Research the industry what is going on that will help you understand the larger environment in which the company operates? What is the competition doing?

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Develop some initial thoughts about problems the company might be facing and how you and your expertise represent solutions.

Clarify your value.

What do you have to offer$ Think about what you know, what you can do, and how you can help a company. Make a list of the three, four, or five most important assets you bring to the table and be sure you phrase these in terms of value/benefit to the company, not simply knowledge or experience. For example, “five years of experience in business development within IT services industry” is not particularly meaningful to an employer. Instead, phrase it this way: “five-year track record of developing new IT services business with Fortune 1 clients in every major market in the Midwest.” Now that's something a company will be interested in acquiring.

You might come up with six, ten, or even more areas of value or expertise. (Hint: Most of these should be present in your resume.) In preparing for your interview, pare your list to those that are most relevant to the company and the position at hand. Focus your interview preparation on these critical areas.

Prepare CAR stories that communicate your value.
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CAR stands for Challenge-Action-Result.” You might have seen it expressed as a SAR, STAR, SPAR, or SCAR story - the concept is the same. CAR stories - containing a clearly articulated challenge (or situation), then action (what you did to address it), and result (the outcome, phrased as a benefit to the company, its customers, employees, etc.) - are a very valuable interviewing technique. They allow you to present concrete, believable, very specific examples of ways you have used the skills and competencies necessary for success in the role you're interviewing for.

Some companies, in fact, use a structured interviewing processed called Behavior-Based Interviewing whose core component is exactly this kind of question “Tell me about a time when…” “Give me a specific example of …” “Describe a situation when…” If you take the time to prepare your CAR stories, you will shine in this type of interview. Not only that, you can use your stories as concrete examples of your skills in ANY type of interview situation, and you'll have a huge advantage over candidates who simply communicate how they “would” do something or “usually” do something.

Remember that the person you are meeting with can become a meaningful relationship over time
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Be wary of viewing this informational interview as a one time event. If you make the right impression and follow-up, you can nurture the relationship over a very long period of time…the essence of networking

Have realistic expectations

It isn't often that an informational interview turns into an actual interview or even a direct contact who knows about a real job. It's great if this happens however it's important to keep your expectations very real. You may simply learn a few pieces of helpful information or be referred to one person and this is okay.

An informational interview is an important business appointment

The person you are meeting with is taking his time to meet with you and share his expertise, so be sensitive to his needs and what's convenient for him as far as location and time. Be sure you know the person's name, how to pronounce it and what his title is. Don't waste his time by being unprepared during the meeting.

Follow the same etiquette you would in any meeting - show up on time and properly dressed. You don't need to wear a suit, but you also don't want to look as if you've just come from a barbecue on the beach. Finally, don't overstay your welcome during the meeting.
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There are so many resources for finding people to ask for informational interviews…use them all.

Ask your classmates, friends, and colleagues to make introductions

* Go to a social networking site such as Linked In to find people to meet

* Ask contingency or executive recruiters for referrals

* Cold call a celebrity, author, or business executive you admire

* Go onto specific company websites and identify people you'd like to meet

Do your homework about the kind of information you are looking for before you start asking people to meet with you.
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