5 Strategies for Identifying Innovative Candidates to Replace Yourself as Founder

In 2012, Jaclyn Johnson founded Create & Cultivate, a media company that educates and inspires women to succeed in business.

By 2018, Johnson had grown Create & Cultivate to eight employees when an acquirer offered her a staggering $40 million. Unfortunately, the deal was too good to be true. When the acquirer discovered how dependent the business was on Johnson to succeed, they pulled out.

A few years later, Johnson signed an acquisition offer from Corridor Capital for $22 million. While still a lucrative deal, it was a significant decrease from the original offer.

Like Johnson, if your company becomes dependent on you, it may end up costing you down the road. The most valuable companies don’t rely on the owner’s involvement to succeed. However, finding extraordinary talent to replace yourself can be challenging.

Instead of basing your hires off an impressive name on a resume, look for someone innovative, comfortable with chaos, action oriented, and creative—someone with an entrepreneurial mindset.

Here are five strategies you can use to identify innovative candidates when making hiring decision. If your goal is to replace yourself, following these five strategies can increase your chances of identifying innovative candidates that will bring fresh thinking and creativity to your organization.

1. Look for problem-solvers.
2. Ask about their approach to problem-solving.
3. Evaluate their learning agility.
4. Assess their ability to work in teams.
5. Consider their creativity.

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Franne McNeal, MBA Significant Business Results, LLC Significant GPS Small Business Growth Services