Gloves off: how to kill the competition

Larry StybelSTYBEL PEABODY LINCOLNSHIRE

lstybel@stybelpeabody.com

Three Issues

• Big Picture and Its Impact on Your Job Search.• How to kill your competition with primary and

secondary research.• How to ask the Killer Close and why it works

so well.

Big Picture

• Demographics is Destiny• Unlearning is Harder than Learning• Small is Beautiful

Big Idea #1: Demographics is Destiny

• “Vanishing Jobs? Blame the Boomers.” Philip Longman, HBR. March 2008

• An older population brings less opportunities for those seeking employment: corporate health care costs drives employers to seek alternatives to full time employment.

• As populations age, societies become more risk averse.

Implications

• Job Recovery will be 5-6% in Boston and 6-7% in the rest of the country.

• In a more conservative society, competence-trust will trump speed, aggressiveness, hunger, and risk taking.

• Hunger for Trust:

Questions?

What Era Did You Learn Your Business Habits/Framework

• 1913-1943• 1944-1974• 1975-2005

1946-1976

• Consumer is King: Unmet consumer needs from depression/WWII; growing Baby population means needs for things.

• U.S. unchallenged industrial producer.• Growing middle class.• Job search can be low key.

Unlearning is Harder than Learning

• Job Markets is harsher: global competition, shrinking middle management, shrinking middle class.

• Requires a more fierce and focused effort to secure new employment.

Implications

• Middle class is eroding and harder to stay in. Not your fault; not the Democrats/Republicans fault. Unique historical trend not likely to be repeated in our lifetime.

• There are more good people than good jobs and the competition is now global.

Questions?

Big Idea 3: Small is Where the Action Is

• MONEY MAGAZINE• December 02, 2010

• Two out of every three new jobs in the country is created through a small business . In the last month, small businesses were responsible for 58% of private sector job growth in the country.

• WALL STREET JOURNAL December 8, 2011• Eleven American companies have laid off

600,000 people in the past two decades.

Big Idea 3: Small, Unsophisticated Companies are Where the Future Is.• Big Companies are the ones doing the layoffs.• Smaller companies are doing the hiring: and

they don’t have professional HR.

Implication

• Opportunities with smaller, unsophisticated players is harder. They may not be able to articulate their needs. YOU HAVE TO DO IT.

• They may lack ability to access talent. YOU HAVE TO DO IT.

• In a world where trust is important, they mistrust people from large companies. You have to demonstrate trust-competence .

Questions/Reactions?

Kill the Competition

• Focus will be on the job interview A

ACTION STRATEGIES

• How to Kill Your Competition: remember Anwar Bose:

• “find out what your competition is doing and DON’T do it.”

• Trick is the design a campaign that outflanks your competition, is professional, and demonstrates competence-trustworthiness.

RECOMMENDATION #1: DUNKIN DONUTS RESEARCH.

• Dunkin Donuts Research. “What do you like/dislike about working at X Company?”

• Answer is less important than the reaction to the question.

• CFO of a U.S. division of a British owned manufacturing company.

Recommendation #2: do your homework.

• 10K to look at strategic analysis of comparable public companies for private companies you might be interviewing with. Weston awn & Garden Supply vs. Lowe’s; Dominos Pizza relative to Steve’s Pizza.

• Linkedin.com and investing businessweek (name)• Guidestar.com and Form 990• LexisNexis Academic Universe for private companies and

name of the CEO.• RMA Annual Statements• Dunn & Bradstreet Credit Reports (dnb.com). Look at the

realtionship between Paydex and current ratio.• Google.news

Questions/Reactions?

The Killer Close

• David Thomas Foreign Motors West and BMW.

• Client at life sciences company for FDA director.

Why does the Killer Close Kill Competition?

• Trust is the coin of the realm: I am not trying to sell; we are in the same boat.

• Risk aversion is increasing: we are in the same boat. You are not alone.

Summary

• Three Core Issues: demographics is destiny; we have to unlearn the lessons that were successful between 1947 and 1978; the opportunities are in small companies.

• Dunkin Donuts Research: kill competition #1• Over Research: kill competition #2• Killer Close: Kill competition #3

Questions?

Thank You

• Give me your business cards if you wish a copy of the slides plus a copy of the HARVARD BUSINESS REVIEW article I referred to.