Effective Outreach: Timing Is Over Half the Battle

My name is Josh Wimberley and for over 2 decades I’ve helped top executives land prominent roles at leading companies.  Before founding Lead5, I was Senior Partner and Practice Leader at a leading executive search firm.  Both of these experiences have taught me that timing is over half the battle for qualified executive candidates.

Why is timing so important?  When an executive leaves a firm, this leaves a hole that must be filled, and the sooner this role is filled, the better.    Candidates must realize that it’s in the firm’s best interest to hire the best, most qualified candidate, quickly.   Firms understand that there’s already an inherent learning curve that any executive must scale before being effective, and lengthy hiring processes only exacerbate this hole in executive leadership.

How do you make timing work for you as an executive candidate?  

Here’s a few tips I can offer:

1.  Perform your outreach as early as possible.  Do not wait until the position you seek is flooded with CVs.    Have your CV ready to go and understand that services like Lead5 have completely transformed the executive recruiting industry.   Lead5 lists executive positions long before comparable services, and Lead5 has more unlisted executive positions than any other competitor.

2.  Services like Lead5 will grant you instant access to unlisted executive jobs including the hiring contacts associated with the search.  It’s important to review those key contacts and discover if you know these individuals, or if you know someone in your network who can properly introduce you.

3.  Be prepared for the firm’s call.  Understand their business strategy and how you can help them take their firm to the next level.   Also have a picture of what your goal compensation package will look like.

Use Lead5 to uncover hidden executive opportunities and gain the intel required to land your next prominent role.   Lead5 has been the executives trusted partner for 5 years.  

Try it for 14 days. 

Lead5 FAQ and Getting Started Guide

Welcome to Lead5!  I’m Vince Martin, Chief Product Officer at Lead5.  You’ve taken the first step in landing your next prominent executive position.   To help you receive the most value from our service, please review the following FAQ.  If you have additional questions, please contact us at: info@lead5.com

What is the mission of Lead5?

To equip executives for the modern executive job search.  80% of executive positions are never posted.   Lead5 empowers our members by uncovering these hidden executive roles and providing our members with the insider intel required to land these prominent positions.

Who does Lead5 serve?

Lead5 serves an exclusive community of members ranging in level from Directors/VP’s to CEO’s.  Our members have compensation starting at $200K.   We personally vet every membership to ensure that our service is the right fit for the seasoned executives that we serve.

How is Lead5 different from other services?

1. Lead5 grants you immediate access to the hidden executive job world. We understand that executives are busy, and so we vet members on the backend to ensure expediency.

2. Timing is critical to landing executive roles. With our proprietary AI, we deliver hidden positions 45 days faster than average, giving you a competitive advantage.

3. Lead5 was founded by a former Senior Partner and Practice Leader of a leading executive search firm. We know this landscape better than anyone, and our service is built on this expertise.

How do I get started?

Go to lead5.com and click ‘subscribe.’  We will ask you some basic employment and contact information to ensure that we offer the most tailored experience possible.   We offer several subscription plans.   We are confident that you will see value in our service and offer a 14-day trial.

Do I need to upload my resume/CV?

No.   Lead5 is an active (vs. passive) opportunity search service.   We provide you with the contact information for the actual hiring official(s), allowing  you to submit your resume/CV directly to them.   Our system bypasses middlemen and ensures that your search is effective and confidential.

How do I get the most value from Lead5?

After subscribing, we recommend that you set up a personalized dashboard that takes less than a minute to create.    We will ask you for 5 data points that will help us deliver to you the most relevant positions and competitive intel.

 Is my information confidential?

 Yes.  We never share any details of our member community with anyone.

 What is the meaning of the name Lead5?

Lead5 represents the 5 filters through which executive leaders manage their careers.  The 5 filters include industry, function, and region, along with the additional filters of market cap and ownership structure unique to the executive job search.  Together these 5 filters form the lens through which executives view their career trajectory.  Make sure and set your My5 filters to ensure your Lead5 membership is targeted with intel and data specific to your background and experience.

What is the difference between a ‘potential opportunity’ and a ‘verified opportunity’?

Lead5 provides our executive members with unlisted potential opportunities and unlisted verified opportunities.

The average executive search takes 150 days.  Lead5 has proprietary algorithms that identify potential opportunities often before the formal search process kicks-off.  Therefore, a potential opportunity represents the earliest possible window when a candidate can insert themselves into the search process.   If the company decides to recruit for this type of opening, our candidates are there first.

Lead5 also identifies verified opportunities that are being actively sourced by the company.  We provide key company, investor, or recruiter contacts for direct access for these opportunities.  In total, Lead5 creates awareness of executive openings that for decades have been hidden and only offered to executives on a need-to-know basis.

What are user-generated comments on Opportunity Posts?

Lead5 members have the ability to post confidential comments to opportunities such as recruiters assigned to particular search projects, whether or not a company is considering internal candidates, or other general intel related to the opportunity.  Lead5 works best as an active community engaged and sharing leads and data.  If you know of updated intel on a particular opportunity please post a comment, add an opportunity, or email the Lead5 team directly at info@lead5.com.

What is the Recruiters section on Lead5?

The Lead5 Recruiters section is an aggregate list of the top 50 retained executive search firms in the United States along with highly credible boutique search firms with specific expertise by industry and function.  Lead5 regularly audits these recruiters for updates and additions/deletions.  Each recruiter is coded by their specific area of focus across industry, function, and region. This gives Lead5 members the ability to discover which recruiters they should be in contact with for their particular job search.

Can I invite others to become members of Lead5?

Yes, you have 10 invites per member of Lead5.  We ask that you keep invites specific to C-level executives or those with the potential to aspire to be C-level executives.  If you run out of invites and would like more please email the team at info@lead5.com and we will evaluate this on case-by-case basis.

Use Lead5 to uncover hidden executive opportunities and gain the intel required to land your next prominent role.   Lead5 has been the executives trusted partner for 5 years.   

Try it for 14 days today. 

Increase Your Executive Opportunities by 70%

Based on my two decades of experience as a Senior Partner and Practice Leader at a leading executive search firm, I can tell you that being a reactive job seeker is holding you back in your career.  But the good news is that there’s a better path forward.

In this blog, I’m going to share with you an example of how the executive search process actually works.  Within that construct, I’ll help you proactively insert yourself in the search process at the right time to help you land your next executive position.

Let’s start with a brief primer on how the executive job search process works using John Smith – a departing West Coast CMO – as an example.   As I describe this process, I’ll explain what each step means for you as a prospect seeking a CMO role on the West Coast.   Of course, this example will fit for all executives like Chief Financial Officers, Chief Legal Officers, etc.   Let’s dig in.

John Smith is a seasoned CMO with a West Coast-based firm who has all the boxes checked.  He’s grown the brand remarkably, successfully managed P&L responsibility, and has demonstrated mastery of all aspects of executive leadership.   He’s well-respected by his peers, and his board of directors loves him.    Obviously,  John’s firm would like to keep him around for a long time.

Then lightning strikes.

John’s wife decides she wants to relocate back to New York City to care for her ailing mother.   John agrees to the move and makes a lateral shift back to the East Coast.   Now his former firm is scrambling.

John’s now former firm will choose 1 of 3 options, and I’ll explain what these options mean for you as his potential successor:

Option 1:  John’s firm can hire from within. If there’s a great a candidate waiting in the wings, they’re all set.

What’s this mean for you? In this case, you have no chance in succeeding John.  But many times, there’s no ideal internal candidate so the firm moves to option 2 or 3.

Option 2:  Start a retained search process. In the past, this meant that your chances of replacing John were slim because you never had visibility to the opening.   You would be dependent on the long odds of being on the retained search firm’s list.

Services like Lead5 have changed the narrative on this.   Lead5 would uncover this opportunity along with key contact information.   Lead5 would also give you inside intel on the opening so that you could target your outreach effectively.   It’s important for you to note here that the search firm doesn’t care ‘how’ they source the right candidate.   All they care about is finding the right fit for their client, and the faster the better.   Remember, John’s firm has a hole and it’s in their vested interested to fill it with the right candidate quickly.

What’s this mean for you? First off, you need to have your C.V. and outreach strategy solidified and ready to go.   Second, you need immediate knowledge of this position so that you can strike before your competition does.   Services like Lead5 allow you to filter on important criteria and immediately expose these hidden opportunities on our site and via email.

The takeaway: Be prepared, be proactive, and strike when the iron is hot.

Option 3: John’s firm will take 4 to 6 weeks to explore quick hit ideas from senior management, the board of directors, marketing firms, etc.  If at the end of the 4 to 6 weeks they have not found a high-quality candidate, they will start a full retained search process (see Option 2 above).

What’s this mean for you? Understand that John’s firm is essentially scrambling for options here.   Their core competency is not executive search, and this process is taking time away from running their business.  This mean that as a candidate, keep in mind that John’s firm wants to find the right candidate quickly, and get back to focusing on building products and serving customers.

The takeaway: Be prepared and proactive.  Know that it will increase your odds to strike during the first three (3) weeks of this process.   If you’re a good fit and your outreach is strong, you have the potential to land this position before the firm resorts to hiring a costly retained search firm.

To summarize, options 2 and 3 above are your sweet-spots as an executive candidate.   In the past, they have hidden to you as an executive job seeker.  Services like Lead5 make these opportunities visible and arm you with insider intel that will help you stand out as a candidate.   Once you have near real-time visibility on executive openings, I can’t stress enough how critical timing is in this equation.   Therefore, it’s important to remember two things:

1. Firms have a vested interest to filling a key role with the right candidate quickly.

2. Executive jobs are highly competitive. It’s critical that you insert yourself promptly so that you’re at the top of the recruiter’s list, before the surge of C.V.’s hit.

The modern executive job search is experiencing a transformation.   Executive candidates who are proactive will have access to more opportunities and will maximize their earning potential in the marketplace.

Use Lead5 to uncover hidden executive opportunities and gain the intel required to land your next prominent role.   Lead5 has been the executives trusted partner for 5 years.   

Try it for 14 days today. 

5 Tips to Mine the Hidden Executive Job Market

The challenge: 80% of C-Suite level executive opportunities are never published.   If you’re an executive looking to make a career move, that statistic can seem daunting.

In the past, due to the secretive and cumbersome process of finding executive search opportunities, executives have been trained to be passive in their career journey.   This includes waiting on a call from a retained recruiter, sending in a CV for a published executive role (where it sits on a desk with the other 1,000 CV’s), or networking and hoping that the stars align.

But there’s good news.   There is a better way.    Here are 5 effective steps to help you transition from being a passive executive job seeker to a proactive participant in your career.   Now you have the power to land your next senior role.

1. Subscribe to Lead5.com. Lead5 has helped leading executives tap the hidden executive job world for the last 5 years.    It was founded by Josh Wimberley a former Senior Partner at Korn-Ferry who recognized that executives need transparent access to unpublished senior roles the moment they become available.

2. It’s a timing game. The highest earning positions are the most sought-after.  As such, you must throw your hat in the ring at the earliest possible point in the job search.   Lead 5’s edge is timeliness driven by its proprietary AI.   Lead 5 lists jobs on average 45 days before other comparable services giving you a competitive edge.  

3. Be prepared.  Related to timeliness listed above, you must have a keen sense of what your next role will look like, and how to tailor your CV and outreach accordingly.   Remember, companies have a vested interest in landing the right candidate sooner rather than later.   Make sure you’re prepared to strike.  

4. Information is key. At the executive level, your understanding of the role, company, and industry is table stakes.   To stand out from your competition, you should leverage insider information.   For example: services like Lead5.com inform you on the dynamics of departures so that you can understand who you are attempting to replace (and in certain cases, who you should actively differentiate yourself from).

5. Continuous networking. Too often we see executives tapping into their network after they sense their current opportunity is no longer viable.   As executive job transitions often take 180 days on average, this means that they’re already behind the eight ball.  The lesson?   As busy as you are, don’t neglect the people that have played a role in your success.   Likewise, be the person that other executives seek out when they need a helping hand.   This is an exclusive world and what goes around, comes around.

Most executive jobs are unlisted.   Use Lead5 to uncover hidden executive opportunities and gain the intel required to land your next prominent role.   Lead5 has been the executives trusted partner for 5 years.  

Try Lead5 for 14 days today.

 

The Private Equity Industry Is Booming: What Does This Mean for You?

Over the last decade, the private equity industry has sky-rocketed as cheap debt from low interest rates has provided fuel to the leverage model along with more investors realizing the remarkably favorable risk-reward ratio of a well-managed PE-backed backed deal.   As the private equity model continues to build momentum, more executives from public companies are being approached to join PE-backed companies.   Have you been approached by a PE-backed firm?   If so, I’m going to share some PE industry insights from Dave Justus, a veteran PE-backed CFO, and also a Lead5 advisory board member.  I’ll close with 4 key attributes that successful private equity executives must have to thrive under this ownership structure.

Why is Private Equity Booming?

Dave Justus is the former CFO of Avetta and he’s a PE-backed veteran, and Dave also serves on the Lead5 advisory board.   He recently shared these insights on private equity’s emergence.

Mr. Justus says, “Investment by private equity firms (PE) is booming and, in some ways, overtaking public and venture capital as the preferred investment model.  While PE funds are being raised at a record rate, the number of publicly listed companies in the US has dropped by 20% over the past 10 years and by over 50% over the past 20 years.  The attractiveness of being a public company has diminished somewhat in the past decade because of regulatory pressures and costs.”

Mr. Justus continued, “With venture capital (VC) deals, investors were mainly betting on the success of the CEO and management team’s ability to create a sustainable business.  The typical success rate for early stage was around 1 in a 100.  The odds in VC were long, but the returns were very high with a successful exit.  PE on the other hand invests in professionalizing and scaling proven businesses in established markets, without taking much, if any, business plan and market adoption risk.  PE firms typically expect a 3x return on their investment in a 3-to-5-year horizon.  In a nutshell, PE can be a heavy lift operating environment to professionalize and scale the business in an established market, but is much more of a ‘sure bet.’  As a result, there’s a flood of executives looking to get into this space.”

B2B firms have traditionally represented the largest private equity target, but PE-capital continues to pour into IT, B2C, Financial Services, and other industries.   In 2017, over 4000 PE-backed deals occurred, representing an investment value of over $500B.   With deal volumes staying high, more top executives from traditional public companies are being recruited to play key roles in company transformations.

Lead5 Analysis Shows Private Equity Salary Growth

This PE growth is generating higher salaries for qualified executives.   For example, Lead5 compensation analysis has shown an increase in the average base salary for CFO’s of PE backed lower middle market companies over the last 2 years.  The mid-point of base salary has traditionally been roughly $250,000.  With a highly competitive market for proven players with previous PE portfolio company CFO experience, the base salary range has jumped up to $300,000.

What makes a PE-backed executive successful?

 To be a successful executive at a PE-backed firm, you must recognize that the investment horizon for most PE-backed deals is 3-5 years and operate with an appropriate sense of urgency.   You must be comfortable leading in an environment that demands successful financial results on a compacted timeline.   Also, part of the PE-backed ‘playbook’ is cutting out unnecessary expenses so being resourceful with limited resources is paramount to your success.

Here’s a list of executive leadership traits that are critically important in a PE-backed operating model:

1. Bias for action. Within larger public firms, due to the sheer size and some of the ingrown bureaucracy that comprises the company culture, you probably attend (and maybe even lead) some meetings that are customary – where updates are exchanged, and decisions are postponed or never even made.  In the PE-backed company culture, meetings are principally about making important decisions, some of which will change the direction of the firm.   In short, it’s about being decisive and taking action.

2. Entrepreneurial. PE-Backed firms are notorious for ‘stripping out the fat’ and this includes support and administrative staff.   Are you comfortable rolling up your sleeves and doing whatever work that needs to be done?   Successful PE execs find this environment to be both challenging and rewarding.

3. Team Skills/Emotional intelligence. With limited resources, can you rally your team and inspire them to move the firm forward?   First, you have to be able to earn the trust of your subordinates.   Then you have to understand when to hit the pedal and when to give your team a break.   Can you keep the work environment upbeat and positive when the heat is on?

4. Confident Communicator. You’ll be expected to produce results quickly, and you’ll be asked to provide progress updates more frequently than at large public firms.   Do you have the confidence and communication skills to defend what you’re doing?    It’s important to recognize that leadership in a PE-backed firm requires effective communication with not only your subordinates and customers, but also the private equity firm that has an investment stake in your success.

Most PE-backed executive jobs are unlisted.  Use Lead5 to uncover hidden PE-backed executive opportunities and gain the intel required to land your next prominent role.   Lead5 has been the executives trusted partner for 5 years.  

Try it for 14 days today.