The Do’s and Don’ts of Career & Business Planning
The probability of you sticking to one job and following one career path becomes more and more unlikely, given the times we find ourselves in – the age of information.
Because of technology, the professional & business world has increased in its competitiveness and diversity. According to Career Change Statistics, the average individual will change careers 5-7 times during their working life. Quite remarkable when you consider the fact that a couple of generations ago, many people would work at the same company for the entire duration of their adult lives.
It’s safe to say that our current climate is the polar opposite of our predecessors, with a new career or profession sprouting, quite literally, almost daily.
So how does one prepare for this? How do we ensure financial success with so many changes? Through calculated, thoughtful career & business planning. We’ll take you through a brief guide on how to get started. Here are the do’s and don’ts of career planning.
Career Planning Do’s
What better way to plan than to check in with your progress and how you’re feeling at least once a year? Our advice is to take some time off, once a year and focus on your career & business with no distractions.
To reflect is to grow, and this is the best way to put things into perspective when it comes to your career or business. This is also a constructive way of managing any uncertainties you may feel, and that you will more than likely be faced with when implementing such a change. Make sure you are 100% certain. If there are any overwhelming doubts, this is the time to address them.
Keep your resume (CV) & LinkedIn profile updated
Another task you should try to do quite frequently is to update your CV (resume). This is possibly one of the most crucial steps in career & business planning because it’s also an effective way to review your progress.
You’ll find that by writing down your daily tasks and major changes in position, you’ll gain a deeper understanding of whether you’re currently content with what you do.
If you only update your resume when you’re looking for a change, then you could miss some imperative details.
You would be surprised at how quickly things change. How your responsibilities evolve or shift completely, especially in the start-up & business world! By documenting your evolution, you’ll paint a clear picture on how you adapt, how fast you learn, your core strengths and expertise. Once you’ve done this, apply the same information to your LinkedIn profile. This is how many companies now headhunt professionals.
Career/business planning and financial planning are one and the same. What’s the point of working every day without preparing for the future? Even though you may change jobs or careers multiple times in your life, we advise that you establish a detailed financial plan, for the sake of retirement and for the sake of unemployment.
At Intrepid Wealth Partners, we use a "Results by Design" financial planning process. This is achieved by focusing on specific results. The design of your plan allows us to predict which solutions are best suited for your situation, helping you realise your goals.
- We learn about and help you crystalize your hopes, dreams & goals
- We analyse & test your current financial situation to determine whether it will meet future needs
- We assist you in managing your money to find the lowest cost, lowest risk ways of reaching these goals
- We then agree on tailored solutions based upon the results of our analysis
- We help you implement these solutions from your financial plan
A durable financial plan is the foundation for financial success, and more importantly a gratifying, financially stable life.
Reflecting is a big part of career & business planning. You need to regularly reflect on your likes and dislikes as these often change and reflection increases performance and productivity.
A simple way of doing this is by compiling a list of what you do and don’t like about your current role and daily responsibilities. If the don’ts outweigh the do’s, maybe it’s time to consider something new?
This goes hand in hand with having a purpose. Are you working for financial freedom? Are you working because you believe in what your company does, or are you just looking to survive?
These answers can only come from you and you alone.
Career Planning Don'ts
Leave your career & business choices to chance
As we’ve established above, career & business planning takes a lot of introspection. You cannot leave your path to chance.
By following our points on planning regularly and reflecting, you should be able to forge a path that aligns with your hopes and dreams.
Expect development opportunities on a plate
A mistake many people often make is to leave development guidance up to their employer and/or business advisors.
You know your strengths, weaknesses, and potential. So at the end of the day, it’s up to you to approach the powers that be on what skills you’d like to develop.
This show’s initiative and more often than not, these people will be keen on building on your value.
My team and I work with people throughout a variety of different career and business stages so if you feel like you are in transition and would like to chat about your finances keep in mind that we offer a wide array of services that should run parallel with your career & business plan.
A bright future to you!