Cayenne Consulting

How to Recruit the Right CEO to Run Your Startup

How to Recruit the Right CEO to Run Your Startup

If you are a startup founder or major investor, how do you find that CEO for your “Dream Team” to close on funding and kick-start your company? It makes logical sense to scour the job board, engage an executive recruiter, or scan the networking sites like LinkedIn for a good array of candidates, and then interview the ones with the best resumes.

If that’s as far as you go, you haven’t done the whole job. In reality, none of these alternatives is as effective as face-to-face networking. There is no substitute for building your network or using your network of trusted advisors.

From the candidate’s perspective, the ideal CEO is much more likely to sign up for your job if he knows and trusts you, versus just meeting you through the interview process. In all cases, never lose focus on finding someone who can meet the following top objectives, derived from some advice in an article by Jeff Richards to startup CEOs:

Executive recruiters are the next best option if networking doesn’t work out, but find one who has long-term relationships with many experienced candidates and business executives. I have found that most startups and small businesses can’t really afford to go this route (the average fee for a CEO is in the $40,000 ballpark).

Overall, everyone favors people they already know and trust, or someone who is known and recommended by a close advisor. Sure, some CEOs are found from resumes on job sites, and relationships built from online groups, but trust and executive chemistry are hard to deduce from a resume.

So get out there and network today, so you can be one of the lucky ones who has been nurturing a relationship with some candidates before the real need arises. Your investors will love you, your company will prosper, and the new CEO will be a hero. Everybody wins.

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