Family Office Sherpa Podcast Episode 26 - Hiring Your Chief of Getting Stuff Done

In the latest episode I highlight an important hire of the office - the Chief of Getting Stuff Done.

Obviously not a formal title, this person:

• Moving projects along

• Not strategic focus, deals with implementation

• Cut across multiple areas - the Expert Generalist

• Leaner offices tend to bring people over from the operating business.

• They know how to work with the principals.

• The person we delegate to first once the strategic decision has been made.

• Doesn't manage by committee, doesn't have to meet on everything

• Understands the purpose and acts accordingly

• Curious and wants responsibility

• Knows how to knit together the "scaffolding"

• They have to be responsive to communications/questions

• Consistent in messaging and actions

• Can have hard conversations and make hard decisions.

• A good memory for conversations, needs, ideas etc.

Can it be done on a "fractional" basis? Yes:

• But it can't mean there are spaces of unavailability

• Embedded in the office - you can't be a bottleneck

• Hall Road is an example of this, and why I moved focus to retainer work from projects.

• The model needs to be free from conflict

• It can be cost effective to have someone's day rate vs full time salary

• Get your list and allocate them to this person.

If you're looking at the current set up and seeing a lack of accountability and implementation of strategy, you made need this "General Manager".

You can listen on Apple, Spotify, YouTube or wherever you get yours.

For more insights into family offices and their investments, operations and technology, subscribe to the Sherpa newsletter at:  hallroad.com.au.

Cheers

Shaun.

“Hall Road Investments Pty Ltd is a Corporate Authorised Representative (CAR No. 001279456) of Non Correlated Capital Pty Ltd (AFSL No. 499882). Shaun Parkin is an Authorised Representative (AR No 001279458) of Hall Road Investments Pty Ltd (CAR No. 001279456) and is authorised to provide general advice to wholesale investors”