As executive recruiters, we often get asked about executive compensation.

So often—after we finish up a search—we aggregate the compensation data we’ve collected across the search, and share it back with the innovation community. In this case, we recently finished a VP Sales  search for a profitable SaaS software client located here in the Northeast  in November, 2011.

Here is the snapshot of compensation highlights from our search—

The footnote at the bottom of the image above articulates the following criteria for the majority of companies in this data set:

There are many variables to consider that influence where to pinpoint one’s own compensation vis-a-vis the above:

As executive recruiters, we often get asked about executive compensation.

So often—after we finish up a search—we aggregate the compensation data we’ve collected across the search, and share it back with the innovation community. In this case, we recently finished a CFO  search for a profitable SaaS software client located here in New England in September, 2011.

Here is the snapshot of compensation from our search—

The footnote at the bottom of the image above articulates the following criteria for the majority of companies in this data set:

There are many variables to consider that influence where to pinpoint one’s own compensation vis-a-vis the above:

How & What Growth-stage CEOs Are Ending 2011 & Planning for 2012

Below is the hyperlink to take the Q4 CEO peers speed-survey, exclusively for growth-stage CEOs. This survey focuses on “How & What Growth-stage CEOs are Ending 2011 & Planning for 2012″

This shouldn’t take more than 5 minutes of a busy CEO’s time–

We here at BSG Team Ventures periodically take the temperature of the markets we serve. The survey is no more than 15 questions, most simple multiple-choice.

These surveys are created and compiled by BSG Team Ventures as a courtesy to our executive ecosystem with the belief that knowledge is power. Aggregated peer-provided knowledge is “actionable power.”

To compare how you’re feeling a year later with the survey results from Q4 2010, titled “CEOs Plan for 2011”, go to http://www.bostonsearchgroup.com/blog/q4-2010-ceo-survey-of-growth-stage-companies/

We make an effort to survey only those who fit the category (in this case, sitting CEOs or board member/founders of technology/science-driven growth-stage companies). [Note, if you don't fit the aforementioned description, please refrain from responding.]

Feel free to forward to the qualified CEOs in your sphere of influence. The more data generated, the more accurate the trend lines.

All responses are anonymous due to the web-based survey technology employed.

We will forward the survey results within the next two weeks to the email address on file. Please let us know if there is another email address you wish us to send the results to as well.

The Company

Securing Business

The Company is one of the largest global providers of IT-security solutions and IT-Services with a focus on consulting, implementation and services.

The Company has offices in 8 countries – UK, Germany, USA, France, Switzerland, Austria, United Arab Emirates and Singapore with around 500 employees. The Company has more than 3,500 blue-chip customers and a range of government agencies.

Offerings include:

• Consulting in all aspects of IT-Security

• Continuous development of a holistic IT-Security Service Portfolio via our Managed Security Service Center and Call Center

• Close relationship with the key product vendors

• Holistic portfolio of IT-Security Solutions and Products

The Position

As a key member of the Americas executive team, the VP Sales will be the primary owner and driver of revenues for the Company, responsible for selling Managed and Professional Services (MAPS) solutions keying off of its core overlapping areas of service excellence:

o Data Protection

o Mobility

o Threats & Vulnerabilities

o Risk & Compliance (GRC)

o Cloud (securing the cloud)

The VP Sales will be part of the senior operating team for the Americas with principal responsibilities including:

• Exceed quarterly and annual revenue targets

• Develop & execute strategic sales and distribution plan: provide strategic and tactical thinking, as well as broad business insight. Take a leadership role in developing the sales strategy to support the growth of the business, while continuing to drive gross margins, quarterly bookings goals, and other KPIs

• Peer with the Professional Services team on client prospecting, engagement, and delivery

• Divisional revenue ownership

• Sales team-building

• Sales leadership and sales pipeline management

• Develop and managing detailed budgeting & forecasting

• Lead the management, maintenance & development of key partnerships in upstream indirect sales channels

• Foster teamwork and create a positive work environment for a geographically disparate sales force

• Lead and develop a dynamic and creative sales infrastructure that fits the needs of the business and the products the Company provides to its customers

• Drive internal discussion about strategies, ideas, new opportunities and the best methods for achieving success in a changing marketplace

• Consult with customers on their needs and provide feedback to other departments supporting sales efforts

• Forecast, track and report sales performance using internal tools and applications such as Salesforce.com

• Conduct internal pipeline meetings and reviews with the executive team

• Manage overall budget associated with sales plan

• Lead team in structuring strategic and integrated partnerships with key customers

• Personally assist in closing large deals and managing strategic accounts

• Travel as needed to ensure that sales and client needs are met and exceeded

Ideal Candidate Profile

The diagram below illustrates a comprehensive intersection of competencies critical in the VP Sales position:

Team

Reporting to the President of the Americas, the VP Sales currently manages and leads a sales team of 11.

Compensation

Compensation is competitive with the position’s requirements. In a performance-based environment, this will include base salary and incentive bonus structure based on both individual and company milestones.

The Company

Creating Privacy in the Workplace via Technology

Our client is a pioneer in sound masking, paging and music engineered systems. Their products  feature cutting-edge distributed audio technology for the workplace that combines extraordinary audio performance, low impact installation and affordability. Their systems are deployed in millions of square feet of workspace while supporting normal acoustical privacy in open plan spaces and confidential speech privacy in private offices.

The company is headquartered  in the Northeast United States.

The Position

As heir apparent and key member of the management team, the Chief Operating Officer will partner with the CEO on strategy, sales & marketing as well as all decision-making issues affecting the organization Key to the role is an ability to bring prior experience and success in building and growing multiple distribution channels, scaling teams and organizations from 25 to 50+, and expanding domestic and international partners and customers.

Ideal Candidate Profile

The diagram below illustrates a comprehensive intersection of competencies critical in the COO position:

The COO’s core responsibilities will include the following—

Strategy, & Product Marketing Direction:

Collaborating with the CEO to establish a short and long-term business direction that drives the company to become an industry leader and maximize the penetration of the markets served. The COO will bear primary responsibility for refining and carrying out The Company’s strategy. This will include such activities as monitoring The Company’s current markets and its standing within them; assessing current and potential competitive activity; and evaluating opportunities for growth (new but related products, entirely new initiatives which leverage the Company’s relationships, intellectual property and intellectual capital, possible acquisitions, etc.).

Marketing:

Ensuring close symbiotic relationship between product development and customer market needs, creating demonstrable competitive differentiation and performance benefits of CSM products vis-à-vis industry competitors.

Sales & Business Development Leadership:

Setting the approach to commercialization, including direct sales, distributor agreements, and independent representative networks. First and foremost, the COO will play a hands-on role in building The Company by acting as its most-senior business generator and evangelist. He or she must understand both The Company’s capabilities and the market’s needs, and combine those understandings to identify and pursue specific new opportunities.

Engineering, Manufacturing & Operations:

To a lesser extent the COO will share oversight of engineering, manufacturing and production teams responsible for product development, production, establishing build/buy/outsource decisions, quality control etc.

Staff— team building, development, mentorship:

The COO is responsible for human capital planning and hiring. As important, the position will actively be responsible for developing new and existing staff to help prepare them for company growth and increased leadership responsibilities at all levels. Finally, the new COO will serve as leader and mentor to the founding team and as a complement to their existing skills. He or she will do this through personal interactions with colleagues, as well as by maintaining management practices which reinforce a positive internal culture and help the company establish a reputation as a rewarding place to build a career. This individual will be expected to set high standards and hold people accountable, and to create an environment in which people work cooperatively and focus on building the long-term value of the enterprise. When management slots open up, the COO must be able to hire executives who can make significant contributions, not only as individuals but by building effective teams in their own areas of the business; he or she will also have to upgrade the organization when necessary by replacing underperformers with strong new recruits.

Investors/shareholders & board — milestone management, any follow-on fundraising, and liquidity strategy: Along with the CEO, the new COO is co-liaison to the board and will aggressively manage milestone deliverables, be a key leader at board meetings and to board/investor communications. The COO will be responsible for developing and managing against an annual operating plan and in addition to possible follow-on fundraising, will be accountable for optimizing the harvest for all shareholders. This includes continuous improvement of operational efficiency and effectiveness by assessing, upgrading or installing new operational systems, processes and methodologies. In addition, the COO will continually review activity reports and financial statements to determine progress and status in attaining objectives and revise tactics in accordance with current conditions. Combining these, the COO will execute and achieve annual growth targets while gaining increased leverage on costs and operating expenses.

STAGE:

Key background & successful experience with company growth stage includes—

• Board/investor communication and management

• VP level hiring across the organizational spectrum

• Growing sales from `$5M to >$50M

• Industry partner mapping for growth and harvest

• M&A negotiation experience

INTERNATIONAL:

Previous exposure to international business, in particular international dealer and distribution channels is beneficial. This includes the ability to work effectively in other parts of the world, and an appreciation for the ways in which cultures and business practices differ from country to country.

EDUCATION:

Undergraduate degree required, with preference for mechanical or electrical engineering, MBA or other advanced degree a plus.

GENERAL:

Finally, this individual should have as many as possible of the traits required to succeed in any CEO position:

• High levels of intelligence, analytical strength and conceptual ability.

• The ability, and willingness, to set and communicate demanding standards for professional staff and to hold people accountable for their performance; at the same time, sensitivity to, and insight into, individuals’ capabilities and development needs.

• Decisiveness when necessary, coupled with a willingness to seek input and build consensus as much as possible.

• Unquestioned honesty and integrity; also, loyalty to colleagues and to the organization, and the ability to inspire loyalty. This person should have the ability to identify and focus on The Company’s best interests, rather than the agenda of any individual or group within the Firm.

• A very high level of energy and commitment, combined with enthusiasm and a positive attitude.

• Excellent writing and speaking skills; this individual must be able to communicate complex ideas and information clearly and concisely.

• Outstanding planning and organization skills.

• Good strategic instincts and long-term vision; the ability to address both big-picture issues and detailed, day-to-day management concerns.

• In general, the business and personal skills, and the absolute commitment, required to make a major contribution to The Company during the coming years.

Team

Reporting to the CEO, the COO shares the responsibility for sales, marketing, operations, product and finance. Total employee base is approximately 25 and growing.

Financial Backing & Budget

The Company is profitable and growing at a 30%+ annual rate.  Seed and growth capital has been provided by one strategic partner in a joint-venture structure.  No other outside investment capital has been required.

Compensation

Compensation is competitive with the position’s requirements. In a performance-based environment, this will include base salary, incentive bonus structure based on both individual and company milestones, and a stakeholder position in the company.

Our client provides a leading Direct-to-Consumer (D2C) campaign and order management platform that serves the unique needs of Direct Response and eCommerce businesses with Web-based technology (SaaS).

As a key member of the management team, the CFO will provide strategic financial input and leadership on decision-making issues affecting the organization by the development of sophisticated financial planning, budgeting and forecasting models for operating and capital purposes, product/service profitability and contribution analyses and special project analyses as needed.  Key to the role is an ability to bring a strategic level of leadership to the finance function, serving as financial strategist while managing the day-to-day requirements of the finance, legal & HR departments.

The CFO will be part of the senior operating team with principal responsibilities including:

**********

Ideal Candidate Profile

The diagram below illustrates a comprehensive intersection of competencies critical in the CFO position:

Team

Reporting to the CEO, the CFO shares the responsibility for communication with the board.  Reporting currently to the CFO are an accounting manager and a contracts manager. Total employee base is approximately 25 and growing.

Compensation

Compensation is competitive with the position’s requirements.  In a performance-based environment, this will include base salary, incentive bonus structure based on both individual and company milestones, and a stakeholder position in the company.

Energy Efficiency Systems for Residency Intensive Buildings

“Efficiency is the First Fuel”

Our client develops, manufactures, and sells energy efficiency and smart grid networking technology products and platforms in the United States and Canada. Its powerline communications technology.

The Position

The Vice President of Sales for the Smart Energy division will report to the CEO, and be responsible for all revenue generating activities within the division.

Essential Responsibilities

• - Divisional revenue ownership
• - Sales team-building
• - Sales & marketing strategy (sales, marketing, operations)
• - Sales leadership and sales pipeline management
• - Developing and managing detailed budgeting & forecasting
• - Developing sales and distribution plan
• - Developing partnerships in upstream indirect sales channels
• …

Ideal Candidate Profile

The diagram below illustrates the intersection of competencies critical in the VP Sales position:

Compensation

Compensation is competitive with the position’s requirements.  In a performance-based environment, this will include base salary, incentive bonus structure based on both individual, department, and corporate qualitative and quantitative MBOs, and a stakeholder position in the company.

“]

Rob Day, Black Coral Capital | Michael Balmuth, Edison Ventures | Alexis Borisy, Third Rock Ventures

Once or twice a year we as a firm gather CEOs from the Boston innovation ecosystem to share thoughts amongst themselves.  Often, the format is lubricated by a panel to kick things off.  Always, the format is lubricated by an open bar and dinner.

 This Fall’s CEO gathering in early November brought together 50 or so CEOs around the topic of planning for 2011, and what to expect as a CEO. 

Whether early-stage venture, or mid-stage growth, investors are adopting a different approach to what they are looking for, how much they are putting to work, and what they expect to see as an end result.  This is proving true not just in the tech sector, but cleantech, medical device, and biotech.

 If CEOs are looking for more investment, whether growth equity, seed capital, or something in between, what are the “new normals” to think about going into 2011.  And if CEOs aren’t looking for money, but looking for exits, what are the expectations of investors in 2011 and beyond? 

 We assembled a panel of venture capital investors who all had raised new funds in the last year or so.  These investors also represented a different flavor than traditional venture capital.

 On the panel? 

• Michael Balmuth, General Partner, Edison Venture Fund
• Alexis Borisy, Partner, Third Rock Ventures
• Rob Day, Partner, Black Coral Capital

 What were the “new normals” CEOs and VCs talked about?

 Here are a few that got some air time:

2011 is likely to be an economic “ground hog year.”  The current economic cycle of “flat is the new up” is here to stay for the medium term;  In taking a flash vote of the room, the overwhelming majority felt that the economic conditions in which companies are being created are not going to change for the better any time soon.  Simply turning the calendar over from 2010 to 2011 is not likely to yield a more fertile or forgiving economic climate in which to grow innovation-stage companies.  In our recent survey  of growth-stage CEOsfor Q4 2010, we noted in a prior blog post that the vast majority of CEOs had already shifted their strategies or were planning to in the near future as a direct result of an expectation that 2011 might look a lot more like the end of 2009 or 2010 than ‘07 [see CEO survey pie chart below]

Seed rounds are becoming pervasive compared to prior quarters.  And these aren’t for Web 2.0 companies only.  CB Insights in their Q3 2010 summary demonstrated that this is a trend that is occurring in cleantech / greentech as well as healthcare IT.  All 3 investors on the panel agreed that seed funding makes sense.  Alexis Borisy, Partner at Third Rock Ventures, talked about their approach to seeding, saying that they tend to help start the companies, not just fund them, often taking an interim role on the executive team to incubate to a point of value inflection.  Michael Balmuth mentioned that although Edison Ventures doesn’t do “seed stage investing” per se, he loves to see companies that get seed rounds, as it often is an effort to drive toward profitability faster.  At that point, Edison may be more interested in a seed-funded company that achieves an early positive cash flow position than a typical heavily syndicated, multi-series venture-backed portfolio company.  Black Coral’s Rob Day added that he felt that investing in capital-efficient companies, even in the cleantech sector, was something he has advocated for a long time.  [see CB Insights graph of growth in seed round funding over last 5 trailing quarters, 2009-2010]

• As an asset class, venture funds have lost money for a while now.  Limited partner investors in venture capital and even private equity believe that they still have to invest in this asset class because it does make money during economic or industry sector bubble periods, and to invest once a bubble has been established would mean missing the upside.  During other times, LPs try their best to pick the funds that outperform their peers.

• Using investment banks to raise equity capital  should be done selectively.  If the industry is a small one, and the network is well established (like biotech investing Alexis pointed out), using an i-bank at an early stage is not the best idea.  However, in the cleantech sector where there are more total number of investors, they are internationally distributed, the industry is younger and less well-networked, and there is an imbalance in demand-supply (more money chasing fewer good deals), the investment banking solution may be just the right one.  One CEO, Larry Letteney of Second Wind in the cleantech sector, shared just such a recent positive experience in going out for their next round. 

• Seek out funds that have real capital to invest, preferably “fresh.”  Each of the three funds represented on the panel had all raised funds in the last twelve months or so.  But there are a lot of funds that are at the end of their last fund.  Many are unlikely to raise another fund.  Many investors are taking meetings, but setting the bar exceedingly high because they have only an investment or two left, and they don’t want to get caught making a bad one given the challenge in delivering returns to LPs in the most recent investing vintages.  There was also a “beware” comment about funds who are making seed round investments at the end of their funds.  They are more likely to do so, as it is an easier story to message an investment mulligan to LPs if you can just say, “It was just a small seed investment, so no biggie.”  Caution was also expressed that an investor at the end of a fund making a seed investment will be less likely to have additional capital to invest even if the company is doing well.

We hope to post a video snippet of the the VC-CEO dialogue for a flavor of the evening’s conversation in the near future.

Each quarter we survey growth stage CEOs who are running innovation driven companies.  This quarter,  we had more than 60 CEOs responding.  CEOs were running companies in broadly defined technology (software, hardware, semiconductor, telecom), Internet (e-commerce, media, social, entertainment), medical devices, biotech, and cleantech / renewable energy sectors.

A note on methodology.  We send these surveys only to those who fit the category (in this case, sitting CEOs or board member/founders of technology/science-driven growth-stage companies).    All responses were anonymous due to the web-based survey technology employed. The majority of respondents were in the United States, with the highest concentration on the East and West coasts (New York, Boston, and San Francisco/Silicon Valley areas).

For prior survey results from Q2 2010, titled “Impact of Economy and Renewed Growth”, go to http://www.bostonsearchgroup.com/blog/ceo-survey-results-q2-2010-%e2%80%93-impact-of-economy-renewed-growth/ .

ECONOMIC CLIMATE

The first set of questions was around the economic conditions in which each CEO felt s/he was operating.    One question we continue to ask and re-ask over the last six quarters or so targets the turbulence in the macro- economic climate.  It is interesting to compare CEO responses to the same question, “Do you anticipate a double dip in the near term future?”

* In Q3 2009, more than half  (54%) of CEOs polled were expecting a double dip, and planning accordingly

* In our Q2 2010 survey,  again 50% felt a second economic correction was likely, the biggest percentage of those CEOs believing it would be in either Q3 2010 or sometime in 2011.  The other half  of CEOs felt the specter of recession was behind them

* Currently in Q4 CEOs were consistent with prior quarters with a bit more than 50% indicating they didn’t feel a double dip was likely, and the other half of the CEOs saying either a 50/50 probability or greater (16% feeling more likely than not)

So less than 1 in 5 CEOs feel another economic dip is likely.  No CEOs selected the ” greater than 75%” probability.

It’s interesting to do a meta graph of the changing CEO sentiment on this question.  Surprisingly, the graph would be sloping downward, but not as much as many would hope.  The high point was certainly back in Q3 2009, but even throughout 2010, as many CEOs were fearful of a negative correction as those who felt it was behind us.  No doubt this “lack of confidence” index doesn’t inspire the CEO with a swashbuckling, damn-the-torpedoes-full-speed-ahead attitude toward growing their companies.  Rather, it makes CEOs think in short-term windows, perhaps 3 months at a time, with little appetite to make medium or long-term bets.

Those CEOs who felt another downturn was likey referenced several factors that might tip the scales negative–  gridlock in Congress due to midterm elections and likelihood that Democrats lose congressional majority, a belief that a bad Q4 holiday retail shopping was likely, and the persistent overhang of ongoing commercial and residential loan defaults.

As for when another economic dip might occur if it were to occur, the vast majority of CEOs pointed to Q1, 2011, with Q4 of this year and Q2 2011 tying for second at 18% each.

STRATEGY

Almost 50% of CEOs polled said that they had either made a shift in strategy in 2010, or were planning to in the near future.  Granted, growth-stage companies are prone to shifting strategy until they land upon the best formula for significant and sustainable growth.  However ~50% is a big number, and clearly a chunk of those companies have been driven to rethink their strategies because of the challenging economic climate, the concern over the future, and the possibility that 2010 might represent “the new normal” where with no economic “rising tide” no help generated to float all company boats as in periods of economic expansion in the past (1997-2000, 2005-2008, etc).

CASH FLOW

The majority of CEO survey respondents (49%) indicated that they were still planning on burning cash over the next 2 quarters.  24% indicated they would be profitable.  CEO comments regarding this question indicated an overwhelming drive toward cash flow break even.  That was the big push and focus for their companies in 2010, and if they hadn’t achieved it yet, they were gunning to by end of the first quarter of 2011.  CEOs also commented that they were trying to run their companies at break even, with any extra EBIT being reinvested back into the company for additional growth.

COST REDUCTION PLANS

When asked what were the top 3 areas CEOs were targeting for cost reduction, the following table summarizes their responses, representing a combination of spend reduction and staff reduction in non-core areas.  There was a preference by CEOs to favor non-staff cuts over cutting headcount if at all possible, but many acknowledged that in order to make meaningful cuts, staff had  to be considered in the equation.

CEO responses when asked about increasesin spend were logical.  The top three in order were sales, marketing, and R&D.  Many of the comments about this question noted the fact that outside of directly growing revenues, additional spend was hard to build in when many CEOs are driving toward a minimum cash-neutral mandate and economic uncertainties are driving CEOs to think conservatively rather than expansively.

[Click on "more" below for remaining 8 slides and narrative from Q4 2010 CEO survey]

RAISING CAPITAL

The largest segment of CEO survey respondents (40%) listed themselves as having raised capital in the last 12 months, and also planning on raising additional equity in the coming 12.  For those who indicated “other,” most of these CEOs had raised capital quite a while ago (2 or more years ago), were at cash flow positive, and some who were looking at liquidity event in the next few quarters, subject to market conditions.

OUTSOURCING & OFFSHORING

A quarter of CEOs surveyed responded that they were unlikely to ever use/need outsourcing or offshore resources to grow their businesses.

However, almost 70% of CEOs were using some combination of outsourced resources, whether domestic or offshore, full-time or project-based.  Those CEOs using domestic resources were the largest segment at 22%, while those with full-time offshore resources tallied at about 14%.  Nearly one in four CEOs had used contract (non-full-time) outsourced resources in the last 12 months.  A number of CEOs highlighted the fact that although they were users of offshore staff in some capacity, it was difficult to “get right,” and often the experience was less than positive early on in the relationship and took a great deal of work before CEOs could declare it truly accretive.

In answer to where global outsourced/offshore resources were being most utilized, manufacturing, product development, and customer service were the three biggest areas.  One in 5 CEOS (20%)  had already established an international sales presence located abroad.

GROWTH-COMPANY CLIMATE

Do CEOs feel it will be harder to grow companies in the future than in the recent past?  This is a question that many entrepreneurs who look to undertake a new venture (and venture capitalists looking to invest in them) are often quick to ask.

CEO responses were much more evenly distributed than one might think– slightly greater than a third of CEOs indicate “about the same” difficulty, a bit less than a third feel “somewhat more difficult,” and 27% indicating that they thought it would likely be “easier in the next 5 vs. the last 5 years.”  Many of the comments of CEOs responding “easier” pointed to the fact that advances in technology have allowed entrepreneurs to stand up companies for less cash and a lot faster than in years past.   Those CEOs who said it would be harder all pointed to the capital markets, and the medium-term challenges in both raising capital, and achieving liquidity.

DEBT LENDER APPETITE

CEOs were closely split on the question of whether debt has been harder, easier, or about the same to procure in the last few quarters.  37% indicated about the same,  33% responded that it feels worse, and 27% conceded that it appeared easier to get debt now than in the trailing 6 months or so.  However, CEOs commented that even if debt lending had stayed the same or improved slightly in the last six months, over the last year or two lenders have tightened up a great deal, and the lending climate today compared to 2008 is substantially worse.

FEDERAL POLICY IMPACTS

More than three-quarters of CEOs surveyed indicated that there was no impact on their companies due to  changes in federal policy, be it pending capital gains changes, mandatory healthcare, or potential tax increases.  Of those CEOs who did register an impact, the majority (10%) indicated that they would be offsetting any negative impact via headcount reduction.

CEO comments focused on the negative impact of rising healthcare costs as the biggest contributor to any decisions they were considering that were directly attributable to federal policy changes.

EQUITY INVESTOR APPETITE

CEO respondents reported that they saw equity investors as having become more bearish in their investing, with almost 37% holding that opinion.  In contrast, more than 25% of CEOs felt investors appear more willing to put money to work in the next two quarters than in recent past.  CEOs commented that investors don’t want to put money into B rounds, and the investing profile “is a barbell– 259,000 angels poured $17.6 billion into more than 57,000 startups last year, and there are a number of very well funded late-stage private equity firms looking to put $20-$40 million to work per opportunity. But almost nothing in between.”  Other comments indicated that even though investors may be more interested in putting their money to work, those same investors are squeezing valuations harder than ever and their expectations for return are increasingly difficult to meet as an operating CEO.

PRIMARY SURVEY INDUSTRY SECTORS

Of the 50+ CEOs who responded, 25% were running software companies, 16% cleantech, 15$ biotech, 10% interactive media/Internet, and 4% medical devices.  Much of the other 32% of CEO respondents were in the services sector across various industry sectors.

Location of the Companies Surveyed

The majority of responding CEOs were from the New England region (66%), 10% of CEOs’ companies were located in the Rocky Mountain region, with smaller numbers in Northern California (2%), Canada (4%) and the UK( 2%).

TOPIC: How & What Growth-stage CEOs Are Planning for 2011

Below is the hyperlink to take the Q4 CEO peers speed-survey, exclusively for growth-stage CEOs.  This survey focuses on “How & What Growth-stage CEOs are Planning for 2011″

This shouldn’t take more than 5 minutes of a busy CEO’s time–

We here at BSG Team Ventures periodically take the temperature of the markets we serve. The survey is no more than 15 questions, most simple multiple-choice.

These surveys are created and compiled by BSG Team Ventures as a courtesy to our executive ecosystem with the belief that knowledge is power.  Aggregated peer-provided knowledge is “actionable power.”

For the survey results from Q2 2010, titled “Impact of Economy & Renewed Growth Planning”, go to http://www.bostonsearchgroup.com/blog/ceo-survey-results-q2-2010-%E2%80%93-impact-of-economy-renewed-growth/

We make an effort to survey only those who fit the category (in this case, sitting CEOs or board member/founders of technology/science-driven growth-stage companies). [Note, if you don't fit the aforementioned description, please refrain from responding.]

Feel free to forward to the qualified CEOs in your sphere of influence. The more data generated, the more accurate the trend lines.

All responses are anonymous due to the web-based survey technology employed.

We will forward the survey results within the next two weeks to the email address on file. Please let us know if there is another email address you wish us to send the results to as well.