The Million Dollar Race: An Insider's Guide to Winning Your Dream Job

Although "The Million Dollar Race" is written for mid- to senior-level leaders, we think it's useful for anyone searching for their dream job. The book helps you understand how organizations go about choosing candidates, how to use social networking to find new opportunities, how to figure out what kind of organization you want to work for, and how to negotiate, once you get an offer, so you get the best compensation. This is information that anyone in the job market can benefit from learning.

Kirk Hallowell is a nationally recognized expert in corporate talent management, and he has 15 years' experience in the executive talent management industry. He's designed and implemented executive development programs in Fortune 500 companies, coached over 2,000 executives, and taught psychological assessment at the graduate level.

So, keep listening to find out how to manage your fear during the job search process, how to identify the corporate culture of an organization before you even apply, and how to successfully get through a screening interview.

"The Million Dollar Race" is divided into two parts, with 15 chapters between them. Part one covers preparation. Here, you ask some important questions about yourself in order to get ready for the interview and selection process. You'll analyze what you're most afraid of, and then learn how to manage that fear. You'll also define your ideal job, and figure out the kind of organization you'd most like to work for.

Part two covers 10 common hurdles you may face during your job search. There's a chapter devoted to each of the hurdles, which include finding job opportunities, references and background checks, interviewing, psychological assessments, and presentation and simulation scenarios.

The book is unusual, in that it's written to support a job search that will probably take several weeks or months. The information is presented in the order you may need it. So the author encourages you to quickly skim the book's chapter titles and headings. Then read part one, moving through the chapters in part two as you get to each consecutive stage in your job search.

So, let's look at what you need to do to find and land the job of your dreams.

Let's start with chapter two, which covers fear. We liked that the author addressed this issue first, because fear can derail even the most seasoned professional when it's not addressed and managed.

Most of us have been out of work at some point in our career, and there's no doubt it's a hard place to be. It's easy to question yourself and your abilities when you lose a job, or fail to get one. If you don't learn how to manage the fear, vulnerability, and self-doubt that's often part of the process, it can quickly take a toll on your performance.

The author presents a three-step process for managing fear during this time in your life. The first step is awareness. You need to acknowledge that you're experiencing fear. It can help to say what you're afraid of out loud.

The second step is acceptance. Make the choice that you're going to accept the situation you're in, and accept that fear often goes along with this situation.

The last step is action. Every action you take that challenges your fear puts you more in control of the situation. The rest of the book is full of information that will help you challenge the fear that goes along with the job search process.

There's a lot more you can do to manage fear, though. One tip we liked was to start small.

For instance, imagine you're terrified of networking. Instead of signing up for a large networking event, start small. Call an old colleague or client you haven't talked to in a while. As you catch up, mention your current job search situation.

We thought this was a great tip because starting small is an easy way to take action. You won't be as afraid or overwhelmed if you begin with familiar situations or people. And by working your way up in scale, you'll build up your confidence.

Another good tip is to take an occasional bold step. This can be anything, as long as it feels like a stretch, and is even uncomfortable for you. It's best to act quickly and trust your instincts when these opportunities come up. The author believes that taking bold steps from time to time will make you stronger and feel more confident.

Chapter three helps you define your ideal job. Here, you learn how to figure out what really engages you, how to write your ideal job description, and how to plan your short and long-term career goals.

Chapter four has a similar goal to chapter three, only here you'll define the type of organization you'd really like to work for.

There's some good information on the different types of corporate cultures, and what those types might mean for you.

For instance, some organizations are finance-led. This means the monetary value of the company is the driving motivator. So, most decisions revolve around this.

The implication for you is that if you apply to this kind of organization, you'll probably be assessed directly or indirectly on your financial savvy. Before you apply, brush up on this skill set.

Other organizations are led by their marketing. Here, marketing takes the lead with the product or service mix. These organizations depend on managers that have strong product management experience.

This means you need to completely understand the relationship between sales and marketing before you go in for your interview.

The author goes over six different cultures you should look out for during your job search. He calls them "functions." Knowing the type of culture before you go into the interview will dictate what knowledge and skills you need to brush up on most.

Of course, this is all well and good, but how do you tell what type of culture an organization has if you don't work there? The author lists four questions you can ask to figure this out.

First, find out which function the CEO or owner of the organization ascended through. By function, the author is referring to one of the six cultures he outlines earlier in the chapter. This could be HR, Sales, Marketing, Operations, Engineering, or Finance. The CEO's past history could influence the current corporate culture and priorities.

Another clue to look for is how the organization chooses to be competitive. Which of these six areas is the organization most competitive in?

There's a lot more information in this chapter on how to research an organization before you apply. This is an important step, because a mismatch between your personality and values and the personality and values of the organization is almost a guarantee that you'll eventually be unhappy in your role.

Chapter five is all about assessing yourself before the interview process. Here, you'll learn how to use the Johari Window tool to get a better understanding of your strengths and weaknesses, and your blind spots.

The second part of the book looks at 10 common hurdles you'll face during your job search.

The first hurdle is your job search platform. Years ago, this would have been your résumé. But now there's a lot more to it, thanks in large part to social networking. Organizations now use sites like LinkedIn, Twitter, and Facebook to search for and screen applicants.

You're going to have a lot of components in your job search platform by the time you're done with this chapter. These components include your social networking profiles, your elevator pitch, your résumé and cover letter, and a lot more. All of these components must be built from the same root story. This story is the ultimate message about who you are, and what value you can bring to an organization.

Building this message takes time and effort. And the author outlines a three-step process to help you do this, called the CAR Approach.

CAR stands for Challenge, Action, and Results. This approach helps you establish your value proposition using a specific structure – and every story or message you communicate should use this same structure.

Start with "Challenge." This is a brief and interesting description of a business challenge or opportunity you faced.

Next is "Action." What specific strategy or action did you take to achieve a positive result?

Last, focus on "Results." Detail the specific results your actions achieved. Support these actions with meaningful metrics.

Every time you're talking about your accomplishments you should follow this basic structure. But you need to put some work in beforehand to identify your important accomplishments, and how they made a difference in your past roles.

This might seem like an overwhelming task, especially if you've had a long and adventurous career. Fortunately, the author gives you a six-step process to help break up this big project into specific, manageable steps.

As you heard, the second half of the book covers 10 major challenges to the job search process. Another one of these challenges is the screening interview.

The screening interview is often framed as a short, "getting to know you" interview that lasts around half an hour. But the reality is, these are often carefully orchestrated conversations designed to narrow the playing field if you say or do the wrong thing. So, it's really important to get it right.

First, you need to understand what's happening in the screening interview. Typically, the person you're talking to won't have a final say in the hiring decision. They'll make a recommendation to the hiring manager or committee based on the criteria they're looking for, and how they saw you as a person.

The interviewer is going to be looking closely at your strengths and weaknesses. So, you need to know how to communicate your strengths, and how to downplay your weaknesses.

They're also going to analyze a lot of other things about you. For instance, they're looking specifically at job qualifications. Make sure all your responses about your qualifications and past experience line up perfectly with what's on your résumé.

They're also going to be assessing your interest and motivation. Impress them in this area by showing you've done your research on the role and the organization. Sometime during the interview, give two or three specific examples of what specifically attracts you about the position.

Chances are your screening interview will take place over the phone. If this is the case, keep your energy up by walking around and smiling while you talk. This shows up in your voice, and will make a good impression.

It's also important to remember that the person you're talking to is looking for some specific criteria to be checked off on a form. Keep your answers relevant and concise so they can quickly get their paperwork filled out. This will also make them feel good about you, and the conversation.

That being said, it's important that you're clear on any non-negotiable areas like travel or relocation. It's better to get this out in the open so you don't waste time and energy on a process that can't come to a successful conclusion.

The rest of the chapters in part two have tips and strategies that are just as useful as this one. You'll learn how to build a successful portfolio, how to handle reference and background checks, and how to find the best opportunities. The chapter on navigating the main interview is also full of valuable information, and shouldn't be missed.

So, what's our last word on "The Million Dollar Race"?

We really liked this book. Every chapter has numerous tips and strategies to help you do a successful job search. The author covers areas and common mistakes that many job seekers overlook. The information is relevant, practical, and really useful, and it will certainly give you an edge on your competition.

Our only criticism is a mild one, and it has to do with the way the book is positioned. The book flap says it will help readers land a mid- to senior-level management position, and that it's written for that audience. But the tips in this book will help anyone, at any level, find a meaningful and rewarding job.

So even if you're beginning your career, don't think this book is above your pay-grade. There's great information in here and it will help you achieve a more successful job search, even if you're just starting out.

All in all, we have no trouble recommending this book.

"The Million Dollar Race," by Kirk Hallowell, is published by Greenleaf Book Group Press.

That's the end of this episode of Book Insights. Thanks for listening.

Click here to buy the book from Amazon.