Tapping into the Hidden Job Market pt 4
I’m not a person who’s too quick to classify or categorize different types of people – although I readily accept that there are many types. I, myself, am one type and you, my reader, are another and so it goes. Some say we flock together and others maintain that we attract because we’re opposites. You be the judge.
However, for the sake of discussion about this next stop along The Hidden Job Market roadmap, I refer to a unique type of person who would be attracted to unearthing this particular type of non-typical, non-advertised position. An adventurist.
Remember, at your calibre, 80 – 90% of jobs are never posted. They open and close with hardly a whisper.
If you are a regular reader, then you know that my work centres on helping career people find their next C-level job. For those among this executive group who love one challenge to be followed by another, who are enterprising and gutsy, who have an entrepreneurial streak that begs to be satisfied, then lend me your ear!
Have you ever considered working with private equity firms or with venture capitalists? Are you “that guy?” (And by “that guy” I am not referring to gender – rather I’m referring to that state of mind.)
There is a whole world out there where investors buy companies that are in trouble. They fix them, and they sell them. Well, that is to say, they don’t fix them. They look for fixers to fix them.
Most of us are familiar with the idea of house flipping – yes? What I’m talking about is similar in concept – buy it, renovate it and sell it for a profit – but it’s different in every other way.
Okay. Let me explain.
Let’s create Moneybags Inc. Moneybags Inc. is a private equity firm. As such, they’re on the lookout. Always. They’ve watched Company W go from bad to worse. And yet, W is a great idea. Moneybags has done its market research and that research shows clearly that W should be a success. So, the honchos at Moneybags make the owner(s) of W an offer they can’t refuse. No! not The Godfather kind of offer…an offer. (They are called Moneybags after all.)
A deal is struck. Now, guess what Moneybags Inc. needs? They need you. You appear on the scene and say, “Hey, I’m your guy” (even though you may very well be someone other than a guy) because just like the private equity firm, you’ve been on the lookout too.
You want me to stop right here and explain just how it was that you appeared so conveniently on the scene. How? You read the paper, notice mergers, watch the growth or stagnation of companies, and talk to your centres of influence. You consider who you know and what they know.
A good portion of it is really you. That’s the kind of person you are.
Not only are you industrious, hard-working, enterprising AND have that certain entrepreneurial je ne sais quoi, you also love a challenge. And Company W is a challenge.
Another way this same type of person lands a living through the Hidden Job Market is to find Company W yourself and notice it’s floundering or even just not flourishing. With the same market research under their belt, s/he – better yet – you – go out and pitch the idea to investors at private equity firms. With the right approach, facts and stats, they come on board with the money.
You’ve got your eyes on the prize and that prize is to reshape, recalibrate, refurbish, regenerate the company and get it into its best possible state. When you’ve accomplished what you set out to do, one of two things can happen.
One: You can ease on down the road, happy to have been well paid, and, very likely, to have received a substantial bonus. The challenge was the calling and it was well met, expectations were surpassed, and your reputation is better for the experience.
Two: You are offered a permanent position. It could be that the offer is made at a particular time of your life and you find you can’t refuse. You say yes and everyone is happy.
These scenarios play out far more often than you may ever imagine.
I have successfully championed people of that certain nature who seize the opportunity to shake things up – to mastermind change. Whether it’s a new enterprise or the result of a merger, they love to roll up their sleeves and get right in there.
They measure their success by a boost in market share, the rebuilding of brands, the increase in sales, and the acquisition of new and retention of existing customers. Whether they’re called integration experts, change management experts, turnaround experts, or a glossary of other terms, they’re best described as interested in being interested. They enjoy being stretched and, let’s face it, they produce results.
I’m Maureen Farmer and I’m an awarding-winning, executive career strategist. If you see yourself in this article and want a one-on-one discussion about The Hidden Job Market and your next move, be in touch.