Lukas Krause - The Business of You: A Guide to Finding, Managing, and Succeeding in Your Career

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Print ISBN: 978-1-62634-503-4

eBook ISBN: 978-1-62634-504-1

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Printed in the United States of America on acid-free paper

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First Edition

This book is dedicated to the friends and family who have supported me. I wouldnt be the person I am without you.

Mom and Dad, thank you for helping me believe that anything is possible. It has enriched my life beyond what words can describe.

Valerie, you are the best partner anyone could ever ask for.
Tricking you into marrying me is far and away my greatest accomplishment. You are dirt worthy!

Contents

SECTION THREEEstablishing Your Competitive Advantage:
How to Outperform the Competition

Understanding the Business of You

Youve obtained a lot of business knowledge over the yearsthrough a combination of schooling, osmosis, or work experience. Now its time for you to start using it to your benefit. Youve been exposed every day directly and indirectly to knowledge and strategies that can be applied to your careers advantage. Starting out with a basic from Business 101, its important that you have a firm understanding of what drives the Business of Youits strengths and its weaknesses.

The most successful businesses have a strong sense of identity and stay true to their character. They know who they are and, just as important, who they are not. It doesnt matter whether youre starting or even restarting your career journey, your success will be built upon the foundation of how well you understand yourself as a business asset. The better you understand this idea, the better you can support and position yourself for a highly productive career.

WHAT DRIVES THE BUSINESS OF YOU AND WHAT ARE THE STRENGTHS AND WEAKNESSES OF THE BUSINESS OF YOU?

Jim Collins outlined a theory in his classic book Good to Great in which he concludes that businesses are more likely to succeed if they focus on one thing and do it well. By doing so, they can beat their competitors and become truly great businesses. Collinss Hedgehog Concept illustrates a simple idea that flows from an understanding about what you are deeply passionate about, what you can be the best in the world at, and what most effectively drives your economic or resource engine.

Like the great businesses Collins studied over a twenty-five-year period, you can take your career from good to great by making a series of sound decisions that consistently leverage these principles.

To apply these principles to your career, you will need to start by conducting some personal assessments to know yourself better. During these personal assessments you should:

1. Find out where your preferences and passions lie.
2. Identify your strengths, weaknesses, tendencies, and skills.
3. Define your optimal work environment.
4. Understand the macro environment and trends that could impact your career path.

LOOK INWARD AND UNDERSTAND WHAT DRIVES YOU

Were all capable of performing a wide variety of different career functions. However, that doesnt mean that we should be performing all of them. Take me, for example: I can manage debits and credits (basic accounting activities). But the thought of being affixed to a desk crunching and organizing numbers all day makes me want to pull my hair out. I crave interpersonal interaction and love to help people learn and grow. I know that for me to be successful, my primary job functions must feed these passions.

Lets look at a serious of questions designed to initiate the process of finding out about your preferences and passions. Find a quiet place, free of distractions, and seriously think about the questions below. Take your time and think deeply about your answers. The deeper you go with each question, the closer you will get to your core feelings and preferences.

Our childhood memories provide important clues about what our consistent core values and preferences are. Ask yourself:

• What are some of my favorite memories? What activities were involved with these memories?
• What was I doing?
• Was there anyone else involved?
• Why was I so happy?
• What personal accomplishment am I most proud of?

Just like in your childhood, your educational or career experiences thus far can serve as a reference point for the types of activities and responsibilities that you enjoy and are skilled atand vice versa. Even the worst work experiences can provide value in terms of identifying functions, environments, and activities that you would like to avoid or, at the very least, minimize in future roles. Now think back to previous roles or jobs and answer the following questions:

• In previous jobs and/or during your studies, what types of activities and responsibilities made you feel energized and made time fly?
• In previous jobs and/or during your studies, what types of things seemed to zap your energy and make time stand still?
• Looking back at your career, what accomplishments are you most proud of?

Now think about your personal time. Your choice of hobbies and how you fill your free time are great indicators of your preferences.

• What are the types of things you gravitate to in your free time?
• Why do you enjoy these activities?
• What are the elements of this activity that give you joy?
• What motivates you to pursue this hobby or activity?

You may need to repeat these exercises a couple of times to dig deep enough to find your answers. But if you take the time to answer all the questions thoughtfully, you will start to gain a better understanding of what drives you and a conscious awareness about what types of attributes your