What’s the difference between hiring an executive recruiter to find the perfect candidate for that important position in your firm and hiring an outside expert firm to find the best candidates for acquisition? Not too much, I think.
1. Understand and define the ‘center of the bull’s-eye‘ for the search. The first is a position description with a clear understanding of the culture and environment. The second is a set of criteria that describe the important characteristics of an ideal acquisition target.
2. Search broadly for candidates that closely match the requirements. On the recruiter side, this includes those executives that are currently fully employed as well as those in transition. On the acquisition side, it includes companies and owners are not in play, but are open to a discussion. Both approaches help avoid an auction environment.
3. Research and profile the candidates. Comparisons are drawn to the others on the short list. Candidates that don’t fit are not brought into discussions, thereby improving the use of the client’s time and avoiding costly mistakes.
4. Provide detailed background information and make introductions to the client.
5. Facilitate the client’s process for vetting the candidates.
6. Enable a successful conclusion.
7. Stand back to enjoy the results achieved for the client!
Both activities are critical to success. Outsourcing is not a dirty word…done well, it brings the right expertise to help companies achieve their goals in an efficient and cost-effective manner with people who do these functions full time.
Researching and Profiling
Privately Held Companies for Acquisition
Have something to add? Your own business wit?
Got a different point of view, want to play devil’s advocate, or just think we’re all wet? Post your experiences or examples.