After Pinpoint concluded that CEO Tony Blake had exaggerated his experience, the two parted ways. Here's what Pinpoint learned from the experience:
LET THE HEADHUNTERS FINISH
Once recruiter Christian & Timbers had identified six candidates, Pinpoint's board took over talks with Blake, its top pick. The recruiters say they didn't get a chance to check references.
Pinpoint assumed that since Blake was in Christian & Timbers' database, the firm knew him well. It didn't. What's more, surveys show that as many as one-third of job candidates embellish their resumes.
Pinpoint's board accelerated its search to improve its chances of raising venture money and hired Blake shortly after first meeting him. Headhunters say it doesn't pay to rush on the top job.