Shadow Market Your best job hunt strategy

Written: March 3, 2020 at 8:35 AM
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Timestamp Notes

[4:35] The best jobs aren't being advertised on job boards. Potentially 80% of jobs aren't ever advertised. "Shadow Market" jobs. By definition, anyone that applies through the front door is displaying a "low competency trait".

[6:15] Job Board Market: 80% of competition/20% of jobs. Shadow Market: 20% of competition/80% of jobs. // Pareto Principle

[6:35]

"After looking for my Dream Job for 5 months, this blew my mind. I've been trying both methods over the last couple months - applying to job postings on one hand, leveraging my contacts on the other. The funny thing is that the only interviews I've managed to secure are the ones where there hasn't even been a job posting. All this time it was staring me in the face, but I didn't clue in that this was where I should be spending 80% of my time." - John A

[7:30] Two ways to secure "Shadow Market" jobs:

    1. Having a strong network of people who want to help you.
      1. A Strong network
      1. of connected people
      1. who can help you.
    1. **Going direct: Getting in touch with employers you want to work for and pitching them yourself
    • Don't worry about whether they have an advertisement or not. You go to them first. Beware invisible scripts mental barriers. // Dream Job Module 1 Exercise

[9:20] Top performers will try things even if 70-80% of them fail. This opens you up to serendipity and you'll meet all kinds of people.

[10:30] Your "Target Companies" Pipeline:

  • Generate Companies via Window Shopping // Big list of dream companies
  • Qualify Companies via research, coffee
  • Get Offers via interviewing

[11:45] You can't expect to get the results you're looking for by applying to only one job per month or few weeks. You'll need an extremely productive pipeline to be applying to several per day to get several interviews. This is, once again, a high competency trigger. // Negative and positive feedback loops

[13:20] Finding a dream job takes practice! You need to interview at a ton of places to become better at it. You can't interview a bunch of places if you don't have a bunch of companies you're applying for.

[13:35] Make job hunting a hard skill. // T-Shaped Person Skills Graph Analogy

[14:00] Tier 1 companies are places you're really interested in. Tier 2 companies are places your sort of interested in. You start looking at Tier 2 companies so you can practice on the ones that don't matter as much. Besides, it might end up being your dream company after all. // Pareto Principle

Action Steps

Big list of dream companies

[27:15] Find 5-10 Tier 2 companies. Start digging into them, read everything on the first two pages of Google for each. Search for "{CEO name} interview" on Google.

[28:16] If the CEOs are using certain keywords, the hiring managers are definitely looking for those keywords.

[28:20] What exactly do they do? What are their challenges? Where do YOU (and your target job role) fit in?

#dreamjob #ramit #toolong