Episode 587: Andrew Wilkinson ( https://twitter.com/awilkinson ) teaches the exact step-by-step process he uses to find, diligence, hire, and transition a great CEO.

Get Andrew’s CEO Hiring Guide and Checklist - https://tinyurl.com/ms8938kn

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Show Notes:

(0:00) Intro

(1:36) Why you need a CEO

(4:44) The third door: leave the business, keep the cash flow

(8:48) Get back to your flow state

(10:46) Step 1: Are you ready to hire a CEO?

(15:16) Is this going to hurt my business?

(16:46) Step 2: Find the RIGHT CEO

(17:52) Hiring a recruiter

(21:34) Look for a #2 with the right hammer

(23:23) Be a collector of people

(27:14) Step 3: Diligencing the candidate

(28:48) Green flags, yellow flags, and red flags

(32:21) 2x not 20x

(34:41) Step 4: First 100 days

(36:35) Don't poison the water

(38:12) Flesh wounds not mortal wounds

(40:06) Meet them in person

(40:29) More on diligencing: Trust but verify

(42:38) The DIY path

(44:48) Step 5: Negotiating and structuring compensation

(46:34) Uncapped bonuses vs equity

(49:55) Myth: Is a founder-led business always better?

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Links:

• Srch - https://www.srchpartners.com/

• Business Intelligence Advisors - https://www.biadvisors.com/

• Never Enough - https://neverenough.com/

• Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym

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Check Out Shaan's Stuff:

Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd

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Check Out Sam's Stuff:

• Hampton - https://www.joinhampton.com/

• Ideation Bootcamp - https://www.ideationbootcamp.co/

• Copy That - https://copythat.com

• Hampton Wealth Survey - https://joinhampton.com/wealth

My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

#211 WSL Commentator - Chris Cote