Speed interviewing: For busy executives, what a brilliant concept. After realizing that the traditional hiring process could be both ineffective and a huge time-suck, entrepreneur and angel investor Amy Rees Anderson decided to switch things up. Step 1: stop advertising for specific positions. Instead promote the qualities you want in an employee, and encourage prospects with diverse backgrounds to apply. Step 2: Screen candidates in advance with an IQ test, personality assessment and resume review. Step 3: Meet the full lineup of prospects in one day. Ask each prospect to give a 3-minute pitch on why he or she should be hired, in front of a board of executives. Step 4: Hire based on your gut instinct and the data you’ve collected. Step 5: Watch your business flourish.