Think As Inc

LESSONS LEARNED FROM A DOWN MARKET

March 25, 2010 on 1:15 am | In career coaching | No Comments

This difficult labor market gave ample opportunity to learn how to manage your career more effectively.  The lessons so obvious in a down market also apply as times improve: 

Network, network, network.  In a down market, everyone knows networking is key.  Because fewer positions are advertised, those with inside connections learn of opportunities faster, respond faster and thus have better chances.  As the market improves, remember to maintain and expand your network.  The best time to network is when you don’t need to.

Everyone is self-employed.  In a down market, everyone knows there is no job security.  If you don’t contribute to your firm in a meaningful way, your job is in jeopardy.  In this way, people are really self-employed, and their “employer” is merely their client.  As the market improves, remember that you are self-employed.  Your boss is merely one client.  Keep your client happy, and keep yourself marketable for new “clients” as well.

Experience and work ethic count.  This down market followed an incredibly generous up market where relatively inexperienced people were thrown lots of money and lots of responsibility quickly.  Now, companies are again interested in people with real experience and demonstrated diligence and follow-through.  As the market improves, remember to manage your career for the long haul and not just for the next big title or raise.  A well-planned and well executed career path is attractive in any economy.