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Week 321 | Personal Development, Leading & Managing Section | 2
Extractive summaries and key takeaways from the articles curated from TOP TEN BUSINESS MAGAZINES to promote informed business decision-making | Since September 2017 | Week 321 | November 3-9, 2023
18 Big Challenges Leaders Switching Careers Need To Overcome
By Forbes Coaches Council | Forbes Magazine | November 8, 2023
Extractive Summary of the Article | Listen
Career changes can be daunting, especially if you’re already a seasoned leader in one industry and are now making a midcareer leap into another. As many senior leaders who make a switch find, reconciling one’s extensive background with the unfamiliar territory of a new-to-you field can feel disorienting and, sometimes, overwhelming.
18 Forbes Coaches Council members discuss common challenges that more mature, experienced leaders might encounter when making a career, company or industry switch and how to effectively overcome these obstacles to thrive in a new space.
- Walking An Unfamiliar Path. The analogy we can use for a career is walking. During a career switch, you might move ahead and can continue walking with that sense of having made progress. You see different landscapes, but you know what they are. With an industry switch, you might move several steps back in your career. You will encounter new landscapes and might have to learn what they mean in the context of the new industry.
- Succinctly Communicating Your UVP. Packaging one’s unique value proposition and communicating it succinctly in ways that land with future decision-makers is the biggest challenge for career switchers. To stand out and compete against people who may be a more obvious fit on paper, the career switcher should prepare to explain how they are the right solution to solve the company’s challenges today.
- Rebranding Yourself And Reframing Your Strengths. One challenge to rebranding yourself within a new industry is that these switches may be something you have thought about but not planned for. Individuals need to rebrand themselves and reframe their strengths and UVP as a leader who has repositioned to the industry. Creating the runway matters, so volunteer in the new industry, ask for speaking opportunities, and so on, so that you aren’t restarting, but are instead building on an existing foundation.
- Navigating A Major Shift In Your Identity. A major challenge is the identity shift such a switch requires. Our identity is our understanding of who we are, our beliefs, values, experiences and roles. A switch as a mature, experienced leader can be humbling, as we have much to learn and understand in our new environment, so we’re often renegotiating significant aspects of our identity, letting go of some elements and embracing new ones.
- Embracing A Beginner’s Mind. Embrace “shoshin,” or what is known as the beginner’s mind in Zen Buddhism. It’s a concept of having a learning mindset, being open, being curious and taking in ideas from coworkers, bosses, trusted colleagues and key stakeholders. A beginner’s mind allows for discovery, curiosity and an expanded experience.
- Building Out A New Network.
- Building Self-Awareness.
- Stepping Out Of Your Comfort Zone
- Believing In Your Own Ability Do Something New
- Discovering New Approaches In A New Environment
- Adapting To An Unfamiliar Landscape
- Embracing How Business Is Done At Your New Company
- Accepting A Potential Reduction In Pay
- Facing New Challenges At A Ground-Zero Level
- Dealing With Self-Directed Ageism
- Facing The Unknown And Uncertainty
- Making Sure You Are Switching For The Right Reasons
- Staying Confident Without A Track Record
3 key takeaways from the article
- Career changes can be daunting, especially if you’re already a seasoned leader in one industry and are now making a midcareer leap into another.
- 18 Forbes Coaches Council members discuss common challenges that more mature, experienced leaders might encounter when making a career, company or industry switch and how to effectively overcome these obstacles to thrive in a new space.
- Their advices are: Walking An Unfamiliar Path, Succinctly Communicating Your UVP, Rebranding Yourself And Reframing Your Strengths, Navigating A Major Shift In Your Identity, Embracing A Beginner’s Mind, Building Out A New Network, Building Self-Awareness, Stepping Out Of Your Comfort Zone, Believing In Your Own Ability Do Something New, Adapting To An Unfamiliar Landscape, Discovering New Approaches In A New Environment, Embracing How Business Is Done At Your New Company, Accepting A Potential Reduction In Pay, Facing New Challenges At A Ground-Zero Level, Dealing With Self-Directed Ageism, Facing The Unknown And Uncertainty, Making Sure You Are Switching For The Right Reasons, and Staying Confident Without A Track Record
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Topics: Leadership, Career, Change