Startup Funding Espresso – Hiring a Turnaround CEO

Hiring a Turnaround CEO Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In many turnaround situations you'll need to hire a new CEO. Here are some key points to consider when hiring: Track record -- look for someone with a proven track record in turning around businesses. Cash management -- needs to monitor cash on a daily basis and manage all expenses closely. Operations focus -- must have an operations mindset and the ability to apply it to the startup in a turnaround. Financial literacy -- must be able to read the financial statements and understand the current state of the business. Problem solving -- must be able to look at the situation and identify the problems to be solved and come up with initial solutions. Transparent -- must be able to talk candidly about the business and the proposed solutions. Expeditious -- must be able to take action quickly and not get bogged down in consensus-building. Change management -- must be able to hire and fire people as the needs of the turnaround business will be different from the previous business. Consider these skills in hiring a turnaround CEO. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Investors check out: https://tencapital.group/investor-landing/ For Startups check out: https://tencapital.group/company-landing/ For eGuides check out: https://tencapital.group/education/ For upcoming Events, check out https://tencapital.group/events/ For Feedback please contact [email protected] Please follow, share, and leave a review. Music courtesy of Bensound.