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?

8 comments:

Karup said...

I found this post to be entertaining well at least the road to making your plan for the future, with the changed majors and old plans "ruined!!!" I don't mean any offense by it, if it seems so, it's just my odd sense of humor =\.

On first note, I agree with your theory of getting places in life, and how you must 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." I think that it is so true, that you must know the general requirements and your capacity in terms of those requirements. No two people are alike, hence, no two people will have identical courses of action to achieve their goals. I congratulate you on finding your true calling in Sales, for many college students have a tough time figuring out what industry and field is right for them. I, myself, went through the whole "CIS >> Marketing >> CIS again" phase, and it wasn't pretty.

I like your statement of goals, because they are broad where they need to be (getting a Finance degree) and fairly specific where necessary (your increase in sales per quarter by the end of the year, and how you plan on achieving it). It is also allows breathing room, in the sense that you have given your self a choice of one or another, yet not too many options to pick from. Either you stay with marketing or move on into sales advertising -- clear and concise, somewhat to the point. With these options to pick from, you sum everything up again with the goal for your desired salary and investments (real estate). Very well thought out, Alex, and I think you have a talent for planning, which can come in very handy!

--- Karup

iamdavidz said...

Your goes are totally attainable and I wish you luck in it. I've never been a sales person but I know it takes alot of people skills and management skills to be able to build your own client list. To get to your goal of 400%, I suggest that you ask for refferals from customers you already have. Being a good sales person is very valuable to every type of industry so if you fine tune your skills, you would be set to buy your condo.

Lenny said...

Sounds like you've got everything planned out pretty well for the road you're planning to take. Sales jobs aren't for everybody as I'm sure you know, but if you're already seeing increases in your performance, its only a matter of time until you see even more increases. Obviously networking as much as possible and making new connections is always a must. I don't know if those goals you set for yourself are attainable in as short a period of time, but then again if you're great at what you do then don't let anyone discourage you from reaching your objective.

Alexander the Great said...

Tnx for all your replies and giving me your honest opinion on my post (Kapur, I can hardly imagine anybody laughing out loud about the last serious part of the post - so none taken ;))

I sure hope that I can attain these goals in a short period of 5 years and I will keep up with the progress every year to see where I am going. The hardest part I think is to stick to the goals and not give up no matter how discouraging it gets.

Amy said...

When I started college, I was trying to find myself as well. I started off at Baruch and didnt like it and then I transferred to Binghamton, I ended up not liking it there as well and transferred back to Baruch. Now I'm more focus and I know what I want to major in at least. I guess everyone goes through that phase in figuring out what they want to do in their beginning years of college. I'm glad to see your so determine to accomplishing your goals. Since you like sales so much, why didnt you get major in marketing instead?

Alexander the Great said...

Good question Amy... I have only completely determined that I like sales about a year ago. By that time I have already gone a long way toward completing degree in finance. In addition, I love studying finance and I think that diversifying is a good idea ;)

P.S.
I find it sweet that you'd like to buy a house with your family. As much as I love mine I am too independent to live in the same house with them.

Nick said...

Well Alexander the Great I think it's great that your plans for the future are not set in stone. Some people just get too scared to change their lives after investing a significant amount of time in pursuing certain goals, but not you. I have to say that I admire your courage and dedication to get the most out of life. I hope everything works out for you as you've planned, but even if it doesn't I know you'll overcome the obstacles and make your dreams come true.

Alexander the Great said...

Wow Nick,

Tnx for an inspiring comment :)