Navigating the world of opportunity

Practical pointers to the challenge of navigation

(pages 42-43 of printed journal)

A world of opportunity

As you enter the commerce profession with a degree from what is widely acknowledged as one of the finest universities in the world, the hard work and sacrifices you have made will be worthwhile. Your degree is a passport to any occupation across the globe. And what a world of opportunity awaits you - a far more sophisticated and exciting world than the one I entered when I stood in your shoes 27 years ago.

Back then, personal computers and mobile phones were in their infancy, the Internet had not yet been invented, financial markets were heavily regulated and the scope of business was very much national rather than international. Today, the communications revolution, the deregulation of financial markets and the globalisation of so many industries and businesses means that the world of commerce offers a huge variety of exciting career opportunities which can literally be pursued anywhere in the world. For example, Moscow, Mumbai and Shanghai are rapidly becoming vibrant and important commercial centres which one day may challenge the traditional centres of London, New York and Hong Kong.

How to navigate the world of opportunity

Your key challenge is how to navigate this wonderful world of opportunity to achieve a successful career. It is a genuine luxury to have so much choice, but that luxury brings with it the burden of decision-making. Drawing from my own career experiences over the past 27 years, I offer you a number of practical pointers to aid in the challenge of navigation.

First and foremost, I encourage you to take control of the agenda for your own career and to proactively exercise choice over what you do. Do not revert to the default options or unthinkingly follow what others say you should do. You must decide for yourself, and you must believe in yourself. Only then can you take the risks that you will need to take to test and stretch your abilities.

Second, the key to real career fulfilment and satisfaction is to find something you are passionate about and to excel at it. As a society we are obsessed with wealth and use it as a measure of success. It is far from being the right measure. In today's world we are blessed by a plethora of career paths in which we can earn more than enough to satisfy our material wants and desires.

You will only ever experience the inner satisfaction of having achieved your potential if you focus on something you really enjoy and work hard at it.

You are extremely fortunate if you have already found your passion. For most of us, and this is my third point, we need to explore some alternatives before we settle on a vocation. For this reason, I would strongly advocate that you get as much general experience as possible in an area before you specialise. I am conscious that this is easier said than done as we live in an increasingly specialised world and there is a significant financial incentive for you to go immediately into a narrow specialisation upon graduation. It is important to remember that leaders of organisations have to have broad experience, and one of the key building blocks of leadership is a comprehensive understanding of the principles of business. That understanding is best gained early. I believe the new Melbourne Model is designed to help address this point of breadth and I applaud it.

Fourth, it is important to gravitate towards talented people. The talent of your immediate circle of colleagues and superiors should be the single most important criterion in choosing your first job, as they are the ones who will teach you, mentor you and challenge you to achieve your potential. Later on, when you are the master rather than the apprentice, talented peers and subordinates will keep you sharp. You only need to look at the number of new world records set at the Beijing Olympics to comprehend the power of bringing together talent from all over the world in a competitive environment.

Fifth, every human endeavour is intrinsically social and none more so than business and commerce. People tend to deal with those whom they know and trust. As you develop your career, it is important to build and maintain a network of relationships with those you interact with. It is far easier to get a hearing for a new initiative if you have dealt with the person in the past or if you have a reference from a mutual friend. On that note, now is the time to start maintaining the network you have built here at Melbourne over the past few years; and I would encourage you to join the Commerce Alumni Society. It is a great way of keeping in touch with your fellow alumni.

The question of trust brings me to my sixth and final point, that of integrity. As you build your career and assume leadership positions of greater magnitude, you will find that your greatest asset is your reputation. People will generally be reluctant to deal with you, to partner with you, to mentor you or to work for you if they do not trust you. Building a reputation of integrity takes years. It can be destroyed in one foolish act. As the saying goes, 'up by the stairs, down by the elevator'. Do not let the siren songs of quick riches or dazzling promotions lure your career onto the rocks. Believe me, you will all be tested at some point in your career and it will take real courage and clarity of mind to say no.

All that remains for me to do is to wish you bon voyage. And please carry with you the enduring words of Virgil: 'Fortune favours the brave.'

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An edited version of his Occasional Address delivered at the graduation on 23 August 2008.

Mr Anthony R Burgess recently retired from the position of Global Co-head of Mergers & Acquisitions for Deutsche Bank AG in London and is a Director of Diversified United Investments Ltd., Melbourne.

Volume 5 APRIL 2009

Navigating the world of opportunity

A world of opportunity

How to navigate the world of opportunity