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Career Goal Setting: the How, What, & Why

Career Goal Setting: the How, What, & Why. Session Two of the Fall Series, Managing Your Career. Key Takeaways: Our “Goals” for tonight. What “Goals” are – and in particular… Career Goals. Why goals are necessary

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Career Goal Setting: the How, What, & Why

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  1. Career Goal Setting: the How, What, & Why Session Two of the Fall Series, Managing Your Career

  2. Key Takeaways: Our “Goals” for tonight • What “Goals” are – and in particular… Career Goals. • Why goals are necessary • how they help you manage your career “now, and for the rest of your professional career”. • How you set goals

  3. Goals: What are they? • Varied: There are lots of different types and/or definitions of goals… • Individual: Everyone’s goals are unique to them • Complex: There is no one single right definition or way to experience goals.

  4. GOALS: Definition “The result or achievement toward which effort is directed…” -dictionary.com • Implies movement; a process… a JOURNEY “… an aim… an end… a terminal point” • Implies an endpoint; a final DESTINATION

  5. GOALS Illustration – Steps on a Journey Guidepost Interim Landmarks Action Step Win the GAME Join local tennis team Win Local Title Win Wimbledon! Win the SET Sign up for tennis lessons Win Regional Title Perfect my backhand Win the MATCH U.S. champion Short Term Long Term Timeframe

  6. GOALS Illustration – Steps on a Journey Guidepost Interim Landmarks Action Step Get hired by client Submit B-school Application Finish MBA with Honors Finish 5 years in Strategy Consulting C-Suite! Short Term Long Term Timeframe

  7. Mapping Out Your Journey Guidepost Interim Landmarks Action Step • Begin with the end in mind Get hired by client Submit B-school Application Finish MBA with Honors Finish 5 years in Strategy Consulting C-Suite! Short Term Long Term Timeframe

  8. Mapping Out Your Journey Guidepost Interim Landmarks Action Step But… what if I don’t know my long term goal? Short Term Long Term Timeframe

  9. Journey Without a Guidepost Lucky! Likely Uh Oh!

  10. Long-term Goals: the Specificity Factor Guidepost Interim Landmarks Action Step Very Broad Do work that I feel has meaning… I can see where it adds value… and people respected me as a leader I want to earn enough money so that my family can enjoy a comfortable lifestyle Level of Detail/Specificity Senior leadership position in a mid-size company where I have direct influence over company strategy CEO of my own wildly successful Private Wealth Management Firm in New York Very Detailed Short Term Long Term Timeframe

  11. Long-term Goals: How to Set Them Ask Questions: of yourself… and others What‘s Inside (Self-Assessment) • What is important to me? What do I value? • Time, Money, Integrity, Altruism, Challenge, Variety, Ethics, etc. • How can I find heroism in my work? • What is my definition of “hero”. • How important are my roots… what got me here? • What did I want to be when I grew up? • What have I enjoyed/learned along the • What are my strengths? – Weaknesses? • How can I leverage strengths and minimize roadblocks?

  12. Long-term Goals: How to Set Them Ask Questions: of yourself… and others What‘s Outside (Research) • Functions • The type of work… role to fill • Industries • Content/context, product/service, customer • Culture • Nature of the work environment (e.g. collaborative, lone wolf, matrixed, heirarchical, decision-making process, etc.)

  13. Long-term Goals: How to Set Them Integration: identifying the intersection of… What’s Inside (Self Assessment) with What‘s Outside (Research)

  14. Long-term Goals: How to Evaluate Them When you have some idea of the long term goal, ask… Why… - am I pursuing this goal? - is this goal appealing to me? How does this… - honor my values? - leverage my strengths? - serve what I have learned about myself and what’s important? What… - keeps me from pursuing this?

  15. Long-term Goals: Other Resources • PT Career Resources Workshop on Self Assessment (Jan) • LCS2 – 360 Feedback • MORS courses (e.g. Managerial Leadership) • PT Career Coaches • Leadership Coaching course • CareerLeader on-line assessment • PT Career Resources web site: • Self-assessment section • Resources section (for research) • Plethora of readings/books

  16. Mapping Your Journey: Goals to Actions Guidepost Interim Landmarks Action Step Very Broad Begin with the end in mind Build in interim steps Work back to specific actions Ideals & Alternatives Level of Detail/Specificity Very Detailed Short Term Long Term Timeframe

  17. Interim Goals: How to Set Them Ask Questions: of yourself… and others • What’s possible? • What’s necessary? • What’s reasonable? • How have other’s done this? • What are some alternatives? • How does this leverage my past? • What are possible gaps… and how might I bridge them?

  18. Interim Goals: How to Evaluate Them Ask… Why… - am I pursuing this goal? - is this goal appealing to me? How does this… - honor my values? - leverage my strengths? - serve what I have learned about myself and what’s important? - get me closer to my longer-term goal? What… - keeps me from pursuing this?

  19. Short-term Goals: How to Set Them Ask Questions: of yourself… and others • What action can I take today/tomorrow to move in the direction of my next goal?

  20. Short-term Goals: How to Evaluate Them Ask… How does this… get me closer to my next goal? Are they S. M. A. R. T. ?

  21. Navigating Your Path: It’s a Process! Guidepost Interim Landmarks Action Step Very Broad Take the first step, then STOP! – Reflect -look back: what have I learned -take stock: where am I now -look forward: where do I go now Reassess/Revise Level of Detail/Specificity STOP Very Detailed Short Term Long Term Timeframe

  22. Navigating Your Path: Flexibility Guidepost Interim Landmarks Action Step Very Broad The importance of FLEXIBILITY… … so you can make choices Strategy Role in Banking I love my marketing classes! Who knew? !! Level of Detail/Specificity Get into B-school ? Major in Finance Very Detailed Short Term Long Term Timeframe

  23. Navigating Your Path: Flexibility Guidepost Interim Landmarks Action Step Very Broad The importance of FLEXIBILITY… … so you can make choices Strategy Role in Banking I’ll take more marketing classes and if I still like it, I’ll add a Marketing major. Level of Detail/Specificity Get into B-school Major in Finance AND Marketing Very Detailed Short Term Long Term Timeframe

  24. Navigating Your Path: Flexibility Guidepost Action Step Interim Landmarks Very Broad The importance of FLEXIBILITY… … so you can make choices Strategy Role in Banking ? Now that I’ve been promoted in my banking industry job… I’m not sure it’s a good fit for the long term. Level of Detail/Specificity Major in Finance AND Marketing Get promoted New MBA job at a bank Very Detailed Short Term Long Term Timeframe

  25. Navigating Your Path: Flexibility Guidepost Action Step Interim Landmarks Very Broad The importance of FLEXIBILITY… … so you can make choices I think I’ll leverage my finance background and training in marketing to switch industries Level of Detail/Specificity Strategy Role in a CPG company Get promoted Finance role at a CPG company Very Detailed Short Term Long Term Timeframe

  26. Navigating Your Path: Flexibility Guidepost Action Step Interim Landmarks Very Broad The importance of FLEXIBILITY… … so you can adapt to external circumstances My company went bankrupt… I just lost my job… the economy’s in a recession… jobs are scarce! Retire in Tahiti and play golf every day Level of Detail/Specificity Become the leading turnaround firm Start my own Turnaround consulting business Very Detailed Short Term Long Term Timeframe

  27. Navigating Your Career: Complexity Guidepost Interim Landmarks Action Step Very Broad The fallacy of straight line progression The danger of assuming next steps Success v. Perfection Level of Detail/Specificity Very Detailed Short Term Long Term Timeframe

  28. Summary: Key Points • Goals provide a path for your journey… directions and guidelines to keep you focused on an outcome. • Goals can be short term steps or long term visions… and milestones in between • Goals can be specific or broad – related to timeframe: • Short = specific; long-term can be broad • Begin with an end in mind, and work back into action steps • Stop, reflect, assess, adjust, continue on purpose • Flexibility/adaptability – focusing too narrowly or lacking any focus can become roadblocks. • Complexity – no right or predictable journeys

  29. Upcoming PT CMC Events • Upcoming Fall Series, “Managing Your Career” Events • Nov. 10th: Daniel Porot Event • Nov. 12th: Session Three: Promote Yourself from Within • Winter/Spring Career Development Series • Questions? Email: ptmba-careerservices@kellogg.northwestern.edu Call 312-503-8385 to schedule a coaching appointment

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