Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
Gatekeeper Systems, Floorworx and P.M. Bedroom Gallery were selected from dozens of nominations to discuss their growth goals with a team of experts, gain advice to make those dreams a reality, and tell our readers all about it in the pages of Upsize and at a public event.
Since then, for 10 years running, two or three CEOs each year have joined their ranks to embody what Upsize is all about: learning from fellow CEOs and savvy experts how to build a bigger business, and sharing those lessons — the good, the bad and the ugly — with like-minded entrepreneurs.
Along the way we’ve enjoyed the wisdom of a cast of characters, such as Craig Kruckeberg of Spray Control Systems, the company now dubbed the Minimizer. “I know a lot of people that want that quick million but that’s not how it works,” he said in 2006. “Growth has to come. I’ve learned you’ve got to be patient.”
He had a colorful way to express himself, especially that crucial step when business owners quit working so hard in the trenches and start to consider themselves as a CEO.
In the past, he recalled, he was the one “slapping the horse on the ass” to get the company to grow faster, and his father was the one pulling back on the reins. Once he took the top spot he had to manage the growth, “and I’ve got seven guys slapping the horse.”
Kelly Roden was another winning CEO, the president of Roden Iron who in 2008 came to the first workshop with a list of relatively simple questions: should she rent or own new vehicles, how to retain ironworkers, and whether to add office staff.
“I realized I had bigger issues going on,” she says, “My payroll went from $3,000 a week to $20,000 a week,” and she relied on the advice of the Upsize Growth Challenge experts to help her see her way through.
Lynn Richardson of Gatekeeper Systems was in the first crop of Upsize Growth Challenge winners, in 2004, and he learned to turn his attention to the bottom line rather than the top. “Your business is successful in two areas: One is you have to get business, and then you have to make money at it,” he said. “I’m now spending more time on the profitability side.”
The transformation the Upsize Growth Challenge CEOs make in just a few short months is remarkable, guided by pointed yet friendly feedback by our experts. The young hotshot with a runaway case of corporate-speak becomes the more humble executive gaining buy-in from his management team.
The overwhelmed CEO who stepped into her role following a tragedy gains confidence to execute a new business plan.
The conflicted boss who feels pushed to pursue more and more projects gets the wisdom to select and focus.
What could be your transformation? I invite you to nominate your company for this year’s Upsize Growth Challenge, presented by Winthrop & Weinstine, by visiting dev.divistack.com and filling out a brief form. The deadline is May 30. If you’re selected, I promise you’ll enjoy the journey — and your efforts to meet your challenge will help others do the same.
Beth Ewen
Editor and co-founder
Upsize Minnesota
be***@*******ag.com
