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Listen "42 - From Expenses to Assets: Rethinking Your Approach to Workforce Investment"
Episode Synopsis
In this episode, hosts Mike Lantz and Josh Hauser broadcast from their new studio at Launch Fishers, sharing personal stories before diving into the importance of leadership teams in business. They explain how a strong leadership team can significantly boost a company's valuation, especially when preparing for sale. The hosts introduce the first steps of a seven-step talent planning process: aligning future organizational charts with company vision and identifying pivotal roles. Emphasizing people as strategic investments, they encourage business owners to proactively develop talent and leadership for long-term growth and value. Moving to the New Studio (00:00:08) Mike and Josh discuss relocating to their new studio at Launch Fishers and share anecdotes about the area. Concert Stories and Personal Anecdotes (00:02:21) The hosts share memorable concert experiences, including stories about Guns N' Roses, Aerosmith, and the Eagles. Earth, Wind & Fire and Family Memories (00:05:00) Mike recounts attending Earth, Wind & Fire concerts with his father and the significance of those memories. Transition to Business Sale Preparation (00:06:39) The conversation shifts to business topics, focusing on preparing a business for sale and the importance of planning. Valuation and Leadership Teams (00:07:55) Discussion on how a strong leadership team can increase business valuation, especially in the context of EBITDA multiples. Risks in Business Sales (00:10:15) Exploring transition risk, operational dependence on the owner, and execution risk when selling a business. People as Investment vs. Expense (00:12:25) Emphasizing the importance of viewing people as an investment rather than an expense in business growth. Talent Planning and Organizational Vision (00:14:39) Introduction to talent planning steps, including aligning future organizational charts with the company vision. Identifying Pivotal Roles (00:18:38) Defining and identifying pivotal roles within the organization that are critical to strategic success. Recap and Next Steps (00:21:14) Summarizing the first two steps of the seven-step process and previewing future episodes.
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