Reid Hoffman's ABZ Model of Career Planning 🗒️
How to Plan Your Career in Simple 3 Steps
#007
Hello friends, welcome to this week’s newsletter. Hope your week is off to a great start.
Before we begin… Write out your response to this question:
Today: “A company hires me over other professionals because__________”?
Next 6 Months: “A company will hire me over other professionals because_______”?
You don’t leave your house without knowing where you’re going to or how you might get there. Yet many professionals leave their career to chance and “let’s see how it goes”.
The realization that I might be spending 30-40 years of my life working, prompted me to start researching ways to plan my career. The best method I found is by Reid Hoffman, Cofounder and Chairman of LinkedIn and that’s the purpose of today’s post.
He termed it ABZ Planning- i.e. Plan A, Plan B & Plan Z.
Let’s deep dive into each of them.
Plan A: Your Current Job
Plan A is your current job.
The goal with Plan A is to keep improving while developing skills that could allow you pivot when you need to.
Some of Hoffman’s key advice here includes:
Prioritize learning- find ways to grow your current skills; particularly your soft skills
Learn by doing- Find ways to try out skills you’re interested in. e.g. volunteering within your current company
Make reversible, small bests- A good Plan A allows you to try things without jeopardizing your career.
Plan B: The Pivot
Plan B is all about considering alternative routes or opportunities that are closely related to your current job/role.
Let’s assume you’re a Product Manager (PM) but has always wanted to be a Data, then product management is your Plan A while data analysis is your Plan B. While in your job as a PM (Plan A), you should be developing skills that allow you to pivot to being a Data Analyst (Plan B) when the opportunity opens up.
Exploring Plan B options enables you to expand your skill set and broaden your options and marketability.
Plan Z: Your Lifeboat
Plan Z is your fallback plan.
Assuming your Plan A & B didn’t work out as planned, what’s next?
Assuming you resigned your PM job to resume as a Data Analyst but your role got eliminated or your employer folded up. What is your survival plan? That’s your Plan Z. It could be that you have enough money saved for 6-12 months. It could also mean that you have a side hustle that brings in enough money to cover your living expenses.
A good Plan Z allows you to take more risks with your Plans A & B.
Key Principles of the ABZ Model:
Regular Self-Assessment: Evaluate your current career path and objectives periodically. Are you making progress? Are there new skills you could develop? Are there adjacent opportunities worth exploring?
Continuous Learning: Stay curious and committed to lifelong learning. Acquire new skills and knowledge that could open doors to different career options.
Network Building: Cultivate a diverse network of professional contacts. This can provide insights into various industries and potentially connect you with Plan B or Plan Z opportunities.
Risk Management: Understand that career paths are rarely linear. Prepare for unexpected changes by being open to different trajectories and having a backup plan.
Boldness and Adaptability: Embrace change with courage and adaptability. Don't hesitate to pivot if circumstances call for it, especially if it aligns with your long-term goals.
Hoffman's ABZ model promotes the idea of continuous learning and evolution. You should see your career as being in constant beta; always learning and developing your skillsets.
3 Questions to ask yourself today:
What’s my Plan A & how can I develop my skillset?
What is my Plan B- what do I aspire to AND how do I develop the needed skills? Create a plan
If everything fails, what’s my fallback option?
See you next week Tuesday.
With Love,
Azodo from Workplace.
very timely read.
thank you for sharing,