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GUEST COMMENT: Your challenge - meet 21 people in 21 days

So you say you want to find a new job in 2011? Really? If you really want to make a difference to your prospects, I suggest you take up the 21 day challenge.

In the next 21 days, go out and meet 21 different people.

Why?

60-70% of positions are filled via referrals and networking. By engaging your warm contacts (your "unpaid recruiters"), you take the first step in tapping into positions which are not openly available on the market yet (the so called "hidden job market").

You get a chance to practice and sharpen your pitch (what you want, what you offer, what differentiates you) with an easy audience. You get to screw up in a low risk fashion so that when you meet a really important contact or get to the key interview, you'll be in fine form.

Who?

The 21 people need to be warm contacts who know you - an old boss, ex-colleagues, old clients, university friends, old friends you've lost touch with - or indeed people referred by warm contacts.

Don't dismiss anyone based on "oh they won't know anyone" - you never know who they in turn know. And anyway, I'm asking you to meet and reconnect with people, not meet them simply for referrals and leads (not a nice thing to do).

In fact, your focus should be engage in conversation, ask questions, listen and see how you can help them - that's how you truly network.

Trust me - when you get face to face with people who, like, trust and respect you - they will volunteer to help even before you ask.

Why 21 days?

It takes 21 days to form a habit. So if, over the next 3 weeks you can get you out meeting people, engaging, following up leads etc - you'll gain some critical habits which will accelerate your search during the next few weeks and months.

21 people - That's a lot!

That's why it's called a challenge!

Look, it's not the end of the world if you meet 15 people in 21 days. But aim for the 21 as it really will give you momentum. confidence and sharpness when marketing yourself. Plus it will sow lots of seeds which may come back and flourish into opportunities several weeks or months down the line.

And remember, these are warm contacts not strangers - so you should easily be able to set up the first few. Let me ask you - who is the easiest person for you to set up a coffee or drink with? Contact them right NOW!

(By the way, I'd love to hear how you get on - or help if you hit any road blocks with this 21 day challenge. So please leave updates and questions in the comments box below and I'll come back over the next few day to answer your questions and comment on any your success of your success stories.)

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AUTHORSital Ruparelia Insider Comment
  • be
    betaadjusted
    4 April 2011

    Thanks Merv

  • be
    betaadjusted
    4 April 2011

    lol Merv. To be honest most of these people are simply from the alumni network; I have a reasonable success rate in terms of getting meetings and view it as another 'distribution' channel for my CV as some of them put me in touch with their mates. Some of these people are very senior in the city. But why hire me as a VP rather than a 26 year old as an associate? especially if they are fresh from business school/CFA. The skill-set is intangible anyway (I'd like to see whether CFA designation or MBA results in any tangible improvement in investment return; I strongly suspect not) so may as well just take the clone. I had a couple of interviews at top funds which went well but now its been 15 months out of work and this bonus season has been quiet.

    PE boss, this industry is absolutely full to the brim with vacuous sales people. They tend to do rather well, presumably because the people they are selling to really haven't got a clue ... I've tried your industry by the way ... need M&A experience, MBA/from bulge bracket etc. etc. Its all about having 'the right CV'. Circular peg for circular hole. No entrepreneurs there then.

  • be
    betaadjusted
    4 April 2011

    ps I'm quite bullish too. Analysts are very focussed on earnings for obvious reasons. But if you cut the discount rate by 50% (perhaps ~10% for average stock normally, interest rates 0.5%, that means you halve it; actually, real interest rates -5% or worse in UK!). Now obviously we should be talking about the long-term rate but I really think its unlikely we will see higher rates any time soon i.e. long-term rate expectations will fall. So equities could even double from here. Why not? the rally continued since q4 for precisely these reasons. Short of the little guys threatening revolution in the West, I think they can be squeezed a bit more. Sure, oil can go higher and cause a problem, but those historical downturns happened in environments where interest rates were much higher. Balance-sheet recession was last-year's story, just wait for QE 3.

  • Me
    Merv
    4 April 2011

    Who keeps their University contacts (do you mean "friends" and class mates) on a spreadsheet? Have you ranked them by there potential usefulness to you in attaining your professional goals? I think you should. I would encourage everyone to do this and to cull their friends/family/contacts (whatever) by 10% per year just to keep them on their toes and weedle out the non-performers.

    Ok, I'm being harsh, I'm sorry. Good luck in getting a job soon. Remember that we may be out of the eye of the storm but we're still in crisis mode - according to Deutsche this morning, UK rates remain at a 317 year low. 317 years...this is sobering. There are signs that things are getting better (ISM, non-farm payrolls), we'll all be supping champagne again in no-time, though I wouldn't recommend you waste time doing this with friends, only professional contacts who can offer financial benefit - sorry, there I go again...:)

  • PE
    PE Boss
    4 April 2011

    @ betaadjusted - Private bankers are morons, empty-headed sales people like recruiters.

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