The Winning M&A Advisor [Vol. 1, Issue 3]
Welcome to the 3rd issue of the Winning M&A Advisor, the Axial publication that anonymously unpacks data, fees, and terms…
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Being a middle market CEO is in many ways comparable to raising teenagers. You’re no longer providing the day-to-day life-sustaining interactions that an infant needs, but you’re not off the hook like you are with adult children. In fact, that’s one of the challenges of parenting teens and growing a middle market team. They still need your guidance, but your increased distance from their daily activities makes it difficult to provide it.
Middle market CEOs are often further away from the frontlines than they were when the company was smaller. But their company may not have the necessary systems and processes in place to fill that gap. This is why middle market CEOs must make an intentional effort to stay connected with the business’s frontlines. And the best way to make that happen is surprisingly old school. It’s the iconic management style of the 1980s: “Management by Walking About.”
This approach is once again gaining popularity, driven by a digital revolution and a growing remote workforce that is making face-to-face interactions more rare. Random, unscheduled visits to the frontlines of your business can be enormously valuable. While these visits should never have the air of a surprise inspection, seeing what’s going on when employees haven’t had a chance to prepare for your visit can provide insight in a way that scheduled tours cannot. Follow these tips to make the most of your visits:
Staying personally connected to your rank and file is the only way to know what’s really going on — and it’s more important now than ever before. If you rely only on your official chain of command, you risk missing important information. If you want the truth, you need to go get the unfiltered version yourself.