post

Notes From Gazelles

Inner Circle Associate Terry Schaefer recently attended the 2011 Gazelles, Inc,. Growth Summit in Houston, TX. Terry is pursuing certification as a Gazelles Coach. The annual Gazelles Summit meetings are open by special arrangement to Inner Circle members. The following is the first of a 7 part series of notes from the summit. You can email Terry for more information about Gazelles Summits at terryschaefer@theinnercircle.com.

Notes from Greg Brenneman – former CEO of Burger King and PwC

  • “There is no self made man or woman”.
  • Our responsibility as business leaders is to create business that employs people.
  • We are responsible for the future and it starts with us. “Let’s become energy independent in the next decade” so that innovation creates other ideas and technologies to bring on a fresh future.

Five lessons through a difficult and disruptive economy

  1. Build a fortress balance sheet – build working capital so you have the cash to do what you want with great flexibility.
  2. Have a PLAN – put on a simple and understandable one page with MARKET, FINANCIAL, PRODUCT, PEOPLE as the focal points of the plan with profit as the greatest goal.
  3. Think money in and not money out – you can not save your way to prosperity. How to generate money in multiple different ways?
  4. Clean house – get only the best A&B players, and empower the new people to take the business to the next level. Make the tough decision to get the right people on board.
  5. “Let the inmates run the asylum” – give the management team the power to do what you want them to do. Believe in their abilities to move the company forward.