Career mapping How to become an executive in the next 5 years Hult Blog

A question most business students and ambitious professionals reflect on is â€Å"Where do I see myself in five years?† In an age of entrepreneurship, you may be drawn to the idea of launching your own business. Or maybe you see yourself in the executive seat of an existing, successful corporation. But how do you get there? As many CEOs are likely to tell you, it isn’t often a straightforward climb. Career mapping involves setting goals and developing skills with a clear progression plan to get yourself where you want to be. And if your goal is to progress to a senior executive position, there are a number of practical steps that can accelerate your journey up the ladder. Corporate advisor, investor, and entrepreneur Kenneth â€Å"Hap† Klopp always knew he wanted to run a business. During an interview for an entry-level role at Procter Gamble as a freshMBA grad, he was asked where he saw himself in five years. He responded that he expected to be the president of the company. Hap went on to serve as the President and CEO of The North Face for over 20 years. Today, we’re delighted to have him as a professor at Hult. In his recent webinar, Hap expands on the steps you need to take to get to where you want to be. He shares his own story as well as anecdotes of the successes—and failures—of companies and CEOs around the world. In this post, we summarize Haps advice in 6 steps. If youd like to watch his webinar and learn more practical tips for mapping your own executive path, you can watch it here: Find the right entry-level role The majority of large company CEOs aren’t brought in as outsiders. Most work their way up internally. Positioning yourself in the right role—and succession of roles—within your company can set you on the right path to the executive suite. Future CEOs often map their career trajectory through substantial operational roles, sometimes running large or international divisions of the company before taking the top job. In some cases, a strong financial background can be an asset. Nearly half of Fortune 100 CEOs previously served as a divisional CFO. Former McKinsey consultants have the best odds of becoming CEOs. Alternatively, launching your career at a major consultancy can help you quickly develop the adaptability and practical breadth of experience that’s highly desirable in an executive position. In fact, a USA Today study found that former McKinsey consultants have the best odds of becoming the CEO of a public company. Earn recognition (and reputation) for the right reasons Wherever you currently are on the corporate ladder, the best way to position yourself to take the next step up is to earn recognition internally for your initiative. Be the first to volunteer for new opportunities, such as leading task forces or serving on corporate committees. Doing this well can build your skills and credibility, earning you recognition beyond the job you do every day at your desk. A can-do attitude will help you to develop a network of advocates and influential references from within the business, keeping your name at the front of their minds when the next big opportunity arises. Taking on assignments that require travel or relocation can be particularly beneficial, not only as a demonstration of your commitment, but also as an opportunity to gain international or travel experience—something expected of future CEOs. Taking on assignments that require travel or relocation can be beneficial to your career. Another way to get recognized is to identify an executive mentor and asking to shadow them. This can be an invaluable opportunity to get to know them personally, seek their advice, and experience the day-to-day life of a CEO. But to make sure it’s a beneficial experience for you both, it’s important to demonstrate the value you offer in return. Perhaps it’s consumer insight from a younger generation, or maybe it’s extra support on an important pitch. Develop the characteristics of a leader Successful business leaders need more than just business acumen. In today’s business environment, you’ll need the people skills—soft skills—to get the most out of the teams you aspire to lead. It’s essential to be able to communicate your ideas clearly and persuasively, often in front of large and influential groups of people. Good leaders are good presenters. Embrace any opportunity you have to create and deliver presentations. The more you do, the easier it becomes. Good leaders are good presenters. Another key characteristic is emotional intelligence (also known as emotional quotient, or EQ). Emotionally intelligent people are self-aware and in control of their emotions, and they’re also good listeners. Practice your active listening skills and also be sensitive to the non-verbal cues colleagues may be giving you. Of course, leadership isn’t just about talking. Good leaders walk the walk too, actively contributing to the success of the team. â€Å"A leader is someone who says ‘I will’ and then does it. A leader is not someone who just talks about getting things done—they contribute all the time.† -Hap Klopp, Hult professor and 20-year Founder/President/CEO ofThe North Face Cultivate your personal brand Think about what drives you personally and professionally. Maybe it’s a passion for new technology. Or maybe it’s a love for nature or an interest in sustainability. These are your personal brand values. And just like a company’s brand, these are the values that differentiate you and drive your success. Surround yourself at work with like-minded ambitious colleagues who reflect your brand values. Youll develop more meaningful and motivating workplace connections. And you’ll benefit from a â€Å"brand halo† effect that can improve your profile as a valuable team member with leadership potential. Your online presence is a public display of your personal brand. pub pub Outside of work, remember that your online presence is a public display of your personal brand. If a company is going to consider you for an executive role, theyll definitely look you up online. If you’re seeking a new role or positioning yourself for a promotion, do an online search for your name first. Make sure your public social profiles are consistent with your brand values. â€Å"What is your DNA? When you wake up in the morning, what do you think about? What are you so uniquely good at that you can give 120% when nobody else can? That is what you should develop your personal brand around.† Hap Klopp, Hult Professor and 20-year President and CEO of The North Face Form good relationships with executive recruitment firms Being recognized by the right recruitment firms can be an important way to position yourself beyond middle management. Top executive firms get access to some of the most desirable positions. Get to know an experienced executive â€Å"headhunter† on a personal level. This can make it easier to secure an introduction to the board of a leading company. Strong candidates for senior executive roles will want to get themselves known by big firms such as Korn Ferry, Russell Reynolds, or Boyden. Think about your particular area of interest or expertise. It’s also worthwhile seeking out specialist recruiters who may have executive roles tailored to your specific skills. Expand your knowledge with a business degree Gaining the right academic credentials can sometimes be the key to an executive-level role. In fact, over 40% of the CEOs of Fortune 100 companies have MBAs, and over half studied business, economics, or accounting as undergraduates. If your academic background isn’t within business, an MBA can help you to gain the broad, fundamental knowledge you need to stand out. If you already have several years of practical career experience, an Executive MBA can broaden your knowledge of the wider world of business, so you don’t become siloed in your particular discipline and stagnate, rather than moving up. Over 40% of the CEOs of Fortune 100 companies have MBAs. The world of business is becoming more globalized. Going to business school can help you to quickly build an international network.And to develop the cross-cultural understanding that’s essential for a leadership role in a global company. And as you’re creating your own five-year career map, Hult’s global one-year programs are designed to fit into your timeline. To hear Haps story and learn more practical tips for mapping your own executive path, you can watch the webinar here. Find out more about Hult's business degrees Did you know? Hult has developed its own career mapping tool. Want to know how to achieve your dream job? Or what the best paying options for your skillset are? Find out here. Try Hult's career mapper tool Read more about Hult’s MBA admissions process. Step up your game with executive education at Ashridge agile business school. To find out more, take a look at our blog From Hult to Apple: The journey of an entrepreneur, or firm up your exec career footing with a Masters in International Business from Hult. Download a brochure or get in touch today to find out how Hult can help you learn everything about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .