If you’ve ever sat in your leadership seat and struggled with the question, “What is this all for?”, then you’ll relate to this episode. I met Eric Reiger, the Founder and CEO of WEBIT, in the 10 Disciplines Coaching program led by Gino Wickman and Rob Dube. I was immediately drawn to his depth of reflection and the thoughtfulness behind his decisions. Eric truly elevated our conversation today.
Eric Rieger's interview underscores the profound role of a genuine "why" in guiding our decisions as leaders and entrepreneurs. This "why" is different from the one Simon Sinek became famous for. It's deeper. It's the original source behind the motivation and decision-making of the founder, leader, or owner.
Key Takeaways:
- The Power of "Why" in Business Decisions: Eric's journey highlights the pivotal role of a genuine "why" in guiding entrepreneurial choices. Ensuring decisions are rooted in authentic motivations ensures a meaningful and purposeful business path.
- The Transformative Potential of Employee Ownership (ESOPs): Eric's move to introduce an ESOP underscores the value of placing employees at a business's core. Such structures can counteract rising private equity influences, emphasizing the balance between profit and people.
- Personal Growth and Vulnerability in Authentic Leadership: Eric's openness about personal challenges and beliefs showcases the human element in leadership. Embracing vulnerability and introspection fosters authenticity and deeper connections in the entrepreneurial journey.
RESOURCES:
WEBIT Services
Reach out to Eric on Linkedin!
Eric’s phone: 630-870-1088
PODCAST INTERVIEW QUOTES:
15:31 - “Open book management led me to ESOP.” - Eric Rieger
17:57 - “Well, as a child, I was one of those annoying, why, why?” - Eric Rieger
25:08 - “We could go three months with income being completely shut off and still be able to pay our bills. Most companies are three weeks or less.” - Eric Rieger
33:27 - “Being inquisitive has been the catalyst that's brought me to the right people.” - Eric Rieger
43:00 - “If you start poking at their why, they're chasing somebody else's dream.” - Eric Rieger
45:39 - “If you're doing the right things for the right reasons for the right people, the cash will come, right?” - Eric Rieger
INTENTIONAL GROWTH™ RESOURCES:
- Intentional Growth™ Podcast Archives: Archive of 356+ episodes and counting. Get access to the entire library HERE. We'll be adding a searchable tagging feature later on this year.
- IG Financial Scorecard: Get your Intentional Growth™ Score that grades you on how well you are viewing - and running your business like a financial asset. Get your results and 5 case study videos HERE.
- Intentional Growth™ Academy: 71 Videos, 9.5 hours of content, 20+ exercises. $995 for subscribers [normally $1,495] HERE
- Q4 Nov. 2024 Intentional Growth™ Boot Camp: Two-day workshop with 25 other owners on November 8th and 9th in Minnesota at Bethel University. Learn more HERE.
- Minnesota CEO Exchange: Content + Panel, Networking, and Happy Hour with 100 Entrepreneurs. Mark your calendar, it's September 20th. Topic and location TBD. We'll keep you posted and let you know mid July.
- Q3 2023 Economic and M&A Update: with ITR Economics, ButcherJoseph, and the National Center for the Middle Market HERE
