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The Ultimate Job Search Hack: Know Your Limitations

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The adage, “You can achieve anything you set your mind to,” is a cruel lie.

You most likely heard this phrase when you were young, your future was wide open, and your world was filled with possibilities. Due to your youthful, hopeful, and irrational perspective, you likely interpreted this phrase as referring to karmic or cosmic rewards, thus creating the false belief that if you wish for something, work hard enough, and want it badly enough, it’ll somehow materialize.

That’s not how the world works.

Wishing, wanting, and working towards will increase your chances of success, but they don’t guarantee it. Searching for a job emphasizes “not a guarantee” while humbling you.

Many job seekers cling too tightly to their definition of career success, likely shaped by their environment. During our youth, many things we wished for were long shots, such as becoming an actor, filmmaker, writer, rockstar, or CEO of a Fortune 500 company.

It’s common for a high school student to dream of becoming a professional athlete and devote enormous physical and mental energy to trying to achieve their dream without considering their odds of success; after all, they’re young. Maybe you were such a student.

Less than 0.1% of players—one out of every 1,000—participating in organized hockey in North America make it to the NHL. Statistically, only 3 in 10,000, .03 percent, male high school basketball players will join an NBA Roster.

Having experienced high school, you know how much the captain of the football team identity derives from being “the captain of the football team.” When he doesn’t make it to the NFL, what becomes of his identity?

As adults, we identify with our job title and employer. “You’re a Senior Technical Program Manager at Google… impressive.” Then, when you’re part of a layoff, your identity is shattered.

A job search not going as “hoped”—rarely does a job search go “as hoped”—hurts. You know what’s even worse? Putting all your blood, sweat, tears and time into trying to obtain a job, career, or position at your dream company that isn’t meant to be. Even positions you feel should be within your reach—you believe you have the skills, experience, and qualifications—may be a long shot, especially in today’s hyper-competitive job market.

As I age, I’m mindful that there’s always someone younger and hungrier who wants my position. Then there’s AI, advancing exponentially daily, and low-cost overseas labour nipping at my heels. Never underestimate whom and what you’re competing against. Your qualifications and skills aren’t as unique as you think.

Moreover, success is influenced by a complex interplay of internal and external factors.

I see it all the time: job seekers refusing to accept that no matter how much they want a particular job or how hard they work or network, it’s simply not meant to be. The sooner you come to the realization you’re not going to be a rockstar, make a living as a social media influencer, that you don’t have what it takes to lead and manage people—something more people need to come to terms with—then the sooner you can start reframing what “success” means to you.

“We must be willing to let go of the life we planned so as to have the life that is waiting for us.” – Epictetus, Greek Stoic philosopher.

Based on my observations, I’ve come to realize that trying to portray ourselves as we wish to be perceived and identified as (e.g., financially successful, confident, a leader) is what trips us up. I find it fascinating how married some people get to their idealized image of themselves and then blame everyone when it doesn’t materialize, instead of asking themselves, Do I have what it takes? Do I really want what I’m aiming for?

My oldest friend’s entire working life, still ongoing, has been washing cars for a car rental company. He’s one of the happiest people I know. His inner peace is Zen-like because he accepts who he is and is thankful for what he has rather than focusing on, as most people do, what he doesn’t have.

As I see it, job searching, your chance to reinvent yourself, is hard enough without chasing what’s not in your cards. We all know someone, perhaps yourself, who has been pursuing a career goal, in various degrees of effort, for quite some time without success, hitting their head against the proverbial brick wall.

More than once, I’ve given a job seeker, after listening to their job search frustrations and how much time and effort they devote to their search, the advice, “I think you’d be happier pursuing a different goal that better fits you and your life.”

Why spend your life feeling like a failure and your life’s on hold while trying to attain an unattainable career status? There’s no better time than when you’re job searching to explore employment options that fit your inherent capabilities better.

Acknowledging your limitations (READ: your probability of success) and accordingly adjusting your job search is the best job search hack I know.

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Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

Business

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

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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:

The Canadian Press. All rights reserved.

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Trump campaign promises unlikely to harm entrepreneurship: Shopify CFO

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

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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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