In this transcript, Clay Clark (US SBA Entrepreneur of the Year) discusses with Tim Redmond (Growth coach & built Tax and Accounting Software to over $400 million in sales) management maxims on Thrive15.com, one of the best customer service training programs!
Clay: My name is Clay Clark, and I'm the COO of thrive15.com. Today, we are joined with legendary business coach Tim Redmond. We're going to be learning the 50 management maxims that he's used to grow his business from 2 people, to 450 people. If you want don't own a business, or you want to own a business, you got to find yourself managing people.
When you manage people, it's tough, and sometimes you just don't know what to do, or how to say it, or when to say it. Today you're going to learn Tim Redmond's 50 management maxims that you can constantly refer to winning those management situations. You can help manage your team to win and to grow effectively every single day.
Tim Redmond, how are you doing this evening?
Tim: I'm doing Clay Clark. It's great to be back with you here.
Clay: Really, I don't know if I can fully express how much I enjoyed my vegetarian sushi. I enjoyed it, my energy level is up here tonight. I'm excited to talk about your ...
Tim: You get more energy with a vegetarian what?
Clay: A vegetarian sushi. It's wrap in seaweeds. It's got the brown rice, it's got some sort of guac, kind of a looking thing, avocado in there. I've been basically sustaining myself for the last 45 days of this.
Tim: I would love that, flatted on a nice big fat juicy steak.
Clay: Yeah, well we should ... You know there's a lot of a truth in being vegetarian while covering it with steak. We're here today talking about your 50 management maxims. The 50 truce to launch you and your business to new heights. If you don't know Tim Redmond like I do, and you probably don't.
Tim I had an opportunity to intern for you back, I was like 19 or 20 years old. Tim at the time, what was your title at the time when you guys, before you sold the company.
Tim: Executive vice president.
Clay: He's the executive vice president of a company, I'm an intern, I've tricked my way in that Leonardo DiCaprio Catch Me If You Can sort of way. BS my way, into an internship there. I'm pretending to be enrolling college, and to be pursuing accounting. I ended up ...
Tim: Neither which were true at the moment.
Clay: Neither which were true ... They weren't even showing the future, they just weren't true. Okay, I work in there as an intern. You're grown this company from 2 people, to 450 people and to navigate your way through it, you sometimes would reflect and write these maxims, these 50 management maxims.
What is a maxim?
Tim: Maxim is like a fundamental truth. It's a bedrock, reality that you can build your life upon. It's this observations that I drew from going through the School of Hard Knocks, my MBA program, and my schooling was this real life stuff. School colors were black and blue the bruises all over. I'm just trying different things.
Many of them not working then trying something that worked and then I go, "Here's the reality, here's the maxim that it came out."
Clay: I'm not going to steal your thunder, I can just say I've seen you work first hand with clients. When you teach them these things, there's the epiphany, they just get excited, they implement them and then it works. I'm excited about this. It seems like as you guys are growing the company from 2 people to 450 you start to generate some revenue along the way. What kind of revenues were you guys generating before you sold it.
Tim: We're at about 40 million a year, when we started the selling process, we're probably about $27 million, and went through a number of people in about a year and a half, through the roadshow fund us sooner, and came to the table. By that, we're just an explosive growth.
Clay: Due in large part to my internship.
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Tim: A lot of us really of the $40 million was 39 million was due to Clay's internship. Carry the show.
Clay: Carried the show on my back, I need a chiropractor. Here's the deal, as far as the revenue that you guys were [inaudible 00:04:35]. You're growing all sorts of revenue, things are going good. There's a lot of company out there, just go context where you could have the title of CEO and it's like a 2 person company. You're basically the second in command with 450 people. What kind of job responsibilities were you dealing at that time? Just to give your maxims a little bit of texture to it, a little bit.
Tim: I really got promoted, when I hire people. Because it was the founder of the company, myself, and he handled the technical side, I handle the corporate structure in the people side. As I hire people. I got promoted. I got to a point where I had 7 divisions, about 60% of the company was reporting to me through the 7 managers.
Clay: What I'm going to do here today, because you have, you manage 7 divisions right? You're managing 7 divisions, you got to hire people, fire people, you got to have sales people, you got to lead, you have management meetings. You've got people calling in sick, you got people having babies, you've got drama.
You have all the things that every other company, you have theft, you have lies, you have dishonesty, you have joy, hope all those things. Yet, you emerged, with this 50 maxims, and they became a curriculum of such, or of sorts that you kind of train your staff on. What I'm going to do is I'm going to go through, you have 50 maxims. You have a lot of them. We're going to go through this.
What I'm going to do, is I'm going to read the maxim, and then I'm going to ask you if you can tell me about it, and how I can directly apply it if I'm in business today. To make it a little fun for the folks at home, when you tell me how to apply it. You're going to be telling those guys at home how to do it okay?