Business

The Purpose of a Job Interview

Published

3 years ago

August 12, 2021

If I were to ask you what’s the purpose of a job interview, you’d probably say something along the lines of, “To show what I can do for the company.”

You’d be right in that your answer implies you’re asking for a chance—you understand an interview is a sales meeting, which is the mindset you need to have when being interviewed.

People stress preparing for an interview. Actually, the key to a successful interview is to not over-think it. Although there’s no interview formula that’ll work every time, it’s helpful to think of an interview as a conversation with four distinct but overlapping purposes.

Connect: Get to know the interviewer. (bond)
Culture: Understand what type of person works best at the company.
Challenges: Identify and clarify the concerns the company’s management team has.
Close: What are the next steps in the hiring process.

The holistic mechanics used to achieve these four purposes are the following five interview stages:

Introductions (connect, culture)
Small Talk (connect, culture)
Information Gathering (culture, challenges, matching your experience and skillset)
Question/Answer (culture, challenges)
Wrapping Up (close)

Notice “culture” appears four times. I can’t overstress the importance of fit when it comes to deciding you’re “the one.” If you’re having a tough time with your job search, it’s because you’re trying to fit yourself into jobs and companies where you don’t belong.

If you make connecting with your interviewer a priority, you’ll be memorable in a good way. If there’s no connection, your experience, qualifications, etc., are meaningless to the interviewer. This isn’t a transgression—this is human psychology 101. Maya Angelou’s words, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” offers sage advice.

Truism: We’re incline to want to work with and do business with (READ: “buy from”—remember, an interview is a sales meeting.), someone who makes us feel good and whom we can relate to—people we feel comfortable with. You can call it bias—I call it what it is: human nature. As much as the government has tried to mitigate bias through numerous legislations, bias continues to exist and always will.

Getting someone to feel at ease with you doesn’t require repartee and dazzling verbal displays. It simply requires demonstrating interest—genuine interest, not fake I’m-trying-to-butter-you-up interest—and a willingness to listen. Do you know anyone who doesn’t like being paid attention to?

Listening is key to understanding what the other person wants and needs and, therefore, is the foundation of persuasion. (Reminder, an interview is a sales meeting.) A person is more likely to want to build a relationship with someone who understands their situation, their problems, and their goals. Listening and observing to understand another person is never time wasted.

When it comes to asking questions ask questions that show you’re eager to contribute to the company’s success and not what you can get from the company.

While there are infinite number of questions you could ask your interviewer, there are three questions to always ask:

How is success measured in this role?
What skills and attributes are valued by you and the leadership team?
[If your interviewer will be your boss.] What’s your management style like? How will you manage me?

Listen carefully! Be ready to interject examples of how you exceeded expectations and demonstrated the skills your interviewer mentioned are valuable.

The most common interview advice I give: Lose any sense of entitlement you may have! You’re not owed a job. With so many human factors being part of the hiring decision, the best candidate on paper doesn’t always get the job. Entitlement is a huge turnoff.

Employers aren’t going to offer you the job because you only have $350 in the bank, and your mortgage is past due. The position will be offered to the person regarded as qualified to do the job (skills, experience) and is considered to be a fit (this is paramount)—the person the interviewer can envision working with, will fit in with the current team and whom they can see themselves dealing with daily and will meet their boss’s approval.

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Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers advice on searching for a job. You can send him your questions at artoffindingwork@gmail.com.

Business

Japan’s SoftBank returns to profit after gains at Vision Fund and other investments

Published

6 days ago

November 12, 2024

Anne Joseph

TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.

Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.

Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).

SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.

The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.

WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.

SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.

SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.

SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.

The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.

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Yuri Kageyama is on X:

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Business

Trump campaign promises unlikely to harm entrepreneurship: Shopify CFO

Published

6 days ago

November 12, 2024

Anne Joseph

Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.

“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.

“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”

Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.

On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.

If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.

These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.

If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.

However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.

He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.

“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.

Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.

The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.

Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.

Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.

Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.

Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.

Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”

In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.

“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.

This report by The Canadian Press was first published Nov. 12, 2024.

Companies in this story: (TSX:SHOP)

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Business

RioCan cuts nearly 10 per cent staff in efficiency push as condo market slows

Published

6 days ago

November 12, 2024

Anne Joseph

TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.

The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.

The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.

RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.

The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.

RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.

This report by The Canadian Press was first published Nov. 12, 2024.

Companies in this story: (TSX:REI.UN)

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