According to Wall Street Journal article, “U.S. Companies Looking for More Experience in Their Finance Chiefs,” the current average age of CFOs at Fortune 500 and S&P 500 companies is almost 53 years old – a number that’s been increasing each year – proving experience wins out in the current age of technological disruption.
Landing your first, or second or third CEO role can be accelerated through understanding how to best market yourself in a way that most fluidly communicates your value points as well as gaining clarity on what the market best responds to. Here are a few quick tips to help you in your next executive transition:
If you are targeting growing industries as part of your next executive transition, you may be interested in this article on the booming wellness industry that includes spa economy, workplace wellness, fitness, apparel, organics, and beauty products.
These 10 market trends turned wellness into a $4.2 trillion global industry
If you want help tapping into this multi-trillion-dollar market – check out my hidden job market brief for executives.
This is a MUST READ for all C-level leaders. It resonated with me deeply, because I learned a long time ago that the foundation of all interviews is the opportunity to engender trust in a small window of time. Read the full article, “Why Jonathan Thurston is One of the Most Trusted Leaders,” by personal branding coach, Jane Anderson.
Most of my CEO and other CxO clients who initially come to me for executive resumes tell me that this is the first time they have ever had to look or plan for a new position and that most of their CEO job opportunities have come to them through inside channels. Others state that their relationships with recruiters have helped them to vet new executive CEO job opportunities.
If you have also had a run of opportunities come to you—that’s great! But there seems to come a point in every executive’s career when they are called to ‘make rain’ and find opportunities that are a good fit for them. Another consideration regarding market leverage is that if you know how to do it, you don’t have to rely on opportunities that are coming to you at any given time, and you can actually set up and easily manage your own transition.
Here are a few resources and strategies my CEO clients use to get full market leverage in their executive job searches:
Yes, you can use ExecuNet or Bluesteps as paid executive job board options to find Chief Executive Officer job opportunities. You can also just set up email alerts for CEO jobs using an aggregator like indeed.com. LinkedIn also has a feature for setting up job alerts. The benefit here is that you set it up once—and the positions come to you daily or weekly. You can quickly scan them for relevancy in just a few minutes per week. Be sure not to spend too much time on this one; according to the Bureau of Labor Statistics, positions paying more than 300K are only represented online at 10% of the actual jobs available, so you don’t want to spend too much time here. You can also use these CEO jobs that are delivered to you as a market indicator. Look for running patterns and themes, and note who is growing and hiring in your niche, and what recruiters are posting multiple positions that match your interest.
Identify recruiters who say they place CEOs and have Chief Executive Officer Job Postings. You can also research those executive recruiters who work with CEOs that work in your industry too. They often have contracts to fill positions, the majority of which will never be advertised.
If you are making a radical change of industries, a recruiter who places CEOs may not be the best source for you as they will be looking for “a match.” Having said that, there are generalist recruiters who have CEO job searches across multiple industries.
You can do an internet search for CEO recruiters+your industry. You can also look up CEO recruiters on LinkedIn. I offer a recruiter distribution here, and an in-depth course on how to work with executive recruiters here.
Direct Company Contact
The secret to finding CEO jobs by going directly to companies of interest to you is in the numbers. Contacting a company directly (knowing full well they probably have multiple open positions that are not advertised) is a great way to demonstrate leadership and take control of your job search. Are you interested in looking at the higher-education market in your state or the top organic food manufacturers in the U.S.? Or maybe the fastest-growing healthcare-oriented businesses in your city? All of these “lists” are accessible to you and allow you to easily tap right into your market of focus!
Here are a few ways you can connect with them to get interviews:
Send a letter to the CEO or Chairman at larger companies
They might need you as a GM, COO, or Division President. If you’re the CEO of a small company, perhaps you would fit in as the EVP, COO, or Division President of a larger company.
Send a letter to the CEO at smaller companies
The incumbent CEO might be looking for a successor because of retirement, business expansion, or just because he or she wants to move on and open a new company. Or, the existing CEO may want to step back, step down, or step up as the Chairman. The reasons don’t matter—what matters is that they need help more often than you’d expect.
Send a letter to the Money Brokers
Reach out to the VCs, Investment Bankers, Holding Companies, and others who invest in companies. There are more than 20,000 in the database, and they might need you for a portfolio company. If you have money to invest and/or mention that you’re looking for a stake in the outcome, this can significantly increase your odds.
An accident of timing
Sending a value proposition letter to those decision makers who are most likely to hire you is an accident of timing with predictable and statistical odds (85% in 90 days). And, it’s the only way to reach thousands of decision makers at the same time … when you’re available.
You can learn much more about the lucrative hidden job market and how to tap into it, here.
Think of LinkedIn as a CEO job database. If you connect with companies in industries and geographical areas that are of potential interest to you, you will grow your network on LinkedIn—and not only can you then tap into it as a talent source, but you will be in the first, second, or third degree network of MANY more companies that will now be able to see you in their network. So … when they are searching for candidates (like you) using LinkedIn (and most of them do), you will now rank in their search results!
Don’t be dispirited if you’ve never realized this before; this is not information that LinkedIn actively promotes. You can learn the mechanics of how to easily use LinkedIn to passively pull opportunities to you by growing your network here.
I have been coaching CEOs on their job-transition strategies for nearly two decades. If you take away anything from these tips … I hope it is that you DO have ample power, control and market leverage over your CEO job search! A clear focus of direction—supported by a CEO executive resume and two or three good CEO job search strategies layered in—should deliver in short time the interest, interviews, and offers you are looking for.
300k+ jobs were added in February 2018, marking the best U.S. job rate growth in 9 years.
Although this article by USA Today is strangely negative to me, as they finally confess at the end of the article, its hard to beat this jobs report!
Jobs Report: U.S. Employers Added 313,000 Jobs in February
I never say this, but I will today: I sure wish I invented a smart doorbell maker!
Oh and also AngelList says that First Round Capital says the future is women. From AngelList:
In the first two months of 2018, First Round Capital had 3 billion-dollar+ exits. It’s only March. As early investors in Uber, the venture capital firm was able to sell 40% of their shares to SoftBank back in January (netting approximately $800M). Last month, it was announced that pharmaceutical giant Roche is acquiring Flatiron Health for $1.9B, and less than two weeks after, Amazon acquired the smart doorbell maker Ring for $1.2B. First Round was an early investor in both.
First Search, First Round’s search engine for the best tactical startup advice, was also nominated for the Product of the Year Golden Kitty Award a few weeks back. It’s been a good start of the year for First Round.
The first thing you see when walking into First Round’s San Francisco office is a poster on the wall: The future is female founders.
Yet still less than 2.19% of all venture capital funding goes to female-led startups. In honor of International Women’s Day, here are 20 Female Founded Startups to Join in 2018 that are growing quickly and hiring. For more, we created an ever-growing list of over 1,300 startups founded by female founders. Check it out.