One of my favorite former managers, whom I am now fortunate to call a friend, used to say that “hindsight is the only option in the absence of foresight.” Perhaps that’s the reason I can now look back on the first 1.5 decades of my career and offer some insights about personal development.
In our careers, and perhaps in life, we progress through phases:
- thinking that we know everything
- realizing we know very little about anything
- demonstrating that we know a lot about something (or for the fortunate, a small number of things)
- accepting that we can never really be certain about anything, while remaining curious about everything
Previously I have written about specialization and capability development in career progression. In summary, as we follow a single career track our knowledge and proficiency become deeper and narrower, until we jump across to another track. Recently I realized two opposing corollaries to this concept.
The farther we progress on a single career track, two things arise
Pessimist’s view: the number of capabilities that you need to develop in order to advance gets smaller, and the chances that you have to practice or demonstrate them become less frequent. In my first year out of college, I was terrible at everything; pick any one skill and I would have 10 chances a day to practice doing it better (let’s start with “never hitting reply all“). Let’s say you are an executive with 25 years experience in the top decile of your industry, by some generally accepted scorecard. Maybe the thing at the top of your professional development list is “maximizing shareholder value from acquisitions.” Those are going to come along, like, once every 3-5 years? Even if you are in Private Equity or advise on deals you might only be personally responsible for a handful in a year. So the stakes become higher and the at-bats become scarcer. Pretty bleak.
Optimist’s view: your capability profile is positively differentiated from other professionals with equivalent tenure on other tracks, giving you an advantage in “disrupted” organizations. So if you are risk-tolerant enough to jump onto another track after developing significant capabilities, you are likely to find yourself in high demand (and it’s never too early to prepare a transition). Let’s say that on average, across industries, job descriptions for a given equivalent seniority level (e.g., “Vice President”) have 12 qualifications. If you are a top performer in, say, Marketing for a Software firm, and you see that there has been a major disruption in another industry, say, B2C Media or Telecom, you could find yourself in a situation where your skill set is a scarce and valuable asset compared to the incumbents who have been dutifully advancing their proficiency in the set of skills that was most valuable for the previous decade but is now less relevant. Will an executive search committee offer a prominent and strategically important role to an industry outsider in a time of disruption (read: crisis)? That will have to be the subject of another post!
So if you have managed to get this far in the post and are asking yourself, “What does this mean?” Here are is my advice, take it or leave it:
As you advance in your career, stay aware for opportunities to hone your craft, because the most important ones will become less frequent. At the same time, be willing to switch specializations because what is common in one organization could be rare and valuable in another.