Think Like an Owner Michael Curry & Keith Burns - Earn The Right to Lead - Ep.105
My guests on this episode are Michael Curry and Keith Burns who together have acquired 11 diagnostic radiation and other physics services businesses since 2014 through their platform Apex Physics Partners.
This episode is loaded with wisdom and insights. I had a number of alternative titles I considered based on quotes for the conversation like "the CEO of Delta doesn't know how to fly" or "putting out fires with your face." Ultimately, earning the right to lead felt right as we talk extensively about their experience being first-time CEOs in an industry they had no background in, but through it all, they've managed to build an impressive track record at Apex with an ever-growing team.
Over the course of this episode, we discuss the concept of the messy middle between the start and ultimate success of a business, signal versus noise and learning about the company you've acquired, how to know you're a good leader, letting go of control, and building a culture that grows. Enjoy.
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Links:
The Hard thing about Hard things by Ben Horowitz
Topics:
(5:07) - Michael & Keith’s backgrounds
(11:19) - What does a medical physics business look like?
(15:19) - Learning about what you actually bought vs. what you think you bought
(20:17) - Earning the right to lead
(22:33) - How did you figure out where you needed to invest your efforts in repairing relationships with the team?
(28:07) - How do you interpret the “messy middle” of acquiring a business?
(33:14) - Are there key memories where you felt like things were turning in your favor?
(39:33) - Easy choices, hard life. Hard choices, easy life.
(42:34) - How do you let go of people who aren’t a good fit yet are embedded within a small company?
(48:27) - How did you approach hiring people who were smarter than you and giving them control?
(56:14) - What college class would you teach if it could be about anything?
(54:45) - What strongly held belief have you changed your mind on?
(59:40) - What’s the best business you’ve ever seen?