Many people tend to bypass the research phase of their search. They prefer simply to get interviews. This makes their search haphazard, lacking in direction. They cannot assess where they are in the search or what they may be doing right or doing wrong. They can also waste a lot of time.
The Information You Need
Information gathering is the basis of all other managerial work, which is why I choose to spend so much of my day doing it. ANDREW S. GROVE, High Output Management
In addition to developing a list of the companies in your target area, think of the other information you will need during your search. Much of the information can be divided into three general categories:
- Industry or profession information
- Company information
- Job information
1. Industry profession information:
- What are the industry profession trends? What is marketable?
- What are the hot issues right now?
- What companies are in this industry? Where do people in this profession work?
- Which companies should I be talking to right now?
- Which are the best ones? What ones should I stay away from?
- Whom should I talk to, by name, at each company? What are his or her hot buttons? What is of interest to him at this time?
- What skills are hot or current? What are the buzzwords in this industry or profession?
2. Company Information:
For each company, or for a specific company:
- What is the company culture like?
- What is it like to work there?
- What are the growing areas of the company?
- How is the company organized?
- What problems is it facing?
- Who are the strongest competitors?
- How does it stand versus the competition?
3. Job Information:
- What are the normal requirements for someone in this job? What does the company normally look for?
- What are the typical job duties?
- What does this job usually pay?
- How do I compare with others who would want this job?
- What are the job possibilities for someone like me?
- What do I have that's marketable?
Networking Vs Library Research
Some people avoid research. Others spend all their time on research and avoid networking: they would rather not talk to anyone. Good research is accomplished both through networking interviews and through library and other research. It is not a good idea to try to get all of your information through networking. In this competitive market, research before a networking interview so you will get the most out of the interview and not irritate the interviewer.
Why Is Research Important?
Research is a solid way to develop a list of your target companies; then you can decide how to contact them and can measure your progress against this list. Research will improve your networking and interviewing skills, and increase your confidence during interviews. You will create a good impression, and look like an insider rather than like someone who is trying to break in. Research will give you an edge over your competition and help you decide which company to join.
Library Research
Find a university or big city library that's conveniently located and has an extensive business collection. You will not be completely on your own: librarians are often expert at helping job hunters, so plan to spend some time with the business reference librarian. Be specific: tell the librarian what you are looking to accomplish. Get comfortable with the environment. Spend time using the reference books. Photocopy articles you can read at home.
Most job hunters need to set aside at least two full days strictly for library research. As you research, you will get a better feel for your target market. As you record information, the people you list will begin to seem more real to you, and you will write better cover letters and do better in your interviews. Lots of companies will not interest you, and you will not include them on your list. While you research, you will think of other organizations to contact and possible job targets.
Be organized about it: do not spend your time reading everything of interest in the library. Remember that you are there to do a job. Do it.
Selecting Industries And Professions
If you are not sure of the industry or profession you want to pursue, spend two days researching it. Where would you like to work: in a public or private corporation (what size?), not for profit (government agencies, foundations, groups to help people in need, policy analysis groups, professional and trade groups, arts institutions, academia, hospitals or other health care organizations), elsewhere? In which geographic area do you want to work?
To research professions, you can use the Dictionary of Occupational Titles, the Occupational Outlook Handbook, the Encyclopedia of Careers & Vocational Guidance, and trade publications and magazine articles about various professions.
One of my favorite reference books is the Encyclopedia of Business Information Sources. It lists industry fields, such as "oil" or "finance" or "real estate." Under each are listed the most important periodicals, books, and associations devoted to that field, so I can quickly research any field in depth. The U.S. Department of Labor also reports on various industries and professions.
After Selecting Tentative Industries Or Professions
Once you've identified industries, tell the librarian the particular industry you are interested in. Also look at trade publications for information on the industry; you may find company names and the names of principals only sporadically, or they may have a listing in an annual issue. Use the Standard Industrial Classification (SIC) code to identify specific companies to target within the geographic area you have chosen. Look in reference books such as the Million Dollar Directory, Standard & Poor's, Fortune magazine, Forbes, the Business Index, or Directories in Print.
Do not neglect to research small businesses. Consider the INC magazine 1000 or simply be alert to small companies that get publicity or that you may hear about. Ask the librarian if there is a directory of some of these fledgling industries.
