20 Career Lessons from 20 Years of Work
Practical and actionable tips for your career, finances, health and more
Hey friend,
Today’s newsletter content is going to be something a little different. I will be sharing my most important learnings from a career spanning 20 years.
With no further ado, let’s dive right in:
Career
Know where you are going, and why
1. Have a clear goal, write it down and stick it on the wall
This may sound obvious, but you will be surprised how many people that do NOT have clear goals. Even if they do, the goals are often not written down or documented anywhere which makes it easier to forget about it or not fully commit. Write down your goal on a note (or use an image/visual - this is a powerful technique) and stick it on the wall or someplace where you’ll regularly see and be reminded of your goal.
Personal story: I bought a book called “Which MBA?” from the Economist Intelligence Unit in the year 1999-2000, which featured the world’s best business schools to enable me to dream BIG. It all felt pretty unachievable at the time.
More than a decade later, that dream would become reality.
2. If it happens, it happens… its fate! 🤷♂️
I really don’t agree with this world view, because I believe it leads to passivity and maintains the status quo. You need to make sure that you are in the driving seat and not the passenger seat when it comes to your career. A career is not something that happens to you, it’s something you are actively shaping. You are in full control and the master of your destiny.
3. Seek the help and guidance of others who are aligned to your goals
Look for people who have (successfully) done what you are trying to achieve and seek out their advice. If you are trying to do something completely new that no one around you has done before — do listen to everyone and consider their views — but be cautious whose advice you follow if the person giving you advice has no personal experience in the relevant area.
4. Know when to keep going, and when to stop
“Never giving up” or “giving up after the first failed attempt” are both equally unhelpful approaches, and I’ve found it helpful to strike a balance and use pre-determined action/outcome plans instead. This removes emotions and impulsive behaviour out of the equation when it comes to decision making, and it will limit the downside risk of you digging yourself into a hold if things aren’t going to go your way.
Personal story: While I was at university for my undergrad, I was initially convinced I would be a future M&A investment banker or an equity analyst. I tried numerous times to break into the US investment banks (maybe this will be another post), but eventually I started broadening my application approach towards the retail banks and I found there which played to my strengths.
5. Define milestones and celebrate successes along the way
Taking time to celebrate not just having reached the end-goal, but also milestones along the way can be very helpful for both the individual and those around you. It helps a lot with feeling and acknowledging there your project or endeavour has good traction, and it can also also do wonders for motivation and team spirit.
Once you’re there, make it happen
6. Lay a broad foundation
This is about diversifying your experiences at an early stage in your career. Think in terms of different dimensions: industry, functional role and types of organisations. As you develop more breadth, you will become more well-rounded and lay the foundations for future managerial positions (e.g. generalist vs specialist track). I think of this concept in terms of deferred/delayed gratification vs an immediate rewards and play the long game. A career is a marathon, not a sprint.
7. Double-down on your strengths, limit your weaknesses
There is a typically lot of focus on development plans to address weak areas, but less focus on developing what you are already good at. I would argue the case for doing the exact opposite. (It’s always a good rule of thumb to go against the crowd). Find ways of leveraging your strengths in the roles you take on and keep honing your skills through more advanced practice and training, whilst taking some steps and efforts to address potential weaknesses.
8. Get yourself a mentor, or two
You can accelerate the progress along chosen career path and avoid costly mistakes by taking the advice of others you have gone through the journey before you. I would suggest seeking out a mentor who are a 1-2 levels ahead of you (and not hugely more senior). This will lead to more relatable and actionable interactions and they tend to be more accessible. How do you get a mentor? Just ask the question.
9. Develop multiple specialisms
What tends to happen with many careers is that people have a strong preference for one particular thing only, and chances are they might stick with the same thing for their entire career. This is perfectly fine if it’s your passion and what you want to do, although consider expanding your skill-set and options by focussing on multiple specialisms or interests. Perhaps 3-4 different topics, which ideally are in adjacent or related areas.
Personal story: My own core area is credit cards & payments. My secondary area is customer engagement, customer value and customer success. My third area and interests are: writing, content creation and consulting. The combination of these three are adjacent and complementary skill-sets, which also provides me with versatility and a broader set of future career options.
10. Be nice to everyone
Treat everybody the same. Whether they are the janitor or the CEO of the company, your style and behaviour towards others must be the same whether you are managing upwards, sideways or downwards. Selflessly invest your time in supporting and developing junior staff. Life is a journey of crossing paths, and at some point, you might very well come the same people when the tables have turned. Life is not a competition, but a collaborative exercise.
Outside of work
11. Out of office.
When you go on holiday, make sure you switch off for real. Turn your OOO alert on. Leave your laptop or phone behind, and dedicate your holiday to what it’s meant for. If you keep checking emails and responding to them while on holiday, people will assume that you’re working. Being constantly available is not healthy nor desirable, but rather it signals control issues or a lack of effective delegation. After a sustained period of rest, you will come back invigorated and energised. Don’t self-sabotage this.
12. Maintain a network of people and interests outside your 9-5
Maintain interests and a network of people outside of your 9-5 to ensure you get an exposure and a steady stream of impressions of things that are completely different from your day-to-day. It is not uncommon that your self-identity becomes strongly attached to your professional work, and it’s important to remember that you are not your job. Everything is good in moderations, so ensure that one single activity doesn’t take up all the thought space in your life and maintain a healthy balance of different activities and interactions.
Personal finances
13. Max out your pension plan
Retirement might seem like not the most pressing priority when you’re starting your career, but it’s a wise move to get on the right savings track from the start. Maximise the contributions you can afford to make, and if your company will match additional contributions - go for it. This really starts adding up over time, so the earlier you start doing this the better off you’ll be long-term.
14. Pay down debts aggressively
Logically speaking, if you are able to invest or save your money at a higher rate than what are you being charged for your debts, it makes sense to do so. The reason why I’m a big fan of paying down your debts as quickly as possible through overpayments is not primarily financial. It’s the peace of mind that it will give you to no longer have any debts. Everything will feel a bit lighter and it also affords you take higher risks with other investment and work activities.
15. Keep your overhead costs low
As your income rises over time, avoid increasing your living expenses proportionally and instead use the extra income to save & invest more. By keeping your personal cost base low, you are de-risking your situation even though you might in fact be a high-income earner. It’s different, but a great combination of circumstances to be in.
16. Build up savings and investments
“Save for a rainy day and ensure you have 6 months of savings to cover your expenses” is a popular recommendation. I would say, go much further than this and invest with the goal of never taking out the principal (capital amount). Focus not on the speculative investments, but on investments that provide a return, such as high-yield savings accounts, bonds and dividend stocks. This might seem a bit more “boring”, but boring can be good… the number 1 rule in investments is to avoid loss of capital. Keep doing this and at some point, the income from these activities are going to match your living cost. Be patient, just start and stick with the process.
Health
17. Incorporate exercise and movement in your daily routine
If you have a hectic work schedule, find ways of “snacking” on exercise during the week instead as part of your daily routine. Take the office stairs instead of the elevator. Go for a walk during your lunch break. Cycle to the train station instead of going by bus. Use a standing desk to reduce the amount of time you are sitting down.
18 Drink water instead of sugary drinks
Everybody knows this fact, but what is perhaps less obvious is the impact a long period of time (10-20 years). Think about that for a second, it’s a massive difference when it comes to how much sugar you’ve had, your dentist bills and not at least the cost of all of it. Just fill up your water bottle at the start of the day and sip away. Your future self will thank you making this choice.
19. Invest in a quality bed
Getting 8-9 hours of sleep per night is highly advisable and having a consistent bedtime routine. But what is not talked about enough perhaps, is also the quality of sleep (not just the quantity). Your sleep is directly linked to ability to concentrate, focus and your energy levels - so make yourself a favour and invest in a quality bed. Another good reason to do this is that many people start experiencing back-pain as they grow older, so make sure your bed isn’t one of the contributory reason to this.
20. Give back, and pay it forward
This is the biggest one of them all:
Remember where you came from. Remember the humble beginnings.
Remember everyone who helped and supported you along the way.
And, remember those who did not and thank yourself for not giving up.
That’s it! I am sure there are more than 20 lessons that I’ve learned during my career, but this is everything for now to stay true to the title of this post :-)
Hope you enjoyed reading the content and if you did, please give it a like 💙, share, refer a friend, or leave a comment and let me know what you think. Thanks!