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My Conversation With A Venture Capitalist

My Conversation With A Venture Capitalist

About ten years ago, I had a chance to meet with a very successful venture capitalist to discuss my business. I had an idea that someone in the v.c. world might be a great referral partner for me, as great staff increases value in a company.

The kind gentleman who I connected and scheduled with thought that I had come to make a pitch for money, which I wasn’t interested in at the time. So, to be fair, our agendas weren’t in alignment from the beginning.

I walked into the office, and he had a speed chess timer set for 15:00 minutes. He started the timer rolling and waited for me to begin.

When I was about 3 minutes into my spiel, he stopped me and said, “Staffing professionals are all the same. They drop the same statistics and do not talk about how to solve the problem of hiring the wrong people.” With this statement, he rose. Our interaction was clearly over. I left at 6 ½ minutes.

That 6 ½ minutes changed my life.

I realized that my “pitch” was totally wrong even if my intention at the time was not about raising funds. It occurred to me that focusing on the fear around the issue of hiring did not inspire anyone, from venture capitalist to employer to my client. Everyone knows that the hiring process is broken; my repeating that fact helps no one.

Since then, I have changed my pitch completely to EXCLUDE any fear-based language, and to INCLUDE my story (the bad hiring mistake that made national news) and educational language. I talk about how I can help my potential clients find the right people so that they can grow their businesses and meet their missions.

If you are really struggling to find the right people, if you cannot seem to get the outcome that you want, change your messaging. Change the wording on your job advertisement. Describe the position differently. Talk about WHO you want, not what skills you want. In other words, transform your pitch.

And to the Venture Capitalist that I met so many years ago, thank you for the 6 ½ minutes of your time that completely change the trajectory of my business and my life. I am deeply indebted.

Do You Prepare Before You Interview A Candidate?

Do You Prepare Before You Interview A Candidate?

I met with a potential client last week who is searching for a new Director of Sales. He reports making several “mis-hires” of this particularly key position in his company. He reached out to me to develop a better recruiting and hiring program as his current method did not appear to be working.

He said to me during our discussion, “I just don’t know what I am doing wrong, Beth.”

I said to him, “How much time do you take to prepare before you interview someone?”

He looked at me blankly and then replied, “Prepare? What do you mean?”

“Let me re-phrase the question,” I said. “When you are about to interview a sales person, what preparation do you do before you interview them?”

He said, “Well, I review their resume. Then I interview them.”

“How much time does that typically take you?” I asked.

“A few minutes to review the resume, then the actual interview,” he asserted.

“How much money does a good salesperson make for you in a year?” I asked.

He responded with, “A good salesperson will generate 3-4 million in revenue.”

“So, you spend a few minutes preparing for a multi-million dollar investment?” I observed.

I was met with silence after this last statement, followed by a deep sigh of revelation from this employer.

The lesson in this story? If you want your new employee to be successful in their new position, you must prepare BEFORE you hire them to set them up with great training, realistic expectations and a definition of desired job performance. To prepare, remember to create an ideal candidate list, a solid job description, and an established, consistent interview process before you talk to anyone!

Remember these 5 P’s of business: Prior preparation prevents poor performance. You want the best employee that money can buy. Prepare for them!

Are Your Candidates Ghosting You?

Are Your Candidates Ghosting You?

I have had several business owners and hiring managers ask me about why candidates are “ghosting” them for interviews. In case you are not familiar with the term, ghosting means “the practice of ending a personal relationship with someone by suddenly, and without explanation, withdrawing from all communication.”
Apparently, candidates are ghosting potential employers with increased frequency. The job seeker applies for a job and when the company calls them for an interview, the candidate either never responds or schedules the interview and then never shows up.
Several employers that I have discussed this issue with are really upset and rightly so, especially when the candidate schedules and does not show up for interviews.
If you are encountering this issue, here are a few suggestions:
  1. Most importantly, take a big deep breath. If a candidate does not up for an interview, you now have 30 minutes to an hour to get something else done that you may not have had time to accomplish in your day.
  2. The candidate did you a huge favor by not attending the interview. No call/so show behavior would have most likely appeared in their job performance if they had made it through the hiring process and began working for you. Be grateful – they just made your job easier by not having to fire them later.
  3. I am seeing ghosting from ALL levels of candidates from entry level to senior level and in all industries. It is not just you and your organization this is happening to, so do not take it personally.
  4. Remember: Employers are the ones that started ghosting when we quit responding to ALL candidate inquiries. A simple “thanks but no thanks” is all recruits want when they apply and are not chosen. As hiring professionals, it is hard to justify being too upset now that the tables have turned when non-responsiveness to candidates has become common place.
  5. Turn the opportunity into a positive learning experience. Remember that candidates also deserve your best customer service. Return messages, calls and emails in a timely fashion. Be courteous and do what you say you are going to do when you set expectations with your potential hires.
You cannot eliminate ALL ghosting from candidates, but you can do your part to create a great place to work. That means be a great “host” and quit being a “ghost”.
Yours in success,
Beth Smith
Do You Know What Recruiting Is NOT?

Do You Know What Recruiting Is NOT?

I received a call last week from a potential client that said, “I need help recruiting. Do you do that?”

I told him that I did provide recruiting services, and then I asked him, “What makes you think that you need help recruiting?”

He said, “I can’t find the right people.”

I said, “Have you posted a job advertisement online?” Yes, he had.

I asked, “Are you getting applicants?” Yes, he was getting applicants.

“Then you do not need help recruiting,” I told him. “You need help interviewing.”

Most business leaders are confused about what recruiting does for their hiring process and what it does not do. Recruiting is asking people to apply for a job. Interviewing is the screening process to finding someone to work for you. Hiring is the yes or no question that you ask yourself before making a job offer. Recruiting is simply getting the applicants. That’s it. No more. No less.

So let us be clear on what recruiting does NOT do:

The terminology around hiring employees is jargon-based, confusing and not very helpful. Educate yourself about the entire hiring process before beginning your search.

Happy recruiting! (and interviewing and hiring!)

2019 New Year’s Resolution: Diet, Exercise, Fire Someone

2019 New Year’s Resolution: Diet, Exercise, Fire Someone

It has become an annual tradition to remind my community to let go of those on your team who are not performing.Happy New Year 2019!

As we begin each new year, many of us take the opportunity to re-group and redefine goals for our businesses. This time is often filled with renewed energy to get our lives and work in order. As a part of your new year’s goals, it might also be time to fire that one employee that is not contributing to your company’s vision.

The impact of an unengaged employee on your business can be catastrophic. Decreased productivity, lowered company morale, and miserable working environments have been common complaints by my clients as they come to the decision to relieve an employee. I say start the new year fresh!

For example, a past client had an employee who consistently gave the employer ultimatums. The threats were often“If you don’t do this, then I will quit.” Who wants to work with an individual who is constantly threatening you? The team was struggling to work with the individual, the employer was unhappy with the performance of the individual,yet the concept of firing and replacing this person seemed daunting and ill-timed. When my client finally became fed up, they did indeed fire the employee. I won’t sugar coat the transition. It was hard, uncomfortable and came at a terrible time, but my client knew that this was the right decision for the company.

In addition, the busiest day of the year for applicants looking for a job is the second Tuesday in January. Think about this: the people who are fed up with their work environments are also looking to make a change. So, if you want to start the New Year with someone who REALLY wants to work for you, now is the time.

Happy New Year!