Seizing market share is about speed to execution and quality. Achieving this requires a combination of team alignment and strong leadership. A bad executive leader can interfere with both of those things.
The skull-crushing pain, suffering and brain damage that results from hiring the wrong leader is usually followed by a whole host of problems that reach beyond the realm of just lost market share.
A failing functional leader can continue to hemorrhage cash burn while damaging organizational effectiveness. And not only is the bad hire costing you cash, it’s also interfering with your ability to grow the business. You aren’t seizing market share the way that you would like and it’s creating uncertainty. The market opportunity is slipping through your fingers.
So what can you do to seize the most market share in the midst of an important executive search?
1. Step into the Role
No matter the drama, the show must go on. And that means that someone has to step into the functional role that your executive search seeks to fill and provide leadership to the team. You as the CEO now have to act as the marketing lead or product lead – whatever needs to be done.
2. Rally the Team
Once you’ve stepped into a hands-on role, use this opportunity to bring your team together. Communicate, build clarity around core values, create and share your vision for the better outcome you are all working towards. Franklin D Roosevelt said, “A smooth sea never made a skilled sailor.” A missing leader may have created some tumult – and this represents an opportunity to let your leadership lead the way. A crisis is a terrible thing to waste. This is your chance to reinvigorate and strengthen team alignment.
3. Recruit Like an Expert
Learn from any mistakes you’ve made in your executive search so far and make corrections – immediately. If you’re replacing a bad hire, you’re probably also thinking you chose the wrong search partner. Insanity is doing the same thing and expecting different results. Change the way you recruit so you can get the results you desire. Most search firms operate at Level 2 recruiting, relying on referrals and networking. For top high-growth companies who want the best, this strategy won’t nearly suffice. There’s a better way of recruiting and that’s through Level 3 Recruiting™and a Core Fit Process™. Bring in an elite, special forces recruitment team that is equipped with the expertise and proven methodologies to turn any situation into a silver lining.
We’re all looking to conquer the world with what we are doing. We need good people to help us do it, people who want to achieve success for themselves and who can help us achieve our greater purpose as a team.