Launch Series Ep.6: First 100 Days with Sam Krieg & Chris Hendriksen
Episode description
Ep.191: Alex (@aebridgeman) is joined by Sam Krieg (@sam-krieg) and Chris Hendriksen (@chris-hendriksen).
Today is the 6th episode in our Launch Series, a partnered episode series with Pacific Lake Partners and Trilogy Search Partners on preparing for the CEO role as a search fund. This conversation centers around a CEO’s first 100 days in the company post-acquisition, and I’m joined by Sam Krieg, Co-CEO of Central Storage & Warehouse, and Chris Hendrikson, partner at Pacific Lake Partners and former CEO of VRI.
We talk about the key objectives new CEOs should approach the business with, important frameworks for making decisions, how to authentically get to know your team and business, the role of the founder and your investors, and so much more. Please enjoy this episode on the first 100 days, and check out our earlier Launch episodes as they complement this discussion well.
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Topics:
(00:00:00) Intro
(00:04:54) Chris and Sam’s experiences in the first 100 days as CEO
(00:07:43) Goals for CEOs to have in their first 100 days
(00:11:03) “Do no Harm” vs. making team changes early in a CEO’s tenure
(00:23:42) Building trust with key players and the company
(00:30:44) Accelerating learning of how the business works
(00:41:38) Mapping out ways to alleviate problems within the business
(00:47:02) Working with the founders on a transition plan
(00:52:39) How CEOs can transition trusting relationships with customers and key vendors to new owners
(00:58:47) Where you can learn on your board and investor group
(01:07:03) When to start having formal board meetings
(01:09:30) Closing advice