Worried about competing in the current job market?
Feel like you're on the edge of a job search cliff?
If you are in business school, then this MBA lingo will be commonplace. However, for those of us who aren't business majors it can be both annoying and intriguing.
These days, it's common for job seekers to be compared to consumer products. Marketing concepts such as personal branding are being used to describe the job search game and marketing terms are often applied to job seekers.
Excuse the MBA speak. I work in a business school and it shows...
Red Ocean strategy - refers to a crowded, competitive market and "bloody battles" for positioning. For MBA job seekers this often occurs when hundreds of people compete for the top Fortune 100 companies and rare jobs. This is a very challenging approach and you have to be prepared to do battle.
Blue Ocean strategy - refers to a niche market. For MBA job seekers this occurs when you correctly identify your unique attributes and find a market (employers) who value these unique skills. Find a unique area where there isn't much or any competition. Easier said than done!
Find your Unique Selling Proposition (USP)
- What are the core competencies that everyone in your job sector or job title has? These are basic skills and are expected. They are not enough to differentiate you.
- Try to minimize areas of weakness in your skills or background. Pay particular attention to weakness' which are below expectations for people in your field.
- Work on developing unique skills which are a value-add for your job sector and job title. Employers may appreciate your unique skills. They may call you into interviews because of these skills. You may even get a job offer due to these skills. However, if they are not part of the standard job description for your title, you won't be paid extra for them.
- In the honey-moon stages of your new job, be low key about these unique skills. You don't want to create resentment amongst your new coworkers. Though, your employer will feel they got a deal when they hired you. Over time, you will become indispensible! When there are layoffs, you will be retained since your unique skill-set is hard to fine.