The year was 1994 and something called a job board was being
launched- specifically CareerMosaic, named after the web browser credited for
popularizing an old thing called the Internet.

In a meeting with top executives, Bernard Hodes, a brilliant marketeer and the CEO of the agency that bore his name, shared his rationale for creating the pricing structure for his new category of recruitment advertising.

"We’ll price the postings as a $100 add-on with any newspaper ad” he said. (At the time a 1” by 3” classified ad in the NY Times on Sunday was probably about $1,500.) He continued, “Who doesn't have an extra $100 to experiment on a new media?”

Unknowingly, he was establishing a precedent for what is today a $6+ billion business. (Factoid- CareerMosaic was eventually sold to headhunter.net which was eventually bought by CareerBuilder, as of today one of the 2 giant oaks still standing.)

I call this a budget for failure because that way if the outlay fails to generate a positive return on its investment, at least you can take solace from having known it in advance.

For me, it is the amount of money I set aside for a potential bad hire- someone who doesn’t meet my exact requirements but has a kernel of an idea that might take me new places.

It's important because the BRANDEMiX brand is a culture of ideas and execution.

In case you haven’t yet drawn the connection, my budget for failure is also part of my plan for success. Without funding for my failures, I am unable to succeed at delivering my brand.

Labels: BRANDEMiX, Branding, Employer Branding