New Search Assignments Announced By New Century Dynamics

December 1, 2017: New COO Search Assignment: New Century Dynamics Executive Search Announces a new Search Assignment: COO for a Northeastern-based Casual Dining Brand. Your interest and referrals are welcome.

December 1, 2017: New Search Assignment: New Century Dynamics Executive Search Announces that it has been contracted to find Operating Partners for a Legacy Pizza Chain. Your interest and referrals are welcome.

James E. Weber, President

New Century Dynamics Executive Search

Current Assignments

1. COO- Northeast-based Casual Dining Restaurant Company – New

2. Operating Partners – Legacy Pizza Chain – New

3. Corporate R&D Chef, Atlanta-based Home Meal Replacement Company – New

4. Area Supervisor, Legacy Pizza Chain Franchisee, S. Carolina – New

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Consumer Products – Digital Company – Completed

7. Outplacement Assignment – Atlanta-based Manufacturer: Complete

Author of: Fighting Alligators, Job Search Strategy For The New Normal

770-649-7051 Tel.

770-354-2817 Cell

www.newcenturydynamics.com

JimWeber@newcenturydynamics.com

Blog: http://fightingalligators.blogspot.com/

December 1, 2017

“What we’ve got here is failure to communicate.” Strother Martin, Cool Hand Luke, 1967

Two weeks ago, Robert approached me for help with one of our engagements. He is providing field-level project management support for a forty-year-old construction company. It has been a successful engagement which has improved the productivity of the Principal. Robert has established a solid foundation of trust and has done a good job representing our brand. The client appreciates our work, but they are unclear about the next project. We are at an impasse.

There is a clear opportunity to expand this engagement and. The client wants our help, but they’re stuck. They cannot quite pull the trigger to expand the engagement. Robert has done an excellent job building the relationship, but cannot get them to the next level. Additionally, he is having difficulty managing other members of the team. He has become frustrated by communications between the other Partners and the client. Some of the discussions have bypassed Robert. This is clearly sub-optimal, creating confusion. It also violates our business model as all such communications should go through Robert, the Partner in Charge.

Robert called a meeting, which included me and the other two Partners. The objective was to get focused on the opportunity and develop a strategy to expand the engagement. Yesterday, we met together as a team.

Robert had three primary objectives for the meeting:

Discovery: understand the opportunity to expand this engagement
Local resources: who else could we bring in to help
Understanding short-term wins and how to exploit them

The first agenda item was to understand the client’s culture; their goals and aspirations; and their management style. This company wants to grow. They have built forty years of goodwill, which is the basis for their marketing strategy. However, the recession had a major impact on the company. In many respects, they are relaunching the business. One thing is clear, they need a business development program. Without help, they will find it difficult to grow.

The client has three major objectives:

Grow the business
Enhance brand equity; Strengthen their strategic relationships
Improve their productivity and operating effectiveness

Robert followed the client overview with a discussion on the communications protocol. He dispatched that issue, achieving alignment from the others. I reinforced the point, reminding them about our code of conduct.

Robert and his team came to the meeting prepared with an outline as to how each would approach the situation. I thought it somewhat amusing as all of the documents were typical corporate-style outlines with jargon unfamiliar to most entrepreneurs. I was beginning to understand that we own the communications problem. We are not speaking the client’s language, and we aren’t helping them with their decision. In other words, we need to make our case in very clear terms. I suggested that the team might better connect with the client if they translated their terminology into plain-speak.

I spent most of the meeting listening to the discussion, trying to understand everyone’s point of view. Like many smaller companies, planning is not a part of their culture. They are in a reactive mode dealing with the crisis “de jour.” They are victims of a time management. There is no doubt that we can help them, once we formulate a communications plan.

Toward the end of the meeting, I had an epiphany. I told Robert that I should write an article about the company. Telling the company’s story could serve as the foundation for their re-positioning. We could use the article to demonstrate our capabilities to our clients and prospects. I saw a clear opportunity for a win-win. This would give me an opportunity to become familiar with the client and establish a deeper rapport. Today, Robert told me that the client likes my idea and wants to move forward.

In conclusion, it might be cliche’ to say that a successful engagement depends on clear and effective communications. But, we cannot help them if we cannot make our case. We cannot make our case if we aren’t speaking the client’s language. We cannot speak their language until we know them well enough to develop empathy.

Thank you for visiting my blog.

Your feedback helps me continue to publish articles that you want to read. Your input is very important to me so please leave a comment.

Jim Weber, President

NEW CENTURY DYNAMICS EXECUTIVE SEARCH

Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

1. COO- Northeastern-based Casual Dining Restaurant Company – New

2. Controller – Atlanta-based Consumer Products – Digital Company – Completed

3. Director of Biz Dev, Atlanta-based B2B Professional Services Company: Completed

4. Payroll-Benefits Manager, Atlanta-based Retail Company: Complete

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Restaurant Company: New

7. Outplacement Assignment – Atlanta-based Manufacturer

November 1, 2017

“Time is short! Find me a Specialist!”

“Time is short! Find me a Specialist!” Those may not be the exact words, but that is most definitely the message. My clients have specific needs that must be addressed and do not have time for a generalist to learn how to attack the problem. They want people who have been there and done it. Most of my clients are small to mid-cap companies. Many are owned by Private Equity Groups, (PEGs). The rest are a mix of privately held emerging brands and more established niche players. Virtually all are working to make their brand relevant in a very dynamic and challenging business environment. Time is of the essence, so their planning horizon is short. Certainly, shorter than for larger, Fortune 500-class companies.

Most recently, my clients have been facing the following situations:

Change of ownership
PEG buy/sell transaction
Pre-IPO
Public to Private
Chapter 11
Debt Covenant Issues
Turnarounds
Start-up
Joint Ventures
Installation of Management Accountability Systems
New CEO
Major Systems Upgrades

Other searches have required experience in franchising, consumer packaged goods, and experience in family-owned businesses. Industry-specific experience is almost always required. I have even had searches requiring the candidate to move to remote, less than desirable locations. This parallels the demand for our consulting practice, but not as much.

Most people know that tenures have decreased significantly. Three to five years in position is not uncommon for C-level executives. Three years or less is common for other senior-level executives. Much of this is related to heightened levels of accountability due to intense competition. This level of senior-level turnover can affect the entire management team. Some of it, of course, is due to a change of ownership which often means a new management team, or changes for key executives. As the planning horizon shortens, the enterprise focus is on the best ways to enhance competitiveness. Companies in the small to mid-cap sector need people who can make an immediate impact. Generalists requiring a learning curve are eschewed over candidates with more specialized skills and experience. It has become an ad-hoc world.

The good news is that most of you have lived through the situations listed earlier. You have been through the break-up of Conglomerates. You have seen global competitiveness affect your employers. You have seen employee-led Leveraged Buy-outs. Without a doubt, you have seen the productivity benefits of technology. These global changes have resulted in right-sizing; down-sizing; re-engineering; and outsourcing. You have likely seen several ownership changes, IPO’s, and the public to private transactions, and probably have experience with PEGs. By now, you have a wealth of experience and skills for specific situations. Face it, with reference to Peter Drucker, we have been living in turbulent times.

The objective is re-branding oneself as a specialist, but not necessarily one specialty. If you look back on your career you will find common themes. You will notice that you have thrived in situations which have been identified in this post. Those situations can become the themes for your positioning as a Specialist. The good news is that word-processing programs allow you to have multiple resumes which you can tailor to a given specialty. It doesn’t mean that you are fabricating a career history. It means that each version of your resume puts more emphasis on the specialty (read skill-set) you wish to promote.

Time is short for small to mid-cap employers, especially for PEG Portfolio companies. They need specialists to help resolve immediate issues. Become the Specialist they seek for success in your job search or in your freelance career.!

Thank you for visiting my blog.

Your feedback helps me continue to publish articles that you want to read. Your input is very important to me so please leave a comment.

Jim Weber, Managing Partner

ITB Partners

Jim.Weber@itbpartners.com

Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

1. COO- Atlanta-based Casual Dining Restaurant Company – New

2. Controller – Atlanta-based Consumer Products – Digital Company – Completed

3. Director of Biz Dev, Atlanta-based B2B Professional Services Company: Completed

4. Payroll-Benefits Manager, Atlanta-based Retail Company: Complete

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Restaurant Company: New

7. Outplacement Assignment – Atlanta-based Manufacturer: Complete

October 21, 2017

The Ideal Way To Begin A New Assignment

Good News! We just closed another deal! But, it required a lot of effort. As it should.

This week my colleague David, and I closed a deal to help a new client plan and build a ten-store territory for a California-based franchised restaurant concept. This is a complicated assignment as it involves a family in various stages of immigration to the U.S. and inexperienced operating partners. Nevertheless, it is a fascinating opportunity and we are happy to participate. We even provided our prospects with referrals to attorneys who will help them with immigration issues, offshore financing, and finalizing the franchise agreement. During a meeting this week, David and I clarified the remaining details to begin our work, including the retainer.

The genesis of this project was late Spring when David invited me to a meeting with the prospective clients. As this was a referral from their Attorney, who we both know, it seemed like a viable investment of our time. Prior to that meeting, David explained that the prospects were interested in buying a franchise of an Oriental restaurant concept. That was the extent of his brief, based on information from the Attorney. David brought this opportunity to me because he lacks a background in restaurant franchising. He thought I could help him close the deal and to collaborate on the project. We were clear that if we closed the deal, David would be the lead consultant and I would play a supporting role. Based on our contractual agreement, David is entitled to a referral fee from me, a percentage of my earnings from the project. This point was clear before our first meeting with the client. This is how we work together.

Subsequently, we had several meetings with the client to learn the details of their plans and to establish mutual respect. As with many projects, the prospective client’s circumstances changed which affects the scope of the project. In this case, the scope has grown significantly requiring modification to our proposal. Over the Summer, the prospective clients became disenchanted with their lead opportunity and began searching for an alternative, including the acquisition of a going concern. Additionally, a brother and his family, the principal financiers for this project, decided to begin the process of immigrating to the U.S. This increased the scope of our work as we will interface with the Immigration Attorney to help her complete her work. The good news is that David and I have established our bona fides, and have developed a good rapport with the client. We scheduled to meet with them one more time to finalize our agreement and scope of work. That meeting occurred this week.

Our next step is to plan the “kick-off” meeting with the client and their attorneys. We also finalized our fee splitting arrangement. To that point, the client requires a flat fee for our services. Our proposal for the first part of the assignment, Phase I, is a flat fee, paid in advance. It also specifies the number of man-hours anticipated to complete Phase I, the planning phase. As a result, David and I have a defined hourly rate for our services, the basis for the referral fee. David will collect and escrow the engagement fee for Phase I. We agreed to track our hours and make a settlement each week. I will receive our hourly rate times my weekly hours, less 10% of that sum. Simple enough.

Before this deal closed, David and I established our working relationship and formalized our financial arrangement. This is how we work together. It is the foundation for trust and respect. People new to freelance consulting often have difficulty on joint assignments because they begin without this foundation. This is a stumbling block that creates difficulty completing the assignment. It is probably a combination of inexperience and ignorance, however, it is a major detriment to a successful working relationship.

David and I have collaborated on a number of assignments, so our process is well defined. This is something our new consultants must learn as it hasn’t been a part of their career experience.

Thank you for visiting my blog. I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox. Toward this end, put your contact information on my mailing list. Your feedback helps me continue to publish articles that you want to read. Your input is important to me so; please leave a comment.

Jim Weber, Managing Partner

ITB Partners

Jim.Weber@itbpartners.com

Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

1. COO- Atlanta-based Casual Dining Restaurant Company – New

2. Controller – Atlanta-based Consumer Products – Digital Company – Completed

3. Director of Biz Dev, Atlanta-based B2B Professional Services Company: Completed

4. Payroll-Benefits Manager, Atlanta-based Retail Company: Complete

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Restaurant Company: New

August 20, 2017

Exit Strategy

by David Shavzin

Business Exit Structure is the fourth high-level step I discuss when speaking on succession/exit planning.

My last three blogs covered the first three steps: Step 1: Exit Planning / Succession Planning is a TEAM SPORT; Step 2: Knowing Your Business Value; Step 3: Building Transferable Value. The fourth step, Business Exit Structure, comes in many flavors.

How Can I Leave Thee – Let Me Count the Ways

It is not simply a matter of handing over the business and getting a check for the full amount on your way to the islands for the rest of your life. Despite what you hear, it rarely happens that way. It may be a payout over time, the amount may be tied to future revenue targets, it may require your continued involvement for a period of time.

You may simply not be ready to accept offers that are put in front of you, requiring you to stay in the business longer than you would like.

A few options to consider for your business exit structure:

• Sell to a 3rd Party: An investor or someone looking for a business to run and grow.

• Sell to Family: Could be ideal, could be complex and personally challenging!

• Sell to Employees: Current staff knows the business, employees keep their jobs.

• New Employee/Acquirer: Bring someone in, teach the business, agree to sell at a certain date.

• Retain Ownership: Sell majority ownership, but keep an income stream over time.

• Shut the Doors: Liquidate, perhaps the only choice due to a crisis or lack of planning.

• Strategic Sale: Find a competitor who may pay more because of various cost savings.

• The Two-Step: Merge with a competitor as a first step and have a plan for a buyout over time.

• Split in Two: Don’t want to completely retire? Is there a product or service you enjoy and would want to keep?

• Die – No Really!: Want to work forever? Ok, but you still need to plan.

The Bottom Line on Business Exit Structure

There are dozens of formulas for business exit structure. Start planning early, build your advisory team and outline at least a target exit scenario so you have something to work toward. Discuss the pros and cons of each possible scenario. You can always adjust along the way, but having an initial plan will help bring you and your team together toward common goals.

A successful transition takes time. The earlier you start, the more flexibility and negotiating power you will have for your business exit structure.

********************************************************************

More Reading:

Step 1: Exit Planning / Succession Planning is a TEAM SPORT

Step 2: Knowing Your Business Value

Step 3: Building Transferable Value

********************************************************************

David Shavzin, CMC

Shavzin and Associates, Inc.

Valuation, Succession / Exit Planning, Building Value for Sale

Atlanta, Georgia

770-329-5224

Our BLOG

dshavzin@shavzinassociates.com

www.ShavzinAssociates.com

Thank you for visiting my blog. I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox. Toward this end, put your contact information on my mailing list.Your feedback helps me continue to publish articles that you want to read. Your input is important to me so; please leave a comment.

Jim Weber, President

New Century Dynamics Executive Search

Author of: Fighting Alligators: Job Search Strategy For The New Normal

JimWeber@NewCenturyDynamics.com

Assignments

1. COO- Atlanta-based Casual Dining Restaurant Company – New

2. Controller – Atlanta-based Consumer Products – Digital Company – Completed

3. Director of Biz Dev, Atlanta-based B2B Professional Services Company: Completed

4. Payroll-Benefits Manager, Atlanta-based Retail Company: Complete

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Restaurant Company: New

August 10, 2017

Exit / Succession Planning: Transferable Value and Value Drivers

Guest Blog Post by David Shavzin; Partner, ITB Partners

A laser focus on key business TRANSFERABLE Value Drivers will maximize your exit. When I speak on exit and succession planning, I talk about four high-level steps. My last two blogs covered the first two steps: Step 1: Exit Planning / Succession Planning is a TEAM SPORT and Step 2: Knowing Your Business Value and Step 4: Business Exit Options.

Step 3: Understanding TRANSFERABLE Value and Value Drivers

First, let’s discuss Transferable Value

I usually put it this way: “What would happen if you left your business for three months, headed down to an island with absolutely no way to communicate?”

If you get back and the business is humming along well, even thriving, you may well be on your way to significant transferable value.

If sales didn’t happen, if bills were not paid, if your products or services were not delivered, if 2 key employees quit and if the leaking roof completely fell in – because you were not there – you probably don’t have much transferable value.

The company’s dependence on you for success limits Transferable Value to a buyer. A buyer does not want to see a significant amount of knowledge walk out the door upon purchasing your business. If that’s the case, they will pay you a lot less than you want for it.

Perhaps the extremes of 1) or 2) above don’t apply to you, but the reality is that most businesses have a long way to go to optimize transferable value.

The big goal: make yourself irrelevant to the business. “But, but…” I hear you start to protest. Get over it! If your goal is to have the money that you need/want for yourself and your family, you need to raise your business like a child, preparing it to live life on its own…without you.

Now, the Top Ten Drivers of Transferable Value

These are not necessarily in priority order and should all be addressed as you work on growth, succession, and exit. Develop a plan that truly addresses these ten items, and start working the plan now:

• Your revenue will improve immediately.

• You will feel better and enjoy the business.

• Your value will start to grow quickly.

1. Sustainable, Recurring Revenue.

2. Written Business Processes: update them regularly, train to them regularly. Repeatable, consistent operating systems drive the customer experience and sustainable cash flow.

3. A Technology infrastructure that supports your plan and value drivers, while staying current!

4. Management Team and senior staff who are trained and motivated. Make sure that your employees are Knowledgeable and Engaged.

5. Sustainable, Competitive Advantage: Is there something that is truly different about you? If not, find it! Don’t be a commodity and don’t tell me “we have great customer service”!

6. Scalability: are you ready to take on a new customer that adds 50% to your revenue? 100%?

7. Diversified Customer Base: Is one customer more than 20% of your revenue? And how often do customers leave you?

8. Customer Experience: Do you truly know how your customers experience your products and services?

9. Financial Performance: Sustainable, Growing Cash Flow and Financial Controls.

10. Written Growth Plan

The Bottom Line on Transferable Value

The business needs to thrive – without you! Develop and work a plan that addresses the top ten value drivers. Start today, measure your progress and adjust your tactics if you get off track on your exit planning.

********************************************************************

More Reading:

Step 1: Exit Planning / Succession Planning is a TEAM SPORT

Step 2: Knowing Your Business Value

Step 4: Business Exit Options.

Transferable Business Value and What Drives It:

http://www.forbes.com/sites/johnbrown/2016/06/30/transferable-business-value-and-what-drives-it/#22c215fe7241

********************************************************************

David Shavzin, CMC

Partner, ITB Partners

Shavzin and Associates, Inc.

Valuation, Succession Planning / Exit Planning, Building Value for Sale

Atlanta, Georgia

770-329-5224

Thank you for visiting my blog. I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox. Toward this end, put your contact information on my mailing list.Your feedback helps me continue to publish articles that you want to read. Your input is important to me so; please leave a comment.

Jim Weber, President

New Century Dynamics Executive Search

Author of: Fighting Alligators: Job Search Strategy For The New Normal

JimWeber@NewCenturyDynamics.com

Assignments

1. COO- Atlanta-based Casual Dining Restaurant Company – New

2. Controller – Atlanta-based Consumer Products – Digital Company – Offer Accepted

3. Director of Biz Dev, Atlanta-based B2B Professional Services Company: Completed

4. Payroll-Benefits Manager, Atlanta-based Retail Company: Complete

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Restaurant Company: New

7. Outplacement Assignment – Atlanta-based Manufacturer: Complete

July 30, 2017

So, You Need A Marketing Budget!

Guest Blog Post By: Michael Sick, Partner, ITB Partners – San Diego

While every company is unique, a common question among business owners is “how much should I spend on marketing?” The correct answer is…it depends. There are many factors to be considered to establish the optimal spending level for marketing and advertising. Here are a few issues to consider:

Industry Norms – Most industries have a “success model” that defines line item spending ranges. Understanding this model is an important first step. Previous experience, feedback from other firms in the industry, or searches on the internet or trade publications are all good sources for this information.

According to a report in Ad Age, ad spending in the United States as a percent of GDP was 2.2%. That number is just for advertising and does not account for all marketing expenditures. Marketing services (trade shows, research, consulting, design, production, staff, etc.) can often comprise 25 to 50% of the total spending. McDonald’s (MCD) reports about 9% selling G&A with about half of that funding TV advertising. Boston Beer Company (SAM), maker of Sam Adams beer spends 25 to 30% of its revenues on advertising, promotional and selling expenses.

Spending ratios are influenced by the business model for the industry. Unlike lower margin business (consumer electronics or banking), high margin businesses (beverages and software) can afford to spend a greater amount of their revenue on advertising.

SEND ME THE FREE EXECUTIVE RESUME CHEAT SHEET!

“Fixed” Program– Some brands require a “minimum” level of marketing expenditures to be competitive. For example, a company may know that it needs to attend a given number of industry trade shows or regularly advertise in certain publications to maintain market share. In this case, their budget is driven by a “fixed” set of expenditures. As their business grows, these fixed costs will become a lower percentage of revenue.

Competitive Position – If Company “A” is in an industry where the norm is to dedicate 5% of sales to marketing, consideration needs to be given to the size of the competition. If the company does one million dollars in revenue, an advertising budget at 5% results in $50,000 of expense. If the other direct competitors have combined revenues of five million dollars and also spend 5%, they will spend five times the budget of Company “A”. To break through the noise, consideration should be given to increasing the spending percentage, focusing the budget on a specific vertical customer segment and/or limiting the geographic reach of the marketing plan.

Growth Goals – If a company has aggressive revenue goals, they should consider the additional cash flow available for marketing generated by achieving the higher revenue goal. Establishing the marketing budget as a ratio of the revenue goal is another approach. Growing quickly requires increased working capital for inventory, staffing, and accounts receivable. The prospect of increasing marketing spending can be challenging for high growth companies. Companies with plans to grow rapidly may need to spend a higher percentage of sales to achieve that goal.

Budgets in Recessions – Some companies find themselves losing customers and revenues during recessions. A natural tendency is to reduce marketing expenditures to keep them “in line”. If revenue is down 10%, should the marketing budget be reduced by 10%? Logic dictates that if you reduce your budget by 10%, your revenues should fall by the same percentage. Reducing marketing spending is likely to reduce the acquisition of new customers or jeopardize the company’s current share. Brands should resist the urge to reduce marketing budgets in a recession. Focus instead on improving the media mix, the creative or relevancy of the message. Recessions present an opportunity to gain market share, so look to reduce other expenditures first.

While marketing expenditures are recorded as expenses on the P&L, smart managers know that these expenditures are investments in the future. The “Chicken and the Egg” dilemma is confounding for some businesses. Which comes first, the revenue to support the marketing budget or the marketing budget to generate the revenue. Your CFO and CMO are likely to answer that question differently! They can probably agree, however, that revenues tomorrow are likely to be higher if you spend more on marketing and advertising today.

Setting a budget for marketing expenditures can be perplexing to business owners as the promised benefit is elusive. Every business has a slightly different situation that needs to be considered to establish a marketing budget. Prospects generally need to be exposed to a brand multiple times before they are willing to change providers or make a purchase. The Savvy marketing professional knows that it takes months, years even to nurture a prospect. [Tweet “Optimizing marketing expenditures by benchmarking and tracking metrics specific to the company’s situation is the foundation for success.”] Reviewing the approaches discussed in this article is a good first step. ITB Partners (www.itbpartners.com) has broad experience across many industries and domains, so we are capable of advising our clients on this subject and all other issues facing the enterprise.

Michael Sick, a nationally recognized, innovative management consultant specializing in strategic marketing, advertising, and business development. He spent 25 years in corporate marketing and was a Marketing Vice President for Jack In The Box, Pearle Vision, Arby’s and others. Currently, he serves as the part time Chief Marketing Officer (CMO) for some clients around the US. Learn more at: www.itbpartners.com/michael-sick.html

Thank you for visiting my blog. I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox. Toward this end, put your contact information on my mailing list.Your feedback helps me continue to publish articles that you want to read. Your input is important to me so; please leave a comment.

Jim Weber, President

New Century Dynamics Executive Search

Author of: Fighting Alligators: Job Search Strategy For The New Normal

JimWeber@NewCenturyDynamics.com

Current Assignments

1. COO- Atlanta-based Casual Dining Restaurant Company – New

2. Controller – Atlanta-based Consumer Products – Digital Company – New

3. Director of Biz Dev, Atlanta-based B2B Professional Services Company: Completed

4. Payroll-Benefits Manager, Atlanta-based Retail Company: Complete

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Restaurant Company: New

7. Outplacement Assignment – Atlanta-based Manufacturer: New

July 13, 2017

Social Media Is A Game Changer!

During my career working for major retail brands, I knew the value of advertising on radio and television. Also known as major media, we could see the results of our buys, almost in real time. However, I understood the cost and limitations of traditional media. Successful advertising was all about the message. A lot of money could be quickly wasted if the message was not relevant. Social media has changed the game, especially for small business. These tools allow smaller companies to leverage their marketing budget to compete on a larger stage. It gives them a voice they could not achieve through major media. They can dialog with customers and prospects in a cost effective way. It is akin to the difference between a rifle and a shotgun. I have found social media to be very helpful in building my business.

Executive search is an interesting business. I am hired by employers, my clients, to find people who want to become their employees. One could say that I am selling prospective employees, so I guess Job Seekers are my inventory. Often, candidates become clients and vice versa. Over time, I have become more productive as my industry knowledge and relationships have grown. These relationships serve to generate more contracts and to complete assignments faster. My business is not unlike any other service-sector business as success is all about building lasting relationships. I learned that building and managing a large network is a viable strategy to build my business.

Early on, I recognized the value of talking to my clients and prospects. I created a database of followers and invited people to sign up for my periodic updates. By today’s standards, it was fairly primitive. I used Microsoft Outlook to manage my list, and mail merge. It began as a collection of clients and prospects. In time, as I received more unsolicited resumes, I added job seekers to my outreach. Later, I added strategic partners. I would tell these folks about my new assignments as well as assignments I had completed. That activity generated new business and more followers. I was an early adopter of LinkedIn and became involved with Facebook and Twitter. I didn’t understand the full potential of those applications at first. However, now I am a believer. I even migrated my email marketing campaign to Constant Contact and Mail Chimp.

SEND ME THE FREE EXECUTIVE RESUME CHEAT SHEET!

I learned the importance of blogging to engage prospects who needed employees, and to professionals who are interested in career advancement. The focus of my blog is on career issues facing Baby Boomers, my prospective candidate base. This is an important target audience, as they represent my primary placements. When I began blogging, social media became even more important. I began using Twitter to generate interest and to direct readers to my website. I subscribed to Hootsuite to expand my message to my followers on LinkedIn, Facebook, and Google+. I believe my experience with executive search is relevant to all small businesses. It is an effective business practice to maintain contact with customers, prospects, and prospective employees.

Now that I am building a Consulting Company, I am using the same digital marketing techniques to promote this line of business. In fact, I have adopted the social media platform I built for my executive search business to present this opportunity to my network. The results of this effort have been remarkable. I use social media to speak to prospective clients and to freelancers who may be interested in joining our company.

As I have done with my business, small companies should consider for theirs. Build a community of prospective job seekers. Last week I talked about using the company website to generate interest in employment opportunities. In the same way that one would reach out and cultivate prospective customers, companies should be talking to prospective employees to build a following. Maintain their interest in your brand for future employment opportunities. Depending on the nature of the business, prospective employees could become current customers. Social Media is an excellent way to engage these people.

Thank you for visiting my blog. I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox. Toward this end, put your contact information on my mailing list.Your feedback helps me continue to publish articles that you want to read. Your input is important to me so; please leave a comment.

Jim Weber, President

New Century Dynamics Executive Search

JimWeber@NewCenturyDynamics.com

Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

1. COO- Atlanta-based Casual Dining Restaurant Company – New

2. Controller – Atlanta-based Consumer Products – Digital Company – New

3. Director of Biz Dev, Atlanta-based B2B Professional Services Company: Completed

4. Payroll-Benefits Manager, Atlanta-based Retail Company: Complete

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Restaurant Company: New

7. Outplacement Assignment – Atlanta-based Manufacturer: New

July 2, 2017

Talent Acquisition: Put Out The Welcome Sign!

A week ago Thursday, my colleague David introduced me to the principals of a small design-build company. These folks have a bit of a conundrum. Last year they hired an individual to fill a key position, however that person is not performing to their standards. He requires too much supervision and follow-up. The principals are having to cover much of his workload. They've decided to replace him and wanted to talk to me about conducting a confidential search. These folks have never hired an executive recruiter so they are curious as to my background and method of operation. They also want to know the cost of my services.

During our meeting, they spent a lot of time talking about their expectations for successful job performance and the shortfalls of the incumbent. They talked about the process they used to recruit him, including compensation and qualifications. It was clear to me that there was a major disconnect between the strategic importance of the position, the experience and skill set required, and their compensation package. Frankly, this is not uncommon for a small company.

Note: Successful companies are always recruiting talent, even if it's nothing more than networking and cataloging potential hires.

The following Monday morning, David called to advise me that the prospective client had been presented with the employee's resignation. Now they are really in a pickle. This is a key position that needs to be filled immediately. Productivity will suffer along with customer satisfaction. Their P&L is sure to be affected. They are serious about a search engagement and wanted to schedule a phone call with me to finalize an agreement.

The fact that the incumbent offered his resignation came as no surprise to me. When the relationship between employer and employee becomes strained it is mutual. Surprisingly, many employers fail to grasp this fact. I am equally confident that if I was to do an exit interview with this employee, he would say the job wasn't what he expected either.

When we had our conversation later that day, I got a clearer picture as to their thinking and how they wanted to proceed. I learned that they want to pursue a parallel path evaluating the acquisition of a W-2, regular employee, or a 1099 contractor. They also gave me a sense as to their cash flow situation and budget parameters for the search. I told them that I would outline a proposal for their review before noon the next day.

The smaller the company, the more critical turnover becomes. They typically have little excess staff. They are totally focused on work at hand and business development to the exclusion of an active recruiting program. This is understandable, if not something of an extreme case. An active recruiting program is an effective insurance program.

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Larger, more stable companies have the same issues as my perspective client. Working on an engagement last year, I quickly learned that the client underutilized the talent acquisition value of their web-site. They did not feature a “careers” tab prominently on their main menu. In fact, it was inconspicuously buried as a sub menu item. This company has had difficulty with ongoing recruiting, yet failed to put out a welcome sign for prospective team members. This was easy to correct. The follow-on step was to add a plug-in that collected resumes and job applications from interested candidates.

Minimizing the risk of turnover should be a priority for all organizations. Putting out a welcome sign to attract prospective employees is the starting point. A prominent page on the company website and on social media is ideal.

Thank you for visiting my blog. I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox. Toward this end, put your contact information on my mailing list.Your feedback helps me continue to publish articles that you want to read. Your input is important to me so; please leave a comment.

Jim Weber, President

New Century Dynamics Executive Search

JimWeber@NewCenturyDynamics.com

Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

1. COO- Atlanta-based Casual Dining Restaurant Company – New

2. Controller – Atlanta-based Consumer Products – Digital Company – New

3. Director of Biz Dev, Atlanta-based B2B Professional Services Company: Completed

4. Payroll-Benefits Manager, Atlanta-based Retail Company: Complete

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Restaurant Company: New

7. Outplacement Assignment – Atlanta-based Manufacturer: New

June 17, 2017

Exit Planning or Succession Planning is a Team Sport.

Article by David Shavzin

Exit Planning or Succession Planning is a Team Sport. When I speak on exit planning/succession planning, I talk about four high-level steps; Succession Planning; Knowing Your Business Value; Transferable Value Drivers; Exit / Succession Planning; and Business Exit Options.

Step 1: [Tweet “Exit and Succession Planning is a Team Sport”]

We have advisers and coaches in all facets of life. But in this most important area for our future, for our family and for our retirement, most business owners are pretty much just “winging it”. Oh, they may have an accountant but not much more of a team to focus on exit planning in all its facets.

That team is critical for successful succession planning.

Business owners start their companies to create their future. But they often lose sight of the key to making that future happen – building value. They get caught up in the day-to-day and don’t get to implementing the sustainable, positive change that allows them to transition on their own terms.

Consider: “…78 percent of small-business-owner clients plan to sell their businesses to fund their retirement. The proceeds are needed to fund 60 percent to 100 percent of their retirement needs. Yet, less than 30 percent of clients actually have a written succession plan…”

[I would suggest that 30% is generous, and even if accurate, that those plans are not very effective, for growth or for exit planning.]

When I speak on exit planning/succession planning/transition planning, I talk about four high-level components. The first component is to Build a Team of Advisers.

Nobody knows everything about everything. Many of my clients are in creative industries, designing, creating, building. You don’t want me in that role. But I have worked with many organizations and have a different experience and skill set than my clients. I bring ideas and experience from many industries and many client engagements. The other critical exit planning team members bring their own expertise to the table. These should include:

Business Consultant / Coach
CPA
Financial Adviser
Business Attorney
Insurance Expert
Estate Planning Attorney
Banker
Business Transaction Expert

When I work with a client, we build this team. The players may already be in place. Or, we may bring in advisers where there is a gap. Either way, we need this core team working with the owner. A business is complex. An action taken in marketing impacts finance, HR, and more. Big decisions need to take into account the effect on the whole organization and should support clear goals focused on building value.

The client receives much better advice and guidance with this approach.

This does not mean that you are going to start hiring all of these people and employing them full time as you work toward your transition…especially if you have a few years to go. But, you should use them strategically as you build your business plan/succession plan. With major decisions on growth, expenditures, hiring…engage their expertise.

The Bottom Line;
Find advisers who understand what you are all about. And, find those who understand your growth and exit planning objectives. More importantly, find advisers with whom you can feel comfortable. Make sure that they can work together and with you as a team.

David Shavzin, CMC
Shavzin & Associates, Inc.

770-329-5224
Our BLOG // LinkedIn // www.ShavzinAssociates.com

dshavzin@shavzinassociates.com

Your feedback helps me continue to publish articles that you want to read. Your input is important to me so; please leave a comment.

Jim Weber, President

New Century Dynamics Executive Search

JimWeber@NewCenturyDynamics.com

Author of: Fighting Alligators: Job Search Strategy For The New Normal

Current Assignments

1. COO- Atlanta-based Casual Dining Restaurant Company – New

2. Controller – Atlanta-based Consumer Products – Digital Company – New

3. Director of Biz Dev, Atlanta-based B2B Professional Services Company: Complete

4. Payroll-Benefits Manager, Atlanta-based Retail Company: Complete

5. Senior Accounting Manager – Atlanta-based Manufacturer. Complete

6. Controller – Atlanta-based Restaurant Company: New

7. Outplacement Assignment – Atlanta-based Manufacturer: New