EPISODE 4 - Do You Have the Right Talent?

Executive Summary

Welcome to CEO Brain Food, a show aimed at providing key insights, fresh perspectives, and proven tools that CEOs can apply to build enterprise value, generate higher profits and develop the talent needed to succeed in their businesses.

In this episode of CEO Brain Food, Michael breaks down the importance of finding the right talent to grow and scale an organization. Michael references the great Jim Collins’ six core competencies of hiring a team. These include hiring talent who are responsible, consistent, and do not require micro-management. Michael also introduces the concept of mirror maturity and urges all organizations to develop their own set of core values in order to identify and retain the right talent.

Episode Highlights

00:49 – Introducing today’s topic, Do You Have the Right Talent

01:26 – Why this is such an important topic in the early stages of a company’s growth

02:16 – The People Equation

02:55 – Developing the skillset necessary to identify the correct talent

04:39 – Growing and scaling a business

06:10 – Challenges growing companies face when looking to add talent

08:49 – Top Grading

09:56 – How Zappos’ culture became a magnet for new employees

10:47 – Why some companies fall asleep at the wheel when it comes to hiring talent

15:24 – The six core competencies of hiring a team

17:35 – The importance of responsibility

19:18 – Consistency

20:34 – The power of saying ‘No’

22:26 – Why the right people do not require micro-management

24:57 – Mirror Maturity

26:17 – Developing a set of core values

30:08 – Michael teases the topic of the next episode of CEO Brain Food

Tweetable Quotes

“If you can think broadly about skills versus passion and alignment, those two things are critical in determining whether or not a person is going to be successful in the position or in the company.” (03:17)

“The more people that you have on your team that believe in what you’re doing and have passion about it, the more successful you’re gonna be.” (06:01)

“It’s often proven that the A performers, the best people that are highly productive and very much aligned with what you’re doing, they have a network and they like to hang around other A performers.” (09:37)

“If you begin with ‘who’ rather than ‘what’ you can adapt more readily to the ever-changing marketplace. If you have the right people on the bus, the problem of motivating and managing people largely goes away. With the wrong people, it doesn’t matter whether you discover the right direction. You still won’t have a great company.” (14:09)

“If you feel the need to be tightly managed then maybe you’re the wrong choice for the company or the job.” (23:11)

“Nothing great ever happens unless it is fueled by passion and passionate people.” (24:50)

“I would just, in summary, say develop you’re core values first and build a set of core values for your company.” (26:17)

Links Mentioned

Michael’s LinkedIn 

Michael’s Website 

Knowledge at Wharton Video Series

Jim Collins Website

Books Mentioned

Good to Great: Why Some Companies Make the Leap and Others Don't