Adapting to Industry Shifts and Navigating Career Transitions with Lance LeFort

Welcome to another episode of Milestone Moments, where we delve into insightful conversations with industry leaders. Today, we have Lance LeFort, the CEO of Lefort Talent Group, a strategic management consulting firm.

Lance kicks off by sharing his entrepreneurial journey, tracing back to a challenging startup that ultimately led to the founding of Lefort Talent Group. He highlights the pivotal moment that fueled this transition, emphasizing his unwavering entrepreneurial spirit.

Lance LeFort, CEO of Lefort Talent Group, a strategic management consulting firm, shares his background, emphasizing his entrepreneurial spirit and the pivotal moment that led him to transition from a challenging startup to founding his own firm.

Challenges and Opportunities: Lance discusses the challenges and opportunities faced in the early days of Lefort Talent Group. He emphasizes the specialized nature of recruiting and the role of strategic planning in workforce management. Lance highlights the significance of his network in propelling the business forward.

Client Spectrum: Sheila explores the size of companies served by Lefort Talent Group. Lance explains their broad spectrum, ranging from small to mid-sized and even multinational corporations. The sweet spot is in the small to medium-sized range, but they successfully work with larger organizations.

Leadership Lessons: Lance shares valuable leadership lessons, discussing the delicate balance between holding on and cutting too quickly. He emphasizes the need for strategic planning, honest conversations within the management team, and bridging gaps between high-performing personalities.

Navigating Layoffs: Sheila explores the emotional aspects of leadership, particularly in layoffs. Lance details his experience in coaching leaders through role-play scenarios, stressing the importance of preparation and having an external perspective to navigate legal and emotional complexities.

Support for Employees: Angela Brown raises the question of support for employees affected by layoffs. Lance explains Lefort Talent Group’s coaching and assistance for individuals transitioning into new roles or considering entrepreneurship. He highlights the benefits of an external consultant guiding individuals through career transitions.

Transition Counseling and Coaching: Lance discusses the approach and handling transitions, especially in large organizations, mentioning the involvement of outplacement providers for large teams and transition counseling for individuals. He shares the ongoing development of a coaching program, particularly for executives considering fractional work and pivoting.

The Rise of Fractional Executives: Lance elaborates on the emerging trend of executives opting for fractional work, working three to four days a week or part-time. He emphasizes the need for a framework and training to support fractional executives and addresses the challenges they face in marketing themselves and adapting to new skills.

Sales and Marketing Challenges: Lance dives into the challenges faced by individuals transitioning from traditional employment to entrepreneurship. He highlights the common struggle with sales and marketing, emphasizing the need for learning, coaching, and sometimes outsourcing these aspects to specialists.

Financial Literacy in Entrepreneurship: Sheila brings up the importance of financial statements and record-keeping for entrepreneurs. Lance shares his experience and advises on the value of outsourcing accounting tasks to specialists, allowing entrepreneurs to focus on their core strengths.

Focus on Creative Tech Industry: Lance provides insights into the creative tech industry’s recent turbulence, discussing the impact of the pandemic, the subsequent boom, and the current challenges, including layoffs and industry-wide shifts.

The Evolution of Industries: Lance reflects on the dynamic changes in various sectors, including video games, AR/VR, visual effects, and animation. He discusses the flattening of these industries and the need for individuals to adapt, considering the impact of AI and the evolving landscape.

Navigating Turbulent Times: Lance stresses the importance of embracing AI, continuous learning, and planning for multiple career contingencies. He encourages individuals to view their careers as their own businesses, preparing for rapid changes and uncertainties.

Key Takeaways:

Entrepreneurial Journey: Lance’s entrepreneurial journey began with a challenging startup, leading to the founding of Lefort Talent Group.

Network Impact: The power of Lance’s network played a pivotal role in propelling the business forward.

Client Spectrum: Lefort Talent Group serves a broad spectrum of clients, from small to multinational corporations.

Leadership Lessons: Striking the right balance between holding on and cutting too quickly is crucial. Strategic planning and honest conversations within the management team are essential.

Emotional Leadership: Managing layoffs requires preparation, role-play scenarios, and an external perspective to navigate legal and emotional complexities.

Employee Support: Lefort Talent Group provides coaching and assistance to employees affected by layoffs, emphasizing a strategic approach to career transitions.

Transition Support: Large organizations may involve outplacement providers for team transitions, while individuals benefit from transition counseling and coaching.

Fractional Executive Trends: The rise of fractional executives prompts the development of coaching programs to support those pursuing part-time roles.

Sales and Marketing Challenges: Individuals transitioning to entrepreneurship face challenges in sales and marketing, requiring learning and potential outsourcing.

Financial Literacy: Entrepreneurs should prioritize financial literacy, considering the importance of accurate record-keeping and financial statements.

Creative Tech Industry Challenges: The creative tech industry faces significant challenges, including layoffs and industry-wide shifts, leading to a need for adaptation.

Adapting to Industry Changes: Industries such as video games and visual effects are experiencing rapid changes, emphasizing the importance of adaptability for individuals.

AI Impact: The impact of AI on industries accelerates changes, requiring individuals to stay informed, study AI, and plan for various career contingencies.

Career as a Business: Individuals should view their careers as businesses, planning for uncertainties, and continuously learning to stay ahead in a rapidly changing landscape.

Connect with Lance LeFort on LinkedIn or visit www.lafortetalentgroup.com for more information.

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