The key theme throughout the history centered around meeting the market need through innovation and reinvention. However, there were times when the company believed it was unstoppable and ignored the competition.
As a resume writer and career strategist, I began to think about the relation of this story to job search candidates.
First, I believe it is important for readers to understand the history of Sears. Then, I will apply the lessons learned from Sears to job seekers.
The History of Sears
Richard Sears, the company's original founder, started his "career" as an agent of the Minneapolis and St. Louis railway station in North Redwood, Minnesota. He was delivering a shipment of watches that was refused by a local jeweler. Seizing the opportunity, he purchased the watches himself and sold them to other station agents, making a handsome profit. In 1886, Sears began the R.W. Sears Watch Company in Minneapolis.
He advertised for a local watchmaker to cut out the middleman. The person who answered the ad was Alvah C. Roebuck. From there, they entered a partnership, which ultimately became Sears & Roebuck.
Sears saw an opportunity to expand his newly formed company through the catalog ordering and delivery business, which was targeted to rural America. Through volume purchasing of every kind of merchandise possible, he met the needs of these customers who were getting upset with local merchants charging them double the wholesale price for everyday products.
Sears was not the best organizer of systems, and his catalog was so popular, he was having a hard time fulfilling the orders. So, Julius Rosenwald, a Chicago clothing manufacturer bought into the company in 1895 and brought order out of chaos.
Sears & Roebuck grew exponentially over the years, and sold everything under the sun, including tools, bicycles (they made Schwinn a household name), violins, lumber, clothing, and home remedies. And, they guaranteed what they sold. However, some of the home remedies were "questionable" in nature, and the company decided to incorporate laboratories to test every product sold. This was the beginning of Sear's reputation as a quality retailer.
Innovation at Sears
Sears continued to be innovative, penetrating even more markets with the goods they sold or finding ways to boost sales. The most fascinating product to me was the "home kits." Individuals could purchase these kits and construct their own homes. This was Sear's answer to their lagging lumber sales. The largest order placed was by Standard Oil Company in a coal town and many of the homes are still standing today.
In 1924, Sear's opened the first retail store in Chicago to corner the market on "city dwellers" and it was an instant hit. The company expanded to numerous markets and became the largest retailer in the US, as they played on the theme of the "one-stop shopping experience." The company then decided to focus on the affluent customer. While it worked for several years, it eventually became the downfall of the company.
Complacency in the Marketplace
Sears had become very complacent, believing that no other company could topple their market dominance. However, K-Mart and Wal-Mart entered the picture, offering customers mass amounts of merchandise at a low price. Sears couldn't compete, lost market share, and went from #1 to #3 on the list of top retailers in the 1980s.
The Reinvention of Sears
Sears decided to reinvent itself by bringing on model Cheryl Tiegs to design a new line of clothes. They also opened AllState Insurance Company to meet the need for car insurance, and real estate and financial services and placed those offices in their retail stores. However, some of these ventures were short-lived.
Even though Sears tried to recapture the market dominance they once held, it was the opening of The Great Indoors, and the acquisition of K-Mart and Lands End specialty catalog, in addition to their quality products, including Craftsman Tools and Kenmore appliances, that proved to be most beneficial. Even though the retailer struggles today, the public still embraces the company as a trusted retailer.
Relevance to the Job Search
As a job seeker, there are many lessons that can be learned from Sears, as detailed below.
Find a need in the market and fill it.
Just as Richard Sears found a niche in the late 1800s, job seekers need to look at the current job market and determine where their skills can best be utilized.
Be Innovative.
Sears continued to be innovative in their approach to attaining more business. Professionals need to be continually striving to either come up with new ideas to help their companies make money or meet a market need. Further, recommending and leading new projects that are on the cutting-edge of a particular industry are great ideas, as well.
Don't Get Complacent In Your Career.
Many individuals get complacent in their careers. They believe achievements or tenure with a company will be enough to keep their jobs. I have found this is not always the case with my clients. When it is time for downsizing at a company, there are typically two standards that are measured - performance and cost of the employee. Sometimes companies will cut the highest salaried employees to make it easier for them to reach the "bottom-line number" to achieve stability.
So, how can someone combat complacency? There are many ways to do this. Be indispensable to a company or industry by being a thought leader. Develop a blog focused on a particular industry. Invest in continuing education, sign up for extra projects, earn credentials, and build the "brand" of a person who is always abreast of the latest trends.
Always Be Ready for the "Unexpected."
Even if professionals follow the suggestions above, it doesn't mean they won't be replaced by a company with someone who is younger or less expensive. Watch company or industry trends. If it appears that jobs are at risk, be prepared.
Have an up-to-date resume with measurable accomplishments and the proper format depending on position level. Start connecting with people now through LinkedIn or other social media websites. That way, if downsized, time won't be wasted locating people who could assist in the job search.
Reinvent Yourself.
As mentioned above, if your industry is in turmoil, figure out a way to reinvent yourself so you won't be left behind. Whether it is training in a new field or determining how to exploit your old industry, such as being a consultant to companies in your field, put the skills you have gained throughout your career to good use.
Always Develop and Guard Your Reputation.
My dad always says that the only thing you really "own" in this life is your reputation. Guard it well! No matter what, Sears has always had the reputation as a retailer than can be counted on with quality products.
Develop and guard your reputation. Be the trusted source of information, help other people with their careers, always be willing to take on a task without complaining, don't gossip about others, and be pleasant in your work environment.
In conclusion, if you approach your career with tenacity, innovation, preparedness, reinvention, and a stellar reputation, the likelihood of landing on your feet, no matter what shape the economy is in, is greatly increased.
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