We have the FTX collapse, BlockFi collapse, and a host of other crypto players have gone under. Have you been laid off or concerned you might be since you are in a related field? In this short video, we describe 3 tactics you can do now to recover as quickly as possible.
Introduction to How To Get A New Job Post FTX Collapse?
Hi, this is Mike Mittleman, your personal career coach. I help people get top jobs in financial services.
Today I’ll be talking about “How to bounce back from being laid off or thinking you might be laid off due to the FTX collapse and contagion”
So, you made the transition from more of a more traditional finance job to the blockchain/crypto world sometime over the past 5 years. So many did. The entire ecosystem of blockchain/crypto is under attack. Some variants will survive, but you can’t afford to wait around to see what happens.
Maybe you worked at a bank, hedge fund, pension fund, or any number of more traditional companies before the big move.
Let’s talk about your 3-part plan to get you moved to a safer company or back to work if you were laid off.
Reward yourself for being a risk taker
You should reward yourself for taking a risk with your career, something most people I know would not have done. You tried something different which shows a healthy attitude of risk-taking. Even if you feel insecure or scared about your next move, you have gained valuable skills you can apply to a more traditional job.
Feeling good about yourself is the key to a job search. When I was laid off from Credit Suisse in 2007, I felt sorry for myself for years, not even months. You don’t have to fall into this trap. The best way I know other than expensive NYC therapists is to check out the Podcast “To be magnetic” by Lacey Phillips. Check out the 2-part episode How to create the career you want” dropped on Sept 30 and October 14 of this year.
Her podcast is all about how to retrain your brain to think differently with simple hypnosis and breathing exercises. She gives you a mindset shift that will do wonders for your self-esteem.
Besides, what else are you going to tell your grandkids about-that you were a person who never went for the gold, and took a chance? You are a great role model.
Form a Networking Group
Seek out others who you worked with, or you know in crypto and form a networking group. Meet 1x per week where all members can share their best ideas. Sure, the selfish ones will never join a group like this, but many will since you are never in competition with anyone besides yourself.
The only requirement should be that each person brings 1 new simple idea each week. It can range from advice on resumes/LinkedIn profiles to networking tactics that worked, etc.
Keep the group to no more than 7 professionals and have a group of members with diverse backgrounds, job types, goals, etc. Take the lead and be the organizer for the event. It really doesn’t have to be that much work. As a bonus, invite guest speakers like recruiters, career coaches, etc.
It can be amazing how you can form bonds for life. When I was laid off in 07, about 20 of us formed a group and met once per week at a law firm in midtown that donated the space. I was really depressed from staying at home every day. The chance to network, in person with a group was so uplifting. Many of those I keep up with today were members of this group.
Search LinkedIn For Key People
Search your LinkedIn connections for everyone and anyone still working on the buy side or sell side or well-funded Fintech. Once you identify 25-30 people you want to reconnect with, make a plan to get in touch with each with the goal of a coffee meeting or at least a zoom call.
Plan each meeting/call carefully. Don’t just let them know you are looking for a job. Provide them with actionable information so they can help you. Let them know you are looking for X job in ABC companies and do they know anyone in particular that can help you. Be specific since communicating a broad message won’t help your contact help you.
As a bonus, find 3 of their LinkedIn connections with whom you want an introduction and make the ask over a zoom call, sharing the screen so your contact has the visual of names and faces. For more information on this topic, check out my video entitled “How to find your connection connections on LinkedIn”
Summary: Bouncing Back
I hope you found this video on “How to bounce back from being laid off or thinking you might be laid off due to the FTX collapse and contagion”. Don’t forget to subscribe to my channel and download my cheat sheet to get found by the right recruiters on LinkedIn.Book a Call with Mike