Recruiting a Major League VP Finance for Your Aspiring Triple “A” Team
Every big company used to be a small company. Some of the biggest names in business, Apple, Amazon, Disney and Harley Davidson (among others), literally started out in their founders’ garage. And as these companies evolved from start-ups to market disrupters to market dominators, their executive teams not only became larger but much more sophisticated as well.
No doubt some of those executives were in on the ground floor and their management chops grew in lock-step with the growth of their companies. But many of those executives had developed their skills in larger, well-established companies and were recruited by the up-and-coming market disrupters.
Famously, Larry Page and Sergei Brin hired Eric Schmidt as CEO of the pre-IPO Google. Schmidt had experience with start-ups (first software engineer at Sun Microsystems) and had run large, public high-tech companies (Novell Inc.). In every sense Schmidt had “been there and done that” and was able to provide tremendous value to the organization, seizing on opportunities and avoiding pitfalls that Page and Brin may not have recognized.
There comes a point in many owner-managers’ careers where they realize that if they are going to take their company to the next level, they’re going to have to recruit more qualified, sophisticated people for their executive team.
And more often than not, the position they really need to up their game with is the VP Finance spot.
There are three major considerations when recruiting someone from a larger, more sophisticated company into your mid-size business.
- What added value will they bring to the position and your business?
- Will they fit in with your corporate culture?
- Can you afford them?