Tying contribution to revenue stream
The ability to connect to the money influx of the company ensures some control over your position and stability.
The ability to connect to the money influx of the company ensures some control over your position and stability. Two elements comprise your ability to do this:
- Discover and track the sources of revenue that sustain your company
- Cultivate connections to those areas
Know revenue sources
Do some diligent research. If the company is public, then many sources are easily accessible on the internet. For information on privately held companies, use fee-paid or subscription services. Be aware that your own manager may not maintain detailed information on the industry or on the direction the company is headed strategically, unless he / she is tied to the inner circle of the decision makers.
Connect to revenue
Sales, customer service, product support and some areas of engineering are all considered connected to revenue. Anyone who daily adds to the company’s ability to stay solvent and profitable is valuable. Any time there is an economic crunch, those who are directly connected to the company’s ability to do business are retained.
There are industries that are known for making money: telecommunications, software, pharmaceuticals etc. You should try to recognise profitable companies and try to associate yourself with them. In industries like advertising where your career might be dependent on a large client, you have to be prepared for the precariousness of these positions.
The only job security you have is your own ability to gain power over your career. This comes from:
- Knowledge of, and a way to gain a connection to, the source of the sustaining financial life of your company
- A reputation for excellence and dependability in what you do
- Connections to people who can make or find places for you that will benefit your career
McKee, S.L. and Walters, B.L., 2002. Transition management: A practical approach to personal and professional development. Prentice Hall.
Guiding principles for decision making
Good managers are often referred to as being decisive. No one can teach it and it is assumed that either you have it or you do not.
Career path framework
Assess your skills, talents, traits and interests, revive your curiosity, reach for a goal, invest in your journey, verify along the way.