Think Like an Owner

Savneet Singh - Leading a Public Turnaround at PAR Technology - Ep.252 [Replay]

Dec 10, 2024

Savneet Singh, the CEO of PAR Technology, is known for his impressive turnaround of the publicly traded company. He reveals insights on managing crises in leadership, emphasizing urgency and adaptability. Savneet discusses innovative incentive models and the importance of structured communication within teams. He highlights his evolving view on mergers and acquisitions and stresses the core role of education in leading effectively. His unique management techniques foster a collaborative and data-driven corporate culture, essential for navigating software transformations.

48:19

Episode guests

Savneet Singh

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Episode notes

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Quick takeaways

Savneet Singh emphasizes the importance of cultural turnaround at PAR Technology, focusing on speed, ownership, and creating an urgent work environment.

The decentralized organizational structure at PAR empowers individual business units, fostering accountability and accelerating decision-making to enhance overall performance.

Healthy tension is crucial in Singh's leadership, helping teams balance priorities and encouraging value-driven discussions to maintain alignment with shared goals.

Deep dives

Transitioning Leadership and Culture at Par Technology

Savneet Singh's journey to becoming the CEO of Par Technology began unexpectedly when he was invited to the board amidst the company’s struggles. Initially drawn to Par's software potential, he quickly realized that the company faced significant challenges, including employee dissatisfaction and product mismanagement. He emphasized the need for a cultural turnaround, focusing on urgency and decisive action to stabilize the organization. Under his leadership, a clear transformation plan was initiated that included making tough decisions about layoffs and renegotiating financial agreements, which ultimately helped Par navigate a precarious situation.

Intro

2min

Navigating Leadership Challenges

22min

The Crucial Role of Education in Leadership and Decision-Making

2min

Cultivating a Data-Driven and Collaborative Corporate Culture

5min

Navigating Leadership in Software Transformations

9min

The Core of Effective Product Management

2min

Effective Leadership and Team Communication in Product Development

5min

Ep.252: Alex (@aebridgeman) is joined by Savneet Singh (@SavneetS).

My guest today is Savneet Signh, CEO of PAR Technology, a billion-dollar market cap publicly traded point of sale software business serving the restaurant industry. I’ve been following Savneet’s career since college when he went on Invest Like the Best talking about acquiring software businesses through his holding company Tera. Through that work he connected with PAR, joining the board and eventually replacing the CEO. Since then he’s turned the business around and is finding more success.

Savneet and I talk about turning around teams, management techniques he’s developed, his role as a teacher and chief communicator at PAR, and his views on software businesses from an investor perspective.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

Learn more about Alex and Think Like an Owner at https://tlaopodcast.com/

Links:

PAR

An Excellent Puzzle by Will Larson

Topics:

(00:00:00) - Intro

(00:02:09) - Joining the board of Par, becoming CEO, and saving the company from bankruptcy

(00:12:14) - Retaining speed over time

(00:14:28) - Stages of structural changes

(00:16:55) - Nurturing healthy tension

(00:18:38) - Incentive models

(00:23:36) - What have you learned about your role in making hard decisions?

(00:27:14) - Communication styles

(00:30:40) - What does a typical week look like for you?

(00:32:30) - How has your view of M&A changed?

(00:34:51) - What distinguishes a great product?

(00:36:08) - Is being the all-in-one solution becoming the trend in SaaS?

(00:38:08) - What stands out as a trend in software right now?

(00:40:30) - Takeaways from running and growing product teams

(00:42:05) - Communication between sales or product and customers

(00:43:18) - Advice to listeners

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Think Like an Owner

Savneet Singh - Leading a Public Turnaround at PAR Technology - Ep.252 [Replay]

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Transitioning Leadership and Culture at Par Technology

Creating a Sense of Urgency and Core Values

Decentralized Structure for Enhanced Decision-Making

Healthy Tensions in Strategy Execution

M&A Insights and the Importance of Culture

Remember Everything You Learn from Podcasts