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Boomer Reinvention Revisited, with John Tarnoff [Podcast]

John-Tarnoff

Episode #120 – Marc Miller interviews John Tarnoff about his current career developments.

DescriptionJohn-Tarnoff

On this episode, Marc catches up with return visitor John Tarnoff, writer of the guide, Boomer Reinvention: The best way to Create Your Dream Profession Over 50. John lives in Los Angeles, California and is a recovering movie studio government.

John spent about 35 years in the entertainment enterprise, beginning out within the 1970s as a literary agent and then a producer and studio production government for corporations like MGM, Orion Footage, De Laurentiis Leisure, Warner Brothers, Columbia Footage (now Sony), and a few others. He produced movies for about 15 years before listening to the siren music of know-how in the early 90s, when multimedia was arising.

John produced a handful of CD-ROM video games, which have been new and fun on the time. John went into enterprise with a associate who had an concept for a new know-how marrying synthetic intelligence with behavioral animation to create interactive, conversational on-line animated characters. The conversations would occur by textual content by means of the keyboard. That they had the system working over dial-up web and obtained an enormous deal with Dash for a customer service character for their website.

That was in 2001, because the tech startup bubble burst. John’s company fell into the opening, alongside with everyone else. Their Dash deal went South and their buyers pulled out. His associate informed him, “I guess the future’s gone out of style.” At midlife, John was at a crossroads.

Pay attention in to this fascinating episode to listen to how John aligned with his future by reinventing himself as an educator and coach.

Key Takeaways

[1:17] Marc welcomes you to Episode 120 of the Repurpose Your Profession podcast. Profession Pivot brings this podcast to you. CareerPivot.com is likely one of the only a few web sites dedicated to these of us within the second half of life and our careers. Take a second to check out the weblog and the other assets delivered to you, freed from cost.

[1:48] In case you are having fun with this podcast, please share it with other like-minded souls. Subscribe on CareerPivot.com, iTunes, or any of the opposite apps that provide podcasts. Share it on social media or just tell your neighbors, and colleagues. The extra individuals Marc can attain, the more he may also help.

[2:08] Next week, Marc shall be discussing the Millers’ subsequent steps in turning into expats in Mexico, relating to banking and their initiation to the resident visa process in Mexico.

[2:21] This week, Marc interviews John Tarnoff, writer of Boomer Reinvention: How you can Create Your Dream Career Over 50. Marc interviewed John in Episode 19 but needed to do an update with him.

Now on to the podcast…

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[2:33] John introduces himself to the listeners, at Marc’s invitation.

[6:11] After the tech bubble burst and John’s firm failed, he was 49 years previous, had no concept what he was going to do subsequent, and was not thinking about going back to the same Hollywood jobs where he had began.

[6:30] John didn’t assume anyone was going to hire him into those same jobs. So, he “bet the farm” on a reinvention. He remortgaged his house for the final time to build himself enough runway to determine his future.

[6:49] John went back to high school to earn a counseling psychology diploma because he needed to study more about himself, what made him tick, and how one can work together higher with others. He supposed that in the course of he would work out something to do.

[7:15] That was a darkish time for John. In one among his courses, he discovered of somebody getting a dream job with very best circumstances and he thought, “Great. Miracles are for other people. They’re not for me.”

[8:00] John didn’t foresee that nine months later he can be working for Dreamworks Animation at two-and-a-half occasions his former government wage, doing work that was really aligned with where he needed to go.

[8:48] Dreamworks was transitioning from a standard animation studio to a computer-generated animation studio. John knew the CEO, Jeffrey Katzenberg, from his Hollywood years. He was clearly a visionary. He had put the company collectively with Steven Spielberg and David Geffen after being fired from Disney in 1994.

[9:30] Dreamworks had turn out to be very successful with Shrek. Individuals John knew there inspired him to hitch them. There were no open jobs, so he began networking. That taught him that if you come into a gaggle of individuals, bringing your most heartfelt, genuine, inquisitive, and service-oriented “game,” you start stepping into conversations.

[10:15] If the alignment is there between your self and their thoughts and wishes, then there’s the start of a chance. That’s what occurred for John.

[10:33] This was a company that was very progressive, at the intersection of creativity and know-how, and it was in line with the work John had been doing in his startup. They saw that and in June of 2003, John was in Jeffrey’s office making a deal to work there. It was his greatest Hollywood job. He stayed by means of 2009.

[11:14] That job utterly set John up for the work he’s doing at this time.

[11:18] When John had worked earlier in Hollywood, he had appeared ahead to a time when he might educate and assist individuals. He’s an “organization freak” and he likes to see how things get laid out, and how individuals’s minds work. Each time he had a chance to inform a category of scholars concerning the work he was doing, he jumped to do it.

[12:05] That outlined his position at Dreamworks. When he interviewed, he needed to know what they have been doing about future generations, for training and improvement. They hadn’t provided that much thought. It was not a core driver for them.

[12:29] After John had been at Dreamworks for a few yr, they began to comprehend that their human capital needed some “recharge” and that they had to broaden their fascinated with the place they have been getting their talent. Their expertise was not coming from the normal sources.

[12:48] Most of the specialists and department heads decided they wanted to “grow their own.” They turned to John and, based mostly on his interest in schooling, asked him to construct a program. That’s what he did, with a faculty outreach program and an inner virtual university.

[13:16] This changed his position from a production troubleshooter to being totally embedded in the outreach program. They started with seven faculties in 2004. By the top of 2009, that they had over 40 faculties within the network. It was quite a culture change.

[13:51] In the wake of the recession, Dreamworks was seeing the necessity to batten down the hatches, they usually began specializing in monetizing their present IP and pulling again from their faculty outreach. John parted ways with Dreamworks. It was amicable they usually stored inviting him to their parties! To today, he and Jeffrey are on good phrases.

[14:58] The Dreamworks job was a phenomenally constructive expertise, and it helped John make this transition full-time into schooling and coaching. The following yr, John began a place at Carnegie Mellon College. John says, timing is every part, but it’s a must to set yourself as much as be a goal when the timing is true.

[15:28] In 2010, Carnegie Mellon had arrange a really revolutionary program in Los Angeles with cross-disciplinary initiatives for sort of an MBA for a way the leisure business works. Entertainment is a very unique enterprise. This system is for individuals on the enterprise aspect of movie, TV, video games, and music.

[16:33] They have been on the lookout for somebody to round out their Los Angeles administration staff. They needed somebody with business background who might stability the extra academically-oriented full-time program director. John partnered with that individual they usually grew the program fairly successfully during the last nine years.

[17:11] It has been an awesome anchor position for John whereas he has gone on to do “a bunch of other stuff” in a portfolio career.

[17:32] John considers a portfolio career to be very related to individuals of their late career levels, in their 50s and older, who’re making an attempt to determine how they’ll hold working and what they’re going to do. It’s not going to seem like the primary 20 or 30 years of their profession.

[18:01] John is 67. He’ll hold working as long as he needs to and so long as he must. Most Boomers are skating a very fascinating line between longevity and bank account. When the retirement pension system was first set up within the 1860s it was set at 65 as an age by which most manufacturing unit staff have been both lifeless or not a few years from it.

[19:11] As longevity has grown during the last 100 years, pensions have grown more and more troublesome for companies. All guaranteed defined profit packages are affected by extended lifespans of the individuals. We are in a real retirement disaster.

[19:44] In case you are 65 immediately, you could have a minimum of a 25% probability of dwelling to 90. Yearly you reside longer than 65 will increase your probabilities of dwelling to 90 or past. The typical retirement age is 62. Should you reside till 90, one-third of your life might be spent “in retirement.” Must of us don’t need to spend 30 years queuing up for sunset specials.

[20:33] The Boomer Era needs to stay extra engaged. That doesn’t mean working nine to 5. We are going to proceed to remain engaged in the work that we love to do. What we need to do may be totally different from what we did in our 30s and 40s.

[20:56] We are going to have to maintain earning money as a result of the typical retirement account in case you have one, is about $100Okay. That’s not going to last you 20 or 30 years. Lots of people are downsizing intelligently and taking a look at methods to stretch their dollars.

[21:43] We’d like to consider ways to complement the revenue we have already got from Social Safety and our savings as a result of there are going to be unpredictable things that happen. Healthcare is an enormous item, as well as family points and logistical questions. We’ve got to be better prepared, financially, for this prolonged interval of life and engagement.

[22:14] John’s portfolio after Dreamworks consists of his consulting work on the intersection of schooling, know-how, and leisure. For the first few years, he was consulting with business corporations, commerce associations, and faculties round the future of expertise search, curriculum, and expertise.

[22:59] In 2012, John was asked to current a TEDx speak and the topic was Transformation. As he had been studying up on all the problems the Boomer Era had had, coming out of the recession, round retirement, financial savings, and getting jobs, he requested, if we’re dwelling longer and no one needs to hire us, what are we going to do?

[23:53] John realized, we’re going to need to take duty, one way or the other, for this. If we do, then what does that appear to be? That’s when he came up with the thought of 5 profession reinvention steps. That turned his TEDx speak. After that, individuals stored asking John what he was going to do with that — does he coach? John stated, positive, in fact, he coaches!

[24:24] So John began working with individuals around some of these questions and to implement the 5 steps to reinvention.

[24:37] The 5 steps are: 1) Reframe your concept about who you’re and what you can do, 2) Pay attention and understand how the world has modified, three) Reconcile the previous; don’t convey your unhappy baggage into meetings, four) Categorical these new concepts about what you would do, and 5) Community. Understand who can do what, and what you are able to do for them.

[26:16] Most significantly, you’ve obtained to all the time be giving in your networking activities. Build the relationships vital to place you in entrance of the individuals who can profit from what you need to supply. You don’t build a network by sending out resumes, as a result of no one is going to learn them.

[26:37] Marc says one of many key pieces is that you are never going to do this alone. Marc’s own enterprise coach taught him to know the issues that he wants to go away behind. Lots of belongings you’ve completed in your profession, you don’t need to do anymore, no matter how good you have been at it.

[27:21] John sees lots of shoppers that have problem giving up the social cohort they’ve gathered after working 20 years with the identical individuals and then being let go from the job. Individuals discover it exhausting to let go of that job. Even when they have been downsized, they need to go back. It’s essential to be able to reconcile the previous to check your future.

[28:30] Marc had encouraged John to complete his guide. So John has a guide, he’s teaching, and he works at Carnegie Mellon. What else does John need to be doing in 5 years?

[28:50] John needs to proceed on his present path. His coaching has advanced from one-on-one to small groups, to larger groups, and now, with UCLA Anderson Faculty of Administration, coaching groups of 20 alumni on-line, on Zoom, who are going via career transitions. John is teaching them as a gaggle with his five-step process.

[29:33] A few of them are returning to work after an absence. Some have been let go. Some are considering making a move. There are all types of fascinating permutations along the thought of transitions.

[29:49] John appears to be following an arc of reaching increasingly individuals with this system. This yr, he’s engaged on placing this all into an internet course, which can go through five steps, 23 methods, and 6 key expertise, and provides individuals the opportunity to pursue a self-guided course with some group mastermind interplay with John.

[30:41] Marc talks about his group membership website and makes some observations about the price of one-on-one coaching. The individuals he actually needed to work with couldn’t afford it. The group mannequin permits for larger flexibility. Marc can do it from Mexico.

[31:19] One of the widespread themes of parents in Marc’s online group is that everybody needs freedom. They need to work once they need to work, how arduous they need to work and choose what they need to work on. Their concepts about that have modified over their careers.

[31:51] John says Boomers are becoming extra like the Millennials. Marc says to take heed to your emotions and see what you’re telling yourself about what you need to do. Most of us acted in roles and acquired paid to play those roles. If we did them lengthy enough, we started believing we have been those roles.

[32:29] When Marc hit his 50s, it turned exhausting for him to stay in character.

[32:42] John will in all probability nonetheless be in California in 5 years. He has an city homestead with his love. They’ve a coop with 20 chickens, greens, and an amazing spot of land beneath the mountains. It’s a stunning day, there. He doesn’t see shifting earlier than his early 70s.

[33:43] John hopes to continue working with Carnegie Mellon. It’s a great time for teenagers to be getting into the entertainment business. He likes to work with Boomers, too. He says it’s a fantastic opportunity to be working on each ends of the career spectrum, young individuals beginning their profession and older individuals taking what could also be their ultimate career steps.

[34:42] Marc talks a few panel he sat on in October 2017, including a man from New Zealand — where school graduates often transfer away from the island — whose job was to help corporations retain their older staff. The person commented to Marc, “If you want to work into your 70s, you need to plan that in your 50s.”

[35:17] Your work between your 50s and your 70s will in all probability not be a full-time job, and it will in all probability be a set of things or a portfolio. That’s the key piece. Marc has several members of the web group who’ve their heads wrapped around the truth that they’re not doing only one thing.

[35:45] They could work more durable than they used to, doing stuff they take pleasure in. They don’t seem to be essentially working for a single employer on a set schedule.

[36:08] John suggests for listeners first to read his ebook, Boomer Reinvention: The best way to Create Your Dream Profession Over 50. That may give them a transparent concept of whether they’re aligned with John’s considering.

[36:40] You possibly can attain John via his website, JohnTarnoff.com, comply with him on Twitter @JohnTarnoff, or on Fb, @JohnTarnoffCoach. He loves interacting with individuals and serving to them get in the appropriate path.

[37:30] Marc thanks John for being on the Repurpose Your Profession podcast.

[37:40] Marc hopes you loved this episode. As it turned out, they never have been capable of meet in Austin when Marc and John have been both there. Austin was hectic and congested with 50Okay guests to SXSW Interactive Week.

[38:09] The CareerPivot.com/Group website has turn into a helpful resource for greater than 50 members within the Beta part of this undertaking. They have crossed the 50-member threshold! Marc will probably be recruiting new members for the subsequent cohort in a number of weeks.

[38:24] In case you are within the endeavor and want to be placed on the waiting listing, please go to CareerPivot.com/Group. Once you enroll you’ll receive information about the group as it evolves.

[38:37] These in the preliminary cohorts will get to set the path for this endeavor. This can be a paid membership group with group coaching and particular content material. More importantly, it’s a group where you’ll be able to search assist. Go to CareerPivot.com/Group to study extra.

[39:01] Marc invitations you to connect with him on LinkedIn.com/in/mrmiller. Just embrace in the connection request that you simply heard Marc on this podcast. You’ll be able to search for Career Pivot on Fb, LinkedIn, or @CareerPivot on Twitter.

[39:20] Please come again next week, when Marc will talk about the Millers’ subsequent steps in turning into expats.

[39:25] Marc is recording at this time’s intro and outro segments in Matehuala, Mexico, on their means back. The subsequent day they will be driving into Ajijic after a three-week journey to Austin and again.

[39:47] Marc thanks you for listening to the Repurpose Your Career podcast.

[39:50] You’ll discover the show notes for this episode at CareerPivot.com/episode-120.

[39:57] Please jump over to CareerPivot.com and subscribe to get updates on this podcast and all the opposite happenings at Profession Pivot. You can too subscribe to the podcast on iTunes, Stitcher, the Google Podcasts app, Podbean, the Overcast app, or the Spotify app.

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Tejas Sachdeva

Tejas Sachdeva

The technical guru, with over 2 years of experience in web designing and coding. Undoubtedly the greatest technical asset present at VerfiedTasks. His work ethics are second to none, an honest guy with a huge heart who is always willing to help others. He discovered the Blockchain world at the very start and being his usual self who is always ready to explore and learn, he began doing his own research which has provided him with a ton of knowledge in this department. His helping nature is what motivated us to start this small initiative known as VerifiedTasks.