Like many markets, this has its high times and low times. Currently we are coming off one wave and starting a new, with the result that the market is climbing. These companies receive large cash injections from the Venture Capitalist Organisations (VC’s) many of which have recently (2005) created huge new funds and are looking for investment opportunities to grow their money and deliver exceptional returns.
Many of these opportunities start off in the UK and Europe and migrate to the US, and ultimately go Global. However the majority of these companies start off in the US then come to the UK, Europe and the rest of the world.
All of these companies have a burning fuse; a time limit to be successful, ideally to go public/IPO (1st place) or find a trade sale (2nd place). It is here that the VC’s gain their return. However many fail, there simply is no 3rd place. This is a very pressurized environment and it is a make or break situation to grow fast, make huge profits and become a market leader.
It is largely down to the management and the employees to ensure success and achieve the goals on a quarter-by-quarter basis. This environment demands “Remarkable People” at every level of the organisation. They have to have the bandwidth, energy and drive to repeat what they do every year without any let up. This starts with the Executive Management Team (CXO’s and Senior Vice Presidents) and follows on right down the company. All need to have the scalability to grow with the company.
Our role is to find the people that have the skills, experience, drive and desire to excel, as well as possess the cultural personality to fit into a start-up. They must be willing to take a chance on a venture of this nature, which can often be viewed as “all or nothing”. When they score, they can hit the jackpot and everyone benefits including the VC’s, Senior Management and all the employees but it takes “Remarkable People”.
Most of the people who work in this arena are permanent. Some opportunities exist for the very best contract resource, but these tend to be limited and are generally short-term opportunities without the huge upside.