You’re 60 Conversations Away From a New Life Role. Here’s Why.

For many of us, a new year brings new resolutions and maybe a few new goals. And this year? Well, let’s just say I think the events of 2020 have inspired many of us to reassess how we live and work.

Numerous people have contacted me this month, asking if I have any tips for exploring a new life role. Some are interested in a career change for lifestyle reasons; others have been forced to transition due to economic challenges. Whatever the reason, everyone wants to know how to approach their exploration efficiently, thoughtfully and creatively.

My advice? I call it the “6 steps and 60 conversations approach”. Here’s how it works…

It all starts with your top 20

Research shows that most people have twenty key relationships (KRs) spread across their personal and professional lives. These are the most important, impactful people you know and trust. Asking them for their opinion on how to identify and land a new life role is a great way to kick-start your exploration. Someone who has had different experiences, cares about you, and genuinely wants to help can open your eyes to new directions you may have been reluctant to pursue or perhaps never even considered. 

These twenty initial conversations typically lead to at least twenty other net new contacts your KRs think you should speak with. After these additional twenty conversations, plus plenty of time for reflection and research, circle back with your original twenty KRs, and let them know how things went. That will put you at sixty conversations in total. And at that point, you should hopefully be able to identify a few new lanes to explore, have some preliminary career criteria to screen opportunities with, and be able to draft a paragraph describing what you want out of your next career, who you want to work with, and so on. 

 6 tips for a successful career exploration 

Sixty conversations is a lot, I know. Here’s how to ensure you get the most out of the experience.

  1.  Know and build your network intentionally. I find new life roles tend to emerge directly or indirectly from one’s existing network, plus those peoples’ networks. Even when it’s your own business build, 80% of it will consist of current relationships or be just one degree of separation at most. So, don’t wait around for the phone to ring. Validating your existing contacts and expanding their reach will be a real asset to you.
  2. Enjoy the process. And remember, these are just conversations. Be respectful of people’s time and know this is a journey. It will take some time. Some doors will not open, and some emails will go unanswered. 
  3. Know it will be an adventure. There will be highs and lows. Finding your new life role is like climbing a mountain, except you don’t know where the peak is. That’s okay. It’s there, hidden by the clouds, but you’ll climb through. The good news is on this mountain, just one relationship can end up being an escalator!
  4. Take notes. Review, journal, list out key people you’ve met over your professional career who are now influencers. Ask your existing network who they recommend as leaders for you to meet. Then discern if you have warm introductions to reach out to them. Try creating a wish list of the leaders who are a stretch to meet and why you want to meet them (their values, fun to work with, etc.).
  5. Start now! Journal your summary of you, what you bring to the table and what you’re looking for next. Review your summary with a few key mentors, and then start setting up early intro meetings. Yes, Zoom is not as great as in person, but it doesn’t matter! Just start.
  6. Have your elevator pitch ready. Ensure it aligns with your personal brand, CV and LinkedIn details, so it feels natural when delivering it. Doing so will help significantly during your sixty conversations. Remember, these conversations are practice, and your pitch may evolve based on the feedback you receive. 

I hope you find this approach helpful. I know myself and many others have. Good luck in your exploration and remember, YOU are the single biggest factor when it comes to finding that new life role.

The Mentor-Mentee Relationship: 6 Tips for Success

Chatting with some friends last week, the subject of reverse mentoring came up. I was surprised to hear so many of them still view mentoring as a one-way relationship. You know, a Yoda/Luke Skywalker type of thing where the wise, older master teaches their young apprentice the ways of the world. 

I see it very differently. In my experience, mentorship, like friendship, is a two-way street. The benefits work both ways. In his talks on mentorship, author Simon Sinek touches on this, noting “the healthiest relationships are balanced relationships where both people show up to give and both people show to learn. . .The way trust is established is by both parties demonstrating that they make time for this, that they take it seriously, that they are willing to invest, and they are willing to take risks.”

I couldn’t agree more with this sentiment. So much so, it’s become one of my six golden rules as a mentor.

Wayne’s ‘6 Golden Rules’ of mentorship

Jack Welch, the former Chairman of GE, always spoke of the importance of having many mentors. That we should “grab valuable pieces from different role models.” I took this advice to heart, working with numerous mentors over the years. Each relationship brought something different and special to the table. But I find my most rewarding ones have been those that keep the following in mind. 

  1. Agree at the outset that you will make a conscious effort to learn from each other. Every single one of us has an opportunity to impact another life and learn from each other. 
  2. Be clear about your routine and expectations. 
  3. Be respectful of each other’s time. 
  4. Fully explore the experiences offered in your conversations. Take risks, and don’t overthink it. 
  5. Keep in mind this relationship has a shelf life. Mentors aren’t forever, but the right ones can really make a difference.
  6. Remember, you are never too old to learn something new, and you are never too experienced to learn something from someone less experienced than you. 

One conversation can change everything 

I remember being in my twenties and telling my mentor that I wanted to do more in the community, and I wanted to learn from the best. Within five minutes, he was on the phone with Ruth Goldbloom, a Canadian philanthropist who co-founded the Canadian Museum of Immigration at Pier 21. And because of that one phone call, I was able to have the pleasure of meeting Ruth in person. She was such a force of nature, and I continue to benefit from what she taught me to this day.

As a mentor, you’ll wear several hats, whether consultant, counsellor or cheerleader. And I find the conversations lead to other value-added relationships. Just like it did for me with Ruth. 

 For example, I had a young mentee ask for my view of her attending a Harvard education program. There were more than a few challenges to consider. It was expensive and lengthy to complete. Plus, her employer was unlikely to support the endeavour.  

I considered what she was trying to achieve by attending and asked, “If you can’t go to Harvard, how do we bring Harvard to you?” This question led to her reaching out to both past Harvard graduates and current students living in her area. She met with many of them and developed, not one but four, valuable new relationships. All without the cost or time commitments she was initially contemplating. By speaking with me, she was able to look at her goals from a different perspective and build her own “Harvard in Halifax.”

The right person, the right time

“I am not a teacher, but an awakener.” 

– Robert Frost

 Finding the right person at the right time can truly change your life. Having a helping hand lift you up when you need it most can propel you to a place you simply couldn’t get to on your own. It’s about bringing out your best. 

Note: when selecting a mentor, I think it’s helpful when they’re not your boss. This doesn’t mean you can’t learn from those you report to, but I have found it’s just not the same given the power dynamic. 

When acting as a mentor, it’s important to remember that, deep down, many people know who they are and where they want to go in life—they just may need some encouragement and support to bring these realizations to light. You’re essentially in the “confidence game” when it comes to another person’s direction in life.

When people ask me how to ensure they’re a great mentor, I always recommend the following:

 Onward and upward, together 

“Tell me and I forget, teach me and I may remember, involve me and I learn.”

—Benjamin Franklin 

Over the years, I’ve experienced first-hand the inspiration and perspective gained through a mentor/mentee relationship. And now that I’m more often than not the “old fart” in the room, I’m even more aware of just how much different generations can learn from one another. Regardless of industry or experience level, an effective mentorship relationship truly helps both individuals in their respective growth, career direction and purpose. Whether it’s mastering new technologies, staying in touch with the world, or gaining diverse insights, I find I always gain as much as I give, and I’m very grateful for these relationships.

50% Chance Your (Business) Baby Will Survive

Yes – that is a terrible sentence to read or hear, but it is a prominent fact to consider when entrepreneurs look at the survival rate for their small business, which to many is “their baby.”

Statistics show that  20 percent of small businesses will fail in the first year, 30 percent  in the second year and only 50 percent will see their fifth year. Forbes also cites that only 50 percent of small businesses make it past year five and less than one third make it to year ten to tell their tale. 

 So,  with Venor just recently celebrating its eight year anniversary, this for me was a key reminder of how Venor is one of the successful ones. With consistent year over year growth, and now three locations, Venor has continued to serve its clients so they can be on the right side of this success rate. 

 Ian Sullivan, partner at Venor, discussed the early years of the company. “You definitely need resilience in your DNA. There were tough days for sure but we pushed through and lived our values. We believe in looking forward to Monday’s.”

 Quick Facts, Private Businesses:

 Want to have a Higher Success Rate? Follow These Key Facts:

 1. It’s All About You

 As an entrepreneur, you’re betting on yourself. Your courage to even start a business and your ongoing resilience to handle storms will be key. 

 I always have tried to bet on the “jockey” and not the horse when it comes to businesses. Finding that driven individual who is self aware enough to know they have blind spots, they may not have all of the answers but they are going to find a way to make things work.

 You need to know your “why”, the reason you have taken this road, the reason you’re passionate about having a business baby. 

 Entrepreneurs are big GSD folks – they Get Shit Done!

“Done is better than perfect.”

― Sheryl Sandberg

2. The Dog Needs to Want the Dog Food 

 Let’s talk market needs – someone has to want your product or service if you’re going to strive for success. Your offering has to name a market and a differentiation so that someone feels the need to purchase it or hire you.

 If the dog will not eat your dog food – then we are in for a pretty long day selling this dog food!

 3. Sales and Marketing 

 You or someone on your team has to know how to sell. Cash is a great score keeper of winning and with a highly consistent cash flow you can bet you’re in the lead. 

 Good marketing can amplify your voice to generate sales – great marketing can not only generate sales but also give your company a brand identity, a social media presence that has become an invaluable source for potential consumers, as well as helps you maintain a top of mind presence among competitors.

 4. Teamwork Makes the Dream Work

 “My model for business is The Beatles. They were four guys who kept each other kind of negative tendencies in check. They balanced each other and the total was greater than the sum of the parts. That’s how I see business: great things in business are never done by one person, they’re done by a team of people.”

― Steve Jobs

Think of your company as a bus, with you steering it.  Who you choose to go on this journey with you will trump a majority of other business decisions. The right people can fix a bad bus, the wrong people will put a good bus in the ditch every time.

 This means your mentors and advisory board too. There is a huge difference I see first hand with entrepreneurs that have quality mentors and/or private boards. The seasoned leader has been on broken buses, trains, planes and have still turned those into successes, they can help you navigate throughout this journey. 

 The self aware entrepreneur knows what they are missing and their ego can handle strong team members on the bus! Talent wants to follow leaders who know their “why” and share in that passion to change the world. 

 “If you want to build a ship, don’t drum up the team to gather wood, divide the work, and give orders. Instead, teach them to yearn for the vast and endless sea.”

― Antoine de Saint-Exupéry

 5. Focus and Measure

What you focus on is what gets done and life keeps score – so, let’s measure always. This is where cost control and keeping overhead down really matters. Know what your business fundamentals are in order to keep measure. 

 Ever go to a hockey game with no score board? What fun would that be. An entrepreneur needs their score board too.

 6. Innovate 

 Lifelong learning has always been a tell tale sign of the best. 

 It’s a self policing game where you evolve or die. Just because the business worked last week does not guarantee success next week. Stay on top of trends, market signs, move fast and act even quicker.

 “Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society – and especially in the economy – as doing something different rather than doing better what is already being done. That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganized. As Joseph Schumpeter formulated it, his task is “creative destruction.”

― Peter F. Drucker

So, a very Happy Eighth Birthday to Venor and many many more to come. It is great to see “the baby” grow up. 

 To all the entrepreneurs out there reading this, a Happy Birthday to whatever your milestone is today! It is small and medium sized businesses like us that have built and continue to sustain Canada.