Build a Business That Can Run Without You | Ed Offterdinger
Your buyer will ask about your leadership team before they ask about anything else. Most owners answer the same way: someone in sales, someone in operations, and me. Ed Offterdinger spent almost a decade at Arthur Andersen, then led Beers + Cutler as CEO and managing partner through the 2009 merger that created Baker Tilly, now the fifth largest accounting and advisory firm in the country. Today he is co-founder and chairman of AO People Partners, where he coaches chief executives and leadership teams. He is also co-author of "Conscious, Capable, and Ready to Contribute." In this episode of Blueprint for Wealth, Ed and Wayne Zell cover why the people side is usually the biggest hole in an exit plan, the three-year timeline for fixing it, why the missing seat is almost always a chief financial officer, the one interview question Ed has used for twenty years to spot a leader who keeps growing, what employee turnover really costs, and why every owner needs a plan for the day after the sale.
Key Points
- Successful business transitions require identifying and addressing gaps in leadership and team capabilities, often starting with a strong CFO and a development-oriented HR leader.
- A conscious capitalist approach, which balances the needs of all stakeholders including employees, customers, and investors, can lead to long-term business success and higher overall performance.
- Building a development culture in a company involves fostering growth mindsets, providing continuous learning opportunities, and preparing for leadership succession well in advance of any planned exit.
Chapters
| 0:00 | |
| 1:12 | |
| 2:51 | |
| 5:32 | |
| 7:31 | |
| 9:58 | |
| 11:32 | |
| 14:16 | |
| 18:00 | |
| 20:52 | |
| 24:50 | |
| 26:09 | |
| 27:16 | |
| 29:11 | |
| 30:09 | |
| 31:00 | |
| 34:38 | |
| 36:41 | |
| 38:01 | |
| 39:29 | |
| 39:50 |
Transcript
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