In this episode, Nick Olsen interviews Scott Bushkie, the founder of Cornerstone International Alliance, about what makes a good M&A advisor and the importance of hiring the right people. Scott shares his experience of starting Cornerstone and the challenges he faced in hiring the right team. He emphasizes the importance of building trust with clients and having a team with the right mindset and skillsets. Scott also discusses the benefits of using behavioral science in the hiring process and how it has helped his firm. Overall, the conversation highlights the significance of hiring the right advisors and the impact it can have on the success of an M&A practice. In this conversation, Scott Bushkie and Nick Olsen discuss the importance of hiring the right team and building a strong infrastructure in the M&A industry.
They emphasize the need for a team of experts who can handle different aspects of the business, allowing for a better quality of life and more efficient processes. They also highlight the importance of focusing on what you do best and delegating other tasks to team members who excel in those areas. Scott shares his experience of building a successful team at Cornerstone Business Services and the impact it has had on his own role within the company. They also discuss the benefits of being part of a network like the Cornerstone International Alliance (CIA) and the value of collaboration and knowledge sharing among industry professionals.
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Some Key takeaways include:
- Hiring the right M&A advisors is crucial for the success of an M&A practice.
- Building trust and rapport with clients is essential in the M&A industry.
- Having a team with the right mindset, skillsets, and values is important for success.
- Using behavioral science in the hiring process can improve the chances of hiring the right advisors. Hiring the right team and building a strong infrastructure is crucial in the M&A industry.
- Delegating tasks to team members who excel in those areas allows for better quality of life and more efficient processes.
- Focusing on what you do best and hiring experts in other areas leads to better outcomes.
- Being part of a network like the Cornerstone International Alliance (CIA) provides opportunities for collaboration and knowledge sharing.
About the show:
The M&A Mastermind Podcast is your go-to source for the latest industry trends and strategies to level up your M&A practice.
The show features thought leaders who specialize in the lower middle market space and share their experiences and expertise across key areas of execution, such as: market analysis, lead generation, deal management, strategic partnerships, buyer access and much more.
With host Nick Olsen, each episode's "mastermind" will share ways in which they have found success in navigating the M&A industry to best support the small-to-medium sized private business owners they focus on serving.
Chapters
00:00 Introduction
03:06 Building Trust and Rapport in the M&A Industry
05:28 The Role of Mindset and Skillsets in M&A
07:46 Using Behavioral Science in the Hiring Process
15:01 Implications of Not Hiring the Right Fit
18:14 Transitioning to a Structured Hiring Process
20:04 Current Firm Structure and Roles
22:52 The Importance of Hiring the Right Team
24:47 Quality of Life and Overcommitment
29:02 Building a Strong Infrastructure
35:04 The Benefits of Collaboration
38:43 Advice for M&A Firm Owners
Keywords: M&A advisor, hiring, team building, trust, behavioral science, M&A, team building, infrastructure, quality of life, efficiency, delegation, expertise, Cornerstone Business Services, Cornerstone International Alliance, collaboration, knowledge sharing
