My 10 Top-of-the-Head Requirements for an Operator

Over the years, I've put together lots of ideas in my head as to what I look for in an operator for our companies. Someone asked me to put that on paper, so this was my first pass - whether I would be operating or someone else.

What do you think are superfluous or am I missing?

1) P&L responsibility​ at another organization. Does not have to be full company p&l - a division or unit of a larger company is fine - but s/he must have had ownership of the P&L.

2. Must be fluent in financials. This may be an amplification of #1, but they must be able to read, understand, and act on various financial reporting.

3)Had to have performed a sales role in the last 10 years. This could be a sales- or sales-management-related position.

4. Must have extensive experience (10+ years) in the industry that the acquisition is in. Not necessarily the same specific niche in the industry, but within in the industry as a whole.

5. Must be entrepreneurial-minded. This should be exemplified by work examples that show an ability to manage a team with productivity / profitability as the goal as opposed to playing a part in a large corporate hierarchy.

6. Must be a great communicator. Investors, banks, and portfolio-level folks will need regular communication of the critical success factors and early indicators within the business. This doesn't have to be complex, but it must be done.

7. Must be willing to get hands dirty. For the first few years, this will not be a find someone to delegate everything to position. There will be a significant portion of hands-on work that will pop up for them to do.

8. Must be willing to make a significant portion of their compensation an earn-in to equity. This specifically means that they will not be making a Fortune 500 salary.

9. Must have a plan to grow the company. This will be harmonized with the portfolio-level plan, but we have to see that they recognize how to grow a company.

10. Must be able to work - at least in the beginning - in a very unstructured environment, but create structure as s/he goes. Does s/he have an example of a new endeavor where s/he didn't contribute to or grow the chaos, but instead created order?

Perhaps this is an idealistic view, but I don't think so. It is what they will need to succeed and thrive in a SMB environment.

What do you think?