Anatomy of an Executive Search – The Rainmaker
Our business is growing and I am amped about it. We have new products and tools coming out that are going to blow the lid off of strategic talent acquisition, and it’s been a long time coming. We just hit year six. We are profitable, stable, and the brand is growing. I have the team partnered up with PR resources, marketing resources, and we are getting ready for a nice direct push. Our advisors are ready for the incoming work that has us booked up though the fall, and I have several people on backup as we need it.
But direct marketing and sales is not the only way we are growing this business. We have learned that our services and technology is a strategic advantage for HR service providers that sell to the same market that we do. They obviously don’t sell strategic consulting – they position payroll services, outplacement, recruiting, legal services, technology and so on. None of them are competitors, because we just don’t have that many.
But they have plenty.
Its no secret that we offer exclusivity. Its a principal we had since I founded the business. I didn’t realize how powerful that was until HR service providers had tools that their competitors did not have – our tools. And now we have an opportunity to leverage that. We are hunting for providers of technology and services typically purchased by HR organizations to buy our services and Pando technologies, and make it part of their own service offering. In return – we don’t offer it to their competitors. Ah ha – a sales differential. Ah ha – a retention tool. Nice.
But these deals are huge, multi-faceted, multiple years, and full of intellectual property pitfalls. It’s not a $X0,000 annual license for a technology that needs to be renewed each year. I need a rainmaker. Someone who can chase down the safari sized deals, and make it work. I know that I am instrumental to the deal, but I have a business to lead too. I have to find a rainmaker that can get these deals started. It won’t take many to grow the business, but I have feeling we are going to plenty of companies say “we can sell it, but we won’t buy it.” I am not looking for channel sales 😉
It’s not going to be easy, but I know it’s straightforward. This is not my first rodeo in finding executives – and that is what this job is. An executive who has savvy, expertise, can close and has been there and done what others think they do. I want Alec Baldwin in Glengary Glenross. Coffee is for closers only.
So as I was preparing for this, I thought “why not blog about this and tell people how I am doing it?” I tell people in a closed door session what I would do, and it’s not a secret, so why not expose it this way…so here is blog #1
Who did you buy from?
First item on the agenda? Make a killer list of my contacts who probably deal with these folks. I have had a few interactions with folks directly, and of course they are on the list. I have good network of procurement officers at corporations, legal folks who navigate deals, and of course CHROs and heads of staffing. Turned that list over to my research team, and appointments are being set up. My approach is tell the story – here is how my business is going to grow, who can help me do that, and don’t point me in the direction of some wanna-be. Who did you sign a multi-year, $X00,000 to $X,000,000 technology and services deal with that you were impressed with?
Right? Did you really think I was gonna send a bunch of LinkedIn Inmails? Not for this gig. I want to hear “they were awesome – they will love this Andrew”. I had a call the other day – and got two leads that do exactly that, and I have a handful of more calls setup.
What do they need to have to make them effective?
But here is the other part of the conversation – I am asking these buyers what the rainmaker needs for them to be able to buy from them. I have worked up an assessment and list of competencies and experiences (featured in the blog after the next one) but I don’t know everything. I have recruited people like this before, but I never HIRED anyone like this before. So I am finding out what I need to add to my assessment.
What’s next? A “description” of the role that someone will actually read and respond too. But it’s not really for them…it’s for me.If I have to lead them, I need a plan and follow it. It’s starts with that initial role design.
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