Pre-2011, global executive search was dominated by a small handful of powerful players. Until then, ‘the big five’ commanded more than 90% of the market, and didn’t look like loosening their grip.
However, with a business model that has relationships at its core, and a determination to disrupt traditional approaches, entrepreneurs and TritonExec co-founders Ben Graham and Jonathan Morris began to shake things up… in a big way. By doing away with the one-size-fits-all ‘multidisciplinary’ approach, and the rigid and often onerous fee models, TritonExec shed light on a better way.
Specializing in Digital and Technology, Private Equity, and Professional Services, TritonExec was – and remains – the pioneer among a new breed of executive search firms, securing genuine value with skills, insights and attributes that deliver a multi-faceted approach to executive search.
The turning point
All well and good, but to truly break the mould in a fiercely competitive marketplace, Jon and Ben needed a big break. This came with a $500,000 contract to recruit 35 executives for a multi-billion dollar global digital transformation player, across its European operations. This happened while TritonExec was still just two guys working across a dining room table.
“We needed to present ourselves as bigger than we were.”
Knowing this was their one chance, they approached a friend who owned a marketing company, paid him £1,000, and asked him to mimic the top five search firms’ style in their pitch document.
IT DID THE TRICK
Initial elation was closely followed by flat-out panic, wondering how they’d achieve 35 executive searches with no supporting resources. Both knew, however, that this was make or break – and they did it. On the back of their success with our first client, they founded TritonExec in 2011.
Redefining the market need
Their strategy was simple. Keep up with technological change and customer communication trends, challenge the traditional search models and become trusted advisors for long-term partnerships. Oh, and apply multi-year agreements with flat retained fees, to negate the dips and spikes normally associated with executive search hiring.
“Clients have full transparency in their dealings with TritonExec, and feel confident building enduring and mutually successful relationships with us.” – Jonathan Morris
The rest is history
Today TritonExec has offices in London, Atlanta and New York, and is continuously taking market share from the ‘big five’.
“Our philosophy since day one has been very much, ‘land and expand’; in other words, build long-term partnerships with clients and service them on a global scale.” – Ben Graham.
TritonExec currently employs 32 people and turns over £8million ($11.3million). The firm recently announced new contracts worth £20million ($28 million) for the next two years, and is continuously adding to an impressive client list.