Best ways to find the RIGHT Partner, COO for my company
I am looking for outside opinions on the best ways to find a rockstar COO/business partner for my company.
We are an Ohio based firm doing 15-20+ deals monthly. Flips, Rentals, MF, Wholetails, Commercial Flex/Med space, etc.
I've worked with many folks in the past, including attempted partnerships, some of which were less than honest and did not work out at all. Some were good and honest, just NOT the right fit personality/goals wise.
Obviously, local networking is the first answer to my question. REIAs, etc. I already know that and I'm looking for OTHER methods. Most of those folks just want to see what they can learn from you, not build a brand and build a team and grow into the future. I get 10 "pick your brain" requests daily....that is NOT the type of person I'm looking for.
Where else would you look to find someone that has the right synergy to bring into your business as the COO and even a potential partnership basis? Headhunter? FB referrals have never worked out well.
I need someone with the strong suits that I do not have to compliment me. Attention to detail, marketing, tech experience, HR management, etc.
In true Traction style, I am the Visionary and I am looking for the right Integrator.
And no, this is not a 50/50 partnership offer in any way. We are already far too established to offer someone to come into that situation, so this would be a profit share, COO, small ownership interest scenario.
Any feedback, ideas, suggestions, etc are very much welcome. Thanks!
Most Popular Reply
@Bryan Blankenship get their skin in the game. Create incentives for them to not want to jump ship after taking what they learned. If not an equity partner, then be creative. Make them love where they work and the environment. Find out what motivates them. Is it stability and security? Is it creativity and risk taking? Then structure the incentive around their personality to drive them. Protect all your proprietary structure with NCA and NDA even after they leave so they know their are legal ramifications if they take your systems and run. Really define your needs of the COO job duties and hire a COO who has been successful in your market at his prior position. Don't be cheep. Use a search company to help bring in the best candidates.