Professional Documents
Culture Documents
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Tim Tyrell-Smith
© 2010 Tim’s Strategy. All rights reserved.
If you would like to re-print or re-purpose any of this content, please use proper
attribution (Courtesy of Tim’s Strategy) and provide a link back to the site
(http://www.timsstrategy.com). Once downloaded, this e-book can be forwarded
to friends, families and networks. Enjoy!
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1 Watchlyst™
The #1 Networking Tool During Hard Times.............................................. 1
#1 Networking Tool For, Yes, Networking Groups....................................... 2
2 SidebySide™
How Do You Evaluate A Job Offer? Introducing SidebySide ........................... 6
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3 SoloSheet™
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The Must-Have Resume Companion. The SoloSheet..................................... 11
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4 CareerBack™
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Do You Know Your Career History? Introducing CareerBack ...........................14
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5 FlashCard™
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6 SipTool™
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7 BigPitch™
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8 Shortcuts™
Pass-Along Job Search Advice.Introducing ShortCuts ...................................30
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9 PlateWorks™
How To Build Out Your Network During Job Search. Introducing PlateWorks....34
10 ExpenSmart™
Managing Expenses During Job Search. Introducing ExpenSmart......................36
Welcome! On September 1st, 2008 I started writ- placed the 10 tools in a simple workbook format. You
ing a blog called Tim’s Strategy - Ideas for Job Search can either use it to build ideas, use the links to find the
Career and Life. The concept came from an analogy downloadable files or print out the entire e-workbook
I used during my own 2007 job search. Originally and use it as your job search scratch pad.
called Spin Strategy, the blog was focused on choos-
So like the first e-book (30 ideas. The Ideas of Success-
ing to do the most efficient things each day.
ful Job Search), these are practical resources. Easy to
read and easy to implement. And you can start today.
So, for my job hunt, I built a job search and network-
ing strategy based on the idea that some efforts were These are also ideas.
more efficient than others. In fact, I was wasting valu-
able time on very inefficient tasks. Once I learned I am so grateful to share these tools with you!
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where I could be most efficient, I built a plan to focus
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Now it’s your turn… who can you share them with?
my efforts. Once in place, things started to flow and I
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Feel free to e-mail this e-workbook to anyone in transi-
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had three offers within 45 days. Two of which I turned tion, out-of-work or unhappy in their current job. It
down before accepting the third a few days later. er
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may be just the boost they need! Oh, and point them
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Tim Tyrell-Smith
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best tools from the blog since its inception. Now you
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Become a Fan......................................................................http://facebook.com/TimsStrategy
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Career Hub..................................................................... http://www.careerhubblog.com/main
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Career Rocketeer.................................................................. http://www.careerrocketeer.com
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Career Sherpa................................................................... http://hannahmorgan.typepad.com/
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Job-Hunt®......................................................................................http://www.job-hunt.org
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JobMob™............................................................................................... http://jobmob.co.il
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Keppie Careers........................................................................http://www.keppiecareers.com
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I’ll be honest. I’ve been struggling. In the end, sometimes I can’t do it. We’re all busy, right?
I’m struggling to keep up with the requests of recruit- So you’ve probably guessed that the #1 networking
ers and job seekers who are networking with me to tool during hard times is helping friends, family,
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either find appropriate jobs or find appropriate candi- former co-workers and other worthy folks find their
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dates for current jobs. next job. Whether you are employed or working at the
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time, it simply does not matter.
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I’m not saying that I am popular in this sense. And
it’s not that the number of requests is in the hundreds. er
It also does not matter whether you are successful in
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I know that recruiters and career coaches are being this endeavor. Your effort will be remembered and the
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overwhelmed with requests as the economy hands out value to you is two-fold. First, you get to help some-
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more layoff notices each week. I am only getting my one solve a significant problem. Second, this person,
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share of requests because I have actively helped people once re-employed, will do anything to help you in the
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in the past. future. You become a person of interest, not just some-
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the needs/desires of job seekers with the specs/require- Also, as Bill Murray’s character in Caddy Shack fa-
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ments of recruiter or other networked jobs. mously said: “Oh, uh, there won’t be any money, but
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consciousness”.
daily e-mails of new jobs - many of them not recruiter
driven. Often these are the ones you don’t hear about So, how did I solve this problem? A simple spread-
on Monster, Career Builder or Indeed. Part of the sheet. I call my solution the Watchlyst™ Here’s how
problem is that the information comes in from mul- it works:
tiple sources (phone, e-mail, conversation, etc) and my
1. Simply enter the information for each of
ability to cross-reference everything is limited. your contacts who are looking, print it out
and keep it in your briefcase or next to
Here’s a scenario: I see anywhere from 15-30 new jobs
your computer. Or even better, send them the blank
a day on these networks for positions in Southern Cali- file and ask them to fill it in and send it back!
fornia. Each nicely spells out the job requirements,
2. Every time a job comes across your e-mail,
location, title, industry of the position. I then have take a quick look at your Watchlyst and quick-
to dig back through all of the information, e-mails, ly compare for a match. If you get one, send a
resumes, notes to find the job seekers who asked for my quick e-mail with a link to the job and a helpful
help. It is painful. “Good luck!”.
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#1 Networking Tool For, Yes, Networking Groups
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I just told you about a very simple spreadsheet called I know that many of you meet up at Starbucks for your
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the Watchlyst™. I created this to help you help others. small group and practice your elevator speech while
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As is the path of many things, it was born out of my sharing various job leads. All good stuff. But wouldn’t
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own frustration. So many people to help and no easy it be nice to bring your Watchlyst next time? What if,
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Well, good news, I now have permanent home for the your entire group all on one page and, more impor-
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Watchlyst spreadsheet. You can now visit the downloads tantly, they have yours.
page on the new Tim’s Strategy website. Soon to follow
If you run a networking group or participate in one,
are many other free and helpful (I hope) resources to
I need you to do me a favor. Download the Watchlyst
support your safe arrival at a new job.
and bring it with you to your next meeting.
So, in addition to telling you about the new downloads
Test it out and give me your feedback, would you?
page, I had another idea of how you could effectively
use the Watchlyst. This spreadsheet requires good in- ...
formation (like any database) and right now the job of
entering the data falls upon the person who is also the
one providing the leads. Too much too ask, perhaps.
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How it works: DF
1. Simply enter the 2. Every time a job 3. When recruiters call, 4. As new friends ask 5. Helpful Tip - have 6. Are you looking? 7. Avoid
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information for each of comes across your e- you can quickly say, yes, for your support, make friends prioritize fields Make sure your job duplication. We
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your contacts who are mail, take a quick look I know someone or no, sure they help you fill in (title, level) as well as objectives are on the added a new
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looking for work, print it at your Watchlyst and no one in my network every box on this form.
ith within fields Watchlyst of everyone in column to identify
out and keep it in your quickly compare for a fits that description. Any unfilled box means (healthcare, software) your network! Help what networking
briefcase or next to your match. If you get one, Recruiters will you are one key piece of so that you can add people help you by groups people are
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computer. send a quick e-mail with appreciate a quick
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information short in more intelligence to making sure that know in. Only send e-
a link to the job and a answer. W
helping them find their what jobs you forward. what you want in your mails from groups
helpful "Good luck!". next role. rit next role! that will be new to
people on your
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download that can help you evaluate a job offer.
and downs. I also built a simple Excel workbook that
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allowed me to quickly and easily compare the qualita- Introducing SidebySide™, a methodology to help you
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tive and quantitative aspects of a job offer. stay objective. Again, this is a simple Excel workbook.
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How does it work? It comes in two pieces or two work-
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Of course, by the time the offer arrives, shouldn’t you
sheets within the workbook (if new to workbooks,
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Well, in my view, the process can leave you less than the page).
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examples:
tive is to compare the characteristics of the job with
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1. Many people have not set clear objectives. They the objectives you set early on (your overall job search
don’t have specific job objectives (categories like title, strategy). This sounds terribly simple but sometimes
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industry, geography) or offer objectives (characteristics the back and forth romance of an interview process
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like base salary, bonus, vacation). While it is good to can get you close to offers for jobs that you don’t really
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interview for a number of jobs, at some point you need want. This page is designed to remind of what you said
to be ready to respond to the company with a “yes”, a you wanted when you were thinking clear and smart.
counter-offer or a “no thanks”.
The second worksheet is really simple. It is called Pros
2. After weeks of interviews, phone calls and reference/ and Cons. Here you list out all the positives and nega-
background checks, you finally get an offer. Great! tives of the offer you are considering. Less about mon-
Then you read on to see the following words: This offer ey and more about the non-financial aspects. This may
expires in 24 hours. Of course most companies don’t include the commute, the hours, company culture,
mean that exactly. But, if you are not prepared, that your office or cubicle location. Anything that matters
could feel like a bit of pressure, right? to you! This is a brainstorm so make it a nice long list!
3. You may interview for multiple jobs at once (hope- The third worksheet is called The Numbers. As you
fully!). If all goes well, the clouds will open up and the might expect, here’s where you compare the financial
glow of multiple offers will warm your face. A blessing aspects of the offer. I’ve tried to “dollarize” the key an-
to be sure. But can you effectively negotiate multiple nual terms as well as other one-time or future reward
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Job Quality
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STEP 1: STEP 2:
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List your job objectives Rank your job objectives
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Level: Director 5
Industry: Medical er 4
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Function: Sales 3
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Geography: Atlanta, GA 2
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STEP 3: STEP 4:
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Level: Manager 3
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Industry: Pharmaceuticals 4
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Function: Sales 5
Geography: Atlanta, GA 5
Commute Time: 45 minutes 2
Other: Good Benefits 5
Score: 24 /30
Job Quality
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PRO’S CON’S
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Type list of Pro’s here Type list of Con’s here
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Job Numbers
CURRENT/LAST JOB JOB TARGET
Area Input $ Value Input $ Value
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Base Salary $100,000 $100,000 $110,000 $110,000
15% $15,000 20% $22,000
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Auto Allowance $10,000 $10,000 $10,000 $10,000
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Vacation Weeks 2 $3,846 3 $6,346
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Everybody looking for a job has a resume. Great. You It is a free downloadable template. Available now on
are now equal with everyone else in the world. the Tim’s Strategy website.
Some resumes are better than others and it’s important I call this a “resume companion”. Why? Because it in-
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that yours clearly outlines the value that a company cludes many of the key pieces of information from the
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can expect to find in you. And one that excites an HR resume without the burden of too much data and with
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or hiring manager about the fit and promise your back- the addition of very tangible and actionable data.
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ground suggests.
So who wins when a job seeker has a tool like the So-
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how they can help you? sheet - perfect for the quick exchanges common at
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the quintessential one-sheet. What else do you need to that makes lining up new friends with new jobs
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In an ideal world, there are 10 people walking out of a
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CAREER OBJECTIVE networking event with your SoloSheet™. It is marked
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Here’s another difference from the resume (at least up, key words are circled and a few stars are drawn next
mine). The SoloSheet™ includes a career objective be-
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to a few of your target organizations.
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cause it is critical that your network know what you are
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the better.
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These are critical. Think of the top 4 or 5 from your If you’d like to see an example of how one was filled out,
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resume for your past 2-3 jobs. The ones that, when send me a note and I’ll send you mine from 2007.
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on an organization. ...
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_____________________________________________________________________________________
SUMMARY
I am . . .
_____________________________________________________________________________________
WORK PHILOSOPHY
I believe in . . .
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_____________________________________________________________________________________
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WORK HISTORY
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Company Position/Title Dates
Company Position/Title
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Company Position/Title Dates
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_____________________________________________________________________________________
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CAREER OBJECTIVE
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I am looking for . . .
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_____________________________________________________________________________________
NOTABLE ACHIEVEMENTS
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_____________________________________________________________________________________
KEY COMPETENCIES
My strengths include . . .
_____________________________________________________________________________________
TARGET ORGANIZATIONS AND GEOGRAPHY
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time you change jobs or find yourself in between. It’s are we defined exclusively by our successes or failures
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natural to look back, right? over the years. Or our choice of education. Without
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knowing your story, you are forced to defend each of
Each time you do so, a new piece of your career puzzle
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these shifts as individual events. Sometimes this puts
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falls into place (the job you just finished) and you see
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job seekers in an unnecessary defensive position.
the shape of your work life adjusting to a long, con-
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sistent curve. You may also see a history filled with So here’s my suggestion. Write your history. Create a
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significant shifts. Some planned, some not. longer term position for yourself.
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These shifts might include the following: I call this your CareerBack™. You could also call it your
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• move to a new city career background or narrative. And yes, I have a free
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• shift to a new industry downloadable template for you (see next page). Your
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• break to take care of a sick family member CareerBack is written in the third person (as if you are
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• decision to start a family or stay home to take a news reporter writing an article about yourself ). This
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care of one way, you can do a proper job of highlighting your best
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write a narrative about you for the hiring manager to
While this document is intended to be read as a story
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review. Not only have you done the job for them, but
by someone who is already interested in you, do not be
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you’ve written it! And hopefully, with this creative li-
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wordy. Be interesting in as few words as possible.
cense, you have delivered an honest and compelling
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advertisement for yourself. As with the SoloSheet, I am happy to send a copy of
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sections:
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Background
one right!
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the SoloSheet) and can include your work philosophy. You can download CareerBack here.
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Background
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Career Narrative
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NAME
FOUR TO SIX WORD POSITIONING STATEMENT
Street Address Mobile #
City, state, zip E-mail address
Career Narrative
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are all free. very common and socially accepted tool in business. It
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also helps you feel valuable and shows personal pride.
OK, I guess they are not totally free. If you would, I’d
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OK, so it makes you feel like you are still in business.
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love to count you as a regular blog reader. And I’d love
Great.
it if you would tell your friends about the blog and the er
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tools. Mostly free, I guess. But most cards I’ve seen are bland and include very
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call the whole set my Full Pitch™ series as I hope they So I created a new format that I’d like you to consider. It
help you hit the street with confidence. Confidence, a gets key data about you onto a very portable item. One
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really good sense of who you are and what specific ways that, once properly filled out, will make for a great re-
you can positively impact the people you’ll be meeting minder of how someone in your network can help you.
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that day.
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So far, you’ve seen the SoloSheet™. A one-sheet tem- help it. I’m a marketing guy.
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You may notice the last line on the back: can print as many as you want. If you want to change
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anything on the card, you can do it any time and be
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Add me to your Watchlyst™ at www.timsstrategy.com
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back on the street that same night!
Not familiar with the Watchlyst? Basically, it is a net- er
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Of course, you can get cards printed many ways.
working tool that helps you keep track of the job objec-
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tives of those in your network looking for a job. Me? Here is the online template if you need it… and, good
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Help other job seekers? Yes, absolutely. The Watchlyst luck out there.
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NAME NAME
Positioning Statement (4-6 words) Positioning Statement (4-6 words)
NAME NAME
Positioning Statement (4-6 words) Positioning Statement (4-6 words)
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EMAIL PHONE EMAIL PHONE
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Linkedin Profile Linkedin Profile
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NAME er
NAME
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Positioning Statement (4-6 words) Positioning Statement (4-6 words)
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NAME NAME
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NAME NAME
Positioning Statement (4-6 words) Positioning Statement (4-6 words)
Title: Title:
Function: Function:
Industry: Industry:
Geography: Geography:
Title: Title:
Function: Function:
Industry: Industry:
Geography: Geography:
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Add me to your Watchlyst™ at www.timsstrategy.com Add me to your Watchlyst™ at www.timsstrategy.com
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CAREER OBJECTIVES CAREER OBJECTIVES
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Title: Title:
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Function: Function:
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Industry: Industry:
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Geography: Geography:
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Title: Title:
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Function: Function:
Industry: Industry:
Geography: Geography:
Title: Title:
Function: Function:
Industry: Industry:
Geography: Geography:
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partly right. The problem is that the feedback has been networking and perhaps are slow to call back recruiters
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pretty good on the others. So you’ll just have to put up or HR managers. Why would you, right? A great job is
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with a few more. And maybe a few more after that… just a few days away!
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Sip™ is designed to walk you through a structured er
Here are a few risks of a hyper focus on one
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process to prepare for a strong and focused interview. opportunity:
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What I like about these tools is the structured process vidual interview. Less pressure means you can be your
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they force you through. Especially during job search confident self, realizing that all is not riding on this
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made a huge difference in the interview. I was able to
Industry Trends and Competitive Review
give them personal feedback on my experience with
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What’s happening in the company’s industry may have
their products and it showed an early engagement and
an impact on its decision making. Are there any large
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interest in their products. The other value? My car was
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macro issues facing them and their competitors? For
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es? Who are their competitors and what are their new
similar interest in the products or services of your tar-
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category?
be careful!
Ed
Experiences
need to know all of this?” It may be that you don’t
As simple as it sounds, list out the requirements and
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role that the department might play.
template here if that helps you.
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Positioning Objective
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Download Sip
How would you like to be remembered by each inter-
viewer? In addition to your being a great fit with the er
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I hope it helps you prepare for your next interview.
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job description and, hopefully, a good fit culturally and Even more, I hope it helps you focus and feel smart as
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personally, what will make you the ideal candidate? you step into the office of your first interviewer. Oh,
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What will be the one thing that makes an interviewer and I hope you knock their socks off.
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in the car heading home. They are talking about you. ...
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Company Strategy and Recent Results: er
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My Questions:
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Beginning
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Middle
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End/Summary
1.
2.
Is it safe to assume that everyone in America has some people have a hard time controlling their pitch. Of
watched American Idol? Based on the vote tally each course, there are ways to correct pitch problems.”
week during the season, I think it is a fair bet. And if
We all do our own judging when out at networking
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you’ve seen the show, you’ve seen the caricatures that
events, don’t we? I know I do. I love to listen to the
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do the judging. The caricatures include hip/cool, sure/
variety of voices and accents. I also love to hear what
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sensible, loving/kind and rude/contrarian. They play
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people actually say and wonder whether that was what
their roles pretty well, actually. As if they were reading
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they planned to say. Are they off key or just new at
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off a script… hmmm.
sharing their careers with others?
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So, in this post I’d like to to help you with your pitch
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4. Stand up and move around! Please don’t sit. Don’t 9. Be Interesting! Find a way to make your career ac-
stand next to your seat. And once up in the front of the complishments relevant and interesting to everyone.
room, try to move around a bit. Your physical move- Avoid using industry specific jargon that only you and
ment, like the strength of your voice, helps to send a few others will understand. Use brief and specific ex-
a message that you are sharing something interesting. amples of what makes you different from everyone else
What does it mean to move around “a bit”? Two or who sat in those chairs. I am sitting here waiting for
three steps each way is fine. If you find yourself across you to say something that will allow me to remember
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the room after 10 seconds, rein yourself in. you. What are you passionate about? Really!
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5. Pauses, small breaths and other ways to create em- 10. Recognize others! If you heard something inter-
phasis. I’ve heard a few people give an elevator pitch
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esting from another networker who spoke before you,
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that sounded more like a speed reading. Remember, re-emphasize it. That says to the group that you were lis-
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this should be conversational. So, pause after an im- tening earlier and have more than just your own success
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portant point or a big accomplishment. Place emphasis in mind. You may also create an opportunity for further
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on certain other points you want people to remember. networking with that person as the open networking
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Be in control of what people hear and what ends up portion begins. This is networking with a purpose.
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on the floor.
Of course this discussion has been almost entirely fo-
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6. Smile and be approachable! Being in transition cused on the most common format for the modern el-
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does not warrant a eulogy. Your elevator pitch is not a evator speech.
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Name
Positioning Statement
(4-6 words that uniquely define you)
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(method or style you’ve used to succeed)
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What Are Your Job Search Or Business Networking Objectives?
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A FEW HINTS:
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Be concise
Smile
Be memorable
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who recently arrived at a new job. 2. You will help others. As you “transition out” there
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are always people transitioning in. Do you think they’d
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They took the time to share their job search experience
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appreciate your advice? Absolutely! I talk to a number
with others. And what a great thing to do.
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of job seekers that are even just a month in to their
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You see, at some point, all of you will also arrive at a search and you know what they say? “How can I help.
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new job. Yes, this will all be over. And after 4 weeks, I’ve only been out a month!”. Well, you’d be surprised
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3 months or one year you have learned a few things how far along you are vs. others just kicking off their
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about job search. Things that will die in your mind search. Your advice will become a primer for others.
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unless you create a way to share it with others. You may even kick off a new permanent networking
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Think of it like a post-mortem you would do on a busi- for your advice, can I buy you a cup of coffee?”
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after your job search (if you’ve never done one before)
Now some of you are thinking one of the following: will give you a new tool to impress your boss in the
1. Good idea, but my focus is on the new job. new job.
2. I struggled in job search. What can I teach others? 4. You’ll use it again. This new economy may put
3. I’d rather wash my memory of it all. all employees in a state of perpetual search. An up-
I won’t blame you for thinking any of that. Makes to-date guide to job search may come in handy again.
sense. But let me give you a few reasons to re-consider Think you’ll remember all the resources you utilized?
this idea:
5. It’s a low effort solution. Once written, you will
1. It will be therapeutic. Because as you transition out have a document you can easily send to folks needing
of job search and into your new job there will likely be advice. And if you don’t have time in the new job to
some misgivings. Perhaps still some healing required. meet for coffee, at least you can share your experiences
Anger about having been put through all of that ef- on paper.
fort (networking, resume writing, interviewing, etc).
Once saved, you can send your version to your net- Whatever your learning during job search. All that I
work via e-mail after you arrive at a new job. You can suggest is that you share it with others.
share it with people you meet over the coming months
And remember, send me a note if you’d like to share
who ask you for transition advice. You can add it to
yours with others via Tim’s Strategy.
your blog.
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OK, here you go:
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Download ShortCuts 1.0
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“You see, at some point, all of you will also arrive at a new job. Yes,
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this will all be over. And after 4 weeks, 3 months or one year you have
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learned a few things about job search. Things that will die in your mind
unless you create a way to share it with others.”
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So, why ShortCuts? You will help others. As you transition out there are
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people transitioning in. Do you think they'd
Well, you are now a resource to help others avoid the appreciate your advice? Absolutely! I talk to a
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long nights of research required to learn the game of number of job seekers that are even just a month in
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job search. The work to identify networking groups to their search and you know what they say? "How
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in your area. can I help? I've only been out a month!" Well, you'd
be surprised how far along you are vs. others just
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Now some of you are thinking one of the following: It's a good practice. Doing a good post-mortem is
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_____________________________________________________________________________________
My Favorite Online Resources
_____________________________________________________________________________________
My Favorite Networking Groups
These are groups that had helpful in-person groups with speakers. Note cost (if any) and value . . .
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Mistakes I Made Along The Way
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Your work with a great career coach, resume writer, personal branding expert . . . include names
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Tell the story of how you found your job. The more detail the better . . .
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_____________________________________________________________________________________
The Best Advice I Got During Job Search
This is the one thing that guided you and provided the confidence to keep pushing . . . include
source and link . . .
_____________________________________________________________________________________
The Things I Am So Thankful I Did During Job Search
Things like: picked my kids up from school everyday, finished a book I’d been writing, explored
long delayed idea or hobby . . .
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value in a local presentation. I have really enjoyed the (there are a ton to choose from) and how often. This
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opportunity to get out and speak. Very cool. includes some work on your part to figure out the ca-
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pacity of your “plates” to help you and their willingness
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PlateWorks™. uses a plate identification tool to
to do so. To spin a plate means to utilize it. To engage
define the networks you want to tap. I wanted to er
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it. I.E. call them, ask for a meeting, ask for a referral.
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re-introduce it because I still meet so many peo-
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ple who are networking the old fashioned way: So if you know someone who is missing breadth in
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using too small of a network and using it inef- their job search and networking strategy. Or if you
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ficiently. And not using social media tools like know someone who is not fully utilizing their poten-
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Linkedin, Twitter and Facebook. tial network, perhaps PlateWorks™ can help. Simple,
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the people in your world who can help you find a job.
It includes a short list of all the possible people you So here is the PlateWorks™ download. Please share
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might interact with in life and provides a place for you your feedback as always. I read it all . . .
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This tool iis based on the analogy of plate spinning. In job search, you need a broad network and a plan as to how you will use it. OK, let's get started. Please use the examples below to identify your plates:
15 16 17 18 19 20 21
22 23 24 25 26 27 28
10 ExpenSmart™
-But while in transition (in between jobs) it can be It helps you to both identify today’s expenses as well as
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critical to the financial and emotional health of your plan for future ones
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home during hard times.
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It allows for incomes from a variety of sources, includ-
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As I look back at the category listing for this blog, I ing severance payments (monthly or as a lump sum)
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was surprised to see that this is only my fourth article
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Well, yes. Perhaps even more so. Whether you have help
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Now, to be fair, there are many other tools on the web for A few months ago I wrote about the danger of being an
managing a budget. Some more detailed and more high optimist during job search and let me just say that your
tech than this one. So, what makes this one different? transition budget is not the place to be optimistic.
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TAB 1 - How To Use
To
TAB 3 - Planning Months - Budget
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If you find the tool via this post (see download link at
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the very bottom of this post), you won’t need to read Now that you have a sense of your real spending habits
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this tab unless you need a refresher. Everything on that (or at least a real month), you can begin projecting for-
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tab can also be found here. ward based on known expenses and estimated variable
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This worksheet is here to help you be honest with your- mind the time of year and using knowledge of your
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self. One of the biggest mistakes that we make in bud- seasonal spending habits to adjust monthly projections
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a month. Keep the spreadsheet up on your computer two incomes to one or from one to none, the spread-
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and log in every single expense, cash or credit, into the sheet allows you to plan for either scenario and plan
spreadsheet. Ask for a receipt. For everything. Daily. for the availability and eventual dissipation of a regu-
lar severance check. If your severance check is a lump
Is it painful? Yes. Does it feel like overkill? Of course. It sum, look to the bottom of the spreadsheet to identify
will also take a lot of your time to do it right. it along with any other lump sum amounts you may
But if you think you have a handle on your actual ex- need to tap.
penses when you have a big paycheck coming in like a For job search expenses, part of your strategy should
fire hose . . . and you are wrong. You will be especially be your use of paid resources to help you find your
frustrated with the size of the expenses when the income next role. As I’ve said before, if you plan to use a re-
begins to slow and eventually begins only to drip. sume expert or a career coach, do it early and include
And do not underestimate the emotional tie you have it in your plans. Also, make sure to set a budget for
to your ability to spend at will. Believe me, your pride yourself re: job search expenses. Too many meetings at
takes a hit when someone says that you shouldn’t buy Starbucks and your job search expenses can begin add-
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This worksheet is here to help you be honest with yourself. One of the biggest
mistakes that we make in budgeting is assuming a bad number. We think we
Now that you have a sense of your real spending habits (or at least a real month),
spend X on food each month when it is actually Y. Here's what you do. Track your
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you can begin projecting forward based on known expenses and estimated variable
actual expenses everyday for a month. Keep the spreadsheet up on your computer
expenses (i.e. food, utilities, entertainment).
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and log in every single expense, cash or credit, into the spreadsheet. Ask for a
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receipt. For everything. Daily. DF
In Tab 3, you plan out three to six months keeping in mind the time of year and
Is it painful? Yes. Does it feel like overkill? Of course. It will also take a lot of
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using knowledge of your seasonal spending habits to adjust monthly projections as
your time to do it right.
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Concerning income, if your transition takes you from two incomes to one or from
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But if you think you have a handle on your actual expenses when you have a big Fr one to none, the spreadsheet allows you to plan for either scenario and plan for the
paycheck coming in like a fire hose . . . and you are wrong. You will be especially ee availability and eventual dissipation of a regular severance check. If your
frustrated with the size of the expenses when the income begins to slow and
severance check is a lump sum, look to the bottom of the spreadsheet to identify it
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eventually begins only to drip.
along with any other lump sum amounts you may need to tap.
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For job search part of your strategy should be your use of paid resources
And do not underestimate the emotional tie you have to your ability to spend at
to help you find your next role. As I've said before, if you plan to use a resume
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will. Believe me, your pride takes a hit when someone says that you shouldn't buy
expert or a career
oocoach, do it early and include it in your plans. Also, make sure
something that a few months ago would have been a no-brainer. Sometimes you
to set a budget for lyourself
s re: job search expenses. Too many meetings at
will be the one giving that direction to a spouse. Other times, your spouse (the
Starbucks and your job search expenses can begin adding up. Networking coffees
financial driver in the house) will bring you to your knees with "we can't afford that
are a great way to build a relationships and gain new contacts, but they can also
(insert something important here)".
get expensive.
If you can fill this out in advance of your transition beginning, that is ideal. If you
If your search extends beyond your severance, you'll need to identify your next
get a heads up on a lay-off. If not, do the best you can to track your actuals. And
source of funds to cover expenses. A cash savings account is commonly viewed as
remember that this is one month. Pay attention to any unique aspects that you
the next best source due to its liquid nature and (hopefully) penalty free access.
may need to adjust for as you begin projecting future expenses. Was your learning
For decisions regarding tapping other savings, home equity or 401k funds, please
month "back to school month" or a big birthday month for family? Adjust
contact your accountant or financial adviser.
accordingly.
Day
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Total
EXPENSE DESCRIPTION
TOTAL EXPENSES $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
January February March April May June July August September October November December
INCOME DESCRIPTION
Net Pay 1 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Pay 2 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Severance Pay (monthly) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Interest and Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Miscellaneous $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TOTAL INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
EXPENSE DESCRIPTION
TOTAL EXPENSES $0 $0 $0 $0 $0 $0 $0 $1 $1 $1 $1 $1
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