How Do You Know When to Take Career Risks?

(Photo credit @claybanks)

Venture capitalists are by definition investors who take calculated risks, and usually really, really big ones. Their goal is to invest in multiple companies with the assumption that the majority of them will fail, but at least 1 out of 10 will yield 10X or higher results (which will hopefully make up for the failed investments). They spread the risk out. They listen to hundreds, even thousands of startup company pitches and select the ones they think have the best chance of success, after evaluating the company’s management team, the financials, the tech’s potential, etc.

And even with all the resources at their disposal, they get it wrong ALL the time.

So please don’t think you have to have everything figured out completely before you decide to take a career leap. And know that you’re going to make some mistakes along the way - but that’s ok!!

Let me offer you some tips and strategies to help you with this type of career decision-making.

With VCs being taken in by the hype, how can you avoid joining a leaky ship (aka a bad startup)?

• Try thinking of making career changes as taking calculated risks. For some, it’s helpful to think of a chess game. How many moves ahead can you plan out and how does that help you decide what to do today? When/how do you need to shift strategy when your “opponent” throws up a surprise move (aka a life change, an industry shift, or an economic downturn)?

• Learn to identify your risk tolerance. I talk often with students/clients about identifying your ‘risk tolerance.’ Everyone has a different way of assessing risk in their career and in figuring out how much risk they can handle at any one time. Remember, it can also fluctuate based on your age, family dynamics, finances, etc.

  • Check out this article for more details on the RRIS method for improving your risk tolerance.

• Face your fears. You can also work to increase your risk tolerance by trying this fear-setting technique from this famous guy Tim Ferriss I knew in college.

  • The aim of the exercise is to name your fears so you don’t let them lurk in the shadows and prevent you from taking big actions. I was surprised by how helpful it was the first time I did it, that even though I scared the hell out of myself, it felt great to vocalize my fears and face them!

  • Here’s another take on this fear-setting exercise too.

Another way to make hard career decisions is by educating yourself so you aren’t leaping blindly.

• What universal skills do you have? You can educate yourself about your skills by taking assessments like StrengthsFinder.

• Learn about the startup landscape. You can also use some of the tools the VCs do to educate yourself about the startup landscape & specific niches within it (fintech, 3D printing, IoT, etc): CBInsights and VentureScanner.

• Get recommendations on top startups to join. Wealthfront also does a yearly career-launching companies blog post, and provides great criteria/methodology for how to choose among one of these organizations.

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Want personalized career guidance? Take a look at my Career Strategy Session options.

Why it’s a great time to look for a job in tech in 2022

(Photo Credit @jasongoodman_youxventures)

You might be wondering - should I take this leap? Am I really interested in pivoting to a career in tech? How can I feel more confident in making this move?

It’s ok to wonder - in fact, it’s a smart move to think about the reasons you are making a change.

(This is actually a great skill to develop to work in tech - challenging your assumptions...more on that later.)

Here are 3 insights to help you understand why it’s a great time to be looking for a job in tech (Updated for the 2022 Job Market Outlook):

1. There is considerable growth in all kinds of jobs in tech companies.

• As you can see from the first chart, the number of net tech jobs is increasing year over year (despite the pandemic, or in response to it).

• Chart #2 dispels the myth that all of the available jobs in tech are related to coding — in fact, 43% of jobs at tech companies fall into the ‘non-tech’ category!

• And chart #3 shows that there is long-term growth in the tech industry so if you pivot now, there will still be many jobs for you to occupy for decades to come.

CompTIA Cyberstates 2022 Report

CompTIA Cyberstates 2022 Report

2. Tech values many of the same things you do

Me using my Google Glass to think extremely hard about the students I worked with every day

• If you are someone who values creativity, innovation, dynamism, flexibility, navigating ambiguity, and data-driven decision-making, the tech industry is for you! 

• Core values are a driving force behind a company’s day-to-day activities and are an essential building block for creating culture. As you look to transition into tech, start looking at the core values expressed on the website of your potential employers, and see if they resonate with you. 

• When I started working at Google, I loved the core value “Focus on the user, and all else will follow.” I appreciated that by listening and focusing on the needs of the person in front of you, big strategic decisions would naturally become clearer.

3. Tech companies have really great compensation and benefits packages.

For many people, the first thing that comes to mind with ‘tech company perks’ is the image of the ping pong table. It’s an iconic representation of the benefits that come from working in tech…but it’s not nearly the most important one.

Instead, here are 3 key points on the money side of things to consider when looking at working in tech:

1) Depth & Breadth of benefits options: Take a look at all of the benefits that are standard for some of the largest tech firms, like Google, Facebook, Adobe and Salesforce. Some of these benefits packages can be valued upwards of $20,000 each year!

• https://www.techrepublic.com/article/12-tech-companies-with-impressive-benefits/

• https://tech.co/hr-software/best-companies-employee-benefits-perks

• You can use this tool to compare the benefits offered: https://www.levels.fyi/benefits/

2) Flexibility with Remote/Hybrid Options: Tech companies are also more able to support remote or hybrid working options. The number of technology and IT jobs offering remote work has boomed by 77% in two years, with more than a million tech roles offering hybrid or WFH options in 2021.

3) Higher than average salaries: Tech also has a significantly higher median wage than the national median wage.

CompTIA Cyberstates 2022 Report

These are just some of the great reasons that you should consider a job in the tech industry. Reach out to me if you’d like to discuss how we can work together to help you pivot into a great new career in tech!

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Want personalized career guidance? Take a look at my Career Strategy Session options.

Interested in working with a small group to support each other during your tech career pivot? Check out the Digital Orchards Fellowship.

Identify & Learn From Tech Connections

(Photo Credit @katekalvach)

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April 29, 2022

Job Search Strategy, Pivoting into Tech

(Photo Credit @aaronburden)

INTERESTED IN JOINING THE DIGITAL ORCHARDS FELLOWSHIP TO HELP JUMPSTART YOUR TECH CAREER PIVOT ALONG WITH A SMALL COHORT OF AMBITIOUS INDIVIDUALS?

JOIN THE WAITLIST HERE: DIGITAL ORCHARDS FELLOWSHIP

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I hope you’ve enjoyed reading this ‘Pivoting into Tech’ series as much as I’ve enjoyed sharing it with you. Over the past few days, we’ve focused on setting goals, making space, and managing your current job. Much of that was focused inward, on prepping yourself and your loved ones for an impending change. Today we will direct our energy outwards and instead focus on how and why it’s important to speak to people who work in the tech industry very early in your search process. 

1. Start with people you know & trust

   • Try and learn from trusted connections about the new industry you want to move into. While it’s also very important to do your ‘book learning’ to gather info about an industry, you also want to hear about an industry directly from the people working in it. 

   • They can tell you what is overhyped in the media, and what is spot-on. They can share tips on what to highlight in your resume and on how to get in the door at specific companies. These initial connectors are often a treasure trove of information and you should treat them as important resources. And because you know and trust them, the barrier to starting your outreach is much lower (especially for those who are not big fans of networking). 

   • Make sure to stay in touch with these initial helpers throughout your search (as they are the ones most often to be forgotten after one call).  

2. Identify 3 friends/connections who work in tech

   • The rule of 3 appears in many places (including survivalist training and writing principles). And so I’m applying it here in networking too. 

   • Start with 3 people. That’s all. It’s a nice small number that gives you a varied enough perspective on tech, but isn’t an overwhelming task to speak to ‘everyone you know’ in tech. 

   • Look for people who are in roles and companies you are considering. Try to aim for connections who are at or just above the level you are seeking, as their information will likely be the most relevant. 

3. Widen your circle of contacts

   • Don’t have those 3 connections, or want to broaden your tech network? Think about how you can leverage your current network to make introductions on your behalf to those who do work in tech. Try to find others who share common interests besides tech as it will help you overcome the cold of an initial outreach. 

   • LinkedIn is an amazing discovery tool to help you find people. Did you know that you can use the filters to search specifically among the connections of one of your connections? It’s incredibly useful to use if you have that one friend who knows everyone (but can’t pluck names out of thin air). 

   • You can also use filters or keyword searches to search for potential connections who share the following: fellow college alumni; past company colleagues; live in your area; share hobbies or interests; have the same country of origin, etc. 

4. Ask for their guidance

   • When drafting a good tech networking email, it should start with who you are & your connection to the recipient. You should let them know why you reached out to them specifically, not just a generic message you cut/paste to everyone. And it should include a few open time blocks or a scheduling link to help make it as easy as possible for someone to decide to give you time.  

   • Reach out to tell them you’re considering a move into tech and would appreciate their advice on how to get started. Maybe they made the same move you did? Maybe they work in the area you are fascinated with?

   • Schedule informational interviews to learn why they work in tech, what you need to know about company cultures/operating styles, and the skills needed for your target role(s). Make sure to write up questions in advance and order/prioritize the list. We’ll use the information you’ve gathered to help develop your specific tech career search strategy. 

   • At the end of every call, ask if they have 1 person they can connect you with to learn more about tech. And then make sure to follow up with that person!

5. Keep track of your networking!

   • This is the number one thing that many job seekers underestimate in importance. Tech recruiters are ridiculously busy & overworked these days - and most don’t have time to network. Instead, you want to engage with people in the functional roles you are considering. 

   • Your network is vitally important to your success in getting your resume reviewed! And so it’s also important to keep track of your success with networking outreach. 

   • Check out this post for a great personal CRM tool to use! And then keep track of your networking stats/ratios. You want to know how many cold emails you’ve sent, how many converted to conversations, and in future, how many offered to make referrals. Tracking these stats will help you determine what to tweak in your networking approach as well as mitigate rejection frustration when some don’t respond. 

Learning from people who work in the industry is a really important step that many career changers skip. I often hear job seekers say they don’t want to ask dumb questions, so they opt to go straight for resume editing. If you approach it in the right way, informational interviewing can provide incredibly valuable insights that will help you better target your search and help you grow the relationships that will help you succeed in your new company/role. 

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