Learn from HoldCo legend Michael Girdley about building a successful HoldCo using the 'Right People, Right Structure, Right Mission' framework. Discover how to set up your business, find the best people, and get everyone excited about the same goal. Explore the joy of building a career around passion and joy and how to connect with like-minded operators for your personal HoldCo.
'Right People, Right Structure, Right Mission' framework focuses on hiring passionate individuals for entrepreneurship.
Adaptable CEO mindset prioritizes effectuation, financial monitoring, and empowering operators for sustainable business growth.
Deep dives
Michael Gurdley's Journey: From Multiple Companies to a Hundred Million Dollar Holding
Michael Gurdley shares his unconventional CEO journey. He admits his strengths lie in the creative and inspirational aspects rather than management. Starting with CodeUp while CEOing another business led him to launch multiple companies, amassing nearly a hundred million in revenue. His unique framework, 'right people, right structure, right mission,' focuses on hiring the right individuals and coaching them to foster an entrepreneurial spirit.
The 'Right People' Approach: Incubating Businesses with Passionate Individuals
Gurdley's 'right people' philosophy emphasizes hiring individuals passionate about entrepreneurship. By incubating businesses with eager candidates who lack resources or entrepreneurial backgrounds, he avoids traditional idea-first approaches. Gurdley's associate model provides coaching and a no-strings-attached experience, enabling aspiring entrepreneurs to explore ideas and ventures that align with their interests.
Navigating Challenges: Pivoting Strategies and Financial Health
Gurdley's adaptability is evident in his willingness to pivot based on market feedback. Encouraging a mindset of effectuation, he remains flexible, transitioning business models to fit market trends. Additionally, diligent financial monitoring and structured board meetings ensure businesses maintain stability and scalability.
Balancing Independence and Support: Cultivating Successful Holdings
By prioritizing the personal growth and autonomy of operators within his holding company, Gurdley fosters a culture of individuality and mission alignment. He emphasizes a decentralized operational structure to accommodate diverse company cultures and values. Moreover, Gurdley's commitment to empowering CEOs and providing strategic support ensures long-term sustainability and operational efficiency.
E75: Michael Girdley (@girdley) needs no introduction. He's a HoldCo legend.
Today, host Yong-Soo (@YongSooChung) sits down with Michael to discuss how he has built a successful HoldCo. We talk about Michael's "Right People, Right Structure, Right Mission" framework, which he uses to build all of his businesses. Michael shares how to find the best people, set up your business the right way, and get everyone excited about the same goal.
On today’s episode, you’ll learn:
- PHC Organization Structure - How to Propel the Business into Gear - How to Build Your Own Holdco of Multiple Businesses - 'Right People, Right Structure, Right Mission' Framework
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*** EXCERPTS:
The Journey: "And what I really discovered was that there's this interesting inflection points in people's lives to when they should sign up to be CEOs of different types of businesses." — Michael Girdley (06:24)
Joyful Career: "I think what people should be doing is thinking about the life they wanna live and the things they wanna be doing, and then build companies around that... joy comes from getting to do things that you really love. So build your business around things that give you joy that you get to do." — Michael Girdley (36:40)
*** First Class Founders is a show for indie hackers, bootstrapped founders, CEOs, solopreneurs, content creators, startup entrepreneurs, and SaaS startups covering topics like build in public, audience growth, product marketing, scaling up, side hustles, holding company, etc.
Past guests include Arvid Kahl, Tyler Denk, Noah Kagan, Clint Murphy, Jay Abraham, Andrew Gazdecki, Matt McGarry, Nick Huber, Khe Hy, and more.