It seems like things are slowing down.
Companies are pulling back.
I am hearing more about targeted layoffs and downsizing again.
Seem like just yesterday companies couldn’t find people, now they are letting them go.
From all indications, this will likely be the case for the near term.
In every challenge there is opportunity.
For those of you who have read my posts, you know that I am a strong proponent of growth during down turns.
While others are pulling back, this is a great opportunity to build your team for the future.
In the not-too-distant future, staffing will once again be a challenge.
Those that planned and found the people to round out skills for the future will be way ahead.
Why spend your time looking for talent when everyone else is as well?
One of the best times is when others are downsizing and people are wondering, “Am I next?”
If you can find and acquire the skills now that you may need when things turn around, you will be ahead of the game.
The other reality is that you may be able to leverage this new talent into acquiring new customers in a down market.
Doing that will help you gain market share while others are pulling back.
This approach requires you to be strategic about the skills you hire for and the timing for sure.
But the reality is that when conditions begin to improve, you will be ready to take advantage of the opportunity while others are just thinking about rebuilding their teams.
You might be thinking, “There may not be enough work to go around. Why would I add to my payroll when I am struggling to keep the current team busy?”
That is a factor for sure.
Now is the time when great leaders get creative in thinking of new ways to leverage the team they have to do more for their clients, expand their product line, or diversify.
Trying to do these things when your current team is already stretched to the limit often doesn’t work.
For those that have staying power, this can be a significant opportunity to gain market share.
I recognize that this may not work in every situation, but I can also predict what will happen when you follow the same path as everyone else.
Best case, you’ll end up the same place they are.
Now is the time to think differently.
Opportunistically.
Strategically.
Even Better Days Ahead!
Give us a call for a brief, no-nonsense strategy session from 35+ years of turning companies around during difficult times.
Tim Scholten has been nicknamed by many of his colleagues as the “ROI Repair Master” and he can bring this same clarity and Visible Progress to your business.
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