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Vital to Your Job Search Success: Accepting Your Reality

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There’s one timeline and one reality.

 

When former U.S. vice-presidential candidate, naval officer and Vietnam prisoner of war James Stockdale was asked who struggled the most in the Hỏa Lò Prison (aka. “Hanoi Hilton”), he answered, “the optimists.”

 

Stockdale said, somewhat paradoxically, that as POWs, it was the optimists who got crushed. The ones who deceived themselves with unreasonable expectations, who tried to avoid the brutal facts of their reality; “they died of a broken heart.” Stockdale said what you need when circumstances are darkest is a blend of appreciation for what is in your control and an acceptance of what is not. This was the key to his survival.

 

I can’t think of any greater yin and yang than optimism versus reality.

 

The situation you’re in right now isn’t your fault. You didn’t cause the pandemic, your job loss, the hyper-competitive job market, nor how long the pandemic has been dragging on. You didn’t ask for this miserable period.

 

The ability to acknowledge (Better yet, embrace.) your current reality, the situation, and the environment you currently find yourself in and balance it with optimism will serve you well throughout your job search. Such paradoxical thinking has been one of the defining philosophies for great leaders making it through hardship and reaching their goals.

 

We all know too much of anything is bad. Too much optimism can be mentally crippling, especially finger-crossing, on your knees praying optimism that fixates on conditional hopes and wishful thinking about things outside your control. (e.g., how an employer chooses to hire)

 

While optimism is good; otherwise, why would you move forward, excessive optimism can cause you to:

 

  • not acknowledge and accept what you can’t change.
  • soothe your ego and fears with wishful thinking.
  • view the world through rose-coloured glasses.
  • envy those you deem more successful than you, who you think has it easier than you, or tell yourself “They’re privileged.”
  • play the “I’m a victim” game.

 

Conducting an efficient job search requires knowing yourself and clearly seeing the employment landscape for what it is. (What you’re up against.) When it comes to job hunting, the best approach is to accept that employers own their hiring process, not you. Wishful thinking, created by optimism and a sense of entitlement has no place in a job search.

 

You may wish employers would simply “get you” and see what a great employee you’d be. The reality is you need to sell yourself and not expect hiring managers to connect the dots between your skills and experience and the job they’re trying to fill. You may wish employers would look past their biases. All human beings, you, and I, carry biases which significantly influence our decisions. Hiring managers are human beings.

 

Your “wish how employers were” list is probably long—it’s also distorting your mindset and making you frustrated and unhappy. It doesn’t change how employers hire.

 

Then there’s your competition. Don’t kid yourself; job hunting is a competitive activity.

 

Most job search heartbreaks result from job seekers overestimating their abilities—we’re never as good as we think we are—and underestimating their competition. The reality is many rockstar candidates are vying for the same jobs you are.

 

Here’s one “life rub” we’ve all experienced; competing with someone who’s so good at what they do that it seems unfair. Regardless of how your resume and LinkedIn read, I guarantee you are up against job seekers who are hungrier, more skilled, charismatic, and talented than you.

 

There’s nothing more painful during a job search than to fall in love with a position, believe that it’s yours and then not get hired. This is where pessimism has its perks. Assuming that you won’t get the job might not make you feel good—that is, until you don’t get the job. If you assumed all along that you wouldn’t get picked for the position (and then you don’t), it’ll still sting, but not as much as if you had believed you were a shoo-in for the job all along.

 

Weird as this may sound, pessimism manages your expectations and, therefore, can improve your mood and confidence.

 

Ultimately, the goal is to be neither overly optimistic nor entirely pessimistic. When conducting a job search, keep in mind all you can control is consistently doing your best and graciously accept rejection. This is how you build resilience, which in today’s job market is a must-have. Resilience is why Stockdale was able to survive seven-and-a-half years in the Hanoi Hilton.

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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

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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)

The Canadian Press. All rights reserved.

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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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