We Spent $140K Just to Fire Someone

Summary

• I experienced a challenging situation where we hired an expensive executive through a recruiting firm, which cost us $140,000.
• This executive was supposed to bring value to our technology sector, but failed to meet basic expectations from the very beginning.
• The individual was notably late to several meetings over the course of two days, which immediately raised red flags for us.
• The reason given for being late – struggles with using Zoom – was not acceptable, especially for someone with a CTO background.
• Our policy is to give trust up front, but when someone shows a pattern of unreliability and lack of commitment, that trust is withdrawn.
• We had clarified the need for full engagement in this role, yet the executive's actions showed a possible divide in attention which signaled deceit to us.
• Ultimately, we made the tough decision to terminate the executive's position as we value punctuality and reliability highly in our company culture.
• This experience reinforced the idea that not all high-cost investments yield valuable returns, and that rigorous vetting of dedication and compatibility is crucial.

Video

How To Take Action

I would suggest starting with trust, but if someone shows they aren't reliable or committed, don't be afraid to take action. Here's what you should do based on my experience:

• When you hire someone, especially if it's a high-cost decision, make sure they prove their value right away. If something feels wrong, like they're late to meetings without a good reason, don't ignore it.
• Give people trust up front, but be ready to withdraw it if they don't meet basic expectations. It's important to see that they are as committed as you are.
• Make sure to have clear communication about what you need from them. Like for us, being fully engaged and punctual was vital. If they don't live up to that, it's a sign of deceit or a lack of dedication.
• Sometimes, you might have to make a tough call, like letting someone go. Remember, it's not just about the money you spent, but also about keeping your company culture strong.
• Learn from experience. Not all expensive things bring the best value. Next time, you might want to do more detailed checking on a person's dedication and see if they're a good fit for your team before hiring them.

To sum it up, pay attention to red flags, communicate expectations clearly, and be willing to act fast to protect your team's culture and values. And remember, spending more doesn't always mean getting more. Invest in those who show true commitment to your vision.

Quotes by Alex Hormozi

"It was a bloodbath of a call to be really honest with you"

– Alex Hormozi

"We went through a big fancy recruiting firm"

– Alex Hormozi

"You're a CTO one, you're an executive secondly"

– Alex Hormozi

"We let him go, it was a bloodbath of a call to be really honest with you"

– Alex Hormozi

"I don't trust you"

– Alex Hormozi

Full Transcript

it was a bloodbath of a call to be really honest with you we went through a big fancy recruiting firm we spent $140,000 to recruit one executive that was like an ex- Microsoft person we wanted to invest in this technology in one of our companies the first day the guy was late to two out of three meetings and we're like that's weird and then the next day he was also laid again to multiple meetings on zoom and when we hopped on the phone he said ah I just I've had trouble figuring out Zoom you're a CTO one you're an executive secondly you're a technical executive and you're saying that you're having trouble with zoom we let him go it was a blood bath of a call to be really honest with you the I was like I quit my job blah BL and some people are going to listen to this and be like you guys are whatever you don't have full context they had a Consulting business in between so they had left their previous role they were Consulting for a bunch of companies and we said hey we want to make sure that you're all in on this when you come on and so for us if someone's really spotty with their schedule being really private with their time and then late to multiple things for no apparent reason that would be an indicator that they're lying and so for that reason we decided hey we gave you the trust up front but I'm not going to wait for you to figure out because even if you do I don't trust you