Updated: Aug 7, 2019
Type 1. Lusts for acknowledgement of innovation, leadership and that all absorbing word - genius. Type 2. is what this post is about, the 'Rainmakers'.
I know first hand the suffering that comes with the need for acknowledgement and the desire to become the first or the best at something. However throughout my journey I have been able to meet other entrepreneurs that seem to have a different drive.
A drive to create value and extract money out of that value.
Type 2. 'The Rainmaker' sits on the same end of the spectrum as Type 1. The 'spectrum' in this instance portrayed with the left side as people who can 'smoke ciggies and watch the grass grow' and the right side as the 'Elon Musk, don't sleep type'.
Describing the Type 2.
Anthony Pratt. Actually to be honest I don't know anything about him except he founded Visy the cardboard company and is the richest person in Australia. What I do know is that a Type 1 would rather neck themselves than turn up and flog cardboard everyday, so that makes him a Type 2.
Type 2's do the small things right, and often. They make the 1%'ers count and stack up - for the long term.
They let their bank account do the talking. What is important here, is that the bank account doesn't represent the future value of the 'next big thing' or the post-money valuation of their incredible technology business, it represents opportunity and hard-work paid out daily.
Cash is king.
Why you should hire the Type 2.
You know how you hire someone (for pretty much any role) and then you have to teach them all of the systems you use, the best practice of 'inbound marketing' (for example), help them create the first set of posts, review them, change them and then ensure they are distributed correctly? Seems like you've done it all yourself, while dragging someone along with you.
Best case is - after that first run-through, they can do it on their own and improve - but that's rare.
Here's where Type 2's come in. A Type 2 has already done all of this before for their own venture, so they know what to do. All you are doing is literally giving them the KPI, making sure any key rules or guidelines are set and then reviewing the final work before it get's shipped.
T2's will listen intently to what you say and how you do it, challenge you and themselves and improve the entire process so that the next time the outcome is even better.
Here's the challenge ( if you consider it a challenge) - They will finish the work you give them, quickly and well - so you either need to create an enormous stack of things for them to get through - or - you can give them overarching KPI's and decision making guidelines and let them go ham.
Where to find the Type 2.
Where they should have come from.
A T2 should have already built and sold, or failed with something substantial (doesn't matter how many times). The reason is, if they have built something previously - they have already done and experimented with most of the things you will want them to do.
An example of a type 2 that has just taken a role with an organisation I know.
This organisation needed someone that could basically take on an entire equity crowd-funding campaign;
- Find the equity crowdfunding parter
- Build the IM end-to-end
- Promote it
- Run and organise the community events
- Follow up all of the commitments
This person ran 100 hour weeks for 3 months and successfully completed the full campaign, solo. It would be impossible to find someone with this diversity of skillsets and drive to complete a campaign like this unless they were one of the founders or a T2.
What you should offer a Type 2.
Freedom - work their own ours, work towards outcomes not tasks, no micro-management
Cash - on their own (consulting etc.) they could likely do $200k/pa
Upside - no upside, no extra work
Why do they want to work for you?
The entrepreneurial journey is a rough ride and often on the back of failed ventures, entrepreneurs are left with a hangover of-sorts. Most of us need a break from the risk and the 24/7 looming pressure - so some safety with freedom is a great tide.
Where do you find one?
Look at the Fin review or Courier Mail for stories of business failures?
Don't be afraid of hiring entrepreneurs, just make sure you understand their situation and current mindset. They will get itchy feet again. So make the most of them for the 2 years you can have them for and then go find the next Rainmaker.
*P.s all of my posts are first drafts, my researcher will buff them out - so make sure to write in and ask for extensions or explanations if you are interested.