This is a real life story about a career change from being an Executive VP for a Publishing and Broadcasting media company to an owner/operator of an automobile dealership.
Q1: What was the driver for the change?
A1: Desire to own a significant business that had growth potential.
Q2: How did you make the transition?
A2: My major challenge was to learn the nuances of the automobile dealership aspect of the industry. I was financially astute and had a great deal of experience building and managing a business from infancy to maturity. I also was an experienced sales and marketing executive and also had a great deal of general insurance experience, which was a critical component of an automobile dealership.
Q3: What education or training did you get?
A3: I was selected to attend the GM Dealer Development Academy. This was a one year training program which consisted of classroom training and on-the-job training in every aspect of an auto dealership.
Q4: What do you like the most about your new career?
A4: It was a challenge to operated what amounted to seven different businesses under one umbrella since each department had its own profit objectives.
Q5: Please describe your overall career change experience.
A5: Aside from my first job change, which was from government to private (media) industry, all of my future job changes were not exceptionally rewarding monetarily. However, they were quite interesting challenges and usually gave me a rewarding experience.
Q6: Did you have another career change following the one described here?
A6: Yes. Business did not meet the financial imperatives that I required and I realized that selling it would be the only alternative to avoid future losses. I sold it for a modest profit.
Q7: What advice will you give to people who want to change careers?
A7: Thoroughly research all aspects of the business. Do not invest or buy unless you COMPLETELY UNDERSTAND EVERY ASPECT OF THE BUSINESS, ESPECIALLY THE FINANCIAL RAMIFICATIONS.
If you had a great career change experience, go ahead and share it. We can all use an inspiration. If you had a difficult experience, please share it as well. It will help others to make better choices for them.To share your story please take the Career Change Experience Questionnaire.