Is Anything More Important Than Getting the Right People in the Right Seats?
Today I'm visiting a searcher who 3x'd EBITDA in the 12 months post-close and already returned our invested capital. The #1 lever he pulled to do it? Getting the Right People in the Right Seats (to use EOS language). His industry has a lot of PE players, and often, the best people don't like working for PE. So he recruited them. Over a dozen team members didn't or couldn't meet his standards, and they have been transitioned out and replaced with people who are. "There is no such thing as problems, only people problems." -- Charlie Munger “If you could get all the people in an organization rowing in the same direction, you could dominate any industry, in any market, against any competition, at any time.” -- Patrick Lencioni This searcher is proving the truth in those words every day. Curious, though, if anyone thinks there is a #1 driver of success that is even more powerful than the right people in the right seats?