To effectively manage our portfolio of companies, we have established a clear interaction model that ensures both autonomy and accountability. This section outlines how I engage with the GM/CEOs and teams of our holdings, balancing oversight with empowerment.
1. Interaction Style is Hands-Off with Oversight
- Empowered GM/CEOs: GM/CEOs are empowered to run their businesses autonomously so long as they operate within the framework outlined here.
- Hands-Off Approach: I generally maintain a hands-off approach, allowing room for each GM/CEO to lead, while providing the necessary oversight to ensure alignment with broader HoldCo goals.
2. Crisis Management Approach
- GM/CEO-First Problem Solving: GM/CEOs are expected to lead in solving any issues that arise. I am available for support, but they take the primary responsibility.
3. Structured Interaction with GM/CEOs
- Weekly One-on-Ones: I hold regular, personal touch points with each GM/CEO to discuss both personal and business health. This ensures ongoing support and alignment.
- Monthly Email Reports: GM/CEOs will provide concise email reports to keep the holding company informed about key developments and metrics.
- Quarterly Meetings: In-depth reviews for strategic alignment, discussing progress, and handling larger issues beyond the monthly updates.
4. Quantitative Data Collection
- Monthly Financial Reporting: Monthly financial statements will be provided, ensuring visibility into the financial health and performance of each business.
- KPIs & Scorecards: Implement an EOS-style scorecard with a consistent set of KPIs across businesses, tracked and reviewed monthly for proactive management and alignment.
I find that this framework strikes a balance between empowering our leaders and maintaining structured oversight, which is ideal for scalability and autonomy while keeping the holding company informed.
In summary, our interaction model focuses on providing GM/CEOs with the autonomy to lead while maintaining structured oversight. Through hands-off leadership, crisis management delegation, structured check-ins, and regular quantitative data collection, we ensure that each business remains aligned with our overall strategic goals.