The promise of the new year lies ahead. One way to help ensure that it will be a profitable one is to re-evaluate your company’s pricing strategy. We recommend devising an approach that...Read more »
Why I Joined The Fahrenheit Group. And, What Makes this Firm so Different…
As I launch the Carolinas practice for The Fahrenheit Group, I have received many congratulatory emails, which have included a common question, “why did you join The Fahrenheit Group?” So, I thought I’d take this opportunity to share my answer to that question – and the principles that guided my career decision.
Some people believe there are no chance meetings in life and everything happens for a reason. Whether by chance or not, a little over a year ago, a network contact in the Research Triangle Park area introduced me to The Fahrenheit Group’s co-founders. From that meeting, I began a professional career path exploratory journey that uncovered many facets that made Fahrenheit very attractive over other opportunities, as well as other similar organizations.
What piqued my interest was how much Fahrenheit differed from similar organizations. The firm has a strong business model; a team of experienced, dedicated C-suite executives and consultants on-board; a practice in multiple markets (including a physical location in each of its markets); a wide-ranging professional referral network; experience across multiple industries; and most critically, a culture which lived the co-founder’s founding principles.
Now, though some may call it “revisionist history,” I like to think of it as “bringing clarity and thoughtful reflection to a journey at a journey’s end.” When visiting our Richmond office in October, I attended an event at the University of Richmond’s Robin’s School of Business, at which Google’s former CFO, Patrick Pichette, spoke. His advice, which was directed at b-school students embarking on their career, (but is applicable to all who are making career moves) was to select an opportunity based on three criterion, in this order of priority:
- The People
- The Industry
- The Position
As I looked back on my past year of meeting notes, due diligence calls, reference checks, etc. that I had collected in evaluating Fahrenheit’s opportunity, I could easily categorize my questions into these three compartments, and when my findings were held up to my personal litmus test, Fahrenheit passed with straight A’s.
To get a measure of the people, naturally talk to as many as possible, but prior to doing so, make sure you know the company’s stated core values – or in Fahrenheit’s case its founding principles. All companies can say their employees “live our core values,” but do employees say they “live the company’s core values?” This will give you a strong indicator of whether or not what’s important to you is important to the employees, and help you to determine if you fit in with the people and culture. Take a look at the management teams’ LinkedIn summaries, resumes, or website biographies. Do the management team members use the core values to describe themselves, their work, their accomplishments, etc.? If so, maybe they do “live the core values.” If not?
At Fahrenheit, the “Founding Principles” are prominently displayed throughout each office. And as I learned more about the Principles, I realized these all align perfectly with my personal principles. In my desk research, observations, and interactions, I can say Fahrenheit lives its Founding Principles. Perhaps your monthly company meeting begins with a co-founder asking, “who wants to give a “shout-out” to a team member they have observed practicing a Founding Principle?” Fahrenheit’s does.
Within the emerging growth and small-to-middle-market there is tremendous opportunity for companies to grow and, therefore, there becomes the need to efficiently and effectively address the timing and building of the infrastructure to support the growth. Over time, the provision of variable resources within accounting, finance, and human resource functions to support the building of this infrastructure has moved along the continuum of hourly, part-time, fractional, and interim. Today, Fahrenheit provides these professionals within a structure more in-line with an outsourcing services business model – providing consultancy, program execution, program management, embedded resources, and recruitment – as leveraged solution-sets rather than one-off resources – which positions it well to successfully compete in the evolving shared-economy ecosystem.
During my time at one of the world’s largest pharmaceutical outsourcing services firms, I learned many lessons about building and growing an outsourcing services business. Now, I want to take those lessons I learned and share them with Fahrenheit and to grow its presence in the Research Triangle Park area, and ultimately throughout North Carolina and South Carolina.
Fahrenheit’s business opportunity addresses an unmet customer need within our initial Carolinas market – the Research Triangle Park area. I have been given both the opportunity and the responsibility, as Managing Partner, of launching and building The Fahrenheit Group throughout RTP, and as all progresses – North Carolina and South Carolina.
So, perhaps the professional career path exploratory journey is just beginning?
Vincent T. “Vince” Morgus has 20+ years of Corporate Finance and Corporate Development experience and joins The Fahrenheit Group as the Managing Partner of our Carolinas practice. Vince has held roles in the United States and abroad, with demonstrated accomplishments in financial planning, forecasting and analysis, strategy development, management and execution, capital markets transactions and alliances, partnerships, and mergers and acquisitions. “The Carolinas” practice will extend Fahrenheit’s work with emerging-growth and small-to-middle market companies into the Southeast. Vince will be responsible for establishing and building Fahrenheit’s practice in North and South Carolina, initially focusing on the Research Triangle Park-area.
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