Opportunities in Herds
February 3, 2023
Remember when the term “Merger Monday” was a thing during the last wave of corporate acquisitions?
Now it’s shifted to “Make Plans to Find a New Job Monday,” as it seems that every Monday there’s more news of layoffs. There are reports out this morning, for example, that Dell plans to cut 5% of its global workforce.
What’s the common theme? Corporate America seems to manage by herd mentality. “If everyone else is doing it. . . “ often seems to be the justification for major decisions.
If you’re the owner of a small to medium-sized business, you may be thinking that while you have problems, dealing with the dysfunction of your former corporate job isn’t one of them. That thought alone may be a great start to your week.
Sure, be thankful for where you are, but also take some time with these thoughts:
–Who do you know in corporate who may be vulnerable and could use a friendly voice?
–Who do you know that’s been laid off, someone who could use a check-in call of encouragement?
And widening out the perspective:
–It may seem like it, but not all publicly-traded companies act like sheep. What major corporations are running against the herd, whether it concerns layoffs or anything else? What can you learn from their management philosophies and the success they've realized because of their willingness to go against the grain?
–What opportunities do you have to add new people because of layoffs you’re seeing? Maybe even an entire team that can bring a new line of business?
–What corporate accounts do you have a better shot at right now because of outsourcing decisions?
–What other business opportunities for your company do some of these layoffs create?
–Given the management behavior you’re seeing, what are you learning from it?
There’s a lot of opportunity as herds move around, opportunities both to serve and to grow. Stay alert out there!
Image created using Craiyon (Formerly DALL-E Mini)
(This blog post was also posted on LinkedIn.)
©Ray Business Advisors, LLC and John Ray
About me: I help solo or small professional services firm owners with the confidence and positioning necessary to improve their pricing and change the trajectory of not only their business but their life.
I have a podcast called The Price and Value Journey, which features interviews with industry leaders and audio versions of my blog posts. You can find the podcast on your favorite podcast app.
I also have a book coming out in 2023: The Price and Value Journey: Raise Your Confidence, Your Value, and Your Prices to Grow Your Business Using The Generosity Mindset.
For more information, go to PriceValueJourney.com