104 - Why a Talent Partner is Key to Your Company's Growth with Kelie Morgan
Jan 6, 2025
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In this engaging discussion, Kelie Morgan, founder of 10th Street Talent, shares her inspiring journey from stay-at-home mom to executive recruiter. She dives into the evolution of her firm as a talent partner, emphasizing collaboration over traditional recruitment. Kelie highlights the innovative use of AI in talent sourcing and discusses the importance of interpersonal skills in business. She also explores the balance between client fulfillment and building relationships, illustrating how a strategic approach can lead to sustainable growth for small to medium-sized businesses.
10th Street Talent evolved from an internal solution to a standalone firm by addressing the unique recruitment needs of the lower middle market.
The company differentiates itself as a talent partner, emphasizing collaboration and cultural fit over the traditional transactional nature of executive search firms.
Utilizing AI and innovative strategies, 10th Street Talent streamlines the talent search process while maintaining a strong focus on client fulfillment and quality service.
Deep dives
The Transition from Solopreneur to Business Owner
Shifting from a solopreneur to owning a company requires substantial effort and a strategic approach. The founder recognized that to scale beyond personal limitations, it was essential to formalize operations and hire effectively, including international talent. This transition is particularly significant in nurturing a business that can thrive independently. Establishing a firm like 10th Street Talent becomes vital in leveraging a network of talent to meet the needs of growing companies.
The Unique Model of 10th Street Talent
10th Street Talent positions itself as an internal talent partner rather than a typical external recruiting service. This model emphasizes collaboration with clients to understand their culture and needs thoroughly. The firm focuses on identifying not just C-suite positions but various functional area leaders within small and medium-sized enterprises, which often have more complex organizational structures. By concentrating on cultural fit and team growth, the firm aspires to redefine the traditional recruitment process.
Genesis and Growth of the Firm
The inception of 10th Street Talent stemmed from a pressing need to better source and develop talent for portfolio companies under Permanent Equity. Initially, the founder faced challenges with external search firms that fell short of understanding the unique aspects of the lower middle market. After receiving positive feedback from peers at an industry summit about the need for effective recruiting services, the decision to formalize the venture was made. This foundation of internal testing, learning, and refining processes has enabled quick adjustments to strategies based on immediate feedback from hires.
Adapting to Client Needs and Market Dynamics
The firm recognizes the critical role of responsiveness in a dynamic market where clients may range from small businesses to established enterprises requiring transformational hires. Integrating AI and innovative recruitment practices aims to streamline processes and better identify top talent. The firm's commitment to focused service means actively ignoring distractions that could complicate the hiring mission, ensuring quality over quantity in business development. This deliberate strategy positions 10th Street Talent as a go-to resource for companies in need of skilled leadership.
Future Aspirations and Business Strategy
The vision for 10th Street Talent extends beyond early financial success, aiming for sustainable growth while maintaining quality client service. The founder believes that delivering exceptional value to clients will naturally drive business expansion. By investing in AI technologies and a robust team, the firm aims to enhance its recruiting effectiveness and offer superior client experiences. Ultimately, while setting ambitious financial targets, the emphasis remains on nurturing existing relationships and continuously adapting to market demands.
Join me Nik (https://x.com/CoFoundersNik) as I sit down with Kelie Morgan (https://x.com/keliemorgan), founder of 10th Street Talent, an executive recruiting firm that spun out of Permanent Equity, to discuss how she built her company and how it operates. Kelie shares her journey from being a stay-at-home mom and part-time fitness instructor to becoming a leader at a family-owned fitness center, then joining Permanent Equity and eventually launching 10th Street Talent. Kelie describes how the company is more of an internal talent partner than an external service provider, and that it focuses on finding transformational leaders for small to mediumsized businesses in growth mode. She also explains how they utilize AI and other innovative strategies to improve the talent search process.
In this episode, we explore the genesis of 10th Street Talent and their unique approach to executive search, which involves a highly collaborative, strategic process to find the best talent for their clients. Kelie also talks about the importance of a "white glove" service and building a team focused on client fulfillment.
Questions this Episode Answers:
How did 10th Street Talent evolve from an internal talent solution at Permanent Equity to a standalone executive recruiting firm?
What does it mean to be a "talent partner" and how does that differ from traditional executive searchfirms?
How does 10th Street Talent use AI and other innovative tools to enhance its search process and find the best talent?
What is the ideal client profile for 10th Street Talent, and what is their service model?
What does the financial structure of 10th Street Talent look like and what is Kelie's vision for the future of the company?
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