I was contacted by a company called Execreps, which is essentially a talent agency for corporate execs. To wit, if you are a
Anyone know about ExecReps? "Agents" for execs to get onto boards of directors...
Answers
Standard business acumen applies. Anytime someone offers connections for a position but wants an upfront fee to get those, use great caution.
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I was interested in seeing whether anyone had actually used these folks.
In the meantime, if I do anything with them it would be for no up-front fee. Thanks for that reality check, though.
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I was also contacted and came to the same conclusion.
Likewise, I was contacted by them as well. I have the CFO title but have no illusions at this point in my
After digging into the details, even just using LinkedIn, you can see that most of the employees are in their early 20's with no corporate experience. And they have been there less than a year. The company itself has only been around for a year. They wanted $5k upfront and about 1/3 of the first year board cash compensation. Seeing everything as negotiable, I pushed for nothing upfront, with even offering to give them my first full year cash comp from a board seat. They declined. I asked if I could speak to someone they've placed with similar skills/experience as myself. They declined. I asked how many people they've placed. Declined....
I hope to have a board seat someday but I had no confidence in them.
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Being on a board does not require qualifications as you define them. It only requires connections or celebrity.
I once worked for an Inc 500 up and coming that was swallowed by a Fortune 100 and then put back out to pasture when the results were dismal. The know it all execs at that company bought it from the Fortune 100 at that point and tried to run it themselves. In order to garner recognition and legitimacy so that they could go public in the future, they went searching for board members that they thought would provide that legitimacy. As in, well known people.
They ended up with a famous, high profile person as one of their board members. He was nothing but the phony, two bit self promoter that anyone with a brain can see. And, he was pompous on top of it all, making ridiculous demands on the then struggling organization for his own and his traveling entourage's personal needs.
The company folded not long after.
As far as I am concerned, this substituting notoriety and connections for true business qualifications for board membership is one of the great weaknesses in corporate America.
I also received the same pitch, but have yet to find any client of theirs who can give a reference. So no deal.
I just got contacted by this company, went through a very brief "screening" then got the letter explaining a $5,000 retainer. Thanks for already asking about this so I could quickly see what this is about. It sounded slightly interesting, but there is no reason an executive should pay for "representation" like this.
I engaged Exec Reps about a month ago to represent me for a Board seat and have already been contacted about a board position, so far all good. Time will tell.
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I've spoken with ExecReps as well. Went through the brief screening and then got the letter explaining the retainer and commission. I am curious about it though. Was the board position one of interest to you? Was it a full board position or advisory board position? Did you accept the position?
Did you get the Board seat?
Do you think it is worthwhile?
Thx
Did anything ever come from your contact?
I was just contacted by the firm. Very nice young fellow "interviewed" me. Paying up front doesn't interest me. Did you land a Board engagement yet?
Has anyone received an answer from Anonymous regarding the Board seat and if anything ever came of it?
Have been approached by these guys, and was not able to get many positive references on them from past clients. The two I did talk with seemed like they were giving "rehearsed" answers (answers were almost identical) and the upfront fee does not seem to be justified by success. I would stay away from them.
I was also contacted within the last two weeks. No mention of an upfront fee until I had to click on a registration field asking for a credit card payment of $5k. Not the way I do business.
I've been approached by one or two of these groups. The "Consultants" are way too young to be able to understand and approach Boards on my behalf.
In addition, why would I want to pay an upfront fee? A back-end fee? Wouldn't the company want to pay that?
I agree with Wayne. I wouldn't think you would pay upfront. I can see though if they find you a board that ends up being a great fit giving them something like a finders fee.