Think Like an Owner

Launch Series Ep.6: First 100 Days with Sam Krieg & Chris Hendriksen

Oct 3, 2023

Sam Krieg, Co-CEO of Central Storage & Warehouse, and Chris Hendriksen, partner at Pacific Lake Partners, discuss the first 100 days as a CEO, including goal setting, making team changes, building trust, reversible and irreversible decisions, prioritizing problems, transitioning founders, and lessons for new CEOs.

01:13:23

Episode guests

Sam Krieg

Chris Hendriksen

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Building trust and establishing relationships with the team is crucial in the first 100 days as a CEO.

Managing relationships with the seller and founder involves maintaining open communication and seeking their expertise.

Transitioning relationships with customers and key vendors requires careful consideration and prioritizing trust-building.

Deep dives

Building Trust and Getting to Know the Team

In the first 100 days of acquiring the business, Sam and his partner focused on building trust with the team and getting to know them by being genuinely interested in their jobs and lives. They asked questions, listened, and showed a genuine curiosity about the business and people's roles. They also followed through on their commitments and made sure to deliver on their promises. By being present, engaged, and authentic, Sam and his partner were able to build trust and establish themselves as the new leaders.

Introduction

4min

The First 100 Days as a CEO

8min

Reversible and Irreversible Decisions

31min

Identifying and Prioritizing Problems in a Business

3min

Transitioning Founders and the Benefits of a Good Seller Relationship

4min

Lessons for CEOs in Their First 100 Days

20min

Advice for the First 100 Days as a CEO

2min

Ep.191: Alex (@aebridgeman) is joined by Sam Krieg (@sam-krieg) and Chris Hendriksen (@chris-hendriksen).

Today is the 6th episode in our Launch Series, a partnered episode series with Pacific Lake Partners and Trilogy Search Partners on preparing for the CEO role as a search fund. This conversation centers around a CEO’s first 100 days in the company post-acquisition, and I’m joined by Sam Krieg, Co-CEO of Central Storage & Warehouse, and Chris Hendrikson, partner at Pacific Lake Partners and former CEO of VRI.

We talk about the key objectives new CEOs should approach the business with, important frameworks for making decisions, how to authentically get to know your team and business, the role of the founder and your investors, and so much more. Please enjoy this episode on the first 100 days, and check out our earlier Launch episodes as they complement this discussion well.

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

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Links:

Sam on LinkedIn

Chris on LinkedIn

CSW

Pacific Lake Partners

Trilogy Search Partners