Just because you are on a dedicated career path does not mean you have to stay on it forever. If you decide to change manage your career transition thoughtfully.

Your family and friends may question your judgment when you broadcast plans for a midlife career change. Take heart: 59% of working adults say they are interested in leaping, per a recent University of Phoenix School of Business survey.

Whether you are bored at work, burned out on a job, or want a fresh challenge, several considerations go into a successful career change. Ignore them, and you likely to succumb to one of the common mistakes.

As our economy transforms, many professionals will move into new sectors. It may be your choice or an imposed change. This will have a massive impact on many careers. Resource-based industry and mergers have accounted for most of the forced changes with sweeping layoffs and a slow recovery.

As a CEO for 25 years, I have encountered hundreds of highly intelligent and experienced professionals. Many, the thought of changing industries seems implausible – but rest assured, while not easy, it is not impossible. I started in the utility sector, moved to lead a joint-venture, then to a telecom start-up, after that heading up an engineering regulator, later to be the head a federation of associations, and now I am providing strategic insights for individuals and organizations.

Getting ready for your career transition

The key to making a change is to look at your talent stack, rather than education and experience. Skills are one of five facets that make up your talent stack. The other four are knowledge, wisdom, behavioral traits, and accomplishments.

For example, a well-site engineer can examine a well-log and provide a detailed record of the geological formations that have been penetrated. The hard skill here is reading the well-log. The critical competency is data interpretation. Spend some time reflecting on your talent stack to determine how you can apply them in other fields.

Skills + Knowledge + Wisdom + Behavioral Traits + Accomplishments = Talent Stack

Your talent stack is your Career Capital. Use the talent stack equation to look through your resume and identify portions of career capital. Then have us conduct a career assessment. You will discover your behavioral strengths and challenges. Also, you discover the roles where your behavioral traits align with high performers in a variety of roles. For me, with engineering was a good fit, however many other roles were an excellent fit. With this knowledge, my journey would have been different.

Please have a look at the tools I provide for students. You can explore the following resources:

• The Index of Learning Styles is an online survey instrument used to assess preferences on four dimensions (active/reflective, sensing/intuitive, visual/verbal, and sequential/global) of a learning style model
• The Hamilton Project shows you where you can go with your degree. It provides information in decade blocks so that one will match with you. You will be amazed at how many individuals are doing different things than what they graduated in.
• The Career Handbook is the counseling component of the National Occupational Classification (NOC) system.
• O*NET — OnLine has detailed descriptions of the world of work for use by job seekers, workforce development and HR professionals, students, researchers, and more!

Create a comprehensive inventory of your career capital, in each of the five areas.

Make a rash decision

Before changing career direction, do a deep dive—assess why you want to leave your current position and the industry.

You need to invest time to figure out why you’re dissatisfied and what’s going to make you more satisfied going forward.”—Deborah Oronzio, a career transition coach

Ask yourself why you are unhappy—and answer honestly. You may just be having a bad week or a bad month—or you may hate your boss, not your industry. I shared an insight, How to Transform Your Outlook on Life and Business — Find Your Ikigai. Ikigai is a Japanese concept that means "a reason for being." It is at the intersection of what you are good at and what you love doing.

We all go through phases of unhappiness with our jobs. You should be running toward something, not running away from something.”— Randy Block, an executive coach

I previously provided How to fall in love with your current job (again). It is the most natural place to start.

Tips for your career transition

Now, with your career capital in mind, here are some tips on making your move to a new industry:

Conduct industry research

Look at the economic forecast in your region to find out which industries are growing. Talk to people in the recruiting community to get a sense of trends happening in other sectors.

Find the critical competencies in demand

Within sectors, there will be essential competencies that are in need. Look at what you have to offer. Consider how it applies. Looking at job postings is an excellent place to start. I like to create a chart: Column 1 – Your Requirements | Column 2 — I offer (these elements should be on your career capital list).

There is a wealth of free online training. Add new skills to your talent stack.

Decide where you want to work

Choose the companies that you are interested in working for, then research and network ahead of time. So, when there is a job opening, you have already done the legwork. You can rely on internal networks that you have developed within the organization to help get your resume noticed.

Quality over quantity

When applying for positions, do not send out the same resume with a generic cover letter to every potential employer. Determine where your career capital will be most valued. Tailor each resume that you send to the specific job you are applying for.

Be prepared

Be ready to answer the question of why you are changing industries. A potential employer must trust that you are not going to run back to your old sector should that opportunity present itself. Your story must be convincing and authentic. Explain why this new industry is where you want to be and why you are committed to the change.

Seek external insight

As with any significant career change, obtaining an objective perspective can be extremely valuable. It may be useful to engage with a mentor or career coach when completing these steps.

Write a Career Change Resume and Cover Letter

When you are ready to start applying for jobs in your new industry, be sure your cover letter reflects your aspirations. Your resume must be refocused to reflect your unique career capital. Create a powerful career change resume and a career change cover letter.

Worst career change mistakes

Monster shared the worst career change mistakes to avoid. Whether you are suffering from boredom or burnout, you need to avoid these common pitfalls before you change careers.

Choosing a new career based on salary

You need to be financially strategic when choosing your next job, but do not base your decision solely on earning potential.

If you take a high-paying job that does not match your interests, values, or strengths, you’re not going to be happy.”— Holly Genser

Would you be satisfied being paid more money to do a job you are not into? Maybe at first, but the newness will likely wear off sooner than later. It is not that you should disregard salary when evaluating your options. However, you must consider other relevant factors—like work-life balance and room for growth—in addition to compensation.

Not researching the job market

Not sure what area you want to go into? Research industries and positions to find a good match for your skills and career goals. Otherwise, you are throwing darts in the dark.

You can view job growth projections using the Bureau of Labor Statistics’ occupational outlook handbook. Who knows, you might find a field with above-average job growth that is well-aligned with your talent stack, but something you never considered doing.

Quitting without having another job lined up

Research shows it is easier to get a job offer when you are still employed, which makes sense since gaps on a resume might make a hiring manager think twice about calling you in for an interview.

Consequently, it may in your best interest to stay at your current job until you have your next one set up.

Neglecting your networking

Even if everything you research about the field you are interested in sounds promising, talk with individuals who work within that field. You need to know what you are in for. As such, you should be increasing and refreshing your professional contacts constantly.

One of the best ways to expand your circle is to go on informational interviews with people who currently work in the area you are pursuing. During these meetings, be sure to ask meaningful questions (e.g., “Where do you see the industry going?” or “Which professional associations or trade publications do you recommend?”).

Target folks who work at companies you would like to work for. Not only will you learn the nuts and bolts, but you’ll also be more likely to hear about job openings and get internal referrals.

Going back to school prematurely

Depending on your new career choice, you may need to get another degree. Some fields have clear education requirements (e.g., obtaining a master’s degree and licensing to be a nurse practitioner). However, others do not require you to go back to school.

You must research whether getting another degree will, in fact, improve your job prospects or increase how much money you can make. Networking is particularly helpful in determining these answers. If it will not, you would just be wasting money to get a degree you may not need.

Not adjusting your resume

While it is great that you have 15 years of experience in public relations, if you want to change careers to human resources, your existing resume will not cut it.

Your resume for a career transition needs to be personalized to the new industry you are pursuing. Review some of the job descriptions in your desired field. Note what skills and credentials are valued. Which of your skills are transferable?

For career changers, a functional resume is more likely to promote your career capital than a chronological resume. Put in the time and energy to bring up-to-date and polish your credentials, regardless of how many years you have in the workforce.

Summing it up your career transition

Your skills are relevant experience from your past employment up until the present. However, your career capital bridges your skills in your future endeavors. Highlight the elements and apply them. Leverage your strengths and manage challenges—ensure you do not avoid these areas.

You have the competency to engineer a change in your career. We are happy to assist you.