Recognizing the financial worth of your skills

So do you know what skills you have in your personal toolkit? Are you technically competent, a great communicator, gifted motivator, have great attention to detail? How do you compare to your colleagues and competition in the market? Do you know what skills are most valuable in your current profession or the profession to which you aspire? Or, are you like the majority of people who work blindly for your organization or for yourself without knowing what skills you need to strengthen other then what you are told in your annual appraisal?

Having performed many skills competency assessments for my clients and when combined with understanding their respective career goals I have concluded that many of us learn skills we do not need, have no interest in or inherently are not good at. The skills we do not focus on are those that will assist us in the future, either through advancement at your current firm or in an alternative career, or those we are naturally gifted at. However we still expect great financial remuneration.

Why do we not recognize this? One concept was explored by Marcus Buckingham in his book 'Now, Discover Your Strengths' where it was suggested that many organizations, and society in general, look to improve weaknesses rather than develop strengths. Look at your own business or organization and consider how true this concept is. If you run your own business there is the urge to become good at everything rather than focusing on your strengths and outsourcing/hiring employees for other responsibilities. You will be worth less to your business from a financial standpoint unless you focus predominantly on what it is you excel. Similarly at a large organizations it is all about developing perceived weaknesses rather than focusing on your strengths. Therefore your financial worth to an organization will be limited unless you are working to your strengths and rewarded for those.

My theory is that you will never achieive your true financial worth in the market if you are always focused on improving your weaknesses than building your strengths. The sad fact is that you will always do this if you work in a career that does not utilize your strengths. Therefore the first step is to identify and assess your strengths and research careers that connect you to those strengths. You should then consult with a professional to understand the value of your strengths in the market and how you might make the transition. This will most likely not be a one step process, rather two, three or more steps but at least you are taking the necessary action to realizing your true financial worth.

Keeping your word, being brand 'you'

There is one simple thing, or supposedly simple action we can take in order to control our destiny and achieve our goals. That is 'be your word'. By this I mean if you say you're going to do something at a particular time today, tomorrow or some other moment in the future then respect yourself enough to follow through. It is all so easy to become reactive rather than proactive, blame some other event or not even concern yourself with the fact that you didn't do what you said you would. "What's the big deal?" you may ask. My response to that is that you're creating a habit for yourself that your own word is not important enough to be kept.

The consequences of this are magnified across the course of an entire life. If you don't do what you say you'll do then what is the basis of the actions you actually take? Think about it....if you are reacting to everything going on around you rather than being proactive then who or what is controlling your life?

In not keeping your word to yourself you are basically not adhering to your own values. This is because your most highly rated values govern you at proactive moments. You are also negatively impacting you as a brand. A brand can only be established and remain successful if it keeps true to itself. If you don't keep your word then your brand suffers and becomes blurred - brand blurring is very common in society today because many of us are reactive rather than being proactive.

Achieving your goals are also not reached by being reactive, rather only by doing what you say you'll do when setting your goals ie. being proactive will you succeed. Just a final note to this entry. There will be many times when you have to react to a situation or event and how you react will be crucial to the path you take in life. I'm not saying that being reactive is not appropriate, rather learn to live by your word not by others.

Importance of professional vision and career map

How could you ensure you achieved a successful journey if you had no idea where you were going or did not have a map of how to get to your destination? The most hardened world traveller still plans and considers possible transport and accommodation options in advance though they may not make a definite decision until they need to. When you travel you still consider what you need to pack to ensure a successful journey. This travel analogy can be applied to your professional vision and career map. That is, how can you ensure a successful career if;

(1) you have no professional vision
(2) do not know what tools you need to be successful
(3) have no career roadmap of the path you must follow to get to your destination.

Let me address each of the above separately.

Your professional vision is something born out of your personal values so if you do not know what your values are then how can you create a professional vision. With no vision how can you provide yourself with assurance that you are working in the right career. The answer is you cannot. A professional vision necessitates the creation of a personal brand so you need to establish 'brand you' before you can create an authentic professional vision.

If you do not have the correct tools you cannot build a house or repair a car - same goes with your career. If you don't have the correct tools for your chosen vision you will not be successful. Not because you don't want to but because you will not be capable. You therefore need to identify the tools (think knowledge, skills, networks) that your professional vision requires for success.

Lastly without a map it doesn't matter how clear your professional vision is or how skillful you are - you will get lost, misdirected, confused and take too many wrong turns. You will most likely run out of fuel (think energy and motivation) and end up taking a journey you did not plan for or want. However it will take too much time to turn back onto your original path so you will never achieve your professional vision and have that career success. Having a detailed career map will allow you to pre-plan your short term journey as well as have an idea of where your career path will take you in the future. Put simply it will provide focus and minimize any waste of energy and time.

My new focus is on personal branding and this incorporates creating a professional vision and career map that is specific for each individual.

The brand called 'You'.

In today's society and the society of the future I believe there is a strong connection between personal branding i.e. brand 'you' and your career success. I also believe that this connection has grown over the hundreds of years of history as humans as individuals become more prominent and less dependent on being part of a large collective. If you look at history being part of a group was your identity, whether it be military, agricultural, government or in today's society an employee of one of the huge global conglomerates. You were defined by what you did and the employer you worked for. One example close to my heart is the need of many to belong to a huge financial services organization such as Goldman Sachs or Morgan Stanley etc. They lose their personal identity or 'brand' and become a part of a larger operating unit.

However I believe with society starting to become even more commercially aware, entrepreneurial, profit driven and work-life balance focused that this trend of not having to create a personal brand, or 'brand you' is starting to reverse. Creating your brand with your name and personality as the brand itself is something many in the entertainment and creative arts fields have worked on over many, many years. Those who are most successful are not necessarily the most skilled however their brand represents something to the rest of the society that makes them the most desired, to become role models for the rest of us. Basically they stand for something. I feel that the rest of society is starting to understand the importance of personal branding and how it can impact our lives. Career is only one focus of where personal branding can be applied but it can be applied everywhere.

Personal branding can help you understand what your values, interests and passions are in life and have those communicated to those in society with whom you want to build business relationships with. Personal branding is paramount for creating an online presence however many of us build a website without understanding 'brand you'. You will never perform well in business if your brand is not a true representation of who you really are because it will not attract the market population that truly desires your good or service. They predict that by 2012 that more than 50% of the workforce will be self employed and even large organizations will hire your services but will not employ you. How are you, without a personal brand, going to differentiate yourself from the thousands of accountants, HR, sales, IT support who are competing for the same jobs. In the entertainment industry it is also necessary for screen actors, Broadway performers and singers to create a personal brand, as they need to differentiate themselves from the thousands of others who they are in competition with.

If you cannot stand out from the pack in the future you will not succeed. Therefore in thinking of yourself as a product or service what do you stand for? I think the importance of personal branding cannot be understated and for that reason have three websites www.thebrandcalledyou.co.uk, www.yourbranddefined.com and www.yourbranddefined.co.uk that will be focused on helping society define themselves as an individual.

Moving outside your comfort zone....

One of the greatest things feared by humans is change and moving outside of what is habitual. Even if the benefits in the future are potentially great and far outweigh what we have present day, humans still hold onto that small doubt that the change may not be positive. Of course this is not all of society. There is a concept that the world is split 5% and 95%. The 5% are pioneers and risk takers and the other 95% are not and lead ordinary lives. Is it not true that the world is changed by only a few? This is what is communicated by The Secret which has been making the rounds the past year or so.

However all of us, at some stage in our lives, wish that we can do more than what is normal. We would love not to fear the unknown, rather embrace it, because though you may be trapped in your current existence you always want to believe you are in control and can break free whenever you choose. There are two suggestions that may help you realize the change you want that if performed will reduce the stress you may feel from moving outside of your comfort zone.

Firstly be careful of the language you use. The words 'cannot', 'impossible', 'not for people like me', 'there's no time', 'it's too risky', 'I'm not good enough' etc are not words we should use when we look at making change. The perception your mind has of the change is governed by the language you use so if you use negative words then your brain will reflect a negative image. Rather use positive words and phrases such as 'I can', 'I am capable of change', 'I believe in myself to be successful', 'nothing is impossible', 'there is no reason not to change' etc.

Secondly focus not on the goal but the actions you need to undertake to achieve the goal. For example, if you want to go for a big promotion but am scared to make the leap consider what you'll need to do in order to be promoted. Focus on the extra education you need, take on additional projects, network with management more frequently etc. If you want to start a business don't focus on the perceived stress of running your own business...rather focus on the tasks you need to do - a business plan, marketing, networking with potential clients, create a financial plan and budget. By focusing on the tasks rather than the end goal the goal itself won't be so overwhelming because all you have to focus on is completing each small, manageable task.

I know that you will be continually challenged when attempting to move outside of what is normal to you ie. your comfort zone. But keep these two thoughts in mind (1) practice makes perfect so keep trying and (2) personal growth is achieved by moving outside of your comfort zone. This will lead to an increase in happiness and well-being because frustration is caused by wanting to do something that never happens.

Why passion is not enough to guarantee career success

Quite often I come across career coaching advice that always seems to guarantee that in order to have success in your career you must be passionate about what you do. To be fair I used to agree with this line of reasoning....I mean who wouldn't want to be passionate about their career. We work, as a total percentage of our living hours, somewhere around 40-60% so it would seem having passion is career goal number one.

However I'm come to the recent realization that to have a successful career having a 'passion' for what you do is not necessary and in many cases should not be the number one, two or even three career goal. Whilst passion is important let me tell you why passion shouldn't head your list and what perhaps should be the three top career objectives;

1. What exactly is Passion?

So you want to be passionate about your career/job? Then ask yourself to describe passion - are there degrees of passion, does it depend on where you are with your life, can your passions change, can you have more than one passion? All good questions I would say and without a definite answer you will drive yourself crazy attempting to select a job at a point in time in which you are passionate about over all other choices. If you do have an answer then guarantee yourself that you won't be passionate about something different, that you would like to do for a career, in six months.

2. Passion does not equate to level of skill

So we all want to be professional sportspeople because we have a passion for sport. So what, we all realize or at least many of us realize that it doesn't matter how passionate we are about something there is no guarantee we will be skillful enough or be able to learn enough to make anything from it. So I'm passionate about football...if I'm no good I will be going nowhere with that career goal except as a active member of the local community footbal team. I supose it depends on what you define as success but to say you're successful simply because you're doing what you love is not realistic.

3. Passion does not mean it meets your personal values

You may have a passion in respect to one of your hobbies, say building furniture. If you chose your career path simply because of passion then you might become a furniture builder, carpenter etc. However say your top two personal values are to have financial security and helping the community. If being a furniture builder neither gives you the money or time to meet your personal values then quite quickly your passion for furniture building will go stale. Would you consider your career a success if you were not meeting your personal values. However as a hobby, when it fits in around your personal values, it is a definite passion.

I hope this has shed a different perspective when it comes to considering your career path. Whilst passion is definitely important to have in your life, when it comes to choosing a career path you should also consider your inherent skills, your ability to master new knowledge and your personal values along with your passions.

Good luck.

Future education requirements

My topic of interest for today revolves planning your future education. Specifically what skills and knowledge you will have to learn to either (1) further develop the career you're currently in or (2) make the switch to another career.

The first step in considering future education or skills accumulation is to ask yourself 'why'? Is it something your employer wants you to do, is it something you read or heard about from your friends, is it just to complete the necessary hours required by your professional association or is it something you've planned as necessary for your next career step.

Secondly, ask yourself what you will gain from acquiring these skills. Will they open up and advance promotion possibilities, more money, better looking credentials and perhaps respect from work colleagues?

Thirdly take a moment to think whether these skills are really the ones you want or need to learn right now. Are there other skills or knowledge that would be more appropriate for you to learn. Consider the fact that in the future, right side brain career and related skills will become higher in demand that left side brain technical or knowledge skills. Is the education you are looking to involve yourself with really going to assist you in taking that next career step? Is the education you are looking to undertake going to become obselete in the near future?

Society moves in cycles and the education of today may not be so relevant for the future. Like jobs, certain education will become obselete due to the fact that education is linked to occupational demand - if certain occupations see their demand fall which they will, then the related education will become less necessary. A good example is the MBA. Years ago an MBA truly meant something as only a small number of people were eligible. These days there are so many MBAs offered, not forgetting those offered online, that the benefit of an MBA has been reduced. Reason being is that with so many MBAs the spread of quality professors and teachers has been so stretched that many schools have poor quality instructors. This I have heard from my MBA friends.

So the message for today is this. Don't blindly undertake education because you have been told to do so. You may not even be working for that person or firm next year. Instead reassess what education you need to take in order to develop the skills to keep you on your career path. This is particularly important if you are looking to change careers.

The foundation of personal improvement

Ask someone what they need to do in order to improve the quality of their life, make a life change achieve a goal and you will receive the following answers; obtain knowledge by way of experience or education, set goals, be positive, meditate....you get my drift. However these are only useful in allowing you to grow or achieve more from a personal perspective. From my studies I would say the following three factors are the key drivers to achieve growth and implement effective change;

1. Review and identify old habits
2. Create new habits
3. Be your word in adhering to the new habits

Of the three points written above I would say number 3 is the most important. Why? Well I work with sportpeople, businessmen, traders, executives and everyday folk and the result is always the same. It doesn't matter how well you analyse and plan to change if it is never actually implemented. If I identify bad fitness and diet habits and create new ones in order to become fit and healthy do you think this guarantees I will become fit and healthy? If I'm a trader with poor risk management processes and I create new ones to manage my trading do you think this means it will happen? Of course not.

The driver to achieving new goals and implementing change is simply to do what you say you will do. Nothing more, nothing less. But here comes the hard part - habits are very hard to break. It takes will power to get up at 5am if you were getting up at 7am. It takes will power to cut a loss making position whereas before you would believe it would come back. Habits form the basis of our lives as they represent our perceptions of what is real and true. However let me point out that there is no such thing as reality, just your perception of it.

Changing habits may and most probably requires the use of changing the language you use. Changing your language patterns changes your perceptions. Imagine how things would be if you didn't know of the word 'Impossible'? The use of Neuro Linguistic Programming, which I use with my clients, is very helpful in the matter of adjusting language patterns.

But coming back to 'being your word'. How many times do you say you'll do something and then you don't? For many of us all the time. However keeping your word says a lot about you. If you don't keep your word what is it worth? If you don't keep your word and make a habit of it, your inner you will not care what you tell it in the future. People do not keep their word as they are reactive to the world around them. However how they react is a habit therefore if you do not keep your word you will never break your habits and therefore never grow.

What influences your career path? Maybe it's not you.

Personally I think this is a great question as everyone, at some point in their life, will wonder how they came to be doing whatever it is they are doing. They may love it, hate it, wish to change a little, change a lot, further their education in this field or choose another path. But at the heart of it all the question remains - 'what lead me to the occupation I'm currently in?' For me personally this creates another question being 'what will influence my next career decision and is it the influence I should be paying attention to?'.

To answer the first question, I've come up with the following influences which may or may not pertain to you. These are mostly influences over us at a younger age where we were more open to suggestions and ideas.

1. Family - family history, financial position of family, respect for your father/mother etc.

2. Friends - keep respect of friends, same interests of friends

3. Financial - desire to be wealthy

4. Major event - this influence could have come from a major incident in your life

5. Idol - someone you respect eg. sportsperson, entertainer, media personality etc.

However when it comes to the second question not all of us are interested in finding the answer. For some of us our other values, such as financial security, family etc may not require us to question our career path. But for many the question remains and if it is not answered we are talking career dissatisfaction, demotivation, lack of direction, mid life crisis etc. Many of us have the option to change jobs, however studies have shown that the majority of changes made are within the same sector eg. Finance and even the same speciality eg. Investment banking. Why is it that many of us feel that change has to be so limited, that you do not deserve the right to completely change your occupation after a decade or two? You do realize that society only progresses as much as humans change and if we don't change our mindset the future of society is set. Having given this some thought I considered the following key influences over our career path, which we allow us to control our destiny.

1. Positions made available by organizations

The trend is changing however many of us will apply for jobs advertised and made available by big business. Even many small businesses exist due to big business. Only entrepreneurs and those involved in social science, scientific and technological advances really influence the direction of society.

2. The perception is that you are too old to learn

I've heard this many times that after even 5-7 years in a job many of us are fearful of leaving the security of what we have for something else, even though it may be more desirable. Money is a factor however it's the potential letting go of what you already know and starting from scratch that is the greater influence.

3. Perception of society that you are 'not focused' if you change occupations frequently.

Admittedly I get this at times because I've had a few different occupations. Rather than looking at my experience as diverse and well-rounded many employers will prefer someone with more experience in the same field automatically. Not because they are better but because they appear to be better due to the experience. I question that because I know I'm not the same person I was 10 year ago - for that very reason I should be in a completely different occupation. I would question someone not changing jobs at least every 10 years because that shows lack of personal and emotional growth from my perspective.

4. Fear of failure

I work with many of my clients on this and it's forever the same. It doesn't matter how bright the future would be if someone changed their occupation. If there is only the slightest chance of failure then it doesn't matter how much the current job is hated, people will not change.

5. Language Patterns and self belief

Let me tell you how influenced we are through the uses of language. VERY INFLUENCED!! If we didn't use the words 'impossible', 'unfocused', 'financially poor' do you think we would be so stressed out and scared of taking chances today. Our society has built itself around what others think of you and in fact the 1% of the wealthiest people in the world do not speak and think like you. They use words like ' pioneer', ' anything is possible', ' visionary' and more importantly they belief in themselves.

I leave you with this thought. The word 'impossible' is not a fact but an excuse. It is not based on fact but on fear. What might you achieve if you remove this word from your vocabulary? Think instead 'impossible is nothing'.

The good and the bad of the financial markets upheaval

As those who follow the markets, and even those you do not, we all know there has been a sizeable correction in the global financial markets over the past few weeks. Not just contained to the United States we have seen up to 10% corrections in the levels of all major international stockmarkets. Credit markets have taken the main blame considering that corporate profits are strong, valuations are reasonable and there is no immediate decline in global economic growth (except perhaps the US).

Of more immediate concern is the finance industry in the United States and the impact the recent blowout on subprime debit and other debit will have on the jobs front going forward. I read today that at least one mortgage company is shutting down and shedding thousands of jobs. Over investments houses and hedge funds will be doing the same thing as they bear the brunt of huge losses and no demand for particular products in the market. The bad news is that many people will lose their jobs. The good news going forward is you now have a chance to take a career change and will be forced to consider your next steps and take action that perhaps you had been putting off. Here is some advice;

1. Do not panic

Demand and supply for occupations has and will always trend up and down, never in a straight line, so this is not a once in a lifetime event. Accept that what has happened is not your fault and you have skills that are transferrable into other occupations.

2. Consider your options

This could be a blessing in disguise, forcing you to assess the current state of your career. Believe it or not you will have options to choose from simply because you have skills that can be transferred to other occupations. Leadership, technical financial knowledge, IT skills, HR skills.....whatever you have someone else will want in some way.

3. Research future job trends

It does not make sense to take a job in an industry where demand is predicted to decrease in the future. Why take the risk that you would be laid-off or downsized within the next few years. Rather undertake some research as to where future demand lies. Career coaches who specialize in research career trends (www.dynamiclifecreations.com) can assist you in determing a suitable path and identifying the skills you may need to take the next step. This may require going back to school, parttime or fulltime, but look as this step as building a solid foundation for your future.

4. Make a plan

Look at your financial obligations, your career goals, your level of knowledge, your skills and your interests. Put a plan in place that takes all of these areas into account. Talk about them with your close friends and family and take heed of their advice. But most importantly take the time to make a plan, I would say for the next five years at least. This will prevent you making any rash decisions. In most cases there is little difference between taking a job tomorrow and taking a job in a month - but the consequences of taking either choice will be huge in five years.

Signs that you need to consider a career change

Career goals are all well and good but how do you know if you are making plans in a career that (a) is going nowhere or (b) is not the career that you want to continue with in the medium to long term. There is no sense in making career goals if you are only going to change careers in the short term. The following five signs may alert you to the fact that you truly need to change the career you're in;

1. Lack of motivation

Lack of motivation can be seen in a variety of ways - not eager to get up in the morning for work, mind drifts at work onto other matters, you look forward to the weekend on Monday and dread Mondays with a passion. Lack of motivation is different from pressure or stress from too much work, rather it stems from conflict with your personal values surrounding work and leads to a lack of interest and subsequently lack of motivation to perform.

2. Using work time to work on your hobbies

Hobbies can be seen as the interests we wish we could focus on fulltime if we didn't have financial obligations or if that hobby could provide a level of financial security. Many of us enjoy our hobbies immensely and these could range from property speculation, stock trading, painting, writing, singing, shopping, professional sports....the list is endless. However working or thinking of your hobbies during work simply represents a distraction from the task at hand and is a sign that your focus is not on the job you are currently doing. It may mean you don't have enough work to take up the 8 or 9 hours of the working day but if you were dedicated to the job you would find more work or become involved in additional projects.

3. Admitting you don't like your current job

This is quite explanatory in itself. If you say you don't like your career then you don't like your career. That is not to say you should quit tomorrow as you may have other reasons eg. financial obligations or level of lifestyle that is keeping you working the job you don't like. In this case having fun may be more important than job satisfaction. However depending on your personal values and how they change in a year or two may see you move from a position where your highest rated personal values are not being met. All I am recommending is that if you don't like your job start exploring some possbilities for change in the future and having a plan of action. Waking up one day needing to quit your job today with no plan is not the way to go.

4. You are jealous of your friends' lifestyle

Jealously is about the fact that you see others having or experiencing what you want. This could be from a financial aspect, lifestyle aspect, relationship aspect etc. You may think 'why don't I have that'? Well first of all jealously comes from the fact that again your personal values are not being met by your current life however you see what is important to you being lived out by someone else. For example you may see someone who earns less but has their own business and works their own hours. Now if quality of life to you means relaxing and stress free existence you may be jealous. However if it means financial abundance and power then you probably wouldn't be so jealous. My advice here is take the actions necessary to achieve what you want. One of my favourite sayings is this 'if you always do what you've always done you'll always get what you've always got'.

5. You don't see a future in this career

Put simply if you don't see a future for yourself in the career you are currently working in then you must consider making a change. First step is consider all of your options and start researching today.