One of the questions we most often hear from emerging growth companies and start-ups is about when they should hire executives. It is much easier to identify hiring individuals to service specific client needs or support your product. But expanding the executive team can be a difficult and expensive proposition. You want a leader who understands and shares your vision. You want the right level of industry knowledge and experience growing a company. And you must provide an attractive compensation package to sway a savvy business person who is either looking for a new challenge or needs to be wooed
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We all know how important it is to measure employee performance and hold employees accountable. Yet so many companies lack a similar review for their executive leadership teams. Why wouldn’t it be equally or even more important to measure executive performance in a similar way? Ultimately, it is the role of every executive to contribute positively to increase a company’s revenue and/or profitability.  But how can performance be tracked in process to ensure steps are being taken toward this goal? In addition, so many factors impact a company’s top and bottom line, it is difficult to determine which, if any,
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For almost 50 years, Andcor has pioneered customized solutions in the recruitment industry. Along the way, we’ve developed an incredible network of leaders … and we continue to make lifelong connections each and every day. We love sharing that sense of community and connection with others. Which is why we’re delighted to introduce Clarence Bethea. Clarence is a business entrepreneur, consumer advocate, community leader, coach, mentor and father. Over the years, he has worked with businesses from startup to Fortune 500, deepening his knowledge of business and people along the way. Clarence played an integral part in the launch of several
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  Areas to consider in evaluating individual pay Past accomplishments as CEO and/or Functional Leader of the company Relevant, prior professional experience and track record Skills, behaviors, attributes, and presentation Compensation history ‘Keep the lights on’ cash needs Compensation in the form of equity (i.e., stock grants, stock options, etc.) Our executive compensation philosophy for emerging companies Top management, especially CEOs, should be paid heavily in incentive compensation – a mix of longer term and short term incentive compensation Lower base salary with the opportunity to achieve and exceed market pay in total compensation by meeting and exceeding goals and
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How To Think About Filling Talent GapsAny start-up or growing company knows that one of the biggest challenges is figuring out how to afford the right talent that can take you to the next level. The problem we often run into is that companies are looking for a Mercedes but are only willing or able to pay for a Chevy. We are going to dissect this challenge to help you determine where to allocate your budget and how to avoid some common missteps. Identify Your Biggest GapIs your team in place but you need help raising money? Sounds like a
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Many thanks to Paul Hanson for sharing his experiences and insights. What is an Integrator? Although I have read my share of business and career development books over my 30+ year career, only a few stand out when it comes to self realization and understanding myself and how I can provide the most value to an organization. In his book “Traction – Get a Grip on your Business”, Gino Wickman, defines and analyzes a set of tools and components that make up the Entrepreneurial Operating System® (EOS). EOS addresses six major components of a business: People, Vision, Data, Process, Traction
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Since 1969, Andcor has promoted the growth of Minnesota-based startup, venture, and growth stage companies. We recently started a not so serious interview series with local growth company leaders. Twin Cities Growth Company Leaders…of the record. Brought to you by Andcor. Mike Jones, Co-Founder and CEO of Alchemy 365 and Union Fitness Favorite vacation spot? Kauai, HI What non-business book had the biggest impact on your career? Into Thin Air by John Krakauer. That’s the book that got me to join the Marine Corps which changed my career path forever Favorite Smart Phone App? Apple TV Remote App A meeting
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