Nov. 12, 2007 - Conversation last night between me and my 11-year old son, Jack:
- Jack (age 11): Dad, I've got a social studies project due Friday.
- Harry (age 43): On what?
- Jack: On what I want to be when I grow up.
- Harry: Maybe you can be a professional Nintendo player.
- Jack: Seriously, Dad. What should I be?
- Harry: What are you good at? And what interests you so much that you'd do it for free?
- Jack: Do it for free? No, I gotta get a job. With money.
- Harry: Fine, but just remember that your career only becomes work when you stop having fun. Picking the right job is almost as important as picking the right wife.
- Jack: Rock climbing. That's interesting, and I'm good at it. I think I'd like adventure travel.
- Harry: Ever thought about international business?
- Jack: What?
- Harry: You know, like arranging really cool overseas rock climbing trips for people.
- Jack: Why couldn't I just climb for sport?
- Harry: Well, unless you win a lot, that kind of job might cost you more than it paid.
- Jack: Hmm.
- Harry: By owning a travel company, you could climb rocks and support your family. Plus, I have seen you sell, and you have the gift.
- Jack: Who said anything about selling?
- Harry: Well, you'd have to market your travel company -- possibly to other businesses.
- Jack: Would I need to go to special school to learn how to sell rock climbing trips?
- Harry: No, but you will need to target the right industries. That can involve a little homework.
- Jack: "Industries?"
- Harry: Yeah. Like healthcare, or automotive, or entertainment. An industry is a group of companies that all do the same thing.
- Jack: I don't get it. Why does industry matter?
- Harry: Some industries have more money than others to spend on things like travel.
- Jack: My travel company will be really good. Maybe industry won't matter so much.
- Harry: The heck it won't. True story: In my best month in 2006 I made more money than I did all year long in 2002. And you know what? I was the exact, same person in both instances. I was no smarter in 2006 than I was in 2002.
- Jack: Wow! You must have had a really bad job in 2002!
- Harry: Or a really great job in 2006 -- in a much better industry.
- Jack: What was your industry in 2002?
- Harry: Consulting. Self employed. First year in business. Lousy economy. Very sanctifying.
- Jack: What's your industry now?
- Harry: Executive search. Still a consultative business, but I'm selling something much more clearly defined to a market that already buys what I'm selling. They know what they want already. I don't have to create the demand. It's already there. I don't have to educate my prospects on what I do. They already know. All I have to do is out-hustle my competitors. Same me, different industry. Very different results.
- Jack: I see.
- Harry: Think of it this way: If you were a plant, then choosing the right industry would be like choosing the right soil conditions, in the right climate. And choosing the right company would be like picking the right farm in that environment. Naturally, you want your growth to be managed by a farmer who will nurture you. But a good farmer in bad conditions will do worse than a bad farmer in good conditions. So pick your environment carefully.
- Jack: Got it. Can I have a snack?
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