The CEO Project Podcast

In this episode of The Lazy CEO Podcast, host Jim Schleckser discusses the considerations and preparations entrepreneurs should undertake before selling their businesses. Schleckser emphasizes the importance of viewing the process as a trade of asset classes rather than a simple sale. He highlights key factors to address well in advance, including the quality of the executive team, the protection of key team members through contracts, and the necessity of making oneself less critical to daily operations. Additionally, Schleckser delves into the significance of having reviewed or audited financials and the need to present potential upside and opportunities for the buyer to maximize the business's value. The podcast discusses earn-outs and the implications of hanging around after the sale. Overall, the episode provides valuable insights for entrepreneurs contemplating the sale of their companies.

In this episode of The Lazy CEO Podcast, host Jim Schleckser welcomes Cheryl Lynn Mobley, founder of reCalibrate. Cheryl shares her unique journey that led to the creation of her book, which blends her experiences on a safari with valuable leadership lessons. The conversation revolves around the challenges organizations face today. Cheryl highlights the issue of organizations heading in the wrong direction at a high velocity, often driven by the desire to please everyone. She observes that leaders can feel held hostage by various stakeholders, leading to exhaustion and a lack of clarity in organizational goals. To address this problem, Cheryl emphasizes the need for leaders to make a courageous decision to change the status quo. They should redefine their organization's purpose and be clear about what they exist to do. This clarity will help save time and energy by guiding decision-making. Cheryl also advises leaders to have frank conversations with their teams and commit to sticking with the chosen path, even in the face of resistance. Ultimately, the podcast discusses the importance of leaders being willing to make tough choices and stay focused on their organization's purpose, even if it means some individuals may opt-out. Cheryl's insights provide valuable guidance for leaders navigating the complexities of today's business landscape.

In this episode of "The Lazy CEO Podcast," host Jim Schleckser welcomes Ryan Dahnert, the CEO of Plymold, a manufacturer of furniture and fixtures for commercial service. Ryan discusses the journey of his company and the challenges he faced as a first-time CEO. Here are the key points discussed in the podcast: 1. Plymold's Business: Plymold manufactures furniture and fixtures primarily for commercial service, focusing on fast-food restaurant chains, travel stops, and more. The company has been in business for 75 years and has been employee-owned since 1992. 2. Reorganization Process: Ryan describes the reorganization process he initiated after becoming CEO in 2019. At the time, the company had five different business divisions with varying customer bases and product offerings. They decided to focus on what they were truly great at, which was metal frame furniture fixtures combining steel, wood components, upholstery, and laminate materials. 3. Challenges During COVID-19: The podcast discusses how Plymold navigated the challenges brought about by the COVID-19 pandemic. Initially, their primary clients in the quick-service restaurant industry were severely impacted. However, they adapted by focusing on remodeling and adapting to changing market conditions. 4. Lease Negotiations: Ryan shares a successful negotiation experience regarding a lease for a facility they no longer needed, highlighting the importance of assessing the unique situation and being assertive in negotiations. 5. CEO Project Support: Ryan credits his involvement in the CEO Project, a peer group for CEOs, as a valuable source of support and guidance during challenging times. The group provided insights and helped him make critical decisions for the company's future. 6. Dealing with Tragedy: The episode also touches on the personal tragedy of losing a key team member, which was a difficult experience for Ryan and the company. They discuss how Plymold worked through the grieving process and supported their team during this challenging time. The podcast highlights the importance of focus, adaptability, and seeking support from peers and mentors in navigating the complexities of running a business and facing unexpected challenges.

Dive into the complexities of executive compensation and contracts. Discover how base salaries, bonuses, and long-term incentives align with company goals. Learn about Restricted Distribution Units and their tax implications. Explore the significance of robust employment contracts, focusing on termination rights and confidentiality. Delve into the importance of non-disparagement clauses that protect both executives and companies. Uncover how transparent bonus structures can enhance performance and ensure fair compensation.

In this episode of The Lazy CEO Podcast, host Jim Schleckser, CEO of the CEO project, welcomes Richard Routh, an expert in the field of AI from Tri 7 Services. They discuss the impact of AI on business, regulations, technology, jobs, and more. Richard begins by explaining the concept of AI, dating back to the 1950s, where the goal was to make machines intelligent like humans artificially. He highlights early AI successes, such as chess-playing programs and the development of speech recognition like Siri and Alexa. Richard goes on to discuss how AI has become a part of our daily lives, from search engines like Google to self-driving cars. He also delves into the recent breakthrough in AI, which involves large language model solutions like GPT-3, where neural networks are trained on vast amounts of data to generate human-like text and responses. Richard emphasizes the enormous potential of generative AI, including advancements in healthcare, business analysis, political strategies, and military operations. Jim and Richard explore why generative AI gains a competitive advantage, thanks to its ability to access and integrate vast amounts of data at a scale beyond human capability. However, they also acknowledge the need for caution, as AI systems can produce hallucinations, requiring human oversight and careful deployment to avoid unintended consequences. They conclude by mentioning the concerns of experts like Elon Musk and the potential risks associated with advanced AI systems like Skynet, as portrayed in popular culture.

In this episode of The Lazy CEO Podcast, host Jim Schleckser interviews Raven Solomon, an expert in the field of diversity, equity, and inclusion (DEI). Raven shares her journey into DEI, drawing from her experience managing diverse teams early in her career at PepsiCo. She highlights the importance of understanding generational differences and how leadership approaches can vary based on different age groups. Raven introduces the concept of "lead language," where each generation has a primary way they prefer to receive leadership. Raven discusses how Gen Z is the most racially and ethnically diverse generation, emphasizing their desire for transparency, authenticity, and accountability in organizations. She explains the significance of developing a diversity, equity, and inclusion (DEI) strategy that encompasses the workforce, workplace, marketplace, supplier base, and community engagement. Raven emphasizes that DEI should be seen as a business imperative, not just a moral obligation and that educating leaders about its benefits is crucial. The episode touches on the challenges of getting buy-in for DEI initiatives, with some leaders viewing them as threats. Raven suggests that education, awareness, and a shift in perspective can help leaders see DEI as an opportunity rather than a challenge. The conversation also explores whether DEI training should be mandatory in organizations. Overall, the episode provides insights into the importance of DEI in today's workplace, how it can benefit businesses, and the strategies that organizations can adopt to attract, retain, and engage diverse talent effectively.

In this episode of The Lazy CEO Podcast, host Jim Schleckser interviews JV Crum, the founder of Conscious Millionaire, who is known for bringing elements of Tony Robbins' mental state and mindset teachings into the business world. Crum discusses how he helps entrepreneurs and professionals elevate their performance and achieve a sense of abundance. He describes his own journey, including a phase of achieving financial success but feeling empty, which led him to seek a deeper purpose. Crum introduces a model with seven levels of mindset and performance, starting with "Infinite Abundance," where most people operate from a scarcity mentality. He explains that his approach goes beyond conventional high performance and aims to help individuals tap into a higher level of consciousness to unlock their potential. He discusses the importance of shifting one's identity and embracing possibilities to achieve desired outcomes. Crum also touches on the concept of "flow" and the three distinctions of flow, offering listeners an opportunity to explore these ideas further. Overall, the episode explores how individuals can transcend limiting beliefs and tap into their full potential to achieve success and make a positive impact on the world.

In this episode of the Lazy CEO Podcast, host Jim Schleckser welcomes guest Mitch Joel, a luminary in visionary thinking, digital marketing, and professional travel. They discuss Mitch's diverse portfolio of projects, including his startup, Thinkers One, which connects businesses with thought leaders for personalized thought leadership content. They explore the evolving landscape of remote work and its impact on company culture and productivity. Mitch emphasizes the importance of defining the context of work and suggests that certain tasks are better suited for in-person collaboration, while others can be done remotely. They also delve into the role of social media in corporate marketing, with Mitch highlighting the shift towards a balance between brand storytelling and direct response marketing. He points out that while direct response marketing can yield immediate results, building a strong brand story is crucial for long-term success and differentiation in the market.

In this episode of The Lazy CEO Podcast, hosted by Jim Schleckser, the discussion revolves around the crucial yet often overlooked topic of corporate culture. Jim emphasizes the significance of company culture and its impact on various aspects of business, including mergers and acquisitions. Jim begins by defining culture as "how we do what we do" and explains that it encompasses how organizations think about their work. He highlights that culture plays a vital role in attracting talent, making partnerships, and determining the success or failure of mergers. He identifies several measurable factors that define a company's culture: 1. Formality: The level of formality within the organization, encompassing dress code, hierarchy, vocabulary, and communication styles. 2. Analytics: The extent to which data is used for decision-making, ranging from intuitive decision-making to data-driven approaches. 3. Transparency: How open the organization is with sharing data, including financial information, with its employees. 4. Team vs. Individual: Whether the company emphasizes teamwork or individual performance in its culture. 5. Performance Tracking: The rigor with which the organization tracks and measures individual and team performance. 6. Innovation and Curiosity: The organization's attitude toward seeking new solutions and continuous improvement. 7. Frugality: The company's approach to spending and resource allocation, from being cost-conscious to more liberal in spending. 8. Humor: The role of humor in the workplace, ranging from serious and formal to lighthearted and fun. 9. Conformity: The degree to which employees are expected to conform to established norms and practices. Jim concludes by emphasizing the importance of cultural alignment in mergers and acquisitions and how mismatches in these cultural factors can lead to the failure of such endeavors. Understanding and measuring these cultural aspects is vital for business leaders to make informed decisions about partnerships, acquisitions, and organizational development.

In this episode of The Lazy CEO Podcast, host Jim Schleckser discusses the dynamics of running a business and the choice between being a "king" or being "rich" with his guest Julie. The central question is whether business owners prioritize holding onto control and maintaining their ego-driven leadership style (being a "king"), or if they focus on scaling the business and generating wealth (being "rich"). The conversation revolves around the challenges and decisions faced by founders as their businesses transition from lifestyle-oriented to growth-focused. Julie highlights that this dilemma is particularly relevant for founder-led businesses at the crossroads of scaling successfully or reverting to a lifestyle-oriented model. The tension between ego-driven leadership and the desire for financial success often influences decisions that can impact the business's direction. The "king" aspect involves maintaining a leadership persona, often tied to personal identity, recognition, and control. The "rich" aspect relates to building wealth and implementing systems for sustainable growth. The discussion also touches on the significance of a company's mission and values, and how these can reflect the owner's ego-driven tendencies or commitment to scaling for wealth. The podcast delves into the impact on hiring decisions, emphasizing how the types of salespeople and executives chosen can determine the success of the chosen path. The importance of hiring individuals who are motivated by scaling and wealth creation rather than personal recognition or hierarchy is highlighted. Julie provides examples of business owners who have successfully transformed their businesses by shifting their focus from ego-driven leadership to growth-oriented strategies. The conversation concludes with a discussion about the traits of individuals who are well-suited for a growth-focused environment, including their willingness to bet on themselves, their ability to lead by doing, and their desire to take on higher-stakes risks for the sake of business growth. The idea that building wealth benefits everyone involved in the business journey is also emphasized.