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- [00:00]
A
This is the story of the one As a maintenance tech at a university, he knows ordering from multiple suppliers takes time away from keeping their arena up and running. That's why he counts on Grainger to get everything he needs, from lighting and H vac parts to plumbing supplies, all in one place. And with fast, dependable delivery, he's stocked and ready for the next tip off. Call 1-800-GRAINGER click granger.com or just stop by Granger for the ones who get it done.
- [00:30]
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Great companies aren't built on average talent. In private equity backed high growth businesses, the right operator changes everything. Onward headhunting partners with founders, operators and investors to build elite finance strategy and operations teams. From early hires to exit ready leadership, we deliver the talent that drives outcomes. If you are scaling or transacting, go onward visit onward headhunting.com or find us on LinkedIn to learn more.
- [00:57]
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This is Scott Becker with the Becker Business and the Becker Private Equity Podcast. Today's discussion revolves around the three phases of a founder. We talk about this often in building businesses that there's there's really three phases. There's probably more we think about in three phases. First is the phase where you as a founder are doing everything. You're sort of the old how the old edge goes. You're the chief cook, the bottle washer. You're sort of doing a lot of everything. The second phase is you start to hire people, but those people aren't necessarily better at doing what you did than yourself, but they do extend you and leverage you. In the second phase, we've started to build a team, but you haven't really built a team of superstars. You're still very limited. You're still limited where at the end of the day everything in one way or another stops and goes with you. And that's no way to build a scalable business. The third phase of a founder is when you've built a team and everybody is better at the individual roles that used to do than you are. So you've got a chair of Department of Growth, you've got a chair of Growth, you've got a CEO, you've got a chief editor, you've got whatever it is the roles are in your own business who all can manage things and do their job better than you're able to do it. And this is when businesses can really take off and accelerate because you're no longer the limiting step. I remember it was probably a decade ago, maybe less than that race to sign off in the morning and every single electronic newsletter that our company did. And at that point we were doing probably doing 15 to that. And obviously this seems good from a control standpoint, but it's awful in terms of scalability and really growing a business. You've made yourself the limiting step. So the real place you want to be as a business, the real the third phase, that third stage of a founder, is when you've gotten to a spot where the CEO is far better than you can ever do that job. The editor in chief far better than you could ever do that job. The chief growth officer far better than you could do that job. All the different roles in the company are now filled out by department chairs, by leaders, by vice presidents, whatever the roles are that you have in your own company, by people that are better at doing those jobs than you could ever do them. And that's when a business is no longer reliant on the founder. You're no longer the limiting step on so many things. The business can really grow and thrive into something different. Thank you for listening to the Becker Business and the Becker Private Equity Podcast. Thank you very, very much.
- [03:14]
A
This is the story of the One As a maintenance tech at a university, he knows ordering from multiple suppliers takes time away from keeping their arena up and running. That's why he counts on Grainger to get everything he needs, from lighting and H vac parts to plumbing supplies, all in one place. And with fast, dependable delivery, he's stocked and ready for the next tip off. Call 1-800-granger. Click granger.com or just stop by Granger for the ones who get it done.