by Linda McIntosh

A very interesting article entitled “Pulling off the Ultimate Career Makeover,” from the July 4, 2011, issue of Fortune, emphasizes the importance of personal reinvention in today’s economy, where career changes are becoming the norm.  The article highlights the stories of five people in various industries who lost their jobs because of changes in business paradigms or layoffs.  Rather than becoming victims to their circumstances, these people took control of their situations and reinvented themselves through “learning by doing.”  Their success stories reveal several strategies for changing careers.

1. Pare down your expenses.  When David Kahn, former Blockbuster franchise owner, realized that his business model was no  longer viable, he downsized his home and vehicle.  He recommends going “into survivor mode.”  After a short stint as a Subway franchise owner, Kahn founded Yogurt Mountain and owns 35 stores.
2. Reevaluate your skill set.  Tom Murray, formerly a strategic development and communications director for a Best Buy subsidiary, charted what he likes to do as well as what he is good at in order to determine his next job move.  This exercise released him from being industry specific.  He now works for PointB, a consulting firm.
3. Exploit the power of social media.  When Mike Merrill was laid off from his job as a sales executive at NetApp, he immediately began reinventing himself through blogging and social media, such as LinkedIn, Facebook, and Twitter.  Merrill eventually landed his current job as director of marketing for ReachLocal, an internet marketing firm, after an employee saw one of his presentations on social media.
4. Consider contract employment.  When the dotcom bubble burst, Mae Tai O’Malley lost her job as an attorney.  She began performing legal work on a contract basis and created her own firm, Paragon Legal, which provides project-based legal assignments in other firms.  Her business model is reshaping the legal industry.
5. Update your technical skills.  When mystery writer Paul Levine realized that the sale of used books on Amazon would severely diminish his royalty income, he accessed Amazon’s “Direct Publishing” page to learn the art of e-publishing.  Levine bought the rights to his out-of-print books and now e-publishes both his new works and his formerly published books on the internet.

Of all the strategies explored in the article, exploiting the power of social media was the most important strategy for making a career change.  The “Social Media as a Career Tool” page on the [1] www.brokebutnotforlong.org website is an excellent resource for personal reinvention.  In fact, the website provides a myriad of information about job searching in today’s market.  Additionally, they have a newly formed group on [2] LinkedIn.com to engage job seekers in discussion of the use of social media.

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