Last month I was asked by the Columbia Business School Alumni Office to share my thoughts on career transition. As a coach who has personally transitioned twice, I have learned a few things. This entry is the first of several tips:
At various times in my career I found myself deeply appreciating what I had learned at Columbia (during my brand management days) and then wondering how I’d ended up at B-School in the first place (standing with eight fragrance modifications on my outstretched arms while my client and colleagues smelled me). Many business school graduates, either because of heavy student loan burdens, or for reasons of prestige and achievement, pursue careers in Financial Services or Consulting. For some, these careers offer a very satisfying career path. For others who find their interest waning, the transition can be a challenge. How do you make a change when a) You haven’t had the time to cultivate side interests, or don’t even know what they are and b) You don’t see how you will pay the bills in a post-Finance career? Here are a few of my thoughts:
Take the Long View
Good transitions take thought and time. In my experience, it takes two years to learn a new job in a new discipline. We’ve all heard the stories of the investment banker who quits and starts his own vineyard. Yet ask him about the road to success and you will hear about some real white-knuckle moments. The “98% perspiration” needs time. I experienced this first hand as I developed my own coaching practice. My timeline quickly went from one year to two years, and I had to ask myself if I really wanted it.
If you are looking to start a business, stay in your current job, or shift to part-time or consulting until you have traction in the new area. If you are looking for a new job, extend your timeline. You may need to look longer to find a company willing to take a chance on you. Or you may need to volunteer or intern to prove you are serious. Either way, don’t set yourself up for failure by taking the lottery approach.