Wednesday, June 12, 2013

Collateral

When you apply for a loan, the bank will want to know what kind of collateral you have.  The bank is not in the business of losing money … notwithstanding the horrendous debacle of 2008.  Under more “normal” circumstances, if the loan is for buying a house or a car, the bank will count the house or the car as collateral; if you don’t pay off the loan, they will repossess the house or the car and resell it. 

When applying for a job, the same rules apply.  The hiring company is looking for some “collateral” – something as close to absolute assurance as possible that you will deliver what they need – with interest. 

Your experience is an excellent source of collateral.  But it doesn’t tell the whole story.  “Experience”, in many instances, may simply mean a person “put in time.”  In other instances, it may be the wrong kind of collateral; if you’ve jumped from job to job without obvious progression or without a purposeful theme or goal, it could be a liability. 

More globally, the hiring company is looking at YOU, Inc. as the collateral.  They want to know how much “equity” you represent in their grand scheme of things, and how much you can contribute toward their bottom line.  They’re not looking for someone merely to fill a position. 

For best evidence about the soundness of YOU, Inc. as collateral, the hiring company will look for two things: 1) Benchmark accomplishments and 2) Glowing references.  Outstanding benchmark accomplishments and glowing references are like gold collateral.  

Finally, the specific elements they will be looking for as applicable collateral represented by YOU, Inc. will include the following:

Education, technical skills, coherence in communication, focus/mental toughness, tolerance, balance, creativity/resourcefulness, flexibility, team-player, leadership, initiative, extra-miler dedication, enthusiasm/passion, realistic self-assessment, tenable personal aspirations, understanding of the marketplace, positive attitude, autonomy, discipline, persistence, affirmative core principles, self-confidence, and a sense of humor.  

Master these elements, and YOU, Inc. will have a generous core collateral to offer to any going enterprise. 
 
Pile up gold-bond equity and core collateral as much as you can as fast as you can and you will make life much more navigable  Quartermaster

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