Business
One bad hire in your startup negatively affects your balance sheet and is the fuel to future boardroom conflict. Often, we entrepreneurs feel the pressure to fill our roles at the expense of elevating our people's performance. This disintegrates the company values and results in the exit of your strongest players. Today is about hiring “gravitators” and avoiding the “disintegrators” that will surely be the subject of boardroom conflict. Our guest today: Rod Robertson, Founder & Managing Partner of Briggs Capital. Rod is an international entrepreneur and co-author of the book The Human Vector. He has conducted business in over 15 countries while focusing on developing small-to-medium-sized businesses and taking them to market worldwide. Robertson’s career in transaction experience and entrepreneurship includes guest lecturing around the globe at institutions such as Harvard Business School and other top-flight MBA schools as well as business forums and news outlets worldwide. He sits on numerous boards, guiding firms to streamline operations and make businesses more profitable before selling. Today we discuss: The difference between hiring a gravitator vs a disintegrator Why this is important to your board of directors How to gain evidence to support hiring the right person - a Gravitator Challenge today? Companies have no room for error in hiring Hiring folks that can contribute to increased value of the firm Boards are looking at the income statements & balance sheet Are they cohesive with growth strategies? How to assess quickly to unload non performing employees Why is this important to the company In 2021 the PPP bailouts have run their course - no margin for error Your hires must stick - no “numbers game” in hiring The co culture equal to individual go Rick’s Nuggets A speedy hire often results in a miss hire How do we fix this issue in your company? Bring on more outside Board of Advisors (not traditional Boards) to analyze and share the responsibility of hiring and layoffs Human Vector Systematic approach to maximizing employee performance GRAVITORS can change employees “angle” to the” Vector” INTEGRATOR -manager who accelerates integration of employees FUNNEL OF VECTORS acceptable deviation of employees from company values DISINTEGRATORS a disruptive employee Attributes as they relate to the goals of the company Management hiring and termination based more then ever on cash flow Quantitative analysis trumps culture for now $1.9B stimulus will prop up economy for six months then economic slide predicted for balance of 2021 thru 2022 Small to medium size businesses must pivot quicker then ever Using outside Board members or advisors to make quantitative decisions should be utilized Rick’s Nuggets Behavioral Interview Tie interview questions to your company values *Knockout: Tell me about your most difficult Customer interaction (give wow) What were the circumstances that led to the difficulty? Break down the steps you took to resolve the problem What was the root of the customer issue? What solutions did you come up with? How were you able to calm them down? How were you able to deliver beyond their expectations? How did the interaction end? Why was their view important to you? Key Takeaways: During these difficult times, systematic hiring and termination most adhere to a firm’s financial Outside Advisory input can bring clarity to growth and/or scaling back strategies It’s a perfect time to shake up your roster! Guest Links: LinkedIn: https://www.linkedin.com/in/roderickrobertson/ Website:www.briggscapital.com This show is proudly sponsored by Criteria Crop: https://www.criteriacorp.com/