Adopt a Company of One Mindset.
The Future Does Not Fit in the Containers of the Past. Edition 203.
Today, exactly five years ago on June 30, 2019, I ended a wonderful 37 year full-time working career at a 100,000 plus person company (though I am fortunate to continue to work with it in a different way) and began a new career as a company of one.
During the next few weeks I plan to share my learnings and insights because I have come to believe that even if one works at company the scale of a Walmart or Amazon it behooves everyone to have the mindset of a company of one because such a mindset will a) allow one to perform better at a large company, b) ensure a longer career at any company that one loves and admires, c) maximizes options and d) ensures that one is prepared for potential radical changes in the future of work.
My learnings are informed by my own experience, speaking with and observing the experience of others, working with and visiting over 100 companies around the world in the past five years and deep research involved for my next book Rethinking Work.
A Company of One mindset will allow one to stay longer, perform better and be happier at any company from small to midsized to giant while ensuring that one remains relevant and future proofed should one decide to move on or is at the wrong end of a “right sizing” or “delayering” initiative.
Better performance and longer tenure at your current firm while ensuring you are future proofing your career and maximizing your options.
Future posts will cover everything from what, how, when and much more but today is about the “Why a company of one mindset” will be critical.
Why A Company of One Mindset.
It is projected that in 2027, 86.5 million people will be freelancing in the United States making 50.1 percent of the population.
A combination of five forces is driving this re-configuring of the workforce:
Aging: In the United States 10,000 people turn 65 every day and many of this group continue to work because they need to so as to make ends meet, or want to for reasons of identity, community, purpose and/or growth but cannot or do not want to work full time for a company. Many firms which are finding it difficult to access certain skills and experience are now becoming far more flexible in their approaches to retaining their seasoned workforce on a part-time basis.
New Mindsets: 76 percent of Gen-Z want to work for themselves and 66% of Gen-Z who hold a full-time job also have a side-gig or side-hustle. In addition, Covid-19 have many people re-framing the question of how life could fit into work ? with how does work fit into a life?
Remote/Hybrid Work: Remote-Hybrid work provides the flexibility to work anywhere for anybody which can enhance opportunities to get work while moving to locations that cost less which allows for more career options.
The Technology powered Gig-Economy: New marketplaces from Fiverr and UpWork to find talent and work, AWS and Open-AI to access technology, Etsy and Shopify to sell and connect to marketplaces, Tik-Tok and Meta to connect and brand, combined with companies need to remain agile is driving more talent and firms to a plug and play workplace.
AI and Blockchain: While AI may not lead to fewer jobs it is going to change the nature of most if not all jobs and the half-life of skills are going to decay considerably faster. Blockchain while out of favor will eventually be seen to be essential to trust in an AI world and will enable more ownership and equity for individuals. Most importantly many of these technologies are now providing super-computing power to everybody who cares to learn, allowing individuals to get all the benefits of scaled companies.
Whether it is finding work post-full time career, working a side-hustle or passion project to make ends meet, building an expertise, creating an off-ramp from a full time job, or filling the gaps between full-time employment at firms which are often trigger-happy in adding and removing talent from their payrolls, the smart professional prepares to be a company of one.
This includes everybody including the CEO’s, EVP’s, SVP’s and not just mid and entry level executives.
a) Your current job is a gig job: Companies are creating internal marketplaces where opportunities can be identified and applied for and teams of experts can form and dissolve around projects like consulting firms and the entertainment industry have long done. This will make leadership evolve from zone of control to zone of influence. And tenure will grow less important while relevant skills and ability to incorporate new ones will grow more important.
b) Managing is not enough: In an age of “de-bossification” increasingly people will ask senior folks what they actually do, make or build which means enhancing ones craft and skills and relevance. Allocating, delegating and monitoring will grow less important.
c) Knowledge is fungible: AI is making knowledge free and anybody who believes years of expertise are going to be a moat will be surprised if one is not building new skills and new expertise.
As a result, for an individual to thrive in a company they will need to learn how to operate as a company of one by being “up to tomorrow” and “market competitive and relevant”.
Every one must become a super person.
A true power of one.
The combined power of the Avengers is because each of the Avengers is powerful on their own and not just because they learn to work as one.
What this series of posts will cover.
a) Why a company of one is not about one person or an individual focus but is highly dependent on others and on team work. Why collaboration, reputation and connectedness are key.
b) How to future proof your career and take charge of its navigation with a company of one mindset.
c) The challenges, risks and surprises as well as the fun, flexibility and financial upside a company of one mindset can enable.
d) The steps one can take to become a company of one in a way that is transparent, aligned and supported by your large firm or if you find yourself without a job.
e) Why smart companies and leaders of companies of all sizes but particularly large ones will increasingly encourage a company of one mindset to remain competitive, ensure agility and retain talent. A company of one mindset is great for a company of a million!
Rishad Tobaccowala leverages forty years of global experience across dozens of industries to help leaders and companies thrive in transformative times.
What a great approach to things. Looking forward to the series of posts on this subject.
This is one of Rishad’s best topics and Inlook forward to the learning’s of the next few weeks. “A Company of One” is a guide for those working in large companies or starting off on their own. It’s really about taking total responsibility for your own destiny and being utterly light and adventurous about what happens. Being Production and Marketing and Finance and Research and Sales and IT and Customer Service and Social Responsibility all in One! Truly powerful!