Small businesses and startups often find the process of scaling to be an uphill battle. In order to grow, they need to overcome several common challenges, including limited resources, lack of experience, and insufficient funding. However, with the right tools and strategies in place, scaling can be a successful process.
In today’s episode, Tommy talks with Jeff Brewer, Managing Partner at Hanok Ventures. After serving in the military for 14 years, Jeff transitioned into the private sector, where he held leadership positions at companies like General Electric, Asurion, and The Boston Consulting Group. Today, he focuses on helping small businesses. He has made it his mission to help them scale and develop new leaders.
Jeff talks with Tommy about what led him into the private sector after his military achievements, why he prefers to work with small businesses over big corporations, and how he helps small businesses and new leaders scale and stay on top of their game.
Key Takeaways
[02:04] - Why Jeffrey called himself an “entrepreneurial coward”.
[05:09] - A look back at Jeffrey's military career.
[08:13] - What led Jeffrey into the private sector despite his military achievements.
[10:22] - How Jeff got started in angel investing.
[13:42] - How Jeff managed to keep his day job and work with small companies on the side.
[16:46] - Jeff’s biggest takeaways from working with Boston Consulting Group.
[21:15] - Jeff's thought process for scaling a business.
[25:23] - An example of how founders struggle with letting go.
[31:44] - The challenges of working with family-owned businesses.
[42:20] - The story behind the founding of Hanok Ventures.
[46:27] - The role Jeff played in the businesses he bought.
[52:05] - Jeff’s thought process for bringing investors to Hanok Ventures.
[53:08] - What Jeff looks for in companies he invests in.
[55:28] - How Jeff serves both the ministry and business at the same time.
Quotes
[26:16] - "To get to that point where you start scaling, you cannot control everything in the organization anymore. You have to start delegating to your leadership team and allow them to thrive because they are now at a level and a capability set that's far beyond you in their particular area of expertise." - Jeff Brewer
[27:12] - "To be successful and to scale, you have to release some of that authority and delegate properly. And that's not saying giving up everything to the company, to your leadership team, but giving up some of that allows them to grow in their capabilities. You've got to go through that mental and emotional process of letting go for your company to really reach that next level." - Jeff Brewer
[50:53] - "I don't believe any successful, healthy transition that goes from what the legacy company was to what this new company is going to be will work unless the former CEO and the sellers of the business believe in that new CEO. All three of us on the new side of the organization have to be 100% aligned." - Jeff Brewer
Links
Jeff Brewer on LinkedIn
Hanok Ventures
Cornerstone Support
GE Grid Solutions
Good Spread
Boston Consulting Group
McKinsey
Bain & Company
Herschend Family Entertainment
Jack Herschend
Connect with our hosts
Mammoth
Tommy on LinkedIn
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