client’s questions: “I am planning to start sending our job applications for graduate positions opening in September. When is the best time to kick start the process?”

I would say that the best time to commence your job search process in time for the September recruitment season would be March-April if not even earlier. Generally, I advise to allow at least 4-6 months for the preparation period and you will need to factor in holidays and vacation time, such as August into your planning.

Why so long? Well, first of all, you need a good few months to email or call your target companies to gather the names of senior people within the departments you would like to target (and some junior people too). Then you should spend a few months setting up appointments and meeting these people and following up with them. Secondly, optimising and polishing your CV, Cover Letter and Video Resume (where applicable) will take some time and dedication on your part in order to have them tailored to the latest requirements of the industry you are aiming for.

So come September, you have all your documents organised, your networking files ready and then you can start sending ‘warm’ applications rather than leaving it till the last minute and sending out applications in a rush to target companies where you know nobody and nobody knows you. This will just lead to more anxious waiting for news from the companies, and a lower chance of success. So start the process early and be prepared in time for early Autumn!

Succeeding at an interview using 4 key sales techniques

It is common knowledge that interviews are about selling yourself to your potential employer. This means that you can prepare for an interview using some basic sales techniques to help you stand out from the competition and close the deal – getting a job offer.

Here are the key sales techniques you can utilise to accomplish this:

1. Conduct thorough research on your prospect (your target company). Come to the interview armed with all the background information you may need and all your questions prepared. Remember: your purpose here is to identify the need (or better, needs) that your prospect has and that you are capable of fulfilling. In this case, the main need is clear – there is an opening and they need a qualified person to fill it. However, all your competition is aware of the same need. What you need to do is to drill further using questions you have prepared to uncover other more subtle needs the competition may have missed. The secret here is to spend as much time on thinking about the questions you will be asking as on the actual practice of the questions they may be asking you. Take this interview into your control in order for you to lead the meeting. And for that, you need skillful and targeted questions.

 

2. Once you have discovered these additional needs, you need to construct a short pitch specifying why you are the one able to satisfy these needs in the best possible way. The hardest thing is that you may need to improvise at the interview but to make this process smoother you can design your so-called ‘elevator’ pitch ahead of time prior to the actual meeting. Keep it short and to the point and use it as an opportunity to showcase your unique selling points – why and how you are different from all the rest. Then during the interview you can tailor it to the particular needs identified. Practise the pitch ahead of the interview a number of times in front of others and ask for feedback – you really need to get as close to ‘perfect’ as possible.

 

3. You can bring some further information about yourself to the interview – anything that can enhance your personal brand and build up rapport and trust between you and your prospect  the hiring manager conducting the interview. It could be a link to your blog, articles you have published, evidence of conferences you have presented at. Be careful selecting the most effective evidence – your aim is to help speed up the selection process in your favour not hinder it.

 

4. At the end of the interview, don’t just leave with nothing apart from a brief thank you. Just like an experienced salesperson would do, you should ask for the next steps from their side and whether they liked what they saw and if they have any particular points of concern you can address. It may be hard, but based on their answer you will be able to judge the main concerns and tackle them there and then. It is a pro-active approach that shows your passion for the job and the company. Some very brave interviewees steer the conversation towards interviewers themselves speaking about why you would be a good fit for the role, in effect doing your sales job for you.

I hope you can apply the four sales tips about to make you successful at interviews and help you close that deal.

 

 

 

How to make a positive impression at a sales meeting

Let’s say you have successfully arranged a follow-up second meeting with a client or prospect. You have arrived at their offices and they have come to pick you up from reception.. Now you are faced with a journey in a lift or up the stairs with this person. This is something a lot of sales people genuinely don’t look forward to. A number go to great lengths to sharpen their so-called ‘elevator pitch’.  Others prefer to take it as it comes and choose not to prepare at all for this initial stage of the meeting.

I would suggest that producing a lasting second impression on a client or prospect you have met before is often more important than a positive first impression. I consider the fact that you have managed to agree to that crucial second meeting a sign that they would like to gradually progress with discussions or negotiations and that you have already managed to establish a certain level of trust and understanding. You now have an even more challenging job of solidifying this trust and moving the client or prospect towards closing the deal.

So what should you be saying and doing in those awkward two minutes before you sit down in the more formal context of the meeting room or their office? My approach was always to skip the chit chat about the weather, how nice their offices look and so on. Instead, I would enquire about a recent presentation they have given, an article they have published, a recent event the company participated in or a new product or service they have introduced. In other words, the second impression you should aim for is of a well-prepared person who has thoroughly researched their client/prospect and the company and is genuinely curious about their career and achievements. Steer clear of questions about their personal life at this stage – that may be something to explore towards the end of the meeting or once the deal has been closed. You need to prompt the client to speak about themselves and their achievements. And while they speak, listen, don’t interrupt or change the subject to your own achievements.

Once you arrive at the meeting room, you are faced with a harder task – how to switch the conversation towards the actual topic of the meeting be it deal renewal, discussion of supplying the initial package of services or any other objective.  It is important to be polite and subtle when moving the discussion toward starting your meeting in earnest. Finish listening to what the client has to say and to finalise the discussion in the lift, you can say something like, “That was very interesting. Sounds like a good conference. Do you think you could email me your slides after the meeting?” The client will respond, hopefully in a positive way. Then you can move right on to say, “What I wanted to discuss today is…” A lot of salespeople miss the point of the conversation when a client is giving clues that they want to move on and talk about the actual topic of the meeting. The clues could be lowering their head, falling silent, raising their eyes etc. If you can anticipate when this point may come and change the topic before the clues start to be visible, you are in the win.

After the meeting ends, don’t forget to discuss and agree the next steps. Never leave the meeting ‘unfinished’. The next steps could be arranging a phone call or a third meeting, having the contract sent out to the client for signing, introducing other people from each company to each other etc. When arranging a follow-up meeting, always suggest a date – this makes arrangements more definitive while at the same time providing the client with flexibility to suggest an alternative date and time.

And finally, thank them for their time. So many people forget this simple act of respect and politeness and walk out with just a bye-bye or a ‘speak to you soon’. Thank them a couple of times in fact. People like it. They like to be appreciated . If you follow the steps above, hopefully the impression you produce during your second meeting will be as good as or better than the first encounter and will open up real possibilities of closing the deal.

Getting hired without having direct relevant experience

 

Everyone has probably had the experience of seeing a great – perhaps even your dream – job advertised, reading through the person specification, and coming to the sad conclusion that you don’t have the experience the employer is asking for. Sometimes you are right to give up and turn your energy elsewhere: if you’ve spent your whole career in retail marketing, you probably won’t be qualified for a top job in an investment bank.

But other times, people rule themselves out of jobs unnecessarily. Employers write the person specification based on their best guess of who would best suit the position. But sometimes you can persuade them that your package of skills and experience may actually be more suitable than the candidate they thought they were looking for.

How to accomplish this? First, it is of course critical that you prepare a detailed, persuasive and well-structured cover letter in which you clearly explain why you are a very strong candidate even though you don’t directly satisfy their stated requirements. Think creatively and try to package your current set of experiences in line with what they want to hear. For instance, if you decided to apply to a management consultancy and if you have travelled and volunteered a lot, then you can tailor it by stating that international travel helped you gain invaluable inter-cultural experience, which as a result will assist you in working with people from various countries on international projects. This can also indicate well-honed communication and social skills – both important assets for a management consultant.

Secondly, I would also suggest getting in touch with as many people within the target company as possible, and most importantly – with senior managers responsible for hiring – prior to you submitting your application. Networking and getting to know insiders can be particularly useful for candidates with non-standard experiences for the following reasons. First, you can gather important insider information on the culture of the company and the typical profile of the people they tend to hire. Secondly, you can talk to them direct about your situation and gain an objective opinion of whether it is worth for you to apply and what chance you really have. It is not uncommon for candidates to change their minds about applying after they have spoken to employees of their target company. And it is much better than getting an offer and having to leave soon after you have started due to an imperfect fit.

When applying for jobs, you are selling yourself so it is very important you create and tell a coherent story based on your experiences, explaining who you are as a person and why you will be an asset to them if they hire you.

Never be afraid to showcase your varied and unique experiences. A lot of employers look for diverse personalities to staff their workplace as diversity and uniqueness can lead to generation of some amazing ideas and ventures.

Writing a successful MBA application – what does it involve?

MBA

While putting together this article, I tried to apply both my personal experience of submitting a successful MBA application to Warwick Business School a few years back and also the experience of clients who I have worked with to submit their own applications to top-ranking MBA programmes.

What business schools want to see from their candidates are the unique life, work and educational experiences they can bring to the programme. So you should highlight any international projects you have run or been part of, any secondments abroad you may have had. Another area of great interest to these schools is your leadership experience. This doesn’t necessarily need to be direct management experience – it can range from project management to leading a sports team or club during your university years. Mentioning voluntary or charity work and not forgetting your hobbies can score some additional ‘brownie’ points for you.

B-schools also look at what a candidate can gain from the programme. Here it is worth to concentrate on particular courses that are of interest to you for a specific reason. So for instance, if post-MBA you are hoping to set up your own company, then taking financial and management accounting courses will benefit your overall knowledge and exposure to the fundamentals of finance. A lot of applicants like to mention diverse networking opportunities that MBA presents and there is a reason for that. You will meet some high flyers, high achievers and generally interesting folk and it will expand your career and business opportunities further. So it is important to list this in your application as this is one of the main benefits MBA provides (and charges a lot of money for…).

In almost all instances, you will be asked to write a statement of motivation. The structure of this should be very similar to a cover letter for a job, including the reasons you would like to apply to this particular programme, people and graduates you may have spoken to in order to gain an insider perspective and of course, the reasons why you should be accepted and the ways you can contribute.

And certainly, don’t forget to update and optimise your CV. If you have had a portfolio career, you may be asked to submit several copies of your CV, each outlining a particular track. And it goes without saying that you should ensure your CV is well-designed and thoroughly proofread.

Once your whole application pack is ready, don’t submit it too hastily (unless you’re up against the deadline). Leave it for a couple of days, then re-read it with fresh eyes and if possible, ask somebody else take a look for an even fresher perspective. And then you are good to go. In terms of timing, you should in any case aim to submit your application well before the deadline as applications received are reviewed on an ongoing basis – not all at once at the end.

If you are applying for an MBA programme and need guidance and advice on finalising and optimising your application pack, don’t hesitate to get in touch at dasha@careercoachingventures.com

How did MBA benefit your career? Interview with Dasha Amrom for Prospects magazine

Capture interview

Are you a good salesperson?

 

A lot has been written about what being a good salesperson means in general terms. But this time, I would like to use a particular example that I have come across when selecting a provider for my new kitchen.

We went to look at options to receive quotes from several kitchen providers. At one of the large companies we visited, the salesperson was clearly more interested in selling the units and getting their commission than in delivering true value to us as clients. Nothing was measured properly and the kitchen design was constructed based on standard units without extra thought going into the best possible positioning of appliances, colours of worktops and cabinets. Throughout the whole appointment, the salesperson kept mentioning pricing and how professional the company is (and how that justified them charging these particular prices) leading us to the conclusion that the salesperson was interested only in making the sale.

The total time of the appointment for something so expensive as a new kitchen was just under an hour. At the end, we were provided with a quote, which included a number of handwritten “extra discounts” (ranging from 10 to 20%). We had no idea and were not explained where these discounts came from so it appeared that they were made up there and then for the purpose of closing the sale and appearing benevolent to us by providing these made up discount values. Needless to say, we didn’t go for this kitchen brand (although the price could have been acceptable).

The other provider we worked with behaved completely differently. The designer/salesperson came out to our house (even though normally customers go to the company’s premises). He measured everything carefully, spent 3 hours advising us and designing the kitchen on computer and followed up straight away. There was a mention of a discount towards the end of the conversation but we felt no pressure to close the deal there and then (which is critical for the purchase of luxury high value items). The next day, he forwarded the designs and quote applying the initial discount if closed by a certain day. As a result, they are still in the running for our kitchen as we feel we can work with them and there is a potential to negotiate further.

So the key lessons from these very different examples are:

  1. Aim to add real value to a customer by demonstrating your expertise and knowledge in the field you are operating
  2. Avoid the hard sell – expertise is what sells
  3. Try not to construct imaginary discounts as you go. It is much better to provide one after the meeting and then be open to further negotiations
  4. Follow-up and invest your time to close that sale (especially if you are selling high-ticket items)
  5. Be prepared to re-do the proposal you have initially developed several times if the customer has changed their mind and needs some amendments to be included
  6. Keep a positive attitude and smile (in person, on the phone and via email). Nothing sells better than a likeable person

Hot tips for nailing management consultancy assessment centers and case studies interviews

 

The first and most critical way to increase your chances of success during these challenging interviews is to prepare. Once you have been informed about the date of your assessment centre or interview, make a preparation plan and set this out in an Excel spreadsheet. Aim to schedule at least two hours of preparation per day in the few weeks ahead of your interview. There are lots of published books and internet resources, such as the website of each of the major consultancies, which give examples of case study interviews. Read as many of these as possible. Have a search on YouTube for videos of case study interviews from various firms to understand various possible approaches.

Typically, cases cover such areas as improving a company’s efficiency, mergers & acquisitions, expanding into other regions/globally, re-structuring. Make sure you have some understanding of each of these areas. I normally advise incorporating a business framework(s) to a case study in point. It is worth reviewing SWOT, Porter’s etc. Interviewers like to see the candidate being able to apply their academic knowledge to a particular real-life situation.

Structure your answer carefully, starting with an overview of the industry, company, products and then drilling into the detail of the case. I normally recommend that candidates come up with a minimum of three factual recommendations grounded in the information provided. Make sure to refer to all the graphs provided, but keep in mind that some information may be less relevant to the case and included as a test of your analytical judgement. Point this out during the interview or assessment centre.

Interviewers want to see critical thinking and innovative solutions. So read up on the latest economic/political/technological news and developments around the world so you can supplement the information provided in the case with relevant real-life knowledge. This is a sure way to distinguish yourself from other candidates. Management consultancies particularly favour case studies involving emerging markets so following developments in Latin American countries, such as Brazil, Russia, China, India at a minimum should be a bonus when facing your interviewer.

And of course, make sure to role-play – with a professional coach, somebody you know from the consultancy you have applied to, or family and friends. Practice and role plays will make a tremendous difference to your performance on the day as you will feel more confident having received prior feedback on how you present and justify your conclusions.

And most importantly, believe in yourself! If you were good enough to get selected for this particular stage in the process, you are good enough to progress to the next stage and ultimately get that job. You just have to prove it. Good luck!

What does it take to get a job at a private equity firm? Tips from an insider

PE

Today we are talking to an analyst from an international PE company based in London.

When recruiting for your private equity company, what are the hardest interview questions you ask candidates, and what are looking for in their answers?

For a well-prepared applicant most questions should be quite straightforward. As most people who apply to private equity jobs already have experience in investment banking, consultancy or transaction services, the interviewer mainly looks how well the applicant would fit in the organization and the company’s investment philosophy. We always ask what the applicant would do if we gave him €50 million.

Despite being categorized as a standard finance interview question, a lot of applicants fail to recognize that this question not only tests commercial awareness, but also the fit with the investment philosophy and criteria the firm operates in. For example, when applying with a large LBO-fund, you may want to look for a public company with large recurring cash flows to cover the debt schedule. But when applying with a smaller fund, you may want to look, for example, how the latest technology can disrupt an industry and how that PE fund can provide growth capital.

For candidates applying for internships or analyst positions at a PE firm, what would be the most important things to avoid on their CVs?

Private equity investing requires long-term commitment and devotion. As such, it can actually be better perceived to mention one company or experience where you were committed to actually make a difference and achieve results, than to show a 2-paged resume with dozens of internships at different places.

How would you describe your typical day?

This really depends on the stage we are in of the investment process. We can be doing research on some investment opportunities, or financial analysis and valuations, attend meetings with management or follow up on our portfolio companies.

How important is networking to getting an internship or analyst post at a PE firm? Can you provide some examples of successful networking techniques you have come across in your career?

One of the keys to successful networking, is to build relationships for the long term. This is even more important in private equity, and specifically regarding job applications, as these are scarce. If you are convinced a career in PE is for you, start to build your network early and make sure your name is on the list when a PE firm is looking for someone to fill a position.

MBA or CFA for a career at a PE firm?

Both programs will give you a strong edge as a private equity analyst, however if you want to be a successful active PE investor, I am convinced an MBA will give you a better skill set. It will help you to understand different business models and how these are changing. It will help you understand strategy, operational effectiveness, and other important aspects of business. It will help you to work more closely with management. In the end of the day, a PE investor makes money buy building businesses.

Новый год – Новое CV – Новая работа. Подсказки как сделать CV, которое соответствует новому 2014-му году

Миновала приятная череда новогодних праздников, и начался Новый год, с обилием надежд, ожиданий и планов. Среди них, возможно, и поиск новой захватывающей и хорошо оплачиваемой работы, тем более, что общее улучшение экономического климата в мире обещает значительное оживление на рынке рабочих мест. Но… ваше CV должно отвечать растущим из года в год требованиям. Поэтому мы решили снабдить Вас для начала короткими и доступными подсказками, как  в наивыгоднейшем свете претенденту на работу представить свой образовательный и практический опыт.
1. Прежде всего, обновите всю вашу контактную информацию, не забыв включить и почтовый адрес. Мне приходилось видеть безадресные CV моих клиентов и даже такие, которые вообще не содержали контактных данных. Такое могут позволить себе только звезды шоу-бизнеса, которых, в крайнем случае, потенциальный работодатель всегда может найти на экране телевизора или на рекламном постере в метро. Но ваша “популярность” намного скромнее, помните это.
2. Ключевую роль будет играть ваше персональное заявление, которое сжато, некосноязычно и доказательно должно представлять вас, как уникального специалиста, без которого данная компания ну уж никак не сумеет обойтись и, тем более достичь,  новых высот и доходов. Здесь же приоткройте и свои ожидания, которые вы связываете с новой работой, не забыв упомянуть не только зарплату и премиальные.
3. Я всегда напоминаю своим клиентам перечислять свои хобби и интересы, выходящие за рамки специального образования и работы. Это поможет подчеркнуть вашу индивидуальность и гармоничность. При этом надо соблюсти чувство меры, ибо, к примеру, увлечение боями без правил может быть расценено как признак наличия излишней агрессивности, а собирание спичечных коробков – признаком занудства и серости.
4. Не заблуждайтесь, что если вы работали на большую и известную компанию, другие обязаны знать в деталях о ваших достижениях и обязанностях в ней. Не погнушайтесь качественно представить фактическую информацию об этом, не ограничиваясь лишь количественнымипоказателями. При этом, опять-таки, соблюдайте лапидарность и нетривиальность подачи материала.
5. Не следует упоминать буквально все вехи вашей трудовой деятельности (например, работу в университетском клубе), дабы не загромождать ваш CV: предоставьте возможность работодателю дочитать до конца ваш CV без раздражения и язвительной усмешки.

 

И последняя подсказка: если вы нуждаетесь в профессиональной помощи при составлении и сопровождение CV и создании заявительного пакета, воспользуйтесь электронным адресом
dasha@careercoachingventures.com или посетите наш сайт https://www.ukcareercoaching.com для получения начальной информации.