A bit of insight when trying to switch industries

I have had three distinct industries shifts in my career: commercial travel, financial services and telecommunications provider. So take heart for anyone hearing “you don’t have industry experience”, it can happen.

We all believe we can succeed because our skill set will transfer intact. As each of my industries have been very different in size, scope, regulatory, competition and technology, let me share what I believe transfers well.

ONE: Understanding the business model - Most people figure out how a business makes money pretty quick. Generally speaking, each area of the business has 3-4 key items.

TWO: Technical skills - While the application of the skills may differ, the understanding of the technical skills (e.g. marketing, accounting, etc.) for your professional move across.

THREE: Communication and Personal skills - These are the skills and experiences that make you truly unique from other candidates, so they transfer very well. Again, how you apply them will be different, but usually it’s these skills on what seals the deal when getting hired.

Okay, so you read that and think “So what’s the big deal? Why are people hung up on experience?”

Here it is: A intuitive sense of the business.

When switching industries you must learn the language, trends, competitive forces, etc. When someone says “ABC Company just raised their price 2%” – you will not know how to react, because you need to learn what the price change means. Within your first year, you’ll encounter this dozens of times (if not more).

While a new perspective or outside view is always a benefit, you need to recognize that it is difficult to be as efficient as others until you learn the industry. Also, people feel more comfortable with those who understand the business already, especially if the business is in trouble and they need to act fast.

When looking at a new industry, the skills to emphasize are living through a major industry shift, launching a new business, working in different geographies – basically, anything that shows you understand the challenges of making a change and have been successful in doing so.

Also, have a plan of how to learn the industry. The best way to do that is to spend time with someone currently in the business.

Good luck this upcoming week.

Mark Richards

www.candidateschair.com – Tools and Advice from a Candidate’s viewpoint to help get past job search roadblocks and keep your spirit strong. Please take a visit.




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