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About the Episode
Coming up you will hear from an entrepreneur who sold two companies to Blackberry and why selling the first time was one of the more difficult points in his career. Also, listen to the interview questions he asks potential employees and what to do when someone is not performing up to par.
Why Selling to Blackberry was a Difficult Points in his Career
For Jay, selling a company is a rough road and the first time was the toughest. It happened with their first company during the time that the tech bubble crashed. They were burning a lot of cash starting a business when Blackberry came along. They were working on the terms of the deal but it went bad that they couldn’t go through with it. It was a very low point for them because it was a terrible and demoralizing feeling to think of laying people off and starting over. But in a spin of events, Blackberry came back with a more agreeable offer and all ended well. The lesson he took away from the experience is never to make enemies, shut down deals respectfully, say all your thank you and keep it friendly because you just never know.
Their Interview Process for Potential Employees
To determine if people are culturally fit for the company, their team lets them go through a rigorous technical interview process. They will ask programmers, for example, questions that they don’t necessarily expect them to know the answer to, to gauge how they react to the situation. They will then measure how these applicants will communicate and collaborate with them, as these are the aspects that they are looking for: how they will respond to stress. Through this, they can get a glimpse on how the person will work with them and with others.
What to Dowhen Someone is Not Performing up to Par
If you have people who aren’t effective in a particular role, you can shift them sideways to an alternate role. If you have good relationships with them and if they have contributed in some level, it’s hard to find new ones to replicate them. It’s important for a leader to identify what people’s strengths are and make those kinds of changes.
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