Who knew that a poker player had some great advice on making major career change decisions? This summer, I read Annie Duke’s latest book on decision-making, “Quit: The Power of Knowing When to Walk Away.” As a professional poker player, Duke’s world requires her to make frequent decisions about quitting—does she stay or does she fold? She’s devised a framework for these decisions, akin to leaving a poker table after reaching a predetermined loss. Setting predefined exit points makes walking away easier under pressure. Interestingly, this philosophy extends beyond business realms. The underlying truth is that the most successful individuals embrace career change decisions regularly. They minimize losses swiftly and move forward to new levels in the organization or new companies. They don’t sit there stuck in a miserable job.
Notably, the most successful companies are always innovating and trying new ideas. For example, Amazon continually experiments with fresh concepts and ventures, acknowledging that most will require closure. Duke proposes that quitting should be reframed as essential to success rather than viewed solely as a failure. However, the crux lies in discerning when to make these pivotal career change decisions.
To start, let’s consider a common career change decision: Should you continue with your current job, or is it time for a new career? The fact that you’re reading this blog indicates you’re contemplating greener pastures.
Perhaps you’re straddling the fence, pondering if it’s the right time to explore a more engaging or lucrative career path. According to Duke, the research indicates that when individuals are on the fence about their current job, opting for a career change often leads to greater happiness. So in other words, when in doubt, quit! Nonetheless, as a life coach, I advocate exercising caution. Ensure you’ve secured a new position with a signed contract or agreement before you tell your boss your quitting!
Now, what are the signs that may suggest your readiness for a career change? These indicators might guide you toward making well-informed career change decisions.
1. Quitting Isn’t Failure
Acknowledging the significance of career change decisions is pivotal. Recognize that quitting isn’t synonymous with giving up; it’s a strategic pivot toward growth. Remaining in a stagnant role can hinder both your personal and professional development. When you grasp that quitting isn’t an admission of defeat, you’re positioning yourself for a more successful trajectory.
Here’s a career change story from one of our life coaching clients…
Alex found himself entangled in a secure yet draining government job that stifled his creativity. Though the prospect of quitting seemed daunting, Alex realized he had skills and talents that would never see the light of day in his current role. He realized that he had to make some tough career change decisions. Finally, after careful deliberation and taking various career assessment tests, he opted to work in an entirely new industry that would enable him to be more creative. Now Alex is flourishing as a graphic designer, which combined his artistic passion with a rewarding profession.
2. The Decision-Making Process
Much like a poker player setting exit points, you can tailor a strategy for your own career change decisions. Charting your course involves evaluating multiple elements that make up an ideal career. What are your long-term aspirations? Does your current role align with your natural talents and abilities?
Does it align with your core values and goals? Consider financial aspects alongside emotional well-being. Then, craft a comprehensive checklist that steers you through the factors pivotal for informed career change decisions.
3. Alleviate Your Fears and Concerns
Quitting often evokes apprehension due to the unknown. It is perfectly natural and normal to fear the unknown. However, you can address these concerns head-on by building a safety net. Create a financial cushion, update your resume, and refine skills that will make you an asset in your desired field. Remember, taking calculated risks often separates those who thrive from those who stagnate.
4. Tools for Self-Assessment
To gauge your readiness for a career change, embark on a reflective journey. For example, identify elements of your current job that resonate with you, and pinpoint those that leave you discontent. Through this self-assessment, you can gain clarity about what you truly seek in your next endeavor. Also, take advantage of online career assessments to find out if you have any hidden talents or abilities that you are unaware of.
5. Transferable Skills
Perhaps a complete career shift isn’t your goal, but rather a lateral move. Uncover skills honed in your current role and discern how they can be harnessed in novel contexts. Your problem-solving skills as a project manager might seamlessly translate to a leadership role in a different industry.
6. Explore Different Scenarios
Career change decisions aren’t the sole solution. Staying put with a strategic plan can yield remarkable results. If your current job has growth potential, talk with your supervisor about your next steps. By addressing concerns openly, you might uncover avenues for a more enriching path within your current organization. Remember, if you are a valued employee, most companies would rather you stay than leave. And, they may even fund additional training that could enable you to work in a different part of the business or take on a different role. So, don’t be afraid to tell your manager what you would like and make a case for why it will help the business.
7. Don’t Underestimate the Emotional Aspect
Remember, recognizing and acknowledging your emotions is vital. Career change decisions blend excitement with uncertainty. So embrace the unknown with optimism! And when anxiety surfaces, remind yourself of the countless success stories born from leaps into uncharted territories.
8. Additional Resources
Satisfy your thirst for knowledge through additional resources. There is a wealth of materials available to inspire and guide you. You might find my book, “Coach Yourself to a New Career” helpful as it is full of exercises to help you discover your ideal career. Or, consider an online course such as the Career Change Kit to discover your hidden talents. And remember, there is no need to struggle in the dark when there are so many excellent resources out there to guide you through your next career change decisions.
Finally, know that you are the orchestrator of your career trajectory, not your boss, not someone in Human Resources. Indeed, armed with a well-defined strategy, a safeguard against uncertainty, and some helpful career assessments, you’re in a stronger position to bid farewell to the old and embrace the new. Yes, detours may emerge, but making career change decisions strategically leads to a more fulfilling life.
