There was once a time when individuals would train for a career path, take the lowest-rung position that they could grab, and work their way up the ladder over decades. Rarely did one vault past roles seen as “necessary stepping stones” for advancement—and even more rare was a cross-industry move entirely.
But ask any modern executive at the height of their career, and you’ll find that the idea of a linear career path is becoming increasingly outdated.
As an executive career coach, I’ve guided numerous high-level professionals through successful industry transitions—moves often spurred by personal growth, market shifts, or the pursuit of new challenges. For many, the idea of leaving their industry is terrifying. “Better the known devil than the unknown,” they say.
But in this job market, staying within one industry and climbing the traditional ladder is no longer a guarantee of success. In fact, it may even limit potential opportunities for growth and development. The key is having a roadmap in hand that can help you make the moves.
A career pivot, especially at the executive level, is more than just “changing jobs”—it involves leveraging your existing skills and experiences in a new context, often requiring you to adapt, learn, and sometimes even take a step back to move forward.
Why would someone grab their parachute and jump to an entirely new industry or market? Here are some of the reasons I’ve found with the clients I’ve worked with:
- Market Dynamics: Industries evolve, and sometimes pivoting is necessary to stay on a growth trajectory that allows you to continue expanding your leadership influence.
- Personal Growth: Some find that they’ve lost the spark in their current role and are looking for a new opportunity that will light the fire that helped them get where they are today.
- Burnout Prevention: Burnout is a real issue for many executives—and a change of scenery may be needed if you’ve reached the end of your rope.
THE “BLURRING OF SKILLS”
One interesting reason that executives find it particularly easy to jump industries is the concept of “blurring of skills,” a phenomenon suggesting that the skills and knowledge required to be successful in one industry are becoming more and more similar to those needed in another industry.
Statistics show that between 2015 and 2019, there was a 45% increase in executives jumping between industries, showcasing that many of the skills needed in a chief executive stay the same, even when the industry is drastically different.
YOUR ROADMAP TO A SUCCESSFUL INDUSTRY PIVOT
1. Self-Assessment
Before making any moves, take a deep dive into your motivations, skills, and values—especially as they relate to other roles.
- Conduct a thorough skills inventory. What are your transferable skills?
- Reflect on your core values. How do they align with potential industries?
- Consider your long-term career goals. How does this pivot fit into your overall plan?
2. Do Some Market Research
Before you throw your hat in the ring (or a headhunter does it for you), make sure you spend a bit of time learning about the market and the industry in which you may move.
- Identify growing industries that align with your skills and interests.
- Research industry trends, challenges, and opportunities.
- Understand the culture and work environment of potential new industries.
3. Conduct A Vocational Gap Analysis
Are you aware of the gaps between your current skills and what may be needed in the next role? A gap analysis can help you determine which skills can blur across your roles and which you may need a bit more work on before applying.
- Compare your current skills with job descriptions in the new industry.
- Identify key certifications or qualifications needed.
- Assess any potential salary disparities between industries.
4. Start Networking (Strategically)
Your network can be your most powerful asset in an industry switch. While many execs scoff at networking, there’s nothing more powerful than a word-of-mouth recommendation—particularly if you are moving between industries.
- Leverage LinkedIn to connect with professionals in your target industry.
- Attend industry-specific conferences and events.
- Join relevant professional associations.
5. Brand (or Rebrand) Yourself
Your personal brand needs to reflect your new career direction. You may already have a pretty firm personal brand, but I’ve found that many executives lack any type of digital footprint. Don’t be afraid to get online and start branding yourself based on your skills and experience.
- Develop a compelling narrative that explains your pivot.
- Consider creating content (articles, videos) that positions you as a thought leader bridging your old and new industries.
6. Be Prepared For Setbacks And Keep Pushing Forward
A career pivot is rarely smooth sailing. Resilience is key—and executives are particularly at risk of being caught off-guard by a rejection. Before you pull the parachute:
- Develop a financial cushion to weather potential salary changes.
- Be prepared for rejection and use it as a learning opportunity.
- Stay flexible in your approach and be open to unexpected opportunities.
EMBRACING THE PIVOT
A career pivot is not just about changing industries; it’s about evolving professionally and often as a person. It’s a big step that requires courage, strategy, and perseverance.
Remember, your diverse experience is an asset—it brings fresh perspectives to your new industry and can lead to innovative solutions. Be patient with yourself and celebrate small wins along the way. With the right approach, a career pivot can be the most rewarding professional decision you’ll ever make.
