Tuesday, September 25, 2007

Bringing Strategic Management to life

I believe that planning for one's future is an extremely important task, especially for aspiring graduates. If you would like to get somewhere in this life you better determine: 1) where it is that you want to get; 2) what it takes generally to get there; 3) what it takes for YOU to get there. All of that of course is nice in theory but in reality long term planning can be extremely complicated.

Personally I have dedicated a lot of thought to it when I first started college and has been re-assesing my goals ever since. The first couple of years in college were truly very confusing as I was just finding myself for the past 3-4 years and changing my long term plan every year or so. Of course, in the very beginning my long term plan was very simple and it seems ridiculous to me now, but it went something like this:

1) Graduate with a degree in CIS from Brooklyn College
2) Keep my current job and find a better one upon graduation

Pretty crazy huh? Well... actually it was because after approx. two years, fascinated with financial markets, I transfered to Baruch College. I changed my major and my long term plans were ruined!!! Not to worry, a new set of plans was set again and again and again. Until I finally realized that even though I like studying Finance my heart belongs somewhere else - more riskier and less stable Sales field. Once I realized that this was my passion I created a plan which I am currently executing and that is supposed to get me to the top. It is still a little vague and I am undecided on a couple of points but I think I narrowed it down pretty well.

So here it is:

1. Graduate from Baruch with a Finance Degree - this time around I'm half a semester away so I'm going to make it happen.

2. Further develop and finetune my sales skills at my current job as Advertising Director for Search Marketing Standard magazine. I started working there about 1.5 years ago and have achieved a 200% increase in sales per quarter. My goal is to reach 400% increase within one year with the help of a junior sales person that I am currently training. I also need to further develop my connections in the industry.

3. In a year or so it is time for me to jump to the next step career-wise. From infinite possibilities available I am considering two choices that seem the most attractive to me:
a) Continue working in search marketing field. Using my existing connections I will have no problem finding a job in a medium size corporation selling either advertising or services. Even though this seems as pretty obvious choice I am not sure about prospects in the field 10 years down the road.
b) Since, in addition to knowing search marketing industry, I am also familiar with sales of advertising I can go to work for a media giant selling either TV, Print or Web advertisement. This transition is going to be a piece of cake since I understand how marketing process works in large corporations and know what companies are looking for in terms of advertising. I would have to do massive research on TV advertisement though since that field I am not so familiar with. This seems to be an interesting idea since I can move up within the corporation. Moreover, working for a big brand will build up my future value.

4. Earn $120,000/year in salary, commissions and bonuses by the age of 27

5. Purchase my first piece of real estate by the age of 27 (at least a condo).

So there it is - my modest but ambitious plan for the next 5 years. Let me know what your thoughts are. Do you think it is realistic and is there any advice you would like to offer me?