Helping entrepreneurs drive business transformation

In Episode Five, Rob explores business transformation with former CEO of T2 and Dimple, Nick Beckett. Nick has spent 15 years working in fast growth and innovation, applying his expertise in two highly successful companies, T2 and Dimple and working with Founder/Owners. He is proud to have played his part in building sustainable and scalable legacy businesses that have meaning and purpose.

“The founder-led business… this is a business model that I actually love. I love working with these people… the ones who light the fire of opportunity. It's kind of a privilege to be invited into this environment, to fan the flames once the fire's lit.” – Nick Beckett

Listen to discover:

• The effective partnerships Nick made with the founder/owners of T2 and Dimple; acting as a pragmatic foil for creative and driven founders
•  The entrepreneurial character; why emotional intelligence, self-awareness, accepting change and putting trust in others is crucial to working successfully with an external CEO
• ‘It’s very hard to shine when the sun’s still in the room’ – how two entrepreneurs stepped back to allow Nick to gain the trust of others and create change
• How a CEO can show a team that change is a good thing – and break away from the founder’s point of view
• The need to get people who are bigger than you need, because you grow into them and they drag you up to where you need to be. “Get the right people in and around the business. That's part of unlocking the opportunity.”
• How to assess your capability to take the change journey
•  The trigger points to deciding if, or when to bring in somebody external as a CEO… 

1. Is the business in a rut? 
2. Are you feeling overwhelmed and unhappy with what you are doing?
3. Has growth diminished?
4. Are you continually seeing lag indicators?
5. Is profitability flat or diminishing?
6. Is your team continually churning?
7. Do you have far too many direct reports?

“Change can materially improve a business, but it’s not for everyone. New people, new thinking, people with different experience and pedigree need to be brought into the business for it to move forward.”

“If you want to keep winning Grand Finals, you've got to keep curating your list. And curation isn't a destination, it's an ongoing journey. That's part of the reality of growth.”

Take Action

Is it time to take on an external CEO? 

• Consider the trigger points listed above - which do you recognise?

• Think about what you're really good at. Saying, "Okay, if I was only doing this and I could hand all this other stuff across to other people, how much better would this business run and how much happier would I be?" When you focus on what you're good at, you will be happier and the business will be better for it.

• Think about your capacity to let go of control in your business. If you're having challenges with this, reflect on why that's the case. Is it a question of people you've got around you or a reflection on your innate desire to control everything? What are the implications going forward? If you're going to attract and retain A-grade talent, they don't want to work with control freaks.

“In almost every case I've come across, the lead indicator for founder/owners to make a change is a gut feel. The lag indicators are obvious; they point to tangible metrics. But their gut tells them, it's time to do something different - to change gears.”