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Business Plan for “You, Inc.”

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1 Business Plan for “You, Inc.”
Best Practices for Evaluating Fellowship or Job Opportunities Business Plan for “You, Inc.” Orientation presentation TEST RUN FOR A POSSIBLE ACHE PRESENTATION Modeled after a traditional business planning concepts employed by many entities, the purposes of this plan are to prepare you through a careful articulation of an effective resume; develop effective cover letters; understand your skills, strengths and weaknesses; and utilize best practices to assist you in the search of that desired Internship, Fellowship, Practicum or first or subsequent career opportunity and assist in choosing the best opportunity for you. A business plan will initially be prepared, or updated, for any search for a new opportunity, whether it is an Internship. Fellowship, practicum, first or subsequent career opportunity After presentation and prioritization of all preliminary steps outlined in the business plan, it is recommended that the plan be reviewed and thoroughly discussed with a “coach.” This “coach” can be a faculty member, advisor, family member, peer, colleague, or other individual in whom you have confidence that the review will be unbiased and forthright. The Business plan for “You, Inc.” will be written by you, the “owner,” in consultation with the faculty colleagues, friends, family, mentors, coaches, and others who know you well and can contribute to the review and deliberative process.

2 Format for Business Plan
Summary Who, What , Where, When, Why and How How do these opportunities help you be the person you desire to be Identify conflicts of interest or negative reasons not to take the position 4. Identify contacts who can be helpful in the search 5. Review potential challenges and benefits Basic Reporter’s questions. Like the basic food groups (Vegetables, Fruits, Grains, Dairy and Protein) The results of the use of this planning process should indicate how these opportunities will support accomplishment of your personal mission, vision and values and the enablement of your career objectives and assist in your choice of the best opportunity for you from multiple opportunities that may be available to you. Profit motive, religious preferences, geographical weather, etc. Identification of possible contacts to be helpful in each search process (parents, faculty members, colleagues, classmates, search consultants, etc.). Talk later about this: slide 17?

3 Business Plan (cont’d)
B. Brief description of “You, Inc.” C. Relationship between MVV and Career Objective 1. Mission: What drives you to lead? 2. Vision: Role you aspire to realize 3. Values: 203 values describing you 4. Research/compare personal and corporate MVV 5. Research current and recent news articles 6. Network with individuals who know 7. How do these opportunities allow you to realize your career objectives 8. No perfect fit! 1. Develop your own Personal Mission, Vision and Values Statement Mission: What drives you to be a healthcare leader Vision: What role does your desire to play as a healthcare leader Values: What 2 or 3 value statements describe you Research and review the mission, vision, values, financial statements, goals and objectives of the employer, sponsor, etc., of the Internship, Fellowship, Practicum or first or subsequent career opportunity. 8. Recognize that there is “no perfect fit.” Compare and contrast your personal mission, vision and value statements with the employer’s/sponsor’s mission, vision and values statements: How close are you to realizing your personal mission?

4 Business Plan (cont’d)
D. Opportunity Assessment 1. What do you plan to accomplish by taking one of these opportunities? 2. Constraints of your experience: Your Professional Portfolio 3. External Assessment a. Location, size of entity, community b. SRPH/MHA experience c. Application and decision processes 1. 2. Constraints of your experience – Skills held/needed (Professional Portfolio match). Be sure it is current with competencies assessments. 3. Detailed description of the opportunities (e.g., role, location, geography, size of community, etc.) History of entity with SRPH graduates/other MHA graduate school relationships; advancement opportunities (speed and opportunity); mentorship/development opportunities within the organization and willingness to develop. Know and understand the application and decision making processes and the timetable for decisions.

5 Business Plan (cont’d)
d. financial strength e. educational commitment 4. Personal Assessment a. Your skills compared to the entity b. Your academic work and prior work experience 5. Review available information 6. Research and rehearse questions for you to ask when chance presented 7. Respond to questions with longitudinal view; show job growth/engagement d. Financial strength of the employer/sponsor; history of the organization; educational trail/philosophy of the organization/sponsor. 4. Your particular skills/interests/philosophies compared to the sponsor Your preparation for the opportunity-Reflect on academic and prior work experience to assist the employer(s)/sponsor(s) in solving problems 5. Research and rehearse questions for you to ask in the interview when given a chance 6. 7. Respond to questions (e.g., describe your greatest success) with a longitudinal perspective (at employer “B” I was able to do ‘y” after learning how at employer “A”). Show consistent job growth and that you are not a “one trick pony.”

6 Business Plan (cont’d)
E. Opportunity Considerations 1. Employment offer/terms/contract 2. Licensure, certifications required 3. Professional Credentials required 4. Opportunity to stay on and grow 5. Does this help your career journey 6. Visa issues, if any 7. Salary, benefits, relocation expenses Nursing Home Administrator license ACHE, MGMA, HFMA, IHI, etc. Track record of prior Fellows/Job holders - Just in case, citizenship issues.

7 Business Plan (cont’d)
F. Resource Analysis 1. What do I have to do to get this Job or Fellowship a. Resume b. Cover Letter c. Application d. References e. Personal and Professional Network f. Scan sources and referrals g. Secure Interviews, phone/SKYPE, on site, etc.

8 Business Plan (cont’d)
h. Contacts and references i. “Elevator” presentation j. How to get past the screening mechanisms k. “Closing Argument” for the cover letter and the interview l. Polish interview skills m. Personal statement preparation n. LinkedIn or Plaxo connections k. How do you close the deal!?!

9 Business Plan (cont’d)
o. Social media concerns p. Credit Checks q. “Distinguishing” characteristic identification and discussion 2. Preparation a. Research structure( for/not for-profit, academic, religious, etc.) b. Accreditation history c. Quality and patient safety standards d. IRS 990 and Schedule H forms e. Schedule 10-K Bita’s presentation Any skeletons in the trunk? (leases, convictions, etc. Q. More later.

10 Business Plan (cont’d)
f. Research individuals associated with the organization g. Research current and recent news events about the organization and individuals associated 3. Interview Preparation a. Rehearse and practice b. Rehearse interview questions, modeling out answers with a close colleague who will be critical c. Mock or Practice interviews (MIRROR)

11 Business Plan (cont’d)
d. Clear and concise statements of of your work; examples; how you can solve problems e. Questions for you to ask interviewers f. Have “feel” for what the employer is looking for in the person g. Respond with a longitudinal view to answers; “One Trick Pony” d. Develop clear and concise examples of results from your prior work efforts, tying together the needs of the organization with your skill set to show how you can solve problems for the organization; cut across multiple experiences, if possible e. Research and rehearse questions for you to ask in the interview when given a chance f. Be sure to know what the employer/sponsor is looking for in the hire: team player, leader, etc. g. Respond to questions (e.g., describe your greatest success) with a longitudinal perspective (at employer B I was able to do [y] after learning how at employer “A”). Show consistent job growth and that you are not a “One trick pony.”

12 Business Plan (cont’d)
Marketing “Your Brand” 1. Personal Brand a. Professional Portfolio Resources b. Resume tailored to the opportunity c. Cover Letter tailored to the opportunity 2. Determine Brand or trademark a. How are your perceived? b. How do I want employers to see me? c. Differentiate yourself 1. Cover letter, resume, and a few examples (or abstracts) of your work Professional Portfolio Document (This version of your portfolio consists of less than 10 pages.). Resume/Cover Letter tailored to the opportunity and the individual to whom it is addressed 2. Actively promoting the brand you’d like to be can help you get your name on the radar of the leaders you need to know and advance your career. (Nemesis: Social Media) How are you perceived: Google your name (using “Google Alerts”); ask former colleagues to give anonymous feedback; use results of any 360 degree evaluations. In 20 words or less answer this question: How do I want employers to see me? Focus on what makes you unique. Think long term. Your brand should reflect the career you want, not the job you have. Image, branding: How do people know/see you? Astute student, class clown, etc. How do you differentiate yourself from other candidates in the same search? What is the one distinguishing characteristic about you that will separate you from all others in the search process? Why?

13 Business Plan (cont’d)
3. Spread the word a. Business related networks b. Your own website c. Communications strategy (ies) d. Get past the screeners? 4. Live and breathe the Brand a. Offline behavior is consistent b. Collaboration/Volunteer for projects c. Make known among those who need to know you 3. d. Challenge: Call for a job, most likely shunted to Human Resources. Call for career counseling, may have a shot at some time with the CEO/Leadership. Not automatic. 4. Make sure your offline behavior is consistent with the brand you want to develop Demonstrate collaboration-volunteer for group projects It’s about making your brand selectively famous among the people who need to know about you

14 Business Plan (cont’d)
5. Resume, LinkedIn, etc. match up H. Communications Plan 1. Target audiences 2. Channels of communications a. Phone b. Electronic mail c. Regular/overnight mail d. Texting e. Business media (LinkedIn, etc.) 3. Attention to Timelines 3. Timelines: Anticipate sponsor needs and not just yours

15 Business Plan (cont’d)
4. Feedback a. Friends, colleagues b. Search Consultants c. Interviewers d. Act on this! 5. Thank You letters for Interviewers a. Handwritten b. Electronic

16 Business Plan (cont’d)
I. Costs of the Search A. Anticipate costs of overnight mail vs. electronic B. Get guidance about airfare, hotel and other expenses C. Ask; don’t guess or assume! Understand the possible cost of documents required for the search: Transcripts, overnight mail, travel, including hotel, car, food and airline costs). Eliminate or lessen these costs by being certain to discuss the expectation of the interviewer/sponsor at the time of discussion about the visit, and not guessing.

17 Business plan(cont’d)
J. Challenges and Consequences 1. What does getting this mean in terms of relocation costs, housing search, family disruption, etc. 2. What does not getting this mean a. Next steps b. What can I do better c. What other opportunities are there 1. If you get the Internship, Fellowship, Practicum or first or subsequent career opportunity, what does that mean in terms of relocation costs, disruption of family, time for housing search, phone changes and the costs related thereto. 2If fail to gain the opportunity desired, How will I now view that decision? What are my next steps? The debrief: What did I do as well as I could? What things might I have done better? What different/remedial steps, if any, are in order for the next opportunity?

18 Business Plan (cont’d)
3. Multi-tasking v. Uni-Directional a. Cannot do a single search at a time b. Many contacts at the same time c. Rules of thumb i. Don’t stop until in the office K. Implementation Plan 1. Results: You're selected/hired 2. First day on the job 3. If in the first year I have exceeded your expectations, what will I have done? 4. Additional personal/professional goals set? 5. Key personal/professional monitors to judge results set

19 Business Plan (cont’d)
L. Follow up Issues 1. Questions about the next steps a. More applicants to interview b. Decision time frame c. Follow-up plans

20 Business Plan (cont’d)
M. Selected Tools 1. Personal Mission, Vinson, and Values Template 2. Longitudinal Resume 3. Questions You Should Ask The Interviewer(s) a. Is there anything you are wondering about my candidacy that I can further clarify? 4. Cover Letter Model and 10 Commandments 5. Avoidable job Search Mistakes

21 Business Plan (cont’d)
N. Unique Characteristic 1. Determine one unique characteristic you want the interviewer(s) to know and remember. a. Interject that in the interview and refer to it several times in the discussion b. As you wrap up the interview, reference this unique characteristic. c. You want them to remember you for this characteristic.

22 Business Plan (copnt’d)
Like a lawyer presenting the case to the jury: a. Opening statement (what I am going to prove to you) b. Presentation of facts (interview back and forth) c. Closing statement (what I have proved to you)

23 Business Plan (cont’d)

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