The last few weeks we have continued to see the axe fall as teams and leagues and media properties retrench as the end of six months of 2024 comes to an end. Add in all those new to the job market, a still uncertain economy for many, the advent of new technologies, and no matter where you work today, especially if you hit a certain pay grade and an age, job security becomes an issue.
If you work for a publicly traded company, heads roll as the stock price fluctuates; it’s less a statement of you, and more of a statement on the way business is done today. It happens to most at some point.
The question becomes, what do you do next? I know, I have been there twice, three times if you count when our venture, The International Fight League, closed its doors just over 17 years ago. There is no good done by looking back and whining, it’s been a question, an immediate one for me, of moving forward and immediately trying to figure out what is coming.
So, some thoughts. The first series of which comes in this must read on job and business advice from my colleague Tom Richardson that he authored a few years ago but still holds great value. Tom and I do a podcast at Columbia University on Sports Business, and over over seven years have talked to some of the smartest and disruptive and interesting people from many walks of life, all of which touch sports. He went through all of them and came up with this post of best advice, and while it is tailored for young people, it rings true for anyone out there looking to figure out what to do as life deals you some lemons. Take a read.
Second is something which I have tried to convey to many who have lost their job, and they feel, part of their identity. I have had long conversations with too many quality people, not workers…people, in the past year who have worked at high profile companies, especially in sports, and have given their all only to be told their all wasn’t needed any more. A change of direction, philosophy, style, budget facilitated a change and they were the ones out, sometimes for no reason than bad timing. For years they were x person from x team or x company, and that was what made them whole. Now they were just some guy or girl out on the street looking for a job. Their daily identity, they felt, was lost.
Here’s the news flash: YOUR JOB DOES NOT DEFINE YOU.
It’s just a job, and in an era where lifestyle and quality of life is critical and loyalty in the workplace is sometimes a one way street, being a slave to a desk, no matter how passionate you are about what you do, is not the way the world works. Most importantly, you are going to miss a lot of elements of life that will stay with you well beyond watching a game in a stadium, or being at a Groundhog Day type event. The world we are in today allows remote work and work life balance has to be key for survival. Now that does not mean that hard work is lost in any way, for whatever you do (and that means a job search as well). I love working, I love learning, I love dealing with people and improving every day as best I can. However I have to take the time, even if it is early in the AM or late at night, to think about things other than work and fit them into a schedule. No one said it was easy, but you have to do it. Those things; the touchpoints with family and friends, the lighting of Christmas tree lights, the listening to music, the interaction with a neighbor, the changing of a lightbulb even, give you pause and purpose and a little bit of balance. It’s never 9 to 5 and feet up on the couch, but it is a much needed respite.
But back to being defined by a job. In a world that is so volatile where things do seem out of one’s control even when all the work boxes are checked, being defined by whom you are as a person is invaluable. How you treat others, how you listen to those around you, how you manage tasks, how you bring new ideas into the workplace, how you lead, how you get the little things done, is so much more important now.
When you have the hammer use it to build for others, don’t use it as a weapon.
I have seen many in big positions think that their role made them invaluable to colleagues. The Return On Ego is off the charts. In reality once they lost that role and they were not Mr. or Ms. SVP of BIG BRAND, OR TEAM OR LEAGUE they found out the hard way what people thought of them as people, not as a senior executive. You have to be your own person, show your humanity towards those around you, because when the chips are down, the reality is your personal capital is all you have. Your reputation, and how you treated others goes far; much farther than all those you stepped over around or through on the way to get to that spot, and the road back up the ladder when you down is much smoother when you have treated people well.
Now being 60 and having been on my own…and what that means is you work for LOTS OF PEOPLE, NOT FOR YOURSELF…for over 17 years has its ups and downs, and that’s part of the tradeoff, but it does give you a modicum of independence if you can do it. What it does mean is I really can’t be defined by any one element, because you have to juggle many. It keeps you fresh, on your toes and always thinking ahead while balancing the present. It’s not for one who likes a traditional structure, and frankly I’m still not sure if it’s for me, but I have made it work because I had to. Some people pushed me out the door, many came along and helped when it was unexpected and gave me a chance, and off we went to some amazing places. I think a lot of that is not because I worked for the Knicks or the USTA, it’s because I built a reputation learned from loss to do the right thing as often as you can. Man, I made a lot of mistakes along the way, but learning from those, and saying things like “I’m sorry” or “I don’t know,” or gasp, “Thank You,” goes a long way. Simple but important.
So while I understand the outpouring of stories and tweets and texts about job retrenching, I think it is much more productive not to bemoan and wring hands but to look ahead for the opportunities of defining oneself that exist. It’s not easy and it takes time but everyone, everyone has a purpose and can lead fun, rewarding, profitable and meaningful lives in a sports and entertainment business that continues to move and engage. It may not be what you did yesterday or will do tomorrow, but there is a role for everyone, and that role is defined by who you are, not where you work.
Transitioning to The Second Act.
I remember the late David Stern talking about his second act, as an investor/mentor/entrepreneur when he would speak to groups, and he mentioned how much he was enjoying the new opportunities that were abounding in his time after he retired from being Commissioner of the NBA.
I have a friend who became a baker after she left a career deep inside communications businesses, another who found a passion running a B and B after years in the financial world, another who has run a successful summer camp after decades on Wall Street.
All have their challenges but all, as well as many others, found a way to have financial means, manage their time, and out joy and purpose back into their lives after years of status quo, no matter how financially success they were.
For me, 17 years into a second, a third, a fourth act, it actually happened much closer to the age of a retiring athlete (45) than most people who have been hit by downsizing, large salary cuts, business failures or just austerity in recent years. However my second act, working for myself, didn’t come without angst, fear of the unknown, and a removal from a comfort zone at its core.
So for those who are now looking for a second act, or who are being forced into a second act of a new chapter, some thoughts.
Sometimes the path chooses you. You have to be open minded enough to see opportunity, or see opportunity presenting itself and be willing to be curious and try something a little different. We may want to always stay to the safe route, when in reality there might be an opportunity that will be a little off center using the skills you have that can open a whole new world for you.
Take stock of the skills you have. I hear this so often…I’m a good salesperson, or I know how to work in finance…all important, but what other skills do you have that can help jumpstart the second act? Can you write well? If you are parent how do you help manage time? Are you a finance whiz? Often times we are so caught up with the day to day we fail to see the skills we have amassed that translate into needed opportunities. We are all pretty good at multitasking and being utility players from time to time…where do those positions now fit on a new field?
Passions are nice, but they also have to pay the bills. Often times we hear people say “follow you passions” but those passions may not meet a career goal that gets you through the next stage. More than passion, you have to find balance and practicality. Understand what you want to do, use, create or enhance skills, and see if the dollars work. Often times the passion tied to the finance can work out…not perfectly, but melding the interest with creative balance can bring an interesting solution.
Don’t Get Caught Watching The Paint Dry. I often realize people who I have not heard from for years are getting pushed out or getting ready to move out when I get emails from a Gmail account not a work account and they say they want to talk or catch up. Many may see the handwriting coming or have been warned, but many still are too caught up in the day to day and get caught without the next chapter starting to form. In today’s fluid workplace, especially when you reach a certain age or pay grade, you are susceptible, and unless you own the business, you can always be replaced for cheaper, younger, different. Now it’s not good to be going through life being defensive or paranoid, but you have to be realistic, hence listening, being a curious adaptive learner and sharpening the tools for the job toolbox are must haves on the to do list, no matter how secure you feel.
Lastly. Joy. The second act should have a quality element of joy vs drudgery. It is a great chance to rethink, retool, reimagine, reinvent and refine. Take stock in what brings you pleasure at work, what makes it NOT work, what is important in the culture of where you work and maybe most importantly, who you work with and what you do. I see too many people jump into a second act that is boring, costly, or lifeless because they just needed to get something. Instead, the second act should be the culmination of all the experience and wisdom and skills you have gathered, with a bit of a reframe. And a piece of that reframe is pleasure in place. You have to enjoy what you do after all the time you put in, and joy and return on your time don’t have to be mutually exclusive. They should meld together.
For those who have been forced to move I feel for you, it’s unfortunately part of life, but that part of life is in the past now. The new job is finding a job and redefining your life, and while doing that thinking about the balance and what is important in getting you from point A to point B. You can’t be defined by where you work; you are defined by who you are.
Trust me, been there. It’s not easy ever. But if you have positive human capital, it will pay off because of who you are, not what you do. and when you move on…
How Did That “Happen”? Hard Work and Relationships…