Alexander Boffa’s Post

Nice personal story and reflections here (for those with Times access) from Fiona Hope on the shift from corporate life to private equity 'jockey'. (CEO/Entrepreneur = 'jockey'; the company = 'horse'; the investor/PE owner = 'trainer'. In the context of smaller businesses, investors typically attribute 30-40% of success to the jockey and about 50% to the horse.) What resonates personally (having worked in senior roles in corporates and smaller PE businesses) are the contrasts she draws - the opportunity for impact, the accountability and the entrepreneurial adventure she's experienced in the world of PE vs previous experiences in large corporates. And of course, a willingness to get hands dirty. Fiona's tip for success in the PE context is to hire people you've worked with before and know you work well with. (I think, at least partly, since ultimately we know cultural and interpersonal 'fit' are super important in hiring decisions. But also, I expect, because speed is always so important and prior experience is a helpful short cut.) She alludes to another, equally important success factor that's relevant widely but perhaps even more important in a smaller business - seeking others outside the company who can provide perspective and challenge to a senior leader's thinking. #privateequity #leadership

CEO of this company

This is a brilliant example of how to produce magic between business founders and investors, thank you for your article Bruce. When I look at our Care and Growth and Intent models developed by Etsko Schuitema, also in the late 1980's I am inspired to draw the parallels. The biggest of all being the Trust, between two founders, between founders and investors and between management and shopfloor employees. We advocate that real excellence can only be achieved if business owners, leaders and employees are in the business to Give and to serve others. If Dick Enthoven had wanted to maximize his returns, that first conversation could have been very different. If he did not Trust the founders and needed contracts and advisors to guarantee his returns, he would not have offered his handshake to seal the deal. Equally Robbie and Fernando did not waste time talking about what they were guaranteed to Get, rather they listened and their instinct was to Trust Dick's offer of a handshake to seal the deal that made history. In our work we see huge examples of success where leaders let go of the outcome and trust their people will perform their best when given the Means and Ability to do so. Dick Enthoven trusted Robbie Brozin and Fernando Duarte and proved it is true that "when the operators win, so does the investor". The promise they made in 1987 in Rosettenville "to take this chicken to the world" has since resulted in 1200 stores in 30 countries across the globe. All this based on mutual trust and a simple handshake. I challenge business leaders to look for opportunities to trust more and create real opportunities for the Growth of their people and use the Nando's example as an inspiration to listen to their instinct, rather than doubt and second guess people and their capacity for being Trustworthy when given the opportunity.

Things change. After the owners decided to sell out the family company, there will be a reshuffle of the board and today, I am stepping down as Executive President and will leave Vinoselección. The company will no longer pass to the second generation and understandably, the new owners wish to start with their own leadership.   Over 27 years I had the opportunity to learn the ins and outs of the retail wine trade in a company that is now a leader in its sector. Its solid growth over the last years shows a successful process of change that I proudly helped lead along with an outstanding Executive Committee. As an international business manager, I have been involved in launching, reshaping, and sometimes closing underperforming units in Latin America and Europe. I put to use the five languages that I feel comfortable with. So, I first would like to thank the teams in Spain, Brazil, Uruguay, Argentina, Peru, Canada, Italy, and Europe who have worked side by side with me over the years. This journey was possible thanks to the teams of managers and professionals at every level of the company, who have been able to distinguish between what is comfortable and what is necessary. I thank them for believing in what we were doing together. It is also great that the same team will be managing Vinoselección under the new leadership, ensuring the continued success of the company. Also, I wish to thank the commercial partners and suppliers for their loyalty and trust over the years. They should be acknowledged. I am also grateful for the many opportunities that Vinoselección has given me to discover, manage, launch, and accompany the growth of so many projects, often innovative and groundbreaking. This trust has allowed me to access the position of Executive Chairman and manage the activity from a different level. This leads me to the external board members, who have continuously backed the sustainability of the business and, just like me, have plunged headfirst to make Vinoselección a model in the trade. As a president, I put to good use the capacity to navigate in often troubled waters.   It has also been a learning journey. Working for the family business adds subtle layers of emotion that I learned to integrate into my work. In this context, the necessary professionalization of Vinoselección over the last 10 years has been a major milestone that I, and the entire family with me, are proud of.   It has been a professional journey of which I am very satisfied and now, after the sale of most of the capital, it is time for me to go out and face new professional challenges.   I wish the new managers and employees luck and a long and prosperous journey. And, as for me, the experience and know-how will now hopefully serve another organization.   #Farewell #NewBeginnings #ThankYou #consejoadministracion #boardmember #TransiciónProfesional #GobiernoCorporativo #CrecimientoProfesional

They are 3 different types of CEO: the cock, the conquistador & the emperor. Let me explain When you launch your company you need a cock, someone who's gonna walk in a shit, early in the morning, and try to wake up the all industry with his project. Then, if your project succeeds this first step, You now need a conquistador, Someone who's gonna extend your territory. How? By doing external growth,  Acquiring competitors  Acquiring new features for your products. At the same time, you need to hire a COO & start to process each step of your company, you'll be busy conquering the world. And at the end, the emperor, when your company is growing, Each step is a process,  The manager starts to become a political court And as a CEO, you need to manage this court. What do you think about this? Thanks for reading, please give me feedback.

Highly recommend the investment and time to ensure you are "zooming out" regularly on your business.

The Body Shop collapse - a lesson from being a pioneer v. a settler. Anita Roddick was a pioneer. Those who came later were settlers. The buyers of her immensely successful business seemingly forgot about pioneering. They were settlers, they had (or allowed) nobody to keep pioneering. Michael Porter might have talked about adopting a price strategy v. a differentiation strategy. So the business settled into being one among many retailers (including Lush), lost its edge and failed. Caveat emptor. A tragedy for its employees, investors and a top UK brand. Steve Jobs knew about pioneering and made use of it when he returned to Apple. He kept pioneering. He, like Roddick, inspired his team, captured their customers' aspirations and led the way authentically. It takes real leadership and massive self-belief to do that consistently. It is rare. It is not often corporate. Where else do you believe that pioneers have kept doing their thing? Or, notice that organisations decided to get off the leading edge? Of course, many pioneers get shot, while the settlers find success. #BodyShop #leadership #retailrevolution

Order. I was COO for most of our history before I bought out my business partner and got the CEO title. I don’t think I ever truly understood the role. Or maybe I did it wrong. According to my lovely partner Tess van Straaten (organizer of all things, including pantries) I am not a very organized person. But yet, as COO I spent very little time managing the day to day. Most of my time was spent trying to figure out what we should be doing next, and what problems haven’t happened yet that I should get on top of before they actually do. I have a lot CEO/COO friends that always seem in the weeds. They are indespensible. I feel for them. When you have good systems, effective people, and think about your business as a machine, things move pretty well without much management once you get it right. I’m convinced it’s our competitive advantage. We can spend more of our time making the machine better, which adds value to customers. What do you think: Am I just lazy?

Authoritarian vs Empowering – is Morrison’s new CEO Rami Baitieh taking the right approach?   Instigating transformational change in any business isn't easy - the reason a business is struggling can be due to a wide range of factors, both internal and external. As an incoming chief you must tread carefully.    Baitieh will be under pressure to show he's making a difference, but I don't believe the approach he is apparently taking with his team is the way to go; by all accounts staff are leaving in droves due to his direct and authoritarian management style. For me, listening to and empowering your staff is the only way. As an owner, CEO or manager you set the tone for the entire business. Your staff take their lead from you.   Your team is your most important asset - bring them on board with your vision and values, take them on your new journey, and you all win. Alienating them and making them feel like they are the problem is the last thing you do. As an incoming boss, you need to build trust and that takes time.   Don't get me wrong, there are times when a business needs a proper overhaul, when the culture is so toxic that institutional change is needed. But on the face of it Morrisons doesn't seem to be in that position - it's a good business that’s sadly been saddled with too much debt.   Now is the time to support and listen to staff to hear what needs doing. Learn from them, take action and get them aligned and on board to a new start and direction. Go in with that approach and you can see magic happening. Unfortunately, it's not the approach they seem to be taking now. I’m interested to see how it plays out, and if it is toxic then good luck to him! #performance #turnaroundmanagement #changemanagement #businessculture

𝐏𝐮𝐭 𝐅𝐢𝐫𝐬𝐭 𝐓𝐡𝐢𝐧𝐠𝐬 𝐅𝐢𝐫𝐬𝐭: 𝐁𝐚𝐥𝐚𝐧𝐜𝐢𝐧𝐠 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐚𝐧𝐝 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐋𝐨𝐧𝐠-𝐓𝐞𝐫𝐦 𝐆𝐫𝐨𝐰𝐭𝐡 In the fast-paced world of business, it's easy to get caught up in the urgency of daily operations. However, Stephen Covey’s principle of 'Put First Things First' teaches us that true success comes from prioritizing what's most important, not just what's most urgent. During my time as a Private label Manager at Carrefour Israel , I encountered this challenge firsthand. Our goal was to establish and grow a new private brand in a highly competitive market. To achieve this, I established and led a business development function, allowing the company's internal teams to stay focused on executing daily operations with excellence. By that we solely concentrated on business development for our private brand strategy: * We Stayed Agile: We hired experts and partners with the necessary expertise and fresh perspectives, enabling us to quickly adapt to market demands and drive significant growth in sales. * We Leveraged Expertise: Our expert team was instrumental in developing and managing the international franchise product penetration strategy, building an assortment of private-label products that cater to French-Israelis as well as Israeli natives. * We Maintained Focus: With the strategic growth initiatives in capable hands, the company could concentrate on ensuring that the day-to-day operations ran smoothly, ultimately contributing to the successful implementation of the new brand in the local market. If you’re looking to achieve similar success in your business, consider partnering with House of Brands as your go-to business development specialist. We’ll handle the strategic growth initiatives, so your teams can focus on what they do best—delivering excellence every day. Ready to put first things first and drive long-term profitable growth? Let’s connect and explore how House of Brands can help you achieve your strategic goals. #Leadership #BusinessStrategy #GrowthHacking #Innovation #StephenCovey #HouseOfBrands #OutsourcingSuccess #BusinessDevelopment #StrategicPlanning #CustomerSuccess #OperationalExcellence #Carrefour