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Jim Citrin Leadership by Example

Jim Citrin, Leadership by Example

Making the Best Transition

by Jim Citrin

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Posted on Monday, June 9, 2008, 12:00AM
I've recently spent time with a number of people who have made or are making transitions. I don't want to sugar coat it. Whether you lost your job, sold your company, or relocated as a trailing spouse, transitions are difficult. Let me acknowledge upfront that it's far easier to give advice about how to make a successful transition than it is to actually do it. But here is my advice nonetheless, organized into four concrete ideas:

Start Preparing for a Transition Before You Need to

While most of his New York Giants teammates were consumed with training during the football season and enjoying themselves during the off-season, Carl Banks was hard at work laying the foundation for his post-football career. A member of the NFL 1980s All-Decade Team and two Giants Super Bowl championship teams, Banks was preparing for a multi-faceted business career by the time he retired in 1995. While still a player, Banks got training in broadcast journalism and started work as a pre-and post-game analyst for WFAN, a New York radio station.

In my recent interview with Banks he said that most players would have shied away from commentating on a game in which he had just played. But not Banks, who has always been comfortable calling things as he sees them. His experience and the exposure as a player broadcaster led to Banks' ongoing career an analyst on Giants telecasts and as an NFL commentator on Sirius Satellite Radio.

Banks also parlayed his relationships in the League to get a shot as an official NFL licensee. He got mentored in the apparel and logo sportswear business by a proven industry executive and then developed and implemented a business plan to manufacture and market team logo leather jackets in partnership with a major licensing player. Today, Banks says that his company, G-III by Carl Banks, is the fourth largest NFL licensee.

Other tactics for similarly planting seeds now for a transition later are to: 

  • Join a corporate, not-for-profit, school, or community organization board of directors to expand your professional network and provide the opportunity to demonstrate how you think, communicate, and interact with people.  
  • Become active in your industry association to develop valuable relationships outside of your company while still being loyal to your current employer.
  • Speak at conferences; write articles in your industry's trade press; find creative ways to become known as a thought leader in your sector.
  • Help others in transition by giving courtesy interviews and providing good advice, recognizing that what goes around comes around.

    Take a ‘Step Back' to Gain Perspective on Your Situation

    I want to contrast two executives, both of whom were recently let go from their employers after a culture clash, to illustrate how important it is to gain perspective on your situation before moving forward. Michael was the president of a cable television network and a member of the parent media corporation for the past 20 years. Joy was the head of business development for a global luxury products company. When I met Michael, just a week after his departure, he was eager to pursue the presidency of a new cable network that was being launched. In terms of relevant experience and track record he was an exceptional candidate. But in our discussions he could scarcely conceal his anger and he wasn't able to articulate sound lessons learned from what transpired.

    I concluded that Michael simply was not ready to be a candidate for the position. Joy, however, having been out of her company for two months, more than personified her name. During the previous two months she was able to get perspective by speaking with a number of her former colleagues to get their input as to what happened. She went for long walks and replayed the history of her tenure. She even wrote a letter to herself to verbalize what happened with the fit issue and lack of chemistry with her boss. As a result, Joy was evenhanded about her situation and was neither defensive nor sugar-coated in how she articulated the story. More importantly, she was able to put forth what she learned from the whole episode. Joy is therefore ready to move into a new situation and is an attractive candidate for a range of important positions.

    Apply Your Experiences in New Ways

    You've had a good run. Unfortunately, despite your best personal efforts, you can't stem the sliding fundamentals of your industry. Whether you've spent your career in music, newspapers, steel manufacturing, or video rentals, even the most talented employees are being pushed out. The best defense in a situation like this is to critically assess your skills and strengths and figure out how to apply them to a new and different business in which they are valued as a means to growth.

    One global chief marketing officer of a major hospitality company, for example, used to work in the dial-up Internet access business. How did he "escape" from an inexorably declining business into a completely new field? First he analyzed which industries were driven by the same customer acquisition, retention, and data-base marketing fundamentals that drove his prior experience. He concluded that the hotel industry, with its frequent guest programs and still relatively nascent online direct marketing capabilities, was the ideal place in which to apply his skills and experience.

    He made a target list of 25 hotel companies, both major chains and boutiques, and mapped out the key executives, including the CEO, chief human resources officer, and marketing staff. With that expanded list, he worked his extended relationships and various social networks to get the best possible introduction to these people. When he was able to secure a series of meetings, he was able to offer a cogent argument of how he could take his expertise to help them succeed in their business. In so doing, he transcended being a job-seeker and instead became the solution to hotel companies' trickiest problems. Then once one company became interested in him, others suddenly became even more interested and competitive juices being what they are, he ended up getting multiple offers. Sometimes you can make this happen on your own, but oftentimes you'll need to find someone in a position of authority who is willing to give you a shot.

    Figure Out What Really Gets Your Juices Flowing

    John Pepper, chairman of The Walt Disney Company and former CEO of Procter & Gamble, once gave perhaps the best and most succinct career advice: "Figure out what you love to do and find someone to pay you to do it." The first step to pursue this strategy is to get beyond the obvious and identify what subjects, product areas, or industries really stoke your passions.

    One proven technique to help with this is the "kitchen table pile" exercise. Here's what to do: Collect a bunch of business magazines and newspapers for about two months. Sit down at the kitchen table to go through them and tear out anything that strikes a chord. Don't over-think it or ask yourself why. Just put what you've ripped out into a folder. When you're done, go through the folder and separate your selections into piles, one for each area of interest. Inevitably, patterns will emerge. The tallest piles will be those things that genuinely interest you. Now all you have to do is figure out how to follow the second part of Pepper's advice - find someone to pay you to do it! For that challenge, see steps one through three.

    How you handle the transitions that will inevitably be thrust upon you over the course of your career is one of the greatest determinants of your long-term career success and personal satisfaction. Think about how to prepare and execute transitions in a way that creates the most attractive and most compelling opportunities for you and you will be far ahead of the field.

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    27 Comments

    Showing comments 6-27 of 27<< Previous
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    • Yahoo! Finance User - Thursday, June 12, 2008, 10:42PM ET  Report Abuse

      • Overall: 3/5

      Openmind66 needs help. A sad case of the "poor me" mentality. Hopefully he/she won't reproduce and pass it on.

    • dave h - Thursday, June 12, 2008, 11:58AM ET  Report Abuse

      • Overall: 5/5

      One of the best advice columns I have read on Yahoo in the past 3 years. This really gets me thinking about things I could be doing to improve my career over the long run.

    • Dan - Wednesday, June 11, 2008, 8:33PM ET  Report Abuse

      • Overall: 1/5

      Words that come to mind to relate this so-called advice would be garbage, manure, and certain four letter word that starts with C and R. First to relate a retiring NFL player to ANY average person losing their job, is not only plain garbage, but it only shows why this country is turning closely into a Third World Nation. If this is supposedly Financial Advice, then Penelope Trunk would be up for a Nobel Prize for Literature and Business (and compared to Jim Citrin..that is an understatement). But for all those 5 stars out there, if you think you have been covered from the recession, then boys/girls, in the words of Ronald Reagan, "you ain't seen nothing yet." Because when you push out all the boomers, who were about the only thing keeping the U.S. economy afloat, there is nothing left, and like god made little green apples, the last shoe of this economy will basically drop, leaving only folks like Buffett, and Gates laughing you billionaire wannabes in your McMansions, as you drive away with all your possessions for the nearest parking lot for you long winters nap. Not even that Rogue Pilot from Arizona, named McSame will be able to deal with it. He'd be sitting in the White House looking stupid like Elmer Fudd, saying...which way will I go..as this country sees a downfall equivalent to Herbert Hoover's administration. You'd think you idiots would think that Bear Stearns would have made you smell the coffee, now it's Lehman Brothers. What next? Maybe your job next? Your turn is next...and you brag about your plan?? Once LBJ once said one day as he was driving through New Jersey, when he saw a bum on a street corner, he told an aid that "Even the richest person can wind up like that bum on the street corner...even you!" The Great Depression made alot of people who were high and mighty, into beggars and panhandlers, losing everything including their shirt. Remember that the next time HR Director talking about people who lose their jobs, and telling them, find something you do and get people to pay you for it. Remember that when you go to bed each night...and ask your self..."Am I so imune, Am I so safe??" I think back to all those who have been that callous in my life, and wish for them to feel the way I did. I'm waiting...and thanks to the Bush Administration...my wishes are coming true. Who knows...if you elect McSame, it may be you too...who someone is wishing to see you suffer the effects of this recession (soon to be depression..), and you might think about this when you layoff your next employee. Greed is only good when you are immune from someone else's greed. If you aren't a millionaire now, guaranteed, greed will have it's way with you! So remember...your time could come too. Are you ready? Are you immune? If you aren't...we are waiting for you...and guaranteed...we won't be so...professionally understanding! EARTH TO YAHOO: Memory serves me right, this is supposed to be Financial Advice, not a blog for the egotistical, and narcissistic society. Your day is coming too...when Yahoo is history. Either by a buyout...or bankruptcy due to an economic downturn that renders the internet out of reach of the millions affected by the depression.

    • Yahoo! Finance User - Wednesday, June 11, 2008, 2:11PM ET  Report Abuse

      • Overall: 5/5

      fuel for thought

    • Manoj - Wednesday, June 11, 2008, 1:06PM ET  Report Abuse

      • Overall: 2/5

      Transition is the game of life. I think you may stressed out more when you don't transition. This is because you feel you need to transition but don't want to come out of comfort zone. Time and Transition are synonyms. Struggle never ends. Yes you can take break here and there but you have to struggle. Even if you are successful, has millions , still you end up struggling. I think when the people accept this then they may get less whinny.

    • Yahoo! Finance User - Wednesday, June 11, 2008, 11:37AM ET  Report Abuse

      • Overall: 5/5

      Good, simple, direct, advice that can be extrapolated for many instances of career transition. Thanks for the information. Many get lost in the negativity of the situation. As one door closes, another opens.

    • K - Wednesday, June 11, 2008, 11:22AM ET  Report Abuse

      • Overall: 3/5

      I have been through a number of transitions in last 10 years due to company closing, mergers, bad boss and project cancellations. One thing I learnt that you need to forgive people for their wrong actions that caused your job loss. Sooner you forgive and get rid of the anger and negative feelings it will be much easier for you to move on with your new life and look for new opportunities. Take a break, do an assessment of your skills, what you love to do and what the market is looking for. Talk to people, attend seminars to gather info about new opportunities. Explore within yourself to figure what you like to do and how you can add value to a company. Stay focused, define your point A and point B and make a map of how you will go from A to B in what time. If there is a gap between what you can do and what the market is looking for take some classes or small jobs that will help you reach your goal. Passion, right information and right connection are the key. Here are the steps: 1. Figure out what you are passionate about and how it can add value to a business. 2. Do research (Internet, books, classes, seminars, talk to people) to find out what the market or a business needs. 3. At the end a business is all about people. Network and connect with right people and market yourself. You can network through friends, recruiters, seminars, alumni, ex-coworkers, school, church, anywhere you can. 4. Stay positive, stay healthy. Sun always appears after the rain.

    • ShaniqaP - Wednesday, June 11, 2008, 11:16AM ET  Report Abuse

      • Overall: 3/5

      Three stars. "Good." Relevant. I read some attitude advice recently that's also relevant to the fear of losing your job: "I was looking for a job when I found this one." (Lee Morgan II, in "The Reaper's Line.")

    • Yahoo! Finance User - Wednesday, June 11, 2008, 10:50AM ET  Report Abuse

      • Overall: 2/5

      The advice is ok, but the examples are far out. Yeah, prepare for your job loss, by getting credit protector, making a budget, etc, but get real, millionaire sports figures and top level execs are hardly the type of people most unemployed can relate to. And they can sit back and live off their assets anyway. So goody for them, they prepared for jobs they didnt need anyway.

    • Yahoo! Finance User - Wednesday, June 11, 2008, 10:10AM ET  Report Abuse

      • Overall: 5/5

      Jim is right: getting over a major upset in ones career takes time, sometimes much longer than you realize yourself. My company went into a bad bankruptcy (Chapter 7) and it impacted my self-value a lot and for a long time. An interviewer for a VP position told me nearly 3 month after it happened that I'm just "not ready" for filling the opening they had. At the time, that didn't help me get over the situation but today I believe he was right. Overall good advice.

    • Joel - Wednesday, June 11, 2008, 8:59AM ET  Report Abuse

      • Overall: 5/5

      Come on, folks -- what an embittered, slanted, negative group you are. Anyone could call this bad advice that isn't worth following: tell me what we could do better! And I mean DO: not pray and have faith. Those two are important as well, but without works... I have followed steps like these in two transitions now, and they have worked very well for me. I got some great new ideas from the article as well -- thanks for keeping the informative articles coming! Some people cry about the rain, others go out and buy an umbrella. The Personal Finance ratings area could use a few more umbrella-buyers and a few less cry-babies.

    • Yahoo! Finance User - Wednesday, June 11, 2008, 8:47AM ET  Report Abuse

      • Overall: 3/5

      Much better advice than we usually get from Jim. The advice for preparing for a transition is what is in every business and career magazine and newspaper. I disagree with the assessment of the two executives. Sure the person is bitter but it's nothing a new challenge can't cure. Must be nice for an executive to take some "me" time. I know when I was out of work for a year, it wasn't considered a positive thing. The advice about finding something your enjoy doing is good advice. I do the same thing Jim advises in his article. I receive about 5-10 magazines and newspapers each month. I tear out the interesting articles and throw away the rest of the magazine. I find when I look back at the articles I've saved, I find these are areas that interest me the most and I would mind starting a business that channels some of those ideas.

    • RobertM - Wednesday, June 11, 2008, 8:43AM ET  Report Abuse

      • Overall: 4/5

      Bit simplistic but nonetheless sound. Key point is to stop whining and get on with it.

    • HR Dir - Wednesday, June 11, 2008, 8:42AM ET  Report Abuse

      • Overall: 5/5

      Wow! A bunch of bitter boomers! Maybe there's a reason that you are made to feel this way. I found the advice interesting and constructive. Go cry to your family and friends, but take control and responsibility for your future and career. I love to garden, as does another poster, however my articles and radio commentary come first, as does my REGULAR JOB which I love. If I get downsized, I have radio, articles and a network to remploy me. Maybe I'll stick to FT consulting... BUT I HAVE A PLAN. DO YOU? That's the point of the article. Don't sit back and complain... take action.

    • MikeD - Wednesday, June 11, 2008, 8:35AM ET  Report Abuse

      • Overall: 2/5

      Umm, rana, you see all of the comments, but you don't see all the ratings.

    • Rana - Wednesday, June 11, 2008, 8:16AM ET  Report Abuse

      • Overall: 1/5

      Yahoo....needs to learn some basic math..averages...how come all the comments are 1 star and there is only one that has a two star...and yet the article gets a 21/2 star????? Wow...talk about patting yourself on the back...they must surely have come up with a software that has not been tested enough!!! same old same old...

    • Yahoo! Finance User - Wednesday, June 11, 2008, 8:09AM ET  Report Abuse

      • Overall: 1/5

      "Figure out what you love to do and find someone to pay you to do it." I love gardening...does that mean I can hire on with the local landsacpe company and work side by side with the illegals in the hot sun after getting canned from job because I am over 40? This guy is just a recruiter. The same person that asks the real stuip questions during the interview process like "where do you see your self in 5 years" Somehow drunk in a bar near the beach or playing golf with my kids is never the right answer for these liberal types. The best advice is to learn as much as yo ucan about the industry you are in and make as many contacts as you can inside and out side the company. Get all the companies client and vendor lists. You have maybe a 16 run in mist companies. From about 24 to 40 after that you have worn out your welcome because of age and wage descrimination. It;s much cheaper to hire a foreign national through the H1B program or some person right out of college. These people wont tell the MBA boss he or sahe are full of it when they come up with their hair brain ideas of how stuff should work. Always think of your self as a hired gun or and be independent, get ready to go at it on your own. You never know when the axe will swing by some pansy nansy HR type like this guy or MBA boss.

    • Jake Blues - Wednesday, June 11, 2008, 7:11AM ET  Report Abuse

      • Overall: 1/5

      Yes, it must be horrible to transition after you've sold your company and made millions. Are any of these Yahoo authors in touch with every day people or is everything geared toward the rich?

    • nitin - Wednesday, June 11, 2008, 6:16AM ET  Report Abuse

      • Overall: 2/5

      The advice given is nothing new and out of the box. In todays competitive environment most of the people keep multiple career options handy for them to utilize in hour of need. Gone are the days when people use to be lazy and depend on one and the only source for their bread and butter. People today build and trust their skills which could be well marketed and leveraged in the world elsewhere.

    • Yahoo! Finance User - Wednesday, June 11, 2008, 5:10AM ET  Report Abuse

      • Overall: 1/5

      What crap!!!! Lose a job, make the best of it!!! Death in the family, make the best of it!!! When is yahoo going to get some authors to publish some information readers can actually use, other than lining the pockets of these so called "writers.?"

    • dtifft - Wednesday, June 11, 2008, 2:32AM ET  Report Abuse

      • Overall: 1/5

      "Transitioning" is the current corporate double-speak for saying that you're considered a useless dinosaur by your early 50s, and that it’s now time to serve out your remaining working years at a low-wage retail sales job, such as at Home Depot or Wal-Mart.

    • SandyLady - Wednesday, June 11, 2008, 2:32AM ET  Report Abuse

      • Overall: 1/5

      What planet do you live on? This so-called "advice" doesn't mean zip when confronted with real life transistions of divorce, death, major illness, loss of job. Here's some REAL advice: Strong faith, inner fortitude, supportive family and friends is what gets you thru life crisis. This puffy (and mostly idiotic) advice is for the ivory tower garden-party set, not any real people I've met.

    Showing comments 6-27 of 27<< Previous
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