A while back, a friend, well actually more of an acquaintance, asked me if I had any advice for her on job hunting. I was somewhat surprised as I did not know her very well and I have not held many jobs myself, and none by design. I just fell into the work. After chatting with her I realized why she had asked me. I had linked up a friend of hers with a person I knew to help with a specific problem and that friend of hers had suggested to her that I know everyone on the planet and could connect her with someone who could help.
I was somewhat disappointed that it was not my knowledge she was after but not surprised. I do know a lot of people, many of them not accessible without a connection.
Her story was a sad one. At just over forty she realized her husband had been having an affair. Not a one-night “lapse in judgment” but a full on long-term relationship. He was quite a successful fellow and after getting over the shock and disappointment of the situation she expected that at least there would be a reasonable settlement coming out of the divorce. When they married his well-to-do family had said he would need to have a prenuptial agreement and she had been pleased that he would have nothing to do with that, as he was committed to the relationship. What she did not know is that he had a more sinister plan. From almost the beginning of their marriage he had syphoned off the real wealth he had inherited and had grown and put it into an offshore account. Their visible “assets” which were considerable, all had extensive debt associated with each of them so after liquidation there was virtually nothing left.
So at forty-two she had no income, no assets and had been out of the work force for about two decades as she had been home taking care of their kids, not building a career. At the time they married she had left the study of Architecture to support him in graduate school.
Her goal was for me to link her up with a person who could guide her in how to fast track her way into a job. I knew just the person.
Esme is a friend who has had various senior positions in companies and today sits on many boards. She has an uncanny ability to understand how most kinds of businesses work – the essence of the thing.
After linking them up I thought that would be the end of it but they copied me into their correspondence. One was in Maryland and the other was in London so email was the easiest way for them to manage time zones and Esme’s incredibly orchestrated schedule. So I got to be a voyeur in their conversation.
And why am I rambling on about all of this? Well the essence of Esme’s help at this point in the journey was the notion of “buying a job” and after clearing it with her I am sharing those ideas here, albeit in my own words. I will try to do her thoughts justice.
At the core of it is the notion that every job is acquired based on what the person seeking it has to offer.
- The easiest way to buy a job is to get an education – particularly in those fields with big barriers to entry – professions for example. You pay to go to university or college and come out ready to offer that scarce skill set and are paid well for it.
- If you have accumulated some wealth or you are prepared to borrow extensively you can buy a job by acquiring a franchise. Whether its fast food, or various services there are lots of opportunities to work notionally for yourself in a franchise but you will pay the price in upfront costs and ongoing work.
- For people who don’t have the capital to buy a franchise or did not go to university or college to offer some specific skill set there are lucrative positions that are based on deferred payment. These are for the most part sales positions where you work for nothing until a sale is made and then get a commission. Whether it is real estate, automobiles or big ticket consumer goods there are a lot of positions for those who are good sales people. They are buying the job based on future sales and risking their livelihood based on their ability to get those sales. They are working for free until the transactions happen. It works well for those who know how to hustle, and not so well for people with a more laid back perspective on work.
- The majority of the working population however “buys a job” by being willing to accept an hourly wage that is low in exchange for bringing only their day-to-day commitment to a job – no special education, no risk, but limited income and limited upside.
Her advice for this woman, who is personable, communicates well and while she did not complete her education is very well read and knowledgeable about the world, is to never take an hourly paid job. Regardless of the hourly wage their will never be enough hours in the day to really create the upside to have a comfortable life. To really get ahead fast you need something that will pay you for achievement, not just for showing up.
Another fundamental is to be honest about your talents, skill set, experience, and personality then find a field that with some short term training or on the job experience you can set up your own operation and be paid based on the value you add to create the value.
The obvious one that jumped out for both of them was for her to go into residential real estate sales. She is personable, there is only a short course to qualify and the commissions can be huge. But the market is down and with so many who have jumped onto this lucrative train in recent years the conclusion was to not pursue it. Her experience in design and décor was also considered but today everyone and their pet rock thinks they are a designer so this too was not pursued.
So Esme had her drill down on high value items that everyone needs but are not so regulated you need specific training like dentistry or financial management. After exploring her interests at some length and those things she has enjoyed being involved with in the past and are big ticket but not as sexy as selling cars or real estate they came up with…. window & door orders. Every house has aging windows and doors, and while there is a technical side to learn most of these products are sold on the combination of price and design elements – colour, profile, grill choices etc.
As a person who made it to fourth year Architecture she also had some academic bragging rights without actually having completed the program.
According to Esme if she researched the products extensively she will be able to walk into a showroom and bring insight into what is good about that companies product line and what they could do better based on the competition. She will buy her job with industry insight flowing from that research.
For me it was a fascinating exercise as a voyeur. As I write this my friend is talking to people in each of showrooms of the big players in her area as a starting point to learn about the products and understand the points of differentiation and will then chose how to proceed.
What I really liked about watching this process is not just what I learned, but to see a person who had been knocked down, and was somewhat adrift, to then set a goal, which turned into a plan of execution and with that some confidence in the future was seeping into her thinking as well.
I will update this post when she lands a a position and I am pretty confident that wont be too far out in the future.
Django
