This is the second in a series of articles about one of the perils of our economic times – finding yourself suddenly unemployed.  Unfortunately the recently released official US November unemployment numbers proved that membership has drastically increased by another 530,000 people, raising the overall national unemployment rate to 6.7%.  Ouch!  So for all you newcomers a quick summary of what we discussed so far.

In the first article we discussed the emotional rollercoaster people typically go through when faced with losing their job.  We learned the importance of acceptance to get us out of the past and start our progress towards looking ahead to tomorrow.  We talked about getting focused and goal oriented as a key to helping us move forward. 

We ended the last article with an easy homework assignment intended to breed some positive feelings and increase our overall focus, which was to start checking off some of the items on our personal “Wish I had time to…” list.  Hopefully you took the advice to heart and started working on your list items and maybe even had the joy of checking one or two of them off. 

In this article we’re going to get you started towards getting that next job by defining your career requirements.  This is a critical step towards your overall plan for getting that next job.   All good plans start with good requirements.  Your career plan is no different.

Getting Started

What are your requirements?  Is it strictly getting a job doing what you were previously doing?  Is it doing the same thing but in a different industry?  Or maybe it is doing something completely different in a different place?  Is it time to pack family and home up to move to your dream location?   Are some of your wants non-negotiable while others are nice to have?  What are you’re willing to trade off and what can’t you go without?  These are the important requirements to drive your career plan.

Until you establish your requirements you really can’t begin planning on how to get that new career.  Well you could but chances are you will end up very unhappy and possibly right back here trying to figure it all out again.  There is no better time than now to define  or readjust your career requirements and priorities. 

Let’s take a closer look at the likely important career requirements that will drive your plan.

Location

If you are considering relocation then this should be the critical path to your plan.  Relocation is the most expensive requirement both financially and emotionally to consider, you need to sort this out before you can build a plan.  The reasons for relocation are many and whatever your reasons you owe it to yourself and your family to do some real good homework before picking up and moving. 

You need to find out as best as possible if the target location (village, city or country) is a place you can happily live.  What is a reasonable salary there?  Do you rent or buy?  What neighborhoods are right for you?  It’s time to start searching the Internet about your target locations.  Check the Chamber of Commerce site, just about every town in the world has one.  Do general searches on the city, read online the local newspapers, read school reports, crime data, etc.  You want to get a feel for the place and to start identifying potential neighborhoods to live, the right schools, entertainment options, etc.  Think of your leisure activities that you enjoy today and make sure the important ones are available in your target relocation. 

Investigate the potential employers in those locations.  How many people are employed in your target field in that area?  How are those companies doing today?  Are they growing, shrinking or on the brink of asking Uncle Sam for some TARP money?

Once you have narrowed your search to a few areas it is time to take a road trip.  Don’t confuse this with a vacation.  You’re not off to see the tourist sites and eat in the best restaurants.  Instead you want to see the areas where you’re considering living.   Find a short-term efficiency apartment to rent where you can cook with the groceries you bought locally.  Do not stay at the 5-star resort next to the National Park!  Check out the leisure activities that you deemed most important to you.  If schools are important, then visit them.  If shopping is important then visit the retail centers.  Whatever you deemed important to your everyday living experience, then make sure you see it in your target neighborhoods.  Bring the whole family.  If you love it, but they hate it, then you’re going to have big problems down the road.

If you’re really serious about picking up family and moving then take your time and do it right.  I have a friend who wanted to move to Florida real bad.  After being let go he decided it was time to make that dream real.  He and his wife did all the homework, visited the area several times, found what they thought was the perfect spot.  He sold his house in NY, bought a new house on a canal in Florida, a boat and was ready for the good life. What he failed to do was include his teenage children in his research.  Well his kids hated the schools, hated the heat, and hated Florida.  In less than 4 months time his wife moved back to NY in an apartment with the kids while he stayed behind trying to sell his Florida dream.  True story.

Target Industries

If one of your requirements is to change industries then your plan needs to include some education on your target industries.  This can range from reading books, industry sites, and company sites within your target industry to possibly attending some formal training.  Basically what you need to know to make sure the industry change is something that you will be happy in.  Getting educated on your target industries serves two purposes – it helps you determine if you really want to work for that toxic chemical processing company and makes you better equipped for the interviews.

Also keep in mind that different industries can pay very differently for the very same skills.  Know what your target industry pays for your skills.  Here are some sites to help you find your value in your chosen industry:

• Salary.com
• Acinet.com
• SalaryExperts.com

Target Companies

Do you have particular work environment requirements?  We all do.  Some examples are a bright sunny building; open floor plans; I must have an office; flat management verses a very hierarchical structured; I need to be part of a team; I prefer to work by myself; flex hours; opportunity to work-from-home; I want an environment where everyone is in the office from 9-5 everyday; lots of travel; I never want to leave my desk; I want to work with internationals, etc.  Whatever your work environment requirements are it is important to make note of these and target companies that can meet your personal needs.  You might not get everything you want, but if you can get the more important ones then you will be happier in the long run.

Target Jobs

If you’re considering any type of career change then you need to investigate the range of roles within that new career.  What is the typical career path?  What is the role you want to eventually achieve?  How might you fit into the career path right now using your strengths and experiences?  Is there training that you require to get you started?  Understanding what you want, what you can do now and how you’re going to get from here to there is essential to your planning. 

If you’re satisfied with your current career path, then take a hard look at how you might improve your skills.  Is there a software language missing from your toolbox?  Is there a skill you’re strong at but never did get that industry-recognized certification?  Is there a skill that you’ve wanted to have but never had the time.  Well you have the time now so start investigating what’s missing and how to add it your personal toolbox.

Contracting

This path appeals to a lot of people who either want scenery changes every few months, or looking to gain lots of diverse experience in a short time. There are different ways of doing this.

You can either hang your own shingle out or work for a contracting firm, where the firm finds you your next job.   Don’t underestimate the time and effort involved in finding your next contract.  People who contract on their own typically estimate that each new contract can take 3 to 6 months minimum to nail down.  Some contracts can take far longer.  That is a lot of lunches, business meetings, etc, without getting paid.  And unless you don’t mind taking long vacations between contracts, then you’ll be doing this while working fulltime on your existing contract.  Some people thrive in this.  Some others fade quickly and return to full time employment.

Talk to people.  We all know contractors of one flavor or another.  Talk to both types.  Ask them how they like it.  How much effort does it take to get the next contract?  How do they find work?  How do they like working for a contracting house?  Talk and ask lots of questions. 

Contracting as an independent is also a nice way to ease you into running your own business and it is a far less risky option, as your only risk is time and not your life savings.  But if running your own business is your dream, then…

Starting a Business

For some people this might be the time to run their own business.  This can be done either by starting up your own business, buying an existing business or buying into a franchise.  If this is something you’ve been thinking about then you have lots of work to do.  You really need to take your time, do lots of research, talk to lots of people.  This is the most risky of all the career options, but also has the most upside of all options. 

Talk to people in the same business but far enough away you would not be considered a competition threat (tougher if you’re considering an internet business).  Ask them how they got started.  What went well?  What were the early pitfalls?  You’d be surprised how if you approach someone right how helpful he/she can be.

If you’re looking to start your own business from scratch then you will need to create a Business Plan.  Over 90% of all new businesses fail within the first two years.  The majority of these failures can be directly attributed to a lack of planning.

Your business plan should cover topics like:

• Define your product
• What is your market and what percentage of that market do you intend on capturing?
• What is your marketing strategy?
• Who is your competition?
• Define the ‘operations’ of your business
• What is the business projected financials (balance sheet, cash flow, break even point, etc)?

Once you have a plan, run it by friends, your accountant, a career counselor and other people who are running their own private businesses even if not in your area.  The feedback is all good and invaluable.  

If you’re considering buying a franchise or an existing business, still consider doing a business plan as it will help you sort out the positives and negatives of the business.  And most important – get a certified accountant to review the business’ books.  Make sure you know what you’re buying into. 

Here are some sites to help you develop your business plan:

• BizPlanIt.com
• BulletProofBizPlans.com
• BPlans.com

Take your time, be thorough in your planning and you will greatly improve your chances!

Summary

Identifying what is important to you, your career and your family are essential to putting your plan together.  Just like any software project, poor requirements only lead to lots of restarts, delays and potentially delivering the wrong product.

If you need more help in identifying your personal career requirements then try Richard Nelson Bolles’ excellent book “What Color is Your Parachute“.  Whether you’re looking for another job in the same career or a whole new career, Bolles covers the bases in a very easy to read book.  If you prefer more direct interaction than reading, I suggest you attend some workshops on career guidance.  There are several available out there, some even for free.  Start Googling and you’ll be surprised what you can find.

So get your career requirements defined.  Like any requirement list, prioritize them and start considering possible alternatives just in case you can’t fulfill some of them.  Your plan will require contingency and will likely go through some adjustments along the way.  If you can identify possible alternatives to some of your requirements then you will be able to change your plan more easily.

While you work on your requirements I’ll be starting the next article on putting it altogether in a plan.  And don’t give up working on your personal “Wish I had time to…” list.  Checking those items off is very rewarding.