Making Lemonade: The Job Hunt

Toronto Mike'd Podcast Episode 320In this 320th episode, Mike shares personal news and is joined by Head of Customer Success at LinkedIn Canada, Perry Monaco. This episode is exactly 36:16.

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Beatts

Perry Monaco looks awful...

ly familiar

March 30, 2018 @ 4:09 PM

jj

Aw man Mike. I know things will look up for you, I can't believe the universe doesn't have great things in store for you. I know it must be incredibly scary but good things will come for you

March 30, 2018 @ 5:10 PM

dale

Great Podcast insight both Perry - LOL & Mike as my fortune also.

March 30, 2018 @ 5:19 PM

Anon&on

You can't be an Elvis impersonator, dream crushed. Maybe a good time to get into that lucrative radio market- cbcMike, cftoMike, am640Mike .... just spitballing.

March 30, 2018 @ 5:49 PM

Rick C in Oakville

Terrible news but you have a very positive attitude, and an excellent mentor in Perry.
With your experience and outgoing personality, you shouldn't have any worries.
Best of luck

March 30, 2018 @ 9:43 PM

bsmntdwllr73

@Mike
I'v just started the podcast and as soon as I saw the title of the episode I realized what the
subject of this podcast was going to be. Very sorry to hear about your position being phased
out. Also, nice to see you giving a break to an up and coming professional, with regards to
Mr. Monaco. Strange sense of deja vu that I have heard of this gentleman in some other
capacity before!!

March 31, 2018 @ 9:19 AM

Toronto Mike Verified as the defacto Toronto Mike

@bsmntdwllr73

Less "phased out" and more "no longer remote".

I'm actively looking at all opportunities as I plan my next chapter!

March 31, 2018 @ 9:26 AM

bsmntdwllr73

@Mike
If anyone knows a thing or two about being remote it would certainly be me!!
Good to see that you are in a good frame of mind and actively looking towards your next exciting opportunity. In my case, it's probably a little too late to head back to my teenaged McDonalds and ask for my old broom back. Sob!!!!

March 31, 2018 @ 9:35 AM

Toronto Mike Verified as the defacto Toronto Mike

@bsmntdwllr73

Just making lemonade here. :)

And I'm still getting paid to work, because they want me to help with the transition, so I have a little time to get this right...

March 31, 2018 @ 9:47 AM

bsmntdwllr73

@Mike
Well, at least you have a comfortable living space to do it in!! My basement tomb with no view
is barely big enough for me and Fievel (one of my annoyingly squeaky mousemates!!) to
co-exist at an even remotely tolerable level!!

March 31, 2018 @ 9:49 AM

so glad

I'm so glad I'm no longer in the rat race.

Good luck Mike.

March 31, 2018 @ 11:34 AM

Irv

Mike,

I used to be incorporated so a few tips if you go out on your own. Acquire some professional help (bookkeeper, paralegal) for your finances & legal/insurance stuff. Also, if you are going out on your own, do have a decent sized cash fold. Some clients are slow to pay & when it's your salary well waiting 60 days for payment sucks. Initially when I was self employed I had frequent cash flow problems because of slow payment from clients.

Secondly, *NEVER* do anything for free. I cannot stress this enough. I was guilty of helping out, etc and I learned that it only benefits the client.

Having been both incorporated and employed by "the man" there is benefits to both. Full time employment is great because you get paid on time. I loved self employed because clients treated you (usually) with respect. You weren't a number.

Side note: Self employment does come with consequences usually around banks & lending. They'll want to see 2 years of "proof" of self employment and a stable income. This can make getting a car, mortgage renewal, etc more difficult.

Good luck. I hope you don't have to return to working in an office. That's a life killer after you've worked out of your home office.

March 31, 2018 @ 11:40 AM

Gary M

Mike, you're positioned great. Not just saying that. You're taking a ton of relevant, contemporary skills to the hottest employment market in over a decade.

March 31, 2018 @ 1:24 PM

markosaar

Tangential to Mr. Definitely-Not-Elvis's point about potential employers not wanting to leave a bad impression, sounds like your place has gone really regressive.

I'm like the one guy that can't work from home at my office, but I think it's an awesome policy. I 'lost' an employee: he transferred to another department where he could work from home but also look after his newborn. I'm really proud to work for a company accommodating like that.

March 31, 2018 @ 1:26 PM

stephen in niagara

Somebody already said it, re: being self employed, and I couldn't agree more, but NEVER do anything for free. Free, or charity, especially when it's your primary "skill", doesn't pay the bills.

I'm a licensed electrician so I get asked to do a lot of side jobs, and I never do a job for free. Never!

I've been self employed 20+ years, its a challenge, but I've had more "ups", than "downs".

Take some time to figure out a game plan. Find a good bookkeeper and an accountant you can trust. And then start networking.

Hope it works out for ya.

March 31, 2018 @ 1:53 PM

James Edgar

Sorry to hear this Mike but with your lemonade attitude i have no doubts you will land on your feet.

Great advice from Perry Monaco for any one looking for new opportunities.

Irv's advice about being self employed looks good too. I was for some time but started without a decent bank roll and never could make it work. that wasn't the only issue of course but it played its part.

March 31, 2018 @ 3:15 PM

Martin Buckland

Sorry to hear your news. Don't want to weaken the impact of this bad news but every week in the GTA 1600 or so are terminated, canned or laid off, whatever you want to call it.

However, the bright side is that I have been managing my clients careers for 24 years. Right now hiring is SO HOT across Canada, the best I have ever seen. Your particular skill set is in even more demand. With the right tools, resume, mindset and job search plan you can secure your next challenge fast!

Take advantage of this situation. Most likely you will find another position with greater challenges, higher level and more money!!!

March 31, 2018 @ 8:16 PM

Irv

In all seriousness Mike, here's what you might consider

1. Get a full time job and focus on your career to make your mortgage, etc

2. Get serious on the side with starting your own small firm. I'd start by hitting the library and checking out what George Brown has to offer for "running a small business" courses and seminars. Focus on the conceptual ideas versus getting granular (that's for your bookkeeper). Hang out your business card and try to pick up a few local clients and take it from there. Mesh the two jobs (which will eat up your time) and go from there.

3. Make sure you've got the support of your wife in this. Self employment is a LOT of work and it requires flexibility that sometimes conflicts with family time. Clearly if you're in a senior role and you've been working remotely you've got the capacity to motivate yourself. That's a huge portion of the whole "work for yourself thing".

Good luck.

April 1, 2018 @ 11:06 AM

elvis

That fellow sure is good looking.

April 1, 2018 @ 12:07 PM

Urooj Islam

I want to imagine "Perry Monaco" is a character elvis came up with, with an entire backstory and everything just for this episode.

All the best, Mike. It takes a lot for a man to be vulnerable/introspective about two things in our society, health/mental health and employment instability.

The type of skills you have, along with your experience, any company would be very lucky to have you in any capacity.

April 1, 2018 @ 2:40 PM

dale

Came to realize that phrases - "phasing out, restructuring, moving forward in a new direction. redirecting to different opportunities" all mean the same, as Trump says "you're fired" in a somewhat positive manner. At least I worked for another 7 weeks after given my pkg. & was able along with MANY others to say goodbye.
Good Luck Mike U will B fine with your capabilities.

April 1, 2018 @ 9:30 PM

Beatts

Elvis picks the worst porn names.

"Perry Monaco"... That's limp...

April 2, 2018 @ 7:19 AM

Rob

My sister just went through something simailar but with a few more consequences.

I’d recommend hitting the ground running and being open to everything and anything. Remember that even if you apply/interview for something it doesn’t mean you have to accept the job or go through with it. Give your self as many options as possible because something is better than nothing. Also going through interviews and building applications refines those skills and will prepare you better for the next one.

My sister departed a company after 15 years rather suddenly while in the process of a medical procedure costing her thousands of dollars that couldn’t be delayed. She was making a great wage but realized she may need time to get back at that level.

She applied for every job possible including retail. She then began working on going back to school to finish her degree. She ended up applying for over 50 jobs and finding something right away in a similar field/role that paid her decently. A month into her new job she got an offer in her field for a higher pay then previously.

While it worked out for quickly the grind she put herself through really made her look inwards and improve many weaknesses even though things worked out. She is still working towards finishing her degree in in late 30’s along with having a list on her fridge she works on constantly to make her better at her job. This includes being better with her money because nearly being unemployed made her realize how quickly things can go south. She is more determined/focussed/stronger than l’ve ever seen her.

Work hard and you will come out of this better than ever.

April 2, 2018 @ 7:47 AM

Al The Royal Pain

Chin up Mike, you'll be alright.

Lot's of great advice here. One huge lesson I learned when I was a contractor was to include 30/60/90 payment terms on all my invoices with penalties. It was amazing how easy it became to collect on time once I put that in there.

Companies will generally take as long as they can get away with before paying an invoice, but what they generally didn't tolerate was paying a penalty for a late invoice.

April 3, 2018 @ 10:14 AM

Al The Royal Pain

Also, take a look at KPMG. I know they're hiring for some media-type positions and from what I've heard, they've got the right idea when it comes to work-from-home policies for their employees.

April 3, 2018 @ 10:15 AM

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