Episode 27: Leading a Standalone Business Unit inside a Global Company (replay)

Some Goodness

In this special birthday episode of 'Some Goodness,' host Richard revisits the most downloaded episode of the year featuring Mike Fouts, an experienced Chief Business Officer. They discuss the unique challenges and valuable lessons learned when leading a high-growth business unit within a larger legacy software company. Key insights include retraining muscle memory from traditional business practices, the importance of prioritizing what matters, and the distinct differences in marketing and client acquisition. The episode also offers practical advice for leaders contemplating career moves into high-growth or legacy companies.

Birthday Gift!

Enjoy this free download to go with this episode:

Chapters

00:00 Introduction and Special Announcement

00:14 Replay of the Most Downloaded Episode

02:12 Introduction to Mike Fouts

03:00 Challenges of Leading a Growth Company

05:11 Adapting to High-Growth Dynamics

07:10 Differences in Business Reviews

10:59 Customer Acquisition and Marketing Strategies

12:45 Fundamentals and Practical Tips

15:28 Career Advice for Leaders

17:29 Personal Anecdotes and Conclusion

Keywords

growth company, legacy company, muscle memory, agility, flexibility, delegation, collaboration, acceptance, prioritization, customer acquisition, marketing, top of funnel, sales methodology, pipeline, velocity, scale, profitability, structure, leadership, career move, self-awareness, business review, fundamentals, expansion, renewals, governance, transformation, operational systems, mindset shift, hiring, change management, RPM, culture fit, headcount, efficiency, business unit

Soundbites

• “Growth companies are much less rigid and more flexible... You have to be much more aware of delegating, of being accepting of certain things, and encouraging people to test the limits of rules and the box you live in.”
• “Know who you are, and be honest about what you want... Our time on this marble is pretty short, so don’t be miserable in that time.”
• “You’re going to introduce process where you don’t need process... Accept it and go and let it run because it’s in a growth mode.”
• “The biggest thing we do differently is customer acquisition and marketing… Your two primary plays in a legacy company are expand and renew. But in a growth company, the lifeblood is the land component.”
• “Prioritize what matters... and just accept the rest and put it on your list and address it as time and the business evolve and permit.”
• “You can’t change everything.” (A mantra that recurs throughout Mike’s commentary and reinforces his approach to leadership transitions)