Before you begin: self-evaluation

Before any major career move, it’s imperative to dispassionately evaluate your current situation. Ask yourself these questions:

• Do you see a path for career advancement at your current job? Why/why not?
• Is the company’s future outlook positive? Why/why not?
• Are you personally happy or unhappy? Why/why not?
• Have you had or do you plan to have a major life-changing event (e.g., a new baby, marriage, divorce, or relocation)?
• Where do you want your career to be in three, five, ten, and twenty years? Does your current position align with those goals?
• Are your relationships with your peers and manager positive? Why/why not?
• Is your work-life balance appropriate? Why/why not?
• Is your compensation in line with the market for your role?
  

A realistic assessment of your current situation will tell you, whether or not you are prepared to move on to your next gig.

There is nothing wrong with standing pat (assuming that is an option); if you move before you’re ready, you will likely take a job that isn’t ideal for you. Remember your goal is to improve your situation. If the situation is forced on you, being prepared is the best, first step in finding a new opportunity.

To make a good evaluation of your current role, call on your mentors. The best mentors are previous managers and other senior colleagues you have come to trust. Be a “people collector,” and ask respected colleagues to serve in a mentorship capacity to you in the future. Often, people are flattered to be asked. It doesn’t mean you’ll phone them tomorrow, but if you do, they are more likely to remember you and be willing to help.

On the flipside, don’t ask everyone to be your mentor. Be choosy, and generally don’t ask peers—only people senior to you. It should go without saying, but don’t ask colleagues at your current company to mentor you until you’re no longer part of the organization.

Farming your network

When it comes to your next career move, remember you should always be “farming.” Farming is related to networking in that both require you to make a lot of connections.

But to be a good farmer, take your network to the next level. A farmer makes a good connection and nurtures it over time.

I set a quarterly event on my calendar to review my contacts and contact those I haven’t talked with in awhile. Take them to lunch (your treat), listen to what they’re up to, and find connections. Water these seeds regularly and your network will organically grow. Over time, your farming will pay off when your network blooms and spreads its seeds on your behalf. This will result in new second-order connections.

Second-order connections are contacts that people in your direct network have made on your behalf. These “trusted introductions” are the single, most powerful job-hunting tool available. LinkedIn is a great tool for this purpose. Every job I’ve had since LinkedIn’s advent has come either through a direct introduction or through my leverage of a secondorder connection from my network. The implied trust of an introduction from someone you trust gets you in the door and bypasses the resume stack sitting on the hiring manager’s desk. In some cases, people will even create a new position for you that didn’t exist, just because they like (and now trust) you.

When I decided I was ready to leave my last big company and go to a startup, I made a “hit list” of small companies in my area. I started with a list of 100 local, venture-funded startups. Then I selected the top 10 companies I wanted to target based on opinions I had already formed of each, their technology and product fit with my experiences, and their size.

Next, I went to LinkedIn and found I was indirectly connected to the VP of Marketing or the CEO at all of my targets. I emailed an introduction of myself (a second-order connection via my connection) to all of them and offered to take them out to lunch or coffee to listen to what they were doing. The email is important—you don’t want to sound desperate for a job, but you want to form a new connection and let them know you’re out there if they are looking for talent with your skills.

Four of the ten executives replied, and I ended up meeting with three of them. I met the VP of Marketing of my top choice and formed a quick connection. As it turned out, they didn’t have a product management team yet, and were beginning to recognize that their current mode of operations wasn’t sustainable.

The VP said the company wasn’t ready to hire anyone, but she would keep in touch. I pinged her about once per month after that. Four months later she called out of the blue and asked me to interview for a position—a role they created for me, based on my resume. They extended an offer and I accepted the following week.

Interviewing and evaluating an offer

The point of your search is to find job opportunities, but also to be found by potential employers. It is no secret that hiring managers and companies make much more lucrative offers to someone they believe they’ve proactively vetted.

I strongly encourage you to raise your online profile through creative marketing. Own your online brand—it’s not about putting yourself out
there to find a job; it’s about being recognized as a “go-to” product management expert. Face-to-face events, such as ProductCamp, are great for showing your depth of expertise.

No one gets a formal request to interview right off the bat anymore. You’ll get an email, probably from Human Resources (HR) or a recruiter, saying they found you online. If you have done your self-assessment, you will already know if this company is one of your targets and why. If you’re interested, ask for an informal meeting with the hiring manager, which may be face-to-face or phone screen.

The phone screen (a.k.a. “the drool test”)

I refer to phone screens as “drool tests.” An employer likes what they see on your online bio, and they want to see if you’re real or if you drool on yourself. Depending on the hiring manager, you’ll get questions ranging from “give me your elevator pitch” to “Why are you leaving (or why did you leave)?”

Take care: Phone screens are meant to eliminate you from consideration, so your goal is a face-to-face meeting with the hiring manager—where you really get the goods on what they want and whether or not it is a match.

The first meeting

After the phone screen, you may have a follow-up meeting. The hiring manager is interested enough to meet you and will try to answer the following questions:

• Is this person worth bringing in to meet the team?
• Can I trust this person?
• How competent is he or she?
• Do we have chemistry? Hint: The questions you ask will impact this.
• How well does his or her skills mesh with my current team?
  

This meeting is pivotal. Use it to determine if you are right for the role and if the company is right for you. You should leave this meeting knowing:

• Is there a fit for me on a personal, role, and company level?
• Can I work for this person?
• Does this role interest me? Why/why not?
• Is this role going to further my career path?
  

These meetings usually involve a gentle give-and-take. And as you build a rapport with the person across the table, you can gradually move to harder-line questions. It’s great to treat this as a customer interview, and ask lots of open-ended questions, such as:

• Can you describe your current process for product management?
• How do you define success for this role in 12 months?
• What is your biggest challenge today? Why?
• What is going to make your company win in this market? Why?
  

It should quickly become apparent whether they are looking for someone with your skills and interests. Often, since Product Management and Product Marketing are confused terms, the hiring manager will ask which role you prefer. Be honest, and talk about why you prefer one over the other.

This meeting will close with an indication of whether or not the hiring manager wants to proceed. If so, he or she will often want you to talk to other people, most likely arranged through the recruiter, at the company location in a more formal interview setting. If you get to that point, the interviewers are there to test the hiring managers’ impressions from the first sit down. And you are more than likely not part of a large candidate pool.

If you are not interested in moving forward, be honest. Shake hands and thank the hiring manager for the opportunity to speak. Say that the position isn’t a match with your skills but you might know some people you can refer (if you do). Move along and keep casting your net.

The compensation discussion

You’ll notice we have not yet talked about compensation. Do not broach the topic. The recruiter will try everything to get you to talk compensation early, but you must, must, must never divulge this information.

Don’t be bullied into revealing your current or historical compensation packages. Current compensation has zero influence on your future compensation and even less relevance on the value you will bring to a new company. The only reason the recruiter wants this information is to “pre-qualify” you—and either rule you out as too high (bad for you) or offer you less (also bad for you). The advantage of not revealing your compensation is that you can negotiate for what you are worth in the market, not what they think you might take based on your current situation. The key to maintaining or increasing your net worth is controlling the compensation discussion, which is done by the information you choose to reveal.

Here are some recruiter tricks to get you to reveal your current compensation plan; don’t fall for them!

• Standard question: “Where are you now with regard to comp?”
• Blocking question: “Before we move any further, I’ll need to get an idea of your compensation.”
• Range question: “What is your compensation range?”
• Process question: “My database won’t let me process your application without your current comp.”

Always turn the question around: “I’m more focused on where I’d like to be than where I am. What is your range for this role?” Recruiters are used to this dance and will usually give you a ballpark range. If not, simply state “I’m competitively and fairly compensated in my current role, and I am sure that if and when we determine there is a mutual fit, we will be able to work out the compensation.” Just remember, if you divulge your compensation, you are potentially giving up a lot of leverage.

At some point, compensation will come to a head and they will demand to know where you stand. It took me far too long in my career to realize I held the cards for this conversation, and I too easily gave up my comp. Remember: If they found you, if they talked to you, if they have their people meeting you—that means you offer them a skill they do not currently have, and you are a hot candidate. They’re not going to let you go without a fight. If they do, you don’t want them anyway!

Some people inflate their current salary when providing a number. I can’t agree with that, but I do advise walking away. It’s a tough conversation; but put it to them this way: “My current level of compensation has no bearing on the value I’m going to bring to you, and therefore is irrelevant. I’m more than happy to discuss where I feel I should be with regard to comp based on the market and your stated range for this role.” If HR still balks, write a courteous note to the hiring manager thanking them for the opportunity and that you don’t feel moving forward would be productive. If the hiring manager cares about you as a candidate, they’ll sort it out with HR.

In a recent job change, I delivered this message at least three times (verbally) after I wasn’t satisfied with the offer, and each time I received a much more lucrative one. It’s a game and regardless of the economic environment, you should still play to win!

The interview

There are a million interviewing resources online that I won’t try to duplicate here other than to say be “old school.” Wear the suit and tie, and present yourself as what you are: an executive. If you’re good enough to be a competent product manager, then talking to your peers at another company should be a relief! It is much easier than talking to customers and discovering new problems, because these are “your people!”

In my most recent interview process, I had several multi-person “panel” interviews, in a small cramped room with just a table and a whiteboard. They were intense, but also very revealing—you can learn much about a culture through just a 30-minute discussion. By the end of each session, we had filled up the whiteboard with process diagrams, use case models, discussions of markets and segmentation, all the good stuff. My personal style is visual; but leverage your strengths to showcase where you shine.

A quick word on the “scenario” interview, which is becoming more in vogue. Here’s an example of one such interview I recently had. The hiring manager brought in two product managers and said:

I’m going to lay out a scenario for you, and I want you to describe what actions you would take as a product manager to make this product a success. You work as a product manager at a reputable company that decided they want to make a paid version of their free, open-source product. What do you do? <gulp!>

These kinds of scenario interview questions are designed to test your adaptability to stress and your ability to think on your feet. Go back to basics and remember your Product Manager/Product Marketing Manager (PM/PMM) training. What makes a process successful or not? Start with the problem, and work from there.

After all of this is done, you will have blown everyone away, and they will thank you for your time. Go decompress.

Evaluating the offer

The hiring manager may call and congratulate you for making the cut, and let you know they will extend you an offer soon. Express your thanks, and wait for the email.

When you get it, make sure it contains at least:

• Base compensation
• Bonus compensation
• Stock options or restricted stock (if applicable)
• Deferred compensation (401k, matching, etc.)
• Benefits info (health/dental plan, paycheck deduction, etc.)
• Personal time off
• Start date
  

Any offer without these is incomplete, and you should follow up to get the details. I like to use Microsoft Excel to model offers and determine how changes to bonus vs. base affect your take-home pay, and also the effect of the cost of health insurance. For example, you can get a bump in total compensation if you get a better health plan at a lower cost. 

Negotiating the best compensation

This is the stage where you finally negotiate. The company has invested so much in you at this point that they will most likely not let you go; in fact, imagine the company’s disappointment in hiring a worldclass PM/PMM who didn’t negotiate their salary. Use resources such as Pragmatic Marketing’s Annual Product Management and Marketing Survey (see page 4 in this issue) to back your case. And remember those statistics are averages—you are above average or they wouldn’t want to hire you. If they push back on going above your “average” curve, remind them of that fact. Be realistic, you’re probably not going to get them to double the offer.

If you have equity in your current company, remember they don’t know the value of your options or the valuation of your company, if privately held. That is a massive lever for you, so use it. Draw a five-year model showing a scenario where your compensation becomes increasingly aggressive based on equity and the fact you have more control over compensation increases in your current role than in some fuzzy future with them. The numbers need to make sense, but it’s another arrow in your quiver if you need to reach for it.

Once you’ve weighed the hard factors around compensation, consider if all of your “soft factor” questions are answered. Are you comfortable with the work environment, people, and culture? You’re good at your current job, and you’ll need to spend time coming up to speed as the “new guy”—are you OK with that? Where are you with your family situation— will your significant other back you up during this vulnerable time in your career?

If you like your answers, accept the offer and set your start date.

Remember: To be successful in business and in life, you need to build more bridges than you burn, so it is important to know the unspoken rules about leaving jobs. While many people claim “it’s just business,” it is personal. Relationships matter so be professional as you leave your current position.

Regardless of the relationship you have with your current company, manager, or peers, it is critical to leave the “right way.” It is a small world, and people have long memories. You want to be the person they remember for all of your good traits, not for storming out the door or for telling your boss to “take this job and….” Remember, these people are your future references and/or mentors, and you might run into them again in another role, or on the street, and want that to be a pleasant meeting.

Ideally, leave with the company in a position to succeed without you, because you’ve set them up with what they need. Your manager will appreciate your willingness to create a smooth handoff.

As you wind down your employment, be respectful. It’s easy to become a “short timer,” so don’t balk at helping out with the tactical activities that will find their way to your door.

Be prepared

The company may choose to escort you to the door, collect your badge, and send you home. Laws vary, but in most of the U.S., the company has broad latitude to “walk” you at any time. It may not be personal—the company now sees you as a security risk, and you have access to sensitive, strategic and roadmap information the company probably does not want outside their walls.

Building bridges

The most important part of the entire career-change process—and the part where you must spend real time and diligence getting right—is building bridges. We succeed and fail on our own merits, but the bridges we’ve built provide a means for people to mentor us when times are tough, avenues to find new opportunities in the future, and countless other benefits. In my measure, nothing is more critical.

The good news is that building and maintaining bridges to your network is not hard. A well-built bridge is solid and ready to be traveled in the future. The best way to build bridges is to follow the process described in this article, and then add a little extra touch.

That extra touch can be anything. At a minimum, it is a thoughtful, personalized, and hand-written thank-you note. In a recent career change, I wrote over 20 thank-you notes to various people with whom I worked.

Think about it—when was the last time one of your co-workers left the company and sent you a note thanking you for the opportunity to work together? It doesn’t happen often enough, and these little touches go a long way toward making people remember you in a positive light. (Note: Be genuine. You aren’t writing these notes in order to be remembered. You’re writing them to thank people for what they did for you.)

The best thank-you notes are personal. My favorite tactic is to pull out a key detail of that person’s work style you enjoyed, and recall a specific example of seeing him or her put it to use. For example, in a recent role, my CTO was passionate about our technology’s potential, and I could recall several strategy sessions where he would enthrall a room full of executives with conversations about what “could be.” In my note, I thanked him for the opportunity to work together, and told him I really enjoyed watching him in action, and I would strive to emulate his passion and ability to excite an audience as I developed my career—all true and accurate statements.

People like to hear they’ve made an impact on you, and you will make them feel good by calling out their most positive aspects. When you call on them again to be your mentor in the future, you will have the added advantage of knowing they think of you fondly, and they will be more likely to help you.

Treat your mentors who guided you through the job-hunting process as extra special cases. In addition to the thank-you note, send something that lets them know their advice was special to you. Go above and beyond—that is what builds bridges.

Starting

As you start your new role, be humble, but confident. They hired you for a reason, so don’t be afraid to speak your mind. Sometimes a fresh perspective can inject new life into an organization; be that catalyst for change. If something seems obvious to you, it may be because the rest of the team has gotten so close to the forest they can’t see the trees. Lead your team with humility.

Finally, don’t forget to start the entire process over. Schedule at least yearly self-evaluations, and continue to farm your network. It is difficult during a new job ramp-up to keep tending the farm, but your contacts will reward you for keeping in touch.

Best of luck in your new role.

Paul Young is a product management professional with more than eight years of experience in technology hardware, software, and services product management and marketing. Currently, he serves as a Senior Product Manager for Software as a Service at Dell, Inc. Previously, he was the Director of Product Management at NetStreams, where he instituted the Pragmatic Marketing Framework, using it to drive more than a dozen successful products and features to market. Paul has also held product management positions with NetSolve and Cisco Systems. Read Paul's Product Beautiful blog or contact him at pt.young@gmail.com