2003 Year Business Report

As you know, I started JWF Advisors in June of 2002 to provide career advisory services. It is most gratifying that the identified niche of a highly discrete and individualized service for successful executives has proven fertile and timely. After my twenty-three year tenure at Russell Reynolds Associates, opening and running the Washington office for most of that time, it was also reassuring to find success in starting a different but related career, again building something from scratch. Performance in 2003 significantly exceeded my expectations.

Because of the confidential nature of the work, it may be best to summarize the first eighteen months’ work of JWF Advisors with anonymous case studies. At this writing, the business is growing dramatically and taking on clearer definition. But my initial characterization of the need, in the phrase “there is no one to talk to”, is at the very center of the strategy.

• One client who had successfully run one multi-billion public company and transformed two others sought my counsel after deciding to reengage as a CEO. Because he had never before in his career sought a position, the work included clarifying his message, identifying his target and presentation, and making introductions to a selected group of board members. Basic techniques of networking were examined, and in his case I eventually counseled that he broaden his initial target, which he had set too narrowly. He presently has an offer from an organization not included in his initial strategy.
• Another client, CEO of a very successful non-profit enterprise, was having difficulty with his board of directors. After a careful examination of the source and causes of the conflict, he decided to leave the organization, become a consultant to them, and start his own business. In this case, a confidential advisor with whom to discuss and analyze very complex and painful frustrations was crucial.
• Having lost his position, a COO asked his company to support his work with JWF Advisors. It became clear that he had no idea what had caused the problem. My careful review of references at his former firm revealed some important communication lapses on both sides. In his newly acquired position in a new firm, he takes some crucial feedback by which to measure and gauge his future communication style and effectiveness. He also was careful to select a group of people in his present employer with whom he was confident his style of communication would be effective.
• A most effective leader was approached to be a candidate for CEO of a major national organization. She knew a lot about the job and situation because of her past work experience. She had had direct contact with the organization in her past work. She too had never been an “applicant” for a senior job before. We worked together to collect information about her strengths and weaknesses as pertained to the position and conducted and filmed mock interviews to simulate meetings with the search committee. The key ingredient was for her to see herself objectively in the competitive search process and to send a consistent message about herself.
• Another individual sought me out after having serious reservations about whether he wished to continue his successful career in a professional services arena. He had periodically considered leaving, but always decided that the money and prestige of his position were too much to give up. We worked together to assess objectively the quality of his present situation. He had had some symptoms of depression for which he was receiving treatment. After receiving an informal offer from a competing firm in his present field, he concluded that, while entertaining that opportunity, he would also assess starting his own business or completely changing fields.
• Working with a mid-career professional, a lawyer, I have utilized several exercises designed to identify themes that characterize the person’s life. The individual has become aware of an entrepreneurial venture that she finds very appealing. She is also in the “perfect job” at present, but for a heavy administrative aspect. She is torn between the job for which she spent most of her life preparing on the one hand, and an exciting and unexpected opportunity on the other. We assessed the costs and benefits of each alternative, and she is presently pursuing the entrepreneurial opportunity while remaining employed.
• Finally, a founder and CEO of a publicly-traded billion dollar business has turned the business over to a succession management team. He is in the process of constructing a portfolio of activities. His issue is that he is well known and is often asked to help other CEOs with various matters, often as a member of their board. He is attempting to prioritize his own interests in order to make good decisions about which opportunities to pursue. He wants these choices to align with the way he wants to spend the next twenty years of his career. This is hard work for a person who enjoys being in high demand.

These are but a few of the dozens of interesting journeys on which my clients are embarked. I am struck by several things, none of them surprising.

1. Each person and situation is entirely different, and it is hard to imagine a way of developing a uniform “prescription” approach to my services.
2. Each has expressed high levels of satisfaction of having candid feedback delivered by someone familiar with the job market. Feedback in most organizations, and in life, is sparse at best. They also uniformly appreciate a confidential setting in which to analyze their situation.
3. The constricted condition of the senior job market has created unusual pressure for people out of work to find positions. This can be a distraction in doing career work. We have responded by making as many personal introductions as appropriate. We do not charge a placement fee.
4. It is imperative for me to pick my clients carefully. I cannot be helpful in every type of situation, and conversely can have strong impact in cases like those listed above. The criteria for selection become clearer with time.
5. Overall, I feel we have had a great deal of success with our clients. The effort and commitment of the individual, including commitments of time and financial resources, have been the critical variables. Suffice it to say that everyone who has given our relationship high priority has benefited significantly.

It has been very exciting to embark on this new chapter of my own career. I have found the work stimulating, challenging, and engaging. Thank you for your support and encouragement.