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In this episode of The CEO Project Podcast, host Jim Schleckser interviews Brent Yeagy, the CEO of Wabash, a publicly traded company specializing in transportation and distribution assets, including trailers and digital solutions. Wabash, founded in 1985, operates across manufacturing, service, and distribution locations, generating billions in revenue.
The discussion delves into how Wabash differentiates itself through customer-focused, innovative services, including their subscription-based "trailers as a service" product. This approach helps clients with agile capacity without capital ownership, enhancing flexibility and efficiency for logistics companies. They explore how Wabash’s offerings like agile trailer pools provide a competitive edge in a traditionally low-margin industry.
The CEO also discusses Wabash's joint ventures and lean operational strategies, which extend beyond manufacturing to encompass strategic and innovative business practices, enabling faster deployment and more adaptable processes. Additionally, Schleckser and the CEO discuss navigating the cyclical nature of the transportation industry, with Wabash’s lean balance sheet providing a foundation for resilience through economic downturns.
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Welcome to The CEO Project Podcast, where Jim Schleckser, author of Great CEOs Are Lazy, discusses ways top CEOs can optimize their businesses. Jim announces the rebranding of the podcast from "The Lazy CEO" to "The CEO Project Podcast," aligning with the project's broader mission. Today’s guest, Bradley Hamner, a business growth coach, shares his journey from struggling in his first business to developing a scalable process architecture that allowed him to work "on" rather than "in" his business. Now, he coaches entrepreneurs to build systems that drive sustainable growth, especially focusing on small to mid-sized businesses.
Bradley highlights the challenges small businesses face with popular operating systems like EOS and 4DX, often needing custom approaches to suit smaller teams. His "SCALE" framework emphasizes sustainable revenue, profitability, time off, leverage through delegation, and efficient operations. Together, Jim and Bradley discuss the importance of community and peer support among CEOs to reduce ego barriers, foster vulnerability, and achieve personal and business growth. This episode underscores that scalable success requires structured processes and a supportive community for CEOs on their journey.
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Manglende episoder?
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In this 100th episode of The Lazy CEO Podcast, host Jim Schleckser marks the milestone by announcing the show's upcoming name change to The CEO Project Podcast, reflecting its focus. Beginning with episode 101, listeners will find all content under the new name.
Jim’s guest is Jennifer Frye, the CEO of Appreciated Asset Business Solutions, which specializes in building robust sales pipelines for industry disruptors through a unique prospecting and appointment-setting service. Jennifer emphasizes that successful client acquisition hinges on a personalized, relationship-focused approach. She shares insights into how her firm distinguishes itself by using targeted psychographics and values alignment, going beyond typical demographic data to create meaningful client connections.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser, founder of The CEO Project, announces the upcoming name change of the podcast from The Lazy CEO Podcast to The CEO Project Podcast. The current episode is number 99, and the switch will happen after the 100th episode, although all past episodes will remain accessible.
The guest on this episode is Don Schmincke, a researcher with a background in MIT and Johns Hopkins. He shares insights from his research on the high failure rates of management theories, revealing that they often ignore primal human decision-making factors. Schmincke’s work spans across biological, physical, and business systems, blending disciplines to uncover ways to help companies grow faster than traditional methods. His research, which includes looking at human behavior and ancient training programs, has led to breakthroughs in management by focusing on altering human beliefs rather than just providing tactical tools.
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In this episode of The Lazy CEO podcast, Jim Schleckser, host and founder of The CEO Project, introduces Ilias Simpson, the new President of Cart.com. Ilias talks about Cart.com's comprehensive supply chain solutions, emphasizing its omni-channel capabilities and how they manage everything from digital storefronts to order fulfillment. He explains the company’s end-to-end approach, handling fulfillment for big brands like PacSun and Toms. Cart.com’s ability to offer integrated marketing, order management, and warehouse services sets them apart in a highly competitive market.
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In this episode of The Lazy CEO Podcast, Jim Schleckser, founder of The CEO Project, discusses the growing field of customer experience engineering alongside Sharon McGuire. The episode explores how companies can design processes that delight customers, turning their experiences into key marketing tools. The hosts emphasize that understanding customers, including segmenting them based on their unique needs, is critical for crafting a successful customer journey.
They touch on methods like surveys and qualitative focus groups to gain insights into customer desires, noting that exceptional experiences often come from delivering what customers didn’t explicitly request but would love. They highlight the importance of eliminating friction, such as through seamless technology or low-effort processes, like easy car rentals and fast online checkouts, drawing parallels between B2C experiences (like Amazon) and B2B environments.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser interviews, Erwin Visser, a business development leader at Microsoft who has not only achieved success in tech but also in extreme sports, having summited Mount Everest. The conversation covers several key topics, starting with hiring top talent, focusing on exceptional personal achievements like mountain climbing. The guest shares insights on cloud migration trends and the role of AI in enhancing productivity and cybersecurity, discussing real-world examples of AI applications in sales, finance, and auditing.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser dives into the world of podcasting as a business tool, exploring how it can drive growth and success. Jim welcomes Seth Greene, an expert in the field and co-host of The SharkPreneur Podcast. Seth shares his unique approach, highlighting that podcasting isn't about getting millions of downloads or sponsorship revenue. Instead, it's about building relationships with guests and leveraging those connections for business success.
Seth explains that the key to podcasting for business growth lies in focusing on two types of guests: potential clients and joint-venture partners. By engaging these individuals in meaningful conversations, podcasts can convert them into clients or referral partners, creating long-term business opportunities. Seth emphasizes that the goal is to establish trust and build a rapport, making the podcast a tool for relationship-building rather than just content creation.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser discusses the importance of a relentless desire to learn, particularly for CEOs and leaders. Schleckser introduces his guest, Damon Lembi, a two-time bestselling author and learning platform host, who has helped over two million people enhance their skills. The conversation centers around the concept of learning as a key competitive advantage for companies and leaders.
Lembi shares his personal journey, from his early career in baseball to becoming a leading figure in the learning and development space. He emphasizes the need for individuals to be open to learning, adaptable, and self-aware, highlighting that success often stems from continuous self-improvement. The discussion explores practical ways to assess a person's willingness to learn during hiring, including asking candidates to share recent books they've read and how they’ve applied that knowledge.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser talks with Ronak Patel, CEO of Sunflower Labs, about integrating AI and machine learning (ML) into business processes to augment human efforts. Patel explains AI's potential, common use cases, and ethical considerations, especially around AI as an assistant rather than a full replacement for human roles. They discuss AI's current applications, such as automating customer service, HR functions, and financial processes, emphasizing that AI is most effective when used to enhance human productivity rather than replace it.
Patel highlights the growing trend of smaller, purpose-built AI models that are more cost-effective and targeted compared to massive, general-purpose models like ChatGPT. These models can be deployed even by smaller companies, democratizing access to advanced technology that was previously available only to large corporations with substantial budgets.
They also touch on the challenges, such as data requirements for training AI, the high costs of large language models, and the risk of AI hallucinations—where AI generates incorrect or fabricated information. Patel suggests solutions, including adjusting the "temperature" setting in AI models to reduce creativity and ensure more reliable outputs, showing that the future of AI lies in controlled, specific applications rather than generalized, all-encompassing solutions.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser, joined by co-host Sharon McGuire, dives into the world of private equity, a hot topic expected to gain even more traction in the coming years. The discussion starts with an overview of private equity firms, comparing them to private mutual funds that invest pooled capital into various assets, often with a lifespan of 8-10 years. These firms face pressure to deploy their cash quickly, especially after the large sums raised during COVID-19, as sitting on uninvested money can upset investors.
Jim explains how private equity firms make money through the "2 and 20" model: a 2% management fee on invested funds and 20% of the profits. They aim for 8-12 investments to diversify risk, and the size of the firm dictates which companies they will invest in, often favoring deals worth millions or more.
The podcast highlights the challenge for business owners looking to sell minority stakes; most private equity firms prefer majority ownership for control. Even when minority deals occur, they come with significant control provisions, giving private equity firms veto power over major decisions. Family offices, which manage wealth for high-net-worth families, are one of the few entities willing to do minority deals without demanding full control.
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In this episode about Succession Planning for CEOs and Their Organization
· Talent Assessment and Development: The episode emphasizes the importance of using the ABC rating system and the 9-box exercise to regularly assess and develop talent within the organization, focusing on both current performance and promotability.
· Succession Planning Tools: Jim and Sharon discuss practical tools like depth charts to ensure a robust succession plan, highlighting the need to have a pipeline of talent at different levels of readiness within the company.
· Managing Long-Tenured Leaders: The hosts address the challenges of dealing with long-serving leaders who may be hindering the growth of younger talent, offering solutions such as assigning special projects or encouraging retirement to create opportunities for others.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser interviews Adam Coffey, a seasoned CEO, board member, best-selling author, and speaker with extensive experience in private equity, particularly in the context of exits and ownership. Coffey, who has led the acquisition of 58 companies and generated over $2.5 billion in exits, shares insights from his career, which includes building three national companies under nine different private equity sponsors.
The conversation delves into the workings of private equity from a CEO’s perspective, explaining how private equity firms operate, including their typical 10-year fund life, the 2% management fee, and the 20% profit share. Coffey explains the concept of arbitrage, where small companies are acquired at lower multiples and later sold as part of larger entities at higher multiples, generating significant returns.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser dives into the concept of business models and how they impact the success of a company. He compares a good business model to a low-gravity environment, making it easier for a business to thrive, while a bad business model is like heavy gravity, where progress is slow and challenging.
Jim emphasizes the importance of choosing the right business model, as it determines how a company competes, innovates, and serves its customers. He outlines three primary ways businesses can compete: through low-cost leadership, innovation, or customer intimacy.
Jim also discusses the significance of having a compelling offer that makes it nearly impossible for potential clients to say no, highlighting examples of companies that have successfully implemented such offers. Finally, he touches on market positioning strategies, explaining how businesses can defend their position, attack competitors, or find a niche market to dominate.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser, founder of the CEO Project, welcomes Kim Scott, author of "Radical Candor" and "Radical Respect." Kim shares her extensive experience as a CEO coach and faculty member at Apple University, along with her work with tech companies like Dropbox, Qualtrics, and Twitter.
The conversation begins with an exploration of "Radical Candor," a framework that combines caring personally with challenging directly. Kim explains the four quadrants of the framework and highlights the common pitfalls of obnoxious aggression and manipulative insincerity, as well as the more prevalent issue of ruinous empathy.
Kim recounts a personal story about a difficult employee situation, emphasizing the importance of direct and honest feedback to avoid harming both the individual and the team. The discussion touches on the impact of political behavior in the workplace and the detrimental effects of "brilliant jerks" on team performance.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser interviews Mike Melo, the CEO and co-founder of ITA International. Mike shares his journey from being a US Navy Surface Warfare Officer to founding ITA with his wife, Kathy, in 2005. ITA started with a single government contract and one employee, growing to over 300 employees across 20 states and six foreign countries. Mike discusses the challenges and triumphs of building ITA, including maintaining a strong company culture, handling the transition from small to large business, and executing successful acquisitions. He emphasizes the importance of communication, adaptability, and a commitment to company values. Mike also touches on future plans for ITA, including transitioning from owner-operators to a family-run board, and the potential challenges and strategies for exiting or scaling the business.
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Jim Schleckser introduces Kirk Aubry, highlighting their long-standing friendship and Kirk's career trajectory from an ad agency to a Chief Strategy Officer at Textron and now CEO of Savage, a logistics company. Savage, founded 80 years ago by three brothers, has grown from a single truck to a global company with 4,200 team members and 225 locations. They handle the transportation of bulk products, such as petroleum coke and grain, which are critical to their customers' operations.
Kirk discusses the challenges of running a low-margin, capital-intensive business and how Savage has carved out a niche in handling difficult materials. The company owns and operates its own trucks, railcars, and equipment, which differentiates it from traditional logistics businesses. Savage has grown significantly, reaching $4.5 billion in revenue.
One key to Savage's success is their focus on leadership talent, especially at the local operation level. They created the "On Deck" program to train and prepare future managers, ensuring a consistent and scalable leadership pipeline. Kirk emphasizes the importance of a strong cultural foundation, rooted in the company's Vision and Legacy statements, distilled into three guiding principles: Do the right thing, find a better way, and make a difference.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser welcomes Mark Cabrera, the CEO of Saddle Creek Logistics. Mark has been with Saddle Creek for over 20 years, starting as CFO and taking over as CEO a few years ago. He shares insights into managing a family business, the logistics industry's challenges, and the importance of innovation.
Mark explains Saddle Creek’s operations, which span 33 million square feet across the US, employing about 6,000 associates and operating a fleet of 500 trucks. The conversation highlights the dynamic nature of the logistics industry, including labor shortages and the need for innovation driven by escalating labor costs and demographic changes.
The discussion also delves into Saddle Creek's approach to employee development and succession planning, emphasizing the importance of internal promotions and training programs. Mark credits the company's strong culture to its founder's values and the intentional efforts to maintain these through storytelling and leadership behaviors.
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In this episode of The Lazy CEO Podcast, the host welcomes Louise McEvoy, VP of US Channel Sales at Trend Micro, to discuss the growth of channel ecosystems and her experience as an Everest summiteer. McEvoy elaborates on Trend Micro’s mission to secure endpoints, data services, and cloud data for businesses of all sizes. Highlighting the relentless nature of cyber threats, she discusses the importance of AI in enhancing security measures and the significant processing power required to stay ahead of cybercriminals. She also addresses the complexities of ransomware and the dark web, shedding light on the extensive underground networks involved in cybercrime and the necessity for businesses to maintain vigilant and comprehensive security practices.
McEvoy also shares insights into Trend Micro's channel sales strategy, emphasizing the importance of partnering with specialized firms to extend their sales reach and expertise. She explains that while Trend Micro could employ a large direct sales team, leveraging channel partners allows the company to focus its resources on core activities such as threat intelligence and zero-day research. Furthermore, McEvoy advises both businesses and individuals to be cautious about sharing personal information, pushing back against unnecessary data collection, and ensuring robust cybersecurity measures are in place to protect sensitive data.
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In this episode of The Lazy CEO Podcast, host Jim Schleckser delves into the prevalent issue executives, CEOs, and entrepreneurs face in generating sufficient revenue and establishing trust with clients. He is joined by Todd Duncan, a multiple-time New York Times bestselling author and renowned sales leader, who shares his expertise on these topics. Duncan emphasizes the paramount importance of trust in the sales process, highlighting that tension and suspicion can severely hinder successful business relationships. He advocates for a referral-based approach to business, which eliminates call reluctance and fosters excitement, allowing salespeople to focus on nurturing relationships rather than merely closing deals.
Duncan underscores the need for effective communication, advising sales professionals to talk less about themselves and their companies and more about addressing the client's needs. His research indicates that concise sales pitches can significantly boost conversion rates. Furthermore, he introduces the concept of emotional economics, where building an emotional connection with clients can lead to substantial increases in sales and gross margins. The principle of reciprocity, where providing value to clients encourages them to reciprocate with business, is also discussed.
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