Franchise Update Magazine Issue II, 2015 | Page 15
ceoprofile
Bottom Line
What does your management team
look like? We are fortunate to have a
group that has grown the business and
grown with the business together. We
trust each other and push each other to
get better. Also, most of our team are
Cheeseheads (Packers fans), so Vikings
and Bears fans are generally disliked.
How does your management team help
you lead? We try to stay focused on the
important things: our value proposition,
solid execution, good communication,
and quickly dealing with (versus ignoring)
problems. All of our key folks are aligned
on these attributes.
Favorite management gurus: Do you
read management books? I am biased
since I am a coach’s kid, but I believe great
coaches are great strategists, developers of
talent, and adapt well to changing circumstances. People with these skills and strong
faith are folks I admire, like Tony Dungy.
What makes you say, “Yes, now that’s
why I do what I do!”? I must be easily
excited because I say this almost every day.
Personal
What time do you like to be at your
desk? About 8 a.m. and work late as needed.
Exercise in the morning? Wine with
lunch? I exercise almost every day and
would be grumpy if I didn’t. If I drank wine
with lunch I would need to come back and
take a nap. So no wine with lunch, ever.
Do you socialize with your team after
work/outside the office? We have a
number of events and outings our employees do together. I also consider many
of my colleagues close friends. That said,
between work and our family commitments, we don’t see each other socially
all that often.
Last two books read: Visioneering by
Andy Stanley; and Three Cups of Deceit
(How Greg Mortenson, Humanitarian Hero,
Lost His Way) by Jon Krakauer (Mortenson graduated from my high school. Go
Ramsey Rams!).
What are your long-term goals for the
company? $1 billion in system sales and
a nationally recognized brand.
How has the economy changed your
goals for your company? Portable energy and energy-efficient lighting are
growing, needs-based industries so we
have not changed our game plan because
of economic factors.
We now have
more device repair
locations than
any other retailer in
the country
and we definitely
have permission to
play here.
What technology do you take on the
road? iPhone 6 Plus and a MacBook Air.
How do you relax/balance life and
work? I am not much of a relaxer. I am
blessed in faith, family, and work. That, and
I run several times a week. Life is good.
Favorite vacation destination: The
beach at Ponce Inlet, Florida.
Favorite occasions to send employees
notes: I am not a note writer. I much prefer to stop by someone’s desk and thank
them personally and/or meet with them
for a few minutes to talk.
Favorite company product/service:
We have always had a service segment to
our business, building battery packs, for
example. In 2014, we added device repair
to our service offering and now fix cracked
screens, charge ports, etc. on smartphones
and tablets. We now have more device repair locations than any other retailer in the
country and we definitely have permission
to play here. We are seeing rapid growth
in this service offering.
Where can capital be found these
days? For a solid franchise business,
capital is readily available through the
private markets. I think the critical factor
for franchisors seeking capital is having
strong unit economics that are repeatable
and sustainable.
How do you measure success? We focus
heavily on improving unit economics and
believe that is the foundation for future
growth and success.
What has been your greatest success?
Our Ascent supply chain structure has
provided our stores substantially improved
margins and reduced working capital. As
we got Ascent optimized about 10 years
ago, our new store and system growth
really took off.
Any regrets? Never. You can’t change history (but those who don’t at least learn from
it are doomed to repeat the same mistakes).
What can we expect from your company in the next 12 to 18 months? We
are launching our omni-channel platform
this spring, which will dramatically improve
our customer experience. This platform
will integrate with our stores’ POS system and provide customers (business and
consumer) the opportunity to do business
with us anytime, anywhere, and from any
device. We believe this will drive significant
additional sales to and through our stores.
Additionally, we are launching a complete
range of exclusive Duracell-branded batteries that will align well with our retail
brand position and that will provide further
credibility for our unparalleled offering in
batteries and light bulbs. n
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