Apply for a Job That Hasn’t Been Posted

When I graduated from college, I was looking for something that was kind of a hybrid of my degree (broadcast management) and internships (marketing in tech) and not coming up with much. I found the perfect digital agency that worked on children's television properties and I was thrilled.
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The catch? They didn't have any current associate producer job openings and it was during the recession. I spent time on crafting a thoughtful cover letter and sent it with my resume.⠀I ultimately got the job. Applying for a non-existent job at a company you really love is an option most people don't consider. Is it always going to end up working? No. But it's just like the Wayne Gretzky quote - "You miss 100% of the shots you don't take."
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If you're looking for a job, I don't think it's the best strategy to spend all your time applying for jobs that don't exist. However, if there's a company that you really feel would be a good fit and you want to give it a shot, do it. The worst thing that can happen is that you don't hear back. You could make a good connection, even if they don't currently have something that's the perfect fit. Or you may end up with the role and company of your dreams.
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Have you ever done this? How did it work out? Would love to hear your thoughts!