Think Like an Owner

My guest today is Mahesh Rajasekharan, CEO of Cleo, a software platform for supply chain system integrations. A few months ago I asked a few friends which sales-focused CEO they admired most and they all unanimously said Mahesh. With Mahesh at the helm, Cleo has grown from a single-digit ARR business in 2012 to nearly $100 million in ARR today, with even greater ambitions for the future. He has built some of the most robust and high-performing sales and product teams I've seen and is a value-adding investor and advisor to many other CEOs.

Mahesh and I talk about the story of Cleo and how they drive customer value, pivot points along the growth journey, building best-in-class sales and product orgs, growth while remaining profitable, private equity ownership, and so much more. Please enjoy this fantastic conversation with Mahesh Rajasekharan.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

I want to tell you about our audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it. After 30 days we are giving $250 cash to 4 survey responders, just add your email at the end of the survey.

Take the survey here: https://bit.ly/3QLBB1N

Links:

Cleo

Mahesh on LinkedIn

Topics:

(00:04:06) Cleo and how Mahesh has evolved the business

(00:11:37) Identifying customer needs

(00:14:04) Growing and coordinating a product team

(00:18:17) Communicating with customers

(00:21:20) Building and scaling a Sales organization

(00:37:15) How the CEO role has changed

(00:39:02)Self-evaluation

(00:42:49) Defining profitable growth

(00:48:56) Themes for companies who can't become profitable

(00:52:17) An example of a project that wasn't working initially but learned it would down the road

(00:54:13) Experiences as a private equity-backed CEO

(00:58:21) The most enjoyable part of the CEO role

(00:59:27) M&A

(01:03:47) Advice for software CEOs in scaling

Ep. 194: Alex (@aebridgeman) is joined by Coley Andrews (@coley-andrews) and Mitch Cohen.

This is the final episode in our Launch Series with guests Coley Andrews and Mitch Cohen, partners at Pacific Lake and Trilogy, respectively. Through this series we have talked about industry research, starting your search, working with sellers, legal diligence, first 100 days, and more.

Today's conversation touches on the spirit of search and the collaboration and mentorship that comes from the search community. Coley and Mitch also describe what makes a good board member, leaning on your board and investors, evolution of search as a model, and so much more. Please enjoy this final Launch episode with Coley and Mitch.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

I want to tell you about our audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it. After 30 days we are giving $250 cash to 4 survey responders, just add your email at the end of the survey.

Take the survey here: https://bit.ly/3QLBB1N

Links:

Pacific Lake Partners

Trilogy Search Partners

Launch Ep #1

Launch Ep #2

Launch Ep #3

Launch Ep #4

Launch Ep #5

Launch Ep #6

Topics:

(00:00:00) - Intro

(00:04:31) Why Mitch and Coley went into Search

(00:12:10) The impact of mentors

(00:16:35) Creating a culture of mentorship, patience and empathy

(00:30:14) Mentorship as a board member

(00:43:23) How the highest performing CEOs interact with their boards

(00:49:11) Most helpful questions to ask your board

(00:53:35) Board involvement in hiring decisionos

(00:58:08) Changes and challenges in the Search Fund industry

Ep.193: Alex (@aebridgeman) is joined by Jehiel Oliver (@Jehiel).

My guest today is Jehiel Oliver, founder and CEO of Hello Tractor, a farming equipment rental platform serving farms across Africa. Jehiel has an amazing blend of energy, excitement, and tenacity that is hard to find and energizing to be around. Jehiel and I talk about how he influences behaviors in creating new markets, training markets, capital strategy through growth, and growing in his role through vulnerability. Please enjoy this fantastic episode with Jehiel Oliver.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

I want to tell you about our audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it. After 30 days we are giving $250 cash to 4 survey responders, just add your email at the end of the survey.

Take the survey here: https://bit.ly/3QLBB1N

Links:

Hello Tractor

Jehiel on Twitter

Topics:

(00:00:00) Intro

(00:02:57) Getting into the tractor business and the business model for Hello Tractor

(00:07:01) Influencing behavior

(00:09:15) Maintaining trust

(00:11:05) The most challenging parts of service

(00:13:53) Entering new markets

(00:17:33) Experimenting with incentives

(00:18:56) Costs & operating leverage

(00:22:11) Fostering speed amongst the team

(00:25:27) Vulnerability in the CEO role

(00:28:01) Working through key challenges

Ep.192: Alex (@aebridgeman) is joined by Chris Powers (@fortworthchris).

My guest today is Chris Powers, founder and chairman of Fort Capital, an industrial real estate investor based in Fort Worth, TX. Chris is also the host of The Fort Podcast, which I was a guest on just last week and we'll link to that episode in the show notes. Chris has built an amazing real estate firm and recently promoted his business partner Jason to CEO so he could step into a chairman role. We talk primarily today about his role as a leader in Fort, but we also recorded an episode together a few years ago with a focus on his investing strategy — episode 70 from June 2021.

This discussion centers around what he's learned running Fort, both as CEO and Chairman, including tactics and strategies that have been effective, how organizations scale, looking up to peer businesses and modeling the path there, identifying what you're good at, and mentorship.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

I want to tell you about our audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it. After 30 days we are giving $250 cash to 4 survey responders, just add your email at the end of the survey.

Take the survey here: https://bit.ly/3QLBB1N

Links:

Chris on Twitter

The Fort Podcast

Alex's appearance on The Fort

Fort Capital

Chris' first appearance on TLAO

Topics:

(00:00:00) Intro

(00:05:11) Chris' elevator pitch

(00:06:22) What drives your passion for thinking?

(00:07:45) Are there any companies or people you study and learn from?

(00:10:10) Are there any common mindsets at places like Berkshire and Blackstone?

(00:13:06) What feels risky to Fort Capital that wouldn't feel risky to a Blackstone?

(00:14:47) Are there any dangers to studying people or companies who are 10-20 steps ahead of you?

(00:17:19) How do you identify "your way"?

(00:20:09) How did focusing only on industrial real estate lead to massive growth?

(00:27:09) What do you notice from folks who remain as the CEO as they get from 0 to 1?

(00:29:11) Fear of delegation

(00:35:20) How has the flywheel spun since you stepped out of the CEO role?

(00:39:03) What have you done to sideline your ego in decision-making

(00:42:58) Where have you drawn the line between your decisions and those of the CEO?

(00:46:50) What have you learned about healthy disagreement?

(00:48:43) How do you get people to understand that disagreements aren't personal?

(00:51:43) What are some ways you've found to be an effective mentor?

(01:01:02) Chris' experience with executive coaching

(01:04:30) What skill are you hoping to achieve over the next year?

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.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

I want to tell you about our audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it. After 30 days we are giving $250 cash to 4 survey responders, just add your email at the end of the survey.

Take the survey here: https://bit.ly/3QLBB1N

Links:

Sam on LinkedIn

Chris on LinkedIn

CSW

Pacific Lake Partners

Trilogy Search Partners

Launch Ep #1

Launch Ep #2

Launch Ep #3

Launch Ep #4

Launch Ep #5

Topics:

(00:00:00) Intro

(00:04:54) Chris and Sam's experiences in the first 100 days as CEO

(00:07:43) Goals for CEOs to have in their first 100 days

(00:11:03) "Do no Harm" vs. making team changes early in a CEO's tenure

(00:23:42) Building trust with key players and the company

(00:30:44) Accelerating learning of how the business works

(00:41:38) Mapping out ways to alleviate problems within the business

(00:47:02) Working with the founders on a transition plan

(00:52:39) How CEOs can transition trusting relationships with customers and key vendors to new owners

(00:58:47) Where you can learn on your board and investor group

(01:07:03) When to start having formal board meetings

(01:09:30) Closing advice

Ep.190: Alex (@aebridgeman) is joined by Felix Brooks-Church (@felixbc).

My guest is Felix Brooks-Church, CEO of Sanku, which helps local mills across Africa produce fortified food, primarily flour, via their machines and technology.

Felix was introduced to me by David Dodson, co-founder and chairman of the board at Sanku. Sanku has a fascinating origin story, which includes a stint in Nepal, refining the technology, and is now a quickly growing enterprise that has required a ton of learning on Felix's part to adapt his role to the growing company. Felix and I talk about how he's adapted his role, leaning on the board for feedback and advice, sustaining growth, and building discipline.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

I want to tell you about our audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it. After 30 days we are giving $250 cash to 4 survey responders, just add your email at the end of the survey.

Take the survey here: https://bit.ly/3QLBB1N

Links:

Felix on LinkedIn

Sanku

Sankhu village in Nepal

Topics:

(00:00:00) Intro

(00:04:03) Themes observed across decades of life

(00:08:26) Shifting from an inward focus to an outward focus

(00:09:39) Experiences that prepare you for a Leadership role

(00:11:41) Influences on the mission of Sanku

(00:14:21) The inspiration for fortifying flour as the core of the business

(00:17:29) The Sanku business model

(00:22:46) Takeaways from working in Nepal

(00:29:44) Themes & learnings as a CEO

(00:34:34) Building out an executive team & hiring best practices

(00:42:41) Risk tolerance

(00:44:05) Leaning on peers for support

(00:47:22) What strongly held belief have you changed your mind about?

(00:51:03) What's the best business you've ever seen?

Ep.189: Alex (@aebridgeman) is joined by Dave Thrasher (@dave-thrasher).

My guest on this episode is Dave Thrasher who along with his family in Omaha owns Thrasher, a foundation repair business with three core business units: a wholly owned foundation repair brand, an acquisition strategy of non-Thrasher branded services businesses, and Supportworks which sells industry products and offers training to customers on running more successful businesses. It's a fascinating collection of family-owned businesses with no intention of selling.

We talk about how their never-sell mentality influences the use of debt, and profitability while scaling, and how it's changed Dave's role as CEO over time. Please enjoy my episode with Dave Thrasher.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

I want to tell you about our audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it. After 30 days we are giving $250 cash to 4 survey responders, just add your email at the end of the survey.

Take the survey here: https://bit.ly/3QLBB1N

Links:

Thrasher Group

Thrasher Foundation Repair

Supportworks

The Ideal Team Player by Pat Lencioni

Great by Choice by Jim Collins

Books by Dr. Henry Cloud

Steve Jobs by Walter Isaacson

The Infinite Game by Simon Sinek

Topics:

(00:03:57) The timeline of the Thrasher family businesses and how they interact with each other

(00:10:05) Thrasher's acquisition strategy & mindset changes to fast track growth

(00:13:41) Ongoing evolutions to Dave's role to become more effective

(00:18:04) Transition points in Dave's role as the business has grown

(00:20:34) Self-evaluation strategies

(00:22:07)Lessons from being an effective CEO

(00:23:58) Becoming more comfortable with giving and receiving feedback

(00:27:41) Finding the balance between growth and profitability

(00:33:02) Becoming an effective user of debt

(00:34:58) Developing a 100-year plan for a business

(00:39:03) Headcount driving revenue vs. revenue driving headcount

(00:41:28) What to look for in hiring

(00:46:00) How core values from Thrasher are aligned with acquired companies

(00:48:14) Questions to ask when determining if a potential acquisition will be a good fit

(00:52:32) M&A rabbit holes

(00:55:40) Overcoming deal fatigue

(00:57:32) What's a strongly held belief you've changed your mind on?

(00:59:28) What's the best business you've ever seen?

Ep.188 - Alex (@aebridgeman) is joined by Edward Coady (@EdwCoady).

My guest on this episode is Edward Coady, CEO of Mainely Grass, a Chenmark-owned company he is taking over leadership for from former CEO and past podcast guest Palmer Higgins. Edward joined Chenmark through their GVP (Generalist Vice President) program, the same way past guests Sean Joy and Philip Hussey joined their Chenmark companies as CEO. The GVP program is Chenmark's CEO accelerator program to get folks first experience in a portfolio company and then as CEO of a new acquisition or current company.

Edward and I discussed designing high conversion website design, his new CEO role and early lessons, Chenmark's GVP program, repetition, and much more.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

Links:

Edward on Twitter

Mainely Grass

HotJar

Sunday Lawn Care

Topics:

(00:03:26) Edward's experience transitioning from CFO to CEO

(00:12:23) -The Sales Funnel and implementing content marketing

(00:18:13) The reason for not adding mowing as a service

(00:21:53) Optimizing for customers to take action

(00:23:25) HotJar

(00:26:32) Where Edward looks to improve the organization's website

(00:28:32) Systematic approaches to getting feedback

(00:31:36) A/B testing as the CEO

(00:33:19) Edward's main areas of focus

(00:44:49) Process improvements that need to wait for implementation

(00:46:57)How Edward plans out his tasks

(00:49:43) What are you most excited for?

(00:51:09) What's a strongly held belief you've changed your mind on?

(00:54:19) What's the best business you've ever seen?

I want to tell you about our audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it. After 30 days we are giving $250 cash to 4 survey responders, just add your email at the end of the survey.

Take the survey here: https://bit.ly/3QLBB1N

Ep.187: Alex (@aebridgeman) is joined by Scott Alderman (@Scott-Alderman) and Alex Temel (@AlexanderTemel).

Today's episode is the fifth in our Launch Series, in partnership with Trilogy Search Partners and Pacific Lake Partners. This discussion focuses on the deal structuring and legal diligence process in a search acquisition, and I'm joined by Scott Alderman, partner at Trilogy, and Alex Temel, partner at law firm Sidley Austin, for the conversation.

During the episode we cover the key steps in the legal process, timeline, how to mitigate risk, working with sellers, staging, reps and warranties, and much more. We broke the conversation into the key stages of a deal and special considerations to make along the way and ended with advice for entrepreneurs when working with legal counsel.

Finally, if you haven't already, be sure to listen to our four previous episodes on industry research, starting a search, the diligence process, and working with sellers.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

Links:

Scott on LinkedIn

Alex on LinkedIn

Sidley Austin LLP

Trilogy Search Partners

Pacific Lake Partners

Launch Ep #1

Launch Ep #2

Launch Ep #3

Launch Ep #4

Topics:

(00:05:01) LOIs: Key components and legal timelines

(00:16:36) Pitfalls in Pre-LOI Due Diligence

(00:20:09) What happens between the LOI and drafting a purchase agreement

(00:22:49) Ways to reduce risk in the legal process

(00:26:35) How to avoid conflict between parties

(00:32:57) Reps, warranties, and covenants

(00:38:58) Where to hold your ground and where to make compromises

(00:40:52) Economic drivers of a business

(00:43:10) Most frequent deal-killers

(00:45:27) Adjusting processes and cadences based on the experience of the seller and their advisors

(00:49:59) Helpful advice for entrepreneurs working with attorneys

Ep.186: Alex (@aebridgeman) is joined by Brian Yormak (@brian-yormak).

My guest is Brian Yormak, co-founder of Story Ventures alongside his brother Jake, a venture capital firm with a strong focus in data and data software. I connected with Brian as they are an investor in past guest Craig Fuller's media and data company FreightWaves and are one of the few VCs with a strong focus in data.

I've talked to data CEOs on the podcast before, but was curious to add the venture perspective to the conversation through this episode with Brian. Brian and I talk about how he classifies data companies today, API business models, what the most interesting data companies and founders are doing today, and so much more.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.

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

Links:

Story Ventures

Brian on LinkedIn

Topics:

(00:04:05) Brian's passion for data

(00:05:55) Data is the new oil

(00:08:39) Categorizing data companies

(00:13:42) The importance of proprietary data to investment decisions

(00:16:49) Attractive API businesses

(00:22:19) Data Legislation

(00:30:05) Finding the right founders & companies to back

(00:38:10) What non-venture CEOs can learn

(00:41:06) People data

(00:46:45) What strongly held belief have you changed your mind on?

(00:48:17) What's the best business you've ever seen?