Friday, July 15, 2005
Bench Strength
One of my company's clients--a very smart, talented executive who runs a smart, talented company--recently chatted with me about the need for 'bench strength' in his management ranks in order to fuel continued growth and innovation. That's music to my ears, of course, since my company provides some of that bench strength, under contract, to media companies.
But maintaining bench strength is also a continuing challenge for any b2b media company. How do you hit your profit numbers--especially if you've got private equity backers and bankers looking over your shoulder--and maintain enough management depth to build new products and services?
That's why I was saddened to see two recent restructuring announcements from Access Intelligence (which used to be Phillips Business Information, which I used to help run). The restructurings resulted in the exit of two fine publishing executives, Brian Langille and Nancy Maynard. I've had the opportunity to work with both of them--Brian, while we were both at Advanstar, and Nancy during our heyday at Phillips Business Information, when the company tripled in size in four years.
Both Brian and Nancy will, I'm sure, land at companies where their leadership ability, creativity and drive will build revenues and profits. Or maybe they'll go out on their own, and do what we do at GRID Media. Either way, a smart b2b media company or two will benefit.
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But maintaining bench strength is also a continuing challenge for any b2b media company. How do you hit your profit numbers--especially if you've got private equity backers and bankers looking over your shoulder--and maintain enough management depth to build new products and services?
That's why I was saddened to see two recent restructuring announcements from Access Intelligence (which used to be Phillips Business Information, which I used to help run). The restructurings resulted in the exit of two fine publishing executives, Brian Langille and Nancy Maynard. I've had the opportunity to work with both of them--Brian, while we were both at Advanstar, and Nancy during our heyday at Phillips Business Information, when the company tripled in size in four years.
Both Brian and Nancy will, I'm sure, land at companies where their leadership ability, creativity and drive will build revenues and profits. Or maybe they'll go out on their own, and do what we do at GRID Media. Either way, a smart b2b media company or two will benefit.
