Managing Your Personal Brand—Create the Vision
| Part One
October 2008
The last three Executive Connections ezines of
2008 (October, November and December) will focus on the process of
reflecting on and planning for your personal brand development in 2009.
We're including exercises in each ezine to help you navigate this process.
THE GOAL is to create by the end of the year an actionable PERSONAL BRAND
PLAN that you can begin working as soon as the new year begins, so that you
can jump start the process.
What is your vision for your personal brand for 2009?
Where are you going? What concrete steps/milestones can you set (and
achieve) that will build your personal brand and take it to the next level?
This is definitely time for taking stock of your parent company/holding
company. Are you in the right place for the long-term? Or, are you
tolerating a senior leadership team that is not a match with your personal
values? In the rapidly changing global economy, this is about being in the
right organization (for you), so this is one of the first issues to address.
This is also a good time to reflect on your position, duties and
responsibilities, and how you can kick things up a notch. If you are the
president of your business, what's required to move up and get the CEO
title? If you are the CMO or COO, what's required to get to the president
role? One thing is clear: If YOU are not thinking about this and creating a
pro-active plan for making this happen, probably no one is.
It may be that you are lacking some experience or credentials to make you
eligible for promotion in the eyes of the BOD or senior management. If that
is the case, what's your strategy for actively gaining new skills and
experience? How will you "manage up" and communicate your "wins" and
accomplishments in order to get the recognition you need?
Perhaps in a more basic way, how would your results be different in 2009 if
you were performing at a higher level? What does this look like and how can
you reorient your priorities to accomplish breakthrough results early in
2009 that will catapult you to the next level?
These are some of the questions I hope you are asking yourself as you
prepare for 2009. What's next for you? How high is up? And what are the
three big imperatives that will move your personal brand forward?
We invite you to download our
"Managing Your Personal Brand" worksheet here and take some time to
complete it. Doing so will provide a framework within which to work on your
personal brand plan for 2009.
If you would like to reprint this article in your ezine, blog or website,
you have our permission to do so as long as it is accompanied by the
following information: Author Jeff Gundersen is CEO of Executive Connections
LLC, a firm that specializes in building powerful executive teams in the
direct marketing, financial services, marketing communications and branding
sectors through executive search, leadership coaching and business
consulting services. © 2008 Executive Connections LLC.
Unwanted & Disconnected Ex-pat
September 2008
 UESTION:
I have been GM and CMO of the largest CPG-branded business in Latin America, and I have spent the past 15 years traveling from Europe to Asia to Latin America for one of the top 10 global advertisers (major CPG company). My company recently advised me that they have decided to replace me in my current role with a "local" hire, so they can improve the morale and opportunities of the “best and brightest” local grown talent.
As an ex-pat who has been away from the U.S. most of my career, I am feeling a bit lost since I have been out of touch and not kept up my personal connections with search consultants and other marketing contacts. How do I go about organizing a personal search? I think it’s time to check my other options.
~Unwanted & Disconnected Ex-pat
 NSWER: Dear Unwanted & Disconnected Ex-pat:
Seems that you are disconnected in more ways than one, and your company’s sudden change of ex-pat policy has finally gotten you to raise your head up from the desk and ask yourself some important questions. Am I really great at what I do? Am I current with the role outside in the marketplace? Why am I not being considered for another position within the compan(ies) if I am so valuable? Where am I going with my personal brand after 15 years on the same track?
You have an opportunity to view this as a healthy time to take stock of where you are and what your true potential is (here or somewhere else), and to set some specific career goals for the next five to seven years. You are approaching the prime of your career, and these next five to seven years will be the pivotal ones in determining whether you attain your top career goal, as it would be harder to make a move five years from now.
We recommend you take total inventory and immediately launch a 360 review of key former bosses, peers and subordinates to get real feedback on how others view you as a person and your performance potential. Unless you look outside now and decide whether it is best for you to stay or go, you are likely to stay another couple of years longer and water down your personal brand in this company, without knowing whether they are committed to helping you achieve your long-term goals and ongoing wealth creation.
Now is the time to make smart choices. It’s the time for straight talk everywhere. It’s the time for becoming aware of how you view yourself and how others view your future potential. And it’s the time to guide your personal brand to the most exciting future career direction, even if it means a change of category or company.
Bottom Line: It is time to re-evaluate where you are vs. where you want to be. Put your helmet and seat belt on, create the direction and road map for your next move, and step on the gas!
P.S. Make a solemn oath to yourself that you will continue to expand your contacts and build your personal brand by staying connected, no matter what role you are in or where you are!
How Fast to Move in a New
Position
July 2008
UESTION:
I am about to begin a new regional CMO position and I am not sure
how hard to push (changes) at the beginning. My boss says come in, take a
couple of months to get to know how things are done, acclimate to the
culture and then put your strategy together. While I want to respect his
ideas and thoughts, I'm not sure if this is the best approach. What's your
advice for the best way for me to start this new position?
NSWER:
One thing we know for every C-level role is that the clock is ticking
from the day you accept the position, even before your official start date.
As the new CMO, you need to begin immediately gaining input and insight
about the company's competitive position in the marketplace, customer
acquisition/retention trends, branding, integrated marketing strengths and
weaknesses, and other key aspects of the marketing mix. In other words,
start doing your homework now, so that you are over-prepared.
With CMO tenure averaging 22 months, waiting any length of time to put
together your agenda sounds like a death warrant. As soon as your name is
announced (as the new CMO), everyone will be listening and watching what you
say and do. If what they hear is silence, this will be the kiss of death, as
they will not know that you are "following directions" from your boss. You
were hired because of key attributes that enabled you to achieve specific
measurable results in prior assignments. Apply these attributes and prepare
a presentation before you start that clearly communicates your vision,
values and metrics for approaching the CMO role. Also lay out a clear
timeline with key milestones so that everyone knows up front when to expect
certain key changes to be decided and announced.
Create a written transition plan including an assessment of each of the
positions and incumbents in the organization you are inheriting. Plan the
work, then work the plan. By the 90-120 day mark, you need to have achieved
several "early wins" so the organization can begin to see and feel the
momentum you are building.
Bottom line: Creating specific measurable results early on builds trust!
Good luck in this new position!
Helpless in the Financial Meltdown
June 2008
UESTION:
My current employer eliminated my position less than a year after
recruiting me away from a competitor. With so many layoffs in my industry
sector, I feel I will have to accept a significantly lower compensation
package in order to find work before my severance runs out. In fact, I
already interviewed for a position one level below my current executive
rank, and I was offered the position at a compensation level significantly
below my current compensation. Finally, my current employer has offered to
try and find a similar executive position for me, but I am so angry about
being laid off I am not sure I want to stay here. What should I do?
~Helpless in the Financial Meltdown?
NSWER:
Dear "Helpless in the Financial Meltdown,"
Our first suggestion is not to let the current economy disempower you, or
make you feel or decide your personal brand is "worth less." Jumping to the
conclusion that you will never find a similar (paying) level opportunity is
only setting you up to live into this reality. It will cause you to dupe
yourself into jumping into the first opportunity that presents itself, even
if this opportunity is one to two notches below your current executive
level.
Despite the slowdown in the global economy, the cream still always rises to
the top. Your personal brand was desirable enough for your current employer
to headhunt you from a direct competitor less than a year ago.
In this short time period, ask yourself instead, what has changed to make
your personal brand worth less? We suggest nothing material has changed, and
we are bullish that (with the right career transition plan) you will find a
similar or better career opportunity (versus a job) within a six- to
nine-month period, assuming you put the right marketing plan in motion now.
You have spent your career up to this point building the value of your
personal brand. Do not allow the meltdown/fallout from the sub-prime lending
mess have you decide that it's time to sell your personal brand at a "fire
sale" valuation. Be patient, persistent and strategic, and explore all
internal and external opportunities, at the same or higher executive level
only, and we project you will be rewarded for your efforts.
You earned the right to have a high regard for your personal brand...do not
water it down!
Turnaround President without Time for a Personal Life
May 2008
UESTION:
I am the global president of a consumer products company, and I
have been turning this business around and restoring it to profitability
after a few-year period. My current problem is the CEO, who is an
entrepreneur and someone who insists on my working seven days a week,
including coming into the office for the day on Saturdays and meeting him
for weekly dinner meetings (our weekly update) on Sunday evenings. I really
have no (personal) life. What should I do?
NSWER:
Dear "Turnaround President without Time for a Personal Life,"
First start by asking the question, what do you really want? What is the
real truth here? If all your demands are met, then what? Will that be
enough?
Is the problem the CEO, or is it that you are thinking differently about you
and what your needs are?
We see this happen a lot. You train your environment, (Board, CEO, direct
reports) to interact with you in a certain way, and this becomes the "norm"
behavior. You seem to have reached the point of "this does not work for me
anymore" or "it is time to take my personal and professional brand to the
next level." You want to make a shift, and this issue seems to be the signal
that it is time to make a MAJOR change. If you let this go on, resentment
will build and work, productivity and health start to diminish. Things from
here can start to get ugly.
The good news is that this situation has been created by you, and you can
change it. However, there is also a team responsibility, and it will take
two to make the shift. Unfortunately, one of the "persons" (your CEO) may
not want to see that happen.
To begin, do your personal homework. What do you want to be different? Are
you being compensated according to the work you are doing? What works and
what does not work for you any longer? Know what you want. Have a
conversation about change. Set new boundaries. Ask for what you want. You
have allowed the CEO to cross your boundaries repeatedly to the point that
he feels this is normal behavior and everything is fine. How do you
communicate your message powerfully so that you both can make adjustments?
Start from where you are and make a plan.
You need to establish strong boundaries with the CEO at this stage, given
the improvements in the business. For instance, take a stand that you will
no longer be working on Saturdays or meeting him for weekly dinners on
Sunday evenings, and that you need to start a new process. All of your
business dealings will have to be conducted between the boundaries of normal
business hours Monday through Friday. Put that stake in the ground and then
hold the line. If he responds badly, you know he is basically asking you to
leave because his values and yours can never be aligned.
Clearly, at this stage, we feel you have nothing to lose. You either have to
change this dynamic or find something that is more aligned with your goals.
You definitely have the credibility of having turned around the business, so
it's doubtful the CEO will want to see you leave, but it's not clear whether
he can personally make the change.
Good luck and keep us updated...
Caught in Sub-Prime Crisis
April 2008
UESTION:
I am running a global retirement services business for a major
financial institution, and we have had two rounds of layoffs as a result of
the sub-prime financing debacle. My direct reporting organization, which had
more than 70 people, is now under 50 people. We have had to cut into the
bone…the "fat" was all cut in round one. How do I maintain the morale in the
rest of my organization, given that the bottom seems to have fallen out?
NSWER:
This is a time when you need to work on personal, one-to-one
relationships with top income producers. You need to "show the love" and go
above and beyond to let people know how valued they are.
Also, you need to handle relationships with those people who were cuts "into
the bone" in a manner that keeps the door open for some of them to return.
In general, this is the time to show your human and personal side. Let the
key people know you think of them as family; show you care for them on an
individual, one-to-one basis.
This crisis will pass, and you want each and every one of these people to
view you as a mentor and a trusted advisor. For the top producers you had to
cut, help them with connections so that they remember you on the way out.
Leave the door open to their possible return once the business turns around.
CEO Merged Out
March 2008
UESTION:
Based upon a major digital marketing services acquisition by our
holding company, I have been recently merged out of my CEO position
responsible for the digital agency I helped build from the beginning. I have
a great relationship with the CEO of our holding company and am still
working 24X7 on many new business pitches. Our CEO says I am highly valued;
however, the role they have offered me is a senior staff position, and I am
not sure this represents career progression for me. Should I hang in there
or begin looking for new opportunities?
NSWER:
Most agency professionals spend their entire careers rising through the
ranks to get a line operating role (i.e., CEO, president) with P&L
responsibility. Being merged out will sometimes happen at the CEO level; it
just comes with the territory.
Ask yourself the following questions:
- If I am really valued, what is it about me that I have been merged out as
the CEO?
- What straight conversations have not been had that I need to have?
- Is this a step up or a step back in my career? Is this really career
progression? Or career regression?
- Will this non-executive position hurt my opportunities to find another
CEO/leadership position?
- Does this career move affect my personal brand positively going forward?
- What are the costs and benefits of staying in my current role? Does one
outweigh the other?
- What is important to me right now?
In our opinion, this is a backward move and not a positive career move for
your personal brand. You are entitled to exercise the “change of control”
clause in your contract, negotiate a severance package and create a timeline
for moving on. If you have built one digital business, you can certainly
build another one. And with the digital sector growing at 15-20%+ compounded
growth rates, there should be plenty of demand and opportunity for you to
find a challenging, and personally (and financially) rewarding, position.
Run, don’t walk, to the door. Start by making the mind shift to move on and
create an exit strategy, NOW!
Going Over My Boss's Head
February 2008
UESTION:
How do you suggest finding the right level of balance in attempting
to partner with executives whom you know do not have the right answers, but
their bosses do. At what point and how do you suggest escalating,
particularly when they are outspoken about not going above them?
NSWER:
First of all, I want to acknowledge the frustration you must be going
through, even if most of it is self-inflicted. What I am picking up
here is that you are "attempting" to make this situation work, but that
there is not really a full-blown commitment. I like to tell it straight and
think that just might be the answer here: It's up to you to create the type
of workplace in which you do your best work.
How to do that? There are several considerations. Start by having a
conversation with each of the executives you're referring to, one at a time,
and tell them the truth. Pick a neutral place to communicate your message
powerfully, and always come from a place of speaking about yourself, not
about the other person. Tell how you feel about the situation; get it out in
the open. They likely feel tension in the relationship, as well, and this,
hopefully, will create a place where you can come to some sort of
compromise.
Realize that if you want a better work environment, you will need to do some
work. I always tell myself, if something is not working 100% the way I want,
what do I NEED TO DO TO CHANGE IT and make it work? Think about that. What
is it going to take from you to make a difference? What is this negativity
doing to your personal brand, your confidence and your overall ability to
lead powerfully?
Bottom line: If you are not getting your needs met, if you are not
succeeding in your job because of true incompetence on the part of these
executives, if you truly cannot effect any changes--then you must seek
counsel or create an exit strategy. Hopefully, the head of HR is your friend
and/or you have a senior leader in the company within whom you can confide.
Do whatever it takes to create success, both for you, the company and,
ultimately, your direct reports.
Final message: If you do not handle this here and create a positive outcome,
whatever that is, it will come back in another form in another position in
another job.
Here are some additional questions for you to consider: Are you aligned with
the values of your company? Is this position the right fit for you? Are you
ready to move on and this is just one more thing that is bugging you? Have
you past your "by when" date? Do you, for the most part, enjoy the culture
of the organization? Is how “they” are leading not aligned with the values
of the company? How long will you suffer and complain about what is not
working? How much of your time is spent on thinking about how you are
smarter than they are or how incompetent they are? Are you on target to meet
or exceed your goals for the year?
Now reflect on your answers.
What do you think you would do if you could do something to make this
different? What outcome do you clearly desire here? What is it you truly
want? Is it to make “them” wrong and you right, or is it to work together
more powerfully as a team of leaders. Remember: "Be the change you wish to
see," as Gandhi said. It starts at the top.
Doing It All" and
the Fast Track
January 2008
UESTION:
I am a Global Account Director working for a major NYC agency. I
love the client and category I work in, and have enjoyed my rapid career
progression over the past 12 years. However, my ability to manage my
work-life balance has deteriorated. I now have two young children, I travel
40% of the time (mostly abroad, which means these are long trips), and my
husband has a demanding career. So while I have live-in help, it is a
challenge for us to find the time we need for each other and for our role as
parents. Plus, managing a global business, I find myself answering e-mails
daily until 1 a.m. and constantly being available for conference calls
between 7-9 a.m. What could I do to address these imbalances?
NSWER:
As a high achiever, who has been on the "fast track" of promotions and
personal development, you could definitely use some support. Seems like your
work load has increased and your personal life tasks have increased, but you
are still operating using an "old" system. First, congratulate yourself that
you are not in total burnout--YET! And acknowledge yourself for being
self-aware enough to know you need help to avoid crashing. Begin to make the
necessary changes by making a new contract with yourself. How about
establishing some new boundaries as a start?
Simply put, boundaries are the lines in the sand that you and other people
may not cross, no matter what. Start by defining your #1 boundary: What is
acceptable behavior and what is not? (Hint: answering emails at 1 a.m.?) A
boundary statement would look something like this: I will leave the
office--and leave my work at the office--every day at 5 p.m. (since I start
at 7 a.m.). You have to be bold in what you want and what you don't want in
your life. People will not like it in the beginning because there is change,
but they will respect you. You may even become a role model, helping them
alter their bad habits, as well.
Also, ask yourself, "Where am I not saying 'No' or over-scheduling myself in
a way that creates conflict with having a normal work-life balance?" What
does work-life balance look like for you? You can change these things
immediately (for the better) on your own and you can empower your executive
assistant with guidelines that keep you from being scheduled at times that
are a conflict with your personal life. You can also set limits personally
on how late each evening you will answer or check e-mails and how early in
the morning you will be available for conference calls. These are part of
the boundaries you need to establish for yourself so you do not end up
resenting the way your job infringes on your personal life (which it is
now).
Next, in terms of the global travel, you are obviously well-established and
well-respected within your agency and by your client. One of the questions
you need to answer for yourself is, "Who else can I send in my place to
attend various global client meetings, so that I can reduce my percentage of
travel from 40% to 20-25%?"
Finally, even assuming you can make some of these changes, a global account
director position in a top-tier agency may no longer be the ideal career fit
as it was 10 years ago before you were married with young children. At this
stage, after 12 years with the same agency, it is definitely time for some
personal brand planning. If you could work anywhere else, even possibly on
the client side, what other career path options would be inspiring to you at
the present time?
We highly recommend you set up a support structure for exploring new career
opportunities. This might include: working confidentially with an executive
coach, enrolling key friends and colleagues to assist you in making new
introductions, and updating your resume and connecting with relevant search
firm contacts. Make a commitment to a process of evaluating your personal
brand and your career goals, including exploring other career options
outside of your current agency career path.
Good luck and keep us posted on how you are doing in (1) making changes in
establishing boundaries and (2) setting up a support structure for
evaluating new career path opportunities.
Repatriating to the
U.S. after Global Assignment
December 2007
UESTION:
Thanks for placing me in a global marketing position in financial
services. This has been the best job in my career, and for the past four
years, I have been working in a regional marketing position in Asia that has
been very entrepreneurial and successful. My career challenge currently is a
desire to return to the U.S. How would you advise me to tackle this since I
have not kept up with many of my past connections while I have been gone? -
Stranded in Asia.
NSWER:
This is a common experience we hear from executives on "ex-pat"
assignments: they fail to follow up or keep in touch with their personal
networks and, over time, these connections atrophy. So now you find yourself
feeling isolated in a foreign region with no passport home.
The lesson for everyone here is the importance of maintaining regular
contact with your social/business network, whether you are abroad or have
moved domestically to a different part of the country. Just as it is more
cost-effective to market to an existing or previous customer, it is likewise
easier to gain referrals and introductions during a career transition from
existing business colleagues and friends than from cold calling a lot of
people who have no knowledge of your current personal brand.
Fortunately, we remember (and are advocates for) your personal brand
equities, so we can collaborate with you immediately to connect you to
senior executives in the U.S. who are hiring or who can refer you to
appropriate opportunities. That's part of the good news. The other part of
the good news is that you have succeeded in your global marketing efforts,
and we are living in an increasingly global marketplace, where China and the
Asia-Pacific region are key long-term growth targets for U.S. companies.
The primary reason many senior executives flounder in their search efforts
is because they grossly under-target the number of contacts it will take to
find the right next position. Because you don't currently know who the right
target companies are for you, you will need to re-connect and re-engage with
at least 100 friends and business "advocates" like us, to powerfully enroll
these people in your current job search. Rebuilding or re-establishing a
personal "Power 100" list in the U.S, is part of Job 1. This should include:
1) other search firms that have placed you successfully, 2) former boss(es)
and colleagues, and 3) senior leaders in key branding, marketing and
advertising associations.
Approximately 45% of positions will be obtained through the executive search
community. So, of course, you need to research which search firms (large and
small) in the U.S. can help you and contact them directly (by e-mail with a
copy of your resume attached). You also need to know that more than 40% of
new senior-level positions are obtained through personal connections and
direct initiative. So as an experienced senior marketer, this is your time
to look at the long-term prospects in various categories (i.e., healthcare,
telecommunications, financial services). Select 40-50 target companies you
would like to work for, and then figure out how you can connect with them
powerfully to gain an introduction at the right level in the organization
(i.e., through an existing member of senior management, through a member of
the Board of Directors, etc.).
Finally, from a logistics standpoint, while you can do a lot of research
from Asia, you will need to plan two to three trips over the next six months
to the U.S. so you can meet personally and interview at companies with
opportunities that match your skill sets and interests. Also, meet with
senior people in the operations of U.S. multinational corporations in your
region, and enroll some of these people on your behalf in connecting you
with their senior counterparts in the U.S. All of these approaches are
likely to be more effective than simply writing a letter to the HR
Department.
Displaced During Restructuring and Downsizing
November 2007
UESTION:
"I am a global CFO at an advertising agency in a major U.S.
city. As a result of my efforts toward restructuring and downsizing this
global network, I have succeeded in restructuring myself out of a job. Since
EC placed me in this position, how can EC support me now as I navigate the
job market? How can an EC coach be beneficial to me at this stage? My
references from my current CEO and the CFO of our holding company are
excellent. I have also worked previously in the digital marketing services
sector, so do you think I should focus on large agency networks or private
equity for my next career opportunity? -Displaced CFO"
NSWER:
This is a situation we are seeing repeatedly these days affecting
top-level CFOs who either restructure or merge/sell themselves out of a job
within a two- to five-year period. The good news is you have done an
exceptional job in restructuring this global agency business, so this short
two-year stint has further enhanced the value of your personal brand. You
also mentioned that you protected yourself well with an appropriate
severance package, so this gives you the time to be strategic in your
approach to your current job search.
In terms of the large agency networks, you should continue to speak with
this sector, since you have proven credentials--and this category is facing
major changes and restructuring, which can leverage your skill sets. Plus,
many of the CFOs in this category have not demonstrated the ability to
restructure a business, nor to establish appropriate planning, budgeting and
control systems to effectively manage financial outcomes in the face of
surprises that destroy the credibility of CEOs running these networks.
Having worked in a digital business previously, and having succeeded in
building and selling a major digital marketing services business, you have
to ask yourself this personal brand question: "Where will I get the best
personal brand valuation over the next five years of my career--working for
private equity or for one of the public agency networks?" Our feeling, as we
wrote about in our recent ezine article "Are You Ready to Work for Private
Equity?" is that the returns may be significantly higher in the "right"
private equity opportunity than they are likely to be working for a
publicly-traded advertising agency network. Since you have proven you can
succeed in either environment, we suggest you focus a significant part of
your search efforts in speaking with private equity firms. We expect you
will see some terrific digital and mobile business opportunities on the
horizon where you can create significant market capitalization gains for
your brand and the organization that hires you over the next three to five
years.
In terms of how EC coaching can support you, we provide a unique blend of
executive search and executive coaching services. So, in addition to
providing our executive coaching support, and acting as your advisor in
weighing and evaluating various job opportunities, EC can also act as your
"talent agent" and strategically target and introduce you to several of our
clients and connections who may be interested in hiring you. Our commitment
for star talent (especially those we placed previously) is to function like
an "agent" to help you connect powerfully to our CEO connections and to
identify new personal brand opportunities.
Sales Incentive Program
Change Means Less Income...What to Do?
October 2007
UESTION:
"I am one of the top sales managers in my company and I have
just been advised the company is changing the sales incentive system (to
create one new sales incentive system for the entire company). While this
may be very positive for most people, it will not be positive for me, since
I have been one of the highest producers in the company for several years,
and this has given me leverage to make my own deals on the side with the
president of the company. I am feeling this may be a time for me to leave,
since the new commission structure will reduce my income significantly over
previous years. What should I do."
NSWER:
As one of the top producers in the company, you are an established,
known entity, and I am guessing the company is certainly not interested in
(1) driving you out of the company, or (2) creating disincentives to have
you end up less motivated to sell.
My question to you is: How can you utilize these changes, and your political
capital in this company, to create something positive for yourself? For
example, perhaps this is the time to go into senior management and ask for a
large raise in your base salary. What are three other alternative requests
you can make?
As one of the top producers, you have proven you are well above the norm in
terms of production. A significantly higher base salary may provide you with
some other benefits (i.e., making sure your basic monthly cash flow exceeds
your current family living expenses), which will give you the peace of mind
to focus on ways to take your personal performance to the next level.
However, if you feel the new company management is being disingenuous in
their dealings with you, this is certainly a time to reassess if you want to
move your personal brand across the street to work for one of the
competitors. Or perhaps it is a time for you to look at other categories or
sectors where you can transfer your sales and sales-management skills,
especially if you have signed a non-compete agreement with your present
employer. If you still feel energized by the senior management of your
present firm, and you share a common vision for future growth, I would
figure out what to ask for to make this sales compensation change a
"win-win" opportunity. If you feel the opposite, it is time for you to
polish up the resume, create a transition plan with a timeline and begin
marketing your personal brand in a different direction.
ASK OUR COACH bottom line: Now is the time to be overly prepared to
negotiate. Give them a great experience of why you are one of their best!
President’s Company Selling
– What’s Next?
September 2007
UESTION:
"I am president of a 50-person marketing services company,
recruited by the CEO 15 years ago and given an equity stake. We have built
the business up and now our company is being sold. I am realizing it will
soon be time for me to look for another job. Where do I start? For instance,
I have not prepared a resume in over 15 years."
NSWER:
After almost 15 years with the same organization, you are now about to
begin a new chapter in the life of your personal brand. You could jump right
in to something new, however, this is an ideal time to step back, "breathe"
and ask yourself some important questions that will guide you to your next
career opportunity. Prepare so that you can "attract" the right opportunity,
not chase after something you might later regret. And I say career
opportunity, because your next position will be a great opportunity, if you
do the work it will take up front.
As you begin to evaluate your personal brand, ask yourself questions such
as: How do I want to be known? What do people say about my leadership style?
What are my beliefs, values? What connections do I have in the marketplace?
Which marketplace? How many more careers do I have in me?
Another line of questions to follow starts with: "What type of business do I
see myself in over the next five to 10 years?" If your answer is to find
another position in a similarly sized marketing services firm, then ask
yourself "Where?" Do you plan/desire to remain in the same geographic
region, or are you open to/interested in a change of venue? Do you have the
resources to consult or do you want to tap into your entreprenurial talents?
What are your vacation needs? What hours do you want to work, and do you
want work from your home office more? What are your long-range personal
goals (get your handicap up to par, spend more time with your kids, create
more financial freedom, etc.)? These are all important considerations.
A resume is just one element of working on your personal presentation. How
do you look? How do you feel? How do you dress? How do you present yourself?
What changes and upgrades do you need to make before putting your personal
brand on the market? Consider getting a new wardrobe, a personal makeover, a
personal trainer, a speech coach. What does your personal brand need to
raise the effectiveness of your initial impressions?
In our experience, companies/agencies the size of your current firm rarely
utilize outside executive search consultants to identify a president or
other senior officer positions. So the likelihood is that you will not only
need to develop a resume, you will need to target and solicit meetings with
companies you identify through personal research and connections.
Of course, I would recommend engaging an executive coach, someone who can
work with you on your transition plan and provide you the support and
connections you will need to manage this upcoming change process. Also, a
coach will tell you things that your "Yes" men would never tell you, which
can lead to some very interesting conversations and changes you may need to
prepare for.
Oh, and by the way, you may want to include your family in this next
decision. Chances are, they will have great input and their own agendas,
which can make your decision much easier.
Happy landing!
Personal
Brand Development
August 2007
UESTION:
I know I need to network more to support my long-range goals. However, I work long hours in my current position, and when I'm not working I'm spending much needed time with my family. I don't seem to have enough time to invest in my personal brand. What advice do you have for a marketing exec like me? Where do I begin?
NSWER:
First call of business is to assess where you are now and define where
you want to go. Along the way, you will want to focus on building on your
strengths and delegating your weak areas. However, creating a personal brand
development plan is the most critical first step.
To create a personal brand development plan, you must first address
questions such as these:
1. Where do I see myself personally and professionally in five years? Where
do my family and I want to live? Income goal? What job titles and
responsibilities, do I aspire to hold?
2. How long do I see myself staying within my current category/industry
sector? Am I passionate about what I am doing? Is this position aligned with
my values? What alternative industries/professions are attractive to me
long-term?
Once you have addressed these big-picture questions, begin to clarify your
personal brand development priorities by answering the following:
- What (business and marketing) technical skill areas and experience (e.g.,
general management, managing a P&L) am I missing or in need of
strengthening?
- What are the opportunities within my current position for obtaining these
key knowledge areas through "on-the-job" training?
- What is my company's current policy regarding financial support for
ongoing education?
- What other learning programs (university degrees, e-learning,
conferences, executive MBA, etc.) would be beneficial for increasing the
value of my personal brand?
- What is my committed learning agenda for the next 12-24 months?
Here are some more suggestions:
- Be visible internally and externally.
- Create a transition plan; either way, there will be a transition.
- Continue to build rapport and credibility internally with your Board
members.
- Begin to identify other potential organizations and CEOs who are inspiring
to you, personally, and begin to explore your outside options.
- Identify your career progress, and connect with search firms specializing
in your industry and functional specialty.
- Identify high-level speaking engagements and conferences you can attend,
plus articles you have been meaning to write, and begin working on these
types of initiatives.
While all of this might end up being only a "contingency plan" (in the event
you bond with the new CEO), the worse that can happen is that you will be
over-prepared. And you will not regret starting sooner if things turn out
the other way once the new CEO is named.
My CEO Resigned - What Do I Do?
July 2007
UESTION:
The CEO who personally recruited me two years
ago just resigned to accept a CEO position with another company. An interim
CEO has been named, and I expect our company will start an external search.
I am doing well with the branding initiatives I am leading. However, I am
uncertain about my future. Since I have no way of knowing whether the new
CEO's vision for the business will be aligned or different than the CEO who
recruited me, what advice can you provide for me? What should my next move
be? Do I begin looking outside for another position? Since I am only there
two years, how will that be perceived to potential new opportunities?
NSWER:
First, let me say that one of the reasons for the short
tenure of Chief Branding Officers and Chief Marketing Officers (average 22
months) is a change in their relationship with the CEO. We have seen
numerous examples of CBOs and CMOs who are performing well--then their CEO
gets changed out and the new CEO coming in either (1) changes the strategy
and direction of the business, or (2) wants to bring in his/her own team.
While you are certainly performing well as a Chief Branding Officer, you can
be even more certain that a change is coming.
How can you maintain certainty in an uncertain environment? Be prepared, as
there is no doubt you will be balancing lots of balls: transitioning to the
new incoming CEO, staying on course with the "old" plan, keeping your staff
motivated and focused, staying true to your values, balancing your personal
with your professional life. Begin with YOU. Part of your plan should be to
look at the future of your own personal brand, what is important to you, and
to set priorities.
Here are some more suggestions:
- Be visible internally and externally.
- Create a transition plan; either way, there will be a transition.
- Continue to build rapport and credibility internally with your Board
members.
- Begin to identify other potential organizations and CEOs who are inspiring
to you, personally, and begin to explore your outside options.
- Identify your career progress, and connect with search firms specializing
in your industry and functional specialty.
- Identify high-level speaking engagements and conferences you can attend,
plus articles you have been meaning to write, and begin working on these
types of initiatives.
While all of this might end up being only a "contingency plan" (in the event
you bond with the new CEO), the worse that can happen is that you will be
over-prepared. And you will not regret starting sooner if things turn out
the other way once the new CEO is named.
Replacing
Founding Principals
June 2007
UESTION
1: How can we go about replacing one of our
founding principals who also served as our Executive Creative Director?
--CEO of a direct marketing agency in the Midwest
NSWER:
Of course, it is a formidable task to replace a legend (i.e.,
Ray Rubicam, Young & Rubicam; David Ogilvy, Ogilvy & Mather). In fact, many
times the challenge seems so daunting you hesitate to even begin the
process. However, especially in the case of an Executive Creative Director,
it is important to the life-blood of the agency, and its clients, that you
as the CEO move quickly to identify a talented Creative Director who is a
match for the agency's values. This may be an ideal time, rather than
bringing in a big, different Creative ego that might disrupt the agency, to
find a young up-and-comer who is talented and ready to step up and produce
for an agency like yours. Especially since your agency has a niche serving
non-profit and spiritual clients, the values of this new person are critical
to match up with your agency's team and key clients. We suggest involving
and enrolling your communities in the search process, exploring candidate
suggestions from many directions and assimilating this into a final
decision. We also suggest setting everyone’s expectations at an appropriate
level--including the new Executive Creative Director. Nobody (immediately)
fills the shoes of a legend; the new person will need to take the time to
build and establish his or her own reputation.
Search For The Right Successor
June 2007
UESTION
2: How should I approach the search for a Chief
Marketing Officer (CMO), considering I want this individual to be capable of
becoming President and then CEO (and replacing me) within two to three
years?
--CEO of a direct-response financial services business
NSWER: From the outset, you must recognize, and have others on your
Board of Directors recognize, that you are searching for more than just a
qualified, capable CMO. Many outstanding CMOs have also demonstrated
successful general management skills, and you definitely need to select
someone who has successfully run and successfully built a business
(hopefully similar or greater in size than yours) with P&L responsibility.
Treat this search like you were searching for a new President or CEO now and
you will find yourself focusing on the right long-term talent acquisition
solution that can provide you the succession planning you want from Day 1.
Executive
Development
May 2007
UESTION
1: What has been your experience providing executive coaching to an
executive who is being passed over for a promotion but is still viewed by
the organization as a high-potential employee? What are the impacts of
coaching on the long-term retention and promotion/development of the
executive?
--EVP, Human Resources of a regional bank
NSWER: We can definitely say the impacts are positive, both in terms
of employee retention, as well as subsequent promotion and development. In
two recent instances, both in financial services, clients asked us to coach
high-potential executives who were not promoted when SVP-level positions
opened up. The clients were concerned these executives would leave if they
did not get the current promotion(s), and they also wanted to send a clear
message to each executive that they were willing to invest in their future
development to help prepare them for promotion in the next cycle. Both of
these executives have remained within the organization (two+ years), and one
of the executives is about to be promoted to an SVP-level opening. So we
would say definitely we see a positive correlation when organizations
provide an executive coach to high-potential executives.
Changing Categories – Hire an Executive Coach?
May 2007
UESTION
2:
I am considering changing categories. What is the value of hiring an
executive coach to help me figure out how to maximize the value of my
personal brand?
--CMO, real estate company?
NSWER: In the turbulent marketing world we are living in, where CMO
tenure is less than two years (actually 22 months on average), successful
CMOs need to apply the same marketing analytics, strategy and diligence in
managing their personal brand as they have in managing the brand of their
current (real estate) company. Personal brand planning is more essential
today than ever. The involvement of the right career coach, preferably one
with branding and marketing expertise, can make the difference between a
shorter-cycle, highly productive search and a longer-cycle, less-productive
process. Executives can sometimes grossly underestimate the effort and
connections needed to get their personal brand effectively in the
marketplace and on the radar screen of CEOs in the new categories/sectors
they are interested in pursuing. While 50% of new opportunities at the
C-level can be expected to come via executive search firms/consultants, the
other half come through personal connections with Board members and senior
officers of organizations. So, marketing intelligence and a diligent process
are required for success. Remember: what's at stake is maximizing the
personal brand value of your next executive assignment. We recently shared
this advice with a CMO earning $1.1-$1.2 million annually who is considering
investing in hiring a personal coach. We also suggested that she hire
herself a coach and have the company pay for it, since there may be/are
opportunities for her to expand her role (i.e., COO) within her current
company.
Protection and Incentives upon Change of Control
April 2007
UESTION
1: What protection and incentives can the parent company be providing to
me and my senior management team upon a change of control, i.e., sale or
merger?
NSWER:
If the management team has been in place and critical to building the
business (value) for more than 5+ years, it is customary to expect
incentives as follows:
- One to two years base salary payments, upon successful sale of the
business.
- Accelerated vesting of stock options.
- Severance payments of 12-24 months, if the position is eliminated under a
change of control. In some cases, there might also be “retention bonuses”
utilized to provide a lump sum payment (i.e., 6-12 months salary) for
staying on through a minimal period of six months after the completion of
the sale transaction.
Career Moves / Opportunities
April 2007
UESTION
2: What challenges do I need to be aware of at
this stage of my career in moving to a client-side opportunity?
NSWER: If you have stayed on the marketing services side for more than six
or seven years, at some point client-side opportunities will tend to
discount your ability to transition from the services to client side. Many
times, client-side hiring authorities view marketing services candidates as
“too narrow,” e.g., only focused on the creative/campaign management side of
marketing and lacking skills internally required to manage the broad
logistical elements of launching/delivering new products and services.
|
