Vern Davenport, a partner at QHP Capital, and Michael Curry, co-chairman of Lullwater & Co., explore how structured management systems can enhance leadership effectiveness. They discuss the importance of empowering middle management and fostering accountability within teams. Vern emphasizes that streamlined problem-solving tools, like the A3 format, lead to better communication and alignment. Michael shares insights on overcoming the fear of structure, revealing that a well-defined framework can actually drive growth and success. The conversation highlights the significance of joy and fulfillment in the workplace.
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question_answer ANECDOTE
Running a Business Without a System
Michael Curry and Keith Burns, partners at Lullwater & Co., bought Kruger Gilbert Health Physics in 2014.
They ran the business for three years without a system, describing it as "putting out fires with their faces."
question_answer ANECDOTE
The Genesis of the Management System
Vern Davenport's first CEO role was at Mises Healthcare, a company that had lost its way.
He found the monthly 75-page board books unhelpful and resource-intensive, leading him to seek a better system.
volunteer_activism ADVICE
CEO Buy-in is Crucial
Ensure the CEO buys into the management system; it must be theirs, not imposed.
Successful implementation requires CEO commitment and discipline, not just reporting.
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Want more freedom? Get more structure and discipline. Many founders resist structure, fearing it will slow them down. In reality, a well-defined system brings clarity, accountability, and autonomy. As an SMB founder, Michael knows firsthand that clear roles and a problem-solving framework allow companies to move faster and focus on growth instead of firefighting. Vern describes The Management System as liberating. It removes dysfunction and unnecessary complexity, creating an environment where talented people can thrive.
Middle management is the backbone of scalable companies. Great companies scale by empowering middle management, not by keeping decisions at the top. The Management System ensures that middle managers understand the bigger vision, their role in achieving it, and how their success is measured. And if someone resists this level of accountability and transparency, the system reveals it fast.
Efficient teams track fewer metrics—and get more done. Vern suggests ditching 50-slide reports for clear, actionable tools. Tracking sheets keep teams focused on 10 or fewer key metrics—green means you’re on track, red means it’s time to act. Tools like the A3 condense problem-solving into a one-page plan outlining the issue, root cause, and next steps. With these tools, teams leave meetings not just informed, but aligned and ready to execute.
Teamwork makes the dream work. Podcasts and books often highlight solo journeys to success, but Michael emphasizes that true success comes when a team unites for something bigger than themselves. What matters more than personal wins is a shared mission and a willingness to support each other through the highs and lows. When a group shares that purpose, success follows naturally.
Recommended Reads from This Episode
“Accelerating Growth” by Vern Davenport: Unpacks how a structured system can help companies scale by improving execution, accountability, and leadership alignment.
“Getting the Right Things Done” by Pascal Dennis: Teaches how to apply lean management principles to eliminate inefficiencies.
“The Founder’s Dilemma” by Noam Wasserman (Harvard Business Review article): Explores the trade-off between control and financial success that founders face as they scale.
About Vern Davenport
Vern Davenport is a partner at QHP Capital, a growth equity firm focused on tech-enabled life sciences and pharma services. He created The Management System, a structured framework designed to scale businesses. With executive leadership experience at Misys Healthcare, Medfusion, M*Modal, and Allscripts, Vern specializes in business transformation and operational execution.
About Michael Curry
Michael Curry is the co-chairman and co-CEO of Lullwater & Co., an investment firm specializing in entrepreneurship through acquisition. A search funder turned investor, he is an experienced operator in the healthcare space. Michael scaled a healthcare services company through M&A and is now focused on building the next stage of his investment firm.
Disclaimer:
The opinions expressed herein are those of QHP Capital, L.P. (“QHP Capital”) and are subject to change without notice. Past performance is not indicative of future results. QHP Capital is a registered investment adviser with the U.S Securities and Exchange Commission. Registration does not imply a certain level of skill or training.
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