The Capital Stack Bill Horne Turnaround CEO of over 10+ Companies on Why Founders Fail and What to Do About It
Jan 2, 2024
Join Bill Horne, a 10-time CEO and founder of 88 Keys, as he shares his expertise in revitalizing struggling companies. He reveals how founders leaving can devastate company value through cultural shifts. Horne discusses common pitfalls like inadequate operational planning and emphasizes the significance of clear execution strategies. He highlights the importance of mentorship for young CEOs and the critical role of navigating investor relations, showcasing how transparency can lead to growth.
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Career As The Fixer CEO
- Bill Horne describes his career as a “fix it” CEO who steps into troubled companies to determine if a business can be saved.
- He compares his role to turning a builder's sticks into a finished home and accepting he won't win a popularity contest.
Founder Exit Often Less Damaging Than Feared
- Founder departures often cause less value destruction than expected because founders frequently burn bridges with staff.
- The hardest person to change is the CEO and coexisting with them is the most difficult scenario.
Always Build A Detailed Operational Plan
- Do create a clear operational plan before investing or expanding; Bill says 100% of failing companies lacked one.
- Use the plan to align the team and investors around measurable objectives.