A Message From Jeff

Dear Friends,

With interest rates still being relatively low, we have seen an incredible increase in LBOs, M&A deals and private equity investments in marketing services businesses.

As an executive search and executive coaching firm in this sector, we have been obtaining approximately 25-30% of our assignments recently through introductions by private equity investors to new portfolio companies needing a COO, EVP-New Business, CFO or other C-level positions.

We feel there are some important differences between working for large corporate America and working for private equity, and we thought it would be worthwhile to contrast some of these differences this month. Read "Are You Ready to Work for Private Equity" below.

Once you've read the article, send us your thoughts on it, and we'll run some of them in our next ezine. We've included in this issue some of your feedback on my article from August, "Digitally Deficient CMOs," which also appeared in Advertising Age magazine.

This month's ASK OUR COACH addresses the challenging issue of having to suddenly look for a job--after years in a leadership position--because your company is being sold. Take a look for some good information for everyone experiencing or anticipating transition.

Finally, we'd love to connect with you at any of the Fall conferences we'll be attending, including the 5th Annual Financial Services Marketing Symposium, where I'll be moderating a session titled "Helping the Boomer Segment Meet Their Financial Services Needs." See below for a list of our conferences.

All my best,

Jeff Gundersen, CEO
Executive Connections, LLC
jgundersen@executiveconnects.com
Direct: 941-323-8300
Executive Search, Coaching & Consulting
http://www.executiveconnects.com

Are You Ready To Work For Private Equity?

What personal characteristics do firms like ours look for when we conduct executive searches for private equity-financed businesses? More important, for your personal brand, how can you assess if you have what it takes to work for a private equity-financed business? And what can you expect once you get there, in terms of the operational differences, compared to working with a publicly owned holding company? Read the full article.

ASK OUR COACH

As part of our commitment to provide assistance and support to executives wanting to further their professional and personal brand, we have created the ASK OUR COACH email service where you can get confidential answers to your career questions. What's on your mind? Don't hesitate to ASK OUR COACH.

Here is our answer to a question we received last month:

Q: "I am president of a 50-person marketing services company, recruited by the CEO 15 years ago and given an equity stake. We have built the business up and now our company is being sold. I am realizing it will soon be time for me to look for another job. Where do I start? For instance, I have not prepared a resume in over 15 years."

A: After almost 15 years with the same organization, you are now about to begin a new chapter in the life of your personal brand. You could jump right in to something new, however, this is an ideal time to step back, "breathe" and ask yourself some important questions that will guide you to your next career opportunity. Prepare so that you can "attract" the right opportunity, not chase after something you might later regret. And I say career opportunity, because your next position will be a great opportunity, if you do the work it will take up front.

As you begin to evaluate your personal brand, ask yourself questions such as: How do I want to be known? What do people say about my leadership style? What are my beliefs, values? What connections do I have in the marketplace? Which marketplace? How many more careers do I have in me?

Another line of questions to follow starts with: "What type of business do I see myself in over the next five to 10 years?" If your answer is to find another position in a similarly sized marketing services firm, then ask yourself "Where?" Do you plan/desire to remain in the same geographic region, or are you open to/interested in a change of venue? Do you have the resources to consult or do you want to tap into your entreprenurial talents? What are your vacation needs? What hours do you want to work, and do you want work from your home office more? What are your long-range personal goals (get your handicap up to par, spend more time with your kids, create more financial freedom, etc.)? These are all important considerations.

A resume is just one element of working on your personal presentation. How do you look? How do you feel? How do you dress? How do you present yourself? What changes and upgrades do you need to make before putting your personal brand on the market? Consider getting a new wardrobe, a personal makeover, a personal trainer, a speech coach. What does your personal brand need to raise the effectiveness of your initial impressions?

In our experience, companies/agencies the size of your current firm rarely utilize outside executive search consultants to identify a president or other senior officer positions. So the likelihood is that you will not only need to develop a resume, you will need to target and solicit meetings with companies you identify through personal research and connections.

Of course, I would recommend engaging an executive coach, someone who can work with you on your transition plan and provide you the support and connections you will need to manage this upcoming change process. Also, a coach will tell you things that your "Yes" men would never tell you, which can lead to some very interesting conversations and changes you may need to prepare for.

Oh, and by the way, you may want to include your family in this next decision. Chances are, they will have great input and their own agendas, which can make your decision much easier.

Happy landing!

Connect with EC at These Conferences

JEFF will be the moderator on Monday, October 15, 2007, for:

"Helping the Boomer Segment Meet Their Financial Services Needs"

The "Boomer Segment" is composed of 78 million+ people born between the years 1946 and 1964. The earliest Boomers have just turned 60 years old, and over the next two decades, 10,000 Boomers per day will turn either 50 or 60 years old. This panel discussion will address the key financial services needs and attitudes of Boomers, including:

• How the Age Wave will transform financial services
• The longevity revolution
• From Baby Boom to Age Wave
  
• Changing the nature of retirement
  
• Reinventing financial services for the Boomer niche segment
  
• What solutions AARP Financial has to help Boomers meet their financial needs
  
• The new AARP Financial brand: what is its mission?
  
• New financial products and services in the pipeline: mutual funds, annuities and others
  
• How will AARP Financial support the growing number of small businesses started by Boomers?

DMA '07--Conference and Exhibition
October 13-18, 2007
McCormick Place West, Chicago, IL
1.800.293.7279 begin_of_the_skype_highlighting              1.800.293.7279      end_of_the_skype_highlighting (US callers) or 1.330.425.9330 (Int'l. callers)
$1,799 (standard rate)

Be part of the world's largest event for marketers for inspiration, education and innovation!

Register for DMA 07

Your Feedback to Us

Following is some of the feedback we received to our article in last month's EC ezine, "Digitally Deficient CMOs." Our article was first published in Advertising Age magazine.

"I read the article in Ad Age and thought it was awesome. It's a message I have been carrying out there. Our company is a new systems integrator, bringing Sales Force and Eloqua demand generation systems to companies. I sent your article to pretty much the whole Eloqua team."

"Hi Jeff. I read your column in Advertising Age with great interest. It always amazes me how so many CMOs today are not proficient and current in terms of digital marketing. After all, the days of relying exclusively on the traditional above the line marketing disciplines are over."

"Jeff--Excellent article in Ad Age about what I believe is THE central issue facing marketing and advertising for the next 20 years. There is a significant dearth of digital knowledge at the highest levels of marketing and creative leadership. The reason is obvious: we were all formally trained for the way business was, not for the way it would become when digital transformed it. I hope CMOs read your article and pay attention. There are serious opportunities ahead, but only if we are able to recognize them for what they are."

"Hi Jeff. Although we have not had the pleasure of meeting, I wanted to thank you for your excellent piece on 'Digitally Deficient CMOs Need Not Apply.' I have been in digital marketing since the late 1980s and I am, only in the past few years, enjoying the fact that the business world seems to be finally seeing the value of digitally focused CMOs and CEOs."

"Jeff, I read this in Ad Age and tore it out to keep it. I think it is a great outline for me to understand what I need to learn going forward."