Who said business is not personal? It cannot get more personal

I have always wondered why some people are more successful than other (I mean, most other) people. It is probably a combination of personal charm, smartness, a lot of hard-work, and some luck. But when it comes to leadership the qualities are probably the same, and it’s really less about what you do but more about who you are (as a person): passionate, visionary, engaging, motivating. Think about any leader around you. When a great leader speaks, you listen with all ears, you can’t wait to learn more, you are inspired to think, you can identify with his/her stories, and you want to follow, and you want to take actions.

Our Vice Chairman spoke at a town hall earlier this week on where we stand with our business today and what we will need to do in Q4 in order to meet our targets for 2011. He is a native British with a great deal of humor and personal charisma. When he was highlighting our significant sales performance back in April (best month of the year) he mentioned he “posted the chart on his bathroom door” and “his wife has the same chart tattooed on her back”. It was a joke obviously. Everyone laughed. But the important thing is, guaranteed, there is no way you will forget about this bar chart from April and it will haunt you and drive you for better performance for the rest of the year.

Personally I have always loved leaders who have this “sense of urgency”, which gets reflected in the way they think and the way they talk. I recently watched an interview with Meg Whitman, one of the Fortune top 50 most powerful women in business, the new CEO for HP, former CEO for eBay, and the candidate for Governor of California in 2009-2010, where she commented that politics is tougher than business because politics is very personal (think about personal attacks/no privacy etc). However she goes on to explain that when answering questions in politics, you get away with the so-called “political spin”, which is both expected and accepted by the public; however if you do the same with your employees in a business environment, you will be walked out of the door!

What they won’t tell you about job hunting!

Previously I wrote several articles on job hunting and career advancement but today I would like to share with you a couple of new insights that I have gathered over the past few months that particularly address HOW NOT TO FALL INTO THE TRAPS of so-called job hunting tips. You probably know many of these already, or you may be doing exactly the opposite of these, but it’s okay. These ideas should become common sense to you after you finish reading this piece, so bear with me.

 

1. Recruiters are only helpful when they need you, not when you need them!

The No.1 myth about job hunting is that “headhunters are angels and they will help you to land your next dream job”. Not exactly. First you need to understand how they actually profit from their job. They don’t earn any money from you directly but if the firm decides to hire you then they get paid by the firm. Which means, they will ONLY WANT TO HELP YOU if they think (or better yet, are certain) that you have a very good chance of getting the job! So if you are desperately in need of a job or you don’t necessarily have a strong profile or you behave as if you are hesitant, insecure, and not-that-confident, then the recruiters have absolutely no incentive to help you get connected (it’s sad but that’s the hard truth). This is exactly why you will ALWAYS get the most headhunter calls when you are still at your CURRENT JOB. If you already have a job, which means you are hirable, it immediately makes you more attractive. Does that make sense?

So if you have quitted your previous job or that you just graduated from b-school, you should honestly focus your time, as much as you can, away from recruiters. The only exception is that, i.e. on your LinkedIn profile you have already exhibited a proven strong track record of consistent top performance at multiple big firms, then whether or not you are currently employed is less of an issue.

Good Manager and more: 5 things you wanna see in your boss

BEING AN ASSOCIATE is an awkward stage in your professional life; and I think you would agree with me on this. It’s like being a sophomore in college: All of a sudden you don’t receive as much attention as those excited-about-everything Freshmen anymore; at the same time you are still not “experienced” or “qualified” enough to apply to those internships/programs specifically designed for Junior and Seniors.

A couple of examples in line with this:

• In Objective Settings you are expected to use language like “take a leadership role in this project”, but you should be very cautious with language like “managing the project or the team” – Right, if you (being an Associate) are managing the team, why do they need a Director?
• The VP who used to be your supervisor now reports to the same boss as you do. But while the VP is participating in management training programs, you are left behind doing the VP’s job.
• You are responsible for the quality of the work done by your Analyst but he/she doesn’t report to you, so most of the times, he/she doesn’t give a sh** of what you say or intend to have him/her do.
• Let me STRESS that all the above don’t happen often at all in my own case, but nevertheless I guarantee you this is quite universal otherwise.

I consider myself as lucky to be on this assignment overseas.

Most Effective Tips on How to Write Follow up Emails

Dear Danye,

I really want to hear your insights on how to follow up with people I just met with such as alumni or high profile people. After the first acquaintance, I usually don’t know what to say to them through email or phone since we barely see each other. At the same time, I’m afraid that too many emails of questions or holiday wishes would annoy them. But I want to make a good impression because I may need their help at some point. Would you please elaborate how you maintain the relationship with your contacts?

Thank you – N

Another great question from Ask Danye, you guys are really awesome awesome inspirations! And I want to reassure you that the very fact you are writing this email to me means you take initiatives and that you are on the right track: yes, you do need to reach out to people BEFORE you actually need help from them. And here’s how to do it:

• Make it extremely easy for them
• Keep it very short (the 3 steps)
• Watch your tone (some do’s and don’ts)
• Write it already

Make it extremely easy for them

Senior people are busy people, so if you want them to do just about anything in the world, you need to make it super easy for them. I recently coordinated with HR, Yale Alums at my firm, and Women Initiatives for an informational/networking/recruiting event with Smart Woman Securities, a women organization from Yale. I pushed very hard for the event to happen obviously since we don’t really recruit on campus, and there’s tons of coordination work. But I got affirmative response from EVERY SINGLE person I reached out to and everyone is super excited to help me, even Harvard alums!

How to break into a conversation (and what to do when you cannot)

Dear Danye,

Nice blog! Very informative and definitely helpful to me who is approaching graduation in a few months.

I read several articles of yours and wonder if you have talked about how to stand out in a conversation/info session where people are beyond talkative. I mean, I don’t think I’m a quiet person but I got frustrated at times when I couldn’t break into a conversation because they talk non-stop. Any tips to out-talk these people or be memorable in a good way (through talking etc)?

Thanks – K

I received the above message through Ask Danye a couple of days ago. Great great question, and probably quite a popular concern among many us young professionals and particularly women and internationals. So let me go through my thought process with you regarding this issue, and share some practical tips you can apply to your situation right away.

 

5 Practical Tips on BREAKING INTO A CONVERSATION

 

1. Understand your goals

It is important to understand, first of all, that you don’t always have to break into a conversation, especially if this very process gives you mental pressure. You should only focus on the situations when people are discussing important stuff (of course you need to decide what is important for you), and you should only even TRY to break into it when you actually have something important to say. 

10 Things I Learned about Managing Work Relationships (and Yourself)

Let’s get started, and if you miss anything else on my blog, this is a MUST READ for 2011!

1. Success is a by-product.

Very few people start off their career knowing what they really want to do. But those who eventually become wildly successful are usually the ones who started off “having fun” with what they do. Having a genuine interest to “play with it” makes it so much easier for you to put passion and efforts into it, and gradually you build up your expertise along the way and naturally you become successful in due time.

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2. It’s all about reactions.

Sometimes it may have to do with luck, but it’s very rare and almost impossible that luck is always on your side. I know it’s been several years, but Stay Hungry Stay Foolish by Steve Jobs is a must read. You don’t need to get cancer yourself to realize what’s important in life.

Are you satisfied with your job and what are you looking for?

Apparently I was randomly selected from my college to participate in the 2010 National Survey of Recent College Graduates conducted by the National Science Foundation (NSF), and in the email it specifies that they cannot substitute another person for me given the process. I was also told that this important national study is the only source of data on the post graduation plans and experiences of recent graduates with bachelor’s or master’s degrees in natural sciences, social sciences, engineering, and health fields.

All sounds very interesting. But I want to direct your attention to one of the questions they asked me during the survey:

How much are you satisfied with your current job in the following respective aspects? And also, with a scale of 1-5, how would you rate the importance of each aspect to you?

In case you are one of those debating over several options, I want to list the 9 aspects below and my personal takeaways for each aspect, and to give you an idea of what questions you should ask yourself and your potential future colleagues, before making a decision on joining the firm/or switching to something else.

• Salary
  • An entry level base of 65,000 vs. 70,000 may not be a big difference, but a base of 45,000 vs. 70,000 would much likely raise a bigger question mark.
  • How much is the rough increase every year?
  • What is the industry-level pay for this type of position? Is the pay scale above or below average? How about bonus level?

What if your boss doesn’t give you good projects?

This article applies to many scenarios outside of work as well, just as a FYI. Ok, so I happen to love all my managers across teams, but I realized only recently that this is a very rare case. 

Most people don’t really like their manager. And by boss/managers I mean those who are higher (even slightly higher) up than you along the corporate hierarchy. After all, he/she is the person who gives you shitty work, or who decides whether your next project will be actually high-profile, or who complains when you are late in the morning or you leave before your analyst at night, and probably the scariest part of all, who runs your performance evaluation and determines your bonus.

 

You are lucky if you have a manager half as friendly, reasonable and approachable as mine (seriously), but chances are you don’t have one like that. So you are scared of your manager, one way or another. Managers, on the other hand, may have given up on being likable either. I am not saying this is the right thing to do but they simply don’t have to care that much. I mean, they don’t NEED you to like them; they are your boss regardless.

Of course you can simply quit and join another team/firm, but there is no guarantee this will not happen again. So what I really want to talk about today is how to deal with a manager (or anyone) who is (at least in your mind) a total disaster and almost impossible, and who (in your mind) wants to secretly jeopardize your career and ruin your life!

 

You don’t know their intentions and you naturally assume the worst

 

Top 10 Tips on Getting an Internship & Job

Firstly some updates from me: I know I have been writing about job hunting/networking a lot these days, but coming up next~~~ a post on writing new year objectives for young professionals, and then another post on some exciting advancement in my own career and how I managed to get there!

Also if you like what you see, you might want to consider “subscribing” to my blog via RSS or email, see top right on this web page! And help me to share or tweet the posts you enjoyed reading!

 

Now back to job-hunting~~~

It’s about the time of the year that college students start to get super worried about their “future”, and I feel obliged to write another article on job hunting. A few ladies recently reached out to me for more advice on getting an internship or full-time job (thanks again for complimenting on my blog btw, I am glad if my posts did help you in any way). And before you reach out directly to me again, READ THIS POST!

Please go directly to No.3 on the list if you are in a hurry.

 

Tips on effective networking for women

I had the opportunity to be involved in a couple of women initiatives recently, and I realized how frustrating and confusing the whole experience of networking may be to some women. Today I’d like to write about how to effectively network as a woman, and as a young professional, especially in industries most likely still dominated by men.

 

Forget about emotional connection for a second

One of the most important difference between how men and women network which I recently discovered is that men connect with each other instantly from a networking perspective, while women tend to connect first from an emotional angle, which could be a powerful thing in a longer-term oriented relationship, but not necessarily effective in a social setting. Many times after a conference or gathering event, men will walk away with business cards, and a list of names he can contact for his new business idea or who will help to advance his career or to land his next job; while women might walk away only to discover she spent most of her time talking about food, clothes, recent movies, or even kids, and she still doesn’t know too much about the other person she just spent 20 minutes with!

There’s a recent article on BNET on the right mindset of networking: to perceive networking as a skill not a task, which means you should develop your networking skills quite consciously. Given that mindset, it will be easier to talk to a total stranger in a more efficient and effective way (and not feeling awkward) when you start asking questions about his/her career, ambitions, recent development, long-term plans, suggestions, how to get there, etc. Most importantly, try to walk away with “how you can help them do better in what they do” as well as “how they can help you do better in what you do.”

Best of 2010, and Preview of 2011

I have kept blogs in a variety of places before and this is the first and only time the website sent me a stats summary with such details for the bygone year. For the constant thrive to optimize user experience and the degree of dedication, I want to first thank WordPress for offering me, and many other bloggers in this world, an intimate place to pursue our passions, to share our curiosities, and to develop a legacy. 

I also want to take the opportunity to appreciate every one of you who has stopped by my blog over the past year. For those who have commented on my posts, cheered for me on my facebook walls, left a message to me on LinkedIn and Gtalk, followed me on Google Reader, or mentioned my blog to me face-to-face, I want to thank you for being my constant motivation and inspiration. Your encouragement means the world to me.

Started in mid-April 2010, the blog had 70 new posts and was viewed about 21,000 times over the course of 2010. Not bad for the first year I have to say. Thanks for sharing this with me.

Here are my Top Posts of the Year:

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10. This is the kind of email I WILL respond to!

This was an introduction email on career opportunity that I have been waiting for. As I know most people are still struggling on how to effectively network and communicate, I figured it was a good idea to share the email and my interpretation with you. 

This is the kind of email I WILL respond to!

Dear Danye,

I came across your profile on linkedIn while going through the ‘Business & Jobs New York’ group, and you came across as a great person to connect with. I am writing to you because I am really interested in joining the XXX Group at XXX Firm and would really appreciate getting some insights from your end. I have been making online applications to this group and nothing has come up so far.

To give you a brief overview of my background; I graduated from XXX College with a bachelors in Economics/computer science, joined XXX Bank prime brokerage group for over a year then XXX’s wealth management as a Client Service analyst for a couple of months. Thereafter I went to graduate school at XXX University where I received my masters in Financial Economics.

I would like to forward you my resume for critique and directives. Kindly let me know if you will be willing to assist me. Your advice and time would be invaluable.

Many thanks and I look forward to hearing from you.

ABC

Of course, this is a very articulate and well-written letter. Now, why do I have an incentive to write back to this person, among all others? Because he/she perfectly answered three big questions in my little head whenever I am reading such letters.

Can we just have a normal conversation?

A few days ago I updated my facebook status to “Sometimes I don’t understand why people just can’t carry on some normal conversation”, and I got the following comments from my lovely friends: 

• Because normal conversation is boring. (Really? Why I thought this is the best and ONLY way to really get to know anybody at all?)
• How normal are you talking about, define normal? (Right, nowadays everyone needs a definition to be on the same page about almost everything)
• I don’t know what a normal conversation is. I just can’t comprehend! (Knowing the person who wrote this, that totally makes sense! Kidding, I like people who can make fun of themselves. Not being too serious about yourself is the only way you can be serious about WHAT YOU DO)
• Because there is a shadow in everybody’s mind. Or they are just not that into you (Good point, and probably true)

But since when do you need to be into someone at all to simply start a conversation? Is this really about the post-dating age where attraction is not identified by being asked on a dinner + movie date, but hided in multiple incidents of “do you want to come along to this happy hour thing?” or “my friend is having a birthday you’re welcome to join?”

What can possibly go wrong with your resume?

We have been hiring in our group and the resume screening process is kind of fun. I know there are many articles all over the place on how to write a perfect resume and I can tell many of the resumes I’ve seen have tried very hard to follow these rules. But then, what can possibly still go wrong?

 

1)      What the hell is that experience on top of your resume?

Wharton MBA, 4.0 GPA, absolutely impressive. And all the other work experience only makes him more qualified for the job. Wait, but his most recent position for the last 8 months is in MUSIC PRODUCTION? It’s not that you can’t try something new about your life, but why is this RELEVANT TO THIS JOB that you’re applying? You can be a very artsy person or a super talented guitar player and that’s probably even a plus, and it could become a very entertaining topic at the interview. But it’s usually a BAD idea to put this in bold letters on the TOP of your resume applying for a job in a totally different industry, because people will have a REALLY HARD time making the connections. 

Your resume represents who you are before you get a chance to convince anyone face-to-face. You want to make it REALLY EASY for the resume screeners to pick you. 

2)      Those two lines at the bottom of your resume

What can you do today to make your tomorrow easier?

I would like to share with you the most concise and brilliant answer to this question which I just learned this past weekend. I owe it to Mr. Xinjun Liang, the CEO and Vice Chairman of Fosun Group, and I agree with every single point of the 4 points he made below.

Money (钱)

This is not about how much money you are making today or how much money you can make tomorrow. This is about if there are people out there having the money and having a belief in you, so that one day when you need to make a bigger decision about your career, i.e. start your own enterprise, you don’t need to worry about the initial funding. 

People (人)

What does an interviewer really want to know?

I am not a recruiter myself but as our group finally started hiring again, I had the opportunity to sit on the other side of the table a couple of times recently. There are many articles out there on “must prepare interview questions”, “how to ace an interview”, etc, many of which are quite helpful. Yet what I want to focus on today is the fundamental questions an interviewer wants to answer during his/her conversations with you.

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• Common Sense: Can you help me to make sense of your experiences?

You will probably say: everything is on my resume. That is not enough. You need to help the interviewer to “connect the dots” and to tell good stories so he will understand why you worked at A before, and then B, and then C. You also need to answer the questions of why you want to move from consulting to investment management, and why from SF to NY, and how your past experiences relate to what you are doing today and your future goals.

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• Motivation: Is this what you really want for yourself, NOW?

So Can I Pick Your Brain?

You probably don’t realize how much people are actually willing to talk about themselves in front of other people (in most cases).

If you ask “so can I pick your brain?” to a random person at an event, you will probably get a really weird look and a firm “no”. But if you walk up to him and say, “It’s a cool venue isn’t it? How do you know about this event/what brings you here?” chances are you will find out a lot more about that person than you would have possibly expected.

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Honestly people love talking about themselves, because first of all, it’s about themselves, meaning: it’s more fun, more important, and more relevant. Second of all, you should help them to understand better how great they are and how interesting their stories are, so they will be even more willing to share their experiences, if not already. And how do you do that? First you listen, then you relate to them, you find common grounds, and you resonate with their stories.

I don’t really know you but I added you anyway

I remember when facebook first came out the second semester of my freshman year, people suddenly stopped talking to each other on phones, or after class, or even in the dining halls (that’s probably exaggerated). But the point is, people started posting on each other’s walls with the most mundane things in life you could possibly ever think: from checking which history section you signed up for, asking where you are traveling for spring break, to confirm that you will go to the same social event that evening…

And yes, she/he is your suitemate right next door.

It is amazing how people are so comfortable hiding themselves behind the computer screen even when talking to those whom they are very familiar with. And it is striking how people worry less about personal privacy than the fact that they are not popular enough. Of course there are multiple upgrades and revisions since the invention of facebook to enhance the user’s experience with privacy, but these measures have not and will not stop those who want to stalk other people, and the fascinating thing is that at least for some people, they don’t really mind others stalking.

How you know you belong to Finance…

The following is from my lovely, sweet, and dearest colleague Esther Kim and I resonate with so many things she has said below:

You know you’re a true financial analyst in New York city when you know:

 
·         the late-night security guard by name
·         how to fix all kinds of printer problems
·         if you can’t fix it, you know 4 back-up printers in your building
·         that the starbuck’s staff notices when you’re taking a day off
·         your co-worker’s favorite work outfit
·         when to go get water and use the restroom to avoid bumping into people you prefer not to small-talk with while you take care business
·         which fruit stand sells the best fruit
·         at what speed to walk in order to catch your next subway when transferring
·         your cabinet has a full inventory of eye-drops, some for of Excedrin, and a week’s worth of power-bars
·         you have failed to find a way to stay away during long meetings after an all-nighter
·         which conference rooms are always freezing
·         been asked to do the Vending Machine challenge
·         you can’t use any other font style other than the one used at your firms
·         you want to say “going forward” instead of “from now on” and “month-end” instead of “end of the month” when talking with your friends outside of work
·         you don’t have friends outside of work
·         how to turn pages at rapid pace without drying your fingers

·         when to pull out your metro card and how to swipe without slowing down at the turnstill
·         know who will notice if you sat in his chair
·         when to order food to get the fastest delivery
·         quirky eating and sleeping habits of your cub-mates

The Shape of Your Career Path

One of our clients asked our portfolio manager in opportunistic strategies during the meeting today: the role of your team, even at junior level, seems to require a lot of complicated skills and experiences, how come you are comfortable hiring fresh grads?

 

Well I would probably answer for him: they’re cheaper to hire and more willing to work long hours…joking, but I was actually delighted to find out how the portfolio manager put his perspective into picture: let’s call it “the shape of your career path”.

 

Which is actually a sandglass.

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