Aug. 11, 2026

How to Build a Company That Outgrows You?

How to Build a Company That Outgrows You?

A business should be built to thrive without its founder. In this candid conversation, Bruce Eckfeldt explores growth, exit planning, leadership, and founder identity. Learn how strong systems, capable teams, and shared decision-making can increase business value while giving founders greater freedom and choice—whether or not an exit is on the horizon.

Beyond Confidence is broadcast live Tuesdays at 10AM ET on W4WN Radio - Women 4 Women Network (www.w4wn.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Beyond Confidence TV Show is viewed on Talk 4 TV (www.talk4tv.com).

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WEBVTT

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The topics and opinions expressed on the following show are

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solely those of the hosts and their guests and not

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those of W four WN Radio. It's employees are affiliates.

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We make no recommendations or endorsement for radio show programs, services,

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be directed to those show hosts. Thank you for choosing

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W four WN Radio.

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This is Beyond Confidence with your host w Park. Do

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you want to live a more fulfilling life? Do you

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want to live your legacy and achieve your personal, professional,

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and financial goals? Well? Coming up on dvparks Beyond Confidence,

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you will hear real stories of leaders, entrepreneurs, and achievers

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who have stepped into discomfort, shattered their status quo, and

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are living the life they want. You will learn how

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relationships are the key to achieving your aspirations and financial goals.

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Moving your career business forward does not have to happen

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at the expense of your personal or family life or

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vice versa. Learn more at www dot Divpork dot com

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and you can connect with vant contact edt dvpark dot com.

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This is beyond confidence and now here's your host, div Park.

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Good morning listeners, It's Tuesday, and of course I'm thrilled

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to be here with you all. Yesterday's something very interesting happened.

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I was speaking Robert actually, one of our previous podcast guests,

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amazing guy. He invited me to speak to his leadership

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cohort and then the questions I heard from them were

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just amazing that he has going so fast and so rapidly,

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that it is increasing it's reasoning, it's increasing its capacity,

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and there's so much more to learn that how do

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we go ahead and implement AI confidently?

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Like?

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Do I need to know everything about AI? And here's

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what I'm going to share with you that I shared

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with the decision makers yesterday. You don't need to know

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everything about AI. It's about building your metacognitive skills so

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you can train AI and AI can be there to

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augment you. A is not the answer and a magic

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wand to all the problems. It's the answer is you.

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And if you are looking to stay up to date

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and future proof your business and career, than AI agencies

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for you and it was very heartening yesterday to hear

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how the book is helping them out make the right decisions.

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So think you think you thank you to each and

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every one of you who have got our books. Really

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appreciate each and every one of you and sharing your

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thoughts with us. So, without further ado, let's bring in

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our guest, Malcolm Bruce.

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How are you.

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Good to have you on the show's gaure to be here?

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Absolutely so, Bruce. We usually start out with whether it's

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a moment or a person in your life that left

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an intellible positive mark on you. What would that be?

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Yeah, I would say, I mean there's been series of them.

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I've done a lot of competitive sports over the years,

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so a lot of them are coaches of various sorts

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and shapes, And I think on the sports side, early

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I remember high school was competitive cross country skier and

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our coach, the team coach, I think, was really interptal

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about teaching me the power of discipline and training and

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what it you know, showing up every day doing the reps,

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doing the work, and not only to get the reward

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in terms of being able to perform well and get

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on the podium, but really kind of enjoying that process

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and kind of the discipline and the work for its

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own sake and just being really appreciating the power of

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enjoying discipline work. And I think that served me throughout

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my life. And then on the business side, I had

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a gentleman I worked with. Tom Nicholson was kind of

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the first agency I worked with when I got recruited

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to New York and just seeing his approach to kind

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of entrepreneurship and we went from a fifty person kind

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of very boutique agency in the New York City area

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to eighteen hundred people globally, fourteen offices across Europe. Right,

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that kind of whole growth process and seeing him navigate that,

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you know, about the challenges and also the successes. Right,

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It was that he was very instrumental in kind of

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my entrepreneurial business world.

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And what really resonated with me was that enjoying the

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discipline work. And so many times what happens is is

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that as you're talking to people, as you talk to

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your clients, it almost seems like discipline has become a

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lost art. Have you experienced that.

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Yeah, I think it's I would say, well, there's probably

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a couple of things around it. I do think there's

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there has been kind of a culture of quick wins

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and hacks and you know, finding kind of ways around

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doing the hard work, which I certainly appreciate, like being

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smart and look, if you can find a better, faster

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way of doing something, let's let's do that. But I

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think sometimes we kind of fall into this let's avoid

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hard work at any cost and take the shortcuts, you know,

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even when they do leave us short in terms of

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the actual results. So I think there's a little bit

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of a culture of that that I've seen in the

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business world that I sometimes feel like we're you know,

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too focused on that and not focused on you know,

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just you're putting in the reps. And you know, I

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think a lot of it too is things are moving

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so quickly that I think some people lose confidence that

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the reps are actually going to get them somewhere. So

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it's like, Okay, well, I'm going to spend three years

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on doing this, right it is the world really going

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to be the thing for the years and is too

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much going to change where I lose confidence in the

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ability for the work to actually deliver the results and

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so and I think that's real in many cases, like

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we do need to kind of think through like, yeah,

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what are the forces, what are the plays? How do

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we stay on top of things so that you know,

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if the plan needs to change, we change the plan.

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But I don't think it means we need to give

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up the reps. We just need to really make sure

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that we're continuing, continuously updating the plan and being you know,

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very situational aware of what's changing, and then make adjustments accordingly.

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But I would say those are the two big challenges

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I run into there.

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Yeah, you definitely brought up a great point over there,

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and it's it's almost too cute us in as to

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what I was mentioning earlier, it is about yes, what

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can the tools do for you? And then what can

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you do? And as you mentioned about that fast pace,

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So the way I see it is it's so important

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to have that discipline decision making as well. So discipline

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just doesn't mean towards the actions, but it's also about

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how are you making that decision making? Are you evaluating consistently?

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As you mentioned, things change and is your business or

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your career going to be relevant in three years time?

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So it's about adapting and pivoting as things change while

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being focused on the reps as you mentioned, because I

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haven't seen anyone building muscles, building their six packs or

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with their muscles, we want to call into action in

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a day or so. So it's about like, you know,

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the course may change, you can code correct at the

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same time that discipline stays really well. So you talked

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about your first foray into business was with mister Colson,

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So tell us more about that time that. Did you

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start your journey directing into the entrepreneurship from there or

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what was it like?

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Yeah, I mean I had a little bit of a

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securitist route to being a founder. It was so Originally

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I was an architect. I trained at mcglean University in Montreal.

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I did two degrees in architecture. I grew up in Minnesota.

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I went back to Minnesota to practice for a little bit,

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started working with a kind of mid sized firm in

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the Twin Cities, and fairly quickly realized that the profession,

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the practice of architecture was very different than the training

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of architecture and was I think a little disenchanted with

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how I saw the kind of profession playing out. Fortunately,

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at the time I had done a lot of computer

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work as part of my architecture education, and I was

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working with the design lead at the firm to do

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more kind of computer modeling and animation work. I was

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kind of hot in the computer so leveraged that and

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at one point just realized the world was kind of shifting.

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I got contacted by an agency, really a recruiter out

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of New York who they were looking for people who

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could do this three D modeling work for more interactive,

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interactive media kind of stuff. So originally it was very

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high on CD ROMs and museum kiosks and things like that.

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The web was just kind of taking off, and I

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got recruited and I kind of made a decision at

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that point that you know, I had an opportunity to

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kind of pivot a little bit, leverage some of the

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skills and capabilities into a new kind of uncharted territory.

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It was exciting. I got to move to New York,

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I got to work with kind of agency world, and

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I kind of jumped, you know, both feet into the

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deep end on that one. And I kind of joke,

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if I really knew everything, if I knew everything that

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I learned over the process, Originally I probably wouldn't have

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paid that switch, but I did, and I'm glad I did.

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But yeah, that got me into kind of the agency world,

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and then we got you know, we're working with a

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lot of growth companies and startups and you know, converting

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people into kind of digital businesses and stuff. So I

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think I just got the business bug. I got very

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into strategy, I got very into technology, and I spent

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six years in the agency world and then founded my

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own tech company back in two thousand and two. Originally

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focused on extreme programming, but we were a lean, agile

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services provider, so we did a lot of product development

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as well as coaching and software teams and doing digital

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transformation work. So and that was fun. I enjoyed it.

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It was like I said, it wasn't I didn't, you know,

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in kindergarten. Didn't think I was going to be an

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entrepreneur and start a tech company. But it's where I

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ended up and it taught me a lot. So that

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was kind of the pivot.

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Absolutely. So you mentioned that you started a tech company,

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and we keep on hearing so many companies. Oracle laid

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this one off, EASA laid this one off, Blockchain, so

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as people are in this tech field, especially with the

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pace that AA is running. Like, you know, sometimes I

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don't know about you, but I feel like it is

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changing every thirty seconds and it's hard.

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To keep up with it.

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What would you share with people who are in the

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tech industry and you pivoted a couple of times in

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your career, What are some of the lessons learned from

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that that they can apply.

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Yes, I think in terms of my own experiences in this,

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I've always kind of found some kind of core capability

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or strength that I have that I could pivot around.

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And I think in those situations it was always a

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question of figuring out, Okay, well, what are the things

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that I have that I really love and enjoy and

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I'm good at that are assets that I can leverage,

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and what are the things I need to let go of.

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So like in the architecture one, it was, you know,

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I had to let go of the actual professional practice

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of architecture, and I do love just the built environment,

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and you know, the idea of constructing things in the

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physical environment and the whole history of architecture and how

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it impacts served spaces, Like there's a lot of things

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I loved around it. But I realized that the opportunity

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was to pivot around my design thinking skills and kind

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of technical skills, so you know, being willing to shed

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certain things, uh, and then double down on other things

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in making that pivot and then seeing, okay, where else

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can it be applied?

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Right?

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So, and and even in companies now when I'm when

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I'm coaching folks, when we look at innovation and where

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we're going to grow the business, you know, I say

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that we've we've got products and services and capabilities, and

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we've got clients and relationships, and we want to pivot

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around one of those, Like either we want to take

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the relationships that we have and find new products and

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services that we can be offering them, or we want

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to take the products and services and find new relationships

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that we can sell them into. But we don't want

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to we don't want to move both, right, Like trying

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to move both is there's there's not enough stability or

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you're not leveraging enough. So I think anytime I'm looking

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at kind of a career change and you know, going

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from architecture to kind of digital media then to entrepreneurship

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than to coaching, they all maintained something. There was something

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that I pivot around, and then there was something I

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was willing to give up. And figuring that out I

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think is the art of the pivot.

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M Yeah, you brought up a really good point that

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you know, either you can build new product and go

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look for new relationships or growing with your clients that

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as your clients are expanding, you keep on giving them

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the features or new products, so you're growing with them.

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And both of them are really great approaches. So let's

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say you are a decision maker of a company, how

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would you.

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Go so the way that I kind of look at

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that process. So for me, that's a STREATT planning and

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innovation process. So there's kind of two questions that we

253
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look at right as I want to understand like where

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is the customer need and where is the competitive landscape?

255
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And we want to look in both cases like we

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want to investigate multiple kind of pivot opportunities, right whether

257
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it's around the product and service or whether it's around

258
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the relationship, and in each case develop a strategic map

259
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that says, okay, well, what are the needs, what are

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the sort of deeper customer needs that we can address

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in those areas. So I want to get deep on

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really understanding what those needs are, how a customer is

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actually making that buying decision, how are they perceiving the

264
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evaluation process. And then I want to understand what does

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the competitive landscape look like like? What are the other

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competing products and services in that space, both direct and indirect,

267
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so things that are going to look like me, but

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also other ways in which the customer could solve those problems.

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And I want to see where there's an opportunity to

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really differentiate and create an advantage. Right, And if I

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see a very competitive landscape where I don't really have

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a unique insight into the customer needs and there's a

273
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lot of very similar uh options out there, right, I

274
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don't there's no real competitive advantage there. I want to

275
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look for that area where I do have you know,

276
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a very noticeable or really executable differentiation strategy in that market.

277
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So at a high level, I do that, and you know,

278
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there's a lot of details around that, but I think

279
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that's the art of strategy.

280
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Yeah, No, definitely, And it makes sense because you've got

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to see whether if you're servicing your existing clients, whether

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it's going to be viable in a few years time

283
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or not. So given that, let's say you know, people

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have gone through the strategy planning and okay, whether we

285
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need to innovate or strengthen things that you already have.

286
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So usually companies look for scaling, and as you are scaling,

287
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what are some of the systems you can STrenD in

288
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today that will scale as well?

289
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I guess fundamentally, I always say if you want to

290
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if you want to scale a business, you have to

291
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scale leadership, right like you you need, you know, a

292
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leadership model that is going to be scalable, meaning that

293
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I can have the right people in the right seats

294
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doing the right things as the company grows. And when

295
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I'm working with the leadership team, uh and we're looking

296
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at you know, a you know, sniffing amount of growth,

297
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my challenge to everyone around the table is like, if

298
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we're going to grow, you need to grow or we're

299
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going to have to hire people above you. Right, So

300
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it's kind of this this uh challenge for leadership to

301
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figure out how do I how do I scale that?

302
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And the fundamental challenge there I would say, I think

303
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most people understand you're gonna have to learn new things

304
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and I think most people are willing to do that.

305
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I think it's still hard, but you've got to learn

306
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new things. I think the challenge that most people don't anticipate,

307
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and I think is usually where people get tripped up,

308
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is you have to actually unlearn a bunch of things

309
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because oftentimes the the strategies, the skills, the capabilities that

310
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got a team to a certain level, if they don't

311
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let those things go, it's going to hold them back, right,

312
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So they're ality to let go, to delegate, to take

313
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on new leadership styles, to you know, not micromanage, to

314
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build systems rather than direct you know, directly involved in things,

315
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you know, communication, data collection, decision making, like, all that

316
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stuff becomes fundamentally different. And if you don't let go

317
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of the way you've done it before, you're going to

318
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get hung up. So I think scaling leadership is probably

319
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number one for me. And then after that, right obviously,

320
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kind of all the processes and the systems and you know,

321
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how do I, you know, systematize business more so that

322
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I can make it scalable and repeatable. It's that's kind

323
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of the second area that I think companies get hung

324
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up on.

325
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Absolutely, I definitely see the validity of both the approaches,

326
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because if your leadership cannot decide, then of course you

327
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know you need that captain at the home that can

328
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take the organization to the next level. Now, you mentioned

329
00:17:56.000 --> 00:17:59.279
a couple of things over there. You mentioned that either

330
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learning new things and growing. So in today's fast pace,

331
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somebody could say that, okay, like you know, if you're

332
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allowing time for somebody to grow, versus you bring in

333
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somebody who's already very experienced in those areas and can

334
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hit the ground running, what would be the choice between

335
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the two.

336
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So it can be kind of complicated in terms of

337
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the factors go into it, But I think fundamentally the

338
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things that I look for is what is the timing right,

339
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Like how much time do we actually have to be

340
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able to either grow or train or develop people internally?

341
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What is the I think the cultural fit side of

342
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it right? So when I look at leadership, one of

343
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the things we look for is kind of the context

344
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in which leaders can be successful in. And so I find,

345
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you know, leaders can be highly successful in one context.

346
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You change their context and they can fail miserably. And

347
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we want to look at what's the pre so in

348
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working with someone or considering a candidate that's highly successful

349
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in a particular context, we need to look at what

350
00:19:08.559 --> 00:19:10.880
are the activators that help them in that context, and

351
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what is the new context and is enough of that transferable?

352
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And so the classic cases, you know, you find high

353
00:19:17.799 --> 00:19:20.039
powered executive that's done very well at a very large

354
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company and then you bring them to a earlier stage

355
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growth company and you know, they just can't operate because

356
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the context that they're operating within is just too different

357
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for them. They don't have the skill, the resources, they

358
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don't have the systems. You know, they don't have the

359
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things that they needed or allowed them to be successful.

360
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So we really need to look at not only as

361
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someone be successful, but what is the context they were

362
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operating within and is that transferable into the new environment.

363
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I would say that's the kind of the biggest one

364
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that we look for in those cases. And generally, like

365
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what is the cultural context that we're operating within and

366
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how well is the organization embraced new members from the outside,

367
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and you know, is that going to work in this

368
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particular context. Sometimes we have to run some experiments. Right,

369
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I got on a big fan of you know, having

370
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an A, B and C, and like what I call

371
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horse racing, right, like being able to play two things

372
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out at the same time and then see which one

373
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is doing better. And so that's sometimes the case, like

374
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we want to both bring in an oxide candidate put

375
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them into a position, but also be working and develop

376
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people internally and then being able to give us six

377
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twelve months of data and performance before we have to

378
00:20:32.319 --> 00:20:33.160
make a decision like that.

379
00:20:34.279 --> 00:20:38.640
Yeah, that's that's definitely a powerful approach because even in marketing,

380
00:20:38.680 --> 00:20:42.480
as we talk about a B testing, and that's usually

381
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a good way to go about it. Now that's said,

382
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as you mentioned about that culture is the key whether

383
00:20:49.960 --> 00:20:51.960
they're the right fit or not and if the context

384
00:20:52.039 --> 00:20:57.319
works for them or not. How do you go about

385
00:20:57.400 --> 00:21:00.119
Let's say you've brought in a new CEO and and

386
00:21:01.319 --> 00:21:06.240
I'm sure dislike any other human beings, that make mistakes,

387
00:21:06.240 --> 00:21:08.039
So what are some of the mistakes that they end

388
00:21:08.119 --> 00:21:08.559
up making?

389
00:21:10.359 --> 00:21:14.839
So for new CEOs coming into a new organization, you know,

390
00:21:14.920 --> 00:21:19.039
I think it probably runs two gamuts. One is they

391
00:21:19.400 --> 00:21:21.480
move too quickly and the other one is they don't

392
00:21:21.480 --> 00:21:25.519
move to they don't move quickly enough, right, So you know,

393
00:21:25.559 --> 00:21:27.319
I think there's a little bit of an art particularly

394
00:21:27.359 --> 00:21:29.160
you know, anytime and executive, whether you're coming in with

395
00:21:29.200 --> 00:21:31.279
a team or department or coming in to run a company,

396
00:21:33.000 --> 00:21:35.839
there's a certain amount of listening that you need to

397
00:21:35.839 --> 00:21:39.680
do and data sort of collection and observation that you

398
00:21:39.720 --> 00:21:44.160
need to do before you can really make clear and

399
00:21:44.519 --> 00:21:49.160
certainly important decisions. And I think there's two folds around that.

400
00:21:49.160 --> 00:21:54.079
One is informational. It's like for the CEO, like Sheer,

401
00:21:54.119 --> 00:21:57.359
he needs to really make sure that they really do

402
00:21:57.440 --> 00:22:00.640
understand right, Like there's there's just make sure you're not

403
00:22:00.680 --> 00:22:03.279
going to get and until you immerse yourself in this situation,

404
00:22:03.400 --> 00:22:05.440
until you have the experience with the other leaders, until

405
00:22:05.440 --> 00:22:09.440
you actually are inside the company. So I think the

406
00:22:09.480 --> 00:22:13.440
first category of mistakes that get made are too many assumptions, right,

407
00:22:13.480 --> 00:22:15.920
like they've done their research or I've been in this

408
00:22:15.960 --> 00:22:20.200
situation before, like I can I get it right, And

409
00:22:20.799 --> 00:22:24.799
they just miss big things that they could have gathered

410
00:22:24.799 --> 00:22:26.759
if they just would have paid a little bit more attention,

411
00:22:27.759 --> 00:22:30.880
you know, in the first thirty sixty ninety days, right,

412
00:22:30.960 --> 00:22:34.720
just being a little bit more open to learning and

413
00:22:34.839 --> 00:22:38.920
experiencing and perceiving things. I think the other side of

414
00:22:38.960 --> 00:22:42.720
that is for the team is feeling heard and feeling

415
00:22:42.759 --> 00:22:46.279
seen and feeling listened to is important. So even if

416
00:22:46.400 --> 00:22:49.839
you do know exactly what's going on and exactly what

417
00:22:49.960 --> 00:22:53.960
needs to be done, taking some time to hear people

418
00:22:54.000 --> 00:22:56.839
out and actually have the conversations and build those relationships

419
00:22:56.920 --> 00:22:59.839
and build trust and get to know people, even if

420
00:22:59.880 --> 00:23:03.000
it doesn't change any of your how your strategies are,

421
00:23:03.000 --> 00:23:06.440
what you're going to implement, you now have enough trust

422
00:23:06.480 --> 00:23:08.720
and relationship with the people that are actually going to

423
00:23:08.720 --> 00:23:11.319
execute that they're willing to listen and give it a try,

424
00:23:11.799 --> 00:23:14.640
because otherwise it's it's I mean the classic is a

425
00:23:14.680 --> 00:23:16.880
new CEO comes in and prints in a new plan

426
00:23:16.920 --> 00:23:20.039
and everyone just rejects it out of process just because

427
00:23:20.039 --> 00:23:21.680
they haven't been part of it. There's been no buy in,

428
00:23:21.720 --> 00:23:24.839
there's been no enrollment, and that the flip side is

429
00:23:24.920 --> 00:23:28.440
the you know, not taking action soon enough. And you know,

430
00:23:28.480 --> 00:23:30.200
depending on the situation, I've I've been brought into a

431
00:23:30.240 --> 00:23:32.319
couple of situations where where things did need to happen

432
00:23:32.359 --> 00:23:37.119
fairly quickly and not making decisions. You know, it's kind

433
00:23:37.119 --> 00:23:40.960
of there's a little bit of of uh. You know,

434
00:23:41.000 --> 00:23:44.599
the worst decision is no decision, and even even though

435
00:23:44.599 --> 00:23:46.480
it might not be the right decision. I've been in

436
00:23:46.519 --> 00:23:48.480
situations we just need to decide something just so we

437
00:23:48.519 --> 00:23:51.799
could start moving forward on it. And in those cases,

438
00:23:51.799 --> 00:23:53.680
what I'm looking for, you know, still trying to build

439
00:23:53.759 --> 00:23:58.559
enough rapport as quickly as possible, but then also post decision,

440
00:23:58.680 --> 00:24:00.000
like making sure that we have a lot of community,

441
00:24:00.359 --> 00:24:02.319
a lot of feedback, and you know, if need be,

442
00:24:02.400 --> 00:24:04.079
we can reverse things. But I think a lot of

443
00:24:04.079 --> 00:24:06.960
teams end up getting stuck because there's just no decision.

444
00:24:07.079 --> 00:24:10.559
And sometimes it's like just to make any decision is

445
00:24:10.599 --> 00:24:13.480
better than no decision and then figure out how to

446
00:24:13.599 --> 00:24:15.759
kind of evaluate it as we go and if we

447
00:24:15.799 --> 00:24:17.359
need to course correct or we need to unwind it

448
00:24:17.440 --> 00:24:20.039
later find but at least we've done something. And I

449
00:24:20.039 --> 00:24:23.920
think that's another area that new leaders can get stuck in.

450
00:24:24.960 --> 00:24:29.559
Absolutely, you're definitely right on the mark, because if you're

451
00:24:29.640 --> 00:24:32.799
not going to experiment, then you're not going to know.

452
00:24:33.720 --> 00:24:36.960
So many times, what also happens is that people wait

453
00:24:37.000 --> 00:24:41.039
for certainty, especially decision makers then and that's where they

454
00:24:41.079 --> 00:24:45.519
can be stuck sometimes gathering data and like Okay, you

455
00:24:45.559 --> 00:24:48.640
know this is where we are going to go, and

456
00:24:48.680 --> 00:24:52.200
how is it going to pan out? Versus as you mentioned,

457
00:24:52.240 --> 00:24:55.759
you know, take that experimentation, start out on a small

458
00:24:55.839 --> 00:24:58.480
scale and see what's working, and then scale it up.

459
00:24:59.079 --> 00:25:03.279
So let's say organizedation completes its life cycle. They've started it,

460
00:25:04.000 --> 00:25:07.920
build sustainability, they've scaled it, and of course as an

461
00:25:07.960 --> 00:25:11.240
actual completion cycle. So many times it comes to especially

462
00:25:11.279 --> 00:25:15.200
if it is smaller companies and as gen zs and

463
00:25:15.279 --> 00:25:21.359
millennials are going for startups, the exit planning very specialize

464
00:25:22.160 --> 00:25:26.519
comes into play. So what are some of the systems

465
00:25:26.640 --> 00:25:30.839
or thoughts or approaches people can put into place for that.

466
00:25:31.359 --> 00:25:35.079
Yeah, yeah, So this is one I've worked on for

467
00:25:35.079 --> 00:25:37.559
probably a decade now, you know, even from my own

468
00:25:37.559 --> 00:25:39.160
exit working with a lot of founders that I've gone

469
00:25:39.200 --> 00:25:40.720
through exits, and I think a couple of things that

470
00:25:40.759 --> 00:25:44.559
I've realized we've kind of learned over the years. And

471
00:25:44.319 --> 00:25:48.559
I primarily work with founders who are going through the

472
00:25:48.559 --> 00:25:51.599
exit process. It's a little different when you're dealing with

473
00:25:51.680 --> 00:25:53.480
hard CEOs and boards and things like that, but when

474
00:25:53.519 --> 00:25:55.200
you have owners who are still kind of privately held

475
00:25:55.240 --> 00:25:58.799
or at least privately controlled. I think the two things

476
00:25:58.799 --> 00:26:02.039
that I've come to learn one is founders are unemployable,

477
00:26:02.839 --> 00:26:05.000
right and that they're not going to go get another job.

478
00:26:06.519 --> 00:26:10.200
If they do, don't they don't last very long. And

479
00:26:10.519 --> 00:26:14.119
two is but most founders that I've worked with never

480
00:26:14.160 --> 00:26:17.799
really want to retire, right that they are not interested

481
00:26:17.839 --> 00:26:19.319
in sitting on a beach. They don't want to drink

482
00:26:19.319 --> 00:26:22.480
pinuclatas Right, It's just it's not that they have a

483
00:26:22.480 --> 00:26:25.079
whole host of other things they want to do. And

484
00:26:25.240 --> 00:26:27.200
I think the fundamental challenge, or at least the thing

485
00:26:27.279 --> 00:26:29.519
I think we've we haven't done a very good job

486
00:26:29.599 --> 00:26:31.640
in as an industry. I think we've done a fairly

487
00:26:31.640 --> 00:26:35.920
good job with things like valuation and maximizing kind of

488
00:26:36.480 --> 00:26:39.200
the valuation of the financial side of the company. I

489
00:26:39.200 --> 00:26:41.279
think we're doing a better job, but kind of preparing

490
00:26:41.440 --> 00:26:44.400
the company for exit process, right, Like, you know, the

491
00:26:44.440 --> 00:26:48.319
exit is a transaction like that is horribly disruptive to

492
00:26:48.359 --> 00:26:49.759
a company, and I think you know a lot of

493
00:26:49.759 --> 00:26:53.279
companies suffer through the process, or worse, they suffer through

494
00:26:53.279 --> 00:26:55.079
it and then the transaction doesn't go through and then

495
00:26:55.119 --> 00:26:58.640
they're you know, the help ale is kind of impact

496
00:26:58.640 --> 00:27:01.759
and downside of the lost of the going to market,

497
00:27:01.759 --> 00:27:04.359
but none of the benefit. But I think the area

498
00:27:04.400 --> 00:27:08.160
that we've really missed is the transition side of it.

499
00:27:08.200 --> 00:27:09.839
So we talk a lot about transaction, but we don't

500
00:27:09.839 --> 00:27:12.279
talk a lot about the transition for the founder. And

501
00:27:12.400 --> 00:27:16.599
what I've kind of discovered and kind of focused on

502
00:27:16.880 --> 00:27:19.680
is working with founders to help them figure out what

503
00:27:19.680 --> 00:27:22.880
that next chapter is going to look like and getting

504
00:27:23.000 --> 00:27:27.279
very clear and specific and making that a positive, empowering,

505
00:27:27.920 --> 00:27:31.440
bigger picture thing. Right, So, how do we level up

506
00:27:32.920 --> 00:27:35.559
our professional world, even our personal world, our life in

507
00:27:35.599 --> 00:27:39.359
general through that process. And if we can think about

508
00:27:39.359 --> 00:27:42.440
that strategically and we can paint a very clear picture,

509
00:27:43.400 --> 00:27:45.920
it creates pull through the process, meaning that a founder

510
00:27:45.960 --> 00:27:48.920
is now wanting to move through the growth and exiting

511
00:27:48.960 --> 00:27:52.759
process to be able to get to next level. Otherwise,

512
00:27:52.799 --> 00:27:55.759
what I found is that without a clear sense of

513
00:27:55.799 --> 00:27:59.160
what's next, there's this kind of existential crisis that comes up.

514
00:27:59.279 --> 00:28:01.480
And even if a founder is like, yes, I want

515
00:28:01.480 --> 00:28:03.599
to grow and I want to sell, I want to

516
00:28:03.599 --> 00:28:05.559
get this money, if they don't know what they're going

517
00:28:05.599 --> 00:28:09.279
to do next, they'll they'll both consciously and unconsciously sabotage deals.

518
00:28:10.000 --> 00:28:13.319
And you know it can it can be very sort

519
00:28:13.319 --> 00:28:15.599
of unconscious and just kind of dragging their heels we

520
00:28:15.640 --> 00:28:17.720
can get into the deal process and get a term,

521
00:28:17.759 --> 00:28:19.519
and all of a sudden they're like, well, I don't

522
00:28:19.519 --> 00:28:20.920
I don't like this term, or I want this much

523
00:28:20.920 --> 00:28:23.000
more money, orright, I don't want this earnout right, you know,

524
00:28:23.039 --> 00:28:25.039
I don't like this noncompete like to find all sorts

525
00:28:25.039 --> 00:28:27.839
of ways to kind of blow up deals or they

526
00:28:27.839 --> 00:28:31.000
do the deal and and they for some people it

527
00:28:31.000 --> 00:28:33.559
can be a role crisis, right, is figuring out what

528
00:28:33.599 --> 00:28:36.480
do I do next? Even with the big bank account,

529
00:28:37.119 --> 00:28:39.759
you know, there's a sense of identity and purpose and uh,

530
00:28:39.880 --> 00:28:42.640
you know day to day like how do I you know,

531
00:28:42.680 --> 00:28:46.079
how do I find meaning in life? So I have

532
00:28:46.119 --> 00:28:48.039
found that more that we can figure out that next

533
00:28:48.119 --> 00:28:50.759
chapter and really plan that make that exciting and important

534
00:28:50.839 --> 00:28:53.720
and a real level up for founders. It really helps

535
00:28:53.720 --> 00:28:56.759
facilitate that whole process and creates pull through the organization.

536
00:28:57.920 --> 00:29:03.880
Absolutely. And so what I'm resonating with is defining what's

537
00:29:03.920 --> 00:29:07.559
going to be the strategy, what's the life going to

538
00:29:07.599 --> 00:29:10.440
look like after they exit? And so many people don't

539
00:29:10.480 --> 00:29:14.000
ask those questions because those are such important and essential

540
00:29:14.119 --> 00:29:17.200
questions to ask, like, Okay, we are going to build,

541
00:29:17.240 --> 00:29:19.160
we are going to make it sustainable. We are going

542
00:29:19.200 --> 00:29:24.000
to scale, we are going to exit, but what comes

543
00:29:24.039 --> 00:29:31.920
after the deal very critical. So as we are drawing

544
00:29:31.960 --> 00:29:35.799
to a close, are there any of the thoughts that

545
00:29:35.839 --> 00:29:37.680
come to your mind that you'd like to share with

546
00:29:37.759 --> 00:29:38.440
our audience?

547
00:29:40.079 --> 00:29:42.039
Yeah, I mean I guess you know, for the founders

548
00:29:42.079 --> 00:29:44.000
that are out there that are you know, I always

549
00:29:44.039 --> 00:29:46.160
say you're going to exit at some point, right it

550
00:29:46.240 --> 00:29:48.640
might be feed first, but you're going to exit your business.

551
00:29:48.799 --> 00:29:50.920
And the more that you can think about it beforehand

552
00:29:51.000 --> 00:29:54.200
and you know, have a plan. You know, the best

553
00:29:54.240 --> 00:29:56.240
time to plan your exit is before you start the company.

554
00:29:56.319 --> 00:29:59.920
That the second best time is now having a plan,

555
00:30:00.039 --> 00:30:01.720
because I think a plan is you know, an exit

556
00:30:01.759 --> 00:30:03.480
plan is not something you do when you're ready to exit.

557
00:30:03.559 --> 00:30:05.440
It's something you do to really drive your growth and

558
00:30:05.960 --> 00:30:09.720
where you want to take the company. So investing some

559
00:30:09.799 --> 00:30:14.640
kind of time, energy, resources, mind share into thinking about

560
00:30:14.640 --> 00:30:18.960
those things. And the second thing is think about it

561
00:30:19.000 --> 00:30:21.839
as what what does it afford you? Right like, what

562
00:30:21.880 --> 00:30:23.880
would what does it allow you to then achieve and

563
00:30:23.880 --> 00:30:26.599
accomplish at a bigger level? So you know, doing a

564
00:30:26.599 --> 00:30:29.119
little visioning work and figuring out what what is meaningful

565
00:30:29.160 --> 00:30:32.279
for you? What really drives you what is the next uh,

566
00:30:32.319 --> 00:30:34.599
what is the next thing you want to achieve? Hopefully

567
00:30:34.680 --> 00:30:37.599
with a lot more kind of financial security, safety or

568
00:30:37.640 --> 00:30:40.079
resources to be able to invest in that. But take

569
00:30:40.079 --> 00:30:42.039
the time to do that, because it's not just something

570
00:30:42.039 --> 00:30:44.200
you would do when you're getting ready to exit or

571
00:30:44.200 --> 00:30:46.240
after re exit. It actually helps you with your exit,

572
00:30:46.359 --> 00:30:48.519
your whole kind of growth strategy process, and it will

573
00:30:48.559 --> 00:30:51.160
make your current day to day I think, much much

574
00:30:51.200 --> 00:30:55.119
more fulfilling and meaningful and impactful and motivating if you

575
00:30:55.119 --> 00:30:55.839
can figure that out.

576
00:30:56.960 --> 00:31:00.160
And that's such an important thing to figure out. So

577
00:31:00.240 --> 00:31:03.000
as some of our listeners may be thinking, hmm, and

578
00:31:05.079 --> 00:31:08.680
with regards to my exit strategy, where can they connect

579
00:31:08.720 --> 00:31:10.079
with you? Where can they find you?

580
00:31:10.480 --> 00:31:13.400
Yeah, so my website just my last name a cult

581
00:31:13.440 --> 00:31:16.480
dot com on there. If you go to slash book

582
00:31:16.519 --> 00:31:21.119
is my book Springboard in Focus, which is about founder

583
00:31:21.160 --> 00:31:24.039
exit strategies. There's a lot of kind of general stuff

584
00:31:24.039 --> 00:31:25.640
in there around a lot of these questions that we're

585
00:31:25.640 --> 00:31:27.559
talking about, as well as whole bunch of more specific

586
00:31:28.119 --> 00:31:29.799
kind of tool secniques you can use to kind of

587
00:31:29.839 --> 00:31:31.599
answer some of the more objective questions. But yeah, I

588
00:31:31.599 --> 00:31:34.160
would say anyone who's interested in kind of grappling with

589
00:31:34.279 --> 00:31:39.240
the post exit world vision. Pick up the book, give

590
00:31:39.240 --> 00:31:40.519
me a ring. I'd be happy to talk to them

591
00:31:40.519 --> 00:31:43.160
about it all fantastic.

592
00:31:43.319 --> 00:31:48.400
Well, thank you for joining us, Bruce. It was enjoying

593
00:31:48.400 --> 00:31:49.119
our conversation.

594
00:31:50.279 --> 00:31:51.599
Thanks to you, there's been some.

595
00:31:51.559 --> 00:31:57.519
Pleasure, absolutely, and thank you wonderful Beyond Confidence family. We

596
00:31:57.640 --> 00:32:01.079
love you and we love that you reach out to

597
00:32:01.160 --> 00:32:03.519
us and you share your thoughts. I know some of

598
00:32:03.559 --> 00:32:08.279
you have been such avid followers and I treasure you

599
00:32:08.400 --> 00:32:10.920
just want to share that and reach out to us

600
00:32:10.960 --> 00:32:13.000
like you always do. Let us know how we can

601
00:32:13.079 --> 00:32:17.279
serve and support you. And thank you On who is

602
00:32:17.319 --> 00:32:21.400
a tech genius and Bival and take care to Alexa.

603
00:32:22.559 --> 00:32:24.960
Thank you for being part of Beyond Confidence with your

604
00:32:24.960 --> 00:32:27.640
host v Park, we hope you have learned more about

605
00:32:27.640 --> 00:32:30.279
how to start living the life you want. Each week

606
00:32:30.319 --> 00:32:33.240
on Beyond Confidence, you hear stories of real people who

607
00:32:33.240 --> 00:32:37.559
have experienced growth by overcoming their fears and building meaningful relationships.

608
00:32:37.920 --> 00:32:41.319
During Beyond Confidence, Vpark shares what happened to her when

609
00:32:41.319 --> 00:32:43.759
she stepped out of her comfort zone to work directly

610
00:32:43.799 --> 00:32:46.839
with people across the globe. She not only coaches people

611
00:32:46.880 --> 00:32:50.359
how to form herd connections, but also transform relationships to

612
00:32:50.440 --> 00:32:53.799
mutually beneficial partnerships as they strive to live the life

613
00:32:53.839 --> 00:32:56.240
they want. If you are ready to live the life

614
00:32:56.240 --> 00:32:59.839
you want and leverage your strengths, learn more at www.

615
00:32:59.880 --> 00:33:03.000
Dot w park dot com and you can connect with

616
00:33:03.240 --> 00:33:07.279
v at contact at dvpark dot com. We look forward

617
00:33:07.359 --> 00:33:08.599
to you're joining us next week.

618
00:33:15.720 --> 00:33:15.839
Hm,