Executive placement

Business Value Growth

Succession Planning and Executive Search

Warren J. Rutherford

The Executive Suite

1 year ago

Succession planning considerations enter into discussions that I have with business owners when discussing their interest in conducting an executive search to find a CEO to run their company. For instance: As a business owner are you worn down and tired from all the extra effort and attention that you have had to spend on your business over the last few years? Have you wondered if there are viable alternatives to growing your business when sometimes you just want to kick back and relax? Knowing what you know now about the level of effort and energy to start and grow a business, do you think it is time for a change, perhaps an exit? These are questions I often encounter when talking with business owners who have founded their business or who have taken over their business from a parent – and know that there is no one in their business who is capable of taking over the business when these current owners decide to move on. It certainly creates a quandary for them. It’s especially challenging for these owners when they think it’s time to sell their business and realize that the business value is not what they expected to yield after many years of hard work and effort. In my experience it’s helpful for owner(s) to take a step back and review the options they have when considering a business exit, because hiring a CEO to run their company is only one option. Business Succession Owners who go through a business succession discussion benefit from a review of the options as these will also consider their personal outcome goals, their company’s outcome goals, and what I call legacy goals. Oftentimes I find owners have not considered their personal goals and it leaves them at a disadvantage when seeking to objectively evaluate their company and legacy goals. Think about it. If you are a business owner you most likely spend the majority of your time working on or in your business, with an occasional look up to reflect on what you might do once you exit the business. But when it comes time to exit the business – you have most likely have not developed your personal exit plan. Not having a personal transition plan will impact the choices owners make when deciding to exit their business. Succession Alternatives Effective evaluation of succession alternatives does require careful planning. If, as an owner, you have not used business planning tools previously it may be challenging to follow a planning process, however, the benefits to a carefully thought-out succession planning process can substantially improve the succession choice to be made. Succession alternatives range from business sale to an outside buyer, selling to your employees, or, my favorite, retaining ownership of your company and hiring a CEO to run the company so that you and the CEO can develop a growth strategy to improve the value of the company prior to its eventual sale. There are several ways in which the succession planning discussion can occur. It’s important however, that the discussion occur. My purposeful approach to conducting an executive search for the CEO of closely held or family-owned company’s benefits from a succession planning discussion with owners because it helps them to engage more proactively in the

Dec 19, 2022 3 min read Greater Boston

Business Value Transfer

Omg! The Best Executive Search Firm In Boston Ever!

Warren J. Rutherford

The Executive Suite

2 years ago

There are quite a few executive search firms in the Boston area and other regions as well. But, you wonder, which is the best? And, how do you know it is the best? What determines that? I’ve had these questions presented to me regularly, after all, I run an executive search firm. As a matter of fact, someone asked me that yesterday. Let’s start with some assumptions. You need to hire a C-Level executive, perhaps a CEO for a family-owned or closely held business where there is no successor in the company. Sounds simple. Some firms may offer this service. It can include – developing a position announcement, development a confidential company and position profile, developing a psychometric assessment specifically for the position, and then presenting candidates with a series of psychometric assessments, conducting extensive and detailed preliminary interviews, conducting thorough reference and background investigations, aiding clients in the interview and candidate evaluation process, and negotiating terms and conditions of employment, to name more than a few. But what if you add in a succession-based planning process for the owners? Is this different from the few executive search firms in Boston that you are familiar with? This can include – Working with ownership and the executive team to determine the functional and dysfunctional parts of the business, Identifying what needs to happen to improve those dysfunctional parts, Identifying ways to improve those functional elements along with the dysfunctional elements to develop an actionable growth strategy that the executive team and that new CEO can implement over time. You need a vision for the C-Level executive to pursue. Yes, if you have developed a succession-based planning process with the owners and their executive team, chances are you have developed a vision (as well as a mission, goals, and actionable strategies). Taken together the vision will enable that CEO to implement the succession and growth strategy for the owner. The strategy and plan will look out at least five to seven years and include revenue and valuation targets. You want an executive search firm that is local, yet regional, perhaps national, and international. It’s a good strategy to look retain an executive search firm that has the ability to conduct and executive search to find the best candidate for a client company. Most candidates are employed, yet they may not be within the immediate geographic reach of the client company. You want personal service. Is that too much to ask? If you are researching executive search firms in Boston – or any region for that matter, find out what level of attention your executive search process will be provided. Is there a executive search consultant who will provide your firm continued personal and professional attention? Will the personal service want to understand your company’s culture, environment, workforce, customers, vendors, community – the legacy that you want your company to embrace? You want guarantees on the search results. This sounds simple, but oftentimes it is overlooked. Simply stated – is there a guarantee if either the selected candidate or the company decides the new CEO is not working out? Ask what that guarantee is, and how long it will last, and under what conditions? Simply put – The Executive Suite provides up to a one-year guarantee. I trust these simple, yet effective comments help in finding an

Nov 29, 2022 3 min read Greater Boston

Business Value Growth

Day One – A crucial part of employee retention

Maria C Forbes

FIREPOWER Business Catalyst, LLC.

2 years ago

Being new at anything is difficult for a period. New team members try to get their bearings and begin to feel like a resident member of the company. This month a newcomer provided a critical reminder of the one factor which significantly influences the first week on the job. Why is this important to leaders? Employers have to consider a new internal reset for retaining people. Navigating a new set of employee viewpoints for a preferred work relationship is not sufficient if only in conversation. Your chances of retaining people in today’s fight for talent increases when you connect them on day one of your new relationship. “Day one” provokes a blend of emotions. There is anticipation of interactions with a new team, even though you may have met some of them during the selection process. A planned and structured agenda for key introductions and process training that includes specific outcomes will increase the engagement of new team members. There are feelings of excitement. New members will set out to make a personal contribution to organizational goals. On the first day at a new job, most newcomers expect a positive experience. They will consider how their new peers work individually and collaboratively as they navigate their first week. They look forward to an agenda for learning the details of their new role. Margaret is a strategic communications professional. She has been looking forward to starting a new position at a top firm in her industry. She felt the usual emotions going into “day one” but her experience caused her to take pause. At the end of day one, Margaret wondered how this well-established corporate team missed an important set up of their new relationship. Instead of a planned introduction to her team and her role, she was left to make introductions around the office and determine how to fill her time for an entire week before initial training was scheduled. What tasks was she to prioritize? Where was her team on day one? Would she be part of the business culture? What would help her to acclimate emotionally and professionally? Definition of critical onboarding steps. While many companies include some onboarding steps, the definition of this critical process varies dramatically. For small businesses, onboarding is a primary strategy for attracting and keeping top performers. This is one thing that will make a positive first impression and ensure that your initial working relationship phase will have a strong start. Onboarding lays the groundwork for a lasting professional affiliation. Making a new team member want to stay is difficult when an onboarding plan is missing. Three essential factors will ensure your new team member will decide to stay a while. Have an onboarding plan ready on day one. Do not skip this step; take the time to generate a plan that includes priorities for the initial 90-day period. You don’t have to iron out all the details, and the agenda can be edited in advance of each 30-day period. Your onboarding plan should include an illustration of role priorities for the initial period and for the long-term evolution of the role. Commit to giving ample thought to the experience of the early working phase as a set up for a long-term association. Expectations and priorities must include who and what. Depending on the level of your new team member, you want to give him or her the right framework for a productive first day, first week. Day one should include who they will have a regular interface with, and what they will achieve together. Your new team member will have the insight and direction to determine their priorities. A timeline is critical. Everyone wants to know what is expected of their time and energy in a new role. Priorities and expectations are in focus, now you should coordinate these within two to three identifiable periods of time. With an illustration of priorities and timelines, a new team member can easily determine how to spend time and energy during each specified period. Now the execution of the role during the initial period will occur with optimum productivity and performance can be reviewed at the completion of each specified period. A first impression is made at the time of candidate selection. A mutual agreement to work together is confirmed at hiring, and a new team member’s transition into a lasting affiliation starts on day one. Do not skip this step, your new team member will thank you!

Jun 20, 2022 4 min read Atlanta

Business Value Transfer

Succession Planning and Executive Search

Warren J. Rutherford

The Executive Suite

2 years ago

Feb 2, 2022 3 min read Greater Boston

Business Value Growth

Transitions and Executive Search

Warren J. Rutherford

The Executive Suite

2 years ago

Conducting an executive search for a CEO for a closely held or family-owned company where the owner(s) don’t have a successor-candidate already working for the company can contribute to challenges for any search consultant no matter how qualified.transition One of the principal challenges involves a discussion on owner(s) transitions. It’s understandable for an owner to question the need for a CEO, especially when that owner has been running their company for more than 30 years. Yes, for the most part I’m referring to baby boomer business owners, who have been at the helm and are now pondering how to get out – sell or not to sell, merge or not to merge, liquidate or not, or perhaps, just perhaps, stick around and hire a CEO to help to grow company value and legacy. In my owner transition and executive search work it is difficult to separate the two factors – how can an owner prepare him/herself for the hiring of a CEO when they have left unanswered how they are going to transition out of the long-held executive role, and, eventually, sell the company. Transition Thoughts It may sound easy but it’s not. Consider that the owner has worked in their company (oftentimes as a founder) for many years, is still privately held, has a stable customer, employee and vendor base, and enjoys the support of the local community. But and this is a significant but – owner age, industry competition, technology changes, and, most recently, the impacts of the COVID pandemic on employee recruitment, competitive pay, and increases in vendor costs are stressing both the owner and the company’s position. Consider also that there are at least ten different ways for an owner to transition out of their company. Without even commenting on all ten (although four are referenced above), the owner must deal with emotional and behavioral considerations (some would call it baggage) that have accumulated over the years, which they now must address and resolve prior to deciding a transitional course of action. Transition Steps When you help an owner decide what to do with their business, then create and implement a successful business transition strategy you can then help the owner move toward an effective executive search strategy and process. Here are several of the steps that are involved a transitional discussion. If you think the process can be performed overnight, think again – the company is oftentimes the only business that the owner has worked in. Change takes time. Emotional confidence – perhaps underappreciated but helping the owner gain emotion confidence in deciding that, in my work, engaging in an executive search to retain a CEO is a huge step and involves considerable discussion. Explore strategies and criteria for preparing their company for successful transition – as noted above, there are at least ten options available to an owner to transition out of their company. I’d be doing a disservice to my clients if I did not help them explore the viability of each. Thinking about it – I’d rather have a successful search process where the owner is fully committed to the search because they understand their” WHY”. Explore and apply strategies for choosing the best new owner – as part of the ten options reviews, I also focus on choosing that best new owner, in part because the hiring of a CEO most likely includes providing an equity stake to the CEO and an option to purchase the company at some future date. Design both their personal and family goals, and their goals for their company – oftentimes overlooked, these should be an integral part of the discussion, as the owner and family relationships to the company are often so intertwined that it can be difficult separate them out without a step-by-step elaboration of the personal, family, and company goals. Develop step-by-step action plans – assuming the owner does want to pursue an executive search process it is important to set up an actionable plan for the search – for instance developing an overview of the company’s strengths, opportunities, aspirations, and results desired. Finally, but certainly not the least working with the owner to develop a plan to work effectively work with various types of professional advisors to help them plan for and achieve their transitional and executive search goals. While I have the latter covered, I know I can’t help an owner with financial planning, accounting, business valuation, business sale, and other advisory services. Summary I realize I’ve discussed a lot in a short post but wanted to illustrate that in a closely held or family-owned business where there are no successors in place it is important for the owner to develop a transitional strategy prior to deciding to engage in an executive search. That’s the sum and substance of my executive search services. Perhaps a bit unorthodox, but I know it is necessary – and it works.

Dec 8, 2021 4 min read Greater Boston

What's Trending

Business Value Growth

A Time To Remember You Have A Seat At The Table

Maria C Forbes

FIREPOWER Business Catalyst, LLC.

1 week ago

As small business owners and leaders, we’re no strangers to the daily grind of comparison and competition. It’s easy to look at the success of others and wonder if we measure up. But this Thanksgiving, we’re taking a page out of Heather Holleman’s novel1, “Seated with Christ: Living Freely in a Culture of Comparison,” and the transformative words of Ephesians 2:6: “God raised us up with Christ and seated us with Him in the heavenly places in Christ Jesus.” In the hustle to prove our worth and carve out a place in the market, realizing that your seat at the table is already secured is revolutionary. This isn’t about your turnover, your team size, or the number of followers on social media. It’s about recognizing the value you bring to the table just by being you, backed by the firepower of your determination, creativity, and the unique vision only you possess for your business. The Overlooked Seats Comparison is the thief of joy in business, and it’s also the thief of innovation and growth. The environment of inauthentic seats fuels comparison, the moment you and your team stop eyeing the lane beside you is the moment you turbocharge your path forward. Your business isn’t like anyone else’s—for a reason. The individual strengths and talents within your team are your biggest asset, waiting to be unleashed. Recognize and harness the power of these unique capabilities to drive people-powered change. A Secure Seat on The Team Your team—the one you’ve built, trained, and grown—holds untapped potential. Just as we are seated with Christ in a place of honor and security, so too should our team members feel valued and vital to our mission. This Thanksgiving, let’s take a moment to express genuine gratitude for the diverse skill set each member brings to the table. When people feel valued, they’re more engaged, productive, and innovative. And that’s how a small business not only survives but thrives. The Power of People-Powered Change FIREPOWER Teams is founded on the belief that the power of a small business lies in its people. “Fuel your people power” isn’t just a motto; it’s a mission statement and a call to action. Reflect on how you can empower each team member to contribute their best this holiday season, fully aware that their seat at the table is as non-negotiable as yours. Thanksgiving is a time of gratitude, reflection, and community. As business owners, it’s a prime opportunity to reassess what we’re thankful for and how we express that gratitude through our actions and leadership. Let’s enter this season with a renewed commitment to value ourselves, our team, and all our unique contributions. Let’s reject the ceaseless comparison and instead focus on fostering an environment where everyone feels seated at the table—secure, valued, and ready to make a difference. The entrepreneurship journey is rarely easy, but with a team that genuinely feels like their efforts matter, there’s untold strength to be garnered. Your business, team, and vision have a secured seat at the table. Let’s give thanks for that incredible opportunity and the journey ahead. Conclusion Remember, the most sustainable growth comes from within. Thanksgiving is a time to rekindle our appreciation for the value we each bring to the table, reminding us that when we work together, there’s nothing we can’t achieve.

Nov 22, 2024 3 min read Atlanta

Business Value Growth

Exiting a “Time and Place” Business

John F Dini

The Exit Planning Coach

3 weeks ago

“The purpose of middlemen in the marketplace is to provide time and place utility.” I remember the light bulb going on in Economics 101 when my professor said that. Suddenly, I understood the concept of added value. Someone had to get the product to the customer. “After all,” the professor continued, “The footwear manufacturer in Massachusetts can’t sell a pair of shoes directly to someone in California. They can’t manufacture and handle thousands of customers. It would be a nightmare, and completely unprofitable.” The fact that Massachusetts was still known for shoe manufacturing gives you some idea of how long ago this took place. So long ago, in fact, that Zappos wasn’t even a word yet. The independent shoe retailer gave way to the department stores. In turn their shoe business was decimated by the specialty chain retailers. In fact, most shoe departments in Macy’s and others are actually chain operations within the store. Shoe sales moved into sporting goods stores and discounters. While the industry shifted multiple times, they all still provided time and place utility. Then came the Internet. Now the manufacturer can sell directly to consumers. In fact, they can eliminate several layers of middlemen, along with the mark-ups. Lately my area has been swamped with billboards saying “Mattress Dealers are Greedy. TN.com.” TN.com turns out to be My friends at Digital Pro has survived (and thrives) by their differentiation and service. The large, bright showroom is full of computers where they can show customers the effect of adjusting color balance or editing. They can print your lifetime memories on almost anything, from a key chain to a large metal panel. They can still give you prints made with permanent liquid ink, not the water soluble powder used by most printers. In addition, they can do all of this online because they’ve invested in the technology necessary to keep up with the “convenience-based” competitors. As the cost of digital printers fell, professional photographers invested in their own machines. Digital Pro Lab has replaced their business with consumers who want to discuss their special moments, choose how to preserve them, and hold the results in their hands before they pay. In an industry where the number of time and place based outlets has fallen by over 90% in the last decade, Digital Pro Lab has beaten the big boys with product differentiation and service. When the time comes for planning an exit, they will have options. This article was originally published by John F. Dini, CBEC, CExP, CEPA on

Nov 13, 2024 4 min read San Antonio

Business Value Growth

Starbucks Case Calls into Question NLRB’s Authority to Issue Consequential Damages

Robert G. Brody

Brody and Associates, LLC

3 weeks ago

On September 18, 2024, a panel of three Third US Circuit Court of Appeals judges heard oral argument from the National Labor Relations Board (NLRB) and Starbucks on the matter of consequential damages. At stake is the NLRB’s power to award damages for direct and foreseeable pecuniary harms that go beyond lost pay and benefits. The award of such things as credit card late payment costs and uninsured medical costs, fees for not timely paying other expenses, etc. are at issue. If such awards are within the NLRB’s authority, the damage awards in NLRB wrongful discharge cases could dramatically rise. Here is how we got to this point. In 2023, the NLRB ordered Starbucks to pay consequential damages in a case of the wrongful termination of two pro-union employees. Damages included “direct or foreseeable pecuniary harms incurred as a result of [the employees’ wrongful discharges.]” This case is one of many cases Starbucks faces alleging wrongful discharge of union supporters. If it losses, the monetary cost could be significant. By filing this appeal, Starbucks’s joins companies such as Amazon, SpaceX, and Trader Joe’s in challenging the NLRB’s constitutional authority to exert such enforcement powers. Traditionally, the Board would order reinstatement, backpay and lost benefits in a case of wrongful termination, however this was expanded in 2022. A Board decision in Thryv, Inc., 372 NLRB No. 22 (2021), held employees who are wrongfully terminated should also receive compensation for other pecuniary losses stemming from the termination. Examples include credit card cost, out of pocket medical expenses, mortgages related fees, etc. Such damages can quickly add up. In this latest Starbucks case, the Third Circuit considered Thryv but also the US Supreme Court’s June ruling in Jarkesy v. U.S. Securities and Exchange Commission and its applicability to the NLRB. In Jarkesy, the Supreme Court found it was unconstitutional for the SEC to impose civil penalties in administrative cases. Such awards need to be awarded in a court. The Third Circuit must decide whether the expanded remedies sought by the NLRB would be considered “legal remedies” typically imposed by the courts as in Jarkesy or “equitable remedies” typically imposed by administrative agencies. Such administrative remedies are intended to benefit the worker rather than unfairly punish employers. The NLRB argued they have the authority to impose the remedies regardless of their status as legal or equitable. Not surprisingly, Starbucks argued allowing the NLRB to issue damages beyond backpay would violate their constitutional right to a jury trial and therefore was unconstitutional. The outcome is pending and regardless, it may well be appealed to the Supreme Court where the authority of various agencies is being curtailed. We will keep you informed. Brody and Associates regularly advises management on complying with the latest local, state and federal employment laws. If we can be of assistance in this area, please contact us at info@brodyandassociates.com or 203.454.0560

Nov 8, 2024 2 min read Tri-State

Business Value Growth

Workplace Violence Prevention Mandated for New York Retail Employees

Robert G. Brody

Brody and Associates, LLC

1 month ago

Passed in June 2024 and signed into law by New York Governor Kathy Hochul on September 5, the Retail Worker Safety Act is set to take effect March 4, 2025. The law mandates protections for retail employees including panic buttons, workplace violence prevention policies, and training. Who is covered? The law explains: Covered employers: any person, entity, business, corporation, partnership, limited liability company, or an association employing at least ten retail employees. Retail employees: employees working at a retail store for an employer. Retail Store: a store that sells consumer commodities at retail and which is not primarily engaged in the sale of food for consumption on the premises. The state, any political subdivision of the state, a public authority, or any other government agency is not covered by the law. Key Requirements The Act’s key requirements are the installation of panic buttons, implementation of workplace violence prevention policies, and training. The panic button requirement does not take effect until January 1, 2027, while the other requirements are effective March 2025. Panic Button Employers with more than 500 retail employees nationwide must provide employees with access to panic buttons across the workplace. Employers may opt for a physical button or mobile phone-based buttons. The requirements for each are slightly different. If the employer chooses to use a physical panic button it must contact the local 911 public safety answering point when pressed. Pressing the button must provide the answering point with the employee’s location and dispatch law enforcement. The button must be accessible or wearable. The mobile phone-based approach requires the button to be installed on employer provided equipment and is wearable. The mobile button may not track employee locations unless pressed. Workplace Violence Prevention Policy Employers must adopt a written workplace violence prevention policy to be provided to employees upon hire and annually. The NY Department of Labor (NYDOL) will draft a model plan which will be evaluated every four years from 2027 onwards. Employers may adopt the NYDOL policy or create their own equivalent policy. The policy must: List factors or situations in the workplace which may increase the employees’ risk of workplace violence. Examples given include working late at night or early morning hours; exchanging money with the public; working alone or in small numbers; and uncontrolled access to the workplace. List methods of preventing workplace violence, including but not limited to establishing and implementing a reporting system. Provide information on federal and state laws regarding violence towards retail workers and remedies available for victims of workplace violence. Explicitly state that it is unlawful to retaliate against employees who report workplace violence or factors which place employees at risk of workplace violence. Workplace Violence Prevention Training Employers must provide training upon hire and annually. The NYDOL will provide interactive training which will also be evaluated every four years starting in 2027. Again, employers may opt to use the state provided training or provide their own equivalent. The training must: Include information on the Retail Worker Safety Act; Examples of steps employees can take to protect themselves; De-escalation strategies; Active Shooter drills; Emergency procedures; Instructions on how to use security alarms, panic buttons, and any other emergency devices; and A site-specific list of emergency exits and meeting places to be used in emergencies. Takeaways New York State retail employers should look at the state provided training and policies to adopt as their own or to ensure their own materials are compliant. For employers outside of New York it is important to keep your eyes peeled for creation of similar laws in your own state. Brody and Associates regularly advises management on complying with the latest local, state and federal employment laws. If we can be of assistance in this area, please contact us at info@brodyandassociates.com or 203.454.0560

Nov 1, 2024 3 min read Tri-State

Practice Tips

The Advisory Paradox: How You Can Help Consulting Clients Confront Problems When They Would Rather Look Away

Tom Bixby

EvaluSys LLC

1 month ago

Many consultants/advisors/coaches are serving business owners who resist the notion there might be significant, unrecognized issues in their company, or who believe they needn’t be concerned about issues they don’t know about. Call it the Ostrich-Head-In-The-Sand Syndrome. As a consequence, consultants feel powerless to get their clients to take action in their own best interest. From an exit planning perspective, being fully prepared for a future exit is one of those critical issues business owners may be inclined to ignore until it is too late. On Thursday, December 5th, join EvaluSys CEO Tom Bixby and XPX Charlotte founder in a discussion with Larry Gard, Ph.D., XPX Chicago member, executive coach, former longtime clinical psychologist who will help attendees get inside the head of business owners to: Feel confident in your ability to reach clients who resist identifying and confronting issues in their business. Generate client curiosity in your approach and interest in your recommendations. Have a significant impact on your clients’ success in ways they hadn’t anticipated. This program is scheduled for 45 minutes, to include significant opportunity for Q&A with Dr. Gard. Don’t miss this important program helping you grow your power to create value for your advisory clients!

Oct 31, 2024 1 min read Charlotte

Business Value Transfer

Just Add Capital

Felipe S. Suarez

Financially Sound Solutions

1 month ago

If you’re looking to attract an investor or an acquirer one day, expect them to dig into your sales and marketing process. If you’re a company that sells to other businesses, an investor will want to know where you get your leads from and how much each costs you to generate. They’ll want to know what technology you use to support your sales team. They’ll want to understand how your sales reps get meetings and how many appointments a good rep has each week. They’ll want to know the close rate of a high performer and how it compares to an average performer. The investor’s questions aim to gauge the scalability of your sales model under significantly higher investment rather than to assess your past performance. Acquirers love stumbling over a business where capital is the primary constraint to growth. They fall over themselves for a company with an efficient sales engine that needs more fuel (i.e., money). Most investors have lots of capital but struggle to find businesses with a sales system that won’t collapse under the weight of more money. How Gregg Romanzo Built a Sales System In 2004, Gregg Romanzo started an old-school freight brokering business. Most freight brokers are nothing more than a handful of people arranging shipments in return for razor-thin margins, but Romanzo realized his sales model had the potential to grow into something much bigger. Romanzo’s model involved hiring high-potential people with a relatively modest base salary of between $40,000 and $60,000 per year and teaching them the business from scratch. He armed them with a computer and access to the best scheduling software and tied their variable compensation to the gross margin of the jobs they booked. Romanzo knew if he could get a rep to clear $100,000 per year in total compensation, he could keep them for the long run. Romanzo took his very best talent—the top one or two percent—and built a team around them so they could earn even more. This cohort of salespeople could clear three, four, or even five hundred thousand dollars in an exceptional year. Since Romanzo paid a relatively low base salary and his people didn’t need much equipment, he could hire many salespeople. By the time he sold his company, he had 200 employees, 190 of whom were salespeople. That’s 95% of his headcount dedicated to sales. How does that compare to your company? If you have a winning formula you think would hold up if you doubled or quadrupled your sales team, consider monetizing the sales model you’ve created. Either hire more reps or show a deep-pocketed investor or acquirer how durable your sales model is and how all you need is their capital to grow it.

Executive placement

Succession Planning and Executive Search

Omg! The Best Executive Search Firm In Boston Ever!

Day One – A crucial part of employee retention

Succession Planning and Executive Search

Transitions and Executive Search

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A Time To Remember You Have A Seat At The Table

Exiting a “Time and Place” Business

Starbucks Case Calls into Question NLRB’s Authority to Issue Consequential Damages

Workplace Violence Prevention Mandated for New York Retail Employees

The Advisory Paradox: How You Can Help Consulting Clients Confront Problems When They Would Rather Look Away

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