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Kevin Tawil

๐Ÿ‘ค Speaker
See mentions of this person in podcasts
1363 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

We probably did that for six months.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

And then we handed that off to our new CFO, who we hired a little bit later.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

Jim and I were both happy to do it just so we understood the business.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

As we got to know the managers, we learned in business school, it's good to delegate.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

We quickly found that that didn't work very well.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

So we were trying to manage by objectives, set up objectives and scorecard and we'll measure against it over time.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

Yeah, that didn't work.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

What the team that the seller built was used to was executing orders.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

The seller would tell the specific leaders what to do, and they would go do it.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

But once they were done, that was it.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

They didn't know what to do then.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

So the idea of setting goals, empowering them to achieve those goals, and having scorecards and managing them along the way,

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

That quickly led us to realizing that the team that was there was not going to be the team that was going to be with us.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

Certainly not the medium term and not the near term as well.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

I think within a year, most of the team, if not all the team, was entirely replaced.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

What do you remember about the first year?

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

Jim and I, we saw this engine that was growing rapidly.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

And we had this sense that, okay, land grab may be not exactly the right term, but it was a sense of once we got in and realized, oh, this is big and growing, we knew that we wanted to spend most of our time on the revenue side.

Invest Like the Best with Patrick O'Shaughnessy
Asurion: 50X Season Two - (50X, S2)

So Jim and I, to the extent we have 200% of our time, 100 each, we probably allocated about 150% of the 200 to revenue growth.