In May, the WashingtonExec Execs on the Move Committee was joined by keynote speakers Leif Ulstrup and Matt Candy – two experienced executives willing to share their stories about creating an alternative career path after working in the govcon industry for many years.
WashingtonExec’s Execs on the Move Committee is composed of seasoned executives who are in the midst of transitioning between positions and companies.
Both Ulstrup, CEO and Founder of Primehook Technology, and Candy, Managing Director at Arena Strategic Advisors, held senior level positions at large companies in the industry and now have successfully transitioned themselves into a line of consulting and professorship.
Ulstrup began the conversation by discussing his passion for coaching and helping millennials in the industry. One word of advice from Ulstrup was to use the term “free agent” over “self-displaced” as an exec evaluating their next move.
When it comes to finding an alternative career path, one must be open-minded and take control over his or her future. An industry that was once $180 billion, is now only $160 billion – meaning 75,000 industry jobs are now gone. To find opportunity in the midst of the downsizing, Ulstrup recommends partnering up when deciding to form a new consulting firm.
When trying how to best utilize your industry expertise, Candy suggests that you ask yourself the question, “are you a consultant or a consulting firm?” The answer to question that holds the decision of where you hook your client list.
Candy and Ulstrup were honest about their endeavors’ successes and their failures, sharing that some of the biggest issues of being a consultant are: choosing your clients well, finding the right opportunities, and, most importantly, defining your deliverables as an expert in order to make sure you don’t sell yourself short.
“Luck favors the prepared mind,” says Ulstrup, and preparation within an industry undergoing massive change and immediate growth begins with exploring all the alternative career paths available to you.
