One of my clients, Jerry, is a three-handicap golfer.
And for each weekly meeting, he shares his success on the golf course.
Living in Chicagoland, Jerry has a short golf season, so he takes advantage of the times he can play.
Jerry is excited as we turn toward business.
He shared with me that he secured a CFO role.
He is in the light industrial staffing business and an excellent talent evaluator but not in the C-Suite area, so he said, “Help.”
He got the search as the CEO, Barry and he were friends, and the CEO trusted that Jerry would deliver.
We created a strategy, workflow, email, and messaging content.
So, I repeated what Jerry wants in his next CFO.I also said there’s more that he’s not telling you. I have hired CFOs and shared what I would seek. Then, we crafted questions for him to ask candidates.
He started the search with one hundred fifty-two people in his initial reach out.
He got the typical “no thanks or not now.” from about half of the candidates.
The other half continued to the next step.
Four candidates were head and shoulders better than the rest, so Jerry presented his slate to Barry.
Barry liked one candidate and wanted to move forward with presenting an offer.
Then, the cart came off the track. Barry said he was ready to offer a number to the leading candidate. Jerry urged him not to, as it was significantly less than what was already conveyed to Barry, and Jerry knew that the candidate would laugh at it and decline.
Jerry and I discussed this as a possibility, as the comp range was broad. The people on the lower end of the compensation range needed more expertise to help Barry accomplish his goals. Along the way, Jerry shared with Barry what compensation package would land him the person he was interviewing.
Jerry and I met on Monday and discussed what transpired with him and Barry.
Again, he said, “Help.
“I said, “Jerry, share with Barry the process you used, the number of people you talked with, the candidate deliverables he wanted, and where the five people were from a compensation perspective. Then, ask him, if base comp is $20k higher than the low end, what is that month? Will a strong candidate be worth that? Will a strong candidate help you sell your business in three to five years and cash out $20M or more? Would you think that this would be a good investment?”
Jerry talked with Barry the next day. He shared the story of his conversation. He executed our plan perfectly. And now Barry and Jerry have the cart back on the path to make an offer to land the candidate.
Jerry said, “What do I do if the deal does not get closed?”I said, “Jerry, you did a great job. Imagine that you shot a sixty-seven, and you are in the clubhouse, and three of the world’s best golfers have three holes to play, and they are two strokes behind you. What can you do?”He said, “Mark, I am in the clubhouse. I have posted my score. I must see what happens.”
Yes, Jerry executed the search incredibly well. And while Barry and the candidate are, in principle, on the same page, details need to be worked out for bonus and equity.
And so, we now wait for Barry, his attorney, and the candidate to share the news.
We can’t control the outcome. However, we can control our actions and can put the odds for success in our favor.
Thanks for reading.
Dedicated to your success,
Founder, Executive Coaching Solutions and PRSTO
p.s. I help business owners in the recruiting and staffing business achieve their goals.
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