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Showing posts from January, 2018

A CEO, a Million Dollars and No Staff

A CEO, a Million Dollars an No Staff
This title sounds like the beginning of a bad joke but it’s actually the beginning of a real story.
It started when I got a call from one of our company’s investors. He told me that another company he invested in, needed help recruiting talent. We get calls like this all the time but this one was different. The initial investment made in this company did not work out and the investors decided to push the reset button. The technology was amazing but the company lacked leadership. They brought in Joseph Fishman, no rookie to the tech world. Joseph has many years of experience leading technology teams from an idea to worldwide operation. However, this company, Quantum RGB, had just the support of the original scientist who developed the technology but no staff. They had Joseph - their new CEO and a million dollars. This is the situation every recruitment company dreams of. We had an opportunity not just to hire Quantum’s initial team but also to help the …

Knock, knock knocking on Talent‘s Door

Imagine you were looking to buy a house in a specific neighborhood. The problem, however, is that you have no idea how many houses are in the neighborhood, how many are for sale, the going prices and the demand for these houses. You could post an ad online and ask people to call you. But this strategy is unlikely to generate the response you are looking for. You could retain a realtor but realtors have no information which people are considering listing their house. I am giving you this analogy because the challenges in recruitment are not very different. 95% of the people that companies look to hire for critical jobs are not looking for a job. Traditional recruitment doesn’t work because it’s like roaming around the neighborhood knocking on doors, seeing if the owners are interested in selling. Recruiters typically search for talent on LinkedIn and contact people that seem like a good fit. They contact them one by one, hoping one of them will be interested in their offer. It is sad to …

Are there good candidates in the market?

Are there good candidates in the market?
A recent study published by CB Insight indicates a number of common reasons that startups fail. The
 first and second are not surprising: 42% of startups close because they found no market for their products and 29% because they ran out of money. But the most solvable reason is the third: 23% of startups fail because of an inadequate team. Obviously, these companies didn’t put the right people in place to do the job that needed doing
Entrepreneurs set up a company, develop an amazing product which the market is waiting for, raise funding and yet, one out of four startups close because the team was not suited for the tremendous challenges entrepreneurs and startups face. So even while the 3rd most common reason startups fail can be attributed to not having the right team in place, the first two reasons can also be partially attributed to having the wrong people executing those tasks. It’s sort of obvious to me. Not having the right team is arguably …