Dynasty Leadership Podcast – Details, episodes & analysis

Pete Scherer is the CEO and a third-generational leader in the family business, Scherer bros. Lumber Co. Out of nearly 300 employees, there are currently four family members that work and lead within the company. In this episode, Pete explains how he leads and keeps the interests of the company aligned when he hears multiple visions and thoughts from different members of the family.

Key Takeaways:

[1:30] A little bit about Pete and his company, Scherer bros. Lumber Co.

[3:10] How does Pete structure the business?

[6:30] What trade-offs did previous generations have to make in order to make this company work?

[8:25] As Pete’s son currently works for the company, how does Pete bring children into the business?

[10:20] If you want to make a career out of the family business, the rules for family members become a lot tighter.

[13:00] The business is not obligated to keep you on if you’re not a good fit.

[16:20] Nepotism is always assumed. Whether it is or not. How does Pete work through this?

[19:40] How does the fourth generation address Pete? Do they ever use the word ‘Dad’ or ‘Uncle’?

[23:55] How are the boards of directors formed in Pete’s company?

[27:45] How do shareholders vote for new board members?

[32:50] Pete is constantly being humbled in the business. Pet projects and passion projects that weren’t able to be profitable have to get cut.

Mentioned in This Episode:

Dynastylc.com

Email Todd: Todd@Dynastylc.com

Schererbros.com

Pete on LinkedIn

Liz Wiseman is CEO of The Wiseman Group and teaches leadership to executives around the world. She is the author of three best-selling management books: Multipliers, The Multiplier Effect, and Rookie Smarts. She is out with her newest book, Impact Players, where she analyzes what makes someone truly stand out as a team leader. In this episode, she shares the five signs of an impact player, how they think differently, and how they have the ability to elevate everyone’s collective mood.

Key Takeaways:

[2:10] A little bit about Liz and her company.

[3:20] Why are some leaders able to unlock their employee’s potential and other people seem to struggle?

[5:10] We are products of our environment. You can make a difference, but your environment can shape how you make that difference.

[7:10] Liz wanted to look at people who were doing a great job vs. an extraordinary job and understand what they were doing differently.

[8:00] There are five characteristics/situations that create an impact player.

[11:20] How do we make this workload easier for everyone? This is a question impact players often ask.

[17:45] Liz shares a little bit about her background in Silicon Valley and some of the key lessons she’s learned.

[21:10] Through Liz’s research, she made a list of credibility killers and credibility builders from what managers want in an employee.

[27:45] What should you do if you’ve made a mistake? Admit it!

[32:05] Managers don’t really want to manage people. They want people to come up with solutions.

[35:55] Working hard is not the same as creating impact. Liz dives into this further.

[39:30] Liz offers advice on how to write more effective emails that get people responding!

[40:25] Before you start working hard on something, make sure you first understand the assignment.

Mentioned in This Episode:

Dynastylc.com

Email Todd: Todd@Dynastylc.com

Thewisemangroup.com

Impact Players: How to Take the Lead, Play Bigger, and Multiply Your Impact, by Liz Wiseman

Michael Sahota is a Speaker, Trainer, and Consultant on Evolutionary Leadership. He is the founder and CEO of SHIFT314 Inc., a boutique training and consulting organization that specializes in the organizational, cultural, and leadership shifts needed to unlock success. In this episode, Michael focuses on how to lead during times of intense change and how to maintain a healthy culture as more workforces get disrupted by COVID-19.

Key Takeaways:

[:55] Covid has hit a lot of businesses hard, which has made it difficult to maintain a healthy company culture.

[1:30] A little bit about Michael and his work.

[3:00] Michael wanted to answer the question, “How do you inspire people to do good work?”

[3:40] What does a “traditional” manager really do, and what role does a leader play?

[5:30] Many organizations are happy to float on the “status quo” line.

[8:15] We need to think about culture differently.

[8:30] How do leaders instill good values in our people and our organization?

[11:50] How do you tell the truth? And what do you do when you work with people who don’t want the truth?

[12:45] There are four pieces to Michael’s Evolutionary Leadership framework.

[16:20] Not happy with your organization’s performance? It starts with you.

[19:10] It’s important when embarking on this work, for managers to shift their mindset.

[22:10] Everyone knows it’s about relationships, but how does a leader get better at that? What do they need to focus on?

[25:00] Managers are so focused on the “to-dos” instead of focusing on the optimization.

[28:00] How do you build leaders around you?

Mentioned in This Episode:

Dynastylc.com

Email Todd: Todd@Dynastylc.com

Shift314.com

Michael on LinkedIn

Leading Beyond Change: A Practical Guide to Evolving Business Agility, by Michael Sahota and Audree Tara Sahota

Steve Burks is the CEO of Burks Search, a member of the Sanford Rose Associates, and has a Ph.D. in Chemistry. He comes from a career in the specialty chemicals and coatings industry, where he served in both technical and sales/marketing positions. He was also involved in the launch of three ground-floor start-up businesses during his career. In this episode, he helps us understand and resolve the challenge of the great resignation. He shares some best practices in how to look for and retain number twos in the business.

Key Takeaways:

[2:25] Steve talks a little bit about his business, Burks Search.

[3:30] Steve looked into the trend lines and started an informal market survey to understand the reasons why number twos leave their companies.

[4:35] Steven shares what kind of challenges CEOs are having today. He’s identified six key issues.

[5:20] How can CEOs figure out if number twos align with the company vision and see if their relationship would work?

[7:00] Steve shares that the major issue when hiring a number two is if the CEO is ready to let go.

[10:05] Are there no good people out there? Steve challenges the hiring process in making the right fit.

[11:00] Todd asks Steve what decision-making means in his pre-boarding process.

[12:20] It’s best to clearly define who can make the decision. Steve expands on this further and shares some examples.

[14:45] Steve also shares some example scenarios where financial issues arise and how they can be managed before the hiring is made.

[16:35] It’s best to put somebody into a role that they’re going to feel challenged and will be successful at.

[17:35] How do we identify if someone fits with the company culture?

[18:20] The number two needs to be a good social fit for the CEO. Steve explains why.

[20:30] Steve also talks about senior-level family members and how they can be a challenge to the number twos.

[23:00] Steve shares why it’s important to look at the strengths and weaknesses of the whole executive team when identifying a number two.

[25:10] It’s also important for the number two to understand the strengths and weaknesses of this team because they will report to him/her.

[27:00] Steve talks about the importance of building trust between the CEO and the number two earlier on. He shares how this impacts a number two’s retention.

[30:50] The CEO’s transparency can have a tremendous impact on the growth of the company. Steve explains how.

Mentioned in This Episode:

Melissa’s next Business Performance Series event on March 23, 2022, from 9‒10:30 a.m.

Dynastylc.com

Email Todd: Todd@Dynastylc.com

Burkssearch.com

Steve on LinkedIn

Email Steve: Steve@burkssearch.com

Melissa Johnson is the co-founder of Entrepreneurs Bancshares, Inc., a bank geared specifically to entrepreneurs. She used to work with Highland Bank as the Senior Vice President bringing with her years of banking experience. Today, Melissa debunks some of the myths of a trusted adviser, offers advice on what clients should expect from a good banking relationship, and the difference between a community business bank model and a commercial one.

Key Takeaways:

[1:35] A little bit about Melissa and the new bank she is launching.

[2:40] Melissa shares a bit of her background and the journey through her career.

[3:25] Why are there not a lot of banks that have a community business bank model?

[4:30] Melissa shares what it’s like opening a brand new bank.

[5:21] In the world of commercial banking, what are the three things you can expect from a good bank?

[6:50] Aside from money, what benefits would entrepreneurs receive from a bank like theirs?

[8:30] What is forbearance? Melissa explains.

[9:45] Melissa shares an example to explain what a trusted adviser is to her.

[11:30] What kinds of things does Melissa do to get to know her clients’ business and help her become a better adviser?

[13:50] How does Melissa help her clients think about the long term?

[16:05] If Melissa was a business owner and she was looking for a bank, what would she do?

[18:40] Melissa shares the difference between regional banks and how they work.

[20:05] How long does it take a banker to know if a loan should push through? Melissa shares what can be expected from a good and experienced banker.

[22:34] How does Melissa deliver bad news to her clients if a loan doesn’t push through?

[24:30] Melissa also talks about the objective behind gaining understanding if the bank is the right fit for the entrepreneur.

[26:55] Melissa matches her client’s calendar as to where their acquisitions are headed. What is it like following through with them?

[28:10] Two of the biggest mistakes in banking fall under poor communication and poor planning. Melissa expounds further on how this can happen.

[29:45] Melissa also talks about what is a 1031 exchange.

[30:25] What would Melissa recommend to entrepreneurs to help them prepare to set up a new banking relationship?

[32:40] Melissa also talks about her seminars, the more recent one called Business Performance Series.

Mentioned in This Episode:

Dynastylc.com

Email Todd: Todd@Dynastylc.com

Melissa on Linkedin

Email Melissa: melissa@entrebank.com

Nathan Dey was a first-time CEO for Navegate, a shipping and logistics company, which later got acquired under his guidance. Nathan shares his experiences of what it was like being a first-time CEO, some of the mistakes and challenges he was faced with, and how he adapted based on new market changes. He also offers advice and wisdom to young CEOs, in this week’s episode! 

Key Takeaways:

[1:45] What was it like being a CEO for the first time?

[8:15] When Nathan took over, he wasn’t as familiar with the market conditions. He faced challenges after his first quarter. 

[13:25] Nathan had a team member who had reached their peak in the organization. What did Nathan decide to do? 

[15:20] Nathan realizes that he probably should have spent more time on hiring good people, and been quicker in firing the bad ones. 

[18:45] Nathan shares some day-to-day challenges he and the team faced. 

[22:00] Dive into your board members. If you’re not using their expertise, you’re missing out on a whole wealth of knowledge. 

[26:25] Want to further your knowledge as a business leader? You need to have a coach. 

[28:30] Nathan was vastly under-resourced to solve one of the company’s biggest challenges. He shares how he transformed the business to meet that goal. 

[33:40] Nathan ended up delivering a great return for his investors and for his dedicated team. 

[35:20] As a new leader, really take 3-6three to six months to learn about the organization. 

[36:40] What’s next for Nathan? 

Mentioned in This Episode:

Dynastylc.com

Email Todd: Todd@Dynastylc.com

Navegate.com

Nathan on LinkedIn

NDey@SaltSpringCapital.com

Kathleen Crandall is an expert on personal branding, an engaging keynote speaker and workshop facilitator, a speaker coach and message development expert, and the Founder of Know My Impact. She is known for helping people understand, elevate, and leverage the impact of their image, their words, and the experience of knowing them or working with them. In today’s episode, Todd talks to Kathy about how you can get the right people to find you for the right reasons and the right places.

Key Takeaways:

[2:15] A little bit about Kathy’s business and how she got there.

[4:50] Kathy shares how you can talk about yourself without having to say your job title.

[6:55] Todd shares his own experience with Kathy where she was able to help build his personal brand.

[7:15] Talking about LinkedIn, Todd asks Kathy how to build your profile correctly to attract the right audience.

[10:45] Kathy talks about the key pieces in LinkedIn and what they look for in our profiles.

[11:40] Headline is Number One. Kathy shares some tips on how to write a better one.

[13:40] Current and past roles, as well as the services you provide if you are a consultant or business owner, have a great impact on the search results in LinkedIn.

[15:10] Last but not least, Kathy also talks about the “About Me” section of your profile and its importance.

[16:40] Kathy also talks about the top skills you have on your profile and how to view that when it’s converted to PDF.

[18:30] What is an applicant tracking system? Kathy also shares more insights about this.

[22:10] LinkedIn vs Monster vs. other online job search networks. Which tool is mostly used by recruiters?

[23:25] Quality over quantity. Kathy shares how you can best use virtual networks to get the right connections.

[24:45] Kathy also talks about the SEO strategies that are applied in LinkedIn and how you can take advantage of them.

[27:30] What are the common mistakes Kathy has seen executives have made in their personal brands?

[29:40] Kathy also talks about an article she shared about Elon Musk and his philosophy about people and employees that made her look at him differently.

[30:30] Kathy wraps up by sharing key takeaways for the listeners to put them on the right path in their job search.

Mentioned in This Episode:

Dynastylc.com

Email Todd: Todd@Dynastylc.com

Knowmyimpact.com

Kathy on LinkedIn

Email Kathy: Kathleen@Knowmyimpact.com

Lisa Forrest is the Co-Director of Sponsored and Search Fund Lending at Live Oak Bank. Business loans are a hot topic right now. Many business owners are thinking about leveraging debt to grow or acquire a business, but is this option right for you? In this episode, Lisa shares what you need to know about these two types of loans and when it makes sense for you to take leverage out based on your situation. 

Key Takeaways:

[1:50] What’s the difference between an SBA loan, sponsored, and search fund?

[7:55] A little bit about Lisa and her background in financing. 

[14:00] What types of people are applying for these kinds of loans? 

[17:20] Lisa shares what you should look out for and risks to consider before you take out a loan. 

[20:40] When you have a potential business buyer, what happens next? 

[24:25] How much equity should an entrepreneur/business owner be thinking about? 

[26:45] How does Lisa and her team help business owners with their loan? 

[29:00] Lisa shares her wisdom and what some common mistakes are out there to avoid. 

[30:50] Finding that perfect business is a grind. You need to get to as many transaction reviews as you can. 

Mentioned in This Episode:

Dynastylc.com

Email Todd: Todd@Dynastylc.com

https://www.liveoakbank.com/

Lisa on LinkedIn

Sean Tyler Foley is a trained Safety Trainer and Auditor. Through his teachings and his 30+ years of experience as an actor, he learned how to package information in an engaging way. Today, he is the author of The Power to Speak Naked, and a keynote speaker. In this episode, Tyler breaks down what it takes to present your ideas on a public stage and shares effective communication strategies you can use today in your business. 

Key Takeaways:

[1:50] A little bit about Tyler and how he got started in speaking. 

[7:10] How did Tyler go from performer to safety auditor? 

[9:00] To Tyler, jumping out a window is way scary than speaking on stage! 

[13:35] Tyler shares what it was like to perform on a stage as a child. 

[17:10] Grief is a universal feeling. Tyler lost his father at a young age and saw his mother sacrifice a lot for him and his siblings. 

[24:25] Why are people so afraid of public speaking? Why don’t they want to go back on stage after they do it the first time? 

[26:00] You need positive reinforcement when it comes to speaking publicly. The best way to do that is to find a group you can practice with. 

[29:10] Some of the best stories happen within 20-30 seconds. Just look at commercials! Tyler shares an example of what this looks like. 

[33:35] Everyone wants to be Luke Skywalker when telling their story. Everyone wants to be a hero. The problem is, we’re not Luke. We are Obi-Wan Kenob, so we need to tell the story like him.

[35:40] What’s one thing someone can do today to tell their story in a better way? 

Mentioned in This Episode:

Dynastylc.com

Email Todd: Todd@Dynastylc.com

Seantylerfoley.com

Tyler on LinkedIn

The Power to Speak Naked: How to Speak with Confidence, Communicate Effectively, and Win Your Audience by Sean Tyler Foley

Shannon Byrne Susko has over 20+ years experience building and leading high-growth technology companies in the financial services industry.  She co-founded, served as CEO, and led the sale of the two companies less than six years apart, and she is the creator of the 3HAG. In this week’s episode, Shannon talks about her latest book, Metronomics. Her custom system that helps teams scale and grow. 

Key Takeaways:

[1:50] A little bit about Shannon and how she got started in her career.

[3:20] Shannon was looking for a system to help her get organized in her business.

[4:25] You have both hard-edge and soft-edge systems in your business. Shannon shares what these two worlds look like.

[9:10] Don’t get your team hooked on the latest ‘flavor of the month’ when it comes to internal team development and main company focus.

[11:15] How does Metronomics fit into other company frameworks like EOS or Scaling Up? 

[12:30] When it comes to entrepreneurship, you never truly graduate from the program; you just get better.

[18:10] It’s important to have empathy for where you are at in your business. 

[19:30] If you’re feeling stuck, don’t worry. Every single leader has been where you are. They all get stuck. 

[23:00] Does Metronomics work for smaller scale companies? 

[26:55] How do you have an ‘open playing field’ when trying to win at business? 

[30:35] What kind of mistakes does Shannon see entrepreneurs and business leaders make? 

[31:25] It took Shannon longer to get to where she wanted to go because she was stuck on ‘doing it herself’. 

[33:25] Shannon shares a little bit about the previous books she has written, and who they’re for. 

Mentioned in This Episode:

Dynastylc.com

Email Todd: Todd@Dynastylc.com

Metronomeunited.com

Metronomics by Shannon Susko

Shannon on LinkedIn

Scaling Leadership by Robert J. Anderson and William A. Adams